Latest news with #PeterThomas
Western Telegraph
4 days ago
- Business
- Western Telegraph
Diversions as Haverfordwest's Instagrammable bridge goes in
The bridge is part of the £25.4 million Heart of Pembrokeshire project to revitalise Haverfordwest and will span the water between the Riverside and Western Quay. Sections of the striking footbridge were delivered from the fabricator's workshop to County Hall in May this year when sections were assembled in situ, with a 220-ton crane also on site. (Image: Atkins Ltd) The bridge with its distinctive honeycomb design has been described as 'signature' and, subsequently, 'Instagrammable'. The bridge has come under considerable scrutiny by councillors with concerns about the bridge and potential costs being raised more than once in chamber. (Image: Peter Thomas) In April the council's Welsh Conservative group and the Independent Group both called for the decision to award the bridge contract to be scrutinised further. (Image: P Biebrach) Conservative group leader Councillor Di Clements, asked said that 'given its sizeable cost estimation and the high public interest in the matter, the Welsh Conservative group believe that this decision deserves full and proper scrutiny at committee level.' The bridge will replace the current arched red and black footbridge leading from the Riverside to the Western Quay. (Image: Google maps) That footbridge in now closed an diversions are in place while preparation work takes place. (Image: Pembrokeshire County Council) The new bridge is due to be installed this weekend, Saturday, August 16 and Sunday, August 17. During the weekend a larger section of footpath will be closed, and diversions will remain in place. There will be an exclusion zone to allow for installation works. (Image: Pembrokeshire County Council) Path closures and diversions are available to view on the maps above.
Mint
07-08-2025
- Business
- Mint
Gold has been on a hot streak. But before you cash in, here's what to know.
Gold investors may be looking to cash in on the metal's rally over the past few years. But many of them may not be aware that it can get pretty complicated. Selling gold is a straightforward transaction for buyers who purchased gold-mining stocks or gold-equity mutual funds and exchange-traded funds. However, investors looking to sell physical gold bars and coins will have to find a buyer, and sellers of physical gold and ETFs backed by physical gold or gold futures face potentially higher tax bills than those selling gold-related stocks and funds that hold such stocks. With gold prices up 24% on an annualized basis over the past three years—at around $3,400 an ounce recently—here's what to know about selling your gold holdings and the tax treatment. It became easier to buy gold when nontraditional retailers such as Costco began selling bars and coins, but many such sellers won't buy back the metal, so investors need to find a buyer. Experts say sellers should look for a dealer—whether online or at a local shop—who has been around at least 10 years. Dealers generally don't list how much they will pay to buy gold, so sellers will need to reach out to dealers individually to get price quotes. Chris Blasi, founder of Neptune-GBX, a precious-metals dealer in Wilmington, Del., says dealers often quote a price that is a certain percentage above or below the prevailing spot market price, known as a premium or discount. In normal market conditions, most dealers' prices will be similar for bullion coins. For example, a dealer may offer to pay a 3% premium over the spot price for a 1-ounce American Eagle gold bullion coin. Premiums and discounts will vary daily based on a variety of factors including market activity, the brand of coin or bar, and the weight. Delivering gold holdings to dealers can be tricky. Some online dealers will pay for secure shipping and send instructions to securely mail the gold. If not, individuals will have to send their gold through the U.S. post office and insure their holdings; neither FedEx nor UPS allows individuals to ship precious metal. Once dealers test the metal's purity, they will sell the gold and record the spot price, adding or subtracting the agreed-upon premium or discount to determine the final sale price, says Peter Thomas, chairman of offshore development for Ausecure, a precious-metals dealer in Chicago. Because gold prices can be volatile, the price sellers receive may be higher or lower than the initial quote. Local coin shops are another option to sell gold, especially for small amounts as online dealers usually have a minimum transaction amount—about $1,000 to $2,000. But be mindful of collectible value before selling gold coins you may have inherited or picked up, as numismatic coins sought by collectors can command higher prices than bullion coins. There are various tax implications for owning gold, depending on how long an investor has owned the asset and the type of investment. Sales of gold-mining stocks, whether individual stocks or in mutual funds or ETFs, or physical gold are taxed as ordinary income if the assets are held for less than a year. Gold equities held for longer than one year are subject to standard long-term capital-gains taxes, which is capped at 20%. Long-term holdings of physical gold are taxed at a higher rate, as the Internal Revenue Service considers gold and other precious metals to be collectibles. This tax treatment also affects investors who bought gold-backed ETFs, such as SPDR Gold Shares (GLD). For someone in the highest tax bracket, the rate could be as high as 28%, says Brian Schultz, tax partner at Plante Moran in Southfield, Mich. Investors in lower tax brackets pay the same rate as their income tax, such as 22% for those in that tax bracket. ETFs that track gold-futures contracts, such as Invesco DB Precious Metals Fund (DBP), are commodities pool funds and have an unusual tax treatment. These are typically structured as limited partnerships and are subject to mark-to-market tax reporting, so ETF owners will pay taxes at the end of the calendar year even if they didn't sell the ETF. Another thing to be aware of: If you sold coins or bars, you might not get a tax form from the precious-metals dealer. Regardless, investors need to report any capital gains (or losses) at tax time, says Miklos Ringbauer, founder of MiklosCPA in Southern California. Sellers will need to dig out purchase receipts to determine their cost basis. Anyone who sold gold coins they received as gifts should ask the gift-giver, if possible, for a cost-basis estimate since that amount will transfer to the receiver. Debbie Carlson is a writer in Chicago. She can be reached at reports@
Western Telegraph
31-05-2025
- Business
- Western Telegraph
Haverfordwest's new Riverside footbridge takes shape
The bridge will span the water between the Riverside and Western Quay, and delivery of its sections began last Tuesday, May 27. The structure has been described as 'signature' and, subsequently, 'Instagrammable'. The cost of the Pembrokeshire County Council-driven bridge project and associated works is £5.7million. The bridge has been delivered in sections. (Image: Peter Thomas) It's part of the £25.4 million Heart of Pembrokeshire project to revitalise Haverfordwest. Sparks fly as welding work takes place. (Image: Peter Thomas) Since earlier this week, the bridge has been delivered in sections to the site from the fabricator's workshop in Cardiff, with a 220-ton crane also on site. The delivery work has spanned four days this week. (Image: The final delivery was due to take place on the afternoon of Friday May 29. An impression of how the installed bridge will look. (Image: Atkins Ltd) Pembrokeshire County Council said: "The bridge will be assembled and final finishing applied for installation in mid-August." It's certainly a distinctive design. (Image: Peter Thomas) The authority has been contacted for further information about the progress of the work.
Yahoo
26-05-2025
- Entertainment
- Yahoo
RHOA Alum Peter Thomas Checks in at Prison With Warning
Clankity clanky! Another reality star has entered the federal prison system. Real Housewives of Atlanta alum Peter Thomas just turned himself in to serve an 18-month sentence. The ex-husband of Cynthia Bailey took a plea deal for his role in a tax fraud scheme. Now, the disgraced restaurateur has a warning for anyone who is thinking about following in his footsteps. Of course, Peter is no stranger to financial problems after having faced multiple lawsuits and closures over the years for his various businesses. It all caught up to him last year when federal prosecutors accused him of stealing $2.5 million of payroll taxes from his employees. The prosecutors said, 'Thomas's flagrant violation of his federal payroll tax obligations over many years that served to unjustly enrich his companies and himself by more than $2.5 million and deprive the federal government funds used to provide important retirement and disability benefits to employees.' Peter wound up taking a plea deal, meaning he only has to serve 18 months in prison. He kicked off Memorial Day Weekend 2025 by surrendering himself to the Federal Bureau of Prisons. He shared a photo from outside the prison along with a message for other aspiring business owners. 'All my people told me not to post this, that I am crazy if I do, I am not CRAZY, just real as f*ck,' Peter wrote on Instagram. Anytime a post starts with a caption like that, you know you're in for a doozy. Sure enough, Peter went on to type up a lengthy caption urging other business owners to pay their taxes. He doesn't want to see other entrepreneurs wind up behind bars like him. 'The first thing I must say to all new business owner [sic], please pay that withholding tax, you do not want to be in the position that I am right now, THE LAW IS THE LAW,' he added. According to Peter, who is 64 years old, the next 18 months are going to be a 'new chapter' in his life. He said he wants to be an example of accountability and responsibility for his '3 black son [sic].' After sharing that touching message, Cynthia's ex was whisked away to carry out his sentence. We'll see you in 2026, Peter. The Real Housewives of Atlanta airs on Sundays at 8/7c on Bravo. TELL US – DO YOU HAVE ANY WORDS OF SUPPORT FOR PETER AS HE BEGINS HIS NEW CHAPTER? DO YOU THINK HE WILL HAVE TO SERVE HIS FULL 18-MONTH SENTENCE? The post RHOA Alum Peter Thomas Checks in at Prison With Warning appeared first on Reality Tea.
Telegraph
08-04-2025
- Business
- Telegraph
Cardiff Rugby players told club to enter administration
Cardiff Rugby is seeking to enter into administration after players were informed of the Welsh club's financial crisis in a meeting on Tuesday afternoon. The club are set to file a note of intent to enter into administration as part of the fallout following the death of their long term benefactor, Peter Thomas, in March 2023. Thomas ploughed millions into the regional entity from its inception in 2003 up until his death at the age of 79 in March 2023, when new investors were sought to keep the club afloat. Helford Capital Limited, led by British businessmen Phil Kempe and Neal Griffith, completed their takeover after the investment group acquired an 84.55 per cent shareholding in the club in January 2024. However, the players and staff at the club were called to a meeting in the Sir Gareth Edwards Lounge at 2.30pm on Tuesday to hear from chief executive Richard Holland, with those not able to attend in person invited to join via Zoom. Holland informed employees that the club will be placed in administration within the next 24 hours. It's understood that the Welsh Rugby Union have taken steps to place the club under their control. This week it was revealed that Griffith was the former chief executive and shareholder of financial services venture, Optima Worldwide Group, that went into liquidation in 2021 owing creditors £37 million. The liquidation process for that company is ongoing. The financial turmoil at Cardiff will be all too familiar to the players, who were faced with a severe downturn in payments back in 2023 as the financial picture worsened coming out of Covid. The WRU payment to the regions dropped from £7.2 million in the 2022-23 season to £5.2 million in the next season and then to £4.5 million for this campaign. Players were told that wages would be slashed, with some being offered as little as £30,000 for a year having previously earned more than £100,000. Some left for other clubs, while others looked for different professions. Rugby finance issues Against this background the WRU has been trying to drive through a new six-year Professional Rugby Agreement with its four professional clubs. CEO Abi Tierney has been promising to reach a final agreement for some time and this latest hiccup is likely to lead to further delay. Both the Scarlets and Ospreys posted losses for the last financial year at the end of last month. The Scarlets lost £2.59 million, down from £2.91 million the previous year, while Ospreys recorded a £2.18 million loss, slightly up on the previous year's figures of £2.15 million. It is understood Tierney had a meeting with the management board of the Cardiff Athletic Club (CAC), who own the lease to the Arms Park and have the Cardiff RFC club side as a constituent member, on Monday night to confirm the WRU intentions to take over the running of Cardiff Rugby. While CAC have been reluctant to agree a new long term lease with Cardiff Rugby they are believed to be much happier to work in conjunction with their neighbours at the WRU. Granting them an extended lease could allow the two parties to work in tandem to develop one of the most prize city centre sites in the Welsh capital.
