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Swedish clothing company H&M is planning to close 250 stores next year.On Thursday, CEO Helena Helmersson said in a press release that the coronavirus pandemic had played a role in the retail chain's decision since more shoppers were buying online."More and more customers started shopping online during the pandemic, and they are making it clear that they value a convenient and inspiring experience in which stores and online interact and strengthen each other," Helmersson said.Helmersson added that sales declined 5% in September compared to the same time last year."Although the challenges are far from over, we believe that the worst is behind us and we are well placed to come out of the crisis stronger," Helmersson said.H&M has 5,000 stores worldwide. No word yet on which stores will be closing. 821
The 2020 #TCSNYCMarathon, set to take place on Nov. 1, has been canceled due to coronavirus-related health and safety concerns. Registered runners will be contacted by July 15 regarding their cancellation resolution options, including a refund. Learn more: https://t.co/8TlWiekDss pic.twitter.com/mUnrcCayaz— TCS New York City Marathon (@nycmarathon) June 24, 2020 372
Thanks for coming out this weekend y’all! Yesterday we added 1,372 ?@MillerLites? to my tab, bringing our grand total to 4,838. Shout out to all the bars, their staff, and those cheers-ing from afar! Whether this is goodbye or see you next year, I love you Chicago! #JonsTab pic.twitter.com/OTEIO2gOjc— Jon Lester (@JLester34) November 2, 2020 351
Student loan debt has surpassed trillion. It's expensive to go to school, and loans help many afford higher-education but not all that money may be going toward tuition and books.A survey found that one in five college students are using some of their leftover loan money to dip their toes into virtual currencies like Bitcoin.The mere mention of cryptocurrency is enough to make Loyola University Maryland Assistant Accounting Professor JP Krahel cringe.“Oh, oh boy,” said Krahel with the Sellinger School of Business.Even worse, students are buying into it and they're using student loan money to do so.The allowance meant for living expenses is instead being invested into Bitcoin and Ethereum. The Student Loan Report found that's how 21 percent of current college students are using their excess financial aid money.“Given the unregulated market of cryptocurrency, given what we've already seen, proven volatility, and given the fact that student loan debt is something you can't get rid of in bankruptcy, I personally, without getting too hyperbolic here, I would not do that,” Krahel said.A warning from someone who knows money, but even his wisdom is not enough to convince some of his own students.“They'll say, ‘Oh, did you see what bitcoin did yesterday, I made x dollars,’ I'm like, children, come on. Your interest rates and student loans that's what you should be worried about. If you have free money, send it back to Sallie Mae, you know, pay that debt off early because that stuff starts snowballing and paying off debt is a guaranteed return on investment,” said Krahel.And yet it's hard to shake the promise of investing in a market that's produced millionaires from relatively low investments just several years ago.“I don't want to knock cryptocurrencies, they do have a value, but people are getting into it because of that volatility, because you could have a thousand today and ,000 tomorrow,” said Krahel. “So, if you're willing to only see the upside, cryptocurrencies are great but that's not the way life works.”Bitcoin's value has sunk ,000 in the last month and plummeted from its peak in December at nearly ,000.However, with every slump there's also the possibility of a rally. These students could prove their professor wrong or learn a real-life lesson about loss and spending wisely.Krahel said you should be borrowing the least amount of money possible so you have less to pay off in the future.Students are graduating with an average of ,000 in student loan debt. 2541
Student loan and eviction protections, as well as unemployment benefits, are among the host of pandemic related government programs set to end by the end of the year unless Congress acts. The issue is that members of Congress are not scheduled to be in Washington for several weeks between now and the end of the year. Breaks are scheduled over the Thanksgiving holiday as well as over Christmas and New Year's. The leaves just 15 business days to accomplish anything, otherwise these bills will likely go up come January WHAT'S EXPIRING Since March, 40 million Americans have enjoyed suspended student loan payments. That is scheduled to end come January 1st. While President-elect Joe Biden is considering an executive order to continue the program, he doesn't take office until January 20 and bills could be due before then. Additionally, unemployment benefits for independent contractors and the self-employeed, like Uber drivers or gig workers, are set to expire as well. Congress for months has also allowed those recently laid off to enjoy 13 bonus weeks of unemployment, but that program expires December 31 as well. Many states have eviction moratoriums but the CDC order banning evictions ends December 31st. Congress could pass legislation to extend it. Tens of millions could face evictions because of rent issues. WHERE THINGS STANDDemocrats and Republicans remain far apart on passing any legislation between now and January 1. COVID related legislation isn't the only concern either. Funding for the government runs out on December 11 and a bill must be passed to keep the government open before then. One major wildcard is President Donald Trump and what he may demand following his election loss. 1724