| Ping An Insurance Announces 2006 Annual Results
Net profit reached a new high in Group's corporate history Business Editors/Insurance Writers HONG KONG--(BUSINESS WIRE)--April 12, 2007--Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Group", HKEx: 2318; SSE: 601318) announced its annual results for 2006 today. During the year Ping An continued to deliver excellent results, achieved historical breakthroughs and made new progress in various segments of its businesses. The Group's core businesses accomplished rapid growth at rates faster than the industry's average. Net profit for the year reached a new high in the Group's corporate history. Sufficient capital and steady profit growth have created a strong foothold for Ping An to continue its sustainable development. The Group reported substantial growth in 2006. Under International Financial Reporting Standards (IFRS), the Group's net profit was RMB 8,000 million, an increase of 87.6% over 2005.
Bill aims to protect personal data
This bill would make it illegal for a state employee to remove from a state government office documents containing social security numbers, unless the employee's job duties require him to do so. State Representative Marlin Schneider (D-Wisconsin Rapids) drafted the measure after a conscientious state employee took her work home with her, but had the computer stolen, along with the personal information of many lawmakers. Kevin St. John, with the Department of Justice, testifies at a capitol hearing, that his office recognizes that ID theft is a major problem, with about 10-million Americans a year becoming victims, but the DOJ is opposed to the legislation because it could inadvertently impair law enforcement and inhibit state lawyers from doing their jobs. Others testified that this bill is too vague, too limited and is solely geared toward state employees, even though our Social Security numbers are freely and widely used by financial institutions, hospitals and other businesses.
3 Steps to Supercharge Your Retirement Savings
It seems like just yesterday we were ringing in 2007. Now, as March comes to a close, it's a good time to check in on how those New Year's resolutions are going. Okay, so maybe you haven't seen the inside of your gym since January. But hopefully, at least some of your resolutions stuck. If you made retirement savings a priority for 2007, hopefully you've harnessed the hidden fortune inside your paycheck and channeled some of your money toward retirement. If not, there's still time. Here are three simple steps that will get you back on track to get the full potential of your retirement savings. Increase your contributions. It sounds simple, but it's easy to forget: Saving more means a better retirement. Take a look at the options available to you. Are you putting away the most you can? If not, consider bumping up your savings.For 2007, the maximum you can contribute to your 401(k) is $15,500, and the maximum IRA contribution is $4,000.
GE Life confirms name as Tomorrow
GE Life has confirmed it has changed its name to Tomorrow, which it is adopting with immediate effect. The rebranding of GE Life follows the recent acquisition of the equity release provider by Swiss Re.
Kirsty MacPherson, head of communications at GE Life, says: We wanted to change to a name that expressed the importance of the products that we offer and what they represent. We are here to help people make the best possible financial plans for retirement to ensure income in later life, so Tomorrow is the perfect choice. "The acquisition by Swiss Re gave us an exciting opportunity to rename the group to reflect our core business. An new brand identity for Tomorrow has been created by design consultants Kent Lyons, and a series of advertisements using the new branding will start to appear in the trade press soon.
Financial plan passes cost to taxpayers, still lacks significant cuts
Gov. Felix Camacho yesterday finally revealed the last part of his administration's plan for dealing with the government of Guam's financial crisis -- increasing the gross receipts tax by 25 percent, from a 4 percent rate to a 5 percent rate, and borrowing up to $30 million via a line of credit. This follows the announcement of minor cost-cutting initiatives. So to keep the government afloat, and avoid having to furlough as many as 2,200 GovGuam workers, the governor wants to pass the cost directly to the taxpayers. The GRT increase will translate into higher prices and a higher cost of living for everyone on Guam. The further borrowing will put the government even deeper into debt, which will have to be paid by resident taxpayers for years to come. .
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