Posts Tagged money
Western Union Is Said to Be Nearing $1 Billion Purchase of Travelex Unit
Posted by Oksana Grebenjuk in Business on Июль 5th, 2011
Western Union Co. (WU), the world’s largest money-transfer firm, is in talks to buy a division of Apax Partners LLP’s Travelex foreign-exchange business for about $1 billion, according to people with knowledge of the matter.
Western Union, based in Englewood, Colorado, may announce an agreement to acquire Travelex’s global business-payments unit as early as next week, said the people, who didn’t wish to be named because the talks are private.
A deal would help Western Union Chief Executive Officer Hikmet Ersek, 50, add revenue from corporate transactions overseas. Consumer-to-consumer services provided 84 percent of the firm’s $1.28 billion revenue in the first quarter, according to the company’s financial report. Travelex describes its business-payments unit as the world’s largest non-bank provider of foreign exchange and risk solutions.
“This business does have good margin characteristics,” said James Friedman, an analyst at Susquehanna Financial Group in New York who has a “positive” rating on Western Union shares. “It certainly has the potential to be more lucrative than the consumer. The fee per transaction is really huge.”
Susquehanna facilitates trading in Western Union shares, which gained 21 cents, or 1.1 percent, to $20.24 at 4:15 p.m. in New York Stock Exchange composite trading. Read the rest of this entry »
Three Critical Things You Need to Know About Emergency Funds
Posted by Oksana Grebenjuk in Fund Markets on Апрель 5th, 2011
Everyone talks about how important it is to have an emergency fund, but few people talk about what kind of emergency fund that should be.
After all, there’s a big difference between stuffing money in a shoe box for a rainy day and setting up a savings account. Take it up a level, and there’s a big difference between letting your money hang out in a standard savings account and investing in a no-penalty CD or money market account.
So if you’re wondering exactly where you should put those emergency funds, here are some thoughts to consider:
You Want to Make Sure Your Money Is Accessible
We’ll start with the obvious. This is an emergency fund, so while you may want your money to earn a little interest, little is the critical word here. Read the rest of this entry »
Stocks fall as worries mount over Japanese economy
Posted by Oksana Grebenjuk in Fund Markets on Март 17th, 2011
Mounting concerns over the impact of the massive earthquake in Japan pushed stocks lower Monday. The earthquake and tsunami along Japan’s northeast coast killed thousands and has raised fears of a slowdown in the world’s third-largest economy.
All 10 company groups that make up the Standard and Poor’s 500 index fell. Utilities companies lost 1.5 percent, the most of any group, on worries that the disaster may lead to dimming prospects for nuclear power plants.
The S&P index, the basis for most U.S. mutual funds, fell 12 points, or 0.9 percent, to 1,292.
The Dow Jones industrial average fell 89, or 0.7 percent, to 11,958. The Nasdaq composite fell 18, or 0.7 percent, to 2,697.
«Everything is linked now,» said David Katz, senior portfolio strategist at Weiser Capital Management. «There is no such thing as a catastrophe happening in any major country and it not affecting the global economy.» Read the rest of this entry »
Is the Newest iPad Worth It?
Posted by Oksana Grebenjuk in Budget, Favourites on Март 16th, 2011
The newest iPad is thinner, faster and adds not one but two cameras. But as Apple ( AAPL: 351.99, +5.32, +1.53% ) CEO Steve Jobs extolled the device’s newest features today, many consumers had only one real question: Should I buy one?
One thing is for certain: Tablet fever doesn’t seem to be going away. Apple already sold the lion’s share of tablets last year, some 15 million overall — approximately 85% of the tablet market — which generated $9.5 billion in revenue for the company. This year, dozens of competitors are expected to debut competing tablet computers, and tablet sales across the board are expected to triple. Samsung and Motorola Mobility ( MMI: 25.36, +0.15, +0.59% ) tablets are already available; devices from Research in Motion ( RIMM: 63.38, +0.78, +1.24% ) , HP and HTC are anticipated later this year.
With such a considerable head start, the iPad is still the tablet to beat, analysts say. «They’re raising the bar for everyone else,» says Joseph Beaulieu, an equity analyst for Morningstar. The competitors have yet to build something that’s as easy to use, speedy, and good-looking, critics say. Plus, the also-rans aren’t cheaper: The big names already on the market range from $500 (also the price of the new entry-level iPad 2) to $900, depending on memory and whether you want the ability to hook up with a wireless provider. As of today, they’re all more expensive than the first-generation iPad, which now starts at $400, Apple announced today. Read the rest of this entry »
Move Over, Apple! My Tablet Cost $200
Posted by Oksana Grebenjuk in Trading Markets on Март 15th, 2011
I didn’t want to spend $500 for a tablet computer. I didn’t even want to spend $400. So instead I went online and bought a brand-new tablet for a bit less. The cost? Less than $200 … and about 20 minutes of my time. No kidding.
It’s hardly a perfect comparison—more on this below—but the tablet is perfect for what I want. I’m not talking about one of those junk tablets from a Chinese website, either.
I bought a Barnes & Noble Nook Color tablet (for $190 plus tax from a temporary online promotion, down from the usual $250). And then I downloaded a very simple, perfectly legal software fix from the Internet that turned it into a fully functioning tablet running on Google’s Android platform. The fix, known as a «rooting,» unlocks Barnes & Noble’s proprietary overlay. The instructions came via Ars Technica, a reputable site devoted to technology, and were pretty easy to follow.
I wasn’t really expecting it to work. I tried it as an experiment. But the results were remarkable.
The Nook Color, which was designed mainly for reading books and magazines, is about half the size of an iPad or a Xoom. It weighs about 30% less. It runs on WiFi, but not 3G. It has an absolutely superb screen. And, once you’ve unlocked the software, it runs many Android applications, from email to news readers TweetDeck to, yes, Angry Birds. Read the rest of this entry »
Rising Oil Prices Pose New Threat to U.S. Economy
Posted by Oksana Grebenjuk in Favourites, Trading Markets on Март 1st, 2011
The American economy just can’t catch a break. Last year, as things started looking up, the European debt crisis flustered the fragile recovery. Now, under similar economic circumstances, comes the turmoil in the Middle East.
Energy prices have surged in recent days, as a result of the political violence in Libya that has disrupted oil production there. Prices are also climbing because of fears the unrest may continue to spread to other oil-producing countries.
If the recent rise in oil prices sticks, it will most likely slow a growth rate that is already too sluggish to produce many jobs in this country. Some economists are predicting that oil prices, just above $97 a barrel on Thursday, could be sustained well above $100 a barrel, a benchmark.
Even if energy costs don’t rise higher, lingering uncertainty over the stability of the Middle East could drag down growth, not just in the United States but around the world.
“We’ve gone beyond responding to the sort of brutal Technicolor of the crisis in Libya,” said Daniel H. Yergin, the oil historian and chairman of IHS Cambridge Energy Research Associates. “There’s also a strong element of fear of what’s next, and what’s next after next.” Read the rest of this entry »
Spanish Christmas lottery hands out $3 billion
Posted by Oksana Grebenjuk in Budget on Декабрь 24th, 2010
Spain’s beloved Christmas lottery sprinkled 2.3 billion euros ($3 billion) in holiday cheer across the country Wednesday, handing out winnings eagerly welcomed by a nation facing 20 percent unemployment.
One of the most awaited days of the year in Spain served up merry moments for people struggling to make mortgage payments and pay bills, or those seeking jobs. One lottery vendor said he had hired a medium to lure good luck.
The government-run lottery billed as the world’s richest has no single jackpot but operates a complex share-the-wealth system in which thousands of five-digit numbers running from 00000 to 84999 win at least something. It is known as «El Gordo» (The Fat One) and dates back to 1812.
Tax-free winnings range from the face value of a 20-euro ($26.31) ticket — in other words, you get your money back — to a top prize of 300,000 euros ($394,650).
The sweepstakes, which goes on for three hours, informally ushers in the Christmas season. Many Spaniards spend the day glued to TV sets, radios and computers, waiting to see if they are among the lucky. People often team up to buy shares of tickets sold by bars, sports clubs and business offices. Read the rest of this entry »
Black Friday Not So Bleak
Posted by Oksana Grebenjuk in Trading Markets on Декабрь 2nd, 2010
Much money was spent in both Europe and the US this past weekend—but the sources and beneficiaries of those funds couldn’t have been more different. In Europe, an Irish bailout took shape—€85 billion in funds from the Irish government, the IMF, the EU, and select non-eurozone European countries—but failed to significantly calm European markets. Spanish and Portuguese bond yields continued rising (in contrast, yields fell significantly after the original bailout), European stocks dropped, and the euro weakened.
Investors may remain focused on Europe’s periphery, but a disorderly euro collapse (a valid but unlikely threat to the bull) remains firmly off the table for now. And however the euro bailout shakes out in the near term, PIIGS yields will likely remain higher longer term. The German debt restructuring proposal (post 2013) could make last decade’s low, tightly clustered rates a thing of the past. Markets have already begun (and will continue) pricing different risk levels for different eurozone countries.
As European stocks fell sharply, US markets fought upward from an opening deep in the red to close down only a little. What made US investors think twice Monday? Consumers, both online and in person, took advantage of Thanksgiving weekend and Black Friday deals, snapping up everything from toys, to shoes, to jewelry, and electronics. According to one survey, the average shopper spent an average $365 over the weekend compared to $343 last year.
Multiplied by an estimated 212 million shoppers hitting stores (about 8% more than last year and the most since the survey’s 2004 inception), the numbers don’t look too shabby. True, the value of in-store sales was up only 0.3% from last year, but that’s just part of the story. Fighting lines at brick-and-mortar stores is fast becoming a thing of the past as consumers increasingly turn to their computers. According to preliminary reports, online sales on Black Friday were up anywhere from 9% to 15.9% over last year. Read the rest of this entry »
What The Fed Does not Want You To Know
Posted by Oksana Grebenjuk in Budget on Ноябрь 17th, 2010
Yesterday gold and silver staged a sharp reversal day after first making new highs for the year intra-day. There were a couple of reasons for the sharp pullback. The first was the stronger U.S. Dollar Index and the second was the sudden increase in margin requirements for silver. While we are not sure why the margin requirements increased for silver so suddenly we do know why the U.S. Dollar Index traded higher.
The U.S. Dollar Index caught a bid yesterday due to the fact that Ireland and Portugal bunds spreads are the widest they have ever been. In other words these two countries are in serious trouble. Other European Union countries remain in trouble and could soon face defaults as well.
In March, April, May, and June of this year gold and the U.S. Dollar Index actually rallied higher together. So please understand that gold does not just trade inverse to the U.S. Dollar Index. Gold and silver are now being viewed by the investor community as the only true form of currency.
While many say gold is in a bubble this simply does not hold any merit. A bubble occurs when everyone owns something such as a tech stock in 1999 or a house in 2005. Ask your next door neighbor if they own any gold outside of their jewelry and the answer is likely to be ‘no’. If gold was not so important the government would not want to tax it as a collectible at the highest rate allowed. Read the rest of this entry »
Who Can Print More Money — FED or BoJ?
Posted by Oksana Grebenjuk in Currency on Ноябрь 8th, 2010
Not that long ago central banks were in a race who can slash interest rates to zero first. Seems like a distant memory, but the Bank of Japan was the winner then. Now a new competition is shaping up – who can print more (funny) money. So far the FED is leading, after revealing details of the next round of QE. This time it is $600 billion, about a $100 billion more than had been previously hinted. On balance, though, it is not much of a difference. At this stage of the game, what is $100 billion, really? FED does not have neither amount and must create the money with a few keystrokes, otherwise known as «printing».
In response, the Bank of Japan announced own scheme of easing. It is smaller, at about $62 billion, but it can always be increased. However, the BoJ plans to spend it in other ways than its US counterpart. It is getting even more adventurous. Instead of simply buying bonds, the BoJ also wants to purchase Japanese real-estate investment trusts, ETF’s tracking Nikkei 225 and Topix, as well as corporate debt. Looks like weakening the Yen is not the only objective, but the central bank is also engaging in «pumping» the domestic stock market.
All moves by the FED are being mimmicked by the BoJ. To a smaller degree for now, but they are likely to increase the buying spree soon. Most would argue that so far all those efforts had no impact on the Yen. Perhaps, but while the JPY has not reversed against the Dollar, it became, for all practical purposes, pegged to the USD. Over the last three weeks, the USD-JPY has been trading in a 200 pips range in a situation similar to 2004, when it was stuck at just above 100 level. This can easily last for few more weeks, or months, until one of the central banks eventually prints enough money to completely degrade its currency. At that time we will have a dubious winner of this competition. Read the rest of this entry »
Свежие комментарии