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Corporate Debt

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  • UPDATE 1-AT&T revenue rises less than expected Wednesday, 22 Oct 2014 | 4:32 PM ET

    WASHINGTON, Oct 22- AT&T Inc said on Wednesday its quarterly revenue rose but by less than wall street anticipated as a wave of subscribers signed up for equipment financing plans that charge lower service fees. AT&T shares fell 0.9 percent to $33.75 after closing at $34.50 on the New York Stock Exchange. The No. 2 U.S. mobile provider said on Wednesday that...

  • Ocwen skids further as Moody's downgrades credit Wednesday, 22 Oct 2014 | 11:33 AM ET

    NEW YORK— Shares of home loan servicing company Ocwen extended their slump Wednesday after Moody's Investors Service downgraded its credit. Atlanta- based Ocwen Financial Corp. is one of the largest home loan servicing companies in the U.S. Ocwen Financial Corp. said software errors in its correspondence system caused the problem.

  • NEW YORK, Oct 21- Ocwen Financial Corp may have harmed hundreds of thousands of borrowers by sending backdated letters about loan modifications and foreclosures, New York state's financial regulator said on Tuesday, sparking a selloff in shares of the mortgage servicer. The company denied loan modifications in letters that borrowers received more than 30...

  • NEW YORK, Oct 21- Investors who lost money on mid-2000s movies such as "The Manchurian Candidate" took Paramount Pictures to trial on Tuesday in a lawsuit that claims the studio concealed a risky business strategy when it obtained $40 million in financing. Paramount, which is owned by Viacom Inc, says the claims are baseless. The dispute revolves around $40 million...

  • Warning signs from corporate debt     Tuesday, 21 Oct 2014 | 2:30 PM ET

    CNBC's Finance Editor Jeff Cox discusses the corporate debt hike that has occurred since 2011 as well as its long-term impact on the economy.

  • NEW YORK, Oct 21- Shares of Ocwen Financial Corp tumbled on Tuesday after New York's financial regulator said the company, one of the largest U.S. collectors of mortgage payments, may have harmed hundreds of thousands of borrowers by sending letters about loan modifications and foreclosures that were dated months earlier. The company, which has been under...

  • Top mortgage firm accused of abuses Tuesday, 21 Oct 2014 | 1:01 PM ET

    One of the nation's largest servicers of home loans may have denied struggling borrowers the chance to fix loan problems and avoid foreclosures, New York's financial regulator has alleged. An investigation by the state's Department of Financial Services found that Ocwen Financial Corp. inappropriately backdated foreclosure warnings and letters that...

  • NEW YORK, Oct 21- Ocwen Financial Corp, one of the largest U.S. companies that collects mortgage payments, may have harmed hundreds of thousands of borrowers by sending them letters about loan modifications and foreclosures that were dated months earlier, New York's financial regulator said on Tuesday. The company, which has been under scrutiny by New York's...

  • New rules adopted in hopes of spurring home loans Tuesday, 21 Oct 2014 | 10:32 AM ET

    WASHINGTON— Buying a home may have gotten a little easier this week. With the financial crisis and subprime mortgage bust receding further into history, the government is loosening some financial rules, hoping to inject more life into the country's still-recovering housing market. The board of the Federal Deposit Insurance Corp. voted 4-1 Tuesday to adopt...

  • Capital One shares fall as 3Q profit disappoints Thursday, 16 Oct 2014 | 7:11 PM ET

    MCLEAN, Va.— A bigger buffer against loan losses weighed on Capital One Financial Corp.' s third-quarter earnings. The McLean, Virginia- based company said Thursday that it had profit of $1.08 billion, or $1.86 per share. Analysts expected $5.54 billion, according to Zacks Investment Research.

  • Capital One trails St on higher loan loss provision Thursday, 16 Oct 2014 | 6:13 PM ET

    Capital One Financial reported a lower-than-expected profit as it set aside more money to cover soured loans.

  • *Third-quarter net profit $1.86/ share vs est $1.94. Oct 16- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a lower-than-expected quarterly profit as it set aside more money to cover soured loans. The company's net income attributable to shareholders fell 2.9 percent to $1.06 billion, or $1.86 per share, for the...

  • Oct 16- Capital One Financial Corp reported a 2.9 percent fall in quarterly profit as it set aside more money to cover soured loans. The company's net income attributable to shareholders fell to $1.06 billion, or $1.86 per share, for the third quarter ended Sept. 30, from $1.09 billion, or $1.84 per share, a year earlier. Capital One raised its provision for credit...

  • Average US 30-year mortgage rate at 3.97 percent Thursday, 16 Oct 2014 | 10:23 AM ET

    WASHINGTON— Average U.S. mortgage rates tumbled this week. The 30- year loan hit its lowest level since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness. Mortgage company Freddie Mac said Thursday that the nationwide average for a 30- year loan dipped to 3.97 percent from 4.12 percent last week.

  • MOSCOW, Oct 14- Gazprom discussed possible trade and corporate financing along with bond issues with Industrial and Commercial Bank of China Limited, one of the world's biggest, the Russian state-controlled gas company said in a statement. In May, Gazprom has signed a $400- billion gas deal to supply China with gas over 30 years. Gazprom added that bond issues...

  • RUSSIA'S GAZPROM SAYS DISCUSSES POSSIBLE TRADE AND CORPORATE FINANCING, BOND ISSUES WITH INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED.

  • *Agile Property shares close down 17.2 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and speculation about ties to China's former security chief, said it is in talks with banks about extending a bridge loan and the founder's family would commit to lending $200 million. Agile said Chen- whose family wealth of...

  • *Agile Property shares drop more than 20 pct. HONG KONG, Oct 13- Chinese developer Agile Property Holdings Ltd, battling an industry slowdown and media speculation about ties to China's former security chief, said it was in talks with banks about extending what remains of a $475 million loan due in December. Agile said Chen- whose family wealth of $3.2 billion was...

  • HONG KONG, Oct 13- China's Agile Property Holdings Ltd is in talks with banks to extend a remaining bridge loan, the company said on an analyst briefing call on Monday. Shares in the Hong Kong- listed property developer slumped by more than a fifth as trading in the stock resumed following news last week that it withdrew a rights issue and that its chairman Chen Zhuo...

  • Bernanke says he was reluctant on AIG bailout Friday, 10 Oct 2014 | 3:13 PM ET

    WASHINGTON— Former Federal Reserve Chairman Ben Bernanke etched a portrait Friday of his initial reluctance to have the central bank rescue American International Group Inc. in 2008. But he ultimately came to believe the $85 billion bailout loan to the company was needed to avert a shock to the financial system. "I did not make any personal judgments about the...