Publisher McGraw-Hill is replacing the president of Standard & Poor's, the company's financial services division, effective immediately, amid questions about the role of credit-rating agencies in the subprime mortgage crisis.
Barclays Capital, the investment banking arm of U.K. bank Barclays, said on Friday it will provide financing to a structured investment vehicle (SIV) it helped set up last year.
The credit market is experiencing an unprecedented loss of confidence due to the lack of transparency over where exposures lie rather than underlying credit quality problems, Moody's Investors Service President Brian Clarkson said on Thursday.
Thornburg Mortgage, hurt recently by a credit squeeze, said on Thursday it raised $500 million in an offering of convertible preferred stock.
U.S. Treasuries rose Thursday as the market digested a government debt auction with ease and investors found more reasons to seek safe-haven investments in bonds.
Credit Agricole, reported a 0.6% rise in second-quarter net profit, which beat an average forecast, and said the U.S. subprime mortgage crisis has had a limited impact on it.
Indian companies that process U.S. mortgages are reporting fewer work orders and diminishing revenue because of the subprime loan fallout overseas.