Thursday, 21 January 2010

Bank of America losses USD 5.2 billion: Brian Moynihan, the bank's newly-appointed CEO, described the company's latest results as "disappointing," saying that the state of the US economy is a cause for concern.

Illinois enters a state of insolvency: While it appears unlikely or even impossible for a state to hide out from creditors in Bankruptcy Court, Illinois appears to meet classic definitions of insolvency

US housing starts unexpectedly fall in Dec: New U.S. housing starts unexpectedly fell in December, pulled down by a drop in construction activity for single-family dwellings, a government report showed on Wednesday.

U.S. Housing Starts Down 39% in 2009: For the full year, housing starts were down 38% to an estimated 553,800 housing units versus the 2008 figure of 905,500.