Loan

Photo: Nevada Division of Environmental Protection Great news for EVs: Lithium Nevada got the green light for a $2.26 billion loan from the US Department of Energy to finance a lithium carbonate processing plant. Once the Thacker Pass mine and processing plant in Humboldt County are online, they will become North America’s largest source of lithium for EV batteries. The Thacker Pass processing plant will produce around 40,000 tonnes of lithium carbonate annually for the use of EV…

A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024.Mike Segar | ReutersRegional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year's banking turmoil nears.Shares of the troubled lender plunged 25% Friday to below $4 apiece after NYCB restated recent quarterly earnings lower by $2.4 billion, formally replaced its CEO and delayed the release of a key annual report.The most worrying development,…

Maria Diaz/ZDNETApple and Experian just announced that Experian consumer credit reports will include Apple Pay Later loan information beginning today. Experian reports that this makes Apple the first major buy now, pay later (BNPL) service provider to directly give the credit reporting agency loan information and payment history. Loans borrowed today will appear on the borrower's Experian credit report with a BNPL designation starting on March 1, but this data won't affect credit scores -- at least not initially.…

The corporate affairs ministry is probing various Chinese companies, especially those with links to loan apps, for alleged violations and some of the investigations are at an advanced stage, according to a senior official. In recent times, Indian authorities have been cracking down on entities that are operating loan apps illegally and the ministry has also been acting against companies and related individuals for hiding beneficial ownership. The senior official told PTI that enquiries by the ministry are going on against…

Digital Trends February is celebrated as Black History Month to honor Black Americans’ remarkable achievements and contributions. The theme for this year is “African Americans and the Arts,” which shines a light on the impact of African Americans in different artistic fields, such as cultural expression, visual and performing arts, fashion, literature, and more. In this regard, we present a list of popular iOS and Android apps developed by Black-owned businesses and cover various topics such as finance,…

The tentative timeline shared by fintech firm Paytm to resolve operational challenges coming in the way of its lending business and restart sanctioning of new loans is ending on February 14. One97 Communications president and chief operating officer Bhavesh Gupta in a company conference call on February 1 had said that the company will not be issuing new loans for "maybe a couple of weeks" before resolving operational challenges posed due to RBI restriction Paytm Payments Bank Limited (PPBL). The central bank, on January…

Indian non-bank lenders are looking at options other than Paytm for loan disbursal, worried about the regulatory crisis engulfing the firm that has led to a temporary halt of lending services, sources with direct knowledge of the matter said.Paytm's banking unit on January 31 was hit by a central bank order to wind down its business due to persistent non-compliance with rules and a day later Paytm said it would not be originating loans for "maybe a couple of weeks" to resolve operational challenges.If Paytm's lending…

Model-Free Evidence: Cumulative Distribution Functions of Dealer Markups Underlying the Gender and Racial GapsNotes. (a) More women than men are charged nonzero markups (in bps), given the rightward shift in the cumulative distribution function for women relative to men. (b) Dealers charge minorities nonzero markups more frequently than they charge nonminorities. Credit: Marketing Science (2023). DOI: 10.1287/mksc.2022.0295 New…

Credit: Pixabay/CC0 Public Domain A new paper in the Quarterly Journal of Economics finds that a new form of digital technology—essentially preventing people from using an asset for which they have a loan if they don't make payments, rather than repossessing the asset itself—may be a better way for lenders to secure loans, particularly for loan recipients in developing countries. …

Chinese criminal syndicates and gangs operating digital loan shark scams are expected to further dent the Indian economy in 2024, warns cybersecurity law expert Pavan Duggal. The surge in illegal activities, through Chinese loan apps, has raised concerns about the exploitation of unemployed youth and financially-stressed individuals in India.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of…