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PM to launch financing facility under Agriculture Infrastructure Fund

pm to launch financing facility under agriculture infrastructure fund

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Hal chhath is a festival dedicated to Balaram, the elder brother of Lord Krishna.Prime Minister Narendra Modi on Sunday greeted people on ‘Balram jayanti’, ‘Hal Chhath’ and ‘Dau janmotsav’, and said to mark the occasion, he would launch a financing facility of Rs one lakh crore under the Agriculture Infrastructure Fund.In a series of tweets in Hindi, he extended greetings, especially to the farming community on the occasion.Related NewsHal chhath is a festival dedicated to Balaram, the elder brother of Lord Krishna.On Sunday, Modi will also release the sixth instalment of funds of Rs 17,000 crore to 8.5 crore farmers under the PM-KISAN scheme.The scheme has also been instrumental in supporting farmers during the COVID-19 pandemic, he noted.Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool. Financial Express is now on Telegram. Click here to join our channel …

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Staff still shun London’s ‘ghost town’ finance hubs

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1 / 4Staff still shun London’s ‘ghost town’ finance hubsThe City, a square mile in the heart of London and home of the finance industry, is largely empty during the coronavirus pandemicDeserted streets, empty restaurants, shuttered stores: London’s financial districts remain largely abandoned by workers still worried about the pandemic and reluctant to return to office life. The City, a square mile in the heart of the British capital traditionally home to the finance industry, was eerily quiet over the past week, with just a smattering of tourists strolling the streets around St. Paul’s Cathedral. In Canary Wharf in east London’s Docklands, known for its skyscrapers housing the headquarters of major banks and related firms, it is a similar story. The picture has not changed much despite the government encouraging employees to begin returning to workplaces since August 1 in a bid to boost the struggling British economy. It is up to individual companies to decide how forcefully to urge their staff back and many are opting for a more relaxed approached. “Many of our clients, particularly in finance and insurance, are not coming back to work until next year,” said Pablo Shah of the CEBR economic consultancy. Although London’s business districts are …

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Kiplinger’s Personal Finance: What to do when retiring at the wrong time

kiplinger’s personal finance: what to do when retiring at the wrong time

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Both of Stephanie McElheny’s parents had personal experience with a retirement that came at the worst possible time.Her dad was about to retire in 2008 and decided to delay a few years. Her mom retired at 62 on Feb. 28, right into the market meltdown.Her mother’s retirement “looked at the time like almost comically bad timing,” said McElheny, president of wealth planning at Aspen Wealth Strategies in Arvada, Colo.

But McElheny had built plenty of contingencies into the retirement income projections she had made for her parents, including a longer life expectancy and higher than necessary set-asides for health care spending.If your situation has drastically changed, take a hard look at all your options, including these five rules in the time of COVID.1. Review your income game plan: Establishing a budget and a discipline for keeping portfolio withdrawals within an acceptable range is critical. Keep in mind the return assumptions baked into any income calculator you use. McElheny has trimmed assumptions on her moderate portfolios to 5.73% annually, far lower than many calculators typically assume.

2. Minimize taxes: Previously, experts recommended pulling retirement income first from taxable accounts, then from traditional IRAs and finally, from Roth IRAs. Today, the goal …

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Executive order extends U.S. federally-held student loan interest freeze until end of 2020

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U.S. President Donald Trump signed an executive order on Saturday directing the Education Department to extend an interest-free payment pause for 40 million student loan borrowers until at least the end of 2020.“Currently, many Americans remain unemployed due to the COVID-19 pandemic, and many more have accepted lower wages and reduced hours while States and localities continue to impose social distancing measures,” the executive order stated. “It is therefore appropriate to extend this policy until such time that the economy has stabilized, schools have re-opened, and the crisis brought on by the COVID-19 pandemic has subsided.”The protections for federally-held student loans were set to expire on September 30, as codified by the CARES Act, and will now extend until December 31, 2020. Private student loans are unaffected by the executive action action. NEWS: Trump orders @usedgov to continue suspension of monthly payments and 0 percent interest on all federally-held student loans until Dec. 31.Here’s the key part of the memo: pic.twitter.com/7NVFftVZT6— Michael Stratford (@mstratford) August 8, 2020 It’s unclear if the extend the administration’s previous policy of pausing the seizure of wages or tax refunds of Americans who defaulted on their federal student loans.It’s also unclear if borrowers …

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Are Poor Financial Prospects Dragging Down Trustpower Limited (NZSE:TPW Stock?

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View photosWith its stock down 3.8% over the past three months, it is easy to disregard Trustpower (NZSE:TPW). Given that stock prices are usually driven by a company’s fundamentals over the long term, which in this case look pretty weak, we decided to study the company’s key financial indicators. In this article, we decided to focus on Trustpower’s ROE.Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments. Check out our latest analysis for Trustpower How Is ROE Calculated?Return on equity can be calculated by using the formula:Return on Equity = Net Profit (from continuing operations) ÷ Shareholders’ EquitySo, based on the above formula, the ROE for Trustpower is:8.9% = NZ$98m ÷ NZ$1.1b (Based on the trailing twelve months to March 2020).The ‘return’ is the income the business earned over the last year. One way to conceptualize this is that for each NZ$1 of shareholders’ capital it has, the company made NZ$0.09 in profit.What Is The Relationship Between ROE And Earnings Growth?So far, we’ve learned that ROE is …

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Back in the Game: Senior center rebounding from financial struggles

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Earlier this year, the St. Helens Senior Center, located at 375 S. 15th Street in St. Helens, was financially struggling after losing a significant amount of funding from having to close Top Notch, its thrift store, due to the COVID-19 pandemic, and from no longer collecting revenue from hosting events at the center itself.While the center usually receives about $90,000 per year through the Community Action Team (CAT), federal funding that CAT received was set to run out by the time The Chronicle first published an article in April about the center’s financial struggles.The funding from CAT helped finance the center’s home-delivered meals program, which the center supplemented through the revenue and donations form the activities the center regularly hosted.

Now, the center is doing well financially, according to the center’s director Kathy Innocenti.“We should be able to get through the end of the year with funding we’ve received,” Innocenti said during a presentation to the St. Helens City Council August, 5.Before COVID-19 hit, the center would host regular dinners, classes and other entertainment events for those 65 and older in the area. Seniors were able to take part in exercise classes, billiards, painting, crafts, pinochle games, bingo, …

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Metro East financial adviser bilked $1.5 million from investors to buy cars, jewelry

metro east financial adviser bilked $1.5 million from investors to buy cars, jewelry

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Virus causing financial pain even for people still working

virus causing financial pain even for people still working

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ATLANTA (AP) — Getting her job back should have been a relief for Leesa Huddleston.A kitchen worker at an Indiana casino, Huddleston returned in June after a three-month furlough caused by the coronavirus. She felt fortunate to no longer be among the roughly 30 million Americans who remain jobless and are now struggling with suddenly reduced unemployment aid.Yet the return of her job hardly ended Huddleston’s financial troubles. Her employer, its revenue shrunken by the loss of customers, cut her schedule to four days a week. That meant a $300 drop in monthly pay — money that, along with overtime, had allowed Huddleston to afford rent, a car payment and other necessities. Now, she’ll have to decide what to stop paying when she runs through her savings. ADVERTISEMENT“I go from day to day,” said Huddleston, 59. “I handle it better some days than others.”Huddleston belongs to a category of Americans who are largely overlooked at a time when unemployment is high and a critically important $600-a-week federal jobless benefit has just expired: People who still have jobs but whose financial struggles have nevertheless escalated in the face of the pandemic. Some have endured pay cuts or have had their …

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Ellington Financial Declares Monthly Dividend of $0.09 Per Common Share and Announces Estimated Book Value Per Common Share of $15.84 as of July 31, 2020

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Ellington Financial Inc. (NYSE:EFC) (the “Company”) today announced that its Board of Directors has declared a monthly dividend of $0.09 per common share, payable on September 25, 2020 to stockholders of record as of August 31, 2020.The Company also announced its estimated book value per common share of $15.84 as of July 31, 2020. This estimate includes the effect of the previously announced monthly dividend of $0.09 per common share, payable on August 25, 2020 to holders of record on July 31, 2020, with an ex-dividend date of July 30, 2020.Cautionary StatementsEstimated book value per common share is subject to change upon completion of the Company’s month-end and quarter-end valuation procedures relating to its investment positions, and any such change could be material (particularly in light of the significant volatility, lack of pricing transparency, and market dislocations that have been caused by the novel coronavirus (COVID-19) pandemic, and associated responses to the pandemic). There can be no assurance that the Company’s estimated book value per common share as of July 31, 2020 is indicative of what the Company’s results are likely to be for the three- or nine-month periods ending September 30, 2020 or in future periods, and the Company undertakes no obligation to update or revise its estimated book value per common share prior to …

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Virus causing financial pain even for people still working | WTOP

virus causing financial pain even for people still working | wtop

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ATLANTA (AP) — Getting her job back should have been a relief for Leesa Huddleston.
A kitchen worker at an Indiana casino, Huddleston returned in June after a three-month furlough caused by the coronavirus. She felt fortunate to no longer be among the roughly 30 million Americans who remain jobless and are now struggling with suddenly reduced unemployment aid.
Yet the return of her job hardly ended Huddleston’s financial troubles. Her employer, its revenue shrunken by the loss of customers, cut her schedule to four days a week. That meant a $300 drop in monthly pay — money that, along with overtime, had allowed Huddleston to afford rent, a car payment and other necessities. Now, she’ll have to decide what to stop paying when she runs through her savings.
“I go from day to day,” said Huddleston, 59. “I handle it better some days than others.”
Huddleston belongs to a category of Americans who are largely overlooked at a time when unemployment is high and a critically important $600-a-week federal jobless benefit has just expired: People who still have jobs but whose financial struggles have nevertheless escalated in the face of the pandemic.
Some have endured pay cuts or have had their hours …

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