Financial affairs – Scottish Ultramarathon Series Fri, 28 May 2021 04:07:54 +0000 en-US hourly 1 Financial affairs – Scottish Ultramarathon Series 32 32 4 tips for getting the best deal on a used car Wed, 07 Apr 2021 23:16:13 +0000

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I started my career writing about personal finance in an unlikely place: the marketing department of a car dealership.

In this job, I learned what not to do when buying a car, getting a car loan, and negotiating. I learned where the dealerships make their money and how they price their cars, and it gave me the opportunity to help people save money.

Here is the advice I would give to anyone looking for a used car for the first time.

1. Determine Your Budget Before You Even Start Looking At Cars

Just like buying a home, shopping is always the funniest part. But I strongly encourage everyone to sit down with a calculator and look at the numbers first. Decide how much you can afford before you watch.

There is a simple formula for this, according to Mark Reyes, a financial planner at Albert Finance app. “We usually say keep the total price of the car below 30% to 35% of your annual income. For someone who earns $ 50,000 a year, that total price should not exceed $ 17,500,” he said. he told Insider. “When it comes to monthly payments, try not to exceed 10% of your monthly income.”

Using these numbers as a guide, you can start shopping on a practical level, instead of focusing on a car you can’t afford.

2. Don’t get sucked into buying a new car

I am not a fan of buying new cars. They depreciate quickly and can cost more to insure. As the first car, it is not the most practical. They’re less likely to fit your budget, and while it might sound like a good idea, a new car really won’t be much better.

Used cars are absolutely fine, and often a much better deal. Chances are, you’ll find a car that’s a year or two old that is as good as new. Sometimes there is little or no difference between the last model year and the previous one. While the differences between model years really depend on the car you’re interested in, the damping factor will be consistent.

When I worked at a dealership, the best deals I often saw in the field were Certified Used Cars and Lease Swaps. Lease swaps often do a lot because the previous owner was bound by the lease to take care of them inside, out and under the hood. Often times, the result is often a well-maintained, low-mileage used car.

Even if you sometimes save on financing with a new car (used cars have interest rate a percentage point or two less than used), the amount you’ll save on a used car will likely make up for it.

3. Enter the dealership with your own financing and insurance

Financing and insurance are a great way dealers make money. Bringing your own insurance and financing can be an easy way to make sure you don’t pay more.

Car dealerships tend to add markups to financing, which increases the interest rate offered to you. Instead of relying on dealer financing, shop around with lenders, banks and

credit unions
you work with. Get offers and compare them, paying attention to the interest rate and the length of the loan. Then you will have a better idea of ​​the interest rates you are entitled to.

The same goes for car insurance – if you take out insurance from the dealership, this may incur an additional cost. Make yours shopping to see what you qualify for. Get quotes to several auto insurers in your region for the car you plan to buy and compare the types of coverage, limits and costs.

4. If this is your first car, buy auto insurance again after six months.

If you are buying your first car, you will want to buy insurance again after a few months, whether you ultimately have a new or used car.

In addition to your driving record, type of car, and where you live, among other factors, the length of your coverage is also a factor in how much you’ll pay.

car insurance

After six months or more of continuous coverage, your costs could go down. Repeat the process you used to purchase your first insurance policy after a few months, and you might find a lower pricee later. This can be especially useful for new drivers who may have a high insurance price to start with.

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Institutions Compete to Offer Loans to TN, Says O Panneerselvam | Chennai News Wed, 07 Apr 2021 23:16:13 +0000

O Panneerselvam

CHENNAI: Rebuffing charges concerning the increase in the outstanding debt of the State, Deputy Chief Minister O Panneerselvam Saturday, told the assembly that external funding institutions such as the world Bank and the Asian Development Bank competed for offer loans to the State, relying on its repayment capacity.

In response to the general discussion on interim budget, Panneerselvam said that external agencies provide loans to implement development projects, as this will increase state tax revenue and help the government repay loans. “We are not using the loan for extravagant purposes,” he said.
The state had seen an increase in the GSDP, from Rs 5.19 lakh crore in 2010-11 to Rs 19.43 lakh crore in 2020-2021. As a result, the ability to repay loans was also increasing. Panneerselvam urged the opposition not to resort to bogus propaganda for political gain by citing increasing borrowing. Some have borrowed more than 10% of their GDP. But TN, with permission from the Center, only borrowed 2% from the GSDP, he said.
The assembly on Saturday adopted the bill on account voting allowing the state to withdraw money from the consolidated fund for the first six months of the following fiscal year.

The federal tax identification number, known as the Employer Identification Number in English, is the identification number of your business in the Internal Revenue Service (IRS). Just as your Social Security number allows you to declare taxes and create personal credit, the EIN has the same function for your business.

Having a bank account exclusively for your business is extremely important because it is the easiest way for lenders to see your cash flow.  In order for you to proceed, start your process here.

The credit bureaus will also be able to see how you manage your finances and use that information to determine your credit score. A bank account with several years of existence also gives lenders even more security.

Sellers can also report to the credit bureaus, especially when they allow you to paydays or months after the transaction is made. You only have to investigate with the same sellers if they report or not and try to always get the inventory you need from those companies because it is of great benefit for your credit record. Just as you would do if it were a credit account, do not forget to pay on time or before so that it reflects that you are a good customer.

The company Dun & Bradstreet is the most used credit agency by sellers and lenders, but you have to apply to be able to open a credit file with this company. The DUNS system is an identification process for businesses. When you apply, you receive a 9-digit identification number (DUNS number). The process is completely free but can last up to 30 days. It is not a requirement to be registered in this agency, but the credit ratings of this agency are used in the whole country and even internationally.

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Is United Wholesale Mortgage’s ultimatum legal? Wed, 07 Apr 2021 23:16:13 +0000

The views expressed below are those of Derek F. Dahlgren and do not necessarily reflect the views of MPA or its editorial team.

The mortgage industry has seen a wave of dramatic activity this year. He has extended in many ways, while other sectors of the economy are lagging behind. However, not all types of mortgage companies have seen the even growth.

For wholesale lenders like United Wholesale Mortgage (“UWM”), the boom in refinancing and sales was particularly good to wholesale lenders. They were quickly to win market share and surpass traditional retail lenders, such as banks like JPMorgan Chase.

Faced with this market rise and the switch to wholesale credit, a recent video posted on Facebook makes you wonder if a major lender is playing fair with its competition. On March 4, 2021, UWM CEO Mat Ishbia issued an unusual ultimatum to wholesale brokers: Choose UWM or two of its main competitors, Rocket Companies, Inc. (“Rocket”) and Fairway Independent Mortgage Corporation (“ Fairway”).

For the background on how the wholesale loan market may be affected, Rocket native around $ 320 billion in mortgages in 2020, of which about a third were wholesale loans. Returned of wholesaling also accounted for 61% and 76% of Rocket’s total revenue in 2019 and 2020, respectively. Ishbia even recognized it says, “If you look at the growth of Quicken and Rocket since 2016, it’s almost exclusively in the partner network, that’s what they call, but it’s the brokerage channel, the wholesale business. They’ve been flat on retail, but very big on wholesale. ”

UWM, the major wholesale lender, came in about $ 182 billion last year, all from independent brokers. He complaints that “As the largest wholesale lender in the country, the numbers two, three, four, five, and six don’t even equal our 33% market share.” UWM further complaints “This year, we are at 33% now. We’ll finish at 35% this year at 40% and beyond in the next couple of years, and here’s how. 59,000 loan officers are licensed and set up to send a loan to UWM today. »A look at 2019 The data, UWM followed only Rocket in total lending volume for all mortgages, overtaking Wells Fargo and JPMorgan Chase, respectively third and fourth overall lender in lending volume. Fairway was the fifth primary lender by loan volume.

In short, we have the second largest lender by volume trying to keep its broker clients from doing business with two of its biggest competitors. This begs the question, will the UWM ultimatum hurt competition? To some extent, video posting can answer this question. In this one, Ishbia said “Options are essential” for brokers. Notably, Austin Niemiec, vice president of Rocket Pro TPO, replied by stating that “a broker’s competitive advantage is choice”.

The distinction between options and choices may be fine, but it seems appropriate here. The options are things, while the choices are the decisions. Ishbia tells the brokers that UWM will have a lot of different products for you, but you can’t freely choose who to work with. Surprisingly, in the same video he said that “we will not try to be the best price, we will try to be very consistent.” It comes shortly after SEC filings in January in which UWM said “So when you got faster, easier, cheaper, Mat, what have we got? We have more satisfied customers. But UWM is also enforcing its ultimatum with significant penalties. The addendum that brokers are required to sign has a penalty provision that requires them to Pay between $ 5,000 and $ 50,000. It remains to be seen how happy these customers will remain.

This also comes shortly after UWM Free praise for Rocket, but also hinted at growing competition. Despite this, he repeatedly referred to brokers and consumers who may benefit from the Rocket option (this is apparently no longer true):

Every lender is different. If you go to a broker, you have access to a lender like UWM, our rates, our fees, our services, but we might not be the perfect fit because we might not do so little credit so you can go to Rocket or Quicken. Or maybe it’s not an ideal solution, then the broker can bring them to Flagstar or whoever. There are options. Borrowers who go to a broker have options, are more likely to get approved because there are three or four lenders considering it, rather than just one, and they are competing for the business. This is why the rates are always lower wholesale. And so, that’s a big deal and we think what’s best for the consumer is where you want to put your focus and effort, and that’s why we put everything on the wholesale channel.

So, is this anti-competitive? This is where it gets complicated. In antitrust law, the details matter. Antitrust laws, such as Section 1 of the Sherman Act, generally aim to prohibit undue restrictions on trade. In this case, we have a vertical restriction on trade (for example, between a wholesale lender and brokers) rather than a horizontal restriction (for example, an agreement between two competitors). It is also a multi-sided platform because, for each loan, there is a transaction between the lender and the broker, as well as between the broker and the consumer. In addition, there are secondary market effects to consider, such as selling the insider loans in the secondary market and providing payment protection insurance, among others. In this situation, it is all evaluated under the “result of reason”.

The rule of reason requires a court to perform a factual analysis of market power and market structure to determine the effect on competition. It is about distinguishing between anti-competitive agreements that help consumers and those that would harm them, the latter being illegal. In doing so, the court may weigh the anti-competitive effects of the agreement against any pro-competitive effects. This is why the details are important.

In this situation, there is anti-competitive behavior limiting the choice of a broker to work with, coming from a wholesale lender with up to 40% market share. Brokers will certainly have fewer options in terms of lenders. Indeed, Rocket has declared that it will invest $ 100 million in its broker network and in January launched a new national mortgage directory with 43,000 different loan offers it works with. UWM’s ultimatum will ensure that these innovations will no longer be options for some brokers who choose to work with UWM instead.

Overall, the precise market effects are beyond the scope of this analysis. For example, UWM makes a large part of the roughly 75 other lenders that it allows its brokers to work with, but it is unclear whether their combined market share is large enough for healthy competition to remain. However, the fact that UWM is targeting two of its biggest rivals, that these two rivals are gaining market share, and that the rivals are investing substantial resources in the broker channel, suggests, at a minimum, that this developing situation deserves more. review and follow-up.

Derek F. Dahlgren is a partner at Devlin Law Firm LLC. The opinions expressed are those of the author and do not necessarily reflect the views of the firm or its clients.

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Mortgage Refinance Rate Today – April 7, 2021: Rates Go Down Slightly Wed, 07 Apr 2021 23:16:13 +0000

Here’s what the current refinance rates look like. Are you ready to get a new mortgage?

Mortgage refinance rates have come down a bit overnight. While the refinance rates tend to be a bit higher than the rates you’ll see for a new purchase mortgage, they are still fairly competitive, even though they have climbed in the last couple of months. Here’s what the rates look like on April 7:

The data source: The Ascent National Mortgage Interest Rate Tracker.

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30-year mortgage refinancing rate

The 30-year average refinancing rate today stands at 3.424%, down 0.011% from yesterday. At the current rate, you will pay principal and interest of $ 445.00 for every $ 100,000 borrowed. This does not include additional expenses like property taxes and home insurance premiums.

20-year mortgage refinancing rate

The 20-year average refinancing rate today stands at 3.144%, down 0.004% from yesterday. At the current rate, you will pay principal and interest of $ 562.00 for every $ 100,000 borrowed. Although your monthly payment increases by $ 117.00 with a 20 year loan and $ 100,000 compared to a 30 year loan of the same amount, you will save $ 25,212.00 in interest over your repayment period for every 100,000 $ borrowed.

15-year mortgage refinancing rate

The 15-year average refinancing rate today is 2.696%, down 0.003% from yesterday. At the current rate, you will pay principal and interest of $ 676.00 for every $ 100,000 borrowed. Compared to the 30-year loan, your monthly payment will be $ 231.00 higher for every $ 100,000 of mortgage principal. However, your interest savings will amount to $ 38,329.00 over the duration of your repayment period per $ 100,000 of mortgage debt.

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Should You Refinance Your Mortgage Now?

Refinancing your mortgage can be a smart financial move if you are able to lower your interest rate and lower your monthly payments with a new home loan. However, there are a few important things to consider before refinancing.

First, if you extend the repayment term on your loan, you could end up paying a higher total interest amount over time than with your current mortgage. This can happen even if you qualify for a lower interest rate because you will be paying interest over a longer period. You can avoid this by choosing a refinance loan with a shorter repayment term. Or you may decide that you are willing to pay more interest over the life of your loan in exchange for a lower monthly payment.

Second, you will need to factor in closing costs, which are the upfront costs that you will be charged when you refinance a mortgage. Ascent’s research found that the closing costs for a refinance loan for a mid-value home totaled between $ 5,000 and $ 12,500. However, your closing costs will depend on your specific mortgage amount, location, and lender.

You might have to offset those closing costs due to your lower monthly payments – but it can take time. If you save $ 200 per month by refinancing and pay $ 6,000 in closing costs, it would take 2.5 years to break even. It’s important to run the numbers and determine if you’ll be staying in your home long enough for the refinancing to pay off.

Generally speaking, refinancing can make a lot of sense if you don’t plan to move in the next few years and are able to reduce your mortgage interest rate by at least 1% ( or at a nearby location). You may have noticed that refinance rates are higher than they were at the start of the year, but that doesn’t mean current rates aren’t competitive on their own. And while there’s a good chance they’ll stay low for the rest of the year, we can’t know for sure. As such, you may want to consider refinancing as soon as possible.

If you are interested in getting a new home loan, contact a few mortgage refinance lenders so you can compare the offers you receive. Examining the different options might help you come away with a better deal.

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Opportunities in Indonesia’s FinTech Sector Wed, 07 Apr 2021 23:16:13 +0000
  • Indonesia’s FinTech industry is one of the most competitive and dynamic in ASEAN, as evidenced by the emergence of four unicorns and one decacorn in the industry.
  • The fintech industry is one of the most funded sectors and is dominated by peer-to-peer (P2P) electronic lending and payment platforms.

Indonesia’s FinTech industry is one of the most competitive and dynamic in ASEAN, as evidenced by the emergence of four unicorns and one decacorn in the industry. The country is home to 20% of all fintech firms in the Southeast Asian bloc, which are expected to generate $ 8.6 billion in revenue over the next five years, despite its infancy.

The fintech industry is one of the most funded sectors – along with e-commerce – and is dominated by peer-to-peer (P2P) lending (50%) and electronic payment (23%) platforms. ). Although more than 300 fintech companies operate in Indonesia, foreign investors will find that the industry has yet to reach its potential. One factor is that 60 percent of the country’s workforce is in the informal sector and that many micro, small and medium-sized enterprises (MSMEs) have little access to finance from banks, as they operate themselves. also mainly in the informal sector. .

P2P loan

Many local MSMEs have business models that are not compatible with the characteristics of banks’ financial products. This includes aspects such as loan program payment terms, forms of collateral, and credit quality, among others.

Foreign fintech companies can bridge this gap with new financing models that can serve Indonesia’s 47 million underbanked adults and 92 million unbanked adults. In 2020, P2P loans reached US $ 7.7 billion from 160 FinTech companies officially listed by the Financial Services Authority (OJK). This covered over 26 million borrowers across the country.

These microloans are popular due to their convenience as it normally only takes 24 hours for funds to be disbursed, and the terms and term are small and short – borrowers typically receive no more than $ 100. These are normally returned within a few weeks as there are often huge interest charges.

Electronic wallets

Electronic money transactions grew 173% in 2020 and have become indispensable for Indonesian consumers. The country is expected to be the next battleground for digital payment applications, with Indonesia possessing many key characteristics essential for the adoption of digital payment systems.

Some 196 million people have access to the Internet and the smartphone penetration rate is 60%; above 51 percent of the ASEAN region. In addition, the middle class now comprises 20% of the population, a key segment of the growth of the digital economy.

Local players still dominate the market (over 30), and GoPay, OVO, Dana and LinkAja are among the pioneers in the industry. 58% of consumers have used GoPay, an electronic wallet developed by Decacorn Gojek. The company has partnered with Bank Jago to expand its e-wallet services, which recorded a gross transaction value of $ 12 billion in 2020. GoJek has raised $ 1.2 billion in funds to tackle his rival Grab. It is also currently in talks with local e-commerce giant Tokopedia over a possible US $ 18 billion merger.

Grab also has ambitious plans for Indonesia and the region. It owns shares in the Indonesian digital payment platform OVO and is used in more than 115 million devices in more than 300 cities. OVO plans to merge with another local digital payment platform, DANA, backed by Ant Financial. If done, the deal would help Grab in its battle for market share with Gojek.

Since loosening investment rules in 2016, foreign investors from SoftBank to Alibaba have entered the Indonesian domestic market and compete with local companies like Tokopedia, providing consumers with a wider variety of services to competitive prices.

For foreign investors in the e-wallet industry, it is essential that they deliver a customer-centric experience to enable customers to pay with the local payment method of their choice, ranging from mobile banking to payments via convenience stores. Indeed, if Indonesia has a high penetration rate of smartphones, a significant part of its population is unbanked.

Largest e-wallet apps in Indonesia based on total number of downloads

Cloud technology and big data analytics

Indonesia is embracing high-speed, large-scale cloud technology and has attracted investment from the world’s biggest tech companies. In a report compiled by the Boston Consulting Group, the public cloud market in Indonesia is expected to experience a compound annual growth rate of 25% – reaching US $ 800 million by 2023. The growing number of digital natives and the Expansion of digital unicorns is changing rapidly Indonesia is emerging as one of the fastest growing public cloud markets in Asia-Pacific.

Alibaba gained a first-mover advantage over rivals Google, Amazon Web Services (AWS) and Microsoft, launched its second hyperscale data center in January 2019. Google Cloud launched in Jakarta in June 2020, and AWS will invest 2, US $ 85 billion to build data centers in the Indonesian province of West Java by the end of 2021. Microsoft revealed in early February 2020 that it plans to build data centers in the country as well.

Managing big data will be key to maximizing the future of Indonesia’s cloud technology industry. Big data will be of great importance in understanding consumer trends in the country, especially in registering digital footprints through social media platforms. Many MSMEs use Facebook and Instagram to reach their consumer base. These platforms have 140 million and 77 million users respectively as of 2020. It is estimated that the total number of social network users will reach 256 million by 2025.

About Us

The ASEAN Briefing is produced by Dezan Shira and associates. The company assists foreign investors throughout Asia and has offices throughout ASEAN, including Singapore, Hanoi, Ho Chi Minh City, and Da Nang In Vietnam, Munich, and Esen in Germany, Boston, and Salt lake city in the USA, Milan, Conegliano, and Udine in Italy, in addition to Jakarta, and Batam in Indonesia. We also have partner companies in Malaysia, Bangladesh, the Philippines, and Thailand as well as our practices in China and India. Please contact us at or visit our website at

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Sequans announces $ 50 million financing to strengthen its balance sheet Wed, 07 Apr 2021 23:16:13 +0000

PARIS–() – Sequans Communications SA (NYSE: SQNS), a leading developer and provider of 5G and 4G solutions for high-speed, critical and massive IoT, today announced the signing of a $ 50 million private financing with Lynrock Lake Master Fund LP, a fund managed by Lynrock Lake LP (“Lynrock Lake”), an investment management company with approximately $ 1.2 billion in assets under management. The funding consists of $ 10 million in American Depository Shares (ADS) and $ 40 million in convertible debt capital. Funding is expected to close on April 9, 2021.

“A stronger balance sheet improves Sequans’ position as we accelerate our Massive IoT business and engage with potential strategic partners interested in our 5G technology. The increase in cash on our balance sheet also provides the Company with additional working capital to manage the continuous component and dynamics of the supply chain, ”said Georges Karam, CEO of Sequans. “We are delighted to secure this financing with Lynrock Lake, an existing shareholder of Sequans. Lynrock Lake’s long-term value-driven investment strategy and semiconductor industry experience align with our goals of maximizing opportunities in massive 5G / 4G IoT and broadband IoT and improve long-term shareholder value. ”

“Sequans is pursuing an aggressive 5G product roadmap for broadband and critical IoT, partially funded by strategic partners and investments from the French government,” said Cynthia Paul, chief investment officer of Lynrock Lake. “We are delighted to partner with Sequans to strengthen their capital structure and improve their strategic positioning as they engage with new and existing partners and suppliers.”

The $ 50 million financing includes the sale of $ 10 million of ADS at a price of $ 5.50 by ADS and $ 40 million of convertible debt that converts to the Company’s ADS at a conversion price of 7.66 $. Convertible debt matures in three years and pays interest annually at an interest rate of 5.0625% for cash payments or 6% for payments in kind (PIK).

Sequans retains an option to call convertible debt under certain circumstances after 12 months, in whole or in part, subject to a 9.9% ownership limit for Lynrock Lake. Lynrock Lake did not request a seat on the board.

The main use of the proceeds will be the repayment of $ 11.7 million of convertible debt and accrued interest due on April 14, 2021, if not converted, and the prepayment of € 6 million (7 million dollars) of debt in euros. The remaining proceeds will be used for general corporate purposes.

Forward-looking statements

This press release contains forward-looking statements regarding the expected timing of the closing of the transaction and the use of the proceeds. All statements other than actual and historical facts and conditions contained in this release, including statements regarding business strategy and plans, expectations for IoT massive sales and our goals for future operations, are forward-looking statements. (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only forecasts and reflect our current beliefs and expectations with respect to future events and are based on assumptions and are subject to risks and uncertainties and are subject to change at any time. We assume no obligation to update the information contained in this press release in the event that facts or circumstances subsequently change after the date of this press release. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. In view of these risks and uncertainties, you should not place undue reliance or reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. In addition to the risk factors contained in our Form 20-F for the year ended December 31, 2020, some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, but are not limited to : (i) contraction or lack of growth in the markets in which we compete and in which our products are sold, (ii) unexpected increases in our expenses, including manufacturing expenses, (iii) our inability to adjust expenses quickly enough to compensate for any unforeseen shortfall, (iv) delays or cancellations of expenses from our customers, (v) unforeseen average selling price reductions, (vi) the significant fluctuation at which our revenues quarterly and our operating results are submitted due to cyclicality in the wireless communications industry and transitions to new process technologies us, (vii) our inability to anticipate future market demands and the future needs of our customers, (viii) our inability to achieve further design gains or design wins to result in shipments of our products at levels and within the timelines we currently anticipate, (ix) our inability to enter into and execute strategic alliances, (x) our ability to meet performance milestones under strategic licensing agreements, (xi) the impact natural disasters on our supply operations and supply chain, (xii) our ability to remedy material weaknesses in our internal controls relating to accounting controls and the reporting of complex, unusual and certain other transactions , including certain income provisions, (xiii) the impact of the coronavirus on the ability to operate our business and the research, production of e our products or demand for our products by customers whose supply chain is affected or whose operations have been affected by government shelter-in-place or similar orders, (xiv) the impact of the coronavirus on markets financial and our ability to raise debt and equity financing, and (xv) other factors detailed in documents that we from time to time submit to the Securities and Exchange Commission.

About Sequans

Sequans Communications SA (NYSE: SQNS) is a leading developer and supplier of 5G and 4G chips and modules for massive, broadband and mission critical IoT. For massive 5G / 4G IoT applications, Sequans offers a comprehensive product portfolio based on its flagship Monarch LTE-M / NB-IoT and Calliope Cat 1 chip platforms, with advanced low power consumption, wide built-in feature set and deployment capability. For high-speed 5G / 4G and critical IoT applications, Sequans offers a portfolio of products based on its Cassiopeia Cat 4 / Cat 6 4G and high-end Taurus 5G chip platforms, optimized for residential, enterprise and industrial at low cost. Founded in 2003, Sequans is headquartered in Paris, France, with additional offices in the US, UK, Finland, Israel, Hong Kong, Singapore, Taiwan, South Korea and China . Visit Sequans online at .

]]> 0 The rise of the capital places Air France under the wing of the government Wed, 07 Apr 2021 23:16:13 +0000

PARIS (Reuters) – France to contribute € 4 billion ($ 4.7 billion) recapitalization of Air France-KLM and more than double its nearly 30% stake, under announced plans Tuesday with the approval of the European Union.

The move is the latest by a large airline group to consolidate its finances after more than a year of COVID-19 travel closures and heavy losses to the industry.

The French government will convert a € 3 billion loan granted last year into a perpetual hybrid bond instrument and subscribe to a € 1 billion share issue, increasing its stake in Air France-KLM by 14, 3% currently.

“This will make the State the largest shareholder of Air France,” said Finance Minister Bruno Le Maire, qualifying this approach as “a sign of commitment” to the airline and its workers.

The agreed conditions oblige France to find a “credible exit strategy” within a year and to bring its participation back to pre-crisis levels by 2027. Dividends, share buybacks and management bonuses are prohibited until most or all of the aid has been repaid.

Under the approved conditions, Air France will also cede 18 Paris-Orly take-off and landing slots to its competitors, or 4% of its current portfolio at the airport.

But breaking with the usual practice which can anger low-cost competitors such as Ryanair, their reallocation will be limited to rival planes based in Orly with crews employed on local contracts.

This will shield from unfair competition a planned expansion of Air France’s own low-cost airline, Transavia, Ben Smith, CEO of Air France-KLM, told reporters on Tuesday.

The restrictions on the reallocation of slots have been “one of the sticking points” in the endless talks with Brussels, Le Maire said. “We don’t want any social dumping.”

FILE PHOTO: The Airbus A350, Air France’s first airliner, prepares for take off after a ceremony at the aircraft manufacturer’s headquarters in Colomiers near Toulouse, France, September 27, 2019. REUTERS / Regis Duvignau

Ryanair did not immediately respond to a request for comment.

Other measures include the extension of state guarantees on € 4 billion of bank loans to Air France-KLM.

Deutsche Bank, HSBC and Natixis are advising the airline on its refinancing.

The bailout is the closest a major European carrier has come to re-nationalization, after Germany took a 16.7% stake in Lufthansa as part of its bailout.

The Netherlands, which bought 14% of Air France-KLM in 2019 to counter French influence, will not join the rise in capital – breaking a governance deadlock within the group while potentially increasing pressures of rupture of certain Dutch political circles.

The likely dilution of the Dutch government’s stake to 9.3% “has no consequences for the protection of public interests,” Dutch Finance Minister Wopke Hoekstra told lawmakers on Tuesday.

The Dutch authorities are in separate talks with Brussels on further support to KLM that could lead to a similar conversion of the state’s billion euro loan into hybrid debt.

Delta Air Lines, an 8.8% shareholder in Air France-KLM, does not have the right to invest under US federal aid rules and will be diluted. China Eastern plans to acquire new shares while keeping its stake below 10%, the group said.

Air France-KLM shares were up 0.3% to 5.26 euros at 9:18 a.m. GMT. The stock is down nearly 50% from pre-pandemic levels, partly reflecting the likelihood of further dilutive capital increases.

The group said it would seek shareholder approval next month for “additional measures” to strengthen the balance sheet and reduce net debt to a target of twice earnings before interest, depreciation, amortization, taxes and depreciation (EBIDTA) by 2023.

By updating its forecasts, Air France-KLM has indicated that it expects an EBITDA loss of 750 million euros for the first quarter, against a 1.7 billion euros deficit for the whole of 2020. The results January-February were better than expected and investments 10% lower on budget, he added.

The group said it “still expects a significant upturn in demand” as COVID-19 vaccination campaigns allow summer travel to resume in the coming months.

(1 USD = 0.8467 euros)

Reporting by Laurence Frost and Dominique Vidalon Additional reporting by Toby Sterling in Amsterdam and Foo Yun Chee in Brussels Editing by David Goodman and Mark Potter

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Hundreds of Wisconsin Consumers Complain of Credit Report Errors Wed, 07 Apr 2021 23:16:13 +0000

MADISON, Wisconsin (WMTV) – A less than perfect credit report can cost you money. Since the pandemic, more and more people have focused on their reports when making financial plans. NBC15’s national investigation team found that the number of reported disputes has doubled since the start of the pandemic.

NBC15 Investigates examined the impact of this issue on the people of Wisconsin. In the past 12 months, nearly 600 Wisconsin consumers have complained about incorrect information on their credit report. This is according to data from the Federal Trade Commission.

Officials from the Wisconsin Department of Agriculture, Commerce, and Consumer Protection say this was a problem before the pandemic, referring to a 2015 national settlement involving credit bureaus.

If you’re trying to clarify your credit report, local consumer experts say the best advice is to keep good records and be patient.

Sarah Orr, director of the Consumer Law Clinic at UW Law School, says you must dispute the incorrect information and if your dispute is dismissed too soon, request another investigation. Correcting mistakes is important because your report impacts your loans and interest rates.

“People really take charge of their credit reports, so it may seem like a long time before something gets resolved, but they just have to hang on to it,” Orr said.

You have the right to dispute inaccurate information on the credit report free of charge.

For more information on how best to proceed, consumers can visit the Consumer Financial Protection Bureau (CFPB). website.

Copyright 2021 WMTV. All rights reserved.

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Here’s how to stop communication incivility in your workplace Wed, 07 Apr 2021 23:16:13 +0000

By Dianna Booher

In addition to unrest in the streets, incivility all too often arises in the workplace. Many offer reasons for the mundane rudeness: pent-up anger over job losses, survivor guilt, COVID fear, financial loss, a volatile 401K or IRA, and the list goes on.

Whatever the cost, the cure can be painless.

Perhaps you’ve experienced some recent rudeness:

  • Curt responses from help center agents
  • Abrupt responses from customers calling help centers (“I’ve been on hold for 50 minutes listening to your call-is-important-to-us messages, and now you’re telling me there’s no solution! # $% &% “)
  • Late arrivals to meetings – virtual or live (“Stuck in traffic” can’t be an excuse for ZOOM.)
  • People eat and drink in a virtual meeting or on the phone
  • People who enter your space, “up close and personal” to speak without masks
  • People who try to ‘outdo’ your stories or expertise
  • People who simply don’t respond to coworker emails
  • Explanatory on your publications on social networks
  • Confrontational and intimidating remarks to other commenters on your social media posts
  • Spam calls
  • Hitting Your Inbox With Offensive Jokes And Stories

Here are some solutions to the rampant rudeness:

Fight against incivility with your communication style

Focus on the goal, not your feelings

When treated rudely, your first reaction is likely an emotional response. If you communicate in this state of mind, things will only escalate into the typical dead end. So stay calm and stay focused on the goal: a solution to your problem or an answer to your question. A useful meeting discussion. An insightful post on social media. Or a quick trip to the store.

Offer empathy

Several years ago, I saw a famous speaker quickly calm a crowd of angry and rude conference attendees. The promoter of the event had somehow oversold 1,000 seats, mistakenly selling duplicate tickets for over 1,000 seats.

So when these people arrived, walked to the auditorium balcony and found someone else sitting in their assigned place, they were upset. As people continued to gather and moan, the event host repeatedly announced that the event was mistakenly oversold and that they would open up additional areas to accommodate the overflow and unexpected crowds. .

The growls and clashes continued.

Then a new voice came over the broadcast system – this time it was the famous speaker who had stepped onto the podium in her wheelchair. Paralyzed at the age of 19 after a swimming accident, Joni was there to talk about resilience and faith.

Out of the blue, Joni started, “May I have your attention for a second?” I know some of you are upset to learn of the mistake and have had to take your place elsewhere. You are not sitting where you expected. . . . I too find that I am not sitting where I expected to be today.

The whispers became noticeably calmer and more respectful. The prospect pays.

Model the communication you want

Ask questions to get the facts of a situation. Provide the appropriate details so that the other person can clearly understand what happened. Keep focusing on the resolution: One-off meetings. Open discussion on an issue with input from the whole focus group. Respect of the deadline of a project. Reasonable expenses.

After you respond empathetically to the other person, stay focused on finding the facts and finding a solution to the problem.

Clearly state the next steps

Do not threaten, especially with threats that you cannot or do not intend to execute. Rather, be clear about what your next steps will be if you can’t come to an agreement.

An example: “Let’s keep hearing others talk about problem X. If we can’t come to an agreement on whether or not to accept this offer, I will email Cari asking her to make the decision.” -even. It is not a threat; it is a statement of conditions and next actions.

Document an incident

If incivility seems to be increasing rather than decreasing, document what happened – the who, what, when, why and how of the situation. Never trust your memory. Contemporary notes carry weight, even in the courtroom.

While these strategies will not entirely rid the world of rudeness, they will contribute to calmer reactions and faster, more appropriate resolutions.

Dianna Booher is the bestselling author of 48 books, including Communicate like a leader. It helps organizations communicate clearly. Follow her on and @DiannaBooher.

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SBI maintains status quo on Reliance Communications loans – The New Indian Express Wed, 07 Apr 2021 23:16:13 +0000

Through Express press service

NEW DELHI: The Delhi High Court on Wednesday ordered the State Bank of India (SBI) and banking regulator Reserve Bank of India (RBI) to maintain the status quo with regard to Reliance Communications (Rcom) accounts owned by Anil Ambani, Reliance Telecom, and Reliance Infratel, which have been classified as “fraudulent” accounts by the state lender.

The court passed the order upon hearing a petition from former Reliance Communications director Punit Garg, who challenged the 2016 central bank circular regarding reporting the accounts as fraud. Garg argued that the circular violates the principles of natural justice without giving the parties an opportunity to be heard. The bank, meanwhile, said its audit division found evidence of embezzlement and other irregularities.

In view of the orders made earlier by the High Court in similar cases, Judge Prateek Jalan ordered the State Bank of India to “maintain the status quo until the next court date” in this regard. which concerns the accounts of the three companies. The court added that SBI and RBI were free to take any measures of an investigative or complaint-making nature, or similar proceedings against the former directors and the three companies, regardless of the contested action of disclosure of the accounts of the society. three companies as fraud accounts.

This could open up the possibility of a CBI investigation since the rules require banks to file a complaint with the Central Bureau of Investigation if the amount involved in the fraud is more than Rs 1 crore. The court further stated that the Respondents, including the RBI and the three companies in the Anil Ambani group, were free to file their responses to the motion by January 11 and listed the case for hearing on January 13.

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