Archive for November 22nd, 2009
Dozens of asylum seekers injured in detention riot (AP)
Sunday, November 22nd, 2009
AP – Sri Lankan and Afghan asylum seekers were separated at an island immigration detention center after a riot left 37 injured, an official said Monday.
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NY judge: Mortgage scammer to give lectures (AP)
Sunday, November 22nd, 2009
AP – A Long Island woman convicted of acting as a “straw buyer” in a mortgage fraud scam has been ordered to give lectures on the perils of participating in such criminal schemes.
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Rates on 30-year mortgages remain below 5 percent (AP)
Sunday, November 22nd, 2009
AP – Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday.
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U.S. foreclosures, delinquencies jump in 3rd quarter (Reuters)
Sunday, November 22nd, 2009
Reuters – U.S. mortgage delinquency rates and the percentage of loans that entered the foreclosure process jumped in the third quarter, with both reaching record highs, the Mortgage Bankers Association said on Thursday.
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Housing starts fall sharply, inflation edges up (Reuters)
Sunday, November 22nd, 2009
Reuters – Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy’s sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
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Behind the Home Building ‘Shocker’ (U.S. News & World Report)
Sunday, November 22nd, 2009
U.S. News & World Report – The fitful nature of the housing sector’s healing process was apparent Wednesday when a government report on new-home construction came in much weaker than economists had expected. The Commerce Department reported that October housing starts dropped nearly 11 percent from September and almost 31 percent from a year earlier. “The headline number is a shocker,” Patrick Newport, U.S. economist at IHS Global Insight, said in a report. Here are four things you need to know about the development:
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US housing concerns weigh on world markets (AP)
Sunday, November 22nd, 2009
AP – European stocks pared most of their gains Wednesday and Wall Street traded lower after a sharp fall in U.S. housing starts in October fueled concerns the U.S. economic recovery will not be as strong as some expected.
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Ohio business group endorses tax plan (AP)
Sunday, November 22nd, 2009
AP – A business lobbying group that helped create a package of tax changes says it supports a plan to delay income tax cuts to balance Ohio’s budget.
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Income tax surcharge under study by NM task force (AP)
Sunday, November 22nd, 2009
AP – Nearly three dozen tax increase proposals to help New Mexico cope with a budget shortfall are under consideration by a task force formed by Gov. Bill Richardson.
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J.M. Smucker 2nd-quarter profit soars on coffee (AP)
Sunday, November 22nd, 2009
AP – J.M. Smucker Co. nearly tripled its profit in the second quarter as the addition of Folgers coffee gave a jolt to its lineup and lower commodity prices for coffee beans and other items fattened its profit margins.
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