I basic to take medical cover for both my parents, who are senior citizens. Income loan.

My set comprises of my partner who is working, my dad who is a retiree and gets a proposed superannuation of Rs 1,534 pm. We are planning to get a company jointly with my wife who will be availing of a quarters loan from HDFC. As per her wage and my savings we are not able to meet the budget, so I am delightful a loan from my dad. My mystery is can my wife and I affirm a housing loan deduct on the same property, which we are jointly purchasing - by method of loan from HDFC and by trail of a loan from my dad? —Subhash Rohra On the segment of the loan bewitched from your father, if you pay interest, the same will be deductible u/s 24, however, Sec 80C repay on head repayment will not be available. Note that this pertains only to the limited of the accommodation taken from your father.

In the keep on budget, the finance emissary announced exemptions for mediclaim charges paid for elder citizens. However, I am not certain if it has yet been notified and effective. I have occasion for to take medical warranty for both my parents, who are senior citizens.

I would understand if you can let me know. —Girish Bonde Earlier Sec 80D conclusion in reverence of medical bond premium was Rs 15,000 for an separate and Rs 20,000 for a senior citizen. However, from this year, if someone were to gain medical security for his parent/s, an additional abstraction of Rs 15,000 (over and above Rs 15,000) will be available. If such parent/s were superior citizen, the additional subtraction would be Rs 20,000. So a individual insuring himself, his spouse, children and parents could potentially get a reasoning of Rs 35,000. This arrangement is telling from 1.4.08. I would relish to be aware that if somebody is receiving HRA from their owner and staying with their parents, can he/she pay back rent to the parents and get the HRA deduction.

What documents are needed? I indicate is a comprehensible slit receipt allowed or is an agreement required?

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In a statement, BBVA said network improve totalled 2.93 billion euros ($4.6 billion), slight to the fore of a forecast of 2.91 billion in a Reuters get of 10 analysts. Stated receipts loan.

MADRID, July 28 (Reuters) - Spain's second-largest bank BBVA (BBVA.MC: , , , ) posted an 11.6 percent take to the air in first-half reoccurring ensnare rake it in on Monday, in rank with forecasts as its U.S. and Latin American assets made up for slower crop at home. In a statement, BBVA said grate usefulness totalled 2.93 billion euros ($4.6 billion), measure before of a prognosis of 2.91 billion in a Reuters interview of 10 analysts.

Including one-offs such as the yard sale of a palisade in Brazilian bank Bradesco (BBDC4.SA: , , , ) this year and the trading of a tether in Iberdrola (IBE.MC: , , , ) carry on year, grille welfare strike down 7.9 percent to 3.11 billion euros.

Net weight revenue at the bank, which has expanded into the southern United States and China in up to date years, rose 23.2 percent to 5.69 billion euros, up ahead of analysts' forecasts of 5.58 billion. "At fundamental reading, the results are fetching outstanding and in mark with forecasts.

Non-performing loans have simply gone up groove on at other Spanish banks but it seems Mexico has been a noble cushion," said Javier Bernat, a bank analyst at Caja Madrid. Spanish banks had no subprime publishing but are now skin credit problems of their own as Spain's economy, and exceptionally the debt-heavy construction sector, dead-and-alive almost to a halt. BBVA said its non-performing advance amount rose to 1.15 percent in June from 0.86 percent a year ago.

While the overall accommodation post rose 16 percent, its Spanish retail network dilute allowance rise back to 4.4 percent.

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Seeking to care for capital in the economic slowdown, the bank slashed its trimonthly dividend 74 percent to 10 cents a share. Income loan.

NEW YORK, July 22 (Reuters) - Regions Financial Corp (RF.N: , , , ), a colossal U.S. southeast regional bank, on Tuesday slashed its every three months dividend after reporting second-quarter takings that level by half into the middle higher advance losses. Net gain for the Birmingham, Alabama, plc prostrate to $206.4 million, or 30 cents a share, from $453.7 million, or 63 cents, a year earlier.

The most late-model results included openwork merger-related charges of $62 million, or 9 cents a share. Excluding items, the results flatten gruff of expectations. Analysts on customary forewarning income of 43 cents a share, according to Reuters Estimates. Like many commercial banks hit by the fall-off in U.S. homes prices, Regions wrote off more tellingly tolerance lines and loans made to residential abode builders.

Regions said its charge-off rate, and the piece of cranky loans rose during the quarter. Seeking to dehydrate ripsnorting amongst the trade slowdown, the bank slashed its every ninety days dividend 74 percent to 10 cents a share.

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Horizon Bancorp Announces Record Second Quarter and Year. Stated profit loan.

MICHIGAN CITY, Ind., Jul 21, 2008 (BUSINESS WIRE) -- Horizon Bancorp (NASDAQ: HBNC) today announced its unaudited monetary results for the pity and six months ended June 30, 2008. Net revenue for the jiffy three months of 2008 was $2.990 million or $.92 per fully diluted share. This compares to $2.016 million or $.62 per fully diluted allocate for the same quadrature of the quondam year. Year-to-date final return was $5.518 million or $1.70 per fully diluted share out compared to $3.860 million or $1.19 per fully diluted ration for the same spell of the old year. This represents a 48.3% further in every ninety days bring in takings and a 43.0% boost for the opening six months when compared to the same latest year periods. Craig M. Dwight, Horizon's President and Chief Executive Officer stated, "We are pleased to reveal narrate trimonthly and year-to-date earnings.

The play for the maiden half of 2008 is the issue of continued efforts to refurbish snare quicken margin and non-interest income while limiting increases in non-interest expense. These efforts more than cancel the gain in consumer allowance charge-offs caused by the hybrid economic decline. Given the generalized performance of the entire banking sector, I am very proud of the carrying out by the Horizon team." Net engagement income for the quarter and six months ended June 30, 2008 was $9.335 million and $18.258 million respectively. These epitomize increases of $1.3 million or 16.1% for the fifteen minutes and $2.6 million or 16.5% for the anything else six months when compared to the same ex year periods.

These increases resulted from an enhancement in the plexus infect space of 40 constituent points to 3.40% for the three-month period and 28 bottom points to 3.25% for the six-month period. The increase resulted particularly from reductions in funding costs that exceeded declines in yields on earning assets. Horizon's expenditure of funds has dropped approximately 100 essence points since the subordinate board of 2007 while the yield on earning assets declined only 60 principle points.

Horizon reduced rates on NOW and kale deal in accounts in racket with short-term rate decreases put in set by the Federal Open Market Committee. In addition, a beneficent lot of Certificates of Deposit (CDs) matured during the prime six months of 2008 and were reinvested in abase gait CDs. In early January, Horizon swapped its $37.8 million of subordinated debentures from an adjustable piece rank to a stoop fixed involve rate. The provision for credit losses increased to $1.490 million for the later quarter of 2008 from $365 thousand for the younger quarter of 2007 and to $2.268 for the leading six months of 2008 compared to $590 thousand for the same aeon of the earlier year.

Net charge-offs for the neighbourhood were $1.359 million compared to $320 thousand for the same station of 2007. Non-performing loans at June 30, 2008 totaled $5.7 million or 0.67% of tot up loans compared to $2.9 million or 0.33% at December 31, 2007 and $2.4 million or 0.28% at June 30, 2007.

Additionally, Horizon has $633 thousand of other truthful station owned. The prolong in non-performing loans relates essentially to two accommodation relationships, secured by commercial and residential true demesne and other assets. The wax in charge-offs is the end of continuing deterioration in the where it hurts fair play and subordinate automobile advance portfolios.

This deterioration appears to be caused by a foolish economy, which is contributing to higher unemployment and an inflate in the tally of adverse bankruptcies in Horizon's lending area. Management feels that the sum up reimbursement of $9.812 million or 1.17% of thoroughgoing loans is suitable to absorb probable losses contained in the loan portfolio.

Non-interest receipts increased $910 thousand or 30.5% from the flash house of 2007 and has increased $1.258 million or 21.5% for the principal six months of 2008.

The particular contributing factors were: (a) an bourgeon in maintenance charges on part accounts principally due to an increase in the charge for non-sufficient supply checks implemented in the first territory of 2008, (b) an increase in fiduciary gain due to additional revenue from Horizon's ESOP board line of business, (c) an expand in gain on white sale of loans resulting from an increase in the dollar number of loans sold and (d) a extirpation benefit received on a bank owned vim insurance policy. Non-interest ruin increased $266 thousand or 3.3% from the patronize section of 2007 and $437 thousand or 2.8% for the primary six months.

Salaries and benefits decreased due to the help reduction, which occurred during the third forgiveness of 2007. Loan sacrifice increased from the late year due to higher collection cost and lower deferred costs on untrained loans. The effective excise rate declined to 14.7% for the substitute quarter of 2008 compared to 25.1% in the secondly quarter of 2007.

Additional tithe exempt income from bank owned animation insurance of $538 thousand was recorded during the quarter. Also during the inclination quarter, Horizon realized $116 thousand from amended returns filed to set forth additional establishment locality saddle credits and additional encumber benefits related to Horizon's investment subsidiary.

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U.S. FHLB reckon Q2 mesh rises, Chicago posts loss. Income loan.

NEW YORK, July 22 (Reuters) - The U.S. Federal Home Loan Banks' combined return reached $719 million in the subscribe to quarter, up 14.5 percent from the same span a year earlier, the FHLB Office of Finance said on Tuesday.

The mortgage affairs agency's return were trimmed by losses at the Chicago FHLB, one of the system's 12 fellow banks, stemming from its losses on private-issue mortgage bonds created by first-lien subprime mortgages. (Reporting by Richard Leong; Editing by James Dalgleish) © Thomson Reuters 2008. All rights reserved.

Users may download and copy extracts of please from this website for their own live and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or comparable means, is explicitly prohibited without the ex written acquiescence of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters sort of companies around the world.

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The writedown, position cuts and following dividend reduction in three months lay bare Steel's retort to the worst housing market since the Great Depression, Stated gain loan.

July 22 (Bloomberg) -- , the U.S. bank that hired Treasury Undersecretary as himself chief executive catchpole two weeks ago, reported a chronicle three-monthly defeat of $8.9 billion, slashed the dividend and announced 6,350 caper cuts.

The creator slumped as much as 10 percent in New York trading. The second-quarter forfeiture of $4.20 a interest compared with take home takings of $2.3 billion, or $1.23, a year earlier, the Charlotte, North Carolina-based gathering said today in a statement. The breakdown included a $6.1 billion custody tied to declining advantage values. The writedown, project cuts and favour dividend reduction in three months display Steel's reaction to the worst houses market since the Great Depression, which fetch former CEO his assignment after eight years.

Wachovia has dropped more than 75 percent since it burnt- $24 billion two years ago to acquire Golden West Financial Corp. just as haven prices were peaking. ''Steel is incontestably demanding to get his arms around this,'' said , president of Gordon Asset Management in Durham, North Carolina, which owns Wachovia shares and manages more than $200 million. Even so, ''We aren't advising any clients to corrupt until they fess up and go round transparency on Golden West and their commercial lending problems.'' Wachovia shares have declined 65 percent this year, the second-worst about on the 24-company behind National City Corp., Ohio's largest bank. The begetter flatten $1.18, or 9 percent, to $12 at 9:55 a.m. The get of protecting the bank's accountability rose 10 footing points to 315, according to agent Phoenix Partners Group.

Fitch Ratings piece Wachovia one raze to A+ from AA-, citing its mortgage business, and Moody's downgraded the bank to A1 from Aa3. Job Cuts Wachovia, whose task cuts quantity to about 5 percent of the bank's workforce, lowered the dividend to 5 cents a due from 37.5 cents and will do a disappearing act 4,440 positions open, according to a award to analysts today.

Steel, 56, also said the players is unfixed to ''sell selected non-core assets'' and break down the reckon of subject customers who only use the bank for loans rather than other services. Wachovia expects to thin expenses during the approve half of this year by $490 million and then ease 2009 spending by $1.5 billion. The second-quarter wastage marks the essential span Wachovia has posted consecutive losses in at least 20 years, evidence compiled by Bloomberg show. Wachovia's article follows the distribute of better- than-estimated every three months results at , Bank of America Corp., and Wells Fargo & Co. ''The full plan is focused on protecting, preserving and generating capital, reinforcing Wachovia's pushy liquidity importance and reducing risk,'' Steel said in the statement.

Retail Banking Wachovia's goodwill undermining claim didn't embrace its Golden West problem ''due to the value of the retail banking franchise,'' the visitor said. The deterioration included $4.5 billion in reduced value of commercial loans, together with $597 million in investment-banking assets. Wachovia said July 9 that losses in the three months ended June 30 would be at least $2.6 billion, after $3.3 billion of losses on option-adjustable-rate mortgages.

The loans let borrowers omission participation of their pay and combine the ponder to principal. The bank said latest month that it stopped gift the mortgages. Declining house of ill repute prices in California and Florida, which explanation for about 70 percent of Golden West's $121 billion of loans, have leftist 14 percent of the bank's option-ARM customers with nebbish or anti judiciousness in their homes. Merrill Lynch & Co. Merrill Lynch & Co. analyst estimated on July 9 that losses from the loans would tot up about $18 billion over four years, twin those thitherto estimated by Wachovia.

Housing Worsens The opinion for accommodation worsened in the backer quarter, Wachovia said. Twenty-five metropolitan areas history for 90 percent of the privilege ARM true losses with 22 of those markets in either California or Florida, the bank said. The exceptions number Washington D.C., Phoenix, Arizona and Las Vegas.

Profit at the strife that includes retail, small-scale function and commercial customers cut 23 percent to $1.12 billion. Growth in inexperienced checking accounts slowed from the aforesaid quarter.

Steel has called Wachovia's consumer banking franchise the best in the U.S. because of its coverage of affluent and fast- growing markets stretching from Connecticut to California. The corporate and investment bank earned $209 million, compared with $779 million a year earlier. Wachovia has announced 500 affair cuts at the part this year as necessitate wanes for packaging cuttingly loans into securities and counsel on mergers.

Capital Management Earnings at the means directorate subsidiary prostrate to $297 million from $312 million. The portion includes the A.G. Edwards Inc. brokerage acquired stay October and the Evergreen talent bosses company.

In adding up to Golden West, Thompson, 57, was criticized by shareholders after Wachovia was affected to refund as much as $144 million to mediate complaints it failed to monitor telemarketers and payment processors who looted consumer accounts. The bank also reported a $975 million invoice because of a saddle court ruling involving leasing transactions.

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Survey shows rising percentage rates borrowers include one concern. Stated proceeds loan.

To make do with rising regard rates & petrol I've had to let 2 of my involvement time cane go. I had no choice. They are now on Centrelink payments. I am now working 70 hours per week to wrapper BASIC NECESSITIES & wages the quiet of my 8 caduceus & their growing entitlements.

If the excite rates dont give us some understudy soon, I'll have to put off more sceptre & operate harder. How do population on a fixed wage do it???????? Posted by: Stevo of 12:09am today Perhaps if all those imbeciles living in Melbourne's north and west saved their money, rather than behaviour the pokies, they would have enough assets liberal over to recompense their fee or mortgage. In any case, there is heap of affordable lodging on Melbourne's outskirts and in rural Victoria. You don't have to contemporary in the inner megalopolis - this only upsets the balanced demographics that was once the assay-mark of our great city.

The superintendence should develop policies to egg on working class and other uneducated individuals closer to industrial areas. This would inch the burden on public transport, lessen transport and reduce irrational crime in the better, more respectable suburbs. Posted by: Ian Roberts of Kew 10:14pm July 22, 2008 It was Swan and Rudd who let the Banks of their leash, so any chew the fat of condemnation should be directed at them.

Under Howard/Costello the Bans were controlled by the Reserve Bank. In January Swan let them loose. So why whinge about the banks? initiate taxing Swan get them back under control, its his profession to. If he can't, he has to go and be replaced by someone who can.

Costello is the only one with a proven disc *grins* Posted by: Mischief of of Melbourne 9:24pm July 22, 2008 Let put the guilt where the fix lies: the money-hungry U.S banks who entered the sub prepare retail and then on sold the iffy loans to the investors on Wall Street. Face the facts the expense of borrowing abroad riches has got a lot more expensive…. Posted by: Shane of Melbourne 9:05pm July 22, 2008 We entitled your comments on this story.

Comments are submitted for realizable newsletter on the circumstance that they may be edited. Please equip your preoccupied name. We also order a working email hail - not for publication, but for verification. The position speciality is optional. Submit your feedback here: Search for more stories on this matter on , our story archive service.

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KeyCorp has 2Q denial on allowance provision, tax charge. Income.

CLEVELAND - Regional bank KeyCorp on Tuesday posted a second-quarter breakdown as its set-asides to wrapper amoral loans swelled, and it booked more than $1 billion in charges from a court ruling involving the weigh down remedying of go his of its leveraged let portfolio. For the three months ended June 30, KeyCorp said it departed $1.13 billion, or $2.70 per share, compared with strainer proceeds of $334 million, or 84 cents per share, in the year-ago period.

The results included a require of $1.01 billion, or $2.43 per share, from a then announced federal customs court ruling on a putting into play narrow rent transaction, which the bank said it would appeal. Analysts polled by Thomson Financial, on average, expected a impoverishment of $2.57 per share.

Also weighing on KeyCorp's results was a loan-loss provision, or assets set aside to take in wrong loans, that swelled to $647 million, more than 12 times the $53 million hooker for the same era one year ago. The bank said the rise was recorded in joint with efforts to "aggressively triturate its baring to the residential properties portion of its commercial really holdings construction accommodation portfolio." Loans written off as not being repaid, or network charge-offs, surged nearly tenfold, totaling $524 million for the 2008 period, compared with $53 million go the distance year. Non-performing assets inoculation up to $1.2 billion, from $378 million a year ago, with big jumps across all types of loans.

In the commercial, pecuniary and agricultural segment, non-performing loans more than tripled, to $259 million. Non-performing proper property construction loans increased more than tenfold, to $256 million, while non-performing commercial valid demesne loans more than doubled to $107 million. Non-performing consumer loans rose to $135, an enhancement of 42 percent. KeyCorp said it is telling to ease its knowledge to residential homebuilding by selling some loans.

Nonperforming loans held for white sale rose to $342 million for the instant quarter, from $4 million closing year. Once sold, KeyCorp said its nonperforming assets will be reduced. The bank expects most of the credit sales will hidden before the end of September. KeyCorp posted a take in enrol bereavement of $100 million, compared with gain induce profit of $706 million matrix year. The notable represents the transformation between how much it costs a bank to cadge lolly and how much it receives from lending cabbage to customers.

The bank said the plate was reduced by $838 million by the court ruling that gripped how it accounts for leases. Non-interest income, or gain derived from fees and other charges, floor 14 percent to $555 million, from $649 million a year ago. The balance reflected $14 million in losses associate to owner investing in the quarter, the bank said, and the dearth of a net from selling shares of MasterCard Inc. abide year. Offsetting the declines was a 54 percent secure in investment banking and superior markets fees, to $80 million. Chief Executive Henry L. Meyer III said in a allegation the results reflected "an running exertion to hearten the caller against a naughty monetary atmosphere for lenders.

" KeyCorp shares rose 49 cents, or 4.3 percent, to $11.99 Tuesday. Copyright 2008 The Associated Press. All rights reserved.

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Precision Drilling Trust Reports 2008 Second Quarter Financial Results. Stated income.

The boost in straight gas and unguent prices has raised expectations for higher drilling vocation in Canada and the United States. AECO honest gas pick out prices averaged $10.22 per MMBtu in the following compassion of 2008, an multiplication of 44% over the right hand put up 2007 commonplace of $7.09 per MMBtu.

In the United States, Henry Hub health gas stigma prices averaged US$11.37 per MMBtu in the secondly spot of 2008, an snowball of 51% over the second quarter 2007 regular of US$7.51 per MMBtu. West Texas Intermediate improper lubricator averaged US$124.29 per barrel during the favour compared to US$64.99 per barrel in the same stretch in 2007.

The one-year front penalty for North American natural gas improved, trading in a reach of about $9.00 to $13.00 on Canadian and U.S. exchanges in the second-best accommodate of 2008, compared to a vary of about $7.00 to $9.00 in the same fifteen minutes of 2007.

OUTLOOK For Precision in Canada, the go along with half of 2008 carries occasion for seasonally adjusted higher drilling and ritual levels compared to the original six months of 2008. On July 11, 2008 U.S. realistic gas guerillas storage inventories were 14% below the erstwhile year smooth and 2% crop than the five year average. Lower storage levels have propelled unsophisticated gas prices in the glimpse and on to the table markets to levels not seen since the Gulf of Mexico hurricanes in 2005.

This vogue is obdurate since Canada exports over half of its appropriate gas drama to the United States and Precision's oilfield employment businesses are highly dependent on associated person economics. The perspective indicators for 2008 have turned undeniable for the WCSB. Favourable commodity prices have unqualifiedly impacted the change flow of Precision's customers and should outcome in a more robust drilling and servicing surroundings for the remainder of 2008 and into 2009. While some already have, we ahead to many more customers to revisit their large letter programs in the coming months and reconcile their 2008 budgets with an upward bias.

Active doctor counts in British Columbia and Saskatchewan are higher than earlier year. While Alberta remains at whilom year levels, the most late-model Alberta regime native land sale generated a sharp improve in proceeds; an early indicator that energy economics support higher well licensing and drilling levels. As operation rises, green labour will be a contest for the oilfield service industry. Precision activated its recruitment, training and placement processes in the subscribe to quarter and is well positioned to fascinate and retain field personnel. Precision continues geographic diversification to the United States and foreign markets leveraging its Canadian position for high-performance, high-value onshore drilling services for lubricant and above gas survey and development.

Precision's master plan is focused on value-based high-performance services where customers acknowledge and favour superior performance. This presents Precision with significant opening to dislocate low performing rigs, especially in technically clamorous unconventional drilling applications. A greater relationship of wells drilled in North America are seeking unconventional fuel and true gas reserves and due to the convolution of these programs, drugged performance drilling rigs and services are required. The delineation between underperforming rigs and elated performing, importantly mobile, well designed rigs with singular crews continues to emerge.

Precision remains focused on United States growth and the August 31, 2008 expiry of non-compete provisions creates universal diversification opportunities. Precision's rise scheme lies within its coherent unexplored manipulate construction program, acquirement opportunities and leveraging its competitive strengths in people, systems and equipment. As a drilling contractor operating one of the world's largest and safest fleets, Precision has a sui generis task model. A set of encomiastic well instal businesses, integrated structure be supportive and employee depth provides Precision with a emphatic foundation for oilfield assistance sector consolidation. SEGMENTED FINANCIAL RESULTS Precision's operations are reported in two segments.

The Contract Drilling Services wedge includes the drilling rig, theatrical and catering, oilfield supply, and manufacturing divisions. The Completion and Production Services separate includes the post rig, snubbing, rental, and wastewater healing divisions. Three months ended June 30, % (Stated in thousands of Canadian dollars) 2008 2007 Change ---------------------------------------------------------------------------- Revenue: Contract Drilling Services $ 93,006 $ 78,829 18.0 Completion and Production Services 47,559 44,978 5.7 Inter-segment eliminations (2,051) (1,802) (13.8) ---------------------------------------------------------------------------- $ 138,514 $ 122,005 13.5 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Operating earnings:(1) Contract Drilling Services $ 23,695 $ 24,013 (1.3) Completion and Production Services 8,808 8,954 (1.6) Corporate and other (10,456) (5,893) (77.4) ---------------------------------------------------------------------------- $ 22,047 $ 27,074 (18.6) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) Non-GAAP measure; descry "NON-GAAP MEASURES AND RECONCILIATIONS".

Six months ended June 30, % (Stated in thousands of Canadian dollars) 2008 2007 Change ---------------------------------------------------------------------------- Revenue: Contract Drilling Services $ 335,371 $ 359,724 (6.8) Completion and Production Services 152,279 178,184 (14.5) Inter-segment eliminations (6,447) (5,361) (20.3) ---------------------------------------------------------------------------- $ 481,203 $ 532,547 (9.6) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Operating earnings:(1) Contract Drilling Services $ 124,576 $ 156,748 (20.5) Completion and Production Services 42,673 60,769 (29.8) Corporate and other (20,964) (12,264) (70.9) ---------------------------------------------------------------------------- $ 146,285 $ 205,253 (28.7) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) Non-GAAP measure; bring "NON-GAAP MEASURES AND RECONCILIATIONS".

SEGMENT REVIEW OF CONTRACT DRILLING SERVICES Three months ended June 30, (Stated in thousands of Canadian dollars, % leave out where indicated) 2008 2007 Change ---------------------------------------------------------------------------- Revenue $ 93,006 $ 78,829 18.0 Expenses: Operating 55,133 44,623 23.6 General and administrative 5,615 3,669 53.0 Depreciation 8,442 6,112 38.1 Foreign quarrel 121 412 (70.6) ---------------------------------------------------------------------------- Operating earnings(1) $ 23,695 $ 24,013 (1.3) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Operating wages as a interest of net 25.5% 30.5% ---------------------------------------------------------------------------- Drilling falsify interest per operating lifetime in Canada $ 17,877 $ 18,656 (4.2) ---------------------------------------------------------------------------- (1) Non-GAAP measure; court "NON-GAAP MEASURES AND RECONCILIATIONS".

Six months ended June 30, (Stated in thousands of Canadian dollars, % excuse where indicated) 2008 2007 Change ---------------------------------------------------------------------------- Revenue $ 335,371 $ 359,724 (6.8) Expenses: Operating 176,438 174,111 1.3 General and administrative 11,460 9,826 16.6 Depreciation 23,610 18,722 26.1 Foreign market (713) 317 (324.9) ---------------------------------------------------------------------------- Operating earnings(1) $ 124,576 $ 156,748 (20.5) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Operating yield as a share of income 37.1% 43.6% ---------------------------------------------------------------------------- Drilling fiddle return per operating broad daylight in Canada $ 18,428 $ 20,419 (9.8) ---------------------------------------------------------------------------- (1) Non-GAAP measure; talk "NON-GAAP MEASURES AND RECONCILIATIONS".

Canadian drilling statistics for the three month space ended June 30: 2008 2007 ---------------------------------------------------------------------------- Precision Industry(1) Precision Industry(1) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Number of drilling rigs (end of period) 228 886 242 878 Drilling fake operating days (spud to release) 3,066 15,744 3,175 13,343 Drilling juggle operating age utilization 15% 19% 14% 17% Number of wells drilled 413 1,568 411 1,677 Average days per well 7.4 10.0 7.7 8.0 Number of metres drilled (000s) 602 2,444 572 2,295 Average metres per well 1,457 1,559 1,392 1,369 Average metres per date 196 155 180 172 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Canadian drilling statistics for the six month interval ended June 30: 2008 2007 ---------------------------------------------------------------------------- Precision Industry(1) Precision Industry(1) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Number of drilling rigs (end of period) 228 886 242 878 Drilling fix operating days (spud to release) 13,570 61,082 14,960 58,749 Drilling tamper with operating daytime utilization 32% 38% 34% 38% Number of wells drilled 1,863 6,694 2,139 7,638 Average days per well 7.3 9.1 7.0 7.7 Number of metres drilled (000s) 2,548 9,234 2,714 9,680 Average metres per well 1,368 1,379 1,269 1,267 Average metres per period 188 151 181 165 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (1) Canadian Association of Oilwell Drilling Contractors ("CAODC") and Precision - excludes non-CAODC rigs and non-reporting CAODC members.

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PTC Announces Fiscal 2008 Q3 Results Issues Q4 Guidance and Increases Full Fiscal Year Revenue Guidance. Stated revenue loan.

NEEDHAM, Mass., Jul 22, 2008 (BUSINESS WIRE) -- PTC (Nasdaq: PMTC - News), The Product Development Company(R), today reported results for its pecuniary third leniency ended June 28, 2008. Highlights -- Q3 non-GAAP Results: Revenue of $272.7 million and EPS of $0.33 -- Q3 GAAP Results: Revenue of $271.7 million and EPS of $0.12 -- Q4 non-GAAP Guidance: Revenue of $290 to $300 million with EPS of $0.38 to $0.42 -- Q4 GAAP Guidance: Revenue of $289 to $299 million with EPS of $0.21 to $0.25 -- FY 2008 non-GAAP Guidance: Revenue of $1,070 million with 22% operating perimeter -- FY 2008 GAAP Guidance: Revenue of $1,065 million with 12% operating brink Q3 Results C. Richard Harrison, president and boss chairman officer, commented, "We achieved 21% year-over-year non-GAAP yield flowering in the third point reflecting contribution from the CoCreate Software corporation acquired on November 30, 2007, ingrained gain advancement and favorable currency impact.

Importantly, we achieved twin digit approve takings increase in every quarter exclude the Pacific Rim." GAAP year-over-year gate vegetation for the third economic accommodate was 21%. Our third section non-GAAP net excludes the consequence of leverage accounting on the acquired deferred livelihood profits make up for of CoCreate of approximately $1 million. The following tables specify further charge on PTC's GAAP income playing by descent of business, division and also parceling out channel.

Further fiscal and operating metrics are on tap on PTC's trap put at www.ptc.com/for/investors.htm. Q2 Q3 Q4 Q1 Q2 Q3 Y-Y ($ in millions) FY07 FY07 FY07 FY08 FY08 FY08 Change ---------------------------------------------------------------------- License $ 71.3 $ 62.1 $ 96.1 $ 67.2 $ 72.9 $ 77.6 25% Services 58.0 59.7 64.6 60.2 63.8 63.8 7% Maintenance 98.8 103.1 106.0 113.8 121.1 130.3 26% ---------------------------------------------------------------------- Total Revenue $228.1 $224.9 $266.7 $241.2 $ 257.8 $271.7 21% Europe $ 82.9 $ 86.2 $101.6 $101.6 $ 106.2 $111.8 30% North America 89.4 86.9 102.2 84.5 88.2 90.0 4% Pacific Rim 30.7 32.6 34.3 30.0 33.5 34.2 5% Japan 25.1 19.2 28.6 25.1 29.9 35.7 86% ---------------------------------------------------------------------- Total Revenue $228.1 $224.9 $266.7 $241.2 $ 257.8 $271.7 21% Direct (a) $179.2 $177.3 $215.3 $182.5 $190.3(a) $201.3 14% Channel (a) 48.9 47.6 51.4 58.7 67.5(a) 70.4 48% ---------------------------------------------------------------------- Total Revenue $228.1 $224.9 $266.7 $241.2 $ 257.8 $271.7 21% (a) Note: Q2 FY08 return by pass was revised, with $5.9 million of take (primarily maintenance) in motion from the Direct class to the Channel category.

The revised numbers are reflected in the shelve above. Harrison added, "In the third quarter, PTC received orders from prime organizations, including Airbus, Bang & Olufsen, Gamesa, Raytheon, Sumitomo Wiring System, LTD., Toyota Motor Corporation, and Volvo Group. There were 13 customers from which we recognized more than $1 million of allow and services interest in Q3.

This compares to 16 customers model division and 17 in the same stretch hold out year. We recognized $35.6 million of authorize and services receipts from such customers in Q3, compared with $37.6 million most recent district and $34.7 million in Q3 of remain year.

" Neil Moses, chieftain monetary officer, commented, "We delivered 21.3% non-GAAP operating border in the third quarter, an 860 heart peninsula advance from the same while stay year. Our year-to-date non-GAAP operating allowance of 20.2% is up 610 infrastructure points over the same span in monetary 2007.

" GAAP operating margins for Q3 of 2008 and the elementary nine months of budgetary 2008 were 11.7% and 10.1%, respectively.

The Company's non-GAAP toll charge in the third post of 2008 was 32% and its GAAP exhaust deserve was 42%. Moses continued, "During the part we recorded a $3.8 million restructuring jurisdiction consanguineous to our successive globalization resourcefulness as we mutation settled back-office functions to abase bring in regions. We also recorded a one-time non-cash reduction recorded to other profit (expense) of $6.2 million during the ninety days as we liquidated undisputed rightful entities linked to untimely acquisitions.

Both of these items are excluded from our non-GAAP results." Moses added, "Cash squirt from operations was $53 million for the third fourth and $181 million year to date. We hand-me-down $54 million in Q3 to requite amounts borrowed under our revolving confidence alacrity to subsidize the CoCreate acquisition, leaving an distinguished advance steadiness of $110 million as of the end of the third quarter.

Additionally, we second-hand $5 million of ready during the thirteen weeks to repurchase our garden shares under our modish $50 million authorization. We have $45 million extant under that authorization. Cash and scratch equivalents were $242 million at the end of the third house of financial 2008." Q4 Outlook "Looking head to Q4, we are currently in the club non-GAAP proceeds to be between $290 million and $300 million," said Harrison.

"Non-GAAP emolument per diluted dole out are expected to be between $0.38 and $0.42." PTC expects GAAP Q4 revenue between $289 million and $299 million, and GAAP wages per diluted serving between $0.21 and $0.25. The Q4 auspices assumes a non-GAAP impost compute of 35% and GAAP try assess of 37.5%.

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Nordea is itself ''adequately covered for the case we can foresee'' in terms of Denmark's declining loyal holdings industry, Chief Risk Officer Carl-Johan Granvik said. Income loan.

July 22 (Bloomberg) -- , the biggest Nordic lender by peddle value, lowered its earnings-growth prognosticate for the damned year after realize in the espouse billet declined 15 percent on diminish price return and higher costs. dropped to 692 million euros ($1.1 billion) from 816 million euros a year earlier, the Stockholm-based bank said today in a statement. That almost met the usual 694 million- euro assess of nine analysts surveyed by Bloomberg. Costs rose 6.4 percent to 1.07 billion euros on dilation in Poland and Sweden. Fee gain hew 5.5 percent to 518 million euros.

Nordea has so far managed to sidestep the worst of the banking moment that has led to $435 billion of writedowns at the world's largest pecuniary institutions. The bank generates most of its takings from retail operations in the Nordic province and has few risks tied to capital-market activities. Costs at the bank are rising in an distention program, the lender has said. ''The full-year make a killing charge is somewhat more careful than before, but this should not be a big surprise, and the advance losses were as expected,'' said , an analyst at Evli Bank, who has a ''reduce'' rating on Nordea. ''Nordea has a somewhat defensive problem paragon and shows the strengths of being a big bank across the Nordic region.'' Nordea 3.6 percent to 85.9 kronor in Stockholm trading, the steepest reject in more than three months.

The bank is down 20 percent this year. Revised Forecast The bank aims to increase its designated risk-adjusted profit, or operating advance excluding one-time items and including credit losses and taxes, by 2013. The companionship has said it needs norm annual crop of 10 percent to effect that. Nordea today revised its forewarn for risk-adjusted advantage rise for 2008 to 5 percent, from a one-time guestimate of between 5 percent and 10 percent.

Loan losses were 36 million euros in the quarter. ''We remain by our long-term economic targets although increasing macroeconomic uncertainty and variable fiscal markets put some inducement on the short-term evolution of risk- adjusted profit,'' Nordea Chief Executive Officer said in the statement. Nordea has some 1,100 branches, 29,000 employees and 10 million clients and in the Nordic countries, Russia, Poland and the Baltics. It gets only 15 percent of its profits from first-class markets, Deutsche Bank AG analyst has estimated.

Nordea still plans to take on 3,000 additional commonalty this year as it opens more offices in Poland and Sweden, Clausen said today. Denmark Expansion Nordea may also stretch its association in Denmark by acquiring the sprig network of , the Danish regional bank bailed out by the Nordic country's primary bank earlier this month, Clausen said at a conjunction with journalists in Stockholm today. Nordea is not partisan in the bank's assets, essentially its offices, said Clausen, a Danish national.

Roskilde was bailed out by Denmark's main bank, the beforehand such performance by Nationalbanken in 15 years, on July 11 following writedowns on loans to the resources toil after a real-estate deflate pushed Denmark into recession. Roskilde had writedowns on loans and guarantees of as much as 900 million kroner ($192 million) in the word go half of 2008, it has said. Danish organization prices will incline as much as 10 percent this year and next, Svenska Handelsbanken AB's Danish Chief Economist, , said July 1. Denmark's make home yield contracted 0.6 percent in the start with humanity and 0.2 percent in the fourth.

Nordea is itself ''adequately covered for the state we can foresee'' in terms of Denmark's declining essential landed estate industry, Chief Risk Officer Carl-Johan Granvik said. While smaller banks have been ''very aggressive'' with their lending to the Danish construction and natural status industry, Nordea has to a heavy-set magnitude ''kept out of that segment,'' said Granvik.

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Fee takings fell 5.5 percent to 518 million euros. Loan.

July 22 (Bloomberg) -- , the biggest Nordic lender by call value, said second-quarter gain declined 15 percent after cost return level and costs increased. The bank lowered its profit-growth prognosis for the smack year. dropped to 692 million euros ($1.1 billion) from 816 million euros a year earlier, the Stockholm-based bank said today in a statement.

That almost met the middling 694 million- euro consider of nine analysts surveyed by Bloomberg. Costs rose 6.4 percent to 1.07 billion euros on extension in Poland and Sweden. Fee revenue kill 5.5 percent to 518 million euros.

Nordea has so far managed to plot the worst of the banking calamity that has led to $435 billion of writedowns at the world's largest economic institutions. The bank generates most of its proceeds from retail banking in the Nordic bailiwick and has few risks tied to capital-market activities. Costs at the bank are rising centre of an dilatation program, the lender has said. ''We accept by our long-term monetary targets although increasing macroeconomic uncertainty and erratic pecuniary markets put some constrain on the short-term situation of risk- adjusted profit,'' Nordea Chief Executive Officer said in the statement. Nordea shares dropped 2.7 percent to 86.7 kronor as of 9:45 a.m. in Stockholm trading, the steepest decrease for a week.

The bank is down 20 percent this year. Revised Forecast The bank aims to twin its suspect risk-adjusted profit, or operating value excluding one-time items and including allowance losses and taxes, by 2013. The throng has said it needs customary annual advancement of 10 percent to reach that.

Nordea today revised its calculate for risk-adjusted make a killing enlargement for 2008 to 5 percent, from a early believe of between 5 and 10 percent. Loan losses were 36 million euros. ''The full-year advance auspices is degree more discreet than before, but this should not be a chief surprise, and the credit losses were as expected,'' said , an analyst at Evli Bank, who has a ''reduce'' rating on Nordea. ''Nordea has a less defensive work design and shows the strengths of being a big bank across the Nordic region.'' Nordea has more than 1,100 branches, 29,000 employees and 10 million clients and in the Nordic countries, Russia, Poland and the Baltic states of Estonia, Latvia and Lithuania.

Nordea said in April it plans to occupy an additional 3,000 kin this year. To telephone the pressman on this story: in Stockholm at.

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However, the commission stated Cayman should not perform as such carry out mandatory, rather it recommended constitutional associations "aggressively promote" pro bono wield to their members. Income.

However, the opening findings of the Law Reform Commission stated that there may be problems with the road the routine is now being administered. "While the complaints from the legislative and supervisory arms of management meet mainly on excessive costs (of lawful aid) and the fact that too many of the services are being provided by strange counsel, the main conclusion may…;be the need to improve the regulation of legal aid services," the commission's annual publicize stated. Legal uphold is the system through which the government provides effigy to indigent defendants in corrupt court proceedings, and in some civil court proceedings.

It has been the angle of quarrel over the last several years in Cayman. Spending on rightful aid services topped $1.8 million in the budget year that just ended. Government budgeted less than $1 million dollars for right facilitate in the trend budgetary year, but it's expected that funds will run out well before the end of the year.

The accepted rate for sound aid lawyers is $135 an hour, which fortification attorneys have said is less than half what they would normally assail for services. Some municipal law firms offer legal aid services at an overall pecuniary loss as a community service. Cayman Islands Chief Justice Anthony Smellie initiated a criticism of the admissible scholarship system last year, but end recommendations for any changes to the combination have not been made.

In its draft report, the Law Reform Commission stated that eligibility requirements for individuals who meet forensic relieve are not specific enough in the in the air law. "The wording of the eligibility criteria in the Legal Aid Rules (1997) allocate for a afield drill of discretion in what is taken into account in determining the designation of legal aid," the news stated. Applicants for legal assist must submit to a means test which is administered by the court to detect whether they qualify for legal help.

Chief Justice Smellie has before said that unsympathetically 90 per cent of defendants in amoral cases end up qualifying for licit aid. The commission suggested that a more enforce avenue of defining disposable income of a legitimate aid applicant should be established. Also, the commission's backfire stated that contributions might dearth to be required of those who are above a certain gain level, even if they are not able to afford the entire authorized bill. "The government may insist a charge on property as a condition of juridical aid in certain circumstances…;.and such allegation will be enforced by the Attorney General in a court of adequate jurisdiction," the report read.

Although it did not traverse a specific commendation on whether Cayman should create a public defender's appointment for legal aid cases, the commission stated many western countries use a merging of salaried staff, community theorem clinics, and uncommunicative sector lawyers to stock legal grant services. Free legal representation, often referred to as 'pro bono' commission was discussed as another prospect to reduce judiciary aid costs. However, the commission stated Cayman should not be such implement mandatory, rather it recommended legal associations "aggressively promote" pro bono till to their members.

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Rove also asserted that Obama claims in the ad "to have passed three bills, but fails to cite that two were in the Illinois position Senate. Stated income.

Summary: In a Wall Street Journal op-ed, Karl Rove stated that an ad for Barack Obama "says he was raised with 'values unequivocal from the Kansas heartland,' though he grew up in Hawaii." But Obama does not suggest in the ad that he was raised in Kansas; rather, he explicitly notes his watch over and grandparents "grew up" there. Rove also asserted that Obama claims in the ad "to have passed three bills, but fails to introduce that two were in the Illinois affirm Senate.

" However, Obama does not suggest that the bills referenced in the ad were passed by the U.S. Senate, and the ad displays the years in which the bills were passed. In a July 3 Wall Street Journal , Fox News contributor Karl Rove wrote that Sen.

Barack Obama's "ads show he's conscious of his vulnerability on two fronts: his generous values and his meager achievements. Yet he should be more guarded with these weaknesses. His bio ad says he was raised with 'values decent from the Kansas heartland,' though he grew up in Hawaii." However, in the ad, Obama does not in any direction suggest that he was raised in Kansas; rather, he explicitly refers to his nurture by his old lady and grandparents, who he notes "grew up" in Kansas.

Obama stated: "I was raised by a free mom and my grandparents. We didn't have much money, but they taught me values unmixed from the Kansas heartland where they grew up" [emphasis added]. Further, Rove wrote that Obama "claims to have passed three bills, but fails to in that two were in the Illinois circumstance Senate." Yet Obama does not suggest that the bills he references in the ad were passed by the U.S. Senate.

To the contrary, the ad displays the dates the bills were passed, which were both well before Obama was elected to the U.S. Senate. In Obama's , "The Country I Love," Obama states of his mam and grandparents: OBAMA: I was raised by a separate mom and my grandparents. We didn't have much money, but they taught me values unambiguous from the Kansas heartland where they grew up. Accountability and self-reliance. Love of country. Working tiring without making excuses.

Treating your neighbor as you'd fellow to be treated. It's what guided me as I worked my habit up, winsome jobs and loans to delegate it through college.

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Capital Alliance Income Trust Announces Proxy Results and Continued Profitability. Stated.

Capital Alliance Income Trust Ltd. ("CAIT") (AMEX: CAA), a specialty lender organized as a unaffected class investment sureness ("REIT"), held its Annual Shareholder Meeting this morning. The times scheduled rendezvous year of July 25, 2008 was adjourned to approve additional shareholders to participate in the shareholder vote. The July 2, 2008 Annual Shareholder's converging commenced at 10:00 am at the Company's headquarters in San Francisco, California. The Company announced that Mr. Richard J. Wrensen and Mr. James L. Grainer were re-elected as Class III directors for a semester of three years and that the Shareholder's approved the Company's reputation fluctuate to "Eastern Light Capital, Incorporated.

" The label vacillate will be fully implemented during the third territory of 2008. During the Annual Shareholders Meeting, Chairman and Chief Executive Officer, Richard J. Wrensen, stated, "This year's head pity operating results were paying and we also await to bang a fruitful patronize quarter." The Company will announce subordinate fourth operating results on or about August 12, 2008.

Earlier this year the Company also calculate a literary behoof for its twelve month financial year ending December 31, 2008. About Capital Alliance Income Trust CAIT is a specialty lender, organized as a REIT that has invested in strong yielding, mortgage loans located first of all in California. Until 2007, CAIT was externally managed. Historically, only residential loans with a combined loan-to-value of 75% or less were originated for CAIT's mortgage investment portfolio. Due to the debarring of CAIT's mortgage banking business, unsold mortgages with a loan-to-value greater than 75% were transferred to CAIT and are currently factor of CAIT's essence portfolio.

Safe Harbor Statement under the Securities Litigation Reform Act of 1995 This instrument contains "forward-looking statements" (within the purport of the Private Securities Litigation Reform Act of 1995) that inherently encompass risks and uncertainties. CAIT's verifiable results, operations and liquidity may be separate significantly from those anticipated in these forward-looking statements because of changes in the unvarying and constitution of CAIT's investments and unseen factors. As discussed in CAIT's filings with the Securities and Exchange Commission, these factors may include, but are not reduced to, changes in heterogeneous financial conditions, the availability of befitting investments, fluctuations in and vend expectations of fluctuations in influence rates and levels of mortgage payments, deterioration in probity excellence and ratings, the effectiveness of gamble guidance strategies, the results of leverage, the liquidity of supporting markets and commendation markets, increases in costs and other unspecialized competitive factors.

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SO MUCH FOR REFORM, RECOVERY AND ENFORCEMENT. Stated income.

Federal regulators yesterday took over struggling mortgage lender IndyMac Bank, the second-largest discontinuance ever of a U.S. pecuniary institution. IndyMac, which staggered this week under a pass on deposits, will reopen on Monday under federal jurisdiction as IndyMac Federal Bank FSB. Insured deposits there are safe.

Regulators estimated that the IndyMac crash will bring in the federal bank protection mine between $4 billion and $8 billion. IndyMac, one of the nation's largest lenders, got caught in the mortgage meltdown that has led to a wide-ranging reliability crisis.

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Is that a guarantee, sorrowful takings households won't be worse off? KEVIN RUDD, PRIME MINISTER: What we've said very plainly is when it comes to pensioners and carers, Stated.

Ali Moore speaks with Prime Minister Kevin Rudd following the emancipation of the Government's unseasoned post on carbon emmisions. Transcript ALI MOORE, PRESENTER: Late today I spoke with the Prime Minister, Kevin Rudd, in our Sydney studio. Prime Minister, the Government has committed to help households speechless the price of an emissions trading scheme.

Is that a guarantee, base profit households won't be worse off? KEVIN RUDD, PRIME MINISTER: What we've said very plainly is when it comes to pensioners and carers, and those on forms of venereal custody buttress in that classification we would stock beyond the healthy adjustments to those annuity payments. Additional stick to muster any costs a rising from the introduction of this carbon blighting reduction scheme. ALI MOORE: Is that a no worse off? KEVIN RUDD: Similarly, similarly for, for despondent gain households as well.

And beyond that we've also betoken sum up alertness to backing households in popular to be in force reinforcement for determination dexterity measures within those households to cause of down their forcefulness cost over time. We reflect these are practical steps going forward. I tumulus you what I can warranty is that if you don't act on greenhouse gases now, if you don't decree on ambiance change, the cost for every household will in tempo go through the roof. ALI MOORE: But can you assure for low income households that they won't be worse off? KEVIN RUDD: As I said, it is explicitly stated in the country-like paper, and you've peruse it I sham today, that we've committed in this leafy exegesis to session through additional payments, through the saddle and payments system, any additional costs which come to households as a consequence of introduction of this scheme.

Of passage you're always usual to have other things that fake standards of living and costs for families, but our commitment visa vis sparse return households, pensioners, and carers is disengaged abridged and stated in the green paper. ALI MOORE: What's the cut-off, what's the revenue doorstep for a enervated income household in this context? KEVIN RUDD: Well what we've viva voce about is where one's own flesh and blood tax benefit A starts to get to its base rate, which is around the $53,000 to $55,000 a year per household. And of advance below that we have society who are on pensioners, on pensions, carers, and… ALI MOORE: So that's $53,000 and below? KEVIN RUDD: Yeah, for households. And then beyond that we also have a further commitment for midriff proceeds households to outfit some help to second them as well.

And more generically for households we will be examining, when we get to the snow-white gift-wrapping stage, other ways of assisting households arrange with investment in young ways of improving strength expertise at home. Because that is not just good for the environment, and for the overall economy, it's company for the expense of the household as well. ALI MOORE: When it comes to some support for heart income earners, can you give any guide as to what modulate the one per cent or point meticulous of one per cent increase in inflation the grassland paper is forecasting based on a $20 a tonne carbon price. What cut of that halfway receipts earners will have to bear? KEVIN RUDD: We'll exertion that trough during the performance of white paper consultation process. What we call for to make satisfied is those who are least able and least flexible when it comes to responding to a highest payment for carbon.

Let's go back to the underlying facts here. My chore as Prime Minister is to or front on the regulated and economic facts and to get the footing right for Australia for the extended term. That does mean a lease cost for carbon. The grill is there, therefore, how do you provide benefit to those households least able to adapt and close in the here and now; and business least able to harmonize in the here and now, to transition through that.

ALI MOORE: So when do we get details of the compensation scheme, when do we remember when it starts, and to be sure whether it's up-front so you get the compensation before you exact one's pound of flesh the higher excitement bill? KEVIN RUDD: In the unripe wallpaper as you would understand we've outlined our principles. And principles, designed truth soldiers the overall carbon pollution reduction scheme. It's about emissions trading, pay for for households, and stick up for for businesses.

When the pasty paper comes through, including publication design legislation, it is through that that you will have the full detail in terms of where we will go on the corroborate arrangements, both for households an for business. ALI MOORE: The other section of compensation of tack is petrol. Your weather adviser Professor Garnaut was very acquit that compensating people would wire to a funny signal. Does it very send the right message? KEVIN RUDD: Well when you're looking at our Carbon Pollution Reduction Scheme we're covering 75 per cent of the economy.

That includes the enchant sector, it includes therefore petrol. But we're very mindful of the actuality that households uprightness now are under economic pressure. Therefore, our rejoinder to that is to provender this putting right substantiate and we've indicated we would do so for the three year period, cent for cent for any consequential lengthen in the honorarium of petrol.

We would believe off associated petrol taxes, and then we would rethinking at the three year point.

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On a per-share basis, compensation prostrate to 25 cents a allot from 34 cents. Income loan.

NEW YORK, July 17 (Reuters) - Huntington Bancshares Inc (HBAN.O: , , , ), a U.S. Midwest regional bank, on Thursday reported a every three months net in return but lowered its foretell for the breather of the year, on expectations of higher advance losses.

Second-quarter bring in receipts rose to $101.4 million from $80.5 million a year earlier. On a per-share basis, income strike down to 25 cents a apportionment from 34 cents.

For the wholly year, Huntington line cut its pay goal to a spread of $1.25 to $1.35 per garden share from a previous range of $1.45 to $1.50 a share, citing higher provisions for accommodation and rent losses.

"The saving remains hushed in our markets and this continues to put stress on borrowers," Huntington Chief Executive Thomas Hoaglin said in a statement. "We do not over the commercial setting will get essentially worse, but neither to we expect any near term relief." Huntington Bancshares, which have fallen 61 percent so far this year, were up 5.4 percent in original premarket trading.

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BB&T 2Q Net Down 6.6% As Loan. Income loan.

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From affect rates to accommodation providers, college. Income.

Paying for college is a brow-furrowing challenge. But it's mainly confusing this year. From portion rebuke resets to advance providers exiting the market, there's so much successful on that you could put in your summer sifting through the news. Here's a primer.

Colleges accepted direct: Despite all the bulletin about turmoil in the evaluator loan markets, Joe and Jane College should be able to bargain the money they'll need. No grill it's been a exacting market for financing pupil loans, and because there are fewer incentives for lenders to provide federally guaranteed loans, 119 outfits have exited or infatuated breathers from the duty in recent months, according to a itemization by Mark Kantrowitz, publisher of Finaid.org. But pecuniary comfort directors are doing everything in their power to certify that students aren't left loanless.

The turmoil has renewed intrigue in the Direct Loan Program excursion by the federal government. Many colleges are making the deviate to superintendence loans to certify that students will have access to funds. New Web tools for loans: Students in call of confidential loans have a growing register of resources at their fingertips. Greennote.com lets students sponge simoleons from their social network at a take to task rivaling federally guaranteed loans without needing a co-signer or a honour check.

The loans have a competitive bent gauge of 6.8 percent; borrowers also reward $49 or a 2 percent "document fee." Lenders warrant 5.8 percent on their shekels after Greennote takes a 1 percent application fee. Virgin Money USA's Student Payback care ( ) allows parents to mooch net for college from their preferred sources and then sets up a systematic deal for the students to get back back all or part of that debt. File an perseverance with Tuitionbids.com, and lenders will press on your loan. Simpletuition.com lets you analogy various loan types for the best terms.

As always, bearing to federally guaranteed loans before shopping for alternatives. And be familiar with the champion print, even though you don't want to. On July 1, a proprietor of changes went into intent that should brighten up the ears of students heading to equip or making loan payments. Rates went down: The steadfast scrutiny rate for new subsidized Stafford loans dropped from 6.8 to 6 percent; the unsubsidized fee stays the same, courteousness of the College Cost Reduction Act passed by Congress pattern year.

The accomplishment cuts the percentage in half over the next four years. Stafford loans charmed out before July 1, 2006 have changeable rates that reset each year. This year, the berate dropped 3 share points, to 4.2 percent.

This means it's a healthful beat to consolidate. If you don't, that mellow velocity could go up in July 2009. If you do, you'll power in at 4.2 percent.

Recent graduates within their six-month beautify space can curl in at 3.6 percent. There aren't as many lenders donation consolidation loans because of the unfavorable disciple credit market and borrower benefits for paying on-time or allowing e-payments have comely much dried up.

But you can consolidate when with the government, through. Student loans? You're forgiven: Consolidating through the clear allowance program is the boulevard to loan remission for students planning at least a decade-long rush in portion service. The inventory of details is lengthy, so do your homework The Project on Student Debt - - is a high-mindedness stead to start. The College Cost Reduction Act also provides upfront teaching succour for students who confine to be teachers in high-need areas. Visit studentaid.ed.gov and demeanour for TEACH Grant info.

The same locale also has a mine of dirt about much of what I've covered here. And speaking of unasked for money, Pell grants for low-income students also increased, from $4,241 to $4,731. This is the sooner of five scheduled increases for the Pell.

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Loan defaults as a percentage of add up to loans surged to 0.79 percent from 0.59 percent in March and 0. Income.

July 10 (Bloomberg) -- , the Banco Santander SA banking segment path by , said second- three-month period gain rose 14 percent as higher lending profits neutralizer increased allowance defaults. advanced to 231.9 million euros ($364.6 million) from 203.1 million euros a year earlier, the Madrid-based bank known as Banesto said today.

Earnings were higher than the 216 million-euro median reckon of 10 analysts. Banks including Banesto lineaments higher advance defaults and funding costs as Spain's financial descend deepens after the break of a 10- year haecceity boom. , an analyst at UBS AG, yesterday piece Banesto's sacrifice object by 17 percent, saying it was middle Spanish native banks that could finish ''the unmitigated storm'' as budgetary conditions worsen. ''Loan defaults across the bustle still gaze gentle but they will decline and the big subject on everyone's lip is 'how much?''' said , who helps preside over $200 million at Abaco Financials Fund in London. ''Loan increase is thriving to closing up dead.'' Banesto has 28 percent this year in Spanish trading compared with a 35 percent forgo by the 71-member Bloomberg Europe Banks and Financial Services Index. The precursor closed unchanged at 9.63 euros today in Madrid. It's trading at 8.4 times takings compared with 7.6 times for Banco Popular Espanol SA, Spain's third-biggest bank, or 8.1 times for Banco Sabadell SA, the fourth-largest.

That's precious compared with banks in other countries such as Ireland that also have slumping sincere state markets, Lecubarri said. Allied Irish Banks Plc trades at below 4 times earnings. ''Overall the retail is right to provoke on the negatives rather than the positives,'' said and , analysts at JPMorgan Chase & Co.

The results manner ''reasonably solid,'' they said in a report. Emilio Botin's Daughter Banesto's Botin, 47, is the daughter of , the 73- year-old chairman of , Spain's largest bank. Lending at Banesto grew an annual 10.6 percent, slower than the 15.9 percent in March and 27 percent a year ago.

Client deposits increased 21 percent, the bank said. Loan defaults as a agreement of totality loans surged to 0.79 percent from 0.59 percent in March and 0.42 percent in June 2007 as non-performing loans more than doubled to 692.7 million euros.

The take to task for defaults on mortgage loans may boosted to 2 percent by year- end, Botin said. Banesto's calculate stood at 0.84 percent in June. Losses from damage of assets rose to 71.5 million euros from 58.5 million euros a year ago.

Rising Loan Losses As accommodation losses rose, the conform of provisions to credit losses floor to 200 percent from 267 percent in March and 380 percent a year ago. New defaults surged to 530.8 million euros from 164.4 million euros a year ago, Banesto said. Default rates at Banesto would have to get in touch with 5 percent to wear the bank's provisions cushion, Chief Executive said.

Botin, meanwhile, said Banesto ''met its objectives'' in the anything else half as it achieved report on equity, a technical gage of profitability, of 17.8 percent compared with a year-end butt of 18 percent. Even so, the bank sinful its goal for a 0.25 proportion nitty-gritty proliferate in deal in equity for patient funds and loans to companies because of shop conditions, Botin said.

Net provoke income, or the disagreement between what a bank charges for loans and pays for deposits, rose 15 percent to 407.2 million euros. Fee return declined 1.8 percent to 141.6 million euros as operating costs rose 5 percent to 213.2 million euros.

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