Finance Industry

Emulate athletes in financial life says Kochie

WE LOVE sport. We’ll watch anything that is played well. So watching the Commonwealth Games was two weeks of sporting heaven. While we were enjoying some remarkable sporting achievements from the stands, we also marvelled at the focus, training and performance of the athletes. How they had prepared for success. It had us wondering whether some of those same techniques the athletes use could be adapted to managing and investing our finances better. Interestingly quite a few cross over. Their…

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Under Financial Pressure, Brattleboro Retreat Seeks State Funding Increase

click to enlarge After experiencing back-to-back deficits, the Brattleboro Retreat — Vermont’s largest provider of mental health care — is telling state lawmakers it needs a Medicaid rate increase. “It has to happen,” Human Services Secretary Al Gobeille told members of the House Health Care Committee last Tuesday. “If we did nothing with rates and nothing to improve their business position, Brattleboro Retreat would go bankrupt.” Retreat CEO Louis Josephson moderated Gobeille’s prognosis during an April 20 interview but acknowledged…

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House Finance Committee works toward finalizing Medicaid expansion

House Finance Committee works toward finalizing Medicaid expansion Updated: 6:25 PM EDT Apr 23, 2018 Hide Transcript Show Transcript WEBVTT ARE STILL AT THE SCENE OF THE LEAK TONIGHT. JEAN: A CRITICAL DEADLINE IS APPROACHING FOR NEW HAMPSHIRE’S MEDICAID EXPANSION PROGRAM. ON WEDNESDAY, THE HOUSE FINANCE COMMITTEE IS EXPECTED TO VOTE ON A PROGRAM THAT PROVIDES HEALTH INSURANCE TO 50,000 LOWER INCOME GRANITE STATER’S. TODAY, COMMITTEE MEMBERS MADE MINOR CHANGES TO THE PLANS WORK REQUIREMENT END RESULT SOME MANAGED CARE…

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Survey shows mixed citizen reactions as E.L. combats financial woes

A survey showed 71 percent of voters would say “yes” to an income tax, as long as it was limited to 12 years, according to a press release from the City of East Lansing. Only 25 percent of those surveyed said they would vote “yes” if the income tax was permanent, the release said. The Lansing-based company, Epic/MRA, conducted a phone survey of 300 registered East Lansing voters, which was commissioned by the city. A total of 42 percent of…

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YWCA expands financial literacy help for abuse survivors – Entertainment & Life – Wilmington Star News

The curriculum participants how to spot financial abuse and build the skills they need to become financially stable on their own. By Sarah Ann Craven StarNews Correspondent WILMINGTON — YWCA Lower Cape Fear has received a $50,000 grant from The Allstate Foundation to expand the YWCA’s improving financial literacy program for local domestic violence survivors. It will use these funds to incorporate the Purple Purse Moving Ahead Through Financial Empowerment program. The curriculum was developed by The Allstate Foundation.…

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Former lawmaker pays $70K penalty in campaign finance case

A former state lawmaker has paid a $70,000 penalty for violating campaign finance laws. Commissioner of Political Practices Jeff Mangan said Monday that Wesley Prouse of Shepherd had satisfied a January 2016 judgment, plus interest, for accepting $9,400 in illegal and unreported campaign aid in 2010. Prouse was one of nine lawmakers charged with receiving political support from the National Right to Work Committee, including promotional letters and opponent attack mail. Prouse served in the Legislature in 1998 and ran…

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How student assets count for financial aid

Q. I started a basic savings account for my daughter with me as the guardian when she was born. She’s now 16 and we’re looking at schools. What do I do with this account which is in her name?— Mom A. We’re glad to hear you started saving early. It sounds like this was opened as a custodial account, known as a Uniform Gifts to Minors Act (UGMA) account or a Uniform Transfer to Minors Act (UTMA) account. If so,…

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MR’s vanity projects helped China establish financial leverage over Sri Lanka – report

The official narrative in China and the highlighting of the country’s “core interests” in terms of fostering and promoting economic development in Europe and the Indo-Pacific region through the ambitiously conceived “Belt Road Initiative” (BRI) may not be entirely true.  According to a report prepared by the Center for Advanced Defense Studies (C4ADS), a Washington D.C.-based non-profit organisation dedicated to data-driven analysis and evidence-based reporting of global conflict and security issues, Beijing so-called dynamic infrastructure and investment-dominant BRI initiative most…

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Australia Looks to Heavy Fines to Punish Financial Services Wrongdoing

Australia’s competition watchdog on Monday supported massive increases in financial penalties for companies caught doing the wrong thing, after widespread misconduct was exposed by an ongoing inquiry into the financial sector. Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said the government was correct to propose penalties of up to 10 percent of turnover, potentially running into hundreds of millions of dollars. “The penalties we’re getting these days on both competition and consumer matters are tens of millions. We…

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UK finance firms urged to work together to fight cyber…

By Reuters Published: 19:03 EDT, 22 April 2018 | Updated: 19:03 EDT, 22 April 2018 By Emma Rumney LONDON, April 23 (Reuters) – Britain’s financial firms need to pull together to fight cyber crime, working with government and law enforcement to attack criminals’ infrastructure and put them out of business, a report by KPMG and industry body UK Finance said on Monday. The report argues the growing threat cyber crime poses to the financial sector cannot be countered just by…

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Somalia Finance Minister Says Country Passes Trust Factor

WASHINGTON —  Somalia’s finance minister said the country is winning in its effort to get the trust of international financial institutions and could receive debt relief as early as next year. Abdirahman Duale Beileh, who participated in the spring meeting of the International Monetary Fund (IMF) and World Bank last week in Washington, said Somalia has “passed [the] trust” factor with international creditors following roundtable meetings. “They [IMF] have submitted their assessment, and they said Somalia has passed,” he said.…

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#MeToo must also advocate for financial independence

In late 2017, the world heard a resounding chorus of voices from scores of women across a slew of industries who finally felt empowered to speak out on their personal experiences of gender inequity — from unsolicited sexual advances and harassment to pay disparity and professional advancements. This outpouring has rightfully been called a reckoning, and the #MeToo movement has continued to gain momentum in early 2018, shining a much-needed light on gender issues and injustices that have long kept…

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Australian banking scandal: New Zealand regulator in talks with financial firms

The financial sector watchdog says it is in talks with Australia’s major banks and financial services firms about the implications for their New Zealand arms in the wake of Australia’s banking inquiry which has exposed a series of scandals. The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry will head into its second week of hearings in Australia this week, probing issues around financial advice. Last week’s hearings saw the inquiry claim its first scalp after…

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We have financial muscle, technical expertise to manage ECG – Meralco

The Pilipino firm selected to manage ECG, Meralco has said it has the financial muscle and technical expertise to transform the power distribution firm. This follows concerns raised by sections of the public as well as workers and some civil society groups about their capabilities. This has led to calls for the Millennium Development Authority (MiDA) to come clear on how they Selection Meralco was this announced as the new owner of ECG subject to meeting government’s requirements. According to the…

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Welsh finance minister considering bid to succeed FM Carwyn Jones | Politics

The Welsh finance secretary, Mark Drakeford, has emerged as an early frontrunner to succeed Carwyn Jones as Welsh first minister. Jones said on Saturday he would step down in the autumn, having experienced “the darkest of times”. He has been under intense pressure since the Labour AM Carl Sargeant killed himself four days after being sacked as a minister over harassment allegations. Drakeford is experienced and well-respected with Welsh Labour. He won plaudits in his former job as health minister…

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