| £500m deal sealed to freeze council tax
A HISTORIC deal to freeze council taxes was struck between the Scottish Government and local authorities yesterday. John Swinney, the finance secretary, and council leaders agreed a funding package of more than £500 million that will make it possible to peg taxes at current levels. Mr Swinney is understood to have won over sceptical council leaders after offering them the extra money, alongside a promise of greater autonomy over how they spend the cash. .
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The Elm City ID card was established in May in part to facilitate the process by which undocumented immigrants can open bank accounts. But interviews with local banks indicate it may not have had its intended effect. Amid confusion over federal policy toward cards such as New Haven's, banks in the Elm City have declined to accept it as sufficient primary identification — and even in some cases a secondary identification — when residents apply for accounts, an investigation by the News has shown. Meanwhile, general ignorance of banks' varied policies prevents many undocumented residents from opening accounts. Despite these limitations, they are still able to open accounts at some New Haven banks by presenting consular identification cards, which do not require proof of legal status in the United States.
U.S.-based Gladys Guevarra still hounded by intrigues
August 18 nang umalis ng bansa ni Gladys Guevarra kasama ang Fil-Am boyfriend na si Philip Peredo papuntang New Jersey. Iniwan ni Gladys ang showbiz career at buhay niya rito sa Pilipinas dahil pangarap niya talagang mabago ang takbo ng buhay niya. Ito ay sa kabila ng magandang itinatakbo ng career niya rito. Bagama't tahimik na siyang namumuhay sa Amerika, hinahabol pa rin ng tsismis si Gladys dahil sa biglaang pagkawala niya. Nariyang buntis daw siya, pero kanyang idinenay ito sa mga talk shows via phone patch. Nariyan ding ikinasal na raw sila ni Philip, pero pinabulaanan din ito ng comedienne. Bago umalis si Gladys, nabanggit niyang mag-aaral siya ng culinary arts sa New York.
(AFX UK Focus) 2007-11-14 11:01 GMT: HSBC sees higher Q3 profit; revenue growth offsets US loan charge UPDATE
(adds further detail on US, Asia-Pacific, updates share price) LONDON (Thomson Financial) - HSBC Holdings PLC, the UK's biggest bank by market value, said third quarter profits will be ahead of a year ago, as a higher than expected 3.4 bln usd charge for US loan impairment was offset by revenue growth. The US bad debt charge was some 1.4 bln usd higher than would have been expected if first half trends had continued, the bank said. 700 mln usd was related to US mortgages, with the remainder made up of branch unsecured loans and cards portfolios.
HSBC said its total bad debts related to the US subprime mortgage market rose to rose to 3.4 bln usd at the end of September from 2.6 bln usd at the end of June.
The bank warned that the problems in its subprime mortgage business could worsen if the downturn in the US housing market continues.
Mike Whitney retiring: Even after 30 years, the more things change, the more they stay the same
Michael C. Whitney started out as a credit analyst for Indian Head Bank in Nashua. It was an era when banking transactions at the teller window were noted by pen and paper. Now there are global transactions taking place at the touch of a button, faster than the speed of sound. And now Whitney -- state president of Bank of America -- will put 30 years of a stellar career on the shelf, retiring at the end of the year. Indian Head, the old Nashua bank, is directly connected to B of A, the nation's second largest bank and one of the world's largest financial institutions. And Mike Whitney has seen first-hand the enormous changes that have taken place in American banking over the past three decades. At the end of 1988, Fleet/Norstar Financial Group bought out Indian Head Bank, and Whitney became president of Fleet New Hampshire in 1992.
BofA launches football-related sweepstakes
Bank of America Corp. has launched a six-week sweepstakes to encourage saving through its Keep the Change program. Through the promotion, dubbed Monday Morning Quarterback, customers can win prizes that include a trip for two to Super Bowl XLII in Arizona. Participants also will vie for weekly prizes such as a refund equal to one-quarter of their weekend spending. Customers can go to www.bankofamerica.com/quarterback for information and to enroll. Keep the Change customers have each check-card purchase rounded up to the next whole dollar amount. The difference is transferred from their checking account to their savings account. "Through the Monday Morning Quarterback promotion, we hope to highlight the importance of saving and remind customers that they can join the more than 6.5 million customers who have already saved more than $620 million just by enrolling in Keep the Change and using their debit cards for everyday purchases," says Susan Faulkner, deposits and student-lending executive.
HEADLINES FOR OCTOBER 19, 2007
A member of the audience asks the school board candidates a question during a candidate forum on Tuesday, Oct. 9. The candidates are: (from left) Beth Hane, Dean Brown, Rolf Mohwinkel, Melissa Brings, and Patti Pokorney. Education funding was talked about fairly often during a School Board Candidate Forum held at the Buffalo City Center on Tuesday evening, Oct. 9. After all, the school board election takes place on Nov. 6 at the same time as a three-question levy referendum. The event was organized by the Buffalo Area Chamber of Commerce and hosted by Joe Carlson of KRWC Radio. Rolf Mohwinkel, a longtime teacher and three-term school board member, said no gravy train provides money for the schools, and funding issues �are always going to be there.� The school district has to �live with what it gets.� But it has the option of letting the voters decide on providing more than the state provides.
ADRs in Focus: Latin America
An index of Latin American ADRs fell Monday afternoon, following the U.S. markets lower in a troubled day for stocks, especially in the financial sector. The Bank of New York Latin America ADR Index -- which includes shares of companies based in Argentina, Mexico, Brazil and more -- lost 16.27 points, or 3.8 percent, to 412.03. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas. .
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