All posts tagged: financial

Planned exclusion levy ‘financial blackmail’ say leaders

Planned exclusion levy ‘financial blackmail’ say leaders

Published by skeptic

More from this theme Recent articles A cash-strapped council plans to charge schools £21,000 for the exclusion of pupils, using a new “levy” it says will “incentivise” inclusion. But outraged heads say Devon’s plans are “financial blackmail”, while lawyers say the proposals could be illegal. Devon says rising exclusion rates are no longer affordable, but a planned “exclusion levy” could raise £5.1 million. However, headteacher Steve Hitchcock, the regional secretary for the NAHT leaders’ union, said such a levy could deter schools “from taking necessary steps to protect the learning environment, ultimately putting vulnerable pupils and staff at greater risk”. It would place more financial pressure on schools “already dealing with constrained budgets, risking both the wellbeing of staff and students”. “Such a punitive measure is likely to create a combative and target-based relationship between school leaders and the local authority.” ‘Incentivise inclusivity’ In a wider consultation on school funding, Devon said the charge would help “accelerate our approach” to developing “inclusive learning communities”. It would “incentivise schools with high exclusion rates to explore every possible …

A golden opportunity for a real financial education for all

A golden opportunity for a real financial education for all

Published by skeptic

More from this theme Recent articles Financial education has been on the national curriculum for secondary schools in England for a decade, yet research shows less than half of young people receive it at school, and over half of teachers aren’t even aware it’s on the curriculum. Currently, only 20 per cent of secondary schools are required to follow the national curriculum, but with the government’s review set to expand this mandate to all state schools, we’re on the brink of a  golden opportunity to underscore the importance of financial literacy and rethink how it is taught and assessed. Rather than limiting financial literacy to standardised tests, project-based and practical assessments offer a more flexible, relevant approach. Young Enterprise supports these reforms to make financial education engaging and practical, preparing young people for real-life financial decisions. With 23 million people in the UK considered to have poor financial literacy, stronger support for teachers and students to ensure every young person receives essential financial knowledge before leaving school is vital to a fairer, more equitable future …

Cinecitta Studios to Approve Restated Financial Records

Cinecitta Studios to Approve Restated Financial Records

Published by skeptic

Rome’s iconic Cinecittà Studios is drowning in red ink. The Hollywood Reporter Roma has learned that the studios’ losses in the first half of 2024 amounted to 13.5 million euros ($14 million), while Cinecittà’s share capital stands at just 22.7 million euros ($23.8 million). Sources close to the studios report that the shareholders’ meeting, scheduled for Thursday, will formally acknowledge the errors made by the previous management and may pursue legal action against former CEO Nicola Maccanico, who signed off on the 2023 accounts. The dramatic financial turmoil engulfing Cinecittà has escalated in recent days, setting the stage for a potentially explosive resolution in the next chapter of this ongoing financial thriller on Thursday. On Monday, it was revealed that Cinecittà president Chiara Sbarigia and other board members were informed on Aug. 1 of alleged irregularities in the studios’ financial statements. An independent audit uncovered a potential shortfall of approximately 6.7 million euros ($7 million). Sbarigia confirmed to THR Roma that a PricewaterhouseCoopers audit had indicated the need to restate the company’s financial results, requiring adjustments to …

Vertical Aerospace’s VX4 achieves major milestone as financial challenges continue

Vertical Aerospace’s VX4 achieves major milestone as financial challenges continue

Published by skeptic

Despite needing to raise capital to fund operations, Bristol-based Vertical Aerospace which is pushing the boundaries of electric, zero-emissions aviation, has announced its “Flightpath 2030,” strategy for market leadership before the end of the decade. Stuart Simpson, CEO of Vertical Aerospace, said: ““This is a transformational moment for Vertical as we advance from prototype to production. Since I became CEO, I’ve been clear that I want Vertical to lead — not just compete in — the eVTOL sector. READ MORE: Bristol’s Vertical Aerospace “in rescue talks with creditors” “The strategy and goals we unveiled today provide a new level of detail on how exactly we intend to get there – the best team, delivering the safest and most versatile aircraft, with the most compelling business model in the industry.” The company is also celebrating its latest full scale VX4 prototype achieve piloted, untethered vertical take-off and landing for the first time as Phase 2 of its flight test programme begins. The VX4 prototype, powered by battery packs delivering up to 1.4 MW of peak power, surpassed …

English tuition fees rise – but it’s nowhere near enough income to solve universities’ financial crisis

English tuition fees rise – but it’s nowhere near enough income to solve universities’ financial crisis

Published by skeptic

UK education secretary Bridget Phillipson has announced that university tuition fees in England are set to rise next academic year, with the maximum fee increasing by £285 to £9,535. This will be the first increase in university education for domestic undergraduate students since 2017, when fees were raised to £9,250. The additional income is sorely needed. Data from the Institute for Fiscal Studies shows that the money spent on undergraduates’ education has been declining in real terms. On average, £9,600 was allocated per UK undergraduate student in 2023-24, compared to almost £12,000 in 2012-13. On the other hand, other educational stages – early years and primary education – have seen real term increases since 2012. Had fees been linked to inflation since their raise to £9,000 in 2012, they would have reached nearly £15,000 by now. At some point, fewer resources translate into lower quality. Universities have continually been asked to do more with less. As such, they have adapted to the conditions of the market by increasing recruitment of international students, whose annual fees …

Spring Auction Season Was Worst Financial Performance This Century

Spring Auction Season Was Worst Financial Performance This Century

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A new report by veteran art market analysts Michael Moses and Jianping Mei of JP Mei & MA Moses Art Market Consultancy, argues that the 2024 spring auction season was “the worst overall financial performance” for the art market this century. The report, titled “How Bad Was the Spring 2024 Auction Season? Financially as Bad as It Gets,” analyzed around 50,000 repeat sales of artworks at Christie’s, Sotheby’s, and Phillips over the last 24 years. Only works first purchased at any worldwide auction from 1970 were included. Related Articles “It’s a very simple methodology,” Moses told ARTnews. “We believe the only way to study the art market is through repeat sales, so we can get a factual analysis of what the returns in the art market are. So, we’re not just looking at revenue, we’re looking at return.” Now retired, Moses was previously a professor at New York University’s Stern School of Business and Mei is a professor at Beijing’s Cheung Kong Graduate School of Business. A cursory glance at auction results over the last two …

Academy trust given financial help over £6m deficit

Academy trust given financial help over £6m deficit

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More from this theme Recent articles A 24-school academy trust has been handed “exceptional financial support” after running up a £6 million deficit, including after buying iPads for its staff and pupils. The Arthur Terry Learning Partnership has blamed the economic landscape for its failure to to balance budgets. It was issued a notice to improve earlier this month. Accounts show the trust racked up a £6 million in-year deficit 12 months ago after being stung by energy price hikes, “significant” supply staff costs and changes to contracts on computers. Stephen Morales The trust has already appointed an experienced government cost-cutter to its board and drawn up plans for “efficiency savings” across its academies. Stephen Morales, the chief executive of the Institute of School Business Leaders, said the case “definitely demonstrates the extent of the challenge schools and trusts face. “[It’s] a trust of a significant size, so I’d suspect it would have exhausted all the opportunities to benefit from economies of scale and remove any duplication of effort.” ‘External factors beyond anticipation’ Arthur Terry’s …

Financial stress is associated with increased risk of cardiovascular diseases

Financial stress is associated with increased risk of cardiovascular diseases

Published by José

A new meta-analysis has examined the association between financial stress and the risk of cardiovascular diseases. The results showed that individuals experiencing financial stress have around a 19% higher risk of developing a major cardiovascular event, such as a myocardial infarction, stroke, or cardiovascular death. The paper was published in Current Problems in Cardiology. Cardiovascular diseases are a group of disorders that affect the heart and blood vessels. They include conditions like coronary artery disease, stroke, heart failure, and hypertension. These diseases are the leading cause of death globally, responsible for millions of deaths every year. Atherosclerosis, the buildup of fatty deposits in the arteries, is a primary cause of many cardiovascular conditions, leading to reduced blood flow and an increased risk of heart attacks or strokes. However, atherosclerosis is not the only cause. Major risk factors for cardiovascular diseases include high blood pressure, high cholesterol, smoking, obesity, and lack of physical activity. Diabetes and a family history of heart disease also increase the risk. Researchers have reported that certain life events or conditions might …

Republicans slower to adopt solar panels, but respond more strongly to financial benefits

Republicans slower to adopt solar panels, but respond more strongly to financial benefits

Published by José

A new study has revealed that homeowners’ political affiliations are associated with their decision to install solar panels, but this effect tends to weaken when solar energy becomes more cost-effective. Published in the Proceedings of the National Academy of Sciences, the research found that Democratic homeowners are about 1.45 times more likely to adopt solar energy than Republicans. However, Republicans appeared more sensitive to the financial benefits of solar energy as its economics improved. Climate risk mitigation relies heavily on transitioning from fossil fuels to renewable energy sources, such as solar power. Yet political divisions in the country, particularly regarding environmental issues, have raised questions about whether political affiliations affect household energy choices. While surveys show that people across the political spectrum support clean energy, research suggests differences in how conservatives and liberals prioritize the economic versus environmental benefits of renewable energy. This study set out to directly examine the connection between homeowners’ political affiliations and their decisions to install residential solar panels, addressing the need for more comprehensive data on how political identity influences …

The experts: financial advisers on 18 foolproof ways to spend less and save more | Family finances

The experts: financial advisers on 18 foolproof ways to spend less and save more | Family finances

Published by skeptic

Saving, whether it is to build up an accessible pot of cash in case of an emergency, or planning ahead for your retirement, is often easier said than done. Financial advisers share their advice on how to ensure you have enough money in the future while allowing you enough to enjoy the present. 1. Have a rainy day fund “You should have at least three months’ worth of expenditure in accessible cash,” says Kirsty Stone, a chartered financial planner and financial adviser at The Private Office, an independent firm with branches in Leeds, London and Bath. Before Stone talks to clients about investing, she asks them what their worst-case scenario is: for most people, this is losing their job or being unable to work. An emergency fund might seem unattainable in the current climate but it is something to work towards, she says. “If we look at the increasing cost of living over the past few years and the lack of earnings going up in line with that, people are really struggling to save at …