| GB&T Bancshares Reports Third Quarter Results
GAINESVILLE, Ga., Nov. 2, 2007 (PRIME NEWSWIRE) -- GB&T Bancshares, Inc. (NasdaqGS:GBTB - News), a multi-bank holding company operating seven community banks in markets surrounding metropolitan Atlanta, reported a third quarter 2007 net loss of $6.3 million, or $0.44 per diluted share, compared with net income for the 2006 third quarter of $4.2 million, or $0.30 per diluted share, and net income of $3.1 million, or $0.22 per diluted share for the second quarter of 2007. For the first nine months of 2007, GB&T Bancshares reported net income of $515,000, or $0.04 per diluted share, compared with $11.4 million, or $0.83 per diluted share, for the comparable prior-year period. Results reflect a slowdown of loan growth, as well as continuing deterioration in credit quality, which has affected virtually all aspects of GB&T's performance.
Weak Treasury Yields to Help and Hinder
NEW YORK -- A plunge in a closely watched Treasury yield Wednesday spells relief for some borrowers who want to buy homes and big-ticket items like cars, but is a threat to retirement portfolios and the broader economy. A vigorous Treasury rally sent the benchmark yield on the 10-year Treasury note below 4 percent early Wednesday for the first time since September, 2005. Heavy losses on global stock exchanges, alongside escalating credit fears and a surge in oil prices above the $99 a barrel level, caused nervous investors to clamor for Treasurys, which carry a government guarantee. .
Eskom load-shedding schedule
Eskom is load shedding at present. They have appealed to all consumers to use electricity sparingly and use electrical equipment, such as air-conditioning, geysers and swimming pool pumps, as efficiently as possible in order to reduce the demand of electricity and to assist in reducing load shedding. Eskom has also requested that consumers switch their geysers off in the morning. The following load shedding schedule is applicable to the current situation. This schedule will be changed as updates become available. National Contact Centre: 0860037566 or 08600ESKOM Eskom Central Region Eskom Central Region & City Power possible areas to be affected by load shedding for Stage 1 Brown Stage 1 06:00 - 08:30 Eskom central region supply areas Braamfischer, Dobsonville Ext, DRD, Doornkop, Klipfontein, Leeufontein, Mimosa, Schweizer Reneke Munic, Lonehill, Paulshof, Magalies, Petervale, Rivonia, Riries, Eldoret, Diepsloot, Sebokeng Zone 7,8,10,11&12, Dedeur, Ironside, Walkerville, Delareyville, Dobsonville Ext3, 4, 5 &7, Jabulani, Zola.
Pune bank customer to get compensated
PUNE: A consumer disputes redressal forum here has ordered a private bank to pay a compensation of Rs one lakh to a woman whose car was seized by its recovery agents for an alleged default in repayment of Rs 4 lakh loan.
The Additional Judge of the Forum S J Kshirsagar who delivered the order, on Wednesday said that the bank had been asked to pay the compensation to Renu Bhandwalkar within a period of 30 days.
Passing its order on Bhandwalkar's complaint, filed in September last year, the forum said the bank should pay the amount as a compensation for the "mental harassment" caused to the borrower who had claimed that ICICI bank did not follow her instructions regarding recovery of loan installments from her savings account even though she had given post-dated cheques and had substantial deposits in the bank.
British Telecom sees opportunity in emerging global champions
The competitive advantage of UK-based telecom company British Telecom (BT), a daughter company of BT Group, is in tailoring complex transnational business solutions for an individual client's needs, said Pawel Karlowski, appointed in August 2007 as BT's CEO for Central and Eastern Europe. .
Minutes and projections from Fed meeting
Following are the minutes from the Federal Reserve meeting, held Oct. 31. By unanimous vote, the Federal Open Market Committee selected D. Nathan Sheets to serve as economist until the selection of his successor at the first regularly scheduled meeting of the Committee in 2008. The Manager of the System Open Market Account reported on recent developments in foreign exchange markets. There were no open market operations in foreign currencies for the system's account in the period since the previous meeting. The manager also reported on developments in domestic financial markets and on system open market operations in government securities and federal agency obligations during the period since the previous meeting. By unanimous vote, the committee ratified these transactions.
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