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NATO to officially end Libya mission

NATO to officially end Libya mission

After seven months of an aerial bombing campaign that helped depose longtime ruler Moammar Gadhafi, NATO officially ends its mission in Libya on Monday.

Senh: Not that Libya's done. Time for Syria? Oh wait, they don't oil.

 

Some big banks back down from debit-card fee

Sometimes, the big banks can hear their customers. J.P. Morgan Chase & Co. has decided that it won't charge customers who use their debit cards to make purchases.

 

Analysis: Mortgage probe may open new path for housing relief

Analysis: Mortgage probe may open new path for housing relief

Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal... Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal.

Senh: Principal reduction and refinancing for underwater mortgages would be a two steps in the right direction. The only problem what happens to homeowners who have already done loan mods? Would they still qualify for principal reduction and/or refinance? It also sucks that certain programs are only available from one bank, but not another.

 

Wall Street jumps at open on Europe deal

Stocks jumped more than 2 percent at the open on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.

Senh: Good to hear that European leaders finally came together and signed off on a plan to rescue troubled nations in the eurozone.

 

Economy grows at 2.5% in third quarter, easing recession fears

Economy grows at 2.5% in third quarter, easing recession fears

The economy grew at an annual rate of 2.5% in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.

Senh: At least we're not heading into another recession. Any growth is good right now.

 

Case-Shiller index: 'Glimmer of hope' as home prices rise slightly

Case-Shiller index: 'Glimmer of hope' as home prices rise slightly

The closely watched Case-Shiller index of home prices in American cities rose slightly in August from the prior month. Prices of previously owned single-family homes rose 0.2% in August over July and, according to the Standard & Poor's/Case-Shiller index of 20 metropolitan areas. The index dropped 3.8% from the same month a year prior.

Senh: Hopefully, that means we've already hit the bottom, and things are moving up. Apparently, this is the fifth month in a row in which home prices have gone up, so that's the good news. The bad news is that economists are predicting drops in fall and winter, which makes sense since those are the slow periods for real estate.

 

Stocks Rise on Corporate Earnings and Euro Hopes

Stocks Rise on Corporate Earnings and Euro Hopes

Strong corporate results and hope that European leaders were making progress on their debt woes helped lift shares on Wall Street.

 

Regulator unveils help for underwater homeowners

Regulator unveils help for underwater homeowners

A leading housing regulator on Monday announced changes to a government refinancing program that could help up to one million homeowners whose homes are worth less than their mortgage.

Senh: Finally, the government's doing something right. It's step in the right direction. Now, if only banks other than Fannie Mae and Freddie Mac will also do the same.

 

Bombings, beheadings? Stats show a peaceful world

Bombings, beheadings? Stats show a peaceful world

It seems as if violence is everywhere, but it's really on the run. Yes, thousands of people have died in bloody unrest from Africa to Pakistan, while terrorists plot bombings and kidnappings. Wars drag on in Iraq and Afghanistan. In peaceful Norway, a man massacred 69 youths in July. In Mexico, headless bodies turn up, victims of drug cartels. This month eight people died in a shooting in a California hair salon.

Senh: As usual, the numbers don't lie. The news media, on the other hand, make it unbelievable.

 

Obama announces US leaving Iraq

Obama announces US leaving Iraq

All US troops will be pulled out of Iraq by the end of the year, President Barack Obama has announced. He ordered a complete withdrawal from the country, nearly nine years after the invasion under President George W Bush. About 39,000 US troops remain in Iraq, down from a peak of 165,000 in 2008. The US and Iraq were in "full agreement" on how to move forward, Mr Obama said, adding: "The US leaves Iraq with our heads held high."

 

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