Financial

  • Home loans rose 0.9% in Sept AAP - Tue, Nov 15, 2016 1:09 PM AEDT
    Home loans rose 0.9% in Sept

    Home loans for owner-occupiers rose 0.9 per cent to $19.9 billion in September. Meanwhile, the value of new personal loans was down 0.3 per cent to $6.8 billion in the month, according to seasonally adjusted ...

  • Eliminate Your Debt Without Changing Your Lifestyle U.S.News & World Report - Fri, Sep 18, 2015 10:35 PM AEST

    When you are in debt, it can be very overwhelming. Often the pressures of debt can motivate you to make a plan to pay it off sooner than if you just made the minimum payments required by your lender. I ...

  • Investors may become owner occupiers AAP - Fri, Sep 18, 2015 2:54 PM AEST

    Tougher lending conditions may prompt some property investors to instead become owner occupiers, the central bank boss predicts. Reserve Bank of Australia governor Glenn Stevens says regulatory measures to curb growth in investment home loans are doing their job. "I predict that we will now see a number of people who used to call themselves investors are going to call themselves owner occupiers because the relative pricing has changed," Mr Stevens told a federal parliamentary committee on Friday.

  • Refugee crisis reignites EU budget debate AAP - Fri, Sep 18, 2015 11:12 AM AEST

    The soaring costs of handling the unprecedented influx of refugees into Europe have opened up new fault lines within the EU in its never-ending debate about the bloc's budget rules. In the past, Germany, as the self-appointed arbiter of fiscal rectitude, has tended to find itself pitted against countries such as France and Italy in the constant tug-of-war over spending targets. "It is not fair if those member states that are particularly humane and take on the task and cost of looking after the asylum-seekers are punished by Brussels for excessive spending," Vienna's finance minister Hans-Joerg Schelling said.

  • New rules impacting investor loans: RBA AAP - Fri, Sep 18, 2015 11:06 AM AEST

    Some property investors may become owner occupiers as regulatory measures to curb growth in investment lending have an impact, the Reserve Bank of Australia says. RBA governor Glenn Stevens says the evidence is that the measures are doing their job, adding that it is not about controlling house prices but rather ensuring there are prudent lending standards. Mr Stevens said the flow of new lending to investors is not continuing to increase the way it was, and the rate of growth will gradually come back to the regulator's 10 per cent `speed limit' on investor lending growth.

  • US will raise rates soon: RBA's Stevens AAP - Fri, Sep 18, 2015 10:43 AM AEST
    US will raise rates soon: RBA's Stevens

    The Reserve Bank boss is confident that the US central bank will raise its interest rate before Christmas. The Federal Reserve on Friday kept its interest rate unchanged amid worries about the slowdown in China and its impact on the US economy. RBA governor Glenn Stevens said when the Fed does make its first rate hike in nine years it will be the most anticipated interest rate move he's ever seen.

  • RBA to talk up economic outlook AAP - Fri, Sep 18, 2015 7:30 AM AEST
    RBA to talk up economic outlook

    Reserve Bank governor Glenn Stevens will come to Canberra with a positive slant on the economic outlook when he faces politicians for his six-monthly grilling. The US central bank will have concluded its crucial two-day meeting just hours before Mr Stevens fronts the House of Representatives economics committee for the three-hour hearing on Friday morning.

  • To Encourage Crowdfunding, Change the Definition of an Investment Company Entrepreneur - Fri, Sep 18, 2015 1:15 AM AEST
    To Encourage Crowdfunding, Change the Definition of an Investment Company

    Equity crowdfunding is hampered by regulations designed to curb stock-market abuse.

  • 5 Ways to Make Retirement Planning Easier U.S.News & World Report - Fri, Sep 18, 2015 12:13 AM AEST
    5 Ways to Make Retirement Planning Easier

    Developing a retirement plan will allow you to one day walk away from your job and have complete control over your time. Here are five ways to simplify the retirement planning process. You get to decide how much of your salary you put in a retirement account every year.

  • Refugee crisis reignites EU debate over budget rules AFP - Thu, Sep 17, 2015 6:58 PM AEST
    Refugee crisis reignites EU debate over budget rules

    The soaring costs of handling the unprecedented influx of refugees into Europe have opened up new fault lines within the EU in its never-ending debate about the bloc's budget rules. In the past, Germany, as the self-appointed arbiter of fiscal rectitude, has tended to find itself pitted against countries such as France and Italy in the constant tug-of-war over spending targets. "It is not fair if those member states that are particularly humane and take on the task and cost of looking after the asylum-seekers are punished by Brussels for excessive spending," Vienna's finance minister Hans-Joerg Schelling said.

  • Foreign holdings of US Treasury securities drop in July Associated Press - Thu, Sep 17, 2015 6:54 AM AEST
    Foreign holdings of US Treasury securities drop in July

    Foreign holdings of U.S. Treasury securities fell again in July as China, the biggest foreign owner of U.S. government debt, cut back its holdings. The Treasury Department said Wednesday in its monthly ...

  • 5 End-Of-Summer Planning Tips for Boomers U.S.News & World Report - Thu, Sep 17, 2015 12:30 AM AEST

    No matter who you are, here are five things you can do to be more prepared for your current or future retirement. Put together your "written" financial plan. The financial plan is the best place to start.

  • PM urges Finns to accept austerity in rare TV appeal AFP - Wed, Sep 16, 2015 7:52 PM AEST
    PM urges Finns to accept austerity in rare TV appeal

    Finland's centrist Prime Minister Juha Sipila urged Finns to accept the government's harsh austerity measures in a rare televised address to the nation on Wednesday. "The Finnish state has contracted debt at a rate of almost a million euros ($1.13 million) per hour for seven years, day and night, every day of the week. Sipila's speech came a week after his pro-austerity, centre-right coalition government announced a series of tough austerity measures to revive the eurozone member's slumping economy after three years of recession.

  • 1 in 10 Aussies facing debt until they die AAP - Wed, Sep 16, 2015 4:22 PM AEST
    1 in 10 Aussies facing debt until they die

    One in 10 Australians fear they'll owe money until the end of their life. Record low interest rates and an abundance of attractive credit card deals have created a culture of easy debt living, money expert at comparison site Finder.com.au Michelle Hutchinson said. "The level of personal, household debt is growing in Australia and it seems that more people are just accepting of the fate that they'll always be in debt for most of their life," she said.

  • Hockey busy while he awaits his fate AAP - Wed, Sep 16, 2015 12:30 PM AEST
    Hockey busy while he awaits his fate

    Treasurer Joe Hockey isn't sitting on his hands waiting for Malcolm Turnbull to decide his future. Amid speculation he will be the highest-profile casualty of a ministerial reshuffle the new prime minister will unveil on Monday, Mr Hockey brought to parliament tax-avoidance measures aimed at multinational corporations.

  • Hockey busy while he waits his fate AAP - Wed, Sep 16, 2015 10:58 AM AEST
    Hockey busy while he waits his fate

    Treasurer Joe Hockey isn't sitting on his hands waiting for Malcolm Turnbull to decide his future. Amid speculation he will be the highest-profile casualty of a ministerial reshuffle the new prime minister will unveil on Monday, Mr Hockey brought to parliament tax-avoidance measures aimed at multinational corporations.

  • The Perils of Short-Term Business Loans Entrepreneur - Wed, Sep 16, 2015 7:00 AM AEST
    The Perils of Short-Term Business Loans

    Sometimes it makes sense to take a loan at brutal interest rates. More often, it's a sign the business is failing and the time has come to cut losses.

  • GE says it may move up to 500 US jobs overseas Associated Press - Wed, Sep 16, 2015 6:33 AM AEST
    GE says it may move up to 500 US jobs overseas

    General Electric Co. said Tuesday that it may move about 500 jobs overseas because Congress did not renew a government program that allows foreign companies to borrow money to buy U.S. products. Authorization ...

  • 11 Ways Homeowners Can Fund Major Home Improvements U.S.News & World Report - Wed, Sep 16, 2015 1:56 AM AEST

    Home improvements can be expensive, which isn't news to most homeowners. If you plan to stay in your home and don't have cash, how can you pay for home improvements? "It depends on the circumstances," says Casey Fleming, author of "The Loan Guide: How to Get the Best Possible Mortgage" and a mortgage professional in the San Francisco Bay Area.

  • Is Your Credit Card Worth the Annual Fee? U.S.News & World Report - Tue, Sep 15, 2015 11:35 PM AEST

    Credit cards with annual fees often promise big perks and more rewards per dollar -- but if you're not planning on spending thousands on your credit card, you could end up in the red. Among the 2,202 credit cards NerdWallet examined in its 2015 industry study, the average annual fee was $58. Wondering whether your annual fee card is a keeper?

  • RBA in wait and see mode on rates AAP - Tue, Sep 15, 2015 1:48 PM AEST
    RBA in wait and see mode on rates

    The Reserve Bank appears content to keep its interest rate at a record low for the time being as Australia's non-mining industries begin to show signs of improvement. Minutes from the RBA's September meeting, when the cash rate was kept on hold at 2.0 per cent, noted improvements in hiring intentions in the services sector and that non-mining business investment was expected to pick up.

  • China grapples with risk of economic hard landing AFP - Sun, Sep 13, 2015 4:38 PM AEST
    China grapples with risk of economic hard landing

    When Chinese Premier Li Keqiang sought to reassure business leaders that the world's second-largest economy can avoid a hard landing, he acknowledged mounting fears of exactly that, and analysts say the adjustment to slower growth will be painful. Just six months ago Li set a 2015 economic growth target of "around seven percent", confidently telling lawmakers that the economy was adjusting to a "new normal".

  • Eurogroup chief rules out Greek debt deal renegotiation Associated Press - Sun, Sep 13, 2015 12:23 AM AEST
    Eurogroup chief rules out Greek debt deal renegotiation

    The head of the euro currency group of countries has ruled out any renegotiation of the massive loan program meant to save Greece's economy, a week ahead of general elections there. Greeks go to the polls ...

  • Eurozone downplays Greece vote worries AFP - Sat, Sep 12, 2015 5:53 PM AEST
    Eurozone downplays Greece vote worries

    The eurozone's top finance officials on Saturday downplayed the risk of surprises after Greece's election next weekend, setting their sights instead on fraught bailout talks ahead, including restructuring Greek debt. The EU's economics affairs commissioner Pierre Moscovici said he had "no worries" over the outcome of the September 20 vote, which opinion polls show the radical leftists of ex-premier Alexis Tsipras fractionally ahead of the New Democracy conservatives. "I have the impression, including when I see the polls, that there is a clear majority in Greece for parties that backed the (bailout)," Moscovici said at talks with European finance ministers in Luxembourg.

  • Troubled Puerto Rico power company seeks private investors Associated Press - Sat, Sep 12, 2015 7:35 AM AEST

    Puerto Rico's heavily indebted power company is reaching out to the private sector to help upgrade its aging infrastructure and lessen its reliance on oil. The Electric Power Authority says it will be ...

  • How Your Retirement Nest Egg Is Being Nickel-and-Dimed By Fees U.S.News & World Report - Sat, Sep 12, 2015 1:54 AM AEST

    How would you like to have an extra $155,000 to spend during your retirement years? Yoav Zurel, CEO of cost assessment website FeeX.com, says you could have at least a portion of that if you worked on minimizing your 401(k) fees. "One-hundred and fifty-five thousand dollars are basically evaporating from your retirement savings," Zurel says.

  • Ahead of the Bell: US budget deficit Associated Press - Fri, Sep 11, 2015 9:22 PM AEST
    Ahead of the Bell: US budget deficit

    The Treasury Department releases federal budget data for August at 2 p.m. Eastern on Friday. LOWER DEFICIT: The Congressional Budget Office expects the August deficit to drop to $62 billion, $66 billion ...

  • CBA customers vent over system failure AAP - Fri, Sep 11, 2015 8:05 PM AEST
    CBA customers vent over system failure

    Commonwealth Bank services have returned to normal after a problem with electronic transactions left customers stranded in the midst of the morning rush hour, unable to pay for purchases. The technical problem, which lasted for about three hours on Friday morning, affected credit cards, EFTPOS, net banking and travellers cards. CBA customers struggled to make payments in shops and cafes, and were quick to vent on social media.

  • CBA's $5b raising hit by volatile markets AAP - Fri, Sep 11, 2015 3:14 PM AEST
    CBA's $5b raising hit by volatile markets

    Commonwealth Bank's shortfall in raising $5 billion in capital from its shareholders highlights a lukewarm response from investors towards the sector, analysts say. Shares in Australia's biggest bank were halted from trade on Friday as the lender said it would offer around $1.5 billion in shares in a retail bookbuild. Only about half of the shares from an expected $3 billion rights entitlement offer were taken up by CBA's retail shareholders, despite the stock being offered at a discounted rate.

  • US average rate on 30-year home loans rises to 3.90 percent Associated Press - Fri, Sep 11, 2015 4:33 AM AEST

    Average U.S. long-term mortgage rates inched up this week as financial markets awaited the Federal Reserve's crucial decision next week on interest rates. Here's a look at rates for fixed- and adjustable-rate ...

  • RBNZ cuts OCR further cut 'likely' AAP - Thu, Sep 10, 2015 5:40 PM AEST

    The Reserve Bank of New Zealand has cut its official cash rate, as expected, and says a further easing seems likely. Governor Graeme Wheeler cut the OCR a quarter point to 2.75 per cent, saying the reduction was warranted because of the softening New Zealand economy. "Headline inflation is expected to return well within the target range by early 2016, as the earlier petrol price decline drops out of the annual inflation calculation, and as the exchange rate depreciation passes through into higher tradables prices," Mr Wheeler said.

  • 4 Great Checking Accounts for College Students U.S.News & World Report - Thu, Sep 10, 2015 12:00 AM AEST

    College freshmen are striking out on their own for the first time in their lives. It only takes a few missteps to generate four or five digit credit card debt or pay hundreds of dollars in senseless bank fees. Here are four checking account options for students -- and parents -- that can help avoid fees and negate bad money decisions.

  • Banks accounts to lay idle for seven years AAP - Wed, Sep 9, 2015 9:54 AM AEST

    Australians who aren't actively using their bank accounts will have an extra four years before having to retrieve their cash from the government. Legislation to reverse the Labor-imposed three-year deadline ...

  • Greece to look at recapitalising banks after election AFP - Wed, Sep 9, 2015 7:12 AM AEST
    Greece to look at recapitalising banks after election

    Greece will set up a working group with officials from its "troika" of creditors to look at ways of supporting its fragile banking system after this month's election, the economy ministry said. "The economy ministry, in collaboration with Greece's central bank, decided Tuesday to establish a working group on the recapitalisation of the banks," the ministry said in a statement. The group will contain lawyers, experts and representatives from the European Union, European Central Bank and International Monetary Fund -- the so-called "troika" of creditors loathed by many Greeks after years of painful austerity.

  • What You Need to Know About the 3 Biggest Global Payment Methods Entrepreneur - Wed, Sep 9, 2015 6:00 AM AEST
    What You Need to Know About the 3 Biggest Global Payment Methods

    Recent new technologies will join the roughly 200 different types of electronic-payment methods that currently permeate our world. With so many options and use cases, it can be daunting for any global ...