Small Florida bank is 8th U.S. failure this year
WASHINGTON (Reuters) - Bank regulators closed a small Florida-based bank on Friday, the eighth U.S. bank to fail this year under pressure from a weak economy and a credit crisis precipitated by falling home prices. The Federal Deposit Insurance Corp said First Priority Bank had $259 million in assets and $227 million in deposits and its failure will cost the federal fund that insures deposits an estimated $72 million.
S&P emails slammed mortgage debt products: report
CHICAGO (Reuters) - Analysts at Standard & Poor's Rating Services warned against mortgage-related debt products in internal e-mails that, in one case, called the complex financial deals "ridiculous," the Wall Street Journal reported in its weekend edition. The Journal cited a draft revision of a U.S. Securities and Exchange Commission report on bond-rating firms that was first released on July 8.
Yahoo board wins solid shareholder backing in vote
SAN JOSE, California (Reuters) - Yahoo Inc's (YHOO.O) board of directors won strong backing from shareholders at its annual meeting on Friday, with Jerry Yang, the company's embattled CEO, receiving 85 percent of the vote in his favor. Investors holding nearly 76 percent of Yahoo's 1.38 billion shares gave solid votes in favor of all nine current directors, in what represents an endorsement of their tough stance with Microsoft Corp (MSFT.O) in talks on a merger or partial sale.
Carrefour denies report it looking for new chief
PARIS (Reuters) - French supermarket chain Carrefour (CARR.PA) denied on Saturday that it had hired headhunters to seek a replacement for Jose Luis Duran, its chief executive. The Financial Times quoted an unnamed prominent businessman as saying he had been approached by a headhunter before a July 28 shareholder meeting called to approve a simplification in the management structure.
No comments:
Post a Comment