Wednesday, 23 Sep 2020

RBI sets up panel for stressed loans resolution norms

George W. Bush Releasing Book of Paintings Featuring America’s Immigrants

Presidents Bush, Clinton & Obama Reunite at Funeral for Civil Rights Icon Rep. John Lewis

"I hope those responsible in Washington can dial down the rhetoric, put politics aside and modernize our immigration laws soon," Bush added.

In 2018, he also criticized the current administration’s stance on immigration, such as Trump’s attempts to shut down the Deferred Action for Childhood Arrivals program (better known as DACA), which stops thousands of immigrants brought to the U.S. as children from being deported.

“America’s their home,” he said of DACA recipients while speaking at a summit in Abu Dhabi, according to The Hill.

Teachers can get a free doughnut and coffee at Krispy Kreme next week

  • Krispy Kreme is offering a back-to-school promotion from Monday, August 10 through Friday, August 14.
  • Teachers can receive a free glazed doughnut and brewed coffee by showing their school ID at checkout.
  • Visit Business Insider's homepage for more stories.

The start of the school year just got a little sweeter.

From August 10 through August 14, Krispy Kreme doughnuts will be running "Educator Appreciation Week" promotions.

For teachers, that means they can get a free glazed doughnut and coffee by showing their school ID at checkout.

And on Tuesday, August 11, anyone can get a free dozen of "Straight A" doughnuts with the purchase of any dozen doughnuts, no ID required. Buyers are encouraged to share the Straight A donuts with "any educator in your life," including "mentors, parent, siblings, neighbors, and friends."

The buy-one-get-one promotion can be redeemed in store or online. Learn more about the promotions here. 

Innovative Artists & Luber Roklin Sign ‘Extraction’ Actor Rudhraksh Jaiswal

EXCLUSIVE: Innovative Artists and Luber Roklin have signed Rudhraksh Jaiswal, the young actor who co-starred opposite Chris Hemsworth in Netflix’s most-watched original film Extraction.

Directed by Sam Hargrave, the pic follows Tyler Rake (Hemsworth) a black-market mercenary who is hired to rescue, Ovi Mahajan (Jaiswal), the kidnapped son of an imprisoned international crime lord.

Earlier this year, Deadline reported that the film’s screenwriter Joe Russo was commissioned to write another installment with Hargrave, Hemsworth, and Jaiswal expected to return.

Jaiswal grew up in Mumbai and has appeared in a number of Bollywood films and TV series such as Mahabharta.

Susan Rice Sells Netflix Shares Days Before Joe Biden Chooses Running Mate

Susan Rice, the former national security advisor who is considered a strong contender to be Joe Biden’s running mate in the presidential election, has sold shares in Netflix worth $305,323.

Her exercising of options was completed on Wednesday, according to an SEC filing late Thursday. Rice has been on the Netflix board since May 2018.

Biden is expected to name his vice presidential pick next week.

“Ambassador Rice’s sale of a fraction of her Netflix stock has nothing to do with VP speculation,” her spokesperson, Erin Pelton, said in a statement. “She filed a stock plan pursuant to SEC regulations over three months ago.”

The option price of Netflix shares at the point of the sale was $508.68. The stock has surged as high at $575 this year as COVID-19 has spurred the addition of 26 million subscribers in the first six months of 2020. On Friday, shares were down 4% at about $488.

Under her board compensation package, Rice gets 125 stock options a month.

In 2016, Rice said in a federal disclosure that her net worth was between $14.7 million and $28.5 million. Prior to her stint as President Obama’s national security advisor, she was U.S. ambassador to the United Nations and worked as a McKinsey consultant early in her career.

When Rice joined the Netflix board, she called it “a cutting-edge company whose leadership, high-quality productions, and unique culture I deeply admire.”

Dr. Anthony Fauci says chance of coronavirus vaccine being highly effective is 'not great'

White House coronavirus advisor Dr. Anthony Fauci said Friday the chances of scientists creating a highly effective vaccine — one that provides 98% or more guaranteed protection — for the coronavirus are slim.

Scientists are hoping for a coronavirus vaccine that is at least 75% effective, but 50% or 60% effective would be acceptable too, Fauci, director of the National Institute of Allergy and Infectious Diseases, said during a Q&A with the Brown University School of Public Health. "The chances of it being 98% effective is not great, which means you must never abandon the public health approach."

This is a developing story. Please check back for updates. 

RBI sets up panel for stressed loans resolution norms

Names members including ADB’s Gupta, IBA’s Mehta

The Reserve Bank of India (RBI) on Friday constituted the proposed expert committee under the chairmanship of veteran banker K.V. Kamath to make recommendations on norms for the resolution of COVID-19 related stressed loans.

The other members of the committee include Diwakar Gupta (effective September 1, 2020, after completion of his term as vice-president, ADB), T.N. Manoharan (effective August 14, 2020, after the completion of his term as chairman, Canara Bank), Ashvin Parekh, strategy advisor, and Sunil Mehta, CEO of Indian Banks’ Association, as the member-secretary. The committee will submit its recommendations on the financial parameters to the RBI, which in turn, will notify the same along with modifications, if any, in 30 days.

The Indian Banks’ Association (IBA) will function as the secretariat to the committee and the committee will be fully empowered to consult or invite any person it deems fit.

The committee may devise its own procedures for its internal functioning, the RBI said in a circular.

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