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This company is helping pay down its employees’ student debt. ‘They are creating value for us’

This company is helping pay down its employees’ student debt. ‘They are creating value for us’

Finance
Chegg has a new plan to help its employees deal with their student loans.And its CEO wants other companies to follow Chegg's lead.The student-connected learning platform announced a new program Thursday that will give its entry- through manager-level workers up to $ 5,000 a year, if they have been with the company at least two years. Director- or vice president-level employees can get up to $ 3,000 annually to help pay down their student loan debt. "Corporations need to play a role here," Chegg CEO Dan Rosensweig told CNBC's "Closing Bell " on Thursday. "We are the beneficiaries of those people who have gotten an education — doesn't matter if it is four year or two year or even if they completed it," he added. "If they borrowed money and they are creating value for us, we want to help the
This company wants to help shave $6,200 off your student loans

This company wants to help shave $6,200 off your student loans

Finance
Dan Kitwood | Getty ImagesWhen Michael Bloch's wife graduated from law school with more than $ 300,000 in student loans, the couple sat down to come up with a plan.After reading blogs and articles, drafting spreadsheets and consulting a financial advisor, they still didn't have an answer. "We really struggled with what is the right way to pay those loans back," Bloch said. "We found that there is no easy way to figure out what is the right thing for an individual to do."The dilemma inspired Bloch to drop out of Stanford Business School, where he would have racked up another $ 250,000 in student loans, to help others who are confronting the same problem.About 44.7 million Americans had student loan debt, which totaled $ 1.47 trillion, at the end of 2018, according to the Federal Reserve Ban...
Uber float values company at $82bn

Uber float values company at $82bn

Business
Uber has set a price for floating its shares on the New York Stock Exchange, in what is expected to be one of the biggest stock market flotations of the year. The ride-hailing taxi app firm has priced its shares at $ 45 (£35). The deal values Uber at $ 82bn (£63bn).The price is near the bottom of the expected $ 44-$ 50 range - a sign that investors are cautious about the firm.Uber hopes to sell 180 million shares when trading starts on Friday.This is the highest profile US flotation since Facebook seven years ago, analysts say.Rival Lyft's flotation was priced at $ 72 per share when it listed on the New York Stock Exchange in April, but its share price has fallen by as much as a third since then.Uber is keen to avoid a similar fate, but the firm has so fa
Company faked NASA tests and ruined missions worth $700m

Company faked NASA tests and ruined missions worth $700m

Technology
A company which manufactured aluminium components for NASA faked test results over 19 years, leading to the destruction of two space missions worth $ 700m (£536m).A NASA investigation into the root cause for two failed launches in 2009 and 2011 discovered that materials produced by Sapa Profiles Inc (SPI) were faulty. SPI was found to have falsified thousands of certifications for aluminium extrusions for hundreds of customers in a 19-year scheme.The company is a unit of Norsk Hydro, one of the world's largest suppliers of aluminium. Norsk agreed to pay $ 46m back to NASA for the failures, less than 7% of the damage it caused.The two launches, one of NASA's Orbiting Carbon Observatory (OCO) and another for a satellite called Glory which would have observed aerosol pollution, failed within
Lawsuits ramp up pressure on family that owns opioid company

Lawsuits ramp up pressure on family that owns opioid company

Health
The legal pressure on the prominent family behind the company that makes OxyContin, the prescription painkiller that helped fuel the nation's opioid epidemic, is likely to get more intense. The Sackler family came under heavy scrutiny this week when a legal filing in a Massachusetts case asserted that family members and company executives sought to push prescriptions of the drug and downplay its risks. Those revelations are likely to be a preview of the claims in a series of expanding legal challenges. Members of the family that controls Connecticut-based Purdue Pharma are also defendants in a lawsuit brought by New York's Suffolk County. Few, if any, other governments have sued the family so far. But Paul Hanly, a lawyer representing the county, said he expects to add the Sacklers to ot...