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Se informa que Ricardo Salinas está moviendo activos fuera de EE. UU. en un intento por evitar el pago de la sentencia

VANCOUVER, Canadá, 30-Sep-2024 — /EuropaWire/ — Astor Asset Management 3 Ltd informa que Ricardo Benjamín Salinas Pliego, presidente de Grupo Elektra, S.A.B. de C.V., enfrenta nuevas acusaciones por transferir activos fuera de Estados Unidos para evadir el pago de una sentencia de 20 millones de dólares derivada de una disputa contractual con AT&T.

La sentencia fue emitida el 29 de noviembre de 2023 por un tribunal estadounidense contra Grupo Salinas Telecom, S.A. de C.V. y Grupo Salinas Telecom II, S.A. de C.V., empresas vinculadas a Salinas Pliego. Documentos judiciales revelan que Grupo Salinas Telecom realizó transferencias rápidas de activos fuera de Estados Unidos solo tres días después de la sentencia.

Según los informes, 10,25 millones de dólares en acciones de Grupo Elektra fueron transferidos desde una correduría en EE.UU. a Banco Azteca en México. Además, se enviaron 5,65 millones de dólares a una entidad canadiense, Security International Investments, Inc., que supuestamente está vinculada a Salinas Pliego. También se han documentado otras transferencias y liquidaciones de activos que superan los 10 millones de dólares.

Por “razones estratégicas”, Salinas Pliego decidió no contar con representación legal en este caso, lo que ha sido interpretado como un intento de evitar el pago de la sentencia judicial. Esta acción, junto con el historial de las empresas de Salinas Pliego de alegar dificultades financieras para no pagar a sus acreedores, plantea serias preocupaciones sobre la transparencia y gobernanza en Grupo Elektra.

Salinas Pliego tiene un historial extenso de conductas financieras controvertidas, que incluyen acusaciones de fraude de valores, disputas por impuestos no pagados y deudas con acreedores. Sus recientes movimientos, incluidos los rápidos traslados de activos fuera de la jurisdicción estadounidense, han atraído un mayor escrutinio por parte de reguladores financieros y acreedores.

Astor Asset Management 3 Ltd también está involucrada en litigios con Salinas Pliego en el Reino Unido por el incumplimiento de un préstamo de 110 millones de dólares.

A medida que los mercados exigen cada vez más transparencia y responsabilidad, la gestión de estos asuntos legales y financieros por parte de Salinas Pliego será vigilada de cerca por inversores y reguladores.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Statements, Funds, Investment, Money, Revenues, Stocks, Trading

The resolutions from Digi Communications N.V.’s general shareholders’ meeting held on 18 Aug 2023

BUCHAREST, Romania, 18-Aug-2023 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) would like to inform the market and its investors that today, Friday, 18 August 2023, at 2:00 PM CET, at the offices of Freshfields Bruckhaus Deringer LLP (Amsterdam Office), Strawinskylaan 10, 1077 XZ Amsterdam, the Netherlands, the Company’s general shareholders’ meeting (the GSM) took place with respect to which the Company informed its shareholders and the market through the Convocation notice released on 7 July 2023 (the Convocation Notice).

The GSM was attended by shareholders representing 74,03% of the total number of shares with voting rights, respectively 70,458,884 shares.

Following the debates, the GSM has adopted the following decisions regarding the points included on the agenda, in accordance with the Convocation Notice:

  1. The Annual Report of the Company for 2022 (item 2 from the Convocation Notice):
    c. Adoption of the 2022 Annual Accounts;
    d. Distribution of dividend – based on the approval, the Company will distribute a gross dividend of 1 RON per share, ex-date –30 August 2023 and the record date being 31 August 2023.
    It is expected that the payment date will be on or around 14 September 2023;
    e. Release from liability of the members of the Board of Directors.
    The investors and the market were informed of the 2022 financial results starting with 5 July 2023 when the 2022 annual report was published.
  2. Remuneration Report for 2022
    The general meeting approved by an advisory, non-binding vote the Remuneration Report for 2022 made public on the Company’s website. The Remuneration Report for 2022 is construed according to the provisions of EU Directive 828/2017 as implemented in The Netherlands.
  3. Appointment of Statutory Auditor for the 2023 financial year
    The general meeting approved the appointment of KPMG Accountants N.V. as the statutory auditor of the Company for the financial year ending 31 December 2023.
  4. Designation of the Board of Directors as the competent body to repurchase own Class B Shares
    The general meeting approved the designation of the Board of Directors as the competent body to repurchase own class B shares. In accordance with article 10 of the articles of association, the general meeting granted the Board of Directors the authority to acquire class B shares in the share capital of the Company through purchases effected on the stock exchange via trading on the regular market on which the class B shares are listed and/or through other means (including public tender offers), for a period of 18 months from the date of this general meeting, i.e. up to and including 17 February 2025, in compliance with the applicable law, subject to the following conditions:
    • the authority of the Board of Directors shall be limited to a maximum of 3,000,000 class B shares;
    • transactions effected on the stock exchange via trading on the regular market on which the class B shares are listed will be subject to a maximum price per class B share equal to the average of the highest price on each of the five trading days prior to the date of acquisition, as shown in the Official Price List of the Bucharest Stock Exchange plus 10% (maximum price) and to a minimum price per class B share equal to the average of the lowest price on each of the five trading days prior to the date of acquisition, as shown in the Official Price List of Bucharest Stock Exchange minus 10% (minimum price);
    • transactions effected through other means (including public tender offers) will be subject to a maximum price per class B share of RON 40 (maximum price) and a minimum price of no less than RON 35 (minimum price).

Any buy-back of shares will be conducted by way of a share buy-back program in line with applicable EU rules. The launch of such program and the determination of its terms and conditions is subject to a decision of the Board of Directors. The Board of Directors intends to appoint an independent specialized trading / brokerage firm to execute any such buyback. Further, any buy-back program may be suspended, discontinued or modified at any time for any reason and without previous notice in the Company’s sole discretion in accordance with applicable laws and regulations. Neither the authorization requested, nor the subsequent launch of any share buy-back program obligates the Company to buy-back any class B shares.

The voting results of the GSM, as well as other relevant information on the GSM and the related documents are available on the Company’s website at the section dedicated to the 2023 GSM: https://www.digi-communications.ro/en/corporate/general-share-holders/digi-communications-n-v-gsm-2023

About Digi Communications N.V.

We are an European leader in geographically-focused telecommunication solutions, based on the number of revenue generating units (“RGUs”) and a leading provider of telecommunication services in Romania and Spain, with a presence also in Italy and Portugal.

SOURCE: EuropaWire

Business, Financial, Financial Information, Financial Statements, Investment, Money, Revenues, Stocks, Trading

Digi Communications N.V. approves the distribution of an interim dividend

BUCHAREST, Romania, 1-Sep-2022 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform its investors and the market that on September 1, 2022 the Company’s Board of Directors approved the distribution of a gross dividend in cash of 0.85 RON per outstanding share, which totals to an amount of RON 80,711,251.05, equivalent to approximately EUR 16,605,544.92, translated at the exchange rate reported by the National Bank of Romania applicable on 31.08.2022.

The class B shares will be quoted ex-dividend from 13 September 2022 and the record date for the dividend shall be 14 September 2022. It is expected that the dividend will be paid on or around 28 September 2022.

The Company also informs the market and investors that, due to a longer than initially estimated audit process, the Company will not publish its statutory consolidated and stand-alone financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union (“EU”) and Part 9 of book 2 of the Dutch civil code, on 16 September, as previously announced and that, consequently, the Company’s General Shareholders Meeting will be postponed. We expect to publish the financial statements in the first week of October.

About Digi Communications NV

We are a European leader in geographically-focused telecommunication solutions, based on the number of revenue generating units (“RGUs”) and a leading provider of telecommunication services in Romania and Spain, with a presence also in Italy and Portugal.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Management, Financial Services, Financial Software, Financial Solutions, Investment, Personal Finance

Luxembourg fund servicing firm Fidupar goes live with Framework’s investment and operations platform

LONDON, 13-Dec-2021 — /EPR FINANCIAL NEWS/ — Framework, a specialist provider of middle and back-office technology for private markets, announces today that Luxembourg based fund advisory and administration company Fidupar S.A. is now live on Framework Core (Core) to support their Investor Services, Fund Accounting, General Ledger, and Reporting functions. Having implemented Core, Fidupar, who has seen a surge of interest in its services, can deliver sophisticated investor services to its clients, as well as an improved way to navigate the changes to existing and new regulations within the private assets market.

Nicolas Montagne, Managing Director of Fidupar, said: “Framework’s dedication in supporting and ensuring a smooth transition to our new robust platform was second to none, they clearly listened to our needs and upcoming challenges as a fund servicer. We are confident that with Core in place our clients can expect superior service. Choosing Framework as a software partner was the right decision for our business.”

With Core now embedded, Fidupar has access to a powerful tool that optimises its operational efficiency for its administrative functions, including transaction management, accounting and valuations – on a secure and open architecture cloud-hosted platform. Core also incorporates robust and flexible reporting capabilities and shareholder services including automated investor communications.

In addition to a favourable legal and tax regime, one of the main draws of Luxembourg is the highly-skilled, multilingual staff who can provide tailor-made services for international clients as are found at Fidupar. This commitment to responsiveness and focusing on the needs of customers was an attribute that Fidupar recognises in Framework too.

Craig Tyzack, Head of Delivery & Operations of Framework added: “Working with the Fidupar team allowed us to solidify the reasons they chose Framework as their software provider throughout the implementation process. We focused on understanding Fidupar’s requirements and used our industry knowledge to customise our solution to those needs. Delivering a user-friendly, robust platform to our clients is paramount.”

About Framework
Framework, founded in 2000, is a specialist provider of middle and back-office technology for private markets. Since being acquired by BRD Investments in 2016, Framework is committed to advancing open, flexible digital solutions for asset owners, managers and administrators and the evolution of private asset funds. A significant number of platform and product enhancements have been undertaken, many specifically to address the current and future requirements of leading sophisticated private asset administrators.

Framework holds a leading position with Development Bank customers in Europe and North America and in particular the UK, and services several industry-leading independent or bank-owned asset managers in Europe and the Middle East.

About Fidupar
Part of the Elate Group, Fidupar was formed at the beginning of 2000 by the contribution of the activity of the financial engineering departments of two major banks in the Luxembourg financial centre.

By focusing on the needs of our customers, we have grown considerably with the deep commitment to our historical values: responsiveness, creativity, commitment, and ambition, while maintaining a high level of ethics.

With multilingual staff specialised in different sectors, we provide tailor-made services for our international clients. Our multidisciplinary teams work in close collaboration with our clients in the realization of their projects.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Revenues, Trading

Digi Communications N.V. to hold EGM for the appointment of KPMG N.V. as its Statutory Auditor for FY2021

BUCHAREST, Romania, 23-Sep-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform the market and its investors that today, 23 September 2021, the Board of Directors of the Company convenes the extraordinary general meeting of shareholders (the “EGM”) of the Company (Digi Communications N.V.), to be held on Thursday, 4 November 2021 at 12:00 p.m. CET (13:00 p.m. EET), at the offices of Freshfields Bruckhaus Deringer LLP (Amsterdam office), Strawinskylaan 10, 1077 XZ Amsterdam, The Netherlands.

The EGM is convened in order to appoint KPMG N.V. as the Company’s Statutory Auditor for the financial year 2021, replacing the Company’s former statutory auditor (i.e., Ernst & Young Accountants LLP) that was appointed by the annual general meeting of 18 May 2021. This proposal follows Ernst & Young Accountants LLP’s decision to cease their services due to reasons not related to the Company.

Ernst & Young Accountants LLP’s notification occurred outside of the typical financial reporting cycle and, as a result, the Company expects to be late with the issuance of 2021 statutory audited financial statements, also for reasons related to standard audit procedures and inherent processes and requirements related to onboarding of new clients by an audit firm.

On or before 31 July 2022, the Company estimates that it will publish the audited statutory consolidated and stand-alone financial statements issued in accordance with Dutch accounting standards applicable to our Company (i.e., IFRS as adopted by the European Union and Part 9 of book 2 of the Dutch civil code). The annual General Shareholders Meeting to, inter alia, approve the statutory consolidated and stand-alone financial statements will then only be convened upon publication of the same.

Nevertheless, the Company will disclose to the market the relevant management information, including management accounts on 30 April, 2022. Therefore, the Company will publish the 2021 annual report accompanied by audited non-statutory consolidated financial statements issued in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union.

The topic of the EGM is the proposal of KPMG N.V. as the Company’s statutory auditor for the 2021 financial year.

We kindly invite investors to visit the Company’s website at http://www.digi-communications.ro/en/general-share-holders (for English readers) and at http://www.digi-communications.ro/ro/aga (for Romanian readers) to review the documentation package for the EGM.

The document named ‘Agenda and explanatory notes’ contains a detailed description regarding the item for the EGM.

Any shareholder interested in attending or voting at the EGM needs to follow the procedures set out in the articles of association of the Company (available at http://www.digi-communications.ro/en/corporate-governance) and on the ‘Convocation Notice’ available at http://www.digi-communications.ro/en/general-share-holders). The shareholders will also be provided with the possibility to cast their votes via Evote by ING (please see the convening notice attached this report).

SOURCE: EuropaWire

Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Stocks

Digi Communications N.V. approves 39,000 stock options for RCS&RDS employees

BUCHAREST, Romania, 25-Aug-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform the market and its investors that the Company’s Board of Directors has approved the grant of a number of 39,000 stock options within the stock option programme granted to the benefit of employees of the Company’s Romanian subsidiary, RCS&RDS S.A, pursuant to the Company’s Stock Option Plan.

The vesting of the options is conditional upon the fulfilment of the performance criteria, with the vesting period being set at a minimum of 1 year as of the grant date.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Revenues, Stocks, Trading

Digi Communications NV H1 2021 Financial Results released

BUCHAREST, Romania, 13-Aug-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that the H1 2021 financial results are available on the Company’s website.

For details, please see:

https://www.digi-communications.ro/en/investor-relations/shares/financial-results-shares/half-year-reports-shares

Also, today at 14:00 UK time/ 16:00 EEST (Romania local time) it will host a conference call to discuss the H1 2021 Financial Results.

To participate please follow the instructions from our website: https://www.digi-communications.ro/en/see-file/Conference-Call-presentation-H1-2021_Financial-Results_log-in-details.pdf and pre-register for the call. The deadline for pre-registration is until 12:00 UK time/ 14:00 EEST (Romania local time).

SOURCE: EuropaWire

Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Stocks, Trading

Digi Communications NV grants conditional stock options to several of its Directors

BUCHAREST, Romania, 20-May-2021 — /EPR FINANCIAL NEWS/ — The Company would like to inform the market and its investors that, on 19 May 2021, Mr. Serghei Bulgac (Chief Executive Officer and Executive Director of the Company), Mr. Valentin Popoviciu (Executive Director of the Company) and Mr. Bogdan Ciobotaru (Non-Executive Director of the Company) have been granted by the Company conditional stock options pursuant to the decision of the Company’s general meeting of shareholders dated 18 May 2021. The total number of options of class B shares granted as part of this stock option plan (applicable for the year 2021) amounts to 160.000. The further vesting of all option shares granted will be conditional upon several performance criteria and the passage of a minimum duration of 1 year.

More details regarding the stock options granted to each of the above-mentioned Directors are available on the Company’s website at https://www.digi-communications.ro/en/see-file/Agenda-and-explanatory-notes-1.pdf (the Agenda and Explanatory notes published by the Company on 6 April 2021, Annex I and II).

In accordance with the applicable regulations, on 19 May 2021, Mr. Serghei Bulgac, Mr. Valentin Popoviciu and Mr. Bogdan Ciobotaru, as persons discharging managerial responsibilities in connection with the Company, have notified the Company and the Romanian Financial Supervisory Authority in connection with the grant of the above-mentioned stock options and the execution between each of them and the Company of corresponding stock option agreements.

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Revenues, Stocks, Taxes

Digi Communications N.V. amends its 2021 Financial Calendar

BUCHAREST, Romania, 6-May-2021 — /EPR FINANCIAL NEWS/ — DIGI COMMUNICATIONS NV would like to inform its investors and the market that an Amendment to the 2021 Financial Calendar, is available on the Company’s official website (Investor Relations Section/Financial Calendar):
https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Revenues, Stocks, Trading

Digi Communications N.V. to host Q1 2021 Financial Results conference call on 17 May 2021

BUCHAREST, Romania, 6-May-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (“Digi” or the “Company”) announces that on 17 May 2021 at 14:00 UK time / 16:00 EEST (Romania local time) it will host a conference call to discuss the Q1 2021 Financial Results.

To participate please follow the instructions from our website: https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar and pre-register for the call. The deadline for pre-registration is until 12:00 UK time / 14:00 EEST (Romania local time) on 17 May 2021.

A recording of the conference call will be available on our website for 30 days: www.digi-communications.ro

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Revenues, Stocks, Trading

Digi Communications N.V.’s 2021 Annual General Shareholders Meeting will be held on 18 May 2021

BUCHAREST, Romania, 6-Apr-2021 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. (The Company) would like to inform the market and its investors that today, 6 April 2021, the Board of Directors of the Company convenes the general shareholders meeting (the “GSM”) of the Company (Digi Communications N.V.), to be held on Tuesday, 18 May 2021 at 14:00 p.m. CEST (15:00 p.m. EEST), at the offices of Freshfields Bruckhaus Deringer LLP (Amsterdam office), Strawinskylaan 10, 1077 XZ Amsterdam, The Netherlands.

The main topics for the GSM are the following:

-discussion and approval items on the 2020 Annual Report (including the annual report, the financial statements – consolidated and stand-alone – and the auditor report);
-approval of the distribution of a gross dividend of RON 0.75 per share; ex-date – 2 June 2021, the record date for the dividend – 3 June 2021, and the payment date on or around – 14 June 2021;
-release from liability of the members of the Board of Directors;
-remuneration report for 2020 (advisory, non-binding vote);
-appointment of the statutory auditor for the the financial year ending December 31, 2021;
-designation of the Board of Directors as the competent body to repurchase own Class B Shares;
-approval of award of stock options to executive and non-executive directors.

We kindly invite the market to visit the Company’s website at
http://www.digi-communications.ro/en/general-share-holders (for English readers) and at http://www.digi-communications.ro/ro/aga (for Romanian readers) to review the documentation package for the GSM.

The above-mentioned section from the Company’s website also contains the English and Romanian complete versions of the 2020 Annual Report, the 2020 Consolidated and Stand-alone Financial Statements of the Company, as well as the Independent Auditor’s Report.

The document named ‘Agenda and explanatory notes’ contains detailed descriptions regarding the items for the GSM.

Any shareholder interested in attending or voting at the GSM needs to follow the procedures set out in the articles of association of the Company (available at http://www.digi-communications.ro/en/corporate-governance) and on the ‘Convocation Notice’ available at http://www.digi-communications.ro/en/general-share-holders).

Also, the Company would like to announce that Digi Communications N.V. Group’s Annual Report for the year ended December 31, 2020 is available starting with April, 6 2021 also on the Company’s website (www.digi-communications.ro), under the section Investor Relations.

ANNUAL GENERAL MEETING OF DIGI COMMUNICATIONS N.V. (THE COMPANY) TO BE HELD ON TUESDAY, 18 MAY 2021, AT 14:00 PM CEST AT THE OFFICES OF FRESHFIELDS BRUCKHAUS DERINGER LLP (AMSTERDAM OFFICE), STRAWINSKYLAAN 10, 1077 XZ AMSTERDAM, THE NETHERLANDS

AGENDA

1. Opening
2. Annual Report 2020

a. Board report 2020 (discussion item)
b Dividend and Reservations Policy (discussion item)
c. Adoption of the 2020 Annual Accounts (voting item)
d. Distribution of dividend (voting item)
e. Release from liability of the members of Board of Directors (voting item)

3. Remuneration Report for 2020
Remuneration Report for 2020 (advisory, non-binding vote)
4. Appointment of Statutory Auditor
Proposal to appoint Ernst & Young Accountants, LLP, Netherlands as the statutory auditor of the Company for the financial year 2021 (voting item)
5. Designation of the Board of Directors as the competent body to repurchase own Class B Shares
Designation of the Board of Directors as the competent body to repurchase Class B Shares (voting item)
6. Approval of award of stock options to executive and non-executive directors. Authorize the Board of Directors to decide upon the award of stock options to executive and non – executive directors of the Company (voting item)

7. Close of Meeting

SOURCE: EuropaWire

Assets, Business, Financial, Financial Information, Financial Management, Financial Statements, Investment, Money, Stocks, Trading

Changes in Digi Communications N.V. 2021 Financial Calendar

BUCHAREST, Romania, 10-Mar-2021 — /EPR FINANCIAL NEWS/ — DIGI COMMUNICATIONS N.V. would like to inform its investors and the market that an Amendment to the Financial Calendar for 2021 is available on the official website (Investor Relations Section/Financial Calendar): https://www.digi-communications.ro/en/investor-relations/shares/financial-calendar

SOURCE: EuropaWire

Financial, Financial Education, Financial Services, Forex, Investment, Money, Trading

Un leader innovativo nel trading forex online Orbex annunciato una partnership strategia con l’Università LUM Jean Monnet

CYPRUS, 24-Aug-2016 — /EPR FINANCIAL NEWS/ — Orbex, un leader innovativo nel trading forex online, ha annunciato quest’oggi una partnership strategia con l’Università LUM Jean Monnet, un’università privata italiana, conosciuta in tutto il mondo e altamente stimata come centro di formazione economica. La partnership unirà l’esperienza di Orbex nelle soluzioni di trading e nell’analisi di mercato con l’approccio scientifico avanzato della LUM nello sviluppo economico.

Questa partnership risponde alla domanda nel settore di professionisti di alto calibro in materia di trading e soluzioni di investimento multi-target di prossima generazione, qualità che possono essere sviluppate solo tramite progetti di ricerca collaborativa.

L’iniziativa di Orbex è una risposta olistica alle sfide che il settore pone. Orbex espanderà il programma formativo del Master in Analisi finanziaria e di borsa e contribuirà con la sua conoscenza pratica dei mercati internazionali. Gli specialisti di Orbex hanno preparato un programma speciale per gli studenti del Master, che prevede anche seminari teorici e pratici e webinar. Inoltre, gli studenti avranno libero accesso a tutto il materiale formativo della società, trasformando così il centro formativo Orbex in un polo di innovazione e scambio di idee.

La comunità di trading, a sua volta, avrà l’opportunità unica di attingere direttamente dalle conoscenze degli studi scientifici più recenti e di imparare dai più autorevoli docenti di economia.

Kira Vessiari, Content Manager di Orbex, è convinta che “Orbex sta compiendo un passo significativo nel realizzare la propria visione di diventare la destinazione online preferita per una formazione nel trading di qualità. Questa partnership con l’Università LUM ha il potenziale di dare vita a nuovi approcci verso il trading e siamo entusiasti delle nuove opportunità che questa collaborazione offrirà a Orbex per avanzare progressivamente.”

Edoardo Ciampelletti, Desk italiano di Orbex, ha dichiarato: “Abbiamo osato unire quella che è sempre stata vista come una sfera strettamente accademica con una sfera giudicata puramente pratica e tecnologica. Credo proprio che grazie a questa collaborazione possiamo dare vita a una vera e propria rivoluzione nella formazione del trading.”

Professor Adriano Carenza, Università LUM: “Il Master mira a formare professionisti che possono offrire supporto a istituti finanziari, in prevalenza banche, SGR, SIM e SICAV, nel processare e monitorare piani operativi finanziari e strategici, così come sistemi di organizzazione e riconoscimento dei rischi degli strumenti finanziari. Orbex ha voluto riconoscere la qualità e la visione di questo progetto formativo firmando una partnership con la Scuola di Management della LUM, che attraverso lezioni, webinar, seminari ed esercizi, si pone come obiettivo uno sviluppo sostenibile del mercato globale dei servizi di trading online e di creare un nuovo tipo di operatore finanziario. Completando il corso, i nuovi professionisti avranno acquisito capacità versatili nel settore della finanza pura.”

###

SOURCE:  EuropaWire

Business, Financial, Financial Management, Financial Services, Financial Solutions, Insurance, Money, Personal Finance

Another £400m Into RBS’ PPI Compensation Fund, Says Missoldppiclaims.info

The Royal Bank of Scotland has earmarked an additional £400m to cover the cost of compensation and refunds relating to mis-sold payment protection insurance (PPI), says leading PPI Claims Company Missoldppiclaims.info.

The nationalised bank has released figures for the last quarter showing a pre-tax loss of£1.26bn, a proportion of which is due to the allocation of a further £400m to its PPIcompensation fund. In a move echoed around the banking industry in recent months, RBS now has increased its total PPI allocation to now stand at £1.7bn. However, it is unlikely to be the end of the compensation claims for the beleaguered bank.

Its recent computer problems resulted in significant numbers of RBS, Natwest and Ulster Bank customers being locked out of their accounts for days, a mistake which has cost£175million so far with a further £50m of compensation put aside.

RBS is also part of an investigation by regulators in the UK, US and Asia – including the fraud division of the US justice department – over the part it played in the manipulation of the LIBOR inter-bank lending rate. With settlement negotiations imminent, the fines that could potentially be applied RBS believe could have a “material” impact on the company.

Despite the problems, RBS showed operating profits for the third quarter increased from£650m to £1bn, while bad debt fell by £159m and staff costs were 5% lower due to a 7% reduction in staff.

Stephen Hester, chief executive of RBS, said: “The extraordinary challenges which RBS faced following the financial crisis are being worked through successfully. The five year restructuring plan is now in its later stages with important work still to do, including an emphasis on dealing with reputational issues now that the bank’s safety and soundness has advanced so well.”

A spokesperson for leading PPI Claims Management Company, Missoldppiclaims.info said: “It’s good to see RBS recognising its responsibilities towards customers that were mis-sold PPI policies, in particular the responsibility to put customers first and treat them fairly. This can be seen in its decision to increase lending to its business customers even though there was a downturn in loan applications, but it would be good to see a similar helpful response to borrowing for its non-business customers with personal loans and residential mortgages.

The reputational issues Mr Hester refers to are likely to be industry criticisms that RBS customers play second fiddle to the short-term interests of shareholders and staff. As a result, RBS has relaxed its lending position towards its small and medium (SMEs)businesses, which has led to a an increase of new lending by 3% since the second quarter despite a 25% drop in SME loan applications due to the Olympics and doubts over the stability of the UK economy.

Analyst Richard Hunter, head of equities at Hargreaves Lansdown, said: “There is no doubting the immensity of the task RBS has faced in executing its turnaround plan, nor indeed the progress made so far.”

Via EPR Network
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Financial, Financial Information, Financial Services, Home Equity, Loans, Money

EquityRelease.net Publishes New Beginners Guide Factsheet For Equity Release Mortgages

The equity release resource website EquityRelease.net is pleased to announce that they have added The Essential Equity Release Factsheet to the website to provide UK residents with a concise and easy-to-read introduction to equity release schemes in the UK. EquityRelease.net is an independent equity release information resource website that provides a detailed information resource of equity release as well as free equity release advice and quotes.

Many older UK residents look forward to retirement as a time when they can engage in hobbies and activities that were not possible when they worked. Unfortunately, there is growing concern over whether people’s pension and retirement savings are enough to maintain their standard of living and spend their time as they please. As many retiring homeowners look into equity release as a means to provide the income they desire in retirement, the information website EquityRelease.net hopes to answer their basic questions with the addition of “The Essential Equity Release Factsheet” to the website.

“Our goal as always is to help older UK residents understand how equity release in their homes actually works, and the new infographic reduces our voluminous information contained on the website to its most basic terms, primarily using graphics to explain how equity release works,” said an EquityRelease.net representative.

As an introduction to equity release, the fact sheet begins by explaining the basic nature of home equity release. The equity of a home is the current value on the open market minus the debts held against it. Equity release allows the homeowner to obtain cash for this value without having to move out of their home. Equity release is for individuals over the age 55 who own property valued at around £70,000 or more, and most schemes also stipulate a minimum and maximum amount that can be released.

A common question answered by the fact sheet is who can take advantage of equity release. The new infographic shows the general profile of people that routinely take advantage of equity release as well as the eligibility requirements that they must meet to qualify. Many people have a fear of losing their home with equity release schemes so the fact sheet explains the limited risk of losing a home and how it can be avoided.

When it comes to the basics of releasing equity, readers will learn about its two forms, which include lifetime mortgages and home reversion plans, which are both approved and regulated by the Financial Services Authority (FSA). While the Essential Fact Sheet infographic is meant to be an introduction to equity release, readers can find far more detailed information on the website about all aspects of equity release. Website visitors can also take advantage of free advice and a quote provided by one of their specialists. For more information, please visit http://www.equityrelease.net/

Via EPR Network
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Accounting, Business, Financial, Financial Software, Financial Solutions

Lyon Equipment’s New Supply Chain Solution Will Eliminate Paper Job Cards And Move Document Management Online

Outdoor pursuits and training specialists Lyon Equipment is future-proofing its organisation with a new ERP solution from Access which will automate many manual processes, increase efficiency, and move document management online. The 40 user Access Supply Chain solution is part of a modernisation process Lyon is going through which includes a £3.5 million investment in a new building.

Access’ manufacturing and supply chain offering will revamp Lyon’s returns and manufacturing processes, and support the company as it continues to grow over the next ten years. Rick Cockayne, IT project manager at Lyon, said, “Our business is growing and Access Supply Chain offered us the flexibility to support our planned growth. We were also very impressed with the integrated document management system.”

With two arms to the business; distribution & wholesale, and training courses, as well as some manufacturing there are a lot of paper-based processes in place. “We’re going to be putting everything online from equipment specs and training details to sales invoices and purchase orders. Our manufacturing job cards are currently hand written, and not easily tracked. We’ll be using Access to generate job cards directly from sales orders and track them through to completion. We will therefore be able to easily report on them on a continual basis with no additional effort.” continued Rick.

The new solution will also allow Lyon to modernise its returns system, saving a lot of time and effort. “We currently have a separate returns data base which means there is additional work re-keying information into our current accounts software. With Access Supply Chain we’ll use workflow forms to create a tailored returns system to our design. This will mean we can easily process the return all the way through to credit or replacement all on the one system, removing the additional work and reducing the chances of keying in errors. This will greatly improve the efficiency and simplify the reporting of our returns processing.” said Rick.

“We liked the look and feel of Access Supply Chain from the start, and theflexibility of the product was also a huge plus point. It’s easy-to-use and has more in it than a lot of the other solutions we looked at. It also filled us with confidence to work with the UK author of the product who we felt were willing to look after our needs from the moment we engaged with them,” Rick concluded.

Via EPR Network
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Business, Financial, Financial Information, Financial Management, Investment, Money

APT Publish New Whitepaper on Risk Management

The technology firm APT have just published a new whitepaper. The paper discusses the issues associated with analysing risk in multi-asset class investments.

APT work to offer risk management solutions to investors, and have much experience behind them in doing so. They work with many different groups involved in investment, such as private wealth managers, hedge fund managers, brokers and others. They provide them with the kind of quality, evidence-based risk management they need. It is against this background that APT publishes this whitepaper, which looks at how investors working across multiple asset classes can best mitigate their risks. The paper is called ‘Building a Multi-Asset Class Model: the Commodities Example – Correlation is the Key’.

APT’s solution to the specific risks involved in multi-asset class investments is scenario-based risk management. Such products can help investors by offering them a solution based on thorough research, which responds clearly to events, and is flexible, to meet changing needs. APT recognise that markets will always undergo shocks and dislocations, and that this means that good risk management is important. Analysis of how and why these shocks happen helps to contribute to this risk management. This is APT’s approach: real research that looks at real research to help investors manage risks well. When looking at mulit-asset class investment, risk management needs to look at how the different asset classes may correlate, and also how to recognise that the management of risk is only really effective if separated from the attribution of risk.

Via EPR Network
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Debts, Financial, Financial Information, IVA, Loans, Money, Personal Finance

Pensioners Suffering As The Money Runs Out, Says Debt Solutions Company Trust Deed Scotland

A new report reveals that pensioners across the UK are being left penniless as their money disappears every week in a whirlwind of bills, says Debt Solutions Company, Trust Deed Scotland.

An income of £207.15 per week is typical for most pensioned couples, but a report by Standard Life shows it goes straight back out the door as £207.24 is spent on food, fuel, housing and transport.

The report highlights rising inflation as the reason why the average pensioner has difficulties making ends and are being hit hard – many are having issues even affording a new pair of shoes, a holiday or a present for a grandchild.

While the Consumer Price Index remained the same in September at 4.5%, the Retail Price Index was hovering at 5.2% and threatening to rise again. Pensioner have a fixed income that doesn’t change from month to month, and that combined with inflation and large energy rises from utilities companies means turn some have turned towards credit cards to make ends meet.

A spokesperson for Scottish Debt Solutions Company, Trust Deed Scotland, said:
“According to Age UK, British pensioners are the fourth poorest in Europe, with the worst off set to lose up to 22% of their household income because of cuts to local authority services and changes to the tax and benefits system. This report highlights the dire position our parents and grandparents are in. At a time when they should be relaxing after a lifetime of working, they are pinching pennies and worrying about what the future will hold for them.”

The day before Standard Life published its report, the Institute of Fiscal Studies issued a warning about how ‘real’ inflation was hitting pensioners much harder than younger age groups.

“The Insolvency Service reported the fastest rising group of people claiming insolvency is pensioners,” said the spokesperson. “They are six times more likely to go bankrupt or take out a debt solution such as a Scottish Trust Deed or Debt Arrangement Schemethan they were just a decade ago. The number of people entering retirement with unpaid debts has increased, and when combined with increased life expectancy, the recession and limited options to increase income when you retire, it adds up to a lot of older people in real trouble”.

According to the Consumer Credit Counseling Service the average unsecured debt of newly retired pensioners is £21,370 and few have any savings at all. Once all the bills have been covered, there’s just £85 left at the end of the month.

“There are numerous reasons why pensioners are entering retirement in debt,” said the spokesperson. “Previous good house values led to many people remortgaging for home improvements or to loan to children or grand children for house deposits. There’s also the issue of divorce, where one partner will often buy the other out of their share of the property by extending their mortgage. And then some people are marrying and having families much later in life or having second families in their fifties.”

“For many life as a retiree in today’s world is just as expensive as it was when they were working, but now they have less income to live on.”

Via EPR Network
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Banks, Checking & Savings, Financial, Financial Education, Financial Services, Loans, Money

MidCountry Financial Hires Chief Accounting Officer – Adds Additional Planning, Compliance, And Industry Experience To Seasoned Executive Team

MidCountry Financial Corp. (MCFC) is pleased to announce that Darren Cantlay has joined the executive team as Vice President of Accounting and Finance, and Chief Accounting Officer. In this newly-created position, Cantlay will manage all financial reporting, budgeting, financial systems, and tax functions for MCFC, among other things, and will also assist with strategic planning and overall financial management for the organization. Cantlay begins his new role Sept. 1, 2010.

“We’re extremely excited to have Darren join the MidCountry Financial family,” said David Hall, chief financial officer for MCFC. “He brings a diverse and extensive set of financial skills to the company, and he will be a valuable asset as we continue to grow and expand our organization.”

Cantlay has more than 15 years of experience handling a variety of accounting, compliance, planning, and operational issues for a variety of financial institutions, including McIntosh Bancshares, the Bank of Ellijay, Appalachian Bancshares, and United Bank Corporation. He has previously held the positions of chief financial officer, chief operating officer, controller, and accountant.

A graduate of Valdosta State University, Cantlay has been an adjunct faculty member at Griffin Technical Institute, where he taught both accounting and tax courses. He is a member of the Georgia Society of Certified Public Accountants, the American Institute of Certified Public Accountants, the Institute of Management Accountants, the Georgia Bankers Association Asset Liability Committee, and was Secretary of the Gilmore County Rotary Club from 2008-2009.

Via EPR Network
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Financial, Financial Services, Insurance, Insurance Services, Personal Finance

Insure4USA.com Goes Social With Twitter for Expands Social Outreach

Insure4USA.com, a leading independent online insurance service has adopted social networking site, Twitter, to keep in close contact with its growing list of followers. According to Alex, CEO of Insure4USA.com, the insurance industry thrives on information and communication. Moreover, the industry is best suited to leverage social networking to the fullest. A huge workforce, a client base of various ages, and the constant need to liaise with various partners such as doctors, claims adjusters, and regulators, to name a few, can be best met through social networking.

Alex says, “People have changed the way they access information online and seek quicker and more personal attention when they look for affordable insurance. There is a variety of information to share with our customers concerning changes in insurance rules, policy updates, quotes, and much more. In this respect we found Twitter to be a powerful tool that reaches not only peoples computers, but their cell phones as well.”

No longer does the industry need to take a conservative approach to new technologies and business practices. Social networking is all about sharing information, and when it comes to an important issue like life, health, or even auto insurance, Insure4USA.com feels it must go the full distance to enhance internal communication. The website now whole-heartedly embraces social networking and plans to expand its horizons to other sites as well.

Via EPR Network
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