Latest news with #ECS
Yahoo
4 days ago
- Business
- Yahoo
Unisys (UIS) Announces Pricing of $700 Million Senior Secured Notes Due 2031
Unisys Corporation (NYSE:UIS) is . On June 16, Unisys announced the pricing of its previously announced private offering of $700 million aggregate principal amount of Senior Secured Notes due 2031. This is a private offering extended to persons reasonably believed to be qualified institutional buyers. everything possible/ According to Unisys, the notes will be issued at par and carry an annual interest rate of 10.625%. The interest is payable semi-annually on January 15 and July 15, starting from January 15, 2026. The offering is anticipated to close on June 27, 2025, subject to customary closing conditions. Unisys intends to use the net proceeds from this offering to finance a cash tender offer and consent solicitation for all of its existing notes worth $485 million. The notes are due November 1, 2027. The proceeds will also cover related premiums, fees, and expenses, while another portion is earmarked to partially fund the company's U.S. pension plan deficit and postretirement liabilities. The remaining funds, if any, will be used for general corporate purposes. Unisys Corporation (NYSE:UIS) is an information technology company that provides digital workplace, cloud, and enterprise computing solutions. It operates through three segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure (CA&I), and Enterprise Computing Solutions (ECS). Its offerings include IT support services, cloud migration, cybersecurity, and ClearPath Forward. While we acknowledge the potential of UIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Goldman Sachs China Stocks: 10 Stocks to Buy and 10 Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing. Disclosure: None. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Unisys (UIS) Announces Pricing of $700 Million Senior Secured Notes Due 2031
Unisys Corporation (NYSE:UIS) is . On June 16, Unisys announced the pricing of its previously announced private offering of $700 million aggregate principal amount of Senior Secured Notes due 2031. This is a private offering extended to persons reasonably believed to be qualified institutional buyers. everything possible/ According to Unisys, the notes will be issued at par and carry an annual interest rate of 10.625%. The interest is payable semi-annually on January 15 and July 15, starting from January 15, 2026. The offering is anticipated to close on June 27, 2025, subject to customary closing conditions. Unisys intends to use the net proceeds from this offering to finance a cash tender offer and consent solicitation for all of its existing notes worth $485 million. The notes are due November 1, 2027. The proceeds will also cover related premiums, fees, and expenses, while another portion is earmarked to partially fund the company's U.S. pension plan deficit and postretirement liabilities. The remaining funds, if any, will be used for general corporate purposes. Unisys Corporation (NYSE:UIS) is an information technology company that provides digital workplace, cloud, and enterprise computing solutions. It operates through three segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure (CA&I), and Enterprise Computing Solutions (ECS). Its offerings include IT support services, cloud migration, cybersecurity, and ClearPath Forward. While we acknowledge the potential of UIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Goldman Sachs China Stocks: 10 Stocks to Buy and 10 Undervalued Blue Chip Stocks Analysts Recommend for Smart Investing. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Web Release
5 days ago
- Web Release
Tenable Research Finds Rampant Cloud Misconfigurations Exposing Critical Data and Secrets
Tenable®, the exposure management company, today released its 2025 Cloud Security Risk Report, which revealed that 9% of publicly accessible cloud storage contains sensitive data. Ninety-seven percent of such data is restricted or confidential, creating easy and prime targets for threat actors. Cloud environments face dramatically increased risk due to exposed sensitive data, misconfigurations, underlying vulnerabilities and poorly stored secrets – such as passwords, API keys and credentials. The 2025 Cloud Security Risk Report provides a deep dive into the most prominent cloud security issues impacting data, identity, workload and AI resources and offers practical mitigation strategies to help organizations proactively reduce risk and close critical gaps. Key Findings From The Report Include: ? Secrets Found in Diverse Cloud Resources, Putting Organizations at Risk: Over half of organizations (54%) store at least one secret directly in Amazon Web Services (AWS) Elastic Container Service (ECS) task definitions — creating a direct attack path. Similar issues were found among organizations using Google Cloud Platform (GCP) Cloud Run (52%) and Microsoft Azure Logic Apps workflows (31%). Alarmingly, 3.5% of all AWS Elastic Compute Cloud (EC2) instances contain secrets in user data — major risk given how widely EC2 is used. ? Cloud Workload Security Is Improving, But Toxic Combinations Persist: While the number of organizations with a 'toxic cloud trilogy' – a workload that is a publicly exposed, critically vulnerable, and highly privileged – has decreased from 38% to 29%, this dangerous combination still represents a significant and common risk. ? Using Identity Providers (IdPs) Alone Doesn't Eliminate Risk: While 83% of AWS organizations are exercising best practices in using IdP services to manage their cloud identities, overly-permissive defaults, excessive entitlements, and standing permissions still expose them to identity-based threats. 'Despite the security incidents we have witnessed over the past few years, organizations continue to leave critical cloud assets, from sensitive data to secrets, exposed through avoidable misconfigurations,' said Ari Eitan, Director of Cloud Security Research, Tenable. 'The path for attackers is often simple: exploit public access, steal embedded secrets or abuse overprivileged identities. To close these gaps, security teams need full visibility across their environments and the ability to prioritize and automate remediation before threats escalate. The cloud demands continuous, proactive risk management, and not reactive patchwork.' The report reflects findings by the Tenable Cloud Research team based on telemetry from workloads across diverse public cloud and enterprise environments, analyzed from October 2024 through March 2025. To download the report today, please visit:
San Francisco Chronicle
7 days ago
- Business
- San Francisco Chronicle
California insurance crisis could have dire consequences for affordable housing
Insurance bills have always been on the high side for Episcopal Community Services, a San Francisco nonprofit that operates more than 2,000 units of permanent supportive housing and serves a population insurers deem risky. But over the past few years, ECS has seen insurance costs skyrocket. Its premiums rose 84% last year, on top of 10% and 15% increases the previous two years. At the same time, ECS' deductibles quadrupled last year and reached $100,000 for some properties, forcing ECS to cover most of its own claims. Those rising costs were a factor in ECS' decision to lay off six employees this year, and staff members fear that continued increases could jeopardize essential but expensive ECS services, like the homeless shelter it operates or the seven hotels it leases for supportive housing. 'If we're gonna continue to operate the housing, we have to pay the insurance,' said Chris Callandrillo, ECS' chief program officer. 'We've got to get that from somewhere, and that burden is huge.' Across California, affordable housing developers say they're being squeezed by ever-rising premiums, increasingly convoluted coverage arrangements and deductibles so high that they're self-insuring for all but the most catastrophic losses. Advocates are pushing the federal government for relief in the form of subsidies for risk mitigation or the creation of a federally backed insurance product, but few solutions appear likely in the short term. According to an analysis of over 130 California properties financed by a key federal low-income tax credit and included in the national nonprofit Enterprise Community Partners' portfolio, median annual per-unit insurance expenses increased 142% from 2019 to 2024, from $409 to $989. From 2022 to 2024, some California affordable developers reported insurance expense increases as high as 500%. Without intervention, affordable housing providers say, these ballooning costs could force cuts to staffing or on-site services and imperil future projects at a time when demand for affordable units is as high as ever. The problem goes far beyond the affordable housing sector; statewide, insurers have sought perennial rate hikes, nonrenewed customers or ceased writing new policies as they grapple with wildfire-fueled losses and high construction costs. But over the past few years, insurance costs for affordable housing developments have been about 25% higher than for market rate developments in the same areas, said Jordann Coleman, senior vice president at Walnut Creek-based Heffernan Insurance Brokers, whose client base is 40% affordable housing. And affordable housing developers say they're especially vulnerable because they're already operating on razor-thin margins — and because unlike for their market-rate counterparts, the law limits their ability to pass on costs to tenants. 'Somebody's got to come up with a way to pay for that, and for us, it can't be rent,' said Linda Mandolini, CEO of Eden Housing, a Hayward developer with dozens of Bay Area affordable housing complexes. The amount Eden Housing has paid for insurance has risen every year since 2018, including a 20% jump this year on top of a 28% jump the previous year. Insurers have long considered affordable housing riskier to underwrite than market-rate housing — especially permanent supportive housing, where formerly homeless residents less used to living inside can spark fires or cause damage. But developers say insurance costs are out of step with claims, and they don't seem to take into account efforts to mitigate risks — such as hiring more security or replacing gas stoves with electric ones — or how affordable complexes can make neighborhoods safer and spur economic development over time. One insurer that writes policies for affordable housing developers declined to comment on its rationale for increasing premiums and deductibles, and another insurer did not respond to a request for comment. Before around 2020, it was possible to find a single insurer willing to underwrite an affordable housing provider's whole portfolio of properties, Coleman said. Now, she's sometimes working with up to 12 different insurers to piece together more scant coverage with higher deductibles — and each insurer has its own set of questions and restrictions. Coleman said she is increasingly reliant on more complicated risk-sharing arrangements, such as 'insurance towers' — Jenga-like stacks of policies where different insurers underwrite fractions of a single property (one of ECS' properties is underwritten by six insurers, Callandrillo said). In cases where clients have preexisting contracts that require lower deductibles than insurers are willing to grant, Coleman has also turned to deductible buy-down policies — additional coverage from a separate insurer that pays the difference in the case of a claim. 'The work is exponential, not just for us, but for our clients as well,' Coleman said. These days, it's rare that she has more than one option to offer a client. Most affordable developers are already working on shoestring budgets stretched thin by rising construction costs and still recovering from lower revenue from tenants who got out of the habit of paying rent during COVID-19. Because most expenses are nonnegotiables, such as payroll and maintenance, keeping up with insurance payments can mean dipping into funds earmarked for longer term projects. 'This is really depleting our property level reserve, our rainy day fund,' said Janelle Chan, CEO of East Bay Asian Local Development Corp., which has developed about 2,500 affordable units in Oakland. The nonprofit has diverted $12 million from its reserves over the last few years to pay for property expenses including insurance, increased utility costs and rent collection deficits, she said. As part of belt-tightening measures, the East Bay Asian Local Development Corp. is considering cutting community programming or stripping nice-to-have features from planned projects, Chan said. But if premiums stay high, affordable developers say, future projects could be in jeopardy if insurance — a prerequisite for securing loans — is just too expensive, or if developers' reserves have been too depleted to buy properties in the first place. 'We might have to put stuff on hold,' Mandolini said. Among Eden Housing's pipeline of 4,500 planned affordable homes is a complex for seniors at risk of homelessness in San Jose, converting the former Richmond Health Center into dozens of units of permanent supportive housing, and a 119-unit Liberation Park intended to revitalize a historically Black neighborhood in East Oakland. There's another even more serious risk: If mounting expenses cause developers to default, foreclosure can wipe out a property's low-income housing use designation — a more permanent setback for constructing affordable units. 'That's just a critical loss that can't be allowed to happen,' said Thom Amdur, senior vice president for policy and impact at Lincoln Avenue Capital, which invests in affordable housing across the country. Delays or defaults could threaten the region's ability to meet its housing goals. The Bay Area is required to plan to build close to 450,000 new units by 2031, of which 40% should be allocated for low- or very low-income residents, according to the state's Regional Housing Needs Determination. Affordable developers want the government to step in, either by subsidizing risk mitigation efforts or by stabilizing the insurance market through creating a federally backstopped insurance product or expanding FAIR plans — state-created insurers of last resort, such as the one in California — to cover more affordable housing. California lawmakers are considering a bill, AB1339, that would require the Department of Insurance to conduct a study on barriers to affordable housing insurance statewide. For now, developers continue to feel the squeeze. 'We're being asked to build more, and yet we are struggling to protect what we have,' Chan said. 'The candle's burning at both ends.'
Mint
19-06-2025
- Business
- Mint
ECS/NACH return charges: Meaning, penalties and how to avoid them
In the nation's rapidly evolving and digitising financial landscape, automated payment systems such as Electronic Clearing Service (ECS) and National Automated Clearing House (NACH) have become extremely vital and indispensable for recurring payments for services along with other related transactions. Still, in cases when these payments fail due to one reason or the other, customers are often hit with hefty return charges. Hence, in such a situation you should always keep these five essential points in mind to understand and know about ECS/NACH return charges better. The ECS/NACH mandates permit banks and financial institutions to automatically debit funds from your account for regular payments such as EMIs on personal loans, utility bills, mutual fund SIPs along with other similar transactions. Now in cases where such transactions fail, generally due to insufficient funds, technical glitches or incorrect details then a penalty is levied on the account holder. These charges are known as ECS/NACH return charges. The applicable return charges vary widely between different banks and financial institutions. They are also unique to the type of account an individual holds along with the specifics of the financial institution. For example, Axis Bank charges ₹ 500 for first ECS return and ₹ 550 for subsequent ones. Federal Bank on the other hand levies ₹ 250 for the first return and ₹ 500 for subsequent returns in savings accounts. Whereas for overdraft (OD) and cash credit (CC) accounts a fee of ₹ 350 is attracted for the first time and ₹ 750 for subsequent returns. The State Bank of India and Bank of India both charge ₹ 250 per return, with GST added. Now these fees can quickly climb and add up if multiple transactions fail in a single month. That is why as a well aware user of banking services while applying for a personal loan, credit card or any other related services it is your responsibility to be aware of several hidden charges imposed by banks. Do note, charges are imposed on account holders whenever an ECS/NACH transaction fails. Common reasons for these failures include insufficient funds, incorrect mandate details, technical errors. It is also important to acknowledge the fact that these charges are usually non refundable and are directly deducted from the account automatically. On your part as an account holder hence, do take care of your balance and upcoming transactions. So that you never miss out on any payments or none of your pending transactions are withheld or rejected due to insufficient funds, incorrect mandates etc. Given each charge may seem small individually still, multiple failed transactions can result in significant penalties. For example, if four SIPs of ₹ 500 each fail due to insufficient balance, then the total return charges can reach as much as ₹ 2360 after taxes. This figure is far exceeding the original investment amount in some cases. This can easily disrupt financial plans, long term wealth creation strategies and even strain your budget. Maintain sufficient balance in your account at least a day before any scheduled debit to prevent failed transactions. Track your payment schedules regularly so you're aware of upcoming ECS/NACH debits and avoid last-minute surprises. Update mandate details promptly if you change your bank account, contact info, or switch to a new service provider. Set up alerts and reminders through SMS or mobile banking to stay notified about low balances or due payments. Cancel inactive mandates by visiting your bank and submitting a written request, especially for services you no longer use. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
