Latest news with #boardmembers
Bloomberg
14 hours ago
- Business
- Bloomberg
Aviation-Themed Charter School Closes Two Years After Bond Sale
Colorado Skies Academy, an aviation-themed charter school located outside of Denver, has abruptly closed two years after selling unrated municipal bonds. The school, which trained middle schoolers in aviation aerospace science, struggled to boost enrollment. After selling $12 million of bonds in 2023 to refinance outstanding debt, board members voted on July 25 to close the school.
Argaam
17 hours ago
- Business
- Argaam
Thimar to vote on board liability case on Sept. 2
Thimar Development Holding Co. said shareholders will meet on Sept. 2 to vote on authorizing the board of directors to file a liability lawsuit against former board members for the period from March 6, 2017, to July 3, 2021. In a statement to Tadawul, the company said the move relates to violations committed by the former board during that period or earlier, and that all necessary legal measures will be taken. This includes pursuing the ongoing lawsuit and filing any subsequent claims over violations committed during their membership or employment with the company. Thimar added that the violations may relate to the Companies Law, the Capital Market Law and its implementing regulations, or any other applicable laws, in a manner that safeguards the rights of the company and its shareholders. On March 14, Thimar filed a complaint with the Capital Market Authority against the former board from its two previous terms, seeking SAR 230 million in compensation plus amounts arising from litigation, according to Argaam data.
The Guardian
2 days ago
- Business
- The Guardian
Experts convinced RBA will cut interest rates despite bank shrugging off similar peer pressure in July
Australians are spending more but buying less than in 2022, underlining the intense cost-of-living pressures on households ahead of Tuesday's Reserve Bank of Australia interest rate decision. Economists and financial markets are once again convinced that the RBA board will drop the official cash rate from 3.85% to 3.6%, after the central bank stared down a similarly strong consensus and held rates at its previous meeting six weeks ago. Not all members of the rate-setting board were convinced of that decision at the time. Three of the nine voted in favour of a cut. The majority, however, did not see the need to rush rate cuts and wanted to see confirmation that inflation was tracking as expected through the three months to June. That confirmation duly came, with the latest quarterly consumer price report showing inflation sinking to as low as 2.1% – at the bottom of the bank's 2% to 3% target range – while the RBA officials' preferred underlying measure of price growth also fell, to 2.7%. Sign up: AU Breaking News email Andrew Hauser, the deputy governor, has since described the inflation figures as 'very welcome'. Given these developments, the chief economist of Deutsche Bank, Phil O'Donaghoe, said he expected the monetary policy board's decision on Tuesday would be a unanimous vote in favour of a cut. If the RBA does cut rates for the third time this year, then homeowners with a variable mortgage should not be paying interest of more than 5.5%, said Sally Tindall, the data insights director at Canstar, an online comparison site. 'In fact, if the majority of banks pass the cut on in full, which they should absolutely do, then there should be over 30 lenders offering at least one variable rate under 5.25%, while CBA and Westpac's lowest rates could hit 5.34%,' Tindall said. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Total household consumption is 22% higher than three years earlier, based on Australian Bureau of Statistics figures. But prices have climbed by roughly the same amount over that period, even as the population has swelled, and both have added to the total dollars being spent in the economy. After adjusting for inflation and putting it in per person terms, Australians on average are actually buying 5% less now than they were in early 2022, according to Challenger's chief economist, Jonathan Kearns. 'No wonder the government is thinking about how to boost economic growth with its productivity summit in a couple of weeks,' Kearns said. There are worries that the scars of the pandemic have left many households more keen to save than spend, although data for the month of June showed shoppers were happy to take advantage of end-of-financial-year bargains.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Intel's CEO, Under Attack From Trump, Is Already at Odds With His Board
Intel INTC -3.14%decrease; red down pointing triangle Chief Executive Lip-Bu Tan was already at odds with some board members before President Trump jumped into the fray. Tan and some Intel directors have disagreed in his first months in the role about questions as central as whether the company should stay in the manufacturing business or exit it entirely, according to people familiar with the matter. Recent efforts by Tan to raise new capital and acquire an artificial-intelligence company have been stalled by people on the board, they said.
Zawya
6 days ago
- Business
- Zawya
Egypt Duty Free Shops records 14.5%YoY higher profits in FY2024/25
The net profits after tax of Egypt Duty Free Shops increased by 14.57% year on year to EGP 400.379 million in fiscal year (FY) 2024/2025, compared to EGP 349.462 million, the financial results showed. Sales hiked by 14.32% YoY to EGP 1.345 billion at the end of June 2025 from EGP 1.177 billion. Basic earnings per share (EPS) surged by 16.20% to EGP 3.335 from EGP 2.870. The board members approved the estimated budget for FY 2025/2026, targeting net profits after tax amounting to EGP 234.017 million. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
