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RBS: Sir Mervyn King suggests splitting up bank

Escrito por: annettabm8ok el 06 Mar 2013 - URL Permanente

Bank of England governor Sir Mervyn King has said there is a case for splitting up Royal Bank of Scotland.

He told the Banking Standards Commission that there was a "good bank, bad bank" within bailed-out RBS.

Sir Mervyn said the arguments for restructuring RBS "sooner rather than later are powerful ones".

He also warned that some banks were still "too big to fail" and said he was "surprised" at the degree of access bank executives had to top politicians.

On RBS, Sir Mervyn said: "The whole idea of a bank being 82%-owned by the taxpayer, run at arms' length from the government, is a nonsense. It cannot make any sense.

"I think it would be much better to accept that it should have been a temporary period of ownership only, to restructure the bank and put it back. The longer this has gone on the more difficult that's become" to return RBS to the market.

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Microsoft fined by European Commission over web browser

Escrito por: annettabm8ok el 06 Mar 2013 - URL Permanente

Microsoft has been fined 561 million euros ($731m; £484m) for failing to promote a range of web browsers, rather than just Internet Explorer, to users in the European Union (EU).

It introduced a Browser Choice Screen pop-up in March 2010 as part of a settlement following an earlier EU competition investigation.

But the US company dropped the feature in a Windows 7 update in February 2011.

Microsoft said the omission had been the result of a "technical error".

But competition commissioner Joaquin Almunia said the action was unprecedented, adding he wanted to deter any company from the "temptation" of reneging on such a promise.

In theory the watchdog could have fined the firm 10% of its global annual revenue, which would have totalled $7.4bn based on its 2012 report.

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Egypt court suspends April general elections

Escrito por: annettabm8ok el 06 Mar 2013 - URL Permanente

An Egyptian administrative court has suspended general elections that were scheduled to begin next month.

It said the electoral law needed to be reviewed by the Supreme Constitutional Court to determine whether it conformed to the constitution.

President Mohammed Morsi had said the polls would begin on 22 April, taking place in four stages over two months.

The elections have been boycotted by the main opposition, amid continuing street protests.

The National Salvation Front (NSF) has said the electoral law favours Mr Morsi's Islamist allies - a claim denied by the president.

The NSF has also expressed concerns that the election will not be free and fair.

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Hackers attack Microsoft computers

Escrito por: annettabm8ok el 23 Feb 2013 - URL Permanente

Microsoft has become the latest US technology company to confirm that it has been targeted by computer hackers.

In a blog post, Microsoft announced that "a small number" of its computers had recently been deliberately infected with malicious software.

The firm said it found no evidence that any customer data had been accessed, but an investigation is continuing.

On Tuesday Apple said its computers were attacked by the same hackers who targeted Facebook a week earlier.

At the time, Facebook said it had traced a cyber attack back to China which had infiltrated employees' laptops.

In Friday's blog post, Microsoft spokesman Matt Thomlinson said: "This type of cyberattack is no surprise to Microsoft and other companies that must grapple with determined and persistent adversaries."

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F-35 fighter jet fleet grounded by Pentagon

Escrito por: annettabm8ok el 23 Feb 2013 - URL Permanente

The US has grounded its entire fleet of 51 F-35 fighter jets after the discovery of a cracked engine blade.

The fault was detected during a routine inspection of an air force version of the jet (F-35A) at Edwards Air Force Base in California, said the Pentagon.

Different versions are flown by the navy and the marine corps. All have been grounded.

The F-35 is the Pentagon's most expensive weapons programme. with a cost of nearly $400bn (£260bn).

The Pentagon said flight operations would remain suspended until the root cause is established.

Friday's order was the second time in two months planes from the F-35 range have been grounded.

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UK loses top AAA credit rating for first time since 1978

Escrito por: annettabm8ok el 23 Feb 2013 - URL Permanente

The UK has lost its top AAA credit rating for the first time since 1978 on expectations that growth will "remain sluggish over the next few years".

The ratings agency Moody's became the first to cut the UK from its highest rating, to Aa1.

Moody's said the government's debt reduction programme faced significant "challenges" ahead.

Chancellor George Osborne said the decision was "a stark reminder of the debt problems facing our country".

"Far from weakening our resolve to deliver our economic recovery plan, this decision redoubles it," he added. "We will go on delivering the plan that has cut the deficit by a quarter."

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Eurozone interest rates kept on hold at 0.75%

Escrito por: annettabm8ok el 07 Feb 2013 - URL Permanente

The European Central Bank (ECB) has left eurozone interest rates unchanged at 0.75%, as had been widely expected.
Many analysts do not expect the ECB to alter rates from their current record low until next year at the earliest.
ECB president Mario Draghi told a news conference that business confidence was returning, but the situation "remains fragile".
The last time the ECB made a change to its main interest rate was in July, when it was cut from 1%.

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Black family claims Disney’s White Rabbit character refused to touch their kids

Escrito por: annettabm8ok el 07 Feb 2013 - URL Permanente

Could an actor playing the White Rabbit be racist?
Disneyland is being sued by Jason and Amelia Black, who say their African-American children were treated differently than white kids who approached the “Alice in Wonderland” character for hugs and pictures at the Anaheim, Calif., amusement park.
According to Fox5SanDiego.com, 6-year-old Jason Black Jr. approached his favorite character at the park, but was rebuffed. Jason told the station, “I went to hug him, but he turned his back. It’s made me feel sad because I wanted to really hug him.”
Older brother Elijah reportedly then tried to hold the rabbit’s hand, but was pushed away. At first, Jason Black Sr. thought perhaps a new “no touch” policy had been implemented in the park, until he observed the same character hugging the white children who approached him around the same time.

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How to get rid of private mortgage insurance

Escrito por: annettabm8ok el 07 Feb 2013 - URL Permanente

If you put down less than 20 percent when you purchased a home, you probably pay for mortgage insurance every month. But with planning and patience, you can get rid of mortgage insurance to reduce your house payments.

Mortgage insurance is designed to protect the lender in case the borrower defaults. The premium is included in the borrower's monthly mortgage bill and varies depending on the type and size of the loan, the down payment amount and the credit of the borrower.

For instance, a buyer with a credit score of 700, who makes a 5 percent down payment and takes out a $200,000 conventional mortgage, should expect to pay about $156 per month in mortgage insurance, says Matt Hackett, operations manager at Equity Now, a mortgage bank in New York City.

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How and why your 401(k) is changing

Escrito por: annettabm8ok el 07 Feb 2013 - URL Permanente

Employers are getting smarter about how they run retirement plans. They are making some moves that are good for younger workers, including automatically enrolling new employees in 401(k) plans and defaulting their savings into target-date funds, which offer an investment mix designed to meet retirement goals.

Other choices are raising eyebrows, including International Business Machine's decision to make its 401(k) matching contribution only once a year.

David Huntley, principal at HR Consultants in Baltimore and publisher of "The 401(k) Averages Book" talks about these and other trends.

Q. What's the latest and greatest in the world of 401(k)s?

A. I'm so encouraged by the number of young people who are contributing to the max in their 401(k) plans. Every young person I talk to - teachers, coaches, engineers, Wall Street types - says they are maxing out in their retirement plans. That's never happened before.

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gsecisdkefkw

RBS: Sir Mervyn King suggests splitting up bank

Microsoft fined by European Commission over web browser

Egypt court suspends April general elections

Hackers attack Microsoft computers

F-35 fighter jet fleet grounded by Pentagon

UK loses top AAA credit rating for first time since 1978

Eurozone interest rates kept on hold at 0.75%

Black family claims Disney’s White Rabbit character refused to touch their kids

How to get rid of private mortgage insurance

How and why your 401(k) is changing

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