| 'Minority Report' credit scores to spot defaults before they happen
Credit reference agency Experian has launched a service that aims to alert the banks to borrowers at risk of defaulting on loans - before they actually run into difficulties. The Nottingham-based group said yesterday it will use its extensive financial data to watch for patterns among borrowers that may signal they are having trouble keeping up with their repayments. Until now it has taken between one and three months for banks to find out that customers may be getting into financial difficulties with other lenders. The new service, called Risk Triggers, instantly disperses this information, allowing the banks to take action - such as reducing credit limits - before a payment has been missed. The move has been likened to the storyline in the movie Minority Report where Tom Cruise's character arrests "murderers" before they have committed a crime, based on the foreknowledge of psychics.
Flying this Thanksgiving? AAA has tips that'll stop you from giving somebody the bird
The movie, "Planes, Trains and Automobiles," has become a holiday favorite. Why? Because everybody can identify with Steve Martin's character desire to be home on Thanksgiving. Will your Thanksgiving turn into a turkey because of unexpected travel hassles? .
Higher gas, food prices lead to smaller sales gain
WASHINGTON (AP) — Retail sales managed a small increase in October as consumers struggled with falling confidence caused by a steep slump in housing and tighter credit conditions.The Commerce Department reported Wednesday that retail sales edged up 0.2 percent in October compared to the previous month. It was the weakest showing since a 0.1 percent rise in August and represented a significant slowdown from a 0.7 percent jump in September sales.Analysts attributed much of the small October gain to higher prices for gasoline and food rather than an actual increase in demand.In a separate report, the Labor Department said inflation at the wholesale level rose a slight 0.1 percent in October, far below the 1.1 percent surge in September. The improvement reflected the fact that energy prices fell by 0.8 percent last month after having soared by 4.1 percent in September.
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