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Texas woman fraudulently submitted Paycheck Protection Program loan applications for nearly $2M, DOJ says – USA TODAY

Lola Shalewa Barbara Kasali allegedly received more than $1.9 million in PPP loans and transferred the money into four additional bank accounts.

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ASX rises; Westpac forecasts October rate cut to 0.1pc – The Australian Financial Review

Australian shares are trading firmly higher; NAB, Westpac tip RBA cash rate and yield curve target will be cut to 0.1 per cent; UK introduces new lockdown measures; Preliminary retail sales fall 4.2 per cent in August; RBNZ keeps rates on hold.

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Westpac is forecasting the Reserve Bank of Australia will cut the cash rate to 10 basis points when it meets in October.
The bank is also tipping the RBA will adopt a 10 basis point three year bond target and adjust the rate on any new drawdown on the term funding facility to 10 basis points.
Westpac chief economist said deputy governor Guy Debelle’s speech on Tuesday gave a fairly clear hint the board would cut the cash rate and other key policy rates when it next meets on October 6.
Westpa…

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Tesla boss Elon Musk wants Tesla to be the ‘best at manufacturing’ – NEWS.com.au

Tesla boss Elon Musk wants Tesla to be the ‘best at manufacturing’

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Tesla boss Elon Musk wants the electric vehicle and battery maker to be the best at manufacturing of any company on Earth in a bid to bring down electric vehicle costs and accelerate the transition to sustainable energy.Elon Musk said that will be the company’s goal and how its eventual success is measured.
“By how many years did we accelerate sustainable energy? That’s the true metric of success,” Mr Musk said, adding: “It matters if sustainable energy happens faster or slower.”
“We’re going …

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Plenti punished on debut – The Australian Financial Review

Shares in the non-bank lender opened down sharply when the largest initial public offering of the year launched, as investors showed caution about unsecured personal lending.

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Meanwhile, about 1000 retail investors that invest over the platform supplying debt funding for the loans were also sitting on steep paper losses on Wednesday after putting in equity to become shareholders. Bell Potter and Wilsons advised on the deal.
Investment bankers will closely monitor the performance of Plenti in the coming weeks given other fintech personal lenders Harmoney and SocietyOne may also consider initial public offerings depending on market conditions in the coming months.
Eve…

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