Finance Headlines

Tech Stocks Lead the Way in First Half

Buoyed by better-than-expected earnings and some cautious signs of optimism, tech stocks have far outpaced the broader stock market in the first half of the year, hinting that the high-tech sector will help lead the nation out of the Great Recession. The tech-heavy Nasdaq composite index is up 17 percent since Jan. 1, and 153 Silicon Valley tech companies have scored double-digit gains in their share prices.


Investment Banks Bullish on Chinese GDP Growth

Merrill Lynch & Co., Inc. has upgraded its prediction on China's 2009 GDP growth from 7.2% to 7.6%, according to its announcement on June 29. On the same day, JPMorgan & Chase & Co. announced that it lifts forecast for the country's GDP growth from 6.0% to 6.9%.


The Worries of Wealth

The rich may have more options in a recession than most of us, but they have their money worries, too. Joan Major, director of wealth management at Sand Aire Ltd., a multi-family office in London, recently discussed the financial challenges that keep high net worth investors and their advisers awake at night.


U.S. Savings Rate Surges to 15-year High in May

The American savings rate in May rose to 6.9 percent, the highest level since December 1993, said the Commerce Department on Friday.


Global Banks 'Past Worst of Crisis'

Global banks are past the worst of their crisis over their securities activities, a top rating agency said on Thursday, referring indirectly to such toxic assets as subprime mortgages. The assessment should underpin the credit ratings of affected banks, the credit rating agency Standard & Poor's said, but improvement in their securities-related businesses would be gradual. And it noted that in a separate area of banking activity, losses from bad loans were now rising.


Financial Crisis Met, Inevitably, By Regulation

It is almost fatal: every crisis generates an impetus for more regulation, because the crisis reveals errors, shortcomings, loopholes and negligence, which were not so obvious during the times of abundance, or of exuberance, as some say. President Obama has presented a proposal to regulate the financial sector and the expectation is that Congress will approve the set of measures by the end of the year.


Florida Minority Community Reinvestment Coalition Protests Bank of America's Lending Practices

Florida activist Al Pina has launched a community campaign against Bank of America over its the minority-lending record and practices. Pina, founder and chairman of the Florida Minority Community Reinvestment Coalition, is staging a hunger strike in protest of what he views to be Bank of America's lack of transparency toward low-income minorities.


HBO Feature Suggests Lenny Dykstra's Empire in Trouble

In a provocative piece that aired on the HBO program "Real Sports with Bryant Gumbel," correspondent Bernard Goldberg updates a segment that initially aired in March 2008 on Lenny Dykstra, the former Phillies star who has since become the target of some 20 lawsuits from his activities as a financial entrepreneur.


A Way to Boost Social Security

As wanna-be retirees dig through the rubble of their 401(k)s and the financial crisis, they're hearing about some quirky ways for claiming Social Security benefits. One odd idea for two-paycheck couples in their 60s: Claim now, and then claim later to get more money each month. Yeah, it sounds weird. It's so complex that even some economists who are good at math aren't sure about how it could work. It's definitely not going to work for everyone. But some couples can make this work by understanding how Social Security rules work.


Stocks: Time to Get Back in?

Remember the classic movie "Jaws," when people wondered whether it would ever be safe to get back in the water? Investors burned by last year's stock market crash know how they felt. But now a historic Wall Street rally has propelled the market up more than 30 percent from its 12-year nadir in early March. And investors who pulled hundreds of billions of dollars to the sidelines last year are wondering whether it's time to get back in.


CDFIs: Financing Opportunity in Underserved Communities

Slightly beyond the borders of where conventional financial institutions will go sits a valuable resource jewel. Community Development Financial Institutions, or CDFI's, venture into unconventional market territory to finance affordable housing, small businesses, community facilities and nonprofits. For more than two decades, CDFI's have expended billions of dollars to create jobs, build affordable housing, and provide vital community services ranging from child care to charter school education in urban and rural communities across the country.


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