Finance

Shift to Add Three Senior Executives with Finance, Product, and Marketing Experience at leading companies to its Board of Directors

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SAN FRANCISCO, Sept. 10, 2020 /PRNewswire via COMTEX/ —
SAN FRANCISCO, Sept. 10, 2020 /PRNewswire/ — Online used car marketplace Shift Technologies Inc. (“Shift”) today announced new additions to its planned public-company Board of Directors following the approval and completion of its pending merger with Insurance Acquisition Corporation (INSU). Victoria McInnis, Kellyn Kenny, and Adam Nash (who became a Director in May) will join Shift’s existing directors Emily Melton, Manish Patel, Jason Krikorian, as well as Shift’s Co-CEOs Toby Russell and George Arison on the Board. All three are former executives of global consumer companies including General Motors, Wealthfront, and Capital One.

“The addition of Victoria, Adam, and Kellyn is a huge win for Shift as each brings enormous talent, intelligence and breadth of experience at a critical time in our growth,” said Shift co-CEO George Arison.

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Germany’s Scholz eyes more debt to support recovery from coronavirus

BERLIN (Reuters) – The German economy is recovering from the coronavirus shock and will reach its pre-crisis size at the beginning of 2022 at the latest, Finance Minister Olaf Scholz told Reuters on Monday but he added more debt was needed to sustain the achieved progress.

The COVID-19 pandemic plunged Europe’s largest economy into its deepest recession on record in the first half of the year. Berlin unleashed an unprecedented array of rescue and stimulus measures, financed with record new borrowing of some 218 billion euros, to help companies and consumers get out of the crisis.

“We see that the economic recovery is making headway. That’s a good sign,” Scholz said in the Reuters interview, adding that the economy could also be back to pre-crisis level before 2022 if the recovery was supported in the right way.

Scholz said he was therefore planning to take

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Have Insiders Been Buying Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Shares?

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sell Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI), you may well want to know whether insiders have been buying or selling.

Do Insider Transactions Matter?

Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.

Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard University study found that ‘insider purchases

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Minnesota Housing Finance Agency — Moody’s assigns Aa1 ratings to MN Housing Resi. Hous. Fin.Bds 2020 F&G; outlook stable

Rating Action: Moody’s assigns Aa1 ratings to MN Housing Resi. Hous. Fin.Bds 2020 F&G; outlook stable

Global Credit Research – 02 Sep 2020

New York, September 02, 2020 — Moody’s Investors Service has assigned Aa1 ratings to Minnesota Housing Finance Agency’s (Minnesota Housing or MHFA) $16 million Residential Housing Finance Bonds, 2020 Series F (AMT) and $109 million Residential Housing Finance Bonds, 2020 Series G (Non-AMT). We are also maintaining all Aa1 ratings on approximately $1.7 billion of outstanding Residential Housing Finance Bonds (RHFB or Program) parity debt. The outlook is stable.

RATINGS RATIONALE

The Aa1 rating assignment is based on the general obligation pledge of Minnesota Housing Finance Agency (Aa1/Stable) with further support from the pledged assets, and the financial performance of the RHFB program.

We regard the coronavirus (COVID-19) outbreak as a social risk under our ESG framework, given the substantial implications for public health and safety. The

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Grace Crickette named UW-Eau Claire vice chancellor for finance and administration

EAU CLAIRE, Wis. (RELEASE) -Grace Crickette, who has financial experience in both the Wisconsin and California higher education systems, has been named vice chancellor for finance and administration at the University of Wisconsin-Eau Claire.



a sign on a brick building: WEAU


© Provided by La Crosse-Eau Claire WEAU
WEAU

Crickette has been vice chancellor for administrative affairs, chief business officer and ethics officer at UW-Whitewater since 2017. She will begin work at UW-Eau Claire on Sept. 21.

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“We are fortunate to add a leader like Grace to our team,” Chancellor James Schmidt says. “Not only does she have extensive experience in finance in higher education, she understands our mission and shares our commitment to always put UW-Eau Claire students first.”

Crickette will replace John Haven, who left UW-Eau Claire in August to become vice-president/chief budget officer for business and finance at the University of West Georgia.

Crickette says she is honored to be the new

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How Ethereum’s DeFi Darling YFI Reached $1 Billion In 2 Months

Yearn.finance’s native governance token, YFI, is now the second-biggest decentralized finance (DeFi) coin in the cryptocurrency market. Its market capitalization has surpassed $1.1 billion just one and a half months after its launch.

Four major components contributed to the rapid success of yearn.finance: unique supply, an active community, a respected developer, and innovative products.

Unique Supply, No Premine, Decentralized

The process of yearn.finance’s launch garnered the attention of many DeFi enthusiasts since the beginning. 

Andrew Cronje, the main developer behind yearn.finance, rebranded, and relaunched iearn.finance with a suite of products. Cronje released YFI with no premine, a fixed supply of just 30,000 tokens, and no founder reward.

The transparent and decentralized launch of yearn.finance, which also gives YFI token holders all the governance rights, made the DeFi protocol unique. 

“The lead developer behind

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Thai PM says finance minister’s surprise exit won’t impact policy

By Chayut Setboonsarng and Orathai Sriring

BANGKOK (Reuters) – Thailand’s prime minister said on Wednesday there would be no impact on economic policies and plans from the sudden resignation of the finance minister, whose replacement will be made at an appropriate time.

“If there is no minister, then there are deputies and assistants,” Prayuth Chan-ocha told reporters. “I also drive the policy myself as head of the economic team.”

His comments come a day after the surprise resignation of Predee Daochai, who quit after less than a month in office.

Prayuth said the replacement for Predee, who resigned due to health reasons, would be announced at an “appropriate time” and he saw no impact on confidence from his exit.

Predee’s departure could create uncertainty in policy-making as the government rolls out billions of dollars of stimulus to aid the economy through the global pandemic, analysts and investors say.

The baht

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Statutes and Regulations associated with Regulated Finance Companies

Regulated Finance Companies (RFCs) are major financial intermediaries which are duly regulated and governed by the laws of Sri Lanka. RFCs are strictly governed by virtue of statutes and Acts such as Finance Business Act No. 42 of 2011. The other statutes which are applicable are Finance Leasing Act No. 56 of 2000 as amended, Consumer Credit Act, Mortgage Act, Motor traffic Act, Inland Trust Receipts Act, Debt Recovery Special Provisions Act, Criminal Procedure Amendment Act, Companies Act and so on.

The Finance Business Act No. 42 of 2011 is an act to provide control and supervision of finance companies registered in the Central Bank and the act has repealed the Finance Companies Act No. 78 of 1998. The act outlines the licensing procedures, directions, rules and requirements of finance companies, including core capital reserve funds, admissible business activities by finance companies. Under this act, it is mandatory that a

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Teller Finance Integrating with Chainlink Ahead of Unsecured Lending Protocol Launch

Teller Finance, a blockchain project for decentralized lending, today announced its upcoming integration with Chainlink, the market-leading oracle provider, ahead of their public alpha launch. Chainlink will initially provide Teller with three cryptocurrency price feeds via its Price Reference Data oracle networks, these feeds will include DAI/ETH, USDC/ETH, and LINK/USD.

Teller uses an open-source protocol that interacts with consumer data to calculate default risk and offer unsecured crypto asset loans. Users can supply liquidity to the protocol’s lending pools and earn interest from repaid loans. Teller leverages borrowers’ credit history to calculate an annual interest rate (APR) that is based on market conditions vs. consumer credit risk, reducing or eliminating the need for collateral.

“Teller calculates consumer credit risk as a measure of personal financial data, e.g. debt to income ratio. The latter translates into an APR that is not only based on money market interest rate, but also takes

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Saipem Finance International B.V. — Moody’s announces completion of a periodic review of ratings of Saipem S.p.A.

Announcement of Periodic Review: Moody’s announces completion of a periodic review of ratings of Saipem S.p.A.

Global Credit Research – 24 Aug 2020

Frankfurt am Main, August 24, 2020 — Moody’s Investors Service (“Moody’s”) has completed a periodic review of the ratings of Saipem S.p.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody’s reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody’s practice has been to issue a press release following each periodic review to announce its completion.

This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in

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