Freedominst http://freedominst.org/ Fri, 30 Sep 2022 13:17:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://freedominst.org/wp-content/uploads/2021/03/cropped-favicon-32x32.png Freedominst http://freedominst.org/ 32 32 EY joins Enterprise Ethereum Alliance board to advance Ethereum commercial readiness http://freedominst.org/ey-joins-enterprise-ethereum-alliance-board-to-advance-ethereum-commercial-readiness/ Fri, 30 Sep 2022 13:00:00 +0000 http://freedominst.org/ey-joins-enterprise-ethereum-alliance-board-to-advance-ethereum-commercial-readiness/

WAKEFIELD, Mass.–(BUSINESS WIRE)–The Enterprise Ethereum Alliance (EEA) today announced the advancement of longtime EEA member Ernst & Young (EY) to the Board of Directors, the highest level of the organization. Additionally, EEA announced that EY’s global blockchain leader, Paul Brody, will act as a representative of the company’s EEA Board of Directors, helping to shape the vision of organization, driving member engagement, and creating new advocacy, career, and education initiatives to advance the Ethereum business ecosystem.

  • Join Paul Brody and EEA leadership at Devcon (October 11-14, 2022) in Bogotá, Colombia to explore how Ethereum can be used to generate value, accelerate settlement times, increase transparency and decentralize the trade in all industrial sectors:

EY and Brody join the board, which includes representatives from EEA member companies including Accenture, Banco Santander, BlockApps, ConsenSys, Ethereum Foundation, JP Morgan, Microsoft, Open Foundation and Palm NFT Studio. As a consulting firm that partners with global enterprises on blockchain solutions that support the full business lifecycle, from procurement, ordering, fulfillment and from billing to payments, EY’s expertise will be key to the EEA Board and member community.

“It’s an exciting time for businesses building on Ethereum, with The Merge providing a path for businesses to deploy decentralized solutions on Ethereum’s now energy-efficient Mainnet. Thanks to the combined expertise of EY as a business leader in the Ethereum ecosystem and as a long-time member of the EEA, the EEA and its members can expect to benefit greatly from EY’s membership at the board level. Paul’s expertise in understanding enterprise readiness and deploying enterprise-grade distributed ledger financial services solutions will be critical to AEE’s efforts to help enterprises deploy on the mainnet. Ethereum and understand Ethereum technology and its trading derivatives,” said AEE Executive Director Dan Burnett.

From acquiring information to managing tax and auditing requirements for Ethereum blockchain-based transactions, EY helps companies navigate the regulatory and tax complexities of an emerging ecosystem. New EEA Board representative Paul Brody was the first to lead EY’s strategic blockchain engagement, working to determine how digital services and payments come together in the new digital world. Under his blockchain leadership, EY became the first Big 4 company to engage in public blockchain. EY’s global blockchain solutions platforms, including EY OpsChain and EY Blockchain Analyzer, enable businesses to harness the power of blockchain, increase efficiency and reduce transaction costs. Both are delivered through EY’s SaaS platform blockchain.ey.com and aim to address the ecosystem’s most pressing issues – privacy, security and regulatory compliance.

“EY is focused on the Ethereum ecosystem for many reasons; more importantly, it is backed by strong organizations such as the AEE and the Ethereum Foundation. It is with great enthusiasm that I join the EEA Board of Directors, and I look forward to collaborating on the continuation of Ethereum’s commercial roadmap. The AEE helps do the important work of ensuring companies understand Ethereum’s commercial readiness, and here at EY, we are passionate about this aspect of Ethereum. We are excited to work with the EEA to advance how businesses of all sizes unlock the potential of Ethereum,” said Brody, who is an interviewee in the 2022 Ethereum Business Readiness Report. of the AEE.

About EY

EY exists to build a better world of work, helping to create long-term value for customers, people and society and to build confidence in capital markets.

Enabled by data and technology, diverse EY teams in more than 150 countries deliver trust through assurance and help clients grow, transform and operate.

Working across insurance, advisory, legal, strategy, tax and transactional areas, EY teams ask better questions to find new answers to the complex issues facing our world today. today.

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information on how EY collects and uses personal data and a description of the rights of individuals under data protection legislation are available at ey.com/privacy. EY member firms do not practice law where local law prohibits it. For more information about our organization, please visit ey.com.

About the EEA

The Enterprise Ethereum Alliance (EEA) enables organizations to adopt and use Ethereum technology in their daily business operations. The EEA enables the Ethereum ecosystem to develop new business opportunities, drive industry adoption, learn, and collaborate. EEA Community Projects provide a hub for open source development of code, APIs, standards, and reference implementations. To learn more about EEA membership, contact membership@entethalliance.org or visit https://entethalliance.org/become-a-member/.

Follow the EEA on Facebook, TwitterLinkedIn and YouTube.

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Is Mowi (OB:MOWI) a risky investment? http://freedominst.org/is-mowi-obmowi-a-risky-investment/ Fri, 30 Sep 2022 05:14:36 +0000 http://freedominst.org/is-mowi-obmowi-a-risky-investment/

David Iben said it well when he said: “Volatility is not a risk that interests us. What matters to us is to avoid the permanent loss of capital. When we think of a company’s risk, we always like to look at its use of debt, because over-indebtedness can lead to ruin. We can see that Mowi ASA (OB:MOWI) uses debt in its business. But does this debt worry shareholders?

What risk does debt carry?

Debt and other liabilities become risky for a business when it cannot easily meet those obligations, either with free cash flow or by raising capital at an attractive price. In the worst case, a company can go bankrupt if it cannot pay its creditors. However, a more usual (but still expensive) situation is when a company has to dilute shareholders at a cheap share price just to keep debt under control. Of course, the advantage of debt is that it often represents cheap capital, especially when it replaces dilution in a business with the ability to reinvest at high rates of return. The first thing to do when considering how much debt a business has is to look at its cash and debt together.

See our latest analysis for Mowi

What is Mowi’s net debt?

The image below, which you can click on for more details, shows that in June 2022, Mowi had a debt of 1.37 billion euros, compared to 1.23 billion euros in one year. On the other hand, he has €133.7 million in cash, resulting in a net debt of around €1.24 billion.

OB:MOWI Debt to Equity September 30, 2022

A look at Mowi’s responsibilities

We can see from the most recent balance sheet that Mowi had liabilities of €1.22 billion due in one year, and liabilities of €1.99 billion due beyond. On the other hand, it has cash of €133.7 million and €706.6 million in receivables at less than one year. Thus, its liabilities outweigh the sum of its cash and (short-term) receivables by €2.37 billion.

While that might sound like a lot, it’s not that bad since Mowi has a market cap of €6.59 billion, so it could probably bolster its balance sheet by raising capital if needed. However, it is always worth taking a close look at its ability to repay debt.

We use two main ratios to inform us about debt to earnings levels. The first is net debt divided by earnings before interest, taxes, depreciation and amortization (EBITDA), while the second is how often its earnings before interest and taxes (EBIT) covers its interest expense (or its interests, for short). The advantage of this approach is that we consider both the absolute amount of debt (with net debt to EBITDA) and the actual interest expense associated with that debt (with its interest coverage ratio ).

Mowi has a low net debt to EBITDA ratio of just 1.1. And its EBIT covers its interest charges 17.4 times. One could therefore say that he is no more threatened by his debt than an elephant is by a mouse. On top of that, Mowi has grown its EBIT by 54% over the last twelve months, and this growth will make it easier to manage its debt. The balance sheet is clearly the area to focus on when analyzing debt. But future earnings, more than anything, will determine Mowi’s ability to maintain a healthy balance sheet in the future. So if you are focused on the future, you can check out this free report showing analyst earnings forecast.

But our last consideration is also important, because a company cannot pay debt with paper profits; he needs cash. So the logical step is to look at what proportion of that EBIT is actual free cash flow. Over the past three years, Mowi has recorded free cash flow of 79% of its EBIT, which is about normal, given that free cash flow excludes interest and taxes. This cold hard cash allows him to reduce his debt whenever he wants.

Our point of view

The good news is that Mowi’s demonstrated ability to cover its interest costs with its EBIT delights us like a fluffy puppy does a toddler. And this is only the beginning of good news since its EBIT growth rate is also very encouraging. Looking at the big picture, we think Mowi’s use of debt seems entirely reasonable and that doesn’t worry us. After all, reasonable leverage can increase return on equity. The balance sheet is clearly the area to focus on when analyzing debt. However, not all investment risks reside on the balance sheet, far from it. For example, we found 2 warning signs for Mowi (1 is significant!) which you should be aware of before investing here.

In the end, sometimes it’s easier to focus on companies that don’t even need to take on debt. Readers can access a list of growth stocks with no net debt 100% freeat present.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Valuation is complex, but we help make it simple.

Find out if Mowi is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

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Saturday Coastal Football Game (October 1) Moved to 7 p.m. ET http://freedominst.org/saturday-coastal-football-game-october-1-moved-to-7-p-m-et/ Thu, 29 Sep 2022 18:07:10 +0000 http://freedominst.org/saturday-coastal-football-game-october-1-moved-to-7-p-m-et/

CONWAY, South Carolina – Coastal Carolina’s home football game against Georgia Southern on Saturday, October 1 has been moved to 7 p.m. ET. The game will still air live on ESPN+ and on radio on WRRN Hot Talk 99.5 FM.

With rain and high winds forecast for the Myrtle Beach/Conway area on Friday, and in the interests of caution and safety regarding team travel, the universities and Sun Belt Conference have agreed to extend the time. from the start of the match. at 7 p.m. ET.

With the game time changing, here’s everything fans attending Saturday night’s game need to know about where to get in, what they can bring, and more.
Please note: umbrellas are not permitted in the stadium.

The Coastal Carolina Football Fan Guide can be viewed and downloaded HERE.

RESERVED AND SINGLE TICKETS SOLD OUT

All reserved and single tickets for Saturday’s game are SOLD OUT. No more tickets are available for sale for the home contest.

COASTAL STUDENTS – SHOW UP, WEAR TEAL, BE STRONG, BE PROUD
The sold-out sale does not affect the student section. CCU students do not need to book tickets. Students should enter through Gate 2 Brooks Stadium using their CINO card. However, to allow Coastal Carolina students the best opportunity to attend the game, guest student tickets are no longer available for the Saturday game.

RESERVED PARKING

The reserved Gameday car park is FULL. If you DO NOT have a paid parking pass, fans can use the free parking lots at the GG Lot, which is located off Highway 501, or the HGTC parking lots. Click here for gameday parking map.

COME EARLY

With the game sold out and new parking guidelines in place for this season, the Carolina Coast Athletics Department encourages fans to show up early and plan accordingly. We want all fans to be in their seats before the 7:02pm ET kickoff and are asking fans to help our staff and game day security by showing up early to cheer on their Chanticleers!

GAME DAY SPONSOR

Saturday’s home contest is sponsored by the Horry County Solid Waste Authority.

MATCH DAY PROGRAM

Fans can download the official Gameday 2022 Gameday Illustrated schedule HERE.

WELCOME TO FANFEST @ TEAL TOWN
“FanFest @Teal Town” presented by Grand Strand Nissan, is an interactive experience just outside Brooks Stadium next to the Marrio & Josh Norman Field House. Located at Gate 1, fans will have the opportunity to engage and get autographs from some of your favorite student-athletes and Chanticleer teams. Each home game will feature different experiences for Chant fans, including inflatables, photo booths, tailgate giveaways, face paint, a mobile game truck, outdoor games and exhibit vehicles. Chauncey and the Chanticleer dance crew will also be at “FanFest @ Teal Town” at select times.

The FanFest will open three hours before kick-off for each home game and will be located in Mullen-Wylie Square outside Gate 1 of Brooks Stadium.

TICKETING

Game Day: The box office opens four (4) hours before kick-off at the Brooks Stadium NORTH box office.

  • Digital ticketing is encouraged this year for safe and easy entry into the stadium. Print-at-home tickets are also encouraged.

DOORS

Metal detectors and/or wands will be in effect at all entrance doors. Please allow extra time for entry. The floor plan is available HERE.

  • The call is available two (2) hours before kick-off:

Gate 6 Visiting Team
Home team Gate 4
General Gate 1

(Photo ID is required to pick up call tickets).

  • All stadium gates will open two (2) hours before kick-off.
  • Current Coastal Carolina University students must swipe their CINO card to enter the game. Students must enter Brooks Stadium through Gate 2.
  • For information on accessible tickets/seating at the ADA, please contact the Chanticleer Athletics Box Office at 843-347-8499. All Brooks Stadium seats are assigned. ADA accessible seating is available throughout the stadium.

STADIUM SECURITY MEASURES

  • The bag clearing policy will be applied as normal (Click here).
  • No entry into the stadium (pass-outs) is permitted.
  • All toilets will be open.
  • Stadium security has the right to inspect any item at any time for the purpose of spectator safety. Prohibited items must be returned to cars or discarded before entering the stadium.
  • Prohibited items include:

    • Alcoholic beverages • Flags • Backpacks • Umbrellas • Weapons of all kinds • Bags (solid and/or transparent) larger than 12” x 12” x 6” • Food and/or drinks outside • Strollers/car seats baby/cars • Ice bags • Video cameras • Cool boxes • Thermos bottles • Animals (excluding service animals) • Sofas • Artificial noise makers • Selfie sticks • Umbrellas

FOOTBALL GAMEDAY TRAFFIC SAFETY PLAN

Road closures:

  • Beginning five (5) hours before kickoff, access to University Boulevard from Chanticleer Drive West (east or west) to SC 544 will be closed. Tom Trout Dr. from Chanticleer Dr. West to Independence Dr. will be closed.
  • Chanticleer Drive West and East will remain open to all traffic.
  • To to access campus and all main campus parking lots, use University Boulevard from US 501 – or – use Founders Drive from SC 544.
  • To go out campus, use University Boulevard and go to US 501 -or- use Founders Drive.

GENERAL CAR PARKS

Sports parking options (please refer to the map HERE).

  • All campus lots other than donor or student parking lots are accessible to spectators on game day based on availability beginning FOUR (4) hours prior to kickoff. Please note that general car parks will be shared with faculty/staff and students during weekday matches and are subject to availability. University parking regulations remain in effect until 5 p.m. ET.

ADA ACCESSIBLE PARKING

  • All parking lots contain the required number of ADA accessible parking spaces. Access to these spaces is on a first-come, first-served basis for those with official state-issued ADA signs. Access to the spaces does not require any additional fees or donations to CAF. Once spaces are filled, parking attendants will direct customers to other parking locations. Guests may choose to use the drop-off service next to Brooks Stadium, but will need to exit the parking lot afterwards and move the vehicle to the appropriate parking lot and space.
  • Auxiliary ADA parking is located in Lot S adjacent to the Wall College of Business and Brittain Hall on a first-come, first-served basis for people with official state-issued ADA signs. Access to the spaces does not require any additional fees or donations to CAF.
  • A free shuttle service is provided from lot S to Gate 4 Brooks Stadium.

NEW FOR 2022: The designated carpool drop-off/pick-up is located at the Chauncey Statue Loop located off Chanticleer Drive West (please refer to map HERE).

SHUTTLE BUSES
NEW for 2021: Fans using University-provided shuttles will be transported directly to Brooks Stadium and will use a new drop-off/pick-up location adjacent to Gate 4 and the South Ticket Book.

  • Fans will be dropped off able to access any of the stadium gates to enter Brooks Stadium regardless of their seat location.

2022 Football Match Day Shuttle Routes

• Each specific route will make continuous loops between each of the listed shuttle stops.

Teal Route Shuttle Stops

• Brooks Stadium
• Student Union
• HGTC
Service at parking lots located on the east side of Main Campus and HGTC.

Bronze Road Shuttle Stops

• Brooks Stadium
• YY parking lot (select parking)
Serves the YY parking lot on Hwy 544 Service to the parking lot south of Brooks Stadium off Hwy 544.

ADA Route shuttle stops

• Brooks Stadium
• Lot S (specific ADA parking)

ALL shuttles are ADA accessible and can meet all passenger needs.

CONCESSIONS

Brooks Stadium offers full concessions on the east and west sides of Brooks Stadium with even more options including Chick-fil-a, Mellow Mushroom, Cotton Candy, Food Trucks and a Teal Garden that will feature local beer options.

Students will be able to use their Meal Swipes on the Pepsi Patio and at the Southwest and Northwest concession stands.

A full map of dealerships and their locations can be found HERE.

TOBACCO-FREE CAMPUS POLICY

Coastal Carolina University is a tobacco-free campus. The use of all tobacco products and all smoke-related products is PROHIBITED in or on any University property. This policy does not restrict or prohibit lawful possession of tobacco.

For complete coverage of CCU football, follow the chants on social media @CoastalFootball (Twitter), facebook.com/CCUChanticleers (Facebook), @GoCCUSports (Instagram), or visit the official home of Coastal Carolina Athletics at www.GoCCUSports.com.


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Wall Street set to open lower on growing concerns over economic slowdown http://freedominst.org/wall-street-set-to-open-lower-on-growing-concerns-over-economic-slowdown/ Thu, 29 Sep 2022 13:01:00 +0000 http://freedominst.org/wall-street-set-to-open-lower-on-growing-concerns-over-economic-slowdown/
  • Dow and S&P futures down for the seventh time in eight days
  • Airlines and cruises fall on trip cancellations over hurricane warnings
  • Futures down: Dow 1.22%, S&P 1.47%, Nasdaq 1.80%

Sep 29 (Reuters) – U.S. stock indices were expected to open lower on Thursday as fears of a global economic slowdown from aggressive central bank rate hikes and potential contagion risks from a turmoil in British markets made risk averse investors.

Dow and S&P 500 e-minis fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc, Apple Inc (AAPL.O), Microsoft Corp, Meta Platforms Inc and Tesla Inc (TSLA.O) lost between 1.6% and 2.7% in premarket trading.

The calm brought by the Bank of England’s decision on Wednesday to buy long-term government securities to stabilize the market turmoil caused by the government’s new economic plan was short-lived.

Join now for FREE unlimited access to Reuters.com

The pound fell and bond prices fell, with the massive sell-off of British assets spreading even to safe-haven US Treasuries and top-rated German bonds. Read more

In the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.

S&P 500 loses $9 trillion in market rout in 2022

“You need to see the market start to stabilize and that won’t happen until it understands if the Fed is done raising interest rates or if the earnings season is better than expected,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.

Yields on many Treasuries, which are considered virtually risk-free if held to maturity, now eclipse the S&P 500 dividend yield, which recently stood at around 1.8%, according to Refinitiv. Data stream. Read more

Meanwhile, comments from Federal Reserve Cleveland Chair Loretta Mester echoed other central bank officials throughout the week, who pledged further interest rate hikes to controlling inflation. read more read more

The latest data showed the US labor market remained resilient, with the number of Americans filing new claims for unemployment benefits dropping unexpectedly last week to 193,000 despite sharp interest rate hikes from the Fed and the slowdown in demand. Read more

As of 8:37 a.m. ET, Dow e-minis were down 364 points, or 1.22%, S&P 500 e-minis were down 55 points, or 1.47%, and Nasdaq 100 e-minis were down 207.75 points, or 1.8%.

American Airlines (AAL.O) fell about 2.2% as carriers canceled nearly 2,000 US flights on Thursday after Hurricane Ian hit Florida’s Gulf Coast with catastrophic force during the one of the most powerful American storms in recent years. Read more

Shares of peers United Airlines Holdings (UAL.O), Southwest Airlines (LUV.N) and Delta Air Lines (DAL.N) fell between 1.6% and 2.0%.

U.S. cruise lines Norwegian Cruise Line Holdings Ltd (NCLH.N) and Carnival Corp (CCL.N) fell 2.1% after delaying or canceling trips ahead of the hurricane.

Join now for FREE unlimited access to Reuters.com

Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh Editing by Anil D’Silva and Arun Koyyur

Our standards: The Thomson Reuters Trust Principles.

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Is Rubis (EPA:RUI) a risky investment? http://freedominst.org/is-rubis-eparui-a-risky-investment/ Wed, 28 Sep 2022 05:04:50 +0000 http://freedominst.org/is-rubis-eparui-a-risky-investment/

David Iben said it well when he said: “Volatility is not a risk that interests us. What matters to us is to avoid the permanent loss of capital. It’s natural to consider a company’s balance sheet when looking at its riskiness, as debt is often involved when a company fails. We note that Ruby (EPA:RUI) has debt on its balance sheet. But the more important question is: what risk does this debt create?

When is debt dangerous?

Debt is a tool to help businesses grow, but if a business is unable to repay its lenders, it exists at their mercy. In the worst case, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still costly) event is when a company has to issue stock at bargain prices, permanently diluting shareholders, just to shore up its balance sheet. That said, the most common situation is when a company manages its debt reasonably well – and to its own benefit. The first step when considering a company’s debt levels is to consider its cash and debt together.

Discover our latest analysis for Rubis

What is Ruby’s debt?

The image below, which you can click on for more details, shows that in June 2022, Rubis had a debt of 2.21 billion euros, compared to 1.33 billion euros in one year. However, he has €774.4 million in cash that offsets this, resulting in a net debt of around €1.44 billion.

ENXTPA: RUI Debt to Equity September 28, 2022

A look at Rubis’ liabilities

We can see on the most recent balance sheet that Rubis had liabilities of 1.93 billion euros within one year and liabilities of 2.05 billion euros beyond. On the other hand, it has cash of €774.4 million and €893.6 million in receivables at less than one year. It therefore has liabilities totaling 2.31 billion euros more than its cash and short-term receivables, combined.

When you consider that this deficit exceeds the company’s 2.27 billion euro market capitalization, one might well be inclined to carefully review the balance sheet. In the scenario where the company were to quickly clean up its balance sheet, it seems likely that shareholders would suffer significant dilution.

We measure a company’s leverage against its earning power by looking at its net debt divided by its earnings before interest, taxes, depreciation and amortization (EBITDA) and calculating how easily its earnings before interest and taxes (EBIT ) covers its interest charge (interest coverage). Thus, we consider debt to earnings with and without amortization and depreciation expense.

Rubis has a debt to EBITDA ratio of 2.7, which signals significant debt, but is still fairly reasonable for most types of businesses. But its EBIT was around 14.8 times its interest expense, implying that the company isn’t really paying a high cost to maintain that level of leverage. Even if the low cost turns out to be unsustainable, that’s a good sign. Rubis has increased its EBIT by 8.5% over the past year. While that barely brings us down, it’s a positive when it comes to debt. There is no doubt that we learn the most about debt from the balance sheet. But it is ultimately the company’s future profitability that will decide whether Rubis can strengthen its balance sheet over time. So if you want to see what the professionals think, you might find this free analyst earnings forecast report interesting.

Finally, while the taxman may love accounting profits, lenders only accept cash. We therefore always check how much of this EBIT is converted into free cash flow. Over the past three years, Rubis has recorded free cash flow of 58% of its EBIT, which is within normal range, given that free cash flow excludes interest and tax. This cold hard cash allows him to reduce his debt whenever he wants.

Our point of view

On the balance sheet, the most notable positive for Rubis is the fact that it seems able to cover its interest charges with its EBIT with confidence. However, our other observations were not so encouraging. For example, his level of total liabilities makes us a little nervous about his debt. It should also be noted that companies in the Gas Utilities sector such as Rubis routinely resort to debt without any problem. Examining all of this data makes us somewhat cautious about Rubis’ level of indebtedness. While we understand that debt can improve return on equity, we suggest shareholders keep a close eye on their level of debt, lest it increase. When analyzing debt levels, the balance sheet is the obvious starting point. But at the end of the day, every business can contain risks that exist outside of the balance sheet. To do this, you need to find out about the 2 warning signs we spotted with Rubis (including 1 which does not suit us too much).

If you are interested in investing in companies that can generate profits without the burden of debt, then check out this free list of growing companies that have net cash on the balance sheet.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Valuation is complex, but we help make it simple.

Find out if Ruby is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

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AG Tong joins coalition advocating for the right to travel interstate for abortion http://freedominst.org/ag-tong-joins-coalition-advocating-for-the-right-to-travel-interstate-for-abortion/ Tue, 27 Sep 2022 16:55:08 +0000 http://freedominst.org/ag-tong-joins-coalition-advocating-for-the-right-to-travel-interstate-for-abortion/

Press Releases

09/27/2022

Attorney General Tong joins multi-state coalition advocating for right to travel interstate for abortion

Amicus brief argues Texas laws violate individuals’ constitutional right to interstate travel

(Hartford, CT) – Attorney General William Tong has joined a multi-state coalition of 21 attorneys general submitting an amicus brief in Fund Texas Choice v. Paxton to protect the right of individuals to travel outside of Texas to obtain an abortion. The multistate amicus brief was submitted in support of a motion for a preliminary injunction filed by reproductive rights advocates seeking to suspend enforcement of several Texas anti-abortion laws. In the amicus brief, the coalition argues that Texas residents as well as coalition state residents temporarily in Texas for school, work or vacation, have the right to travel to favorable states reproductive rights to access legal abortions.

“Texas passed draconian anti-abortion laws to criminalize the personal and professional choices of women, patients, and healthcare providers. These laws, which would prevent people — under threat of lawsuits and financial ruin — from leaving Texas for states that support choice and reproductive freedom, blatantly violate the right to interstate travel. Our Constitution gives us the right to cross state lines for work, health care, school, or any number of choices and actions we take as free people every day. Texas can’t change that.” said Attorney General Tong.

The lawsuit was brought by the Texas Fund reproductive groups Texas Choice, Jane’s Due Process, the Lilith Fund for Reproductive Equity, Clinic Access Support Network, The Afiya Center, West Fund and OB-GYN Dr. Ghazaleh Moayedi. In the petition, Dr. Moayedi explains that she seeks to travel to provide abortion services in states where her medical services are legal, and the other plaintiffs seek to travel to support people in Texas who want to access health care. reproduction in states where legal. . But they fear financial ruin or lawsuits for traveling to help people seeking legal abortions because of Texas anti-abortion laws.

In the amicus brief, the coalition says an individual’s constitutional right to interstate travel is threatened because of Texas anti-abortion laws, and that interference with that right poses a substantial threat to liberty. and the safety of these people, some of whom may need to leave Texas in urgent circumstances. Texas anti-abortion laws not only deny Texas residents access to the reproductive care they need within Texas borders, but Texas lawmakers have indicated they also seek to prevent a person to cross state lines to obtain an abortion, to provide an abortion, or to support a patient in need of an abortion.

The coalition states argue that while Texas can regulate abortion within its borders, infringing on the right to interstate travel, including for abortion, is illegal. Coalition states have a vested interest in preserving the right to interstate travel. Thousands of residents of coalition states live in Texas to attend college, pursue higher education, or serve as temporary workers; millions more enter Texas as visitors each year. The coalition has a strong interest in ensuring that these residents can leave Texas and return to their home state to access urgent, legal, and safe medical care, including abortions.

The coalition has a vested interest in preserving the right of Texas providers to travel to coalition states to provide abortion services or to accompany a patient in need of abortion care. As states that are committed to protecting access to reproductive health care, coalition states have a strong interest in preserving the right to travel for the millions of people living in states where abortion are restrictive and for whom traveling to have an abortion is essential. Texas anti-abortion laws – and threats by Texas lawmakers to use those laws to restrict travel outside their state’s borders – pose a significant threat to the liberty and safety of people who may need to leave the Texas for urgent reproductive care.

In submitting the amicus brief, Attorney General Tong joins the attorneys general of California, Colorado, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada , New Jersey, New Mexico, New York, North Carolina, Oregon and Pennsylvania. , Rhode Island, Washington and Washington, D.C.

A copy of the amicus brief is available here.

Twitter: @AGWilliamTong

Facebook: CT Attorney General


Media Contact:

Elizabeth Benton
elizabeth.benton@ct.gov

Consumer requests:

860-808-5318
attorney.general@ct.gov

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Best Structured Product Support System: Murex http://freedominst.org/best-structured-product-support-system-murex/ Tue, 27 Sep 2022 02:00:01 +0000 http://freedominst.org/best-structured-product-support-system-murex/

Murex’s MXThe .3 platform won this year’s Best Structured Product Support System award for not only exceeding basic representation and pricing requirements, but also for offering a cutting-edge product catalog and flexibility. structure to serve a wide and diversified range of Asian clients.

A structured product is a market-linked instrument whose performance or value is linked to that of an underlying asset, product or index. Murex’s MXThe .3 platform offers complete front-to-back solutions with versatile business representations and analytical integration flexibilities to address the broad and complex nature of the product.

“Structured products companies can become much more successful if they are empowered by systems to seize market opportunities by rapidly adding products, increasing profitability by storing risk, and increasing volume by automating operations,” explains the society. “It’s here that MX.3 brings unique benefits to its customers.

The company’s ready-to-use catalog is the largest in the market, featuring more than 350 packaged products, including all top-selling regional structures and local market-specific products.

Coupled with a structured trade builder, its clients can quickly create linear payout combinations and present them as new products. The structuring tool is particularly useful for the popular Chinese structured deposit business, allowing customers to continuously deploy variants.

Murex’s knowledge of commodity markets also enables many of its clients to quickly implement structured carbon notes based on the contango shape of the emission trading system’s allowance price curve. European Union – another example in which Murex helps its customers to seize market opportunities. (EU EST allowances are climate credits that allow holders to emit a certain amount of greenhouse gases.)

“The range of possibilities [that] customers have at their disposal to expand their catalog – tailored to their circumstances and needs – is unrivaled in the market,” says Murex.

Financial institutions can leverage the product catalog and create their own new products in two robust and flexible ways: A Python-based user payment language, allowing users to quickly describe and evaluate new features with Murex analytics ; and flexible APIsan application programming interface that integrates a user’s own proprietary quant libraries and creates specific functionality.

In today’s market environment, one of the critical needs of a system that supports structured products is to provide the right analytics – the right combination of price accuracy, actionable coverage indicators, and high performance scale to handle growing volumes.

Murex continues to be the benchmark for state-of-the-art capital markets solutions. Its experience in standard market analysis, consistent philosophy and innovation in earnings gives end users a sense of comfort and confidence

Client at a major South Korean bank

Murex’s MX.3 offers curve calibration, volatility management and GPUs-state-of-the-art dissemination models to help clients evaluate and manage their structured products. Models include the Libor market model for interest rates and local stochastic volatility (LSV) model for foreign exchange derivatives, among other analyses.

Additionally, Murex provides model validation documents that detail the numerical implementation and behavior of the model based on up-to-date market data to minimize model risk and validation cost.

The real-time management of structured product portfolios poses a significant challenge for THIS infrastructure because they are computationally intensive. This is where Murex stepped in to help with real-time portfolio management (RTPM). It gives traders instant access to already calculated results in personalized monitoring dashboards with real-time position updates, live risk matrices and near real-time market data updates.

Clients can also tailor advanced risk metrics to their popular structured products with dedicated screens for deeper analysis of future cash flow projections and early termination probability.

With everything combined in one front-to-back-to-risk platform, MX.3 users receive consistent trade representation and analytics, including pricing and hedging, sales distribution, post-trade processing, risk control, regulatory reporting, settlement and accounting.

Full risk and cost control with easy scaling up and down has also enabled banks to comply with sweeping regulations such as the transition of the Interbank Offered Rate (Ibor), the Fundamental Review of the trading book and the rules on uncompensated margins.

In particular, Murex has undergone significant improvement to help customers deal with Ibor shutdown, which remains a thorny issue on non-linear structures. Murex completed the end-to-end transition for structures referencing Ice swap rates and developed the transition for Asia Effects– implicit benchmarks, which are commonly referenced in structured loans.

It also extended its risk-free rate (RFR) non-linear constant maturity swap structures (CMS), CMS– spread swaps, accrued range and interbank offered rate in Tokyo (Tibor) compared to the average overnight inverted floats in Tokyo (Tona). Its payment script has been enhanced to support RFRs.

Meanwhile, Murex has added new features to store risk to better serve customers using MX.3 for their stock autocallable business – one of the most popular structures in the market.

It implemented a new risk matrix scenarios engine to allow more flexible market data changes, a new user-defined risk measures module to create and calculate Greek and hypothetical scenarios, a “smart-over -hedge” to better manage payment discontinuities, as well as LSV templates for autocallable actions to serve as an alternative to pricing.

“Murex continues to be the benchmark for state-of-the-art capital markets solutions,” said a client of a major South Korean bank. “His background in standard market analysis, consistent philosophy and innovation in earnings gives end users a sense of comfort and confidence.”

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The assault on national conservatism http://freedominst.org/the-assault-on-national-conservatism/ Sun, 25 Sep 2022 22:01:21 +0000 http://freedominst.org/the-assault-on-national-conservatism/

There are no coincidences in politics, which is why when three different people attacked the idea of ​​national conservatism from three directions in the space of a day last week, it was worth noting .

National conservatism is the idea that people organize themselves into nations to achieve a variety of goals and that historical experience is important in creating a nation and shaping its values. In the case of the United States, these purposes are best defined in the preamble to the Constitution.

The National Conservatism Statement of Principles (which I signed) includes new ideas such as supporting national independence, rejecting globalism, recognizing the need for the rule of law, believing that religion is important both in in public life and in individual life, to believe that free enterprise is a good thing and to understand that strong families are essential to national survival.

In short, National Conservatives believe in everything that until about 50 years ago was the foundation of America.

Who could tackle such historically innocuous sentiments? Well, last week a professional provocateur (David French) wrote that these sentiments were “a direct threat to religious freedom! Oh dear.

Around the same time, a former congressman turned gadfly (Justin Amash) tweeted, “National conservatism is authoritarianism repackaged… [and] fundamentally rejects individualism and property rights…” Oh my god.

There are a few problems with these “thoughts”. Everything in the National Conservatism Statement of Principles – which, as a reminder, includes an explicit endorsement of freedom of conscience – is in the middle of the aisle of historic American political values, thoughts and actions. There is nothing in the principles that suggests or endorses anything authoritative. On the contrary, national conservatism honors the individual and the community.

The statement of principles is also on target with regard to property rights: “We believe that an economy based on private property and free enterprise is best suited to promote the prosperity of the nation and is consistent with the traditions of individual freedom that are central to the Anglo-American political tradition.He goes on to explicitly reject socialism.

I can’t make it any clearer.

The good news is that the fight’s third skater, Mary Imparato, editor for the Catholic newsletter Post-Liberal Order, only complained that the recent National Conservatism Conference in Miami didn’t include enough neoconservatives, Catholics or Catholics who believe that we should establish some kind of Catholic Republic here in the United States (called “fundamentalists” because they believe in the integration of religion and state).

Unfortunately, there are no more neoconservatives and the six Catholic fundamentalists were busy moving back into their parents’ basement that weekend. No, seriously, they couldn’t because national conservatism is not their cup of tea: this crew refused to sign the declaration of principles.

There were, however, many Catholics. There were two panels on Catholicism and National Conservatism at the conference (full disclosure: this columnist participated in one of the panels). In all, the Catholics spent a good three hours sharing their different thoughts on the world.

The biggest problem with all of this is that it’s an example of how our public discourse has become corroded and sterile.

How did we come to a point where someone pays attention to these people? What they have achieved in life is unclear, so anyone should listen to them. They don’t seem particularly marked by wisdom, intellect, or success in business, law, medicine, politics, or art.

What they seem to do the most is get paid to have opinions, whether or not they know the subject matter.

Good for them, but probably bad for the rest of us. Do they have insight or wisdom acquired either by examining the political theories they write about? Indeed, in this case, they attacked without bothering to pick up a book to read or a phone to talk to the intended target.

It’s a small wonder that some err when led by people who have no experience that can help people make sense of the world.

Since they are paid to have opinions, it is fair to wonder who, in this case, paid for them to have and share opinions on national conservatism that are unfounded and untenable.

There’s an old saying in the South that dogs don’t bark at parked cars. If you do something – and the National Conservatives clearly intend to do something – all kinds of dogs will start barking.

• Washington Times columnist Michael McKenna co-hosts “The Unregulated” podcast. He was most recently Deputy Assistant to the President and Deputy Director of the Office of Legislative Affairs at the White House.

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We think Sociedad Química y Minera de Chile (NYSE:SQM) can stay on top of its debt http://freedominst.org/we-think-sociedad-quimica-y-minera-de-chile-nysesqm-can-stay-on-top-of-its-debt/ Sun, 25 Sep 2022 12:28:39 +0000 http://freedominst.org/we-think-sociedad-quimica-y-minera-de-chile-nysesqm-can-stay-on-top-of-its-debt/

David Iben said it well when he said: “Volatility is not a risk that interests us. What matters to us is to avoid the permanent loss of capital. When we think of a company’s risk, we always like to look at its use of debt, because over-indebtedness can lead to ruin. Above all, Sociedad Chemical and Minera de Chile SA (NYSE:SQM) is in debt. But does this debt worry shareholders?

When is debt dangerous?

Generally speaking, debt only becomes a real problem when a company cannot easily repay it, either by raising capital or with its own cash flow. In the worst case, a company can go bankrupt if it cannot pay its creditors. However, a more common (but still painful) scenario is that it has to raise new equity at a low price, thereby permanently diluting shareholders. By replacing dilution, however, debt can be a great tool for companies that need capital to invest in growth at high rates of return. When we look at debt levels, we first consider cash and debt levels, together.

Check out our latest analysis for Sociedad Química y Minera de Chile

What is the net debt of Sociedad Química y Minera de Chile?

You can click on the graph below for historical numbers, but it shows that in June 2022, Sociedad Química y Minera de Chile had a debt of $2.61 billion, an increase from $1.94 billion dollars, over one year. On the other hand, it has $2.58 billion in cash, resulting in a net debt of around $32.9 million.

NYSE: SQM Debt to Equity September 25, 2022

A look at the liabilities of Sociedad Química y Minera de Chile

The latest balance sheet data shows that Sociedad Química y Minera de Chile had liabilities of US$3.39 billion due within one year, and liabilities of US$2.32 billion falling due by the after. On the other hand, it had $2.58 billion in cash and $1.53 billion in receivables at less than one year. Thus, its liabilities total $1.60 billion more than the combination of its cash and short-term receivables.

Given that Sociedad Química y Minera de Chile has a colossal market cap of US$26.8 billion, it’s hard to believe that these liabilities pose a big threat. But there are enough liabilities that we certainly recommend that shareholders continue to monitor the balance sheet in the future. Having virtually no net debt, Sociedad Química y Minera de Chile has very little debt.

In order to assess a company’s debt relative to its earnings, we calculate its net debt divided by its earnings before interest, taxes, depreciation and amortization (EBITDA) and its earnings before interest and taxes (EBIT) divided by its expenses. interest (its interest coverage). Thus, we consider debt to earnings with and without amortization and depreciation expense.

With debt at a measly 0.01 times EBITDA and an EBIT covering interest of 39.0 times, it is clear that Sociedad Química y Minera de Chile is not a desperate borrower. Thus, compared to previous income, the level of indebtedness seems insignificant. Even better, Sociedad Química y Minera de Chile increased its EBIT by 562% last year, which is an impressive improvement. If sustained, this growth will make debt even more manageable in years to come. There is no doubt that we learn the most about debt from the balance sheet. But it is future earnings, more than anything, that will determine the ability of Sociedad Química y Minera de Chile to maintain a healthy balance sheet in the future. So if you want to see what the professionals think, you might find this free analyst earnings forecast report interesting.

But our last consideration is also important, because a company cannot pay debt with paper profits; he needs cash. We therefore always check how much of this EBIT is converted into free cash flow. Over the past three years, Sociedad Química y Minera de Chile has recorded a free cash flow of 34% of its EBIT, which is lower than expected. This low cash conversion makes debt management more difficult.

Our point of view

Sociedad Química y Minera de Chile’s interest coverage suggests they can manage their debt as easily as Cristiano Ronaldo could score a goal against an Under-14 goalkeeper. But, on a darker note, we are a bit concerned about its conversion of EBIT into free cash flow. Overall, we think Sociedad Química y Minera de Chile’s use of debt seems entirely reasonable and we are not worried about that. Although debt carries risks, when used wisely, it can also generate a higher return on equity. The balance sheet is clearly the area to focus on when analyzing debt. However, not all investment risks reside on the balance sheet, far from it. For example, we found 3 warning signs for Sociedad Química y Minera de Chile (2 are concerning!) that you should be aware of before investing here.

In the end, sometimes it’s easier to focus on companies that don’t even need to take on debt. Readers can access a list of growth stocks with no net debt 100% freeat present.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

Valuation is complex, but we help make it simple.

Find out if Sociedad Quimica y Minera de Chile is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.

See the free analysis

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Morgan Sanson ‘free to go’ Aston Villa http://freedominst.org/morgan-sanson-free-to-go-aston-villa/ Sat, 24 Sep 2022 17:42:35 +0000 http://freedominst.org/morgan-sanson-free-to-go-aston-villa/




Aston Villa midfielder Morgan Sanson is ‘free to leave’ the club in the January transfer window, according to reliable journalist Ashley Preece.

The Lowdown: Sanson in Disgrace

The 28-year-old has found himself out of Steven Gerrard’s plans so far this season, with other midfielders such as Douglas Luiz and John McGinn favored over him.

In fact, not a single minute of Premier League action has been seen by Sanson in 2022/23 so far, which has raised doubts over his future at Villa Park.

Now, a new update further suggests that the Frenchman could be heading to new pastures soon.

The Latest: Preece Talks Exit

Talk to Give me sportsPreece claimed that Sanson was free to find a new club in January, with his current contract expiring in the summer of 2025:

“I think he hasn’t impressed enough since he really joined. He’s in the team at the moment and will be until the January window reopens.

“I think Villa will also be looking for a Sanson replacement as they need depth in that area. I think Sanson will be free to go.

The verdict: perfectly logical

In truth, Sanson hasn’t lived up to expectations in a Villa shirt since arriving from Marseille last year, making just 20 appearances and registering no goals or assists.

Should Villa move for Conor Gallagher?

Yes

Yes

Nope

Nope

He was hailed as a “great technician” by former manager Dean Smith, but there was not enough influence and drive in his performances.

A permanent move away from Villa in January would be ideal for all parties, freeing Sanson from the wage bill and allowing him to play regularly elsewhere.





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