struggling | Common News Update

Sep32020 by adminNo Comments

Washington lawmakers must agree on this issue before more stimulus money reaches struggling Americans

Finance

Carlos Ponce joins others at a July 16 demonstration in Miami Springs, Florida, asking senators to support the continuation of unemployment benefits.Joe Raedle | Getty ImagesBoth Republicans and Democrats want to come up with new stimulus legislation to boost a U.S. economy ailing from the coronavirus pandemic.But both sides are at odds over how much the price tag for that relief should be, leaving millions of Americans waiting for more financial aid.The stalemate comes down largely to a couple of sticking points.More from Personal Finance:Sept. 1 is the first day of the payroll tax holidayFive key things workers should know about the payroll tax deferralHow the CARES Act failed to protect tenants from eviction"Probably the biggest stumbling block that remains is the amount of money that w...

Jun272020 by adminNo Comments

They were struggling to repay their student loans before the pandemic. Now it’ll get worse

Finance

Sam SeagravesSource: Sam SeagravesAlmost all of the money Sam Seagraves used to make as an actor in Portland, Oregon, went toward her monthly student loan bill of $ 1,083. Then the coronavirus pandemic hit.With many production companies postponing or cancelling operations, Seagraves hasn't been hired for a role since March. The CARES Act granted people with federal student loans a break from their payments until the end of September, but Seagraves has had to dig into her small savings to continue paying her monthly private student loan bill of $ 700. "I have enough saved to pay the private student loans through August; I'm not entirely sure how I'm going to pay them after that," Seagraves, 30, said. She owes around $ 75,000 nearly a decade after graduating fr...

Apr112020 by adminNo Comments

Cities struggling to boost urban tree cover

Science

Many cities around the globe are struggling to reconcile ambitious environmental targets with development pressures, a study has suggested.Scientists in Melbourne recorded a net gain in street tree cover but a net loss in parks and private land.The Australian team says measures to protect mature trees are "critical" if the urban forest's cover is to be enhanced in the future.The findings appear in the Sustainable Cities and Society journal.Globally, the role of trees in towns and cities are well recognised, such as providing shade during hot summer months, and helping to absorb noise pollution and floodwater.The team of researchers in Australia examined the plight of trees in the city of Melbourne in the decade between 2008 and 2...

Apr92020 by adminNo Comments

Growth figures show UK economy struggling before virus lockdown

Business

The UK economy grew 0.1% overall in the three months to February - a worrying picture of the situation before the coronavirus lockdown.GDP figures from the Office for National Statistics also show the economy contracted 0.1% during February, following gains in December and January. The figures will be concerning as they show the economy was already struggling ahead of the restrictions put in place to limit the spread of COVID-19, the illness caused by the coronavirus. The measures were implemented in mid-March and included the closure of non-essential businesses and people being told to stay home aside from a few exceptions.This has left many businesses and workers struggling, and economists are forecasting a severe recession. ...

Apr22020 by adminNo Comments

Coronavirus: Interest-free overdraft plan for struggling borrowers

Business

People struggling financially amid the coronavirus pandemic should not be charged interest on the first £500 of existing overdrafts for 90 days, the UK's financial watchdog has proposed.The Financial Conduct Authority (FCA) also suggested repayments on loans and credit cards should be frozen for up to three months for those in trouble.The FCA said the outbreak had caused an “unprecedented financial shock”.Experts suggest that support from banks at present is "patchy".Quick changeIn a timeframe reserved for emergency measures, the City watchdog is asking banks to respond to its proposed measures by Monday 6 April, and it wants them to come into force by Thursday 9 April.After the FCA recently announced an "overhaul" for overdraft ...