Category Archives: Finance News

Groupon Sees 500 Percent Growth in Holiday Sales

Savings Accounts and Money Market Rates provided by 5 December 2011 A few weeks after its IPO, Groupon has seen some success as a public company, according to Reuters.

Investors have struggled substantially to determine whether they made a good choice putting their money into the young daily deals company, particularly after a quick decline similar to many of the other technology companies going public this year.

However, the company has not been all bad news, with chief executive officer Andrew Mason announcing the company had sold 650,000 holiday deals over the Black Friday weekend. that represents a 500 percent increase and potentially double the sales of similar deals by rival LivingSocial. Read the full post

Tips for Those Who Want to Get into Forex Trading

There are many professional companies out there who trade in foreign currency. You may have heard of Alpari Forex Trading for example, but the good news is that you do not have to be part of a large company to get involved in Forex trading. There are many individuals interested in this type of currency trading and if you want to get started, then you may be interested in a few tips.

Be realistic when you enter the Forex market because it is unlikely that you will have overnight success. Don’t be tempted to use robots because they do not work and there is no guarantee that you are going to have success no matter how much books you read, how many video tutorials you watch or how much trading software you have. Y

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NAB Survey Says Moderate Improvements In Business Conditions

According to the results of a new survey, the twin cuts in interest rates by the Australian central bank has resulted in improved business sentiment.

The results of the National Australia Bank Business Survey suggest that business conditions improved in February, posting again of two index points following the previous two point gain which occurred in January.Confidence expressed by business rose by one point, and now stands at positive four points.

“Labour market conditions remain soft and the overall outlook for near-term activity remains moderate,” NAB said in a statement.

Despite the strengthening of business conditions last month, some sectors of the economy continue to struggle.

“Profitability deteriorated in the month, while employment and trading conditions were unchanged,” the NAB said.

According to the survey, heavy declines in conditions felt by the utilities, transport, construction and wholesale sectors were offset by gains felt in manufacturing mining, recreation and personal services.

Modest gains in business conditions were felt in Queensland and Victoria, whilst sharp falls were felt in Tasmania and South Australia.

Economists at NAB said they were surprised by positive US economic data, which indicates a modest recovery is underway, however globally the economic story is quite different.

“The euro zone appears to have entered recession, while emerging economies continue to show signs of slowing,” the statement said.

“We continue to see global growth softening to around three per cent in 2012, a below-trend outcome highly dependent on the emerging economies as the OECD (Organisation of Economic Co-operation and Development) faces a long period of modest growth,” the NAB said.

NAB’s forecast for interest rates has changed, following the RBA’s decision to hold interest rates steady at its most recent meeting at the beginning of the month.

The lender said there is the possibility of an additional rate cut, which will likely take place in May.

“Thereafter, we see the cash rate unchanged until mid-2013 when rates will be under upward pressure from wages and a strengthening labour market,” the NAB said.

New HARP Could Help Up to 6.7 Million

Recent changes to HARP mean that some 6.7 million homeowners will be eligible to refinance their mortgage to a lower interest rate under the government-backed program.

That’s according to a new analysis by the real estate analytics firm DataQuick. The company estimates that’s how many borrowers could potentially benefit from a recent change to the program that allows borrowers to refinance regardless of how far underwater they are on their mortgage.  

Limit on underwater refinancing removed

  Mortgage servicers are currently implementing several changes to the program, which were announced by the Obama administration last fall. Chief Read the full post

NAB Bid For Lloyds UK Branch Network Faces Crunch Time

According to reports in the UK, Australian banking major National Australia Bank is resisting intense pressure to table a bit for 632 branches that have been put up for sale by Lloyds Banking Group.

Bidders for the Lloyds retail branch network were caught by surprise when it emerged that Lloyds chief executive Antonio Horta-Osario had set a snap deadline for an indicative bid for yesterday.

According to the Guardian, NAB is still a contender to buy the branch network, but has told Lloyds that it needs more time before submitting an opening bid.

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Satisfaction with Lenders Increases

Mortgage credit remains as tight as ever, but consumers seem to view their mortgage lenders more favorably than they did one year ago.

Customer satisfaction with mortgage originators is up this year, according to new survey results reported today by J.P. Power and Associations. The study, which measure customer satisfaction in four areas of the process of obtaining a mortgage, rated overall customer satisfaction at 747 on a 1,000 point scale, up 13 points from last year. 

More effort focused on creditworthy customers

  “The reality today is that it’s a lot harder to get credit than it was a few years ago,” said David Lo, director of financial services for J.P. Power. “Many h Read the full post