Day: September 15, 2020

Dow ends 327 points higher as stocks rebound amid vaccine hopes, IPO rush and corporate deal-making

U.S. stocks rose Monday, taking back a chunk of last week’s losses amid fresh hope for a coronavirus vaccine, a flurry of initial public offerings and potential corporate mash-ups, including reports that Oracle plans to forge a partnership with TikTok, the popular China-based social-media platform.

The Dow Jones Industrial Average

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, snapping a two-session losing streak.

The Russell 2000 index

of small-capitalization stocks rose 39.70 points, or 2.7%, to end at 1,536.97, outperforming the major stock benchmarks.

Equities ended Friday with the Dow posting a weekly loss of 1.7%, while the S&P 500 fell 2.5% and the Nasdaq Composite Index dropped 4.1%, marking its

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Forecast deficit in B.C. grows to $12.8 billion under COVID-19

British Columbia is forecasting a $12.8-billion deficit for the 2020-21 fiscal year.

The deficits are driven by the economic impact of the novel coronavirus pandemic, but there is some optimism from the B.C. government based on recent job numbers.

Finance Minister Carole James has outlined the financial picture based on the first quarter of the year, which goes from April until the end of June.

B.C. forecasting a $12.8B deficit, kids return back to the classroom

B.C. forecasting a $12.8B deficit, kids return back to the classroom

The forecast comes after the province provided a financial snapshot in July.

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Since the summer, the overall impacts of the pandemic on revenues and expenses are lower than anticipated, with a $5.7-billion decline from Budget 2020, compared to a $6.3-billion decline shown in the July scenario.

The deficit has grown to reflect $1 billion built in by the

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N.H. Insurance Department Approves Proposal to Reduce Voluntary Loss Costs

The New Hampshire workers’ compensation insurance market will continue to experience historically low rates in 2021, according to a press release issued by the New Hampshire Insurance Department.

This comes after the New Hampshire Insurance Department approved a rate proposal filed by the National Council on Compensation Insurance (NCCI) that will reduce voluntary loss costs by 1.8% on average.

The NCCI is a licensed rating and statistical organization that gathers data, analyzes industry trends and prepares workers’ compensation rate filings for New Hampshire and many other states.

Loss costs in the voluntary market have decreased in each of the last eight years and 50% cumulatively over this period. The loss cost is the portion of an employer’s insurance premium that pays claims costs for work-related injuries. The loss cost is ultimately used by insurers to set rates and premiums in the voluntary market.

All insurers writing voluntary workers’ compensation in

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