Latest news with #financialpressure
Yahoo
5 days ago
- Business
- Yahoo
Prince Harry And Meghan's 'Peace Talks' Have A Lot To Do With Their Expiring Netflix Deal, Expert Claims
Speculation of a reconciliation between Prince Harry and King Charles is growing amid reports that the duke and his wife, Meghan Markle, will not be renewing their $100 million deal with Netflix. Royal experts suggest financial pressures may be prompting the Montecito-based couple to reconnect with the monarchy. Meanwhile, Prince Harry and Meghan's underperforming Netflix projects and past loss of their Spotify deal raise questions about sustaining their lifestyle without royal support or new lucrative deals. Royal Expert Links Prince Harry's Reunion Talks To Expiring Netflix Deal A Royal expert has weighed in on the growing speculation surrounding potential reconciliation talks between Prince Harry and King Charles, offering a theory that ties the rumored peace efforts to the Duke and Duchess of Sussex's fading Netflix deal. Recent sightings of senior aides from both camps meeting in London have fueled rumors that discussions are underway to mend the strained relationship. Speaking on The Sun's "Royal Exclusive" show, author and royal commentator Robert Jobson suggested that the timing may not be coincidental. According to Jobson, with Harry and Meghan's multi-million-dollar Netflix contract reportedly approaching its end, the couple may be seeking renewed financial support from the monarchy. "Well, the deal was always set at about $100 million, wasn't it?" he explained, noting that much of the money was tied to specific production obligations. "And the talk of that figure sort of blew a lot of people's minds, but I think that was for productions and things that they're supposed to have done." He added, "Where does it leave them? Probably with a bit of a bowl out, looking for some handouts. Maybe that's why they were over with their staff, they were over here having discussions with the King. I don't know." Royal Experts Question How Prince Harry And Meghan Markle Will Fund Lavish Lifestyle After Losing Major Deals Jobson continued his commentary by highlighting the financial challenges the Sussexes may now be facing. "The reality is in the past they got support from the King and the late Queen, and they said they were going to go and make their way," Jobson noted. "They've lost Spotify, they've lost Netflix. They can't rely on the spare money forever, can they?" Also weighing in during the segment was Sky News' Royal correspondent Rhiannon Mills, who raised similar concerns about the couple's future income. With their Netflix contract set to expire in September, Mills questioned how they plan to maintain their costly lifestyle. "It's just fascinating," she remarked. "They have this very expensive lifestyle. They have to pay for their security and pay for that big mansion. How do you kind of keep the money coming in?" Meghan Markle's Independence May Pave Way For Harry's Reconciliation With King Charles, Says Royal Expert Meanwhile, one royal expert believes that any reunion between Harry and Charles is unlikely to fully reintegrate him into the royal fold. According to royal historian Dr. Tessa Dunlop, it could be Meghan's focus on building her own independent career that's prompting Harry to revisit family ties. In an interview with The Mirror, Dunlop suggested that Meghan appears content far from palace life, and that could be opening the door for Harry to reconnect. "Love her or loathe her, Meghan has found her happy place and it has nothing to do with the Royal Family," Dunlop said. "As Ever, raspberry jam, beige ensembles, and over-emotive podcasts might not be your thing, but they are working for California's Princess." She added that Meghan's self-sufficiency could actually help ease tensions between Harry and his father: "And before any bilious naysayers butt in, this is good news for a future rapprochement between Harry and the King. The two men have a chance to work things through. And surely everybody wants that?" Prince Harry And Meghan Markle's Netflix Deal To End Amid Poor Viewership Recently, reports surfaced indicating that Netflix has opted not to renew its multi-year partnership with Harry and Meghan, which is set to expire in the coming months. The original deal, signed in September 2020, was estimated to be worth around $100 million and aimed to produce a range of content for the streaming giant. Throughout their collaboration, the Sussexes released three key projects: their docuseries "Harry & Meghan," Meghan's lifestyle show "With Love, Meghan," and a documentary centered on Harry's passion for polo, simply titled "Polo." However, despite the high-profile nature of the partnership, the couple's projects reportedly underperformed. "With Love, Meghan" placed 383rd in Netflix's viewership rankings, while "Polo" fell even further, landing in 3,436th place with only around 500,000 views. Netflix Execs Feel 'They've Got All They Can' From The Sussexes, Source Claims Harry and Meghan's decision to pursue deals with streaming platforms was addressed by the prince during the couple's 2021 interview with Oprah Winfrey. At the time, he revealed that financial independence became urgent after the Royal Family cut them off, leaving them to cover their own security expenses. That was "never part of the plan," Harry said of their commercial ventures. "That was suggested by somebody else by the point where my family literally cut me off financially, and I had to afford security for us." Now sources claim Netflix is done with the couple as "they've got all they can" from the Montecito-based royals. "They're not unhappy with how things turned out — they got those initial hits, and produced one of the most talked-about shows of all time," a source told The Sun. "The content got weaker from there on, but, frankly, for £20million a year, anything was better than nothing." Solve the daily Crossword
Yahoo
6 days ago
- Business
- Yahoo
Bath Rugby finances revealed following Gallagher Premiership win as sport faces 'crisis'
Bath Rugby is facing mounting financial pressure, along with all the clubs in the Gallagher Premiership, as experts warn over the future of the sport. Despite a historic win for Bath in June, which saw the South West side take its first title in 29 years, off the pitch there is less to celebrate. Bath Rugby Limited - the operating company behind the club - is millions of pounds in debt. The company turned over £20.8m for the financial year ending June 30, 2024. This was up on the £19.7m the year before, but it still made a loss of £3.6m, while its net debt stood at £17.2m. Rugby has long been reliant on owners and benefactors to cover ever-mounting debt burdens. Three major clubs - Wasps, Worcester Warriors and London Irish - have already disappeared from the Premiership after collapsing in the 2022-23 season, but it is 'not impossible' that more could go under if changes are not made, one sports finance expert has warned. READ MORE: Police enforce 48-hour ban in Bath city centre READ MORE: Bath Rugby's 2025/26 Gallagher Prem fixtures in full Analysis of Companies House documents by our sister site Business Live reveals that each of the teams in the Gallagher Premiership was in the red for the financial year ended June 30, 2024. Runners up Leicester Tigers, who were defeated by Bath at the Allianz Stadium in Twickenham by just two points (23-21), did not fare much better. The club's operating company Leicester Football Club Plc made a loss of £3.5m for the period - up from £1.4m the year previously - despite turnover increasing to £21m from £19.4m the year before. According to a rugby finance report published by Leonard Curtis last year, while some teams may break even or turn a small profit in the next couple of years, the prospect of the current overall loss-making trend being reversed looks slim. Dr Ellie Nesbitt, a senior lecturer in sports management at Nottingham Trent University, says rugby is not operating in the capacity it needs to. "Rugby clubs need to be operating as businesses," she said. "It's about commercialising and hospitality is key. Some clubs are much better with big events, and they can thrive, but you also have clubs that don't have the facilities to do that. "The sport is going to have to change it's approach. It's a short-term fix having owners and benefactors responsible for funding - and debts. These individuals clearly love the sport or the team - and you see that all the way through the structure, not just the Premiership. [But] it's not sustainable and over time we will see that play out even more." Many of the Premiership clubs would, in fact, be 'defunct' if they were 'normal businesses', says Christina Philippou, associate professor in accounting and sport finance in the School of Accounting, Economics and Finance at the University of Portsmouth. 'Rugby at the very basics is a loss-making industry and 60 per cent [of clubs] are technically insolvent,' she told Business Live. Professor Philippou says broadcasting deals and competition from countries like France, drawing top players out of the league with tax incentives, has proved challenging for the sport. 'Rugby is [also] shooting itself in the foot by going behind a paywall with broadcasting deals. People need to be able to watch it. 'You can do that by splitting broadcasting agreements or being clever with digital content to get people interested in the club game, and then that can pull through into actual money.' But she says clubs losing money does not necessarily sound "the death knell' for the Premiership, and that rugby could learn some lessons from cricket. 'Tapping into other formats might be a way forward for the sport,' she explained. 'That is how cricket is rejuvenating itself as it had a similar issue.' 'There is a crisis' Rob Wilson, a professor of applied sport finance and director of specialist sports consultancy Play it Forward, believes the salary cap - the limit on the total amount of money clubs can spend on players' wages each season - is still too high. For the 2025-26 season, the Premiership has confirmed the salary cap is £6.4m, with a number of credits and exclusions, meaning that clubs can spend at least £7.8m plus an excluded player salary. 'A lot of clubs see it as a target rather than a limit and then they overspend,' Professor Wilson told Business Live. 'Clubs need to start spending less than they earn on a cost basis.' He added: 'There is a crisis with three teams going out of business and a shortening of the league. I think they should close off the league for a while and focus on the top 10 clubs. It wouldn't be a popular decision but it would be a sensible one." All the clubs were contacted for comment, but no statements were provided. Financial status of England's Premiership rugby clubs Bath Rugby Year ended June 30, 2024 Operating company: Bath Rugby Limited Turnover: £20.8m Loss for financial year: £3.6m Bristol Bears Year ended June 30, 2024 Operating company: Bristol Rugby Club Limited Turnover: £11.9m Loss for the financial year: £4.8m Gloucester Rugby Year ended June 30, 2024 Operating company: Gloucester Rugby Limited Turnover: £14.9m Loss for the financial year: £516,355 Leicester Tigers Year ended June 30, 2024 Operating company: Leicester Football Club Plc Turnover: £21m Loss for the financial year: £3.5m Sale Sharks Year ended June 30, 2024 Operating company: Manchester Sale Rugby Club Limited Turnover: £9.1m Loss for the financial year: £7m Saracens Year ended June 30, 2024 Operating company: Saracens Limited Turnover: £22.7m Loss for the financial year: £7.5m Northampton Saints Year ended June 30, 2024 Operating company: Northampton Saints Plc Turnover: £21.9m Loss for the financial year: £826,024 Harlequins Year ended June 30, 2024 Operating company: Harlequin Football Club Limited Turnover: £29.3m Loss for the financial year: £1.86m Exeter Chiefs Year ended June 30, 2024 Operating company: Exeter Rugby Club Limited Turnover: £21.6m Loss for the financial year: £876,112 Newcastle Falcons Accounts currently overdue for the year ended June 30, 2024. Last accounts available made up to June 30, 2023 Operating company: Newcastle Rugby Limited Turnover: £11.2m Loss for the financial year: £2.3m
Yahoo
6 days ago
- Business
- Yahoo
I'm a 50-year-old single mom and my finances are in shambles — with $80K of debt and no savings, where do I even start?
When juggling the responsibilities of life as a single parent, it can be easy to slide into debt. Sarah, for example, recently turned 50, is a single parent of two and has $80,000 in debt total. She owes $55,000 on her credit cards and an additional $25,000 that she missed paying on taxes, not including the total she owes on her mortgage. Her credit card debt alone is larger than the average American household's credit card balance of $6,065. In terms of overall debt, the latest data from the Federal Reserve shows that the average U.S. household debt is just over $105,000 per household, but this includes mortgages as well as auto loans, student debt, credit cards and other forms of personal debt. Beyond the almost $2,000 per month in debt payments, Sarah also needs to cover her $2,100 mortgage payment. With retirement age on the horizon, she feels like she's drowning under mounting financial pressures. And without savings or retirement funds, she wants to map out her next steps carefully. For Sarah, bankruptcy is off the table, but she still wants to find a way forward. So. here is what she — and you — could do next, when faced with such a situation: Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how 1. Evaluate your finances and set a realistic budget When facing a mountain of debt, the first step is to assess the situation. Gain clarity by tracking each of your expenses and income. This will give you a realistic picture of where you stand with your expenses and income, help you plan ahead and stretch every dollar as far as it can go, while helping you eliminate any unnecessary spending. Next, build a bare-bones budget that allows you to cover all of your basic needs. With this in place, ratchet down your spending. Move on to actually eliminate any unnecessary spending. This will alter your lifestyle and feel uncomfortable, but it doesn't have to last forever if you do it right. Take a closer look at your largest expenses. For most Americans, housing, transportation and food represent the biggest line items in any budget. Start by taking a look at your housing expenses and how they ladder up to your long-term financial goals. Sarah is a homeowner with a $2,100 monthly mortgage payment and $100,000 in home equity. If you don't want to relinquish homeownership, then refinancing your mortgage to lock in a lower payment could help. Downsizing or renting out a room may be other ways to help offset housing costs. If you aren't married to the idea of homeownership, then look into the cost of renting a reasonable place to call home. Selling your property with $100,000 in equity would help you wipe your debt in the quickest way possible. Beyond potentially paring down your housing costs, evaluate your transportation costs. If you drive a relatively expensive vehicle, swap it out for a more affordable ride. You may also want to consider remote work, if this is possible for you, as this would further free up both any time and money spent on commuting. Lastly, try to meal plan once a week, so you only buy the groceries you need (preferably at discount or cheaper grocery stores), avoiding dining out. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it 2. Make a debt repayment plan After making adjustments to your spending habits, it's time to make a debt repayment plan. Starting with the tax debt, consider applying for an IRS payment plan to break down your large tax bill into more manageable monthly payments. Next, tackle your credit card debt. If you have the debt spread across multiple credit cards, start by making a list of each balance and the attached interest rate. Common repayment strategies include the [snowball or the avalanche methods] (). The snowball method involves putting all available cash toward the smallest balance so you rid yourself of that first before moving onto the next one, while the avalanche method tackles the balance with the highest interest rate first. Technically, the avalanche method is more mathematically efficient, reducing the total amount of money you pay on interest but the small wins of the snowball method might give you the motivation to stick to the plan. Refinancing offers another way to manage debt repayment. Typically, personal loans come with significantly lower interest rates than credit cards. If you can refinance your debt into a single larger 'consolidated' loan with a lower fixed interest rate, a home equity-based loan (or HELOC) or a transfer balance card, this may allow you to pay down your balance more quickly without added costs. Lastly, while this isn't an option for Sarah, you may want to explore Chapter 13 bankruptcy. 3. Look to the future Picking up extra income can help you make headway in your debt repayment faster. And, if you take on a side hustle, you aren't alone; more than half of Americans have one. Some possible side gigs include delivering groceries or meals, tutoring, freelancing graphic design or writing. You may even consider a more traditional part-time job at a small business in your area. Depending on the age of your children, you can involve them in contributing with their own part-time job to help cover their non-essential expenses or as a way to contribute to their education fund. Once you've made headway in reducing your debt, it's time to start shoring up your emergency fund. Experts suggest saving three to six months of expenses. This will help you have enough to cover unexpected expenses without sliding back into debt. With these blocks in place, you can divert funds to help pay off your mortgage faster and even start saving for your retirement. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
South China Morning Post
22-07-2025
- Business
- South China Morning Post
As China's public bus companies bleed cash and lose riders, are rides for pets the answer?
With public bus companies across China struggling to keep the wheels going round and round amid rising financial pressures and declining ridership, some are embracing innovative and unorthodox measures – such as repurposing their idle fleet for delivery services, or allowing pets as passengers. Zhengzhou Public Transport Group, which serves the capital city of Henan province, is among the latest to adopt an emerging 'bus-plus-logistics' business model, having announced a partnership with courier giant SF Express earlier this month. The two companies will explore leveraging idle bus capacity, such as during off-peak hours or when vehicles are unused out at night, to fulfil urgent intracity deliveries, according to a statement by SF Express. The initiative comes as the Zhengzhou Public Transport Group faces mounting financial woes. In 2024, its year-on-year revenue fell by 8.38 per cent, while its operating losses deepened by 286 per cent – from 3.03 million yuan in 2023 to 11.7 million in 2024 – according to financial data provider Wind. And it is not the only bus company under financial strain. Bus ridership has been decreasing across China in recent years, driven by a shift towards alternatives such as undergrounds, bike-sharing and ride-hailing services. Official data showed that China's public bus and trolleybus passenger volume stood at 38.67 billion in 2024. That was only slightly more than half of all passenger trips recorded in 2019 – a level that had already been on the decline.
Daily Mail
22-07-2025
- Business
- Daily Mail
Del Taco franchise goes bankrupt sparking closure fears
A Del Taco franchise took a risky, million-dollar move. Now, it's bankrupt. Matador Restaurant Group, a South Carolina-based operator of Del Taco locations in Georgia and Alabama , filed for Chapter 11 protection last week. It's the latest restaurant brand to collapse under financial pressure. The past year has been notably brutal for chains that cater to low- and middle-income diners. And it adds to a string of troubles for Del Taco itself. The brand — which competes with Taco Bell and offers $3 to $15 meals like steak tacos, guacamole and chicken burritos, and breakfast wraps — has struggled with falling sales. '[Expletive], I like the fish tacos,' one Del Taco fan said on Reddit. In court filings, Matador blamed its filing on a web of weaker-than-expected sales and high-interest cash advances. The company's financial spiral began in late 2024, when it was hit by a triple threat: declining revenue, surging operational costs, and rapid expansion. To stay afloat, Matador took out over $2.7 million in merchant cash advances (MCAs) from nine different lenders. But the short-term loans came with steep fees and aggressive repayment terms. Lenders began siphoning money directly from the company's accounts, choking cash flow and making daily operations impossible. In its bankruptcy filing, Matador declared between $1 million and $10 million in both assets and liabilities. Matador is owned by Red Door Brands, which also operates Little Caesars, Arby's, and McAlister's Deli locations in the Southeast. But only the Del Taco business ran into trouble. So far, the company hasn't announced any closures related to the filing. Matador operates most of the Del Taco restaurants in Alabama, though a recently opened location in Huntsville is not part of the brand. Del Taco national sales aren't faring much better. The chain, which has about 600 restaurants nationwide, has logged five straight quarters of same-store sales declines. Parent company Jack in the Box — which acquired the brand for $585 million in 2022 — is now actively seeking a buyer. Matador is the second major Del Taco franchisee to declare bankruptcy in the past year. In February, Newport Ventures, which operated 18 Colorado restaurants, shuttered all of its locations after three months in court. The parent company started reopening 17 of those locations in June. Del Taco and Red Door Brands didn't immediately respond to requests for comment. They're not alone in the restaurant industry fallout. Several other iconic fast food and fast casual eateries have recently plummeted into bankruptcy court.
