Small business borrowing woes hurt jobs: NYSE CEO

NEW YORK (Reuters) - A majority of U.S. small businesses are having a tough time accessing funding, holding back job growth and stunting economic growth, Duncan Niederauer, chief executive of NYSE Euronext, said in an interview.

New York Stock Exchange parent NYSE released the results of an annual survey on Monday on the economy, business and job creation. It included 340 CEOs from companies listed on NYSE Euronext markets from 26 countries, and 285 U.S. small business owners.

It was the first time in the survey's eight years that Main Street business owners were included, and 47 percent of them said their capital needs were being met marginally or not at all. Just 21 percent said they have sufficient capital.

Niederauer, who was active in promoting the Jumpstart Our Business Startups Act, or JOBS Act, said that anecdotally he had been hearing for the past couple of years that small business has been having a tough time raising capital.

"Our early sense is that the lack of access to capital is having the biggest impact on job creation," he said.

Two-thirds of the small businesses, which Niederauer called the U.S. job creation engine, do not expect add jobs in 2013, or will be cutting jobs, according to the survey.

Banks are less willing to bet on small businesses than in the past, especially on newer ones that have not yet built a strong credit history, Niederauer said.

Small businesses less than 10 years old have had almost twice as much difficulty in accessing capital as companies that have been in business for over 25 years, the survey found.

Concern over future economic growth, and the amount of costs related to red tape when preparing loans for small businesses, have also put a damper on lending by banks, Niederauer added.

"There is not much profit in a $100,000 loan if you are going to provide that capital at an affordable price, and yet there is a tremendous amount of work that has to be done to make that loan," he said.

The story was slightly better for large global companies, with 43 percent of CEOs saying their need for capital is fully met, while 20 percent said they do not have enough.

But the study suggested that is leading to a spilt-level recovery of the economy, with large companies growing while smaller ones struggle.

There was a disparity between the two groups' thinking on the U.S. economy, with 69 percent of the CEOs of public companies saying conditions were fair, 20 percent saying conditions are poor, and 11 percent saying they are good.

Just under half of the small-business owners saw U.S. economic conditions as fair, 39 percent saw them as poor, and 12 percent said they were good.

"If that all translates to minimal growth and hiring, then that to me is the call to action," Niederauer said.

Aside from its support of the JOBS Act, which was enacted in April and makes it easier for young companies to raise money while reducing regulatory burdens in the startup phase, the Big Board parent in May launched The NYSE Big StartUp, which provides small businesses with micro-loans and mentoring.

(Additional reporting by Rodrigo Campos; editing by Matthew Lewis)

Source: http://news.yahoo.com/small-business-borrowing-woes-hurt-jobs-nyse-ceo-123204061--sector.html

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10 Afghan soldiers killed in checkpoint attack

KANDAHAR, Afghanistan (AP) ? The Afghan government says 10 Afghan soldiers have been killed in an attack on a checkpoint in the south and five have either been kidnapped or joined their assailants.

Helmand provincial government spokesman Daoud Ahmadi says insurgents attacked the checkpoint in Washir district Sunday evening. He says another four soldiers were wounded.

Ahmadi did not provide details of the attack. He said Monday that the five missing soldiers left with their assailants but it was unclear if they were kidnapped or went voluntarily.

Source: http://news.yahoo.com/10-afghan-soldiers-killed-checkpoint-attack-043510948.html

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Wyclef Jean Calls for Attention to Return to Haiti

In a new commentary for CNN, Wyclef Jean makes a very simple plea to citizens of the world: don't forget about Haiti.

With Hurricane Isaac bearing down on the nation this week, Wyclef wrote of his native country:

"As we face this latest potential disaster, I find myself asking an uncomfortable question: Where has Haiti been in the national and international news? After the devastating earthquake in 2010, the people of the world opened up their hearts, minds, and wallets and pledged help to Haiti... but lately there's been next to nothing."

Wyclef, who actually tried to run for President of Haiti two years ago, acknowledges the $2.1 billion raised in the earthquake relief, but says it's not enough. Not when there was "total destruction of Haiti's minimal infrastructure."

The task of rebuilding remains "gargantuan," he tells the world.

"This week, Haiti has returned once again to the national and international consciousness. This time, let's not forget... that things don't change unless we remain active and continue to bring attention to the causes we believe in... The hardest part is always rebuilding - and Haiti cannot effectively rebuild if she doesn't get the attention she deserves."

Source: http://www.thehollywoodgossip.com/2012/08/wyclef-jean-calls-for-attention-to-return-to-haiti/

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Spain economy did worse than thought in 2010, 2011

MADRID (Reuters) - Spain's economy performed far worse than initially thought in both 2010 and 2011, data showed on Monday, suggesting the country may find it even harder to emerge from a recession that threatens to push it into seeking a sovereign bailout.

The economy shrank 0.3 percent in 2010 and grew 0.4 percent last year, according to the revised data from statistics institute INE.

The figures, respectively 0.2 percentage points and 0.3 points below preliminary estimates, prompted a short-lived selloff on Madrid's IBEX share market.

But analysts said they did not believe the data would have an effect on government forecasts for this year's gross domestic product and public deficit, though the market consensus could dip.

"The only revision that these GDP data may cause is changes to private analyst forecasts," Santiago Sanchez, economist at Carlos III University in Madrid, said.

Prime Minister Mariano Rajoy's conservative government widened the official forecast for Spain's 2011 deficit to 8 percent of GDP last December shortly after coming to power, reflecting a slowing economy and chronically high unemployment rates and debt servicing costs.

In May, it estimated the fiscal gap for the year had reached 8.9 percent.

The previous centre-left administration had targeted a 2011 gap of 6 percent.

This year, Madrid expects a deficit of 6.3 percent and a GDP contraction of 1.5 percent, which roughly tallies with the market consensus for both figures.

The International Monetary Fund expects Spain's economy, which slipped back into recession in the first quarter of this year, to shrink by 1.7 percent.

Monday's data "doesn't change the overall outlook for Spain, but it's a further note of concern in the current juncture," said Tullia Bucco, economist at UniCredit.

On Thursday, three euro zone sources told Reuters Spain was negotiating with euro zone partners over conditions for aid to bring down its borrowing costs, though the country had not made a final decision to request a bailout.

Madrid has already agreed to a European rescue package worth up to 100 billion euros ($125.17 billion) for the country's banks, weighed down by a burst property bubble.

INE said Monday's GDP changes were a result of new structural data and revisions to preliminary figures.

The 2011 revision also incorporated slightly weaker exports than first thought, it said.

INE publishes quarterly GDP breakdowns on Tuesday, along with final data for the second quarter of 2012, expected to confirm output fell by 0.4 percent on a quarterly basis.

UniCredit's Bucco said it would be important to look at which quarters were revised most in 2011, which would provide a clearer indication of how the growth outlook for coming quarters might have changed.

($1 = 0.7989 euros)

(Additional reporting Manolo Ruiz; Editing by John Stonestreet)

Source: http://news.yahoo.com/spain-economy-did-worse-thought-2010-2011-125620888--business.html

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R4 For Great Gaming Pleasure - Digital Sensus

The R4 3DS and other cards are something which is imperative to the functioning of the Nintendo DS gaming systems. All those people who are crazy about games and are always looking for newer ways of enhancing and enriching their handheld Nintendo console must indeed try to purchase this card.

Gaming in the last 4 decades has grown to become one of the major forms of entertainment. Nintendo gaming systems have always been a big part of this phenomenon. Nintendo has created successful home gaming consoles. With the progress of gaming technology, Nintendo became one of the pioneers of handheld gaming devices- with the Nintendo DS series.? To bring out the absolute best performance of Nintendo, you need the vital component ? R4 cards.

Cards like the R4i are small but powerful. They are the most popular storage devices for Nintendo DS gaming systems. The default storage capacity of these handheld systems is very low. ?These cards are essential because they increase the memory capacity of the systems.? Thus you will be able to store supported audio, video and gaming files making the DS an all round multimedia device. The card contains a small slot at the back in which a small micro SD card can be inserted. The card in it self contains the greatly important R4 firmware that helps the DS to run it the exemplary way it does. The popularity of the R4i cards stem from the fact that it is very easy to handle the card and other card related operations and therefore you do not have to be an expert to install and use it. In fact, after you insert the card and boot the system, a prompt will ask you to pick any one between the two options of either playing games or else using multimedia. You can also store downloaded games or watch movies after storing them using the R4 Card.?

The latest addition in the Nintendo DS series is the 3DS model. It is a new model that has 3D gaming facility.? The older versions of the R4 card do not work on this new model. For that you need R4 card for 3DS.? Though this card works with some other models, it is better not to use it that way as it was specifically designed for Nintendo 3DS. ?The R4 3DS and other cards are something which is imperative to the functioning of the Nintendo DS gaming systems. All those people who are crazy about games and are always looking for newer ways of enhancing and enriching their handheld Nintendo console must indeed try to purchase this card. The cards are not at all very expensive and are in fact quite affordable. With the latest game releases some of the R4 cards may not be compatible. Therefore always check the compatibility issues.? There are better versions of the R4 as well which are available in the market with both enhanced speed and performance.

There are many manufacturers of R4 type cards these days. it is always important to ensure the efficiency of the product before purchasing a card. A company that strongly guarantees its products and one that has reputation in the market must be the one to buy cards from. A sub standard card will be not work properly after some time and could even corrupt the console. ?Enjoy a great multimedia experience on Nintendo DS, thanks to R4 cards.?

Source: http://www.digitalsensus.com/2012/08/R4-3DS.html

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Nicaragua jails Mexican policeman, 17 others transporting cash

MANAGUA (Reuters) - A Nicaraguan judge on Saturday ordered the incarceration of 18 people, including a Mexican policeman, who had posed as journalists while attempting to pass through the Central American country last week with at least $7 million in cash.

The suspects will remain behind bars in "protective custody" until a September 5 court date, when they will face money laundering and other criminal charges lodged by the federal prosecutors.

"I order that all of the accused before me be sent to protective custody as a precautionary measure," Judge Julio Cesar Arias said on Saturday following a formal presentation of charges.

The group was detained on Monday as it tried to cross from the north into Nicaragua from neighboring Honduras with the cash in six vehicles, Nicaragua's national police commissioner Aminta Granera said on Friday.

The chief prosecutor in the case, Ana Guido, told reporters Saturday the investigation is ongoing and no determination had been reached as to which, if any, criminal organization the detainees might belong.

Nicaraguan authorities have yet to finish counting the confiscated cash, nor have they confirmed the nationality of all the suspects, although each carried Mexican documents when they were arrested.

Several of the detainees, including the police officer, have been confirmed as Mexican citizens.

Granera said Friday the group had posed as reporters from Televisa, Mexico's largest broadcaster, and that police had found video cameras, audio equipment, microphones and satellite phones in the vehicles.

Nicaraguan authorities determined on Thursday that the detainees had no link to Televisa and were working with Interpol to see whether they belonged to any criminal organizations.

Over the past decade, drug-running cartels have cultivated Central American supply lines as Mexico's government wages a military offensive against the gangs throughout the country.

There have been more than 55,000 drug-related killings in Mexico since President Felipe Calderon took office in 2006.

(Reporting by Ivan Castro; writing by David Alire Garcia; editing by Todd Eastham)

Source: http://news.yahoo.com/nicaragua-jails-mexican-policeman-17-others-transporting-cash-213804322.html

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Saturday Personal Finance GIFs | Money After Graduation

August 25, 2012 ? Laugh ?

Saturday Personal Finance GIFs is a weekly feature on MoneyAfterGraduation.com. To see more,?click here!

When putting together a spreadsheet of the month?s expenses (courtesy of Mikhaila at A Fistful O? Dollars)

How I feel when I see zero balance on my credit card statement (courtesy of Natalie at Debt and the Girl)

When no one comments on a post I put a lot of effort into:

When my friends & I go to the movie theatre and ask if I want to get something from the overpriced concession stand:

When all my credit card statements from July came in:

?So I immediately transferred $600 from my Emergency Fund into my chequing account even though payday was right around the corner:

And then the rest of August just felt like this:

Hope you?re having a great weekend!

Source: http://www.moneyaftergraduation.com/2012/08/25/saturday-personal-finance-gifs-13/

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