Newspaper wrap-up: FBI investigating Unisys
Posted Sep 24th 2007 9:20AM by Eric Buscemi
Filed under: Newspapers, Magazines, Microsoft (MSFT), Home Depot (HD), Barclays plc ADS (BCS), BHP Billiton Ltd ADR (BHP)
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MAJOR PAPERS:
- Singapore Airlines deal to buy 15.7% of China Eastern Airlines (NYSE: CEA), along with their parent Temasek Holding's 8.3% share, may be in jeopardy as Cathay Pacific Airways is said to also be interested in China Eastern, reported the Wall Street Journal.
OTHER PAPERS:
- As a part of its annual report to be released this week, BHP Billiton Limited (NYSE: BHP) is expected to announce that it has uncovered potentially the largest gold reserves in the world at its South Australian Olympic Dam mine, reported the Herald Sun.
- According to the Washington Post, citing congressional investigators, the FBI is investigating technology company Unisys Corporation (NYSE: UIS) after it allegedly failed to detect "cyber break-ins traced to a Chinese-language Web site and then tried to cover up its deficiencies."
- The Telegraph reported that British bank Barclays (NYSE: BCS) is reportedly preparing to sell FirstPlus, one of its subprime consumer loan units, at a loss. Barclays is expected to obtain a price lower than GBP4.5B, the book value of the unit's loan portfolio.
- Microsoft Corporation (NASDAQ: MSFT) will tomorrow release its 'Halo 3' video game and the company expects over $150M in sales in the first 24 hours of its release, and a profit margin that could reach 90%, reported the Los Angeles Times.
- Housing slump or not, Home Depot Inc (NYSE: HD) CEO Frank Blake says there will be no large jobs cuts or store closings, reported the Associated Press.
Tags: ap, associated press, AssociatedPress, barclays, bcs, bhp, bhp billiton, BhpBilliton, cea, china eastern, ChinaEastern, halo 3, Halo3, hd, herald sun, HeraldSun, home depot, HomeDepot, la times, LaTimes, microsoft, msft, newspaper, paper, periodical, telegraph, uis, unisys, wall street journal, WallStreetJournal, washington post, WashingtonPost, wsj
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Reader Comments (Page 1 of 1)
9-24-2007 @ 1:05PM
marianne said...
It should be noted that there is a differentiated value for subprime or stated income loans in the commercial lending market. This loan type is not entirely bad despite the abuse of some in the residential lending arena. Oftentimes, individuals that want to start or acquire a small business, purchase a gas station, acquire a motel, open an auto repair shop or any of a myriad of sole proprietor establishements, and do not have the portfolio that would make them attractive to the big box leaders. Lending companies like Ocean Capital in Rhode Island offer subprime and stated income loans by using up close and personal evaluations of the borrower and the opportunity. We need companies like this to support new business opportunities.