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NEW YORK (Reuters) -Citigroup took a $110 million writedown on leveraged loans in the third quarter, the company said on Friday as its Wall Street competitors downplayed their exposure to the sector. Banks have since pulled back from leveraged financing in the wake of losses taken on Citrix and other deals, as investors lost their appetite for riskier, floating-rate leveraged loans amid rapid interest rate hikes and fears of recession. “There are no real levels of loan write-down this quarter, and that market isn’t yet to clear,” Jamie Dimon, JPMorgan’s chief executive officer, told analysts on a conference call. So we’re very comfortable.”Morgan Stanley also scaled back its leveraged exposure in the third quarter. “They actually were quite modest marks, given the environment,” Sharon Yeshaya, Morgan Stanley’s chief financial officer, told analysts.

Typically, banks would sell the debt to investors and pocket an underwriting fee. Elon Musk vs TwitterThe debate, currently a topic of conversation among investment bankers and debt investors, provides a window into the havoc wreaked on Wall Street by Musk’s U-turn last week. Musk, however, conditioned his proposal on his ability to secure debt financing and now has until Oct. 28 to close on the transaction. VARIOUS OPTIONSThe debt financing package is comprised of leveraged loans, which are risky because of the amount of debt the company is taking on, as well as secured and unsecured bonds. In September, banks financing the Citrix buyout undertook a similar restructuring.

☆ The 16 most promising cloud-software startups of 2022, according to VCs
▼ + stars: | 2022-10-11 | by ( Katie Malone | Julie Bort | ) www.businessinsider.com time to read: +1 min

Insider asked top venture capitalists to name the most promising startups of 2022They named many software-as-a-service startups focused on B2B. It's been a rough fundraising year for many startups as VCs have radically slowed spending from 2021 levels. Finding promising, flourishing B2B software-as-a-service, or SaaS, cloud startups in 2022 is a bit more difficult than it has been in years past. Insider asked top investors to name the most promising startups they've seen this year, both in and out of their portfolios. Here are the 16 most promising SaaS startups of 2022, according to VCs, from least to most capital raised:

☆ Mark Cuban credits his first tech job to this interview strategy: I answered a trick question honestly
▼ + stars: | 2022-10-11 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Then, he landed his first job in tech as a PC software salesperson at a company called Your Business Software. But in an old blog post, which Cuban recently shared on Twitter, the billionaire revealed he almost didn't land the consequential role. The interviewers weren't impressed, Cuban wrote, until he answered one question: "What do you do if a customer has a question about a software package and you don't know the answer?" "Ding ding ding… [the interviewer] just loved the answer." Cuban didn't know it was a trick question, so he answered it honestly, stumbling into the correct answer.

☆ Insight Partners to acquire stake in software firm Aptean
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

Oct 10 (Reuters) - New York-based private equity and venture capital firm Insight Partners will acquire a minority stake in Aptean, the business software firm said on Monday. Existing investor TA Associates has also invested, Aptean said, making the investment firm its largest shareholder. Register now for FREE unlimited access to Reuters.com RegisterVista Equity Partners, previously equal partners in Aptean with TA Associates, will fully exit its stake in the company. Charlesbank Capital Partners, a private investment firm that joined TA Associates and Vista Equity as stakeholder in 2020, will continue to be a shareholder, Aptean said. The investment firm then merged CDC Software with Consona Corp to form Aptean.

☆ Oracle to Settle SEC Foreign Bribery Charges For the Second Time
▼ + stars: | 2022-09-27 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Oracle Corp. agreed to pay more than $23 million to settle allegations it violated antibribery laws for the second time, following a 2012 settlement, the Securities and Exchange Commission said Tuesday. The U.S. Foreign Corrupt Practices Act prohibits U.S. persons and entities from giving or offering anything of value to foreign public officials to win or keep business. units also used the funds to pay for foreign government officials to attend technology conferences that violated the company’s policies and procedures. As part of the SEC settlement, Oracle didn’t admit or deny the allegations. Austin, Texas-based Oracle in 2012 agreed to pay about $2 million to the SEC to settle a previous set of FCPA charges.

A comparative few credit cards on the market specify that EV charging stations will receive bonus rewards. Earn 2X at airlines, gas stations and EV charging stations. These cards do not officially list EV charging stations in their bonus categories, so your results may vary. Bonus: Save between 10% and 18% at Tesla EV charging stationsIf you're willing to incorporate the stock market into your rewards-earning plan, you can receive 10% or more back on Tesla EV charging. Electric vehicle charging station credit cards — Frequently Asked Questions (FAQ)Is there an EV charging stations map?

☆ Stocks making the biggest moves premarket: Accenture, Darden Restaurants, home builders and more
▼ + stars: | 2022-09-22 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Nonetheless, Accenture gained 1% in premarket trading. Darden Restaurants (DRI) – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line quarter results. Novavax (NVAX) – The drug maker's stock slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to "underweight" from "neutral". Eli Lilly (LLY) – Eli Lilly rose 1.4% in premarket trading after the FDA approved its cancer drug Retevmo for new uses. FactSet Research (FDS) – The financial information services provider fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share.

☆ Banks close painful Citrix debt chapter with $700 mln loss -source
▼ + stars: | 2022-09-21 | by ( Abigail Summerville | Matt Tracy | ) www.reuters.com time to read: +3 min

Citrix Systems logo is seen on smartphone placed on U.S. While the syndication was completed successfully, it was done at a steep discount to the levels that the banks underwrote the debt. It was also buoyed by one of Citrix's acquirers, hedge fund Elliott Management, helping out by buying $1 billion in bonds, a second source said. They also sold a $4 billion three-year Citrix bond for 83.6 cents on the dollar, resulting in a higher than expected yield of 10%, the sources added. More debt syndication pain for the banks is on the way.

Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs. If you spend a lot in the bonus categories and want a card with no annual fee, the U.S. Bank Business Triple Cash Rewards Card could be ideal. The U.S. Bank Business Triple Cash Rewards Card is also a good choice if you want to earn a lucrative cash bonus. US Bank Business Triple Cash Rewards frequently asked questions (FAQ)Is the US Business Triple Cash Rewards worth it? No, the U.S. Bank Business Triple Cash Rewards Card is not metal.

☆ Block CFO Amrita Ahuja breaks down the company's long-term growth strategy and how it positions itself for success
▼ + stars: | 2021-12-14 | by ( Lily Katzman | ) www.businessinsider.com time to read: +6 min

Its CFO, Amrita Ahuja, told Insider about how cryptocurrency is influencing its financial growth. Block is a global technology company focused on financial services that includes the digital payments company called Square. This is positive news for Block Chief Financial Officer Amrita Ahuja. Ahuja said this financial statement put Block in a position for long-term success. This is in addition to the development of Block hardware wallet, a product that Block says will normalize bitcoin storage.

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