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Education loan defaults soar 47% on weak job market

Education loan defaults soar 47% on weak job market

Finance
NEW DELHI: A weak job market and wilful default by even those in well-paying jobs have hit the education loan portfolio of state-run banks with non-performing assets soaring by almost 47% between March 2015 and last March, data shared in Parliament showed. On Friday, the finance ministry told the Lok Sabha that NPAs, or bad debt, went up from Rs 3,536 crore at the end of March 2015 to Rs 5,192 crore on March 31, 2017. The surge took place in 2015-16, with the pace slowing down during the last financial year. The problem is so acute for at least five lenders that the stock of bad loans has more than doubled, with UCO Bank and Indian Bank leading the pack. At the same time, the increase in loan flow has also been less than 10% during this two-year period. 'Absence of guarantee...
IPPR proposes creation of ‘shared market’ for UK and EU

IPPR proposes creation of ‘shared market’ for UK and EU

Business
A think tank is proposing a post-Brexit trading deal based on the UK and the EU sharing each other's markets.It would see the UK and EU continuing the regulatory alignment that exists today, and the formation of a new customs union similar to the existing one, the centre-left IPPR said.It would allow tariff-free trade, and the UK to benefit from EU trade deals.IPPR director Tom Kibasi said it "honours the referendum result" while securing Britain's economic interests.The group said that the EU would also benefit from the scale of the UK's economy in future trade negotiations.The group believes that a new shared market model would aim to keep the benefits of single market while allowing divergence from EU rules over timeThe proposal would mean no interruption to the UK's trade with the EU a...
Love Island babe Olivia Attwood back on the market?

Love Island babe Olivia Attwood back on the market?

Entertainment
JAMES RUDLAND/GETTYHOT STUFF: Olivia Attwood is in tip-top shapeSources close to the Love Island babe, 26, say she has split from boyfriend Chris Hughes.A video emerged last week of him flirting with another girl and she reportedly ditched him over it.Olivia skipped the glitzy OK! Magazine Beauty Awards last week because she was so upset.Love Island babe Olivia Attwood Olivia Attwood the Love Island babe's sexiest pictures.NEIL WARNER Olivia Attwood's sexy snaps “She’s fashionable, extremely sexy and funny” SourceBut we reckon she won’t be short of men keen to help put a smile back on her face.As our exclusive snap shows, Olivia is in tip-top shape.And she’ll soon be even hotter because she’s planning a boob job.Earlier this month Olivia
The great rotation into financials has begun — here's why it's a big deal for the market

The great rotation into financials has begun — here's why it's a big deal for the market

Finance
The financial sector's version of the NASDAQ finally climbing over its dot-com bubble high looks like it's about to happen. That's a big deal not just for bank stocks but for the market as a whole.Breakouts are great for investors who are looking for a powerful trend. And the longer it takes for a sector to bottom out — trade in no-man's-land — and finally break out, the more powerful that trend will be.Why? Because everyone who would've, could've and should've exited the sector has already done so. The sellers who were just looking to get back to even are gone.No stock market sector was hit harder than financials during the last recession. Let's recall the names of companies that are no longer around but once were iconic American institutions: Lehman Brothers, Bear Stearns, Wachovia (abso
The bull market is in the 'bottom of the ninth inning,' says a strategist who called the rally

The bull market is in the 'bottom of the ninth inning,' says a strategist who called the rally

Finance
A Wall Street portfolio strategist who urged investors to believe the rally is now predicting the bull market's eventual demise — and it has nothing to do with Washington politics.Joe Zidle, of Richard Bernstein Advisors, is arguing that the bull market has entered the bottom of the ninth inning."This is a late-cycle environment," Zidle said on CNBC's "Futures Now" recently."In innings terms, they're not time dependent. An inning could be shorter or they could be longer. It just really depends," the strategist said. However, that doesn't necessarily mean investors should consider taking cover quite yet."Being in the ninth inning doesn't mean that we're in immediate risk of seeing this bull market rollover or end. We think it could go on still for quite some time just based on the fundament