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Business


Greenspan concedes mortgage dilemma (AP) PDF Print E-mail
Thursday, 13 September 2007
AP - Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.
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Greenspan says didn't see subprime storm brewing (Reuters) PDF Print E-mail
Thursday, 13 September 2007

Alan Greenspan speaks at Book Expo America in New York June 1, 2007. Federal Reserve Chairman Ben Bernanke is doing 'an excellent job' running the U.S. central bank, former Fed chairman Alan Greenspan told the CBS program '60 Minutes,' according to excerpts released on Thursday. (Eric Thayer/Penguin Press/Handout/Reuters)Reuters - Former Federal Reserve Chairman Alan Greenspan said he was late to see the storm gathering around U.S. mortgage lending practices and commended his successor Ben Bernanke's handling of the crisis, saying he would likely be responding in a similar fashion.


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Oil hits new record on refinery outages (AP) PDF Print E-mail
Thursday, 13 September 2007

OPEC Secretary-General Abdullah El-Badri listens to questions during a news conference after a meeting of OPEC oil ministers in Vienna, September 11, 2007. (Heinz-Peter Bader/Reuters)AP - Oil prices briefly hit a record high and gasoline futures rose Thursday as refiners reported production problems after Hurricane Humberto hit Texas.


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ABN AMRO takeover saga enters final chapter (Reuters) PDF Print E-mail
Thursday, 13 September 2007

The ABN Amro logo is seen in central London May 29, 2007. (Stephen Hird - BRITAIN/Reuters)Reuters - Shareholders in ABN AMRO will weigh three key events in the coming week to decide which of two rival bidders will clinch control of the Dutch bank after a six-month takeover battle.


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Euro, oil, subprime crisis gang up on mooted eurozone rate hike (AFP) PDF Print E-mail
Thursday, 13 September 2007

The Euro sculpture is seen in front of the European Central Bank (ECB) building in Frankfurt in June 2007. The ECB says it is ready to raise interest rates, but the euro's strength along with record oil prices and uncertainty from the US home loan crisis has delayed a hike that now looks even less likely.(AFP/File/Martin Oeser)AFP - The ECB says it is ready to raise interest rates, but the euro's strength along with record oil prices and uncertainty from the US home loan crisis has delayed a hike that now looks even less likely.


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