Latest news with #FTF
Yahoo
6 days ago
- Business
- Yahoo
Franklin Limited Duration Income Trust ("FTF" or the "Fund") Announces Notification of Sources of Distributions
SAN MATEO, Calif., May 29, 2025--(BUSINESS WIRE)--Franklin Limited Duration Income Trust [NYSE American: FTF]: Notification of Sources of Distributions Pursuant to Section 19(a) of the Investment Company Act of 1940 The Fund's estimated sources of the distribution to be paid on May 30, 2025, and for the fiscal year 2025 year-to-date are as follows: Estimated Allocations for May Monthly Distribution as of April 30, 2025: Distribution Per Share Net Investment Income Net Realized Short-Term Capital Gains Net Realized Long-Term Capital Gains Return of Capital $0.0615 $0.0436 (71%) $0.00 (0%) $0.00 (0%) $0.0179 (29%) Cumulative Estimated Allocations fiscal year-to-date as of April 30, 2025, for the fiscal year ending December 31, 2025: Distribution Per Share Net Investment Income Net Realized Short-Term Capital Gains Net Realized Long-Term Capital Gains Return of Capital $0.2460 $0.1660 (67%) $0.00 (0%) $0.00 (0%) $0.0800 (33%) Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's Plan. FTF estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the FTF distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect FTF's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes. Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 4/30/2025)1 Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 4/30/2025)2 Cumulative Total Return (in relation to the change in NAV for the fiscal period through 4/30/2025)3 Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 4/30/2025)4 4.96% 11.01% 0.06% 3.67% Fund Performance and Distribution Rate Information: Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through April 30, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid. The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through April 30, 2025. Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through April 30, 2025, assuming reinvestment of distributions paid. The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period (December 31, 2024 through April 30, 2025), as a percentage of the Fund's NAV as of April 30, 2025. The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0615 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made. For further information on Franklin Limited Duration Income Trust, please visit our web site at: Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of April 30, 2025. For more information, please visit View source version on Contacts Franklin Templeton1-800-342-5236 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
Business Wire
07-05-2025
- Business
- Business Wire
Coalition 2025 Cyber Claims Report Finds Ransomware Stabilized but Remains Costly for Businesses
SAN FRANCISCO--(BUSINESS WIRE)-- Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its 2025 Cyber Claims Report, which details emerging cyber trends and their impact on Coalition policyholders throughout the full year of 2024. The report found that ransomware claims stabilized in 2024 despite remaining the most costly and disruptive type of cyberattack. The majority of 2024 claims (60%) originated from business email compromise (BEC) and funds transfer fraud (FTF) incidents, with 29% of BEC events resulting in FTF. 'Over the past year, our claims data clearly demonstrates one thing: Active Insurance works,' said Robert Jones, Head of Global Claims at Coalition. 'Combining Coalition's Active Data Graph, which provides a massive amount of data insights, with security tools and incident response, helps Coalition prevent claims from happening in the first place. And, when matters were reported to Coalition, 56% were handled without any out-of-pocket payments by the policyholder. We believe that this proactive engagement is a critical aspect of reducing global cyber risk.' Ransom demands from threat actors decreased in 2024, dropping 22% year-over-year (YoY) to an average of $1.1 million. Notably, the average demand in the latter half of 2024 fell below $1 million for the first time in more than two years. Of all ransomware claims, Akira ransomware was the most prolific variant for Coalition policyholders, accounting for 13% of claims in 2024. The Black Basta variant accounted for just 3% of all ransomware claims, but was the highest in terms of demand, with an average of $4 million. 'While overall claims have stabilized, cyber attackers, and ransomware actors in particular, still pose a tremendous threat to businesses, with the average demand still in the millions of dollars. Unfortunately, ransomware is already back with a vengeance in 2025, as March held the highest volume of public ransomware cases of all time,' continued Jones. 'Coalition continues to be an active partner in the fight against bad actors. We alert our policyholders to vulnerabilities in their networks, risky security practices, and the best ways to mitigate threats to reduce the impacts of cyber attacks.' In 2024, Coalition's cooperative efforts with authorities and panel partners contributed to the successful clawback of $31 million for policyholders, with an average recovery of $278,000. Coalition has firsthand knowledge that policyholders that quickly report FTF events have a greater likelihood of recovery. Last month, Coalition introduced a new financial incentive in its Active Cyber Policy 1. Clients can receive lower retentions when they report FTF incidents within 72 hours of the initial fraudulent transfer, encouraging prompt action to improve the odds of recovery. Other key findings from the report include: As claims frequency decreased by 7% YoY, claims severity remained stable. Ransomware claims frequency decreased by 3% and severity decreased by 7% YoY. BEC claims severity increased by 23%. FTF claims frequency decreased by 2% and severity decreased by 46% YoY. The sharp decline in severity follows the all-time high in 2023. When deemed reasonable and necessary, 44% of policyholders that experienced a ransomware incident opted to pay the ransom. Coalition Incident Response (CIR) was able to negotiate ransom payments down 1 by an average of 60%. Coalition policyholders experienced 73% 2 fewer claims than the industry average. This report presents statistics, charts, and risk insights derived from data collected from Coalition policyholders in the United States, Canada, the United Kingdom, and Australia. Download the full 2025 Cyber Claims Report from Coalition to learn more: __________________ 1 Applies to all non-admitted surplus lines new business and renewal quotes in the United States on or after April 15, 2025. Exclusions and limitations apply. See disclaimers and policy as issued. 2 Ransomware negotiation data based on cases handled by Coalition Incident Response, Inc. a wholly-owned affiliate firm of Coalition, Inc. made available to all policyholders as an option via incident response firm panel selection. 3 Industry average based on data reported by US insurers to the National Association of Insurance Commissioners (NAIC). Comparison performed using 2023 claims frequency data from Coalition and NAIC. Claims frequency is calculated using the number of standalone cyber claims reported by the NAIC, divided by the average of standalone cyber policies in force at the current and prior year-ends. Expand About Coalition Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage with cybersecurity tools, Coalition helps businesses manage and mitigate potential cyberattacks. Leveraging its relationships with leading global insurers and capacity providers, including Coalition Insurance Company, Coalition offers Active Insurance products to businesses in the United States, the United Kingdom, Canada, Australia, Germany, Denmark, and soon in Sweden. Policyholders can receive automated cyber alerts and access expert advice, as well as global third-party risk management tools through Coalition's cyber risk management platform, Coalition Control®. Insurance products are offered by Coalition Insurance Solutions Inc. ('CIS'), a licensed insurance producer and surplus lines broker with its principal place of business in San Francisco, CA (Cal. license #0L76155), acting on behalf of a number of unaffiliated insurance companies and available on an admitted basis through Coalition Insurance Company ('CIC') a licensed insurance underwriter (NAIC # 29530). Insurance products offered through CIS and CIC may not be available in all states. Complete license and carrier information is available here. CIS may receive compensation from an insurer or other intermediary in connection with the sale of insurance. All decisions regarding any insurance products referenced herein, including approval for coverage, premium, commission, and fees, will be made solely by the insurer underwriting the insurance under the insurer's then-current criteria. All insurance products are governed by the terms, conditions, limitations, and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions, and exclusions. Copyright © 2025. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc. or its affiliates.
The Guardian
14-04-2025
- Business
- The Guardian
‘Silicon Six' accused of avoiding almost $278bn in US corporation taxes over 10 years
The big American tech firms known as the 'Silicon Six' have been accused of paying almost $278bn (£211bn) less corporate income tax in the past decade compared with the statutory rate for US companies making the same profits. Amazon, Meta, Alphabet, Netflix, Apple and Microsoft generated $11tn of revenue and $2.5tn of profits over the past 10 years. Yet they paid an average 18.8% in combined national and federal corporation taxes, compared with an average 29.7% in the US, according to the Fair Tax Foundation (FTF), which said the Silicon Six had 'hardwired' tax avoidance into their business models. Analysis by the not-for-profit organisation found that if one-off repatriation tax payments in the US connected to historical tax avoidance were excluded, the average corporate income tax contribution of the six firms fell to 16.1% over the past decade. The companies had also inflated their stated tax payments by $82bn over the same period by including contingencies for tax they did not expect to pay, the report claimed. Paul Monaghan, the chief executive of the FTF, said: 'Our analysis would indicate that tax avoidance continues to be hardwired into corporate structures. The Silicon Six's corporate income tax contributions are, in percentage terms, way below what sectors such as banking and energy are paying in many parts of the world.' Monaghan pointed to 'aggressive tax practices' such as the contingency tax positions, while the companies also exerted 'enormous political influence as well as economic power', spending millions of dollars on lobbying governments. The report comes as the US tech companies' influence has been highlighted by the presence of their bosses including Amazon's Jeff Bezos, Apple's Tim Cook and Meta's Mark Zuckerberg at Donald Trump's second inauguration. A significant tax cut for such companies has reportedly been at the heart of discussions with the UK in its attempts to secure lower tariffs on its products exported to the US. Monaghan said that much of the Silicon Six's overseas revenue was subject to low-level rates of corporate income tax in the US via a tax break for foreign-derived intangible income. FTF said overseas sales were also subject to lower rates of income tax because of a combination of lower profit margins and booking profits in low-tax jurisdictions. Netflix had the lowest rate of tax actually paid compared with profit booked, at 14.7%, while Microsoft paid 20.4%. FTF said Amazon had the worst tax conduct based on the factors such as the total amount of tax paid and 'obvious profit shifting' – such as booking a sizeable portion of its UK income in low-tax Luxembourg. However, Amazon's corporate tax rate was 19.6%, well ahead of Netflix, Meta (15.4%) and Apple (18.4%). A spokesperson for Amazon said its UK retail revenues, associated expenses, profits and taxes were recorded in the UK, and reported and paid directly to HM Revenue and Customs. They said: 'Governments write the tax laws and Amazon is doing the very thing these laws encourage companies to do – paying all taxes due while also investing billions in creating jobs and infrastructure. Since 2010, we have invested more than $1.2tn in the US and over €250bn [£215bn] in Europe. Coupled with low margins, this investment will naturally result in a lower cash tax rate, particularly when measured as a percentage of revenue.' A spokesperson for Meta said: 'We follow international and local tax rules, ensuring that we pay all taxes required in each of the countries where we operate.' A Netflix spokesperson said: 'Governments determine tax rules and rates – and companies comply with them. Netflix complies with the relevant tax rules and regulations in every country in which we operate.' Microsoft, Alphabet and Apple were all approached for comment.
Yahoo
11-04-2025
- Business
- Yahoo
Coalition launches new surplus lines cyber policy for businesses
Coalition, a provider of Active Insurance, has launched a new surplus lines cyber insurance product to protect businesses against digital risks in the US. The new policy, dubbed Coalition Active Cyber Policy, introduces data-driven coverage enhancements to protect businesses in the evolving digital risk environment. According to Coalition, the policy offers expanded protections tailored to modern digital threats and specific benefits for policyholders that actively engage in cyber risk management. The policy is structured to reduce retention costs to zero for each year for policyholders that demonstrate proactive risk management, the company added. It includes provisions for early reporting of funds transfer fraud (FTF), offering reduced retentions for clients that report FTF incidents within a 72-hour window. The policy also extends coverage to include AI-related security events such as deepfake-enabled FTF and security failures caused by AI. The policy also features Any One Claim Coverage, which allows the full policy limit to reset for each incident within the policy period. Coalition has consolidated 11 coverages that were previously offered as endorsements into the base policy's insuring agreements. The new policy is available to organisations with annual revenues up to $5bn, and offers limits of up to $15m. Coalition chief revenue officer Shawn Ram said: 'With the launch of the Active Cyber Policy, Coalition is setting the standard for market-leading coverage that includes expanded protection against emerging digital threats and specific advantages for security-conscious policyholders. 'Active Insurance is built on the predication that proactive security measures significantly reduce the frequency and severity of claims – in fact, our data proves it. And now, brokers can offer improved policy terms that enhance coverage to clients who actively participate in their cyber risk management.' Last month, Coalition secured a $30m (Y4.39bn) equity investment from Mitsui Sumitomo Insurance, a subsidiary of MS&AD Insurance Group. This investment strengthens their existing relationship, which includes a multi-year capacity agreement in Australia and a joint initiative to provide cybersecurity solutions to small and medium-sized enterprises in Japan. "Coalition launches new surplus lines cyber policy for businesses " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
21-02-2025
- Sport
- Yahoo
Former Tunisian FA boss Jary jailed for corruption
Wadie Jary, the former president of the Tunisian Football Federation (FTF), has been sentenced to four years in prison on corruption charges. A spokesperson for the country's sports ministry told the AFP news agency that the conviction related to an "unlawful contract between the FTF and a technical director" during Jary's time in office. The 52-year-old's lawyers say he will appeal against the verdict. Jary was first elected head of the FTF in 2012 and faced multiple allegations of impropriety during his reign, including match-fixing, financial misconduct and money laundering, all of which he denied. Local media also reported on disputes between Jary and the sports ministry, while in January 2021 he received a four-year ban from the Tunisian National Olympic Committee after it claimed he had "breached national and international Olympic ethics codes". Despite that ban, Jary was elected to the Confederation of African Football's (Caf) executive committee just two months later. He remained on the the committee while awaiting trial, with Caf general secretary Veron Mosengo-Omba telling the BBC last year that the organisation was "not protecting crooks" and would make a decision on Jary once a verdict was delivered by the Tunisian legal system. After the charges against him emerged, Jary was taken into custody in October 2023. Bans, barbs and boats: the town tackling Tunisian football Tunisia risk possible ban from World Cup in Qatar
