dChan
Anonymous ID: 11ede6 Feb. 28, 2021, 8:16 a.m. No.64032   🗄️.is đź”—kun   >>4074 >>4132 >>4148 >>4165 >>4198 >>4238

Aramco seeks one-year extension on $10 billion loan

 

Saudi Aramco has asked banks to extend by a year a $10 billion loan it raised last May, two sources familiar with the matter said, suggesting that rebounding crude prices are not pushing the oil giant to reduce debt for the time being. The sources confirmed a report by Loan Pricing Corporation, a fixed-income news provider owned by Refinitiv. It is at the banks’ discretion whether to extend the loan, but lenders will likely agree in order to maintain a good relationship with Aramco in the hope of receiving future business, LPC said citing a banker. One of the sources, who confirmed the report, echoed that, saying: “It’s Aramco. Why not?” Aramco declined to comment.

 

LPC cited a banker as saying it was possible Aramco would try to push down pricing by arguing that market conditions have improved since May, when oil prices were much lower and there was much uncertainty about the pandemic. The loan started at 50 basis points over LIBOR, a rate that steps up as more money is drawn from the facility, one of the sources told Reuters, adding Aramco could try to reduce pricing by 10 to 15 bps.

 

Brent crude futures settled at $66.13 a barrel last week. In May last year they were trading at around $30 a barrel, as global demand plunged due to the coronavirus crisis. Sources told Reuters last year that Aramco would use the loan to back its acquisition of a 70% stake in Saudi Basic Industries Corp (SABIC) from Saudi Arabia’s Public Investment Fund, a deal worth almost $70 billion. LPC had previously reported, citing a banker, that the loan would be repaid with the proceeds from a bond sale by the fourth quarter of 2020. That did not happen, even though Aramco raised $8 billion in a multi-tranche bond deal in November. Saudi Aramco’s profits plummeted last year, but it stuck to a promised $75 billion annual dividend, most of which goes to the Saudi government.

 

HSBC said this month that Aramco’s prospects look more positive and promising for 2021, hinting at declining net debt and a possible dividend hike.

https://www.reuters.com/article/saudi-aramco-loans/aramco-seeks-one-year-extension-on-10-billion-loan-sources-idUSL3N2KY08C

Anonymous ID: 11ede6 Feb. 28, 2021, 9:18 a.m. No.64045   🗄️.is đź”—kun   >>4047 >>4074 >>4132 >>4148 >>4165 >>4198 >>4238

Walmart Lures Goldman Bankers in Bid to Fight Wall Street

 

To Fight Wall St.'

Who fuggen writes this shit…

 

Walmart Inc. has lured a pair of senior Goldman Sachs bankers to help lead a new fintech startup as the retail giant muscles into the banking business.

 

Omer Ismail, the head of Goldman’s consumer bank, is making a surprise exit to the fintech, according to people with knowledge of the matter. The world’s largest retailer made a splash last month after disclosing plans to offer financial services with an independent venture in a tie-up with investment firm Ribbit Capital without offering much detail. David Stark, one of his top lieutenants at Goldman, will join him in the new venture, the people said, asking not to be identified as the moves haven’t been announced.

 

Walmart’s move depriving one of Wall Street’s elite firms of the talent atop its own foray into online banking underscores the seriousness of the retailer’s intent to intertwine itself in the financial lives of its customers. The audacious poaching punctuates years of warnings by bank leaders that their industry faces tough new challengers, after regulators smoothed the way for corporate giants and Silicon Valley to expand into payments and other services.

 

Ismail, in particular, offers rare credentials. He’s credited as one of the key architects behind Goldman’s push into Main Street, seeing through the growth of Marcus into a billion-dollar business in five years.

 

The departures are a setback for Goldman, which had just entrusted Ismail and Stark with bigger roles. Ismail formally assumed control of the consumer bank at the start of the year. But he’s been tied to it ever since Goldman’s merchant bank set up the side project several years ago.

 

The investment bank was looking to grow beyond its traditional strengths, and Ismail helped formulate the plan for Marcus – the biggest strategy refresh the firm has seen in three decades. The company ultimately resolved to make itself a serious force in digital banking. Stark played a key role in Goldman’s partnership with Apple Inc. on a credit card, for which the bank provides the financial backbone. Weeks ago, Goldman named Stark as the head of large partnerships. That’s a key peg for Marcus’s growth, which has already struck deals with Amazon, JetBlue and even Walmart. Fintech ventures typically offer customers low-cost products by eschewing physical branches, and instead using online portals or phones to provide loans, savings accounts or investment options. Walmart said in January it aims to combine its “retail knowledge and scale with Ribbit’s fintech expertise” to serve shoppers and associates. Walmart will own a majority of the new venture, but in Ribbit, it has a partner that’s made big bets in the fintech space including backing Robinhood Markets Inc., the popular no-fee brokerage.

 

In December, the Federal Deposit Insurance Corp. approved a final rule governing so-called industrial loan companies that would make it easier for major businesses to seek banking charters while escaping capital and liquidity demands faced by dedicated financial firms. That’s a worrying prospect for banks facing the risk of going up against against corporate behemoths that could lean on their huge customer base to eat into the banking wallet.

 

Ismail’s predecessor Harit Talwar is still a chairman at Marcus and will probably continue to play a key role with the division after Ismail’s exit. The unit also hired a former Stripe Inc. executive Swati Bhatia as the head of its direct-to-consumer business earlier this month.

https://www.bloomberg.com/news/articles/2021-02-28/goldman-s-consumer-chief-ismail-makes-surprise-exit-for-fintech

 

from 2008

Goldman Sachs wins NY state banking charter

Goldman Sachs Group Inc GS.N on Friday won a charter from New York State's banking department, a key step in the Wall Street bank's effort to change its investment banking model and gather deposits. The new bank will be called Goldman Sachs Bank USA, and include Goldman Sachs Capital Markets LP, Goldman Sachs Credit Partners LP and Goldman Sachs Mortgage Co, the banking department said. Goldman will merge its Utah-based industrial loan company into its New York-chartered trust company. Goldman Sachs Bank will be based in New York City. A Goldman spokeswoman declined to comment.

 

The approval came two months after the Federal Reserve designated Goldman and rival Morgan Stanley MS.N as bank holding companies. That change gives them access to more low-cost funding and the $700 billion federal bank bailout, but requires greater regulatory scrutiny and reduced risk.

https://www.reuters.com/article/sppage012-n28450743-oisbn-idUSN2845074320081128

Anonymous ID: 11ede6 Feb. 28, 2021, 10:14 a.m. No.64060   🗄️.is đź”—kun   >>4074 >>4132 >>4148 >>4165 >>4198 >>4238

Myanmar coup latest: Protestors fatally shot as troops use live ammunition

 

11:00 p.m. Violence by Myanmar's military against civilian protesters in towns and cities across the country escalated on Sunday as security forces used live ammunition, rubber bullets and tear gas against mostly peaceful civilians protesting the Feb. 1 military takeover. By mid-afternoon, at least 18 had been fatally shot, according to the United Nations human rights office, and scores injured by military or police forces in several towns and cities, including the southern town of Dawei, Bago near Yangon, and Mandalay, in the west, where one death was reported. In Mandalay, several thousand people took to the streets on Sunday morning, and violent clashes were reported between police and crowds. Violence between security forces and protesters was also reported in ethnic-dominated areas including Hpa-an and Myawaddy in Kayin state, Lashio and Taunggyi in Shan state, Myitkyina in Kachin state and Mawlamyine in Mon state.

 

2:30 p.m. Police fire rubber bullets and tear gas to disperse crowds in Myaynigone, central Yangon, where large scale protests have been taking place. A man who was shot in four different places said: "I am wounded, but I will be out again to protest." Soldiers have also been seen on the streets of Myanmar's former capital and largest city.

 

12: 00 p.m. A man brought to a hospital in Yangon with a bullet wound to the chest has died after police opened fire, a doctor tells Reuters on condition of anonymity. The Mizzima media outlet has also reported the man's death.

 

11:15 a.m. Police gunfire in Dawei has killed one and wounded several, politician Kyaw Min Htike tells Reuters from the southern town. Dawei Watch, a media outlet, also reports that one person was killed and more than a dozen wounded.

 

10:00 a.m. A state-run newspaper says about 500 people were detained on Saturday.

 

8:50 a.m. More than 1,000 defiant protesters start to march in downtown Yangon. Many hold placards promoting the "Milk Tea Alliance," a loose but growing international movement driven by young and tech-savvy democracy activists in Thailand, Hong Kong and elsewhere. Witnesses say police have started cracking down in multiple locations in the city.

https://asia.nikkei.com/Spotlight/Myanmar-Coup/Myanmar-coup-latest-Protestors-fatally-shot-as-troops-use-live-ammunition

Anonymous ID: 11ede6 Feb. 28, 2021, 10:28 a.m. No.64063   🗄️.is đź”—kun   >>4074 >>4132 >>4148 >>4165 >>4198 >>4238

Japan's Mizuho Bank reports large-scale ATM system failure

 

Mizuho Bank said Sunday a glitch affecting more than half of its 5,400 automated teller machines had prevented customers from withdrawing cash.

 

The system failure apparently occurred nationwide, one of Japan's largest banks said. In some cases, ATMs stopped functioning and cash cards were not returned. Its internet banking service also failed to complete some transactions. The system started to recover after being rebooted, but the work was not completed as of 9 p.m., the bank said.

 

Mizuho was informed of problems with its ATMs from Sunday morning. Of the 5,395 ATMs, 2,956 had stopped functioning by 7:40 p.m. "We apologize for any inconvenience," the banking arm of Mizuho Financial Group Inc. said on its website, asking customers to use the ATMs of its partner banks if they need money immediately. Mizuho Financial has experienced large-scale system failures in the past. In April 2002, when its affiliated banks were reorganized, problems at ATMs resulted in 2.5 million electronic withdrawals and other transactions being delayed. In March 2011, ATM and counter transactions were temporarily suspended and more than 1 million money transfers were delayed soon after the massive earthquake and tsunami in northeastern Japan.

https://mainichi.jp/english/articles/20210228/p2g/00m/0bu/072000c

 

Mizuho Securities is a FRBNY Primary Dealer.

https://www.newyorkfed.org/markets/primarydealers

Anonymous ID: 11ede6 Feb. 28, 2021, 10:57 a.m. No.64074   🗄️.is đź”—kun

@50

#293

>>64019 d'oh

notabruhs, not endorsements

>>64032 Aramco seeks one-year extension on $10 billion loan

>>64039, >>64042, >>64058 pf reports

>>64045, >>64051 Walmart Lures Goldman Bankers in Bid to Fight Wall Street…:I

>>64060 Myanmar coup latest: Protestors fatally shot as troops use live ammunition

>>64061, >>64062 Peter Daszak diggz on pb notable:Top WHO Official Caught on Video in December 2019

>>64063 Japan's Mizuho Bank reports large-scale ATM system failure

>>64067 Sum history: On this day in 1943-Operation Gunnerside: Norsk Hydro plant at Vermok, Norway, being used by the Nazi German nuclear research program, was successfully sabotaged by Norwegian SOE commandos

>>64069 RSBN livestream CPAC

Anonymous ID: 11ede6 Feb. 28, 2021, 1:05 p.m. No.64099   🗄️.is đź”—kun   >>4101 >>4132 >>4148 >>4165 >>4198 >>4238

>>64076

SAM840 USAF KAF AC of Interdast from Austin, TX behind BOXR739 USAF C-40C from Peterson AFB with BOXR760 C-40 that also departed Peterson over a rainy Charleston, W,VA-should begin it's descent in about 15-20 minutes

 

SAM679 USAF G5 departed Maui, Kahului Int'l and a fly by over Hilo Int'l on the Big Island

Currently doing same at Kona Int'l on da west siiiiide.

This AC arrived at Maui yesterday from Salt Lake City Int'l

It departed JBA on 0226 with a ground stop at Grand Junction, CO after several fly-bys then to SLC

Anonymous ID: 11ede6 Feb. 28, 2021, 4:33 p.m. No.64139   🗄️.is đź”—kun   >>4148 >>4165 >>4198 >>4238

CAE Nears Deal to Buy L3Harris’s Military-Training Business

 

CAE Inc. CAE -1.85% is nearing a deal to buy L3Harris Technologies Inc.’s LHX -2.72% military-training division for $1.05 billion, according to people familiar with the matter, in a move that would expand the Canadian aerospace company’s defense business. An agreement is expected Monday, assuming talks don’t fall apart, the people said.

 

The unit includes three main businesses: Link, which provides military training in the U.S.; Doss Aviation, which provides flight training to the U.S. Air Force; and AMI, which designs and makes simulator hardware. The business, which has about $500 million in annual revenue, is expected to be based in Tampa, Fla., after the deal’s close, the people said.

 

Saint-Laurent, Quebec-based CAE expects the deal to be accretive to earnings per share and forecasts cost savings of roughly 35 million to 45 million Canadian dollars a year in the second year post-close, the people said. It is to be funded by a private placement of roughly C$700 million, equivalent to about US$549.4 million, from two institutional investors, they said. CAE has a market value of around C$9.5 billion. It has historically specialized in flight simulators and training devices and has been broadening its reach through several deals in recent months, though none anywhere near the size of the deal being discussed for the L3Harris unit. The Canadian company is a market leader in training pilots for commercial jetliners and makes flight simulators for the Boeing Co. BA -2.05% 737 MAX and other jets, which has left it hard hit by the Covid-19 pandemic-driven slump in global air travel.

 

CAE, which also produces health equipment such as ventilators, has looked to expand and improve margins at its defense business, hiring two senior executives from L3Harris. Melbourne, Fla.-based L3Harris, which has a market value of $38 billion, was formed by the 2019 merger of Harris Corp. and L3 Technologies Inc. It was at the time the largest-ever defense-industry merger, with a transaction value of more than $15 billion. It was eclipsed by the 2020 combination of Raytheon Co. and United Technologies Corp. RTX -1.81% to form Raytheon Technologies Corp. The defense industry’s outlook has improved during the pandemic, a reversal after years in which commercial-aerospace spending growth looked more promising. Companies with large portions of revenues dependent on commercial spending, including Boeing and its suppliers, have suffered as people sharply cut back on business and leisure travel.

 

The sale of the military-training business would take L3Harris most of the way to meeting its target of divesting itself of assets accounting for as much as 10% of sales and using all of the proceeds for share buybacks. It sold its airport-security unit for $1 billion to Leidos Holdings Inc. LDOS -0.76% last year, as well as some smaller businesses. L3Harris also has a division that trains jetliner pilots and builds flight simulators for the 737 MAX and other jets.

https://www.wsj.com/articles/cae-nears-deal-to-buy-l3harriss-military-training-business-11614553200

Anonymous ID: 11ede6 Feb. 28, 2021, 6:25 p.m. No.64149   🗄️.is đź”—kun   >>4165 >>4198 >>4238

Japan senior official central to son of Suga scandal resigns

 

A senior press official of Prime Minister Yoshihide Suga's Cabinet has resigned, the government said Monday, after she drew fire over an ethics scandal involving the premier's eldest son.

 

Cabinet Public Relations Secretary Makiko Yamada, who moderates Suga's news conferences, has been hospitalized, a government source said. The reason for her hospitalization remains unknown. She was due to appear in parliament to face questioning over the scandal later Monday. Chief Cabinet Secretary Katsunobu Kato said at the House of Representatives' Budget Committee the government accepted her letter of resignation after she reported on Sunday evening that she was unwell and could no longer fulfill her duties. Yamada came under criticism after she was found to have been treated to a dinner worth 74,000 yen ($700) in 2019 by Seigo Suga, who works for Tohokushinsha Film Corp. At the time, she was a senior bureaucrat at the Internal Affairs and Communications Ministry. The company runs a satellite broadcasting business, to which the ministry grants licenses.

 

The National Public Service Ethics Law prohibits central government officials from receiving favors from companies in sectors it regulates. Eleven officials of the communications ministry have been reprimanded after they were wined and dined by officials of the company, but Yamada escaped a reprimand as she has already left the ministry and the ethics code does not cover an individual granted special status to serve in a government post. Yamada has offered to forfeit 60 percent of her salary as a press official for one month, or approximately 700,000 yen, over the scandal, but opposition legislators have called for her resignation. Yamada became Japan's first female Cabinet public relations secretary under Suga and the first female executive secretary for a prime minister under his predecessor Shinzo Abe.

 

Tohokushinsha has subjected Seigo Suga to disciplinary action and dismissed him as head of the hobby and entertainment community operations at the firm's media business division. Tohokushinsha President Kiyotaka Ninomiya has also stepped down over the scandal.

https://asia.nikkei.com/Politics/Japan-senior-official-central-to-son-of-Suga-scandal-resigns