Category Archives: Financial Information

Financial Information

Dr. Elizabeth Mays Has Been Named One Of The 25 Women To Watch For 2009 By U.S Banker Magazine

Dr. Elizabeth Mays has been named one of the 25 Women to Watch for 2009 by U.S Banker magazine. The list contains some of the banking industry’s most accomplished women and is compiled annually. Over 5,000 female banking executives were nominated this year.

Mays is located in Columbus, Ohio where she is a Senior Vice President and the Head of Consumer Risk Modeling and Analytics for JP Morgan Chase, part of the Risk Management organization.

The criteria used to select the 25 Women to Watch include their impact on their bank’s financial performance and the nominee’s industry, personal, and community impact. In conjunction with the publication of U.S. Banker magazine’s October issue highlighting the women selected this year, an awards ceremony will be held at The Plaza hotel in New York on October 6th.

Mays has spent 24 years in the financial services sector, first as a government economist and savings and loan regulator in Washington DC, and later in executive positions in the banking industry. She is also an author of four books on risk measurement and writes articles on corporate governance and risk management topics. A busy executive and mother, U.S. Banker magazine noted that parts of her last book were written “f r o m a booth at Chuck E. Cheese” while her young son played games.

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Majority Of Over 50s Unaware Of October ISA Limit Increases

Lloyds TSB has revealed new research that shows two thirds (61 per cent) of over 50s do not understand the approaching ISA changes which will enable more than 21 million savers to benefit from an increased tax free savings allowance.

As part of this year’s budget, the Chancellor announced that the total ISA limits would increase from £7,200 to £10,200, £5,100 of which can be saved in cash. For those born on or before 5th April 1960 the new limits come into effect on October 6th, whilst younger customers will need to wait until the start of the 2010/2011 tax year next April.

Despite the imminent changes, the findings show that just 15 per cent of over 50s know that the new ISA limit will be set at £10,200. Four out of ten over 50s are not even aware that increases have been announced.

Lloyds Banking Group customers can take full advantage of the increased limits, as the Group has confirmed that all of its ISA products will accept top ups when the new rules come into effect on 6th October.

Colin Walsh, managing director of savings and investment, Lloyds Banking Group commented: “As the UK’s largest ISA provider, we want our customers to be able to reap the benefits of the new rules and make use of their entitlement. This historic low rate environment has meant a challenging time for savers, especially for those who rely on returns to supplement their monthly income, so maximising your full tax free allowance has never been more important.”

Savers will be able to top up their existing ISA balance in any of the Group’s fixed and variable rate cash ISAs, as well as investment ISA products. New customers can also take advantage of the new entitlement and open one of the competitive products offered by the Group’s ISA brands, which include Halifax, Lloyds TSB, Scottish Widows, Bank of Scotland, Cheltenham & Gloucester, Birmingham Midshires and Intelligent Finance.

Colin Walsh continued: “Traditionally the ISA transfer market peaks in April around the new tax year, but this year’s changes will no doubt result in a ‘mini ISA season’ as savers look to take advantage of competitive rates on an increased balance.”

Earlier this year, Lloyds Banking Group announced its participation in electronic transfers for the cash ISA market, allowing customers to benefit from a more efficient process and reducing the delays caused by sending cheques in the post.

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The Most Popular Baby Names In The UK Revealed By The Children’s Mutual

According to research by The Children’s Mutual, leading Child Trust Fund (CTF) provider, Jack and Olivia have maintained their position as the most popular baby names in the UK for a second year.

Jack leads the pack at the head of the Top 10 boys’ names, which have remained the same for the past two years. However, a review of almost 150,000 new CTF account holder names revealed that the girls’ names are more imaginative, varied and less traditional than the boys’ names.

With newcomers Amelia and Evie entering the list this year, the Top 10 girls’ names has had new entrants for the last three years despite Olivia clinching the top spot for the last two. Ava, Freya and Isabelle have entered the Top 20 for the first time. However in contrast, there have been falls for Grace, Lucy, Katie and Megan during 2009.

Within the top boys’ names there are some signs of influence from celebrity names, with Lewis racing into the Top 20 and both princes’ names, William and Harry, staying in the Top 10. Harry Potter also appears to have had some influence, with Harry and leading actor Daniel Radcliffe’s first name both having moved up the chart.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “We’ve had lots of new children on our books in the past 12 months, with almost 150,000 new accounts opened, and it’s always interesting to see how the trends in babies names change each year. We realise that choosing a name can be daunting for parents as they want to give their child the best start in life.

“As well as the choice of name, parents should also be considering their child’s future and how they plan to save for important milestones such as university or a first car. If parents top up their child’s CTF monthly by £24 – the average amount saved by customers – these 2009 babies could receive a lump sum of over £9,750 when they reach 18.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible child (born on or after 1 September 2002) receives a £250 (£500 for low income families) Child Trust Fund voucher from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and potentially a third in the child’s teenage years.

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How To Lower Your Insurance Premiums During the Recession

During a recession, such as we are currently experiencing, it is essential that all businesses should reduce their expenditure wherever possible. It is a simple fact to understand that when income falls, expenditure must also be reduced in order to balance the books. When businesses have completed their cost-cutting exercises in the obvious areas, such as payroll and suppliers, they look to make savings in the peripheral areas of expenditure- such as insurance.

All businesses are required to hold insurance cover to a greater or lesser extent, be it material damage, goods in transit or the legally unavoidable road risk cover and employers liability insurance. Staveley Head, one of the UK’s leading motor trade insurance providers, has some important advice for those looking to reduce their insurance premiums. A spokesman said “Many people will opt for policies which are cheaper because the additional benefits such as windscreen cover or a courtesy vehicle in the event of an accident have been excluded from the policy. This can prove a false economy as the reduction in premium will only be marginal, and those benefits can prove very worthwhile if and when needed. It is far more effective to look at areas we tend to take for granted. Many policyholders request any driver cover because once in a blue moon, due to illness or holidays perhaps, someone else will be required to drive their vehicle. This is a very costly way of covering that eventuality. It is far cheaper to name on the policy the drivers you think you may need, and even cheaper again if it is your spouse or partner.”

The Staveley Head representative went on to say “It is also worthwhile considering an additional voluntary excess on the policy, certainly for careful and claim-free drivers. If you divide the amount of the voluntary excess by the number of years since your last claim and compare that to the annual saving in premium it should give you an indication of the overall economy of increasing your excess. Keeping your vehicle overnight in a garage or secure compound or driveway will also reduce your premium. A low annual mileage will also produce a lower premium. The annual average is between ten and twelve thousand miles, but if you only cover five thousand miles a year tell your insurer. Less miles means less risk for your insurer and consequently less premium. There is a number of ways that premiums can be reduced without losing any benefit in cover, and Staveley Head will be delighted to assist and advise anyone if they contact us on our website at www.staveleyhead.co.uk or telephone us on 0845 017 9991.”

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Three Unsecured Personal Loan Providers Have Implemented Rate Hikes Of Up To 1.2% For New Customers

This product ‘tweak’, although seemingly small, could cost personal loan customers an extra GBP322 in interest paid on a typical loan of GBP10,000. With UK consumers currently forking out GBP181 million in interest daily, this will only add to an already hefty bill.

As consumers struggle to manage their debts in the current climate, their chances of consolidating to a low cost loan have also been vastly reduced compared to this time last year. There are currently 36 personal loans available to consumers, this is compared to 57 loans that were available this time last year, a drop of 37%. At the same time, the average loan rate has increased from 9.04% to 9.08% in the last year.

Providers that have increased rates since the start of September include:

1. Marks and Spencer Money – selected rates increased by 1.2%

2. Egg – GBP3,000 to GBP20,000 increased by 1% to 14.9%

3. Alliance & Leicester – GBP5,000 to GBP7,499 increased by 0.1% to 8.9% and GBP7,500 to GBP15,000 increased by 0.8% to 8.7%

However, it seems the trend for offering the best deals to “brand new customers only” does not currently extend to the unsecured personal loans market, with the best deals currently being offered to existing customers. The average interest rate in the Best Buy table for existing customers is currently 7.94%, with Nationwide topping the table with its Existing Customer Personal Loan Plan at 7.7%. However, new customers can expect to be hit with an average interest rate for a Best Buy loan of 8.08%, 0.14% higher.

Louise Bond, personal finance expert at uSwitch.com, comments: “As consumers struggle to make ends meet and manage their finances, loan providers are looking to offer the best rates to those who financial behaviour they can closely inspect – which are their existing customers.

“Last year 1.3 million consumers used an unsecured personal loan for debt consolidation purposes. However, with the number of personal loans available dropping by 37% this year and rejection running high, it would be highly unlikely that a similar number of consumers would be able to consolidate their debts this year. However, for those that are thinking about or attempting to do this, it would definitely be worthwhile finding out what rates existing providers can offer, as it seems loyalty is one of the only aspects that could win consumers better interest rates at the moment.”

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One In Five Stock Market Investors Never Check Share Performance

Prudential has revealed that over one in five (22 per cent) of UK stock market investors never check the performance of their shares. Furthermore, it has been revealed that 65% of investors don’t seek any professional advice prior to investing.

The findings, f r o m new research conducted for Prudential, found that 36 per cent of UK adults aged 18+, equivalent to 17.23 million people, have invested in the stock market over the past 10 years. However, more than half (53 per cent) of these investors admit they only check share performance every six months or less frequently, with one in five (20 per cent) saying they only review their stock performance once a year and 22 per cent admitting they never do.

When it comes to gaining advice on where the best place is to invest their savings, UK adults appear to be equally apathetic with around two thirds of investors (65 per cent) saying they rely on internet searches or media reports when selecting which shares or investment fund to buy with just 16 per cent seeing an independent financial adviser, four per cent consulting a stockbroker and 10 per cent gained advice f r o m bank or building society staff.

However, while many stock market investors fail to adequately monitor share performance or gain financial advice on how to invest, they are at least exposing themselves to an asset class which has historically shown some of the strongest growth. This sits in stark contrast to the rest of the population with around 30 million UK adults (64 per cent) having made no stock market-based investments in the past ten years.

Trevor Cheal, Retirement Savings Business Director, Prudential said: “While not everyone is fortunate enough to have spare funds to save or invest, many people do and it is staggering how few are seeking financial advice or looking to capitalise on the growth potential that the stock market has historically offered.

“Those who invest in the stock market have taken the first important step towards benefiting f r o m the long-term growth of the economy, but they stand a greater chance of maximising its value if they re-evaluate their investment arrangements regularly. However, in volatile markets, investors may not want all their eggs in one basket and multi-asset funds which provide diversification can give them some degree of comfort while still having exposure to the stock market. Those who feel they lack the knowledge to manage a diversified portfolio should consider getting professional financial advice f r o m a stockbroker or an IFA.”

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Let The Competition For The Safest Home Begin!

The winning prize? The lowest home owners insurance rates around. According to a recently published article on InsuranceAgents.com, homeowners looking to save on their insurance should first assess their home to make sure it doesn’t pose any threats.

“Nobody likes a surprise that results in having to spend more than they were expecting,” the article, Home Owners Insurance: Assess Your Risk, states. “If you honestly assess your home and the risk that it represents to your insurer then you will be able to take the proper measures in lowering your risk, thus lowering your home owners insurance.”

Factors of a home, such as its age or the neighborhood it’s located in, can cause a homeowner’s rates to either increase or decrease. The age of a home affects rates because the older the home is, the more likely the home’s materials, foundation, and wiring and heating systems are not up to current building codes, making it more vulnerable to external damage. “Newer homes are more attractive to insurance companies because they were built with modern materials are generally more resilient to damage,” the article emphasizes. The neighborhood around the home is an integral factor as well.

“The crime rate of the neighborhood you live in is an important factor in the mind of your insurer,” the article describes. “If it isn’t the best then you can buffer your situation by taking measures to secure your house with deadbolt locks, motion sensor lights, and a security system.”

Although a homeowner might believe their home is safe, an inspector might think otherwise. Taking the necessary measures to fully assess a home can prevent home owners insurance rates from skyrocketing. Nobody likes to pay more than they have to, so contact a home insurance agent today to inquire about other steps that can be taken to ensure the lowest homeowners insurance quotes around. Visit InsuranceAgents.com for expert articles and Hinsurance quotes from up to five local agents.

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How Underwriters Shape Insurance Quotes

Not many people know that all the factors that go into determining how high or low insurance quotes will be are determined by underwriters. Although they’re aided by a computer program, underwriters must analyze all applications the insurance company they work for and determine whether the applicant will yield high quotes, low quotes, or is just altogether uninsurable.

According to an article recently published on InsuranceAgents.com, underwriters are the life force of any insurance company. “Their opinions play an integral role in the success of a company because if an underwriter is too conservative, the company will most likely lose customers to competitors,” states the article, titled ‘Understanding the Significance of Underwriters. “On the other hand, if an underwriter makes too liberal of decisions, the company will have to pay an excessive amount in claims.”

Underwriters don’t do it alone though. They are placed with the huge burden of keeping the insurance company they work for afloat and have the assistance of computer applications to determine how to manage risk more efficiently. With the help of the program, underwriters determine how risky the applicants are and can thus determine how high or low their quotes will be or if they are just too risky to insure.

It is important to know what factors go into determining risk. Whether it is auto, health, home, or life insurance, there are a different set of factors for each type of insurance. “As an individual looking to obtain an insurance policy, it is imperative you familiarize yourself with some of the factors that underwriters use to judge potential policyholders before applying,” the InsuranceAgents.com article states.

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Accidental Death Life Insurance

Death is one of the most unpredictable aspects of life so it should be no surprise that the insurance industry have formulated a special kind of life insurance known as accidental death life insurance. According to an article recently published on InsuranceAgents.com, accidental death life insurance provides coverage in the event of a sudden accidental death.

The article, titled ‘Accidental Death Life Insurance: Stare Death in the Eyes’ states, “Illnesses, accidents and sudden deaths occur everyday, leaving families with only memories. On top of the mourning, they also have to deal with high death expenses. Accidental death life insurance, however, can take care of that.”

Your typical accidental death life insurance policy should cover accidental/sudden death, illness, and loss of bodily functions such as hearing and sight.

Visit InsuranceAgents.com to compare life insurance rates based on your lifestyle and speak with a life insurance agent about what this specific type of life insurance has to offer you and your loved ones.

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According To The Prudential’s Equity Release Index, Homeowners In England And Wales Own £654 Billion Property Equity

According to the Prudential’s Equity Release Index, Homeowners in England and Wales aged 65 and over have retained £611billion of equity in their property – with a further £43bn held in Scotland – as the housing market begins to show signs of stabilising following two years of decline.

Prudential’s Equity Release index tracks the amount of equity held in property by people over 65 years old in England and Wales. Figures are based on Prudential’s analysis of data from the ONS Family Spending Report (2006), the Land Registry House Price Index (August 2008) and GfK NOP (2007). Specifically, weighted number of households data is taken from the ONS Family Spending Report 2006. Home ownership data is taken from the NOP data. Average house price per region is taken from the Land Registry Index.

The Index also shows modest gains for homeowners aged over 65 in Wales, the West Midlands, London and the North West.

In Wales, the over-65s saw values rise by £3448, followed by London’s over-65s who gained £3296, while in the West Midlands retired homeowners gained £2789 and the North West saw increases of £818.

Homeowners in Scotland aged 65 and over have retained £43billion of property equity and saw modest gains in the second quarter of 2009, with an average increase in property values of £5235 since March, although the total value of property equity for the over-65s is still more than £3 billion lower than it was a year ago.

The Prudential Equity Release Index shows that, in the second quarter of 2009, Scottish over-65s saw the value of the equity in their homes increase by 3.7%. Over the same period, the equity in homes owned by over-65s in England and Wales remained almost level, decreasing by just 0.03%.

The picture across England and Wales as a whole is one of stabilisation, with property equity for the over-65s falling by less than £43 since February – the lowest fall recorded by the Prudential Equity release Index.

The recent fall of just £43 contrasts sharply with the period between October 2008 and February 2009 when property equity in England and Wales for homeowners aged 65 and above dropped by an average of £21,377.

Property equity can provide a valuable source of retirement funds, especially against a backdrop of low interest rates and equity price falls in the past two years which have hit pensioners’ non pension savings.

About Prudential
“Prudential” is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group, which between them provide a range of financial products including life assurance, equity release, annuities (including an income drawdown option), pension plan options and investment products like the unit trust and tools, such as the tax calculator. Registered Office at Laurence Pountney Hill, London EC4R 0HH. Registered number 15454.

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Eight Million Chip And PIN Pals At Risk Of ID Fraud

New research from LV= home insurance has revealed that in the past 12 months, more than eight million adults have given their chip and PIN details to someone else to make a purchase on their behalf or get money from a cash machine for them – with a quarter (24%) of these falling victim to fraud. One in three Brits (34%) say they have been asked to pay for goods or take money out on someone else’s behalf.

According to the research, 20% of card holders have given out their card and pin number to someone else. 85% of these have done so in the past year. According to the Office of National Statistics, the resident population of the UK is 52,042,000. Therefore 52,042,000 x 0.20 = 10,408,400 and 10,408,400 x 0.85 = 8,847,140.

Experts warn that by sharing PIN numbers with others, card users are exposing themselves to fraud and seriously weakening the security of the chip and PIN system.

Businesses themselves need to pay closer attention as 98% of people who have used someone else’s card said they were not caught, leaving retailers open to being targeted by fraudsters.

To help assist the growing number of people affected by ID fraud, LV=’s home insurance policy now includes free access to an Identity Fraud Helpline, staffed by specially trained expert advisors who will explain what to do if you think you may have been a victim of identity fraud.

ID fraudsters can quickly clock up many thousands of pounds of purchases by cloning a card and banks may refuse any kind of refund if the card owner has shared their PIN with others.

This is because in the event of ID fraud, card users sharing details may be considered to have acted ‘without reasonable care’ by banks who will then refuse to pay out to cover stolen funds.

The most common location for ‘borrowed’ cards to be used is at a cash machine. For those people passing on their card details for someone to buy something on their behalf almost one in ten (9%) have told someone the details over the phone, 7% have written them down, 6% have given them face to face in a public place and a few have even sent the details to someone in an e-mail or text message.

John O’Roarke, managing director of LV= home insurance, said: “It’s concerning to see the numbers of card-holders who are so lax with their card details, even if they are sharing them with their friends and family. We would strongly urge all card-users not to tell anyone their PIN number. Not only does it undermine the security of your account and increases the risk of ID fraud but also card holders could end up out of pocket if they are found to have shared their card details.

“We’d urge any customers who think they might have become a victim of identity fraud, to call our Identity Fraud Helpline for help and support.”

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Guide to Home Insurance Deductibles

When choosing a home insurance deductible, many homeowners fall into the trap of wanting to secure the lowest of the low homeowners insurance quotes. This is all good and well but if you make the mistake of making your home insurance deductible too high then you risk financial devastation should you ever have to file a claim.

According to an article recently published on InsuranceAgents.com, the key is to achieve a balance between your home insurance deductible and your homeowners insurance rates. The best way to find affordable policies, deductibles, and rates is to go online to compare homeowners insurance quotes.

The article, titled ‘Choosing Your Home Insurance Deductible’ states, “The higher the home insurance deductible, the more affordable your home insurance rates will be. However, the reverse is true as well: the lower your home insurance deductible is, the more expensive your premium will be,” informs the article. “Before assigning a home insurance deductible to your policy, you should first evaluate your budget.”

If you want to learn more about your home insurance deductible then don’t hesitate a second longer. Visit InsuranceAgents.com today to talk with an insurance agent about finding the right balance between your home insurance deductible and premium.

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Report Says The Recession Will Have A Positive Impact On The Savings Habits Of Today’s Seven Year Olds

The Children’s Mutual’s ‘Turning Seven’ report has revealed that the recession will have a positive impact on the savings habits of today’s seven year olds. According to the leading Child Trust Fund provider, the current recession is developing a younger generation with a more responsible attitude towards money – the likes of which has not been seen since the end of the Second World War.

‘Turning Seven’, which delves into the financial attitudes of seven year olds and their parents, found that two thirds of parents polled insisted that their seven year old children were better informed about finances than they were at the same age. 47% also revealed their seven year olds have already saved up money for something specific, such as a computer game. The report highlights that the current generation of seven year olds will be much more pragmatic about money.

Two thirds of parents feel that their seven year olds now understand that money ‘does not grow on trees’ and are optimistic that the economic hardship currently being experienced is a positive for their children, with a third of parents believing it will make their child more astute and responsible with money. Indeed, 83% of UK parents now insist that their children ‘earn’ their pocket money.

David White, Chief Executive of The Children’s Mutual, said: “We are all acutely aware that the recession has put many people in difficult financial situations, but what is surprising is that there has been a positive impact through prompting reflection and encouraging a change in attitude and behaviour. We know that many families are feeling the squeeze, but encouragingly, our report demonstrates that parents and children are creating a ‘positive austerity’ and are using the downturn as an opportunity to educate their children about the value of money which ultimately could alter savings habits in the UK f r o m the ground up.”

The ‘Turning Seven’ report has been released today to coincide with the oldest members of the Child Trust Fund Generation turning seven, and as a result receiving an additional £250 top up payment f r o m the Government into their CTFs.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a £250 (£500 for low income families) Child Trust Fund voucher f r o m the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Commonwealth Capital Advisors Joins More Than 650 Organizations In The United States To Educate And Inspire The Next Generation Of Entrepreneurs Nov. 16 – 22

This November, young people around the globe will get together to change the world. To celebrate the vital role entrepreneurs play in innovation, job creation and economic recovery, Commonwealth Capital Advisors is participating in Global Entrepreneurship Week on Nov. 16 – 22, 2009 to inspire, connect, mentor and engage young people.

Commonwealth Capital Advisors, an 11 year old American investment banking advisory firm serving entrepreneurs worldwide, will give away 1 million e-books explaining to aspiring entrepreneurs how to raise enough capital to start a business. It is the only resource available online that shows Entrepreneurs the whole process so they can successfully get the capital they need without wasting time or money where others fail.

Co-founded in 2008 by the Ewing Marion Kauffman Foundation in the United States and Make Your Mark, a business-led government-backed campaign in the United Kingdom, Global Entrepreneurship Week will connect young people through local, national and global activities designed to help them explore their potential as self-starters and innovators. Students, educators, entrepreneurs, business leaders, employees, non-profit leaders, government officials and others will participate in a host of activities that include virtual and face-to-face events, large-scale competitions and intimate networking gatherings.

In 2009, the Week is estimated to exceed the 3 million people and 8,800 organizations around the globe that participated in the inaugural Global Entrepreneurship Week in 2008. Already, more than 650 organizations in more than 80 countries have signed up.

“Our primary purpose is to increase every entrepreneur’s probability of raising substantial amounts of capital to the highest degree possible at a mere fraction of the traditional cost without giving up any permanent equity or management control.” Timothy D. Hogan, Chairman & CEO, Commonwealth Capital Advisors.

“The world knows that entrepreneurship is the key to economic recovery, and the next generation of innovators holds that key,” said Carl Schramm, president and CEO of the Kauffman Foundation. “Now more than ever, we need to unleash the creativity and ingenuity of our youth by engaging them in the endless possibilities of entrepreneurship.”

Details

You can get started by reading the abridged version of the e-book “The Secrets of Wall Street – Raising Capital for Start-Up and Early Stage Companies” the most comprehensive guide to the world of raising capital. To download your personal copy, visit www.CommonwealthCapital.com and enter promotional code gew.

CCA has become the advocate for the entrepreneur by specializing in assisting start-up and early-stage companies raise seed, development and expansion capital through the issuance of securities. They have taken one of the most complex, arduous and expensive processes and reduced it to a simple, easy and inexpensive system. The amounts can range from $100,000 to $50 million for operating companies and up to $500 million for REITs, Film Production Companies, Oil & Gas projects or other Investment Funds. CCA has invested hundreds of thousands of dollars in the legal, accounting and investment banking work product, just to license it to its users and to enable them to have a shot at their dream.

About Global Entrepreneurship Week
With the goal to inspire young people to embrace innovation, imagination and creativity, Global Entrepreneurship Week will encourage youth to think big, turn their ideas into reality, and make their mark. From Nov. 16-22, 2009, millions of young people around the world will join a growing movement to generate new ideas and seek better ways of doing things. Tens of thousands of activities are being planned in dozens of countries. Global Entrepreneurship Week is founded by the Ewing Marion Kauffman Foundation and the Make Your Mark campaign. For more information, visit www.unleashingideas.org, and follow @unleashingideas on Twitter.

Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people’s eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. It also works to prepare students to be innovators, entrepreneurs and skilled workers in the 21st century economy through initiatives designed to improve learning in math, engineering, science and technology. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit www.kauffman.org, and follow @kauffmanfdn on Twitter.

Make Your Mark
Make Your Mark is the campaign to give young people in the UK the confidence, skills and ambition to be enterprising – to have ideas and make them happen. Run by Enterprise Insight, which was founded by the four leading UK business membership organisations – the British Chambers of Commerce, the CBI, the Federation of Small Businesses and the Institute of Directors. Their Director-Generals sit on our board, which is chaired by entrepreneur Peter Jones, from BBC’s Dragon’s Den. It is supported by the Department for Business, Innovation and Skills and endorsed by the Prime Minister, Gordon Brown.

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UK Workers In State Of Pension Inertia

New research f r o m Prudential shows that nearly a third (30%) of Britain’s 8.8 million active occupational pension scheme members pay no attention to how their retirement savings are invested and 29% – more than 2.5 million scheme members – have never reviewed how their chosen pension fund is performing.

The pension provider’s study also shows that 48% of workers aged 25+ have their money invested in the ‘default’ fund of their company pension scheme.

Pension savers are failing to take an active role in managing their assets to produce the best possible retirement income. Around 29% admit they have never reviewed the progress of their selected pension funds.

Prudential warns that workers who do not regularly review the progress of their pension fund to deliver asset growth, or simply select the default fund offered by their employer without studying any other options available to them or seeking advice, could then risk limiting the value of their pension pot at retirement.

Andy Brown, director of investment funds at Prudential, said: “It’s worrying that so many people who pay into a company pension scheme appear to be in this state of inertia and aren’t taking an active role in the management of their pension savings.

“You routinely check your savings, utilities, insurance cover, mobile phone contract and broadband arrangements to make sure you’re getting the best f r o m them, and checking the performance of your pension should be no different.”

Prudential urges workers who have not reviewed their pension investments, especially during the stock market turbulence of the past two years, to review them now as a priority to ensure they are correctly positioned to take advantage of any market upturn.

Many pension scheme members are doing virtually nothing to ensure their pension funds are invested in the best place to maximise growth and maintain the right balance to protect fund values in the last few years before retirement.

When it comes to paying more money into company pension schemes, Prudential’s research found that 37% of people with a defined contribution pension have either made Additional Voluntary Contributions to their pension fund or increased the amount they pay in.

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NS&I Finds The Luckiest Premium Bonds Regions

NS&I has released a list of the luckiest regions for winning Premium Bonds prizes showing that those firstly in the South West, and then in the East Midlands, win more Premium Bonds prizes of £1000 or more, than the rest of the UK. Ranking as third luckiest was Wales, while the North East of England emerged as the least lucky of all the regions.

Sally Swait, Premium Bonds manager at NS&I, commented: “Each month ERNIE randomly generates the winning Premium Bonds numbers from his home in Blackpool, where all eligible Bonds – regardless of their age – have an equal chance of winning.

“The last year has seen the South West region receive the greatest luck in having their numbers come up, though all other regions were not without their own significant wins. As the numbers are generated randomly each month, we may very well see a change in the rankings of the luckiest regions in the UK next year.”

NS&I also discovered that there are currently more than 599,000 unclaimed Premium Bonds prizes across the UK, worth over £35 million.

The good news is that there is no time limit for claiming prizes. Premium Bonds results can be found by using the Premium Bonds draw prize checker or writing in to NS&I.

Premium Bonds are an investment where, instead of interest payments, investors have the chance to win tax-free prizes. They were officially launched by Harold Macmillan, Chancellor of the Exchequer, in his 1956 budget.

At the end of June 2009, more than 23 million people had a total of over £40 billion invested in Premium Bonds. There are currently more than one million tax-free prizes from £25 to £1 million being won each month.

Calculations for the luckiest regions data is based on the total value of prizes (£1000 and more) won by counties with at least 100,000 Premium Bond holdings. Information is for the period July 2008 – June 2009.

The current Premium Bonds prize fund rate is 1.0% tax-free. The current odds of each £1 Bond number winning any prize are 36,000 to 1, so with average luck, an investor with £30,000 in Premium Bonds could win 10 tax-free prizes a year.

All Premium Bonds prizes are free of UK Income Tax and Capital Gains Tax!

Via EPR Network
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Health Initiatives Gaining Momentum With UK Firms, Report Says

PruHealth, private medical insurer, has revealed as part of its new Workplace Health Report into the impact of health and wellbeing measures and culture in the workplace, that 89% of larger firms in the UK and 33% of SMEs offer health incentives for their employees.

Senior executives (75% of larger firms and 55% of SMEs) believe fostering a healthy lifestyle in the workplace is part of their role as a responsible employer. Furthermore, 83% of employees stated that an employer’s attitudes to health and wellbeing are an important factor when looking for a new role, which means providing a health and wellbeing programme has never been more important to help attract and retain quality.

Firms also believe health initiatives can help increase staff morale, improve productivity and reduce absenteeism as a ‘halo’ effect of a healthier workforce. Additionally benefits of encouraging a healthy culture in the workplace are also evident, with 51% of larger firms and 38% of SMEs experiencing a drop in absenteeism since introducing wellbeing initiatives.

With sickness and absence costing UK plc £20 billion a year larger firms with over 250 employees are actively encouraging a healthier and happier workforce as part of their responsibility as employers. As well as introducing initiatives, 81% of senior management are leading by example and engaging in healthy behaviour in the workplace, like sponsoring employees’ charity fun runs (55%), taking part in exercise classes and sports teams at work (49%) or eating healthily in the office (35%).

With economies of scale proving a barrier for some companies, only 33% of SMEs offer health initiatives to staff. However, 47% of SME senior executives said they are setting a good example through healthy behavior and taking part in exercise classes and sports teams at work.

PruHealth’s Vitality incentive programme enables smaller companies to provide a full ‘blue-chip’ range of healthy activities for employees as part of their corporate private health insurance, enabling companies of all sizes to benefit from a healthier workforce.”

About PruHealth
PruHealth was launched in October 2004 as a joint venture between Prudential and Discovery Holdings from South Africa to provide private health insurance. Since launch, PruHealth has grown quickly. PruHealth medical insurance now covers over 190,000 lives and in a sample of its individual customers, one third said they had changed their behaviour for the better because of its Vitality reward scheme which encourages policyholders to look after their health.

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The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion – Almost £3 Billion More Than Last Year

The Children’s Mutual has reported the cost of university for this year’s recent A-level graduates could be as high as £25 billion – almost £3 billion more than last year. The Children’s Mutual warns that thousands of young adults celebrating their A-Level results and their parents may remain unaware of this rising cost.

The Cost Of University For This Year’s Recent A-Level Graduates Could Be As High As £25 Billion - Almost £3 Billion More Than Last Year

According to the leading Child Trust Fund provider, the average student needs to find about £42,000 to fund three years at university, but this doesn’t take into account the costs of any further training they might want to do after their degree. Currently 87% of young people in the UK are receiving financial help from their parents and help towards university costs is something many students expect and parents expect to give*. Increases in year-on-year university costs also mean this bill will rise in future years.

One way parents of future scholars can help mitigate the rising costs is by saving regularly from when their children are very small. The Child Trust Fund (CTF) was created by the Government to provide every eligible child with a nest egg when they turn 18, with parents, friends and family all encouraged to help save. Launched in 2002, more than 4.4 million children now have a CTF account. Topping up a child’s CTF on a monthly basis could result in a significant lump sum when the child turns 18, perfect for helping with university costs.

David White, Chief Executive of The Children’s Mutual, said: “University can be as much of a millstone as it is a milestone. While parents will be pleased about their children’s successes as they receive their A-level results and many look forward to university, the high costs involved can be a real financial strain to a huge number of students and their parents. For families planning to support their children through university, finding a lump sum to cover the costs can be very difficult. Often, parents are left with no other option but to dip into their savings or remortgage their house. This can have a serious impact on their own financial future.

“From 2020 all 18 year-olds will have access to their maturing Child Trust Funds as they enter adulthood and the money saved in these could make a real difference to both future university students and their parents.”

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Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Saxo Bank, the online specialist in trading and investment, has reported its half year results showing that clients’ collateral deposits and assets under management in total exceeded DKK 25 billion and, in a very difficult year, profit before tax reached DKK 55 million.

Saxo Bank, The Online Specialist In Trading And Investment, Maintains Profitability In First Half Of 2009

Operating costs increased primarily due to new office openings, product launches, as well as contributions to the Danish State Guarantee Scheme and with unchanged income, profit before tax declined from the same period in 2008.

– Pre-tax profits of DKK 55 million (DKK 162 million).
– Operating income of DKK 969 million (DKK 969 million).
– EBITDA of DKK 128 million (DKK 221 million).
– Clients’ collateral deposits increased to more than DKK 11 billion (DKK 8 billion).
– Assets under management in the Asset Management department exceeded DKK 14 billion (DKK 0).
– The solvency ratio for Saxo Bank Group was 18.9% (10.1%).

In a joint statement, Saxo Bank co-CEOs and co-founders, Kim Fournais and Lars Seier Christensen, commented: “We did expect 2009 to be a difficult year. However, the results reassure us that we took the right decision when we chose to steer the Bank into a new phase based on a more flexible structure before the financial crisis took hold. We also find it encouraging that the Bank managed to strengthen and optimise its entire value chain, product offering and geographical footprint during what were six very challenging months for the financial markets as a whole. And, equally importantly is of course, that our new Asset Management department got off to a good start with DKK 14 billion in assets under management, a number that since has grown to DKK 16 billion”.

During the first half of 2009, Saxo Bank introduced a number of enhancements to its award-winning online trading platform, the most significant of which were related to Commodity CFD’s and FX options. In addition to a broader product offering, the Bank widened its geographical footprint and established its presence in Milan, Madrid and Prague, and acquired two Dutch broker houses and a Tokyo-based provider of FX services. In May, Saxo Bank became the first Danish bank to receive regulatory approval to operate a regional office in the Dubai International Financial Centre.

About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex Trading for clients, CFDs, Stocks, Futures, Options and other derivatives, as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the leading online trading platforms.

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