Fed balance sheet shrinks on less mortgage debt

(Reuters) - The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.

The fall in holdings of agency debt and mortgage-backed bonds came as the Fed this week reinstated its program of purchasing Treasuries in a bid to lower long-term interest rates and support the economic recovery, which has shown signs of weakening.

The balance sheet -- a broad gauge of Fed lending to the financial system -- fell to $2.297 trillion in the week ended Aug 18 from $2.310 trillion the previous week. Read more http://www.reuters.com/article/idUSTRE67I5B520100819

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China Recycling Energy Corporation Reports Record Second Quarter 2010 Results

Revenues Increase 102%, Fully Diluted EPS up 43%

Company Enters Biomass Renewable Energy Market with Multi Million Dollar Agreement

XI'AN, China, Aug. 17 /PRNewswire-Asia-FirstCall/ -- China Recycling Energy Corp. (Nasdaq: CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution provider in China, today announced its second quarter 2010 financial results.

Highlights:

    For the quarter ended June 30, 2010

    -- Revenues grew 102% to $22.54 million for the quarter ended June 30,
       2010 from $11.14 million for the quarter ended June 30, 2009.
    -- Income from operations grew 140% to $9.06 million for the quarter ended
       June 30, 2010 from $3.83 million for the quarter ended June 30, 2009.
    -- Net income grew to $5.04 million for the quarter ended June 30, 2010
       from $3.23 million for the quarter ended June 30, 2009.
    -- Fully diluted earning per share ("EPS") of $0.10 for the quarter ended
       June 30, 2010 compared to $0.07 for the quarter ended June 30, 2009.
    -- On an adjusted Non-GAAP basis, as defined below, the Company reported
       Non-GAAP net income of $7.42 million, or non-GAAP fully diluted EPS of
       $0.15 for the quarter ended June 30, 2010, compared to $3.44 million,
       or fully diluted EPS of $0.08, for the same period in 2009. 

Source: http://www.prnewswire.com/news-releases/china-recycling-energy-corporation-reports-record-second-quarter-2010-results-100872934.html

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Read Credit Card Correspondence And Save

Before 2010, credit card companies could raise your interest rate on existing balances. If you have multiple interest rates on one credit card, likely because of a balance transfer, your lowest rate balance would be paid off first. You could be charged interest on a balance this month for an amount you paid off last month. Your interest rate could be raised based on your overall credit history, even if you have history of paying on time on your card.

While all of these practices were reversed in 2010, there's a caveat on certain regulations - banks can make changes to your credit card agreement on future purchases if you are notified in writing. If you never read credit correspondence, it's time to start. What's contained could cost you money in interest, late fees or a letter can indicate a new annual fee that was never charged before. Read more: http://sg.finance.yahoo.com/news/Read-Credit-Card-investopedia-373177205.html?x=0&.v=1

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$380,000 raised for Society

ABOUT 3,000 people, led by Senior Minister and Coordinating Minister for National Security S. Jayakumar, attended a walk and carnival at West Coast Park on Sunday to raise funds for the Singapore Children's Society.
About $380,000 was raised through the sale of carnival tickets, donations from individuals and organisations like NTUC Income and pledge cards.

The funds will go towards paying for the society's programmes, which protect and nurture abused and neglected children. The charity reaches out to 66,000 children and their family members each year through nine service centres. Read more here: http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_560638.html
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