Forexpros – Asian stock markets were broadly higher on Monday, as market sentiment improved after better-than-expected Japanese economic data and strong US retail sales figures helped ease fears over the global economy.lt;br /gt;lt;br /gt;During late Asian trade, Hong Kongs Hang Seng Index surged 2.5%, Australiaamp;rsquo;s ASX/200 Index jumped 2.6%, while Japanamp;rsquo;s Nikkei 225 Index rose 1.4%.lt;br /gt;lt;br /gt;Preliminary data released earlier in the day showed that Japanamp;rsquo;s economy contracted by 0.3% in the second quarter, or 1.3% on an annualized basis.lt;br /gt;lt;br /gt;Analysts had expected Japanamp;rsquo;s economy to contract by 0.9% in the quarter, or 2.5% on an annualized basis.lt;br /gt;lt;br /gt;Meanwhile, government data released Friday showed that US retail sales rose by 0.5% in July, the biggest gain in four months.lt;br /gt;lt;br /gt;Shares in Japanese exporters with high exposure to the US performed strongly, amid an upbeat outlook for export earnings.lt;br /gt;lt;br /gt;Consumer electronics giant Sony saw shares rally 3.95%, plasma television maker Panasonic rose 1.5%, while automakers Honda and Toyota saw shares gain 3.4% and 2.9% respectively.amp;nbsp; lt;br /gt;lt;br /gt;In Hong Kong, shares in the beaten-up financial sector led gains, as investors sought for bargains following sharp declines last week. lt;br /gt;lt;br /gt;China Construction Bank saw shares jump 3.4%, shares in Bank of China Hong Kong rallied 5.1%, Chinaamp;rsquo;s largest lender Industrial and Commercial Bank of China rose 3.5%, while shares in insurance provider Ping An soared 8.6%. lt;br /gt;lt;br /gt;Exporters also posted healthy gains, with Li amp;amp; Fung, the worldamp;rsquo;s biggest supplier of toys to major US retailers, surging 5.7%, while shares in Esprit Holdings, the Hong Kong-based retailer that counts Europe as its largest market rose 5.4%.lt;br /gt;lt;br /gt;Elsewhere, Australiaamp;rsquo;s biggest construction company Leighton Holdings saw shares jump 8.25% in Sydney after reiterating that it expected to return to an annual profit in 2012. The company reported a AUD409 million loss for the fiscal year ending June 30 earlier in the day.amp;nbsp; lt;br /gt;lt;br /gt;The outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 1.2%, Franceamp;rsquo;s CAC 40 futures rose 1.1%, the FTSE 100 futures climbed 1%, while Germanys DAX futures indicated a strong gain of 1.5%.lt;br /gt;lt;br /gt;Later in the day, the US was to produce official data on manufacturing activity in New York State and a report on the balance of domestic and foreign investment in the USlt;br /gt;lt;br /gt;

Forexpros – Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar and Forex News.

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In Part 1 of this two-part series, I provided some tips for choosing a business credit card. In this Part 2 installment, I provide details on specific cards as evaluated by CreditCard.org, a non-profit organization that provides news and advice about credit cards. What follows are business cards CreditCard.org recommends. Note that promotions change on a regular basis. So be sure to check the details of the most recent offers. Note, also, that this is not a comprehensive list of business credit cards.

Credit ratings are based on the following scores:

• Excellent: 725+
• Good: 650 – 724
• Fair: 600 – 649
• Bad: 300 – 599

American Express requires an Excellent credit score for all cards. While it offers a wide range of features and benefits, American Express cards are not as widely accepted as MasterCard and Visa.

True Earnings Business Card – American Express with Costco Branding

Features: Cash back ranging from 1 percent for Costco purchases to 4 percent for gasoline charges. Annual fee: None.

The Business Platinum Card from American Express OPEN

Features: Up to $200 airline fee credit to cover incidentals with the airline of your choice. 20 percent travel bonus when redeeming with Membership Rewards Pay with Points. Complimentary airport club access, including American Airlines Admirals Club lounges. Concierge service to assist with your business needs from gift giving to dinner reservations. Business Platinum car rental program with complimentary enrollment in the Hertz #1 Gold Club, Avis Preferred, and Emerald club from National Car Rental. Includes Platinum Office Program, offering access to 1,000 Internet-equipped business lounges in 450 major cities worldwide. Enrollment in the Membership Rewards First program. No pre-set spending limit. Requires Excellent credit. Annual fee: $450.

SimplyCash Business Card from American Express OPEN

Features: 5 percent cash back on wireless services and office supply purchases. 3 percent cash back on automobile gasoline. 1 percent cash back on other purchases. No limit to the amount of cash you can earn back. Cash back on purchases is automatically credited to your statement each month. Save 3 percent to 10 percent automatically on business expenses from FedEx, Hertz, OfficeMax, and more with OPEN Savings. Variable interest rate starting at 13.24 percent. No balance transfer promotion. Requires Excellent credit. No introductory annual membership fee.

The Plum Card from American Express OPEN

Features: Pay in full within ten days, get a 1.5 percent discount or pay a minimum of 10 percent and take up to two months to pay off the balance, interest free. Includes a cash flow management tool. No balance transfer promotion. Requires Excellent credit. No introductory annual fee for the first year, $185 thereafter.

ATamp;T Universal Business Rewards Card

Features: Earn 3 ThankYou points for every dollar spent on purchases at certain office supply merchants, gas stations, and on professional services, and 1 ThankYou point for every dollar spent on other purchases. Earn 5 ThankYou points for every dollar spent on eligible ATamp;T products and services. 0 percent interest rate on purchases for 6 months. Additional cards for employees with credit limits you set. No balance transfer promotion. Variable interest rate currently at 16.99 percent. Requires Excellent credit. Annual fee: None.

Capital One Venture for Business

Features: Earn double miles on every purchase. Get 25,000 bonus miles if you spend $1,000 within the first 3 months. Receive 5,000 bonus miles by signing up for one or more employee cards. Use your rewards for travel, cash back, gift cards, and merchandise. Fly any airline, anytime, with no mileage expiration. No foreign transaction fees. Variable interest rate currently at 13.9 percent. Requires Excellent credit. First years annual fee is waived.

Capital One Business Platinum with Preferred No Hassle Miles

Features: 0 percent introductory interest rate on all purchases until March 2012. 3 miles per $1 spent in the category of choice where you spend most, and 1 mile; per dollar on all other purchases. Redeem miles for travel, cash, merchandise, and gift cards. Fly on any airline with no blackout dates or seat restrictions. No limit on miles and no expiration. Variable interest rate between 14.99 percent and 22.99 percent. Requires Excellent credit. Annual fee: None.

Capital One Business Platinum

Features: 0 percent introductory interest rate on all purchases until June 2012. Tools to help build business credit. $0 Fraud Liability Protection if your card is lost or stolen. Automatic credit line increase program. Online and mobile banking options for easier account management. Online quarterly and year-end summaries. Variable interest rate, currently 19.99 percent. Requires Fair credit. Annual fee: $39.

Ink Classic

Features: Earn 5x Points on the first $25,000 in annual expenditures on office supplies, wireless services, landline communication and cable services. Earn 2x Points on the first $25,000 in annual expenditures on fuel and lodging. Unlimited 1 point per dollar on all other purchases. Redeem points for travel, gift cards, merchandise; rewards never expire. 0 percent introductory interest rate for 6 months for purchases and balance transfers. Variable interest rate between 13.24 percent and 19.24 percent after six months. Requires excellent credit. Annual fee: None.

Ink Bold with Ultimate Rewards

Features: Pay balance in full card, no interest. Earn 25,000 bonus points after first purchase. No limit to the number of points you can earn and points never expire. Over 45,000 bonus points every year redeemable towards flights. Requires Excellent credit. No first year fee, $95 annual fee thereafter.

Ink Cash Business

Features: Earn up to $250 bonus cash back. 5 percent cash back on the first $25,000 spent annually on office supplies, cable services, and telecom services. 2 percent cash back on the first $25,000 spent annually on gas and dining. 1 percent cash back on all other purchases with no limit on the amount of cash back you can earn. Cash back rewards do not expire. 0 percent introductory interest rate for 6 months. 0 percent for six-month balance transfers. Variable interest rate between 13.24 percent and 19.24 percent after introductory rate expires. Requires Good credit. Annual fee: None.

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• financing, cash flow

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Imagine you’re about to take a trip, but a few days before you leave, you lose your credit card. What to do? You can’t wait for the bank to send you a new card in the mail. If you’re lucky, you might be able to pay a fee for expedited delivery. Or, if you’re a Freedom Credit Union member, you can just stop by their branch and pick up a new one on the spot no waiting, no fee.

The credit union has issued check and ATM cards since 2009, but expanded the service to include credit cards in April this year. Using a Datacard 150i, which costs approximately $13,000 per branch, Freedom will replace a member’s lost or stolen debit/credit card for free. Members only need to present proper ID to have a new card made.

For those opening new accounts especially new members the instant issue service helps get the relationship off to a smooth, efficient start. Someone leaving the branch with a card in hand can start using their new account immediately. But if they have to wait for their card in the mail, they are likely going to feel impatient and frustrated.

Reality Check: No one wants to “wait 5-10 business days” for anything anymore. People expect instant gratification. The world is now measured in milliseconds. A whole day now feels like a millennium.

A debit/credit card is a symbol of purchasing power. It is the consumer’s most frequent point of interaction with their bank account. Handing someone their card in person as Freedom has done some 11,000 times already has a tremendous positive psychological impact.

Reality Check: For all the benefits online and mobile banking solutions offer, instant issue cards is one convenience available only at physical branch locations. (Of course, who knows how long plastic credit cards will be around.)

DATACARD 150i

Free webinar on implementing a financial literacy strategy from Banzai!

Freedom rolled out the instant issue credit card service in three of its branches, but says it will have units at all six by the end of the year.

There are plans to promote the service with members as additional machines are added. In the meantime, cards will still be mailed out to some members. Any member who wants an expedited card can choose to pick it up at a branch.

“The Instant Issue machines save Freedom members time as well as money,” said Freedom spokesperson Dana Feeney. “Having a card expeditiously shipped from the manufacturer can cost up to $25.”

According to Freedom Credit Union, TD Bank and Wells Fargo (ne Wachovia), both competitors in their area, also offer instant issue cards.

Freedom Credit Union has over $490 million in assets and more than 57,000 Members, with branches in Pennsylvania.

This article copy 2011 by The Financial Brand and may not be reproduced.

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More stories about: Branches, Featured, credit cards, debit cards, Freedom, TD, Wachovia

Reach the student market with this free webinar for credit unions Connect with local teachers and students using , the award-winning online financial literacy program used in thousands of schools across all 50 states. Banzai has worked with more than 100 credit unions. No licensing fees, no ongoing commitment. Click here to view a free webinar!

Lenders to Etex Group (ETEVP), a Belgian
manufacturer of building products, are marketing 1.3 billion
euros ($1.9 billion) of loans to help fund its purchase of
gypsum assets from Lafarge SA. (LG)

The financing includes a five-year 550 million-euro
revolving credit, a three-year 300 million-euro term loan, and a
one-year 450 million-euro bridge loan due to be refinanced with
bonds, according to a person with direct knowledge of the deal.

The loans are being arranged by banks including Credit
Agricole CIB, BNP Paribas SA, ING Groep NV, KBC Bank NV, Lloyds
Banking Group Plc and Banco Santander SA, said the person, who
declined to be identified because the terms are private.

Etex is forging an alliance with Lafarge in Latin America
in an attempt to boost its profit from emerging markets as
demand for building products remains subdued in Europe. Gypsum-
based wallboard is increasing in popularity in the region
as an alternative material for walls and ceilings. Officials in
Etex’s finance and communications departments didn’t immediately
respond to calls seeking comment.

The transaction is valued at 1 billion euros, and Lafarge
will get cash proceeds of about 850 million euros from the sale
of the European and South American assets, the Paris-based
cement maker said when it entered exclusive negotiations with
Etex on July 14. It will retain a 20 percent stake in the
combined business.

To contact the reporter on this story:
Stephen Morris in London at
smorris39@bloomberg.net.

To contact the editor responsible for this story:
Faris Khan at
fkhan33@bloomberg.net.

A super committee made up of 12 members of Congress has been formed to drastically reduce the federal deficit, but economists are split on what impact they think it will ultimately have. NY1′s Erin Billups filed the following report.

Twelve members of Congress are now tasked with reducing the federal deficit by $1.5 trillion over the next decade on top of the $900 billion in cuts recently agreed to. It’s all part of the deal to raise the country’s debt ceiling.

“They have more or less cart blanche to do whatever they want to do,” said Ron Haskins of the Brookings Institute.

And it seems there’s little confidence on Capitol Hill that the Join Select Committee will do anything.

Its already a topic of national debate, a likely political football on the presidential campaign trail.

Experts at the Brookings Institute grappled with the idea during a forum this week and say history has few examples of successful “super committees.”

“Not surprisingly, these commissions find it difficult to overcome the politics that created them,” said Sarah Binder of the Brookings Institute.

There are differences written into the law that could set this super committee apart, preventing lawmakers from kicking the can further down the road.”

For one, it has legislative authority, requiring an up or down vote in Congress by December 23 and therefore preventing filibusters.

And most importantly, it has a failsafe or trigger called a “sequester.”

If committee members fail to cut at least $1.2 trillion by November 23, or Congress refuses vote on the plan, that amount will automatically be cut from the domestic and defense budgets.

“I think by and large Congress wants to avoid the triggers that they’ve pretty carefully constructed, that take a pretty hard bite out of defense,” said Binder.

Others hope that’s exactly what happens.

“If the super committee fails, taxpayers win. Why? Because we get this automatic spending cut called a sequester that would take that spending baseline and actually lower it a bit so government doesn’t grow as fast,” said Dan Mitchell of the Cato Institute.

In the end, some experts believe that while it’s unlikely the super committee will agree on the full $1.2 trillion in cuts, they will agree on something, which could at least temper the automatic cuts that would be triggered as a result.

They will begin meeting after Labor Day.

Fudge is an entrepreneur in the mining industry and last year was ranked 38th on Forbes list of the top 40 richest people in Australia.

His background is not dissimilar to that of Nathan Tinkler who set up the Patinack Farm racing and breeding operation after making his fortune in mining.

Pride says Fudge, who races Sienna Red under the Waratah Thoroughbred Syndicate banner, is also looking to make his mark in the industry.

He wants to breed horses to race which is quite unique, Pride said.

Hes setting up a great operation in the Southern Highlands and he isnt sparing any expense.

It will be a place where horses can spell and pre-train.

Why it can be difficult to determine the interest rate you can expect from a problem credit auto loan

Bad credit auto loans

One of the first things individuals with bad credit want to know is the interest rate they are going to be charged on no credit auto loans.

In fact, most of the questions we get asked haven’t really changed in the nearly two decades we’ve been involved in bad credit car sales here at Auto Credit Express.

In addition to answering questions, we also show applicants why a tote the note dealer won’t help their credit scores and we spell out the approved auto loans process so they can sidestep many of the problems that result in repossession.

We can’t, however, tell applicants what their interest rate will be.

Interest rates

For people with great or even good credit (great is a FICO score of 740 or more while good is between 680 and 739), lenders assign an interest rate based on their credit score. This is why comparing interest rates is easy if you have good credit.

Even individuals with a FICO score of 620 to 679 have a chance of getting an interest rate based on their credit score alone.

But when FICO scores fall below 620 to 640, most traditional lenders won’t consider your application. Instead, you’ll need to apply for bad credit auto loans.

Looking past credit scores

Lenders that offer approved auto loans with bad credit look past credit scores and, using special scoring methods, consider a number of other elements to determine if you qualify as well as the interest rate you’ll receive.

Ability

Can you afford a car payment? This is the first thing lenders look at. They look at how much you earn and what is left over after your bills are paid each month. A typical bad credit lender wants all of your debts, including a car payment, not to exceed 40% to 50% of your monthly income. The lower this debt-to-income (DTI) ratio is, the better you will score.

Lenders also prefer a monthly car payment under 15% to 20% of your total monthly income. The lower this payment-to-income (PTI) ratio is, the better you will score.

A large down payment also helps. Down payments reduce the loan to value (LTV) ratio which reduces the lender’s risk. The lower the LTV ratio of the loan, the better you will score.

Stability

Bad credit lenders also look for stability. Stability covers how long you’ve been employed at the same job or in the same field as well as how long you’ve lived at your current address.

Lenders look for one year with your current employer, and will score you higher for additional job tenure. With a shorter job time, more weight is given if you’ve remained in the same industry or have switched employers due to job experience.

Living at the same address or in the same geographical area for an extended time indicates that your financial situation has been stable. People who move around are considered “skip hazards”. If they have to repossess a vehicle, lenders want to know where they can find it. The longer you’ve been at your current residence, the better you will score. Because it’s more difficult to move if you own your home, homeowners will score higher than renters.

Willingness to pay

Lenders will also check your credit report to see how you’ve paid your past bills in the past – especially any auto loans. If there is some “slow pay”, they’ll check to see if it’s “situational” or “habitual” bad credit.

If slow payments are the result of one incident, such as a layoff or medical emergency, it’s called “situational” bad credit. If you’ve never paid anyone on time, this is “habitual” bad credit. Applicants with situational bad credit will score better than those with habitual bad credit, since situational applicants have exhibited good credit behavior in the past.

As we see it

Ability, stability and willingness to pay are all taken into account when determining interest rates and approved auto loans, so you can see why the answer to the interest rate question is not as simple as it seems.

That’s why Auto Credit Express helps individuals with bad credit find a dealer that can get them financed for no credit auto loans.

So if you are serious about establishing your car credit, you can begin now by filling out our online car loans bad credit application.

Tags: Bad Credit, bad credit auto loans, bad credit interest rates, interest rates

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ByZaneta Lowe -bio | email

COLUMBUS, GA (WTVM) – Are you the type to put away money fora rainy day, or are you the type to save nothing at all?

My husband and I have a budget and we try and stick to it, says Maggie Portillo.

Portillo represents the 58% of Americans who actually take the time to track spending against a budget, according to a recent survey from Bankrate.com. She and her husband also stash away a portion every month into savings. Its surprising how much you can save if you plan to save

Thats where Portillo is in the minority. The same survey found only 24% of Americans have a six months savings built up, the same percentage saved nothing at all.

If you wait until whats leftover at the end of the month and try to save that, nothings left over, nothing gets saved, says Bankrate.coms Greg McBride.

Experts say basic budgeting begins with setting goals, understanding what you hope to accomplish.

Consumer Credit Counselings Lerone Harper says he advises clients to establish what he coins a top nine. Your top three wants, then your top three short term goals and your top three long term goals and you just put them in a list and eventually, theyre going toadd purpose to your budget, says Harper.

Next, track your spending. We need to know in a given time span how much money is coming into the house.

Harper says if your spending habits and income dont balance, its time to make some adjustments.

Maybe more income, maybe looking to see what else is going tobe cut out, Harper adds.

Experts also say its important to remember the plan should be flexible, as your life changes, your budget should as well. Finally, have fun. Once youve paid the bills and stacked money away in savings, Harper says its time to incorporate some of those wants.

So, as we all worry about the countrys financial stability, its a strong reminder that getting back to the basics keeps us all accountable.

Holding your feet to the fire, tracking that spending and knowing where that moneys going is really the pathway toward greater savings, McBride says.

Here are a couple of online tools to assist with budgeting and money management:

• mint.com
• Budget Worksheets from mymoney.gov
• Dave Ramseys Budget Forms

Copyright WTVM. All rights reserved.

* Benchmark funding rates edge higher

* Dollar swap costs stabilise

* But credit risk measures reflect concerns over banks

By Kirsten Donovan

LONDON , Aug 26 (Reuters) – Benchmark borrowing costs for
euro zone banks pushed higher on Friday as lenders, particularly
of dollars, remained reluctant to provide any but the shortest
maturity funds on fears over borrowers exposure to euro zone
sovereign debt.

Implementation risk over a second bailout package for Greece
has sent Greek bond yields soaring again. Athens warned it may
opt out of a crucial debt swap. .

Although some risk indicators are showing signs of
stabilising well below levels seen during the 2008 financial
crisis after widening sharply in recent weeks, the cost of
insuring against bank defaults — as indicated by the iTraxx
senior financial CDS index — has soared high above
levels seen in early 2009.

Stress tests revealed banks significant exposures to
sovereign risk, said BNP Paribas rate strategist Patrick Jacq.

As this risk has increased sharply, credit assessment on
banks has worsened significantly.

That, Jacq said, is a main cause of the widening in the
spread of three-month Libor rates over overnight indexed swaps
– the Libor/OIS spread.

In Europe, that spread has risen five-fold to 60 basis
points since early July. But that is well below the near 200 bps
seen at the height of the financial crisis and further widening
is likely to be limited with the European Central Bank still
providing unlimited liquidity to banks.

The dollar equivalent has doubled to around 27 basis points.

Unless there is a significant decrease in banks CDS –
ie reduced concerns about sovereign risk exposure driven by
signs of improvement in peripherals — the potential for OIS/BOR
spreads to tighten is small, Jacq said.

RBS strategist Simon Peck also highlighted increasing use of
the ECBs deposit facility — its highest since February after
the central bank handed out 6-month funding earlier this month
– and a decline in Eonia overnight trading volumes.

It is clear that reliance is growing on the ECB as a
financial transmission channel of the interbank market with
banks becoming more reluctant to lend to each other.

Benchmark three-month euro Libor rates edged up
to 1.48125 percent, with equivalent dollar rates up a third of a
basis point at 0.32278 percent.

The three-month euro-dollar cross currency basis swap
, which measures the premium banks have to pay to
swap euros into dollars, was steady around minus 83 basis
points. It was under minus 20 basis points in April.

The widening partly reflects the scaling back of lending by
US money market funds to European banks .

And as liquidity in the short-term funding markets has
declined, many banks have instead sought to increase deposits
and go to the foreign exchange market to swap euros for dollars.

US dollar wholesale funding for European banks remains
problematic, said Commerzbank strategist Benjamin Schroeder.

The very elevated cross currency basis indicates that banks
are resorting to other avenues.

However, no banks resorted to the ECBs dollar swap line
with the Federal Reserve this week, easing nerves after one bank
took $500 million euros the previous week.

The funding is still considered expensive relative to market
rates.

(Reporting by Kirsten Donovan; Editing by Ruth Pitchford)

By: CNNs Rebecca Stewart

(CNN) – Threats of a national default during the debt ceiling debate amounted to lunacy. That is, according to former Utah Gov. Jon Huntsman.

He accused those who spoke of risking a possible default to force the governments hand in facing its rising debt-including some of his Republican opponents-of behaving like lunatics during an interview on CNNs Piers Morgan Tonight scheduled to air Monday.