One of the top private banks was flirting with cash-rich private equity funds for several months to gain some confidence capital. In the end, the PE funds gave it a pass. What happened? Market grapevine has it that the CEO lost patience with the hard bargaining by the investors. The bank is still hopeful of PE backing. It has launched a hunt for funds with other private equity firms, citing the example of an investment by a marquee investor in 2017. But a little birdie tells us that the PE industry is keeping its purse strings tight on this one. They are of course happy to be lavish with what they think are ace performers. Can’t blame anyone to cautious with money amid a pandemic. … [Read more...] about MC Insider: String of exits at private lender, hurting Chinese ownership, deadly COVID secrets in banking and more
Experts feel that the momentum is likely to weaken in most of the companies which have seen a steep fall in the last one year largely on account of fall in demand due to global factors as well as COVID-19 outbreak, but consumer discretionary stocks could see some recovery as lockdown opens. … [Read more...] about These lucky 7 midcaps turned largecaps in the last one year; time to buy?
The United States Postal Service has just announced sweeping changes to its leadership ahead of the 2020 elections, reports Business Insider. These changes will see a major reorganization of executives at the service and, direly, could mean delays of medicine deliveries for seniors, paychecks for workers, and mail-in ballots for voters, top Democrats have warned. … [Read more...] about What’s happening with the USPS? Here’s the deal with its shakeup before the surge of mail-in ballots
Kenneth’s choice is reflective of a larger debate taking shape over whether the weekly $600 benefit should be extended in the next stimulus bill. Treasury Secretary Steven Mnuchin echoed concerns that it could disincentivize work for some people, despite several studies that find there’s no evidence of negative effects on the labor market, or on the relationship between the extra money and people staying at home. As economist Ioana Marinescu, who coauthored one study, observes on Twitter, “It can both be true that $600 is a disincentive to find a job in some cases as @stevenmnuchin1 says, AND that this has no effect on employment. When there are too many applicants for the few jobs we have, one person not applying makes no difference to the job being filled.” Neither can workers simply quit their jobs to obtain UI benefits, including pandemic unemployment assistance, because that is considered fraud by the U.S. Department of Labor. … [Read more...] about Gig work used to be a recession-proof safety net. Not anymore
Other researchers are finding ways to apply water purification technology to air filtration. Chris Arnusch, a water research professor at Ben Gurion University (BGU), also in Israel, spent five years developing porous graphene membranes with antimicrobial and antiviral properties for use in water purification. Now, he’s trying to validate the technology for air, with an eye toward adapting it for masks or air filters. Pure graphene is an atom-thick layer of graphite, a component used in pencil lead, that’s incredibly strong and conducts electricity. Arnusch creates a foam-like form of graphene for his filters by training a laser on plastic surfaces. Armed with seed funding from BGU and the Israeli government, he’s now teaming up with a startup to commercialize this and other products. … [Read more...] about The future of face masks: Copper, graphene, and self-sanitizing fabric