• Technology

    Computers Can’t Cut Red Tape

    This article is part of the On Tech newsletter. You can sign up here to receive it weekdays. As the United States shut down in the spring and tens of millions of people lost their jobs, Arizona modernized its 35-year-old computer system on the fly to get unemployment benefits into people’s hands as fast as possible. This is government technology that is actually helping people. To a point. Arizona has also been a case study of the limits of technology in the teeth of a jobless crisis, government bureaucracy and people trying to game the system. States like Arizona have been plagued by old and underfunded technology systems, but policy…

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  • Business

    International Personal Finance plc (LON:IPF) Analysts Just Cut Their EPS Forecasts Substantially

    One thing we could say about the analysts on International Personal Finance plc (LON:IPF) – they aren’t optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. Both revenue and earnings per share (EPS) estimates were cut sharply as the analysts factored in the latest outlook for the business, concluding that they were too optimistic previously. Following the downgrade, the consensus from three analysts covering International Personal Finance is for revenues of UK£673m in 2020, implying a chunky 16{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} decline in sales compared to the last 12 months. Losses are supposed to balloon 244{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} to UK£0.35 per share. However, before this estimates update, the…

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