Latest news with #Purchase
Yahoo
8 hours ago
- Business
- Yahoo
MBIA Inc. Investor Conference Call to Discuss Second Quarter 2025 Financial Results Scheduled for Thursday, August 7 at 8:00 A.M. Eastern Time
PURCHASE, N.Y., July 31, 2025--(BUSINESS WIRE)--MBIA Inc. (NYSE:MBI) will host a webcast and conference call for investors on Thursday, August 7 at 8:00 a.m. (ET) to discuss its second quarter 2025 financial results and other issues related to the Company. The dial-in number for the call is 800-343-5172 in the U.S. and 203-518-9856 from outside the U.S. The conference call code is MBIAQ225. A live webcast of the conference call will also be accessible on The conference call will consist of brief comments on the second quarter 2025 results followed by a question and answer session for investors. MBIA's financial results report and 10-Q filing will become available after the market closes on Wednesday, August 6. The financial results report, 10-Q and other disclosures will be posted on the Company's website, prior to the start of the conference call. A replay of the conference call will become available approximately two hours after the completion of the call and will remain available until 11:59 p.m. on August 14 by dialing 800-839-4016 in the U.S. or 402-220-7240 from outside the U.S. The replay of the call will also be available on the Company's website. MBIA Inc., headquartered in Purchase, New York, is a holding company whose subsidiaries provide financial guarantee insurance for the public and structured finance markets. Please visit MBIA's website at View source version on Contacts MBIA Diamond, 914-765-3190Managing DirectorHead of Investor and Media 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
Daily Mirror
14 hours ago
- Automotive
- Daily Mirror
Major car finance ruling could see 23 million drivers owed compensation
The outcome of Supreme Court ruling on hidden commission paid to car dealers could 'shake the foundations' of consumer lending, says Martin Lewis, with implications for the wider economy Millions of motorists could be due compensation depending on the outcome of a bombshell car finance court on Friday. Banks are already braced for a big payout, with some estimates putting the bill at up to £30billion. Consumer champion Martin Lewis warned the outcome of the case had huge economic and political implications and could 'shake the foundations' of consumer lending. The controversy centres on hidden commission pocketed by car dealers from banks and other finance firms. And the higher interest rate buyers paid, the bigger the commission. The Supreme Court 's ruling - which isn't expected until 4.35pm after stock markets have closed for the day - could dramatically widen the number of potential victims. Mr Lewis, founder of said: 'This is going to be a shock announcement coming. It has ramifications not just for car finance firms but right across the financial services sector. Depending on what the decision is, it could even have ramifications across the economy.' One survey suggested over 23 million people are expecting to win compensation for mis-sold car loans. It comes after a major broadband provider introduced a new £60 charge and issued a deadline to act. However, reports suggest the Supreme Court may provide some relief for lenders, prompting analysts to cut their payout forecasts. The anticipated ruling by the highest court in the land has proved political implications too, with Chancellor Rachel Reeves concerned that a hefty compensation bill will mean less money for banks to lend out, in another potential drag on economic growth. The vast majority of new - and many second hand - cars are bought on finance agreements under which buyers normally put down a deposit and take out a loan for the remainder. But it is claimed dealers were signing-up buyers to Personal Contract Purchase (PCP) or Higher Purchase deals and then, unknown to the customers, taking a fat fee - or Discretionary Commission Arrangements (DCA) - between 2007 and 2021. These account for about 40% of car finance deals. If that were not bad enough for lenders, the Court of Appeal - the second highest court in the land - sent shockwaves through the industry with a ruling last year. It decided that, if the level of commission was not disclosed, then that too was a breach of the rules. The consequence was that it would widen the scope of compensation to include 99% of all car loans. It is on this case - involving Commission Disclosure Complaints - that the Supreme Court is ruling. Mr Lewis said: 'If the Supreme Court upholds the Court of Appeal's decision the knock on effects could be substantial on other forms of lending and on the economy. To be honest it could shake the foundations of consumer lending in the country, meaning less possible available credit for many. So much so that I have concerns that it could do more harm than good.' City regulator the Financial Conduct Authority launched an investigation into DCA mis-selling in January last year. The FCA has said it will decide within six weeks of the Supreme Court decision whether to introduce a free industry redress scheme for motor finance customers. It comes amid concerns that people risked losing up to 30% of any payout by signing-up to paid schemes they do not need. The FCA and the Solicitors Regulation Authority (SRA) are warning law firms and claims management companies (CMCs) to ensure they are complying with rules around how motor finance commission claims should be handled. They want such firms to inform clients of the existence of the redress scheme, if and when it is set up, which would allow them to pursue a claim for themselves, free of charge. Paul Philip, chief executive of the SRA, said: 'We are very concerned about some of the practices we are seeing in the motor finance commission claim market. Law firms have a regulatory duty to act in the best interests of their clients. But if they mislead clients, fail to get their explicit consent, do not explain cost information clearly or are not sharing the required information on free alternative routes before signing them up, they are clearly failing to meet their obligations.'
Time of India
2 days ago
- Business
- Time of India
Jakson Green signs first wind Power Purchase Agreement with GUVNL for 100 MW project
Green energy transition platform Jakson Green on Wednesday said through its subsidiary JGRJ Three Solar Private Ltd it has signed its first wind Power Purchase Agreement with Gujarat Urja Vikas Nigam Ltd ( GUVNL ) for a 100 MW project . The two companies have signed a 25-year Power Purchase Agreement (PPA) at a tariff of Rs 3.59 per unit, under GUVNL's Wind Tender (Phase VIII), a company statement said. Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Degree Management Healthcare Finance Artificial Intelligence Digital Marketing Others PGDM Project Management others Technology Data Science Public Policy Data Science Product Management CXO MBA Leadership healthcare MCA Design Thinking Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details This 100-MW Gujarat-based project is expected to deliver over 300,000,000 kWh units of energy annually, offsetting approx. 250,000 tonnes of CO₂ emission in a year. The energy generated from the power project will be procured by GUVNL, a company statement said. "Our first wind power PPA with GUVNL marks our entry into utility-scale wind energy. This is a natural progression for Jakson Green, building on our solar and hybrid portfolio , and underscores our commitment to diversifying our green energy solutions and accelerating India's transition to a sustainable future," Kannan Krishnan, Managing Director of Jakson Green, said. Live Events The project is expected to become operational within 24 months. "India's immense wind energy potential, estimated at over 695 GW, positions our country as one of the global leaders in installed wind capacity," says Krishnan Rajagopalan, Head - IPP, Jakson Green. Rajagopalan further noted that "this vast resource, especially in states like Gujarat, provides a viable pathway to a sustainable energy future for the nation, and we are committed to playing a role in harnessing it." Jakson Green is a green energy transition platform, offering engineering, procurement and construction (EPC) and operations and maintenance (O&M) services for renewables and green molecule projects in the domestic and international markets and is backed by the Jakson Group.
Bangkok Post
3 days ago
- Business
- Bangkok Post
PTTEP Acquires Block A-18 Stake to Bolster Energy Security
Bangkok, July 25, 2025 – PTTEP has acquired a 50% participating interest in Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA) which is strategically important to Thailand's energy security, and supporting company's growth. Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stated that PTTEP Joint Development SG PTE. LTD., the company's subsidiary, has signed a Sale and Purchase Agreement (SPA) to buy 100% of the outstanding shares of Hess International Oil Corporation, which, through its subsidiaries, holds a 50% participating interest in Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA) — a natural gas resource fundamental to electricity generation for Thailand's southern region. The base consideration was USD 450 million, subject to normal purchase price adjustments. Both sellers, Hess (Bahamas) Limited and Hess Asia Holdings Inc., are wholly owned, subsidiaries of Chevron following the Chevron and Hess merger. This transaction is now completed and immediately enhances PTTEP's gas production volume and petroleum reserves, and increases the company's investment in the MTJDA from the existing 50% participating interest in Block B-17-01. Block A-18 currently produces 600 million standard cubic feet of natural gas per day (MMSCFD) which is equally distributed to Thailand and Malaysia. The 300 MMSCFD supplied to Thailand accounts for 6% of the country's domestic gas demand. 'PTTEP is pleased to further expand our operations in the MTJDA, which is recognised for its petroleum potential and strategic significance to Thailand's energy security. The acquisition also contributes to the company's growth. Apart from the existing producing fields, Block A-18 includes several discovered gas fields awaiting development to unlock their full potential. Participation in Block A-18 also fosters operational synergy with Block B-17-01, enhancing efficiency to ensure continuous and accelerated energy supply for both countries,' said Mr. Montri. Upon completion of the acquisition, the development of additional production wells and wellhead platforms, along with gas construction of gas pipelines, will be carried out to support a consistent and reliable gas supply. MTJDA is located in the southern part of the Gulf of Thailand. Covering an area of approximately 7,250 square kilometres, it is a key source of natural gas and condensate for Thailand and Malaysia. Block A-18 which includes Cakerawala, Bumi, Suriya, Bulan, and Bulan South fields, started production in 2005. Block B-17-01 began production in 2010. The block includes Muda, Tapi, Tanjung, Amarit, Jengka, Melati, and Andalas fields, and currently produces approximately 300 MMSCFD of natural gas for Thailand and Malaysia.
Business Insider
4 days ago
- Business
- Business Insider
Mill City Ventures III, Ltd. Announces $450,000,000 Private Placement to Initiate Sui Treasury Strategy
Wayzata, United States / Minnesota, July 28th, 2025, Chainwire Mill City Ventures III, Ltd. Announces $450,000,000 Private Placement to Initiate Sui Treasury Strategy Upon the closing of the Private Placement, Mill City will adopt a Sui Treasury Strategy Mill City intends to continue its short-term non-bank lending and specialty finance business Marius Barnett and Stephen Mackintosh, Co-founders of Karatage, will become Chairman of the Board of Directors of the Company and Chief Investment Officer of the Company, respectively, effective upon the closing of the Private Placement Industry-First Relationship with Sui Foundation Provides Institutional-Grade Gateway for Exposure to Only Blockchain Built for Mass Adoption Mill City Ventures III, Ltd. (" Mill City" or the ' Company ') (NASDAQ:MCVT), a non-bank lender and specialty finance company, today announced that it has entered into securities purchase agreements (the ' Securities Purchase Agreements ') for a private investment in public equity for the purchase and sale of 83,025,830 shares of common stock (or common stock equivalents in lieu thereof) at a price of $5.42 per share for expected aggregate gross proceeds of approximately $ 450,000,000, before deducting placement agent fees and other offering expenses (the ' Private Placement ', or the ' Offering '). Karatage Opportunities (' Karatage '), the London-based proprietary hedge fund specializing in digital assets and emerging technology investments, founded by Marius Barnett and Stephen Mackintosh, acted as the lead investor, with an equivalent investment from the Sui Foundation, an independent organization dedicated to the advancement and adoption of the Sui network. As a significant early investor in the Sui ecosystem, Karatage has established itself as a strategic partner to Mysten Labs, the original contributors to Sui, with deep operational experience across the Sui network. The Offering included participation by prominent firms and infrastructure providers Big Brain Holdings, Galaxy Digital Inc (Nasdaq: GLXY) and Dr Jack Kong – NLABS Fund as well as investment from Pantera Capital , M2, Electric Capital, GSR, Selini, Protagonist, ParaFi Capital, Borderless, dao5, Arrington Capital, Comma3 Ventures, FalconX, Paper Ventures and Maven 11 amongst others. Galaxy Asset Management will serve as the Asset Manager. The closing of the Offering is expected to occur on or about July 31, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use approximately 98% of the net proceeds from the Private Placement to acquire the native cryptocurrency of the Sui blockchain commonly referred to as 'SUI', and approximately 2% of the net proceeds from the Private Placement to fund the Company's short-term lending business. SUI will serve as the Company's primary treasury reserve asset. A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the offering. Upon closing of the Offering, the Company intends to appoint two new members to the Company's board of directors (the ' Board '). The new Board members provide the strong and experienced leadership the Company needs as the Company pivots to a SUI treasury strategy: Marius Barnett (Co-Founder of Karatage) will serve as the Chairman of the Board. A veteran operator and investor in digital assets, Mr. Barnett has a track record in building businesses across real estate, infrastructure and energy. Dana Wagner will serve as an independent Board Director. As a current board member at Coinbase Custody Trust Company and former general counsel at Square, Mr. Wagner has served in senior-level legal roles for category-defining firms at the cutting edge of financial technology. Stephen Mackintosh (Co-Founder and General Partner at Karatage) will serve as the Company's Chief Investment Officer. With previous experience in artificial intelligence and deep tech, Mr. Mackintosh brings extensive experience across the Sui ecosystem as he manages the SUI treasury strategy for the Company. 'We're launching at a pivotal moment when both institutional crypto and AI are reaching critical mass — creating significant opportunities across blockchain infrastructure,' said Stephen Mackintosh, the proposed Chief Investment Officer of Mill City and General Partner at Karatage. 'We believe that Sui is well positioned for mass adoption with the speed and efficiency institutions require for crypto at scale, plus the technical architecture capable of supporting AI workloads while maintaining security and decentralization.' 'Sui was built to provide the scalability, speed, and security needed to support the next generation of decentralized applications and real-world crypto use-cases for consumers and institutions alike — from stablecoins to artificial intelligence to gaming and broader finance,' added Christian Thompson, Managing Director at the Sui Foundation. Mill City intends to acquire SUI tokens on the open market, as well as via institutional-grade deal flow typically reserved for crypto funds and a negotiated purchase and sale agreement with Sui Foundation — a treasury strategy now accessible through a publicly traded structure with daily liquidity. As the sole SUI treasury with support from the Sui Foundation, Mill City and the Sui Foundation team will share information about the technology and ecosystem growth, establishing it as one of the only foundation-supported crypto treasury strategies. 'The future belongs to crypto, AI, and stablecoins — and they all need infrastructure that can handle real scale. That's Sui,' said Adeniyi Abiodun, Co-Founder and Chief Product Officer of Mysten Labs. 'We believe that everything has been leading up to the right time to make Sui's founding vision a reality — and in our view, the moment is now.' The Offering is being made in reliance on an exemption from the registration requirement under Section 4(a)(2) of the Securities Act of 1933, as amended (the " Securities Act"), and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the Private Placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Pursuant to the terms of the Securities Purchase Agreement, the Company will file a registration statement with the Securities and Exchange Commission (the ' SEC ') registering the resale of the shares of common stock sold in the Private Placement. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Advisors Sullivan & Worcester LLP is acting as legal advisor to A.G.P./Alliance Global Partners. Loeb & Loeb LLP is acting as legal advisor to Mill City. Akin Gump Strauss Hauer & Feld LLP is acting as legal advisor to Karatage. O'Melveny & Myers LLP is acting as legal advisor to Sui Foundation. About Mill City Ventures III, Ltd. Founded in 2007, Mill City Ventures III, Ltd., is a specialty finance company focused on short-term lending and structured finance solutions. The company provides capital to businesses through secured loan agreements, offering investors attractive returns with a focus on security and risk mitigation. More information about the company can be obtained at or Upon closing of the Private Placement, the Company expects to adopt a SUI treasury strategy. About Karatage Opportunities Karatage is a London-based proprietary hedge fund specializing in emerging technology investments across digital assets, artificial intelligence, and gaming. Founded by Marius Barnett and Stephen Mackintosh, Karatage focuses on identifying and backing high-growth projects building next-generation technology with mass-market appeal. As a significant early investor in the Sui ecosystem, the Karatage team brings deep operational experience across the blockchain ecosystem. For more information about Karatage, please visit Upon the closing of the Private Placement, Marius Barnett and Stephen Mackintosh, Co-founders of Karatage, are expected to become Chairman of the Board and Chief Investment Officer of the Company, respectively. Forward-Looking Statement Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, statements regarding the anticipated closing of the Offering, the anticipated receipt of proceeds from the Offering, the Company's anticipated use of the proceeds from the Offering, opportunities that the Offering will create, Sui's capabilities as a blockchain and the opportunities Sui creates, the belief that the new Board members will provide strong and experienced leadership to the Company, the execution of the Company's treasury strategy, the anticipated filing of a registration statement and the Company's ability to cause it to be effective and maintain its effectiveness, and other statements that are not historical facts, including statements which may be accompanied by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential' or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's satisfaction of closing conditions for the offering, fluctuations in the market price of SUI and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SUI below the value at which the Company's SUI are carried on its balance sheet, changes in the accounting treatment relating to the Company's SUI holdings, the Company's ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our SUI treasury strategy, the risk that SUI is classified as a security under current or future regulatory frameworks and the risk that the Company is deemed an investment company as a result of its ownership of SUI, the demand for its products and its customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company's annual report and other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release. Contact Chief Financial Officer Joseph A. Geraci
