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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