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	<title>Washington Echo</title>
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	<link>http://www.washingtonecho.com</link>
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		<title>Green Job Bank Passes 10,000 Job Postings</title>
		<link>http://www.washingtonecho.com/green-job-bank-passes-10000-job-postings/010932/</link>
		<comments>http://www.washingtonecho.com/green-job-bank-passes-10000-job-postings/010932/#comments</comments>
		<pubDate>Wed, 08 Jun 2011 21:17:37 +0000</pubDate>
		<dc:creator>Shirley Town</dc:creator>
				<category><![CDATA[Energy]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=932</guid>
		<description><![CDATA[The green energy sector is one of the real growth areas in the developed world right now, showing that there is definitely some synergy between an environmental policy and economic recovery. To demonstrate just how much traction the green energy sector is getting in the economy, the environmental job search engine The Green Job Bank [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/green-energy.jpg"><img class="aligncenter size-full wp-image-933" title="green energy" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/green-energy.jpg" alt="green energy Green Job Bank Passes 10,000 Job Postings " width="302" height="357" /></a>The green energy sector is one of the real growth areas in the developed world right now, showing that there is definitely some synergy between an environmental policy and economic recovery. To demonstrate just how much traction the green energy sector is getting in the economy, the environmental job search engine The Green Job Bank has passed 10,000 green job listings in the past two weeks.</p>
<p style="text-align: justify;">For some time now, there has been the option for people who are actively interested in environmental protection to look for “green” jobs with employers whose raison d&#8217;etre is the environment and its preservation. However, as time goes by, this sector has become mainstream, with environmental regulations causing most companies to have to consider the environment.</p>
<p style="text-align: justify;">The Green Job Bank crawls the internet finding postings for green jobs and places them on its job boards. Anyone interested in working in the green sector can then log on and search for the perfect green job. At one time, this may have been a niche that attracted only the attention of those who were specifically interested in working in green energy. Now, with jobs at a premium, it is becoming a focus for people who simply want to find work.</p>
<p style="text-align: justify;">As one of the few rapidly growing economic sectors, green energy may well be one of the keys to an employment recovery not just in the United States, but also worldwide. Governmental agencies are a good place to look, as they are the least distanced from the regulations, but an increasing number of start-up companies are environmentally focused and looking to expand.</p>
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		<title>Portuguese Government&#8217;s Economic Record Blamed For Election Defeat</title>
		<link>http://www.washingtonecho.com/portuguese-governments-economic-record-blamed-for-election-defeat/010885/</link>
		<comments>http://www.washingtonecho.com/portuguese-governments-economic-record-blamed-for-election-defeat/010885/#comments</comments>
		<pubDate>Mon, 06 Jun 2011 17:51:03 +0000</pubDate>
		<dc:creator>Gary Culbertson</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[jose socrates]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=885</guid>
		<description><![CDATA[Portugal&#8217;s Socialist party have become the latest European government to be toppled at a general election as a result of the economic hardship seen around the world. After the Irish election earlier this year, and the British government last May, Jose Socrates&#8217; governing party were defeated heavily by their centre-right rivals the Social Democrats; the [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/Jose-Socrates.jpg"><img class="aligncenter size-full wp-image-928" title="Jose Socrates" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/Jose-Socrates.jpg" alt="Jose Socrates Portuguese Governments Economic Record Blamed For Election Defeat" width="281" height="279" /></a>Portugal&#8217;s Socialist party have become the latest European government to be toppled at a general election as a result of the economic hardship seen around the world. After the Irish election earlier this year, and the British government last May, Jose Socrates&#8217; governing party were defeated heavily by their centre-right rivals the Social Democrats; the new government&#8217;s first promise is that they will honor the EU&#8217;s bailout package.</p>
<p style="text-align: justify;">Much like the Irish Fianna Fail administration which was unseated early this year, the Portuguese Socialist administration had to receive a bailout package from the EU simply to keep operating as a functional economy. In order to live up to the terms contained in that package, the party had to implement an austerity budget, but after a fourth attempt to push it through Parliament was defeated, an election was called.</p>
<p style="text-align: justify;">The Social Democrats, led by Pedro Passos Coelho, are now faced with the challenge of turning around an economy expected to contract by 2% this year, and to do so without losing the support of the electorate which has given them a broad mandate to govern. As in Ireland, the population has decided that a fiscally conservative party is best placed to do this; but if employment figures do not improve early on, they will find themselves under pressure.</p>
<p style="text-align: justify;">The next major European countries to hold Parliamentary elections are France and Spain, both of which will go to the polls in 2012. Spain, currently in economic crisis, is expected to unseat the Socialist government unless economic improvement happens soon.</p>
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		<title>Government Layoffs Hit Record Levels</title>
		<link>http://www.washingtonecho.com/government-layoffs-hit-record-levels/010920/</link>
		<comments>http://www.washingtonecho.com/government-layoffs-hit-record-levels/010920/#comments</comments>
		<pubDate>Mon, 06 Jun 2011 08:19:11 +0000</pubDate>
		<dc:creator>Becky Mccormack</dc:creator>
				<category><![CDATA[General]]></category>
		<category><![CDATA[general]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[unemployment]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=920</guid>
		<description><![CDATA[State and local governments cannot help the unemployment problem. The cash-strapped sector has even laid off a record breaking number of people since the start of the fiscal year on July 1. State and local governments are expected to layoff workers from up to 110,000 jobs this third quarter. This is the first time that [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/Government-Layoffs.jpg"><img class="aligncenter size-full wp-image-924" title="Government Layoffs" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/Government-Layoffs.jpg" alt="Government Layoffs Government Layoffs Hit Record Levels" width="260" height="190" /></a>State and local governments cannot help the unemployment problem. The cash-strapped sector has even laid off a record breaking number of people since the start of the fiscal year on July 1. State and local governments are expected to layoff workers from up to 110,000 jobs this third quarter. This is the first time that the layoff figure has gone to triple digits, according to a report from the IHS Global Insight.</p>
<p style="text-align: justify;">The job market is going on a downward path and there is no positive outlook about the situation, according to Greg Daco, an IHS economist. The employment conditions in the state and local governments have been pulling the economy down this year with an average of 23,000 lost every month for the past three months. The private sector, on the other hand, has created about 180,000 jobs every month in the same period.</p>
<p style="text-align: justify;">In May, public employment lost 29,000 jobs while businesses created new 83,000 jobs. This is according to the report from the Labor Department on Friday. The government sector has lost 510,000 jobs since August 2008. Despite the increase in tax revenue, the government still has multi-billion-dollar budget deficits. The job cuts were minimized due to the Federal stimulus funds, which are expected to run out on June 30.</p>
<p style="text-align: justify;">Now, the states are planning to cut on education, local governments and social services and do payroll downsizing in the next fiscal year. However, the local governments are about to lose state aid and feel the effects of the mortgage meltdown. Local governments will need to reduce their payrolls and slash the budget for some programs and services. The director for the National League of Cities’ finance and economic development program said that the cities do not have enough options right now.</p>
<p style="text-align: justify;">It is expected that teachers and other school staff will face the hundreds of thousands of layoffs this summer. Usually, the state and local governments would recover slower form a recession. The private business sector though is expected to recover faster and start hiring more. However, this is not the case in the US because the private sector is still not hiring as many people as expected and the government is still making painful cuts.</p>
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		<title>Consumer Pain Slows Down Job Growth</title>
		<link>http://www.washingtonecho.com/consumer-pain-slows-down-job-growth/010912/</link>
		<comments>http://www.washingtonecho.com/consumer-pain-slows-down-job-growth/010912/#comments</comments>
		<pubDate>Sun, 05 Jun 2011 16:19:26 +0000</pubDate>
		<dc:creator>August Jiron</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[economy]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=912</guid>
		<description><![CDATA[A disappointing jobs report was not what Wall Street expected on Friday. However, this is also somehow expected given how consumers are also suffering these days. The consumers are now feeling the effect of higher food prices and $4 gas with only little increase for their wages and the declining values of homes, which are [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/Kathy-Bostjancic-us-consumer.jpg"><img class="aligncenter size-full wp-image-917" title="Kathy Bostjancic us consumer" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/Kathy-Bostjancic-us-consumer.jpg" alt="Kathy Bostjancic us consumer Consumer Pain Slows Down Job Growth" width="374" height="249" /></a>A disappointing jobs report was not what Wall Street expected on Friday. However, this is also somehow expected given how consumers are also suffering these days. The consumers are now feeling the effect of higher food prices and $4 gas with only little increase for their wages and the declining values of homes, which are at their lowest point in nine years.</p>
<p style="text-align: justify;">The overall economy is has consumers accounting for 70%, according the director of The Conference’s Board’s macroeconomic analysis director, Kathy Bostjancic. The companies will not have any reason to hire more employees if the consumer keeps getting reluctant about buying. Before the jobs report for May was released on Friday, economists were only expecting a slightly weaker result due to their belief that the jobs market was only temporarily distorted after Japan’s earthquake, tornadoes in the South and the remaining effects of the increase in energy prices.</p>
<p style="text-align: justify;">Moreover, the balance sheets reported by companies and the declines in the stock market were only minor disruptions. However, Wall Street seems to have missed the real consumer pains on Main Street. According to the compiled report from the College Board this week, the Consumer Confidence Index was at its lowest point since October. This only means that consumers still see instability in the job market, inflation and their income.</p>
<p style="text-align: justify;">Bostjancic also added that the economic situation right now only makes it tougher for the consumers. Though the decline is not that bad yet, the country is still in a painfully slow recovery. It is no wonder why the jobs report showed weak jobs growth, with the mere addition of 54,000 jobs, which is really a significant decline from the 200,000 additional jobs from the last three months. When the consumers doubt the economy’s condition, consumer spending is usually negatively affected. This results to estimated lower demands further causing lower job employment and even job cuts.</p>
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		<title>Slowdown Recorded In US Employment Growth</title>
		<link>http://www.washingtonecho.com/slowdown-recorded-in-us-employment-growth/010911/</link>
		<comments>http://www.washingtonecho.com/slowdown-recorded-in-us-employment-growth/010911/#comments</comments>
		<pubDate>Sun, 05 Jun 2011 16:19:19 +0000</pubDate>
		<dc:creator>Elizabeth Flores</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[us economy]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=911</guid>
		<description><![CDATA[The employment recovery in the United States hit a period of slow growth in May, with the number of net new jobs coming in at just 54,000 over the course of the month. This total is marked against the forecast of 150,000 new jobs for May, and a recorded increase of 232,000 for the month [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/us-employment-rate.jpg"><img class="aligncenter size-full wp-image-913" title="unemployment" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/us-employment-rate.jpg" alt="us employment rate Slowdown Recorded In US Employment Growth" width="369" height="276" /></a>The employment recovery in the United States hit a period of slow growth in May, with the number of net new jobs coming in at just 54,000 over the course of the month. This total is marked against the forecast of 150,000 new jobs for May, and a recorded increase of 232,000 for the month of April. Despite an eighth consecutive month of growth in the job market, the figures are not positive for the economy.</p>
<p style="text-align: justify;">While the growth in the job market has not stopped completely nor gone into reverse, it represents a disquieting report for President Barack Obama, who seems aware of the disappointing nature of the figures. At a public appearance on the day the figures were released, the President expressed his awareness that although the economy is back to growth, some tough times still remain.</p>
<p style="text-align: justify;">The truth of the matter is that no recovery goes absolutely smoothly, and the challenge faced by the US economy at present is to create a scenario where the positive news stories vastly outnumber the negative ones. In acknowledging the slowdown in the jobs recovery, President Obama pointed to the ongoing instability in the Middle East, the natural disasters in the Pacific Rim and the continuing problems caused by high fuel prices.</p>
<p style="text-align: justify;">The poor job numbers follow some cautiously optimistic news in other sectors of the economy, including the housing market. It speaks of a challenge of balancing the numbers to ensure that the recovery is seen in all sectors – a challenge which may yet take years rather than months to be truly overcome.</p>
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		<title>Indian Catholic Church Expresses Opposition To Further Mining</title>
		<link>http://www.washingtonecho.com/indian-catholic-church-expresses-opposition-to-further-mining/010903/</link>
		<comments>http://www.washingtonecho.com/indian-catholic-church-expresses-opposition-to-further-mining/010903/#comments</comments>
		<pubDate>Sat, 04 Jun 2011 10:06:17 +0000</pubDate>
		<dc:creator>Gary Culbertson</dc:creator>
				<category><![CDATA[Mining]]></category>
		<category><![CDATA[catholic church in india]]></category>
		<category><![CDATA[goa]]></category>
		<category><![CDATA[mining]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=903</guid>
		<description><![CDATA[The social arm of the Catholic Church in India has expressed its concerns that the level of mining taking place in Goa may be a threat to the ecologically-vulnerable Western Ghats area, and that the government&#8217;s policy of mining, deforestation and eco-tourism is putting a strain on the environment of Goa. It is felt that [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/goa-mining.jpg"><img class="aligncenter size-full wp-image-908" title="goa mining" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/goa-mining.jpg" alt="goa mining Indian Catholic Church Expresses Opposition To Further Mining" width="248" height="178" /></a>The social arm of the Catholic Church in India has expressed its concerns that the level of mining taking place in Goa may be a threat to the ecologically-vulnerable Western Ghats area, and that the government&#8217;s policy of mining, deforestation and eco-tourism is putting a strain on the environment of Goa. It is felt that this level of strain at the current time may have lasting consequences for the region.</p>
<p style="text-align: justify;">The forests of the Western Ghats are considered to be some of the most picturesque and productive in all of India and a huge contributor to the region&#8217;s biodiversity. Mining for iron and manganese ore, two resources that are significant to India&#8217;s economy, is believed to be putting a major strain on this sector of the environment.</p>
<p style="text-align: justify;">There are currently approximately one hundred mining leases held legally in all of Goa, and on a map of the region the majority of these leases can be seen as rings around three of the region&#8217;s significant wildlife sanctuaries. The executive director of the Council of Social Justice and Peace (CSJP) argues that a rethink of the Goa government&#8217;s policy is essential if these sanctuaries are to remain intact.</p>
<p style="text-align: justify;">The line being taken by the Council is notable for its stridency; how the Goan authorities will respond to it remains to be seen. However, the fact that a need to act has been seen in such sharp relief must be taken as a demonstration of deeply-held feeling among not just the CSJP, but the millions of people in India who share their stance on environmental issues.</p>
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		<title>Leading University Of Texas Professors To Contribute To Petroleum Training Guide</title>
		<link>http://www.washingtonecho.com/leading-university-of-texas-professors-to-contribute-to-petroleum-training-guide/010902/</link>
		<comments>http://www.washingtonecho.com/leading-university-of-texas-professors-to-contribute-to-petroleum-training-guide/010902/#comments</comments>
		<pubDate>Fri, 03 Jun 2011 16:06:14 +0000</pubDate>
		<dc:creator>Kimberly Brown</dc:creator>
				<category><![CDATA[Energy]]></category>
		<category><![CDATA[petex]]></category>
		<category><![CDATA[petroleum]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=902</guid>
		<description><![CDATA[The Petroleum Extension Service (PETEX) has announced the signing of three top professors from the University of Texas as contributors to their best selling training publication “Fundamentals of Petroleum”. A guide that has sold more than 75,000 copies since its initial publication, “Fundamentals of Petroleum” is one of the industry&#8217;s go-to guides for workers in [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/Petroleum-Extension-Service-petex.jpg"><img class="aligncenter size-full wp-image-904" title="Petroleum Extension Service petex" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/Petroleum-Extension-Service-petex.jpg" alt="Petroleum Extension Service petex Leading University Of Texas Professors To Contribute To Petroleum Training Guide" width="160" height="160" /></a>The Petroleum Extension Service (PETEX) has announced the signing of three top professors from the University of Texas as contributors to their best selling training publication “Fundamentals of Petroleum”. A guide that has sold more than 75,000 copies since its initial publication, “Fundamentals of Petroleum” is one of the industry&#8217;s go-to guides for workers in the various sectors of oil and gas production.</p>
<p style="text-align: justify;">PETEX was founded in 1944 and in the sixty-plus years since has established itself as the industry&#8217;s foremost training provider. Its guides have been used for people on all sides of the industry – from the ones getting it out of the ground to the ones selling it to the public and commerce. By securing the collaboration of academic minds from one of the US&#8217; key areas in oil provision, they have underlined an intention to further establish that reputation.</p>
<p style="text-align: justify;">The professors concerned – Dr. Paul Brommer, Dr. Chris Zahm and Dr. Michael Webber – have between them a great deal of experience in the field, with Dr. Brommer having already contributed to other publications handled by PETEX, Dr. Zahm having held a key position at ConocoPhillips Subsurface Technology, and Dr. Webber having had findings and opinions published by outlets as diverse as the Wall Street Journal, NPR and the BBC.</p>
<p style="text-align: justify;">Along with these academic minds, PETEX has already lined up industry experts to ensure that the information contained within the latest publication of “Fundamentals of Petroleum” is as cutting-edge and as informative as have been the previous editions.</p>
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		<title>Moody’s Gives Low Rates to Greece</title>
		<link>http://www.washingtonecho.com/moody%e2%80%99s-gives-low-rates-to-greece/010887/</link>
		<comments>http://www.washingtonecho.com/moody%e2%80%99s-gives-low-rates-to-greece/010887/#comments</comments>
		<pubDate>Thu, 02 Jun 2011 20:39:44 +0000</pubDate>
		<dc:creator>Shirley Town</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=887</guid>
		<description><![CDATA[The comedy at the cost of the indebted Greece has an additional twist Wednesday. Moody’s ratings for Greece placed the country at 50-50 odds to be at a default largely due to the country’s difficult finances and the unstable European politics. The rating for Greece is Caa1, which is the country’s third-lowest rating, and Moody’s [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/greece1.jpg"><img class="aligncenter size-full wp-image-899" title="greece" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/greece1.jpg" alt="greece1 Moody’s Gives Low Rates to Greece" width="334" height="262" /></a>The comedy at the cost of the indebted Greece has an additional twist Wednesday. Moody’s ratings for Greece placed the country at 50-50 odds to be at a default largely due to the country’s difficult finances and the unstable European politics.</p>
<p style="text-align: justify;">The rating for Greece is Caa1, which is the country’s third-lowest rating, and Moody’s continue to have a negative outlook about the country, which might give way to another downgrade soon. The reason for all these negative rating is the country’s debt burden, which seems to be getting worse as the economy continues to fall and the borrowings rise. Moreover, the rating agency also attributes the country’s negative rating to its uncertain growth prospects.</p>
<p style="text-align: justify;">This new rating only recognizes the possibility that Greece might not be capable of paying its bills unless they do something about the 300 billion-plus euros worth of IOUs that the government has issued. A possible solution to this debt burden can only be relieved if the country’s investors will help.</p>
<p style="text-align: justify;">Greek bonds are recently trading at 25% yields, an effect of the debt situation in Greece. The bailout package started last year aimed to help Greece to join the market again but this might still be costly. There are problems about where to get the money, when Greece remains to have a budget deficit despite taking austerity measures to help reduce government spending.</p>
<p style="text-align: justify;">This is also the reason why Moody’s and other agencies have always warned about the necessity of doing debt restructuring. Moody’s already gave a low rating for Greece in March and they also warned another downgrade. Moody’s said that debt restructuring for the country is inevitable. If the government defaults, it can destabilize them even more. Moreover, the European market is still hard to predict. It is also harder to control.</p>
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		<title>New Hat In The Ring As Buzport Looks To Impact VoIP Market</title>
		<link>http://www.washingtonecho.com/new-hat-in-the-ring-as-buzport-looks-to-impact-voip-market/010892/</link>
		<comments>http://www.washingtonecho.com/new-hat-in-the-ring-as-buzport-looks-to-impact-voip-market/010892/#comments</comments>
		<pubDate>Thu, 02 Jun 2011 15:45:15 +0000</pubDate>
		<dc:creator>Elizabeth Flores</dc:creator>
				<category><![CDATA[Technology]]></category>
		<category><![CDATA[buzport]]></category>
		<category><![CDATA[technology]]></category>
		<category><![CDATA[voip]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=892</guid>
		<description><![CDATA[There is no question that the big communications breakthrough of the early part of the decade is VoIP calling. If you have the technological knowhow and the business smarts to get into the market, the opportunities for growth are exponential right now. Step forward Buzport, the latest up and coming VoIP provision service, and one [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/Buzport.jpg"><img class="aligncenter size-full wp-image-893" title="Buzport" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/Buzport.jpg" alt="Buzport New Hat In The Ring As Buzport Looks To Impact VoIP Market" width="279" height="163" /></a>There is no question that the big communications breakthrough of the early part of the decade is VoIP calling. If you have the technological knowhow and the business smarts to get into the market, the opportunities for growth are exponential right now. Step forward Buzport, the latest up and coming VoIP provision service, and one which brings a new slant to the market which may just make it one to watch in years to come.</p>
<p style="text-align: justify;">Buzport is an international calling service which has developed the technology to allow users to talk to each other no matter where the call is coming from. The big deal here is that the cost of the call will be merely as much as it takes to make a call between the internet and the local network of the person making the call. Whether you are calling from a PC, a cell phone or a landline, you can call anyone, anywhere, for a local calling cost.</p>
<p style="text-align: justify;">As people look for ways to cut costs, Buzport claim that they will present the customer with a unique opportunity to make any call from any starting point without having to worry about costs. For both business and residential customers, the opportunity to make long distance calls for short distance prices means the chance to cut phone bills to shreds – aiding their profit margin or their household budget immeasurably.</p>
<p style="text-align: justify;">One very exciting aspect of the Buzport experience is that customers will be able to make calls from PC to PC absolutely free. As well as initiating calls from systems like Skype and MSN, this means that the web-savvy caller can look forward to huge savings which could make a big difference to their financial outlook.</p>
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		<title>UK Loan Brokers On Notice Over Fraudulent Loan Arrangement Fees</title>
		<link>http://www.washingtonecho.com/uk-loan-brokers-on-notice-over-fraudulent-loan-arrangement-fees/010886/</link>
		<comments>http://www.washingtonecho.com/uk-loan-brokers-on-notice-over-fraudulent-loan-arrangement-fees/010886/#comments</comments>
		<pubDate>Wed, 01 Jun 2011 15:39:42 +0000</pubDate>
		<dc:creator>August Jiron</dc:creator>
				<category><![CDATA[Financial Services]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[financial]]></category>
		<category><![CDATA[loan]]></category>
		<category><![CDATA[uk]]></category>

		<guid isPermaLink="false">http://www.washingtonecho.com/?p=886</guid>
		<description><![CDATA[Dishonest loan brokers in the UK have been placed on notice by the Office of Fair Trading that they will be closed down if they continue the practice of demanding a fee up front for loans they never intend to arrange. This is intended to put a stop to a practice that has had consumer [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.washingtonecho.com/wp-content/uploads/2011/06/office_of_fair_trading.jpg"><img class="aligncenter size-full wp-image-889" title="office_of_fair_trading" src="http://www.washingtonecho.com/wp-content/uploads/2011/06/office_of_fair_trading.jpg" alt="office of fair trading UK Loan Brokers On Notice Over Fraudulent Loan Arrangement Fees" width="290" height="246" /></a>Dishonest loan brokers in the UK have been placed on notice by the Office of Fair Trading that they will be closed down if they continue the practice of demanding a fee up front for loans they never intend to arrange. This is intended to put a stop to a practice that has had consumer groups up in arms over recent years due to the targeting of vulnerable borrowers by unscrupulous loan brokers.</p>
<p style="text-align: justify;">The practice usually takes the following form: a potential customer is approached via text message or phone call by a company claiming that they will loan the customer an amount of money, and inviting the customer to call a number to arrange the loan. The company goes through an application with the customer and at the end of the call, informs them that a loan can be arranged.</p>
<p style="text-align: justify;">Having told the customer this “good news”, the representative of the loan broker will then explain that the customer simply needs to pay an amount – usually £50 – in order to arrange the loan, which on payment of the fee will be released into the customer&#8217;s bank account. It is only after paying the arrangement fee that the customer is told that they will have to wait for the broker to “arrange” the loan with a suitable lender.</p>
<p style="text-align: justify;">It is after conducting an investigation into the practices of such companies that the Office of Fair Trading has announced that any firms following the above practice will be forced to repay arrangement fees for loans they fail to arrange, and companies found in repeated breach of the new regulations will be closed down.</p>
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