| Tougher UK credit card restrictions imposed
Credit card providers are restricting the borrowing powers of some existing customers in an attempt to curb their exposure to rising bad debts. Credit reference agencies have seen a marked increase in the number of card users who have seen their access to credit scaled back in recent weeks. .
Manulife Financial Corporation reports strong revenues and earnings growth
Manulife Financial Corporation today reported shareholders' net income of $1,070 million, an increase of 10 per cent over the third quarter of last year. Fully diluted earnings per share were $0.70, up 13 per cent from one year ago. As well, return on common shareholders' equity(1) was 18.9 per cent, an increase of 230 basis points. Third quarter premiums and deposits rose to $16.8 billion, an increase of 10 per cent over last year due to continued strong sales and growth in recurring premiums and deposits. On a constant currency basis, growth in premiums and deposits would have been 16 per cent. "Our third quarter results reflect the strength and diversity of our businesses and invested assets," said Dominic D'Alessandro, President and Chief Executive Officer of Manulife Financial.
Nippon Steel says on course to record year
TOKYO : Nippon Steel Corp. said on Tuesday its first-half net profit rose 7.5 percent, keeping it on course for another record year thanks to strong demand in emerging economies for its high-end steel. The Japanese company, which became the world's second largest steelmaker after last year's creation of the Arcelor-Mittal behemoth, predicted further growth in its bottom line despite a slight slip in interim operating profits. Nippon Steel said it was putting more production facilities on line and teaming up with foreign partners as it keeps up its focus on making medium-high grade steel used to build cars, airplanes and machinery. "Demand for high-grade steel products continued to expand at a rapid pace, while demand for common-grade steel products remained firm," Nippon Steel executive vice president Kiichiro Masuda said at a news conference.
SAD 21 views merger options
DIXFIELD - The door may still be open for SAD 39 in Buckfield to merge with SAD 21, officials at Tuesday night's directors' meeting said.
SAD 21 Superintendent Tom Ward said anything is possible between now and 2009, when the state requires school districts to be consolidated. One option is tossing out the law, he said, but regardless of what happens his district and SAD 43 in Rumford, SAD 44 in Bethel and Union 37 in Rangeley must go through the consolidation process.
"If we can't make cost sharing work, we stop and discuss that with the commissioner. If we do what we're supposed to, there will be some flexibility," Ward said.
The greatest issue facing SAD 21 is the unequal cost sharing assessment that would happen under the existing state funding formula.
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