The ECB reports receiving record cash deposits as Europe’s banks remain nervous about lending to each other.

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Banks pile up record cash at ECB

New rules to stop the resurgence of risky mortgage lending are likely to be imposed in 2013 by the financial regulator.

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Stricter mortgage rules outlined

LONDON — Euphoria over a move by the world’s major central banks to keep Europe’s debt crisis from choking off global lending was tempered Thursday amid renewed signs of the region’s slowing growth and reminders that European woes have no easy fix. Stock markets in Asia were broadly up on the coordinated move by central banks on Wednesday. But markets in Europe opened down, rebounded after relatively good bond auctions in Spain and France, and were mixed approaching midday. Read full article > >

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Dramatic move by central banks cannot solve Europe’s debt woes

European markets open flat after strong gains on Wednesday sparked by a plan by some of the world’s biggest central banks to stimulate lending.

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Stock markets steady on bank plan

Asian markets jump, following a rally in the US and Europe, after a group of central banks move to boost global lending.

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Asian shares jump in global rally

The country’s central bank will reduce the reserve requirement ratio in an attempt to encourage banks to increase lending.

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China, in Surprising Shift, Takes Steps to Spur Bank Lending

As European banks pull back on lending, companies around the globe are finding it harder to borrow, edging the world economy toward another slump.

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Businesses Scramble as Credit Tightens in Europe

The teardown experts at market research company IHS iSuppli have taken their tools to the hot new Kindle Fire tablet and found that Amazon is definitely selling the devices at a loss. The Fire, which retails for $199, apparently costs near $202 — $201.70 to be exact — to make. That’s no surprise, since the company already loses money on its Kindle e-reader tablets (especially now that they start at $79), making its profit from the media and other goods that users buy through the devices. The Kindle Fire is particularly good for this, as it comes with a free month of membership to Amazon’s Prime service, which normally costs $79 per year. Amazon has a good chance of getting a lot of new subscribers hooked on its on-demand video, limited lending library and shipping discounts through the tablet. Read full article > >

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Amazon loses $3 on every Kindle Fire

He sits almost anonymously on the periphery of this World Series, like the parking lot beyond center field at Busch Stadium in St. Louis — the parking lot where the old Busch Stadium used to stand, the stadium where Mark McGwire once ruled the sport, the sport that, after a long exile, welcomed him back two years ago. Like that parking lot, McGwire is here now for his utility, not his glory. Read full article > >

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2011 World Series: For Cardinals’ Mark McGwire, blending into the background is just fine

Former Gov. Mario M. Cuomo is a lead investor in a group aiming to acquire a small Long Island bank with a line of lending aimed at municipal governments in the state.

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Mario Cuomo’s Banking Venture Poses Test for His Son, the Governor

UK mortgage lending rose by 6% in August compared with July although seasonal factors were key to the rise, lenders say.

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Summer lift in mortgage lending

BERLIN — As investors dumped stocks Friday on both sides of the Atlantic, a growing suspicion that Europe’s banks are on shaky ground offered more evidence that the struggling global economic recovery is in trouble. The increasing mistrust of Europe’s banks is threatening to drag down the continent’s already sluggish economy and prompting new worries for American financial firms that do business with their European counterparts. The concerns about the health of Europe’s financial firms are making it harder for them to raise money. In turn, they are under pressure to charge more for loans they offer to businesses and consumers on the continent. The resulting credit crunch, though not nearly as severe, has echoes of three years ago when Wall Street’s meltdown prompted fearful banks and businesses in the United States and elsewhere to stop lending each other money, choking off the economy’s lifeblood. Read full article > >

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Banks, entwined in government debt, contribute to Europe’s dimming outlook

It sure looked like a good deal at the time. A nonprofit developer promised to spend millions renovating three rotting apartment complexes in some of the most blighted neighborhoods of Southeast Washington. It would be one of the largest redevelopment projects in years east of the Anacostia River, helping dozens of low-income renters suffering through roof leaks and winters without heat. In late 2007, then-Mayor Adrian Fenty sent a letter to the D.C. Council touting the developer’s experience, construction team and financing. The council swiftly approved the deal, lending $3.5 million in federal funds to help pay for the renovation of 98 units priced for the poor. Read full article > >

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Speculators score, District loses in affordable-housing deal

Swiss banking giant UBS says it is being investigated by US regulators for allegedly manipulating the interbank lending rate Libor.

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UBS investigated by US regulators

Ordinary 18th-century Americans fought for fair access to small-scale credit and usable currencies. Big finance fought back. read more

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Democratic Finance vs.Banking Fraud in Early America