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Fed hits pause on rate hikes

The Federal Reserve's decision not to raise rates for the first time in two years should give both consumers and businesses some breathing room.

If you have a home equity line of credit, what the Fed didn't do Tuesday is really good news.

"That's the most positive news. Everybody with a home equity line of credit right now is cheering because their rate did not increase," said Cory Reid, president of Emeryville-based Fountainhead Mortgage and an officer with the California Association of Mortgage Brokers.

"The most immediate impact will be felt by people who have a home equity line of credit. The reason for that is that every time the Fed moves the rate, it immediately impacts the prime rate upon which their home equity lines are based," he said.

The prime rate has more than doubled from 4 percent in June 2004 to 8.25 percent in July.

A Software Hall of Mirrors

Computer users aren't the only victims of Direct Revenue's alleged spyware. The company has tried to inflate the price of advertising it sells to corporate customers, according to interviews with current and former Direct Revenue employees and an internal company e-mail disclosed by New York Attorney General Eliot Spitzer in his suit against Direct Revenue. .

ROUNDUP Barclays beats H1 profit forecasts as BarCap earnings soar

LONDON (AFX) - UK bank Barclays PLC reported a better than expected 37 pct increase in first-half profit, with a strong performance from investment banking unit Barclays Capital outweighing a bad-debt-induced downturn at credit card division Barclaycard. Barclays, the UK's third-biggest bank by market value, said pretax profit for the six months to June 30 came in at 3.673 bln stg, up from 2.690 bln stg in the same period last year, and ahead of the 3.400 bln stg consensus analyst forecast. The improvement was driven by strong growth at Barclays Capital, where profit jumped 66 pct to 1.246 bln stg. The group also reported an improvement at the previously underperforming UK retail bank, currently in the throes of a restructuring exercise, with profits up 12 pct at 612 mln stg. That outweighed a weaker result at Barclaycard, where profit fell 14 pct to 297 mln stg as bad debt charges soared 37 pct to 696 mln stg.

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