Spending requirements: Only 60% of the loan funds would need to be spent on payroll, compared to the current 75%. Loan forgiveness period: This would be extended to 24 weeks, up from eight weeks. Deadline to rehire workers: This would be pushed back to a yet-to-be-determined date. It’s currently June 30. Other perks: Forgiveness recipients would now be allowed to defer payroll taxes. Restrictions on the PPP loans have been a significant point of contention for many small business owners, particularly those with physical storefronts who felt it made no sense to maintain payroll if their businesses weren’t allowed to operate during the pandemic. To make matters more complicated, guidance from the Small Business Administration kept changing, leaving some business owners worried that they could be accused of fraud if they spend the money the wrong way. … [Read more...] about Paycheck Protection Program rules could get easier under House bill: Here’s what it would do
House appropriations committee
3-Point Analysis | These companies may gain as global supply chain gets reconfigured Big Story | Decoding the importance of CSR for corporates Ideas For Profit | Is elevated rural exposure Dabur's Achilles heel? … [Read more...] about Ideas For Profit | Will HDFC’s resilient performance hold out amidst COVID-19 uncertainty?
In California, foster youth are able to stay in care until they turn 21. “At 21, you’re on the street, you’re emancipated,” says Supervisor Dave Cortese, one of Santa Clara County’s five elected supervisors. At that point, the transition into adult life can be tough. “Not to stereotype,” Cortese says, “but traditionally, it’s a cohort that would be overrepresented in clinical mental health problems, homelessness, and food anxiety.” A study conducted among transitioning Midwestern foster youths showed that 29% of the individuals had become homeless by age 23 or 24. … [Read more...] about This $1000-a-month universal basic income program is designed to help foster youth survive
"Under the partnership, the students, the faculty and the research infrastructure of the university will act as the research backbone of the MegaLab project, which will be based on the end-to-end Kodoy indigenous technology stack and will have adequate capacity for testing the entire population of Mumbai for infectious diseases, each month," said Ravi Sharma, the council president. … [Read more...] about COVID-19: Mumbai University partners with IIT Alumni Council’s MegaLab project
Covid’19-related shutdowns hurt an otherwise healthy year for ABFRL. It reported 7.7% revenue growth and a 16% EBITDA drop in FY20. The `10bn rights issue as a risk-mitigation strategy would strengthen the balance sheet. The inherently strong brands and otherwise healthy working-capital cycle are its key strengths. The stock price has fallen ~36% since the lockdown with concerns about demand revival uncertainty and mounting debt. On the extended lockdown and higher fixed costs than previously expected, we cut our FY21e/FY22e revenue 6.3%/8.3%, EBITDA 44.5%/25.0%. We maintain our Buy rating with a lower TP of `137 based on 18x FY22e EV/EBITDA. We believe the ability to control fixed costs and demand revival are key monitorables. … [Read more...] about Buy Aditya Birla Fashion and Retail target of Rs 137: Anand Rathi