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Problems with federal financial aid program leaves many college bound students in limbo

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Problems with federal financial aid program leaves many college bound students in limbo

FAFSA glitches leave high school seniors in limbo

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FAFSA glitches leave many high school seniors in limbo

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Computer glitches in the U.S. Department of Education’s recently overhauled financial aid system have left many students unable to commit to a school.

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Jojo Henderson, a senior from Pittsburg, Texas, was stuck in limbo for months while waiting to learn what sort of financial aid he might get.

“I’m frustrated because it’s just like, you do everything that you’re supposed to do and then you have to wait on the government to catch up,” Henderson told CBS News.

Henderson filled out the free application for federal student aid, known as FAFSA, almost five months ago. With just weeks to go before graduation, he finally received his financial information last week — after some college deadlines had already passed.

Typically, the Department of Education releases the forms on Oct. 1 and sends the students’ data to colleges within one to three days of a submission. This year, the application forms came out three months late. It’s estimated that more than 25% of colleges have still not sent aid packages, according to a report last week from the National Association of Student Financial Aid Administrators. 

New Jersey senior Jailen James finally received her aid package close to the decision deadline. She told CBS News that before it arrived, she considered giving up and not going to college.

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“I was just so tired of waiting,” she said.

As the FAFSA fiasco continues, Sara Urquidez, who oversees college counseling for thousands of public school students in the Dallas area, said those who are stuck waiting should follow up as much as possible.

“Ask for extensions. Ask if deposits for housing are refundable. Ask for anything they possibly can to help make [a?] decision,” she told CBS News.

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Finance

Air Liquide successfully issues a €500 million green bond to finance energy transition

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Air Liquide successfully issues a €500 million green bond to finance energy transition




















Published by Poppy Clements,
Editorial Assistant




Hydrocarbon Engineering,






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Air Liquide has successfully issued a new €500 million green bond, in line with its ambition to combine growth and sustainable development. The group intends to use the proceeds from the issuance to finance or refinance flagship energy transition and sustainable projects, in particular in low-carbon hydrogen, carbon capture and low-carbon air gases. This new issuance confirms Air Liquide as a regular ESG issuer, after its inaugural 2021 green bond issue.

This transaction, significantly oversubscribed by investors, was executed under the Group’s Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising €500 million with a 10-year maturity at a yield of 3.466%.

Proceeds from this issuance will allow Air Liquide to finance or refinance flagship energy transition and sustainable projects and to support the Group’s long term growth at very competitive financial conditions.

Jérôme Pelletan, Group Chief Financial Officer, commented: “The success of this second green bond issuance illustrates the investors’ confidence in Air Liquide’s ability to implement technologies and pioneer projects that contribute to the decarbonisation of our activities as well as help our customers lower their carbon footprint. This is in line with our strategic plan ADVANCE, which inseparably links financial and extra-financial performances. The technologies Air Liquide masters notably in the fields of low-carbon hydrogen, carbon capture and low-carbon air gases actively and concretely contribute to a transition to a low-carbon society.”

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Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/24052024/air-liquide-successfully-issues-a-500-million-green-bond-to-finance-energy-transition/


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Vedanta, Tata Consumer Products, QGO Finance shares to trade ex-dividend today

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Vedanta, Tata Consumer Products, QGO Finance shares to trade ex-dividend today

Dividend stocks: Shares of Vedanta Limited, Tata Consumer Products Ltd, QGO Finance Ltd, Bharat Dynamics, and Som Distilleries & Breweries Ltd will be in focus when the stock market opens on May 24 (Friday).

The boards of Directors of these companies have declared interim dividends, final dividends, and stock splits for their eligible shareholders. 

These companies have fixed May 24 as the record date to ascertain the eligibility of shareholders for their respective issues.

ALSO READ: Multibagger: HBL Power Systems stock soared 1254% in 3 years, jumped over 5360% in a decade

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Dividend

Vedanta: The company has declared an interim dividend of 11.00 per equity share.

In a stock exchange filing, Vedanta said the Board of Directors declared “First Interim Dividend of 11/- per equity share on the face value of 1/- per equity share for the Financial Year 2024-25 amounting to c. 4,089 Crores.”

Tata Consumer Products: The company has declared a final dividend of 7.75 per equity share.

In a stock exchange filing, Tata Consumer Products said: “The Board had recommended a dividend of 7.75 per equity share of 1 each (775%) subject to approval by the shareholders of the Company at the 61st AGM.”

ALSO READ: IT Sector Q4 Review: Axis recommends buying Persistent, KPIT after March quarter results

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QGO Finance: The company has declared an interim dividend of 0.15 per equity share.

In a stock exchange filing, QGO Finance said the Board of Directors declared “Interim Dividend at Rs. 0.0015 (1.5 %) per Equity Share (Subject to Deduction of TDS) on the face value of the paid-up equity shares of Rupees 10/- each for the quarter Jan 24 to March 24.”

“Further, it is hereby informed that Thursday, May 24, 2024, shall be reckoned as the ‘Record Date’ to ascertain the eligibility of shareholders for payment of Interim Dividend for the FY 2023-24,” the filing added.

Shares of Vedanta, Tata Consumer Products, and QGO Finance will trade ex-dividend on Thursday.

Stock Split

Bharat Dynamics: The company has declared a stock split from 10 per equity share to 5 each.

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In a stock exchange filing, Bharat Dynamics said: “We wish to inform you that, the Company has fixed Friday 24 May 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.”

Som Distilleries & Breweries: The company has declared a stock split from 5 per equity share to 2 each.

In a stock exchange filing, Som Distilleries & Breweries said the Board of Directors approved “the sub-division of each of the Equity Shares of the Company having a face value of Rs. 5/—each sub-divided into a face value of Rs. 2/—each.”

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Published: 24 May 2024, 06:30 AM IST

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UBS latest bank to announce NJ job cuts as finance sector shrinks

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UBS latest bank to announce NJ job cuts as finance sector shrinks


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Swiss bank UBS is laying off 51 employees at its Weehawken office, public records show, as New Jersey’s banking and finance sectors more broadly grapple with tightening budgets amid uncertain economic times. 

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UBS is reportedly looking to trim its costs by $13 billion, which includes cutting one in every 12 employees, according to Reuters. A spokesperson for UBS declined to comment for this story. 

Data from state filings showed that five financial institutions announced New Jersey layoffs so far in 2024: The Bank of New York Mellon Corporation, TD Bank, Prudential Financial, Citibank and JPMorgan Chase Bank. 

Some of those banks — including Citibank and Charles Schwab — are cutting their head counts by the thousands or tens of thousands across their entire operations.

Nationwide, Charles Schwab is cutting 2,000 employees and Citibank 20,000 of its staff. 

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“Banks are reducing back-office costs, and this includes people and head count reductions, unfortunately,” said Christopher Marinac, director of research at Janney Montgomery Scott, a financial services firm. “Overall, bank earnings are stable and generally not growing. Further, bank balance sheets are not expanding much this year.” 

One factor — the Federal Reserve, which has raised interest rates 11 times since the COVID-19 pandemic. That pushed mortgage rates higher for homebuyers, meaning fewer people obtained mortgages, prompting Wall Street to respond with layoffs, said a report by CNBC. 

That resulted in the state’s first job losses in half a year, unemployment figures show.  

“Banks are being careful on new lending and trying to retain more capital as the Federal Reserve is tightening standards and raising capital requirements soon,” Marinac said. 

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James Hughes, an economist at Rutgers University, told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.

Layoffs this year

New Jersey companies are letting go of more than 4,600 employees in 2024, public records show. 

The layoffs include 2,774 job cuts announced in 2023 for this year, and another 1,847 cuts announced in the first three months of 2024. 

Those cuts come at a time when New Jersey’s workforce posted a net loss in jobs for the first time in six months. Meanwhile, the state unemployment rate has hovered at 4.8% since September, state data shows.

Daniel Munoz covers business, consumer affairs, labor and the economy for NorthJersey.com and The Record. 

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Email: munozd@northjersey.com; Twitter:@danielmunoz100 and Facebook

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