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Report: Taxpayers Face $400B Hit On Bad Student Loans

PYMNTS

taxpayers stand to absorb a hit of about $435 billion from borrowers’ failure to repay student loans currently on the federal government’s book, the Wall Street Journal reported Saturday (Nov. The figure, which approaches banks’ losses during the 2008 sub prime mortgage crisis, resulted from an analysis performed by the U.S.

NOV 113
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Alibaba Single’s Day 2020: Sales Records Broken, But New Chinese Regs Spoil The Party

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Alibaba ’s Singles Day performance on Wednesday (Nov. Singles Day — Alibaba’s popular shopping holiday that takes place every Nov. However, the company technically started Singles “Day” on Nov. According to Bloomberg , “during the first 111 minutes of sales on Nov. 11) shows that the Chinese consumer is back — big time.

Regs 95
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Airbnb Establishes Host Endowment Ahead Of IPO

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Airbnb was founded in San Francisco in 2008 by Chesky; Joe Gebbia, chief product officer; and Nathan Blecharczyk, chief strategy officer. Its filing will be available after the Nov. Additional efforts are being planned to support hosts prior to the upcoming IPO, which is anticipated to happen before 2020 is over. . 3 election.

NOV 95
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Mix-N-Match Fake Shopping Holidays For Fun And Profit

PYMNTS

Back in 2010 after the 2008 market crash, American Express wedged in a new commercial holiday between Black Friday and Cyber Monday, dubbed Small Business Saturday. This year, it falls on Nov. For its part, Alibaba ’s Singles’ Day event on Nov. Now as then, Amex is mobilizing cardholders behind beleaguered SMBs. 11 did $74.1

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LendingClub Q3 Loan Volume Snaps Back 80 Pct

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LendingClub , the country’s top provider of personal loans, said in earnings results Wednesday (Nov. Management said it is encouraged by the fact that today’s household balance sheets compare favorably to the 2008 recession year. That would bring the total to $850 million to $900 million for the quarter.

Volume 111
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JPMorgan: Spiking COVID-19 Signals Likely Q1 GDP Slump

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Morgan economists said in a new forecast, CNBC reported Friday (Nov. By comparison, at the peak of the Great Recession in 2008 GDP only lost 8.4 A growing wave of coronavirus cases and related restrictions could trigger a decline in first-quarter gross domestic product (GDP), J.P. Disposable personal income dropped $636.7 percent.

Economy 78
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Google's Former CEO Schmidt Invests In New $111 Million EU Tech Fund

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Schmidt, whose net worth is $20 billion, according to the Bloomberg Billionaire Index, put an undisclosed amount into the fund, which was announced Monday (Nov. Former Google CEO Eric Schmidt is among the backers of a new $111 million European early-stage venture capital fund, according to CNBC.

NOV 63