Coronavirus Business Update: Fears of ‘debt tsunami’ as governments ramp up borrowing

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Latest news

  • The global oil market will remain oversupplied until early 2022, according to the president of the Dallas Federal Reserve

  • UK regulator Ofgem is proposing a rise in energy bills to offset suppliers’ pandemic debts

  • Scotland plans to vaccinate up to 1m people before the end

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U.S. 31 ramp, lane closures planned near Muskegon this week

MUSKEGON, MI – Travelers on U.S. 31 near Muskegon may run into delays this week as roadwork continues with lane and ramp closures.

Lane closures are scheduled on southbound U.S. 31 between M-46 (Apple Avenue) and Russell Road north of Muskegon between 7 a.m. and 6 p.m. on Tuesday and Wednesday, Nov. 17-18, according to a notice from the Michigan Department of Transportation.

On Thursday and Friday, Nov. 19-20, lane closures in the same area — between M-46 and Russell Road — will be in place on northbound U.S. 31 between 7 a..m. and 6 p.m.

On Thursday, Nov. 19, the ramp at North Muskegon Exit 116 will be closed from 8 a.m. to 2 p.m., according to MDOT. That ramp moves traffic from northbound U.S. 31 to southbound Business Route U.S. 31, also known as Moses J. Jones Parkway. Traffic will be detoured north to the M-120 Exit 118.

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UBS is aiming to ramp up middle-market deals with wealth management

  • UBS is making a bigger push to bring together its wealth management division and investment bank, a strategy unfolding in cities around the US and targeting more middle-market deals.
  • The Swiss firm is betting that tapping ultra-rich clients in its wealth division, many of whom have businesses themselves, will result in more chances for its investment bankers to execute deals.
  • The initiative comes as UBS, which focused on building out its sturdy wealth business in the years following the last financial crisis, restructured its investment bank last year to help improve performance.
  • One UBS financial advisor described the effort to Business Insider this way: “If I’m a financial advisor and I have a really good relationship with my investment banking team, I can just call up my guy and say, ‘I have a deal. Can you do this for me?'” 
  • Visit Business Insider’s homepage for more stories.

UBS is on

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Paytm to ramp up credit card business, plans to add 20 lakh users- The New Indian Express

By Express News Service

NEW DELHI: Digital financial services major Paytm on Monday announced a ramping up of its presence in the co-branded credit cards segment, stating that it will partner with several credit card issuers and add 20 lakh subscribers to the service within the next 12-18 months. 

This venture, it claimed, will transform the credit market by onboarding “new to credit” users joining the digital economy. Paytm had launched its first co-branded credit card, called ‘Paytm First’ in May last year, in partnership with Citigroup.

Speaking about the cards, Paytm said that “It will be equipped with instant one-touch services such as change of the security pin number, updating the address, blocking the card in case of loss or fraud prevention, issuance of a duplicate card and viewing outstanding credit-limit”. The cards will also boast options to switch off the card for contactless payments or international transactions when

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