Real Estate
Writedown fears return to Wall St (FT.com)
FT.com - Wall Street stocks were set to open lower on Friday amid fears of bigger-than-expected writedowns and loan-losses at financial companies and as Bank of America (NYSE:BAC) agreed to absorb Countrywide Financial (NYSE:CFC), the troubled mortgage lender. Read more…
Bank of America to buy Countrywide for $4 billion (Reuters)
Reuters - Bank of America Corp said on Friday it agreed to acquire battered mortgage lender Countrywide Financial Corp in a $4 billion transaction that could help avert one of the biggest collapses from the U.S. housing crisis. Read more…
Swiss bank UBS warns of difficult year ahead (AFP)
AFP - Swiss banking giant UBS on Friday warned of a "difficult" year ahead after losing 10 billion dollars (6.8 billion euros) in the US subprime mortgage crisis. Read more…
Bank of America buys Countrywide (AFP)
AFP - Bank of America announced Friday it was buying mortgage lender Countrywide Financial in a four-billion-dollar deal. Read more…
Consumer confidence sinks to record low (AP)
AP - Consumer confidence fell to an all-time low as worries about jobs, energy bills and home foreclosures darkened people's feelings about the country's economic health and their own financial well-being. Read more…
