ADVISORY, June 19, 2012 (GLOBE NEWSWIRE) --
What:
Marine Money International, on the occasion of its 25th anniversary, will visit the NASDAQ MarketSite in Times Square. They will be joined by shipping executives from around the world many of whom are NASDAQ listed. Also joining the Marine Money celebration, will be members of Young Shipping Professionals New York (YSP NY).
In honor of the occasion, Jim Lawrence, Chairman, will ring the Closing Bell.
Where:
NASDAQ MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio
When:
Wednesday, June 20, 2012 – 3:45 p.m. to 4:00 p.m. ET
Contact:
Lorraine Parsons
(203) 406-0106 ext 3717
NASDAQ MarketSite:
Jen Knapp
(212) 401-8916
Feed Information:
Fiber Line (Encompass Waterfront): 4463
Gal 3C/06C 95.05 degrees West
18 mhz Lower
DL 3811 Vertical
FEC 3/4
SR 13.235
DR 18.295411
MOD 4:2:0
DVBS QPSK
Facebook and Twitter:
For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at: http://www.facebook.com/#!/NASDAQ .
For news tweets, please visit our Twitter page at: http://twitter.com/nasdaqomx
Webcast:
A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx .
Photos:
To obtain a hi-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.
About Marine Money:
Relied upon by ship-owners, financiers, investors, ship managers, brokers, lawyers and accountants for 25 years, Marine Money International has bridged the gap between ship-owners and the international capital markets.Through our publications, forums, and consulting services, Marine Money examines transactions and deals with an eye for those trends and avenues which can assist companies and their financiers build stronger balance sheets, control costs of capital and build value through economic cycles. Learn more at: www.marinemoney.com
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com . Follow us on Facebook ( http://www.facebook.com/NASDAQ ) and Twitter ( http://www.twitter.com/nasdaqomx ). (Symbol: NDAQ and member of S&P 500)
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MONEY MARKETS-Banks' borrowing at ECB rises as Spain stress grows - Reuters
* Banks increase borrowing at ECB's seven-day tender
* Rise in demand reflects growing Spanish stress
* Growing ECB rate cut speculation seen weighing on Euribor
LONDON, June 19 (Reuters) - Bank borrowing from the European Central Bank rose on Tuesday as turmoil in the euro zone government bond markets pushed more banks to take up the ECB's regular offering of seven-day loans.
Demand for the funds, currently used largely by banks who can no longer borrow money affordably elsewhere, rose by 36 billion euros to 167 billion euros. The number of banks bidding at the auction rose to 101 from 94.
"The rise in the number of bidders points to signs of new stress. I would say Spanish names are behind that," said Matteo Regesta, strategist at BNP Paribas in London.
Spain has become the focus of the euro zone debt crisis over the last week after a bank rescue plan worth up to 100 billion euros failed to win market confidence and propelled 10-year bond yields above the 7 percent danger level.
Spanish banks have suffered huge losses on souring portfolios of property loans and most have been frozen out of the interbank market where banks borrow money to lend on at a profit. Data released on Monday showed Spanish banks' bad loans hit their highest since April 1994.
The increase in seven-day borrowing may herald rising market stress but is unlikely to have a major impact on money market rates, which have been pushed to rock-bottom levels by the huge amount of excess liquidity in the system.
Banks' total borrowing from the ECB is 777 billion euros more than their estimated needs, according to Reuters data , with most locked into long-term loans offered by the ECB in December and February to calm a previous bout of stress.
That excess of liquidity, along with growing speculation that the ECB may cut interest rates to boost the region's flagging economy, saw the benchmark interbank Euribor rate fall for a third successive session, to 0.657 percent.
The equivalent Libor rate, set by a smaller panel of banks based in London, also fell to a new record low at 0.56557 percent.
The prospect of cuts to the ECB's deposit and refinancing rates, boosted by recent comments from ECB policymakers, was the main factor driving rates lower, analysts said.
Barclays Capital analysts revised their ECB rate outlook to forecast a 50 basis point cut in the refinancing rate, to 0.5 percent, and a fall in the deposit rate to zero from 0.25 percent.
"In a scenario of the refi rate at 50 (basis points) and the deposit facility at zero, we would expect EONIA to fix at 10-15 bps in the reserve period, with three-month Euribor likely to decline to 40-45 bps," the bank said in a note.
The Eonia overnight rate fixed at 0.334 percent on Monday.
Children's breakfast club director, 31, stole £6,000 from parents so she could spend the money on wine and meals out - Daily Mail
- Mother-of-four Michela Golden escapes jail after admitting theft
- Kids@Play - which ran before and after school clubs - was forced to shut after the thefts
- Golden, 31, was given a company bank card after she offered to take control of the company's finances
- An audit revealed she had stolen 6,000 over a year and she was arrested
By Rob Cooper
|
Thief: Mother-of-four Michela Golden, 31, admitted taking 6,000 from the childcare company and escaped jail
A director of a children's breakfast club stole 6,000 and spent the money on wine and paying for meals out for herself, a court heard.
Mother-of-four Michela Golden, 31, took the funds from a not-for-profit childcare company to buy alcohol, clothes, fuel and pay for food.
The cash, which was stolen over the course of a year, had been given by parents to pay for children's clubs in Rossendale, Lancashire.
When questioned, Golden denied she had taken the money and instead said the founder of Kids@Play Child Care must be responsible, Burnley Crown Court heard.
The company, which ran before and after school sessions, was forced to close after the thefts which happened and eight members of staff lost their jobs.
Golden, who admitted two counts of theft, escaped jail and was given a 10 month suspended sentence when she appeared before the court.
Kids@Play was set-up in 2008 to provide childcare outside school hours and had initially received funding grants from bodies such as Sure Start.
Nicholas Courtney, prosecuting, said the thefts started in July 2009 and went on for a year.
Golden took control of the company's finances at her own suggestion after they opened a second site in Newchurch, near Rossendale in September 2009.
She was issued with a company bank card so she could make purchases on their behalf.
But Lindsey Foster, the company's founder, noticed a series of unusual transactions when she looked at the bank statements in April 2010.
She also noticed that some of the money parents had given never turned up in their account.
A full audit was carried out before Golden was arrested and suspended.
When police searched her home in June last year they found paperwork which said the mother had several thousands of pounds in debts and her mortgage and council tax was in arrears.
Mr Courtney said that Golden, from Bacup, Lancashire, blamed the company's founder for the missing money.
Child care: Kids@Play ran before and after school classes for children in Rossendale, Lancashire
He said: 'She suggested Lindsey Foster may be responsible for missing funds, saying she seemed to be living an extravagant lifestyle at the time.
'Lindsey Foster was very upset by that suggestion, which it seems was made not just to the police in interview, but to various other people.'
In mitigation Bob Elias, defending, said the defendant's marriage had failed.
He said: 'She has issues both as to her younger years and marriage and possibly alcohol, which would benefit from engaging with a trained individual.'
Sentencing, Judge Jonathan Gibson said: 'This was, of course, mean offending. I accept it was to fund household expenditure, at least to a significant extent and it’s right to say there was evidence, when police came to investigate you, of a significant quantity of debt.
'I also accept you had difficulties with an abusive relationship. It’s particularly troubling a great deal of the money appears to have been spent on alcohol.'
The judge gave her a suspended sentence and ordered her to carry out 150 hours unpaid work. She was also given a 12 month supervision order.
Most Brits Save Money Through Discounts and Vouchers - msnbc.com
LONDON, UNITED KINGDOM — Household budgets continue to be stretched and Brits are increasingly looking to make their money go further. Latest research(i) from Nationwide Building Society has found that four out of five people collect coupons and money off vouchers, with around three quarters (72%) making purchase decisions based on where they will receive a discount.
Despite being stereotyped as being reserved, the tough economic climate has meant that Brits need to save money where they can and 92% of those surveyed said they would not be embarrassed about using a discount voucher in public.
The most popular use for discount vouchers is for meals out (20%), with around three quarters (75%) saying that they would make a decision on eating out or a day out based on where they could get a discount.
Nationwide has responded to customer preferences by delivering a reward scheme for its loyal debit and credit card customers through Simply Rewards, a reward scheme providing savings on major brands.
Some examples of the deals on offer:
-- Gourmet Society - Discount dining card -- Holiday Inn - 35% off best flexible rates -- Lastminute.com - Discounts off hotels and flights
Other discounts from providers such as Butlins, The Body Shop, Eat, Foot Locker, Kwik Fit, aka Promotions (West End Theatre) and Virgin Holidays will also be available at the Simply Rewards website.
John Crossley, Nationwide's head of current accounts, said: "Household bills continue to rise, but people's wages aren't rising at the same rate. In many households, saving money has become a necessity and shopping around to find a discount or money off voucher has become the norm.
"Nationwide is committed to helping its credit and debit card customers save money where they can by offering them the chance to get discounts on top brands through Simply Rewards.
"Customers who hold their main current account with the Society also benefit from free European travel insurance as well as discounted loans, home insurance and exclusive mortgage and savings offers."
Notes to editors:
-- Further details of terms and conditions are available on request -- The Simply Rewards scheme is enabled by Visa Europe's loyalty platform
(i) Research conducted by Atomik Research during 11-13 May 2012 on a representative sample of 1,012 respondants.
Travel insurance is available to both single and joint FlexAccount customers and will provide comprehensive European travel insurance for those who use the FlexAccount as their main (see below) current account and must be aged 73 or under at the point your account transfer is complete.
The European travel insurance offered with the FlexAccount is underwritten by UKI.
To qualify you must hold a current account with a Visa debit card (not cash card+), and:
- Have been paying in GBP 750+ (excluding internal transfers) a month for the last three months; or - Complete an account transfer to us (from a non-Nationwide account) using our Account Transfer Service.
To maintain Travel Insurance cover you must pay in GBP 750+ each month.
About Nationwide
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.
Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the full year ending April 2012 Nationwide made a strong underlying profit of GBP 304 million - up 10% from the previous year.
Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.
© Marketwire 2012
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