Charities missing out on £75 million in interest, says Alliance & Leicester

first_img  21 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Finance Charities and non-profit organisations are missing out on more than £75 million in interest simply because they have not shopped around for the best deal on their deposit accounts, claims Alliance & Leicester Commercial Bank (ALCB).Research commissioned by the bank found that one in three (31%) organisations with a deposit account automatically opened the account with their existing bank without researching the market for the best deal. With an average of £45,000 held in charities and non-profits’ deposit accounts, “not shopping around for the most competitive rate is costing these organisations substantial amounts in lost interest” argues the bank. Not all organisations even have a deposit account for their surplus funds: indeed, only 39% do so according to the research. Advertisement About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThiscenter_img Howard Lake | 5 September 2004 | News Charities missing out on £75 million in interest, says Alliance & Leicester Alex Smith, Head of Deposit Accounts at Alliance & Leicester Commercial Bank said: “It is disappointing that organisations continue to settle for raw deals, and especially surprising in the voluntary sector where it is vital that funds work as hard as possible. It is very easy to switch deposit account providers and I hope that these findings encourage more charities and non-profit organisations to open an account, which rewards their surplus funds. “Getting the best deal is not about haggling with your bank; it’s about finding out what is available in the marketplace.”Alliance & Leicester Commercial Bank has put together some tips on how organisations can make the most out of their deposit funds:Don’t assume that current account providers will be able to offer the best deal, shop around and look beyond the traditional high street banks.Work out a sensible notice period and the minimum deposit amount you can comfortably live with before you begin your search to avoid confusion when comparing the relative pros and cons of different accounts. Be sure to pick an account that will offer a sound long-term investment, preferably with interest rates that track base rates.It is important to choose a deposit account provider who will not charge a fee to access deposits quickly to ensure the flexibility of invested funds.Comparison tables provide a quick and easy-to-use guide to the best deposit accounts in the market. Financial data providers such as Business Moneyfacts are a good place to start in the search for the right account.ALCB of course point out that they offer competitive banking products for charities and non-profit organisations such as the Community 30 Day notice account and Community Instant Reserve.The research involved a survey of 242 charity/non-profit treasurers in the UK, conducted by Continental Research telephone survey/TNS BusinessLine telephone survey in January 2004. It found that the average charity or non-profit organisation misses out on £400 a year in interest. The figure of £75 million was reached by multiplying this figure with the number of charities in England and Wales registered at the Charity Commission at 31 March 2004 (188,739).last_img read more

Trump Announces E15 Waiver Support to Farm State Lawmakers

first_imgHome Energy Trump Announces E15 Waiver Support to Farm State Lawmakers Previous articleTrump Tells Trade Team to Look Into Rejoining TPPNext articleConaway Releases ‘Chairman’s Mark’ Farm Bill Draft Hoosier Ag Today The Trump Administration is planning to allow E15 sales year-round. During the White House agriculture roundtable Thursday, President Trump announced his support for E15 sales year-round without a cap on RIN prices, according to attendee, Iowa Senator Chuck Grassley. Ethanol groups have argued that allowing year-round sales of 15 percent ethanol blended fuels would be a “win-win” for agriculture and refiners, who have alleged that RIN prices are overburdensome. President Trump told the group “We’re going to raise it up to 15 percent,” adding the move “makes a lot of people happy.”Growth Energy applauded the comments from Trump, calling the move a “common-sense fix.” Growth Energy CEO Emily Skor says a waiver lifting the Reid Vapor Pressure limits on summer-time E15 sales “allows retailers to offer better options alongside traditional blends all year long.” National Farmers Union President Roger Johnson applauded the move as well, but says “more can and should be done for higher blends of ethanol.” NFU called on the administration to eliminate similar barriers to expanded use of higher blends of ethanol, such as E30.Kyle Gilley, Senior Vice President of External Affairs & Communications at POET, said, “On behalf of POET team members and stakeholders, we applaud President Trump for calling for regulatory reform that will permit year-round, nationwide sales of E15.  This action will grow biofuels and create market demand for the commodities raised by farmers struggling with economic hardships across the Midwest. Small refiners already received their reprieve through recently exposed waiver requests from the EPA. We are grateful President Trump is following through on his commitment to protect the Renewable Fuel Standard and support rural America.” By Hoosier Ag Today – Apr 12, 2018 Trump Announces E15 Waiver Support to Farm State Lawmakers SHARE SHARE Facebook Twitter Facebook Twitterlast_img read more

Japan’s Q1 GDP shrinks less than initial estimate but still faces steep recession

first_imgThe revised data confirmed Japan had slipped into recession for the first time in 4-1/2 years, after a 7.2 percent contraction in October-December, pressured by last year’s sales tax hike and the US-China trade war. Recessions are defined as two straight quarters of contraction.On quarter-on-quarter basis, the economy contracted 0.6 percent in the first quarter compared with an initial reading of a 0.9 percent decline.Business spending showed gains after the finance ministry’s survey earlier this month, which was used to calculate the revised gross domestic product, drew fewer respondents than usual. Spending is expected to falter in coming months.Capital spending rose 1.9 percent from the previous quarter, reversing from a preliminary 0.5 percent fall. Private consumption, which accounts for more than half of Japan’s economy, fell 0.8 percent compared with the preliminary 0.7 percent decline, as solid demand for daily necessities was offset by declines in spending on services.Net exports – or exports minus imports – subtracted 0.2 percentage point from revised GDP growth, as the coronavirus slammed global demand.Analysts are forecasting the economy will suffer an annualised contraction of more than 20 percent in April-June as Prime Minister Shinzo Abe announced a state of emergency and requested citizens to stay home and businesses to close to prevent the virus spreading.Although the emergency was lifted in late May, the economy is expected to recover only moderately in coming months due to the pandemic’s sweeping impact globally and at home.The Bank of Japan is likely to maintain this month its projection that the economy will gradually recover from the damage in the latter half of this year, sources said.The BOJ eased monetary policy for two straight months in April, joining government efforts to cushion the blow from the pandemic. The government has compiled two stimulus packages worth a combined $2.2 trillion.Topics : Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.A series of recent April data including exports, factory output and jobs figures suggested Japan is facing its worst postwar slump in the current quarter as the outbreak forced people to stay at home and businesses to close globally.The world’s third-largest economy shrank an annualised 2.2 percent in January-March, revised data showed on Monday, less than the 3.4 percent contraction indicated in a preliminary reading and compared with a median market forecast of a 2.1 percent drop.last_img read more

Jamaica’s Elaine Thompson suffers first defeat the season

first_imgFormer Opposition Leader McKeeva Bush will be the next premier of the Cayman Islands, after striking a deal with eight independent candidates who won seats in last week’s general election and announcing that his Cayman Democratic Party (CDP) would join forces with the incumbent People’s Progressive Movement (PPM) to form a new government. Bush, who served as premier from 2009 to 2012, heads the CDP which won only three of the 19 seats in the Legislative Assembly in last Wednesday’s polls.Three Jamaicans are among six people now in United States Border Patrol custody, in connection with a suspected human smuggling case. The Jamaicans  were nabbed along with an Israeli, a Jordanian, and another person who claimed to be a US citizen. They were on a 36-foot cabin cruiser, approximately 11 miles east of Fort Lauderdale, when they were intercepted by a Coast Guard vessel. During initial questioning, the vessel operator reported they had two people aboard, but the Coast Guard officials who had boarded the boat discovered four additional people on the cruiser.Jamaica National Money Services (JNMS) celebrated its 20th Anniversary in South Florida with a service at the Merrell United Methodist Church yesterday. Jamaica’s Minister of Tourism Edmund Bartlett, Broward Commissioner Dale Holness, State Rep Barrington Russell, Mayor of Lauderdale Lakes Hazelle Rogers were among the dignitaries in attendance. JNMS Regional Manager Carmen Bartlett led the Greetings on behalf of JNMS. Earl Jarrett, CEO and JN Group Chairman, gave official remarks, and JNMS team member Susan Palmer, motivated the audience with a ministry in song.And in sports.Jamaica’s Olympic champion, Elaine Thompson suffered her first defeat this season when she placed third in the women’s 200 metres at the Prefontaine Classic in Eugeneon on Saturday. Thompson, who won the sprint double at the Rio Olympics last Summer, clocked 21.98 seconds as American Tori Bowie won the race quite easily in 21.77 seconds. Shaunae Miller-Uibo of the Bahamas, the 400meters gold medalist in the 2016 Rio Olympics, finished second. Dutchwoman Dafne Schippers placed fourth, and American Allyson Felix was fifth.Here’s what’s trending…The Trump White House is reportedly considering a major personnel shake-up, in response to the latest in a string of Russia-related scandals that have kept the administration on the defensive for weeks. Trump returned to the US from a nine-day international tour on Saturday – a day after the Washington Post reported that Jared Kushner, his son-in-law and senior aide, sought to set up secret “back channel” communications between Russia and the Trump presidential transition team in December 2016.For Today’s weather forecast.It will be mostly sunny in Miami-Dade, Broward and Palm Beach counties with a high of 91 and a low of 77. For more on these and other stories visit us at Make sure to pick your copy of Caribbean News weekly at your nearest Caribbean American outlet.Today’s news was brought to you by the Florida Department of Health in Broward County, who encourages you to ask your child’s doctor about the HPV vaccine that prevents many types of cancer, protects girls and boys, and is recommended at age 11 or 12.last_img read more