I give all the money - The Sun I give all the money - The Sun

Friday, June 8, 2012

I give all the money - The Sun

I give all the money - The Sun

I’m 17. I work in a fast-food restaurant every evening, often getting home in the early hours of the morning. I am then expected to get up to take my little brothers to school and take my sister to nursery every day. I then pick them all up again at the end of each day.

I also look after my mum and do all the housework as she has been ill and can’t be left on her own. It’s exhausting. My mum charges me rent of £400 per month and keeps putting my rent up by £20 every six months. I never have any money for myself.

I can’t afford to go out at the weekends because I have to work to pay my mum otherwise I’ll be in debt to her. My parents deprive me of my things whenever I complain.

I need to move out but I can’t get any money together for a deposit because I give it all to my mum. I am starting to feel isolated and alone. None of my friends message me back when I try to talk to them on Facebook. I’m in a hopeless situation.

I am starting to think the best thing for me is suicide

Don’t even think about making a suicide attempt. You have a great life ahead of you even though things seem grim at the moment.

Please find someone in your family to confide in. They need to know what you’re up against at home and can work with local services and maybe find you somewhere else to live if need be.

Find a quiet time to talk to your mum about the rent you pay. Explain that you need a life of your own and to spend time with your friends. I am sending you my leaflet Family Finances so you can work out a fairer rent.

I’m also sending my leaflet Help for Carers as there may be a way of getting more support for your mum too so that so much doesn’t fall on you

Find understanding support through Get Connected who help under-25s with any problem – including housing (0808 808 4994, www.getconnected.org.uk).

Stocks trading lower on economic concerns - USA Today

It was a relief for investors after the big drops of the previous week.

The Dow finished 93.24 points higher, or three-quarters of a percent, at 12,554.20. It ended the week up almost 3.6%.

The Standard & Poor's 500 index rose 10.67 points, or 0.81%, to close at 1,325.66. The Nasdaq composite rose 27.40 points, or 0.97%, to close at 2,858.42.

Stocks fell in morning trading, with the Dow Jones industrial average down almost 63 points. But they turned around after the government said that wholesale businesses restocked faster than analysts had expected.

The Commerce Department said U.S. wholesale stockpiles grew 0.6% in April. That's twice as fast as they grew in March and a sign that businesses are ordering enough goods to lead to increased factory production and sales. Investors had been braced for more sluggish growth.

Oil fell 72 cents to $84.10 per barrel. Sure, it was pushed down by long-term economic worries. But lower energy costs help consumers.

"If you had some doubts about an economic recovery, oil in the $80s is a lot better than oil at $110," said Jim Dunigan, managing executive of investments for PNC Wealth Management in Philadelphia. Oil traded just below $110 in late February.

Nine out of the ten industry groups in the S&P 500 rose. Only energy stocks declined, following energy prices lower.

Wal-Mart Stores (WMT) was the biggest gainer in the Dow, up $2.35, or 3.6%, at $68.22. Other companies that depend heavily on a strong economy grew too, including Intel (INTC), up 47 cents, or 1.8%, at $26.41, and General Electric (GE), up 20 cents, or 1%, to $19.20. Home Depot (HD) rose $1.11, or 2.2%, to $52.35.

Facebook (FB) rose 79 cents, or 3%, to $27.10 after announcing an "app center" that will recommend new add-on software for users. Anything that boosts user interaction is likely to help it sell more ads, which has been a key concern for investors in its new stock, which debuted three weeks ago at $38.

Chesapeake Energy (CHK) shareholders punished their directors and were rewarded by the market. The stock rose 51 cents, or 2.9%, to $18.36 after shareholder votes prompted the resignations of two directors at the company's annual meeting Friday. Earlier in the day the company said it will sell pipeline assets in three deals for a total of more than $4 billion in cash.

Navistar International (NAV) rose $4.25, or 17.6%, to $28.36 after the activist investor Carl Icahn boosted his stake in the truck maker.

Markets fell in Asia. Shanghai's stock index lost a half-percent, its fifth day of losses. Japan's Nikkei fell 2.1%.

Chinese leaders have been showing signs of urgency ahead of May trade and industrial data due out this weekend that might be even weaker than earlier pessimistic forecasts. The Chinese government cut interest rates for the first time in four years and has reduced gasoline and diesel prices for the second time in a month.

Over the long run, that will put more money in the pockets of Chinese consumers. In the short run it's a sign that the government is worried about growth.

"That shows they're being proactive, but on the other hand, it also makes you wonder, what's the data is really like?" said Uri Landesman, president of Platinum Partners. "I'm wondering how bad the data's going to be. I'd be very surprised if it's good."

China is a key U.S. trade partner so its growth is important to U.S. companies. Its importance is magnified by the possibility that Europe's economy will go from slow growth to shrinkage, Landesman said.

Major European markets fell, although their declines were smaller after the U.S. inventory news came out. France's benchmark index lost 0.6%, Britain's and Germany's each dropped 0.2%.

Those losses came a day after Federal Reserve Chairman Ben Bernanke indicated there were no immediate plans to boost growth in the world's largest economy, wiping out gains made on China's surprise interest rate cut.

Stocks Struggle to Turn Higher; Facebook Rallies - CNBC

Stocks closed higher in thin trading Friday, with all three major indexes log their best weekly gains this year, amid optimism that euro zone leaders would move closer to tackle the region's ongoing debt crisis, including a recapitalization of Spanish banks over the weekend.

“Bipolar markets here," said Alan Valdes, director of floor operations at DME Securities. "Yesterday, the market did not like what it heard from Bernanke. And today, we’re getting rumors out of Europe that Spain may get a bailout, which is lifting the market and the President spoke today begging for some action out of Congress."

“And don’t forget—next week is Quadruple Witching!” he added.

The Dow Jones Industrial Average rallied for a fourth-straight day led by Wal-Mart [WMT  Loading...      ()   ], which hit a 12-year high earlier in the session.

The S&P 500 and the Nasdaq also ended higher. The CBOE Volatility Index, widely considered the best gauge of fear in the market, dropped near 21.

For the week, the Dow surged 3.59 percent, the S&P 500 jumped 3.72 percent, and the Nasdaq soared 4.04 percent. All 30 Dow components logged gains for the week, led by Home Depot [HD  Loading...      ()   ] and BofA [BAC  Loading...      ()   ].

All 10 S&P sectors also finished in the black this week, led by financials and materials.

Facebook [FB  Loading...      ()   ] rallied to close above $27 a share, but still finished lower for the week. Meanwhile, UBS [UBS  Loading...      ()   ] said its losses on Facebook trading may be as high as $350 million and the firm is preparing legal action against Nasdaq [NDAQ  Loading...      ()   ] as a result, sources told CNBC.

Spain will "formulate a request for aid exclusively for banks recapitalization," according to ECB Vice President Vitor Constancio in remarks aired by Portugal's Radio Renascenca, adding that "everything is possible," when asked whether the request may happen Saturday.

The news comes after Fitch downgraded Spain's sovereign rating by three notches to 'BBB' on Thursday, citing urgent need for bank recapitalization. And an IMF report showed Spain's troubled banks need a cash injection of at least 40 billion euros ($50 billion).

European shares fell following a disappointing trade report from Germany and amid jitters over Spanish banks.

“The market is showing irrational fear about current events in Europe and China,” said Doug Cote, chief market strategist for ING Investment Management. “Investors have been pricing in a worst-case scenario and once they realize we’re not there, the biggest risk in this market right now is for investors not to participate in the melt-up that we think is highly likely.”

President Obama put pressure on European leaders to act quickly to solve the region's ongoing sovereign debt crisis, suggesting solutions such as injecting capital into weak banks. Obama warned that Greece's hardships will continue to grow if the debt-ridden nation exists the euro zone.

Obama also said he will pressed Congress to pass economic measures he has proposed to spur job growth in the U.S.

Stocks staged its best one-day rally this year on Wednesday amid hopes that central banks around the world will implement further measures to support the global economy. But investors were disappointed after Bernanke made no specific commitment to more easing. The Fed is scheduled to hold its next policy meeting on June 19 to 20.

McDonald's [MCD  Loading...      ()   ] slumped after the fast-food leader and Dow component said global same-store sales rose a disappointing 3.3 percent in May, hit primarily by weakness outside the U.S. Rival Yum Brands [YUM  Loading...      ()   ] also declined.

FedEx Freight [FDX  Loading...      ()   ] announced it will increase shipping rates by 6.9 percent effective July 9th.

Chesapeake [CHK  Loading...      ()   ] announced it will sell its pipeline and related assets in a deal worth $4 billion, which will help cover a $9 billion to $10 billion funding shortfall in the next three years.

An Apple [AAPL  Loading...      ()   ] lawyer said the iPhone maker may seek a legal order stopping the launch of Samsung's Galaxy S III phone in the U.S. later this month. Meanwhile, Nokia [NOK  Loading...      ()   ] rallied following market rumor that the cellphone maker might be a takeover target of Samsung.

Navistar [NAV  Loading...      ()   ] surged after billionaire investor Carl Icahn boosted his stake in the truck and engine maker to 11.87 percent from 9.99 percent.

Kraft Foods [KFT  Loading...      ()   ] announced it will switch its exchange listing to the Nasdaq from the New York Stock Exchange, which will help the company save money. The food and beverage conglomerate will maintain its current ticker symbol "KFT."

On the economic front, the U.S. trade deficit narrowed in April to $50.1 billion, according to the Commerce Department. Both imports and exports were still the second highest on record. And wholesale inventories climbed 0.6 percent to a record $483.5 in April, according to the Commerce Department, after an unrevised 0.3 percent gain in March.

—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

On Tap Next Week:

MONDAY: Apple WWDC event, Atlanta Fed Pres Lockhart speaks, San Francisco Fed Pres Williams Speaks, Cleveland Fed Pres Pianalto Speaks
TUESDAY: NFIB small biz optimism index, import & export prices, Fed Gov. Tarullo speaks, 3-yr note auction, GM shareholders mtg
WEDNESDAY: Weekly mortgage apps, PPI, retail sales, business inventories, oil inventories, 10-yr note auction, OPEC mtg, Caterpillar shareholders mtg, Dimon testifies before Senate
THURSDAY: CPI, jobless claims, current account, 30-yr bond auction, AOL shareholders mtg; Earnings from Kroger, Smithfield Foods, Pier 1 Imports
FRIDAY: Empire state mfg survey, treasury int'l capital, industrial production, consumer sentiment, credit card default rates reported, quadruple witching

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