Category: Business
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Banks to hugely profit as ‘bad’ loans become ‘good’
Banks are starting to move billions of dollars worth of “bad” loans back into the “good” pile where they can now be considered part of their profits. The money had been temporarily placed there due to the pandemic, as a reserve in case loans went bad. The Associated Press has the story: Banks’ money in…
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Huge ride-hailing company Grab merges with U.S. company
Grab Holdings, the largest ride-hailing company in Southeast Asia, is merging with U.S.-based Altimeter Growth Capital in order to go public faster. The latter company is already trading on the stock exchange, and the merger will allow Grab to essentially take its place. This is known as an SPAC merger, where one company uses the…
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Stock market increases follow March jobs hike
As the economy improves, stocks are following right along. Monday was a good day for the stock market as gains followed the news on Friday of increases in the job industry. The Associated Press has the story: Economy recovering, stocks rising (AP) Stocks rose broadly on Wall Street in afternoon trading Monday as investors welcomed…
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Corporations gave millions to reps pushing voting restrictions
Some major corporations spoke out against Georgia’s new restrictive voting law last week. But at the same time, they have contributed over $50 million to some of those legislators involved. The Associated Press has the story: Corporations critical of Georgia’s new voting law contributed millions to the legislators who supported it WASHINGTON (AP) — When executives…
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Biden’s new $100b broadband plan explained
President Joe Biden has proposed a $2.3 trillion infrastructure plan that will include $100 billion for broadband. Republicans are critical of the move, saying it will raise taxes, while Democrats have proposed similar initiatives of their own. The Associated Press has the story: Biden’s pricey broadband proposal attempts to lower the cost of internet service…
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March increase in hiring the most since August
Employment continues to bounce back from the severe dip it took due to the coronavirus pandemic. Although the economy remains more than 8 million jobs short of the number it had before the pandemic erupted a little over a year ago, the pace of hiring continues to increase. The Associated Press has the story: Employers…