Freddie Mac may sue California city on eminent domain loan seizures
WASHINGTON (Reuters) – Freddie Mac , the government-owned mortgage finance company, on Wednesday said it is considering legal action against Richmond, California, if the city uses eminent domain to seize mortgages of local residents who owe more than t…
Monte Paschi ready to improve plan sent to EU to clear state aid
MILAN (Reuters) – Banca Monte dei Paschi di Siena is ready to improve a restructuring plan it submitted to the EU Commission to get clearance for state aid, the bank’s CEO said on Wednesday.
Freddie Mac profit jumps; will pay U.S. Treasury $4.4 billion
WASHINGTON (Reuters) – Freddie Mac , the U.S.-owned mortgage finance company, on Wednesday said its second-quarter profit surged 65 percent to $5.0 billion, its second largest ever, as rising home prices limited credit losses and it booked big gains on…
Exclusive: China OKs entry of first big cargo of Argentine corn
BUENOS AIRES (Reuters) – China has approved its first major shipment of genetically modified Argentine corn, Buenos Aires officials said on Tuesday, signaling an increase in competition for a market long dominated by U.S. exporters.
Boeing sees little Spirit impact, pitches export credit
(Reuters) – Boeing Co on Wednesday stuck by its forecast for plane production despite turmoil at a key supplier, and made a pitch for export credit for aircraft sales, addressing criticism that use of such government-backed loans is unfair to U.S. airl…
ADM wins Korean approval for GrainCorp deal, needs China
CHICAGO (Reuters) – Archer Daniels Midland Co said on Wednesday that South Korea had cleared the grain trader’s takeover of GrainCorp Ltd , leaving China and Australia as the last two countries that need to approve the deal.
Wall Street banks see dollar signs in forex business
NEW YORK (Reuters) – A surge in currency trading earlier this year and favorable regulatory treatment of the foreign exchange business have unleashed an intense fight on Wall Street, with banks battling one another for a larger share of an increasingly…
Duke Energy profit misses Street on weak commercial sales
(Reuters) – Duke Energy Corp , the largest power provider in the United States, posted a lower-than-expected quarterly profit on Wednesday due in part to weak commercial sales.
Glencore, JPMorgan sued over warehouse aluminum prices
SINGAPORE (Reuters) – Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit alleging they artificially inflated aluminum prices, the second legal challenge related to metal warehousing in a week.
Carlyle swings to second-quarter profit as fund values rise
(Reuters) – Private equity firm Carlyle Group LP said on Wednesday it returned to profitability in the second quarter versus a year ago, but less strongly than expected, as its funds appreciated in value.
