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WaMu has $3.33B loss, may be cut to "junk"
Washington Mutual has had another miserable quarter. This isn't surprising since a significant portion of their revenues are from mortgage loans. What is surprising is that they haven't undertaken to refinance some of these loans rather than write them down. The most... FHA Takes $4.6 BILLION Hit … It’s Just Taxpayer Money
"FHA Takes $4.6 BILLION Hit … It’s Just Taxpayer Money"Leave it to the government to come up with a home loan program where, if the buyer does not have the low 3% down payment normally required, the seller can pay that for them. So, from day one, the buyers have zero... Apple earnings are up 40% from last year
Apple is reporting a whopping 40% increase in revenue from just a year ago. This hike in Apple’s revenues is attributed to a surge in the sales of its two brand name products Mac and iPod. "Apple reported Mac sales... Indian Investment in Africa: In the Shadows of China
Benin's intro: This is an article that I just penned about India's growing investments into Africa and against the backdrop of the even larger Chinese presence in Africa. The main question that this... Zimbabwe introduces $100 billion banknotes
"HARARE, Zimbabwe (CNN) -- Zimbabwe's troubled central bank introduced new $100 billion banknotes Saturday in a desperate bid to ease the recurrent cash shortages plaguing the inflation-ravaged economy. ... NASA Study Says Water Flowed Freely On Mars
"NASA has discovered more evidence pointing to the possibility of life on Mars. Scientists have studied data from NASA's Mars Reconnaissance Orbiter and they believe Mars once had large lakes, flowing rivers, and other wet environments that could have supported life. A study... Coca-Cola Profit Falls After Writedown at Bottler
Coca-Cola Co., the world's largest soft-drink maker, said second-quarter profit fell 23 percent after its largest bottler wrote down the value of North American assets because of a decline in soda and water sales. ...California Uses More Gas than China
"Given all the news coverage about the rise of the Chinese economy, you could be forgiven for thinking that the world's most populous country is hogging all the world's resources, while the developed nations are fighting for scraps. But, at least with transportation fuel,...Zimbabweans Use Text and Web 2.0 to Weather Crisis
"With the crisis in Zimbabwe going from worse to worse, there are still effective ways to help people there get food and survive.The beep-beep of a received text on a mobile phone is now becoming a much-needed...Gannett Q2 Profits Down 36%, Shares Tank (GCI)
More pain in the newspaper business today."Thanks to a write-down of nearly $3 billion, we knew Gannett (GCI) was looking at an ugly Q2. And Gannett delivered, announcing 36% earnings drop in preliminary results... Viacom gives in to YouTube privacy concerns
An update on the ongoing legal battle between media giant Viacom and video behemoth Youtube: Viacom has backed off on its demand for usernames and IP addresses of infringing Youtubers; well, some of them,... Will Mega Food Parks work in India ?
"The food processing industry is one of the largest in the country and is ranked fifth. Facts and figures show that India is the third largest producer of food, largest milk producer and largest livestock holder in the world. India, the world’s second largest fruit and...American Non Military aid to Pakistan tripled to $7.5
Helping America on war on terror is paying dividends to Pakistan. The American senate has approved three fold hike in non military aid to Pakistan. "Chairman of the US Senate Committee on Foreign Relations Senator Joseph Robinette Biden, Jr on Tuesday introduced a landmark...Connoisseur Chocolate from the South Gets a Higher Price
" I always now buy the nicer chocolate in the stores. I found out it also helps to pay cocoa farmers more money too. Like coffee beans, cocoa beans are grown around the world and are a major commodity, highly...German Citibank sold to French Credit Mutuel for $ 7.7 Billion
"Regional French bank Credit Mutuel said on Friday that it will pay €4.9 billion ($7.7 billion) to buy the German business of US banking giant Citigroup, hard hit by the global financial crisis.Credit Mutuel, which...
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