The employee retention credit is a significant tax break. What there is to know

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Over the past year, lawmakers have passed numerous tax breaks for businesses due to the coronavirus pandemic.

Now, the Biden administration is encouraging the businesses most affected to take advantage of a particularly significant tax break, the employee retention credit.

The tax break was first introduced in March 2020 in the CARES Act and has since been extended in the December relief package and in the American Rescue Plan Act signed in March.

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More than 30,000 small businesses have claimed more than $ 1 billion through credit this year, the White House said on Monday. Nonetheless, the Biden administration is keen to increase awareness of the program and said the Treasury Department will release new guidance on credit this week.

Here’s what businesses need to know.

How does credit work

The 2020 employee retention credit gives eligible businesses a refundable tax credit of 50% up to $ 10,000 in eligible salary paid per employee in 2020. This means that eligible businesses can receive a credit of up to $ 10,000. to $ 5,000 per employee for last year.

The American Rescue Plan Act, enacted in March, further expanded credit, making more businesses potentially eligible and pushing back when they could claim the credit until the end of the year. In 2021, eligible businesses can deduct up to 70% of a maximum of $ 10,000 of eligible salary paid per employee per quarter, bringing the total annual amount of potential credit to $ 28,000 per employee that year.

This is a big bonus for some companies. In addition to using it to reduce the employment taxes that businesses have to pay, people with less than 500 employees can apply for an advance payment of the credit from the IRS and get it in cash if the credit is greater than what they owe on employment taxes. .

“What we’re finding is that it can be pretty darn important,” said Tony Nitti, CPA and partner in RubinBrown’s tax services group. “Many businesses can reduce their payroll filing requirement to next to nothing or even negative numbers, essentially where they get a refund from the federal government.”

Who is eligible

Granted, there are strict eligibility rules for which businesses can claim the credit, which is designed to focus on those hardest hit by the pandemic.

For the 2020 credit, companies must have undergone a total or partial shutdown of their activities during the year due to a government order limiting exchanges, travel or meetings due to the pandemic, or have experienced a Quarterly drop of more than 50% in gross revenue, according to the IRS.

The 2021 credit rules were broadened to include businesses that had either experienced a full or partial shutdown or a quarterly drop of more than 20% in gross revenue.

“You might not have qualified in 2020, but you did in 2021,” said Erin Vukelich, an accountant at JCCS Certified Public Accountants in Whitefish, MT.

The numbers for 2021 are just amazing.

Tony nitti

CPA and RubinBrown Tax Services Group Partner

Plus, the law passed in December made it clear that you can apply for the credit if you’ve had a paycheck protection program loan – but you can’t double down, so to speak, so you need to specify which salaries were covered. by PPP. and which are applied to credit.

This added a layer of complexity to the program, according to experts. Nonetheless, the added benefit is significant – for some businesses that have obtained PPP loans and are eligible, the amount they received from 2021 credit has doubled the total benefit.

“The numbers for 2021 are just amazing,” Nitti said.

The size of companies that can claim all employees’ wages – compared to only those that worked in the quarter – also changed for 2021. In 2020, companies with an average of more than 100 employees generally could not claim. all salaries, but by 2021 that number has grown to an average of 500 employees.

Additional complexity

Due to the complexity of the program and the rules that changed between 2020 and 2021, companies should make sure to work with an expert to claim the credit on their employment taxes.

“It’s very complicated, even if it’s very favorable,” said Mark Steber, tax director at Jackson Hewitt Tax Services. “Do not go into this program without competent help.”

This is especially true if the companies have a PPP loan and are also eligible for employee loyalty credit. To maximize both benefits, they will likely need the help of a tax professional who can work with both loan and payroll documents.

It’s also still possible for companies to claim the employee retention credit for 2020, even if they have already submitted their tax returns for that year, according to Vukelich.

To go back and claim the credit, they have to change their 2020 returns, which many companies choose to do to qualify, she said.

Going forward, businesses should keep track of all the documents they need to prove their eligibility, especially if they are made eligible by a local government order terminating their operations, Vukelich said.

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You book your trips backwards: get your rental car first

Most travelers start planning their vacations by scouring the Internet for great deals on flights. Then it’s time to search for hotels. Booking the rental car is a boring afterthought.

But in 2021, you need to consider completely reversing the order of operations in which you book your next trip.

The wild case of Glacier National Park

Some experts warn that we are on the precipice of a “rental car apocalypse”, citing examples of extreme prices and sold out cars. Whether or not the apocalypse is hyperbole depends on both who you ask and what city you’re renting a car in (and for what it’s worth, many car rental companies have a lot of availability) . But overall, rental cars are generally much more in demand than in 2019. Additionally, there are many instances where the supply is simply not enough to keep up.

Consider this: NerdWallet searched in April 2021 for rental cars at each of the seven car rental companies at Glacier Park International Airport and found no availability for car rentals in July and August 2021. Good luck getting a cab to take you from the airport to 6,600 feet above sea level to the top of Logan Pass.

What caused the shortage of rental cars in 2021?

But high demand is not the only factor at play. Due to a global semiconductor shortage hampering the production of not only cars, but also phones, refrigerators and other electronics, the supply is also lower than normal.

And with that, the auto industry has experienced a domino effect which has led to higher prices.

Why a car rental should be one of the first things you book

The Glacier Park example is certainly extreme, but it illustrates how an insanely cheap flight deal makes no sense when rental car prices are massively inflated, or worse, completely sold out.

“Don’t do what you’ve done in the past, which is plan a trip, book your plane ticket and hotel, then book a rental car,” CEO and founder told NerdWallet from AutoSlash car rental site, Jonathan Weinberg. “Reverse that strategy this year. First check that the rental car is available and affordable.

Demand for rental cars has increased

Rental cars have never had the massive price drop that the prices of airline tickets and hotel rooms have, probably because while interest in air travel has plummeted, interest in air travel has plummeted. for car trips has increased.

A national survey by of 1,000 Americans found that about 25% of spring break travelers planned to fly this year, compared with 38% of spring break travelers who took the plane in 2019. Meanwhile, about 70% of spring break travelers in 2021 intended to drive to their destinations, up from 57% in 2019.

There is usually no deposit required for a car rental

Unlike most airline tickets, theater tickets, and tour bookings, rental cars are one of the few aspects of travel that usually doesn’t require an upfront payment. Most car rental companies require that you pay only when you collect the car.

“You don’t really need to have a skin in the game,” Weinberg says. “There is almost no reason not to book a rental car.”

What to do when rental cars run out

Just because you can’t rent a car at Glacier Park International Airport this summer doesn’t mean you can’t vacation there. Here’s how you can still make your trip, even if the rental cars are sold out:

Plan an alternative route

It would seem more logical to go to Glacier Park International Airport, located just 24 miles from the park entrance, but you could get creative and fly elsewhere. Missoula Montana Airport and Great Falls International Airport are approximately a two and a half hour drive from the entrance.

Not only will you more likely find a rental car available at these airports, but you may also be able to find better flight options.

Play with reservations

A rental car can be booked for the first week of July, but may be available the next. If the price of the plane ticket is the same for either week, then this is a pretty clear indicator of which week you should choose to travel.

Weinberg also recommends another tip: book a rental car longer than you actually need.

“Why do car rental companies rent to someone who wants only three days when they can rent to someone else who is willing to rent it for six days?” ” he says. Car rental companies may not show cars are available for people trying to book short trips, even if there are cars on the lot.

If you are desperate and don’t mind paying extra for the days you don’t need a car, then paying for a longer rental might be better than having no wheels at all. And sometimes the rental companies will even give you credit to return the car sooner, Weinberg says.

Check car rental locations beyond the airport

Car rental companies are usually attached to airports, but don’t overlook rental locations attached to hotels or elsewhere in the city. The airport location might be full, but other nearby locations may have cars available. In that case, you may be able to take the free hotel shuttle or a taxi from the airport to the off-site location. Even with the price of the taxi, you could save money if the offsite locations are cheaper.

Look for car rental alternatives like Turo and Getaround

Traditional car rental companies may be sold out, but check your options on peer-to-peer car rental platforms like Turo or Getaround. These services tend to function as short-term vacation rentals for cars, where local owners put their own cars for rent.

Although Getaround has yet to reach the vicinity of Glacier National Park, rentals from Turo are available this summer.

The bottom line

This year, reverse the way you plan your trip to account for the increased demand for rental cars. You don’t want to put off booking a rental car only to find that the cars are sold out once you’ve already booked the flight.

How to Maximize Your Rewards

You want a travel credit card that prioritizes what’s important to you. Here are our choices for the best travel credit cards of 2021, including those that are best suited:

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Add Arkansas, Mississippi to States Canceling Federal Unemployment Benefits

A growing number of GOP-led states have decided that increasing unemployment benefits is a problem.

Unemployed Americans living in some Republican-run states have a nasty surprise ahead. Governor Asa Hutchinson of Arkansas and Governor Tate Reeves of Mississippi have announced that their states will end the federally backed unemployment increase rather than allow it to expire as scheduled on September 4, 2021.

Arkansas and Mississippi join Alabama, Idaho, Iowa, Missouri, Montana, North Dakota, South Carolina, Tennessee and Wyoming to cut federal payments by $ 300 per week . The $ 300 “boost” was added to state unemployment benefits in an effort to help millions of unemployed Americans weather the worst of the pandemic. And while Indiana Gov. Eric Holcomb weighs in on taking away unemployment benefits from his state, governors who have already announced their decisions are giving beneficiaries a few weeks to make other plans.

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Some lawmakers believe cutting benefits will be good for the job market

As more Americans are vaccinated and businesses reopen, Republicans worry about a labor shortage. The average American receives $ 387 per week in unemployment benefits from their state, according to the Center on Budget and Policy Priorities. With the boost of $ 300 from the federal government, that amount is $ 687 per week – the equivalent of $ 17.17 an hour, based on a 40-hour work week.

The problem with the unemployed receiving $ 17.17 an hour, according to Republican leaders, is that many Americans earn more by collecting unemployment than they can by working full time.

For example, an employee working 40 hours a week at $ 17.17 an hour (the current average premium premium) can earn $ 35,714 a year. In Montana, where the minimum wage is expected to hit $ 8.75 an hour in 2021, minimum wage workers in full-time jobs earn $ 18,200 per year.

The position of lawmakers withdrawing from the federally backed program is that employees will be forced back into the workforce when their incentive to stay at home is removed.

Potential reality

Federal Reserve Chairman Jerome Powell told a press conference last week that it was not clear whether the increase in unemployment benefits was the cause of the labor shortage . What if the perceived labor shortage is caused by other factors, such as more people starting their own businesses or deciding to train for new jobs? It is possible that the experiences surrounding COVID-19 have led people in a new direction and we have just seen the results.

Unemployment benefits paid by the federal government have boosted spending and are contributing to the economic recovery, according to Andrew Stettner, senior researcher at the Century Foundation. Stettner calls it “short-sighted” that a state should sacrifice the economic stimulus of this increased spending on anecdotes of labor shortages, coming from relatively few employers.

Other concerns about the sudden reduction in benefits relate to the number of working parents who will have to scramble for affordable child care. Again, using Montana as a model, the average cost of child care for a child is over $ 9,500 per year, or more than half of the pre-tax income of a minimum wage employee. Although Montana plans to offer a one-time bonus of $ 1,200 to those who return to work, that money will do little to cover child care costs on an ongoing basis.

All of this back and forth does not provide straightforward answers for those who are struggling to put money in their bank accounts or pay their bills. The best we can hope for is that we all find a way to come together and achieve our long term goals.

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PHH 2021 Mortgage Lender Review: Lack of Transparency

We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and earn us a referral commission. For more information, see How we make money.

Based in Mount Laurel, New Jersey, PHH Mortgage is a non-bank lender that has worked in mortgage services for 30 years. It operates in 18 states and offers conventional loans, government guaranteed mortgages, jumbo loans, and a few other products.

The biggest downside we see with this lender is a major lack of transparency and a worrying history of negative customer reviews and legal issues. You will need to register online to receive mortgage application information and check mortgage rates. Before applying for a mortgage with PHH Mortgage, here is what you need to know.

Advantages and disadvantages of the PHH mortgage

The inconvenients

  • Major lack of transparency on the borrowing process on the lender’s website and by phone call

  • Mortgage rates are not available online

  • Only permitted in Alaska, Arizona, California, Colorado, Delaware, Georgia, Illinois, Kansas, Massachusetts, Minnesota, Mississippi, Montana, New Hampshire, New Jersey, New York, Ohio, Oregon, Rhode Island

PHH mortgage: Types of loans and products

Compared to other lenders, PHH Mortgage offers are standard. Borrowers can take out conventional fixed and variable rate loans as well as mortgages guaranteed by the Federal Housing Administration (FHA loans) and the United States Department of Veterans Affairs (VA loans).

Borrowers can also take out jumbo loans, which are mortgages that exceed conforming loan limits, and loans for vacation homes and investment property. You can also request conventional rate and term refinancing and withdrawal refinancing from this lender. But you won’t find home equity loans and lines of credit, construction loans, USDA loans, home improvement loans, bridging loans, and other niche products.

Here’s a look at what PHH Mortgage currently offers:

PHH mortgage transparency

The most worrying aspect of this lender was PHH Mortgage’s lack of transparency. After numerous attempts to contact PHH Mortgage via email, phone call and one of its physical branches, we were unable to contact a representative. We also never got a response after submitting an online form to request more information about loans with PHH.

This left us with no information on the borrowing or refinancing process, minimum credit score and down payment requirements, fees borrowers might pay on closing, or mortgage rates offered by the lender.

This matches up with several consumer reviews who generally describe the lender as uncommunicative and disorganized. Since the end of 2012, this lender has accumulated nearly 3,300 complaints in the Consumer Financial Protection Bureau’s complaints database, and the Better Business Bureau has given PHH Mortgage a “C” rating.

In 2018, the lender was ordered to pay $ 45 million to settle claims brought against it by 50 attorneys general “for alleged misconduct related to its management of single-family residential mortgages.”

The lender’s parent company, Ocwen Financial Corp., has also been involved in legal battles that allege the company misapplied mortgage payments, failed to make insurance payments on behalf of its borrowers, and generally abused his clients. In 2020, the Florida State Attorney General ordered Ocwen to pay more than $ 11 million to consumers who have been harmed by Ocwen’s alleged service failures.

PHH mortgage: rates and fees

One of the most important factors to consider when choosing a mortgage lender is the cost of your home loan. PHH Mortgage does not advertise the daily refinance and purchase rates on its loans, nor does it offer a list of fees borrowers may pay at closing. But it lists several fees borrowers might have to pay during the repayment process, including:

  • NSF / Insufficient Funds Check Fee
  • Late charge
  • Refund Quote Fee
  • Mortgage Verification Document Fee

According to the lender’s website, you can apply for a single rate lock-in, which means your interest rate won’t change between your offer and closing, when you apply for a mortgage. PHH also offers “rate protection,” which acts as a floating rate lock. If mortgage rates drop after you set a rate, you may receive a lower rate within five days of closing. Refinancing borrowers can lock in a lower rate within 15 days of closing.

Pro tip

The best way to save on your home loan is to compare offers side by side. Start by submitting mortgage applications to multiple lenders and requesting a loan estimate. Take the best offer and send it to another lender, asking them to offer a lower interest rate or closing costs (or both). Having strong credit can help lenders compete for your business.

Borrowers will also find educational resources, checklists and lists of frequently asked questions on the website. And although PHH does not list the minimum credit score requirements to qualify for a home loan, its website does indicate that the lender has options for clients with less than perfect credit.

The fees you pay for any loan will be specific to your situation. So, if you do decide to apply for a home loan with PHH Mortgage, be sure to get a closing cost worksheet or loan estimate so you can look at all of the costs associated with the loan. This document lists your interest rate, annual percentage rate (APR), points of call, and closing costs.

Refinancing with PHH Mortgage

If you have an existing mortgage, you could save money by refinancing a loan, paying off your old balance, and paying off the new loan over time. Borrowers usually do this to save money or to borrow money. PHH Mortgage offers the following types of refinance loans:

  • Refinancing at rate and duration, in which you will get a new interest rate, a new loan term, or both. If you qualify for a lower rate, this type of refinance can help save you money. Calculate the total interest paid on your old loan versus the new loan to make sure you are ahead of the game.
  • Refinancing of collection, in which you take out a new loan for more than what you currently owe, then pay off the old mortgage and keep the difference.

PHH Mortgage does not provide a closing deadline for its refinance loans, but industry standards can help you estimate this deadline. According to ICE Mortgage Technology, a refinance close took 52 days in March 2021.

The fees you pay to refinance a mortgage are typically 2-3% of the loan amount. Once you have applied for a refinance loan, PHH should send you a closing cost estimate that lists these fees. If you want to minimize your upfront costs, PHH can factor your closing costs into the loan amount. This is called a “no-cost refinance”. While convenient, it can cost you more in the long run as you pay interest on closing costs.

The PHH mortgage compared to other mortgage lenders

PHH mortgage Fairway Independent Mortgage Corp. Guild Mortgage
Minimum credit score Not provided 620 for conventional loans; 660 for jumbo loans; 600 for FHA loans; 600 for VA loans 620 for conventional loans; 600 for FHA, VA, and USDA loans; 680 for jumbo loans
Minimum deposit Not provided 0% to 5% 0% to 3.5% on most loans; 15% on jumbo loans
Where the lender operates 18 states 50 states All states except New York and New Jersey
Main types of loans Conventional, jumbo, VA, FHA, adjustable rate, fixed rate, refinancing Conventional, Jumbo, VA, FHA, USDA, Various Home Improvement Loans, Variable Rate, Fixed Rate, Refinance, Refinance With Withdrawal, Reverse Mortgages, Home Equity Loans, Home Equity Lines of Credit Conventional, Jumbo, VA, FHA, USDA, Various Home Improvement Loans, Variable Rate, Fixed Rate, Refinance, Cash Refinance, Energy Efficient Mortgages, Manufactured Home Loans, Bridge Loans

How To Shop For The Best Mortgage Rate

One of the best ways to save money on your home loan is to shop around. Each lender has their own way of calculating interest rates and closing costs, so you could save hundreds or thousands of dollars over the life of the loan by comparing offers.

Begin the shopping process by contacting three to five lenders, submitting a mortgage application, and requesting a loan estimate. This is a standardized form, so it will be easy to find the lender with the lowest mortgage rate and closing costs. Ask what each fee is and whether or not it is negotiable. Two loans can have the same interest rate, but one can have much higher upfront fees.

Final result

Choosing a mortgage lender is an important part of the home buying process. PHH Mortgage offers several typical home loans, including conventional loans, FHA loans, VA loans, and jumbo loans. But if you’re looking for more specific mortgage types or want to see how PHH stacks up against the competition, you can take a look at the top 2021 mortgage lenders and compare your options. This is the best way to get a good deal on your home loan.

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Matt Damon interviewed TAB’s Live Today Show in Australia

Honorary Australian Matt damon just gave an interview in the United States Today’s show a local Australian TAB and a muuuuum, can we keep it?

During the interview, the actor was asked about the news that his boyfriend Ben affleck would have rekindled his romance with his ex-fiancee Jennifer lopez after the couple were pictured vacationing together in Montana. Damon said he couldn’t spill tea, but said he hopes it’s true because “that would be awesome.”

“There isn’t enough alcohol in the world for you to make me say something about it,” he said live from the TAB.

“I love them both,” Damon said. “I hope that’s true. It would be great.”

The actor attended a domestic violence charity event in Brisbane last week and, according to a Reddit post, he made an epic donation of $ 10,000 to the cause.

The actor, who is in town filming the new Thor film, attended the domestic violence charity event hosted by the Safe Haven charity with his miss, Luciana Barroso.

According to the Reddit post of the daughter of Denise hunter, the woman who founded the company, Matt Damon donated $ 10,000 to the cause because, as stated earlier in this article, he is an absolute angel sent from heaven.

Taste the glorious picture of Matt Damon with Denise Hunter:

My mother founded an association that fights against domestic violence. At a fundraising lunch, Matt Damon came over and donated $ 10,000 from Australia

According to Denise’s daughter, Matt Damon was “really interested” in the topic of domestic violence and stayed throughout the event.

The Courier Mail reports that the two attended the lunch to learn more about the issues with coercive control.

“He took the time to call and have lunch, and he was fantastic,” said Jaeneen Cunningham, executive director of the organization represented above.

“I spoke to his wife and she said it was a fantastic thing that we were doing and that they were more educated after the event.

All money raised through donations will be used to provide early intervention and housing for women and children. Go here to learn more about the work Safe Haven does.

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Andra Day says her portrayal of Billie Holiday helped her cope with ‘sex addiction’


Insect Repellents Market – Growth, Trends, Impact of COVID-19, and Forecast (2021-2026)

The global insect repellents market was valued at US $ 4,150. 91 million in 2020 while registering a CAGR of 6.85% – during the period 2021-2026. COVID-19 has a positive outlook on the global insect repellents market across the globe as it is viewed as a home hygiene and care product.New York, May 19, 2021 (GLOBE NEWSWIRE) – announces “Insect Repellents Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” report released – In addition, the demand for Personal hygiene and Home care products are expected to increase further in the coming days due to growing consumer awareness in the wake of the Covid-19 pandemic. Additionally, manufacturing companies believe the pandemic has made consumers more aware of the need to maintain hygiene, both personally and at home, to reduce the risk of infection, which is expected to become a long-term trend. . The growing threat of diseases such as dengue, malaria, chikungunya, Zika virus and yellow fever are expected to increase demand for insect repellents during the forecast period. Government initiatives to combat disease, increased public health awareness and affordable costs of these products are some of the major factors increasing the demand for insect repellents around the world. and population increase, the demand for mosquito repellents is steadily increasing, especially in the tropics of the region. In addition, the wide range of insect repellents including mosquito repellents in different price brackets have made it easily accessible and affordable for a large consumer base. There is an increase in the adoption of mosquito repellents. insect repellents based on natural ingredients. The adoption of such mosquito repellents is increasing, in order to avoid problems, such as rashes and allergies, among others. Manufacturers are offering various products which reduce the harmful effects of repellents due to the content of and contained in them, which in turn is expected to significantly boost the growth of the insect repellents market during the forecast period. Cases of Mosquito-borne Diseases Health awareness is increasing among urban populations around the world, as awareness of mosquito bite safety increases. In addition, the increasing literacy rate in developing countries in the face of the growing number of mosquito-borne diseases is helping the rural population to focus more on health and cleanliness. Different regions are affected by different mosquito-borne diseases depending on the climate, the types of mosquitoes common in the region, and access to preventive measures and medicines. However, the impact of these diseases remains widespread. For example, in Michigan, between 2004 and 2016, there were 1,493 cases of mosquito-borne illnesses, according to the Centers for Disease Control and Prevention (CDC). The incidence of dengue has increased dramatically around the world in recent years. In addition, 2016 was characterized by significant outbreaks of dengue, worldwide. According to the WHO, the Americas region reported more than 2.38 million cases in 2016, while Brazil alone contributed just under 1.5 million cases, about three times more than in 2014 . Insect repellent market in Asia-Pacific region due to being the most populous country with high disposable income, growing awareness, improved standard of living and affordable price of insect repellent, this which increased its penetration into household items. All of these factors cumulatively increase product sales. In addition, household insects like flies, termites, bedbugs, ants, cockroaches and others are very common there. The use of insect repellants in most sprays, sprays, chalk, powders and the like in usable form has caused product sales in Chinese homes to proliferate. While in India, growing awareness and growing health concerns among the people, supported by increased household income and affordable prices of the product, have improved the penetration of insect repellents in Indian homes. The Ministry of Health and Family Welfare launched the National Framework for the Elimination of Malaria in 2016. In addition, the government launched the National Strategic Plan for the Elimination of Malaria which defines strategies for the next five years, starting from 2017, that is to say from 2017 to 2022. In addition, the launch of various programs like Swacch Bharat Abhiyaan have created a sense and importance of hygiene and cleanliness in the minds of people, which has improved the growth of the market. For example, the incidence of malaria caused by mosquitoes has decreased considerably. According to WHO data, there was a 28% drop in malaria cases and 41% in malaria-related deaths during the period 2017-2018. Insect repellant in coil form is the most popular product in the region due to its cost effectiveness and availability in all retail channels. In the rural areas of the region, offline distribution means like convenience stores are more popular sales channels.Competitive Landscape The global insect repellents market is very stagnant and competitive, with the presence of various global and regional players. The major market share of the global insect repellents market is dominated by companies like SC Johnson & Son which is the market leader, followed by the brands Spectrum and Reckitt Benckiser Group PLC in 2020. Extensive product portfolio, presence global and the company’s continued activities in the studied market have made Godrej Consumer Products a market leader. During the period under review, the company mainly focused on product innovations, as it developed four innovative products with the aim of expanding its product portfolio and global presence. Another market leader, SC Johnson & Son, is also benefiting from higher sales in the studied market, supported by the consumer trend towards its wider range of products, including all types of products, such as DEET products, natural and organic insect repellents and other products. As a result, to further strengthen its market position, the company has invested heavily to increase the production of its commodities Reasons to purchase this report: – The Market Estimate (ME) sheet in Excel format – 3 months of analyst support Read the full report: About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker researches and curates the latest industry data so you get all the market research you need – instantly, in one place .__________________________ CONTACT: Clare: [email protected] US: (339) -368- 6001 Intl: + 1339-368 -6001

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Why wheat markets have peaked for 10 years

BILLING – Squeeze supplies and drought in the northern plains are pushing wheat prices to some of their highest levels in more than a decade.

Jim Bower of Bower Trading says the wheat market itself probably does not have the fundamentals to keep it rising at the current rate, but with outside help, farmers could see wheat prices continue to rise. increase.

“When it comes to wheat prices, a lot of it depends on what the price of corn is doing,” Bower said. “And I think corn hit levels almost unimaginable just six months ago. So when the corn took off, the wheat farmers were waiting to see what would happen. Then things dried up across the vast region of the Canadian Prairies, in parts of Montana to the Dakota, and that has not changed yet. Now that may change on the road and things may get a bit better but they really need some precipitation in this area. Some customers tell me it’s dry. On a larger scale, there is now a lot of money coming out of stocks in commodities, which we haven’t seen for several years, especially money coming from managed funds and the Chinese covering their needs in commodities. stocks. There is also an international aspect to which we must pay attention on a daily basis. You cannot trade this market on a weekly, monthly or yearly basis. You have to trade it daily now because there is too much up and down movement at the same time. “

He says all eyes are on spring wheat because there is a lot of movement towards it that other classes of wheat don’t really understand.

“We really need to watch the price of spring wheat, more than hard red winter wheat or soft red winter wheat, because spring wheat is the most inelastic product on the planet,” he said. Bower said. whatever the price, the demand must always be satisfied by the market. That’s why in the past we’ve seen spring wheat make these huge spikes up to almost $ 20. I’m certainly not saying it will happen again, but the market will understand it. And the market knows that whatever the price, the demand must be met. “

While higher corn prices support wheat markets, on the other hand, they certainly give cattle ranchers a lot of heartburn as higher feed prices put strong downward pressure. in livestock markets.

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Jennifer Lopez overcomes ex-Yankees DH Alex Rodriguez by flying off with Ben Affleck, reports show

Bennifer is back. But J-Rod is gone.

E! News reports that singer / actress Jennifer Lopez is overcoming her breakup with former New York Yankees slugger Alex Rodriguez by rekindling her romance with Ben Affleck.

After the stars appeared separately at the VAX LIVE concert in Los Angeles on Sunday, May 2, they flew together to the Yellowstone Club in Montana, where they vacationed together for about a week, a source told E! New. “They were alone,” said the source. “Just both. “

TMZ has details on the getaway:

Ben and Jen were at the Big Sky Resort in Montana, very close to Yellowstone National Park. They were staying at the same resort and driving together … They also left Montana together Sunday from Bozeman, Montana to LA. house in Bel-Air. … A source from Montana who spotted them told TMZ that they look a lot like a couple.

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In March, the New York Post reported that Rodriguez and Lopez had ended their engagement, which dated back to 2019. Then last month, Rodriguez and Lopez announced their relationship was over in a statement on the “Today” show. .

We have realized that we are better as friends and we can’t wait to stay that way. We will continue to work together and support each other on our common activities and projects. We wish each other and our children the best. Out of respect for them, the only other comment we have to say is thank you to everyone who sent kind words and support.

Two weeks after the announcement, Lopez was spotted in Los Angeles with Affleck, 48, who she was engaged to from 2002 to 2004. At the time, New York Post page six reported that the reunion was “just right. friendly “.

But according to E! News, the chemistry between Lopez and Affleck “is unreal. They picked up where they left off and are enjoying each other’s company right now.

So where does that leave Rodriguez, 45? On the bench, despite repeated attempts to reconcile with Lopez.

US Weekly reported that Rodriguez is hoping for one more round at home plate with Lopez, 51. But according to the report, “J. Lo still doesn’t trust A-Rod. She is very skeptical, but she heard it because she still has a lot of love for him.

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CFPB reports on mortgage forbearance and defaults – Finance and Banking

United States: CFPB reports on mortgage forbearance and defaults

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In two publications, the CFPB reported on the results of analyzes of mortgage forbearance and pandemic-related defaults and consumer complaints.

In a special feature on “Characteristics of Mortgage Borrowers During the COVID-19 Pandemic,” the CFPB found that mortgage abstention and delinquency is significantly more prevalent in communities of color and low-income communities. The CFPB found that single borrower mortgages accounted for a significantly higher share of past due or overdue loans compared to those that were outstanding. In addition, the CFPB found that “the share of loans with a loan-to-value ratio greater than 60% was significantly higher for borrowers withheld (50%) or in arrears (51%) than for those who were in good standing. (34%) ”. The CFPB concluded that “as programs designed to help mortgage borrowers during the pandemic end, borrowers in forbearance or delinquent programs may be at a disproportionate risk of losing their homes.”

In a newsletter detailing mortgage complaints, the CFPB determined that consumers primarily face issues regarding (i) the accuracy and clarity of the information provided by their loan officers regarding the status of their loans or post-forbearance options and (ii) significant delays or refusals of loan modifications.

The CFPB noted that it had recently published a notice of proposed rulemaking that would amend Regulation X, 12 CFR 1024 and the existing provisions of the Mortgage Service Rule to add additional protections for borrowers related to COVID-19. The public comment period ends on May 10, 2021.

Primary sources

  1. CFPB Press Release: CFPB Releases Reports Detailing Ongoing COVID-19 Challenges for Mortgage Borrowers
  2. CFPB Report: Characteristics of Mortgage Borrowers During the COVID-19 Pandemic
  3. CFPB Report: Complaints Bulletin – Mortgage Forbearance Problems Described in Consumer Complaints

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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LIBOR’s long goodbye

Allen Matkins Leck Gamble Mallory & Natsis LLP

Loan or not, borrowers unwittingly notice changes in the interest rates charged to them. Why do you ask?

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Some states are cutting unemployment benefits to push people back to work – are the extra benefits really keeping Americans out of the workforce?

Jobs in the United States topped 8 million in March for the very first time, the Labor Department said on Tuesday, up from 7.5 million jobs opened the previous month, but many employers say that they cannot find workers.

Given Friday’s disappointing jobs report, which found 266,000 jobs were created last month compared to most economists’ forecast of 1 million jobs, many lawmakers are pushing to cut benefits unemployment, which they say would eliminate a growing labor shortage.

President Joe Biden acknowledged that “some employers are struggling to fill jobs” in his prepared remarks on the jobs report.

But when asked if improved unemployment benefits prevented some workers from returning to work, he replied: “No, nothing measurable.”

“Study after study has shown that improving unemployment benefits did not prevent workers from returning to work”

– Senator Ron Wyden (D., Oregon)

White House economist Jared Bernstein said this was true even in states where the ratio of the amount of money people receive in unemployment benefits to their previous salary is the highest. He added that “we listen to these anecdotes [of labor shortages] we take them seriously, we monitor them, ”he said in an interview with Bloomberg on Friday.

But some argue that improved unemployment benefits play an important role in people’s willingness to return to work. The governors of South Carolina and Montana are tracing labor shortages that employers face in their states to federal unemployment benefits and eliminating them in their states.

“Right now there are 81,684 open positions in the state of South Carolina. The hotel and restaurant industries are experiencing employee shortages that threaten their sustainability, ”said Dan Ellzey, director of the South Carolina Department of Employment and Workforce.

“While federal funds have supported our unemployed during the peak of COVID-19, we fully agree that re-employment is the best stimulus package for Southern Carolinians and the state’s economic health.”

“There are 81,684 open positions in the state of South Carolina. The hotel and restaurant industries are experiencing employee shortages that threaten their sustainability ”

– Dan Ellzey, director of the South Carolina Department of Employment and Workforce

South Carolina Gov. Henry McMaster, a Republican, on Thursday ordered his state’s labor department to end all federal unemployment programs. This includes the additional $ 300 per week that unemployed Americans can receive until September as part of President Joe Biden’s US bailout stimulus package.

Collective workers, independent contractors and self-employed workers would not receive any benefits. These workers only became eligible for federal unemployment benefits through a program under the CARES Act known as Pandemic Unemployment Assistance (PUA).

Montana Governor Greg Gianforte, a Republican, goes even further.

In addition to ending Montana’s participation in federal unemployment benefit programs, effective June 27, Gianforte said the state “will initiate a back-to-work bonus program, using federal funds authorized by the government. the American Rescue Plan Act, ”according to a statement released Tuesday.

The program would pay a one-time bonus of $ 1,200 to those hired who were previously receiving unemployment benefits. A person must have benefited from unemployment insurance by May 4, accept a new job and keep that job for at least 4 weeks of paid work.

“Almost all sectors of our economy are facing a labor shortage”

– Governor of Montana Greg Gianforte

“Montana is open for business again, but I hear too many employers across our state who can’t find workers. Almost all sectors of our economy are facing a labor shortage, ”said Gianforte.

“Incentives matter,” he added, “and the vast expansion of federal unemployment benefits is now doing more harm than good. “

The Labor Department did not immediately respond to MarketWatch’s request to find out whether the state could legally reallocate funds set aside for unemployment benefits.

“According to the Chamber’s analysis, the $ 300 benefit means that about one in four beneficiaries earn more when unemployed than they earned while working.”

– US Chamber of Commerce Executive Vice President and Policy Director Neil Bradley

The US Chamber of Commerce, a business lobby group, agrees with McMaster and Gianforte.

“The disappointing jobs report makes it clear that paying people not to work slows down what should be a stronger job market,” said Neil Bradley, executive vice president and chief policy officer of the United States Chamber of Commerce.

“One step policymakers should take now is to end the additional weekly unemployment benefits of $ 300. According to the Chamber’s analysis, the $ 300 benefit means that about 1 in 4 beneficiaries earn more when unemployed than they earned while working.

Other factors preventing Americans from returning to work

Ben Zipperer, an economist at the Economic Policy Institute, a progressive think tank, tweeted this in response to the US Chamber of Commerce:

Zipperer said other factors, including fears of returning to the workplace and inadequate wages, play a role in the equation. “It’s hard to overstate the difficulty and stress that work in the service sector now demands: additional health and safety protocols, anti-vaccine management, serious risk of disease,” he wrote on Twitter . “To ask someone to work for the salary before the pandemic is to ask for a real pay cut.”

Recent research suggests that increased unemployment benefits do not prevent workers from re-entering the workforce, or at least trying to: A Chicago Federal Reserve study earlier in the pandemic, when Americans without employment received $ 600 more per week in benefits, found that those receiving benefits “looked more than twice as intensely” for a job as those who had exhausted their benefits.

Sen. Ron Wyden, an Oregon Democrat who heads the Senate Finance Committee, called efforts to eliminate improved unemployment benefits “deeply concerning.”

“Improved unemployment benefits have helped save the economy by ensuring that millions of families can pay rent and shop for groceries during this crisis,” he said in a statement Friday. “Cutting all benefits when millions of workers have not yet been able to return to work could cause enormous financial hardship and sabotage our economic recovery. “

“Study after study has shown that improving unemployment benefits has not prevented workers from returning to work, and other factors are at play here, such as the lack of childcare services for millions of women and lingering concerns about the virus. ”

Employees’ desire to return also seems to vary depending on the sector. “[T]he employment report shows a sharp increase in leisure and hospitality jobs, suggesting that ‘generous’ unemployment insurance is not a barrier to working in these industries, ”said Chad Stone, chief economist at the Center on Budget and Policy Priorities, a think tank focused on the impact of budget and tax issues on inequality and poverty.

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