United States Department of the Treasury

United Bank Wins Sixth New Markets Tax Credit Allocation for $65 Million

Retrieved on: 
Wednesday, September 27, 2023

ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD). The award is the result of United Bank's ongoing commitment to enhancing the economic vitality of low-income communities in Alabama and in Northwest Florida. Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.

Key Points: 
  • ATMORE, Ala., Sept. 27, 2023 /PRNewswire/ -- United Bank is pleased to announce it has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury through UB Community Development (UBCD).
  • Today's announcement marks the sixth allocation United Bank and UBCD have received from the CDFI Fund totaling $360 million for Alabama and Florida.
  • United Bank has been awarded a $65 million New Markets Tax Credit Allocation by the Department of the Treasury.
  • The New Markets Tax Credit is a 39 percent federal tax credit, taken over seven years on investments made in those communities.

Russell Investments’ Q4 2023 Global Market Outlook: Strategists See Limited Upside for Equities, Mild Recession in 2024

Retrieved on: 
Tuesday, September 26, 2023

“A soft landing for the U.S. economy where recession is avoided is possible, but we still think a mild recession is likely,” said Andrew Pease, global head of investment strategy at Russell Investments.

Key Points: 
  • “A soft landing for the U.S. economy where recession is avoided is possible, but we still think a mild recession is likely,” said Andrew Pease, global head of investment strategy at Russell Investments.
  • The team believes 10-year U.S. Treasury yields near 4.3% offer good value and recession risks provide cycle support.
  • Russell Investments’ strategists summarize their Q4 2023 asset-class preferences as follows:
    Equities have limited upside with recession risk on the horizon.
  • Oil has benefited from the OPEC+ supply cuts, though the upside appears limited given the subdued Chinese economy.

Bitget to List PayPal USD (PYUSD): A New Era of Compliance in Crypto Trading

Retrieved on: 
Tuesday, September 26, 2023

The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.

Key Points: 
  • The daily trading volume stands at an impressive 1.76 million US dollars, with significant contributions from top exchanges worldwide.
  • "We are excited to welcome PayPal USD to our platform," said Gracy Chen, Managing Director of Bitget.
  • With PYUSD, traders on Bitget can experience the benefits of a stablecoin that blends cutting-edge technology with rigorous compliance standards, all while enhancing their trading experience."
  • The listing of PYUSD on Bitget signifies a pivotal moment in the crypto trading landscape, one that merges cutting-edge technology with rigorous compliance standards, ultimately empowering traders and enhancing the overall trading experience.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in PacWest Bancorp of Class Action Lawsuit and Upcoming Deadline – PACW

Retrieved on: 
Monday, September 25, 2023

NEW YORK, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.

Key Points: 
  • NEW YORK, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.
  • To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext.
  • PacWest operates as a holding company for its wholly-owned subsidiary, Pacific Western Bank (“PWB”), a regional bank based in Los Angeles, California.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

JOSH WARREN NAMED CHIEF FINANCIAL OFFICER OF ENVESTNET INC.

Retrieved on: 
Monday, September 25, 2023

BERWYN, Pa., Sept. 25, 2023 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV), a leading provider of integrated technology, intelligent data and wealth solutions, today announced that Joshua B. Warren is joining the company as Chief Financial Officer. Warren is an accomplished financial executive who served most recently as Managing Director and Global Head of Business Strategy for iShares and Index Investments for BlackRock. Warren will succeed Peter H. D'Arrigo who served as Chief Financial Officer since 2008.

Key Points: 
  • Warren will succeed Peter H. D'Arrigo who served as Chief Financial Officer since 2008.
  • Warren will initially serve as a senior advisor to the Company's Chief Executive Officer and will transition to become the Company's Chief Financial Officer effective November 15, 2023.
  • After the transition of Chief Financial Officer responsibilities, D'Arrigo will serve as a senior advisor to the Company's Chief Executive Officer through March 31, 2024.
  • I look forward to enhancing our market leadership position by focusing on executing with speed, scale, and efficiency while significantly expanding margins, cash flows and delivering value to clients and our shareholders," said Josh Warren, incoming Chief Financial Officer of Envestnet.

First Trust Launches XISE, the First U.S. Buffer ETF Designed to Provide a Level of Income

Retrieved on: 
Monday, September 18, 2023

First Trust Advisors L.P. (“First Trust” or “FTA”), a leading provider of exchange-traded funds (“ETFs”) and outcome-based strategies, today announced it has launched the FT Cboe Vest U.S. Equity Buffer & Premium Income ETF (Cboe: XISE ).

Key Points: 
  • First Trust Advisors L.P. (“First Trust” or “FTA”), a leading provider of exchange-traded funds (“ETFs”) and outcome-based strategies, today announced it has launched the FT Cboe Vest U.S. Equity Buffer & Premium Income ETF (Cboe: XISE ).
  • First Trust’s suite of Target Outcome ETFs has amassed approximately $11 billion in total net assets as of 8/31/2023.
  • * “We are thrilled to expand First Trust’s lineup of outcome‐based buffer ETFs with the launch of XISE,” said Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust.
  • However, investors will be subject to losses of SPY below the buffer level.

SAIC Announces Second Quarter of Fiscal Year 2024 Results

Retrieved on: 
Thursday, September 7, 2023

Diluted earnings per share for the quarter was $4.56 compared to $1.30 in the prior year quarter.

Key Points: 
  • Diluted earnings per share for the quarter was $4.56 compared to $1.30 in the prior year quarter.
  • Adjusted diluted earnings per share(1) for the quarter was $2.05 compared to $1.75 in the prior year quarter.
  • The weighted-average diluted shares outstanding during the quarter decreased to 53.9 million from 55.9 million during the prior year quarter.
  • The table below summarizes fiscal year 2024 guidance and represents the Company's views as of September 7, 2023.

CME Group and DTCC Receive Regulatory Approval for Enhanced Treasury Cross-Margining Arrangement Launching January 2024

Retrieved on: 
Tuesday, September 12, 2023

The arrangement will enable capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures and is expected to launch in January 2024.

Key Points: 
  • The arrangement will enable capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures and is expected to launch in January 2024.
  • Repo transactions that have Treasury collateral with a remaining time to maturity greater than one year will also be eligible for the enhanced cross-margining arrangement.
  • "We are pleased to have received regulatory approval of our enhanced cross-margining arrangement," said Laura Klimpel, General Manager of Fixed Income Clearing Corporation (FICC) & Head of SIFMU Business Development at DTCC.
  • "The approval of the arrangement paves the way for increased efficiency and resiliency of the overall U.S. Treasury Market, and we look forward to working with CME Group to deliver upon these important enhancements."

F/m Investments Launches F/m Opportunistic Income ETF (XFIX)

Retrieved on: 
Wednesday, September 6, 2023

F/m Investments LLC (“F/m”) , a wholly owned subsidiary of Diffractive Managers Group, LLC , announces the launch of the F/m Opportunistic Income ETF (NASDAQ-listed XFIX), expanding access to a top percentile, separately managed account strategy launched by F/m Investment affiliate Genoa Asset Management in 2009.1

Key Points: 
  • F/m Investments LLC (“F/m”) , a wholly owned subsidiary of Diffractive Managers Group, LLC , announces the launch of the F/m Opportunistic Income ETF (NASDAQ-listed XFIX), expanding access to a top percentile, separately managed account strategy launched by F/m Investment affiliate Genoa Asset Management in 2009.1
    XFIX seeks to maximize total return, including both income and appreciation, by identifying undervalued and opportunistic sectors and securities in the US fixed income markets.
  • It utilizes a “go anywhere” domestic approach to seek higher levels of total return compared to sector-specific or target-duration strategies.
  • “My portfolio management team and I will follow the same process in the ETF that has served our SMA clients since 2009,” said Baden.
  • “XFIX builds upon our innovative US Treasury ETF suite and recent novel mutual fund exemptive relief application,” said Morris.

VEON confirms unhindered trading of its shares, offers support to its investors

Retrieved on: 
Wednesday, September 6, 2023

Amsterdam, 6 September 2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (“the Company”), announces that it has issued a CEO Letter to current and potential investors, confirming the unhindered trading of its shares and offering the Company’s support to investors if they experience arbitrary obstacles to trading.

Key Points: 
  • Amsterdam, 6 September 2023 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (“the Company”), announces that it has issued a CEO Letter to current and potential investors, confirming the unhindered trading of its shares and offering the Company’s support to investors if they experience arbitrary obstacles to trading.
  • We have noted that the trading volumes of our shares are unusually low, and have received reports suggesting that certain brokers are arbitrarily declining orders to purchase VEON shares.
  • Allow me to reiterate once more that VEON is a global company, headquartered in Amsterdam, and listed on NASDAQ and Euronext Amsterdam stock exchanges.
  • We have no majority or ultimate controlling shareholder, and, as a publicly traded company, we have a diverse investor base including US, EU and UK investors.