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Tag Archives: financial

Global stocks edge lower as investors await US jobs report

LONDON — Global stocks edged lower on Friday ahead of a monthly U.S. employment report that will confirm whether the country remains a bright spot in an otherwise languishing world economy. KEEPING SCORE: France’s CAC 40 was down 0.7 percent at 4,231.41 and Germany’s DAX shed 0.6 percent to 9,781.03. Britain’s FTSE 100 lost 0.5 percent to 6,535.81. U.S. shares ...

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S&P gives city 'AA-' long-term debt rating

SOUTHAVEN — For the third year, Standard and Poor has assigned the city of Southaven an “AA-” long term rating. The Commercial Appeal reports the rating service cited the city’s financial standing as stable and positive. In its recent report issued on Nov. 18, Standard & Poor noted Southaven’s strong economy, budgetary performance and liquidity of finances as factors for ...

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IKE TROTTER — Weighing in on reverse mortgages

More and more we see on TV or read in the paper about reverse mortgages and the opportunities available for homeowners to “unlock” the equity in their home. I thought it might be helpful to discuss this unique type of home equity loan and the resulting implications they offer to homeowners, particularly those who are retired and elderly. Created in ...

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Financial firms in competition for hospital trust fund

COLUMBUS — Twelve financial firms have submitted proposals to manage Lowndes County’s $30 million hospital trust fund. The county wants a bigger return on its investment of those funds. Board of Supervisors president Harry Sanders told the Commercial Dispatch that the county hopes the 0.2 percent ($60,000 annually) interest the county has recently earned on certificates of deposit will eventually ...

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Renasant sees quarterly earnings jump

TUPELO — Regional bank Renasant Corp.’s profit rose 26 percent in 2013’s second quarter from the same three months of 2012, as it set aside less for bad loans and increased interest earnings. Renasant said today it posted quarterly profit of $8.02 million, or 32 cents per share, up from $6.35 million or 25 cents per share in 2012’s second ...

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Settlement checks coming, but Hosemann 'disappointed' in SEC

ACROSS MISSISSIPPI — The state securities regulators from Alabama, Kentucky, Mississippi, South Carolina and Tennessee are notifying investors entitled to reimbursement from the recent Morgan Keegan settlement that their states’ fund distribution checks will be mailed Nov. 5. A.B. Data, Ltd., as the fund administrator, will be mailing checks to all investors who filed an approved eligible claim within the ...

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Fitch suspends state's prepaid college tuition program

JACKSON — State Treasurer Lynn Fitch has told lawmakers that she suspended the state’s prepaid college tuition program because it is struggling financially and an audit will show whether it needs to be overhauled or scrapped, as many other states with similar programs have done. Fitch appeared yesterday before the Joint Legislative Budget Committee. Until the audit is completed, Fitch ...

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MDOT awards funds frozen due to mayor's financial problems

SOUTHAVEN — Southaven is getting $850,000 to link the city’s two largest parks with a bike path and walking trail after learning state officials have released the funds that had been frozen because of Mayor Greg Davis’ financial problems. The Commercial Appeal reports aldermen learned yesterday the enhancement grant for the nearly three-mile trail between Central and Snowden Grove parks ...

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Southern AgCredit mailing dividends totaling $6.35M

RIDGELAND — The Southern AgCredit board of directors recently approved a patronage dividend for borrowers based on the financing cooperative’s solid 2011 earnings. Checks are being mailed to customers in mid-February. Southern AgCredit customers will receive a check for their portion of the $6.35 million cash patronage, plus a statement detailing their share of the allocation that is eligible for ...

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Trustmark signs agreement to buy Florida bank

JACKSON — Trustmark Corporation has signed a definitive agreement to acquire Panama City, Fla.-based Bay Bank & Trust Co. Under terms of the definitive agreement, the transaction is valued at $22 million, with $10 million of the consideration to be paid in cash and $12 million to be paid in common stock of Trustmark. The consideration represents approximately 85 percent ...

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