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DMEGC Solar joins the United Nations Global Compact

Retrieved on:

Wednesday, April 3, 2024

Carbon, CDP, Annual report, Climate change, Environment, BBB, ESG, MSCI, SA8000, United Nations Global Compact, LCA, EPD, Renewable energy

DONGYANG, China, April 3, 2024 /PRNewswire/ -- Earlier this month, DMEGC Solar announced that it has officially joined the United Nations Global Compact (UNGC), claiming that this is part of its 2024 ESG plan and proof of its faithful practice of sustainable development.

Key Points:

DONGYANG, China, April 3, 2024 /PRNewswire/ -- Earlier this month, DMEGC Solar announced that it has officially joined the United Nations Global Compact (UNGC), claiming that this is part of its 2024 ESG plan and proof of its faithful practice of sustainable development.
DMEGC Solar has become well-known in the photovoltaic industry for its advantages on green production.
In another rating result released by the Global Environmental Information Research Center (CDP), DMEGC Solar achieved B in both climate change and water security, which is also an outstanding result in the photovoltaic industry.
In the company's annual report released earlier, DMEGC Solar's module shipments in 2023 exceeded 10GW, a year-on-year increase of 24.27%.

73% CNS ORR! FDA Granted ODD to Utidelone Injectable (UTD1) from Biostar Pharma for the Treatment of Breast Cancer Brain Metastasis

Retrieved on:

Friday, March 29, 2024

As of now, there is only one drug approved for the treatment of BCBM globally, suggesting huge unmet medical needs [1].

Key Points:

As of now, there is only one drug approved for the treatment of BCBM globally, suggesting huge unmet medical needs [1].
Utidelone has the ability to cross BBB due to its unique physicochemical characteristic and insusceptibility to P-glycoprotein-mediated efflux.
The FDA granted ODD to utidelone injectable for the treatment of BCBM based on these promising data.
Considering utidelone's excellent BBB-crossing capability and its therapeutic potential for brain tumors, Biostar Pharma also plans to advance the clinical studies of utidelone injectable for the treatments of other brain tumors such as lung cancer brain metastasis and glioma this year.

BBB Industries Releases 2023 Corporate Sustainability Report, Showcasing Company's Commitment to Sustainable Activities and Performance

Retrieved on:

Monday, March 25, 2024

Sustainability, Certification, Corporate sustainability, Recycling, BBB, International, Ethics, CSR, Safety

DAPHNE, Ala., March 25, 2024 /PRNewswire/ -- BBB Industries, LLC (BBB) , a leading sustainable manufacturer serving the automotive and industrial markets, published its 2023 Corporate Sustainability Report (CSR), highlighting the company's sustainable activities and performance.

Key Points:

DAPHNE, Ala., March 25, 2024 /PRNewswire/ -- BBB Industries, LLC (BBB) , a leading sustainable manufacturer serving the automotive and industrial markets, published its 2023 Corporate Sustainability Report (CSR), highlighting the company's sustainable activities and performance.
The report showcases BBB's progress in pursuing and achieving its sustainability goals through reducing its environmental footprint and promoting responsible environmental initiatives.
This year, BBB set a goal to decrease its scope 1 and scope 2 emissions by 50 percent before 2027.
The 2023 sustainability report can be read here: 2023 Corporate Sustainability Report .

BBB Industries Releases 2023 Corporate Sustainability Report, Showcasing Company's Commitment to Sustainable Activities and Performance

Retrieved on:

Monday, March 25, 2024

Sustainability, Certification, Corporate sustainability, Recycling, BBB, International, Ethics, CSR, Safety

DAPHNE, Ala., March 25, 2024 /PRNewswire/ -- BBB Industries, LLC (BBB) , a leading sustainable manufacturer serving the automotive and industrial markets, published its 2023 Corporate Sustainability Report (CSR), highlighting the company's sustainable activities and performance.

Key Points:

DAPHNE, Ala., March 25, 2024 /PRNewswire/ -- BBB Industries, LLC (BBB) , a leading sustainable manufacturer serving the automotive and industrial markets, published its 2023 Corporate Sustainability Report (CSR), highlighting the company's sustainable activities and performance.
The report showcases BBB's progress in pursuing and achieving its sustainability goals through reducing its environmental footprint and promoting responsible environmental initiatives.
This year, BBB set a goal to decrease its scope 1 and scope 2 emissions by 50 percent before 2027.
The 2023 sustainability report can be read here: 2023 Corporate Sustainability Report .

Solar Power Systems Announces the Launch of the "Find Solar Installers Near Me" Service

Retrieved on:

Monday, March 25, 2024

UL, Database, Specialization, BBB, Social media, Cons, System, Collection, Indeed, Renewable energy

With the launch of the "Find Solar Installers Near Me" service, customers can now enjoy a straightforward process of getting an online offer for solar panels with an approximate price estimate.

Key Points:

With the launch of the "Find Solar Installers Near Me" service, customers can now enjoy a straightforward process of getting an online offer for solar panels with an approximate price estimate.
Solar Power Systems features a " Find Solar Installers Near Me " functionality to streamline the search for solar power.
On the Solar Power Systems website, users should navigate to Find Solar Installer > Find Solar Near Me.
The newly launched service allows users to search solar installers by geolocation or by manually entering an address.

JinkoSolar Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Wednesday, March 20, 2024

Automation, The Company, Cell, BBB, MSCI, Topcon, ADS, Investment, Note, JinkoSolar, JKS, Renewable energy

SHANGRAO, China, March 20, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its unaudited financial results for the fourth quarter and fully year ended December 31, 2023.

Key Points:

SHANGRAO, China, March 20, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced its unaudited financial results for the fourth quarter and fully year ended December 31, 2023.
By the end of the fourth quarter, we had been granted 330 TOPCon patents, overtaking most brands on the N-type TOPCon patent list.
Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders was RMB29.3 million (US$4.1 million), compared with RMB1.32 billion in Q3 2023 and RMB665.0 million in Q4 2022.
As module prices fell more than expected in the fourth quarter and nearly 50% of our modules were sold to the Chinese market at lower prices, gross margin for the fourth quarter decreased significantly to 12.5% from 19.3% in the third quarter.

The impact of regulatory changes on rating behaviour

Retrieved on:

Tuesday, April 2, 2024

Długosz, Disagreement, Pi bond, Direct lending, Key, Research Papers in Economics, Finance Secretary (India), University of Oxford, STS, Journal of Economic Perspectives, International, American Economic Review, Life, Columbia Business School, British Academy of Management, Risk assessment, ABS, Rating, EBA, Development, Reputational damage, OBS, CRA, Bond credit rating, Cras, Journal of Monetary Economics, CDO, Becker, Paper, 2007–2008 financial crisis, Raja, University, Environment, Journal of Financial Economics, Perception, H3, Website, Securitization, Working paper, Market, Collection, Total, European Banking Authority, Quarterly Journal of Economics, BBB, Whetten, Column, ESMA, European Journal, Issuer, Asset quality, Information revolution, Federal Reserve Bank, OLS, Statistics, PDF, Private, ECB, Surety, Weighted-average life, CCC, European Commission, Social science, Journal of Financial Stability, JEL, Real, Bias, Journal, Research, Classification, Certification, Commission, Credit, The Journal of Finance, Literature, Karel Škréta, European Central Bank, AA, Finance Research Letters, Origination (telephony), Monetary economics, Section 5, Xia, Kraft Foods, Government, AAA, Mukherjee, Finance, Deku, DOI, White, Risk, IOSCO, MBS, OECD, Wang, Section 4, University Challenge 2013–14, Section 3, Ashcraft, Financial management, Accounting, Financial economics, Fannie Mae, Conference, Pressure, Central bank, Griffin, University of Michigan, Systematic review, EPRS, Freddie Mac, Loan, BCBS, Palgrave Macmillan, R2, Microeconomics, Quarterly Journal, Financial statement analysis, The Japanese Economic Review, Christian Social Union (UK), Green, University of Huddersfield, PSM, Management, Security (finance), Security, Civil service commission, Private placement, American Economic Journal, GFC, Reproduction, IMF, Small business, Trustee, Data

Abstract

Key Points:

Abstract
We examine rating behaviour after the introduction of new regulations regarding Credit Rating
Agencies (CRAs) in the European securitisation market.
There is empirical evidence of rating catering in the securitisation market in the pre-GFC period (He et al.,
2012; Efing and Hau, 2015).
Competition among
CRAs could diminish ratings quality (Golan, Parlour, and Rajan, 2011) and promotes rating shopping by
issuers resulting in rating inflation (Bolton et al., 2012).
This paper investigates the impact of the post-GFC regulatory changes in the European
securitisation market.
In 2011, in addition to the creation of
European Securities and Markets Authority (ESMA), a regulatory and supervisory body for CRAs was
introduced.
We examine how rating behaviours have changed in the European securitisation market after the
introduction of these new regulations.
We utilise the existence of multiple ratings and rating agreements between
CRAs to identify the existence of rating shopping and rating catering, respectively (Griffin et al., 2013; He
et al., 2012; 2016).
We find that the regulatory changes have been effective in tackling conflicts of interest between issuers
and CRAs in the structured finance market.
Rating catering, which is a direct consequence of issuer and
CRA collusion, seems to have disappeared after the introduction of these regulations.
There is empirical evidence of rating catering in the securitisation market in
the pre-GFC period (He et al., 2012; Efing and Hau, 2015).
Competition among CRAs could diminish ratings quality (Golan, Parlour,
and Rajan, 2011) and promotes rating shopping by issuers resulting in rating inflation (Bolton et
al., 2012).
This paper investigates the impact of the post-GFC regulatory changes in the European
securitisation market.
In 2011, in addition
to the creation of European Securities and Markets Authority (ESMA), a regulatory and
supervisory body for CRAs was introduced.
We find that the regulatory changes have been effective in tackling conflicts of interest
between issuers and CRAs in the structured finance market.
Rating catering, which is a direct
consequence of issuer and CRA collusion, seems to have disappeared after the introduction of
these regulations.
Investors who previously demanded higher spreads for rating agreements for a
multiple rated tranche, did not consider the effect of rating harmony as a risk in the post-GFC
period.
Regarding rating shopping, we find that the effectiveness of the changes has been limited,
potentially for two reasons.
Additionally, we also find that rating over-reliance might still be an issue, especially
Rating catering is a broad term and it can involve rating shopping.
They re-examine the rating shopping and rating
catering phenomena in the US market by looking at the post-crisis period between 2009 and 2013.
Using 622 CDO tranches, they also observe the existence of rating shopping and the diminishing
of the rating catering.
Firstly, our main focus is the EU?s CRA Regulation and its effectiveness in reducing
rating inflation and rating over-reliance.
To the best of our knowledge, this paper is the first to
examine the effectiveness of the EU?s CRA regulatory changes on the investors? perception of
rating inflation in the European ABS market.
Hence, the coverage and quality of our dataset constitutes significant addition
to the literature and allows us to test the rating shopping and rating catering more authoritatively.
The following section reviews the literature
on securitisation concerning CRAs and conflicts of interest, and outlines the regulatory changes
introduced in the post-GFC period.
Firstly, ratings became ever more important as the Securities and
Exchange Commission (SEC) 5 began heavily relying on CRA assessments for regulatory purposes
(i.e.
the investment mandates that highlight rating agencies as the main benchmark for investment
eligibility) (SEC, 2008; Kisgen and Strahan, 2010; Bolton et al., 2012).
issuers) as one of the main explanations for the rating inflation (He et al., 2011; 2012; Bolton
et al., 2012; Efing and Hau, 2015).
Bolton et al., (2012) demonstrate that competition
promotes rating shopping by issuers, leading to rating inflation.
The last phase, CRA III, was implemented in mid-2013 and involves an additional
set of measures on reducing transparency and rating over-reliance.
As mentioned above, rating inflation can be caused by rating shopping
In order to be eligible to use the STS classification, main parties (i.e.
The higher the difference in the number of ratings for a
given ABS tranche, the greater the risk of rating shopping.
Alternatively, the impact of the new
regulations could be limited when it comes to reducing rating shopping.
This is because, firstly,
the conflict of interest between securitisation parties is not necessarily the sole cause for the
occurrence of rating shopping.
L is a set of variables (Multiple ratings, CRA reported, Rating agreement) that
we utilise interchangeably to capture the rating shopping and rating catering behaviour.
Hence, issuers are incentivised to report the highest possible rating and
ensure each additional rating matches the desired level.
All in all, our results suggest that
the new stricter regulatory measures have been effective in tackling conflicts of interest and
reducing rating inflation caused by rating catering.
Self-selection might be a concern in analysing the impact of the
new measures and investors? response with regard to the rating inflation.
This
result is in line with the earlier findings suggesting that regulatory changes have reduced investors?
suspicion of rating inflation and increased trust of CRAs.
Conclusion
Several regulatory changes were introduced in Europe following the GFC aimed at tackling
conflicts of interest between issuers and CRAs in the ABS market.
Utilising a sample of 12,469
ABS issued between 1998 and 2018 in the European market, this paper examined whether these
changes have had any impact on rating inflations caused by rating shopping and rating catering
phenomena.
We find that the
effectiveness of the changes has been more limited on rating shopping potentially for two reasons.
Tranche Credit Rating is the rating reported for a tranche at launch.

FTC and Partners Kick Off National Consumer Protection Week 2024

Retrieved on:

Tuesday, April 2, 2024

As part of National Consumer Protection Week (NPCW), the Federal Trade Commission and its partners, including consumer organizations, national advocacy organizations, and other federal, state, and local government agencies will participate in several virtual and in-person events on issues such as avoiding scams, protecting people against identity theft, and reporting fraud for people in all communities.

Key Points:

As part of National Consumer Protection Week (NPCW), the Federal Trade Commission and its partners, including consumer organizations, national advocacy organizations, and other federal, state, and local government agencies will participate in several virtual and in-person events on issues such as avoiding scams, protecting people against identity theft, and reporting fraud for people in all communities.
During the week of March 2-8, 2024, the FTC and NCPW partners will host and participate in social media events, podcasts, webinars, and other events to help people understand their consumer rights and avoid fraud, scams, and identity theft.

Saturday, March 2 & Sunday, March 3
Monday, March 4
Tuesday, March 5
Wednesday, March 6
Thursday, March 7
Friday, March 8
For information on how to get involved, visit ftc.gov/NCPW.

Press release: Leonteq and Glarner Kantonalbank launch innovative 'bench' 3a pension savings solution

Retrieved on:

Wednesday, March 13, 2024

MSCI, BBB, Research, SIX Swiss Exchange, Fitch Ratings

Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes.

Key Points:

Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes.
Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions.
Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees.
www.leonteq.com
This press release issued by Leonteq AG (the “Company”) serves for information purposes only and does not constitute research.

Ørsted issues EUR green hybrid capital securities

Retrieved on:

Wednesday, March 13, 2024

ACT, Dark, BBB, ITS, Shades of green, Danske Bank, Darkness, Investment, J. P. Morgan, ANY, Tender offer, EUR, NOT, Morgan Stanley, Fitch, Citigroup, A/S, AS, HSBC, Security (finance)

Ørsted A/S (‘Ørsted’) announces its intention to issue a EUR benchmark size of subordinated green hybrid capital securities with first reset date after 5.75 years (NC5.75) and final maturity in 3024.

Key Points:

Ørsted A/S (‘Ørsted’) announces its intention to issue a EUR benchmark size of subordinated green hybrid capital securities with first reset date after 5.75 years (NC5.75) and final maturity in 3024.
The purpose of the new issue is to refinance Ørsted’s EUR 500 million 2.25 % EUR hybrid capital securities issued in 2017, with first reset date on 24 November 2024, and to proactively manage Ørsted’s hybrid capital portfolio.
Today, Ørsted is also inviting holders of these securities to tender their holdings for purchase by Ørsted – see separate company announcement relating to the Tender Offer.
Ørsted’s new green hybrid capital securities are expected to receive the rating of Baa3 by Moody’s, BB by Standard and Poor’s, and BBB- by Fitch.