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Owner of business along Loop 1604 worried about expansion plan, says he was not told about the plan


Wicked Ways Tattoos is located in the middle of segment 1. Segment 1 is ready to be completed in 2024.

SAN ANTONIO – Construction is now underway for the 1604 North Loop Expansion Project. The project will likely be completed in segments, starting with segment 1 on the northwest aspect of Bandera Road at I-10.

TxDOT is going from 4 lanes to 10 lanes in the hopes of cutting the journey time down to 80 minutes, in addition to preparing for an increase in the number of tourists on the 1604 loop sooner or later.

Wicked Ways Tattoos is located in the middle of Segment 1. Owner Norman Vesik said he has a strong buyer base.

“We do 10 to 30 tattoos a day and seven days a week,” Vesik said.

Open since 2015, Vesik said it has around seven employees and that he and his team have worked tremendously this year.

“It’s bad enough that the crown has happened and everyone has been shut down,” Vesik said.

Now he fears the construction could have an effect on his business.

“I’m sure it’s going to be a tax situation for people to be able to travel and I just hope they’re not so inconvenienced, that it deters them, not just in my business, but, you know, everyone else. business, ”Vesik said.

TxDOT said the project will cut future trips down to 80 minutes. It will even improve capacity with normal toll-free goals and HOV lanes.

Segment 1 will cost approximately $ 148 million {dollars} and is scheduled to end in 2024.

The project also includes housing for cyclists and pedestrians, in addition to various options. Currently, three segments are funded. Segment 2 includes loop 1604 and I-10 interchange. Construction is expected to begin in 2022 and cost $ 291 million. The expected completion date is 2027.

Segment 3 runs from I-10 to US 281. Construction is scheduled to begin summer 2021 and end in 2025. The price is $ 233 million.

Gina Gallegos, San Antonio District Engineer for TxDOT, said the tasks are funded by a mix of federal and state funds.

“There has been a lot of coordination with our local governments, as well as going forward and trying to get the finances,” Gallegos said.

Gallegos said he held one-on-one conferences with stakeholders, informing them about the project and any closures. She said they would educate them on any upcoming shutdowns, in addition to educating the general public.

“Those businesses where this is being built are going to benefit the most,” said J. Bruce Bugg, Jr., chairman of the Texas Transportation Commission.

Vesik said that even though his business was located in Segment 1, he had not been made aware of any buildings and discovered the project on Monday.

“I think business leaders in the region have every right to know… how are they going to progress? What are the holdups ?” Vesik said.

Vesik said he understood the need for infrastructure development, but said his company, along with other companies, should have obtained the plan.

“They do this to improve traffic. But in the meantime, what are you going to destroy? What are you going to do wrong in the process as business owners? You know, we’re not a business here. It’s not like I’m the Valero building across the street where they employ hundreds of people, ”Vesik said. “And it doesn’t matter. We’re looking to depend on people to come and get to our place, not just to come to work and draw a paycheck. “

Although the completion date for all three segments is 2027, TxDOT said they need to close earlier.


Take the package or the monthly pension?



Companies that have been severely affected by the pandemic have turned to early retirement offers in order to downsize. If your employer has a defined benefit pension plan, your offer may include the option to choose a monthly annuity paid throughout your life or a one-time lump sum distribution of approximately the same value. Employers generally prefer that workers receive lump sum payments to reduce the company’s future retirement obligations. But the choice for employees is not so clear.

I advise clients in this situation not to base their decision solely on financial considerations. There are also important emotional and behavioral factors to consider. To get to the heart of the matter, you need to ask yourself questions like the ones below and find honest answers.

1. Will I need the money right away to make money?

If you know you’ll need monthly retirement income beyond your Social Security benefits and income from your personal savings, a monthly pension can do the trick. With this option, your employer agrees to pay you the same amount of money per month for the rest of your life. Usually this monthly income is fixed and will not change which is a plus as it eliminates surprises. But there is also a downside: some pensions do not provide for any increase in the cost of living, which will help you preserve your purchasing power in the face of inflation.

While the combination of Social Security and individual savings will provide you with all the income you need, you could benefit more by transferring a lump sum directly into an IRA. A direct rollover allows you to continue investing the money on a tax-deferred basis, with the flexibility to use it when and if you need it. By holding growth-oriented investments within the IRA account, your nest egg has the potential to keep up with rising costs over decades of retirement.

2. Am I responsible for the money?

Do you dream of using that lump sum to pay off a mountain of credit card debt? Or to write checks to your children and grandchildren? If the answer is yes, then ask yourself if you really have the self-discipline to accept a flat-rate distribution.

If you are a proven saver (not a spender), you may be able to keep the money. But a lot of people who start with good intentions don’t succeed. A 2017 research study commissioned by MetLife

One study showed that 1 in 5 (21%) who took a lump sum from their workplace pension plan used up the money within 5.5 years.

3. Can I invest a lump sum wisely or do I know someone I trust who can help me?

Managing a successful flat-rate distribution requires a sophisticated investor. If you’re new to it, the DIY approach can be daunting, and the wrong choices can put your retirement security at risk.

If you don’t have the know-how yourself, you’ll need help from someone you trust. It is seldom wise to base important financial decisions on the advice of friends or family. Consider working with a professional financial advisor trained in retirement planning and experienced in working with pre-retirees like you.

Keep in mind that not all knowledge and skills are necessary qualifications for DIY enthusiasts. Creating and managing an investment portfolio requires a significant investment of time. While you may be up to the challenge right now, the demands can become a burden as you get older.

4. How will the decision impact the people I love?

Most pension payments cease after the death of the employee or the death of a surviving spouse, and there is no possibility of designating beneficiaries. If leaving a legacy is a priority for you, consider the benefits of a lump sum distribution with a direct rollover from the IRA. With an IRA, you can designate beneficiaries, including individuals or institutions, so that you dictate the allocation of your assets.

When making your decision, be aware that the promised duration and the amount of future payments depend on the solvency of the pension plan. If you have concerns about the financial stability of your employer’s plan, you’ll want to study the details thoroughly.

Here is another important point to remember: you cannot change your mind after submitting the required documents. The election is irrevocable, which means you only get one chance to get it right. Seeking professional financial advice early in the decision-making process can result in a confident choice.

KiplingerPensions: take a lump sum or not? | Kiplinger


MetLifeThe Risks of Receiving a Lump Sum Payment at Retirement The MetLife Blog

AARPLump sum or monthly payments: which is better?

To verify my website or some of my other work here.


Branson executives and business owners reflect on summer success


BRANSON, Mo. (KY3) – Branson business owners are having a very successful summer season. More and more people are leaving their homes and flocking to the tourist town.

There is still some concern that Branson is a ‘hotspot’ tourist destination as COVID-19 cases increase in southwest Missouri, but that doesn’t stop people from visiting the many attractions of the city.

Grant Sloan, vice chairman of the Branson Chamber of Commerce Convention and Visitors Bureau, said business was up from 2019.

“We are up 25% year-to-date in our tax district compared to 2019,” Sloan said.

Sloan said the companies were also having record weekends this summer.

“We know we’re making up for lost time, but it’s really exciting to see that kind of traction and so many people come and see Branson, some of them for the very first time,” Sloan said.

As more people gather in what is considered a peak destination, Sloan said they support Gov. Mike Parson’s stance on vaccines.

“We stand behind the governor every time he has said vaccines are the best way to fight COVID-19, and we believe people appreciate Branson as a safe place and come on vacation, knowing it’s a ride. to the destination, ”Sloan said.

Shepherd of the Hills chief executive Jeff Johnson said he also sees thousands of visitors every day.

“I don’t think anyone would have guessed that it would have been as strong as it has been to date, and so nonstop,” said Jeff Johnson.

Johnson said they were lucky to have more business as an outside site last year than most.

“We have about 160 acres on the original property, so we have a lot of space for people to spread out even though there are a few people in the parking lots and some lines. It’s just a little more space than most places have to spread out, ”Johnson said.

He says, despite the increase in the number of visitors, staffing is still a major concern for many Branson businesses.

To report a correction or typo, please send an email [email protected]

Copyright 2021 KY3. All rights reserved.

BI keeps interest rate low amid virus wave – Sat July 24, 2021



Norman Harsono (The Jakarta Post)


Jakarta ●
Sat, July 24, 2021

The Bank of Indonesia (BI) on Thursday decided to keep its benchmark seven-day reverse repo rate (7DRRR) at an all-time high of 3.5% to ensure financial stability amid the outbreak of the variant. Coronavirus delta is forcing investors to divert development funds to developed countries.

Following its two-day policy meeting, BI also kept the rates on the deposit and loan facilities unchanged at 2.75% and 4.25%, respectively.

“This decision aligns with the need to maintain the exchange rate and financial system stability due to uncertainty in global financial markets amid expected low inflation and efforts to support economic recovery from COVID -19, “BI Governor Perry Warjiyo said in a statement on Thursday.

BI wrote in the statement that investors ditched risky assets in a “flight to quality” after the Delta variant outbreak …

to read the full story


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Amazon is recruiting an expert in digital currency and blockchain



Andy Jassy, ​​CEO of Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, Calif., October 25, 2016.

Mike Blake | Reuters

Amazon is looking to add a digital currency and blockchain expert to its payments team, suggesting the company could take a more serious look at cryptocurrencies such as bitcoin.

According to a recent job offer, Amazon’s Payments Acceptance and Experience team is looking to hire an “Experienced Product Manager to Develop Amazon’s Digital Currency and Blockchain Product Strategy and Roadmap.”

“You will leverage your expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for capabilities that should be developed, drive the overall vision and product strategy, and gain buy-in and investment leadership for new capabilities, “according to the job posting, which was previously reported by Insider.

Amazon confirmed the job offer.

An Amazon spokesperson said in a statement: “We are inspired by the innovation that is happening in the cryptocurrency space and explore what that might look like on Amazon. We believe the future will be built. on new technologies that enable modern, fast and inexpensive payment technologies, and I hope to bring that future to Amazon customers as soon as possible. “

The company’s cloud computing unit, Amazon Web Services, offers a service called managed blockchain. But Amazon does not accept any cryptocurrency as a payment method for its products. Amazon CEO Andy Jassy (then CEO of AWS) said in 2017 that the company was not particularly focused on blockchain technology, although he acknowledged that Amazon was “watching it closely.”

Digital currencies like bitcoin have grown in popularity in recent years, leading to more institutional adoption. Tech companies have also become familiar with cryptocurrency, notably Facebook, which has supported a digital currency project called Diem. In May, Apple said it was looking to hire a chief negotiator to partner with “alternative payments” partners, citing cryptocurrency as an area of ​​potential professional expertise.


Review Panel Members Disagree with Experience Outdoors Proposal | News, Sports, Jobs


Admission to Experience Outdoors on National Route 73 near Lake Placid (Corporate Photo – Andy Flynn)

LAKE PLACID – The City-Village Joint Review Board was forced to file a request from a local business owner to host events once a month in the summer because they lacked a quorum. The proposal is expected to come back at a future meeting.

The owners of Experience Outdoors, a zipline and team building course on National Route 73, initially asked the Joint Review Board to allow the company to hold special events three days a month from May to October, these events scheduled to last up to 10 p.m. At least one of the events may have included the company’s tree climbing course, according to the original project request, so business owners Marc Doering and Bill Walton have also requested permission to extend the hours of operation of the hotel. company from 6 p.m. to 9 p.m. during special events. After hearing comments from neighbors at a public hearing on July 7 – in which several neighbors expressed concern over noise pollution and alleged code violations, which Doering denied – business owners have modified their request, reducing the number of special events to one per month. , only on weekends, without use of the tree climbing course.

Based on feedback from neighbors, board member David Genito offered a compromise at Wednesday’s board meeting which would see the request approved with conditions attached. With conditional approval, business owners would only be allowed to host one event per month, only on a Friday or Saturday, and events could only run until 9 p.m.

Even with Genito’s compromise, the vote was split one to three, with Genito voting yes and board members John Rosenthal, Chip Bissell and board chairman Rick Thompson voting no.

Two of the members of the Joint Review Panel recused themselves: Walton, who is a co-owner of the company, and Bob Rafferty. Due to these challenges, the other four board members who were present at Wednesday’s meeting should have voted to approve the request to go ahead, as the review board has seven members and there must be a majority vote, according to Tim Smith, counsel for the Joint Review Panel.

“I’ll say I’m against it, sorry” Thompson told Doering on Wednesday.

Smith told the Joint Review Panel that while the request was not approved, it could still be presented at a future meeting.

Doering, before the board voted, drew attention to events he saw being held at Craig Wood Golf Course, Cascade Ski Center and Olympic Show Jumping Complex. He said he thinks it’s “ridiculous” that other businesses are allowed to do the same thing his business has requested permission to do.

“We’re just looking to have special events once a month, but with live music until 10pm,” he said.

Bissell said the review committee had no jurisdiction over these properties.

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Real estate loan | How a Home Loan is Different from a Home Loan: Know Eligibility, Interest Rate, Other Details



How a Home Loan is Different from a Home Loan: Know Eligibility, Interest Rate, Other Details


  • Home loans are available for properties that are expected to be built in the future, under construction or for ready properties.
  • Home loans offer one of the longest loan repayment terms, up to 30 years
  • Real estate loan repayments are tax deductible, while real estate loan repayments are not

New Delhi: Buying a new home or land may not seem different to many people, and both purchases would be considered the purchase of a property in common parlance; However, there are some differences that should be taken into account when looking for loans.

Home loans are available for properties that are expected to be built in the future, under construction or for ready properties, while land loans are available for the purchase of land for building a house or for any purpose. investment. However, there are also similarities between the two types of loans.

While the terms, rates, and processes for land loans are similar to those for a home loan, there are some inherent differences between the two, as shown below:

Place and purpose of the loan

Home loans can be used for ready-made, under-construction or build-it-yourself properties. On the other hand, land loans are used for the purchase of land, provided that the land is used only for residential purposes.

Atul Monga, co-founder and CEO of BASIC Home Loan, said: “Compared to home loans, where the type, location and status of the land become major considerations for qualification, home loans are straightforward and are offered by most lenders.

LTV ratio

The LTV / LCR ratio is the extent of the loan amount you can get relative to the value / cost of the property. The LTV / LCR ratio for home loans is around 75-90% (i.e. the borrower can usually get a loan of around 75-90% of the value / cost of the property depending on of the loan amount). In the case of a land loan, the maximum LTV is capped at 75-80% of the value of the property depending on the amount of the loan. So, if you plan to buy land for personal use or as an investment, you will need to make a down payment of at least 20% of the value of the land.

“Also, home loans are considered to be less ‘risky’ than land loans and therefore get a 10-20% higher LTV, 50-100 basis points lower return on investment,” Monga explained.

What is the interest rate?

The interest rates on home loans are among the lowest of all loans. However, the same is not true with the land loan because it has a higher rate.

What is the term of the loan?

Home loans offer one of the longest loan repayment terms of up to 30 years. However, the term of the land loan is not that long.

Fiscal advantages

Also, home loan repayments are tax deductible, while home loan repayments are not, Monga said.

While the mortgage principal repayment for independent property and the interest payment qualify for an income tax deduction under section 80C and section 24b respectively. Such a tax benefit is not available on a land loan.


Pandemic fuels parents’ worries about their children’s financial future



With or without a pandemic, parents know how to worry about the big and small things when it comes to their children.

The pandemic is fueling this anxiety, and a new survey from the Pew Research Center shows Americans are particularly pessimistic right now about the financial future of younger generations.

The majority of people polled on the issue in America and other countries since 2013 have already said that children would be worse off financially than they are. But 2021 marks the largest share of Americans – 68% – to say children will have a harder time since the question was asked.

Among more than 10 countries, Americans saw the second-largest increase from 2019 to 2021 in people saying children would be worse off financially than their parents.

America’s sharp eight-point increase from 60% to 68% was second behind Italy, where there was an 11-point rise. There, 72% of survey participants said the younger generation would be worse off. German survey participants also said children would be worse off with an eight point increase from 2019 to 2021.

In the United States, at least, the gloom was constant, with 71% saying the country’s current economic situation was bad.

As America – and the rest of the world – tries to emerge from the pandemic with a slow and uneven vaccination rate in the face of the delta variant of COVID-19, the Pew Study captures a bit of a paradox in some places.

From 2020 to 2021, the number of people who agreed that their country’s current economic situation is good increased in 11 countries. At the same time, people in six countries increasingly believed that children would be worse off financially – and sometimes it was in places where they increasingly said the current economy was good.

For example, 60% of Germans said their country’s economic situation is now good, up from 51% last year. At the same time, 50% of Germans also said children would be in a worse financial situation, up from 42% in 2019.

Overall, the survey interviewed 18,850 people in 17 countries.

In the United States, at least, the gloom was constant, with 71% saying the country’s current economic situation was bad. Pollsters spoke to US survey participants in early February. It was a time when the number of cases was higher than today, and another round of economic stimulus was still more than a month away.

The National Bureau of Economic Research’s business cycle dating committee said on Monday that technically speaking, the pandemic-induced recession lasted from March 2020 to April 2020. It certainly doesn’t mean the financial pain ended there, and some experts say there is still a lot of room for improvement.

Earlier this year, researchers at Pew said there was 54 million fewer people in the global middle class as a result of the pandemic. (They counted this as families earning $ 10 to $ 20 per day.)

The latest survey does not look at what it means for young people to be in a worse financial situation than their parents. But other data points to some clues.

For example, the 2019 median wealth of older millennials (born in the 1980s) was 11% lower than researchers at the Federal Reserve Bank of St. Louis expected. That’s a smaller gap than the 40% deficit that researchers found in 2016, but it’s still a gap.

“As the oldest of them enter their forties, there is less time to catch up and take advantage of avenues of wealth creation,” the researchers said, noting that this demographic had the heaviest debt burden, which makes them “particularly vulnerable to economic setbacks”.

Right now, people who are just starting their financial lives can face heavy student debt, high child care bills, and a booming housing market that is potentially prohibitive.

On the bright side for children living in cash-strapped homes, July 15 marked the first advance payments under the enhanced child tax credit. The money, combined with other financial aid under the US $ 1.9 trillion bailout, could cut child poverty in half, researchers say. But, for now, the improved payments are only happening this year.

In America, people on both sides of the aisle were worried about children’s financial futures, the Pew study showed.

The Republican Trending poll participant was the most worried, speaking during the early days of the Biden Democratic administration. In 2020, 36% of conservative Republicans polled said today’s children would be worse off than their parents. In 2021, 76% said children would be worse off.

On the other hand, 76% of Liberal Democrats in 2020 said children would have more difficult financial times than their parents, but 70% felt the same in 2021.


After losing business in riots, Minneapolis restaurant owner’s van stolen from outside home


Minneapolis business owner Ruhel Islam is trying to stay positive through tough times.

The Bangladeshi immigrant saw his restaurant, Gandhi Mahal, catch fire in the riots and unrest that followed the murder of George Floyd.

A social media post from Islam and his daughter afterwards drew attention from afar when he wrote: “Let my building burn. Justice must be served.”

As he attempts to rebuild the now-demolished site on East Lake Street – turning it into a community gathering space and garden – he quickly set up a small restaurant less than two miles away. Curry in a Hurry is open for take out, delivery, dining and the summer patio season.

But, a few days ago, his van was stolen right outside his house. The van was stocked with newly purchased catering supplies, cooking utensils and private business account documents.

The Curry in a Hurry van was stolen in Minneapolis.

He assumes there was a Curry in a Hurry key inside, and the thief then used it to get into the business on Monday, stealing hundreds of dollars from the cash register.

Islam said he just wanted the truck back – one of the only things that survived last year’s destruction at Gandhi Mahal. He said he was ready to help those behind the theft, promising he would not press charges.

“If you need food, I’ll give you food all your life – you’ll have it. Need a job to rent a house, I’ll give you a job. Come work with us and solve the problem … that’s what we have to do. “

Curry in a Hurry posted on Facebook Tuesday night, writing that the van had recently been spotted in the 38th and Lake area and the tree logos were painted black. If you see the van, call the police.

Best cheap auto insurance in Bridgeport for 2021



When it comes to auto insurance, Bridgeport drivers have many options. The average cost of auto insurance in Bridgeport, CT is $ 2,364 per year for a full coverage policy and $ 1,084 per year for a minimum coverage policy. However, auto insurance rates are customized based on factors such as age, credit rating, and driving record.

Over the past three years, there have been just under 20,000 reported car accidents in Bridgeport, so having auto insurance is extremely valuable. Bankrate’s insurance editorial team has researched to help you find the best car insurance in Bridgeport based on criteria such as average price, coverage options, and discounts.

Best Car Insurance Companies in Bridgeport

Based on our research, Amica, State Farm, Geico, and USAA are some of the best auto insurance companies in Bridgeport. These four providers stand out with below-average prices, attractive discounts and reliable coverage. They also have above-average overall customer satisfaction scores for JD Power.

Insurance company JD Power Score
(New England region)
Average annual premium for minimum coverage Average annual premium for full coverage
United States of America* 887/1000 $ 597 $ 1,561
Geico 841/1000 $ 636 $ 1,524
Amica 867/1000 $ 658 $ 1,806
State farm 855/1000 $ 900 $ 2,116

* USAA is not eligible for official ranking with JD Power due to eligibility restrictions.

United States

USAA exclusively sells auto insurance to military personnel, active duty and retired, and their spouses and children. Bridgeport drivers who qualify for USAA can take advantage of the company’s excellent customer service, low fares and good discounts. Some of the savings available through USAA include a No Claims Discount, Policy Bundle Discount, Low Mileage Discount, and Driver Education Course Discount.

Learn more: USAA Insurance Review


Based on our research, Geico offers the cheapest full coverage auto insurance in Bridgeport. Geico’s average full coverage premium is $ 1,524 per year, which is $ 840 less than the city’s average rate. Geico’s auto insurance coverage is limited, but it may appeal to drivers who need basic coverage at low cost. Geico also offers plenty of discounts, with savings for military personnel, federal employees, emergency deployments, affinity groups, and good students.

Learn more: Geico Assurance review


In JD Power’s 2021 US Auto Insurance Study, Amica ranked first for overall customer satisfaction in the New England area. Amica is known for having excellent customer service as well as low prices and a number of discounts. Bridgeport drivers could save money on their policy by being a loyal customer, owning a home, consolidating their policies, being a good student and being a former customer. Amica also offers participation policies, which allow policyholders to recover part of their annual premium at the end of their policy term.

Learn more: Amica Assurance Reviews

State farm

State Farm holds over 16% of the total auto insurance market share in the United States, making it the largest auto insurance company in the country. State Farm has fairly limited coverage options, but the company has a long list of discounts, including several aimed specifically at teenage drivers. With State Farm, Bridgeport drivers can enjoy a lower rate by enrolling in one of the company’s Safe Driver Reward programs or taking advantage of traditional discounts such as multiple cars or multiple policies.

Learn more: State agricultural insurance review

The cheapest auto insurance in Bridgeport

The average cost of auto insurance in Bridgeport is $ 2,364 per year for full coverage and $ 1,084 per year for minimum coverage, which is significantly higher than the national and national averages. Connecticut drivers as a whole pay an average of $ 1,845 per year for full coverage and $ 794 per year for minimum coverage. The average national auto insurance policy costs $ 1,674 for full coverage and $ 565 for minimum coverage.

However, auto insurance companies in Bridgeport charge different rates for coverage. Some providers are on average cheaper than others. USAA, Geico, Amica, Nationwide, and State Farm sell some of the cheapest auto insurance in Bridgeport.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
United States $ 597 $ 1,561
Geico $ 636 $ 1,524
Amica $ 658 $ 1,806
At national scale $ 838 $ 1,664
State farm $ 900 $ 2,116

Keep in mind that every business is unique in more ways than its price. For example, the USAA only sells blanket to military personnel. Geico and State Farm offer some of the best discounts, but approval options are limited. Understanding what you’re looking for in an auto insurance company and getting quotes from multiple providers can be a good way to compare third-party coverages, discounts, and ratings.

Bridgeport Insurance Requirements

Bridgeport drivers who own a car registered in the state of Connecticut are legally required to purchase at least a minimum amount of auto insurance. The minimum coverage requirements in Connecticut include:

  • $ 25,000 in bodily injury coverage per person
  • $ 50,000 in accidental bodily injury coverage
  • $ 25,000 in Accidental Property Damage Coverage
  • $ 25,000 in bodily injury not insured by a motorist
  • $ 50,000 in uninsured bodily injury per motorist accident
  • $ 25,000 in bodily injury to underinsured motorists per person
  • $ 50,000 in bodily injury to underinsured motorists per accident

A minimum coverage policy is often the cheapest option available. However, choosing a minimum coverage policy to keep costs down is a financial gamble. In the event of a responsible accident, you are responsible for the cost of the injuries and property damage you cause. Higher liability limits give you more financial protection and can help you avoid heavy personal expenses. Additionally, drivers who lease or finance their vehicle are usually required to purchase comprehensive insurance.

Discounts on auto insurance in Bridgeport

Most Connecticut auto insurance companies offer discounts to help drivers get a lower premium. Here are some of the most common discounts you might find in Bridgeport:

  • Policy bundle: Drivers who insure their home and vehicle with the same company can usually get a discount on both policies.
  • Good student: High school and college students under 25 who maintain a minimum GPA are often entitled to a good student discount.
  • Defensive pilot: Some insurance companies offer a discount to drivers who take an approved defensive driving course.
  • Pay in full: Drivers who can afford to pay their premium in full can benefit from a reduced rate.

When shopping for auto insurance companies, examining the specific discounts offered by each company can help you find ways to save. Keep in mind that some discounts offer greater savings than others and availability may vary.

Frequently Asked Questions

What is the best auto insurance company?

The best auto insurance company depends on what you want and need from your provider. For example, the best operator for low rates may be different from the best customer service provider. Shopping around and comparing suppliers using your personal criteria can help you select a business that matches your needs.

How much does car insurance cost in Bridgeport?

In Bridgeport, the average cost of auto insurance is $ 2,364 per year for a full coverage policy and $ 1,084 per year for a minimum coverage policy. But remember that auto insurance rates are personalized. You could pay more or less than average depending on factors such as your age, zip code, credit rating, type of car you drive, and driving history.

Do i need full insurance?

Full coverage isn’t required to legally drive in Bridgeport, but if you have a loan or lease for your vehicle, you likely need a full coverage policy due to your lender’s requirements. Working with a licensed agent can be a great way to determine the amount of coverage you need. An agent can assess your particular situation and suggest coverage, coverage levels and endorsements that are right for you.


Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our example drivers own a 2019 Toyota Camry, commute five days a week, and travel 12,000 miles a year.

These are sample rates and should only be used for comparison purposes. Your quotes may be different.


What the $ 200 Million Payday Says About the Future of TV – The Hollywood Reporter



Will We Ever See Another SEC Filing Drop Like Friday’s By AMC Revealing $ 200 Million Settlement Solving Frank Darabontdevelopment benefits The walking dead?

It’s not just the mind-boggling figure, which ends eight years of litigation and buys the Shawshank Redemption director of his rights to any future remuneration for the zombie series and its spinoffs. It’s also that the television industry has changed rapidly over the years since a cable channel once devoted to film classics tasted the spoils of original programming with Mad Men and then decided to present a post-apocalyptic drama that he mostly self-produced. In short, this settlement could be the last of its breed.

“The success of The walking dead, and even the litigation itself, have resulted in clarifications and changes in the studios’ definitions of artist profit to avoid the same issues raised by the Walking Dead case, ”says Larry Stein, partner at Russ August & Kabat.

The costume of Darabont and its representatives at Creative Artists Agency belong to the pantheon of big business “Hollywood Accounting”, with those targeting Disney’s Who Wants to Be a Millionaire and Home improvement, and Fox X-Files and BONE. These controversies come at a special time for the industry: the wave of deregulation of the 1980s and 1990s ended the “fin-syn” rules. As a result, networks were no longer prohibited from retaining financial interests in the programs they broadcast. Consolidation has taken place. Syndication flourished. And huge vertically integrated media conglomerates were producing and distributing content.

In turn, the creatives with a stake in the profits challenged the “heart” deals they witnessed between studios and affiliates. Those who receive conditional pay, the pay that comes later after a show’s success but depends on how income and expenses are defined, would sue or arbitrate their belief that they are wronged. Darabont was among them. The walking dead, once the most popular cable show, has been undersold by AMC’s studio arm to its network arm, he insisted.

In some ways, this kind of litigation has indicated the future of the industry.

Led by Netflix, today’s streamers rely even more on self-produced originals. The difference is that today’s studio negotiators, somewhat hostile to transparency and perhaps swayed by the BONE the 2019 Arbitrator’s Finding on “Objectionable” Fraud, are now looking for a financial model that completely decreases the percentage-based backend. So instead of giving the creator of a show, say, 15% of the bottom line, studios start experimenting. For example, Disney combines larger upfront payouts with bonuses tied to seasons, episodes, rewards, and other challenging goals. “We are moving into a world that pays too dearly for failure and underpays for success,” said Robert Schwartz, a partner at Quinn Emanuel who has advocated all sides of Hollywood’s accounting affairs.

As buyouts become the name of the game in the TV industry and the backend becomes less lucrative, nine-figure settlements after years in court could disappear.

For now, the entertainment lawyers interviewed say they expect future lawsuits to focus on older shows added to streamers’ libraries. “Studios are hungry for content to launch and maintain their new digital services,” says Bennett Bigman of Russ August & Kabat. “Yet they are unlikely to set fair market prices, which will reduce back-end income and stakes, owed to thousands of writers, producers, directors, actors and artists. other creative talents… claims, and some will involve substantial amounts.

Yes, there may be shows like Friends, Office, and Seinfeld who are expected to charge an impressive license fee every time they hit the market, and when they return disappointing sums from studio-affiliated streamers, it will lead to legal action. But it’s about cleaning up old contracts, and the value of those series will continue to decline over time.

Additionally, many of these fights will remain confidential under arbitration, although creatives may consider suing streamers in open court for interfering with their profit expectations. Said Schwartz, “There are some interesting angles out there.”

A version of this story appeared in the July 21 issue of The Hollywood Reporter magazine. Click here to subscribe.


Here are the mortgage rates for July 20, 2021: Rate slippage



Jeff Greenberg / Getty Images

Several major mortgage rates fell today. Average rates for 15-year and 30-year fixed-rate mortgages have declined, while average rates for 5/1 variable-rate mortgages have also declined. Although mortgage rates are constantly fluctuating, they are currently lower than they have been in recent years. If you are looking to get a low fixed rate, this might be a good time to buy a home. As always, check out your personal financial needs and goals before buying a home, and always compare lenders to find the right mortgage for you.

Compare national mortgage rates from various lenders

30-year fixed rate mortgages

The 30-year average fixed mortgage interest rate is 2.98%, down 5 basis points from a week ago. (One basis point equals 0.01%.) Thirty-year fixed rate mortgages are the most commonly used loan term. A 30 year fixed rate mortgage will generally have a higher interest rate than a 15 year fixed rate mortgage, but also a lower monthly payment. While you will pay more interest over time – you pay off your loan over a longer period – if you’re looking for a lower monthly payment, a 30-year fixed mortgage may be a good option.

15-year fixed rate mortgages

The average rate for a 15-year fixed-rate mortgage is 2.33%, down 4 basis points from a week ago. Compared to a 30-year fixed mortgage, a 15-year fixed mortgage with the same loan value and the same interest rate will have a higher monthly payment. However, as long as you can afford the monthly payments, a 15-year loan has several advantages. This usually comes down to being able to get a lower interest rate, paying off your mortgage sooner, and paying less total interest over the long term.

5/1 adjustable rate mortgages

A 5/1 variable rate mortgage has an average rate of 2.98%, down 5 basis points from last week. You will typically get a lower interest rate (compared to a 30-year fixed mortgage) with an ARM 5/1 during the first five years of the mortgage. However, changes in the market may cause your interest rate to increase after this period, as stated in your loan terms. If you plan to sell or refinance your home before rates change, an ARM might be right for you. But if it doesn’t, you might be forced to pay a much higher interest rate if market rates change.

Mortgage rate trends

We use information collected by Bankrate, which is owned by the same parent company as CNET, to track changes in these daily rates. This table summarizes the average rates offered by lenders in the United States:

Mortgage interest rates today

term of the loan Daily rate Last week Switch
30 year mortgage rate 2.98% 3.03% -0.05
15-year fixed rate 2.33% 2.37% -0.04
Giant 30-year mortgage rate 2.81% 2.82% -0.01
30-year mortgage refinancing rate 2.99% 3.11% -0.12

Prices exact as of July 20, 2021.

How to shop for the best mortgage rate

You can get a personalized mortgage rate by connecting with your local mortgage broker or by using an online calculator. In order to find the best mortgage loan, you will need to consider your goals and your overall financial situation. Specific mortgage interest rates will vary based on factors such as credit rating, down payment, debt-to-income ratio, and loan-to-value ratio. Typically, you want a higher credit score, larger down payment, lower DTI, and lower LTV to get a lower interest rate.

The interest rate is not the only factor that affects the cost of your home. Also, be sure to consider other factors such as fees, closing costs, taxes, and points of call. Be sure to shop around with multiple lenders – including credit unions and online lenders in addition to local and state banks – to get the mortgage that’s right for you.

What is the best loan term?

When choosing a mortgage, remember to consider the length of the loan or the payment schedule. The most common loan terms are 15 and 30 years, although there are also 10, 20 and 40 year mortgages. Another important distinction is between fixed rate and adjustable rate mortgages. For fixed rate mortgages, interest rates are stable throughout the life of the loan. For variable rate mortgages, interest rates are stable for a number of years (typically five, seven, or 10 years) and then the rate changes each year based on the market rate.

When choosing between a fixed rate mortgage and an adjustable rate mortgage, you need to consider how long you plan to live in your home. Fixed rate mortgages might be better suited for people who plan to live in a house for a period of time. While variable rate mortgages can sometimes offer lower interest rates initially, fixed rate mortgages are more stable over time. However, you may get a better deal with an adjustable rate mortgage if you only intend to keep your home for a few years. The best loan term depends entirely on your personal circumstances and goals, so be sure to consider what’s important to you when choosing a mortgage.


This lucrative tax credit pays business owners who hire veterans, teens and other eligible workers


It is not easy to hire workers these days. But if your business hires a member of a certain group, you can claim the Potentially Profitable Work Opportunities Tax Credit (WOTC). Here’s what you need to know to make WOTC a tax saver for your business.

This federal income tax credit is generally equivalent to 40% of the eligible salary for the first year paid to an eligible employee, up to a maximum salary amount of $ 6,000. This translates to a maximum credit of $ 2,400 per eligible employee (40% x $ 6,000). Who helps.

The credit rate is reduced to 25% of the eligible salary for the first year for an employee who performs at least 120 but less than 400 hours of service. This translates to a maximum credit of $ 1,500 (25% x $ 6,000) per eligible employee. Not bad at all.

Qualifying first-year salaries are defined as eligible salaries paid for services rendered during the one-year period beginning on the day the newly hired employee begins work.

Special rules apply to certain veterans, long-term caregivers and young summer employees. More information on these special rules later.

Eligible employees

To be an eligible employee, your new hire must be certified as a member of a targeted group by the applicable National Workforce Agency (SWA). As an employer, you can either: (1) obtain certification on the day the employee begins working or (2) complete a prequalification notice, using form IRS 8850 (Pre-Screening Notice and Certification Request for the Work Opportunity Credit), the day you offer a job to a future employee. Then, you submit Form 8850 to the SWA (not the IRS) within 28 days of the employee’s start of work.

For links to the WOTC coordinator name, address, phone and fax numbers, and email address for each SWA, see here. A streamlined certification process is available for qualified unemployed veterans.

Who are the employees eligible for the work opportunity tax credit?

You can only claim the WOTC for hiring a member of a targeted group. Target groups include:

  • Eligible beneficiaries of assistance for families with dependent children or of a successor program.

  • Qualified military veterans.

  • Skilled ex-criminals.

  • Designated community residents.

  • References in vocational rehabilitation.

  • Young qualified summer employees.

  • Eligible recipients of supplementary nutritional assistance benefits.

  • Qualified SSI Beneficiaries (any person certified by the local agency designated as receiving Supplementary Security Income benefits under Title XVI of the Social Security Act for any month ending within the 60-day period ending on the date hiring).

  • Beneficiaries of long-term family assistance.

  • Qualified long-term unemployment benefits.

See IRS Form 8850 instructions for plain English definitions of these target groups.

Credit calculation

Here is the drill.

General rule

As previously stated, WOTC is generally equivalent to 40% of the first year’s eligible salary paid to an eligible employee, up to a maximum salary amount of $ 6,000. This translates to a maximum credit of $ 2,400 per eligible worker (40% x $ 6,000).

As previously stated, the credit rate is reduced to 25% of the qualifying salary for the first year for an employee who performs at least 120 but less than 400 hours of service. This translates to a maximum credit of $ 1,500 per eligible worker (25% x $ 6,000).

Exceptions to the general rule

There is a higher limit of $ 12,000 for the first-year salary paid to a qualified veteran who is entitled to service-related disability compensation and who was demobilized or released from the military during the last year. This translates to a maximum credit of $ 4,800 per eligible worker (40% x $ 12,000).

There is an even higher limit of $ 14,000 for first-year wages paid to a qualified veteran who was unemployed for at least six months the previous year. This translates to a maximum credit of $ 5,600 per eligible worker (40% x $ 14,000).

If a qualified veteran both has a service-related disability and was unemployed for at least six months in the previous year, the limit for the first year’s salary is $ 24,000. This translates into a maximum credit of $ 9,600 per eligible worker (40% x $ 24,000). Wow!

WOTC for a long-term caregiver is 40% of the first year’s eligible salary up to a maximum salary amount of $ 10,000. This translates to a maximum credit of $ 4,000 per eligible worker (40% x $ 10,000). In addition, you can claim WOTC for 50% of the second year qualifying salary up to a maximum salary amount of $ 10,000. This translates to a maximum credit of $ 5,000 for the second year (50% x $ 10,000) and a maximum combined credit for both years of $ 9,000 ($ 4,000 + $ 5,000). Wow!

WOTC for a qualified young summer employee (a 16- or 17-year-old who lives in an empowerment zone) is 40% of the freshman salary paid for any 90-day period between May 1 and May 15. September up to a maximum salary amount of $ 3,000. This translates into a maximum credit of $ 1,200 per eligible youth (40% x $ 3,000).

Side effects and limits of the tax credit for the possibility of work

As an employer, applying for the WOTC reduces your federal income tax deduction for the corresponding wages, dollar for dollar. You can avoid this outcome by not claiming the WOTC if the salary deduction gives you a better (unlikely) tax answer.

The salaries you take into account to claim the COVID-19 Employee Retention Tax Credit (explained here) cannot be used to claim the WOTC.

You cannot claim WOTC for an employee who is related to the employer (your company) or certain owners of the employer or for any employee who was previously employed by the employer.

You cannot claim the WOTC for amounts paid under a federally funded on-the-job training program. Work supplement payments under Section 482 (e) of the Social Security Act reduce eligible wages. Salaries paid to employees in strike replacement positions are not eligible for credit. The considerations mentioned in this paragraph are unlikely to apply, but this is a comprehensive analysis.

How to claim the work opportunity tax credit

Calculate and claim the credit on IRS Form 5884 (Work Opportunity Credit). WOTC is part of the credits that make up the General Business Credit (GBC) and is therefore subject to the GBC limitation rules. Carry forward the WOTC amount from Form 5884 to Form 3800 (General Business Credits) and take it from there. Or ask your tax professional to take care of the details.

You can carry forward any unused WOTC amount for the year back one year, and you can carry forward any unused amount for 20 years. If there is an unused credit amount left after the 20-year window closes, you can usually deduct the unused amount in the 21st year. Personally, I don’t think too much about taxes in 21 years, and I doubt you will either.

The bottom line

As you can see, WOTC can be quite lucrative. So, you don’t want to miss out if you hire an eligible worker. Ask potential new hires the necessary questions to determine if they are members of a target group. If they are, that’s an important point in their favor.

July 20, 2021 – Mortgage rates drop again – Forbes Advisor



Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

The rate on a 30-year fixed mortgage has come down today, giving buyers and homeowners interested in refinancing a chance to lock in to a historically low rate.

To date, the average rate on a 30-year fixed mortgage is 3.03% with an APR of 3.25%, according to Bankrate.com. The 15-year fixed mortgage has an average rate of 2.37% with an APR of 2.67%. On a 30-year jumbo mortgage, the average rate is 2.98% with an APR of 3.10%. The average rate on a 5/1 ARM is 2.81% with an APR of 3.96%.

30 year fixed rate mortgages

The average rate fell on a 30-year fixed mortgage, slipping to 3.03% from 3.08% yesterday. The 52 week low is 2.83%.

The 30-year fixed mortgage APR is 3.25%. At the same date last week, it was 3.28%. Here’s why the APR is important.

According to the Forbes Advisor mortgage calculator, borrowers with a fixed rate mortgage of $ 100,000 over 30 years will pay 423 per month in principal and interest (taxes and fees not included) at the current interest rate of 3.03% . In total interest, you would pay $ 52,361 over the life of the loan.

15 year fixed rate mortgages

Today, the 15-year fixed mortgage rate is 2.37%, lower than it was yesterday. Last week it was 2.40%. Today’s rate is higher than the 52-week low of 2.32%.

On a 15-year fixed rate, the APR is 2.67%. Last week it was 2.69%.

At the current interest rate of 2.37%, a 15-year fixed rate mortgage would cost about $ 661 per month in principal and interest per $ 100,000. You would pay approximately $ 18,924 in total interest over the life of the loan.

Giant mortgages

The average interest rate on the 30-year fixed rate jumbo mortgage is 2.98%. Last week, the average rate was 3.03%. The 30-year fixed rate on a jumbo mortgage is currently higher than the 52-week low of 2.85%.

Borrowers with a 30 year fixed rate jumbo mortgage with a current interest rate of 2.98% will pay 421 per month in principal and interest per $ 100,000. This means that on a $ 750,000 loan, the monthly principal and interest payment would be approximately 3,154, and you would pay approximately $ 385,421 in total interest over the life of the loan.

5/1 arm

On a 5/1 ARM, the average rate remained at 2.81%. The average rate was 2.82% last week. Today’s rate is currently below the 52-week high of 3.43.

Borrowers with an ARM 5/1 of $ 100,000 with a current interest rate of 2.81% will pay 411 per month in principal and interest.

Calculate your mortgage payment

If you can’t or don’t want to pay cash, mortgage lenders and mortgages will be part of your home buying process. It’s important to figure out what you’re likely to pay each month to see if it’s within your budget.

You can use a mortgage calculator to estimate your monthly mortgage payment based on factors such as your interest rate, purchase price, and down payment.

Here’s what you’ll need to calculate your monthly mortgage payment:

  • Interest rate
  • Deposit amount
  • House price
  • term of the loan
  • Taxes
  • Insurance
  • HOA fees

Save for a house

You might know you need to save enough for a down payment, but it takes more money than that to complete the home buying process. Also, after you buy, you need to furnish your new home and track potential repairs.

Here are six things you can do to save money for a home:

  • Advance payment
  • Inspection and assessment
  • Closing costs
  • Ongoing charges
  • Home furnishings
  • Repairs and renovations

What is an APR and why is it important?

The APR, or annual percentage rate, is a calculation that includes both the interest rate on a loan and the finance charge on a loan, expressed as an annual cost over the life of the loan. In other words, it is the total cost of credit. APR takes into account interest, fees and time.

Since the APR includes both the interest rate and some fees associated with a home loan, the APR can help you understand the full cost of a mortgage if you keep it for its entire term. The APR will generally be higher than the interest rate, but there are exceptions.


Maine law transfers recycling costs to packaging producers



YORK, Maine – Maine became the first state in the country to pass a law requiring companies that create consumer packaging to pay the costs of recycling.

Governor Janet Mills, a Democrat, signed the bill, LD 1541, on Tuesday, July 13.

The bill, which was sponsored by Rep. Nicole Grohoski (D-Ellsworth), establishes an “extended producer responsibility” program that will charge large packaging producers for the collection and recycling of cardboard boxes, plastic containers and other packaging materials, as well as for the disposal of non-recyclable packaging.

“I am proud that once again Maine is a national leader in common sense environmental protection,” Grohoski said in a statement. “This new law guarantees every community in Maine that helps with recycling and reducing the tax burden on property is on its way.”

Supporters of the proposal said the payments would be used to cover operational costs, pay department fees, and fund education and infrastructure projects aimed at reducing future packaging waste.

Mark Graziano of the York Recycling Committee said the new measure should lower property taxes in York, which have skyrocketed in recent years, and make recycling easier for consumers.

Graziano said he first heard about the policy in 2019 from the Natural Resource Council, but nearly 40 countries have similar legislation, some for 30 years. The committee has supported this bill since its inception, Graziano said.

Extended Producer Responsibility (EPR) for packaging has been put into practice across Europe and in several Canadian provinces, including neighboring Quebec to Maine. Many states in the US already have EPR programs for hard-to-dispose of goods, such as batteries, mattresses, and medications.

Maine and other states pursuing similar legislation could step up efforts to pass the federal Break Free From Plastic Pollution Act, which has sat in Congress since before the pandemic, Graziano said.

Recycling programs suffered from China’s 2018 decision to block American materials. Many communities in Maine have also had to deal with the abrupt closure of a recycling plant.

Other cities in Maine that have had to forgo recycling services due to high costs, Graziano said, will have a greater incentive to reinstate recycling initiatives.

The new packaging legislation met opposition from some business groups – including the Maine Grocers and Food Producers Association – who feared it would affect the supply chain and increase the cost of products. grocery.

Environmentalists applauded the movement. Maine Environment Director Anya Fetcher said Maine “has chosen to stop this rising tide of plastic pollution by putting the onus on dealing with this crisis where it belongs.”

Graziano said the law includes exemptions for small businesses and nonprofits, and other cities with similar laws, such as Quebec, have not seen price increases.

Maine has led the way in environmental legislation since the passage of one of the first bottle laws in the 1970s. Almost 20 years ago, the state passed the first laws requiring manufacturers to pay for recycling electronic devices, including computers and televisions. In 2019, the Maine legislature banned foam food containers, which will come into effect soon.

This report includes documents from the Associated Press.


Best fixed savings offers: rates start to rise



Fixed rate savings transactions are on average reporting the highest returns since December 2020, suggesting they are headed in the right direction.

Average fixed rates rose monthly for the first time since October 2020, according to Moneyfacts, as the pick became the highest number ever this year.

The average one-year fixed rate bond fell from 0.48% in June to 0.52% this month.

There are now 1,500 savings offers on the market – volumes not seen since December 2020, when there were 1,514 offers.

This means that the average saver setting aside £ 10,000 in a one-year fixed rate contract will accumulate £ 52.12 in interest over the year.

While this is more positive news for savers, it is still nearly three times lower than the average rate of 1.41% seen before the pandemic.

A saver who hid £ 10,000 in an average one-year fixed rate bond in July 2019 would have accrued £ 141.91 in interest after one year.

Longer-term fixed rate deals have also increased over the past month, from 0.72% to 0.77% – again, far from the 1.78% average recorded in July 2019.

Rachel Springall, Financial Expert at Moneyfacts, said: “It’s clear to see the savings market stabilizing positively over the past two months, but we are still a long way from rejuvenation.

“The average rate hike on fixed bonds will be good news for savers, especially for those who can rely on their interest as a form of income.

Overall, the choice of offerings available to savers has improved this month, and while those levels are far from the volumes seen before the pandemic, it is still a refreshing change from the lowest records of 2021. “

Where should savers move their money?

Savers looking to earn additional interest on top of what they are currently earning will need to be prepared to let some of the more established names pay next to nothing in interest.

As of July 13, of 97 fixed-rate savings accounts with a term of up to one year, 93 were earning less than 1.01% interest, according to Investec.

Andrew Hagger, personal finance expert at MoneyComms, said: “There has been a real surge in fixed savings rates over the past few months – enough to make it worth shopping again.

“1.01% is a very competitive one-year rate and is six to ten times higher than that offered by some of the biggest banks on the street.

“The range between best and worst rates is widening, which means it’s time for savers to sit down and take note, to make sure their cash nest egg offers a better return on their purchase. “

There are three new best buys for savers to choose from – the most eye-catching being the market-leading two-year fixed rate deal with the QIB (UK) deal offering a 1.25% yield.

The bank is the UK branch of the Qatar Islamic Bank and has been operating in Great Britain since 1982.

Savers who choose to open their account with QIB (UK) through the Raisin savings platform can also benefit from a welcome bonus in addition to the interest they earn.

The bonus is scalable depending on the amount that customers deposit in the opening account.

The amount of the welcome bonus depends on the amount you deposit – if you deposit between £ 5,000 and £ 39,999 you can claim a welcome bonus of £ 10, for between £ 40,000 and £ 74,999 you will receive £ 50 .

For those who can deposit £ 75,000 or more, they will receive a welcome bonus of £ 100. All of these bonuses help increase the rate.

For those who aren’t comfortable with a two-year deadline, the current best one-year buy is with Gatehouse Bank, offering 1.1% interest.

QIB (UK) and Gatehouse Bank accounts can be opened with £ 1,000 and have Financial Services Compensation Scheme protection up to £ 85,000.

But savers who want to take advantage of the highest savings rates are encouraged to act quickly or miss out.

“Savers have had a terrible time with rates falling to record highs this year and as things improve they would be wise to keep a close eye on the highest rate charts and act quickly to enjoy it, ”Springall said.

“The shelf life of a fixed rate bond has fallen to 53 days, showing signs that a good deal may not last too long as brands continue to react to market movements.”

Savings calculator

Determine how a lump sum or regular monthly savings would increase

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Cave Springs business owners fear expansion of Highway 112 will crush sales



Cave Springs business owners fear expansion of Highway 112 will crush sales

Cave Springs business owners fear the new extension of Highway 112 could harm their downtown area. ARDOT said parts of Highway 112 see 8,000 to 10,000 cars per day, and as Northwest Arkansas continues to grow, the road needs to grow as well. Part of Highway 112 runs through downtown Cave Springs. Business owners like Tim Nelson have said the current expansion plans bypass the city and essentially cut off the main street. “We won’t need a mayor. This will kill our downtown. I’m really concerned about dead ends. The dead end will kill my businesses, both of me. I have a tire store and a hardware store. With it. without business, we won’t be able to sustain what we’re doing, “Nelson said. The extension of Highway 112 will run from Bentonville to Tontitown, and ARDOT has said some parts will be four. or five lanes. Cave Springs Mayor Randall Noblett has said he hopes ARDOT can set up roundabouts at each end of Main Street, which will encourage people to keep navigating the center. “Town. Hard things for people to get into town. There is the little link here, and they need their stuff. They need you to come to town. There are reasons to leave the main road.” north and south, “said Noblett. ARDOT is hosting a public contribution meeting Tuesday via Zoom from 5:30 p.m. to 6:30 p.m. for the public to voice their opinion on the expansion. To gain access to the Internet, the Town of Cave Springs will open Town Hall to anyone wishing to attend the meeting.

Cave Springs business owners fear the new extension of Highway 112 could harm their downtown area.

ARDOT said parts of Highway 112 see 8,000 to 10,000 cars per day, and as Northwest Arkansas continues to grow, the road needs to grow as well.

Part of Highway 112 runs through downtown Cave Springs.

Business owners like Tim Nelson have said current expansion plans bypass the city and essentially cut off the main street.

“We won’t need a mayor. This will kill our downtown. I’m really concerned about dead ends. The dead end will kill my businesses, both of me. I have a tire store and a hardware store. With it. with no future business, we won’t be able to sustain what we’re doing, ”Nelson said.

The Highway 112 extension will run from Bentonville to Tontitown, and ARDOT has said parts will be four or five lanes.

Cave Springs Mayor Randall Noblett said he hopes ARDOT can set up roundabouts at each end of Main Street, which will encourage people to continue navigating downtown.

“I just don’t see the benefit of making it difficult for people to get into town. There are the small towns, and they need their stuff. They need you to come across town. There are reasons to go off the main road, north and south, ”Noblett said.

ARDOT is hosting a public contribution meeting Tuesday via Zoom from 5:30 p.m. to 6:30 p.m. for the public to voice their opinions on the expansion.

If you do not have internet access, the Town of Cave Springs will open City Hall for anyone wishing to listen to the meeting.

Inside the ring road: Democrats “Fleebagger” are back in action



Let’s take a look at “Fleebagger Democrats,” a term now used by Fox News, Hot Air, PJ Media and other news outlets after a group of Texas Democratic lawmakers left the state in the plan to block a special legislative session intended to tighten up Texas. voting laws.
Five have since tested positive for COVID-19.

“The group of ‘fleebaggers’, as they are pejoratively called – were celebrated by the DC establishment media and greeted by the vice president Kamala harris“, a Breitbart News review reported Monday, noting that the group had traveled in a private jet and posed” without a mask. “

Yes, here are the thugs.

In fact, this term was coined over a decade ago by the chronicler Michelle malkin who rejected the “tea bagger”, a distasteful description of those who supported the conservative Tea Party.

Here is what Ms. Malkin wrote on February 26, 2011.

“First Lady Michelle Obama said, ‘Let’s go! Who knew Democratic politicians in Wisconsin and Indiana would take it at face value?

“Faced with suffocating debt, inflated pensions and insoluble government unions, liberal Midwestern lawmakers fled these states – crippling Republicans’ tax reform efforts. Like the Brave Sir Robin of the Monty Python and his quivering band of knights, these elected officials have only one plan when faced with political hardship or economic peril: flee, flee, flee, ”Ms. Malkin.

“Dozens of Fleebagger Democrats are now in hiding in neighboring Illinois, the nation’s sanctuary for political crooks and corrupters. Soon hotels in the area will be announcing a special discount rate for FleePAC winter convention registrants with a card, ”she wrote.


“We all knew the Texas Democrats’ blatant publicity stunt would end in disaster, but it’s worse than we ever imagined. They took private jets to Washington DC to prevent the passage of a common sense voting law. Where is the outrage, if Republican lawmakers had fled a state to meet President Trump, that would have made weeks of national headlines. But when the Democrats in Texas do it, we hear crickets, ”America Rising PAC said in a statement.

The Political Action Committee was founded in 2013 to “expose the truth” about Democrats.

“We must demand that the Democrats in Texas return to their state. They must immediately stop this spectacle and support legislation to protect elections against fraud, ”the organization noted, when launching a new petition demanding exactly that.

He calls on Texas Democrats “to end this political theater and return to Texas to secure their elections.”


New Rasmussen Reports survey finds 51% of likely U.S. voters believe the former president Donald trump deserves “more credit” for the COVID-19 vaccination program. Forty-one percent believe President Biden deserves more credit.

That’s all.

The survey of 1,000 probable US voters was conducted July 13-14.


The Canadian government has announced that conditional cross-border travel will be allowed for fully vaccinated U.S. citizens and permanent residents starting August 9.

One Republican lawmaker in particular is very optimistic about the decision. representative Michelle fischbach of Minnesota has long been concerned about the fate of Americans who live in the Northwest Corner, the only point in the contiguous United States north of the 49th parallel and accessible via a 40-mile stretch of the Canadian highway.

These same Americans depended on this highway for cross-border travel for the interests of medical care, employment, and tourism. And then it was shut down when the pandemic hit.

“The light at the end of the tunnel seems closer. After more than 16 long and painful months, it is high time that these punitive restrictions end, ”Ms. Fischbach said in a statement shared with The Washington Times.

“The prolonged border closure not only affected Americans ‘ability to travel, it also hampered Americans’ ability to earn a living. The closure of the northern border has been particularly devastating for the Minnesotans living in the northwest corner, and I am committed to doing all I can to help their recovery. “

Lawmakers have previously warned that the northern border of the United States is as much in “crisis” as the southern border of the United States. She also led a delegation of state lawmakers to Northwest Angle last week to draw attention to the plight of the region.


Coming in early 2022: CNN +, a cable news network streaming subscription service, which describes on-demand and interactive programming as “an additive new experience that complements CNN’s major linear networks and digital platforms for serving CNN superfans, news junkies and fans of quality non-fiction programming.

“CNN invented cable news in 1980, defined online news in 1995, and is now taking an important step in the expansion of what news can be,” said Jeff zucker, president of CNN Worldwide.

The service will offer original, live, on-demand and interactive programming, and will also include an “extensive library of non-fiction, long-running programming” which includes “”Antoine Bourdain: Unknown parts “and”Stanley tucci: In search of Italy.


• 39% of American adults do not plan to watch the Olympics; 46% of Republicans, 44% of Independents and 29% of Democrats agree.

• 31% in total will watch some events; 27% of Republicans, 34% of Independents and 36% of Democrats agree.

• 12% in total will watch the events when they can; 13% of Republicans, 10% of independents and 16% of Democrats agree.

• 6% in total will watch the events every day; 6% of Republicans, 4% of independents and 7% of Democrats agree.

• 10% in total are not sure; 7% of Republicans, 8% of independents and 11% of Democrats agree.

SOURCE: An Economist / YouGov poll of 1,500 American adults conducted July 10-13.

• Please follow Jennifer Harper on Twitter @HarperBulletin.

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Inflation and the Bank of England: what its rate regulators are saying



LONDON, July 19 (Reuters) – Some Bank of England officials say the time is approaching to tackle rising inflation as Britain reopens its economy, but others want more time to assess risks or say that the price increase is likely to prove temporary.

Here are highlights of recent comments from BoE policymakers on inflation and the outlook for the central bank’s bond buying program and benchmark interest rates near zero.

The BoE is due to announce its next monetary policy decisions on August 5 as well as new forecasts for the economy.

For an article on the BoE’s options for tightening monetary policy, click read more.


July 15: “What we’re going to have to do, again, is look at all the evidence and assess how well we think the kinds of underlying things that are likely to be transient … I’m reacting somewhat to the people who say ‘the Bank of England is flippant about this’. “Read more


July 14: “Based on the rapid pace of developments since we released our May forecast and the shift in the balance of risks, I can envision these conditions for considering a tightening being met a bit sooner than I did. had expected. This reflects my current assessment that overall I give more weight to my inflationary scenario than my disinflationary scenario. “Read More


July 19: “In the immediate future, the risk of a preventive monetary tightening slowing the recovery continues to outweigh the risk of a temporary period of inflation above target. For the foreseeable future, in my opinion, a restrictive policy is not the right policy. “Read more


July 15: “In my opinion, if activity and inflation indicators stay in line with recent trends and the downside risks to growth and inflation do not increase significantly (and these conditions are important), then it may become opportune fairly quickly to withdraw some of the current monetary stimulus … For me, the question of whether to reduce our current asset purchase program early will be under consideration. at our next meetings. ” Read more


July 14: “We should not expect the reopening of the economy to be smooth. It is not something that you can just close and reopen smoothly… We are seeing an increase in demand. We are seeing supply restrictions that are spurring inflation. How clear is this question … We would expect some of these pressures, and we would expect some transient pressures at this point. “


May 27: “The first bank rate hike will probably only become appropriate for a good part of next year, with a slight further tightening thereafter … We would probably have to wait until the first quarter of next year to have a clear vision of the position. – unemployment on leave and the dynamics of wages. ”


July 19: “We don’t want to repeat this (post-financial crisis underperformance) due to COVID. And so I think it’s about the need to not be premature in terms of tightening monetary policy. “

“The kind of metaphor has been used, and I guess it’s appropriate in the current circumstances, is to say, ‘You have to wait until you see the whites of their eyes.” Read more


May 7: Broadbent said policymakers were less likely to ease policy than they thought three months earlier.

“The easing trend that we could have had is less pronounced,” he said. Read more


April 12: “One lesson we have learned from the financial crisis is that withdrawing political support prematurely can be very costly. “

“Pulling it out too soon … can lead to scaring effects in the labor market which would be very costly and slow growth in the future.”

Written by William Schomberg

Our Standards: Thomson Reuters Trust Principles.


FGR takes action to secure the future of the Bogoso-Prestea mine



Future Global Resources (FGR) claims to have discovered material inaccuracies in the information provided by Golden Star Resources (GSR), on which it relied in deciding to acquire the Bogoso-Prestea mine. These inaccuracies, he says, have had a financial impact on his operations and will therefore be investigated.

FGR notified GSR of the inaccuracies last week and asked GSR to compensate it for the financial losses it suffered, in accordance with the terms of the Bogoso-Prestea purchase agreement.

“Separately, FGR recently stepped in to resolve an ongoing and ongoing employee dispute over severance pay owed to staff at the Bogoso-Prestea mine, which has resulted in repeated industrial action. In the absence of GSR’s participation, FGR negotiated with staff to reach an agreement on severance which resulted in a peaceful return to operations and the termination of the pending legal action ”, a press release from Kwabena G. Kugblenu on behalf of Future Global Indicated Resources.

FGR is claiming the cost of this settlement from GSR as GSR is responsible for this matter under the purchase contract.

In light of the foregoing, FGR was not contractually obligated to make payments that would otherwise be due on July 16, 2021 and will not make payment otherwise due on July 31, 2021.

Golden Star Resources Ltd. announced in Toronto in July 2020 that it had entered into a binding agreement to sell its 90% stake in the Bogoso-Prestea gold mine in Ghana to Future Global Resources Limited (“FGR”) for a price of purchase of $ 55 million with another conditional component of up to $ 40 million.


Refinance rates fall as adverse market refinancing fees are removed



Refinancing just got cheaper

On July 16, 2021, the The Federal Housing Finance Agency (FHFA) has announced that it is finally removing unfavorable market refinancing fees.

The additional fees, which were introduced last year, have raised either interest rates or closing costs on all compliant refinance loans.

Removing Fees Will Make Refinancing Less Costly For Millions, with refinancing rates or fees falling as a direct result. And the good news is that those lower costs are starting now.

Check Your New Refinance Rates Today (July 19, 2021)

In this article (Skip to …)

What Are the Unfavorable Market Refinancing Costs?

In August 2020, the FHFA unveiled its proposal for a new unfavorable market refinancing commission.

The commission, which applied to all compliant refinance loans, was equal to 0.50% of a borrower’s loan amount.

But few mortgage lenders have charged the fees up front. Most simply charged higher refinance rates, rather than asking homeowners to pay extra on closing.

Adverse market refinancing fees have increased refinancing rates from 0.125% to 0.25% for most borrowers.

As Mortgage News Daily explains, the actual cost of the unfavorable market refinancing fee was “$ 1,500 on a $ 300,000 loan, or [a] 0.125-0.25% [increase] in rate.

From the start, the charges were met with a deluge of criticism from consumer groups and the mortgage industry.

And, finally, the FHFA announced its abolition. Adverse Market Refinancing Fees will no longer be charged on loans made to Fannie Mae or Freddie Mac after August 1.

Because it typically takes a month or more between loan closing and “delivery,” this actually means that the fees have already been waived for new refinance loans. The borrowers therefore no longer pay it.

Check your eligibility for refinancing (July 19, 2021)

Who is affected by this change?

The Adverse Market Refinance Fee only applied to “conforming mortgages,” which are those that conform to the Fannie Mae or Freddie Mac standards. Thus, only owners benefiting from this type of loan will be impacted by the elimination of fees.

Most American homeowners have a compliant mortgage, even if they aren’t aware of it. Your home loan may have been sold to Fannie Mae or Freddie Mac after closing.

To find out if you have a compliant loan, you can use these research tools:

If you have a government guaranteed mortgage, including VA loans, FHA loans, and USDA loans, changes to these fees will have no impact on you.

Plus, homeowners with Fannie Mae HomeReady Loans, Freddie Mac Home Possible Loans, and loan amounts under $ 125,000 were spared the fees. The changes will therefore not have any impact on these borrowers either.

How Much Could Refinancers Save?

If you want to refinance to a compliant mortgage, this policy change could make a big difference.

Suppose you have a loan balance of $ 300,000. If your mortgage lender were to charge the adverse market refinance fee up front, you would likely have paid $ 1,500 more at closing. So removing these fees would mean substantial savings.

However, most of the lenders did not charge the fees up front. Instead, they charged higher refinance rates.

So how much can you save now that refi rates are likely to drop? Let’s look at an example.

Suppose a homeowner can get a 0.25% lower rate by refinancing now that adverse market charges have been removed. Here’s what the calculation might look like:

WITH unfavorable market refi fees WITHOUT unfavorable market refi fees
Loan balance $ 300,000 $ 300,000
Current mortgage rate * 4.0% 4.0%
Current monthly P&I payment $ 1,530 $ 1,530
New interest rate * 3.25% 3.0%
New monthly P&I payment $ 1,320 $ 1,280
Interest saved over 30 years $ 15,100 $ 30,000

* All interest rates are for illustrative purposes only. Your own interest rate will vary.

In this example, the homeowner could save an additional $ 40 on their monthly payments by refinancing now that the refinancing fees have been waived.

It may not seem like much. But after 30 years, the owner has saved an additional $ 15,000 thanks to this lower rate.

As always, the longer you stay in your home after refinancing, the more you will benefit from a lower refinance rate.

Of course, you have to pay the closing costs of your refinance. And you’ll reset your mortgage clock, which means you’ll borrow longer and pay more interest in the long run.

But, if the savings are big enough, you may well think these are prices worth paying.

You won’t know exactly how much you can save until you get quotes for refinancing from several lenders.

Why remove unfavorable market refinancing fees?

The FHFA justified the unfavorable market refinancing charge by saying it was necessary to protect Fannie Mae and Freddie Mac from the losses they might suffer due to the pandemic. He was concerned that high unemployment and a recession would make many of their loans bad.

But it didn’t work that way.

As of April 2021, according to the FHFA’s own figures, only around 2% of Fannie and Freddie’s single-family mortgages were still in arrears. It was therefore obvious for the new administration to remove the fees, which it had never liked.

“Eliminating unfavorable market refinancing fees will help families take advantage of the low interest rate environment to save more money. – Sandra L. Thompson, Acting Director of the FHFA

Sandra L. Thompson, who was appointed interim director of the FHFA in June 2021, said in a statement:

The COVID-19 pandemic has financially exacerbated the affordable housing crisis in the United States. Eliminating unfavorable market refinancing fees will help families take advantage of the low rate environment to save more money.

She continued, “Today’s action reinforces the FHFA’s priority of supporting affordable housing while simultaneously protecting the security and soundness of businesses [Fannie and Freddie].

Is refinancing worth it?

The traditional way to decide if refinancing is worthwhile is to divide your closing costs (usually 2-5% of the loan amount) by your potential savings from the lower refinance rate. You can then see how many months it will take you to recoup your costs and start making “real” savings.

Most people would consider this “breakeven point” to be a sure-fire way to decide whether refinancing makes sense.

But, if it takes you several years to recoup your costs, you may need to judge whether your savings are worth it.

Refinancing without closing costs

Many lenders offer refinancing options with no closing costs. And there is nothing wrong with such offers.

But you have to recognize that these lenders are not charitable. You will almost always pay a higher refinance rate so that the lender can recoup these costs over time… and maybe more than recoup them.

So if you are running out of money for the closing, feel free to check out these offers. Just keep in mind that there is no free lunch (or refinance).

Refinance rates are still insanely low

For months, interest rate pundits and observers (including this one) have warned of an imminent hike in mortgage and refinancing rates. And we’re all starting to look silly. Because these increases did not materialize.

At the time of writing (mid-July 2021), 30-year fixed-rate mortgage rates were at their lowest in five months.

In fact, rates were close to the all-time low seen in January of that year, according to Freddie Mac records.

But don’t think that this happy situation will necessarily last. There really are forces that should push mortgage and refinance rates up. And these could go off at any time.

There may be a limited window to refinance without the adverse market refi fees and at an ultra-low rate. So, if you’ve been considering refinancing, now is a great time to check out your options.

Check your new rate (Jul 19, 2021)


From now on, the monthly interest on SBAs at IDFC First



IDFC First Bank had recently launched a monthly interest credit facility on all savings bank accounts (SBAs). From July 1, interest on SBAs will be credited monthly.

In accordance with Reserve Bank of India (RBI) regulations, banks credit interest on depositors’ accounts on a quarterly basis, although they are free to credit them on a monthly basis.

In the case of term deposits, different frequencies, including monthly, quarterly, annual and cumulative, are offered by banks. But for savings accounts, banks have historically not granted this flexibility.

Monthly interest credit helps depositors access the interest amount sooner.

“As IDFC First Bank has always tried to introduce innovative solutions for its customers, this is another of these advantages. The interest credit each month will help savings account holders earn interest on the interest if they continue to keep the interest earned on those accounts. Besides, customers can withdraw the interest money if they want to meet their expenses, IME, etc. Said Amit Kumar, Head of Retail Liabilities, IDFC First Bank.

However, the increase in interest income due to compounding is likely to be marginal, experts say.

“With an average interest rate of 3% on savings accounts, the benefit to clients of IDFC First Bank savings accounts will be 0.0074% on top of quarterly interest. While the benefit is marginal at best, there is obviously a gain for depositors, ”said Raj Khosla, founder and CEO of MyMoneyMantra.com, a financial advisory firm.

In accordance with RBI regulations, banks are supposed to calculate interest on the end-of-day balance. In March 2016, the RBI ordered banks to start crediting interest on savings accounts on a quarterly basis. Previously, it was credited on a semi-annual basis.

Interest earned in the case of IDFC First Bank will be credited on the first day of each month to the savings bank account. There will be no change in the interest rate and other features of the account.

IDFC First Bank offers an interest rate of 3-5% per year, depending on the savings account balance. If the account balance is ₹1 lakh, it will earn 4% interest per annum, and if the balance is more than ₹1 lakh and up ₹10 lakh, it will earn 4.5% interest. If the balance is greater than ₹10 lakh but less than ₹2 crore, the bank will pay interest of 5% per annum. If the balance is greater than ₹100 crore, it will earn interest at the rate of 3% per annum.

In order to expand its customer base, IDFC First Bank was one of the few banks to offer a higher interest rate on SBAs. It was offering an interest rate of 7% per annum in 2020, now the same has been reduced to around 4% per annum.

The RBI deregulated interest rates on SBAs in 2011. Prior to that, the interest rate was set at 4% by the RBI.

In accordance with RBI guidelines, each bank will have to offer a uniform interest rate on savings bank deposits up to ₹1 lakh, regardless of the amount of the account within this limit. While for higher savings bank deposits ₹1 lakh, a bank can offer differential interest rates, if it wishes.

However, experts believe that more money should not be placed in savings accounts attracted by interest rates, as banks are free to raise and lower rates as they see fit.

“I encourage clients to evaluate fixed deposit proposals and maintain minimal balances on savings accounts,” Khosla said.

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J&J plans to bankrupt talc liabilities, sources say



Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York City.

Lucas Jackson | Reuters

Johnson & Johnson are investigating a plan to offload responsibility for the widespread baby powder litigation at a newly formed company that would then seek bankruptcy protection, according to seven people familiar with the matter.

During settlement discussions, one of the healthcare conglomerate’s attorneys told plaintiffs’ attorneys that J&J could pursue the bankruptcy plan, which could result in lower payments for cases that aren’t. settled beforehand, some people said. Lawyers for the plaintiffs would initially be unable to prevent J&J from taking such a step, but could pursue legal avenues to challenge it later.

J&J is yet to decide whether or not to pursue its bankruptcy plan and may ultimately drop the idea, some people have said. Reuters could not determine whether J&J had hired restructuring lawyers to help the company explore the bankruptcy plan.

J&J is facing lawsuits from tens of thousands of plaintiffs alleging that its baby powder and other talc-based products contained asbestos and caused cancer. The plaintiffs include women with ovarian cancer and others battling mesothelioma.

“Johnson & Johnson Consumer Inc. has not decided on any particular action in this litigation other than to continue to defend the safety of talc and to litigate these cases in the tort system, as evidenced by the ongoing lawsuits,” the J&J subsidiary housing the company’s talc products said in a statement provided to Reuters. J&J declined to comment further.

If J&J goes ahead, plaintiffs who have not addressed the issue could end up in protracted bankruptcy proceedings with a likely much smaller business. Future payments to claimants would depend on how J&J decides to finance the entity housing its talc liabilities.

J&J is now considering using Texas “Mergers That Divide” law, which allows a company to split into at least two entities. For J&J, this could create a new entity housing talc-related liabilities that would then file for bankruptcy to end the litigation, some people said.

The maneuver is known to legal experts as a two-stage bankruptcy in Texas, a strategy that other companies facing asbestos-related litigation have used in recent years.

J&J could also consider using another mechanism to file for bankruptcy in addition to Texas law, some people said.

A Reuters investigation in 2018 found that J&J had known for decades that asbestos, a known carcinogen, was lurking in its baby powder and other talc-based cosmetics. The company stopped selling baby powder in the United States and Canada in May 2020, in part because of what it called “misinformation” and “unfounded claims” about the product. talc. J&J maintains that its consumer talc products are safe and confirmed by thousands of tests to be asbestos-free.

The blue-chip company, which claims a market value of around $ 443 billion, faces lawsuits from more than 30,000 plaintiffs alleging that its talc products were unsafe. In June, the United States Supreme Court refused to hear J&J’s appeal against a Missouri court ruling that resulted in $ 2 billion in damages awarded to women alleging that the company’s talcum powder had caused their ovarian cancer.

Lawyers for plaintiffs view the two-step bankruptcy strategy as a strategy that circumvents potentially costly settlements or judgments. Companies see it as a way to consolidate many lawsuits in a single court for effective negotiations that bankruptcy law dictates for asbestos liabilities. The business outside of bankruptcy may enter into a financing agreement with the entity navigating a judicial restructuring to cover future settlement payments.

In 2017, paper towel maker Brawny Georgia-Pacific used Texas law to shift asbestos-related responsibilities to an entity that then filed for bankruptcy in North Carolina.

Bankruptcy cases filed to resolve disputes, including those related to asbestos, often take years and almost never fully reimburse creditors. OxyContin maker Purdue Pharma, for example, set to resolve thousands of opioid-related lawsuits after two years of bankruptcy negotiations with a plan valued at more than $ 10 billion to process trillions of dollars of complaints.

Another company, DBMP, filed for bankruptcy last year to resolve asbestos-related liabilities and said the case could take up to eight years, according to a press release from the company.

J&J is also facing litigation alleging that it contributed to the opioid epidemic in the United States and recently recalled certain spray sunscreen products after discovering that some of them contained low levels of benzene. , another carcinogen.

The company agreed in June to pay $ 263 million to resolve opioid claims in New York City. He has denied any wrongdoing related to his opioids.


Worried about a stock market bubble? Here are 4 tips to protect your wallet now and in the future



You may have heard that the stock market is soaring, and so is the housing market. Cryptocurrencies have been on the rise – at least until recently.

The economy is coming back to life after a year of pandemic-induced shutdowns and most assets are booming with it. But you’re paying a high price for a positive investment outlook, and value-conscious buyers may struggle to find good deals amid today’s high prices.

So what can you do if these high prices make you squirm? Below are some tips on what to do when almost everything is already set up and feeling a little sparkling.

1. Avoid madness

What you don’t have can be just as important as what you do. A good first step to avoiding injuring yourself in an overheated market is to make sure you avoid the hottest areas. Recently, that has meant avoiding so-called memes stocks like AMC Entertainment, GameStop, and Bed Bath & Beyond. Huge price swings get a lot of attention in the short term, but in most cases their underlying businesses face serious problems and may struggle to earn enough for shareholders to justify their current valuations.

Instead, make sure that the stocks – or equity funds – in your portfolio are focused on profitable companies that are likely to continue to grow over time. Remember, stocks aren’t just prices flashing on a screen, but represent real interests in a business. Actions should track the performance of the business over time.

2. Embrace boredom

It’s also a good time to make sure you’re taking care of the essentials. Take a look at your 401 (k) or other pension plan and make sure that you are contributing enough to receive any matching offered by your employer, and that the funds are invested in simple index funds that are not overly exposed to market fluctuations. high potentials.

There are many trendy investments that have generated outsized returns in recent years, such as Tesla and Zillow. These companies may generate bountiful profits for shareholders someday in the future, but with their high valuations, you might find others that offer more of a good deal today.

Instead, consider stable producers with solid dividend yields and reasonable valuations. Companies like this are not expected to double or triple in the near term, but are expected to generate attractive returns in the long term compared to many hot stocks in 2021 whose underlying businesses are generating little or no profit.

Consider investing in ETFs or mutual funds that own companies with consistent dividend payouts over the years instead of chasing the hottest names of the month in the crypto space or the latest IPO. technological.

3. Don’t look for returns

Savers and investors who depend on the income from their investment portfolios are no doubt aware of the paltry returns currently offered by most fixed income investments. Just 10 years ago 10-year US Treasuries were yielding around 3%, five years earlier they were offering over 5%. Although low, this yield has helped generate income for both savers and retirees, whereas today the same bond only offers about 1.5%. These record high rates may cause some to look elsewhere for income, but investors should be careful not to seek higher returns and unknowingly take on more risk.

Risky corporate debt, or junk bonds, can be a popular place to look for an increase in yield when government rates are low, but bonds are typically issued by companies in poor financial health and can be at risk of default. interest payments. Their prices would also drop if interest rates rose to more normal levels.

If your returns have been affected by low interest rates, resist the urge to look for extra return on riskier investments. Better to adjust your spending habits to the low interest rate environment than to risk a permanent capital loss by seeking yield.

4. Consider keeping cash in your wallet.

Most people agree that silver is a lousy long term investment. It is virtually certain that it will lose value over time, but one thing it can add to your portfolio is optionality. If you think that most investment opportunities today are not attractive, money gives you the ability to quickly seize opportunities in the future, although the time when they might present themselves may not always be. not clear.

Granted, holding cash can be psychologically difficult, especially in speculative environments where everything seems to be going higher. It doesn’t feel good to have the money just sitting there and earning next to nothing. But when market emotions inevitably tip in a more frightening direction, holding money today could prove to be invaluable.

If you’re concerned about today’s high valuations, consider holding 5-10% of your portfolio in cash and cash equivalents – this is one of the most opposite investments you can make.

At the end of the line

Almost all financial assets have grown significantly over the past year, leaving valuations high and expectations of future returns low. Be sure to limit your exposure to the more speculative areas of the market, such as memes stocks and cryptocurrencies.

Consider holding part of your portfolio in a very liquid investment, such as a money market fund, to be better positioned to seize future opportunities. Make sure you take care of the basics and consistently contribute to a workplace retirement plan like a 401 (k). Remember that slowness and consistency usually wins the investment race.


Jackson business owner to turn wasteland into paintball park


JACKSON, MI – Local business owner Greg Schultz is thoroughly renovating a vacant lot and bringing new entertainment to Jackson County – a paintball park.

When Schultz posted an update on Facebook on the new paintball park in progress, he didn’t expect much reaction from the community. However, Schultz’s post received almost 200 likes and over 400 shares.

Jackson’s Night Ops Paintball Park is set for the old Cooperstown Softball Complex at 1445 E. Parnall Road in Jackson.

The complex has been vacant for about eight years. Its long-term vacancy meant significant work was needed on the space, Schultz said.

“The place was left in a bad state,” Schultz said.

However, the area has all the right elements for a paintball park. The park will have three courts and full lighting so that the sport can be played at night.

Paintball was a hobby for Schultz in his thirties. Schultz, who has also owned various businesses like a GPS company and Bid Jackson, enjoys turning his passions into business.

RELATED: Online auction house seeks to give Jackson an eBay with a local twist

“When I lived in Grand Rapids, I played paintball for several years,” said Schultz. “I loved the sport, the adrenaline rush, just the whole premise.”

The pandemic caused some problems upon opening, such as backlogs of equipment.

Schultz said he placed his order in March and had just started receiving materials. However, the air tanks, which power paintball guns, still haven’t arrived.

Materials to turn the area into a full-fledged paintball park were also difficult to come by, Schultz said.

“We want to open by September 1, but it’s all based on ensuring that we get all the supplies,” he said.

The space will be a great place for team building and events, as well as a gathering place for paintball enthusiasts of all ages, Schultz said. To improve his future paintball park, he visited several others to see how they work.

Once possible, Schultz plans to invite groups for smooth openings. For now, he predicts the park should be fully open by spring 2022.


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Is Kesko Oyj (HEL: KESKOB) worth € 33.6 based on intrinsic value?



How far is Kesko Oyj (HEL: KESKOB) from his intrinsic worth? Using the most recent financial data, we’ll examine whether the stock’s price is fair by projecting its future cash flows and then discounting them to today’s value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. Before you think you won’t be able to figure it out, read on! It’s actually a lot less complex than you might imagine.

There are many ways businesses can be assessed, so we would like to point out that a DCF is not perfect for all situations. For those who are passionate about equity analysis, the Simply Wall St analysis template here may be something that interests you.

See our latest review for Kesko Oyj

Step by step in the calculation

We use the 2-step growth model, which simply means that we take into account two stages of business growth. In the initial period, the business can have a higher growth rate, and the second stage is usually assumed to have a stable growth rate. To begin with, we need to estimate the next ten years of cash flow. Where possible, we use analyst estimates, but when these are not available, we extrapolate the previous free cash flow (FCF) from the last estimate or stated value. We assume that companies with decreasing free cash flow will slow their rate of contraction, and companies with increasing free cash flow will see their growth rate slow during this period. We do this to reflect the fact that growth tends to slow down more in the early years than in subsequent years.

A DCF is based on the idea that a dollar in the future is worth less than a dollar today, so we need to discount the sum of these future cash flows to arrive at an estimate of the present value:

10-year Free Cash Flow (FCF) estimate

2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Leverage FCF (€, Millions) € 572.7 million € 579.3m € 519.8m 482.8 million euros € 459.0m 443.5 M € € 433.3 million € 426.5m € 422.2m € 419.4m
Source of estimated growth rate Analyst x3 Analyst x3 Is @ -10.27% Is @ -7.12% Is @ -4.92% Is @ -3.38% East @ -2.31% Is @ -1.55% Is @ -1.02% East @ -0.65%
Present value (€, Millions) discounted at 4.3% € 549 € 533 € 458 408 € € 372 € 345 € 323 305 € € 289 € 276

(“East” = FCF growth rate estimated by Simply Wall St)
10-year present value of cash flows (PVCF) = € 3.9bn

After calculating the present value of future cash flows over the initial 10 year period, we need to calculate the terminal value, which takes into account all future cash flows beyond the first step. For a number of reasons, a very conservative growth rate is used that cannot exceed that of a country’s GDP growth. In this case, we used the 5-year average of the 10-year government bond yield (0.2%) to estimate future growth. Similar to the 10-year “growth” period, we discount future cash flows to their present value, using a cost of equity of 4.3%.

Terminal value (TV)= FCF2031 × (1 + g) ÷ (r – g) = € 419m × (1 + 0.2%) ÷ (4.3% – 0.2%) = € 10bn

Present value of terminal value (PVTV)= TV / (1 + r)ten= € 10bn ÷ (1 + 4.3%)ten= € 6.8bn

The total value is the sum of the cash flows for the next ten years plus the present terminal value, which gives the Total Equity Value, which in this case is 11 billion euros. To get the intrinsic value per share, we divide it by the total number of shares outstanding. Compared to the current share price of 33.6 €, the company appears to be slightly overvalued at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it’s best to take this as a rough estimate, not precise down to the last penny.

HLSE Discounted Cash Flow: KESKOB July 18, 2021

Important assumptions

The above calculation is very dependent on two assumptions. One is the discount rate and the other is cash flow. You don’t have to agree with these entries, I recommend that you redo the calculations yourself and play with them. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a full picture of a company’s potential performance. Since we consider Kesko Oyj to be a potential shareholder, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes into account debt. In this calculation, we used 4.3%, which is based on a leverage beta of 0.800. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our beta from the industry average beta from globally comparable companies, with a limit imposed between 0.8 and 2.0, which is a reasonable range for a stable business.

Next steps:

While valuing a business is important, it’s just one of the many factors you need to assess for a business. The DCF model is not a perfect equity valuation tool. Preferably, you would apply different cases and assumptions and see their impact on the valuation of the business. For example, if the terminal value growth rate is adjusted slightly, it can dramatically change the overall result. Why is intrinsic value lower than the current share price? For Kesko Oyj, we have compiled three fundamental aspects that you should explore:

  1. Risks: Concrete example, we have spotted 3 warning signs for Kesko Oyj you need to be aware of it, and one of them is a little rude.
  2. Future benefits: How does KESKOB’s growth rate compare to that of its peers and the wider market? Dig deeper into the analyst consensus count for years to come by interacting with our free analyst growth expectations chart.
  3. Other strong companies: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid trading fundamentals to see if there are other companies you might not have considered!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for each HLSE share. If you want to find the calculation for other actions, just search here.

If you are looking to trade a wide range of investments, open an account with the cheapest platform * approved by professionals, Interactive brokers. Their clients from more than 200 countries and territories trade stocks, options, futures, currencies, bonds and funds around the world from a single integrated account.

This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.
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In the booming housing market, renovators present both opportunities and challenges



In normal housing markets, Americans want move-in homes. But the post-pandemic housing market is far from normal, and soaring prices have caused home buyers to change their expectations.

According to a TD Bank survey of Americans looking to buy their first home in 2021, at least 71% are not looking for their dream home. Instead, they buy a starter house or a house to renovate.

For buyers frustrated with lack of inventory and skyrocketing prices, older homes can be a good compromise. Of course, buying a renovator means you are embarking on a project fraught with uncertainties.

Scott Lindner, national sales manager at TD Bank Mortgage, says buyers need to prepare for the special challenges that come with home renovations, like dealing with contractors and running endless errands at Home Depot. He asks a few questions about the top fixer trend:

Q: What drives interest in repairers?

A: We are seeing the prices go up. The National Association of Realtors says prices increased 23.6% from May 2020 to May 2021. This low inventory has been a problem since the 2008 financial crisis. We haven’t really added a lot of inventory.

Q: What types of loans are available for renovations?

A: Many lenders have an FHA 203 (k) loan that allows people to buy a home to renovate. If it’s a lower amount, you can pay off your old credit card balance, but you also need to understand what that means from an interest rate perspective.

If you already own the home, a home equity loan is an option. Many home equity loans achieve a loan-to-value ratio of 90%. And with interest rates where they are today, if you haven’t refinanced in the past year and a half, it might be a good idea to go ahead and do a cash refinance.

Q: What advice do you give to a first-time buyer who is considering a renovation?

A: First and foremost, be part of the inspection process. Buyers don’t always take this seriously. Maybe they hang out in the living room while the inspector makes his rounds. You should become attached at the hip. Truly think of the inspector as someone to go around and learn more about the property.

Also, a great way to buy a home is to sweat a lot of equity. If you can do a lot of the work yourself, you can potentially save a lot of money.

It is possible to discover additional issues, so be aware of cost overruns.

Q: What is a common mistake made by flooring buyers?

A: The most serious and damaging mistake is to underestimate the cost of your renovation. No matter how much you think you value, there are always surprises. You have to assume that there are going to be cost overruns. It is better to go there anticipating this. You should probably be thinking of a 15-20% cost overrun.


Petition for an increase in monthly payments from $ 2,000 to 3 million signatures



A popular online petition demanding monthly federal stimulus checks of $ 2,000 to “every” American continues to attract new signatures, approaching nearly $ 3 million in total.

Millions of Americans remain unemployed while many more have seen their finances suffer dramatically during the ongoing COVID-19 pandemic. Even as the economy improves and unemployment declines, millions of Americans believe the federal government should provide a fourth stimulus check – or recurring monthly payments – to support families and individuals.

In early Saturday afternoon, the Change.org petition calling for $ 2,000 per month to each American has garnered more than 2.63 million signatures. The petition currently aims to reach 3 million signatures in total, as dozens of congressional lawmakers have already expressed support for additional stimulus payments.

“Our country is still deeply in trouble. The recovery has not reached many Americans – the true unemployment rate for low-wage workers is estimated at over 20% and many people have faced heavy debt since that time. last year for things like utilities, rent and child care, explains the petition launched by Stéphanie Bonin. “These are all reasons why checks should be targeted on people who are still struggling and the Congress must learn lessons from the past year. “

Millions of Americans are demanding additional stimulus checks, with a popular petition on Change.org approaching 3 million signatures on Saturday. The photo above, taken April 29, 2020 in Washington, DC, shows a $ 1,200 stimulus check, which most Americans received last year after Congress approved direct payments in a bipartite vote in March 2020.
Chip Somodevilla / Getty Images

Bonin describes himself as “one of the millions of Americans who fear for my financial future because of this coronavirus crisis.”

As the lockdowns were implemented in the United States in March 2020, Congress met in a bipartisan fashion to approve one-time direct payments of $ 1,200 for the majority of Americans. Then, in December, Congress again passed bipartisan legislation that provided another $ 600 stimulus check to most of the American population.

After President Joe Biden took office earlier this year, Democrats passed another COVID-19 relief bill in March that handed out a third stimulus check of $ 1,400.

Meanwhile, more than 80 Democratic lawmakers in Congress have publicly expressed support for giving Americans new stimulus checks. Many have supported direct payments of $ 2,000 per month, as requested by the Change.org petition. Senator Bernie Sanders of Vermont and other prominent progressives have urged colleagues in Congress to support recurring payments to Americans since last spring.

In California, Governor Gavin Newsom and lawmakers have taken matters into their own hands. The state government approved additional direct payments of $ 600 for low-income California residents earlier this year. Then this month, Newsom signed new legislation that will grant more than $ 600 to low- and middle-income California residents, providing the stimulus checks to those earning up to $ 75,000 a year.

While there currently appears to be little significant effort from Congress to pass another round of stimulus checks – or recurring monthly payments – Democrats have been touting their landmark child tax credit policy, which was approved as part of Biden’s US bailout with stimulus checks of $ 1,400. . These direct payments started showing up in Americans’ bank accounts earlier this week. Qualifying Americans will receive up to $ 300 per month for each child under six and up to $ 250 per month for each child between the ages of six and 17.

The current child tax credit scheme is set to expire in 2022. But Biden and the Democrats in Congress aim to make the monthly payments permanent through a massive $ 3.5 trillion “human infrastructure” proposal, which the Senate Majority Leader Chuck Schumer, a Democrat from New York, and President unveiled this week. While Republicans appear to be largely opposed to the massive spending package, Democrats aim to push through the legislation through the budget reconciliation process that wouldn’t necessarily require GOP support.

News week contacted the White House and the office of House Speaker Nancy Pelosi to comment on future stimulus checks, but did not immediately receive responses.


Young entrepreneurs have the chance to sell their products on Saturday


FORT WAYNE, Ind. (WANE) – Young business owners have the opportunity to sell their products at the Junior Achievement Young Entrepreneur Market on Saturday.

“Junior Achievement truly believes in the power of entrepreneurship,” said Karen Cooper, vice president of Capstone Experiences. “It really gives you the opportunity to take control, to be your own boss, to sort of reap the rewards that can come with that.”

Saturday’s event features 19 young entrepreneurs, ages 8-23. The different types of businesses that sell artwork and jewelry, 3D printed objects, dog treats, people treats, and books.

Cooper said it was an opportunity for the young business owner to learn valuable life lessons.

“One is to earn what we have to give back to others, some of the kids here are taking and giving back to others,” Cooper said. “Others save, there is also a lesson in that. We really find that they are finding out about the products they are making and winning over the right audience.

The market is open from 9 a.m. to 1 p.m. at the corner of Barr Street and E Berry Street.

Anyone interested in getting involved with Junior Achievement can find more information here.

Megacap’s tech stocks are on a roll. They could prosper even if interest rates rose again.



Megacap tech stocks have outperformed the broader market lately. The NYSE FANG + XX index: NYFANG
– which includes Facebook FB,
GOOGL Alphabet,
Amazon AMZN
and Apple AAPL
– climbed 5% in the past month, compared to just 1% growth for the S&P 500 XX: SP500EW at equal weight.

Given the relief in bond yields, this makes sense. Tech stocks struggled when the yield on the 10-year Treasury BX: TMUBMUSD10Y
rose to 1.75%, which at Thursday’s close had fallen to 1.30%. The instinctive expectation of the markets is that when interest rates rise, tech stocks fall, and vice versa.

There are two reasons why this relationship should hold. The first is simply that higher interest rates stifle economic growth, increasing the cost of borrowing for consumers and businesses. The second is that, if a stock is the sum of its discounted future cash flows, then those flows are worth less, as the rate at which they are discounted increases. For growth stocks in the tech sector that focus more on future earnings than current earnings, a higher discount rate is bad news.

The point is that this relationship, while logical, is not supported by historical data. Andrew Berkin studied the relationship for an article, “What happens to stocks when interest rates rise. “Looking at 90 years of data, the S&P 500 SPX
rose an average of 10.8% when bond yields fell and 12.2% when bond yields rose. Even dividing the periods by quintiles when returns increased the most, the S&P 500 still gained 9% on average. The relationship, or non-relationship so to speak, also took place outside of the United States, although it spanned a shorter period of time.

For Chadd Knights, portfolio manager for Australia’s Duro Capital, who cited the document in an investment letter, rising rates shouldn’t really affect the investment process. According to Knights, Berkin also confirmed that growth stocks in particular are not negatively affected by higher interest rates.

“The reality is that most of us haven’t experienced a sustained rise in interest rates in the past. No one knows how people will react. And indeed, stocks can fall amid rising rates, even if history suggests otherwise. But what this document shows us is that it doesn’t necessarily have to be, which needs to be interpreted if you’re reading any of the popular financial media, ”Knights said.

Retail data at your fingertips

Key data is available with the June US retail sales report and, shortly after opening, the University of Michigan Consumer Sentiment report, the latter also paying close attention to reading consumer inflation expectations.

Moderna mRNA
jumped 8% in pre-market trade on news of the inclusion of vaccine-producing biotechnology in the S&P 500.

Intel INTC
is in talks to buy GlobalFoundries from Mubadala Investment for a valuation of around $ 30 billion, according to the Wall Street Journal. Deal would bolster Intel’s efforts to compete with Taiwan Semiconductor Manufacturing TSM
in the manufacture of electronic chips for other companies.

Alcoa AA aluminum producer
posted better-than-expected profits and increased its shipping forecast.

Didi Global DIDI
could see some pressure, after China sends regulators into the carpool business, further increasing the pressure on the company after its initial public offering in the United States.

Floods in Germany and Belgium have left at least 100 people dead, authorities said on Friday.

The steps

US ES00 Equity Futures

increased slightly before the retail sales report. The BX 10-Year Treasury Yield: TMUBMUSD10Y
also increased, to 1.33%.


When is the best time to buy BTCUSD bitcoin
? According to DataTrek Research, when volatility is low. “Buying during periods of low volatility (between 2% and 3%, ideally towards the lower end of that range) tends to generate positive future returns. The notable exceptions (September 2014, November 2018) came after particularly large rallies (November 2013, December 2017) which took longer to burn, ”he said, referring to periods of 100 days for volatility.

Random readings

A snake expert who said he was immune to the venom turned out, alas, not to be.

Restoration work on a 16th century painting will be wipe the smile at a vegetable vendor.

Twitter social media platform TWTR
go now subtitle voice tweets automatically.

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Asia-Pacific equities fall for the most part; Upcoming Bank of Japan rate decision



SINGAPORE – Stocks in the Asia-Pacific region fell mainly on Friday morning as investors await the Bank of Japan’s monetary policy statement.

The Nikkei 225 in Japan fell 0.84% ​​in morning trading while the Topix index slipped slightly. South Korea’s Kospi lost 0.52%.

In mainland China, the Shanghai composite fell 0.15% while the Shenzhen component lost 0.589%. The Hang Seng Index in Hong Kong rose 0.16%.

The Australian S & P / ASX 200 fell about 0.1%.

The MSCI’s largest Asia-Pacific stock index outside of Japan traded down 0.32%.

Looking ahead, the Bank of Japan is expected to release its monetary policy statement at 11:00 HK / SIN on Friday, which will include its decision on interest rates.

CNBC Pro Stock Selections and Investment Trends:

Overnight in the US, the S&P 500 lost 0.33% to 4,360.03 while the Nasdaq Composite fell 0.7% to 14,543.13. The Dow Jones Industrial Average rose 53.79 points to 34,987.02.

Currencies and oil

The US dollar index, which tracks the greenback against a basket of its peers, was at 92.607 after a recent rebound below 92.4.

The Japanese yen was trading at 109.94 per dollar, stronger than the levels above 110.4 seen against the greenback earlier this week. The Australian dollar changed hands at $ 0.7424 after falling from around $ 0.748 yesterday.

Oil prices were lower on the morning of trading hours in Asia, with international benchmark Brent crude futures slipping slightly to $ 73.42 a barrel. US crude futures were little changed, trading at $ 71.64 per barrel.

Here’s a rundown of what’s available:

  • Japan: Bank of Japan monetary policy statement 11:00 a.m. HK / SIN


Checkout.com founder Guillaume Pousaz talks fintech and cryptocurrency



Guillaume Pousaz went seven years without accepting external funding for his start-up. Now Checkout.com is one of the most valuable fintech unicorns in the world.

Pousaz initially wanted to become an investment banker, but he abandoned his studies in Switzerland to become a surfer in California. The Swiss-born entrepreneur then found a job with International Payments Consultants, but left to try his luck in creating a start-up. Pousaz finally launched Checkout.com in 2012 to solve the problem of processing online payments for merchants and their customers.

The company ranked 13th on this year’s CNBC Disruptor 50 list.

Checkout.com mainly flew under the radar until 2019, when it first brought in outside investors to raise a $ 230 million Series A round. The deal – said to have been done on “handshakes” rather than mod sheets – gave the company coveted “unicorn” status, with a valuation of $ 2 billion.

Since then, the company has experienced impressive growth, increasing transaction volumes by 250% over the past year and attracting reputable clients – from the Singaporean rideshare app Grab to the US online brokerage Robinhood – in the process of being built. road.

CNBC recently spoke to Pousaz, who said Checkout is only scratching the surface, despite tripling its valuation last year to become Europe’s most valuable private company.

The following questions and answers have been modified for length and clarity.

CNBC: It was reported that you wanted to become an investment banker, but instead dropped out of college to become a surfer in California before starting Checkout.com.

Pousaz: I was drawn to financial services because of my interest in how they fuel and develop the wider global economy, but I was at a point where I was very curious and adventurous. It took me to California. I was excited about the above all technological Californian creative mindset (as well as surfing!). This is where I got my first exposure to the world of payments. I immediately saw the potential and the issues that existed with many legacy vendors. I knew there had to be a better way to do things globally.

Even then, the e-commerce market was growing 20% ​​year over year. I thought digital commerce and payments would be the key to unlocking the next phase of global economic growth. Since the launch of Checkout.com in 2012, we’ve seen businesses embrace technology and payment collection shift from a commodity service to competitive advantage and a lever for strategic growth.

In the end, I left California and started Checkout.com in the UK, but our early California roots are reflected in our obsession with cutting edge, developer friendly technology. Our holistic approach, our rigor in developing the best technology and the discipline we have had to build a sustainable and profitable business have defined Checkout.com from the start. Today we have a global but local mindset. We believe in the importance of localization in our offering and the need to be on the ground to understand local nuances and consumer preferences to help us serve businesses that have a similar global footprint and outlook.

CNBC: Your business approaches fintech in a different way, thinking not only of payments, but also of payments. How did the approach both benefit and challenge you in such a crowded space?

Pousaz: We created Checkout.com to reinvent digital payments by delivering better performance and simplifying the challenges of scalability on a global scale. It is still our core business, but we have also evolved to create a differentiated offer for our merchants. Our technology is built in a modular fashion, providing businesses with a tailor-made solution developed for their specific needs. We don’t believe in a one-size-fits-all approach to payments; with Checkout.com, our merchants buy only the products and features they need. Second, our deeply localized approach to product building means we enable global businesses to meet the ever-changing needs of their customers, no matter where they are in the world.

Specifically on payments, we discovered an opportunity to enable merchants to optimize not only how money enters their business – through payments – but also how it flows in and out of their business – through payments. , currency and cash management,, soon, issue. It’s incredibly powerful because it enables innovation in digital commerce, like markets, the odd-job economy, and fintech. We partner with merchants like Klarna, Farfetch, Revolut, and Wise to help them deliver more to their customers. We are only scratching the surface of what is possible with payment capabilities, and consumers are starting to reap the benefits of this innovation.

CNBC: As a digital payment company, what do you think about the rise of certain cryptocurrencies? In the near future, are you planning to accept cryptocurrency as a payment method?

Pousaz: We’re really excited to see the innovation going on in crypto right now. We’re technologists at heart and believe in the power of technology to simplify financial services. Right now, we are working with crypto merchants like Coinbase to facilitate ramps or fiat to crypto payments.

Every now and then our traders tell us that they are considering accepting crypto payments. At the moment, adoption remains relatively low and therefore has not yet been on our roadmap, although I think it is certainly possible in the future. We continue to be engaged in the conversation and developments in cryptocurrencies and believe in the need for strong regulation to protect the ecosystem and the consumers it serves.

CNBC: You’ve said before that the long-term goal is a stock market listing, and more specifically that “there is no alternative at this point, given the size of the company.” Is there a particular route to public procurement that you find most interesting, namely through PSPC, direct listing or traditional IPO?

Pousaz: I think that eventually an announcement will be the right way for Checkout.com. From the early days, we have been profitable, which allows our team to continue to offer innovative product developments to serve as the backbone for the evolution of the digital economy. It has also enabled us to make strategic investments, such as Tamara and Thunes, to support the growth of the FinTech ecosystem on a global scale.

At the moment, we are still a few years away from listing, and the exact form remains to be determined, especially in such a dynamic market. Today, we are still focused on growing the business, providing exceptional customer service and cutting-edge payment technology to our merchants – they are the ones who really change the world.

– CNBC’s Ryan Browne contributed to this report.

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Private Markets: Make Your Fixed Income Portfolio Work Harder – Part 2



[Part 2 of 2]

With the Covid-19 vaccination program gaining momentum in the United States, acceleration in growth is expected as the national economy finally fully reopens. Rob Waldner, Chief Strategist and Head of Macro Research for Invesco Fixed Income, predicts that the economic recovery in the United States will exceed growth by 7% in 2021. What he calls at this point a “macro-factor framework” includes these high growth expectations, as well as benign inflation and policy. accommodative monetary policy.

“It’s a good environment for financial markets as a whole in terms of liquidity and stability,” says Waldner. “It’s also very good for things related to growth, like earnings and credit quality. In a world where Treasuries have negative real yields – we’re at about -0.6% real yield for the 10-year Treasury in the United States – there are going to be opportunities elsewhere in fixed income. .

In this context and to explore the opportunities in the private credit markets, he recently spoke with Scott Baskind, Head of Global Private Credit and Chief Investment Officer of Invesco’s Global Private Lending Platform, for Part 2 of our series focusing on how institutional investors can make their fixed income portfolios work harder and take advantage of the current scenario.

What are the opportunities like in the private fixed income universe?

Scott Baskind: There has been a drastic shift around business from a trust standpoint, not just in the United States, but around the world. We see opportunities in private credit that cut across several themes. One is the more liquid part of the substandard credit space in bank loans. In addition, we see opportunities in the realm of direct lending and private debt, defined by lending to middle market companies, and in the troubled credit spectrum. We have seen a significant recovery in many sectors and this has supported credit assets and risk assets overall.

Tell us more about your perspective on the advisability of bank loans.

Baskind: There is a need for income among global investors, and this is common in conversations with our investor base on the more liquid part of traditional bank lending. Bank loans have priority in the capital structure, secured by 100% of the assets of an underlying business. Their floating interest rates lead to some of the opportunities we see today. Historically, bank lending has been defensive in nature – we have only experienced two years of negative total return in the past three decades, and this is largely supported by the high credit spread above a component of floating rate.

It is also important for investors to consider whether in the broad space of bank lending to mitigate and profit from the interest rate environment we find ourselves in today – and one towards which we might. lead us over the next few years. Bank loans float as interest rates rise, so from a duration perspective, they do not share negative implications with fixed rate instruments.

Do you expect bank loan issuance to remain strong?

Baskind: We do. Bank lending for mergers and acquisitions is one of the primary ways that U.S. and global businesses use capital markets, and we expect this activity to continue to be robust. And for investors looking for capital protection, we continue to see strong inflows into bank lending as an asset class. This flow picture has changed dramatically with less political uncertainty in the wake of the US general election and is also reinforced by economic growth and concerns about an inflationary environment. In short, with currently high incomes in a floating rate environment, our global clients are enthusiastically engaging in bank lending.

Earlier you mentioned direct loans and distressed credit as areas of opportunity as well. What do you see that makes you believe that?

Baskind: Many illiquid private credit assets, such as direct loans, do not exhibit the same performance data as public markets and, therefore, can act as a buffer for portfolios and for asset distributors. And as we have seen a tightening of bank lending liquidity, opportunities have arisen in the realm of direct lending as investors continue to move from public to private markets due to the search for income.

In the struggling market, we have a strong focus on small and mid-cap companies, where growth is starting to present operational challenges. Their challenges are less likely to result from the business cycle and more likely to be caused by idiosyncratic events. These companies don’t have the same buffer or liquidity as some large companies, and when idiosyncratic events arise, they can easily end up with over-leveraged balance sheets. In these situations, you can buy them at very low prices relative to par and ultimately create the potential for very substantial returns for investors.

There is a view that the opportunity in troubled credit has passed. You obviously don’t agree with that from a mountain point of view – but is it true to some extent?

Baskind: This is quite true in the large liquid part of the market. Government intervention helped consolidate liquidity and strengthen balance sheets. Many of the companies in the small and mid-cap sector are owned by private equity firms and were not eligible for some of the loans that were readily available to many large companies. As a result, the need for liquidity and new small and mid-cap lenders provides investors with a continued distressed credit opportunity.

Scott Baskind quote 2

How does your team think about asset allocation in private markets in different market cycles?

Baskind: We spend a lot of time thinking about asset allocation from a dynamic perspective, that is, throughout a full cycle. Historically, many investors have focused on individual verticals, but interest is growing around multi-strategy portfolios. The goal is to have the ability to maneuver successfully through the transitional periods within a cycle and between one cycle and the next. For example, having the most liquid part of the credit space carrying the day into the strongest part of the business cycle, then being able to rebalance quickly and dynamically to add the less liquid components of credit as the end of a cycle ends and perhaps increased volatility emerges as we enter a period of recession. In this scenario, investors are looking to earn returns and invest in volatility. It takes dynamism to move from the highly liquid part of the credit universe – bank loans and high yield bonds – to a less liquid direct lending or private debt market, then struggling when the opportunity arises. present. Ultimately, this can prove to be very beneficial for investors.

When looking for returns and taking more risks in this type of environment, what are the trade-offs?

Baskind: From a credit risk perspective, it’s important that investors think about diversification across the risk spectrum. There is a general need to downgrade in order to seek income. However, we prefer to view it as being more selective in the sense of desirability. Within the non-investment grade space, for example, there are opportunities in BB and B credits, as well as in CCC and C credits. In each of these compartments, the bifurcation is quite significant, especially when you descend in quality. We are constantly on the lookout for higher conviction opportunities to take risks and for companies that have taken the leap. The economy is quite credit risk friendly at this point, and the ability to invest in companies that have emerged from the depths of the business cycle could help in terms of risk taking. The environment we find ourselves in today will not last forever and being able to go back and forth across the liquidity spectrum – which also dictates risk in some ways – will be quite critical. The health of the underlying companies will ultimately dictate the level of risk investors should be prepared to take.

How is ESG a factor in private credit markets?

Baskind: Our philosophy is that ESG considerations are credit risks for an issuing company. We started rating companies for ESG in the private space about 10 years ago, and today we are rating well over 800 unique issuers. What is quite different between private and public markets from an ESG perspective is the lack of readily available information on private companies. Part of our strength as a private credit team at Invesco lies in our interactions with management teams, in the due diligence of thousands of companies, and in their rating both from a credit risk perspective and from a credit risk perspective. through the prism of ESG factors. This represents a significant improvement in our underwriting standards over time.

Read Part 1 of this story to find out how to make your fixed income portfolio work harder in the public markets.


This article is intended for U.S. institutional investors and accredited investors in Canada only. Accredited investors within the meaning of Regulation 45-106. The content was developed in March 2021. TThis is for informational purposes only and does not constitute an offer to buy or sell financial instruments. As with all investments, there are inherent risks associated with it. This should not be taken as a recommendation to buy an investment product. Please obtain and carefully review all financial documents before investing. The opinions expressed in this article are those of the authors and are based on current market conditions and are subject to change without notice. These views may differ from those of other Invesco investment professionals.

Invesco Advisers Inc. is an investment advisor; it provides investment advisory services to individual and institutional clients and does not sell securities. NA5850

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Women business owners in Newport discuss pandemic struggles


NEWPORT – Newport County resident Laurie Ruttenberg who owns the Lucky Dog Resort in Middletown is exhausted. For months now, she has been working 100 hours a week at her business, as finding and retaining employees has been a challenge since the COVID-19 pandemic struck in 2020.

Still, she is determined to keep her business open and she is determined to grow it.

On Wednesday, Ruttenberg was a handful of female business leaders from across Rhode Island, who attended a community panel discussion hosted by Goldman Sachs 10,000 Small Businesses Voices.

Lieutenant Governor Sabina Matos of Rhode Island and Newport Senator Dawn Euer also attended the discussion.

“We were able to voice our concerns as women small business owners who survived the pandemic and are looking to move forward, forward and climb. We talked about our main issues, some of which are were about finding good staff, or staffing in general, childcare, access to capital and other things that impact us moving forward, ”said Ruttenberg .

A shortage of employees

Specifically, Ruttenberg said Lucky Dog Resort is facing an employee crisis. The problem resulting from the pandemic, she said, is that the salary range desired by employees of small business owners is untenable.

Lucky Dog Resort currently employs four people, including Ruggenberg, who six years ago rolled his 401,000 to start the resort. Ideally, she said she needed at least double that amount.

After:Lifeguard shortage leads to unsupervised waters at Easton’s Beach in Newport

Salary expectations aside, Ruttenberg said it has become increasingly difficult to find the right type of person to care for the animals she hosts.

In Bristol, Jennifer Cavallaro owns the Beehive Cafe and is also experiencing a shortage of employees.

She told Matos on Wednesday that her employees had told her categorically that they would not return to work until their unemployment ended in August.

During the pandemic, for the first time since it opened, Cavallaro said at one point she had no applications on file, but that has recently changed.

“Now we’re starting to get a flood of applications from completely overqualified people. I think they’re just showing they’re looking for work, because they have to show that ‘so oh, I applied to Beehive. I’m a cook or chef making $ 300,000 a year, but I’m going to go to a cafe in Bristol, “that doesn’t make sense, and then they never show up for the interview,” she said.

After:Greenleaf Compassion Center trade unionist says unfair dismissal was retaliatory

Cavallaro said she had no problem with the extra money the government issued, but it shouldn’t have been linked to unemployment.

The employee problem, she said, is expected to resolve at the end of August when the additional unemployment payment is expected to end, but the money her business usually earns in the summer pushes them to get through the winter.

She was able to stay open thanks to money issued by the state of Rhode Island and the PPE, and she’s grateful for that, but the situation with the extra unemployment hasn’t helped her.

Childcare issues

Child care was another concern. Andrea Baranyk, owner of Northeast Collaborative Architecture, said most of her staff are still working from home and when she returns to full-time, childcare will be a touchy subject to discuss.

“We work well remotely, but a lot of our employees have young children. So the kids have stayed at home during all of this and of course it’s summer, so we’re talking about bringing them back to the office,” he said. she declared.

Taking that leap, she said, is going to be difficult.

After:McKee: People around the world “discover beautiful Rhode Island” in Newport

Bliss Salon owner Christine Paige said the majority of her employees are women, and most women have a problem with childcare in her industry.

“Because of the hours you have to work when you get your first degree, being able to afford it, sometimes money just doesn’t make sense right away, because as a graduate of a cosmetology school, she can’t rent a chair properly. far they have to be employees and schedules, and that sort of thing. Sometimes the balance just isn’t there, “she said.

Paige said babysitting is so expensive, and sometimes things don’t always go as planned when clients get their hair done, so her stylists have to pick up their kids from their caregivers due to the hours, and they bring them back to the living room.

“We’re just trying to make it work and I think I mentioned when I met VP Kamala Harris that maybe there should be night shift programs. Since there is a daycare. , there should be programs that go in 7 or 20 hours, just because everything has changed so much. Everyone is trying to get back on their feet. Everything is so up in the air, “she said.

After:Newport County elected officials debate in-person or virtual town hall meetings

Minerva Waldron, owner of the Over the Rainbow Learning Center, said there should be a strong child care system within the state.

“A strong child care system takes a lot of resources from the government. Just like the regular school, something is going to have to change,” she said.

The sweet spot

Ruttenberg said she was considering a possible solution to some of these problems.

Lucky Dog Resort owner Laurie Ruttenberg said one of her company's current challenges is finding and retaining employees.  On Wednesday, July 14, 2021, Ruttenberg attended a panel discussion with Rhode Island Lieutenant Governor Sabina Matos and Newport Senator Dawn Eaur, and several women entrepreneurs.

“There’s a reset that’s been going on since the pandemic and there are so many different levels. Not the least of what people want to do with their lives, and how they’re going to be compensated for it. ‘a small from a business point of view as well as from a government point of view, if we could look at things that we could do that would not only help the employee but also the small business to thrive, that is where the sweet spot is. I’m not sure, “she said.

The solution, she says, is about pay scales and appropriate compensation, but also helping the business owner to be able to afford it.

“So health incentives, childcare incentives, something like that would be super helpful, and I’d love to work on something like that so we can get to the point where it wasn’t so. difficult, because it’s so incredibly difficult right now, ”she said.

Bethany Brunelle can be reached at [email protected] 907-575-8528 or @bethanyfreuden1 on Twitter, Insta: bethanyfreudenthal, TikTok: thehijabicrimereporter, Muckrack: https://muckrack.com/bethany-freudenthal

Does Virbac SA (EPA: VIRP) trade at a 22% discount?



In this article, we will estimate the intrinsic value of Virbac SA (EPA: VIRP) by projecting its future cash flows and then discounting them to the current value. This will be done using the Discounted Cash Flow (DCF) model. Before you think you won’t be able to figure it out, read on! It’s actually a lot less complex than you might imagine.

We draw your attention to the fact that there are many ways to assess a business and, like DCF, each technique has advantages and disadvantages in certain scenarios. Anyone interested in knowing a little more about intrinsic value should read the Simply Wall St analysis model.

See our latest analysis for Virbac

The method

We use the 2-step growth model, which simply means that we take into account two stages of business growth. In the initial period, the business can have a higher growth rate, and the second stage is usually assumed to have a stable growth rate. To begin with, we need to estimate the next ten years of cash flow. Where possible, we use analyst estimates, but when these are not available, we extrapolate the previous Free Cash Flow (FCF) from the latest estimate or stated value. We assume that companies with decreasing free cash flow will slow their rate of contraction, and companies with increasing free cash flow will see their growth rate slow during this period. We do this to reflect the fact that growth tends to slow down more in the early years than in subsequent years.

In general, we assume that a dollar today is worth more than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at an estimate of the present value:

10-year Free Cash Flow (FCF) estimate

2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Leverage FCF (€, Millions) € 81.0m 106.1 M € € 116.9m € 127.4m 134.6 M € 140.1 M € € 144.3m 147.4 M € € 149.8m € 151.7m
Source of estimated growth rate Analyst x5 Analyst x5 Analyst x2 Analyst x2 East @ 5.67% Is 4.08% Est @ 2.96% Is @ 2.18% East @ 1.64% Is @ 1.25%
Present value (€, Millions) discounted at 4.5% € 77.5 € 97.2 € 102 107 € € 108 107 € € 106 104 € € 101 € 97.5

(“East” = FCF growth rate estimated by Simply Wall St)
10-year present value of cash flows (PVCF) = 1.0 billion euros

The second stage is also known as terminal value, this is the cash flow of the business after the first stage. The Gordon growth formula is used to calculate the terminal value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 0.4%. We discount the terminal cash flows to their present value at a cost of equity of 4.5%.

Terminal value (TV)= FCF2031 × (1 + g) ÷ (r – g) = € 152m × (1 + 0.4%) ÷ (4.5% – 0.4%) = € 3.7bn

Present value of terminal value (PVTV)= TV / (1 + r)ten= € 3.7bn ÷ (1 + 4.5%)ten= € 2.4 billion

The total value, or equity value, is then the sum of the present value of future cash flows, which in this case is 3.4 billion euros. To get the intrinsic value per share, we divide it by the total number of shares outstanding. Compared to the current share price of € 311, the company appears to be slightly undervalued with a discount of 22% compared to the current share price. Remember, however, that this is only a rough estimate, and like any complex formula – trash in, trash out.

ENXTPA: Discounted cash flow VIRP July 15, 2021

The hypotheses

The above calculation is very dependent on two assumptions. One is the discount rate and the other is cash flow. Part of investing is coming up with your own assessment of a company’s future performance, so try the math yourself and check your own assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a full picture of a company’s potential performance. Since we consider Virbac as a potential shareholder, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes debt into account. In this calculation, we used 4.5%, which is based on a leverage beta of 0.800. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our average beta from the industry beta of comparable companies globally, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable company.

Next steps:

While a business valuation is important, it shouldn’t be the only metric you look at when researching a business. It is not possible to achieve a rock-solid valuation with a DCF model. Preferably, you would apply different cases and assumptions and see their impact on the valuation of the business. For example, changes in the company’s cost of equity or the risk-free rate can have a significant impact on valuation. What is the reason why the stock price is below intrinsic value? For Virbac, we have compiled three fundamental elements to assess:

  1. Risks: Every company has them, and we have spotted 3 warning signs for Virbac (of which 1 is of concern!) that you should know about.
  2. Future benefits: How does VIRP’s growth rate compare to that of its peers and the broader market? Dig deeper into the analyst consensus count for years to come by interacting with our free analyst growth expectations chart.
  3. Other strong companies: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid trading fundamentals to see if there are other companies you might not have considered!

PS. Simply Wall St updates its DCF calculation for every French stock every day, so if you want to find the intrinsic value of another stock just search here.

If you are looking to trade Virbac, open an account on the cheapest * platform approved by professionals, Interactive brokers. Their clients from more than 200 countries and territories trade stocks, options, futures, currencies, bonds and funds around the world from a single integrated account.

This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in the mentioned stocks.
*Interactive Brokers Ranked Least Expensive Broker By StockBrokers.com Online Annual Review 2020

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


Lower and higher interest rates



Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners.

The pandemic has negatively impacted consumer wallets in multiple ways. Credit card issuers have responded to changing consumer habits and new financial constraints by offering higher reward rates on certain expense categories or reducing annual fees on certain cards. While some banks have been proactive in this area, many have asked their credit card issuers for better terms on their cards.

A recent report from LendingTree found that of the 47% who asked for better terms on their credit cards, the majority cited the pandemic as their main reason for doing so. Asking for different terms on your credit card could range from asking for a waived or reduced annual fee, a lower APR, a larger line of credit, or a larger signup bonus.

When you decide to ask, it’s best to call customer service.

John Ulzheimer, a credit expert formerly with FICO and Equifax, distinguishes between the different types of requests that cardholders make to card issuers as either a risk assessment issue or a marketing issue.

Ulzheimer describes marketing problems as requests for a larger welcome bonus or reduced (or waived) annual fees. Credit card issuers are more than willing to respond to these small demands because they want to keep you as a customer.

Some card issuers, like American Express, are known to be more responsive to requests. Amex has its own retention offers service that you can be transferred to when you call. According to a 2020 JD Power Credit Card Satisfaction study, Amex ranked first in customer satisfaction among national card issuers.

Brendan Dorsey, an editor at Select, and Brett Holzhauer, a reporter for Select, each successfully evaluated the loyalty offers by calling or texting Amex customer service.

Holzhauer was able to secure a better interest rate and a bonus offer, which required a certain amount of spending within a period of time, on his Blue Business® Plus credit card from American Express in June 2020.

Dorsey recently secured a retention offer on three of its Amex cards: the American Express® Gold card, the American Express® Platinum card and the Hilton Honors American Express Aspire card.

American Express® Gold Card

On the secure American Express site

  • Awards

    4X Membership Rewards® points on restaurants (including takeout and delivery, as well as Uber Eats purchases) and in U.S. supermarkets (up to $ 25,000 per calendar year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel. com, 1X points on all other purchases

  • Welcome bonus

    60,000 Membership Rewards® points after spending $ 4,000 on qualifying purchases within the first 6 months of opening the account

  • Annual subscription

  • Intro APR

  • Regular APR

  • Balance transfer fees

  • Foreign transaction fees

  • Credit needed

“I asked if they could waive the annual fee for my credit cards. I mentioned that it was difficult to justify paying so many annual fees for travel credit cards during a travel restriction period. because of Covid-19, “says Dorsey.

Dorsey was able to earn 30,000 Membership Rewards points on her Platinum card, 10,000 Membership Rewards points on her Gold card and 10,000 Hilton Honors points on her Aspire card without having to meet spending requirements. He notes that he was also able to secure similar retention offers during the pandemic-free years.

John Schulz, chief credit analyst at LendingTree, points out that whether or not there is a pandemic, there are always relatively high success rates when it comes to asking for better terms on your card.

“We have very high success rates when it comes to claiming a lower APR or waiver fees,” Schulz said. “It’s not just a function of the pandemic.”

Request a lower interest rate or increase your credit limit

Ulzheimer suggests that people keep their expectations reasonable when making larger demands, which he describes as risk assessment issues. This includes asking for a significantly lower APR or a much higher credit limit.

These requests typically require card issuers to do a thorough investigation of your credit report, which can cause your credit score to drop slightly. If you are planning to apply for a mortgage or buy a car in the near future, you may want to delay these applications due to your declining credit score.

Schulz says people don’t negotiate because they often don’t know they can. The LendingTree study found that 28% of those who said they didn’t ask for different terms on their credit cards didn’t know they could.

“A lot of people just don’t know they can [negotiate]. There is also a large group of people who don’t like negotiation and don’t like confrontation and don’t pick up the phone just because they’re afraid to do so. This is understandable, because trying to trade against a giant, giant financial institution can be intimidating, “Schulz said.” But the truth is, people need to realize that they have more power in their dealings with their issuers. of credit cards… “

Whether you ask your issuer for something small, like a reduction in your annual fee or a larger request, like a doubling of your credit limit, you have nothing to lose by picking up the phone and talking to your bank. . It could save you real money and the worst they can say is “no”.

For pricing and fees for the American Express Gold Card, click here.

Information on the Hilton Honors American Express Aspire Card was independently collected by CNBC and was not reviewed or provided by the card issuer prior to publication.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


Surprise drop in China’s RRR prompts markets to ponder rate cuts and other easing



The headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China on September 28, 2018. REUTERS / Jason Lee

SHANGHAI, July 14 (Reuters) – China’s surprise decision to lower its banks’ reserve requirements last week leads some market analysts to speculate that a cut in the country’s benchmark lending prime rate may be next , maybe next week.

The People’s Bank of China (PBOC) on Friday announced the reduction in the amount of liquidity banks must hold as reserves, releasing about 1,000 billion yuan ($ 154.43 billion), more than expected. It is effective from July 15.

While the majority of market participants believe that the RRR cut was intended to stabilize banks’ financing needs and reduce their costs to support credit growth, others believe that a cut in key rates would complement this new bias. conciliatory.

According to the latest Reuters poll released on Tuesday, the PBOC is expected to cut the RRR by another 50 basis points in the fourth quarter, as pressure on the economy persists while consumer inflation eases. Read more

Below are some comments from analysts and economists on the outlook for the Prime Lending Rate (LPR) and the Medium Term Loan Facility (MLF) rate. The PBOC is expected to make an MLF loan maturity announcement on Thursday, while the next LPR setting will take place on July 20:


“Reducing the RRR is one of the government’s regulatory tools, and its goal is to reduce the costs of financing businesses. The market is now focusing on whether the LPR would be lowered as well.”

“If the LPR is lowered this month, the possibility of a subsequent rate cut on the Medium Term Loan Facility (MLF) will be lower. If the LPR is unchanged after the RRR cut this month, the MLF rate is likely to be lowered in the future to guide LPR reduction. “

“Overall, as the call for lower financing costs has not changed, and has become even more urgent, the chances of introducing various tools will not be ruled out in the future.


“The impact of a reduction in the RRR and the benchmark deposit rate on lowering bank financing costs is likely to lower the LPR fixing rate.”

“Even if the MLF interest rate is not adjusted, the increase can be effectively reduced, which will be a relatively powerful push for the LPR’s downtrend.”


“After this RRR reduction, we think the probability of another reduction before the end of this year is not great, maybe less than 50%, and if there is another reduction, it will be very probably a targeted reduction, instead of a universal reduction.And we believe the PBOC will rely more on its lending facilities such as MLF, on-lending and rediscounting to provide long-term liquidity if needed.

“If the PBOC cuts the MLF rate or the LPR rate later in the month, it could open the door for another rate rally. However, with our base scenario for no change in key rate levels, we believe that the probability of a significant rally from current levels is not high and prefers to receive on rebounds. “


“There are a few things to note about the divergence in PBOC-Fed policies. First, the Fed is expected to decline by late 2021 / early 2022, while the PBoC has already eased.

“Second, the United States appears to have a higher tolerance for COVID-19 and seems more aggressive on the fiscal front. These could be more favorable to the US economy at this point in the cycle. By comparison, China has been more cautious on COVID-19 handling and more tax conservative.

“Given this development, we now see the 1-year LPR holding steady until 2022.”


“The LPR and the MLF are deeply rooted, and the MLF rate has played a benchmark role for the LPR. A decrease in RRR does not necessarily lead to a decrease in LPR. “

“The reduction in the RRR is expected to save banks around 13 billion yuan in interest payments, and this translates to less than one basis point of the overall cost of bank debt…”


“We think the odds of an MLF and OMO rate cut this month are not high, but let’s see the odds of an LPR cut.”

“According to a questionnaire we conducted, the majority of investors believed that 10-year (Chinese) T-bill yields could fall to 2.8% -2.9%… And we basically agree. “

The 10-year rate is now slightly below 3%.


“The initial intention of reducing the PBOC’s RRR was likely to cushion shocks to market liquidity and businesses … And the central bank could continue to maintain balanced market liquidity, so we maintain our forecast that China’s LPR will not be changed this year. “


“The State Council statement signals that policymakers may be more accommodating than previously thought. Given this surprise, it is now possible that the PBOC will make a slight 5 basis point cut. key rates in the second half of the year. “

($ 1 = 6.4755 Chinese yuan)

Reporting by Winni Zhou and Andrew Galbraith Editing by Vidya Ranganathan and Kim Coghill

Our Standards: Thomson Reuters Trust Principles.


Epson Expression inkjet printer / scanner with AirPrint gets rare $ 230 rebate (save $ 70)



B&H offers Epson Expression XP-970 Inkjet Printer and Scanner for $ 229.99 shipped. Corresponding to Best buy. This has been going on for over $ 300 on Amazon, and today’s sharp drop to $ 70 marks the best price we’ve ever followed. Small but powerful, this compact printer is ready to handle large color prints up to 11 x 17 inches at a speed of 8 pages per minute, or 8.5 black and white pages. Optimally, it will be able to create borderless color photos up to 5760 x 1440 dpi, but as a digital scanner that jumps up to 9600 x 9600 dpi at the maximum. It’s also configured with Apple AirPrint, so you don’t get bogged down with desktop transfers every time you need to use it, as well as Alexa and Assistant capabilities. Currently evaluated 4.5 / 5 stars. Go below to find out more.

Looking for something a little more basic to fit your budget? This Canon Pixma model is only $ 79, and only requires two ink cartridges to operate. This is in addition to the built-in Wi-Fi for wireless printing, and even if you lose smart home support here, you can still use Apple AirPrint to bring your photos to life right from your iPhone or other iOS device. Rated 4.3 / 5 stars more than 3,400 clients.

Speaking of which, have you seen the deal we just got on the new 12.9-inch iPad Pro M1? He sees his first discount at the moment at $ 100 off, alongside the 11-inch model $ 750. These latest offerings from Apple pair the coveted M1 chip with a Liquid Retina XDR display and Wi-Fi 6 capabilities. These deals probably won’t last long, but even if you’re missing out today, our Apple guide is the place. great for checking out all the latest and greatest savings.

Features of the Epson Expression XP-970 printer:

Create the large 11 x 17-inch photos you’ve always dreamed of with the Epson Expression Photo XP-970 Small-in-One Inkjet Printer, which offers high-quality imaging as well as the ability to scan and copy documents. Capable of printing at fast speeds of 8.5 ppm black or 8 ppm color with a six-color Claria Premium ink set and achieving a maximum resolution of 5760 x 1440 dpi, the XP-970 will run at both for photographs and high performance. voluminous documents. It also enables two-sided printing, scanning and copying of documents.

FTC: We use automatic affiliate links which generate income. After.

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Interest rate, home banking fees reviewed by this bank – Check details



A unique feature of India Post Payments Bank savings account is its “bank with QR card”.

India Post Payments Bank account holders will now earn less on their savings account balance while paying more for home services. The IPPB has revised its home banking fees as well as its interest rate on all customer variants of Savings Accounts.

India Post Payments Bank revised their home banking charges effective August 1, 2021. Currently there are no charges applicable on home banking services as they have been removed. From August 1, 2021, IPPB Doorstep bank charges will be Rs 20 for each request per customer.

For savings accounts, the interest rate has dropped as of July 1, 2021, however, this will depend on the account balance.

Currently, the balance up to Rs 1 lakh reports 2.75%, while it has been revised to 2.5% per year from July 1, 2021. On the balance greater than Rs 1 lakh up to Rs 2 lakh, there is no change and account holders will continue to earn 2.75 percent per year. The payment frequency is quarterly for account holders.

IPPB is a payment bank and the maximum balance per customer at the end of the day has already been increased from Rs 1 lakh to Rs 2 lakh for these banks. End-of-day balance above Rs. 2 lakh can be transferred to a linked postal savings account which currently earns 4 percent per annum.

A unique feature of India Post Payments Bank savings account is its “bank with QR card”. The biggest advantage of the QR card is that there is no need to remember the account number or password to perform banking activities as authentication can be done using biometrics of the account holder. You can also take advantage of the NEFT, IMPS, RTGS fund transfer modes via the IPPB account.

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Jackson mayor unveils water bill cancellation plan to reduce debt



Jackson residents with overdue and eligible water bills can get some relief through a program to catch up on overdue bills and get potential debt relief.

Mayor Chokwe Antar Lumumba detailed the plan on Monday, which will allow the city to draw up payment plans giving customers extra time to pay their water bills. It will come into effect on July 19.

Lumumba said the program applies to low-income residents, those with water problems related to faulty equipment, and residents affected by weather events.

The city’s water customers owe more than $ 100 million in unpaid bills. Collecting this money is widely seen as essential for the city. The money could be used for widespread infrastructure issues with the water system and invested in installing a new system, including water meters, other equipment and software “from scratch.” ”Said Lumumba.

“The city’s water problems have been well documented …” Lumumba said during a press briefing at town hall. “I ask all residents to be part of the program. If you qualify for the low income program, you can expect to turn the page.

Jackson Mayor Chokwe Antar Lumumba reveals details of the city's water bill cancellation plan as Sally Doty, Executive Director of Mississippi Utilities Personnel, stands behind him at the Hotel de Jackson City on July 12, 2021. Lumumba, Doty, and Director of Public Works Charles Williams made revisions to the Pardon Bill that was enacted by Gov. Tate Reeves.

For those with significant debt, the plan will allow residents to pay a monthly amount with an additional $ 10 over several months to cover overdue bills. As long as the resident pays on time, some debts can be canceled, Lumumba said.

“As a city, we’d rather get 50% of someone’s bill than 100% of nothing,” Lumumba said.

The city is considering a new water billing system:Plan to overhaul Jackson’s water billing system in two months, consultant says

All residents expected to pay something; water cut looms

Meanwhile, Lumumba warned that those who haven’t received a water bill can expect to see one in the near future. He said the city’s 14,000 or so water customers considered “stranded”, or not receiving a bill, can expect to pay a flat rate. The package remains to be determined. The city has 43,000 water customers.

The mayor said that with a plan in place, the city will resume water cuts again from September 1.

A moratorium on water cuts to non-paying customers was put in place during the pandemic. When that deadline expired, the city continued its own moratorium policy as a three-member council committee met to discuss the details of the payment plan.

“For all those people who came to see me year after year and told me that I had not received a bill or that my water bill was too high, I ask you to be part of this program”, said Lumumba.

The plan’s announcement comes nearly 10 years after the city signed its $ 89 million contract with Siemens Industry Inc. and several Jackson contractors to overhaul the billing system. This contract guaranteed savings but resulted in widespread problems with the system that persist.

The inability to collect water revenue has been the city’s biggest financial challenge, resulting in shortages of several million dollars each year. It has also affected the city’s bond rating since Jackson was forced to borrow from his general fund to cover deficits.

A new system would have automated meters capable of collecting and storing water billing information remotely and also allowing customers to view and pay their bill by mobile phone, as well as start or transfer service. online.

Governor Tate Reeves signed the Water Forgiveness Bill in April after vetoing a similar bill the year before. Reeves said he wanted to make sure there were some guarantees in the final version.

The second time is a charm:Jackson’s taxpayer water rebate bill will become law

Contact Justin Vicory at 769-572-1418 or [email protected] To pursue @justinvicory on Twitter.


“Someone worthy”: salon owner sells business to employee for $ 1


Scissors, brushes and other hairdressing accessories lie in a box in a barber shop. (Photo by Sean Gallup / Getty Images)

NEW HAVEN, Connecticut (AP) – Salon owner Pio Imperati took a chance and hired hairstylist Kathy Moura right out of technical high school 15 years ago. It worked so well that Imperati sold him his venerable New Haven, Connecticut business for $ 1.

“She’s a good hairdresser, a good barber, she’s very nice,” Imperati told the New Haven Register of the sale of Pio of Italy Hair Studio. “I sold it to him for $ 1 to keep us friends.”

While Moura will pay rent to Imperati, she avoids charges of up to tens of thousands of dollars to purchase a salon for equipment, supplies, and clientele.

Imperati, 79, now works there as an independent entrepreneur.

“In the end, it was my dream come true to be able to entrust the salon to someone worthy,” he said.

Imperati has been in business for around 56 years in various places and in various forms, starting with a barber shop in 1965, according to the newspaper.

Moura, 32, remembers that at the end of her studies “nobody would hire me because I had no experience”. She called a teacher for help and got Imperati’s phone number. He and his wife tried her out and eventually hired her.

“We grew up as a family. … This is how he treats everyone who enters the living room, ”Moura said of Imperati. “Everyone who works here wants you to thrive and become something of yourself.”

Swire Properties Limited Embedded Value Estimate (HKG: 1972)



How far is Swire Properties Limited (HKG: 1972) from its intrinsic value? Using the most recent financial data, we’ll examine whether the stock price is fair by taking the company’s future cash flow forecast and discounting it to today’s value. We will use the Discounted Cash Flow (DCF) model on this occasion. Believe it or not, it’s not too hard to follow, as you will see in our example!

We generally think of a business’s value as the present value of all the cash it will generate in the future. However, a DCF is only one evaluation measure among many, and it is not without its flaws. Anyone interested in knowing a little more about intrinsic value should read the Simply Wall St analysis model.

Check out our latest review for Swire properties

The calculation

We use the 2-step growth model, which simply means that we take into account two stages of business growth. In the initial period, the business can have a higher growth rate, and the second stage is usually assumed to have a stable growth rate. In the first step, we need to estimate the cash flow of the business over the next ten years. Where possible, we use analyst estimates, but when these are not available, we extrapolate the previous free cash flow (FCF) from the last estimate or stated value. We assume that companies with decreasing free cash flow will slow their rate of contraction, and companies with increasing free cash flow will see their growth rate slow during this period. We do this to reflect the fact that growth tends to slow down more in the early years than in subsequent years.

A DCF is based on the idea that a dollar in the future is worth less than a dollar today, so we discount the value of those future cash flows to their estimated value in today’s dollars. hui:

10-year free cash flow (FCF) forecast

2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Leverage FCF (HK $, Million) HK $ 4.52 billion HK $ 6.19 billion HK $ 6.92 billion HK $ 8.14 billion HK $ 9.03 billion HK $ 9.77 billion HK $ 10.4 billion HK $ 10.9 billion HK $ 11.3 billion HK $ 11.6 billion
Source of estimated growth rate Analyst x4 Analyst x3 Analyst x1 Analyst x1 Est @ 10.94% Est @ 8.1% Est @ 6.11% East @ 4.72% East @ 3.75% East @ 3.07%
Present value (HK $, Millions) discounted at 7.7% HK $ 4.2k HK $ 5.3k 5.5,000 HK $ HK $ 6.1k HK $ 6.2k 6.3k HK $ HK $ 6.2k HK $ 6.0k 5.8,000 HK $ 5.5,000 HK $

(“East” = FCF growth rate estimated by Simply Wall St)
10-year present value of cash flows (PVCF) = HK $ 57 billion

It is now a matter of calculating the Terminal Value, which takes into account all future cash flows after this ten-year period. For a number of reasons, a very conservative growth rate is used that cannot exceed that of a country’s GDP growth. In this case, we used the 5-year average of the 10-year government bond yield (1.5%) to estimate future growth. Similar to the 10-year “growth” period, we discount future cash flows to their present value, using a cost of equity of 7.7%.

Terminal value (TV)= FCF2031 × (1 + g) ÷ (r – g) = HK $ 12 billion × (1 + 1.5%) ÷ (7.7% – 1.5%) = HK $ 189 billion

Present value of terminal value (PVTV)= TV / (1 + r)ten= HK $ 189 billion ÷ (1 + 7.7%)ten= HK $ 90 billion

Total value, or net worth, is then the sum of the present value of future cash flows, which in this case is HK $ 147 billion. The last step is then to divide the equity value by the number of shares outstanding. Compared to the current share price of HK $ 22.4, the company appears to be roughly at fair value with an 11% discount to the current share price. The assumptions in any calculation have a big impact on the valuation, so it’s best to take this as a rough estimate, not precise down to the last penny.

SEHK: 1972 Discounted cash flow July 12, 2021

The hypotheses

We draw your attention to the fact that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don’t agree with these results, try the calculation yourself and play with the assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a complete picture of a company’s potential performance. Since we view Swire Properties as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes into account debt. In this calculation, we used 7.7%, which is based on a leveraged beta of 1.171. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our beta from the industry average beta from globally comparable companies, with a limit imposed between 0.8 and 2.0, which is a reasonable range for a stable business.

Next steps:

While a business valuation is important, ideally it won’t be the only analysis you review for a business. It is not possible to achieve a rock-solid valuation with a DCF model. Preferably, you would apply different cases and assumptions and see their impact on the valuation of the business. If a business grows at a different rate, or if its cost of equity or risk-free rate changes sharply, output can be very different. For Swire properties, there are three essential aspects that you should consider further:

  1. Risks: Take risks, for example – Swire Properties has 3 warning signs we think you should be aware.
  2. Future benefits: How does the 1972 growth rate compare with that of its peers and the broader market? Dig deeper into the analyst consensus count for years to come by interacting with our free analyst growth expectations chart.
  3. Other strong companies: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid trading fundamentals to see if there are other companies you might not have considered!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for each SEHK share. If you want to find the calculation for other actions, just search here.

When trading stocks or any other investment, use the platform seen by many as the professionals’ gateway to the global market, Interactive brokers. You get the cheapest * trading on stocks, options, futures, forex, bonds and funds from around the world from a single integrated account.

This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.
*Interactive Brokers Ranked Least Expensive Broker By StockBrokers.com Online Annual Review 2020

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


Peru: Central Bank maintains benchmark interest rate at 0.25% | News | ANDEAN



The Board of Directors of the Central Reserve Bank of Peru (BCR) has decided to continue its expansionary policy, by maintaining the reference rate at 0.25% and by implementing liquidity injection operations, at the same time. in light of the following developments:

Year-on-year inflation fell from 2.45% in May to 3.25% in June, temporarily sitting above the target range due to pressure from the supply side.

Core inflation remains around the center of the target range.

“Core inflation year-on-year was 1.9% in June,” he said.

According to the Central Reserve Bank, inflation is expected to return to the target range over the next twelve months and remain within this range in 2022, due to the reversal of the effects of transitory factors on the inflation rate (rate of exchange, fuel and grain prices on international markets) and that economic activity will remain below its potential level.

The bank said expected one-year inflation fell from 2.43% in May to 2.60% in June, so the real benchmark rate has continued to fall.

In addition, most leading indicators and expectations for the economy deteriorated in June.

“The global economic recovery is expected to be more pronounced in the coming quarters as the vaccination process continues around the world and major stimulus packages are implemented in developed countries,” he said. .

In addition, the Council considers it appropriate to maintain an expansionary stance as long as the negative effects of the pandemic on inflation and its determinants persist, and is particularly attentive to new information referring to inflation expectations and the development of the economy. ‘economic activity.

“The BCR will continue to take the necessary measures to support the payment system and credit flows,” he added.

Financial markets were highly volatile amid electoral uncertainty and RBC actions aimed to mitigate this volatility.

As of July 7, BCR injection operations totaled S / 62.758 million (approximately $ 15.8 billion), of which S / 47.654 million (approximately $ 12 billion) was associated with government guaranteed pensions.


Posted: 7/11/2021


How withdrawals from your NPS Tier II account are taxed



The National Pension System (NPS) has two types of accounts: Tier I and Tier II. The level I account is the main account and is mandatory while opening a level II account is optional. The Level II account is like a savings bank account where you can deposit and withdraw money as and when you want. You can transfer money at any time from a level II account to a level I account and not the other way around. All subscribers are entitled to tax benefits for contributions made to the Level I account, but the tax benefits for contributions to the Level II account are only available to central government employees with a three-year lock-in period. Since there are no specific provisions for the taxation of withdrawals from a Level II account under the law, I thought I will try to explain how these withdrawals should be taxed logically?

Are withdrawals from the Tier II account taxable?

In accordance with Article 10 (12A) of the Income Tax Law, 60% of the amount withdrawn at the closing or at the time of deregistration of the account referred to in Article 80 CCD is tax-free between hands of the underwriter. Likewise, during partial withdrawals, 25% of the subscriber’s contribution from the account referred to in article 80 CCD is tax-free in accordance with article 10 (12B). Implicit CCD article 80 refers only to the level I account because the deduction under this article is only available for contributions to the level I account and not for contributions made to the level II account for which the deduction is available under Section 80C (2) (xxv).

There is no specific and direct provision for the taxation of withdrawals from a Level II account under the Income Tax Act. If the tax legislation does not contain specific provisions for the taxation of an item, it does not become by default exempt from tax or taxable. In such a situation, you have to apply logic and rely on other provisions of the same law. The full value of the money withdrawn from the Level II account cannot be taxed, as lawmakers would not have considered imposing something at the time of withdrawal if no tax benefit had ever been claimed when the money has been dropped. But that doesn’t mean that the entire amount withdrawn would be tax-exempt. Withdrawals from the Tier II account are like regular withdrawals from your savings bank account, which are not taxed except to the extent of interest earned.

To arrive at the logical rules for taxing level II account withdrawals, I rely on the provisions of section 80CCC. Section 80CCC (1) provides for the deduction of the premium paid to purchase an annuity. Article 80 CCC (2) provides for the taxation of the cash surrender value of such a policy, which limits the tax liability to the extent that the tax benefits under Article 80 CCC (1 ) have been claimed by the individual and not beyond, except the increase in investment. The same logic must be applied here.

How withdrawals should logically be taxed

For the reasons explained above, I am convinced that not all money withdrawn from the Level II account can be taxed by any stretch of the imagination. What can and should logically be imposed is the appreciation, if any, of the value of investments as included in withdrawals.

Since the investment made in the Tier II account does not have any fixed rate of return like fixed deposits or bonds or bonds, the appreciation in value of investments cannot be taxed under the heading “Income from other sources “. As a subscriber, units are allocated. for its investments in different categories of funds such as equities, corporate bonds and government securities at their net asset value (NAV) at the time of investment, it makes sense to treat the contribution to the account of level II as investments and treat the profits thereon as earning capital.

Since investment in NPS cannot be called publicly traded stocks or be treated as shares of equity mutual funds, it will only become long term if the shares are sold after 36 months. Since the Securities Transaction Tax (STT) is not paid at the time of redemption, it cannot be taxed like stock-based regimes under Section 112A, even with respect to the component in actions. It is taxed at a flat rate of 20% after indexation if it has been held for more than 36 months. If the units are redeemed within 36 months, the redemption profits should be treated as short-term capital gains and included in your regular income which will be taxed at the slab rate applicable to your total income.

The difference between the purchase and redemption NAV should be multiplied by the number of units used for redemption to get the profit made on redeeming a specific transaction.

Please note that all I have mentioned is not the exact legal position in the absence of a specific and direct provision in the Income Tax Act, but is purely my opinion obtained with the help of the voucher sense and logic. Given the confusion surrounding the tax on withdrawals for the Level II account, it is the government’s duty to clarify the legal situation as soon as possible. This will help many people to make the decision to take advantage of the low cost investment avenue of the Level II account.

Balwant Jain is a tax and investment expert and can be contacted at [email protected]

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Company Owner Harwood to teach hands-on HVAC training at Gonzales VC Center


Dean Seitz was a CVC instructor at the Gonzales Center at Victoria College for seven years.

VICTORIA, Texas – Dean Seitz, HVAC instructor at Victoria College’s Gonzales Center, struggles to explain why the demand for skilled technicians in the HVAC industry is higher than ever.

“I guess a lot of young people are interested in entering the computer industry,” Seitz said. “But all of those computers they use have to be in an air-conditioned room.”

Seitz, who prefers a hands-on approach to teaching his students, was an instructor at the Gonzales Center at Victoria College for seven years and owned his own HVAC business, Harwood Heating & Air, for 23 years.

“My Level 4 class built a functional unit from parts from five inoperative units,” Seitz said. “I’m going to follow the book, but then I’ll teach them some practical tips they’ll need when they go out into the field. “

Some of Seitz’s students are already starting his class with HVAC jobs. Upon successfully completing one of the levels of Victoria College’s HVAC courses, students receive a certificate from the National Center for Construction Education & Research (NCCER), which is an industry-recognized degree.

“The NCCER certificate carries weight with employers because it shows someone is committed to learning all about the profession,” Seitz said. “If I hire someone with an NCCER certificate, I don’t have to start from scratch with them. “

This fall semester, Victoria College will be offering its Level 1 HVAC course at the Victoria and Gonzales locations. The course in Victoria will be held Tuesdays and Thursdays from 6 p.m. to 9 p.m., September 28 to February 3. The course at Gonzales will take place on Tuesdays and Thursdays from 6 p.m. to 9 p.m., September 21 to January. 27.

The Level 1 HVAC course costs $ 800, and scholarships and financial aid are available for students in need of financial aid. A high school diploma or GED is not required to participate in the course.

Before students can enroll in the Level 1 HVAC course, they must complete the Core Course: Introductory Craft Skills Course, which will be offered throughout the summer in Gonzales and Victoria.

For more information on VC Industrial Trades courses, call (830) 672-6251 or email [email protected]


Is there an opportunity with the 40% undervaluation of Oak Street Health, Inc. (NYSE: OSH)?



Today we’re going to review one way to estimate the intrinsic value of Oak Street Health, Inc. (NYSE: OSH) by taking expected future cash flows and discounting them to today’s value. . One way to do this is to use the Discounted Cash Flow (DCF) model. Believe it or not, it’s not too hard to follow, as you will see in our example!

Remember, however, that there are many ways to estimate the value of a business, and a DCF is just one method. If you still have burning questions about this type of valuation, take a look at the Simply Wall St analysis model.

Check out our latest review for Oak Street Health

Is the health of Oak Street valued enough?

We use the 2-step growth model, which simply means that we take into account two stages of business growth. In the initial period, the business can have a higher growth rate, and the second stage is usually assumed to have a stable growth rate. To begin with, we need to get cash flow estimates for the next ten years. Where possible, we use analyst estimates, but when these are not available, we extrapolate the previous free cash flow (FCF) from the last estimate or stated value. We assume that companies with decreasing free cash flow will slow their rate of contraction, and companies with increasing free cash flow will see their growth rate slow during this period. We do this to reflect the fact that growth tends to slow down more in the early years than in subsequent years.

In general, we assume that a dollar today is worth more than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at an estimate of the present value:

10-year Free Cash Flow (FCF) estimate

2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Leverage FCF ($, Millions) -154.3 million US dollars -32.9 million US dollars US $ 136.9 million US $ 334.1 million US $ 516.4 million US $ 716.8 million US $ 915.8 million US $ 1.10 billion US $ 1.26 billion US $ 1.40 billion
Source of estimated growth rate Analyst x5 Analyst x4 Analyst x2 Analyst x2 East @ 54.57% East @ 38.8% Est @ 27.76% Est @ 20.03% Est @ 14.62% Est @ 10.83%
Present value (in millions of dollars) discounted at 6.0% – $ 146 – $ 29.3 115 USD US $ 265 $ 387 507 USD US $ 611 US $ 692 US $ 748 US $ 783

(“East” = FCF growth rate estimated by Simply Wall St)
10-year present value of cash flows (PVCF) = US $ 3.9 billion

It is now a matter of calculating the Terminal Value, which takes into account all future cash flows after this ten-year period. For a number of reasons, a very conservative growth rate is used that cannot exceed that of a country’s GDP growth. In this case, we used the 5-year average of the 10-year government bond yield (2.0%) to estimate future growth. Similar to the 10-year “growth” period, we discount future cash flows to their present value, using a cost of equity of 6.0%.

Terminal value (TV)= FCF2031 × (1 + g) ÷ (r – g) = US $ 1.4 billion × (1 + 2.0%) ÷ (6.0% – 2.0%) = US $ 36 billion

Present value of terminal value (PVTV)= TV / (1 + r)ten= US $ 36 billion ÷ (1 + 6.0%)ten= US $ 20 billion

Total value, or net worth, is then the sum of the present value of future cash flows, which in this case is $ 24 billion. In the last step, we divide the equity value by the number of shares outstanding. From the current share price of US $ 59.6, the company looks fairly good value with a 40% discount from the current share price. Remember, however, that this is only a rough estimate, and like any complex formula – trash in, trash out.

NYSE: OSH Discounted Cash Flow July 10, 2021

Important assumptions

Now the most important inputs to a discounted cash flow are the discount rate and, of course, the actual cash flow. Part of investing is coming up with your own assessment of a company’s future performance, so try the math yourself and check your own assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a full picture of a company’s potential performance. Since we view Oak Street Health as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes into account debt. . In this calculation, we used 6.0%, which is based on a leveraged beta of 0.840. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our average beta from the industry beta of comparable companies globally, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable company.

Looking forward:

While a business valuation is important, ideally it won’t be the only analysis you review for a business. DCF models are not the alpha and omega of investment valuation. Preferably, you would apply different cases and assumptions and see their impact on the valuation of the business. If a business grows at a different rate, or if its cost of equity or risk-free rate changes sharply, output can be very different. What is the reason why the stock price is lower than intrinsic value? For Oak Street Health, we’ve put together three other things you should explore:

  1. Risks: Consider, for example, the ever-present specter of investment risk. We have identified 2 warning signs with Oak Street Health, and understanding them should be part of your investment process.
  2. Management: Have insiders increased their stocks to take advantage of market sentiment about OSH’s future prospects? Check out our management and board analysis with information on CEO compensation and governance factors.
  3. Other high quality alternatives: Do you like a good all-rounder? Explore our interactive list of high-quality stocks to get a feel for what you might be missing!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for every NYSE share. If you want to find the calculation for other actions, just search here.

If you decide to trade Oak Street Health, use the cheapest platform * which is ranked # 1 overall by Barron’s, Interactive brokers. Trade stocks, options, futures, currencies, bonds and funds in 135 markets, all from one integrated account.

This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.
*Interactive Brokers Ranked Least Expensive Broker By StockBrokers.com Online Annual Review 2020

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


Black and brown students pay for this tax giveaway. Texas shouldn’t be expanding it.



The Houston Chronicle’s “Unfair Burden” series showed how Texas businesses reduced their tax bills by more than $ 1 billion a year with just one business grant program.

Chapter 313, known for its place in the state’s tax code, costs more than $ 200,000 per job, primarily benefiting the oil and gas industry.

But there’s more to the story: This onerous cost falls hardest on school districts with large black and Latino student populations. Due to the racial nature of poverty in Texas, grants that go to large corporations weigh most heavily on students of color.

The Texas legislature was wise when it recently decided to end Chapter 313 by 2022. But bad ideas die hard: A proposal to extend the giveaway until 2024 has just been released as Senate Bill 26.

Section 313 gives businesses a 10-year tax break on new or expanding operations. School districts approve the agreements because the public treasury sometimes makes up the difference, using money from the general fund. That is, Texas taxpayers pay $ 1 billion a year to cover corporate property taxes, mostly for large corporations. But even when local district budgets are fully funded from the general fund, the rest of the state loses out because there is less revenue to pay for services that benefit all employers and workers.

We recently published a national study on this issue, and Texas stands out negatively. We found that even with the state compensation, Texas school districts lost $ 290 million in fiscal 2019 under the Chapter 313 program, a 54% increase from just two years earlier. That figure puts Texas ahead (along with large states like South Carolina, New York, Louisiana, and Pennsylvania) in the amount of school tax revenue lost due to tax breaks for businesses.

These are only aggregate state figures, however. On a per student basis, Texas had the highest shortfall of any state.

Some Texas school districts are losing huge sums of money. Eighteen have cut more than $ 6,000 per student per year. Another 34 districts lost between $ 1,000 and $ 6,000 per student, according to self-reported district data included in their annual expense reports. This is money that could go to special education personnel, add pre- and after-school enrichment, expand pre-kindergarten, or equip rural schools with much-needed high-speed internet.

After taking into account the size of the district, the data reveals that districts with higher proportions of black and Hispanic students tend to cut more taxes overall: a one percentage point increase in Black and Hispanic student body is linked to an additional $ 17,170 in reduced taxes.

The Gregory-Portland Independent School District, where 60 percent of students are black or Hispanic, lost $ 29 million in lost revenue, even after factoring in state and business compensation payments – the second highest of State.

According to the Texas State Comptroller, that same year Corpus Christi Liquefaction, LLC saw its property tax obligations reduced from $ 68.3 million to $ 9.1 million in that school district alone.

La Porte, Ingleside, Brazos, Webb Consolidated, and Floydada school districts also have a majority of black and Hispanic students and extremely high total and per student tax allowances. All five, plus Gregory-Portland ISD, are underfunded, according to data from Rutgers University.

In fact, 84 percent of Texas school districts remain underfunded, with an average gap between required and actual funding of $ 4,000 to $ 5,000 per student.

Chapter 313 has always been a losing proposition for Texas. It is inequitable by design, unfairly benefits the oil and gas industry, and diverts money from vital utilities. Instead of any expansion, Texas should reinvest that billion dollars a year to help small businesses, improve infrastructure, and invest in education and training for the jobs of tomorrow. No longer forcing Texas children to increase corporate profits, the state can strengthen its future workforce.

Wen is Tax Policy Coordinator and Martínez is Director of Communications for Good Jobs First, a nonprofit resource center that promotes fair economic development and corporate responsibility.


Bucks County planners to investigate business owners as many face hiring issues


Businesses of all kinds and sizes need workers in Bucks County. – there is no doubt about it. But county officials want to know why and what resources and services can help fill jobs and boost the economy.

A survey now available will help provide answers, officials said. It will also help shape the future of the county, as it is part of a larger project.

Officials urge business owners to complete a survey that the Bucks County Planning Commission prepared for its Complete plan “Bucks 2040: Building our future, together”.

Central Bucks Chamber of Commerce President and CEO Vail Garvin said the employee shortage was wreaking havoc. “Every lunch, breakfast and dinner I have with Bucks County CEOs – everyone struggles to hire employees to perform at peak performance – bar none,” she said.

But, Garvin is uncertain whether the worker shortages are the result of the pandemic or if other factors are also involved. There are many theories out there, but she believes the county’s investigation can provide answers and hopefully lead to solutions.

the Survey Monkey Questionnaire is available on the county website, Facebook page and other social media sites as well as through local chambers of commerce. The survey and the comprehensive comprehensive plan are designed to help county planners establish long-term strategies for the county’s future economic development while preserving its historical and agricultural heritage.

“The more the merrier,” said Richard Brahler, the county’s director of transportation planning, when asked how many companies the county hopes to respond to the survey. There is no immediate deadline for companies to respond, but he hopes they will do so as soon as possible.

“We need to know what the business issues and challenges are,” Brahler said.

The Bucks County Planning Commission is conducting surveys with businesses and residents on their wishes for the future development of Bucks County as it prepares its next comprehensive plan.

The employee shortage is a major issue right now, said Kevin Putman, president and CEO of Penn Color, a global company based in Doylestown and Hatfield Township.

Earlier this year, the company, which manufactures color additives for plastics and other materials used in the manufacture of packaging, home coverings, wall coverings and other colored products, wanted to hire 50 new employees. premises, mainly for its operations department.

“Today’s environment has made it incredibly difficult to fulfill these roles,” he said.

He said in the first half of the year he was only able to fill about 65% of the machine operator positions. He said the pandemic and ongoing unemployment benefits have kept workers at home.

“In the regions (of the country) where the recovery has been the most generous, we have struggled the most,” he said. “I talk to a lot of executives and (business) owners. They all see the same thing.”

Questions about workers returning to their jobs following a pandemic business downturn are among those being investigated.

The survey also asks a variety of general questions about the number of employees and the importance of services such as public transport and roads for a company, as well as the general situation of the company since the start of the company. COVID pandemic.

It also asks more specific questions about the importance of schools and tourism in attracting employees and whether the company expects more employees to want to continue working from home, if they have done so for the pandemic.

The planning commission notes that the update of the plan is intended “to provide new guidance to the boroughs and townships of the county on the best ways to use and develop land, improve infrastructure and stimulate economic opportunities. “.

Among its main objectives, as announced on the new county website, are at :

  • Make good land use decisions for better development results
  • Making Homeownership More Accessible to Bucks County Families
  • Improve roads and give residents more options to get to where they need to go
  • Keep our air clean and help fight climate change
  • Offer residents more economic and educational opportunities
  • Ensuring the safety and health of communities
  • Preserve the county’s natural, historical, cultural and agricultural heritage

The Global Plan was last updated in 2011. The new Global Plan is expected to be completed by September 2022, but survey responses could be used sooner to help guide resources and services.

The business survey will be used in conjunction with questionnaires randomly sent to households across the county as well as various meetings that planners will hold in communities to obtain direct feedback from residents as they prepare the new comprehensive plan.

“I think this is very important and the county organized the survey with a very critical eye on each question and the way it was asked,” Garvin said. “I hope the business community responds. The Central Bucks Chamber put (the survey) on the website when we received it.”

The planning commission is also sponsoring a photo competition as part of the project and wants amateur photographers to take pictures of their favorite locations in the county. The deadline for submission is November 1st. The winning photos will be featured throughout the plan report.

The planners also ask any county resident who would like to share their suggestions or ideas, or who would like to receive updates on the development of the plan to contact the planning committee at Bucks[email protected]

In a separate survey, the planning committee is asking residents to express their opinion on which of the 11 options would be the best route to travel a trail from Newtown to Delaware and the Lehigh Canal Trail which runs from Bristol to Easton along the Delaware River. Comments can be provided until July 23. For more information visit www.tinyurl.com/N2DStoryMap.

Part-time jobs hiring this summer



Getty Images

While unemployment remains relatively high due to the COVID-19 pandemic, there are signs that employers are increasingly eager to hire. According to the United States Bureau of Labor Statistics (BLS), more than 850,000 people were hired in June. The unemployment rate for workers aged 55 and over in June was 4.9%, the same as the month before. The overall unemployment rate for June was 5.9%, well below 11.1% last June but still far from the 3.5% rate at the start of 2020.

There is good news for seniors in this June hiring boom. Many of the areas that have seen the strongest growth in hiring are also areas that offer many opportunities for part-time work. The AARP combed through the June Jobs Report to find job growth in areas where older workers thrive in part-time positions. The following list identifies nine of these positions. Clicking on the job title will take you to the current nationwide list of job openings for that position on the AARP Job Board. Median hourly wage data is provided by the BLS, and the portion of part-time workers over 55 is provided by PayScale, a compensation tracking company.

1. Office manager

  • Share of part-time workers over 55: 30 percent
  • Average hourly wage: $ 17

As more companies start welcoming their employees to the workplace this summer, office job opportunities are starting to increase. More than 72,000 people were hired for clerical jobs in June, an increase of more than 1.2 million workers in a year.

Experienced office managers are especially in demand right now as employers and workers learn to navigate hybrid workplaces (some people working remotely while others have to be in the office).

2. Retail employee

  • Share of part-time workers over 55: 15 percent
  • Average hourly wage: $ 10

With so many people staying at home to practice social distancing for much of last year, demand for new clothes – and the workers who help sell them – has plummeted. Now that people are going out more, they are also shopping for clothes that match their post-containment physique. Clothing stores hired more than 28,000 workers in June alone.

While hourly wages aren’t as high as some of the other jobs on this list, the retail job offers very flexible hours, with opportunities to work nights and weekends. And many stores also give employees a discount on purchases, which can help those earnings grow even more.

3. Tutor

  • Share of part-time workers over 55: 15 percent
  • Average hourly wage: $ 18

Schools are already preparing for more students to return to classrooms this fall. In June, more than 269,000 people were hired in education-related jobs. This number includes the 39,000 who found employment in private education, including some tutors.

Part of the appeal of tutoring is that you can focus on the skill that best suits your expertise, whether you are good at writing or know the numbers. Tutoring can also provide opportunities to work from home.

4. Administrative assistant

  • Share of part-time workers over 55: 22 percent
  • Average hourly wage: $ 14

This is another profession that benefits from more workers returning to the office. Because there is so much uncertainty in the job market right now, many employers are turning to temporary contractors to fill the need for support staff in their offices. More than 33,000 temporary workers were hired in June.


Chase Mortgage 2021 Review



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Chase is a full-service financial institution serving nearly half of all households in the United States with some form of financial product or service such as personal banking, investment advice, credit cards, auto loans. and mortgages. As a mortgage lender, he creates mortgages in all 50 states, with mortgage advisors located in 35 states.

Borrowers have the option of starting the mortgage application process online and can choose from a variety of mortgage types through Chase. In addition to conventional loans, the bank also offers jumbo loans for those looking for higher loan amounts. FHA and VA government loans are also available, as is the bank’s low-down “DreaMaker” mortgage.

Chase does not provide details of all of the eligibility requirements for their loan programs, and we had difficulty reaching one of their mortgage advisors. The loan advisors we spoke to declined to answer questions about eligibility requirements and fees unless we submitted a loan application.

Advantages and disadvantages of the lawsuit


  • Create mortgages in all 50 states

  • Variety of loan programs, including low down payment options

  • Interest rates are available online

  • Discounts available for private customers

The inconvenients

  • Estimated loan fees not available online

  • Refinances can take more than 60 days

  • Mortgage Loan Advisors located in just 35 states

  • Difficult to get answers without submitting a loan application

Chase Mortgage: Types of Loans and Products

Chase offers different types of mortgages, each with their own set of benefits. Customers can speak to a mortgage advisor for more information on which one is best for their situation. The website also summarizes what type of loan may be the best choice based on the client’s financial profile, such as their credit, income, and down payment preferences. Here is a list of mortgages customers can choose from:

Customers with good credit, qualified income, and a down payment of at least 5% may be suitable for a conventional loan. Those looking for a larger loan amount can choose the lender’s jumbo loans, which require a 20% down payment to purchase a home.

The lender’s “DreaMaker” loan program has strict income limits, but allows as low as 3% down payment for qualified borrowers. Homebuyers may also be eligible for an additional $ 500 by completing a Homebuyer Training Course, while refinanced clients could be forfeited a $ 500 good faith cash deposit. Buying or selling a home with an agent participating in the Chase Agent Express program comes with a $ 1,000 incentive.

Homebuyers who are worried about not closing on time may want to consider taking advantage of the Chase Close Guarantee. Chase guarantees a close on time or you will get $ 2,500 if you meet all of his requirements for the program.

Chase also works with housing assistance programs, although availability and eligibility requirements vary by location. A Chase Homebuyer Grant of $ 2,500 is available for qualified borrowers. The grant is available for FHA, VA, Conventional and DreaMaker loans. Refinancing clients, however, must apply through the DreaMaker program to be considered for the grant.

Chase Mortgage Transparency

Chase has a library of articles and videos on their website that clients can use to learn more about the mortgage process, what documents they should be prepared to provide, and general information about their program requirements. loan. You can view the interest rates online and the bank provides calculators to estimate their monthly payments.

However, customers looking for a credit charge estimate will most likely have to submit a request and wait for a response from a mortgage advisor. Contact information for the Loan Advisor is available on the Chase website, but we could not find a representative who would answer questions about fees without submitting an application.

Chase Mortgage: Rates and Fees

Chase offers an online mortgage calculator showing current interest rates. Interest rates can change daily, and customers can tailor the calculator to their specific scenarios, such as the purpose of the loan, type of property, location, loan amount, and credit rating.

Fee estimates and information on minimum credit score requirements are not provided online. Based on our experience, customers should apply online and accept a firm credit application for a loan estimate. This process allows the lender to consider factors affecting the cost of your loan, such as the type of loan, location, credit rating, and other characteristics of the loan. However, difficult credit can lower your credit score by a few points, so you may want to take a slight walk before you apply to a lender.

While specific fee estimates are not available online, Chase’s website lists a description of the fees that could potentially apply to their conventional, FHA, and VA loans. These costs include:

  • Registration fees
  • Assessment fees
  • Support costs
  • Lawyer fees
  • Brokerage fees
  • Credit file fees
  • Discount points
  • Flood certification
  • Original fees
  • Rate Lock Fee
  • Registration fees
  • Investigation costs
  • Title insurance
  • Title search fees
  • Subscription fees
  • Financing costs (VA loans)

Refinancing with Chase

The Chase website provides a general overview of the loan process. Customers looking to refinance with Chase can begin the application process online. Once complete, a home loan advisor will contact you to discuss interest rates, loan programs, fees, and answer all of your questions. Customers are then invited to inform their credit counselor if they wish to proceed with the request.

Chase Private Client clients who have large balances with the bank may benefit from preferential mortgage pricing. This pricing can include fee waivers of up to $ 1,150 and mortgage rate discounts of up to 0.50%. Chase has dedicated credit counselors, processors, and underwriters who focus on private clients.

Chase versus other mortgage lenders

chase away Bank of America New American funding
Minimum credit score Not provided Conventional: 620Jumbo: 720FHA: 620VA: 620 580
Minimum deposit Conventional: 5%
Huge: 20%
FHA: 3.5%
AV: 0%
Conventional: 5%
Huge: 20%
FHA: 3.5%
AV: 0%
0% to 5% (varies by loan program)
Where does the lender operate? The 50 states The 50 states All states except New York and Hawaii
Main types of loans Purchase, refinancing, cash-out refinancing, conventional, FHA, VA, jumbo, fixed rate, adjustable rate Purchase, Refinance, Cash Refinance, Conventional Loans, Jumbo, Home Equity, Fixed Rate, Variable Rate, FHA and VA Conventional, Jumbo, VA, FHA, USDA, Home Improvement Loans, Variable Rate, Fixed Rate, Refinance, Refinance With Withdrawal, Reverse Mortgages, Home Equity

How To Shop For The Best Mortgage Rate

When you compare the rates between different lenders, you will also want to compare the fees with those rates. Some lenders offer the option of paying points in exchange for a lower interest rate. Likewise, higher interest rates may be an option in exchange for credits to cover some closing costs. Since interest rates can change daily, it is best to compare rates between lenders obtained on the same day.

Interest rates and fees can also depend on the specific characteristics of your loan, such as the location of your property, type of property, credit rating, loan program, and down payment amount. Customers with loan estimates from different lenders should ensure that they are based on the same loan scenario.

Final result

Chase offers a variety of loan and loan programs in all 50 states, but only has mortgage advisors in 35 states. Therefore, clients who prefer an in-person experience may want to consider a lender with branches near them. It is important to caution mortgage buyers unfamiliar with the process about loan counselors who may attempt to perform credit checks and applications before providing fee information.

If you’re determined to move forward with Chase, it may be worth having a few other offers ready to compare. Check out NextAdvisor’s mortgage lender review library for more information on lenders with transparent fees and requirements.

Chase offers money-saving programs through the Chase Agent Express program, grants for home buyers, and preferential rates for private customers. As the amount of savings can be substantial, it can be a good lender for clients who are not pressed for time and expect to have few questions about the process.


Car parks as “mobility hubs”?



AUSTIN, Texas – The parking lot industry has been hit hard during the pandemic, with office workers largely staying at home. Looking to the future, some entrepreneurs want to transform car parks into “mobility centers” with charging stations for electric vehicles and applications to reserve spaces, reports the New York Times.

At FlashParking in Austin, TX, owners see the future of parking as digital. The company, which provides hardware and software for garages, wants to help frequently idling vehicles (think ride-sharing drivers and delivery trucks) find a resting place with access to food and toilets. .

“You just have to run and deliver two packages?” Neil Golson, Flash Marketing Manager, said. “I have a seat for 15 minutes, and here is a special price. This is the evolution that we are allowing: getting people off the streets and bringing them into the field.

Of course, convenience stores and gas stations have long performed this function, without charging customers for parking when they enter the store. It’s a place to stop to refuel, recharge, cool off and take an organic break. As the energy sources that power the vehicle fleet evolve, convenience retailers are sustaining their operations to provide electric vehicle charging and other amenities demanded by drivers. Convenience stores are more than mobility centers, they are community centers.

Flash CEO Dan Sharplin describes parking as “an accidental experience. You are driving around town to do something and then you are looking for parking. But our point of view is that there will be very few accidental drivers in the future. And that these parking assets [garages] can be converted into a dynamic hub of a large network and digitally connected through consumer applications. It only works if you reach the consumer where they live today: on their phone. “

Other garages have installed hands-free door systems and mobile payments “to create a contactless experience,” Jeff Eckerling, director of growth for SP Plus, a garage management company, told The Times. “Our whole industry has been hit hard [because of the pandemic], from hotels to airports to event venues.

Some see a parking lot in Hoboken, NJ, as the future. High-tech cameras capture the license plates at the two entrances of the identification cars linked to a prepaid online account. A lower floor housed Avis rental vehicles. A large open space on the ground floor holds a few dozen stationary bikes as part of a Soul Cycle franchise pop-up. EV charging stations will soon arrive in the 1,440-space garage.

With the growing demand for electric vehicle charging infrastructure, the Electric Vehicle Council of the Fuels Institute recently released its “EV Consumer Behavior” report, detailing the current and future behavior of electric vehicle drivers and how retailers of electric vehicles. nearby and others can use electric vehicle charging to bring customers to their doorstep. .


Zero mortgages are back a decade after mortgage collapse – Orange County Register



The highest home prices are upon us. Like the 17th-century tulip mania, everyone must take the path to homeownership.

Now even first-time buyers without a deposit can take part in the action. This means that there is no skin in the game, just like the good old days Great Mortgage Meltdown.

No down payment loans are available up to $ 1.25 million as long as the primary employee has at least an average FICO credit score of 700.

If you don’t show enough income from your daily work or self-employment to qualify, you can document your income with bank statements, averaging the last 24 months of deposits on personal bank statements.

The prices are disagreeable on this so-called 80/20 piggyback mortgage. But beggars cannot choose.

There is a minimum “floor rate” of 4.5% on the 30-year mortgage. It is subject to a first tariff adjustment after the first 5 years. The second mortgage has a floor of 9.99%, fully amortizing over 15 years.

Here’s an example: Suppose you buy a house for $ 1.25 million. The first mortgage rate of $ 1 million is 4.5%, with an initial principal and interest payment of $ 5,067.

You then take out a 15-year fixed rate loan for the remaining $ 250,000 at 9.99% with a down payment of $ 2,685.

Suppose the monthly property taxes would be $ 1,302 and your monthly fire insurance payment would be $ 200 per month. Then your total home payment would be $ 7,952, excluding any potential HOA fees.

The only significant differences between this current crop of exotic zero-down mortgages and the so-called no-down sub-prime category of yesteryear are today’s mortgages which prohibit lump-sum payments and prepayment penalties, thanks to the Dodd-Frank Act of 2010.

And the current minimum average FICO score of 700 is higher than it used to be.

But remember, the race to the bottom before the Great Recession. It was always about competing mortgage lenders undermining the underwriting standards of other guys or girls. Take this to the seizure prevention department.

How about a little more memory lane craziness?

Can you fog a mirror? Of course you can. Mirror Mortgages are available now with only 20% down payment on a purchase and 25% equity on refinance for loan amounts of $ 3 million.

No income or jobs listed whatsoever? No tax declaration? No payslips? No 12- or 24-month average bank deposits to calculate income? You will only need the first page of your bank account statement to get your deposit funds, provided that you do not receive 100% of the donation funds.

Don’t worry if the lender sees these bad checks or other financial hardship on page two of your bank statement. Rates start at 4%.

What about investor instruments? Believe it or not, fog type mortgages start even lower for investment property loans than for principal residence mortgages. How do you like 3.75% on a 30 year mortgage that adjusts after the first five years?

You need a minimum of 15% down. The loan amount is $ 1.5 million. You will have a three-year prepayment penalty (the prepayment penalty is 80% of six months of interest).

If you’re considering one of these mortgages because you can’t qualify for a traditionally cheaper Fannie or Freddie mortgage, let’s start by being realistic.

Think about it. House prices are peaking. Unless you’re triply confident that you can handle the higher real estate payments, have a family lifeline to rely on, have lots and lots of cash stacks, and have the courage to overcome the possible decline in the value of the property, then do not. Don’t stretch out too much.

Freddie Mac Rate News: The 30-year fixed rate averaged 2.9%, 8 basis points lower than last week. The 15-year fixed rate averaged 2.2%, 6 basis points lower than last week.

The Mortgage Bankers Association reported a 1.8% drop in mortgage application volume from the previous week.

At the end of the line : Assuming a borrower gets the 30-year average fixed rate on a compliant loan of $ 548,250, last year’s payment was $ 38 more than this week’s payment of $ 2,306.

What I see: Locally, well-qualified borrowers can obtain the following fixed rate mortgages with a cost of 1 point: a 30-year FHA at 2.25%, a 15-year conventional at 1.875%, a 30-year conventional at 2, 5%, a 15-year conventional high-balance contract ($ 548,251 to $ 822,375) at 1.99%, a 30-year conventional high-balance at 2.625% and a 30-year fixed jumbo at 2.75% .

Eye-catcher loan of the week: A 30-year jumbo mortgage loan adjusting after 10 years from 2.25% with 2 points.

Jeff Lazerson is a mortgage broker. He can be reached at 949-334-2424 or [email protected] Its website is www.mortgagegrader.com.


Beware, too much tax deferral can backfire for small business owners


According to conventional wisdom, deferring federal income bills is “always a good idea.” But conventional wisdom is not always right.

Certainly, tax deferral will be beneficial if you find yourself in the same tax bracket or in lower brackets in the years to come. In this case, taking steps to reduce the taxable income for the current year will at least delay tax day and give you more money to work on until the bill comes due. If tax rates turn out to be lower in the years to come, so much the better. Carrying forward taxable income into those years will result in taxing deferred amounts at lower rates. Creepy! But is it reasonable to believe that lower tax rates are in the cards? Probably not. Let’s discuss.

Tax Deferral Opportunities for Small Business Owners

If you are a small business owner who operates a sole proprietorship, a partnership, an LLC treated as a sole proprietorship or partnership for tax purposes, or an S corporation, you have several options to defer taxable income. . Usually, you do this by taking action towards the end of the year to reduce your business’s taxable income, which will be taxed on your personal Form 1040.

For example, if your small business uses the cash method of accounting for tax purposes (most do), you can prepay the deductible expenses towards the end of the year and send the invoices late enough so that they aren’t. paid only the following year.

You may also be able to claim large depreciation reductions in the first year for asset additions, including vehicles, equipment, computer hardware, software, and even some real estate expenses.

Taking advantage of these opportunities will lower your taxable income for the year at the cost of increasing taxable income for the following year or years.

Even if 2020 is in your rearview mirror, you can still defer taxable income for that year if you haven’t yet submitted your return because you extended the filing deadline. For example, on your 2020 return that has not yet been filed, you can choose to take advantage of significant first year depreciation for assets that were put into service last year. Or not.

As for 2021, the rest of the year is still tax deferral action, and you will have until 2022 to make decisions that may carry income forward on your 2021 return. Or not.

So the question of the day is: should you take full advantage of all the federal income tax deferral opportunities that you may still have for an extended 2020 return and which you certainly still have for your 2021 return? Answer: maybe not. Please keep reading for the reasons.

Future personal income tax rates may be higher

Assuming there is no retroactive tax legislation, we know the federal income tax rates and brackets for 2021. If the current favorable regime of the Tax Cuts and Jobs Act (TCJA) is kept in place for 2022 (possible), the start and end points of the tax brackets for next year will likely be close to those for this year, with presumably modest adjustments for inflation. If so, the individual federal rates for 2021 and 2022 could be the lowest you’ll see for the rest of your life. Here are the individual rates and brackets for 2021. Again, these do not assume any retroactive changes that come into effect this year.




10% slice

$ 0 – $ 9,950

$ 0 – $ 19,900

$ 0 – $ 14,200

start of the 12% tranche

$ 9,951

$ 19,901

$ 14,201

start of 22%

$ 40,526

$ 81,051

$ 54,201

start of 24%

$ 86,376

$ 172,751

$ 86,351

start of 32%

$ 164,926

$ 329,851

$ 164,901

start of the 35% tranche

$ 209,426

$ 418,851

$ 209,401

start of 37%

$ 523,601

$ 628,301

$ 523,601

* head of household

We do not know if the TCJA tariff regime will be able to survive until 2025, as planned, or if it will be phased out sooner due to political developments. If the rates are increased, they could be significantly increased for high income earners. Owners of profitable small businesses could be affected.

Beware of the possible negative side effects of claiming large capital cost allowances in the first year

I explained them in a previous column. See this tax guy. Take care. The considerations I have addressed are now more valid than ever.

Potential negative impact on the QBI deduction

The deduction of up to 20% of qualifying business income (QBI) of flow-through entities (sole proprietorships, partnerships, LLCs treated as sole proprietorships or partnerships for tax purposes and S corporations) is still applicable. news for 2020 and 2021. In fact, it should last until 2025 unless Congress kills it sooner. So far, so good.

But the QBI deduction cannot exceed 20% of your taxable income calculated before any QBI deduction and before any net capital gain (net long-term capital gains greater than net short-term capital losses plus qualified dividends. ).

So measures that reduce your taxable income, such as claiming a 100% bonus depreciation in the first year and making maximum deductible contributions to the pension plan, can potentially have the side effect of reducing your qualifying QBI deduction.

While most movements that defer taxable income only create temporary differences in when taxable income is recognized, the QBI deduction creates permanent tax savings. And that’s a use-or-lose proposition, as it is set to expire at the end of 2025. As noted, it may disappear sooner. So beware of tax deferral measures if they would significantly reduce your qualifying QBI deduction. It’s a balancing act. Work with your tax professional to find the right balance.

Tax-smart measures that do not involve tax deferral

Fortunately, there are some tax-smart steps you can take that don’t involve tax deferral with its potentially negative side effects. Here are three ideas.

Contribute to Roth IRA

Since qualified Roth IRA withdrawals are free of federal income tax, Roth accounts offer the ability to avoid tax altogether, as opposed to deferring tax. So, making annual contributions to a Roth IRA (if your income allows) is an attractive alternative to “too much” tax deferral for those who expect to pay higher tax rates during retirement.

Likewise, converting a traditional IRA to a Roth account effectively allows you to prepay the federal tax bill on your current IRA account balance at today’s low rates instead of paying future rates. possibly higher on the current balance and future income of the account.

Key point: If your income allows you to make an annual Roth IRA contribution for your 2021 tax year (potentially up to $ 6,000 or $ 7,000 if you’re 50 or older on 12/31/21), you have up to to 15/4/22 do the deed.

To learn more about Roth IRAs, see here.

Contribute to a Health Savings Account (CSH)

Since withdrawals from HSAs are exempt from federal income tax when used to cover qualifying medical expenses, HSAs provide the ability to avoid tax altogether, as opposed to deferring tax. . You must have eligible high-deductible health insurance coverage and no other general health coverage to be eligible for HSA contributions. Many small business owners are in this scenario.

For the 2021 tax year, you can make a deductible HSA contribution of up to $ 3,600 if you have qualifying individual coverage or up to $ 7,200 if you have qualifying family coverage. For those who will be 55 or older on 12/31/21, the maximum contribution is $ 1,000 more, or $ 2,000 more if you and your spouse are 55 or older on that date.

The write-off of HSA contributions is an above-the-line deduction. This means you can claim it even if you don’t itemize. More good news: the HSA contribution privilege is not lost just because you have a high income. Even billionaires can make deductible contributions if they have health coverage eligible for a high deductible.

The bottom line

If you haven’t yet filed your 2020 tax return, work with your tax professional to strike the right balance between deferring tax on that return and simply recognizing income without any contortion. Consider the separate possibility of higher federal tax rates in future years and the impact of the tax deferral measures on your qualifying QBI deduction for 2020. Ditto for your 2021 tax year. Current tax environment is volatile and you must be prepared to think outside the box.

Lee’s Garage Owner Learned The Trade By Being An Employee First


WEST LONG BRANCH – Paul Sgro grew up in his business, helping his father Anthony lead Lee’s garage, and learn what it’s like to be an employee before you become an owner.

“My dad made me work for him during the day and also pump gas at night, just to feel and get a feel for what I would do as a prerequisite for a full takeover of the business one day.” , said Sgro.

“I’ve been here for a long time and it’s a family business,” said Sgro. “My dad wanted to see how I would handle different challenges in these particular work environments and I was successful. I got this perspective as an employee to enjoy working for someone and I never forgot that part. This is always something we need to keep in mind in order to appreciate your people and your staff.

Lee’s Garage is a certified auto body / repair shop, so that when a driver has an accident, Lee’s workers follow a specific set of guidelines to repair the vehicle and ensure it is well done to get it. get back on the road safely.

Lee's Garage owner Paul Sgro (right) and longtime employee Mike Clark Jackson stand behind

Want to run a car wash? Shrewsbury Car Wash was born with a simple question

“We work a lot with the manufacturer to verify that the job is done right,” Sgro said. “We like to stand out that way. “

The business started in 1937 and was bought by Anthony and Angela Sgro soon after.

Become owner

While working for his father, Sgro started out with basic tasks such as sweeping floors, but moved on to work in the workshop, painting and repairing cars.

“It was great working alongside my dad and his employees because the work environment was so family-oriented and I could always turn to someone if I had issues with anything. whatever, ”Sgro said. “I was doing bodywork, painting the frames, and so on. Basically I did everything and when I was 21 (1981) my dad let me take over the business.

“I used everything I learned over the years, whether it was physical labor or interacting with employees, to take the reins and keep the business going just like my dad did. had led until then, ”said Sgro. “My father’s expert tutelage really fueled my passion for continuing the business. “

But even with his experience, taking over the business was no easy feat.

Automotive work:The owners of Pro Shine in Eatontown worked for free to show what they could do

“It all grew from there, but I’m still learning something different every day,” Sgro said. “I feel like I’ve taken the company from its humble beginnings to where it is today, but I couldn’t have done it without every member of my team. My father taught me that the learning process is constant and that you have to be ready for anything.

“It all depends on the people you surround yourself with because no one does it alone, especially when you have a business because the machine has so many parts,” Sgro said. “We are certified by many manufacturers, including Mercedes-Benz, Porche, Land Rover, Jaguar and many more. It was a great experience and we have come a long way.

Repair work in progress on vehicles at Lee Garage in West Long Branch on Wednesday, June 30, 2021.

“I wanted to do this all my life”:The Red Bank carpenter started his way to elementary school

One thing Sgro emphasizes is employee appreciation.

“My father and I are committed that no matter how successful our business is, we would show our gratitude in a big way by valuing everyone who has worked for us, regardless of their job title. . “

One employee in particular, Mike Clark, had worked for the company for 30 years, and Paul and his father decided to buy a car from Clark, but not just any one.

“It’s very personal for us because we care so much about our people,” Sgro said. “My dad and I made that commitment and after he passed away I wasn’t going to go back on our promise to get this car to Mike. Thinking back to Mike and his 30 years with the company, I remembered that he always drove a Ford Ranger pickup truck. A light bulb lit in my head and I knew that was what we would get for him for his 30th birthday. “

“I went to a Ford dealership in Shrewsbury and picked the truck myself and they only had one in stock and it was the exact model Mike had driven all those years ago except that it was new, ”Sgro said.

Lee's Garage owner Paul Sgro is shown inside the West Long Branch business on Wednesday, June 30, 2021.

Pandemic changes

Like most businesses, Lee’s Garage has been affected by COVID-19 and has had to make adjustments to stay afloat.

“It was in March or April (2020) that it all started to hit us,” Paul said. “Driving is down about 75%, which has resulted in fewer claims. We kept all of our employees on board and took care of them. We wanted to make sure they knew we were family no matter what and that we wouldn’t abandon them.

“We have carried out vehicle disinfection for local hospitals, police and first aid services,” Sgro said. “We made sure we kept that up to show them how much we care about us and how much we were there for them, whatever. We still do this to this day because we have realized that it is more important to help people who need help. “

Although Sgro and his company are already working in two different locations – one in West Long Branch and the other in Shrewsbury – he would like to expand to a third store.

“Electric cars are becoming an important thing and we are preparing to service them regularly,” Sgro said. “As auto repair processes become more and more complicated, we are expanding further to ensure that customer safety is and will continue to be paramount in this business. A lot of the more average stores don’t have the capacity to repair cars as they get more complex, but we think we are up to the challenge.

Lee garage owner Paul Sgro (left) and his father Anthony are shown with

Lee’s garage

Pitches: 853 Broadway, West Long Branch and 24 Riordan Place, Shrewsbury

Call: 732-222-3644 (West Long Branch), 732-704-3100 (Shrewsbury)

Website: www.leesgarage.com

Hours: 8 a.m. to 5 p.m. weekdays (both locations: 8:30 a.m. to noon Saturday (West Long Branch)

Felix Gutierrez a pioneer of the Mexican community of Paterson


This story is part of Loved and Lost, a statewide media collaboration that works to celebrate the lives of every New Jersey resident who has died of COVID-19. To learn more and submit a loved one’s name for profiling, visit loveandlostnj.com.

Felix Gutierrez’s efforts have led Paterson to hoist the Mexican flag every September in recent years to mark the Central American nation’s Independence Day.

The owner of the company would later be among those who convinced city officials to rename a section of Grand Street to Mexico Boulevard as a tribute to Mexican Americans living in Paterson.

“He was a proud Patersonian and proud to own a business, and also proud to be a Mexican American,” said Paterson Mayor Andre Sayegh. “There are pioneers in the Peruvian community, there are pioneers in the Dominican community, there are pioneers in the Puerto Rican community – he was that pioneer in the Mexican community.”

Gutierrez died on February 21 while in Mexico, where he had traveled to take care of his father. Gutierrez was 50 years old.

Owner of Cathedral Restaurant on Main Street, he regularly hosted groups in his restaurant for fundraising, sporting and cultural events.

Felix Gutierrez of Paterson pictured with his friend Jaime Delgado.  Gutierrez died of complications from COVID-19 on February 21, 2021.

“He’s always been so sweet, wonderful, kind, and every time we’ve asked for help with events we’ve had here in Paterson… he’s always said yes,” said Marcia Julian, director of community affairs. multicultural events in Paterson, during a tribute to Gutierrez. posted on Facebook after his death.

Gutierrez emigrated from Mexico in the 1980s, according to Felix Benitez de Paterson, who first met Gutierrez in Axutla, Puebla state, Mexico while in elementary school.

Benitez said that upon arriving in New Jersey, Gutierrez worked in a textile company for several years before becoming an entrepreneur. Besides the restaurant, Gutierrez owned money transfer businesses in Paterson and Passaic. Benitez then worked for Gutierrez, before becoming his partner in the Passaic company.

“He really loved helping people and loved uniting families and the community. He was a very good person, ” Benitez said.

Gutierrez and his wife Aracely had four children.

Sayegh said that when he was running for mayor, he promised Gutierrez that if elected he would hoist the Mexican flag on September 16.

“It had never happened before, and I think it was a source of pride for him,” Sayegh said.

Sayegh said he was also among those calling for a street name change in honor of the city’s Mexican-Americans.

“Unfortunately, he won’t be there when we unveil him,” Sayegh said, noting that they might add an additional tribute that will include Gutierrez’s name.

Gutierrez was also in constant communication with other Mexican-American entrepreneurs in the region, always ready to help them succeed in their own businesses, said Jaimie Delgado, who owns a Mexican restaurant in Bergen County and considered Gutierrez to be his. brother.

“He always told me that we have to do something to help our community, so he was always involved in every community event and not just in the Mexican community, but also with Dominicans, Peruvians and Colombians, and all those who are there. ‘would invite him, “Delgado said.” He would be there to cooperate.

t Unlimited access to the latest news on one of the hottest issues in our state and country, please subscribe or activate your digital account today.

E-mail: [email protected]

Twitter: @monsyalvarado

Marketmind: peak growth, Delta’s woes and end of reflation trade



The headquarters of the European Central Bank (ECB) is seen in Frankfurt, Germany on March 7, 2018. REUTERS / Ralph Orlowski / File Photo

A look at the day ahead from Karin Strohecker.

While things may be a bit of a blur for enthusiastic England fans this morning, the markets appear to have decided the end is nigh for reflation trading.

Stocks are feeling the pain, thanks to a drop in tech stocks, with European stock markets pointing to a decline, while US Treasuries have rallied again, pushing their yields lower for an eighth consecutive day.

This was good news for the dollar, which hit nearly three-month highs. Bond markets from Germany and Italy to China joined the fixed income rally.

Markets fear growth has peaked and that the Delta variant, fueling an increase in coronavirus cases around the world, could stifle the economic recovery.

The much-anticipated Fed minutes from last night weren’t really mentioned this morning. They showed officials last month felt that further substantial progress on the US economic recovery “was generally considered to have not yet been achieved,” but agreed they had to be ready to act.

It is a great day for the ECB, which will announce the result of a review of its 18-month strategy, redefining its inflation target and setting the role it intends to play in the fight against climate change. The bank should focus on 2% and drop the current “below but close to” preamble, probably stating that the target is symmetrical as well.

But the ECB is not alone in focusing on climate change: Japan’s central bank will likely offer long-term interest-free funds to commercial lenders who provide loans or investments for activities aimed at combating change. climate, sources said.

A fairly calm day in corporate news, with Deliveroo (ROO.L) shares rising after reporting an 88% jump in second-quarter orders to 78 million.

Key developments that should give more direction to the markets on Thursday:

– The ECB will unveil its adjusted inflation target and its role on the climate on Thursday

– UK house prices increase the most since 1988-RICS UK Housing Survey

-German exports up 0.3% in May

-Meeting of the central bank of Poland

-Meeting of the Central Bank of Malaysia

-Results Europe: OMV, Wallenstam, Persimmon, Hansen, Entra

Report by Karin Strohecker, edited by Dhara Ranasinghe

Our Standards: Thomson Reuters Trust Principles.


Calculation of the intrinsic value of Solvac SA (EBR: SOLV)



How far is Solvac SA (EBR: SOLV) from its intrinsic value? Using the most recent financial data, we’ll examine whether the stock’s price is fair by projecting its future cash flows and then discounting them to today’s value. We will use the Discounted Cash Flow (DCF) model on this occasion. Before you think you won’t be able to figure it out, read on! It’s actually a lot less complex than you might imagine.

We generally believe that the value of a business is the present value of all the cash it will generate in the future. However, a DCF is only one evaluation measure among many, and it is not without its flaws. For those who are passionate about equity analysis, the Simply Wall St analysis template here may be something that interests you.

See our latest analysis for Solvac

What is the estimated valuation?

We use what is called a two-step model, which simply means that we have two different periods of growth rate for the cash flow of the business. Usually, the first stage is higher growth, and the second stage is a lower growth stage. To begin with, we need to get cash flow estimates for the next ten years. Since no free cash flow analyst estimate is available, we have extrapolated the previous free cash flow (FCF) from the last reported value of the company. We assume that companies with decreasing free cash flow will slow their rate of contraction, and companies with increasing free cash flow will see their growth rate slow during this period. We do this to reflect the fact that growth tends to slow down more in the early years than in subsequent years.

A DCF is based on the idea that a dollar in the future is worth less than a dollar today, so we discount the value of those future cash flows to their estimated value in today’s dollars. hui:

10-year Free Cash Flow (FCF) estimate

2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Leverage FCF (€, Millions) 114.9 M € € 113.9m € 113.6m € 113.8m 114.4 M € € 115.2m € 116.3m € 117.4m 118.7 M € € 120.0m
Source of growth rate estimate Is @ -1.79% East @ -0.88% East @ -0.25% Is @ 0.2% Is @ 0.51% East @ 0.73% Is @ 0.88% East @ 0.99% East @ 1.07% Est @ 1.12%
Present value (€, Millions) discounted at 6.5% € 108 100 € € 94.0 € 88.5 € 83.5 € 79.0 € 74.8 € 70.9 € 67.3 € 63.9

(“East” = FCF growth rate estimated by Simply Wall St)
10-year present value of cash flows (PVCF) = 830 M €

After calculating the present value of future cash flows over the initial 10 year period, we need to calculate the terminal value, which takes into account all future cash flows beyond the first step. For a number of reasons, a very conservative growth rate is used that cannot exceed that of a country’s GDP growth. In this case, we used the 5-year average of the 10-year government bond yield (1.2%) to estimate future growth. Similar to the 10-year “growth” period, we discount future cash flows to their present value, using a cost of equity of 6.5%.

Terminal value (TV)= FCF2031 × (1 + g) ÷ (r – g) = € 120m × (1 + 1.2%) ÷ (6.5% – 1.2%) = € 2.3bn

Present value of terminal value (PVTV)= TV / (1 + r)ten= € 2.3bn ÷ (1 + 6.5%)ten= € 1.2bn

The total value, or equity value, is then the sum of the present value of future cash flows, which in this case is 2.1 billion euros. The last step is then to divide the equity value by the number of shares outstanding. Compared to the current market price of € 116, the company appears to be around fair value at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it’s best to take this as a rough estimate, not precise down to the last penny.

ENXTBR: Discounted SOLV Cash Flows July 8, 2021

The hypotheses

We would like to stress that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. Part of investing is coming up with your own assessment of a company’s future performance, so try the math yourself and check your own assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a full picture of a company’s potential performance. Since we view Solvac as a potential shareholder, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes debt into account. In this calculation, we used 6.5%, which is based on a leveraged beta of 0.991. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our beta from the industry average beta from globally comparable companies, with a limit imposed between 0.8 and 2.0, which is a reasonable range for a stable business.

Looking forward:

While important, calculating DCF shouldn’t be the only metric you look at when looking for a business. It is not possible to achieve a rock-solid valuation with a DCF model. Instead, the best use of a DCF model is to test certain assumptions and theories to see if they would lead to undervaluation or overvaluation of the company. For example, changes in the company’s cost of equity or the risk-free rate can have a significant impact on valuation. For Solvac, there are three relevant elements that you should research further:

  1. Risks: You should be aware of the 3 warning signs for Solvac (2 are potentially serious!) We found out before considering an investment in the business.
  2. Other high quality alternatives: Do you like a good all-rounder? Explore our interactive list of high-quality stocks to get a feel for what else you might be missing!
  3. Other environmentally friendly companies: Are you concerned about the environment and think that consumers will buy more and more environmentally friendly products? Browse our interactive list of companies thinking about a greener future to discover stocks you may not have thought of!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for each ENXTBR share. If you want to find the calculation for other actions, do a search here.

If you are looking to trade Solvac, open an account with the cheapest * platform approved by professionals, Interactive brokers. Their clients from more than 200 countries and territories trade stocks, options, futures, currencies, bonds and funds around the world from a single integrated account.

This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative material. Simply Wall St has no position in any of the stocks mentioned.
*Interactive Brokers Ranked Least Expensive Broker By StockBrokers.com Online Annual Review 2020

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


This special SBI savings account can help you get a higher interest rate



As the State Bank of India or SBI Savings Account interest rate drops below 3% (2.70% per annum), SBI clients are looking for options where they can get more returns without change their risk appetite. For these SBI clients, there is an SBI Plus Savings Account, which is linked to the Multiple Option Deposit System (MODS), in which excess funds above a savings bank account threshold are automatically transferred to term deposits opened in multiples of ₹1000. According to the details of this special SBI savings account available on the official SBI website – sbi.co.in – the period of this term deposit varies from 1 year to 5 years. One can also get a loan against MOD deposits.

Like flexi fixed deposits, in this SBI Savings Plus account the amount above a threshold is transferred to the fixed deposit (FD). And in the event that the amount is less than the minimum account balance, the deficit is transferred from the fixed deposit (FD) to maintain the minimum balance of the SBI savings account.

SBI Savings Plus Account: Eligibility criteria

According to the official SBI website – sbi.co.in, here are the eligibility criteria to open this special SBI savings account:

1]All persons with valid KYC documents are eligible to open a savings bank account and

2]Alone, jointly or with either or the survivor, the former or the survivor, any person or the survivor, etc.

For KYC requirements, the client must specify whether the “first in, first out” or “last in, first out” principle is to be applied for opening depots. In the absence of a mandate, the principle of “last in, first out” will be applied.

Main characteristics of the SBI Épargne Plus account

According to the information available on sbi.co.in, here are the main features of the SBI Savings Plus account:

1]The deposit period is 1 to 5 years;

2]ATM card;

3]Mobile banking services;

4]Inter Net banking

5]SMS alerts;

6]Loan against MOD deposits available;

7]Minimum threshold for transfer to MOD – ₹35000;

8]Minimum transfer amount to the MOD ₹10,000 in multiples of ₹1000 / – to one instance;

9]25 free checks per year. Other checks will be issued with fees based on the average quarterly balance maintained by the customer;

10]Transfer of accounts via Internet Banking;

11]Maximum balance: no limit

12]A passbook is issued to record transactions. A duplicate of the book may be issued in the event of loss of the original, against payment of costs. Account statements can also be sent by email; and

13]Average monthly balance: NIL.

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Unregulated lawsuit loans are an expensive way to fundraise for the holidays


Some consumers looking to free up cash for their vacation spending this year are turning to an expensive source: cash advances on lawsuits.

“It’s a very busy time with cash needs for the holidays,” said Chris Janish, managing director of Legal-Bay LLC, who describes the money he sends to plaintiffs as “cash advances without recourse.”

Advance volume increases 30-40% during the holiday season compared to usual months, said Ronald Sinai, founder of Nova Legal Funding. He said it was the busiest time of year for his business.

“We get a lot of requests from $ 1,000 to $ 2,000 for family gifts and related expenses,” Sinai said. “People want to give their children this memorable Christmas.”

More than half of consumers took on credit card debt to pay for their vacation purchases last year, according to NerdWallet data, and 14% still haven’t paid off their 2016 vacation debt. used debt to fund their vacation purchases last year took on an average of $ 1,003 in new debt, according to MagnifyMoney.

But exploiting a pending legal claim for money can be much more costly than incurring credit card debt.

In a disclosure on its website regarding loans made in South Carolina, Oasis Legal Finance LLC states that its maximum annual rate on personal loans is 98%. Legal-Bay’s website says it charges a maximum rate of 26.9% in the first year of an advance.

In some cases, borrowers may also pay brokerage fees on advances. The Cash4Cases website states that it pays a “referral fee” of up to 25%.

By comparison, the average annual variable credit card interest rate was recently 16.61%, according to Bankrate.

There are no publicly available industry-wide figures on the number of lenders or dollar amounts loaned to individual plaintiffs.

But the numbers on commercial litigation loans show a booming industry. Some 36% of U.S. law firms reported using litigation financing this year, up from 7% in 2013, according to Burford Capital LLC. The company cautions that these numbers reflect use in commercial litigation, as opposed to use by individuals.

Individuals can turn to legal loans after, for example, an accident in a store or an injury at work. Some lenders work directly with injured people, while others are linked to borrowers through plaintiffs’ lawyers.

Lenders review medical records

To determine whether to grant funds, lenders can review the applicant’s medical records and any relevant police reports or court documents, if a claim has already been filed. In some cases, advances are approved within 24 hours.

Lenders are usually only reimbursed if a plaintiff wins in court or settles down. This is why the structure is generally referred to as a “non-recourse advance” instead of a loan.

It also means that advances are not, under the laws of most states, considered loans and therefore generally not subject to the laws that govern traditional loan products. These laws include state usury laws that limit interest rates and the Truth in Lending Act, which requires lenders to provide certain information about the total cost of the loan, said Stuart Rossman, director of loans. litigation at the National Consumer Law Center.

“It’s an unregulated industry for the most part,” Rossman said. “Without a truth about loans or a comparable opinion, it is very difficult for consumers to know how much they will ultimately pay.”

It is an unregulated industry for the most part.

Stuart rossman

National Center for Consumer Law

The Consumer Financial Protection Bureau said earlier this year that it may begin to take a more active role in monitoring the industry. In February, the agency filed a lawsuit against RD Legal Funding LLC, alleging the lender scammed 9/11 responders by paying expensive advances on settlement payments and lying about the terms of the advances. This trial is ongoing.

CFPB may not play an active role

But the CFPB is unlikely to play an active role in regulating legal lenders under interim director Mick Mulvaney, or under a future permanent director appointed by President Donald Trump, said Nora Freeman Engstrom, professor of law at Stanford Law School.

“At least in the short term, if there is to be protection for consumers, it will have to come from states,” she said.

Arkansas, Indiana and Tennessee have passed laws in recent years to limit interest rates to the maximums set by existing consumer loan laws or to require disclosures from lenders, Page Faulk said, Senior Vice President of Legal Reform Initiatives for the US Chamber Institute for Legal Reform, an affiliate of the US Chamber of Commerce.

Rich Palma, president of Golden Pear Funding, said applicants who take out cash advances have better protection than borrowers in other lending situations because their own lawyers usually review and sign upfront agreements.

“In our company, the claimant receives an agreement that both the claimant and the lawyer recognize,” he said.

Because litigation progresses slowly, loans may have a beneficial role to play for aggrieved plaintiffs, Engstrom said.

“What these companies are doing is responding in some cases to a real financial need, as a victim is injured, the victim cannot go to work, the bills keep piling up and the settlement takes months. , even years, ”she said. “But the question is whether these funding agreements are fair and concluded with adequate transparency.”

More personal finance

New rules aim to tackle payday loan abuse
How the Fed rate hike will affect you

Britain’s largest payday lender QuickQuid about to be administered?


Britain’s biggest payday loan meltdown since Wonga could be on the cards with QuickQuid set to go into administration, according to reports.

Lender – which offers short-term loans with interest rates of up to 1,300% – could collapse in days, with Wonga administrators Grant Thornton doing the same job with QuickQuid, reports show from Sky News.

It would mark another casualty in the UK payday lending market since the Financial Conduct Authority introduced tougher rules in 2014 and 2015.

This introduced higher affordability checks and capped the amount borrowers could repay at double the amount they borrowed.

QuickQuid claims to have 1.4 million customers and the number of complaints about this has increased dramatically in recent years

Wonga has been bowled over by a backlog of complaints from customers who claimed he had mis-sold loans they couldn’t afford to borrow, while since his disappearance he has been beset by even more people seeking to reclaim their money. silver.

Its listeners Grant Thornton revealed in March that more than 40,000 people who borrowed from Wonga were trying to make claims at the time of bankruptcy, more than four times the number originally expected.

Meanwhile, the number of complaints about QuickQuid has exploded in recent years.

According to statistics from the watchdog, the Financial Ombudsman Service, the number of complaints about the beleaguered payday lender has tripled from just over 1,500 in the past six months to 4,692 in the first six months from last year.

In total, more than 10,400 complained to QuickQuid’s FOS in 2018, which contributed to a 130% increase in payday lender complaints in 2018-19 from the previous fiscal year.

Peter Briffett, co-founder and CEO of income streaming app Wagestream, said, “This is another nail in the coffin of the payday loan industry and a fantastic day for consumers.

“Those under financial pressure are better informed and financially literate than ever before, and there has never been a greater variety of payday loan alternatives available.”

Stress: The high cost of <a class=payday loans has resulted in thousands of complaints from customers who have claimed they have been mis-sold, and many have received payments.” class=”blkBorder img-share” style=”max-width:100%” />

Stress: The high cost of payday loans has resulted in thousands of complaints from customers who have claimed they have been mis-sold, and many have received payments.

A spokesperson for StepChange Debt Charity said: “Payday loans are generally a very expensive form of credit.

“We urge anyone relying on this type of credit to contact a reputable charity as soon as possible.

“If a person feels they need to take out high-cost short-term credit just to get by, they are likely to benefit from a debt counseling session instead.”

QuickQuid is owned by the American company Enova.

His other UK payday lender – Pounds to Pocket – which became On Stride Financial, agreed to reimburse clients £ 1.7million after failing to comply with new FCA accessibility tests.

Enova’s third quarter results are expected after the market close on Thursday. The company claims to have provided more than 5 million customers worldwide with more than $ 20 billion in loans and financing, while QuickQuid claims to have more than 1.4 million customers.

In June, This is Money exclusively revealed that another payday lender and pawnshop The Money Shop has gone out of business, putting hundreds of jobs at risk due to “poor financial performance” and ” unprecedented number of customer complaints ”.

In 2015 he was forced to pay £ 15million in compensation after the watchdog discovered customers may have suffered from the company’s affordability checks, debt collection practices and errors system.

The company exited the high cost credit market a year before going out of business.

After Wonga’s bankruptcy, QuickQuid chief executive Nick Drew insisted in September that his business was “profitable and growing, and we remain excited about the opportunities, especially in light of the dwindling performance. competition in the market ”.

This is Money has contacted QuickQuid for comment, but has not received a response at time of posting.

Some links in this article may be affiliate links. If you click on it, we can earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

If payday loans disappear, what replaces them? – Denver Post


NEW YORK – Lenders who advance money to the poor on their paychecks charge exorbitant interest rates that often trap the most vulnerable customers in a cycle of debt, industry critics have long said .

Yet even consumer advocates who hate the industry admit it fills a need: to provide small amounts of money quickly to people who can’t qualify for a credit card or bank loan. About 12 million Americans take out a payday loan each year, spending more than $ 7 billion, according to the Pew Charitable Trusts.

But with new regulations proposed by the Consumer Financial Protection Bureau expected to deeply attack the industry, experts and consumer advocates are trying to figure out what will replace it.

This is how the traditional payday loan model works. A customer will borrow money, often from a payday loan store, where the borrower provides a post-dated check or gives the lender written permission to debit their checking account on a certain date, usually 14 to 30 days from the date. the date of the loan. has been removed. Unlike an installment loan, where the loan is repaid over a period of several months, a payday loan is due in full when it falls due.

The problem with this structure is that the majority of payday loans are renewed or extended, according to reviews, meaning that a customer cannot find the full sum to pay off the loans and has to re-borrow the loan for a fee. About 60% of all loans are renewed at least once, and 22% of all loans are renewed at least seven times, according to a 2014 CFPB study. In California, the largest payday loan market, regular borrowers accounted for 83% of loan volume last year, according to a study by a state regulator released Wednesday.

The CFPB proposal is not expected to go into effect until early next year, and experts don’t think it will change significantly from its current version. It would require payday lenders to determine each customer’s ability to repay that loan within the allotted time and limit the number of times a customer could renew the loan. The CFPB proposal poses an existential threat to the payday lending industry in its current state, according to industry officials and regulators, with loan issuance set to drop from 59% to 80%. While most of this decline, according to the CFPB, would come from the cap on renewed loans, the CFPB recognizes in its proposal that the volume of payday loans would decline under the new regulations.

“Frankly, there will be fewer small dollar loans available to consumers as a result of this proposal. There will be no individual replacement. And anything that replaces it will be a substandard product, ”said Bob DeYoung, professor of financial markets at the University of Kansas.

The industry has historically moved quickly from product to product to evade regulation. When Arizona voters banned traditional payday loans in 2010, payday loan storefronts quickly turned into auto title lending stores – offering the same high interest loans structured differently. Other payday lenders have moved to Indian reservations to evade state regulations or are moving to countries other than the United States as online-only payday lenders.

But these regulations, the first nationwide crackdown on payday loans, would shut down thousands of payday loan stores across the country.

“This proposal does not modify or reform an existing product. This is a complete overhaul of the industry, ”said Jamie Fuller, senior vice president of public affairs at Advance America, a payday lending chain.

What would replace payday loans is not an easy question to answer, but there are a few scenarios that industry experts and consumer advocates expect to happen.

SAME BIRD, NEW FEATHERS: The simplest answer is that the industry will survive and continue to do what it does by changing the nature of the loans it gives.

Nick Bourke, a researcher at Pew who has spent more than five years studying the payday lending industry, says the industry is already making adjustments as a result of the new regulations. When Colorado effectively banned traditional payday loans, the industry shifted to high-cost installment loans that are paid off in months instead of being prepaid in weeks.

“There will be fewer two-week payday loans due to CFPB rules, but the industry has already moved to an installment loan which is paid over several months. There will always be high interest payday loans in the market, ”Bourke said.

GUARANTEE: Another possible beneficiary can be the pawn shops. A 2015 Cornell University study found that states that banned payday loans saw more activity in pawn shops and more chequing accounts were closed unintentionally, a possibility due to an increased number of people doing so. an over-counting of their accounts. But pawn shops are widely regarded as a place of borrowing for people who don’t have a checking account.

BANKS TAKE OVER: Consumer advocates and the CFPB have publicly stated that the best solution would be for traditional banks, which are highly regulated, to take over payday loans. Banks have many locations, easy access to funds, and can provide loans at much lower interest rates while still being profitable. But the banks were cold at best. Payday loans are considered risky and expensive. The underwriting and processing costs would eat into the benefits of the high interest rates they carry.

“Most of our members are willing to take small dollar loans, but they are not very profitable. The application fee does not cover the cost of applying, processing and checking credit. There are only fixed costs that you just can’t get around, ”said Joe Gormley, assistant vice president and legal counsel for the Independent Community Bankers of America, a lobby group for small banks.

CREDIT COOPERATIVES: There are already experimental alternatives to replace payday loans.

A program run by credit unions is called the Alternative Payday Loan, where a customer can borrow between $ 200 and $ 1,000 at an interest rate of 28% and an application fee of $ 20. But interest in the program has been limited. The federal regulator of the PAL program estimates that only 20% of credit unions have provided such loans and that loan origination was only $ 123.3 million last year, down from some $ 7 billion. dollars that the payday lending industry made in the same year.

There is also a pilot program in Atlanta, run by the Equifax credit agency and the National Federation of Community Development Credit Unions, which will offer payday loan alternatives with lower interest rates as well. as financial advice to help people avoid borrowing in an emergency again.

Broward lawyer accused of raising $ 100 million for fraud scheme


Fort Lauderdale attorney Andrew Dale Ledbetter, 78, was charged Tuesday with conspiracy to commit fraud and securities fraud, making him the latest in a series of people to face criminal charges for ties to the now defunct Hallandale Beach commercial loan company 1 Global Capital LLC.

Southern Florida District Attorney Ariana Fajardo Orshan announced the charges in a press release Tuesday that the 1 Global program has affected more than 3,600 investors in 42 states.

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New Wonder Woman 1984 poster is a psychedelic journey


Wonder Woman 1984 (Warner Bros)

East Wonder Woman 1984 put in 1984? Or 1969? Because the new DC movie poster has a distinctly psychedelic vibe.

Warner Bros. has released colorful new promotional material, featuring Gal Gadot’s Diana Prince scalloped in swirling paint.

It also gives us a good look at Wonder Woman’s new ‘golden eagle’ armor, the need for which currently remains a mystery, although it was briefly seen in the film’s first trailer.

It follows on from previous posters of characters who landed before Christmas …

With Patty Jenkins, who directed the first Wonder woman film, back on board, the action accelerated until 1984, since its introduction to the DC Extended Universe in 2017, which presented the backdrop to WWI.

Read more: Everything we know about Wonder Woman 1984

Despite the decades between them, Chris Pine’s American pilot Steve Trevor will somehow return as she takes on new, deadlier foes.

Kristen Wiig plays Barbara Ann Minerva, aka Cheetah, classically the arch nemesis of Wonder Woman in the comics.

Wonder Woman 1984 (Photo credit: Warner Bros)

Wonder Woman 1984 (Warner Bros)

She will also face off against media mogul Max Lord, played by The iron Throne star Pedro Pascal, while Robin Wright and Connie Nielsen will return as Antiope and Hippolyta.

Also starring, in so far unspecified roles, Natasha Rothwell, Ravi Patel, Gabriella Wilde, Kristoffer Polaha and Amr Waked.

Read more: The Batman stops filming for two weeks

With big shoes to fill (the first movie topped $ 822 million), Wonder Woman 1984 is scheduled to land worldwide on June 5.

Check out the first trailer below …

CFPB unveils Obama-era payday loan regulatory review plan


WASHINGTON – The Trump administration on Wednesday announced it would revise an Obama-era payday loan regulation, unveiling a proposal to remove a loan requirement that would have made it difficult for businesses to offer loans to the high cost consumption.

As part of the move, the Consumer Financial Protection Bureau announced that it will postpone the effective date of the payday loan rule to November 19, 2020.

The rule was the first federal effort to regulate short-term loans for low-income consumers and was due to come into effect in August. The Trump administration’s proposal will now go through a new administrative process that will take several months, including a 90-day public comment period starting shortly.

The announcement follows years of lobbying by payday lenders and auto lenders to block Obama’s payday loan rule. Industries said the regulations would wipe out their business by imposing onerous requirements to pre-determine the likelihood that customers could repay the loan.

“The bureau’s proposal suggests that there was insufficient evidence and legal support for the mandatory underwriting provisions in the 2017 Final Rule,” CFPB said, explaining the reasons for the review. The bureau, he said, is also concerned that these requirements could reduce consumers’ access to credit and competition.

Millions of Australians fall victim to ‘predatory’ payday lenders, report finds


With a low income and four dependent children, one of whom has autism, single mom Kirsten White is doing it tough.

In his Kingston home on the outskirts of Hobart, every penny counts.

So when the brakes on his car suddenly failed, it took a toll on his budget.

Ms. White “urgently needed” $ 350, and a payday lender was there for her.

“I couldn’t think of another way at the time to get my car repaired,” she said.

“I had the impression [the payday lender was] quite flexible with refunds. “

When she couldn’t meet the bi-monthly repayments, her original loan of $ 350 turned into a debt of $ 800 in six months.

Ms White believes the lender was deliberately vague about interest rates and that she was “financially taken advantage of.”

“They wait until they give you the finances and then take you to the deep end.”

Ms. White took out the loan to pay for repairs to her car.(

Provided: Kirsten White


Out of desperation, Mrs. White resorted to selling furniture and personal items to pay off the debt.

“I found it very difficult to put food on the table and meet my other expenses to the point that I had to sell personal items,” she said.

“I feel that [payday lenders] should be under strict supervision, maybe have [interest rates] capped, so it doesn’t happen to other families. “

Ms White’s lender has been contacted for comment.

Growing number of single mothers with access to loans

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Payday loans create ‘debt traps’, warn consumer advocates

A new report compiled by consumer groups has found millions of Australians to fall victim to the “predatory” practices of payday lenders.

The report found that over the past three and a half years, around 1.77 million Australian households have taken out 4.7 million individual loans.

Gerard Brody of the Consumer Action Law Center said the people who opt for payday loans were “the hardest ones in society.”

“There is a growing group … that the report calls in financial difficulty,” he told ABC’s News Breakfast.

“They are… more likely to be workers, but maybe with insecure jobs, maybe with higher expenses.

He said women now made up 23% of borrowers, with the report showing the number of women using payday loans increased from 177,000 in 2016 to 287,000 in 2019.

“And 41% of them are single mothers,” he said.

Interest ‘up to 400pc’

According to the report, Victoria registered 275,624 new payday loans between January and July of this year – the most of any state or territory.

New South Wales finished second with 254,242 new loans.

The fastest growth has been seen in Tasmania, where Ms White lives, and Western Australia, with those states posting increases of 15.5% and 13.5% respectively between January and July of this year.

John Hooper of the Tasmanian Interest-Free Loans Program, which provides interest-free loans to low-income people, said some payday lenders are not forthright about interest rates and purposely advertise in communities socio-economic disadvantaged.

“Some loans are transparent and some are not. It is often not called ‘interest’, it is hidden in the fees and charges that people pay,” he said.

Mr Hooper said lenders “are acting quite recklessly and doing well” because there is no cap on the fees lenders can charge.

He said federal legislation capping payday loans and consumer leases, which allow consumers to rent or lease property, has stalled.

The federal government announced plans to toughen laws on small consumer loans and leases in 2016 following an industry review.

“We are now almost at the end of 2019 and there is no legislation. How long does it take to get legislation passed by a parliament,” Hooper said.

In a statement, a spokesperson for Deputy Treasurer Michael Sukkar said work on improving consumer protection “was progressing”.

“The government is currently reviewing public submissions on final reforms to ensure a fair balance between improving consumer protection, while ensuring that these products and services can continue to play an important role in the economy,” said the press release.

Ms White said she would never go back to a payday lender again and advised others to “get away from them”.

“They are financial vultures. Stay away from them,” she said.

It’s time to correct the military loan law


The “Today Show” recently highlighted the very real daily economic struggles of servicemen and their families, who should never have to worry about their financial security when they focus on the security of our nation.

Yet the annual Blue Star Families survey indicates that worries about personal or family finances are the top military stressors. The 2019 Military Financial Readiness Survey conducted by the National Foundation for Credit Counseling and Wells Fargo found that military personnel are twice as likely not to be able to pay their bills on time as they were. is five years old. About 10 percent said they currently have debts in collection.

Just as disturbing as their struggle to pay their weekly food bills, their credit card debts, and juggle funds to cover their expenses, the Defense Department has policies in place that make the finances of the military and their families. potentially more precarious families.

Today, servicemen are paying off loans for new cars and trucks for vehicles that have been destroyed by accidents or natural disasters, such as hurricanes, in part because the military does not allow them to purchase a form common protection, this is called a Waiver of Guaranteed Automobile Protection or “GAP”. Some members of my association would otherwise be able to offer the military the option of purchasing such insurance.

When you buy or lease a new vehicle, it depreciates as soon as it leaves the car dealership. A standard insurance policy typically covers the depreciated – or current – value of a car at the time of an accident.

But some servicemen – as well as other younger consumers who buy their first car – tend to put down smaller deposits and take out longer-term loans. In the event that a serious accident totals a car, a GAP covers the difference between what the insurer pays, its fair market value, and the amount owed on the loan or lease.

In an effort to protect military personnel from predatory payday lenders and unscrupulous businesses, Congress passed the Military Lending Act (MLA), which puts in place protections for various credit extensions but excludes auto loans. The Department of Defense, however, drew up a rule of interpretation in 2017 that swept aside the GAP waiver in a broader effort to protect military personnel from what were perceived to be unnecessary products.

The Pentagon basically said it was okay for a military person to add the cost of snow tires or the leather interior to a car loan, but that voluntary protection products, such as purchasing insurance GAP, were not. As a result, the military has limited protection for a large purchase and financial shock. This situation highlights two areas that should be addressed.

First, one of the reasons policymakers embraced MLA was the lack of financial literacy among young military personnel. Many military personnel enlist at a young age, with little experience managing their finances or building credit, a perfect storm for predatory lenders. There are a number of good financial literacy resources out there to provide advice to those new to their careers who need advice on everything from savings accounts to building good credit and consuming smart. of financial services. With data revealing that a large majority of American households are living paycheck to paycheck, policymakers need to put a renewed emphasis on financial literacy.

Second, the Department of Defense needs to review some of the regulations it has put in place in the MLA implementation process to determine whether these policies actually hamper the financial security of military personnel. So far the department has shrunk. The Trump administration should order such a review immediately.

The men and women of our armed forces must focus on their mission, without worrying about how to pay unforeseen debts, how they will get to work without a vehicle, or bad actors taking advantage of their finances. The burden they carry to ensure the security of our nation is quite great. The least policymakers can do is put in place the right policies and correct those that prevent our military families from having a little more financial certainty and security.

Bill Himler is President and CEO of the American Financial Services Association, a trade association dedicated to preserving access to affordable credit for the American consumer.

Teenager hit police dog 20 times in machete attack


Stark was attacked with a machete but is expected to make a full recovery. (West Midlands Police)

A teenager admitted to causing serious injuries to a police dog after being accused of hacking “savagely” with a machete.

The 16-year-old, who cannot be named for legal reasons, was struck more than 20 times and left police dog handler Stark fearing the animal would be killed, the juvenile court said on Tuesday from Birmingham.

The boy admitted to causing unnecessary suffering to the three-year-old dog, who a prosecutor said was lucky to survive, and had a machete in a public place.

The court heard that PC Paul Hopley and Stark were looking for suspected burglars in Handsworth, West Midlands, at 4 a.m. on November 14.

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Stark suffered facial injuries and narrowly avoided having his eye cut.  (West Midlands Police)

Stark suffered facial injuries and narrowly avoided having his eye cut. (West Midlands Police)

The police recovered the machete.  (West Midlands Police)

The police recovered the machete. (West Midlands Police)

They were on a housing estate when the boy tried to escape, and continued after PC Hopley identified himself as a police officer, the court was told.

“The officer was able to see him repeatedly hit the dog with what he initially thought was a stick on the head and body,” prosecution Angela Hallam said.

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“The man hit it over 20 times and as the officer approached he could see that it was in fact a machete.

“Despite being repeatedly told to put the gun down, he continued to swing the machete wildly.”

Stark should make a full recovery.  (West Midlands Police)

Stark should make a full recovery. (West Midlands Police)

PC Hopley and Stark met the teenager while they were looking for a housing estate.  (West Midlands Police)

PC Hopley and Stark met the teenager while they were looking for a housing estate. (West Midlands Police)

The boy was pinned to the ground by PC Hopley, who feared the teenager would kill the dog.

Hallam said that “it was only luck that he got away with the injuries.”

Stark, a German Shepherd and Belgian Malinese cross, underwent surgery after being sedated and had wounds on both sides of his face sewn up. One of them approached his eye, but the dog should make a full recovery.

PC Hopley previously said, “When I saw the injuries so close to Stark’s eye, I feared the worst. I thought he might have been blinded in that eye.

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How workplace injuries affect a business


Workplace injuries can have a huge impact on your business on a variety of fronts. Besides having the potential to be incredibly expensive, an injury on the job can also have a very negative impact on worker morale. When your employees are unable to view your business as a safe place to work, they may become anxious. They may be afraid to come to work and look for other opportunities elsewhere.

Financial costs

Workplace accidents can have a profoundly negative impact on a company’s financial situation. There are many factors that go into determining how badly a workplace injury could affect your business. Some of the main things to consider when trying to protect your business from costly workplace injuries are:

OSHA Guidelines

Across the United States, OSHA has specific guidelines in place to protect workers from harm. Employers are required to adhere to the standards set out in these guidelines to ensure a safe working environment for employees. Failure to follow these guidelines can result in heavy fines for a business, especially in the event that an employee is injured as a result of the business failure.

Following OSHA guidelines and creating a safe workplace protects a business from fines it may receive from this organization. Plus, it helps ensure that fewer workplace accidents happen in the first place. Obviously, the best way to avoid the financial hardship associated with workplace injuries is to prevent those injuries from happening.

Medical compensation

When a worker is injured on the job, he has the right to file a workers compensation claim. Source: https://www.sinklaw.com/areas-we-serve/georgia/work-injuries-lawyer/

An employer’s workers’ compensation insurance will pay for the worker’s injuries, as well as any lost wages due to time off work. While this insurance protects the business against greater financial damage, more injury claims mean higher insurance rates for the business.

Legal fees

When an employee has a claim that goes beyond the level of coverage offered by an employer, lawyers will need to intervene. Even if a business is able to resolve the claim without going to court, there will still be many associated legal fees.

Accident investigation

When an accident occurs, it must be investigated and an accurate record of the events must be kept. It is important for a business to do this in all cases, and the associated cost could end up saving the business money if the investigation shows that the claim is fraudulent.

Lost production

On top of all of these costs, losing your employee for as long as their injury keeps them from working can be very costly to your business. Not only will productivity drop due to the loss of an employee, but productivity will decrease in all areas as other employees take over the duties of the injured employee, leaving them less time to complete their own. work.

Training of new staff

When the injured employee is due to an excessive absence of time, an employer may be forced to hire additional staff to assist him until his return. The costs of hiring a new employee can be significant. To fill vacancies that require little training, the expense may not be too great. However, if the job requires a long period of training, it can cost a company a considerable amount of money.

Not only will other employees continue to have to cover the work of the missing employee until the training process is complete, but they will also have to cover some of the work of the employee performing the training. They will be removed from their usual duties to upgrade the new employee and will not be able to cope with their usual workload.

Accidents happen

Unfortunately, even if you do everything to provide a safe workspace for your employees, accidents will always happen. There is no way to fully guarantee that an employee will not be injured on the job. Still, there are many steps that can be taken to minimize the likelihood of this event.

Making your workplace as safe as possible will also boost morale. An unnecessarily hazardous work environment will make employees anxious and uncomfortable at work and lead to high turnover. When employees see that their employer is doing everything to keep them safe, they will be much more satisfied and less likely to be looking to leave the company.

Kansas Payday Loans May Come With 391% Interest, Critics Say It’s Time For A Change KCUR 89.3


Maria Galvan earned about $ 25,000 per year. She was not entitled to social assistance, but she still had difficulty meeting her basic needs.

“I would work just to be poor and broke,” she said. “It would be so frustrating. “

When the going got tough, the single mom and Topeka resident took out a payday loan. This meant borrowing a small amount of money at a high interest rate, to be repaid as soon as she received her next check.

A few years later, Galvan found itself strapped for cash again. She was in debt and garnishments were eating up a large chunk of her paychecks. She remembered how easy it was to get that previous loan: walk into the store, be greeted with a friendly smile, get money without being judgmental about how she could use it.

So she went back to payday loans. Again and again. It started to feel like a cycle she would never escape.

“All you do is pay interest,” Galvan said. “It’s a really unhealthy feeling, especially when you’re already strapped for cash to start.”

Like thousands of other Kansans, Galvan relied on payday loans to meet basic needs, pay off debts, and cover unforeseen expenses. In 2018, there were 685,000 such loans, worth $ 267 million, according to the State Bank’s Commissioner’s Office.

But while the payday loan industry says it provides much needed credit for people who have a hard time getting it elsewhere, others disagree.

A group of Kansas nonprofits say the loans are targeting people who can least afford triple-digit interest rates. These people come from low-income families, have exhausted their credit cards, or do not qualify for traditional bank loans. And these groups say Kansas not only could do more to regulate lending, it lags behind other states that have taken action.

Alternatives to payday loans

Last year, Galvan finally finished repaying its loans. She got help from the Kansas Loan Pool Project, a program run by Catholic Charities of Northeast Kansas.

Once Galvan applied and was accepted into the program, a local bank agreed to repay about $ 1,300 it owed to payday lenders. In return, she took out a loan from the bank for the same amount. Interest was only 7%.

Now that she’s out, Galvan said, she’ll never come back.

She doesn’t have to. Making payments on this bank loan helped build her credit rating until, for the first time, she could borrow money for a car.

“It has been a huge achievement,” she said, “to know that I have this need and that I can meet this need on my own.”

The project has so far paid off $ 245,000 in abusive loan debts to more than 200 families.

Claudette Humphrey is leading the original version of the project for Northern Kansas Catholic Charities in Salina. She says her program has been able to help about 200 people by paying off more than $ 212,000 in debt. But it couldn’t help everyone.

“The number one reason, always, why we have to turn people away,” she said, “is simply because we have a limit.”

People are only eligible for the Kansas Loan Pool Project if they have less than $ 2,500 in payday debt and the means to repay a new low-interest loan from the bank. The program doesn’t want to put people further in the hole if they are also struggling with debt from other sources, Humphrey said.

“Sometimes even if we paid for this they would still be upside down in so many other areas,” she said. “I wouldn’t want to place an additional burden on someone.”

Humphrey doesn’t think his program is the only solution. In his view, it should be the responsibility of lawmakers to protect payday loan clients the same way they protect all consumers – by regulating payday loans like traditional bank loans.

“Why are these companies not subject to the same standard? ” she said. “Why, then, are payday lenders and title lenders allowed to punish them at such an astronomical interest rate for not being a good risk?” “

Potential changes

Catholic Charities is just one of the nonprofits calling for tougher rules. Coalition members include churches and community organizations, said Shanae ‘Holman, an organizer of Topeka JUMP, the group leading the campaign.

“There are other states that have guidelines in place that sell you how much income… what percentage of your check can go towards a payment,” Holman said. “These are the types of regulations that we would like to see”,

She wants Kansas to require longer loan periods so borrowers aren’t penalized when they can’t meet short payment deadlines.

Currently, the maximum term for a payday loan in the state is 30 days. In comparison, borrowers of small loans in Colorado must have at least six months to repay them, with no maximum loan term. In Ohio, borrowers have 91 to 365 days to repay a loan. If the loan term is less than 91 days, the repayment must be less than 7% of the borrower’s net income.

Both states have set annual interest rates close to 30%. Some states regulate payday loans the same way as other consumer loans. But Kansas is like most other states, allowing annual interest rates of 391%. This means that a loan of $ 500 over two weeks at 15% interest can cost a client almost $ 2,000 over the course of a year.

The group plans to work with lawmakers during next year’s session in Topeka.

This is the first time that such a large group has organized around the cause, said Jeanette Pryor, a Kansas Catholic Conference lobbyist. Payday loan reform is a recurring topic at the Statehouse, she said, but convincing lawmakers to increase regulations is difficult.

“This is something I heard at the beginning. “Why can’t an adult make a rational decision for himself? Why do we have to legislate this? ‘ She said. “The bigger the coalition, the more opportunities there are to educate legislators. “

Nick Bourke is the Director of Consumer Credit at Pew Charitable Trusts. He is pushing for reform of payday loan laws. He said reform was long overdue in Kansas, which has not updated its payday loan laws since 2005.

“It’s possible to give small credit, even to people with damaged credit histories, for a lot less money than what the Kansans are currently paying,” he said. “But Kansas laws are outdated.”

In 2014, Pew Charitable Trusts conducted research on the use of payday loans in each state. The organization found that 8% of Kansas residents had used payday loans in recent years, higher than the national average of 5.5%. The typical income for a borrower was $ 30,000.

The office of State Bank Commissioner David Herndon, who regulates lending and penalizes lenders for breaking the rules, declined to be interviewed in person or by phone but responded to questions by email. Bank deputy commissioner Tim Kemp said the agency only enforces existing law and does not weigh in on proposed changes.

Attorney General Derek Schmidt’s office, which handles consumer complaints about payday loans, has refused several requests for interviews and information.

A credit option

Payday lenders say they provide affordable credit to the large proportion of Americans who don’t have enough cash to cover an emergency expense. The Community Financial Services Association of America, an industry group for low dollar lenders, declined an interview due to scheduling conflicts but emailed a statement.

“Small loans are often the cheapest option for consumers,” CFSA President D. Lynn DeVault said in the statement. “Particularly in relation to bank charges – including overdraft protection and bad checks – or unregulated offshore internet lending and late bill payment penalties. “

Some Kansas clients, like Topeka’s Keri Strahler, say the loans help.

Strahler does not work and most of his income comes from Social Security disability insurance. This year, she took out three payday loans to cover her medical debts and said she had no difficulty paying them back.

She knows that many people see loans as predatory. But for Strahler, borrowing eased more stress than it caused. Her credit cards were already at their peak and the loans helped her avoid being sued or having to sell her furniture to cover her debt.

“I chose payday loans because I wanted them to be processed immediately,” she said. “It has been very helpful.”

Humphrey of Catholic Charities recognizes that loans can be helpful for some clients. The question is whether the state can prevent others from being exploited.

“I’m not saying there’s no room for them,” Humphrey said. “(But) is there a better way to do what they’re doing so that it doesn’t devastate families? “

Nomin Ujiyediin reports on criminal justice and welfare for the Kansas News Service. Follow her on Twitter @NominUJ or send an email to nomin (at) kcur (dot) org.

The Kansas News Service is a collaboration of KCUR, Kansas Public Radio, KMUW, and High Plains Public Radio focused on the health and well-being of Kansans, their communities, and civic life. Kansas News Service stories and photos may be republished by media at no cost with appropriate attribution and a link to ksnewsservice.org.

Trade Commission says Moola charged unreasonable credit and default charges in 2016 and 2017; commission still has ‘irresponsible loan’ case in High Court against Moola


Trade Commission declares payday lender Moola.co.nz Limited agreed to credit or repay approximately $ 2.8 million to current and former borrowers, after “acknowledging the commission’s opinion that it was charging unreasonable credit and default charges.”

Separately the commission has already initiated proceedings in the High Court against Moola irresponsible loan claim. The commission says the matter is unaffected by the unreasonable charges regulation.

The commission said that before the introduction of a daily charge rate cap in June 2020, Moola offered loans with interest rates of up to 620.5% per annum.

He said he started investigating Moola after receiving complaints, including from a budget advisory service in Christchurch.

“In September 2017, the district court raised concerns about the level of Moola’s fees and invited the commission to intervene in debt collection proceedings initiated by Moola,” the commission said.

‘As a result of the investigation, the Commission considers that between February 2016 and July 2017, Moola may have charged unreasonable credit and default charges, in breach of the 2003 Credit Agreements Act and consumer finance (CCCFA).

The commission said that during the period of investigation, Moola accused:

  • a default fee of $ 60 where the reasonable fee calculated by the commission was $ 10.24 to $ 15.66 (depending on when the fee was billed)
  • a set-up fee of $ 150 or $ 350 depending on the length of the loan, where the reasonable fees calculated by the Commission were $ 4.47 or $ 5.48 (depending on when the fees were billed)
  • a $ 50 processing fee where the reasonable fee calculated by the commission was $ 10.86 or $ 12.25 (depending on when the fee was billed).

“We consider that during the relevant period, Moola’s default charges, set-up charges and processing charges recovered costs that were not closely related to the matter for which the charges were. billed, as required by the CCCFA, ”said commission chair Anna Rawlings.

“Moola acknowledges our point of view and is committed to crediting or reimbursing affected customers the difference between the charges billed and the charges we calculated were reasonable charges.”

Rawlings said the fees must recover costs “relevant and closely related to the activity for which the fees are being charged.”

“The Commission is of the opinion that Moola’s charges have recovered more than these costs.”

She said Moola had cooperated with the commission’s investigation and reduced her fees before and during the investigation. In light of the business disruption caused by Covid-19, the Commission agreed it would give Moola six months to calculate the refunds it owed to customers before the public was notified of the settlement.

“Moola has agreed to identify the affected customers and calculate the difference between the invoiced amount and the reasonable amount calculated by the commission, which they have now done. Affected customers will be credited or reimbursed by Moola within the next 12 months. . “

Moola has also agreed to prominently post information about this agreement on its website.

“Anyone who took out a loan with Moola between February 2016 and July 2017 can consult it for more information. Moola will confirm that it has respected the agreement by providing a final report prepared by an independent accountant approved by the commission”, Rawlings said.

Former NFL QB Tarvaris Jackson Dies in Alabama Car Crash


Former NFL quarterback Tarvaris Jackson died in a car crash in Alabama on Sunday night, a police spokesperson confirmed to USA TODAY Sports on Monday. He was 36 years old.

Jackson was driving on a highway a few miles south of Montgomery, Ala., Around 8:50 p.m. Sunday when his 2012 Chevrolet Camaro pulled off the road, hit a tree and overturned, according to Alabama Soldier Michael Carswell. Law Enforcement Agency. Jackson was taken to a local hospital and later pronounced dead.

“Nothing further is available as FTAA soldiers continue to investigate,” Carswell said.

A second-round pick of the Alabama State Championship Subdivision School of Football, Jackson played nine seasons in the NFL with the Minnesota Vikings and Seattle Seahawks. (He also spent the 2012 season with the Buffalo Bills, but didn’t play.)

Jackson started 34 games in his career, including 14 for the Seahawks in 2011, and threw for more than 7,200 yards with 39 touchdowns and 35 interceptions. The Montgomery native also won a Super Bowl ring as a replacement for Russell Wilson in 2014.

“TJack … you will be missed. Pray for your family … I love you man “, Wilson wrote on Twitter Monday morning.

Jackson was released from the Seahawks in 2016. He was arrested in Florida later that year for allegedly firing a gun at his wife, though the charges were later dropped.

Jackson then decided to retire from the NFL and become a coach. He spent the 2018 season as a quality control assistant in his alma mater before joining the State of Tennessee as quarterbacks coach in 2019.

“I’m really comfortable with the career I’ve had in the NFL, but, of course, there are things you wish you could do again that you would do differently,” Jackson told the Tennessean in the summer. last. “A lot of things that I wish I could get back, I’m trying to teach these guys so they don’t go through the same thing.”

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