Student loan borrowers may get more time before payments resume

Serhii Shleihel | iStock | Getty Images

Signs are mounting that student loan borrowers could get more time before they need to resume their payments.

For more than 16 months now, most borrowers’ bills have been on pause, thanks to a break offered by the U.S. Department of Education because of the financial struggles wrought by the Covid-19 pandemic. Currently, those payments are scheduled to begin again in October.

However, an extension is under consideration, experts say.

“There’s a great deal of discussion about what’s the right thing to do here,” said Scott Buchanan, executive director of the Student

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Indonesia to balance economy with pandemic support: Finance minister

Indonesia needs to “protect the people” and spend more to support them during the pandemic — and it’s not likely to impair the economic recovery, the country’s finance minister, Sri Mulyani Indrawati, claimed on Tuesday.

The so-called social safety net for Indonesians has been increased by 20% while health-care expenditure has been upped by nearly 19%, Sri Mulyani told CNBC’s “Squawk Box Asia” on Monday. Indonesia’s social safety net policies extend government support to the poor and those impacted by economic crisis.

“This is definitely shifting on our focus on the budget to protect the people,” she said. “Certainly, we

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Bitcoin (BTC) falls below $30,000 as cryptocurrency market plunges

A representations of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken May 19, 2021.

Dado Ruvic | Reuters

The price of bitcoin dropped below $30,000 late Monday night for the first time since Jun. 22, dragging other digital coins lower with it.

Bitcoin is trading in the $29,000 range, about 3% lower on the day, according to Coin Metrics. Ether is down 1.25% and XRP fell 4%. Even with the plunge bitcoin is up 2.3% for the year, according to CoinDesk data. Ether and XRP are both up about 140% for the year.

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Dow plunges over 900 pts as virus surge fans recovery fears

The Dow sank more than 2% on Monday as investors sold off economically sensitive shares and travel stocks and sought the perceived safety of bonds on fears that a spike in COVID-19 cases would derail a broader economic recovery.

New infections surged in parts of Asia and England, while U.S. COVID-19 cases soared 70% last week, fueled by the Delta variant.

All 11 S&P sectors fell, with the so-called value stocks, including financial, industrial, materials and energy, dropping between 2.0% and 3.9%.

The banking sub-index sank 3%, tracking a fall in the benchmark 10-year Treasury yield to mid-February lows.

“There’s

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NortonLifeLock in Talks to Buy Avast

NortonLifeLock Inc.

is in talks to buy cybersecurity firm

Avast

Plc in a deal that would expand the U.S. company’s focus on consumer software.

Avast said late Wednesday that the two were in advanced discussions about a cash-and-stock deal after The Wall Street Journal reported on the talks earlier Wednesday.

A deal could be completed this month, assuming talks don’t fall apart, according to people familiar with the matter. Avast has a market value of around £5.2 billion (around $7.2 billion). Assuming a typical deal premium, the deal could value the cybersecurity firm at more than $8 billion.

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Executive at NASA committed covid loan fraud to pay bills

Before the fraud, Tezna lived what appeared to be a quintessential American success story. His family came to the United States from Colombia when he was 13, living in an unfinished basement. As a teenager, he helped his mother build a residential cleaning business while taking English classes through Loudoun County and meeting his future wife. He earned a degree from George Mason University while working full time to pay for his housing and car. He went on to study accounting, and in six years at NASA, he rose to the executive level — a “dream job” that paid $181,000

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How decentralized finance will transform business financial services

  • Decentralized finance (DeFi) is emerging as a tool for smaller businesses in developing markets, particularly for remittances and small loans;
  • The transaction banking industry is beginning to see DeFi’s potential to overhaul the inflexibility of present processes;
  • Uptake of DeFi in transaction banking could open up new capital opportunities for larger companies and increase liquidity for SMEs.

Decentralized finance had a resurgence last summer. Cryptocurrencies like bitcoin and ether are now becoming more widely accepted for payments and USD Coin (USDC) has made significant progress towards being an asset that will maintain its value without future depreciation.

At the same

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Square bitcoin DeFi business; Elon Musk dogecoin tweets

The top cryptocurrencies by market value, including bitcoin and ether, remain in the red on Monday, extending losses from the past week. Dogecoin is also down over 18% in the last seven days.

But a lot is still happening in the crypto world. From Jack Dorsey announcing that Square is building a bitcoin focused decentralized finance business to Elon Musk continuing to tweet about dogecoin, here are six things worth knowing in crypto from the past week.

1. Federal Reserve chairman Jerome Powell calls for more stablecoin regulation

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Virus Headwinds Hit Wall St. After Months of Smooth Sailing

On Monday, investors behaved as they had during the pandemic’s early days, pouring money into so-called stay-at-home stocks, whose business models appear almost tailor-made to thrive despite lockdowns. Shares of Peloton climbed more than 7 percent. Stock in Etsy, which soared last year as consumers sought out homemade masks, jumped 3.2 percent.

Investors also bought shares of Clorox, the grocery chain Kroger, Campbell Soup and the toilet tissue maker Kimberly-Clark. Such consumer staples companies fared extraordinarily well during the worst period of last year’s pandemic panic, as consumers stockpiled essentials.

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Behind the Lordstown Debacle, the Hand of a Wall Street Dealmaker

Goldman, which was working with Mr. Hamamoto and arranged $500 million in additional financing for the acquisition, ran only a standard background check on Mr. Burns — a public-records search that took more effort than simply looking him up on Google but stopped short of any interviews, a person familiar with the bank’s activities said.

Mr. Burns did not respond to requests for comment.

In early August, news of the merger of DiamondPeak and Lordstown drove shares of the SPAC up 20 percent. Small investors, who have become active players in the stock market in recent years, were

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