Treasury wants more lender leeway on loans
WASHINGTON (Reuters) - The Treasury Department wants lenders and companies that process monthly mortgage payments to do more to rework troubled home mortgage loans and will announce new measures on Monday aimed at achieving that goal, a department spokeswoman said on Saturday. The New York Times in its Sunday edition quoted Michael Barr, the Treasury Department's assistant secretary for financial institutions, as expressing dissatisfaction with lenders over the slow pace at which they are amending loan agreements to help borrowers make their monthly payments.
Black Friday sales barely up, online surges
CHICAGO (Reuters) - In a worrisome sign for retailers, data released on Saturday showed that sales rose a scant 0.5 percent on the traditional kickoff to the holiday shopping season despite early signs of a strong showing. A focus on bargains pulled shoppers into stores and onto websites over the Thanksgiving holiday weekend, but many said they would stick to their budgets and avoid purchases if they could not find a good deal.
Euro zone sees no default spillover from Dubai woes
NANJING, China (Reuters) - The euro zone does not risk the sort of debt problems plaguing Dubai, senior European Union officials said on Sunday. Dubai was forced to seek a debt standstill last week, rocking global markets and reviving concerns about the fiscal health of some euro zone members, notably Greece.
China reaffirms it wants stable, balanced yuan
BEIJING (Reuters) - Premier Wen Jiabao on Sunday restated China's long-standing position that the yuan's exchange rate should be kept at a reasonable, balanced level. State television showed Wen meeting a trio of top economic officials from the euro zone, who were making the case for a strengthening of the Chinese currency.
UAE cbank sets up liquidity facility for banks