Charter school buys former Carmen Schools building for $1.17M
The Milwaukee Business Journal is accepting nominations for its C-Suite Stars and Executive of the Year awards, which recognize the work of corporate leaders in a range of functions.
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UPI
2 days ago
- UPI
Education Department releases $7 billion held from schools nationwide
July 25 (UPI) -- The U.S. Department of Education finished releasing more than $7 billion in funds for school programs nationwide after a pause at the start of July, an agency spokeswoman said Friday. Last week, $1.3 billion was released with more than $6 billion remaining. The U.S. Office of Management and Budget was reviewing the rest. "OMB has completed its review of Title I-C, Title II-A, Title III-A, and Title IV-A ESEA funds and Title II WIOA funds, and has directed the department to release all formula funds," said Madi Biedermann, deputy assistant secretary for communications for the Education Department, said in an email to media, including The Hill and ABC News. "The agency will begin dispersing funds to states next week." Earlier, the Education Department didn't disperse routine payments for schools that include money for after-school and summer activities, classes for non-English learners and adults, and teacher preparation. The funding was authorized by Congress and was due July 1, before the start of the school year. The school districts were notified of the pause one day before. U.S. Sen. Shelley Moore Capito, a Republican serving West Virginia, had pushed for the funds' release. She and nine colleagues had written a letter to OMB. "This supports critical programs so many West Virginians rely on and I made that clear to OMB Director Vought," Capito posted on X. In a news release Friday, she said: "The programs are ones that enjoy longstanding, bipartisan support like after-school and summer programs that provide learning and enrichment opportunities for school aged children, which also enables their parents to work and contribute to local economies, and programs to support adult learners working to gain employment skills, earn workforce certifications, or transition into postsecondary education." Also, 24 Democratic-led states and the District of Columbia filed suit July 14 seeking the funds' release. A coalition of school districts, teachers' unions, nonprofits and parents sued Monday in Rhode Island. Originally, the White House said the pause was because money was going to the "radical left-wing agenda." Secretary of Education Linda McMahon told ABC News on Thursday: "We want to make sure that we have the right focus on what we're trying to do with our students." She said it could be released by the end of the year. An administration official told The Washington Post that unspecified "guardrails" were put on the money so they align with the policy. More than 200 superintendents went to senators' offices to seek an end to the freeze. David Schuler, executive director of the School Superintendents Association, applauded the change. "On the heels of our survey released Tuesday, detailing how disruptive withholding these funds would be for our nation's students, we thank our members and allies on the Hill," Schuler said in a statement. "We appreciate their tireless advocacy, communication and outreach to the Administration about the importance of releasing these critical funds." The Education Department's proposed fiscal year 2026 budget is $66.7 billion, which is a 15.3% reduction , or $12 billion, from the previous year. President Donald Trump wants to dismantle the Education Department, with states and other federal agencies taking over the dispersal of funds, including student loans and other programs. On July 14, the U.S. Supreme Court allowed for mass firings by lifting an injunction while litigation proceeds. In March, the agency's workforce was slashed in half, with 1,378 terminated. The high court didn't rule on abolishing the agency, which must be approved by Congress.
Yahoo
2 days ago
- Yahoo
Chubb net income soars 33% to $2.97bn in Q2
Chubb has reported net income of $2.97bn for the second quarter of 2025 (Q2 2025), a surge of 33% from $2.23bn recorded last year. The company achieved core operating income of $2.48bn, or $6.14 per share, reflecting a 12.9% rise. For the quarter ended 30 June, consolidated net premiums written totalled $14.2bn, representing a 6.3% increase, or 7.1% when adjusted for constant currency. Property and casualty (P&C) premiums accounted for $12.39bn, up by 5.2%, while life insurance premiums reached $1.8bn, a 14.1% increase. In North America, P&C premiums grew by 5.3%, with personal lines increasing by 9.1% and commercial lines by 4.1%. The middle market and small commercial segments saw an 8.5% increase, bolstered by a 10.2% rise in P&C lines and a 2.7% growth in financial lines. Major accounts and specialty businesses experienced a 1.5% increase. Overseas general premiums rose by 8.5%, or 10.2% in constant dollars, driven by a 15.3% increase in consumer insurance and a 6.8% rise in commercial. Increases were also noted in Latin America (17.3%), Asia (12.7%) and Europe (8.2%). Conversely, agricultural insurance in North America reported a 3.3% decline in net premiums written, attributed to lower commodity prices. Underwriting income in the P&C segment reached $1.63bn, a 15% increase, resulting in a combined ratio of 85.6%. Excluding catastrophe losses, underwriting income for the current accident year was $2.01bn, with a combined ratio of 82.3%. Pre-tax net investment income was reported at $1.57bn, while adjusted net investment income increased by 7.9% to $1.69bn. Operating cash flow was $3.55bn, with adjusted cash flow at $3.23bn. Total catastrophe losses before tax amounted to $630m, compared to $580m in the previous year. The company also reported favourable prior period reserve development of $249m pre-tax. Chubb noted a 6.1% increase in book value per share to $174.07, while tangible book value per share rose by 8% to $112.64, influenced by gains in investment assets and foreign exchange. Annualised return on equity was 17.6%, with a core operating return on tangible equity of 21% and a core operating return on equity of 13.9%. The company returned $1.06bn to shareholders, comprising $676m in share buybacks and $388m in dividends. Chubb CEO and chairman Evan Greenberg said: "We had a great second quarter. Most all of our businesses and regions of the world contributed to record quarterly results, illustrating the distinctive, diversified nature of our company. Our balance of business, geographically by customer segment and product, is a distinguishing feature of our company. 'As I observed at the beginning of the year, about 80% of our businesses globally have good growth prospects, and we are capitalising on a wide range of opportunities. I have great confidence in our ability to grow revenue and operating income at a superior rate, CATs [catastrophe bonds] and FX [foreign exchange trade] notwithstanding." On the flip side, the company's half-year net income saw a marginal decline of 1.7%, totalling $4.29bn, down from the previous year's $4.37bn. Chubb reported Q1 2025 net income of $1.33bn, down 37.9% year-over-year. "Chubb net income soars 33% to $2.97bn in Q2 " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Axios
2 days ago
- Axios
Trump administration to release billions in frozen education funds
The Trump administration will release more than $5 billion in frozen funds for schools, the Department of Education announced Friday. The big picture: The administration has been facing bipartisan pressure to release the funds, with GOP senators issuing a public plea. Driving the news: The White House Office of Management and Budget completed a review of Title I-C, Title II-A, Title III-A, and Title IV-A ESEA funds and Title II WIOA funds and directed the Education Department to release them, department spokesperson Madi Biedermann said in an emailed statement. The agency will begin dispersing funds to states next week, she added. What they're saying: Sen. Shelley Moore Capito ( who was among the Republican lawmakers who signed onto a letter urging the administration to release the funding, said Friday that the funding supports critical programs people rely on. "The programs are ones that enjoy longstanding, bipartisan support like after-school and summer programs that provide learning and enrichment opportunities for school aged children, which also enables their parents to work and contribute to local economies, and programs to support adult learners working to gain employment skills, earn workforce certifications, or transition into postsecondary education, Capito said.
