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He was 4 months behind on his rent. Why his landlord never mentioned eviction

Finance
Victor Washington fell behind on his rent during the pandemic. He and his landlord, Andrea Sorum, joined forces to keep him in his home.Source: Andrea SorumAt one point in the pandemic, Victor Washington was nearly four months behind on his rent.The problems began soon after he moved into the one-bedroom condo in South Minneapolis in October of 2020. Out of nowhere, a blood clot formed in his right leg and he needed a procedure. At the middle school where he worked as a custodian, he used up all of his paid vacation and sick time to heal.Then, in December, he got Covid. Washington's breathing became so bad, he landed in the hospital. He spent eight days there. He missed more work, this time without pay.Washington had to call his landlord, Andrea Sorum, and tell her that he wasn't going to ...
Deliveroo boss Will Shu: ‘I was never into start-ups’

Deliveroo boss Will Shu: ‘I was never into start-ups’

Business
Getty Images"I never set out to be a founder or a CEO. I was never into start-ups," says Will Shu, founder of food delivery chain, Deliveroo.His comments came as the firm set out plans to issue shares to the public which could value it at about £7bn.Deliveroo has not yet made a profit and it reported a £223.7m loss for last year, despite a surge in sales.The float will see the busiest riders share in a £16m fund, and customers will also get the chance to buy shares. Deliveroo is making £50m worth of shares available to customers who will be given the opportunity to buy up to £1,000 worth of shares each, although if demand if high they may see their orders scaled back.Mr Shu's letter, contained in the official notice of the intention to float, also says: "I'm not one of those Silicon Valle...

Democrats want to send more unemployment benefits. Some workers never got the last round

Finance
Volunteers load shopping bags with food assistance for laid off workers at a food distribution event on Dec. 12, 2020 in Orlando, Florida.Paul Hennessy/NurPhoto via Getty ImagesDemocrats are poised to send more unemployment benefits to laid-off workers. Meanwhile, some workers are still waiting on the last tranche, authorized months ago.A $ 900 billion Covid relief bill signed Dec. 27 extended jobless benefits to March 14 and raised them by $ 300 a week.In Wisconsin, officials estimate self-employed and gig workers won't get that extra aid until at least April 21 — almost four months later.Zoom In IconArrows pointing outwardsOther workers who had exhausted their state benefits just began receiving the extended aid on Thursday, according to Wisconsin's Department of Workforce Development....
Cladding rules: ‘I would never have bought my flat if I knew’

Cladding rules: ‘I would never have bought my flat if I knew’

Business
NHS worker Holly Ciesielczuk bought 75% of her first-floor flat in Redbridge in March 2019, under shared ownership.But when she tried to borrow more money to increase her share of ownership a year later, she hit a stumbling block.Following their initial survey, her mortgage lender requested an EWS1 form - an external wall safety certificate for the building, which can be obtained following checks.These were first developed to assess the potential financial impact of cladding on high-rise flats, after 72 people died at Grenfell Tower. To begin with, only those who owned flats in tall buildings with dangerous flammable cladding were affected. But after the government extended its advice to smaller properties in January 2020, mortgage lenders began demanding fire surveys from a much wider ran...
Coronavirus: Barclays says loans worth £4.8bn may never be repaid

Coronavirus: Barclays says loans worth £4.8bn may never be repaid

Business
Getty ImagesBarclays has reported a big drop in annual profits, having set aside billions of pounds for loans expected to turn sour due to the pandemic.The bank reported a 30% fall in pre-tax profits to £3.1bn for 2020, down from £4.3bn in 2019.It was forced to set aside £4.8bn to cover loans unlikely to be paid back amid the economic fallout of Covid.Despite that the bank announced it would resume dividends, with a payment of 1p per share to shareholders.'Resilient and diversified'The bank has been one of the biggest providers of emergency loans during the coronavirus crisis, having given some £27bn worth to businesses.It has also provided more than 680,000 payment holidays globally for customers with mortgages, credit cards and loans.Barclays warned that pandemic-related costs would rema...