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ID: 27475
Title: Yahoo! News: Business Yahoo! News New Century stops taking loan applications (Reuters)
Description: Business

Activist hedge fund manager David Einhorn speaks at the Reuters Investment Outlook summit in New York, December 11, 2006. Einhorn quit New Century Financial Corp.'s board late Wednesday, two days after the subprime lender's stock fell 69 percent following disclosure of a federal criminal probe. (Keith Bedford/Reuters)Reuters - New Century Financial Corp., whose shares fell 25 percent on Thursday amid speculation it would seek bankruptcy protection, said it has received $265 million in financing, but stopped accepting loan applications after some lenders blocked its credit lines.


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Date Added: March 09, 2007 01:37:21 AM
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