Citigroup acquires ABN Amro's U.S. mortgage unit - 2007-01-23
Citigroup Inc., the biggest U.S. bank, agreed to purchase ABN Amro Holding NV's U.S. wholesale mortgage arm for an undisclosed amount to solidify its position as the No. 3 mortgage lender. The purchase of ABN Amro Mortgage Group, which has $9 billion of assets, will add about 1.5 million customers and 2,500 brokers, Citigroup declared in a statement.
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Housing, Auto Slowdowns Sting DuPont - 2007-01-23
DuPont Co. CEO Charles Holliday declared Tuesday that demand from the housing and automotive markets in the first half of 2007 is expected to be lower from a year ago. The chemical company also mentioned in announcing fourth-quarter earnings during a conference call that headwinds from the housing and auto industries were better than expected in the fourth quarter, but was partly offset by strength outside the U.S., especially in the agriculture segment.
Read the full story at Smartmoney.com