Wed.May 17, 2023

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Remarks by Commissioner Lizárraga before the Digital Directors Network 2023 Conference

Harvard Corporate Governance

Posted by Jaime Lizárraga, U.S. Securities and Exchange Commission, on Wednesday, May 17, 2023 Editor's Note: Jaime Lizárraga is a Commissioner at the U.S. Securities and Exchange Commission. This post is based on his recent public statement. The views expressed in this post are those of Commissioner Lizárraga and do not necessarily reflect those of the Securities and Exchange Commission or its staff.

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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Seneca

Appraisers Blog

In reply to Mike Ford, AGA™. The state sent me the complaint letter from Fannie. The only statement from Fannie was “Use of dissimilar comparable sales.” I sent in my work file as directed back in August 2022. Believe me, I haven’t been losing any sleep over this.

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Challenges Continue Regarding Expanding Diversity in The Boardroom and C-Suites

Harvard Corporate Governance

Posted by Esther G. Lander, Richard J. Rabin, and Anastasia Kerdock, Akin Gump Strauss Hauer & Feld LLP, on Wednesday, May 17, 2023 Editor's Note: Esther G. Lander and Richard J. Rabin are Partners and Anastasia Kerdock is a Senior Practice Attorney at Akin Gump Strauss Hauer & Feld LLP. This post is based on a Akin Gump memorandum by Ms. Lander, Mr.

Equity 177
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What's Going On With Alibaba Stock Wednesday

Benzinga

Alibaba Group Holding Limited (NYSE: BABA ) shares are trading higher Wednesday due to upbeat results posted by the Chinese tech companies this week despite investor concerns. Baidu, Inc (NASDAQ: BIDU) reported a first-quarter FY23 revenue growth of 10% year-on-year to $4.535 billion Tuesday, beating the consensus of $4.310 billion. Baidu's Core revenue increased 8% Y/Y to $3.35 billion Revenue from IQIYI, Inc (NASDAQ: IQ ) increased 15% Y/Y to $1.22 billion Tuesday, beating the consensus of

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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The state of grocery retail in Latin America

Mckinsey and Company

Persistent inflation and shifting consumer preferences will test grocery retailers across the region. Four imperatives—supported by investments in advanced analytics—could be critical to keeping pace.

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What's Going On With Nvidia Stock Wednesday

Benzinga

NVIDIA Corp (NASDAQ: NVDA ) shares are ticking higher Wednesday since hedge funds increased exposure to the chipmaker. At least three hedge funds ramped up exposure to the stock this week, including Chase Coleman's Tiger Global Management , Philippe Laffont's Coatue Management , and David Tepper's Appaloosa. The growing interest reflects optimism over AI-fueled prospects Full story available on Benzinga.

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Forward Thinking on the rollercoaster of central banking with Hans-Helmut Kotz

Mckinsey and Company

“A boring world might lead us to terrible stagnation, which we don't want. We need innovation in front of all the issues we are dealing with.” A former central banker and economist talks about the difficult balances that need to be struck.

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Home Energy Tax Credits: Do You Qualify?

Gross Mendelsohn

If you updated your home in 2022 or 2023 to be more energy efficient, you might be eligible for one or more tax credits. Tax credits are an excellent way to reduce your tax liability.

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The global forces shaping Denmark

Mckinsey and Company

Copenhagen partner Klaus Dallerup discusses the global forces shaping Denmark’s economic future, which he says which will revolve to a large extent around the green transition and traditional Danish dominance in the export of wind turbines.

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Nomi Health Acquires Arizona Clinic On Its Path to Help Solve the Opioid Crisis

Business Wire M&A

PHOENIX--(BUSINESS WIRE)--With more than 1,300 opioid overdoses in 2023, Arizona continues to struggle with how to address the opioid use disorder (OUD) epidemic. With a successful track record in building solutions for some of the most complicated public health issues, healthcare programs and payments company Nomi Health today announced its acquisition of Phoenix-based clinic I Am Wellness.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Target True Zero: Infrastructure for novel propulsion flight

Mckinsey and Company

New types of infrastructure will be essential for supporting battery- and hydrogen-powered aircraft that will begin operating this decade.

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Ripple Makes Crypto Custody Push With $250M Metaco Buy

Law 360 M&A

Ripple said Wednesday it has paid $250 million for Swiss-based digital asset custody provider Metaco, as the cryptocurrency exchange readies for an anticipated uptick in demand for crypto custody services from institutional financial firms.

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Enhancing Cost Optimization: Key Ingredients for Success

Trout CPA

Written by Robert Pozesky , Director of Management Advisory Services A well-crafted cost optimization strategy is vital for businesses to not only weather economic turbulence but also seize strategic opportunities. By gaining a comprehensive understanding of cost management levers, organizations can effectively implement a cost optimization strategy that minimizes immediate expenses while fostering long-term growth.

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Leading Enterprise Crypto Company Ripple Acquires Custody Provider Metaco for $250M

Business Wire M&A

LONDON & LAUSANNE, Switzerland--(BUSINESS WIRE)--Ripple, the leader in enterprise blockchain and crypto solutions, announced today it has acquired Metaco, a Swiss-based provider of digital asset custody and tokenization technology. Diversifying into custody solutions is a milestone in Ripple’s business and product strategy, bringing new revenue opportunities to the company.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Standard General Makes Late Bid To Sway FCC On Tegna Deal

Law 360 M&A

Standard General and Tegna are making a last-ditch effort to persuade the Federal Communications Commission to vote on their $8.6 billion merger before the deal expires on Monday, offering to buy back the securities that would give a private equity company a minority stake in the deal.

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M&A crackdown a ‘disaster’ for pharma sector, Pfizer executive warns

Financial Times M&A

Development chief raises worry over innovation after FTC sues to block Amgen-Horizon deal

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T-Mobile Cites DC Circ.'s Meta Ruling In Merger Challenge

Law 360 M&A

T-Mobile has told an Illinois federal court that the D.C. Circuit's recent ruling in a case challenging past acquisitions by Meta Platforms supports a bid to toss a suit from mobile subscribers challenging the mobile phone company's $26 billion merger with Sprint on antitrust grounds.

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Introduction to Blockchain for Audit, Risk, and Compliance Professionals

Audit Board

Blockchain technology is transforming the world of audit, risk, and compliance. Decentralized, transparent, and secure, blockchain can enhance financial data’s accuracy and completeness, reduce fraud and error risk, and enable more efficient and effective audit processes — but it also introduces new risks. Because using blockchain results in automation of some processes, it has the potential to circumvent manual controls already in place.

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Deal Killers, War Stories & The Ugly Truth About the Long No

Scott Mashuda

REAG at the 2023 Exit Planning Summit If you’re attending the 2023 Exit Planning Summit , make sure to attend REAG’s exclusive sessions. The 2023 Exit Planning Summit is the premier conference dedicated to helping Certified Exit Planning Advisors ( CEPAs ) work with business owners to accelerate business value, align personal and financial strategies, and successfully transfer ownership.

Equity 52
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Internal Audit's Role in Modeling and Promoting an Ethical Culture

Audit Board

As internal auditors, we have the privilege and responsibility of being among the guardians of trust within our organizations. While we should work tirelessly to identify and report ethical misconduct, we must also recognize that we are not immune to ethical breaches ourselves. In Blind Spots: Why We Fail to Do What’s Right and What to Do About It , authors Max Bazerman and Ann Tenbrunsel write: “Our minds are subject to bounded ethicality, or cognitive limitations that can make us unaware of t

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FCPT Announces Acquisition of two Fast Pace Health Properties for $4.9 Million

Business Wire M&A

MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of two Fast Pace Health properties for $4.9 million. Fast Pace Health is an urgent care provider with more than 200 healthcare centers throughout the United States.

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Medaro Mining Enters Into Agreement to Acquire James Bay Pontax Lithium Project

Benzinga

VANCOUVER, British Columbia, May 17, 2023 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA , OTC: MEDAF ) (" Medaro " or the " Company ") is pleased to announce that it has entered into a share purchase agreement (the " SPA ") to acquire 100% of the issued and outstanding shares of 1411409 B.C. Ltd. (the " Target "), a company holding a 100% interest in the mining claims comprising the James Bay Pontax Project (the " Project ") in Quebec, Canada (the " Acquisition ").

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Why Do I Need An Exit Strategy?

Benchmark Report

Don’t Delay As a business owner, an exit plan is critical to preparing you and your company ready for retirement or your next act. Unfortunately, many business owners do not realize the importance of exit strategies, so they don’t feel like it’s worth taking the time to craft one. This is often a huge mistake. It doesn’t matter if you do not plan on selling or retiring soon.

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Why Are eMagin Shares Trading Higher Wednesday

Benzinga

eMagin Corp (NYSE: EMAN ) shares are trading higher Wednesday since it inked a deal to get acquired by Samsung Electronics Co, Ltd's (OTC: SSNLF ) Samsung Display Co, Ltd. Samsung proposes to snap eMagin for $2.08 per share in cash in a transaction valued at approximately $218 million. eMagin. Full story available on Benzinga.

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SAS 145 Blog—Identifying and evaluating general IT controls

ThomsonReuters

As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. In this last post, we’ll look at risks that can arise from the use of IT in accounting and auditing. General IT controls Keeping in line with advancements in technology and the widespread use of automation tools and techniques, SAS 145 acknowledges the use o

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What's Going On With PayPal Shares Today

Benzinga

PayPal Holdings Inc (NASDAQ: PYPL ) has reportedly been considering buyers to divest money transfer service provider Xoom Corp. The company is working with Goldman Sachs Group, Inc. (NYSE: GS ) on the sale procedure, reported The Information. PayPal acquired Xoom in 2015 for about $1 billion in order to enter a growing international remittance market.

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Value Drivers for a Distributorship

Peak Business Valuation

Distributorship, also known as multi-level marketing or direct selling, is a growing industry. The industry has grown by 5.3%. Experts expect growth to continue by about 0.5% each year. This is due to low startup costs and the appeal of extra income to individuals. When valuing a distributorship , it is important to understand the industry. The industry includes the direct selling of home goods, cosmetics, coffee-break services, vitamins, nutritional supplements, newspaper routes, party-planning

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Bowman Consulting Acquires Engineering Services Firm Hole Montes For Undisclosed Sum

Benzinga

Bowman Consulting Group Ltd (NASDAQ: BWMN ) announces the purchase of Hole Montes, Inc., an engineering services firm. Deal terms were not disclosed. Hole Montes offers an extensive portfolio of infrastructure planning services from Naples, Florida, and Fort Myers, Florida, offices. It has a workforce of 65 professionals. “Hole Montes is a well-respected firm with a long-established presence.

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VICI Properties Inc. to Acquire Four Properties in Alberta Canada in Sale-Leaseback Transaction With Century Casinos, Inc.

Business Wire M&A

NEW YORK--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced that it has entered into definitive agreements to acquire the real estate assets of Century Casino & Hotel Edmonton, Century Casino St.

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eBay Acquires AI Based Apparel Services Provider Certilogo For Undisclosed Sum

Benzinga

eBay Inc (NASDAQ: EBAY ) has signed a definitive agreement to acquire Certilogo , a provider of AI-powered apparel and fashion goods digital IDs and authentication. Financial details of the transaction were not disclosed. Certilogo's platform. Full story available on Benzinga.

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Blackstone Consortium Sells £2.7B In LSEG Shares

Law 360 M&A

A consortium including Blackstone Inc. and Thomson Reuters Corp. has offloaded £2.7 billion ($3.4 billion) worth of shares in the London Stock Exchange Group, bookrunner Barclays Bank PLC said Wednesday.

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Arthur J. Gallagher Acquires Ireland-Based Allied Risk Management To Boost Actuarial Capabilities

Benzinga

Arthur J. Gallagher & Co.'s (NYSE: AJG ) subsidiary Artex Risk Solutions has acquired Ireland-based Allied Risk Management. Deal terms were not disclosed. Based in Dublin, Allied Risk provides insurance, reinsurance management, and actuarial services to clients globally. "Allied Risk is a highly respected company. Full story available on Benzinga.

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UBS details lower than expected $35bn gain from Credit Suisse rescue

Financial Times M&A

Swiss bank expects asset writedowns and litigation provisions to total $17bn

Banking 81
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B. Riley Financial Acquires Stake In Fashion Brand Scotch & Soda

Benzinga

B. Riley Financial, Inc. (NASDAQ: RILY ) has acquired an equity interest in Scotch & Soda through its participation in the recent acquisition of the fashion brand by Bluestar Alliance. Scotch & Soda is a Dutch fashion label that offers collections for menswear, womenswear, childrenswear, denim, eyewear, fragrances, and accessories. Bluestar will keep the.

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