Latest news with #Velocity
Korea Herald
5 minutes ago
- Business
- Korea Herald
Hanwha Life makes Wall Street debut with Velocity acquisition
Hanwha Life Insurance has completed its acquisition of Velocity Clearing, becoming the first South Korean insurer to enter the US brokerage industry. The deal, which closed Thursday, gives Hanwha a 75 percent stake in Nexus Clearing, the top holding company of Velocity. Hanwha said the acquisition will boost profitability and expand global investment offerings for clients. Founded in 2003, New York-based Velocity Clearing is a technology-driven brokerage providing end-to-end trading infrastructure, including execution, clearing, custody, securities lending and financing. The firm manages roughly $1.2 billion in assets and has recorded a compound annual growth rate of 25 percent over the past three years. Hanwha plans to collaborate with Velocity's existing management to ensure a smooth integration, while pursuing synergies with affiliates such as Hanwha Asset Management's US office and the Hanwha AI Center. 'This deal is especially meaningful as it gives Hanwha Life a foothold to demonstrate the capabilities of a Korean financial institution in the heart of the global financial market,' a company spokesperson said. 'We will continue to enhance our digital finance capabilities and global network to drive long-term growth.' Velocity CEO Michael Logan said, 'We expect Hanwha Life's global vision and network to accelerate Velocity's growth trajectory and look forward to maximizing synergies between the two firms.' Established in 1946 as Korea's first life insurer, Hanwha Life is among the nation's largest, with 160.2 trillion won ($115.2 billion) in consolidated assets. It posted the industry's second-highest net profit in 2024 at 720 billion won, while recording the highest premium income in the first quarter at 4.4 trillion won. The deal underscores Hanwha's broader push into overseas markets as it transitions into a global financial group. In June, it also acquired a 40 percent stake in Indonesia's Nobu Bank, marking the first overseas banking investment by a Korean insurer.
The Australian
2 days ago
- Business
- The Australian
How Qantas Frequent Flyer, Velocity compare to other airline loyalty programs
Analysis of the best frequent flyer programs for Australian travellers has ranked Virgin Atlantic as number one based on the average value of each point earned. Australian Frequent Flyer's Matt Graham and Wilson McTaggart undertook the detailed analysis in an effort to throw some light on one of the murkiest areas of loyalty schemes. It was noted the value of points varied dramatically based on redemptions — with Qantas Frequent Flyer members getting the equivalent of 0.46 cents a point for a gift card, and as much as 3.66c a point for a domestic flight cabin upgrade. Overall, Qantas points were valued at an average 1.8c per point, just ahead of Virgin Australia's Velocity on 1.7c, and behind Virgin Atlantic's Flying Club at 2.1c. Qatar Airways' Privilege Club 'avios' were worth an average 2c a point, and Cathay Pacific and Air France loyalty programs 1.9c a point. At the other end of the scale was Air New Zealand airpoints — estimated to be worth a mere 1c per point, and Etihad Guest and Emirates' Skywards at 1.3c. Mr Graham acknowledged Virgin Atlantic did not fly to Australia, but said the airline offered 'relatively good value redemptions with lower points requirements than other programs for similar flights'. 'In addition, Virgin Atlantic is part of SkyTeam, and there is very good reward flight availability on key routes, including from Australia to Asia with partner airlines such as Garuda Indonesia and Vietnam Airlines,' he said. 'With Virgin Atlantic Flying Club, you can also book trans-Tasman flights on Air New Zealand as well as economy class flights on Virgin Australia.' On the homegrown front, it was noted it was easy to earn large amounts of points with Qantas Frequent Flyer and Virgin Velocity, particularly through points-earning credit cards. But, Qantas points were considered slightly more valuable, partly due to higher airfares with more inclusions and better access to lounges. Mr Graham said there was no question the best use of Qantas points was for business class reward flights between Australia and Asia, closely followed by using points for upgrades and domestic flights. 'For example, a business class redemption from Sydney to Tokyo through Qantas Frequent Flyer would net you around 3.4 cents per point of value, more than seven times the value of a gift card,' he said. 'The same Sydney-Tokyo business class redemption through Velocity Frequent Flyer is worth around 2.7 cents per point.' Velocity chief executive Nick Rohrlach said the program made it easier to earn and redeem points across a wide range of partners, and competitive fares meant members could access rewards sooner. 'While points valuations can vary depending on methodology and timing, we remain focused on providing a rewarding and accessible program that meets the needs of Australian travellers,' said Mr Rohrlach. Loyalty expert Adele Eliseo of The Champagne Mile said the Australian Frequent Flyer analysis showed there was 'value hiding in programs that may not be on most Australians' radar'. 'As a UK-based program, Virgin Atlantic isn't as easy to earn into as Qantas or Velocity but it's accessible to Australians Amex Membership Rewards,' Ms Eliseo said. 'Virgin Atlantic's high valuation is partly built on access to Air New Zealand's premium cabin seats, with standout redemptions like 15,000 miles for business class from Australian cities to Auckland.' She said it was somewhat ironic that while Air New Zealand's own program delivered some of the weakest returns, 'international partners monetised its best inventory'. 'Air New Zealand's own program Airpoints Dollars, is little more than a fixed cash rebate,' said Ms Eliseo. Although there was no question that airline loyalty programs differed considerably, Mr Graham said the best rule of thumb was to not tie yourself down to just one. 'Collecting points with multiple airline programs — or better, flexible credit card reward programs that let you transfer your points out as needed — ensures you can get the best value for your points every time you want to redeem them,' he said. 'It also helps spread the risk, in case a particular airline devalues its frequent flyer program at short notice.' Read related topics: Qantas Robyn Ironside Aviation Writer Robyn Ironside is The Australian's aviation writer, and has twice been recognised by the Australasian Aviation Press Club (in 2020 and 2023) as the best aviation journalist. She has been with The Australian since 2018, and covered aviation for News Corp since 2014 after previously reporting on Queensland state politics and crime with The Courier-Mail. Aviation A 737 aircraft has been severely damaged after becoming detached from a tug vehicle and colliding with it at Melbourne Airport. Aviation The Boeing 747 was being towed for maintenance when the incident happened, leaving an enormous rip in the side of the aircraft.
IOL News
3 days ago
- Sport
- IOL News
Seasoned sailor Nqoba Mswazi launches sailing initiative to empower youth in KwaZulu-Natal
Nqoba Mswazi has launched MH Performance Sailing to uplift young sailors in KwaZulu-Natal. Image: Supplied While the MSC Week regatta was underway off the coast of Durban, another significant moment in local sailing was quietly unfolding onshore. Nqoba Mswazi, a seasoned sailor with international experience, returned home not just to race but to launch something much bigger than a single event: MH Performance Sailing. Now based in the Mediterranean as a first mate on a super yacht, Mswazi has made his participation in MSC Week an annual tradition. However, this year, the regatta coincided with the official unveiling of his sailing initiative, which aims to uplift young sailors in KwaZulu-Natal. Standing proudly at the Royal Natal Yacht Club, Mswazi announced the formation of MH Performance Sailing on the eve of the 49th MSC Week which took place recently. 'The sport of sailing has given me so much. It has opened so many doors I never dreamed possible,' he said. 'I am hoping that through MH Performance Sailing, I will be able to give back and open some doors for a few others that share my love for this amazing sport.' His stable currently includes two L26 yachts: Velocity, purchased in 2023, and Element, the former Point Yacht Club Lipton Cup Challenger, which had been in storage since its last campaign. Both boats flew the MH Performance Sailing flag for the first time during MSC Week. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Raised in uMgababa south of Durban, Mswazi was among the first participants in the Sail Africa Foundation, a project launched by the Clipper Round the World sailor Craig Millar. Since then, his journey has taken him across oceans, from the Lipton Cup to the Vasco da Gama Ocean Race and to the Clipper Round the World Yacht Race. But even with global experience under his belt, he hasn't lost sight of where it all began. 'Durban is an incubator for amazing talent,' he said. 'I want Durbanites to remain on their local waters and, from our beautiful home base, go and make waves on the international scene.' MH Performance Sailing is designed to serve as a stepping stone for young sailors who have already learned the basics but need support to take the next step. His MSC Week crew was made up entirely of young local sailors: some relatively inexperienced, others who had competed in international events like the Mirror Worlds, but all eager to improve. 'MSC Week was amazing even though there was a lot of pressure on us,' Mswazi said. 'But I'm proud of the guys I selected, and we proved that anything is possible if you believe in it.' The final race proved decisive. 'We were sitting on top of the leaderboard, but equal on points with our toughest competitor, Rainhard Lenz on Grayhard,' he said. 'We had to go out there and sail the race of our lives to win. We pushed the boat like never before, in a breeze that all but evaporated. The conditions were extremely challenging.' They emerged as 2025 L26 National Champions, MH Performance Sailing's first title. 'This is hopefully the first of many,' Mswazi said. His long-term goal is to grow the project into a launchpad for youth aiming for international sailing. 'My vision is to give youth the opportunity to step onto a competitive boat and reach for their stars,' he said. 'To be the best, you have got to beat the best.' Mentorship, he added, has played a vital role in his own development. 'It helped me to stay focused,' he said. 'It is really special having supportive people in your corner wanting to see you succeed in life.' Reflecting on his early days in sailing, Mswazi said he never imagined a career on the water. 'Not at all,' he said. 'But I felt at home on the water and saw an opportunity to make it as a career working on the big boats, so I followed that path. And I love it.' Side by side, MH Performance Sailing teams Element skippered by Nicolene Henkeman and Velocity skippered by Anna Correa head up to the top mark on day five of the MSC Week recently hosted offshore of Durban by Point Yacht Club. MH Performance Sailing, a vision of Nqoba Mswazi, was launched on the eve of the highly competitive regatta. Image: Chris Clark Asked what advice he would give to young people especially from rural KZN, Mswazi said: 'Stay true to yourself and focus on one goal so you can never lose direction. Mainly, be bold, never give up and stay humble.' He has headed back to the Med, leaving MH in the hands of his operations partner, Nicolene Henkeman. 'I need to head back to work to make some money so that I can spend it on the new boats, as well as keep MH Performance Sailing running.' For Mswazi, it's more than just racing. It's building a lasting platform for the next generation. THE MERCURY
The Citizen
21-07-2025
- Entertainment
- The Citizen
Umgababa sailor launches sailing venture
WHILE Durban's coastline hosted fierce competition during the 49th MSC Week regatta, which wrapped up on July 11, Umgababa sailor Nqoba Mswazi stole the spotlight with the launch of his sailing venture, MH Performance Sailing. Also read: Umgababa sailing ace clinches second place On the eve of the regatta at the Royal Natal Yacht Club, Mswazi proudly introduced his fleet of two L26 yachts, Velocity and Element, marking a significant milestone in his sailing journey. Mswazi, affectionately known in sailing circles as 'The Machine', has travelled an extraordinary journey from the shores of uMgababa to international waters. He cut his teeth in the sport through the Sail Africa Foundation, later going on to represent SA in the Lipton Cup, the Vasco da Gama Ocean Race, and the gruelling Clipper Round the World Yacht Race. Speaking at the launch, Mswazi said sailing has given him more opportunities than he ever thought possible. 'I am hoping that through the MH Performance Sailing, I will be able to give back and open some doors for a few others that share my love for this amazing sport,' he said. His newly formed team did not disappoint. Element, skippered by Mswazi, clinched the L26 national championship, edging out rivals by the narrowest of margins in a nail-biting final race. Going into the last day, Element was neck-and-neck with Rainhard Lenz's Grayhard, with everything to sail for in the challenging, light-wind conditions. With the MSC Week concluded, he returns to his post as first mate on a superyacht in the Mediterranean, while his sailing project will continue under the stewardship of Nicolene Henkeman. 'I'm going back to earn more so I can invest it in the boats and the team back home. This win is just the beginning for MH Performance Sailing,' he said. For more South Coast Sun news, follow us on Facebook, Twitter and Instagram. You can also check out our videos on our YouTube channel or follow us on TikTok. Subscribe to our free weekly newsletter and get news delivered straight to your inbox. Do you have more information pertaining to this story? Feel free to let us know by commenting on our Facebook page or you can contact our newsroom on 031 903 2341 and speak to a journalist. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Business Upturn
08-07-2025
- Automotive
- Business Upturn
Big Ass Fans Launches Velocity™: The Ultimate Solution for Trailer Cooling
Lexington, Kentucky, July 08, 2025 (GLOBE NEWSWIRE) — Big Ass Fans is redefining industrial cooling once again with the launch of its groundbreaking trailer fan, Velocity™, debuting July 8. Engineered to tackle the intense heat challenges in manufacturing and distribution environments, Velocity™ can flush sweltering 120-degree air from a trailer in under two minutes. Even more impressive, it delivers a sustained cooling breeze—reaching 30% farther into a 53-foot trailer than any competing fan on the market. As the summer heat intensifies, the need for effective cooling solutions becomes critical. With approximately 33,000 heat-related health issues reported annually, businesses can benefit significantly from Velocity's™ innovative performance. By maintaining optimal airflow, companies can avoid scheduling disruptions, allowing employees to work uninterrupted shifts. This results in faster load times, reduced truck idle time, and increased safety for workers. 'Trailer heat is one of the most overlooked sources of front-line worker heat stress, and until now, there hasn't been a truly effective solution that covers deep into the trailer,' said Leah Larson, Chief Executive Officer at Big Ass Fans. 'Our customers made it clear this was a critical need—and we listened. Velocity™ is a game-changing innovation that delivers powerful, reliable cooling exactly where it's needed most.' True to form, Big Ass Fans has engineered an industrial-strength solution built to last and outperform. With Velocity™, Big Ass Fans has tackled the toughest challenge in trailer cooling: delivering high-powered airflow exactly where it's needed to flush out trapped heat and help keep workers cool. Leveraging industry-standard AMCA (Air Movement and Control Association International, Inc.) testing, Velocity™ leads the market in air movement performance—cutting through stagnant, 120-degree trailer air. But power alone isn't enough. Velocity's™ smart design ensures optimal fan placement and safety, eliminating common issues like sagging and wall separation to protect employees, or drift that can reduce cooling effectiveness by up to 50%. Added safety precautions include an LED light to illuminate the interior of the trailer, complemented by a redundant safety cable for added stability and security. Velocity™ is a long-term investment for businesses looking to enhance employee comfort and productivity. A nationally recognized auto parts customer who pre-purchased this innovative fan said, 'For helping us stay cool in the trailers, this is the best solution I have ever felt!' As the demand for effective cooling solutions grows, Big Ass Fans remains committed to pushing the boundaries of air movement technology, ensuring that every new product delivers measurable results and addresses the specific comfort needs of its customers. To learn more and to preview the product, please visit Velocity Quote . ## Big Ass Fans Bringing industry-leading airflow and energy savings to customers worldwide, Big Ass Fans exists to provide the best, most durable fans to fit any customer's needs. Big Ass Fans is guided by the high-volume, low-speed (HVLS) airflow concept to make spaces more comfortable and efficient. From factories to homes and everywhere in between, Big Ass fans deliver comfort, style and energy savings that make life and work more enjoyable. To learn more about Big Ass Fans visit . About Madison Air Madison Air, one of the world's leading privately held companies, combines the innovation and nimble, responsive service of a startup with the sophistication and scale of a global enterprise. Madison Air's best-in-class portfolio of innovative brands make the world safer, healthier and more productive through the power of better air. Our purpose is rooted in the belief that whether it's protecting valuable data or equipment, optimizing crop quality and yield, or improving the productivity, health and retention of your workers, there's a direct correlation between air and outcomes. Please visit us at . Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
