| Blue Chip News: BWR Begins Tracking SunTrust Banks Inc.
Coca-Cola, fast cars, and SunTrust Banks -- this Sun Belt financial holding company is southern to its core. Its eponymous flagship subsidiary SunTrust Bank operates approximately 1,600 bank branches across an arc of southeastern states, including Alabama, the Carolinas, Florida, Georgia, Maryland, Tennessee, and Virginia, plus Washington, DC. The bank's offerings include retail and commercial banking, as well as trust services, credit cards, mortgage banking, mutual funds, insurance, lease financing, asset management, and securities underwriting and dealing. Shares were down 2% announcing plans to release first quarter results. BellwetherReport.com is a leading online research firm for international investors looking to get an edge over their portfolio. Investors seeking the most up to date information on SunTrust Banks Inc.
New Century, Biggest Subprime Casualty, Goes Bankrupt (Update4)
April 2 (Bloomberg) -- New Century Financial Corp., overwhelmed by rising defaults from borrowers with poor credit records, became the largest subprime mortgage lender ever to fail as it filed for bankruptcy today. New Century plans to sell most of its assets within 45 days, said the Chapter 11 filing in federal court in Wilmington, Delaware. About 3,200 people, more than half the workforce at the Irvine, California-based company, will be fired. New Century said it already agreed to sell its mortgage billing and collections unit to Carrington Capital Management LLC for $139 million. The company rode the U.S. housing boom to become the largest independent mortgage lender to subprime borrowers, only to collapse as interest rates rose and home prices fell. New Century's market value soared to more than $3.5 billion in December 2004, and last year it made about $60 billion in loans.
The future's bright, the future's green
Say electric vehicle and many people think milk float - unless, that is, they have taken a look at the latest cars and bikes on display at the Green Wheels event in Norwich.A selection of vehicles, including biofuel and hybrid, are on display until the end of tomorrow at the Forum, alongside the spectacular Earth from the Air exhibition.The event began yesterday, the day that transport secretary Douglas Alexander said Britain must look at ways to ensure that by 2030, UK cars emitting zero, or very little, carbon are commonplace.On show yesterday for the first time in the UK, and for one day only, was the electric powered Tesla Roadster - a sports car that can go from 0-60mph in four seconds, with a top speed of more than 130mph.Brian Randall, Tesla's test and validation manager, said: "The company is based in California.
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