Debt Consolidation News Jul 2010
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How Europe debt crisis will affect Canadas economy
Plus, Loblaw profit sinks. And, GM acquires financing business (Thu, 22 Jul 2010 10:56:15 -0700)
BancorpSouth Announces Second Quarter 2010 Financial Results
BancorpSouth, Inc. today announced financial results for the quarter ended June 30, 2010. (Thu, 22 Jul 2010 13:00:00 -0700)
Seacoast Reports Results for Second Quarter 2010
- (Thu, 22 Jul 2010 13:01:00 -0700)
(Con)census building? Tory decision sparks anger, study
Bank of Canada to evaluate impact. Plus, how Europe's crisis will affect Canda (Thu, 22 Jul 2010 13:01:44 -0700)
Seacoast Bank reports second-quarter net loss of $13.8 million
STUART Seacoast Banking Corp. of Florida, a bank holding company whose principal subsidiary is Seacoast National Bank, today reported a second quarter 2010 net loss of $13.8 million, compared to a net loss of $63.0 million for the second quarter of 2009 and a net loss of $1.6 million for the first quarter this year. (Thu, 22 Jul 2010 15:24:00 -0700)
Growing NPLs won't cripple China banking sector, says S&P
Chinas banking sector will have a higher non-performing loan ratio in coming years, but good profitability, strong liquidity and adequate capitalisation will enable the major lenders to absorb unexpected credit losses. (Thu, 22 Jul 2010 15:32:58 -0700)
Mark Carney has solid case for raising rates well above Fed
Plus, how Europe's crisis will affect Canada. And, GM buys financing business (Thu, 22 Jul 2010 15:46:41 -0700)
Seacoast Reports Second Quarter 2010 Net Loss of $13.8M
STUART, Fla., July 22 -- Nonperforming loans declined by 28.3% over the last twelve months, 5.6% f... (Thu, 22 Jul 2010 16:57:21 -0700)
American Express Q2 Profit Triples, Beats Estimate
Credit card service provider American Express Co. (AXP) said Thursday its second quarter profit more than tripled from last year, helped by the strong performance in the U.S. Card Services division and a sharp decline in loan loss provisions. Earnings for the quarter surpassed Street expectations, as did revenues. (Thu, 22 Jul 2010 17:06:57 -0700)
Debt Consolidation and Student Fees Most Popular Loan Categories Approved Currently through YES-secure.com
YES-secure.com, the UKs first truly social network aimed at peer to peer (person to person) social lending and borrowing, announced that the two most popular unsecured loan categories currently being approved through its web marketplace are Debt Consolidation and Student Fees. (Thu, 22 Jul 2010 19:12:00 -0700)
ECB chief tells top economies to fix budgets now
European Central Bank president Jean-Claude Trichet launched an outspoken warning to top industrialised countries on Friday to cut spending and tax now, not later for fear of derailing their economies. (Fri, 23 Jul 2010 01:35:48 -0700)
Fix budgets now, ECB chief tells top economies
European Central Bank president Jean-Claude Trichet launched an outspoken warning to top industrialised countries on Friday to cut spending and to tax now, not later for fear of derailing recovery. (Fri, 23 Jul 2010 02:31:12 -0700)
AmEx Exceeds Estimates
AXP reported its second-quarter income from continuing operations of $1.0 billion or 84 cents per share, ahead of the Zacks Consensus Estimate of 78 cents. (Fri, 23 Jul 2010 05:45:18 -0700)
Spanish banks pass stress tests, five 'cajas' fail
Five regional Spanish savings banks, of 19 analysed, failed stress tests to see how they would cope with worsened economic conditions, the Spanish Confederation of Savings Banks said on Friday. (Fri, 23 Jul 2010 10:25:03 -0700)
U.S. trims '10 deficit forecast
The Obama administration warned on Friday the U.S. economy had encountered "strong headwinds" and the country's fiscal challenge remained grave, but it lowered an estimate for the budget deficit this year. (Fri, 23 Jul 2010 13:11:53 -0700)
When Even Bernanke Sees Red Flags
The fate of the economy is "unusally uncertain." That's the assessment of Fed Chief Bernanke. That doesn't sound too optimistic from a man that's notoriously positive and upbeat. (Fri, 23 Jul 2010 13:34:53 -0700)
U.S. trims '10 deficit forecast as economy faces headwinds
The Obama administration warned on Friday the U.S. economy had encountered "strong headwinds" and the country's fiscal challenge remained grim, but it lowered an estimate for the budget deficit this year. (Fri, 23 Jul 2010 15:02:54 -0700)
U.S. trims '10 deficit forecast as economy faces headwinds
By Alister Bull (Fri, 23 Jul 2010 15:02:54 -0700)
Is the Mute Euro and S&P 500 Reaction to the EU Stress Test Results a Sign of Confidence?
The Committee of European Banking Supervisors released the results of its region-wide stress test on 91 European banks that account for approximately 65 percent of the systems total assets. (Fri, 23 Jul 2010 16:05:00 -0700)
US trims '10 deficit forecast, economy faces headwinds
WASHINGTON: The Obama administration warned on Friday the U.S. economy had encountered "strong headwinds" and the country's fiscal challenge remained grim, but it lowered an estimate for the budget deficit this year. Outlining the country's fiscal path over the next decade, the White House said the numbers were moving in the right direction but the deficit and debt were too high. "The economy is ... (Fri, 23 Jul 2010 18:14:36 -0700)
UPDATE 1-US trims '10 deficit forecast, economy faces headwinds
UPDATE 1-US trims '10 deficit forecast, economy faces headwinds (Fri, 23 Jul 2010 19:04:57 -0700)
UPDATE 3-US trims '10 deficit forecast, economy faces headwinds
UPDATE 3-US trims '10 deficit forecast, economy faces headwinds (Fri, 23 Jul 2010 20:05:18 -0700)
Business Briefs
The six bank seizures announced yesterday bring to 102 the failures so far in 2010. The pace of bank closures this year is well ahead of that of last year, which saw a total 140 bank shuttered amid the recession and mounting loan defaults. The Federal Deposit Insurance Corp. said ... (Fri, 23 Jul 2010 21:20:00 -0700)
My Money
OVERCOMING YOUR DEBT BURDEN In the past few articles, we have discussed different investment allocation strategies and how best to maximise your investments to protect them from erosion by external factors such as inflation and market fluctuations. (Mon, 26 Jul 2010 08:10:48 -0700)
The Hindu Business Line : Fiscal policy and global growth
Across the world, governments are debating whether it is time to exit their fiscal response to the global crisis and return to austerity and fiscal consolidation. (Mon, 26 Jul 2010 12:19:03 -0700)
Fiscal prudence
Calcutta, July 26: The Bengal Assembly today passed the West Bengal Fiscal Responsibility and Budget Management Bill (FRBM), 2010, which will be sent to the governor for his assent. (Mon, 26 Jul 2010 13:51:02 -0700)
/C O R R E C T I O N -- ASUR 2Q10 Passenger Traffic Up 26.75% YOY/
Jul-2010 by Grupo Aeroportuario del Sureste, S.A.B. de C.V. over PR Newswire, we are advised by the company that the information in the Consolidated Balance Sheet and the Consolidated Statement of Cash Flow was incorrect and has been updated. (Mon, 26 Jul 2010 15:23:00 -0700)
Offshore Drilling, UBS, Vivendi, Chrysler, Blagojevich, Icahn: Court News
Opponents of a U.S. ban on deepwater drilling asked a federal appeals court to block a bid by regulators to throw out a judges ruling that scrapped the moratorium. (Mon, 26 Jul 2010 22:24:57 -0700)
Reserve Bank of India's Monetary Policy Statement Issued in Mumbai Today
The following is a reformatted version of the full text of the statement released today by the Reserve Bank of India. Introduction (Mon, 26 Jul 2010 23:50:13 -0700)
Ukraine: Milking both cows
Timothy Ash, the Head of Emerging Markets Research at the Royal Bank of Scotland, writes:We visited Kyiv on July 21 - 23, 2010, meeting with the Minister of Energy, officials from the Ministry of Finance, the central bank, the International Monetary Fund, the City of Kyiv, alongside various local banks/corporates, journalists and diplomats. (Tue, 27 Jul 2010 01:51:00 -0700)
Regions Reports Financial Results for Second Quarter 2010
BIRMINGHAM, Ala.----Regions Financial Corporation today reported financial results for the quarter ending June 30, 2010. (Tue, 27 Jul 2010 04:00:00 -0700)
Inmet Announces Second Quarter Earnings
TORONTO, CANADA--(Marketwire - 07/27/10) - All amounts in Canadian dollars unless indicated otherwise Inmet (TSX: IMN - News ) announces second quarter earnings. Second quarter highlights -- Foreign exchange losses reduce earnings Inmet announces second quarter earnings of $0.86 per share compared with earnings of $1.37 per share in the second quarter of 2009. Our net income this quarter was $39 ... (Tue, 27 Jul 2010 05:40:00 -0700)
First BanCorp Reports Financial Results for the Quarter Ended June 30, 2010
SAN JUAN, Puerto Rico----First BanCorp , the bank holding company for FirstBank Puerto Rico , today reported a net loss for the second quarter of 2010 of $90.6 million, or $ per diluted share, compared to a net loss of $107.0 million, or $ per diluted share for the first quarter of 2010 and a net loss of $78.7 million, or $ per diluted share for the second quarter of 2009. (Tue, 27 Jul 2010 06:00:00 -0700)
Prime Mortgage Opens New Branch in Burlington; New Office to Serve Five Piedmont Counties
Triangle - (Apex, NC) July 27, 2010John Rodgers, president and owner of Prime Mortgage Lending, has announced that the company has now opened a new branch in Burlington, NC. Prime Mortgage Lending, Inc. is licensed in North Carolina, South Carolina and Virginia. (Tue, 27 Jul 2010 06:55:02 -0700)
Merger talk fuels Greek banks' summer rally
* Greek bank shares gain 6.6 pct, continue rally (Tue, 27 Jul 2010 07:49:40 -0700)
Consumer complaints increased last year as enforcement funding dropped
Consumer complaints to government watchdog agencies seem to be climbing, and much of that increase appears to be tied to a spike in debt-consolidation and credit-help scams, according to research rele (Tue, 27 Jul 2010 12:35:14 -0700)
Capital Trust Reports Second Quarter 2010 Results
Capital Trust, Inc. today reported results for the quarter ended June 30, 2010. (Tue, 27 Jul 2010 13:00:00 -0700)
Plumas Bancorp Reports Second Quarter Net Income
QUINCY, CA--(Marketwire - July 27, 2010) - Plumas Bancorp ( NASDAQ : PLBC ), a bank holding company and the parent company of Plumas Bank, today announced that second quarter earnings increased by $3.8 million from a net loss of $3.2 million for the second quarter ended June 30, 2009 to net income of $576 thousand during the quarter ended June 30, 2010. For the six months ended June 30, 2010 ... (Tue, 27 Jul 2010 13:07:32 -0700)
CB Richard Ellis Group, Inc. Reports Higher Revenue and Earnings for the Second Quarter of 2010
LOS ANGELES----CB Richard Ellis Group, Inc. today reported higher revenue and earnings for the second quarter ended June 30, 2010. Net income on a U.S. GAAP basis improved to $54.8 million, or $0.17 per diluted share, for the quarter, compared with a net loss of $6.6 million, or $0.02 loss per diluted share, in the second quarter of 2009. (Tue, 27 Jul 2010 14:05:00 -0700)
Daytona Energy Corporation Releases Details of Upcoming Annual General and Special Meeting of Shareholders
CALGARY, ALBERTA--(Marketwire - July 27, 2010) - Daytona Energy Corporation ("Daytona" or the "Corporation") (TSX VENTURE:DTE) advises that its annual and special meeting (the "Meeting") of the holders ("Shareholders") of common shares ("Common Shares") in the capital of Daytona will be held at the offices of Macleod Dixon LLP at 3700 Canterra Tower, 400 - 3 rd Avenue S.W., Calgary, Alberta, on ... (Tue, 27 Jul 2010 14:06:47 -0700)
$16.5M water plant lacks majority support
BY JACQUELINE DURETT Correspondent In the end, it came down to one vote. And that belonged to Sayreville Councilman Frank Bella, who went against the proposed $16.5 million expansion of the Bordentown Avenue Water Treatment Plant during the Borough Councils July 26 meeting. read more (Tue, 27 Jul 2010 17:27:41 -0700)
IMF: Jordan to expect slow recovery
IMF: Jordan to expect slow recovery (Tue, 27 Jul 2010 22:44:49 -0700)
ArcelorMittal Reports Second Quarter 2010 Results
LUXEMBOURG----Regulatory News: (Tue, 27 Jul 2010 23:30:00 -0700)
BUSINESS WIRE: ArcelorMittal Reports Second Quarter 2010 Results
MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH. (Tue, 27 Jul 2010 23:53:59 -0700)
Tower Bancorp, Inc. Announces Earnings, Dividend
2Q 2010 HIGHLIGHTS (Wed, 28 Jul 2010 05:00:00 -0700)
Financiera Independencia Reports 2Q10 Net Income up 4.9% to Ps.143.5 Million With Loan Portfolio Growth of 16.7%
- (Wed, 28 Jul 2010 06:17:00 -0700)
President Obama promotes bill encouraging small business lending in Edison
EDISON Brian Bovio, operations manager for his familys heating and cooling business in Camden County, said his company was hit hard when the economy soured. "We took quite a hit," he said. "We had to lay some people off."... (Wed, 28 Jul 2010 18:09:59 -0700)
Fed: U.S. economic recovery has slowed; region sees moderate growth
The central bank's overall U.S. report underscores its view that the recovery is progressing at a slower pace. (Wed, 28 Jul 2010 18:47:49 -0700)
Neste Oil's interim report for January - June 2010
ESPOO, FINLAND--(Marketwire - July 29, 2010) - (Thu, 29 Jul 2010 00:05:25 -0700)
Europe's 30 trillion headache
European banks face a serious funding threat over the next two years as authorities withdraw emergency support, S&P says. (Thu, 29 Jul 2010 00:06:35 -0700)
Bunge Reports Second Quarter Results
Bunge Limited (Thu, 29 Jul 2010 03:30:00 -0700)
GrafTech Reports Second Quarter 2010 Results
PARMA, Ohio----GrafTech International Ltd. today announced financial results for the second quarter ended June 30, 2010. (Thu, 29 Jul 2010 04:00:00 -0700)
First State Reports Second Quarter Results
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--First State Bancorporation: OVERVIEW: Loans decreased $135.6 million. Deposits excluding brokered increased $24.3 million. Brokered deposits including CDARS reciprocal decreased $65.8 million. Net interest margin increased to 2.67% for the quarter. Total non-performing loans decreased $17.4 million. Liquidity increased $41 million since March 31, 2010 and $332 ... (Thu, 29 Jul 2010 04:13:24 -0700)
Cabela's Inc. Reports Strong Profitability Increases
SIDNEY, Neb.----Cabelas Incorporated today reported record second quarter fiscal 2010 earnings. (Thu, 29 Jul 2010 05:00:00 -0700)
China eyes gradual fiscal exit, no rate rise -IMF
BEIJING, July 29 (Reuters) - Subdued inflation is reducing the need for higher interest rates in China, which intends to withdraw its fiscal stimulus gradually, the International Monetary Fund said on Thursday. (Thu, 29 Jul 2010 06:00:39 -0700)
China eyes gradual fiscal exit, no rate rise -IMF
China eyes gradual fiscal exit, no rate rise -IMF (Thu, 29 Jul 2010 07:04:15 -0700)
Gold and Silver's Daily Review
Gold was Fixed this morning in London at $1,166 steadying after yesterdays fall. Physical demand is holding the price up. All markets are currently looking for a clear direction. Until this is found we expect gold prices to consolidate. (Thu, 29 Jul 2010 08:14:50 -0700)
Bunge Profits Climb
NEW YORK - Jul 29/10 - SNS -- Bunge reported net income of U.S. $1,778 million on sales of $10,974 million for the second quarter ending June 30, compared to net income on $313 million on revenue of $10,994 million during the same three month period last year. (Thu, 29 Jul 2010 08:19:28 -0700)
Saint-Gobain: H1 2010: Sharp Upswing in Results
FIRST-HALF 2010 (Thu, 29 Jul 2010 10:34:00 -0700)
Noranda Income Fund Reports Second Quarter Net Earnings of $8.5 Million
VALLEYFIELD, QUEBEC-- - Noranda Income Fund reported net earnings of $8.5 million for the second quarter of 2010, compared to a net loss of $0.7 million in the same quarter a year ago. (Thu, 29 Jul 2010 11:03:43 -0700)
Akhmetov, Russians clash over Ukrainian steel mills
Consolidation has been the name of the game this year in Ukraines strategically important and vast metals sector, as homeboy billionaire Rinat Akhmetov battles it out with Kremlin-backed investors for control of the countrys ore-starved steel mills. (Thu, 29 Jul 2010 12:21:21 -0700)
New Rule Cracks Down on Debt Settlement Industry
Tired of credit card debt? Vulnerable borrowers get some protection Debt settlement - Business - Financial Services - Financial Planning - Debt Consolidation (Thu, 29 Jul 2010 12:43:57 -0700)
Canfor Reports Improved Financial Results for Second Quarter of 2010
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2010) - Canfor Corporation (TSX:CFP) today reported total net income of $40.4 million for the second quarter of 2010, compared to $32.5 million for the first quarter of 2010 and $12.1 million for the second quarter of 2009. For the six months ended June 30, 2010, the Company's net income was $72.9 million, compared to a loss of $57.8 million ... (Thu, 29 Jul 2010 14:17:00 -0700)
FTC rules take aim at debt-relief industry
The Federal Trade Commission issued stringent new rules cracking down on the burgeoning debt-relief industry on Thursday, saying it too often charges consumers hefty upfront fees but fails to reduce the amount of money they owe creditors. Business - Debt settlement - Financial Services - Federal Trade Commission - Financial Planning (Thu, 29 Jul 2010 21:00:00 -0700)
SES Reports Further Growth in First Half
LUXEMBOURG----SES S.A., one of the worlds leading satellite operators , reports financial results for the six months to 30 June 2010. (Thu, 29 Jul 2010 23:00:00 -0700)
Romanoff lashes Bennet for millions in movie-chain payouts
Sen. Michael Bennet frequently touts his business experience restructuring billions of dollars in corporate debt while overseeing a major movie-theater chain for billionaire Philip Anschutz. (Fri, 30 Jul 2010 00:26:01 -0700)
What? Another S$1 billion goodwill charge at DBS HK?
SINGAPORE, ( July 30, 2010) Almost 10 years after DBS Group grossly over paid for its acquisition of its Hong Kong operations, the Singapores largest banking group is still talking about goodwill impairment to wipe off value of its key asset up north. In a surprise move today, DBS said it has made a one-time goodwill impairment charge of S$ 1.02 billion during the second quarter for DBS Hong ... (Fri, 30 Jul 2010 01:27:52 -0700)
Advanced Semiconductor Engineering, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter of 2010
TAIPEI, Taiwan, July 30 /PRNewswire-Asia-FirstCall/ -- Advanced Semiconductor Engineering, Inc. (TAIEX: 2311; NYSE: ASX) ("We", "ASE", or the "Company"), the world's largest independent provider of IC packaging and testing services, today reported unaudited net revenue(1) of NT$46,416 million for the second quarter of 2010 (2Q10), up 122% year-over-year and up 24% sequentially. Net income for ... (Fri, 30 Jul 2010 03:22:24 -0700)
Centerra Gold Reports Second Quarter Results, Net Earnings of $30 Million or 13 Cents Per Share and Declares Inaugural ...
(This news release contains forward-looking information that is subject to the risk factors and assumptions set out on page 14 and in our Cautionary Note Regarding Forward-looking Information on page 16. All figures are in United States dollars.) (Fri, 30 Jul 2010 04:02:13 -0700)
Warner Chilcott Announces Proposed Leveraged Recapitalization Including Special Cash Dividend to Shareholders and ...
Warner Chilcott plc today announced a recapitalization pursuant to which it intends to incur, subject to market and other conditions, $2.25 billion of new debt to fund a special dividend to Warner Chilcott's ordinary shareholders of $8.50 per share, or approximately $2.15 billion in the aggregate. (Fri, 30 Jul 2010 05:30:00 -0700)
IMF Executive Board Concludes 2010 Article IV Consultation with France
On July 28, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with France. 1 A fragile recovery is underway in France. (Fri, 30 Jul 2010 07:16:50 -0700)
Warner Chilcott Announces Proposed Leveraged Recapitalization Including Special Cash Dividend to Shareholders and ...
ARDEE, Ireland, July 30 /PRNewswire-FirstCall/ -- Warner Chilcott plc (Nasdaq: WCRX) today announced a recapitalization pursuant to which it intends to incur, subject to market and other conditions, $2.25 billion of new debt to fund a special dividend to Warner Chilcott's ordinary shareholders of $8.50 per share, or approximately $2.15 billion in the aggregate. The new debt is expected to be ... (Fri, 30 Jul 2010 09:01:41 -0700)
Your Source for Daily FOREX Market News and Analysis
Is the Mute Euro and S&P 500 Reaction to the EU Stress Test Results a Sign of Confidence? (Fri, 30 Jul 2010 13:58:39 -0700)
High schools want $180M for upgrades
A $180 million bond measure could pay off $74 million in debt, allow for upgrades at school sites and fund a new continuation school if the San Mateo Union High School District can hammer out the details before the November ballot deadline next week. (Sat, 31 Jul 2010 04:14:32 -0700)
With slow U.S. recovery rises new fear: stagnation
Even as Congress moves to extend jobless benefits for millions of workers, a growing body of evidence suggests the United States is heading toward an economic netherworld avoiding a slide back into recession but growing so slowly that unemployment will remain high, home prices low and incomes essentially stagnant. (Sat, 31 Jul 2010 16:09:00 -0700)
Free-spending, debt-laden: Credit woes can have roots in emotional needs
Personal-finance experts estimate that at least 10 percent of debt woes are a direct result of overspending pure lack of discipline. Overspending and accumulating debt may be manifestations of deep, unresolved emotional issues and unmet needs. Shopping becomes like a drug, just as work is for workaholics, and provides a temporary escape from worry and anxiety. (Sat, 31 Jul 2010 20:22:33 -0700)
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