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☆ A short seller with a 95% win ratio shares 5 stocks he recently traded and why his strategy of finding cash-strapped companies to bet against is working better than ever
▼ + stars: | 2023-11-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

That year, he had also taken up an interest in stock trading. Increased accuracy on VWAPThe volume-weighted average price (VWAP) is a chart line that tracks the average price traders paid for a stock. If a stock's price is too far above the VWAP, it signals that it's overbought, and vice versa. But as more short sellers chase the stock's price down, it can get overcrowded, he noted. Pop Culture Group (CPOP) stock's trading was halted on October 31 after the stock rallied quickly.

Persons: David Capablanca, Capablanca, TraderSync, David Olivares, Olivares, He's Organizations: University of California, pharma, Capablanca, Interactive, Traders, Reviva Pharmaceuticals Holdings, shorting, InMed Pharmaceuticals, Culture Locations: Los Angeles

☆ Brazil's securities watchdog agrees to 'plea bargain' on Americanas' probe
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

People walk in front of a Lojas Americanas store in Brasilia, Brazil January 12, 2023. REUTERS/Ueslei Marcelino/File Photo Acquire Licensing RightsCompanies Americanas SA - Em Recuperacao Judicial FollowSept 29 (Reuters) - Brazil's securities watchdog CVM said on Friday it has approved a mechanism similar to a plea bargain for cases related to bankrupt Brazilian retailer Americanas (AMER3.SA), in the midst of a billion-dollar financial fraud probe. The content obtained through the agreement would also facilitate and speed up investigations, the CVM added. There are at least 23 procedures against the Brazilian retailer, according to CVM, including two sanctioning proceedings, when accusations were made. This is the first time CVM has used such a mechanism to investigate a company.

Persons: Ueslei Marcelino, CVM, Carolina Pulice, Michael Perry Organizations: REUTERS, Americanas, Thomson Locations: Brasilia, Brazil

☆ Brazil's central bank prepares public consultation on cryptocurrency regulation
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, July 18 (Reuters) - Brazil's central bank announced on Tuesday its plans to launch a public consultation regarding the regulation of cryptocurrencies in the second half of this year. Specific measures will be taken to limit the risks associated with decentralized governance systems and to prevent investors from being exposed to these assets without appropriate levels of disclosure, said the central bank. The government of President Luiz Inacio Lula da Silva delegated the authority to regulate cryptocurrency services to the independent central bank from June 20. Despite this status, the central bank stressed the need for coordinated action among various regulators, such as the revenue service and the country's Securities and Exchange Commission (CVM). Reporting by Marcela Ayres; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Marcela Ayres, Steven Grattan Organizations: country's Securities, Exchange Commission, Thomson Locations: BRASILIA

☆ Brazil watchdog offers plea deals to Americanas employees in fraud probe
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 20 (Reuters) - The president of Brazil's securities watchdog CVM on Tuesday urged employees from Americanas (AMER3.SA) with information about the retailer's alleged multi-billion-dollar fraud to give testimony in exchange for potential plea deals. Americanas last week admitted to a large-scale accounting fraud with current top managers slamming former executive, banks and auditors for their alleged involvement in "fraudulently altered" financial statements. Americanas filed for bankruptcy protection in January after uncovering an over $4 billion accounting scandal. The report issued on Tuesday accused ex-CEO Miguel Gutierrez and half a dozen other former executives and employees of committing fraud. Reporting by Patricia Vilas Boas; Writing by Carolina Pulice; Editing by Sarah Morland and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: CVM, Joao Pedro Barroso, Nascimento, Americanas, Miguel Gutierrez, Patricia Vilas Boas, Carolina Pulice, Sarah Morland, Aurora Ellis Organizations: SAO PAULO, Federal, Thomson Locations: Americanas

☆ Ex-CEOs at Brazil's Americanas did not make proper accounting disclosures - regulator
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 5 (Reuters) - Brazil's securities regulator has accused two former CEOs of retailer Americanas of failing to comply with information disclosure requirements following an investigation into the firm's accounting inconsistencies, the agency said. According to a document from securities regulator CVM made public on Monday, the two ex-CEOs, Sergio Rial and Joao Guerra, also failed to meet other obligations on informing investors. Americanas entered bankruptcy protection in January after uncovering around $4 billion in accounting inconsistencies. Americanas said in a statement that it was monitoring the CVM investigation and hoped any irregularities would be "duly clarified". The company did not mention the accusations against Guerra in its statement and he did not respond to a query via LinkedIn.

Persons: CVM, Sergio Rial, Joao Guerra, Rial, Guerra, Americanas, Andre Romani, Carolina Pulice, Jamie Freed Organizations: SAO PAULO, Thomson

☆ Brazilian securities watchdog launches new probes into Americanas accounting fiasco
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, March 17 (Reuters) - Brazilian securities watchdog CVM said on Friday it has launched two new probes into retailer Americanas SA's (AMER3.SA) accounting scandal and the firm's reorganization process. CVM said it launched an administrative proceeding to analyze "failures to disclose relevant information by (Americanas) regarding proposals for capitalization and the renegotiation of debts with creditors and the assessment of the sale of assets." Americanas entered bankruptcy protection in January shortly after disclosing accounting inconsistencies worth 20 billion reais ($3.78 billion) and overall debt of more than $8 billion. Earlier this month, the retailer said it had offered a capital injection to its creditors of 10 billion reais ($1.93 billion) which would come from top shareholders. The launch of the probes comes a day after Americanas' former CEO Miguel Gutierrez testified before CVM.

☆ Americanas scandal won't affect Brazil banks much even in "extreme scenario" - cenbank
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, March 9 (Reuters) - Brazil's central bank stated on Thursday that the potential impact of the accounting scandal involving retailer Americanas SA on banks would be 'insignificant' even in an extreme scenario. Americanas (AMER3.SA) filed for bankruptcy in January after disclosing "accounting inconsistencies" worth 20 billion reais ($3.84 billion), leading banks to increase their provisioning in their most recent earnings release. The central bank noted that the provisions stem from "a specific event related to a large company" and have already absorbed most of the materialization of the risk. "The central bank estimated the remaining potential impact, plus a contagion scenario over the entire production and supply chain that depends on the company in a relevant way," it said. "In this extreme scenario, the impact on the consolidated financial system is insignificant and there would be no capital default in any financial institution," it added.

☆ Americanas' billionaire shareholders say they were unaware of accounting problems
▼ + stars: | 2023-01-23 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 23 (Reuters) - Americanas SA (AMER3.SA) three largest shareholders, the billionaire founders of 3G Capital, said on Sunday they had not known of $4 billion in accounting 'inconsistencies' at the Brazilian retailer. "We didn't know of and would never allow any accounting manipulation in the company", the statement said. It said Americanas had been audited by PwC and that the retailer's "banks and auditors never reported any problems". Securities industry regulator CVM has also launched probes into Americanas, which has seen its stock lose more than 90% of its value since the news of the accounting problems emerged. 3G Capital itself has no stake in Americanas.

Americanas on Tuesday disclosed that it did not pay interest due on Monday of more than 2 billion reais ($392 million) in local bonds. It made the disclosure in a filing responding to a question by securities regulator CVM, saying that it was allowed not to pay under the injunction. Fitch said that if Americanas formally announces a debt restructuring plan, its ratings will be downgraded to RD or D reflecting a default. Fitch said the retailer, backed by the billionaire founders of 3G Capital, has an unsustainable capital structure with the addition of an estimated 20 billion reais in previously undisclosed liabilities. The company last year paid 516.6 million reais in dividends related to the results in 2021, according to securities filings.

☆ Minority shareholders denounce Brazil's Americanas for 'multi-billion fraud'
▼ + stars: | 2023-01-13 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +3 min

RIO DE JANEIRO/SAO PAULO, Jan 13 (Reuters) - A group representing minority shareholders on Friday filed a complaint with Brazil's securities regulator against Americanas SA (AMER3.SA) after the retailer uncovered "accounting inconsistencies" totaling 20 billion reais ($3.89 billion). The Abradin association said it was denouncing Americanas for what it called a "multi-billion fraud," while also asking regulator CVM to investigate the retailer's auditor, PwC. Shares in Americanas plummeted more than 75% on Thursday, wiping out 8.4 billion reais in market value, after the company's chief executive Sergio Rial resigned, citing the discovery of inconsistencies. It's not easy to hide 20 billion reais," said Eric Barreto, a professor at Sao Paulo's Insper. Americanas has long been controlled by three Brazilian billionaires who founded 3G Capital.

SAO PAULO, Jan 12 (Reuters) - Shares in Brazilian retailer Americanas SA (AMER3.SA) fell more than 75% on Thursday after its chief executive officer resigned citing the discovery of "accounting inconsistencies" totaling 20 billion reais ($3.9 billion). Rial attributed the inconsistencies to differences in accounting for the financial cost of bank loans and debt with suppliers. The outgoing CEO said Americanas would likely need a capital increase, though noted he didn't expect a short-term impact from the inconsistencies on its cash position. Analysts at Santander and JPMorgan, who rated Americanas "Neutral" and "Underweight" respectively, also forecast a major negative reaction to the news. PwC, Americanas' auditor, declined to comment on the accounting inconsistencies referred to by Rial.

☆ AO „Părinți Solidari” contractează 2 experți pentru monitorizarea procesului bugetar și achiziților publice în cadrul Direcțiilor de educație și instituțiilor de învățământ din mun.Chișinău
▼ + stars: | 2021-04-04 | by ( Alte Articole | ) www.civic.md time to read: +5 min

AO „Părinți Solidari” are câteva priorități de dezvoltare: dreptul la o educație echitabilă și non-dicriminatorie; asigurarea accesului la un sistem de învățămînt integru și fără corupție, creșterea transparenței și eficienței utilizării resurselor bugetare în instituțiile educaționale. În acest context, în vederea responsabilizării agenților publici precum și a autorităților locale privind modul de gestionare a banilor publici, AO „Părinți Solidari” cu suportul financiar al AO “Reprezentanța IM Swedish Development Partner”, în cadrul proiectului “Educație transparentă și eficientă”, își propune, să realizeze pe parcursul anilor 2021-2022, monitorizarea procesului bugetar și achizițiilor publice în cadrul a 6 Direcții de educație și 16 instituții de învățământ general din mun.Chișinău. SCOPULPentru a contribui la creșterea transparenței și eficienței utilizării resurselor financiare în domeniul educațional prin monitorizarea procesului bugetar și achizițiilor publice realizat, AO „Părinți Solidari” își propune să angajeze 2 experți independenți, pentru perioada mai - decembrie 2021, care vor realiza monitorizarea procesului bugetar și a achizițiilor publice în 6 instituții de învățământ și 4 Direcții de educație și vor elabora câte 2 rapoarte semestriale în acest sens. PRODUSE2 Rapoarte semestriale de monitorizare a procesului bugetar și achizițiilor publice pentru instituțiile monitorizate. CERINȚE FAȚĂ DE CANDIDAȚI:Experiența confirmată în domeniul specializat de monitorizare a achizițiilor publice de cel puțin 2 ani;Abilități și experiență de monitorizare a achizițiilor publice în domeniul educațional;Bune capacități de analiză și sinteză a informației;Cunoașterea specificului cadrului legislativ – normativ privind achizițiile publice;Cunoașterea limbii române este obligatorie;Colaborarea anterioară cu AO „Părinți Solidari” și experiența de monitorizare a achizițiilor publice în domeniul educațional vor constitui un avantaj.

Persons: Buliga Angela Locations: Chișinău, Republica Moldova, IM Swedish, mun.Chișinău

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