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FCA overdraft rules: What they mean and which banks have hiked fees

first_imgFrom next year, First Direct customers are set to be charged 39.9 per cent EAR on any overdraft over £250. “We hope to see more banks now coming forward with competitive overdraft pricing and for the regulator to ensure that its transformation of current account overdrafts delivers for customers,” he added. Under the new rules, the watchdog expects to see the typical cost of borrowing £100 via an unarranged overdraft to fall from £5 per day to less than 20p per day. Over half of the UK’s 52m current account holders use overdrafts, which generated £2.4bn revenue for banks in 2017, according to the FCA. Under measures that will come into force in April next year, banks will be prevented from charging more for unarranged overdrafts than for arranged ones.  The new flat rate is over double the 18.9 per cent Nationwide used to charge standard current account customers for its overdraft. Some banks have already raised fees in anticipation of the new rules coming into force, and Haqqi warned that others could follow suit. The Financial Conduct Authority (FCA) has ordered UK banks to stop including overdrafts in funds marked as “available” to customers, in a move designed to make it clear that overdrafts are a form of debt, rather than the customer’s own money.  Starling Bank Tags: HSBC Holdings Nationwide The rule change is of a wide-ranging shakeup of overdrafts announced by the FCA in June to “fix a dysfunctional overdraft market”.  Rules on how banks can display overdrafts come into force today The building society announced in July that it would set its effective annual rate (EAR) for  overdrafts at 39.9 per cent for all customers from October. Nationwide “Unfortunately too many people fall into the trap of believing that’s their money rather than a debt,” FCA director Christopher Woolard told Radio 4’s Today Programme. “These important changes will give consumers more clarity about their finances and should help them make informed spending decisions and avoid going into the red,” said Gareth Shaw, head of money at Which? Wednesday 18 December 2019 10:54 am First Direct Millions of people may see changes to their available bank balances today as new overdraft rules from the financial watchdog covering how overdrafts are displayed come into effect. Read more: HSBC to bring in 40 per cent overdraft rate City A.M. has put together a guide to which banks have already changed their fees, so you can check if your account will be affected.  It is also removing its current £50 buffer on unarranged overdrafts, which means customers will no longer be able to go over their overdraft limit by any significant amount without facing charges.  The challenger bank’s new overdraft pricing will change customers an EAR of 19, 29 or 39 per cent depending on their credit score. Nationwide was the first lender to announce a shakeup of its overdraft pricing in response to the new FCA rules. “It’s not clear how banks are going to cover the recurring lost revenue from unarranged overdrafts in the longer-term, and if they can’t touch overdraft fees they could decide to increase charges on other products,” Haqqi said. “The FCA correctly pointed out that a disproportionately high number of vulnerable customers are going into unarranged overdraft and being hit by excessively high fees,” he added. The bank is also scrapping its £5 daily usage fee for unarranged overdrafts, and reducing the maximum monthly cost of using the facility to £20. Which banks have raised fees? The regulator is hoping today’s change will stop customers accidentally dipping into their overdraft, or becoming confused about their actual bank balance. Starling Bank is also introducing a sliding EAR rate dependent on customers’ credit scores, charging them either 15, 25 or 35 per cent. HSBC Fixed fees for borrowing through an overdraft will also be banned, and banks will be required to advertise arranged overdraft prices with an annual percentage rate to make it easier for customers to compare different accounts. The fintech had previously charged customers a single flat overdraft rate of 15 per cent.  M&S Bank FCA overdraft rules: What they mean and which banks have hiked fees Monzo is also scrapping its free £20 overdraft buffer. The bank said that 87 per cent of its customers would either be better off or receive monthly charges of less than £1 under the new system.   Read more: FCA to overhaul banks’ ‘dysfunctional’ overdraft fees Anna Menin Salman Haqqi, a personal finance expert at money.co.uk, said the “radical overhaul of the overdraft market” would make it “fairer and more transparent” and was “long overdue”. Monzo announced last week that it was scrapping its daily fixed overdraft fee of 50p, replacing it with a risk-based system charging customers up to 39 per cent from April. whatsapp The rules will come into effect from March, and HSBC said it expects them to adversely affect three out of 10 customers who use an overdraft. Earlier this month, HSBC announced it would raise overdraft fees currently set between 9.9 and 19.9 per cent APR to 39.9 per cent for all customers with arranged and unarranged overdrafts. M&S Bank is also introducing a 39.9 per cent EAR charge for all overdrafts over £250.  Share whatsapp Show Comments ▼ Monzolast_img read more

Sitka police arrest fugitive hiding in elaborate tunnel system

first_imgCrime & Courts | SoutheastSitka police arrest fugitive hiding in elaborate tunnel systemJanuary 29, 2016 by Robert Woolsey, KCAW – Sitka Share:Landlord Marcel Prato and Sitka police Lt. Lance Ewers examine a tunnel system that Jeremy Beebe had excavated under his home in the Vitskari Trailer Court. (Photo by James Poulson/Daily Sitka Sentinel)A fugitive in Sitka was arrested Tuesday evening, after police located him hiding in a tunnel system he had dug under a trailer park.It took eight officers to extract the man, who had been missing just over two weeks, and who had apparently spent much of that time burrowing.Sitka police staked out the home of 42-year old Jeremy Beebe when he failed to report to jail on Jan. 12 to begin serving a 21-month sentence. Lt. Lance Ewers said that Beebe eventually returned to his home in the Vitskari Trailer Court, but when officers followed him inside to make the arrest, he had disappeared.“And we find this dungeon door. It was like a door, you go down these stairs, and it was locked from the inside — so that was a clue. So we got the battering ram out and went to town on the door and blasted it open with the battering ram and entered the dungeons,” Ewers said.Ewers said the main underground area had a dresser and a TV, and could fit four officers — all standing upright — easily. But there was more to Beebe’s getaway plan.“When we turned the corner, there was this long alleyway, if you will. And at the end of the alleyway one of the officers located Beebe. And he had a black sweatshirt on,” Ewers said. “And he told him, ‘I see you, you’ve got a black sweatshirt on, come out, let me see your hands.’ And he immediately took off and went out of sight, and we couldn’t find him.”Ewers said that the tunnel system was extensive. Officers resumed the manhunt outside the trailer, when it looked like Beebe might try to give them the slip through an alternative exit.“There were all kinds of boats and trashed vehicles and car parts, and motorcycle parts everywhere on the outside,” Ewers said. “We just contained the area, and started slowly dismantling the areas that looked like they were hiding entrances to this system of tunnels. And then we found another entrance near the back (of the trailer) where he was, and located him. One of the officers grabbed him by the ankles, but he pulled away from the officer and shimmied back into the tunnels. Another officer went around the back, ripped off the siding of the house, and just drug him out.”Beebe was taken to the Sitka jail. After consulting with the fire chief, Ewers said the Sitka building official was summoned to inspect the property, and to determine if it was now unsafe to occupy.Beebe was scheduled to serve 21 months in prison for several crimes ranging from theft to criminal mischief and misconduct involving a controlled substance.Although Ewers said he’s never seen anything this elaborate, he’s not surprised over the lengths Beebe went to in order to evade capture. In the end, it took eight officers to bring him to justice.“He was pretty motivated. He didn’t want to come to jail,” Ewers said.Ewers said that in addition to serving the original 21 months, Beebe likely faces an additional penalty for contempt of court.Share this story:last_img read more

Attack At Istanbul’s International Airport Kills At Least 28 People

first_imgUncategorizedAttack At Istanbul’s International Airport Kills At Least 28 PeopleJune 28, 2016 by Bill Chappell, NPR News Share:Dozens are injured after at least one explosion and gunfire at the Ataturk airport in Istanbul on Tuesday.Ozan Kose/AFP/Getty ImagesPeople wait outside the Ataturk airport in Istanbul after an attack on Tuesday that killed at least 28 people.Ozan Kose/AFP/Getty ImagesAt least 28 people have died at Istanbul’s Ataturk International Airport, where an explosion followed an outburst of gunfire Tuesday night, according to Turkish officials. Police and emergency personnel have flocked to the airport. Some 60 people were reportedly injured.Istanbul Governor Vasip Sahin delivered an update on the death toll in the attack; earlier, officials such as Justice Minister Bekir Bozdag had said that at least 10 people had died.“The minister said a terrorist opened fire with an AK-47 assault rifle at the international terminal before detonating a suicide bomb,” reports the state-run Anadolu Agency.An entrance of the Ataturk Airport in Istanbul after explosions on Tuesday.DHA via APCrucial details about the attack are still emerging. We’ll update this post with news from Istanbul as it emerges.A video posted to Twitter suggests security personnel shot an armed attacker as he ran around a corner in the airport. The video, one of several that appears to be smartphone footage of a security camera monitor, shows people fleeing from a man who then falls to the ground. The man struggles on the ground for some 20 seconds before the scene is overtaken by a large explosion.In an update on the attack, Bozdag later said that at least one explosion struck near the entrance to the airport. There’s been conflicting information about whether there were one or two blasts at the airport.In one harrowing video that looks to have been filmed by pointing a smartphone at security camera footage, the moment the blast struck seems to have been captured. The images show a large fiery blast — one that could have spread devastation much further if it hadn’t been at least partially contained by a hallway. At the end of the sequence, people who seem to have been only around 50 feet from the blast are seen running away. The video was posted to Twitter by many accounts; several of those postings were then removed.TV news channels in Turkey put out an online video stream showing more than a dozen ambulances responding to the airport. In one sequence, a police officer was seen walking out of the building, his shirt stained with blood.A live online broadcast from the Dogan News Agency also showed ambulances, private vehicles, and a taxi cab rushing up to the doors of a hospital, unloading bloodied patients who were then quickly taken inside.One video that was briefly posted to Twitter before being removed showed a scene of panic inside the airport, as a man who apparently works at the facility urged travelers to flee down a hallway.Consulate staff at the U.S. embassy in Turkey are now working to determine whether any Americans are among the victims of the attack. Just one day ago, the U.S. State Department issued a travel warning to U.S. citizens, citing “increased threats from terrorist groups throughout Turkey.”The embassy has posed a page to help travelersThe violence comes after a string of attacks have hit Turkey — including two deadly strikes in March that targeted Ankara and Istanbul, as well as another attack near military buildings in Istanbul in February.This is a breaking news story. As often happens in situations like these, some information reported early may turn out to be inaccurate. We’ll move quickly to correct the record and we’ll only point to the best information we have at the time. Refresh this page for the latest.Copyright 2016 NPR. To see more, visit http://www.npr.org/.Share this story:last_img read more

As Legislature looks to pass budget and coronavirus response, oil prices plummet

first_imgCoronavirus | Economy | Energy & Mining | Interior | Politics | Southcentral | State GovernmentAs Legislature looks to pass budget and coronavirus response, oil prices plummetMarch 20, 2020 by Andrew Kitchenman, KTOO and Alaska Public Media Share:Pat Pitney, then the state director of the Office of Management and Budget, gives a budget overview in 2016. On Thursday, Pitney — now the director of the Division of Legislative Finance — said the state is facing the budget impact of low oil prices. (Photo by Skip Gray/KTOO)As the Alaska Legislature weighs passing the budget and coronavirus relief in the coming days, lawmakers are considering how to pay for them.The recent collapse in oil and stock prices raise questions about everything from the size of permanent fund dividends to the future of state finances.The price of Alaska North Slope oil has plummeted to $23.91 per barrel on Wednesday. On Feb. 20, it was $57.20 per barrel.This kind of price drop has happened before, noted Pat Pitney, director of the Division of Legislative Finance, the nonpartisan office that analyzes the state budget for the Legislature.“We had a similar oil price crash in 2014,” Pitney said. “The state was in a very different position at that time. We had $16 billion in our savings accounts, plus a growing permanent fund.”That $16 billion will be down to $1.6 billion in July. That’s because the state’s been taking money out of reserves for the last six years. And the oil price drop means less oil tax money for the state, forcing the state to make more draws from savings this year.“At this low-price environment, we’re all impacted,” Pitney said, adding: “With the coronavirus: We can’t ignore the economic impact of that.”Gov. Mike Dunleavy and the Legislature are seeking to respond to the virus, potentially with economic stimulus.A major question is how this will affect the dividend. Legislative Finance projects a deficit of $192 million next year, even if the state had no dividend at all.It’s already clear that the state wouldn’t have enough money in the Constitutional Budget Reserve to pay the roughly $3,000 dividends using the formula in state law.The debate over dividends is being pulled in two directions: On one hand, there’s less money available for dividends than there has been in a long time. On the other, there’s a potential benefit to putting cash quickly into the pockets of Alaskans, many of whom are losing their jobs.Rep. Lance Pruitt, R-Anchorage, speaks with reporters during a House Republican press availability on Jan. 22, 2019. (Photo by Skip Gray/KTOO)Anchorage Republican Rep. Lance Pruitt said some Alaskans — including lawmakers — want to pay back money cut from earlier dividends to balance the state’s budget.“I’ve had people flat-out ask me, ‘Is it time to give the back dividend?’” Pruitt said.As lawmakers look to pay for dividends and COVID-19 response funds, the Alaska Permanent Fund is a potential source. But the fund’s earnings reserve is more strapped than it has been in years. Including current plans for draws and transfers, the balance available could be as low as $5.1 billion in July.Pitney said lawmakers face multiple challenges.“I think everyone is very conscious of making sure we come out of this well and focused on solutions together,” Pitney said.It’s not clear how quickly the session will end. Dunleavy’s COVID-19 economic plan includes PFD payments in April, plus $1B in statewide reliefShare this story:last_img read more

Pharmalittle: Pharma battles U.K. over pricing limits; FDA rejects J&J arthritis drug

first_imgPharmalot Pharmalittle: Pharma battles U.K. over pricing limits; FDA rejects J&J arthritis drug Ed Silverman By Ed Silverman Sept. 25, 2017 Reprints Alex Hogan/STAT Good morning, everyone, and welcome to another working week. We hope the weekend respite was invigorating and refreshing, especially for those of you who, like us, took an extended break to connect with ancient observances. Now, of course, the time has come to resume the usual routine of meetings, deadlines and the like. So tap your inner zen, grab a cup of stimulation, and dive into the tidbits below. Have a smashing day and, as always, do stay in touch …The credibility of an expert witness for the U.K. pharmaceuticals industry was shot down by the National Institute for Health and Care Excellence in a legal row over pricing, The Times reports. The cost watchdog dismissed evidence from drug makers as “plainly not independent.” Through their trade group, the companies are seeking an unprecedented judicial review in an attempt to stop NICE from imposing fresh limits on prices for new drugs and reversing changes to the cost assessment of treatments for rare diseases. Pharmalot Columnist, Senior Writer Ed covers the pharmaceutical industry. About the Author Reprints Log In | Learn More Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTEDcenter_img [email protected] @Pharmalot Tags drug pricesdrug pricingpharmaceuticalspharmalittleSTAT+ GET STARTED What’s included? Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. What is it?last_img read more

Trump administration strikes policy that supporters say helped lower drug prices

first_img Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Trump administration strikes policy that supporters say helped lower drug prices APStock What’s included? About the Author Reprints Log In | Learn More [email protected] Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Tags policy Erin Mershoncenter_img Politics GET STARTED What is it? WASHINGTON — The Trump administration on Thursday boldly reversed an Obama-era policy that supporters said had helped lower prices for some costly drugs.The policy centers on so-called biosimilar drugs, which are highly similar versions of biologic drugs manufactured in living cells or microorganisms. The Obama administration designed certain Medicare payments to encourage more price competition among those biosimilar drugs. Trump’s Centers for Medicare and Medicaid Services will reverse that policy beginning Jan. 1, 2018. @eemershon By Erin Mershon Nov. 2, 2017 Reprints Senior News Editor STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.last_img read more

Prestigious national award for Telfords Portlaoise

first_img Here are all of Wednesday’s Laois GAA results Pinterest Pinterest The 250+ guests included shortlisted merchants and representatives of the builders merchant trade throughout the country. The event was hosted by the eight Octabuild members, Dulux, Glennon Brothers, Gyproc, Instantor, Irish Cement, Kingspan Insulation, Tegral Building Products and Wavin.This is the third occasion that Telfords has been the national winner since these prestigious awards were first presented in 1986. It won the national award in 2001 and again in 2007.Liam McEvoy, Managing Director of Telfords in Portlaoise, was joined by some of the Portlaoise staff at the awards ceremony in Dublin on Thursday night.Telfords was established in Portlaoise in 1990 but the Telford business dates back to 1890 when its first store opened in Mountrath.According to the independent judging panel Telfords Portlaoise is an incredibly impressive and commercial store.It is very professionally managed using live trading and margin mix data. The store is very innovative and not afraid to embrace change. The employee share scheme is highly innovative and the intense focus on health and safety standards is market leading.Overall the judges were really impressed with the store, its systems, customer service initiatives, strong health and safety ethos, promotions and community involvement, all led by an incredibly impressive and professional team.The Octabuild Awards, which have been acknowledging the best in the builders merchant trade for 35 years, were revamped for 2019 with a renewed focus on excellence.  This is to better reflect the modern builders merchant sector in terms of business management, customer service, sales and marketing, innovation, leadership, diversity, partnership and communication.Commenting on the quality of the entries, Chair of the independent Judging Panel, Liam O’Gorman, said: “It is clear that the industry in which today’s builders merchants operate has evolved hugely and that merchants have led the way in embracing this changed landscape.“More sophisticated business systems, an enhanced skill base and a keen focus on the environment, health & safety and assistance for the local community feature strongly across the country and is highly commendable.”Octabuild Chairman, Mark Filgate said: “It’s important for Octabuild that the Awards highlight to the building and construction industry the excellence of Irish builders merchants.“We are delighted with the enthusiastic response to the new style awards this year where merchants from all over the country have put themselves and their teams forward to showcase what’s excellent in the industry.”SEE ALSO – Check out the dedicated jobs section on LaoisToday Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory Prestigious national award for Telfords Portlaoise WhatsApp GAA GAA 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin Facebook TAGSPortlaoiseTelfords center_img Twitter By LaoisToday Reporter – 8th November 2019 Twitter RELATED ARTICLESMORE FROM AUTHOR Home News Business Prestigious national award for Telfords Portlaoise NewsBusiness Telfords Portlaoise has been named as the national Builders Merchant of the Year for 2019.It has won both the National and Leinster awards in the Octabuild Builders Merchant Excellence Awards 2019.The Octabuild Builders Merchant Excellence Awards 2019 were presented on Thursday 7th November at a gala event in the Aviva Stadium in Dublin. GAA WhatsApp Facebook Previous articleFamous Dublin nightclub no longer for sale as it is taken off the market by Laois ownerNext articleMurphy on fire as Knockbeg defeat Naas to reach 2nd Year South Leinster Final LaoisToday Reporter last_img read more

United States & Jamaican Governments Partner In The Fight Against HIV/AIDS

first_imgRelatedUnited States & Jamaican Governments Partner In The Fight Against HIV/AIDS Advertisements RelatedUnited States & Jamaican Governments Partner In The Fight Against HIV/AIDS FacebookTwitterWhatsAppEmail Minister of Health, Hon. Rudyard Spencer has expressed his delight at the continued collaboration between the United States and Jamaica in the fight against HIV/AIDS through the United States’ President’s Emergency Plan for AIDS Relief (PEPFAR) to support the Caribbean Regional Strategic Framework on HIV/AIDS.Minister Spencer along with United States Embassy Chargcenter_img RelatedUnited States & Jamaican Governments Partner In The Fight Against HIV/AIDS United States & Jamaican Governments Partner In The Fight Against HIV/AIDS Health & WellnessJune 23, 2010last_img read more

LegalFuel’s ‘fireside chat’ webinar focuses on remote technology and its implications for the future

first_imgLegalFuel’s ‘fireside chat’ webinar focuses on remote technology and its implications for the future Jun 17, 2020 By Jim Ash Senior Editor Top Stories John Stewart, president of The Florida Bar, above, hosted Jack Newton, CEO and Co-founder of Clio, for a ‘fireside chat’ focusing on the mass migration to cloud-based legal technology in 2020, how legal technology can facilitate the provision of legal services, and what’s in store for the profession as it looks to the future as part of The Florida Bar’s 70th Annual Convention.The COVID-19 pandemic is forcing a “foundational” shift in the delivery of legal services that could dramatically expand access to justice, said Jack Newton, founder and CEO of the legal software giant, Clio.Appearing in a live “fireside chat” webinar with outgoing Bar President John Stewart in the Bar’s first virtual convention, Newton said he wasn’t forgetting the tragic consequences of the pandemic.But by forcing lawyers and the courts to rely more heavily on remote technology, COVID-19 is advancing the profession’s technological evolution at a dizzying rate.“This unbelievable world of innovation has been opened up,” he said. “We’ve seen what I would call decades of change happen in a very compressed time frame.”Just as important, Newton said, are surveys and anecdotal evidence that suggest consumers appreciate the convenience, and are becoming more willing to consider innovative business arrangements with lawyers to solve their legal problems.“Some of the conversations I’ve had with clients, for example, over the course of the COVID crisis, has been to the effect of, ‘I prefer working with my lawyer this way, they’re more responsive,’” he said. “As a result of all of us traveling less, we’re more available.”Sponsored by LegalFuel, the Practice Resource Center of The Florida Bar, the hour-long event drew nearly 900 viewers.Newton traced his company’s origins to 2007, when he and a partner worked as technology consultants to the Law Society of British Columbia, a Canadian equivalent of The Florida Bar.Newton saw the legal profession as an untapped technology market when an LSBC official told him that most lawyers who run afoul of ethics rules are solo and small practitioners who lack business acumen.Stewart said the problem persists.“We have the lawyering down, we know what to do,” he said. “But the business side is hard.”Clio, a Florida Bar member benefit provider, has grown into an industry leader that sells software and technology solutions to tens of thousands of law firms with “$4 billion worth of billing volume,” Newton said.Five years ago, Clio aggregated the billing data anonymously to develop performance metrics, Newton said.The study identified a “utilization rate,” or the number of hours billed per day by a lawyer as a portion of hours worked, a “realization rate,” or the number of hours invoiced to clients, and a “collection rate” of invoiced hours.Assuming an eight-hour workday, the study determined that the “utilization rate for law firms is shockingly low,” Newton said.“The average lawyer only bills for around 2.2 hours a day of their time,” he said. “So less than a quarter of your day is ending up on your bills.”With realization and collection rates of about 80%, “the math ends up translating to about 1.8 hours of collected, billable hours at the end of the day,” Newton said.Newton said the audience at a legal technology seminar gasped when he unveiled the results.“There was this initial, almost inhale of shock, and then almost a knowing nod,” he said. “They realized that these figures are accurate.”But the profession’s COVID-related technology surge could turn those figures around, Newton said.Lawyers who recently switched to Zoom are accomplishing five to 10 client interactions a day, versus one or two live meetings before the crisis, Newton said.And the promise could be far greater, Stewart said, for lawyers are willing to innovate.“Lawyers are in the service business, we are a service industry, and I think we occasionally forget that, and even when we’re paying attention to it, it’s not our area of expertise,” Stewart said.Stewart noted that clients in the past have been put off when lawyers suggest different ways to pay for their services.But COVID-19 is changing consumer expectations, Newton said.“Clients are embracing new technologies at an unprecedented rate,” he said. “If you present your clients with new ways of working with you, new ways of paying you, new ways of subscribing to your legal services, there’s an open mindedness …that just didn’t exist three months ago.”Newton cited Georgia lawyer Kimberly Bennett, founder of K Bennett Law, LLC, who advertises herself as a “virtual trademark and business strategy law practice offering on-demand and subscription legal services.”Bennett derives 80% of her income from monthly subscriptions she sells to clients, a revenue stream that was largely uninterrupted by the pandemic, Newton said.California lawyer Erin Levine, CEO of “Hello Divorce,” has created a highly successful practice with a network of lawyers who charge as little as $500 for a simple, uncontested divorce, Newton said.“Even though it’s maybe not the traditional lens that we would put on access to justice, this is truly increasing access to justice,” he said. “It’s helping people leave relationships that they don’t want to be in, it’s helping them do it in a cost-predicable way, and the law firm is benefiting from that as well.”With surveys showing a 70% unmet need for legal services, legal aid and pro bono work will always be necessary, Newton said. But lawyers who adopt new business models could narrow the access to justice gap by reaching millions of Americans who think they can’t afford help, Newton said.He cited the example of Starbucks Coffee Company founder Howard Shultz, who created a business empire after tasting a good espresso in an Italian café.“He didn’t talk about an access-to-coffee gap, he saw a market opportunity,” Newton said.last_img read more

iPhone sales power past ageing Galaxy S3 in Q4 – Strategy Analytics

first_img KT makes LG Electronics trade-in move Apple faces 5G modem wait Previous ArticleUbuntu for tablets unveiledNext ArticleOrange books €1.84B charge on “turbulent” 2012 Tags Author Apple’s iPhone 5 overtook Samsung’s Galaxy S3 to become the world’s best-selling smartphone model last quarter, according to new numbers from Strategy Analytics.The iPhone 5, which launched in September 2012, shipped an estimated 27.4 million units worldwide in the last quarter, capturing an impressive 13 percent share of the global smartphone market, the research firm says.The Galaxy S3 – which had been the best-selling smartphone the previous quarter – shipped 15.4 million units, slipping to third-place behind both the iPhone 5 and the earlier iPhone 4S (17.4 million).“Apple’s iPhone 5 and iPhone 4S together accounted for one in five of all smartphones shipped worldwide in Q4 2012. This was an impressive performance, given the iPhone portfolio’s premium pricing,” said Neil Mawston, Executive Director at Strategy Analytics.“Global demand for the Galaxy S3 appears to have peaked and Samsung will surely be keen to introduce its rumored Galaxy S4 upgrade in the coming weeks to fight back against Apple’s popular iPhone range.” AppleSamsung HomeDevicesNews iPhone sales power past ageing Galaxy S3 in Q4 – Strategy Analyticscenter_img Devices Related Matt Ablott Google taps retail with NYC store AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 20 FEB 2013 Read more last_img read more