• Sun, March 23, 2025

by: Econostrum

SBA Cuts 2,700 Jobs and Assumes Control of Student Loan Program - What It Means for Borrowers

The Small Business Administration (SBA) has announced a sweeping reduction of its workforce, cutting 2,700 jobs—nearly 43% of its staff. This comes as the agency embarks on the monumental task of managing the federal student loan portfolio,

by: SlashGear

Will Harbor Freight Deliver? Yes, And Here's How Much It'll Cost You

Believe it or not, Harbor Freight will deliver orders to you, but there are some oddities to dealing with the company. Here are the costs of its shipping.

by: Insider

Today's Mortgage Rates | Rates Are Supposed to Fall This Year. But What About Home Affordability?

These are today's mortgage and refinance rates. Mortgage rates are forecast to fall in 2025, but it might not make a difference in affordability.

by: Reuters

China reassures Apple, Pfizer, Cargill, others of business potential

China sought to reassure foreign corporate chiefs of the country's business potential when Vice Premier He Lifeng met with the heads of Apple , Pfizer , Mastercard , Cargill and others on Sunday.

by: News18

Bank Strike March 2025: Are Banks Open Or Closed Today, March 24?

The United Forum of Bank Unions declared a nationwide strike on March 24-25, demanding a five-day work week and other changes. The strike, however, was postponed indefinitely.

by: TheStreet

Popular athletic shoe chain files for Chapter 11 bankruptcy

Another huge athletic shoe retailer Foot Locker revealed in December 2024 that it would close 275 of its namesake locations by 2026 in addition to closing 125, or half, of its Cha

by: Reuters

Japan's factory activity declines accelerate, services sag, PMI shows

Japan's factory activity fell at the fastest pace in a year in March, dragged by declines in production and new orders in a worrying sign for the economy, a private-sector survey showed on Monday. The service sector,

by: Insider

Read the email Paul Weiss Chairman Brad Karp sent to staff after striking a deal with Trump: 'Clients perceived our firm as being persona non grata'

Paul Weiss Chairman Brad Karp sent an email to employees on Sunday explaining why the law firm struck a deal with President Donald Trump last week.

by: Reuters

China's vice premier reassures Apple, Pfizer, Cargill, others of business potential

BEIJING (Reuters) -China's Vice Premier He Lifeng sought to reassure foreign corporate chiefs of the country's business potential when he met with the heads of Apple, Pfizer, Mastercard, Cargill and others on Sunday.
  • Mon, March 24, 2025

by: cnbctv18

FM Nirmala Sitharaman to move Finance Bill in Lok Sabha today

The Finance Bill is a crucial part of the Union Budget. It includes tax proposals and other financial measures announced by the government.

by: Mint

How startups are using AI agents to scale quickly

In India's evolving startup landscape, AI is becoming a crucial partner, enabling companies to operate smarter and faster. Programs like AI Pitchfield offer support and mentorship, helping startups utilise AI to tackle significant challenges and drive innovation across various industries.

by: Moneycontrol

Markets went through a bull run correction, global growth intact: Ramesh Damani

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by: CNA

As Hong Kong hosts finance, sports and arts events, some say the city is getting its groove back

Some observers, however, have struck a cautious tone on Hong Kong's present and future, especially with the looming impact of tariff threats and trade wars coming from US President Donald Trump's administration.

by: BBC

DNA testing site 23andMe files for bankruptcy protection

Popular DNA testing firm 23andMe has filed for bankruptcy protection, and announced that its co-founder and CEO, Anne Wojcicki, has resigned with immediate effect. The company will now attempt to sell itself under the supervision of a court.

by: GOBankingRates

Trump Wants To Eliminate Income Taxes: 5 Ways This Could Impact Your Salary

During President Donald Trump's successful campaign bid last year, he proposed eliminating individual income taxes for all Americans and paying for the lost revenue by increasing

by: Yen

UK targets spending cuts to mend public finances

Britain's Labour government will deliver a highly anticipated fiscal update on Wednesday, with finance minister Rachel Reeves expected to detail billions of pounds of spending cuts to address the

by: TechRadar

23andMe is bankrupt and about to sell your DNA, here's how to stop that from happening

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by: Kiplinger

Road Toll Scam Texts are Still Going Around. Here's What to Look Out For

The link is made to look like it comes from your state's toll service name. If you received a text that seems to be a scam, the FBI suggests you file a complaint with the Internet Crime Complaint Center (IC3) including the phone number you received the text from and the website URL used in the text.

by: CoinTelegraph

Ethereum down 57% from its all-time high, but it's still worth more than Toyota

Despite trading at about half its all-time high, Ethereum's market capitalization of around $252 billion exceeds those of major global corporations like Toyota and Disney.

by: Bloomberg

Trade talks ramp up in race to avoid Trump's April 2 tariffs

Countries in the crosshairs of US tariffs are rushing to offer concessions and other defensive responses to White House demands in the final full week before President Donald Trump stages trade "Liberation Day.

by: Yahoo

Hawaii tax credits scrutinized by state lawmakers

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by: BBC

Experts identify 45 financial risks at Somerset Council

An independent report into Somerset Council's precarious financial position has identified 45 key risks - 32 of which have been given the highest risk rating. They include council reserves falling below £30m and delays to the council's restructuring programme.

by: Fortune

Malaysia is reportedly tracking the flow of Nvidia chips through the Southeast Asian country after pressure from Washington

The country's trade minister has reportedly formed a task force with the digital minister to tighten regulations around Malaysia's data centers.

by: Kiplinger

Social Security Fairness Act: Five Financial Planning Issues to Revisit

More money as a public-sector retiree is great, but there could be unintended consequences with taxes, Medicare and more if you're not careful.

by: Forbes

Trump's Presidency And Student Loans: What Move To Small Business Administration Means For Borrowers

Borrowers' loans will not be affected by the move to the Small Business Administration, but the transition may be rocky.

by: Moneycontrol

Term Loan: How it works? Check interest rate, features and eligibility

A term loan is a structured financing option with fixed repayment schedules, making it ideal for business expansion, home purchases, or major expenses. With flexible tenures and predictable EMIs, it helps borrowers manage their finances efficiently.

by: cnbctv18

New India Co-op Bank Case: Cops question RBI on audit lapses, more queries likely

The New India Co-op Bank has been under scrutiny since February. The RBI imposed strict restrictions on the Mumbai-based bank due to supervisory concerns.

by: Forbes

Revised Beneficial Ownership Information (BOI) Rule Exempts U.S. Companies From Reporting

U.S. businesses no longer have to comply with the beneficial ownership information (BOI) reporting filing requirements of the Corporate Transparency Act (CTA).

by: MarketWatch

My parents own a home that jumped 600% in value and now is worth $500K. I want them to sell it to me for cheaper and avoid tax issues. Who can help?

Have an issue with your financial adviser or looking for a new one? Email questions or concerns to picks@marketwatch.com.

by: TheStreet

Business Exit Planning: A Comprehensive Guide for Private Company Owners

Discover 6 effective ways to exit your private company, from selling to family transfer and ESOPs. Learn how to plan ahead, value your business and ensure a successful transition.

by: Insider

Anne Wojcicki quits as 23andMe files for Chapter 11 bankruptcy

The DNA testing company faced major hurdles in the past year, including a data breach and a failed take-private attempt by CEO Anne Wojcicki.

by: TheStreet

Retirement Budgeting Tips

Learn how to build a balanced retirement income plan. Practical tips on planning for future health care and inflation.

by: TheStreet

How Business Growth Affects Insurance Needs

As businesses grow, their risks evolve. What may have been a sufficient insurance policy in the early stages may no longer provide adequate coverage as operations expand, revenue increases, and new assets come into play.

by: Insider

What student-loan borrowers should know about Trump's plans to dismantle the Education Department

Trump said student loans will be transferred to the Small Business Administration as part of his plan to eliminate the Department of Education.

by: Insider

Big Four bet on AI agents that can do all the work and 'liberate' staff

Deloitte launched an agentic AI platform that it says will reduce costs by 25%, but questions remain about how its workforce will use the tool.

by: Insider

Snap's CEO sets new hires up to fail on their first day. He says it makes them more creative.

Snap CEO Evan Spiegel says he gives new hires an "almost impossible" task on their first day. Here's why.

by: Reuters

China touts business potential to US companies despite 'rising instability'

China's economy tsar, Vice Premier He Lifeng, sought to reassure foreign CEOs of the country's business potential, describing the economy as highly resilient, while global investment banks cautiously raised their 2025 outlook for the country.

by: Insider

Snap's CEO sets new hires up to fail on their 1st day. He says it makes them more creative.

Snap CEO Evan Spiegel says he gives new hires an "almost impossible" task on their first day. Here's why.

by: Reuters

British pound firms ahead of this week's budget update

Sterling climbed on Monday ahead of British finance minister Rachel Reeves' spring budget update later this week and as data earlier in the day showed that business activity in the UK's huge services sector picked up this month.

by: Reuters

DBS' new CEO eyes 'bolt-on' acquisitions to bolster tech capabilities

by: Reuters

Morning Bid: Tariff exclusion hopes prop up markets

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

by: Reuters

US retailers haggle with suppliers after Trump tariffs

U.S. retailers Walmart and Target are bickering behind the scenes with their suppliers over proposed price hikes on everything from cake pans, tote bags and toys to other merchandise.

by: Reuters

China's Sinopec to prioritise risk control in Russian oil purchases, exec says

Top Chinese refining major Sinopec Corp will prioritise "risk control" in purchasing Russian oil, which has similar quality for its value versus competing global supplies, a top company executive said on Monday.

by: Reuters

China's central bank to conduct medium-term loan operation on Tuesday

China's central bank said on Monday that it would issue 450 billion yuan ($62.03 billion) of one-year medium-term lending facility (MLF) loans on Tuesday.

by: Reuters

UK services firms provide relief to Reeves before tough budget update

Businesses in Britain's huge services sector reported a pickup this month, according to a survey that offered some comfort to finance minister Rachel Reeves ahead of a challenging speech on the economy and the public finances this week.

by: Reuters

Singapore core inflation rate at the lowest in nearly four years in February

Singapore's annual core inflation rate eased to 0.6% in February, data showed on Monday, and an analyst said the lowest reading in nearly four years meant an easing was possible at the central bank's policy review next month.

by: Reuters

Elliott discloses stake in RWE, calls for buyback increase

Activist investor Elliott (ECAL.UL) on Monday disclosed a stake of close to 5% in RWE , urging the German utility to significantly increase its 1.5 billion euro ($1.63 billion) share buyback programme.

by: Reuters

Sovereign fund Danantara Indonesia names 'dream team' of former presidents, Sachs, Dalio and ex-Thai PM Thaksin

New sovereign fund Danantara Indonesia on Monday unveiled its "dream team" to chart its strategy, which included ex-presidents and advisory roles for hedge fund manager Ray Dalio, economist Jeffrey Sachs and influential former Thai premier Thaksin Shinawatra.

SBA Cuts 2,700 Jobs and Assumes Control of Student Loan Program - What It Means for Borrowers

The Small Business Administration (SBA) has announced a sweeping reduction of its workforce, cutting 2,700 jobs—nearly 43% of its staff. This comes as the agency embarks on the monumental task of managing the federal student loan portfolio,
The Small Business Administration (SBA) has undergone significant changes, including the elimination of 2,700 jobs and the assumption of control over the Federal Student Aid (FSA) office's student loan program. This shift means that the SBA, traditionally focused on supporting small businesses, will now also manage aspects of student loan servicing, potentially affecting how student loans are administered. Borrowers might experience changes in loan servicing, customer support, and possibly the policies governing loan forgiveness or repayment plans. This move is part of a broader government initiative to streamline operations and reduce costs, but it could lead to uncertainties for student loan holders regarding the continuity of service and policy implementation.

Read the Full Econostrum Article at:
https://www.msn.com/en-us/money/personalfinance/sba-cuts-2-700-jobs-and-assumes-control-of-student-loan-program-what-it-means-for-borrowers/ar-AA1BuKBK

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