Small U.S. business defaults up in states hit hard by COVID-19 By Reuters



By Ann Saphir

(Reuters) – U.S. states hit hardest by COVID-19 had some of the biggest jumps in small business loan defaults since the onset of the pandemic, and some of the highest rates of default overall, according to data provided to Reuters on Friday by PayNet, a division of credit tracking company Equifax Inc (NYSE:).

For a graphic of the top ten states by default rates in June, please see https://graphics.reuters.com/USA-ECONOMY/SMALLBUSINESS-DEFAULTS/dgkvldjodvb/chart.png.

For a graphic of the top ten states by rise in default rates since February, please see https://graphics.reuters.com/USA-ECONOMY/SMALLBUSINESS-DEFAULTS/yzdvxnazqvx/chart.png

From February, before the scourge, to June, the most recent data available, defaults among small businesses rose fastest in New York, where the disease has killed more people than in any other state.

Louisiana, the state with the highest per-capita case count as of the end of July, had the fourth-highest default rate among small businesses, the PayNet data shows.

Florida, with the fourth-highest per-capita COVID-19 case count, had the highest default rate of any state, at 4.29%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Over half of furloughed UK staff back at work, think tank estimates By Reuters


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© Reuters. FILE PHOTO: Workers are seen in the More London district, with Tower Bridge behind during the morning rush hour in London

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LONDON (Reuters) – More than half of the roughly 9 million British employees who were put on furlough during the coronavirus lockdown have already returned to work, the Resolution Foundation think tank estimated on Saturday.

Britain’s finance ministry has said furlough payments totalling 32 billion pounds ($42 billion) so far have been made in respect of a cumulative 9.5 million jobs, but does not publish figures on the current number of furloughed workers.

Based on an analysis of surveys of businesses and households from the Office for National Statistics, the Resolution Foundation estimated that the number of furloughed workers is “certainly below 4.5 million” and possibly as low as 3 million.

The furlough scheme started alongside the lockdown in March, and is due to end in October, after which many economists fear unemployment could rise sharply, surpassing the peak seen after the financial crisis.

Official data on Thursday showed big differences between sectors, with more than 90% of information technology and sewerage workers not furloughed, but almost half of staff in the hospitality, arts and leisure sectors still needing help.

“These workers face a heightened risk of unemployment as the Job Retention Scheme starts to be phased out,” Resolution Foundation economist Dan Tomlinson said.

From this month, employers must begin to contribute to the cost of paying furloughed workers, who receive 80% of their normal salary.

Last week, Britain’s National Institute of Economic and Social Research and the opposition Labour Party called for the programme to be extended until the middle of next year.

But finance minister Rishi Sunak has repeatedly rejected calls for an extension, and his deputy Steve Barclay said workers’ skills were likely to degrade if they spent more than eight months off work, waiting for a job that might not return.

Employers will receive 1,000 pounds for each furloughed worker they take back and keep employed until the end of January.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Big Tech, Central Banks and the Hunt for Monopolies, July 24-31 By Cointelegraph


Law Decoded: Big Tech, Central Banks and the Hunt for Monopolies, July 24-31

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.

The concept of monopoly will reign in today’s Law Decoded. As a fundamental principle, blockchain technology is about distributing both inputs and outputs of information securely. In its still very young lifecycle, the technology has proven to have boundless applications on the basis of this fairly simple principle.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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A 17 Year Old Was Just Arrested in Connection With Twitter’s Recent Hack By Cointelegraph


A 17 Year Old Was Just Arrested in Connection With Twitter’s Recent Hack

Authorities have taken a 17-year-old into custody, alleging the not-yet-adult cooked up the massive Twitter breach.

“Early this morning, the FBI, IRS, US Secret Service, and Florida law enforcement placed a 17-year-old in Tampa, Florida, under arrest — accusing him of being the ‘mastermind’ behind the biggest security and privacy breach in Twitter’s history,” a July 31 article from The Verge said.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Americans Trade Depreciating Dollars For Bitcoin By Cointelegraph


Bloomberg: Americans Trade Depreciating Dollars For Bitcoin

A Bloomberg article claims that Americans are foregoing the safety of the dollar for more speculative assets like stocks, gold, and (BTC).

Because of the COVID-19 lockdown, the personal savings rate in the U.S. is at a historic high. The yield offered by the financial institutions on savings accounts, however, is close to zero. At the same time, assets as Bitcoin, equities, and gold, all have made double-digit gains since March. This is making them an attractive option for investors.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Senate Democrats press Postal Service on delivery complaints By Reuters


© Reuters. Senate Homeland Security and Governmental Affairs Committee hearing, in Washington

By David Shepardson

WASHINGTON (Reuters) – Four U.S. Senate Democrats on Friday pressed new Postmaster General Louis DeJoy about complaints from Americans about slow delivery since he took office in June and whether service problems could hinder attempts to mail in 2020 election ballots during the pandemic.

Gary Peters, top Democrat on the committee overseeing the Postal Service, along with Amy Klobuchar, Tom Carper and Charles Schumer sought answers about mail delivery under DeJoy, a top supporter of U.S. President Donald Trump who was also finance chair for the 2020 Republican National Convention.

“Recent concerns raised by constituents and postal workers have brought to light questionable changes under your leadership now taking place in post offices and processing centers across the nation that may negatively impact mail delivery,” the senators wrote DeJoy who took office in June. “It is essential that the Postal Service not slow down mail or in any way compromise service.”

The senators raised concerns that delaying mail deliveries could hinder attempts to mail in ballots for the 2020 election by Americans nervous about voting in person during a pandemic.

Trump has repeatedly said he believes millions of mail-in ballots would cause problems.

On July 20, senior House Democrats warned in a letter that “increases in mail delivery timing would impair the ability of ballots to be received and counted in a timely manner — an unacceptable outcome for a free and fair election.”

The senators cited Postal Service documents that discussed limiting carrier trips from processing centers to deliver mail and eliminating overtime and other cost-cutting measures.

A Postal Service spokesman said the agency “is taking immediate steps to increase operational efficiency by re-emphasizing existing plans that have been designed to provide prompt and reliable service within current service standards.”

He added the “Postal Service is developing a business plan to ensure that we will be financially stable” that will be presented to the Board of Governors when it is finalized.

The Postal Service has faced financial woes with the rise of email and social media, and a measure passed in 2006 requiring it to prefund 75 years of retiree health benefits over the span of 10 years at a cost of more than $100 billion.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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BTC, ETH, XRP, BCH, BSV, LTC, ADA,CRO, BNB, EOS By Cointelegraph


Price Analysis 7/31: BTC, ETH, XRP, BCH, BSV, LTC, ADA,CRO, BNB, EOS

Economists are divided on the consequences of record low interest rates across the globe and the incessant money printing by the central banks. However, one thing that most experts agree upon is that investors should get out of paper money and invest in hard assets.

Gold has been the traditional safe haven asset which is preferred by institutional investors looking to hedge their portfolio or protect their purchasing power.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Future Lotteries Could Benefit From ETH 2.0’s Randomness By Cointelegraph


Vitalik Buterin: Future Lotteries Could Benefit From ETH 2.0’s Randomness

Discussing Ethereum’s (ETH) hackathon in partnership with the Colorado State Lottery, Vitalik Buterin opined that in the future, such lotteries could benefit from 2.0’s Verifiable Delay Function.

The Ethereum creator will be one of the guests at the virtual opening ceremony for the Colorado State Lottery GameJam Hackathon. Jared Polis and Chainlink’s co-founder, Sergey Nazarov, will also be inattendance. Buterin does not believe that the Colorado Lottery will immediately start using the Ethereum blockchain for its games of chance, but suspects similar applications may utilize ETH 2.0’s randomness functions in the future:

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Fitch revises U.S. outlook to ‘negative’ from ‘stable’; affirms AAA rating By Reuters



(Reuters) – Ratings agency Fitch on Friday revised its outlook on the United States to “negative” from “stable”, citing deterioration in the country’s public finances and the absence of a credible fiscal consolidation plan.

High fiscal deficits and debt that were already rising before the coronavirus crisis have started to erode the traditional credit strengths of the United States, the agency said, while affirming its “AAA” rating.

“There is a growing risk that U.S. policymakers will not consolidate public finances sufficiently to stabilize public debt after the pandemic shock has passed,” Fitch said in a statement.

The United States had the highest government debt of any AAA-rated sovereign heading into the coronavirus crisis, the agency said, adding that it expects general government debt to exceed 130% of gross domestic product by 2021.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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From a Teenage Dream to a $38B Blockchain By Cointelegraph


Five Years of Ethereum: From a Teenage Dream to a $38B Blockchain

It would seem that five years is a relatively short time for an information technology company, but has made colossal progress during this time, growing from its own initial coin offering project to the largest blockchain platform, running about 2,000 decentralized applications. Today, the market capitalization of its native cryptocurrency, Ether (ETH), is worth $38 billion — larger than Ford Motor Company and the popular app Snapchat. Not only that, but the value of Ether has seen a 121-fold increase over the period of the network’s existence.

While the whole team is preparing for the transition to the proof-of-stake consensus algorithm ahead of the upcoming Berlin upgrade, Cointelegraph recalls the striking changes that have occurred to the platform over the five years since its launch, and the failures that have only toughened its resolve.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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