Transaction Exposure – Local Collectors Post Mon, 10 Jan 2022 06:55:40 +0000 en-US hourly 1 Transaction Exposure – Local Collectors Post 32 32 Indorama Ventures Public: expands its packaging activities in Vietnam and strengthens its market position in Asia-Pacific Mon, 10 Jan 2022 06:38:06 +0000

Bangkok, Thailand – January 10, 2021 – Indorama Ventures Public Company Limited (IVL), a global sustainable chemicals company announces that it is acquiring shares in Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN).

NN is one of the leading PET converters in Vietnam with long-standing relationships with major brands. It has four manufacturing sites in the north and south of Vietnam. It has a total production capacity of around 5.5 billion units of PET preforms, bottles and caps, the equivalent of a PET conversion of 76,000 tonnes per year.

Operating with high quality standards, NN is a trusted supplier of PET packaging products for major multinational and Vietnamese brands in the beverage and other beverage industries. Its business operations are led by an experienced management team with a solid knowledge of the industry as well as exposure and understanding of the local market. These competitive advantages are strategic assets for IVL and would complement the long-term growth of the company after integration. This acquisition project will strengthen IVL’s position in the packaging market in high-growth markets in the Asia-Pacific region.

Mr. DK Agarwal, CEO of the combined activities of PET, IOD and fibers at Indorama Ventures, said, “This investment opportunity is in line with IVL’s business strategy of expanding our presence in emerging economies like Vietnam. The country is positioned to be the ASEAN production hub for the Asia-Pacific region. In addition, the Vietnamese PET packaging market is expected to grow continuously owing to the strong growth in consumption and improving living standards. The proposed acquisition would foster sustainable growth in our largest business segment, Combined PET, which has grown steadily to meet growing demand globally.

The acquisition process is required to comply with the Securities Law, its governing decrees and circulars, as required by the Vietnam State Securities Commission and Hanoi Stock Exchange regulations. Through its subsidiary Indorama Netherlands BV, IVL would be required to make a public offer to purchase all the shares of NN. The transaction is expected to be finalized by the first half of 2022.

Source link

2021 has been great for the markets, but its end Omicron has set 2022 with a mixture of hope, uncertainty and apprehension for investors Sat, 08 Jan 2022 08:01:07 +0000


Last year was an improvement over 2020 in many ways.

The blow is that 2021 has failed to deliver on its promise that many hoped for around this time last year, when it was widely assumed that vaccines would get us out of the pandemic by the end of the year. .

For investors, however, 2021 has been a very good year.

The TSX Composite Index finished up about 22%. The Dow Jones Industrial Index rose about 19 percent; the NASDAQ rose 21% and the S&P 500 topped them all by 27%.

What’s in store this year is a guess, of course, but many experts see challenges in repeating the strong market returns of 2021.

?? We would be likely to see an economic transition from the rapid reopening of 2021 to a normalized economic environment, ?? says Philip Petursson, chief investment strategist at IG Wealth Management.

In turn, stock returns are likely to moderate and be much closer to the average.

This translates into expectations of single-digit percentage increases for all of the aforementioned stock indices.

This is certainly not bad news given the challenges the world is facing.

Omicron continues to set daily case records. In turn, public health measures are not going away anytime soon. Additionally, climate change is likely to bring even more forest fires, storms, droughts and floods that inevitably cause economic upheaval.

?? Yet one of the most important things for investors this coming year is inflation, ?? Ken O Kennedy, Director of Investments at Dixon Mitchell in Vancouver.

Inflation topped four percent by the end of 2021, the highest level in decades, and about double what the Bank of Canada and other central banks are targeting.

Inflation can be difficult for everyone, given that it shrinks households ?? purchasing power.

This is not that much of a problem for the stock markets, as stock prices often rise as well.

For borrowers and bondholders (i.e. lenders), high inflation is problematic because it often leads central banks, like the Bank of Canada, to raise their overnight interest rates. the day, which typically drives the cost of borrowing for consumers and businesses.

Higher interest rates inevitably increase the cost of borrowing, often slowing economic growth, hopefully just enough to cool the demand for goods and services in order to dampen the growth in the prices of those assets. and workers’ wages.

Unless there is a complete reversal of the direction of inflation, we can expect three interest rate hikes from the Bank of Canada and the US Federal Reserve in the spring, said Nathan Janzen, economist at RBC Economics.

“We kind of know the direction of interest rates, but we don’t know exactly when and how quickly they might rise,” he warns.

Still many expect the Bank of Canada to hike the rate by 25 basis points (0.25 percent) in the spring, then hike rates twice as much as ?? 25 basis points each by the next. end of the year?? one percent rate.

Even with the hikes, the interest rate would be very low by historical standards, Janzen adds.

Nonetheless, these hikes will pose challenges for cautious investors who might have 50 percent or more of their portfolios invested in bonds. The reason is that bond values ​​tend to fall in rising rate environments.

One solution is to look for “alternative sources for fixed income securities to improve returns”,? said Petursson.

The options here include private debt. These are mainly bonds, but they are not traded on the public markets and are therefore less affected by interest rate hikes.

One challenge, however, is that private debt investments are often only available to wealthier investors. That said, some mutual funds do offer exposure. Other options include holding cash-like investments (i.e., high interest savings accounts and short-term GICs). They may not offer returns that keep pace with inflation, but their values ​​are largely unaffected by rising rates.

Another strategy is to invest more in dividend-paying stocks with returns that are more likely to exceed inflation.

?? Dividends can be a very interesting source of income, ?? Petursson adds.

Yes, dividend-paying stocks continue to lose value in a bear market, he adds.

But dividend companies can ?? improve the current income for the portfolio ?? as interest rates rise, helping to offset lower yields on bond holdings, he says.

Probably the best strategy for dealing with current challenges, including inflation, is to have a diversified portfolio, says O ?? Kennedy.

?? Make sure your equity portfolio is diversified with different types of drivers, ?? he says.

Over the past couple of years, many investors have focused heavily on technology stocks, which until recently offered excellent returns. Big tech companies are likely to remain good investments in the future.

?? Amazon, for example, is a fantastic company, and it was a big beneficiary of the pandemic, ?? he adds.

?? But do you want to make sure you have the right exposure to the companies that benefit from it? a return to normal too ?? every time this happens.

One of the benefits of a diversified portfolio is that you end up owning companies that may benefit from the price hike, like Visa Inc.

As prices increase, Visa automatically earns more on each transaction. O ?? Kennedy explains, noting that the company charges fees on transactions and other services it provides to businesses.

So there really is a built-in inflation hedge.

Despite the challenges, Canada’s economy is expected to grow four percent in 2022, “a strong economic backdrop,”? Janzen said.

While there are still a lot of uncertainties, especially when it comes to the pandemic, we’ve seen this playbook before, ??? said Petursson. “So I really don’t think the pandemic will be an obstacle to economic growth. ”

Source link

Barclays lowers price target for Palomar (NASDAQ: PLMR) to $ 93.00 Thu, 06 Jan 2022 15:11:15 +0000

Palomar (NASDAQ: PLMR) saw its price target reduced by Barclays from $ 110.00 to $ 93.00 in a research note issued to investors on Thursday, Target equity advisor reports. The company currently has an “overweight” rating on the stock. BarclaysThe price target for s indicates a potential rise of 61.71% from the previous close of the share.

A number of other research companies have also recently published reports on PLMR. JPMorgan Chase & Co. reduced its price target on Palomar shares from $ 95.00 to $ 87.00 and set an “overweight” rating for the company in a research report Thursday. They noted that the move was an appraisal call. JMP Securities upgraded Palomar shares from a “market performance” rating to an “outperformance” rating and set a price target of $ 85.00 for the company in a research report released on Wednesday, December 15th. . Finally, Zacks investment research downgraded Palomar shares from a “sell” rating to a “conservation” rating and set a price target of $ 70.00 for the company in a research report released on Tuesday, December 7. Two analysts rated the stock with a conservation rating and three gave the stock a buy rating. According to MarketBeat, the company currently has an average “Buy” rating and a consensus target price of $ 82.60.

(A d)

The United States and China are fighting for new sources of lithium – the backbone of clean energy. Lithium mining operations have been declared a national emergency. Biden has ordered the United States’ lithium supply chain to be strengthened and investors in lithium exploration companies are rejoicing. We may be entering a decades-long lithium bull run. You don’t want to miss it.

NASDAQ: PLMR traded at $ 0.90 at midday Thursday, reaching $ 57.51. The stock had a trade volume of 122 shares, compared to its average volume of 124,260. The company has a market cap of $ 1.46 billion, a price-to-earnings ratio of 55.59, and a beta of – 0.06. Palomar has a twelve month low of $ 58.05 and a twelve month high of $ 115.40. The company has a 50-day simple moving average of $ 75.40 and a 200-day simple moving average of $ 79.55.

Palomar (NASDAQ: PLMR) last reported its quarterly results on Wednesday, November 3. The company reported EPS of $ 0.07 for the quarter, missing Zacks’ consensus estimate of $ 0.20 ($ 0.13). The company posted revenue of $ 67.97 million in the quarter, compared to analysts’ estimates of $ 64.71 million. Palomar had a net margin of 12.62% and a return on equity of 8.82%. In the same quarter of the previous year, the company made EPS ($ 0.62). On average, equity research analysts predict Palomar will post earnings per share of 1.98 for the current year.

In other news, CEO Mac Armstrong sold 12,000 shares of the company in a transaction that took place on Monday, October 18. The shares were sold at an average price of $ 79.05, for a total trade of $ 948,600.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible via the SEC website. Also, the President Heath a fisher sold 7,500 Palomar shares in a transaction that took place on Wednesday, October 20. The stock was sold for an average price of $ 80.76, for a total trade of $ 605,700.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 40,000 shares of the company valued at $ 3,052,990. Company insiders own 6.40% of the company’s shares.

Hedge funds have recently increased or reduced their stakes in the company. Northern Trust Corp increased its stake in Palomar by 12.6% in the second quarter. Northern Trust Corp now owns 281,391 shares of the company valued at $ 21,233,000 after acquiring an additional 31,392 shares during the period. FMR LLC increased its stake in Palomar shares by 893.6% in the 2nd quarter. FMR LLC now owns 425,527 shares of the company valued at $ 32,110,000 after purchasing an additional 382,702 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in Palomar shares in the second quarter valued at $ 996,000. LPL Financial LLC increased its stake in Palomar shares by 76.3% in the 2nd quarter. LPL Financial LLC now owns 7,683 shares of the company valued at $ 580,000 after purchasing an additional 3,324 shares in the last quarter. Finally, Man Group plc increased its stake in Palomar shares by 38.0% in the second quarter. Man Group plc now owns 58,725 shares of the company valued at $ 4,431,000 after purchasing an additional 16,174 shares in the last quarter. 89.54% of the shares are held by hedge funds and other institutional investors.

Palomar Company Profile

Palomar Holdings, Inc. operates as an insurance holding company. The company focuses on the residential and commercial earthquake markets in earthquake-prone states such as California, Oregon, Washington, and states prone to the New Madrid Seismic Zone. It offers damage insurance.

Featured Story: Stock Trading – What Are The Winning Percentages?

Equity Advisor Logo

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Palomar now?

Before you consider Palomar, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Palomar was not on the list.

While Palomar currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

Source link

Compulsory offer by CFF to Amasten shareholders – acceptance rate, including shares controlled by CFF, amounts to 92.9% of votes Tue, 04 Jan 2022 19:01:05 +0000

The Offer is not made, and this press release may not be distributed, directly or indirectly, in or in, and no offer of shares will be accepted from or on behalf of the holders in any jurisdiction in which the presentation of the Offer, the issuance of this press release or the acceptance of any offer of shares would violate any applicable laws or regulations or require registration documents, filings or other additional measures in addition to those required by Swedish law.

At 20 December 2021, Samhällsbyggnadsbolaget i Norden AB (publish) (“CFF“) announced a mandatory public offer to the shareholders of Amasten Fastighets AB (pub) (“Amasten” and the “To offer“, respectively). December 27, 2021, it was announced that CFF has expedited settlement to those who accept the Offer. The first payment of the consideration should begin on January 7, 2022 to shareholders of class A ordinary shares in Amasten who accepted the Offer no later than 3:00 p.m. CET on January 4, 2022. Until that date inclusive, the acceptances corresponding to 1.2% of the shares and the votes in Amasten have been received.

As of the date of this press release, CFF also holds 396,779,471 class A ordinary shares and 21,000 class B preference shares. This corresponds to 52.8% of the share capital and of the votes of Amasten. In addition, CFF has a financial exposure to 291,803,713 class A ordinary shares in Amasten via total return swaps (TRS) and equity loans. Taking into account the number of class A ordinary shares to which CFF has financial exposure and the number of acceptances, this corresponds to 92.8% of the share capital and 92.9% of the votes of the Amasten.

The deadline for accepting the Offer expires on January 18, 2022 at 3:00 p.m. CET. In order to allow shareholders to Amasten accepting the Offer to receive consideration as soon as possible, CFF will expedite settlement for shareholders accepting the Offer during the acceptance period in accordance with the following.

Payment of consideration is expected to begin to shareholders of Class A common shares and Class B preferred shares in Amasten having accepted the Offer no later than 3:00 p.m. CET on January 11, 2022
Ordinary payment of consideration is expected to begin to shareholders of Class A common shares and Class B preferred shares in Amasten having accepted the Offer no later than 3:00 p.m. CET on January 18, 2022

The dates indicated above apply to acceptances made by direct registered shareholders. Nominee nominee shareholders are requested to observe the instructions of each respective nominee. SBB will also continuously acquire shares on the market for a maximum of 13.30 SEK per class A common share and a maximum of 350 SEK per class B preferred share in Amasten for shareholders wishing to sell shares outside the Offer.

For more information, please contact:

Marika Dimming, Investor Relations and Sustainable Development Manager
Telephone: +46 70-251 66 89

The information has been submitted for publication, through the contact person indicated above on January 4, 2022, at 20:00 THIS.

Important information

This press release has been issued in Swedish and English. In the event of any discrepancy in content between the language versions, the Swedish version will prevail.

This press release does not constitute an offer to buy or sell shares, nor an invitation to offer to buy or sell shares.

The Offer, under the terms and conditions presented in this press release, is not made to persons whose participation in the Offer requires the preparation of an additional registration document or the registration carried out or that any other measure or taken in addition to those required under Swedish law.

The distribution of this press release and any related offering material in certain jurisdictions may be restricted or affected by the laws of those jurisdictions. Accordingly, copies of this communication are not and should not be posted or otherwise transmitted, distributed or sent in, to or from any such jurisdiction. Therefore, persons who receive this communication (including, without limitation, agents, trustees and custodians) and who are subject to the laws of such jurisdiction should inform themselves of and comply with any restrictions or requirements. applicable. Failure to do so may constitute a violation of the securities laws of such jurisdiction. To the fullest extent permitted by applicable law, SBB cannot be held liable for any violation of such restrictions by any person.

This press release does not constitute an offer to sell securities in United States. The Offer is not made, and this press release may not be distributed, directly or indirectly, in or in, and no offer of shares will be accepted from or on behalf of the holders in any jurisdiction in which the presentation of the Offer, the issuance of this press release or the acceptance of any offer of shares would violate any applicable laws or regulations or require registration documents, filings or other additional measures in addition to those required by Swedish law.

The Offer, information and documents contained in this press release are not made and have not been approved by a person authorized for the purposes of article 21 of the UK financial services and the Markets Act 2000 (the “FSMA”). The communication of the information and documents contained in this press release is exempt from the restriction on financial promotions under Article 21 of the FSMA on the grounds that it is a communication by or on behalf of a legal person that relates to a day-to-day acquisition transaction controls the day-to-day affairs of a legal person; or to acquire 50 per cent or more of the shares with voting rights in a legal person, within the framework of article 62 of the UK financial services and the Procurement Act 2000 (Financial Promotion) Ordinance 2005.

Statements in this press release regarding future status or circumstances, including statements regarding future performance, growth and other trend projections and other benefits of the offering, are forward-looking statements. These statements can usually, but not always, be identified by the use of words such as “anticipates”, “intends”, “expects”, “believes” or similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by such forward-looking statements due to many factors, many of which are beyond the control of CFF. Such forward-looking statements speak only as of the date on which they are made and SBB has no obligation (and assumes no obligation) to update or revise any of them, whatsoever. either as a result of new information, future events or otherwise, except in accordance with applicable laws and regulations.

Samhällsbyggnadsbolaget i Norden AB (publ) (CFF) is the main real estate company in the Nordic region in the field of social infrastructure. The Company’s strategy is to own and manage long-term social infrastructure properties in the Nordic countries and to lease residential properties regulated at Sweden, and to work actively with real estate development. Thanks to SBB’s commitment and commitment to community participation and social responsibility, municipalities and other stakeholders see the company as an attractive long-term partner. The Company’s Series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on the Nasdaq Stockholm, Large Cap. Further information on SBB is available at—the-acceptance-rate– including- actions -control, c3481564

(c) Decision 2022. All rights reserved., source Press Releases – English

Source link

Bruce Springsteen leads aging rockers in race for music rights Sun, 02 Jan 2022 13:10:00 +0000

Fans of Bruce Springsteen who were treated to a special set in New York last month were unaware of the defining moment for their offstage career.

Bruce Springsteen signed $ 500 million deal with Sony for the royalty rights to his many hits

© Provided by The Telegraph
Bruce Springsteen signed $ 500 million deal with Sony for the royalty rights to his many hits

Just a day after joining Steve Earle and The Dukes for a charity performance, The Boss unveiled a $ 500million (£ 369million) music rights sale that cemented his place in the rock pantheon.

By transferring his main recordings and publishing rights to Sony Music, the singer behind landmark albums such as Born to Run and The River sealed the biggest ever sale of an artist’s work.

For those in the music industry, the deal came as no surprise. It was simply the last in a multitude of agreements for artist and producer royalties which helped the value of music mergers and acquisitions reach record highs in 2021.

Almost $ 13 billion (£ 10 billion) was spent last year, up from $ 5 billion in 2020 according to data from MIDiA Research, with the boom set to continue as private equity and funds pensions accumulate.

Huge transactions are an example of supply and demand working in perfect harmony. Greedy Music Investment Fund transform the tubes of yesteryear into a new asset class have roamed the market as they seek to capitalize on the consistent returns provided by music streaming.

Meanwhile, the pandemic-induced ban on live music, the prospect of an increase in the U.S. capital gains tax on sales of song rights over $ 1 million, and the The meager income that some artists make from streaming compared to traditional records has prompted many to cash in.

Hipgnosis, the fund listed in London, spearheading by former Elton manager John Merck Mercuriadis, obtained the musical rights to Shakira, Red Hot Chili Peppers and Bon Jovi.

Bob Dylan sold his catalog to Universal Music, while BMG, the record company owned by Bertelsmann, bought Tina Turner’s back catalog in October. This coup was quickly followed by a $ 150 million royalty deal for the song by heavy metal band Motley Crew.

the estate of David Bowie, valued at over $ 200 million, could be next to watch as Warner Music looks through Thin White Duke’s catalog of compositions.

MIDiA analyst Kriss Thakrar says a new round of investment is now brewing to target the successes of the past few days.

“There’s an investor talk that streaming creates this resurgence of revenue for classic hits, which is why many of the bigger deals are with older rock artists, as a lot of the demand is competing for. the same offer, ”he adds.

“However, there are many more modern catalogs that have a lot of unrealized potential in the pop, hip hop and R&B space.”

Private equity also hopes to take a share of the long-term, stable returns provided by songbooks in. an era of low interest rates.

Music to the ears of investors

But the huge sums of money at hand in the industry have only made it so far. While buyout barons across the world are believed to have over $ 1 trillion (£ 740 billion) in dry powder, they lack the industry contacts necessary to put that money in. to profit.

Video: Bruce Springsteen Enjoys Music Discography (Cover Video)

Bruce Springsteen enjoys musical discography



The web of connections woven by Mercuriadis while the boss of Sanctuary Records gave him a head start. Not only does he know which artists are willing to give up their rights, but they trust him to protect their heritage.

These obstacles have prompted private equity to partner with record companies and music investment funds instead of going to war with them.

BMG, the label behind Nirvana and Kylie Minogue, partnered with KKR in March. Both sides benefited: BMG got more financial firepower, while the buyout giant was more exposed to rights deals.

And they are not alone. Mercuriadis partnered with Blackstone to invest $ 1 billion in music rights which will see the fund co-invest with Hipgnosis.

Merck Mercuriadis (left) launched Hipgnosis on the London Stock Exchange in 2018 with co-founder, musician Chic Nile Rodgers - Anna Watson / Alamy Live News

© Provided by The Telegraph
Merck Mercuriadis (left) launched Hipgnosis on the London Stock Exchange in 2018 with co-founder, musician Chic Nile Rodgers – Anna Watson / Alamy Live News

With pension funds also set to start entering the market, more co-investment partnerships are expected in 2022 as the asset class matures.

Mercuriadis explains why music investment funds have gained the upper hand so far: “What separates us from almost all of our competitors is our access and our relationships with the world’s greatest songwriters.

“As a result, approximately 70% of our transactions are private off-market transactions for which we do not compete. “

The marriage of such expertise with vast walls of capital will intensify competition, causing valuations to soar. This decision should accelerate the evolution of the music investment market, causing the emergence of more financial products related to music.

Speculation is already mounting that musical bonds could make a significant comeback almost 24 years after Bowie securitized the rights to his royalties.

The return of Bowie bonds?

These financial products – known as Bowie Bonds – were linked to the American rights of the singer of Let’s Dance, and offered a fixed annual return of 7.9% over 10 years.

With Kings of Leon also selling their latest album When You See Yourself as a Non-Fungible Token (NFT), the cash-out opportunities multiply.

Mark Mulligan, Managing Director of MIDiA, believes all the ingredients are in place for another royalty investment boom this year.

“We have a constrained supply market and increased demand for all of these funds that have raised funds that they are going to deploy,” he said.

“This means that prices will go up, that there will be increased competition and that what happened in 2021 will continue until 2022. You will likely see increased sophistication in the segmentation of the market, with many products. derivatives and financials.

“We’ll see the same happen to music as an asset class, as we’ve seen happen to other asset classes. More large funds – like pension funds – will also look to add music to their wallets. “

Conditions like this suggest Springsteen won’t have to wait long before his deal is scrapped by another huge investment.

After all, the singer is just one of many aging rockers who contemplate their legacy as the streaming revolution gathers pace.

Many will be reassured to know that their hits will remain popular long after their passage.

And it is for this reason alone that the money for music rights is unlikely to dwindle anytime soon.

Sign up for the Free Front Page newsletter: your essential guide to The Telegraph’s daily agenda – direct to your inbox seven days a week.

Source link

Fintech and automation among the hottest tech trends of 2022 Fri, 31 Dec 2021 20:56:16 +0000

Photo by Philipp Katzenberger

The second year of the pandemic, 2021 has been eventful as new security threats have emerged and technological breakthroughs have been made. Yet other changes are underway. By 2022, IT and security professionals must be prepared for everything to come, from advances in integrated finance to growing issues of consumer data privacy to data breaches due to data breaches. API leaks.

This is the clear message from Nathanael Coffing, CSO and co-founder of Cloudentity, to Digital journal readers. Coffing identifies four important trends that are expected to occur in 2022. He defines them below.

Integrated finance will revolutionize the tech industry in 2022

For the 2021 main development in the sector, Coffing says, “Integrated finance has quickly become the hottest topic in financial services and the tech industry. Integrated finance provides the “why” by leveraging the “how” capabilities of Open Banking. Businesses that are not financial service providers use built-in financial application programming interfaces (APIs) to deliver financial tools or services, such as loans or payment processing. It is designed to streamline consumers’ financial processes, making it easier for them to access the services they need, when they need them. For example, built-in loans allow someone to apply for and get a loan right at the time of purchase, as we’ve seen with Klarna and AfterPay. The two companies are partnering with retailers to allow consumers to split an online purchase into multiple smaller monthly payments. “

As for what will happen next, Coffing notes, “Given its potential to create new lines of business and efficiency for customers and businesses, many leading financial and technology services companies are implementing implementing major integrated financing initiatives. Google Pay, for example, has already made big investments to manage its integrated financial capacities. For these reasons, there will be massive growth in integrated finance over the coming year. “

Strict regulations will be essential to ensure the protection of consumer privacy

Privacy is set to become an issue, says Coffing, noting, “Today’s consumers demand more control over their data online and how it is used by businesses. While government regulators enforcing privacy laws such as the GDPR, CCPA and ACPL are a step in the right direction, there is still a lot to be done to protect consumer privacy and this must start when ‘registration and continue via API-based data sharing. Every website or application should display an icon (similar to SSL) as soon as a user opens the page that rates the certifications that the company meets to protect its customers’ data.

“These need to be written in a way that is also easy for consumers to understand – without hiding behind confusing legal jargon. Then organizations will have no choice but to be transparent about how they collect, use and share their users’ data. The icon should provide consumers with the ability to control their privacy settings at the attribute level, control their sharing of this attribute, and delete their data once they are done with the website / app, so that the user remains in control of their personal information at all times. . “

Tokenized Identity to Become an Important Method to Mitigate API Data Leaks and Compromised Tokens

Coffing examines the rise of digital ledgers: “Tokenization has become a key method for businesses to strengthen the security of credit card and e-commerce transactions while minimizing the cost and complexity of complying with corporate standards. industry and government regulations. Shifting that same per-transaction security capability to Personally Identifiable Information (PII) can dramatically reduce an organization’s attack surface. Today, most organizations maintain perimeter-based security for their distributed applications in passing Rich overprivileged JSON web tokens (JWT) to any service that requests it.

“However, with the rise of third-party developers and B2B2C business models, cyber attackers need only find the weakest link to start compromising millions of PII records.

A notable example of this happened last year when cybercriminals registered a malicious application with an OAuth 2.0 provider, which generated authorization tokens. If the user accepted and used the token, the attacker could gain access to their mail, transfer rules, files, contacts, notes, profile, and other sensitive data and resources. In 2022, we will start to see very short tokenization and expiration times for tokens to prevent these types of attacks. “

Automation is key to mitigating the growing number of API attacks due to the growing attack surface

For 2022, automation will be more important. Coffing notes, “The number of API attacks will continue to increase as API usage continues to grow exponentially. Indeed, every API and developer is another potential entry point for cyber attacks. The 2021 Status Report on API Security, Privacy and Governance found that over the past year, at least 44% of companies have experienced significant privacy issues, data leaks and exposure of object properties with internal or external APIs. As a result of these issues, 97% of organizations experienced delays in releasing new apps and service enhancements due to identity and authorization issues with APIs and services.

Coffing adds, “To mitigate this looming threat, IT and security teams need to better protect the business by ensuring that APIs are discovered and that the right security safeguards are in place for each API. Given the rapid spread of APIs, automation is becoming the defining requirement to embed the principle of least privilege and zero trust in your APIs. It starts by adding the machine identity, the workload identity and correlating them with the identities of the requesting users to allow mutual authentication. Once every entity in a transaction is authenticated, declarative authorization becomes the next logical step in providing developers with the tools they need to comply with security requirements. Appropriate security measures cannot be implemented for every identity with manual encryption, especially when machine and API transactions are so fast and time-consuming.

Source link

Alleged culprit of BancABC’s Crazy Prepaid Visa crash now in court Thu, 30 Dec 2021 08:09:09 +0000

Remember at the end of October, when BancABC’s Visa prepaid card was down for everyone and for days on end? The failure that blocked all those who used the card at home and abroad? Well, it looks like the authorities found the person behind it. According to a ZimLive report, Malvin Kudakwashe Serima appeared in court yesterday in connection with a US $ 120,000 money laundering scheme.

This suspicious transaction would have been the reason BancABC had to shut down its service for days and it was not only in Zimbabwe but also in other territories.

According to the National Prosecution Authority, Serima opened two Visa accounts which he then deposited $ 10,000 in the first and $ 110,000 in the second. Serima would then have transmitted the identification numbers to two accomplices Talent Kamupupu and Paminous Mutengwa. The two, who are apparently in Ivory Coast, then withdrew US $ 8,400 from the first card and US $ 9,530 from the second from vending machines.

“Both transactions were cash withdrawals from ATMs, a trend synonymous with money laundering,”

Thomas Chanakira, prosecutor (via ZimLive)

This series of transactions was reported by the risk department of BancABC who relayed the situation to Visa and the Reserve Bank of Zimbabwe. BancABC allegedly found 11 cards used for suspicious transactions, all allegedly linked to the same group of its customers.

The remainder of the deposited amount was frozen by Visa International and BancABC Zimbabwe CEO Dr Lance Mambondiani said the following

“We first needed to determine how far the exposure extends, because we have banks in six countries, all of which sit on the same VISA platform. We are quietly satisfied to have identified the weakness of the system and hope that by working with VISA International, we will be able to restore the cash withdrawal service in the coming weeks ”,


Hopefully this won’t be an attack on less stringent KYC requirements for accounts.

How Serima was able to open two Visa Prepaid cards and not raise suspicion on BancABC’s internal systems is very strange. Moreover, how these large deposits were not immediately reported or monitored is also puzzling. Moreover, the chain of events until the two accomplices managed to withdraw the funds more than seven thousand five hundred kilometers away is a mystery which was not revealed in the report.

The prosecutor in the case spoke about the nature of BancABC’s KYC requirements for its prepaid visa.

“Thomas Chanakira, for the prosecution, said Serima had opened two VISA card accounts with the bank which have a lower threshold for know-your-customer rules as they are prepaid.”


The card is a fantastic facility for those wishing to access international services, the fact that the barrier to entry is low is great as it allows more Zimbabweans to participate in international trade.

In addition, ZIMRA already collects VAT and other taxes on transactions made by these cards like Netflix, Spotify, Facebook Ads payments, etc.

The problem, at least in my opinion, is the internal systems at BancABC that Dr Mambondiani admitted and said they would work on. Things like multiple accounts should be pointed out early on and further consideration should be put on that, not necessarily on the low barrier to entry. Conventional Nostro accounts are not completely immune to fraud and other illicit activity, so the solution should be to tighten up the back end, not the way customers can access prepaid USD cards.

Fast NetOne, Econet and Telecel airtime recharge

Source link

Energy majors and activist investors Tue, 28 Dec 2021 14:03:48 +0000

Activist investors have made headlines in recent months with calls to dismantle major energy players – but will this help or hinder their energy transition efforts?

Whether it is Equinor, a newly renamed TotalEnergies or an electricity producer like RWE, the large integrated energy companies have positioned themselves at the center of the energy transition. Their argument is that their diverse background and significant track records can help finance and deliver the massive overhaul of the global energy system needed to reduce emissions and meet net zero goals.

However, against this narrative, some investors have argued that a greater strength lies in building clean energy and transition companies, by simplifying their offerings.

In September, hedge fund Elliott Management acquired a stake in producer and grid operator SSE, prompting reports it was pressuring SSE to turn its renewable energy business into a separate entity.

Although the suggestion was dismissed by the management of the London-listed group, the fund doubled in December, publish a letter alleging that SSE’s renewable energy and grids business would be worth £ 21 per share and could unlock ‘£ 5bn of value’ via separate listing.

“A separation would resolve the long-term funding issues that have historically hampered SSE’s growth,” he argued, and asked the company to explore other strategic initiatives.

Meanwhile, in October, activist investor Third Point filed a similar claim with Shell, having racked up a $ 750 million stake in the publicly traded supermajor, which equates to roughly 0.4% of the company. .

In a letter to investors ahead of the company’s quarterly results, founder and CEO Dan Loeb said the company would benefit from separating its liquefied natural gas (LNG), renewables and marketing businesses into a stand-alone, separate unit. of its refining, upstream and chemicals activities. Business.

He argued that in the effort to finance both fossil fuel activities and the energy transition, Shell could not appeal to all investors, leading to “a set of inconsistent and contradictory strategies attempting to appease multiple interest but not satisfying any ”.

In response, the two companies argued that splitting their respective businesses would increase costs and reduce their ability to support large renewable energy and energy transition projects.

Shell CEO Ben van Beurden fired back, detailing the company’s “incredibly cohesive strategy” and adding that “a very important part of this energy transition is going to be funded through the historic business,” while the chief executive financial Jessica Uhl said that a spin-off the business “looks really interesting from a financial point of view – it’s pure play, it has a cost of capital,” but the suggestion “crumbles” when ‘it’s about implementing real solutions.

SSE CEO Alistair Phillips-Davies took a similar stance in response to Elliott’s approach, saying, “Size is very important… if you are half the size you will only get the size. half of the funding. “

© Provided by Bloomberg
Ben van Beurden, CEO of Royal Dutch Shell Plc, speaks during a session on the second day of the Web Summit in Lisbon, Portugal, Tuesday, November 2, 2021.

Pure advantage?

This is not to say that such fallout could not occur. There are of course precedents for this type of transaction, such as the Uniper / E.ON split observed in the European electricity sector, and the transformation of Danish DONG Energy into Ørsted.

“From an investor’s perspective, conventional financial theory suggests that pure play is better because it allows individual investors to assemble their preferred exposure. Reality is more complicated, ”a spokesperson for the strategic advisory group Gneiss Energy Explain.

“Different parts of these businesses have different cost of capital and cash flow profiles. Part of Shell’s argument is that cash flow from its conventional operations can help finance growth towards cleaner energy.

“The counter-argument is that green activity perpetuates the underlying oil and gas activity – and only time will tell,” they added.

In Shell’s case, financial think tank Carbon Tracker argues that Third Point’s proposal is “Unlikely to improve long-term shareholder value, to lower the cost of capital or to stimulate more investment in decarbonisation.

He adds that even if there were more investments in a new unit of pure play renewable energy, the role of LNG in this new entity would be questionable. “Meanwhile, the rump sector may become less prone to decarbonize. “

In addition, it raises the question of who should deliver the major energy transition projects, if not larger integrated companies such as these.

“If Shell and SSE are not in charge of these projects, it will be left to foreign or private companies that do not have the same skills, balance sheets and responsibilities,” noted Ashley Kelty, senior research analyst for petroleum and oil. gas at the investment bank Panmure Gordon.

“The majors, as publicly traded companies, can be scrutinized and held accountable for their issues – surely a good thing? “

“Foolish and short-sighted”

The Gneiss spokesperson also highlighted the existing benefits of integration from an ESG perspective, as many investors are allowed to hold stakes in oil and gas businesses as part of their commitments to responsible investment because of the green companies attached to it.

“In a disruption scenario, they could be forced to give up the oil and gas part and lose a significant part of their portfolio,” Gneiss explained.

He cites ESG funds, such as Blackrock iShares Core FTSE 100 UCITS ETF, which includes both BP and Shell in its main holdings. “If they were to create their businesses greener, funds like this could only contain the green part,” they added.

The current emphasis on energy demergers can therefore be as much a question of financial trends as a supposed belief in the conduct of the energy transition. “Calls to combine and / or separate, like so many others in financial markets, come in cycles,” said the spokesperson for Gneiss, making comparisons with similar calls to companies integrated in other sectors, such as Johnson & Johnson, GE and Toshiba. .

Carbon Tracker suggests that this recent surge may be emblematic of ‘polarization’ in the asset management industry, highlighting tensions between investors comfortable with the long-term transition and those who may be ‘impatient. With the time and cost to get there – not to mention a few short-term opportunists.

Gneiss also alluded to it, noting the “very specific dynamic” of investments in the energy transition. “The time horizons of hedge funds are suitable for short-term revaluation and may not value the longer-term ability to deliver the multibillion-dollar projects over the next decades that are needed to meet climate goals,” he said. declared his spokesperson.

“There will be success stories among those who go their separate ways, but that is far from certain.”

Mr. Kelty was even more firm: “Anyway, breaking the majors is stupid and short-sighted. This will not create long-term shareholder value and hinder the chances of achieving the net zero goal on time. “

Recommended for you


Big choices for big oil as energy transition sets the tone for 2022, according to Woodmac

Source link

Banks should encourage forex deposits: analysts Sun, 26 Dec 2021 22:03:32 +0000

The Chronicle

Sikhulekelani Moyo, business journalist
The financial services industry should provide a package of incentives and improve customer services to encourage the public to deposit their foreign currency, economic analysts said.

Citing the wave of armed robberies involving large sums of foreign currency suffered during the year, analysts said these revealed the public’s lack of confidence in the formal banking system.

The risk of exposure to theft attacks is high once thieves know that the money is kept in the home or on business premises.

Association for Business in Zimbabwe (ABUZ) managing director Victor Nyoni said the banking industry should be concerned about these thefts and find ways to attract deposits.

He blamed the high costs of bank charges and poor customer service for frustrating potential forex depositors.

When people deposit their money in banks, it builds public and business confidence in the formal system and helps money flow through the economy.

“High bank charges and taxes are the issues that cause people to choose to keep their money at home or at their business premises, which makes them targets for armed robbery,” Nyoni said.

He said the problem of long queues at banks also discouraged companies from putting their money in the bank. “Can you imagine spending five hours in a queue to withdraw wanted money for business transactions that day? ” he said.

Instead of frustrating customers, Nyoni said, banks should come up with incentives that attract deposits.

“In the ’80s and’ 90s deposits earned interest, but that is no longer the case despite the fact that banks make huge profits from people’s money every year. Instead, depositors are charged to keep their money in the bank, ”he said.

Mr Nyoni said allowing depositors to get loans from their bank could be an incentive that encourages people to deposit their money.

He said banks should also share with depositors the interest they receive from loans, because the money they advance to individuals or businesses in the form of loans is depositors’ money.

Zimbabwe generates more foreign exchange through exports, income from diaspora remittances and support from development partners covering different projects, which is expected to reach $ 7 billion this year.

Although the government has allowed dual transactions involving both local currency and forex, there are concerns that some businesses, mainly those operating in the informal sector, will cash in forex products.

Bulawayo banking expert and businessman Mr. Morris Mpala said it was almost impossible for such players to deposit their forex.

He said that these businessmen are aware of the problems of wanting to withdraw their money, which is why many of them keep it in their homes.

“If you calculate the fees, which include the 2% tax, 2-3% transaction costs and other fees, that depositors face, that’s a lot of money,” Mpala said. .

He said many businessmen therefore opt for “home banking” which is uncertain as they are vulnerable to theft.

Mr Mpala said that the banking public has always expressed contempt for the inconvenience encountered in terms of withdrawal limits, whereby a person cannot withdraw the desired amount at any given time.

“As a businessman you may need to restock, but banks have a withdrawal limit, which ends up getting in the way for businesses. Therefore, home banking is considered the best, ”he said.

Contacted for comment, a Metbank banking official who preferred anonymity acknowledged the concerns but said the public should not fear the unknown, saying not all banks have problems.

“Some banks have very good service and I encourage people to compare the services in order to get the best deals,” he said.

The Reserve Bank of Zimbabwe (RBZ) has ordered banks to pay interest on savings and term deposit accounts. – @ Sikhule-kelaniM1.

Source link

Forget the Meme Coins: Here are 3 Cryptocurrencies you’ll be confident to buy for the long term Fri, 24 Dec 2021 21:00:00 +0000

Image source: Getty Images

The cryptocurrency industry is well known to be very volatile. This has been the case for years, and even recently, as volatility has become less severe, there is still the possibility that assets will lose a significant fraction of their value in a matter of hours. Despite this downside of the cryptocurrency industry and all the speculation that occurs with coins, it is also well known for providing investors with incredible opportunities to earn significant returns.

However, some investors were drawn to the space with an interest in high risk coins, such as Shiba inu and Dogecoin.

The problem is that the industry is already very volatile. This therefore makes speculation in already very risky cryptocurrencies even more dangerous.

Instead of speculating on very risky assets, the best way to invest in cryptocurrencies is to find high potential projects that you can confidently own for the long term. There is already a ton of potential to earn massive returns. So, you don’t have to speculate on very high risk assets to give yourself a chance to earn these incredible returns.

Therefore, if you want to get more exposure to cryptocurrencies, I would forget about the coins itself. Instead, here are three of the best investments you can make today.

I would look to buy high quality Ethereum substitutes rather than meme coins

One of the best investments you can make right now is in Ethereum compatible blockchains. Until Ethereum can finally implement its upgrades in 2022, and it finally costs less Ether (its native token) every time you want to trade, Ethereum surrogates will continue to do so. ‘provide incredible opportunities.

One of the best cryptocurrencies I could recommend to investors is AVAX, the native token of the avalanche blockchain.

The coin is already seeing a strong rally, as the Avalanche blockchain continues to grow in popularity. And in recent weeks, Avalanche has passed the same two coins, Shiba Inu and Dogecoin, to enter the top 10 cryptocurrencies by market cap.

So, as the cryptocurrency industry continues to gain popularity and investors are drawn to the exciting innovations, such as Challenge, Avalanche is expected to continue to grow in popularity.

Hence, I would forget to speculate in coins and find high quality investments like Avalanche that you can confidently own for years to come.

Exchange tokens can also be great investments

As the industry continues to gain popularity, naturally more and more investors will be drawn to the space. This means that the popularity of exchange and integration platforms will continue to grow.

So, another great investment to consider are tokens from popular exchanges or cryptocurrency platforms, such as the piece of money CRO, which has appreciated in value extremely rapidly over the past few months to become the 15th most popular cryptocurrency.

Another great option would be the Binance BNB coin, which has long been the third most valuable cryptocurrency and continues to rally as more investors use Binance’s smart chain.

I had recommended CRO to Dogecoin just over a month ago, and since then CRO has gained around 5% from selling in the cryptocurrency sector last month, while coins even like DOGE have done much worse. During this period, Dogecoin has lost almost 20% of its value.

These popular exchanges native tokens are rallying because they have many more use cases for investors. Therefore, the demand to buy these cryptocurrencies will continue to increase over time.

So, rather than speculating on coins with few use cases, I would look for high quality cryptocurrencies that you will be happy to own for years to come.

Source link