NorthStar Realty Finance Declares Second Quarter Common Stock Dividend
‘Never borrow against your 401(k).’ When you borrow money from your 401(k), of course you lose the ability to invest it profitably until you pay it back. Furthermore, if you leave your job while you have a loan outstanding, you may have to pay the money back immediately or consider it as a taxable distribution. But consider this: The going rate on 401(k) loans is prime plus 1 percentage point, or 4.25 percent right now. And you pay that back to yourself. If you have some of your 401(k) invested in low-yielding bonds or guaranteed instruments and you need to borrow money for an important reason — to see you through a medical problem, for example — and you know you’ll be able to keep up the payments, it may be a better deal than an unsecured loan or credit-card debt.
“The exit of the URS moves the coalition’s axis to the left, and reduces the chances of much needed reform,” Timothy Ash, Standard Bank analyst, wrote in a note on Wednesday. In early afternoon, the dinar currency traded at 113.95 to the euro, having earlier slipped to 114.28, prompting central bank intervention, traders said. A central bank spokeswoman confirmed the intervention, and said the amount of euros sold would be announced later in the day. Data published on Wednesday showed a slowdown in the economy, which grew just 0.7 percent year-on-year in the second quarter compared with 2.1 percent in the first, according to a preliminary estimate.
Serbia avoids early election with deal to oust finance minister
The schools’ management said it ended fiscal 2013 with a $6 million deficit but expects to report a surplus of approximately $6 million in 2014 due to school closures and possible midyear budget cuts, S&P said. “The rating reflects a pledge of all state aid to be appropriated by the state of Michigan to the Detroit Public Schools starting with fiscal 2014,” the rating company said. The Detroit Public Schools enrollment could fall by as much as 33 percent, and state aid will be sufficient to cover debt service, according to S&P.
Michigan Finance Authority revenue notes rates SP-1 -S&P
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Siemens appoints finance chief Kaeser as CEO
Siemens AG has appointed longtime finance chief Joe Kaeser as its new chief executive, replacing Peter Loescher after a series of missed profit targets at the German industrial conglomerate. Siemens said its supervisory board unanimously chose the 56-year-old Kaeser on Wednesday. (AP Photo/Matthias Schrader) RELATED QUOTES 83.719 -0.481 BERLIN (AP) — Siemens appointed finance chief Joe Kaeser as its new chief executive on Wednesday, handing a manager with over 30 years’ experience at the industrial conglomerate the task of improving its fortunes after missed profit targets led to the departure of predecessor Peter Loescher. Siemens AG said its supervisory board unanimously chose the 56-year-old Kaeser, who will take office Thursday. It said a new chief financial officer will be appointed “in due course.” It added that Loescher would leave the board “by mutual agreement.” The company had said Saturday night that the supervisory board would meet Wednesday to decide on his departure a terse announcement that was followed by media reports of infighting.