Latest news with #Bancorp
Scoop
3 days ago
- Business
- Scoop
Trump Tariffs Critique Sparks Councillor To Jump To US President's Defence
If Donald Trump ever found himself on the West Coast, he could count on at least one fan to roll out the regional council welcome mat. Goldmining councillor Allan Birchfield sprang to the defence of the US President at this month's corporate services meeting, after the council's treasury advisor critiqued Trump's tariff policies and their chaotic impact on financial markets. Bancorp corporate manager Miles O'Connor was presenting the firm's quarterly report on the West Coast Regional Council's (WCRC) $14 million investment fund, and the global trends likely to affect interest rates - all backed up with graphs, facts and figures. The US was moving away from acting in the world's interest towards an America-centric approach, he noted. Traditionally 60 percent of the world's capital had gone to the US because it was seen as a safe haven in uncertain times, O'Connor said. But the volatility in the equity and bond markets that followed Trump's 'Liberation Day' tariffs had not been seen since the stock market crash of 1987, and had caused a flight of capital out of the US and into European, Asian, and Japanese markets. Predicting profits and interest rates had become so difficult that some banks and major companies had given up forecasting completely, O'Connor said. The US president had also challenged the independence of the Federal Reserve by calling on its governor to cut interest rates. "Now that's just not done normally by political leaders. You don't see our Reserve Bank being told by the Prime Minister you must drop rates. "It's inherent in monetary policy that the central bank is independent of political influence." Trump had since reduced the 145 percent on Chinese goods to 30 percent, and the markets had settled down somewhat, but some tariffs would be permanent and New Zealand exports would be affected, O'Connor said. A recent Federal Reserve survey showed the tariffs were not working as hoped in the US domestic market: businesses were passing on price hikes to customers which was inflationary and hardly any overseas companies were relocating to the US. "My view is (Trump) probably won't go back to what he was doing; he probably didn't expect the reaction he got." Two Trump policies that did make sense were US defence spending and ending "unfettered" immigration, O'Connor said. "I'm not totally opposed to what he (Trump) does - some of the other policies I am slightly dubious about." Councillor Birchfield, whose goldmine office sports a large photo of Trump, seized his opening. "I'm pleased you're starting to give Donald a bit of credit - you go on with the usual rhetoric, anti-Donald Trump. "You say the US only does stuff in its own interest - you need to think about the US Navy - it guarantees freedom of trade - even for China [and] it's a huge cost on the US taxpayer." The US had recently "sorted out" the (Yemen rebel group) Houthis who had been disrupting world trade, Birchfield said. "Nobody else is gonna do that so you do need to start recognising the value of the US. And I see you saying it could impact New Zealand exports. "You don't really know. Lift your game," Birchfield instructed the Bancorp manager. O'Connor agreed the US did protect world trade. "But [the tariffs] are having an effect on our exports - we know that from some of our clients who've had orders cancelled." Birchfield continued, saying Trump had a huge problem of debt and a trade imbalance with China. "There's gonna be a bit of a shake down but at the end of the day he had to sort that out." O'Connor said the reason for the trade imbalance was that the US just could not match China's manufacturing capabilities. Council chairperson Peter Haddock put an end to the exchange, saying "We've had a shot across the bows by the US". "We have to recognise the volatility in the world... the best we can get out of it is lower interest rates." O'Connor said the official cash rate was likely to drop to three percent this year or possibly lower by November. The council had longer term cover in place for its investments and would not need to make any changes until next year, he said.
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
Councillor springs to defence of Trump
If Donald Trump ever found himself on the West Coast, he could count on at least one fan to roll out the regional council welcome mat. Goldmining councillor Allan Birchfield sprang to the defence of the US President at this month's corporate services meeting, after the council's treasury adviser critiqued Mr Trump's tariff policies and their chaotic impact on financial markets. Bancorp corporate manager Miles O'Connor was presenting the firm's quarterly report on the West Coast Regional Council's (WCRC) $14-million investment fund, and the global trends likely to affect interest rates — all backed up with graphs, facts and figures. The US was moving away from acting in the world's interest towards an America-centric approach, he noted. Traditionally 60% of the world's capital had gone to the US because it was seen as a safe haven in uncertain times, Mr O'Connor said. Predicting profits and interest rates had become so difficult that some banks and major companies had given up forecasting completely, Mr O'Connor said. The US president had also challenged the independence of the Federal Reserve by calling on its governor to cut interest rates. "Now that's just not done normally by political leaders. You don't see our Reserve Bank being told by the prime minister you must drop rates. It's inherent in monetary policy that the central bank is independent of political influence." Mr Trump had since reduced the 145% tarrifs on Chinese goods to 30%, and the markets had settled down somewhat, but some tariffs would be permanent and New Zealand exports would be affected, Mr O'Connor said. "My view is (Mr Trump) probably won't go back to what he was doing; he probably didn't expect the reaction he got." Two Trump policies that did make sense were US defence spending and ending "unfettered" immigration, Mr O'Connor said. "I'm not totally opposed to what he (Mr Trump) does — some of the other policies I am slightly dubious about." Cr Birchfield — whose goldmine office sports a large photo of Mr Trump, seized his opening. "I'm pleased you're starting to give Donald a bit of credit ... you go on with the usual rhetoric, anti-Donald Trump. "You say the US only does stuff in its own interest — you need to think about the US Navy — it guarantees freedom of trade — even for China [and] it's a huge cost on the US taxpayer." Mr O'Connor agreed the US does protect world trade. "But [the tariffs] are having an effect on our exports — we know that from some of our clients who've had orders cancelled." Mr Birchfield continued, saying Trump has got huge problem of debt and a trade imbalance with China. Mr O'Connor said the reason for the trade imbalance was that the US just could not match China's manufacturing capabilities. Council chairman Peter Haddock put an end to the exchange, saying "we've had a shot across the bows by the US". "We have to recognise the volatility in the world ... the best we can get out of it is lower interest rates." ■LDR is local body journalism co-funded by RNZ and NZ On Air.
RNZ News
4 days ago
- Business
- RNZ News
Trump tariffs critique sparks councillor to jump to US President's defence
West Coast Regional Councillor Allan Birchfield expressed his support for the United States and President Donald Trump in a recent meeting. Photo: LDR If Donald Trump ever found himself on the West Coast, he could count on at least one fan to roll out the regional council welcome mat. Goldmining councillor Allan Birchfield sprang to the defence of the US President at this month's corporate services meeting, after the council's treasury advisor critiqued Trump's tariff policies and their chaotic impact on financial markets. Bancorp corporate manager Miles O'Connor was presenting the firm's quarterly report on the West Coast Regional Council's (WCRC) $14 million investment fund, and the global trends likely to affect interest rates - all backed up with graphs, facts and figures. The US was moving away from acting in the world's interest towards an America-centric approach, he noted. Traditionally 60 percent of the world's capital had gone to the US because it was seen as a safe haven in uncertain times, O'Connor said. But the volatility in the equity and bond markets that followed Trump's 'Liberation Day' tariffs had not been seen since the stock market crash of 1987, and had caused a flight of capital out of the US and into European, Asian, and Japanese markets. Predicting profits and interest rates had become so difficult that some banks and major companies had given up forecasting completely, O'Connor said. The US president had also challenged the independence of the Federal Reserve by calling on its governor to cut interest rates. "Now that's just not done normally by political leaders. You don't see our Reserve Bank being told by the Prime Minister you must drop rates. "It's inherent in monetary policy that the central bank is independent of political influence." Trump had since reduced the 145 percent on Chinese goods to 30 percent, and the markets had settled down somewhat, but some tariffs would be permanent and New Zealand exports would be affected, O'Connor said. A recent Federal Reserve survey showed the tariffs were not working as hoped in the US domestic market: businesses were passing on price hikes to customers which was inflationary and hardly any overseas companies were relocating to the US. "My view is (Trump) probably won't go back to what he was doing; he probably didn't expect the reaction he got." Two Trump policies that did make sense were US defence spending and ending "unfettered" immigration, O'Connor said. "I'm not totally opposed to what he (Trump) does - some of the other policies I am slightly dubious about." US President Donald Trump threatened China with a 145 percent trade tariff before reducing it to 30 percent. Photo: ALON SKUY / AFP Councillor Birchfield, whose goldmine office sports a large photo of Trump, seized his opening. "I'm pleased you're starting to give Donald a bit of credit - you go on with the usual rhetoric, anti-Donald Trump. "You say the US only does stuff in its own interest - you need to think about the US Navy - it guarantees freedom of trade - even for China [and] it's a huge cost on the US taxpayer." The US had recently "sorted out" the (Yemen rebel group) Houthis who had been disrupting world trade, Birchfield said. "Nobody else is gonna do that so you do need to start recognising the value of the US. And I see you saying it could impact New Zealand exports. "You don't really know. Lift your game," Birchfield instructed the Bancorp manager. O'Connor agreed the US did protect world trade. "But [the tariffs] are having an effect on our exports - we know that from some of our clients who've had orders cancelled." Birchfield continued, saying Trump had a huge problem of debt and a trade imbalance with China. "There's gonna be a bit of a shake down but at the end of the day he had to sort that out." O'Connor said the reason for the trade imbalance was that the US just could not match China's manufacturing capabilities. Council chairperson Peter Haddock put an end to the exchange, saying "We've had a shot across the bows by the US". "We have to recognise the volatility in the world... the best we can get out of it is lower interest rates." O'Connor said the official cash rate was likely to drop to three percent this year or possibly lower by November. The council had longer term cover in place for its investments and would not need to make any changes until next year, he said. LDR is local body journalism co-funded by RNZ and NZ On Air. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
21-05-2025
- Business
- Yahoo
Are Options Traders Betting on a Big Move in Bank of Marin Stock?
Investors in Bank of Marin, Bancorp BMRC need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 18, 2025 $30.00 Call had some of the highest implied volatility of all equity options today. Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy. Clearly, options traders are pricing in a big move for Bank of Marinshare, but what is the fundamental picture for the company? Currently, Bank of Marinis a Zacks Rank #4 (Strong Sell) in the Banks - west Industry that ranks in the Top 33% of our Zacks Industry Rank. Over the last 60days, one analyst has increased his estimate for the current quarter, while one has revised their estimate downwards. The net effect has taken our Zacks Consensus Estimate for the current quarter to move from 37 cents per share to 36 cents in the same time period. Given the way analysts feel about Bank of Marinright now, this huge implied volatility could mean there's a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected. Check out the simple yet high-powered approach that Zacks Executive VP Kevin Matras has used to close recent double and triple-digit winners. In addition to impressive profit potential, these trades can actually reduce your risk. Click to see the trades now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of Marin Bancorp (BMRC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
17-05-2025
- Business
- Associated Press
Final TBBK Deadline Reminder: May 16, 2025 Filing Deadline in Securities Class Action - Contact Kessler Topaz Meltzer & Check, LLP
RADNOR, PA - May 16, 2025 ( NEWMEDIAWIRE ) - The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that a securities class action lawsuit has been filed against The Bancorp, Inc. ('Bancorp') ( NASDAQ: TBBK ) on behalf of those who purchased or otherwise acquired Bancorp securities between January 25, 2024, and March 4, 2025, inclusive (the 'Class Period'). The lead plaintiff deadline is May 16, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Bancorp losses, you may CLICK HERE or copy and paste the following link into your browser: You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT: The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bancorp had underrepresented the significant risk of default or loss on its real estate bridge loans portfolio; (2) Bancorp's current expected credit loss methodology was insufficient to account for the provision and/or allowance of credit losses; (3) as a result, Bancorp was reasonably likely to increase its provision for credit losses; (4) there were material weakness in Bancorp's internal control over financial reporting; (5) Bancorp's financial statements had not been approved by its independent auditor; (6) as a result of the foregoing, Bancorp's financial statements could not be relied upon; and (7) that, as a result of the foregoing, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. THE LEAD PLAINTIFF PROCESS: Bancorp investors may, no later than May 16, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Bancorp investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. (484) 270-1453 280 King of Prussia Road Radnor, PA 19087 [email protected] May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes. View the original release on
