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Aug122013

Reminder - Fifth Street Finance (FSC) Goes Ex-Dividend Soon








Market Chatter-Corporate finance press digest






As a percentage of FSCs recent stock price of $10.77, this dividend works out to approximately 0.89%, so look for shares of Fifth Street Finance Corporation to trade 0.89% lower all else being equal when FSC shares open for trading on 8/13/13. Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com Below is a dividend history chart for FSC, showing historical dividends prior to the most recent $0.0958 declared by Fifth Street Finance Corporation: In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from FSC is likely to continue, and whether the current estimated yield of 10.67% on annualized basis is a reasonable expectation of annual yield going forward. The chart below shows the one year performance of FSC shares, versus its 200 day moving average: Looking at the chart above, FSCs low point in its 52 week range is $9.66 per share, with $11.13 as the 52 week high point that compares with a last trade of $10.79.







Michigan Finance Authority to sell $92 mln notes - market source






* Russia's Onexim group, owned by tycoon Mikhail Prokhorov, is in talks to buy half of mobile phone retailer Svyaznoy, Kommersant newspaper said on Friday, citing sources. * CVC Capital Partners Ltd and KKR & Co have expressed interest in buying Neiman Marcus Inc, the luxury retailer that filed for an initial public offering in June, Bloomberg reported, citing people familiar with the matter. () * Starboard Value LP, an investor in Smithfield Foods Inc , approached buyout firms and meat processors to encourage them to form a bidding group to derail a Chinese takeover, said two people familiar with the process, Bloomberg reported. ()









Finance and Accounting Employee Confidence Index Soars in Q2 as Macroeconomic Confidence Improves






Markets closed Stock Watch Finance and Accounting Employee Confidence Index Soars in Q2 as Macroeconomic Confidence Improves Press Release: The Mergis Group 8 hours ago Print BOSTON, Aug. 12, 2013 /PRNewswire/ -- Confidence among U.S. finance and accounting workers hit a high in the second quarter of the year, spiking nearly 10 points from the previous quarter and reaching levels not seen since before the recession. The current index score is the highest since Q3 2007. According to The Mergis Group Finance and Accounting Employee Confidence Index, employee outlook among finance and accounting workers on job security, hovered 10 points above the national average.








FSC+Dividend+History+Chart

19, said a market source on Monday. JP Morgan is the lead manager on the sale. Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links.




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Aug122013

Greek finance ministry fined over massive tax data leak








Fix the mortgage finance system






The country's bureaucratic and inefficient tax collection system is one of the reasons it slid into a debt crisis. Modernizing it is a key element of its 240-billion-euro EU/IMF bailout. The Hellenic Data Protection Authority said the General Secretariat for Information Systems (GSIS), the public sector's biggest data centre which falls under the finance ministry, was guilty of breach of duty. A 35-year-old computer programmer has been accused of hacking into finance ministry servers last year and stealing the personal data of roughly two thirds of the country's 11 million population. The programmer, who was arrested last November and is awaiting trial, is suspected of attempting to sell 9 million files containing identification card data, addresses, tax ID numbers and licence plate numbers.














Obama Endorsement Builds Momentum for Housing-Finance Overhaul




Obama Speech on U.S. Economy, Housing Market

Taking the path of least resistance and allowing the GSEs to again entrench themselves deeper and deeper into our system of housing finance would be irresponsible and foolish, Corker said in a statement. Its time to seize on the growing momentum to move beyond the broken Fannie and Freddie model. To contact the reporters on this story: Cheyenne Hopkins at Chopkins19@bloomberg.net ; Clea Benson in Washington at cbenson20@bloomberg.net To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net 30:16 Aug. 6 (Bloomberg) -- President Barack Obama speaks in Phoenix about progress made in repairing the nation's economy and housing market, and his proposals to help complete the housing recovery. The president said private capital must take a bigger role in the nations mortgage market with the U.S.







NY finance official on the warpath against Native American payday lenders






We cant help but think that an overzealous regulator is discriminating against tribes by targeting us, he said. Tribes have long suffered under the hands of both the federal and state governments, and state governments are very jealous of their jurisdiction. Tribes are used to having to fight against states. Financial experts also weighed in, saying that Lawskys demand for the lenders to shut down is unwarranted and would limit consumer options. New York consumers who take out these supposedly short-term loans quickly get caught in a vicious cycle of long-term debt, the letter reads . The loans become difficult if not impossible to pay off due to the triple- and quadruple-digit interest rates, together with overdraft fees. But John Berlau, a scholar from the free-market Competitive Enterprise Institute, says Lawskys claim is misleading.










After five years, though, there is movement toward reforming a big part of the system. At the moment, the market for new mortgages is almost entirely government-backed through Fannie Mae, Freddie Mac or the Federal Housing Administration. In Phoenix on Tuesday , Mr. Obama rightly argued that the situation must change, that private finance should again be the backbone of the system.




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