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Fake gold bars turn up in Manhattan, NY
WNYW-TV    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In jewelry stores on 47th Street and Fifth Avenue in Manhattan, N.Y., the important trust between merchants has been violated. A 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit. The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce. More
Related story:  Is tungsten carbide magnetic? (Wiki Answers)

Pawnbrokers report increase in loans but less cash for gold
National Pawnbrokers Association    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The National Pawnbrokers Association (NPA)announced the results of NPA 2012 Trend Survey that assesses how the changes in the U.S. economy affected the pawn industry since the beginning of 2012. According to the survey, the average pawn loan amount increased to $150, nationally. This estimate is up from 2010, in which the average loan amount was $100. Additionally, over 80 percent of pawnbrokers report an increase in the dollar amount of loans being extended. "Pawn store customers are from all walks of life and tend to borrow only what they need, as indicated by the average national loan amount," said Kevin Prochaska, president of the National Pawnbrokers Association. More

Russian asteroid crater revealed to be filled with over $1 quadrillion of diamonds
Tecca    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Call it the Soviet Union's most valuable cold war secret. This past weekend, Russia declassified the existence of what could very well be the richest diamond field in existence, located in the depths of a 62-mile diameter asteroid crater known as Popigai Astroblem in Siberia. More

Bolingbrook, Ill., pawnshop serves up unique merchandise for better part of 4 decades
Romeoville Reporter    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Step inside Bolingbrook's Trad'en Post pawnshop in Illinois and the first thing visitors often notice are gold chains, rings and coins in several glass display cases, as well as store manager Rick Goocher behind the counter. On this day, Goocher is eyeballing a ring through a jeweler’s lens, peering intently at the ducat trying to assess its value. More

Sudan's al-Bashir opens large gold refinery in Khartoum, Africa
BBC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Sudan's President Omar al-Bashir has opened the country's first gold refinery, which officials say is one of Africa's largest plants. Analysts say it is part of a strategy by the Khartoum government to deal with the loss of oil revenue following the session of South Sudan last year. The Sudan Gold Refinery will produce more than 328 tons of gold each year. More

FDIC: Almost one-third of US households have no savings account
Fox Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Almost a third of U.S. households don't have a savings account, according to a new federal study that also shows an increasing number of Americans managing their household finances without a bank. The Federal Deposit Insurance Corp.'s report, says that about 88.5 percent of households have a checking account, while highlighting that "only" 69.2 percent of households have a savings account. More

Gold and precious metals a top buy
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
More quantitative easing in the U.S., Europe and now Japan means good news for gold bugs. Gold and precious metals are a favorite of Texas-based mutual fund giant USAA. "Our number one conviction right now in this market is gold and precious metal stocks," USAA portfolio manager Wasif Latif said in an interview with Forbes at the Essex Hotel in New York. More

Big bank lending drops while small bank lending increases
Small Business Trends    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Small companies pursuing capital during the month of August found mixed results from lenders. In a month where the overall volume of loan applications increased by 4.3 percent, my company's Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications, revealed that approval rates increased at small banks and alternative lenders, but big banks and credit union approvals dropped in August 2012. More

The 10 commandments of growing a business
American Express OPEN Forum    Share    Share on FacebookTwitterShare on LinkedinE-mail article
For many entrepreneurs, starting a business is the easy part. The challenge really begins with how to grow it into a real company. Here are 10 rules that every startup should follow to grow its business profitably. More

Third of Las Vegans do 'banking' with pawnshops, payday lenders
VEGAS INC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Payday lenders and pawn shops may not seem like the best places to do your banking, but a rising number of Las Vegans are relying on them for personal finances. A total of 33.2 percent of Las Vegas Valley households were "underbanked" last year, up from 20 percent in 2009, according to a new survey from the Federal Deposit Insurance Corp., a banking regulatory agency. More

10 cyber threats small businesses can't ignore
InformationWeek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With limited resources to deal with security, small businesses often ignore potential threats. The best defense is to be aware of the threats and create security policies to deal with them. The following are ways to defend against 10 of the most serious — but too often ignored — dangers. More
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