Debt Finance – CTXETG http://ctxetg.com/ Mon, 20 Jun 2022 05:55:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ctxetg.com/wp-content/uploads/2021/06/icon-150x150.png Debt Finance – CTXETG http://ctxetg.com/ 32 32 Dartmouth eliminates student loans for undergraduates https://ctxetg.com/dartmouth-eliminates-student-loans-for-undergraduates/ Mon, 20 Jun 2022 05:16:27 +0000 https://ctxetg.com/dartmouth-eliminates-student-loans-for-undergraduates/ Donating financial aid through The Call to Lead campaign has reinforced Dartmouth’s commitment to making a college education accessible and affordable to the most promising and talented students around the world and from all economic backgrounds. “Thanks to this extraordinary investment from our community, students can prepare for lives of impact with fewer constraints,” says […]]]>

Donating financial aid through The Call to Lead campaign has reinforced Dartmouth’s commitment to making a college education accessible and affordable to the most promising and talented students around the world and from all economic backgrounds.

“Thanks to this extraordinary investment from our community, students can prepare for lives of impact with fewer constraints,” says President Hanlon. “Eliminating loans from financial aid programs will allow Dartmouth undergraduates to pursue their purpose and passion in the widest possible range of career opportunities.”

Two recent donations capped efforts to eliminate student debt through the campaign. In May, Anne Kubik ’87, a member of the President’s Commission on Financial Aid and an early supporter of the initiative, added $10 million to an earlier pledge to bring the effort closer to reality. An anonymous donor then committed $25 million to complete the campaign, establishing one of the largest scholarship endowments in Dartmouth history.

“Our gratitude for these extraordinary acts of generosity knows no bounds,” said President Hanlon.

“Both donors have told me of their enthusiasm for ensuring that more applicants can pursue an education at Dartmouth without worrying about their financial means.”

– President Philip J. Hanlon ’77

Currently, Dartmouth undergraduates from families with annual incomes of $125,000 or less and with typical assets are offered need-based aid with no loan component required. Dartmouth now waives the loan requirement for undergraduate students from families with annual incomes over $125,000 who receive need-based financial aid. This will reduce the debt burden of hundreds of middle-income Dartmouth students and their families by an average of $22,000 over four years. This will in turn open up opportunities for recent graduates to consider career opportunities or higher degrees that they might not otherwise have been able to pursue.

More than 65 families have supported the campaign’s goal of eliminating loan requirements from Dartmouth’s undergraduate financial aid scholarships, committing more than $80 million in donations to the endowment.

“This gift honors Dartmouth’s tradition of service,” says Kubik.

“Over the years, I’ve been fortunate to serve alongside alumni who dedicate hundreds of hours to making Dartmouth stronger for future students. The presidential commission embodied the best of this altruism of the elders. Dartmouth is more welcoming than ever because of it.

-Anne Kubik ’87

Successful applicants to the Class of 2027 will be the first undergraduate students to enroll through this historic investment in Dartmouth’s endowment.

Over the past week, members of the Dartmouth community have rallied to pledge an additional $5 million to eliminate required loans in financial aid scholarships for all current AB students, many of whom have seen their university experience disrupted by the global pandemic. President Hanlon thanked several families for their commitment to extending the no-loan policy to current students: Dana Banga and Angad Banga ’06; Leslie Davis Dahl ’85 and Robert Dahl; Katherine Dunleavy and Keith Dunleavy ’91; Karen Frank and James Frank ’65 (in honor of Peggy Epstein Tanner ’79); Julie McColl-McKenna ’89 and David McKenna ’89; Hadley Mullin ’96 and Daniel Kalafatas ’96; Robin Bryson Reynolds ’91 and Jake Reynolds ’90; and Victoria Ershova and Mike Triplett ’96.

“Dartmouth’s commitment to meeting 100% of demonstrated need for all students is longstanding and a source of pride,” says Lee Coffin, Vice Provost, Admissions and Dean of Admissions and Financial Aid. “These new policies reinforce this deep and enduring commitment to full and equal access to an education in Dartmouth. Expanding scholarships by removing loans from all aid programs further levels the playing field as we invite students from all socio-economic backgrounds to join the Dartmouth community.

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Interest payments on German debt could skyrocket next year, warns finance minister https://ctxetg.com/interest-payments-on-german-debt-could-skyrocket-next-year-warns-finance-minister/ Sat, 18 Jun 2022 05:11:00 +0000 https://ctxetg.com/interest-payments-on-german-debt-could-skyrocket-next-year-warns-finance-minister/ German Finance Minister Christian Lindner speaks during a session of the lower house of the German parliament, Bundestag, in Berlin, Germany May 31, 2022. REUTERS/Hannibal Hanschke Join now for FREE unlimited access to Reuters.com Register BERLIN, June 18 (Reuters) – Finance Minister Christian Lindner has warned that interest charges on Germany’s public debt could reach […]]]>

German Finance Minister Christian Lindner speaks during a session of the lower house of the German parliament, Bundestag, in Berlin, Germany May 31, 2022. REUTERS/Hannibal Hanschke

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BERLIN, June 18 (Reuters) – Finance Minister Christian Lindner has warned that interest charges on Germany’s public debt could reach 30 billion euros next year due to rising interest rates and growing debt, adding that he would resist calls for more spending.

Lindner said he wanted to end next year the three years of government largesse that had characterized attempts to prop up the economy during the coronavirus crisis and reapply Germany’s constitutional debt brake the next year.

“We are experiencing dangerous inflation which must be curbed,” he told the Welt am Sonntag newspaper in an interview. “The readiness to take entrepreneurial risks could be reduced. We cannot let this become an economic crisis.”

Germany spent 4 billion euros on interest last year, Lindner, of the business-friendly Liberal Democrat party, said, adding that he would resist calls from his coalition partners for more spending.

“We can no longer afford misdirected subsidies,” he said. He listed subsidies for the purchase of electric and hybrid cars that were available even to very high earners as examples of subsidies that should be eliminated.

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Reporting by Thomas Escritt; Editing by Sandra Maler

Our standards: The Thomson Reuters Trust Principles.

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The Federal Reserve’s latest interest rate hike will make it even harder for those in debt, says financial planner :: WRAL.com https://ctxetg.com/the-federal-reserves-latest-interest-rate-hike-will-make-it-even-harder-for-those-in-debt-says-financial-planner-wral-com/ Wed, 15 Jun 2022 20:52:00 +0000 https://ctxetg.com/the-federal-reserves-latest-interest-rate-hike-will-make-it-even-harder-for-those-in-debt-says-financial-planner-wral-com/ By Keely Arthur, WRAL consumer journalist Raleigh, North Carolina — The Federal Reserve announced its third interest rate hike on Wednesday aimed at curbing inflation. But before prices start to fall, consumers will likely feel the pain of higher borrowing rates. Credit card debt, home and auto loans, and even your savings account are all […]]]>

— The Federal Reserve announced its third interest rate hike on Wednesday aimed at curbing inflation. But before prices start to fall, consumers will likely feel the pain of higher borrowing rates.

Credit card debt, home and auto loans, and even your savings account are all affected.

“We at the Fed understand the difficulties caused by high inflation,” said Jerome Powell, Chairman of the United States Federal Reserve. “We are firmly committed to bringing inflation down, and we are moving quickly to do so.”

Rising interest rates mean that anything you currently have with a variable interest rate will go up and new loans, including mortgages, will have higher starting rates.

“It may not seem like a big percentage because it’s isolated, but if you have revolving or variable debt, it could have a huge impact on your financial situation,” said LaTonya Parsons, financial planner at Wake Technical Community. Middle School.

Although it is beyond your control, you have more power than you think. Parsons recommends sitting down and getting organized and spending time reviewing your finances, if you’re not already doing so.

Advice for those with credit card debt

“Now is the time to cut the fat,” Parsons said. “Find out where you can cut, consider subscription services and frequently take-out. Determining what those needs and wants are going to be very important.”

According to data from Lending Tree, the average North Carolina has more than $6,000 in credit card debt.

Use all the money you can save right now to pay off your credit card debt. For example, if you have credit card debt of $5,500, at a rate of 17% right now, it would take you 23 months to pay it off if you pay $100 a month. With the Federal Reserve interest rates rising 0.75%, that debt would take you an extra month to pay off.

A dvice for homeowners

If you own a home and have a fixed interest rate, the latest hike won’t affect you. But, if you own a home and have an adjustable rate, now is the time to talk to your lender and get the lowest possible refinance.

Remember that interest rates will affect your monthly payment: if you bought a $450,000 home with a 20% down payment at 3% interest earlier this year, your monthly bill before taxes and insurance for a 30-year mortgage would be $1,500.

If that interest rate goes to 5%, the house at the same price with a 30-year mortgage will cost you $1,900 per month.

Advice for those with a student loan

If you have a government-issued loan, the amount of interest you pay on your loan will not change.

However, if you have a private loan, your interest rate will increase. Work on paying off your private student loans as soon as possible and talk to your lender about getting a lower interest rate.

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Live updates on finances and payments in the United States: child tax credit, inflation, interest rates, CPI report, SS disability… https://ctxetg.com/live-updates-on-finances-and-payments-in-the-united-states-child-tax-credit-inflation-interest-rates-cpi-report-ss-disability/ Mon, 13 Jun 2022 21:45:17 +0000 https://ctxetg.com/live-updates-on-finances-and-payments-in-the-united-states-child-tax-credit-inflation-interest-rates-cpi-report-ss-disability/ Jobs lead as Fed tightens monetary policy The healthy finances of US banks, businesses and households, heralded during the pandemic by Federal Reserve officials as a source of resilience, may pose an obstacle to fighting inflation as central bankers raise interest rates in an economy so far able to pay the price. In describing their […]]]>

Jobs lead as Fed tightens monetary policy

The healthy finances of US banks, businesses and households, heralded during the pandemic by Federal Reserve officials as a source of resilience, may pose an obstacle to fighting inflation as central bankers raise interest rates in an economy so far able to pay the price.

In describing their aggressive shift to tighter monetary policy, Fed officials say they hope to suppress the economy without destroying jobs, with rising interest rates slowing things down enough for companies to reduce the current high number of job vacancies while avoiding layoffs or a drop in income Household.

But that means the pain of controlling inflation should fall primarily on owners of capital via a slowing housing market, higher corporate bond rates, weaker securities and a rising dollar to make cheaper imports and encourage domestic producers to keep prices low.

Economists, including current and former Fed officials, note that unlike previous cycles of Fed rate hikes, there is no obvious weakness to exploit or asset bubble to burst to make quick work of. lower inflation – nothing like the heavily overvalued real estate markets of 2007 or the overvalued Internet stocks of the late 1990s to give the Fed more impact on its expected rate hikes.

The adjustment to Fed policy tightening has been rapid by some measures. But it spread moderately across a range of markets, none catastrophically, with little impact yet on inflation or consumer spending.

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AP interview: Sri Lankan PM says open to Russian oil https://ctxetg.com/ap-interview-sri-lankan-pm-says-open-to-russian-oil/ Sun, 12 Jun 2022 04:57:20 +0000 https://ctxetg.com/ap-interview-sri-lankan-pm-says-open-to-russian-oil/ COLOMBO, Sri Lanka (AP) — Sri Lanka may be forced to buy more oil from Russia as the island nation desperately searches for fuel amid an unprecedented economic crisis.said the newly appointed prime minister. Prime Minister Ranil Wickremesinghe said he would look to other sources first, but would be willing to buy more crude from […]]]>

COLOMBO, Sri Lanka (AP) — Sri Lanka may be forced to buy more oil from Russia as the island nation desperately searches for fuel amid an unprecedented economic crisis.said the newly appointed prime minister.

Prime Minister Ranil Wickremesinghe said he would look to other sources first, but would be willing to buy more crude from Moscow. Western countries have largely halted energy imports from Russia under sanctions imposed by its war on Ukraine.

In an extensive interview with The Associated Press on Saturday, Wickremesinghe also indicated that he would be willing to accept more financial aid from China, despite his country’s mounting debt. And while acknowledging that Sri Lanka’s current predicament is “on its own”, he said the war in Ukraine was making it even worse – and severe food shortages could continue into 2024. He said that Russia had also offered wheat to Sri Lanka.

Wickremesinghe, who is also Sri Lanka’s finance minister, spoke to the AP at his office in the capital, Colombo, a day before a month after taking office as prime minister for the sixth time.. Appointed by President Gotabaya Rajapaksa to address an economic crisis that has nearly drained the country’s foreign exchange reserves, Wickremesinghe was sworn in after days of violent protests last month that forced his predecessor, Rajapaksa’s brother Mahinda Rajapaksa, to resign. and seek safety from angry mobs at a naval base.

Sri Lanka has racked up $51 billion in external debt, but has suspended repayment of nearly $7 billion due this year. Crushing debt has left the country without money for basic imports, meaning citizens struggle to access basic necessities such as food, fuel, medicine, even toilet paper and matches. Shortages led to power outages, and people were forced to wait days for cooking gas and gasoline in lines that stretch for miles.

Two weeks ago, the country bought a shipment of 90,000 metric tons (99,000 tonnes) of Russian crude to restart its only refinery, the energy minister told reporters.

Wickremesinghe did not comment directly on this information and said he did not know if any other orders were in the pipeline. But he said Sri Lanka was desperate for fuel and was currently trying to secure oil and coal from the country’s traditional suppliers in the Middle East.

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“If we can get other sources, we’ll get from there. Otherwise (we) may have to go back to Russia,” he said.

Officials are negotiating with private suppliers, but Wickremesinghe said one problem they face is that “there is a lot of oil in circulation that can be informally sent back to Iran or Russia.”

“Sometimes we may not know what oil we’re buying,” he said. “We certainly see the Gulf as our main supply.”

Since the invasion of Ukraine by Russia in late February, global oil prices soared. As Washington and its allies try to cut financial flows supporting Moscow’s war effort, Russia is offering its crude at a huge discount, making it extremely attractive to a number of countries.

Like some other South Asian countries, Sri Lanka has remained neutral on the war in Europe.

Sri Lanka has received and continues to seek aid from many countries, including the most controversial, China, currently the country’s third largest creditor.. Opposition figures have accused the president and former prime minister of taking out a slew of Chinese loans for dazzling infrastructure projects that have since failed to turn a profit, instead adding to the government’s debt burden. country.

Critics also pointed to a beleaguered port in then-president Mahinda Rajapaksa’s hometown of Hambantota, built with an airport nearby as part of China’s Belt and Road Initiative projects, saying that ‘they cost too much and do too little for the economy.

“We need to identify the projects we need for economic recovery and take out loans for those projects, whether from China or others,” Wickremesinghe said. “It’s a question of where do we deploy the resources?

The prime minister said his government had discussed with China the restructuring of its debts. Beijing had previously offered to lend more money to the country, but had been reluctant to reduce the debt, perhaps out of fear that other borrowers would demand the same relief.

“China agreed to come with the other countries to relieve Sri Lanka, which is a first step,” Wickremesinghe said. “That means they all have to agree on how the cuts should happen and in what way they should happen.”

Sri Lanka is also seeking financial aid from the World Food Programme, which could soon send a team to the country, and Wickremesinghe is banking on a bailout from the International Monetary Fund.. But even if approved, he doesn’t expect to see the money from the package until October.

Wickremesinghe acknowledged that the crisis in Sri Lanka was of his “own making”. Many blamed government mismanagement, steep tax cuts in 2019, policy mistakes that devastated crops and a sharp drop in tourism due to the coronavirus pandemic. But he also pointed out that the war in Ukraine, which has brought down global supply chains and pushed fuel and food prices to unaffordable levels, has made matters worse.

“The Ukraine crisis has had an impact on our … economic contraction,” he said, adding that he believed the economy would contract even further before the country could begin to recover and rebuild. next year.

“I think by the end of the year you will be able to see the impact in other countries as well,” he said. “There is a global shortage of food. Countries do not export food.

In Sri Lanka, the price of vegetables has tripled while rice cultivation in the country has fallen by about a third, the prime minister said.

The shortages have hit both the poor and the middle classes, sparking months of protests. Mothers are struggling to get milk to feed their babies, as fears of an impending hunger crisis grow.

Wickremesinghe said he felt bad to see his nation suffer, “both as a citizen and as prime minister”.

He said he had never seen anything like it in Sri Lanka – and didn’t think he ever would. “I’ve usually been in governments where I made sure people had three meals and their incomes increased,” he said. “We had some tough times. …but not like this. I haven’t seen… people without fuel, without food.

___

Associated Press writers Bharatha Mallawarachi and Krishan Francis contributed to this report.

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US allows Eni and Repsol to ship Venezuelan oil to Europe for debt – sources https://ctxetg.com/us-allows-eni-and-repsol-to-ship-venezuelan-oil-to-europe-for-debt-sources/ Sun, 05 Jun 2022 21:14:34 +0000 https://ctxetg.com/us-allows-eni-and-repsol-to-ship-venezuelan-oil-to-europe-for-debt-sources/ Breadcrumb Links PMN Company Author of the article: Reuters Marianna Parraga and Matt Spetalnick Publication date : June 05, 2022 • 51 minutes ago • 3 minute read • Join the conversation Content of the article HOUSTON/WASHINGTON — Italian oil company Eni SpA and Spain’s Repsol SA could start shipping Venezuelan oil to Europe as […]]]>

Content of the article

HOUSTON/WASHINGTON — Italian oil company Eni SpA and Spain’s Repsol SA could start shipping Venezuelan oil to Europe as early as next month to offset Russian crude, five people familiar with the matter said, resuming oil trading against debt interrupted two years ago when Washington tightened sanctions against Venezuela.

The volume of oil Eni and Repsol are expected to receive is not large, one of the people said, and any impact on world oil prices will be modest. But Washington’s green light to resume long-frozen Venezuelan oil flows to Europe could give Venezuelan President Nicolas Maduro a symbolic boost.

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The US State Department gave the two companies the go-ahead to resume shipments in a letter, the sources said. US President Joe Biden’s administration hopes that Venezuelan crude can help Europe reduce its dependence on Russia and redirect some of Venezuela’s cargoes from China. Getting Maduro to resume political talks with the Venezuelan opposition is another goal, two of the people told Reuters.

The two European energy companies, which have joint ventures with Venezuela’s state oil company PDVSA, can count crude shipments for unpaid debts and overdue dividends, the sources said.

One of the essential conditions, said one of the people, was that the oil received “must go to Europe. It cannot be resold elsewhere.

Washington believes PDVSA will not benefit financially from these cashless transactions, unlike Venezuela’s current oil sales to China, the person said. China did not sign Western sanctions against Russia and continued to buy Russian oil and gas despite pleas from the United States.

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Clearances arrived last month, but details and resale restrictions were not previously reported.

Eni declined to comment, citing a policy of not commenting “on matters of potential commercial sensitivity”. Repsol did not respond to requests for comment.

OTHERS EXCLUDED

Washington has not made similar allowances for US oil giant Chevron Corp, India’s Oil and Natural Gas Corp Ltd (ONGC) and France’s Maurel & Prom SA, which have also lobbied the US State Department and the US Treasury Department to take oil in exchange for billions of dollars. in the accumulated debts of Venezuela.

The five oil companies stopped swapping oil for debt in mid-2020 amid former US President Donald Trump’s ‘maximum pressure’ campaign that cut Venezuela’s oil exports but did not failed to oust Maduro.

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PDVSA did not expect Eni and Repsol to take on any shipments this month, according to a preliminary PDVSA loading schedule from June 3 seen by Reuters.

Venezuela’s Vice President Delcy Rodriguez tweeted last month that she hoped the US overtures would “pave the way for the full lifting of illegal sanctions that affect all of our people.”

AWARENESS IN CARACAS

The Biden administration held top-level talks with Caracas in March, and Venezuela released two of at least 10 jailed U.S. citizens and promised to resume election talks with the opposition. Maduro has yet to agree on a date to return to the negotiating table.

Republican lawmakers and some of Biden’s Democratic colleagues who oppose any softening of US policy toward Maduro have called the US approach to Venezuela too one-sided.

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Washington maintains further sanctions relief against Venezuela will be conditional on progress toward democratic change as Maduro negotiates with the opposition.

Last month, the Biden administration allowed Chevron, the largest US oil company still active in Venezuela, to discuss with Maduro’s government and PDVSA future operations in Venezuela.

Around this time, the US State Department secretly sent letters to Eni and Repsol saying that Washington “would not object” if they resumed the oil-for-debt deals and brought the oil to Europe, said one of the sources told Reuters.

The letters assured them they would face no punishment for taking shipments of Venezuelan oil to collect on an outstanding debt, two people in Washington said.

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CHEVON CONSIDERATION

Chevron’s request to the US Treasury to expand its operations in Venezuela came as the State Department sent the letters of no objection to Eni and Repsol. The person familiar with the matter in Washington declined to say whether Chevron’s request remains under review.

The US oil major has received a six-month extension to a license that preserves its assets and US approval to discuss future operations with Venezuelan government officials.

It was not immediately clear whether Washington had approved previous crude oil-for-fuel swaps that European companies had conducted with PDVSA through 2020, swaps that brought relief to gas-starved Venezuela.

China has become the biggest customer for Venezuelan oil, with up to 70% of monthly shipments going to its refiners. (Reporting by Marianna Parraga in Houston and Matt Spetalnick in Washington; Writing by Gary McWilliams; Editing by David Gregorio and Lisa Shumaker)

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Launched Women-Led Latino Media Network with $60M Acquisition of Radio Stations TelevisaUnivision https://ctxetg.com/launched-women-led-latino-media-network-with-60m-acquisition-of-radio-stations-televisaunivision/ Sat, 04 Jun 2022 01:05:47 +0000 https://ctxetg.com/launched-women-led-latino-media-network-with-60m-acquisition-of-radio-stations-televisaunivision/ Latino Media Network’s Stephanie Valencia and Jess Morales Rocketto. Latino Media Network/TelevisaUnivision Two Latino social entrepreneurs today officially launched the Latino Media Network (LMN), a new media content creation, talent incubation and distribution company, aimed at reaching the Hispanic market, initially focused on audio. Stephanie Valencia and Jess Morales Rocketto have raised $80 million — […]]]>

Two Latino social entrepreneurs today officially launched the Latino Media Network (LMN), a new media content creation, talent incubation and distribution company, aimed at reaching the Hispanic market, initially focused on audio.

Stephanie Valencia and Jess Morales Rocketto have raised $80 million — one of the largest fundraising rounds for a Latina-owned and operated startup in the United States — from a diverse set of investors. They also enlisted a series of high profile entrepreneurs, media and celebrity advisors and board members to support the new venture, including actress Eva Longoria, news personality María Elena Salinas and Christy Haubegger, founder of Latina magazine and current head of WarnerMedia.

“As Latinos drive population growth in the United States, they continue to navigate the ocean of information about what is happening in the world and their place in it. With the decline of minority media, it is Now is the time to invest in more resources to create content for Latinos by Latinos. Through the unique combination of creative content and new and existing media platforms serving our community, we can embrace cultural pride and collectively empowering Latinos,” said LMN co-founder Stephanie Valencia.

To coincide with its launch, the company also announced that it had signed a definitive agreement with TelevisaUnivision to purchase 18 radio stations in 8 of the top 10 Latin markets in a $60 million cash deal. LMN secured equity investment from leading Latino investors and debt financing for the acquisition from Lakestar Finance LLC, an investment entity affiliated with Soros Fund Management LLC.

The 18 AM and FM stations are WADO-AM (New York), KTNQ-AM (Los Angeles), WRTO-AM (Chicago), KFZO-FM and KFLC-AM (Dallas), KLAT-AM (Houston), WAQI- AM and WQBA-AM (Miami), KXTN-AM (San Antonio), KISF-FM, KLSQ-AM and KRGT-FM (Las Vegas), KGBT-FM, KBTQ-FM and KGBT-AM (McAllen), KLLE- FM, KOND-FM and KRDA-FM (Fresno).

“Our business and these stations are for our community,” said LMN co-founder Jess Morales Rocketto.. “We believe in the power and reach of radio and it remains a primary source of media for a significant number of our community. We hope to create relevant content for radio and other audio platforms with content that our community can trust and rely on.”

The two companies have agreed to a one-year transition of stations following FCC approval, with completion expected in the fourth quarter of 2023.

A TelevisaUnivision spokesperson released a statement from the company acknowledging the agreement “to divest 18 of its non-core radio stations”, reaffirming that it is not giving up the radio business. “Upon closing of the transaction, TelevisaUnivision will still operate the nation’s largest Spanish-language radio footprint by audience, with 39 stations in 12 premier markets, including New York, Los Angeles, Chicago, Dallas and Houston. . , and a network of 228 affiliate stations in 79 markets. Audio and music will continue to be a strategic priority through investments in core radio assets and Uforia, TelevisaUnivision’s audio brand which includes audio streaming, podcasts and live concert series.

LMN says it plans to keep current TelevisaUnivision employees who work at the stations it acquires and is recruiting top talent for its management team, to be announced later this year.

The new company’s board members, investors and advisors include:

  • Maria Elena Salinas: Award-winning journalist and author, former co-anchor of Univision’s evening news for over 30 years. Director of MES Multi-Media LLC.
  • Eva Longoria: Director, actor, activist and philanthropist. CEO and Founder, UnbeliEVAble Entertainment and Founder, Casa del Sol Tequila.
  • Dr. Eduardo Padron: President Emeritus, Miami Dade College; Corporate Strategic Advisor; Council, Urban Institute. Recipient of the Presidential Medal of Freedom.
  • Al Cardenas: Board Member Coral Gables Trust Co., Investor and Treasurer, American Business Immigration Coalition; former chairman of the Florida Republican Party and former chairman of the American Conservative Union.
  • Maria Contreras Sweet: Co-founder of Pro-America Bank; former US Administrator of the Small Business Administration; former Secretary of Business and Transportation for the State of California.
  • Monica Lozano: Former publisher and CEO of Opinion and CEO of its parent company, ImpreMedia, LLC. Currently a member of the Walt Disney Boards of Directors
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  • Henry R. Muñoz III: Activist, business leader and philanthropist who started national movements such as Momento Latino, TheDream.US and Latino Victory, supports the Latino community.
  • Luis Ubinas: Investor and advisor. Former President of the Ford Foundation, Senior Partner McKinsey and Company. Current director at AT&T
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    President of the Statue of Liberty-Ellis Island Foundation.
  • Tom Castro: Founder and CEO of El Dorado Capital and radio entrepreneur, investor and corporate director. Bought and sold over 50 radio stations serving the Latino community. Former director of Time Warner.
  • Juleyka Lantigua: Founder/CEO, LWC Studios. Audio creator nominated by Peabody, former NPR, Atlantic Media and Random House.
  • Tom Chavez: Tech entrepreneur, author and co-founder of super{set}, a startup studio that builds and funds software companies.
  • Christy Haubegger: Founder of Latina magazine and current EVP, Chief Enterprise Inclusion Officer and Head of Marketing & Communications at WarnerMedia.
  • Alicia Bassuk: Founder of Ubica Leadership Strategies. Partner and investor in several companies, including Kinzie Capital Partners and Core Innovation Capital.
  • Jess Morales Rocketto: Head of Moonshot Strategies at Equis. Co-founder of Families Belong Together, Poderistas and Supermajority. Formerly National Domestic Workers Alliance, Hillary for America, Obama for America.
  • Stephanie Valencia: Co-founder and president of Equis. Co-founder of Poderistas, Latino Talent Initiative, The Latina Collective and Latinos44. Formerly Google, Obama White House, United States Congress.
  • Gibson, Dunn & Crutcher LLP, Sidley Austin LLP, Fletcher Heald and Herrera Arellano all advised on the case.
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IFAC and CPA Canada study https://ctxetg.com/ifac-and-cpa-canada-study/ Thu, 02 Jun 2022 13:04:00 +0000 https://ctxetg.com/ifac-and-cpa-canada-study/ TORONTO, June 2, 2022 /CNW/ – Countries around the world are looking for ways to redirect capital investment into activities that support the transition to a more sustainable, low-carbon economy. To fund this massive shift, investors and regulators are looking to the sustainable debt market as an important way to raise funds to fund projects […]]]>

TORONTO, June 2, 2022 /CNW/ – Countries around the world are looking for ways to redirect capital investment into activities that support the transition to a more sustainable, low-carbon economy. To fund this massive shift, investors and regulators are looking to the sustainable debt market as an important way to raise funds to fund projects that advance environmental, social and governance (ESG) goals.

“Confidence in this relatively new, constantly changing and rapidly expanding market is essential,” said Kevin Dancey, CEO of the International Federation of Accountants (IFAC). “Like any financial innovation, there are challenges. Smart regulation, standardization, and external verification or assurance are needed to protect investor interests, mitigate the risk of green money laundering, and improve transparency.

“Checking the details of these bond programs – both before issuance and in the form of annual updates for investors – is a critical part of maintaining integrity. The accountancy profession can help make get things done.”

A comprehensive new study that delves into the challenges and opportunities that exist in the sustainable debt market – Navigating the Sustainable Debt Market: Building Credibility in a Changing Market – is the result of a collaborative effort between IFAC and the Chartered Professional Accountants of Canada (CPA Canada), which recruited PwC Canada to conduct the underlying research.

Although the sustainable debt market has evolved significantly over the past few years, the study identified a number of issues that need to be addressed for the benefit of all capital market participants. These challenges include: the proliferation of voluntary market-oriented guidance; the absence of a common understanding of what projects and activities qualify as “green” or “sustainable”; and inconsistent reporting, impact measurement, external review and assurance practices.

“Sustainability is increasingly integrated into business, investment and financing decisions,” said Pamela Steer, President and CEO, CPA Canada. “Serving the public interest is at the heart of the global accountancy profession. It has a critical role to play in advancing sustainable finance. Collectively, the profession will continue to advocate for better policy, regulation and standards in this area and the study will help inform the dialogue.”

As part of the overall effort to put sustainability at the center of business concerns, IFAC and CPA Canada welcome the establishment of the International Sustainability Standards Board (ISSB) by the IFRS Foundation. Globally accepted sustainability standards will enhance the credibility of ESG information by improving its consistency and comparability, which will help mitigate some of the challenges identified in the report.

Chartered Professional Accountants of Canada (CPA Canada) works collaboratively with provincial, territorial and Bermudian CPA bodies as it represents the Canadian accounting profession, both nationally and internationally. This collaboration enables the Canadian profession to champion best practices that benefit business and society, as well as prepare its members for an ever-changing operating environment characterized by unprecedented change. Representing more than 220,000 members, CPA Canada is one of the largest national accounting bodies in the world. cpacanada.ca

The International Federation of Accountants (IFAC) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. Comprised of 180 members and associates in more than 130 countries and jurisdictions, IFAC represents more than three million accountants in practice, education, government, industry and commerce.

For four decades, IFAC has represented the global profession and supported the development, adoption and implementation of international standards that underpin the contributions of today’s global accountancy profession. IFAC has maintained a long-term approach to building and strengthening a global accountancy profession that supports transparent, accountable, and sustainable organizations, financial markets, and economies.

SOURCECPA Canada

For further information: Perry Jensen, Director of Media Relations, Chartered Professional Accountants of Canada, 416-204-3941, [email protected]

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Silk Road Medical extends its cash trail by securing up to https://ctxetg.com/silk-road-medical-extends-its-cash-trail-by-securing-up-to/ Tue, 31 May 2022 13:00:00 +0000 https://ctxetg.com/silk-road-medical-extends-its-cash-trail-by-securing-up-to/ SUNNYVALE, Calif., May 31, 2022 (GLOBE NEWSWIRE) — Silk Road Medical, Inc. (Company) (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, today announced that it has entered into a new five-year loan agreement with Oxford Finance LLC (Oxford) comprising up to $200 million in term loan and up […]]]>

SUNNYVALE, Calif., May 31, 2022 (GLOBE NEWSWIRE) — Silk Road Medical, Inc. (Company) (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, today announced that it has entered into a new five-year loan agreement with Oxford Finance LLC (Oxford) comprising up to $200 million in term loan and up to $50 million in revolving credit. The transaction brings the Company’s total cash, cash equivalents and access to liquidity to approximately $340 million.

“We are extremely pleased to strengthen our capital position with this financing, significantly improving our investment track for growth,” said Lucas Buchanan, CFO and COO of Silk Road Medical. “This agreement provides additional financial flexibility at very favorable cost and terms in the current environment, including a capped interest rate until maturity. We look forward to leveraging this facility to strengthen our organization as we continue to drive adoption of TCAR and advance the less invasive standard of care in stroke prevention.

The Company’s new term loan facility features a five-year maturity date, with four years of interest-only payments and a current coupon of 5.85%, reflecting a base rate of 5.0% plus a 1-month SOFR, subject to a floor of 85 points and a ceiling of 250 basis points. The Company has the option to extend the interest only period and the maturity date for an additional year. The $50 million revolving line of credit also has a five-year term with a base rate of 3.0% plus a 1-month SOFR, subject to a floor of 85 basis points and a cap. of 250 basis points, which will be extended in conjunction with any extension of the term loan maturity date and is subject to the completion of a collateral audit by Oxford before it can be used.

At closing, the Company drew $75 million in funding from the new term loan facility and used $49.2 million of the proceeds to repay its existing credit facility with Stifel Bank. A second tranche of up to $75 million, which may be drawn down in partial tranches, is available through December 31, 2024, solely at the Company’s discretion and not contingent upon financial, commercial or other milestones. A third tranche of up to $50 million is also available through December 31, 2024, subject to the generation of certain rolling income relative to the funded term loan amount.

Armentum Partners acted as financial advisor to Silk Road Medical in connection with the transaction. Additional details regarding the foregoing financing are set forth in the company’s current report on Form 8-K, filed today with the SEC.

About Silk Road Medical
Silk Road Medical, Inc. (NASDAQ: SILK), is a Sunnyvale, CA and Plymouth, MN-based medical device company focused on reducing the risk of stroke and its devastating impact. The Company has developed a new approach for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). TCAR is a clinically proven procedure combining the surgical principles of neuroprotection with minimally invasive endovascular techniques to treat carotid artery blockages at risk of causing stroke. For more information on how Silk Road Medical delivers better patient outcomes through more informed clinical thinking, visit www.silkroadmed.com and connect on Twitter, LinkedIn and Facebook.

Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such statements include statements regarding the availability of the term loan and revolving letter of credit. These statements are based on current assumptions that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties, many of which are beyond our control, include the risks described in the section titled Risk Factors and elsewhere in our filing with the Securities and Exchange Commission in Silk Road’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Exchange Commission on May 10, 2022. These forward-looking statements speak only as of the date hereof and should not be relied upon unduly. Silk Road Medical disclaims any obligation to update these forward-looking statements.

Investor contacts:
Lynn Lewis or Marissa Bych
Gilmartin Group
investors@silkroadmed.com

Media:
Michael Fanucchi
Medical Silk Road
mfanucchi@silkroadmed.com

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Pakistani economy: Pakistan urgently needs $36 billion to avoid economic collapse https://ctxetg.com/pakistani-economy-pakistan-urgently-needs-36-billion-to-avoid-economic-collapse/ Sun, 29 May 2022 13:47:00 +0000 https://ctxetg.com/pakistani-economy-pakistan-urgently-needs-36-billion-to-avoid-economic-collapse/ Amid depleting foreign exchange reserves and a collapsing economy, Pakistan desperately needs $36-37 billion in foreign funding over the next fiscal year. The country’s international bonds lost nearly a third of their value and Finance Minister Miftah Ismail announced that Pakistan had yet to reach an agreement with the International Monetary Fund (IMF) in June, […]]]>
Amid depleting foreign exchange reserves and a collapsing economy, Pakistan desperately needs $36-37 billion in foreign funding over the next fiscal year.

The country’s international bonds lost nearly a third of their value and Finance Minister Miftah Ismail announced that Pakistan had yet to reach an agreement with the International Monetary Fund (IMF) in June, reported The Express Grandstand.

The minister revealed that at present the government is unable to raise new foreign debt in the global capital market and stressed that controlling inflation is the top priority.

However, an additional $10-15 billion will be needed to finance the current account deficit.

“Controlling inflation will lead to economic growth,” the minister remarked during a webinar on “National Dialogue on the Economy: The Way Forward for Pakistan” hosted by Nutshell Conferences and Corporate on Saturday. Pakistan Group.

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“Pakistan has to repay $21 billion in external debt in the next fiscal year, so entering into the International Monetary Fund (IMF) loan program (worth $6 billion) is a must to organize funding required,” added Ismail.

Highlighting the impending economic crisis in the country, he also pointed out that the country will import 3 million tons of wheat, 4 million tons of cooking oil worth $6 billion and 5 million bales of cotton from the next fiscal year 2022-23 to deal with the country’s economic instability.

The value of Pakistan’s international bonds denominated in US dollars has fallen by around 30% – as the $1 bond was trading at 70 cents when the PML-N-led coalition government came to power in early April. “Now it’s trading at 65 cents,” The Express Tribune said, quoting Ismail.

“This means that we cannot launch Eurobonds on the global market to raise new funds, nor can we approach commercial (global) banks (for the time being),” the minister stressed.

Prime Minister Shehbaz Sharif has also visited Saudi Arabia and other friendly countries to secure funding from them.

They are ready to provide loans, but only after Pakistan entered the IMF program, however, the IMF has linked the resumption of its loan program with the removal of subsidies on petroleum products, whereby the government launched the process to cancel the grant with effect from Friday (27 May).

Meanwhile, Pakistani Finance Minister Tarin stressed the need to narrow the gap between import payments and export earnings with a focus on IT exports and blamed the previous government and ousted leader Imran Khan for Pakistan’s financial collapse.

Pakistan’s failure to manage its economy is an unpleasant result of its own actions, as the country incurred $13.033 billion in external debt from multiple funding sources in the first 10 months (July-April 2021-22) , including 2.623 billion USD from foreign commercial banks. for the whole exercise.

Strong domestic demand pressures and rising global commodity prices have led to double-digit inflation in the country, leading to low productivity and a weak investment growth cycle in the country. (ANI)

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