Growth in credit card and personal loans help lift Discover Financial’s 2Q …

LOS ANGELES Discover Financial Services net income grew 7 percent in the second quarter as credit card spending and overall loans increased from a year ago. The results beat Wall Streets expectations.

The credit card issuer and lender said Tuesday that card loans and sales volume for the companys namesake card both climbed 6 percent, reflecting increased spending by its cardholders. More of those cardholders also elected to carry balances rather than pay them off, helping drive interest revenue for the company.

Personal loans jumped 26 percent, while private student loans rose 5 percent. All told, total loans jumped 7 percent in the April-June quarter.

We are achieving...

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Anglo turnaround tale gaining traction

[] ? SOME analysts are getting behind the Anglo American restructuring story believing that this time real improvements in the UK group?s performance are in the offing.

?We consider Anglo an attractive restructuring story that should ultimately reward investors as CEO, Mark Cutifani works to unlock value from the company?s resource base,? said Macquarie Research analysts, Jeff Largey and Kieran Daly.

The market tends to agree. Shares in Anglo American are up 40% over the last 12 months ? 30% since the beginning of the year – which is way better than the 17% and 18% one-year return in the shares of Rio Tinto and BHP Billiton respectively.

Ever since...

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Home as a piggybank? Not yet

Housing prices are back, jobs are growing fast and interest rates remain low. That’s usually a good combination for tapping home equity.

Still, homeowners aren’t rushing for the dollars yet.

The value of home equity loans has declined every quarter for the last five years. At the end of March, outstanding loans in the US were 25 percent lower than the 2008 peak.

And Texas banks reported a deeper decline, according to data from the Federal Deposit Insurance Corp.

But one large Dallas lender, Comerica Bank, said Texans are flocking to its home equity products. Others are ramping up efforts and betting the niche will improve soon.

The Dallas metro...

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Current Mortgage Rates Today: Chase Home Loans and Refinance Mortgage …

Select mortgage loans now carry slightly lower interest rates at major US lender, Chase (NYSE:JPM) on Friday, July 18, according to the latest data from the bank. Looking at long-term home loans, the 30-year FRM is quoted at a rate of 4.125% at Chase on Friday. Borrowers, who decide to opt for the 15-year home purchase loan, can expect to pay 3.250% interest cost. Additional home loan offerings include the 7/1 ARM, which can be secured today at a rate of 3.375%. Another flexible mortgage, the 5-year ARM comes with an interest rate of 3.250%, according to the lender’s updated loan information.

Shifting to the financial institution’s latest refinance loan solutions,...

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Banks and Thrifts with the Largest Portfolios of Home Equity Loans

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New World Resources Sees More Bondholders Accept Restructuring Plans

LONDON (Alliance News) – New World Resources PLC Tuesday said that by July 11 it had received executed lock-up agreements from 84% of its senior secured notes and 65% of the notes by value in support of its plans for balance sheet restructuring to avoid bankruptcy.

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Smash the Regulatory State from Within

The rise of the regulatory state is not something conservatives need to make peace with, nor should they accept the role that unaccountable bureaucrats are increasingly playing in American governance. But they should also understand that working within that system while working to dismantle aspects of it are not mutually exclusive activities.

With all the talk of reform conservatism, this is a more limited variant of the ambitious reform efforts gaining momentum. There are two categories of such reform, and the abuse-of-power scandals proliferating throughout the Obama administration’s bureaucratic power agencies make it all the more necessary to realize the opportunity they present...

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What it Takes to Borrow Against Home Equity

Breaking into the home equity nest egg is becoming a very real possibility for more Americans as home prices rise. But raiding the house bank is not as easy as it was before the recession, and not everyone meets the requirements to borrow from home equity.

Consumers must have a trifecta of enough equity, a high credit score and a healthy relationship between their debt and income to take money out of their house via a cash-out refinance, home equity loan or home equity line of credit, also called a HELOC.

Home Equity Loan

A second mortgage for a fixed amount, at a fixed interest rate, to be repaid over a set period.

Home Equity Line of Credit (HELOC)

A second...

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Current Mortgage Rates Today: 30-Year Conventional Loans and 15-Year FHA …

Select mortgages are currently offered at slightly higher interest rates at US lender, Quicken Loans, compared to last week’s rate levels. As far as the lender’s conventional refinance loans are concerned, the long-term, 30-year fixed mortgage is published at a rate of 4.125% this mid-week. The annual percentage rate (APR) on this type of loan inched up to 4.389% from the previous 4.345% that it held before. The shorter, 15-year conventional loan for home refinancing is available today at a rate of 3.25%. This is a tad higher mortgage rate compared to its formers rate level (3.125%) from last week. The loan’s annual percentage rate is coming out at 3.688%.


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MP Bruce Flegg distances himself from Gerard Baden-Clay, saying he had no …

MISTRESS: How much was she paid for interview?

EVIDENCE: What Baden-Clay didnt want a jury to hear

MARRIAGE: Gerard a control freak who was cruel

The trial heard Baden-Clay begged to borrow hundreds of thousands of dollars from Dr Flegg on separate occasions in 2011 and 2012 in a desperate bid to avoid bankruptcy, but was refused.

The two lived in the same suburb, with Dr Flegg dealing with Baden-Clays real estate agency to handle some of his property affairs, although not with him personally.

But he, like many others, caught no glimpse of the violent...

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