Tag: yahoo finance

SVB CEO, CFO resigned, company appointed turnaround expert as interim finance head

April 21 (Reuters) – SVB Financial Group’s CEO and chief financial officer resigned this week while the collapsed lender’s restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on Friday.

CEO Gregory Becker resigned on April 19, while finance chief Daniel Beck left the company on April 18, SVB said. The two top executives were sued in March by shareholders who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit “particularly susceptible” to a bank run.

The beleaguered company hired Alvarez & Marsal (A&M) as a restructuring advisor. The

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Zambia sent bondholders debt restructuring proposal, the finance ministry says

By Jorgelina do Rosario, Rodrigo Campos

FILE PHOTO: Zambia’s Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, US, October 15, 2022. REUTERS/James Lawler Duggan/File Photo

WASHINGTON/NEW YORK (Reuters) – Zambia last week gave its bondholders a “concrete proposal” for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday.

“We continue to engage actively with our bondholders and proposals are being exchanged,” the ministry told Reuters in a statement.

The proposal “represents our commitment to finding a resolution that is acceptable to

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Canada Life purchases wealth manager IPC from sister company IGM Financial

Canada Life Assurance Co. – a subsidiary of Great-West Life – will purchase Investment Planning Counsel for $575-million in an all-cash deal from its sister company IGM Financial.

IGM Financial Inc. IGM-T and Great-West Lifeco Inc. GWO-T have struck a deal that will see independent wealth manager Investment Planning Counsel Inc. change hands while IGM snaps up a 20.5-per-cent stake in US giant Rockefeller Capital Management.

The deal, which was announced on Monday, will see Canada Life Assurance Co. – a subsidiary of Great-West Life – purchase Investment Planning Counsel for $575-million in an all-cash deal from its sister company

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You’re Right, It Is Very Expensive to Finance a Car These Days

  • Average new-car prices aren’t getting any more reasonable, and if you’re someone who finances their vehicle, you’re probably wondering where all the money’s going.
  • The average APR for new vehicles financed in March was 7 percent, helping create a market where the average payment for a new car is, gulp, $730.
  • That’s bad, but the number of people paying over $1000 is also on the rise. In Wyoming, more than 25 percent of car shoppers who finance have high payments. Sorry, truck shoppers.

The average price of a new car in the US has been climbing, again, and at least

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Is Banco Do Brasil (BDORY) Stock Outpacing Its Finance Peers This Year?

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Banco Do Brasil SA (BDORY) one of those stocks right now? A quick glance at the company’s year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.

Banco Do Brasil SA is one of 866 companies in the Finance group. The Finance group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank

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Time to deal with the ‘nastiest, hardest problem in finance’

The UK government’s decision last week to push down the age at which workers can automatically be enrolled in a company pension scheme was widely praised. This is great news — given the power of compounding on long-term savings, the earlier people get going, the better.

But with that decision out of the way it is time for the government to look at the other end of the pensions market and tackle what Nobel Prize-winning economist William Sharpe has called the “nastiest, hardest problem in finance” — the question of decumulation , or how to plan savings and spending in

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PayPal Loses CFO Blake Jorgensen, Gabrielle Rabinovitch To Continue As Acting Finance Chief

  • On March 7, 2023, PayPal Holdings, Inc (NASDAQ: PYPL) said CFO Blake Jorgensen would immediately step down.

  • Jorgensen will remain as a senior advisor through September 15, 2023.

  • Jorgensen’s decision does not reflect any dispute or disagreement with the Company.

  • Gabrielle Rabinovitch will continue to serve as acting CFO.

  • The departure followed a leave of absence for health reasons amid a shuffle of upper management at the online-payments platform, Bloomberg reports.

  • In February, CEO Dan Schulman shared plans to retire from PayPal on December 31, 2023. The Board will retain a search firm to help find Schulman’s successor.

  • In February,

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Consumers keep feeling better about today and worse about tomorrow: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 am ET. Subscribe

Wednesday, March 1, 2023

Today’s newsletter is by Myles Udland, Head of News at Yahoo Finance. Follow him on Twitter @MylesUdland and on LinkedIn. Read this and more market news on the go with the Yahoo Finance App.

US consumers and the executives that Goldman Sachs (GS) CEO David Solomon talk to have a lot in common — they feel good about today and worse about tomorrow.

New data out from

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