Latest news with #cash
Yahoo
17 hours ago
- Business
- Yahoo
6 Places You Should Never Keep Your Money When Traveling This Summer
Though paper money has gone the way of the dodo in many respects, sometimes when you travel you just want some cold hard cash at hand to make life easier. While many people don't carry cash at all, others have go-to methods of storing their money. Read Next: For You: Whether you're a frequent or casual traveler, it's important to know where to keep your money so that it doesn't get lost or stolen while you're on your trip. Here are six places you should never keep your cash when traveling. You should be aware that when it comes to specific areas of storage on your bag or luggage, some are safer than others. For example, the back or outer pockets of your backpacks or luggage compartments are not the best place to keep your money while traveling. Not only do these places lack security, but they're also easily accessible to pickpockets. Check Out: Your hotel room might not be as secure as you think. Even if it's highly rated and in a safe area, you still shouldn't leave your money out in the open in your room. For instance, try not to leave your card on the side table of your hotel room when you go sightseeing or out for the day. You never want to leave your information or money vulnerable to being easily stolen. Alternatively, if you want to leave something in your room, opt for hotel room safes, as they are the best go-to choice for locking away passports, cash and valuables. One of the best investments you can make when traveling is in your peace of mind. Unfortunately, savvy thieves know how to spot tourists who can become targets if they know they have money and are ready to use any opportunity to steal it. Be careful when travelling abroad and try to distribute your money across several locations rather than keeping it all in one place. For example, instead of putting it all in your purse or wallet, try separating it to several safe spots so you don't have all your cash in one basket. Not only should you never keep money in your backpack's outer pockets, but also avoid the loose pockets of your clothing. Pants and coat pockets are places where money can easily fall out, or a thief can slip a hand in without being noticed. You can hide your money in more secure places or also try using zippered pockets and RFID-blocking pouches to deter thieves. Traveling with cash isn't necessarily a bad thing, but it can be more problematic if lost or stolen. With that in mind, carrying large bills might not be the best — or safest — option. Instead, try carrying around small bills and only having enough cash for wherever you are heading, and leave the rest back in the hotel safe. Some lesser-known or smaller travel destinations might not accept cards, so be prepared for this before taking your trip. More popular destinations, on the other hand, often have alternative payment options available if you don't want to have to worry about having cash on you. A person's wallet is one of the most common places to keep cash, making it a prime target for pickpockets. This doesn't mean you can't keep your money in your wallet at all — it just means you need to be smart about it as thieves are more prevalent in tourist-heavy cities. Don't make where you keep your money or wallet easy for them. Instead, keep your wallet in an interior pocket in your backpack or purse so that there are a few layers anyone would have to get through to reach it. Angela Mae contributed to the reporting for this article. More From GOBankingRates 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives The New Retirement Problem Boomers Are Facing This article originally appeared on 6 Places You Should Never Keep Your Money When Traveling This Summer
Russia Today
3 days ago
- Business
- Russia Today
Ex-central bank chief predicts Russia will never abandon cash
Russia is unlikely to ever give up cash, according to the former head of the country's central bank, who believes there will always be people who benefit from using it. In an interview with RTVI on Wednesday, Sergey Dubinin said that even as digital currencies develop, some market participants will always prefer cash transactions in order to avoid taxation. 'I don't think that in Russia, as in any other market economy country, all participants in transactions will prefer non-cash payments,' Dubinin said. 'There will always remain some percentage, possibly within 5-10%, who will prefer cash payments, including due to the ingrained habit of avoiding taxation.' He noted that large transactions will still be carried out using non-cash methods, adding that digital currencies are likely to be equated with electronic money, which will make them more convenient to use. Dubinin also highlighted the role of cash in providing banks with a source of funds. He explained that balances on current accounts, including credit cards, constitute 12-15% of total household deposits. These funds are available to banks at no cost, allowing them to be used for lending or investment purposes. Central Bank Governor Elvira Nabiullina said in April that non-cash payments in Russia had already reached 86% and predicted that the share of such payments could grow to 90% over the next three to five years. The Central Bank of Russia reported that cash circulation had increased by 5.1% last year, totaling ₽130.1 trillion (around $1.45 trillion). Deposits and withdrawals at banks' cash offices and ATMs amounted to ₽63.6 trillion (about $710 billion) and ₽66.5 trillion (around $740 billion), respectively. A poll conducted by the country's Public Opinion Research Center (VCIOM) last year found that more than half of Russians, especially young people and those who live in major urban areas, believe cash will no longer be used for daily transactions in 20 years. Almost 80% of respondents said plastic cards are simply easier and more convenient than cash. Only about 18% of Russians said they trust cards less than cash, citing reasons such as fear of losing them and a general distrust of banking services.
Russia Today
3 days ago
- Business
- Russia Today
Ex central bank chief predicts Russia will never abandon cash
Russia is unlikely to ever give up cash, according to the former head of the country's central bank, who believes there will always be people who benefit from using it. In an interview with RTVI on Wednesday, Sergey Dubinin said that even as digital currencies develop, some market participants will always prefer cash transactions in order to avoid taxation. 'I don't think that in Russia, as in any other market economy country, all participants in transactions will prefer non-cash payments,' Dubinin said. 'There will always remain some percentage, possibly within 5-10%, who will prefer cash payments, including due to the ingrained habit of avoiding taxation.' He noted that large transactions will still be carried out using non-cash methods, adding that digital currencies are likely to be equated with electronic money, which will make them more convenient to use. Dubinin also highlighted the role of cash in providing banks with a source of funds. He explained that balances on current accounts, including credit cards, constitute 12-15% of total household deposits. These funds are available to banks at no cost, allowing them to be used for lending or investment purposes. Central Bank Governor Elvira Nabiullina said in April that non-cash payments in Russia had already reached 86% and predicted that the share of such payments could grow to 90% over the next three to five years. The Central Bank of Russia reported that cash circulation had increased by 5.1% last year, totaling ₽130.1 trillion (around $1.45 trillion). Deposits and withdrawals at banks' cash offices and ATMs amounted to ₽63.6 trillion (about $710 billion) and ₽66.5 trillion (around $740 billion), respectively. A poll conducted by the country's Public Opinion Research Center (VCIOM) last year found that more than half of Russians, especially young people and those who live in major urban areas, believe cash will no longer be used for daily transactions in 20 years. Almost 80% of respondents said plastic cards are simply easier and more convenient than cash. Only about 18% of Russians said they trust cards less than cash, citing reasons such as fear of losing them and a general distrust of banking services.
Yahoo
25-05-2025
- Business
- Yahoo
What could happen if US Treasury phases out pennies?
Is the United States Treasury killing off the penny? Here's everything you need to know about the fate of the 1-cent, Abraham Lincoln-adorned currency. Published reports indicate the United States Treasury will stop circulating freshly minted pennies, beginning in early 2026. A separate report noted the United States Mint is producing its final batch of pennies. When the penny is eventually phased out completely, it will potentially lead to businesses and consumers not having enough pennies to make transactions involving cash. "Cash transactions will now be rounded to the nearest nickel, sparking debate over its impact on pricing and consumer spending," read NewsRadio's report. "While some economists argue that eliminating the penny will streamline transactions, others worry about pricing adjustments and the potential for inflationary effects." The Treasury Department assured consumers that existing pennies will remain legal tender, but banks, businesses and retail establishments are expected to begin phasing out the currency. Along with the U.S. Mint in Philadelphia, federal mints in Denver and San Fransisco have up until now minted pennies. The Philadelphia Mint is the nation's first. Aside from formerly minting pennies, the Philadelphia Mint also mints circulating coins, numismatic products, including annual uncirculated coin sets, commemorative coins as authorized by Congress and federal medals. Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region. This article originally appeared on Delaware News Journal: What could happen if US Treasury phases out pennies?
Sky News
22-05-2025
- Entertainment
- Sky News
Diddy trial live: Judge and lawyers joke about Kid Cudi's dog as sex-trafficking trial restarts
14:29:04 Asked to hold $50,000 cash Kaplan is being questioned by prosecutor Maurene Comey. He says he was "infrequently" asked to carry cash for Diddy, recalling one time in 2015 when he says he was asked "to hold" $50,000 cash by security. He also says he was asked to pick up $10,000 from Western Union that had been wired from Combs Enterprises, which he says he gave to Diddy, around two or three times. Kaplan clarifies that he is in court after being subpoenaed, and says he has an immunity order, meaning his testimony will not be used against him. He adds, "it does not protect me if I lie today". 14:16:17 Diddy's ex-assistant returns to the stand George Kaplan, a former assistant to Diddy, is back on the stand, after starting his evidence yesterday. The jury is also back in the court room. 14:15:44 Judge and lawyers joke about Kid Cudi's dog before hearing starts The judge and the lawyers are discussing what we can expect to hear in court today, and which items the judge is happy to be presented in front of the jury. The conversation moves to Kid Cudi, who we will see in court later this afternoon, and who is a central figure in the case, having dated Cassie in 2011. Defence lawyer Brian Steele says the prosecution is intending to discuss Cudi's dog being shut in a room in December 2011, adding that he wasn't expecting them to present testimony that the "dog acted differently and is now traumatised". Prosecution lawyer Christy Slavik says the location of the dog is central to understanding if anyone was home or not, which speaks to a later break-in at the home that will be discussed as evidence. The judge jokes that Cudi is "not going to testify what the dog thought", which elicits laughter from those in the court. Steele says there may well be "dog lovers" on the jury, to which Slavik adds, "unfortunately, the dog is no longer with us". 14:03:39 Court resumes on day nine of trial Judge Arun Subramanian has taken the bench, but we are still waiting for the jury to come back in. When we get going, one of Diddy's ex-assistants, George Kaplan, is due to continue his testimony, which he began yesterday. 13:45:57 A reminder of the charges While we wait for court to start again today, here's a reminder of the five felony charges faced by Sean "Diddy" Combs: Racketeering conspiracy; Two counts of sex trafficking by force, fraud or coercion; Two counts of transportation to engage in prostitution. The rapper was initially charged with three offences - racketeering, sex trafficking, and transportation to engage in prostitution. Two extra counts - one each of sex trafficking and transportation to engage in prostitution - were added earlier in April. Combs has pleaded not guilty to all charges. What the charges mean Racketeering broadly means engaging in an illegal scheme or enterprise, and the charge falls under the Racketeering Influenced and Corrupt Organisations Act (RICO) in the US. According to the US justice department's definition of RICO statute, it is also illegal to "conspire to violate" the laws. The prosecution alleges that between 2008 and 2024, Combs "led a racketeering conspiracy that engaged in sex trafficking, forced labour, kidnapping, arson, bribery, and obstruction of justice, among other crimes". 13:19:48 Who is Scott Mescudi - better known as Kid Cudi? Scott Mescudi, better known as Kid Cudi, dated Casandra Ventura in 2011. He is expected to testify in court today. If you've been following the trial, you'll know Combs is facing a number of allegations from Cassie, so Mescudi's evidence today could focus again on her relationship with Diddy. Cassie testified last week that Combs kicked her in the back at his house after finding out she was cheating on him with Mescudi in 2011. Mescudi is a rapper, singer and music producer. The 41-year-old from Cleveland, Ohio, is known for hits like Day 'N' Nite, Pursuit Of Happiness and Mr Rager. He has collaborated with other artists, such as Kanye West, on 2010's Erase Me. In January 2024, he released his 10th studio album, INSANO. That included contributions from the likes of Lil Wayne, Travis Scott and Pharrell. Last year, he also announced he was taking a break from music to focus on his film and TV career. Mescudi has previously spoken of his desire to work more as an actor. He's appeared in sitcoms like Brooklyn Nine-Nine and the Netflix film Don't Look Up. 13:19:01 Welcome back Welcome back to our coverage of the trial of Sean "Diddy" Combs. The rapper faces five felony charges, including sex trafficking and racketeering conspiracy. He has pleaded not guilty to all charges. During the eighth day of the trial yesterday, the court heard from George Kaplan, former assistant to Combs, who described setting up hotel rooms for Diddy, and clearing up afterwards. Kaplan said it was implied his job was to protect Combs and his public image, and said that Combs threatened his job on occasion. We also heard from Dawn Hughes, a clinical and forensic psychologist, who didn't speak about the Diddy case specifically, but explained the nature of abusive relationships and how they can impact victims. Lastly we heard from Gerard Gannon, Homeland Security agent who gave more details on what was found during the raid of Combs' property, and showed photos of guns and bullets recovered in the search. Today, we are expecting to hear from Scott Mescudi, who is known professionally as Kid Cudi. He dated Cassie in 2011. Stay with us for the latest. 20:51:24 Court ends for the day - scroll down to catch up That concludes our live coverage of the eighth day of the trial of Sean 'Diddy' Combs. If you're just checking in, here is a recap of the testimony from today's witnesses. George Kaplan, former assistant to Combs The court heard how Kaplan set up hotel rooms for Combs, including clothes, candles, baby oil, Astroglide [lubricant], and that Combs would host a female partner; After Combs left, it would be Kaplan's job to collect his belongings, clear up the baby oil and tidy away "lots" of liquor bottles, the court heard; Kaplan said it was implied his job was to protect Combs and his public image; Combs threatened his job on occasion, he added. Gerard Gannon, Homeland Security agent Gannon gave more details on what was found during the raid of Combs' property; Residue that tested positive for cocaine and ketamine was found inside a Gucci bag, as well as MDMA pills, a meth fragment, and evidence of ketamine and xanax, the court heard; The court was shown a photo of a closet in a hallway containing 25 bottles of baby oil and 31 bottles of Astroglide lubricant; Male escort Sharay Hayes has previously testified that baby oil was used during sexual encounters with Combs and his ex-girlfriend, Casandra Ventura; Guns and bullets were also found; Defence lawyer Teny Geragos tried to show that the guns were kept safely stored and the magazines were not loaded into the receivers; He seemed to suggest investigators manipulated what they found for the photos and arranged them in a way that looked nefarious. Dawn Hughes, clinical and forensic psychologist Hughes was giving evidence as a blind witness, so she had not reviewed evidence in the case and was not there to comment on specifics; Instead, she outlined the nature of abusive relationships and how they can impact victims; She talked about how it was common for victims to stay in abusive relationships and to delay disclosing abuse until some time after it had occurred; Substance abuse was a very common coping mechanism to numb the pain, she said; PTSD could make recalling information difficult, she said. 20:37:00 In pictures: Seized guns and messages scrawled on Diddy's mirror We can now bring you some more images submitted by the prosecution, taken during a Homeland Security raid of Sean Combs' property. Messages scrawled on a mirror read "What do you want?" and "you a legend". Other photographs show weapons and pills that the court heard were seized during testimony earlier today.
