Debt Consolidation News Dec 2008
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Jeff Gates: All Too Familiar
When Boris Yeltsin ran low on cash, advisers urged that funds be borrowed from oligarch-controlled banks. As collateral, Moscow pledged shares in state-owned oil companies, the crown jewels of the Russian economy. (Mon, 01 Dec 2008 00:18:31 GMT)
01-12-2008: CEOs sizing up the global economic crisis
THE impact of the global financial and economic crisis has reached our shores as the country encountered the slowest quarterly growth in three years for the three months ended September. (Mon, 01 Dec 2008 06:31:30 GMT)
Local bankruptcies are up 23 percent
In the New Albany and Louisville divisions of federal bankruptcy court, there have been a combined 8,661 company and individual bankruptcies so far this year -- an increase of 23 percent from a year earlier. (Mon, 01 Dec 2008 09:58:50 GMT)
Leverage And Pain
Consumers are replacing a 25-year borrowing and spending binge with a saving spree. (Mon, 01 Dec 2008 11:15:11 GMT)
Credit-card industry may cut $2 trillion lines: analyst
The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said. (Mon, 01 Dec 2008 17:38:01 GMT)
U.S. Bank poised to grow bigger, stronger
Chief Executive Richard Davis, who refused to back subprime credit, expects his company to pick up more market share in the crisis. (Tue, 02 Dec 2008 04:41:36 GMT)
FACTBOX-How Russian authorities are dealing with crisis
MOSCOW, Dec 2 (Reuters) - Russia has pledged over $200 billion from budget funds and its oil wealth cash pile to help cushion the economy from a sharp slowdown and to kick-start its financial markets. (Tue, 02 Dec 2008 15:04:36 GMT)
GM Sends Congress Plan Asking For $12 To $18 Billion, "Alternatives" For Saturn Brand [Carpocalypse Now]
GM's response to the congressional ultimatum, just released, outlines a need for $12 billion in loans, plus potentially $6 billion later, and plans to reach profitability by pursuing "alternatives"... (Tue, 02 Dec 2008 22:00:52 GMT)
Detroit's New Bill: $34 Billion
(Wed, 03 Dec 2008 05:03:26 GMT)
Detroit automakers warn they teeter on the edge
WASHINGTON -- General Motors Corp. and Chrysler LLC yesterday warned that they could collapse without federal aid before the end of the month, as they joined with Ford Motor Co. to urge lawmakers to grant them $34 billion in loans. (Wed, 03 Dec 2008 05:42:29 GMT)
GM, Chrysler's plea: Aid to survive month
General Motors Corp. and Chrysler LLC warned Tuesday they could collapse without federal aid before the end of the month, as they joined with Ford Motor Co. to urge $34 billion in loans and to press lawmakers to resolve a standoff threatening hundreds of thousands of jobs. (Wed, 03 Dec 2008 08:26:25 GMT)
MasTec Announces Revised Terms for Wanzek Construction Inc. Acquisition and Reaffirms 2008 and 2009 Guidance
MasTec, Inc. today announced that it has revised the terms of its proposed acquisition of Wanzek Construction, Inc. Under the revised terms, MasTec will pay $50 million in cash, 7.5 million shares of MasTec common stock, $55 million in the form of a convertible note and assume $15 million of Wanzek's debt and pay a two year earnout equal to 50% of Wanzek's EBITDA in excess of $40 million per ... (Wed, 03 Dec 2008 12:00:00 GMT)
Russia’s MDM, Ursa Forced Into Merger as Credit Crisis Deepens
Dec. 3 (Bloomberg) -- MDM Bank and Ursa Bank will merge to form Russia’s second-largest private lender as a fall in retail deposits and soaring bad loans added to evidence that the financial crisis is accelerating in the country. (Wed, 03 Dec 2008 13:44:43 GMT)
Treasuries Due in Five Years and Less Drop From Records Highs
Dec. 3 (Bloomberg) -- Treasuries maturing in five years and less fell for the first time in six days as traders judged the rally that pushed yields to record lows was unsustainable given U.S. government efforts to revive the economy. (Wed, 03 Dec 2008 15:04:02 GMT)
Treasuries Due in Five Years and Less Drop From Records Highs
Dec. 3 (Bloomberg) -- Treasuries maturing in five years and less fell for the first time in six days as traders judged the rally that pushed yields to record lows was unsustainable given U.S. government efforts to revive the economy. (Wed, 03 Dec 2008 15:09:35 GMT)
Russia’s MDM, Ursa Merge as Credit Crisis Deepens (Update1)
Dec. 3 (Bloomberg) -- MDM Bank and Ursa Bank will merge to form Russia’s second-largest private lender as a fall in retail deposits and soaring bad loans added to evidence that the financial crisis is accelerating in the country. (Wed, 03 Dec 2008 16:29:19 GMT)
EpiCept Reports New Data on Benefits of Maintenance Therapy With Ceplene® and interleukin-2 For AML Patients At ASH ...
Regulatory News: EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) today announced ... (Thu, 04 Dec 2008 05:03:16 GMT)
FinancialDecisionsGroup Launches Their Free Debt Consolidation Programs Online
Financial Decisions Group, located online at financialdecisionsgroup.net, recently launched their online debt consolidation website to assist more customers in obtaining help with their debts. (Thu, 04 Dec 2008 07:01:00 GMT)
Level 3 CEO Crowe bullish on economy
Level 3 CEO Jim Crowe is bullish on the future of the U.S. economy and the broadband industry, once the current economy can get the blood flowing again. (Thu, 04 Dec 2008 07:09:28 GMT)
Big Three plead for $34B from Congress
The CEOs of the leading automakers were back before Congress Thursday, arguing for a larger bailout than they asked for just two weeks ago, and hoping to undo the damage they did to their case at the earlier hearings. (Thu, 04 Dec 2008 15:28:37 GMT)
Arab Republic of Egypt—2008 Article IV Consultation, Preliminary Conclusions of the IMF Mission
1. Economic performance since 2004 has been impressive, underpinned by the structural reform program that has included tax reform and fiscal consolidation, the liberalization of foreign trade, investment, and the exchange market, the privatization of state entities, and measures to strengthen bank balance sheets and banking supervision. (Thu, 04 Dec 2008 21:58:56 GMT)
Scripps puts Rocky Mountain News up for sale
The Rocky Mountain News, Colorado's oldest newspaper, was put up for sale Thursday after its owner, E.W. Scripps Co., said it lost about $11 million on the business in the first nine months of the year. (Fri, 05 Dec 2008 00:15:06 GMT)
Analyzing the Credit Crisis: Was the SEC Missing in Action?
Sometime in the next decade, an economic historian will write the definitive account of the 2008 credit crisis. The extent to which there was a regulatory failure is a critical issue that such a history must face. Indeed, this issue is sufficiently pressing that even at this early point it needs to be addressed. What responsibility does the SEC bear for not resisting the steady slide of the ... (Fri, 05 Dec 2008 01:03:11 GMT)
Color of Money Live
Personal finance columnist Michelle Singletary will host a free-for-all discussion about money matters. (Fri, 05 Dec 2008 05:35:18 GMT)
Scripps puts Denver paper up for sale
DENVER (AP) — The Rocky Mountain News, Colorado's oldest newspaper, was offered for sale Thursday after owner E.W. Scripps Co. said it lost about $11 million on the operation in the first nine months of the year. (Fri, 05 Dec 2008 10:04:58 GMT)
Rocky Mountain News May Shut Down
DENVER - The Rocky Mountain News, Colorado's oldest newspaper, was offered for sale on Thursday after owner E.W. Scripps Co. said it lost about $11 million on its Denver operation in the first nine months of the year. Rich Boehne, Scripps president and CEO, said shutting the paper down is a possibility if no acceptable offers emerge by mid-January. (Fri, 05 Dec 2008 14:47:29 GMT)
Rocky Mountain News May Shut Down
DENVER - The Rocky Mountain News, Colorado's oldest newspaper, was offered for sale on Thursday after owner E.W. Scripps Co. said it lost about $11 million on its Denver operation in the first nine months of the year. Rich Boehne, Scripps president and CEO, said shutting the paper down is a possibility if no acceptable offers emerge by mid-January. (Fri, 05 Dec 2008 15:17:33 GMT)
Long-term real estate financing has advantages for farmers
Marl Carter, Oklahoma City, Okla., has more than 30 years experience in financing farm and ranch real estate. He serves a large area, approximately eight states, from his Oklahoma City office. The majority of his loans are in the states of Oklahoma, Kansas, Texas, Arkansas and Missouri. (Sat, 06 Dec 2008 02:22:50 GMT)
Family Finances: Debt consolidation loans may not be the answer
It may sound like the easiest solution to your family's debt problem: Get a debt consolidation loan. (Sat, 06 Dec 2008 05:32:31 GMT)
Color of Money Live
Personal finance columnist Michelle Singletary will host a free-for-all discussion about money matters. (Sat, 06 Dec 2008 08:38:07 GMT)
Auto Bailout Accord Nearly Reached
(Sat, 06 Dec 2008 19:45:20 GMT)
12/6/2008 1:40:00 PM Barron's The Trader: Hopes Fade For Corporate Profits
If investors can no longer count on profit growth, what can they count on? The question looms larger as a deepening recession quashes hopes for a swift rebound in corporate profits. (Sat, 06 Dec 2008 19:51:22 GMT)
Business : Wealth reserves to shield UAE from global credit crisis
DUBAI - The global crisis will have only a limited impact on the UAE economy, thanks to the huge wealth accumulated during the record surge in oil prices, according to a new banking report. (Sun, 07 Dec 2008 10:05:51 GMT)
Falling values put Iowans underwater on mortgages
Deb Baker believes she’s one of about 31,600 Iowa homeowners whose mortgage is more than the home’s value - a situation that could hinder her ability to refinance her unaffordable loan or to sell her home. An additional 52,200 Iowans have a mortgage that’s close to being underwater, a national report shows. (Sun, 07 Dec 2008 10:13:20 GMT)
Dana facing big hurdles for survival
On paper, Dana Holding Corp. is Toledo's largest company, a Fortune 500 stalwart with more than $8 billion in annual sales and a manufacturing pedigree that stretches back more than a century. But right now - as its largest and most important customers plead with Congress for financial lifelines - Dana may be little more than a passenger in an out-of-control domestic automotive industry ... (Sun, 07 Dec 2008 10:14:32 GMT)
More job losses expected in battered manufacturing sector
TORONTO - Canada's battered manufacturing sector shed 38,000 jobs last month and has lost nearly 400,000 factory jobs since an employment peak in 2002 - a trend expected to intensify over the next year as the North American economic slump deepens and demand for everything from auto parts to newsprint dries up. (Sun, 07 Dec 2008 20:35:00 GMT)
Traditional Radio, Part One: Wall Street, Unemployment, The FCC, and Financing
Traditional radio has allowed MBAs to guide its destiny, allowing creativity to idle and new media to forge ahead. This is the first of a three-part series on the problems of traditional radio and the solutions.Identifying the problem with traditional radio is easy -- its approach to gathering the majority of listening multitudes is outdated. This revelation is openly known to many broadcasters ... (Mon, 08 Dec 2008 01:10:34 GMT)
VIEWER STORIES: I Lost My Job
I was an IT Project Management Consultant for a large bank and mortgage company in Des Moines. My contract was cancelled on Nov. 9, 2007. I have applied and interviewed for hundreds of jobs in the last year, each time competing against hundreds of other applicants. (Mon, 08 Dec 2008 11:09:56 GMT)
M&A to Decline 30% in 2009 as Government-Forced Deals Dominate
Dec. 8 (Bloomberg) -- Forced sales demanded by creditors and government-brokered transactions may provide the only consolation for bankers in what promises to be the slowest year for mergers and acquisitions since 2004. (Mon, 08 Dec 2008 14:19:20 GMT)
US capital reserve ruling helps lift Prudential
Life assurer Prudential led the blue-chips upwards as the FTSE 100 staged a huge rally, closing 6.1pc higher. (Mon, 08 Dec 2008 21:11:20 GMT)
Tribune Files Bankruptcy One Year After Zell Bailout (Update3)
Dec. 8 (Bloomberg) -- Tribune Co. , publisher of the Chicago Tribune and Los Angeles Times, sought bankruptcy court protection from creditors amid tumbling advertising less than a year after Sam Zell took it private. (Mon, 08 Dec 2008 23:20:18 GMT)
Auto bailout must bring change to GM
The prospect of a hanging for the U.S. auto industry has at last concentrated some minds on Capitol Hill. For weeks, House Speaker Nancy Pelosi, D-Calif., has been insisting that a bailout come from the Treasury Department's Troubled Assets Relief Program, not a $25 billion fund earmarked for fuel-efficiency improvements as President Bush insisted. (Tue, 09 Dec 2008 08:16:49 GMT)
Banking and Financial
Liniya Prava Russian Federation: Protection Of Bond Holders´ Rights - What Could Be Done In Case Of Default? (Tue, 09 Dec 2008 13:29:21 GMT)
Stream Reports Nine Month 2008 Results
Stream Communications Network & Media Inc. , a broadband cable company offering cable TV, high-speed internet and VoIP services in Poland, today announced results for the nine months ended September 30, 2008. (Tue, 09 Dec 2008 15:20:00 GMT)
ISEQ up but pares gains as Anglo falls
The rally on the Dublin shares market continued but lost momentum in the afternoon with Anglo Irish continuing its downward spiral. The ISEQ has fallen by 75pc since its peak in February 2007. In 2008, it recorded its worst performance in 225 years as it slumped 63pc. (Tue, 09 Dec 2008 17:55:42 GMT)
UAE Can Maintain Fiscal Surplus at $23 Oil
10 December 2008 DUBAI - UAE will be able to tide over the the global economic melt-down as the country is well-positioned to maintain fiscal surplus in 2008 and 2009 since it has the lowest "break-even oil price" in the GCC of $23 (Dh84.48) per barrel against the IMF's baseline petroleum price projection of $68 per barrel for 2009, a report by Abu Dhabi Commercial Bank (ADCB) said. (Wed, 10 Dec 2008 06:21:40 GMT)
Gilbertson climbs into platinum
Brian Gilbertson's Pallinghurst Resources has taken control of TSX-listed Platmin, in a move that should boost the embattled platinum sector. (Wed, 10 Dec 2008 09:25:12 GMT)
Spain: 2008 Article IV Consultation - Concluding Statement of the Mission
After 15 years of impressive growth led by a housing boom, a gradual correction of accumulated imbalances got underway. In mid-2007, the global financial crisis accelerated Spain's slowdown when funding for the excessive external deficit dried up. (Wed, 10 Dec 2008 14:14:02 GMT)
Hungary’s IMF-Led Loan May Speed Euro Adoption, Barclays Says
The country secured 20 billion euros ($25.9 billion) of loans from the International Monetary Fund , the European Union and the World Bank after investors shunned its currency and bonds on concern that it may have difficulty repaying debt. In return, Hungary agreed to reduce its financing needs. (Wed, 10 Dec 2008 16:56:40 GMT)
Tribune chairman says bankruptcy `pre-emptive'
Sam Zell, the chairman and chief executive of Tribune Co., said Wednesday that his company's decision to seek bankruptcy protection this week grew out of a desire to maintain Tribune's long-term value. (Wed, 10 Dec 2008 21:39:00 GMT)
Zell: Tribune bankruptcy a 'pre-emptive' move
(AP) — Sam Zell, the chairman and chief executive of Tribune Co., said Wednesday that his company's decision to seek bankruptcy protection this week grew out of a desire to maintain Tribune's long-term value. "In the end, my responsibility is to preserve the value of the company and to make ... (Wed, 10 Dec 2008 22:09:20 GMT)
Initial hearing held in Tribune bankruptcy
Tribune Co. was authorized Wednesday to make certain payments to employees, vendors and others as it works through a Chapter 11 bankruptcy reorganization. (Wed, 10 Dec 2008 23:03:29 GMT)
Initial hearing held in Tribune bankruptcy
Tribune Co. was authorized Wednesday to make certain payments to employees, vendors and others as it works through a Chapter 11 bankruptcy reorganization. Judge Kevin Carey said the company, which owns the Los Angeles Times, Chicago Tribune, The (Baltimore) Sun and other dailies, could pay $74 million that was owed to employees before Monday's bankruptcy petition was filed. That total ... (Thu, 11 Dec 2008 01:30:21 GMT)
Tribune gets OK to pay some
Judge says company can compensate some workers, vendors owed prior to bankruptcy filing. Judge says company can compensate some workers, vendors owed prior to bankruptcy filing. (Thu, 11 Dec 2008 12:14:31 GMT)
M&A or A&E? Crisis to dominate dealmaking in 2009
Merger bankers will spend much of 2009 tending to the corporate victims of the credit crisis, as they slim down companies, pair up banks and help the cash-rich few to swallow weakened rivals. (Thu, 11 Dec 2008 12:54:00 GMT)
Finance: The Changes to Come
S&P details some of the shifts in markets and regulation that investors can expect as the smoke clears from the financial crisis (Thu, 11 Dec 2008 13:29:47 GMT)
UPDATE Delaware Judge Authorizes Tribune to Pay $74 Million Owed to Employees
WILMINGTON, Del. Tribune Co. was authorized Wednesday to make certain payments to employees, vendors and others as it works through a Chapter 11 bankruptcy reorganization. (Thu, 11 Dec 2008 15:14:54 GMT)
NZX Announcements: CNX
CNX 12/12/2008 HALFYR REL: 1546 HRS Connexionz Limited HALFYR: CNX: Connexionz Half Year Results Connexionz Limited (NZAX:CNX) Results for announcement to Market Reporting period 6 months to 30 September 2008 Previous reporting period 6 months to 30 September 2007 Amount (000) Percentage change Revenue from ordinary activities $NZ 1,983 +66% Profit (loss) from ordinary activities after tax ... (Fri, 12 Dec 2008 03:12:15 GMT)
GM could lose 40% of dealers in bankruptcy
General Motors may lose as many as 40 percent of its 6,500 U.S. dealerships should lender GMAC go bankrupt, a key retailer for the automaker said. (Fri, 12 Dec 2008 10:15:20 GMT)
(AFX UK Focus) 2008-12-12 11:58 Glance-STOCKS NEWS EUROPE-HBOS bad debts warn hurts UK banks
STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News (Fri, 12 Dec 2008 12:30:13 GMT)
Local Bankers Offer Encouraging News at Chamber Forum
ELLSWORTH — Local bankers had encouraging news for 72 business owners and managers at the Ellsworth Area Chamber of Commerce’s Eggs and Issues meeting Tuesday at the Holiday Inn. (Fri, 12 Dec 2008 19:56:26 GMT)
Debt Consolidation
"Do employees at a tea factory get a coffee break? " The first thing that you need to avoid is rushing around with no direction. Like most other people, it is hard to quickly come to right decisions when the clouds of trouble and possibly despair come closing in. (Sat, 13 Dec 2008 01:03:27 GMT)
BUSINESS: Need a loan? Bank said no? Ask a peer
Peer-to-peer lending sites fill gap left by banks Advertisement: C & M Ford Sales Inc. Employee Pricing PLUS For a limited time you pay what we pay! Plus up to $6,000 cash back on most Ford vehicles! (Sat, 13 Dec 2008 05:49:59 GMT)
UAE expected to post fiscal surpluses despite crisis
Dubai, 7th Dec. 2008 (WAM) -- The global crisis will have only a limited impact on the UAE economy, thanks to the huge wealth accumulated during the record surge in oil prices, according to a new banking report. (Sat, 13 Dec 2008 12:06:09 GMT)
Debt settlement company seeing more consumers in dire straits
DAVID FALCHEKSTAFF WRITER A barometer of changing economic times may be Jack Craven’s client count. (Sun, 14 Dec 2008 09:45:20 GMT)
Debt settlement company seeing more consumers in dire straits
DAVID FALCHEKSTAFF WRITER A barometer of changing economic times may be Jack Craven’s client count. (Mon, 15 Dec 2008 09:27:08 GMT)
Ten Tips for Boosting Your Credit Score in 2009
The worsening economic crisis has put more pressure on consumers and their credit than ever before. Credit scores should be a top priority for consumers because it is the most important factor in determining creditworthiness. Credit expert Kenneth Lin offers ten new tips for improving your score in 2009. (Mon, 15 Dec 2008 12:05:00 GMT)
It's all about rep now for Zell
All Sam Zell can salvage from Tribune Co. now is his reputation. Tribune's bankruptcy filing last week will strip him of the rich potential upside he negotiated a year-and-a-half ago when he took over Tribune amid an easy-credit environment that allowed borrowers to dictate terms to lenders. ... (Mon, 15 Dec 2008 12:39:10 GMT)
Ten Tips for Boosting Your Credit Score in 2009
The worsening economic crisis has put more pressure on consumers and their credit than ever before. Credit scores should be a top priority for consumers because it is the most important factor in determining creditworthiness. Credit expert Kenneth Lin offers ten new tips for improving your score in 2009. (PRWeb Dec 15, 2008) Read the full story at ... (Mon, 15 Dec 2008 13:12:13 GMT)
How Russian authorities are dealing with crisis
Russia has pledged over $200 billion (133 billion pounds) from budget funds and its oil wealth cash pile to help cushion the economy from a sharp slowdown and to kick-start its financial markets. (Mon, 15 Dec 2008 17:19:00 GMT)
(AFX UK Focus) 2008-12-15 17:26 FACTBOX-How Russian authorities are dealing with crisis
MOSCOW, Dec 15 (Reuters) - Russia has pledged over $200 billion from budget funds and its oil wealth cash pile to help cushion the economy from a sharp slowdown and to kick-start its financial markets. So far, the crisis has seen companies cut jobs, salaries and investment plans, forced consolidation in Russia's 1,000-plus banking sector and prompted a rise in corporate debt defaults. Following ... (Mon, 15 Dec 2008 17:45:20 GMT)
(AFX UK Focus) 2008-12-15 17:26 FACTBOX-How Russian authorities are dealing with crisis
MOSCOW, Dec 15 (Reuters) - Russia has pledged over $200 billion from budget funds and its oil wealth cash pile to help cushion the economy from a sharp slowdown and to kick-start its financial markets. So far, the crisis has seen companies cut jobs, salaries and investment plans, forced consolidation in Russia's 1,000-plus banking sector and prompted a rise in corporate debt defaults. Following ... (Mon, 15 Dec 2008 17:46:31 GMT)
UPDATE: Sifma Report Sees US Recession Through Mid-2009
(Updates to add details on outlook for housing and equity markets.) By Maya Jackson Randall Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The yearlong U.S. recession will likely continue until mid-2009, a group representing hundreds of securities firms, banks and asset managers projected in a report released Monday. (Mon, 15 Dec 2008 19:38:33 GMT)
2nd UPDATE: Sifma Sees US Recession Through Mid-2009
(Adds comment from Sifma's report in the third paragraph.) WASHINGTON -(Dow Jones)- The yearlong U.S. recession will likely continue until mid-2009, a group representing hundreds of securities firms, banks and asset managers projected in a report released Monday. (Mon, 15 Dec 2008 20:23:16 GMT)
EpiCept Announces Health Canada’s Approval for Ceplene Filing
Regulatory News: EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) ... (Tue, 16 Dec 2008 05:15:52 GMT)
EpiCept Announces Health Canada’s Approval for Ceplene Filing
Regulatory News: (Tue, 16 Dec 2008 05:26:17 GMT)
GOLDMAN SACHS: THE NEW CORLEONE FAMILY
Anyone who has missed that the profound influence by Goldman Sachs leadership at the Dept Treasury has contributed to the destruction of both the USEconomy and US banking system is simply asleep since 1992. JPMorgan is the other principal player. (Tue, 16 Dec 2008 13:54:35 GMT)
Lawsuits, the Cadaver & Gold
Use the above link to subscribe to the paid research reports, which include coverage of several smallcap companies positioned to rise during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. (Tue, 16 Dec 2008 19:46:35 GMT)
How to avoid money traps in tough financial times
In tough financial times, predatory lending abounds and desperate people can fall into “money traps.” University of Illinois Extension consumer and family economics educator Susan Taylor advises consumers to steer clear of a number of “solutions” to their problems. (Tue, 16 Dec 2008 19:54:20 GMT)
Background Note: Republic of the Congo
Geography Area: 342,000 sq. km (132,000 sq. mi.); slightly larger than New Mexico. Cities: Capital --Brazzaville (pop. 800,000). Other cities --Pointe-Noire (450,000), Dolisie (150,000). (Tue, 16 Dec 2008 22:03:32 GMT)
(AFX UK Focus) 2008-12-17 08:08 Glance-European Factors -- Futures points higher after Fed rate cut
LONDON, Dec 17 (Reuters) - European shares were seen opening higher on Wednesday, boosted by a Federal Reserve move to slash interest rates to a range of zero to 0.25 percent, and by the prospect of oil production cuts. (Wed, 17 Dec 2008 08:14:09 GMT)
Commentary: Does Taiwan DRAM deserve rescue?
There have been constant calls for a truce among Taiwan's DRAM makers and for government bailout for Taiwan's DRAM industry: these are the local DRAM makers' tactics to draw attention and plead for financial support. However, does the Taiwan DRAM industry deserve a rescue? For the government to work out a pragmatic response, it has to tackle a host of complex issues. (Wed, 17 Dec 2008 09:42:14 GMT)
World Bank Loans US$100 Million to Promote Competitiveness, Fiscal Discipline, and Accountability in Panama
The World Bank’s Board of Directors approved a US$100 million loan to support economic growth in Panama by enhancing private sector competitiveness, consolidating fiscal discipline and increasing public sector accountability. (Wed, 17 Dec 2008 10:15:39 GMT)
CBA snafu shows banking woes
THE Commonwealth Bank's capital raising was a debacle of the bank's own making. (Wed, 17 Dec 2008 13:00:00 GMT)
Dorchester plan approved
Dorchester Pacific investors are destined for a "dance with the devil" after being swayed by directors to back their deferred-repayment plan ahead of receivership. (Wed, 17 Dec 2008 16:13:23 GMT)
MiG fires warning shot for holders of state-related debt after failing to cover put option on RUB 3bn bond
This article is provided to FT.com readers by Debtwire —the most informed news service available for financial professionals in fixed income markets across the world. (Wed, 17 Dec 2008 16:27:07 GMT)
Daily Headline News for December 17, 2008
Digest of headline news as of 7:25 p.m. Moscow time on December 17: BUSINESS & FINANCE *** RUSSIAN ECONOMY COULD GROW 2.4% IN 2009 - ECON MINISTER Russia's economy could grow 2.4% in 2009, according to the base scenario, Economic Development Minister Elvira Nabiullina said following a meeting on economic issues with the Russian president. (Wed, 17 Dec 2008 16:33:45 GMT)
BoC chief says economic crisis will 'end'
The governor of the Bank of Canada says aggressive measures currently being used to curtail the economic crisis will ultimately work. But Mark Carney warned Canadians that 2009 will be a tough year. (Wed, 17 Dec 2008 19:15:11 GMT)
GM denies it is back in merger talks with Chrysler
General Motors is denying reports it has resumed merger talks with Chrysler. The reports came after Chrysler announced it was shutting down North American plants for a month. (Thu, 18 Dec 2008 13:30:01 GMT)
New Program From Think Debt Relief Offers Help for Those Struggling With Debt
With the holidays approaching, as the unemployment rate soars to the highest level in over a decade and the economy limps its way through the current recession, consumers struggling to meet minimum credit card payments may be able to get the help they need from a new consumer debt relief program offered by Think Debt Relief. (Thu, 18 Dec 2008 14:10:00 GMT)
Mechel Reports 2008 First Half and Nine Months Financial Results
Revenues in the first nine months increased 84.7% to $8.6 billion - (Thu, 18 Dec 2008 14:15:00 GMT)
Expansion in recession
Plans for Mandarin Chinese classes at Eastern and Northwestern. The schools challenge their students with a non-traditional course while keeping an eye on their budgets. (Thu, 18 Dec 2008 14:30:55 GMT)
Mechel Reports 2008 First Half and Nine Months Financial Results
MOSCOW, December 18 /PRNewswire/ -- - Revenues in the first nine months increased 84.7% to US$8.6 billion - - Operating income in the first nine months increased 167% to US$2.8 billion - - Net income in the first nine months increased 132% to US$1.6 billion, or US$3.94 per ADR/ordinary share - Mechel OAO (NYSE: MTL), a leading Russian integrated mining and steel group, today announced financial ... (Thu, 18 Dec 2008 16:06:16 GMT)
Debt Consolidation
In case you are facing a similar situation as described above do not panic. Instead, simply adopt debt consolidation techniques to save your hard-earned money. You can easily augment your savings by taking the debt consolidation loans. (Fri, 19 Dec 2008 04:17:04 GMT)
Debt Consolidation
Each state and each country have certain law against payday loan borrowers. For example, Oklahoma's laws allow payday loan's repeat borrowers who have taken out three consecutive loans to repay their loan balance in four equal installments. (Fri, 19 Dec 2008 04:19:30 GMT)
GLOBAL MOTOR INDUSTRY
collapse in vehicle sales could lead to an overdue shake-out of the international motor industry, say analysts. Ten years ago, when Daimler-Benz bought Chrysler, pundits predicted the deal would herald an era of consolidation through takeovers and mergers. (Fri, 19 Dec 2008 08:59:47 GMT)
For 2008, one story, countless angles
Every year we reporters and editors gather in our smokeless newsrooms to debate the top stories of the year. This year, on the business desk at least, there was no need for debate. (Fri, 19 Dec 2008 13:05:14 GMT)
United Community Financial Corp. Announces Agreement To Sell Butler Wick & Co., Inc. To Stifel Financial Corp.
YOUNGSTOWN, Ohio----United Community Financial Corp. , the parent company of Butler Wick Corp., announced today that it has entered into a Stock Purchase Agreement with Stifel Financial Corp. , to sell all of the outstanding capital stock of Butler Wick & Co., Inc. , a wholly-owned subsidiary of Butler Wick Corp. (Fri, 19 Dec 2008 13:20:00 GMT)
Cerberus statement on bridge loans
Cerberus Capital Management, L.P. issued the following statement today: (Fri, 19 Dec 2008 19:54:03 GMT)
Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 6% on the Week
Gold dropped almost $30 to as low as $829.30 by a little before 8AM EST before it rebounded in New York, but it still ended with a loss of 2.7%. Silver fell all the way to $10.538 before it also rebounded in New York , but it still ended with a loss of 2.7%. (Fri, 19 Dec 2008 21:54:45 GMT)
Statement By Cerberus Capital Management
NEW YORK, December 19, 2008: Cerberus Capital Management, L.P. ("Cerberus") issued the following statement today: Cerberus is pleased that the Department of Treasury has delivered its proposal to provide assistance to Chrysler in the form of a $4 billion secured loan to Chrysler Holdings, LLC the proceeds of which will be made available to Chrysler LLC. Cerberus looks forward to working with the ... (Fri, 19 Dec 2008 22:27:01 GMT)
Low Mortgage Rates May Mean Good Time To Refinance
If the interest rate on your current home mortgage is above 6.00 percent then you might be able to save thousands of dollars by refinancing your mortgage. That's because we are hitting record lows in home mortgage interest rates. (Sat, 20 Dec 2008 00:36:59 GMT)
Ratings show credit unions buffeted by delinqent loans
Even credit unions are feeling the strain of a troubled economy. Santa Cruz Community Credit Union, Santa Cruz County Employees Credit Union and Watsonville Hospital Credit Union reported year-to-date losses as of Sept. (Sat, 20 Dec 2008 15:45:06 GMT)
Low Mortgage Rates May Mean Time To Refinance
If the interest rate on your current home mortgage is above 6.00 percent then you might be able to save thousands of dollars by refinancing your mortgage. That's because we are hitting record lows in home mortgage interest rates. (Sat, 20 Dec 2008 23:34:59 GMT)
George W Bush's car rescue may just be for Christmas
When George W Bush opens the remaining contents of his final White House Christmas postbag this week he should not be surprised if a card from Britain's Secretary of State for Business is not among the glad tidings. (Sun, 21 Dec 2008 00:01:02 GMT)
Personal finance: Reducing student loan debt
Two programs established by the College Cost Reduction and Access Act may help. (Sun, 21 Dec 2008 06:15:07 GMT)
Sanjay Nayar
Eight top bankers met at the Business Standard Round Table on November 18 in Mumbai to discuss the topic – Banking in Tough Times. The participants were Citi CEO for South Asia , Deutsche Bank India MD & CEO Gunit Chadha , HDFC Bank MD Aditya Puri , Central Bank of India Chairperson & MD H A Daruwala , State Bank India Chairman O P Bhatt , Bank of India Chairman & MD T S Narayanasami , ICICI ... (Sun, 21 Dec 2008 14:14:47 GMT)
Sanjay Nayar
Eight top bankers met at the Business Standard Round Table on November 18 in Mumbai to discuss the topic – Banking in Tough Times. The participants were Citi CEO for South Asia , Deutsche Bank India MD & CEO Gunit Chadha , HDFC Bank MD Aditya Puri , Central Bank of India Chairperson & MD H A Daruwala , State Bank India Chairman O P Bhatt , Bank of India Chairman & MD T S Narayanasami , ICICI ... (Sun, 21 Dec 2008 18:44:06 GMT)
EpiCept Announces Health Canada's Approval For Ceplene Filing For The Treatment Of Acute Myeloid Leukemia
EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) has announced that, at a recent pre-New Drug Submission (pre-NDS) meeting with representatives of Health Canada, it received permission to proceed with a New Drug Submission (NDS) filing for Ceplene® (histamine dihydrochloride) for the treatment of acute myeloid leukemia (AML) in Canada. (Mon, 22 Dec 2008 12:11:53 GMT)
OUTCOMES - FASB DECEMBER 17, 2008 BOARD MEETING
The Financial Accounting Standards Board (FASB) has released a summary of its December 17, 2008 Board meeting. (Mon, 22 Dec 2008 14:24:54 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Mon, 22 Dec 2008 15:02:10 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Tue, 23 Dec 2008 07:37:27 GMT)
(AFX UK Focus) 2008-12-23 09:56 WRAPUP 1-Hynix gets funds, Powerchip seeks help in chip crisis
By Rhee So-eui and Roger Tung (Tue, 23 Dec 2008 10:30:07 GMT)
WRAPUP 1-Hynix gets funds, Powerchip seeks help in chip crisis
* Hynix raises $600 mln in loans, equity (Tue, 23 Dec 2008 10:50:30 GMT)
RLPC-EMEA syndicated lending hits four-year low of $876 bln
Lending fell 45 percent from the record $1.6 trillion seen in 2007 as borrowing slowed throughout the year and ground to a halt after the collapse of Lehman Brothers in September. (Tue, 23 Dec 2008 13:46:15 GMT)
Local Bankers Offer Encouraging News at Chamber Forum
ELLSWORTH — Local bankers had encouraging news for 72 business owners and managers at the Ellsworth Area Chamber of Commerce’s Eggs and Issues meeting Tuesday at the Holiday Inn. (Tue, 23 Dec 2008 14:43:04 GMT)
Credit Solutions Is Now Serving Spanish-Speaking Clients
Credit Solutions has launched espanol.creditsolutions.com , a Spanish-language version of its Web site designed to extend the debt settlement industry leader’s reach by servicing what is now the largest U.S. minority group. 1 (Tue, 23 Dec 2008 15:41:15 GMT)
Hynix gets funds, Taiwan DRAM firms seek bailout
South Korea's Hynix Semiconductor secured $600 million in much needed funding, while Taiwan's Powerchip cut output further and applied for state aid in a deepening memory chip downturn. (Tue, 23 Dec 2008 16:03:36 GMT)
Hynix and Powerchip go after assistance
Memory chip makers are struggling to raise cash and cut production to survive the worst downturn the sector has ever experienced. (Tue, 23 Dec 2008 17:22:22 GMT)
Credit Solutions Is Now Serving Spanish-Speaking Clients
Credit Solutions has launched espanol.creditsolutions.com, a Spanish-language version of its Web site designed to extend the debt settlement industry leader’s reach by servicing what is now the largest U.S. minority group.1 (PRWeb Dec 23, 2008) Read the full story at http://www.prweb.com/releases/credit_solutions/speaking_clients/prweb1788784.htm (Tue, 23 Dec 2008 17:26:23 GMT)
FACTBOX-How Russian authorities are tackling economic crisis
MOSCOW, Dec 24 (Reuters) - Russia's Duma lower house of parliament on Wednesday passed more anti-crisis measures, extending the term of collateral-free loans and allowing the central bank to place observes in banks who receive state aide. (Wed, 24 Dec 2008 13:24:09 GMT)
FACTBOX-How Russian authorities are tackling economic crisis
MOSCOW, Dec 24 (Reuters) - Russia's Duma lower house of parliament on Wednesday passed more anti-crisis measures, extending the term of collateral-free loans and allowing the central bank to place observes in banks who receive state aide. (Wed, 24 Dec 2008 13:24:09 GMT)
Sneak Peek 2009: Financial Services
A look ahead into the coming year. (Wed, 24 Dec 2008 20:11:57 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Thu, 25 Dec 2008 01:39:24 GMT)
Nigeria: Akwa Ibom Budgets N195.3 Billion for 2009
Akwa Ibom Government plans to spend N195.31 billion for its services next financial year. This is N26.52 billion or 26.3 per cent lower than the N265.15 billion the government budgeted for this financial year. (Thu, 25 Dec 2008 11:02:30 GMT)
DUKES OF HAZARD
Soon, USTreasury auctions will be outright failures. Soon, the majority of rescues, bailouts, nationalizations, and stimulus packages will be financed via the printing press, with all the inglorious rancid effects of systemic inflation in the backwash. (Thu, 25 Dec 2008 19:39:35 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Fri, 26 Dec 2008 06:26:03 GMT)
Refinance your Home Loan and Get Extra Cash
When you decide to refinance a mortgage you’ll be canceling a previous loan with the money amount obtained from a second loan. (Fri, 26 Dec 2008 14:03:38 GMT)
The Refinancing Dilemma
For many homeowners, deciding whether to refinance their mortgages can be confusing, especially if they have had the loan long enough to start significantly diminishing their debt. (Sat, 27 Dec 2008 06:18:02 GMT)
The Refinancing Dilemma
For many homeowners, deciding whether to refinance their mortgages can be confusing, especially if they have had the loan long enough to start significantly diminishing their debt. (Sat, 27 Dec 2008 07:11:19 GMT)
Mechanics Bank not burdened with subprime loans
Steven Buster presides over Mechanics Bank, a 103-year-old institution that has been relatively unscathed by the collapse of the credit bubble that has plunged the financial industry and the nation into its worst crisis since the Great Depression. Even so,... (Sat, 27 Dec 2008 08:51:17 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Sat, 27 Dec 2008 15:09:23 GMT)
After a year of shocks prepare for more in 2009
It's that time of year when business journalists feel compelled to gaze into their crystal balls and prophesy the events of the next 12 months writes Mark Kleinman. (Sat, 27 Dec 2008 21:13:47 GMT)
After a year of shocks prepare for more in 2009
Mark Kleinman sticks his neck out to make some bold predictions for the coming year. (Sat, 27 Dec 2008 22:10:58 GMT)
Govt Budgets N195bn for 2009
Akwa Ibom State Government has budgeted N195.31 billion for its services in the next financial year. The budget shows a deficit of N26.52 billion or 26.3 per cent against N265.15 billion the government earmarked for the financial year. (Sun, 28 Dec 2008 04:49:30 GMT)
Mortgage applications rise as rates fall
Tim Kauffman said he has been considering refinancing his home on the south side of Lafayette for awhile. (Sun, 28 Dec 2008 07:06:52 GMT)
Consolidation loan Information
You can get a debt consolidation loan irrespective of the type of outstanding loans - secured or unsecured. When you take a debt consolidation loan, you pay a lower rate of interest in almost all your previous debts. (Sun, 28 Dec 2008 08:03:15 GMT)
Jenn Hoskins: architect of the recession
When Jenn Hoskins worked as a subprime lender, she spent her days in a Herndon call center, fielding inquiries from people who had received tantalizing offers to get cash back by refinancing their homes for up to 125 percent of their homes’ value. (Mon, 29 Dec 2008 05:08:19 GMT)
Taiwan to Lift Short-Sale Restrictions on 150 Stocks (Update2)
Dec. 29 (Bloomberg) -- Taiwan will lift restrictions on short-selling of 150 stocks after the island’s new regulatory chief deemed a ban imposed by his predecessor no longer necessary. (Mon, 29 Dec 2008 08:15:42 GMT)
Taiwan to Lift Short-Sale Restrictions on 150 Stocks (Update2)
Dec. 29 (Bloomberg) -- Taiwan will lift restrictions on short-selling of 150 stocks after the island’s new regulatory chief deemed a ban imposed by his predecessor no longer necessary. (Mon, 29 Dec 2008 08:22:30 GMT)
Nigeria: Govt Budgets N195 Billion for 2009
Lagos — Akwa Ibom State Government has budgeted N195.31 billion for its services in the next financial year. The budget shows a deficit of N26.52 billion or 26.3 per cent against N265.15 billion the government earmarked for the financial year. (Mon, 29 Dec 2008 09:42:08 GMT)
Are you a bull or a bear?
The surge of almost 13 per cent in the FTSE All Share Index in one week in late November was the biggest weekly rise in that index since December 1976 (when it rose close to 19 per cent). (Mon, 29 Dec 2008 11:49:00 GMT)
The Business of Florida Real Estate: Timely Information, Trusted Analysis and Valuable Resources Online
MIAMI-Limited debt availability and declining property values will cause the South Florida commercial real estate market to continue its downward trajectory, at least for the first two quarters of 2009, according to local experts. (Mon, 29 Dec 2008 12:30:57 GMT)
Play safe
As uncertainties prevail and a revival expected only post second quarter of 2009, it will pay to focus on large cap companies with a proven track record, high earnings visibility and low leverage. (Mon, 29 Dec 2008 14:47:30 GMT)
Year Stained By Insolvency
Use the above link to subscribe to the paid research reports, which include coverage of several smallcap companies positioned to rise during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces. (Mon, 29 Dec 2008 18:31:39 GMT)
Oil earnings to help UAE ride out crisis
30 December 2008 The massive mid-year surge in oil prices has created a fiscal buffer for the UAE in 2009, while a quick Central Bank response to the credit freeze has placed the country's banking sector in a strong position. (Tue, 30 Dec 2008 08:22:02 GMT)
UPDATE 2-Gazprom refinances part of debt, borrows more
MOSCOW, Dec 30 (Reuters) - Russia's Gazprom said it had refinanced part of its foreign debt and increased its overall borrowing with a further loan, adding it could not gauge any further impact of the liquidity crisis on its operations. (Tue, 30 Dec 2008 11:24:42 GMT)
(AFX UK Focus) 2008-12-30 11:02 UPDATE 2-Gazprom refinances part of debt, borrows more
MOSCOW, Dec 30 (Reuters) - Russia's Gazprom said it had refinanced part of its foreign debt and increased its overall borrowing with a further loan, adding it could not gauge any further impact of the liquidity crisis on its operations. Gazprom, which on Tuesday also reported second-quarter results, said it borrowed $153 million from Russia's Vneshekonombank (VEB) in December to refinance a part ... (Tue, 30 Dec 2008 11:29:58 GMT)
(AFX UK Focus) 2008-12-30 11:02 UPDATE 2-Gazprom refinances part of debt, borrows more
MOSCOW, Dec 30 (Reuters) - Russia's Gazprom said it had refinanced part of its foreign debt and increased its overall borrowing with a further loan, adding it could not gauge any further impact of the liquidity crisis on its operations. Gazprom, which on Tuesday also reported second-quarter results, said it borrowed $153 million from Russia's Vneshekonombank (VEB) in December to refinance a part ... (Tue, 30 Dec 2008 11:30:18 GMT)
Play safe
As uncertainties prevail and a revival expected only post second quarter of 2009, it will pay to focus on large cap companies with a proven track record, high earnings visibility and low leverage. (Tue, 30 Dec 2008 14:00:58 GMT)
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