Finance Space

People who have financial difficulty because they have accumulated too much debt may not even know that there is help available for them in the form of debt consolidation. These loans will help you pay off your debts and just have one loan to concentrate on each month. The benefit to taking out such a loan is to consolidate the debt so that you have one monthly payment, which is quite often lower than the total of monthly payments you have an all the debts separately. debt consolidation options are readily available from lenders because they see that you want to change your financial situation and have more money left in your pocket at the end of the month, and that you will be able to comfortably afford you new consolidated repayment each month.

Credit Suisse has secured regulatory approval to set up a Chinese securities joint venture, a decision expected to herald a wave of foreign investment in the sector following a two-year ban.

Over the weekend, Credit Suisse received clearance from the China Securities Regulatory Commission to establish an entity that will provide investment banking services to mainland clients.

The vehicle will be 33.3 per cent-owned by Credit Suisse, the maximum allowed, with the remainder held by its partner Founder Securities, a subsidiary of a mainland conglomerate. It is expected to begin operations later this year.

An owner can sell a house for less than its value and the lender can forgive the loss — but that’s not all.

BUYERS AND sellers who choose the short-sale option need to understand the choppy waters they’re entering, lenders and agents say.

Buyers complain, justifiably, that the wait for bank approvals of short sales — typically 60 to 90 days, but sometimes considerably longer — seems endless and the transactions often fall apart.

Sellers, on the other hand, may face tax and credit problems.

The Housing Finance rights issue payment date has been extended.

Shareholders and investors who have taken up rights in Housing Finance have been given a one week extension to make payments for new shares.

This follows an extension granted by the industry regulator to allow trading of rights at the bourse up to Friday last week.

According to the new timetable, the last day of payments has been extended from June 20 to June 27. New investors keen to own a stake in the mortgage firm have so far snapped up over 24 million rights renounced by shareholders at the Nairobi Stock Exchange.

CARACAS, June 15 (Reuters) – Venezuela’s President Hugo Chavez ended days of speculation on Sunday and named Ali Rodriguez, a trusted ally who has also served as head of state oil company PDVSA, to lead the finance ministry.

Rodriguez, who was a fighter in the Venezuelan guerrilla movement in the 1970s, is currently ambassador to close ally Cuba. He was once secretary general of OPEC and has served as foreign minister.

The process of choosing a running mate for Senator Barack Obama’s presidential campaign has suffered a setback after a key adviser quit amid controversy over his business dealings.

Jim Johnson, the former head of mortgage giant Fannie Mae, was part of a three-person panel that was looking into the backgrounds of possible vice-presidential candidates.

Choosing the right candidate is seen as key to Mr Obama’s chances of beating Republican Senator John McCain in the race for the White House.

But damaging reports, published in The Wall Street Journal, claimed Mr Johnson received private loans at below-market rates from Countrywide, another mortgage firm, which has been linked to the subprime mortgage crisis.

BANGALORE, June 12 (Reuters) – Thornburg Mortgage Inc, a specialist in jumbo home loans that nearly went bankrupt in March, posted a $3.31 billion first-quarter loss on Thursday as the value of mortgages and other securities it owns plummeted. The company said its net loss before preferred stock dividends totaled $20.64 per share, and compared with a year-earlier profit of $75 million, or 62 cents per share.

Everywhere you look you see news about the “credit crunch” and the mortgage foreclosure crisis and, if you’re like most Americans, you’re feeling the pinch too. Whether you have bills piling up, mounting credit card debt or are facing foreclosure or bankruptcy, there are solutions to help relieve the burden of your debt.

When dealing with debt problems, it’s best to get information on all your options before deciding on a specific strategy. First, consider the size of your debt. A few thousand dollars remaining on a student loan may feel overwhelming, but sticking with your payments will get you to the finish line. But people with $10,000 or more in unsecured–most commonly credit card–debt can take the guesswork out of financial difficulties by consulting with the experts.

WASHINGTON (Reuters) – U.S. Vice President Dick Cheney on Wednesday called on Congress to preserve tax cuts passed by the Bush administration, approve a free trade agreement with Colombia and drill for more domestic oil.

“We must preserve the tax cuts delivered by President George W. Bush,” Cheney said in a speech to the board of directors of the U.S. Chamber of Commerce.

Increasing taxes would hurt the economy, he said. “But that is precisely what is set to occur … In six months will be the beginning of 2009 and the year after that, the Bush tax cuts passed by Congress in our first term will expire,” he said.

You know there’s an energy crisis when Ferrari pledges to redesign its supercars to get 40% more distance out of a tank of gas. Celebrated for bombastic 12-cylinder engines that assure its place in the annual fuel-hog rankings, the Italian icon is making lighter models that also are molded to reduce aerodynamic drag. It has even built a concept car that swigs 85% ethanol.