Latest news with #Nellis
Daily Mirror
4 days ago
- Business
- Daily Mirror
DWP State Pension uplift could see people receive extra £657
The Triple Lock policy has been making headlines recently State pensioners born after 1951 could be in for a financial boost, with a potential £657 increase on the cards under the Triple Lock proposal. For the 2025/26 tax year, anyone eligible for the full new State Pension can expect to pocket £11,973 annually or £230.25 each week. Thanks to the Triple Lock being tied to an impressive 5.5% earnings growth, weekly state pension payments might see a spike to £242.90. That's nearly £972 over four weeks and leads to a favourable yearly sum of £12,630.80. The Triple Lock scheme is DWP' s promise to uprate pensions yearly based off the highest of three measures: average annual pay bump observed from May to July, CPI come September, or a fixed rate of 2.5%. This comes amid the UK's economy facing a slight 0.1% dip in growth this past May, despite the Office for National Statistics (ONS) revealing positive signs, with GDP hopping up by 0.5% in the March to May 2025 quarter, just above the expected 0.4%. Professor Joe Nellis, expert at MHA, said: "This is a far cry from the strong growth in the first quarter of the year when a surge in exports and a robust performance in the services sector placed the UK among the G7's top performers. Growth over the first half of the year is now expected to be modest. "Despite a more positive outlook for the remainder of the year, this presents a challenge to the Chancellor - her fiscal headroom remains limited by high levels of public borrowing and debt and her spending plans are heavily reliant on kickstarting the economy. "Just as last year, we now wait tentatively for the Autumn Budget to find out how the Chancellor aims to solve her fiscal problems." Mr Nellis added: "Something must change - she must either cut spending, increase borrowing, or raise taxes. We expect a squeeze on unprotected Government budgets to cut spending, but the recent rebellion in the Labour Party against the welfare reform bill shows that major spending cuts may be too politically dangerous for the Government. "The OBR's July report highlighted the intense burden that the triple lock on the state pension places on the UK economy - demographic and economic shifts have made this policy difficult to uphold, but any attempt to undo it would move the Government into treacherous waters."
CBS News
28-02-2025
- Business
- CBS News
Nationwide plan for "Economic Blackout" on Friday catches on in Chicago
In an Economic Blackout set for Friday, groups are urging Americans not to spend any money on Friday as a form of protest. The blackout is seeing support in Chicago. The call to action — or rather inaction — is asking that American consumers refrain from making any purchases at major retailers on Friday, Feb. 28. The protest comes as people continue to endure rising prices on everything from food and gas to housing and utilities, epitomized by the soaring cost of eggs which in January averaged $4.95 a dozen. In downtown Chicago, people move with purpose — whether they're driving, catching, a train, or shopping. But many hope the Economic Blackout will slow all of that down, in Chicago and around the country. Behind the boycott is a group called The People's Union USA, a self-described grassroots organization founded by John Schwarz, a 57-year-old dad originally from Queens, New York City, who has been promoting the consumer blackout for weeks on social media. Founded by Schwarz this month, The People's Union says it has no political affiliation, but focuses on "fairness, economic justice and real systemic change." Official messaging from the People's Union suggests a boycott of all major retailers, with the goal of enacting broader economic change. But many postings for the event created by online supporters have suggested a targeted boycott of retailers like Ford, McDonald's, Meta, Target, Walmart and Amazon, which have ended their DEI programs to comply with an executive order signed by President Trump in January. "I really like the idea," said Jane Mangold, who had just come from the Target at 1 S. State St. "I reluctantly went to Target." Word about the movement has been spreading in Chicago. "I support it," said Terrence White. "If it's going to stop a lot of these programs from being eliminated and keep programs we need and keep people employed, I support it." Mangold plans not to shop Friday because she is a beneficiary of DEI. "I benefited in my career because there was a focus at some of the companies I worked at to really make sure that women were given equal opportunity that the men had, and what's wrong with that?" she said. The one-day boycott is intended to show the power consumers have. "I think it's about people. But I will say that everything is about politics," said Mike Nellis, a Chicago-based digital fundraising and advertising agency for Democrats. "I think money talks. Money might be the only thing left in American politics that actually matters." Many have questioned if a one-day boycott will have any impact in the long term. "We're going to have to take some unconventional actions, and this is a good place to start," Nellis said. Nellis pointed to 2011, when a group of young activists descended on Wall Street in New York City to protest the gaping economic equality in America. That was known as Occupy Wall Street. "I think you saw a lot of it during the George Floyd protests, where people were very frustrated and taking to the streets," Nellis said. "I think you can even go back to the Tea Party. I'll give Republicans credit — the Tea Party, like there was a lot of Astroturf in that, but there were also a lot of really angry people coming out." The People's Union already has additional days in March to halt shopping.
Yahoo
28-01-2025
- Business
- Yahoo
Ontario mom of 7 wins $5M lottery, plans to buy a Reuben sandwich from this Waterloo restaurant
Sarah Nellis just hit the jackpot — literally. The mother of seven won the $5 million top prize with the Instant Mega lottery game, and already has big plans for her windfall. But first, she'll be treating herself to a Reuben sandwich from The Daily Grill in Waterloo, Ont. Along with the delicious meal, Nellis is also looking forward to purchasing an accessible home and buying more Mega tickets. 'This win comes with a sense of relief,' said Nellis, while visiting the OLG Prize Centre in Toronto to pick up her windfall. 'It truly feels like a Christmas miracle.' She purchased her winning ticket at 7 Days Mini Mart on Phillip Street in Waterloo and discovered her life-changing win using the OLG app. 'I was certainly surprised when I saw that I'd won the top prize,' said Nellis. As a longtime lottery player, Nellis enjoys playing Instant games and was overjoyed to share the news of her first mega win with her family. 'I shared the good news with my mom and my kids by sending them a screenshot of the winning message and asking them to check their phones,' she said. 'Everyone was shocked!' Instant Mega is available for $50 a play, with a top prize of $5 million. It's a scratch-and-win game where players uncover symbols to see if they match the winning ones. Each ticket contains 10 games, and the farther you progress, the higher the prize. The odds of winning any prize are 1 in 3.15, with over 2.2 million prizes available. For Nellis, this win represents more than just a financial boost — it's an opportunity to enjoy life's little pleasures, starting with that delicious Rueben sandwich. If you're looking to take a break from gambling, self-exclusion programs can be effective tools. See here for resources that are available across Canada.
Yahoo
28-01-2025
- Business
- Yahoo
Ontario mom of 7 wins $5M lottery, plans to buys a Reuben sandwich from this Waterloo restaurant
Sarah Nellis just hit the jackpot — literally. The mother of seven won the $5 million top prize with the Instant Mega lottery game, and already has big plans for her windfall. But first, she'll be treating herself to a Reuben sandwich from The Daily Grill in Waterloo, Ont. Along with the delicious meal, Nellis is also looking forward to purchasing an accessible home and buying more Mega tickets. 'This win comes with a sense of relief,' said Nellis, while visiting the OLG Prize Centre in Toronto to pick up her windfall. 'It truly feels like a Christmas miracle.' She purchased her winning ticket at 7 Days Mini Mart on Phillip Street in Waterloo and discovered her life-changing win using the OLG app. 'I was certainly surprised when I saw that I'd won the top prize,' said Nellis. As a longtime lottery player, Nellis enjoys playing Instant games and was overjoyed to share the news of her first mega win with her family. 'I shared the good news with my mom and my kids by sending them a screenshot of the winning message and asking them to check their phones,' she said. 'Everyone was shocked!' Instant Mega is available for $50 a play, with a top prize of $5 million. It's a scratch-and-win game where players uncover symbols to see if they match the winning ones. Each ticket contains 10 games, and the farther you progress, the higher the prize. The odds of winning any prize are 1 in 3.15, with over 2.2 million prizes available. For Nellis, this win represents more than just a financial boost — it's an opportunity to enjoy life's little pleasures, starting with that delicious Rueben sandwich. If you're looking to take a break from gambling, self-exclusion programs can be effective tools. See here for resources that are available across Canada.
