Finance News Archive

29-Sep-2005

• 'DeLay Indicted in Finance Probe (Los Angeles Times via Yahoo! News)
HOUSTON ? Rep. Tom DeLay, one of the country's most powerful Republicans, was indicted Wednesday by a Texas grand jury on a charge of violating state campaign Finance laws. The action forced him to step aside as House majority leader, deepening the GOP's political woes.
• 'Bayou Group Founder Israel, Finance Chief Marino Plead Guilty (Bloomberg.com)
U.S. Sept. 29 (Bloomberg) -- Bayou Group founder Samuel Israel III and Finance chief Daniel Marino pleaded guilty to using fake results and a phony auditing firm to lure investors to the $450 million hedge fund, which collapsed this summer.
• 'HSBC upbeat on U.S. consumer finance prospects (Reuters via Yahoo! Asia News)
LONDON, Sept 29 (Reuters) - Global bank HSBC said on Thursday U.S. credit conditions remain benign despite the impact of high oil prices, and predicted medium-term annual growth of around 10 percent for its U.S. consumer finance unit.
• 'Bayou Finance Chief Marino Pleads Guilty to Fraud (Update3) (Bloomberg.com)
U.S. Sept. 29 (Bloomberg) -- Daniel Marino, finance chief of Bayou Group, pleaded guilty to conspiring to use fake results and a phony auditing firm to lure and keep investors of the $450 million hedge fund, which collapsed this summer.
• 'Australia to help Iraq finance wheat (Sydney Morning Herald)
Iraq will soon receive a $US300 million ($A395 million) guarantee to finance future imports of Australian wheat, says Iraqi Trade Bank head Hussein al-Uzri.
• 'Bush ally quits as Congress leader over finance indictment (AFP via Yahoo! News)
Tom DeLay, a powerful political ally of President George W. Bush, stepped down as head of the Republican majority in the House of Representatives after being indicted on a campaign Finance charge.