Buy now, pay whenever? Lockdown lift for online shopping loans

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By Nikhil Nainan

(Reuters) – Browsing online during lockdown, Jessica Friend spotted a pair of Ray-Ban sunglasses she liked, but the price tag made the 30-year-old Ohio resident think twice.

What persuaded her to click ‘buy’, Friend said, was the short-term credit offered by Afterpay <APT.AX>, which split the $260 payment into four interest-free instalments.

Afterpay is among a handful of alternative credit firms which offer small loans, mostly to online shoppers, and make their money by charging merchants a 4%-6% commission.

These buy-now-pay-later (BNPL) firms have benefited from a shift to online shopping during the coronavirus crisis in countries including the United States, where state aid has also boosted retail sales.

“I’m more inclined to use them because they make it easier to afford to get the things I want all at once … and when I want to splurge on something,” Friend said of the loans.

Some investors

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The coronavirus pandemic ‘has undone years of work’ for women, Yahoo Finance survey shows

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Women, especially middle-aged ones, have been hit the hardest by the coronavirus pandemic in terms of job loss, fewer options for remote work, and needing more time to recover financially from the crisis, according to a new survey from Harris Poll and Yahoo Finance. 

Nearly all men between the ages of 35 and 44 — 96% — were still working the same job as before the pandemic, only 60% of women the same age were, according to the survey of 2033 Americans. The latest unemployment rate shows 8.9% unemployment for men in that age group and 9.4% for women in June.

Read more: Here’s how to navigate changes in your career

A similar discrepancy shows up between men and women who are 45 to 54. More than three-quarters of men that age have the same job, but just under 6 in 10 women do, the survey found.

That difference, among

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Meet Thrilling, An Online Marketplace That Supports Small Vintage Stores

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When the pandemic hit, Thrilling, an online marketplace that offers vintage and secondhand clothing from small businesses around the country, cut its commissions for the first two months. After brick-and-mortar businesses were forced to close their doors, and thus lose their main source of income, founder and CEO Shilla Kim-Parker knew that those owners needed every dollar they could make. Thrilling then released custom-printed vintage T-shirts to raise money for the 100+ stores it carries (you can still purchase them or donate to stores here). When protests started around the country, following the murder of George Floyd at the hands of the police, Thrilling curated a collection of clothing from Black-owned vintage stores — although, as a Black woman, Kim-Parker had amplified these businesses since the start of Thrilling, giving them the exposure they desperately need in a fashion industry that still prioritizes whiteness.

Kim-Parker, whose prior careers were in

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Britain’s biggest businesses make net zero pledge

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Severn Trent boss Liv Garfield - Heathcliff O'Malley
Severn Trent boss Liv Garfield – Heathcliff O’Malley

Some of Britain’s biggest business have committed to cut their carbon emissions to net zero by 2040 as the UK gears up to host crucial international climate talks next year. 

EasyJet, Pearson, Deloitte, Standard Chartered, Unilever and Severn Trent are among almost 50 public and private companies making the pledge ahead of a major meeting on Monday between ministers and business leaders to discuss how businesses can help protect the environment. 

The UK has a legally binding target of reaching net zero emissions by 2050, and ministers are keen to set an example as the UK gears up to host the 26th United Nations Climate Change Conference (Cop 26) in Glasgow next year. 

The conference had been due to take place this year but was delayed due to the coronavirus pandemic. 

The more than 200 business leaders attending today’s online meeting will

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Coronavirus: How to find a job after a layoff

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As the unemployment rate hits its highest since the Great Depression while the coronavirus pandemic wreaks havoc on the U.S. economy, millions of Americans may find themselves out of a job for a few months or longer.

While finding a job in such an environment may seem intimidating, you shouldn’t bring the emotional baggage from the layoff to the job search process.

“Almost everybody loses their job at least once in their career and these days, job loss is very common,” said Stacey Staaterman, leadership and career coach. “You might worry that you look like a loser, but the world won’t see it that way, unless you bring sad sack energy into the search process.”

Here are a few steps you can take to make the job search process less intimidating and increase your chances of getting hired.

While finding a job in such an environment may seem intimidating, you shouldn’t bring the emotional baggage from the layoff to the job search process. Photo: Getty Creative
While finding a job in such an environment may seem intimidating, you
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British Land, Intu, Hammerson and more face ‘reckoning’ on COVID impact

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People wearing face masks walk past a sale sign on Oxford Street in London. Photo: David Cliff/NurPhoto via Getty Images
People wearing face masks walk past a sale sign on Oxford Street in London. Photo: David Cliff/NurPhoto via Getty Images

Wednesday (24 June) marked the second quarterly rent day of the year for shops in the UK.

Quarterly, rather than monthly rents, are a British peculiarity dating back to a time when landlords used to drive a horse and cart around their properties to collect rents. Takings this quarter are likely to be historically light.

Retail landlords collected only around 50% of rents due in the first quarter of 2020, according to the British Property Federation, and the collection is expected to be even lower this time around.

“I can see it being historically low — I could see 10-15% of rent paid,” Jonathan De Mello, executive director of retail property adviser Harper Dennis Hobbs, told Yahoo Finance UK.

Saturday afternoon shoppers at Oxford Circus in London. Photo: David Cliff/NurPhoto via Getty Images
Saturday afternoon shoppers at Oxford Circus in London. Photo: David Cliff/NurPhoto
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Boston Fed President Eric Rosengren speaks with Yahoo Finance [Transcript]

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Eric Rosengren, president of the Federal Reserve Bank of Boston, spoke with Yahoo Finance on June 22 to discuss the Fed’s unprecedented actions taken in the past few months and what lies ahead for the U.S. economy.

Below is a transcript of his appearance:

BRIAN CHEUNG: Thanks Julie, well we are here, virtually of course, with Boston Federal Reserve Bank President Eric Rosengren. Thanks so much for joining us this afternoon, President Rosengren.

ERIC ROSENGREN: Nice to be here with you, Brian. 

BRIAN CHEUNG: So I wanted to start off with a conversation about what you are seeing from the Federal Reserve’s perspective on the shape of the US economy recovery here. You made a speech last week, however, saying that the US has not been “particularly successful” was the language that you used, at containing the virus. I’m wondering: do you see that as threatening the likelihood of a

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The lockdown is turning back the clock on women’s lives in Britain

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Studies in 2019 showed that slight progress had been made in closing the gender pay gap in the UK in recent years, but the lockdown has stalled this progress - Joe Giddens/PA
Studies in 2019 showed that slight progress had been made in closing the gender pay gap in the UK in recent years, but the lockdown has stalled this progress – Joe Giddens/PA

SIR – We are concerned that the long-term impact on women is being overlooked in the Government’s response to the coronavirus crisis.

We don’t deny that men have been affected disproportionately by the virus itself, but evidence shows that the damage done to women in Britain during the pandemic could last for years – and set them back decades.

New research by the Fawcett Society and the Women’s Budget Group has already found that the response to the pandemic has had a disproportionately negative effect on women in all sectors and age groups.

According to the Resolution Foundation, women are more likely than men to be working in sectors that have shut down during the pandemic. Mothers are

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Here’s what to expect from Apple’s WWDC 2020 event

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Apple’s WWDC kicks off June 21. But rather than the company’s traditional developer conference held in a large, packed event space, the COVID-19 era has forced Apple to take one of its most important events of the year entirely online.

But don’t expect Apple (AAPL) to pull its punches in terms of news. You can count on the tech giant to make a host of major announcements including the debut of the latest version of iOS, and maybe even a few surprises.

Here’s what you can expect from WWDC 2020.

The first ARM-powered Macs

Apple has been rumored to be working on its own processors for its Mac and MacBook lines of computers for some time. And according to Bloomberg, the firm will finally make the move at WWDC. 

The company first began using Intel chips in its systems in 2006 after transitioning away from its PowerPC architecture. Intel’s chipsets

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The best credit cards for new homeowners of 2020

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If you just bought a house, these credit cards can make settling in a little easier.
If you just bought a house, these credit cards can make settling in a little easier.

— Our editors review and recommend products to help you buy the stuff you need. If you sign up for a credit card after clicking one of our links, we may earn a small share of the revenue. However, our picks and opinions are independent from USA TODAY’s newsroom and any business incentives.

A new house, condo, or apartment is cause for celebration. It might also cause some financial stress, depending on how much is left in your bank account after the settlement. And the bills don’t end there. If you’re a new homeowner, you might be looking for ways to help you save money on home-related expenses after you move in. Furniture, renovations, and emergency repairs can quickly add up. 

While experts advise that people shouldn’t apply for new lines of credit before

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