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☆ Disney’s Bob Iger and Salesforce’s Marc Benioff are the latest high-profile execs to come under pressure from activist investors
▼ + stars: | 2023-01-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Billionaire activist investors are putting pressure on top CEOs who were previously thought to be untouchable. Leaders of beloved brand names are coming under fire — and Marc Benioff of Salesforce and Disneys' Bob Iger are the two latest execs to feel the heat, as my colleague Matthew Fox writes. That means activist investors, moguls they may be, still face an uphill battle in winning over shareholders and management teams. What's your take on this burgeoning wave of activist investors? US stock futures fall early Tuesday, as investors brace for the next wave of high-profile earnings and despite growing hopes for a mild recession.

☆ Congress created an actual safety net for Americans during the last crisis. Don't expect that to happen again.
▼ + stars: | 2022-12-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

Congress enhanced unemployment benefits and gave parents monthly checks during the first two years of the pandemic. For Maggie Lopez, a single mother in Texas, the checks meant some breathing room for her and her newborn. The enhanced unemployment had a ripple effect, according to Evermore: People were able to stay home safely. In the case of enhanced unemployment, some states decided to end their participation in federal programs early, leaving many workers in dire straits. After Congress failed to renew a reduced version of the child tax credit at the end of 2021, child poverty once again ticked up.

☆ Congress may revisit the expanded child tax credit in the lame duck session. But terms may not be as generous as in 2021
▼ + stars: | 2022-12-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

House and Senate champions and impacted families appear at a Dec. 7 Washington, D.C., event for expanding the child tax credit during the lame duck session. Millions of children were lifted out of poverty in 2021, thanks to a more generous child tax credit that included monthly checks sent out to more families. Now, the lame duck session of Congress offers a last chance this year to renew the expanded child tax credit that lapsed in December 2021. As the end of year approaches, many Democrats on Capitol Hill have raised their voices in support of reinstating the more generous child tax credit. The child tax credit was increased in 2021 from $2,000 per child to up to $3,600 per child under 6 and up to $3,000 for children ages 6 through 17.

☆ There's a good chance your tax refund will be smaller this year
▼ + stars: | 2022-12-06 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

However, many of those have now wound down, and it means smaller tax refunds for some filers. The Child Tax Credit and Earned Income Tax Credit will both be smaller for some taxpayers. Specifically, the enhanced Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC) will revert to their pre-pandemic levels. But after Democrats failed to renew the enhanced credit, eligible parents are set to receive only up to $2,000 for the child tax credit. Now, many of those credits are winding down, although some progressives are mounting efforts to try and beef up the Child Tax Credit alongside any tax breaks for big corporations.

☆ UniCredit to assess CEO pay rise ahead of general meeting
▼ + stars: | 2022-12-03 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

"The board examined Orcel's pay package in light of the important performance reached in 2021 under his leadership," the report said. "Orcel separately indicated ... he prefers to keep his fixed pay unchanged and have his variable pay closely linked to performance goals," it added. "The board agrees ... and will reassess Orcel's pay ahead of the 2023 general shareholder meeting in light of results and progress made in 2021 and 2022," it concluded. Annual pay of up to 7.5 million euros makes Orcel one of Europe's best paid bank executives, analysts say. The Financial Times first reported UniCredit sought a pay hike for Orcel citing people familiar with the matter.

☆ UniCredit to reassess CEO pay ahead of general meeting
▼ + stars: | 2022-12-03 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

MILAN, Dec 3 (Reuters) - UniCredit (CRDI.MI) will reassess the remuneration of CEO Andrea Orcel ahead of its 2023 general meeting to see if the results achieved by Italy's second-biggest bank in 2021-2022 warrant an increase, a document on its website showed. "The board examined Orcel's pay package in light of the important performance reached in 2021 under his leadership," the report said. "Orcel separately indicated ... he prefers to keep his fixed pay unchanged and have his variable pay closely linked to performance goals," it added. "The board agrees ... and will reassess Orcel's pay ahead of the 2023 general shareholder meeting in light of results and progress made in 2021 and 2022," it concluded. The Financial Times first reported UniCredit sought a pay hike for Orcel citing people familiar with the matter.

☆ Japan's Mitsubishi UFJ to buy two Asia units of Home Credit for $596 mln
▼ + stars: | 2022-11-24 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

TOKYO, Nov 24 (Reuters) - Japan's Mitsubishi UFJ Financial Group Inc (8306.T) said on Thursday it would buy the Philippines and Indonesian units of Dutch consumer finance company Home Credit Group BV for about 596 million euros ($621 million). The acquisitions will be made through Japanese unit MUFG Bank, Thai unit Bank of Ayudhya PCL (BAY) (BAY.BK), and Indonesian unit Adira Dinamika Multi Finance (ADMF), with the deal to be completed within 2023, the company said. Home Credit (HC) is controlled by the Czech Republic's biggest investment group, PPF, which was founded by late billionaire Petr Kellner. read moreAfter the completion of the deal, Bank of Ayudhya will hold 75% of the shares of HC Philippines and 75% of the shares of HC Indonesia. MUFG Bank will hold 25% of HC Philippines, and ADMF will hold 10% of HC Indonesia shares.

The European Central Bank (ECB), which supervises euro zone banks, believes some lenders have overly optimistic assumptions about the economy, based on models that cannot fully capture the damage from the current bout of inflation, the sources say. Source: S&P Global-EBAMorgan Stanley estimates euro zone banks will pay out 40 billion euros ($40 billion) in 2022 dividends plus an additional 60 billion euros in share buybacks between this year and next - an outsized return by recent standards. "It's not a good idea to pay out capital during a recession," Intesa's Chief Executive Carlo Messina told analysts last week. "With the economy entering recession, the time of massive bank payouts is over," Marco Troiano, a managing director at Scope Ratings, said. "Running down capital cushions would weaken banks."

☆ ECB, UniCredit clash over capital plans, Russia presence, FT says
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 6 (Reuters) - The European Central Bank (ECB) has clashed with UniCredit (CRDI.MI) over the Italian lender's plans to return cash to shareholders and its failure to leave Russia, the Financial Times reported on Sunday. The report further said that, there is also tension over UniCredit's failure to cut ties with Russia, as the ECB views the bank's Russian presence as an unwelcome source of risk and has been pushing it to exit the country. UniCredit last month said it expected a 400 million euro contribution from the ECB's longer-term funds this year under the central bank's new terms, while it no longer saw any potential benefits next year. The ECB and UniCredit did not immediately respond to Reuters' request for comment. ($1 = 1.0094 euros)Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ 10 best credit cards for bad credit of November 2022: Secured and unsecured cards, including some that earn cash back or flexible points
▼ + stars: | 2022-10-31 | by ( Holly Johnson | Jasmin Baron | Freelance Writer | ) www.businessinsider.com time to read: +24 min

This credit card comes with no annual fee and no hidden fees, yet it's a Visa credit card that can be used anywhere Visa is accepted worldwide. How to choose the right credit card if you have bad creditBefore you pick the best credit card for your situation, you'll want to decide if you want a secured or unsecured credit card. A secured credit card is a type of credit card that requires a cash deposit as collateral. To avoid paying interest on purchases made with a credit card, you need to pay your credit card statement balance in full each month. American Express doesn't currently offer a secured credit card as most Amex cards require you to have a good to excellent credit score.

☆ UniCredit ups 2022 profit goal after Q3 earnings beat
▼ + stars: | 2022-10-26 | by ( Valentina Za | ) www.reuters.com time to read: +2 min

MILAN, Oct 26 (Reuters) - Italy's No.2 bank UniCredit (CRDI.MI) on Wednesday raised its 2022 profit goal above 4.8 billion euros ($4.8 billion), helped by higher interest rates and lower loan loss provisions that also drove quarterly earnings above forecasts. UniCredit posted a profit for July-September of 1.71 billion euros, well above analysts' consensus forecast of 1.00 billion euros provided by the bank. UniCredit had already improved its 2022 guidance in July, indicating a net profit target of around 4 billion euros. Quarterly earnings were also boosted by much higher than expected trading income, which UniCredit said had been helped by companies' demand for hedging products. The erosion reflects a second share buyback UniCredit is carrying out as it hits a goal of returning 3.75 billion euros of last year's earnings to shareholders.

☆ Economist discusses UK economy and fiscal measures
▼ + stars: | 2022-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeremy Hunt's announcement on restoring macro stability doesn't change the growth outlook: EconomistDaniel Vernazza, UniCredit's chief international economist, discusses the country's recent economic turmoil, and how the reversal of Prime Minister Liz Truss' "mini-budget" is likely to affect its outlook.

☆ The 'bummer' of the $7,500 electric vehicle tax credit: Its full value may be hard to get
▼ + stars: | 2022-10-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

But it may be tough for consumers to get the full value of the tax credit — at least initially. The tax credit 'bummer': It's nonrefundableThe legislation, called the Inflation Reduction Act, made the tax credit "nonrefundable." This person wouldn't get the full $7,500 tax credit — they'd be able to claim $5,000 and cut their tax bill to zero. More from Personal Finance:Missed a tax credit from last year? It's unclear which electric vehicles will meet these standards and qualify for a tax credit next year.

☆ Congress is still considering changes to the retirement system, including catch-up contributions
▼ + stars: | 2022-10-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +8 min

Tom Brenner | ReutersThere's still a decent chance that changes to the U.S. retirement system will be enacted before the end of the year. "There's still tremendous bipartisan interest in doing another retirement security bill," said Paul Richman, chief government and political affairs officer for the Insured Retirement Institute. Upping the catch-up contribution anteNosystem Images | E+ | Getty ImagesCurrently, retirement savers age 50 or older can make so-called catch-up contributions to their retirement savings. The House bill would expand the 401(k) catch-up to $10,000 for individuals who are age 62, 63 or 64. The Senate proposal differs by allowing people from age 60 through age 63 make the extra $10,000 catch-up contribution.

☆ 10 best credit cards for bad credit of September 2022: Secured and unsecured cards, including some that earn cash back or flexible points
▼ + stars: | 2022-09-27 | by ( Holly Johnson | Jasmin Baron | Freelance Writer | ) www.businessinsider.com time to read: +56 min

Best secured card with flat cash-back earning: Capital One Quicksilver Secured CardThe Capital One Quicksilver Secured Cash Rewards Credit Card is a new secured credit card that doesn't charge an annual fee, and it earns 1.5% cash back on all other purchases with no limits. This credit card comes with no annual fee and no hidden fees, yet it's a Visa credit card that can be used anywhere Visa is accepted worldwide. How to choose the right credit card if you have bad creditBefore you pick the best credit card for your situation, you'll want to decide if you want a secured or unsecured credit card. A secured credit card is a type of credit card that requires a cash deposit as collateral. To avoid paying interest on purchases made with a credit card, you need to pay your credit card statement balance in full each month.

☆ UniCredit focused on "internal delivery", open to M&A in all its markets
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File PhotoROME, Sept 21 (Reuters) - UniCredit (CRDI.MI) is focused on delivering targets set under its business plan, though it remains ready to seize M&A opportunities in all the markets where it operates, CEO Andrea Orcel said on Wednesday. read moreOrcel said he had not deviated from his standard message that M&A can provide a way to accelerate growth in all the markets where UniCredit is present if opportunities arise "at the right conditions." "We're a lot more focused on internal delivery," he said. "When I took this job, UniCredit's stance was 'no M&A' while I said that at the right conditions M&A can be an accelerator. This, together with the fact that I've done my fair share of M&A deals in the past, made everyone think we would do deals, that a financial tsunami was on the cards."

The CareCredit card from Synchrony Bank offers financing for a wide variety of health-related expenses, from beauty treatments to medical procedures to pet care. It offers financing for health, wellness, and beauty-related treatments and other procedures that aren't covered by your insurance. While the CareCredit card is primarily for the main cardholder, it's possible for other family members to use the card for their healthcare needs as well. Long-term financing: reduced interestWith this financing option, you're also given a fixed minimum monthly payment based on your balance and the duration of time you choose. CareCredit offers a 60-month term option, but that is only for purchases of $2,500 or more.

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