SEC Lawsuit Against Bank Of America Should Proceed, Says Judge

On Monday, a federal judge recommended that U.S. Securities and Exchange Commission (SEC) should pursue a lawsuit against Bank of America Corp over $855 million of mortgage securities that soured during the global financial crisis.

Four days after urging dismissal of a related Department of Justice civil lawsuit, U.S. Magistrate Judge David Cayer in Charlotte, made the recommendation. This ruling is seen by many as a possible setback for government efforts for fighting fraud by Wall Street in the sale of mortgage securities.

“We are reviewing the magistrate judge’s recommendation carefully,” bank spokesman Lawrence Grayson said.

Both recommendations are subject to review by U.S. District Judge Max Cogburn in Charlotte. District judges are not bound by the recommendations of magistrate judges but often follow them.

Bank of America was accused by authorities of misleading Wachovia Corp, now part of Wells Fargo & Co, and the Federal Home Loan Bank of San Francisco about risks in the $855 million offering that dates from early 2008 and backed by 1,191 “jumbo” adjustable rate mortgages that proved less safe than expected.

The case is SEC v. Bank of America Corp et al, U.S. District Court, Western District of North Carolina, No. 13-00447.

Asian Stocks Tumble As Ukraine Crisis Worsens

On Friday, Asian shares dropped to a low of one months and the Japanese Yen pushed higher as growing tension in Ukraine drove investors out of riskier assets.

Asian Stocks Tumble As Ukraine Crisis Worsens

Thursday’s disappointing Chinese economic data added to the gloom while solid U.S. retail sales and employment data reinforced expectations that the U.S. Federal Reserve will continue with its plan of gradually withdrawing its asset-buying stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.1 percent to touch its lowest level since mid-February and on track for a weekly loss of more than 2 percent. As the Yen soared, Japan’s Nikkei stock average .N225 skidded 2.7 percent to a one-month low, on track for a weekly loss of more than 5 percent.

“Investors are unwinding their long positions in the Nikkei and short positions in the yen,” said Kyoya Okazawa, head of global equities and commodity derivatives at BNP Paribas.

“Short-term sellers like commodity trading advisors are also big players today and they are also reacting to the falling copper price,” he added.

The Euro slipped about 0.2 percent on the day to 140.97 yen, after a precipitous fall on Thursday from a session high of 143.38 yen to a low of 140.70 yen. The greenback was down about 0.2 percent on Friday at 101.70 yen.

“Incoming data in the U.S. suggest the economy is emerging from weather-related distortions to activity,” strategists at Barclays wrote in a note to clients.

“We continue to expect the Fed to taper its monthly pace of asset purchases by another $10 billion at its meeting next week,” they said.

U.S. Small Businesses Borrowings Increased

In November 2013, U.S. small businesses increased their borrowing from a year ago, according to the Thomson Reuters/PayNet Small Business Lending Index.

U.S. Small Businesses Borrowings Increased

This suggested continued economic growth ahead even as the Federal Reserve starts to reduce its massive monetary stimulus. The index that measures the volume of financing to small companies, rose 1 percent in November from a year earlier, to 111.4, PayNet said. The data also revealed that November had the highest per-day borrowing rate of 2013 despite just 20 working days.

“It’s another sign of continued expansion,” PayNet founder Bill Phelan said. Small businesses “are seeing more demand for goods and services, and that’s all good for GDP.”

Loans are usually taken by small companies to purchase new tools, equipment, and factories that indicate more borrowing can be an early signal of increased hiring ahead.

According to the Thomson Reuters/PayNet Small Business Delinquency Index, delinquencies of 31 to 180 days in November rose to 1.45 percent of all loans made, from 1.44 percent in October.

Real-time loan information such as originations and delinquencies from more than 250 leading U.S. lenders is collected by PayNet. The lending index of PayNet has historically correlated to overall economic growth one or two quarters in the future.

Dollar And Asian Stocks Subdued

In early trading on January 17, the dollar struggled to rise as Asian stocks creaked lower after being unable to shrug off the impact of downbeat results on Wall Street.

Dollar And Asian Stocks Subdued

The dollar index that tracks the greenback against a basket of six major currencies held its ground on the day at 80.943 .DXY. But the US dollar slipped 0.1 percent against the yen at 104.34 yen and edged down to euro at $1.3612.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 0.2 percent, while Australian shares .AXJO skidded 0.4 percent and Japan’s Nikkei index .N225 dropped 0.8 percent.

“U.S. companies whose earnings have a big impact on the global economy disappointed the market, so it is triggering selling,” said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

“The market has not made much of the news with regard to global growth, though, as oil prices remained broadly unchanged and non-financial stocks broadly outperformed,” strategists at Barclays said in a note to clients.

In early trade on Friday, Gold was steady at $1,243.60 an ounce, after U.S. data showed more strength. U.S. crude futures rose about 0.1 percent to $94.07 a barrel. The Australian dollar slumped 0.2 percent to $0.8806 after news that economy of the country shed 22,600 jobs in December, when economists had expected a small increase.

HSBC Banking On Digital To Improve Brand Perceptions

HSBC is making efforts to ensure that its services can be accessed, whenever and wherever, by customers in a bid to understand its customers and boost brand perceptions.

HSBC Banking On Digital To Improve Brand Perceptions

HSBC Chief digital officer Josh Bottomley, speaking at The Marketing Society’s Creativity For Commerce conference in London, remarked that is key to finding the products and services that customers didn’t even know they want.

“Digital can play a big part in building our brand by showing that we understand customers by providing the services that they need and introducing things they didn’t even realize they needed.

“We need to test a lot of those areas and see which ones stick to find out how customers fit us into their daily lives. That reengages our customers in what we do well and how we’re helping people,” he added.

Bottomley believes that knowing what customers want from their banks may seem relatively easy. “One of the big challenges is how we reconcile security and access. The vast majority of our customers are multichannel, but there are still certain things that, for security reasons, we can’t do in digital.

“We have to make sure that is an easy experience, to go from digital to the contact centre to the branch. That is why we have started, in certain places, to give staff tablets that they can work with and make sure the customer experience is always the same.”

How To Speed Up Billing Processes With Free Invoice Templates?

If you are running a small or home-run business and billing processes leave you concerned, it is time you embrace the innumerable benefits of free invoice template.

How To Speed Up Billing Processes With Free Invoice Templates

One of the biggest advantages of invoice template free is that you can easily and quickly create an invoice, even if you have little experience in invoice creation. Easy to use, free invoice templates can speed up your work in quick time. Also, you can quickly send the invoices to your customers and all these processes would take no more than just 5 minutes. This also means that you will be saving a good amount of money on traditional mails that are often characterized by long delays, bad handling, and lost in transit cases. Also, you are spared from creating painstaking handwritten receipts.

A free of charge invoice template can also help you itemize the details of your business like parts, fees, and labor and the unit price, quantity, payment deadline, discounts (if any), and taxable status of specific items. A totally free template is also an ideal choice for budding entrepreneurs who want to cut down on their initial and operating costs without compromising on the quality of the final deliverables.

The best thing is that you can use these free invoice templates for multiple times. Furthermore, you can even opt for design and layout customization according to the specific requirements and preferences of your business. Moreover, you can easily select the best invoice templates free ( has invoice templates free).  To make the right choice, you first need to identify the total requirements of your business as far as templates are concerned. The free templates should be flexible to incorporate the name and address of your company, contact information, very short description of products and services offered, and terms of payment.

Last but not the least, it is always suggested that you prefer quality over quantity to ensure the reputation of your business stays high and intact.

Best Video Production Company To Promote Your Business

When it comes to producing contextually-relevant videos to promote your products or services, the services of a reputed corporate video production company can be more than just useful. This is not just because professional video production companies have the expertise and resources to develop appealing videos with advertising in mind, but also because they can even assist you with organic promotion.

Best Video Production Company To Promote Your Business

If that was not all, these companies like corporate video production San Francisco can even help a small or medium-sized business give a run for their money to big and already-established brands by being more creative and doing a better job of targeting and reaching customers. Since these production companies have dedicated and experienced teams of knowledgeable professionals who know how to keep customers glued to a website, they do a great job of promoting the prospects of your business.

They also can assist business owners and managers in what kinds of videos will be appreciated by customers and in what all ways can the videos lead to revenue increases. These innovations can then lead to increased sales and profits and moving marketing in a rewarding direction. By hiring such specialized services, you can always be assured of the fact that the video content and campaigns stay online without any issues and work for you 24/7 so that the objective of your business to minimize the overall per-unit spending keeps on reducing over a period of time.

While selecting the best video production company, it is very important for you to first identify and prioritize your requirements. Once that has been done, the surrounding activities can easily be leveraged to revolve around the requirements and calls to action. This will then help in creating an environment where customers know what they are supposed to buy, what benefits they can expect, and how easily they can purchase it.

Detroit Files For Bankruptcy Protection

Detroit, the symbol of US industrial might, has become the biggest U.S. city to file for bankruptcy. Once the global headquarters of auto industry that was home to the Big Three (General Motors, Ford, and Chrysler), the city filed for bankruptcy protection after piling up a debt of $18.5 billion.

Detroit Files For Bankruptcy Protection

The famed city became the largest US municipality ever to go broke in seeking chapter 9 protection. The decline of Motown has been extensively chronicled since its decamped manufacturing prowess, initially to neighboring Canada and Mexico, and more recently to China and India. Unemployment rate is over 18% and only about 700,000 people live in Detroit today, less than half its 1950 population.

“They are facing a financial situation that has been brewing for decades,” Mike Lafaive, a public policy expert at a Michigan think-tank said describing the bankruptcy declaration as largely uncharted territory. “We haven’t seen the type of numbers we’re looking at in Detroit or anywhere else.”

Kevin Orr, a bankruptcy expert hired by the State in March to stop Detroit’s fiscal free-fall, said Detroit would continue paying its bills and employees.

Michigan’s Republican governor Rick Snyder says this is the best chance of Detroit to reinvent itself. I know many will see this as a low point in the city’s history,” Snyder wrote in a letter authorizing the bankruptcy filing. “If so, I think it will also be the foundation of the city’s future. Now is our opportunity to stop 60 years of decline.”

Tips Before Using eCommerce Website Builder

Before using an eCommerce website builder, you have to make sure that it will give you all of the different parts that your site needs. You are not going to be writing any of the code yourself, so these things have to be built for you. Below are three different things that all site builders should offer to you, among others.

Tips Before Using eCommerce Website Builder

A Storefront
The most important part of the site is the storefront. It needs to display your wares in an attractive format that makes people want them. The site should also make it easy for people to find what they are looking for. If they have to work too hard, they are just going to look for another site.

A Virtual Cart
Next, your site needs to have a virtual shopping cart. This has to have the ability to keep track of the items that people store in it, even if they do not check out right away. It should be able to add up all of the costs, factor in the tax and shipping, and give them a total. At the end, it should allow people to input payment information.

A Blog
Finally, you must have a blog on your site so that you can give people more information about your products. You should post on the blog every day to get traffic to your site. It is also good to look for a blog that allows users to comment so that they can ask any questions that they have.

Why To Choose Effective Online Video Marketing?

Believe it or not, online video marketing has emerged as one of the latest and hottest trends to establish a strong marketing presence.

In the last few years, you must have seen the surge in the count of videos on many blogs and websites and even sites like YouTube. These videos also show up on top pages of search engines and this all surely suggests that marketing through videos is slowly yet steadily captivating the present day online world. It also means that using videos to promote your products, services, and business is easy and rewarding with this form of marketing.

Why To Choose Effective Online Video Marketing

One of the biggest advantages of online video marketing is that there are more than 4 billion views per day on YouTube alone, which means that the existing and potential customers of your business are already admiring this form of business promotion. All you need to do is to communicate the benefits and unique selling proposition of your products and services through videos and upload them to such sites. By doing this, customers looking to buy products offered by you or similar products will land up on your website. After this, it is easy for you to close sales deals and promote your brand like never before.

To access smart video marketing solutions, you just need to make a quick search on a search engine like Google for Arizona video production. By doing this, you will be able to harness the innumerable benefits of video sharing that is already a huge part of social media and our lives these days. Moreover, you can easily and economically get your product or service message out there to the targeted customers in a shareable way.

You can even visit the website of Film Creations that was established in 1978 and is Southern Arizona’s oldest and most experienced production company.