Sub-prime woes push UBS into red

Home loans drop 35%

The number of new mortgages granted to home buyers slumped to just 62,000 in December 2007, according to the Council of Mortgage Lenders (CML).

Rival Bradford & Bingley eyes Northern Rock

The news came after the Treasury extended financial guarantees to Northern Rock at the lender's request. The government's aid package for the bank now amounts to about £57bn.

The Singapore Temasek Funds on the rescue of Merrill Lynch

The fund sovereign Singapore Temasek could refloat five billion dollars to Merrill Lynch investment bank, hardest hit by the crisis in the subprime.

SuperSIV Rescue Fund soon to be launched in the United States

The fund rescue prepared by Bank of America, Citigroup and JPMorgan Chase & Co. to redeem mounts SIV jeopardized by the crisis in the subprime could be ready to make its first acquisitions assets in the coming weeks. The size of the fund could...

Mortgage rates rise despite Fed rate cut

The mortgage rates rose this week, despite the Federal Reserve decision to reduce short-term interest rate.

$20bn from Fed to ease credit crisis

The US Federal Reserve has made $20bn available to major banks in an attempt to ease concerns about a global credit crunch.

The decline in property prices continues in UK

A report made by the Royal Institution of Chartered Surveyors (RICS), shows that the three months to the end of November property prices had their fastest decline since May 2005.