News That Matters

Finance

CenturyLink Cobbles Together a Decent Second Quarter

Finance
[unable to retrieve full-text content]Investors have been none too happy with CenturyLink NYSE CTL this year Shares are down 27 year to date with that fall fueled by the mid February announcement that the company would be more than halving the dividend Meanwhile revenue has continued its slow move in the Latest Articles in
How to get the most from this tax-free source of retirement income

How to get the most from this tax-free source of retirement income

Finance
Glenn Daily, a fee-only insurance consultant, owns a whole life insurance policy.Glenn DailyRoth IRAs and Roth 401(k) plans aren't your only sources of tax-free income in retirement.Say hello to so-called permanent life insurance — a policy with an interest-bearing account that's known as cash value.This cash value accumulates without being subject to capital gains taxes, and the interest rate it accumulates can beat what you'll get in a traditional savings account. "It's been one of my best fixed income investments because the cash value grows at more than 4% a year consistently," said Glenn Daily, a fee-only insurance consultant in New York. It's "a low-risk and tax-deferred fixed income investment with easy access to policy loans."The 66-year-old has a whole life insurance contract tha
Punjab & Sind Bank cuts MCLR by up to 20 basis points

Punjab & Sind Bank cuts MCLR by up to 20 basis points

Finance
New Delhi: State-owned Punjab & Sind Bank (PSB) on Saturday said it has lowered its marginal cost of funds based lending rate (MCLR) by up to 0.20 per cent for various tenors. "Our bank has reviewed the marginal cost of fund based lending rate (MCLR) for different tenors and the same will be effective from 16.08.2019," Punjab & Sind Bank (PSB) said in a regulatory filing. The public sector bank has lowered the benchmark one-year MCLR to 8.50 per cent from 8.70 per cent earlier. Most of the consumer loans such as personal, auto and home are priced on the basis of the one-year MCLR. PSB has lowered MCLR on overnight, one-month, three-month and six-month duration loans by 0.15 per cent to 8.20 per cent, 8.30 per cent, 8.40 per cent and 8.50 per cent, respectively. It also reduced MCLR...
GE stock is fast recovering, but short seller investigator Harry Markopolos got his digs in

GE stock is fast recovering, but short seller investigator Harry Markopolos got his digs in

Finance
Fraud finder Harry Markopolos took GE stock down more than 11% in one day with a dizzying array of charts and numbers, but also some choice words accusing analysts, ratings agencies and GE's management of Enron-era behaviors.A day later, GE stock rebounded nearly 10% on Friday after GE CEO Larry Culp invested $ 2 million on the dip and analysts came to GE's rescue, mostly calling Markopolos' claims inaccurate or based on old news that was already baked into GE's stock price.Markopolis, known for discovering Bernie Madoff's scheme, accused GE of using fake revenues and earnings, hidden debts and losses, unreadable financial statements, misleading disclosures and other accounting tricks to perpetrate a $ 38 billion fraud. Markopolos also said he wrote his report for an unnamed hedg...
PSU banks told to discuss roadmap for industry

PSU banks told to discuss roadmap for industry

Finance
NEW DELHI: North Block has asked public sector banks to initiate a month-long consultation process with officers starting at the branch level to seek suggestions for preparing the future roadmap of the banking sector. “Branch level credit growth, non-performing assets recovery, performance of schemes such as Mudra would be reviewed," said a person familiar with the directive. The department of financial services has also circulated papers on nine subjects including digital payments, corporate governance, MSME credit authored by Nandan Nilekani, Uday Kotak, UK Sinha and Soumya Kanti Gosh. The move comes in the backdrop of a meeting held by finance minister Nirmala Sitharaman with public sector and private sector bank chiefs recently. The suggestions emanating from a monthlong campaign begin