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Jul172013

Greece's former finance minister should be prosecuted, lawmakers say









Former socialist Finance minister George Papaconstantinou at the Greek Parliament in Athens on January 17, 2013.

If convicted, he faces a prison sentence. Papaconstantinou served as finance minister from October 2009 to June 2011, and was finance minister when Greece negotiated its first international bailout. Because he is a lawmaker, Parliament has to approve the lifting of immunity before any prosecution can proceed. In a secret ballot late Monday, 220 deputies in the 300-seat Parliament voted in favor of the former minister being prosecuted for at least one charge, and 166 for all three.







Further Progress on Housing Finance






Policy makers judged that a lockup of this aspect of United States financial markets would have an untenable negative impact on the economy. Given the considerably larger size of the mortgage market, one might reasonably expect a similar intervention in a future housing crisis. In this case, government intervention could be seen as latent and unpriced. Even with these challenges, the draft legislation from the House Financial Services Committee represents an important step toward an eventual reform of housing finance that better protects taxpayers and the economy from the misguided incentives and risks of the previous system.







Gov. Cuomo dismisses criticism that he is taking advantage of campaign finance law loopholes






Related Stories Career Government Employee Under Fire ALBANY Loopholes? What loopholes? Gov. Cuomo , in a reversal from his election-year rhetoric, dismissed criticism he is taking advantage of loopholes in campaign finance laws that since January helped him raise more than $6 million, and the Democratic campaign committee an additional $7 million most of which went to fund ad campaigns in support of his agenda.














Flaherty Remains at Finance in Canada Cabinet Shuffle






Flaherty, who has been suffering from a rare skin disease, had said he wanted to remain as finance minister until the country eliminates its deficit, which he forecast will happen in the fiscal year beginning April 2015. Long Serving Flaherty has been Harpers only finance minister, making him the longest serving Conservative at the post in a century. If he stays through 2015, he would become Canada s second-longest serving finance minister since the country was created in 1867. Keeping him at the job may mean a quiet sigh of relief for financial markets because of all the changes at key Canadian economic institutions, Bank of Montreals Doug Porter said.




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Jul172013

WhiteHorse Finance, Inc. Prices Public Offering of $30 Million 6.50% Senior Notes Due 2020











This offering is being made solely by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, from any of the following joint book-running managers: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by e-mailing prospectus.cpdg@db.com or by calling (800) 503-4611; Keefe, Bruyette & Woods, Inc., Attention: Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019 or by calling toll-free (800) 966-1559; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146. About WhiteHorse Finance, Inc. WhiteHorse Finance, Inc. is a business development company that originates and invests in loans to privately held small-cap companies across a broad range of industries.














Gov. Cuomo dismisses criticism that he is taking advantage of campaign finance law loopholes






WhiteHorse Finance, Inc. is a business development company that originates and invests in loans to privately held small-cap companies across a broad range of industries. The Companys investment activities are managed by its investment adviser, H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, L.L.C.







High-ranking D.C. finance official is being ousted






Anthony F. Pompa had been deputy chief financial officer for financial operations and systems since 1997, with duties that included overseeing the citys annual comprehensive audit . The officials, who spoke on condition of anonymity due to the sensitivity of the personnel matter and to protect their relationships with Gandhi, said the CFO explained in private conversations that Pompas impending ouster was related in part to ongoing delays in a project to replace the citys basic accounting software. Efforts to replace the outdated System of Accounting and Reporting, or SOAR, date back to 2009, with a new system expected to be in place by October 2012.










Gov. Cuomo , in a reversal from his election-year rhetoric, dismissed criticism he is taking advantage of loopholes in campaign finance laws that since January helped him raise more than $6 million, and the Democratic campaign committee an additional $7 million most of which went to fund ad campaigns in support of his agenda. RELATED: BOTANIC GARDEN CAN BREAK OUT THE BUBBLY! Those arent loopholes, Cuomo insisted on public radio Tuesday.




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Jul172013

Finance set to surpass tech as most-profitable U.S. industry








Finance Minister rules out gold import ban; urges people to moderate demand






And while the U.S economy keeps growing at a slow-but-steady pace, prolonged recessions in Europe and slowing growth elsewhere have turned hardware and software exports once a strength of the tech industry into a relative weakness. "Technology has a lot more exposure to international markets, and the economic picture overseas isn't as strong as it is here right now," says Sheraz Mian, director of research at Zacks Investment Research. According to Mian's analysis, U.S. financial services companies in the S&P 500 index are expected to report that they earned aggregate profits of $49 billion in the second quarter.









WhiteHorse Finance Inc : WhiteHorse Finance, Inc. Prices Public Offering of $30 Million 6.50% Senior Notes Due 2020






This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of the Notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. A registration statement relating to these securities was filed and has been declared effective by the Securities and Exchange Commission on July 16, 2013. This offering is being made solely by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, from any of the following joint book-running managers: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by e-mailing prospectus.cpdg@db.com or by calling (800) 503-4611; Keefe, Bruyette & Woods, Inc., Attention: Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019 or by calling toll-free (800) 966-1559; or Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146. About WhiteHorse Finance, Inc.








dell

Besides, RBI too, has put restrictions on banks on importing gold. India is the largest importer of gold and is mainly utilised to meet demand of the jewellery industry. The imports stood at around 830 tonnes in 2012-13. In value terms, gold and silver imports are estimated to have declined substantially to USD 2.45 billion in June, from USD 8.39 billion in May. During the first three months of the current fiscal, April-June, inward shipments stood at to USD 18.33 billion in value terms.




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