On Deck Capital Inc (NYSE:ONDK)’s shares gained 0.81% to $13.66.
On Deck Capital Inc (ONDK) declared that a $2.7 million grant from the Sam’s Club Giving Program will assist launch their TILT Forward Initiative, which improves access to capital for millions of small business owners and entrepreneurs on Main Streets and in neighborhoods throughout the country.
AEO President and CEO Connie Evans said the TILT Forward Initiative addresses a “market failure” in business lending, noting that 8,000 business loan requests are declined each work day by financial institutions, according to the Treasury Department. Those declines cause an estimated capital shortfall of $44 to $52 billion annually, which is slowing job growth and negatively impacting the nation’s economy.
The TILT Forward Initiative brings best-in-class product, marketing and capital solutions to a network of community and non-profit lenders. The initiative allows small businesses, counting 11 million Main Street businesses located in underserved communities, to have better and quicker access to some of the lowest rates accessible.
On Deck Capital, Inc. provides financing products to small businesses in the United States. It offers fixed term loans and revolving line of credit. The company processes and services its loans through its online platform. On Deck Capital, Inc. was incorporated in 2006 and is headquartered in New York, New York.
At the end of Friday’s trade, Tenaris SA (ADR) (NYSE:TS)‘s shares dipped -0.24% to $28.85.
Tenaris SA (ADR) (TS) has revised its value in use calculation for its investment in Usinas Siderúrgicas de Minas Gerais S.A. - Usiminas (“Usiminas”) and will restate its financial statements to reduce the carrying amount of the Usiminas investment to USD122 million as of September 30, 2014. As a result of this restatement, the financial statements at December 31, 2014 and March 15, 2015 will also be restated to reflect the lower carrying value of the Usiminas investment. Tenaris’s cash flows are not affected.
These actions follow the conclusion of formerly revealed talk about with the Staff of the U.S. Securities and Exchange Commission regarding Staff comments regardingthe carrying value of the Company’s investment in Usiminas under IFRS as of September 30, 2014 and subsequent periods. The Staff had requested information regarding Tenaris’s value in use calculations and the differences between the value in use carrying amounts and certain fair value indicators, counting in particular the purchase price of BRL12 (about USD4.8) per share which the Company’s associate Ternium S.A. paid in October 2014 for the acquisition of 51.4 million additional Usiminas ordinary shares from Caixa de Previdência dos Funcionários do Banco do Brazil - PREVI (“PREVI”). In connection with these talk about, the Company revised the assumptions used to calculate the carrying value of the Usiminas investment at September 30, 2014 in light of the Staff’s comment that the PREVI transaction price offered objective evidence of the value of the Usiminas investment. The restated carrying value as of September 30, 2014 has been revised to reflect a per share value equal to the PREVI transaction price.
Tenaris S.A., through its auxiliaries, manufactures and supplies steel pipe products and related services for the energy and other industrial applications. It offers products for oil and gas drilling operations that comprise casings and tubings, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn tubes, tubular and non-tubular accessories, and devices, in addition to technical consulting, pipe administration, and field services.
Omnicom Group Inc. (NYSE:OMC), ended its Friday’s trading session with -0.85% loss, and closed at $72.50.
Omnicom Group Inc. (OMC)
While the media comments on AutoNation’s 10 millionth car sale and $20 million ad campaign with Zimmerman Advertising in recognition of the benchmark, it’s time to put the microscope to over 15 years of partnership between the nation’s largest auto retailer and Omnicom Group Inc. (OMC)’s retail growth machine. Mutual ambition and commitment to results has meant not only an enduring professional relationship, but the generation of compriseent success through a period of transition for the advertising industry and a protracted economic downturn.
Since AutoNation partnered with Zimmerman 15+ years ago, the days of simple TV, radio and print ads have fully evolved into much more. While AutoNation continued to buy up local and regional dealerships around the country, Zimmerman paid close attention to retail trends and expanded to integrate their agency for the changing landscape.
The launch of the largest ad campaign in AutoNation history follows noteworthy milestones for both client and agency. While AutoNation made a bold move towards becoming a national retail chain in 2013 by replacing all localized brand names throughout the country with the company’s corporate moniker, Zimmerman invested and accomplished construction on a new headquarters for their fast-growing team and client roster; moving into the only state-of-the-art advertising hub of its kind in the nation.
Omnicom Group Inc., together with its subsidiaries, operates as an advertising, marketing, and corporate communications services company in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It offers services in advertising, customer relationship management, public relations, and specialty communications areas.
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