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« Banks Have Bottomed Out? Don't Bet On It | Main | 3 Dividend Plays From the S&P Global Challengers »

July 25, 2008

Around the World - Economic News You Need to Know

RealtyTrac reports that US home foreclosures have doubled since last year: BBC   And the market has decided that steel stocks are not the place to be.  ArcelorMittal (MT) is down 12%, Gerdau SA (GGB) is down 13%, and US Steel (X) is down 13%, all over the last 10 days.  More news follows - it has been a litigious week:

Russia_flag_2

Russsia sues Bank of New York Mellon (BK) for RICO. Intl. Herald Tribune

Russia_flag

Opinion: Russia for speculators not investors.  Telegraph

UsflagRegulators seize banks in California and Nevada. Financial Times

Us_flagBank of America (BAC) announces regular dividend and buyback.  CNN Money

Brazil20flag_2Brazil's central bank raises rate to 13%.  Reuters

Russia_flagMechel (MTL) shares drop 30% on Putin comments.  Reuters

Us_flagNew York sues UBS for fraud. Wall Street Journal

Us_flag_2

City of Los Angeles sues bond insurers alleging fraud. Forbes

Us_flag_5San Diego sues BAC to stop foreclosures. CNBC

 

Posted at 10:05 AM in ECONOMIC NEWS |

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