Yahoo News

Several prominent Democratic lawmakers are asking the Education Department (ED) about student debt collection practices in the face of a potential wave of student loan defaults when the pandemic payment pause expires, Yahoo Finance has learned. “With student loan and interest payments scheduled to resume on October 1, 2021, and a wave of loan delinquencies and defaults likely to follow, we are concerned about the Department resuming these payment collections and are seeking information about… Source link

The U.S. men’s national basketball team got a reality check on the road to Olympic gold this week, losing two consecutive exhibition games against Nigeria and Australia. But for Mark Tatum, the deputy commissioner and chief operating officer of the NBA, those defeats marked a victory of sorts, in the league’s decades long quest to internationalize the game of basketball. “The world is getting better, and I think that makes basketball a much more attractive game for the world to… Source link

The meme stock craze has cooled off — at least temporarily. Over the past week, favored equities GameStop (GME) and AMC (AMC) have plummeted, dropping about 10% and 21% respectively.  The decline affirms the fears of observers who had warned that a pullback was likely for shares elevated by what some consider speculative trading.  In a new interview, Franklin Templeton (BEN) CEO Jenny Johnson — whose investment firm manages more than $1.5 trillion in assets — criticized the trading as… Source link

The growing number of COVID cases in the U.S. indicates a major divide between the vaccinated population and those who choose to remain unvaccinated. The 7-day moving average of new cases increased by 16% last week, according to CDC data, and roughly 93% of those cases were among counties with low vaccination rates.  “The problem is we have a tale of two pandemics,” Dr. Andre Campbell, a California-based ICU physician and trauma surgeon, said on Yahoo Finance Live recently (video above)…. Source link

Delta Air Lines (DAL) on Wednesday reported a narrower than expected loss in the second quarter, with “accelerating demand” putting the airline back on a path to profitability. Here are the main results from the Q2 report, compared to consensus estimates compiled by Bloomberg: Adjusted pre tax income (loss): $881 million vs ($898 million) estimate Adjusted earnings (loss) per share: ($1.07) vs ($1.42) estimate GAAP earnings per share: $1.02 vs (0.17) estimate Revenue: $6.3 billion vs. $6.3… Source link

TORONTO, Ontario and BROSSARD, Québec, July 14, 2021 (GLOBE NEWSWIRE) — Bitfarms Ltd. (“Bitfarms”, or the “Company”) (NASDAQ: BITF // TSXV: BITF), a publicly traded Bitcoin mining company, currently powering an estimated 1.5% of the Bitcoin network with greater than 99% green hydroelectricity, today announces a Bitcoin production update. Mining Production Highlights as of July 12, 2021 Using green hydroelectricity, Bitfarms mined 1,357 Bitcoin in the first six months of 2021, the… Source link

Mark Zuckerberg said he wouldn’t know what to do with the $1 billion Yahoo offered to buy Facebook, a new book said. Zuckerberg said he’d probably just build another version of Facebook, per an “An Ugly Truth.” Lots of Facebook staff quit after Zuckerberg rejected Yahoo’s offer in 2006, the book said. … Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, July 14, 2021 Pandemic pressures linger but new pressures emerge June’s inflation data was a barnburner.  Data from the Bureau of Labor Statistics published Tuesday showed the consumer price index (CPI) rose 5.4% over last year on a headline basis, and 4.5% on a core basis. That measure strips out the more volatile components of food… Source link

Australians will soon be able to spend crypto via existing brick-and-mortar point-of-sales with the issuance of a new physical debit card, the Australian Financial Review reported Wednesday. Global payments giant Visa has approved local Australian startup CryptoSpend to begin issuing debit cards for the startup’s users. Those using the CryptoSpend app can then pay using their bitcoin and other supported crypto at retail stores and hospitality venues. Instead of needing to convert from crypto… Source link

The IRS is paying out 4M surprise tax refunds this week — will you get one? Millions of Americans still reeling financially from the COVID crisis will be sent surprise tax refunds this week, the IRS says. Unexpected direct deposits and paper checks are scheduled to go out to people whose tax bills were reduced after they’d already paid them, thanks to a provision in President Joe Biden’s massive pandemic rescue bill from March. A windfall from the IRS might be just the cash infusion you need… Source link