25 Jul
Posted by William Torres as Credit Cards Articles
When the Federal Reserve announced the repeal of a law banning interest-bearing business checking accounts, Capital One responded near-instantaneously with a new deposit account, Clear Interest Business Checking. Small business owners were previously required to sacrifice interest yields in order to keep their cash easily accessible, and either performed accounting gymnastics or suffered the consequences of effectively stuffing their money under a mattress.
As of July 21st, however, that landscape is changing. The 1933 law banning interest on business checking fell away, and Capital One is now the first bank to offer yields on business checking, finally giving small businesses a chance to do something with their cash.
The repeal of Glass-Steagall gained its fair share of attention in the aftermath of the financial crisis; the exclusion of the Volcker Rule was a major point of contention between President Obama and the GOP when the Dodd-Frank financial reform bill was crafted. But amidst the sound and fury over separating investment and depository banks, the repeal of one small but significant provision slipped by unnoticed.
Regulation Q prohibited banks from paying interest on business checking accounts in order to encourage investment.
25 Jul
Posted by Jacob Stewart as Credit Cards Guide
A Nasdaq-100 exchange traded fund reversed morning losses Tuesday as the technology sector held up relatively well while the major stock indexes were in the red on worries over the U.S. debt limit.
Broadcom rallied nearly 10% after the chip maker reported quarterly earnings with an upbeat outlook.
“We maintain our buy rating and increase our price target to $44 on Broadcom, as the company delivered on all fronts – a strong third quarter top-line guide, tight opex control and improving gross margins,” Auriga analysts said in a note. “This should come as a relief to investors after two disappointing quarters.”
“Broadcom reported modest second-quarter results in line with our expectations, but gave investors a bright third-quarter outlook as it expects a bounce-back in business conditions,” added Morningstar analyst Brian Colello.
Separately, Netflix shares were off 8% in the wake of its quarterly earnings report.
“Given that the shares were priced for perfection, it’s not surprising that the combination of a revenue shortfall and disappointing guidance for the third quarter had the shares down,” said Dougherty & Co. analyst Steve Frank
24 Jul
Posted by William Torres as Credit Cards Articles
The Starwood American Express upped its signup offer to 30,000 Starpoints from 25,000. However, the deal lasts only a month, running from , so you’d better jump on it while you can. Those 30,000 points are enough for 3 free nights at a Category 4 hotel. We crunched the numbers and found that Starpoints are worth on average 2.3 cents each, and can be valued at up to 5 cents each. On average, then, the new bonus offer is worth $690, topping even the Chase Sapphire Preferred’s 50,000-point deal.
The offer that Starwood and AmEx typically float around the internet is for 25,000 points 10k on first purchase and an additional 15k after spending $15,000 in the first 6 months. But for the next month, the offer has been sweetened quite a bit 10k on first purchase, and 20k after spending only $4,500 in the next 3 months. With a much lower hurdle to clear, the benefits of being a Starwood Preferred Guest member and cardholder are that much easier to enjoy.
We believe that if you’re a frequent guest of the Starwood hotels, you can’t do better than the American Express Starwood. In additi
24 Jul
Posted by Jacob Stewart as Credit Cards Guide
Wells Fargo CEO John Stumpf
One analyst questioned the bank’s capital ratios required under new international banking standards and how they compare to rivals.
The analyst compared Wells — Colorado’s largest bank — to other regional and super-regional banks while CEO John Stumpf spoke of how the bank compares with the nation’s other three banks with more than $1 trillion in assets.
Here’s a quick, edited interchange that occurred on the call, based on the transcript posted by Seeking Alpha.
One analyst questioned the bank’s capital ratios required under new international banking standards and how they compare to rivals.
The analyst compared Wells — Colorado’s largest bank — to other regional and super-regional banks while CEO John Stumpf spoke of how the bank compares with the nation’s other three banks with more than $1 trillion in assets.
Here’s a quick, edited interchange that occurred on the call, based on the transcript posted by Seeking Alpha.
Rest assured, analysts aren’t asking Jamie Dimon, the CEO of JPMorgan Chase JPMorgan Chase Latest from The Business Journals Bank of America mortgage hit may top billionU.S.
Goods and Services Tax is strikingly similar as Value Added Tax used by other countries. After GST was implemented on April 1, 1994 in Singapore, it was later on used as a guide on the VAT legislation in UK and New Zealand.
Goods and Services Tax is administered, reviewed, implemented and collected by the Inland Revenue Authority of Singapore . Read more…