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☆ UK asks court to curb powers of COVID inquiry to see WhatsApp messages
▼ + stars: | 2023-06-30 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, June 30 (Reuters) - British Prime Minister Rishi Sunak's government on Friday asked London's High Court to stop a public inquiry into its handling of the COVID-19 pandemic forcing it to hand over some internal WhatsApp messages. Britain's Cabinet Office refused to provide WhatsApp messages concerning the government's handling of the pandemic and other political issues earlier this month, saying some of the material sought was "unambiguously irrelevant". However, the Cabinet Office has brought a legal challenge over the inquiry's demands, which its lawyer James Eadie told the court was brought "with some considerable reluctance". Eadie added the WhatsApp messages contained references to personal and family information and "comments of a personal nature" about identifiable government figures. But lawyers representing Hallett said the limits the Cabinet Office sought to place on public inquiries' powers to compel the production of documents was "flawed and unworkable".

Persons: Rishi Sunak's, London's, Heather Hallett, Boris Johnson, James Eadie, Eadie, Hallett, Hugo Keith, Johnson, Keith, Mr Johnson, Sam Tobin, Paul Sandle Organizations: British, Thomson

Mindy Yu was raised in Queens, New York, in a working-class family who lived paycheck to paycheck. Pros Check mark icon A check mark. Accounts pay high interest rates Check mark icon A check mark. No fees Check mark icon A check mark. Open accounts you might not be able access outside of Raisin Check mark icon A check mark.

Persons: Mindy Yu, Yu, —, didn't, Roth, It's Organizations: Service, Social Security, Roth IRA, Mint, FDIC, Chevron Locations: Queens , New York, Manhattan's Chinatown

☆ I thought I knew how to handle money as a financial advisor, but a conversation with a 30-year-old millionaire completely changed my mind
▼ + stars: | 2023-06-22 | by ( Kevin L. Matthews Ii | Stephanie Hallett | Read More | ) www.businessinsider.com time to read: +7 min

As a financial advisor, I saw wealthy clients follow the same path to millionaire status. But my strategy changed when I met Grant Sabatier and realized I wasn't enjoying my money the way I wanted to. Spend and enjoy the majority of your money now or delay those luxuries in exchange for a comfortable retirement in the future. He continued telling me that at age 25, he sat down and listed the 10 things that made him happy. I realized that I needed a lot less money than I thought to be happy," said Sabatier.

Persons: Grant Sabatier, —, He'd, Sabatier, I've, Read Organizations: Service, New York City Locations: New, Oklahoma

☆ Britain's Covid inquiry has become a political farce
▼ + stars: | 2023-06-17 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

London CNN —Britain’s Covid inquiry was supposed to give closure to people who lost loved ones in the pandemic. It’s instead become a political circus that could hurt both Boris Johnson and Rishi Sunak. Johnson undercut Sunak by directly handing his own information to the inquiry. This is the committee’s investigation into the infamous Partygate scandal, which led to Johnson being fined by police for breaking Covid rules. Johnson had initially told parliament that all rules were followed at all times.

Persons: Boris Johnson, Rishi Sunak, Johnson, Sunak, Deborah Doyle, ” Boris Johnson, Dan Kitwood, Sunak’s, ” Jack Rodgers, Christina Pagel, Pagel, “, Peter Summers, Lorelei King, ”, Baroness Hallett, ” King Organizations: London CNN, Justice, CNN, University College London’s, Research Unit, Conservative, “ Locations: Sunak, Britain, Covid

☆ I thought I wanted to buy a house, but seeing nearly 80 homes in 9 months convinced me to spend my money on something more important
▼ + stars: | 2023-06-13 | by ( Michelle Chikaonda | Stephanie Hallett | Read More | ) www.businessinsider.com time to read: +6 min

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). I took out a personal loan to consolidate my debt, but didn't plan to pay it off years early. See if you're prequalified for a loan without impacting your credit score »Get the latest tips you need to manage your money — delivered to you biweekly. I realized I could pay off my personal loan long before the term expiredMy late-2020 pause rolled into early 2021, and then solidly into the spring. Next Step: See if you're prequalified for a loan without impacting your credit score »This article was originally published in September 2021.

Persons: — Organizations: Service Locations: Philadelphia, —

☆ Britain's COVID inquiry launches with pledge to put bereaved at its heart
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File PhotoLONDON, June 13 (Reuters) - The chair of Britain's COVID-19 inquiry pledged to put the bereaved and those who suffered at the heart of her work as she began main hearings on Tuesday into how the coronavirus pandemic was handled. Former prime minister Boris Johnson had ordered the inquiry to look into the United Kingdom's preparedness as well as the public health and economic response after Britain recorded one of the world's highest death tolls from COVID. Module one, which is looking into Britain's preparedness for the pandemic, opened on Tuesday. The inquiry has held preliminary hearings, but this week will see the first evidence heard in the inquiry since it was formally launched in June 2022. With a national election expected next year, the detailed examination of decision-making could create political headaches for current Prime Minister Rishi Sunak, who was finance minister during the pandemic.

Persons: Peter Nicholls, Britain's, Boris Johnson, Johnson, Heather Hallett, Rishi Sunak, Alistair Smout, William Maclean Organizations: National, REUTERS, Britain, Thomson Locations: London, Britain, COVID

Compare today's best high-yield savings accounts »Get the latest tips you need to manage your money — delivered to you biweekly. Read More: Earn 4.75% APY with Bask BankFeatured Offer Bask Bank Interest Savings Account Annual Percentage Yield (APY) 4.75% Minimum Deposit Amount $0 Fees no monthly service fee Start savingFeatured Offer Bask Bank Interest Savings Account Annual Percentage Yield (APY) 4.75% Minimum Deposit Amount $0 Fees no monthly service fee View Full Details Start saving Bask Bank, Member FDIC. Bask Bank Interest Savings Account Start saving Bask Bank, Member FDIC. When HYSA rates go downOver the last few years, the interest rate on my high-yield savings account has fluctuated quite a bit. Depending on the interest rates available, I might have more cash in CDs than in my high-yield savings account.

Persons: I've, —, Read, I'm, i'm Organizations: Service, Federal Reserve, Bask, Bask Bank, FDIC, Chevron, Texas Capital Bank, Reading Chevron

With inflation raising the cost of everything, I've been looking for creative ways to save money. Being more mindful of food waste is helping me save money at the grocery store. For the last two months, I've started to brainstorm ways that I can change my habits around the house in order to save $200, or more, every single month. In an effort to lower the bill as much as possible, I've started to get strategic about my habits around the house using advice from my local energy provider. When I switched most of my cleaning products away from well-known brands, my savings started to increase.

Persons: I've, —, Read Organizations: Service, Facebook, Bask, Bask Bank, FDIC, Chevron, Texas Capital Bank, Reading Chevron

☆ A family transformed a 1930s schoolhouse into an adorable cottage with an original cloakroom and chalkboard — see inside
▼ + stars: | 2023-05-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

In 2021, the Hallett family paid $70,000 for a schoolhouse in upstate New York, near the scenic Finger Lakes region. The schoolhouse after its renovation. Livingston Begy for Empire Realty GroupThe schoolhouse is in Springwater, New York, according to the Realtor.com listing and blog post, which is a rural town that's a 45-minute drive south of Rochester and a 90-minute drive southeast of Buffalo.

So I quickly found a W-2 job and qualified, then quit the job months later and went back to freelancing. Why mortgage lenders get skittish around 1099 contractorsIf W-2 employees fit neatly inside the box occupied by typical, salaried employees, 1099 contractors present a bit like wild cards. While the former have signed a contract and work regular hours according to their employer's needs and schedule, the latter function as independent contractors (often called gig workers) who work job to job. The boxy conventions don't stop there: W-2 employees are paid via their employer's payroll, participate in employee benefit programs, and have payroll taxes withheld throughout the year. Rather than strike out, I balked and applied for and took a W-2 job just to qualify to buy my ex out of his half of equity in our family home.

Our experts choose the best products and services to help make smart decisions with your money (here's how). As a child, my grandmother used to give my sister and me a quarter when she came to visit. That rebuke unconsciously taught me I shouldn't ask for money, and it held me back for years. My mother, utterly mortified, sent me to my room with the stern admonishment that asking for money was not polite. I found it was as difficult to accept money as it was to ask for it, especially if it happened to be a gift.

Many people dream of owning a home, but financial planner Nicole Morong believes homeownership is overhyped. Morong encourages people to ask what their true motivations are behind buying a home. Homeownership represents stability, security, and financial success, even though many millennials feel like they'll never reach that milestone. However, financial planner Nicole Morong of Peterkin Financial says buying a home isn't all that it's cracked up to be. It's better financially to invest that money [that I'm saving from renting] than to buy a house."

I started my SEP IRA at 30, but I wondered if there were other, nontraditional options for retirement. I asked financial planners how their millionaire clients saved. I'm happy to be saving for retirement now, but I still wonder if I could retire comfortably without saving into a traditional retirement account. To find out, I asked financial experts if any of their millionaire clients had retired without traditional retirement funds. They didn't take on debtIt turns out you can retire as a millionaire without robust traditional retirement funds.

Ramsey's listeners call in and, after describing how they paid off their debt by following Ramsey's advice, scream, "WE'RE DEBT-FREE." With a non-existent credit score, I couldn't even get approved for a normal credit card. One family member mentioned that Ramsey's advice is to save longer and pay for a house in cash. Meanwhile, he stigmatizes legitimate paths forward, such as having a credit score built on years of responsible credit use. In my own journey to buy a home, I saw clearly that Ramsey's advice is not given with my circumstances — or my success — in mind.

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). Typically, the best personal loans are:Unsecured, ANDFor loan amounts over $1,000, ANDFor repayment terms longer than two yearsHowever, depending on your circumstances and financial needs, you may want to consider a less common type of personal loan. For example, if your application for an unsecured loan is denied, you may still be able to get a secured personal loan. It's not just as simple as picking the loan with the best personal loan rate. If you do decide that a personal loan is your best option, it's important to be patient during the shopping process.

March 18 (Reuters) - UBS Group AG (UBSG.S) is seeking government guarantees of about $6 billion for a potential takeover of Credit Suisse Group AG (CSGN.S), a person with knowledge of the discussions told Reuters on Saturday. The guarantees would cover the cost of winding down parts of Credit Suisse and potential litigation charges, the source said. Credit Suisse was valued at the equivalent of about $8 billion at the close on Friday. Deutsche Bank AG is also interested in acquiring parts of Credit Suisse, the first source said. Bloomberg earlier reported the German lender's interest in parts of Credit Suisse.

At the Fontainebleau hotel, Credit Suisse bankers were puzzled by the announcements, and concerned about their jobs being on the line, said the executive, who declined to be named. In response to questions from Reuters for this article, a spokesperson for Credit Suisse in London said: "We never comment on rumours or speculation." 'A ROCK AND A HARD PLACE'Even after Credit Suisse stopped financing hedge funds following the Archegos implosion in March 2021, the equities business remained a key part of its investment bank revenue. One option Credit Suisse is considering is to move its equities research to CSFB, Reuters reported. Slimming down the equities business would draw a further line under Credit Suisse's investment bank ambitions.

For the fourth quarter, Switzerland's second-biggest bank posted a net loss of 1.39 billion francs. That brought its total net loss in 2022 to 7.29 billion francs, marking its second straight year in the red. The bank, however, completed a 4 billion Swiss franc fundraising in December and said liquidity levels had been boosted. Chief Executive Ulrich Koerner said last month that Credit Suisse was "seeing money now coming back in different parts of the firm." "We have a clear plan to create a new Credit Suisse and intend to continue to deliver on our three-year strategic transformation," Koerner said on Thursday.

Many in the art and insurance world, however, say it may be only be a matter of time before art works are vandalised, especially if protests spread beyond climate activism. The art insurance market globally earns around $750 million in premiums. PRESSURE ON PREMIUMSLosses and levels of insurance availability tend to dictate insurance premiums. Commercial museums and galleries, however, buy art insurance, and its use is also more prevalent among larger museums in the United States than in Europe. While five insurers contacted by Reuters said they were not yet factoring climate attacks into premiums, some artists say they already face increased costs.

kieferpix/Getty ImagesHere's what: I had life insurance when I needed it mostI was about 40 hours into labor with my son when I spiked a really high fever. My $250,000, 20-year term life insurance policy, from Bestow, costs me $16.25 a month. These days, I preach the gospel of life insurance to anyone who will listen. For others, permanent life insurance is a better option. Whatever your situation, life insurance is a good idea for most people.

☆ Goldman Sachs just dropped the names of its biggest partner class since David Solomon took over as CEO. See the full list here.
▼ + stars: | 2022-11-09 | by ( Emmalyse Brownstein | Dakin Campbell | Alex Morrell | ) www.businessinsider.com time to read: +4 min

David Solomon had been shrinking the size of Goldman's partner ranks to make it more exclusive. On Wednesday, the firm named 80 new partners, its largest class since Solomon became CEO in 2018. Goldman Sachs promoted 80 people to partner status on Wednesday, marking the largest class since David Solomon took over as CEO in 2018. Goldman's partner class has been steadily shrinking since David Solomon took over as CEO in 2018. Last year, Goldman gave its roughly 400 partners special one-time payments that added millions of dollars to their already generous year-end bonuses.

Welcome to Personal Finance Insider, a biweekly newsletter that connects you with the stories, strategies, and tips you need to be better with money. Ditto her regular savings account. It's a good investment, to be sure, but it's not exactly fulfilling my urges as a Personal Finance Person®. Instead of giving physical birthday and Christmas gifts, Cappolla's uncle had been putting small sums — $25 to $100 — into a savings account. If you've never read an issue of Personal Finance Insider's For Love & Money column, last week's is a good place to start.

Apply for student-loan forgiveness ASAP. Spencer Platt/GettyHere's what: The student-loan forgiveness application is liveAfter lawsuits, and beta testing, and much hand-wringing, the Biden administration's student-loan forgiveness application is live and available to federal borrowers. All this to say: Student-loan forgiveness is complicated, and there's a possibility it could remain complicated for a while. Biden's student-loan forgiveness plan could lower my monthly payment from $370 to $150. All your questions about applying for student-loan forgiveness answeredStill have questions about forgiveness?

For years, the LGBTQ+ community has had to focus more on survival than wealth-building. Why we need to build wealth in the LGBTQ+ communityIf you hear words like "wealth" and "investing" and cringe, you're not alone. Here's one: Wealth in our culture means security and power, and the LGBTQ+ community can wield those to make a difference. Here are some tips for building wealth within the LGBTQ+ community. Search for fee-only, fiduciary advisors in your ZIP code, and filter for terms like "LGBTQ family."

☆ Dave Ramsey's money advice served my family well, but I finally had to ignore it to take control of my finances
▼ + stars: | 2022-10-04 | by ( Kara Detwiller | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Growing up, Dave Ramsey's financial advice helped my parents get out of debt. He especially warns people about the evils of auto loans and credit card debt. I also felt I was losing out on potential credit card perks like rewards points, airline miles, and cash back. I'm using my credit card responsibly and racking up rewardsI have been using my credit card for several months now, and I'm very happy with it.

Persons: Dave, —, Dave Ramsey's, Ramsey, I'm Organizations: Business Insider, U.S, Service, Dave Ramsey's Financial Peace, US Bank, Financial Peace University Locations: USA, Canada

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