| UBS Buys Standard Chartered's Funds Unit in India | | Posted Monday, January 29, 2007 12:56:35 PM by Blog57 Team | | The Indian acquisition, which is subject to regulatory approval, includes 16 mutual funds, 10 of which are fixed income, two involving "asset allocation" and four in equities, UBS said. The acquisition includes all of the Mumbai- based Standard Chartered Asset Management Company Private as well as Standard Chartered Trustee Company Private, the manager and trustee of the Indian mutual funds offered by the company. .... | |
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| | | Citigroup sees $370 mln loss in Japan finance unit | | Posted Thursday, January 11, 2007 2:57:49 PM by Blog57 Team | | WASHINGTON/TOKYO (Reuters) - Citigroup Inc. (C.N) will close most of its Japanese consumer finance branches and take a $370 million fourth-quarter loss in that unit, hit by law changes that will cut the maximum interest rates on loans. The largest U.S. bank will take a $40 million fourth-quarter charge, including costs, to close 270 out of 320 branches and 100 of 800 automated loan machines. .... | |
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| | | On Personal Finance | A wish list for the new Congress | | Posted Sunday, November 12, 2006 10:57:31 AM by Blog57 Team | | With the Democrats taking control of Congress and President Bush becoming Mr. Cooperative, every interest group in the country will forward its legislative wish list to Washington. So here's mine - the things I'd like done for investors and taxpayers. Some are favored by Republicans, others by Democrats. I offer them without any regard to their effect on the federal budget on the theory that until Jan. 1, we should dream about what ought to be done rather than dwell on what can't. Social Security. Yes, the program will run out of money in a few decades. The best solution is to make the current system solvent by increasing the contribution from employers and removing the cap that exempts income above $94,200 from this tax. Replacing the system with one involving individual investment accounts, as the president proposed a few years ago, puts workers at too much risk.... | |
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| | | Omega joins with Personal Touch | | Posted Friday, November 10, 2006 11:03:04 AM by Blog57 Team | | The new company, Personal Touch Commercial Finance Ltd, will be headed by Omega FS managing director, Kevin Jones. Omega has been in the commercial and residential mortgage market for 11 years and has acted as a specialist packager for many intermediaries who have needed help and advice in placing commercial mortgages as well as conduit for commercial lenders looking to increase their distribution. .... | |
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| | | Reading blogs can provide useful personal finance tips | | Posted Wednesday, November 08, 2006 12:58:19 PM by Blog57 Team | | For a broader look at consumer issues, take a peek at a30-something Bostonians blog: www.bostongalsopenwallet.blogspot.com. Recently cited in a New York Times article, (What Do Women Want? Just Ask), this gals site is a more personal version of Consumer Reports magazine. October highlights include her experience with selling books on e-Bay and the life and death of her car battery. The blog was her answer to the question of how to keep motivated to reach her financial goals. Going public gives her some accountability and perhaps a broader community to assist her. At www.fivecentnickel.com, you can read the money musings of a 30-something family man. This blogger covers the bases on personal finance issues from banking to taxes. Last months musings included tips on how to save on medical care and buying life insurance.... | |
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| | | Dave Ramsey gives readers advice on personal finance | | Posted Wednesday, November 08, 2006 2:57:07 AM by Blog57 Team | | Shannon Buggs talks with the evangelical Christian, personal finance guru about how he avoids hypocrisy and temptation while counseling converts to his all-cash, debt-free lifestyle. His eponymous three-hour radio talk show airs locally on 97.5 FM. Q: You built a $4 million real estate portfolio on borrowed money that you lost when lenders called in your notes. For someone who doesn't experience such dramatic debt crisis, what catalyst works to motivate a permanent financial change? A: It's called pain. And its called pain avoidance. Our goal is to try to generate the disgust not the pain. I don't want to cause pain. I will meet people in the pain and walk with them through it. Q: While paying off your debts, what jobs did you do? A: I went back to real estate and I was flipping deals.... | |
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| | | Third award for Personal Finance editor | | Posted Sunday, November 05, 2006 10:57:58 PM by Blog57 Team | | Personal Finance editor Bruce Cameron has been named the joint Vodacom journalist of the year in the country's most prestigious journalism awards. Cameron shared the award with the Mail & Guardian's investigative team - Stefaans Brummer, Sam Sole and Wisani ka Ngobeni - which uncovered the Oilgate scandal. Cameron received his award for his expose of the secret profits made by Alexander Forbes and other companies that administer retirement funds. Cameron also received the top honour in the financial and economic section. This is the third award Cameron has received this year. He has also received the Sanlam award for excellence in journalism in the personal finance category and the Citadel Words on Money chairman's award. .... | |
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| | | Stolen laptop had personal data on 1,200 college students and staff | | Posted Friday, November 03, 2006 11:03:56 PM by Blog57 Team | | PHILADELPHIA, Pennsylvania (AP) -- A laptop computer stolen from an insurance brokerage firm contained the names, birth dates and driver's license numbers of more than 1,200 Villanova University students and staff members, the school said Thursday. No Social Security numbers were involved, said Kenneth G. Valosky, Villanova's vice president for finance. Hilb, Rogal & Hobbs notified clients, including Villanova, immediately after the company determined what information was on the laptop, which was stolen in September, said Chris Schwyter, the company's senior vice president. The password-protected computer contained data on students and staff members who are insured to drive university vehicles. About three-quarters of those affected were students, said Valosky, whose name was among those in the laptop.... | |
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| | | Fresh charges against former finance manager | | Posted Wednesday, November 01, 2006 10:59:05 PM by Blog57 Team | | PENANG: A former finance manager with a private hospital here was discharged of 40 counts of criminal breach of trust involving RM2.02mil, only to be charged again an hour later. Sessions Court judge Hadhariah Syed Ismail yesterday granted Tan Tiang Guan a discharge not amounting to an acquittal following a preliminary objection raised by his counsel over how the charge was worded. At about 10.30am, deputy public prosecutor Awang Armadajaya Awang Mahmud brought fresh charges against Tan. He pleaded not guilty again. Tan, 38, is alleged to have committed the offences while entrusted with the money in his capacity as finance manager of Adventist Hospital and Clinic Services (M) Bhd. He claimed trial to misappropriating sums of between RM30,000 and RM70,000 for his personal use on 40 different occasions at the Penang Adventist Hospitals accounts office in Jalan Burma between May 11, 2001 and April 16, 2004. Each offence is punishable with a jail term of up to 20 years, whipping and a possible fine upon conviction.... | |
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| | | FSA and teachers' TV collaborate on new personal finance education programmes | | Posted Monday, October 30, 2006 3:02:35 PM by Blog57 Team | | A brand new series of programmes about personal financial education in the classroom will make its debut tonight on Teachers' TV following collaboration between the Financial Services Authority and the channel. The series titled Financial Capability consists of four programmes. Two are designed for use in class as a teaching aid, whilst the other two are designed to build teacher confidence in this subject. The FSA's National Strategy for Financial Capability brings together representatives from industry, consumer bodies, voluntary organisations, government and the media – with the aim of finding ways to help people feel more confident and capable with their money. This latest initiative for Teachers' TV complements the existing programmes offered in the FSA's 'Learning Money Matters' programme which is designed to ensure that millions of children receive high quality financial education in the classroom.... | |
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