Tag: drop

India Shadow Bank Dollar Bonds Drop After S&P Downgrades

(Bloomberg) — Credit scores of several Indian shadow lenders were downgraded by S&P Global Ratings due to liquidity risks amid an economic downturn brought on by the pandemic, triggering a drop in some of their bonds.

The rating company cut state-owned Power Finance Corp. and Bajaj Finance Ltd. into junk territory, according to a statement dated Friday. Shriram Transport Finance Co. Ltd. and Manappuram Finance Ltd. were lowered deeper into non-investment grade.

Power Finance’s dollar bonds due 2029 and Shriram Transport Finance’s notes maturing 2022 fell about 2 cents on the dollar Monday to 99.8 cents and 92.8 respectively, the

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Universities get extra money to cover drop in international student numbers

Universities are to get a cash boost to help them deal with a drop in numbers from overseas students due to coronavirus: iStock
Universities are to get a cash boost to help them deal with a drop in numbers from overseas students due to coronavirus: iStock

Universities will be able to access extra funds to help them deal with a drop in overseas student numbers.

Ministers have said grants and low-interest loans will become available to cover up to 80 per cent of income losses due to fewer international students enrolling as a result of the coronavirus pandemic.

University-led research will be protected through emergency finance schemes as higher education establishments deal with budget holes.

Around £200m of the investment will be

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Coronavirus forces UM to make budget cuts, and FIU predicts drop in enrollment

Like all industries bracing for the worst of the coronavirus pandemic and its economic aftermath, universities are reeling from the fiscal impact of shuttered campuses.

On Wednesday, the University of Miami in an email announced “financial mitigation actions,” effective immediately, to reduce expenses across the university, including its healthcare system, UHealth.

“Today’s highly uncertain economic environment poses serious financial implications for our University, as well as for our health care system, UHealth,” the email read. “These are unprecedented times, which require significant measures.”

Those measures include a hiring freeze, a postponement of merit-based pay raises, significantly reduced or eliminated non-essential,

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