Tag: Support

FTS International Announces Amended RSA, Launch of Comprehensive Prepackaged Restructuring Plan with the Support of 87.55% of Secured Debt Claims

The MarketWatch News Department was not involved in the creation of this content.

FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has entered into a second amended and restated restructuring support agreement (the “RSA”) with creditors holding approximately 87.55% of the principal amount outstanding of the company’s secured debt (collectively, the “Consenting Creditors”) and intends to file voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas on September 22, 2020 (the “Court”).

To implement the restructuring set forth in the RSA, the Company commenced solicitation of votes on the Company’s prepackaged chapter 11 plan of reorganization (the “Plan”) from the holders of the Company’s 6.250% senior secured notes due 2022 (the “Secured Notes”) and the Company’s term loan facility (the “Term Loan”). The Company intends to commence solicitation of votes from the

Read More

ADEA Statement in Support of Diversity, Equity and Inclusion Workplace Training – Press Release

WASHINGTON, D.C.–(Business Wire)–The American Dental Education Association (ADEA) is dedicated to fostering a welcoming, diverse, inclusive and humanistic environment in every area of dental education—classrooms, clinics, laboratories, meeting/collaboration spaces, research, administrative offices and in our communities. On Sept. 22, 2020, Executive Order on Combating Race and Sex Stereotyping (EO) was issued. The EO prohibits federal agencies, contractors and grantees from providing employee training that asserts that “one race or sex is inherently superior to another race or sex” or the concept that “members of one race or sex cannot or should not attempt to treat others without respect to race or sex.” While we agree with these two principles, the EO also prohibits workplace training programs by the federal government and federal grantees that are grounded in the research on unconscious bias, sexual harassment and anti-racism.

In recent months, Black Lives Matter, the Anti-Racism Movement and the COVID-19 pandemic have

Read More

Muskegon business leaders voice support for city manager amid gift card controversy

MUSKEGON, MI – Nearly 50 business leaders in Muskegon have called upon the city commission to end “unproductive nitpicking and bickering,” some of which they say has been directed at staff who have been embroiled in a coronavirus gift card controversy.

The statement, read at the end of the city commission’s meeting earlier this week, praises Muskegon City Manager Frank Peterson and his staff for moving the city forward “in ways that we have not seen in this community for the previous two or more decades.”

The statement, which was signed and read by Jeff Musselman, was co-signed by 48 other private sector leaders. Musselman described the group as a “large coalition…growing concerned about what we see as unnecessary and unproductive nitpicking and bickering among the city commission.”

That behavior, aimed at one another and at staff, could “hinder” the city’s progress “if it is not recognized for what it

Read More

Transamerica Announces New Small Business Initiative to Support Retirement Plan Participants, Sponsors and Third Party Administrators

BALTIMORE, Sept. 25, 2020 /PRNewswire/ — Transamerica today announces a new retirement plan initiative for small business employees, employers, and third party administrators, to help them better navigate the challenges that today’s economy poses for retirement savers.

Small businesses have been tested by the economic effects of the pandemic. According to a recent survey by the NFIB Research Center, more than half of small businesses believe it will be sometime in 2021 before the U.S. small business climate returns to normal.

“We understand that many small businesses have been especially hard hit by the pandemic and resulting economic conditions,” said Kent Callahan, Chief Executive Officer for Transamerica’s Workplace Solutions division. “Transamerica has the tools to help small businesses and their employees manage their retirement goals, and we are taking action today to help these employers and their employees better navigate investing in uncertain times.”

“We have been hearing

Read More

Mastercard to support CBSL’s ‘Cash Wade’ campaign

*To expand digital transactions

*Launches rewards offer for online utility payments

Mastercard has pledged its support for the Central Bank of Sri Lanka’s (CBSL) ‘Cash Wade’ campaign which aims to increase the adoption of digital transactions in Sri Lanka.

The global technology company is set to embark on several initiatives aimed at encouraging consumers and businesses around Sri Lanka to enjoy the convenience and security offered by its digital payments solutions.

As part of this endeavor, Mastercard has launched a cashback rewards promotion on utility bill payments. Cardholders can avail a cashback of Rs.250 on payments of Rs.1,000 and above to utility service providers such as Ceylon Electricity Board (CEB) and Sri Lanka Telecom as well as other select partners. The offer is applicable to all payments made on the partner merchant’s website or mobile app using any Mastercard debit or credit card issued in Sri Lanka.

D. Kumaratunge, Director

Read More

Britain Introduces a Scaled-Back Wage Support Plan

Mr. Sunak, 40, is in only the seventh month of the job, taking over Britain’s finances just weeks before the government shut down much of the economy to stop the pandemic. First elected to Parliament five years ago, he was more popular than Mr. Johnson throughout the summer, gathering public support from the furlough program and other measures to help the economy. But now, Mr. Sunak is beginning to scale back some of these fiscal measures.

“I cannot save every business,” he said. “I cannot save every job.”

Of course, the challenge is determining which jobs should be protected. Mr. Sunak said making companies pay for some of the reduced hours would be a signal of which jobs were viable.

But new restrictions imposed this week to close bars, pubs and restaurants at 10 p.m., delay plans to reopen events with large crowds of spectators, and encourage office workers to

Read More

Sunak unveils new job support scheme; warns he cannot save every business

FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak visits Peak Scientific, a Scottish manufacturer of gas generators for analytical laboratories in Glasgow, Scotland, Britain, August 7, 2020. Andy Buchanan/Pool via REUTERS/File Photo

LONDON (Reuters) – British finance minister Rishi Sunak announced a new jobs support scheme on Thursday that would help firms employ people on shorter hours, but warned he could not save every business or job.

“The government will directly support the wages of people in work, giving businesses who face depressed demand the option of keeping employees in a job on shorter hours, rather than making them redundant,” Sunak told parliament.

Sunak said the scheme would run for six months, starting in November and be open to all small and medium sized enterprises. Larger firms would only be eligible if their turnover has fallen during the crisis.

“It will support viable jobs to make sure that employees

Read More

PPP round 2 could do a lot to support small business, Fed chair Powell says

Federal Reserve Chair Jerome Powell said another iteration of the Paycheck Protection Program is likely the best way to continue supporting small businesses suffering as a result of the coronavirus pandemic.

When asked during a hearing before a House subcommittee on Wednesday whether the Main Street Lending Program could be modified to help smaller businesses, Powell said the Paycheck Protection Program would be a better way of reaching these companies.

The Fed would encounter difficulties trying to underwrite the credit for a large number of very small businesses, according to the Fed chair.

Powell told lawmakers that it is not practical for the Fed to create a facility for small businesses and that PPP could continue to do “a lot of good,” since it may take longer than officials initially

Read More

Together, Idaho and President Trump are taking action to support small business | Local

It’s National Small Business Week, a fitting time to reflect on the ways President Donald Trump and the State of Idaho are supporting small business – the backbone of our economy.

We’ve been working with President Trump and his administration to put people over paperwork by reducing the volume and cost of regulation.

President Trump created the Governors’ Initiative on Regulatory Innovation to extend his historic regulatory reform to every level of government. The initiative aims to cut regulations and costs, advance occupational licensing reform, and better align state and federal regulations to support small businesses above all.

President Trump targeted the behemoth National Environmental Policy Act, or NEPA, for change. Idaho’s congressional delegation and I wholeheartedly backed his effort and will do everything we can to support the transformation, which enables much-needed transportation and land management projects to move forward more quickly while maintaining

Read More

Mastercard announces support for CBSL’s ‘Cash Wade’ campaign to expand digital transactions

Launches rewards offer for online utility payments

COLOMBO – September 23, 2020 – Mastercard today announced its support for the Central Bank of Sri Lanka’s (CBSL) ‘Cash Wade’ campaign which aims to increase the adoption of digital transactions in Sri Lanka.

The global technology company is set to embark on several initiatives aimed at encouraging consumers and businesses around Sri Lanka to enjoy the convenience and security offered by its digital payments solutions.

As part of this endeavor, Mastercard has launched a cashback rewards promotion on utility bill payments. Cardholders can avail a cashback of Rs.250 on payments of Rs.1,000 and above to utility service providers such as Ceylon Electricity Board (CEB) and Sri Lanka Telecom as well as other select partners. The offer is applicable to all payments made on the partner merchant’s website or mobile app using any Mastercard debit or credit card issued in Sri Lanka.

Commenting

Read More