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Never, ever purchase these things on your credit card

Never, ever purchase these things on your credit card

Finance
As we move farther and farther down the road toward a cashless society, consumers can use credit cards to pay for nearly everything, everywhere these days. But just because you can doesn't mean you necessarily should, warns credit reporting agency Experian.Outstanding card debt has now hit its highest point ever, surpassing $ 1 trillion in 2017, according to the Federal Reserve. And 86 percent of Americans who have or had credit card debt said they regret it, according to a recent report by NerdWallet.More from Advisor Insight:The bad things people do with 401(k) plansWhat sort of insurance do you need?Most consumers confused about credit, debtHere are six expenses Experian advises you to not put on plastic.1. Taxes. If you get slammed with an unexpected tax bill this April, it could be te...
How PNB scam exposes the biggest flaws in the Indian banking system

How PNB scam exposes the biggest flaws in the Indian banking system

Finance
KOLKATA: Amid the blame game between Punjab National Bank (PNB) and other affected lenders in the Rs 11,300-crore scam, the elaborate web of deception has served to expose the biggest flaws in the Indian banking system – weak risk management practices and glaring over sight lapses. While international banks tightened supervision and corporate governance after the subprime credit crisis in 2008, most Indian banks appear to have remained laggards. Doubts are now being raised in several quarters as to how PNB officials at Mumbai’s Brady House branch continued to issue letters of undertaking (LoU) against import receipts from Nirav Modi and his firms for seven long years without attracting management supervision. Overseas branches of other lenders such as Axis Bank or Allahabad Ba
How Activision Blizzard Has Become a Safer Stock

How Activision Blizzard Has Become a Safer Stock

Finance
The year 2017 was an important one for Activision Blizzard (NASDAQ: ATVI) . The company behind Overwatch  was able to grow revenue and earnings despite few new game releases. However, throughout the year, Activision kept up a steady release of game updates, additional features, and events across many titles that kept player engagement at high levels. This built engagement to the point where Activision finished the year with back-to-back quarters in which daily time spent per user reached more than 50 minutes across all games, which is consistent with the most popular social media outlets.It's not about new game sales anymoreActivision is entering a stage in its growth where it's less dependent on new game releases as in years past. In fact, man...
PNB fraud: How the professionals pulled off the con

PNB fraud: How the professionals pulled off the con

Finance
MUMBAI: How did two employees try to fool a stodgy bank in the largest diamond house fraud that surfaced on Valentine’s Day, when thousands of pearls and gems change hands across the world? In raising funds and moving money out of Punjab National Bank (PNB), the two employees of the state-owned lender directly used SWIFT — the global financial messaging service used to move millions of dollars across borders every hour — and bypassed the core banking system (CBS) which processes daily banking transactions and posts updates. It was a ploy to avoid immediate detection: the SWIFT messages used to raise overseas credit were not readily available in PNB’s FINACLE software system as these were issued without entering into the bank’s CBS. WHAT REALLY HAPPENED?It began with di
Advisors not up to speed on blockchain technology will get left behind: Experts

Advisors not up to speed on blockchain technology will get left behind: Experts

Finance
If you're a financial advisor, chances are you're not using blockchain technology and not even sure how to define it.But you could be missing one of the biggest developments poised to disrupt the entire financial services industry, according to some financial experts.Blockchain technology was developed to serve as the backbone for the bitcoin cryptocurrency.But the blockchain is rapidly gaining popularity as people realize its value as a mechanism for executing transactions without the oversight of a third party or central bank, said Magdalena Ramada, senior economist at Willis Towers Watson, in a presentation at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida.The blockchain is defined as a digital distributed ledger, or registry of information, according to R...