Same day money – Direct Vanqex Sat, 25 Sep 2021 17:07:56 +0000 en-US hourly 1 Same day money – Direct Vanqex 32 32 Huawei executive returns as China frees 2 Canadians | World news Sat, 25 Sep 2021 15:18:04 +0000

SHENZHEN, China (AP) – An executive with Chinese global communications giant Huawei Technologies returned from Canada on Saturday evening following a legal settlement that also saw the release of two Canadians detained by China, potentially ending a quarrel of almost 3 years. Ottawa, Beijing and Washington.

Meng Wanzhou, chief financial officer of Huawei and daughter of the company’s founder, arrived on a chartered jet provided by the national airline Air China in the southern tech hub of Shenzhen, where Huawei is based, on Saturday evening.

His comeback, met by a group of flag-waving airline workers, was broadcast live on state television, highlighting how Beijing has linked its case to Chinese nationalism and its rise as an economic powerhouse. and global politics.

Wearing a red dress to match the color of the Chinese flag, Meng thanked the ruling Communist Party and its leader Xi Jinping for supporting her for more than 1,000 days under house arrest in Vancouver, where she owns two mansions of several million dollars.

“I have finally returned to the warm embrace of the homeland,” Meng said. “As an ordinary Chinese citizen going through this difficult time, I have always felt the warmth and concern of the party, the nation and the people.”

On the same day, former diplomat Michael Kovrig and entrepreneur Michael Spavor were freed and flown back to Canada. They were arrested shortly after Canada arrested Meng on an extradition request from the United States in December 2018. Many countries have called China’s action a “hostage policy”, while the China has accused Ottawa of arbitrary detention.

Prime Minister Justin Trudeau hugged the two men on the tarmac after they landed in Calgary, Alta. Early Saturday in what amounted to a high-stakes prisoner swap involving China, the United States and the United States. Canada.

“These two men went through an incredibly difficult ordeal. Over the past 1,000 days, they have shown strength, perseverance and grace and we are all inspired by them, ”Trudeau said earlier Friday.

Meng, 49, reached a deal with U.S. federal prosecutors that called for the fraud charges against her to be quashed next year. As part of the deal, known as the Deferred Prosecution Agreement, she accepted responsibility for distorting the company’s business relationship in Iran.

Shortly before his return, the Communist Party’s flagship newspaper, the People’s Daily, declared that the resolution of the case was a “glorious victory for the Chinese people” achieved through “the unremitting efforts of the Chinese government.”

“The evidence shows that this was purely a case of political persecution of a Chinese citizen with the aim of suppressing China’s technological advancement,” the newspaper said. “No force can block China’s progress,” he added.

In an emailed statement, Huawei said it would continue to defend itself against the allegations. The company also sent a statement from Meng’s attorney, William W. Taylor III, claiming that it had “not pleaded guilty and we expect the indictment to be dismissed with prejudice after 14 month”.

The case had caused a huge rift in Sino-Canadian relations, with Beijing regularly launching swords against the Canadian legal system and banning some imports from the country. In addition, two Canadians convicted in separate drug cases in China were sentenced to death in 2019. A third, Robert Schellenberg, was sentenced to 15 years in prison, which was brutally increased to the death penalty after the arrest of Meng. It was not immediately clear whether these prisoners could be granted a reprieve.

In Shenzhen, 20-year-old job seeker at Huawei headquarters repeated the government’s view that Meng’s arrest was motivated by politics and rivalry with the United States over technology and global influence .

“I think (this) had to stop the development of Huawei in the world,” said the man, who gave only his last name, Wang, as is often the case among citizens addressing to foreign media in China, where the government closely monitors all speeches. “This is a very important reason – no one wants other countries to have better technology than him.

Huawei is the world’s largest supplier of network equipment for telephone and internet companies and a symbol of China’s progress to become a global technological powerhouse that has received massive support from the government. It has also been the subject of security and law enforcement concerns in the United States, with officials and analysts claiming that it and other Chinese companies flouted international rules and standards and stole documents. technologies and vital personal information.

The case against Meng stems from a January 2019 indictment from the Justice Department under the administration of former President Donald Trump. He accused Huawei of stealing trade secrets and using a Hong Kong shell company called Skycom to sell equipment to Iran in violation of US sanctions. The indictment also accused Meng herself of committing fraud by misleading HSBC bank about the company’s business dealings in Iran.

The indictment came amid a broader Trump administration crackdown on Huawei over concerns from the US government that the company’s products could facilitate Chinese espionage. The administration cut off Huawei’s access to U.S. components and technology, including Google Music and other smartphone services, and subsequently banned vendors around the world from using U.S. technology to produce components for Huawei.

President Joe Biden, meanwhile, has maintained a hard line on Huawei and other Chinese companies whose technology is considered to pose national security risks.

Huawei has repeatedly denied claims by the US government and safety concerns with its products.

As part of the deal with Meng, which was leaked in federal court in Brooklyn, the Justice Department agreed to dismiss fraud charges against her in December 2022 – exactly four years after her arrest – on condition that it comply with certain conditions, including not contesting any of the government’s factual allegations. The Justice Department also agreed to drop her request for Meng’s extradition to the United States, which she had vigorously contested, ending a process that prosecutors say could have persisted for months. .

After appearing by video conference for her hearing in U.S. District Court for the Eastern District of New York, Meng appeared briefly in Vancouver court, where she was released on bail while the two Canadians were held in jail cells. Chinese where the lights were on 24 hours a day.

Outside the courtroom, Meng thanked the Canadian government for upholding the rule of law, expressed his gratitude to the Canadian people and apologized “for the inconvenience.”

“Over the past three years my life has been turned upside down,” she said. “It was a disruptive time for me as a mother, wife and business leader. But I believe every cloud has a silver lining. It was truly an invaluable experience in my life. I will never forget all the good wishes I received.

A video was also posted online in China of Meng speaking at Vancouver International Airport, saying; “Thank you homeland, thank you to the people of the homeland. You have been my biggest pillar of support.


Associated Press editors Eric Tucker in Washington, Rob Gillies in Toronto, Jim Mustian in New York, and Jim Morris in Vancouver, Canada, contributed to this report.

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Beware of the backlash as financiers enter rental property Sat, 25 Sep 2021 01:10:21 +0000

BERLINERS, MORE more than four-fifths of them rent their homes, have an unusual opportunity on September 26 to express their anger at the rising cost of housing. A referendum on the same day as Germany’s national and municipal elections will give them their say on whether the city should indeed ‘expropriate’ some of Germany’s largest residential real estate companies, affecting up to 240,000. housing. The vote is non-binding. But its impact on the housing market is already being felt. On September 17, two giant real estate investment firms, Vonovia and a firm it targets in a € 19.1 billion ($ 22.5 billion) takeover, Deutsche Wohnen, announced that they would sell nearly 15,000 apartments in the city for 2.5 billion euros. They described it as a friendly gesture. But it was also a thinly veiled attempt to stop being robbed of the keys to their own house.

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Whatever the outcome of the referendum, it serves as a warning to institutional investors crowding into residential real estate in Europe and America. Real estate investment funds (REITs), private equity firms, insurance companies and pension funds view the single-family rental housing market as a relatively high-yield hedge against inflation that has spared the impact of pandemic-related closures on desks and stores. But housing affordability has great political sensitivity. In Berlin, rents have roughly doubled in a decade. Across Europe, their increase exceeded salary increases. In America, where a quarter of renters pay more than half of their income to landlords, rents in June were up 7.5% from a year ago, when they were up 1.4%. The largest increases were recorded in Phoenix and Las Vegas, up 16.5% and 12.9% respectively over the same period. At the national level, it is difficult to blame the rising rents on institutional investors. But in some cities where they focus their wallets, faceless mega-bodies are increasingly seen as part of the problem.

The biggest names are known. The asset management businesses of BlackRock and JPMorgan Chase are among the rush of buyers. KKR, a private equity firm, is building a new single family owner entity in America. The sums at stake are increasing rapidly. According to Redfin, a residential brokerage firm, approximately $ 87 billion in institutional money was invested in the U.S. rental housing market during the first half of this year. About 16% of single-family homes for sale were bought by investors in the second quarter, up from more than 9% a year earlier. A similar shift is underway in Europe where companies such as Goldman Sachs, Aviva and Legal & General are entering the market. Lloyds Banking Group, Britain’s largest mortgage lender, is also embarking on housing with the goal of purchasing 50,000 homes over the next decade. This could make it the largest landlord in the country.

This is not the first time that the investment market has been hot. Blackstone, a financial conglomerate, was one of the first major investors to buy foreclosed homes, many of which are vacant or in poor condition, after the global financial crisis of 2007-09. The company went to foreclosure auctions in American courthouses and drove street by street, comparing neighborhoods and school districts. In 2012, she paid $ 100,000 for her first purchase in Phoenix. Soon he was spending $ 125 million on houses every week. That same year, Blackstone formed Invitation Homes, now America’s largest single-family rental home owner, before going public in 2017 and selling its shares two years later. Today, Invitation Homes owns 80,000 units in a total market of 16.2 million single-family rental units. In total, the housing bet earned Blackstone nearly $ 7 billion in dividends paid before and since Invitation Homes listed its shares, more than double its initial investment. The company, which has returned to the market, recently acquired Home Partners of America, which owns more than 17,000 single-family homes, for $ 6 billion. It gives its tenants the opportunity to buy.

The main driver of renewed investor enthusiasm is different from a decade ago. Partly because of the demographics. In the wake of the financial crisis, many millennials have preferred metro apartments to establish their careers. As more and more of them enter middle age (America’s 35-44 cohort is expected to grow at double the rate of the average over the next five years), they want more space. . It is also because of the pandemic. While remote working remains attractive, it will increase the demand for housing further from city centers. This helps explain why institutional buyers have crammed into secondary cities such as Phoenix, Raleigh, Greensboro, and Dayton.

Many of this cohort would rather buy than rent, but high house prices are a barrier. In the United States, median housing cost about 4.3 times the median household income in 2019, up from 3.9 times in 2002. In Britain, the average housing currently costs more than eight times the average income, a level which has only been exceeded twice in the past 120 years. years. While rents are also rising, renting a suburban home with an office and room to raise children may be an interim option.

Some people blame big investors for both soaring house prices and rising rents. On a global level, this is a difficult case to do. Professional investors own only 2% of the total rental housing stock in America. In Europe, less than 5% of residential real estate is in the hands of large funds listed on the stock exchange. But in cities where institutional investors are increasingly active, they can have more impact. They also frequently pay in cash, which gives them an edge over mortgage buyers in a competitive market. One in six home sales in America went to an investor between April and June, according to Redfin. In cities like Atlanta, Miami and Phoenix, the figure was one in four.

This may explain part of the political scrutiny. “Institutional investors are walking a tightrope,” says Cedrik Lachance of Green Street, a real estate analysis firm. On the one hand, the rise in rents makes investments more attractive. On the other hand, they invite harsher political responses. The White House imposes limits on the sale of houses at lower cost to large investors. In Ireland, property taxes have been increased to prevent institutional investors from owning family homes that would normally be marketed to first-time buyers.

Such regulatory responses can appeal to the crowd. They will not solve the rental problem. A study has shown that rent control policies in Catalonia, a region of Spain, not only failed to make the market more affordable, but actually worked against it. The number of available homes fell by 12% while prices remained unchanged. Likewise, researchers studying the impact of a five-year rent freeze in Berlin found that the number of rental properties collapsed last year. Catalan law has been challenged by a constitutional court. The one in Berlin was hit.

Instead, more residential construction is the answer. Some homeowners argue that they are increasing the housing stock by giving developers the certainty of buying in bulk. Lennar, the largest homebuilder in the United States by revenue, recently signed a $ 4 billion deal with investors that includes the construction of more than 3,000 homes. Besides, REITIn America, like Invitation Homes and American Homes 4 Rent, are either building more homes or partnering with home builders to increase their supply. In Britain, where one in five newly built homes could be owned by institutions by the end of the decade, Lloyds announced a fund to boost house building in exchange for a share of the profits. Professional owners who own multiple properties also claim they are able to offer better service, more maintenance, and longer leases than individual owners who might sell at any time.

But in the wake of the pandemic, house building around the world is anemic. Labor and material shortages held back growth. Fewer homes on the market mean single-family institutional investors in America increased their portfolios 1.5% in 2020, up from 9.2% in 2018, according to Amherst Capital, a real estate company. Less residential construction increases the chances that rents will continue to rise. Annual returns in America and Europe are expected to reach 15.1% and 17.5% respectively over the next few years. The asset class will therefore remain attractive from an income point of view, but riskier from a regulatory point of view. Even though a majority of Berlin tenants vote against landlords, it’s hard to imagine significant legislative changes to restrict property rights. But for the most greedy investors, the writing is on the wall, four windows and a door.

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This article appeared in the Finance & economics section of the print edition under the title “The new rent-seekers”

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Office worker guilty of embezzling money from St Andrews architectural firm Fri, 24 Sep 2021 12:44:00 +0000

Office worker guilty of embezzling money from St Andrews architectural firm

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Welcome to the New Record Business: Warner Music Group Now Generates Over $ 270 Million From TikTok, Peloton, Facebook and Other “Alternative” Platforms Every Year Thu, 23 Sep 2021 20:39:13 +0000

MBW’s Stat Of The Week is a series in which we highlight a data point that deserves the attention of the global music industry. Stat Of the Week is backed by Five Music Group, a technology-driven label, distribution and rights management company.

It’s been a week for the majors.

Universal Music Group debuted on the Amsterdam Stock Exchange with a market cap of $ 54 billion on Tuesday, September 21. Warner Music Group saw its share price rise nearly 10% on the same day. And Sony Corp, parent company of Sony Music Group, has seen its stock price climb 6.8% since the market closed on Monday so far.

Much of the investor buzz around the majors has obviously been quite focused on on-demand music streaming and the growth potential offered by Spotify and YouTube over the next decade, particularly in so-called markets. emerging.

Yet there has also been a lot of investor talk about other fast-growing non-traditional music revenue streams – usually secured by licensing agreements – from platforms such as TikTok, Facebook, and Peloton, as well as on music’s flourishing business relationship with games (including Roblox).

Today (September 23), Warner Music Group boss Steve Cooper revealed an astonishing statistic on this second less talked about area of ​​the business – a statistic which, according to MBW’s calculations, suggests it This is a sector that is already worth a billion dollars a year. revenues for the global music rights industry.

Speaking in an interview at Goldman Sachs’ Communacopia event this afternoon, Cooper confirmed that Warner Music Group’s recorded music operation has current revenue of $ 235 million per year. from “alternative offerings that create new use cases for music”.

Cooper also confirmed that the same revenue streams provide liquidity at a “proportional rate” to WMG’s music publishing business.

“We believe that this intersection between play, fitness, [and] social / digital, will generate substantial income in the future, ”said Cooper.

What are these “alternative offers”?

Cooper notably called out Facebook (which has “started using music in new and interesting ways over the past two years”) as well as TikTok, Peloton and Roblox for their material contributions to the $ 235 million figure, as well as ‘other platforms and innovations that are providing “new use cases” for music.

“You have to keep in mind that in all of these areas – metavers and games, live streaming, use of avatars, NFTs – are all in their infancy. [in terms of their relationship with, and payment to, music rightsholders]Cooper said. “But many of them have the potential to become the next global platform. And in fact, many of them are already moving in this direction.

Analyzing the numbers on what Cooper revealed today says a lot about how powerful these new revenue streams are set to become for rights holders big and small in the years to come:

  • First: The music publishing division of Warner (Warner Chappell) was 16.4% the size of its recorded music division, in terms of revenue, in the company’s last fiscal quarter (until end of June 2021). So when Steve Cooper says that the “alternative offers” are currently making money for Warner Chappell at a “proportional rate” to WMG’s record business – and that this $ 235 million a year from them – we can safely assume that the WMG edit operation generates somewhere around $ 38 million on an annual run rate from the same platforms.
  • Combined, through editing and recording, this means that Warner currently has to generate around $ 273 million from Facebook, TikTok, Peloton etc. on an annualized basis.
  • According to Music & Copyright, Warner Music Group claimed a 15.9% market share of global recording industry revenue in 2020. If this is correct, it would suggest that the current revenue opportunity through the all the record industry of “alternative offers” is somewhere in the region of $ 1.48 billion per year (that is, if Warner’s $ 235 million figure represents only 15.9% of industry-wide business, $ 1.48 billion would be the “cake” total).

Warner, of course, could have achieved a market share of well over 15.9% of the total money now going into the music business from Facebook / TikTok / Peloton etc.

Indeed, Steve Cooper claimed today that his company had been unusually ‘early in this game’ in terms of Warner ‘taking advantage of these [alternative] platforms with strategic partnerships and investments ”.

So for the sake of the argument let’s say Warner is currently eating a full 25% annual money from “alternative” platforms to the recorded music publishing industries and ($ 273 million, in Warner’s case).

This would still mean that Facebook / TikTok / Peloton et al are already a billion dollars annual revenue generator for the broader global music rights industry today.

Cooper added in his interview with Communacopia: “We intend to continue investing well beyond traditional streaming. And we see it over time, [these platforms] is expected to provide a tremendous additional income opportunity for the music industry.

In a broad discussion in Communacopia with Stephen Laszczyk of Goldman Sachs, Cooper was also asked about Universal’s IPO earlier this week (at that nice opening market cap of $ 54 billion).

He replied: “Just to state the obvious, before [Warner] became public [last year] and UMG was from Vivendi, we had successfully competed in the music business [against] Universal and Sony for decades. Due to our “One Warner” approach, our global reach and in particular our artist-friendly agility, I think we are actually better positioned than our competitors to take advantage of the dynamic changes that have had and will continue to grow. take place in the musical landscape over the next two years.

“As far as Universal is concerned, I think their spin-out is good news for the music industry… I think it’s especially good that Universal agrees with our vision for the future. “

Steve Cooper, Warner Music Group

Cooper added, “As far as Universal is concerned, I think their spinoff is good news for the music industry. The market reaction validated the favorable global trends around music.

“Having another pure music company in the public eye will improve investor education on the value actually provided by large music companies. And I think it’s especially good that Universal agrees with our vision for the future.

Five Music Group’s repertoire has won Grammy Awards, dozens of RIAA Gold and Platinum certifications, and numerous No. 1 positions on a variety of Billboard charts. His repertoire includes heavyweights such as Bad Bunny, Janet Jackson, Daddy Yankee, TI, Sean Kingston, Anuel and hundreds more.Music trade around the world

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Evergrande stock soars even as major ally considers selling all of its stock Thu, 23 Sep 2021 02:12:36 +0000

By Laura He, CNN Business

This is the critical moment for the Chinese group Evergrande, which is heavily in debt.

The sprawling Chinese real estate The conglomerate faces a critical test on Thursday: will it be able to meet its obligations to bondholders, or will it come close to default?

Evergrande is due to pay $ 83.5 million in interest on a dollar-denominated bond on Thursday, according to data from Refinitiv. It is not yet known whether the company will make this payment. Investors have already been rocked by the risk of one of China’s biggest developers collapsing, sending shock waves through the world’s second-largest economy.

The company is also expected to pay interest on a yuan bond due on the same day, although it has already reached an agreement with bondholders on that payment, according to an Evergrande stock file on Wednesday.

Following the announcement, Evergrande stock rebounded to 32% on Thursday, as the Hong Kong market reopened after a public holiday. The larger Hang Seng index rose nearly 2%, boosted by real estate and financial stocks.

“The focus is now on its dollar bond interest payment due today after resolving its domestic bond payment,” Yeap Jun Rong, market strategist for IG Group, said in a research report Thursday.

Markets will wait for a new resolution on its subsequent bond payments in order to have “greater conviction on mitigating contagion risks,” he said.

Chinese Estates, Evergrande’s second-largest shareholder and a long-time business ally of the company, said in a stock exchange document on Thursday that it had already sold HK $ 246.5 million of Evergrande shares in recent years. weeks. The company can also sell the remaining shares, he added. Chinese estates jumped nearly 7% in Hong Kong.

Even if Evergrande does not payment of $ 83.5 million immediately, he may still have time. The company has a 30-day grace period before “officially going default,” wrote Jeffrey Halley, senior market analyst for Asia-Pacific in Oanda, in a research note this week.

But any missed deadline will fuel investor anxiety about the viability of the business.

Evergrande is stumbling under $ 300 billion in debt, largely held by Chinese financial institutions, retail investors, home buyers and its suppliers in the construction, materials and design industries. Foreign investors also hold part of its debt. In recent weeks, the company has twice warned investors that it could default if it is not able to raise funds quickly.

It is not yet clear whether the company will actually default or whether Beijing will step in and orchestrate some type of restructuring to contain the fallout on China’s financial system and economy as a whole.

Will Beijing bail out Evergrande?

Real estate represents more than 7% of the Chinese economy, and many analysts believe the Chinese government will eventually intervene to some extent, although a full bailout is unlikely.

“We don’t expect government actions to help Evergrande unless systemic stability is threatened,” S&P Global Ratings analysts said in a research report earlier this week. “A government bailout would undermine the campaign to bring greater financial discipline to the real estate industry. “

Instead of a bailout, analysts expected the government to focus on steering Evergrande through an orderly process of debt restructuring or bankruptcy, while facilitating negotiations and funding. to ensure that small investors and home buyers are protected “as much as possible”.

Only if the Evergrande contagion came to would cause other big developers to fail, would the government intervene directly, they added. But they believe that the only blow to the financial system by Evergrande will always be “manageable.”

Macquarie Group economists, meanwhile, also don’t think a “big bailout” of Evergrande is likely.

“The government would ensure that pre-sold apartments are built and delivered to homebuyers,” they said, while adding that shareholders and lenders could “suffer a big loss”.

However, Beijing will be careful to avoid any escalation in protests recently staged by investors and apartment owners, who have gathered outside Evergrande’s headquarters in Shenzhen to demand their repayment.

Long-standing concerns

Evergrande’s troubles have been brewing for a while. In recent years, debts have exploded as she borrowed to finance her various activities, from housing and electric vehicles to sports and theme parks. Then, in August 2020, Beijing began to curb excessive borrowing in the real estate sector in order to prevent the housing market from overheating and restraining debt growth.

In recent weeks, Evergrande’s liquidity crisis has intensified, causing the company’s stocks and bonds to fall further.

The need to “soften the blow” for small investors will likely be at the center of any restructuring of Evergrande, according to Robert Carnell, head of research for Asia-Pacific at ING Economics.

He cited Chinese President Xi Jinping’s recent emphasis on “common prosperity” and the need to redistribute wealth in the interest of “social equity”. This pledge has influenced Beijing’s sweeping crackdown on technology, finance, education and other sectors, accusing the private sector of being the source of financial risks and of exacerbating corruption and inequality. .

™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

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Apps like Revolut help me manage my money Wed, 22 Sep 2021 19:02:00 +0000 Growing up I would say I haven’t had the best relationship with money but I’m improving. I was encouraged to find a job when I was 15 and worked all the rest of school and university, in Cork and Dublin. In a sense, I learned the value of a euro, but I would also live paycheck to paycheck; hang out with friends, buy fast fashion – that sort of thing. The habit of saving and “looking at the big picture” came a bit later when I was in my twenties. Now, I feel like I’ve implemented small changes in my day-to-day relationship with money, including money-related apps like Revolut Savings, Splitwise, and Olivia.

Are you a spender or a saver?

I would like to think of myself as a saver, but I am definitely a spender!

Do you find it hard to splurge?

I don’t splurge on a whim, I really do take all the elements into account, and often give myself a few weeks before I actually commit to anything that would be considered “madness.”

What’s the best money-saving advice you’ve ever given you?

I recently heard someone, who is also self-employed, say that every time they spend money, they view the transaction on a cyclical basis. In essence, you have to spend money on your business, but you also have to believe that the same money will come back in abundance in your work and business. I repeat this mantra every time I pay a bill or pay a bill. This mindset has certainly helped me with the daily costs of running a business and lets me know that the money will come back to my business, bigger than ever !!

Are you following a budget and what is your process?

My business partner Rory and I have a weekly budget, which we monitor not only our spending, but also our sales goals and targets on a weekly basis. Knowing what is coming in, but also what is going out is essential for a business. My grandfather used to say, ‘There is no such thing as bad business, just bad accounts.’

What’s the most expensive thing you’ve ever bought?

We’re in the process of buying a van for Foxglove Cocktails, and I think it’s definitely the most expensive single thing I’ve bought in a long time!

What’s the most important thing you’ve ever bought?

Looking back, I think the most important thing I have ever bought is the opportunity to travel – I lived in America for six years and traveled all over the place while I was there, as well. than before that, when I was in college. Each trip has been a different experience and helps expand your mind to different people, cultures, foods and lifestyles. For me, it is more important than the material purchases.

At what age did you start your pension and did you know it was important at the time?

When I was living in New York, I started a 401-k (the American version of a pension that I won’t have access to until I’m 65). Now that I am self-employed in Cork it is a bit more of a challenge but I am learning that it is better to start a small pension fund now, even if it is small. The key is consistency.

What’s the biggest mistake you’ve made financially and what lesson do you learn from it?

My biggest mistake was fear and ignorance of my financial situation when I was in college. I used to dread checking my internet banking after weekend activities, and often put it off for days, which only increased fear and anxiety. But once I checked it out, I always felt better. So when I left home I was forced to be more financially responsible and used to log into my online banking once. A quick glance at your financial situation every day can really help you keep your spending and your budget in check. This little habit has helped me overcome this fear, slowly but surely!

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How long does it take for a check to be deposited and cleared? Tue, 21 Sep 2021 13:13:42 +0000

The rise of payment applications and cards has reduced the use of checks in everyday transactions. However, a lot of people still love the good old paper. For example, a family member might write you a check for your birthday. If you are hoping to use the money to buy the next cryptocurrency to explode, keep in mind that it may take some time before you can access the funds from a check. How long does it take to deposit a check and which banks are the fastest at clearing checks?

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After receiving a check, you must deposit it so that you can receive the money in your bank account. There are several ways you can deposit a check. For example, you can drive to the bank and drop off the slip in person. You can also deposit it at an ATM.

Alternatively, you can capture the image of the check with your smartphone and deposit it through your bank’s mobile app. When using the app, don’t forget to endorse the check by signing the back of it.

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How long does it take to deposit a check?

Federal rules require banks to release funds for checks of $ 200 or less the next business day after deposit. For checks over $ 200, you should be able to access the money on the second business day after the deposit. Sometimes checks can clear faster or be delayed. Therefore, the time taken to process checks may vary from bank to bank.

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Why do banks take so long to deposit a check?

A check must go through a clearing process before the bank can make the money available to you. While the standard time to clear a check is two days, it can sometimes take up to seven days or more.

Several factors can cause a longer control to be cleared. For example, you may have to wait a long time to receive money if you deposit a check into an account that has been open for less than 30 days.

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A check deposit may also be delayed if your account has had multiple overdrafts in the past few months. Large checks over $ 5,000 may take longer than the standard time to clear. The bank may subject your check to a longer retention period if they suspect fraud.

Which banks take the least time to deposit checks?

As competition has intensified, many banks have improved their check clearing process. For example, Wells Fargo can release up to $ 400 of your check amount the same day you deposit it at the branch or ATM. PNC Bank will allow you to access up to $ 100 of your check amount on the same day for deposits you make through its mobile app, branch or ATM.

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Bank of America, Citigroup and Capital One will allow you to access up to $ 5,225 of your check amount the next business day after deposit. At TD Bank, you can cash your qualifying check on the spot if you pay a 3% service charge. Square and PayPal can also cash your check instantly for a fee.

Which banks take the longest time to deposit checks?

All banks will subject your check to an extended retention period if clearing it involves a complex process or there is a problem. For example, a check for a large amount drawn on an international bank will usually take longer to clear at any bank. Also, it would take a long time for any bank to process a check if the payor’s account is suspended for some reason. Finally, if you want a check cleared quickly, try depositing it as soon as it is received.

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GOP activists accused of ‘straw donor’ plot to channel Russian donations in 2016 election Tue, 21 Sep 2021 00:57:47 +0000

RRepublican activists and allies of Republican Senator Rand Paul are accused of conspiring to use “straw donation” to illegally funnel $ 25,000 donation from Russian national to Donald Trump Presidential Victory Fund in the 2016 elections.

The Justice Department on Monday unveiled an indictment accusing Jesse Benton, 43, and Roy Douglas “Doug” Wead, 75, of a “conspiracy to solicit and provoke an illegal election contribution from a national abroad, to make an indirect contribution and to provoke false files to be filed with the Federal Election Commission. The duo “conspired to solicit political input from a Russian foreign national” known in court records only as “Foreign National 1,” according to federal prosecutors.

The 19-page indictment says the men “conspired to illegally funnel thousands of dollars of foreign money from a Russian national into an election for the post of President of the United States of America” ​​and ” concealed the scheme from the candidate, from federal regulators. , and the public by secretly funneling the Russian national’s foreign money through Benton, who acted as a straw donor.

Wead “let Foreign National 1 know that he could meet Political Candidate 1, a presidential candidate in the 2016 election cycle, in exchange for payment,” the Justice Department said. The anonymous candidate is identifiable as then candidate Trump.

Prosecutors said after the Russian agreed to make the payment, Benton contacted the Republican National Committee and “arranged for Foreign National 1 to attend a political fundraising event and get a photo. “with Trump” in return for a political contribution to … fundraising committee made up of the campaign committee “for Trump, the Republican Party and related GOP state committees. The DOJ said:” Foreign National 1 ultimately wired $ 100,000 “to a political consultancy firm owned by Benton and” to cover up the real purpose of the money transfer, Wead and Benton created a fake invoice for “consultancy services” and made up a story of blanket. “

FEC records show $ 25,000 donation to ‘Trump Victory’ fund from ‘Jesse Bentor’ [sic] October 27, 2016 – the same day mentioned in the indictment.

Benton was Paul’s campaign manager for his successful Senate candidacy in 2010, and he worked on the unsuccessful 2012 presidential campaign for Rand Paul’s father, former GOP Rep Rand Paul.

Benton was convicted, along with others, in 2016 of allegedly paying Iowa State Senator Kent Sorenson $ 73,000 to change his endorsement in favor of Ron Paul before the caucuses of the Iowa. Benton has denied any wrongdoing, although the Supreme Court refused to hear the appeal of Benton’s conviction in 2019. Trump pardoned Benton in December after urging Rand Paul and former Federal Election Commission chairman Lee Goodman.

Benton was hired as the campaign manager for Senatorial Minority Leader Mitch McConnell’s re-election campaign in 2014, but resigned in August 2014 when the 2012 scandal began to make the news. He was hired by the pro-Trump Great America Super PAC in 2016.

Wead failed as a candidate for Congress in 1992, aided former President George W. Bush in the 2000 GOP primaries, and advised former GOP Ron Paul’s 2012 presidential campaign and the 2016 presidential campaign by Rand Paul. He wrote Inside Trump’s White House in 2019 and appears in right-wing media such as One America News Network and Newsmax.

The Justice Department said Wead and Foreign National 1 “attended the political fundraising event” for Trump on September 22, 2016 in Philadelphia, and were accompanied by “Foreign National 2”, who worked as a translator for the Russian to English for Wead. The DOJ said, “All three people had photographs taken at the event” with Trump. The future president organized a fundraiser at the Ritz Carlton that day.

After the event, prosecutors said Benton “repeatedly told a consultant working for the” Republican Party “that he had already sent in the promised contribution for the event, but in reality he delayed sending it. of the contribution “.

The DOJ said Benton “finally filled out a donation form, indicated he was the donor and used a personal credit card to make a $ 25,000 contribution,” then “kept the remaining $ 75,000. Foreign National 1 “money. Due to Benton’s straw donation, the DOJ said that “three different political committees unintentionally filed reports with the FEC that incorrectly identified Benton, rather than Foreign National 1, as the source of the funds.”

Benton and Wead were also charged with “one count of contributing from a foreign national, one count of contributing on behalf of another, and three counts of false entry into an official record.”


If found guilty, Benton and Wead face a range of maximum sentences ranging from five to 20 years in prison, per count, the DOJ said.

Prosecutors did not charge either Trump or the Republican Party of knowingly doing wrong or knowing the donation was from a Russian rather than Benton.

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Key words: News, Rand Paul, President Trump, Campaign Finance, Russia Inquiry

Original author: Jerry dunleavy

Original location: GOP activists accused of ‘straw donor’ plot to channel Russian donations in 2016 election

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How To Watch Season 21 Of The Voice Online Without Cable Mon, 20 Sep 2021 00:00:03 +0000

The big red chairs come back to life when you watch The Voice season 21 online, even without cable. The singing competition adds pop star Ariana Grande to the coaches list for the first time. She joins Blake Shelton, John Legend and Kelly Clarkson in the jury. Carson Daly returns as host.

Additionally, the live audience is back for the first time since the start of the pandemic.

The Voice Channel Season 21 start time

Season 21 of The Voice premieres Monday, September 20 at 8 p.m. ET on NBC.