Fannie and Freddie are not making much progress The revamp of Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FMCC) was not making much, or any, progress.
Investors
Moody affirms “AAA” US credit rating
The credit rating of “AAA” of the US was affirmed by Moody. Moody's Investor Services affirmed the United States' credit rating of AAA. The main reason for the affirmation was a shrinking budget deficit.
BBVA agrees to sell Panama unit for US $646 million to Grupo Aval
Spanish lender BBVA agrees to sell its Panama unit for US $646 million in favor of Colombia’s second biggest banking conglomerate.
Communication is key in exit strategy, ECB’s Visco
Visco of ECB stressed the importance of communication in an exit strategy. Ignazio Visco, a member of the European Central Bank Governing Council, stated that central banks needed to work on improving communication when it comes to exiting from an unprecedented monetary policy.
Apple buys Locationary
After reports of Apple's buyout of HopStop.com, another startup was acquired by the tech giant.
Latest News
Japan was a winner when it came to how its stocks performed on the market. Japanese stocks were performing well. In fact, it topped in terms of gains this year in comparison to 24 major developed equity markets.
Financial firms' physical commodity trading may come to an halt as the Fed reconsiders its policy on this.
Swedbank's rating outlook was raised to stable by S&P. Standard & Poor's Ratings Services (S&P) raised the credit rating outlook of Swedbank AB to stable.
Hutchison Whampoa Limited conducts strategic review for the ParknShop sale. Hutchison Whampoa Limited announced that they are in the midst of conducting a strategic review on the possible sale of its Hong Kong supermarket chain ParknShop.
Premier developer and operator of themed resorts gets US $140 million after a new round of securitization.
Participants of the G20 summit held recently in Moscow expressed concerns regarding US Fed, China, and Japan.
Grohe announced that they received 4 more bids from rival companies Four additional bidders submitted their intent to offers for Grohe, Europe's lagest bathroom equipment maker.
Citigroup Global Markets was picked by bankrupt Jefferson County to handle its bond refinancing. Lawmakers from the bankrupt Jefferson County, Alabama, picked Citigroup Global Markets, part of Citigroup Inc.
Apple Inc announced the acquisition of mapping companies, Locationary and HopStop. Apple Inc announced that they have acquired two small companies, Locationary and HopStop.
