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Mar 25, 2010

MarketWatch: Personal Finance daily

MarketWatch
Personal Finance Daily
MARCH 25, 2010

Thursday's Personal Finance stories

By MarketWatch



Don't miss these top stories:

The numbers are head-spinning for anyone who's still trying to save up enough to cover more than a few years of general retirement expenses, not to mention kids' college costs and keeping the emergency fund well padded.

But saving another $200,000 or more solely for health costs in retirement? And that's even when you're covered by Medicare? It's hard to fathom, but research from a variety of sources -- private companies on the hunt for your hard-earned cash but also academia -- says it's so.

Or is it? Read Robert Powell's column today for some contrarian opinions on retirement health-care costs.

Of course, the research into those costs doesn't yet account for the new health-reform law, which includes a number of Medicare provisions, including closing the gap in coverage known as the "doughnut hole." Even so, saving early and often is probably not a bad idea.

-- Andrea Coombes , Personal Finance editor

Are retirees' health costs as steep as some say?

Firm after firm spews out reports about how you'll need hundreds of thousands of dollars to cover health-care expenses in retirement. Are those costs real or is this -- as some cynics suggest -- a ploy on the part of investment firms to gather assets and generate revenue?
See Robert Powell.


CONSUMERS

Will bank-reform proposals work to protect consumers from future crises?

Far-reaching legislation aimed at overhauling the nation's financial-services regulatory system is moving forward in Congress, but advocates say some of the proposed consumer protections are too weak.
See full story.


Three ways social-media sites can save you money

Now more than ever people are eager to hang onto every dollar they can, and social-media sites can help you do just that. My parents, who like many Americans have faced thousands of dollars in medical costs, can now turn to places like PatientsLikeMe.com to save 10% or more on their out-of-pocket expenses.
See Jennifer Openshaw.


COLLEGE COSTS

Commentary: Student borrowers get first aid from health-care bill

It will be years before many Americans figure out how they're impacted by the health-care bill signed into law this week by President Obama, and whether they actually benefit. But the law has an immediate potential payoff in my home.
See Chuck Jaffe.


CARS

Toyota ramps up spending on incentives

Toyota Motor Corp. has historically enjoyed selling its cars and trucks without the hefty level of cash-back incentives that U.S. automakers have had to rely upon over the years.
See story on Toyota incentives.


Will algae and beets power your car?

How biofuels might play a role in America's future energy needs and which of the many choices could end up in your gas tank. MarketWatch's Steve Gelsi and WSJ's Russell Gold joins the Digits set to discuss.
 Watch Digits.


HEALTH CARE

Health care no free lunch - just ask Europe

Just as the U.S. enacts its own version of an universal health-care system, Europe is struggling with how to trim costly social-welfare benefits that have acted as a long-term drag on hiring and economic growth.
See MarketWatch's Election Blog.


A strange catalyst in the health-reform battle

What seemed like a shot to the heart ended up being a call to arms. To the casual observer, Scott Brown's election to replace the late Ted Kennedy in the U.S. Senate on Jan. 19 looked as if it would be the death knell for Democrats' efforts to reform the nation's health-care system.
See story on health-reform fight.


Health-care overhaul hit some companies with charges

Caterpillar Inc. and Deere & Co. will see costs increase this year when a government subsidy for retiree drug benefits loses its tax-exempt status under the new health-care law.
See story on health-care overhaul.


Senate approves fixes for health law

Bypassing Republican roadblocks, the U.S. Senate on Thursday approved a sidecar bill meant to fix parts of the landmark health-care law signed by President Obama earlier this week.
See story on Senate approves fixes for health law.


TRAVEL

Which airline fees do you hate most?

If you hate paying airline fees, you have company. A survey finds the most hated fee is tied to choosing your seat.
 Listen to Radio Report.


TAXES

Don't get caught 'phishing'

The IRS is warning taxpayers to be wary of phishing schemes in emails and on Web sites - even Twitter.
 Listen to Radio Report.


REAL ESTATE

Mortgage rates rise but 30-year-fixed still below 5%

Mortgage rates inched higher this week, following bond yields, but the 30-year fixed-rate mortgage managed to stay just below 5%, according to Freddie Mac's weekly survey of conforming mortgage rates.
See Mortgages.


ECONOMY & POLITICS

Jobless claims fall

The number of people applying for unemployment benefits dropped for the third time in four weeks, reflecting a weak but slowly recovering job market.
See story on jobless claims.


Bernanke reaffirms low rates

Federal Reserve Chairman Ben Bernanke says record-low interest rates are still needed to support the U.S. economy. Dow Jones Newswires' Grainne McCarthy joins Simon Constable on the News Hub and parses the chairman's comments.
 Watch Video Report.


INVESTING

Commentary: Going for the earnings growth

Chuck Carlson, editor of the DRIP Investor newsletter, says that the economy is reverting to a "two yards and a cloud of dust" grind-it-out mentality, but that even with slower potential advances, some setbacks are still on the horizon.
Read Your Money with Chuck Jaffe.


Is the stock market overvalued?

Up Almost 70% from last year's lows, critics say the stock market is overvalued. Dow Jones Adviser columnist James Altucher tells Dow Jones Newswires reporter Shelly Banjo why he thinks stocks like Apple, Stec, and Microsoft are still cheap.
 Watch Video Report.

CNBC: Latest Stories Think You Really Understand Enron? Try Again, March 25th, 2010


LATEST STORIES

»click here to see the latest top stories from CNBC.com

FInancial Times: From the World, March 25th, 2010


The Economist: Britain's Economy, March 25th, 2010


Britain's economy

BBC: Business Ans Videos: Deal reached over Greece's debts, March, 25th, 2010


Page last updated at 20:13 GMT, Thursday, 25 March 2010

French President Nicolas Sarkozy and Germany's Chancellor Angela Merkel, 25 Mar 10
France and Germany agree on a safety net involving IMF help for debt-laden Greece - a move that may bolster the euro.

EU-US airline deal on ownership
The latest Open Skies talks on EU-US aviation paves the way for the lifting of restrictions on foreign ownership of US and EU airlines.

BAE in £127m warship contract
The Ministry of Defence announces plans to spend £127m on a new warship for the Royal Navy, the Type 26 combat ship.



NYT: Afternoon Business Update, China Officials Wrestle Publicly Over Currency , March 25th 2010



BUSINESS

China Officials Wrestle Publicly Over Currency
By KEITH BRADSHER
Leaders are engaged in a bitter struggle over whether to allow the renminbi to rise against the dollar or to escalate a war of words with the U.S.

New Funding Proposed to Restructure Dubai World
By LANDON THOMAS Jr. and DAVID JOLLY
Dubai moved to recapitalize two companies at the heart of a meltdown that shook markets last fall, saying that it would inject up to $9.5 billion into Dubai World.

MAGAZINE PREVIEW
Heading Off the Next Financial Crisis
By DAVID LEONHARDT
The case for more — and more nuanced — regulation.

Households Facing Foreclosure Rose in 4th Quarter
By DAVID STREITFELD
Households that are at least 90 days delinquent on their mortgage payment now number at least 1.6 million, a new report says.

U.S. and E.U. Agree to Expand Open Skies Accord
By JAMES KANTER and NICOLA CLARK
The European Union and the United States agreed Thursday to expand a three-year old accord that allows airlines to operate more freely across the Atlantic.

More Business News

Back to Top

Forbes Financial : Wrap Account Ripoff, March 25th, 2010

 

Wrap Account Ripoff
Asher Hawkins
Fee-based brokerage accounts are supposed to be a financial boon to investors. A financial boon to brokers is more like it.

The IRS is Churning Out Tax Liens
Ashlea Ebeling
The IRS is churning out liens, but that isn't translating into more dollars for the federal till.
 
Is There A Right Way To Invest In Gold?
Asher Hawkins
Purists like physical bullion, but most investors prefer ETFs.
 
Why are Big Hedge Funds Investing with Tom Kaplan?
Nathan Vardi
Some big-shot hedge fund managers are following Tom Kaplan's charge into gold assets. Who's Tom Kaplan?
 
Gold Is The Best Hedge Against Looming Inflation
Michael Pento
History shows the metal's value grows as prices rise.

Forbes: Intelligent Investing, March 25th, 2010



Intelligent Investing with Steve Forbes

Features

Intelligent Investing
An Emerging CDS Clearinghouse
Singapore Exchange's Magnus Bocker discusses the importance of an exchange for clearing derivatives trades.
With Steve Forbes
Intelligent Investing
When Local Charities Become State Budget Casualties
Local charities have been hit hard by state belt-tightening. Here's how you can help fill the void.
With Betsy Brill

Video: Intelligent Investing With Steve Forbes

Intelligent Investing With Steve Forbes
IPOs Lining Up In Singapore
Singapore Exchange CEO Magnus Bocker says his market has a solid pipeline of companies waiting to go public.

Reuters: Deals Today, March 25th, 2010










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Good Morning Fernando, THU 25 Mar 2010 
Interest is a murky business in Muslim finance, in which religious doctrine prohibits earning money from money loaned. And while bankers are largely upbeat about the deal being offered by Dubai to bail out Dubai World and its property unit Nakheel, relieved that they are getting anything at all, perhaps they will take some solace from the interest prohibition when they say a final goodbye to any interest they were due.

Dubai World is being recapitalized and Nakheel's bonds are to be paid off -- sans interest -- with $9.5 billion of aid. The funds include about $4 billion from the government of Dubai and a previous loan of $5.7 billion from oil-rich neighbor Abu Dhabi. The plan is Dubai's attempt to restructure some $26 billion in debt held by Dubai World, owner of the QE2 liner and Cirque du Soleil assets. Nakheel is the developer that conjured the emirate's iconic global map made of islands.

Some investors were expecting Abu Dhabi to step in with more cash, but it is apparently done funding its neighbor's excesses. Maybe next boom, they'll be back.

--Chris Kaufman
Dubai offers $9.5 billion for debt deal with no haircuts
MGM sale may be delayed: report
Bharti moves closer to seal $9 billion Zain Africa deal
BA-Iberia merger nears as BA pension fears recede
Peltz not to bid for CKE Restaurants: report
Daimler, Renault may swap "symbolic" stakes: report
AIA senior execs to quit before Prudential takeover
Icahn, Lions Gate trade barbs; shares rise
Australia Woodside dismisses Santos takeover talk
Two tech IPOs, bank IPO soar in debuts

Dubai offers $9.5 billion for debt deal with no haircuts
March 25, 2010 06:52 AM ET
DUBAI (Reuters) - Dubai will recapitalize its Dubai World conglomerate and repay property unit Nakheel's bonds in full, with $9.5 billion of aid for a debt deal promising creditors all their money back in up to eight years.

Full Article
MGM sale may be delayed: report
March 25, 2010 01:17 AM ET
(Reuters) - Metro-Goldwyn-Mayer, saddled with debt of about $3.7 billion, could face a potential delay in the auction to sell itself after its debt holders signaled an unwillingness to settle for a low price, the Wall Street Journal said.

Full Article
Bharti moves closer to seal $9 billion Zain Africa deal
March 25, 2010 02:38 AM ET
NEW DELHI (Reuters) - Bharti Airtel looked set to wrap up its $9 billion deal to buy most of Kuwaiti telecom group Zain's African assets, giving India's top mobile operator a foothold in the frontier market in its third attempt.

Full Article
BA-Iberia merger nears as BA pension fears recede
March 25, 2010 07:40 AM ET
LONDON/MADRID (Reuters) - The proposed merger of British Airways and Spanish peer Iberia could move a step closer on Thursday when Iberia bosses were expected to sign an agreement, as fears over BA's pension deficit recede.

Full Article











REUTERSwww.reuters.com