Day: July 25, 2020

BookWatch: What I learned as an immigrant CEO in the Deep South
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BookWatch: What I learned as an immigrant CEO in the Deep South

“ It’s important for all leaders to identify, call out, and correct biases and prejudices that may exist within their organizations. ” I’m an immigrant who has lived in the United States for almost 60 years. I left my native India when I was a teenager. My family didn’t have much wealth, so my mother had to sell her jewelry to afford the ticket for me to embark upon my journey. I initially landed in the United Kingdom where I worked as a common laborer in a Goodyear Tire factory, saving enough money so that I could eventually attend and graduate from Auburn University in Alabama. After college, I began working at Law Engineering, a regional firm, as a junior employee. A couple decades later, I became its chairman and CEO. I have spent most of my life living and working in the Southe...
Liquid Exchange Confirms Asset Delistings Due to Regulatory Requirements
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Liquid Exchange Confirms Asset Delistings Due to Regulatory Requirements

Japanese exchange Liquid recently unveiled a mass asset removal from its platform, which COO Seth Melamed claimed necessary for legal compliance. “Liquid works closely with regulators in Japan and Singapore,” Melamed told Cointelegraph on July 25. Referring to Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, regulations, he added: “As part of risk management we have to take a conservative approach regarding maintaining listings in tokens that are potentially viewed by regulators as in conflict with rules around AML and CFT and the Funds Travel Rule.” Liquid provided a public statement The exchange’s asset removal list includes privacy-focused coin Zcash (ZEC). A July 22 tweet from Zcash’s overseeing entity, the Electric Coin Company, tipped off the ...
Zuckerberg, Bezos, Cook and Pichai antitrust hearing rescheduled for Wednesday – CNET
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Zuckerberg, Bezos, Cook and Pichai antitrust hearing rescheduled for Wednesday – CNET

Facebook CEO Mark Zuckerberg testifying before a Congressional House Financial Services Committee in 2019.  NurPhoto/Getty Wednesday should be a historic day. Mark Zuckerberg, Jeff Bezos, Tim Cook and Sundar Pichai -- the CEOs of Facebook, Amazon, Apple and Google-owned Alphabet -- are scheduled to sit before the House Judiciary Subcommittee on Antitrust. The hearing, which was initially scheduled for Monday, has been rescheduled for noon Eastern, as Axios first reported on Saturday morning. A scheduling conflict was to blame for the delay. The late John Lewis, a Democratic representative and civil rights leader who died last week of pancreatic cancer, will lie in state in the Capitol Rotunda on Monday, it was announced on Thursday. For more like this Subscribe to the CNE...
Preferred Bank: How The Q2 Conference Call Removed My Worries On This 3% Yielding Bank
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Preferred Bank: How The Q2 Conference Call Removed My Worries On This 3% Yielding Bank

Introduction I have been looking at some of the hundreds of regional banks in the US lately as some of those banks appear to be attractively priced. During my due diligence phase (which is ongoing), I encountered one case where I would have avoided the shares based on the financial statements, but initiated exposure after the conference call as the bank’s management team clearly explained the details of the income statement and the element I had a big issue with. Since the call, I have increased my exposure to Preferred Bank (PFBC) by writing out of the money put options. Data by YCharts Upon seeing the financial results, I had a lot of issues and outright worries In the second quarter of the year, Preferred Bank saw its interest income decrease by approximately $3.5M compared to the f...
FDA recalls additional hand sanitizers, over 75 products now on the list – WRAL.com
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FDA recalls additional hand sanitizers, over 75 products now on the list – WRAL.com

The Food and Drug Administration has updated the list of recalled sanitizers and it now includes over 75 products. The recalled products indicate on the packages that they contain ethanol (also known as ethyl alcohol) but they have tested positive for methanol contamination. According to the FDA recall notice, "Methanol, or wood alcohol, is a substance that can be toxic when absorbed through the skin or ingested and can be life-threatening when ingested. The agency is aware of adults and children ingesting hand sanitizer products contaminated with methanol that has led to recent adverse events including blindness, hospitalizations and death." The FDA began warning consumers about the hand sanitizers made with methanol in late June and again updated the list with additional recalled pr...
ICICI Bank’s loans under moratorium falls to 17.5% in June
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ICICI Bank’s loans under moratorium falls to 17.5% in June

Mumbai: The total loans under moratorium for ICICI Bank fell to 17.5% by value in June from around 30% in April with less than 10% of customers added to the ones that had availled the moratorium facility in April, the bank said in a post earnings call.ICICI Bank's fall in loans under moratorium is in line with other banks which have seen a fall in customers seeking the special dispensation of the RBI as cash flows improved and economic activity limps back to normalcy. However, the bank declined to give an outlook on loans under moratorium because things are still fluid. "At this point of time it is very difficult to give a outlook on loans because the moratorium is continuing...over the medium term we expect a new normal to emerge and we are well positioned to take advantage of it beca...
ICICI Bank Q1 takeaways: Huge Covid provisions, lower credit growth & more
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ICICI Bank Q1 takeaways: Huge Covid provisions, lower credit growth & more

NEW DELHI: In spite of a Rs 3,000 odd crore one-off treasury gain, ICICI Bank's June quarter earnings missed Dalal Street estimates by a wide margin, as the bank chose to utilise the funds raised from stake sales in ICICI Prudential and ICICI Lombard to create higher-than-expected Covid 19-related provisions.The bank said the provisions were made on prudent bases and would boost the balance sheet amid Covid-19 related uncertainty. Here are key takeaways from June quarter results: Focus on boosting the balance sheet: The private lender said the impact of Covid-19 pandemic is highly uncertain and will depend on the virus spread, the effectiveness of steps taken by the government and RBI to mitigate its economic impact. "The bank's capital and liquidity position remains strong and would c...
Hollard to pay relief to clients hit by lockdown
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Hollard to pay relief to clients hit by lockdown

Hollard Insurance said it will provide relief to small and medium businesses hit financially by a lockdown to curb the spread of the coronavirus.The announcement comes after the Financial Sector Conduct Authority on Friday said insurers agreed to consider paying relief to customers, pending the outcome of several court cases to determine whether insurers should pay clients who were forced to close due to the lockdown. The relief will come in the form of once-off payments to enable businesses to keep running, the authority said. With legal processes likely to take some time, Hollard has decided to pay clients covered for contagious diseases under the terms of their business-interruption policies, according to a statement Saturday. “We remain of the view that nationwide government closu...
Stock Market Tips for Tomorrow 27th July 2020
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Stock Market Tips for Tomorrow 27th July 2020

SELL GRASIM (NSE Code) Sell Below 582 after cooling period. SIGNAL : TRIPLE BOTTOMS BEING BREACHED WITH BEARISH BELL HOLD PATTERN. Stop Loss : 612.25 Target : 558.40 (Short term) HOT BUZZING STOCKS (27.07.2020) NSE SYMBOL      CLOSING RATE GOKEX    48.05 ONWARDTEC    66.35 ADANIGREEN    336.30 CAMLINFINE    64.10 EVEREADY    120.75 PNBHOUSING    220.60 REPCOHOME    132.35 SHARDACROP    293.00 5PAISA    444.65 GTPL    94.60 RAMCOSYS    125.15 WABAG    137.90 TANLA    115.15 ADFFOODS    325.35 OMAXE    65.70 FRETAIL    95.45 DEN &...
Streams of Excitement: Twitch Levels-Up to Unlock Bitcoin Discount
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Streams of Excitement: Twitch Levels-Up to Unlock Bitcoin Discount

Amazon-owned streaming platform Twitch appears to be ramping up its crypto strategy. The site, which focuses primarily on video game livestreaming, is now offering users a 10% subscription discount when paying with cryptocurrency through the platform’s payment processor, BitPay. BitPay’s chief marketing officer, Bill Zielke, told Cointelegraph that out of the thousands of merchants the company works with, Twitch is the first major global brand to offer a crypto-based promotion. Zielke added: “We are seeing more online merchants interested in using crypto as a promotional payment form, which is exciting since most marketing payment options are mainly reserved for alternative payments through PayPal. [...] Twitch is the first major merchant to jump on this trend.” Is Twitch’s interest i...