Each year, food companies and supermarkets donate millions of meals to hunger relief nonprofits like the Greater Boston Food Bank, a massive warehouse with two-story-tall refrigerators. Around the country, a sophisticated network of food banks and pantries helps feed people every day. But despite the billions invested in the system, it’s designed to mitigate hunger, not fix the underlying problems that cause it: millions of people in the country still rely on donated food—even if they have full-time work. advertisement advertisement “We have the most-efficient emergency food system, and we have historically low unemployment,” says Noreen Springstead, the executive director of the nonprofit WhyHunger. “And still 40 million Americans are hungry.” Hunger is less a problem of food scarcity than of poverty, she argues. And that means that the country’s system of hunger relief, and the philanthropy supporting it, needs to continue to … [Read more...] about Can food banks put an end to hunger if their biggest donors are the cause of the hunger?
Power bank keeps turning off
Non-banking finance companies (NBFCs) may get some relief from higher borrowing costs going forward as banks pass on the benefit of lower interest rates to select players.While lending to the sector improved in the fourth quarter, the funding gap still remains wide. This is reflected in the multifold rise in the number of retail bond issuances by NBFCs in the financial year 2018-19.Attractive coupon rates coupled with good appetite for the public debt instruments is likely to keep the figure high this year.Close Borrowing costs to go down related news Cabinet clears bill to replace ordinance on tax reduction Glitches at NSE need to be fixed, says Sebi chief Sebi tightens loan default disclosure norms, reduces time for rights issue NBFCs that have been grappling with higher cost of funds since past two quarters may get some relief as loans to the troubled sector are likely to get cheaper with banks offering lower lending rates this year as compared to 2018-19.Borrowing costs … [Read more...] about Banking wrap: NBFCs diversify funding sources; IBBI releases Q4 update on insolvency cases
Indian benchmark indices are trading flat with Sensex up 6.64 points or 0.02 percent at 40351.72, and the Nifty is down 1.60 points at 11911.90. Among the sectors, Nifty Energy gained half a percent led by Reliance Industries which jumped over 2 percent followed by ONGC, Gujarat Gas and GSPL.Auto stocks are also buzzing led by gains from Eicher Motors which gained 2 percent followed by Mahindra & Mahindra, Hero MotoCorp and Tata Motors.The top Sensex gainers included Tata Consultancy Services which spiked 3 percent followed by Reliance Industries, Tata Steel, Mahindra & Mahindra and Tata Motors. The top losers included Infosys, ITC, State Bank of India, Larsen & Toubro and ICICI Bank.Close Britannia Industries jumped close to 5 percent after Citi retained buy call on the stock while GAIL India, Zee Entertainment, Grasim Industries and Adani Ports are the top Nifty losers. related news Yes Bank share price reverses early losses on NPA divergence, up 3% Kalpataru … [Read more...] about D-Street Buzz: Nifty Energy gains led by RIL; TCS jumps 3%, YES Bank most active
ICICI Bank share price gained 0.92 percent intraday on November 20 as brokerage house Macquarie remained bullish on the stock and raised target price by 25 percent on strong return on equity (RoE) going ahead.The stock shot up 44 percent in the last nine months and was quoting at Rs 495.35, up Rs 2.20, or 0.45 percent on the BSE at 1036 hours.While maintaining outperform on ICICI Bank, Macquarie raised target price to Rs 615 (from Rs 490 earlier) which implies a 25 percent potential upside from the current levels.Close "The bank is our marquee idea and the top pick in financial space. It is focussing on operating profit and containing provisions to 20-25 percent of pre-provision operating profit," said the global brokerage house. related news Yes Bank share price reverses early losses on NPA divergence, up 3% Kalpataru Power sells subsidiary, share price rises 6% Shree Cements share price rises 4% after fixing floor price for QIP The research firm believes the bank … [Read more...] about Brokerages bullish on ICICI Bank, see 20% further upside despite rallying 44% in last 9 months
The Indian benchmark indices are trading on a positive note with Sensex up 213.98 points or 0.53 percent at 40500.46, and the Nifty gained 53.10 points or 0.45 percent at 11925.20.Nifty PSU Bank is the outperforming sector, up over 3 percent after Supreme Court sets aside NCLAT judgement giving upper hand to banks.The court has held that it is the bank's decision to maximise the value of he corporate debtor and added that the CoC should also balance the interests of all stakeholders.Close The top gainers from the banking space included State Bank of India which jumped 4 percent followed by PNB, RBL Bank, ICICI Bank, Bank of India, Canara Bank, Syndicate Bank and Oriental Bank of Commerce. related news Yes Bank share price reverses early losses on NPA divergence, up 3% Kalpataru Power sells subsidiary, share price rises 6% Shree Cements share price rises 4% after fixing floor price for QIP Auto stocks are also buzzing led by gains from Tata … [Read more...] about D-Street Buzz: Nifty PSU Bank outshine led by SBI; Tata Motors rises, Fortis Health tanks 14%