Three Puerto Rico House Members Call for Debt Restructuring

Mar 29th, 2015 Posted in Debt Restructuring | No Comments »

Three members of the Puerto Rico House of Representatives have proposed legislation to open the door to restructuring the commonwealths more than $70 billion of debt.

In a press release Sunday, Representatives Manuel Natal Albelo, Luis Vega Ramos, and Luis Raúl Torres Cruz called for a referendum on a constitutional amendment allowing for the restructuring of the debt of the commonwealth and its public corporations. The three are members of the Popular Democratic Party, along with Gov. Alejandro García Padilla.

Discussions of debt restructuring are becoming increasingly common in Puerto Rico, which has had a weak economy for several years and an unbalanced budget for decades....

Economics professors speak out against CAUT report

Mar 28th, 2015 Posted in Economic | Comments Off

Weeks after the Canadian Association of University Teachers renewed its call for the effective dismissal of the head of the department of economics, many faculty members are standing firmly behind him.

Two weeks ago, the Manitoban reported that David Robinson, executive director of the Canadian Association of University Teachers (CAUT), was still pressing the University of Manitoba to implement the recommendations of their report on the department of economics, released in January.

Among their recommendations was the immediate appointment of a new acting head for the department to replace current head Pinaki Bose, an economist brought to the U of M in 2010 from the University...

Favourite book at Bank of England is Economics by Alain Anderton

Mar 28th, 2015 Posted in Economic | Comments Off

Its not Economics for Dummies, but its not that far off.

The Bank of England is widely believed to be home to many of the sharpest mathematical and financial minds in the country.

And central to their work is the impressive library where millions of pages of complex theory, analysis and research gathered over the three hundred-odd years of the Banks existence are kept.

So it may come as a surprise to learn that the most popular book in the Banks library is not a work by Keynes, Smith or Hayek but a basic economics textbook aimed at AS and A-level students.

With its easy-to-use structure and full colour illustrations, Alain Andertons Economics has long-been...

American Eagle Energy reportedly starts debt restructuring talks (AMZG)

Mar 27th, 2015 Posted in Debt Restructuring | Comments Off
  • American Eagle Energy (NYSEMKT:AMZG), which missed the first payment on $175M of bonds it sold last year, has asked creditors to enter confidential debt restructuring talks, and may have discussed a potential bankruptcy filing as part of a restructuring plan, Bloomberg reports.
  • AMZG, which hired restructuring advisers when it missed the $9.8M interest payment earlier this month, is among energy companies now struggling to service high-yield, high-risk debt taken on in recent years during the US shale boom.
  • AMZGs 11% notes due September 2019 have lost more than two-thirds of their value since they were issued, and last traded March 18 at $0.32 on the dollar.

Don’t Settle for 1% Cash Back on Credit Cards

Mar 26th, 2015 Posted in Credit Card Comparison | Comments Off

The credit-card rewards wars are heating up. A growing number of credit-card issuers are rolling out rewards programs that promise to give card users more cash back for their purchases.

The latest addition is Citizens Financial ‘s newest credit card, announced on Wednesday, that offers cardholders 1.5% back on every purchase. The Cash Back Plus World MasterCard doesn’t cap the dollar amount that borrowers can get through this rewards program, and it allows them to get up to 1.8% cash back in total if they use the card at least once a month and arrange to have the rewards automatically deposited into a Citizens checking, savings or money-market account.

With cash-back...

TD Economics: Consumers in the Driver’s Seat

Mar 25th, 2015 Posted in Economic | Comments Off

CHERRY HILL, NJ, March 24, 2015 /PRNewswire/ — Consumers are set to take the lead in pushing forward American economic growth, according to a new report by TD Economics (, an affiliate of TD Bank, Americas Most Convenient Bank.

With job growth at its highest rate in 15 years and gasoline prices at the lowest in six years, conditions couldnt be better for household spending, says TD Banks Chief Economist, Craig Alexander. Increases in real purchasing power give households the ability to increase spending while still meeting their saving goals.

From 2.4% in 2014, TD Economics projects economic growth of 3.0% in 2015 and 2.8% in 2016. The unemployment...

Annual event helps college students find financial aid

Mar 25th, 2015 Posted in Education Loans | Comments Off

I dont know yet which college I will go to, so this is great that I can send this form to others outside of Northwest Indiana, Jennifer Gearman of Hammond said. This means less paperwork for me. Im grateful for this session today.

Like many other colleges in Indiana, Purdue Calumet each year offers College Goal Sunday, which began 23 years ago in Indiana. The program has since spread across the nation.

This year, Financial Aid Awareness Week was proclaimed by Indiana Gov. Mike Pence as an announcement of the importance of post-secondary education, and the role financial aid can play in helping students achieve that education.

Purdue Calumet student Derrick Cotton uses...

Westpac joins the Air New Zealand Airpoints programme

Mar 25th, 2015 Posted in Credit Card Comparison | Comments Off

Air New Zealand has announced Westpac New Zealand will join the airline’s Airpoints programme as its newest financial services partner providing members with a suite of new Airpoints earning products.

The new agreement with Westpac takes effect from 1 May 2015.

After a long and mutually beneficial arrangement that provided Airpoints earning on BNZ GlobalPlus products, Air New Zealand and BNZ have decided not to renew the agreement between them.

The current agreement will cease at midnight on 30 April 2015, from which point BNZ’s GlobalPlus products will no longer earn Air New Zealand related benefits, including Airpoints Dollars and Status Points.


World Socialist Web Site

Mar 24th, 2015 Posted in Education Loans | Comments Off

Obama administration arranges deal

Collection agency buys Corinthian Colleges chain

Nancy Hanover

11 March 2015

In the first transaction of its kind, the bulk of the for-profit career college chain Corinthian Colleges, Inc. (CCI) was purchased last month by a student loan guarantor/collection agency.

The Obama administration’s Department of Education (DOE) engineered the agreement in order to maintain the flow of student loan repayments by Corinthian borrowers to the federal government.

Over the last year, CCI had been kept in operation by the administration while it found a buyer. In July, the government provided...

Obama announces changes for student loan repayment

Mar 23rd, 2015 Posted in Education Loans | Comments Off

ATLANTA (Reuters) – President Barack Obama told students at Georgia Tech on Tuesday he wants to make the process of repaying student loans easier to understand and manage.

Obama signed a “student aid bill of rights” and spelled out an assortment of policy tweaks and projects to try to make it easier for people with student loans to pay back their debt.

“Were going to require that the businesses that service your loans provide clear information about how much you owe, what your options are for repaying it, and if youre falling behind, help you get back in good standing with reasonable fees on a reasonable timeline,” Obama told a raucous crowd of more...