Month: November 2014

Deutsche Bank Setting Up Innovation Labs With IBM, Microsoft

Deutsche Bank Setting Up Innovation Labs With IBM, Microsoft

Deutsche Bank AG is working on setting up joint innovation laboratories with technology firms IBM Corp., Microsoft Corp. and Indias HCL Technologies Ltd to improve its digital banking operations and fight-off new market entrants, people familiar with the matter said. Germanys largest lender and its partners plan to set up their labs in Berlin, London…

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China Central Bank Cut in Rates May Be Short on Impact

China Central Bank Cut in Rates May Be Short on Impact

By Lingling Wei BEIJING–Chinaapos;s move to slash lending rates to help slowing growth may lack punch, as Chinese banks likely will remain reluctant to lower loan rates for fears of hurting their profits. The Peopleapos;s Bank of China on Friday cut benchmark lending rates more than it cut deposit rates, while allowing banks more flexibility…

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California bankruptcy judge rules that state law does not protect pension fund …

California bankruptcy judge rules that state law does not protect pension fund …

On October 1, a bankruptcy judge ruled that the pension agreement between Stockton, California and Calpers, Californias massive state-run pension fund for public employees, is an executory contract that can be rejected in bankruptcy. Judge Christopher Klein of the Eastern District of California found that California laws designed to protect Calpers from municipal bankruptcies could…

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Wells Fargo and Discover Launch Private Student Loan Modifications

Wells Fargo and Discover Launch Private Student Loan Modifications

We’ve been hearing over the years that our students needed and wanted more options in those situations when they were having financial hardship, said Wells Fargo’s head of education financial services, John Rasmussen. Discover Financial Services also announced its own modification program that will launch in early 2014. Discover, which has $8.3 billion in private…

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The Do’s and Dont’s of Borrowing Money

The Do’s and Dont’s of Borrowing Money

column By Sanderson Abel Reckless borrowing can cause serious financial problems which can affect your future ability to get a job, buy a home, or obtain any new credit at a reasonable rate. There are two different types of loans generally offered to consumers: secured and unsecured. A secured loan is a loan which requires…

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Private sector banks in a sweet spot, stocks up 25% in six months

Private sector banks in a sweet spot, stocks up 25% in six months

With public sector banks in desperate need of fresh capital, private banks are swooping in to expand their footprint both in urban and rural India. Branch additions show a tilt towards semi-urban and rural areas, so far serviced by regional rural banks. Thanks to better reach, private lenders are expanding their market share in the…

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Plain Talk: Energy loan program a big success

Plain Talk: Energy loan program a big success

National Public Radios Morning Edition recently reported that the US Department of Energys loan program — the one that was vilified by congressional Republicans and the Koch brothers-financed Americans for Prosperity three years ago — is actually running in the black, making money for American taxpayers. The loan program was raked over the coals for…

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Glo guarantor loans launched for consumers with poor credit records

Glo guarantor loans launched for consumers with poor credit records

A loan for consumers with poor credit records who can find someone able to guarantee their borrowing has been launched by specialist lender Provident. Glo, short for guarantor loan option, is aimed at people locked out of mainstream borrowing who need cash to make a big purchase, like buying a car, or to consolidate other…

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Could A Bad Credit Score Make You Homeless?

Could A Bad Credit Score Make You Homeless?

Its common knowledge that poor credit makes it hard to apply for credit cards and get the best deals on loans, but did you know that having poor credit could make you homeless? Absurd as it sounds, the risk of becoming homeless due to poor credit is a very real threat. Credit History Is More…

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