http://businesstorrents.com Economic news Fri, 05 Sep 2008 22:48:20 +0000 http://backend.userland.com/rss092 en Home foreclosures and the rate of homes entering foreclosure rose to record highs in the second quarter, the Mortgage Bankers Association said on Friday. "The national foreclosure numbers continue to be driven by the hardest-hit states continuing to get much worse," Jay Brinkmann, the association's chief economist and ... http://businesstorrents.com/home-foreclosures-reach-record-high/ The world's top mobile phone maker Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) warned it would lose market share this quarter as it refused to participate in a price war waged by some rivals to combat weak economies, hitting its shares. Nokia's third-quarter market share would be lower ... http://businesstorrents.com/nokia-warns-on-q3-as-price-war-bites-shares-drop/ President Bush said Tuesday that while it's too early to assess Hurricane Gustav's damage to U.S. oil infrastructure off the Gulf Coast, the storm should prompt Congress to OK more domestic oil production."One thing is for certain, when Congress comes back, they've got to understand that we need ... http://businesstorrents.com/us-needs-more-oil-production-bush/ ATSI Communications Inc. has been selected by Deloitte & Touche LLP as one of the companies that made the Texas Technology Fast 50 list. This means that San Antonio-based ATSI (OTCBB: ATSX) is one of the fastest-growing technology companies in the state of Texas. The full list of winners will ... http://businesstorrents.com/atsi-named-one-of-fastest-growing-texas-tech-companies/ With sliding zinc prices taking their toll on miners, they can be forgiven for asking when the market will turn upwards -- not any time soon, according to market experts. The industry has seen mine closures and output cuts as energy, labor and equipment costs rise while zinc ... http://businesstorrents.com/zinc-prices-to-slide-further-on-oversupply/ A seemingly insignificant event -- the maturing of $7 billion worth of foreign holdings of South Korean bonds this month -- is threatening to plunge the north Asian country into a full-blown currency crisis. The amount itself is tiny, under 3 percent of South Korea's $247 billion in ... http://businesstorrents.com/will-7-billion-debt-plunge-korean-won-into-crisis/ Thousands of motorcyclists from across the country and around the world took part Saturday morning in a parade through the streets of Milwaukee as Harley-Davidson Inc. continued its 105th anniversary celebration. Riders began gathering at Miller Park early Saturday morning for the parade, which has become a standard at Harley-Davidson ... http://businesstorrents.com/harley-rumble-motorcycles-parade-through-milwaukee/ Running a hedge fund was long considered the crown jewel in finance but this summer a growing number of managers have called it quits, unable or unwilling to keep going during one of the industry's worst-ever years. Last week Dan Benton, whose savvy technology bets at Pequot Capital ... http://businesstorrents.com/exiting-managers-cast-pall-over-hedge-fund-industry/ The number of troubled U.S. banks rose 30 percent to 117 in the second quarter, the highest level in five years, and a top regulator warned that conditions will worsen as the housing slump and credit crisis continues to pound profitability. Federal Deposit Insurance Corp (FDIC) Chairman Sheila ... http://businesstorrents.com/fdic-sees-most-problem-banks-since-2003/ Merrill Lynch & Co., Goldman Sachs Group Inc. and Deutsche Bank on Thursday joined other major financial companies in settling with regulators over their roles in selling risky auction-rate securities to retail investors.The agreements bring to 8 the number of global banks that have settled the 5-month probe ... http://businesstorrents.com/banks-to-buy-back-auction-rate-securities/