Australian banks have “appreciably improved” their mortgage-lending standards, the nation’s regulator said, as it left the amount of additional capital banks are required to hold as a buffer against the build-up of credit risk at zero. The pace of lending to property investors is currently at around half of the regulator’s recommended levels, and higher-risk mortgages — such as those with loan-to-value ratios of over 90 percent — had fallen, the Australian Prudential and Regulatory Authority said in its annual report on the operation of the counter-cyclical capital buffer.
Day: January 15, 2017
Six-Hour Meeting of Chinese Tycoons Eases LeEco Cash Crunch
It took Jia Yueting just over six hours in December to snag $2.2 billion from a Chinese real estate mogul to keep LeEco afloat. In so doing, the entrepreneur secured a vital financial and strategic ally as he prepares to do battle with the likes of Tencent Holdings Ltd. and Tesla Inc. Jia’s LeEco, the sprawling conglomerate with interests ranging from electric cars and TVs to entertainment, announced Friday its cash crunch was almost over after winning 16.8 billion yuan in strategic investments, mostly from Sun Hongbin’s Sunac China Holdings Ltd. Jia declared he’ll now use the money to “far surpass” China’s three biggest internet companies: Baidu Inc., Alibaba Group Holding Ltd. and Tencent.
As OPEC Acts on Its New Year’s Resolution, U.S. Shale Pumps Away
U.S. shale is getting in the way of a New Year’s resolution by OPEC to cut production and boost the market. Producers and merchants increased their bets on lower West Texas Intermediate crude prices to the highest level since 2007 as futures held above $50 a barrel.
Asia Banks Seeking Tech Hires Over `Rock-Star’ Bankers This Year
Financial institutions in the Asia-Pacific region will be more inclined to hire technology specialists this year than investment bankers as they enhance product offerings and upgrade their systems, according to a survey by Options Group Inc. Among regional financial-services managers, 40 percent say they expect to increase their headcount for information technology-related roles this year, according to a September-October survey conducted by the New York-based recruiter. By comparison, only 18 percent of the 380 managers surveyed intended to add jobs in investment banking, while 29 percent may do so in fixed income and equities sales and trading.
Kaisa Mystery Taking Time to Clear as China Builder Delays
The first property developer from China to default on dollar bonds said last week it needed more time to release earnings already delayed by about two years. It’s the kind of treatment bond investors have gotten used to.
Should a Change in Leadership Mean a Change in Your Financial Strategy?
By Brad Sherman via Iris.xyz The market’s wild ride after the presidential election might have you wondering if a change in leadership should mean a change in your financial strategy.
Drain the FCC swamp
President-Elect Donald Trump is looking for bold actions to “drain the swamp” in Washington, DC and free America’s economy, so that it can once again become the global leader and innovator. A great place to start would be abolishing the Federal Communications Commission .
Kevin Starr, California’s premier historian, dies at 76
In this March 29, 2004, file photo, California Gov. Arnold Schwarzenegger, right, and state Librarian Kevin Starr, smile after unveiling the design chosen for the California Quarter during ceremonies in Sacramento, Calif. Starr, California’s former librarian and one of the state’s premier historians, died Saturday, Jan. 14, 2017.
Most Americans Are Dead Wrong About IRAs
There’s no such thing as a one-size-fits-all retirement plan. Because we all have specific, individual needs, what might work for one person might cause another to come up short financially when they’re older.
6-Point Checklist for Making Sure You Can Afford to Invest
If you’re itching to start investing in the stock market, who could blame you? It’s where Warren Buffett and countless others have made much of their money, and it’s just about the best way to build wealth over the long term. But hold your horses: First use these six questions as a checklist to make sure you can afford to invest.
Will Veterans Affairs Nominee David Shulkin Privatize the VA? We Don’t Know
If confirmed, Shulkin, the current Undersecretary for Health at the VA, would be the first non-veteran to hold the post and the first Obama administration alum in Trump’s Cabinet. President-elect Donald Trump’s pick to serve as Secretary of Veterans Affairs, Dr. David J. Shulkin, has worked in the Cabinet office for 18 months.
How a Roth IRA Can Help You Make the Most of Social Security
If you’re earning income by working, and also collecting Social Security, you might be missing out on a valuable strategy that can increase the likelihood of maintaining financial security in retirement. Are you making the most of your Social Security income? If you’re not contributing to a Roth IRA, the answer may be no.
S Korea corruption: Court to decide on Samsung chief arrest
South Korea’s special prosecutor is due to decide whether to seek an arrest warrant for Samsung chief Lee Jae-yong. Samsung is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of Ms Park, in exchange for government favours.
Work-life balance ‘increasingly stressful for fathers’
Firms are not helping working fathers enough to take a more active role in childcare, according to a work-life balance charity. Although 70% of fathers can work flexibly, half are finding striking a work-life balance increasingly stressful, Working Families said.
Pound Drops on EU Concern, Japanese Shares Fall: Markets Wrap
The pound tumbled and U.S. stock futures fell on a report that U.K. Prime Minister Theresa May will signal plans to quit the European Union’s single market to regain control of Britain’s borders and laws. Japanese shares fell, while the yen and gold rose.
Takata’s $1 Billion Air-Bag Settlement Seen Removing Hurdle
Takata Corp.’s agreement to pay $1 billion to settle a criminal investigation removes a hurdle to the air-bag maker’s sale, which the company needs to continue operations and complete the biggest product recall in automotive history. The Tokyo-based company admitted to hiding the deadly risks of its air bags for about 15 years and agreed to plead guilty to one criminal charge in the settlement, according to court papers.
Nintendo Takes Big Gamble With Switch’s Split Personality
Nintendo Co.’ s new Switch gaming console won’t be in stores until March 3, but the machine is fully baked and ready to play.
Fashion: Worn in the USA, but made overseas
The United States is one of the world’s largest apparel markets, but 97 percent of the garments sold here are made elsewhere. So it will come as no surprise if fashion is the first industry to be affected when President-elect Donald Trump launches his trade strategy after taking office on Friday.
An unlikely group of stores is becoming a major threat to…
Chains like 7-11, Wawa, and Circle K are ramping up prepared food offerings, according to Anna Kang at Nation’s Restaurant News. The convenience stores are getting ahead thanks to a few distinct advantages over traditional fast food chains.
When Jerry Jones bought the Dallas Cowboys they were losing $1…
When Jerry Jones bought the Dallas Cowboys they were losing $1 million per month and now it is the most valuable team in the world The Dallas Cowboys are now the world’s most valuable sports franchise, according to the most recent valuations by Forbes, but things weren’t always so great for “America’s Team.” Cowboys owner Jerry Jones was recently a guest on Adam Schefter’s podcast and he told a story about just how bad things were when he first purchased the team in 1989.
Where are they Now? The 7 quarterbacks drafted before Dak…
Maybe the most surprising storyline of the 2016 NFL season has been the emergence of Dak Prescott. The young quarterback went from a third-string rookie taken in the fourth round to the starter on arguably the best team in the NFL, the Dallas Cowboys.
The biggest challenge for automakers in the 21st century is to…
Coming off another record-setting US sales year , and the roll out of a host of new electric and autonomous cars at CES and the Detroit auto show, the auto industry has rarely looked better. And although Donald Trump has taken shots at car companies for contemplating new factories in Mexico, the industry overall is looking forward to what it thinks will be “pro-growth” policies under the new administration, coupled with a break on stringent EPA-mandated fuel-economy standards.
24 examples of Aaron Rodgers’ amazing competitiveness
The Packers QB has called himself “obsessively competitive,” claims to remember every interception he’s ever thrown, will sometimes go days without talking to his teammates because of locker-room card-game disputes, and once dropped an f-bomb on “Celebrity Jeopardy!” after missing a question. This sort of competitiveness is what helped an undersized high schooler with no Division 1 scholarship offers go from playing junior-college football to winning two regular season MVPs and a Super Bowl MVP.
Facebook to Test Fake News Filtering in Germany
The social media giant has announced a series of measure to curb online disinformation ahead of Germany’s national election later this year. Facebook on Sunday announced it will take measures to identify and reduced the distribution of fake news on its platform in Germany.
Amazon seeks FCC permission to run undisclosed experiments in Washington State
Amazon founder and chief executive Jeff Bezos speaks in Santa Monica, Calif., in 2012. His firm sought permission from the Federal Communications Commission to conduct undisclosed experiments in Washington State for five months beginning Feb. 11, 2017.
Detroit Auto Show: Will Volkswagen Build This Electric Microbus?
The I.D. Buzz Concept, as it’s called, transforms the old icon’s classic shape into something the original’s hippie fans might have liked: a zippy all-electric minivan. It’s an appealing concept that drew crowds at the North American International Auto Show.
article
Honda’s all-new 2018 Odyssey will bring new familiy-friendly high-tech features to market when it arrives this spring. Image source: Honda Motor Co., Ltd. executives took the wraps off of the company’s all-new 2018 Odyssey minivan at the North American International Auto Show in Detroit on Monday.
Report: Tony Romo still wants to play for the Denver Broncos…
The Dallas Cowboys’ “No. 1 priority this offseason” is going to be trading Tony Romo, according to Ian Rapoport of the NFL Network, however, that may not be as easy as originally thought.
Check out the flashy $2 billion stadium the Raiders want to…
The Oakland Raiders are considering a move to Las Vegas, Nevada and the stadium renderings show the massive $2 billion arena. Click below for the top news from around the Bay Area and beyond.
Will Coca-Cola Raise Its Dividend in 2017?
Coca-Cola has a long track record of providing dividend growth to its shareholders, finding ways to boost its payouts even when the company has gone through difficult situations, and it has averaged more than 12% in annual returns to shareholders over the past half century. The soft-drink giant is facing some tough challenges right now as it tries to navigate the changing consumer preferences among its customers, but the question that shareholders have is whether that will stop Coca-Cola from continuing its impressive history of rising dividends.
Why Match Group Inc Stock Jumped 26% Last Year
A number of factors led to its standout performance, including blockbuster growth from Tinder, strong operating leverage, and consistently beaten earnings estimates. Let’s take a closer look at how things played out in 2016.
Which Is Better: Lump Sum Payment vs. Defined Benefit Pension?
Here, they ponder two alternatives: take a lump sum payment now or the long-term annuity that pays out at a later date. To get to the bottom of this question, they also have to break down the health of the pension plan.
What Is Home Automation?
A home automation system is any series of devices — such as home appliances, lights and even security cameras — wirelessly connected to a central hub that can be remotely accessed, controlled and monitored. The technology controls these products using voice activation or input from a smartphone or notebook.
What the Dow Does in 2017 Just Doesn’t Matter. Here’s Why.
It’s natural to look at the New Year as a time to evaluate your investments’ performance, and with the bull market in stocks heading into its ninth year, some investors are worried about what the stock market will do in 2017. However, most investors shouldn’t dwell on what the coming year may bring for stocks.
Trumpcare, Not Obamacare, Could Be a Job Killer
In less than one week’s time Donald Trump is set to become the 45th president of the United States, which seemed mighty unlikely about a year and a half ago when campaigning began. While his agenda once in office is seemingly a mile long, at the top of the list appears to be the repeal of the Affordable Care Act, which you probably know best as Obamacare.
Traditional IRA vs. Annuity: Which Is Right for You?
It’s estimated that at least one out of every three Americans has no retirement savings in place. If you don’t have access to an employer-sponsored 401 plan, you’ll need to be especially proactive in identifying a retirement savings solution.
Top Consumer Stocks to Buy in 2017
The year 2016 was not a good year for most retailers. Several high-profile chains filed for bankruptcy — I’m looking at you, Sports Authority and Eastern Mountain Sports — and big-box retailers like Macy’s , Sears , J.C. Penney , and even Wal-Mart reported dismal sales that led them to close hundreds of stores.
Should You Get a Medicare Advantage Plan?
You may or may not have heard of Medicare Advantage plans, but you would do well to learn more about them. After all, as of last year, more than 17 millionAmericans had enrolled in them, up from about 7 million in 1999.
A Republican Privatization of Social Security Is a Real Possibility
Social Security was among the most important issues heading into the 2016 election. Yet, interestingly enough, it wasn’t paid very much attention during the debates, which is surprising when you consider that 61% of current retired beneficiaries count on Social Security to provide at least half of their monthly income.
Watch Apple Try to Prove its Wacky New Airpods Won’t Fall Out of Your Ears
Over the weekend, the tech giant debuted its first round of ads for its wireless earbuds. Among four of the ads launched is one that shows a young man dancing on the streets of a city wearing the Airpods — of course, not one of the all-white gadgets drops from his ears.