Andrew Mason will remain CEO of Groupon Inc (GRPN), a company spokesman said on Thursday after the company’s board met to debate the performance of the daily deal company’s co-founder. On Wednesday, Mason said directors would question his suitability as leader of a fledgling company that has lost almost four-fifths its market value since debuting in 2011. He said he was ready to fire himself, if that was what was decided at the regular Thursday meeting. Spokesman Paul Taaffe said after the meeting concluded that there had been no changes and Mason was staying on as CEO. “The board and [...]
Mortgage rates were unchanged this week as investors hedged their election bets. The benchmark 30-year fixed-rate mortgage was unchanged at 3.57%, according to the Bankrate.com national survey of large lenders. The mortgages in this week’s survey had an average total of 0.4 discount and origination points. One year ago, the mortgage index stood at 4.25%; four weeks ago, it was 3.59%. The benchmark 15-year fixed-rate mortgage fell to 2.88% from 2.89%. The benchmark 5/1 adjustable-rate mortgage was unchanged at 2.72%. Weekly National Mortgage Survey Results of Bankrate.com’s Nov. 7, 2012, weekly national survey of large lenders and the effect on [...]
NEW YORK Markets for stocks, options and other exchange-based derivatives will remain closed on Tuesday due to Hurricane Sandy, the top exchange operators said on Monday, when markets were also shut. No decision had been made on whether to reopen on Wednesday, when the worst of the storm was to have passed the financial center of New York, according to NYSE Euronext , Nasdaq OMX and BATS Global Markets. “We intend to re-open our U.S. markets on Wednesday … conditions permitting; updates will be provided tomorrow,” the Big Board parent said in an email. (Reporting by Jonathan Spicer; Editing by James Dalgleish)
BEIJING China’s factory output should grow faster in the last three months of 2012 than in the third quarter, though the recovery remains clouded by uncertainty in export markets, the Ministry of Industry and Information Technology said on Thursday. Month-on-month improvements in output growth, an apparent turnaround signaled by a private sector survey of purchasing managers and an uptick in preliminary power generation data were all indications of a burgeoning recovery, the ministry spokesman and chief engineer, Zhu Hongren, told a news conference. “The industry sector performance has shown signs of stabilization and we can see an even clearer growing [...]
Mortgage rates bounced up from record lows this week after investors became somewhat more optimistic about the job market in the United States. But refinancers can still grab a good deal while rates are near the bottom — even if they are underwater on their mortgages. 30 year fixed rate mortgage – 3 month trend 30 year fixed rate mortgage – 3 month trend The benchmark 30-year fixed-rate mortgage rose to 3.59% from 3.52%, according to the Bankrate.com national survey of large lenders. The mortgages in this week’s survey had an average total of 0.44 discount and origination points. One [...]
Spain struggles to deal with austerityNicholas Spiro, managing director of Spiro Sovereign Strategy, said the “stage-managed attempt” from Spain’s Prime Minister Mariano Rajoy to control the reform agenda is made difficult by the “moving target” of the country’s downturn.
FRANKFURT German Chancellor Angela Merkel on Friday said she wants Greece to remain in the euro zone, but repeated that she wants to see a report from the country’s troika of international lenders next month before European leaders decide whether to give Greece more time to implement austerity measures and reforms in return for its bailout. Merkel, in a joint news conference with Greek Prime Minister Antonis Samaras after a meeting in Berlin, said she was convinced Samaras’s new government is committed to solving Greece’s woes. Samaras repeated that Greece isn’t seeking more money but needs “breathing space” to implement measures while aiming to restore growth to the recession-wracked country.
Interest rates on new credit card offers remained flat for the third straight week, according to the CreditCards.com Weekly Credit Card Rate Report. The national average annual percentage rate (APR) on new card offers remained at 14.97% Wednesday. This week marks the 21st time this year that average interest rates haven’t moved. The last time average rates changed by close to a full percentage point from one week to the next was in January 2010. The lack of APR activity does not in any way reflect a lack of credit card use, however. A new report from credit bureau TransUnion [...]
Interest rates on new credit card offers held steady for the second straight week, according to the CreditCards.com Weekly Credit Card Rate Report. The national average annual percentage rate (APR) on new card offers remained at 14.97% Wednesday. None of the cards that CreditCards.com tracks featured offer changes this week. That includes changes to promotional balance transfer offers and short-term promotional APRs. The lack of change is nothing new, however. Back-to-back weeks in which card offers remain the same have become the norm this year. For example, this week marks the 20th time this year that average interest rates haven’t [...]
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