Financial

  • China's central bank cuts rates again to boost economy Associated Press - 17 minutes ago
    China's central bank cuts rates again to boost economy

    China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank ...

  • Final Glance: Insurance companies Associated Press - 18 hours ago

    Shares of some top insurance companies were mixed at the close of trading: ACE L fell $.77 or .7 percent, to $114.01. Aflac Inc. rose $.07 or .1 percent, to $62.25. American International Group rose $.40 ...

  • Democrat: veto override still on despite GOP bill Associated Press - 18 hours ago

    Lawmakers' efforts to overhaul the Port Authority of New York and New Jersey got a jump-start on Friday, but the prospects for passing legislation are still uncertain. Two months after Govs. Andrew Cuomo ...

  • Greek prime minister rules out third bailout Associated Press - 20 hours ago
    Greek prime minister rules out third bailout

    Greece's new radical left government has no intention of seeking another bailout deal from international creditors and will spend coming months trying to ease the terms of its current commitments, the ...

  • Germany approves Greek bailout extension despite unease AFP - 21 hours ago
    Germany approves Greek bailout extension despite unease

    German lawmakers approved a hard-won bailout extension for Greece's new anti-austerity government in a move Berlin's finance chief called "not easy" but necessary, keeping a crucial lifeline open to Athens. Greece's left-wing Prime Minister Alexis Tsipras welcomed the German vote Friday as "a political act of common sense and democracy", saying there would be no third bailout for his country and pledging to get to work on reforms. He promised that now his month-old government would "start working hard, in order to change Greece within a Europe that changes direction". The four-month bailout extension for Greece, approved by eurozone finance ministers Tuesday, averts a potentially calamitous end-February deadline that could have seen Athens default and exit from the euro.

  • Midday Glance: Insurance companies Associated Press - 22 hours ago

    Shares of some top insurance companies are mixed at 1 p.m.: ACE L fell $.14 or .1 percent, to $114.64. Aflac Inc. rose $.23 or .4 percent, to $62.41. American International Group rose $.42 or .8 percent, ...

  • Greece: Loan extension deal purposely vague to help approval Associated Press - 23 hours ago
    Greece: Loan extension deal purposely vague to help approval

    Greece's finance minister said Friday that an agreement with its European creditors to extend its international loan agreement by four months was intentionally vague to ensure the countries that need to ...

  • Early Glance: Insurance companies Associated Press - Sat, Feb 28, 2015 3:10 AM AEDT

    Shares of some top insurance companies are mixed at 10 a.m.: ACE L fell $.26 or .2 percent, to $114.52. Aflac Inc. fell $.01 or percent, to $62.17. American International Group rose $.13 or .2 percent, ...

  • Greek finance chief: Loan extension deal deliberately vague Associated Press - Sat, Feb 28, 2015 1:24 AM AEDT
    Greek finance chief: Loan extension deal deliberately vague

    Greece's finance minister says the country's agreement with its European creditors to extend its international loan agreement by four months was intentionally vague to ensure the European countries that ...

  • German Parliament approves Greece's bailout extension Associated Press - Sat, Feb 28, 2015 1:07 AM AEDT
    German Parliament approves Greece's bailout extension

    Germany's Parliament overwhelmingly approved the four-month extension of Greece's financial bailout on Friday, despite unease over the new government in Athens. Lawmakers voted 542-32 to back the bailout ...

  • German inflation back in positive territory AFP - Sat, Feb 28, 2015 12:18 AM AEDT
    German inflation back in positive territory

    Inflation in Germany, Europe's biggest economy, was back in positive territory in February with consumer prices rising by 0.1 percent, official data showed on Friday. The previous month, the consumer price index had fallen for the first time in five years, dropping by 0.4 percent as a result of lower energy prices. According to the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany remained in negative territory, slipping by 0.1 percent year-on-year in February, way under the ECB's annual inflation target of just below 2.0 percent.

  • Lloyds to pay dividend for first time since being bailed out Associated Press - Fri, Feb 27, 2015 10:22 PM AEDT

    London-based Lloyds Banking Group passed a milestone Friday in its recovery from the financial crisis, reporting an annual profit and announcing plans to pay a dividend for the first time since it was ...

  • RBA expected to cut rates again AAP - Fri, Feb 27, 2015 9:36 PM AEDT
    RBA expected to cut rates again

    A growing band of top economists expect the Reserve Bank to take a razor to interest rates again next week, amid further signs the economy is deteriorating. All 17 economists surveyed by AAP expect the RBA will deliver at least one more rate cut in 2015, taking the cash rate to a new record low of two per cent. Commonwealth Bank, ANZ, Westpac and AMP Capital are among those forecasting a March cut, with the general consensus being the RBA tends to deliver cuts in pairs. It's normally two," Commonwealth Bank senior economist Michael Workman said.

  • Erie Indemnity posts 4Q profit Associated Press - Fri, Feb 27, 2015 9:13 PM AEDT

    On a per-share basis, the Erie, Pennsylvania-based company said it had profit of 48 cents. The insurance company posted revenue of $337 million in the period. For the year, the company reported profit ...

  • Does employer match count toward 401(k) limit? Bankrate.com - Fri, Feb 27, 2015 9:00 PM AEDT

    Do employer contributions to a 401(k) plan count against the maximum limits you can contribute to the plan? Do they affect the amount you can put into a traditional or Roth IRA? The employer matching contributions don't count toward the maximum limits that you can contribute to a 401(k) plan. There is, however, a combined contribution limit of $52,000 for the employer and employee contributions in 2014.

  • Can I say no to rental car insurance? Bankrate.com - Fri, Feb 27, 2015 9:00 PM AEDT

    My wife and I recently planned a trip, and when she was reserving the rental car online, the form asked if we wanted insurance coverage. I thought the car insurance that rental car companies sold was just a way for them to make a few extra dollars, but my wife is concerned we shouldn't be going without. How important is it to buy the insurance the car rental company is offering? Having insurance on your rental car isn't important at all -- assuming nothing happens!

  • Home construction loans and how they work Bankrate.com - Fri, Feb 27, 2015 9:00 PM AEDT

    Can you explain how construction loans work? Construction loans for new-built homes are either obtained by the homebuilder or prospective owner. Let's proceed on the assumption that you're taking out an individual construction loan. Construction loans are typically short term with a maximum of one year, and have variable rates that move up and down with the prime rate.

  • German Parliament to vote on Greek bailout deal Associated Press - Fri, Feb 27, 2015 8:15 PM AEDT
    German Parliament to vote on Greek bailout deal

    Germany's finance minister brought a proposed four-month bailout extension for Greece before Parliament Friday, telling lawmakers the measure was in Europe's best interest. "This is not about new ...

  • Greek PM vows to 'start working hard' after German vote AFP - Fri, Feb 27, 2015 6:43 PM AEDT
    Greek PM vows to 'start working hard' after German vote

    Greek Prime Minister Alexis Tsipras vowed Friday to "start working hard" to implement vital reforms in the stricken eurozone country, after Germany's parliament approved a four-month extension to its bailout. "The German parliament gave Europe a vote of confidence today... Europe has now recognised that Greece has turned a new page... We start working hard, in order to change Greece within a Europe that changes direction," he added.

  • German inflation bounces back in February AFP - Fri, Feb 27, 2015 3:24 PM AEDT
    German inflation bounces back in February

    Inflation in Germany, Europe's biggest economy, was back in positive territory in February with consumer prices rising by 0.1 percent, official data showed on Friday. The previous month, the consumer price index had fallen for the first time in five years, dropping by 0.4 percent as a result of lower energy prices. According to the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany remained in negative territory, slipping by 0.1 percent year-on-year in February, way under the ECB's annual inflation target of just below 2.0 percent. The February data are still only preliminary, since they are based on consumer price statistics from only six out of Germany's 16 regional states.

  • Greece's Varoufakis says EU deal a 'fig leaf' AFP - Fri, Feb 27, 2015 1:08 PM AEDT
    Greece's Varoufakis says EU deal a 'fig leaf'

    Greece's maverick Finance Minister Yanis Varoufakis on Friday called a hard-fought EU deal securing a bailout extension a "fig leaf" vaguely worded "deliberately" to secure approval by European parliaments. "We are proud of the level of vagueness" in the agreement signed with eurozone finance ministers this week, Varoufakis told Antenna TV. "The deal was a fig leaf to conclude the Eurogroup and dispense with the fiscal agreement (Greece's bailout deal)," Varoufakis said, according to transcripts of the interview on Antenna's website.

  • Greek stocks shed 4.5% in midday trade AFP - Fri, Feb 27, 2015 1:02 PM AEDT
    Greek stocks shed 4.5% in midday trade

    Greece's main stock index fell 4.5 percent Friday amid uncertainty over the radical government's reform plans and its ability to meet its financing needs. The Athens stock exchange was down to 863 points as the government raced to find over 1.5 billion euros ($1.7 billion) to pay the International Monetary Fund next month. The government hopes that the European Central Bank will rescue Greece by handing over 1.9 billion euros in profits made on Greek bonds. "The ECB could simply hand over this money to the IMF," Varoufakis told Bloomberg TV earlier this week.

  • Greek finance minister Yanis Varoufakis warns Germany to respect sovereignty as financial reforms face … ABC - Fri, Feb 27, 2015 12:32 PM AEDT

    Greek finance minister Yanis Varoufakis has warned Germany to respect his nation's sovereignty as proposed bailout reforms go in front of the parliament in Berlin. In a test vote on the eve of the official vote in the Bundestag, German MPs indicated they would overwhelmingly pass the reform program that Athens hammered out with its creditors last week to extend the Greek bailout. Mr Varoufakis, a Greek-Australian who used to teach economics at the University of Sydney, says trust between Greece and Germany is low.

  • Germany unblocks Greek bailout in parliament vote AFP - Fri, Feb 27, 2015 11:37 AM AEDT
    Germany unblocks Greek bailout in parliament vote

    German lawmakers approved a hard-won bailout extension for Greece Friday in a move Germany's finance chief called "not easy" but necessary, lifting the last hurdle to keeping a crucial lifeline open to Athens. Greece's left-wing Prime Minister Alexis Tsipras welcomed the German vote as "a political act of common sense and democracy", pledged to get to work on reforms, and suggested it was a victory for his anti-austerity cause. He promised that now his month-old government would "start working hard, in order to change Greece within a Europe that changes direction". The four-month bailout extension for Greece, approved by eurozone finance ministers Tuesday, averts a potentially calamitous end-February deadline that could have seen Athens default and exit from the euro.

  • US probe delays Barclays forex settlement Financial Times - Fri, Feb 27, 2015 10:42 AM AEDT

    A New York banking regulator's probe of Barclays' foreign exchange trading business is holding up a settlement of currency rate rigging allegations that other US and UK authorities are close to resolving, ...

  • AmEx adds perks to popular charge card, but increases fee Associated Press - Fri, Feb 27, 2015 10:30 AM AEDT

    American Express will increase the annual fee on some of its most popular charge cards, the company said Thursday, but the company also increased some of those cards' benefits as well. It's the latest ...

  • Is HSBC too big to manage? AAP - Fri, Feb 27, 2015 10:01 AM AEDT

    HSBC, Europe's biggest bank, has endured a string of scandals and paid billions in penalties to regulators around the world. MPs on the UK Parliament's Treasury Committee peppered HSBC Chairman Douglas Flint and Chief Executive Stuart Gulliver on Wednesday with questions about personal accountability amid allegations that its Swiss private bank helped wealthy clients, including as many as 1,000 Britons, evade taxes.

  • Pope's finance czar under scrutiny over spending expose Associated Press - Fri, Feb 27, 2015 9:19 AM AEDT

    Pope Francis' finance czar is coming under intense scrutiny after ruffling feathers at the Vatican as he seeks to impose order on its unruly finances. Italian weekly L'Espresso reported in its Friday editions ...

  • Lloyds Banking Group returns to profit AFP - Fri, Feb 27, 2015 8:51 AM AEDT
    Lloyds Banking Group returns to profit

    Lloyds Banking Group has posted its first annual profit since a 2008 bailout by the British government, edging it closer to a return to full private ownership, results showed Friday. LBG recorded a profit after tax of £1.125 billion ($1.74 billion, 1.55 billion euros) last year compared with a net loss of 838 million in 2013, the bank said in an earnings statement -- in a boost also to Prime Minister David Cameron ahead of Britain's general election in May. Chief executive Antonio Horta-Osorio said the results showed how Lloyds Banking Group had been transformed over time "into a low cost, low risk, UK focused retail and commercial bank". Britain still owns a large chunk of Lloyds after bailing it out with £20 billion of taxpayers' cash at the height of the 2008 global financial crisis.

  • AmEx ups fee on one of its most popular charge cards Associated Press - Fri, Feb 27, 2015 8:47 AM AEDT

    American Express is increasing the annual fees on some of its most popular charge cards. The fee on the Gold Card will go to $160 a year, from the current $125 a year. The Premier Rewards Gold Card will ...

  • The Best Time to Refinance The Wall Street Journal - Fri, Feb 27, 2015 4:17 AM AEDT

    When mortgage broker Mathew Carson saw interest rates fall unexpectedly in January, he picked up the phone and called every home buyer he had worked with since the summer. “My refinance business is 50% better than this time last year,” says Mr. Carson, of San Francisco, Calif.-based First Capital Group. In a winter surprise, average interest rates for 30-year jumbo fixed-rate mortgages dropped below 4% for five weeks from the week ending Jan. 9 through Feb. 6, according to HSH.com, a mortgage-information website. As a result, refinance applications for jumbos and other mortgage types skyrocketed nationally by 49% in the week ending Jan. 9, the largest weekly gain since November 2008, according to the Mortgage Bankers Association.

  • Cowen posts 4Q profit Associated Press - Fri, Feb 27, 2015 4:14 AM AEDT

    The bank, based in New York, said it had earnings of $1.21 per share. Earnings, adjusted for non-recurring gains, came to 16 cents per share. The financial services company posted revenue of $121.1 million ...

  • Inside PayPal's Microlending Program Entrepreneur - Fri, Feb 27, 2015 4:00 AM AEDT
    Inside PayPal's Microlending Program

    Microloans can mean mega profits.

  • CD rates for Feb. 26, 2015 Bankrate.com - Thu, Feb 26, 2015 9:00 PM AEDT

    Interest Rate Roundup Compare CD rates nationally and in your area. CDs 1-year CD yields: 0.27% 5-year CD yields: 0.87% Rates on certificates of deposit barely changed in this week's rate survey. The average ...

  • Sick of checking fees? Check out credit unions Bankrate.com - Thu, Feb 26, 2015 9:00 PM AEDT

    Thinking about moving your checking account to dodge fees? You're twice as likely to find free checking at a credit union than a bank, according to a new study by Bankrate.com.