Category: General

Oil soars 9 pct as Europe moves to tackle crisis

Posted on by The INO.com Team

By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) Oil soared the most in more than three years after European leaders took surprisingly aggressive steps meant to halt a debt crisis that has undermined the regional economy.

Benchmark U.S. crude jumped by $7.27, or 9.4 percent, on Friday to end the week at $84.96 per barrel in New York. Brent crude, which helps set the price of imported oil, rose by $6.44, or 7 percent, to $95.51 per barrel in London.

The surge could end a nearly three-month decline in U.S. gasoline prices. The national average for gas had declined from $3.94 per gallon in the first week of April to $3.35 on Friday. Continue reading "Oil soars 9 pct as Europe moves to tackle crisis" →

401(k) fee transparency rules take effect Sunday

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By The Associated Press

Federal disclosure rules that go into effect Sunday will make it easier for workers and retirees to see how much their 401(k) accounts are being docked in fees.

As of July, 401(k) providers must clearly disclose to employers for the first time the fees they charge the retirement savings plans for investment management, record keeping, administration and other services. Continue reading "401(k) fee transparency rules take effect Sunday" →

Stocks rally as Europe unveils debt crisis plans

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By DANIEL WAGNER
AP Business Writer

The Dow Jones industrial average jumped more than 200 points, joining a surge in global markets, after European leaders agreed to easier bank bailouts and regional oversight for their troubled financial sector.

Leaders in Brussels unveiled a plan to funnel money to banks directly from a regional bailout fund. They also agreed to ease austerity measures that are causing political unrest and agonizing recessions in Greece and other nations that have received bailouts. Continue reading "Stocks rally as Europe unveils debt crisis plans" →

Choosing an Overseas Bank: First Ask These Questions

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Colleen Murphy, International Man

International Man readers are a savvy bunch, well-familiar with the benefits of a foreign bank account. To recap just a few: financial diversification, access to investment opportunities in other countries, a measure of privacy, and the potential to earn a higher interest rate than your low-yield "savings" account at home. The advantages are numerous, but so are the considerations. Will my money be safe? How will I access the funds? How do I start the process?

Answers to these questions depend entirely on your personal circumstances, and anyone beginning to diversify should seek advice from a qualified professional. Before seeking (and paying) for any advice, it helps to think seriously about your needs and goals. Considering the following points will save you time and money. Continue reading "Choosing an Overseas Bank: First Ask These Questions" →

Stock Indexes Morning Report

Posted on by The INO.com Team

The September NASDAQ 100 closed sharply lower on Thursday as it extended the decline off this month's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last week's high, June's low crossing at 2418.25 is the next downside target. Closes above the 10-day moving average crossing at 2564.62 would temper the near-term bearish outlook. Closes above last week's high crossing at 2628.25 are needed to renew this month's rally. First resistance is this month's high crossing at 2628.25. Second resistance is the reaction high crossing at 2639.75. First support is today's low crossing at 2503.50. Second support is this month's low crossing at 2418.25. Continue reading "Stock Indexes Morning Report" →