Finance & Business World

Household confidence improved last week to match the highest level in four years as more Americans said their finances were in better shape.

The Bloomberg Consumer Comfort Index was minus 31.4 in the period ended April 15, compared with minus 32.8 over the previous seven days. The reading equaled that from two weeks earlier as the best since March 2008. Nonetheless, the monthly expectations measure fell from a one-year high, showing concern remains that too many Americans are still unemployed.

Apply for our overnight online cash advance loans from $100 to $2500, deposited instantly in your bank account.

Missouri Employers Mutual Insurance Co. plans to pay about $2 million in dividends to 11,033 policyholders this spring, the state-sponsored workers’ compensation company announced today.

It will be the company’s first dividend since its creation by the State Legislature in 1993. The company has accumulated a surplus of about $163 million.

“It took many years of successful operation before we established the financial strength needed to pay a dividend,” Jim Owen, the insurer’s president and chief executive, said in a written statement pay day loans.

MEM’s first dividend recognizes policyholders whose policies were effective in 2009, company officials said. Policyholders at all premium levels will receive a percentage of the premium they paid based on their loss ratio results. Dividends will not be paid to policyholders whose policies had too high a loss ratio.

Source

Please remember that a payday loan is a rather expensive line of credit. Much like taking something to the pawn shop.

The era of low-priced energy that has shaped nearly every aspect of North American life for the past century, including the rise of the suburbs and beyond, may be ending.

Energy price spikes have come and gone, but there is evidence that suggests the latest one could be the leading edge of something bigger. There may still be plenty of oil and gas to be found, but supplies of low-cost, easily accessible reserves are dwindling. This is sending exploration into more dangerous and ever more expensive places to keep up with demand, pushing up the cost of exploration and the price of fuel. At the same time, fast-developing economies in China, India, Brazil and elsewhere want their share of the energy pie to grow.

These reasons may help explain why, with Europe in recession and the United States in a weak recovery, oil is trading at more than $100 a barrel and gasoline is above $1.30 a litre in Toronto. It may hit $1.50 by summer and signs are that, over time, it will stay there. Former CIBC economist Jeff Rubin, for one, predicted in his 2009 book Why Your World Is About to Get a Whole Lot Smaller, that $2-a-litre gas isn

Confidence among U.S. homebuilders held in March at the highest level since June 2007 as sales expectations climbed for a sixth month.

The reading of 28 in the National Association of Home Builders/Wells Fargo index of builder confidence was less than projected and followed a February figure that was lower than initially reported, figures from the Washington-based group showed today. The median forecast of economists surveyed by Bloomberg News called for a rise to 30. Readings below 50 mean more respondents said conditions were poor.

Cheaper homes and mortgage rates close to all-time lows are helping drive record housing affordability, benefiting builders such as Toll Brothers Inc. At the same time, the real estate market remains challenged by distressed properties and the threat of more foreclosures that could push down values further.

India

U.S. stocks ended mixed Friday, with the Dow and S&P holding near their highest levels since 2008, as investors digested reports on consumer sentiment and home sales.

After climbing above 13,000 earlier in the day, the Dow Jones industrial average () eased 4 points, or less than 0.1%, to end at 12,983. The Dow last closed above 13,000 in January 2008.

While the Dow at 13,000 is not technically significant, it is a psychological milestone, said Ryan Detrick, senior technical strategist at Schaeffer’s Investment Research. Since the start of February, the Dow has been trading at its highest level in nearly four years.

Meanwhile, the S&P 500 () edged up 2 points, or 0.2%, to 1,366. Earlier, the index rose to 1,369, the highest point since June 2008.

The Nasdaq composite (), which gained 7 points, or 0.2%, has also been at its highest level since December 2000.

For the week, all three indexes posted gains of less than 0.5%.

In the oil market, crude futures rose above $109 a barrel amid concerns about increased tensions between Iran and Western powers.

The Fed can’t fix housing

The recent rise in oil prices has translated into higher gas prices, with the national average climbing 12 cents this week.

U.S. stocks closed higher Thursday, despite looming worries about the Greek debt crisis, boosted by a strong report on Germany’s economy and a decent reading on U.S. unemployment.

Economy: While a reading on consumer confidence came in better than expected, investors’ enthusiasm was a bit dampened by a decline in new-home sales — another sign that the housing market remains troubled.

The University of Michigan Consumer Sentiment Index for February rose to 75.3, topping expectations of 73.

"Confidence has been slowly but surely coming back, and you’re seeing a reflection of that in the equity markets," Detrick said. "Just four month ago, people were talking about the chances for a double-dip recession, but that’s clearly not the case anymore."

While the housing market continues to recover at a "two steps forward, one step back" pace, it’s also headed in the right direction, said Detrick.

Companies: J.C. Penney (, Fortune 500) shares slipped after the department store chain beat earnings estimates, but fell short of sales expectations for the fourth quarter payday loans.

Shares of AIG (, Fortune 500) jumped after the company said late Thursday that its fourth-quarter profit surged to $19.8 billion, thanks to an accounting change.

Salesforce.com’s () stock also popped after the company topped earnings and sales expectations late Thursday, as customer billings surged 57% during the quarter — a sign of robust future sales growth.

Gap’s (, Fortune 500) stock fell after the retailer missed earnings and sales expectations for the fourth quarter. Gap also announced a $1 billion share buyback program and an 11% boost to its annual dividend.

Shares of Crocs () tumbled after the shoemaker issued a downbeat outlook for the first quarter of 2012.

Gingrich’s $2.50 gas promise

Citigroup (, Fortune 500) sold its stake in Mumbai-based Housing Development Finance Corporation. Citigroup said the sale should result in a pre-tax gain of $1.1 billion, and an after-tax gain of approximately $722 million.

Bank of America (, Fortune 500) announced plans late Thursday to freeze pension plans, effective in July, and increase its 401(k) contributions instead.

World markets: European stocks closed mixed. Britain’s FTSE 100 () edged slightly lower, while the DAX () in Germany rose 0.8% and France’s CAC 40 () added 0.6%.

Asian markets ended with solid gains. The Shanghai Composite () closed up 1.3%, the Hang Seng () in Hong Kong rose 0.1% and Japan’s Nikkei () gained 0.5%.

Currencies and commodities: The dollar fell against the euro and the British pound, but rose versus the Japanese yen.

Oil for April delivery rose $1.94 to settle at $109.77 a barrel. Oil last traded above this price on May 3, 2008.

Check gas prices in your state

The price of regular unleaded gasoline jumped 3.5 cents overnight to $3.647 a gallon, according to motorist group AAA.

Gold futures for April delivery fell $9.90 to end at $1,776.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose slightly, with the yield holding steady around 1.98%.  

Source

China may

Portugal

President Barack Obama announced a package of proposals designed to jolt the housing market, his latest effort to reignite the economy after four years of foreclosures and falling home prices.

None of the 29 Chinese workers abducted after an attack in a volatile region of Sudan have been freed, Chinese state media said Tuesday, dismissing reports that some of the workers had been released.

The workers were abducted Saturday by militants in a remote region in the country’s south. Sudanese state media reported Monday that 14 of them had been freed, but the official Xinhua News Agency and China Daily newspaper said all 29 were still being held.

China has close political and economic relations with Sudan, especially in the energy sector.

The Chinese ambassador to Sudan, Luo Xiaoguang, told China Central Television in an interview in Khartoum that anti-government rebels attacked the road project the Chinese were working on.

“There are still Chinese workers missing. Some others are still being held by the anti-government armed forces,” Luo said.

Xinhua said 47 Chinese workers were caught in the attack in the South Kordofan region of Sudan. It said 29 were captured and the other 18 fled, and that one of those who fled remains missing.

The Foreign Ministry in Beijing had no immediate comment Tuesday. A statement from the workers’ company, Sinohydro Corp., said that it and the Chinese Embassy would “spare no effort in ensuring the personal safety of those abducted and rescuing them.”

On Monday, Sudan’s state-run SUNA news agency quoted South Kordofan provincial governor Ahmed Haroun as saying that 14 workers had been released.

SUNA said the attack took place near Abbasiya town, 390 miles (630 kilometers) south of Khartoum.

Sudanese officials have blamed the attack on the Sudan People’s Liberation Movement-North, a branch of a guerrilla movement that has fought various regimes in Khartoum for decades. Its members hail from a minority ethnic group now in control of much of South Sudan, which became the world’s newest country only six months ago in a breakaway from Sudan.

Sudan has accused South Sudan of arming pro-South Sudan groups in South Kordofan. The government of South Sudan says the accusations are a smoke screen intended to justify a future invasion of the South.

China has sent large numbers of workers to potentially unstable regions such as Sudan. Last year it was forced to send ships and planes to help with the emergency evacuation of 30,000 of its citizens from the fighting in Libya.

China has used its diplomatic clout to defend Sudan and its longtime leader, Omar al-Bashir. Recently, it has also sought to build good relations with leaders from the south.

South Sudan and Sudan are in bitter dispute over oil, which is produced primarily in South Sudan but runs through Sudanese pipelines for export.

Source