Bond investors are driving down the
price of debt issued by retailers as they report comparable-
store sales for the holiday season that are failing to live up
to a record Thanksgiving weekend.
The cost of protecting bonds of Gap Inc. (GPS) from default
approached a record last week and contracts on JC Penney Co.
had the biggest two-day surge in 14 months. Merchandiser
debentures have lost 0.4 percent this month with Family Dollar
Stores Inc. the only one of the top 50 borrowers in Bank of
America Merrill Lynch’s US retailer index showing positive
returns for January. Investment-grade corporate bonds overall
are little...
LONDON, ENGLAND, Jan 24, 2012 (MARKETWIRE via COMTEX) –
Building on a growing online readership, World Finance has unveiled
a redesign to the magazine’s website, at
www.worldfinance.com .
Utilising the creative talents of World News Media’s digital arm
(found at
www.wnmedia.com ), the new website contains many new
features, and presents a user-friendly interface to allow
straightforward navigation of one of the most widely-recognised and
respected financial publications available.
Offering industry and expert comment pieces, market reports, and a
vast collection of insights across a variety of economies,...
PRAGUE Jan 25 (Reuters) – The number of mortgages
provided by Czech banks rose by 40 percent last year from 2010,
data showed on Wednesday, confounding fears that credit in
emerging Europe would dry up due to the crisis in the
neighbouring euro zone.
Banks lent more than 119 million crowns($6.09 million) in
71,088 individual loans, the data from the Regional Development
Ministry showed, as interest rates charged on mortgages
gradually declined through the year.
Low official interest rates in the central European country,
coupled with strong competition in the sector dominated by
well-capitalised banks, has kept borrowing...
According to the Mortgage Bankers Associations Weekly Mortgage Applications Survey for the week ending January 20, mortgage applications decreased 5.0 percent from one week earlier. The results include an adjustment to account for the Martin Luther King holiday.
The Market Composite Index, a measure of mortgage loan application volume, decreased 5.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 13.8 percent compared with the previous week. The Refinance Index decreased 5.2 percent from the previous week. The seasonally adjusted Purchase Index decreased 5.4 percent from one week earlier. The unadjusted Purchase Index decreased...
We have implemented very high academic standards that are internationally competitive
– Michael Block
The co-founders of BASIS Schools, Michael and Olga Block, aimed to offer the type of education students receive in the top performing education systems around the world, the type of education that would help American students compete in the global economy.
Ten years after BASIS Schools opened its first campus in Tucson, Arizona, the school topped the national rankings, earning the #1 spot on Newsweeks list of Americas Best High Schools, and was named a gold medal school by US News World Report. In addition...
If a bickering Congress cant agree to extend the payroll tax cut and unemployment insurance, US economic growth could slow by almost a full percentage point next year and send stocks down sharply, analysts say.
Citing the states ongoing financial problems, Moodys Investor Service on Friday downgraded Illinoiss credit rating to the lowest of any state in the country.
According to the Associated Press, Moodys blamed the low rating of A2 on weak management practices and the most recent legislative session which took no steps to implement lasting solutions on issues such as an increasingly severe pension funding shortfall.
Further detailing the downgrade, Moodys said Illinoiss chronic use of payment deferrals to manage operating fund cash presented a major challenge to its financial wellbeing.
It remains to be seen whether the state has the political willingness to impose durable...
The German government managed to sell four billion euros worth of bonds with a negative yield Monday, meaning investors were willing to pay for an asset guaranteed to lose money.
The average yield for six-month German bonds sold by the European Central Bank on Monday was -0.0122 per cent. That means when the bonds come due on July 11, 2012, an investor is guaranteed to get back less than the original sum invested.
Its more about whats happening elsewhere than whats happening in Germany, but its certainly a pretty telling development, said Ian Nakamoto, research director at MacDougall, MacDougall amp; MacTier in Toronto.
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