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Three Fannie Mae execs out, shares rally earlier
(Reuters)
Reuters - Fannie Mae , the biggest U.S.
mortgage finance company, on Wednesday announced a shake-up of
top executives, including the exit of its chief financial
officer, in an effort to better implement a plan to preserve
capital and cut losses.
Wed, 27 Aug 2008 22:32:44 GMT
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Fed's Lockhart urges patience amid strained mkts
(Reuters)
Reuters - The Federal Reserve must be "very
vigilant" amid strained financial markets while exercising
patience over interest rates as it waits for inflation to ease,
a top Fed policy-maker said on Wednesday.
Wed, 27 Aug 2008 16:01:11 GMT
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Man accused in extortion scheme blames Blackstone
(Reuters)
Reuters - A man accused of trying to extort
millions of dollars from his son-in-law, an executive of the
Blackstone Group LP , on Wednesday blamed the private
equity firm for his "malicious" arrest and charges.
Wed, 27 Aug 2008 16:57:58 GMT
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Strong data, financials drive stocks higher
(Reuters)
Reuters - Stocks rose on Wednesday as
surprisingly strong data on durable goods orders soothed some
concern about the sluggish economy while Fannie Mae and Freddie
Mac led a rally in financial shares.
Wed, 27 Aug 2008 20:35:40 GMT
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U.S. seeks delay of civil case vs. Bear managers
(Reuters)
Reuters - U.S. federal prosecutors asked
securities regulators to delay a civil case against two former
Bear Stearns hedge fund managers while they hold grand jury
hearings in building a criminal case against the pair.
Wed, 27 Aug 2008 23:20:05 GMT
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Thornburg survival in doubt, sees completing tender
(Reuters)
Reuters - Thornburg Mortgage Inc , a
specialist in jumbo home loans, said its survival remained in
doubt following additional margin calls, but it is on track to
complete a restructuring and avoid collapse.
Tue, 26 Aug 2008 17:28:16 GMT
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Chico's profit beats; J Crew cuts view
(Reuters)
Reuters - Apparel retailers Chico's FAS Inc
and American Eagle Outfitters Inc posted
better-than-expected profits on Tuesday despite taking deep
markdowns to lure shoppers of all ages, sending their shares
higher.
Tue, 26 Aug 2008 21:34:08 GMT
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