Amazon Plans iPad Rival | Penny Stocks to Watch

Amazon Plans iPad Rival

Amazon.com Inc. plans to introduce a tablet computer before October, said people familiar with the matter, in a move that will heighten the online retailer’s rivalry with Apple Inc.

The Seattle-based company will also release two updated versions of its popular Kindle electronic reader in the third quarter of the year, the people said. One will be a touch-screen device. The other won’t have a touch screen, but will be an improved and cheaper adaptation of the current Kindle, said people who have seen the device.

An Amazon spokesman didn’t return requests for comment. The company’s chief executive, Jeff Bezos, has hinted about a forthcoming tablet in recent media appearances.

The new tablet will intensify a growing clash between Amazon and Apple. The two tech-industry titans are already fighting for customers for their respective digital book, music and video businesses. Now Amazon will have a device that will compete closely against Apple’s popular iPad, as well as other tablets such as Samsung Electronic Co.’s Galaxy Tab.

The Amazon tablet will have a roughly nine-inch screen, people familiar with the product said, and will run on Google Inc.’s Android operating system. The online retailer isn’t designing the device itself, but is outsourcing production to an Asian manufacturer, these people said. penny stocks questrade

The device will not have a camera, said one person familiar with it.

The tablet will allow Amazon customers to easily watch videos, read electronic books and listen to digital music they purchase or rent from the online retailer.

The two new black-and-white Kindle electronic readers will use the same technology as in the previous Kindles, in which the screens mimic the appearance of ink on paper. The touch-screen version will compete against similar devices that two other e-reader makers, Barnes & Noble Inc. and Kobo Inc., released in May.

Amazon on Wednesday also lowered the price of its current Kindle. The version with 3G Internet access now costs $139, down from $164, but it comes with ads sponsored by AT&T Inc. The cost of the ad-free version remains at $189.

Amazon has said the Kindle is its best-selling product of all time, but it hasn’t released sales figures. Forrester Research analyst James McQuivey said there are about 7.5 million Kindles in the U.S., which gives Amazon a two-thirds share of the $1 billion digital-book market.

Tags: apple, research

Cyber attacks threaten global oil supply

Cyber attacks threaten global oil supply

By Daniel Fineren

DOHA – Hackers are bombarding the world’s computer controlled energy sector, conducting industrial espionage and threatening potential global havoc through oil supply disruption.

Oil company executives warned that attacks were becoming more frequent and more carefully planned.

“If anybody gets into the area where you can control opening and closing of valves, or release valves, you can imagine what happens,� said Ludolf Luehmann, an IT manager at Shell Europe’s biggest company .

“It will cost lives and it will cost production, it will cost money, cause fires and cause loss of containment, environmental damage – huge, huge damage,� he told the World Petroleum Congress in Doha.

Computers control nearly all the world’s energy production and distribution in systems that are increasingly vulnerable to cyber attacks that could put cutting-edge fuel production technology in rival company hands.

“We see an increasing number of attacks on our IT systems and information and there are various motivations behind it – criminal and commercial,� said Luehmann. “We see an increasing number of attacks with clear commercial interests, focusing on research and development, to gain the competitive advantage.�

He said the Stuxnet computer worm discovered in 2010, the first found that was specifically designed to subvert industrial systems, changed the world of international oil companies because it was the first visible attack to have a significant impact on process control.

But the determination and stamina shown by hackers when they attack industrial systems and companies has now stepped up a gear, and there has been a surge in multi-pronged attacks to break into specific operation systems within producers, he said.

“Cyber crime is a huge issue. It’s not restricted to one company or another it’s really broad and it is ongoing,� said Dennis Painchaud, director of International Government Relations at Canada’s Nexen Inc. “It is a very significant risk to our business.�

“It’s something that we have to stay on top of every day. It is a risk that is only going to grow and is probably one of the preeminent risks that we face today and will continue to face for some time.�

Luehmann said hackers were increasingly staging attack over long periods, silently collecting information over weeks or months before attacking specific targets within company operations with the information they have collected over a long period.

“It’s a new dimension of attacks that we see in Shell,� he said.

NOT IN CONTROL

In October, security software maker Symantec Corp said it had found a mysterious virus that contained code similar to Stuxnet, called Duqu, which experts say appears designed to gather data to make it easier to launch future cyber attacks.

Other businesses can shut down their information technology (IT) systems to regularly install rapidly breached software security patches and update vulnerable operating systems.

But energy companies cannot keep taking down plants to patch up security holes. cramer penny stocks

“Oil needs to keep on flowing,� said Riemer Brouwer, head of IT security at Abu Dhabi Company for Onshore Oil Operations (ADCO).

“We have a very strategic position in the global oil and gas market,� he added. “If they could bring down one of the big players in the oil and gas market you can imagine what this will do for the oil price – it would blow the market.�

Hackers could finance their operations by using options markets to bet on the price movements caused by disruptions, Brouwer said.

“So far we haven’t had any major incidents,� he said. “But are we really in control? The answer has to be ‘no’.�

Oil prices usually rise whenever tensions escalate over Iran’s disputed nuclear program – itself thought to be the principal target of the Stuxnet worm and which has already identified Duqu infections – due to concern that oil production or exports from the Middle East could be affected by any conflict.

But the threat of a coordinated attack on energy installations across the world is also real, experts say, and unlike a blockade of the Gulf can be launched from anywhere, with no U.S. military might in sight and little chance of finding the perpetrator.

“We know that the Straits of Hormuz are of strategic importance to the world,� said Stephan Klein of business application software developer SAP.

“What about the approximately 80 million barrels that are processed through IT systems?,� said Klein, SAP vice president of oil and gas operations in the Middle East and North Africa.

Attacks like Stuxnet are so complex that very few organizations in the world are able to set them up, said Gordon Muehl, chief security officer at Germany’s SAP said, but it was still too simple to attack industries over the internet.

Only a few years ago hacking was confined to skilled computer programmers, but thanks to online video tutorials, breaking into corporate operating systems is now a free for all.

“Everyone can hack today,� Shell’s Luehmann said. “The number of potential hackers is not a few very skilled people �? it’s everyone.�

© Thomson Reuters 2011

Tags: approximately, business, congress, data, determination, hackers, internet, middle, middle-east, north, operations, price, sap, stuxnet, world

Buy Penny Stocks | Investing In Penny Stocks – How To Buy Penny Stocks Online For A | Penny Stocks List

When you decide to buy penny stocks to add to your investment portfolio, or maybe just when you’re starting out you have made a big decision. Penny stocks are good investments only when you know how to buy, choose and profit from them.

How To Buy

When buying these stocks, your best choice will have to be choosing an online discount broker to save on hefty commissions associated with traditional stockbrokers.  In addition, it pays to have a company that specializes in penny stocks to handle your trades, if only for the focused expertise provided to your investments. 

You will be required to deposit the money necessary to buy the stocks of your choice.  Don’t worry as you can start with as little as a few hundred dollars in initial investment capital.

When you have deposited the money via personal check, bank transfers or wire transfers, you can now click away on the “Buy” button.  The simpler part is in clicking the mouse while the hardest is in choosing the penny stocks to choose.

How To Choose

Speaking of choosing penny stocks, you must have an investment plan. As always, keeping up with the Joneses may not be a good idea as your investment plan must be aligned with your goals.  With that said, you must choose the penny stocks that fit your criteria of a good investment. For example, if you are a day trader, you will want to buy penny stocks that can be easily bought and sold within the day for a tidy profit. 

Also, you must put your nose to the grindstone by researching as much as you possibly can about the company offering the stocks and the movement of the penny stocks themselves. penny stocks vanguard This way, you can apply analytical tools and processes to determine which stocks are probably the most profitable.  And did we mention that it pays big time to stay on top of industry developments? It most definitely does.

How To Profit

Life as a penny stock investor will be so much simpler if only choosing to buy these stocks the right way is all there is to earning profits. However, life is not that kind especially where money is concerned.  Fortunately, there are some things you can do to increase your chances of earning consistent profits.  First, invest in what you can manage to lose without drastically and adversely affecting your investment portfolio.  Keep in mind that investing in these stocks is the most speculative investments and as such you have to balance the need to profit and the inevitability of losing money. 

Second, and it cannot be emphasized enough, you must stick to your investment plan.  If it says that $100 in profits and $50 in losses, whichever comes first, each day is the limit, then walk away from the trading floor when these caps have been reached. 

When you buy penny stocks, you must carefully think through your decisions before, during and after this activity to ensure that profits are maximized and losses are minimized.

To get the best penny stocks visit http://www.stock-trading-made-ez.com/


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Exchange CEOs Square Off Over NYSE Takeover

By AARON LUCCHETTI

In 2008, NYSE Euronext Chief Executive Duncan Niederauer arrived at an investor conference early to hear comments by Robert Greifeld, the head of rival exchange operator Nasdaq OMX Group Inc.

Mr. Niederauer cringed at Mr. Greifeld’s description of market-share gains in stock trading by Nasdaq over the Big Board, denouncing the numbers as “dishonest.”

“He’s running for president. I am the president,” the NYSE chief told the crowd, alluding to a line about actor Michael Douglas’s political enemy in the 1995 movie “The American President.”

The rival CEOs have a long history of tough talk and ferocious competition that could soon explode if Mr. Greifeld decides to make an audacious bid to break up Deutsche Börse AG’s proposed takeover of NYSE Euronext.

For the past month, the 53-year-old Mr. Greifeld has been discussing with Nasdaq directors and other exchanges how to snare NYSE Euronext’s stock-trading businesses, which is anchored by the 219-year-old New York Stock Exchange. A decision on whether to proceed with a bid is expected soon.

If Mr. Greifeld can torpedo the Deutsche Börse deal and walk away with the Big Board, he also would likely become Mr. Niederaurer’s boss. Analysts say the Big Board chief, a former trader at Goldman Sachs Group Inc., probably would quit, a move that would entitle him to exit-related payments of $34.3 million.

“These are two competitive guys that have a history of going straight up against each other,” says Richard Repetto, an analyst at Sandler O’Neill & Partners. Mr. Greifeld “lives and breathes the Nasdaq, and he sees this as another showdown.”

ChinaFotoPress/Getty Images for Robert and Bloomberg News for Duncan

A Nasdaq spokesman says Mr. Greifeld’s animosity toward Mr. Niederauer, 51, isn’t personal. Neither chief executive would comment about the other for this article.

If the Deutsche Börse deal goes through, the combined company would tower over Nasdaq, marooning Mr. Greifeld without a major merger partner for the electronic market, launched in 1971 by Wall Street securities firms.

After last May’s “flash crash,” when stocks fell sharply and then rebounded within a few hours, Mr. Greifeld, in a CNBC interview, blamed the NYSE for turning off some of its systems when trading grew volatile.

“Let’s stop the finger-pointing,” Mr. Niederauer countered in his own interview on CNBC. He said the NYSE system worked just as it was designed to, and that a tangled web of fast-trading electronic systems like Nasdaq’s had pushed prices around.

Earlier this year, when Mr. Niederauer was discussing Mr. Greifeld with an investor, the NYSE chief executive started cursing, said a person briefed on the conversation. An associate of Mr. Greifeld says “It’s not really personal. penny stocks fidelity He just doesn’t have that much respect for him professionally.”

Mr. Greifeld uses the rivalry as motivation. “He gets up in the morning every day ready to beat the NYSE,” says a former colleague.

During the 2008 investor conference, sponsored by Sandler O’Neill, Mr. Greifeld crowed to a group that included Mr. Niederauer that Nasdaq’s market share in stock trading was climbing, while a key gauge of the NYSE’s clout had slipped below 28%.

“It wasn’t too long ago … we were trying to get [NYSE share] below 39%, then 35, then 33, then 30, and now it’s gone below 28%,” he said. He didn’t stick around to hear Mr. Niederauer’s rebuttal, according to attendees.

In the past few years, NYSE officials have started telling analysts and investors that the company’s primary U.S. competitor is CME Group Inc. “Duncan is like the political incumbent that doesn’t want to give his opponent more credit by uttering his name,” one analyst says.

Rivalry aside, the CEOs have some things in common. Both grew up on Long Island and wrote about stock markets, Mr. Niederauer in a middle-school paper and Mr. Greifeld in a graduate-school thesis at New York University. Mr. Niederauer honed his managerial skills running a restaurant in Atlanta, then went to business school at Emory University and eventually talked his way into a job at Goldman.

Messrs. Greifeld and Niederauer live about 10 miles from each other in different New Jersey suburbs. Mr. Niederauer prefers team sports like basketball. Mr. Greifeld ran marathons, later switching to a treadmill that allowed him to keep running with a bad knee.

Some outsiders say their rivalry has grown more intense because the stock-exchange business is under relentless pressure.

“There’s been structural change that has made these two even more competitive,” says Alfred Berkeley, a former Nasdaq executive who is chairman of brokerage firm Pipeline Trading Systems. Before both exchanges became for-profit, publicly traded companies, it would have been “unheard of” for Nasdaq to try to purchase the Big Board, Mr. Berkeley adds.

Now, both sides are preparing for a showdown over the fate of the New York Stock Exchange. If Nasdaq decides to proceed with a bid, people familiar with the matter say its executives are likely to criticize NYSE Euronext and Deutsche Börse as less successful acquirers than Nasdaq, according to people familiar with the matter.

Mr. Greifeld probably would be painted by NYSE Euronext and Deutsche Börse as a slash-and-burn CEO who doesn’t devote enough attention to keeping valuable employees or expanding into fast-growing businesses such as derivatives.

—Gina Chon
contributed to this article.

Write to Aaron Lucchetti at aaron.lucchetti@wsj.com

‘Devastated’ Corzine Defends Actions | Penny Stocks to Watch

‘Devastated’ Corzine Defends Actions

By SCOTT PATTERSON And ANDREW ACKERMAN

WASHINGTON—A contrite Jon Corzine expressed both sorrow and a firm defense of his actions Thursday in his first public appearance since the collapse of MF Global Holdings Ltd. in late October.

[1208corzine]Reuters

Former MF Global CEO Jon Corzine takes his seat to testify about the firm’s bankruptcy during a hearing before the U.S. House Agriculture Committee.

“Like all of you, I am devastated by the enormous impact on many peoples’ lives resulting from the events surrounding the MF Global bankruptcy,” Mr. Corzine said at a hearing by the House Agriculture Committee, which subpoenaed the former MF Global chief executive last Friday. “Of course my distress and sadness pale in comparison to the losses and hardships that customers, farmers, ranchers and others—employees and investors—have suffered.”

Mr. Corzine, who resigned as chairman and CEO of MF Global after its Oct. 31 bankruptcy filing, is a former U.S. senator and governor of New Jersey.

He faced tough questioning by the Republican-led committee, creating an atmosphere fraught with political drama. Mr. Corzine, 64 years old, received President Obama’s support in 2009 for his unsuccessful campaign for re-election as governor, and more recently held a fund-raising dinner for Mr. Obama.

Some of the initial questioning focused on a significant shortfall in customer funds at MF Global. As Mr. Corzine scrambled to stabilize the firm in its last days, it was discovered that hundreds of millions of dollars were missing in customer accounts.

Mr. Corzine said repeatedly that he became aware of the shortfall in customer accounts on “Sunday night,” referring to late Oct. 30 or early Oct. 31.

The trustee overseeing MF Global’s liquidation estimates the amount at $1.2 billion. Mr. Corzine said that he had little to do with the mechanics of moving customer cash and collateral and that he was “stunned” when he learned the money was missing.

“I simply do not know where the money is,” he said, noting that “there were an extraordinary number of transactions during MF Global’s last few days.”

The state of the firm’s books and records reflected chaos in the brokerage’s final days, he said.

Still, Mr. Corzine mounted a defense of his tenure at MF Global, arguing that he cut leverage at the company from 37.3 to 1 in the first quarter of 2010, when he took charge at MF Global, to 30 to 1 at the end. He also defended his bet on European debt. Mr. Corzine, who was also a former Goldman Sachs Group Inc. chairman, took the helm of MF Global in March 2010 and quickly started making big bets on European government bonds.

Mr. Corzine defended his decision to invest in European sovereign bonds of countries including Italy, Spain and Portugal. The bet grew to more than $6 billion in a strategy that was repeatedly discussed by the company’s board.

“I strongly advocated the trading strategy,” Mr. Corzine said, noting that he had identified the yields on the bonds as “favorable” at a time when he and senior traders at the firm were “discussing ways to improve the firm’s profitability.”

He also noted that the firm structured the trade as a “repurchase to maturity,” which reduced some of MF Global’s financing risk and market risks on the strategy.

“I believed that [MF Global’s] investments in short-term European debt securities were prudent,” Mr. Corzine said. “There were discussions at board meetings, at which the transactions were described, analyzed and debated.”

Mr. penny stocks success Corzine said that on Aug. 15, 2011, he met with officials from the Financial Industry Regulatory Authority and the Securities and Exchange Commission in Washington, D.C., to discuss the European bet.

Several days later, MF Global was told that it needed to raise capital to support its positions. He discussed a controversial lobbying effort he made to influence the Commodity Futures Trading Commission’s plans to change rules regarding how futures commission merchants such as MF Global can treat customer funds.

The CFTC was considering a ban on internal repurchase agreements, in which futures firms swap customer funds for higher yielding assets such as government bonds.

In a July 20 conference call with CFTC officials, including Chairman Gary Gensler, Mr. Corzine said he argued that such transactions should continue to be permitted because they could be beneficial to the futures commission merchants.

Mr. Corzine also said that he spoke with Mr. Gensler “on only limited occasions” since the time he joined MF Global. Mr. Gensler, who for years worked alongside Mr. Corzine at Goldman Sachs, recused himself from the investigation into MF Global’s collapse to avoid the appearance of a conflict of interest.

In its final weeks as customers and counterparties fled the firm, MF Global undertook “extraordinary steps to ensure that it was able to honor customers’ requests to withdraw funds or collateral,” Mr. Corzine will say.

The firm unwound hundreds of millions of dollars of European debt trades and attempted to draw down loans from a consortium of banks led by J.P. Morgan Chase & Co. In its question and answer period following Mr. Corzine’s statement, the House committee is sure to press him for answers about the missing customer cash.

Investigators believe MF Global in the week before it filed for bankruptcy protection shifted funds from the customer accounts to its broker dealer, which handled the European-bond bet, according to people familiar with the matter.

Futures firms such as MF Global are prohibited from using customer cash in their own accounts, according to the Commodity Exchange Act. Mr. Corzine is widely expected to avoid directly answering specific questions about MF Global’s activities by invoking his Constitutional right against self-incrimination.

He said repeatedly that he doesn’t have all the information he needs to provide informed answers and he hasn’t had complete access to the firm’s records or his own notes since the bankruptcy.

The Federal Bureau of Investigation is currently probing MF Global’s collapse and any statements could be used in a case against him. “He would be making a major mistake if he doesn’t take the Fifth on almost all of this,” said Anthony Sabino, a professor of law at St. John’s University who specializes in white-collar crime, referring to the Fifth Amendment to the Constitution. “He’s in a tight spot and he’s going to be under oath so he has to speak truthfully.”

Mr. Corzine is also expected to testify before a House Financial Services subcommittee and the Senate’s Agriculture committee next week. James Kobak, lead counsel for the trustee overseeing the liquidation of MF Global, and CFTC member Jill Sommers testified on an earlier panel at the Thursday hearing.

Ms. Sommers took on oversight of the agency’s investigation into MF Global after Mr. Gensler recused himself.

“While our current focus is returning as much money as possible to customers, we are expending an enormous amount of effort to locate the missing customer funds and pursuing the enforcement investigation,” Ms. Sommers said.

Several exchange representatives also testified, including CME Group Inc. Executive Chairman Terrence Duffy. Mr. Duffy disclosed in testimony new details about the final days of MF Global. CME auditors learned from the CFTC on Oct. 30, one day before MF Global filed for bankruptcy protection, that a draft segregation report provided to the CFTC on Oct. 28 showed a $900 million shortfall in customer funds. MF Global had said the shortfall was caused by an “accounting error,” according to Mr. Duffy.

Throughout the rest of the day and that night, CME auditors and the CFTC worked with MF Global to discover the error. After finding that the shortfall was not an error, MF Global told the CFTC and CME that “customer money had been transferred out of segregation to firm accounts,” Mr. Duffy said.

—Aaron Lucchetti, Jamila Trindle and Jacob Bunge contributed to this article.

Tags: agriculture, article, bankruptcy, customer, european, events, financial, firm, global, italy, president, spain, time, trustee, university

Do students need credit cards?


Sep 29, 2011 – 2:48 PM ET
| Last Updated: Sep 29, 2011 3:52 PM ET

By Jay Bryan

Josh is stressed out. With good reason.

The 26 year-old Concordia University undergraduate is struggling to manage $24,000 in credit card debt, cover his day-to-day expenses and keep up with his full-time studies. Until he qualified for a student loan this month, he was forced to work full time just to earn enough money to pay his minimum credit card payments and service another $16,000 in debt from a line of credit.

“The last year was very stressful,� he said. “I wasn’t able to achieve the grades I wanted to because I had so much stress from having to work so hard.�

Unfortunately, Josh’s story is not an unusual one on Canadian university campuses.

More than ever before, students have easy access to credit cards and lines of credit – often with very high spending limits. If used responsibly, credit instruments are a convenient payment method that can be used to build a healthy credit history, which can be helpful to a young adult hoping to buy a house or make other major purchases down the road.

But many students fail to do so.

Josh, who did not want his last name revealed for privacy reasons, obtained his first credit card at the age of 18. A student in Edmonton at the time, he was earning good wages working part time at a credit card company. Over the next few years, he spent freely and quickly racked up thousands of dollars in debt on four credit cards. Instead of putting on the brakes, the financial institutions that issued the cards raised his spending limits even though he was only in his early 20s – one card’s limit was hiked to $11,000 – and gave him the line of credit. It was a nice lifestyle. Until he was unexpectedly laid off.

Suddenly, Josh found himself scrambling to meet his debt obligations.

“Because I worked for a credit card company in Edmonton, I was very conscious of credit and credit scores and unfortunately the situation went downhill,� he said.

Josh figured he could save some money by moving to Montreal, which has a lower cost of living than Edmonton, to continue his studies. But his financial situation actually worsened when the Quebec government did not recognize him as an independent student and deemed him ineligible for its student loan program. He ended up pursing his studies and used credit to cover the funding shortfall for his education and living expenses.

Working and receiving some financial help from his parents has enabled him to get his debts somewhat under control – even though half of his monthly income now goes toward making his minimum payments – and he hopes to pay off his debts within the next 10 years.

But he worries that access to easy credit is enabling other students to wind up in the same situation.

“I found that (banks) were very happy to offer all of this money not realizing that a student’s situation can change,� he said. “There were no relief programs in any way. Or not that I was aware of.�

The substantial cost of post-secondary education today is stressful for many students. Adding credit card debt to the equation makes it even worse.

Last month, a TD Canada Trust student financial study found that 58 per cent of Canada’s post-secondary students aged 18 to 24 are worried about money. Sixty-four per cent of the students surveyed expect to graduate with debt, and one quarter of them anticipate owing in excess of $25,000. Yet 47 per cent of the students surveyed said the most convenient way to pay for day-to-day expenses is with a credit card. The students said their main discretionary expenses were transportation, eating out and technology.

Such worrisome survey results prompt the question: Do students really need credit cards?

In many cases, possessing a credit card is “a necessary evil,� said Brenda Shanahan, director of McGill’s New Residence Hall student dormitory.

A banker turned social worker, Shanahan lectures in the university’s school of social work where she is completing a PhD on how young adults can acquire healthy financial behaviour. She also runs financial management workshops for students.

Many parents like to give their adult children, especially those studying away from home, a credit card to use as an emergency source of funds, she said. Having a credit card also enables students to shop online – where some of the best discounts for textbooks and school supplies can be found – and where they can go to buy items like iTunes songs and plane tickets.

“You’re a non-person in the electronic marketplace if you don’t have a credit card,� she said.

The problem, Shanahan said, is learning how to use a credit card properly. And it’s even harder when students are living in a society that promotes a culture of indebtedness. Many parents don’t use credit wisely themselves and are not in a position to teach financial literacy to their children, she said. penny stocks investing

Richard Haggins, manager of education at Mississauga, Ont.-based debt counselling firm InCharge Canada, which operates as SOS

Dettes in Quebec, agreed.

All of this is compounded by the easy availability of credit and aggressive marketing on the part of credit card firms targeting students, he said.

“Today’s youth are much more prone than their grandparents to wind up getting into debt issues as credit is more available.�

Thirty years ago, Haggins said, it was unthinkable that a bank would give a credit card to an 18-year-old with no income. Graduating students were sometimes able to get credit cards but they usually had $500 spending limits – not $5,000. Today, students can fill out application forms that are practically pre-approved, he said. Moreover, he added, many credit card companies market their products to freshmen during university orientation weeks by offering them gifts – such as sweatshirts – if they apply for cards.

A spokesperson for Canada’s main bankers’ association defended industry practices in an interview and denied irresponsibility in providing credit cards with high limits to students who have virtually no income.

“A credit card can be a good tool for students as long as they use it responsibly and don’t get themselves into debt,� Canadian Bankers Association spokesperson Maura Drew-Lytle said.

She said banks determine student credit limits on a case-by-case basis and that a student has the option of asking for a lower limit on his or her card. Ultimately, she added, it is a student’s responsibility to learn how to manage a credit card properly.

“They have to make sure they are ready for a credit card if they want one,� Drew-Lytle said.

But are banks doing enough to educate students about proper credit card use?

“Yes,� she said, adding that banks and her association provide educational resources for post-secondary students online about budgeting and the proper use of credit cards. Drew-Lytle said her organization also offers a financial education seminar to high school students.

Regardless, critics say that in order to learn how to deal with the onslaught of credit offers, students need to start taking academic courses about the fundamentals of personal finance in high school.

“I believe that there are some schools that introduce these kinds of things, but they tend to focus on investing in the stock market,� Shanahan said. “That’s fun. But I’d like to see more depth than that. I don’t want to encourage gambling on the stock market. I’m talking about life skills.�

Haggins said teaching financial literacy should start in the early teens – before young people have developed consumer behaviours.

“The earlier you get to people, the better it is going to wind up,� he said.

Middle- and upper-class students living at home and working part time are especially prone to developing what the industry calls “premature affluence,� Haggins added. Since they usually don’t have to pay for their living expenses, most of their income is used for discretionary purposes. This often leads to developing a taste for luxuries such as expensive coffee and clothing.

But when these young people move out to attend school, they suddenly find that their income barely covers their basic expenses – let alone luxuries.

“They don’t want to start living like a pauper, but their income barely covers the necessities of life,� Haggins explained. “But they have credit cards and they can put luxuries on the credit cards and then make the minimum payments. They are able to go out and they are able to enjoy things.�

He characterized the minimum payment system as “a big trap� that encourages consumers to hold on to debt to create profit for credit card companies. Often, he said, the hammer drops once a student graduates and student loan payments kick in six months later.

While some young adults realize they need to cut back on expenses and start paying off their debts, others keep spending and put the items they can’t really afford on their credit cards, he said.

Haggins said it would better for students if financial institutions gave them credit cards “with training wheels� – cards that would give them a low limit for the first year or so, which would enable them to gradually build up their limits and, one would hope, learn how to control their spending habits, he said.

“But to right out of the gate give them a credit card with a $5,000 limit – that’s asking for trouble,� Haggins said.

As for Josh, he thinks that students shouldn’t be blocked from having credit cards because they are needed to build a personal credit history.

“But stick to one,� he said. “Don’t take those extra offers.�

He called his experience a “life lesson.�

With the exception of his student loan, he said, “anything I spend now is the money I make. I don’t live on credit anymore.�

amacgregor@montrealgazette.com

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Wednesday, October 13th, 2010

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Buy Penny Stocks | Buy Penny Stocks Online | Penny Stocks List

Do you want to buy penny stocks online? The key to the stock market, is knowledge. Let’s begin with, what is a penny stock or a micro cap stock? A penny stock is a stock that has a value of $5 or less through OTC, otherwise known as over the counter and the micro cap stocks trade through pink sheets and/or quotations. In this article, reasons to buy penny stocks are going to be discussed.

Micro cap stocks can be a great investment for an investor, this form of stock buying is usually bought by savvy or experienced investors more so than beginners, although many beginners do in fact purchase them because the low price per share makes them very appealing to an investor. Most individuals like to start out at a low price so that they only lose a small amount of money.

Buying penny stocks can give an investor a very high return, the reason why an investor can come out on top through the purchase of these stocks is because the low price of the stock, with any change of the stock going upwards can either be in the hundreds or thousands of percent in a few days. Say you buy a micro cap stock for $3, then there is a big move on investors buying them or a positive thing happens to the company of the stock you purchased and it shoots up to $6 a share, boom you have doubled your money, in other words in a bullish market you can make a lot of money. For the most part penny stocks can be a large part of an experienced investor’s portfolio, but it is not recommended for a new investor to just have micro cap stocks in their portfolio.

Micro cap stocks are considered one of the riskiest investments at the same time as possibly being one of the most profitable investments, the reason being is since they are traded on the OTCBB and the pink sheets. The OTCBB and the pink sheets have very low listing requirements unlike the New York Stock Exchange or the Nasdaq. penny stocks vanguard Since companies are usually new they cannot provide enough financial history. Or the company is close to bankruptcy, which can both cause low trading volumes. One more reason the penny stock market is risky is because of all of the fraud schemes out there. It gives people an opportunity to purchase large amounts of shares manipulating the market, then selling them to the inexperienced investors and when they are sold, the stock dumps.

If you are an investor, look into buying penny stocks, as was mentioned they can be a very profitable investment, but they are risky just like every other investment. Be sure to do research on the company before you purchase their stock, nothing is guaranteed in stock investments and you can lose everything that you put in. You can make a great deal of money buying penny stocks, just make sure you research a lot.

Keep researching and learning about how to buy penny stocks online. Start with fake money and then once you are confident, move on to the real thing. A beginner can make money with micro cap stocks, you just have to become an expert with all the knowledge you gain. Visit the links to get started. Now go find out what the good penny stocks to buy are and start making money soon.


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Penny Stock Promotion

bgold

B2Gold Corp (NYSEMKT:BTG)

B2Gold Corp. is a Canada-based gold maker. The Company has three working mines, incorporating two in Nicaragua and one in the Philippines, and an arrangement of advancement and investigation resources in Namibia, Nicaragua, Mali, Burkina Faso and Colombia. Its mines incorporate Masbate Gold Mine – Philippines, La Libertad Gold Mine – Nicaragua and El Limon Gold Mine – Nicaragua. Its improvement activities incorporate Otjikoto Development Project, Namibia; Fekola Development Project – Mali. The Masbate Project is situated on the island of Masbate roughly 350 kilometers south of the Manila. La Libertad Mine is found 178 kilometers east of the Nicaraguan capital of Managua. he Limon Mine is situated in northwestern Nicaragua roughly 100 kilometers north of Managua. The Otjikoto gold undertaking is found 300 kilometers north of Namibia’s capital city of Windhoek between the towns of Otjiwarongo and Otavi.

B2gold Corp on 11th June, 2015 announced that it has shut its already reported new $350 million rotating credit facility. On May 20, the organization consented to acknowledge arrangement for syndicate of universal banks for new spinning credit office (the new RCF) for a total measure of $350 million. New RCF likewise considers accordion highlight endless supply of extra tying responsibilities, office may be expanded to $450 million at whatever time before development date. HSBC, as sole lead arranger and sole book runner, will go about as managerial agent. Syndicate incorporates The Bank of Nova Scotia, Societe Generale and ING Bank N.V, as commanded lead arrangers. penny stocks 1000 New RCF will bear enthusiasm on a sliding size of between Libor in addition to 2.25 pct. to 3.25 pct. in view of the organization’s combined net influence proportion.

On 23rd February, 2015 Arena Minerals entered into a coupling letter concurrence with B2Gold Corp., as per which Arena has allowed B2Gold the choice to secure up to a 60 pct enthusiasm for the Pampa Paciencia and Cerro Barco properties. Which contain 27,341 hectares of the 149,235 hectare Atacama copper venture, situated in Antofagasta, Chile? In request to practice choice and gain a 60 pct enthusiasm for the Property, B2Gold will be obliged to spend at least $20.5 mln on Property more than a five year period.Also B2Gold will be obliged to make installments of $630,000 to Sociedad Quimica y Minera de Chile S.A., the fundamental property proprietor, in the interest of Arena more than a three year period. In expansion, B2Gold will make installments of $2.5 mln specifically to Arena more than a three year period as further set out underneath.

Officers and directors

Robert Melvin Douglas Cross Independent Chairman of the Board
Clive Thomas Johnson President, Chief Executive Officer, Director
Michael Andrew Cinnamond Chief Financial Officer, Senior Vice President – Finance

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Buy Penny Stocks | Information About Where To Buy Penny Stocks | Penny Stocks List

Saturday, June 26th, 201004b2091c7d9b0d4fb45d724cd27aecd2 91x71 Buy Penny Stocks | Information About Where To Buy Penny Stocks

Investors popularly choose a penny stock, which is also called a micro cap stock, globally. It makes an investor vulnerable to a very high risk of losing money because the penny stock is illiquid. A trader who is familiar with penny stocks can get very high returns. Before an investor can think of where to buy penny stocks, he or she must understand what they really are. Some people find themselves buying stocks they do not know anything about.

A penny stock is normally any stock, which is worth $5 or less money. Although this not a standard definition, a penny stock is often cheap. These stocks are very volatile meaning that their prices will keep going up or down. Prospective investors planning to buy penny stocks soon should really know where to buy them. Even before buying, the following two requirements are important:

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* Set aside starting trading capital: There is not a single business that does not require starting capital. Penny stocks are cheap and anyone can buy some. However, a potential trader must have capital. The sum should be beyond the amount investors would require to survive in the markets. Be careful when estimating the capital for trading. Starters may lack an idea about this explain why it’s necessary for them to find and read relevant tips on the Web. penny stocks daily

* Select a stockbroker: A penny stockbroker is very important when a person is just a beginner. There is simply too much to learn about the market. Stockbrokers are experts. They know exactly where to buy the penny stocks. They also have valuable tips about picking profitable stocks all the times. The first thing to do when selecting a broker is to use the Internet to find reputable services. Some brokerage firms are completely reliable and others are not. Gather several options and select the best broker among them. Some of the best types are discount brokers. Many of them offer legal business and they value quality services. Prospective traders are better off working with a full service broker. Many of them have best quality services and they offer advice.

Once the trading capital and the stockbrokers are ready, where to find penny stocks is next. There are two common sources of penny stocks. One is the Over the Counter market. This type of a market is equivalent to the New York Stock Exchange. The key quotations offered at the OTC are pink sheets. In the sheets, one can find listings of companies offering penny stocks to trade on a daily basis. The other option is the Over the Counter Bulletin Board.

An investor only have to use these sources to find the penny stocks he or she could buy. Once a stock is found, an investor should then tell the broker about it. The broker’s role is help the traders execute the orders they want to. Sometimes where to buy penny stocks depend on the country. For instance, Canadian penny stocks are open for USA residents as well. To buy these types of stocks, a trader should go to Toronto Stock Exchange and TSX Venture Exchange markets.


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