A new national study provides the best evidence to date that generous unemployment insurance benefits during the COVID-19 pandemic helped reduce reliance on high-cost credit use.

Researchers found that lower-income residents of states with more generous benefits were significantly less likely than those living in less-generous states to take out new credit cards, personal finance loans and payday loans or other alternative financial service offerings.

The study, published recently in the journal Nature Human Behaviour, was led by Rachel Dwyer, professor of sociology at The Ohio State University, and Stephanie Moulton, professor in Ohio State’s John Glenn College of Public Affairs.

The findings provide evidence that…

(Bloomberg) — Sign up for the India Edition newsletter by Menaka Doshi – an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.

India’s market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia.

The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt.

Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper…

A heavily pregnant woman is among Australians stranded in Vanuatu as the country’s national airline is placed into voluntary liquidation. On Thursday it emerged that all international flights scheduled on Air Vanuatu until Sunday had been cancelled, as the government “reviewed” the airline’s future.

In a statement to media, Air Vanuatu confirmed international firm Ernst and Young (EY) had been “appointed to assist the Vanuatu government” in operations moving forward. Merely hours after the announcement, on Friday morning Ernst and Young formally announced the embattled airline had been placed into voluntary liquidation, leaving hundreds of travellers stranded and staff in the lurch.

“Air Vanuatu is critical to the people of the Republic…

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Amy Xie Patrick, Head of Income Strategies at Pendal discusses the systemic issues facing the Chinese economy and the effects of liquidating Chinese property companies.

By Andrew Brown in Canberra

A record number of businesses have been placed into administration in the past year, an inquiry has been told, with advocates saying inflationary pressures are affecting multiple industries.

Officials from Australia’s corporate watchdog told a parliamentary inquiry into the cost-of-living crisis that 11,053 businesses entered external administration in the 2023/24 financial year.

ASIC commissioner Kate O’Rourke said while the proportion of businesses going into administration was not the highest, the past year had the most overall.

“The highest number in terms of proportion remains…

The incident took place in Zatewada on August 14, the Bhiwandi taluka police station official said.

A 35-year-old man allegedly killed a 74-year-old woman in Maharashtra’s Thane district to steal her gold ornaments. After committing the crime, he set the house on fire to destroy evidence. The man is an online gambling addict, said the police.

The incident took place in Zatewada on August 14, the Bhiwandi taluka police station official said.

The accused has been identified as Abhimanyu Gupta. He allegedly attacked Sevamary Augustin Nadar when she was alone and killed her. He then looted the…

Billionaire banking executive Jamie Dimon is supporting the Buffett Rule – a policy of increasing taxes on millionaires to reduce the national debt.

The CEO of JPMorgan Chase said he supports the idea that would impose a minimum tax rate of 30 percent on individuals earning over a million dollars annually. This comes as the national debt, nearing a million dollars per American family in 2017, remains a pressing concern.

The Road To A Trillion-Dollar Debt

Dimon – who recently expressed concerns about persistent inflation – offered his perspective in a Wednesday PBS interview. He suggested that reducing the national debt – surpassing $35.12 trillion – is achievable while maintaining significant expenditures on defence, infrastructure, and…

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Red Lobster, the popular seafood restaurant chain that has been around since 1968, has recently filed for bankruptcy. The company plans to sell its business to an entity formed and controlled by its existing term lenders.

Even though Red Lobster recently shut down 50 locations across the U.S., the company has said that its restaurants will remain open during the Chapter 11 process.

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In a press release, CEO Jonathan Tibus stated that filing for bankruptcy is “the best path forward” for the restaurant chain. The company has received a $100 million financing commitment from its existing lenders to continue…