24 June, 2015 by The TZ Newswire Staff Comments Off on Lennar’s profit rises 33 pct on higher home sales
Lennar’s profit rises 33 pct on higher home sales
Lennar Corp, the No.2 U.S. homebuilder by sales, reported a 33 percent rise in quarterly profit as it sold more homes at higher prices, and said orders rose 17.6 percent. Net income attributable to Lennar …
24 June, 2015 by The TZ Newswire Staff Comments Off on Subprime auto loans get stretched to seven years
Subprime auto loans get stretched to seven years
Of the subprime vehicle loans bundled into securities, 73 percent now exceed five years, up from 64 percent during the first three months of 2014, according to data from Citigroup Inc. Loans as long as seven years are increasingly being put into more bonds as auto-finance companies and Wall Street banks sell the securities at the fastest pace since 2007. While the securities are attracting plenty of buyers with high loss buffers and AAA ratings, some investors are beginning to question the wisdom of lending at terms that have never before extended beyond five years.
24 June, 2015 by The TZ Newswire Staff Comments Off on Futures dip after Greece’s lenders reject some proposals
Futures dip after Greece’s lenders reject some proposals
* Greek Prime Minister Alexis Tsipras has attacked the stance of “certain” creditors as “strange” because they rejected proposals presented by Athens to bridge a budget gap, a government official said without referring to specific proposals or which of the three institutions Tsipras was blaming for the deadlock. * Tsipras will meet the heads of the European Central Bank, the International Monetary Fund and the European Commission in Brussels before a meeting of euro zone finance ministers at 1300 p.m. ET.
24 June, 2015 by The TZ Newswire Staff Comments Off on Why Vladimir Putin wants Texas to secede from the US
Why Vladimir Putin wants Texas to secede from the US
Support for the secessionist cause still remains strong in … the Kremlin, the Fiscal Times reports.
24 June, 2015 by The TZ Newswire Staff Comments Off on Nearly 400K without power as storm cleanup begins
Nearly 400K without power as storm cleanup begins
Powerful storms that plowed through eastern Pennsylvania and New Jersey downed trees and power lines, leaving nearly 400,000 without electricity.
24 June, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Google yet to respond to EU antitrust charge
The Wall Street Journal: Google yet to respond to EU antitrust charge
Google Inc. hasn’t responded, after an initial 10-week deadline, to European Union charges that the U.S.
24 June, 2015 by The TZ Newswire Staff Comments Off on Market Snapshot: U.S. stocks set for first drop of the week ahead of GDP data
Market Snapshot: U.S. stocks set for first drop of the week ahead of GDP data
U.S. stocks head for their first loss in three days, with futures tilting lower ahead of the final revision to U.S.