Jarvis slumps as debt deadline nears
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Shares in Jarvis have plunged by more than 20 per cent after the support services contractor warned that it may yet fall victim to its Â£230 million debt burden.
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U.S. mortgage applications sank last  week to the lowest level since the end of last year despite  falling borrowing costs, an industry trade group said on  Thursday.
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New fallout from the U.S. housing slump hit mortgage and real estate companies on Tuesday as subprime lender NovaStar Financial Inc  and title insurer First American Corp  announced job cuts and NovaStar's auditor expressed doubt the company will survive.
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The cutoff of interest payments, which is expected to accelerate, would be the latest blow to the markets as investors try to anticipate the next problem that might shake confidence.
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Jarvis, the troubled rail and road services company, claims it has &quot;drawn a line in the sand&quot; after posting record half-year, pre-tax losses of Â£283m - worse than the most pessimistic City forecast.
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LONDON, December 27  - Engineering and construction group Jarvis (JRVS.ISE) is likely to ward off a financial collapse with the sale of its one third stake in Tube Lines Holdings, Londonâs underground rail network, for Â£146.8 million
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The subprime mess has hurt all financial stocks, even ones with small exposure to those loans. Time to buy.
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Merger challenges and dropped calls for consumers are taking a toll as Sprint aims to expand and upgrade.
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U.S. mortgage applications sank last week to the lowest level since the end of last year despite falling borrowing costs, an industry trade group said on Thursday.
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Fallout from a crisis in the U.S. subprime mortgage market rattled the auto sector on Tuesday after the debt package for a General Motors asset sale was postponed and borrowing costs on automakers' debt surged.
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Jarvis is on the verge of avoiding financial collapse after it agreed to sell its one-third stake in Tube Lines to Amey for Â£146.8m and negotiated a one-year proposed extension to its banking facilities.
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New Century Financial Corp. , the largest independent U.S. subprime mortgage lender, said on Monday its lenders plan to halt financing, pushing the company closer to bankruptcy amid dwindling cash and $8.4 billion in obligations that could come due immediately.
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California faces a double-digit  fall in housing prices over the next year and a half, a major  builder, a lender and the state treasurer said on Monday in a  discussion of how long the subprime mortgage crisis would drag  on the Golden State.
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California faces a double-digit fall in housing prices over the next year and a half, a major builder, a lender and the state treasurer said on Monday in a discussion of how long the subprime mortgage crisis would drag on the Golden State.
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The financial crisis continues as the lender's shares plummet by a third in Monday morning trading
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Business & money: Â· Data shows Britain in line for prolonged slowdownÂ· Balance of payments runs to shortfall of Â£20bn
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JARVIS, the floundering engineering services group, saw its shares surge more than 100 per cent yesterday after opening the door to a potential &quot;white knight&quot; investor or takeover bidder.