Author: Press Room
The Education Department released a memo detailing mistakes it found student-loan servicers are making with repayment.It pushed for the mistakes to be remedied for borrowers to avoid legal action.Earlier this week, the department fined MOHELA for failing to get on-time bills to 2.5 million borrowers. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app President Joe Biden’s Education Department is concerned student-loan borrowers could turn to legal action if issues with their accounts aren’t fully resolved.The Education Department on Wednesday released an internal memo from…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Jaguar Land Rover has raised its profitability expectations for the year after improved Range Rover production and higher prices helped it post a fourth straight quarter of profit and record cash flow. The fourth consecutive quarter of profitability at the company, owned by India’s Tata Motors, puts an end to a tumultuous post-pandemic period that saw the group wrack up heavy losses due to production issues and chip shortages.On Thursday JLR said chip supply was improving, and that it expects production to increase…
© Reuters. By Natalia A. Ramos Miranda SANTIAGO (Reuters) – The increasing specialization of Latin America’s exports to China, focusing on oil and mining, shows a “worrying” trend, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) said in a report on Thursday. The ECLAC warned that as China advances in its efforts toward energy decarbonization, staples from Latin America such as oil could be at risk. Latin America’s trade with China has skyrocketed, growing to nearly $500 billion last year from about $14 billion in 2000, but the boom has been made up of just a…
© Reuters. Furniture retailer Arhaus (NASDAQ:ARHS) reported a 1.94% year-over-year (YoY) increase in Q3 FY2023 revenue, surpassing analysts’ expectations. The company posted revenue of $326.2 million and an earnings per share (EPS) of $0.14, beating the market estimate by 19.1%. Despite facing a gross margin drop from 48.4% to 40.1% YoY and a slight decrease in same-store sales by 2.1%, the firm significantly increased its free cash flow from $532 thousand to $60.1 million YoY. This financial performance reaffirms Arhaus’ robust operational resilience amidst market challenges. In line with market forecasts, Arhaus has maintained its full-year revenue guidance at $1.28…
BlackRock Taxable Municipal Bond Trust declares $0.0929 dividend
FIRST ON FOX: Senate Republican lawmakers are demanding to know what Education Secretary Miguel Cardona is doing to protect Jewish college students against the backdrop of rising antisemitic incidents on university campuses across the country. “Many Jewish and pro-Israel students have felt unsafe in their institutions of higher education, especially following Hamas’ attack on Israel,” Idaho Republican Sens. Jim Risch and Mike Crapo wrote to Cardona.They asked Cardona whether his department was aiding FBI probes and other investigations into antisemitism on college campuses, and how the department was working to ensure Jewish students were protected. LIVE UPDATES: ISRAEL AT WAR WITH HAMAS …
CLNKraneShares Key News Asian investors cheered Powell’s dovish comments, sending risk assets higher except for China while the Philippines was closed for a holiday. The Asia dollar index gained versus the US dollar, though the renminbi/CNY was flat overnight. Bloomberg News is reporting that the US and China will discuss nuclear arms before the Biden-Xi meeting as the strong momentum on the US-China diplomatic front continues. Auto stocks were strong performers following yesterday’s release of October sales data highlighting new energy vehicles (EV and hybrid) sales increased +32% year over year and +7% month to month to 890,000 vehicles. Year…
(Photo by David Butow/Corbis via Getty Images)Corbis via Getty Images College financing is a quagmire right now. Those who are indebted are part of a $1 trillion tab that grows daily. Yet those entering college can still graduate debt free. Every year, a parent asks me about how college financing can work in their favor. I believe that only in rare circumstances should one go deep into debt to finance a degree. Community and commuter colleges are one primary route. Scholarships and grants are another. “The fact is, 1.7 million private scholarships and fellowships are available, estimated at more than…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.BT has warned it could lose more broadband customers than expected this year as competition hots up and consumers tighten their belts.The telecoms group has bet on its networking division Openreach’s rollout of full-fibre broadband across the country as part of a £12bn investment.Philip Jansen, presenting his last set of results as chief executive, said the company suffered losses to rivals who built full fibre to homes first in rural areas. “Some of these copper lines are just not very good, they…
© Reuters. FILE PHOTO: A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo LONDON (Reuters) -The Bank of England held interest rates at a 15-year peak on Thursday, as it kept up its fight against the highest inflation among the world’s big rich economies, and it stressed that it did not expect to cut them any time soon. The Bank Rate was held at 5.25% for the second meeting in a row after 14 back-to-back rate increases and the BoE published forecasts showing the British economy is now skirting…