External debt

The McWhorter Foundation To Call On Sequoia Capital and Industry Leaders Alongside C.K. McWhorter For Support In Further Diversifying Tech Entrepreneurship

Retrieved on: 
Tuesday, April 2, 2024
Physics, External debt, Environment, Wi-Fi, Telephone, Internet, Entrepreneurship, IBM, Woman, Ecosystem, Safety, Invention, STP, Sequoia Capital

SILICON VALLEY, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- The McWhorter Foundation announces it will call on Sequoia Capital in support of further diversifying tech entrepreneurship.

Key Points: 
  • SILICON VALLEY, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- The McWhorter Foundation announces it will call on Sequoia Capital in support of further diversifying tech entrepreneurship.
  • Research underscores that startups led by Black entrepreneurs face more significant challenges, including securing external capital, particularly external debt.
  • Similarly, women in tech, especially those from underrepresented backgrounds, encounter severe limitations in securing venture capital, crucial for rapid business growth despite representing a significant portion of U.S.-owned businesses.
  • McWhorter Foundation has not registered with the U.S. Securities and Exchange Commission (SEC) and may operate under exemptions.

No party won a majority in Pakistan’s contentious election. What happens now?

Retrieved on: 
Wednesday, February 14, 2024
Engineering, PTI, Internet, Woman, Muttahida Qaumi Movement, External debt, Government, IMF, MQM, PPP, Muslim League, PMLN, Politics, Negotiation, International Monetary Fund, Unemployment

With 98 of 264 seats, independents in Pakistan — who are backed by the imprisoned former prime minister Imran Khan’s Tehreek-e-Insaaf (PTI) party — won the most seats.

Key Points: 
  • With 98 of 264 seats, independents in Pakistan — who are backed by the imprisoned former prime minister Imran Khan’s Tehreek-e-Insaaf (PTI) party — won the most seats.
  • The Pakistan Muslim League (PMLN), with 76 seats, trailed behind PTI while the Pakistan People’s Party (PPP) won 54 seats.

Coalition speculation

  • There is speculation about a coalition between PMLN and the PPP, with PTI-backed independents joining either party or a smaller party to gain a share of the parliament’s remaining 70 seats.
  • Khan’s PTI leadership is reportedly convening to discuss the results, though it’s signalling it has no intention of forming a coalition government with the PPP and PMLN.
  • Each of them could possibly become the prime minister of a coalition government if an agreement is reached.

Crackdowns cause outrage

  • The unrest continues as citizens hold widespread protests across the country over allegations of vote rigging and vote counts that took as long as three days.
  • With a hung parliament, intensifying political instability and a scramble to attain power are in full force in Pakistan.

Military as the puppet-master

  • Read more:
    As Pakistani election looms, the military maintains its grip on the country's politics

    Using political repression, military generals have controlled the democratic process and electoral outcomes since Pakistan’s foundation in 1947.

  • Khan blamed the military for the overthrow of his democratically elected government in 2022 through a no-confidence vote.
  • In a country where the military reigns supreme, PTI’s performance upended most political predictions that anyone who crosses the military cannot win.

Will the military stand down?

  • Experts believe the military must now seek reconciliation with Khan rather than support an unsustainable coalition against the PTI.
  • Given the growing wave of discontent against the Pakistan army, it would be wise to protect itself against further accusations of political meddling.
  • It’s now up to Pakistan’s major political players to figure out who’s going to lead the country.


Noor Mirza does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

BAE Systems Secures Regulatory Approvals for Acquisition of Ball Aerospace

Retrieved on: 
Wednesday, February 14, 2024
Defense, Satellite, Technology, Aerospace, Manufacturing, Military, Hardware, Acquisition, Ball Corporation, Multimedia, C4ISR, Ball, External debt, Electronic Systems, Intelligence, BAE Systems, Intelligence community, Spacecraft, Map, Ball Aerospace & Technologies, Risk management

Further to the announcement of 17 August 2023, BAE Systems has now received the necessary regulatory approvals and will be executing steps in the coming days to complete the acquisition of Ball Aerospace from Ball Corporation.

Key Points: 
  • Further to the announcement of 17 August 2023, BAE Systems has now received the necessary regulatory approvals and will be executing steps in the coming days to complete the acquisition of Ball Aerospace from Ball Corporation.
  • BAE Systems and Ball Corporation will be executing the plan to complete the acquisition in the coming days.
  • BAE Systems shall provide 2024 Group guidance at our preliminary results on 21 February 2024 incorporating the acquisition.
  • “We look forward to welcoming the employees of Ball Aerospace to BAE Systems, bringing one of industry’s most respected and capable businesses into the Group.

goeasy Ltd. Reports Results for the Fourth Quarter and Full Year & Announces Increase to Automotive Securitization Facility

Retrieved on: 
Tuesday, February 13, 2024
Acquisition, Wells Fargo, Note, Automotive industry, Investment, Bank, TSX, External debt, Growth, Sale, Bank of Montreal, Adjustment, GSY, Legislation, Currency swap, Probability, EPS, Goeasy

MISSISSAUGA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, today reported results for the fourth quarter and full year ended December 31, 2023 and announced a $125 million increase to its existing revolving securitization warehouse facility collateralized by automotive consumer loans (the “Automotive Securitization Facility”) from $375 million to $500 million, including a 1-year term extension.

Key Points: 
  • During the quarter, the Company generated loan originations of $705 million, up 12% compared to $632 million produced in the fourth quarter of 2022.
  • At quarter end, the consumer loan portfolio was $3.65 billion, up 30% from $2.79 billion in the fourth quarter of 2022.
  • Operating income for the fourth quarter of 2023 was a record $137 million, up 81% from $76 million in the fourth quarter of 2022.
  • Adjusted operating margin1 for the fourth quarter was a record 41.6%, up from 36.5% in the same period in 2022.

goeasy Ltd. Reports Record Results for the Third Quarter

Retrieved on: 
Tuesday, November 7, 2023
Bank, Bank of Montreal, GSY, History, External debt, Acquisition, Growth, EPS, Wells Fargo, Loan origination, Goeasy, TSX, Hilltop Holdings Inc., Video game, Cryptocurrency, MISSISSAUGA

MISSISSAUGA, Ontario, Nov. 07, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, today reported results for the third quarter ended September 30, 2023.

Key Points: 
  • During the quarter, the Company generated a record $722 million in loan originations, up 13% compared to $641 million produced in the third quarter of 2022.
  • At quarter end, the consumer loan portfolio was $3.43 billion, up 33% from $2.59 billion in the third quarter of 2022.
  • Operating income for the third quarter of 2023 was a record $127 million, up 39% from $91 million in the third quarter of 2022.
  • Adjusted operating margin1 for the third quarter was a record 40.4%, up from 36.2% in the same period in 2022.

Fineqia Closes Final Tranche of Private Placement in Nearly 1.5x Oversubscribed Round

Retrieved on: 
Friday, September 15, 2023
Warrant, Acceleration, Sale, OTC, CSE, FNQ, External debt, Security (finance)

The Company has issued 55,015,836 Units (the "Units") to raise gross proceeds of C$550,158.36 and conversion of external debt of C$5,000 in this tranche.

Key Points: 
  • The Company has issued 55,015,836 Units (the "Units") to raise gross proceeds of C$550,158.36 and conversion of external debt of C$5,000 in this tranche.
  • This follows the closure of the Company's second tranche on Aug. 15, 2023, for C$309,696, and the first tranche on Jun.
  • "We're excited to announce the successful closure of our third and final private placement phase," said Fineqia CEO, Bundeep Singh Rangar.
  • The success of the private placement led to an overallotment of C$454,598.61, 45,459,598.61 Units.

Fineqia Closes Final Tranche of Private Placement in Nearly 1.5x Oversubscribed Round

Retrieved on: 
Friday, September 15, 2023
Warrant, Acceleration, Sale, OTC, CSE, FNQ, External debt, Security (finance)

The Company has issued 55,015,836 Units (the "Units") to raise gross proceeds of C$550,158.36 and conversion of external debt of C$5,000 in this tranche.

Key Points: 
  • The Company has issued 55,015,836 Units (the "Units") to raise gross proceeds of C$550,158.36 and conversion of external debt of C$5,000 in this tranche.
  • This follows the closure of the Company's second tranche on Aug. 15, 2023, for C$309,696, and the first tranche on Jun.
  • "We're excited to announce the successful closure of our third and final private placement phase," said Fineqia CEO, Bundeep Singh Rangar.
  • The success of the private placement led to an overallotment of C$454,598.61, 45,459,598.61 Units.

BAE Systems plc – Proposed acquisition of Ball Aerospace

Retrieved on: 
Thursday, August 17, 2023
Aerospace, Manufacturing, Defense, Military, Other Defense, Acceleration, Intelligence, Cisco Webex, Workforce, Agreement, United States Department of Defense, Ball Aerospace & Technologies, Electronic warfare, Atmosphere, Face, National security, Culture, Policy, Spacecraft, EBIT, Share repurchase, EBITDA, Acquisition, C4ISR, Ball Corporation, BAE Systems, External debt, BAE Systems Inc., Growth, Electronic Systems, Intelligence community, Completion, Listing Rules, Australian Intelligence Community, Arms industry, Cryptocurrency, Retail, Risk management, Bank

BAE Systems plc (“BAE Systems” or the “Company”) announces that it has entered into a definitive Stock Purchase Agreement to acquire the Ball Aerospace business from Ball Corporation for c.$5.55bn in cash, subject to customary closing adjustments.

Key Points: 
  • BAE Systems plc (“BAE Systems” or the “Company”) announces that it has entered into a definitive Stock Purchase Agreement to acquire the Ball Aerospace business from Ball Corporation for c.$5.55bn in cash, subject to customary closing adjustments.
  • Ball Aerospace is a leading provider of spacecraft, mission payloads, optical systems, and antenna systems with decades of proven success underpinned by world class advanced technologies.
  • Our mission of We Protect Those Who Protect Us® resonates with the Ball Aerospace team, and our adjacent and augmented positions across the defence, intelligence, and scientific markets will strengthen our outlook and benefit BAE Systems, the Ball Aerospace business, and customers alike.
  • BAE Systems plc and its directors accept no liability to third parties in respect of any such forward-looking statements.

goeasy Ltd. Reports Record Results for the Second Quarter

Retrieved on: 
Wednesday, August 9, 2023
Royal Bank of Canada, Hilltop Holdings Inc., National bank, GSY, Sale, Royal Bank, Acquisition, Loan origination, External debt, TSX, Growth, EPS, Bank, Environment, Goeasy, Video game, Cryptocurrency, MISSISSAUGA

MISSISSAUGA, Ontario, Aug. 09, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, today reported results for the second quarter ended June 30, 2023.

Key Points: 
  • During the quarter, the Company produced record loan originations of $667 million, up 6% compared to $628 million originated in the second quarter of 2022.
  • At quarter end, the consumer loan portfolio was a record $3.20 billion, up 35% from $2.37 billion in the second quarter of 2022.
  • The growth in consumer loans led to an increase in revenue, which was a record $303 million in the quarter, up 20% from $252 million in the second quarter of last year.
  • Operating income for the second quarter of 2023 was a record $111 million, up 30% from $85 million in the second quarter of 2022.

AM Best Affirms Credit Ratings of Core Traditional Insurance Subsidiaries of Grupo Catalana Occidente S.A.

Retrieved on: 
Thursday, July 13, 2023
Banking, Professional Services, Insurance, Finance, AM Best, SCO, GCO, ALL, Risk management, Credit, PU, External debt, AM, News, SB, S.A

All three companies are wholly owned subsidiaries of Grupo Catalana Occidente S.A. (GCO), the non-operating holding company of the GCO group, and are the traditional insurance business units of the group.

Key Points: 
  • All three companies are wholly owned subsidiaries of Grupo Catalana Occidente S.A. (GCO), the non-operating holding company of the GCO group, and are the traditional insurance business units of the group.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.