• Tue, December 3, 2024

by: Bill Williamson

Banks get eight years to hit Sh10bn minimum capital

The proposal, if adopted in Parliament, will offer a reprieve to lenders that currently have core capital below Sh10 billion.

by: Bill Williamson

'Unique' homeware store Tilly and Ted set for major upscale

by: Bill Williamson

FHFA announces higher mortgage loan limits for 2025

As home prices rise, the FHFA tends to raise the standard CLL. The new limit for 2025 is $806,500 for one-unit mortgages in most states. Borrowers looking to take out a larger loan have to opt for alternative mortgage options like jumbo loans or private loans.

by: Bill Williamson

Ohio House committee votes to force landlords to verify immigration status for subsidized units

COLUMBUS, Ohio - An Ohio House committee on Tuesday passed legislation that would compel property managers in apartments and other recipients of state affordable housing tax credits to verify the immigrations status of their tenants.

by: Bill Williamson

US job openings rise; layoffs post largest drop in 1-1/2 years

U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labor market continued to slow in an orderly fashion. But the Job Openings and Labor Turnover Survey,

by: Bill Williamson

New rule could stop sale of your personal information

The Consumer Financial Protection Bureau is aiming to regulate data brokers that are allowed to sell that personal information.

by: Bill Williamson

Govt official slams COP29 as missed opportunity for climate finance goals

Describing COP29 as one steeped in "semantics and not solutions", a senior Indian official has called the proceedings a missed opportunity to mobilize meaningful climate finance for adaptation and mitigation efforts in developing nations.

by: Bill Williamson

Lok Sabha passes The Banking Laws (Amendment) Bill 2024

by: Bill Williamson

What Did Enron Do? Learn Why the Company Went Bankrupt

With the announcement of a relaunch, learn everything about Enron's past and why it went out of business in the early 2000s.

by: Bill Williamson

35% GST slab in the works? A look at GST bands and how they are decided

The Group of Ministers (GoM) on GST rate rationalisation has recommended to raise GST on select sinful goods. Here's how GST Council decides on different tax bands

by: Bill Williamson

Italy seeks arrest of Austrian tycoon Benko in corruption probe

An Italian judge ordered the arrest of Austrian property tycoon Rene Benko and eight others as part of an investigation into alleged corruption of local politicians in the Trentino Alto-Adige mountain region,

by: Bill Williamson

How UK Export Finance is supporting ethnic minority-led businesses to achieve their global ambitions

UK Export Finance helps ethnic minority-led businesses to win, fulfill, and get paid for international exports.

by: Bill Williamson

10 Carl Icahn Quotes Every 20-Year-Old Needs to Hear

Carl Icahn of Icahn Enterprises offers valuable insights as a successful businessman and investor. Those in their 20s can refer to Icahn's quotes when starting their careers. Also: Discover the Next Nvidia.

by: Bill Williamson

Holiday Office Party Taxes: Know Before You Go

Kate is a CPA with experience in audit and technology. As a Tax Writer at Kiplinger, Kate believes that tax and finance news should meet people where they are today, across cultural, educational, and disciplinary backgrounds.

by: Bill Williamson

Small business owners brace for Trump's proposed tariffs

Small businesses are bracing for stiff tariffs that President-elect Donald Trump has proposed as one of his first actions when he takes office. Trump has proposed importers pay a 25% tax on all

by: Bill Williamson

Mar Vista Focus Strategy's Q3 2024 Investor Letter

Mar Vista Investment Partners, LLC, an investment management company, released the "Mar Vista Focus strategy" third quarter 2024 investor letter.

by: Bill Williamson

Tax Laws Amendments: List of Key Changes MPs have Proposed after Public Participation

The National Assembly Finance and Planning Committee has recommended several changes in their report on the Tax Procedures (Amendment) Bill 2024.

by: Bill Williamson

Why these 2 billionaire-led crypto plays stand out as buys: Analyst

Microstrategy began as a software company by Michael Saylor, who has since morphed into a crypto loyalist with a net worth of about $9.6 billion on the back off his aggressive bitcoin buying at the company.

by: Bill Williamson

Will Elon Musk Ever Collect His Full Tesla Pay Package?

The electric vehicle maker vowed to appeal after a Delaware judge rejected the tech mogul's massive compensation deal for a second time.

by: Bill Williamson

Mondel?z International Names Volker Kuhn Executive Vice President for Europe

Kuhn joins Mondelēz from Reckitt's hygiene business, its largest global unit, where he delivered top- and bottom-line performance acceleration driven by innovation, consumer centricity and category growth.

by: Bill Williamson

Boubyan Bank completes MX.3 implementation for sharia-compliant treasury activity

by: Bill Williamson

Dentsply Sirona Appoints Herman V. Cueto Interim Chief Financial Officer

by: Bill Williamson

Montage Health appoints Michael McDermott as new president and CEO

Montage Health, a nonprofit healthcare organisation, has appointed Dr Michael McDermott as its next president and CEO, effective the second quarter of 2025. The transition comes as Dr Steven Packer prepares for retirement after a 25-year tenure leading Montage Health and the Community Hospital of the Monterey Peninsula in the same roles.

by: Bill Williamson

Comment: Our future depends on biodiversity, we must invest in it urgently

Nature is our life support system, providing water, food, clean air and shelter, and biodiversity plays an important role in ensuring ecosystems remain healthy and resilient. But human activity - from deforestation and pollution to the exploitation of nature - has led to significant biodiversity loss.

by: Bill Williamson

Canada's Scotiabank misses profit estimates on higher taxes, expenses

Bank of Nova Scotia missed analysts' estimates for quarterly profit on Tuesday, hurt by higher taxes and elevated expenses related to compensation and technology.

by: Bill Williamson

Trade finance fintech Modifi to invest more in Indian operations

by: Bill Williamson

Karnataka HC quashes electoral bonds case against Nirmala Sitharaman, former state BJP chief Kateel

Justice M Nagaprasanna passed the order while allowing the petition filed by Kateel. The FIR was registered by the Bengaluru police based on a complaint lodged by Adarsh R Iyer, a city-based activist.

by: Bill Williamson

PNB Housing Finance to start Loan Against Property from April 2025, says MD & CEO Girish Kousgi

by: Bill Williamson

Finance adviser confirms $1.1b IMF loan release by March

by: Bill Williamson

Crowell & Moring named "Banking & Finance Team of The Year" in LexisNexis Qatar Business Law Forum Awards

by: Bill Williamson

First Rail pursues 'clean core' SAP S/4HANA implementation

One of the UK's largest rail operators, First Rail, has completed its migration away from SAP ECC to S/4HANA private cloud. It took an 'adopt not adapt' approach to the implementation.

by: Bill Williamson

HELB, National Treasury Advertise Top Managerial Job Openings for Kenyans, Monthly Salary

The Higher Education Loans Board (HELB) and the National Treasury invited applicants for the position of Chief Executive Officer and Director General, respectively.

by: Bill Williamson

Average Net Worth by Age: How Do You Measure Up?

Have you surpassed the average net worth of your peers? Get tips from financial advisers on how to grow you wealth over time.

by: Bill Williamson

Pat Gelsinger and Carlos Tavares had the same big problem: Morning Brief

So far, 2024 is pacing to have a record number of CEOs out of a job. This week, two big ones — from Intel and Stellantis — illustrated a key point: It's hard to keep your job when your stock is down big.

by: Bill Williamson

Palestinians File German Complaint on Media Giant Axel Springer's Business in Israeli Settlements

German media giant Axel Springer is facing regulatory complaint by Palestinians about its business in Israeli settlements in the West Bank.

by: Bill Williamson

30 Under 30 Finance 2025: From Fintech's Top Founders To Wall Street's Best Dealmakers

These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.

by: Bill Williamson

Qatar-Kazakhstan investment projects exceed $20bln

by: Bill Williamson

Google Worried Israeli Contract Could Enable Human Rights Violations

The tech giant, which has defended the deal to employees who oppose supplying Israel's military with technology, feared the project might damage its reputation.

by: Bill Williamson

EPFO claim rejected or 'returned': Know why and how to fix errors

Correct deficiencies: For returned claims, EPFO will indicate the errors or missing information. These could include incorrect details, missing documents, or discrepancies in personal information. Make necessary corrections by updating your details, documents, or any required information through the EPFO portal.

by: Bill Williamson

GDP declines by 0.3% in third quarter

South Africa's economy has unexpectedly shrunk by 0.3 percent in the third quarter. Agriculture, forestry and fishing industries decreased by 28.8 percent. The transport, storage and communication industry also decreased by 1.

by: Bill Williamson

Will Luxury & Sin Goods See A Tax Hike In December, 35% GST On Tobacco, Aerated Drinks?

The Group of Ministers (GoM) on Rate Rationalisation, has proposed a "different tax treatment" for sin goods such as cigarettes, tobacco, and pan masala, according to finance ministry sources. Sources Say GoM proposes a hike in GST on aerated drinks,

by: Bill Williamson

Be the Future: Malaysia's First Philosophy, Politics & Economics Degree

As the world becomes increasingly interconnected, future leaders must tackle complex challenges in geopolitics, economics, and ethics with a multidisciplinary mindset.

by: Bill Williamson

Stellantis considers Picat and Filosa for CEO, says source

The board of Stellantis is considering its head of North American operations, Antonio Filosa, and procurement chief Maxime Picat as internal candidates for the CEO position, a source close to the matter said on Monday.

by: Bill Williamson

Jack Nathan Health Closes Sale of Canadian Business and Positions for Global Growth

by: Bill Williamson

France faces 'moment of truth' with government on brink of collapse

PRIME Minister Michel Barnier warned that France has reached its "moment of truth," as far-right leader Marine Le Pen is set to join a left-wing coalition to topple his government as soon as this week.

by: Bill Williamson

Lighthouse Canton Releases Venture Debt Report, Highlighting Growth of Non-Dilutive Financing for Startups in India

Lighthouse Canton has released an in-depth report titled "Silent Bloom: Venture Debt's Growing Influence." on India's startup ecosystem and its venture debt funding landscape. The global investment institution's report highlights the growing importance of venture debt as a financing tool in India's startup ecosystem.

by: Bill Williamson

REITs in India: 24% returns and 60% of office space ready for investment

Embassy REIT, Mindspace REIT, Brookfield India REIT, and Nexus Select Trust REIT generated returns of 24%, 18%, 6%, and 39% respectively since their inception

by: Bill Williamson

Upper Crust owner SSP posts 23% rise in annual profit

Upper Crust owner SSP posts 23% rise in annual profit

Upper Crust owner SSP Group reported a 23% jump in annual profit on Tuesday, in line with market expectations, partly buoyed by robust performance in its North America and UK markets.
SSP Group, the owner of the Upper Crust bakery chain, reported a 23% increase in its annual profit for the year ending September 30, 2023, driven by a recovery in travel and a strong performance in North America. The company's revenue rose by 37% to 3.1 billion pounds, with like-for-like sales up by 26.4%. Despite inflationary pressures, SSP managed to enhance its profitability through cost management and operational efficiencies. The firm also noted a significant improvement in its net debt position, which decreased to 379 million pounds from 468 million pounds the previous year. Looking forward, SSP anticipates a further increase in sales and profit for the upcoming year, supported by continued growth in travel sectors and strategic expansion plans.

Read the Full Reuters Article at:
https://www.reuters.com/business/retail-consumer/upper-crust-owner-ssp-posts-23-rise-annual-profit-2024-12-03/