| Economic Secretary welcomes contribution to debate on savings and debt
Economic Secretary to the Treasury Kitty Ussher MP today welcomed the publication of The Fawcett Society's report on women's financial assets and debt, saying it provided a useful insight into the differences between men and women's consumption of financial services and added to the ongoing debate on saving and debt. The Fawcett Society's report investigated whether there is a savings and debt gap between men and women in addition to the well-documented income gap, and to understand the factors that drive this gap. Kitty Ussher said: "The Government is committed to rooting out unfairness across society and we have been actively engaged with the Fawcett Society throughout the project. We are already making progress but there is further to go. Recent policies such as pensions reforms, the Child Trust Fund and the Saving Gateway pilots have had a positive impact on gender outcomes, while important steps forward are being made with the financial inclusion and financial capability agendas." Government policies that will help to address gender inequalities include: The Pensions Act 2007 The Act will allow women to receive higher state pension entitlements with almost half a million extra women over State Pension Age entitled to a full basic State Pension in 2025.
Fitch Rates Interpublic Group's Exchange Notes 'BB-'; Outlook Stable
Fitch Ratings has assigned a rating of 'BB-' to Interpublic Group's (IPG) $200 million 4.75% convertible senior unsecured notes due March 15, 2023. The new notes rank pari-passu with other senior unsecured IPG debt. The Rating Outlook remains Stable. Fitch rates IPG as follows: --Issuer Default Rating (IDR) 'BB-'; --ELF notes 'BB-'; --Senior unsecured notes (including convertibles) 'BB-'; --Cumulative convertible perpetual preferred stock 'B'. IPG said Thursday that it has agreed to exchange half ($200 million) of its old $400 million, 4.5% convertible senior notes due 2023 for $200 million, 4.75% new convertible senior notes due 2023. This exchange enhances the IPG's financial flexibility by extending the first put date on the new securities to March 15, 2013 from March 15, 2008.
Corzine: Toll road plan would slash state’s debt in half
ATLANTIC CITY � Gov. Jon S. Corzine�s plan to wring billions of dollars out of the state�s toll roads would cut the state�s borrowing debt in half and provide permanent funding for transportation projects, the governor said today. His proposal will also include new limits on state debt, which currently stands at $32 billion, not counting unfunded obligations such as $75 billion for the future cost of public employee benefits. .
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Some 24 percent of 18 to 24-year-olds consider taking on debt to go to university pointless and 26 percent of parents aged 45-54 agree, the poll of 2,271 people shows. Universities Secretary John Denham announced earlier this month that about 50,000 more students every year will benefit from full maintenance grants worth over 2,800 pounds to help them make ends meet while they study. Graduates will be able to take a break from repaying their loans for up to five years to help them buy a house or start a family, he added. However, the National Union of Students says that tuition fees and rising living costs mean students can leave university in up to 30,000 pounds of debt. Against this backdrop, 82 percent of young people surveyed by Engage Mutual say they recognise the importance of going without today to save for tomorrow, compared to 61 percent of grandparents.
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