Month: July 2022

BEIJING (AP) — Asian stocks were mostly higher on Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation. Shanghai, Hong Kong and Seoul advanced. Tokyo went down. Oil rose more than $1 a barrel. Wall Street ended up 0.1% on Monday ahead of this week’s Fed meeting where officials are expected to announce a rate hike of up to three-quarters of a percentage point, triple the usual margin. That would put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest since 2018 before the coronavirus pandemic. Mixed market…

WASHINGTON – The House Ethics Committee has voted unanimously to dismiss referrals against Rep. Pat Fallon, R-Sherman, and two other House members for failing to timely report personal financial transactions. The Office of Congressional Ethics released a report earlier this year documenting a pattern of late filing by Fallon of legally required periodic transaction reports. The report called for the committee to investigate further and issued subpoenas to compel Fallon’s full cooperation. But the committee instead sided with Fallon’s lawyer, who made the late filings as a first-year House member who tripped over unfamiliar rules that have tripped up many…

Hospices considering a sale should not underestimate their value proposition by limiting their focus on revenue and margins. With hospice M&A staying hot, a number of operational and financial pressures, along with record valuations in the space, have led several providers to consider selling. While a healthy balance sheet is central to these negotiations, it is not where a hospice’s financial value begins and ends. Compared to starting a hospice from scratch, an acquisition can offer buyers some advantages, according to Mark Sharp, a partner at accountancy and advisory firm FORVIS. “If hospices are looking for an exit because they…

NASHVILLE, Tenn. (AP) – The Republican tussle to determine who tries to flip a Democratic congressional seat in Nashville this fall has entered its final week, awash with attacks, a candidate’s campaign finance issues and even a lawsuit over an ad of television As early voting ends in the Aug. 4 primary election, voters in Tennessee’s open 5th Congressional District have become familiar with non-stop TV ads from vaguely named groups blasting any of the top three hopeful fundraisers in the nine-candidate Republican field: Maury County Mayor Andy Ogles, former state House Speaker Beth Harwell and retired Tennessee National Guard…

MOUNDSVILLE — Thousands of students in several states, including Ohio and West Virginia, now have access to an online financial literacy program thanks to a sponsorship from Bayer Heritage Federal Credit Union. Bayer Heritage FCU, which has branches in Moundsville, New Martinsville and Proctor, has helped provide free access to the Ban Bayer Heritage FCU increased to facilitate partial or full distance learning in the wake of COVID-19. Thanks to their sponsorship, more than 21,342 students and teachers in 86 schools in West Virginia, Pennsylvania, South Carolina, Ohio and Texas have free access to Banzai. Banzai is an award-winning online…

CHARLESTON – Five major financial institutions are now ineligible for state banking contracts because of their environmental policies, and are on West Virginia’s first list of restricted financial institutions. West Virginia State Treasurer Riley Moore announced Thursday that BlackRock Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co. they are involved in boycotts of fossil fuel companies, according to a new state law and are no longer eligible to enter into state banking contracts with their office. A sixth company, US Bancorp, was initially identified as potentially involved in boycotts of energy companies,…

A former Deutsche Bank bond banker who left the German lender in January has resurfaced in a new role. Frazer Ross, a 21-year veteran of Deutsche Bank who left earlier this year, is now head of debt capital markets in Australia at French bank Natixis. Ross, who is Australian, was previously head of investment grade debt syndicate at Deutsche Bank for EMEA based in London. He left the German lender in January to take a sabbatical from the industry, according to Global Capital. TO READ 16-hour days and virtual roadshows: how bankers manage a record debt bonanza from home Ross…