Financing Archives - Zxcoachoutlet

HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

October 9, 2020

By Lawrence White, Sinead Cruise and Simon Jessop

logo: FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S.

© Reuters/BRENDAN MCDERMID
FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S.

LONDON (Reuters) – HSBC will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.

In the strongest statement by Europe’s biggest bank on climate change to date, its CEO outlined HSBC’s ambitions to align its activities with the Paris Agreement.

“COVID has been a wake-up call to us all, including me personally, we have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told Reuters in a video interview.

Eskom hopes to announce green financing for coal transition at COP26

October 8, 2020

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By Tanisha Heiberg

JOHANNESBURG, Oct 8 (Reuters) – South African power utility Eskom is still seeking funding for its shift from coal to greener fuels, but hopes to announce a deal at next year’s COP26 climate conference after talks with lenders including the World Bank, its chief executive said on Thursday.

Eskom, which generates 90% of South Africa’s power, has a 488 billion rand ($29.3 billion) debt burden and has imposed intermittent blackouts, denting economic growth and hurting investment.

The utility is in talks over funding with local and international developmental finance institutions, including the World Bank, and has received letters of support in principle, Andre de Ruyter told Reuters on the sidelines of the Joburg Indaba mining conference.

“There are both many local and international development finance institutions that are prepared to offer entities such as Eskom with funding linked to accelerated decarbonisation,” said de Ruyter.

Eskom is

World’s largest banks in commodity trade financing creating digital finance registry in Singapore: report

October 6, 2020

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Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.

SINGAPORE – Some of the world’s biggest banks in commodity trade financing are creating a digital trade finance registry in Singapore to try and mitigate the risk of trade fraud and boost transparency after losing billions of dollars due to a spate of defaults.

Banks have reduced their commodities business this year to cut risk following collapses, including that of Singapore’s Hin Leong Trading (Pte) Ltd, which shocked lenders after instances of financial trouble were laid bare by the coronavirus crisis.

In a joint statement issued on Tuesday, DBS Group DBSM.SI and Standard Chartered STAN.L said they are leading a group of 12 other banks in Singapore to create and conduct a central database to access trade transactions financed across banks.

HSBC, STANDARD CHARTERED’S REPORTEDLY MOVED LARGE SUMS OF ILLICIT CASH FOR 2 DECADES WITH NO IDEA

Colombia to substitute some planned dollar financing for $1.3 bln in bonds -sources

October 5, 2020

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By Nelson Bocanegra

BOGOTA, Oct 5 (Reuters) – Colombia plans to substitute some of its planned 2020 financing in dollars for a local debt emission of about 5 trillion pesos ($1.28 bln), three market sources with knowledge of the plan told Reuters on Monday.

The ministry will extend auctions of local so-called TES bonds until November in order to raise the projected funds.

TES paper is the country’s second top source of financing after tax collection.

The Finance Ministry plans to move ahead with pre-financing needs for 2021 and is considering an internal debt swap on the local market, the sources said.

The ministry did not have an immediate response to a request for comment.

In early September, director of public credit Cesar Arias told Reuters Colombia would carry out public debt swaps with multilateral banks to reduce its exchange rate exposure amid higher debt due to coronavirus and

Boxlight – Gearing Up For More Acquisitions With Expensive Financing Transaction (NASDAQ:BOXL)

September 27, 2020

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Boxlight Corporation (NASDAQ:BOXL) is pursuing a roll-up strategy mostly in the interactive classroom technology solutions field. Since 2016, the company has closed nine acquisitions and, according to management on the most recent conference call, Boxlight is “currently evaluating several additional M&A targets that would result in either improving our product offering or expanding our geographic footprint“.

Unfortunately, the company is also known as a bad case of overpromise and underdeliver. After initially guiding FY2019 revenues to grow 25% to $47 million, the company ended the year with revenues of just $33 million, a 13% decrease from 2018 levels. Remember, these results were entirely unaffected by the ongoing COVID-19 pandemic.

Picture: Boxlight MimioDisplay 3 Interactive Touchscreen – Source: Company Website

FY2020 will likely see even weaker top-line results as COVID-19 causes customers to delay purchase decisions.

The poor business performance has resulted in substantial cash burn. Since Q1 2019,

Next Insurance Attracts $250M in New Financing; Its $631M to Date Beats Lemonade

September 27, 2020

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Next Insurance secured another $250 million in financing designed to fuel continued national expansion of its digital small business insurance offerings.

CapitalG, Alphabet/Google’s independent growth fund, led the Series D round. But existing investor Munich Re Group also participated in the new capital raise, as did FinTLV, a global InsurTech venture capitalist.

As part of the new funding round, CapitalG Partner Sumiran Das will join the Next Insurance board of directors.

“We believe that there is an opportunity to use technology to transform the small business insurance experience in the U.S. and build a national insurance leader,” Das said in prepared remarks. “Next Insurance has the right team and capabilities to capitalize on this vision and is well on its way to doing so.”

To date, Next Insurance has raised $631 million, including a $250 million financing round from Munich Re in October 2019.

The technology-oriented carrier has now raised

Easiest Business Loan to Get: What Factors Are Important When Looking for a Financing Solution?

May 4, 2020

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Every type of business requires some sort of loan or line of credit for a wide range of reasons: start up capital, equipment, inventory, office rental, etc. Since every business and every owner is different and has unique circumstances, the easiest business loan to get for another owner might not be the easiest for you.

For start-ups or businesses that have either no credit history or a poor credit history, it will likely be difficult to obtain traditional bank loans. Also, with a low credit score, your interest rate will be high, even if you are approved for a loan.

Lenders will usually look at more than your credit history. Other factors include your time in business, industry, your personal credit score, whether you’ve had any recent bankruptcies or defaults, balance sheet, business licenses and permits, tax returns, purpose of loan, proof of collateral, and several other reasons.

If you … Read More

Top Financing Options for A Start Up Business

May 4, 2020

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Business needs financial support as well as planning. If a business gets proper planning along with appropriate financial support to implement the plans in real life then there will be a great chance that the business will get the success. Businessmen know that it’s hard to arrange financial support for a business. There have many reasons for that, people don’t want to believe in a business which is just placing its first step in the market. But still there have many ways and by using them, a businessman can collect financial support.

Small Business Start-up Loans

Small business start up loans are the great options for start up trade owners. It offers a great opportunity for those who are seeking financial support for their small trade. Basically, a wide range of small business loan startup loans are available in the market but among them, SBA loans are the most famous … Read More

Expanding Small Business Financing Opportunities For Your Business

May 1, 2020

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Small business financing is often the only way for some businesses to get the capital they need to open their doors, expand operations, or develop new services and products. However, the Great Recession created some significant hurdles for personal and business loan applicants who boasted less-than-perfect credit scores.

However, recent investigations suggest that banks are starting to open their doors to business owners in greater numbers. Although credit requirements remain above what they were before the recession, lending has indeed warmed up for many business owners. Where many businesses were just “treading water,” they’ve now entered an era of cautious and optimistic growth.

Another positive sign in small business financing is the improved cash flow in the nation’s major banks, which has led to increased lending activity and an overall reduction in average commercial loan rates. With the recession fading into the background of the economy, small businesses that have … Read More

Steps To Commercial Business Financing Options

May 1, 2020

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Business financing options are provided by a number of non bank specialized finance companies in Canada. They provide an array of corporate solutions, all of them different but still allowing you to achieve cash flow and working capital goals. They are in fact, the answer to.. you guessed it ‘ no bank financing’ conundrums.

The challenge for business owners and financial managers is to identify and execute on who those sources are and what they can do for your company. Many companies, and industries in fact have specialize needs.

When you think of the right type of business financing for your company it’s important to think of senior and junior! What do we mean by that comment? Simply that a senior lender will want all the security on your business, typically handled by a document called the G S A – General Security Agreement. It then becomes a challenge to … Read More