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Equitas Small Finance Bank may launch IPO on October 20

October 14, 2020
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| finance



Equitas Small Finance Bank may launch IPO on October 20


© India Today Group
Equitas Small Finance Bank may launch IPO on October 20

The initial public offer (IPO) of Equitas Small Finance Bank (ESFB) is expected to be launched on October 20, 2020. The issue was earlier scheduled for subscription by the end of March 2020. However, the offer was put on hold due to the spread of COVID-19 disease.

Equitas Small Finance Bank (ESFB) had earlier filed the draft red herring prospectus (DRHP) on December 16, 2019.

The fresh issue of equity shares for its proposed IPO was revised recently downward to Rs 280 crore from Rs 550 crore planned earlier. The IPO consists of a fresh issue of 8 crore equity shares and an offer for sale of 7.2 crore equity shares.

“The size of the fresh issue has been reduced from up to Rs 5,500 million (Rs 550 crore) to up to Rs 2,800 million (Rs

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Soaring commercial auto insurance rates, onerous conditions ‘killing us,’ small businesses say

October 13, 2020
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| insurance

For more than five years, Frank Hunt’s moving company has been a pillar of his community in Barrie, Ont., but he says his award-winning business is now on its knees — and he blames his insurance company. 

“They’re killing us. They’re literally shutting down the business,” he told CBC News. He says onerous demands from his insurer have led to a loss of about 75 per cent of his revenue.

Hunt, 73, says his company pays about $10,000 for commercial vehicle insurance each year. He says there have been no claims or accidents. “Not even a broken windshield,” he said.

His problems began in May, when his insurer suddenly demanded his drivers upgrade their licences to beyond what Ontario’s Ministry of Transportation requires. He and his drivers are legally allowed to drive the company’s five-ton moving trucks with a basic G licence.

“This year, the insurance company comes up with,

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S&P 500 Weekly Update: Dow Transports And Small Caps Lead This Leg Of The Rally

October 10, 2020
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| business

“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side.” – Jesse Livermore

Anyone who follows the equity market realizes that they are faced with what I described last week as a foggy outlook in the near term. When that occurs, I try not to get swayed and then sidetracked into forgetting the long-term trends that are in place.

An investor has to be reactionary waiting for the market to give them clues, then reacting appropriately. I take my leads from price action, momentum, sentiment, and other indicators. All designed for me to decipher what the market is telling me. Never drifting too far from the one key that serves as the foundation of my current strategy. That is staying focused on the major trend that is in place, and that remains without question in favor

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SBA simplifies PPP forgiveness for small loans

October 9, 2020
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| business

The Small Business Administration (SBA) and Treasury Department announced that they are simplifying the loan forgiveness application for Paycheck Protection Program (PPP) loans under $50,000.

“We are committed to making the PPP forgiveness process as simple as possible while also protecting against fraud and misuse of funds,” Treasury Secretary Steven MnuchinSteven Terner MnuchinOn The Money: Trump says talks on COVID-19 aid are now ‘working out’ | Pelosi shoots down piecemeal approach | Democrats raise questions about Trump tax audits House Democrats to unveil bill to create commission on ‘presidential capacity’ Trump’s new Iran sanctions raise alarm over humanitarian access MORE said Thursday evening, calling for additional simplification through legislation.

The simpler, two-page form businesses can fill out to have their PPP loans forgiven is meant to ease burdens on struggling small businesses.

Small-business groups praised the move.

“We are thrilled about this new SBA and Treasury interim guidance to

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Hard-hit small businesses face long winter without lifeline

October 9, 2020
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| business

The struggle to reach a deal to revive the paycheck program just weeks before the election is all the more surprising because it’s one of the few issues that has had strong bipartisan support throughout the pandemic. Lawmakers overwhelmingly backed the program, which provided $525 billion to more than 5 million businesses, and employers embraced it because they could convert the loans to grants if they agreed not to fire workers.

But PPP has become hostage to bigger fights over the size of the entire rescue package, with Republicans refusing to agree to more than $2 trillion in spending sought by Democrats.

“The failure to pass continued relief should be met with far more outrage,” said John Lettieri, co-founder of the Economic Innovation Group think tank, and a former Senate aide. “It’s absolutely shameful.”

Now, restaurants, retailers and other small businesses that have been among the hardest hit face existential

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What’s Driving Small Cap ETF Performance Right Now?

October 8, 2020
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| business

While investors may like the safety and security of large caps, particularly in today’s uncertain market environment with Covid-19 and a forthcoming presidential election, small caps are starting to show signs of life. What exactly is causing small cap ETFs to heat up right?

“Wall Street has been experiencing a roller-coaster ride over the past few weeks as election uncertainty and lack of additional stimulus continue to weigh on investor sentiments,” a Yahoo! Finance article noted. “Against this backdrop, small caps are clearly outperforming. This is especially true, as the Russell 2000 Index has risen 11.4% over the past three months compared to gains of 6.9% for the S&P 500, 7.8% for the Nasdaq Composite Index and 7.3% for the Dow Jones.”

One of the reasons the article cited was growing optimism from investors.

“Though the latest economic data has been mixed, Americans have become optimistic about the economy with

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Is A Second Stimulus Check Coming? President Trump Charts New Course, Money For People, Airlines, Small Business

October 7, 2020
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| money

KEY POINTS

  • Trump accused Democrats of holding $1,200 stimulus checks hostage to aid for cash-strapped state and local governments
  • The president is still recovering from COVID-19 and is taking a steroid that interferes with thought processes and causes aggression
  • Trump’s shift in direction comes as the recovery from the coronavirus-induced recession appears to be losing steam

After putting the kibosh on further coronavirus stimulus negotiations, President Donald Trump Wednesday urged Congress to send him a trimmed-down measure that would provide $1,200 payments to individuals, along with funds to shore up the airlines and small businesses.

Trump sent the Dow Jones Industrial Average into a more than 375-point dive Tuesday, tweeting he had ordered an end to negotiations between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. The two sides were more than $500 billion apart on the size of the next round of stimulus. The president said there would

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Crowdfunding Success Indicates Small Businesses And Startups Worthy Of Government Matching Program

October 7, 2020
| No Comments
| business

crowdfunding, regulation crowdfunding, Reg CF, JOBS Act, investment crowdfunding

The crowd signaling its support of a small business or startup by providing it with debt of equity … [+] investments.

getty

Community-focused investing has funded local small businesses and startups across the US. Since 2016, half a billion dollars has been raised from investment crowdfunding, generating $2 billion in economic activity and supporting 100,000 jobs.

According to Regulation Crowdfunding by Congressional District: A Report Card by Crowdfund Capital Advisors, Congress can encourage this more by creating the Main Street Recovery Co-Investment Fund. The United Kingdom has already done this to great success. It worked so well that Fund was re-upped twice, including to support small businesses impacted by the coronavirus pandemic.

A critical lesson from the 2007-2009 financial crisis was that access to capital for small businesses matters. Small businesses were hit harder than large companies by the Great Recession. During and for a period after the financial

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Dow Jones Posts Small Gain as Boeing Predicts Tough Decade Ahead, Walmart Launches Insurance Business

October 6, 2020
| No Comments
| insurance

The stock market was volatile on Tuesday after posting solid gains to start the week. The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.37% at 1:10 p.m. EDT today, outperforming the other major indexes.

One thing keeping the stock market in check could be comments from Federal Reserve chairman Jerome Powell, who warned on Tuesday that too little government aid would lead to a weak economic recovery. Congress has yet to agree on additional stimulus measures, and an agreement does not appear close.

Shares of Boeing (NYSE: BA) were moving in the wrong direction on Tuesday after the airplane manufacturer predicted a difficult decade ahead. Meanwhile, the stock of Walmart (NYSE: WMT) was little changed after the retailer announced an insurance brokerage business.

An airplane.

Image source: Getty Images.

Boeing forecasts tough years ahead

The coronavirus pandemic has greatly reduced demand for air travel. While the number of daily air passengers

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D.C. residents to see small increase in health insurance marketplace rates

October 5, 2020
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| insurance

Rates for individual coverage will increase overall by 0.2 percent and rates for small-group coverage, such as small businesses, will decrease by 0.5 percent, according to the D.C. Department of Insurance, Securities and Banking, which reviews and approves rates for the online marketplace.

The 2021 rates are a “big win for D.C. residents in making health care more affordable and accessible,” said William Borden, a professor of medicine and health policy at George Washington University. He pointed to how people have struggled to keep up with rising health insurance premiums, even before the novel coronavirus took hold.

“Having health insurance is clearly associated with better health outcomes, and so if there was going to be a sharp increase in insurance premiums that really could be devastating, especially as individuals, small businesses are already struggling financially,” Borden said.

Insurers initially asked for rate increases as high as 30 percent, but most

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