“Resident didn't get caught in scam - Vacaville Reporter” plus 4 more |
- Resident didn't get caught in scam - Vacaville Reporter
- WRAPUP 1-Canadian Western Bank, Laurentian beat street - Reuters
- UPDATE 1-Academic Patrick Honohan appointed Irish cbank chief - Reuters
- Constellation Acquires Medisolution's Resource Management Business - Market Wire
- FCAC Updates Cost of Banking Guide - Market Wire
Resident didn't get caught in scam - Vacaville Reporter Posted: 03 Sep 2009 07:51 AM PDT The e-mail read "Secret Shopper Needed," but one Winters couple didn't fall for the phony company and its fraudulent check. Al and Louise Torres say they will travel to the Vacaville Police Department today to file a report about yet another Internet scam. "I know there's people falling for this," Al Torres said. "Poor guys are going to get burned." The e-mail signed "Frank Miller an evaluator consultant of the Miller Survey" didn't seem shady to the couple at first. After all, their daughter had been an employee of a legitimate secret shopper business. Their thinking changed, however, after they received a cashier's check for $2,980 in a FedEx envelope, followed by another e-mail insisting its urgency. "You have to start your evaluation process immediately today since the payment has been delivered to your front door. ... I want you to cash the cashiers check immediately today in your bank to go ahead with the evaluations. You are given at least 24 to 72 hours to get the evaluation done." The e-mail explained that they could keep $150, use $40 for purchasing merchandise and $30 was to compensate for transportation expenses. The remaining $2,760 was to be used for a Western Union transaction to evaluate their services, the e-mail stated. Louise Torres said she took one look at it and was skeptical. Suspecting that the check wasn't valid, they went to the First Northern Bank in Winters, where an employee contacted Option 1 Credit Union, the logo on the check, and verified that it, indeed, was a fraud."There is probably a lot of people who would fall for this and will get stuck with this," she said. Sgt. Charlie Spruill said that the scam that tried to entice the Torres family isn't very common, but that most Internet or phone scams are targeted to the elderly and involve transferring money overseas through Western Union -- a relatively unregulated entity. Spruill said he has even received scams on his work cell phone claiming that he won a game of Bingo or the lottery and in order to claim his winnings he must pay for the taxes ahead of time. "We do our best to let people know that they're scams and that it's not a wise decision to send the money," he said. He also explained that transactions are relatively easier to regulate in the United States, but once it reaches overseas it's out of local law enforcement's jurisdiction. Spruill said that the Federal Bureau of Investigation and the United States Attorney's Office are working together to figure out a way to regulate the transferring of money overseas. In the meantime, he offered this age-old piece of advice: "If you think it's too good to be true, it probably is too good to be true." This posting includes an audio/video/photo media file: Download Now |
WRAPUP 1-Canadian Western Bank, Laurentian beat street - Reuters Posted: 03 Sep 2009 07:37 AM PDT * Canadian Western Bank Q3 EPS C$0.38 vs C$0.41 yr-ago * Laurentian Bank Q3 EPS C$1.08 vs C$1.17 yr-ago * Both exceed estimates, shares rise By Andrea Hopkins TORONTO, Sept 3 (Reuters) - Two of Canada's regional banks, Canadian Western Bank (CWB.TO) and Laurentian Bank (LB.TO), reported better-than-expected quarterly profits on Thursday, sending their shares higher. Continuing a string of upside surprises by Canada's major banks in the third quarter, Edmonton, Alberta-based CWB and Montreal-based Laurentian Bank reported stronger profits, after one-time items are excluded, as loan growth and relatively low exposure to credit risk boosted revenues. Shares of CWB climbed 3.8 percent while Laurentian Bank shares were 4.1 percent higher early in the session. The strong performance closed the Canadian banks' earnings season. Five of Canada's big six banks exceeded market expectations as trading revenues soared. CWB, the nation's seventh-largest bank, and Laurentian, No. 8, had less exposure to volatile capital markets, and Dundee Securities analyst John Aiken said that makes their profits even more impressive. "The regional banks outperformed based on their lower relative risk profile and leverage to improving credit spreads," Aiken said. "While they do not benefit to the same degree from exposure to the capital markets, this makes their earnings quality higher and much more sustainable than the big six going forward." CWB net income rose 9 percent to C$28.7 million ($26.1 million), or 38 Canadian cents a share. Analysts were expecting earnings of 32 Canadian cents a share, according to Reuters Estimates. CWB shares rose 3.8 percent to C$18.26 apiece. That's more than double the 52-week low of C$7.52 reached in March, but still well below the year-high of C$24.13. The bank, which offers personal and commercial banking in Canada's western provinces of Manitoba, Saskatchewan, Alberta and British Columbia, said total loans increased 12 percent from a year ago. Tier I capital rose to 11.2 percent, and the quarterly dividend was unchanged 11 Canadian cents a share. Laurentian bank shares did even better, climbing 4.1 percent to C$37.73 after the Montreal-based bank reported net income of C$28.7 million or C$1.08 a share. Continued... This posting includes an audio/video/photo media file: Download Now |
UPDATE 1-Academic Patrick Honohan appointed Irish cbank chief - Reuters Posted: 03 Sep 2009 07:37 AM PDT * Appointment breaks decades of tradition * Honohan "bad bank" proposal currently under consideration
(Adds details on appointee, background) DUBLIN, Sept 3 (Reuters) - Patrick Honohan, an academic economist, will succeed John Hurley as Ireland's central bank governor later this month, the Department of Finance said on Thursday. Finance Minister Brian Lenihan will make a formal announcement later on Thursday on Honohan, who will also sit on the Governing Council of the European Central Bank and will have to oversee an overhaul of Ireland's regulatory system after a slew of scandals. [ID:nLI506160] "I am delighted," the 59-year-old said when contacted by Reuters. A professor of economics at Trinity College Dublin, Honohan has worked at the World Bank and the International Monetary Fund and his research interests include systemic financial distress and the fiscal costs of dealing with banking crises. Honohan is the author of a proposal believed to be favoured by the finance ministry which would see the National Asset Management Agency (NAMA), a "bad bank", pay in two parts for the loans it acquires. [ID:nLR29290] His appointment breaks decades of tradition. Until now Irish central bank governors have been chosen from the top ranks of the civil service, including Hurley, who is a former secretary general at the finance ministry. Hurley will retire on Sept. 25, having accepted the government's request to stay on beyond the end of his term in March to ensure a steady hand at the helm during unprecedented financial turmoil. [ID:nLR105446] Honohan also has some civil service experience, having been advisor to then prime minister Garret FitzGerald in the 1980s and an economist in the central bank between 1976-84 after earning a PhD from the London School of Economics. (Reporting by Carmel Crimmins and Andras Gergely; editing by David Stamp and Andy Bruce) © Thomson Reuters 2009 All rights reserved This posting includes an audio/video/photo media file: Download Now |
Constellation Acquires Medisolution's Resource Management Business - Market Wire Posted: 03 Sep 2009 07:29 AM PDT TORONTO, ONTARIO--(Marketwire - Sept. 3, 2009) - Constellation Software Inc. ("Constellation") (TSX:CSU) today announced that its wholly-owned subsidiary, Harris Computer Systems ("Harris"), purchased the Resource Management (RM) Business from MediSolution Ltd. ("MediSolution"). Total consideration for the transaction is approximately CDN$30 million, subject to certain purchase price adjustments and claims on representations and warranties. As a result of the purchase, Harris will assume all the customers and employees relating to the financial management, human capital management, and business intelligence solutions suites. MediSolution will operate as a separate division of Harris from its existing facilities in Montreal, Laval, and Toronto. Under the terms of the purchase, Harris also acquired the MediSolution trade name. Harris did not acquire the blood bank product business that will continue under Brookfield Asset Management. Harris CEO Jeff Bender stated, "The RM Business is a great addition to the Harris family of solutions. We are excited to continue our expansion within both the healthcare vertical and within the province of Quebec. MediSolution provides tremendous market share and brand recognition in Quebec and an opportunity for growth within the rest of Canada." MediSolution CEO Paul Lepage commented "Harris provides an excellent home for our customers and our employees. Harris has a proven track record of committing to the businesses it acquires - including continued investment in employees and product lines. The MediSolution leadership team is confident in the success of the RM Business under the leadership of Harris." Daniel Desaulniers, General Manager of Harris' Quebec operations remarked "The RM Business provides its customers with a robust suite of products and value added services, and a solid track record of customer satisfaction. We are pleased to add the leadership team of Medisolution, a team that will remain focused on growing the RM Business." About Constellation: Constellation's common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. Constellation acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries. About Harris: Harris is a wholly owned subsidiary of Constellation and is a leading provider of financial management and Customer Information Systems (CIS) software solutions. Since 1976, Harris has focused on providing feature-rich and robust turnkey solutions to all levels of local government, public power and water entities as well as school districts throughout North America. Harris' focus is on creating long-term relationships with our customers and ensuring that we meet the changing needs of our customers over time. For further information on Harris Computer Systems, please visit our website at http://www.harriscomputer.com, or call 888-847-7747. Forward Looking Statements Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Constellation or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date hereof. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements are made as of the date hereof and Constellation assumes no obligation to update any forward looking statements to reflect new events or circumstances. This posting includes an audio/video/photo media file: Download Now |
FCAC Updates Cost of Banking Guide - Market Wire Posted: 03 Sep 2009 07:29 AM PDT OTTAWA, ONTARIO--(Marketwire - Sept. 3, 2009) - How do you like to do your banking? What is more important to you: convenience or low fees? Could you benefit from a student, youth or senior citizen's service package, with minimal or no fees? Answering those few simple but significant questions is the first step to finding the personal bank account that best suits your own financial needs. To continue providing consumers with the accurate, up-to-date information they need to help them choose the most appropriate financial products, the Financial Consumer Agency of Canada (FCAC) has updated its user-friendly Cost of Banking Guide. Shop, compare features, and save! FCAC's Cost of Banking Guide interactive tool makes it easy to compare features for different chequing and savings accounts, including interest rates. With a few simple clicks, the consumer can narrow the search and find a variety of accounts suit to his or her needs. A database of over 110 accounts, the Cost of Banking Guide tool is a great place to start shopping for a personal account, without having to step out of the house. "It is important to remember that our financial needs and habits change over time, and that it is possible our current bank account no longer suits our lifestyle or situation," explains FCAC Commissioner Ursula Menke. "Consumers should review their bank accounts regularly to make sure they fit with the type and number of transactions they are accustomed to. By using the Agency's online interactive tool, consumers could find better options." Consumers can find the Cost of Banking Guide interactive tool by visiting FCAC's website at moneytools.ca. About FCAC Through its consumer education publications and interactive tools, the Financial Consumer Agency of Canada (FCAC) works to increase consumers' understanding of financial products and services. FCAC provides consumers with accurate, objective information on financial products and services and informs them of their rights and responsibilities when dealing with federally regulated financial institutions. In addition, through its financial literacy programs, FCAC helps Canadians build their financial knowledge and confidence in managing their personal finances. FCAC also ensures compliance with consumer protection laws and monitors codes of conduct and public commitments that apply to banks and federally incorporated trust, loan and insurance companies. To reach us, call our Consumer Contact Centre toll-free at 1-866-461-2232 (TTY: 613-947-7771 or toll-free at 1-866-914-6097) or visit our website at www.fcac.gc.ca.
The Financial Consumer Agency of Canada (FCAC) has updated its Cost of Banking Guide online tool and reminds consumers that reviewing their existing account package once a year could not only save them money, but also find financial products that better meet their needs. Listing 110 banking packages available in Canada, FCAC's Cost of Banking Guide allows consumers to compare account features and find the banking package that best suits their financial needs. The guide is available as an interactive online tool on FCAC's website moneytools.ca. This posting includes an audio/video/photo media file: Download Now |
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