Banks discounts apply to credit cards and consumer
February 23, 2009 by
Filed under Business
Since yesterday, some banks began to transfer the cut to consumers, as did the BancoEstado, which advertises on its website a series of ofertones, deduction of 3 points in all credit card rates and consumption.
Banco de Chile also decided to benefit its customers with marketing campaigns targeted at SMEs and cuentacorrentistas.
The discount rate is also going to be reflected in the housing market. Some companies maintain their bids throughout February, as well as departments at cost with discounts or free 14 months.
There would be likely to add offers that banks and financial institutions take place in March.
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New York Stock Exchange collapses to its lowest level in a decade
February 23, 2009 by
Filed under Business
NEW YORK (AP) – The major indexes on Wall Street fell Monday to its worst position in over a decade, drawn by a rapid collapse in investor confidence.
The Dow Jones industrial average fell nearly 251 points to its lowest close since October 28, 1997 and the Standard & Poor’s 500 fell to its worst level since under the April 11, 1997, to succumb to the growing concern that the end of the recession in the U.S. is not yet in sight.
The three relevant indices lost more than 3%. The Dow Jones 100 is just above 7,000 points.
“Everyone is throwing in the towel,” said Keith Springer, president of Capital Financial Advisory Services.
Most of the actions of the financial sector collapsed, despite the fact that government agencies, led by the Treasury Department announced this week a restructuring of the banking rescue plan. The plan includes the option to increase government ownership in financial institutions without having to inject more money from taxpayers.
Although the government has said it does not want to nationalize the banks, many investors are still very concerned that this could happen because the banks could continue to sustain losses because of the recession.
The actions of the technology sector also plunged after the newspaper The Wall Street Journal reported that the new management of Yahoo Inc. plans to restructure the company.
The Dow Jones lost 250.89 points (3.41%) to 7114.78 units. Its previous level of 6971.32 was similar units in October 1997.
The Standard & Poor’s 500 fell 26.72 (3.47%) to 743.33 units. The Nasdaq composite index fell 53.51 points (3.71%) to 1387.72 units.
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Wall Street gave 3.4 per cent and closed at its lowest level since 1997
February 23, 2009 by
Filed under Business
According to provisional data, the Dow Jones fell 250.89 points and stood at 7114.78 units, while the Nasdaq and the selective S & P 500 also lost over three percent.
