Wed, December 18, 2024

by: FTAdviser

How a Court of Appeal ruling affects motor finance agreements

The recent landmark court judgment on motor finance represents a potentially seismic shift in the regulatory and legal landscape of the intermediary lending industry - for investors and lenders alike.

by: WTOP News

Iran's rial hits a record low, battered by regional tensions and an energy crisis

TEHRAN, Iran (AP) — The Iranian rial on Wednesday fell its lowest level in history, losing more than 10% of its value since Donald Trump won the U.S. presidential election in November and signaling new challenges for Tehran as it remains locked in the ...

by: India Today

Is Elon Musk becoming a kingmaker for govts across the world?

After ensuring Donald Trump's return to the White House, Tesla boss Elon Musk met Reform UK leader Nigel Farage and is likely to finance his politics. Farage is one of the many world leaders Musk has met to discuss business and politics.

by: Kiplinger

You've Got a Trust: Now Who Should Be the Successor Trustee?

You've set up a trust to protect your assets and your beneficiaries, but you still must choose the right person to execute your wishes. Here's how to do that.

by: Fleet News

Industry jobs: Roles filled at Europcar, JCT600 VLS, Select Car Leasing, CPD, Leasing Options and PayByPhone

The latest industry appointments, including JCT600 Vehicle Leasing Solutions appoints new commercial director.

by: indiaretailing

Retailer's body seeks lower interest rate, national retail policy

In its pre-budget memorandum, RAI said the Union Budget for FY25-26 should focus on generating demand and spurring consumption by lowering taxes

by: Business Times

Hong Kong watchdog searches finance firms' offices in Nasdaq listings probe

HONG Kong's securities watchdog last month searched the offices of about a dozen finance firms and individuals as part of a probe of company listings on the Nasdaq exchange, according to people familiar with the matter.

by: inc42

Leadership Exodus: Founders, CEOs Who Quit Their Startups In 2024

One of the most common occurrences in the world's third-largest startup ecosystem, besides yearly layoffs, ESOP buybacks, and unicorn creation, among others, is cofounders and leaders at the helm exit

by: The Globe and Mail

Business Brief: What to make of Canada's new Finance Minister

Canada's inflation rate dipped below the Bank of Canada's 2-per-cent target for the second time in three months, the latest sign that the central bank has tamed inflationary pressures in the economy.

by: Business Standard

Unlock Global Careers with BCom Honours in Business Analytics and FinTech at JAIN (Deemed-to-be University)

In today's data-driven and technology-centric world, the demand for professionals skilled in business analytics and financial technologies has never been higher. JAIN (Deemed-to-be University), School of Commerce,

by: manilatimes

Broad Arrow Delivers 75% Year-Over-Year Growth in 2024 with $316 Million in Transactions Across Auctions, Private Sales, and Financing

The 1997 Porsche 911 GT1 Rennversion, Broad Arrow's top auction sale of 2024, pictured on the block at the company's Monterey Jet Center Auction (Credit - Kayden Nelson / Courtesy of Broad Arrow Auctions) 86 cars sold via private sale transactions, totaling more than $67 million Underwrote approximately $84 million in new financing transactions

by: Yahoo

This couple holds an annual 'goals meeting.' In 2024, they saved over 6 figures and traveled to Greece and Italy.

Durelle and Samantha Bailey always schedule an end-of-year meeting. They track goals in a spreadsheet and check in on their progress every week.

by: The Financial Express

Shriram Finance raises offshore loan for $1.28 billion

Apart from Kotak Mahindra Bank, banks and global financial institutions such as DBS Bank, First Abu Dhabi Bank, HSBC, International Finance Corporation, MUFG Bank, Standard Chartered Bank, SMBC acted as global coordinators.

by: Business Insider

This couple holds an annual 'goals meeting.' In 2024, they saved 6 figures and traveled to Greece and Italy.

Durelle and Samantha Bailey always schedule an end-of-year meeting. They track goals in a spreadsheet and check in on their progress every week.

by: Seeking Alpha

Of 63 Fortune500 Industry Leaders, 57 Pay Dividends, 38 Test 'Safer' & 1 Is Ideal To Buy

Top 10 Fortune 500 industry leaders show strong yields. See why Energy Transfer's high-dividend, low-price stock stands out as a safer buy in December.

by: KOLR10 & Ozarks Local News

Philanthropist MacKenzie Scott reveals another $2 billion in donations in 2024

NEW YORK (AP) — Billionaire author and philanthropist MacKenzie Scott acknowledged another $2 billion in donations in a blog post on Wednesday, bringing the total she's given away since 2019 to $19.2 billion. Scott also announced that she has directed ...

by: MSN

Business Owners Giddy as Trump Returns to the White House

by: AOL

Whole Foods Workers Start First Union: How This Could Impact Your Grocery Prices

Whole Foods employees at a Philadelphia branch of the multinational supermarket chain -- known for selling products free from such additives as hydrogenated fats and

by: CIO

Is SaaS dead? Not quite, but it's evolving rapidly

Buyers are consolidating, pricing and delivery models are shifting, and AI is (of course) having a major impact, but vendors aligned with customer value will survive - and thrive.

by: Couriermail

Protesters clash with ANZ over its climate and military funding

Protesters from the pro-Palestine, climate and environment movements are angry over the bank's financial ties to the world's largest weapons company, Lockheed Martin. According to the protesters, ANZ helped facilitate more than $US23bn ($A37bn) worth of bond financing for Lockheed Martin.

by: WBUR

Boston City Councilor Fernandes Anderson has a trail of troubled finances

Public records show the councilor's campaign committee received nearly 70 audit letters and reviews in her file seeking documentation of financial transactions since 2021, far more than is typical.

by: Thailand Business News

Green finance in ASEAN+3: balancing sustainability and financial stability

ASEAN+3 is intensifying its commitment to green finance, marking a significant step in the fight against climate change.

by: moneycontrol.com

How does a weak rupee and a strong dollar shaping India's economy?

2. Companies borrowing in dollars Here's a double whammy. Companies that borrowed in dollars now owe more in rupees. If a business took out a loan when $1 was Rs 83, they now need Rs 84.4 to pay back the same amount. India's external debt hit $682 ...

by: Business Today

'And I'm still an economic offender...': ?14,131.6 cr recovery by FM Sitharaman is 'double my debt', says Vijay Mallya

Mallya's response came after Finance Minister Nirmala Sitharaman informed the Lok Sabha that public sector banks have recovered ₹14,131.6 crore from the sale of his assets. This recovery is part of a larger drive by the Enforcement Directorate (ED ...

by: Hartford Courant

Connecticut Port Authority hires top nuclear energy exec as new executive director

Michael J. O'Connor, the recently retired vice president of Dominion Energy's Millstone Power Station in Waterford has been named the Connecticut Port Authority's new executive director as it moves forward as a supply hub for the northeast offshore wind industry.

by: Reuters

ECB proposes EU scheme to expand climate insurance uptake

Europe's businesses and homes need to increase their insurance cover to better withstand climate catastrophes, the European Central Bank and the EU's insurance regulator said on Wednesday as they proposed policies that could boost uptake.

by: The New York Times

Is Elon Musk a National Security Risk?

Federal agencies are reviewing whether the tech mogul and ally of Donald Trump complied with disclosure rules meant to protect states secrets.

by: Forbes

The Dark Side Of AI: Tracking The Decline Of Human Cognitive Skills

AI has created seemingly limitless possibilities in business. But is there a dark side to AI? If we rely too much on 'bots, what's the impact to our cognitive skills?

by: Business Line

Bank of Baroda approves ?10,000 crore bond issuance for infrastructure and affordable housing

by: PM NEWS Nigeria

Ogun Assembly to probe MAPOLY business ventures

The Ogun Assembly has directed the management of Moshood Abiola Polytechnic (MAPOLY), Abeokuta, to produce supporting documents for all ventures run by the institution.

by: Yahoo Finance

Nvidia could build a cloud business to rival AWS: The Information

Nvidia (NVDA) shares are trading higher following a report from The Information that the chip maker could build a cloud business that rivals Amazon's (AMZN) cloud segment, Amazon Web Services (AWS). Madison Mills and Josh Schafer take a closer look on Catalysts.

by: AOL

When's the best time to shop for car insurance? (It could be right now)

While timing your insurance shopping can have an impact, comparison shopping is what really drives your savings. See handy tips to timing your switch to a new insurer.

by: Yahoo Finance

CWB reports fourth quarter and full year 2024 financial performance

CWB Financial Group (TSX: CWB) (CWB) today announced financial performance for the year ended October 31, 2024, with annual common shareholders' net income of $268 million, diluted earnings per common share (EPS) of $2.

by: MSN

Minority and women business owners expect a boom in 2025

A study released in partnership with Bank of America revealed that most minority and women-owned businesses anticipate a spike in revenue and growth over the next 12 months. The study conducted before the November election shows that 84% of Black/African Americans,

by: Forbes

5 Questions With Steven: Campbell R. Harvey

Campbell Harvey is one of the world's leading financial academics. Here he answers some of the key questions facing investors today, from blockchain to tail risks.

by: Reuters

BlackRock's global client balancing act, from Indianapolis to Tokyo

We already knew that BlackRock's global customer base brings it conflicting pressures from clients, but developments in the past week drive home the point for the world's top asset manager.

by: Business Insider

4 banks that will pay you up to $300 when you open an account by the end of the year

Some banks and credit unions are offering promotions on high-yield bank accounts ending in January. Find out whether these deals are right for you.

by: moneycontrol.com

NBFC Laxmi India Finance files draft papers to raise funds via IPO

The public issue comprises fresh issue of 1.04 crore equity shares, and an offer-for-sale of 56.38 lakh shares by promoters

by: Business Standard

JAIN (Deemed-to-be-University): Your Pathway to a Global Career in International Finance and Accounting with ACCA

A Globally Integrated Program with ACCA Accreditation The BCom Hons International Accounting and Finance program offered by JAIN (Deemed-to-be University) seamlessly integrates core business principles with the globally recognized Association of Chartered ...

by: Reuters

Marathon VW talks to resume in search for pre-Christmas deal with unions

Crunch talks between Volkswagen and unions over cuts to the automaker's German operations will resume on Wednesday after a brief break, reflecting intense efforts to strike a deal before Christmas and avert major strikes in 2025.

by: Forbes

Understanding Embedded Finance And The Growth Of White-Label Neobanking

Embedded finance is estimated to have reached a market value of $84.12 billion in 2023, projected to grow at a CAGR of 32.81% from 2024 to 2033. With 56% of businesses already offering at least one form of embedded finance, white-label neobanking is here to stay.

by: Business Standard

Shape a Global Career in Finance and Accounting with BCom Programs at JAIN University- Bangalore

The finance and accounting industry continues to evolve rapidly, creating a growing demand for highly skilled professionals. JAIN (Deemed-to-be University), School of Commerce, Bangalore, offers cutting-edge Bachelor of Commerce (Honours / Honours with Research) programs with global qualifications,

by: MSN

Ryder taps 20-year veteran as next CFO. Here's how the Fortune 500 company develops top talent

Ryder System, Inc.'s talent development includes preparing its longtime executives for different C-suite roles. That includes Cristina Gallo-Aquino, SVP, controller, and principal accounting officer at the transportation and logistics company who is taking on the role of EVP and CFO.

by: Yahoo Finance

Experts' comments on talks between Honda and Nissan to deepen ties

Honda's cash flow is set to deteriorate next year and its EVs haven't been going so well. Honda itself needs to change drastically. If these are made easier by a setting up a holding company (with Nissan),

by: Reuters

ESG Watch: COP29 leaves electric vehicle industry stuck in the slow lane

Road vehicles are responsible for 15% of global energy-related emissions, and a crucial piece of the decarbonisation puzzle. You would expect them to be front and centre of the COP U.N. climate conference process.

by: MSN

Why it's no surprise that Gen Z thinks it needs $500,000 a year to succeed

As economic inequality rises, young Americans are left with a choice between settling for less and setting their sights higher.

by: Yahoo Finance

Siemens Gamesa sells power electronics business to ABB

Engineering services firm ABB said on Wednesday it has agreed to acquire the power electronics unit of Gamesa Electric in Spain from Siemens Gamesa. The financial details of the deal, which is expected to close in the second half of 2025,

by: MSN

UAE Property Demand Rises as Europeans Relocate to Dubai

The UAE property market is experiencing a remarkable surge in demand as Europeans increasingly choose Dubai for its dynamic lifestyle and favorable business environment. Ali Sajwani, Managing Director of Damac Properties,

How a Court of Appeal ruling affects motor finance agreements

The recent landmark court judgment on motor finance represents a potentially seismic shift in the regulatory and legal landscape of the intermediary lending industry - for investors and lenders alike.

The article from FT Adviser discusses a significant Court of Appeal ruling that impacts motor finance agreements, particularly those involving discretionary commission arrangements (DCAs). Historically, DCAs allowed car dealers to adjust the interest rates on finance agreements to earn higher commissions, often without the customer's knowledge. The ruling has led to a surge in complaints and potential compensation claims as it was determined that these practices could be considered unfair under the Consumer Credit Act. The Financial Conduct Authority (FCA) has intervened, ordering a pause on the eight-week deadline for firms to respond to complaints related to these agreements, to assess the situation further. This pause aims to ensure a fair and consistent approach to handling these complaints, potentially affecting thousands of consumers who might have been overcharged. The article also mentions that while the FCA has not yet concluded its investigation, the implications could lead to significant compensation payouts if widespread misconduct is confirmed.

Read the Full FTAdviser Article at:
https://www.ftadviser.com/regulation/2024/12/18/how-a-court-of-appeal-ruling-affects-motor-finance-agreements/