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Financial Blog Corliss Group Lenders Fear Spread of Chinese Commodities Fraud Case - 2 views

    Large banks and trading firms are frantically trying to determine whether they have fallen victim to a suspected commodities fraud emanating from the giant Qingdao Port in northeast China. Citigroup and several other large Western banks are concerned that their loans may lack the appropriate collateral, big stockpiles of copper and aluminum at the port. The banks have inspectors on the ground who are trying to assess whether enough of the metals are there. The worry stems from suspicions that a Chinese companies pledged the same collateral for multiple loans. Chinese authorities are investigating the matter. The case could have broad repercussions for the commodities market and the Chinese economy. Banks have funneled billions of dollars into the Chinese economy through these murky transactions, and commodities prices have been falling over concerns that such lending will dry up. Western banks, including Citigroup, are bracing for any potential fallout. Just months ago, Citigroup fell victim to a multimillion-dollar fraud in Mexico. If the Qingdao developments harm the bank, regulators and shareholders are likely to press it to explain why its controls had failed again. Chinese companies are at risk, too.
Gerald Hussen

Financial Blog Corliss Online Group: Another deficit of clear thinking among Hong Kong'... - 1 views

Philip Bowring is appalled by the report on fiscal planning( that seeks to preserv...

Financial Blog Corliss Online Group Another deficit of clear thinking among Hong Kong's fiscal planners

started by Gerald Hussen on 12 Mar 14 no follow-up yet
Gerald Hussen

Corliss Online Group Financial magazine on how to get out of credit card debt faster - 1 views

    IT'S time to come clean about our dirty credit card habits and how we can avoid them eroding our wealth. While we've all been slowly reducing our outstanding credit card balances, with $34 billion still owing, they remain the scourge of most families. It's fair to say credit cards are the most potent weapon of mass financial destruction since the loan shark. Their convenience and flexibility means it's so easy for them to get out of hand and lead to serious financial distress. We need to be vigilant in ensuring our credit cards work for us and don't destroy our finances. To avoid getting into trouble in the first place, or get back in control of an existing debt, here are our five golden rules for using credit cards.
Gerald Hussen

Announcing the New and Affordable, Easy Access, PayPal Business Loan Options that Come ... - 0 views

    Reasonable, convenient PayPal commercial loans can now be availed of, thanks to alternative business lender, BusinessCashAdvanceGuru.Com. Small companies can be eligible to loans from $5,000 to $500,000 with interest rates as low as only 1.9 percent with no accompanying credit investigation. Small commercial lending has dropped significantly from the Great Recession. All over the country, small-sized businesses are now discovering working funds, business loans, and expansion capital as difficult to acquire. "Forty-five percent of the 515 business-people who joined the advocacy group's survey said availability of loans and credit at affordable rates is a hurdle for their companies. Access to funds was most hard in the Northeast, where 53 percent of the owners said it was difficult to obtain. In the West, 49 percent considered it a major obstacle, followed by 44 percent in the South and 37 percent in the Midwest," reported the Seattle Post Intelligencer.
Ruairi Ryan

Corliss Online Financial Group - The real role models of the global economy - 1 views

The real heroes of the world economy - the role models that others should emulate - are countries that have done relatively well while running only small external imbalances. Countries like Austr...

Corliss Online Group Financial magazine real role models of the global economy

started by Ruairi Ryan on 29 Nov 13 no follow-up yet
Gerald Hussen

Types of Shares - 0 views

    There are two types of shares, ordinary shares and preference shares. * Ordinary shares are the most familiar type of shares and have flexible dividends (dividends that are adjusted in relation to a company's profit). These shares also allow full voting rights. * Preferred shares carry fixed dividends, which must be paid before any dividends are paid to ordinary shareholders. However, preferred shares do not allow voting rights. Remember that when dealing with shares in the stock market as we know it, it will practically always be involving ordinary shares and this should not be a very big issue!
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