The Week Ahead: Looking at the share of long-term unemployment
The penultimate jobs report of the Trump Administration will be released on Friday. Any drop in the headline unemployment rate for November will be heralded by the president as proof that the economy is healing. He will take credit where very little is due. Don’t be shocked if he uses it as an anvil to hammer imaginary threats of economic ruin with the incoming administration.Instead of focusing on the change of the monthly unemployment rate, millions of American workers are counting their time going without work by the month. The share of long-term unemployment has quadrupled since July. A th...
Will Alternative Data Drive Credit Model Adaptability?
COVID-19’s exposure of the limitations of current credit and default models is not news to many. Forecasters continue to struggle with developing methodologies to link a new economic paradigm with existing models that cannot easily be trained on double-digital unemployment rates and more than four million mortgage loans in forbearance. Traditional models are no longer working, and new solutions are in short supply.Q3 2020 hedge fund letters, conferences and moreLack Of Innovation In The Mortgage And Structured Credit MarketsIt’s time for a systematic upgrade. With new technologies that provide...
UAE banks should be aiding home buys now
One of the central debates in real estate finance is about the role of credit on asset prices and whether they lead to bubbles that inevitably end in tears. This fear goes all the way back to the panic of 1792, when bankers led by William Duer in America, precipitated an expansion of credit to fuel speculation in asset markets.Ever since then, the debate has always been about the deleterious impact of credit on the economy and the subsequent damage it inevitably causes. The key difficulty in measuring the effect of credit on the price of housing is establishing the direction of causality betwe...
Screenwriter Murray Schisgal dead
The brains behind 1960s Broadway play Luv and Dustin Hoffman's hit movie comedy Tootsie died on 1 October (20) at a nursing home in Port Chester, New York.Born in Brooklyn, Schisgal kicked off his career in the early 1960s with popular Off Broadway plays The Typists and The Tiger, and Luv, directed by Mike Nichols, marked his Broadway debut in 1965.Both Luv and The Tiger were adapted for the big screen.Schisgal found movie success with a co-writing credit on Tootsie, which earned him an Oscar nomination.©2020 WENNProvided by SyndiGate Media Inc.
De Gea has enough credit to remain Manchester United No 1, says Cole - but Henderson is ready to pounce
David de Gea has enough “credit” at Manchester United to retain his No 1 spot for now, says Andy Cole, but the Spaniard has been warned that Dean Henderson will be ready to pounce on any mistakes.Costly errors have become a theme for the once reliable shot-stopper at Old Trafford.Having overcome a testing start to his time in England to be four-time Player of the Year for United, De Gea is again having questions asked of his performances between the sticks.Henderson has been absorbed back into Ole Gunnar Solskjaer’s squad aftertwo productive loan spells at Sheffield United.De Gea has remained ...
Boosting access to credit: The role of the credit bureaus
The Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria accounts for about 90 million jobs in the economy. However, less than 15 percent of MSMEs have access to finance. Lack of access to financing, most notably working-capital financing, has led to the crimping of the sector growth and a loss in latent innovation, creativity and productivity.The Nigerian government has demonstrated its commitment to improving the ease of doing business and access to credit to consumers and small businesses through various policies and initiatives. These include the promotion of credit reporting infr...
We are taxed enough already, so no to a carbon tax!
The government deserves credit for presenting to parliament what, in my view, is a well thought out economic recovery and transformation plan. It is after all now a matter of fact that the coronavirus pandemic is wreaking extensive harm on livelihoods here in Botswana. So, it was appropriate that the government responded by cutting a path for economic stability and growth which thankfully parliament also approved.That was crucial because the economic toll arising from the virus and the resultant global and local lockdowns keeps rising every passing day. For a month now, liquor outlets for exam...
Freight forwarding and logistics industry hit by credit over stretch | Daily FT
Requests its users to reduce credit periods to sustainable levelsSeeks trade chambers and associations to educate membersRequests banks to extend the low interest loans to the sectorEvolving freight forwarding industryFreight forwarding industry has evolved from a basic booking agent to a Third-Party Logistics Operation. Third party logistics (3PL) is defined as companies that offer outsourced logistics and supply chain management to companies mainly involved in international trade. The 3PL service may be a single provider, such as transportation or warehouse storage, or it can be a system wid...
Daily Financial Times
People’s Bank extends unparalleled support to the nation during COVID-19 | Daily FT
Credit extended during 6-month period ended 30 June accounted for 45% of total sector credit extended during said period on a net basisOn consolidated basis, relief extended to close to 460,000 retail customers and over 21,000 business ownersBank introduced multiple loan schemes at highly-concessionary rates of interest to benefit customers in priority sectors in line with Govt. objectivesPeople’s Bank recently announced the results for the six-month period ended 30 June 2020, reporting consolidated loan book growth of over Rs. 190 billion, accounting for close to 45% of total sector credit ex...
Daily Financial Times
Pandemic home-schooling puts Americans into debt: report
Washington (AFP) - A significant proportion of Americans whose children are attending classes from home due to COVID-19 are going into debt to pay for food and school supplies, a survey released Tuesday found.The United States is grappling with the world's worst coronavirus outbreak and many school districts have shifted classes at least partially online to prevent transmission of the coronavirus as students resume their studies following the summer break.The report from personal finance company Credit Karma found 33 percent of more than 1,000 parents whose children would be at home at least p...