Reform – IAM Network

October 20, 2020

Bollore: Financial information for the third quarter 2020

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BOLLOREPRESS RELEASEFinancial information for the third quarter 202020 October 2020Group activities show strong resilience in third quarter 2020despite 3% decline in revenueRevenue in the third quarter 2020: €5,915 millionRevenue at the end of September 2020: €17,527 millionRevenue for the third quarter 2020 At constant scope and exchange rates, the Group’s revenue for the third quarter 2020 was down 3% to €5,915 million. This change mainly includes:a 2% increase in the transportation and logistics business driven by freight forwarding, mainly due to exceptional air freight operations, despite the contraction in logistics activities in Africa and the impact of the end of the Douala terminal (DIT) concession in Cameroon;the decline in oil logistics (-38%) primarily attributable to the fall in oil product prices and volumes;the growth in the communications business (+1%), attributable to Vivendi which benefited from growth at UMG (+6%), the Canal+ group (+1%) and Editis (+10%);Revenue as reported was down 4% compared to the third quarter of 2019, due to a €132 million negative foreign exchange impact related to the strengthening of the euro (particularly versus the US dollar in the third quarter), which absorbed the positive changes in scope related primarily to the consolidation of M7 at the Canal+ group.Revenue at the end of September 2020 At constant scope and exchange rates, …

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NFP Ventures teams up with MoneyLion on financial wellness benefit

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NFP Ventures, the early stage investment branch of insurance broker NFP, has partnered with digital finance platform MoneyLion to provide its employer clients with a financial wellness benefit.NFP Ventures will provide employers with a suite of financial tools, including MoneyLion’s Instacash program and mobile banking platform, RoarMoney. NFP is the first organization to offer MoneyLion as an employee benefit to employer clients.“We continue to focus on innovative solutions that align with the needs of our clients, including the challenges of financial wellness that have intensified during these uncertain times,” Shawn Ellis, managing director of NFP Ventures, said in a statement announcing the partnership.Americans have become more anxious about their financial stability since the outbreak of the coronavirus pandemic, with more than half of employees saying finances or money challenges are their main source of stress, according to PwC’s 2020 Employee Financial Wellness survey. Just 41% of people would be able to cover a $1,000 emergency expense, according to a BankRate poll.MoneyLion’s Instacash program allows employees to receive a cash advance of up to $250 with 0% APR. This can help employees cover an unexpected expense or even finance a fun opportunity with no interest.“Employees who may be …

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October 20, 2020

JP Morgan reportedly to finance new ‘European Premier league’

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Top clubs including Manchester United and Liverpool are in talks to form a new competition for the continent’s top teams, according to Sky News.

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October 20, 2020

British and U.S. financial regulators renew co-operation deal

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TipRanksThe Bottom Is in for These 3 Stocks? Analysts Say ‘Buy’Markets thrive on risk, but risk is hard to talk about. It’s easy to fall back on cliches – buy low and sell high, or the bulls and bears make money while the pigs get slaughtered – but those cliches have drifted into common parlance for a reason. They have a grain of truth.Buying low and selling high has always been known as the way to make a profit, from the earliest days of human barter. And whether the market is moving up or down, whether investors follow a bullish or a bearish strategy, it’s possible to turn that profit.So, let’s talk about buying low. While the overall market has recovered nicely from the pandemic swoon of mid-winter, many stocks are still struggling with a depressed share value. Some of them are fundamentally sound – and Wall Street’s analysts have taking note.Using TipRanks database, we pinpointed three such stocks. Each is down at least 60% so far this year, but each also has a Strong Buy consensus rating and at least 40% upside potential for the coming months.Diamondback Energy (FANG)First up is Diamondback Energy, a Texas …

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October 20, 2020

Victor Perez served in the Navy before entering the world of finance. Here’s how the credit-derivatives trader is helping other veterans find their footing on Wall Street.

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Victor Perez, 34, is a vice president in credit derivative trading at Wells Fargo. He first dropped anchor in the Navy, but now he’s helping veterans plant their flag on Wall Street.
Perez is a cofounder of the Charlotte chapter of the Veterans on Wall Street initiative, and provides support and mentorship to veterans throughout his bank.
In 2020, Business Insider named Perez to our annual list of Rising Stars of Wall Street.
Experts say veterans have the right qualities to succeed in high-stress, demanding finance industry jobs.

Are you a young person working on Wall Street? Contact this reporter via email at rhodkin@businessinsider.com, encrypted messaging app Signal (561-247-5758), or direct message on Twitter @reedalexander.

Visit Business Insider’s homepage for more stories.

Victor Perez has held a few job titles over the course of his career.The 34-year-old son of Cuban immigrants and first in his family to be born in the US is a father (of two), husband, and vice president in credit derivative trading at Wells Fargo.He’s also a former Naval lieutenant and graduate of the University of Chicago Booth School of Business who worked for a time as a professor at the University of Notre …

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October 20, 2020

Stockton woman helps people navigate financial journey after going from bankrupt to millionaire

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“If COVID has taught you anything it’s taught us that we can’t depend on a single source of income,” Constance Carter said.

STOCKTON, Calif. — A Stockton woman is helping people navigate their financial journey after going from bankrupt to millionaire in about ten years.

Constance Carter is the CEO of her real estate company, Catalyst Real Estate, and is a multi-millionaire with multiple streams of income.

However, when Carter was starting off her real estate career she said she wasn’t good with her money.

“I didn’t really know how to manage it and I ended up filing for bankruptcy,” Carter said. “I ended up having poor credit. My credit went from an 800 down to a 379 which is almost as low as you can get.”

She said she had to figure out budgeting and finance since she didn’t learn about those topics growing up. She said her parents didn’t have great credit and she was even homeless for a time.

“I had to sit there and think about my life and think about all the things I had gone through and what got me in my situation,” Carter said.

Little by little she was able to …

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October 20, 2020

Ocwen Financial Provides Business Update and Preliminary Third Quarter Results

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Continued profitability improvement and originations volume growthStrong operating and financial momentumSettlement with Florida completes resolution of all state actions from 2017 WEST PALM BEACH, Fla., Oct. 20, 2020 (GLOBE NEWSWIRE) — Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today provided preliminary information regarding its third quarter 2020 results and progress on the Company’s key business priorities. A presentation with additional detail regarding today’s announcement is available on the Ocwen Financial Corporation website at www.ocwen.com (through a link on the Shareholder Relations page).The Company reported a net loss of $9.4 million and a pre-tax loss of $11.4 million for the three months ended September 30, 2020, compared to a net loss of $42.8 million and a pre-tax loss of $38.3 million for the three months ended September 30, 2019. Adjusted pre-tax income was $13.5 million for the quarter compared to a $42.0 million adjusted pre-tax loss excluding NRZ lump-sum amortization in the prior year period (see “Note Regarding Non-GAAP Financial Measures” below).Glen A. Messina, President and CEO of Ocwen, said, “Our performance across the business is progressing consistent with our expectations. The execution of our strategy to drive balance, diversification, cost leadership and operational excellence is delivering improved profitability, originations …

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October 20, 2020

How to get hired at Blackstone

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A regulator’s bid to raise a reporting threshold for money managers appears to have gotten no support from the public.

Institutional investors submit a 13F filing every quarter that discloses their equity holdings. The Securities and Exchange Commission proposed to raise the reporting threshold from $100 million to $3.5 billion. However, according to Reuters, analysis by Goldman Sachs of the majority of the 2,262 letters filed during a comment period were not supportive. In fact, Goldman says 99% of letters submitted opposed the proposal. If you’re not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.Tune in on Tuesday, October 27 at 12:00 pm ET for a virtual event sponsored by Salesforce, looking at how Professional Services firms are navigating and driving growth during the COVID-19 era. Register here.

Like the newsletter? Hate the newsletter? Feel free to drop me a line at ddefrancesco@businessinsider.com or on Twitter @DanDeFrancesco.

Drew Angerer/Getty; Skye Gould/Business Insider

Trying to get a job at Blackstone?You’re not alone. Plenty of people want to work at the world’s largest alternative investment manager. It’s 2020 first-year analyst class had 19,000 applicants, with a 0.5% acceptance rate.Lucky for …

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October 20, 2020

Doubling of RBI Bond Buying Suggests No Move to Direct Financing

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Bloomberg Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.Customer SupportAmericas+1 212 318 2000Europe, Middle East, & Africa+44 20 7330 7500Asia Pacific+65 6212 1000

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October 20, 2020

Cross River Appoints Alex Tong as Chief Financial Officer

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TipRanksThese 3 Penny Stocks Have Massive Upside Potential, Says CowenIt’s a mixed bag when it comes to opinions on penny stocks. These tickers trading for less than $5 per share divide Wall Street like no other; market watchers either love them or hate them.It’s easy to understand the appeal. First and foremost, you get more bang for your buck. On top of this, with shares changing hands for bargain prices, even what seems like miniscule share price appreciation can translate to monstruous percentage gains. For some, however, the risk poses too great a threat to ignore. When you look under the hood of these low-priced names, you might find very real problems like poor fundamentals or looming headwinds.So, how are investors supposed to spot the penny stocks poised to go from rags to riches? By turning to the pros.With this in mind, we wanted to take a closer look at three penny stocks getting love from the pros, namely the analysts at investment firm Cowen. According to the firm, all three could soar in the year ahead. Using TipRanks’ database, we learned why Cowen analysts are pounding the table despite the risk involved.Neos Therapeutics (NEOS)Developing …

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