ADP Considering Changes to Money-Fund Investing

Sep 2nd, 2014 Posted in Cash Management | No Comments »

Jan Siegmund, the finance chief of Automatic Data Processing Inc., is already rethinking his cash-management strategies, after last week’s vote from the Securities and Exchange Commission on money market funds. “We could change where we put our money,” Mr. Siegmund said, but declined to be specific. “We’re mulling it over.”

Hurdles obstruct Argentina’s path to restructuring debt

Sep 2nd, 2014 Posted in Debt Restructuring | No Comments »

BUENOS AIRES (Reuters) – Argentinas proposed debt restructuring plan, designed to sidestep US court rulings that led to the countrys default in July, faces massive legal and logistical hurdles that mean it may never get off the ground, lawyers said.

Left-leaning President Cristina Fernandez unveiled on Tuesday measures that would see the South American country make payments on debts held under foreign legislation in Argentina and push bondholders to bring their notes under Argentine law.

The US judge at the center of its debt battle with US investment funds, who spurned restructured debt after the countrys record 2002 default and are suing Argentine for face value, said...

Education loans double in 2013-14, home loans drop

Sep 1st, 2014 Posted in Education Loans | Comments Off

AHMEDABAD: As more and more students continue to opt for higher studies, the request for education loans grew by almost double in 2013-14 compared to previous year.

Banks have disbursed education loans to 20,115 students to the tune of Rs 372.60 crores in 2013-14 by March 2014 compared to Rs 241.23 crore disbursed to 10,887 beneficiaries in 2012-13. The outstanding under education loans reached Rs1438.59 crore in 50,656 accounts as of March, 2014.

On the contrary, due to slowdown in real estate and higher interest rates, demand for home loans saw a drop of 26% as less people applied for them. Home loans worth Rs 7028.95 crore were granted to 81,556 beneficiaries during the year...

Interest Subsidy on Education Loans

Sep 1st, 2014 Posted in Education Loans | Comments Off

New Delhi: The Government is implementing a Central Sector Scheme, namely, Central Sector Interest Subsidy Scheme (CSIS) for providing interest subsidy during the period of moratorium on educational loans which is study period plus one year or up to six months after getting a job, whichever is earlier, to students belonging to economically weaker sections with an annual gross parental/family income upper limit of Rs. 4.5 lakh per year (from all sources) for undergoing professional/technical courses in higher educational institutions within the country.

Breaking free from salary dependency

Aug 31st, 2014 Posted in Education Loans | Comments Off

NAIROBI, KENYA: Some salaried employees often go through what can be described as a tragic cycle of saving, borrowing and repaying in a set number of years. Considering that many people are employed in their mid-20s, and that each cycle of saving, borrowing and repaying may take eight years, one can only make use of a maximum of four such cyclical loans in his or her working lifetime.

Often, the first loan is used to purchase a car or land, the second to build a house or start an income generating project; the third for tidying up all loose ends in ongoing projects that often includes unfinished houses! Throw in school fees and by the time of the second and third...

Stocks Are Telling Us Something Forex Traders Haven’t Yet Picked Up

Aug 31st, 2014 Posted in Get Home Loans | Comments Off

Stocks Are Telling Us Something Forex Traders Havent Yet Picked Up

Okay Ive probably been boring people with my take on market instability lately but last night was just another snowflake on the mountain. No avalanche yet but things arent looking great in global stocks even if they arent exactly crashing.

Its Europe which is providing the bulk of the warning signs and the direct imact on you – my readers here of this note – is that it reinforces the need for vigilance when it comes to position sizing and stops. I believe that volatility transitions because because traders and investors get lulled intoa sense of security by low volatility which leads to bigger positions...

3 Money Lessons for Your Kids Before They Go to College

Aug 31st, 2014 Posted in Education Loans | Comments Off

University campuses are bustling once again as students arrive for the fall semester, some moving into their first dorm room or signing up for their first college campuses. As parents send off their children and talk to them during their first days as college students, there are all sorts of things they want to say, but among the traditional exchanges of I love you, Be careful and Dont forget to call, there needs to be a conversation or two about money.

You may not want to kiss your kid goodbye with a lecture on finances, but making poor money decisions can follow your child for years, so its worth taking some time to go over potential consequences. If nothing else, here are three conversations...

German bicycle maker Mifa agrees debt restructuring

Aug 30th, 2014 Posted in Debt Restructuring | Comments Off

FRANKFURT Aug 22 (Reuters) – German bicycle manufacturer
Mitteldeutsche Fahrradwerke (Mifa) has struck a
restructuring deal that includes a debt-for-equity swap, a
capital increase, and a cash life-line from Indias Hero Cycles
(IPO-HERO.BO).

Mifa ran into financial trouble earlier this year, saying in
March that it posted a 15 million euro ($19.9 million) net loss
for 2013 because the introduction of a new accounting system had
caused it to understate the cost of materials in its
inventories.

Mifa is now asking holders of a bond due in 2018
to agree to exchange part of the debt they hold
as well as interest accrued for equity. It also...

Centrix Bank, with locations in Nashua and Milford, acquired by Massachusetts …

Aug 30th, 2014 Posted in Cash Management | Comments Off

NASHUA – Customers of Centrix Bank Trust can expect to see a new name on the door and an expanded set of financial products this fall as the company merges with Eastern Bank Corp.

Centrix, a commercial bank headquartered in Bedford with seven branches around the state, is being acquired in a cash transaction valued at approximately $134 million.

Executives from the two companies say the deal will bring few changes to the existing services Centrix customers receive, while also introducing a new set of insurance and wealth management products with the backing of one of the country’s oldest mutual banks.

“We firmly believe this is going to be a very positive...

VSAC could lose federal student loans contract

Aug 29th, 2014 Posted in Education Loans | Comments Off

WINOOSKI, Vt. -

Low-income students are getting a helping hand from the Vermont Student Assistance Corporation. But VSACs own future is in question as the federal government begins to cut contracts.

Its a chance for students to get ahead. Dual-enrollment allows high schoolers to take college courses before graduation. Now, VSAC is providing financial assistance for low-income students interested in participating. VSAC has received $50,000 from the Legislature to provide up to $150 for each eligible student.

Weve already heard from 300 students who are interested in seeing if theyre eligible, said Scott Giles, the president of VSAC.

The stipend will cover costs...