Category: Business

Business News from around the world.

Natuzzi Announces Consolidated Results for the Third Quarter and First Nine Months Of 2020

Branded Business up 4.0% Over Prior Year Third Quarter Double-Digit Growth in June-to-Date Written Orders Improved Industrial Margin Despite Supply-Chain Challenges 3Q2020 Operating Result Almost at Break-Even Finalized a New External Production Partnership in Eastern Europe Order Backlog Increased SANTERAMO IN COLLE, Bari, Italy–(BUSINESS WIRE)–The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or …

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Spring Valley Acquisition Corp. Completes $230 Million Initial Public Offering

DALLAS–(BUSINESS WIRE)–Spring Valley Acquisition Corp. (the “Company”), a blank check company sponsored by Pearl Energy Investment II, L.P. (“Pearl”) and formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of …

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Tiga Acquisition Corp. Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Units

SINGAPORE–(BUSINESS WIRE)–Tiga Acquisition Corp. (the “Company”) (NYSE: TINV.U) today announced the closing of its initial public offering of 27,600,000 units, which includes 3,600,000 units issued upon the exercise of the underwriters’ overallotment option, which was exercised in full, at a public offering price of $10.00 per unit, resulting in gross proceeds of $276 million. Each …

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Applied DNA to Present at the Imperial Capital 2020 Security Investor Conference on December 3

STONY BROOK, N.Y.–(BUSINESS WIRE)–$APDN–Applied DNA Sciences, Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”), a leader in Polymerase Chain Reaction (PCR)-based DNA manufacturing, announced that it is scheduled to participate virtually in the Imperial Capital 2020 Security Investor Conference on Thursday, December 3, 2020. Dr. James A. Hayward, chief executive officer, will present at 10:45 …

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Pandemic Intensifies Margin Pressure on Automotive Suppliers; Sales Expected to Decline Globally by 15 to 20 Percent In 2020

EBIT margins fell to a historic low of 1.7 percent in the first half of 2020 Car sales in North America and Europe expected to reach pre-crisis levels only after 2026 Suppliers must balance restructuring and strategic realignment MUNICH/FRANKFURT–(BUSINESS WIRE)–Electromobility, autonomous driving and digital transformation of cars: Technological change continues to put pressure on margins …

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Lufax to Announce Third Quarter 2020 Financial Results on December 1, 2020

SHANGHAI–(BUSINESS WIRE)–Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU), a leading technology-empowered personal financial services platform in China, today announced that it plans to release its third quarter 2020 financial results after the market closes on Tuesday, December 1, 2020. The Company’s management will hold an earnings conference call at 8:00 P.M. U.S. Eastern …

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Best’s Commentary: Australia Business Interruption Test Case Raises More Questions than Answers for Insurers

SINGAPORE–(BUSINESS WIRE)–Following the outcome of an Australian legal test case that considered the application of certain infectious disease exclusions in business interruption policies going against the insurance industry, some insurers are looking to reinforce their claims provisions and execute capital raising actions to bolster their solvency positions, according to a new AM Best commentary. The …

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Duddell Street Acquisition Corp. Announces the Separate Trading of Its Class A Ordinary Shares and Warrants Commencing November 30, 2020

HONG KONG–(BUSINESS WIRE)–Duddell Street Acquisition Corp. (the “Company”) announced today that, commencing November 30, 2020, holders of the units sold in the Company’s initial public offering of 17,500,000 units, completed on November 2, 2020, may elect to separately trade the shares of Class A ordinary shares and warrants included in the units. Those units not …

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Apartment Investment and Management Company Sets Ratio for Reverse Stock Split

DENVER–(BUSINESS WIRE)–Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) today announced that a committee of its Board of Directors has established 1-for-1.23821 as the ratio for the previously-announced reverse stock split of its outstanding shares of common stock. The reverse stock split will become effective on November 30, 2020, immediately after the issuance of shares …

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TPG Pace Tech Opportunities Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants Commencing November 27, 2020

SAN FRANCISCO & FORT WORTH, Texas–(BUSINESS WIRE)–TPG Pace Tech Opportunities Corp. (the “Company”) announced that, commencing November 27, 2020, holders of the units sold in the Company’s initial public offering of 45,000,000 units completed on October 9, 2020 may elect to separately trade the Class A ordinary shares and warrants included in the units. Class …

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The Simple Greek Delivers “Bowls of Hope” This Holiday

YOUNGSTOWN, Ohio–(BUSINESS WIRE)–#foodinsecurity–The Simple Greek has answered the call from Founder Marcus Lemonis, best known for his long running hit show CNBC’s “The Profit,” to battle food insecurity in local communities through his new initiative, Plating Change. Marcus will be connecting with notable friends including Kristen Bell, Alex Rodriguez, and Pharrell Williams amongst others across …

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Brighthouse Financial Announces Pricing Terms of Cash Tender Offers for 3.700% and 4.700% Senior Notes

CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (the “Company” or “Brighthouse Financial”) (Nasdaq: BHF) announced today the pricing terms for its previously announced cash tender offers (each, an “Offer” and, collectively, the “Offers”) for the Notes set forth below. The terms and conditions of the Offers are described in the Offer to Purchase for Cash, dated November …

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World Insurance Associates Acquires Flanagan Associates, LLC

TINTON FALLS, N.J.–(BUSINESS WIRE)–#acquisitions–World Insurance Associates LLC (WIA), a Top 100 insurance brokerage, announced today that it acquired Flanagan Associates, LLC (“Flanagan”) of North Haven, CT on November 1, 2020. Terms of the transaction were not disclosed. Established over 30 years ago, Flanagan Associates has over three decades of experience in personal, commercial, and life …

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PureFacts Financial Solutions Closes $20 Million Financing Round

TORONTO–(BUSINESS WIRE)–#AI—PureFacts Financial Solutions, a leading global WealthTech provider of fees, reporting and AI-powered predictive analytics solutions, is pleased to announce it has closed a CAD $20 million financing from Scotiabank and Round 13 Capital. The financing, which builds on existing relationships with Scotiabank and Round 13 Capital, will facilitate PureFacts’ aggressive global growth plans …

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KBRA Assigns Preliminary Ratings to CBAM 2020-13, Ltd.

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of notes issued by CBAM 2020-13, Ltd. (CBAM 2020-13), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated senior secured leveraged loans. CBAM 2020-13 is managed by CBAM Partners, LLC (CBAM or the collateral manager) and …

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UBS Declares Quarterly Coupon Payments on Exchange Traded Note: AMUB

NEW YORK–(BUSINESS WIRE)–UBS Investment Bank today announced coupon payments for the ETRACS Alerian MLP Index ETN Series B (NYSE Arca: “AMUB”), traded on the NYSE Arca. NYSE Ticker ETN Name and Prospectus/ Pricing Supplement* Valuation Date Ex- Date Record Date Payment Date Coupon Amount Payment Schedule Current Yield (annualized)** AMUB ETRACS Alerian MLP Index ETN …

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MEDIROM Healthcare Technologies Inc. Announces Filing of Registration Statement for Proposed Initial Public Offering on NASDAQ

TOKYO–(BUSINESS WIRE)–MEDIROM Healthcare Technologies Inc. (“MEDIROM”), the healthcare company which runs branded relaxation salons in Japan, today announced it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its American Depositary Receipts which represent the common shares of the …

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Cash App Announces Definitive Agreement to Acquire Credit Karma Tax

Cash App will provide millions of Americans with the ability to electronically file their taxes SAN FRANCISCO–(BUSINESS WIRE)–Square, Inc. (NYSE: SQ) has entered into a definitive agreement with Credit Karma to acquire its tax business, Credit Karma Tax, on behalf of Cash App, the financial services app that allows individuals to spend, send, store and …

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