In the past few years, consumers disillusioned with tight-fisted banks have jumped on the peer-to-peer lending bandwagon.
When the Great Recession hit, banks suffered big losses as borrowers defaulted on loans they had taken out during the economy’s long upturn. In response, lenders have drastically tightened their lending requirements. As a result, many borrowers with anything less than stellar credit now can’t qualify for traditional bank loans. Continue reading “Peer-to-peer lending sees exponential growth”→
Manufacturing giant Caterpillar Inc. is trying to dig out as headwinds from slowing global markets and falling oil prices pile up. The company is forecasting flat sales for the coming year.
Shares of the Peoria-based company have been under pressure since mid-July when key overseas markets reported slower sales. At $101.30 Wednesday morning, Caterpillar stock is down 9 percent from its 52-week high of $111.4 set in July.
Cisco Systems Inc., reported a fiscal first quarter profit decline in line with expectations and reiterated a flat outlook, as emerging markets — which earlier fueled the Internet-equipment maker’s growth — continue to soften.
For the quarter ended on October 25, net income of the router maker declined 8.4 percent to $1.83 billion, or 35 cents per diluted share, from $2.00 billion, or 37 cents per diluted share in the same quarter last year.
Parking in the city is never easy, but SpotHero, a Chicago-based technology company, has found a way to help commuters. The start-up’s mobile apps find discounted parking spots in real time and allow users to pay online or in the app. The company, which launched in 2011 with three co-founders, now has 30 employees. SpotHero has just added four new cities to its roster of seven.
Shares of Caterpillar Inc. jumped after the manufacturing giant, helped by a surge in North American sales that more than offset a slowdown in international market, reported third-quarter earnings that dramatically surpassed Wall Street expectations.
Hedge funds finally regained a shred of dignity in September: after a long stretch of frequently underperforming the broad stock market, the investment funds – which charge their clients hefty management fees – were able to do a bit better than the Standard & Poor 500 Index.
A standard yardstick of the industry’s performance known as the Hedge Fund Weighted Composite Index last month showed a narrow decline of 0.4 percent, Chicago-based fund tracker Hedge Fund Research reported this week. That’s not great, but it was a better result than the 1.5 percent drop the S&P 500 showed in September.