What is GDP? And more importantly, what is it not?
Is our love affair with GDP coming to an end? If you were following this year’s Annual Meeting in Davos, you’d be forgiven for thinking that this is indeed the case. In three separate sessions, two giants of the financial world and one leading academic were all in agreement: gross domestic product – the estimate of the total value of goods and services a country produces – is up for review. #finance
Less Job opportunities after payroll came in below expectations
The U.S. stock index futures plunged on Good Friday after the payrolls came in below expectation at 126,000. The U.S. added 126,000 jobs in March, the lowest since 2013 and below Reuter’s expectations of 245,000 payrolls. The unemployment rate has remained steady and wages have increased more than 0.3 percent. Naeem Aslam, Chief Market analysis at AvaTrade said, investors are dialing back on the rate hike expectations. http://www.cnbc.com/id/102559429 #finance
Morgan Stanley boosts CEO pay to $16 billion in 2014- filing
(Photo Courtesy of:Yahoo) Morgan Stanley's board raised Chairman and Chief Executive James Gorman's compensation for one-third last year. He was awarded $16 million last year, up from $12 million in 2013. He can receive up to $6.5 million over the next three years if he meets performance targets. Colm Kelleher, a business executive under Gorman, also received a special $2 million bonus last year for his continued contributions and commitment to the company. http://finance.yah
JP Morgan Chase pays billions to homeowners as part of Settlement
(Photo Courtersy of: Housingwire) JPMorgan Chase and Co. is paying billions of dollars in consumer relief to struggling homeowners as part of a settlement it reached. The relief comes in the form of mortgage forgiveness, re-financing, and disaster area lending. JPMorgan Chase so far has provided $2,245,673,500 in consumer relief credit to 111,924 borrowers through Sept. 30, 2014 as part of its $13 billion agreement. The bank may meet its goal before the deadline. Chase must p
Legendary is in talks to raise $700 million Debt Finance
(Photo Courtersy of: http://variety.com) Legendary has a $600 million credit facility from JPMorgan Chase and Bank of America which expires in 2016 and is seeking to replace that credit line. According to Bloomberg News, they are in discussion with the two financial institutions. The replacement funding could expand up to $700 million. http://variety.com/2015/biz/finance/legendary-in-talks-to-raise-700-million-debt-finance-1201465912/ #finance
New Global Fund will Support Sustainable Banking
(Photo Courtesy of: veracityamg.wordpress) The Global Alliance for banking on values has launched and investment fund that will support the growth of small financial institutions. 21 investors have committed a total of $40. 4 million. The Sustainability, Finance, Real Economics Fund is aiming to have a second fund raiser later this year. http://www.bankingday.com/nl06_news_selected.php?act=2&stream=1&selkey=18341&hlc=2&hlw= #finance #sustainability
Citigroup Lends $100 billion for Sustainable Finance
Citigroup is investing $100 billion in energy efficiency financing over the next ten years. Citi plans on expanding to other sectors like transportation, to cut out greenhouse gas emissions. They want to help communities adapt to climate change by financing infrastructure improvements that manage waste better, increase access to clean water, and give access to affordable housing to moderate-income families. Citi also has internal environmental goals for 2020 after meeting 201
Hannon Armstrong Sustainable Infrastructure Capital (HASI) hits new 52-week High
(Picture Credit: HASI) HASI hit a new 52-week high of $17.84 on March 5th, a notable milestone for any company. Some view a company hitting its highest price in a year as a sign of momentum and think it's time to buy in, while others interpret it as the end of a strong run with the stock peaking out before a period of decline. HASI is a specialty finance company providing debt and equity financing for infrastructure projects and is also a component of the Russell 2000 index.
THE FEDERAL SMALL BUSINESS MISSED THEIR OWN GOAL
The Federal Small Business missed their goal for processing Hurricane Sandy loan applications. After the Hurricane Sandy in October 2012, people who were affected by Sandy Storm had to wait 45 days to make the requests for the damage and 38 days to apply for economic losses. After a report by the accountability office, they found that the agency was not prepared to receive the storm requests. www.nydalinews.com #finance
Falling oil prices
This past Monday (1/05), the Dow Jones Industrial average fell by 331.34 points, while the Nasdaq composite fell by 74.24 points, as falling oil prices have continued to affect financial markets. As a result, investors are concerned about the market situation. However, most analysts and economists have stated that a decline in oil price will boost the economy due to energy cost reductions for industrial companies, while consumers will save money to use on consumer goods. On t
