Business Investment – Game Towne http://gametowne.com/ Fri, 14 Jan 2022 22:15:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gametowne.com/wp-content/uploads/2021/06/icon-6-150x150.png Business Investment – Game Towne http://gametowne.com/ 32 32 Stellus Capital Investment Corporation Announces First Quarter 2022 Monthly Dividends https://gametowne.com/stellus-capital-investment-corporation-announces-first-quarter-2022-monthly-dividends/ Fri, 14 Jan 2022 21:15:00 +0000 https://gametowne.com/stellus-capital-investment-corporation-announces-first-quarter-2022-monthly-dividends/ HOUSTON, January 14, 2022 /PRNewswire/ — Stellus Capital Investment Corporation (the “Company”) (NYSE: SCM) announced that its Board of Directors has declared a monthly dividend of $0.0933 per share for each of the months of January, February and March, totaling $0.28 per share in total for the first quarter of 2022. The regular dividend of […]]]>

HOUSTON, January 14, 2022 /PRNewswire/ — Stellus Capital Investment Corporation (the “Company”) (NYSE: SCM) announced that its Board of Directors has declared a monthly dividend of $0.0933 per share for each of the months of January, February and March, totaling $0.28 per share in total for the first quarter of 2022. The regular dividend of $0.28 per share in aggregate will be paid in addition to the previously declared aggregate dividend of $0.06 per share for a total of $0.34 per share in aggregate to be paid to shareholders of record in January, February and March.

Summary of regular monthly dividends for the first quarter of 2022

Declared

Ex-dividend date

Registration Date

Payment date

Amount per share

01/13/2022

01/27/2022

01/28/2022

02/15/2022

$0.0933

01/13/2022

02/24/2022

02/25/2022

03/15/2022

$0.0933

01/13/2022

03/30/2022

03/31/2022

04/15/2022

$0.0933

Summary of First Quarter 2022 Additional Monthly Dividends Previously Declared

Declared

Ex-dividend date

Registration Date

Payment date

Amount per share

10/29/21

01/27/2022

01/28/2022

02/15/2022

$0.02

10/29/21

02/24/2022

02/25/2022

03/15/2022

$0.02

10/29/21

03/30/2022

03/31/2022

04/15/2022

$0.02

About Stellus Capital Investment Corporation

The Company is an externally managed, non-diversified closed-end investment management company which has elected to be regulated as a business development company under the Investment Companies Act 1940. The Company’s investment objective is to maximize total return to its shareholders. in the form of current income and capital appreciation by investing primarily in private, middle-market companies (generally those $5.0 million at $50.0 million EBITDA (earnings before interest, tax, depreciation and amortization) through senior, junior, unitranche and mezzanine financings and related equity investments. The Company’s investment activities are managed by its investment adviser, Stellus Capital Management. To learn more about Stellus Capital Investment Corporation, visit www.stelluscapital.com under the “Public Investors” link.

FORWARD-LOOKING STATEMENTS

Statements included herein may contain “forward-looking statements” that relate to future performance or financial condition. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change with time. Actual results may differ materially from those anticipated in the forward-looking statements due to a number of factors, including those described from time to time in the Company’s filings with the Securities and Exchange Commission, including the prospectus. which will be filed with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.

contacts
Stellus Capital Investment Company
W Todd Huskinson, (713) 292-5414
Financial director
[email protected]

SOURCEStellus Capital Investment Corporation

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Natixis Investment Managers to sell its block of shares in Fiera Capital https://gametowne.com/natixis-investment-managers-to-sell-its-block-of-shares-in-fiera-capital/ Thu, 13 Jan 2022 00:38:00 +0000 https://gametowne.com/natixis-investment-managers-to-sell-its-block-of-shares-in-fiera-capital/ MONTREAL & PARIS – (COMMERCIAL THREAD) – Natixis Investment Managers (“Natixis IM”) today announced that Natixis Investment Managers Canada Holdings Ltd (“Natixis Canada Holdings”), a wholly-owned subsidiary of Natixis IM and BPCE SA (“BPCE”), has concluded two separate agreements to sell all of the 10.68 million Class A Subordinate Voting Shares (the “Class A Shares”) […]]]>

MONTREAL & PARIS – (COMMERCIAL THREAD) – Natixis Investment Managers (“Natixis IM”) today announced that Natixis Investment Managers Canada Holdings Ltd (“Natixis Canada Holdings”), a wholly-owned subsidiary of Natixis IM and BPCE SA (“BPCE”), has concluded two separate agreements to sell all of the 10.68 million Class A Subordinate Voting Shares (the “Class A Shares”) that it currently holds in Fiera Capital Corporation (“Fiera Capital”).

Natixis Canada Holdings and Natixis Investment Managers Participations 1 entered into a private agreement with Fiera Capital to repurchase for cancellation 3.56 million Class A Shares for an aggregate repurchase price of $ 34,888,000 (the “Repurchase Transaction”). In addition, Natixis IM will pay Fiera Capital a transaction commission.

Natixis Canada Holdings has also entered into an agreement with RBC Capital Markets under which Natixis Canada Holdings will sell, and RBC Capital Markets will acquire through a prospectus-exempt block take-over transaction 7.12 million Class A Shares for aggregate proceeds of $ 69,776,000 (the “Block To exchange Transaction ”, and together with the Redemption Transaction, the“ Transactions ”). In addition, Natixis IM will pay RBC Capital Markets a commission.

Immediately before the closing of the Transactions, Natixis Canada Holdings holds 10.68 million Class A shares, representing as at January 11, 2022 approximately 12.5% ​​of the outstanding Class A shares and approximately 10.2% of all outstanding shares of Fiera Capital. Upon completion of the Transactions, Natixis Canada Holdings will no longer hold any Fiera Capital shares.

Natixis Canada Holdings has chosen to monetize its holdings in Fiera Capital in order to allow additional flexibility to allocate capital in accordance with its long-term strategic priorities. Although Natixis Canada Holdings no longer owns Fiera Capital shares upon completion of the Transactions, the distribution agreement concluded in May 2019 between Natixis IM and Fiera Capital establishing Fiera Capital as preferred Canadian distributor of Natixis IM for its strategies investment will remain in force, subject to certain amendments. The Investor Rights Agreement between Natixis Canada Holdings and Fiera Capital, the Call Option Agreement between Natixis Canada Holdings and Fiera Capital LP and the Voting / Put Option Agreement between Natixis Canada Holdings and Jean-Guy Desjardins will be terminated .

As of the close of operations and following the termination of the investor rights agreement, Natixis Canada Holdings will no longer have the contractual right to propose candidates to the board of directors of Fiera Capital.

An early warning report relating to these transactions will be filed on SEDAR under Fiera Capital’s profile at www.sedar.com. To obtain a copy of this report, please contact Mr. Eric Ward, Global General Counsel of Natixis Investment Managers, at +1 617-449-2133. BPCE is a French anonimous society whose head office is located at 50 avenue Pierre Mendès-France, 75013 Paris, France. Natixis Canada Holdings, a company incorporated in Quebec, an indirect wholly owned subsidiary of BPCE, is headquartered in the offices of Norton Rose Fulbright Canada LLP at 1, Place Ville Marie, Suite 2500, Montreal, Quebec H3B 1R1. Fiera Capital’s head office is located at 1501 McGill College Avenue, Suite 800, Montreal, Quebec, H3A 3M8.

Forward-looking statements

This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond Natixis IM’s control. Unless required by law, Natixis IM does not undertake to update any forward-looking statements, whether written or oral, which may be made from time to time by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information it contains and may not be appropriate for other purposes.

About Natixis Investment Managers

Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and targeted expertise of more than 20 active managers. Ranked among the world’s largest asset managers1 with nearly $ 1.4 trillion in assets under management2 (€ 1,199.4 billion), Natixis Investment Managers offers a diversified range of solutions covering asset classes, styles and vehicles, in particular innovative strategies and products in terms of the environment, society and governance (ESG) dedicated to the promotion of sustainable finance. The firm works with clients to understand their unique needs and provide investment information and solutions tailored to their long-term goals.

Based in Paris and Boston, Natixis Investment Managers is 100% owned by Natixis. Natixis is a subsidiary of BPCE, the second largest French banking group. Investment management companies affiliated with Natixis Investment Managers include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;3 Dorval asset management; Flexstone Partners; Gateway investment advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles and company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum asset management; Seeyond; Seventure Partners; Thematic asset management; Vauban Infrastructure Partners; Vaughan Nelson’s investment management; and WCM Investment Management. In addition, investment solutions are offered by Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offers are available in all jurisdictions. For more information, please visit the Natixis Investment Managers website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.

Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited-purpose brokerage and distributor of various investment companies registered in the United States for which advisory services are provided by affiliates of Natixis. Investment Managers, Natixis Investment Managers SA (Luxembourg), Natixis Investment Managers International (France) and their affiliated distribution and service entities in Europe and Asia.

1 Cerulli Quantitative Update: Global Markets 2021 ranked Natixis Investment Managers 15th in the world for asset managers based on assets under management as of December 31, 2020.

2 Assets under management (“AUM”) as of September 30, 2021 amounted to $ 1,390 billion. Assets under management, as reported, may include notional assets, assets under management, gross assets, assets of affiliated entities owned by minorities and other types of non-regulatory assets under management managed or managed by companies affiliated with Natixis Investment Managers. Excluding H2O Asset Management.

3 A brand of DNCA Finance.

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How can investors benefit from putting their money in the money? https://gametowne.com/how-can-investors-benefit-from-putting-their-money-in-the-money/ Tue, 11 Jan 2022 03:00:00 +0000 https://gametowne.com/how-can-investors-benefit-from-putting-their-money-in-the-money/ ICICI Prudential Mutual Fund and Nippon India Mutual Fund are tapping into the latent demand for silver investments, with the recent launch of their silver exchange traded funds (ETFs) and funds of funds (FoFs). Other fund companies like DSP, HDFC and Mirae Asset will soon be offering their offerings. So, does an investment in silver […]]]>

ICICI Prudential Mutual Fund and Nippon India Mutual Fund are tapping into the latent demand for silver investments, with the recent launch of their silver exchange traded funds (ETFs) and funds of funds (FoFs). Other fund companies like DSP, HDFC and Mirae Asset will soon be offering their offerings. So, does an investment in silver bode well for the retail investor today? Analysts say yes, pointing to the metal’s weak but positive correlation with stocks. Chirag Mehta, senior fund manager-alternative investments at Quantum Mutual Fund, said Commercial standard that about 70 percent of silver’s use comes from industrial applications. When economic growth is high, increased demand pushes up its price. So while gold has a negative correlation with stocks, silver is more likely to work the other way around. While silver has fallen 12.5% ​​over the past year, experts expect it to start performing again in the coming months. The metal is trading at around Rs 60,000 per kg in major metropolitan cities, but Naveen Mathur, director of commodities and currencies, said Anand Rathi Shares and Stock Brokers Commercial standard that the metal could reach a price of around Rs 67,000 in the coming months.

Over the past decade, gold has definitely outperformed silver in terms of yield. Thus, experts suggest to consider silver investments only as an option in a basket of commodities. For those who plan to invest only in silver, experts suggest having a horizon of more than 10 years. Sanjay Kumar Singh of Business Standard explains more. For those who are considering investing in silver, you might benefit from an industrial recovery. We could allocate 5 to 10% of the pro-cyclical component of its portfolio to it. Long-term investors should take the systematic investment plan (SIP) route to take advantage of the volatility of silver.

Watch the video

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Chinese FM Wang meets Lankan Prime Minister Rajapaksa; discusses investment promotion, tourism https://gametowne.com/chinese-fm-wang-meets-lankan-prime-minister-rajapaksa-discusses-investment-promotion-tourism/ Sun, 09 Jan 2022 09:38:02 +0000 https://gametowne.com/chinese-fm-wang-meets-lankan-prime-minister-rajapaksa-discusses-investment-promotion-tourism/ Chinese Foreign Minister Wang Yi held talks with Sri Lankan Prime Minister Mahinda Rajapaksa on Sunday and discussed many issues, including tourism promotion, investment and the fight against the COVID-19 pandemic as two countries marked the 65th anniversary of bilateral diplomatic relations. . Wang, who is also a state councilor, arrived from the Maldives on […]]]>

Chinese Foreign Minister Wang Yi held talks with Sri Lankan Prime Minister Mahinda Rajapaksa on Sunday and discussed many issues, including tourism promotion, investment and the fight against the COVID-19 pandemic as two countries marked the 65th anniversary of bilateral diplomatic relations. .

Wang, who is also a state councilor, arrived from the Maldives on Saturday for a two-day visit during which he is due to meet with the country’s top leaders.

Prime Minister Mahinda took to Twitter to announce that he had had a “very pleasant meeting” with Wang.

“I had a very pleasant meeting with the Ministry of Foreign Affairs of #China. Discussions focused on logistics to facilitate the return of the many medical students from #lka to China. A multitude of issues were also addressed, including tourism, investments, # COVID19SL relief and post Covid readiness, “he said on Twitter.

Mahinda Rajapaksa also thanked the Chinese government for its continued support to Sri Lanka.

“I thanked #China and its people for the continued support to #lka. As our two countries celebrate 65 years of bilateral relations, I hope this relationship we share will only grow and strengthen over the years. coming soon, ”he said. in another tweet.

Foreign Minister Jayanath Colombage said Foreign Minister Wang will also meet with President Gotabaya Rajapaksa and Foreign Minister GL Peiris during the visit.

His visit marks the 65th anniversary of diplomatic relations between the two nations and the 70th anniversary of the Lanka-China Rubber Rice Pact.

Signed in 1952, the Rubber-Rice Pact was a trade agreement between Lanka and China under which Colombo supplied rubber to Beijing in exchange for rice, leading to the establishment of diplomatic relations and the expansion of trade between the two countries.

The events marking these occasions will take place in the Chinese-built port city in central Colombo, one of several infrastructure development projects supported by China since 2010.

Foreign Minister Colombage said that new Chinese investment opportunities could be sealed by Sri Lanka during the visit of the Foreign Minister.

Relations between the two countries have been strained in recent months.

China protested Sri Lanka’s rejection of a shipment of organic fertilizers that local farmers and some experts said was contaminated.

The Sri Lankan high commercial court has blocked its payment here despite high-level interventions from China. The Chinese blacklisted the Sri Lankan state bank for failing to honor the payment.

Sri Lankan scientists have questioned the quality of the Chinese fertilizer shipment, saying that instead of helping, it could be harmful to crops.

However, on Friday, on the eve of Wang’s visit, the People’s Bank of Sri Lanka released US $ 6.9 million to the Chinese company.

China’s blacklisting of the Sri Lankan bank and the public clash between officials on both sides came amid growing concerns over an acute agricultural crisis in Sri Lanka, following the President Gotabaya’s decision in May of last year to suddenly switch from chemical fertilizers to organic fertilizers.

The move sparked protests from farmers who said the fertilizer ban would lead to reduced harvests, leading to a food crisis this year.

China suspended a project to install hybrid power plants in three Sri Lankan islands in December, citing a “third party” “security concern”, amid concerns over its location.

In early 2021, India lodged a “strong protest” with Lanka over the award of the tender to the Chinese company for the construction of renewable energy power plants in Delft, Nagadeepa and Analthivu.

Wang’s visit comes at a time when Sri Lanka faces its worst currency crisis ever.

By December, the reserve position had collapsed to just one month of imports, or just over $ 1 billion.

However, at the end of the year, the Central Bank announced that the reserve position had improved and that the cash realization likely came from a previously agreed currency swap with China.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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Invenergy announces approximately $ 3 billion investment from Blackstone Infrastructure Partners to accelerate renewable energy development activities https://gametowne.com/invenergy-announces-approximately-3-billion-investment-from-blackstone-infrastructure-partners-to-accelerate-renewable-energy-development-activities/ Fri, 07 Jan 2022 18:00:00 +0000 https://gametowne.com/invenergy-announces-approximately-3-billion-investment-from-blackstone-infrastructure-partners-to-accelerate-renewable-energy-development-activities/ NEW YORK & CHICAGO & MONTREAL – (COMMERCIAL THREAD) – Today, Blackstone Inc. (NYSE: BX) announced that funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de depot et placement du Québec (CDPQ) and Invenergy for an investment in shares of ‘approximately $ 3 billion in Invenergy Renewables Holdings LLC […]]]>

NEW YORK & CHICAGO & MONTREAL – (COMMERCIAL THREAD) – Today, Blackstone Inc. (NYSE: BX) announced that funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de depot et placement du Québec (CDPQ) and Invenergy for an investment in shares of ‘approximately $ 3 billion in Invenergy Renewables Holdings LLC (“Invenergy Renewables” or “the Company”), the largest privately held renewable energy company in North America. Blackstone’s investment will provide capital to accelerate Invenergy’s renewable energy development activities. The CDPQ and the management of Invenergy remain majority owners of the company and Invenergy will remain a management member.

Invenergy Renewables is one of the largest and most respected renewable energy developers, with more than 175 projects totaling nearly 25,000 megawatts developed on four continents, focused on lasting partnerships with utilities, financial institutions and commercial and industrial customers. The production projects developed by the company supply the equivalent of 8.5 million homes. Invenergy has received numerous industry recognitions, including a # 4 global ranking of “Best Power Generators” based on renewable energy capacity by Energy Intelligence New Energy in 2020. Projects developed by the company have made up for it. about 167 million tonnes of carbon dioxide, roughly New York State’s annual emissions. Invenergy Renewables has a strong development and construction pipeline, and its subsidiary Invenergy Transmission solves electricity delivery challenges by advancing some of the most innovative transmission infrastructure projects in the world. The company is building both the largest wind and solar projects in the United States, which together will provide nearly 3 gigawatts (GW) of clean energy by 2023.

Commenting on the transaction, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: “Blackstone is committed to investing in the energy transition and Invenergy is the undisputed independent leader in the renewable energy sector. We look forward to a long-term partnership with the Invenergy and CDPQ teams and are delighted to invest alongside them to support the accelerated development of Invenergy’s clean energy portfolio.

Matthew Runkle, Senior Managing Director, Infrastructure Group at Blackstone, added: “We are proud to have the opportunity to work with Michael Polsky and the world class Invenergy team. Invenergy has built an exceptional platform to deliver clean energy – which is essential for our future – and we are honored to be a part of their mission.

Jim Murphy, President and CEO of Invenergy, said: “The Invenergy team is pleased to welcome Blackstone, a leader in the field of renewable investments, as a partner. We value our long-term relationship with the CDPQ and are excited to continue to accelerate the transition to clean energy with Blackstone’s additional investments and capabilities.

Emmanuel Jaclot, executive vice-president and head of infrastructure at the CDPQ, added: “For nearly a decade, we have been working alongside Invenergy to build a key global player in the energy transition, in the United States and around the world. Michael Polsky, Jim Murphy and their team raise the bar when it comes to developing and operating sustainable energy solutions, making their company a true innovator and leader in its field. We are delighted to welcome our longtime partner Blackstone as a new investor, combining our global reach and resources to help position Invenergy for continued growth.

The investment in Invenergy Renewables is the most recent example of a number of clean energy companies that Blackstone is proud to support. Since 2019, Blackstone has committed nearly $ 13 billion in investments that Blackstone says is consistent with the broader energy transition. Additionally, in 2020 Blackstone announced a plan to reduce carbon emissions by a total of 15% in the first three years of ownership in all new investments where Blackstone has control over energy use.

Lazard and CIBC acted as M&A advisors to Blackstone and Kirkland & Ellis as legal advisors to Blackstone. Mayer Brown was legal counsel to the CDPQ, and Sidley & Austin and White & Case represented the company and Invenergy.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest and the communities in which we operate. To do this, we use amazing people and flexible capital to help businesses solve their problems. Our $ 731 billion in assets under management include investment vehicles focused on private equity, real estate, debt and public stocks, infrastructure, life sciences, growth stocks, credit. opportunistic and substandard, real assets and secondary funds, all on a global scale. More information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Blackstone Infrastructure Partners

Blackstone Infrastructure Partners is an active investor in the energy, transport, digital infrastructure, and water and waste infrastructure sectors. We seek to apply a long-term buy and hold strategy to large-scale infrastructure assets with an emphasis on long-term stable capital appreciation along with a predictable annual cash return. Our approach to infrastructure investing is focused on responsible stewardship and stakeholder engagement to create value for our investors and the communities we serve.

About the Fund

At the Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate long-term sustainable returns. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build businesses that drive performance and progress. We are active in major financial centers, private equity, infrastructure, real estate and private debt. As of June 30, 2021, the Caisse’s net assets totaled CAD 390 billion. For more information, visit cdpq.com, follow us on Twitter or visit our Facebook or LinkedIn pages.

About Invenergy Renewables

We are innovators who are building a sustainable world. Invenergy Renewables and its affiliates develop, own and operate large-scale sustainable energy production and storage facilities in the Americas, Europe and Asia. Invenergy’s head office is located in Chicago and has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland and Scotland. Invenergy has successfully developed over 25,000 megawatts of projects in operation, under construction or under contract, including wind and solar power generation facilities as well as advanced energy transmission and storage projects. For more information, please visit www.invenergy.com.

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AT&T ditched its media assets in 2021. This year it wants to add investors. https://gametowne.com/att-ditched-its-media-assets-in-2021-this-year-it-wants-to-add-investors/ Wed, 05 Jan 2022 22:46:00 +0000 https://gametowne.com/att-ditched-its-media-assets-in-2021-this-year-it-wants-to-add-investors/ AT&T Inc. T 2.22% faces a busy year as she tries to close a divorce from her entertainment company, allay investor worries about its dividend and show that it can continue to win new wireless customers. The Dallas conglomerate devoted much of 2021 to what amounted to bowel remodeling. It has launched a series of […]]]>

AT&T Inc.

T 2.22%

faces a busy year as she tries to close a divorce from her entertainment company, allay investor worries about its dividend and show that it can continue to win new wireless customers.

The Dallas conglomerate devoted much of 2021 to what amounted to bowel remodeling. It has launched a series of large divestitures spanning pay TV, media production and advertising, moves to refocus AT&T on more predictable growth opportunities from profit centers such as wireless and broadband.

Wall Street analysts broadly welcomed the changes. The share price did not reflect a similar buy-in from investors.

AT&T shares fell 14% in 2021 and briefly touched 12-year lows in December before recovering. The massive sell-off left its dividend yield – a ratio of how much cash a company pays to its shareholders divided by its share price – above 8% at year-end. The S&P 500 gained 27% in 2021.

President and CEO John Stankey called June a “difficult year that has been filled with anxiety.” In December, he said he hoped that within a year “our attention will be completely focused on the future and not on what we need to do to reposition or restructure the business.”

On Wednesday, AT&T said its base wireless unit added about 880,000 postpaid phones in the fourth quarter, surpassing the gain of 800,000 phones during the same period of 2020. The company’s WarnerMedia unit ended 2021 with 73.8 million global HBO subscribers, ahead of its 70 million. to 73 million target.

AT&T announced in May its intention to split WarnerMedia, the entertainment empire it acquired in 2018, into a new joint venture with Discovery Inc. The transaction received approval from European competition authorities in December, but is still under review in the US and other countries.

AT&T shareholders will retain a 71% stake in the creation of new media, so the company’s share price partly reflects the market value of this future media company, which will be called Warner Bros. . Discovery.

The remaining telecommunications company is expected to pay shareholders a lower annual dividend. Executives said the annual payment would drop from around $ 15 billion to between $ 8 billion and $ 9 billion after the media coverage closes. An AT&T spokesperson pointed to executives who said the amount would still make them one of the most profitable companies among dividend payers.

David Jeffress, portfolio manager at Laffer Tengler Investments, said his company owned AT&T shares but sold them in early 2021. He cited dividend cuts among his concerns.

“Once you’ve reduced your dividend and that level of uncertainty is built in, it’s really hard to regain the confidence of a dividend investor,” he said. “We could come back to this at some point in the future, but we would really like to see the dust settle. “

SHARE YOUR THOUGHTS

Can AT&T succeed by focusing on the telephone and the Internet again? Why or why not? Join the conversation below.

A second depressing factor for AT & T’s actions has also penalized its close rivals. T-Mobile US Shares Inc.

and Verizon Communications Inc.

sank almost as much as AT&T’s in 2021, as all three carriers offered significant discounts to retain and attract customers.

These rebates, coupled with an increase in federal government grants linked to the coronavirus pandemic, have helped mobile carriers post unusually strong growth. The top three carriers gained nearly 5 million postpaid phone connections – a closely watched measure – in the nine months that ended in September.

The increase in the number of subscribers has made some market watchers wonder how long the good times can last. Jeff Moore, wireless industry analyst for Wave7 Research, compared such explosive growth to the 32 NFL teams winning the same Super Bowl.

“It just doesn’t make sense,” he said. “You would think someone loses and someone else wins.”

“Once you’ve reduced your dividend… it’s really hard to regain the confidence of a dividend investor.”


– David Jeffress, portfolio manager at Laffer Tengler Investments

AT & T’s rivals have blamed its year-old marketing blitz, which offered big smartphone discounts to new and existing customers, as the start of a race to the bottom that could potentially hurt the bottom line. industry.

AT&T executives have said their wireless customer growth is sustainable. They cited smarter marketing and improved traction in the public safety market, along with discounts, as factors that contribute to their bottom line.

Mr Moore agreed and said Verizon is most vulnerable to the decline in customer growth this year as its retail marketing operations have lost ground to more aggressive rivals. A spokesperson for Verizon declined to comment.

“There is too much skepticism about AT&T,” the analyst said. “They really reversed their results.”

Some shareholders were not prepared to wait. Jerry Braakman, chief investment officer at First American Trust, said his company held shares of AT&T in client portfolios for several years before selling them in December 2020. He said the Pandemic Reorganization of Winners and losers in the film industry prevented AT & T’s WarnerMedia unit from delivering on its promise.

“AT&T looked like they were having difficulty with their strategy, so we decided not to keep lowering something,” he said. “Sometimes you have to cut your losses and move on.”

John Stankey talks about AT&T’s future as a streaming service and how its theatrical distribution has been affected by the pandemic with WSJ Editor-in-Chief Matt Murray at WSJ Tech Live 2020. Photo: John Lamparski / Getty Images (Video of 19/10/2020)

Other investors are looking to take advantage of the pessimism. Ryan Kelley, chief investment officer and portfolio manager at Hennessy Funds, said his company still owns AT&T shares in a value-style fund that focuses on high dividend yielding stocks.

“With the dividend being what it is and analysts becoming more comfortable with where they are today, we’re hoping for better returns here,” he said. “I hope most of the disadvantages have already been built into the stock.”

Write to Drew FitzGerald at andrew.fitzgerald@wsj.com and Karen Langley at karen.langley@wsj.com

Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Investment bank obtains foreign ADI license https://gametowne.com/investment-bank-obtains-foreign-adi-license/ Tue, 04 Jan 2022 01:43:34 +0000 https://gametowne.com/investment-bank-obtains-foreign-adi-license/ A bank specializing in capital markets and investment and business banking has been licensed to operate in Australia. The Australian Prudential Regulation Authority (APRA) has granted Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) a license to operate as a Foreign Approved Depository Institution (Foreign ADI) under the Banking Act of 1959. Crédit Agricole […]]]>

A bank specializing in capital markets and investment and business banking has been licensed to operate in Australia.

The Australian Prudential Regulation Authority (APRA) has granted Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) a license to operate as a Foreign Approved Depository Institution (Foreign ADI) under the Banking Act of 1959.

Crédit Agricole CIB, a subsidiary of the French retail banking group Crédit Agricole, specializes in the business of market and investment banking and financing.

While Crédit Agricole CIB has been present in Australia since the early 1980s – widely offering a range of financial products and services with particular expertise in the sectors of project finance, real estate and acquisitions – it has now obtained the authorization to operate as a foreign bank. .

Its main clients are financial sponsors, construction contractors, Australian-based companies and investors in the real estate, natural resources, energy and infrastructure sectors.

The license is effective from January 4, 2022.

Crédit Agricole CIB had not issued a declaration at the time of writing.

The bank is the second foreign ADI to receive a banking license from APRA in recent weeks, after Barclays Bank PLC – one of the UK’s largest banks – has been licensed to operate in Australia and plans to open a branch in Sydney in April 2022.

[Related: Bank granted foreign ADI licence]

Investment bank obtains foreign ADI license

>The Australian Prudential Regulation Authority (APRA) has granted Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) a license to operate as a Foreign Approved Depository Institution (Foreign ADI) under the Banking Act of 1959.

Crédit Agricole CIB, a subsidiary of the French retail banking group Crédit Agricole, specializes in the business of market and investment banking and financing.

While Crédit Agricole CIB has been present in Australia since the early 1980s – widely offering a range of financial products and services with particular expertise in the sectors of project finance, real estate and acquisitions – it has now obtained the authorization to operate as a foreign bank. .

Its main clients are financial sponsors, construction contractors, Australian-based companies and investors in the real estate, natural resources, energy and infrastructure sectors.

The license is effective from January 4, 2022.

Crédit Agricole CIB had not issued a declaration at the time of writing.

The bank is the second foreign ADI to receive a banking license from APRA in recent weeks, after Barclays Bank PLC – one of the UK’s largest banks – has been licensed to operate in Australia and plans to open a branch in Sydney in April 2022.

[Related: Bank granted foreign ADI licence]

Investment bank obtains foreign ADI license

mortgage company

Last updated: January 04, 2022

Posted: 04 January 2022

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Annie kane

Annie kane

Annie Kane is the managing editor of The Adviser and Mortgage Business.

In addition to writing about the Australian brokerage industry, mortgage market, financial regulation, fintechs and the broader lending landscape – Annie is also the host of Elite Broker and In Focus podcasts and The Adviser Live webcasts. .

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After a sparkling year, investors urged to moderate their hopes for 2022 | Invest https://gametowne.com/after-a-sparkling-year-investors-urged-to-moderate-their-hopes-for-2022-invest/ Sun, 02 Jan 2022 00:00:00 +0000 https://gametowne.com/after-a-sparkling-year-investors-urged-to-moderate-their-hopes-for-2022-invest/ TToo much of a good thing can make anyone – as many know after a week of leftover turkey. The same is true for the economy and the markets, if one relies on analysts’ forecasts for the coming year. Just sitting around doing nothing (or investing passively) is an admirable strategy in most years. In […]]]>

TToo much of a good thing can make anyone – as many know after a week of leftover turkey. The same is true for the economy and the markets, if one relies on analysts’ forecasts for the coming year.

Just sitting around doing nothing (or investing passively) is an admirable strategy in most years. In 2021, it was masterful. London’s benchmark stock index, the FTSE 100, ended December 14.3% higher than last January, and in the US, buying stocks was even more rewarding: the S&P 500 rose by more than a quarter in value.

But even though money was seemingly so easy to make last year, investors and economists are wary of 2022.

“Investors have enjoyed exceptional returns over the past 18 months, but these returns are, in large part, borrowed from the future,” said Joseph Little, chief global strategist at HSBC Asset Management. He thinks a “payback period” is in order.

Guy Foster, his counterpart at wealth management firm Brewin Dolphin, says 2021’s earnings have grown at “a breakneck pace,” and the best we can hope for is a slight deceleration rather than a painful crisis.

And Emiel van den Heiligenberg of Legal & General Investment Management even mentions the dreaded b-word – ‘bubble’ – if only to emphasize that we’re not there yet, despite some of the market madness of 2021.

Predicting stock index movements is always a mouth game – as the pandemic has pointed out – so some limited kudos must go to those who still place their bets publicly. The brave who have put their reputations on the line to forecast for the coming year range from Morgan Stanley (S&P 500 down 9%) to Wells Fargo (S&P 500 up 11%) – a sign of the investor uncertainty.

Credit Suisse is one of the few banks to have nailed its colors to the mast of the FTSE 100, predicting that London blue chips will gain a paltry 7%. Stockbroker AJ Bell is even more pessimistic, at just 4%.

HSBC and Deutsche Bank analysts predict that the US and European economies will experience growth of between 3.75% and 5% in 2022. Yet Japan’s Nomura warns that US growth could slow significantly in the second half of the year.

Among those lining up to spoil the party is Chinese President Xi Jinping, who has previously denied music to his country’s tech moguls. Sino experts suggest Beijing remove the punch bowl with stricter credits and regulations.

Then there’s inflation, the dog that can finally bark after 12 years of ostentatious silence. This time, things could really be different: UK consumer prices have risen 5.1% over the past year and US prices 6.8%.

The Bank of England’s Andrew Bailey has already made his best impression of Mervyn King, raising interest rates as a downturn seemed imminent (although it may only be mild, linked to Omicron). Nonetheless, the rate hike is a signal that central banks are really feeling the constant dips in inflation – even though some of the price increases are caused by pandemic disruption rather than widespread wage increases. Stopping the flow of money to the economy without hurting the recovery could turn into a fierce balancing act.

“It’s devilishly difficult to achieve a soft landing,” says David Folkerts-Landau of Deutsche. “But it can and has been done.” Buckle up.

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The FTSE 100 rallies 14.3% in 2021, its best year since 2016 – business live | Business https://gametowne.com/the-ftse-100-rallies-14-3-in-2021-its-best-year-since-2016-business-live-business/ Fri, 31 Dec 2021 13:58:43 +0000 https://gametowne.com/the-ftse-100-rallies-14-3-in-2021-its-best-year-since-2016-business-live-business/ The skyline of the City of London as seen from London Bridge this week Photograph: Thomas Krych / SOPA Images / REX / Shutterstock Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business. It is the last trading day of the year, and What it’s been a […]]]>



The skyline of the City of London as seen from London Bridge this week Photograph: Thomas Krych / SOPA Images / REX / Shutterstock

Hello and welcome to our continued coverage of the global economy, financial markets, euro area and business.

It is the last trading day of the year, and What it’s been a year.

It started with the GameStop drama, when retail investors crammed into memes stocks and battled hedge funds. It has been dominated by the pandemic, with vaccines allowing economies to reopen, … and new variants of Covid-19 resulting in travel restrictions, blockages and supply chain disruptions.

Equity markets rallied as corporate earnings held up. Commodities surged, pushing up costs for businesses.

Central banks continued to stimulate their economies throughout the year, lifting markets, before persistent high inflation forced some to change course.




How inflation rose until 2021

How inflation rose until 2021 Photograph: Moneyfarm

The result – Britain’s blue chip FTSE 100 The index gained more than 14% as it recouped its losses at the start of the pandemic, one of its best performances in the past 20 years.

Today is a half day session, so we’ll have the final score at lunchtime.

Frankfurt and Tokyo wrapped things up yesterday, with Germany DAX gaining 16% and Japan Nikkei up 4.9% to its highest year-end level since 1989.

Holger Zschaepitz
(@Schuldensuehner)

#GermanyDax’s Dax index ended the year with a gain of 16%, the best year since 2019 and almost double the long-term average performance of 8.5%. And it has been a very quiet year for Dax investors. The biggest drop in the Dax index was just over 7%. pic.twitter.com/1YeWJPxShi


December 30, 2021

Wall Street experienced a one-year crash, with the S&P 500 the index rose about 27% as tech mega-companies generated gains.

2021 has been a strong year for equity returns, says Richard Lin, CIO at Digital Wealth Manager Moneyfarm.


The second half of the year saw a little more volatility than the first half – largely thanks to the Omicron variant causing uncertainty – but countries like the United States, Europe and Japan experienced strong growth.

But the picture is a bit different for emerging markets and the Asia-Pacific region, Flax adds:


EM performed negatively in 2021, with the problems really starting in early summer.

China is the main reason for this decline in performance – the two main issues affecting the group’s largest economy are the resurgence of Covid-19 and disappointing economic growth figures. The Chinese government’s crackdown on big tech companies has also impacted the country’s ability to function economically.

We will follow the action until the last day of the year and we will look to 2022.

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Founders First Capital Partners brings a different approach to investing in diversity https://gametowne.com/founders-first-capital-partners-brings-a-different-approach-to-investing-in-diversity/ Wed, 29 Dec 2021 20:17:47 +0000 https://gametowne.com/founders-first-capital-partners-brings-a-different-approach-to-investing-in-diversity/ Kim Folsom came rose through the engineering ranks in the ’80s and’ 90s before founding the first of six companies, three of which were successfully closed. Today, she is the founder and CEO of Founders First Capital Partners, a San Diego-based startup investment firm that uses a non-traditional approach to funding called income-based investing to […]]]>

Kim Folsom came rose through the engineering ranks in the ’80s and’ 90s before founding the first of six companies, three of which were successfully closed. Today, she is the founder and CEO of Founders First Capital Partners, a San Diego-based startup investment firm that uses a non-traditional approach to funding called income-based investing to invest in historically under-represented founders.

Unlike most Silicon Valley venture capitalists, Founders First isn’t looking for the next unicorn. Instead, Folsom is looking for founders from historically underrepresented backgrounds – women, people of color, LBGTQs, veterans – with solid ideas and decent, if not spectacular, incomes and growth, who have struggled to secure successes. external investments to help develop their businesses.

It focuses on B2B companies, usually in the tech arena, that have a complementary product and services that you could turn into recurring subscription revenue. And with the added help of the founders, coaching and advice transforms the business into an engine of recurring revenue growth.

Instead of buying shares in the startup in the hope that it will pull out at some point, Folsom wants to partner with these companies by lending them money, usually between $ 50,000 and $ 1 million, with an average investment of $ 300,000. As they are successful, she succeeds by being paid back over time, based on monthly income with a profit cushion for her business.

I caught up with Folsom last fall to discuss her professional background and why she decided to start a different kind of investment company for people who live and work in areas that are often invisible on Sand Hill Road.

Dreams of startups

Folsom, who is a black woman, became an engineer in the 1980s. She cut her teeth at companies like NCR, where she helped design ATMs, which were cutting edge technology in the early days of the early years. IBM PC. But her goal has always been to run a business, which she knew would not be possible in the companies where she worked.

“I spent the [early part of my career] trying to figure out how I could learn enough in the different companies I worked in to be able to go out on my own. And over time, in the dot-com era of the mid-90s, I started my first business, and I started six before launching Founders First, ”she told me.

She raised $ 30 million along the way and learned what it takes to start a business: valuable information she can share with the companies she finances today.

Folsom didn’t have many role models in the business world when it started out; there were few women, let alone women of color, in engineering roles in the 1980s. She also did not see women become leaders of big tech companies until the late 1980s. 90, when Meg Whitman was appointed CEO of eBay and Carly Fiorina CEO of HP.

Even today, only 8.2% of CEOs in Fortune 500 companies are women, and women of color occupy just 1% of CEO positions in the Fortune 1000, according to data from Women Business Collaborative.

When it comes to women of color running startups, few got venture capital funding when they started, and today the numbers are not much better. Crunchbase found in the first half of 2021, only 1.2% of the $ 147 billion in venture capital funding went to black founders. When you reduced that data to Black Women Founders, the number dropped to a tiny 0.34%.

After her experience as a founder, she wanted to set up a company that helps people usually excluded from this process to facilitate their access to sources of capital.

“The background of various founders is the same – whether they are a woman, a person of color, a military veteran, LGBTQ or in a low and moderate income area – it is difficult to develop. a business and having access to smart money so that you have a positive result of creating wealth, ”she said.

And that’s why she launched Founders First in 2015.

Give back

Folsom knew that she had this rich experience as a startup founder who set up businesses, raised funds and successfully retired, and she wanted to find a way to help others start businesses and get all the same benefits, especially people who were excluded from the world of venture capital finance.

“Having gone through this several times with my own experience, I felt I knew enough to be able to try something, but I wanted to structure this in a way that took advantage of what I knew of the market I was going to serve.” , she said. .

Folsom recognized that the exit offered a reasonable way for investors and founders to make money, but she also knew that the process was not very efficient and did not work for everyone, as many viable companies simply could not not meet the income and growth requirements of most conventional venture capital firms.

She decided that by using revenue-based funding instead of equity, she could build her business around a new class of founders and create an effective investment vehicle for her partners, while also helping those founders to. become much more successful businesses than they could possibly be. theirs.

“There wasn’t that prospect of unicorns in the dot-com era that there is today. But the path to getting to a unicorn business means you’re going to have to [ignore] a lot of really good companies that could have such a big impact on the markets, ”Folsom said.

Rather than unicorns, Folsom says she seeks to build “zebras.” In a 2019 article on Zebras Unite, an organization building a community of zebra founders, zebras were described as follows: “Because there are fewer financial incentives for investors to fund less focused startups. on the more traditional ways out of selling or IPO. , it can be difficult to attract investors. “

Folsom says that is precisely why she tries to help the zebras, because “they can have a significant impact and create wealth both for the community they serve and for the founders.”

Finance the fund

When it launched in 2015, Folsom struggled to find investment partners despite its impressive credentials. Initially, she says most investors thought the idea of ​​investing in various founders using the income-based model was too unorthodox and they didn’t want to take the risk. She started by investing her own money, then went to people who had invested in her in the past.

“You know when I started Founders First and said I wanted to focus on funding various founders and wanted to use a model that was more relevant to business owners, people thought I was was crazy. So I had raised funds in the past, and my first investors… were largely people who bet on me and had bet on me in the past, ”she said.

She did a proof of concept in 2017 with 10 companies, and when it worked, she started looking for a Series A. Before that, however, in 2019, she got a $ 100 million credit facility from Community Investment Management, an organization that promotes inclusion. through loans, a business that seems to fit Folsom’s goals perfectly.

The company has won a Series A totaling $ 11 million this year, including $ 9 million in March from the Rockefeller Foundation and the Surdna Foundation, followed by an additional $ 2 million in November from the WK Kellogg Foundation, Pivotal Ventures ( a Melinda French Gates Company), the Schultz Family Foundation and Arc Chicago, LLC.

She says a growing awareness of institutional racism in the wake of George Floyd’s murder has certainly helped a company like hers try to increase diversity by investing to raise capital. Yet while the company is based in San Diego, like all of its startups, it says no California institutional investor stepped in to participate in the round.

How it works

Folsom is looking for companies that are beyond the ideation phase and are already making money and with some potential for growth with the right fits to the business model. She says founders need to have the right amount of experience, expertise, and a commitment to growth. In addition, the founding team must be open to surrounding itself with new people who can contribute to this growth.

She said they assess investments in companies based on the strength and predictability of their income, but never ask founders to set up credit or personal assets. The company’s income serves as collateral.

The financed company repays the “loan” on the basis of an agreed ceiling amount over a specific period, generally three years. “For Founders First, that cap can be 1.35 to 2 times over that time. The company makes monthly payments using a percentage of revenue. This percentage is agreed upon which can vary between 2% and 10% [of revenue], “she explained.

As a success story using this model, it offers Klarinet Solutions, which provides managed services for Microsoft SharePoint and Office 365. The company had a six-figure average revenue that had been stable for three years before joining the partnership. with the founders. . The founders have helped create new sources of revenue, including recurring revenue, resulting in 2.5x revenue growth in two years, while doubling the size of its staff.

Folsom tries to use its expertise and experience to help other companies like Klarinet access funding to help them grow and expand their businesses in areas that are typically overlooked when it comes to technology finance.

She wants people to understand that helping various founders is not a zero-sum game, certainly not with all the capital available now in house hunting. She understands, through a lifetime of experience, that the current climate fostering diversity and inclusion could change rapidly. Folsom says she has seen opportunities open up in the past, only to close after a year or two, and she hopes it will be different this time around.

“The window opens for a year, 18 months, or two years and then it closes, and [I’m hoping that] this time, when the window is opened, it will not only be a [few people] coming out on the other side. We have to be able to get thousands of people to do it. “

Perhaps as companies like Founders First proliferate to help historically underrepresented groups access more investment dollars, it will help keep that window wide open, creating wealth and jobs in communities that have. been left behind in the past.

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