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) At Home: Debt consolidation loans can be shark-infested swim to solvency
To the person drowning in debt, a debt-consolidation loan looks a lot like a lifesaver. But reaching for it without knowing exactly what it's made of could be a serious mistake. The way it's supposed to work: You pay off all your small, high-interest consumer debts with the proceeds of a new low-interest loan whose payment is less than the total of the smaller payments. In theory, consolidation is a terrific solution for a burdensome debt situation. In reality, it can force you into even more treacherous waters. Basically, there are three ways to consolidate: 1. A new low-interest signature (unsecured) loan from an individual, bank or credit union. If you can get it, this type of debt consolidation is ideal. 2. Transferring all of the balances to a new credit card. More>> - (
) AMR Corporation Reports a Third Quarter Profit of $175 Million
FORT WORTH, Texas, Oct. 17 /PRNewswire-FirstCall/ -- AMR Corporation, the parent company of American Airlines, (Nachrichten) Inc., today reported a net profit of $175 million for the third quarter of 2007, or $0.61 per diluted share.As disclosed in AMR's Sept. 21 investor update, the results for the third quarter of 2007 include the impact of a $40 million charge, or $0.13 per diluted share, to reflect an adjustment for additional salary and benefit expense accruals related to years 2003 through 2006 and the first six months of 2007.
The current quarter results compare to a net profit of $15 million for the third quarter of 2006, or $0.06 per diluted share. The year-ago results included a $99 million non-cash charge in Other Income (Expense) to reduce the book value of certain outstanding fuel hedge contracts. More>>
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) Invocas says it is well shielded from debt crisis
SHARES in Scottish debt solution provider Invocas bounced by 7% yesterday as the company reiterated that it was well shielded from the crisis affecting its English counterparts.Invocas shares had fallen by 26% in the previous week after Debtmatters warned that the cutting of the fees paid by banks to advisers to set up individual voluntary arrangements (IVAs) in England and Wales could sink its business model.
The Scottish group, which is listed on the Alternative Investment Market, has constantly sought to reassure investors that its strong market position in the Scottish equivalent of protected trust deeds, and its close relationships with banks, has shielded it from sector pressures.
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) Analysis: Vladimir Putin raises the stakes over missile defence
Vladimir Putin has raised the stakes today in his poker game with George W. Bush over missile defence in eastern Europe. By threatening to tear up a key nuclear agreement, Mr Putin has challenged Mr Bush to weigh his planned missile shield against the value of relations with Russia.His calculation is that a weakened president lacks the political capital in the United States to press ahead with the programme before his term expires next year. Russia's gamble is that a change of administration in the White House will scupper the project entirely.
Mr Putin's manouevres, meanwhile, bolster his support among ordinary Russians, who enjoy seeing their leader standing up to the West. The US knows too that, by becoming Prime Minister after leaving the presidency next March, Mr Putin will be around long after Mr Bush has retired. More>>
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) Nasdaq Strikes Deal With Borse Dubai
By KARL RITTER STOCKHOLM, Sweden (AP) -- The Nasdaq Stock Market is selling a nearly 20 percent stake to Borse Dubai and is taking control of the Nordic exchange operator OMX as part of a sweeping settlement of their battle for control of OMX.In a global stock market shakeup, Borse Dubai and a group from Qatar also moved to become the largest stakeholders in the London Stock Exchange.
The deals announced Thursday would help the U.S.-based Nasdaq avoid a bidding war with cash-rich Borse Dubai for OMX.
But the transactions involving Dubai and Nasdaq could face scrutiny in the United States, where a Dubai-owned company's plan to manage some U.S. ports previously raised an uproar.
The Nasdaq Stock Market Inc. would take control of Stockholm-based OMX while selling to Borse Dubai a one-fifth stake in itself as well as a 28 percent in the London Stock Exchange. More>>