| Credit card firms jack up charges
More credit card companies have been quietly raising a variety of charges to restore their profitability, says the information service Moneyfacts. Its latest survey shows that six card companies have made big changes to their charges in the past two weeks. Offers to transfer a card balance free of charge have almost all disappeared. Moneyfacts says banks are responding to last year's ruling by the Office of Fair Trading (OFT) that credit card default fees should be cut to just 12. "Battling with rising bad debts and a huge loss in revenue from the capping of default fees, credit card providers have been forced to look for other ways to maintain their income stream," said Michelle Slade of Moneyfacts. "Changes range from interest rate increases, by as much as 10% (on cash transactions), to shortening of interest-free deals," she added.
Credit card companies in profits crisis
More credit card companies have been quietly raising a variety of charges to restore their profitability, according to Moneyfacts. Its latest survey shows that six card companies have made big changes to their charges in the past three weeks.Offers to transfer a card balance free of charge have almost all disappeared. Moneyfacts says banks are responding to last year’s ruling by the Office of Fair Trading (OFT) that credit card default fees should be cut to just £12. "Battling with rising bad debts and a huge loss in revenue from the capping of default fees, credit card providers have been forced to look for other ways to maintain their income stream," said a spokesman for Moneyfacts."Changes range from interest rate increases, by as much as 10 per cent (on cash transactions), to shortening of interest-free deals," the spokesman added.
Why Halliburton's Move to Dubai Makes Cents
Blake Morphis submits: In a recent press release Halliburton (HAL) has announced that they will move their corporate headquarters to Dubai. Dubai is pro free markets and is rapidly becoming a booming area for Western businesses to take interest in. In terms of oil, Dubai is a prime location that can also offer substantial corporate tax savings for businesses. Let's take a look at a few of the pros and cons of this move and recap some of the key points that Jim Cramer said on Mad Money and key points made by Eric Bolling and Tim Strazzini made on CNBC's Fast Money show (both shows aired on 3-12-07). Pros: Dubai is the future center for oil. Analysts predict Middle East global oil production to continue to increase while production will continue decrease in United States.
Credit fees on the rise
Several credit card companies operating in the UK have raised a number of charges in the past few weeks, according to new information from Moneyfacts, the online financial comparison service. It named several credit card issuers as introducing higher charges, including Lloyds TSB (LSE: LLOY), Northern Rock (LSE: NRK), Nationwide, Marks & Spencer (LSE: MKS), GE Money (NYSE: GE), and Co-operative Bank. Moneyfacts says that the increases in charges are the companies' response to last year's Office of Fair Trading ruling that cut default fees to £12. Changes include increases in interest rates and cutting short interest-free offers. Moneyfacts pointed to a new requirement from Lloyds TSB as particularly unsavory. In order to be able to take advantage of a 0 percent balance transfer offer, Lloyds is now requiring customers to charge a minimum of £100 on their card within the first three months of issuance.
Simple Money Machines and Affiliate Project X Announce Free ...
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Online Poker: Affiliates looking for Higher Payouts
Millions of people all over the world play online poker daily at home and at work. The industry generated over $3 Billion in revenue in 2005 and that number is expected to exceed $12 Billion by 2008! That is a lot of money and it gives great opportunities to online poker affiliates. Affiliates can earn a lot of money by promoting online poker websites. Poker affiliate are free to join and allow you to work any hours you desire. The more you work, the more you make. You can become a part of this huge market by joining an online poker affiliate program such as the one offered at FreeSI.com. FreeSI.com uses its connections and knowledge of the industry to assist poker affiliates in making and receiving the most value from their websites traffic. The Unlawful Internet Gambling Enforcement Act of 2006 had a very challenging effect on all poker affiliates worldwide.
Free Audit Can Save Energy
MONTPELIER, Vt. -- Tom Walsh took advantage of a free energy audit offered by his gas company, following its recommendations that he insulate his Victorian home and install a new heater and hot water heater. It worked: He cut his natural gas use by 40 percent. Vermont Gas Systems has offered the program since 1992, covering the costs for the audits, rebates and low-interest loans with money raised by adding 1.5 percent extra on monthly bills. .
Philippine schools offer hard lesson in life
MANILA - School is out for Filipino children this summer and a large proportion of them wont be coming back. Dropout rates are climbing in the Philippines as years of underfunding and rapid population growth have left the countrys public schools once the pride of the region with insufficient teachers, classrooms and textbooks to go round. The poor are most at risk, creating a vicious cycle of impoverishment that two men armed with a submachine gun, a revolver and two grenades decided to highlight last week by holding dozens of children in Manila hostage. Although Filipinos abhorred the actions of Jun Ducat and his accomplice, the businessmans impassioned condemnation of corruption and inequality in education, aired live on TV, struck a chord. I wholeheartedly agree with the message because these are the kids who are neglected, said Dolores Espanol, chairwoman of the Philippine branch of Transparency International, which rated the country 126 out of 163 in a 2006 global survey on corruption, behind Libya and Uganda.
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