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<ul class="summary-list"><li>Private lending is now Blackstone's largest business by assets, up 22% since last year.</li><li>COO Jon Gray said it's "very early days" for the burgeoning business.</li></ul>Blackstone made its name buying <a target="_blank" class="" href="https://www.businessinsider.com/blackstone-employee-ownership-program-hvac-company-copeland-kkr-2024-10">undervalued companies</a> and <a target="_blank" class="" href="https://www.businessinsider.com/commercial-real-estate-market-bottom-crash-blackstone-goldman-sachs-2024-3">real estate.</a> But in the third quarter of this year, the company's burgeoning credit arm was the star of the show.In reporting earnings on Thursday, the New York-based buyout firm said its business of cobbling together and investing in loans is now its largest unit by assets. The so-called credit and insurance division boasts assets under management of $354.7 billion, up 22% over last year. By contrast, Blackstone's private-equity business manages $344.7 billion, and its real-estate investing arm, the firm's largest business at the start of the quarter, has $325.1 billion."Today, we manage the largest third-party private credit business in the world," Blackstone's President and Chief Operating Officer, <a target="_blank" class="" href="https://www.businessinsider.com/jon-gray-blackstone-profile-succession-schwarzman-interview-ceo-bumble-oatly-2021-1?r=gray-teaser">Jonathan Gray</a>, said in a call to discuss the firm's financial results. "We have one of the largest, if not the largest, businesses in direct lending, CLOs, real estate debt, and private investment-grade credit," Gray added.Blackstone's private-credit coronation comes as the alternative investments industry increasingly turns toward a growing <a target="_blank" href="https://www.businessinsider.com/private-credit-lenders-middle-market-deals-2023-11">opportunity in non-bank lending</a>. A combination of high interest rates and a <a target="_blank" class="" href="https://www.businessinsider.com/interest-rates-bank-failures-commercial-real-estate-us-economy-outlook-2024-5">banking crisis</a> that has considerably slowed bank lending has increased demand for <a target="_blank" class="" href="https://www.businessinsider.com/jamie-dimon-private-credit-market-risks-retail-investors-debt-investing-2024-5">non-bank loans</a>. Since these lenders often charge higher interest rates, institutional investors are also clamoring to provide capital for these loans to juice fixed-income returns.Blackstone has been tapping into investor demand for private loans in recent months, including what Gray described as a "dramatic increase in demand for all forms of investment grade private credit."Both Gray and Blackstone founder and CEO Steve Schwarzman, meanwhile, seem to think Blackstone's private-credit boom is just getting started."We are building a third-party performing credit juggernaut, and we expect our business to grow significantly from here," Gray said.<h2 id="8b520868-07a0-4e48-a432-8f3b351a93f6">The largest third-party lender</h2>While Blackstone now claims to be the largest third-party credit provider, Apollo is the <a target="_blank" href="https://www.businessinsider.com/apollo-global-management-investor-day-presentation-one-trillion-private-lending-2024-10">largest non-bank lender</a> with $562 billion in private credit assets under management. Apollo has relied on Athene, an insurance company it owns, to lend, while <a target="_blank" class="" href="https://www.businessinsider.com/blackstone-private-credit-investment-strategy-2022-10">Blackstone has focused on investing others' money</a>, forming strategic partnerships with four insurance companies, including Resolution Life, and financial advisory relationships with another 20.Gray expects the insurance industry to continue writing checks to private credit investors, especially in direct lending, a $25 trillion opportunity that's still in "very early days."Gray said that Blackstone's focus on partnering with investors, instead of competing with them by having its own insurance company, will help the business grow."We're not in the market <a target="_blank" class="" href="https://www.businessinsider.com/marc-rowan-profile-ceo-apollo-global-management-leon-black-2021-8">selling annuities</a>," Gray said. "We are a third-party investment manager, and that definitely helps the conversations and helps our momentum here."Gray said the firm sees more pension funds and sovereign wealth clients moving into the space as well."I think over time it's going to move beyond insurance," he said." We're having good dialogue with pension clients. I think we'll see sovereign wealth funds start to do this as well.".Blackstone's private credit arm has generated 16.7% in returns over the last twelve months, though falling interest rates "put some pressure on absolute returns," Gray said. He expects investors to continue to flock to the strategy so long as it can produce returns at a premium to traditional fixed-income investments.<h2 id="c6df9c62-15a3-4bb8-8fe8-7ddacc78d287">"Broad-based acceleration"</h2>Blackstone on Thursday reported distributable earnings, or cash that pays dividends, of $1.3 billion, up 6% over last year — and beating expectations. Total assets under management climbed 10% from last year to $1.1 trillion. The firm's stock price approached its all-time high of $172 a share in midday trading amid what Steve Schwarzman described as a "broad-based acceleration across our businesses."The firm has been making a record number of investments over the last few months, especially in commercial real estate. Blackstone executives <a target="_blank" href="https://www.businessinsider.com/inside-blackstones-real-estate-buying-spree-as-valuations-plummet-2024-5">called a CRE bottom</a> earlier this year, and the company has deployed more than $24 billion into real estate debt and equity over the last twelve months.It's also been investing <a target="_blank" class="" href="https://www.businessinsider.com/blackstone-steve-schwarzman-on-ai-infrastructure-investment-goals-2024-7">big in AI infrastructure</a>, particularly data centers, which will power the artificial intelligence revolution. In September, the firm announced said it would acquire AirTrunk, the largest data center platform in the Asia-Pacific region, in a $16 billion deal alongside the Canada Pension Plan Investment Board.With $70 billion worth of data centers, and over $100 billion of prospective development, Schwarzman said the firm has become "<a target="_blank" class="" href="https://www.businessinsider.com/blackstones-data-center-bets-have-climbed-10-fold-to-100-billion-2024-4">the largest data center provider in the world</a>" in only three years.Opportunities to cash out of investments to drive returns for investors continue to remain sluggish, however. On Thursday, both Schwarzman and Gray said there are plenty of signs that dealmaking is bouncing back, spurred by expectations for lower rates.Gray said the firm's private-equity nondisclosure agreements were up 2.5 times in September compared with the same time last year, suggesting an increase in discussions about potential deals.Gray also predicted <a target="_blank" class="" href="https://www.businessinsider.com/exclusive-omada-health-confidentially-filed-s1-ipo-public-2024-10">growing demand for IPOs</a>, which could help the firm sell some assets and generate returns for its LPs and fees for shareholders and employees.Gray described a meeting he went to this week where the IPO discussion had gone from "theoretical to the practical." Gray said the discussion is now along the lines of, "What's the right size? Should we do it in February or April?"

Inside Blackstone's growing 'credit juggernaut'

The music world is in shock by the tragic death of <keyword id="21128622" type="General" weightage="100" keywordseo="Liam-Payne" source="keywords">Liam Payne</keyword>, former <keyword id="21621780" type="General" weightage="20" keywordseo="One-Direction" source="keywords" meta.keywordsubtype="org" meta.entityname="One Direction" meta.hostid="261" meta.entityid="One Direction">One Direction</keyword> member, at the age of 31. Payne, known for his time in the globally successful boyband, died after falling from a <keyword id="20874213" type="General" weightage="20" keywordseo="hotel-balcony" source="keywords">hotel balcony</keyword> in <keyword id="20332748" type="General" weightage="20" keywordseo="Buenos-Aires" source="keywords">Buenos Aires</keyword>, Argentina, reports said. Local authorities have launched an investigation into the circumstances of his fall, leaving fans and the entertainment community in disbelief. <h2>Hollywood pays tribute </h2> Many of Payne’s colleagues and friends have taken to social media to express their grief. Singer <keyword id="20206407" type="General" weightage="20" keywordseo="Charlie-Puth" source="keywords">Charlie Puth</keyword>, who collaborated with Payne, shared his grief on Instagram, recalling how kind Payne had always been to him. Puth, visibly shaken, posted a heartfelt message along with a clip of them sharing a light moment. "I am in shock right now. Liam was always so kind to me. He was one of the first major artists I got to work with. I can not believe he is gone...," Puth wrote in his first Instagram Story. He then shared a video of the two laughing with each other, and added the text "I'm so upset right now, may he rest in peace." Music producer Zedd, known for working with Payne on the track “Get Low,” expressed his disbelief, calling the news “absolutely heartbreaking.” Rapper Juicy J and Paris Hilton also paid tribute, with Hilton sending love and condolences to Payne’s family and friends. Fellow artists like Ty Dolla $ign, who had spoken with Payne just days before his passing, and Max George of The Wanted, who credited Payne for his support during tough times, shared their grief at the loss of such a bright star. Max George, lead singer of the band 'The Wanted,' wrote on X, "Devastated. Liam was an unbelievably supportive during one of the most difficult times in my life. I will never forget that. My thoughts are with his family, friends and fans at this horrendous time. Rest in peace Liam." <h2>Investigation underway </h2> Payne’s death occurred in the Palermo district of Buenos Aires as per reports. Local police are currently investigating the incident, though details remain scarce. The tragedy has sent shockwaves not only through Payne’s close circle of friends but also across the world, as fans remember the singer who became an international sensation with One Direction. As tributes continue to pour in from fans and fellow musicians alike, the world mourns the loss of a voice and personality that touched millions.

Former One Direction singer Liam Payne dies after falling from hotel balcony, Hollywood pays tribute

Over the past few months, there’s been a lot of brouhaha about the lagging pace of bank deposits in India. Simply put, the rate at which Indians are depositing their hard-earned money in banks has been falling constantly, and some blame the increasing financialization of household savings in the country, or the rising preference of Indians towards mutual funds and shares. So, the hypothesis is that people are choosing to invest more in mutual funds and the Indian equity markets through direct investments, IPOs, or NFOs, the money flowing into Indian banks in the form of deposits is slowing down. But is that really the case? <h2>A crisis or a phase?</h2><keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> data suggested that for the quarter ended June 2024, bank deposits grew at 11.7%. On the other hand, credit growth has outpaced this at 15%. This means that the outflow from banks as loans is far greater than the inflow into them in the form of deposits in Q1 of FY 2024-25. The situation largely saw cut-copy-paste in the first week of September as well, with loans registering a 13.3% YoY growth during the period, while deposits rose only 11.1%. This gap has only been widening for the last 3 years. Since deposits are how banks gather assets to further lend and earn interest income as a consequence, even a slight dip could set the alarm bells ringing for banks, and rightfully so. And truth be told, mutual funds are indeed taking on bank deposits in a big way. Per a report by <keyword id="20250971" type="General" weightage="20" keywordseo="franklin-templeton" source="keywords">Franklin Templeton</keyword>, in August 2024, the AUM (assets under management) of Indian mutual funds, or the total funds managed by them, stood at 31.3% of total bank deposits in the country, up from 24.20% during the year-ago period. As of August 2024, the AUM of mutual funds stood at Rs 66.17 lakh crore, an all-time high. But all said and done, is this really the reason why the rate of bank deposits is falling behind? SBI has dismissed this to be a “statistical myth”, and experts point out that since equity and fund houses also keep the cash in their respective bank accounts, there’s no cause for concern. So, is financialization really to be blamed for the trailing tempo of deposits? Or is something else happening behind the scenes? We take a closer look: <h2>First, are <keyword id="4000333" type="General" weightage="100" keywordseo="household-deposits" source="Orion">household deposits</keyword> really slowing down? And is that a cause of concern?</h2>Data from Motilal Oswal suggests the contrary. Deposits grew by around 10.4% between March 2020 and August 2024. Data from RBI also highlights that as of August 9, 2024, bank deposits witnessed a YoY growth of 10.8%. The loan-to-deposit ratio for the retail segment, which indicates what percentage of its total deposits the banks lend out as loans, has stayed at 77.5%, above the 77% mark for the tenth straight month. Also, we can’t forego the fact that the share of Indian <keyword id="20319599" type="General" weightage="20" keywordseo="households" source="keywords">households</keyword> in bank deposits has indeed slowed down. However, data from Axis AMC shows that the dip is marginal—from 63% in 2022 to 62% in 2023 and 61% in 2024. What has slowed down even more considerably is the share of government deposits in the aggregate bank deposits, which has dipped from 14% in 2018 to 9% in 2024. So, it's not just household deposits, you see. Moreover, as of March 2024, the collective CASA ratio (current and savings account deposits) of all commercial banks in India stood at 41.00%, down from 43.1% in March 2023 and 45.2% in March 2022, marking a nearly 5% point decline over the past year, while still staying over the 10-year average of 39.2%. This implies that Indian banks are relying more on higher-cost funds (savings accounts), which can limit their profitability. <h2>What is this financialisation of savings we are talking about?</h2>Then again, there is no doubt about the growing affinity of Indians towards mutual funds and stock markets. Recent data from CBDT (<keyword id="19942037" type="General" weightage="20" keywordseo="central-board-of-direct-taxes" source="keywords">Central Board of Direct Taxes</keyword>) highlights that India’s net direct tax collection surged by around 22%, driven exclusively by the significant uptick in the collection of <keyword id="20930760" type="General" weightage="20" keywordseo="securities-transaction-tax" source="keywords">Securities Transaction Tax</keyword> (STT), which doubled to Rs 26,154 crore, from Rs 13,352 crore in the year-ago period. Why does this matter? STT is levied when you buy or sell equity shares on stock exchanges, sell equity mutual funds, and trade in futures and options in the equity segment. Such taxes, including the multiple other taxes in equity market investments, are considered as leakages as the money moves out of the economy into government coffers. Data from a ValueQuest report explains that over the last 20 years, the markets have handsomely rewarded the investors, generating over $900 billion in incremental value for them. This is the major driver behind the dramatic rise in investment flowing towards the equity markets. There’s further proof of this budding romance, if you check the demat pudding. The number of demat accounts, which are a primary requisite for participating in the stock markets, also burgeoned by 42.3 lakh in August 2024, taking India’s total tally of demat accounts beyond 17 crore. To put this in perspective, this is almost equivalent to the population of just 8 nations in the world, including China, the US, Brazil and more. Vivek Iyer, Partner, Grant Thornton Bharat thinks it's rather important, as well. “Financialisation of household savings in India is an indication of deepening capital markets in the market, especially from a retail investor standpoint. Bank deposits with a modest rate of return are no longer the only option for savings for investors. Investors today have more avenues for wealth creation in the form of public capital markets, which have democratized wealth creation and provided equality of opportunity to retail investors”, he says. Yes, Indians are investing more and more in the markets, and in mutual funds. But is it a sin to look out for inflation-beating returns, which the stock markets offer, and vanilla bank deposits don't? After all, the allure of 12-13% annual returns offered by equities can certainly pale the stability offered by good old deposits, which generally do not go beyond 9% when it comes to annual returns. But all of this is not what is behind the slowdown. India is still a toddler in the school of savings financialization, with less than 10% of the population holding a demat account, and less than 5% of us saving in equities. That's a drop in the ocean of deposits, far inadequate to trigger a tsunami. <h2>Tell me why lagging deposits have nothing to do with Indians investing more in mutual funds!</h2>Says Shweta Rajani, Head - Mutual Funds, Anand Rathi Wealth Limited, “Households' equity holdings composition grew from 11.1% in FY 23 to 14.7% in FY 24. This trend reflects a growing awareness of investment options, empowering individuals to take control of their financial futures. Despite this transition towards equities, banks still hold a significant share of household financial savings—33.5% in FY24 compared to 34.9% in FY23”. Also, household savings and their subsequent financialization do not have much to do with deposit creation, which is entirely made by banks. What actually drives increased deposits is credit growth or increased lending. When interest rates are eased, people tend to borrow more and spend more, which circulates more money in the economy. For the past 4 years, RBI has been tightening the screws on interest rates, which raises the cost of borrowings, and makes it more expensive to take loans, putting a dampener on credit growth, but effectively curbing inflationary pressures. The last time RBI cut the repo rate by 40 basis points was back in May 2020, 4 years ago. The lag in deposit growth we’re witnessing is almost 3 years old. Coincidence much, or just good old economics at work? But with the <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> recently setting a rate cut precedent by slashing 50 bps off its interest rate, RBI is expected to follow suit in the next <keyword id="19918491" type="General" weightage="20" keywordseo="mpc" source="keywords">MPC</keyword> (Monetary Policy Committee) meeting, scheduled for November 2024. A rate cut would ease the aforementioned high cost of borrowing, and increase loan-taking for corporates and institutional investors, thereby stoking consumption in the economy. And then, deposit creation in banks is likely to return to its former glory. If not, then that would be a curious case to unravel! But that worry is for another day.

A Deposit Dilemma — What's the fuss about a crisis in Indian bank deposits? Are mutual fund investments to blame?

The <keyword id="20771894" type="General" weightage="20" keywordseo="Deposit-Insurance-and-Credit-Guarantee-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Deposit Insurance and Credit Guarantee Corporation" meta.hostid="261" meta.entityid="Deposit Insurance and Credit Guarantee Corporation">Deposit Insurance and Credit Guarantee Corporation</keyword> (<keyword id="20481418" type="General" weightage="100" keywordseo="DICGC" source="keywords">DICGC</keyword>) has launched an online tool <keyword id="23086289" type="General" weightage="20" keywordseo="Daava-Soochak" source="keywords">Daava Soochak</keyword> for <keyword id="20560967" type="General" weightage="20" keywordseo="depositors" source="keywords">depositors</keyword> to track their claim status. The DICGC's mandate since its inception has been the reimbursement of insured amounts to depositors of failed banks. Daava Soochak, a user-friendly online tool, is part of DICGC's ongoing commitment to improving the services provided for depositors. "Depositors can now track the status of their claims by entering their mobile number (registered with their bank) on the DICGC website," said DICGC, a wholly-owned subsidiary of the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>). To begin with, depositors can view the status of their claims for banks placed under All Inclusive Directions (AID) post-April 01, 2024. The corporation ensures that all categories of deposits with banks except institutional deposits. The <keyword id="20132734" type="General" weightage="20" keywordseo="deposit-insurance" source="keywords">deposit insurance</keyword> coverage limit has been enhanced six times since 1962, from Rs 1,500 per depositor held in the same right and same capacity at all the branches of the insured bank to Rs 5,00,000 on February 04, 2020. At present, 97.8% of the total deposit accounts are fully protected. Of the remaining 2.2 % of accounts, deposits are insured up to the limit of Rs 5 lakh. In terms of value, 43.1 % of the deposits were insured as of March 2024. In the case of liquidated banks and banks under the Reserve Bank's All-Inclusive Directions (AIDs), the DICGC settled claims amounting to Rs 1,432 crore during 2023-24. During the year, it received repayments of Rs 900.73 crore, of which Rs 760.83 crore was from liquidated/transferee banks and Rs 139.90 crore from banks under AID. All banks operating in India are registered with the corporation for deposit insurance. The number of banks registered with DICGC was 1,997 as of March 31, 2024, of which 140 were commercial banks and 1,857 were cooperative banks. The total premium received by the corporation during 2023-24 stood at Rs 23,879 crore, with commercial banks contributing 94.4% and cooperative banks accounting for the remaining 5.6 %.

DICGC introduces Daava Soochak for depositors to track claim status

<ul class="summary-list"><li>Liam Payne, the singer who was part of One Direction, died Wednesday at the age of 31.</li><li>One Direction was one of the most successful pop acts of the 2010s, before they went on hiatus.</li></ul>The death of <a target="_blank" href="https://www.businessinsider.com/one-direction-liam-payne-dead-buenos-aires-2024-10">Liam Payne</a>, once part of One Direction, was a dark and abrupt turn for a person in a boyband that reinvigorated the pop music industry.On Wednesday, multiple outlets reported that Payne died in a fall from a hotel balcony in Buenos Aires, Argentina. He was 31.Payne spent his adult life in the spotlight after he, <a target="_blank" href="https://www.businessinsider.com/one-direction-then-and-now-what-theyre-doing-2019-3">Harry Styles, Louis Tomlinson, Niall Horan, and Zayn Malik</a> became One Direction in 2010 as part of the UK talent show "The X Factor."They didn't win. But <a target="_blank" href="https://www.businessinsider.com/simon-cowell-x-factor-one-direction-bankruptcy-career-music-industry-2024-6">Simon Cowell</a>, one of the show's judges, signed them to his label. They became international stars, filling a gap in the market for a new type of boyband.They were one of the first acts to harness the power of then-burgeoning social media platforms, cultivating a loyal, vocal, and lucrative online fandom.Stephen Graham, a senior music lecturer at Goldsmiths, University of London, told Business Insider that there was a market in the 2010s for "young, attractive, gentle male pop artists.""What gave them longevity was the particular personal charm of the members, and the band and their team's canny positioning of their music somewhere between the bubblegum pop of previous boybands and loose notions of indie credibility and authenticity," he said.Releasing an album a year from 2011 to 2015, One Direction became the first act to have all of their first four albums top the Billboard 200 chart. They sold over 70 million records worldwide, and wracked up more than 21 billion streams.<div type="image" title="one direction" height="1987" width="3000" msid="114320863" hostid="261" sizebytes="495400"></div>In 2015, <a target="_blank" href="https://www.businessinsider.com/cool-things-you-didnt-know-about-one-direction-fun-facts">One Direction</a>'s members were the highest-paid entertainers under 30 <a target="_blank" href="https://www.forbes.com/sites/maddieberg/2015/12/16/the-worlds-highest-paid-celebrities-under-30-in-2015/">Forbes</a> reported, earning a combined $130 million.Taylor Swift, with $80 million that year, earned more per person but was still second fiddle.Savan Kotecha, a producer who worked on One Direction's first single, "What Makes You Beautiful," told <a target="_blank" href="https://www.rollingstone.com/music/music-news/one-direction-10th-anniversary-collaborators-1032313/">Rolling Stone</a> in 2020 about how the band engaged with fans.He said the band used social media to build hype and form a thriving fan community in the US before their first single was released there."They instinctively had this — and it might just be a generational thing — they just knew how to speak to their fans," Kotecha said.Pop critic Alexis Petridis wrote in the <a target="_blank" href="https://www.theguardian.com/music/2024/oct/17/after-one-direction-liam-payne-was-just-getting-started-his-death-is-a-heartbreaking-end">Guardian</a> on Thursday that the band's rocky sound helped them stand out from previous boy bands who released ballads, R&amp;B, and songs tinged with hip-hop.<h2 id="555edd76-eb54-4cb2-886e-c2d85186d3a1">Payne was a core member of One Direction</h2><div type="image" title="Liam Payne wearing a suit and tie in front of a pink background." height="2982" width="3976" msid="114320860" hostid="261" sizebytes="538512"></div>Payne came to be regarded as the sensible one in the band. He had songwriting credits on some of their biggest hits, including "<a target="_blank" href="https://www.businessinsider.com/one-direction-music-videos-ranked-worst-to-best-2020-7">Story of My Life</a>" and "Night Changes."Cowell told<a target="_blank" href="https://www.rollingstone.com/feature/one-direction-x-factor-1033795/"> Rolling Stone</a> in 2012 that he recognized Payne's talent when he auditioned for "The X Factor" and thought he would work in the band."I always knew that with confidence he would be a valuable member of this band, so I had no hesitation in bringing him back," Cowell said.One Direction announced an<a target="_blank" href="https://www.businessinsider.com/everything-one-direction-has-said-about-each-other-since-breakup-2019-5#in-2015-malik-said-he-wouldnt-listen-to-one-directions-music-3"> indefinite hiatus</a> in 2016 following Malik's departure, prompting each member to go solo.<a target="_blank" href="https://www.businessinsider.com/harry-styles-worth-makes-spends-money">Styles</a> has so far been the only member to find global success, though.Payne's first solo single, 2017's "Strip That Down," entered the Billboard 100 top 10, but his 2018 EP "First Time" and his 2019 album "<a target="_blank" href="https://www.businessinsider.com/one-direction-solo-albums-ranked-harry-niall-zayn-louis-liam">LP1</a>" didn't match it.He was open about dealing with <a target="_blank" href="https://www.businessinsider.com/liam-payne-suicidal-thoughts-addiction-one-direction-2021-6">alcohol and drug addiction</a>, which he said began at the height of One Direction's success. In May 2023, Payne said in an interview with the boxing YouTube channel iFL TV that he was 100 days <a target="_blank" href="https://www.businessinsider.com/liam-payne-one-direction-podcast-backlash-rehab-sober-2023-7">sober</a> and making a second album."I definitely want to tour this time. This is unusual because I wasn't sure I was going to tour for a long time. I was kind of over it a little bit but I'm really excited to get back out on the road and go and see all the fans," he said.But in August 2023, Payne announced in a since-deleted Instagram post that he was cancelling his first solo tour, saying he had been admitted to a hospital with a kidney infection.In March 2024, Payne's comeback single "Teardrops" generated little buzz, and his second album remains without a release date.Fans may now never know if it could have been the project to revive Payne's music career.

Liam Payne changed the music industry in One Direction — solo success was harder

In a post-budget interaction with industry stakeholders today, <keyword id="20419783" type="General" weightage="20" keywordseo="revenue-secretary" source="keywords">Revenue Secretary</keyword> Sanjay Malhotra highlighted that the government aims to comprehensively review the <keyword id="19985623" type="General" weightage="20" keywordseo="Direct-Tax-Code" source="keywords">Direct Tax Code</keyword> within the next 6 months, and it is too early to say whether or not that would entail any significant overhauls. However, "we would like to have a collaborative approach for its implementation, and would certainly present the draft for public opinion” Malhotra added. Buybacks taxed as dividend Starting October 1, 2024, the amount received by the shareholder on buyback of his/her shares by the company will be treated as dividend income, and will be taxable at the hands of shareholders. Also, the cost incurred by the investor to acquire those shares will not be allowed as a deduction against the income, but can be set off as a capital loss, only against other <keyword id="20619608" type="General" weightage="20" keywordseo="capital-gains" source="keywords">capital gains</keyword>, for a maximum of 8 subsequent years Malhotra explained the government's rationale behind this proviso, noting that buyback does not fundamentally alter the company's capital structure, and like dividend distribution, is a way for the company to give out its surplus. Moreover, it is up to the investor, whether or not they want to participate in a buyback or not. Hence, going ahead, funds from buyback will be deemed as dividend income. Credit on TCS paid Previously, in case your employer has already deducted TCS (tax collected at source) from your monthly salary, it would not be accounted for, or considered while calculating your annual tax liability. As a result, it had to be claimed back separately as a refund, resulting in duplication of processes. However, effective April 1, 2025, salaried employees will be able to adjust the TCS they've already, previously paid while calculating their tax due. The Old tax regime heading towards a sunset? While the officials have given no clarity on this, they noted that the idea of taxation is not to push people into investing, saving or buying insurance for the sole purpose of saving taxes as the old regime did. "It is a moral debate on whether tax regimes are supposed to push people towards financial planning measures like buying health or life insurances. However, as we go ahead, the focus will entirely on greater, more deep-rooted focus on how tax filing and compliance can be simplified and transformed into a hassle-free, smooth process. The new tax regime was finding increased grounding amongst both investors and corporates. For the previous assessment year, 2/3rd of total taxpayers had opted for the new tax regime, while 58% of corporate tax flows had come via them. Loss of indexation benefit only psychological Raman Chopra, Joint Secretary, CBDT, <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> noted that scrapping away indexation benefits is only psychological, and tax payers will not have to bear any real losses as such. "Indexation was a complicated process. Think of this as the cost of simplification of the tax process. Now, we only have two holding periods across all asset classes, making it easier. While indexation benefits continues for properties purchased before 2001, investors continue to receive rollover benefits in case they find that their tax incidence under the reduced tax rates is high.

Comprehensive review of the IT Act imminent in 6 months, notes revenue secretary

Worried about your <a target="_blank" href="https://www.businessinsider.com/personal-finance/credit-score/what-is-a-credit-score">credit score</a>? Maybe you weren't before, but now that I mention it you may be wondering when the last time you checked it was. Even if you're pretty sure it's fine, the topic is often enough to <a target="_blank" href="https://www.businessinsider.com/financial-therapist-talk-about-anxiety-money-2023-3">cause a moment of panic</a>, a sinking feeling followed by an "Oh God, what if something's happened?"That little three-digit number is a big deal in our financial lives. It serves as a sort of grade for how you handle money. An A gets you approval for an apartment and a decent rate on your car loan; an F gets your rental application turned down and makes your car insurance more expensive. You might not have even realized it, but your credit report <a target="_blank" href="https://www.businessinsider.com/why-cleaning-up-your-credit-can-help-you-land-a-job-2013-9">could even make a difference in whether you land your next job</a>.The anxiety around credit scores is palpable. It's also lucrative. Credit bureaus, startups, and even one-man operations can make a lot of money by playing into people's fears about their credit. They offer services that monitor credit scores and alert you when yours changes, or they say they can help you repair your damaged credit — for a price, of course. Many of these costly solutions do not work as well as promised or deliver much, if any, bang for your buck."The credit-scoring companies have figured out how to profit on the anxiety of consumers with credit watch and credit monitoring and all of these add-on programs," said Aaron Klein, a senior fellow in economic studies at the Brookings Institution, a nonpartisan think tank. "When companies find a way to profit off of anxiety, they have an incentive to create anxiety."What these companies won't tell you is that the best things to help ease your credit-related worries are cheap, even free. You can check your credit regularly at no cost from a lot of sources — your credit-card company likely tells you your score, and you can access your report weekly free of charge too. Freezing your credit also doesn't run you anything. It's important to be aware of your credit score, but you don't need to obsess over it — or let marketers convince you to pay for a bunch of stuff you don't really need because you're panicked.Around the time of the Super Bowl, I noticed that the Kansas City Chiefs tight end Travis Kelce was appearing in ads for Experian, one of the big three bureaus responsible for keeping track of everyone's credit scores. I <a target="_blank" href="https://www.businessinsider.com/travis-kelce-experian-tv-commercials-nfl-taylor-swift-super-bowl-2024-2">decided to write about it</a> and, in the process, created an Experian account. The company has been hounding me ever since. I get near-daily emails that range from run-of-the-mill product offers and "credit alerts" to nerve-racking warnings that my information may have been part of a data breach. When I click for more information, lo and behold, I'm confronted with a paid service. For $25 a month, I can sign up for "Experian CreditWorks Premium," which includes quarterly credit reports, credit monitoring, and identity protection. Once I decline that offer, which is kind of tricky, I can also find an offer to "lock" my credit for $5 a month. It's similar to a credit freeze, which blocks creditors from accessing your credit file, but can also do things like notify you if someone tries to access your Experian credit report. Here's the thing, though: A lot of the services it's offering are already free."There's no reason ever to pay for credit monitoring," said Chi Chi Wu, a senior attorney at the National Consumer Law Center. "There's no reason to pay for a credit score or pay for service for the credit score."In Wu's view, Experian is an especially bad offender — not just for its suite of likely unnecessary products but because, as part of its standard agreement, the company makes customers agree to mandatory arbitration, meaning you don't get to sue if Experian has a big screwup later. In an email, a spokesperson for Experian said that the company is "committed to financial inclusion" and that its free membership has tools to help consumers improve their financial health. "Millions of members find value in having Experian as their financial co-pilot helping them improve, manage, and protect their financial profile," the spokesperson said. They did not address the arbitration agreement. But Experian is hardly the only company out there selling credit-related services that drain consumer dollars. The credit-monitoring and identity-theft-protection industry, according to IBISWorld, is worth about $5.4 billion in annual revenue. The growth of the industry makes sense — in this day and age, data breaches are constant, and a fraudulent ding on your credit report or someone opening an account in your name can be an enormous headache. Guarding against that outcome seems like a small price to pay for a lot of people, except that paying any price above $0 may not actually be worth it.A <a target="_blank" href="https://www.nclc.org/wp-content/uploads/2022/09/IB_Credit_Monitoring_Arbitration.pdf">2022 brief</a> from the NCLC described credit-monitoring bundles as often "expensive and ineffective" and argued that they failed to meaningfully benefit consumers. It noted that most identity theft takes place in existing accounts, meaning monitoring services that alert consumers to newly opened accounts miss it. They also often fail to catch fraud related to medical services or tax refunds. And even when they do catch identity theft, they do so after the fact."Some people might be like, 'Well, I'd rather pay and not deal with the time,'" Wu said. "But the thing is those products aren't all that effective."A <a target="_blank" href="https://www.gao.gov/assets/gao-17-254.pdf">2017 report from the Government Accountability Office</a> was pretty negative on the whole monitoring and identity-theft-protection business, too, saying it's just not clear how helpful a lot of this stuff is. The report also looked at identity-theft insurance and noted that while it covered expenses related to dealing with the theft, it generally excluded actual financial losses. While credit monitoring falls into the waste-of-money category, other credit-related services can cross over into potentially predatory territory — for example, credit-repair operations. The idea behind these services is pretty simple: Credit reports often include some mistakes that can ding people's scores. So, for a fee, the companies will dispute a bunch of items in hopes of boosting the score. This may improve people's reports temporarily while the disputes are being investigated, but since the firms are basically disputing anything negative, when they lose, everything goes back to how it was, and the customer is just out more money."They're basically charging people with the false promise that they're going to be able to fix their credit reports and credit scores permanently when they can't," said Sarah Chenven, the CEO of Working Credit, a nonprofit that helps people build credit.Credit-repair companies often target people with lower incomes and people desperate to improve their credit reports and scores. Gen Zers and millennials, who <a target="_blank" href="https://www.creditkarma.com/insights/i/state-of-debt-and-credit-report#average-credit-scores">tend to have lower credit scores</a> than older generations and may not have extensive credit files, may be more likely to find themselves looking at a credit-repair service to get negative items off their reports or at some sort of credit-building service to just help them develop a record. Credit-monitoring companies can really appeal to anyone worried about their credit and identity theft. Some of these businesses also make money by marketing various financial products to people — a well-off boomer might get one type of credit-card offer, a struggling student another.The companies also don't do anything people can't do on their own — if there's an error, you can and should dispute it yourself. In fact, credit-repair agencies can be less effective than the average person at getting mistakes wiped from their credit histories because, as Andrew Pizor, a senior attorney at the NCLC, explained, the law says that credit-reporting agencies have to respond only to dispute letters directly from consumers. Credit-repair businesses try really hard to make it seem like disputes are from consumers, and the agencies try just as hard to sniff out whether that's going on."Most of the letters that you're paying for are going into the garbage," Pizor said. He added that if your dispute letters are going unanswered, you don't need a repair service — you need a lawyer.Federal regulators have gone after several companies accused of playing it fast and loose with the way they approach consumers. In 2017, the Consumer Financial Protection Bureau settled with TransUnion over charges related to how it was marketing its products, including credit monitoring, and ordered it to stop deceptive practices. In 2022, it sued TransUnion, accusing it of violating that order. In 2005, it dinged Experian for marketing free credit reports that weren't so free. Last year, the CFPB entered into a $2.7 billion settlement with a ring of credit-repair brands accused of illegally collecting fees for their services. Over a decade ago, the Federal Trade Commission and 35 states reached a $12 million settlement with LifeLock after alleging that it had made false claims about its identity-theft-protection services.These companies and credit-related services aren't necessarily evil. A significant part of the issue is that the ecosystem is a mess. Our credit-reporting and -scoring system is outdated and confusing, and so are a lot of the businesses that have sprung from it. Even the seemingly good products and services out there are a sign of the deep rot at the core of the whole system. Credit-building loans, which are loans designed to help people without much credit history build some, <a target="_blank" href="https://www.consumerfinance.gov/data-research/research-reports/targeting-credit-builder-loans/">can help people get on better financial footing</a>, even if there is usually some cost involved. Immigrants and young people in particular can benefit.Companies such as Credit Karma that let you access a lot of your information easily and for free make it so your credit score isn't such a mystery. The downside there is that they make their money by giving your information to a bunch of third-party financial products and taking a cut if you sign up for one of them. For consumers, the whole thing feels like a maze. It's tough to separate the good actors from the bad and to understand the trade-offs at hand. It's not always clear what you're signing up for, whether you need it, or what you're going to wind up paying."The credit system and the financial system, and I hate to sound a little preachy, but it's a black box," said Ryan Steckler, a vice president of product and general manager at Credit Karma. "Given that situation, we're in the business of empowering our consumers by giving them access to the same data those financial institutions have."It would be neat to be able to say that some concrete help is on the way, but the truth is we're stuck with some not-so-fun realities around credit scores for the foreseeable future. As screwed up as the system is, it's probably not going anywhere anytime soon, <a target="_blank" href="https://www.investopedia.com/terms/c/cash-flow-underwriting.asp">even though there are better alternatives out there</a>.There is this sense of existential dread around credit scores. A negative one can really drag people down. An impaired record makes loans more expensive, makes accessing certain financial products impossible, and may even put your next apartment or job out of reach. Klein, from the Brookings Institution, has recently been conducting focus groups with low-income consumers about their financial knowledge and concerns. He's been shocked at how much credit scores have come up."I was very surprised at the attention to detail folks of more modest income have on the impact of financial products and choices on their credit scores," he said. "The more I thought about it, the more I realized this focus is based on experience. At some point, their low credit score has negatively impacted their lives."Frederick Wherry, a Princeton sociologist who leads the Debt Collection Lab, an initiative focused on understanding debt collection, added: "As soon as we are asked about our credit scores, or in a moment when we can't get something we need or we get it at too high a price, that's when we realize that this thing has been hanging over our heads." It's unwise to bury your head in the sand, ignore your credit score, and hope for the best. But you don't need to obsess over it, let alone spend a bunch of money on it. If you're not in the market for a house or apartment or in need of a new loan, you can freeze your credit for free, meaning no fraudsters can take out a loan in your name. Under federal law, the bureaus have to give you one free credit report a year, and since the pandemic they've been letting people access their reports for free once a week. If you see something weird on your report, you can dispute it on your own. And you really do not need to be checking that much — once a month or once a quarter is fine, kind of like your 401(k)."If you have a credit score over 720 or 780, stop worrying. Don't be obsessed with getting an 800 or 820," Wu said. "This is not your SAT score."If you're in trouble, there are nonprofits out there that can help you figure out what to do, for little or no money."If you've got bad credit, if your credit score is low, where I'd start is with a nonprofit credit counselor," Pizor said.If you want to sign up for identity-theft protection or credit monitoring, fine. But those services aren't a fail-safe, so you'll want to walk in with your eyes wide open. The credit experts I spoke with were very wary about credit repair across the board. The next time you start to worry about your credit score, take a beat. Not to get too woo-woo here, but really, there's only so much you can control."I mean, the magic bullet is building a better system," Wu said.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

The best way to fix your credit score? Ignore it.

<keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">Startups</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> have high expectations from this year's upcoming <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword>. Early-age startups hope for the removal of angel taxes, while <keyword id="20677283" type="General" weightage="20" keywordseo="health-tech-startups" source="keywords">health tech startups</keyword> expect increased <keyword id="19913964" type="General" weightage="20" keywordseo="funding" source="keywords">funding</keyword> for the sector. Startups function as engines of economic growth, playing a crucial role in generating new jobs, ideas, products, and services. As of December 2023, the Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups. These startups have reportedly created over 12.42 lakh direct jobs, significantly impacting the economy. Eklavya Gupta, CEO and Co-founder of Recur Club, stated, "We are confident that India's business credit landscape is on the brink of a major digital overhaul. FinTechs are at the forefront of this change, deploying innovative technologies and utilising in-depth data analytics to streamline and expand <keyword id="20974354" type="General" weightage="20" keywordseo="credit-access" source="keywords">credit access</keyword>." He added, "While the current allocation of Rs 10,000 crore is an excellent initial step, realising the full capabilities of India's SME and startup ecosystem will necessitate greater investment, especially in credit guarantee schemes." Vinod K Singh, Co-Founder and CTO of Concirrus, expressed his expectations from the budget: "As the Union Budget 2024-25 approaches, we hope the government will address the pressing issue of the 'angel tax.' Eliminating this tax will enhance capital formation and attract vital <keyword id="19895633" type="General" weightage="20" keywordseo="investments" source="keywords">investments</keyword>. Streamlining the duty structure and reducing high tariffs on electronic inputs are also crucial to bolstering the startup ecosystem and driving innovation. Expanding the Fund of Funds and introducing low-interest loans would be beneficial." Rajiv Lamba, co-founder and CEO of AI-enabled customer feedback platform Surveysensum, added, "Just as the government has prioritised financial inclusion, it should now focus on <keyword id="22405441" type="General" weightage="20" keywordseo="technological-inclusion" source="keywords">technological inclusion</keyword> to propel India to the next stage of growth. By training youth in AI, the government can make a strategic investment in the nation's technological future. Given the rapidly evolving job market, a substantial increase of 20 to 25 percent in budget allocation should be considered for AI-based skill development and entrepreneurship." He further emphasised, "Incentivizing investment in <keyword id="20328842" type="General" weightage="20" keywordseo="AI-startups" source="keywords">AI startups</keyword> and R&amp;D initiatives can boost local innovation in the AI space. The last budget introduced a deep tech fund of Rs 1 lakh crore with a 50-year interest-free loan period; the government should now establish a clear and transparent mechanism for access to this fund." Raja S, founder and MD of Hearzap, highlighted the expectations of health tech startups: "Health tech startups are eagerly anticipating increased funding that could usher in transformative advancements. This crucial investment holds the promise of extending cutting-edge healthcare solutions to rural and underserved areas, effectively bridging existing gaps in care. The upcoming budget ensures that every individual in our diverse population, from the youngest to the oldest, can access essential health services, including specialised care." Discussing taxation for startups in India, Vvihan Gulati, Director of Mediagraphics PR, commented, "Removing the angel tax is a highly anticipated move that would benefit early-stage startups and their investors. It would foster a more favourable environment for innovation and growth, allowing startups to attract much-needed capital without the burden of excessive taxation. This change could significantly enhance the ease of doing business and contribute to the overall growth of the startup ecosystem in India." The Union Budget 2024 will be tabled on July 23 by Union Finance Minister Nirmala Sitharaman. With this, she will become the first Finance Minister to deliver seven consecutive budgets, surpassing Morarji Desai. She presented the interim budget on February 1 of this year.

Startups demand angel tax elimination, incentives on investments in upcoming budget

<ul class="summary-list"><li>Subsidies that help 19 million people pay for health insurance in ACA marketplaces could expire.</li><li>KFF found that the enhanced subsidies saved the average enrollee roughly $700 annually.</li></ul>Vice President Kamala Harris and former President Donald Trump have offered conflicting <a target="_blank" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">visions</a> for how they'd shape the economy if they won office, but one policy has received little attention: the <a target="_blank" class="" href="https://www.businessinsider.com/biden-expanding-obamacare-without-congress-health-coverage-2022-4">Affordable Care Act</a>.According to a <a target="_blank" class="" href="https://www.kff.org/affordable-care-act/issue-brief/inflation-reduction-act-health-insurance-subsidies-what-is-their-impact-and-what-would-happen-if-they-expire/#:~:text=As%20a%20candidate%20in%202020,the%20ACA%20Marketplaces%20have%20existed.">report</a> published on July 26 by KFF, a nonprofit health policy group, a key component of the Affordable Care Act introduced during the pandemic is set to expire in 2025, and millions of Americans could see price hikes in their <a target="_blank" class="" href="https://www.businessinsider.com/how-get-medical-bills-reduced-negotiate-challenge-payment-plan-2024-9">healthcare premium payments</a> as a result.When buying healthcare coverage through the ACA marketplace, people can qualify for premium tax credits, which aim to make health insurance payments more affordable. In 2021, the <a target="_blank" class="" href="https://www.businessinsider.com/biden-to-sign-19-trillion-american-rescue-plan-on-thursday-2021-3">American Rescue Plan Act</a> introduced subsidies that expanded eligibility for premium tax credits to enrollees with incomes 400% above the <a target="_blank" class="" href="https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines">federal poverty line</a> — which is $60,240 for one individual and $124,800 for a family of four. In 2022, the <a target="_blank" class="" href="https://www.businessinsider.com/house-passes-inflation-reduction-act-sending-it-to-biden-2022-8">Inflation Reduction Act</a> extended those subsidies through 2025.According to KFF, these enhanced subsidies or premium tax credits caused a surge in enrollment in the ACA marketplace. Since 2021, <a target="_blank" class="" href="https://www.kff.org/affordable-care-act/state-indicator/marketplace-enrollment/?currentTimeframe=0&amp;sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D">enrollment</a> in the ACA marketplace has increased roughly 79%, to 21.4 million from about 12 million.Additionally, of the 21.4 million enrolled in the ACA marketplace since 2021, 92% qualify for the premium tax credits, according to KFF.If those enhanced subsidies expire next year, roughly 19 million Americans will face double-digit or triple-digit increases in their premium payments, Cynthia Cox, a vice president at KFF, told Business Insider. KFF also found that the enhanced subsidies cut consumers' costs by about 44%, saving the average enrollee $700 annually if they remain intact.For example, KFF found that a 45-year-old earning $25,000 annually could see their annual premium payment for a benchmark silver plan — which is a standard low-cost healthcare plan — increase from $160 with the enhanced premium tax credits to $1,077 without the subsidies.On September 25, Sen. Jeanne Shaheen and Sen. Tammy Baldwin <a target="_blank" class="" href="https://www.shaheen.senate.gov/shaheen-baldwin-introduce-legislation-to-make-affordable-care-act-premium-tax-credits-permanent-lowering-costs-for-millions-of-americans">introduced</a> the Healthcare Affordability Act — a bill that would make permanent the enhanced subsidies extended by the Inflation Reduction Act. Rep. Lauren Underwood <a target="_blank" class="" href="https://underwood.house.gov/media/press-releases/underwood-and-shaheen-introduce-legislation-permanently-lower-health-care">introduced</a> an identical bill in the House.The bills would have to pass both the House and Senate and then be signed into law by the president to come into effect. However, it's <a target="_blank" class="" href="https://www.washingtonpost.com/health/2024/09/25/aca-health-plan-subsidies/">unclear when a decision</a> on the tax credits will be reached.<h2 id="710b8e9b-579e-4347-a6f8-612949a5af72">Federal subsidies drove enrollment in the ACA marketplace</h2>Cox said that low-income individuals have driven the ACA enrollment surge. Since 2020, there has been a 115% increase in low-income individuals — with incomes up to 2.5 times the federal poverty line — enrolled in the ACA Marketplace."We've seen really substantial growth in the number of people signing up for ACA coverage since these subsidies became available," Cox said.Additionally, enrollment has been driven by Black and Latino people, helping decrease disparities in health insurance, according to Claire Heyison, a senior policy analyst at the Center on Budget and Policy Priorities. According to <a target="_blank" class="" href="https://www.cbpp.org/research/health/health-insurance-costs-will-rise-steeply-if-premium-tax-credit-improvements-expire">CBPP</a>, people of color made up the majority of ACA marketplace enrollees in 2023 for the first time.Cox said that the enhanced subsidies make it so people earning just above the poverty level pay "next to nothing" for their monthly premium. Before the enhanced subsidies were enacted, an enrollee earning just above the poverty level would have to pay about 2% to 3% of their income for a benchmark silver plan, Cox said."That might not sound like a lot, but for someone who's making just above poverty, they really don't have a lot of discretionary income to spend," Cox said. "Then it becomes a question of what sacrifices would they make to be able to afford the coverage."If the enhanced subsidies expire, many of those low-income enrollees will be priced out of coverage, Cox said. What's more, households with incomes just above 400% of the federal poverty line will become ineligible for the premium tax credits.Additionally, 52% of enhanced subsidies from the Inflation Reduction Act have been directed toward enrollees in the South, according to KFF. Florida has received 22% of funding, while Texas has received 16%, and Georgia and North Carolina 7%, each, according to KFF.<h2 id="0fdefe70-b4db-441b-8d2a-e89a87ec6a25">The election could shape the future of enhanced premium tax credits</h2>The November election could determine the future of the enhanced subsidies.If Trump wins, Cox said it's all but sure the enhanced subsidies will expire.If Harris wins and Democrats win the House and Senate, Cox said the enhanced subsidies will likely be extended.Yet, Cox said it's important to recognize that Congress might end up with a split House and Senate, meaning it'd be difficult to pass a bill."There's a pretty significant chance that there's going to be a divided power in Washington, and then it's really anyone's guess what happens to these subsidies, but it would probably be an uphill battle to renew them," Cox said.Republican lawmakers who want the subsidies to expire cite the extensive cost. The Congressional Budget Office <a target="_blank" class="" href="https://www.cbo.gov/system/files/2024-06/60437-Arrington-Smith-Letter.pdf">estimates</a> that the premium tax credits will cost taxpayers $335 billion over the next 10 years.Additionally, the Congressional Budget Office estimates that 3.8 million people could become uninsured if the enhanced subsidies expire, according to <a target="_blank" class="" href="https://www.reuters.com/business/finance/rate-us-uninsured-rise-89-next-decade-congressional-budget-office-says-2024-06-18/#:~:text=Enhanced%20subsidies%20for%20plans%20introduced,the%20expiration%20of%20marketplace%20subsidies.">Reuters</a>."That would be followed by subsequent years of more people dropping coverage," Cox said.Cox said many Americans aren't grasping what's at stake for healthcare in the 2024 election. She said that's largely due to how complicated healthcare policy can seem."People may not fully appreciate how integral these enhanced subsidies are now," Cox said. "If they went away, the original Affordable Care Act subsidies would still be in place, but these enhanced subsidies had such a tremendous impact on the ACA marketplaces that I think if they're allowed to expire, these would be the biggest increases in premium payments that this market has ever seen."Are you enrolled in the Affordable Care Act marketplace? Do you qualify for enhanced premium tax credits Please reach out at <a target="_blank" class="" href="mailto:jtowfighi@businessinsider.com">jtowfighi@businessinsider.com</a>.

Millions of Americans could lose out on more than $700 in healthcare benefits if Congress doesn't keep these tax credits

Are you an avid credit card user? Are you up to speed with all the changes that have come into effect starting today, which is all set to impact your credit card usage, and your pocket. Here's a quick snapshot of all the changes that you should be well aware of: <h2><keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> </h2>Starting today, ICICI bank has done away with fees for many services, which include request for a charge slip, which was earlier chargeable at Rs 100/slip and cash and cheque pick up, which also carried a fee of Rs 100 earlier. Earlier, for outstation cheque processing and duplicate bank statement (for three months), a fee of Rs 100 was payable. Now, all those charges have been waived. However, going ahead, you'll have to dish out Rs 200 instead of Rs 100, if you wish to get your credit card replaced. <h2><keyword id="19952948" type="General" weightage="20" keywordseo="Axis-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Axis Bank" meta.hostid="261" meta.entityid="Axis Bank">Axis Bank</keyword></h2>If you hold a <keyword id="19941660" type="General" weightage="20" keywordseo="Citibank" source="keywords" meta.keywordsubtype="org" meta.entityname="Citibank" meta.hostid="261" meta.entityid="Citibank">Citibank</keyword> credit card, this is for you. The migration of all Citibank <keyword id="19953671" type="General" weightage="100" keywordseo="credit-cards" source="keywords">credit cards</keyword> to Axis bank will be complete by 15th July, 2024. Post that, you will receive new credit cards from Axis bank .However, until then, your existing Citibank cards will continue to work just fine. All your unredeemed points will be converted into EDGE miles. After migration, they will have an expiration period of 3 years. Starting today, RBIs new rules mandate that all credit card transactions in the country be processed through <keyword id="20779381" type="General" weightage="20" keywordseo="Bharat-Bill-Payment-System" source="keywords">Bharat Bill Payment System</keyword> (BBPS). This means that if your bank has not come on board with BBPS, you will not be able to make payment through their credit card on other third-party platforms. Out of 34 banks that can issue credit cards, 12 banks have come onboard the BBPS. These include SBI, <keyword id="19938728" type="General" weightage="20" keywordseo="kotak-mahindra" source="keywords">Kotak Mahindra</keyword>, IndusInd, Federal, HDFC, ICICI and IDFC bank. Indian Overseas bank and <keyword id="45660" type="General" weightage="20" keywordseo="yes-bank" source="Orion">YES Bank</keyword> are expected to go live soon. <h2>SBI Bank</h2>Starting July 15th, if you hold one of the 22 specified SBI credit cards, you will no longer accrue any reward points while making certain transactions, particularly if they are related to government services. These include Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Etihad Guest SBI Card, Fabindia SBI Card SELECT, IRCTC SBI Card, Mumbai Metro SBI Card and more. <h2>YES Bank </h2>If you hold a YES Bank credit card, the criteria for you to qualify for complimentary lounge access has changed. Starting today, you will have to spend at least Rs 35,000 from your credit card in the previous quarter, in order to be able to get a complimentary access to domestic airport lounges in the next quarter. Earlier, this threshold was set at Rs 10,000. This will impact YES Marquee, YES SELECT, YES Reserv, YES First Preferred, YES Bank ELITE, YES BYOC, and YES Wellness Plus cards. <h2>HDFC Bank</h2>Starting August 1st, if you make rent, or education related payments via platforms like Cred and Paytm, you will have to pay a fee of upto 1% of the transaction, which will be a maximum of Rs 3,000. However, if you make the payment directly through your school or college's website, you will be able to save on this charge. Similarly, on all fuel expenses of over Rs 15,000, a 1% fee will be applied, which can be a maximum of Rs 3,000.

What has changed for your credit cards, starting today?

<ul class="summary-list"><li>Kate Siegel is known for her roles in Netflix's hit series "The Haunting of Hill House" and "The Fall of the House of Usher."</li><li>She often collaborates with her husband, horror auteur Mike Flanagan, who wrote and directed both.</li></ul>If you're any kind of horror fan, you know Kate Siegel.She's starred in some of Netflix's biggest hits of the genre, from 2018's <a target="_blank" class="" href="https://www.businessinsider.com/netflixs-haunting-of-hill-house-surging-in-popularity-with-viewers-2018-10">"The Haunting of Hill House" </a>to the critically acclaimed 2021 series "Midnight Mass" and last year's wildly fun, Poe-inspired <a target="_blank" class="" href="https://www.businessinsider.com/fall-of-the-house-of-usher-netflix-details-poe-references-easter-eggs-2023-10">"The Fall of the House of Usher."</a>For Siegel, who made her acting debut in a 2007 direct-to-video horror movie called "The Curse of the Black Dahlia," where she played a marketing executive being haunted, an affinity for the genre came naturally. She's always had a vivid imagination, which she credits as a key component of her acting."I had a skill at imagining the most insane thing crawling toward me and being able to react to it organically," Siegel told Business Insider."I could picture my true love burning to death in front of me on a rowboat and react organically to that," she joked, referring to her character's most memorable scene in "Midnight Mass," a Netflix series about a town that experiences odd occurrences after a priest's arrival.Despite her impressive horror pedigree, it wasn't a no-brainer for Siegel to take on her first directing gig. In fact, it was initially a "no, thank you" when the team behind "V/H/S" and its horror anthology films sought her out.<h2 id="3253e557-8b42-4024-8815-3ab25db82658">Siegel turned down the chance to direct when the offer first came her way.</h2><div type="image" title="Kate Siegel directing Alanah Pearce, the star of her &quot;V/H/S/Beyond&quot; segment &quot;Stowaway&quot;" height="2000" width="3000" msid="114291858" hostid="261" sizebytes="226260"></div>Siegel was already a longtime fan of the "V/H/S" franchise when she was approached to direct a segment for the latest installment, "V/H/S/Beyond," now streaming on <a target="_blank" href="https://affiliate.insider.com?h=355ee9bd10d5f81b8021884515745f73098bad5e6e17005172de3ca919788241&amp;postID=670d80ba0c43543ec7b9a85e&amp;postSlug=kate-siegel-directorial-debut-vhs-beyond-mike-flanagan-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.shudder.com%2F">Shudder</a>.The franchise, which started with a 2012 film and has since spawned seven movies, is unique in its format. They're anthologies comprised of multiple short films, each directed by a different filmmaker. "Beyond" takes the franchise beyond horror, entering the sci-fi realm.The "V/H/S" franchise is credited with helping to launch the careers of prominent directors like Ti West (who later wrote and directed the acclaimed <a target="_blank" class="" href="https://www.businessinsider.com/brittany-snow-nude-scenes-x-movie-ti-west-horror-interview-2022-3">"X" trilogy</a>), Adam Wingard (who'd go on to direct two "Godzilla v. Kong" blockbusters), and Radio Silence (the team behind hits like "Ready or Not," "Abigail," and the <a target="_blank" class="" href="https://www.businessinsider.com/scream-7-jenna-ortega-melissa-barrera-controversy-explained-2023-11">rebooted "Scream" franchise</a>).Siegel particularly admired how the franchise allows individual directors to flex their creativity, providing the right combination of freedom and structure. All that said, she still didn't feel like doing it."I am tired. I have young kids, and it feels like a lot of work," Siegel recalled of her initial reaction to the offer.She asked her manager to gratefully pass because she didn't feel she was ready. They didn't take no for an answer, however, and with some extra encouragement from her manager and her husband, Siegel agreed to take the leap.She credits Josh Goldbloom, the producer responsible for rebooting the "V/H/S" franchise in 2021 after a seven-year hiatus, with changing her mind. "He changed my path as an artist," she said.It was particularly important to Siegel that the "V/H/S" team was open to her ideas."I had thought about writing it myself. I had thought about doing a Muppet version of something. I had thought about doing a musical version of something," Siegel said.In the end, though, Siegel realized that, though she'd written before, her tendency to bite off more than she could chew might prove to be too much when making her directorial debut. So, she enlisted help from her favorite creative partner: her husband.<h2 id="597f4c1b-2331-4670-9104-f9ca2ae58f22">For their latest team-up, Siegel took the reins while Flanagan provided support.</h2><div type="image" title="Mike Flanagan and Kate Siegel of 'The Life of Chuck' pose together" height="3654" width="4872" msid="114291854" hostid="261" sizebytes="738972"></div>Siegel's husband, the horror auteur <a target="_blank" class="" href="https://www.businessinsider.com/mike-flanagan-netflix-shows-ranked">Mike Flanagan</a>, is best known for his smash-hit Netflix shows, including those aforementioned that launched Siegel's own scream-queen status.The five series that Flanagan has helmed — "Midnight Mass," "The Haunting of Bly Manor," "The Haunting of Hill House," "The Fall of the House of Usher," and "The Midnight Club" — have collectively netted millions of viewing hours for the streamer and cultivated a passionate fan base for both Siegel and Flanagan. (Flanagan and his Intrepid Pictures producing partner Trevor Macy have since <a target="_blank" class="" href="https://deadline.com/2022/12/mike-flanagan-amp-trevor-macy-overall-deal-with-amazon-studios-1235186302/">left Netflix for a new deal at Amazon Studios</a>. The value of the deal was undisclosed.)Collaboration comes naturally for Siegel and Flanagan. According to the actor, the couple are already collaborating their way through life."The act of storytelling and story creation goes hand in hand with, 'Did we feed the kids dinner?' or 'Who's going to do songs and back scratches tonight?' versus 'Do you think this character would behave this way?' or 'Will you read my first 10 pages?'" Siegel said.The two initially talked about the kind of story Siegel wanted to tell. Flanagan disappeared for about 20 minutes and returned with a fully fleshed-out treatment for "Stowaway." The body horror-tinged short film, about a woman who leaves behind her child to investigate mysterious, possibly extraterrestrial lights spotted in the Mojave Desert, would become Siegel's segment for "V/H/S/Beyond.""The man's a genius in terms of creating structure," Siegel said of Flanagan. "He also wanted to support and protect me in a way where he could create a script that was accomplishable. He could create something that would really allow me to have the space to shine.""I was very grateful for the boundaries and structure that Mike's experience gave me because I swung for the fences on his script. I can't even imagine what I would've taken on if I had written it as well," she added.Siegel is well aware of the perception a certain segment of the horror fandom has of her, namely, that she gets work because of her husband. "I think everybody has a reason to have imposter syndrome, and the only thing you can do is move past it," Siegel told BI.She's also often called Flanagan's "muse," a less insulting but still slightly eyebrow-raising comment."There are so many ways to call somebody a muse. Is it an insult? Is it a compliment? It says more about the person saying it than the person receiving it," she said.Still, the "V/H/S" team had no expectations that Siegel and Flanagan were a package deal."Josh Goldbloom has said, and I'm grateful for it, that it was always, we want Kate, just Kate," she recalled. "It was never, maybe we can sneak our way to Mike through Kate."Even within the script's structure, Siegel flexed her own artistic muscles with "Stowaway." For instance, it was her idea to film parts of the segment in infrared to make the spaceship feel alien with a limited budget.It was a tough sell."The problem with infrared is that there is no example of it. 'Dune' uses it a little bit, but they add a bunch of post-production to it. 'Nope' used it a little bit, but they added it on top of day for night," she said, referencing the <a target="_blank" class="" href="https://www.businessinsider.com/dune-3-potential-plot-dune-messiah-timothee-chalamet-2023-9">Denis Villeneuve</a> and <a target="_blank" class="" href="https://www.businessinsider.com/nope-jordan-peele-brandon-perea-rewrote-script-laughing-crying-2022-11">Jordan Peele</a> films.Siegel had to convince "a lot of people," including Flanagan, that shooting in infrared was the right move. "A lot of people started that conversation with, 'That sounds terrible, don't do that,'" Siegel said.But she was intent, providing camera tests as proof of concept and even consulting with an ophthalmologist to confirm it was safe to shoot with it on set.One by one, she convinced everybody it was the right move, and the proof was in the final product: a dizzying and utterly horrifying accidental trip to space.<h2 id="fba36e48-9740-4f1e-9d22-6ee9e31e1dad">Siegel plans to keep directing and already has more projects lined up.</h2><div type="image" title="Kate Siegel on set filming &quot;Stowaway,&quot; her &quot;V/H/S/Beyond&quot; segment" height="2000" width="3000" msid="114291849" hostid="261" sizebytes="347700"></div>Now that Siegel has her first directing credit, she's caught the bug. She already has multiple projects lined up. One is in the early stages ("I don't think I'm allowed to talk about it yet, but I've had a very positive reaction to what I've done so far, and I think that that will bear fruit"). The other is a collaboration with another horror icon: <a target="_blank" class="" href="https://www.businessinsider.com/stephen-king-horror-movies-highest-grossing-box-office-2020-9">Stephen King</a>.Siegel has created a series of animated horror shorts — that could work as an entry to the genre for kids — <a target="_blank" class="" href="https://www.youtube.com/watch?v=K6FD23y83OM">called "Dark Corners"</a> to be released later this month. The short Siegel is directing is based on an original story by King. She's also written another of the shorts herself."I'm thrilled to be working with Stephen King in that capacity. He's a hero of mine, and so to get to direct his words is a real coma-dream moment," she said.Siegel's husband is known particularly for many of his adaptations. "Hill House" is loosely based on the 1959 Shirley Jackson novel of the same name, and he's directed three separate King adaptations. As for the dream IP, she'd love to get her hands on, Siegel had an immediate answer."I have a very interesting take on 'The Yellow Wallpaper' that I've always wanted to do," Siegel said, referring to the seminal 1892 short story by Charlotte Perkins Gilman, credited as one of the most important works in early <a target="_blank" class="" href="https://www.businessinsider.com/black-female-authors-you-need-to-read">feminist literature</a>. So, would it be a <a target="_blank" class="" href="https://www.businessinsider.com/best-horror-movies-of-all-time-psychological-thrillers-slashers">horror movie</a>? Siegel said not exactly, but she's envisioning a feature-length film "starting from that place of isolation" that delves into "birth and the fourth trimester.""I think it's a feminist thriller, which is a weird genre that immediately makes most executives go 'Delete!'" Siegel said. "But it's what I like to make."

Scream queen Kate Siegel has starred in some of Netflix's biggest horror hits. Now, she's tackling her scariest endeavor yet: directing.

<ul class="summary-list"><li>"Deadpool &amp; Wolverine" includes one end-credits scene.</li><li>The scene doesn't tease Wade Wilson/Deadpool's return in a future MCU project.</li></ul>Warning: Major spoilers ahead for "Deadpool &amp; Wolverine.""<a target="_blank" class="" href="https://www.businessinsider.com/deadpool-3-ryan-reynolds-details-information-2023-7">Deadpool &amp; Wolverine</a>" is finally in theaters, and you're going to want to stick around until the very end.The third installment of the "Deadpool" franchise, directed by Shawn Levy, pairs up <a target="_blank" class="" href="https://www.businessinsider.com/ryan-reynolds-deadpool-wolverine-paid-worth-over-billion-2024-7">Ryan Reynolds</a>' Wade Wilson/Deadpool and <a target="_blank" class="" href="https://www.businessinsider.com/ryan-reynolds-hugh-jackman-wolverine-deadpool-3-2022-9">Hugh Jackman</a>'s Logan/Wolverine for an epic adventure filled with meta jokes, exciting cameos, and R-rated action sequences.After the movie ends, fans are treated to archival footage from past Marvel films before an end credits scene. Here's what you need to know.<h2 id="920e774b-1f46-4281-8091-c43ac8e0eeab">The credits roll alongside behind-the-scenes footage from the 'X-Men' movies and other past Marvel films</h2><div type="image" title="Hugh Jackman as Wolverine in &quot;X-Men.&quot;" height="1188" width="2872" msid="112026375" hostid="261" sizebytes="49378"></div>Jackman has played Wolverine since the 2000 ensemble movie "<a target="_blank" class="" href="https://www.businessinsider.com/hugh-jackman-x-men-wolverine-shirtless-scenes-delayed-not-ripped-enough-2022-10">X-Men</a>." He reprised the role for additional "X-Men" sequels and the stand-alone Wolverine franchise. Although the character sacrificed himself in the 2017 movie "Logan," Jackman returns as a Wolverine variant in "Deadpool &amp; Wolverine."Meanwhile, Reynolds made his debut as Wade Wilson in "X-Men Origins: Wolverine" in 2009. Years later, he overhauled the character and gave the Merc with a Mouth new life in a wildly successful "Deadpool" franchise.The footage shown to the right of the credits pays homage to their lengthy Marvel careers, to the tune of Green Day's "Good Riddance (Time of Your Life)."The montage includes footage of Jackman on the set of the "X-Men" movies with Patrick Stewart (Charles Xavier/Professor X), Halle Berry (Storm), and his other costars. It also features footage of Chris Evans on the set of the original "Fantastic Four" films and snippets of scenes from the "Fantastic Four" reboot, "X-Men: Apocalypse," "X-Men: Dark Phoenix," and other Marvel movies.It concludes with the 20th Century Fox logo, in yet another meta jab at the 2019 <a target="_blank" class="" href="https://www.businessinsider.com/how-disney-fox-merger-affects-consumers-hulu-marvel-streaming-2019-3">Disney/Fox merger</a>.<h2 id="cfcdf0ab-2884-4402-8a89-33f9e1301982">The end-credits scene gives Chris Evans even more screen time as Johnny Storm</h2><div type="image" title="Chris Evans as Johnny Storm/Human Torch in &quot;Fantastic Four.&quot;" height="1218" width="1624" msid="112026367" hostid="261" sizebytes="61836"></div>In "Deadpool &amp; Wolverine," <a target="_blank" class="" href="https://www.businessinsider.com/chris-evans-anthony-mackie-sebastian-stan-ghosted-cameos-interview-2023-4">Chris Evans</a> reprises his role as the lovable-yet-cocky Johnny Storm/Human Torch. Although the actor is primarily associated with his part as Steve Rogers/Captain America in the MCU, he previously played Johnny in "<a target="_blank" class="" href="https://www.businessinsider.com/fantastic-four-cast-then-now-photos-2023-7">Fantastic Four</a>" (2005) and "Fantastic Four: Rise of the Silver Surfer" (2007).Deadpool and Wolverine encounter Johnny in a wasteland called The Void. Then they're captured and taken to the lair of villain Cassandra Nova (Emma Corrin).While in the convoy together, Johnny explains that <a target="_blank" class="" href="https://www.businessinsider.com/loki-what-is-the-void-explained-who-is-alioth-2021-7">The Void</a> is a metaphysical junkyard where people are sent by the Time Variance Authority (TVA) before being annihilated by an entity known as Alioth. He says that people who end up here are either eaten by Alioth or work for Cassandra.<div type="image" title="Emma Corrin as Cassandra Nova in &quot;Deadpool &amp; Wolverine.&quot;" height="2000" width="3000" msid="112026382" hostid="261" sizebytes="231124"></div>When Deadpool meets Cassandra, he repeats all the rude comments that Johnny made about her in the convoy verbatim. Johnny denies speaking out against Cassandra, but she viciously kills him anyway by ripping the skin from his body telepathically leaving behind his skeleton and a puddle of blood.Marvel end-credits scenes often <a target="_blank" class="" href="https://www.businessinsider.com/guardians-of-the-galaxy-vol-3-end-credits-explained-2023-5">tease what's to come</a> in future projects. Other times, they're <a target="_blank" class="" href="https://www.businessinsider.com/deadpool-end-credits-explained-2016-2">tongue-in-cheek</a> scenes that are inconsequential.The "Deadpool &amp; Wolverine" end-credits scene milks Evans' cameo for everything it's worth by elaborating on the moment that led to Johnny's brutal death.In the scene, Wade stands inside the TVA room alone and breaks the fourth wall, telling the audience that he's tired of the rumors that he got Johnny killed. To prove that he wasn't lying about everything Johnny said, Deadpool plays back footage from the convoy on one of the TVA's retro TVs. The footage clearly shows Johnny going on a crude, expletive-filled rant about why he despises Cassandra.It's unclear where in the MCU Deadpool will show up next, but he's clearly satisfied with the way this film ends."Gotcha, fuckface," Deadpool says before walking away.

'Deadpool & Wolverine' has one end-credits scene — here's what happens

When David Duchovny first started playing the extraterrestrial-investigating <a target="_blank" class="" href="https://www.businessinsider.com/x-files-cast-then-and-now-fox-2017-12">FBI Agent Fox Mulder in "The X-Files"</a> in the early 1990s, he wasn't as green as an alien from outer space. But despite having smaller roles in projects like "Don't Tell Mom The Babysitter's Dead," "Twin Peaks," and "The Rapture" under his belt, he still felt like he was learning on the job."Some actors can really do it from the beginning, and some actors are learners," Duchovny tells Business Insider. "I'm more of a learner."Though audiences were charmed by Mulder's aloof determination on the hit Fox series, Duchovny looks back at the show's early seasons and sees an actor sometimes inelegantly coming into his own."I was afforded the opportunity to teach myself how to do what I do through those many hours," he explains, "so I can look back at it and say, 'That's kind of a lame performance I'm giving in year one or year two.'""The X-Files" ended up giving Duchovny a crash course in more than just acting. He credits series creator Chris Carter with encouraging him to try his hand at writing and directing his own episodes of the series, an opportunity that led him to fall in love with both crafts.Since then, Duchovny, now 63, has followed various different creative pursuits simultaneously. He's directed stars like the late Robin Williams and Frank Langella in "House of D" and written, directed, and starred in "Reverse the Curse," a film he adapted from one of his five — <a target="_blank" class="" href="https://www.goodreads.com/author/show/8331566.David_Duchovny">yes, five</a> — novels, <a target="_blank" class="" href="https://www.businessinsider.com/david-duchovny-baseball-bucky-fcking-dent-2016-7">"Bucky F*cking Dent."</a> He's also continued to stretch himself as an actor, tackling roles like hedonist writer Hank Moody in "Californication" and Method actor Ryan Glenn in <a target="_blank" class="" href="https://www.businessinsider.com/guides/streaming/how-to-watch-the-sympathizer-hbo-live-stream">HBO's "The Sympathizer."</a> He's even found the time to release three studio albums.Clearly, being "a learner" is keeping him busy.For the latest interview in BI's <a target="_blank" href="https://www.businessinsider.com/category/role-play-series">Role Play series</a>, Duchovny breaks down the shock of filming his first sex scene, playing the straight man in "Zoolander," and why Method acting is misunderstood.<h2>On how 'The X-Files' became his acting school</h2><div type="image" title="the x files mulder scully" height="810" width="1440" msid="111838118" hostid="261" sizebytes="61286"></div>It's been over 30 years since "The X-Files" premiered. If you had the chance to do it all again, what would you do differently?I wouldn't have done anything differently. It played out well. I was fairly green as an actor when I got that job. I was incredibly work-intensive in terms of hours and physical stuff — it really became my acting school.I don't do it often, but if I watch something from the first couple of years, I see an actor that hasn't figured it out yet. But there's a certain kind of willingness in that person that I see on the screen, and I'm just thankful that I had the opportunity.Is there a standout moment from working on the set that comes to mind?Something that Chris Carter said to me. I said by the fifth or sixth season I'd like to try to direct something. And he said, "If you write something and it's good, then you can direct it." So he pushed me to start writing, and I learned a lot just from doing that show the previous five or six years.So really, that was the moment when I started directing and writing and actually started taking control of other aspects of my performative life. That stands out to me.<h2>On directing Robin Williams and playing the straight man in 'Zoolander'</h2><div type="image" title="Robin Williams snuggled up to David Duchovny at the &quot;House of D&quot; premiere." height="790" width="1024" msid="111838112" hostid="261" sizebytes="50980"></div>You directed Robin Williams in the coming-of-age comedy-drama "House of D." What was your creative relationship like?Robin was the reason I could make that movie! It was an independent film and back then — and to a certain extent now — financing is dependent on movie stars to get those little movies off the ground. So when Robin said yes, all of a sudden I had a movie.I had my ex-wife, Téa Leoni, who I think is one of the great actresses of her generation. I had Erykah Badu, one of the great artists of her generation. I had <a target="_blank" class="" href="https://www.businessinsider.com/star-treks-anton-yelchin-dead-at-27-2016-6">Anton Yelchin</a>, who was going to be one of the great actors of his generation, and Frank Langella before he made his comeback. I had an embarrassment of riches at my disposal.None of that would've happened if Robin hadn't said yes.Robin was just a creative powerhouse. He was just full of a life force. The question was, "How do we harness whatever we're trying to do here?" And he was an actor, so he knew how to do that. I was very fond of him personally and professionally.You also worked with Ben Stiller on "Zoolander" in your cameo as the world's greatest hand model. What was it like ad-libbing with Ben Stiller?I give him this <a target="_blank" class="" href="https://www.youtube.com/watch?v=EUvgqItrt1c">long monologue</a> that serves as the backstory to how models have been fucking up the world since time began. And then he says, "But what about models after that?" And I said, "I just told you," or something like that. It's not a great comedic moment or a great ad-lib, but I think it remains in the movie.I remember I wanted to be kind of word-perfect because it was a lot of exposition. I felt like I could be funniest as a straight man. I thought, what if I play this guy like he's Gene Hackman in "Conspiracy Theory"? No winking at all. I'm in a different movie and that'll be funny.<div type="image" title="David Duchovny with glasses and his hand in a glass case in &quot;Zoolander.&quot;" height="618" width="1100" msid="111838113" hostid="261" sizebytes="21228"></div>I mean, it worked. Do people ask you about how to be a hand model?They don't so much ask me about how to be a hand model, but they'll ask me which hand was in a biometric chamber, things like that. That little role has a certain amount of staying power. It's interesting to me because it wasn't a hit when it came out. It became kind of a sleeper hit after its original life.<h2>On shooting his first sex scene and making sure everyone was comfortable in raunchier scenes in 'Californication'</h2><div type="image" title="David Duchovny looking at Natascha McElhone in &quot;Californication.&quot;" height="683" width="1024" msid="111838116" hostid="261" sizebytes="26180"></div>Another fan-favorite project of yours is "Californication," which was pretty raunchy at times. How difficult was it to manage the sexy atmosphere in those scenes? This was before intimacy coordinators were commonplace, after all.It was common decency, which is something I've tried to practice in my life forever. It's basically what intimacy coordinators do now. It's just trying to figure out how everybody's going to be comfortable, what they're comfortable with, what they want to do. And it was kind of a no-brainer to me.The first sex scene I ever did was in "The Rapture," and forget about intimacy coordinators.I had a director on a megaphone across the furniture store on Santa Monica Boulevard saying, "Come!" And we had never spoken about this, and of course, I'm not going to come, but he wanted me to act like I was orgasming.It's very different from what we tried in "Californication." We're making a comedy, we're not making porn. These are actors and these are people and everybody needs to be respected and comfortable.That was always first and foremost in my mind as the lead actor on the set. How's everybody going to be comfortable? How's everybody going to be safe? And how are we going to all be in the same tone of this show? I consider that my job.What are your thoughts on using intimacy coordinators nowadays?I think it's great that there's a way to make actors comfortable. Now, I think it's difficult for directors, because it's another person telling you what's okay to shoot. But it's a time and place that we're in, and it's probably going to do a lot more good than hurt some director's feelings or whatever. It's going to protect people.There was a lot of bad behavior, and that's not just in Hollywood. So there should be intimacy coordinators all over the world, in every profession. That'd be great. The more we can protect people that need protection, the better.<h2>On playing a Method-acting jerk in 'The Sympathizer' and adapting his own book</h2><div type="image" title="David Duchovny wears a camouflage shirt and aviator sunglasses in &quot;The Sympathizer.&quot;" height="1098" width="1904" msid="111838115" hostid="261" sizebytes="50334"></div>This year, you starred in "The Sympathizer" as Ryan Glenn who, respectfully, is an absolute maniac Method actor. Did you try double down for the role and go Method yourself?Well, Method, it's kind of a misnomer, to be honest with you. I mean, I studied the Strasberg Method. That's supposedly a dumb Method. But I think in pop culture, we have this idea now that the Method means that you never break character.That's not something Strasberg ever taught. I don't think it's something anybody ever taught. I really don't think it's something that people do very much — the people who are going to be badly behaved are going to find ways to justify it.So the Strasberg Method is different from a guy who refuses to break character or who does shitty things under the guise of staying in character. The way I looked at that character was just that he cares that deeply about the work, and I could relate to that. I could relate to somebody who thinks that superficial work is being done around him or being applauded around him, and he's going to show up and he's going to do the work from the heart.He's a jerk, but he ends up getting a great performance out of his costar, in a way.Out of all the characters that you've played, who's your favorite?I have to say I'm probably most proud of "<a target="_blank" class="" href="https://www.youtube.com/watch?v=UBosYy-Qz8g">Reverse the Curse</a>" at this point as a work of art or commercial art. I loved playing Marty, the father. It was never something that I had planned on doing. I wrote this story originally as a screenplay 15 years ago, and I was going to play Ted, the son, that Logan Marshall-Green plays.I got close to doing it a few times. I'm happy that it took long enough for me to age out of that part and to have to confront myself playing Marty because it's not a role that I've ever played before. It forced me to do certain things that I haven't been forced to do before. And I really enjoyed that challenge. So today it's Marty.On my deathbed? I don't know… I don't know what it's going to be.This interview has been edited and condensed for clarity.

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