Finance – Feminaust http://feminaust.org/ Tue, 20 Jul 2021 06:22:42 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://feminaust.org/wp-content/uploads/2021/04/cropped-icon-32x32.png Finance – Feminaust http://feminaust.org/ 32 32 The Complete Guide to Transferring Ownership from HDB, Money News https://feminaust.org/the-complete-guide-to-transferring-ownership-from-hdb-money-news/ https://feminaust.org/the-complete-guide-to-transferring-ownership-from-hdb-money-news/#respond Fri, 19 Mar 2021 08:44:14 +0000 https://feminaust.org/the-complete-guide-to-transferring-ownership-from-hdb-money-news/ Do you own an HDB or a proposed future owner? Either way, here’s everything you need to know about the property transfer process. If you are an HDB resident, there may come a time in your life when you feel the need to name another owner or just include them in the ownership of your […]]]>


Do you own an HDB or a proposed future owner? Either way, here’s everything you need to know about the property transfer process.

If you are an HDB resident, there may come a time in your life when you feel the need to name another owner or just include them in the ownership of your home.

This process is also known as the transfer of ownership.

There is a wide range of reasons why a transfer is necessary. According to HDB, some of the most common reasons can be reduced to the following:

  • Inclusion of owners (for example, naming your child as one of the owners)
  • Withdrawal from owners (for example, this will likely happen when your child, an existing owner, wants to buy their own home)
  • Replacement of owners (for example, replacement of child A by child B as owner)
  • Straightforward transfer (for example, handing over ownership of your home to your child)

As with all great events in life, there are a number of things to consider when embarking on a transfer process, for both proposed owners and existing owners. It’s definitely not as easy as submitting a request to HDB and calling it a day.

Don’t worry, we’ll walk you through the whole process step by step from start to finish, plus what to do once it’s all sorted out.

  • Before requesting the transfer of ownership
  • When requesting transfer of ownership

Before requesting the transfer of ownership

# 1. Check the eligibility of your proposed owners

Of course, you will need to know if future owners are allowed to take possession of your apartment before you can successfully appoint them as new owners.

The eligibility criteria, although long, boil down to this:

  • At least 21 years old
  • Must not already own another apartment
  • Singaporean citizen or permanent resident (PR)
  • Registration without infringement

# 2. Calculate the amount of money required

Now that you know the proposed owners are eligible, it’s time to get down to the numbers. Knowing the exact amount of money required is important to make a smooth transfer of ownership.

Here’s what you need to consider in your calculation:

Amount of sums = Outstanding mortgage loan + Repayment of CPF sums to outgoing owners + Transaction fees

The proposed owners have the possibility of financing the totality of the sums via their Ordinary Account (OA) CPF, a savings in cash or by requesting a housing loan.

# 3. Find out if a home loan is necessary

Not surprisingly, the total amount can be a substantial amount that requires a huge amount of money. This is where a mortgage is needed to cover the balance amount if the CPF funds and cash savings are not enough. If so, they can choose between applying for an HDB concessional loan or a bank loan.

READ ALSO : Transfer of ownership: HDB may seize apartments on the basis of misleading or false statements

If you want to get familiar with home loans and how they work, read all about it here.

# 4. Check your proposed landlord’s HDB loan eligibility

Note: Skip this step if you are taking out a bank loan.

Is your proposed landlord taking an HDB loan? Be sure to check if they are eligible before applying for an HDB Loan Eligibility Letter (HLE).

The HLE is a document that provides information on the maximum loan amount, the maximum repayment period and the amount of the monthly payment.

# 5. Settle unpaid bills

Before the transfer of ownership can proceed any further, both parties (and your spouses) must settle any unpaid resale taxes, upgrade costs or debts and all kinds of unpaid payments to HDB.

It is important that these payments be made as it could make or break your transfer of ownership request.

# 6. Hire a lawyer

Last but not least, use the services of a lawyer to represent you in the property transfer procedure. You can choose between a private lawyer or HDB to represent you.

Here’s what they do:

  • Act for existing owners transferring ownership
  • Act for the total discharge of the existing loan
  • Act for the owners proposed to transfer ownership
  • Act for the owners proposed in the new loan

When requesting transfer of ownership

# 1. Consult the terms and conditions

You are in the home stretch! . First, read HDB’s terms and conditions to make sure you’ve covered all of your bases.

To be particularly thorough (and to be sure not to forget anything), consult the checklist of required documents and submit them through the following online portals, MyHDBPage and MyDoc @ HDB.

# 2. Wait for the results of your candidate’s eligibility assessment

If your request went off without a hitch, the proposed owners should receive a letter from HDB advising them of the good news. The letter also includes the estimated fees to be paid and what to prepare before attending the final appointment.

# 3. Attend the final meeting at the HDB branch

At this point you have reached the finish line. To seal the deal, both parties (existing and proposed owners) will need to attend the final meeting with HDB. Attendance is required to complete the transaction – so either be there or be square.

Anecdote: the spouses are not spared by the final meeting and are also required to attend.

Here’s what happens during the all-important final date:

  1. Execute (sign) legal documents
  2. Recognize and confirm the new mortgage (note: this only applies if the proposed owners have applied for an HDB loan)
  3. Settle unpaid transaction fees

What happens after the flat transfer?

Existing and proposed owners should take note of HDB’s conditions for the apartment after the transfer process. This includes the minimum occupancy period (MOP), resale tax and seller’s stamp duty.

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The new owner will also need to reapply for certain things like approval to rent the apartment if they wish.

Pro Tip for New Homeowners: Pro Tip Now that your hard work has paid off, it might be worthwhile to educate yourself about home insurance should something unforeseen happen to your home.

Unlike your basic fire insurance, home insurance protects your home, as well as the valuable contents (and priceless items) inside.

This article first appeared in SingSaver.com.sg.



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To prevent fraud, banks plan to appoint agencies to monitor high value accounts https://feminaust.org/to-prevent-fraud-banks-plan-to-appoint-agencies-to-monitor-high-value-accounts/ https://feminaust.org/to-prevent-fraud-banks-plan-to-appoint-agencies-to-monitor-high-value-accounts/#respond Fri, 19 Mar 2021 08:44:14 +0000 https://feminaust.org/to-prevent-fraud-banks-plan-to-appoint-agencies-to-monitor-high-value-accounts/ In order to prevent fraud on high value accounts, banks are considering using the services of specialized monitoring agencies to closely monitor their activity, including purchases / invoices, actual production versus projections, transactions / high value payments such as payee and purpose, and cash inflows / outflows. The banks, under the aegis of the Indian […]]]>


In order to prevent fraud on high value accounts, banks are considering using the services of specialized monitoring agencies to closely monitor their activity, including purchases / invoices, actual production versus projections, transactions / high value payments such as payee and purpose, and cash inflows / outflows.

The banks, under the aegis of the Indian Banks’ Association (IBA), have set up a committee of senior bankers to pre-select and impale branches (for an initial period of three years) for specialist monitoring of loan accounts where the collective exposure is ₹ 500 crore and above.

Once the branches are set up, the lead bank of a consortium of banks will select a lender and give them the task of monitoring an account. The decision to appoint an external agency to monitor loans comes amid a backdrop where banks are reporting a 72% increase in year-over-year fraud to 41,168 crore yen in fiscal 2018, from 23,934 crore yen in fiscal 2018. during fiscal year 2017. According to the RBI, fraud has become the most serious concern in operational risk management, with 90 percent of it located in banks’ credit portfolios.

Working capital

In the case of working capital, banks will seek the help of specialized agencies to track purchases / invoices on a daily / weekly basis and compare them against the monthly operating budget submitted by the company; examine the constitution of stocks; monitor actual operations against projections; verify the high value transaction / payment with regard to payee and object; and evaluate financial information.

In addition, banks expect branches to do additional verification of evidence of a company’s end-use and usage of facilities, and to examine the source of the working capital / letter margin. credit / bank guarantee. In the case of term loans, the banks will engage the agencies to ensure proper monitoring of the implementation of the project, in accordance with the schedule and the use of funds (physical progress of the project compared to the injection of funds) .

Agencies will either conduct a physical inspection of the project at regular intervals or deploy a manager to the project site for ongoing monitoring and document reviews, as well as continuous monitoring of progress reports, especially against deadlines. ‘origin to avoid sudden overtaking shocks.

They will determine the progress and relevance of related transactions (such as payments made to contractors and sub-contractors, suppliers, orders placed and the commercial terms thereof) and deviations in the progress of the project from the deadlines and the amount disbursed.

S Ravi, accountant and banking expert, said that while the decision to appoint an external agency to monitor loans is a good move, the role between monitoring agencies and operational people in banks should be well defined.

“Most frauds in the recent past have mainly been due to embezzlement / unrelated activity. If a specialized agency is appointed, it will monitor all transactions in a downstream account on a day-to-day basis. Such an agency may be able to do a better job than a normal banker, ”said BK Divakara, former executive director of the Central Bank of India.

Non-financial parameters

Banks expect supervisory agencies to closely monitor industry specific trends, cyclical changes, government policies and suggest precautionary / mitigation measures, sustainability / sensitivity of products / activities ; perform supplier due diligence; report technological obsolescence; and recommend alternative measures, among others.



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First national company to acquire the Bank of https://feminaust.org/first-national-company-to-acquire-the-bank-of/ https://feminaust.org/first-national-company-to-acquire-the-bank-of/#respond Fri, 19 Mar 2021 08:44:13 +0000 https://feminaust.org/first-national-company-to-acquire-the-bank-of/ STRASBURG, Va. And FINCASTLE, Va., February 18, 2021 (GLOBE NEWSWIRE) – First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the banking holding company of First Bank (“First Bank”) and The Bank of Fincastle (“Fincastle”) (OTCPK: BFTL) jointly announced today that they have entered into a definitive merger agreement. Upon completion of the acquisition, […]]]>


STRASBURG, Va. And FINCASTLE, Va., February 18, 2021 (GLOBE NEWSWIRE) – First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the banking holding company of First Bank (“First Bank”) and The Bank of Fincastle (“Fincastle”) (OTCPK: BFTL) jointly announced today that they have entered into a definitive merger agreement.

Upon completion of the acquisition, the combined company is expected to have approximately $ 1.2 billion in assets, $ 868 million in loans, $ 1.0 billion in deposits and 20 branches across Virginia. First National expects the transaction to generate around 10% of earnings per share.

Commenting on the announcement, Scott Harvard, President and CEO of First National Corporation, said, “We are delighted to partner with another deeply rooted bank in its community, which began operating in the town of Fincastle in 1875. Together, our team of bankers will provide unparalleled service to our clients and communities and continue to make these communities better places to live and work. With this combination, First Bank will extend its reach from the top of Virginia in the south to the I-81 corridor to Roanoke, ensuring that our small and mid-sized Virginia markets continue to be served by an independent community bank of Virginia. “

First National will acquire Fincastle for a combination of stock and cash valued at approximately $ 3.09 per share for each outstanding common share of Fincastle. Under the terms of the agreement, Fincastle shareholders could elect, for each common share of Fincastle, to receive 0.1649 First National shares, or $ 3.30 in cash, or a combination of shares and cash, under the terms of the agreement. reserve a choice and proration such that the aggregate consideration will consist of 80 percent First National shares and 20 percent cash. Based on the closing First National share price of $ 18.40 as of February 17, 2021, this equates to a total transaction value of approximately $ 31.6 million.

Founded in 1875, the Bank of Fincastle currently operates six bank branches in and around the Metropolitan Statistical Area of ​​Roanoke. As of December 31, 2020, Fincastle was reporting assets of $ 256 million, gross loans of $ 202 million, and deposits of $ 224 million.

Scott Steele, President and CEO of Fincastle, said: “I am excited about the opportunity we have to partner with First National in a transaction that we believe offers significant opportunities to our customers, communities, employees and shareholders. This partnership is an excellent opportunity to create value for both institutions.

The merger treaty was unanimously approved by the boards of directors of each company. The transaction is expected to close in the third quarter of 2021, subject to approval by shareholders of both companies, regulatory approvals and other customary closing conditions.

First National and First Bank will appoint three directors of Fincastle to join the eight existing directors on each respective board of directors. Scott Steele, President and CEO of Fincastle, will join First Bank as Regional President of First Bank.

Piper Sandler & Co. acted as financial advisor and Nelson Mullins Riley & Scarborough, LLP provided legal advice to First National. Janney Montgomery Scott LLC acted as financial advisor, RP Financial, LC as equity advisor and Godfrey & Kahn, SC as legal advisor to Fincastle.

ABOUT FIRST NATIONAL CORPORATION

First National Corporation (NASDAQ: FXNC) is the parent company and banking holding company of First Bank, a community bank that opened in 1907 in Strasbourg, Virginia. First Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community and 14 bank branches located in the Shenandoah Valley, the central areas of Virginia and in the city of Richmond. In addition to providing traditional banking services, First Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which invests in entities that provide investment services and title insurance.

ABOUT FINCASTLE BANK

The Bank of Fincastle has been a leading provider of financial services in the Roanoke area since 1875 and offers a full range of banking, lending and investing products. Based in Fincastle, Va., The bank has six full-service branches, 13 ATMs, 7 a.m. to 7 p.m. in-car service, and offers online deposit accounts, loan applications. real estate and consumer online, online banking, mobile banking and 24/7 telephone banking. The Bank of Fincastle is a member of the FDIC, Equal Housing Lender and Equal Opportunity Employer.

ADDITIONAL INFORMATION ON THE ACQUISITION AND WHERE TO FIND IT

In connection with the proposed merger, First National will file with the United States Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4, which will include a joint power of attorney from First National and Fincastle. and a prospectus from First National National, as well as other relevant documents relating to the proposed transaction.

FIRST NATIONAL AND FINCASTLE SHAREHOLDERS ARE ADVISED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY / PROSPECTUS STATEMENT WHEN THEY BECOME AVAILABLE AND ANY OTHER DOCUMENTS FILED WITH THE SEC, AS WELL AS SUCH OR ANY AMENDED DOCUMENTS. , DUE TO IMPORTANT INFORMATION CONCERNING FIRST NATIONAL, FINCASTLE AND THE PROPOSED MERGER TRANSACTION.

Shareholders can obtain free copies of these documents, once they are filed, and other documents filed with the SEC on the SEC website at http://www.sec.gov. Shareholders will also be able to obtain these documents, once they have been filed, free of charge, by requesting them in writing from Scott C. Harvard, First National Corporation, 112 West King Street, Strasburg, Virginia 22657, or by telephone at (540 ) 465-9121, or from C. Scott Steele, The Bank of Fincastle, 17 South Roanoke Street, Fincastle, Virginia 24090, or by phone at (540) 473-2761.

First National, Fincastle and their respective directors and officers may be considered participants in the solicitation of proxies from the shareholders of First National and Fincastle in connection with the proposed merger. Information about the directors and officers of First National and Fincastle will be included in the Management Proxy Circular / Joint Prospectus when available. Additional information regarding the interests of such persons and other persons who may be considered to be participants in the transaction can be obtained by reading the proxy circular / joint prospectus relating to the proposed merger when it becomes available. You can get free copies of each document as described in the previous paragraph.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities or a solicitation of a vote or proxy in favor of the merger, the merger agreement or the transactions contemplated by it, and there will also be no sale of securities in any jurisdiction in which such offering, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

FORWARD-LOOKING STATEMENTS

Certain information in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to our plans, objectives, expectations and intentions, are not historical facts and are identified by words such as “believes”, “expects”, “anticipate”, “estimate”, “have intention ”,”, “targets” and “projects”, as well as a similar expression. Although the Company believes that its expectations with respect to forward-looking statements are based on reliable assumptions within the limits of its knowledge of its business and operations, there can be no assurance that the actual results, performance or achievements of the Company will not will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including the rapidly evolving uncertainties associated with the COVID-19 pandemic and its potential negative effects on the economy, our employees and customers, and our financial performance. . For more details on other factors that could affect expectations, see the risk factors and other caveats included in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2019 and other documents filed with the SEC.

In addition to factors previously disclosed in reports filed by the Company with the SEC, additional risks and uncertainties may include, but are not limited to: (1) the risk that cost savings and revenue synergies resulting from the proposed merger are not completed or take longer than expected to be completed, (2) the disruption of the proposed merger of customer, supplier, employee or other business partner relationships, (3) the occurrence of any event, change or other circumstance which could result in termination of the merger agreement, (4) failure to obtain the necessary approval from the shareholders of Fincastle and the Company, (5) the possibility that the costs, fees, expenses and charges relating to the proposed merger are higher than expected, (6) the Company’s ability to obtain the required government approvals for the proposed merger, (7) the reputational risk and the reaction of customers, suppliers, e employees or other business partners of each of the parties. partners in the proposed merger, (8) non-compliance with the closing conditions of the merger agreement, or any unexpected delay in the closing of the proposed merger, (9) risks related to the integration of Fincastle’s activities in the company’s activities, including the risk that such integration will be significantly delayed or be more costly or difficult than expected, (10) the risk of potential litigation or regulatory actions related to the proposed merger, (11 ) the risk of expansion into new geographies or product markets, (12) the dilution caused by the issuance by the Company of additional shares of its ordinary shares as part of the proposed merger, and (13) the general competitive, economic, political and market conditions. Additional factors which could cause results to differ materially from those described in forward-looking statements may be found in Company reports (such as annual report on Form 10-K, quarterly reports on Form 10- Q and current reports on Form 8 -K) filed with the SEC and available on the SEC’s website (http://www.sec.gov). All subsequent written and oral forward-looking statements regarding the Company, Fincastle or any person acting on their behalf are expressly qualified in their entirety by the above cautionary statements. Neither the Company nor Fincastle undertakes to update any forward-looking statements to reflect circumstances or events that occur after the date on which the forward-looking statements are made.

CONTACTS



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Apple Card: What’s Useful and What’s Hype? https://feminaust.org/apple-card-whats-useful-and-whats-hype/ https://feminaust.org/apple-card-whats-useful-and-whats-hype/#respond Fri, 19 Mar 2021 08:44:13 +0000 https://feminaust.org/apple-card-whats-useful-and-whats-hype/ UPDATE June 15, 2020: This article was originally published on August 30, 2019 and has been updated to reflect the latest features on the map. Apple praises its Recently launched Apple Card like another in a long line of innovation, claiming that it “completely rethinks everything about the credit card”. But that’s a bit of […]]]>


UPDATE June 15, 2020: This article was originally published on August 30, 2019 and has been updated to reflect the latest features on the map.

Apple praises its Recently launched Apple Card like another in a long line of innovation, claiming that it “completely rethinks everything about the credit card”. But that’s a bit of a stretch.

While the Apple Card has some compelling attributes, perhaps the most innovative thing about it is that it combines several hard-to-find – but not unprecedented – features in one package.

“We have to keep in mind that this is just a credit card,” says Brian Riley, director of credit counseling for Mercator Advisory Group, a payment and credit advisory group. the bank, by e-mail. Noting that the Apple card will compete with some well-established issuers, including Chase and American Express, he says it will be “a case study in loyalty. Will the masses follow Apple?”

If you’re tempted to take the Apple Card plunge, here’s how to separate useful features from the hype.

No, the Apple Card does not “completely rethink everything”

The Apple Card doesn’t innovate until it consolidates it.

Unlike many others cash back credit cards, this one is clearly designed for mobile users. In fact, the only way to apply for the Apple card is through an eligible iPhone, which is unique (although this is also a potential hurdle).

“As with all Apple products, there is indeed an elegance,” says Riley.

But virtually any credit card can be added to a mobile wallet and used in the same way.

The Apple Card encourages the use of a mobile wallet, earning the following rewards:

• Apple Pay purchases made directly from Apple (including Apple stores, the App Store, and for Apple services).

• Uber and Uber Eats purchases via Apple Pay.

• Walgreens and Duane Reade purchases via Apple Pay.

• T-Mobile in-store purchases via Apple Pay.

• Nike purchases via Apple Pay (in US stores, on Nike.com and on Nike apps).

• Purchases at Exxon and Mobil gas stations via Apple Pay. This includes fuel, car washes, and convenience store purchases.

• Panera purchases via Apple Pay.

All other purchases made through Apple Pay.

All purchases made with the physical Apple Card.

What about that “laser-engraved titanium” physical card, which you have to request separately? Apple went to great hilarious efforts to explain How to take care of it, but the best way to take care of it – and yourself – is simply not to carry it at all. Its reward rate is just not competitive today.

When it comes to fees, the Apple Card trumpets its absence – but you can find a number of refund cards that also don’t charge an annual fee or any over-the-limit costs, that have been missing for years. More interesting is the absence of foreign transaction fees or late fees on the Apple card. It’s harder (but not impossible) to find refund cards that don’t charge a fee for overseas purchases, and while other cards already waive late fees, these products usually don’t earn rewards.

So what’s new with the Apple card?

When it debuted in August 2019, the Apple Card was redesigned, meaning it opted out, offering a sign-up bonus, an introductory period of 0% APR or the possibility of ‘add authorized users, all of which are common characteristics of its competitors.

But the Apple Card brings some really fresh offers:

  • Check your credit limit and APR before committing to the card. If the card is approved, you can decide – based on the credit limit and APR you are offered – whether you want to accept the offer. Apple says you will have up to 30 days to make your decision and that “your credit rating is not affected until after you accept it.” Few other credit cards show you this information before draw your credit.

  • Access customer support by SMS 24/7. 24-hour customer service isn’t new, but having a conversation with the sender via SMS is new and great if you hate phone calls and long wait times. (You can also call through the iPhone Wallet app.)

  • Use Apple Maps to clarify your purchases. You can tap the individual charges you make with the map to locate that merchant’s location on your iPhone’s Apple Maps app.

And what is just rare or interesting?

The Apple Card also offers some features which, while not unheard of, are still nice to have and are not a given:

  • Instant access to your card after approval. Start shopping immediately, without having to wait days to receive a physical card in the mail. Instant access to credit is rare, but not new.

  • Ability to accumulate (and spend) rewards in real time. There is no minimum trade-in amount and no waiting until the end of the billing cycle to access your reserve. These features are welcome, but available elsewhere.

  • A billing cycle that is always at the end of the calendar month. Apple calls this a “common sense” payment schedule, and it can certainly make it easier to keep track of when your bill is due. But other issuers already allow you to set your own billing date.

  • Access to financial tools to help you break down and categorize your expenses. Useful, but available through many other credit cards and third-party sites, NerdWallet included.

  • Instant card replacement: If you think your Apple Card may have been compromised, you can generate a new card number and invalidate the old one, all in the Wallet app. This is nifty and can save time, but other cards offer a free overnight card replacement and / or the ability to “freeze” or “lock” a misplaced card.

The Apple Card claims to take security a step further, instituting additional privacy measures so Apple can’t tell where you shopped, what you bought, or how much you spent. (Apple notes that Goldman Sachs, on the other hand, has access to your data.)

Are its interest rates “among the lowest in the industry”?

When the Apple Card debuted in August 2019, Apple noted that it would have a variable APR of 12.99% to 23.99% depending on creditworthiness.

The bottom of this range is better than average – and better than many other cash back credit cards. But only those with excellent credit are likely to qualify for this rate.

It’s worth noting that the Apple Card app has some terrific visual incentives to help you understand how much credit card interest you can potentially earn if you don’t pay your bill in full each month. The “Choose Amount” dial turns from red to green as it displays an estimate of the interest you will pay, based on the payment amount you choose.

There is also a longer than average time Grace period which lasts until the end of that month’s billing cycle, rather than the typical 21-day window, giving you a little extra time to pay your bill before you start earning interest on your balance.

“Created by Apple, not by a bank”?

Apple obviously played an important role in the development of this product. But the card is still issued by Goldman Sachs, an investment bank. And it’s Goldman Sachs that will review your application, along with your credit scores, your credit report, and the income you declare on your application to decide if you will be approved for the card.

This type of subscription is standard for the vast majority of credit cards on the market. A handful of so called “alternative credit cards“can assess creditworthiness beyond credit scores and history, but the Apple Card is not one of them.



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Sundial announces strategic investment https://feminaust.org/sundial-announces-strategic-investment/ https://feminaust.org/sundial-announces-strategic-investment/#respond Fri, 19 Mar 2021 08:44:11 +0000 https://feminaust.org/sundial-announces-strategic-investment/ CALGARY, AB, Dec. 30 2020 / PRNewswire / – Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) today announced that it has completed the acquisition of a special purpose vehicle (the “Investment”). Consideration for the investment, totaling $ 58.9 million in cash, was financed by Sundial’s available cash reserves of $ 110 million immediately […]]]>


CALGARY, AB, Dec. 30 2020 / PRNewswire / – Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) today announced that it has completed the acquisition of a special purpose vehicle (the “Investment”). Consideration for the investment, totaling $ 58.9 million in cash, was financed by Sundial’s available cash reserves of $ 110 million immediately before the closing of the investment. All amounts are in Canadian dollars, unless otherwise indicated.

The special purpose vehicle has $ 58.9 million of the total principal amount of senior secured indebtedness (the “Principal Loan”) of Zenabis Investments Ltd. (“Zenabis”), a subsidiary of Zenabis Global Inc. (the “Parent”). The Senior Loan bears interest at the rate of 14% per annum and has a maturity date of March 31, 2025, with principal repayments in certain circumstances over time, including $ 7.0 million payable on the 31st of December, 2020. The Senior Loan is guaranteed by the assets of Zenabis and its subsidiaries and is guaranteed by the Parent Company. Overall, assets represent all of Zenabis’s cannabis-related assets.

In accordance with the terms of the Senior Loan, Zenabis will also pay Sundial a royalty (the “Royalty”) based on quarterly sales revenues from its medical, recreational and wholesale cannabis lines, net of value added or sales taxes. (“Net cannabis income”, which will be payable each fiscal quarter as follows:

(I)

3.5% of net cannabis income when net cannabis income does not exceed $ 25
million;

(ii)

3.0% of net cannabis revenues when net cannabis revenues exceed $ 25 million, but
not $ 30 million;

(iii)

2.5% of net cannabis income when net cannabis income exceeds $ 30 million, but
not $ 37.5 million; and

(iv)

2.0% of net cannabis income when net cannabis income exceeds $ 37.5 million.

The royalty is payable for 32 fiscal quarters and is payable for the quarters in which Zenabis achieves certain net cannabis revenue targets and maintains certain debt service ratios. If these targets are not met, the royalty is not payable for the applicable fiscal quarter, but the term of the royalty is extended for another fiscal quarter.

Sundial has a current unallocated cash balance of approximately $ 51 million after the investment and approximately 919 million common shares outstanding.

ABOUT SUNDIAL GROWERS INC.

Sundial is a public company whose common shares trade on the Nasdaq under the symbol “SNDL”.

Sundial is a licensed producer who manufactures cannabis using state-of-the-art indoor facilities. Our ‘large-scale artisanal’ modular cultivation approach, award-winning genetics and experienced master growers set us apart.

Our Canadian operations grow cannabis in small batches using an individualized “room” approach, with a total area of ​​448,000 square feet.

Sundial’s brand portfolio includes Top sheet, Cannabis Sundial, Dwarf palm and Meadows. Our experience with consumer packaged goods allows us not only to grow quality cannabis, but also to create exceptional experiences for consumers and customers.

We are proudly Albertans, headquartered in Calgary, AB, with operations in Olds, AB, and Rocky View County, AB.

Caution regarding forward-looking information

This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”), including, but not limited to, statements regarding the Company’s cash balance, debt position, outstanding shares, forecasts, revenue streams and statements regarding expected principal, interest and royalty payments from Zenabis and statements regarding future strategic initiatives of the Company. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “plan”, “intend”, “believe”, “anticipate”, “estimate”, “Likely”, “prospect”, “foresee”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” happen. These statements are only predictions. Various assumptions have been used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to various risks and uncertainties and other factors that could cause actual events or results to differ. substantially from those projected in the forward forecast. staring statements. Please refer to the risk factors identified in the documents filed by the Company with the United States Securities and Exchange Commission, including those identified in the Company’s Annual Report on Form 20-F, for a discussion of the risks. material that could cause actual results to differ materially from future results. – seeking information. The Company has no obligation and expressly disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. .

SOURCE Sundial Growers Inc.

Related links

www.sundialgrowers.com



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Financement agricole plans a distribution of patronage before the season https://feminaust.org/financement-agricole-plans-a-distribution-of-patronage-before-the-season/ https://feminaust.org/financement-agricole-plans-a-distribution-of-patronage-before-the-season/#respond Fri, 19 Mar 2021 08:44:11 +0000 https://feminaust.org/financement-agricole-plans-a-distribution-of-patronage-before-the-season/ March 15, 2021Update: March 15, 2021 at 10:24 am MAHOMET – In response to last year’s unprecedented conditions facing agriculture and the economy in general, the board of directors of Farm Credit Illinois (FCI) said that a one-time distribution of $ 10 million Preseason sponsorship dollars would be distributed this week to members of the […]]]>


MAHOMET – In response to last year’s unprecedented conditions facing agriculture and the economy in general, the board of directors of Farm Credit Illinois (FCI) said that a one-time distribution of $ 10 million Preseason sponsorship dollars would be distributed this week to members of the cooperative’s farming family.

In addition, $ 30 million will be paid to members the week of June 14, as a traditional annual cash sponsorship. FCI will also distribute $ 2.7 million in sponsorship separately to eligible loans from its agri-food loan portfolio of the Capital Markets Group, bringing the cooperative’s total sponsorship to $ 42.7 million. This represents 48.5% of the Association’s 2020 net profits paid to borrowing members in 2021.

“This year’s special preseason patronage recognizes the unusual circumstances and challenges members faced in 2020,” said Eric Mosbey, Chairman of the FCI Board of Directors. “Cash sponsorship is a tangible demonstration of the value of cooperative membership.


“As farmers prepare for a new crop year, FCI is celebrating cooperative participation by offering two separate sponsorship payments in 2021,” said Aaron Johnson, President and CEO of FCI. “Even in times of economic volatility, FCI is able to fulfill its mission of helping farm families succeed through cash sponsorship. “



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Beckhams risks new wrath with money amid ‘£ 10million bank loan’ allegation https://feminaust.org/beckhams-risks-new-wrath-with-money-amid-10million-bank-loan-allegation/ https://feminaust.org/beckhams-risks-new-wrath-with-money-amid-10million-bank-loan-allegation/#respond Fri, 19 Mar 2021 08:44:10 +0000 https://feminaust.org/beckhams-risks-new-wrath-with-money-amid-10million-bank-loan-allegation/ The Beckhams risked raising embarrassing questions about why they would need to put staff on leave, as reports emerged of a multi-million pound bank loan the star couple took to buy property . The couple have drawn huge criticism in recent weeks since their reveal Victoria, 46 planned to use taxpayer dollars to pay dozens […]]]>


The Beckhams risked raising embarrassing questions about why they would need to put staff on leave, as reports emerged of a multi-million pound bank loan the star couple took to buy property .

The couple have drawn huge criticism in recent weeks since their reveal Victoria, 46 planned to use taxpayer dollars to pay dozens of his employees in his failing fashion empire instead of dipping into his £ 335million reading wealth to pay their wages.

Following a harsh backlash, Vicky was forced to make a humiliating U-turn on her leave plans, but now new details of a past financial decision have risked sparking new anger against the designer-turned-Spice Girl. and his David, 45, husband.

According to The Sun on Sunday, Vicky and Dave took out a £ 10million bank loan to buy property in America last year, despite having the means to buy the £ 18million property.



The Beckhams are said to have taken a £ 10million loan to buy a luxury apartment

The decision to take out a bank loan to buy the Miami penthouse raised embarrassing questions for the couple.

A source told The Sun: “Considering how rich the mega-rich couple are, it’s a bit rich to have taken out a loan.

“If they hadn’t borrowed the money to buy another notebook, they might not have had to put staff on leave in the first place.”



Victoria has been firmly in the wrong books in the eyes of many over the past few weeks

The source scathingly added: “If Victoria could borrow £ 10million to buy a Miami bolt hole, there are probably a few people who think she could have borrowed the money in the first place to pay its staff, rather than trying to rely on the taxpayer. “

The alleged loan was reportedly requested at the end of last year – while the end of 2019 was a sore point for the couple as they recorded their very first joint financial loss as Victoria’s fashion empire struggled and David’s star power showed signs of waning.

The property in question would include five bedrooms, a pool, spa, hair salon, juice bar, gym and helicopter landing pad.



The Beckhams saw public opinion turn against them

Victoria and David’s potential new misstep comes after the couple came under fire for their attempt to solicit government funds to help support Victoria’s fashion brand.

Piers Morgan led the reaction against Vicky, Calling her a “pampered prima donna” and said her fashion empire was a “failed vanity project”.

Mirror Online has contacted Victoria and David for comment.



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After Acquisition of Bayer Animal Health, Elanco Set to See Profit Growth in 2021 https://feminaust.org/after-acquisition-of-bayer-animal-health-elanco-set-to-see-profit-growth-in-2021/ https://feminaust.org/after-acquisition-of-bayer-animal-health-elanco-set-to-see-profit-growth-in-2021/#respond Fri, 19 Mar 2021 08:44:10 +0000 https://feminaust.org/after-acquisition-of-bayer-animal-health-elanco-set-to-see-profit-growth-in-2021/ In the animal health industry, one company in particular is acting like a wolf on the prowl. Elanco Animal Health (NYSE: ELAN) is the second largest animal health company in the world and specializes in pharmaceuticals. The company has separated from the pharmaceutical giant Eli lilly in 2018 and has undergone a dramatic transformation since […]]]>


In the animal health industry, one company in particular is acting like a wolf on the prowl. Elanco Animal Health (NYSE: ELAN) is the second largest animal health company in the world and specializes in pharmaceuticals. The company has separated from the pharmaceutical giant Eli lilly in 2018 and has undergone a dramatic transformation since leaving its parent company.

One of the most important changes Elanco announced its acquisition of Bayer Animal Health in 2019. The acquisition was finalized in August 2020 and catapulted Elanco to the forefront of the animal health industry. Now that the merger is complete, what can investors expect from the combined company in 2021?

Image source: Getty Images.

$ 7 billion acquisition in pet health care

The merger with Bayer was transformational but came at a high price. Elanco paid $ 5.2 billion in cash and issued 72.9 million shares to Bayer. This makes it one of the most expensive offerings in the history of the animal health industry.

Elanco pursued the Bayer merger for two main reasons. The first is that historically Elanco has focused on supplying the farmed animal health market, but wanted to expand its reach into the rapidly growing companion animal health market. Bayer Animal Health generated the majority of its revenue in the companion animal market and brought Elanco a drug pipeline and notable industry blockbusters including Seresto and Claro.

The deal is also expected to produce significant cost synergies that will improve the profit growth rate of the combined company. The overall figure is $ 300 million in synergies from efficient manufacturing and production as well as a more streamlined research and development and sales force organization.

The combined company has already started its efforts to realize cost synergies and expand its global presence. 2021 will be the first full year of operation for the new Elanco.

Margin expansion to come

One of Elanco’s main messages to investors is that the company has a clear path ahead when it comes to growth and profitability. However, there are still a few hurdles along the way. Elanco is still working on the complete transition of Eli Lilly’s management systems. Now, the company must also deal with the realization of the cost synergies resulting from the acquisition of Bayer. Despite this, Elanco is confident that in the future the performance of the company will improve significantly.

Over the next few years, Elanco plans to reach 60% Gross margin of 51.8% gross margin in 2020. This will be due to a larger scale thanks to increased unit volumes and a restructuring of the R&D, sales force and manufacturing of the company.

ELAN EBITDA Margin (TTM) chart
Data by YCharts.

These margin improvement initiatives are also expected to increase Elanco’s EBITDA margin. EBITDA represents profit before taxes on interest, depreciation and amortization and is a measure of earnings. The company has a long-term target of 31% and expects EBITDA to grow at a double-digit rate in the coming years. This is a significant improvement compared to its current level but above all still significantly lower than its main competitor, Zoetis.

In 2021, Elanco is targeting adjusted EBITDA of just over $ 1 billion, or a margin of 22%. That’s almost double the $ 528 million in adjusted EBITDA that Elanco reported in 2020. If Elanco can meet those earnings growth targets, shareholders would likely rejoice.

Is Elanco a buy?

Elanco has recently gained the attention of investors and its the share is trading at its highest level for over a year. Clearly, investors are excited about the prospects for the combined company and the potential for profits.

2021 will be a pivotal year for Elanco as it will be the first full year of operation as a combined company with Bayer. The company has set ambitious profit targets and investors will be attentive to whether or not the company can meet its stated targets.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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Congress should expand PPP loans https://feminaust.org/congress-should-expand-ppp-loans/ https://feminaust.org/congress-should-expand-ppp-loans/#respond Fri, 19 Mar 2021 08:44:09 +0000 https://feminaust.org/congress-should-expand-ppp-loans/ Photography: Shutterstock Access to $ 93 billion in Paycheck Protection Program (PPP) funds would be extended by two months for restaurants and other small businesses under a bill that Senate Majority Leader, Chuck Schumer, is committed to “adopt as soon as possible”. Without the extension, the PPP will officially expire on March 31, with the […]]]>


Photography: Shutterstock

Access to $ 93 billion in Paycheck Protection Program (PPP) funds would be extended by two months for restaurants and other small businesses under a bill that Senate Majority Leader, Chuck Schumer, is committed to “adopt as soon as possible”.

Without the extension, the PPP will officially expire on March 31, with the $ 93 billion remaining undistributed.

The House of Representatives voted 415 to 3 on Tuesday to extend the program, which has been a lifeline for small businesses hoping to survive the economic shutdown caused by the COVID pandemic. Voting was exceptionally bipartisan due to the popularity of the PPP and the lack of need to appropriate more funds. With excess liquidity in hand, the PPP could continue to operate without affecting the federal deficit.

The PPP jackpot was boosted by $ 5 billion last week when President Biden enacted the US bailout. The measure recognized the importance of the PPP in helping small businesses survive and appropriated the additional financing.

A recent poll by Alignable, a reference service for small businesses, found that 78% of small businesses are in favor of extending the PPP until May 30.

The extension bill is expected to be passed by the Senate. He already has bilateral co-sponsorship, having been presented by Susan Collins, R-Vt., And Jeanne Shaheen, DN.H. A vote could take place today or tomorrow.



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Cash Flow Basics: Don’t Stress, Plan https://feminaust.org/cash-flow-basics-dont-stress-plan/ https://feminaust.org/cash-flow-basics-dont-stress-plan/#respond Fri, 19 Mar 2021 08:44:09 +0000 https://feminaust.org/cash-flow-basics-dont-stress-plan/ For some farmers, managing cash flow means paying the bills until the checking account is empty, running the credit cards to their limits, and then hoping the mailman delivers a check or two. instead of just more bills. Tight cash flow can be difficult for even the most experienced grower. For a beginning farmer, however, […]]]>


For some farmers, managing cash flow means paying the bills until the checking account is empty, running the credit cards to their limits, and then hoping the mailman delivers a check or two. instead of just more bills.

Tight cash flow can be difficult for even the most experienced grower. For a beginning farmer, however, a cash flow crisis can quickly turn into a disaster. Bills go unpaid, credit cards are depleted, the credit rating begins to drop, and within months the farmer can go out of business.

If managing your farm’s cash flow from the bottom of your pants is stressing you out, cash flow planning and analysis will help ease your anxiety.

Cash flow projection

An annual cash flow projection is a very useful tool for a farming operation. You calculate month by month when cash income will be received and when cash expenses need to be paid. Projecting will help you anticipate months when your cash flow will not meet your needs. Most importantly, you’ll be able to plan ahead to cover cash flow shortages without using credit cards, leaving bills unpaid, and possibly ruining your credit score.



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