Monthly Archives: May 2022

PRIME MERIDIAN HOLDING CO Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q)

Management's discussion and analysis is presented to aid the reader in understanding and evaluating the financial condition and results of operations of Prime Meridian Holding Company, and its wholly-owned subsidiary, Prime Meridian Bank. This discussion and analysis should be read with the condensed consolidated financial statements, the footnotes thereto, and …

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UK’s high inflation could last ‘for years rather than months’, economist warns | Inflation

Pressure on UK households from high inflation could be greater and last longer than expected, amid a series of economic shocks from Brexit, Covid and Russia’s war in Ukraine, economists have warned . Michael Saunders, a member of the Bank of England’s Monetary Policy Committee (MPC), said inflation was “uncomfortably …

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Banks weighing the central database of fraud attempts

Banks seek to set up a pool of borrowers who have attempted to defraud. The database may also contain details of customers who hid information or manipulated their books in order to obtain loans from different lenders. A senior bank official said such a database will be on the lines …

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US unveils additional sanctions targeting Russian media, funding and elites

The United States, the European Union and the Group of Seven countries will impose additional sanctions on Russia targeting the country’s media, elites and state-controlled services that help finance the war in Ukraine, said a senior Biden administration official on Sunday. The announcement came as Biden virtually met with G-7 …

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Rishi Sunak can fight recession risks with cost-of-living support package | Larry Elliot

LLess than three months after Russian troops crossed the Ukrainian border, the economic implications of the war are gradually being felt. There have been other conflicts since 1945, but it is hard to imagine one that had such a dramatic and sudden impact. The only real comparison is with the …

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CryptoPunk Owner Secures $3.3M NFT Loan on Nexo By BTC Peers

CryptoPunk owner secures $3.3M NFT loan on Nexo Much like the era of DeFi lending, NFT-backed lending is increasingly becoming a norm. An anonymous CryptoPunk owner was able to use two of his pixelated avatars as collateral to secure a loan of over $3.3 million. The said loan was issued …

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TMC the metals (NASDAQ: TMC) and Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel (OTCMKTS: NILSY) Critical Survey

TMC the metals (NASDAQ:TMC – Get Rating) and Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel (OTCMKTS:NILSY – Get Rating) are both basic materials companies, but which business is superior? We will compare the two companies based on the strength of their analyst recommendations, profitability, valuation, institutional ownership, …

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Wells Fargo wins commercial loan lawsuit dismissal

May 6 (Reuters) – A federal judge on Friday dismissed class action lawsuits alleging Wells Fargo & Co (WFC.N), the fourth-largest U.S. bank, deceived or defrauded shareholders over its business loans. U.S. District Judge William Alsup in San Francisco said shareholders failed to sufficiently allege that Wells Fargo unjustifiably inflated …

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Pension industry fears Russia-Ukraine conflict

Soaring oil prices and the outbreak of the Russian-Ukrainian conflict have contributed to the uncertainty facing financial markets. This could potentially have negative implications for the Namibian pension fund industry’s investment assets. The sector’s investment assets weathered threats stemming from Covid-19, higher than expected inflation rates and relatively tighter central …

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What the ongoing war in Ukraine means for financial institutions in the United States

By Rene Perez, Financial Crime Consultant at Jack Henry & Associates More than two months ago, February 23rd at 5 a.m. local time, Russia invades Ukraine. Since then, news channels and social media news feeds around the world have covered developments daily, including the implementation of economic sanctions against Russia. …

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Nexo Provides $3.3M NFT Loan to CryptoPunk Owner

An anonymous borrower has posted two rare CryptoPunks as collateral for a 1200 ETH loan from crypto lender Nexo. Nexo provided a loan of over $3.3 million at an annual interest rate of 21% to a CryptoPunk owner who set up two CryptoPunks with the rare “Zombie” trait as collateral. …

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Match Group Stock tumbles as revenue forecast misses estimates

Text size The Match Group website on a laptop. Gabby Jones/Bloomberg Shares of Matching group fell after the online dating company released a revenue forecast for the fiscal second quarter that missed Wall Street expectations. Match (ticker: MTCH) also said his name was Zynga (ZNGA) Chairman Bernard Kim as chief …

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pleasing development of the banking strategy

“The institutions and New Zealand are in very good shape. And together they represent well over half of our capital as a bank,” Elliott explained. “Australia [had] a bit more challenging environment for us at ANZ and for the industry. [It was a] very competitive period of time, but we …

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Interim financial report, Q1 2022

Bank Jyske Earnings per share: DKK 12.1 (Q1 2021: DKK 11.6) Net interest income: DKK 1,312 million. (Q1 2021: DKK 1,224 million) Net commissions: DKK 683 million (Q1 2021: DKK 576 million) Value adjustments: DKK 9 million (Q1 2021: DKK 362 million) Basic income: DKK 2,189 million (Q1 2021: DKK …

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Stock market today: the Dow Jones falters, Amazon falls

Text size Photo credit: NYSE The stock market was trying to rebound Monday from Friday’s steep losses as investors look ahead to Wednesday’s FOMC meeting. Shortly after opening, the Dow Jones Industrial Average slipped 62 points, or 0.2%, while S&P500 fell 0.3%, and the Nasdaq Compound decreased by 0.3%. The …

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Debt can be a killer

The arrest last week of the founder of investment firm Archegos on charges of securities fraud is a stark reminder of the hidden debt. In March 2021, Archegos was overleveraged, allegedly hiding its debt from Wall Street firms as it used funky “total return swaps” to manipulate stock prices. The …

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The Great Commodities Shock: COVID-19 and War in Ukraine Mean Big Price Increases

Here comes the big shock of commodities – The World Bank released a new forecast last week that predicted major economic disruption from the COVID-19 pandemic and shutdowns that will continue for several years. The international financial institution said the conflict in Ukraine will also play a part in what …

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Most Influential Women in Banking: Upcoming 2022

As we emerge from a global pandemic crisis that has wreaked havoc on many people’s professional and personal lives, it’s no surprise that a recurring theme among this year’s nominees is empathy. Four of the 15 Most Powerful Women in Banking: The following list noted the valuing of empathy as …

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