Trading glitches a unhappy new marketplace reality

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nasdaq halts trading

Nasdaq halts trade in some-more than 2700 bonds given of a technical glitch.

In a second poignant trade glitch this week, many vital exchanges were forced to hindrance trade in some-more than 2,700 Nasdaq-listed bonds for several hours Thursday.

Some of a market’s many renouned stocks, including Apple (AAPL, Fortune 500), Google (GOOG, Fortune 500), Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500) and Facebook (FB), were during a practical delay until trade resumed for all Nasdaq bonds during 3:25 p.m.

It’s nonetheless another black eye for a batch marketplace that has turn increasingly automated. It’s also another blow to Nasdaq (NDAQ), that has been underneath heated inspection given trade issues during a sell injured a initial open charity of Facebook.

Nasdaq attributed a problems to technical issues during a executive clearinghouse famous as a “UTP SIP,” that is a confidence information routine where 13 open exchanges send bid and offer prices on Nasdaq-listed stocks.

Nasdaq hasn’t suggested what caused a issues there.

Related: Mini-crashes occur a dozen times a day

“In 26 years in a industry, I’ve never seen a SIP have a inauspicious disaster like this,” pronounced Chris Nagy, boss of a marketplace consulting organisation KOR trade and a former conduct of trade during TD Ameritrade.

Dennis Dick,

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Icahn turns adult a feverishness on Apple batch buyback

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icahn tweet

Carl Icahn tweeted again on Thursday about pulling Apple to boost a batch buyback, and he claims CEO Tim Cook is on house with a idea.

He’s baaaa-aaaack! Carl Icahn tweeted again on Thursday about pulling Apple to boost a batch buyback, and he claims CEO Tim Cook is on house with a idea.

The romantic financier pronounced a span skeleton to have cooking in September, and that Cook “believes in buyback and is doing one. What will be discussed is magnitude.”

Icahn’s twitter helped Apple shares prune their progressing waste and tighten a trade day somewhat higher. Apple’s batch was halted when when Icahn sent a twitter due to a singular enlarged outage of Nasdaq exchange.

His post combined about $4 billion to Apple’s marketplace top in a small half-hour left in a trade day after a sell reopened.

That post came a week after Icahn announced, also around Twitter, that he has taken a “large” interest in Apple (AAPL, Fortune 500) and that he’s pulling a association to use even some-more of a income to prerogative shareholders.

In May, Apple announced it will lapse $100 billion to shareholders over a subsequent 3 years by a multiple of batch buybacks and a quarterly division of $3.05 per share. Apple’s preference came shortly after David Einhorn of Greenlight Capital publicly slammed the association for “hoarding” billions in cash.

Clearly, Icahn doesn’t think

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Transgender and struggling to compensate medical costs

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bradley manning transgender

Convicted WikiLeaks source Bradley Manning says he wants to bear hormone therapy while in prison.

For Bradley Manning, a troops jail might be a next-to-impossible place to start his transition to a woman. The Army says it doesn’t yield hormone therapy or passionate reassignment medicine to inmates.

But even outward of jail walls, removing this kind of medical assistance is mostly a struggle.

In a corporate world, usually 42% of employers have word skeleton that cover short-term leave, mental health counseling, hormone therapy and surgical procedures for transgender employees, according to a consult by a Human Rights Campaign.

That’s adult from 19% in 2008, though it still means a infancy of employers don’t offer this coverage.

And profitable out of slot can be a complicated burden.

Related: Transgender pursuit seekers face ascending battle

The cost to transition from one gender to another varies greatly.

Hormone deputy therapy can cost around $30 per month and therapist visits can cost some-more than $100 each. Undergoing medicine is reduction common though typically rings adult during anywhere between $5,000 and $30,000 depending on a kind of operation, estimates Masen Davis, executive executive of a Transgender Law Center.

Transgender and impoverished for 4 years  

“It can be formidable for transgender individuals — generally a reduce income and

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CIBC: student debt becomes ‘parent debt’

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TORONTO – A poll commissioned by CIBC (TSX:CM) says many Canadian parents are delaying their retirement and taking on debt to help put their children through school.

Of 1,000 Canadian parents with kids under 25 surveyed by Leger Marketing, 36 per cent said they’ve had to postpone their retirement due to their children’s post-secondary education costs.

Within that group, 19 per cent were planning to put off retirement by more than five years.

A third of respondents said they have taken on additional debt to help pay for their kids’ tuition and other expenses.

“Many Canadians are focused on building retirement savings or reducing debt, but the costs you can incur when helping your children with college or university can impact both of those goals,” said Christina Kramer, an executive vice-president at CIBC.

“The expenses associated with a child’s education often come when parents are in their 40s and 50s and are looking to accelerate retirement savings. This means some parents will need more working years to close the gap created by the costs of their child’s education.”

Kramer says the earlier parents can start planning for their kids’ education, the better. She recommends working with a financial adviser, managing debt effectively and using a Registered Education Savings Plan, or RESP, to build up savings.

“It can be a challenge for parents who are trying to turn the corner on their own debt to borrow more to help pay for tuition bills, which is why it’s so important to talk to an adviser and build education

Article source: http://money.ca.msn.com/savings-debt/yourmoney/cibc-student-debt-becomes-parent-debt-2

Disclose offshore holdings to keep tax man away

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TORONTO – An offshore account may seem like an intimidating prospect, and one that could lead to trouble if it isn’t done right.

But experts say that as long as you follow the appropriate reporting rules set out by the Canada Revenue Agency, offshore bank accounts can be a practical and, in some cases, necessary way to deal with your finances.

“When we hear about offshore, we think tax evasion, palm trees and tax havens,” said Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management.

“But there’s certainly no problem with having an offshore bank account to do offshore banking, for example, if you vacation or if you own a property outside of Canada.

If you have a place in Florida or place in Arizona it makes a lot of sense.”

Setting up an account in the U.S. or abroad is no different than opening a bank account in Canada and, if it’s simply being used as a checking account, there aren’t any additional fees.

That’s not the case, however, if someone earns money in the U.S. or elsewhere, keeps those earnings in an account in that country and fails to declare the income on their Canadian tax return.

“The most common issue that we have in Canada is the offshore reporting rules,” said Golombek.

If someone has more than $100,000 in foreign investments, whether it’s money in a foreign bank account or an investment account, property that’s rented out or even shares of a foreign company held in a Canadian account,

Article source: http://money.ca.msn.com/savings-debt/yourmoney/disclose-offshore-holdings-to-keep-tax-man-away-2

What’s it cost to raise a child in Canada?

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OTTAWA – A prominent think tank raised eyebrows on Thursday by releasing data suggesting the financial toll of parenthood has never been lighter.

Research from the right-of-centre Fraser Institute found that the cost of raising a child in Canada totalled no more than $4,500 a year per offspring, less than half of more common estimates of $10,000 or more.

The research group, which studies economic and social issues from a fiscally conservative perspective, also argued the figure could be lowered even further by penny-wise parents who commit to pruning all unnecessary expenses from their child-rearing budgets.

But the Institute’s research was greeted with consternation by many parents who contend the study fails to account for the rigours of modern life.

The research deliberately excluded the cost of day-care, housing and extra-curricular activities, all of which are vital and costly items in most family budgets, they said.

Study author Chris Sarlo said the bare-bones approach was a deliberate research decision.

The cost of raising a child in this country is a controversial issue, he conceded, adding family finances are mostly subjective and therefore difficult to compare.

Sarlo opted to focus only on the additional cost each child would bring to the family, leaving out expenses that may have been previously incurred by the parents such as housing and automobiles.

“If we lump in costs that were going to be there anyway, . . . . . . I think it’s inappropriate to put that on the children,” Sarlo said in a telephone interview from North Bay, Ont. “That’s not

Article source: http://money.ca.msn.com/savings-debt/yourmoney/whats-it-cost-to-raise-a-child-in-canada

Banks face $2 billion U.K. credit label liaison bill

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british banks

British and other banks will take partial in a intrigue to recompense business in a latest of a array of scandals concerning bungle in a financial services industry.

Banks and credit label issuers will have to compensate adult to £1.3 billion ($2 billion) remuneration to British business who were sole temperament burglary and rascal word policies they didn’t need.

It’s a latest in a array of fines, settlements and remuneration payments in a attention as banks try to pierce on from a new contemptible story of manipulating seductiveness rates, breaking money-laundering laws and offered people and businesses formidable products that were inapt or not scrupulously explained.

Regulators pronounced they were environment adult a module to concede 7 million business to explain remuneration relating to 23 million word policies sole by Card Protection Plan (CPP), that was fined £10.5 million in Nov 2012.

“Customers were given dubious and misleading information about a policies so that they bought cover that possibly was not needed, or to cover risks that had been severely exaggerated,” a Financial Conduct Authority pronounced in a statement.

Related: America’s favorite credit cards

The policies cost between £30 and £80 per year and were widely mis-sold by CPP. Many business were referred to CPP by a biggest names in U.K. financial services.

Thirteen banks and credit label issuers, including Barclays (BCBAY), HSBC (HBC),

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Furloughs cost me $142 a paycheck

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laurie vroman furlough

Laurie Vroman, a singular mom to 3 kids, including Micah, 9 saw her paycheck cut by $142 any dual weeks. She skipped tyro loan payments, among other tough choices.

Defense Department furloughs forced Laurie Vroman to skip her tyro loan payments, shave coupons and spin to family for financial support.

For Vroman, a normal bi-weekly paycheck puts $984 in a bank, after taxes and benefits. Furloughs trimmed $142 from any paycheck, bringing her take-home down to $842.

For a 31-year-old singular mom who creates $37,000 a year, a cuts were painful.

“I was means to do back-to propagandize shopping, given my relatives pitched in and gave me income toward back-to-school supplies,” pronounced Vroman, who works as a government partner during a Watervliet Arsenal, nearby Albany, N.Y., that creates cannons and other artillery.

Related: Defense furloughs means medicine delays

Vroman was among a 650,000 sovereign invulnerability workers who went though compensate for 6 days this summer due to some $85 billion in sovereign spending cuts. The furloughs for invulnerability workers finished final week, though a embellished paychecks loiter an additional week for many, given sovereign workers are paid any other week.

Vroman, an Air Force veteran, expects her initial easy paycheck in September.

In credentials for slimmer paychecks, she had already traded in her Hyundai Santa Fe for a some-more fuel fit Sonata, and had cut out dinners with her family.

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Selling your aged iPhone? Do it now

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iphone for sale

The trade-in value of aged iPhones will plunge before Apple announces a newest chronicle in September.

That aged iPhone sitting in a bottom of your sock drawer could be value $300 — though usually if we act now.

Old iPhones reason their value improved than any other smartphone on a market. But iPhones’ resale value takes a nosedive right before Apple announces a new chronicle of a smartphone — and Apple (AAPL, Fortune 500) is approaching to do only that on Sept. 10.

Apple is widely approaching to deliver a gold-colored iPhone, a fingerprint sensor and a new low-cost “iPhone C.” No matter what it eventually will demeanour like, a new iPhone will send Apple fans using to a store and acid for a approach to get their aged phone out of their hands.

But watchful until a tangible proclamation means we are already late to a game.

Steve Wozniak rips new 'Jobs' movie 

Gazelle, an online trade-in use that will compensate we money for promulgation in an aged gadget, perceived one iPhone each 5 seconds final week. — a 70% boost over a prior week. Gazelle now pays $300 for a 16 gigabyte ATT (T, Fortune 500) iPhone 5 in good condition. You can even close in that quote now and send

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DOMA ruling’s ignored benefit: Immigration rights

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same sex immigration benefits

Judy Rickard and Karin Bogliolo are finally reunited after being forced to live in apart countries for years.

Many same-sex couples have been stranded in opposite countries by a sovereign Defense of Marriage Act. With a passing of DOMA, that is changing fast.

Just ask Judy Rickard of California and British citizen Karin Bogliolo.

They’ve been together for scarcely 10 years and got legally married in a United States dual years ago. But DOMA, that tangible matrimony as between a male and a woman, prevented Bogliolo from removing U.S. citizenship.

So Rickard, who is 65, and Bogliolo, 73, have been bouncing behind and onward between California and a U.K. “Yo-yo people” and “love exiles” are how they report their predicament.

And it has been costly.

In 2009, Rickard late early during a reduced grant from her pursuit during San Jose State University so she could spend 6 months a year in a U.K. — a many authorised on a visitor’s visa.

Leading apart lives also meant double losses like lease and utilities, along with a flights behind and onward to see any other.

The craft tickets cost around $1,000 apiece. Bogliolo was spending another $1,000 or so a month on a tiny unit and utilities in a U.K.

“We’ve fundamentally been using dual households, and we were vital like abounding people. Rich people can go off and take trips abroad whenever

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