Frankfurt Trust Halts Redemptions at Fund Amid Subprime Concern
http://www.bloomberg.com/apps/news?pid=20601085&sid=azNwjyV3aReg
Housing's ills imperil condo deals
Miami Herald, FL - Aug 5, 2007
Instead of shouldering the development costs alone, Cay Clubs adopted a familiar strategy in South Florida: selling off rooms in resorts as condo-hotel ...
The 'money is just not available to make the necessary payments and continue to maintain Cay Clubs' long-term viability during this down market,'' Chief Executive Dave Clark in May wrote to condo buyers awaiting lease-back checks.
American Home Mortgage to close Friday
Home builders' CEOs make timely stock sales Sub-prime crisis may trigger global meltdown Fed will act on market slide if warranted: Poole Bear Stearns Halts Redemptions on Third Hedge Fund After Losses American Home Can't Fund Mortgages, Shares Plummet Murdoch wins control of Dow Jones Tangle of loans feeds foreclosure crisis DOW JONES INDUSTRIAL AVERAGE
Oil settles at a record high above US$78 on inventory expectations
* 07 Aug 07: 02:43GMT (SGA) - FX NOW! USD/JPY, NZD/JPY Flows - Times:Deutsche and JPMorgan hit by sub-prime crisis (PRESS)
More on subprime worries and banks' exposure. The Times article "Deutsche and JPMorgan hit by sub-prime crisis as lender falls" reported that Deutsche Bank and JPMorgan are totting up their exposure to the latest American sub-prime mortgage casualty after they were named yesterday among the biggest creditors of American Home Mortgage, which has filed for bankruptcy protection. As of the end of March, American Home Mortgage had total borrowings of $4b (GBP1.9b). Last week it had been trying to secure a buyer for two of its businesses, but it failed to close a deal. It also sought to cut costs by dismissing 90% of its staff. FX markets continue to watch any impact of stock markets, though markets, JPY carry trades stable at the moment, USD/JPY 118.80.WL
Mortgage crisis ripple effect seen in other sectors
Dallas Morning News (subscription), TX - 2 hours ago
Large and small corporations are also paying more to borrow – if they can find anyone willing to lend them cash. The same goes for flashy private equity ...
