Monday, March 21, 2011

Quick Overview

  • The National Association of Realtors reported this morning that existing U.S. home sales fell 9.6% last month and prices dropped to the lowest level in nine years.

  • Citigroup announced a 1-for-10 reverse stock split and says it plans to pay a penny-a-share dividend.

  • The US Treasury Department is to begin selling off toxic assets worth an estimated $142bn, in an effort to close another chapter of the financial crisis.

  • The average British household has seen its real-terms income fall by 1.6% in the worst three-year squeeze since the early 1980s, research suggested today.

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