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☆ PayPal taps Intuit exec Alex Chriss as its new CEO
▼ + stars: | 2023-08-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Alex Chriss will become the new CEO of PayPal on September 27. Current CEO Dan Schulman announced in February he would retire at the end of 2023. Chriss will come from Intuit, where he is the EVP of small business and self-employed group. Alex Chriss, the executive vice president of small business and self-employed group at Intuit, has been tapped to lead PayPal, the firm announced Monday. The move comes as current PayPal CEO Dan Schulman announced on February 9 that he will retire at the end of the year.

Persons: Alex Chriss, Dan Schulman, Chriss, Schulman, Elliott Management, Intuit's, Alex, John Donahoe Organizations: PayPal, Intuit, Morning

[1/2] William McGlashan Jr., a former Executive at TPG private equity firm facing charges in a nationwide college admissions cheating scheme, leaves the federal courthouse in Boston, Massachusetts, U.S., March 29, 2019. REUTERS/Brian SnyderCompanies TPG Capital Management LP FollowBOSTON, Aug 14 (Reuters) - A U.S. appeals court on Monday upheld the conviction of a former senior executive at the private equity firm TPG Capital for participating in a vast U.S. college admissions fraud scheme by paying $50,000 to rig his son's college entrance exam results. Carter Phillips, McGlashan's lawyer, said his "deeply disappointed" client was evaluating next steps, adding it was clear that ACT test scores were not "property," a necessary element of the fraud statute. More than 50 people pleaded guilty, including the actors Lori Loughlin and Felicity Huffman, who were among Singer's clients. Reporting by Jonathan Stempel in New York and Nate Raymond in Boston Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: William McGlashan Jr, Brian Snyder, William McGlashan's, McGlashan, Jeffrey Howard, William, Rick, Singer, Carter Phillips, McGlashan's, Lori Loughlin, Felicity Huffman, John Wilson, Gamal Aziz, Wilson, Jonathan Stempel, Nate Raymond, Matthew Lewis Organizations: TPG, REUTERS, Brian Snyder Companies TPG Capital Management, BOSTON, TPG Capital, U.S, Circuit, ACT, Yale, University of Southern, University of Southern California . Singer, Varsity, Thomson Locations: Boston , Massachusetts, U.S, Boston, Georgetown, University of Southern California, California, New York

☆ Top Wall Street analysts pick these dividend stocks for solid returns
▼ + stars: | 2023-08-13 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Nonetheless, Goldman Sachs analyst Neil Mehta recently upgraded Chevron to buy from hold, citing leading capital returns and inflection in free cash flow next year. Regarding capital returns, Mehta noted that Chevron has grown its dividends for more than 25 years. (See Chevron Stock Chart on TipRanks)ConocoPhillipsMehta is also bullish on another dividend-paying energy stock – ConocoPhillips (COP). The analyst projects a capital return yield of 7% in 2024, with room for further upside.

Persons: Michael Wirth, Adam Jeffery, Wall, Goldman Sachs, Neil Mehta, Mehta, TipRanks, ConocoPhillips Mehta, Nitin Kumar, Kumar, Baird, Tristan Gerra, Gerra Organizations: Chevron, CNBC, Chevron Energy, Exxon, ConocoPhillips, Mizuho, Seagate Technology Seagate, Seagate, STX Locations: Russia, Ukraine, Tengiz, China

☆ Exclusive: China's Nanfang to open major copper smelter ahead of expectations
▼ + stars: | 2023-08-10 | by ( Julian Luk | ) www.reuters.com time to read: +3 min

The 400,000 metric ton-per-year smelter, located in Chongzuo city of Guangxi prefecture, will start processing copper concentrates within three months - compared with market expectations for the first half of 2024. "It came as a surprise," one major copper concentrates supplier said, adding that Nanfang had been buying more raw copper materials on the spot market over the past two weeks. Purchasing copper concentrates requires access to liquidity and cash, particularly given relatively high copper prices around $8,400 a metric ton. "It is easier to finance copper projects, credit lines are sufficient to kick-start the second smelting line. Rising domestic copper smelting capacity in China will mean growing demand for copper concentrates and less appetite for buying refined copper from foreign companies.

Persons: Nanfang Nonferrous, Nanfang, COVID, Tongling, Julian Luk, Pratima Desai, Veronica Brown, David Evans Organizations: Reuters, Thomson Locations: China, Chongzuo, Guangxi prefecture

☆ Small businesses turned an Chicago old meatpacking plant into a living experiment in sustainable food, and they are thriving
▼ + stars: | 2023-08-10 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +14 min

InsiderAt The Plant in Chicago, small businesses are tinkering with sustainable food production. It was designed to make food," Edel said. The Plant's white whale is turning food waste into cashThe Plant's large backyard features a greenhouse, left, farms, and an anaerobic digester, right. The innovators believe they can pull antioxidants or vanilla, for example, from the digesting food waste and sell it. "Take the waste from vertical farming or food waste, put it in an anaerobic digester, generate energy — gas, or turn that into electricity.

Persons: Morgan McFall, Johnsen Chicago, Justine, Johnsen, John Edel, Johnsen Edel, Edel, Margot Briane, gestured, Adam Pollack, Shawn Smith, Leonor Quezada, Heffer BBQ, Smith, Quezada, We're, Heffer, Johnsen Jana Kinsman, Edel hasn't, that's, Johnsen Leonard Lerer, Leonard Lerer, Lerer, There's Organizations: Green Tech, Service, CHICAGO, Workers, Whiner, US Department of Agriculture, Sciences Locations: Chicago, Texas, The, Morgan

"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."

Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru

A view of logo of New Development Bank (NDB) at its headquarters in Shanghai, China July 10, 2023. Finance Minister Enoch Godongwana said boosting local currency usage among the NDB's members will also be on the agenda, with the aim of de-risking the impact of foreign exchange fluctuations rather than de-dollarisation. "Most countries that are members of the NDB have been encouraging (it) to provide loans in local currencies," Godongwana said. Reuters Graphics Reuters GraphicsSo far, China is by far the NDB's most successful local currency market. GROWING MEMBERSHIPNevertheless, the NDB, established with $10 billion in paid-in share capital from each BRICS country, wants to expand.

Persons: Aly, Enoch Godongwana, Godongwana, Leslie Maasdorp, Maasdorp, Alexander Ekbom, Chris Humphrey, Humphrey, Rachel Savage, Brenda Goh, Tannur Anders, Vincent Flasseur, Karin Strohecker, Joe Bavier, Alexander Smith Organizations: New Development Bank, REUTERS, Reuters, Finance, Federal Reserve, Reuters Graphics Reuters, U.S ., United Arab, Asian Infrastructure Investment Bank, Reuters Graphics, Overseas Development Institute, Thomson Locations: Shanghai, China, Africa, JOHANNESBURG, SHANGHAI, Russia, South Africa, Brazil, India, Johannesburg, Ukraine, United States, Mumbai, Brasilia, Bangladesh, United Arab Emirates, Egypt, Uruguay, Algeria, Honduras, Zimbabwe, Saudi Arabia, Asia, London

☆ Russia’s Moves to Shore Up Ruble Reflect War’s Toll on Economy
▼ + stars: | 2023-08-10 | by ( Anatoly Kurmanaev | ) www.nytimes.com time to read: +4 min

The Russian currency fell nearly 25 percent since the beginning of the year. “The ruble exchange rate is only an indicator,” said Alexandra Prokopenko, a nonresident scholar at the Carnegie Russia Eurasia Center and a former Russian central bank official. The ruble plummeted to as low as 135 per dollar and the central bank took a series of dramatic measures, including capital controls, to stave off a full-blown meltdown. The most immediate concern for Russian financial policymakers is the possibility of significant inflation. The country’s central bank reacted to that risk late last month with a higher-than-expected rise in interest rates, to 8.5 percent.

Persons: ”, Alexandra Prokopenko, Vladimir V, Putin, Yevgeny V Organizations: Bank of Russia, Carnegie Russia Eurasia Center Locations: Moscow, Russia, Russian, Ukraine, Soviet Union

☆ How $7.75 billion Hopin went from pandemic darling to selling off its flagship business for $50 million and handing back some investor cash
▼ + stars: | 2023-08-10 | by ( Callum Burroughs | Tasmin Lockwood | Michael Cogley | ) www.businessinsider.com time to read: +10 min

Virtual-events startup Hopin was a pandemic winner when it hit a $7.8 billion valuation in 2021. Now its CEO is stepping down, it's selling off parts of its business, and is set to hand back investor cash. But as vaccinations arrived and the travel restrictions eased, demand for Hopin's platform waned. "The pandemic was an extraordinary time to be investing," one London-based tech investor who had not backed Hopin said. Armed with more than $1 billion in investor cash, Boufarhat opted to make acquisitions.

Persons: Johnny Boufarhat, Boufarhat, Andreessen Horowitz, Catalyst, Slack, Hopin, Johnny ", Hopin Boufarhat, outsized, Streamyard, Badri Rajasekar, Klarna Organizations: Tiger, UPS, RingCentral, University of Manchester, Financial Times, Venture, Founders, Microsoft, Private Locations: London, Australia, Lebanese, US, Dubai, Papua New Guinea, Switzerland, Hopin

We're selling 200 shares of Halliburton (HAL) at roughly $40.64 each Following Wednesday's trade, Jim Cramer's Charitable Trust will own 1,400 shares of HAL, decreasing its weighting to 1.97% from 2.24%. HAL YTD mountain Halliburton YTD performance Supporting the energy trade of late has been the impressive recovery in oil and natural gas . The recent move in HAL and our energy stocks has us feeling a little greedy about our three positions, which also at one point this year were in the red. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma.

Persons: Jim Cramer's, Halliburton, We'll, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Technology, West Texas, Coterra, Natural Resources, CNBC, Getty Locations: Stillwater , Oklahoma

☆ Triller is finally heading to the public markets after trimming losses and tweaking its investor pitch. Here are 3 main takeaways from the hundreds of pages it filed.
▼ + stars: | 2023-08-09 | by ( Dan Whateley | ) www.businessinsider.com time to read: +8 min

Triller's preliminary S-1 filing to go public on the New York Stock Exchange has been released. The company reported a smaller net loss in 2022 than in 2021 and around $48 million in 2022 revenue. In its S-1, the company featured images of celebrities like Jennifer Lopez and DJ Khaled inside Triller products. One metric notably absent from Triller's S-1 is active user counts across its platforms. In its S-1, the company wrote it had "established more than 550 million user accounts" across its offerings, which it defined as anyone who created an account.

Persons: Triller, It's, it's, Snoop Dogg, Josh Richards, Richards, Jennifer Lopez, DJ Khaled, Charli D'Amelio, D'Amelio, TikTok, Julius, Triller's, Mike Lu, Ryan Kavanaugh's, Bobby Sarnevesht Organizations: New York Stock Exchange, Sony Music Entertainment, Universal Music Group, Sony Music, Seachange, SEC, Triller, YouTube, Facebook, Twitter, Meta, Inc, TechCrunch, Billboard, Media Locations: NFTs, TikTok, Triller

☆ Moody's cuts ratings of 10 U.S. banks and puts some big names on downgrade watch
▼ + stars: | 2023-08-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Moody's cut the credit ratings of a host of small and mid-sized U.S. banks late Monday and placed several big Wall Street names on negative review. Moody's also changed its outlook to negative for 11 banks, including Capital One , Citizens Financial and Fifth Third Bancorp . Among the smaller lenders receiving an official ratings downgrade were M&T Bank , Pinnacle Financial , BOK Financial and Webster Financial . "Meanwhile, many banks' Q2 results showed growing profitability pressures that will reduce their ability to generate internal capital. Though the stress on U.S. banks has mostly been concentrated in funding and interest rate risk resulting from monetary policy tightening, Moody's warned that a worsening in asset quality is on the horizon.

Persons: Moody's, Cullen, Frost, Jill Cetina, Ana Arsov Organizations: New York Stock Exchange, Bank, New York Mellon, U.S . Bancorp, Truist, Frost Bankers, Northern Trust, Capital, Citizens Financial, Fifth Third Bancorp, T Bank, Pinnacle Financial, BOK, Webster, Regional, Silicon Valley Bank, Signature Bank, Credit Suisse, UBS, Federal Reserve, Fed Locations: New York City, U.S, Regional U.S, Silicon, Europe, Swiss

☆ From $40 billion to 'going concern' — WeWork warns of possible bankruptcy
▼ + stars: | 2023-08-08 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

"Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern," WeWork said in a filing with the SEC on Tuesday. The company had a net loss in the first half of the year of $700 million after losing $2.3 billion in 2022. WeWork said its revenue grew just 3.6% year over year in the second quarter and declined 4% in the U.S., where it gets 41% of its sales. In the second quarter, the company contributed $6 million of WeWork's revenue, down from $10 million in the second quarter of 2022, according to the filing. Key factors for whether WeWork can remain a going concern include limiting capital expenditures, increasing revenue and seeking capital through debt or equity issuance.

Persons: WeWork, Adam Neumann's, Masayoshi Son, Neumann, Daniel Hurwitz, Sandeep Mathrani, David Tolley Organizations: SEC, SoftBank, U.S, Intelsat, Apple Locations: Australia, Sydney, U.S

☆ Decoupling capital flows to China could hurt the U.S., says Morgan Stanley's Stephen Roach
▼ + stars: | 2023-08-08 | 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 EmailDecoupling capital flows to China could hurt the U.S., says Morgan Stanley's Stephen RoachStephen Roach, Former Chairman of Morgan Stanley Asia, and David Riedel, President of Riedel Research Group, join 'The Exchange' to discuss Biden's executive order to curb U.S. investment in China, how decoupling from China could hurt the U.S. and China's economy showing fundamental weakness.

Persons: Morgan Stanley's Stephen Roach Stephen Roach, Morgan Stanley Asia, David Riedel Organizations: Riedel Research Locations: China

☆ Fintech VCs are readying their checkbooks as cash-strapped startup founders run out of options
▼ + stars: | 2023-08-08 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Fintech funding has been on a decline from 2021's peak levels, but VCs see signs of a rebound. VCs are itching to get back to dealmaking as they see early signs of a rebound in the fintech industry. Cash-strapped founders who didn't want to fundraise in a down market and get valuations slashed are running out of options and time. They dominated the fintech market in the past several years, but the shine is wearing off, Shriner said. Fintech VCs will get to spend more time on due diligence, looking beyond so-called "vanity metrics," Fernandez said.

Persons: Cash, didn't, Mark Peter Davis, Davis, We're, Tripp Shriner, Robert Ruark, Ruark, B2C, VCs, Shriner, — crowdedness, Stephanie Choo, Marcos Fernandez, KPMG's Ruark, Fintech, Fernandez Organizations: Interplay, Investors, Point72 Ventures, KPMG, Tiger, Portage Ventures, Fiat Ventures Locations: dealmaking, VCs, overvaluations

☆ Fed policy is weighing on US banks. Here's everything to know about the Moody's downgrades.
▼ + stars: | 2023-08-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In what amounted to 27 rating actions on US banks, Moody's pointed to rising costs of capital, deteriorating profits, and climbing risks to assets. In effect, much of the stress on banks Moody's is responding to can be chalked up to the Federal Reserve's policy decisions over the past year and a half. "Most banks' deposits were flat or down only modestly, but the mix worsened, with non-interest-bearing deposits declining and banks paying more for deposits," Moody's strategists wrote. So Moody's downgrades aren't all doom and gloom for these firms, and it's always possible the moves are reversed once the outlook turns rosier. Banks are in the money business, he explained, and the Fed has made money harder to come by.

Persons: Moody's, Service It's, they've, it's, Michael Bell, Honigman, Banks, Bell Organizations: Bank of New York Mellon, US Bancorp, Service, Northern Trust, State Street, Capital, Citizens Financial, Fifth Third Bancorp, Bank, KBW Nasdaq, Fed, Silicon Valley Bank, First Republic Bank, Signature Bank, Reserve, Moody's, Treasury Locations: Wall, Silicon, Japan

☆ Altice’s beaten-up debt is only a bet for the bold
▼ + stars: | 2023-08-08 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +6 min

REUTERS/Violeta Santos MouraLONDON, Aug 8 (Reuters Breakingviews) - Altice’s debt is a bet for the bold. Patrick Drahi’s telecoms group is sitting on a $60 billion debt burden, and faces rising borrowing costs and a corruption investigation. Drahi will therefore need to sell assets to cut debt, which starts to come due in 2025. Both Altice France and Altice International are trying to sell their data centre businesses, which could raise some 700 million euros, bankers say. Yet Altice France alone has some $19 billion of debt coming due by 2029.

Persons: Patrick Drahi, Violeta Santos Moura, Patrick Drahi’s, Drahi –, Armando Pereira, Altice, Drahi, “, ”, Pereira, Xavier Niel’s, Manuel Magalhaes e Silva, Altice International’s, Alexandre Fonseca, Neil Unmack, Oliver Taslic Organizations: French, REUTERS, Violeta Santos Moura LONDON, Reuters, Altice USA, Altice, Bouygues Telecom, Banco Espírito Santo, Public, Thomson Locations: Paris, France, Moroccan, Europe, United States, Portugal, Israel, Dominican Republic, Orange, Altice France, Banco Espírito, Portuguese, New York, London

☆ WeWork warns it has 'substantial doubt' about whether it can keep going as a business
▼ + stars: | 2023-08-08 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

WeWork warned Tuesday that it had "substantial doubt" about its ability to keep operating. The company reported a loss and a decline in memberships in its second-quarter earnings. Co-working company WeWork is apparently in troubled waters. In its second quarter earnings report on Tuesday, the company said there's "substantial doubt" about its ability to keep going as a business. WeWork reported a net loss of $397 million on consolidated revenue of $844 million for the quarter.

Persons: WeWork, they're, David Tolley, Tolley, Sandeep Mathrani Organizations: Morning, P, NYSE, Bloomberg

☆ Indian private credit funds rush to fill gap left by banks
▼ + stars: | 2023-08-08 | by ( Bhakti Tambe | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 8 (Reuters) - A growing number of Indian alternative investment funds are expanding their private credit business, filling a void left by banks and non-bank lenders and mirroring a pick-up in activity across Asia. Private credit funds typically invest in debt or hybrid securities of unrated and lower-rated companies. Edelweiss Alternatives has invested 359 billion rupees in private credit and is looking to launch its next real estate credit fund. Vivriti Asset aims to add 15 billion rupees to the roughly 35 billion rupees it already manages in private credit, managing director Vineet Sukumar said. Private credit funds lend to these companies at 12%-18%, splitting transactions into tranches.

Persons: Lakshmi Iyer, Vineet Sukumar, Goswami Infratech, Amit Agarwal, Ankur Jain, Bhakti Tambe, Savio D'Souza Organizations: Advisors, Investments, Vivriti, Management, Edelweiss, Thomson Locations: MUMBAI, Asia, Edelweiss

☆ Paramount to sell Simon & Schuster to KKR for $1.6 billion in cash
▼ + stars: | 2023-08-07 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Paramount posted Simon & Schuster for sale in 2020. In November 2022, Paramount ended its agreement to sell Simon & Schuster to Penguin Random House in what would have been a $2.2 billion deal. In October 2022, US District Court Judge Florence Pan ruled the combination of the book publishing giants would illegally reduce competition. The private equity firm also sold audiobook publisher RBMedia to H.I.G Capital this year after acquiring it in 2018.

Persons: Simon, Schuster, Bob Bakish, ” Bakish, Jonathan Karp, Dennis Eulau, Biden, Florence Pan, Penguin, RBMedia Organizations: New, New York CNN, Paramount, KKR, Paramount Global, Random, Justice, Elliott Management, Barnes & Nobles, Amazon, H.I.G, & $, & $ Locations: New York, Barnes

☆ EV firm Proterra files for Chapter 11 bankruptcy protection
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing Guan/file photoAug 7 (Reuters) - Electric-vehicle parts supplier Proterra (PTRA.O) filed for Chapter 11 bankruptcy protection on Monday, making it the latest company to go belly up in an industry grappling with supply chain constraints, slowing demand and a funding drought. The move comes weeks after Lordstown Motors filed for bankruptcy protection and put itself up for sale after failing to resolve a dispute over a promised investment from Foxconn. The company had a market value of $362 million as of last close. In January 2021, Proterra was valued at $1.6 billion, including debt, in a merger deal with a blank-check firm. Proterra, which makes electric buses as well as battery packs, said it intends to continue to operate in the ordinary course of business.

Persons: Bing Guan, Lordstown Motors, Proterra, Gareth Joyce, Manya Saini, Anil D'Silva Organizations: City Transportation Department, REUTERS, Proterra, Lordstown, Thomson Locations: Los Angeles , California, U.S, Foxconn, South Carolina, Bengaluru

☆ Prosecutor, defense request house arrest for son of Colombian president
▼ + stars: | 2023-08-04 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +3 min

Defendant and son of Colombian president Gustavo Petro, Nicolas Petro attends a hearing in Bogota, Colombia August 3, 2023 in this screengrab taken from a handout video. Colombian Prosecutor's Office/Handout via REUTERSBOGOTA, Aug 4 (Reuters) - Both the prosecution and the defense in a money laundering and illicit enrichment case against Nicolas Petro, the eldest son of Colombian President Gustavo Petro, on Friday requested house arrest for the younger Petro. Petro, 37, was arrested last weekend in the city of Barranquilla alongside his ex-wife, Daysuris del Carmen Vasquez, who is being held on similar charges. Both prosecutor Burgos and Petro's defense attorney David Teleki supported a house arrest measure in a morning hearing, with Teleki citing the impeding birth of Petro's child with his current partner. According to the charges, Nicolas Petro received money from accused drug traffickers in exchange for including them in the president's peace plans.

Persons: Gustavo Petro, Nicolas Petro, Petro, Daysuris del Carmen Vasquez, Mario Burgos, Burgos, David Teleki, pained, Luis Jaime Acosta, Julia Symmes Cobb, Alistair Bell Organizations: Colombian Prosecutor's, REUTERS, Teleki, Thomson Locations: Bogota, Colombia, REUTERS BOGOTA, Barranquilla, Atlantico province

☆ Colombia, ELN rebels start six-month ceasefire
▼ + stars: | 2023-08-03 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +3 min

[1/7] An attendee looks on during an event with peace negotiators of Colombia's government and the National Liberation Army (ELN) rebels, in Bogota, Colombia August 3, 2023. "Welcome to peace," Petro told the inauguration of a committee meant to ensure civil society participation in the talks. The government's high peace commissioner, Danilo Rueda, had said on Tuesday the ceasefire would safeguard civilians and protect them from crimes like kidnapping. The United Nations Secretary-General congratulated the two sides on the ceasefire in a statement on Thursday, hailing its potential to reduce civilian suffering. The U.N. Verification Mission in Colombia will monitor the effort under a mandate form the Security Council.

Persons: Vannessa Jimenez, Gustavo Petro's, Petro, Eliecer Herlinto Chamorro, guerre Antonio Garcia, Danilo Rueda, Aureliano Carbonell, Carbonell, del, Rueda, Luis Jaime Acosta, Oliver Griffin, Leslie Adler Organizations: National Liberation Army, REUTERS, United Nations, Security Council, Force, Clan, Reuters, Congress, Estado Mayor Central, Revolutionary Armed Forces, Segunda, Thomson Locations: Bogota, Colombia, Vannessa Jimenez BOGOTA, Petro

☆ Bombardier quarterly profit beats estimates on demand for business jets
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Christinne Muschi/File PhotoMONTREAL, Aug 3 (Reuters) - Canada's Bombardier Inc (BBDb.TO) on Thursday reported better-than-expected quarterly profit and higher revenue despite supply chain pressures, helped by demand for flying and maintaining private planes. The Montreal-headquartered business jet maker reported a second-quarter profit of $10 million from continuing operations, compared with a loss of $109 million a year earlier. CEO Eric Martel told analysts that despite "pressure points" such as smaller suppliers, the supply chain is improving and will "remain a key area of focus for the foreseeable quarters". Last month, Gulfstream jet maker Textron Inc (TXT.N) raised its full-year profit forecast on strong jet pricing. On a per share basis, quarterly adjusted profit was 72 cents, compared with a loss of 48 cents a year earlier.

Persons: Christinne, Eric Martel, Refinitiv, Allison Lampert, Abhijith, Saumyadeb Chakrabarty, Jan Harvey Organizations: Bombardier Global, REUTERS, MONTREAL, Bombardier Inc, Gulfstream, Textron Inc, Bombardier, Thomson Locations: Montreal, Quebec, Canada, Bengaluru

☆ Accessing Capital to Drive Growth
▼ + stars: | 2023-08-02 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAccessing Capital to Drive GrowthDespite continued economic uncertainty, growth opportunities do currently exist for small businesses. But growth often requires capital, which has become a major focus of the Small Business Administration. We'll discuss the agency's programs that offer financial assistance, and access, for US-based small business owners, and what the govt is doing to elevate businesses from historically marginalized groups. This interview was a part of CNBC's Small Business Playbook event on August 2nd, 2023.

Persons: We'll Organizations: Small Business Administration, US, CNBC's

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