The Wall Street Journal reports, Credit Suisse dropped the Fitch rating on a bond deal, backed by $746 million in jumbo mortgages originated by MetLife and other lenders, because Fitch took a harsher view than two rivals that assigned triple-A ratings to the deal. Fitch shared its differing view with investors, after the deal closed Friday, publishing a report critical of Standard & Poor’s Ratings Services and DBRS, for issuing triple-A ratings on the residential-mortgage-backed security issued by Credit Suisse.
The Wall Street Journal also reports, The European Central Bank left its main interest rate unchanged, for the fourth straight month, pursuing its tough balancing act, between taming high inflation and supporting the still-weak euro-zone economy. The decision to leave rates at a record low 1%, confirms analysts’ forecasts.
Reuters reports, Facebook fired back on Tuesday in its legal battle with Yahoo, by accusing the Web pioneer of infringing 10 of Facebook’s patents. The counterclaim from Facebook, comes after Yahoo sued Facebook for patent infringement last month. Yahoo’s lawsuit against Facebook came at a delicate time, as the world’s largest Internet social networking service, is preparing for an initial public offering, that could value the company at up to $100 billion. But Facebook’s counterclaim comes as Yahoo addresses its own challenges: the Web pioneer has seen declining revenue, and newly installed CEO Scott Thompson, is facing a contentious proxy fight with activist hedge fund Third Point.
Finally Bloomberg reports, BMW, helped by a redesigned 3 Series sedan and a March sales increase of 18 percent, finished the first quarter with 36 more deliveries than Daimler’s Mercedes-Benz in the U.S.
Sales gains by both BMW and Mercedes last month, indicate that the battle to be the top-selling luxury brand in the U.S. will continue through 2012, as inventories and new products arrive in dealerships. BMW took the top spot last year with a lead of just 2,715 units over its German rival.
The Wall Street Journal reports, Credit Suisse dropped the Fitch rating on a bond deal, backed by $746 million in jumbo mortgages originated by MetLife and other lenders, because Fitch took a harsher view than two rivals that assigned triple-A ratings to the deal. Fitch shared its differing view with investors, after the deal closed Friday, publishing a report critical of Standard & Poor’s Ratings Services and DBRS, for issuing triple-A ratings on the residential-mortgage-backed security issued by Credit Suisse.
The Wall Street Journal also reports, The European Central Bank left its main interest rate unchanged, for the fourth straight month, pursuing its tough balancing act, between taming high inflation and supporting the still-weak euro-zone economy. The decision to leave rates at a record low 1%, confirms analysts’ forecasts.
Reuters reports, Facebook fired back on Tuesday in its legal battle with Yahoo, by accusing the Web pioneer of infringing 10 of Facebook’s patents. The counterclaim from Facebook, comes after Yahoo sued Facebook for patent infringement last month. Yahoo’s lawsuit against Facebook came at a delicate time, as the world’s largest Internet social networking service, is preparing for an initial public offering, that could value the company at up to $100 billion. But Facebook’s counterclaim comes as Yahoo addresses its own challenges: the Web pioneer has seen declining revenue, and newly installed CEO Scott Thompson, is facing a contentious proxy fight with activist hedge fund Third Point.
Finally Bloomberg reports, BMW, helped by a redesigned 3 Series sedan and a March sales increase of 18 percent, finished the first quarter with 36 more deliveries than Daimler’s Mercedes-Benz in the U.S.
Sales gains by both BMW and Mercedes last month, indicate that the battle to be the top-selling luxury brand in the U.S. will continue through 2012, as inventories and new products arrive in dealerships. BMW took the top spot last year with a lead of just 2,715 units over its German rival.