News summary: MONROVIA, Liberia---- Adtran (ADTN) today announced that CSquared is using its FSP 3000 open optical transport technology to bring high-speed broadband connectivity to homes and businesses across Liberia. This press release features multimedia. ?In the race to digitalize the global economy, it?s important that Africa doesn?t get left behind.
Intercontinental Exchange, Inc. (ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Benchmark Administration Limited, the authorized and regulated administrator of LIBOR?, has provided an update regarding LIBOR cessation and ?synthetic? LIBOR.
The UK Financial Conduct Authority announced that the three-month USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023.
Live workforce activity briefing to analyze surging shift work, labor market outlook today at 10:00 a.m. ET UKG: This press release features multimedia. About UKG At UKG, our purpose is people.
Facing a dynamic and increasingly on-demand, online environment, a majority of businesses and consumers are already using faster payments, and most say they are likely to use faster payments more often in the future, according to new studies released today by the Federal Reserve.
Builders FirstSource, Inc. (BLDR), the nation?s largest supplier of building products, prefabricated components, and value-added services to the professional market for new residential construction and repair and remodeling, announced today that it has published its 2023 Corporate Social Responsibility report, highlighting advancements in environmental, social, and governance across the Company in 2022.
In the 2023 Equity Gilt Study, Barclays Research Analysts Take Stock of Recent Shifts in Climate, Labour Markets and Chip Manufacturing, and Examine the Implications for Growth and for Prices In this year?s edition of our flagship annual publication, Barclays Research analysts delve into several supply shocks the world is likely to face in coming years and how they might impact the global economy.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a+? of Royal Bank of Canada Insurance Company Ltd.. The outlook of these Credit Ratings is stable.
U.S. home prices are down 2.7%, the smallest decline in over a month, and prices are dropping in fewer metros ? The median U.S. home-sale price fell 2.7% during the four weeks ending May 14, the smallest decline in over a month. Monthly mortgage payments hit a record high due to still-high prices and elevated mortgage rates.
KBRA Analytics examines how the correction of the economy and markets following the massive distortions introduced by the COVID-19 pandemic is likely to affect the corporate credit landscape. As the Federal Reserve continues to address high inflation, its money tightening policies are driving the cost of capital back above its longer-term average.
CPI announces partnership with Balcones Pain Consultants extending its reach in Central Texas Iron Path Capital, a private equity firm focused on building differentiated businesses in the healthcare and specialty industrials sectors, is pleased to announce that Capitol Pain Institute has acquired Balcones Pain Consultants and Water Leaf Surgery Center.
But despite demand rebound signals, a recovery hinges on global economics The latest Commodity IQ analysis from Supplyframe indicates that inventory reductions and corrections initially expected to be largely complete by the second quarter will continue into the third quarter of 2023.
Full-service platform allows user to seamlessly mint, manage, transact and redeem CBDCs and stablecoins With more than 90% of countries exploring, developing and implementing Central Bank Digital Currencies as a way to increase financial inclusion and lower the cost and risk of domestic and cross-border payment processes, today Ripple is announcing the Ripple CBDC Platform, a frictionless end-t...
U.S. Bancorp (USB) announced today that, after June 30, 2023, 3-month CME Term SOFR, as administered by CME Group Benchmark Administration, Ltd. plus the relevant tenor spread adjustment will be the replacement reference rate for certain outstanding floating rate or fixed-to-floating rate debt securities, preferred stock represented by depositary shares, income trust securities, and preferred stock i...
Wells Fargo & Company (WFC) and certain of its consolidated subsidiaries have issued debt securities, certificates of deposit, trust preferred securities and preferred stock and related depositary shares that reference the London Interbank Offered Rate for deposits in U.S. dollars for a three-month tenor. This press release features multimedia.
Outstanding US Law-Governed Citi-Issued USD LIBOR CMS Instruments Planned to be Calculated Pursuant to Fallback Provisions after June 30, 2023 On November 14, 2022, ICE Benchmark Administration, the publisher of the USD LIBOR ICE Swap Rate, announced that it intends to cease publication of all ICE Swap Rate settings based on USD LIBOR after June 30, 2023.
Commenting on the group?s results, Sappi Chief Executive Officer Steve Binnie said: ?Following the record profitability achieved last year, the Group faced a severe downstream inventory destocking cycle. Sappi delivered an EBITDA excluding special items of US$167 million against a backdrop of a challenging global economy and significantly weaker paper and pulp markets.
Increased Revenue by 27% Year-over-Year to $122.6 Million Driven by Global Growth in Social and CTV Measurement and Programmatic Activation Achieved Net Income of $12.2 Million and Adjusted EBITDA of $35.9 Million, representing a 29% Adjusted EBITDA margin Exceeded First Quarter Expectations and Raised Full Year 2023 Guidance to 24% Total Revenue Growth and 31% Adjusted EBITDA Margins at the Mi...
In accordance with the terms of Annaly?s 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, the Board has declared a Series F Preferred Stock cash dividend for the second quarter of 2023 of $0.634509 per share of Series F Preferred Stock, which reflects a rate of 10.15214%, equal to three-month LIBOR on the Dividend Determination date plus a spread of 4.993%. In accord...
Pidgin enables financial institutions to deliver instant payments with the FedNowSM Service Pidgin, a secure real-time payments platform built for the future of payments, is among the first companies in the industry to complete testing and certification for the FedNowSM Service, the Federal Reserve?s new instant payment offering launching in July 2023.
As the process for replacing the London Interbank Offered Rate nears its conclusion, existing contracts that do not provide for the use of a replacement benchmark rate may pose operational risks to some companies during the transition, according to a new AM Best commentary.
Net Sales Increased 8% to $121 Million; Net Income Increased 81% to $11 Million; Adjusted EBITDA Increased 11% to $25 Million Strong Sales of Contactless Cards Drive First Quarter Growth Company Affirms 2023 Outlook of Mid-Single Digit Net Sales Growth and Mid-to-High Single Digit Adjusted EBITDA Growth Company Announces Appointment of Jeffrey A. Hochstadt as Chief Financial Officer LITTLETON, ...
First-of-its-kind innovative product allows institutional investors to combine gold and bitcoin market views in a single structure. Over the past few months, Bitcoin and Gold have both witnessed noteworthy surges as investors have bet on the Federal Reserve slowing down the pace of interest rate hikes.
KBRA releases the April 2023 issue of CMBS Trend Watch. Following the Federal Reserve?s 10th consecutive rate hike, the central bank?s tightening policy may be edging closer to a pause.
National survey finds that 77% of small business owners are concerned about availability of capital, a shocking turnaround in sentiment from last April Sixty-five percent of small business owners say they will be negatively impacted if Congress fails to raise the debt ceiling; 90% believe it?s important that the federal government avoids defaulting on our national debt NEW YORK---- Small busine...
BOSTON---- After 10 interest rate hikes over the past year, and with the federal funds target rate at a 15-year high, 86% of financial advisors agree that bond yields are back. This press release features multimedia. While advisors have strong convictions about the resurgence in yield, inflation remains their top risk concern, followed by central bank policy uncertainty.
?Companies turning to Microsoft ecosystem providers for industry expertise, FinOps and sustainability services, ISG Provider Lens? report says Faced with high inflation and weak GDP growth, enterprises in the U.K. are turning to service providers to help them optimize their Microsoft cloud estates and reduce their cloud costs, according to a new research report published today by Information Se...
Morgan Stanley (MS) announced today that, except for the instruments identified below, the U.S. law-governed U.S. dollar LIBOR-linked preferred stock and debt securities issued by Morgan Stanley (MS) and Morgan Stanley Finance LLC, and certificates of deposit issued by Morgan Stanley Bank, N.A., will transition from using U.S. dollar LIBOR as a benchmark to the CME Term SOFR Reference Rate published for ...
Brian Wesbury, Chief Economist, and Robert Stein, Deputy Chief Economist, of First Trust receive distinction for their economic forecasts First Trust Advisors L.P. announced today that it has been awarded the Consensus Economics 2022 Forecast Accuracy Award for most accurately predicting GDP growth and Consumer Price Inflation in the United States.
Regulatory News: Eurofins: Eurofins commenced the year with a solid performance in Q1 2023: Objectives Comments from the CEO, Dr Gilles Martin: ?Thanks to the hard work of the Eurofins team and in spite of the challenges presented by the global economy, we started the year in a strong way and delivered organic growth exceeding our objective.
KBRA releases research examining March 2023 retail sales. Click here to view the report. Related Publications About KBRA KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006082/en/ Source: KBRA.
Australian bioplastics startup, Kelpy, has partnered with MIT spinoff and Caribbean ClimateTech startup, SOS Carbon, to create the first tangible and sustainable solutions to reduce the size and impact of the 5,000 miles wide sargassum bloom floating in the Atlantic.
JPMorgan Chase & Co. (JPM) announced today its replacement rate for certain outstanding floating rate and fixed-to-floating rate debt securities and certificates of deposit issued by JPMorgan Chase (JPM), JPMorgan Chase Financial Company LLC and JPMorgan Chase Bank, N.A. that are linked to U.S. dollar LIBOR ICE Swap Rates of one or more tenors.
CloudQuant, a leading provider of data technology and research insights, has released new backtests and forecasts utilizing Prosper Insights & Analytics US award-winning survey data, which provides a proactive look at consumer trends to come.
The keynote address at the second annual Bermuda Climate Summit, presented by the Bermuda Business Development Agency , in partnership with KBRA, will be given by Joshua Rosenberg, Chief Risk Officer, Federal Reserve Bank of New York on June 27.
CPI? sees continued momentum for an eco-focused card portfolio among sustainability-minded financial institutions of all sizes, including Payactiv As the world prepares to celebrate Earth Day on April 22, CPI Card Group Inc. (PMTS), a payment technology company and leading provider of credit, debit and prepaid solutions, is pleased to announce that through the end of 2022, it has sold over 90 million ...
The Federal Reserve will have a significant presence at this year?s Nacha Smarter Faster Payments 2023 conference, April 16-19 in Las Vegas, including a Federal Reserve Town Hall, several speaking sessions and ongoing demonstrations of the FedNowSM Service in booth #600.
The Central Bank of Montenegro has agreed to collaborate with the enterprise crypto and blockchain solutions provider Ripple to develop a strategy and pilot programme to launch the country?s first digital currency in the form of a Central Bank Digital Currency or national stablecoin. A CBDC is a digitised version of the currency issued by central banks.
Intercontinental Exchange, Inc. (ICE), a leading global provider of data, technology, and market infrastructure, today notes the decision from the U.K. Financial Conduct Authority to require ICE Benchmark Administration Limited to publish 1-, 3- and 6-month ?synthetic? U.S. dollar LIBOR.
KBRA Analytics releases this month?s edition of The Bank Treasury Newsletter, the Bank Treasury Chart Deck, and Bank Talk. This month?s newsletter, Bank Treasurers Reconsider Asteroid Insurance, reviews the critical steps the Federal Reserve, FDIC, and U.S. Treasury have taken to stabilize financial markets and reassure depositors in the wake of the bank failures this month.
The leading B2B digital payments platform has been a FedNow showcase participant, providing its capabilities to financial institutions interested in utilizing FedNow Tassat Group Inc., the leading provider of private blockchain-based business-to-business real-time payments and financial services solutions to banks, today announced that its client-facing API can serve as an on-ramp to FedNow, th...
OCR Labs is proud to be featured in the Federal Reserve?s FedNow Service Provider Showcase, an online resource designed to connect financial institutions looking to adopt and innovate upon the FedNow Service with service providers offering instant payment solutions.
The Service will Debut with Financial Institutions and the U.S. Treasury on Board The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch. The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service.
Finance Looks to Technology to Mitigate Productivity and Efficiency Gaps Corporate finance leaders expect to remain focused on digital transformation in 2023 to address recession, inflation, geopolitical turmoil and talent shortages, according to the 2023 CFO Agenda research from The Hackett Group (HCKT), Inc.. Other top priorities for the year include providing support for growth strategies, better p...
First monthly Index report shows small businesses in Canada employed 8,700 fewer people compared to previous month Intuit Inc. (INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, has launched the Intuit QuickBooks Small Business Index, a powerful new monthly indicator of employment and hiring among small businesses in Canada, the US, and the U...
First Monthly Index Report Shows US Small Business Employment Drops 0.06% in February 2023 Compared to Previous Month US Small Businesses with One to Nine Employees Still Account for Over 12.8 Million Jobs Intuit Inc. (INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, has launched the Intuit QuickBooks Small Business Index, a powerful new mon...
UK small business job vacancies dropped 2.5% in February 2023, with 3,800 fewer job vacancies, continuing a trend which dates back to March 2022 But vacancy numbers are still 29% higher than the pre-pandemic period according to the Index LONDON---- Intuit, the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, has launched the Intuit QuickBooks Sm...
Elevated mortgage rates, along with prices that remain high?despite posting a 1% annual drop?pushed monthly housing payments to a record high of nearly $2,600 ?The typical homebuyer?s monthly payment hit a new all-time high of $2,563 this week, up 29% from $1,988 a year ago, according to a new report from Redfin, the technology-powered real estate brokerage.
BRUSSELS---- Swift today announced further progress on its experimental solution for interlinking Central Bank Digital Currencies, reporting that 18 central and commercial banks found ?clear potential and value? in the API-based CBDC connector after a comprehensive review.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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