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Flexport unveils e-commerce tools as returned CEO aims to regain profitability
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2023-09-12 18:22
US in antitrust trial accuses Google of illegal methods to push up ad prices
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Australia Hydrogen Startup Hysata Taps Morgan Stanley for Funding Round
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2023-06-15 11:28
Supreme Court strikes down Biden’s plan to cancel student loan debts
The US Supreme Court has struck down President Joe Biden’s plan to cancel student loan debts for millions of Americans, reversing his campaign-trail promise as borrowers prepare to resume payments this summer. Chief Justice John Roberts delivered the 6-3 decision from the court’s conservative majority. The ruling, which stems from a pair of cases challenging the Biden administration and the US Department of Education, argues that the president does not have authority to implement sweeping relief, and that Congress never authorised the administration to do so. Within 30 minutes on the last day of its term, the court upended protections for LGBT+ people and blocked the president from a long-held promise to cancel student loan balances amid a ballooning debt crisis impacting millions of Americans. Under the plan unveiled last year, millions of people who took out federally backed student loans would be eligible for up to $20,000 in relief. Borrowers earning up to $125,000, or $250,000 for married couples, would be eligible for up to $10,000 of their federal student loans to be wiped out. Those borrowers would be eligible to receive up to $20,000 in relief if they received Pell grants. Roughly 43 million federal student loan borrowers would be eligible for that relief, including 20 million people who stand to have their debts canceled completely, according to the White House. Roughly 16 million already submitted their applications and received approval for debt cancellation last year, according to the Biden administration. The long-anticipated plan for debt cancellation was met almost immediately with litigation threats from conservative legal groups and Republican officials, arguing that the executive branch does not have authority to broadly cancel such debt. Six GOP-led states sued the Biden administration to stop the plan altogether, and a federal appeals court temporarily blocked any such relief as the legal challenges played out. Since March 2020, with congressional passage of the Cares Act, monthly payments on student loan debt have been frozen with interest rates set at zero per cent. That Covid-19-pandemic era moratorium, first enacted under Donald Trump and extended several times, was paused a final time late last year – until the Education Department is allowed to cancel debts under the Biden plan, or until the litigation is resolved, but no later than 30 June. Payments would then resume 60 days later. The amount of debt taken out to support student loans for higher education costs has surged within the last decade, alongside growing tuition costs, increased private university enrollment, stagnant wages and GOP-led governments stripping investments in higher education and aid, putting the burden of college costs largely on students and their families. The crisis has exploded to a total balance of nearly $2 trillion, mostly wrapped up in federal loans. Millions of Americans also continue to tackle accrued interest without being able to chip away at their principal balances, even years after graduating, or have been forced to leave their colleges or universities without obtaining a degree at all while still facing loan repayments. Borrowers also have been trapped by predatory lending schemes with for-profit institutions and sky-high interest rates that have made it impossible for many borrowers to make any progress toward paying off their debt, with interest adding to balances that exceed the original loan. One analysis from the Education Department found that nearly 90 per cent of student loan relief would support people earning less than $75,000 per year. The median income of households with student loan balances is $76,400, while 7 per cent of borrowers are below the poverty line. That debt burden also falls disproportionately on Black borrowers and women. Black college graduates have an average of $52,000 in student loan debt and owe an average of $25,000 more than white graduates, according to the Education Data Initiative. Four years after graduating, Black student loan borrowers owe an average of 188 per cent more than white graduates. Women borrowers hold roughly two-thirds of all student loan debt, according to the American Association of University Women. Mr Biden’s announcement fulfilled a campaign-trail pledge to wipe out $10,000 in student loan debt per borrower if elected, though debt relief advocates and progressive lawmakers have urged him to cancel all debts and reject means-testing barriers in broad relief measures. In November 2020, the president called on Congress to “immediately” provide some relief for millions of borrowers saddled by growing debt. “[Student debt is] holding people up,” he said at the time. “They’re in real trouble. They’re having to make choices between paying their student loan and paying the rent.” This is a developing story Read More Supreme Court allows Colorado designer to deny LGBT+ customers in ruling on last day of Pride Month Biden condemns Supreme Court striking down affirmative action: ‘This is not a normal court’ Justice Ketanji Brown Jackson delivers searing civil rights lesson in dissent to affirmative action ruling
2023-06-30 23:16
A mysterious source has been sending radio signals to Earth from space for decades
An unknown source has been sending radio blasts towards Earth since at least 1988, scientists say. The researchers do not know what object is sending the radio waves towards Earth. The nature of the waves is such that they do not conform with any models that attempt to explain it. For 35 years, the source has been sending out regular 20-minute blasts of energy that vary considerably in their brightness, researchers say. The emissions appear something like the blasts that come out of pulsars or fast radio bursts, which last for milliseconds to several seconds. But the newly discovered source sends radio signals that pulsate on a period of 21 minutes – something previously thought impossible by expected explanations. Pulsars are neutron stars that spin around quickly, throwing out radio blasts as they do. When one crosses Earth, the emissions can be picked up very briefly and brightly, like being in the path of the light from a rotating lighthouse. Scientists believe that process can only work if the magnetic field of the pulsar is strong, and it is rotating quickly enough – if not, there would not be enough energy to see the pulsar from Earth. That has led to the development of the “pulsar death line”, which suggests that sources must be spinning fast and strong enough to be detected. The newly discovered object named GPMJ1839-10, however, is way beyond that death line. If it is a pulsar, then it seems to be operating in ways that scientists thought impossible. It could also be a highly magnetised white dwarf or magnetar, an extra kind of neutron star with incredibly strong magnetic fields. But they do not tend to send out emissions of this kind, researchers believe. The signals have been detected on Earth since at least 1988, scientists found by going through old records, but they had gone unnoticed by those collecting that data. After the source was detected, researchers checked radio archives and found that the source has been repeating for at least 35 years. Yet more discoveries may be made in this way in the future, said Victoria M Kaspi, a professor of physics at McGill University who did not work on the study. “Only time will tell what else lurks in these data, and what observations across many astronomical timescales will reveal,” she wrote in an accompanying article. That might include some explanation of how unusual the newly discovered source is. By examining whether there are is a similar collection of other objects in the data, researchers might be able to understand the mechanisms behind the newly discovered emissions. The findings are reported in a new paper, ‘A long-period radio transient active for three decades’, published in the journal Nature. Read More Scientists invent self-healing solar panels with ‘miracle material’ Powerful solar flare to disrupt communications, Russians warn New technique represents major breakthrough in search for aliens, scientists say
2023-07-19 23:59
Erase yourself online with 55% off Incogni plans
TL;DR: Save 55% on an annual Incogni plan to protect your online identity. Every day,
2023-06-28 22:54
911 workers say centers are understaffed, struggling to hire and plagued by burnout
Emergency call center workers say their centers are understaffed, struggling to fill vacancies and plagued by worker burnout
2023-07-25 21:24
Twitter says users must be verified to access TweetDeck
By Sheila Dang (Reuters) -Twitter users will soon need to be verified in order to use TweetDeck, the social media
2023-07-04 07:19
Bruker Announces SciY™ Platform of Advanced Scientific and Automation Software Solutions for the Digital Transformation of the Life Science and Biopharma Industries
ZUERICH, Switzerland--(BUSINESS WIRE)--Jun 30, 2023--
2023-06-30 19:22
Who is Lil Tay's mother? Angela Tian accused of taking advantage of her daughter's online fame
Lil Tay was found dead on August 9 at the age of 14 years
2023-08-10 15:45
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