Personal debt consolidation

Moody's raises the Japan debt rating on fiscal policy - Hürriyet

AFP

Moody's raises the Japan debt rating on fiscal policy Hürriyet, Turkey - 21 hours ago The increase on long-term, local-currency debt from A1 "was prompted by expectations of continued fiscal restraint and consolidation, coupled with an ... Moody's upgrades Japan's debt rating AFP Japan Debt Rating Raised By Moody's on Fiscal Policy (Update2) Bloomberg Japan's government debt upgraded to 'Aa3' from 'A1' - Moody's Forbes Middle East North Africa Financial Network - Wall Street Journal all 22 news articles

Business Highlights

The Oracle of Omaha is betting that the country's candy jar is recession-proof.

With financing from Warren Buffett, candy maker Mars Inc. on Monday said it is buying confectioner Wm. Wrigley Jr. Co. for an estimated $23 billion in cash. The deal would marry brands that sweet-toothed Americans have munched on for decades: Mars owns Snickers and M&Ms; Wrigley's gum brands include Juicy Fruit, Orbit, Extra and Big Red.

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Who's the boss? You or your debt?

In these tough financial times, many look at debt as a dirty word. But who among us is debt free?

Chances are if you have a house or a car you've financed that purchase. And even day-to-day expenses such as gas, groceries or business lunches are handled with credit cards.

To be financially sound, the goal should be to have a handle on your debt. You should have control over what you owe instead of it controlling you.

My husband and I do this about every six months or so because, like most people, our finances change periodically. If we get raises, buy a new car or add a new member to the family, the money situation changes.

In order to really know where your money's going, you need a realistic assessment of what comes in and what goes out.


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(AFX UK Focus) 2008-04-29 00:00 Business Highlights

(AP) - Mars buying gum maker Wrigley with financing from Buffett

CHICAGO (AP) -- The Oracle of Omaha is betting that the country's candy jar is recession-proof.

With financing from Warren Buffett, candy maker Mars Inc. on Monday said it is buying confectioner Wm. Wrigley Jr. Co. for an estimated $23 billion in cash. The deal would marry brands that sweet-toothed Americans have munched on for decades: Mars owns Snickers and M&Ms; Wrigley's gum brands include Juicy Fruit, Orbit, Extra and Big Red.

Buffett's Berkshire Hathaway Inc. will purchase a $2.1 billion minority equity interest in the Wrigley subsidiary once the deal is completed. The Omaha, Neb.-based company also offered $4.4 billion of subordinated debt to fund the deal.

If the buyout receives regulatory and shareholder approval, the combined companies would leapfrog over Britain's Cadbury Schweppes as the world's largest confection maker -- a move that's already fueling speculation that the buyout could spawn a round of candy industry consolidation.


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CONSUMER WATCH

Have trouble with debt? There's help If you are a compulsive debtor, you need to get yourself some help.

You are not someone who is in financial trouble because of sloppy spending habits. You're in it for the emotional high that you get when making purchases.

It's time to reverse that destructive behavior.

Bruce McClary, corporate trainer for ClearPoint Financial Solutions Inc., a nonprofit credit-counseling firm based in Henrico County, said that can't be fixed in a one-hour debt-counseling session.

You may need debt counseling plus a support group. Debt counseling, the kind you get at such organizations as ClearPoint, (877) 422-9044, can help you get your finances on track.

A support group such as Debtors Anonymous, (800) 421-2383, can help uncover the reasons for your spending behavior and provide emotional support so that you can recover.


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Interest rate rises brake loan funding

Interest rate hikes have put a brake on lending, with firms and home buyers borrowing less, new figures show. Total commercial finance commitments slumped by 10.4 per cent in February, to $45.723 billion, the Australian Bureau of Statistics (ABS) said on Tuesday. Lease finance dropped 4.4 per cent, to $596 million while housing finance for owner occupiers fell 6.0 per cent, to $14.947 billion. Personal finance commitments went against the down trend, rising by an adjusted 0.9 per cent in the month, to $7.451 billion. CommSec equities economist Savanth Sebastian said the latest lending figures were further indicators the recent interest rate rises have impacted on the Australian economy. "For the Reserve Bank the rate hikes have worked and the emerging slowdown would fit right in with its long term plans of a soft landing while keeping inflation under check," he said.


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Concurrent Computer Corporation Announces Third Quarter Fiscal Year 2008 Financial Results

Concurrent (Nasdaq: CCUR), a worldwide leader of on-demand and real-time computing technology, today announced its results for the third quarter of its fiscal year ended June 30, 2008. The Company also announced that its Board of Directors has authorized management to seek approval from Concurrent's stockholders for a reverse split of Concurrent common stock at a ratio of one-for-ten.

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GreenPath Counselors Advise Diligence in Tax Rebate Spending

As Money Smart week in Michigan comes to a close, and National Financial Literacy month begins to wind down, counselors at GreenPath Debt Solutions advise consumers to exercise good money management practices when they receive their imminent U.S. Economic Stimulus tax rebate checks beginning next week.

"Everybody's thrilled about receiving unexpected cash right now, but unnecessary spending could lead to a lot of personal finance problems," said Mark Ernst, a GreenPath credit counselor in Farmington Hills, Mich. "Given the state of many families' finances lately, I'd like to see people think about their rebate as a way to overcome financial challenges first; they can stimulate the economy later."

GreenPath counselors suggest consumers prioritize their rebate spending as follows:Pay off any late utility or housing expenses.Pay down credit card debt.


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Franco-American churches wax, wane

The Rev. Louis G. Gagnier came to Springfield in 1873. His arrival from Canada indicated that the local French-Canadian community now had a priest who would stay and see that churches of their own were built and maintained.

Gagnier said his first Mass in Springfield for 180 families at the Indian Orchard Water Rights Co. Hall at the corner of Myrtle and Main streets on March 2, 1873. One week later he ministered to the needs of another large group of French-Canadians by holding services at the Springfield City Hall.

The dynamic priest came to be known as the "Builder of Churches." During his more than 50 years in the priesthood, he served at and helped create more than 30 churches throughout New England. In Springfield he founded two of the city's three French-Catholic parishes, St.


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DATA SNAP: UK Mar Net Consumer Lending +GBP8.2B Vs +GBP9.6B

LONDON (Dow Jones)--U.K. consumer appetite for debt fell to its lowest level for nearly six years in March, as mortgage lending fell and mortgage approvals hit a series low, data from the Bank of England showed Tuesday. Total net consumer lending grew GBP8.2 billion in March from a downwardly revised GBP9.6 billion in February. That was lower than the GBP8.5 billion expected by economists. The BOE said February's original net lending was reported at GBP9.8 billion. The biggest monthly falls came in mortgage lending and consumer credit. Mortgage lending slid to GBP6.9 billion in March from a downwardly revised GBP7.3 billion in February, while consumer credit fell to GBP1.2 billion, as forecast, from GBP2.3 billion in February. Meanwhile, mortgage approvals sunk to 64,000 in March from a downwardly revised 72,000.


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Target: Financial abuse of elderly

Anne Mills lost her financial security in 2005 after giving power of attorney to a neighbor who sold her Charlotte house. That neighbor is now charged with embezzling from the sale.

The 89-year-old woman's misfortune isn't unique. Elderly people are often the victims of such cases in North Carolina.

But one thing sets this case apart: It's being prosecuted. After three years without a single prosecution, Mecklenburg County is working to crack down on elderly financial exploitation. In a recent 20-month period, county social workers calculated $1.6 million in losses from cases they investigated. And the problem, which costs taxpayers when exploited seniors are forced to go on Medicaid, is destined to grow as baby boomers age.

Such cases can be difficult to prosecute, some law enforcement authorities say.


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Families put less emphasis on shopping

Eastsiders Adrian and Haydee Duran have three master's degrees between them, but they're learning how to manage their money better during GECU's second yearlong Savings Challenge contest.

"We figured with our education, we'd be fine, but we're having to rethink our plan for the future and make sure we're OK," said Haydee Duran, a schoolteacher.

Haydee and her husband, Adrian, the .


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UPDATE: UK Consumer Lending Dn, Mtge Approvals Hit Series Low

LONDON (Dow Jones)--U.K. consumer appetite for debt fell to its lowest level for nearly six years in March while mortgage approvals hit a series low as the global credit crunch continued to affect the economy, data from the Bank of England showed Tuesday. Total net consumer lending grew GBP8.2 billion in March from a downwardly revised GBP9.6 billion in February. That was lower than market expectations of GBP8.5 billion, according to a Dow Jones Newswires survey of economists. February's net lending figure was revised from GBP9.8 billion reported last month. The biggest monthly falls came in mortgage lending and consumer credit. Mortgage lending slid to GBP6.9 billion in March from a downwardly revised GBP7.3 billion in February, while consumer credit fell to GBP1.2 billion, as forecast, from GBP2.3 billion in February.


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Revenue of $402.4 Million, Adjusted Net Income of $18.7 Million and $255.2 Million of Non-GAAP Cash and Cash ...

CDC Corporation (NASDAQ: CHINA), a leading global enterprise software and new media company, today announced its financial results for the fourth quarter and year-ended December 31, 2007. Total revenue for full year 2007 was (U.S.)$402.4 million, an increase of 30 percent from (U.S.)$309.5 million in 2006. Adjusted net income(a) was (U.S.)$18.7 million for 2007. Non-GAAP cash and cash equivalents(c) were (U.S.)$255.2 million as of December 31, 2007.

"Despite the economic downturn, I believe our company is in a strong position," said Peter Yip, CEO, CDC Corporation. "We finished 2007 with record Q4 revenue of (U.S)$107.7 million while our software business achieved record milestones for the full year in all key metrics including license, maintenance and services revenue, and adjusted net income.


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(AFX UK Focus) 2008-04-30 11:03 India's sovereign rating affirmed at 'BBB-' with stable outlook - S&P

MUMBAI (Thomson Financial) - Standard & Poor's Ratings Services said it has affirmed its 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India, and added the outlook on the long-term rating remains stable, reflecting the country's strong economic prospects, external balance sheet, and its deep capital market, which supports a weak, but improving, fiscal position.

The rating agency said India's economic prospects remain strong, underpinned by the dynamic service sector, gradual deregulation of the industrial sector, continued trade liberalization, and modest improvements in infrastructure.

Economic growth is also benefiting from higher consumption and private investment demand, due to a growing middle class and favourable demographics, S&P said.

"Commitment to fiscal consolidation across all levels of government looks to be entrenched, aided by both strong revenue collection and expenditure controls," S&P's credit analyst Takahira Ogawa said.


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Invacare Corporation Reports Improved Earnings for Its First Quarter (3º)

24/04/2008 10:00:00 Business Wire in the Company s distribution businesses in the region and at the Company s subsidiary which manufactures microprocessor controllers, as well as continued cost reduction initiatives.
As previously announced, the Company is continuing to focus on reducing costs by moving manufacturing from New Zealand to China.
This process is partially complete, on track and expected to be fully complete during the third quarter of this year.
FINANCIAL CONDITION Total debt outstanding was $538.7 million at the end of the quarter, resulting in a debt-to-total-capitalization ratio of 48.2% versus 49.3% at the end of 2007.
The Company s debt outstanding increased slightly by $0.9 million during the quarter largely as a result of the negative operating cash flow for the period.


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City loan fund helps make art pay

Once they conceived the idea for a combined crafts and clothing boutique, the pieces came together quickly for partners Matthew Brown and Jaime Jennings.

The owners of Fancy Tiger Crafts and Clothing on South Broadway wrote their business plan, lucked into the location they wanted and opened their doors mere months after the idea popped into their heads.

Luck was with them again when they needed cash to grow, in the form of the Creative Enterprises Revolving Loan Fund, a program administered by Denver's Micro Business Development Corp.

The program, which doubled its maximum loan amount to $40,000 this year, is funded through $100,000 in annual Community Development Block Grant Funds and is designed to help small arts-related businesses start or expand in Denver.

The seed for the loan program came from the Mayor's Task Force on Creative Spaces, which in early 2006 found that the city's artists didn't typically view what they were doing as a business enterprise, even if they used their art to make a living.


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