Credit cards used 131 million times in July, record figures show

Aussie credit card debts have increased as the products were used to pay for goods 131 million times in July, one publication has revealed.

Credit cards were used to pay for goods a record 131 million times in July, it has been revealed.

According to the Age, this figure is more than any previous July and is an increase of three per cent compared to last year.

But Aussie credit card debts are also up as people owed $ 47.8 billion in the month, a rise of 6.5 per cent or $ 159 per card in contrast with the same time last year.

Commonwealth Securities economist Savanth Sebastian said there are indications that consumers are starting to spend once again.

He added: “The three rate hikes in March, April and May took a toll on household budgets, but the conservatism is thawing. The Reserve Bank (RBA) needs to allow it to bloom.”

Earlier this month, the RBA maintained the interest rate at 4.5 per cent – it has not upped the level since May – and governor Glenn Stevens predicted that the global economy would probably slow down later this year.

Another sign that Australians are still comes from Eftpos figures after it was revealed that almost $ 13 billion was spent at the terminals in July, although there was a decrease in terms of the money spent per transaction – an average of $ 56.24 in the month, down from $ 58.80.

In addition, there was a 15 per cent growth in the amount of times people used cards at Eftpos machines in supermarkets during July.

However, there is evidence of caution in the housing market as home loans were down by 21 per cent and borrowing for alteration and additions to properties decreased by 19 per cent.

But commercial loans have made a turnaround with a four per cent increase in the year to July following a 17 per cent decrease in the year to the previous July.

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Suning 1.2 Billion Refinancing “lightning” The Additional 2,500 Million Shares

June 22, 2006, Suning Electrical distribution disclosed the results announcement, announcement showed: non-public offering of its refinancing program a great success, non-public offering of 2,500 shares have been seven fund management companies to complete subscription price of 48 yuan, the refinancing rate by 12 billion. Suning Appliance now has reached 360 million shares of the total share capital in order to pre-suspension closing price of 53.87 yuan, the total market value of Suning has reached 19.413 billion yuan.

It is reported that on May 8, “the Issuance of Securities by Listed Companies” for the first day, Suning Appliance to suspend the convening of the Board to consider the motion of the refinancing, and use established channels to raise. The program has been generally optimistic investors, and the May 24 shareholders meeting overwhelmingly approved; June 16, the application is formally approved by China Securities Regulatory Commission; June 20, Suning Appliance 25 million additional shares have been 7 fund management company completed subscription price of 48 yuan. The additional 20 days before the suspension ended Subscription average price was 48.88 yuan, 48 yuan last subscription is the average price of 98.2%. Currently 1.2 billion fund-raising has been fully in place.

Suning Appliance from the issuance of general meeting of shareholders by issuing the end of the motion to issue less than a month, was approved by the Commission from raising funds to place only two days, Suning finally completed a “lightning” additional.

This, Suning Appliance secretaries to directorate, said Ren Jun, mainly due to the intrinsic value of the enterprise Suning have won the approval of investors, particularly large multi-fund companies have praised Su Ning; another reason is that the issue innovative ways. May 8 implementation of the “Issuance of the securities of listed companies” listed company established a system of non-public offering, Suning Appliance and Changjiang BNP Paribas sponsor institutions of the system were positive for the research and exploration, and in the laws and regulations developed under the framework of a set of full compliance with the principle of maximizing shareholder subscription procedures and rules, which not only ensures the interests of investors, but also allow investors to fully understand the Suning refinancing serious attitude problem , as well as the seriousness of the implementation of national policies. Therefore, the non-public offering of Suning Appliance normative been recognized by investors and regulators.

Ren Jun also said that Suning has a smooth implementation of the refinancing can not do without China’s capital market for nearly two years, the ongoing reform and innovation, is the state and the SFC issued a bold reform of the way, just as Suning Appliance provides better opportunities for development.

Industry experts believe that the Suning Appliance 1.2 billion refinancing of funds, the rapid development of Suning Appliance will provide a more comprehensive capital platform, raised funds to use the original direction?? Chain development, logistics centers and information centers project will be adequate funding, the faster and better promote the core competitiveness of Suning Appliance.

[Key words]: Suning Chain Marketplace Comment Large In Small

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Boe A: Dividend 15.9 Billion Refinancing Of Only 066 Million

To the end of 2008, BOE A, the total assets of only 13.9 billion, which means the refinancing of a BOE A total recycling has more than enough. So, this part of the funds “circle” to have gone after the last? Caozhong Ming help to answer: “Basically, the huge loss the past two years all the money will ring to ‘burn’.”

BOE A (000725) is a 2009 A-share listed company private placement cases, the most “stunning” and is also a bonus so far with the “request” does not match the one the most. Such well-known financial commentator Cao Zhongming evaluation BOE A?? Has been the stock market in the “misappropriating” master.

Profit is not a lot of financing

Public information, as of June 30 this year, BOE A dividend has not for many years. Although 2005,2006,2008 loss in performance is a noble reasons, but in 2007 its earnings are still not seen any substantial shareholders of the meaning of feedback. Statistics, BOE A from January 2001 on the market, is now 8 years has sent three times, only the total amount of 66,512,300 yuan.

And the last four years, “stingy” relative, since 2005, BOE A in the A share market has successfully refinanced three times, totaling nearly 15.9 billion. Most recent on June 9 this year, the announcement said, to 2.4 yuan / share private placement price of 5.0 billion shares, the total 12.0 billion refinancing. Before the two were in July 2008 (and fund-raising total of 2.25 billion yuan), and in October 2006 (and fund-raising total of 1.86 billion yuan).

Years, according to BOE A2009 semi-annual report, as at present, the company refinanced a net 15.22 billion yuan, this basis, the total amount and send the total amount of financing is the ratio of 0.004, close to zero, this data at the end of the listed companies in the two cities.

Been misappropriating loss endless It is understood that BOE A recent private placement price of 2.4 yuan / share, than the lowest of the year is even lower than 10%, and if yesterday’s closing price of 4.72 yuan terms, participation of additional persons is a large profit nearly doubled.

However, since the BOE A2008 investors in private placement is not such good luck this year, issuance of A shares in July after the lift, when its shares rose more than a maximum price of 5.47 yuan additional 6%, while If shareholders have a loss will reach nearly 14%.

To the end of 2008, BOE A, the total assets of only 13.9 billion, meaning that its total recycling refinancing a BOE A has more than enough. So, this part of the funds “circle” to have gone after the last? Caozhong Ming help to answer: “Basically, the huge loss the past two years all the money will ring to ‘burn’.”

The future will be refinancing BOE A’s “loss” not only in the participation of additional shareholders, on its own, too. Information, are all of its TFT-three additional

LCD Projects. But the fact, so large-scale industrial upgrading and capacity expansion has not brought any way to improve company performance.

Money from capital markets, BOE A reliable are the promise of the future, which is expected to promise to not receive bank of unknown identity, which is why the industry has repeatedly recognized that the choice of Private Placement fund-raising reasons. Have friends in the stock it said, “At present, international

LCD panel Has been developed to the 10th generation line. A BOE have three generations to recover, do not know how many times the next but also additional, equity financing of the money you get so good? “


BOE seems this way, according to its recent announcement that it will invest in eighth-generation TFT-LCD line. Hai Tong Securities analyst Wang analysis, BOE A likely around 2011, again by way of private placement to raise funds for this project, and for the eighth line, or up to 300 billion construction financing needs, he expects the next the re-financing is likely to more than 12 billion shares of the scale.

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