AP - Deutsche Bank AG reported a surprise third-quarter profit on Thursday, helped by new European Union accounting rules that limited its write-downs of shaky assets hit by the subprime crisis to 1.2 billion euros ($1.5 billion).
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AFP - Bank of China said it had posted 26.3 billion yuan (3.8 billion dollars) in potential losses on assets at the end of September, partially related to US subprime mortgage-backed securities.
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Reuters - Former Fannie Mae Chief Executive Daniel Mudd wished he said “no” to more of the things the company was asked to do, he told the Wall Street Journal in an interview.
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AP - A woman distraught over losing her house showed up to watch it auctioned off, but that wasn’t the end of the story. Tracy Orr will return home after a stranger bought the house back for her Saturday.
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AP - The government is considering a plan that would help around 3 million homeowners avoid foreclosure, sources briefed on the matter said.
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Westfield Mall, the largest mall in a European city, opens Thursday, but its timing couldn’t be worse. Britain’s economy is sliding into a recession.
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Activist investor William Ackman proposed spinning off the land Target owns under its stores into a separate real estate investment trust.
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Wynn Resorts is moving ahead on a $2.3 billion Las Vegas resort at a time when rival casino companies are pulling back on projects.
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A high-profile British developer has defaulted on a $365 million loan for prime land it bought in Beverly Hills as part of a plan to build luxury condos.
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Reuters - GMAC LLC, the auto and mortgage finance company, on Tuesday said it had been approved to use the commercial paper funding facility created earlier this month by the U.S. Federal Reserve with the aim of easing pressure on the corporate credit market.
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