Treasury Management – Game Towne http://gametowne.com/ Thu, 24 Nov 2022 02:29:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://gametowne.com/wp-content/uploads/2021/06/icon-6-150x150.png Treasury Management – Game Towne http://gametowne.com/ 32 32 Crypto Regulation in Australia – Forbes Advisor Australia https://gametowne.com/crypto-regulation-in-australia-forbes-advisor-australia/ Thu, 24 Nov 2022 01:15:37 +0000 https://gametowne.com/crypto-regulation-in-australia-forbes-advisor-australia/ Blockchain APAC Managing Director and Technical Advisor for Skafold Global, Steve Vallas, said token mapping has the potential to shape the regulatory perimeter by helping to legally define digital assets and whether they are products. financial. “As an example, the token mapping exercise could provide insights to exchanges and industry stakeholders on the factors and […]]]>

Blockchain APAC Managing Director and Technical Advisor for Skafold Global, Steve Vallas, said token mapping has the potential to shape the regulatory perimeter by helping to legally define digital assets and whether they are products. financial.

“As an example, the token mapping exercise could provide insights to exchanges and industry stakeholders on the factors and characteristics that create or exclude obligations applicable to financial products,” Vallas said.

“In effect, it facilitates a new opportunity to determine whether the legal classification is appropriate given the type of product, its risk and how it is likely to develop or be reconstituted.”

Global leader, Digital Transformation Practice, Norton Rose Fulbright, Nick Abrahams agrees with the government’s current priorities, saying there is too much unregulated trading in Australia.

“Many of them are on the lower scale. These exchanges pose a significant risk to Australians, especially those who store their crypto on the exchange. If the exchange is compromised by fraud, hacking or lack of of cash, many ordinary Australians will lose their money.

Abrahams said token mapping would help distinguish crypto investments from the more innocuous use of digital tokens, such as for big brand marketing and loyalty programs.

“We need to move quickly to a situation where it is clear which tokens are unregulated and which are regulated. Not all tokens need to be regulated.

Global authority on digital asset regulation and consultant to McDonell Nadeau, Loretta Joseph, said that in addition to “proper custody rules”, the turmoil created by FTX’s collapse has highlighted the urgent need for basic compliance clarity for the crypto industry.

“The last few days have shown that things like reporting, governance, cash management – whether it’s a crypto asset or a security or fixed income assets – those things need to have the appropriate checks and balances put in place by these companies.”

Joseph recently took part in a discussion on global standards for virtual assets at the 17th G20 in Bali: she said progress was being made on global alignment and Australia did not need to reinvent the wheel .

“We are dealing with an industry that is global in nature. I think all jurisdictions should take note of global standard setters and work from those frameworks,” Joseph said.

She said consensus on definitions among regulators globally was also important to avoid what she describes as “jurisdictional arbitrage”.

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Analysis: US banks pounce on fintech deals as valuations plunge https://gametowne.com/analysis-us-banks-pounce-on-fintech-deals-as-valuations-plunge/ Fri, 18 Nov 2022 16:44:00 +0000 https://gametowne.com/analysis-us-banks-pounce-on-fintech-deals-as-valuations-plunge/ NEW YORK, Nov 17 (Reuters) – Fintech companies long seen as a threat by JPMorgan Chase & Co (JPM.N)increasingly becoming acquisition targets for mainstream US banks as rising interest rates and falling valuations curb their expansion. Valuations of listed fintech companies have fallen 70% in 2022, Jefferies Group analysts said in a note last week. […]]]>

NEW YORK, Nov 17 (Reuters) – Fintech companies long seen as a threat by JPMorgan Chase & Co (JPM.N)increasingly becoming acquisition targets for mainstream US banks as rising interest rates and falling valuations curb their expansion.

Valuations of listed fintech companies have fallen 70% in 2022, Jefferies Group analysts said in a note last week. Over the same period, S&P 500 bank valuations are down 33%, while S&P 500 valuations (.SPX) are down 23%, according to data from Refinitiv IBES.

Reuters Charts

The drop presents an opportunity for Main Street banks to buy businesses and bolster their technology for digital banking, online payments and other financial services and to diversify beyond lending.

Huntington Bancshares Inc (HBAN.O) is one of these banks. The Columbus, Ohio, regional bank is looking for other targets after it bought payments fintech Torana in May.

“We can buy more on the payments side,” Huntington CEO Steve Steinour told Reuters in an interview.

Investors have dumped fintech stocks this year alongside other tech stocks, which perform best when economic growth is strong. As the United States tips into a potential recession and interest rates rise, the outlook for fintechs has eroded. The highly publicized explosion of crypto exchange FTX last week also rattled confidence.

“With valuations falling and the IPO and SPAC markets drying up right now, there’s definitely a lot more room for acquisitions by traditional banks in fintech,” said Dan Goerlich, partner at PwC which focuses on financial transactions.

The renewed interest contrasts with previous years, when finance chiefs were reluctant to acquire companies they considered overvalued, he said.

The losses for the year were considerable. For example, shares of Affirm Holdings (AFRM.O), which offers buy-it-now and pay-later services, have fallen around 85% this year. Personal finance firm Dave Inc (DAVE.O) plunged almost 97%.

Affirm declined to comment. Dave did not immediately respond to a request for comment.

Startup founders may come under more pressure to strike deals as it becomes more expensive to run their businesses. Investors have been intensely focused on rising funding costs, Jefferies analyst John Hecht wrote in a note.

Reuters Charts

JPMorgan CEO Jamie Dimon has been warning for a decade that Silicon Valley is coming to eat the banks’ lunch. At that time, fintechs flourished as customers and businesses embraced digital financial services. Pandemic lockdowns accentuated the trend as everyone moved online. Even so, price growth has stalled this year as the economic outlook has darkened.

Aiming to meet the challenge, the largest US lender bought. In September, JPMorgan agreed to acquire Renovite Technologies Inc, a cloud-based payments technology company, the latest in a series of deals worth $5 billion over the past 18 months.

PNC Financial Services Inc (PNC.N) in September bought Lingaa fintech focused on restaurant operations and sales.

“You will see an explosion of transactions” over the next year and a half, said Michael Abbott, head of global banking at Accenture.

ON THE MENU

Large lenders have many reasons for entering into agreements. Falling fintech valuations coincide with banks earning more from traditional lending as interest rates rise.

Fintech deals may be easier to close than bank mergers, which have been delayed by regulators’ scrutiny.

“Management teams and boards have shifted some of their focus to non-banking opportunities,” said Brennin Kroog, managing director of the financial institutions group at Lazard. These include digital tools for wealth or cash management and point-of-sale financing.

Fintech deals allow banks to buy new technologies or products instead of developing them in-house. Acquisitions can also be defensive moves into other businesses outside of lending, such as travel services.

Not every seller will find a buyer. Some banks have shunned buy-now-pay-later firms, due to concerns about their loan portfolios and the possibility of regulation. Crypto providers were already seen as unattractive due to regulatory uncertainty, even before FTX collapsed.

Even with better terms, closing deals is not easy.

PNC, based in Pittsburgh, Pennsylvania, reviewed more than 50 potential acquisitions this year and finally landed on one company, CEO Bill Demchak told Reuters. However, as “valuations have come down a lot, our level of activity could be higher,” he said.

Reporting by Saeed Azhar and David French in New York; Additional reporting by Niket Nishant in Bengaluru; Editing by Lananh Nguyen and Anna Driver

Our standards: The Thomson Reuters Trust Principles.

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Treasury seeks to sell KQ to foreign strategic investor https://gametowne.com/treasury-seeks-to-sell-kq-to-foreign-strategic-investor/ Tue, 15 Nov 2022 03:27:03 +0000 https://gametowne.com/treasury-seeks-to-sell-kq-to-foreign-strategic-investor/ Companies Treasury seeks to sell KQ to foreign strategic investor Tuesday, November 15, 2022 Dr Chris Kiptoo, candidate for Principal Secretary to the Treasury, in front of MPs during the audit at County Hall yesterday. PICTURES | DENNIS ONSONGO | NMG The Treasury will seek a foreign strategic investor to buy a majority stake in […]]]>

Companies

Treasury seeks to sell KQ to foreign strategic investor


Dr Chris Kiptoo, candidate for Principal Secretary to the Treasury, in front of MPs during the audit at County Hall yesterday. PICTURES | DENNIS ONSONGO | NMG

The Treasury will seek a foreign strategic investor to buy a majority stake in Kenya Airways to return the national carrier to profitability.

Principal Treasury Secretary Chris Kiptoo told MPs the government would push for a new equity investor who should inject capital and offer management expertise in the next stage of the restructuring.

If the sale goes through, the state would reduce its 48.9% stake and reduce the ownership of lenders who converted their debt to a 38% stake.

Air France-KLM has a small stake in Kenya Airways and it remains to be seen whether the multinational, previously KQ’s reference shareholder, will sell its remaining 7.76% stake.

Kenya will favor a cash-rich foreign airline as a strategic investor in a plan that could provide the national carrier with aviation expertise and reduce its reliance on the state for operational cash.

“It is time to revamp the national carrier and ensure it continues to operate without government support. We need to bring in a strategic investor,” Dr Kiptoo told the National Assembly Finance and National Planning Committee responsible for vetting candidates for the post of Principal Secretary.

He said KQ, as the national carrier is popularly known, operated profitably when a private investor injected money and the government needed to seek out the model in an effort to bring the airline back to profitability.

In 1995 the government sold a 26% stake in KQ to Dutch airline KLM and sold an additional 22% stake to local shareholders through an initial public offering on the Nairobi Stock Exchange in 1996. The deal offered KLM seats on KQ’s board of directors, the right to appoint certain executives, including the chief financial officer, and act as a technical partner of the flag carrier.

KLM reduced its stake by 26.7% after the conversion of public debt and bank loans into equity diluted the company’s stake to 7.76%.

The multinational had expressed its desire to leave KQ when the government chose to nationalize the airline.

In 2021, KQ agreed with Air France-KLM to end a codeshare for Africa-Europe routes.

The national carrier has received multi-billion shillings bailouts from the state amid a delayed recovery from a post-Covid-19 travel slump.

The new restructuring plan comes after the state abandoned the favored long-term solution that was rooted in the nationalization of the airline.

The plan approved by lawmakers in July 2019 would have led to the airline being delisted from the Nairobi Stock Exchange (NSE).

Cabinet Secretary for Roads, Transport and Public Works, Kipchumba Murkomen, also hinted during his review of a plan to divide KQ into several subsidiaries according to its main business lines.

He gave no details on how the breakup would help turn around the carrier which has suffered losses for more than a decade. KQ’s main lines of business – freight, passengers and handling – are all in losses.

READ ALSO : Kenya Airways first-half loss narrows to 9.8 billion shillings, forecast profit in 2024

Passenger service reported an operating loss of 4.5 billion shillings, freight of 1.74 billion shillings and handling of 166 million shillings.

This marks a break with the Treasury’s previous stance of pursuing a U-turn under KQ’s nationalization plan.

A law paving the way for the nationalization of the airline, which had been proposed before the pandemic, is before Parliament.

READ ALSO : President Ruto wants Kenya Airways split after state takeover collapses

Kenya wanted to emulate countries like Ethiopia that run air transport assets – from airports to fueling operations – under one company, using funds from the most profitable parties to support others.

Under the model approved by MPs, KQ would become one of four subsidiaries of an aviation holding company.

The others would be Jomo Kenyatta International Airport, an aviation school and the Kenya Airports Authority operating all other airports.

The previous administration, which was replaced by President William Ruto on September 13, pushed for the carrier’s restructuring on the back of the multi-billion shilling bailout after the nationalization plan was scrapped. Mr Murkomen told parliament the state would not convert debt or bailout funds into equity.

“We don’t want to cross the 50% mark because we want KQ to remain a private company,” he said. “We have to wonder why KQ is in the current situation. It is because of the mismanagement of the Mawingu project, but a restructuring process is currently underway,” he said.

KQ posted a ninth straight half-year loss, pushing it 15 billion shillings into a negative capital position.

The airline, which has survived thanks to state bailouts since the Covid-19 pandemic, posted a loss of 9.8 billion shillings in August – a better performance than the loss of 11.48 billion shillings that she had recorded at the same time a year earlier.

It recorded an additional loss of 5.3 billion shillings on hedged exchange differences, bringing its total overall loss to 14.9 billion shillings.

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Crypto Investors Must Rethink Risk After FTX’s Near Collapse https://gametowne.com/crypto-investors-must-rethink-risk-after-ftxs-near-collapse/ Thu, 10 Nov 2022 18:00:00 +0000 https://gametowne.com/crypto-investors-must-rethink-risk-after-ftxs-near-collapse/ But what it does, especially in the early stages of innovation in a market, is show that companies like FTX have laid the foundation for future innovation. The FTX problem will set us back X time because they were the dominant face of crypto, but that doesn’t change the larger narrative around crypto and Web3. […]]]>

But what it does, especially in the early stages of innovation in a market, is show that companies like FTX have laid the foundation for future innovation. The FTX problem will set us back X time because they were the dominant face of crypto, but that doesn’t change the larger narrative around crypto and Web3. They were a participant of space, they are not space.

Is Zerocap exposed to FTT? [FTX’s token]?

No. In crypto, some participants push to move as fast as possible by taking as much risk as possible, and many people only consider the benefits. They do not mitigate or manage downside risk. So many years ago, we brought in people from the big institutional investment banks who saw the space and went through the different cycles, and they helped put in place sustainable risk management strategies.

As a crypto investment firm, does this change your way of thinking when it comes to managing funds or advising clients?

Yes, 100% it is. But that doesn’t change how we view the market because we were big believers in that space. But it naturally sharpens your risk management, tolerance and strategies. They had already been sharpened after the Three Arrows. It’s just a matter of ensuring that your ear is continually listening to the market and that you are in touch with your counterparties. But it certainly shakes the heart of the industry around counterparty risk.

This year, Zerocap helped launch Australia’s first bank-backed stablecoin, A$DC, with ANZ Bank. What was your role in this whole transaction?

Billionaire Binance founder CZ Zhao (right) has withdrawn an offer to buy FTX from Sam Bankman-Fried as FTX teeters on the brink of collapse.Credit:Bloomberg

We advised them on the token, we provided them with custody, a market maker and a liquidity venue service. When trading with Ethereum, which is not a regulated product, banks cannot hold spot exposure. They therefore need a counterpart capable of taking care of it.

A$DC was largely a proof of concept, but could a stablecoin like this have broader uses for Australian businesses?

When you have a bank-backed stablecoin – which is one-to-one validated, can be verified, and is from a top financial jurisdiction such as Australia – it opens up trading opportunities and liquidity in the local market. So I think it’s a natural evolution when other companies look at Web3 and native payment systems within Web3.

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Can something like A$DC co-exist with a central bank digital currency (CBDC) like the Reserve Bank is testing right now?

Theoretically, they can both exist. It can be a hybrid model, where you as an Australian resident have an account with both the RBA and the bank. So they can work together, and the RBA can even model its CBDC after a stablecoin. If there’s one on the market that works and already has proven use cases, then why not?

What other areas of the Web3 space are Zerocap interested in?

We are involved in projects to tokenize real-world assets such as stocks, bonds, and investment vehicles, as well as physical objects such as artwork, cars, land, and real estate .

On these token and NFT projects, we provide a range of services including insured custody, cash management, OTC and market making. Token projects tend to have foundations, treasuries, and DAOs looking for an institutional solution to work with. Instead of having idle funds or having to sell assets to cover expenses, we can provide structured products to carefully and sustainably monetize their cash.

I don’t think large institutions will be able to keep up with Web3, especially if they’re public companies, because it’s a complete paradigm shift. How can you allocate value to the community when your value is locked up in your shareholders?

Another stakes and becomes a network validator. Decentralization is a key philosophy of crypto, and one way to protect it is to participate as a validator. We are becoming a validator for key and upcoming blockchains to reinforce our position on the importance of decentralization at the protocol level. We are also building the infrastructure to offer this to our clients so that they too can have a positive impact on the blockchains they invest in.

How long do you think it will be until we see institutional adoption of Web3?

I wouldn’t be able to set a timeline because different institutions and different companies move at different speeds and are at different stages of the journey. Obviously for public companies it becomes much more difficult due to all the approvals that need to be obtained.

Even in large institutions, there have been a number of different use cases and proofs of concepts built over the years, but they rarely see the light of day because you have to get buy-in from stakeholders at the superior. And that’s why I don’t think big institutions will be able to keep up with Web3, especially if they’re public companies, because it’s a complete paradigm shift. How can you allocate value to the community when your value is locked up in your shareholders?

So that’s a very difficult question to answer, but I think with the speed at which the world is moving on things like CDBCs and the A$DC show, we’re headed in the right direction.

A key to widespread adoption is that the benefits of tokenization – more accessibility and liquidity in assets, the ability to fractionate ownership – are demonstrated. Then, it will also allow the blockchain and the tokens on which these assets are issued to become the underlying necessary market infrastructure.

The Business Briefing newsletter features top stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

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Program Management Office Specialist (Grants and Contracts – Due Diligence Assessment) – Myanmar https://gametowne.com/program-management-office-specialist-grants-and-contracts-due-diligence-assessment-myanmar/ Tue, 08 Nov 2022 09:50:28 +0000 https://gametowne.com/program-management-office-specialist-grants-and-contracts-due-diligence-assessment-myanmar/ Functional responsibilities Summary of main results: 2.1. Grant Management 2.2 Knowledge management and innovation 2.1 Grant Management Perform due diligence for new implementing partners, follow due diligence assessments with existing implementing partners in coordination with different subject matter experts. Ensure that the due diligence assessment is carried out on time and to the required quality […]]]>

Functional responsibilities

Summary of main results:

2.1. Grant Management

2.2 Knowledge management and innovation

2.1 Grant Management

  • Perform due diligence for new implementing partners, follow due diligence assessments with existing implementing partners in coordination with different subject matter experts.
  • Ensure that the due diligence assessment is carried out on time and to the required quality in accordance with UNOPS policies
  • Take the lead role in coordinating fraud and embezzlement cases, including journaling, preparing note for donors, verifying quarterly reports, tracking recovery and documenting all cases.
  • Ensure compliance with the sanctions list for all grants/implementing partners and maintain a tracking and screening log for all implementing partners and sub-partners,
  • Ensure implementing partner checks on OHCHR fact-finding missions and other sanctions lists, including downline partners
  • Assume lead role in risk mapping – New and existing implementing partners and sub-partners and maintain mapping log
  • Follow up with Action Plan PIs against the DDA to track progress and completion.
  • Proactively identify risk mitigation measures as part of downstream risk management.
  • Ensure that all UNOPS due diligence measures are implemented as part of effective grant management.
  • Act as the primary focal point for any risk assessment software/database to which UNOPS Myanmar may subscribe.
  • Continue to improve the existing due diligence assessment questionnaire and other tools for all funds
  • Provide support to implementing partners in strengthening documentation and processes in areas of improvement identified through due diligence assessment
  • Provide assistance to focal points and grant recipients for the timely completion of follow-up actions to due diligence assessments by implementing partners
  • Organize orientation of fund management offices and implementing partners on existing and new due diligence assessment documentation and processes.
  • Lead staff and IP training on standards of conduct, fraud prevention, etc., in coordination with relevant stakeholders.
  • Provide quality assurance on the grant and contract management cycle as assigned by the supervisor.

2.2 Knowledge management and innovation

  • Keep abreast of and incorporate latest/best practices, approaches and technologies to strengthen due diligence assessment process, approach and lessons learned.
  • Regularly update the due diligence assessment questionnaire to meet the needs of the organization in the constantly changing operating environment and associated risks.
  • Maintain close coordination with relevant forums and offices with similar due diligence assessment compliance initiatives to strengthen grant management across the MMCO and other UNOPS offices
  • Provide assistance to other UNOPS offices as a focal point for the MMCO Fund Manager on grants, due diligence assessments and compliance as required.

Education/Experience/Language Requirements

Education

  • A master’s degree in accounting, financial management, cash management, business management, business administration or related field is required.
  • A bachelor’s degree combined with 2 additional years of experience relevant to the above duties and responsibilities may be accepted in lieu of a master’s degree.
  • Certification in PRINCE2 or PMP is preferred.
  • Chartered accountant or equivalent professional qualification is an asset.

Professional experience

  • A minimum of 5 years of progressively responsible experience in compliance, fraud prevention, legal, or project management/related field in a private or public organization is required.
  • Experience in fund/contract and/or grant management operations is a distinct advantage.
  • Experience in building and leading high performing teams is an advantage.
  • A good understanding of UNOPS financial rules and regulations is an advantage.
  • Experience with Google Workspace is an asset.
  • A working knowledge of ERP and the use of electronic financial management systems is desired.

Languages

  • Full knowledge of English and the Burmese language is essential.

How to register

https://jobs.unops.org/Pages/ViewVacancy/VADetails.aspx?id=23535#7

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First National Community Bank Adds Cash Management Services | Local News https://gametowne.com/first-national-community-bank-adds-cash-management-services-local-news/ Sat, 05 Nov 2022 18:00:00 +0000 https://gametowne.com/first-national-community-bank-adds-cash-management-services-local-news/ First National Community Bank announced the launch of several new innovative cash management services in its business banking suite. It should be noted that the Bank’s Positive Pay service will automate the process of entering checks into the online banking system, which will then identify any exceptions or duplications, which will be a great tool […]]]>

First National Community Bank announced the launch of several new innovative cash management services in its business banking suite.

It should be noted that the Bank’s Positive Pay service will automate the process of entering checks into the online banking system, which will then identify any exceptions or duplications, which will be a great tool to help businesses mitigate the risk of fraud. by check and human error.

It should also be noted that the new Send Invoices and Accept Payments service will allow customers to create and deliver invoices to their customers and accept payments directly to their bank account, also helping business customers streamline processing. and enable faster access to funds while eliminating fraud and error. .

“We have seen that our corporate clients increasingly want access to their funds and real-time reporting, which increases their cash flow and mitigates the risk of fraud and human error,” said Ryan P. Earnest, President and CEO. “Through our positive invoice sending and payment and payment acceptance services, our business customers will be able to make the informed financial decisions that affect their business and provide them with an enhanced customer service experience that exceeds expectations with these and our other newly added treasury services. management service.”

First National Community Bank offers a cash management services platform to help corporate clients implement a holistic and cohesive cash management system for their business and is committed to investing in cutting-edge technology to continue to support its corporate clients as they strive to maximize their working capital and achieve the faster, more secure transactions that help grow their business.

“We are extremely excited to add these new cash management services to our corporate banking offerings,” said Michael Baker, Chief Banking Officer and President of Rome Market. “We are focused and committed to providing personalized customer service, centered on local decision-making. These new products will enable our loan production offices in Paulding County, Georgia and Chattanooga, Tennessee, as well as our 10 branch offices, to provide our business customers with the tools they need to make advance their business.

Remote deposit capture, ACH origination, swipe accounts and merchant card services complement the bank’s cash management services.

To learn more about First National Community Bank’s cash management services, visit www.fncbank.com.

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Fiscal 2022 EPS estimates for ATN International, Inc. (NASDAQ:ATNI) reduced by BWS Financial https://gametowne.com/fiscal-2022-eps-estimates-for-atn-international-inc-nasdaqatni-reduced-by-bws-financial/ Thu, 03 Nov 2022 10:16:37 +0000 https://gametowne.com/fiscal-2022-eps-estimates-for-atn-international-inc-nasdaqatni-reduced-by-bws-financial/ ATN International, Inc. (NASDAQ: ATNI – Get a rating) – BWS Financial cut its fiscal 2022 earnings estimates for ATN International shares in a research note released to investors on Monday, October 31. BWS Financial analyst H. Khorsand now expects the technology company to post earnings of ($0.21) per share for the year, down from […]]]>

ATN International, Inc. (NASDAQ: ATNIGet a rating) – BWS Financial cut its fiscal 2022 earnings estimates for ATN International shares in a research note released to investors on Monday, October 31. BWS Financial analyst H. Khorsand now expects the technology company to post earnings of ($0.21) per share for the year, down from his previous forecast of ($0.12). ATN International’s current annual earnings consensus estimate is ($0.12) per share. BWS Financial also released estimates for ATN International Q4 2022 earnings at $0.06 EPS, Q1 2023 earnings at ($0.02) EPS, Q2 2023 earnings at $0.16 EPS, Q3 2023 earnings at $0.20 EPS, Q4 2023 earnings at $0.46 EPS, and FY2023 earnings at $0.80 EPS.

Several other stock analysts have also recently commented on the stock. StockNews.com assumed coverage of ATN International shares in a report on Wednesday, October 12. They have set a “holding” rating on the stock. TheStreet downgraded the shares of ATN International from a “c-” rating to a “d+” rating in a report on Tuesday, October 11.

ATN International Stock Performance

ATN International Shares opened at $44.66 on Thursday. The company has a market capitalization of $703.98 million, a PE ratio of -22.11 and a beta of 0.30. ATN International has a 12-month low of $32.07 and a 12-month high of $50.45. The company’s 50-day moving average price is $41.32 and its 200-day moving average price is $43.26. The company has a quick ratio of 1.06, a current ratio of 1.08 and a debt ratio of 0.52.

Hedge funds weigh on ATN International

Several hedge funds have recently increased or reduced their stakes in the company. Mutual of America Capital Management LLC increased its position in ATN International by 16.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,825 shares of the technology company valued at $86,000 after buying 252 additional shares during the period. The New York State Teachers Retirement System increased its position in ATN International by 2.8% in the third quarter. The New York State Teachers’ Retirement System now owns 14,583 shares of the technology company valued at $562,000 after purchasing an additional 400 shares during the period. US Bancorp DE increased its position in ATN International by 127.0% in the second quarter. US Bancorp DE now owns 740 shares of the technology company valued at $35,000 after buying an additional 414 shares during the period. The Tennessee State Treasury Department increased its position in ATN International by 17.9% in the first quarter. The Tennessee State Treasury Department now owns 4,164 shares of the technology company valued at $166,000 after purchasing 631 additional shares during the period. Finally, Martin & Co. Inc. TN strengthened its position in ATN International by 3.1% in the 3rd quarter. Martin & Co. Inc. TN now owns 23,921 shares of the technology company valued at $923,000 after purchasing an additional 712 shares during the period. 66.46% of the shares are currently held by institutional investors.

ATN International announces a dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 7. Investors of record on Friday, September 30 received a dividend of $0.17 per share. The ex-dividend date was Thursday, September 29. This represents an annualized dividend of $0.68 and a yield of 1.52%. ATN International’s payout ratio is -33.66%.

ATN International Company Profile

(Get a rating)

ATN International, Inc, through its subsidiaries, provides telecommunications services. It operates in three segments: International Telecom, US Telecom and Renewable Energy. The International Telecom segment provides fixed data and voice; fixed, carrier, managed and mobility services to customers in Bermuda, the Cayman Islands, Guyana and the US Virgin Islands, and video services in Bermuda, the Cayman Islands and the US Virgin Islands.

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Earnings history and estimates for ATN International (NASDAQ:ATNI)

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Washington Energy and Sustainability Update — November 2022 | Mintz – ML Strategies https://gametowne.com/washington-energy-and-sustainability-update-november-2022-mintz-ml-strategies/ Mon, 31 Oct 2022 20:56:44 +0000 https://gametowne.com/washington-energy-and-sustainability-update-november-2022-mintz-ml-strategies/ Congress was on recess during October for the final push toward midterm elections on Nov. 8, but executive branch activity related to energy and sustainable development continued. Treasury and IRS seek public input on IRA tax incentives In early October, the Treasury Department and the Internal Revenue Service announced six notices seeking public input on […]]]>

Congress was on recess during October for the final push toward midterm elections on Nov. 8, but executive branch activity related to energy and sustainable development continued.

Treasury and IRS seek public input on IRA tax incentives

In early October, the Treasury Department and the Internal Revenue Service announced six notices seeking public input on key climate and energy-related tax incentives in the Inflation Reduction Act (IRA). As the Treasury noted, almost three-quarters of the IRA’s climate change investments are made through tax incentives. A fact sheet on Treasury and IRS implementation of the IRA can be found by clicking HERE.

The six notices cover energy production incentives, credit enhancements, home and building incentives, consumer vehicle credits, manufacturing credits, and credit monetization. Click on HERE to access the records.

Treasury Roundtable on Clean Energy Generation and the Inflation Reduction Act

As part of a series of events planned to solicit feedback on the implementation of the ERI, Treasury Secretary Janet Yellen joined a roundtable on October 26 focused on clean energy generation . She was joined by John Podesta, the White House’s senior adviser for clean energy implementation and innovation, as well as Treasury climate adviser John Morton and assistant secretary for tax policy Lily Batchelder. . For a playback of the event, click HERE. Future roundtables will focus on other sectors, including clean vehicles and heavy industry.

Department of Energy presents awards for home battery manufacturing

The Department of Energy announced the first round of bipartisan Infrastructure Act funding for projects to expand domestic electric vehicle battery manufacturing and the power grid and for materials and components currently imported from other countries. . Click on HERE to learn more about the selected ones.

GSA and DOE Seek Feedback on Achieving Net-Zero Carbon Buildings

For the FY23 Green Proving Ground program, the U.S. General Services Administration (GSA), in conjunction with the U.S. Department of Energy (DOE), has issued a Request for Information (RFI) on technologies that will help achieve net zero carbon buildings. RFI focuses on emerging technologies that improve operational efficiency and promote healthy workplaces, enable whole-building electrification, facilitate GHG and carbon reduction, provide generation and storage systems on-site energy management and provide electric fleet and charging management solutions. Read more by clicking HERE.

Bipartisan Opportunities in Infrastructure Law

Over the next five years, the bipartisan Infrastructure Act will establish 60 new DOE programs, including 16 demonstration programs and 32 deployment programs, and expand funding for 12 research, development, demonstration and deployment programs. (RDD&D) existing.

In November, the DOE announced the following funding opportunities:

  • Rural and Municipal Utilities Advance Cybersecurity Technical Assistance and Grant Program (Request for Information) to inform the DOE’s implementation of the Rural and Municipal Utilities Cybersecurity (RMUC) Advanced Technical Assistance and Grants Program. The objective of the RMUC program is to improve the security posture of rural, municipal and small investor-owned electric utilities through investments in operational capabilities, services, technology deployments and increased participation in threat intelligence sharing programs. Responses are expected by December 19, 2022.
  • Initial engineering design (FEED) studies for the production of critical minerals and materials (CMM) from coal-based resources (Notice of Intent) announcing an upcoming Funding Opportunity Announcement (FOA). The DOE plans to award up to $32 million with a minimum of 20% cost-sharing from awardees. The FOA is expected in the first quarter of calendar year 2023.
  • Energy improvement in rural or remote areas (Request for Information) soliciting public input to help inform DOE program implementation strategies and funding processes to support energy improvements in rural or remote areas. The Rural or Remote Energy Improvement Program is designed, in consultation with the Department of the Interior, to provide financial assistance to improve, in rural or remote areas of the United States, the resilience, security, reliability and availability of energy; and protecting the environment from the adverse effects of energy production.
  • Financing of hydroelectricity (Funding Opportunity Announcements) through three FOAs totaling more than $28 million to support research and development projects that will advance and preserve hydroelectricity as an essential source of clean energy. The financing will support the expansion of low-impact hydropower (such as retrofitting dams that do not produce electricity) and pumped-storage hydropower, the development of new pumped-storage hydropower facilities, and the engagement with key voices on issues such as hydro fleet modernization, sustainability, and environmental impacts.

[View source.]

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BankFinancial Corporation Repo – GuruFocus.com https://gametowne.com/bankfinancial-corporation-repo-gurufocus-com/ Sat, 29 Oct 2022 04:12:53 +0000 https://gametowne.com/bankfinancial-corporation-repo-gurufocus-com/ BURR RIDGE, Ill., Oct. 28, 2022 (GLOBE NEWSWIRE) — BankFinancial Corporation (Nasdaq – BFIN) (the “BankFinancial”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and a Quarterly Report Financial and Statistical Supplement on Form 8-K filed with the United States Securities and Exchange Commission (the “SEC”) today. BankFinancial reported […]]]>

BURR RIDGE, Ill., Oct. 28, 2022 (GLOBE NEWSWIRE) — BankFinancial Corporation (Nasdaq – BFIN) (the “BankFinancial”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and a Quarterly Report Financial and Statistical Supplement on Form 8-K filed with the United States Securities and Exchange Commission (the “SEC”) today.

BankFinancial reported net income for the three months ended September 30, 2022 of $3.2 million, or $0.25 per common share, compared to net income of $1.6 million, or $0.12 per share ordinary, for the three months ended September 30, 2021. BankFinancial also reported net income for the nine months ended September 30, 2022 of $7.1 million, or $0.54 per common share, compared to net income of 5 .0 million, or $0.35 per common share, for the nine months ended September 30, 2021. As of September 30, 2022, BankFinancial had total assets of $1.629 billion, total loans of $1.142 billion , total deposits of $1.425 billion and equity of $151 million.

The Quarterly Report on Form 10-Q and the Quarterly Financial and Statistical Supplement will be available today on the BankFinancial website, www.bankfinancial.com on the “Investor Relations” page and via the EDGAR database on the SEC website, www.sec.gov. The Quarterly Financial and Statistical Supplement includes performance data and comparative GAAP and non-GAAP financial measures for the past five quarters.

BankFinancial management will discuss third quarter 2022 results during a conference call and webcast for shareholders and analysts on Monday, October 31, 2022 at 9:30 a.m. Chicago, Illinois time. All participants will need to register for the conference call using the conference link below. We will also post the conference link on our website. Participant registration URL: https://register.vevent.com/register/BI61c16ffba73d41f5b2e44ffc6786d6ad

This link will direct participants to the online registration form. On the day of the call, participants will have several options to choose from: connect to the call with the number and unique passcode provided OR select the “Call me” outgoing call option to connect their phone instantly. Participants can join via computer, tablet or phone.

For those unable to participate in the conference call, the webcast will be archived until Monday, November 14, 2022 on our website.

BankFinancial Corporation is the holding company of BankFinancial, NA, a national bank providing banking, wealth management and trust services to individuals, families and businesses in the Chicago metropolitan area and on a regional or national basis for trade finance , equipment financing, commercial real estate finance and cash management professional clients. Common stock of BankFinancial Corporation trades on the Nasdaq Global Select Market under the symbol “BFIN”. Additional information can be found on the company’s website, www.bankfinancial.com.

This release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. A variety of factors could cause BankFinancial’s actual results to differ from those expected at the time of this release. For a discussion of some of the factors that may cause actual results to differ from expectations, please see BankFinancial’s most recent Annual Report on Form 10-K as filed with the SEC, supplemented by subsequent filings with the SEC. Investors are urged to review all information contained in these reports, including the risk factors referred to therein. Copies of these documents are available free of charge on the SEC’s website at www.sec.gov or on the BankFinancial website at www.bankfinancial.com. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect changes.

For more information, contact:
Requests from shareholders, analysts and investors: Media inquiries:
Elizabeth A. Doolan
Senior Vice President – ​​Finance
BankFinancial Corporation
Phone: 630-425-5568
Gregg T. Adams
President – ​​Marketing & Sales
BankFinancial, NA
Phone: 630-425-5877

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Biden Administration and Hurricane Ian https://gametowne.com/biden-administration-and-hurricane-ian/ Sun, 23 Oct 2022 12:36:00 +0000 https://gametowne.com/biden-administration-and-hurricane-ian/ Biden and Harris confuse the issue with discrimination and misinformation about climate change COURTESY PICTURESColumnist Brent Zepke criticizes President Joe Biden and Vice President Kamala Harris’ remarks on ‘the underprivileged’ and climate change after Hurricane Ian hit Florida. Mr. Zepke noted that Florida, led by Governor Ron DeSantis, and FEMA have agreed to provide aid […]]]>

Biden and Harris confuse the issue with discrimination and misinformation about climate change

Hurricane Ian’s 150 mph winds swept into Florida destroying beach towns in Lee County, leaving millions depressed and destitute, synonymous with “the underprivileged”. Were they all considered “disadvantaged” by President Joe Biden and Vice President Kamala Harris?

President Biden, as he stood in the rubble of the Fort destroyed by Ian. Myers, Florida, ignored “underprivileged” Floridians discussing the Colorado River before global warming saying, as only he could, “What the governor has done is quite remarkable so far, what he has In terms of, you know, it’s, it’s you know, first of all, the greatest thing that the Governor has done and so many others have done, they recognize what’s called the global warming.

Mr. President, the governor standing next to you is Ron DeSantis, and you should check your findings on global warming with those of your acting director of the National Oceanic and Atmospheric Administration National Hurricane Center, Jamie Rhome.

Mr Rhome told CNN: “I don’t think you can tie climate change to any particular event,” after a NOAA study concluded it was “premature to conclude with great confidence that increased human-caused greenhouse gases are impacting hurricane activity.” in the Atlantic. Environmental Progress founder Michael Schellenberger tweeted that “NOAA analysis shows there is no definitive long-term trend in hurricane frequency or increasing intensity.”

Given that the president did not discuss with hurricane victims specifics of how federal emergency management assistance would help the “disadvantaged,” what did the vice president say?

Vice President Kamala Harris, while ensconced at the DNC Women’s Leadership Forum, used FEMA to connect the president’s fixation on climate change with her administration’s fixation on systemic racism, offering this policy to FEMA: “We need to address this issue in a way that is giving resources on the basis of equity, understanding that we are fighting for equality but we also have to fight for equity. People of color would receive disaster relief before white people.

Florida Rapid Response Director Christina Preshow has said Florida will not follow the vice president’s policy, and FEMA Administrator Deanne Criswell appears set to ignore the vice president by agreeing with Christina. to follow FEMA’s mission statement, which is “to help people before, during, and after disasters such as floods, hurricanes, earthquakes, and wildfires.

Sadly, the vice president saying “people of color would get disaster relief before white people” was both a violation of her oath of office as California attorney general and a dominant theme of this administration. . Here are some other examples:

– In August 2022, the Senate endorsed Donald R. Cravins Jr. as head of the minority group that runs the Minority Business Development Agency, part of the Department of Commerce. MBDA’s website says they are “solely dedicated to the growth and global competitiveness of minority-owned businesses.” The MBDA runs grant programs, provides training programs, and assists with financing and other things only for “disadvantaged” businesses. Would all Florida businesses destroyed by Ian be considered “disadvantaged”?

Not really, because MBDA defines “disadvantaged” by race. For example, here are the races classified as “disadvantaged” and their percentages of California’s population in 2018: African Americans, 5.8%; Hispanics, 22.9%; American Indians, 0.8%; Asians 14.7%; Pacific Islanders 0.4%; other races, 5.8% and mixed, 13%.

Surprisingly, while many programs silently discriminate, the MBDA actually provides that “all white-owned businesses are presumed to be non-disadvantaged,” which in California is 37%.

Here are a few programs with the same racial definition of “disadvantaged.”

In 2021, they instituted a $4 billion farmer loan forgiveness program to help only black farmers and “other socially disadvantaged producers” with 120% of outstanding loans from the US Department of Agriculture, this which means that not only would the loans be forgiven, but the USDA would add a 20% cash kicker. Notice the use of “socially disadvantaged” instead of “enterprise disadvantaged”. A Florida judge blocked this program.

A restaurant revitalization fund has prioritized “disadvantaged” restaurateurs. The Sixth Circuit ruled that the program administered by the Small Business Administration was unconstitutionally based on race and gender.

A $9.961 billion homeowners relief fund with flexible standards for only “disadvantaged” homeowners as part of the US bailout administered by the Treasury Department.

A $37 billion infrastructure fund for “disadvantaged” federal contractors. It seems that the administration indicates that it discriminates based on race since it is she who signs these contracts.

It appears that the USDA, SBA, and Treasury Department would be practicing systemic racism had Project Equality Under Law not obtained favorable court orders, substantial programmatic change, and legislative repeal. How many other similar programs are there?

The only apparent benefit of Hurricane Ian appears to be that the Vice President’s definition of “disadvantaged” under FEMA linked the administration’s fixation with climate change, despite the findings of NOAA’s Hurricane Center, and race, although it is illegal under the Constitution. and the laws of the United States

Where is the Ministry of Justice?

The reality is that when everyone in the room is defined as “disadvantaged” except you, then you are the one who is “disadvantaged”.

Hopefully in Florida, FEMA won’t use race to prioritize aid for the “disadvantaged.” In the longer term, it seems that the needs of citizens will become at least as important as climate change, and equality can only be achieved by eliminating these leaders.

Brent E. Zepke is an attorney, arbitrator, and author who lives in Santa Barbara. His website is OneheartTwoLivescom.wordpress.com. Previously, he taught law and business at six universities and numerous professional conferences. He is the author of six books: “One Heart-Two Lives”, “Legal Guide to Human Resources”, “Business Statistics”, “Labour Law”, “Products and the Consumer” and “Law for Non-Lawyers”.

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