Eeshan Sharma, COO & Co-Founder, Mehul Nath Jindal, CEO & Co-Founder, Shyam Murugan, CTO & Co-Founder Bengaluru-based fintech startup BharatX raised $4.5 million in seed round from Y Combinator , 8i Ventures, Multiply Ventures, Soma Capital and others investors to enable embedded credit in the Indian market, the company said on May 12. The Y-Combinator-backed startup plans to use the funds to build and expand its team, work on products and expand footprint. Existing investor Java Capital also participated in the round, which also saw participation of several marquee angels including Arash Ferdowsi, Co-founder, Dropbox, Harshil Mathur, CEO & Co-Founder of Razorpay, Shashank Kumar, Founder of Razorpay, Varun Alagh, Co-founder & CEO of Mamaearth, Kunal Shah, Founder and CEO of CRED, Ankur Aggarwal, Co-founder of Dunzo, and Vikas Choudhury, President of Reliance Jio. ''We want to give the middle class of India easy access to credit products that they … [Read more...] about Y-Combinator-backed BharatX raises $4.5 million in seed round
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Student Loan Forgiveness Makes Blue-Collar Workers Pay For ‘Worthless Gender Study Degrees,’ According To Donald Trump, Jr.
Share to Twitter Share to Linkedin Donald Trump, Jr. has weighed in on student loan forgiveness — and here’s what he said. Here’s what you need to know. Student Loans Trump sharply criticized President Joe Biden’s potential plan to cancel student loans for millions of Americans. “Biden essentially wants blue-collar workers like truck drivers — who didn't have the luxury of going to college to get drunk for four years — to bail out a bunch of upper-middle-class kids who chose to spend tens of thousands of dollars that they didn't have on worthless gender study degrees,” Trump told The Washington Post. Trump is referring to one major criticism of wide-scale student loan cancellation . As many Republicans have argued, Americans who didn’t go to college or who couldn’t afford to go to college would pay student loan debt for the select few who could. According to the latest student loan debt statistics , approximately 80% of adult Americans don’t … [Read more...] about Student Loan Forgiveness Makes Blue-Collar Workers Pay For ‘Worthless Gender Study Degrees,’ According To Donald Trump, Jr.
Harrow School is dropping its British name in China
BEIJING (Bloomberg): Harrow, the 450-year-old British boarding school that produced seven prime British ministers including Winston Churchill, is dropping its British name in China as the country tightens controls on international schools. Harrow Beijing will change the name of its bilingual school to Lide after the Chinese government last year banned schools with Chinese students from using foreign names and words like "global” or "international” in their titles. "This is not irregular and does not reflect a specific change in the school’s policy,” said Jennifer Cooper, Head of Brand for Harrow in the UK, adding that the name change applied to only one part of Harrow Beijing. The Harrow International School in Beijing, which accepts foreign passport-holders and caters mainly to expatriates, will be unaffected. Harrow entered mainland China with much fanfare in 2020, but the operating environment has changed since then. Even before Covid lockdowns brought cities like Shanghai … [Read more...] about Harrow School is dropping its British name in China
Biden Administration And Jeff Bezos Square Off Over Inflation
Share to Twitter Share to Linkedin Topline A spat between the White House and Amazon founder Jeff Bezos over President Joe Biden’s fiscal policies intensified Monday, with Bezos accusing Biden of disregarding inflation while the White House claimed the billionaire is looking out for his own interests. Key Facts The argument began over the weekend, when Bezos criticized Biden for suggesting corporate tax rate increases could help ease a severe spike in inflation, a stance the billionaire called “misdirection” and a non-sequitur in a Saturday tweet. Bezos hit Biden again Sunday for his administration’s unsuccessful push to pass the multi-trillion-dollar Build Back Better social spending bill last year, arguing Biden “tried hard to inject even more stimulus into an already over-heated, inflationary economy.” By Monday, the White House pushed back in personal terms, claiming in a statement to several news outlets that Bezos is … [Read more...] about Biden Administration And Jeff Bezos Square Off Over Inflation
Student Loan Debt Statistics In 2022: A Record $1.7 Trillion
Share to Twitter Share to Linkedin Student loan debt in 2022 is now more than $1.7 trillion. The latest student loan debt statistics for 2022 show that there are 45 million borrowers who collectively owe approximately $1.7 trillion in student loan debt. Student loan debt is now the second-highest consumer debt category — second only to mortgage debt and higher than debt for both credit cards and auto loans. The Covid-19 pandemic has significantly impacted student loans. In March 2020, Congress responded with historic student loan relief, including pausing federal student loan payments. Both President Donald Trump and President Joe Biden extended the student loan payment pause multiple times. Biden paused federal student loan payments through August 31, 2022. Student loan cancellation has become the hot topic with student loans. For years, progressives in Congress have lobbied Biden to cancel up to $50,000 of student loans. The president has called on … [Read more...] about Student Loan Debt Statistics In 2022: A Record $1.7 Trillion
InCharge COO Terry O’Day: Fleet Charging EVs Is About To Get Real
Share to Twitter Share to Linkedin I ran into an old acquaintance at the 2022 ACT Expo in Long Beach last week. Terry O’Day has been involved with electric vehicles for over 25 years, and our paths have crossed, indirectly or maybe directly, here and there, over the years. O’Day is currently the Chief Operating Officer of InCharge Energy , and we talked about how InCharge fits into the fleet charging environment in 2022, how thinking through total cost of ownership convinces fleet managers and how cheap solar panels can show us a way to get more EVs to more people . But first, a bit of history . Terry O’Day : I’ve been in the EV charging business since 1996, it was my first job in my career and this is my fifth EV startup. My wife worked on the EV1 marketing and we were in the movie [2006’s Who Killed The Electric Car? ]. Sebastian Blanco : [ Disclaimer: I briefly appear in the sequel, Revenge of the Electric Car , released … [Read more...] about InCharge COO Terry O’Day: Fleet Charging EVs Is About To Get Real
Mideast sandstorms snarl traffic, close schools, harm health
The sandstorm badly hampered visibility in Riyadh. RIYADH - Sandstorms across the Middle East have delayed flights, closed schools and hospitalised thousands -- a phenomenon experts say could worsen as climate change warps regional weather patterns. Saudi Arabia on Tuesday became the latest country blanketed with dust that slowed traffic and made iconic towers in the capital difficult to see from more than a few hundred metres (yards) away. Emergency rooms in Riyadh hospitals had received some 1,285 people suffering from respiratory problems over 24 hours as a result of the sandstorm, the state-run Al-Ekhbariya channel reported. Electronic signs along Riyadh's highways warned drivers to reduce their speed because of the lower visibility, even as life largely went on as usual in the kingdom. The national meteorology centre predicted that "surface dusty winds" originating in the east and bringing a thick grey haze would continue west towards the Muslim holy cities of Mecca and … [Read more...] about Mideast sandstorms snarl traffic, close schools, harm health
Elon Musk proves once again that the rules don’t apply to him
New York (CNN Business) How do you regulate a man worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don't. Elon Musk has once again proven he'll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold . He shared this news in a tweet rather than in a formal filing with the Securities and Exchange Commission. The drama over the deal has continued to play out in a series of tweets between Musk and the company. Because the SEC ruled back in 2013 that using Twitter and other social media platforms are an acceptable way for public companies to disclose material information, this might be one of the legal ways he's flouted convention. But many other moves by Musk over the years have broken actual rules, not just skirted norms, yet none of it has slowed him down or changed his behavior. The financial penalties that regulators or business partners might put … [Read more...] about Elon Musk proves once again that the rules don’t apply to him
Segregation By Design: How one architect is visualizing the legacy of America’s racist urbanism
Walking around the north side of Philadelphia’s University City neighborhood, it’s difficult to imagine what stood before the sprawling University of Pennsylvania medical campus, replete with scores of half-empty parking lots and franchise restaurants. But for Segregation By Design , a new initiative that seeks to unearth the legacy of racist planning in American cities, the visual history is clear. What stood before University City was Black Bottom , a thriving Black working-class community whose proximity to Philadelphia’s urban core made it a prime target for the 1950s slum clearance, freeway construction, and redevelopment projects that decimated hundreds of low-income neighborhoods across the country. advertisement advertisement Segregation by Design, which takes the form of a blog-style website, various social media pages, and a forthcoming book helps long-time residents and the urban-curious alike visualize the legacy of racist … [Read more...] about Segregation By Design: How one architect is visualizing the legacy of America’s racist urbanism
Rising Credit Costs, Transaction Prices Slamming Auto Affordability, EV Adoption
Share to Twitter Share to Linkedin Monthly auto loan payments are at historic highs, transaction prices continue to climb and sticker prices are losing their relevance as car shoppers' wallets are being walloped by the effects of the Covid-19 pandemic including thin inventories, rising inflation and interest rates. Those conditions are dampening overall auto sales, but especially adoption of electric vehicles. It's not all bad news. Trade-ins are fetching lucrative payouts from dealers desperate for anything to sell, especially in-demand late model pickup trucks and SUVs. On the credit side, consumer load shows no sign of retreat. According to the Q1 2022 TransUnion TRU Credit Industry Insights Report released last week the average balance of new auto loans reached $28,415 in the first quarter of this year. That's a year-over-year increase of 15.2%. “This has pushed the average monthly payment of vehicle purchases (including both new and used … [Read more...] about Rising Credit Costs, Transaction Prices Slamming Auto Affordability, EV Adoption