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New employee perk: $100 a month for your student loans

New employee perk: $100 a month for your student loans

Finance
How to talk to your kid about paying for collegeElaine Florentino landed a job as an accountant as soon as she graduated college, but she still worries about paying off her student debt. Luckily her employer, PwC, is offering some help. The auditing firm was one of the first companies to give employees some extra cash -- on top of their salary -- that goes directly toward their student loan bills. PwC launched its Student Loan Paydown benefit in January 2016, just a few months after Florentino started her job. Eligible workers receive $ 100 a month for up to six years. She borrowed about $ 57,000 to get her Bachelor's and Master's degrees at Bentley University, a private school in Massachusetts. About 20% of her take-home pay goes to her student loans. "When I got my salary, I thought i...
When the revolution eats itself

When the revolution eats itself

Finance
WHEN a revolution happens, the consequences are not obvious straight away. The British referendum on EU membership in June 2016 was seen as a revolt of ordinary people against a globalised elite. The politicians who led the Leave campaign did not seem to expect to win. As wags remarked, they were like “the dog that caught the car”.This helps to explain the general chaos that has enveloped British policy since the result. The Leave campaign had contained two contradictions. The first was that Britain could have all the advantages of EU membership without the bother of actually belonging; the country could “have its cake and eat it” as Boris Johnson, Leave campaigner and now foreign secretary put it. The second was the split between the free market, Liberal brexiteers, who envisaged Britain
Old private Southern banks like Federal, Lakshmi Vilas Bank set for better times

Old private Southern banks like Federal, Lakshmi Vilas Bank set for better times

Finance
The South-based mid-sized private sector lenders are poised to see accelerated earnings growth going ahead as their asset quality ratios have peaked out and loan growth is likely to revive after remaining muted over the past couple of years, said a report today.Also, the niche positioning in their respective home markets will help banks like Federal Bank, Lakshmi Vilas Bank (LVB), South Indian Bank, City Union Bank and Karur Vysya Bank to grow faster, said the report by ICICI Securities."We prefer banks with superior earnings growth, sustainable NIMs, stable asset quality, granular loan mix and adequate capital. We expect these five banks to witness a loan CAGR of 11-22 per cent and earnings CAGR of 12-25 per cent over the next two years," it said.The brokerage says these banks' expertise ...
European Stocks Edge Lower as Rising UK Inflation Raises Prospects of Rate Hike in Britain

European Stocks Edge Lower as Rising UK Inflation Raises Prospects of Rate Hike in Britain

Finance
Shutterstock photoEuropean equity benchmarks were struggling for direction on Tuesday morning after a jump in the UK's inflation rate prompted speculation that the Bank of England may raise interest rates at its next meeting in November and as car-manufacturers shifted into reverse.Britain's consumer price index ( CPI ) posted annual growth of 3% in September, up from 2.9% in August, according to data published by the Office for National Statistics. The increase in consumer prices is broadly expected to influence discussions at the Bank of England ahead of of its next monetary policy decision. Rising inflation, which has been a key theme since Britain's surprise referendum decision to leave the European Union (EU) last June, is generally expected to heighten the probability of a rate hike...
Economic optimism drives stockmarket highs

Economic optimism drives stockmarket highs

Finance
BARELY a day goes by at the moment without Wall Street hitting a new record high. The market has kept marching upwards despite all the headlines about the North Korean nuclear threat, a potential break-up of NAFTA, and natural disasters like hurricanes.If you want to know why the market keeps rising, just look at the latest poll of global fund managers by Bank of America Merrill Lynch. Almost half of all the managers now expect above-trend growth and below-trend inflation, what is dubbed the Goldilocks economy (she wanted porridge that was not too hot, or too cold, but just right). That is the highest proportion recorded in the history of the survey. Indeed, for the last six years, a plurality of managers have taken the view that both inflation and growth would be below trend.A net 41% of ...