Money Matters - Simplified


US search for aliens hit by cash crunch

The SETI institute, which has spent the last 50 years searching for the radio signals from aliens, is facing a cash crunch. The institute has been working to find electromagnetic transmissions from intelligent life forms from other planets.

Banks fail to pass on business loan funds

Brussels -- Billions of dollars in funding intended to help small businesses in Europe were held up by banks, a watchdog group said Wednesday.

European Union finance ministers approved the $20 billion aid for small businesses as credit began to dry up in 2008, the EUobserver reported.
But a watchdog group, Bankwatch, based in the Czech Republic, said the European Investment Bank has only handed out 74 percent of the funds to commercial banks and that only 69 percent of what was disbursed was distributed through small business loans.

Commercial banks, the figures indicate, held onto half of the $20 billion funds that targeted small businesses.

How to Make Money Like a Bailed-Out Bank

In the aftermath of the financial crisis in 2008, big financial institutions have turned out to be the biggest winners from the government's responses to the mortgage meltdown. But savvy investors are discovering ways to reap their own profits from the government's policies, even in areas that few investors truly understand.

Stem cell financing continues for now, scientists feel future hazy

Though temporary, but a federal appeals court has on Thursday approved financing stem cell research, till it considered the last month’s order that banned funding the research.

Much stimulus money remains unspent

Washington -- Billions of dollars in stimulus funding remains unspent and Americans are wondering why, a report says.

Some cities hit hardest by recession-caused unemployment have hardly touched millions of dollars in stimulus funds, The Washington Post said Saturday.

Detroit, with 14 percent unemployment, had spent just 1 percent of its nearly $9 million in stimulus funds by June 30, and Phoenix has spent even less of its $15 million, the report said.

At the end of July, almost 18 months after the stimulus was approved, more than half of $275 billion for infrastructure improvements and healthcare remains unspent, the Post said.

GM pledges 1.9 billion euros to restructure Opel, Vauxhall

In a move to turnaround its struggling Opel and Vauxhall units, General Motors (GM) said Tuesday that it would triple the funding in these units.

5 Ways to Fund Your Business

Every business needs funding depending upon the type of products, services, manpower etc. But it is important for every business to know how to procure funds.

China releases $19B from stimulus package

Beijing -- The Chinese government said it released $19 billion in new funding from the $570 billion stimulus package passed in November.

The National Development and Reform Commission didn't reveal where the funds would be spent but newspaper reports said the funds would go to low-income housing, pubic infrastructure projects, health and education and environmental projects, Xinhua reported Tuesday.

China spent about $14 billion from the stimulus bill in the fourth quarter.

Economic growth fell to 6.8 percent in the final quarter of 2008. For the year, economic growth in China slowed to 9 percent, Xinhua reported.

Copyright 2009 by United Press International.