(Photo : Reuters) On Saturday, Focus magazine reported that Wolfgang Schaeuble, Germany’s Finance Minister, talked to the chairman of UBS. According to the report, the negotiation was about the likelihood of the Swiss bank purchasing the country’s outstanding stake in Commerzbank. The magazine cited no sources. It said that the minister held exploratory talks with the chairman of UBS, Axel Weber.
VOLTA FINANCE : Announcement of 2nd reconvened EGM
The House Republican bill would preserve the FHA, the agency that provides mortgages more cheaply than the private sector for qualified borrowers, many of them first-time homebuyers. The FHA suffered considerable losses after the housing crash that put the agency at risk of exhausting its reserves. But the legislation would restrict wealthier borrowers from tapping FHA loans and force the agency to halve the amount of insurance coverage it offers to lenders when loans fail. The bill would also raise down-payment requirements for the FHA from 3.5 percent to 5 percent for borrowers who are not first-time buyers.
House GOP outlines plans for mortgage finance
Despite his battle with a rare skin disease and potential to make significantly more money in the private sector, Flaherty has said he wants to stay on as finance minister until he balances the budget, something the government has vowed to do by the 2015 election campaign. Flaherty’s more than seven years on the job amid a global economic crisis make him one of the most important finance ministers of the last half century, say some political observers, but others argue his track record is lacklustre and marked by some unflattering financial legacies. Should the 63-year-old Flaherty leave federal politics, Harper would have a huge hole to fill in arguably his most important cabinet post. The Whitby-Oshawa MP is the longest-serving finance minister in the G8, well liked by MPs on both sides of the House of Commons and is the government’s senior minister for the Greater Toronto Area.
Flaherty’s time as finance minister may be over, but any successor faces PM oversight
Its investment objectives are to preserve capital and to provide a stable stream of income to its shareholders through dividends. For this purpose, it pursues a multi- asset investment strategy targeting various underlying assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; automobile loans. Volta Finance Limited’s basic approach to its underlying assets is through vehicles and arrangements that provide leveraged exposure to some of those underlying assets.