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TradingFloor.com Releases Video On European Growth

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the current European growth.

The European growth situation is particularly in focus, with quite a bit of key macro data being published which is expected to confirm the ‘growth story’. In the video Mads Koefoed, macro strategist at Saxo Bank’s TradingFloor.com discusses the growth in Europe and in the U.S.

Mads first discusses Eurozone industrial production in addition to the Eurozone and some individual members’ GDP reports. The industrial production numbers of -0.1% were a little below consensus expectations but above TradingFloor.com’s expectations of -0.4%. Even though the numbers had declined, the manufacturing sector is still growing strongly in the Eurozone. The declining numbers are thought to be attributed to the very strong November numbers, which saw industrial production rising 1.4% month on month, so some give back is it to be expected in December’s numbers. The very poor weather in December will also have had some affect on production numbers. Mads expects the numbers to improve for January.

The overall GDP reports were also fairly good and what was expected. Countries like Spain performed better than expected with a result of 2% up. With Germany continuing to drive the Eurozone, Mads predicts a fairly robust growth in the Eurozone in the fourth quarter.

Furthermore, also in focus is a meeting of Europe’s Finance Ministers and any indications of increasing the debt stability of southern Eurozone members. While Mads does not foresee much news coming out of the event, he does foresee them discussing the Germany and France proposal to put in place a measure against debt increase to hopefully ensure a more harmonized corporate tax system in the Eurozone, despite other leaders not being completely behind this.

Via EPR Network
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TradingFloor.com Releases Video on the German Economy

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released the video ‘Why the German economy continues to outperform in Eurozone’.

Despite a minor correction in industrial orders in December, the German economy continues to stand out from the rest of the Eurozone members in terms of growth. In the video Mads Koefoed, macro strategist at Saxo Bank’s Tradingfloor.com, discusses the performance of Europe’s largest economy versus the 16 other Eurozone members.

Mads Koefoed discusses two main reasons why he believes the Germany economy is continuing to outperform other countries in the Eurozone. Germany is turning part of its foreign exports away from other countries in the Eurozone and towards Asia. While Germany still continues to do a lot of trade within the Eurozone, by turning to Asia, where more solid growth is taking place, it is doing better than other Eurozone countries that have not moved some of their trade overseas.

Southern countries such as Spain, Portugal and Italy have also seen higher cuts on public spending than have happened in Germany, meaning Germany should recover much stronger.

Mads is optimistic that the economic growth of Germany will continue throughout 2011 and hopefully into 2012, because while Germany is cutting costs, it is not doing it as harshly as other countries.

Northern areas of the Eurozone such as the Netherlands and France are expected to catch up with Germany first, though it looks doubtful whether the southern countries will make real advance any time soon. Mads mentions that other countries outside of the Eurozone, such as the UK, should catch up fairly quickly as well. While the UK may see a weak first half due to the rise in VAT and the public spending cuts, the second half of 2011 should see a strong rebound.

The Eurozone economy video is available to view on the Saxo Bank TradingFloor website.

Via EPR Network
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Singapore Options and Futures Exchange (SGOFX) Announces New Copper Contract

A new contract was released to subscribers. This contract is for copper ore and the length and investment opportunity for subscribers is unique.

Singapore Options and Futures Exchange continues to expand its offerings of pre-sold commodities contract participations with the announcement today of a Copper Ore contract that has an approximate length of 100 days from inception to payout.

“We are excited about our new Copper Ore offering, not only because we have expanded into this potentially lucrative commodity, but also because we are continuing to lengthen our contracts, allowing us to maintain attractive risk-adjusted returns while increasing profitability” said Mr. Samuel D. Brown, SGOFX press officer.

The future holds that even more contracts will be available. From Coffee and Sugar; to Iron Ore and Copper Ore, SGOFX is working hard to offer investors a variety of investment opportunities so that they can realize a more varied investment opportunity.

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SGOFX Visitors and Culture Center

Singapore Options and Futures Exchange (SGOFX), today announced its plans for the construction of its new Visitors and Cultural Center facility. The center will be located the SGOFX office and will greatly expand the footprint of the exchange space. The facility measures 1200 square meters and includes raised flooring, provides 24×7 climate control through grade air handling units and provides electrical power redundancy through a combination of Uninterruptible Power Supplies and diesel back up power generator. The SGOFX Visitors and Cultural Center will offer visitors a variety of presentations, in English, on the main aspects of the Securities, Commodities and Futures Exchange, its markets, trading systems, projects, indices and statistics.

SGOFX Visitors and Cultural Center is due for opening in April 2011 and is expected to receive 350-400 visitors a day. Here, visitors can watch 3-D institutional videos, lectures and simulations of trades carried out by a brokerage, in addition to learning about the history of the Exchange.

The space will as well provide visitors with the opportunity of enjoying works of art by renowned foreign artists and exhibitions of historic value.

“We are extremely pleased to announce the upcoming 2011 opening of our new Visitors and Cultural Center facility. This project is a major undertaking and our entire team handles the transition professionally and we now look forward to providing our customers an even better experience and understanding of the commodity markets and exchange insights”, said Mr. Samuel D. Brown, SGOFX press officer.

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Irevna Achieves Milestone as Argentina Crosses 50 Employees

Irevna continues to expand as its Buenos Aires, Argentina research center crossed the milestone of 50 permanent employees. Irevna Argentina currently now has a head count of 51 after three analysts were hired in April. Irevna has hired 15 new employees so far this year.

“We at Irevna strive to offer the best solutions to fit the specific needs of our clients. This includes the capability to provide our customers around-the-clock service with research centers across geographies and time zones in countries such as Argentina, Poland, and India,” says Mani G. V. Mani, Senior Director, Offshoring Business – Irevna. “We continue to prioritize the needs of our clients first, which is the reason Irevna continues to experience such strong growth.

Irevna has been ramping up its hiring in Argentina as clients want the benefits of offshoring, such as labor arbitrage with highly qualified resources, while maintaining a high level of interaction with the offshore analyst. Many clients based in the US and Canada require real-time support during earnings season or periods of market volatility Outsourcing to Argentina, which is only one hour ahead of New York during most of the year, is a solution that many clients have been requesting.

“The increase in employees in Argentina is also the result of an internal strategic decision. Growth is a primary objective for 2010 and we are actively recruiting new analysts,” says Gustavo Araujo, Group Lead of Irevna Argentina.

Irevna was the first KPO to open a Western Hemisphere Deliver Center in Argentina in November 2006. Irevna has started a research center in Wroclaw, Poland to satisfy the demand for similar services in Europe. Irevna is the world’s top-ranked research, analytical and financial services offshoring firm with a global workforce of close to 1,300 analysts.

Via EPR Network
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CRISIL-Irevna Buys Pipal Research

CRISIL-Irevna, the world’s top-ranked financial services and investment Knowledge Process Outsourcing (KPO) firm, today announced the acquisition of Pipal Research (Pipal), a large player in the KPO Industry. Pipal is headquartered in Chicago. The combination of CRISIL-Irevna and Pipal will be uniquely positioned in the high-end analytical offshoring space with the widest range of services, geographic locations, and customer diversity. Pipal’s operations are complementary to CRISIL-Irevna’s, enabling the combine to strengthen its leadership in the KPO industry. CRISIL Irevna has consistently been ranked the No.1 financial services and investment KPO firm by the Datamonitor Black Book of Outsourcing.

Speaking of the acquisition, Roopa Kudva, Managing Director and CEO of CRISIL Ltd, said “This is an important milestone in the CRISIL-Irevna journey, enabling us to further strengthen our leadership position in the high-end KPO space. Pipal’s deeply embedded client relationships provide a strong platform for growth. The two organisations have complementary strengths, which will enable us to serve our clients better. We look forward to working with Pipal’s talented employees and providing them exciting career growth paths.”

Mr. G.V. Mani, Senior Director, Irevna, added, “The acquisition of Pipal Research not only gives us an opportunity to expand our spectrum of offerings but also presents us a strong customer base, partner franchise and most importantly talented employees, who will enrich our service capabilities.”

Pipal provides business research and investment research services. Its clients include leading global firms in the telecommunications, technology, consumer packaged goods, and industrial sectors, and in the financial services space. Pipal has three research centres in India (Gurgaon, Noida and Bangalore), and an office in Chicago. Majority-owned by Firstsource Solutions Ltd, Pipal reported USD8.1 million of revenue for the financial year ended March 31, 2010.

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Everbrighter Financial – The Ones You Can Trust

Everbrighter financial Ltd. is pleased to announce the launch of its new website at www.ebfgroup.eu and hopes that this new interface will provide clients, both new and old, with all the information and help they require.

Everbrighter financial provides “turn-key” solutions of transfer agent, legal, EDGAR and other related services to public and private companies. We serve as Transfer Agent performing the functions of original issue, cancellation and reissuance of stock certificates and uncertificated shares. We are committed to delivering a complete package of products and services focused on today’s technology but never losing sight that service is our first priority. Expect to receive prompt attention to your needs as well as those of your shareholders.

For more than 12 years Everbrighter financial has been an industry leading stock transfer agent, helping companies from around the world with their stock transfer and registrar needs. In all that time, we have never lost a client to dissatisfaction — NEVER! With the new improved website we are determined to carry on with this tradition of excellence.

We are proud of this unequalled record of achievement and we remain dedicated to providing our clients with superlative stock transfer agent services. Everbrighter financial provides a complete array of worry-free corporate stock transfer and registrar services. Our professional stock transfer agent staff will provide you with complete assistance with any corporate stock actions and guide you through any transfer of stock ownership.

Among stock transfer agents, Everbrighter financial stands out. The biggest difference between us and our competitors is our uncompromising dedication to providing unmatched service. When you experience the way we fulfill all of the needs that you, your company and your shareholders have, you will understand what we mean when we say service is what matters most.

The proof of our dedication to service is illustrated by the fact that in our 12 plus years, Everbrighter financial has never lost a client due to dissatisfaction!

Every time you call us, a real live human being will actually answer the phone in three rings or less! No more spending ten minutes winding through a voice mail system, just to leave a message for someone who isn’t even there! Every member of Everbrighter financial will know you and be able to assist you.

We do not have the overhead of the mega-transfer agents and we pass the savings on to you. The efficiency of our expert stock transfer agent staff can also save you thousands of dollars as we help you eliminate costly mistakes.

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Saxo Bank Releases Quarterly Outlook For Q4 2010

In its economic outlook for the fourth quarter of 2010, Saxo Bank recognises growing optimism in recent months due to a strong earnings season but the state of the US economy still overshadows these results. Saxo Bank, the trading and investment specialist, expects final sales to remain weak in the second half of 2010 and into 2011 and the unemployment rate to continue to hover just below 10% in the fourth quarter.

Commenting on the outlook, David Karsbøl, Saxo Bank’s Chief Economist said: “With the S&P 500 currently trading around the same level as it did at the beginning of the year, and with the lack of investments due to a weak housing market, the ongoing trouble in Southern Europe, and most developed economies, Saxo Bank fears that a cold front will stall, bringing more challenges and adversity going into 2011.”

Equities rely on the notion that the impressive earnings growth rates, recorded in earlier quarters, can be sustained. According to the Bank, the trouble is that earnings growth currently comes almost exclusively from one source: margin expansion, and while productivity gains can only take income to a certain level, sales growth must soon step up to the challenge.

The Bank predicts that spending at state and local levels remains a downward trend as policymakers scramble to balance their budgets. Despite the fact that the recession is generally perceived to have ended in the summer of 2009, it is still very much a reality at state and local levels.

“Double dip fears re-emerged over the summer as the deceleration in the US economy progressed as predicted in our 2010 Yearly Outlook. We expect growth to come to a complete halt in the fourth quarter of 2010 as consumption deleverages, the manufacturing sector will slow down, and investments will be negatively affected by the weak housing market. Unfortunately, the risk of a double dip, within the next few quarters, is substantial in our view.” Karsbøl added.

The Quarterly Outlook Q4 2010 focuses on the following areas: general market comment, macros forecast, FX outlook, equity outlook, commodity outlook and policy rates.

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Accounting, Banks, Business, Checks, Financial, Financial Services

Never Reorder Bank Checks with ezCheckPersonal MICR Check Printing Software

Personal check printing software has become the more and more popular owing to the efficiency and convenience it provides its users. Anyone fed up with writing checks by hand or complicated check-writing software that takes forever can find new satisfaction in the latest edition of ezCheckPersonal check writing software developed by Halfpricesoft.com.

New features in the latest edition ofezCheckPersonal make check writing even faster and easier. ezCheckPersonal is the personal and home-use version of the popular check writing software from software developer Halfpricesoft.com. The newly released version of ezCheckPersonal includes two new time-saving and money-saving features:

– Add a new check by duplicating an old check
– Import/Export features

The duplicating old check feature speeds up check printing for checks that are similar to previous checks. When customers write a check for a monthly bill, they can save the information so they can write checks for future months with just a couple clicks of the mouse. This can save a lot of time in paying bills or writing checks for other frequent payments. Once the old check information is imported, the user can modify amounts, dates and other information as needed.

All software from Halfpricesoft.com, including ezCheckPersonal, is designed to be incredibly easy to use. Customers can begin printing checks within minutes of downloading and installing the software. The intuitive graphical interface leads users step by step through the check writing and printing process.

“Simple, easy, fast. That’s what computer software should be,” said Halfpricesoft.com founder Dr. Ge. “You shouldn’t need a programming degree or accounting background to use personal finance or check writing software. That’s why we made ezCheckPersonal so simple and easy to use.”

The best of all, customers can try ezCheckPersonal for free , even get the full version forFREE.

Customers can go online to http://www.halfpricesoft.com/check-printing-software.asp and try ezCheckPersonal free for 30 days. This is a risk-free way for customers to see whether they like the software and make sure it meets their needs. The software customers download is fully functional for 30 days. After 30 days, customers must purchase a license key to unlock ezCheckPersonal for unlimited use. License keys can be purchased online for just $24 per installation.

Additionally, a special offer through TrialPay allows customers to get the full, unlimited version of ezCheckPersonal for free simply by trying products and services from partnering companies. Details are online.

ezCheckPersonal Software Feature List
– Support unlimited bank accounts
– Print your own checks on blank computer checks
– Print image logo and signature on checks
– Edit check layout and create customized personal checks
– Easy to use reports
– Easy data import/export
– Support multiple blank personal check formats (3 or 4 checks per page)

For more information about ezCheckPersonal and Halfpricesoft.com, please visit ezCheckPersonal software page online at http://www.halfpricesoft.com/check-printing-software.asp.

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Continued Progress And Growth For The Co-operative Group

Financial and operational highlights

* Strong performance across the Group, driven by continued investment
* Balance sheet strong and cash position well managed
* Somerfield and Britannia integration processes on track and progressing well
* Root-and-branch overhaul of the business continues with ongoing investment in the brand and transformation of the entire estate
* Food business delivers strong result in tough market conditions

o Sales up 11.5% to £3.9bn
o Underlying trading profit up 12.6% to £169.7m
o Total like-for-like sales down 1%, impacted by disruption of Somerfield integration
o Like-for-like food sales in rebranded and refitted stores up 2.5%
o 2,500 food stores converted to new brand including over 50% of Somerfield stores
o Fairtrade made available to millions more shoppers at Somerfield as part of the range integration programme
o 1 billion less carrier bags given away in stores over past three years

* Financial services business produces strong result

o CFS Operating profit up 34% to £109.3m (£81.4m)
o CFS total deposits up by £1.4bn
o New general insurance policies up 32%
o Like-for-like mortgage applications up 31%
o Total impairments down 41%
o Customer funding ratio strengthened further to 110%
o Core products aligned across Co-operative and Britannia channels

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Experian Launches ProtectMyID

ProtectMyID offers a comprehensive online service to allow consumers to keep track of where their personal information is being used to secure credit. The launch of the service follows research by Experian that shows identity fraud is on the increase and is more widespread than ever. Experian revealed that the number of identity fraud victims who sought help from the company last year leapt by nearly 20% compared to the year before.

ProtectMyID provides credit report monitoring with text or email alerts if any credit is applied for in the user’s name. Details of the activity and advice on what to do is then posted to the user’s personal and secure online account. As part of the service users also have access to a dedicated Experian caseworker who can offer individual advice to help resolve the suspected ID theft or other fraudulent activity. Other benefits of the service include free fraud insurance to cover the cost of resolution up to £75,000 (provided by ARC, underwritten by AXA) and the option for CIFAS Protective Registration.

The Experian research revealed that in 2009, people were taking longer to discover that they have become a victim of fraud, indicating that fraudsters are getting better at covering their tracks; the average time taken is now 416 days, up 17 days compared to 2008. Year on year, reported fraud rose most sharply in early summer, rising by 57% in May and by 74% in June – the highest number ever reported to Experian in any single month. The average financial loss per victim was £1,100 in 2009 and the most extreme loss reported to Experian was for almost £59,000.

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Saxo Bank Launches New Morning Markets And Trading Notes On TradingFloor.com

Saxo Bank, the specialist in online trading and investment, has launched two new European morning publications entitled the ‘Morning Kickoff @ Saxo Bank’ and the ‘Saxo Bank Charts of the Day’ which will be published through the Tradingfloor.com site.

The trading Morning Kickoff @ Saxo Bank will deliver analysis and trading commentary on both short-term intraday events and the longer-term trends which are important to traders dealing Forex – foreign exchange or equity markets.

The Saxo Bank Charts of the Day, on the other hand, provides a snapshot of key graphical indicators traders should be watching to detect any changes in market trends and sentiment.

David Karsbol, Saxo Bank’s Chief Economist, said, “The creation of these two notes marks our (Saxo Bank / Tradingfloor.com) desire to provide readers with a comprehensive overview of the market drivers without cluttering up an already information-overloaded world.

“We have balanced the need for fundamental information on what has happened, what is about to happen and what could transpire, with a set of charts to help understand the relationships between key instruments and indicators.”

Tradingfloor.com is a website bringing traders insightful commentary, analysis and research to keep them informed on strategies and news in Forex, FX-options, stocks,commodities and CFDs. Some of its key publications and channels include:

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Possible £2.7bn Bill for PPI Reclaim Compensation

The Financial Services Authority has announced that compensation for mis-sold PPI reclaims could reach as much as £2.7bn and involve 2.75 million people in the UK. Complaints regarding PPI reclaims are expected to rise to over 550,000 per year for the next five years, with compensation for PPI reclaims varying from £900 – £1,800 per person.

The FSA found ‘wide and deep evidence of weakness in PPI sales’ over the last five years and warned lenders they have until December 1st 2010 to adopt a new set of rules that deal with PPI reclaim complaints, key features of which include:

  • If the customer would not have bought the policy in the first place, the PPI premiums plus interest should be reimbursed.
  • If the customer was persuaded to buy a premium with a single up-front payment instead of a regular premium policy, the customer should be reinstated to the position they would have been if they had done.

Dan Waters of the FSA said: “The rules are the culmination of months of hard work and now, with these measures, we look forward to consumers being treated fairly whether they are buying or complaining about PPI. Since we took over the regulation of PPI we’ve carried out 24 investigations and three thematic reviews, issued warnings, halted the selling of single premium PPI with unsecured personal loans, visited over 200 firms, and handed out some very significant fines.”

Lenders up in arms about new PPI reclaim rules

Many have argued the new PPI reclaim rules are unnecessary and disproportionate, with lenders waging a behind-the-scenes campaign to stop the new regulations from being instated.

However, the FSA is adamant the new rules are necessary given the behaviour of some lenders when faced with dealing with PPI reclaims. Some lenders have been automatically turning down almost half of the PPI reclaim complaints they receive with others have been rejecting every single one. Of those customers who had their PPI reclaims rejected, 1 in 3 turned to the Financial Ombudsman Service for help and 80% had their complaints upheld. Such is the extent of the problem, last year the FSA instructed lenders to open up 185,000 rejected PPI reclaims and review them.

For claims comparison site, writeoffloan.com, the behaviour of the lenders is nothing new. “The new FSA rules are incredibly welcome, For years lenders have been mis-selling PPI insurance alongside loans to everyone they could. Often they knew the premiums to be unnecessary or that the customer would be unable to claim on the policy because they were exempt from doing so when they took them out. Sometimes they didn’t even bother telling the borrower they were adding a PPI premium. Customers had no idea they even had an insurance policy.”

The spokesperson added; “The numbers of people coming to us for help with PPI reclaims has risen dramatically over the last 12 months and some of the stories we are hearing are quite shocking. It’s quite obvious the lenders are banking on people being disillusioned and put off when they repeatedly reject their PPI reclaims. That’s why many people need a helping hand from companies like ours to deal with the tactics of these unscrupulous lenders who have simply instated a blanket ban on dealing with PPI reclaims regardless of the merit of the customer’s case. Luckily we understand PPI reclaim law and aren’t so easily put off by the tactics of lenders”.

The Competition Commission is also expected to announce a ban on selling PPI policies at the point when someone is granted a loan. Some lenders however have realised the game is up and have already stopped offering polices, including HSBC and Lloyds.

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Saxo Bank Releases New Monthly Equity Research On Value Stocks In tradingfloor.com

Saxo Bank, the specialist in online trading and investment, has launched a new monthly equity research publication entitled “Global Value Equity Strategy” focused on highlighting the most undervalued stocks from around the world. It will appear each month on the Equities section of www.tradingfloor.com.

The “Global Value Equity Strategy” will highlight a value portfolio on 30 of the most undervalued stocks from around the world according to a proprietary equity screening model. Each issue of the publication will included back testing results and performance evaluation of the live portfolio.

“One of the many advantages of such a value strategy is that the investment horizon is longer, usually one year or more, eliminating short-term volatility currently prevalent in equity markets,” said Christian Blaabjerg, chief equity strategist at Saxo Bank. “Equity related investment letters are widely distributed on the Internet nowadays. Few of them, however, focus on undervalued securities.”

The “Global Value Equity Strategy” report includes a brief introduction to value stocks, how to recognize them and why investing in them is likely to generate superior returns compared to widely used benchmarks. The phrases “growth stocks” and “value stocks” appear fairly often in financial reports and publications and the “Global Value Equity Strategy” explains that a growth stock is a company, often large and well-known, which has generated high and stable earnings growth over a longer period of time. Investors tend to value such stocks higher as they extrapolate historical growth into the future. The problem is that only few stocks are able to maintain such earnings growth for a long time and competition typically results in a slowdown, eroding margins and market share for growth companies. This seems to explain why they tend to be inferior investments.

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ProtectmyId.co.uk Reveals British Public Lending A Hand To Online Fraudsters

New research by ProtectmyID.co.uk has revealed just how relaxed the Great British public are when it comes to protecting themselves in the digital world. In the face of one of the fastest growing crimes in the world, the research has shown that millions of online users are readily making the information required to steal their identities available to digital fraudsters.

The online study commissioned to mark the launch of the new ProtectmyID.co.uk fraud protection service by Experian, revealed that three of the most regularly used passwords (town of birth (24%), date of birth (18%) and name of past schools (18%)**) also feature in a top ten of personal details which the public include on social networking and dating sites. By making these personal details so accessible online, people are making themselves easy targets for digital criminals who are ready to maximise this information for fraudulent activities such as ID theft.

The new study looked at how willing the public are to display personal details online compared with the information they are prepared to give out to people/companies contacting them by phone. The figures are vastly different, with minimal numbers of people admitting to give out such personal information directly to strangers (Town of Birth (7%), Name of past schools (1%), mother’s maiden name (6%)**).

In addition, the research revealed that over half the population (51%)** use the same online password for some or most of their online accounts, with 52%** admitting to never changing their online passwords, or only changing their passwords when they believe their online account may have been compromised or have been prompted to do so.

Speaking about the research results, Pete Turner, Managing Director of Experian Interactive, said: “The results of our research show that the message of identity fraud is still not being heard. The Internet is accessible to almost everyone and as the number of users grow, so do those using it for criminal purposes. Users need to be aware of what information they are giving out online and who might be accessing it. People are clearly aware of the dangers of giving away personal details to strangers calling them up on the phone, so why are they giving this information away to a huge audience online?”

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Saxo Bank Announces Half Year Results

Saxo Bank has announced its half year results, with the trading specialist reporting pre-tax profits of DKK 729 million and a net profit of DKK 551 million. The results for the first half of 2010 also revealed the company’s operating income reached DKK 1,992 million and an EBITDA of DKK 881 million. The solvency ratio for Saxo Bank Group was 19.2% (18.9%).

The results achieved in the first six months of 2010 are rooted in increased market activity as well as decisions and actions taken since shortly before the onset of the financial crisis in the autumn of 2008. Since then The Bank has:
– increased efficiency through IT investments, work process rationalisation, outsourcing and business focus;
– reduced its headcount by approximately 40% from the peak level in September 2008
– completed 10 acquisitions, all of which have lived up to expectations
– launched significant new products within FX, Equities and Commodities
– expanded the business to include asset management
– increased its geographical footprint with new offices in nine countries
– increased its deposits and funds under management significantly
– established IT development centres in India and Ukraine in addition to its Danish IT centre.

During the first six months of 2010, Saxo Bank saw positive developments in key drivers such as the number of clients, number of trades and trading volumes.

The Bank’s clients’ collateral deposits increased by approximately DKK 11 billion to DKK 26.6 billion including clients’ collateral deposits from the Nordic activities of E*Trade, which Saxo Bank acquired in April 2010. Saxo Asset Management, Saxo Bank’s legally segregated asset management division increased its assets under management from DKK 21 billion to 28.8 billion including DKK 4.2 billion from Saxo Bank A/S during the first six months of 2010.

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Saxo Bank Joins SunGard As Co-Title Sponsor In 2011

It has been announced that Saxobank, the trading and investment specialist, is to become a co-title sponsor with SunGard, one of the world’s leading software and technology services companies.

Following the announcement during the Tour de France that SunGard had agreed to become co-title sponsor for the next two years, Bjarne Riis, owner and manager of Riis Cycling A/S, revealed at a press conference in Copenhagen that Saxo Bank will be the other co-title sponsor in 2011. The Team will be called “Saxo Bank-SunGard Professional Cycling Team”.

Bjarne Riis said: “I am very happy to announce Saxo Bank and SunGard as future partners. With these two companies committed to the team, we have a solid financial foundation for the future. Saxo Bank and SunGard have ensured that the Team can continue its essential role within the world of cycling and will be able to maintain competing at the highest level. With Saxo Bank and SunGard as two strong backers, our future looks very bright. I am grateful for their commitment and I am confident that this will be mutually beneficial to all involved.”

Based on the prospects presented by the Team for 2011, Saxo Bank has taken a strategic decision to sponsor the Team for one more year. Saxo Bank has sponsored the Team since 2008 but took over as main title sponsor on 1 January 2009. According to the Bank, the sponsorship has already achieved great branding results and increased Saxo Bank’s name recognition around the world. Saxo Bank’s decision to continue the sponsorship for yet another year is based on a genuine wish to support the Team but also a commercial decision to further build on the advantages that Saxo Bank believes is extended through this additional commitment to the Team. The new, unnamed sponsor, announced during the Tour de France, was willing to step aside in order for the Team’s new plans to materialize.

In a joint statement, Kim Fournais and Lars Seier Christensen, Co-CEOs and co-founders of Saxo Bank, said: “Bjarne Riis has delivered excellent results over the past couple of years and has an impressive plan for 2011.We believe it’s important to recognize an unprecedented opportunity when you see one and therefore, we have decided to continue our sponsorship for one more year. In Saxo Bank, we always aim for the top and we believe Bjarne Riis and his Team can reach that goal next year. While our past collaboration with Bjarne Riis has been fantastic, we also know and trust the new co-title sponsor, SunGard, and that has made this strategic decision an even easier one to make.”

Via EPR Network
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Saxo Bank Re-Launches ForexTrading.com

Saxo Bank, the specialist in online trading and investment, has re-launched its website www.ForexTrading.com to provide a simple entry point to anyone looking to become a forex trader and to be a useful resource for foreign exchange traders, or others, interested in the trading of currencies.

The redesigned ForexTrading.com website will focus on providing visitors with all the information necessary for traders like topical forex market information, news and analysis from Saxo Bank and third parties, and on forex education using Saxo Bank’s TradeMentor program and comprehensive financial glossary. The ever-popular free forex charting widget will also remain on the website too.

“ForexTrading.com is already a successful domain, attracting large numbers of new and returning visitors. The new version of ForexTrading.com augments the popular forex trading information and analysis of the old site with much more content from Saxo Bank and third parties,” said Hugh Taggart, head of research & analysis tools at Saxo Bank.”

“Visitors to ForexTrading.com are often there just to learn how to trade forex or to see the latest forex quotes, news and analysis. This version of the website answers those needs concisely and provides a link to opening a trial or live account with Saxo Bank,” he added.

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Saxo Bank Celebrates Success Of Its Sponsorship During Tour De France

With Andy Schleck as team leader, the Saxo Bank team won four stages, the youth competition and finished in second place overall. Saxo Bank remained front and centre as the cycling drama unfolded, from Fabian Cancellara’s time trial win in the Rotterdam prologue and Andy Schleck’s seventeenth stage victory in the Pyrenees Mountains to the finale on Avenue des Champs-Élysées.

Bringing Saxo Bank fans together to support the team during this year’s Tour de France was an important goal for Saxo Bank in its third season as sponsor of the team. The online bank organised on-site events that let fans and clients experience the race closer than ever before. In Rotterdam, Bruxelles, Avoriaz and Paris, hundreds of guests were given a chance to watch the race as VIPs, meet the riders for autographs and photos and see the mechanics working on the bikes.

Saxo Bank also provided exclusive online coverage on its website, Saxobanktakingthelead.com, including incredible behind-the-scenes looks at Team Saxo Bank’s tactics, training and, of course, the bikes. In addition to the website, Saxo Bank knit the community of cycling enthusiasts and Saxo Bank fans together with real-time race updates and the latest Tour de France developments directly on their computer or mobile phones via Twitter and other social media activities.

Saxo Bank’s Tour de France facts and figures:

– Searches for the Saxo Bank brand on Google doubled over the course of the Tour. – The saxobanktakingthelead.com website had an increase of 459.79% growth in absolute Unique Visitors during the Tour.
– The Saxobank Twitter feed received a record 4,678 followers.

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