Fed values Bear Stearns assets at $29bn (Headlines)
The Federal Reserve Bank of New York on Thursday confirmed the estimated fair value of assets that were formerly held by Bear Stearns at about $29bn, about $1bn less than they were worth when the investment bank was sold to JPMorgan in March.
Marks and Spencerâ??s shares fell more than 20 per cent on Wednesday morning after a profits warning from Britiainâ??s biggest clothing chain prompted analysts to slash profit forecasts for the retailer.
U.K. house prices fell in June by the most since the end of the last recession as banks starved the property market of loans, Nationwide Building Society said.