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  • Lower deposit guarantee hurt SCF Wednesday, September 1, 2010 @ 3:59PM[AAP] - Wealthy investors pulling money out of South Canterbury Finance (SCF) to get below new limits for the Government s deposit guarantee scheme appear to have compounded the woes of the Timaru-based finance ...
  • Woman who swindled West Orange man out of $165K is sentenced to 5 years probation Wednesday, September 1, 2010 @ 3:59PMAttorney General's officeBrenda Miguel, a convicted con woman who swindled a West Orange man out of $165,000. NEWARK — A woman who admitted stealing nearly $165,000 from an elderly New Jersey man has been ordered to make restitution and sentenced...
  • Consequences of guarantee and SCF collapse debated Wednesday, September 1, 2010 @ 3:57PMThe focus has turned to who will buy the assets of South Canterbury Finance and the unintended consequences of the Retail Deposit Guarantee Scheme. David Tripe, director of the Centre for Banking Studies at Massey University, said that in six weeks time there would not be much of a deposit guarantee scheme left. The extended scheme from October 12 covers just seven institutions now SCF has ...
  • Lumber Yard owners confirm possibility of selling Wednesday, September 1, 2010 @ 8:09AMThe owners of the mall on Legacy Park would prefer to find a new investor.
  • Citigroup to Reduce Fees on U.S. Banking Accounts Wednesday, September 1, 2010 @ 8:08AMCitigroup Inc. will halve the minimum balance on checking accounts with the highest level of service, in a push to get more customers to use the bank for their primary accounts.
  • Afghanistan Says Shareholder Rule, Not Graft, Forced Out Kabul Bank Chiefs Wednesday, September 1, 2010 @ 8:05AMAfghanistan’s central bank governor said top officials of the country’s largest commercial bank resigned to comply with new rules, rejecting U.S. newspaper reports that his agency forced them out for corruption.
  • Regulators defend actions on Lehman, Wachovia Wednesday, September 1, 2010 @ 8:02AMFederal bank regulators are defending their actions leading up to the collapse of Lehman Brothers and the purchase of Wachovia at the height of the financial crisis.
  • Premier Financial Bancorp, Inc. Announces Plan to Merge Five Banks Wednesday, September 1, 2010 @ 8:00AMPREMIER FINANCIAL BANCORP, INC. , , a $1.1 billion bank holding company with eight bank subsidiaries, announced that it has filed applications with state and federal banking regulatory authorities to merge its three wholly owned West Virginia banks and two other subsidiary banks to form a nearly $800 million West Virginia chartered bank with 22 locations in West Virginia, Virginia, Washington ...
  • Analyst Reports on New York Community (NYSE: NYB) & Peoples United (NASDAQ: PBCT) -- Savings & Loans Banks Seeing ... Wednesday, September 1, 2010 @ 8:00AMTORONTO--(Marketwire - 09/01/10) - The Bedford Report analyst team is looking at the Savings & Loans Industry and has issued Analyst Reports on New York Community Bancorp, Inc. (NYSE: NYB - News ) & People's United Financial, Inc. (NASDAQ: PBCT - News ). Access to the full company reports can be found at www.bedfordreport.com . While results from banks that have large ...
  • The State's "Inception" Fails Wednesday, September 1, 2010 @ 7:57AMLew Rockwell explains that government-planned prosperity was only a dream. Massive unemployment and failing industries are the reality. Stimulus is just hitting the snooze button.
  • El-Atari Sentenced To 12 Years For Bank Fraud Wednesday, September 1, 2010 @ 7:54AMFormer Ashburn resident and Original Steakhouse owner Osama El-Atari will spend the next 12 years behind bars, after being sentenced for a fraud scheme in which he stole more than $53 million from banks in four different states.
  • ING Fund Returns 26% With Iben as No. 1 Manager Fueled by New Guinea Gold Wednesday, September 1, 2010 @ 7:53AM“We don’t understand why people would strive to look like an index,” says Iben, chief investment officer of Nuveen’s Tradewinds stock funds unit. “We are looking for stocks where we disagree with people.”
  • The Hartford Survey Finds Workers With Lower Incomes Lag Behind In Life Insurance Knowledge, Participation Wednesday, September 1, 2010 @ 7:46AMSIMSBURY, Conn.--(BUSINESS WIRE)--The Hartford's survey finds America’s lower income and less educated workers lag behind in the understanding and purchasing of life insurance than those with higher household income and education.
  • What is predatory lending? Monday, August 30, 2010 @ 12:12AMA few weeks back, I wrote a brief article for the daily Business section about a complaint filed against Wells Fargo by the Pennsylvania Human Relations Commission, which accused the lender of engaging in predatory-lending practices, primarily in Philadelphia's African American neighborhoods.
  • AgBank temporarily halts property market loans Monday, August 30, 2010 @ 12:12AMAgricultural Bank of China said Monday that it has temporarily suspended property market loans to counter a surge in real-estate lending, but insisted the country's property sector was "healthy."
  • Business briefs Sunday, August 29, 2010 @ 11:47PMGas falls The average price for regular gasoline at US filling stations fell to $2.69 a gallon as supplies increased and crude prices dropped. Gasoline declined 7.43 cents in the two weeks ended Aug. 27, according to a Trilby Lundberg survey. Obama loans The Obama adminis tration will...
  • Google, KPMG, Paul Weiss, Time Warner, Skilled Healthcare in Court News Sunday, August 29, 2010 @ 11:39PMPaul G. Allen, a Microsoft Corp. co- founder who was once the second-richest American, accused 11 companies including Google Inc. and Apple Inc. of infringing patents he holds for online-shopping technology.
  • Guest Post: The Age of Mammon Sunday, August 29, 2010 @ 11:30PMSubmitted by Jim Quinn of The Burning Platform The Age of Mammon “Financiers – like bank robbers – do not create wealth. They merely distribute it. While the mob may idolize holdup men in good times, in the bad times it lynches them. What they will do to the new money men when their blood is up, we wait eagerly to find out.”  -  Mobs, Messiahs and Markets    As our economy hurtles towards its ...
  • MPs: Crorepatis or underpaid public servants? Sunday, August 29, 2010 @ 11:25PMNew Delhi, Aug 30 : A 300-percent salary hike plus doubling of generous allowances is in the offing for our MPs, never mind that the majority of them are 'crorepatis', or millionaires as revealed by their declared assets!
  • Liam Dann: Allan Hubbard owes New Zealand an apology Sunday, August 29, 2010 @ 11:18PMHis supporters have written public letters to the Government calling for Allan Hubbard to be treated more fairly. Business Herald editor Liam Dann, a fellow Cantabrian, responds. Allan Hubbard owes New Zealand an apology....
  • Six vying for 2nd District Sunday, August 29, 2010 @ 11:15PMSunday August 29, 2010 New England Newspapers Six candidates with varied backgrounds and viewpoints are vying for voter support in the 2nd Berkshire District as the first round of election season fast approaches. A former priest and a pair of veterans are among the four men and two women seeking to succeed state Rep.
  • It pays to be a savvy bank customer Sunday, August 29, 2010 @ 11:13PMIn the newspaper industry, a new phrase has crept into the lingo.
  • Survey finds support for Fed but split on spending Sunday, August 29, 2010 @ 11:12PM(AP:NEW YORK) Economists are satisfied with the Federal Reserve's current interest rate policy, but they're divided over how the central bank should proceed over the next 12 months, a new survey finds.
  • SoCal broker sentenced in mortgage fraud scheme Saturday, August 28, 2010 @ 2:53PMLOS ANGELES — A former mortgage broker was sentenced to 78 months in federal prison for a fraud scheme that involved buying houses in some of Southern California's most ritzy neighborhoods and selling them to fake buyers at inflated prices.
  • SoCal broker sentenced in mortgage fraud scheme Saturday, August 28, 2010 @ 2:35PMA former mortgage broker was sentenced to 78 months in federal prison for a fraud scheme that involved buying houses in some of Southern California's most ritzy neighborhoods and selling them to fake buyers at inflated prices. Mark Alan Abrams of Los Angeles... Fraud - Mortgage - Business - Mortgage fraud - Mortgage broker
  • Loan rating can impact financial discipline: expert Saturday, August 28, 2010 @ 2:26PMKOCHI: Sankar Chakraborti, National Head - Business Development, CRISIL Ratings, Mumbai, has said that bank loan rating helps inculcate financial discipline in the borrower.
  • For small-business owners, credit crisis won't go away Saturday, August 28, 2010 @ 2:10PMRisk-averse big banks and tighter standards put a squeeze on Oregon companies.
  • JIM FLYNN: Buyers have a few windows for remorse Saturday, August 28, 2010 @ 2:09PMA question regularly put to lawyers by people suffering buyer’s remorse goes like this: “Hey, lawyer. Do I have the right to cancel this purchase I just made (or contract I just signed)?” The answer to this question is usually no, but there are...
  • Business : UAE leads Gulf states Saturday, August 28, 2010 @ 2:02PMThe UAE, which leads in Gulf Common Market (GCM) integration efforts, will continue to activate GCC economic integration, Minister of State for Financial Affairs Obaid Humaid Al Tayer said.
  • MONEY & BANKING Saturday, August 28, 2010 @ 1:30PMCREDIT MARKET: Banking on credit bureaus Applied for a loan that got rejected because of a poor “credit score”, as your bank put it? Before you take out your anger on the agency that gave you this poor score, it would pay for you to know that the agency is in no ...
  • Would a State Bank Be a Good Deal for Oregon? Saturday, August 28, 2010 @ 1:22PMWould the state of Oregon be better off if it was its own banker? Ann Kramer thinks so. Kramer, chair of the board of the Gorge Grown Food network , an organization trying to promote a regional food system in the Columbia Gorge, writes on the Blue Oregon site that having a state bank could help “recharge Oregon’s economy.” “ ...
  • Bernanke: Fed will act if economy falters Friday, August 27, 2010 @ 12:49PMFederal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
  • Feds open disaster recovery center in Westchester Friday, August 27, 2010 @ 12:48PMA federal/state Disaster Recovery Center will open Saturday in Westchester for residents to meet face-to-face with disaster recovery specialists, officials said today.
  • Why Blinder Is Wrong About The Fed Having More Bullets Friday, August 27, 2010 @ 12:48PMAlan Blinder, a former Fed Vice Chairman says the Fed still has options if more monetary easing is needed. Chairman Ben Bernanke has told the world that the Fed is not out of ammunition. It still has easing options, should it need to deploy them. The good news is that he's right.
  • The Elites Have Lost The Right to Rule Friday, August 27, 2010 @ 12:45PMFrom Michael Krieger of KAM LP War is the growth hormone of the cancer that is big government.  - Alex Jones A government always finds itself obliged to resort to inflationary measures when it cannot negotiate loans and dare not levy taxes, because it has reason to fear that it will forfeit approval of the policy it is following if it reveals too soon the financial and general economic ...
  • A fledgling outdoor market grows roots in boise-eliot neighborhood, helps community make extra income in hard times Friday, August 27, 2010 @ 12:34PMIt may not be bartering with the blacksmith and cobbler, but the new Boise-Eliot Outdoor Markets hopes an old business model will bring extra income to modern-day folks suffering in a dire economy.
  • Ben Bernanke speech: Federal Reserve ready to act if economy worsens Friday, August 27, 2010 @ 12:29PMBen Bernanke, chairman of the Federal Reserve, expressed tempered optimism about the economy in a major speech Friday. Stocks rose slightly following his comments.
  • Anger at release of harsh report Friday, August 27, 2010 @ 12:21PMAllan Hubbard has reacted angrily to a damning report which says he has overstated his company's value by millions and made poor investments, leaving investors likely to face losses.
  • Editorial: Grim news for investors Friday, August 27, 2010 @ 12:20PMWhat little that was left of Allan Hubbard's professional reputation after its shredding by Justice Minister Simon Power and the Serious Fraud Office was destroyed yesterday by a report from the statutory managers appointed to oversee his financial affairs.
  • September 29 is Deadline to Apply for SBA Economic Injury Disaster Loans in Florida Friday, August 27, 2010 @ 12:20PMATLANTA--(BUSINESS WIRE)--The U.S. Small Business Administration is reminding small businesses affected by the severe storms and flooding that occurred on Dec. 17, 2009 that Sept. 29 is the filing deadline for Economic Injury Disaster Loans. Small businesses and most private non-profit organizations in the following counties are eligible to apply for SBA Economic Injury Disaster Loans: Broward ...
  • Lawyers: Texas financier didn't run Ponzi scheme Thursday, August 26, 2010 @ 6:20PMLawyers for jailed Texas financier R. Allen Stanford and two of his former executives on Thursday tried to shoot down claims by a fraud examiner that their clients took part in the massive Ponzi scheme that authorities say helped bilk investors out of $7 billion.
  • IRS: Those small-business pension plans were too good to be true Thursday, August 26, 2010 @ 6:12PMIRS charges Los Angeles area man promoted "sham" schemes to doctors, lawyers and others
  • 22 new Katrina fraud charges announced Thursday, August 26, 2010 @ 6:10PMNEW ORLEANS (AP) - With the fifth anniversary of Hurricane Katrina a few days away, U.S. Attorney Jim Letten on Thursday announced the latest round of fraud cases arising from the storm. Letten outlined charges against 22 people accused of bilking government agencies or aid programs out of amounts ranging from $2,000 to well over $400,000. They are among more than 180 Katrina fraud cases ...
  • U.S. Foreign Assistance After September 11: Major Changes, Competing Purposes, and Different Standards-But Is There an ... Thursday, August 26, 2010 @ 6:06PMExperience has demonstrated that development assistance (i.e., government-to-government assistance intended to catalyze development in poor nations) is not a key factor in increasing economic growth in underdeveloped countries.
  • BHP chief embarks on mission to woo Potash Corp owners Thursday, August 26, 2010 @ 5:59PMBHP chief embarks on mission to woo Potash Corp ownersBHP chief embarks on mission to woo Potash Corp owners
  • Loan week, August 20-26 Thursday, August 26, 2010 @ 5:48PMA summary of the latest syndicated loan market news.
  • Net 1 UEPS Technologies, Inc. Announces 2010 Fourth Quarter and Year End Results and New Contract with SASSA Thursday, August 26, 2010 @ 5:39PMJOHANNESBURG, Aug. 26 /PRNewswire-FirstCall/ -- Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") (Nasdaq: UEPS; JSE: NT1) today announced results for the three months ("4Q 2010") and year ended June 30, 2010 ("F2010"). Revenue for 4Q 2010 was $68.7 million, a year over year increase of 11% in US dollars ("USD") and 2% in constant currency. During 4Q 2010, net loss under US generally ...
  • In Illinois, 1 in 10 mortgage holders missed payments Thursday, August 26, 2010 @ 5:36PMAlmost one in 10 of Illinois' 1.7 million home mortgage loans were at least 30 days past due in the second quarter, a troubling sign that might spell more foreclosures in the future, according to new data released today. Read more in Chicago Breaking Business .
  • Mortgage delinquency rates mixed Thursday, August 26, 2010 @ 5:36PMWASHINGTON, Aug. 26 (UPI) -- The Mortgage Bankers Association said Thursday delinquency rates on mortgages dropped in the second quarter but remain elevated compared to a year ago. Mortgage Bankers Association - United States - Business - Financial Services - Foreclosure
  • SLM Corporation Announces Cash Tender Offers for Certain Outstanding Notes Thursday, August 26, 2010 @ 5:35PMRESTON, Va.--(BUSINESS WIRE)--SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, today announced that it has commenced two separate modified “Dutch Auction” cash tender offers for its (i) Early 2011 Notes listed in the table below (the “Early 2011 Offer”) and (ii) Late 2011 Notes listed in the table below (the “Late 2011 Offer”). The maximum aggregate principal amount to be purchased in ...