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‘We must acknowledge what’s happening’ – the hidden devastation of financial abuse | Commonwealth Bank Australia: Next Chapter

‘We must acknowledge what’s happening’ – the hidden devastation of financial abuse | Commonwealth Bank Australia: Next Chapter

Warning: this article contains details that some readers may find distressing.

Six years ago, Jane was able to escape from domestic violence. She had been working tirelessly to support her children and a husband who claimed to have no money. When she left, she discovered he had been earning more than $250,000 a year.

“I had become so tired and so browbeaten just through the process of managing it day by day that I thought, how do I move myself out of this situation?” she says. “It took so much energy to actually pick myself up and take my children.”

Like many victims of family violence, Jane appeared on paper to have it together. She is a former dean of a university, and has a master’s degree. But in private, she was subject to years of financial, emotional and physical abuse that left deep scars on her family.

“I had to stop working because I had a traumatised daughter,” Jane says. “Even now, she still has moments where her trauma becomes so much it is unmanageable. The impact of the financial abuse permeates through everything.”

Australia’s domestic violence laws repeatedly fail victims of abuse. The understanding and management of trauma – suffered by parents and children – is lacking.

For Jane, financial abuse meant she had no choice but to work herself to the bone, frightened by the fallout if she didn’t. Her solicitor husband had withheld his high earnings and left Jane to manage the strain of supporting the household.

“Psychological abuse and financial abuse are part of the same cycle,” she says. “I actually collapsed and had to go to hospital because I had absolutely flogged myself, working incredibly hard with two small children. After we separated, and I received the child support statements, I realised that while

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JetBlue Upgraded and Downgraded: What’s Next?

JetBlue Upgraded and Downgraded: What’s Next?

JetBlue Airways (NASDAQ:JBLU) stock got a big upgrade from J.P. Morgan analysts last Wednesday. Less than 24 hours later, however, Fitch — one of the three major credit rating agencies — cut the airline’s credit rating to junk territory. 

These dueling changes to ratings highlight the substantial uncertainty about airlines’ short- and medium-term prospects. Let’s take a look at the justifications for the analyst moves and what they mean for JetBlue stock moving forward.

JetBlue stock gets a boost

J.P. Morgan analyst Jamie Baker downgraded JetBlue to an underweight rating (the equivalent of sell) in June following a furious rally that saw JetBlue stock surge nearly 90% in just a few weeks. At the time, Baker correctly predicted that airline stocks’ momentum couldn’t last.

JetBlue shares have subsided since then, pulling back about 20% from their early June high. That, along with continued progress toward vaccines, prompted the J.P. Morgan analyst team to turn bullish again. On Wednesday, the brokerage upgraded JetBlue stock to outperform and raised its price target to $17, well above the stock’s current trading price.

JBLU Chart

JetBlue Stock Performance. Data by YCharts.

Interestingly, Baker is not especially bullish about JetBlue’s near-term prospects. He believes that demand is not living up to management’s expectations. However, the analyst argues that the airline will respond to any demand shortfall with additional cost cuts to trim cash burn. Moreover, JetBlue has ample cash to make it through the next year and is well-positioned to capitalize on a rebound in demand in 2022.

Fitch sounds a note of caution

Credit analysts at Fitch were more cautious about JetBlue last week, downgrading its long-term issuer default rating to BB-, or three notches below investment-grade status. Entering March — just before the pandemic crushed U.S. air travel — Fitch’s rating on JetBlue was just

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What’s In It For You?

What’s In It For You?

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© Provided by iMoney

On September 11, 2020 President Duterte signed the “Bayanihan to Recover as One” or Bayanihan 2 law. The law grants special powers to Duterte in response to the Covid-19 crisis until December 19.  This was signed into law during the government declaration of lockdown as a response to the COVID-19 outbreak but it has already lapsed by June 2020. The previous “Bayanihan to Heal as One” or Bayanihan 1 had granted special powers to Duterte but this ended on June 5.  This law had prepared a ₱165 billion response fund to the Covid-19 pandemic. The budget will be used for measures to protect health workers, aid the educational system and help alleviate the economic situation of the country. This second round of economic stimulus under Bayanihan 2 is aimed at keeping the economy going. So what’s in it for you? Here’s a quick run down of the key benefits.

Economic Recovery

The pandemic has gravely affected workers, business owners, individuals, and families, economically. To aid in the recovery, Bayanihan 2 has allotted a budget to specifically help keep the economy going. [block type=”info” title=”What this law will provide:”]

  • ₱13 billion for unemployment or involuntary separation assistance for the self-employed, displaced workers, freelancers, overseas Filipino workers (OFWs) affected by the government deployment ban.
  • ₱39.5 billion to government financial institutions (GFIs) which is as follows: 
    • ₱6 billion to the Development Bank of the Philippines (DBP) to infuse low-interest loans for laborers and businesses owners affected by the crisis
    • ₱5 billion for the credit guarantee program
    • ₱10 billion to provide assistance to Restart Enterprises or CARES program of the trade department’s Small Business Corporation (SBC)
    • ₱6 billion to micro, small, and medium enterprises (MSMEs) in the tourism industry hard-hit by the pandemic
    • ₱18.4 billion to the Land Bank of
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Devils still have big need after signing Corey Crawford, trading for Ryan Murray | What’s next? Who’s left in free agent market?

Devils still have big need after signing Corey Crawford, trading for Ryan Murray | What’s next? Who’s left in free agent market?

Devils general manager Tom Fitzgerald vowed to tackle his first free agent market with patience, and that’s exactly what he did Friday after the market opened at noon in the East.

All day.

Almost all night.

With lots of cap space to spend and pressing needs to address, the rebuilding Devils made a big move about an hour before the clock struck 12 midnight by signing veteran goalie Corey Crawford to a two-year, $7.8-million pact.

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What an intriguing addition this was.

Crawford, 35, will go down in Blackhawks history as a franchise great because the Montreal native was in the net for two Stanley Cup wins during his 13 mostly good seasons with Chicago, and this move filled a Devils hole because Cory Schneider, their No. 2 goalie last season when he wasn’t demoted to the AHL, was bought out on Thursday.

Now Crawford will be asked to play a lesser role both as an often-used No. 2 and mentor to starter Mackenzie Blackwood, who was pretty good as a rookie last season.

The Crawford signing was announced 24 hours after the Devils took advantage of a division rival being up against the cap when they acquired defenseman Ryan Murray from the Columbus Blue Jackets for just a fifth-round pick. With Murray, the second pick of the 2012 draft, seemingly over chronic back problems and expected to be a first- or second-pair defenseman next season, he could be a steal for the Devils even though he has just one season remaining on his contract.

That deal also filled a need, which leaves one pressing one for Fitzgerald, who would love to bring in a goal-scorer to play left wing on

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