Payday loan borrowers pay more in fees than original loan

first_imgDesperate consumers often turn to payday loans as a financial quick fix, but many get stuck in a “revolving door of debt” in which they end up paying more in fees than their original loan was Melanie Hicken More than 60% of payday loans are made to borrowers who take out at least seven loans in a row — the typical point at which the fees they pay exceed the original loan amount, according to a study of more than 12 million loans made over 12-month periods during 2011 and 2012 by the Consumer Financial Protection Bureau.Also known as cash advances or check loans, payday loans are typically for $500 or less and carry fees of between $10 to $20 for each $100 borrowed, according to a separate CFPB report last year. A $15 fee, for example, would carry an effective APR of nearly 400% for a 14-day loan. Yet, payday lenders defend these loans as a source of emergency cash for consumers who are unable to secure more favorable credit products. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Judges receive anti-bias training

first_img February 15, 2016 Regular News Judges receive anti-bias training J udges receive anti-bias training More than 20 state court judges recently attended a training session to learn how implicit biases can result in explicit behavior that may effect fairness in the courts. Judge Dawn P. Fields, diversity coordinator for the Seventh Circuit, hosted the CJE Fairness & Diversity Conference at the Beach Safety Headquarters in Daytona Beach. Thirteenth Circuit Judge Claudia R. Isom and 10th Circuit Judge Peter Estrada from the Supreme Court Standing Committee on Fairness and Diversity assisted in preparing and presenting the program. Other faculty included retired Seventh Circuit Judge Hubert Grimes, Assistant State Attorney David Cromartie, attorney Kelly Chanfrau, Assistant Public Defender George Burden, and attorney Alicia Washington. Curriculum included a presentation by County Court Judge Chris Kelly, who presented a section titled “The Level Playing Field — Jury Selection and Jury Instructions,” and Arnell Bryant-Willis, diversity initiatives manager for The Florida Bar, conducted a “Privilege Walk” exercise. Judges completed the “One Day in Three Years” educational requirement for state court judges, who are required to attend a day-long session on fairness and diversity within their first three years on the bench.last_img read more

How a bad relationship can make you ill – by damaging your immune system

first_imgThe Daily Mail: Feeling anxious about close relationships could make you fall ill  – by damaging your immune system. Not only does anxiety appear to raise levels of stress hormones in the body, it also makes it less effective at fighting off illness.…Though some scientists believe that attachment anxiety can be traced back to childhood, Dr Jaremka noted that people who feel anxious can change, over time.‘It’s not necessarily a permanent state of existence,’ she said in the study published in the journal Psychological Science.  Read the whole story: The Daily Maillast_img

The Ministry of Tourism is setting up a working group for Russian tourists

first_imgDeputy Minister of Tourism Pauletić participated in the opening ceremony of the International Moscow Fair of Tourism and Travel (MITT), which is being held from March 23 to 26 at the Expocentre in Moscow. During his stay in Moscow, Deputy Minister Pauletić met with the Director of the Sector for Tourism and Regional Policy Olga Jarilova and the Acting Director of the Sector for International Cooperation Olga Andonjeva at the Ministry of Culture. to be held at the end of April in Zagreb.This also represents a turning point between Russian-Croatian cooperation in the field of tourism. As part of the meeting to discuss activities in the field of cooperation through tourism in the next three years, a B2B workshop between Russian and Croatian travel organizers would be organized. Furthermore, the idea of ​​holding a month of Russian tourism in Croatia was proposed, so that since the Russian school holidays begin on May 25 and last until June 20, during this pre-season period, tourist traffic from Russia could be further intensified.After illogical and incomprehensible years of wandering around the issue of the arrival of Russian tourists, finally a concrete move and open cooperation in solving all problems with the aim of increasing the arrival of Russian tourists to the Adriatic. We hope that these activities will not remain only on paper and that the Ministry will be proactive because in today’s world and fierce competition, every guest is important, let alone Russian tourists who have been inclined to the Adriatic coast for years. The Ministry of Tourism points out that this year they expect the negative trend of Russian tourist arrivals to stop, and the growth of about 20 percent of Russian guest arrivals, ie approaching the numbers before the introduction of the visa regime. If the predictions come true, it would certainly be a very good reason to celebrate both in the Ministry of Tourism and all tourism workers. But it is a long way to go, but it is certainly commendable that the first step has been taken, which certainly raises positive hope. Last year, Croatia was visited by 113 guests from Russia, who spent 866 nights. Last year, Russia was also the 16th market in terms of the number of overnight stays in Croatia, with a share of 1,08% in total overnight stays.Despite the fact that the number of Russian tourists has been declining in the last few years, Russian tourists are extremely important to us because they stay in Croatia for more than eight days on average and are excellent consumers, said Deputy Minister of Tourism Pauletic.”We are talking with our Ministry of Foreign Affairs about the introduction of multiple-entry visas and how to possibly reduce the final cost of making visas for Russian tourists. What makes me extremely happy is that twice as many charter flights to Croatia have been announced this year compared to last year, and our national airline has also announced a Zagreb-St. Petersburg. ” One of the key factors in the arrival of all tourists is good transport connections, and the meeting emphasized that they will continue to further strengthen transport connections between Russia and Croatia. Furthermore, the Deputy Minister presented the Croatian tourist offer, which, in addition to the hotel, abounds in luxury private accommodation and yachting, for which Russian tourists are very interested.last_img read more

Air Products honours technical experts

first_imgGet instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270. Subscribelast_img

OneH2: Hydrogen plant explosion update

first_imgDuring the explosion there was no detonation of any on-site storage tanks and no workers were injured.60 homes damaged after hydrogen plant explosion In a statement the company said that it credits hydrogen safety protocols and systems for preventing any worker injury and further facility damage.“Safety for our workers and our community is our top priority,” said Paul Dawson, OneH2’s President. “All safety systems operated including hydrogen tank pressure relief mechanisms and isolating valves.”“We strive to comply with standards and regulations and eagerly await findings from the current investigation by authorities.”last_img

IMS to Focus on Liquefied Gas Transportation

first_imgI.M. Skaugen (IMS) has agreed terms, and signed a binding Equity Transfer Agreement, for the sale of its 50 per cent holding in the Chinese manufacturing company Shenghui Gas and Chemicals Systems Co Ltd (SGCS).The buyer is Liangzhong Investment Co. Ltd, China that is also a major shareholder with 45.41% of its shares. The Buyer will arrange his own financing to secure the purchase.A RMB 10 mill non-refundable down payment was, as per the agreement, paid into IMS’ accounts and the remainder of the purchase price will be paid by end November 2013. The agreements and repatriation of IMS’ funds are subject to customary Chinese government approvals. The agreed price of IMS’ shares is RMB 259 mill or about USD 42 mill and will generate a book gain of about USD 6.1 mill.The sale of SGCS is in line with IMS’ focus on its core business; Liquefied Gas Transportation, and plan to visualize the potential values in the IMS’ core businesses. The investment in SGCS was initially made for strategic reasons in order to secure high quality manufacturing capabilities for the supply of the cargo containment and cooling systems for IMS’ new-building program of nine specialized gas carrying vessels in the period between the years 2006 to 2011. Six of these were “MG ships” which are designed to also transport LNG. After the delivery of these ships IMS’ investment in SGCS became non-strategic and the Company initiated the process of making a profitable exit in order to concentrate their business on Liquefied Gas Transportation.Says Morits Skaugen, the CEO of IMS: “We are proud to both have been the largest shareholder and a contributor to the Shenghui Company since 2006. We provided the company with money and technology and its vision to focus on the LNG value chain. We have then seen the further use of advanced technology to see its growth in the employment of Chinese in the new factories that has been made in China. When we made our equity investment of USD 11 mill in 2006 the Shenghui Company had a turnover of RMB 145 mill and expected this year is over RMB 1 billion. SGCS has thus since IMS’ equity investment was made in 2006 developed rapidly and it has been able to grow sevenfold in turnover while EBIT margins have been kept stable at above 10%. This has been quite an achievement by the management of this company; considering that no further equity injections have been made since by its shareholders since our initial investment was made in 2006”[mappress]I.M. Skaugen, November 4, 2013last_img read more

AziNam becomes operator of exploration licence offshore Namibia

first_imgAziNam Ltd., the offshore Namibia focused exploration company, has received government approval for it to assume operatorship of Petroleum Exploration Licence (PEL) 34, offshore Namibia.Azinam also informed that it has opened its office in Windhoek, the capital of Namibia.Government approval of operator statusIn recent months AziNam has increased its working interest position in the majority of its offshore Namibia licences. During the course of 2014 AziNam increased its working interest in PEL 34 from 20% to 40%. The Government of Namibia, along with AziNam’s partners, has now approved AziNam to become operator of PEL 34.The company’s current working interest positions in PELs 30, 33 and 34, offshore Namibia, stand as follows:PEL 30 Eco (Atlantic) Oil & Gas 32.5% (operator)AziNam 32.5%;Tullow Oil 25%;Namcor 10%.PEL 33 Eco (Atlantic) Oil & Gas 60% (operator)AziNam 30%;Namcor 10%.PEL 34 Eco (Atlantic) Oil & Gas 50%AziNam 40% (operator);Namcor 10%.New officeIn addition, AziNam has opened its new office in the centre of Windhoek’s business district. The office is already staffed and led by Uaapi Utjavari, formerly Executive E&P Manager at NAMCOR, the Namibian State Oil Company. The Windhoek based team will be the hub of AziNam’s commercial, technical and operational functions in-country. According to AziNam, it will play an integral role in developing its exploration portfolio in the wider region.AziNam Managing Director, David Sturt, commented:“Becoming an operator offshore Namibia is an important milestone in the development of our business in the region, reflecting the quality of work already being carried out on our assets and highlighting AziNam’s financial strength and technical competence. Receiving approval from the Government of Namibia and the Ministry of Mines and Energy to assume the operatorship of PEL 34 is another vote of confidence in the Company’s ability. Across our Namibian portfolio we have carried out aspects of the technical evaluation work and managed a number of operational projects on behalf of the partnerships. We view our move to operator status as a natural progression and an endorsement of our technical and operational capabilities.“The opening of our office in Windhoek and the appointment of Uaapi Utjavari, as Vice President Exploration of AziNam for Africa, further strengthens our position in Namibia as we continue to grow within the region.Sturt added: “The Namibian E&P sector is entering a promising period as a number of sizeable Independent E&P companies have recognised the potential for significant hydrocarbon discoveries offshore Namibia and are driving forward with exploration campaigns. “Namibia’s favourable licence terms and attractive business environment encourage exploration investment and we would like to thank the Government and people of Namibia for their continued support.”[mappress mapid=”1689″]last_img read more

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Namibia launches fund to boost infrastructure development

first_imgZimbabwe-Namibia pact aims to boost small business development South Africa seeking funding for infrastructure development Windhoek Namibia, Africa, modern skyline with skyscrapers and downtown a clean Capitol city (Photo by: Education Images/Universal Images Group via Getty Images) A view of a section of Windhoek, the capital city of Namibia. (Photo by: Education Images/Universal Images Group via Getty Images)Namibia on Friday launched the Infrastructure Development and Investment Fund aimed at mobilizing financial resources for infrastructure for a range of sectors in the country.“The country has a massive deficit of funding for infrastructure. We need to invest in infrastructure to grow the economy, create jobs and to socially and economically uplift Namibians,” said Johannes Gawaxab, chairperson of the fund.Namibia has so far raised 550 million Namibian dollars (37 million U.S. dollars) for investments in water and energy sources. The country aims to raise about 1.5 billion Namibian dollars in total.Namibia aspires to become an industrialized country by 2030.Relatedcenter_img Chinese investors helping boost Lagos infrastructurelast_img read more