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Judge rejects Countrywide's arguments: report
(Reuters)
Thu, 15 May 2008 02:09:05 GMT
Reuters - Directors and officers of mortgage
lender Countrywide Financial must answer shareholder
accusations of insider trading and failure to monitor lending
practices that led to the company's collapse, a federal judge
in California has ruled, the New York Times reported.
AIG chairman says board stands by CEO Sullivan
(Reuters)
Wed, 14 May 2008 23:40:54 GMT
 Reuters - American International Group Inc's
chairman said on Wednesday the global insurer's board
is backing Chief Executive Martin Sullivan despite some anger
from investors over two quarters of record losses.
Benign inflation and strong results lift Wall St
(Reuters)
Wed, 14 May 2008 21:44:49 GMT
 Reuters - Stocks rose on Wednesday in light
trading after a modest rise in consumer prices in April cooled
inflation fears while Macy's Inc and Freddie Mac
posted reassuring quarterly results.
Tame April price rise eases inflation worry
(Reuters)
Wed, 14 May 2008 19:28:50 GMT
 Reuters - U.S. consumer prices were tamer than
expected in April on a lower energy price reading, giving the
inflation-wary Federal Reserve a little breathing space as it
seeks to fortify an anemic economy.
Sony shares rise 10 pct after strong profit forecast
(Reuters)
Thu, 15 May 2008 00:44:54 GMT
 Reuters - Shares of Sony Corp (6758.T) opened 10
percent higher on Thursday after it forecast a
bigger-than-expected operating profit this financial year as it
aims to boost flat TV sales and wipe away losses on the
PlayStation 3.
Economy - Wednesday
(Investor's Business Daily)
Wed, 14 May 2008 22:55:31 GMT
Investor's Business Daily - The Mortgage Bankers Association said mortgage applications for the week ended May 9 rose 2.9% to 674.4. The group said applications rose for a 2nd week as lower interest rates sparked a 6.5% jump in refinancing activity. Applications for buying a home fell 0.7%. With Treasury yields near 2008 highs, mortgage rates are moving back up.
Chinese shares rebound from losses after quake
(AP)
Wed, 14 May 2008 05:46:20 GMT
 AP - Chinese stocks rose Wednesday morning, rebounding from losses that came after an earthquake killed thousands of people and devastated parts of central China's Sichuan province.
Accounting changes help Freddie Mac beat expectations in 1Q
(AP)
Wed, 14 May 2008 21:58:17 GMT
 AP - Freddie Mac beat Wall Street's expectations in the first quarter, but the mortgage finance company didn't vanquish concerns about its ability to weather the housing bust.
Macy's affirms full-year forecast
(Reuters)
Wed, 14 May 2008 16:27:12 GMT
 Reuters - Macy's Inc reported a quarterly
loss on Wednesday, hurt by restructuring costs and falling
sales, but the department store operator stood by its full-year
earnings forecast and its shares rose as much as 8 percent.
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