Posted on 06 August 2008
Wall Street declines after rally as Freddie Mac swings to wider-than-expected 2nd-quarter loss
NEW YORK (AP) — Stocks declined Wednesday, a day after a big rally, as troubled mortgage financier Freddie Mac reported a larger-than-expected second-quarter loss and touched off fresh concerns about the financial sector.
Freddie Mac, which substantially increased its reserves for souring loans, lost [...]
Posted on 06 August 2008
NEW YORK (Reuters) - Time Warner Inc (NYSE:TWX - News) said it would split AOL’s dial-up Internet and advertising businesses into separate divisions by early 2009, a move that could ease a sale or merger of either business.
The media conglomerate also reported a lower quarterly profit, dragged by AOL, but it still slightly beat Wall [...]
Posted on 14 July 2008
Stocks decline as investors weigh plan for lenders, face concern about other financials.
Wall Street extended its slump into yet another week Monday as investors worried that even a safety net set up for mortgage financiers Fannie Mae and Freddie Mac won’t head off further troubles in the financial markets.
Investors’ latest unease about the banking sector [...]