Connect with us

Stock Market

Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

Published

on

Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Market

US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

Published

on

By


© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,'” Cavulich said.

Source link

Continue Reading

Stock Market

Is a Royal Caribbean or Carnival beverage package worth it?

Published

on

By

An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



Source link

Continue Reading

Stock Market

Analysis – Citgo May Face New Turmoil Amid Political Changes In Venezuela By Reuters

Published

on

By


© Reuters. FILE PHOTO: Citgo Petroleum refinery in Sulfur, Louisiana, US, June 12, 2018. REUTERS/Jonathan Backman/File Photo

By Mariana Baraga

HOUSTON (Reuters) – Oil refiner Citgo Petroleum could face changes to its oversight board, causing it to review its plans after Venezuela’s opposition-led National Assembly voted on Friday to dissolve an interim government and appoint a commission to oversee the country’s foreign assets, including Citgo.

Venezuela-owned Citgo, a unit of state oil company PDVSA, has been run since 2019 by congressional-appointed boards led by opposition leader Juan Guaido, who was recognized by Washington as Venezuela’s legitimate leader and ousted on Friday.

Citgo did not immediately respond to a request for comment.

A spokesman for the US National Security Council said President Joe Biden’s administration will continue to support Venezuela’s interim government “no matter what form it takes.” He did not comment on whether this support includes extending key protections for Citgo under the new structure.

While Guaido’s government has been mostly powerless at home where socialist President Nicolás Maduro exercises control over nearly all institutions, including the security forces, it has overseen the country’s foreign assets and numerous embassies.

The United States has so far blocked efforts by creditors to seize the South American country’s foreign assets to recover unpaid debts owned by Venezuela, including blocking efforts by a U.S. judge to conduct an auction of shares of U.S. parent company Citgo.

Executive orders expire

But a set of US executive orders that prevented Citgo parent shares from being auctioned off by a Delaware court are set to expire next year. Washington warned opposition representatives this year that the loss of an apparent interim leader could jeopardize that support.

Another possible scenario with the commission in charge: a new legal battle in the US over the legality of Citgo’s board of directors. In 2019, Maduro unsuccessfully challenged the board of directors appointed by Guaidó.

A federal court in 2020 certified the executives Guaido hired to run Citgo. But these executives have changed hands several times in the past four years, which has created uncertainty in the management.

“The institution of the provisional government must be preserved,” said Horacio Medina, head of the ad hoc PDVSA board that oversees all PDVSA units abroad. Otherwise, our position in defense of Venezuelan assets will be jeopardized.”

Since Citgo severed ties with its parent company, state-owned Petroleos de Venezuela controlled by Maduro, creditors have pursued claims and lawsuits seeking to auction off Venezuelan-owned assets, amid a revolving door of Citgo’s stewardship directors that has created uncertainty about the company’s direction.

Profits refund

After two years of losses, Citgo is on track to make a $2.5 billion profit this year, reflecting higher fuel prices due to strong demand and global shortages caused by Russia’s invasion of Ukraine. The seventh-largest US refiner said it plans to use the profits to pay down debt and invest in the reliability of its operations.

Earlier this year, most of Venezuela’s opposition parties agreed to a deal to hand over power in board appointments from Guaidó to a new super advisory council. But this entity did not form immediately after that.

Lawyers who advise Citgo’s supervisory boards have warned of the challenges of bringing a new government structure before US courts. Others said the proposed changes were simply unconstitutional.

“From now on, court cases will become more complicated for us,” Medina said before Friday’s vote, adding that the new government structure could result in the loss of embassies and entities that defend and represent Venezuelan-owned assets and Venezuelans in several countries. .

Source link

Continue Reading

Trending