IBT Staff Reporter

150271-150300 (out of 154954)

Investors gauge Fed's plans as ECB acts again

Investors weighed up on Wednesday the prospects of a near-term U.S. rate cut to calm a financial storm stemming from America's faltering home loan sector, as the European Central Bank moved to soothe money markets again. Indicating liquidity problems were far from over, the ECB said it would hold a tender to add 40 billion euros in 91-day funds to the euro money market on Thursday -- a technical measure aimed at supporting the normalisation of the market.

FDIC eyeing big banks as troubled home loans rise

The Federal Deposit Insurance Corporation, which insures bank deposits, said on Wednesday it is closely monitoring credit markets and the biggest U.S. banks' balance sheets as troubled real estate loans rose 36 percent in the quarter ended June 30.

Fed cash not reaching mortgage players forcing sales

The Federal Reserve's attempts to provide liquidity in the past few days are not reaching the players who need it since they cannot borrow directly from the central bank, leaving the $7.2 trillion U.S. mortgage bond market struggling to clear the volumes being offered.

Toyota to make small car in 2 years

Japanese car maker Toyota Motor Corp is looking to launch a small car within two years, and the first production facility may be in India, its chairman said on Wednesday.

Agency MBS succumbs to global credit squeeze

Tightening global credit markets have taken a toll on U.S. mortgage-backed securities issued by Fannie Mae and Freddie Mac and it will take more than recent Federal Reserve measures to boost liquidity.

Surge in international travel spurs online battle

Surging growth in international travel is driving revenue increases at the foreign units of U.S. online travel agencies and has spurred heated competition for a bigger slice of the lucrative and expanding market.

TD Ameritrade and E*Trade in merger talks: report

Online brokerages TD Ameritrade Holding Corp and E*Trade Financial Corp have been in serious merger discussions for weeks but are not close to a deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Sharp says develops thinnest, lightest LCD TVs

Sharp Corp said it has developed the world's thinnest and lightest LCD TVs with enhanced picture quality, in a pre-emptive move before the release of organic light-emitting diode TVs, known for their thin displays and crisp images.

iRobot revamps vacuums, plans more home robots

iRobot Corp, a robot maker that sells floor cleaners as well as devices that defuse bombs, introduced on Wednesday a new line of vacuums in hopes of generating cash to invest in a wider range of products.

EU-wide approval eyed for mobile satellite service

A new service for mobiles that would provide telephony, television and Internet via satellite could be operational within a few years under a proposal made by the European Union's executive arm on Wednesday.

Yen retreats as carry trade regains favor

The yen fell and high-yielding currencies rose on Wednesday as growing expectations of a U.S. rate cut to ease tight liquidity conditions instilled a sense of calm and prompted investors to reenter risky carry trades.

Rate cut hopes and deal news lift stocks

Stocks gained on Wednesday, boosted by optimism about renewed deal activity and ongoing speculation the Federal Reserve might cut its benchmark interest rate to calm turbulent financial markets.

Toll Brothers quarterly profit falls sharply

Toll Brothers on Wednesday reported sharply lower quarterly profit amid tightening credit standards that the builder said would likely to shrink the number of potential home buyers.

Japan omits China, asks Asian democracies to unite

Japanese Prime Minister Shinzo Abe called on Wednesday for a broader Asia partnership of democracies that would include India, the United States and Australia but leave out the region's superpower, China.

Russia bans Italian poultry to stop bird flu

Russia banned poultry imports from Italy starting Monday to prevent the spread of the bird flu virus after outbreaks in the EU member state, but Italy said the strain was not dangerous and the ban impact was negligible.

Accredited Home halts lending, to cut 1,600 jobs

Accredited Home Lenders Holding Co said on Wednesday it has stopped taking loan applications and will cut 1,600 jobs, citing turmoil in the subprime mortgage industry. Accredited said it will close substantially all of its retail lending business, consisting of 60 branches and five central support operations.

Indian left ponders how far to push nuclear row

Indian communists sought to forge a consensus on Wednesday over whether to end support to Prime Minister Manmohan Singh's coalition government over a controversial nuclear deal with the United States.

China mine safety slammed as hopes fade for 181

Desperate efforts to save 181 Chinese coal miners from two shafts flooded with water and mud faced near impossible odds on Wednesday, as a safety official said mine owners had failed to anticipate the threat of disaster.

Nicaragua embargoes Esso assets in tax dispute

A Nicaraguan judge has embargoed assets of U.S. oil company Esso Standard Oil in a tax payment dispute between the government of leftist President Daniel Ortega and the unit of giant ExxonMobil Corp, a government aide said on Tuesday.

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