News That Matters

Tag: Report

Millennials borrowed most for medical expenses, consumer durables in 2019: Report

Millennials borrowed most for medical expenses, consumer durables in 2019: Report

Finance
It is no secret that the millennial generation borrows a lot to fund their lifestyle needs. But what all do they borrow for? According to a report released by CASHe, a digital lending company, in 2019, millennials borrowed the most for medical expenses and to purchase consumer durables. According to the report, emergencies, like unforeseen medical expenses, is the reason why 37% of millennial customers resorted to lending - a sharp increase from 31% last year. Medical expenses were closely followed by loan foreclosure and holidays, the report stated. While 'emergencies' accounted for approximately 57% of the borrowing, 'aspirations' accounted for 43%. The report, 'The 2019 Millennial Loan-o-Nomics', analysed data of an active pool of over four lakh loan applications received from custome...

Libyan authorities report airstrike on military academy

World
Authorities in Libya's capital say an airstrike has slammed into a military academy, killing at least 16 peopleBy SAMY MAGDY Associated PressJanuary 4, 2020, 9:40 PM2 min readCAIRO -- An airstrike slammed into a military academy in Libya’s capital, Tripoli, on Saturday, killing at least 16 people, most of them students, health authorities said. Malek Merset, a spokesman with the Tripoli-based health ministry, told The Associated Press that the airstrike took place in the capital’s Hadaba area, just south of the city center where fighting has been raging for months. He said the strike also wounded at least 37 others, who were taken to nearby hospitals for urgent treatment. Tripoli has been the scene of fighting since April between the self-styled Libyan National Army led by Gen. Khalifa Hi
Popular app ToTok a government spy tool: Report

Popular app ToTok a government spy tool: Report

Technology
The New York Times says a chat app called ToTok is a spying tool used by the government of United Arab Emirates to track users' conversations, locations, images and other dataByThe Associated PressDecember 23, 2019, 8:30 PM3 min readNEW YORK -- A chat app that quickly became popular in the United Arab Emirates for communicating with friends and family is actually a spying tool used by the government to track its users, according to a newspaper report. The government uses ToTok to track conversations, locations, images and other data of those who install the app on their phones, The New York Times reported, citing U.S. officials familiar with a classified intelligence assessment and the newspaper's own investigation. The Emirates has long blocked Apple’s FaceTime, Facebook's WhatsApp and o
Most investors make less returns than their schemes: Axis Mutual Fund report

Most investors make less returns than their schemes: Axis Mutual Fund report

Finance
Most mutual fund investors make lower returns than their mutual fund schemes due to their bad habit of frequently getting in and out of schemes, shows an analysis of Axis Mutual Fund. ‘Analysis of Indian investor behaviour and its impact on performance’ by Axis Mutual Fund looked at the performances across different category of funds, including equity, hybrid and debt funds in the short and the long term. The findings of the report conclude “investor flows are not stable but instead tend to follow market performance and as a result their realised returns are much worse than what they would have achieved by using either simple buy and hold or systematic investment strategies.” The report further adds that the effect is persistent across different time periods and shows that there has been l
Jamie Dimon says he’s ‘disgusted by racism’ and progress is needed at JP Morgan after report

Jamie Dimon says he’s ‘disgusted by racism’ and progress is needed at JP Morgan after report

Finance
J.P. Morgan Chase CEO Jamie Dimon told employees that he's "disgusted by racism and hate in any form" after a New York Times report detailed instances of discrimination at the bank's branches."We must make sure that the culture we aspire to reaches every corner of our company," Dimon said in a memo sent late Friday to employees and obtained by CNBC. "We have done some great work on diversity and inclusion, but it's not enough. We must be absolutely relentless on doing more."Earlier this week, the New York Times reported that a black J.P. Morgan employee and customer experienced racial discrimination by managers at branches in the Phoenix, Arizona area, and had made audio recordings as evidence. In one case, the customer had difficulty attaining private client status despite moving a hundre...