Fake news causes erectile dysfunction pill maker to go vertical
GlobeNewswire, we meet again. . . Shares of Petros Pharmaceuticals, a developer of treatments for erectile dysfunction and penile deformity listed on the Nasdaq, are suspended 230% on apparently fake news that it is being acquired. Five minutes before the opening of the American markets, the GlobeNewswire The distribution platform sent out a statement announcing a $67.2 million bid from private equity group Henry Crown and Company. It was picked up to repeat on all the usual aggregation services, including Petros investor relations page. Just under an hour later (also via GlobeNewswire!) Petros”confirmed that a press release issued on July…
Read More »
China, Switzerland launch latest stage of cross-quotation exchange
China and Switzerland have completed another part of their tie-up on a joint stock trading and listing platform. The last stage, part of a project started in 2019 by Swiss stock exchange SIX and the Shanghai and Shenzhen stock exchanges, saw the establishment of the Swiss part of the operation. The platform, Stock Connect, provides a cross-listing framework that enables companies to raise capital by issuing and listing Global Depositary Receipts (GDRs) on SIX and Chinese Depositary Receipts on Chinese stock exchanges. Four Chinese companies active in clean energy and battery technology are listing GDRs on SIS: Keda Industrial Group…
Read More »American Express Global Business Travel to report Q2 2022 financial results on August 11, 2022
NEW YORK–(BUSINESS THREAD)–American Express Global Business Travel (“Amex GBT”) (NYSE: GBTG), the world’s leading B2B travel platform, today announced that it will report second quarter 2022 financial results on August 11, 2022 before the market opens followed by a live audio webcast at 9:00 a.m. ET. Paul Abbott, Managing Director, and Martine Gerow, Chief Financial Officer, will discuss Amex GBT’s financial performance and business outlook. The webcast is expected to last approximately one hour and can be accessed by visiting the Investor Relations section of the Amex GBT website at www.investors.amexglobalbusinesstravel.com. A replay of the webcast will be available on…
Read More »Hemisphere Media Group announces certain preliminary financial results for the second quarter of 2022
MIAMI, July 28, 2022 /PRNewswire/ — Hemisphere Media Group, Inc. (NASDAQ: HMTV) (“Hemisphere” or “the “Company”), the only publicly traded US pure-play media company targeting the high-growth Hispanic and Latin American markets with leading cable and broadcast platforms and digital content, today announced preliminary estimated ranges for certain items in the income statement and balance sheet for the second quarter ended June 30, 2022. President and CEO of Hemisphere, Alan Sokolsaid: “Our preliminary second quarter results demonstrate the resilience of our business, even amid a challenging operating environment. WAPA continued to build on its leadership position in premium content, representing…
Read More »
The gas crisis increases the risk of recession for the euro zone economy affected by inflation
The eurozone is expected to post growth slightly above zero in the second quarter, but economists expect a steady deterioration in the bloc’s economy over the next year as recession risks loom. Eurostat’s first estimate of second-quarter gross domestic product, released on Friday, is expected to show a 0.1 percent expansion from the previous quarter, according to a Reuters poll. That marks a sharp deterioration in growth from 0.6% in the previous three months and would be the weakest performance since a surge in coronavirus infections and restrictions dragged the bloc into a brief recession in early 2021. Russia’s invasion…
Read More »Citi joins the Economic Opportunity Coalition as a founding member to accelerate financial inclusion for all
NEW YORK–(BUSINESS THREAD)–Citi today announced its participation as a founding member of the Economic Opportunity Coalition (“EOC”). This is an effort by the Biden-Harris Administration to catalyze and align public and private investments that will address economic disparities and accelerate economic opportunity in underserved communities across the US. The newly created program consists of corporations and foundations, all of which are committed to aligning significant investments in underserved communities with investments made by the Biden-Harris Administration. “At Citi, we recognize that closing the racial wealth gap is imperative not only for communities but for businesses. We need collective action from…
Read More »Ceros Financial Services announces a collaboration agreement with Forte Capital Group
MIAMI, July 28, 2022 /PRNewswire/ — Zero Financial Services announced that it has reached a partnership agreement with Forte Capital Group, a financial advisory firm based in New York with approximately 1 billion dollars in client assets and 45 registered representatives and its subsidiary, Innovation X Advisors, a leading late-stage venture capital firm. The Innovation X fund family is over 2 billion dollars of capital commitments and have made many successful exits, including Airbnb, Spotify, Uber, Palantir and Pinterest. Terms of the transaction were not disclosed. “We think Forte will be a highly strategic addition to both our Ceros Capital…
Read More »
Cincinnati Financial reports second-quarter net loss of $808 million
Cincinnati Financial Corporation has reported a net loss of $808 million for the second quarter of 2022, down from net income of $703 million in the same period last year. The loss was primarily due to the recognition of an after-tax write-down of $928 million in the fair value of equity securities still held, the firm noted. The company also reported a $1.511 billion decrease in net income for the second quarter of 2022, compared to the same period last year, primarily due to the net after-tax effect of a $1.323 billion decrease in net investment earnings and a $216…
Read More »