Tag: student-loans

JPMorgan, Bank of America Forgive Debts that No Longer Exist; Wonderful News! But For Whom?
September 30, 2012 0

JPMorgan, Bank of America Forgive Debts that No Longer Exist; Wonderful News! But For Whom?

By News Desk

Today, the New York Times notes Banks Forgive Debt That Isn’t There . GREETINGS, unhappy homeowners! Here’s some wonderful news: “We are canceling the remaining amount you owe Chase!†says a letter that JPMorgan Chase sent recently to thousands of home loan borrowers. “You are approved for a full principal forgiveness of your Home Equity Account,†says another, from Bank of America

China New Export New Orders Decline At Fastest Pace in 42 Months; China’s Precarious Rebalancing Act
September 30, 2012 0

China New Export New Orders Decline At Fastest Pace in 42 Months; China’s Precarious Rebalancing Act

By News Desk

New export orders fall at fastest rate in 42 months Output and input prices continue to fall Purchasing activity declines amid weak demand and lower production requirements Data in September signalled a stronger decline in Chinese manufacturing output, as the volume of new orders fell for the eleventh consecutive month. New export orders declined at the sharpest rate in 42 months amid reports of weak international demand, while lower workloads were linked to a fall in backlogs of work. After adjusting for seasonal factors, the HSBC Purchasing Managers’ Index™ (PMI™) – a composite indicator designed to give a single-figure snapshot of operating conditions in the manufacturing economy – posted 47.9 in September, up slightly from 47.6 in August, and signalling an eleventh successive month-on-month deterioration in Chinese manufacturing sector operating conditions.

Japan PMI: Output and New Orders Contract Further
September 28, 2012 0

Japan PMI: Output and New Orders Contract Further

By News Desk

Output and new orders both down again, albeit at slower rates Weaker underlying demand and strong yen impact on export orders Charges cut at sharpest rate for over two years Summary: Operating conditions in Japan’s manufacturing sector continued to worsen at a modest pace in September.

France Piles €20 Billion in Tax Hikes on Businesses and Wealthy
September 28, 2012 0

France Piles €20 Billion in Tax Hikes on Businesses and Wealthy

By News Desk

The Financial Times reports France unveils tough budget measures The measures announced on Friday included the controversial 75 per cent marginal tax rate on earned income above €1m a year, put in place for two years. But, as promised by President François Hollande, France was largely spared the kinds of hefty cuts in public spending, pensions and salaries imposed in other eurozone countries struggling to contain their sovereign debt.