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3 Things to Know about the Restaurant Revitalization Fund (RRF) – SBA

The United States of America Small business Administration (SBA) officials today announced key details on application requirements, eligibility, and a program guide for the Restaurant Revitalization Fund (RFF). The restaurant industry in the United States has been among the hardest-hit sectors during the economic downturn caused by the COVID-19 pandemic. So interested applicants below are 3 importants things to Know about the Restaurant Revitalization Fund (RRF) – SBA.

The student loan bubble ‘is going to burst

A young American man holds up a dollar sign during an Occupy Wall Street rally against the high cost of college tuitions April 25, 2012 in New York. Scores of students and former students gathered to complain about the high cost of tuitions and college loans. April 25th marked the day when US student debt reached USD 1 trillion.

Checkout 10 Best Cryptocurrencies To Invest in for 2021

Cryptocurrency is digital money that isn’t managed by a central system like a government. Instead, it’s based on blockchain technology, with Bitcoin being the most popular one. As digital money continues to gain traction on Wall Street, more and more options become available. There are currently more than 5,000 cryptocurrencies on the market.

While you can use cryptocurrency to make purchases, most people treat it as a long-term investment. However, investing in cryptocurrency can be risky if you don’t know where to begin. These are the top 10 cryptocurrencies that are most worthy of investment in 2021.

Ex-Allianz CFO Wemmer Plans to Form SPAC to Target Insurance Deals

Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three decades, people familiar with the matter said.

Wemmer plans to raise about 250 million euros ($300 million) on the Amsterdam stock exchange in May, the people said, asking not to be identified discussing confidential information. He’s teaming up with Murray Wood and Santiago Corral, co-owners of insurance-focused investment firm Nazare Capital, to create the SPAC.

Auto Insurance Exclusions Bill Ready for US Senate Floor

The bill would allow policy holders to exclude risky drivers, in some cases.
Clearwater Sen. Ed Hooper wants to give drivers more options to keep their auto insurance costs down.

All members of the United States Senate Rules Committee supported the bill and it’s now ready for the Senate floor.

The bill (SB 420) would change a law that requires auto owners to obtain minimum insurance coverage for all driving age individuals in a household.

Morgan Stanley reveals $911 million Archegos loss as profit jumps

Morgan Stanley (MS.N) lost nearly $1 billion from the collapse of family office Archegos Capital Management, the bank said on Friday, muddying its 150% jump in first-quarter profit that was powered by a boom in trading and deal-making.

Morgan Stanley was one of several banks that had exposure to Archegos, which defaulted on margin calls late last month and triggered a fire sale of stocks across Wall Street.

S&P 500, Dow hit record highs on bank earnings boost

The S&P 500 and the Dow hit record highs on Friday after Morgan Stanley wrapped up quarterly earnings reports from the big United States banks with a profit surge, while optimism about a solid economic rebound put the main indexes on course for weekly gains.

Nine of the 11 S&P indexes were trading higher, with only the communication services (.SPLRCL) and information technology (.SPLRCT) indexes edging lower after outperforming in the previous session.

Coronation Merchant Bank posts N5.78b profit

Coronation Merchant Bank has announced N5.78 billion Profit Before Tax (PBT) for the full year ended December 31, 2020. The performance came despite the Covid-19 pandemic, which disrupted businesses through the year.

The bank made this known during its Sixth Annual General Meeting (AGM) at its head office in Lagos.

FBNQuest Mutual Funds returns 104%

FBNQuest Asset Management, a subsidiary of FBN Holdings, has held yearly general meetings for five mutual funds managed by the firm.

The funds are the FBN Balanced Fund, FBN Smart Beta Equity Fund, FBN Eurobond Fund, FBN Bond Fund and the FBN Money Market Fund.

Fed Govt lifts ban on new SIM activation

he Federal Government on Thursday lifted the ban it placed last year on the registration and activation of new Subscriber Identity Module (SIM) cards in the country.

The effective date for implementation, the government said is on Monday, 19th April 2021.

It however made National Identity Number (NIN) registration mandatory for registering new SIM cards.