Tag: extend

Dow erases early climb, S&P 500 notches third straight gain as tech stocks extend rebound from last week’s rout

U.S. stocks finished mostly higher on Tuesday as the blue-chip Dow shed early gains ahead of a policy update by the Federal Reserve. The Nasdaq led the broader market rally as technology shares continued to make up lost ground from last week’s selloff.

The Dow Jones Industrial Average
DJIA,
+0.00%

 rose 2.27 points to finish at 27,995.60, while the S&P 500
SPX,
+0.52%

 gained 17.66 points, or 0.5%, to trade at 3,401.20, marking its third straight increase. The Nasdaq Composite
COMP,
+1.20%

 finished up 133.67 points, or 1.2%, at 11,190.32, logging back-to-back gains.

On Monday, the Dow rose 327.69 points, or 1.2%, to finish at 27,993.33, after briefly trading above the 28,000 threshold. The S&P 500 added 42.57 points, or 1.3%, closing at 3,383.54. The Nasdaq Composite climbed 203.11 points, or 1.7%, to end at 11,056.65, rebounding from a rout that last week saw the tech-heavy index enter correction territory

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Labour promises to extend interest-free period for small business loans, regulate card transaction fees | 1 NEWS

Labour is promising to keep helping small businesses deal with economic impact of the Covid-19 pandemic, announcing new policies today.

Credit card payment (file picture).
Source: istock.com


The party is promising to extend the small business cashflow scheme by three years and make the second year interest-free. They’ll also regulate fees charged to retailers for debit and credit card transactions.

Currently, the small business cashflow loans are interest free if paid back within a year and will provide $10,000 to every firm, in addition to $1800 per equivalent full time employee. The passing of the law was the result of an administration error, Interest reported.

Applications are set to close for the scheme at the end of this year, however, should Labour be re-elected it promised to make it available for another three years and make the second year of the loan interest free as well. 

Small business spokesperson Stuart

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