BUSINESS NOTES SHORT-TERM T-BILLS DIP IN MONDAY SALE.WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $10 billion in three-month bills at a discount rate of 4.710 percent, down from 4.905 percent last week. An additional $10 billion was sold in six-month bills at a rate of 4.495 percent, down from 4.770 percent. In a separate report, the Federal Reserve said Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , fell to 4.69 percent last week from 4.80 percent the previous week. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Interest rate hope buoys Wall Street NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Buyers took back control of Wall Street on Monday on a bet that the Federal Reserve will lower interest rates before its March 20 meeting. The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. closed up 200.63 at 10,642.53. The 1.9 percent gain represented the Dow's biggest one-day point increase since Jan. 3, when it rose 299 points. The Nasdaq composite index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed advanced 45.99 to 2,308.50, a 2.0 percent increase, and the Standard & Poor's 500 index was up 21.79 at 1,267.65, or 1.8 percent. - Associated Press Real estate site to buy competitor WESTLAKE VILLAGE - Real estate Web site Homestore.com Inc. has agreed to acquire rival Homebid.com Inc. Homestore.com Inc. said Monday that it will acquire ``substantially all the assets'' of Scottsdale, Ariz.-based Homebid.com. Neither side would disclose terms. Homebid's Offer Manager technology helped real estate agents manage offers and negotiate home sales over the Internet. The technology will be more widely adopted as part of Homestore.com's e-Realtor.com system, the two companies said. - Associated Press Investors to buy CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. CB Richard Ellis Services Inc., the big Los Angeles-based real estate services company, is being bought by a private investor group for $750 million. The offer from Blum CB Corp. is valued at $16 per share. In November, the group, an affiliate of Blum Capital Partners, Freeman Spogli & Co. offered $15.50 a share. No layoffs are planned if the deal is approved. - Daily News Live `Fat Albert' planned as film Bill Cosby's ``Fat Albert'' character is coming to the big screen as a live-action film. Cosby and his wife will be executive producers for the film planned by 20th Century Fox. No start date has been set for the feature, which is being produced by Davis Entertainment Co. ``Fat Albert'' and his friends will be based on Cosby's stand-up stand·up or stand-up adj. 1. Standing erect; upright: a standup collar. 2. Taken, done, or used while standing: a standup supper; a standup bar. routines about a group of urban youths in Philadelphia. The characters also were featured as a long-running Saturday morning cartoon Saturday morning cartoon is the colloquial term for the animated television programming which was typically scheduled on Saturday mornings on the major American television networks from the 1960s to the 1990s. on television. - Associated Press Plan puts Chrysler back in the black DETROIT - DaimerChrysler AG's ailing Chrysler division expects to be back in the black next year under a $3.9 billion revival plan outlined Monday. The plan is aimed to quell quell tr.v. quelled, quell·ing, quells 1. To put down forcibly; suppress: Police quelled the riot. 2. Wall Street concerns that the 1998 deal that formed the company has been a promise unfulfilled. - Associated Press |
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