Debt Consolidation News Feb 2009
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Wealth Check: He left the stupid club but debt still dogs him
The patient Paul Shannon, 26, is determined to put his finances in order after finding himself trapped in spiralling debt. "Six years ago I took out a loan for £7,000 to consolidate debt on three credit cards and five store cards," he explains. "And I had difficulty paying this off, as every time I came close to wiping it out, I was tempted by offers to increase the loan amount." (Sun, 01 Feb 2009 00:28:59 GMT)
O'Brien: No one will like park's full contract
Several months behind schedule, negotiations for the Community Maritime Park may be drawing closer to a real deal. (Sun, 01 Feb 2009 06:59:45 GMT)
High-APR Borrowers Could Save Money by Switching Loans
Following a report suggesting that Britons are paying a total of £98bn in interest on loans and other forms of credit each year, financial solutions company Think Money have advised borrowers to consider whether they could save money by switching to lower-APR forms of credit such as a consolidation loan. (Sun, 01 Feb 2009 07:01:00 GMT)
More Canadians refinancing mortgages to pay off other debts
VANCOUVER, B.C. - Record low interest rates are spurring more Canadians to refinance mortgages to consolidate debt, a trend that is expected to grow as Ottawa moves to loosen lending conditions and encourage spending on housing. (Mon, 02 Feb 2009 05:12:52 GMT)
EpiCept Receives Permission to File Ceplene® NDA
Regulatory News: EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) announced today that the U.S. Food and Drug Administration ... (Mon, 02 Feb 2009 05:15:52 GMT)
Ford’s Worst Year May Signal Industry Need for More U.S. Aid
Feb. 2 (Bloomberg) -- Ford Motor Co. ’s biggest annual loss in its 105-year history may herald tougher times for struggling U.S. automakers being propped up by the federal government. (Mon, 02 Feb 2009 06:16:11 GMT)
Russia in outer darkness
MOSCOW - In outer space, as everyone knows, the absence of the force of gravity produces the appearance of weightlessness. Everything floats away. The markets have decided that Russia is now without gravity; its equities are without weight, and at risk of floating away. (Mon, 02 Feb 2009 10:13:50 GMT)
Community Partners Bancorp Reports 2008 Results
Community Partners Bancorp, parent company of Two River Community Bank, today announced consolidated earnings for the quarter and year ended December 31, 2008. The company reported net income of $798,000, or $0.11 per fully diluted share in 2008 compared with net income in 2007 of $3.65 million, or $0.51 per fully diluted share. (Mon, 02 Feb 2009 13:30:00 GMT)
Angelo, Gordon & Co.'s Net Lease Group Completes $14 Million Sale-Leaseback with Stampede Meat
NEW YORK----Angelo, Gordon & Co.'s dedicated Net Lease Group announced today that it acquired the headquarters and principal processing and distribution facility of Stampede Meat, Inc. , located in Bridgeview, IL , for $14 million. (Mon, 02 Feb 2009 14:00:00 GMT)
Ford Loss May Signal Industry Need for More U.S. Aid (Update2)
Feb. 2 (Bloomberg) -- Ford Motor Co. ’s biggest annual loss in its 105-year history may herald tougher times for struggling U.S. automakers being propped up by the federal government. (Mon, 02 Feb 2009 22:18:26 GMT)
Coachmen Industries, Inc. Housing Group Profitable for 2008, Despite Consolidated Loss for Fourth Quarter
Coachmen Industries, Inc. today announced its financial results for the fourth quarter and full year ended Dec. 31, 2008. (Mon, 02 Feb 2009 22:50:00 GMT)
Jeremy Warner: Unpopular Tarp gets Obama treatment
Like everything else devised by the Bush administration, the $700bn Troubled Asset Relief Programme (Tarp) for bailing out the US banking system is being rethought. (Tue, 03 Feb 2009 00:54:35 GMT)
Borrowers get precious little help from their flexible friends
For anyone thinking of adding to their existing loan and credit card debts to help make ends meet in the short term, now would be the time to reconsider. Credit card and loan companies are upping their interest rates, making it more expensive to borrow from them. Last week Capital One announced it is to hike up the rate on existing customers' credit cards by up to 7% from April, leaving ... (Tue, 03 Feb 2009 08:16:26 GMT)
THE BOGEYMAN: What economic collapse means to BSU students
The economy is in the midst of a downward spiral or, to use less deceptive terminology, severe contraction. (Tue, 03 Feb 2009 09:11:30 GMT)
EpiCept Receives Permission To File Ceplene(R) NDA
EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) announced today that the U.S. Food and Drug Administration (FDA) indicated that the Company has the necessary pivotal data to file a New Drug Application (NDA) for Ceplene® (histamine dihydrochloride) in conjunction with interleukin-2 (IL-2) as a remission maintenance treatment of acute myeloid leukemia (AML). (Tue, 03 Feb 2009 11:13:10 GMT)
First BanCorp Reports Earnings for the Year and Quarter Ended December 31, 2008
SAN JUAN, Puerto Rico----First BanCorp today reported net income for the year ended December 31, 2008 of $109.9 million, an increase of 61% from $68.1 million a year earlier. Diluted earnings per common share increased to $0.75 from $0.32 in 2007, an increase of 134%. (Tue, 03 Feb 2009 12:00:00 GMT)
Banks to prosper as rivals exit
THE banks are entering an era of renewed market domination, given the reduced competition from non-bank lenders and the retreat of troubled foreign rivals. (Tue, 03 Feb 2009 13:00:00 GMT)
Consolidated Results Overview - Lower revenues and higher net credit costs led to net loss - Improved Individual Group ...
Tokyo, Feb 3, 2009 - (JCN Newswire) - Shinsei Bank, Limited, today announced a consolidated cash basis* net loss of 23.3 billion yen (consolidated reported basis net loss of 32.1 billion yen) for the first nine months ended December 31, 2008, of fiscal year 2008, compared to a consolidated cash basis* net income of 42.0 billion yen (consolidated reported basis net income of 33.5 billion yen) ... (Tue, 03 Feb 2009 13:49:58 GMT)
Russia PM Putin says welcomes banks' consolidation
(Adds Putin quotes, background) (Tue, 03 Feb 2009 18:28:35 GMT)
(AFX UK Focus) 2009-02-03 18:44 UPDATE 1-Russia PM Putin says welcomes banks' consolidation
MOSCOW, Feb 3 (Reuters) - Russia's government needs to encourage consolidation of its fragmented banking sector and consider ways to help banks increase their capital, Prime Minister Vladimir Putin said on Tuesday. "In order to increase competitiveness we need to encourage banking sector's consolidation," Putin told a cabinet meeting, which will review further measures to help Russia's ... (Tue, 03 Feb 2009 19:05:57 GMT)
Silgan Announces Record Earnings for Both Full Year and Fourth Quarter 2008; Anticipates Further Earnings Growth in 2009
STAMFORD, Conn.----Silgan Holdings Inc. , a leading supplier of consumer goods packaging products, today reported record full year 2008 net income of $131.6 million, or $3.44 per diluted share, as compared to full year 2007 net income of $122.8 million, or $3.22 per diluted share. (Tue, 03 Feb 2009 21:30:00 GMT)
(AFX UK Focus) 2009-02-04 00:49 Taiwan stocks - Factors to watch - Feb 4
TAIPEI, Feb 4 (Reuters) - Here are news stories and press reports that may affect the Taiwan stock market on Wednesday. (Wed, 04 Feb 2009 01:19:11 GMT)
(AFX UK Focus) 2009-02-04 02:50 Taiwan stocks hit 3-week high, Powerchip gains
TAIPEI, Feb 4 (Reuters) - Taiwan stocks rose for a third day on Wednesday to a three-week intraday high, as DRAM makers Powerchip and ProMOS continued their rally amid hopes of a sector consolidation. (Wed, 04 Feb 2009 03:18:41 GMT)
‘Failed’ Wall Street Means Biggest Rules Rewrite Since 1930s
Feb. 4 (Bloomberg) -- Camden Fine’s nightmare is a Bank of America or Citibank branch on every corner. (Wed, 04 Feb 2009 05:01:00 GMT)
RESEARCH ALERT-Goldman Sachs ups target price for Powerchip
TAIPEI, Feb 4 (Reuters) - Goldman Sachs on Wednesday raised its target price for Powerchip , Taiwan's top DRAM company, citing easing financing concerns as it could follow a similar path as ProMOS to secure loans. (Wed, 04 Feb 2009 05:07:51 GMT)
RESEARCH ALERT-Goldman Sachs ups target price for Powerchip
TAIPEI, Feb 4 (Reuters) - Goldman Sachs on Wednesday raised its target price for Powerchip , Taiwan's top DRAM company, citing easing financing concerns as it could follow a similar path as ProMOS to secure loans. (Wed, 04 Feb 2009 05:07:51 GMT)
Lazard Ltd Reports Full-Year and Fourth-Quarter 2008 Results
NEW YORK----Lazard Ltd today announced financial results for the full year and fourth quarter ended December 31, 2008. Net income on a fully exchanged basis, excluding the third-quarter 2008, after-tax, LAM equity charge, was $205.9 million or $1.72 per share , for the full year of 2008, excluding provisions during the third quarter for losses from counterparty defaults of $12.4 million , or ... (Wed, 04 Feb 2009 12:00:00 GMT)
‘Failed’ Wall Street Means Biggest Rules Rewrite Since 1930s
Feb. 4 (Bloomberg) -- Camden Fine ’s nightmare is a Bank of America or Citibank branch on every corner. “Do we really want to create more cycloptic monsters stomping around the country ruining people’s lives?” asks Fine, president of the Independent Community Bankers of America . He says he fears new U.S. financial regulation might include a merger of agencies favoring big banks over his 5,000 ... (Wed, 04 Feb 2009 12:04:02 GMT)
Clorox Reports Q2 Results and Updates Fiscal 2009 Outlook
OAKLAND, Calif.----The Clorox Company today reported solid earnings for its second quarter, which ended Dec. 31. (Wed, 04 Feb 2009 13:30:00 GMT)
Five things to consider before declaring personal bankruptcy
It's important to know what you're getting into before throwing in the towel (Wed, 04 Feb 2009 16:13:29 GMT)
‘Failed’ Wall Street Forces Biggest Rewrite of Rules (Correct)
(Corrects name of Commodity Futures Trading Commission in seventh paragraph.) (Wed, 04 Feb 2009 16:35:06 GMT)
‘Failed’ Wall Street Forces Biggest Rewrite of Rules
Feb. 4 (Bloomberg) -- Camden Fine’s nightmare is a Bank of America or Citibank branch on every corner. (Wed, 04 Feb 2009 17:55:29 GMT)
‘Failed’ Wall Street Forces Biggest Rewrite of Rules (Correct)
(Corrects name of Commodity Futures Trading Commission in seventh paragraph.) Feb. 4 (Bloomberg) -- Camden Fine ’s nightmare is a Bank of America or Citibank branch on every corner. (Wed, 04 Feb 2009 18:04:02 GMT)
‘Failed’ Wall Street Forces Biggest Rewrite of Rules (Update1)
Feb. 4 (Bloomberg) -- Camden Fine ’s nightmare is a Bank of America or Citibank branch on every corner. “Do we really want to create more cycloptic monsters stomping around the country ruining people’s lives?” asks Fine, president of the Independent Community Bankers of America . He says he fears new U.S. financial regulation might include a merger of agencies favoring big banks over his 5,000 ... (Wed, 04 Feb 2009 22:34:12 GMT)
Husky Energy Announces 2008 Fourth Quarter Dividend
Husky Energy Inc. is pleased to announce 2008 net earnings of $3.8 billion or $4.42 per share, an increase of 17 percent from $3.2 billion or $3.79 per share in 2007. Cash flow from operations increased to $6.0 billion or $7.03 per share in 2008, a 10 percent increase compared with $5.4 billion or $6.39 per share in 2007. (Thu, 05 Feb 2009 02:22:00 GMT)
Hynix Posts 5th Straight Quarterly Loss on Chip Glut (Update2)
Feb. 5 (Bloomberg) -- Hynix Semiconductor Inc. , the world’s second-largest maker of computer-memory chips, reported its fifth straight quarterly loss as the worsening global recession drove down prices. (Thu, 05 Feb 2009 03:51:08 GMT)
Get financial help before its too late says Parsons
Rob Parsons and his daughter Katie Clarke have teamed up in a new book advising people to seek financial help with their debt before its too late (Thu, 05 Feb 2009 08:36:36 GMT)
In debt? Take a leaf out of this new book
CELEBRITIES who advertise consolidation loans – such as Wales’ Carol Vorderman – have been urged to think again in a new book. (Thu, 05 Feb 2009 09:07:21 GMT)
What to know before you refinance
Ready to refi? Crunch these numbers before applying for and choosing your new mortgage. (Thu, 05 Feb 2009 11:00:00 GMT)
Deutsche Bank reports net loss of EUR 3.9 billion for 2008
Deutsche Bank reported unaudited figures for the fourth quarter and full year 2008 in line with its pre-announcement on 14 January 2009. For the full year 2008, the bank reported a net loss of EUR 3.9 (Fri, 06 Feb 2009 02:51:08 GMT)
Centerra Gold Reports Record Fourth Quarter Production at Kumtor; Fourth Quarter Earnings of $0.20 per Share
Centerra Gold Inc. - (Fri, 06 Feb 2009 13:00:00 GMT)
Centerra Gold Reports Record Fourth Quarter Production at Kumtor; Fourth Quarter Earnings of $0.20 per Share
TORONTO, ONTARIO-- - Centerra Gold Inc. - (Fri, 06 Feb 2009 13:00:07 GMT)
Bad debts spiral amid shockwave fears
The nation's biggest banks have warned shock waves are spreading into most reaches of the economy at a faster-than-expected pace. (Fri, 06 Feb 2009 13:03:30 GMT)
Bad loans reach an 18-year high
THE nation's biggest banks have warned shockwaves are spreading into most reaches of the economy more quickly than expected and lenders such as National Australia Bank are facing a bad debt charge in excess of $3 billion if losses continue at the current rate. (Fri, 06 Feb 2009 13:15:51 GMT)
Bad loans reach an 18-year high
THE nation's biggest banks have warned shockwaves are spreading into most reaches of the economy more quickly than expected and lenders such as National Australia Bank are facing a bad debt charge in excess of $3 billion if losses continue at the current rate. (Fri, 06 Feb 2009 13:16:11 GMT)
'I've never owed a penny to anyone in my life, but I'm losing everything'
The proceedings last little more than a couple of minutes and are about as arduous as a consultation with an understanding GP. (Sat, 07 Feb 2009 00:08:01 GMT)
Underwater in a Big Way
Few deals better exemplify the excesses of the commercial real estate boom than the dismemberment of the Equity Office empire. (Sat, 07 Feb 2009 02:32:38 GMT)
Dark clouds loom for Valley's commercial real estate
Billions of dollars are set to mature with little hope of refinancing for those whose equity slipped away. (Sun, 08 Feb 2009 01:01:30 GMT)
Property deal of the century leaves buyers underwater
Few deals better exemplify the excesses of the real estate boom than the Equity Office empire's dismemberment. (Sun, 08 Feb 2009 09:47:08 GMT)
MSU to limit student credit solicitations
Amid growing national scrutiny over credit card companies aggressively marketing to financially naive college students, Michigan State University will no longer provide student information to Bank of America to solicit undergraduates for credit cards. (Mon, 09 Feb 2009 06:24:04 GMT)
Sam Zell’s Empire, Underwater in a Big Way
It was, for a brief shining moment, the real estate deal of the century. In 2007, Sam Zell, the billionaire Chicago investor, sold a portfolio of 573 properties he had assembled over three decades, Equity Office Properties Trust , to the Blackstone Group for $39 billion. (Mon, 09 Feb 2009 11:24:37 GMT)
Toromont Announces Record Results for the Full Year and Fourth Quarter of 2008
Toromont Industries Ltd. today reported record annual financial results for 2008. Revenues increased 12% compared to 2007, representing the 16th consecutive year of growth from continuing operations. (Mon, 09 Feb 2009 16:37:00 GMT)
Dark clouds loom for commercial real estate
Billions of dollars are set to mature with little hope of refinancing for those whose equity slipped away. (Mon, 09 Feb 2009 17:28:06 GMT)
Brightpoint Reports Fourth Quarter and Year End 2008 Financial Results
INDIANAPOLIS, Feb. 9, 2009 -- Brightpoint, Inc. reported its financial results for the fourth quarter and year ended December 31, 2008. Unless otherwise noted, amounts pertain to the fourth quarter of 2008. (Mon, 09 Feb 2009 22:01:00 GMT)
Payment options: Ways for families to get out of debt
By now you might be realizing that your New Year's resolution to tackle and manage your debt for 2009 isn't working as you planned. It's February, and you are still paying off your Christmas bills. (Tue, 10 Feb 2009 05:38:59 GMT)
Searching for Debt Consolidation
America is under a deep recession and many people are using Internet to get information about topics related to their specific problems. One of the top keyphrases in search engines like Google, Yahoo, MSN, and AOL is debt consolidation. (Tue, 10 Feb 2009 08:26:25 GMT)
Nigeria: Budget - Ministers Will Be Responsible for Non-Performance - Babalola
Minister of State for Finance Mr. Remi Babalola, explains the new monetary and fiscal focus that would sail the country through the deepening global financial crisis, saying that the country's capital market problem would be solved with a shift from the monetary to liquidity apporoach; the 2009 budget deficit would be partly financed with $500 million ICM loan; Nigeria has one of the lowest debt ... (Tue, 10 Feb 2009 09:13:28 GMT)
UAE has reserves to tackle any liquidity shock
10 February 2009 2008 will probably be remembered as the most eventful year in the modern history of financial services; global markets experienced a once in a generation meltdown. (Tue, 10 Feb 2009 09:49:59 GMT)
Nigeria: Budget - Ministers Will Be Responsible for Non-Performance - Babalola
Abuja — Minister of State for Finance Mr. Remi Babalola , explains the new monetary and fiscal focus that would sail the country through the deepening global financial crisis, saying that the country's capital market problem would be solved with a shift from the monetary to liquidity apporoach; the 2009 budget deficit would be partly financed with $500 million ICM loan; Nigeria has one of the ... (Tue, 10 Feb 2009 09:56:40 GMT)
EU struggles for common line on credit crisis
The Czech EU presidency accused an inner circle of euro zone countries on Tuesday of breaking bloc rules to shield their economies from recession as the group struggles for a common line on tackling the crisis. (Tue, 10 Feb 2009 15:46:00 GMT)
CA-BUSINESS Summary
OTTAWA (Reuters) - The Bank of Canada has plenty of flexibility to cut rates and expand liquidity operations if needed, but it expects a U.S. bank stabilization plan to mark the gradual return of confidence to the global financial system, Governor Mark Carney said on Tuesday. (Tue, 10 Feb 2009 20:04:09 GMT)
CA-BUSINESS Summary
OTTAWA (Reuters) - The Bank of Canada has plenty of flexibility to cut rates and expand liquidity operations if needed, but it expects a U.S. bank stabilization plan to mark the gradual return of confidence to the global financial system, Governor Mark Carney said on Tuesday. (Tue, 10 Feb 2009 20:19:18 GMT)
CA-BUSINESS Summary
TORONTO (Reuters) - Toronto's main stock index fell on Tuesday, breaking a five-day streak of gains, as energy and financial issues sank on skepticism about whether the U.S. bad-debt plan will be sufficient to bring health back to the U.S. financial system. (Tue, 10 Feb 2009 21:49:23 GMT)
CA-BUSINESS Summary
TORONTO (Reuters) - Toronto's main stock index fell on Tuesday, breaking a five-day streak of gains, as energy and financial issues sank on skepticism about whether the U.S. bad-debt plan, released on Tuesday, will be sufficient to bring health back to that country's financial system. (Tue, 10 Feb 2009 22:19:08 GMT)
Programs to Forgive Teachers' Loans
There are several government programs that will forgive all or part of borrowers' loans if they teach in the nonprofit or public sector. (Wed, 11 Feb 2009 02:59:46 GMT)
Westamerica has history of prudent decisions
The owner of now defunct County Bank, Westamerica Bancorporation, shares much in common with its recent acquisition. (Wed, 11 Feb 2009 09:13:13 GMT)
Gildan Activewear Announces First Quarter Results Within Guidance Range and Suspends EPS Guidance for Full Fiscal Year
Gildan Activewear Inc. today announced its financial results for the first quarter of its 2009 fiscal year, and suspended its EPS guidance for the full fiscal year, which it had initiated on December 11, 2008, due to increasing uncertainty about macro-economic conditions and the potential impact of the economic and financial crisis on Gildan's served markets and customer base. (Wed, 11 Feb 2009 21:32:00 GMT)
TSX Venture Exchange Daily Bulletins for February 11, 2009
VANCOUVER, BRITISH COLUMBIA-- - (Wed, 11 Feb 2009 23:35:04 GMT)
Key facts about Allied Irish Banks
(Reuters) - Ireland announced on Wednesday an enhanced rescue plan for its two main lenders -- Allied Irish Banks and Bank of Ireland. (Thu, 12 Feb 2009 00:30:00 GMT)
FACTBOX-Key facts about Allied Irish Banks
Feb 11 (Reuters) - Ireland announced on Wednesday an enhanced rescue plan for its two main lenders -- Allied Irish Banks and Bank of Ireland. Here are some facts about Allied Irish Banks, the country's largest bank by market value. (Thu, 12 Feb 2009 00:32:16 GMT)
Renault falls to net loss in 2H
France's Renault SA said Thursday it fell to a euro982 million net loss in the second half of 2008 and expects the outlook to darken further this year as the economic crisis continues to ravage car sales. (Thu, 12 Feb 2009 08:33:33 GMT)
Renault posts 2nd-half net loss as auto sales down
(AP:PARIS) France's Renault SA said Thursday it fell to a euro982 million ($1.27 billion) net loss in the second half of 2008 and expects the outlook to darken further as the economic crisis ravages car sales. (Thu, 12 Feb 2009 11:18:01 GMT)
Nigeria: Global Financial Crisis - Banks Walk a Tight Rope
The unfolding scenario, brought about by the global economic crisis is beginning to give some bankers cause for worry. Some are beginning to think that year 2009, could be one difficult one except the economic environment change for good and this is not for nothing. (Thu, 12 Feb 2009 12:08:44 GMT)
Renault posts second-half net loss as auto sales down
PARIS -- France's Renault SA said Thursday it fell to a 982 million euro ($1.27 billion) net loss in the second half of 2008 and expects the outlook to darken further as the economic crisis ravages car sales. (Thu, 12 Feb 2009 12:15:24 GMT)
"Great Recession" seen lasting 3 years, experts say
The current recession will last at least three years and possibly longer absent a revival in credit markets, according to investors who specialize in distressed debt and bankruptcy. (Thu, 12 Feb 2009 14:53:08 GMT)
"Great Recession" seen lasting 3 years, experts say
By Walden Siew (Thu, 12 Feb 2009 14:53:08 GMT)
"Great Recession" seen lasting 3 years, experts say
By Walden Siew (Thu, 12 Feb 2009 14:53:08 GMT)
Great Recession may last 3 years: Experts
NEW YORK: The current recession will last at least three years and possibly longer in the absence of a revival in credit markets, according to investors who specialize in distressed debt and bankruptcy. (Thu, 12 Feb 2009 16:26:06 GMT)
CANADIAN ACCOUNTING STANDARDS BOARD FEBRUARY DECISION SUMMARY
The Canadian Accounting Standards Board (AcSB) met on February 3, 2009 and discussed a number of issues including: International Activities; Economic Environment; Private Enterprises Strategy; Publicly Accountable Enterprises Strategy; Consolidated Financial Statements; and more.... (Thu, 12 Feb 2009 19:04:56 GMT)
Great Recession likely to last three years: experts
NEW YORK: The current recession will last at least three years and possibly longer absent a revival in credit markets, according to investors who specialise in distressed debt and bankruptcy. (Thu, 12 Feb 2009 20:53:26 GMT)
SES Delivers Another Year of Solid Growth in 2008
LUXEMBOURG----SES S.A., the pre-eminent satellite operator worldwide , reports financial results for the twelve months ended 31 December 2008. (Fri, 13 Feb 2009 07:00:00 GMT)
Lloyd's of London's collapse has lessons for today's crisis
During the 1980s the capacity of the Lloyd's insurance market grew rapidly as did the number of its members - yet the global insurance and reinsurance industry did not achieve the same level of growth. (Fri, 13 Feb 2009 15:57:26 GMT)
Lenders Frustrate Homeowners' Efforts to Renegotiate Mortgages
While the federal government has been encouraging mortgage lenders to institute and expand mortgage loan modification programs to help distressed homeowners avoid foreclosure, Think Debt Relief says homeowners are encountering so many roadblocks in their attempts to actually modify their mortgages, many are losing their homes anyway. (Fri, 13 Feb 2009 18:28:00 GMT)
Last year’s lop revives hedge funds
Will this year be as grim as last year for hedge fund managers in the City? The optimists say no. Amid falling markets and a wave of redemptions, 2008 saw hedge funds report their worst-ever performance since their creation in the 1950s. But since the start of this year, they have turned a corner. (Fri, 13 Feb 2009 19:17:47 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - Americans are dealing with the credit crunch by keeping cash on hand. In the process, however, the average consumer is paying 2.6 bills late every month, according to the Western Union Payment Services Money Mindset Index. (Sat, 14 Feb 2009 07:42:58 GMT)
International Forecaster February 2009 (#4) - Gold, Silver, Economy + More
The following are some snippets from the most recent issue of the International Forecaster. For the full 30 page issue, please see subscription information below. (Sun, 15 Feb 2009 01:19:42 GMT)
Highlights of the Interim Budget
Presenting the interim Budget for 2009-10 in Lok Sabha, acting Finance Minister Pranab Mukherjee claimed in Parliament on Monday that every effort has been made to fulfil promises made to the common man. (Mon, 16 Feb 2009 06:22:19 GMT)
Budget Speech
External Affairs Minister Pranab Mukherjee, who is also managing the finance ministry, presented the Interim Budget for 2009-10 in Parliament on Monday. Following is the text of the entire Budget Speech: (Mon, 16 Feb 2009 07:37:42 GMT)
Full Text, Budget speech 2009-2010, part 2
Mr. Speaker, Sir, I now turn to the outlook for the current year and the events that have impacted its prospects. 13. (Mon, 16 Feb 2009 07:46:49 GMT)
Air Liquide Fiscal-year Net Profit Up 9%, Sees Growth In '09
Air Liquide Fiscal-year Net Profit Up 9%, Sees Growth In '09 (Mon, 16 Feb 2009 07:55:48 GMT)
Acting finance minister Pranab Mukherjee said tax rates must fall and our ability to pay taxes must rise. No new ...
In his budget speech, the acting finance minister, Pranab Mukherjee said, “In the days of financial stress, tax rates must fall and our ability to pay taxes must rise. (Mon, 16 Feb 2009 08:03:29 GMT)
Fiscal policy
External Affiars and Finance Minister Pranab Mukherjee on Monday said the government cannot indulge in 'reckless borrowing' and did not have Parliamentary mandate to tweak taxes. (Mon, 16 Feb 2009 08:21:00 GMT)
Highlights of Interim Budget 2009
INTRODUCTION The Gross Domestic Product increased by 7.5 per cent, 9.5 per cent, 9.7 percent and 9 per cent in the first four years from fiscal year 2004-05 to 2007-08 recording a sustained growth of over 9 per cent for three consecutive years for the first time. (Mon, 16 Feb 2009 09:32:48 GMT)
India to Borrow Record 3.62 Trillion Rupees in FY10 (Update2)
Feb. 16 (Bloomberg) -- India plans to raise a record 3.62 trillion rupees ($74 billion) selling bonds in the fiscal year that starts April 1 as it spends more to counter the impact of the biggest global slump since the Great Depression. (Mon, 16 Feb 2009 09:35:21 GMT)
Interim Budget 2009 Speech
Read the entire text of Pranab Mukherjee's Interim Budget speech. 1. I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. (Mon, 16 Feb 2009 14:47:59 GMT)
Obama's auto adviser has Wall Street, labor ties
WASHINGTON -- Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General... (Mon, 16 Feb 2009 22:59:57 GMT)
Adviser has Wall Street and labour ties, penchant for out-of-the-box solutions
WASHINGTON - Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labour unions, and a penchant for out-of-the-box solutions to the U.S. government-led restructuring of General Motors and Chrysler. (Tue, 17 Feb 2009 00:22:00 GMT)
Adviser has Wall Street and labour ties, penchant for out-of-the-box solutions
WASHINGTON - Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to (Tue, 17 Feb 2009 00:42:53 GMT)
Obama's auto adviser has Wall Street, labor ties
Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General Motors and Chrysler. (Tue, 17 Feb 2009 00:45:05 GMT)
Australia braces for hard landing as best customer free-falls
MELBOURNE, Feb 17 – Australia’s biggest and most reliable customer, Japan, has plunged into depression, with federal Treasurer Wayne Swan now warning of the worst global downturn “in our lifetimes”. Japan’s economy shrank an annualised 12.7 per cent over the December quarter, its worst result since the 1974 oil shock. Japan is by far Australia’s biggest export customer, accounting for one ... (Tue, 17 Feb 2009 00:50:54 GMT)
Interim Budget 2009 Speech
Read the entire text of Pranab Mukherjee's Interim Budget speech. 1. I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. (Tue, 17 Feb 2009 02:22:54 GMT)
Chrysler, GM to outline bailout repayment plans
Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the-box solutions to the government-led restructuring of General Motors and Chrysler. Bloom, a former investment banker who has worked with the United Steelworkers union since 1996, will be a top adviser to Treasury ... (Tue, 17 Feb 2009 02:37:26 GMT)
Auto adviser has broad perspective
Ron Bloom, a key adviser to President Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General Motors and Chrysler. Bloom, a former investment banker who has worked with the United Steelworkers union since 1996, will serve as a top adviser to Treasury ... (Tue, 17 Feb 2009 07:10:33 GMT)
Bloomer to drive auto industry restructuring
WASHINGTON — Those who know Ron Bloom say the key adviser to President Barack Obama's new auto industry task force brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General Motors and Chrysler. (Tue, 17 Feb 2009 09:57:13 GMT)
4 Industries Hiring New Workers in the Crisis
17 February 2009 By Ira Iosebashvili / The Moscow Times Stanislav Shevchenko, head of the antivirus division at Kaspersky Labs, is a busy man these days. (Tue, 17 Feb 2009 10:51:43 GMT)
Savings Still Important, Despite Base Rate Cuts
Responding to new figures from the Bank of England showing that the most common types of savings accounts now offer the lowest rates on record, debt management company Gregory Pennington has advised consumers that savings should still be a very important aspect of most people's finances, and added that they should not be discouraged by low interest rates. (Tue, 17 Feb 2009 12:49:00 GMT)
Obama's auto adviser has Wall Street, labor ties
WASHINGTON - Ron Bloom, a key adviser to President Barack Obama's new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General Mo (Tue, 17 Feb 2009 13:03:22 GMT)
Interim Budget 2009 Speech
Read the entire text of Pranab Mukherjee's Interim Budget speech. 1. I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. (Tue, 17 Feb 2009 14:37:58 GMT)
The Secret to Becoming Debt Free
The uncertain economy is affecting everyone. Whether you have bills piling up, mounting credit card debt or are facing foreclosure or bankruptcy, don't worry. There are solutions to help relieve the burden of your debt. (Tue, 17 Feb 2009 16:09:28 GMT)
Obamas auto adviser has Wall Street, W.Va. ties
WASHINGTON -- Ron Bloom, a key adviser to President Barack Obamas new auto industry task force, brings a combination of Wall Street savvy, ties to labor unions, and a penchant for out-of-the box solutions to the government-led restructuring of General Moto... (Tue, 17 Feb 2009 16:57:24 GMT)
GM, Chrysler announce thousands of job cuts
General Motors will cut 47,000 jobs and may need up to US$30 billion to survive, while Chrysler is shedding 3,000 jobs and three vehicle models, in U.S. restructuring plans that hint at similar action north of the border. (Tue, 17 Feb 2009 17:16:43 GMT)
Interim Budget 2009 Speech
Read the entire text of Pranab Mukherjee's Interim Budget speech. 1. I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. (Tue, 17 Feb 2009 18:38:16 GMT)
GM Viability Plan: Spin Off Saab, Saturn, and HUMMER
General Motors has released the viability plan it expects to win more bailout loans from Congress--another $16.6 billion, to keep it operating until it can begin repaying the loans in 2012. Like the earlier filing by Chrysler, GM's plan involves trimming down in the number of models it sells, and betting heavily on electrified vehicles like the .. (Wed, 18 Feb 2009 00:11:33 GMT)
GM Presents U.S. Government Updated Plan for a Viable, Sustainable Company
- (Wed, 18 Feb 2009 00:27:00 GMT)
GM Presents U.S. Government Updated Plan for a Viable, Sustainable Company
General Motors (NYSE: GM) today presented the United States Department of Treasury with an updated plan that boldly responds to the weaker global auto market conditions and details the company's long term viability. (Wed, 18 Feb 2009 00:30:09 GMT)
GM Presents Updated Plan for a Viable, Sustainable Company
WASHINGTON, February 18, 2009: General Motors today presented the United States Department of Treasury with an updated plan that boldly responds to the weaker global auto market conditions and details the company's long term viability. (Wed, 18 Feb 2009 06:18:25 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - Americans are dealing with the credit crunch by keeping cash on hand. In the process, however, the average consumer is paying 2.6 bills late every month, according to the Western Union Payment Services Money Mindset Index. (Wed, 18 Feb 2009 07:30:16 GMT)
Can't repay your loans? Here's help
With people losing their jobs and finding it difficult to repay their loan obligations here's how you can cope with the crisis. (Wed, 18 Feb 2009 11:38:42 GMT)
McGuinty expects auto sector to ask for more money
Ontario Premier Dalton McGuinty won't be surprised if Chrysler and General Motors ask for more money to continue operations -- in fact he says he expects it. (Wed, 18 Feb 2009 12:28:33 GMT)
Loblaw Companies Limited Reports 2008 Fourth Quarter and Fiscal Year Ended January 3, 2009 Results(1)
Loblaw Companies Limited today announced its unaudited financial results for the fourth quarter and fiscal year ended January 3, 2009. (Wed, 18 Feb 2009 13:00:00 GMT)
Temecula Valley Bank Agrees to FDIC Action Plan
TEMECULA, Calif.----Temecula Valley Bancorp Inc. today announced that its wholly owned subsidiary Temecula Valley Bank has entered into an agreement with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions to adopt an action program designed to further enhance the strength and stability of its operations. (Wed, 18 Feb 2009 13:00:00 GMT)
GM: Unrealistic Expectations
As promised, General Motors and Chrysler delivered their turnaround plans to the Treasury Dept. on Tuesday, Feb. 17. While both companies have slashed costs, both say they need more government cash and concessions from the union or their creditors to survive the downturn. (Wed, 18 Feb 2009 13:08:41 GMT)
GM: Unrealistic Expectations
It's avoided bankruptcy so far, but are GM's sales expectations realistic enough to bring the struggling automaker back to profitability? (Wed, 18 Feb 2009 13:22:19 GMT)
Superior Plus Announces Strong 2008 Annual Financial Results and Solid Fourth Quarter Performance
HIGHLIGHTS (Wed, 18 Feb 2009 18:43:00 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - Americans are dealing with the credit crunch by keeping cash on hand. In the process, however, the average consumer is paying 2.6 bills late every month, according to the Western Union Payment Services Money Mindset Index. (Wed, 18 Feb 2009 18:48:41 GMT)
Dollar Rises Above 93 Yen on Obama’s Plan to Stem Foreclosures
Feb. 18 (Bloomberg) -- The dollar rose above 93 yen for the first time in six weeks and strengthened to the highest against the euro since November after President Barack Obama released a $75 billion housing program to stem home foreclosures. (Wed, 18 Feb 2009 22:28:51 GMT)
Dollar Rises Above 93 Yen on Obama’s Plan to Stem Foreclosures
Feb. 18 (Bloomberg) -- The dollar rose above 93 yen for the first time in six weeks and strengthened to the highest against the euro since November after President Barack Obama released a $75 billion housing program to stem home foreclosures. (Wed, 18 Feb 2009 22:31:22 GMT)
MBA of Pierce County finds promise, faults with stimulus packages
With President Barack Obama signing the federal stimulus package yesterday, it was no surprise that the hot topic at the Master Builders Association of Pierce County 2009 economic forecast event was the state and national stimulus packages and how they will affect the building industry.Many conversations focused around the $15,000 home buyer tax credit being changed to an $8,000 first-time home ... (Wed, 18 Feb 2009 22:44:46 GMT)
Satyam-Maytas: CTRL+Shift
Though the controversial Satyam-Maytas deal has been called off, regaining investor confidence will be an uphill task. (Thu, 19 Feb 2009 02:26:15 GMT)
RONA Announces Results for Fiscal 2008
RONA (Thu, 19 Feb 2009 13:47:00 GMT)
RONA Announces Results for Fiscal 2008
BOUCHERVILLE, QUEBEC-- - RONA (Thu, 19 Feb 2009 13:47:25 GMT)
Chiquita Reports Fourth Quarter and Full-Year 2008 Results
Comparable full-year 2008 income from continuing operations improved $56 million despite recessionary environment (Thu, 19 Feb 2009 21:08:00 GMT)
ShawCor Ltd. Announces Fourth Quarter And Full Year 2008 Results
News, SCL.B - News) (Thu, 19 Feb 2009 22:32:00 GMT)
Chiquita Reports Fourth Quarter and Full-Year 2008 Results
Chiquita Brands International, Inc. today released financial and operating results for the fourth quarter and full-year 2008. All figures in this press release are for continuing operations, unless otherwise noted. (Thu, 19 Feb 2009 23:04:00 GMT)
Chiquita Reports Fourth Quarter and Full-Year 2008 Results
CINCINNATI, February 19 /PRNewswire/ -- - Comparable full-year 2008 income from continuing operations improved US$56 million despite recessionary environment - Q4 includes non-cash goodwill impairment charge of US$375 million at Fresh Express - Comparable 2008 full-year EPS of US$1.12; Reported EPS of US$(7.43), including charges - Expect to improve full-year net income and EPS in 2009 on a ... (Thu, 19 Feb 2009 23:15:08 GMT)
Simple Steps to Achieve a Better Credit Score
(ARA) - Americans are dealing with the credit crunch by keeping cash on hand. In the process, however, the average consumer is paying 2.6 bills late every month, according to the Western Union Payment Services Money Mindset Index. (Fri, 20 Feb 2009 07:56:16 GMT)
Berkshire Bank Offers New Community Investment Program
PITTSFIELD, Mass., Feb. 20, 2009 -- Berkshire Bank will launch its Community Investment Program on March 16, 2009, expanding personal and business credit, supporting the growth of the housing market and providing assistance to nonprofit organizations which are central to tourism and the cultural vitality of the communities in our western Massachusetts, northeastern New York and southern Vermont ... (Fri, 20 Feb 2009 17:06:04 GMT)
Roubini Says Europe Bank Risks Becoming ‘More Severe’ (Update2)
Feb. 20 (Bloomberg) -- Europe’s banking system faces growing risks because of losses in the region’s emerging markets, and the crisis may require a region-wide rescue effort, said New York University economist Nouriel Roubini. (Fri, 20 Feb 2009 18:00:46 GMT)
(AFX UK Focus) 2009-02-20 19:05 WestLB bad bank touches raw nerve in Ireland
By Andras Gergely (Fri, 20 Feb 2009 19:35:03 GMT)
Are Utah banks lending? Depends who you ask
If anyone qualifies for a business loan, it might be Frank Dsouza. His Salt Lake City-based import, manufacturing and distribution company, Seaich Corp. (Fri, 20 Feb 2009 23:51:45 GMT)
German 'bad bank' in Dublin adds to Irish concerns
News on Friday that WestLB, one of Germany’s biggest banking casualties of the financial crisis, has a bad bank in Dublin has highlighted Ireland as a possible destination for toxic assets. (Sat, 21 Feb 2009 02:46:29 GMT)
German 'bad bank' in Dublin adds to Irish concerns
News on Friday that WestLB, one of Germany’s biggest banking casualties of the financial crisis, has a bad bank in Dublin has highlighted Ireland as a possible destination for toxic assets. (Sat, 21 Feb 2009 14:27:54 GMT)
German 'bad bank' in Dublin adds to Irish concerns
News on Friday that WestLB, one of Germany’s biggest banking casualties of the financial crisis, has a bad bank in Dublin has highlighted Ireland as a possible destination for toxic assets. (Sun, 22 Feb 2009 00:16:47 GMT)
Archie Mae Responds To Obama Administration's Billion Dollar Housing Stability Plan
New 25%, Second Mortgage with No Monthly Payments / No Interest Ever Poised As The Preferred Solution Of Choice. Enhances Stability Plan and Expands Number of Families That Could Be Helped and Increases Disposable Income To The Economy $43.6 Billion -- Without Balloon or Interest Rate Exposure (Sun, 22 Feb 2009 07:01:00 GMT)
Tips to Get Out of Debt and Avoid Bankruptcy
(ARA) - Facing the most difficult economic conditions in decades, many Americans are sobering up to the fact that they're deeply in debt. (Sun, 22 Feb 2009 07:29:50 GMT)
Archie Mae Responds To Obama Administration's Billion Dollar Housing Stability Plan
New 25%, Second Mortgage with No Monthly Payments / No Interest Ever Poised As The Preferred Solution Of Choice. Enhances Stability Plan and Expands Number of Families That Could Be Helped and Increases Disposable Income To The Economy $43.6 Billion -- Without Balloon or Interest Rate Exposure (PRWeb Feb 22, 2009) Read the full story at ... (Sun, 22 Feb 2009 08:17:25 GMT)
Biz Bits
The list (Sun, 22 Feb 2009 10:10:34 GMT)
German 'bad bank' in Dublin adds to Irish concerns
News on Friday that WestLB, one of Germany’s biggest banking casualties of the financial crisis, has a bad bank in Dublin has highlighted Ireland as a possible destination for toxic assets. (Sun, 22 Feb 2009 12:24:08 GMT)
(AFX UK Focus) 2009-02-22 21:58 PRESS DIGEST-Australian Business News - Feb 23
Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy. THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com) --In a change to its original fund-raising plans, iron ore miner Fortescue Metals will now offer at least A$500 million in new equity to institutional investors. The equity raising is likely to be completed in the coming days and is ... (Sun, 22 Feb 2009 22:33:15 GMT)
Enel’s Endesa Deal Will Focus Growth Strategy on Latin America
Feb. 23 (Bloomberg) -- Enel SpA ’s 11.1 billion-euro ($14.2 billion) bid to increase its stake in Endesa SA , Spain’s largest hydropower generator, will help the Italian utility to expand in South America, where economies are growing as Europe contracts. (Mon, 23 Feb 2009 00:45:21 GMT)
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