Finance – Reynolds Records http://reynoldsrecords.com/ Wed, 22 Sep 2021 13:54:11 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://reynoldsrecords.com/wp-content/uploads/2021/05/ryan-reynolds-icon-150x150.png Finance – Reynolds Records http://reynoldsrecords.com/ 32 32 3 fast online loans with monthly payments https://reynoldsrecords.com/3-fast-online-loans-with-monthly-payments/ https://reynoldsrecords.com/3-fast-online-loans-with-monthly-payments/#respond Wed, 22 Sep 2021 13:17:51 +0000 https://reynoldsrecords.com/3-fast-online-loans-with-monthly-payments/

LOS ANGELES – September 22, 2021 – (Newswire.com)

iQuanti: There are many short term loans that last 30 days or less for people who need to cover expenses quickly. But if you need to borrow more money and want to pay it back over a longer period of time, you can consider a loan with monthly payments. Fortunately, there are several online loans with monthly payments which can make you money fast. Here are a few options to check out.

Installment loans

An installment loan is a short-term personal loan that offers you a lump sum of cash. With these loans, you can make fixed monthly payments over a fixed term. The repayment term for an installment loan can range from a few months to a few years, depending on the lender and the terms of the loan.

Many installment loans require credit checks and other financial documents. However, many lenders have more lenient requirements and will consider other factors besides your credit rating, such as your income and work history.

Securities lending

Securities lending allows you to use the title of your vehicle as collateral for a quick loan if you own the vehicle. After you complete an application, the lender will assess your vehicle to determine its value. Many lenders will offer a loan amount of 25 to 50% of the value of your car. Since you are providing your car as collateral, you may need a good credit rating to qualify.

If approved, you can get the loan as quickly as the day you apply. Plus, you can continue to drive your car while the loan is in progress. Many securities loans last for 30 days, but many securities lenders offer loans with terms of up to several months or even a few years.

Loans secured by savings

Loans secured by savings allow you to use your savings account as collateral to borrow money. Loan decisions are often quite quick since your savings balance and income largely determine your eligibility.

Once you have taken out one of these loans, the financial institution prevents you from accessing this savings amount. As you pay off the loan each month, more of your savings become available. Loans secured by savings can be great for people trying to build or rebuild their credit, as lenders tend to have less stringent requirements when it comes to your credit score.

The bottom line

There are many loan options online with monthly payments that can get you money fast. Paying off a loan over several months can help you meet larger expenses and budget for the loan. And in some cases, you can even improve your credit score by paying off a loan over time. Be sure to compare lenders and loan options so that you can choose the loan that best suits your needs.

Notice: The information provided in this article is for informational purposes only. Consult your financial advisor about your financial situation.

Press Releases Department
through
Newswire.com

Primary source:

3 fast online loans with monthly payments

Source link

]]>
https://reynoldsrecords.com/3-fast-online-loans-with-monthly-payments/feed/ 0
UK MarketFinance Secures $ 383 Million To Power Its SME Online Lending Platform – TechCrunch https://reynoldsrecords.com/uk-marketfinance-secures-383-million-to-power-its-sme-online-lending-platform-techcrunch/ https://reynoldsrecords.com/uk-marketfinance-secures-383-million-to-power-its-sme-online-lending-platform-techcrunch/#respond Tue, 21 Sep 2021 10:13:33 +0000 https://reynoldsrecords.com/uk-marketfinance-secures-383-million-to-power-its-sme-online-lending-platform-techcrunch/

Small and medium-sized businesses regularly face cash flow problems. But while this is an already embarrassing situation, it has been exacerbated to the breaking point for too many people during the COVID-19 pandemic. Now a British startup called MarketFinance – which has set up a lending platform to help SMEs stay afloat during these tougher times – announces a large infusion of £ 280m ($ 383m) in funding as it gears up to a new wave of loan requests.

“It’s a good time to lend, at the start of the business cycle,” CEO and founder Anil Stocker said in an interview.

Funding comes primarily in the form of debt – money loaned to MarketFinance to in turn lend to its clients as an authorized partner of the UK government. Recovery loan program; and £ 10million ($ 14million) is equity that MarketInvoice will use to continue improving its platform.

Italian bank Intesa Sanpaolo SpA and an unnamed “global investment firm” provide the debt, while the equity portion is led by Black River Ventures (which also backed Marqeta, Upgrade, Coursera and Digital Ocean) with the participation of the existing funder, Barclays Bank PLC. Barclays is a strategic investor: MarketFinance powers the bank’s online SME lending service. Other investors in the startup include Northzone.

We understand that the company’s valuation is somewhere in the region of less than $ 500 million, but over $ 250 million, although officially it doesn’t release any numbers.

Stocker said MarketFinance has been profitable since 2018, one of the reasons it hasn’t given up a lot of equity in this current funding tranche.

“We are building a sustainable business, and the equity we raised was aimed at unlocking better debt at better prices,” he said. “It can help show more equity on the balance sheet. He said the money would “go to our reserves” and be used for new product development, marketing and to continue to expand its API connectivity.

This latest development is important: it harnesses the great wave of ‘integrated finance’ games that we see today, where third parties are offering loans to clients on their own platforms – with the loan product powered by MarketFinance, similar to what Barclays is doing. currently. The range of companies that operate this is potentially as wide as the Internet itself. The promise of integrated financing is that any online brand that already does business with SMEs could potentially offer these SMEs loans to… do more business together.

MarketFinance came into being several years ago as MarketInvoice, with its basic business model focused on providing short-term loans to a given SME against the value of its unpaid invoices – a practice commonly described as invoice financing. The idea at the time was to solve the most immediate cash flow problem faced by SMEs by taking advantage of the thing (unpaid invoices, which would usually end up being paid, but not immediately) that caused the cash flow problem. in the first place.

Much of the financing that SMEs get against invoices, however, is primarily in the realm of working capital, helping businesses with their payroll and their own monthly bills. But Stocker said that over time, the startup could see a greater opportunity by providing funding in larger sums and covering more ambitious business expansion goals. That was two years ago, so after its last round of funding, MarketInvoice rebranded itself as MarketFinance. (He still offers the product a lot based on the invoice.)

The timing turned out to be fortuitous, although the reason was certainly not lucky: COVID-19 has arrived and has completely changed the way the world works. SMEs have been at the edge of this corner, not least because of these cash flow issues and the fact that they are simply less oriented towards diversification and pivoting due to changing market forces due to their cut.

This presented a great opportunity for MarketInvoice, it turned out.

Stocker said the early part of the COVID-19 pandemic saw the bulk of loans taken out to handle business disruptions due to COVID-19. Interruptions can mean business closures, or just customers who don’t come as before, and so on. “The big theme was frictionless access to finance,” he said, using technology to better and faster assess applications digitally without “any meeting with bank managers” and reducing response time to a few days compared to the 4 to 6 weeks typical of SMEs. traditionally expected.

If last year was more about ‘panic, bolstering or pivoting,’ in Stocker’s words, ‘we are now seeing a group of them struggling with supply chain issues, exacerbations of the Brexit and labor shortages. It’s really hard for them to deal with all of this.

He said the number of loan applications has exploded, so there is no shortage of demand. He estimates monthly loan requests to have reached $ 500 million, a huge sum for a small startup in the UK.

Source link

]]>
https://reynoldsrecords.com/uk-marketfinance-secures-383-million-to-power-its-sme-online-lending-platform-techcrunch/feed/ 0
5 documents to prove your income, even if you are self-employed or self-employed https://reynoldsrecords.com/5-documents-to-prove-your-income-even-if-you-are-self-employed-or-self-employed/ https://reynoldsrecords.com/5-documents-to-prove-your-income-even-if-you-are-self-employed-or-self-employed/#respond Mon, 20 Sep 2021 08:36:22 +0000 https://reynoldsrecords.com/5-documents-to-prove-your-income-even-if-you-are-self-employed-or-self-employed/

This article was translated from our Spanish edition. Opinions expressed by Contractor the contributors are theirs. This article was updated on September 19, 2021

You are reading Entrepreneur United States, an international Entrepreneur Media franchise.

Proof of income is a document that confirms the salary or income received by an employee or a service provider, whether it is a company or a public body. In Mexico, people normally employed or not, need one of these vouchers to obtain A credit card Where bank loans , auto credit plans , the rental of real estate and, in some cases, as a requirement to process scholarships or other benefits such as insurance.

Depositphotos.com

This is to demonstrate to the credit institution that you have the financial solvency face payments month after month, explains Bernardo Prum, director of Coru.com . When you are an employee, your salary payment receipt serves as proof, but what happens when you have your own business, are self-employed or are self-employed? “Most likely, you will not generate this type of document, so it will be difficult to officially prove the income you receive, regardless of the amount,” he adds.

5 ways to officially prove your income

In order to guide people who do not have conventional proof of income, financial services comparator Coru.com, explains the following alternatives which may also work to cover this requirement before most banks and finance companies in Mexico.

1. Payroll receipt

It is the payment receipt that the company in which she works, whether public or private, issues detailing the salary, benefits, tax deductions and other concepts that are dealt with.

2. Bank account statements

Another good way to check a stable income is with the bank account statements where our money is managed. The ideal is to make frequent deposits into this account, so in addition to showing that there is constant income, the amount to be verified may even be greater than what a payroll receipt might indicate.

3. If you receive cash payments or if your professional activity is not registered in the SAT

In this case, it is better to open a basic savings account and deposit all your income, so the statement from this account will serve as proof. If you choose this option, keep in mind that the same amount of money must be deposited for at least three months in order to verify that you have a fixed income.

4. Annual tax declaration

For entrepreneurs or owners of their own business, traders or self-employed persons who carry out a professional activity registered with the SAT, the income can be verified with the annual tax return. Remember that the declaration must be made digitally.

5. Credit card statements

If you have a bank or departmental credit card, the statement that arrives month after month serves as proof to show that you have the capacity to pay and that you have constant cash flow. Keeping your payments up to date is important to maintaining a good credit history.

For some types of business credit, the business inventory report may be sufficient support for a financial institution to consider approving the loan product. Another financing alternative is the low demand online loan. In these cases, it is best to first verify that it is a company approved by the Financial Entities Bureau. Remember, you should never donate money to apply for a loan, as these types of requirements are a sign of fraud.

Source link

]]>
https://reynoldsrecords.com/5-documents-to-prove-your-income-even-if-you-are-self-employed-or-self-employed/feed/ 0
The best financial apps for your iOS device https://reynoldsrecords.com/the-best-financial-apps-for-your-ios-device/ https://reynoldsrecords.com/the-best-financial-apps-for-your-ios-device/#respond Mon, 20 Sep 2021 08:11:34 +0000 https://reynoldsrecords.com/the-best-financial-apps-for-your-ios-device/
las mejores aplicaciones de finanzas para tu dispositivo ios.jpg

If you’ve ever needed to search for financing online and quickly, chances are it’s because an unforeseen expense has arisen that has thrown your finances out of balance in the short to medium term. This is not something that should embarrass us, after all, we are living in a time of crisis and it is more and more normal and common to enter and exit financially complicated situations. An easy way to access loans online is to Credit portal where despite rapid loans, it is important to consider that to avoid this type of uncomfortable situation, we must actively work to improve our finances and make them more robust, secure and flexible. Crises come and go and we must prepare for them.

On the other hand, we know that technology in virtually every respect has made our lives easier thanks to the accessibility to an amazing capacity of virtual tools. In this article, we will present a series of applications that specialize in managing our personal finances. Although it seems a complicated task, especially for those who have never worked too hard to balance their expenses and income, plan budgets or keep careful control of traditional and ongoing debts, investments, credits and loans. line, the applications that we are going to show below will be of great help as almost all of them emphasize an intuitive layout and a simple but powerful and useful experience for their users.

Spent

Available in the App Store for only 1.79 euros. The most interesting thing about this app is that it offers the authoring feature wallets Shared with friends and family, which is especially useful when we have children and want to manage a shared budget with them, so that everyone can develop a sense of finances and saving. In addition to this unique feature, we will also have reminders, alerts that indicate that we are over budget and useful charts and tables allow us to track our spending with great precision. If to all this we add the fact that we can link our bank accounts to make sure that all our expenses are saved for sure, we find an extremely complete application that adapts to almost all types of users.

Source link

]]>
https://reynoldsrecords.com/the-best-financial-apps-for-your-ios-device/feed/ 0
Points To Watch Out For While Availing Instant Online Loans https://reynoldsrecords.com/points-to-watch-out-for-while-availing-instant-online-loans/ https://reynoldsrecords.com/points-to-watch-out-for-while-availing-instant-online-loans/#respond Sun, 19 Sep 2021 01:56:43 +0000 https://reynoldsrecords.com/points-to-watch-out-for-while-availing-instant-online-loans/

Points To Watch Out For While Availing Instant Online Loans

In today’s digital age, instant loan disbursements have become the new normal. Fintech brands have experienced significant growth in recent years, especially during the pandemic, when people have adapted faster than ever to digital money transactions. In addition, more and more people have trained and taken out loans from banks and NBFCs for one reason or another. The best part about online loans is that there is a vast plethora of options available and the borrower can easily assess the interest rates offered by different fintech companies.

Another major advantage of obtaining loans online is that the process is better streamlined with limited paperwork and offers the benefit of in-home service. Moreover, you can choose from a wide category of loans such as personal loans, medical loans, travel loans, home loans, car loans and more.

Although the process of obtaining a loan has been digitized and simplified, it is also important to know some important guidelines so that you can get the most out of your loan provider.

Make sure the Fintech platform is genuine
A digital lending platform can take many forms. For example, it could be an independent lending platform registered as an NBFC, bank, or organization in partnership with a bank or NBFC. The key here is to verify and verify that the lending entity is registered as an NBFC. You can choose to get a loan from a bank, the NBFC, or a partner entity of either. These are safe and secure options for a borrower.

If you come across a lending platform that does not display their NBFC license number on their website, it is best to stay away from such sites. No matter how attractive the loan offers or the interest rate, these are not safe options for you. Also make sure that your bank / NBFC is registered with the central bank or state level authorities as they are the ones who provide the license to offer digital loans to these entities. If you can’t find a genuine platform based on these two very crucial criteria, your best bet is to avoid sharing your personal information and bank details with them online.

Loan approval without KYC
With the Aadhaar introduced into the country, we have all been tied to an identity card that functions as an authentic document of our identity. Therefore, all credible lending platforms verify your Aadhaar information and perform KYC online to ensure transparency is maintained on both ends. Therefore, if a digital platform offers to give you a loan without KYC, it is inappropriate and there is a chance that it is a scam that can lead to identity theft or financial fraud. resulting in huge losses. It is better to strictly avoid such platforms which do not perform KYC before disbursing the loan.

Avoid hidden fees
Some digital lending platforms charge unnecessary hidden charges on your loan, such as late submission fees for late payment of installments. Some use a manipulative methodology with fluctuations in interest which are totally unethical and create unnecessary burden for the borrower. Late submission fees are a popular scam, where people end up paying 2-3% more for no reason. Therefore, be careful when taking out loans and read the documents carefully.

Read the documents carefully
As already suggested, it is very important to read the offer documents which include the duration of the plan, the interest rates and the terms and conditions of your loan policy. It’s the best way to stay safe from fraud, unnecessary hassle and fees

Source link

]]>
https://reynoldsrecords.com/points-to-watch-out-for-while-availing-instant-online-loans/feed/ 0
CURO (CURO) drops 0.29% in active trading on September 17th https://reynoldsrecords.com/curo-curo-drops-0-29-in-active-trading-on-september-17th/ https://reynoldsrecords.com/curo-curo-drops-0-29-in-active-trading-on-september-17th/#respond Sat, 18 Sep 2021 01:39:00 +0000 https://reynoldsrecords.com/curo-curo-drops-0-29-in-active-trading-on-september-17th/

CURO Group Holdings Corp (NYSE: CURO), a Wichita, Kansas company, fell to close at $ 16.95 on Friday after losing $ 0.05 (0.29%) on volume of 496,320 shares. The stock ranged from a high of $ 17.20 to a low of $ 16.86, while CURO’s market cap now stands at $ 702,232,415.

About CURO Group Holdings Corp

CURO Group Holdings Corp., operating in two countries and powered by its fully integrated technology platform, is a provider of unprivileged consumer credit. In 1997, the company was founded in Riverside, Calif., By three childhood friends from Wichita, Kansas, to meet growing consumer needs for short-term loans. Their success has led to the opening of stores across the United States and an expansion to offer online loans and financial services in two countries. Today, CURO combines its market expertise with a fully integrated technology platform, omnichannel approach and advanced credit decisions to deliver a range of credit products across all media. CURO operates under several brands, including Speedy Cash®, Rapid Cash®, Cash Money®, LendDirect®, Avío Credit®, Opt + ® and Revolve Finance®. With over 20 years of operating experience, CURO offers financial freedom to unprivileged consumers.

Visit the CURO Group Holdings Corp Profile for more information.

About the New York Stock Exchange

The New York Stock Exchange is the world’s largest stock exchange by market value with over $ 26 trillion. It’s also the leader in initial public offerings, with $ 82 billion raised in 2020, including six of the seven biggest tech deals. 63% of PSPC proceeds in 2020 were raised on the NYSE, including the six biggest deals.

To get more information about CURO Group Holdings Corp and keep up with the latest company updates, you can visit the Company Profile page here: CURO Group Holdings Corp’s Profile. For more information on the financial markets, be sure to visit Equities News. Also, don’t forget to sign up for the Daily Fix to get the best stories delivered to your inbox 5 days a week.

Sources: The chart is provided by TradingView on the basis of prices delayed by 15 minutes. All other data provided by IEX Cloud as of 8:05 p.m. ET on the day of publication.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors and do not represent the views of equities.com. Readers should not take the author’s statements as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please visit: http://www.equities.com/disclaimer


President Biden’s new alliance with Australia and Great Britain Angers France and European Union


California Governor Newsom signs affordable housing law

COVID-19 outbreak in Idaho forces health care rationing statewide

JPMorgan launches its first digital overseas bank in UK next week

Federal Reserve Reviews Ethics Policies Following Prolific Transactions Leaked By Two Senior Officials

Chinese real estate developer Evergrande is not ‘too big to fail’ – Global Times

August retail sales rebound 0.7%, surprising economists after July drop

UN report shows COVID-19 has not slowed the pace of climate change


Source link

]]>
https://reynoldsrecords.com/curo-curo-drops-0-29-in-active-trading-on-september-17th/feed/ 0
Alabama judge sends tribal Co. loan claim to arbitration https://reynoldsrecords.com/alabama-judge-sends-tribal-co-loan-claim-to-arbitration/ https://reynoldsrecords.com/alabama-judge-sends-tribal-co-loan-claim-to-arbitration/#respond Sat, 18 Sep 2021 01:12:00 +0000 https://reynoldsrecords.com/alabama-judge-sends-tribal-co-loan-claim-to-arbitration/
By Andrew Westney (September 17, 2021, 9:12 p.m. EDT) – An Alabama federal judge referred to arbitration a woman’s proposed class action claiming that a company owned by the Oglala Sioux tribe charged excessive interest for online loans, claiming that his own victory against the company did not allow him to pursue his broader claims in federal court.

U.S. District Chief Justice Kristi K. DuBose on Thursday approved in an order the decision of an American Arbitration Association panel that the loan contracts of Alabama resident Lillian Easley with the company WLCC II, which operates under the name of online lender Arrowhead Advance, were zero.

But Judge DuBose rejected Easley’s offer to file claims for a proposed class of Alabama loan clients who …

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas, and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of prosecution, etc.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, requests, etc.
  • Create personalized alerts for specific articles and topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Source link

]]>
https://reynoldsrecords.com/alabama-judge-sends-tribal-co-loan-claim-to-arbitration/feed/ 0
Consider cash financing when your business needs capital https://reynoldsrecords.com/consider-cash-financing-when-your-business-needs-capital/ https://reynoldsrecords.com/consider-cash-financing-when-your-business-needs-capital/#respond Fri, 17 Sep 2021 13:00:00 +0000 https://reynoldsrecords.com/consider-cash-financing-when-your-business-needs-capital/ Opinions expressed by Contractor the contributors are theirs.

You are reading Entrepreneur United States, an international Entrepreneur Media franchise.

What is cash flow financing? With cash flow financing, a business gets a loan, but that loan is backed by the expected cash flow of the business. A business’s cash flow is the amount of money that flows to and from a business, over a period of time. Cash flow financing, or a cash loan, uses the generated cash flow to pay off the loan.

If a business generates positive cash flow, it means that it is getting enough cash from its income to meet its financial obligations. Banks and credit providers check positive cash flow to determine how much credit they want to extend.

You can get short term or long term cash loans. Businesses can use this form of financing if they are looking to finance their operations, buy another business, or make other large purchases.

The idea is that companies borrow on a fraction of the future cash flow they hope to generate. Banks or creditors establish a payment schedule. They base this schedule on forecasts of future cash flows and analysis of historical cash flows.

Related: Tips for Managing Cash Flow Funding

Why seek treasury financing?

A business may have a temporary decrease in its cash flow. It could come from less than stellar seasonal sales. A business can be faced with unforeseen expenses. Starting an expensive new project could create a cash flow gap.

Decreased cash flow can also come from a time-limited opportunity, like purchasing equipment at a great price. Or, businesses can experience cash flow crashes when they need to make emergency repairs to vital equipment.

Related: Positive Cash Flow and Smart Financing Solutions

Cash flow statements

All cash flows are reported on what is called a company’s cash flow statement, or CFS. This statement records the income or net profit of a business, for the period covered by the statement. The report calculates the operating cash flow from the expenses related to the management of the business. These include supplier invoices paid by the company. It also includes the operating result from sales. The statement also records all investment activities.

Investing activities include investing in securities or in the business itself, such as the purchase of equipment. The statement records all fundraising activities, such as raising capital through loans or even issuing a bond. The bottom of the cash flow statement shows the net amount of cash generated or lost for the period.

Cash flow projections

Two critical areas in any cash flow projection will be a company’s debts and receivables. A bank must take account of accounts payable. These are short-term debt obligations, such as money owed to suppliers. The bank can use cash net of debts and receivables to forecast cash flow. Banks use this amount to determine the loan amount.

The bank will also have to take account of accounts receivable. Accounts receivable serve as future incoming cash flows for the goods and services that a business sells today. Banks or credit providers will use the anticipated amounts of receivables to help determine how much money will be generated in the future.

Banking guidelines

Banks may require a minimum credit rating for a company’s outstanding debt in the form of bonds. The companies issuing bonds are assigned credit ratings. This is how the level of risk associated with investing in corporate bonds is weighed.

Cash loans versus asset-backed loans

Asset-based financing helps businesses borrow money. However, an asset on the balance sheet serves as collateral for the loan. The bank places a lien on all assets used as collateral. Assets used as collateral can include inventory, machinery, real estate, company vehicles, etc.

If the business ends up defaulting on an asset-backed loan, the bank lien allows the lender to legally seize the assets. As a result, a business can lose its ability to function.

With cash flow financing, the cash generated is used as collateral for the loan. Collateral does not come in the form of physical or fixed assets. Typical businesses that use cash flow financing often don’t have a lot of assets, like service companies. See: investopedia.com/terms/c/cash-flow-financing.asp.

Advantages

Cash loans strike a balance between the loan amount, the APR and the length of the application process. Compare this with many online unsecured loans, which can have very fast approval but a limit on the loan amount. In addition, they tend to charge a very expensive APR.

Cash flow financing can also be an improvement over traditional financing. Traditional banks offer larger loans, often over $ 1 million, and lower APRs, but funding an account can take months.

Qualification

Often times, a business must have been in business for a few years. The borrower may have to meet a certain minimum credit score requirement. They must also prove cash flow history and present accounts receivable and payable, so that the lender can determine the amount to be made available.

Take away food

Cash flow financing allows entrepreneurs to borrow against future cash flows. It is generally used for temporary needs, such as the quick purchase of equipment or the start of a new project. This can be a good solution for service industries with few traditional guarantees.

Related: Outsmart Cash Flow Problems With The Right Financial Solution

Source link

]]>
https://reynoldsrecords.com/consider-cash-financing-when-your-business-needs-capital/feed/ 0
FirstFT: US launches security pact to challenge China https://reynoldsrecords.com/firstft-us-launches-security-pact-to-challenge-china/ https://reynoldsrecords.com/firstft-us-launches-security-pact-to-challenge-china/#respond Thu, 16 Sep 2021 10:37:42 +0000 https://reynoldsrecords.com/firstft-us-launches-security-pact-to-challenge-china/

Hello. This article is an on-site version of our FirstFT newsletter. Subscribe to our Asia, Europe / Africa Where Americas edition to get it delivered straight to your inbox every morning of the week. You can reach us at firstft@ft.com

The United States has launched a new trilateral security partnership with the United Kingdom and Australia that will allow Canberra to build a fleet of nuclear-powered submarines, an initiative that will strengthen the allies’ ability to counter China.

President Joe Biden announced the effort, which aims to strengthen alliances amid mounting tensions with Beijing over disputes ranging from the South China Sea to Taiwan, at a virtual event yesterday with British Prime Minister Boris Johnson and his Australian counterpart Scott Morrison.

Biden said the initiative was necessary to ensure countries have the best technology to “defend against rapidly evolving threats,” in rhetoric that appeared to be aimed at Beijing.

Morrison said it was a “partnership forever. . . between the oldest and most trusted friends ”. The pact, also known as AUSUK, “represents a substantial leap in capacity for the Royal Australian Navy,” the Australian government said. Learn more about how the deal will allow Australia to bring power to the Western Pacific.

The Chinese embassy in Washington denounced the decision. “They should get rid of their Cold War mentality and ideological prejudices,” said Liu Pengyu, embassy spokesperson.

But U.S. allies in the region have welcomed the new deal. Officials in Taipei, which is at the forefront of tensions between Washington and Beijing, said the alliance would help balance China’s growing military strength and assertiveness.

“The creation of AUKUS fills the most important gap in the security network in the entire Western Pacific,” said a Taiwanese official.

Taro Kono, former Japanese Minister for Foreign Affairs and Defense and leading candidate to succeed Yoshihide Suga as Prime Minister, said: “We are very pleased that the UK is once again looking to the South African region. Peaceful. “

As part of the pact, Australia will abandon a program to buy 12 conventional submarines from France that was signed in 2016. Instead, it will buy at least eight nuclear-powered submarines, which are faster, quieter and can operate over longer ranges.

France has reacted with fury to Canberra’s decision to cancel the $ 90 billion deal with Paris. “This decision is contrary to the letter and the spirit of the cooperation which prevailed between France and Australia”, declared Jean-Yves Le Drian, French Minister of Foreign Affairs, and Minister of Defense Florence Parly.

What are your thoughts? Do you think China poses a military threat in the Asia-Pacific region? Email me at gordon.smith@ft.com. Thanks for reading and here’s the rest of today’s news – Gordon

Five other articles in the news

1. Goldman acquires specialist lender GreenSky The Wall Street investment bank has agreed to buy online loan provider GreenSky for $ 2.2 billion as it continues to strengthen its presence in consumer lending. This is Goldman’s second multibillion-dollar acquisition in less than a month and highlights CEO David Solomon’s intention to transform the investment bank into a more consumer-oriented financial institution.

2. Biden-backed drug pricing proposal hits a roadblock Joe Biden’s hopes for legislation that would allow the US government to negotiate lower prices for drugs for the elderly were shaken yesterday. Three moderate members of the presidential party on the House of Commons Energy and Trade Committee voted against the measure, defeating the bill and offering a significant victory for pharmaceutical companies.

3. Dalio warns regulators could ‘kill’ bitcoin Ray Dalio, the founder of Bridgewater Associates, said regulators would shut down bitcoin if the cryptocurrency got too efficient and dismissed predictions from Cathie Wood of Ark Invest that its price would increase tenfold in five years. Do you agree with Wood’s prediction? Vote in our poll.

4. American envoy: Ghani’s escape derailed last-minute deal with the Taliban Afghan President Ashraf Ghani’s decision to flee the country last month thwarted a last-minute deal with the Taliban to keep Kabul out of Islamist hands and negotiate a political transition, the talks diplomat said with the Taliban.

5. Macau casino stocks lose $ 20 billion The Macau government yesterday opened a 45-day public consultation on revising its gambling law, wiping out more than $ 20 billion from the market value of listed gambling operators. The news impacted the actions of many American parents in the group, including MGM Resorts International and Las Vegas Sands.

Coronavirus digest

  • Pfizer and Moderna said protection against their vaccines may weaken over time as the U.S. drug regulator prepares to consider whether to approve a booster program.

  • Los Angeles The county is set to expand its proof of Covid-19 vaccination requirements for indoor venues such as bars and nightclubs and outdoor “mega-events” such as concerts and sports matches.

  • from China the economic slowdown worsened in August as epidemics exposed continued weakness in consumer spending.

  • Vaccinated travelers will no longer need to take a Covid-19 test before entering England, ministers will announce later this week.

The day to come

Data Retail sales data for August is expected to be released and is expected to show a decline of 0.8 percent from July. The state’s initial jobless claims for the week ended September 11 are also expected to be released.

Corporate events Ford is expected to make an electric vehicle announcement. Yesterday the autonomous start-up Argo AI revealed plans for an autonomous vehicle delivery service in Miami, Austin and Washington DC, in partnership with Ford and Walmart. (Reuters)

Macron-Merkel dinner Elysée Palace French President Emmanuel Macron and German Chancellor Angela Merkel meet today to discuss EU and Afghanistan policy.

Shanghai Cooperation Organization Annual Summit The foreign ministers of China, Russia, Iran and Pakistan will meet at the Tajikistan capital of Dushanbe. Virtual attendees, discussing how to deal with the new Taliban leadership in Kabul, include Vladimir Putin and Xi Jinping. (Bloomberg)

What else do we read and listen to

Russian elections: persecutions and distribution of money The outcome of Sunday’s Duma elections may have been decided in advance: United Russia should retain its constitutional majority. But as soaring food prices and falling real incomes have driven approval rates to record levels, Vladimir Putin is working hard to crack down on dissent.

Vladimir Putin in a montage with protesters and a Russian calendar marking September 19

The unprecedented crackdown on dissent has underscored the extent to which the Kremlin views perceived foreign threats as the crucial obstacle to its continued survival © FT montage; AP, Getty Images

Rise in sports betting fuels demand for data custodians The legalization of US sports betting is driving a new demand for statistics on players, games, teams and performances. Two sports data companies have established themselves as custodians of this wealth of information: Sportradar Group and Genius Sports. For more information on sports affairs, subscribe to the dashboard email.

The crackdown on financial bloggers in China Beijing has launched a crackdown on financial blogging and social media, a move that risks exacerbating a chronic problem plaguing the world’s second-largest economy: a dearth of reliable data.

Is Canada on the verge of a major political turn? Canadians go to the polls on Monday. The snap elections will be a verdict on Prime Minister Justin Trudeau’s handling of the coronavirus pandemic. Ahead of the vote, Gideon Rachman, chief foreign affairs columnist, is joined by Darrell Bricker, author of several books on Canadian politics, to discuss the elections in this week’s Rachman Review podcast.

Call to Find the Fastest Growing U.S. Companies 2022 The FT, in partnership with Statista, seeks to identify the 500 companies in the Americas with the highest revenue growth between 2017 and 2020. To apply for a place in the third annual FT ranking of companies in North America, Central and from the south here and to explore current rankings go here.

To travel

Yasuto Kamoshita, co-founder of Japanese clothing brand United Arrows, shares his insider’s guide to Tokyo. “A lot of the best stores are a mishmash of different things, both classic and street, creating a scrambled style,” he writes.

Recommended newsletters for you

Due diligence – The best stories from the world of corporate finance. Register now here

Moral money – Our essential newsletter on socially responsible business, sustainable finance and more. Register now here

Source link

]]>
https://reynoldsrecords.com/firstft-us-launches-security-pact-to-challenge-china/feed/ 0
Goldman Sachs buys fintech GreenSky for $ 2.2 billion https://reynoldsrecords.com/goldman-sachs-buys-fintech-greensky-for-2-2-billion/ https://reynoldsrecords.com/goldman-sachs-buys-fintech-greensky-for-2-2-billion/#respond Thu, 16 Sep 2021 06:49:35 +0000 https://reynoldsrecords.com/goldman-sachs-buys-fintech-greensky-for-2-2-billion/

Goldman Sachs is investing $ 2.2 billion to acquire GreenSky, a fintech company that offers fast and easy online lending. The investment bank buys it to improve and further develop its consumer credit business.

According to CNBC, Goldman Sachs signed an agreement with GreenSky, which has been described as the largest online lending platform for home improvement loans. It has been revealed that the companies’ transactions will close in the first quarter of 2022.

The buyout will help Goldman Sachs strengthen its consumer credit division. This adds a new opportunity for the company to focus on services outside of investment banking and wealth management for the large entities for which it is originally known.

Its acquisition of GreenSky is also a major improvement since the company launched its retail banking business just five years ago. It expanded during this time and few other services were offered, including personal finance and automated investing. And before having GreenSky in his portfolio, he already partnered with Amazon, Apple and Jetblue.

“We have clearly expressed our aspiration to make Marcus the consumer banking platform of the future, and the acquisition of GreenSky advances that goal,” said Goldman Sachs Chairman and CEO David M. Solomon , in a press release. Press release. “GreenSky and his talented team have built an impressive cloud native platform that will allow Marcus to reach a new active set of merchants and customers and provide them with an expanding set of solutions. We welcome the GreenSky team to the Goldman Sachs family.

Additionally, the New York-headquartered financial and investment bank said that in addition to expanding its customer base, the deal with GreenSky also gives the company access to its more than 10,000 merchants. Based on the deal, David Zalik, CEO of GreenSky, will join Goldman Sachs as one of its partners.

Meanwhile, it has been reported that Goldman Sachs has been eyeing GreenSky for years. In fact, in 2019, he considered buying the fintech company headquartered in Atlanta, Georgia, and there were already preliminary talks, and apparently the talks haven’t resulted in a deal – not before. this week. Finally, with GreenSky on board, the bank will be able to provide customers with better services related to saving, spending, borrowing or investing.

Source link

]]>
https://reynoldsrecords.com/goldman-sachs-buys-fintech-greensky-for-2-2-billion/feed/ 0