Financial

  • RBS forced to scrap plans to pay bonuses at up 200% of salary Financial Times - 1 hour 42 minutes ago

    The government has forced Royal Bank of Scotland to scrap plans to pay bonuses at up to 200 per cent of bankers' salaries, provoking a blunt warning from the state-owned lender that the move would carry ...

  • Timber assets of collapsed company Gunns sell for $330m ABC - 6 hours ago
    Timber assets of collapsed company Gunns sell for $330m

    A Sydney-based forestry investment company has bought the timber assets of collapsed Tasmanian company Gunns for $330 million. The ABC understands New Forests has bought the timber business, which includes Gunns' plantations and access to the port in Burnie. Six companies from the Australia, the UK, US and Asia were among the final bidders for Gunns' assets. It is expected the receivers will announce sale of the timber business early next week.

  • Final Glance: Insurance companies Associated Press - 10 hours ago

    Shares of some top insurance companies were mixed at the close of trading: ACE L rose $.64 or .6 percent, to $102.12. Aflac Inc. fell $.54 or .9 percent, to $62.16. American International Group rose $.85 ...

  • Biggest Mistakes Investors Make Kiplinger - 11 hours ago

    In the stock market, as in life, nothing is certain. At Kiplinger, we believe everyone, whether you're just beginning a career or already enjoying retirement, can earn solid returns in the stock market. True investing relies on contributing regular amounts at regular intervals, in both rising and falling markets, to a thoroughly researched, diversified portfolio of stocks, funds and bonds, says our editor-in-chief, Knight Kiplinger. How long should you stick with an investment?

  • Money market fund assets rose by $7.32 billion Associated Press - 13 hours ago

    Total U.S. money market mutual fund assets rose by $7.32 billion to $2.58 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets in the nation's retail money ...

  • Midday Glance: Insurance companies Associated Press - 15 hours ago

    Shares of some top insurance companies are mixed at 1 p.m.: ACE L rose $.31 or .3 percent, to $101.79. Aflac Inc. fell $.48 or .8 percent, to $62.22. American International Group rose $1.03 or 2.0 percent, ...

  • M&A News: Valeant, Pershing Square Capital, Allergan, QIC, AES BusinessWeek - 15 hours ago

    Allergan has a suitor; funding for Airbnb; and more

  • Argentina's Congress approves $5B Repsol indemnity Associated Press - 16 hours ago
    Argentina's Congress approves $5B Repsol indemnity

    Argentina is hoping to have an easier time attracting international investors to exploit its oil and gas fields now that lawmakers have agreed to pay $5 billion to the Spanish company Grupo Repsol for ...

  • Average US 30-year mortgage rate up to 4.33 pct Associated Press - 17 hours ago
    Average US 30-year mortgage rate up to 4.33 pct

    Average U.S. rates on fixed mortgages rose this week as the spring home-buying season has gotten off to a slow start. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan ...

  • 5 Ways to Save for a One-Time Expense US News - 19 hours ago

    One of the best ways to earmark money for one-off expenses is to open a savings account -- or even multiple savings accounts -- just for these expenses. So the next time your boss gives you a great review and a hefty check to boot, deposit it into your separate savings account and put it toward that car engine replacement or urgent care visit you weren't expecting.

  • Eurozone to pay out last tranche of Portugal aid funds in June AFP - 21 hours ago
    Eurozone to pay out last tranche of Portugal aid funds in June

    Portugal will receive its last tranche of aid funds form the eurozone in June, the bloc's rescue fund EFSF said Thursday, as the debt-hit country gets ready to emerge from a multi-billion euro bailout programme. "As we approve the final EFSF disbursement to Portugal, I am very pleased to see the country?s achievements under the financial assistance programme," said Klaus Regling, who heads the European Financial Stability Facility (EFSF). "Three years ago Portugal had lost market access. Portugal had obtained a rescue package worth 78 billion euros three years ago to avert default, after decades of ballooning wages and state spending led to a massive build-up of public debt.

  • National mortgage rates for April 24, 2014 Bankrate.com - 22 hours ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best mortgage rates in your area. Mortgages 4.48% (30-year fixed) 0.30 (average points) Mortgage rates increased this week ...

  • How long will a judgment stay on your credit? Bankrate.com - 22 hours ago

    I have a judgment and collections account on my credit report for an old debt. The content is broad in scope and does not consider your personal financial situation.

  • Home equity loan rates for April 24, 2014 Bankrate.com - 22 hours ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best home equity rates in your area. Home Equity 4.92% (line of credit) 6.21% (loan) Rates on loans backed by home equity ...

  • Auto loan rates for April 24, 2014 Bankrate.com - 22 hours ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best auto rates in your area. Auto Loans 4.22% (60-month, new car) 4.79% (36-month, used car) Rates on new and used car ...

  • Where will mortgage rates head next week? Bankrate.com - 22 hours ago

    Will rates go up, down or remain unchanged? Intro Up 50% Down 25% Unchanged 25% Panel Prediction Up Down Unchanged 50% 25% 25% This week (April 24-30), half of the panelists believe mortgage rates will ...

  • CD rates for April 24, 2014 Bankrate.com - 22 hours ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Compare CD rates nationally and in your area. CDs 0.24% (1-year CD yields) 0.8% (5-year CD yields) There were a couple of changes ...

  • Credit card interest rates for April 24, 2014 Bankrate.com - 22 hours ago

    Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best credit card offers available. Credit Cards 13.02% (all fixed) 15.61% (all variable) Rates on credit cards were again ...

  • 4 signs a financial adviser isn't on your side Bankrate.com - 22 hours ago

    Your adviser doesn't have to be a junior Bernie Madoff to cost you a fortune. Fee-based advisers may accept commissions or other compensation from the companies whose products they recommend.

  • Mortgage rates rise as home sales stumble Bankrate.com - 22 hours ago

    It's unlikely that rates will continue to climb in coming days, as they have been following a seesaw pattern, says Pava Leyrer, director of training for Northern Mortgage Services in Grandville, Mich. Rates following the stock market Mortgage rates once again seem to be fluctuating at the same pace as the stock market, says Brett Sinnott, director of secondary marketing for CMG Mortgage in San Ramon, Calif. "For the first time in a few years, mortgage rates are following stocks again," he says.

  • Spanish PM hails 'rebuilt' economy AFP - Thu, Apr 24, 2014 6:08 PM AEST
    Spanish PM hails 'rebuilt' economy

    Spanish Prime Minister Mariano Rajoy boasted of a "rebuilt" economy Thursday as fresh data showed the nation's strongest growth rate since a job-wrecking 2008 property crash. The eurozone's fourth-largest economy expanded by 0.4 percent on a quarterly basis in the first three months of 2014, the sharpest increase in six years, the Bank of Spain said in a report, citing initial data. It was the strongest performance since the first quarter of 2008, when Spain was at the tail end of a decade-long property bubble whose collapse wiped out millions of jobs and flooded the nation in debt. "We have rebuilt our economy in record time, we have better foundations and the wind is blowing in our favour," Prime Minister Mariano Rajoy said in a speech in Barcelona.

  • Spain shows fastest growth in six years: central bank AFP - Thu, Apr 24, 2014 4:45 PM AEST
    Spain shows fastest growth in six years: central bank

    Spain's economy appears to be growing at the fastest clip since a 2008 property crash tipped the nation into a job-wrecking, double-dip recession, the central bank said Thursday. The eurozone's fourth-largest economy expanded by 0.4 percent on a quarterly basis in the first three months of this year, the sharpest increase in six years, the Bank of Spain said in a report, citing initial data. It was the strongest performance since the first quarter of 2008, when Spain was at the tail end of a decade-long property bubble whose collapse wiped out millions of jobs and flooded the nation in debt. "We have rebuilt our economy in record time, we have better foundations and the wind is blowing in our favour," Prime Minister Mariano Rajoy boasted in a speech in Barcelona.

  • Spain shows fastest growth in six years, central bank says AFP - Thu, Apr 24, 2014 12:47 PM AEST
    Spain shows fastest growth in six years, central bank says

    Spain's economy grew at the fastest rate in six years in the first quarter of 2014 as it pulled out of a long, job-destroying downturn, the central bank said in a preliminary estimate Thursday. The eurozone's fourth-largest economy expanded by 0.4 percent on a quarterly basis, the Bank of Spain said in a monthly report, citing initial data. It was the sharpest quarterly growth rate since the first quarter of 2008 when a decade-long property bubble imploded, tipping the nation into a double-dip recession that wiped out millions of jobs and flooded the nation in debt. "In the first quarter of 2014, the Spanish economy continued on a path of gradual recovery in the context of increasing normalisation on the financial markets and a gradual consolidation of the labour market," the central bank said.

  • Greek milestone helps EU move from crisis AAP - Thu, Apr 24, 2014 10:44 AM AEST

    Europe's debt crisis is receding farther behind in the rear view mirror. Confirmation from the European Union (EU) that Greece has recorded a primary budget surplus was a key requirement for the country to get more debt relief from international creditors. For more than four years, the eurozone has been grappling with a loss of investor confidence stemming from out-of-control public finances in several countries, such as Greece and Spain. However, the tough austerity medicine that involved big spending cuts and tax rises appears to have stabilised the situation.

  • New Zealand Reserve Bank lifts rates for second straight meeting ABC - Thu, Apr 24, 2014 9:58 AM AEST
    New Zealand Reserve Bank lifts rates for second straight meeting

    The Reserve Bank of New Zealand has raised interest rates for the second month in a row, in a foretaste of what may be to come for Australia within the next year. The RBNZ raised its overnight cash rate target by 25 basis points to 3 per cent, as was almost universally expected by market economists. Only two months ago, New Zealand's cash rate was the same as Australia's at lows of 2.5 per cent, but rising inflation, strong dairy prices and a housing boom have all combined to persuade the central bank that rates need to be higher to keep inflation in check. The RBNZ's governor Graeme Wheeler says New Zealand's economy is likely to be growing at about 3.5 per cent per annum, ahead of Australia's most recent growth reading of 2.8 per cent in the December quarter.

  • Ex-CEO admits stealing from prominent NYC charity Associated Press - Thu, Apr 24, 2014 5:14 AM AEST

    The politically connected former CEO of a prominent city charity admitted Wednesday he helped steal more than $9 million from the organization in an insurance scheme that authorities linked to campaign ...

  • Greek milestone helps Europe put crisis in past Associated Press - Thu, Apr 24, 2014 2:57 AM AEST
    Greek milestone helps Europe put crisis in past

    Europe's debt crisis is receding farther behind in the rear view mirror. Led by good news from Greece, the eurozone on Wednesday notched up several key milestones that together indicate stronger government ...

  • My Herbalife short is looking much better: Ackman CNBC - Thu, Apr 24, 2014 2:09 AM AEST
    My Herbalife short is looking much better: Ackman

    Bill Ackman tells CNBC that his losses from betting against Herbalife have been "more than cut in half" based on the recent downturn of the company's stock.

  • Early Glance: Insurance companies Associated Press - Thu, Apr 24, 2014 12:29 AM AEST

    Shares of some top insurance companies are mixed at 10 a.m.: ACE L rose $.49 or .5 percent, to $101.53. Aflac Inc. fell $.23 or .4 percent, to $62.55. American International Group rose $.20 or .4 percent, ...

  • I did not front-run Allergan stock, Ackman says CNBC - Wed, Apr 23, 2014 11:40 PM AEST
    I did not front-run Allergan stock, Ackman says

    Activist investor Bill Ackman also tells CNBC that Allergan's adoption of a poison-pill defense does not necessarily make the takeover bid more difficult.

  • Greece hits milestone, opens way for debt relief Associated Press - Wed, Apr 23, 2014 10:26 PM AEST
    Greece hits milestone, opens way for debt relief

    Greece has reached a major financial milestone that its creditors demanded as a precondition for being granted more debt relief, the European Commission said Wednesday. Additional help from its bailout ...

  • Yields fall sharply in Portuguese debt auction Associated Press - Wed, Apr 23, 2014 10:24 PM AEST
    Yields fall sharply in Portuguese debt auction

    Portugal's chances of ending its three-year bailout program without requiring more help have increased after interest rates fell steeply in a 10-year bond auction Wednesday. The government debt agency ...

  • Greece reaches milestone, opens way for assistance Associated Press - Wed, Apr 23, 2014 9:29 PM AEST

    Greece has reached a major financial milestone that its creditors demanded as a precondition for being granted more debt relief, the European Commission said Wednesday. Additional help from its bailout ...

  • Government finances improved across Europe in 2013 Associated Press - Wed, Apr 23, 2014 8:17 PM AEST

    Governments across the 18-country eurozone made further headway in 2013 in reducing their deficits, official figures showed Wednesday in a further sign that spending cuts and the nascent economic recovery ...

  • Expensive surprise with reverse mortgage Bankrate.com - Wed, Apr 23, 2014 8:00 PM AEST

    When I applied for a reverse mortgage in May 2013, my home was appraised at $252,000. I had a mortgage balance of about $142,963. Within six months, the loan ballooned to $162,000, with interest totaling about $2,557 along with a mortgage insurance premium for $6,129. I'd like to know more about why you sought a reverse mortgage in the first place.