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Economy & Finances

New mortgage rules to be properly enforced EU-wide

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“For most families, a mortgage is the biggest and longest financial commitment they make. So we need these rules to drive progress towards an EU-wide mortgage market that is stable, integrated, and above all sustainable, with a high level of consumer protection, good information and balanced relations between lenders and borrowers”, said lead MEP Antolin Sanchez Presedo (S&D, ES). MEPs endorsed the deal struck with EU member states because they are satisfied that the European Banking Authority will be able to investigate an alleged breac... Read More »

President Barroso at the European Council: 2013 A breakthrough year for EU economy

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Speaking at the final press conference following the European Council meeting in Brussels on 19-20 December, President Barroso said: "The euro is no longer in danger. Reforms are taking hold and this is slowly being felt by our citizens, the markets and our international partners. Yes, we have still very important problems - unemployment remains at an unacceptable level and we need to keep up the pressure to deliver growth measures – but the general economic situation is clearly improving. Europe is acting, Europe is working." Banking Union ... Read More »

UK: December sees a further one point drop in consumer confidence

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Nick Moon, Managing Director of Social Research at GfK, comments: “Although a single point move is not statistically significant, what matters is that the Index has fallen for three months in a row, and we can say there is a downwards trend. It is not nearly enough to negate the massive gains made from April to September, and at -13 the Index is still 14 points higher than in the first quarter. With no media coverage of bad economic news – and indeed continuing coverage of good news – the explanation for the last quarter of declining confide... Read More »

UK: Aviva commits £500 million to invest in UK infrastructure

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Aviva’s allocation today is the first tranche of the wider insurance industry’s commitment to invest £25 billion in UK infrastructure in the next five years. Aviva expects to allocate new funding for debt financing of UK infrastructure projects in a range of sectors including transport, utilities, hospitals and schools. The funds to support this investment are available immediately, are in addition to Aviva’s existing level of infrastructure investments, and Aviva is already evaluating a number of potential investment opportunities. Aviva... Read More »

Small Business Collateral Loan in Texas

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Starting a small business in today’s tough economic times is certainly no small achievement. To ease the burden on your wallet, NextPawn provides you with small business collateral loan combined with an adequate level of reliability. NextPawn is an online collateral loan lender vigorously committed to helping the residents of Texas start a small business of their own. Since the establishment, the aim of NextPawn has been to provide short term asset based loan to meet the needs of various families and individuals across Texas. It is the dedicat... Read More »

ING and Dutch State complete agreement for unwinding of IABF

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The Dutch State has started the process to divest the securities in the IABF-portfolio. Proceeds will be used to pay off the remaining loan from ING and are, as announced on 1 November 2013, expected to leave a direct cash profit for the State. Announcements on the auction process or actual transactions will be made by the Dutch State Treasury Agency. The agreement has been approved by the European Commission. The unwinding of the IABF has no material impact on ING’s results but is expected to have a positive impact of approximately 10 basis... Read More »

MasterPass Digital Payment Platform launches in Italy

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Retailers on board include: Mediaworld, Trenitalia and Vodafone Banca Sella makes the service available to 3,500 online retailers, among them Aruba BNL, BNP Paribas Group bank pilots readiness for launch early in 2014 With a population of 14 million online buyers, and purchases using mobile devices (smartphones or tablets) up by 255% in 2013 to EUR 510 million[1], the Italian market is experiencing steady e-Commerce and importantly m-Commerce growth which makes it ripe for an innovation like MasterPass. With MasterPass, consumers, don’t ... Read More »

MasterCard introduces Payroll Card Standards

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The payroll card standards require employers and payroll card providers to offer cardholders greater insight on how to access their pay through educational resources and increased transparency of any fees. Additionally, the standards ensure the employee has a fee-free way to access their pay and check available balances. “Payroll cards serve as one way to bring the traditionally underserved into the financial mainstream,” said Ron Hynes, group executive, Global Prepaid Solutions, MasterCard. “These standards will help ensure that employees n... Read More »

World leading parking provider, Vinci Park, ensures its migration to SEPA with Worldline’s expertise

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Vinci Park selected Worldline for its flow management capability and the extensive functional coverage of its SEPA solution "Payment Suite", for simplified adoption of SEPA instruments: Limited impact on tools and on processes Simplified migration of existing mandates Re-use of existing payment files Fast implementation As a partner, Worldline is able to offer several remote and POS electronic mandate signature solutions and meets European certification requirements at the highest level. These solutions can be adapted to client jou... Read More »

Europe’s banks need €110 billion to keep credit ratings

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The report comes just weeks before the European Central Bank will begin its 'stress tests' of Europe's banks in early 2014 to assess how robust their capital positions are. Credit ratings dictate how easily a bank can borrow on the financial markets. "Banks' capital generation and positions relative to regulatory requirements diverge widely, and our analysis also reveals significant differences in the quality of capital among the top 50 European banks," said the agency. Meanwhile, banks in Portugal, Italy, Spain, Greece and Ireland, accou... Read More »

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