May 12 (Forex Pros) – The U.S. dollar was mixed against other major currencies on Wednesday as fears over sovereign debt in the euro zone ebbed, and in the wake of worse-than-expected data on the U.S. trade deficit.
The greenback was down against the euro, with EUR/USD gaining 0.13% to hit 1.2677 after Spain’s prime minister pledged to cut state employees’ wages and slash investment spending in order to combat his country’s budget deficit.
Also Wednesday, a Commerce Department report showed that U.S. trade shortfall increased 2.5% to USD 40.4 billion from February.
The dollar also slipped versus the Swiss franc and loonie, with USD/CHF shedding 0.33% to hit 1.1081 and USD/CAD dropping 0.52% to hit 1.0165.
But the greenback strengthened against the yen and sterling, with USD/JPY rising 0.45% to reach 93.07 and GBP/USD sliding 0.69% to hit 1.4852. Cable fell earlier in the day after official data showed that the number of people unemployed in Britain rose by 53,000 to 2.51 million during the three months to March.
The greenback was also up against its Australian and New Zealand counterparts: AUD/USD slid 0.06% to hit 0.8947, and NZD/USD slipped 0.15% to reach 0.7154.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.04%.
Earlier in the day, official data showed that Germany’s economy, the euro zone’s largest, unexpectedly expanded in the first three months of the year, spurred by company investment and exports.
Thursday, May 13, 2010
Wednesday, May 12, 2010
FOREX – Euro Slips vs Dollar as Growth Worries Weigh
FOREX – Euro Slips vs Dollar as Growth Worries Weigh
NEW YORK, May 12 (Reuters) – The euro dropped against the U.S. dollar on Wednesday, erasing early gains as worries about euro zone growth offset news of more spending cuts by Spain and a successful bond sale by Portugal.
NEW YORK, May 12 (Reuters) – The euro dropped against the U.S. dollar on Wednesday, erasing early gains as worries about euro zone growth offset news of more spending cuts by Spain and a successful bond sale by Portugal.
Tuesday, April 6, 2010
Housing bubble? February home sales show signs of recovery
By Steven Tarlow, your February home sales news source
February home sales are up, but remember it could just be a reflection of a new housing bubble. (Photo: ThinkStock)
Plenty of Real Estate experts have gone on record that a new housing bubble is forming, but others view increased February home sales numbers for the U.S. as a positive sign that the market is surging again. According to the National Association of Realtors, home sales in February 2010 rose 8.2 percent. Analysts had expected sales to continue to flat line, as credit for too many today is limited to the payday loan. This was in spite of the tax credit for home buyers. The tax credit was among the driving forces for sales increases in fall 2009, but the New York Times says that it has been a lesser force this spring.
Do February home sales equal a second surge?
National Association of Realtors Chief Economist Lawrence Yun says it is possible. A second Real Estate market surge would go a long way toward stabilizing home prices, placing that market very much on the same track as U.S. employment, where the service sector has been shown to be experiencing resurgence, even if it still has some distance to go before it reaches the break even point. The Institute for Supply Management also indicates that non-manufacturing jobs and exports are on the rise. Yet this does not take into account the perpetually “underemployed,” who have difficulty making ends meet and rely upon occasional payday loans.
February home sales: Good news for dark times
Let’s be clear about this: the increase in February home sales is all relative, for the U.S. Real Estate market is still in a deep rut. Foreclosures are still on the rise. Yet the February home sales report is a glimmer of hope. Areas of the country that experienced bad weather even showed an uptick; according to the Times, the Northeast and South – areas hard-hit by snow this winter – showed a nine percent increase in sales.
February home sales are up, but remember it could just be a reflection of a new housing bubble. (Photo: ThinkStock)
Plenty of Real Estate experts have gone on record that a new housing bubble is forming, but others view increased February home sales numbers for the U.S. as a positive sign that the market is surging again. According to the National Association of Realtors, home sales in February 2010 rose 8.2 percent. Analysts had expected sales to continue to flat line, as credit for too many today is limited to the payday loan. This was in spite of the tax credit for home buyers. The tax credit was among the driving forces for sales increases in fall 2009, but the New York Times says that it has been a lesser force this spring.
Do February home sales equal a second surge?
National Association of Realtors Chief Economist Lawrence Yun says it is possible. A second Real Estate market surge would go a long way toward stabilizing home prices, placing that market very much on the same track as U.S. employment, where the service sector has been shown to be experiencing resurgence, even if it still has some distance to go before it reaches the break even point. The Institute for Supply Management also indicates that non-manufacturing jobs and exports are on the rise. Yet this does not take into account the perpetually “underemployed,” who have difficulty making ends meet and rely upon occasional payday loans.
February home sales: Good news for dark times
Let’s be clear about this: the increase in February home sales is all relative, for the U.S. Real Estate market is still in a deep rut. Foreclosures are still on the rise. Yet the February home sales report is a glimmer of hope. Areas of the country that experienced bad weather even showed an uptick; according to the Times, the Northeast and South – areas hard-hit by snow this winter – showed a nine percent increase in sales.
Monday, April 5, 2010
MoneyGram | Sending and receiving money for 70 years
MoneyGram | Sending and receiving money for 70 years
MoneyGram International, Inc., the parent company for MoneyGram (aka Money Gram) is what is known as a “global payment services company.” Money transfers, money orders, bill payment and prepaid Visa debit cards are available in MoneyGram’s vast array of parent and agent stores across the globe or via its online portal, www.moneygram.com. Since 1940, MoneyGram has worked hard to become a highly efficient, economical and secure (See http://www.moneygram.com/MGIUS/CustomerService/ConsumerProtection
/index.htm) means for consumers and businesses to send and receive money. The small money order company known as Travelers Express that opened in Minneapolis, Minn., has grown by leaps and bounds to become a payment services leader.
MoneyGram doesn’t offer payday loans, but it is recognized worldwide
Through it all, MoneyGram’s corporate values of “respect, courage, passion, integrity and teamwork” have guided everything it does. A good business cannot be built without good people, and so MoneyGram has gone forward by “providing a challenging, friendly and rewarding environment” for its employees. Considering the company’s longstanding tradition of success in the global payment services market, it would appear that employees have risen to the challenge. Part of that challenge is MoneyGram’s initiatives that give back to the community (See www.moneygram.com/MGICorp/CommunityGiving/index.htm).
Loyal customers are rewarded for using MoneyGram
Customers want to be made to feel special at any business, which is why MoneyGram has programs like MoneyGram Rewards. The company will automatically keep track of the number of Eligible Money Transfers (See www.moneygram.com/MGIRewards/ProgramRules/index.htm) a customer makes via a MoneyGram Rewards card. It’s free, much like a standard grocery store savings card. The more times a customer sends money, the lower the cost for sending money becomes. Special promotions also become available to MoneyGram Rewards customers over time, a “Thank You” from MoneyGram to the customer for their loyalty.
How much do customers save with MoneyGram Rewards?
For three to five eligible money transfers per year: Save 5 percent off transfer fees!
For six or more eligible money transfers per year: Save 10 percent off transfer fees!
Other ways MoneyGram Rewards benefit MoneyGram customers
Speed – No forms to fill out, as identifying information is contained on a customer’s MoneyGram Rewards account
Control – Receive Notice instantly notifies customers when their sent money is picked up
Online metrics: How www.MoneyGram.com fares
Compete.com tells a story about MoneyGram’s online portal – www.moneygram.com – that mirrors its longstanding tradition of success. According to February 2010 numbers, www.moneygram.com received 217,393 visitors, an 8.22 percent increase over the previous month. Overall, 349,980 visitors came to the Web site in February, which actually reflects a 9.57 percent drop. That kind of fluctuation appears normal for financial service companies, however, based upon recorded numbers for the past 12 months.
In terms of referral share, Google.com sent the most traffic to www.moneygram.com in February (17.43 percent), while Yahoo.com (10.31 percent) and Emoneygram.com (9.89 percent) came in for show and place. Search share indicates that 33.87 percent of www.moneygram.com visitors used “moneygram” in their favorite search engine, while “money gram” (12.07 percent) and “moneygram locations” (6.73 percent were also significant.
When you go with MoneyGram, you go with a payment services leader
When friends or loved ones need a loan and live on the other side of the country – or in another country – MoneyGram is an excellent choice. Low cost, speed, efficiency and security have kept the business strong for 70 years.
MoneyGram International, Inc., the parent company for MoneyGram (aka Money Gram) is what is known as a “global payment services company.” Money transfers, money orders, bill payment and prepaid Visa debit cards are available in MoneyGram’s vast array of parent and agent stores across the globe or via its online portal, www.moneygram.com. Since 1940, MoneyGram has worked hard to become a highly efficient, economical and secure (See http://www.moneygram.com/MGIUS/CustomerService/ConsumerProtection
/index.htm) means for consumers and businesses to send and receive money. The small money order company known as Travelers Express that opened in Minneapolis, Minn., has grown by leaps and bounds to become a payment services leader.
MoneyGram doesn’t offer payday loans, but it is recognized worldwide
Through it all, MoneyGram’s corporate values of “respect, courage, passion, integrity and teamwork” have guided everything it does. A good business cannot be built without good people, and so MoneyGram has gone forward by “providing a challenging, friendly and rewarding environment” for its employees. Considering the company’s longstanding tradition of success in the global payment services market, it would appear that employees have risen to the challenge. Part of that challenge is MoneyGram’s initiatives that give back to the community (See www.moneygram.com/MGICorp/CommunityGiving/index.htm).
Loyal customers are rewarded for using MoneyGram
Customers want to be made to feel special at any business, which is why MoneyGram has programs like MoneyGram Rewards. The company will automatically keep track of the number of Eligible Money Transfers (See www.moneygram.com/MGIRewards/ProgramRules/index.htm) a customer makes via a MoneyGram Rewards card. It’s free, much like a standard grocery store savings card. The more times a customer sends money, the lower the cost for sending money becomes. Special promotions also become available to MoneyGram Rewards customers over time, a “Thank You” from MoneyGram to the customer for their loyalty.
How much do customers save with MoneyGram Rewards?
For three to five eligible money transfers per year: Save 5 percent off transfer fees!
For six or more eligible money transfers per year: Save 10 percent off transfer fees!
Other ways MoneyGram Rewards benefit MoneyGram customers
Speed – No forms to fill out, as identifying information is contained on a customer’s MoneyGram Rewards account
Control – Receive Notice instantly notifies customers when their sent money is picked up
Online metrics: How www.MoneyGram.com fares
Compete.com tells a story about MoneyGram’s online portal – www.moneygram.com – that mirrors its longstanding tradition of success. According to February 2010 numbers, www.moneygram.com received 217,393 visitors, an 8.22 percent increase over the previous month. Overall, 349,980 visitors came to the Web site in February, which actually reflects a 9.57 percent drop. That kind of fluctuation appears normal for financial service companies, however, based upon recorded numbers for the past 12 months.
In terms of referral share, Google.com sent the most traffic to www.moneygram.com in February (17.43 percent), while Yahoo.com (10.31 percent) and Emoneygram.com (9.89 percent) came in for show and place. Search share indicates that 33.87 percent of www.moneygram.com visitors used “moneygram” in their favorite search engine, while “money gram” (12.07 percent) and “moneygram locations” (6.73 percent were also significant.
When you go with MoneyGram, you go with a payment services leader
When friends or loved ones need a loan and live on the other side of the country – or in another country – MoneyGram is an excellent choice. Low cost, speed, efficiency and security have kept the business strong for 70 years.
Monday, March 22, 2010
The futility of active management - Investment News
The futility of active management - Investment News:
"From 1994 through 2008, the average large-cap mutual fund that was in existence for the full 15-year period (some 400 funds) posted an annualized return of 5.61%, compared with 6.46% for the S&P 500.
And because some people claim that active managers are more valuable under the circumstances of a bear market than when the markets are trending up, Standard & Poor's looked at the percentage of mutual funds that failed to outperform their benchmarks between 2004 and 2008 during the last bear market: 66.2% of all domestic funds, 71.9% of all large-cap funds, 79.1% of all mid-cap funds and 85.5% of all small-cap funds."
"From 1994 through 2008, the average large-cap mutual fund that was in existence for the full 15-year period (some 400 funds) posted an annualized return of 5.61%, compared with 6.46% for the S&P 500.
And because some people claim that active managers are more valuable under the circumstances of a bear market than when the markets are trending up, Standard & Poor's looked at the percentage of mutual funds that failed to outperform their benchmarks between 2004 and 2008 during the last bear market: 66.2% of all domestic funds, 71.9% of all large-cap funds, 79.1% of all mid-cap funds and 85.5% of all small-cap funds."
Thursday, February 25, 2010
Risky business | Penn State News | Business - Centre Daily Times
Risky business | Penn State News | Business - Centre Daily Times:
"The Nittany Lion Fund, a $4.5 million mutual fund managed by Penn State students and advised by finance professor J. Randall Woolridge, teaches students the importance of risk management, ethics and money management in a real-world environment.
Smeal Dean Jim Thomas said the college also plans to add a major in risk management. The addition will be submitted to the Faculty Senate for approval in the near future."
"The Nittany Lion Fund, a $4.5 million mutual fund managed by Penn State students and advised by finance professor J. Randall Woolridge, teaches students the importance of risk management, ethics and money management in a real-world environment.
Smeal Dean Jim Thomas said the college also plans to add a major in risk management. The addition will be submitted to the Faculty Senate for approval in the near future."
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