LOS ANGELES - In 1973, when Bill Gross was 15 and cars were lined up at every gas station in Southern California, the aspiring engineer wanted to do something about spiking energy prices. So he figured out how to build parabolic concentrators and Stirling engines to capture the sun’s energy, selling the plans for $4 [...]
Mortgage rates are rising because of the troubles at the loan finance giants Fannie Mae and Freddie Mac, threatening to deal another blow to the faltering housing market. Even as policy makers rushed to support the two companies, home loan rates approached their highest levels in five years. The average interest rate for 30-year fixed-rate [...]
The mission of the Department of the Treasury (“Treasury”) focuses on promoting economic growth and stability in the United States. Critical to this mission is a sound and competitive financial services industry grounded in robust consumer protection and stable and innovative markets.
Financial institutions play an essential role in the U.S. economy by providing a means [...]
Washington Mutual reported a $3.3 billion quarterly loss Tuesday — far worse than Wall Street was anticipating — as it set aside more money for bad loans. The Seattle-based thrift reported a net loss of $6.58 a share, which included a charge related to a $7 billion capital raise the company announced in April.
Excluding the [...]
Freddie Mac chief Richard Syron wants to avoid a government bailout for many reasons. A filing the struggling mortgage giant made Friday lists over 10 million of them. Syron made $10.6 million last year, according to Freddie Mac’s latest report with the Securities and Exchange Commission. The company disclosed the information in a filing that [...]
In the jungle of the financial world, there are few true blue gentlemen of ideal temperament and standards, whose word you can trust. Early in his scribbling career, Croesus was fortunate to have been taken up by one esteemed Harvard Business School professor Georges Doriot, a wise Frenchman who taught a course on manufacturing, not [...]
The World Bank and its partners need to do a far better job of considering the environmental effects of projects they finance in poor countries, its internal review group concludes in a new report.
Authors of the 181-page environmental report, the first by the bank’s Independent Evaluation Group since 2002, said it was vital for the [...]
MANILA, Philippines — Next to having your own company website, the “in” thing now is to be part of an SME business networking site, a take-off from successful social networking sites like Facebook.com, Friendster.com, MySpace.com, Multiply.com, and LiveJournal.com.
This is exactly how SME Solutions, Inc., an IT-enabling company owned by Planters Development Bank, envisioned Bizster.com.ph to [...]
LONDON (Thomson Financial) - BT Group Plc. said Wednesday it has bought online business directory Ufindus Ltd. from Iomart Group Plc. for 20 million pounds in cash.
Under the agreement, Iomart will continue to provide BT with web-hosting services for Ufindus.
Iomart said it decided to sell Ufindus as the operation was non-core to its hosting and [...]
It’s all part of the dynamic of this larger-than-life play…as oil companies jockey for the power-position in a game where acreage is gold, and business-minded individuals see an opportunity.
If information is power, expertise is priceless -Online Business and right now, both are in demand. A number of “consultants” have emerged, offering advice on mineral leasing.
Some [...]
