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Birth month now basis for SSS pensioners’ schedule of annual visit -- SSS

April 15, 2013 15:47
Social Security System pensioners can now easily remember their annual schedule for confirming their eligibility to pension, with the yearly visit to banks or SSS, SSS said in a press release Monday. It said the annual schedule is based on the members’ birth month, instead of the month of contingency such as retirement, death or disability. SSS President and Chief Executive Officer Emilio de Quiros, Jr.

Barclays broke rules, used advisory staff for CO2 deal: lawyer

April 15, 2013 13:30
By Michael Szabo LONDON, April 15 (Reuters Point Carbon) - Barclays plc broke internal rules by transferring advisory staff with confidential information to its acquisitions team to help buy a Swedish carbon credit firm, a lawyer for a former client said on Monday. London-based trading house CF Partners is suing the bank for 82 million euros (70 million pounds), saying Barclays advised it on a potential bid for Stockholm-based Tricorona in 2008 then used the information to buy the carbon firm itself two years later.

Soaring US stocks shrug off bad news

April 12, 2013 18:00
There has been plenty of recent ammunition to feed skepticism in the bull market of 2013. Yet stocks continued to float higher, racking up solid gains for the week. Markets dipped on Friday after the release of weak retail sales data and middling earnings reports from banking giants JPMorgan Chase and Wells Fargo. But it wasn't enough to dent the overall gains for the week, which were considerable.

Vinkele calls talk of raising retirement age to 70 speculative

April 12, 2013 15:47
All talks about raising the retirement age to 70 are speculations, Welfare Minister Ilze Vinkele (Unity) emphasized in an interview with the LNT morning show "900 sekundes" today. Vinkele pointed out that the decision on increasing the retirement age to 65 was made only last year and increasing the retirement age will begin next year. She also noted that Latvia's society does not differ much from other European countries in terms of aging. Commenting the recent criticisms of the second pillar pensions, the minister rejected them as unfounded. Vinkele pointed out tha

Wells Fargo profits rise but new mortgages weaker

April 12, 2013 13:02
Wells Fargo Friday reported a 22 percent increase in quarterly earnings on improving credit quality, but said its pipeline of new mortgages was slowing. Net income for the quarter rose to $5.2 billion on $21.3 billion in revenues, compared with $4.2 billion on revenues of $21.6 billion in the year-earlier period. The bank, the largest US mortgage originator, reported improving credit quality as the housing market steadies. Wells Fargo reduced its provision expense to $1.2 billion in the quarter, from $2 billion in the year-earlier quarter.

Ombudsman for pension rate increase

April 12, 2013 10:53
Ombudsman Punjab Javed Mahmood on Thursday directed Finance Department to review and obtain Chief Minister’s approval to increase the meagre amount of Rs3000 per month minimum pension in order to fulfil the promise made to the elderly and hapless retired government employees according to the constitution.Ombudsman Punjab Javed Mahmood issued these orders on the complaint of a retired chowkidar of Sardar Town Sher Shah Colony Lahore, Muhammad Shafi who had not been receiving the minimum pension of three thousand rupees per month from Accountant General Punjab.Ombudsman Punjab

International investors keen to invest in OGDCL shares

April 12, 2013 10:17
A team of Oil and Gas Development Corporation Ltd (OGDCL) held detailed interactions with leading international investors to convince them to invest in Pakistan by highlighting glowing incentives. At ‘Asean Stars Conference’ organized the Bank of America Merrill Lynch in Singapore OGDCL representatives apprised the world’s leading investment companies about conducive and investment friendly environment along with commitments of the government. Various Asset Management Companies and Fund Managers of the world attended the conference and Pakistani delegation highlighted financial

Wells Fargo profits rise on improving housing

April 12, 2013 09:46
Wells Fargo reported Friday a 22 percent increase in quarterly earnings compared with last year, as credit quality continued to increase with the improving housing market. Net income for the quarter rose to $5.2 billion on $21.3 billion in revenues, compared with $4.2 billion on revenues of $21.6 billion in the year-earlier period. The bank, the largest US mortgage originator, reported improving credit quality as the housing market steadies. Wells Fargo reduced its provision expense to $1.2 billion in the quarter, from $2 billion in the year-earlier quarter.

Wells Fargo profits rise on improving housing

April 12, 2013 09:31
Wells Fargo reported Friday a 22 percent increase in quarterly earnings compared with last year, as credit quality continued to increase with the improving housing market. Net income for the quarter rose to $5.2 billion on $21.3 billion in revenues, compared with $4.2 billion on revenues of $21.6 billion in the year-earlier period. The bank, the largest US mortgage originator, reported improving credit quality as the housing market steadies. Wells Fargo reduced its provision expense to $1.2 billion in the quarter, from $2 billion in the year-earlier quarter.

Post Office takes on banks with current accounts

April 11, 2013 09:45
By Matt Scuffham LONDON (Reuters) - The Post Office will provide a new competitor to Britain's established but unpopular high street banks, offering current accounts to customers at its 11,500 branches across the UK from this spring. The government-owned Post Office said its move to add current accounts - the top prize for British banks looking to broaden sales to customers - to its existing range of money products would turn it into one of Britain's biggest financial services providers.
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