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  • ( ) BofA to pay $4.1B to buy Countrywide

    CHARLOTTE, N.C. (AP) - Bank of America (News) said Friday it will buy Countrywide Financial for $4.1 billion in stock, a deal that rescues the country's biggest mortgage lender and expands the financial services empire of the nation's largest consumer bank.

    The acquisition will make Charlotte-based Bank of America Corp. the nation's biggest mortgage lender and loan servicer.

    Bank of America said it initially plans to operate Countrywide separately under the Countrywide brand, with integration occurring no sooner than 2009.

    The transaction represented a 7.5 percent discount to where Countrywide shares ended Thursday after they soared on news that a rescue plan was in the works. It also effectively leaves Bank of America with a big loss on its $2 billion August investment in Countrywide Financial Corp. More>>

  • ( ) Wise move for Bassett at Leeds

    Bassett, who has worked with Wise at Wimbledon, Leicester and Southampton, has signed a fixed-term contract until the end of the season.

    He replaces Poyet, who joined Tottenham as assistant manager to new boss Juande Ramos at White Hart Lane.

    . More>>

  • ( ) Tesco storm — ‘Let’s stick together!’

    Paul Smith, chief executive of Spicerhaart, with more than 200 offices across the country, said in his regular EAN column: "We estate agents need to stick together and prove that we are worth every penny that people pay.

    "Tesco might think that ‘‘Every little helps’ — but it won’t be at my expense."

    Tesco, by far the biggest retailer in the UK, have long offered advice on mortgages, savings and loans as well as credit cards, and have been linked with a move into estate agency previously.

    Asda, one of their major supermarket rivals, already display homes for sale from a number of their branches.

    But the Tesco Property Market site caused a storm within the estate agency industry from day one, as leading portals Rightmove, Primelocation and Propertyfinder were among those quick to disassociate themselves from the venture and deny Tesco access to any of their members’ properties. More>>

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