Business and Finance news

Housebuilders’ woes were compounded today as ABN Amro downgraded Persimmon and Taylor Wimpey to ‘sell’ from ‘hold’ amid what it sees as continued poor conditions for the housing sector.
Cutting its EPS estimates for the sector by 19% in 2008 and 30% in 2009, ABN retained a ‘cautious’ view saying there still appeared to be downside […]

A ruling yesterday from the state’s highest court over prepayment mortgage charges could make it more expensive for some to obtain home equity loans, the banking industry’s trade association warned.
The Maryland Court of Appeals found that state-chartered Provident Bank assessed a “prepayment charge” that’s not allowed under state law. The bank had waived $680 […]