Business Investment – Game Towne http://gametowne.com/ Fri, 17 Sep 2021 16:47:13 +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 Helicopter boss Leonardo warns £ 1bn investment if UK doesn’t order | Aerospace industry https://gametowne.com/helicopter-boss-leonardo-warns-1bn-investment-if-uk-doesnt-order-aerospace-industry/ https://gametowne.com/helicopter-boss-leonardo-warns-1bn-investment-if-uk-doesnt-order-aerospace-industry/#respond Fri, 17 Sep 2021 15:55:00 +0000 https://gametowne.com/helicopter-boss-leonardo-warns-1bn-investment-if-uk-doesnt-order-aerospace-industry/ Italian helicopter maker Leonardo has said he may reconsider a plan to invest £ 1 billion in British manufacture if the government does not choose him to replace the Royal Air Force’s Puma fleet. The Defense Ministry announced in the spring that it wanted to replace the Puma and possibly three other models. The RAF […]]]>

Italian helicopter maker Leonardo has said he may reconsider a plan to invest £ 1 billion in British manufacture if the government does not choose him to replace the Royal Air Force’s Puma fleet.

The Defense Ministry announced in the spring that it wanted to replace the Puma and possibly three other models. The RAF has used the Puma since the 1970s, and improved versions were widely used to transport troops in wars such as the Falklands, Iraq, and Afghanistan.

Leonardo is competing with Airbus, the European aerospace conglomerate, to build a new mid-size helicopter by around 2025. The Italian company has the UK’s only helicopter factory in Yeovil, Somerset, employing 3,000 workers, but Airbus this week pledged to create 400 jobs in a new helicopter production line in its Broughton plant in North Wales, if it wins the government contract.

Nick Whitney, managing director of Leonardo Helicopters UK, said his company’s existing facilities would be able to deliver its AW149 planes faster and the contract would unlock previously unreported foreign direct investment from the Rome-based manufacturer, including over £ 500million. in Yeovil.

“If the UK government is not showing its confidence in the UK domestic rotary wing company, it has to ask why our parent company should invest in the same volumes,” Whitney told The Guardian. He was speaking at Defense and Security Equipment International, a controversial gun fair held in London.

The Yeovil factory is one of the oldest aerospace facilities in the UK, dating back to 1915 when the Westland Aircraft Works was established to manufacture airplanes for combat in World War I. The fate of the factory has long been politically sensitive. In 1986, it was the subject of a power struggle between then-Prime Minister Margaret Thatcher and his Defense Secretary Michael Heseltine over whether he should be sold to European buyers or Americans.

Any threat to the Yeovil plant could be difficult for the government at a time when helping poorer parts of the UK is a purported priority for Boris Johnson.

Whitney said there was no direct threat to employment at the Yeovil plant, but the order for new boats would help keep it going.

Leonardo chief executive Alessandro Profumo has previously discussed the potential £ 1bn investment with Graham Stuart, Britain’s export minister until this week’s reshuffle. The company has underlined its importance to the local economy, as well as the attractiveness of significant foreign direct investment as the post-Brexit UK tries to market itself as ‘Global Britain’.

The Defense Ministry has yet to release desired specifications for the new helicopter, but Airbus has argued the government should launch an open competition for the job. Airbus would assemble the H175M, a new military version of an existing model, at the Broughton site, which manufactures wings for commercial aircraft such as the A320 and A350.

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“We would love to have the opportunity to compete,” said Colin James, Managing Director of Airbus Helicopters UK. “The UK helicopter industry is in a bit of a slump today. It does not generate exports. Why wouldn’t you have a competition when you have an aerospace company as strong as Airbus looking to invest in the UK? “

James told the Guardian that Airbus will focus on exporting the helicopters, as well as meeting the UK’s military needs. He argued that the investment in Broughton could help grow the UK helicopter industry as NATO countries begin to design the next generation of rotary-wing aircraft over the next decade.

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The evanescent lure of doing business in China https://gametowne.com/the-evanescent-lure-of-doing-business-in-china/ https://gametowne.com/the-evanescent-lure-of-doing-business-in-china/#respond Fri, 17 Sep 2021 04:43:58 +0000 https://gametowne.com/the-evanescent-lure-of-doing-business-in-china/ Sep 18, 2021 IIT’S NOTHING again for foreign companies to suffer the upheavals of the Chinese Communist Party. From revolutionary times, Chairman Mao’s victorious troops did not directly confiscate foreign assets as their Bolshevik predecessors did in Russia. Instead, they exhausted them with higher taxes and fines so large that companies ended up giving up […]]]>

IIT’S NOTHING again for foreign companies to suffer the upheavals of the Chinese Communist Party. From revolutionary times, Chairman Mao’s victorious troops did not directly confiscate foreign assets as their Bolshevik predecessors did in Russia. Instead, they exhausted them with higher taxes and fines so large that companies ended up giving up their assets for nothing. In a memorable case unearthed by Aron Shai, an Israeli scholar, a British industrialist in 1954 said he handed everything over to the Communists, from “large blocks of godowns (warehouses) to pencils and paper”. And yet, he complained, Comrade Ho, his counterpart, continued to haggle “like a pre-liberation shopkeeper.”

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Although multinationals have flocked to China since, government bickering continued, encompassing everything from technology transfer to free corporate investment. There have been big improvements, but the teasing is a constant reminder, as one American puts it, that companies shouldn’t get “too big for their pants.” Western companies operate in China with tolerance, and the country may one day seek to replace them.

As a result, some may have felt a sense of Schadenfreude that Chinese, not Western, companies have been the main victims of President Xi Jinping’s recent efforts to socially design a new type of economy. In the past week alone, the government has taken steps to lower barriers between tech giants Alibaba and Tencent, and, according to the Financial Time, ordered the dismantling of Alipay, a financial super-app owned by Alibaba’s sister company, Ant. Some even go so far as to make flattering comparisons between Mr. Xi’s efforts to emasculate China’s tech “oligarchs” and how US and European governments are preying on Western tech giants.

The heaviness, however, cools to an unusual degree. The whim too. Kenneth Jarrett, a seasoned China observer in Shanghai for the Albright Stonebridge Group, a consultancy firm, says the question on everyone’s lips is “who could be next? The crackdown comes against a backdrop of growing tensions between China and the West that leave multinationals stuck in a sort of semi-legal vacuum. For many, China’s appeal remains irresistible. But the perils overtake the promise.

Besides banks and asset managers, some of whose investments in China have been hit hard in recent months, several types of multinational companies are at risk. One group includes those who earn most of their money in China, from pimping to a golden elite who flaunt their purses and sports cars at $ 3,000. Another includes companies that irritate their customers for what can be interpreted as Western arrogance; Tesla, the electric car maker, is one example. A third category includes European and American manufacturers of advanced manufacturing equipment and medical devices that China believes must produce itself.

As usual, the threats come in the form of political announcements that seem deceptively bland. One, “common prosperity,” is a catch-all phrase ranging from reducing social inequalities to more pampering workers and clients to nanny overworked youth. Its most obvious impact is on Chinese tech, tutoring and gaming companies, which have lost hundreds of billions of dollars in market value as a result of government crackdown. Yet multinationals have also been caught in the fallout. In a few days in August, the valuation of European luxury brands, such as Kering, supplier of Gucci handbags, and LVMH, a seller of trinkets and bubbles, fell $ 75 billion after investors finally took Xi’s common prosperity agenda seriously.

Xi does not intend to force Chinese consumers to return to Mao’s costumes. But its war on flamboyance, especially among the wealthy who can spend at least $ 100,000 each a year on foreign brands, threatens the most lucrative part of the market. It also puts luxury brands at risk that charge Chinese consumers more than in their outlets, for example, in Milan. Flavio Cereda of Jefferies, an investment bank, expects the government to continue supporting a growing middle-class luxury market, as ambitious purchases reflect economic success. If China spoils the experience, the shock could be huge. Its consumers account for 45% of global luxury spending, he says. “No China, no party.”

“Dual circulation” is another buzzword with disturbing connotations. It is an attempt to promote self-sufficiency in natural resources and technology, in part in response to fears that a reliance on Western suppliers will make China vulnerable to geopolitical and trade pressures. But it also poses a threat to Western multinationals in China by reducing technology imports and creating a “buy Chinese” mentality. Friedolin Track BDI, a German industry federation, notes that state-owned enterprises in China have reportedly received procurement guidelines that require domestic supply of devices such as X-Beam machines and radar equipment.

Between a block and a hard place

Everything becomes a catch-22. On the one hand, America, Europe and their allies are in a geopolitical conflict with China, which they blame for human rights abuses in places like Xinjiang, home of the oppressed Uyghur minority. The West wants to restrict the technologies that its companies sell to China and the materials, like cotton, that they buy there. On the other hand, China is asserting its right to retaliate against companies it claims are engaging in geopolitics.

Jörg Wuttke, President of the EU The China Chamber of Commerce says the size of the Chinese market is worth it. “The biggest risk is not being in China,” he insists. Still, anyone with a long-term perspective might see Mr. Xi’s undisputed personal authority, his gamble on reshaping the Chinese economy, and the grim geopolitical backdrop as more than enough reasons to consider an exit. It may never happen to that. But as in the post-revolutionary era, sometimes one warning shot too many is enough to convince even the most daring industrialist to throw in the towel.

This article appeared in the Business section of the print edition under the headline “Who Will Be Next?”

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Governor Carney, Lieutenant Governor Hall-Long, United States Senator Carper and United States Representative Blunt Rochester announce $ 110 million investment in universal broadband https://gametowne.com/governor-carney-lieutenant-governor-hall-long-united-states-senator-carper-and-united-states-representative-blunt-rochester-announce-110-million-investment-in-universal-broadband/ https://gametowne.com/governor-carney-lieutenant-governor-hall-long-united-states-senator-carper-and-united-states-representative-blunt-rochester-announce-110-million-investment-in-universal-broadband/#respond Thu, 16 Sep 2021 17:35:00 +0000 https://gametowne.com/governor-carney-lieutenant-governor-hall-long-united-states-senator-carper-and-united-states-representative-blunt-rochester-announce-110-million-investment-in-universal-broadband/ September 16, 2021 Delaware aims to be the first state to reach every home and business with wired broadband broadband service Investment in broadband infrastructure is funded by the American Rescue Plan Act (ARPA), enacted by President Joe Biden BRIDGEVILLE, Del. – Governor John Carney, Lieutenant Governor Bethany Hall-Long, United States Senator Tom Carper, United […]]]>
September 16, 2021

Delaware aims to be the first state to reach every home and business with wired broadband broadband service

Investment in broadband infrastructure is funded by the American Rescue Plan Act (ARPA), enacted by President Joe Biden

BRIDGEVILLE, Del. – Governor John Carney, Lieutenant Governor Bethany Hall-Long, United States Senator Tom Carper, United States Representative Lisa Blunt Rochester, members of the General Assembly and the Delaware Department of Technology and Information (DTI) on Thursday announced a $ 110 million investment to cover every “last mile” of Delaware with high-speed wired broadband Internet service.

Investing in broadband infrastructure – funded by the American Rescue Plan Act (ARPA), which was signed in law the 11th of March by President Joe Biden – aims to make Delaware the first state to provide wired broadband access to every home and business in Delaware.

“Delawaren rely on stable internet connections to apply for jobs, help their children with homework, work from home or continue their education online,” said Governor Carney. “This significant investment will recognize this reality and ensure that all Delaware families have access to high-speed broadband service. We know this is more important than ever after the lessons we learned during the COVID-19 pandemic. I would like to thank the Delaware federal delegation for voting in favor of approving the American Rescue Plan Act and President Joe Biden for enacting this important legislation.

Currently, approximately 11,600 Delaware homes and businesses do not have access to wired broadband broadband service. The broadband infrastructure project announced Thursday will target investments in areas currently unserved or underserved, lacking a wired connection, and will prioritize projects that achieve “last mile” connections for households and businesses.

Click here to display maps of the areas most in need of expanding broadband networks across Delaware.

“Access to broadband is an infrastructure. Just like when our roads, bridges and railways are broken, we fix them and we need to do the same for our broadband access and fill those gaps, ”said Lieutenant Governor Bethany Hall-Long. “This essential investment by our federal government is a unique opportunity for us to make a real difference and make significant investments. I am excited about the opportunity to truly put our state in a strong position to meet the challenges of tomorrow.

Photo of the governor’s office

“The coronavirus pandemic has shown how Americans depend on the Internet for school, running a business, or just for health care. Unfortunately, too many people in the first state do not have access to a reliable internet connection, ”said US Senator Tom Carper. “When our Congressional delegation was working on the US bailout, we knew we had to provide strong and flexible funding to states to meet their own unique needs. I am so happy that the state is using US bailout funds to bridge this digital divide, and I applaud Governor Carney’s leadership in tackling this pandemic and Delaware’s progress. ”

“Reliable high-speed internet access is becoming increasingly essential for success in the 21st century,” said US Senator Chris Coons, member of the Senate Appropriations Committee. “Today’s news will connect thousands of people in Delaware to broadband service. With the current challenges of COVID-19, we have especially felt the pressure associated with an unreliable internet in our state. Whether it’s connecting kids to schools, the elderly to doctors, or rural farmers to cutting-edge agricultural data, this $ 110 million investment in federal funds will expand broadband availability, increase internet speeds and make Delaware one of the most connected countries. States in America.

“Access to affordable and reliable broadband has been an issue for students, families, and businesses in Delaware for years, especially those in the state’s most rural and urban areas,” said we Representative Lisa Blunt Rochester. “The COVID-19 pandemic has only exacerbated the critical need for broadband broadband service as Delawaren have found themselves more than ever learning, working and educating from home. With $ 110 million secured thanks to the US bailout that I voted on in March, Delaware will now be able to invest in major updates to our broadband infrastructure in areas that need it most. .

“Many local officials have long said that more investment needs to be made in broadband connectivity,” said State Senator Brian Pettyjohn. “As the events of the past year painfully demonstrated, the infrastructure required to support businesses, distance learning and other vital activities in the modern world is simply not in place. This investment will make our communities more competitive in a global economy, allow our students to have equal access to information for learning, and provide improvements in health, safety and security, even in the most vulnerable areas. most remote from our state. “

“The COVID-19 pandemic has made it clear how integral broadband is to modern life,” said State Senator Nicole Poore, Chairman of the Joint Capital Improvement Committee. “The Delawaren have logged in for work, school, doctor’s visits and just to spend a few minutes with loved ones. Others have turned to broadband internet to keep their businesses going. Here in the 21st century, we cannot afford that entire cities and communities are without this vital service, and I commend Governor John Carney for delivering on his promise to close the remaining gaps in broadband service. for our rural communities.

“Building on our previous investments in fiber and wireless broadband, our goal is to be the first state to provide wired internet to every home and business in Delaware,” said CIO Jason Clarke. “Working with our state-owned Internet service providers to provide a reliable and scalable solution will enable Delaware to meet current and future demands for broadband. ”

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Investment bank Moelis says salaries for juniors should continue to rise across industry https://gametowne.com/investment-bank-moelis-says-salaries-for-juniors-should-continue-to-rise-across-industry/ https://gametowne.com/investment-bank-moelis-says-salaries-for-juniors-should-continue-to-rise-across-industry/#respond Fri, 10 Sep 2021 18:23:04 +0000 https://gametowne.com/investment-bank-moelis-says-salaries-for-juniors-should-continue-to-rise-across-industry/ Boutique finance bank Moelis & Co. has increased junior bankers’ salaries by 30% this year – and according to its chief executive, they’re just getting started. “We certainly expect to pay people more than ever before,” said Ken Moelis, founding president and CEO of Moelis & Co. in an interview with Bloomberg Television on Thursday. […]]]>

Boutique finance bank Moelis & Co. has increased junior bankers’ salaries by 30% this year – and according to its chief executive, they’re just getting started.

“We certainly expect to pay people more than ever before,” said Ken Moelis, founding president and CEO of Moelis & Co. in an interview with Bloomberg Television on Thursday. “We don’t do it reluctantly. Business is booming, ”

Moelis and various Wall Street companies have spread the wealth this year as business peaks.

Last month, Moelis increased the salaries of first-year analysts from $ 85,000 to $ 110,000 and that of second-year analysts from $ 95,000 to $ 125,000 last month. Moelis declined to comment.

In recent months, Wall Street companies have raised salaries for juniors as banks, along with Goldman Sachs and JPMorgan, have posted profits as the economic system comes to life.

The increase in transactions, capital increase and IPOs have all helped fund bank revenues, while the trillions the Federal Reserve has pumped into the markets have taken many stocks to new heights.

“They are working harder than ever and technology is making them extremely productive,” Moelis said of Junior Bankers.
Sergei Karpoukhine / TASS

In August, David Solomon’s Goldman Sachs also increased the base salary of junior bankers by 30 percent, which saw first-year associates earn $ 110,000. Earlier this year, JPMorgan Chase, Citigroup and Morgan Stanley increased the early years salary from $ 85,000 to $ 100,000.

Banks are handing out a lot of cash to keep overworked expertise from leaking out amid a skyrocketing workload thanks to soaring offers.

In March, a leaked slideshow compiled by 13 junior Goldman Sachs analysts detailed complaints about 100-hour work weeks. Some have complained of shifts as long as 20 hours that leave them little time to eat, sleep or bathe, saying the work undermines their physical and psychological well-being.

The complaints led Goldman and JPMorgan to pledge to hire additional workers, the latter pledging to increase its workforce by 200. Private equity firm Apollo Global Management has reportedly provided some associates with up to $ 200,000. to stay.

Elsewhere, Citibank CEO Jane Fraser has asked workers to ban Zoom conferences on Fridays to deal with Zoom fatigue. The Jefferies investment bank even provided its young employees with the Primo Peloton bike as a “thank you” for the long hours of work.

Six-figure salaries are simply the base salary junior bankers get – this amount does not include bonuses. For senior bankers, a bonus will be worth several hundred or even hundreds of thousands of {dollars}.

“The flow of business, if it continues to grow like it does, we need the best talent in the world,” added Moelis.

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Harvard University Ends Fossil Fuel Investments https://gametowne.com/harvard-university-ends-fossil-fuel-investments/ https://gametowne.com/harvard-university-ends-fossil-fuel-investments/#respond Fri, 10 Sep 2021 02:30:00 +0000 https://gametowne.com/harvard-university-ends-fossil-fuel-investments/ Lawrence Bacow speaks during his inauguration as the 29th President of Harvard University in Cambridge, Massachusetts, United States, October 5, 2018. REUTERS / Brian Snyder BOSTON, Sept. 9 (Reuters) – Harvard University is ending its fossil fuel investments, the school president said on Thursday, praising divestment activists who had long lobbied the main university for […]]]>

Lawrence Bacow speaks during his inauguration as the 29th President of Harvard University in Cambridge, Massachusetts, United States, October 5, 2018. REUTERS / Brian Snyder

BOSTON, Sept. 9 (Reuters) – Harvard University is ending its fossil fuel investments, the school president said on Thursday, praising divestment activists who had long lobbied the main university for it to withdraw from these assets.

In a letter posted on the Harvard website, President Lawrence Bacow said the school’s endowment had no direct investment in fossil fuel exploration or development companies as of June and would not make such investments in the future, “given the need to decarbonize the economy”.

The university’s indirect investments in the fossil fuel industry “are in trickle-down mode,” he added. Indirect investments, made through private equity funds, represent less than 2% of the endowment, Bacow wrote.

Recently valued at around $ 42 billion, the highest of any university, the school’s endowment has for years come under pressure from students, alumni and other activists to sell off its fuel reserves. fossils to slow climate change.

Others called such movements only posture. In May, an activist fund took a different approach and won three seats on the board of ExxonMobil Corp (XOM.N), promising to reform the climate record of the main oil company. Read more

Representatives from the Cambridge, Massachusetts school did not immediately provide further details.

For most of the past decade, former Harvard officials had resisted calls to sell fossil fuel stocks, but recently changed course under the leadership of new leaders, including Bacow, president since 2018.

Internal pressure for divestment has also grown, especially from young members elected to one of Harvard’s governing boards last year on a divestment platform.

Divest Harvard, one of the activist groups, on Twitter described the move as “a massive victory for our community, the climate movement and the world – and a strike against the power of the fossil fuel industry.”

Reporting by Ross Kerber in Boston; Editing by Richard Pullin

Our Standards: The Thomson Reuters Trust Principles.

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Chimera Investment Corporation sponsors two residential mortgage securitizations https://gametowne.com/chimera-investment-corporation-sponsors-two-residential-mortgage-securitizations/ https://gametowne.com/chimera-investment-corporation-sponsors-two-residential-mortgage-securitizations/#respond Tue, 07 Sep 2021 20:45:00 +0000 https://gametowne.com/chimera-investment-corporation-sponsors-two-residential-mortgage-securitizations/ NEW YORK–(COMMERCIAL THREAD) – Chimera Investment Corporation (NYSE: CIM) announced that since the end of the second quarter, it has sponsored two residential mortgage securitizations with a total principal balance of $ 885 million. On September 7, 2021, sponsored CIM 2021-R5, a securitization of $ 450.4 million of seasoned reproductive residential mortgage loans. The securities […]]]>

NEW YORK–(COMMERCIAL THREAD) – Chimera Investment Corporation (NYSE: CIM) announced that since the end of the second quarter, it has sponsored two residential mortgage securitizations with a total principal balance of $ 885 million.

On September 7, 2021, sponsored CIM 2021-R5, a securitization of $ 450.4 million of seasoned reproductive residential mortgage loans. The securities issued by CIM 2021-R5, for an aggregate balance of approximately $ 382.8 million, were sold through a private placement to institutional investors. These senior securities represented approximately 85% of the capital structure. Chimera retained subordinated interests in securities with a total balance of approximately $ 67.6 million and certain interest-only securities. Chimera also retained an option to repurchase the securitized mortgages at any time from August 2024. Chimera’s average cost of debt for this securitization is 1.99%.

In addition, Chimera sponsored its first agency-eligible loan securitization of 2021, $ 434.7 million from CIM 2021-INV1 in August. Chimera has retained subordinated interests in securities with a total balance of approximately $ 26.5 million and certain interest-only securities. The securitization has a 10% cleanup and is rated by Moody’s and Kroll.

Disclaimer

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, therefore, readers do not should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “target”, “assume”, “estimate”, “project”, “budget”, “anticipate”, “anticipate”, “intend to”, “plan”, “May”, “” “” could “,” should “,” believe “,” predict “,” potential “,” continue “and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are posted. Chimera neither undertakes nor accepts any obligation to publicly release updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in the events, conditions or circumstances on which such statement is based. Additional information regarding these and other risk factors can be found in Chimera’s most recent documents with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements regarding Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the above cautionary statements.

About Chimera Investment Corporation

We are a publicly traded REIT primarily engaged in investing, with leverage, in a diversified portfolio of real estate assets including Mortgages, Agencyless RMBS, Agency CMBS, Real Estate RMBS agency and other real estate assets. .

Please visit www.chimerareit.com for more information about the Company.

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Fidelity Investments raises hiring target to 16,000 for the year https://gametowne.com/fidelity-investments-raises-hiring-target-to-16000-for-the-year/ https://gametowne.com/fidelity-investments-raises-hiring-target-to-16000-for-the-year/#respond Tue, 31 Aug 2021 22:27:42 +0000 https://gametowne.com/fidelity-investments-raises-hiring-target-to-16000-for-the-year/ Business is clearly good at Fidelity Investments. The Boston financial giant massively displays the “Help Wanted” sign, saying Tuesday it wants to add 9,000 American workers in the second half of this year. Combined with previous initiatives, Fidelity plans to hire 16,000 new employees in 2021, doubling last year’s growth and bringing its US workforce […]]]>

Business is clearly good at Fidelity Investments.

The Boston financial giant massively displays the “Help Wanted” sign, saying Tuesday it wants to add 9,000 American workers in the second half of this year. Combined with previous initiatives, Fidelity plans to hire 16,000 new employees in 2021, doubling last year’s growth and bringing its US workforce to over 60,000.

Think about it for a minute: Even after the usual attrition (and a voluntary buyout program in June), the 75-year-old is increasing its ranks by more than a fifth in a year. Unfortunately for Massachusetts, most of the hiring is done elsewhere.

Here is the backstory.

With the Standard & Poor’s 500 index up 20% this year, Fidelity has attracted clients at a rapid pace as investors – especially millennials and Gen Z – dive deeper into the market and become more connected. comfortable with bitcoin and other digital assets. Its institutional investing and employee benefits business is also thriving.

The company added 1.7 million retail accounts in the second quarter, an increase of 39% from the previous year. Four in 10 of these accounts were opened by clients 35 years of age or younger. Fidelity managed $ 4.2 trillion in client assets as of June 30, up 26% from the previous year.

“Our financial strength and stability allow us to make significant investments in our business,” said Abigail Johnson, chief executive officer of the company, in a statement.

The outlook was not so bright in early 2020, when the COVID-19 crisis brought the market crashing down and investment firms were locked in a race to the bottom with no-cost, no-cost funds. commission. But Fidelity didn’t flinch when competitors E * Trade Financial and TD Ameritrade were swallowed up by Morgan Stanley and Charles Schwab Corp., respectively.

Instead, the company continued to build its fund list, opened more customer service centers (including one recently in Rhode Island), and rolled out cryptocurrency trading and accounts for clients’ teenage children. A long-term diversification drive – into index funds, pension and benefit management, securities lending and other lines of business – has really paid off.

With more than 38 million customers, Fidelity relies on the people and technology to keep them happy. The company said more than 40% of this year’s hires will be in direct-to-customer positions, including call center representatives, financial advisors and institutional client managers. Almost 10 percent of new positions will be in technology.

But as Fidelity grows, its presence in Massachusetts has diminished. In 2010, the company had 8,000 workers in the state. At the end of last year, that number was 5,700, or 13% of the US workforce.

In the 1990s, Abigail Johnson’s father and predecessor, Edward “Ned” Johnson III, moved workers to states such as New Hampshire, Rhode Island and Kentucky, in part to express his dissatisfaction with taxes. from Massachusetts. Later, Fidelity added workers in different time zones so they could offer longer customer service hours. Earlier this year, the company announced it would hire 1,000 financial planners in new markets, including Chicago, Los Angeles and Seattle.

The hiring announced Tuesday, which was first reported by The Wall Street Journal, includes 950 jobs in New Hampshire and 850 in Rhode Island, but only 365 in Massachusetts.

In a big country and in a business like financial services, the hometown is just not as important as it was a generation ago.


Larry Edelman can be reached at larry.edelman@globe.com. Follow him on twitter @GlobeNewsEd.

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BGHL (EUR): NAV (s) https://gametowne.com/bghl-eur-nav-s/ https://gametowne.com/bghl-eur-nav-s/#respond Tue, 24 Aug 2021 05:30:00 +0000 https://gametowne.com/bghl-eur-nav-s/ BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary actions The Directors of Boussard & Gavaudan Holding Limited wish to announce the following information for the Company. Office closes on August 23, 2021. Estimated net asset value Shares in euros Shares in pounds sterling Estimated net asset value € 27.3652 £ 23.7551 Estimated return MDT 0.58% 0.61% Estimated […]]]>

BOUSSARD & GAVAUDAN HOLDING LIMITED

Ordinary actions

The Directors of Boussard & Gavaudan Holding Limited wish to announce the following information for the Company.

Office closes on August 23, 2021.

Estimated net asset value

Shares in euros Shares in pounds sterling
Estimated net asset value € 27.3652 £ 23.7551
Estimated return MDT 0.58% 0.61%
Estimated YTD Yield 5.51% 4.33%
Estimated ITD yield 173.65% 137.55%

Net asset value and returns are calculated net of management and performance fees

Market information

Shares in euros Amsterdam (AEX) London (LSE)
Market closing € 21.50 N / A
Premium / reduction from estimated net asset value -21.43% N / A
Shares in pounds sterling Amsterdam (AEX) London (LSE)
Market closing N / A GBX 1,800.00
Premium / reduction from estimated net asset value N / A -24.23%

Transactions on own securities purchased in cash

Ordinary actions Shares in euros Shares in pounds sterling
Number of shares N / A N / A
Average price N / A N / A
Price range N / A N / A

Liquidity improvement agreement Shares in euros Shares in pounds sterling
Number of shares N / A N / A
Average price N / A N / A

Capital BGHL

BGHL Ordinary Shares Shares in euros Shares in pounds sterling
Outstanding shares 12,364,769 294,494
Treasure detainee 350,000 N / A
Shares issued 12,714,769 294,494

Estimated net asset value of the BG fund

Class B Euro Shares (estimate) € 231.3398
Class GBP A Shares (estimate) £ 126.1217

BG Fund Class B Euro Shares are not subject to management fees, as the Investment Manager receives management and performance fees for his role as Investment Manager of BGHL.

For more information, please contact:

Boussard & Gavaudan Investment Management, LLP.
Emmanuel Gavaudan +44 (0) 20 3751 5389 Email: info@bgam-uk.com

The Company is incorporated as an investment company with fixed capital domiciled in Guernsey. The Company has received the necessary approval from the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Securities and Markets Authority as an undertaking for collective investment in accordance with article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht) . The shares of the Company (the “Shares”) are listed on Euronext Amsterdam. The Shares are also listed on the official list of the UK Listing Authority and admitted to trading on the main market of the London Stock Exchange plc for listed securities.

This is not an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase securities or the solicitation of a vote or approval in any jurisdiction, and it does not There will also be no sale, issue or transfer of the securities mentioned. in this posting in any jurisdiction in violation of applicable law.

Neither the Company nor BG Fund ICAV has been and will not be registered under the United States Investment Companies Act 1940, as amended (the “Investment Companies Act”). In addition, the securities mentioned in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Therefore, such securities may not be offered, sold, or otherwise transferred in the United States or to, or for the account or benefit of, or for the benefit of, United States persons except in accordance with the Securities Act or an exemption therefrom and in circumstances which do not require the issuer of such securities to be registered under the Investment Companies Act. No public offering of securities will be made in the United States.

You should always keep in mind that:

  • all investments are subject to risk;
  • past results are no guarantee of future results;
  • BGHL’s return on investments may go down as well as up. You may not be able to recoup all of your initial investment; and
  • If you have the slightest doubt about the content of this communication or if you are considering making an investment decision, you are advised to seek the advice of a financial expert.

This communication is for informational purposes only and the information contained in this communication should not be taken as a substitute for financial or other professional advice.

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Ifad Autos shares jump on Tk 80cr investment plan https://gametowne.com/ifad-autos-shares-jump-on-tk-80cr-investment-plan/ https://gametowne.com/ifad-autos-shares-jump-on-tk-80cr-investment-plan/#respond Sun, 22 Aug 2021 18:00:00 +0000 https://gametowne.com/ifad-autos-shares-jump-on-tk-80cr-investment-plan/ Shares of Ifad Autos Ltd jumped 4.42% on the Dhaka Stock Exchange yesterday after announcing plans to invest Tk 80 crore in one of its sister companies. The board of directors of the listed automobile company has decided to make the investment to acquire 40% of the shares of Ifad Multi Products Ltd. The fund […]]]>

Shares of Ifad Autos Ltd jumped 4.42% on the Dhaka Stock Exchange yesterday after announcing plans to invest Tk 80 crore in one of its sister companies.

The board of directors of the listed automobile company has decided to make the investment to acquire 40% of the shares of Ifad Multi Products Ltd. The fund would be raised from the company’s own funds, Ifad Autos said in a regulatory filing.

For all the latest news, follow the Daily Star’s Google News channel.

Ifad Multi Products is one of the sister companies of the Ifad group with joint management.

The purchase of shares will be implemented after obtaining the authorization of the general shareholders.

“We decided to invest in the company to ensure diversification,” said a director of the company, preferring anonymity.

“Ifad Multi Products is a profitable business, therefore shareholders will be rewarded with higher benefits.”

Founded in 2003, Ifad Multi Products is a producer of consumer foods. She began her journey by installing an automated flour mill.

The company has established itself as a supplier of both consumer and industrial-grade salt, according to its website.

Currently, the company is a leading manufacturer and supplier of instant noodles, stick noodles, biscuits and biscuits, spices, and bottled drinking water.

Ifad Autos imports finished vehicles from Ashok Leyland in India and sells them in Bangladesh. He also brings CKD cars (completely overturned) and assembles them locally.

It sells and markets Farmtrac brand agricultural machinery and spare parts from Escorts Limited, an Indian automotive engineering company that operates in the agricultural machinery, construction machinery, material handling and railway equipment sectors. in Bangladesh.

Sales of Ifad Autos were Tk 657 crore in the nine months to March 31, up from Tk 685 crore a year earlier.

During the same period, it recorded profits of Tk 54.9 crore, an increase of 13% year-on-year.

In another disclosure, Ifad Autos said it has signed an agreement with the Bangladesh Economic Zones Authority (Beza) to lease 30 acres of land for tenancy for 50 years to Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai, Chattogram.

The company plans to establish a motorcycle manufacturing and assembly plant, an automotive components plant and a machine lubricant blending plant.

The annual rent is $ 303,514. Ifad Autos paid $ 607,029 as a security deposit to the Beza.

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Is this unsinkable REIT a buy? https://gametowne.com/is-this-unsinkable-reit-a-buy/ https://gametowne.com/is-this-unsinkable-reit-a-buy/#respond Sun, 22 Aug 2021 12:01:00 +0000 https://gametowne.com/is-this-unsinkable-reit-a-buy/ Dividend investors are always looking for stocks that have a habit of increasing their payouts, regardless of economic conditions. The most stable and consistent of these are called Dividend Aristocrats, members of the S&P 500 who have increased their payout for at least 25 consecutive years. But it’s not just the components of the S&P […]]]>

Dividend investors are always looking for stocks that have a habit of increasing their payouts, regardless of economic conditions. The most stable and consistent of these are called Dividend Aristocrats, members of the S&P 500 who have increased their payout for at least 25 consecutive years.

But it’s not just the components of the S&P 500 that have proven their reliability. A stock outside the index that has increased its dividend for 32 consecutive years is National Retail Properties (NYSE: NNN).

Two of the main factors that made National Retail Properties’ dividend-boosting sequence possible are the company’s focus on triple-net lease single-tenant retail properties and its diversification both geographically and globally. industry perspective. Let’s take a look at both and see why National Retail Properties is one of the top dividend paying stocks.

Image source: Getty Images.

The business model has proven itself

National Retail Properties is a triple net leasehold real estate investment trust (REIT) that specializes in acquiring single tenant commercial properties valued between $ 2-4 million.

A triple net lease is a rental agreement in which a tenant pays all expenses of the property, such as taxes, insurance, utilities and maintenance, as well as the base rent. The base rent amount is almost entirely allocated to the owner’s bottom line, as he only has to pay general and administrative expenses such as office staff salaries. Tenants with a triple net lease often enjoy greater freedom in customizing their space according to their brand image. Landlords also perceive a reliable source of income (leases are often 10 to 15 years with contractual rent increases built in) without having to take an active role in monitoring the property.

And the advantage of acquiring single-tenant commercial buildings is that, unlike multi-unit buildings (e.g., shopping malls), there is no flagship store that has increased leverage over the landlord in the base rent negotiations. When a flagship store is doing well, it draws traffic to a specific property, which in turn spurs activity for smaller tenants and helps them pay their rent. Conversely, if a flagship store goes bankrupt or moves, it can hurt smaller tenants.

Despite the most difficult operating environment in recent times last year, National Retail Properties has weathered the onset of the COVID-19 pandemic fairly well and is well positioned to return to pre-pandemic growth this year. year.

Even though National Retail Properties’ 89.7% cash-out rate for last year was well below its historic rate of nearly 100%, it didn’t impact the business as much as it did. might be expected. National Retail Properties’ adjusted operating funds (AFFO, the REIT’s earnings equivalent) fell 10.4% from $ 2.80 per share in 2019 to $ 2.51 per share in 2020. Q2 2020 to 99% in Q2 2021 amid better business conditions for tenants such as cinemas and family entertainment centers, the company expects its AFFO per share to increase from $ 2.95 to $ 3.00 this year – 5% to 7% compared to the pre-Pandemic Year of 2019.

A diversified real estate portfolio

Even though National Retail Properties’ portfolio is fully concentrated in retail, the second strength of the company has primarily been able to overcome concentration risk at the height of the COVID-related disruptions in the second quarter of 2020.

National Retail Properties had 3,117 properties in 48 states in Q2 2020 (up from 3,173 in Q2 2021), meaning the company is geographically diverse to protect against weak regional economies, natural disasters in some areas, etc. While COVID cases have increased and resulted in lockdowns in some states last year, other states have not been hit as badly and have partially offset the negative economic impact.

In addition to being geographically diverse, National Retail Properties is also diversified across industries, with convenience stores accounting for 18% of annualized base rent (ABR) in the second quarter of 2021 and automotive services accounting for an additional 11.4%.

Even though cinemas and family entertainment centers must have seen their rent deferred last year, National Retail Properties has weathered the pandemic very well. If the business has managed to overcome the challenges of last year to rebound this year, I think it’s fair to say that there aren’t too many events that could make this business insolvent.

Pure retail play fits seamlessly into a diverse REIT portfolio

While some investors may prefer to invest in more diversified REITs, such as WP Carey and avoid a pure retail REIT like National Retail Properties, I think there is as much room in a diverse REIT portfolio for the latter as there is for the former.

National Retail Properties benefits from economic reopening as more Americans are vaccinated. And even though the Delta variant at some point prompts a reintroduction of social distancing restrictions and guidelines, National Retail Properties has already proven once it can emerge stronger from such an event.

National Retail Properties’ 4.5% return at Friday prices is roughly in line with its 13-year median return of 4.6%. The 4.5% return is secure, as the AFFO payout ratio is going to be 70% to 71% for this year based on the company’s current directions, suggesting that National Retail Properties could be a good buy. for long-term investors.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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