Debt Consolidation News Sep 2008
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Vivendi reports good operating performance for second quarter 2008
PARIS----Regulatory News: 2008 Second Quarter Revenues: €5.988 billion, an increase of 15.1% and of 17.4% at constant currency when compared to the second quarter 2007. 2008 Second Quarter Adjusted earnings before interest and income taxes : €1.364 billion, an increase of 3.2% and of 4.2% at constant currency when compared to the second quarter 2007. 2008 Second Quarter Adjusted earnings before ... (Mon, 01 Sep 2008 06:31:00 GMT)
Commerzbank to Buy Dresdner Bank for EU9.8 Billion (Update1)
Sept. 1 (Bloomberg) -- Commerzbank AG agreed to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in Europe's biggest financial-services takeover this year, leapfrogging Deutsche Bank AG by customers and branches. (Mon, 01 Sep 2008 07:38:41 GMT)
Commerzbank to Buy Dresdner Bank for EU9.8 Billion (Update1)
Sept. 1 (Bloomberg) -- Commerzbank AG agreed to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in Europe's biggest financial-services takeover this year, leapfrogging Deutsche Bank AG by customers and branches. (Mon, 01 Sep 2008 07:44:34 GMT)
Ask why you need a loan
Consumers who don't really need the money have no trouble getting loans, says money expert Chris Farrell. (Mon, 01 Sep 2008 10:00:00 GMT)
Commerzbank to Buy Dresdner Bank for EU9.8 Billion (Update3)
Sept. 1 (Bloomberg) -- Commerzbank AG agreed to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in the biggest financial-services takeover in Europe this year, leapfrogging Deutsche Bank AG by customers and branches. (Mon, 01 Sep 2008 11:08:36 GMT)
Commerzbank to Buy Dresdner Bank for EU9.8 Billion (Update3)
Sept. 1 (Bloomberg) -- Commerzbank AG agreed to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in the biggest financial-services takeover in Europe this year, leapfrogging Deutsche Bank AG by customers and branches. (Mon, 01 Sep 2008 11:14:34 GMT)
Commerzbank Drops Most in Almost 6 Years After Buying Dresdner
Sept. 1 (Bloomberg) -- Commerzbank AG dropped the most in almost six years in Frankfurt trading after agreeing to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in the biggest financial-services takeover in Europe this year. (Mon, 01 Sep 2008 13:59:34 GMT)
Rwanda: South Africa's Blue Financial Enters Country, Eyes Eight Towns
South Africa-based Blue Financial Services has opened a subsidiary in Rwanda, promising to offer competitive loan packages to the country's growing private sector. (Mon, 01 Sep 2008 16:18:04 GMT)
Commerzbank to buy Dresdner for $14.4bn...
Commerzbank AG agreed to buy Allianz SE’s Dresdner Bank for ¤9.8 billion ($14.4 billion) in the biggest financial-services takeover in Europe this year, leapfrogging Deutsche Bank AG by customers and branches. (Mon, 01 Sep 2008 18:48:01 GMT)
Strategic's buyers play down positives
While they are paying a fraction of what they sold the business for little more than a year ago, Strategic Finance's management and former owners are hardly making a killing on their repurchase of the company, chief executive Kerry Finnigan says. (Mon, 01 Sep 2008 21:44:16 GMT)
Commerzbank Drops Most Since 2002 After Dresdner Deal (Update1)
Sept. 1 (Bloomberg) -- Commerzbank AG dropped the most in almost six years in Frankfurt trading after agreeing to buy Allianz SE's Dresdner Bank for 9.8 billion euros ($14.4 billion) in the biggest financial-services takeover in Europe this year. (Tue, 02 Sep 2008 04:21:07 GMT)
RP allots P681.5 B for debt service next year
The government has programmed to spend P681.516 billion for debt service payments in 2009, 7.1 percent higher than this year's allotment of P636.075 billion, the Bureau of the Treasury (BTr) reported yesterday. (Tue, 02 Sep 2008 16:05:27 GMT)
Argentina will pay US$6 billion Paris Club debt
Argentina will pay its entire US$6.7 billion debt to the Paris Club of lending nations, President Cristina Fernandez said Tuesday, shoring up sagging investor confidence and opening the door to needed new capital as its economy slows. (Wed, 03 Sep 2008 00:49:16 GMT)
Argentina will pay US$6 billion Paris Club debt
Argentina will pay its entire US$6.7 billion debt to the Paris Club of lending nations, President Cristina Fernandez said Tuesday, shoring up sagging investor confidence and opening the door to needed new capital as its economy slows. The payment, which will tap about a sixth of the country's US$47.1 billion in foreign currency reserves, "confirms one more time Argentina's willingness to meet ... (Wed, 03 Sep 2008 01:10:43 GMT)
Argentina to pay $6B Paris Club debt
BUENOS AIRES, Argentina (AP) -- Argentina will pay its entire $6.7 billion debt to the Paris Club of lending nations, President Cristina Fernandez said, shoring up sagging investor confidence and opening the door to needed new capital as its economy slows. (Wed, 03 Sep 2008 01:11:14 GMT)
Argentina will pay US$6 billion Paris Club debt
Tue, Sep 2, 2008 (6:06 p.m.) Argentina will pay its entire US$6.7 billion debt to the Paris Club of lending nations, President Cristina Fernandez said Tuesday, shoring up sagging investor confidence and opening the door to needed new capital as its economy slows. (Wed, 03 Sep 2008 01:32:28 GMT)
Argentina will pay US$6B Paris Club debt
Argentina will pay its entire US$6.7 billion debt to the Paris Club of lending nations. (Wed, 03 Sep 2008 01:54:56 GMT)
Argentina will pay its entire Paris Club debt
Argentina will pay its entire $6.7 billion debt to the Paris Club of lending nations, President Cristina Fernández said Tuesday, shoring up sagging investor confidence and opening the door to needed new capital as its economy slows. (Wed, 03 Sep 2008 12:55:03 GMT)
Energroup Holdings Corporation ('Chuming') Reports Second Quarter 2008 Financial Results
Energroup Holdings Corporation , through its direct and indirect subsidiaries known as "Chuming," a premier processor and supplier of fresh and prepared pork products in Dalian, China, reported the Company's financial results for the second quarter ended June 30, 2008. (Wed, 03 Sep 2008 13:00:00 GMT)
Pearlstein: Federal Loans for the Auto Industry?
Washington Post columnist Steven Pearlstein was online Wednesday, Sept. 3 at 11 a.m. ET to discuss whether federal loans to help the auto companies retool themselves to build more fuel efficient cars are a good idea - or is this just another form of a bailout? (Wed, 03 Sep 2008 16:47:51 GMT)
Congressman's office offers solutions to 'Best in Class' participants
We first broke the story about thousands here in Kentucky suffering from unpaid student loans in late August. Since then our Troubleshooter Charla Young has been digging for new developments hoping to find relief for the thousands affected by federal cuts. (Thu, 04 Sep 2008 00:39:57 GMT)
Moody's downgrades Fortis Bank's BFSR and affirms debt ratings
Fortis Bank Nederland (Holding)'s and Fortis Bank Luxembourg's BFSR are also downgraded and debt ratings affirmed Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of (Thu, 04 Sep 2008 02:33:04 GMT)
New York Plans to Sue Student Loan Company
The attorney general is preparing a lawsuit against Goal Financial, charging that the lender broke laws by luring borrowers with cash and gifts and that it misled consumers about loan terms. (Fri, 05 Sep 2008 00:05:41 GMT)
No joke: Bank stocks are rallying
Don't look now, but bank stocks are in the midst of a big rally. (Fri, 05 Sep 2008 18:38:07 GMT)
Loans come in many flavors. Know the difference so you don't get rocky road when all you want is vanilla.
Cash-strapped consumers in the market for big-ticket items often turn to loans. But if you're already in debt, don't rush into anything. (Sat, 06 Sep 2008 10:51:39 GMT)
Kofax plc Preliminary Results 2008 - 12 months to 30 June 2008
BASINGSTOKE, England----Kofax plc , the leading provider of Intelligent Capture & Exchange solutions, today announces audited Preliminary Results for the 12 months ended 30 June 2008. (Mon, 08 Sep 2008 06:00:00 GMT)
Kenneth Rogoff: When will the global economic crisis end?
Kenneth Rogoff: The idea that the world's largest economies are merely facing a short-term panic looks increasingly strained (Mon, 08 Sep 2008 07:17:58 GMT)
Social lending picks up for other sources
Person-to-person lending is getting more attention as other sources of small loans dry up. Borrowers are looking for angels willing to make small business and personal loans. (Mon, 08 Sep 2008 07:50:25 GMT)
Comparing loan products for big-ticket items
Bankrate explores the pros and cons of popular loan products to help take the guesswork out of borrowing money. (Mon, 08 Sep 2008 10:00:00 GMT)
Nigeria: Centrality of Privatisation
Privatization, according to experts, is an economic policy that seeks to place the commanding heights of business activities in the hands of private entrepreneurs as against the hitherto dominance of the public sector, that is, the government and its parastatals. (Mon, 08 Sep 2008 11:20:00 GMT)
AP Financial NewsBrief at 4:20 p.m. EDT
NEW YORK (AP) _ Wall Street is closing higher as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The announcement that the Treasury Department was seizing control of the companies, which own or back about half the nation's mortgage debt, brushed aside ... (Mon, 08 Sep 2008 20:39:36 GMT)
Business Highlights
Mortgage rates fell sharply Monday, as investors reacted to the government's takeover of Fannie Mae and Freddie Mac. The government's takeover of Fannie Mae and Freddie Mac -- mortgage titans that own or guarantee about half of all U.S. mortgages -- will help borrowers who had been nervously waiting for the best time to get out of the adjustable-rate mortgages they took out during the housing ... (Mon, 08 Sep 2008 23:24:18 GMT)
Rwanda: Blue Opens Country Branch
In line with its vision to become a pan-African micro financier, Blue Financial Services has announced that it will be opening its first Rwandan branch in Kigali on September 26. (Tue, 09 Sep 2008 09:18:14 GMT)
AP Financial NewsBrief at 7:00 a.m. EDT
DUBAI, United Arab Emirates (AP) _ Oil prices sank Tuesday as Hurricane Ike appeared less like to strike Gulf of Mexico energy installations and Saudi Arabia suggested OPEC will not cut output later in the day. (Tue, 09 Sep 2008 11:06:22 GMT)
AP Financial NewsBrief at 6:59 a.m. EDT
SINGAPORE (AP) _ Oil prices fell below $106 a barrel Tuesday in Asia on expectations a weakening Hurricane Ike may not disrupt Gulf of Mexico drilling and refining operations. (Tue, 09 Sep 2008 11:07:33 GMT)
AP Financial NewsBrief at 6:57 a.m. EDT
WASHINGTON (AP) _ Treasury Secretary Henry Paulson said Congress should view the next few months as a "time out" in the highly charged debate over what to do with mortgage giants Fannie Mae and Freddie Mac. But lawmakers already are sketching plans for what the two troubled government-sponsored companies should look like in the future _ from taking them private, to nationalizing them or turning ... (Tue, 09 Sep 2008 11:08:23 GMT)
Prosper Releases Market Survey Results for August 2008
SAN FRANCISCO----Prosper, America's largest people-to-people lending marketplace, today released results for August 2008. Prosper CEO and Co-Founder, Chris Larsen, discusses the impact of the pervasive credit crunch on the Prosper marketplace. (Tue, 09 Sep 2008 14:00:00 GMT)
Govt not inclined to tap foreign debt mart
The Philippines may no longer tap the international capital market for additional funds and will also reduce its domestic borrowings in the last quarter of the year due to the government’s strong cash position. (Wed, 10 Sep 2008 04:09:49 GMT)
Lehman Brothers Announces Preliminary Third Quarter Results and Strategic Restructuring
Lehman Brothers Holdings Inc. , the global investment bank, announced today, in conjunction with its preliminary third quarter results, a comprehensive plan of initiatives to reduce dramatically the Firm's commercial real estate and residential mortgage exposure, generate additional capital through the sale of a majority stake of the Investment Management Division and reduce the annual ... (Wed, 10 Sep 2008 11:45:00 GMT)
EDebitPay, LLC Listed at Number 27 of the Top 100 Businesses in the Los Angeles Region its First Year on the Inc. 5000
SHERMAN OAKS, Calif.----EDebitPay is awarded the number 27 spot in this year’s Inc. 5000 Top 100 Businesses in the Los Angeles region, based on its achievements and growth. The company was also listed number 28 in the Top 100 Financial Service Marketing Companies, nationally. (Wed, 10 Sep 2008 12:00:00 GMT)
Viterra's Year-To-Date Earnings More Than Double
REGINA, SASKATCHEWAN-- - A strong global agriculture sector and robust commodity prices drove record high agri-product sales for Viterra in the three months ended July 31, 2008. Increased demand throughout the Company's expanded network and enhanced elevator efficiencies also drove third quarter net earnings to $166.7 million , up from $98.5 million for the same period in 2007. (Wed, 10 Sep 2008 14:39:58 GMT)
VAB Bank CEO: higher interest rates on loans hit growth
Meet Peter Baron, the chief executive officer of VAB Bank, one of Ukraine’s larger banking groups. (Wed, 10 Sep 2008 20:11:49 GMT)
Online Media Group expands into Europe
UK owned network launches in Poland, Germany, France and Spain. Internet marketing company Online Media Group (OMG) has become the first privately owned UK affiliate network to launch in mainland Europe with the opening of a new office in Poland and the launch of a series of significant new campaigns... (Thu, 11 Sep 2008 19:34:19 GMT)
Debate shifts to systemic solution
Almost a week after the US Treasury rescued Fannie Mae and Freddie Mac, investors seem far from convinced that the problems facing the US financial system are over. (Thu, 11 Sep 2008 21:35:33 GMT)
A mixed session at the local market
During the last session of the week, the Malta Stock Exchange edged forward by 0.54% to close at 3990.23 points. Leading banking stocks advanced, whereas the shares of FIMBank p.l.c. and GO p.l.c. finished marginally lower. (Fri, 12 Sep 2008 18:12:13 GMT)
Choking On Credit Card Debt
It's easy to get and hard to shake but with some discipline you can dig yourself out of credit card debt. (Fri, 12 Sep 2008 21:38:22 GMT)
State loan agency MOHELA suffers first operating loss
For the first time in its nearly 30-year history, the Missouri Higher Education Loan Authority (MOHELA) has suffered an annual operating loss. (Fri, 12 Sep 2008 22:21:21 GMT)
John F. Wasik: McCain, Obama need to talk about "D" word
Imagine if campaigning U.S. politicians talked about the huge debts facing Americans and their institutions, instead of offering the usual platitudes about national unity and security. (Sun, 14 Sep 2008 08:29:41 GMT)
(AFX UK Focus) 2008-09-14 23:37 PRESS DIGEST-Australian Business News - Sept 15
SYDNEY, Sept 15 (Reuters) - Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy. (Sun, 14 Sep 2008 22:48:17 GMT)
US dollar drops, gold climbs on financial tumult
HONG KONG -- The US dollar tumbled and Treasury debt and gold prices jumped on Monday after talks to sell Lehman Brothers faltered, leading to grave uncertainties about other banks and shaken confidence in the financial system. (Mon, 15 Sep 2008 02:39:31 GMT)
Fed Takes Measures To Aid Financial Markets
(RTTNews) - The U.S. Federal Reserve took steps to provide support for embattled financial companies on late Sunday evening, expanding lending programs in an effort to provide stability to a market that is rattled by consolidation and pending bankruptcy. (Mon, 15 Sep 2008 02:57:58 GMT)
(UPDATE) Financial havoc hammers US dollar, boosts gold
HONG KONG -- Stocks and the US dollar tumbled Monday as Lehman Brothers was expected to file for bankruptcy, leading to grave uncertainties about other banks and shaken confidence in the financial system, and sending safe-haven Treasury debt and gold prices soaring. (Mon, 15 Sep 2008 04:54:17 GMT)
Wilbur Ross has $300 mn to spend in India
He now owns textile and auto parts plants worldwide (Mon, 15 Sep 2008 05:59:09 GMT)
U.S. bank crisis deepens. Dollar falls. Gold rises.
With confidence taking a major knock with the Lehman Brothers fallout and other banking uncertainties, the dollar dropped and gold started to pick up again, this time without the help of a rising oil price which weakened on less pessimistic damage reports from hurricane Ike. (Mon, 15 Sep 2008 07:49:18 GMT)
Choking On Credit Card Debt
It's easy to get and hard to shake but with some discipline you can dig yourself out of credit card debt. (Mon, 15 Sep 2008 10:09:49 GMT)
Pearlstein: Wall Street Turmoil
Washington Post columnist Steven Pearlstein was online today at 12 p.m. ET to discuss the massive shifts on Wall Street today. (Mon, 15 Sep 2008 22:05:03 GMT)
Stocks continue slide as investors await Fed decision
U.S. (Tue, 16 Sep 2008 05:19:31 GMT)
Experts see rough road ahead for Wall Street
The debacles involving Lehman Brothers and Merrill Lynch have many wondering if the economic barometer can reinvent itself yet again. (Tue, 16 Sep 2008 09:13:02 GMT)
Wall Street in crisis
The old Wall Street is giving way to a new one. As the tectonic shifts within the American financial industry shook the world's markets yesterday, many experts predicted that events of the past 72 hours heralded a new period of painful change for Wall Street. (Tue, 16 Sep 2008 10:10:21 GMT)
Meltdown on Wall Street
Wall Street was shaken Monday by the demise of a venerable investment firm whose bankruptcy threatened to reverberate throughout New Jersey — and helped stoke the steepest one-day point drop in the Dow since the day the market reopened after the Sept. 11, 2001, attacks. (Tue, 16 Sep 2008 10:53:30 GMT)
Change Arrives, With a Sense That Wall St.’s Boom Times Are Over
The old Wall Street is giving way to a new one. As the tectonic shifts within the American financial industry shook the world’s markets on Monday, many experts predicted that events of the last 72 hours heralded a new period of painful change for Wall Street. (Tue, 16 Sep 2008 11:55:03 GMT)
Lehman, Liquidity, and You
How Wall Street's failures threaten the rest of us (Tue, 16 Sep 2008 17:51:36 GMT)
Top Scoops
I am prepared. I am prepared. I need no on-the-job training. I wasn't a mayor for a short period of time. I wasn't a governor for a short period of time. (Wed, 17 Sep 2008 01:59:27 GMT)
(AFX UK Focus) 2008-09-17 07:08 HK stocks lower on financial jitters, telecoms up
HONG KONG, Sept 17 (Reuters) - Hong Kong shares reversed early gains and fell through key support of 18,000 points on Wednesday as a U.S. government rescue of troubled insurer American International Group failed to soothe jittery investors. (Wed, 17 Sep 2008 06:18:27 GMT)
Exec says ‘golden era’ is over: Change arrives with a sense that Wall Street’s boom times are over
A man is surrounded by photographers after leaving the Lehman Brothers headquarters carrying a box Monday, Sept. 15, 2008, in New York. Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors on Monday and said it was trying to sell off key business units. (Wed, 17 Sep 2008 06:30:26 GMT)
Sistema Announces Unaudited Financial Results For The Second Quarter Ended June 30, 2008
MOSCOW----Sistema , the largest diversified public corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector, today announced its unaudited consolidated US GAAP financial results for the second quarter ended June 30, 2008. (Wed, 17 Sep 2008 08:00:00 GMT)
Student Loans More Important Than Ever Now
Applications for student loans are up nationwide and also here at Ozarks universities. And in these tough times, more and more people are struggling with the debt they accumulated by getting an education. (Wed, 17 Sep 2008 11:45:14 GMT)
NEWS IN BRIEF
Millennium Bank offers a tailor-made facility for its corporate clients, the Debt Consolidation Loan, designed to refinance and restructure the companies’ loans of working capital, investment or leasing, informs a press release. (Wed, 17 Sep 2008 19:39:42 GMT)
Selling pressure eased in mid-afternoon on the jump in oil and gold prices. But the recovery lost steam and the market ...
After a day of relief, US stocks got pounded again on Wednesday, as investors feared that the ongoing financial turbulence might lead to more government bailouts and further consolidation among desperate banks and securities firms. (Thu, 18 Sep 2008 02:48:20 GMT)
GLOBAL MARKETS - Raw fear pummels stocks, helps bonds
By Kevin Plumberg (Thu, 18 Sep 2008 04:19:07 GMT)
Regional Report / Northwest to prepay $300M in loans ahead of merger
Northwest Airlines said it will prepay $300 million in loans as it prepares for its acquisition by Atlanta-based Delta Air Lines by year's end. The move also will allow Eagan-based Northwest to become a guarantor on Delta's loan obligations after their tie-up is complete, according to a regulatory filing Wednesday. (Thu, 18 Sep 2008 05:29:46 GMT)
Japan provides "a lesson ... in what not to do" in financial crisis
That question has prompted U.S. officials to move aggressively in recent weeks as they seek to save the American financial system while avoiding the kinds of regulatory pitfalls that plunged Japan into economic quicksand almost two decades ago. (Thu, 18 Sep 2008 07:24:40 GMT)
BTA Bank JSC Remains Leading Bank in Kazakhstan, Results of H12008 Show
BTA Bank's JSC (unaudited) IFRS financial statements show that in the first half of 2008, BTA's consolidated assets grew by 9.5% to $27.8 billion and the bank reported a net profit of $231 million. At the end of H12008, the market share of BTA Bank increased by 1.25% to 26.7% further strengthening its status of the country's largest bank. (Thu, 18 Sep 2008 13:22:53 GMT)
BOND REPORT: Treasurys Trade Lower As Central Banks Boost Global Liquidity
Treasury prices fell Thursday after the Federal Reserve authorized a $180 billion expansion of its swap lines with other central banks to increase liquidity in money markets. (Thu, 18 Sep 2008 13:57:54 GMT)
Bond Report: Treasurys trade lower as central banks boost global liquidity
The early action in Treasurys is marked by selling after the Federal Reserve authorized a $180 billion expansion of its swap lines with other central banks to increase liquidity in money markets. (Thu, 18 Sep 2008 13:59:15 GMT)
BOND REPORT: Treasurys Trade Lower As Central Banks Boost Global Liquidity
Treasury prices declined Thursday after the Federal Reserve set a $180 billion expansion of its swap lines with other central banks to bolster liquidity in money markets. (Thu, 18 Sep 2008 16:44:12 GMT)
BOND REPORT: Treasurys Rebound; Liquidity Moves May Not Be Enough
Treasury prices gained Thursday, reversing earlier losses after the Federal Reserve announced a $180 billion expansion of its swap lines with other central banks to bolster liquidity in money markets. (Thu, 18 Sep 2008 18:13:49 GMT)
BOND REPORT: Treasurys Rebound; Liquidity Moves May Not Be Enough
Treasury prices gained Thursday as fears about closing money market funds sent investors to the relative security of government debt. The rally in bonds came as stocks pared their morning gains. (Thu, 18 Sep 2008 18:43:59 GMT)
London midday: Shares hold steady at higher levels
You can count the number of fallers among FTSE 100 constituents on the fingers of one hand as the market remains buoyant on the back of FSA plans to crack down on short-sellers. However, the market has moved into a consolidation phase, with prices holding steady at their higher levels, awaiting a lead from Wall Street. (Fri, 19 Sep 2008 11:24:00 GMT)
London midday: Shares hold steady at higher levels
LONDON (SHARECAST) - You can count the number of fallers among FTSE 100 constituents on the fingers of one hand as the market remains buoyant on the back of FSA plans to crack down on short-sellers. (Fri, 19 Sep 2008 11:32:59 GMT)
Morgan, Goldman Lead Financials Surge on Bank Bailout (Update2)
Sept. 19 (Bloomberg) -- Morgan Stanley and Goldman Sachs Group Inc. , the two biggest independent securities firms in the U.S., led financial shares higher after the government said it would take troubled assets off finance companies' balance sheets. (Fri, 19 Sep 2008 19:30:15 GMT)
What brought down Wall Street?
What brought down the markets? Bad choices, greed — and never learning from past mistakes (Sat, 20 Sep 2008 02:06:38 GMT)
This free advice makes dollars and cents
Credit counselor Ron Benstead knows people who make $24,000 a year and are putting money aside for college and making payments on a house. He has also met people who make “mid-six figures” and are so deeply in debt they’re considering bankruptcy. Most of us are somewhere in-between, but we still could use a little money management help. At noon Tuesday and at 7 p.m. Thursday, Oct. 9, Benstead ... (Sat, 20 Sep 2008 05:13:33 GMT)
Painful lessons as U.S. credit crisis lurches on
Imagine a sequel to Titanic in which the liner, while obviously fated to sink, takes forever to do so. (Sat, 20 Sep 2008 08:41:34 GMT)
Painful lessons as U.S. credit crisis lurches on
Imagine a sequel to Titanic in which the liner, while obviously fated to sink, takes forever to do so. The misery is compounded by not knowing when this panorama of misery will ever end. (Sat, 20 Sep 2008 08:53:14 GMT)
Chat transcript: Calming Financial Fears
The following is a partial transcript of a live chat during "Calming Financial Fears: A 10 Town Meeting" on Sept. 19, 2008. The guest was Assistant Professor Jeanne Haser-Lafond of Rhode Island College. She answered questions on a variety of personal finance topics. (Sat, 20 Sep 2008 15:35:45 GMT)
Largest bailout since the Depression
Economists are calling it one of the worst weeks since the Great Depression. The Wall Street volatility has left experts grappling for answers and consumers worried about their free-falling retirement funds. Those losing the most sleep are workers close to retirement, fearing they might have to stay on the job longer to compensate for dwindling nest eggs. (Sun, 21 Sep 2008 09:08:41 GMT)
US subprime woes will affect ship financing
SHIPPING, a capital intensive industry, will likely be prudent on expansion as financial institutions are expected to be more cautious on ship financing due to the US subprime and housing loan crisis. (Mon, 22 Sep 2008 02:26:48 GMT)
Asia Bucks Up On U.S. Bailout Plan
Stocks rally across region, but plan looks likely to erode investor confidence in the dollar. (Mon, 22 Sep 2008 06:09:49 GMT)
GE Money Concludes Sale of Consumer Finance Business in Japan to Shinsei Bank
GE Money, the consumer financial services unit of the General Electric Company (NYSE:GE), announced today it has concluded the Y580 billion (US$5.4 billion) sale of its Japanese consumer finance business to Shinsei Bank, a leading diversified Japanese bank. All closing conditions have been satisfied, including the receipt of all regulatory approvals. (Mon, 22 Sep 2008 07:35:06 GMT)
Danish Central Bank Rescues Ebh Bank With Liquidity (Update2)
Sept. 22 (Bloomberg) -- Ebh Bank A/S became the second Danish lender to be bailed out by the central bank since the global financial crisis started last year after it booked bigger losses than expected on property loans. (Mon, 22 Sep 2008 08:04:20 GMT)
Danish Central Bank Rescues Ebh Bank With Liquidity (Update3)
Sept. 22 (Bloomberg) -- Ebh Bank A/S became the second Danish lender to be bailed out by the central bank since credit markets seized up last year after it booked larger-than-forecast losses on property loans. (Mon, 22 Sep 2008 09:33:55 GMT)
Zacks Analyst Blog Highlights: Kimberly-Clark Corp., Primedia, Inc., Lehman Brothers Holdings Inc., American ...
CHICAGO----Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. (Mon, 22 Sep 2008 10:00:00 GMT)
Zacks Analyst Blog Highlights: Kimberly-Clark Corp., Primedia, Inc., Lehman Brothers Holdings Inc., American ...
Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Kimberly-Clark Corp. (NYSE: KMB), Primedia, Inc. (NYSE: PRM), Lehman Brothers Holdings Inc. (OTC: LEHMQ), American International Group, Inc. (NYSE: AIG) and ... (Mon, 22 Sep 2008 13:07:26 GMT)
Green energy projects face heightened scrutiny as U.S. cleans up credit mess
Greenwire, 19 September 2008 - The crisis roiling Wall Street is threatening to choke financing for green energy projects. (Mon, 22 Sep 2008 13:45:17 GMT)
McDonald's Says Bank of America Won't Boost Loans (Update3)
Sept. 22 (Bloomberg) -- McDonald's Corp. , the world's largest restaurant company, told some U.S. franchisees to seek other ways to finance store improvements after Bank of America Corp. declined to increase lending. (Tue, 23 Sep 2008 00:17:16 GMT)
Shinsei Bank completes acquisition of GE Consumer Finance
Positioning Shinsei To Become A Leading Responsible Lender To Japanese Consumers Shinsei Bank, Limited announced that it has acquired GE Consumer Finance Co. Ltd., (GECF) and its subsidiaries for an a (Tue, 23 Sep 2008 02:53:56 GMT)
Letters to the Editor:
The solution to the wars about busses, routes, and Bus Rapid Transit is "TaxiBus." (Tue, 23 Sep 2008 06:03:15 GMT)
Understanding the ‘Street’
By Joe Maurer The previous two weeks have been called the most turbulent ever in Wall Street’s 200 year history, and with good reason. We’ve witnessed the bailout of Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, the sale of Merrill Lynch, the $85 billion dollar federal loan to AIG, and the pièce de résistance, the Treasury’s plan to purchase $700 billion in securities from ... (Tue, 23 Sep 2008 06:53:15 GMT)
Assessing the country's economic turmoil
Congress on Monday was fine-tuning the Bush administration's request for as much as $700 billion to buy bad mortgage debt and help mitigate the nation's financial crisis. (Tue, 23 Sep 2008 07:30:33 GMT)
Prosecution rests at Wlasiuk retrial; bank employee testifies
After eliciting detailed information about the defendant's finances, District Attorney Joseph McBride rested his case Monday at Peter Wlasiuk's murder retrial. (Tue, 23 Sep 2008 13:50:22 GMT)
Real estate doldrums drive bankruptcy filings
Valley bankruptcy filings are showing no signs of slowing down as the economic slump grows deeper. Filings hit the high mark for the year last month, and attorney Diane Drain said there's not much optimism that things will improve. (Tue, 23 Sep 2008 14:08:48 GMT)
Dollar Rises on Drop in Oil, Bet Currency's Decline Excessive
Sept. 23 (Bloomberg) -- The dollar rose against the euro for the first time in five days as crude oil prices declined and traders speculated the greenback's biggest drop since January 2001 yesterday was too big to sustain. (Tue, 23 Sep 2008 20:11:53 GMT)
How IT could have prevented the financial meltdown
In the coming weeks the feds and the surviving financial services institutions will have the daunting task of unraveling all the securitized loans and other instruments that are hiding the toxic investments. But does the technology exist to do that? And if so, could it have been used to prevent the bad debt from hitting the fan in the first place? (Wed, 24 Sep 2008 10:30:00 GMT)
How IT could have prevented the financial meltdown
In the coming weeks, the feds and the surviving financial services institutions will have the daunting task of unraveling all the securitized loans and other instruments that are hiding the toxic investments. But does the technology exist to do that? And if so, could it have been used to prevent the bad debt from hitting the fan in the first place? (Wed, 24 Sep 2008 10:30:00 GMT)
How IT could have prevented the financial meltdown
In the coming weeks the feds and the surviving financial services institutions will have the daunting task of unraveling all the securitized loans and other instruments that are hiding the toxic investments. But does the technology exist to do that? And if so, could it have been used to prevent the bad debt from hitting the fan in the first place? The fact is that despite government ... (Wed, 24 Sep 2008 10:53:43 GMT)
Marcial: Regional Banks' Road to Recovery
Wall Street pros say the rebound in shares of PNC, BB&T, and SunTrust could have further to run (Wed, 24 Sep 2008 12:29:56 GMT)
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Norwich based internet marketing company Online Media Group (OMG) has become the first privately owned UK affiliate network to launch in mainland Europe with the opening of a new office in Poland and the launch of a series of significant new campaigns in France, Germany and Spain. (Wed, 24 Sep 2008 13:19:47 GMT)
IMF Executive Board Concludes 2008 Article IV Consultation with Hungary
On September 17, 2008, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Hungary. 1 The current account deficit narrowed in 2007, but the net external liability position is still very large. (Wed, 24 Sep 2008 13:38:48 GMT)
Stocks flounder as clouds gather over US rescue plan
Stock markets in Europe and the United States tottered Wednesday as clouds gathered over prospects for a sweeping US financial sector rescue plan that has sparked stiff resistance from US lawmakers. (Wed, 24 Sep 2008 17:59:00 GMT)
How IT Could Have Prevented the Financial Meltdown
The tools are largely there, but not the visibility needed for regulators and banks to catch problems early. (Wed, 24 Sep 2008 21:47:30 GMT)
RBA welcomes initiatives on US economy
The Reserve Bank of Australia (RBA) has welcomed what it describes as unprecedented actions by US authorities to preserve financial stability in the US and ease the disruption on credit markets. The (Thu, 25 Sep 2008 01:50:02 GMT)
RBA welcomes US bailout plan
THE Reserve Bank of Australia (RBA) has welcomed what it describes as unprecedented actions by US authorities to preserve financial stability in the US and ease the disruption in global credit markets. (Thu, 25 Sep 2008 02:08:00 GMT)
RBA says banks are sound
THE RBA has welcomed a $US700 billion plan to bailout Wall St, and says our banks are in much better shape than their US counterparts. (Thu, 25 Sep 2008 02:08:00 GMT)
Top Scoops
Politics is like being a football coach. You've got to be smart enough to play the game and dumb enough to think it is important -- Eugene McCarthy (Thu, 25 Sep 2008 03:30:14 GMT)
Reserve Bank welcomes US action
THE Reserve Bank of Australia has given the local banking industry a tick of approval and welcomed US moves to boost confidence. (Thu, 25 Sep 2008 07:04:00 GMT)
FDIC May Need $150 Billion Bailout as Local Bank Failures Mount
Sept. 25 (Bloomberg) -- Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won't budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of three, needs cash. (Thu, 25 Sep 2008 09:32:45 GMT)
U.S. bailout deal breaks down after GOP revolts
A Republican revolt stalled talks Thursday for the massive multi-billion-dollar rescue package for Wall Street that had appeared earlier in the day to be a done deal. (Thu, 25 Sep 2008 10:37:59 GMT)
U.S. bailout deal breaks down, Dems blame McCain
Hours after President George Bush and the two men vying for his job met for a historic White House meeting Thursday, talks for the massive multi-billion-dollar rescue package for Wall Street have broken down. (Thu, 25 Sep 2008 14:56:34 GMT)
Letters to the Editor:
The solution to the wars about busses, routes, and Bus Rapid Transit is “TaxiBus.” (Thu, 25 Sep 2008 19:15:21 GMT)
SYNNEX Corporation Reports Fiscal 2008 Third Quarter Results
FREMONT, Calif.----SYNNEX Corporation , a leading business process services company, today announced financial results for the fiscal third quarter ended August 31, 2008. (Thu, 25 Sep 2008 20:05:00 GMT)
Cyber Technology Announces Launch of Student Loan Portal
SchoolLoans.com is a site that allows parents, undergrads, and graduates to research, select, and apply for student loans all in one location. (Fri, 26 Sep 2008 07:01:00 GMT)
FDIC May Need $150 Billion Bailout as More Banks Fail (Update3)
Sept. 25 (Bloomberg) -- Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won't budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of three, needs cash. (Fri, 26 Sep 2008 13:37:39 GMT)
ASX door awaits bid knock
ASX chairman Maurice Newman thinks his successor, David Gonski, may one day get a knock on the door -- from one of the world's major stock exchanges about a merger. (Fri, 26 Sep 2008 14:00:00 GMT)
Cyber Technology Announces Launch of Student Loan Portal
SchoolLoans.com is a site that allows parents, undergrads, and graduates to research, select, and apply for student loans all in one location. (PRWeb Sep 26, 2008) Read the full story at http://www.prweb.com/releases/school/loans/prweb1388234.htm (Fri, 26 Sep 2008 15:21:42 GMT)
Jeremy Warner: WaMu may offer template for B&B solution
Thank goodness for Jamie Dimon, the chairman of JP Morgan Chase. He seems to be one of the few bankers still capable of instilling confidence. More importantly, his bank is one of the few in the US to have escaped largely unscathed from the present maelstrom, and he therefore finds himself almost uniquely well placed to take advantage of the myriad opportunities it presents for consolidation. (Sat, 27 Sep 2008 00:21:08 GMT)
WaMu Becomes Biggest Bank To Fail In U.S. History
As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks -- Washington Mutual Inc. -- has collapsed under the weight of its enormous bad bets on the mortgage market. (Sat, 27 Sep 2008 00:36:45 GMT)
Transcript of presidential debate
Sens. John McCain and Barack Obama debated on the campus of the University of Mississippi Friday night. The moderator for the debate was Jim Lehrer of the NewsHour on PBS. What follows is the full transcript of the debate: (Sat, 27 Sep 2008 03:29:24 GMT)
Transcript of Presidential Debate
Sens. John McCain and Barack Obama debated on the campus of the University of Mississippi Friday night. The moderator for the debate was Jim Lehrer of the NewsHour on PBS. More (Sat, 27 Sep 2008 05:32:27 GMT)
Professor, banker offer thoughts in the storm
When talking to someone who went through the Great Depression, they often explain their stories of hardship with the general phrase "no one had any money." (Sun, 28 Sep 2008 07:23:07 GMT)
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K-State avoided disaster at Snyder Family Stadium by holding off the Ragin’ Cajuns, 45-37. The Wildcats were outgained 509-470, with 335 of Louisiana ’s yards coming on the ground. (Sun, 28 Sep 2008 15:46:52 GMT)
Money 911: Start an emergency savings
If you have questions about your money in today's economy, you're not alone. Here, TODAY personal finance editor Jean Chatzky tackles reader concerns about a few financially sticky situations. (Sun, 28 Sep 2008 19:46:51 GMT)
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The XIX Mortar Board Chapter at K-State received awards for excellence at the 2008 Mortar Board National Conference this summer, according to a recent press release. (Mon, 29 Sep 2008 05:01:48 GMT)
Lessons for US from Japan's debt crisis
Painful as it may be, acting swiftly to tackle the U.S. financial crisis with a public bailout is the right move _ and perhaps the chief lesson from Japan's bad debt debacle of the 1990s, economists and politicians here say. (Mon, 29 Sep 2008 07:10:00 GMT)
Lessons for US from Japan's debt crisis
Painful as it may be, acting swiftly to tackle the U.S. financial crisis with a public bailout is the right move _ and perhaps the chief lesson from Japan's bad debt debacle of the 1990s, economists and politicians here say. (Mon, 29 Sep 2008 07:10:00 GMT)
Lessons for US from Japan's debt crisis
Painful as it may be, acting swiftly to tackle the U.S. financial crisis with a public bailout is the right move _ and perhaps the chief lesson from Japan's bad debt debacle of the 1990s, economists and politicians here say. (Mon, 29 Sep 2008 07:10:00 GMT)
Lessons for US from Japan's debt crisis
By YURI KAGEYAMA, AP Business Writer. Painful as it may be, acting swiftly to tackle the U.S. financial crisis with a public bailout is the right move _ and perhaps the chief lesson from Japan's bad debt debacle of the 1990s, economists and politicians here say. (Mon, 29 Sep 2008 08:40:39 GMT)
FTSE sinks 3.3 pct as bank worries escalate
* FTSE 100 down 3.3 pct (Mon, 29 Sep 2008 11:29:22 GMT)
IN CASE YOU MISSED IT: Watch the video, read the transcript of Friday's presidential debate
Just plugging back in after your weekend? See what people are talking about by watching or reading Friday's debate between Sen. John McCain and Sen. Barack Obama. (Mon, 29 Sep 2008 11:29:37 GMT)
FTSE sinks 3.3 percent as worries escalate
The FTSE 100 tumbled 3.3 percent by midday Monday as the nationalisation of Bradford & Bingley dealt another blow to a reeling bank sector ahead of a U.S. lawmaker vote on a rescue package. (Mon, 29 Sep 2008 11:34:00 GMT)
100th Battalion memorial services held in Hanapepe
Annual memorial services were held yesterday at the Hanapepe Veterans Cemetery. The services are held each year on the last Sunday of September, which is the Sunday closest to the first battalion member killed in action in the war in Europe. (Mon, 29 Sep 2008 12:12:57 GMT)
Citigroup Buys Banking Operations of Wachovia
The sale would further concentrate Americans? bank deposits in the hands of just three banks: Bank of America, JPMorgan Chase and Citigroup. (Mon, 29 Sep 2008 12:48:09 GMT)
Citigroup Buys Banking Operations of Wachovia
The sale would further concentrate Americans? bank deposits in the hands of just three banks: Bank of America, JPMorgan Chase and Citigroup. (Mon, 29 Sep 2008 13:36:23 GMT)
Citigroup buying Wachovia operations
Citigroup Inc. will buy the banking operations of troubled Wachovia Corp. in a deal brokered by the Federal Deposit Insurance Corp. Citigroup will pay $2.1 billion and assume Wachovia’s senior and subordinated debt. All deposits with Wachovia are insured, the FDIC said Monday morning. The FDIC said it is not classifying Wachovia as a bank failure. (WB) (Mon, 29 Sep 2008 13:40:40 GMT)
Citigroup to buy Wachovia’s banking operations
In another sign of consolidation in the troubled banking sector, Citigroup Inc. has agreed to buy Wachovia Corp.’s banking operations. New York-based Citigroup will pay $2.1 billion to Wachovia for its retail bank, corporate and investment bank and wealth-management businesses. (C) (WB) (WFC) (Mon, 29 Sep 2008 19:10:04 GMT)
US backs Citigroup takeover of Wachovia, gets stake
Citigroup agreed to buy troubled Wachovia's banking operations in a deal Monday that gives the US government a stake in another sector shakeup amid the worst financial crisis since the Great Depression. (Mon, 29 Sep 2008 21:39:17 GMT)
Citigroup to Buy Wachovia’s Bank Assets for $1 a Share
Updated 9:39 a.m.: Citigroup has agreed to buy Wachovia ’s banking operations in a government-brokered deal for $1 a share in stock, a move that that would concentrate power within the nation’s banking industry in the hands of a few giant lenders, The New York Times’s Eric Dash and Andrew Ross Sorkin reported Monday morning. (Mon, 29 Sep 2008 23:09:23 GMT)
America, it’s time to play Monopoly!
With the announcement of Citigroup’s purchase of the Wachovia Corporation, the Federal Deposit Insurance Corporation told us Monday morning of the latest bank to get whacked by the predatory mortgage market, as in what goes around comes around. (Tue, 30 Sep 2008 04:42:37 GMT)
Citigroup-Wachovia deal may prove harmful to consumers
Citigroup Inc.'s takeover of Wachovia's banking business will create a triumvirate of behemoths controlling nearly a third of U.S. deposits. This year's massive consolidation - much of it pushed through on an emergency basis by regulators - is creating conditions that could (Tue, 30 Sep 2008 06:19:25 GMT)
Millennium Bank refinances company loans
Millennium Bank has made available a tailor-made facility for its corporate clients, the Debt Consolidation Loan, designed to refinance and restructure the companies' loans of working capital, investment or leasing. (Tue, 30 Sep 2008 14:05:45 GMT)
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