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☆ Tough road ahead for U.S. fintech lenders as default risk rises
▼ + stars: | 2023-01-13 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

During the pandemic, many fintech startups emerged as lenders to borrowers with imperfect credit. Using artificial intelligence, their screening tools were more likely to recommend these loan requests than traditional lenders'. The lenders' ABS were among bonds that raised $36 billion in 2021 and 2022 by pooling consumer and marketplace loans, according to FinSight data. The losses on subprime loans that are assumed to be uncollectible debt or charge-offs rose on average by some 20% by the third quarter of 2022 from 2019 levels, said Moody's. But the lenders' securities have not lost investor appeal as yet, said Theresa O’Neill, ABS strategist at BofA Securities.

☆ With Manhattan Rents Rising, She Fled to Queens With a $200,000 Budget
▼ + stars: | 2023-01-05 | by ( Debra Kamin | ) www.nytimes.com time to read: +2 min

When her landlord raised her rent by $200 last February, Theresa Handwerk saw the writing on the wall. Ms. Handwerk, 51, had been paying $1,450 a month — “pandemic rent,” she called it — for a studio on the East Side of Manhattan. “I knew there was no way I would be able to stay in New York if I didn’t buy,” she said. If she was going to buy, she wanted a more reasonable commute that didn’t involve relying on the Long Island Rail Road or Metro-North. “As a lifelong single woman, the financial and social inequalities compared to married couples are glaring,” Ms. Handwerk said.

When Tioni Theus woke up, most mornings, the first thing she did was turn on music. Tioni’s most frequent social media posts were videos of herself singing along to music, smiling and mugging for the camera. But in recent years she had begun to gravitate toward gritty, emotional rappers and singers like Rod Wave, whose songs explore the painful underside of street life. (“Daddy gone and mama couldn’t save me/So hard times made me,” he raps on his song “Thug Life.”) Read MoreTioni, right, with her family. But as with many aspects of Tioni’s life, the stakes were higher than they should have been: Both investigators and some family members have suggested that she may have been a victim of human trafficking.

☆ Lidl recalls chocolate advent calendar due to potential salmonella contamination
▼ + stars: | 2022-12-11 | by ( Theresa Waldrop | ) edition.cnn.com time to read: 1 min

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☆ Andreessen Horowitz's buzzy tech publication Future is shutting down
▼ + stars: | 2022-12-01 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +12 min

A source familiar with Andreessen Horowitz's content strategy confirmed to Insider that Future is shutting down. An Andreessen Horowitz spokesperson declined to comment on the record. Joe LonsdaleIn this new climate, many tech and venture firms' media strategy has shifted from glorified marketing to a more full-fledged editorial operation. In 2021, an army of more than two dozen marketers at Andreessen Horowitz doubled down on this approach. Disclosure: Melia Russell's husband is a former employee of Andreessen Horowitz.

Lee County suffered none of the state’s 123 Irma deaths. That experience influenced many people’s decisions not to flee Hurricane Ian. “Hurricane Ian is going to be the strongest outreach messaging for southwest Florida ever,” said Gleason, the Charlotte County spokesman. “When you live through it, then that message sinks in deep and forever.”A view of the Matanzas Pass side of Estero Island, home to Fort Myers Beach, Fla. Fort Myers Beach is expected to take years to rebuild. Thomas Simonetti for NBC NewsMichael Yost's two closest friends in Fort Myers Beach drowned in Hurricane Ian.

☆ Home heating costs are on the rise but government assistance is running short
▼ + stars: | 2022-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +9 min

But temperatures are already dropping and the number of households seeking assistance is already on the rise, according to interviews with more than a half dozen officials involved in programs that provide heating assistance. Kelly said the Salvation Army in Massachusetts has received twice as many applications as it did this time last year for its winter heating assistance program, which is aimed at those whose incomes are too high to qualify for federal assistance. The cost of heating oil has been a particular concern for the Biden administration, said the government official. Heating oil and diesel inventories are at their lowest levels on record for this time of year. The administration is also prepared to tap into the Northeast Home Heating Oil Reserve, which has about 1 million barrels of heating oil, if necessary, the administration officials said.

☆ At 3 weeks old, she caught RSV, the virus that's packing hospitals across the US
▼ + stars: | 2022-11-20 | by ( Christina Zdanowicz | ) edition.cnn.com time to read: +11 min

And pediatric hospitals are feeling the strain, with more than three-quarters of their hospital and ICU beds occupied for the past few months. Her prematurity “increased her risk of how her body would react to the RSV virus,” the doctor explained. Medical teams at Greater Baltimore Medical Center helped Ayra Pokharel before she was transferred to another hospital. Sending patients to other facilities for treatment is common during the height of flu and RSV seasons, Nguyen said. RSV symptoms RSV is a common virus, but it can cause serious illness, especially in younger infants and older adults.

☆ UK budget: Britain is bringing back austerity. Here's why
▼ + stars: | 2022-11-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +5 min

The country is staring down the barrel of a grueling recession, and investors remain on edge as interest rates rise. That requires Hunt, who has acknowledged that Britain faces “extremely difficult” decisions, to pull off a delicate balancing act. When the government adopted an austerity program in 2010 on the heels of the Great Recession, it shaved 1% off the country’s GDP, according to the UK budget watchdog. Just four years ago, former Prime Minister Theresa May pledged to bring nearly a decade of austerity to a close. “If we hadn’t had Brexit, we probably wouldn’t be talking about an austerity budget this week.

Rep. Elissa Slotkin won reelection against Republican state Sen. Tom Barrett in Michigan's 7th Congressional District. Democratic Rep. Elissa Slotkin won reelection against Republican Tom Barrett in Michigan's 7th Congressional District. 2022 General EmbedsMichigan's 7th Congressional District candidatesWhen Slotkin first won the seat in 2018, she became the first Democrat to represent Michigan's 8th Congressional District (pre-redistricting) since 2001 with her victory over incumbent Rep. Mike Bishop. In 2022, she ran unopposed in the Democratic primary for the 7th Congressional District. Voting history for Michigan's 7th Congressional DistrictMichigan's newly drawn 7th Congressional District sits in the central region of the state and spans seven counties.

Mark Gordon is running against Democrat Theresa Livingston in Wyoming's gubernatorial race. The gubernatorial election in Wyoming is one of 36 happening around the country. Mark Gordon faces off against Democrat Theresa Livingston in Wyoming's gubernatorial election. Prior to his time as governor, Gordon served as the state's treasurer under Republican Gov. She's the only veteran gubernatorial candidate who is a woman, and the sole Air Force veteran among this year's gubernatorial candidates with military experience.

☆ Republican Gov. Mark Gordon faces off against Democrat Theresa Livingston in Wyoming's gubernatorial election
▼ + stars: | 2022-11-08 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

Mark Gordon is running against Democrat Theresa Livingston in Wyoming's gubernatorial race. The gubernatorial election in Wyoming is one of 36 happening around the country. Mark Gordon faces off against Democrat Theresa Livingston in Wyoming's gubernatorial election. Wyoming's gubernatorial candidatesGordon is approaching the end of his first term in office after being elected in 2018. She's the only veteran gubernatorial candidate who is a woman, and the sole Air Force veteran among this year's gubernatorial candidates with military experience.

☆ How Diverse Are the Candidates in the Midterm Elections?
▼ + stars: | 2022-11-05 | by ( Maggie Astor | Eleanor Lutz | ) www.nytimes.com time to read: +11 min

The House of RepresentativesThere are at least 403 people of color, women or nonbinary candidates running for seats in the House of Representatives in Tuesday’s midterm elections. Incumbent Democrat Republican White men women Black men women Hispanic men women Other and multiple race men womenThere are 11 Senate candidates who are Black this year. Democrat Black candidates Republican Ga. Raphael Warnock Ala. Will Boyd Ark. Incumbent Democrat Republican White men women Black men women Other and multiple race men womenThere are 25 women nominated for governor — 16 Democrats and nine Republicans. Democrat Black candidates Republican Ala. Yolanda Flowers Ark.

☆ New Mexico House race wrangles oil and gas, climate change
▼ + stars: | 2022-11-01 | by ( Andrew Hay | ) www.reuters.com time to read: +4 min

Polls show issues like climate change and abortion are important but the economy may be the driving factor in a state that is one of the poorest in the country and also a top global oil producer. First-term Republican incumbent Yvette Herrell is known as a defender of the Permian Basin oil and gas sector, a region she represents. RIO GRANDE RUNS DRYSome voters in West Side and South Valley Albuquerque areas believe fossil-fuel-driven climate change is harming their quality of life and the livelihoods of farmers. Vasquez has been hit with attack ads saying his policies will cost the state tens of thousands of oil and gas jobs. Herrell, a target of the League of Conservation Voters and other green groups, said New Mexico's emission controls meant the state's oil and gas industry was far cleaner than foreign competitors and did not contribute to climate change.

☆ UK's Sunak reinstates Braverman as interior minister
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 25 (Reuters) - British lawmaker Suella Braverman was reappointed as interior minister on Tuesday by Prime Minister Rishi Sunak, less than a week after she resigned from the role for breaching government rules. Braverman, 42, stepped down a day before former prime minister Liz Truss did after breaching email security rules, also voicing concerns about the direction of Truss's government in her resignation letter. First elected to parliament in 2015, Braverman is regarded as being on the right wing of the governing Conservative Party. A committed Brexit supporter, she was appointed as a minister in the Department for Exiting the European Union but resigned in protest at former prime minister Theresa May's proposed divorce deal. Reporting by William James, writing by Muvija M and Alistair Smout, editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Dominic Raab returns to government as deputy PM under Sunak
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 25 (Reuters) - British lawmaker Dominic Raab was appointed deputy prime minister and minister of justice on Tuesday, returning to the roles he held for a year until September. Here are five facts about Raab:- Raab, 48, lost his roles as deputy prime minister and justice minister when Liz Truss entered Downing Street earlier this year and has been a staunch supporter of now Prime Minister Rishi Sunak in two leadership campaigns. - As deputy prime minister under Boris Johnson, Raab had to step in when the former leader was hospitalised in intensive care with COVID-19 in April 2020. - Raab is a hardline eurosceptic, who long campaigned for Britain to leave the European Union and was appointed to Brexit minister in 2018 by another former prime minister, Theresa May. - Raab ran against Johnson to become leader of the Conservative Party and prime minister in 2019.

Like Truss, Sunak promised a tough approach to illegal immigration and vowed to expand the government’s controversial Rwanda immigration policy. At the time Johnson was running to lead Britain's Conservative Party and Sunak was a member of Parliament. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Danny Lawson/PA/Getty Images Sunak delivers a speech during the annual Conservative Party Conference in Manchester in October 2021. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022.

☆ Twitter is bowing down to Larry the Cat, Downing Street's Chief Mouser, for outlasting 4 prime ministers
▼ + stars: | 2022-10-21 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Larry the cat is Downing Street's Chief Mouser, and has worked there since February 15, 2011. When Truss leaves office, Larry the Cat will have outlasted four prime ministers. Larry, the official cat at the British prime minister's 10 Downing Street residence, holds the title of Chief Mouser. "The King has asked me to become Prime Minister because this nonsense has gone on long enough," read a tweet from the account on Thursday. One Twitter user posted a photoshopped image of Larry in front of a crowd holding signs that reads: "Larry for Leader."

☆ Factbox: Conservative leadership race: who will replace Liz Truss as UK prime minister?
▼ + stars: | 2022-10-21 | by ( Kate Holton | ) www.reuters.com time to read: +4 min

LONDON, Oct 21 (Reuters) - A fast-tracked Conservative Party leadership election is underway to replace Liz Truss, who said on Thursday she would resign just six weeks after being appointed as British prime minister. If the person in second place does not drop out, then the Conservative Party membership will vote, with results announced by Friday. BORIS JOHNSONFormer prime minister Johnson, a journalist, has loomed large over British politics ever since he became London Mayor in 2008. Conservative lawmakers said Johnson, who has been on holiday in the Caribbean, could stand in the leadership contest and was taking soundings. Wallace, a former soldier, was defence minister for both Johnson and Truss, leading Britain's response to Russia's invasion of Ukraine.

☆ Rep. Elissa Slotkin faces off against Republican state Sen. Tom Barrett in Michigan's 7th Congressional District election
▼ + stars: | 2022-10-21 | by ( Hanna Kang | ) www.businessinsider.com time to read: +4 min

Rep. Elissa Slotkin is running against Republican state Sen. Tom Barrett in Michigan's 7th Congressional District. The newly drawn 7th District excludes the city of Jackson, often touted as one of the birthplaces of the Republican Party. Michigan's 7th Congressional District candidatesSlotkin became the first Democrat to represent Michigan's 8th Congressional District (pre-redistricting) since 2001 with her victory in 2018 over incumbent Rep. Mike Bishop. In 2022, she ran unopposed in the Democratic primary for the 7th Congressional District. Voting history for Michigan's 7th Congressional DistrictMichigan's newly drawn 7th Congressional District sits in the central region of the state and includes all of Livingston, Ingham, Clinton, and Shiawassee counties and the state capital of Lansing.

☆ British minister Penny Mordaunt announces bid to be next UK PM
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 21 (Reuters) - British minister Penny Mordaunt on Friday launched her bid to replace Liz Truss as prime minister, becoming the first Conservative lawmaker to announce they are running. That race saw Truss defeat former finance minister Rishi Sunak. "I’ve been encouraged by support from colleagues who want a fresh start, a united party and leadership in the national interest." Bookmakers place Mordaunt third, behind Sunak and Johnson, who are also expected to enter the race to succeed Truss. Largely unknown outside Westminster prior to taking an early opinion poll lead among Conservative Party members earlier this year, some of the public may have first seen Mordaunt on the reality TV show Splash!

LONDON — Her tenure as Britain’s prime minister began in the early days of fall, but it didn’t even last until winter. The plan was criticized not only by the opposing Labour Party, but also President Joe Biden and the International Monetary Fund. Chancellor of the Exchequer Kwasi Kwarteng and British Prime Minister Liz Truss attend the annual Conservative Party conference on Oct. 2. Truss told Parliament on Wednesday, “I am a fighter, not a quitter,” after repeatedly being told she was unfit for office by opposition lawmakers. Under an expedited process, leadership challengers must win the support of 100 fellow Conservative Party lawmakers (out of a total of 357) by Monday afternoon.

☆ Factbox: Britain's shortest-serving prime ministers
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters) - Liz Truss resigned as prime minister on Thursday 44 days after starting the job, making her Britain's shortest-serving premier. * The Duke of Devonshire - 225 daysWilliam Cavendish, the 4th Duke of Devonshire and a Whig, was seen as de facto prime minister during a caretaker government and stepped down in June 1757. * The Earl of Shelburne - 265 daysDublin-born William Petty, the 2nd Earl of Shelburne, was in office when the treaty of Paris, which ended the American War of Independence, was signed. * The Earl of Bute - 317 daysJohn Stuart, third Earl of Bute, was the first prime minister from Scotland after the Acts of Union in 1707. Register now for FREE unlimited access to Reuters.com RegisterCompiled by Andrew Heavens; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Liz Truss resignation: who were the UK’s shortest serving prime ministers?
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 21 (Reuters) - Liz Truss resigned as prime minister on Thursday 44 days after starting the job, making her Britain's shortest-serving premier. * The Duke of Devonshire - 225 daysWilliam Cavendish, the 4th Duke of Devonshire and a Whig, was seen as de facto prime minister during a caretaker government and stepped down in June 1757. * The Earl of Shelburne - 265 daysDublin-born William Petty, the 2nd Earl of Shelburne, was in office when the treaty of Paris, which ended the American War of Independence, was signed. * The Earl of Bute - 317 daysJohn Stuart, third Earl of Bute, was the first prime minister from Scotland after the Acts of Union in 1707. Register now for FREE unlimited access to Reuters.com RegisterCompiled by Andrew Heavens; Editing by Andrew Cawthorne and Jon BoyleOur Standards: The Thomson Reuters Trust Principles.

"The prime minister is not under a desk," Mordaunt said in parliament, keeping a straight-face despite the jeers and laughter from the opposition Labour Party facing her. Mordaunt now has her second chance to run for the top job, after just missing out on the final two in the contest to become the leader of the ruling Conservative Party earlier this year. She also promoted her patriotism, talking about her memories of the Falkland's conflict that helped to define former prime minister Margaret Thatcher. Her first post came as a local government minister in 2014, followed by armed forces minister and disabilities minister. Truss appointed Mordaunt as the leader of the House of Commons, charged with setting out the government business with her no-nonsense attitude gaining admirers.

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