Category: Finance

Campaign finance inquiry into Rick Scott ends in deadlock

A three-year probe into Sen. Rick Scott has ended with a federal panel deadlocked on whether the Florida Republican and a political committee he once led violated campaign laws during his 2018 bid for U.S. Senate.

A 3-3 split decision along party lines by the Federal Election Commission, made public Friday, comes despite the commission’s general counsel concluding there was reason to believe Scott broke the law. The general counsel recommended further investigation into Scott and his former political committee, New Republican PAC.

In a blistering critique of the stalemate dated Thursday, the commission’s chairperson, Shana Broussard, and

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GUUD Discusses FinTechs’ Trade Finance Pains

Trade finance has become a popular target of FinTech innovators looking to disrupt what has been, for decades, a manual, paper-based process.

Traditional banks are unsurprisingly not always invested in revamping their own trade finance operations. The costs associated with acquiring, underwriting and managing a trade financing facility are high and rarely worth the expense, considering the volume of small and medium-sized businesses (SMBs) that need funding for lower-value transactions.

FinTechs are moving into the space in an effort to digitize and automate many of those workflows for banks — or to connect SMBs to alternative sources of finance. Yet 

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Eagle Mill lands $16M in state financing; project could begin by year’s end | News

LEE — The Eagle Mill developer has landed an eight-figure sum in state financing that likely will jump-start the reuse of the former papermaking factory by year’s end.

The Massachusetts Department of Housing and Community Development has awarded Eagle Mill Redevelopment LLC $16 million in housing tax credits to finance the construction of 56 affordable and market-rate housing units in the historic Union Mill and Eagle Mill buildings.

In all, the mixed-use project will have 122 apartments; the other 66 will be located in newly constructed buildings in the eastern portion of the downtown property. In addition, six condominiums

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Kamala Harris fundraiser Jon Henes to launch corporate advisory firm

Vice President Kamala Harris’ former national campaign finance chair is opening a strategic advisory firm that will aim, in part, to guide corporations and C-suite executives through handling social justice and politically charged issues.

Jon Henes, a longtime corporate restructuring attorney at the prominent law firm Kirkland & Ellis, plans to launch his new New York-based firm around Labor Day, according to people briefed on the matter.

The firm is planning to hire at least 15 people at first, and it could expand operations to Washington, D.C., Los Angeles and San Francisco, a person said.

The advisory firm will have

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Bondly Finance urges users to stop trading following alleged exploit

Decentralized e-commerce platform Bondly Finance is the latest decentralized finance (DeFi) platform to suffer an alleged exploit. The developer team advised the DeFi community to stop trading Bondly, the platform’s native token, following a suspected exploit on July 15. 

Bondly Finance has yet to provide details regarding the attack, aside from being compromised by an unknown party. “Rest assure, we have already taken action and will be operating as usual as soon as possible,” the official announcement reads.

Bondly token price tanked more than 60{6076a8df91bdf184aec6ec8d55e2cabc0b8c0345d5e830fb5a1c8c388976da2c} within three hours following the attack. PeckShield, a blockchain security and data analytics company, explained

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Know details here of Rs 700 crore initial public offering

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Jana Small Finance Bank has received markets regulator Sebi’s go-ahead to raise funds through an initial share-sale.

The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs 700 crore and an offer for sale of up to 92,53,659 shares by existing shareholders, according to the draft red herring prospectus (DRHP).

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Those selling shares in the offer for sale include Bajaj Allianz Life Insurance Company, Hero Enterprise Partner Ventures, ICICI Prudential Life Insurance Company, Enam Securities, North Haven Private Equity Asia Platinum Pte Ltd, QRG Enterprises

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