A study from Scottish Widows has revealed that more than three-quarters of families in the UK with children under 16 are without income protection, up from 69 per cent in 2013.
This further highlights the increasing protection gap, and is based on the results of a major survey with more than 5,000 respondents. On top of this, over half of those who have children admitted that their savings would last no longer than a couple of months if they were unable to work.
Nearly half of those with children under 16 are reliant on two incomes, while 14 per cent admitted that parents or grandparents are dependent on their income.
The majority of protection customers, some...
Burger King Worldwidehas obtained commitments for $12.5 billion of financing to fund the cash portion of its merger with Tim Hortons, including a $9.5 billion debt financing package led by JP Morgan and Wells Fargo, the company announced.
The debt financing for the transaction, which was unveiled today, will consist of a $6.75 billion TLB, a $500 million revolving credit, and senior secured second-lien notes in the amount of $2.25 billion. In addition, Berkshire Hathaway has committed $3 billion of preferred equity financing. Berkshire is simply a financing source and will not have any participation in the management and operation of the business, sources said.
Burger King has roughly...
The UK currently sits 11th in the league table, having slipped behind both Spain and Italy, according to the Post Offices Future of Savings Study, which analyses the saving habits of 18 countries with comparable costs of living.
It discovered that since 2010, the average amount each UK household could potentially save each year has fallen by more than 10 per cent to £3,781. This is almost £5,000 less than Australia and £3,286 less than the highest placed European country – Switzerland. According to Henk Van Hulle, head of savings at the Post Office, the figure for the UK could fall to as little as £3,000 by 2018, which would put it below the majority of advanced European...
Starwood Energy Group Global LLC., a Greenwich-based private investment firm focused on energy infrastructure, recently completed financial agreements through an affiliate on a second Texas wind project.
The Stephens Ranch project, a two-phase project totaling 377 megawatts, is expected to complete its second phase by mid-2015. The 165-megawatt second phase of the project is the second wind farm the company agreed to finance and construct. The first wind farm project was a 211-megawatt project, which closed in January with GE, Santander and Citigroup providing financial support. The 211-megawatt project is expected to be completed by the end of 2014.
The project will be financed...
USDA Launches Dairy Insurance Program
The USDA is continuing to announce details of programs authorized in the new Farm Bill. On Thursday, it unveiled details of the new dairy insurance program. The Dairy Margin Protection Program was a compromise between the House and Senate. House Republicans wanted a more market-oriented dairy program, while Senate Democrats wanted an income protection program. So the Farm Bill contains two dairy programs: one that deals with supply, and one that provides revenue insurance. The program announced by Secretary of Agriculture Tom Vilsack addresses the latter, The voluntary program, provides financial assistance to participating farmers when...
KUWAIT (Reuters) – Kuwaiti authorities on Thursday released a prominent Sunni Muslim cleric they had detained the previous day after the United States put him on a sanctions list over suspicions he funded militants in Iraq and Syria, his lawyer told Reuters.
Hajjaj al-Ajmi, who had been detained at Kuwait airport on his arrival from Qatar, was released without charge, the lawyer said.
In their push to crack down on financing of militants in Syria and Iraq, Kuwaiti authorities also briefly detained another prominent Muslim cleric on Sunday, Shafi al-Ajmi, who belongs to the same extended tribe as Hajjaj al-Ajmi.
Shafi al-Ajmi was later released without charge.
WASHINGTON — House Republicans are agitating to dramatically curb federal bank regulators ability to combat money laundering, calling for changes in decades-old financial fraud standards in an effort to aid payday lenders.
Moving illegal cash through the financial system has long been barred by money laundering laws. But under a bill introduced by Rep. Blaine Luetkemeyer (R-Mo.), federal regulators would be forbidden from doing anything to restrict or discourage a bank from doing business with any company that has both a license to do business and a reasoned legal opinion from a lawyer claiming that the business doesnt break the law.
Thats not a high hurdle to clear. Obtaining...
CONVERSE, Texas – A few years back, Judson ISD alloted for $3.8 million in energy costs. It was a number that district leaders knew they could cut into. Lee Raspberry, Judson ISD’s energy manager, stepped in to create a greener and cheaper scenario for the district.
I have a responsibility to the taxpayers in the district, almost as if theyre shareholders,” said Raspberry. Theres not this huge bucket of energy we can go get anytime we want it, so we have to be the best steward of our natural resources.
So Raspberry enrolled the district in a CPS initiative called the Demand Response Program over the past two summers. It calls on major energy users to cut back...
By Morgan Smith
The Texas Tribune
Nearly three years after more than 600 Texas school districts sued the state challenging the school finance system, a Travis County judge has ruled in their favor.
In an almost 400-page opinion released Thursday, state District Judge John Dietz said that the state#x2019;s school finance system is unconstitutional not only because of inadequate funding and flaws in the way it distributes money to districts, but also because it imposes a de facto state property tax.
Texas Attorney General Greg Abbott#x2019;s office, which had argued that the system was flawed but nonetheless constitutional, said Thursday that the state...