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Cash handouts for self-employed expected as Sunak to reveal new COVID-19 package

Cash handouts for self-employed expected as Sunak to reveal new COVID-19 package

Business
A coronavirus bail-out for the self-employed is being unveiled by the chancellor after pressure from MPs, but handouts could go to only one in three of the five million who work for themselves.Rishi Sunak will announce an emergency package at Boris Johnson's daily Downing Street news conference, promising help for groups such as builders, taxi drivers, hairdressers and childminders. But while he will promise to match the 80% of earnings he promised staff employees last Friday, the monthly cap is likely to be lower than the £2,500 in that coronavirus scheme because many self-employed pay less tax.And it is likely only about 1.7 million, a third of the UK's self-employed, will qualify, with those who have separate earnings as company employees and those on Universal Credit - already promised
Yes Bank depositors rush to ATMs but most unable to withdraw cash

Yes Bank depositors rush to ATMs but most unable to withdraw cash

Finance
MUMBAI: Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well. At an ATM in south Mumbai's Horniman Circle, with the RBI headquarters overlooking it, the shutters were pulled down. The guard on duty said the machine was non-operational before he reported to work late in the evening and he was ordered to shut it after 2200 hrs. In the residential area of suburban Chembur, one ATM was dispensing cash but had a long queue of anxious dep...
BP oil spill cash rebuilds eroded Louisiana pelican island

BP oil spill cash rebuilds eroded Louisiana pelican island

Technology
QUEEN BESS ISLAND, La. -- A Louisiana island that provides a crucial nesting ground for pelicans and other seabirds is being restored to nearly its former size after decades of coastal erosion and a devastating offshore oil spill 10 years ago. Gov. John Bel Edwards visited the island Monday, unveiling a sign dedicating it as a wildlife refuge. “The walk we just made wouldn't have been possible a few weeks ago,” the governor said after crossing an expanse of sand bearing tread marks from heavy equipment used to create and grade new land. He spoke at a podium set up before waist-high mangroves, which contractors left untouched for pelicans to nest on. About 6,500 brown pelicans and 3,000 smaller seabirds cram their nests every summer onto Queen Bess Island, which shrank from 45 acres (18 h
You can soon deposit cash at any ATM

You can soon deposit cash at any ATM

Finance
Mumbai: After making payments interoperable between banks with its Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) is pushing top banks to make cash deposit too an interoperable feature at their ATMs and branches. NPCI believes that an interoperable cash-deposit system enabled through its National Financial Switch (NFS), initially developed by Institute for Development & Research in Banking Technology (IDBRT), could help reduce the cost of currency handling for the entire banking system, said four people aware of the matter. This will also help ATM operators reduce the costs to replenish cash at ATMs, as the currencies deposited through the machines can be “recycled” for withdrawals as well. “All major private and public-sector banks have been asked
China’s corporate borrowing soars and cash flows deteriorate, independent survey shows

China’s corporate borrowing soars and cash flows deteriorate, independent survey shows

Finance
Jiangsu Pilot Free Trade Zone Lianyungang Area on November 28, 2019 in Jiangsu Province of China.Wang Chun | VCG | Getty ImagesChina's fourth-quarter economic growth may have been "the weakest of 2019" — but it still showed an improvement compared to the previous quarter and to the same period a year ago, a business survey released on Thursday showed.Manufacturing and services saw the strongest revenue improvement compared to the the previous quarter, though profit was "muted," according to research firm China Beige Book's quarterly review of the world's second-largest economy, which was based on a survey of more than 3,300 Chinese businesses.Three important results emerged from the survey.First, there are signs that cash flows have deteriorated quickly. "It is easy to discount a seemingly