| Bendigo, Adelaide banks to merge
BENDIGO Bank and Adelaide Bank plan to merge, creating a $4 billion regional financial giant. The plan has been unanimously approved by directors of both banks. The new entity will be called Bendigo and Adelaide Bank and will have loans under management of more than $43 billion and funds under management and advice of about $7 billion. Bendigo Bank is offering Adelaide Bank shareholders 1.075 of its shares for every Adelaide Bank share. Adelaide Bank chairman Adele Lloyd said the two banks had developed distinctive but complementary strategies and were leaders in regional banking. Adelaide Bank partners with a range of distribution partners as a specialist wholesale finance provider, while Bendigo Bank is a service-focused retail bank, renowned for partnering with communities. "Both banks are committed to high levels of stakeholder engagement, understanding that it is the success and prosperity of their partners and customers which drive their own success," Dr Lloyd said.
PLUS Loans From NextStudent Can Give Parents a Way to Help Their Children Pay for College
As parents of undergraduates review financial aid award packages for the upcoming school year, they may realize they might need a little help meeting their expected family contribution. Or some parents may have children who didn't receive any financial aid at all. When parents of undergraduates need a financial boost in order to help their children pay their unmet college expenses, a Federal PLUS Loan may be the solution they're looking for, says NextStudent, a leading Phoenix-based education funding company. PLUS loans (Parent Loans for Undergraduate Students) are non-need-based federal education loans designed to help creditworthy parents meet their undergraduate child's educational expenses. Since PLUS loans aren't awarded based on financial need, eligible parents, regardless of their income or assets, can qualify for PLUS aid.
Gafisa Reports Strong Second Quarter Results
SAO PAULO, Brazil, Aug. 6 /PRNewswire-FirstCall/ -- Gafisa S.A. (Nachrichten) (Bovespa: GFSA3; NYSE: GFA), Brazil's leading diversified national homebuilder, today reported its financial results for the second quarter ended June 30th, 2007 (2Q07). The following financial and operating information, unless otherwise indicated, was prepared and presented in accordance with Brazilian GAAP (BR GAAP) and in Brazilian Reais (R$). Additionally, financial statements and operating information consolidate the numbers for Gafisa and its subsidiaries, and refer to Gafisa's stake (or participation) in its developments. To view a more detailed review of second quarter results filed with the Brazilian Comissao de Valores Mobiliarios ("CVM") and the U.S. Securities and Exchange Commission ("SEC"), please visit Gafisa's website http://www.gafisa.com.br/ir.
Stalin's Arctic mines help expansion
Wearing fireproof coveralls, Ilya Dmitriyev plods past a smelter that belches smoke and gushes molten metal, the chief product of this gritty patch of Arctic tundra where the air tastes of sulfur and concrete apartment blocks crumble on the shifting permafrost. .
Around the region
The Federal Home Loan Banks of Dallas and Chicago said Wednesday they are considering merging their operations. The banks are cooperatives owned by member financial institutions in their areas. They are part of a national system of 12 banks that make low-cost loans to local lenders, allowing them to make loans for housing and community development. The Federal Home Loan Bank of Dallas has assets of $53.3 billion and more than 900 member institutions in Texas, Arkansas, Louisiana, Mississippi and New Mexico. The Chicago bank includes more than 850 institutions in Illinois and Wisconsin. It has assets of $87 billion. SHIPPING Berkshire Hathaway raises stake in railroadBillionaire investor Warren Buffett's Berkshire Hathaway boosted its stake in Burlington Northern Santa Fe Corp., the second-largest U.S.
Tefron Reports Second Quarter 2007 Results
- Second Quarter Revenues Were $40.6 Million, 18.3% Below Revenues of the Second Quarter of 2006.
- Cash Flow From Operations was $2.2 Million, Leading to a Net Cash Position of $4.2 Million at the end of the Quarter.
- Operating Income for the Quarter was $1.0 Million.
- Fully Diluted EPS From Continuing Operations was $0.04 in the Quarter, Compared With $0.21 in the Second Quarter of 2006.
Tefron Ltd. (Nachrichten), a leading producer of seamless intimate apparel and engineered-for-performance (EFPTM) active wear, today announced financial results for the second quarter of 2007.
As announced on April 27, 2006, Tefron closed the sale of its ownership interest in AlbaHealth. Accordingly, the financial statements of AlbaHealth are accounted for as discontinued operations, and the financial results described below do not include the financial results of AlbaHealth.
Pay Off Your Student Loans the Smart Way
(ARA) - Your education is the key to launching your future. After you enter the professional world you leave the college years behind to focus on your career goals. But one thing most people can't leave behind are student loans. Don't let this burden continue to weigh you down, make student loan consolidation a priority on your list of New Years resolutions.New federal rules allow the consolidation of student loans only once unless new loans are taken out. When you consolidate you can lock into a fixed interest rate that can never increase. Additionally, consolidation can reduce monthly payments that you have by as much as 60 percent. Lender discounts can lower your rate even further. If you are a new graduate and are still in your grace period, don't wait because even lower rates are available.
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