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☆ Booker Prize 2024: Samantha Harvey’s space-station novel ‘Orbital’ wins annual literature award
▼ + stars: | 2024-11-12 | by ( Associated Press | ) edition.cnn.com time to read: +4 min

London AP —British writer Samantha Harvey won the Booker Prize for fiction on Tuesday with “Orbital,” a short, wonder-filled novel set aboard the International Space Station that ponders the beauty and fragility of Earth. The prize is open to English-language writers of any nationality and has a reputation for transforming writers’ careers. De Waal praised the “crystalline” writing and “capaciousness” of Harvey’s succinct novel — at 136 pages in its UK paperback edition, one of the shortest-ever Booker winners. Harvey is the first female Booker winner since 2019, though one of five women on this year’s shortlist, the largest number in the prize’s 55-year history. Founded in 1969, the Booker Prize is open to novels originally written in English published in the UK or Ireland.

Persons: Samantha Harvey, Booker, Harvey, ”, Edmund de Waal, ” Gaby Wood, ” Harvey, Ian McEwan, Margaret Atwood, Salman Rushdie, Hilary, Waal, Percival Everett, “ James, Twain’s, Huckleberry Finn ”, Jim, Rachel Kushner’s, Canadian Anne Michaels, Charlotte Wood’s, Yael van der, De Waal, Paul Lynch, ” Lynch Organizations: London AP, Space, Prize Foundation, Ireland Locations: British, Canada, United States, Australia, Netherlands, Canadian, London, Japan

☆ A little-known law has forced over 120,000 veterans to return the money they got to leave the military, new data shows
▼ + stars: | 2024-08-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Melissa Chan | ) www.nbcnews.com time to read: +10 min

He said the VA is legally bound to recover special separation benefits from veterans before those eligible can begin receiving disability payments. The VA had to recoup separation pay from 8,130 veterans in fiscal year 2020 and 8,550 in 2021. In 2021, the Veterans Benefits Administration began scanning all veterans’ service and medical records into electronic files, which “reduces the likelihood of this situation reoccurring,” Hayes said. Unique exceptions to the lawVeterans have a chance to pursue a waiver of their recoupment responsibilities for only certain special separation benefits under the law. In 2023, the Navy authorized reducing the amount of disability pay that is withheld while voluntary separation pay is recouped, Navy spokesperson Charlie Spirtos said.

Persons: “, ”, Vernon Reffitt, recoupments, Terrence Hayes, Shawn Teller, Teller, ” Teller, “ It’s, Reffitt, ‘, Hayes, ” Hayes, Erika Yepsen, Yepsen, recoupment, ” Yepsen, Charlie Spirtos, Marquis Barefield, ” Barefield, Ruben Gallego Organizations: NBC News, Army, U.S . Department of Veterans Affairs, NBC, “, VA, Veterans, Administration, The Air Force, Air Force, Air Force, Navy, Marine Corps, Coast Guard, DAV, American Veterans, ” Veterans, recoupment, RAND Corporation Locations: U.S, Storm, Walnut Creek , California, Twin City , Georgia, United States

☆ The Arizona primary where the MAGA movement is devouring itself
▼ + stars: | 2024-07-08 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +18 min

"He is running a very bigoted race," Hamadeh told me of Masters, "and MAGA and the America First movement is bigger than that." An anti-Hamadeh yard sign, paid for by the Masters campaign, beside one of Hamadeh's own signs in the 8th district. "This guy, he lost against Mark Kelly because he's a weirdo," Hamadeh told me. "I think that warrants some investigative journalism," Hamadeh told me. "I can't vote for you," one woman, apparently not a prospective constituent, told Hamadeh as she shook hands with him after the event, "but I'll give you a donation."

Persons: Abe Hamadeh, Hamadeh, I've, He's, Donald Trump, Kari Lake, MAGA, Blake Masters, Peter Thiel protégé, who's, It's, Bryan Metzger, Ben Toma, Debbie Lesko, Sen, Anthony Kern, There's, Trent Franks, Israel, there's, Lesko, —, Abraham, Abe, Ron Paul, Prophet Muhammad, Jesus, fashioning, he's, Trent, They're, MAGA bromides, JD Vance, Ohio, Masters, Vance, Ted Kacynski, Blake, Mark Kelly, Kari, Brandon Bell, Trump, Clarence Thomas, Thiel, Hamadeh's, Arizona Republic —, Rebecca Noble, Toma Organizations: Service, Republican, GOP, Arizona, Capitol, Trump, Masters, Supreme, Daily, University of, Maricopa County Attorney's, US Army Reserve, Republican Party, Senate, Sun City, Justice, Republicans, Sun City West, Stanford University, FBI, Thiel Capital, Fox News, Arizona Republic, Sun, Arizona House Locations: Phoenix, Arab American, Arizona, America, Tucson, North Phoenix, Washington, There's, Maricopa County, Mecca, Chicago, Skokie, United States, Saudi Arabia, Jerusalem, Istanbul, Vatican, Thailand, Japan, Sun City, crazies, Scottsdale, it's

It was a one-time, lump-sum special separation benefit offered to service members when the U.S. had to reduce its active-duty force. Courtesy Vernon ReffittThousands have found themselves in Reffitt’s position due to a little-known law that prohibits veterans from receiving both disability and special separation pay. Under the law, the VA has to recoup special separation benefits from veterans before those eligible can begin receiving disability payments. Army veteran Daphne Young said she would not have taken the separation pay had she known. Under the law, veterans have a chance to pursue a waiver of their recoupment responsibilities for voluntary separation pay, but the standards are high.

Persons: Vernon Reffitt, Reffitt, Stephanie Rennane, Rennane, it’s, Daphne Young, Daphne Young Young, Young, Marquis Barefield, Barefield, Shane Collins, Collins, Ruben Gallego, Gallego, I’ve Organizations: Department of Veterans Affairs, RAND Corporation, NBC News, Army, Young, DAV, American Veterans, Veterans, recoupment, RAND, Marine, Marines, Pentagon, Defense Locations: U.S, Twin City , Georgia, Panama, Honduras, Germany, Columbus , Georgia, Iraq, Afghanistan, Twin Falls , Idaho, United States

☆ Bankrupt trucker Yellow repays $700 million Covid loan, as unsecured creditors press for billions more
▼ + stars: | 2024-02-05 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Trucks and trailers sit in a Yellow Corp. facility lot, closed after the freight trucking company ceased all operations, in Las Vegas, Nevada, on July 31, 2023. The bankrupt trucking company Yellow has fully repaid a controversial $700 million Covid loan to the U.S. Treasury Department, plus more than $151 million in interest, the company said Monday. Meanwhile, unsecured creditors in the bankruptcy case, including employee pension funds, are seeking billions of dollars in payouts from what remains of the company. By mid-2023, as it headed toward bankruptcy, Yellow had made only one payment on the loan: $230, in July 2021. In a statement Monday announcing the loan repayment, Yellow's chief restructuring officer Matthew Doheny said, "repayment demonstrates Yellow's absolute commitment to fulfilling its promise to the American taxpayers that its CARES Act loan would be repaid in full with interest."

Persons: Matthew Doheny, Doheny, Yellow's, Donald, Trump, Steven, Mnuchin Organizations: Corp, U.S . Treasury Department, Treasury Department, Trump, Defense Department, Treasury Locations: Las Vegas , Nevada, Delaware

When the cryptocurrency exchange FTX declared bankruptcy about 15 months ago, it seemed few customers would recover much money or crypto from the platform. Well, it turns out, FTX lawyers told a bankruptcy judge this week that they expected to pay creditors in full, though they said it was not a guarantee and had not yet revealed their strategy. The surprise turn of events is raising serious questions about what happens next. Among them: What does this mean for the lawsuits FTX has filed in an attempt to claw back billions in assets that the company says it’s owed? Will the possibility that customers could be made whole be raised at Bankman-Fried’s sentencing?

Persons: FTX, John Ray III, “, we’re, Sam Bankman, it’s Locations: Bankman

☆ A stay-at-home girlfriend says she's living her dream life: 'My money is my money, and his money is our money'
▼ + stars: | 2024-02-01 | by ( Julia Naftulin | ) www.businessinsider.com time to read: +8 min

Here's how embracing the stay-at-home girlfriend lifestyle has empowered her to live with less stress and more time for her passions and family. She had no prior experience as a stay-at-home girlfriend, but the lifestyle was one she saw modeled in her family, she said. What does a stay-at-home girlfriend do? Williams and her partner often joke that "My money is my money, and his money is our money," she told BI. Any money that comes from her work is solely hers and she uses it to pay for work-related bills like new filming equipment, Williams told BI.

Persons: Stella Williams, Williams, Dre, they've, it's, she's, I've, William, They've Organizations: Service, Target, Business, Latina, barre Locations: Paris

☆ Silvergate Capital fully repays deposit liabilities
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

Nov 22 (Reuters) - Crypto-focused bank Silvergate Capital said on Wednesday it had fully repaid all remaining deposit liabilities, following the bank's decision earlier this year to wind down operations. Silvergate, which now holds less than $10,000 according to the statement, said in March it intended to voluntarily liquidate after being hit with losses following the dramatic collapse of crypto exchange FTX. "Silvergate continues to focus on implementing the Bank Liquidation," it said in a statement on Wednesday. California-based Silvergate, once among the crypto industry's favored banks, had reported a $1 billion quarterly loss before the winding down decision, as investors spooked by the FTX debacle pulled out more than $8 billion in deposits. Reporting by Pritam Biswas in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Silvergate, Pritam Biswas, Devika Organizations: Silvergate, Bank, Thomson Locations: . California, Bengaluru

☆ Italy raises $1 bln as reduces Monte dei Paschi stake
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

NOVEMBER 2007 - MPS buys Antonveneta from Santander (SAN.MC) for 9 billion euros in cash, months after the Spanish bank paid 6.6 billion euros for it. JULY 2011 - MPS raises 2.15 billion euros in a rights issue ahead of European stress test results. JUNE 2014 - MPS raises 5 billion euros in a rights issue and repays the state 3.1 billion euros. JUNE 2015 - MPS raises 3 billion euros in cash after a 5.3 billion euro net loss for 2014 on record bad loan writedowns. It repays the remaining 1.1 billion euro state underwritten special bond.

Persons: Valentina Za, Keith Weir Organizations: MILAN, Monday, MPS, JPMorgan, Treasury, Bank of Italy, Antonveneta, Italy's, ECB, EU Commission, Thomson Locations: Italy, Siena, Santander, Europe

☆ How Biden's new student-loan forgiveness plan is trying to keep away some of the lawsuits that threatened the debt relief the first time around
▼ + stars: | 2023-11-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department is beginning its second round of negotiations for student-debt relief this week. AdvertisementAdvertisementPresident Joe Biden's Education Department is trying to ensure its second plan for student-debt relief can stand up against legal challenges. "This administration is taking another critical step to advance the President's goal of delivering debt relief to as many borrowers as possible. AdvertisementAdvertisement"Following the lead of Republican plaintiffs who filed suit in court, six Supreme Court justices wrongly blocked the President's first attempt of student debt relief," he said. AdvertisementAdvertisementIn September 2022, about a month after Biden announced his first broad relief plan, the Education Department updated its guidance to state that FFEL borrowers would no longer qualify for the relief.

Persons: —, Joe Biden's, Economic Mobility Robert Gordon, Biden Organizations: Department, Service, Joe Biden's Education Department, Education Department, Higher, Republican, Economic Mobility, Family Education, guaranty, Politico

☆ What happens to student-loan borrowers who miss payments starting next month
▼ + stars: | 2023-09-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Federal student-loan payments are starting up again beginning next week. AdvertisementAdvertisementMillions of student-loan borrowers are about to face another monthly bill — and they might not be able to afford it. On October 1, borrowers will begin receiving bills for their federal student-loan payments. Here's what borrowers should be aware of, along with the potential consequences of missing a payment starting next month. AdvertisementAdvertisementOn-ramp periodThe Education Department announced some temporary relief for borrowers if they find they cannot afford payments next month.

Persons: —, Joe Biden, Biden, servicer Organizations: Service, Education Department, Education, Perkins, Social, Higher Locations: COVID

"I'm bad with money." As a wealth advisor, I hear statements like this all the time from women, regardless of their age. So why do so many women grow up believing that they're bad at math and, later, bad with money? How can women develop skills and the confidence needed to manage their money effectively, if it isn't even considered to be theirs? Today, we still have a gender pay gap, which can negatively affect women's confidence with money.

Persons: we're, it's, Wells, Janet Hyde, Jane Austen Organizations: Finance, Bank of America, repays Locations: England, U.S

☆ Africa Climate Summit: Electric motorcycle startup Spiro expands into Kenya
▼ + stars: | 2023-09-04 | by ( Nell Lewis | ) edition.cnn.com time to read: +6 min

CNN —Spiro, a startup looking to eliminate fuel-guzzling motorbikes and scooters from the roads by trading them in for electric two-wheelers, is expanding to Kenya. Ahead of the first Africa Climate Summit, which kicked off in Kenya’s capital Nairobi today, the host government announced on Friday that the e-bike and battery-swapping startup would be entering the East African country with its biggest deployment yet: 1.2 million electric vehicles. In Kenya, they will be offered 50,000 Kenyan shillings (about $344) – around a third of the price of a new electric bike – to swap their existing bike for an electric one. Last week, US company Uber also launched an electric motorbike service in Kenya, promising to roll out 3,000 bikes within six months. “We’re surpassing the symbolic but significant milestone of one million electric bikes signed with a government,” says Samain.

Persons: CNN — Spiro, Jules Samain –, polluters, Samain, Spiro, CLEMENT, CLEMENT DI ROMA, ”, ” Spiro, William Ruto, Ampersand, Uber Organizations: CNN, Africa Climate, CLEMENT DI, AFP, Getty, FIA Foundation, Spiro, McKinsey Locations: Kenya, Africa, Kenya’s, Nairobi, West, Benin, Togo, Rwanda, Uganda, China, Mombasa, Saharan Africa, Swedish, Kenyan, East

☆ Wells Fargo repays clients $40 million for excessive investment advice fees
▼ + stars: | 2023-08-25 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Wells Fargo paid back $40 million to almost 11,000 customers who for years were overcharged on fees for investment advice, the Securities and Exchange Commission said Friday. Wells Fargo neither admitted nor denied the allegations, the agency said. However, internal systems failed to account for those reduced advisory fees in some cases, the SEC said. (AG Edwards and Wachovia merged in 2007; Wells Fargo and Wachovia then did so in 2008.) Caroline Szyperski, a spokesperson for Wells Fargo, said the firm is "pleased to resolve this matter."

Persons: Wells Fargo, Wells, There's, — AG, Gurbir Grewal, Caroline Szyperski Organizations: Securities and Exchange Commission, SEC, Finance, —, — AG Edwards, Wachovia —, Edwards, Wachovia Locations: Wells Fargo

"So why not be in a situation where you're just much more ready in case you...need to access this discount window?" An analysis of Fed data by Reuters, though, shows a lot still needs to be done to meet that goal. All told, about 3,800 banks borrowed from the discount window during the 11-year period detailed in the central bank data. The biggest banks also stepped up to borrow so as to reduce discount window stigma. Minneapolis Fed President Neel Kashkari said small banks should think of the discount window as a backup.

Persons: Brittany Hosea, Jerome Powell, I’ve, Lorie Logan, Banks, Goldman Sachs, Huberto Ennis, Michelle Bowman, Brad Tidwell, SVB, Austan Goolsbee, Richmond Fed's Ennis, Neel Kashkari, Ann Saphir, Michael S, Andrea Ricci Organizations: Bank, REUTERS, Federal Reserve, Reuters, Dallas, U.S, Fed, Reuters Graphics Reuters, Richmond Fed, National Credit Union Association, Chicago Fed, Federal Home Loan Bank, Minneapolis, Home Loan Bank, Thomson Locations: Santa Clara , California, U.S, Silicon, Washington, While California, Texas, Logan's, New Mexico, Louisiana, Henderson , Texas

☆ Parents and graduate students taking on new student loans are about to experience the highest interest rates in over a decade
▼ + stars: | 2023-05-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Treasury set the new interest rates for federal student loans in the 2023-2024 school year on Wednesday. They're the highest rates for student loans in over a decade. For graduate and PLUS loans in particular, the interest rate is surging to 8.05%. When it comes to the PLUS loans, this increase is particularly notable given that interest rates on those loans have not been this high since 2006. Insider has previously reported on the burden PLUS loans can bring, especially for parents.

☆ If Charles wants a coronation, he should pay for it himself
▼ + stars: | 2023-05-05 | by ( Opinion Ahmed Twaij | ) edition.cnn.com time to read: +6 min

If Charles III wants the pomp and ceremony of a coronation, he should instead use a negligible portion of the vast sums of money he has accrued over the years thanks to his birth-given status as a royal. Spain’s last formal coronation was all the way back in 1555, while Belgium’s monarchy doesn’t even have a crown with which to conduct a coronation. It also found that a plurality of 45% believe Charles is “out of touch” with the experiences of the public. However, these tourist dollars might well continue whether or not the royal family does. Maybe if a tighter budget is applied to the British royal family, Charles rather than taxpayers will be paying the next time he opts to board a £32,000 ($40,200) charter flight to attend a James Bond premiere.

☆ What King Charles' coronation means for the UK economy
▼ + stars: | 2023-05-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

But the UK economy as a whole could suffer as workers take an extra day’s holiday. John Lewis' Coronation Lewis Bear. John Lewis & PartnersDepartment store John Lewis has had to limit in-store purchases of its Coronation Lewis Bear to two per household, and the teddy is out of stock online. For the coronation, UK luxury brands “have procured unique merchandise at all levels of the economy and we’re seeing people buying it, particularly Americans and EU customers,” she added. (The coronation holiday will be the third holiday Monday this month.)

☆ Negotiating Financing Provisions in Mergers
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +47 min

(For the complete version of this resource, which includes initial considerations and questions counsel should ask when drafting and negotiating financing provisions in merger agreements, see Drafting and Negotiating Financing Provisions in Mergers on Practical Law.) For a private placement under Rule 144A, the financing parties may offer some flexibility regarding the required financing statements. The term refers collectively to provisions that benefit debt financing parties by limiting their liability in an acquisition financing, including provisions that provide for:No recourse to the financing parties. The target company has no recourse against the financing parties and cannot pursue litigation against the financing parties directly. The financing parties are third-party beneficiaries of the Xerox provisions to permit the financing parties to enforce their rights under the merger agreement.

☆ StellarFi, a fintech startup that helps people improve their credit scores, just raised $15 million with this 10-slide pitch deck
▼ + stars: | 2023-03-28 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Fintech StellarFi, which helps people improve their credit score, just raised $15 million. Check out the 10-slide pitch deck StellarFi used to raise its Series A round below. StellarFi, a fintech startup that helps people improve their credit scores, has raised $15 million in new funding. Paying the debt on time each month is designed to boost users' credit scores which are otherwise improved using high-interest loans or expensive credit cards, according to Zarrad. StellarFi raised a $7.2 million seed round in March 2022 and has now brought in $15 million in Series A funding in a round led by Acrew Capital.

☆ U.S. judge says Celsius Network owns most customer crypto deposits
▼ + stars: | 2023-01-05 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Jan 4 (Reuters) - A U.S. bankruptcy judge ruled on Wednesday that Celsius Network owns most of the cryptocurrency that customers deposited into its online platform, meaning most Celsius customers will be last in line for repayment in the crypto lender's bankruptcy. The ruling means that most Celsius customers will be lower priority than customers who held non-interest bearing accounts and other secured creditors. Celsius' terms of service made clear that the crypto lender took ownership of customer deposits into its interest-bearing Earn accounts, according to Glenn. That means that Earn customers will be treated as unsecured creditors in Celsius' bankruptcy, and they will be last in line for repayment after Celsius repays higher-priority debts. The ruling authorizes Celsius to sell approximately $18 million stablecoins that had been held in customers' Earn accounts.

☆ Greece repays euro zone bailout loans early for first time-source
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

ATHENS, Dec 15 (Reuters) - Greece has repaid ahead of schedule 2.7 billion euros ($2.87 billion) of loans owed to euro zone countries under the first bailout it received during its decade-long debt crisis, a finance ministry official told Reuters on Thursday. The official, who spoke on condition of anonymity, confirmed a Reuters report in September that Greece planned to repay euro zone bailout loans earlier as part of its efforts to improve its debt sustainability. The euro zone and the International Monetary Fund together lent Greece more than 260 billion euros during the crisis which broke out in late 2009, in exchange for tough austerity measures. Euro zone countries lent Greece 53 billion euros in bilateral so-called Greek Loan Facility (GLF) loans during its first bailout, with maturities spreading to 2041. With the planned payment Greece will have repaid a total of 8 billion euros, the official said.

☆ Pakistan repays $1 bln international bond -central bank spokesman
▼ + stars: | 2022-12-03 | by ( Gibran Naiyyar Peshimam | Fergal Smith | ) www.reuters.com time to read: +1 min

ISLAMABAD, Dec 2 (Reuters) - Pakistan repaid a $1 billion international bond, the central bank spokesman said on Friday, amidst growing uncertainty about the country's ability to meet external financing obligations. "The payment (was) made to Citibank New York," State Bank of Pakistan (SBP) spokesman Abid Qamar told Reuters in a message. The bond repayment, which matures on Dec. 5, totals $1.08 billion, the central bank chief said last week. During the week ended Nov. 25, SBP reserves stood at $7,498.7 million. Saudi Arabia on Friday also extended the term of a $3 billion deposit it has in Pakistan's foreign reserves.

Knitowski borrowed $375,000 from crypto lender Celsius over several years and posted $1.5 million in bitcoin as collateral. Knitowski and thousands of other loan holders had more than $812 million in collateral locked on the platform, and bankruptcy records show Celsius failed to return collateral to borrowers even after they repaid their loans. Adler said he's representing a group of 75 borrowers who have approximately $100 million in digital assets on Celsius' platform. In the crypto world, a borrower can ask for a loan and pledge bitcoin as collateral. The crypto platform also failed to provide borrowers with a complete federal Truth in Lending Act (TILA) disclosure, according to former employees and an email sent to customers on July 4.

☆ Intesa Sanpaolo repays around 13 bln euros in TLTRO III funds
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: 1 min

MILAN, Nov 18 (Reuters) - Italy's largest bank Intesa Sanpaolo (ISP.MI) said on Friday it had repaid around 13 billion euros ($13.48 billion) in ECB's Targeted Longer Term Refinancing Operation (TLTRO) III funds. The European Central Bank has given banks an incentive to get rid of those loans by taking away a rate subsidy last month. It was its first move to mop up cash from the banking system and the first step towards unwinding its massive bond purchases. The early repayment leaves Intesa with 102 billion euros in outstanding TLTRO funds, the bank said in a statement published on its website. ($1 = 0.9646 euros)Reporting by Valentina Za; Writing by Gianluca Semeraro, Editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.

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