Season of Shylock lenders: Micro-loan companies launch attacks on borrowers’ reputation to recover debts as more cash-trapped Nigerians take advantage of lending firms

Faced with cash crunch and hard times, many Nigerians now resort to borrowing money from micro-loan companies that resort to damaging the reputation of loan defaulters to recover debts, LESI NWISAGBO writes

Joshua Madubuike was going through a rough financial patch that most adults living in Nigeria could  relate with. He needed money urgently to solve a pressing need. He had reached out to the people around him but everybody was equally having a tough time. Though it was relatively a paltry sum, his efforts to raise the sum were to no avail. This was in

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Wall Street banks go into earnings season under a cloud of rising costs

The largest US banks report earnings this week under pressure to rein in ballooning costs, with Wall Street lenders being squeezed by rising pay and heaving spending on technology to compete with fintech challengers.

Both JPMorgan Chase and Bank of America, two industry bellwethers, have already raised their outlooks for expenses multiple times for this year. Now costs have emerged as “a great wild card for the quarter and for the outlook” of the industry, says John McDonald, senior analyst for large-cap banks at Autonomous Research.

For the third quarter, analysts expect bank earnings will be propped up by fees

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West Ham transfer news: Alphonse Areola signs from Paris Saint-Germain on season loan | Football News

West Ham have completed the signing of Paris Saint-Germain goalkeeper Alphonse Areola on a season-long loan, which includes an option to buy.

The 28-year-old, who has three France caps, spent last season in the Premier League with Fulham and, although he was unable to stop them from being relegated, his performances were enough to be named as the club’s player of the year.

Areola has also had loan spells with Real Madrid and Villarreal, and arrives at the London Stadium as a champion in both France and Spain as well as being part of France’s World Cup-winning squad in 2018.

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Morata returns to Juventus on loan from Atletico Madrid for 2021-22 season

The Spain international scored 20 goals for the Bianconeri in the last campaign, and will remain in Turin under the management of Max Allegri

Juventus have exercised their option to renew Alvaro Morata’s loan from Atletico Madrid for a further season.

After Morata returned to the club last year the Bianconeri had an option to extend the deal by a further 12 months, buy the Spain international or terminate the agreement this summer.

Juventus have chosen to keep hold of the 28-year-old forward for another campaign, with the deal set to cost them a further €10 million (£8.5m/$12m).

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