Financial News Headlines

Weak Euro Hurts Gold

October 16th, 2011

Persistent trouble in the Eurozone is weakening the euro and boosting the value of the dollar, a situation that gold investors are viewing as a sign it’s time to get out of the precious metal. Gold stumbled $38.70 to $1,637.90 for December delivery on rumors that Germany has little faith in the current plan to fix the European Union and pull Greece out of default. Experts say the plan will need a large cash injection from the European Central Bank, and it has not agreed to commit. Gold is fast losing its reputation as a safe haven hedge, particularly after its September waffling, and large buyers are showing hesitation in big gold commitments. For more on this continue reading the following article from TheStreet. < Read more…

Tags: Gold

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Prepare for Holiday Spending – Christmas Creep

October 15th, 2011

Its October. Most people think Halloween and Fall foliage, but then there are the retailers who put up their Christmas displays right across from the sexy witch costumes to remind us that its time to start shopping for gifts. I dont need to see that (I mean the Christmas displays. Sexy witches are fine). Im there trying to put the final touches on my Macho Man Randy Savage costume (may he rest in peace). Thats my gift to the world. But the fact remains, the holidays are creeping up on us. Time to think about your budget.

Step 1: Start saving

If you dont already have money in your budget for the holiday season, then its time to start saving.

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Tags: Christmas, Christmas Creep

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Economic confidence plummets year over year

October 15th, 2011

Despite remaining relatively stable in recent weeks, economic confidence is way down from a year ago, said a recent report from Gallup.

Gallup’s Economic Confidence Index showed modest improvement up to -49 during the week ending October 9, up from -50 the previous week.

According to Gallup, its Economic Confidence Index hit is down a whopping 29 points this year. The high point occurred in January (-21) and the low occurred in early October (-50). This “underscores just how negative the average American’s mindset has turned in a short time,” the Gallup report stated.

During the week ending October 9, three-quarters of Americans said the U.S. economy

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Tags: Economic Confidence, Year

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Pull Out Your Money – Its That Time Of The Year Again

October 11th, 2011

 

 

The 2012 cars are on the way Despite the fragile economy, American car buyers are lining up to test drive fuel-efficient four-doors. The demand for automobiles, coupled with a comeback in production for Japanese carmakers, means the auto industry is heating up. For car buyers there are plenty of great models to choose from, from domestic as well as import brands. Yet there’s always that nagging feeling: is it worth waiting for something even better just around the corner?   Toyota If you’re looking for a mid-sized family car, wait until 2012, when most of the biggest sellers in this category will be redesigned and updated with more efficient engines and advanced technologies. Toyota Read more…

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Like elephants, some card companies never forget

September 26th, 2011

I was recently solicited by a credit card company. I didn’t need another credit card, but this offered airlines miles that I collect, so I applied. They didn’t approve the application because: “You have filed for bankruptcy and your previous account(s) with us was included in that filing. This includes any of your accounts issued by (us) such as Visa, MasterCard, store cards or gas cards.” Liz, the bankruptcy was 12 years ago, and I am very well financially situated now. I thoug

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Tags: Card, Card Companies

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UBS’s trading loss: Swiss miss

September 26th, 2011

THE latest annual report of UBS, Switzerland’s biggest and most error-prone bank, states that “disciplined risk management and control are essential to our success.” That assertion has been proved right in the most embarrassing way, after allegedly unauthorised bets cost the bank a whopping $2.3 billion.

Kweku Adoboli, a 31-year-old trader (pictured), has been arrested and charged with fraud. Mr Adoboli has not yet entered a plea. The case bears striking similarities to that of Jérôme Kerviel, the man who almost laid low Société Générale, France’s third-largest bank, in 2008. Both men star

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