Direct deposits – Direct Vanqex Tue, 21 Jun 2022 15:38:25 +0000 en-US hourly 1 Direct deposits – Direct Vanqex 32 32 Small Business Platform Autobooks Announces $50M Series C Led by Macquarie Capital Principal Finance Tue, 21 Jun 2022 13:11:51 +0000

Autobooks Announces $50 Million Series C

“To retain leadership, banks must leverage legacy merchant services programs to include digital payment acceptance tools that offer self-service integration. Autobooks makes this possible through our payment facilitation model (payfac) , which can be activated in days by industry-leading partners.”

Autobooks, the payments and accounting platform used by more than 800 financial institutions, today announced it has raised $50 million in a Series C funding round led by Macquarie Capital Principal Finance. The round also includes participation from new and existing investors, including: Baird Capital, Commerce Ventures, Draper Triangle, Mission OG and TD Bank (NYSE: TD). Larry Handen, senior managing director of Macquarie Capital, will join the Autobooks board.

“Our investment in Autobooks is a chance to help small businesses across the United States by supporting an exceptional team building an extraordinary product,” said Larry Handen.

Autobooks has become the leading integrated receivables platform for small businesses, enabling digital invoices, payment acceptance and automated accounting directly into online and mobile banking. The company has implemented turnkey integrations with the industry’s leading digital banking providers to deliver essential back-office services to more than one-third of the US market, with no-code deployments. Companies such as Alkami[NASDAQ : ALKT, Bottomline, CSI[OTCMKTS : CSVI, FIS[NYSE : FIS, Jack Henry[NASDAQ : JKHY, NCR[NYSE : NCR & Q2[NYSE : QTWO]have each integrated automatic books into their respective platform(s), making invoicing and accepting payments as ubiquitous as paying bills and capturing deposits remotely.[NASDAQ:ALKTBottomlineCSI[OTCMKTS:CSVIFIS[NYSE:FISJackHenry[NASDAQ:JKHYNCR[NYSE:NCR&Q2[NYSE:QTWOhaveeachembeddedAutobooksintotheirrespectiveplatform(s)makinginvoicing&paymentacceptanceasubiquitousasbillpayandremotedepositcapture[NASDAQ:ALKTBottomlineCSI[OTCMKTS:CSVIFIS[NYSE:FISJackHenry[NASDAQ:JKHYNCR[NYSE:NCR&Q2[NYSE:QTWOhaveeachembeddedAutobooksintotheirrespectiveplatform(s)makinginvoicing&paymentacceptanceasubiquitousasbillpayandremotedepositcapture

“Companies are increasingly looking for simple, bundled solutions to get paid and automate their back office. If the bank can’t deliver these services quickly, companies will go (and have gone) elsewhere,” said Steve Robert , co-founder, and CEO of Autobooks. “To maintain leadership, banks must leverage legacy merchant services programs to include digital payment acceptance tools that offer self-service integration. Autobooks makes this possible through our payment facilitation model ( payfac), which can be activated within days by industry leading partners”.

Autobooks has experienced explosive growth over the past year, with a capital-efficient acquisition strategy. Banking deployments increased by 800% to 840 installations. The increase in deployments has resulted in a 700% increase in adoption by small business customers, totaling over 60,000 businesses on the platform. The company now averages over 10,000 monthly signups and has surpassed $40 billion in transaction volume – helping customers reconcile their bank account(s) with its proprietary GL suite, in order to better manage cash flow and unlock working capital.

Cash flow is the oxygen for a small business. Autobooks helps a business send electronic invoices and provide personalized payment links/landing pages using a direct billing model to allow customers to pay online. In fact, 95% of invoices created with Autobooks are paid within 5 business days, significantly reducing the number of unpaid sales days. Incoming funds are deposited directly into their bank account for immediate use.

Autobooks also helps banks. In a cohort assessment of over 700 businesses using TD Online Accounting (powered by Autobooks) – average customer deposits increased by 65%, while product usage doubled. TD Bank used a product-driven growth strategy, bundling billing into its Simple Business verification product as a standard feature. This allowed the bank to leverage a self-service digital registration for small/micro businesses to stay ahead of the competition. Learn more about TD’s reinvention of small business checks here:


About Autobooks:

Detroit-based Autobooks is a provider of small business banking solutions that facilitate payment, cash flow management and accounting automation. Through Autobooks, financial institutions can deliver essential back-office tools to better serve small and micro businesses, directly within their existing digital banking channels.

For more information, ask your technology provider about Autobooks or visit

About Macquarie Capital:

Macquarie Capital is the principal advisory, capital markets and investment arm of the Macquarie Group. It encompasses corporate advisory, a full range of capital solutions, including capital-raising services from equity, debt and private capital markets and major investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in aerospace, energy, defense and government services, consumer, gaming and leisure, financial institutions, healthcare, industrials , infrastructure, resources, software and services, technology, telecommunications and media. Macquarie Capital Principal Finance, the principal finance and investment arm of Macquarie Capital makes investments from Macquarie’s balance sheet and provides flexible primary finance and secondary market investment solutions for corporate and commercial real estate businesses in North America, Europe and Australasia.

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What you need to know about lithium and which ASX stocks are profiting from it Sun, 19 Jun 2022 22:30:00 +0000

Image source: Getty Images

Several dozen ASX stocks are looking for lithium. A handful more are in the pre-production phase.

But only three ASX stocks are currently producing the metal.

We take a look at those below.

But first…

What is lithium?

Lithium is a light and malleable alkali metal, silver in color.

Historically, it has been used to increase the heat resistance of glass and ceramics. Lithium salts are also used as antidepressants.

But it’s lithium’s high level of thermal and electrical conductivity that has seen demand soar alongside the rapidly growing market for lithium-ion batteries. Batteries that power most electric vehicles (EVs) on the road.

Lithium’s crucial role in the transition to renewable energy has seen the Australian government classify the metal as a critical mineral.

The metal is mainly mined from ore and brines, with Australia, Chile, China and Argentina having the largest deposits.

The government reports that Australia has high geological potential for lithium, with a demonstrated economic resource in 2020 of 6.17 million tonnes. In 2020, Australia produced 40,000 tons of lithium out of a total world production of 82,000 tons.

So what are the three ASX stocks that produce lithium?

Three ASX stocks cash in on lithium

Taking them in alphabetical order, we start with Allkem AG (ASX: AKE), formerly known as Orocobre.

Allkem has a market cap of just under $6.6 billion. Based in Brisbane, its projects are mainly in Argentina. The company supplies lithium carbonate to a variety of industrial and technical sectors, supplying approximately 10% of the global lithium market.

Allkem claims to be one of the cheapest lithium producers in the world. The company intends to increase production to three times its current levels by 2026.

Allkem’s share price has risen 72% over the past 12 months.

The second ASX stock already producing lithium is Limited mineral resources (ASX: MIN), with a market capitalization of $10.1 billion.

While you might think of Mineral Resources as a mining services company, which it is, the company also has a large footprint in the lithium space. Its operations in Western Australia are Mt Marion, located in the Goldfields; and Wodgina, in the Pilbara region.

The Company mines and produces both drop-ship lithium ore and spodumene concentrate.

Mineral Resources’ share price is up 8% since the same period last year.

Moving on to our third ASX share in the lithium production phase, we have Pilbara Minerals Ltd (ASX:PLS), which has a market capitalization of $6.3 billion.

Pilbara’s flagship Pilgangoora Lithium-Tantalum project is also located in the Pilbara region of WA.

The Pilgangoora project is one of the largest hard rock lithium-tantalum deposits in the world. Pilbara Minerals has big expansion plans for the project. It expects spodumene concentrate capacity at Pilgangoora to increase to 560,000 to 580,000 dry metric tons (dmt) this year.

The Pilbara share price is up 57% over the past 12 months.

HDFC Bank raises interest rates on fixed deposits twice a week; Check the new HDFC Bank FD rates Sat, 18 Jun 2022 05:21:00 +0000

HDFC bank raises fixed deposit interest rates: India’s largest private sector lender, HDFC Bank, raised interest rates on fixed deposits again, a week after doing the same. The HDFC Bank FD rate hike is applicable to deposits below Rs 2 crore. HDFC Bank’s new fixed deposit interest rates have already come into effect, according to the lender’s website. This was implemented through different tenors. Seniors will benefit from additional interest on HDFC Bank fixed deposits.

HDFC Bank FD interest rates came into effect from June 17, Friday. This is a direct result of the RBI raising its repo rates by 50 basis points. After the lender’s latest hike, HDFC Bank FD rates rose from 2.50% to 2.75% for terms of 7 to 29 days, an increase of 25 basis points. The lender raised the interest rate on term deposits maturing between 30 and 90 days by 25 basis points, from 3% to 3.25% now. For deposits maturing between 91 days and 6 months, an increase of 25 basis points took interest rates from 3.25% to 3.75%. Deposits maturing in other mandates also saw an increase of 10 to 25 basis points, HDFC Bank said on its website.

“Only senior/retired staff (60+) who are Indian residents are eligible. The special rates only apply to residents’ deposits,” the HDFC bank said on its website. HDFC Bank FD’s interest rate hike only applies to National/NRO/NRE accounts, the bank said further on its website.

Here are the revised interest rates on time deposits below Rs 2 crore at HDFC Bank from 17 June 2022:

7 days to 14 days: For the general public – 2.75%; For seniors – 3.25%

15 days to 29 days: For the general public – 2.75%; For seniors – 3.25%

30 days to 45 days: For the general public – 3.25%; For seniors – 3.75%

46 days to 60 days: For the general public – 3.25%; For seniors – 3.75%

61 days to 90 days: For the general public – 3.25%; For seniors – 3.75%

91 days to 120 days: For the general public – 3.75%; For seniors – 4.25%

6 months 1 day to 9 months: For the general public – 4.65%; For seniors – 5.15%

9 months 1 day to less than a year: For the general public – 4.65%; For seniors – 5.15%

1 year: For the general public – 5.35%; For seniors – 5.85%

1 year 1 day to 2 years: For the general public – 5.35%; For seniors – 5.85%

2 years 1 day to 3 years: For the general public – 5.50%; For the elderly – 6.00 percent

3 years 1 day to 5 years: For the general public – 5.70%; For seniors – 6.20%

5 years 1 day to 10 years: For the general public – 5.75%; For seniors – 6.50%

Read all the latest news, breaking news, watch the best videos and live TV here.

Reedy shares soar in US lithium acquisition Thu, 16 Jun 2022 06:01:00 +0000

Reedy Lagoon shares jumped more than 28% on intraday trading after learning it had expanded its North American lithium ground after cutting the ribbon on 192 other placer claims on its Alvord project, which is part of from the northern McDermitt caldera in Oregon.

Reedy says the acquisition allows him to detect battery metals through previously generated brine targets associated with geothermal hot springs and playa lakes scattered across the warrant.

The explorer will remit an initial US$25,000 to GoldPlay LLC to recover the claims where GoldPlay previously landed a geochemical sediment sample containing 150 parts per million lithium.

Curiously, Reedy thinks his new ground could be initially advanced through relatively inexpensive prospecting work which, unlike Australia, requires no minimal outlay.

The company argues that its new term corresponds to a central axis of a fissured valley that predates the construction and collapse of McDermitt’s North Caldera, a type of depression formed when a volcano erupts and s collapses.

Reedy’s new Alvord project boasts an enviable zip code with Lithium Americas’ New York Stock Exchange-listed Thacker Pass lithium operation – dubbed the “largest known lithium resource in the United States” – just 60km.

Lithium Americas recently completed a pre-feasibility study at Thacker Pass, suggesting it could pump about 60,000 tons of battery-grade lithium carbonate per year over the mine’s 46-year life.

The ASX-listed Jindalee Resources lithium-clay deposit is also near Alvord and about 25 km to the south.

After cleaning up its McDermitt resource to more than 10.1 million tons of contained lithium carbonate equivalent, Jindalee said it has the largest lithium deposit in the United States, a claim that will please Reedy given its land nearby.

According to Reedy, volcanic ash deposited in a crater lake produced during a massive volcanic eruption and subsequent caldera collapse could be the main source of lithium in the two deposits.

The company’s new turf sits at the edge of McDermitt’s North Caldera and coincides with an area of ​​high heat flux induced by geothermal hot springs controlled by a series of major north-south trending faults.

Management suggests that the areas’ geothermal activity, extreme heat flux, and widespread distribution of volcanic ash produced from multiple caldera eruptions may be favorable conditions for the delivery of lithium-rich brines and clay deposits. throughout the tenancy of the Alvord project.

Reedy will now look to head into the underground brines in an exploration room which will see the mining explorer initiate geochemical sampling of playa lake geothermal water and sediment and carry out electrical geophysical analysis work.

According to the company, 3D Audio magneto-telluric surveys are planned for Alvord, with the exploration methods previously being put to good use at its Clayton Valley and Alkali Lake operations in southern Nevada to locate brines.

Interestingly, Reedy’s two lithium operations in Nevada are within pumping distance of a pair of solid battery metal deposits, potentially opening up a wealth of business opportunities.

Albemarle, a market capped at $25.4 billion, hosts a brine operation within earshot while a subsidiary of energy giant Schlumberger is nibbling away at a pilot lithium extraction plant.

NeoLith Energy, Schlumberger’s new venture, is looking to pioneer an unconventional lithium mining technique that could produce high-purity, battery-grade lithium in weeks instead of the current time frame of around a year.

Apart from his interests in battery metals, Reedy also pursues his plans to harvest magnetite from his Burracoppin deposit in Washington State to generate iron concentrate.

The product will then be promoted to steelmakers around the world, including companies in Australia, Asia, Europe, North America and the UK.

A few months ago, the final report of a CSIRO study of the Burracoppin magnetite deposit was published, leading to the launch of MagResource, a state-of-the-art process for assessing the iron concentration of magnetite deposits.

MagResource takes into account a combination of magnetite density and magnetic properties to generate a direct link to iron content which can be used to determine the amount of iron contained in a deposit.

Reedy already has his foot on a suite of drill-ready lithium-brine targets in Nevada, a new parcel of land in Alvord and with work underway at Burracoppin, the company could be gearing up for a busy end to the year.

Is your ASX-listed company doing anything interesting? Contact:

Israel’s sovereign wealth fund to ‘avoid direct investment’ in fossil fuels Tue, 14 Jun 2022 15:12:49 +0000 The chairman of the Fund told a parliamentary committee that the decision had been taken not to invest in oil and gas companies

Israel’s sovereign wealth fund “will avoid direct investment” in oil and gas companies, the fund’s chairman said on Tuesday.

Yoram Ariav told a Knesset (Israeli parliament) committee overseeing the fund that the decision was made on Monday not to invest in fossil fuels.

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The Israeli Citizens Fund was created to invest in windfall profits from the discovery of natural gas and other natural resources.

The Ministry of Finance and the Tax Authority officially launched the fund on June 1 after meeting the minimum threshold of $301 million (1 billion shekels) set in the 2014 law that established the fund.

Finance Minister Avigdor Lieberman signed a transfer order for NIS 1.14 billion of accrued levies.

The fund was expected to start operating in 2018. However, political unrest and a slower flow of revenue have caused delays.

The fund contains revenue from excess profit taxes imposed on Israel’s natural gas deposits in Mediterranean territorial waters and the production of natural resources, including potash, bromine and phosphates.

Israel discovered huge deposits of natural gas in the Mediterranean a decade ago, with major production starting in 2013.

Most of the silver comes from the Tamar gas field, located in Israel’s exclusive economic zone, about 80 km west of Haifa in the Mediterranean Sea.

Coalition government announces ‘stabilization’ budget for fiscal year 2022-23 Sat, 11 Jun 2022 06:42:34 +0000

Photo courtesy PID

The incumbent coalition government on Friday unveiled a Rs. 9.5 trillion budget for the financial year 2022-23, with Finance Minister Miftah Ismail saying it aimed to stabilize the struggling economy and control inflation galloping. However, the stabilization measures are likely to cause further price increases, raising questions about their effectiveness for the general public.

Unlike previous budget speeches, which tended to be marred by opposition slogans and protests, this year’s speech saw no resistance from the “friendly” opposition, made up mostly of MPs dissidents from Pakistan Tehreek-e-Insaf. Stressing that the incumbent government was continuing the projects started by the ousted PTI regime, Ismail nevertheless criticized his predecessor’s policy, lamenting that it failed to focus on inclusive growth and led to record inflation.

“The problem with our economy is that growth is 3-4%, but when it hits 5-6% our current account deficit spirals out of control as we prioritize the elite and increase our imports to facilitate them” , he added. said. “We need to adopt a new perspective focused on relieving the weakest sections of society to increase domestic production,” he said, adding that the government wanted to encourage local production.

“We will increase agricultural production to increase arable products and increase yield per acre while also focusing on developing industries, which can help increase the country’s exports,” he said, noting that Prime Minister Shehbaz Sharif wanted to provide maximum relief. to the public through targeted grants.

“The series of tough decisions is not over yet,” he warned, adding that the goal was to convert the primary deficit into a primary surplus. Admitting that rising energy and fuel prices would spur inflation, he said it was necessary to overcome the “devastation” caused by the mismanagement of the previous government.

According to the finance minister, the collection target of the Federal Board of Revenue (FBR) for the next financial year was Rs. 7,004 billion, with the provinces to collect Rs. 4,100 billion. He said the federal government’s net revenue is expected to be Rs. 4,904 billion, with non-tax revenue forecast at Rs. 2,000 billion, against expenditure of Rs. 9,502 billion. He said Pakistan should spend Rs. 3.95 trillion on debt servicing. He said government debt in the outgoing fiscal year stood at 72.5% of GDP, having hit Rs. 44.365 billion in March 2022.

Among the revenue-generating measures, he said, the tax imposed on non-filers would be doubled. The new budget, he said, proposed to increase the advance tax rate on the purchase and sale of goods for filers from 1% to 2%, and for non-filers to 5%.

In a move towards taxing landed properties, Ismail said anyone with real estate valued at Rs. 25 million or more would be considered earning additional income to the tune of 5% of its value. He said the government would levy a 1% tax on this income, adding that a person who owns real estate for more than a year would be subject to a 15% capital gains tax which would be reduced to 0. after six years.

As part of the targeted subsidies proposed by the government, it has been proposed to increase the total allocation of the Benazir Income Support Scheme (BISP) for the incoming financial year from Rs. 250 billion to Rs. 364 billion. As part of this, Ismail said, nine million poor families would receive direct deposits through the Benazir Kafalat cash transfer program with an allocation of rupees. 266 billion. Likewise, he said, the subsidy for the Utility Stores Corporation would be increased to Rs. 12 billion.

The minister said that the Benazir Taleemi Wazaif program would be extended to 10 million children against a stipend of rupees. 35 billion; more than 10,000 students would be granted undergraduate scholarships against the award of Rs. 9 billion. He said the Benazir Nashonuma program would be extended to all provinces with funding of Rs. 21.5 billion, adding that Baitul Maal would allocate Rs. 6 billion for medical treatment of the poor.

Education and Energy

Ismail said Rs. 65 billion had been allocated to the Higher Education Commission in addition to Rs. 44 billion for development projects. “We are trying to convince the provinces to put more emphasis on the development of higher education,” he said.

On energy, the minister stressed that improving power generation, transmission and distribution was a priority for the incumbent government and Rs. 73 billion had been allocated to achieve this, of which Rs. 12 billion to accelerate the construction of the Mohmand dam.

He said Rs. 71 billion had been allocated to pay arrears in the oil sector, adding that the gas tariff for the industrial sector would be announced soon. The government, Ismail said, had allocated Rs. 214 billion in additional grants for the first three months of the incoming fiscal year to reduce the burden of electricity tariffs on the public. In total, he said Rs. 570 billion had been allocated to the power sector.


In a key move, the finance minister said the annual income tax threshold had been raised from Rs. 600,000 to Rs. 1.2 million, adding that this meant there was effectively no no income tax for individuals earning up to Rs. 100,000 per month. The government has also proposed to increase the corporate banking tax to 39%, including 42% super tax.

He said foreign nationals doing business in Pakistan should also pay taxes, adding that the focus was on raising taxes on non-filers, including doubling taxes for vehicles over 1. 600cc. The government has proposed an advance tax on 1,600cc cars and an additional 2% tax on cars with electronic engines, he said, while noting that the tax on the Behbood Savings Certificate and the pensioners’ benefit account had been reduced from 10% to 5%.

Ismail said the government was fixing the levy on small retailers, in the range of Rs. 3,000 to 10,000, adding that it would be added to their electricity bills. He said filers who send money overseas using credit, debit or prepaid cards would have to pay a 1% withholding tax, while non-filers would be charged 2% d tax, he said.

The finance minister said the government has offered to provide easy installment loans to families using less than 200 units of electricity for the purchase of a solar panel. The government is also considering abolishing the sales tax on agricultural machinery and seeds, he said.

On the health sector, Ismail said the proposed budget for the health sector would be over Rs. 24 billion, less than the outgoing budget. Among the ongoing PTI-led projects is the Naya Pakistan Housing Authority, which was awarded Rs. 500 million, compared to Rs. 30 billion in the outgoing financial year. The minister also said that non-resident Pakistanis would be required to become taxpayers in Pakistan unless they are tax residents of their country of residence.

The defense budget saw a massive hike of nearly 11% from Rs. 1.37 trillion rupees. 1.523 trillion. Disturbing for inflation rates, the government has set a non-tax revenue target of Rs. 750 billion from the Petroleum Development Tax, up nearly 455% from an estimated collection of around Rs. 135 billion during the current year.

Boris Johnson announces ‘brick benefits’ mortgage scheme in housing rules overhaul Thu, 09 Jun 2022 15:04:13 +0000

Families and low-wage workers will be able to use the benefits to save deposits and make mortgage payments, Boris Johnson has announced. The Prime Minister revealed the plans in a speech in Blackpool just days after surviving a deadly vote of confidence in his leadership.

Mr Johnson has pledged to turn ‘benefits into bricks’ – changing welfare rules so that the 1.5 million people who work but also on housing benefit have the choice of using it for a mortgage, rather than automatically going directly to private owners. and housing associations.

The UK government will launch a review of access to mortgage finance for first-time buyers, with the aim of facilitating wider access to low-cost, low-deposit finance, such as 5% down mortgages . He will report back in the fall.

Two and a half million tenants who rent their homes from housing associations will also have the right to buy them directly. Mr Johnson said: “We will continue to insist… that there is individual replacement so that when sales are made you use the receipts to build more… We want to see at least one replacement.”

LEARN MORE: How much rent does universal credit cover? Housing Charge Rules Explained

But plans to disrupt home buying will require careful consideration and serious investment, housing industry experts say.

Paul Coss, Chief Client Officer at digital mortgage broker Haysto, said: “The new housing benefit payment proposal presented by Prime Minister Boris Johnson today will help lower-paid workers who can use their benefits to contribute to the cost of getting onto the property ladder.

“Until recently, housing assistance – which costs the government £30billion a year – could not be declared as income for a mortgage, making it difficult for lower-paid workers to easily climb the levels of ownership.

“With the Right to Buy scheme also being extended, having first been introduced by Margaret Thatcher, it will also allow housing association tenants to buy their homes at reduced rates.

“While these are all positive steps to help low-wage workers move up the homeownership ladder, there are concerns that this program may not help in real life. To qualify for Universal Credit, people must have less than £16,000 in savings, which will prevent people from having enough money to put down a deposit.

“Furthermore, there are previous concerns about the supply of social housing and the possibility that such a policy could deplete the housing associations’ vital stock of properties, which can only be sustained if the government makes a similar comparison, one-for-one replacement system.

“So while the program looks really promising, it’s important that low-wage workers receive the right support to get on the property ladder and the program will only be successful if lenders actually commit to the program.”

Latest Universal Credit News

Charles Roe, director of mortgages at trade association UK Finance, said: “The mortgage industry recognizes the importance of home ownership and today’s Prime Minister’s announcements could help more people to achieve their dream of owning their own home.

“Companies are committed to lending responsibly, with regulatory rules in place to ensure mortgages are affordable – it will be important to carefully consider any changes to ensure they deliver good results for customers while throughout the term of the mortgage loan.

“We look forward to discussing the proposals and will continue to work closely with the government to help more people move up the housing ladder.”

Tim Bannister, Director of Real Estate Science at Rightmove, said: “If a review of the mortgage market could help address the challenge of needing such a large deposit, it would be very much welcomed by those in a position to demonstrate that they can afford monthly payments, but are currently locked out of homeownership.

“It is clear to see why there are many tenants eager to move up the ladder, as they are paying 40% more each month than 10 years ago, when low interest rates mean that payments average mortgages have only increased by 11% compared to this same time.

Alicia Walker, Head of Policy, Research and Campaigns at Centrepoint, said: ‘If the government is serious about turning ‘benefits into bricks’, we need to see a serious level of investment in truly affordable social rental housing.

“We support measures to improve home ownership, especially for young people, as rates have come down significantly over the past three decades. However, it is not clear how much this will really support people. in need.

“In addition, extending the right to buy to housing associations risks further eroding the social housing stock, which many young people desperately need. have not been kept.”

Kiran Ramchandani, director of policy and external affairs at Crisis, said: “This ill-conceived announcement is the exact opposite of what we need to tackle the growing housing crisis. For decades, our housing stock benefits has been laid bare…to suggest that money can be used to secure mortgages without a costly investment in the benefit system is a mistake.

“The only way to fix our broken housing system is to build more homes than people can afford – we urge the government to keep going if we are ever to end homelessness for good.”

Dan Wilson Craw, deputy director of Generation Rent, said: “Neither reviewing low deposit mortgages nor extending the right to buy to housing associations will solve the shortage of homes we need in places where people most want to live.

“For this, we need a social housing construction program beyond the individual replacement of homes purchased under the right to buy.”

Polly Neate, Shelter’s chief executive, said: “The Prime Minister’s housing plans are confusing, unworkable and a dangerous gimmick. Reckless plans to extend the right to buy will further jeopardize our supply of rapidly shrinking social housing.

“The math doesn’t add up: why try to sell the few truly affordable homes that are left – at great expense – when homelessness is on the rise and more than a million households are stuck on the waiting list ?

“The government needs to stop wasting time on the failed policies of the past and start building more of the safe social housing that this country really needs.”

James Andrews, personal finance expert at, said: “Boris Johnson shamelessly dives into Margaret Thatcher’s ‘greatest hits’ catalog to bolster backbench support after vote of no confidence damaging this week.”

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		Contrast First National (NASDAQ:FXNC) and FinWise Bancorp (NASDAQ:FINW)
		Sat, 04 Jun 2022 10:10:34 +0000


First National (NASDAQ:FXNC – Get Rating) and FinWise Bancorp (NASDAQ:FINW – Get Rating) are both small cap financial companies, but which company is better? We’ll compare the two companies based on profitability strength, analyst recommendations, institutional ownership, risk, earnings, dividends and valuation.

Analyst Notes

This is a breakdown of recent ratings and recommendations for First National and FinWise Bancorp, as provided by

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
National premiere 0 1 0 0 2.00
FinWise Bancorp 0 0 2 0 3.00

First National currently has a consensus price target of $51.00, suggesting a potential upside of 148.78%. FinWise Bancorp has a consensus price target of $19.00, suggesting a potential upside of 40.85%. Given First National’s possible higher upside, analysts clearly believe that First National is more favorable than FinWise Bancorp.

Valuation and benefits

This table compares the revenue, earnings per share (EPS), and valuation of First National and FinWise Bancorp.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
National premiere $47.32 million 2.71 $10.36 million $2.02 10:15 a.m.
FinWise Bancorp $81.09 million 2.13 $31.58 million N / A N / A

FinWise Bancorp has higher revenues and profits than First National.


This table compares the net margins, return on equity and return on assets of First National and FinWise Bancorp.

Net margins Return on equity return on assets
National premiere 22.93% 10.86% 0.90%
FinWise Bancorp N / A N / A N / A

Insider and Institutional Ownership

38.0% of First National’s shares are held by institutional investors. By comparison, 26.8% of FinWise Bancorp’s shares are held by institutional investors. 15.7% of First National’s stock is held by insiders of the company. Strong institutional ownership indicates that large fund managers, endowments, and hedge funds believe a stock is poised for long-term growth.


First National beats FinWise Bancorp on 7 out of 11 factors compared between the two stocks.

National First Company Profile (Get an assessment)

First National Corporation operates as a bank holding company for First Bank which provides various commercial banking services to small and medium-sized businesses, individuals, estates, local government entities, and nonprofit organizations in Virginia. The Company’s deposit products include individual checking, savings, money market and retirement accounts, as well as certificates of deposit and cash management solutions. Its lending products include construction loans, including residential, land acquisition and development loans; residential real estate loans for 1 to 4 families; and commercial real estate loans secured by commercial real estate, including multi-family residential buildings, office and retail properties, hotels, industrial buildings and religious facilities. The Company’s loan products also include commercial and industrial loans secured by business assets, such as accounts receivable, equipment and inventory; home equity loans; and secured and unsecured consumer loans, such as lines of credit, auto loans, deposit account loans, and installment and demand loans. Additionally, it provides wealth management services, including estate planning, asset investment management, trustee under agreement, trustee under will and estate settlement. In addition, the company offers title insurance and investment services; and owns other real estate sites and offices, as well as internet and mobile banking, remote deposit capture and other traditional banking services. It serves its customers through 20 bank branches, a loan origination office and a customer service center, as well as a network of ATMs. The company was founded in 1907 and is headquartered in Strasbourg, Virginia.

FinWise Bancorp Company Profile (Get an assessment)

FinWise Bancorp logoFinWise Bancorp operates as a bank holding company for FinWise Bank which provides various retail and corporate banking products and services. It offers various deposit products, including interest-bearing and interest-free, NOW, money market, checking and savings accounts, as well as time deposits and certificates of deposit. The Company also offers small business administration services, residential and commercial real estate loans, consumer loans and non-real estate commercial loans. Additionally, it offers debit cards, remote deposit capture, online banking, mobile banking, and direct deposit services; and cash and cash management services. The company operates a full-service banking location in Sandy, Utah; and a loan production office in Rockville Center, New York. FinWise Bancorp was founded in 1999 and is headquartered in Murray, Utah.

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South West businesses used by Queen as UK celebrates Platinum Jubilee Thu, 02 Jun 2022 06:00:00 +0000

Around 30 businesses in the South West have received a Royal Warrant from the Queen – a mark of recognition given to businesses that supply her with goods and services.

The concept of the Royal Warrant of Appointment dates back to the advent of the monarchy. The king and his court had to be provided for and, unsurprisingly, had to first enlist the services of the best in the land.

In the 15th century, royal traders were officially appointed in writing by means of a royal warrant issued by the Lord Chamberlain, a practice that continues today.

There are less than 850 royal warrants around the world and are considered by many to be the ultimate stamp of approval. Businesses with a Royal Warrant are businesses that have had an ongoing business relationship with the Queen for at least five years.

The companies represent a broad cross-section of the industry – from individual artisans to global corporations.

From candle maker to tailor, from horse drill to builder of royal carriages, here are some of the Queen’s favorite businesses in the South West.


Timber merchants and manufacturers of wooden gates

Buckland Down, Somerset

The manufacturer of wooden products, fences and gates celebrates its 120th anniversary next year.
Benefiting from the Queen’s Royal Warrant in 2000, it has supplied royal households for more than 25 years. Its products can be viewed at many National Trust properties, Westonbirt National Arboretum and Longleat Safari Park.


Scaffolding contractor

Swindon, Wiltshire

Founded over 20 years ago, the business provides scaffolding, temporary roofing and access solutions across southern England and Wales. Its specialist works division covers the construction of scaffolding around buildings of historical significance, such as palaces, monuments and castles.


carpet manufacturer

Axminster, Devon

Axminster Carpets has been supplying world renowned luxury wool carpets to the Royal Household since the time of King George III. He still uses traditional methods to weave wool carpets in the Devon market town.


Fresh fish merchants

Paington, Devon

Founded in 1981 from the port of Brixham in South Devon, Channel Fisheries sources British sea fish from the small fleet of day-boats. He obtained his Royal Warrant in 2006 as supplier of fresh fish to HM Queen Elizabeth II.



Single, Wiltshire

Founded in Bishopsgate, London, in 1845, the company has been manufacturing church candles for over 175 years. The manufacturer continues from its factory in Mere, Wiltshire, and now offers both scented and edible candles in its product range.


Agricultural engineers – grain handling specialists

Froxfield, Wiltshire

Specialists in grain handling, milling equipment, steel frame buildings and fabrication, the company offers a complete construction package from the planning and design request stage, as well as as electrical, mechanical and breakdown services.


Upholstery and Wall Covering Suppliers

Poole, Dorset

GP & J Baker, holder of the Royal Warrant since 1982, has an international reputation for its fabrics, wallpapers and trimmings. It has a showroom in the Chelsea Harbor Design Center and produces luxury fabrics, wallpapers and accessories under license for Mulberry Home. It also has a showroom in the ‘Design Street’ of Paris, Rue du Mail.


Stained glass conservators

Wells, Somerset

A family owned stained glass conservation studio established by Steve Clare in 1995. Holy Well Glass carry out work in major cathedrals, churches and country houses in the UK and beyond.


Animal pregnancy scan

Marlborough, Wiltshire


Remedial farrier

Sandhurst, Gloucester


Tuners and pipe organ builders

Devizes, Wiltshire

Founded by Joseph William Walker in 1828 in Soho, London, the business continues to thrive with a team based in Devizes since 2016. The specialist business preserves and restores organs as well as builds new ones used around the world.



Tidworth, Wiltshire

Founded by Army veteran Jonathan Knight in 2007. He served in the King’s Troop Royal Horse Artillery for 22 years, 15 of which as Master Tailor of the Single Ceremonial Unit. Originally just to serve the military, the business that started in his spare bedroom has grown over the years to make uniforms for regiments across the country, as well as providing tailoring, embroidery and printing to businesses and individuals.


Pet care product manufacturers

Stone cottage, Gloucestershire

Lister has been manufacturing world-class shearing and cutting equipment for over 100 years. Made in Britain, Lister products are designed and manufactured in Gloucestershire and sold worldwide.


Maintenance of dairy equipment

Grittenham, Wiltshire

MMT Services installs and maintains milking equipment, robotic milking equipment and milk cooling products. It supplies dairy accessories and chemicals to dairy farmers around Swindon in Wiltshire.


Horse fodder manufacturers

Marldon, Paignton

The original producers of the dust-free fodder, HorseHage, sold nationwide and in Europe. He received a Royal Warrant in 1983 after the Queen’s horse, Burmese, was fed HorseHage while suffering from a respiratory problem.

It is also the official dust-free fodder supplier to the British Equestrian Team and has been supplied to British equestrian teams at every Olympic Games since Los Angeles in 1984.


Supplier of horticultural products

Tetbury, Gloucestershire

The UK’s leading supplier of peat-free growing media, mulch, soil improvers, play and riding surfaces. He received the Royal Warrant in April 2022 after supplying the Queen for more than six years. Melcourt was established in 1983, supplying bulk loads of bark mulch to local communities and landscape contractors. Today, it also supplies market-leading peat-free composts to garden centres, building material dealers and professional growers.


Supplier of corporate uniforms and workwear

Thornbury, Bristol

Alexandra is a leading international supplier of workwear for men and women with over 160 years of experience. Alexandra, as it is now known, was established in Bristol as a drapery shop in the 1850s by Alfred Isaac Davis, selling fabrics and linens. Today it supplies workwear and uniforms to almost every industry in the UK. range of clients from many industries across Europe.

Mike Rowland

Wheelwrights and coachbuilders

Colyton, Devon

With generations of knowledge and skill, Mike Rowland repairs, restores and manufactures all types of wooden wheels, from state cars and motor cars to wheelbarrows and bicycles. It also specializes in the restoration of cannon and cannon carriages and is a specialist in traditional bodywork.


Self-adhesive protective film manufacturer

Exeter, Devon

Managing Director Andrew Orchard established Packexe in 1989 and has been supplying the Royal House with self-adhesive protective film since 2008. Packexe has extensive knowledge of protective films and supplies industries globally.


crystal table glassware suppliers

Torrington, Devon

Founded in 1776, Royal Brierley Crystal is one of the oldest names in British glassware. Today, as part of Dartington Crystal, Royal Brierley products are still handcrafted in England by skilled glassmakers. It provides cut crystal for home, table and specialty business gifts.


Fish salting and smoking

Westbury-on-Severn, Gloucestershire

Severn & Wye Smokery was founded in 1989 by Richard Cook and is renowned for its smoked salmon and salt fish. The smokehouse is located between two salmon rivers on the edge of the Royal Forest of Dean.


Custom manufacturer of horticultural equipment

Martock, Somerset

SFM Technology produced its first apple harvesting machine in 1985. Since then the company has grown steadily and developed into one of the world’s leading designers and manufacturers of fruit harvesting machines.



Wimborne, Dorset

Sherwood Tinning is a well-established tinning company specializing in copper utensil relining and refinishing, brass cleaning and polishing, historic hand wiped tinning, steel mixing bowls, polishing brass to copper and the re-tinning of copper pots and pans.



Tetbury, Gloucestershire

For more than 900 years, a mill has stood on the banks of the River Avon, with each generation producing flour over the centuries. Today, the stone-ground flours that now bear the historic name of Shipton Mill are ground with traditional French Burr millstones, just as they would have been in medieval times.


horse clothing supplier

Trowbridge, Wiltshire

Snuggy Hoods was founded over 20 years ago. Now a thriving global business, it leads the market in providing “blanketing” for horses to not only promote welfare, but also to facilitate day-to-day management for horse owners.


Refrigeration of dairy products

Marlborough, Wiltshire

A refrigeration and air conditioning engineering company specializing in the refrigeration of dairy products; cold rooms, including pantries, wine cellars, butcheries, mortuary cold rooms and dairies; commercial air conditioning and heat pumps; and cloud-based global remote monitoring (telemetry) systems.


Brush manufacturers

Single, Wiltshire

Hillbrush was founded in 1922 by brothers Fred and Bill Coward. This family business has become the UK’s largest manufacturer of brushware and hygienic cleaning tools.


Organ blower manufacturers

Poole, Dorset

The company’s specialist engineers perform repairs and maintenance on all types of organ blowing and humidification equipment across the country. It manufactures and installs new machines, supplies reconditioned equipment, performs overhauls and relocates equipment.

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