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    News and Articles on Credit Line

    Archives: Credit Line

    McRae Industries, Inc. Reports Earnings for Fiscal 2008  Nov 22, 2008
    One credit line totaling $1 ... We believe that our current cash and cash equivalents, cash generated from operations, and available credit lines will be sufficient to meet our capital requirements for fiscal 2009. (PR Newswire)

    Foreign buyers of palm oil having difficulty getting LCs  Nov 22, 2008
    Hence, some importers of Malaysian commodities faced difficulties obtaining credit line from their banks. Radwan told StarBiz that if banks did not extend credit facilities to buyers, they could not open LCs. (The Star Online, Malaysia)

    Beg, Steal, or eBay  Nov 22, 2008
    In a gutsy (if not desperate) move, eBay's PayPal will begin testing a service today that extends credit lines to some of its members ... Now PayPal will reach out to credit-worthy active members, giving them a chance to tap a pre-determined credit line to spend through partner merchants (including eBay, of course). (MSNBC -- Business)

    King Arts secures final OK for state grant  Nov 21, 2008
    The 400-seat theater is the site of improvements that Nicholson put into motion by securing a credit line of about $200,000 after learning the funding was lined up. The goal: Bringing the theater, the first building designed by a black architect in Columbus, back to the way it was when it opened 82 years ago. (Columbus Business First, OH)

    Credit-card users face higher fees, rates  Nov 21, 2008
    Home Depot Inc. reduced credit lines on its in-store cards, which are issued by Citibank, for customers with delinquent accounts or those whose credit scores have dropped dramatically ... says American Express notified him last month that it was slashing the credit line on his personal credit card to $500 from $12,000. (AZCentral -- Business)

    Iceland gets its IMF loan, Turkey awaits its own  Nov 21, 2008
    In addition to Iceland, the IMF has recently announced bailout programs for Hungary, Ukraine, Serbia and Pakistan, and created a credit line of as much as $100 billion for healthy countries with liquidity shortages. The Latvian finance minister, Atis Slakteris, said Thursday that Latvia would seek help from the fund to ensure the stability of its financial sector. (International Herald Tribune -- Money Report)

    Doubt greets IMF bailout offers  Nov 21, 2008
    The IMF says it has $200 billion in reserves and can tap an additional $50 billion credit line ... While such conventional programs are being rolled out in Hungary and elsewhere, countries can now also apply for a short-term credit line that has far fewer rules, known as conditionality. (Christian Science Monitor -- World)

    Nordic Countries Add $2.5 Billion to Iceland's Bailout  Nov 20, 2008
    In addition to Iceland, the monetary fund has recently announced bailout programs for Hungary, Pakistan and Ukraine, and created a credit line of as much as $100 billion for countries with liquidity shortages. Japan has pledged $100 billion to replenish the fund s resources, and other governments are expected to follow suit. (Atlanta Journal-Constitution -- Business)

    GMAC Seeks Bank Charter in Hunt for Funds  Nov 20, 2008
    5 billion credit line that GMAC extended to the mortgage lender, which ResCap fully used by the end of the second quarter. -- Mike Barris, Dow Jones Newswires. (SmartMoney)

    Agnico to Sell at Least $252 Million in New Shares to Fund Expansion Plans  Nov 20, 2008
    In August, Boyd doubled the company's credit line to $600 million. The group of banks underwriting the share sale announced today has the option to buy an additional 1. (Bloomberg -- Canada)

    Telvent Announces Third Quarter 2008 Financial Results  Nov 20, 2008
    5 million of net credit line due to related parties) amounted to EUR 200. 3 million, resulting in a net debt position of EUR 128. (Primezone Releases)

    Vale taps Korea for $1.6b loan  Nov 20, 2008
    Vale will ship metals to South Korea as part of the credit line agreed with state-owned Export-Import Bank of Korea, Vale chief executive Roger Agnelli said today after meeting with the presidents of Brazil and South Korea in Brasilia. The global credit crisis and lower metals prices is leading competitors to cut jobs and defer projects. (Sydney Morning Herald -- Business)

    Kobra: Deal in works to sell half of holdings by end of year  Nov 18, 2008
    Developer faces default on $140M credit line; sale could let work continue ... The heat on Alizadeh intensified late last month when , his largest lender, filed a notice of default over eight properties in Placer and Sacramento counties that were financed through a credit line totaling more than $143 million (see map, right). (Sacramento Business Journal, CA)

    As GM Goes, So Goes the GOP  Nov 18, 2008
    Seems to me if the government wants to 'bail' out the US auto industry, they could provide a credit line for operations and appoint a trustee to control and audit the uses for the money allocated. No loan money for retirees and union benefits. (Townhall.com)

    Techology for Tough Times  Nov 18, 2008
    If a customer wants you to increase their credit line which is fairly common and even more common in this kind of economy you want a little history on that customer, Woyzbun said. If you only have two customers altogether, maybe it s not so important. (SmallBusinessComputing)

    ABCPMMMFLF Spells Fed Relief for Citigroup, JPMorgan Off-the-Books Banking  Nov 18, 2008
    8 trillion of short-term debt from U.S. companies means they don't have to tap backup credit lines provided by banks, which would have forced , and other financial institutions to record the loans on their balance sheets and raise more capital ... Doing so minimized draws from the $16 billion of bank credit lines backing up the commercial paper, the filing said ... The credit lines are provided by 42 banks, including JPMorgan ($3 billion), BNP Paribas SA ($1. (Bloomberg)

    Banks Freezing Home Equity Loans  Nov 18, 2008
    WASHINGTON, DC (WUSA)--With the tight economy, many of us are leaning on revolving credit lines, such as home equity loans, for a little extra help to get us through. But here's a heads up: you may find your extra credit line frozen by the lender, or you could be asked to pay back all the debt at once ... Lenders are looking at their own risk and cuttinb back on authorized credit lines. (W-USA News, DC)

    Globe shows red ink; NYT faces cash crunch  Nov 17, 2008
    In a down economy plagued by frozen credit markets, a cash-strapped newspaper may find securing a large credit line to be a challenge. Times Chief Financial Officer James Follo said in an interview that the Times is negotiating with bankers to address its liquidity needs. (Boston Business Journal, MA)

    Fulton wasted HUD's money  Nov 17, 2008
    He said his firm s credit line is maxed out, he s laid off employees and lawyers for unpaid subcontractors are circling. I m not going down. (Atlanta Journal-Constitution)

    Brazil's middle-class dreams on hold  Nov 17, 2008
    7-billion U.S.) credit line to the auto industry, following the federal government's move to make the same amount available for credit through a state-run bank. The help came too late for Claudia Ferreira Ambrosia, who said she was one of several hundred people laid off by a group of dealerships for Peugeot and Ford cars in Rio this month. (Globe and Mail -- Business)

    Press Briefing by Senior Administration Officials on Summit on Financial Markets and the World Economy  Nov 16, 2008
    And in the case of the IMF, as I think we've said publicly before, they have a $200 billion credit line; they've drawn down on less than a fourth of it, but there's a recognition that we're in the middle of a situation where its resource needs may grow quite quickly ... SENIOR ADMINISTRATION OFFICIAL: No, I think what I said last week was consistent with what I just said, which is that they have a $200 billion credit line; they've drawn on less than a fourth of it, but in the midst of a crisis... (White House News Releases)

    Drought in lending chokes small businesses in Arizona  Nov 16, 2008
    Of respondents, 60 percent reported tightening the maximum size of credit lines for small firms ... Even with rock-solid financials, J-Curve spent nearly five months trying to obtain the credit line ... In many cases, personal credit is hurting owners' chances of qualifying for loans and business credit lines. (AZCentral -- Business)

    Credit is tight, but loans are out there  Nov 15, 2008
    The credit line could easily be refinanced into a longer-term loan before then, her banker had told her ... The financial condition of Quality Mobile X-Ray was key, but Styers said Moreland helped to ease her own way through the process by being proactive during the term of her initial credit line ... A credit line made more sense than a loan at first, Styers said, because of the structure of her payments on the business she was buying, but she didn t just take Southern Community s money and... (Business Journal of the Greater Triad Area)

    Dexia to Sell U.S. Bond Insurance Business to Assured Guaranty; Posts Loss  Nov 15, 2008
    The bank had already pledged a $5 billion credit line to FSA in June, after injecting $500 million into the unit in February. The lender said the financial crisis cost 2. (Bloomberg -- Europe)

    Is Harvest Energy the next Teck?  Nov 15, 2008
    6-billion credit line that comes due in 2010, $250-million (U.S.) of bonds that must be repaid in 2011 and $916-million (Canadian) of convertible debentures. With Harvest units changing hands at $12. (Globe and Mail)

    Media Sciences Reports First Quarter Financial Results  Nov 14, 2008
    Media Sciences International is the leading independent manufacturer of color workgroup printer supplies. (PRNewsFoto/Media Sciences International, Inc.) OAKLAND, NJ UNITED STATES. (PR Newswire)

    Lennar Corp. key credit line trimmed  Nov 14, 2008
    A key credit line for has been trimmed to $1 ... The credit line is known as Lennar's senior unsecured revolving credit facility. (South Florida Business Journal, FL)

    DirectCash Income Fund announces results of operations for the nine months ended September 30, 2008  Nov 13, 2008
    QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)

    WIRE: Failure of auto industry could set off catastrophe...  Nov 13, 2008
    Ford said it could last through 2009, but only because it arranged a hefty credit line last year. All this comes after tight credit and economic uncertainty in October reduced U.S. auto sales to their lowest level in 25 years -- with no rebound in sight. (The Drudge Report)

    Economy may face catastrophe if GM collapses  Nov 13, 2008
    Ford said it could last through 2009, but only because it arranged a hefty credit line last year. All this comes after October's tight credit and economic uncertainty reduced U.S. auto sales to their lowest level in 25 years, with no rebound in sight. (Pittsburgh Post-Gazette, PA)

    Store-branded cards help swipe chains' profits in sour economy  Nov 13, 2008
    Target is also responding to loan losses by changing terms, "aggressively" reducing credit lines and tightening underwriting, Scovanner said ... "You always run the risk that when you tighten the credit line, you could limit the purchase capability of the consumer," says Chris Theoharides, president of Advantage Consulting Group, which consults with retailers and card issuers. (USA Today -- Money)

    Best Buy Blues  Nov 13, 2008
    5 billion credit line was hit when Lehman Brothers - one of the key lenders for the facility - went bankrupt in September ... "Borrowings against it will be costly," Carol Levenson, an analyst at bond-research firm Gimme Credit, warned of the new credit line, which was arranged by JPMorgan Chase. (New York Post -- Business)

    * Eastern Europe needs support to survive  Nov 13, 2008
    The IMF provided an emergency credit line to support the currency, the World Bank coordinated the relief effort (much of it financed by the US and the EU), and the European Bank for Reconstruction and Development used its knowledge and resources to lead the effort to save the financial system. The Georgia package is not a done deal and circumstances elsewhere are different, but it shows that standard instruments can go a long way. (Taipei Times, Taiwan -- World Business)

    Stillwater losing money  Nov 12, 2008
    The company still has 129 million in cash reserves, but McAllister said there is no credit line to borrow against now. And negotiating affordable financing during these troubled economic times is unlikely, he said. (Montana Standard, MT)

    Details emerge in proposed Cobb EMC settlement  Nov 12, 2008
    Cobb EMC would also assume Cobb Energy s debt, including an $18 million credit line. Customers can comment on Dec. 2 in Cobb County Superior Court, but must tell the court and legal firms in writing. (Atlanta Journal-Constitution)

    The $700b bailout  Nov 11, 2008
    The government had hoped federal loans and a credit line worth $123 billion would save the massive insurer. The administration now says AIG, deemed too vital to the economy to be allowed to fail, needs $150 billion and more time to repay its debt. (Boston Globe)

    ...US to assume toxic mortgage assets  Nov 11, 2008
    It will also reduce a previously announced credit line to $60 billion from $85 billion, and lower interest rates on borrowings ... The $60 billion credit line will mature in five years, while the $85 billion line was set to mature in two years ... The Fed slashed the interest rate on the credit line by 5. (The Drudge Report)

    Tribune Posts Quarterly Loss, Revenue Falls  Nov 11, 2008
    Tribune paid $888 million in debt during the quarter, with $218 million of that money coming from another credit line. For the balance, it used money from the Newsday and Careerbuilder deals. (ABC News -- Wire)

    Rupee reacts downward by 12 paise  Nov 11, 2008
    Banks seek dollar credit line from RBI. 00000771. (Livemint)

    The next AIGs  Nov 11, 2008
    In October, $38 billion was added to AIG's credit line. This week, the Bush administration announced the federal government had purchased $40 billion in AIG stock and modified several of the provisions of the original bailout, including reductions in the credit line. (San Diego Union-Tribune -- Opinion)

    NutraCea loses $4.5M, gets $10M in credit  Nov 11, 2008
    NutraCea still bleeding red ink, secures $10M credit line - Phoenix Business Journal ... NutraCea still bleeding red ink, secures $10M credit line. (Phoenix Business Journal, AZ)

    Magna, American Axle, Lear Face `Serious Risks' on Auto Cuts, Lache Says  Nov 11, 2008
    The agreement cut the size of the company's revolving credit line to $476 ... The company said on Oct. 31 that it would renegotiate the credit line. (Bloomberg -- Canada)

    AIG bailout balloons to $222b  Nov 11, 2008
    8 billion credit line on Oct. 8 to shore up its securities-lending program and then another $US20 ... 8 billion credit line from the Fed will be shut down, AIG said ... The interest rate on the $US60 billion credit line will be reduced to the three-month London interbank offered rate plus 3%age points, from a previous spread of 8. (Sydney Morning Herald -- Business)

    GIANT LI WHOLESALER IS GETTING CRUNCHED  Nov 11, 2008
    The cutoff came despite efforts in recent months to renegotiate the credit line, sources said. "The reason [GE] gave us was the environment outside was so bad that they are trying to protect themselves," National Wholesale Liquidators 00004000 told its suppliers in a recent letter. (New York Post -- Business)

    Rebuilding of economy will take time PPC  Nov 11, 2008
    This would require a World Bank or International Monetary Fund credit line to underpin the currency, because the country had no foreign currency reserves. A new Zimbabwean currency linked to either the rand or the dollar would also have to be introduced, he said. (Business Report, South Africa)

    KKR Cuts Dividend, Might Become Bank  Nov 11, 2008
    The company does not expect to borrow against the $100 million standby credit line initially as it has sufficient liquidity to bridge the gap between its previous and new borrowing facilities, Fanlo said. He said the standby facility was an "insurance policy". (Newsmax)

    AIG, US May Expand Bailout to $150 Billion, Cut Interest Rate  Nov 10, 2008
    In addition to the $85 billion loan on Sept. 16, AIG got two more government credit lines totaling $58 ... 8 billion credit line that the Fed gave AIG last month to support this operation will be terminated, the person said. (Bloomberg)

    France not certain Big 3 can continue in NASCAR  Nov 10, 2008
    "Can we establish lines of credit? They're individual businesses, there's literally hundreds of them that could be affected depending on how far they'd go,'' France said. "We're not talking about 20-25 traditional sports teams where some halo credit line could be established for them. That's not practical. (MSNBC -- Sports)

    France uncertain Big 3 can continue in NASCAR  Nov 10, 2008
    "We're not talking about 20-25 traditional sports teams where some halo credit line could be established for them. That's not practical. "We understand team owners are in dire straits, but the entire country is in dire straits in one form or another. I wish we could have a safety net for everyone in our industry, but it's not practical. (SportsIllustrated.CNN -- Racing)

    NASCAR doesn't plan bailout  Nov 10, 2008
    "We're not talking about 20 to 25 teams where some halo credit line could be established for them."France said he and NASCAR president Mike Helton have met in recent months with top executives of all the auto manufacturers involved in the sport. "We are trying very carefully to understand what they're going through and how it relates back to team owners," France said. (News & Observer -- Sports)

    U.S. overhauls rescue of AIG  Nov 10, 2008
    The government created an $85 billion emergency credit line in September to keep AIG from toppling and added $38 billion more in early October when it became clear that the original amount was not enough. As part of the revised bailout, the Federal Reserve said it would now reduce that credit line to $60 billion ... AIG negotiated the original $85 billion revolving credit line with the Federal Reserve after its efforts to raise money from private lenders failed in the panic of mid-September. (International Herald Tribune -- Business)

    AIG may get billions more in bailout  Nov 10, 2008
    The Bush administration was overhauling its rescue of American International Group on Sunday, according to people involved in the transaction, amid signs that its initial credit line of more than $100 billion and the interest that came with it were putting too much strain on the ailing insurance giant. The Treasury Department and the Federal Reserve Board were near a deal to invest another $40 billion into the insurance giant, these people said. (International Herald Tribune)

    I Will Follow You  Nov 10, 2008
    This is a striking admission that the initial $85 billion emergency credit line, which has since grown to $143 billion, failed to stabilize the. The new deal would give AIG not only more money but more time to repay the loan at a lower interest rate. (Slate)

    US weighs buying AIG equity, insured bonds  Nov 10, 2008
    The initial credit line has a two-year term and an onerous interest rate, currently above 10. AIG also granted the government warrants for a nearly 80% stake. (The Star Online, Malaysia -- Business)

    Surviving - and thriving  Nov 9, 2008
    Carl Stjernfeldt of Castile Ventures in Waltham advises companies that can get loans to "line up debt now, even if you may not need it. It's like any other credit line, where it's good to have it ready to go, even if you don't need it.". Venture capitalists will have the upper hand. (Boston Globe)

    Election should ease consumers' 'uncertainty'  Nov 9, 2008
    And, in part through the sale of 27 percent of its stores, Lithia raised $100 million that went to reducing its credit line to $84 million. He expects Obama to make cuts, too, instead of relying exclusively on taxes. (OregonLive, OR -- Business)

    AIG in Talks to Rework Terms of Federal Bailout  Nov 8, 2008
    Options under discussion include lowering the interest rate or lengthening the credit line's two-year term, sources familiar with the discussions said, speaking on condition of anonymity because the negotiations are private ... To make payments on the $85 billion credit line, including charges he estimated at $22 billion over two years, AIG would be forced to sell pieces of itself at a fraction of their value, Greenberg said. (Washington Post)

    Battered builders cope  Nov 8, 2008
    It also acknowledged in its annual report that its debt load along with renegotiated terms of its credit line may hinder it from seizing on distressed opportunities. Some of our competitors may be in better position to take advantage of such favorable acquisition opportunities that should likely become available in the future, it said. (Philadelphia Business Journal, PA)

    Managing Your Credit Scores  Nov 8, 2008
    It takes at least 6 months of reporting a credit line s history before it is considered for scoring ... It s pushing credit lines to the limit that brings your score down ... Speaking of big and little ticket items, credit histories for big ticket installment loans affect your credit more than the little ticket revolving credit lines. (Suite101.com)

    AIG, U.S. in Talks to Restructure Loan: Source  Nov 8, 2008
    The initial credit line has a two-year term, carrying a steep interest rate. AIG also had to grant the government warrants for a nearly 80 percent stake in the company. (ABC News -- Wire)

    Neiman Marcus feeling the sting  Nov 8, 2008
    98 billion credit line. Neiman s operations include a specialty retail segment made up of Neiman Marcus and Bergdorf Goodman stores, and a direct marketing segment that conducts print catalog and online operations. (Dallas Business Journal, TX)

    Hokulia developer remains optimistic  Nov 8, 2008
    Anderson said he was not caught totally off-guard when the Bank of Scotland decided earlier this year to terminate its credit line with the Scottsdale, Ariz. -based Lyle Anderson Cos. (Pacific Business News, HI)

    US Weighs Options to Ease Strain on AIG  Nov 7, 2008
    The Problem: AIG is trying to sell assets to pay back a massive $85 billion credit line in a down market. Pressure Point: The loan carries a stiff interest rate, including 8. (Wall Street Journal)

    Celesio Plots Assault on German Pharmacies as EU Considers Opening Market  Nov 7, 2008
    Celesio, based in Stuttgart, has arranged a 600 million-euro ($763 million) credit line to buy more of the country's 21,500 pharmacies. The financing, set up before the global credit squeeze, is in ```no danger,'' said spokesman. (Bloomberg -- Germany)

    Sara Lee share buybacks back on  Nov 7, 2008
    8-billion credit line it has with 17 banks. Sara Lee spent $315 million buying back its shares in fiscal 2008. (Crain's Chicago Business)

    U.S. opposes global crisis regulator  Nov 7, 2008
    The White House, officials said, does not support proposals for a giant increase in financing for the International Monetary Fund, which is lending money to Iceland, Hungary and Ukraine and recently set up a credit line for countries with liquidity shortages. Noting that the IMF had $200 billion on hand to lend, another official said, "The IMF seems quite well-funded.". (International Herald Tribune -- Money Report)

    Sprint alters loan terms, cuts debt by $1B  Nov 7, 2008
    5 billion will remain available until it matures in 2010 and that the company can use as much as $3 billion of the credit line to secure letters of credit. The amended credit agreement includes. (Washington Business Journal, DC)

    Buyers With Great Credit Scores in Driver's Seat  Nov 6, 2008
    REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)

    U.S. won't back proposal for global crisis regulator  Nov 6, 2008
    The White House, officials said, does not support proposals for a giant increase in financing for the International Monetary Fund, which is lending money to Iceland, Hungary and Ukraine and recently set up a credit line for countries with liquidity shortages. Noting that the fund had $200 billion on hand to lend, another senior official said, "The IMF seems quite well-funded.". (International Herald Tribune -- Business)

    Victims of the crash: 7 dead brands  Nov 6, 2008
    Instead, the financier lined up by the investors, Wells Fargo, reduced the Domain's credit line twice in 2007. Frustrated by payment delays, Domain's overseas vendors started to curtail their shipments. (CNN -- Money)

    Obama's Change You Can Believe in Meets Reality  Nov 6, 2008
    For example, American International Group Inc., which received an $85 billion credit line from the Federal Reserve on Sept. 16 to keep it afloat and an additional $38 billion three weeks later, is burning through cash at an alarming pace. No Road Map. (Bloomberg -- Columnists)

    Angle Announces 2008 Third Quarter Results  Nov 5, 2008
    We exited the period with working capital deficiency of $10,680,000 ($10,863,000 excluding the unrealized derivative asset and related future tax liability) compared to available credit lines of $70,000,000. Our annual bank review was completed in June 2008 and our credit line was increased by $20,000,000 from the previous credit line of $50,000,000. (CCNMatthews Press Releases)

    Brazilian Banks Propose Merger  Nov 4, 2008
    5 billion credit line from the government's stabilization fund. The government will also guarantee up to $19. (Washington Post)

    Remember 2004? It ain't over.  Nov 4, 2008
    9B in additional Fed credit line Friday October 31, 6:07 pm ET By Ieva M. Augstums, AP Business Writer. In total, the government has put about $144 billion at AIGs disposal. (Atlanta Journal-Constitution -- Opinion)

    Another View: Intervention  Nov 4, 2008
    Offering a bigger credit line to Fannie Mae and Freddie Mac in July didn't avert a complete government takeover in September. And so it has gone, on down the list of interventions. (Hanford Sentinal, CA)

    Need to know: Diageo's 25m campaign ... GMAC sale ... Centrica gains  Nov 4, 2008
    2 billion credit line from the Government s stabili-sation fund. The deal, called a silent participation , does not give the State a stake in the bank. (Times Online)

    Treasurys edge up after manufacturing contraction  Nov 4, 2008
    Of those affected, almost 45 percent said they saw a decrease in the availability of credit; nearly 41 percent saw an increase in the cost of credit; nearly 25 percent experienced difficulty in initiating or renewing a bank credit line; and nearly 79 percent reduced spending or hiring. Circuit City Stores Inc. said Monday it is closing about 20 percent of its U.S. stores and laying off about 17 percent of its domestic work force. (San Diego Union-Tribune -- Business)

    Britain prods oil producers to aid IMF  Nov 3, 2008
    In Lisbon, the authorities said they were setting up a credit line for Portugal's banks and were moving to nationalize one of the smaller lenders in the country, Banco Portugues de Negocios. In Russia, officials announced new measures to halt capital flight. (Boston Globe)

    Credit crunch trickle-down effect  Nov 3, 2008
    New Suzuki dealership closes due to inability to expand $10M credit line ... Richard Arledge closed down his Denton Suzuki dealership earlier this month because he couldn t expand his credit line ... Arledge, a longtime used car lot owner, provided financing for those customers via a $10 million credit line he had arranged with a hedge fund. (Dallas Business Journal, TX)

    Leaders tackle economic brush fires around the globe  Nov 3, 2008
    In Lisbon, the authorities said they were setting up a credit line of 4 billion for Portugal's banks, and were moving to nationalize one of the smaller lenders in the country, Banco Portugu. s de Neg. (International Herald Tribune -- Business)

    To The Point  Nov 3, 2008
    2 bil credit line with JPMorgan. Dillard's () was responding to attacks by activist investors who derided its management and weak performance. (Investors Business Daily)

    Portugal says it will nationalize troubled bank  Nov 3, 2008
    "The government has taken this decision, above all, to ensure that account-holder savings are safe,'' Teixeira dos Santos told a news conference Sunday. BPN, which posted profits of euro56.7 million euros last year, made no immediate comment. No other Portuguese bank has reported problems stemming from the financial crisis. Teixeira dos Santos said two administrators from the central bank would oversee BPN's activities from Monday. At a later stage, BPN will be placed under the management of... (The Star Online, Malaysia -- Business)

    Malaysia's measures to restore confidence  Nov 3, 2008
    They said the Government should ensure the countrys banking system remains strong; and funding and credit lines remained open to small businesses and manufacturers ... We need to ensure that the local financial system will continue to provide credit line and lending activities, he said. (The Star Online, Malaysia -- Business)

    Referendum chatter  Nov 1, 2008
    If we dont tap this source of financing now, the district loses the credit line and our chance to build for the future will be lost. Please join me in voting YES on both Referendum Questions on Nov. 4. (Forest Republican, WI)

    Carnival Cruising For A Brui$ing  Nov 1, 2008
    Had the company not suspended the 1 billion dividend, Carnival would have had to tap an emergency credit line, which would have wrecked its balance sheet and hiked interest costs. Carnival said it expects 2009 profit will drop about 11 percent, to between 2. (New York Post -- Business)

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