Finance

De Goudse to Purchase Leidsche From Reinsurance Group of America

Tuesday, July 7, 2020 - 2:00pm

Reinsurance Group of America, Incorporated (NYSE: RGA) (RGA) today announced that it has agreed to sell its Dutch life insurance company, Leidsche Verzekering Maatschappij N.V. (Leidsche), to De Goudse N.V. (De Goudse).

Key Points: 
  • Reinsurance Group of America, Incorporated (NYSE: RGA) (RGA) today announced that it has agreed to sell its Dutch life insurance company, Leidsche Verzekering Maatschappij N.V. (Leidsche), to De Goudse N.V. (De Goudse).
  • For many years, life insurance has been one of the most important pillars of De Goudse, said Geert Bouwmeester, Chief Executive Officer, De Goudse.
  • Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.4 trillion of life reinsurance in force and assets of $75.7 billion as of March 31, 2020.
  • With headquarters in St. Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions.

Prepare for a Cooldown: CoreLogic Reports Home Prices Were Up in May, but Could Slump Over the Summer

Tuesday, July 7, 2020 - 1:00pm

Despite new contract signings rising year over year in May, home price growth is expected to stall in June and remain that way throughout the summer.

Key Points: 
  • Despite new contract signings rising year over year in May, home price growth is expected to stall in June and remain that way throughout the summer.
  • CoreLogic HPI Forecast predicts a month-over-month price decrease of 0.1% in June and a year-over-year decline of 6.6% by May 2021.
  • For example, single-family home prices in Philadelphia experienced an annual gain of 7.7% in May, compared to San Franciscos 1.1%.
  • CORELOGIC, the CoreLogic logo, CoreLogic HPI and CoreLogic HPI Forecast are trademarks of CoreLogic, Inc. and/or its subsidiaries.

Investment in Technology Key to Winning War for Financial Advisor Talent, J.D. Power Finds

Tuesday, July 7, 2020 - 1:00pm

Power 2020 U.S. Financial Advisor Satisfaction StudySM, released today, the successful execution of that investment will be key to firms ability to attract and retain advisor talent.

Key Points: 
  • Power 2020 U.S. Financial Advisor Satisfaction StudySM, released today, the successful execution of that investment will be key to firms ability to attract and retain advisor talent.
  • While firms are investing heavily, many have been missing the mark on delivering technologies that truly meet advisor needs.
  • In fact, just 48% of advisors say the core technology their firm currently provides is very valuable.
  • Following are some key findings of the 2020 study:
    Improvements in technology key differentiator for advisors: Whether advisors perceive their firms technology is improving has become the most significant indicator of advisor satisfaction among both employee and independent advisors.

SmartBiz Loans® Survey: Tidal Wave of Demand for Additional Small Business Funding After PPP

Tuesday, July 7, 2020 - 2:00pm

This survey illustrates that there is a tidal wave of demand coming from small business owners for continued access to low-cost capital, says Evan Singer, CEO of SmartBiz Loans.

Key Points: 
  • This survey illustrates that there is a tidal wave of demand coming from small business owners for continued access to low-cost capital, says Evan Singer, CEO of SmartBiz Loans.
  • Also, 48% of the businesses say they intend to apply for additional funding with their PPP lender or primary bank, suggesting there is a large opportunity for banks and PPP lenders to help their small business clients with funding after PPP.
  • 50% of the responses came from SurveyMonkeys national panel of small and medium size business owners and 50% came from an internal sample of SmartBiz small business customers funded with a PPP loan by a bank in the SmartBiz network.
  • SmartBiz Loans (www.smartbizloans.com) is the #1 online platform for traditional SBA 7(a) loans under $350,000 helping banks and their clients streamline the SBA and small business lending process.

Cybersecurity Luminaries from Microsoft, Intuit, Zscaler and Kraft Heinz join YL Ventures’ Growing Venture Advisory Board to Guide Israeli Cybersecurity Startups to Success

Tuesday, July 7, 2020 - 2:00pm

YL Ventures , the prominent seed-stage global venture capital firm investing in Israeli cybersecurity startups, today announced significant expansion of its industry-leading Venture Advisory Board.

Key Points: 
  • YL Ventures , the prominent seed-stage global venture capital firm investing in Israeli cybersecurity startups, today announced significant expansion of its industry-leading Venture Advisory Board.
  • View the full release here: https://www.businesswire.com/news/home/20200707005289/en/
    YL Ventures today announced significant expansion of its industry-leading Venture Advisory Board.
  • (Photo: Business Wire)
    Determined to diversify its talent pool of experts, YL Ventures is especially committed to increasing its representation of women.
  • The Venture Advisory Board, launched in 2018, reflects YL Ventures unique focus on bridging the gap between Israeli innovation and U.S. end markets.

Gold Payment Service Granted License in Arizona, Where Citizens Can Use Gold As Money

Tuesday, July 7, 2020 - 1:00pm

Arizona has the unique advantage of being one of a growing number of U.S. states to accept gold as legal tender.

Key Points: 
  • Arizona has the unique advantage of being one of a growing number of U.S. states to accept gold as legal tender.
  • Coro Global Inc. believes in the power of gold - the worlds oldest and most trusted form of money - to bring stability back into the financial system.
  • We believe that all U.S. states should allow gold to be used freely as money, said J.
  • Coro wants U.S. citizens to be able to use gold in its physical and digital forms, according to their preference, said Goode.

NYSE Leads in IPO Proceeds for First Half of 2020 as New SPAC Listings Surge

Tuesday, July 7, 2020 - 1:00pm

The New York Stock Exchange (NYSE), a wholly-owned subsidiary of Intercontinental Exchange (NYSE: ICE), ranked as the leader in U.S. IPO proceeds for the first half of 2020, raising $19.0 billion in new offerings, including a surge of SPAC listings that are increasingly being chosen as an alternative path to the public markets.

Key Points: 
  • The New York Stock Exchange (NYSE), a wholly-owned subsidiary of Intercontinental Exchange (NYSE: ICE), ranked as the leader in U.S. IPO proceeds for the first half of 2020, raising $19.0 billion in new offerings, including a surge of SPAC listings that are increasingly being chosen as an alternative path to the public markets.
  • Total capital raised on NYSE increased by 24% over the first half of 2019 and includes an industry-leading $19.0 billion in U.S. IPO proceeds.
  • NYSE Group is a subsidiary of Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services.
  • NYSE Groups equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca, NYSE Chicago and NYSE National -- trade more U.S. equity volume than any other exchange group.

Wintermute Raises $2.8M Series A Funding Led by Lightspeed Venture Partners to Make Crypto Markets More Liquid and Efficient

Tuesday, July 7, 2020 - 2:01pm

Wintermute , an algorithmic liquidity provider for digital assets, today announced the close of a $2.8M Series A round led by Lightspeed Venture Partners (Lightspeed).

Key Points: 
  • Wintermute , an algorithmic liquidity provider for digital assets, today announced the close of a $2.8M Series A round led by Lightspeed Venture Partners (Lightspeed).
  • The growing number of crypto exchanges is leading to an increased need for market making, and that is where Wintermute comes in, said Jeremy Liew, partner, Lightspeed Venture Partners.
  • With its strategic, tech-first approach, Wintermute is making it easier for retail and institutional investors to buy and sell crypto.
  • Wintermute is a next generation, crypto-native market maker, focused on building a decentralized financial system by creating efficient, liquid markets with transparent prices.

Bulldog Investors Reaches Settlement Agreement with BrandywineGLOBAL-Global Income Opportunities Fund

Tuesday, July 7, 2020 - 1:30pm

Bulldog Investors, LLC (Bulldog) today announced that it has reached a settlement agreement with BrandywineGLOBAL-Global Income Opportunities Fund (NYSE: BWG) regarding shareholder approval of a new management agreement between BWG and Legg Mason Partners Fund Advisor, LLC.

Key Points: 
  • Bulldog Investors, LLC (Bulldog) today announced that it has reached a settlement agreement with BrandywineGLOBAL-Global Income Opportunities Fund (NYSE: BWG) regarding shareholder approval of a new management agreement between BWG and Legg Mason Partners Fund Advisor, LLC.
  • The complete settlement agreement will be included in a filing made with the Securities and Exchange Commission.
  • We are pleased to have reached this agreement with the Board, which is the result of ongoing constructive engagement.
  • Bulldog Investors LLC is an SEC-registered investment adviser that manages Special Opportunities Fund, Inc. (NYSE:SPE), a registered closed-end investment company, and separately managed accounts.

ESMA updates its Q&As on MiFID II and MiFIR transparency - July 2020

Wednesday, July 8, 2020 - 1:05pm

The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, updated today its Questions and Answers regarding transparency issues under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).

Key Points: 
  • The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, updated today its Questions and Answers regarding transparency issues under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).
  • The new Q&A document provides technical clarifications for the performance of the mandatory systematic internaliser (SI) test.
  • The purpose of this Q&A is to promote a common supervisory approach and practices in the EU on the application of MiFID II and MiFIR, in particular in the performance of the mandatory SI test.
  • ESMA will continue to develop Q&As in the coming months and will review and update them where required.