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Lichens are much younger than scientists thought

Lichens are much younger than scientists thought

Science
Nov. 15 (UPI) -- Long thought to be some of the first living organisms to colonize land, new research suggests lichens aren't nearly as old as scientists thought. Lichens are composite organisms formed by symbiotic relationships between algae or cyanobacteria and different fungi species. Because they can grow on rocks, scientists originally hypothesized that lichens were some of the first life forms to make the transition from sea to shore, paving the way for modern plants. New genetic analysis suggests lichens actually evolved millions of years after plants. Scientists published the results of their DNA analysis this week in the journal Geobiology. "When we look at modern ecosystems, and we see a bare surface like a rock, oftentimes lichens are the first thing to grow there, and eventua...
My 21-year-old sister is saving $200 a month for retirement. Here’s how much she’ll have at 65

My 21-year-old sister is saving $200 a month for retirement. Here’s how much she’ll have at 65

Finance
My 21-year-old sister, Janna McPartland, has a lot on her mind.Graduating from college. Finding a job. Dire predictions about global warming. The other day, I asked her how she was doing. "The planet is dying," she said.I was surprised, then, when she showed eagerness recently in starting to save for her retirement. I'd been nagging her to do that since I was hired as a personal finance writer at CNBC. My reporting has taught me a simple but powerful lesson: The earlier one starts saving, the easier it is to do.It's not just my professional experience that made me a nag. I've seen my mother, now in her late 60s, suffer the consequences of not saving. It's a painful reality. I don't want to see anyone else I love go through it.Janna McPartlandSource: Janna McPartlandAs a senior in college, ...
Here’s how much financial advisors should invest in alternatives to make a difference

Here’s how much financial advisors should invest in alternatives to make a difference

Finance
Oliver Furrer | Cultura | Getty ImagesYou don't have to be a hedge fund guru to discuss alternative investments with your clients, yet it doesn't hurt to get educated.It's no secret that portfolio diversification protects investors from the whims of the stock market, blunting the volatility you get in equities by including an allocation toward fixed income.Unfortunately, bonds and equities don't always move in different directions.Investors in target-date retirement funds learned that the hard way in 2008, when some portfolios held risky high-yield bonds in their fixed income allocations and experienced massive losses.That's where alternative investments — primarily liquid alternatives — enter the mix."The primary role of liquid alternatives in a portfolio is to provide an opportunity to d
Essel releases 50% outstanding dues to MFs: Who got how much?

Essel releases 50% outstanding dues to MFs: Who got how much?

Finance
Subhash Chandra’s Essel Group has repaid around 40-60 per cent of its outstanding debt to the mutual fund houses, according to one of the fund houses that have outstanding debt to the group. The mutual fund industry had a total exposure of around Rs 6,600 crore to Essel Group. Last month, the group had raised Rs 4,200 crore by selling an 11 per cent stake in Zee Entertainment to global fund Invesco Oppenheimer. According to sources, the group has repaid around 50 per cent, or Rs 580 crore, of the total outstanding amount to HDFC Mutual Fund, and 45 per cent, or Rs 760 crore of the outstanding amount, to Aditya Birla Sun Life Mutual Fund. It had also released nearly 60 per cent of outstanding amount to ICICI Prudential Mutual Fund and 52 per cent of the dues to Kotak Mutual Fund. ICICI Prud