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[ad_1] While speaking at a conference on the bank’s June quarter earnings, Rao said PNB is awaiting a decision from the Securities Appellate Tribunal (SAT) on the PNB Housing Finance-Carlyle deal as it is a matter of interpretation of law. [ad_2] Source link

[ad_1] When you hear people say that the current housing market is like 2008 all over again, you may want to remind them of the huge differences between this market and that one. The previous economic expansion, from 2010-2019, wasn’t a housing bubble. Quite the opposite: In that cycle we had the weakest housing recovery ever, even with the lowest mortgage rates during the longest economic expansion ever. When you don’t have a boom in housing market demand, it’s hard to have an epic bust. Regarding the current housing market, I am on record expressing my concern about prices overheating.  Because of this I am calling this the unhealthiest housing market post-2010. But is it a bubble? Bubbles don’t typically occur in the same sector in back-to-back cycles, so although prices are hot, I believe the price increases don’t warrant the housing bubble label due to the lack of bubble-driven sales growth. There are several important reasons why the market today is materially different then the bubble-forming market of 2005. Speculation demand First, a bubble needs speculation demand and this generally coincides with excess leverage. From 2002 to 2005 we experienced a credit boom due to the rapid increase in borrowing for speculation purchases.  We were able to ramp up demand and feed the credit boom by offering higher risk, exotic loans. Pretty much anyone could get one of those loans. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post This is not 2008 all over again for the housing market appeared first on HousingWire. [ad_2] Source link

[ad_1] The post SolarEdge Stock Shines after Delivering Q2 Earnings Beat appeared first on Millennial Money. Shares of SolarEdge Technologies (NASDAQ: SEDG) are shining bright after the company reported second quarter earnings on Monday evening. The results easily topped the market’s expectations, and the solar inverter specialist offered investors a rosy outlook for next quarter despite ongoing supply chain challenges. As of 12:30 p.m. EDT, SolarEdge stock was up by 15%. Navigating a challenging supply chain situation Revenue in the second quarter increased 18% to $480.1 million, comfortably above the consensus estimate of $455.7 million in sales. Revenue from the core solar segment was $431.5 million, comprising 90% of total revenue. During the quarter, SolarEdge shipped approximately 5 million power optimizers and 180,000 power inverters.  The non-solar business generated $49 million in revenue, which was primarily attributable to increasing production of powertrain units and batteries for Stellantis (NYSE: STLA) subsidiary Fiat and its e-Ducato light commercial vehicle. SolarEdge scored that contract earlier this year as the Italian automaker is looking to electrify 60% of its vehicle lineup by the end of 2021. “We are happy to finish the second quarter of 2021 with record revenues in both our solar and non-solar businesses and with continued strong demand for our products in the various geographies and across the different segments,” CEO Zvi Lando commented in a statement. “We are successfully navigating through the challenging supply chain environment while continuing to support our customers’ growth and expansion with new and existing products.” Just about every industry is being impacted by the global chip shortage, and the solar sector is no exception. SolarEdge has been navigating the difficult logistics environment by implementing a multisource strategy. For example, a manufacturing partner’s facility in Vietnam is currently operating at reduced capacity due to the pandemic, but SolarEdge was able to increase output at other factories in China, Hungary, and Israel. That may result in higher tariffs and freight costs. Adjusted net income came in at $72.5 million, or $1.28 per share. Investors were expecting just $1.11 per share in adjusted profits. A bright outlook Guidance for the third quarter was also strong, with revenue forecast in the range of $520 million to $540 million. Analysts are currently looking for $503.4 million in sales. Solar segment revenue is expected to be $460 million to $480 million of that total. The adjusted gross margin should be 32% to 34%. SolarEdge expects to ship 25 megawatt-hour (MWh) to 30 MWh of batteries in the third quarter as the company ramps up production. In order to accommodate growing demand for battery storage in residential systems, SolarEdge has inked a supply agreement with Samsung for 1 gigawatt-hour (GWh) of cells in 2022. On the conference call with analysts, Lando noted that SolarEdge has now enjoyed three consecutive quarters of strong growth in its residential products.  The company will pass along some of the higher freight costs to customers in the form of modest price increases in the third quarter. Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Click here to learn more The post SolarEdge Stock Shines after Delivering Q2 Earnings Beat appeared first on Millennial Money. [ad_2] Source link

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[ad_1] Apple, healthcare stocks lift S&P 500 amid Delta variant worries [ad_2] Source link

[ad_1] The central bank said outsourcing of any activity by a PSO shall not reduce its obligations, and those of its board and senior management, who are ultimately responsible for the outsourced activity. “This framework is applicable to non-bank PSOs insofar as it relates to their payment and/ or settlement-related activities. [ad_2] Source link

[ad_1] The post What is Lifestyle Creep? appeared first on Millennial Money. Ali is 30 years old and has a great job that pays $75,000 per year. By all measures, Ali is crushing it and lives a fun lifestyle. Ali takes expensive vacations, eats at the best restaurants, and drives a brand new car.  It hasn’t always been like this for Ali, though. Ali struggled just after college, working an entry-level job that paid half the going rate. Over time, Ali made more and more money… and the bills kept racking up. Ali is experiencing lifestyle creep and needs to get a hold of the situation before it’s too late. Keep reading to learn why lifestyle creep is such a problem for young consumers. Lifestyle Creep: An Overview Simply put, lifestyle creep—or lifestyle inflation—occurs when someone’s standard of living increases as their income rises.  Most people enter the workforce on a limited salary, without much money to spend. As they advance and their income increases, things that were once acceptable are no longer valued.  Someone may start with an economy car with no bells and whistles. Then they’ll hit a payday, earn a bunch of extra cash, and blow it all on a new car that costs half their annual salary.  Why Lifestyle Creep is a Problem Here are some of the reasons lifestyle creep is a problem over the long term.  Less retirement savings When you spend too much each month, it leaves less to put away in tax-friendly retirement accounts. Shockingly, the long-term cost could be in the seven figures. Also, spending more today (versus saving and investing) means you may have to work more years before retirement.  Debt Overspending can quickly lead to debt. You could wind up with a massive credit card bill and a car loan you’ll be paying off for years to come. The only winner in that scenario is the bank or lender charging you interest fees. Don’t let the bank win. Delayed financial freedom If you’re looking to build a strong financial future, you have to control lifestyle creep. Without delaying gratification and a high savings rate, it’s impossible to reach financial independence.  Is Lifestyle Creep Always Bad? Lifestyle creep usually has negative connotations, but it’s not always a bad thing. After all, there’s little point in working harder and pushing yourself if you can’t enjoy what you bring in.  That said, there’s a big difference between splurging unnecessarily and spending a little money to improve your situation.  Examples of “Good” Lifestyle Creep Here are some cases where a little bit of lifestyle inflation is okay. Attracting a partner When it comes to dating and attracting a life partner, it pays to be generous. That’s not to suggest you should make it rain every weekend, but being excessively frugal can work against you. It’s hard to have a social life if you never go out, after all! That said, plenty of people find frugality attractive. It demonstrates strong discipline and financial management. With money and relationships, it’s all about balance. Starting a family Lifestyle inflation can reach new levels when kids get involved.  All of a sudden, you need a bigger home! A safer car! Or, you feel pressured to spend more money on a stroller than you did on your honeymoon.  You may also feel the need to start buying expensive clothes and toys for your children. All of this can quickly add up to a huge amount of money. Wanting a nicer standard of living As you get older, your tastes naturally change. The whiskey bottle lamp and Parental Advisory poster you loved in your early 20s just… aren’t cool anymore. You also might want to start dressing more professionally and eating healthier. There’s nothing wrong with wanting a lifestyle upgrade so long as you can afford it. This is a part of everyone’s financial journey. And if you find that you can’t afford the things you want, then it’s time to ramp up your earning potential.  Examples of “Bad” Lifestyle Creep Here are some negative examples of lifestyle creep. Avoid them at all costs.  Keeping up with the Joneses For some, seeing friends and neighbors doing well can trigger a strong emotional response, causing them to go on a spending spree. The classic example: a neighbor stopping by to show off a new lawnmower, causing you to go out and buy a nicer one. It’s just not a healthy way to go about life, mentally or financially. Overspending because you can Another damaging habit is buying something you want instead of something you need. Maybe you see a commercial for the new PS5 and want to upgrade. Or, you hear of an alluring vacation spot and picture yourself there.  Spending just because you can is an easy way to drain your savings and wind up in debt. It’s critical to maintain control and be selective about purchases.  Letting daily expenses accumulate Oftentimes, consumers don’t realize lifestyle creep is occurring. Small expenses can slowly turn into larger recurring payments.  When you’re broke, going to the grocery store takes real financial planning… and you make small sacrifices (like buying store brands) to stay under budget.  When you have money in your pocket, going to the grocery store is a very different experience. All of a sudden, you can make it rain all over the produce section, spending a small fortune on organic, GMO-free pomegranates.  Over time, negligent spending can take its toll, leaving you with far less left over at the end of the month (and at retirement).  Ways to Manage Lifestyle Creep Lifestyle creep can be a big problem if unchecked. Let’s cover how to avoid it. Stick to a budget  The best thing you can do is stick to a budget. Figure out your monthly cash flow and control where money is distributed on a recurring basis. It may be as simple as limiting the number of times you eat out per month or cutting your streaming services

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