U.S. to relaunch small business pandemic aid program Monday with new fraud checks

Erwin Oropesa

TipRanks

Oppenheimer: These 3 Stocks Could Spike Over 80%

Wall Street’s best firms don’t just look at the stocks, they look at the big picture, too. And Oppenheimer’s chief investment strategist, John Stoltzfus, is particularly adept at showing us the macro view. In his first note of the new year, Stoltzfus notes a series of factors that are going to impact the markets. The big news, of course, the 800-pound gorilla that cannot be ignored, is the ongoing COVID epidemic. The disease is coming back strong now that we’re well into winter – which was somewhat expected, as it’s typical behavior for flu-like respiratory viruses. With the winter virus surge, we also must contend with a new round of lockdown policies, imposed from state or local levels. It’s hoped that the newly available COVID vaccines will, by springtime, start to put a damper on the novel coronavirus.”The length of time

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U.S. lenders score small business relief, accounting help in pandemic package

Erwin Oropesa

TipRanks

Goldman Sachs Says These 3 Stocks Could Surge Over 30% From Current Levels

After a true annus horribilus, we’re all ready for better times. The US equity strategy team at Goldman Sachs, led by David Kostin, sees those better time ahead, and in the near-term. The team is predicting a 25% gain for the S&P 500 within the next 24 months – or to put it in absolute numbers, they believe the index will hit 4,600 by December 2022. Kostin lays out four clear reasons for believing that we’re at the start of another prolonged bull run. First, he notes the generally improving economic conditions; second, he points out corporate earnings growth; third, are the historically low interest rates, as the Fed sticks to its near-zero rate policy; and finally, there’s TINA, or ‘there is no alternative.’ Stocks are entering a virtuous circle, Kostin believes, as they offer the

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One in five small business loan requests delayed or rejected

Erwin Oropesa

Thousands of small businesses face collapse as one in five applications for the emergency coronavirus Bounce Back loan scheme has yet to be approved. 

Almost 120,000 firms which applied for cash from the flagship rescue programme have either had their applications declined or are still waiting to hear if they will receive help – putting them at risk of going under as the lockdown grinds on.

More than a third of applications at HSBC, Britain’s biggest bank, have not been approved. 

A total of 581,516 businesses have applied for Bounce Back loans of up to £50,000 since the scheme launched on May 4, with more than £14bn paid out to 464,393 companies so far.

The emergency funding is handed out by banks but backed by the state, with taxpayers covering all of lenders’ losses if a borrower defaults. The loans are interest free for the first 12 months.

Lenders claim

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