“We’ve been on holidays in Sussex Inlet and my friend called me just before and said to me ‘I think the newsagency you bought your Oz Lotto ticket from sold the $50 million winning entry’,:” she said. … [Read more...] about Powerball Lotto $80 million: Winner purchased ticket in Dromana
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A week before the scheduled budget presentation, let the CAG, a constitutional authority, appoint a three-member committee for a five-week duration with a limited mandate of scrutinising the budget after it is presented to Parliament for its fiscal stance and the integrity of the numbers, and give out a public report. The CAG’s office will provide the secretarial and logistic support to the committee from within its resources. The Finance Ministry, the RBI, the CSO and the Niti Aayog will each depute an officer to serve in the secretariat. The committee will be wound up after submitting its report leaving no scope for any mission creep. … [Read more...] about Do we need a fiscal council?
By Tim Gray David Giroux, manager of the T. Rowe Price Capital Appreciation Fund, said buying $8.7 billion worth of stock in March, when the stock market was plummeting, was like preparing for a colonoscopy. “It’s very unpleasant, but you know it’s the right thing to do.” Giroux’s pandemic shopping spree significantly repositioned his $38.2 billion mutual fund, which invests in stocks, bonds and other securities, moving it to 72% stock from 53%. Giroux bought $5.7 billion in stock for the fund, and about $3 billion for institutional accounts that mirror it. His buying entailed bets on beaten-down companies, including Marriott International. “We were buying it all the way down,” he said. By the time the market bottomed in late March, Marriott’s stock price had dropped 70%. It may not be clear for months or years whether all of Giroux’s moves pay off. But his account of the market’s slide this year provides a glimpse into … [Read more...] about What was it like to buy $8.7 billion worth of stocks in March? A fund manager explains
“It’s more of an advertisement for the town itself,” said Chris Hamilton, the manager of the town’s main grocery store. “It brings a lot of people into town that may not even know about Tenino and want to check this place out that makes its own money. … [Read more...] about US town grows money from trees during pandemic downturn