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GE Capital Retail Finance Celebrates 80 Years of Consumer Financing31/7/2013

Market Chatter-Corporate finance press digest

FGI Finance is an industry leader, says Feldman, and I look forward to being a part of the team. Feldman brings more than a decade of experience in the commercial finance industry to his new position at FGI Finance, including extensive work as an advisor to middle market companies as well as a direct lender providing asset-based loans and factoring facilities. We are excited to have Steve join our team, states David DiPiero. He will be a great addition to our company. Prior to hisposition at FGI, Feldman was at Greystone Business Credit providing asset-based loans and factoring facilities. Previous to that, he was a member of Capital Solutions Group, LLC, a debt advisory firm assisting companies with their financing needs. FGI Finance ( www.fgifinance.com ), a division of FGI, is a global commercial finance firm with clients in over 60 countries around the world.

Expertise and comprehensive account support is provided in the areas of customer service, collections, payment processing, sales and client development, information technology, risk, marketing, finance and quality. Deliver digital capabilities that enhance and ease the user experience, including online account management and bill pay, financing information on client websites and social channels, and mobile applications and servicing. Dedicate thousands of volunteer hours annually and more than a million dollars in charitable giving to support financial education and counseling for individuals and small businesses, as well as champion services that lead to self-sufficiency in low-to-moderate income households. About GE Capital's Retail Finance business GE Capitals Retail Finance business is among the countrys most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales.

* Private equity firm American Securities LLC is exploring a possible sale of specialty chemicals manufacturer General Chemical Corp that could fetch more than $1 billion, three people familiar with the matter said this week. * Credit Suisse Group AG is in advanced talks to sell a private equity business to Grosvenor Capital Management LP as the bank adapts to stricter rules for managing capital and risk, a person familiar with the matter said on Wednesday. * Royal Dutch Shell will sell at least four more oil blocks in Nigeria in its latest divestment from Africa's top oil exporter, three oil industry sources familiar with the deals said on Wednesday.

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Serbia avoids early election with deal to oust finance minister31/7/2013

Growth will be better than last year?s 5%: Finance Minister P Chidambaram

Without the 16 seats of Dinkic's URS, the coalition retains a slim majority in parliament and the Balkan country avoids the prospect of a snap election, which would almost certainly have delayed its talks on joining the European Union. But his departure is a concern for investors worried about Serbia's growing budget gap and public debt, which have all but buried hopes of a new precautionary loan deal with the International Monetary Fund. "The exit of the URS moves the coalition's axis to the left, and reduces the chances of much needed reform," Timothy Ash, Standard Bank analyst, wrote in a note on Wednesday. In early afternoon, the dinar currency traded at 113.95 to the euro, having earlier slipped to 114.28, prompting central bank intervention, traders said. A central bank spokeswoman confirmed the intervention, and said the amount of euros sold would be announced later in the day.

Ireland Plans Ship Finance Center in Dublin?s Docklands

Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein.

Are you in favour of that recommendation? I am. But one has to hold wider consultations. Is there a decision taken on who the next RBI governor would be? No.

WhiteHorse Finance, Inc. to Report Second Quarter 2013 Financial Results

Ireland could capture 5 percent of the global shipping market, ISSC said, without giving further details. Buy Land ISSC may buy land in the Irish capitals north docklands and then develop the project in stages, starting with a 27,500 square-meter (296,000 square-foot) eight-story office building, the company said. A further 47,000 square meters of business space could later be developed on an adjoining site, ISSC said. ISSC director Cormac Megannety declined to comment on the proposals.

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Personal finance lessons from the Detroit bankruptcy31/7/2013

I never reached a point where I had to file bankruptcy, but I did reach a point where I had bills on the table and not enough money to pay them. It was frightening. I had people relying on me not just myself, but my wife and my infant son. I needed to make sure that certain things were provided for them a roof over their head and food in their bellies, for starters.

Finance moots 49% multi-brand retail FDI by automatic route

Last September, the government permitted foreign supermarkets in India by allowing up to 51 per cent FDI, subject to government approval. The cabinet is set to review FDI norms in multi-brand retail on Thursday. On July 24, commenting on the cabinet note moved by the Department of Industrial Policy & Promotion (DIPP), the finance ministry proposed that FDI up to 49 per cent is allowed on automatic route. The DIPP has declined to tweak the cabinet proposal saying this was not on the agenda of the July 16 meeting chaired by the Prime Minister, at which fresh FDI limits were decided.

Wielding Finance, Innovation And Policy To Make An Impact In Climate Change

Second, governments need to focus public finances in such a way as to maximize private investment in the projects that are developed. Public finance must unlock and leverage significant amounts of private capital; this can be done through funds that aggregate smaller investments in energy access, agriculture and energy efficiency; through insurance products that reduce policy and technology risk; and through structured funds that combine public and private investment in such a way as to attract large institutional investors. What factors will create the confidence necessary for developed countries to adequately fund new innovative institutions in this space, such as the Green Climate Fund? Developed countries and policy tools like the Green Climate Fund will play a critical catalytic role in financing green, climate friendly growth. Public financing need to be designed with private finance mobilization in mind blending small amounts of public funds with the flexibility and accountability that will create investor confidence, make for attractive investments, and ensure maximum impact for the public finance that is allocated.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Serve business owners across nearly 20 industries, including apparel, appliances and consumer electronics, art, automotive aftermarket, home furnishings, elective healthcare, floor covering, home improvement, jewelry, music, online retailers, outdoor power equipment, powersports, sporting goods, and many others. Support clients with proprietary online technology such as BusinessCenter, which includes service, marketing and sales tools, as well as Learning Center, providing businesses with access to comprehensive training for their teams on consumer financing. Expertise and comprehensive account support is provided in the areas of customer service, collections, payment processing, sales and client development, information technology, risk, marketing, finance and quality. Deliver digital capabilities that enhance and ease the user experience, including online account management and bill pay, financing information on client websites and social channels, and mobile applications and servicing. Dedicate thousands of volunteer hours annually and more than a million dollars in charitable giving to support financial education and counseling for individuals and small businesses, as well as champion services that lead to self-sufficiency in low-to-moderate income households.

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Wielding finance, innovation and policy to make impact in climate change31/7/2013

Serbian PM moves to oust finance minister, risking election

First, developing and emerging economies need to develop investment-grade policy frameworks that generate a strong pipeline of bankable green growth projects. This can be done through enacting national targets supported by regulatory frameworks and predictable incentives. Second, governments need to focus public finances in such a way as to maximize private investment in the projects that are developed. Public finance must unlock and leverage significant amounts of private capital; this can be done through funds that aggregate smaller investments in energy access, agriculture and energy efficiency; through insurance products that reduce policy and technology risk; and through structured funds that combine public and private investment in such a way as to attract large institutional investors. What factors will create the confidence necessary for developed countries to adequately fund new innovative institutions in this space, such as the Green Climate Fund?

Serb Leaders to Discuss If Finance Chief Stays in Cabinet

"Economy and finance are the most important issues for the future of Serbia and we need an additional impetus here," he said. "We have no time for mistakes." In response, Dinkic accused Dacic of "pure politicking" to cement his own position as premier. The nationalist SNS is riding high in opinion polls and stands to gain the most from a new election, which would likely cement its dominance of the Serbian political scene. But elections, and the weeks or months it would take to form a government, will cost valuable time in shoring up national finances and implementing a landmark accord between Serbia and its former Kosovo province, brokered in April by the EU.

Insights on Climate Finance and Future Talks are over for the day, Milivoje Mihajlovic, a spokesman for the government, said by phone from Belgrade late yesterday, adding that talks would resume at noon today. Mihajlovic spoke after a meeting of Dacic, his deputy Aleksandar Vucic, and Finance and Economy Minister Mladjan Dinkic . Before the meeting started, Dacic said theyd discuss personnel changes and a change in the approach to finance and economic policy making, according to Tanjug newswire. Dacics Socialist party agreed July 26 to make changes.

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Personal finance lessons from the Detroit bankruptcy30/7/2013

Recent posts The Christian Science Monitor Weekly Digital Edition For those of us who have reached a financial low point in our lives, this sounds pretty familiar. I never reached a point where I had to file bankruptcy, but I did reach a point where I had bills on the table and not enough money to pay them. It was frightening. I had people relying on me not just myself, but my wife and my infant son.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

GE (NYSE: GE ) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world.

Finance moots 49% multi-brand retail FDI by automatic route

The cabinet is set to review FDI norms in multi-brand retail on Thursday. On July 24, commenting on the cabinet note moved by the Department of Industrial Policy & Promotion (DIPP), the finance ministry proposed that "FDI up to 49 per cent is allowed on automatic route". The DIPP has declined to tweak the cabinet proposal saying this was not on the agenda of the July 16 meeting chaired by the Prime Minister, at which fresh FDI limits were decided. It was also not part of the suggestions put forward by the Arvind Mayaram committee.

WhiteHorse Finance, Inc. to Report Second Quarter 2013 Financial Results

About WhiteHorse Finance, Inc. WhiteHorse Finance, Inc. is a business development company that originates and invests in loans to privately held small-cap companies across a broad range of industries. The Companys investment activities are managed by its investment adviser, H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G.

The framers on campaign finance law ? via Tumblr

Federal Election Commission , a case that challenges the overall limit $123,000 that one person can give over a two-year election cycle. The challengers argument is that, as long as the $2,600 cap on donations to a single candidates campaign is in place, there is no constitutional rationale for limiting the total amount: each candidate will still receive only $2,600, so there is no greater risk of corruption simply because one donor can now contribute to many more candidates. Removing the aggregate donations ceiling would allow a single donor to give the maximum amount to more candidates as well as to political parties. The Republican National Committee, along with Shaun McCutcheon, an Alabama businessman and conservative activist, brought the lawsuit. The problem is that the lawsuits underlying premise argues that the only permissible target of federal campaign laws is individual corruption the sort of quid pro quo campaign activities that barrel across the line separating political donations from bribery.

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D.C.?s campaign finance laws need reforming30/7/2013

LDC Finance unsecured debenture holders lose out

Gray (D) last year. Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale. Among the findings was the expenditure of more than $215,000 on consulting services to two companies; the committee didnt produce contracts or invoices detailing what services were provided. Also cited was the issuance of 28 checks, including seven made out to cash, totaling $92,260 by Che Brown, Mr.

Borst will retire as Toyota finance chief

Instead, the entire settlement proceeds have gone to the secured debenture holders who have now been repaid all of the $12.3 million they were owed, plus a small amount of interest. When LDC called in the receivers nearly six years ago, the unsecured debenture holders and call account holders were owed just over $9m. LDC was the substantial loser in the settlement with the trustees for F&I Finance, another Nelson- based financier funded by mum and dad investors, securing $5.8m. In a written statement, Grant Thornton, the new receiver of LDC Finance said: "The 468 secured investors of LDC Finance are to receive repayment in full of their capital investment plus a partial interest distribution, in total $4.9m." The settlement came after a court fight between PWC, the former receivers of LDC, and F&I's trustees.

GE Capital Retail Finance Celebrates 80 Years of Consumer Financing

Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

And the unit's in-house treasury department has won all four of the financial services industry's coveted awards for performance, stability, speed-to-market and risk management. No company, automotive or otherwise, has ever done that, Toyota said. Those were key reasons why Borst was named an Automotive News All-Star in 2012. Borst said he was proud that Toyota's finance arm ranked atop seven categories in the recent National Automobile Dealers Association survey. "Toyota dealers can only get their cars from Toyota," he said.

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Big finance is strangling innovation29/7/2013

Your plan might involve cutting back on spending or selling some of the items in your closet. This touches on another aspect of Detroits bankruptcy that people everywhere should be thinking about:your pensions are not golden, even if youre employed by a government or other public-sector employer.You should not be planning your retirement based on your pension being available for 40 years. Its just not a good plan. If you are in that situation, I highly recommend taking some of your income and banking it for future years.

Serb Leaders to Discuss If Finance Chief Stays in Cabinet

The financialization monster Think about it: what GE product did you recently purchase that enhanced your life? In the era of financialization,big companies like GE have turned their attention to making quick Wall Street profits instead of fabulous products. In the 1980s, for example, GEs Jack Welch rapidly expanded the companys business into issuing credit cards, mortgage lending and other financial activities. It wouldnt be long before financial operations accounted for almost half of the companys profit.

Weak Earnings Growth Outside Finance

Markets open in 3 hrs 14 mins Weak Earnings Growth Outside Finance By Sheraz Mian | Zacks Thu, Jul 25, 2013 6:10 PM EDT The following is an excerpt from this week's Earnings Trends. Click here to access the PD F . The Finance sector gave the 2013 Q2 earnings season a flying start, but the sectors momentum came as no surprise -- estimate revisions activity in the run-up to the reporting season indicated a strong showing from the sector. The sectors actual performance has turned out to be even better relative to pre-season expectations.

Dacics Socialist party agreed July 26 to make changes. Dinkic yesterday said he would be willing to split his cabinet portfolio and remain finance minister while creating a separate Economy Ministry controlled by Vucics Serbian Progressive Party. The shuffle, including the ministry division, was triggered by Vucics former nationalists, who threatened early elections if their demands were not met. The threat of being kicked out from big brothers house could be stabilizing for the government, said Marko Blagojevic, the program director at the Belgrade-based Centre for Free Elections and Democracy in a phone interview.

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Serbian finance minister cedes economy brief, averts risk of snap poll29/7/2013

Futuris? new finance boss looks forward to sale

Dinkic had previously resisted splitting up his ministry, but Prime Minister Ivica Dacic warned on Saturday that the coalition would go on without him if he did not. Financial markets seem likely to welcome Dinkic's continued presence in government. He has slowed the rate of increase of Serbia's budget deficit and public debt, which had ballooned to all but scuppered hopes of a new precautionary loan from the International Monetary Fund. Dacic's Socialists and the nationalist Progressive Party (SNS), the two biggest parties in the alliance, had already agreed to reshuffle their ministers.

It is now also moving to supply car manufacturers in India through a joint venture there. As well as globalising the business in automotive, the company has been diversifying into making interiors for trains, alternative energy manufacturing and selling its supply chain expertise. In deliberate moves to broaden his experience outside finance, Clarke has also headed business development, was general manager of CleanTech and most recently head of corporate relations. For his finance team, the due diligence over the sale has included questions over the companys tax, legal and accounting position, as well as examination of forecasts. While it and the business has become used to rapid change, he says it should never be underestimated how important it is to make sure the team are settled after a lot of change, but also that they are using it as an opportunity to motivate people and hopefully take them to the next step of delivering to our [internal] customers.

German Finance Minister rejects second writedown of Greek debt

Wolfgang Schaeuble told weekly Bild am Sonntag in an interview that Greece would continue to receive support beyond 2014 if needed and provided the country meets the demands of international creditors. Schaeuble was quoted as saying "it's certain, however, that there will be no second debt writedown for Athens." Extracts of the interview, to be published Sunday, July 28, were released by the paper Saturday and confirmed by the Finance Ministry. With Germany's general election two months away, Chancellor Angela Merkel's conservative government has been at pains to appear firm on Greece's international bailout, which is unpopular with many Germans. Last year Greece's debt was restructured with private-sector bondholders.

Yarmouth finance department could see reorganization

Heir apparent to the finance director position is Yarmouths current financial analyst Edward Senteio, whose background in software development, Hinchey said, suits him to the more technical side of town finances. After reviewing a number of candidates for the position of finance director, and interviewing three finalists at its previous meting, the Yarmouth Board of Selectmen voted this week to hire none of them, and to begin the process of reorganizing the towns finance department instead. In presenting the new plan, Town Administrator William Hinchey told the board that the search for a new finance director had failed to reveal a candidate with all the skills and qualities necessary for the position. That failure, he said, was due more to the evolving nature of the position than to any shortcomings of the candidates. They would provide certain strengths, Hinchey said, but not the strengths wed like. Hinchey explained that the job of overseeing the various complex facets of a municipalitys finances has become increasingly technological, with expertise with complicated computer software a growing requirement of the position.

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Big finance is strangling innovation28/7/2013

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

From 2004-2008, for example, when other advanced economies were pouring money into clean technology, the U.S. financial markets were rapidly innovating new financial products that served to extract yet more wealth from the productive parts of our economy. The wrong kind of innovation Paul Volcker once famously quipped that the ATM is the only useful financial innovation hes seen in the last 20 years. It seems that while we havent gotten around to things like clean technology, weve created lots of innovative ways for ordinary people to lose moneythings like lines of credits on homes that tend to thrust people into debt more quickly and force them to bear the burden of Wall Streets obsession with making bigger returns at any cost.

D.C.?s campaign finance laws need reforming

The D.C. Council has unfortunately failed to act on the proposal, which was submitted by Mayor Vincent C. Gray (D) last year. Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale.

Take every opportunity to grow, especially in regard to developing both technical and soft skills. This means regularly attending finance seminars and conferences, participating in professional development in the workplace, and asking for regular feedback. According to Ian K. Snow, CEO and Partner of Snow Phipps, they're looking for junior employees with strong analytical, finance, accounting, and modeling skills. A sense of initiative, ability to work with others, and integrity are also highly coveted qualities at Snow Phipps.

Baucus Says Finance Panel to Consider Tax Code This Year

We have to reform the code, he told reporters today in Washington . Weve got to do our work. Baucuss plan for committee action this year matches efforts in the House of Representatives by Ways and Means Committee Chairman Dave Camp, a Michigan Republican. Baucus and Camp have started a national tour together in support of a tax rewrite. The effort faces a series of obstacles, including entrenched interests defending their tax breaks and a partisan divide over how much revenue should be raised from federal taxes.

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Personal finance lessons from the Detroit bankruptcy28/7/2013

German Finance Minister rejects second writedown of Greek debt

Many people in financial peril are facing interest payments on student loans, mortgages, car loans, credit card debt, and so on. Much like Detroit,the solution is to carefully evaluate how your money is being spent and come up with a plan for fixing things.Detroits plan might involve cutting pensions or selling some city assets. Your plan might involve cutting back on spending or selling some of the items in your closet. This touches on another aspect of Detroits bankruptcy that people everywhere should be thinking about:your pensions are not golden, even if youre employed by a government or other public-sector employer.You should not be planning your retirement based on your pension being available for 40 years. Its just not a good plan.

D.C.?s campaign finance laws need reforming

On Friday, Fitch ratings kept Serbia's BB- rating with a negative outlook, citing uncertainty over public finances and public debt, which is projected to reach 65 percent of output by 2014. "The country is running out of time," said Miladin Kovacevic, deputy head of the Serbian statistics agency. "It needs thorough reforms but they will require a fully functional government as soon as possible," he told Reuters. URS is due to hold a leadership meeting on Sunday. Dinkic has indicated he wants the government downsized to 15 ministries from the current 19 rather than expanding it as his coalition partners insist.

Gray (D) last year. Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale. Among the findings was the expenditure of more than $215,000 on consulting services to two companies; the committee didnt produce contracts or invoices detailing what services were provided. Also cited was the issuance of 28 checks, including seven made out to cash, totaling $92,260 by Che Brown, Mr.

Serbian PM threatens to oust finance minister

Wolfgang Schaeuble told weekly Bild am Sonntag in an interview that Greece would continue to receive support beyond 2014 if needed and provided the country meets the demands of international creditors. Schaeuble was quoted as saying "it's certain, however, that there will be no second debt writedown for Athens." Extracts of the interview, to be published Sunday, July 28, were released by the paper Saturday and confirmed by the Finance Ministry. With Germany's general election two months away, Chancellor Angela Merkel's conservative government has been at pains to appear firm on Greece's international bailout, which is unpopular with many Germans. Last year Greece's debt was restructured with private-sector bondholders.

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Why Every Finance Professional Needs a Degree in Big Data28/7/2013

Big finance is strangling innovation

estimates that by 2018 there will be up to 190,000 unfilled data-scientist jobs in theU.S. and an unfilled need for 1.5 million managers with analytical skills they can apply to their line jobs. That skills shortage emerges in many pockets of business. A recent survey by Booz Allen Hamilton found only 18% of managers of federal departments believe their agencies have the capability to analyze Big Data.

Serbian PM threatens to oust finance minister

I had people relying on me not just myself, but my wife and my infant son. I needed to make sure that certain things were provided for them a roof over their head and food in their bellies, for starters. RECOMMENDED: Can you manage your money? A personal finance quiz. That experience, in many ways, parallels whats happening in Detroit. Much like Detroit,we all have basic maintenace were responsible for.Detroit has facility maintenance, while we have rent and insurance and so on.

Personal finance lessons from the Detroit bankruptcy

So why arent we getting the job done? Clearly, were in desperate need of clean technology that wont poison us. Our information and communications systems are not up to snuff. Our infrastructure is outdated and crumbling before our eyes. Were not investing enough in these areas, and it shows.

Credit: Reuters/Francois Lenoir By Maja Zuvela BELGRADE | Sat Jul 27, 2013 1:25pm EDT BELGRADE (Reuters) - Serbia's prime minister piled pressure on Finance and Economy Minister Mladjan Dinkic on Saturday to cede one of his portfolios or face being ousted from the Balkan country's coalition government. "It's crucial to have a division of responsibilities by splitting the ministry of finance and economy if we are serious about pursuing our goal of economic and fiscal consolidation," Prime Minister Ivica Dacic told a news conference. The ultimatum comes as the coalition tries to agree a cabinet reshuffle and avert a snap election that would likely delay the start of European Union membership talks from January next year. The two biggest parties, Dacic's Socialists and the national Progressive Party, signaled on Friday that they had agreed how to reshuffle their own ministers, but there was no word from the junior partner, Dinkic's United Regions of Serbia (URS). Without URS's 16 seats, the remaining coalition parties would still hold a slim majority in parliament.

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Report: German finance minister insists there will be no 2nd debt writedown for Greece27/7/2013

Steven Mufson Agency agreed to not pursue charges beyond a misdemeanor in return for cooperation. But investors on Friday shrugged off the settlement. Danielle Douglas and Steven Mufson JPMorgan Chase is looking into shedding its businesses in oil, coal, other products. More business news Schaeuble was quoted as saying its certain, however, that there will be no second debt writedown for Athens. Extracts of the interview, to be published Sunday, were released by the paper Saturday and confirmed by the Finance Ministry.

Serbian PM threatens to oust finance minister

Bubbles followed by catastrophic crashes become inevitable: eventually, the weight of financial speculation becomes so great that it overwhelms the system, as we saw in the late 1920s, and in the 2007-08 financial crisis. When these crises occur, speculation decreases for a time, but as we can see now, the financial sector is hell-bent on restoring profits not for the sake of the economy and jobs, but for the sake of their incomes. Damon Silvers has also pointed out that the costs of financial bubbles include the effects of the failure to productively invest capital, including the decline of government investment in research and development. Income inequality keeps growing, and Wall Street types push the false idea that any money they make is made fairly and that the government should never intervene.

Big finance is strangling innovation

The two biggest parties, Dacic's Socialists and the national Progressive Party, signaled on Friday that they had agreed how to reshuffle their own ministers, but there was no word from the junior partner, Dinkic's United Regions of Serbia (URS). Without URS's 16 seats, the remaining coalition parties would still hold a slim majority in parliament. "If our political views match, we will continue to work within the same configuration, and in case they don't, we will work with or without URS, since we have a majority in the parliament," Dacic told reporters. He said he planned to present a new line-up for parliamentary approval on August 20. Dinkic's ouster would likely unnerve investors worried about Serbia's rising budget deficit and public debt, which have all but scuppered hopes of a new precautionary loan deal with the International Monetary Fund.

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Muthoot Finance profit drops 21% on loan growth stagnation27/7/2013

UPDATE 1-Moody's public finance downgrades outpace upgrades

Total income declined to Rs 1,285.79 crore during the quarter from Rs 1,293.78 crore a year ago. The year-on-year decline in profits during the quarter was on account of stagnation in loan growth and lower yield on liquidated loan accounts, Managing Director George Alexander Muthoot said in a statement. Reuters Expenses were high on account of lenders continuing higher level of interest and administrative expenses going up with the addition of branches in the past one year, he said. The companys retail loan assets under management stood at Rs 25,848 crore as of June 30.

Yarmouth finance department could see reorganization

They would provide certain strengths, Hinchey said, but not the strengths wed like. Hinchey explained that the job of overseeing the various complex facets of a municipalitys finances has become increasingly technological, with expertise with complicated computer software a growing requirement of the position. Town bylaws currently stipulate that the finance director is also Yarmouths head accountant, leading to a growing confusion of duties, with a single individual being required to have great technical expertise in the minutiae of both software and numbers-crunching. Hincheys proposed fix is to separate the positions of finance director and town accountant, which would allow the town to select from two distinct pools of specialists, rather than trying to find a single person who could handle both. It would also mean a change in the bylaw, which would in turn require a vote at the next town meeting.

Reuters The state's ongoing pension funding battles have raised concerns about its credit quality in the municipal bond market. The agency said that debt issued by Detroit and the city's water and sewer agency accounted for nearly half of the $19.9 billion par amount of local government downgrades. "We expect the high pace of downgrades to continue in 2013 for most sectors," said Moody's Assistant Vice President Eileen Hawes in a statement. "Although the U.S.

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Muthoot Finance profit drops 21% on loan growth stagnation27/7/2013

Reuters The year-on-year decline in profits during the quarter was on account of stagnation in loan growth and lower yield on liquidated loan accounts, Managing Director George Alexander Muthoot said in a statement. Reuters Expenses were high on account of lenders continuing higher level of interest and administrative expenses going up with the addition of branches in the past one year, he said. The companys retail loan assets under management stood at Rs 25,848 crore as of June 30. Muthoot Finance, the Kochi-based gold financing and non-deposit taking NBFC (Non-Banking Finance Company), said it has applied to the Reserve Bank for a banking licence.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

Companies thrive on employees who routinely solve problems with little to no guidance. "You want the institution you work for to look good -- you want them to be successful while you're being personally successful -- so you've got to be all in to get that result," said Deborah C. Wright, President and CEO of Carver Bancorp . Use Your Passion To Rise While you're only at the start of your career, it's always important to keep your future in mind.

UPDATE 1-Moody's public finance downgrades outpace upgrades

In the second quarter, the par amount of the debt downgraded more than tripled to $92 billion from $27 billion in the first quarter, largely due to the ratings cut on $32 billion of Illinois general obligation and sales tax bonds. The state's ongoing pension funding battles have raised concerns about its credit quality in the municipal bond market. The agency said that debt issued by Detroit and the city's water and sewer agency accounted for nearly half of the $19.9 billion par amount of local government downgrades. "We expect the high pace of downgrades to continue in 2013 for most sectors," said Moody's Assistant Vice President Eileen Hawes in a statement. "Although the U.S.

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Recent Grads: Passion Is the Secret Ingredient to Success in Finance26/7/2013

EU finance arm curbs loans to coal-fired power plants

"They're demanding roles...So it better be something you like, because if you like it, you have a chance at being good at it." Being in a position you love allows you to provide an engaged and refreshing perspective in the workplace. Others will notice your passion and feel more energized and motivated, while your managers will be more likely to help you rise through the ranks. Combine Your Skills With Your Passion Let your passion play into your skillsets. Those who are truly invested in their work are good at it and always looking to improve.

Yarmouth finance department could see reorganization

The EIB decision follows moves by other multilateral financial institutions such as the Washington-headquartered World Bank to fund coal-fired power stations only in "rare circumstances". Since the start of 2007, the EIB has loaned around 11 billion euros ($14.5 billion) to fossil fuel-fired plants, most of it to gas rather than coal, out of its total lending for power of 83 billion euros. "The vote to introduce an emissions performance standard represents a step-change in the EU's fight against climate change and puts the bankers ahead of politicians in terms of tangible action," said Ingrid Holmes, of environmental think tank E3G in a statement. She added: "With several directors pushing for 450 gCO2/kWh at the meeting, I'd expect to see it tightened further over the next 12 months as the politics of the EU's broader approach to 2030 (carbon emissions) targets is settled." An emissions cap of 450 g/KWh would mean that older, inefficient gas plants would also be ineligible for funding. The cap would have to be 150 g/KWh to force all gas plants to deploy largely unproven carbon capture and storage technology.

D.C.?s campaign finance laws need reforming

Hincheys proposed fix is to separate the positions of finance director and town accountant, which would allow the town to select from two distinct pools of specialists, rather than trying to find a single person who could handle both. It would also mean a change in the bylaw, which would in turn require a vote at the next town meeting. Selectwoman Tracy Post apologized to the candidates who appeared before the board at its last meeting, but agreed that Hincheys plan was the best course. I think this does set us onto a better position for the future, she said. The board voted unanimously to adopt Hincheys proposal.

Among the findings was the expenditure of more than $215,000 on consulting services to two companies; the committee didnt produce contracts or invoices detailing what services were provided. Also cited was the issuance of 28 checks, including seven made out to cash, totaling $92,260 by Che Brown, Mr. Browns brother, who was not authorized to write checks from the campaign fund. Che Brown also pleaded guilty to bank fraud not related to the campaign. The campaign finance offices general counsel will decide whether to recommend board action.

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D.C.?s campaign finance laws need reforming25/7/2013

Muthoot Finance Apr-June net profit drops 21% to Rs 194 crore

attorneys office. That investigation resulted in Mr. Browns resignation as council chairman after he pleaded guilty to a misdemeanor charge of violating a city campaign statute and to felony bank fraud unrelated to the campaign. In closing the case in December, U.S.

Judge rules against punitive damages in Fair Finance lawsuit

Sell-side analysts said they were advising clients to be cautious on private sector banks that rely heavily on market funding, after the central bank unveiled a second set of measures on Tuesday to drain cash from Indian money markets and defuse speculation against the rupee. The rupee hit its highest in a week, rallying further from record lows as it secured a respite, thanks to the Reserve Bank of India's efforts to push up rates. Analysts said the banks were vulnerable as the bulk of their lending activities are financed by wholesale deposits, from companies or other banks prone to move their money quickly. That contrasts with peers such as HDFC Bank (HDBK.NS) and state-owned banks with a massive nationwide presence that lets them access more stable deposits from retail investors. Bulk or wholesale deposits make up just 22 percent of HDFC Bank's total deposits.

Triton Aviation Finance Launches Consent Solicitation

Total income declined to Rs 1,285.79 crore during the quarter from Rs 1,293.78 crore a year ago. "The year-on-year decline in profits during the quarter was on account of stagnation in loan growth and lower yield on liquidated loan accounts," Managing Director George Alexander Muthoot said in a statement. Expenses were high on account of lenders continuing higher level of interest and administrative expenses going up with the addition of branches in the past one year, he said. The company's retail loan assets under management stood at Rs 25,848 crore as of June 30.

Banks, finance firms hit by RBI's rupee defence

Bashs lawsuit against Fortress is still moving toward a trial date. Bash is an attorney in the Cleveland offices of law firm Baker Hostetler. One of Bashs associates in a hearing Tuesday morning in U.S. Bankruptcy Court in downtown Akron said the trustee and Fortress are discussing entering into mediation. Any settlement that could come out of mediation would still need court approval.

As of 5:00 p.m., New York City time, on July 24, 2013, the outstanding principal balance of the Notes was $344,040,122. No fees will be paid by TAF to the holders of any of the Notes in connection with the Consent Solicitation. The record date for the Consent Solicitation is 5:00 p.m., New York City time, on July 24, 2013. The overall purpose of the Proposed Amendments, as described more fully in the Consent Solicitation Statement, is to (i) provide TAF with the flexibility to enter into leases with lessees and generally manage the portfolio in a manner that better reflects the current market and other conditions affecting the current portfolio, (ii) facilitate the on-going leasing and sale of TAFs aircraft portfolio in order to maximize the value of the remaining assets of TAF, taking into account rapidly changing market conditions and the age of TAFs aircraft, (iii) reduce the minimum level of hull, repossession (political risk) and airline liability insurance to levels that better reflect current market conditions and the state of the aircraft portfolio, (iv) eliminate the time delay and costs associated with obtaining rating agency confirmation or the approval of the rating agencies and providing notice to the rating agencies prior to taking certain actions by TAF as currently required under the Indenture and (v) otherwise amend the Indenture to effectuate the foregoing. In addition, the Proposed Amendments would establish a process for the gradual repayment to the Class A liquidity provider of funds held in a cash collateral account as a result of a downgrade of such provider (which funds were originally drawn from such Class A liquidity provider) and for the orderly funding of a smaller replacement cash collateral account for Class A interest and expenses.

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Finance and Grants Director25/7/2013

G20 finance ministers aim for more growth

This may include developing business cases where donor waiver/derogation requests need to be more thoroughly articulated or negotiated with donors. * Ensure that all new staff receive an orientation to SCI award management processes, systems, tools, and donor compliance requirements that are relevant to the role. * Work with internal and external auditors as necessary. Partnerships * Work with relevant program staff to ensure all implementing partners undergo legal vetting and a capacity assessment prior to commencing work with Save the Children, are engaged with appropriate agreements and effective monitoring systems are in place so that partner delivery meets donor expectations and requirements.

The AfDB led the efforts to develop the adaptation approach while contributing to the mitigation approach as well. Through the process, each MDB committed to report annually on its previous years climate finance commitments and to continue to refine the Joint MDB tracking approaches through implementation. To support this, the AfDB is leading additional technical work to refine these approaches and has commissioned an independent technical analysis to review both the adaptation and mitigation approaches as well as their application to the AfDB 2012 portfolio. In parallel, there are ongoing efforts with the Organisation for Economic Co-operation and Development (OECD) to assess how the Rio Markers can be adjusted and improved upon based on the joint MDB approaches and an ongoing discussion with other bilateral agencies to facilitate their use of the joint approaches with a view to being part of the Joint MDB Climate Finance Annual Reports.

AfDB enhances operational capacity to track climate finance in development projects

Saturday, July 20, 2013 | Posted: 11:55 a.m. Saturday, July 20, 2013 G20 finance ministers aim for more growth Related View Larger Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko) View Larger From left, Mexico's Central Bank Governor Agustin Carstens, Managing Director of the International Monetary Fund Christine Lagarde, and Special Envoy for the President of the World Bank Mahmoud Mohieldin pose for a group photo after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013.

Is That Finance Internship Worth It?

Joel Gross says despite the financial struggle at the time, he would never take back his Merrill Lynch internship experience. The reason he can comfortably repay his loans now is because his company has a strong financial foundation thanks to the skills he gained during his internship. Gross is the CEO and founder of Coalition Technologies , a web-design and search-engine optimization firm based in Los Angeles and Seattle. "I think anyone interested in pursuing a career in business should consider a financial internship," he says. It will give them the basic skills they need without having to get a separate degree or pursue further education in that field.

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Finance, health ministers to implement 2008 law requiring handicap access to health facilities23/7/2013

Butler Snow Law Firm Announces Expansion Into Denver Market, Strengthens New Markets & Public Finance Expertise

The law passed in 2008 included specific guidelines to implement accessibility. Orli Boni, the chief occupational therapist of the Health Ministry, told The Jerusalem Post that even before the law was passed, health facilities were encouraged to start making changes in health fund clinics, hospitals and other facilities so the disabled could receive the health services. The lag time in implementation came because each guideline is debated in the Knesset by committees. Institutions opposed to the guidelines cite the high cost of retrofitting buildings or construction of new ones.

Hodson received his Juris Doctorate from Washburn University, and completed his bachelors degree at University of Kansas. He is a member of the Kansas Bar Association, Colorado Bar Association and the U.S. Tax Court. Hered concentrates on federal tax issues, new markets tax credits and complex financing and transactions.

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G20 finance ministers aim for more growth23/7/2013

Hensarling Housing Finance Plan: A Welcome Step Toward Solving the Fannie and Freddie Mess

The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger Deputy Prime Minister of Japan, Minister of Finance, Taro Aso, right, and Haruhiko Kuroda, Governor of the Bank of Japan speak as they attend a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. The finance chiefs of the world's leading economies hope to force multinational companies to pay more taxes by closing loopholes that have allowed them to stash profits overseas. (AP Photo/Alexander Zemlianichenko) View Larger Russian Finance Minister Anton Siluanov speaks on a phone as he attends a group photo ceremony after a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013.

The NMMU would then facilitate the origination, servicing, pooling, and securitizing of mortgages and serve as a public securitization outlet to match mortgage loan originators to investors in residential mortgage-backed securities. The new entity would not receive any federal government guarantees and would be barred from issuing securities. Participation in the NMMU would be voluntary. Covered Bond Financing Structure.

Chinese economy set to turn around, no hard landing: finance minister

Search for share prices Copyright/IP Policy Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity.

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Legislative leaders set votes on transportation finance measure for Wednesday22/7/2013

The Legislature last week rejected Patrickas suggested changes to the bill. Patrick had proposed to further increase the gas tax in 2017 if certain Massachusetts Turnpike tolls expire as scheduled, saying the state needed a replacement source of revenue if the tolls are removed. Murray and DeLeo, standing shoulder to shoulder, defended the transportation finance legislation today. aWe feel that we gave the governor a good bill, that itas going to take care of transportation needs and problems far into the future,a Murray said. aWe have provided a good piece of legislation providing proper financing for transportation for many years to come,a DeLeo added.

Is there morality in personal finance?

Just because its a practical, sound financial decision for your budget doesnt mean its a good decision overall. There are ethical questions to consider, which makes it seem like there is indeed morality in personal finance. Money-related issues go beyond a cost-benefit analysis. We have to ask ourselves, is this hurting anyone? Does it hurt the system when you choose not to pay off your credit cards or take on a loan you cant afford?

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