Facebook, Xiaomi eye $1 trillion mkt as they plan digital loans | Banks News

Several big tech firms are now focusing on digital payments in India as online transactions surged during the pandemic.

India’s digital loan market is becoming a battleground for companies from Facebook Inc. to Xiaomi Corp., seeking a foothold in what’s set to be a $1 trillion industry.

Facebook this month said India would be the first country where it rolls out its small business loan program offering loans via a partner to firms that advertise on its platform. The loans will range from 500,000 rupees ($6,720) to 5 million rupees with interest rates of 17%-20%, potentially without collateral.

The social

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Democrats’ Budget Would Finance Sweeping Clean-Energy Plan

The $3.5 trillion budget plan from congressional Democrats would finance a far-reaching transition to cleaner power, but it is expected to face opposition from parts of the energy industry and their industrial customers over provisions likely to raise their costs.

The plan calls for paying money to utilities that make a fast transition to cleaner fuels—and levying financial penalties for those that move slowly, one of several largely untested programs in the package. Others include tariffs on imports based on their production’s greenhouse-gas emissions, and creating first-of-their-kind fines on oil-and-gas producers for leaking greenhouse gases into the atmosphere from their … Read More

Square’s Decentralized Finance Plan Could Go Mainstream, One Analyst Says

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Jack Dorsey, co-founder & CEO of Square, at a Bitcoin convention on June 04, 2021, in Miami.

Joe Raedle/Getty Images)

Jack Dorsey’s tweet late Thursday announcing a new business unit at


dedicated to developing a decentralized finance platform set off a flurry of reactions from crypto junkies and mainstream consumers alike. Many wonder what this means for Square’s (ticker: SQ) business going forward. One analyst regards move as having potential for expanding decentralized finance to the general public.

While Dorsey’s tweet was vague regarding financial details, BTIG analyst Mark Palmer wrote in a note that he’s optimistic

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It May Be Unsexy, But This One Asset Class Is Critical to Any Financial Plan

If the past year and a half has taught us anything, it’s that having a good financial foundation is critical. While cash is such an important aspect of our everyday lives, many have become complacent about it, often overlooking it entirely as an asset class. Even if your priority is to grow your wealth, you need to build on a foundation of financial security. Cash is that foundation, offering you the comfort of knowing you can cover your monthly bills and unforeseen expenses.

With current interest rates so low, you may not even be thinking about your cash, but having

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Biden’s Student Loan Forgiveness Plan

Inside Biden’s Student Loan Forgiveness Plan – SmartAsset

The U.S. Department of Education has canceled approximately $3 billion in student loans since President Joe Biden entered office in January 2021. The agency first forgave $1 billion in March for 72,000 borrowers with approved fraud claims against colleges, universities and career schools. Another $500 million was forgiven in June for 18,000 loan holders under the same borrower defense rule. And $1.3 billion was also canceled in March for 41,000 borrowers with total and permanent disabilities. Now, as almost one in eight Americans owe a record high of $1.73 trillion in college

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Paramount Announces Major Investment Plan To Modernize And Reimagine 60 Wall Street Office Tower

60 Wall Street Base & Interiors to Receive Visionary Redesign by Architecture Firm KPF including Major Building Infrastructure Upgrades

Paramount has Tapped CBRE as Leasing Partner

NEW YORK, May 17, 2021 /PRNewswire/ — Paramount Group, Inc. (NYSE: PGRE) (“Paramount“) today announced plans for an extensive repositioning of 60 Wall Street’s base and interiors, including its soaring lobby and vast public atrium. With construction set to begin in summer of 2022, the postmodern building’s revitalization includes a transformative opening up of the facade, new triple height windows, the addition of a skylight to cast natural light into the

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Is Your Financial Plan Ready for Higher Taxes?

You can feel it in the air — tax increases are coming. And it’s not a matter of if, but a matter of when. In the last few months, there have been a number of legislative proposals targeted toward high-net worth and ultra-high-net-worth taxpayers, ranging from Sen. Bernie Sanders’s “For the 99.5% Act,” Sen. Elizabeth Warren’s “Ultra-Millionaire Tax Act” and Sen. Chris Van Hollen’s “Sensible Taxation and Equity Promotion Act.”

While each proposal focuses on a different wealth segment and type of tax, the common theme and sentiment is that higher taxes might

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What ‘Non-Financial Assets’ Should Be Included in Your Estate Plan?

Most estate planning attorneys do a fantastic job helping their clients set up the proper legal structures to transfer financial assets, but they often don’t consider the intangibles. That’s where legacy planning comes in. Legacy planning goes beyond your financial assets and considers your impact on your family and the world.

7 Components of a Non-Financial Legacy

Consider including these intangible components in your estate planning process:

1. Beliefs, Values and Vision

The first step is identifying what you believe in. I recommend writing a Personal Legacy Statement to serve as a compass to living in a way that creates

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Stock Market Rally Retreats, Bitcoin Dives Amid Biden Capital Gains Tax Plan; Netflix, Snap, United Airlines In Focus

The stock market rally suffered declines, in part on reports that President Joe Biden will propose nearly doubling the capital gains tax rate on the wealthy. But the Dow Jones, S&P 500 and Nasdaq all closed the week only slightly lower, while the Bitcoin price plunged. Medical plays such as Tenet Healthcare (THC) and Intuitive Surgical (ISRG) soared as earnings rebound with elective procedures. Snap (SNAP) and ASML (ASML) also were earnings winners, while Netflix (NFLX) and United Airlines (UAL) sold off on results.


Stocks Retreat Amid

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Biden Announces International Climate Finance Plan | National News

President Joe Biden on Thursday announced a new climate finance plan during his two-day summit that seeks to boost funding for developing countries.

“Today we are issuing America’s first ever international climate finance plan,” Biden said at his virtual climate change summit. “This plan represents our vision for financing the global climate response in a coordinated way. It lays out specific steps that federal agencies of the United States will take to increase both the quality and quantity of climate financing.”

Under the plan, the U.S. aims to double its climate financing to developing countries by 2024 relative to the

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