Financial

  • Erie Indemnity posts 2Q profit Associated Press - 3 hours ago

    On a per-share basis, the Erie, Pennsylvania-based company said it had profit of $1.07. The insurance company posted revenue of $1.63 billion in the period. Erie Indemnity shares have declined 10 percent ...

  • Hercules recalling 90,000 SUV tires Associated Press - 9 hours ago

    An Ohio company is recalling about 90,000 SUV tires because the tread can separate, causing a loss of air and increasing the risk of a crash. The recall covers certain 15- and 16-inch Hercules Tire & Rubber ...

  • US average rate on 30-year home loans falls to 3.98 percent Associated Press - 9 hours ago

    Average U.S. long-term mortgage rates fell for a second straight week, with the key 30-year rate slipping below 4 percent. Here's a look at rates for fixed- and adjustable-rate mortgages this week and ...

  • 8 Money Tips I Wish I Knew Before I Went to College US News - 14 hours ago

    If you have the benefit of learning money lessons before you go to college, you will be ahead of the curve. Just listen to an episode of Dave Ramsey and you'll find people later in life who are struggling financially, in debt, wishing they had learned money lessons a lot earlier. You can learn simple money lessons early and avoid these common pitfalls.

  • CD rates for July 30, 2015 Bankrate.com - 17 hours ago

    Interest Rate Roundup Compare CD rates nationally and in your area. CDs 1-year CD yields: 0.27% 5-year CD yields: 0.87% Rates on certificates of deposit were unchanged in Bankrate's July 29 national survey ...

  • Mortgage rates fall for the 2nd week in a row Bankrate.com - 17 hours ago

    Mortgage rates fell for the second consecutive week even as government bond yields increased ahead of the July 28-29 Federal Reserve meeting. Additionally, not-so-great housing market data has left the mortgage industry somewhat uneasy.

  • Tax loopholes for using 401(k) to pay off house? Bankrate.com - 17 hours ago

    Seven months ago (before I knew about my termination), my wife and I decided to extract $180,000 to pay off the mortgage of our only residence in preparation for retirement. In addition to the 20% I paid when receiving the withdrawal to pay off our mortgage, the IRS is asking for another $15,000. Question: Are there any tax loopholes available, because we, in effect, rolled the money into our home?

  • Bank loyalty rewards you may have missed Bankrate.com - 17 hours ago

    When shopping for a mortgage, car loan or other banking product, it might be tempting to simply take the first good deal you see, regardless of who's offering it. At Wells Fargo, customers who have a previous relationship with the bank and sign up for automatic payments can receive discounts on car loans, student loans and personal lines of credit, says Wells Fargo bank spokesman Jason Vasquez.

  • ITG may pay record $20.3m penalty to SEC Financial Times - Thu, Jul 30, 2015 11:07 AM NZST

    ITG, a brokerage that runs an off-exchange trading platform for equities, on Wednesday said it may pay a record penalty of $20.3m to the Securities and Exchange Commission for violations at a proprietary ...

  • Lew informs Congress he extending debt-limit measures Associated Press - Thu, Jul 30, 2015 9:29 AM NZST

    Treasury Secretary Jacob Lew told Congress on Wednesday that he will extend for another three months the authority he is using to take emergency measures to keep from breaching the nation's borrowing limit. ...

  • Pick your plastic: Secured versus prepaid cards Bankrate.com - Wed, Jul 29, 2015 10:00 PM NZST

    Say you want to tighten up your spending and control debt, and you're eyeing either a secured credit card or prepaid debit card. For starters, only secured cards can help you improve your credit score. After all, secured credit cards are much like regular credit cards, except that you must make a security deposit before using the card, usually $300 to $500.

  • See how secured and prepaid cards compare Bankrate.com - Wed, Jul 29, 2015 10:00 PM NZST

    Credit Cards Secured cards and prepaid cards have striking similarities but they are different in many ways. When considering either card, please examine fees carefully. Secured cards vs. prepaid cards ...

  • AMP stops investor housing loans for now AAP - Wed, Jul 29, 2015 7:28 PM NZST
    AMP stops investor housing loans for now

    AMP Bank has stopped lending to investors as mortgage brokers warn interest rate hikes for landlords could lock out first-time buyers but lead to further discounts for owner occupiers. AMP Bank has hiked rates on its existing loans to landlords by 47 basis points, the biggest and latest lift by a lender as the industry moves to arrest growth in investment lending. It will not take any new investor property loans until later in 2015, depending on market conditions.

  • ASIC to recover costs of investigations AAP - Wed, Jul 29, 2015 6:15 PM NZST
    ASIC to recover costs of investigations

    The corporate watchdog will attempt to recover the costs of its investigations after spending sizeable sums on prosecutions and civil proceedings. The Australian Securities and Investments Commission (ASIC) said it had rarely recovered its investigation expenses and costs, but it would now seek to recover the money from parties that had caused the costs and expenses to be incurred. ASIC will use current laws to apply to the recovery of staff salaries, travel expenses, expert fees and legal fees to investigations starting from Wednesday and some investigations which commenced before that date.

  • Kimco Realty reports 2Q results Associated Press - Wed, Jul 29, 2015 8:39 AM NZST

    The real estate investment trust, based in New Hyde Park, New York, said it had funds from operations of $182.7 million, or 44 cents per share, in the period. The average estimate of 11 analysts surveyed ...

  • Southern Missouri Bancorp posts 4Q profit Associated Press - Tue, Jul 28, 2015 10:31 AM NZST

    On a per-share basis, the Poplar Bluff, Missouri-based company said it had net income of 47 cents. The bank holding company posted revenue of $13.9 million in the period. For the year, the company reported ...

  • Ex-leasing company official sentenced for cheating clients Associated Press - Tue, Jul 28, 2015 8:39 AM NZST

    A man who used his position at an office equipment leasing company to cheat clients out of more than $600,000 has been sentenced to 30 months in prison. Jason Lee Lum, of Yardley, Pennsylvania, also must ...

  • AvalonBay reports 2Q results Associated Press - Tue, Jul 28, 2015 8:24 AM NZST

    The Arlington, Virginia-based real estate investment trust said it had funds from operations of $290.5 million, or $2.18 per share, in the period. The average estimate of 14 analysts surveyed by Zacks ...

  • Pharma M&A: portfolio theory Financial Times - Tue, Jul 28, 2015 5:33 AM NZST

    Friendly M&A is cheaper and simpler than the hostile variety. Luckily for Teva Pharmaceutical it had a choice. On Monday, Teva, a leading generic drugmaker, announced the $40.5bn acquisition of the generics ...

  • Creditors: Cyprus on road to recovery, reforms essential Associated Press - Tue, Jul 28, 2015 1:57 AM NZST

    Cyprus' creditors say the bailed-out country is on the path to economic recovery after years of recession but that it needs to follow through on structural reforms to lock in progress made and keep growth ...

  • Greece, creditors get down to business on bailout deal Associated Press - Tue, Jul 28, 2015 12:20 AM NZST
    Greece, creditors get down to business on bailout deal

    Technical talks over Greece's third bailout in five years are poised to start in the next day or so as negotiators representing the country's creditors continued arriving in Athens Monday. The talks involving ...

  • NAB lifts rates on investor property loans AAP - Mon, Jul 27, 2015 5:47 PM NZST

    The National Australia Bank has joined the Commonwealth Bank and ANZ Bank in raising the interest rates it charges property investors, following measures announced by the banking regulator. NAB will lift variable interest rates on interest-only home loans and line of credit facilities by 0.29 percentage points. Interest-only loans are the predominant structure for investors.

  • Stocks to watch on Monday AAP - Mon, Jul 27, 2015 9:49 AM NZST

    Stocks to watch on the Australian stock exchange on Monday, July 27: CBA - COMMONWEALTH BANK OF AUSTRALIA - down 49 cents, or 0.57 per cent, at $85.81 The Commonwealth Bank has become the second major ...

  • Get Schooled: 5 Money Lessons to Learn Before Marriage US News - Sat, Jul 25, 2015 7:06 AM NZST

    Arielle Proctor says doesn't think she and her husband of two years have ever fought over money. "One of the gifts my parents gave us when we were engaged was [Dave Ramsey's] Financial Peace University," Proctor says. Over a nine-week period, Proctor and her fiancé attended weekly classes that helped them evaluate their finances, set goals for the future and plan a course of action to meet those goals.

  • Stop. Drop. And Read This Before Becoming a Co-signer. US News - Sat, Jul 25, 2015 3:49 AM NZST

    There are many reasons to consider cosigning a loan. Your children need your signature to take out student loans to pay for college . Maybe your parents need money and have asked you to cosign since they ...

  • Greek talks to begin after 'technical' issues ironed out Associated Press - Sat, Jul 25, 2015 1:00 AM NZST
    Greek talks to begin after 'technical' issues ironed out

    High-level talks between Greece and its European creditors on a third bailout for the cash-strapped country have been delayed until logistical matters are sorted out, officials said Friday. Greek government ...

  • Moody's tops Street 2Q forecasts Associated Press - Fri, Jul 24, 2015 11:09 PM NZST

    On a per-share basis, the New York-based company said it had profit of $1.28. The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was ...

  • Are savings bonds or CDs better for grandkids? Bankrate.com - Fri, Jul 24, 2015 10:00 PM NZST

    Should I get savings bonds or certificates of deposit? To Nanna's question: At today's rates, I'll take the savings bonds. If you think your grandkids will want to cash out their bonds before the 20-year mark, then you may want to consider a Series I savings bond.

  • CBA lifts property investor rates AAP - Fri, Jul 24, 2015 3:38 PM NZST
    CBA lifts property investor rates

    The Commonwealth Bank has become the second major lender to lift the interest rates it charges property investors following an intervention by the banking regulator. The bank will increase its variable rate on investor home loans by 0.27 percentage points to 5.72 per cent, while fixed rate investor loans will also increase between 0.10 percentage points and 0.40 percentage points. It has also cut fixed mortgage rates for owner-occupied home loans by between 0.10 and 0.30 percentage points.

  • CBA lifts investor interest rates AAP - Fri, Jul 24, 2015 2:00 PM NZST

    The Commonwealth Bank has become the second major bank to lift interest rates for property investors in an effort to rein in investor lending. The lender will lift the variable rate on investor home loans by 0.27 percentage points to 5.72 per cent, while fixed rate investor loans will also increase between 0.10 percentage points and 0.40 percentage points. It followed a similar move by ANZ on Thursday and follows an order from the Australian Prudential Regulatory Authority for banks to keep investor lending growth below 10 per cent a year.

  • Southern National Bancorp posts 2Q profit Associated Press - Fri, Jul 24, 2015 7:43 AM NZST

    The bank, based in McLean, Virginia, said it had earnings of 20 cents per share. The holding company for Sonabank posted revenue of $10.8 million in the period. Southern National Bancorp shares have increased ...

  • Bailout talks back in Athens, as tough conditions approved Associated Press - Fri, Jul 24, 2015 5:28 AM NZST
    Bailout talks back in Athens, as tough conditions approved

    Discussions over Greece's third bailout in five years are set to begin in Athens imminently after Greece's parliament approved Thursday tough new conditions set by European creditors. Officials in Athens ...

  • 13 Documents Mortgage Lenders Need From Homebuyers US News - Fri, Jul 24, 2015 4:12 AM NZST

    One of the changes brought about by the foreclosure crisis was a realization that, before granting loans, lenders need to verify that borrowers can make their monthly mortgage payments. That led to a number of changes in how mortgages are granted, including what is called the Ability to Pay Rule, which went into effect in January 2014. Borrowers now need to provide more documentation of income and assets so the lender can verify that you can, indeed, afford the house you're buying with the mortgage you want.

  • Stocks steady but NZ dollar surges after small rate cut Associated Press - Fri, Jul 24, 2015 1:14 AM NZST
    Stocks steady but NZ dollar surges after small rate cut

    Global stock markets were mostly higher Thursday after Greece passed another bailout hurdle and New Zealand cut interest rates. KEEPING SCORE: In Europe, all the major indexes were flat, with France's ...

  • Nasdaq OMX beats Street 2Q forecasts Associated Press - Thu, Jul 23, 2015 11:31 PM NZST

    The Nasdaq OMX Group Inc. (NDAQ) on Thursday reported second-quarter profit of $133 million. On a per-share basis, the New York-based company said it had net income of 77 cents. Earnings, adjusted for ...