All posts tagged: investor

SEC clears investor nuns to file Indigenous rights resolution against Citigroup

SEC clears investor nuns to file Indigenous rights resolution against Citigroup

Published by skeptic

(RNS) — Sister Susan Francois, a 52-year-old Catholic nun and longtime financial investment activist, has spent the past four years filing shareholder resolutions against Citigroup, urging the parent company of one of the world’s largest investment banks to rethink its financial ties to fossil fuel projects that impact Indigenous communities. Her work has often been dismissed by the lending giant. But on March 7, Francois and her colleagues among the Sisters of St. Joseph of Peace won an unexpected victory when the U.S. Securities and Exchange Commission ruled in their favor, clearing the way for their shareholder resolution on Indigenous rights to proceed at Citi’s annual meeting in April. “I was delighted because all we’re asking is to give the shareholders an opportunity to express their concerns about the reputational risk and the need to listen to human rights concerns,” Francois said. “I think it’s always good when people have an opportunity to use their rights.” Shareholder resolutions allow those who hold stock in a company to communicate concerns to corporate leadership. The Sisters of …

Prominent Cryptocurrency Investor Faces Senate Tax Inquiry

Prominent Cryptocurrency Investor Faces Senate Tax Inquiry

Published by skeptic

A Senate committee is investigating whether a prominent cryptocurrency investor violated federal tax law to save hundreds of millions of dollars after he moved to Puerto Rico, a popular offshore tax haven, according to a letter reviewed by The New York Times. Senator Ron Wyden, an Oregon Democrat, sent the letter on Jan. 9 to Dan Morehead, the founder of Pantera Capital, one of the largest crypto investment firms. The letter said the Senate Finance Committee was investigating tax compliance by wealthy Americans who had moved to Puerto Rico to take advantage of a special tax break for the island’s residents that can reduce tax bills to zero. The investigation was focused on people who had improperly applied the tax break to avoid paying taxes on income that was earned outside Puerto Rico, according to the letter. “In most cases, the majority of the gain is actually U.S. source income, reportable on U.S. tax returns, and subject to U.S. tax,” the letter said. The letter requested detailed information from Mr. Morehead about $850 million in …

Trump Media COO quits; DJT turns over more shares to SPAC investor in court fight

Trump Media COO quits; DJT turns over more shares to SPAC investor in court fight

Published by Sam

A smartphone displays the logo of Donald Trump’s Truth Social app on March 25, 2024. Anna Barclay | Getty Images Trump Media Chief Operating Officer Andrew Northwall resigned in late September, the company revealed in a regulatory filing Thursday. In the same filing, former President Donald Trump’s social media company announced that it will release nearly 800,000 shares of its stock to an early investor in accordance with a recent order by a Delaware judge. At Thursday’s closing price, those shares would be worth around $12.7 million. The company, which trades on the Nasdaq as DJT, provided no explanation for Northwall’s resignation, but said it “plans to transition his duties internally.” The filing with the U.S. Securities and Exchange Commission made no direct connection between the development in the Delaware lawsuit and the executive’s departure. In mid-September, Delaware Chancery Court Judge Lori Will ruled that Trump Media breached an agreement with ARC Global Investments II, a so-called sponsor of the business merger that took the company public. The legal dispute centered on competing claims about …

Tesla Won’t Have Much to Show at “Light on Details” Robotaxi Event, Investor Warns

Tesla Won’t Have Much to Show at “Light on Details” Robotaxi Event, Investor Warns

Published by José

A robotaxi could still be many years out. Short on Details We’re one week away from Tesla’s long-awaited “robotaxi” event — and investors are already attempting to manage expectations. Tesla CEO Elon Musk promised to unveil an autonomous vehicle at the event, which was initially slated for August. But whether the beleaguered EV maker will have anything to show beyond some flashy renderings remains unclear at best. During a recent appearance on CNBC, Deepwater Management partner Gene Munster warned that the event will be “light on details,” despite unveiling not just one but three vehicles: a “Robovan,” a “robotaxi,” and an ultra-cheap $25,000 EV. The development of an affordable passenger vehicle has long been a point of contention, with investors worried that Tesla’s focus on a robotaxi could end up delaying its development. Meanwhile, the company’s so-called “Full Self-Driving” driver assistance software has also met several stumbling blocks, with regulators investigating hundreds of collisions and dozens of deaths related to the company’s overarching Autopilot system. Launch Party According to Munster, the Robovan will be “some …

Fintech Bolt is buying out the investor suing over Ryan Breslow’s M loan

Fintech Bolt is buying out the investor suing over Ryan Breslow’s $30M loan

Published by skeptic

Bolt says it has settled its long-standing lawsuit with its investor Activant Capital. One-click payments startup Bolt is settling the suit by buying out the investor’s stake “after which Activant will no longer hold any interest in Bolt,” the company said in a statement. Activant’s suit accused founder and then CEO Ryan Breslow of adding […] © 2024 TechCrunch. All rights reserved. For personal use only. Source link

Cross Party Working Key For Green Investor Confidence, Says Environment APPG Chair

Cross Party Working Key For Green Investor Confidence, Says Environment APPG Chair

Published by Sam

Strathern after winning is by-election in October 2023 (Alamy) 4 min read11 August Cross-party working and consensus is key in giving investors confidence in the UK’s green agenda, according to new chair of the Environment APPG, Alistair Strathern. Strathern, who also serves as Chancellor Rachel Reeves’ PPS, told PoliticsHome that the Treasury and the government are “unwavering” on the importance of the green agenda, despite the downgrading of the promised £28bn green prosperity plan earlier this year.  The Labour MP worked in climate at the Bank of England before being elected to Parliament for the first time last year.  He thinks that the all-party parliamentary group (APPG) is “really important” in terms of policy thinking, but also in building a sense of cross-party ambition beyond parliaments and governments, that could help attract long-term investment.  Strathern believes the group will be “leaning in behind the much more ambitious evidence-led approach this government is taking on climate and nature issues, but looking to do that in a way that builds out the cross party consensus …

Trump Media investor convicted of insider trading ahead of merger

Trump Media investor convicted of insider trading ahead of merger

Published by skeptic

Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023. Amr Alfiky | Reuters A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media. The investor, Bruce Garelick, had been on the board of directors of the publicly traded company, Digital World Acquisition Corp., at the time he was accused of sharing and exploiting non–public information with others about its plans to merge with then-privately held Trump Media, the owner of the Truth Social app. Trump Media’s majority shareholder is former President Donald Trump, who was not accused of any wrongdoing in the case against Garelick in U.S. District Court in Manhattan. But Garelick’s trial, which began on April 30, took place just blocks away from where Trump is on trial in Manhattan Supreme Court on criminal charges related to a hush money payment to porn star Stormy Daniels. Two co-defendants of …

Watch: Billionaire Real Estate Investor Expects ‘One Or Two’ Bank Failures A Week, UK Economist Says “Entering A New Dark Age”

Watch: Billionaire Real Estate Investor Expects ‘One Or Two’ Bank Failures A Week, UK Economist Says “Entering A New Dark Age”

Published by skeptic

Billionaire Barry Sternlicht, Founder, Chairman and CEO of Starwood Capital Group has issued an ominous warning about America’s regional banks, which he says will fail at a rate of ‘one or two’ per week. Speaking with CNBC on Tuesday, Sternlicht says he thinks that primary real estate lenders – community and regional banks – are about to get whacked. “You’re going to see a regional bank fail every day, or not — every week, maybe two a week,” he said, adding that Fed Chair Jerome Powell’s ongoing rate hikes will continue to have consequences for the real estate sector. “He’s got a hard task with a blunt tool, and the consequence is the real estate markets are taking it on the chin because rates rose so fast. We could have handled this, but we couldn’t handle it this fast,” he said. “The 1.9 trillion of real estate loans, that’s a fragile animal right now.” Watch: As Schiff Gold notes, the fed must cut to avoid a banking crisis. Most at-risk firms are smaller banks representing …

Human composting and timber marketplaces: talking “industrial” VC with investor Dayna Grayson

Human composting and timber marketplaces: talking “industrial” VC with investor Dayna Grayson

Published by skeptic

While the venture world is abuzz over generative AI, Dayna Grayson, a longtime venture capitalist who five years ago co-founded her own firm, Construct Capital, has been focused on comparatively boring software that can transform industrial sectors. Her mission doesn’t exclude AI, but it also doesn’t depend on it. Construct recently led a seed-stage round, for example, for TimberEye, a startup developing vertical workflow software and a data layer that it says can more accurately count and measure logs and, if all goes as planned, help the startup achieve its goal of becoming the marketplace for buying timber. How big could that market be, you might be wondering? According to one estimate, the global forest products industry hit $647 billion in 2021. Another Construct deal that sounds less sexy than, say, large language models, is Earth, a startup that’s centered around human composting, turning bodies into “nutrient-rich” soil over a 45-day period. Yes, ick. But also: it’s a smart market to chase. Cremation today accounts for 60% of the market and could account for upwards …