The familiar and sad story of the subprime mortgage business weighed down the stock market Thursday after HSBC Holdings (HBC) reported that it miscalculated the risk of its subprime lending program. But the subprime mortgage market’s woes are not new, and the spillover from bad loans into consumer spending has been and is expected to be small. Indeed, Thursday’s reports of strong January retail sales were the perfect foil for the bears’ hackneyed argument that the subprime mortgage...
Pc faces probe over blue badge
February 9, 2007 on 1:35 pm | In |
A POLICE officer is under investigation after being accused of illegally using a disabled badge to park for free outside his city centre station.
Pc Andrew Higgins is said to have used the blue badge to park outside Gayfield Square police station while he completed his shifts.
Police chiefs today confirmed they had launched an investigation into the uniformed constable’s alleged misconduct.
Pc Higgins faces being hit with fraud charges in a criminal court if the internal inquiry finds he was breaking the law.
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Nasdaq Breaks Out of Slump »Updated from 12:54 p.m. EST Energy prices moved up Friday as snow hit the Northeast and forecasts indicated continuing cold weather for the weekend, suggesting demand will be higher for gas heat. Prices for February-dated crude oil futures closed up $1.51 at $51.99 a barrel on the New York Mercantile Exchange. The February contract terminates Monday and so spot market activity now switches to the March contract, which closed at $53.40, up $1.59. Other energy products were also up....