November 13th, 2024, 9:25 PM GMT+0000Investors are turning to OCIO or Outsourced Chief Investment Officers for decision-making in a complex environment. Despite fluctuating interest rates and market highs, many are still interested in making new investments, but there are different reasons to invest in public vs private companies. Arjun Raghavan, OCIO Partners Capital CEO discusses some advanatages of private investments, with Sonali Basak on “Bloomberg Markets”. (Source: Bloomberg) Source link
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CHARLOTTE, N.C. – Truist Financial Corporation (NYSE: NYSE:) announced today a significant change in its leadership team, with the retirement of Clarke R. Starnes III, the vice chair and chief risk officer, and the appointment of Brad Bender as his successor. Bender, a seasoned executive with two decades at Truist, steps into the role effective immediately. Starnes, who is concluding a notable 42-year tenure at the bank, has been commended for his “steady, purpose-driven leadership” by Truist Chairman and CEO Bill Rogers (NYSE:). During his career, Starnes has held various leadership positions and played a crucial role in the company’s…
Spirit Airlines stock (SAVE) plunged 59% on Wednesday as the budget airline explores a deal with creditors to restructure its debt amid a reported threat of bankruptcy after merger talks with Frontier (ULCC) collapsed. On Tuesday, a Wall Street Journal report said the airline is preparing to file for bankruptcy protection within weeks, as its tie-up discussions with Frontier broke down. This report followed a separate statement from the company late Tuesday, which said it has been in “constructive discussions” to iron out a restructuring deal with holders of its senior secure notes due in 2025. If an agreement with…
SAN JUAN, Puerto Rico—Aurelio Aleman, President and CEO of First BanCorp (NYSE:FBP), recently sold 50,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on November 11 at an average price of $21.64, generating a total of approximately $1.08 million. Following this transaction, Aleman holds 1,045,261 shares in the company. The sale was executed over multiple transactions, with prices ranging from $21.53 to $21.81 per share. Aleman, who serves as both director and officer of the company, retains direct ownership of his remaining shares. In other recent news, First…
BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad said on Wednesday he is uncertain whether there is enough time to announce a spending containment package this week, adding that it will be released once President Luiz Inacio Lula da Silva gives the go-ahead. The market is eagerly awaiting the new measures. Local fiscal concerns combined with inflationary fears tied to U.S. President-elect Donald Trump’s proposals have led to currency weakening and an increase in long-term interest rates in Brazil. Speaking to reporters in Brasilia, Haddad stressed that the package is centered on keeping expenditures under the same general rule that…
Earnings season continues, with a diverse array of companies preparing to unveil their financial results for the upcoming trading day. Investors and analysts are eagerly anticipating reports from industry giants such as Disney (NYSE:), Applied Materials, and Brookfield, along with numerous other firms across various sectors. These reports will provide valuable insights into the current state of the economy and individual company performances. Earnings Before the Open: • Disney (DIS): EPS est. $1.10, Revenue est. $22.48B • Brookfield (BN): EPS est. $0.8144, Revenue est. $1.27B • NICE-Systems Ltd (NASDAQ:): EPS est. $2.68, Revenue est. $683.55M • Advance Auto Parts (NYSE:):…
GenZero, a decarbonization-focused investment platform owned by Temasek, and global commodities trader Trafigura have committed over $100 million to Brújula Verde, Colombia’s largest nature-based carbon removal project. Located in the Orinoco River Basin, this project aims to restore land degraded by agriculture and wildfires while generating high-integrity carbon removal credits. Bringing Degraded Lands Back to Life The planet is losing about 10 million hectares of forest worldwide every single year. The primary reason is to clear land for agriculture and materials like paper. This deforestation, largely concentrated in tropical forests (96%), contributes to 16% of total tree cover loss. Notably,…
Since the lottery’s first ticket sold in March of 1972, over $32 billion in net profit has been returned to the Commonwealth. DORCHESTER, Mass. (WWLP) – A woman from Lowell is the winner of a $1 million prize in the Massachusetts State Lottery’s “$5,000,000 100X Cashword” instant ticket game. Family First Trust in Rhode Island claims $1M Massachusetts lottery ticket Elizabeth Correia of Lowell chose the cash option and received a one-time payment of $650,000, before taxes. Correia says that she plans on investing her winnings. The winning ticket was purchased at Santo Domingo Liquors on Hampshire Street in Lawrence,…
America’s national debt is “set to explode” under Donald Trump, top bankers at the Institute of International Finance (IIF) have warned.Analysts at the Washington-based institute said the incoming president’s plan to slash taxes without equal cuts to spending would push US national debt up from around 100pc of GDP today to more than 135pc in a decade’s time.Inflation is also likely to rise as Mr Trump stokes spending and makes imports more expensive by slapping tariffs on foreign-made goods.The US national debt already stands at close to $36 trillion (£28 trillion) and the IIF warned debts could reach more than…
By Chibuike Oguh NEW YORK (Reuters) – The U.S. dollar advanced near a seven-month high against major currencies on Wednesday after data showed U.S. inflation for October increased in line with expectations, suggesting the Federal Reserve will keep cutting rates. The greenback has risen to its highest level since April 16, buoyed by Donald Trump’s victory in last week’s U.S. presidential election, which sparked expectations of potentially inflationary tariffs and other measures by his incoming administration. The , which measures the greenback against a basket of currencies including the yen and the euro,rose 0.33% to 106.34 after reaching as high…