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UPDATE 1-Vale drops iron ore price rise demand, to pay freight

The global economic slowdown, coupled with a domestic housing slump, hit Chinese domestic steel demand and exports. Top steel mills in China have cut output and purchased less iron ore, and are readying for an unprofitable fourth quarter. Lower global ...

Housing market stagnates as buyers disappear

Thousands of home owners have been caught up in Britain's property gridlock and left unable to move. Among the worst places to be trying to sell a home is Aberystwyth in Wales, where 70 per cent of the properties have been on the market for more than ...

The PMI Group, Inc. Reports Third Quarter 2008 Financial Results

In the third quarter of 2008, the primary persistency rate increased to 81.0% compared with 73.3% in the third quarter of 2007, largely as a result of lower levels of refinance activity. -- Losses and LAE in the third quarter of 2008 were $348.2 ...

Credit crisis slows financing for wind farms

... and on-stage interview with Yuliya Chernova, editor of Dow Jones' Clean Technology Insight. To weather the downturn, BP and other companies will have to fund those wind farms and solar-power plants using equity financing. They then can refinance when ...

Central bank chief says Israeli economy resilient

He said the closely-supervised Israeli banks have largely steered clear of risky mortgage investments and the complex financial instruments that have burned fingers elsewhere. Fischer is a former Wall Street heavyweight and senior International ...

HBOS writedowns double to £5.18bn

That and the fall in house prices, had caused the UK’s largest mortgage lender to take an impairment charge of £440m for the nine months, a £227m increase over the first-half number. At the end of the third quarter, specialist mortgages ...

HE'S A JET-'DEBTOR'

The mortgage broker who shelled out $400,000 for the two best seats at the Jets' new stadium has been sacked with a lawsuit by an ex-pal who says the man borrowed money from him and - pleading poverty - hasn't repaid it. Free-spending David Findel ...

Financial road trip:Money Bus stops in Manchester with free advice

Throughout the day, people stopped by with questions on current economic activity, whether to contribute to a Roth IRA instead of a 401(k), or if they should use a home equity loan to get through a recent job loss. Visitors to the Bus could pick up ...

Buyers in a fix as banks refuse to cut home loan rates

With rising interest costs and high property prices, buyers were pinning their hopes on loan rate cuts to buy homes this festive season. For developers, who are staring at a demand slowdown, unchanged rates meant they could not prop up the sales in a ...

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