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Corrections: What Twitter?s privacy move means for you |
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| A MarketWatch column on May 18 about social-media site Twitter?s adoption of a ?Do Not Track? feature gave incorrect information about which Internet ... FULL STORY |
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| Jennifer Waters's Consumer Confidential: What Twitter?s privacy move means for you |
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| Twitter is adopting a ?Do Not Track? feature that the social-media site?s users can tap to help guard their privacy. But it?s not a cure-all, writes J... FULL STORY |
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| Personal Finance Daily: How to quiet your noisy neighbors |
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| Sometimes, a landlord either can?t or won?t help tenants deal with noisy neighbors, Lew Sichelman writes in the Realty Q&A column today. What?s the so... FULL STORY |
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| Real Estate Weekly: ?Facebook effect? on Bay Area real estate |
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| Facebook?s initial public offering is having a marked effect on San Francisco Bay Area real estate, according to one mortgage banker.
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//Think Money -- When the Bank of England's Monetary Policy Committee (MPC) meeting takes place early next month, inflation will be one of the biggest issues raised.
With headline inflation rising to 3.4% in March - much higher than the 2% target rate - the Committee may be wondering whether a base rate increase is in order.
Historically, when inflation has been high, an increase in the base rate has encouraged higher levels of saving and lower spending - forcing down prices and slowing inflation.
But the Bank currently wants to encourage higher levels of lending in the economy - which is one reason why the base rate currently sits at an all-time low of 0.5%.
An increase in the rate would make wholesale borrowing (by banks) more expensive, which might discourage banks from lending, and rates offered to borrowers might also increase.
Howard Archer, economist at IHS Global Insight, said: "[…] With consumer price inflation spiking up to 3.4% in March, the possibility of an interest rate hike before the end of the year does appear to have risen."
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Credit Card Companies: Will They Fizzle or Sizzle?
As we all know, any stock associated with lending money was hammered hard during the credit crunch. Blue chip credit card companies like American Express, Bank of America, Citi, and Discover all tanked to only a few dollars. Since then, they have had a bull run. The question is if there’s still room to go up, or should you get out while you can?
Let’s take a look at the arguments for and against the credit card industry:
FOR:
Paper currency is quickly becoming a thing of the past. In developed countries, consumers increasingly prefer to pay with plastic (albeit a debit or credit card) instead of paper bills. In turn, the payment networks like Visa, MasterCard, Discover, and American Express will be benefiting from a greater volume of transaction fees.
Many consumers are opting to use credit cards simply for the rewards. Whether it’s the Starwood Preferred Guest credit card (for travel rewards) or the Citgo credit card (for gas rewards), there are now more options than ever for consumers to earn rebates for exactly what they want.
Overseas, growing economies like India, China, and the Middle East will be positive for the credit card industry. Many speculate that paying with plastic may become as popular there someday as it is in the United States. If this ends up being true, that could mean the number of credit card users will grow exponentially.
AGAINST:
The new credit card reform which is about to go into effect will cut off major revenue streams. Banks will no longer be able to depend on late fees and interest rate hikes to be their cash cows.
Over the last few years, there has been a backlash by stores, gas stations, and other merchants that feel card processing fees are too high. Many are lobbying Washington to take action and curtail these fees so they’re more affordable for businesses. If this ends up happening, that could mean less revenue for payment networks like American Express, Visa, etc.
After the collapse of the credit markets, many Americans have turned a cold shoulder to the industry. In place of credit cards, they are using debit and cash to pay for their purchases. They feel it’s a better way to manage money and avoid raking up more debt.
CONCLUSION:
There are a number of valid points on both sides of the argument. Only time will tell if credit cards will boom or bust.
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