All Entries Tagged With: "finance news"
American Companies Planning to Increase Workers Salary
Based on the information gathered by the recent research by Towers Watson shows that most companies within the nation are planning to issue a quite larger pay raises to their workers, as well as the end of the year may signal a return of yearly staff bonuses. Towers Watson Data Services conducted a comprehensive research [...]
Chase, Capital One, Discover, and Citigroup Boost Profit from Declining U.S Credit Card Delinquencies
Fitch Ratings reported last Thursday that five top banks, Citigroup, Bank of America, JPMorgan Chase, Capital One, and Discover, benefited lower credit card delinquency rates during the second quarter of the year. According to Fitch Ratings report, credit card payments which were 60 days or more late dropped in to 3.86% in the month of [...]
Citigroup to Invest $100 Million into NYC Affordable Housing Fund
Citigroup, Inc. is planning to invest $100 million fund in low and moderate income housing projects within the city of New York, the bank said Wednesday. The fund, which will be handled by L&M Development, is geared to provide support in preserving and rehabilitating affordable housing in New York City and the outer area by [...]
Capital One and Chase Offers Credit Card Rewards
The banks competition is getting more intense within the rewards and cash-back credit card business. Some banks and cards offers airline miles while others provide gas and groceries rebates. The Capital One® VentureSM Rewards Credit Card pays customers who owned and used their in buying merchandise or in other daily necessities. The credit card company [...]
City Tax Rolls Ensures Property Tax Revenue Reduction
Last Thursday the final property tax rolls were officially released. The Colony efficiently produced $2.1 billion in property taxes. Though there was new construction in town last year with a taxable value of approximately $53 million, existing values decreased by about $105 million, resulting in a net reduction of $51.9 million, Finance Director Rebecca Lai [...]
Bank of America Increases Loans to Support Small and Medium-Business and Boosts Job Creation in 2010
Bank of America announced that it loaned $45.4 billion in small and medium-sized business loans in the first half of 2010 to boost the job creation thus year. This amount represents an increase in lending of nearly $9 billion over the same period last year. “Small and medium-sized businesses are central to the nation’s economy [...]
Credit Cards Transfer Wealth from Poor to Rich Consumers
Credit card fees and rewards programs aggravate income inequality by acting as a transfer of money from poor and give it those who have the most, according to a Federal Reserve Bank of Boston study released Monday. The three researchers, Scott Schuh, Oz Shy, and Joana Stavins, argue that reducing card rewards and merchant fees [...]
General Motor Acquire AmeriCredit: Subprime or Bad Credit Loan will be a Problem for the GM?
Everyone within the entire subprime loan industry is fully aware about the plans of the General Motors in purchasing AmeriCredit. AmeriCredit is insurance company that was recognized for offering car and vehicle loans to those who have bad credit or subprime. This is the same GM that filed bankruptcy recently and spun off Ally Bank [...]
Obama’s Financial Reform Law Could Help American Insurers and Reinsurers
Based on the comprehensive analysis conducted by the Standard & Poor’s Corporation, a US-based financial services company that specialized in financial research and analysis on stocks and bonds, that the Dodd-Frank Wall Street Reform and Consumer Protection Act could provide a integral support to all American insurers and reinsurers to “maintain their competitive positions in [...]
FICO Report Indicates Americans’ Credit Scores Drops Below 600
The Fair Isaac Corporation or most known as FICO credit scores, which are sold directly to consumers using Equifax and Transunion, are dropping each and every month. The figures provided by FICO Inc. indicates that 25.5% of consumers, or nearly 43.4 million people, now have a credit score of 599 or below, marking them as [...]