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The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 28, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - The EU is falling behind Britain in tapping into savers' money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany's bourse told Reuters. For Maassen there is an opportunity in Europe to rival US capital markets. Maassen urged policymakers to speed up the implementation of the Capital Markets Union, a longstanding project to create a single market for capital beyond national borders. Earlier this month, European Central Bank President Christine Lagarde called for a capital markets union, with a single supervisor and trading infrastructure, to finance its digitalisation and green transition.

Persons: Stefan Maassen, Jeremy Hunt, Hunt, ThyssenKrupp, Maassen, Germany's, Christine Lagarde, Lagarde, Pablo Mayo Cerqueiro, Anousha Sakoui, Christina Fincher Organizations: REUTERS, Staff, Germany's bourse, Reuters, Capital Markets, Deutsche, Frankfurt Stock Exchange, Schott Pharma, OLB Bank, DKV, New York Stock Exchange, EU, Capital Markets Union, European Union, European Central Bank, ., Thomson Locations: Frankfurt, Germany, EU, Europe, we're, U.S

☆ Britain's Hunt broadens push to unlock pension pots for growth
▼ + stars: | 2023-11-22 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over 30 billion pounds, and by 2040, all local government pension funds will be invested in pools of 200 billion pounds or more," Hunt told parliament. Hunt said such changes could help unlock an extra 75 billion pounds ($93.46 billion) of financing for high growth companies by 2030, and improve returns for pensioners. The British Business Bank will set up a new growth fund for schemes to invest in growth companies, and there will be a consultation on giving the Pension Protection Fund a new role to help consolidate direct benefit schemes, he said. The government also wants to allow certain portions of shares - fractional shares - within ISAs. ($1 = 0.8025 pounds)Reporting by Huw Jones Editing by Frances Kerry and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeremy Hunt, Hannah McKay, Hunt, PIMFA, William Wright, Huw Jones, Frances Kerry, Bernadette Baum Organizations: REUTERS, British, London Stock Exchange's, Aquis Exchange, DC, British Business Bank, Local, ISA, Labour Party, Labour, New, Thomson Locations: London, Britain, New York, ISAs

☆ A group of student-loan borrowers are getting $30 million in debt relief after a tech boot camp offered them 'illegal' payment plans, a federal watchdog says
▼ + stars: | 2023-11-20 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

A group of student-loan borrowers who attended boot camp Prehired are getting $30 million in debt relief. The CFPB sued Prehired over the summer, accusing it of offering "illegal" income-share agreements. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMore student-debt relief is on the way for a group of borrowers who attended a tech boot camp. "Today's action with our state partners ensures that borrowers harmed by Prehired can receive redress and have their illegal loans canceled."

Persons: Prehired, —, Rohit Chopra Organizations: Service, Consumer Financial, Delaware's Justice Department

☆ Mayan Toledano’s vibrant photographs of queer life in Mexico City
▼ + stars: | 2023-11-07 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

Toledano, who is primarily based in New York, found a welcoming second home in Mexico City in 2018 through a circle of queer and trans creatives that expanded with each visit. Jovana, Sheila, Karla and Andrea, 2019 Mayan Toledano“The getting-ready part is sometimes the party,” Toledano explained in a phone interview. In Mexico City, Toledano’s images became a mix of both candid and staged moments. Greta, Aine, Mar and Zury on the Wall at Magia Ilegal, Ixtapaluca Mayan Toledano“That was a moment of stillness. Havi at Home, 2019 Mayan ToledanoAn American friend of Havi’s had helped organize crowdfunding for the surgery, according to Toledano.

Persons: Mayan Toledano, Karla, Toledano, glammed, Karla’s, Jose Cuervo, Sheila, Andrea, ” Toledano, Maria Mariposa, Uma, Ada, Maria Isas, it’s, “, ”, Bella Hadid, Paris Hilton, Maria, Aine, Toledano’s, Havi, Havi’s, ‘, “ Protagonism, ” Havi, ” Seb, Sebastian Organizations: CNN, Nike, Damiani Locations: Mexico City, New York, Mexico, Polanco, Paris, Greta, Zury, ”, “

☆ $3.4 million in student-debt cancellation is on the way for borrowers who went to a for-profit school that 'falsely' touted job placement rates, the FTC says
▼ + stars: | 2023-10-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sollers will cancel $3.4 million in student debt for those who entered income-share agreements. The FTC said the school lied about job placement rates and employer partnerships. "Today's order cancels all income-share agreements issued by the school." This is not the first time a federal agency has raised red flags over income-share agreements. The Consumer Financial Protection Bureau recently sued career bootcamp Prehired, accusing it of misrepresenting the nature of its income-share agreements with students.

Persons: Sollers, —, Joe Biden's, New Jersey —, Samuel Levine, Weill, Weill Cornell Medicine —, Aerotek, bootcamp Prehired, Prehired Organizations: FTC, Service, Federal Trade Commission, Sollers, Consumer, Sollers College, The Federal Trade Commission, Weill Cornell Medicine, Consumer Financial Protection Locations: New Jersey, FTC's, Sollers

☆ 'Girl math' is toxic and it could be holding women back from growing wealth, says a financial specialist
▼ + stars: | 2023-10-18 | by ( Zoe Burt | ) www.businessinsider.com time to read: +7 min

To Burt, the viral TikTok trend #girlmath reiterates the stereotype that women are bad at math. But often it's more overt, as with TikTok's most recent viral trend: "girl math." AdvertisementAdvertisementWhy girl math is a negative trendSeemingly lighthearted, the hashtag plays into a damaging stereotype that women are bad at math. Girl math doubles down on gendering lavish spendingThe #girlmath trend focuses on "feminine" spending habits as lavish — another common stereotype of women and money management. Women's financial literacy is an important issueThe girl-math trend brings women's financial literacy and investing into the limelight.

Persons: Zoe Burt, Burt, —, Caroline Criado Perez, Tamina, Shakuntala Devi, Elon Organizations: Service, Evening, New Zealand, Fiscal Studies, Guardian, Behavior, Organization, Fidelity, Twitter, Invest, deVere Italia

☆ UK's Jeremy Hunt plans ISA overhaul to boost share ownership, Financial Times reports
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

British Chancellor of the Exchequer Jeremy Hunt holds a Ministerial Statement at the House of Commons in London, Britain, June 26, 2023. ISAs enable people to hold savings and investments without paying tax on interest or capital gains. According to the FT report one radical option being considered is an additional ISA allowance for investing in UK companies. Other options being discussed include enabling cash savings and stock market investments to be held within a single ISA, rather than separately as they are now, enabling people to save and invest tax-efficiently, the report said. The UK's Treasury did not immediately respond to a Reuters' request for comment on the report.

Persons: Jeremy Hunt, Jessica Taylor, Handout, Akanksha, Leslie Adler Organizations: Financial Times, Treasury, ISA, Thomson Locations: London, Britain, REUTER, Bengaluru

☆ A federal watchdog is suing a tech boot camp, accusing it of loading students up with 'predatory' debt and telling them it could collect 'more than the consumer legally owed'
▼ + stars: | 2023-07-18 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The CFPB and state attorneys general sued a career boot camp that declared bankruptcy in 2022. Prehired sued nearly 300 former students last year, saying they'd defaulted on their loans. "Prehired also represented that consumers would pay nothing until they got a job and 'partner[ed] with' Prehired in their career. The lawsuit also accused Prehired of "falsely representing the amount of debt owed by consumers by stating that Prehired could collect more than the consumer legally owed." The complaint said Prehired filed more than 280 lawsuits in 2022 demanding that former students who it said had defaulted pay $25,000 each.

Persons: Prehired, they'd, Bob Ferguson, Washingtonians, bootcamps, Ben Kaufman Organizations: Service, Consumer Financial Protection, California's Department of Financial Protection, Innovation, LinkedIn, Delaware's Department of Justice, Washington Attorney General's Locations: Wall, Silicon, Prehired

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