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☆ Elizabeth Warren wants more student loan borrowers to know bankruptcy is easier now
▼ + stars: | 2024-05-23 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

Julia Nikhinson | ReutersDischarging student debt in bankruptcy is now easierThe new guidance has already led to changes. In the first 10 months of the Biden administration's more lenient process, student borrowers filed more than 630 bankruptcy cases, a "significant increase" from recent years, it reported last year. Many borrowers are 'not aware' of changesYet Warren says more work still needs to be done. "More than 43 million borrowers in the United States carry a total of $1.6 trillion in student loan debt, and more than 2 million borrowers have been repaying those loans for at least 20 years," Warren and Whitehouse wrote. "DOJ and ED must work harder to encourage borrowers to seek relief — and deliver on that relief when requested," they added.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, I've, Neu, Warren, Whitehouse Organizations: Intelligence, U.S, Capitol, CNBC, DOJ, The, of Justice and Education Department Locations: Washington, Seattle, United States

☆ Tesla's Berlin plant halts production after suspected arson attack at nearby substation
▼ + stars: | 2024-03-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Tesla' logo is seen on the Tesla factory building in Berlin, Germany on February 22, 2024. A Tesla plant outside of Berlin was reportedly forced to halt production Tuesday after an electricity substation was set alight in a suspected arson attack. The Gruenheide factory, located southeast of the German capital, was left without power, as were parts of wider city, Reuters cited German newspaper Berliner Zeitung as saying. It comes as Tesla's expansion plans for its Gruenheide plant have come up against fierce opposition. However, last month locals voted down plans to raze nearby trees to make way for the enlarged plant.

Persons: Tesla Organizations: Berliner Zeitung, CNBC, CNBC . Police, Reuters Locations: Berlin, Germany, Grunheide, Europe, Neu Zittau, U.S

☆ India's Tata Group mulls $1 bln infusion into super-app venture - Bloomberg News
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur/File photo Acquire Licensing RightsBENGALURU, Oct 19 (Reuters) - India's Tata Group is considering a $1 billion capital infusion into its super app Tata Neu to improve its digital business, Bloomberg News reported on Thursday, citing people familiar with the matter. Tata may provide the capital in 2024, the report said, adding talks are ongoing and details of the deal could change. A super app combines multiple services onto one platform. Tata Neu was launched in April 2022 and offers products ranging from apparel to airline tickets, and aims to compete with a fast-growing market dominated by Amazon.com (AMZN.O) and Walmart's (WMT.N) Flipkart.

Persons: Vijay Mathur, Tata Neu, Ashna Teresa Britto, Sonia Cheema Organizations: Tata Group, Confederation of Indian Industry, REUTERS, Rights, India's Tata Group, Bloomberg, Tata, Reuters, Amazon.com, Thomson Locations: New Delhi

☆ Our bodies, buildings, and computers give off a lot of waste heat. Cities and scientists are learning to harness it for energy.
▼ + stars: | 2023-07-14 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Green pipes in the Neighbourhood Energy Utility energy center divert sewage to heat pumps. Data centers can heat homes tooAcross the ocean, Stockholm is tapping into a major heat source: data centers. They found that in about 25% of those places there was enough heat underground to recycle for energy. Benz says it's worth considering adding those underground pipes as part of new construction, especially building new streets, which absorb extra heat. Of course, underground heat builds up the most in summer, when people don't need to heat their homes.

Persons: Derek Pope, Pope, Johanna Nerell, Nerell, Yui Mok, Susanne Benz, Benz Organizations: Green Tech, Service, US Environmental Protection Agency, EPA, City of, Winter, City Council, Stockholm, Nature Communications, Reuters Locations: Europe, Canada, Glasgow, London, Vancouver, City, City of Vancouver, Vancouver , British Columbia, Stockholm, Mongolia, Islington

☆ British workers keep getting pay raises — despite the Bank of England urging them not to ask for more money
▼ + stars: | 2023-07-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. Much of the increase in pay has been driven by the private sector, with annual wage growth increasing to 7.6% in the three months to April. However, Bank of England Governor Bailey noted in his Mansion House speech on Monday that the British economy has proven unexpectedly resilient. Last summer saw a slew of strikes and protests as real wages, which reflect the power of a worker's pay after accounting for inflation, declined at a record rate. "No question about it, current nominal wage growth remains far too high relative to the sustainable rate of probably around 3.5-4.0% yoy.

Persons: Mark Kerrison, Andrew Bailey, Jeremy Hunt, Stuart Cole, BoE, Rishi Sunak, Danni Hewson, AJ Bell, Bank of England Governor Bailey, Sanjay Raja, Raja, Equiti's Cole, Bailey, Kallum Pickering, Pickering Organizations: National Education Union, Department for Education, Getty, LONDON, Bank of England, National Statistics, . Finance, City of, Equiti, Monetary, Deutsche Bank, MPC, Treasury, Bank, The, England's Locations: London, United Kingdom, City, City of London, Ukraine

☆ Teachers in England to strike for two more days in July
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 17 (Reuters) - Teachers in England will strike on July 5 and July 7, the National Education Union (NEU) said on Saturday, staging further industrial action over a pay and funding dispute with the government. The new dates announced by Britain's largest education union come on top of at least six days of walk-outs by teachers in England from February to May. Teachers rejected a government pay offer for an average rise of 4.5% plus a 1,000 pound one-off payment in April. While teachers in Wales and Scotland have settled their dispute, the NEU said Britain's Education Minister Gillian Keegan was not doing enough to stop further industrial action in England. Workers in healthcare, transport, the civil service and other sectors have gone on strike over the past year across Britain in pay disputes as inflation reached 40-year-highs.

Persons: Gillian Keegan, Sarah Young, Andrew Heavens Organizations: National Education Union, Britain's, Teachers, Education, Workers, Thomson Locations: England, Wales, Scotland, Britain

☆ A student-loan borrower just got $78,000 in debt wiped out in court after 3 decades of repayment following Biden's new bankruptcy guidance
▼ + stars: | 2023-04-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Zena Dodson, a borrower with $78,000 in student debt, just got her loans discharged via bankruptcy. The relief follows new Education and Justice Department reforms to the bankruptcy process last year. But Biden's Education and Justice Department guidance last year streamlined the process for student-loan borrowers to receive relief through bankruptcy, which helped get Dodson her relief. "For too long, the federal government was fighting borrowers in bankruptcy court based on overly-stringent guidance," Ament said. "We're hopeful these new policies give more student loan borrowers like Ms. Dodson a chance at a financial fresh start."

☆ Teachers in England reject pay offer, announce further strikes
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 3 (Reuters) - Teachers in England have overwhelmingly rejected a pay offer from the British government aimed at ending a series of disruptive strikes, their trade union said on Monday, announcing two further days of walkouts. The National Education Union, Britain's largest education union, said 98% of teachers who voted in the ballot followed its advice to reject the offer of a one-off payment this year of 1,000 pounds and an average pay rise of 4.5% in the next financial year. The union said teachers would take two further days of strike action, on April 27 and May 2. Teachers in Wales have ended their strike action after voting to accept a pay offer comprising an additional 3% pay award for 2022/23 alongside a 1.5% one-off payment, and a government-funded 5% rise for the following year. Scotland's largest teaching union has also accepted a pay deal to end long-running strikes, which it said would amount to a 14.6% increase in pay for most teachers by January 2024.

☆ India's Tata Group mulls pumping $2 bln into super app venture -Bloomberg News
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, March 23 (Reuters) - Indian salt-to-software conglomerate Tata Group is considering injecting another $2 billion into its super app venture to bolster its digital business, Bloomberg News reported on Thursday, citing people familiar with the matter. Tata Group has also asked Tata Digital to look for ways to boost the valuation of the super app, according to the report. A Tata Group spokesperson and Tata Digital declined to comment on the report. Tata launched the e-commerce super app in April last year, offering everything from apparel to air tickets in a renewed push for a slice of a fast-growing market dominated by Amazon.com (AMZN.O) and Walmart's (WMT.N) Flipkart. Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza and Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ UK govt, teaching unions to start 'intensive' talks to end strikes
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 17 (Reuters) - The British government and teaching unions agreed on Friday to begin "intensive" talks to end strikes by hundreds of thousands of teachers in England who say they are overburdened and underpaid. The government and teaching unions said the National Education Union (NEU) — the largest striking union — would maintain a "period of calm" for two weeks in which no fresh strikes would be announced. "The Education Secretary and all unions will meet (on Friday), beginning intensive talks, which will continue over the weekend," the government and the unions said in a joint statement, adding that they hoped to reach "a successful conclusion". Teachers staged their latest strikes across England this week, coinciding with the government's annual budget. Scotland's largest teaching union has also accepted a pay deal to end long-running strikes, which it said would amount to a 14.6% increase in pay for most teachers by January 2024.

☆ U.S. FDA approves Acadia's Rett syndrome drug
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

The approval comes months after the FDA declined to approve expanded use of Acadia's drug Nuplazid to treat psychosis related to Alzheimer's disease. Acadia said it plans to make the drug available to patients by the end of April. He forecast peak U.S. trofinetide sales of $487.2 million by 2035. After the FDA declined to approve the expanded use of Nuplazid, Acadia said it would not pursue that indication for Nuplazid further. Improvement of symptoms was measured according to the assessment scales Rett Syndrome Behaviour Questionnaire and the Clinical Global Impression of Improvement.

☆ U.S. FDA approves Acadia's genetic Rett syndrome drug
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +3 min

March 10 (Reuters) - The U.S. Food and Drug Administration approved Acadia Pharmaceuticals Inc's (ACAD.O) drug for the treatment of Rett syndrome, a genetic brain disorder, the company said on Friday, making it the first approved drug for the condition. The approval comes months after the FDA declined to approve expanded use of Acadia's drug Nuplazid to treat psychosis related to Alzheimer's disease. Acadia said it plans to make the drug available to patients by the end of April. He forecast peak U.S. trofinetide sales of $487.2 million by 2035. Improvement of symptoms was measured according to the assessment scales Rett Syndrome Behaviour Questionnaire and the Clinical Global Impression of Improvement.

☆ Britain hit by biggest strike in more than a decade with schools shut and rail networks disrupted
▼ + stars: | 2023-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Such widespread strike action has not taken place since a dispute over public sector pay in 2011, when more than a million workers are estimated to have taken industrial action. watch nowDemands vary by union but include inflation-beating pay rises, including to redress historic real-terms pay falls; pensions reform; and no cuts in redundancy terms. Postal workers have also been on strike, and firefighters have voted for future strike action. Average pay excluding bonuses rose by 2.7% in the public sector between August and October, as inflation rose above 10%. That compared with a 6.9% pay increase in the private sector, according to national statistics.

☆ Britain hit by biggest day of strikes in a decade as pay disputes escalate
▼ + stars: | 2023-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The bill would require basic service levels to be maintained in the fire, ambulance and rail sectors in the event of walkouts. Strikes will affect around 23,400 schools, about 85%, in England and Wales, with many closed fully or partially. According to the union, pay for experienced teachers has declined by 23% since 2010 once inflation is taken into account. In a sign that industrial unrest could escalate further, UK firefighters have voted to strike for the first time since 2003. The Fire Brigades Union has given the government until February 9 to make an improved pay offer.

The National Education Union (NEU), which is organising the teachers' strikes, has asked for an above-inflation pay award funded fully by the government, so that schools can also cover other costs, from stationery to textbooks. With inflation reaching double digits last year, teachers have seen a 23% real-terms pay cut since 2010, the union says. Heighington, who teaches music, said more than a third of experienced full-time teachers and teaching staff had left his school last year. Educators say schools having to pay teachers' salaries from their own pocket has left classrooms starved of money for textbooks, IT upgrades and school trips. Reports say teachers at the elite Winchester College in southern England, where Sunak attended school and was a head boy, are among those striking on Wednesday.

☆ Factbox: Britain on strike: Which workers are walking out on Feb. 1 and Feb. 6?
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

Healthcare workers are also taking coordinated action on Feb. 6 for the first time, in what is set to be the biggest day of action in Britain's state-funded National Health Service. TEACHERSTeachers from the National Education Union in England and Wales will take the first of several days of strike action, impacting 23,400 schools. GOVERNMENT STAFFMore than 100,000 workers from the PCS union in government departments and public bodies will take part in a one-day strike. The GMB said more than 10,000 ambulance workers in England and Wales, including paramedics, emergency care assistants and call handlers, will strike on Feb. 6, Feb. 20, March 6 and March 20. Unite said ambulance workers in England would walk out on Feb. 6, Feb. 17, Feb. 20, Feb. 22, Mar.

☆ Black leaders on Buffalo’s East Side are building markets to address food insecurity
▼ + stars: | 2022-12-01 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Claretta-Bellamy-Byline-Jm.Jpg | Claretta Bellamy | ) www.nbcnews.com time to read: +8 min

The only supermarket on the East Side is Tops, where a white gunman killed 10 Black residents in May. AHRIE / African Heritage Food Co-op“It’s about gainful employment,” Wright, 43, said in October of his future grocery store. African Heritage Food Co-Op“That’s why I don’t call this a food desert,” Wright said. One organization, the Buffalo Black Billion, is led by a local pastor, Michael Chapman of St. John and Gethsemane Missionary Baptist churches. African Heritage Food Co-OpBy providing healthy food, Chapman said he also wants to increase the lifespan of Black residents in the community, for whom health disparities are all too familiar.

☆ CFOs Boost Currency Protections, Extend Hedge Contracts as Strong Dollar Takes Toll
▼ + stars: | 2022-11-07 | by ( Nina Trentmann | ) www.wsj.com time to read: +6 min

Changes to companies’ hedge contracts include covering larger amounts of earnings as well as longer durations beyond the usual 18 to 24 months. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. There are growing indicators of the impact of the strengthening dollar on companies’ results and stocks, according to Goldman Sachs Group Inc. Many companies have hedges in place to protect cash flows, earnings and balance sheets from currency fluctuations, said Mr. Neu. Prologis Inc., a San Francisco-based operator of warehouses, is working to extend its hedges, CFO Tim Arndt said.

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