Finance

Covid puts financial stress on young people

<span>Photograph: Yurkevych Liliia/Alamy</span>
Photograph: Yurkevych Liliia/Alamy

Raymond Christie is having sleepless nights. The 18-year-old is worrying about how difficult it will be to find work opportunities as he anticipates an upcoming recession. Christie left school at 16 with no qualifications and went into training on a construction scheme that went into administration during the pandemic. Since then, he has had to rely on his family for financial support.

“My mental health has never been as bad as it has been over the last few months since my mid-teens,” he says. “Losing my place in something that I really enjoyed doing and the overwhelming feeling of uncertainty has made me struggle with deep moods of depression and boredom. Most days, I don’t want to do anything or get up from my bed and I find it hard to motivate myself with nothing to do.”

Christie is not alone in being so worried. The debt

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California Municipal Finance Authority — Moody’s announces completion of a periodic review of ratings of Bella Mente Montessori Academy, CA

Announcement of Periodic Review: Moody’s announces completion of a periodic review of ratings of Bella Mente Montessori Academy, CA

New York, August 07, 2020 — Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of Bella Mente Montessori Academy, CA and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody’s practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near … Read More

What Congress got right with PPP, and what it should do next for small businesses

These days, you hear a lot about the Paycheck Protection Program (PPP), and not in a good way. 

The historic program was designed to rapidly distribute up to $659 billion in forgivable loans to small businesses across the country, helping them stay afloat and keep employees paid during the pandemic.

It’s difficult to overstate how unprecedented that number is. For context, the Small Business Administration (SBA), which runs PPP, provided a total of $28 billion in loans in 2019. 

Rolling out so much money in just two months has come with complications. Banks often prioritized existing customers and their most profitable borrowers when distributing funds, leaving the smallest businesses behind. Bad actors took advantage of the program to get money they didn’t need. And as the forgiveness stage nears, there’s widespread concern over the government’s exposure to fraud. 

But is that the real story of the PPP? 

At this very

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Edited Transcript of TCSq.L earnings conference call or presentation 6-Aug-20 1:00pm GMT

Moscow Aug 7, 2020 (Thomson StreetEvents) — Edited Transcript of TCS Group Holding PLC earnings conference call or presentation Thursday, August 6, 2020 at 1:00:00pm GMT

Sberbank CIB Investment Research – Head of Financial Institutions Research & Senior Analyst

Good day, and welcome to the second quarter and first half of 2020 IFRS financial results investor call.

Today’s conference is being recorded.

Today, on this conference we have Oliver Hughes, CEO; Ilya Pisemsky, CFO; and Sergei Pirogov, Head of Corporate Finance.

At this time, I would like to turn the call over to Mr. Oliver Hughes, CEO. Please go ahead, sir.

Thank you very much. And good afternoon to everybody.

Today, I’m pleased to report very strong second quarter financial results. We reported net profit of RUB 10.2 billion, our second highest quarterly result ever, representing 25% year-on-year growth and an ROE of 40%. This result is particularly impressive when … Read More

50 Purchases Buyers Almost Always Regret

Money is now tight for many Americans, and even if you’re one of the lucky few who still has their finances in order, there’s no use throwing money away on a purchase you’ll later regret. From boats to booze, here are 50 purchases that are almost sure to give you buyer’s remorse.

Physical discs are relics of a bygone era, and — just like cable — DVDs and Blu-rays are now playing second fiddle to streaming services.

A movie on an inexpensive DVD at Target costs $4.99, whereas an inexpensive Blu-ray costs $10.99. Even those bargain prices are too high, however. With movie streaming platforms like Hulu starting at $5.99 per month for unlimited access to movies, there isn’t a financial reason to buy physical discs anymore.

Extended warranties for electronics and appliances are almost never worth the money, according to Consumer Reports.

“Today’s appliances are fairly reliable,” … Read More

Millions set to see ‘big savings’ as price cap lowered

Energy bills will fall by around £84 in October for millions after the energy regulator lowered the price cap because of cheaper gas wholesale prices.

Ofgem has cut the default price cap to £1,042, its lowest level since the cap was introduced in January 2019.

The pre-payment meter cap will fall by £95 to £1,070.

Ofgem said the changes would mean “big savings” for around 11 million households on default tariffs and four million on prepayment meters.

The regulator said the reduction was due to a sharp decrease in wholesale gas prices since the cap was last updated in February.

But it warned that the cap was likely to rise in April as wholesale prices have started to recover since hitting 20-year lows in the spring.

Shop around

“Millions of households, many of whom face financial hardship due to the Covid-19 crisis, will see big savings on their energy bills

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Tri-Valley Teens Found Nonprofit, Make Coronavirus Care Packages

TRI-VALLEY, CA — When rising Dublin High School senior Sky Yang founded nonprofit Break the Outbreak in March, he had a website and a vision of outfitting essential workers with protective gear.

“Our operations were small at the time, and we had to finance them on our own,” Yang said in an email interview. “Initially, we faced rejections from many restaurants. But we persevered.”

Months later, Break the Outbreak is in the process of expanding to 28 chapters across 14 states, with more than 200 members, organizers said. Members have created and donated more than 2,000 masks to food industry workers stocking shelves and serving up meals.

Break the Outbreak has a strong East Bay presence with chapters in Dublin, San Ramon, Pleasanton, Livermore and Fremont, but has expanded to cities such as Los Angeles, New York City and Salt Lake City. The nonprofit’s first donation was to Rigatoni’s in

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How filmmaking friends Amy Seimetz and Kris Rey protected their movies during the pandemic

Amy Seimetz with fellow filmmaker Kris Rey (on phone) who is a close friend. Their new movies, Seimetz's "She Dies Tomorrow" and Rey's "I Used To Go Here," are being released on digital platforms on the same day. <span class="copyright">(Myung J. Chun/Los Angeles Times)</span>
Amy Seimetz with fellow filmmaker Kris Rey (on phone) who is a close friend. Their new movies, Seimetz’s “She Dies Tomorrow” and Rey’s “I Used To Go Here,” are being released on digital platforms on the same day. (Myung J. Chun/Los Angeles Times)

It’s always nice when friends go through things at the same time. So it seemed when Amy Seimetz’s “She Dies Tomorrow” and Kris Rey’s “I Used to Go Here” were each scheduled to premiere at the South by Southwest Film Festival in March. Then the event was canceled and both filmmakers found themselves in post-COVID limbo. Now their films are, coincidentally, getting VOD releases on Friday from separate distributors.

Seimetz and Rey re longtime figures in the independent film scene and festival circuit. Already established as an actress and producer, Seimetz directed her first feature, “Sun Don’t Shine,” in 2012 and went on to write, direct and

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Misty Copeland Says the Black Community Has Never Felt Like Ballet “Was Their World”

Misty Copeland became the first Black principal dancer for American Ballet Theatre in 2015, and through her professional career that has spanned two decades, she’s been fighting for change. “Initially, I got into ballet because it’s a silent art form,” she said on Yahoo Finance’s Influencers with Andy Serwer. “I didn’t want to speak, I wanted to express myself through movement.” The first decade of her career, she was the only Black woman in American Ballet Theatre, and she described feeling a sense of panic where she questioned if she was ever going to see another Black woman in her company or in her lifetime, even.

This realization prompted Copeland to start using her voice when it came to the racial insensitivity and inequality in the ballet world, with the hopes that she could make change for generations to come. “Black ballet dancers, our histories are so often just

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Amy Seimetz and Kris Rey on friendship and filmmaking

Amy Seimetz with fellow filmmaker Kris Rey (on phone) who is a close friend. Their new movies, Seimetz's "She Dies Tomorrow" and Rey's "I Used To Go Here," are being released on digital platforms on the same day. <span class="copyright">(Myung J. Chun/Los Angeles Times)</span>
Amy Seimetz with fellow filmmaker Kris Rey (on phone) who is a close friend. Their new movies, Seimetz’s “She Dies Tomorrow” and Rey’s “I Used To Go Here,” are being released on digital platforms on the same day. (Myung J. Chun/Los Angeles Times)

It’s always nice when friends go through things at the same time. So it seemed when Amy Seimetz’s “She Dies Tomorrow” and Kris Rey’s “I Used To Go Here” were each scheduled to premiere at the South By Southwest Film Festival in March. Then the event was cancelled and both filmmakers found themselves in post-COVID limbo. Now, their films are, coincidentally, getting a VOD release on Aug 7 from separate distributors.

The two women are longtime figures in the independent film scene and festival circuit. Already established as an actress and producer, Seimetz directed her first feature “Sun Don’t Shine” in 2012 and went on to write,

Read More