US President George W. Bush is set to announce a freeze on some subprime mortgages in an effort to stop a wave of foreclosures undoing the six-year expansion.
The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said.
Fannie Mae, the largest US mortgage-finance company, is prepared to pay three-quarters of a percentage point more in annual dividends on $7 billion of new preferred stock than it did just last month on a similar security.
Economic growth is losing steam in the industrialized world after a strong run and the US economy is slowing hard but not sliding into recession, the Organization for Economic Cooperation and Development said yesterday.
Over 12,000 visitors from 97 countries and regions visited the second Automechanika Shanghai, which took place at the Shanghai New International Expo Center late last year.
The Shanghai International Trade Fair for Automotive Parts, Equipment and Service Suppliers (Automechanika Shanghai) takes place today at the Shanghai New International Expo Center. The trade event is scheduled to end on Friday.
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