15 avril 2008
Southland home sales log tepid gain; record price drop
source: dqtnews
The sharp and sudden drop of the Southland median price reflects a combination of factors, mainly depreciation, especially in areas hammered by foreclosures, and a big shift in the types of homes selling. Since last August, when the continuing credit crunch hit, sales have plunged for more expensive homes financed with "jumbo" mortgages, which until recently were defined as loans over $417,000.
Enough With the Interest Rate Cuts
source: The Wall Street Journal
Auteur: Martin Feldstein
It's time for the Federal Reserve to stop reducing the federal funds rate, because the likely benefit is small compared to the potential damage
Lower interest rates could raise the already high prices of energy and food, which are already triggering riots in developing countries. In order to offset the inflationary impact of higher imported commodity prices, central banks in those countries may raise interest rates. Such contractionary policies would reduce real incomes and exacerbate political instability.
Retailing Chains Caught in a Wave of Bankruptcies
source: The New-York Times
To avoid bankruptcy some chains are closing stores. Foot Locker said it would close 140 stores over the next year.
Fears that Russian oil output has hit its peak
source: Financial Times
Russian oil production has peaked, one of the country's top energy executives has warned, fuelling concerns that the world's biggest oil producers cannot keep up with rampant Asian demand.
Swaps Tied to Losses Became `Frankenstein's Monster'
source: Bloomberg
Rather than dispersing risk and lowering borrowing costs as
former Federal Reserve Chairman Alan Greenspan predicted, the
contracts have exacerbated the debt crisis
Some credit-default indexes have morphed into what Wachovia
Corp. analysts led by Glenn Schultz call ``Frankenstein's
monster'' because they now often drive prices in the so-called
cash bond market, rather than the other way around.
Average London home drops by £13,000 in a month
source: The Evening
Research from the Royal Institution of Chartered Surveyors showed house prices falling at the fastest rate for 30 years.
Nouveau record du pétrole à New York, à 113,99 dollars le baril
source: AFP
NEW YORK (AFP) - Le prix du pétrole a établi mardi un nouveau record absolu à New York, à 113,99 dollars, en raison de la fermeture de terminaux au Mexique et des perturbations sur des infrastructures pétrolières au Nigeria.
L'inflation accélère, au plus haut depuis novembre 1991
source: yahoo/AFP
Alexander Law met aussi en avant l'inflation sur les produits manufacturés qui, à 0,5% en rythme annuel, atteint son plus haut niveau depuis plus de cinq ans
UBS prépare un plan social massif touchant 10% des effectifs de la BFI
source: Zonebourse
La banque helvétique s'apprêterait également à mettre le plan de suppressions d'emplois décidé par Marcel Rohner à exécution d'après la chaîne CNBC. Il porterait sur 10% des effectifs de la banque d'investissement, qui compte 20 000 salariés. Le plan officiel devrait être connu début mai d'après un porte-parole d'UBS.
L'OCDE en profond désaccord avec le FMI sur le coût de la crise
source: Challenges