HIGH INTEREST RATES (The Hindu)
An income that exceeds its expenditure can lend or invest the excess income. On the other hand, an entity whose income is less than its expenditure can raise capital by borrowing or selling equity claims, decreasing its expenses, or increasing its income. The lender can find a borrower, a financial intermediary, such as a bank or buy notes or bonds in the bond market. The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary pockets the difference.
HIGH INTEREST RATES (The Hindu)
Top officials of two-wheeler giants such as TVS Motors and Bajaj Auto have been quoted as saying that credit squeeze by banks and high lending rates are among the major reasons for the slowdown in sales. Banks lend about Rs 15,000 crore to the two-wheeler borrower.
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Capital One Reports Loss From Closing Mortgage Unit (Washington Post)
Capital One Financial of McLean posted its first quarterly loss ever, from the expense of shutting down its mortgage lender, and warned of additional challenges in the credit card and auto finance businesses.
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Fitch Rates SWIFT Master Auto Receivables Trust (SMART) Series 2007-2 (Business Wire via Yahoo! Finance)
NEW YORK----Fitch Ratings rates the SWIFT Master Auto Receivables Trust Series 2007-2 floating-rate asset-backed term notes, as follows: $1,000,000,000 class A 'AAA'; $92,100,000 class B 'A+'; $39,500,000 class C 'BBB+'; $13,200,000 class D 'BB+'.
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Bank offers lowest car finance rates (Gulf Daily News)
MANAMA: Kuwait Finance House-Bahrain is now offering a car finance rate of 4.25 per cent which it says is the lowest rate in the kingdom. In addition, no down payment is required when purchasing a car and customers will also receive an iPod shuffle free.
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Shed regional bias on vehicle loans, urges FM (Business Standard India)
Finance Minister P Chidambaram has asked banks to ensure that there is no lending bias against any state in providing vehicle loans, after automobile majors expressed concern that banks were not forthcoming in giving loans for cars and two-wheelers in certain states, adversely affecting their sales.
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Business Digest (Louisville Courier-Journal)
Finance officials from the world's top economic powers pledged yesterday in Washington to do all they can to limit damage to the global economy from a jarring credit crisis as Wall Street took another plunge.
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Fitch Rates Capital One Auto Finance Trust 2007-C (Business Wire via Yahoo! Finance)
NEW YORK----Fitch rates Capital One Auto Finance Trust 2007-C as follows: $157,000,000 5.28200% class A-1 notes 'F1+'; $69,000,000 5.29% class A-2A notes 'AAA'; $71,000,000 LIBOR + 0.42% class A-2B notes 'AAA'; $91,000,000 5.13% class A-3A notes 'AAA'; $192,000,000 LIBOR + 0.51% class A-3B notes 'AAA'; $170,000,000 5.23% class A-4 notes 'AAA'.
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Bankrate: Mortgage Rates in a Holding Pattern (PR Newswire via Yahoo! Finance)
Mortgage rates barely budged this week, with the average conforming 30-year fixed mortgage rate now 6.49 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points.
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Think You're Paying Too Much on Your Car Loan? (Benton Evening News)
(ARA) - You have probably heard of auto refinance before. Or simply refinance. The term actually refers to a financial situation wherein a borrower finds financing to pay off a current loan.
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GLOBAL MARKETS-Rate cut bets send dlr to lows, commodities soar (Reuters via Yahoo! Malaysia News)
LONDON, Oct 19 - The dollar slipped to record lows against the euro and bond prices rose on Friday on growing bets the Federal Reserve will cut rates this month.
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HIGH INTEREST RATES (The Hindu)
Credit collection Overdue accounts Cards arranged alphabetically in card index system Attach a notice of overdue account to statement. Send a letter asking for settlement of debt. Send a second or third letter if first is ineffectual. Threaten legal action.
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