Strathclyde Associates Finance

Strathclyde Associates Finance News: Budget prepares for only Modest Growth in 2012, says Finance Minister Flaherty

March 7th, 2012 admin

http://www.thestar.com/business/article/1141162–budget-prepares-for-only-modest-growth-in-2012-says-finance-minister-flaherty

Les Whittington, Ottawa Bureau

 

OTTAWA—Fears of a financial meltdown in Europe or a double-dip recession in the United States are declining, but Canada is still facing only moderate expansion in the 2-per cent range in 2012, private sector economists told Finance Minister Jim Flaherty.

“Canada will continue to see modest growth going forward,” said Flaherty after meeting with the analysts in advance of the March 29 federal budget.

A year ago, private sector experts had been predicting nearly 3-per cent growth in Canada this year. But now their forecasts remain in the 2-per cent range because of the economic headwinds from Europe and the U.S.

After the closed-door meeting, the economists noted that European leaders have so far avoided a continent-wide financial disaster and improvements in U.S. jobless numbers provide hope the recovery there is gaining strength.

“It’s fair to say that most of the economists feel that Europe remains a challenge but the United States is starting to look at bit positive,” Flaherty explained at a press conference.

But the analysts expressed varying degrees of concern about risks to the Canadian economy from overheating in the Canadian housing market—particularly for condominium sales in Toronto and Vancouver—and the high level of household debt in Canada.

“External risks may have subsided a little bit since the fall but at the same time I would argue that some of the domestic risks are as high or perhaps even a little bit higher,” said TD Bank’s Derek Burleton.

The economists said the federal government’s plan to eliminate the federal deficit–$33 billion in fiscal 2010-11—by 2016 appears on track. In fact, there was agreement that Ottawa’s budgetary position is improving to the point that the deficit in the current 2011-12 fiscal year may be considerably below the forecast $31 billion.

The Harper government had been expected to spell out its austerity plan in the March 29 budget. But Flaherty said the details of cuts to jobs and services will be left to individual departments to explain later.

He also said Ontario shouldn’t use corporations as scapegoats to try to balance the province’s books by scrapping tax breaks for businesses that purchase tickets for NHL hockey and other professional sports.

Ontario Finance Minister Dwight Duncan has said the province, which faces a $16-billion deficit, would like to scrap the tax write-off for corporations that buy tickets for professional sports and cultural events. It would save Ontario $15 million annually.

Flaherty said he was disappointed with Duncan’s approach, saying “we have much bigger issues than that.” He said the provinces as a group need to work to wind down their annual budget deficits for the sake of their economic health.

“I’m just not into scapegoats, I’m not into side issues,” Flaherty told reporters.

India Looks on Economic Downturn, Cut Jobs Strathclyde Associates Finance News:

December 29th, 2011 admin

The worry of the economic downturn has looked to be considered real, furthermore the very first time recently, India’s industrial economic climate has in fact reduced, which can cause job reductions, higher inflation plus more bearish stock markets. In reality, the Confederation of Indian Industry (CII) has cautioned for job cutbacks and appealed for immediate actions that will handle the decline following the index of Industrial Production dropped to negative 5.1% in October. The CII additionally mentioned too little investments may become a drag on development which an extended decrease in the mining industry may have implications upon livelihoods. Economic specialists mention that manufacturing segment will probably experience job cuts and cautioned that when inflation continues to stay higher the stock markets will continue to stay in bear hold. The industrial productivity had been 1.9% within the month of September and the slide comes after the continual decline in the last couple of months, led by the sharp drop in output of virtually significant industries, particularly manufacturing, mining and capital merchandise. The greatest drop originates from the capital products and the manufacturing industry as well as mining. The capital products growth reaches negative 25% whereas manufacturing function has dropped to negative 6% from 2.1% last month. Manufacturing facility production, as assessed by the Index of Industrial Production (IIP), experienced increased by 11.3% in October 2010. This negative growth in manufacturing facility production dragged down the BSE Sensex by 343 points or 1.12% about Monday to under the actual 16,000 level immediately after two weeks. The Sensex, that have shed 664 points in the last two dealing periods, dropped even more by 343.11 points to terminate the day at 15,870.35, concluding beneath the 16k level after November 25. The BSE 30-share benchmark has dropped more than 1,000 points in the past three dealings, deteriorating investors’ money by almost Rs 3 lakh crore. The broad-based National Stock Exchange index Nifty in addition has shed 102.10 points or 2.10% to 4,764.60 on Monday. Even though, Prime Minister’s Economic Advisory Council Advisor C Rangarajan anticipated the GDP growth is still around 7-7.5%, it appears tough to accomplish because of insufficient remedial steps from the UPA Government. Considering the headline inflation continued to be across the 9%-mark from December 2010, the Reserve Bank has hiked rates of interest 13 times from March, 2010, in order to tame rising prices. India Inc had linked the downturn to increasing rates of interest that have resulted in a rise in the price of credit hence limiting new investment. However extended, the political uncertainty has averted the scam-hit UPA Government through using every significant policy options. A number of major industrialists in the yearly Indian summit of World Economic Forum have recently claimed the Central Government may be struggling with policy paralysis. Furthermore, the mixed assault by the Opposition plus some allies pressured the Government to await its decision in permitting FDI in retail sector, which usually set an enormous question mark about the capability of the Government to consider further economic changes. Consequently, it appears the crisis-hit UPA Government was in absolutely no point to impress the confidence which required increasing the dropping economic climate that is currently going through disturbance as a result of gloomy worldwide economic situation.

Strathclyde Associates Finance: SJC warns students of potential financial aid scam

October 27th, 2011 admin

Adela Uchida

HOUSTON (KTRK) — A local college is speaking out against a company charging a processing fee for financial aid. The school says cash-strapped students are being tricked into paying for something that’s already free.
College students across our area are getting the letters in the mail, promising information to help them find money for their education. But officials at San Jacinto Community College are telling their students not to use them.
SJC is warning its students not to apply for financial aid through the Student Financial Aid Resources Center, they say, because the company is charging for services that the school says are free in the community college’s financial aid office. And there are other schools around the country warning their students as well.

The letters from the Student Financial Aid Resources Center came in the mail, inviting students at SJC to apply for financial aid with their help for just $59.
Some students like freshman Morgan Ouelette started filling in the application right away.
“It was because it says it’s for next year’s financial aid and it looks legitimate,” Ouelette said.
But then the college issued a warning, calling the offer from the Student Financial Aid Resources Center a “scam.”

“If I would have had the money right then and sent it off, I would have; but I didn’t have the money so I was just going to wait and then I got that email,” Ouelette told Eyewitness News.
SJC explained the reason for the email.
“We provide the service here. Students pay for it in the general service fee. It’s not only available for students, it’s available for the general community,” said Robert Merino, SJC Financial Aid Director.
The San Diego company, Student Financial Aid Resources Center, responded with a cease and desist letter to the school, threatening to sue if the school made, “further intentionally false, misleading and defamatory statements.”

But this isn’t the only school to warn students about the company — schools in Iowa and Louisiana are also warning students not to apply. And a check of the Better Business Bureau in San Diego shows a different, but similar name at the same mailing address and website listing with a grade of “C” and 84 complaints in the last three years — 46 of them in the last 12 months alone.
Meantime, SJC isn’t calling it a scam anymore, but still warns students to stay away nonetheless.
“It’s direct marketing to our students, encouraging them to pay for service we provide for free,” Merino said.
We attempted to contact the company by phone and email and did not get a response.
SJC says if students have any questions about financial aid, do not hesitate to ask the financial aid office.
(Copyright ©2011 KTRK-TV/DT. All Rights Reserved.)

http://abclocal.go.com/ktrk/story?section=news/local&id=8405381

Strathclyde Associates Finance: How to Save Money, Fast

August 23rd, 2011 admin

The falling market and economic volatility that is coming along with it has even the thriftiest finding new and effective ways to save. Fortunately, most of the easiest ways to do so might not even need that much of a sacrifice.

Obtain a Better Plastic
Due to S&P’s downgrade associated with US debt, several experts expect charge card rates will certainly go up quickly. But right now, offers are better than they’ve been in years, claims Curtis Arnold, founder of credit card assessment website CardRatings.com. Customers that haven’t re-assessed in the past may examine upon websites like CardRatings or even CardHub.com to acquire a much better continuous price, 0% balance transfer deals up to 2 years, or even large reward bonus deals. Delta and Continental, for instance, have supplied some consumers sign-up bonus deals worth two totally free round-trip domestic seats, although a great 18-month stability exchange offer might help save someone settling a $5,000 debt in $300 increments more than $650 in interest. BillShrink.com quotes average financial savings of $600, coming from reduced interest rates plus more lucrative returns. But when you’re moving an account balance, make sure to compare costs, Arnold cautions. Most cards cost 3% with the balance, just a few start to demand as much as 5%, that eats directly into financial savings.

Alter (or perhaps Say goodbye to) Cable TV
Buyers can conserve substantially by getting a new cable TV service provider, or based on their own looking at routines, slicing the actual cable entirely. Switching now is easier to match together with websites such as BillShrink or even WhiteFence.com. And a lot visitors have an overabundance options compared to what they believe, particularly for those people who are thinking about satellite TV — and also the annual cost savings regarding switching averages $800 annually. Suppliers frequently make their best offers available by means of cable-phone-Internet lots, even though, and also moving over to some lower price can include a great unbearably sluggish Web or a crackly mobile phone link. Furthermore, the actual growing selections for free of charge or perhaps inexpensive TV on the internet imply many people may be able to make do together with much less channels.

Change Mobile Phone Plans
Mobile phone customers tend to be spending more $92 monthly on average for a two-year agreement, up coming from $78 a year ago, based on J.D. Power & Associates. As well as selecting the right strategy in addition has are more intricate as carriers include fresh information plans and also call for various packages for different phones. At the beginning of July, Verizon prepaid joined AT&T in eliminating unlimited info programs for first time subscribers. Getting into an idea which much better matches the phoning sending text messages as well as info styles can cut back to $400. If the best choice seems to be switching companies, be advised: early termination charges will go up to $350, that could take virtually any savings at once. Changing also can alter call top quality, therefore ask pals that utilize in which provider if they’ve got experienced difficulties — or even better, be lent their particular phone as well as analyze on your own.




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