Former financial secretary urges Hong Kong to seek alternative revenue sources
Former financial secretary John Tsang Chun-wah has urged the government of Hong Kong to seek alternative revenue sources to cover government spending, cautioning that the city has entered an era of structural fiscal deficits. Tsang criticized the revenue-boosting measures from the recent budget, highlighting that they were expected to generate only about HK$2 billion, falling far short of the required tens of billions to achieve fiscal balance.
Seth Coulson, CFA, Joins DoubleLine Capital as Relationship Manager
Seth Coulson, CFA, has joined DoubleLine Capital as a Relationship Manager, focusing on institutional investors and investment consulting firms in the Midwestern United States. With extensive experience at PIMCO and State Street IMS, Coulson brings a wealth of knowledge to his new role. DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940.
GDI Integrated Facility Services Reports 6% Increase in Revenue for Q4 2023
GDI Integrated Facility Services (GDI IFS) reported a 6% increase in revenue to $622 million for Q4 of fiscal 2023, with a 12% increase for the year. CEO Claude Bigras is confident in the company’s performance and growth prospects for 2024. The Business Service USA segment experienced a notable 10% organic growth and a 14% increase in adjusted EBITDA, while the Technical Service segment saw a decline in organic growth. GDI IFS aims to capture major clients in the US and reduce working capital by $50-60 million by the end of 2024, with a focus on organic growth and acquisitions.
New York Community Bancorp Shares Plummet 18% After Leadership Change and Internal Control Issues
New York Community Bancorp’s shares plunged 18% in after-hours trading due to a leadership change and internal control issues. The bank’s exposure to commercial real estate has added to its recent performance woes, leading to a 53% decline in shares year-to-date.
New York Community Bancorp, Inc. (NYCB) Under Investigation for Potential Securities Law Violations
New York Community Bancorp, Inc. (NYCB) is under investigation for potential securities law violations, with investors who suffered losses encouraged to discuss their legal rights with Faruqi & Faruqi, LLP. The investigation stems from a federal securities class action alleging false and/or misleading statements and critical information nondisclosure regarding the Signature Bank acquisition and the company’s financial standing. Investors have until April 8, 2024, to seek the role of lead plaintiff in the federal securities class action and are encouraged to contact the firm directly to discuss their options.
Navigating the World of Cryptocurrency Trading Platforms
Interested in cryptocurrency trading? Find the top platforms for secure investments like Binance, Coinbase Pro, and Kraken. Learn about the diverse digital assets and market analysis tools offered by these leading crypto trading platforms.
Common Mistakes When Buying a Home
Aussie mortgage broker Quang Huynh highlights common mistakes people make when buying a home, including pooling money with friends or family, overreaching financially, lack of research, failure to consider lifestyle changes, and overextending financially. He emphasizes the importance of realistic financial planning and seeking professional advice before making a property purchase.
CFPB Takes Action Against Performance SLC and Performance Settlement for Deceptive Practices
Over 8,500 consumers affected by Performance SLC and Performance Settlement will receive over $10.9 million in compensation due to illegal and deceptive practices. The Consumer Financial Protection Bureau (CFPB) took action against these companies for charging illegal upfront fees and using deceptive tactics. If you have questions about receiving a refund, you can contact performance_info@rustcfpbconsumerprotection.org or call 1 (888) 396-6086.
Deutsche Bank CEO Christian Sewing’s Unassuming Leadership Style Making Waves
Deutsche Bank CEO Christian Sewing is making waves with his unassuming leadership style, prioritizing corporate banking and local clients. His approach has seen a shift towards automated tax reports and a hands-on presence at local events, showcasing a departure from the traditional image of a banking CEO. Key appointments like Fabrizio Campelli and Rebecca Short reflect Sewing’s methodical and cost-focused strategies, contributing to a more collaborative and focused culture within the organization.
Colombian Fintech Startup Bold Secures $50M in Series C Funding
Colombian fintech startup, Bold, secures $50M Series C funding round led by General Atlantic and other investors. The funding will be used for product development and expansion within Colombia. Bold specializes in low-cost payment terminals and recently obtained a financial institution license to offer businesses a bank account. Managing Director at General Atlantic, Luiz Ribeiro, expresses confidence in Bold’s potential. Established in 2019, Bold serves over 150,000 merchants monthly.