Tesla is the feel-good stock story of the year.. The stock is up more than 360% in one year. Yahoo! Finance Senior Columnist Michael Santoli says Wall Street is all in: “I do think it’s all about willingness to believe. The market is basically ratifying the whole phenomenon of Tesla”
The delinquency rate on U.S. home mortgages fell in the second quarter to the lowest since mid-2008, a fresh sign the housing market recovery is gaining traction.
Warning the service tax defaulters, Finance Minister P Chidambaram on Thursday said after launching the logo of VCES (Voluntary Compliance Encouragement Scheme) that this is an opportunity for all the defaulters to put the past behind and come clean and save themselves from any prosecution and humiliation.
While parallels have been drawn between Detroit and Chicago for their huge unfunded pension liabilities, Jack Ablin of BMO Private Bank says his hometown is in an entirely different position. Says Ablin, Chicago’s population is stable and growing and real estate prices are rising, whereas Detroit’s demise has been a slow and steady decline that started in the 1970s.
World stock markets fell, led by a plunge in Japan’s benchmark index, as expectations mounted that the U.S. central bank will begin to phase out its monetary stimulus next month.
President Barack Obama called for broad reform of the mortgage finance system to boost the U.S. housing market, help still-struggling homeowners, and prevent one of the triggers of the 2007-2009 financial crisis from happening again.
President Obama is proposing to overhaul the nation’s mortgage finance system, including making 30-year mortgages widely available to borrowers, even in a system that would rely more on the private sector than the government to guarantee loans. (Aug.6)
UBS AG agreed to pay $49.8 million to settle U.S. SEC charges it misled investors about a mortgage bond transaction it structured prior to the 2008 financial crisis
This morning, NorthStar Realty Finance (NRF) priced is common share offering of 35 million shares at the price of $9.60 each — leaving the underwriters a 30 day window to purchase an additional 5.25 million shares. NorthStar has offered common shares two other times in the past eight months, pricing 25 million shares at $6.40 in December and 30 million shares priced at $8.39 in February.
John C. Liu, New York City’s comptroller, said his mayoral campaign would continue after a campaign finance board denied him matching public funds, citing fund-raising irregularities.
