- (
) 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>> - (
) Japan's rising son has no plan to illuminate any big picture reform
KIICHI Murashima, chief economist of Nikko Citigroup in Tokyo, has just returned from London. He did not have much fun. After several meetings with investors in both Japanese government bonds and equities, he concluded: "People are losing interest in Japan."Lack of enthusiasm stems partly from the fact that Japan's unexciting growth remains dependent on increasingly unpredictable external demand. But there is also a deeper concern that political paralysis resulting from last month's collapse of Shinzo Abe's administration will lead to policy seizure.
Superficially, such fears are understandable. Last month, Yasuo Fukuda, 71, was hustled into office by a few faction bosses of the ruling Liberal Democratic party. The selection smacked of old-style Japan before Junichiro Koizumi, the prime minister Abe succeeded, who subverted convention by appealing directly to public support. More>>
- (
) Radars On Now
At GoldOz we see the gold and commodities boom coming into clearer focus for mainstream investors thanks to recent events in the credit and housing markets. It is time the broad investment community began waking up in droves to what is happening and this process has barely started. The US Fed has just dropped interest rates by 0.5% which states their concern about the growing US housing slump and the potential effect on the wider US economy. It also states their intent to continue to reduce rates in order to support the stronger areas of the US economy. The Fed has temporarily given up on the USD and their inflation fight. It is certainly high time you switched on your radar on gold stocks if you have not already done so. The US was not a big destination for Australian resources and overall the growth boom in Asia and elsewhere continues. More>> - (
) Nigeria: Jang - Reinventing Plateau As a Haven of Peace
Plateau State which used to be a haven of peace, harmony and tourism buckled down under the last civilian administration amid large-scale ethno-religious crises whose ripple effects reverberated far beyond the confines of the State. The State was virtually on the precipice at the time the current administration came on board on May 29 this year. Nosike Ogbuenyi writes that the administration of Governor Jonah Jang has in a space of four months rekindled hope of a better future for the people on the plateau From Wednesday 3rd to Saturday 6th October, 2007, Governor David Jonah Jang of Plateau State organized an orientation retreat for members of his government including legislators, commissioners, permanent secretaries, special advisers and special assistants to the governor. The three-day retreat which took place at the National Institute, Kuru, near Jos was an event used to reflect soberly on the problems of the immediate past in the State in order to appreciate the magnitude of the tasks ahead. More>> - (
) (AFX UK Focus) 2007-10-16 10:04 GMT: Whitbread reviewing timing and appropriateness of leverage increase UPDATE
(Recasts, adds chief executive, finance director comment from conference call)LONDON (Thomson Financial) - Whitbread PLC said it remains committed to increasing leverage but is continuing to review the timing and appropriateness of any bond issue, which would allow the group to return further cash to shareholders.
In a conference call this morning, finance director Chris Rogers said given the current state of the debt markets, "the timing and appropriateness of any such issue remains unclear".
Rogers added: "As far as I am aware there have been no corporate asset-backed deals in the market in the last six weeks or so. So in terms of us having a greater line of sight as to what's going on, we're no further forward."
He indicated that there is lending in the market to corporates on the back of existing relationships and some mid-market deals but no new large deals. More>>
- (
) 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>>
- (
) 18-10-2007: EPF’s entry galvanises RHB group revamp
KUALA LUMPUR: The Employees Provident Fund's (EPF) entry as the single largest shareholder of RHB Capital Bhd has galvanised the reorganisation of the RHB Banking Group under the universal-banking model, according to RAM Ratings.“This is likely to lead to the consolidation of RHB Investment Bank with its commercial-banking sister company, RHB Bank Bhd," it said in a statement yesterday. EPF holds 1.77 billion shares or 82.23% of RHB Capital.
The ratings agency said a universal-banking platform would provide RHB Investment Bank with the flexibility to structure and secure larger deals, as it would no longer be constrained by a modest capitalisation level and a small single-customer limit.
“However, the intense competition in the investment-banking arena and the strain on human talent within the industry will continue posing challenges to the bank," it said. More>>