| Evicted owner to air appeal
Kwaku Atta Poku, the Columbia cab owner who lost his family's townhouse to foreclosure after a refinancing, despite having made every mortgage payment, is to get another chance to present his case today in Maryland's highest court.
In arguments that could change how lower courts handle foreclosure cases, attorneys for the immigrant from Ghana are fighting to overturn rulings in favor of Washington Mutual Inc., the national mortgage company that took and resold his Howard County house in 2005.
Maryland law does not require a mortgage company to prove that a homeowner has been notified of a foreclosure and allows the taking of a house in a few weeks.
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US rates reduced for third time
A quarter point isn't a heck of a lot and the stock market is concerned there isn't enough liquidity," said Robert Macintosh, chief economist at Eaton Vance. "I just don't know what a quarter point will accomplish." Global oil prices had surged before the Fed's announcement amid pipeline shutdowns in the US due to weather problems and a bomb attack in Algeria, a key oil exporter. New York sweet, light oil jumped more than $2 to trade past the $90 level, while Brent crude in London also surged up $1.90, to $89.94. Energy traders have been divided in recent weeks over the direction of oil with the bulls betting that supply will be tight during the cold winter months, while others see demand for energy contracting as the US economy shrinks. Downturn feared The Fed warned that recent economic data indicated a slowdown in the US economy as a result of "the intensification of the housing correction and some softening in business and consumer spending".
Bridging the Gulf with grand aims and a huge budget
Fleet Street is in a state of flux, with hacks being thrown out in the cold, and it's rare to see a paper of this size being launched.' Then there is the growing interest in the Gulf region, he explains, ordering a lime soda. 'You just get snatches of the things that are happening here... but when a senior expat arrives people really start to look... In fact, the region has been booming for a while, since oil prices started shooting up, but only now have people got a peg.' His newspaper is one of a series of English-language publications being launched in the Gulf by British journalists. Two weeks ago, Dubai saw Frank Kane, former Sunday Times and Observer business editor, launch Business 24/7 there. Its advertising posters asking 'Are you a bull or a bear?' line the desert highway between the city and Abu Dhabi.
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