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Jul292013

Big finance is strangling innovation








How Finance Fueled Students' And Nonprofit's Future






But dont hate it for being beautiful; its got substance, too. The forest boasts 8 wilderness areas, 2,500 miles of trail, 1,900 miles of winding service system roads, and 12 ski resorts (should your snow shredders fit the trunk space). If ice isnt your thing: take the tire-friendly Flat Tops Trail Scenic Byway 82 miles connecting the towns of Meeker and Yampa, half of which is unpaved for you road rebels. fs.usda.gov/whiteriveryou Image credit: Getty Chattahoochee-Oconee National Forest via Noontootla Creek, GeorgiaBoasting 10 wildernesses, 430 miles of trail and 1,367 miles of trout-filled stream, this Georgia forest is hailed as a campers paradise.












Private sector pension corpus is managed by 8 players including three fund managers who manages the government employees' corpus. The other five players are HDFC Pension Management Company Ltd, ICICI Prudential Pension Funds Management Company Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd and DSP BlackRock Pension Fund Managers Pvt Ltd. The National Pension Scheme (NPS), which was introduced by the Central Government in January 2004 for its new entrants and subsequently extended to the private sector in May 2009, has accumulated a corpus of Rs 33,000 crore (as of March 2013) contributed by 50 lakhs subscribers. Last fiscal, the pension scheme for other than government employee with investment focus on corporate debt generated return of 14.19 per cent while investment in government debt earned 13.52 per cent. Besides, Swavlamban scheme generated a return of 13.40 per cent.







D.C.?s campaign finance laws need reforming






With this experience under our belts and with the knowledge that there are innumerable nonprofits that could benefit from impact investments, we devised sofiwire.com , a database for social enterprises to search for funding given their individual characteristics. Student interest isnt the only expanding aspect of impact investment. Financial firms including Goldman Sachs are turning to impact investing as another profitable revenue source that may do even more for their reputation than for their bottom line. Boston Consulting Group estimates impact investing in the market may comprise as much as 1 billion ($1.5 billion) by 2016. The Global Impact Investing Network (GIIN) is even more optimistic, estimating that, of those already engaged in impact investing, 5-10 percent of overall portfolios will be allocated to impact investments in ten years. With customer activism and public fallout from 2008 still lingering, investors and foundations are speaking up: a rapidly growing supply of capital is seeking placement in impact investments across geographies, sectors, and asset classes, with a wide range of return expectations ( GIIN ).







Finance Ministry may allow 5 pvt funds to manage pensions of govt staff




Finance Minister P Chidambaram. (IE Photo)

Board of Elections. The board first raised issues with the campaign in 2011 after a D.C. Office of Campaign Finance audit pinpointed the campaign committees failure to account for more than a quarter-million dollars in donations and expenses while it funneled $239,000 through a political consulting firm to a company operated by Mr. Browns brother. Washington Post Editorials Editorials represent the views of The Washington Post as an institution, as determined through debate among members of the editorial board.




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Jul282013

Why Every Finance Professional Needs a Degree in Big Data









CFOs need to make sure that their organizations are ready to respond to these requests. They need to develop plans for hiring and training staffers. They need to be ready to advise other departments about who to hire to make use of this emerging technology. Most of all, the CFO has to help create a culture in which managers habitually use predictive analytics to make decisions rather than relying on experience and gut instinct alone. Unfortunately, the skills needed to use Big Data are scarce. In the current business world, there arent very many data scientists who both know how to use technologies like Hadoop and have the business savvy to analyze data and ask the right questions that generate clear choices.










Financiers may appear to be simply making money out of money, but if you look closely, you can see that they are really getting rich on the backs of people producing useful things, like consumer electronics, and capital goods like factories and equipment. Good jobs, the health of the overall economy and society, growing incomes for the poor and middle classall of these things have been put aside in the quest for more financial profits. The game is unsustainable. And its turning out badly. To get the economy humming, argues Lazonick, you want to fuel the kind of growth that allows people to enjoy higher living standards.







Serbian PM threatens to oust finance minister






Credit: Reuters/Francois Lenoir By Maja Zuvela BELGRADE | Sat Jul 27, 2013 1:25pm EDT BELGRADE (Reuters) - Serbia's prime minister piled pressure on Finance and Economy Minister Mladjan Dinkic on Saturday to cede one of his portfolios or face being ousted from the Balkan country's coalition government. "It's crucial to have a division of responsibilities by splitting the ministry of finance and economy if we are serious about pursuing our goal of economic and fiscal consolidation," Prime Minister Ivica Dacic told a news conference. The ultimatum comes as the coalition tries to agree a cabinet reshuffle and avert a snap election that would likely delay the start of European Union membership talks from January next year. The two biggest parties, Dacic's Socialists and the national Progressive Party, signaled on Friday that they had agreed how to reshuffle their own ministers, but there was no word from the junior partner, Dinkic's United Regions of Serbia (URS). Without URS's 16 seats, the remaining coalition parties would still hold a slim majority in parliament.




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Jul282013

Personal finance lessons from the Detroit bankruptcy











Dinkic's ouster would likely unnerve investors worried about Serbia's rising budget deficit and public debt, which have all but scuppered hopes of a new precautionary loan deal with the International Monetary Fund. On Friday, Fitch ratings kept Serbia's BB- rating with a negative outlook, citing uncertainty over public finances and public debt, which is projected to reach 65 percent of output by 2014. "The country is running out of time," said Miladin Kovacevic, deputy head of the Serbian statistics agency. "It needs thorough reforms but they will require a fully functional government as soon as possible," he told Reuters. URS is due to hold a leadership meeting on Sunday.












I never reached a point where I had to file bankruptcy, but I did reach a point where I had bills on the table and not enough money to pay them. It was frightening. I had people relying on me not just myself, but my wife and my infant son. I needed to make sure that certain things were provided for them a roof over their head and food in their bellies, for starters.







Baucus Says Finance Panel to Consider Tax Code This Year






Worries centre on trillions of dollars of unsustainable government borrowing, especially by local authorities, that has underpinned the countrys investment-based economy. At the same time non-traditional forms of lending labelled shadow finance have emerged as a counter to Chinas tightly regulated banking system, and are also in the trillions, and growing fast. They are very serious issues right now, said Oliver Rui, professor of finance and accounting at the China Europe International Business School in Shanghai. Chinas new leaders, keen to bring the threat under control, are concerned that if they delay reform then sooner or later the issue will get out of hand, Rui added.







Debt, shadow finance bedevil China?s economy






Its a work in progress, but its a serious work. To contact the reporter on this story: Richard Rubin in Washington at rrubin12@bloomberg.net To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net U.S. Senator Max Baucus Brendan Smialowski/Bloomberg U.S. Senator Max Baucus, a Democrat from Montana, isn't running for re-election and will leave Congress Jan. 3, 2015.




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Jul272013

D.C.?s campaign finance laws need reforming








Baucus Says Finance Panel to Consider Tax Code This Year






News reporters and editors never contribute to editorial board discussions, and editorial board members dont have any role in news coverage. Editorial Board If the Obama administration disapproves of the militarys moves, now is the time to show it. Editorial Board Congress should sign off on the design for this long-delayed project. The board deferred action after referring the matter to the U.S.












The effort faces a series of obstacles, including entrenched interests defending their tax breaks and a partisan divide over how much revenue should be raised from federal taxes. Democrats insist on more revenue to help reduce future budget deficits. Republicans reject that idea and say the deficit should be reduced only through spending cuts. Consensus Needed Rob Leonard, a tax lobbyist at Akin Gump Strauss Hauer & Feld LLP in Washington, said Baucus must lay out a complete proposal that best reflects his sense of where he can find consensus on the Finance Committee, which has 13 Democrats and 11 Republicans. A chairman usually does not -- and in this case wont -- go into a room with a lot of surprises, said Leonard, a former House Democratic staff member whose clients include United Technologies Corp.







Yarmouth finance department could see reorganization






Wolfgang Schaeuble told weekly Bild am Sonntag in an interview that Greece would continue to receive support beyond 2014 if needed and provided the country meets the demands of international creditors. Schaeuble was quoted as saying "it's certain, however, that there will be no second debt writedown for Athens." Extracts of the interview, to be published Sunday, were released by the paper Saturday and confirmed by the Finance Ministry. With Germany's general election two months away, Chancellor Angela Merkel's conservative government has been at pains to appear firm on Greece's international bailout, which is unpopular with many Germans. Last year Greece's debt was restructured with private-sector bondholders.







Report: German finance minister insists there will be no 2nd debt writedown for Greece






The board voted unanimously to adopt Hincheys proposal. Heir apparent to the finance director position is Yarmouths current financial analyst Edward Senteio, whose background in software development, Hinchey said, suits him to the more technical side of town finances. After reviewing a number of candidates for the position of finance director, and interviewing three finalists at its previous meting, the Yarmouth Board of Selectmen voted this week to hire none of them, and to begin the process of reorganizing the towns finance department instead. In presenting the new plan, Town Administrator William Hinchey told the board that the search for a new finance director had failed to reveal a candidate with all the skills and qualities necessary for the position. That failure, he said, was due more to the evolving nature of the position than to any shortcomings of the candidates.




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Jul272013

How Finance Fueled Students' And Nonprofit's Future








Report: German finance minister insists there will be no 2nd debt writedown for Greece






Due to their staggering growth, they requested a loan from RSF to help them invest in better equipment. RSF gave us the responsibility to perform financial analysis and draft a credit memo for evaluation. This experience was invaluable as it provided us with broader exposure to the entire investment process by evaluating a potential borrowers financial strength and, more importantly, its social impact. We interviewed the borrowers CFO and presented our findings to RSFs credit committee for final approval. With this experience under our belts and with the knowledge that there are innumerable nonprofits that could benefit from impact investments, we devised sofiwire.com , a database for social enterprises to search for funding given their individual characteristics.










Council has unfortunately failed to act on the proposal, which was submitted by Mayor Vincent C. Gray (D) last year. Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale.







D.C.?s campaign finance laws need reforming






Wolfgang Schaeuble told weekly Bild am Sonntag in an interview that Greece would continue to receive support beyond 2014 if needed and provided the country meets the demands of international creditors. Schaeuble was quoted as saying "it's certain, however, that there will be no second debt writedown for Athens." Extracts of the interview, to be published Sunday, were released by the paper Saturday and confirmed by the Finance Ministry. With Germany's general election two months away, Chancellor Angela Merkel's conservative government has been at pains to appear firm on Greece's international bailout, which is unpopular with many Germans. Last year Greece's debt was restructured with private-sector bondholders.









Debt, shadow finance bedevil China?s economy






Markus Rodlauer, the IMFs mission chief for China, told reporters that much non-traditional finance was really innovative new forms of financial intermediation. But while they have their good sides, he said, they also have their risks. Bank supervisors cant really keep up with the new instruments and the fast growth, he said. It creates questions for credit quality, liquidity management. Though economists see the problem as serious, they also say that if defaults on local government debt - which have so far not happened - begin to ripple through the system, the government has plenty of ammunition to contain them.




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