BUSINESS NOTES SLOW-DOWN IN CONSTRUCTION LIKELY TO MEAN HIGHER RENTS.A sluggish October for home building in California sent state estimates for construction this year falling to barely half of the expected demand. The state Finance Department said Wednesday that builders pulled permits last month at a rate that would result in 132,500 homes being built this year. The agency had originally anticipated that 156,000 homes would be built, and estimates it would take as many as 250,000 homes to keep up with projected growth. Economists say the slow rate of construction mean buyers and renters will be paying more in the coming months, especially in coastal communities where rents and sales figures sales figures npl → cifras fpl de ventas already are at record highs. - 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. Countrywide Credit to start asset operations in Europe CALABASAS - Countrywide Credit Industries Inc. announced Thursday it will begin distributing mortgage and asset-backed securities in Europe through its new subsidiary CCM CCM Contemporary Christian Music CCM Critical Care Medicine CCM County College of Morris (New Jersey) CCM Chama Cha Mapinduzi (political party, Tanzania) CCM CORBA Component Model International Ltd. CCM International will pursue securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of mortgages through the origination platform of Global Home Loans, Ltd., a United Kingdom-based joint venture between Countrywide and Woolwich plc. Based in Calabasas, Countrywide provides consumer and business-to- business financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. in domestic and international markets. Consumer businesses include mortgages, insurance and other financial products. Business-to-business activities encompass capital markets, transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and insurance. - Daily News Disney launches passports that cover new theme park ANAHEIM - In anticipation of opening Disney's California Adventure Disney's California Adventure is a theme park in Anaheim, California, adjacent to Disneyland Park and part of the larger Disneyland Resort. It opened on February 8, 2001. The park is owned and operated by The Walt Disney Company. Park on Feb. 8, The Disneyland Resort
The Disneyland Resort is a recreational resort complex in Anaheim, California. introduced Thursday three new annual passports that offer year-round admission into the new park and the original Disneyland Park Disneyland Park or Disneyland park may refer to:
Three versions of the ``2-Park'' passports are available, including a premium package with admission to both parks, free parking, food and merchandise discounts and special rates on Disney hotels. The premium pass is available for $284 through January at Disneyland's main ticket booths and by phone at (714) 781-4043. - Daily News Builder to erect $7 million Hilton hotel in Calabasas CALABASAS - An Irvine-based hotel builder has signed a $7 million contract to build a Hilton Garden Inn Hilton Garden Inn is the name of a chain of hotels operated by Hilton Hotels Corporation. Hilton Garden Inns are considered to be upscale, mid-priced hotels that are designed for both business and leisure travelers. The hotel brand is similar to that of the Courtyard by Marriott brand. in Calabasas. R.D. Olson Construction will provide general contracting services for the 74,000-square-foot hotel at 24150 Park Sorrento. - City News Service Spanish-language KWHY's plug pulled as revenues fall HOLLYWOOD - KWHY-TV (Channel 22) has left the airwaves after 34 years of providing business news and Spanish-language programming due to a lack of revenue. From 1966 until last year, the station provided live stock quotes and interviews, switching to a Spanish-language format after market hours. In 1999, the station switched to full-time Spanish broadcasting and launched a companion Web site to provide business news. - Daily News Japan's cell phone leader buying into AT&T wireless 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 - AT&T Corp. is selling 16 percent of its wireless business for $9.8 billion to NTT DoCoMo (NTT Mobile Communications Network, Inc., Japan) Founded in 1991, NTT DoCoMo is a spinoff of Japan's NTT (Nippon Telegraph and Telephone Corporation) which provides wireless services, including cellular, paging, satellite and maritime and in-flight telephone services. , Japan's top mobile phone company, giving AT&T new funds and a savvy partner in the drive to deliver mobile Internet services. The widely expected deal announced Thursday gives NTT DoCoMo access to the rapidly growing U.S. wireless phone market while providing AT&T cash to help reduce its massive debt. AT&T also revealed Thursday that it has decided to upgrade its wireless network with the GSM cell phone technology used throughout Europe and Asia. - Associated Press Hewlett-Packard on pace to meet earnings forecast PALO ALTO - Hewlett-Packard Co. assured investors Thursday it is on track to meet earnings expectations despite sluggish sales in the domestic market for personal computers. HP said it expects revenue to grow 15 percent to 17 percent in fiscal 2001 and is comfortable with analysts' expectations the company will earn 44 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in the current quarter. In the same period last year, HP earned 40 cents per share. - Associated Press Regulators set to approve Citigroup's $31 billion buy WASHINGTON - Federal and state banking regulators said Thursday they will not block financial services giant Citigroup Inc.'s $31.1 billion purchase of Associates First Capital Corp., a consumer finance company. The regulators' move followed a pledge by Citigroup in early November to strengthen its consumer safeguards, especially for home equity loans and other loans secured by real estate, as part of its plans to acquire Associates. The Federal Deposit Insurance Corp. released a letter from Michael Zamorski, the acting director of its supervision division, to a Citigroup attorney saying the acquisition ``may proceed immediately.'' The deal is expected to be completed by year's end. Citigroup has said the combined consumer finance operations of the two companies will be the largest in the United States. - Associated Press |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion