Ameriprise Financial Reports First Quarter 2016 Results

MINNEAPOLIS – April 27, 2016 – Ameriprise Financial, Inc. (NYSE: AMP) today reported first quarter 2016 net income(1) of $364 million, or $2.09 per diluted share. Operating earnings were $378 million, with operating earnings per diluted share of $2.17. Operating results include previously announced unfavorable items of $0.09 per share.  In addition, the company raised its regular quarterly dividend 12 percent to $0.75 per share.

Operating net revenues of $2.8 billion were down 4 percent, reflecting the dislocation in equity markets during the quarter, which caused a lower level of average assets under management, resulting in lower fee revenue. The dislocation in equity markets also impacted revenues on a sequential basis.
Operating expenses of $2.3 billion were down 2 percent from a year ago as a result of lower distribution expenses and well controlled general and administrative expenses. General and administrative expenses decreased 2 percent, primarily associated with ongoing reengineering and disciplined expense control in response to the challenging market environment during the quarter. Overall, the company will continue to manage expenses tightly in response to the market environment while maintaining targeted growth investments.
In the quarter, the company continued to deliver a strong return to shareholders through share repurchases and dividends of $568 million, returning 150 percent of its operating earnings. 


Selecting Effortless Tactics Of Small Business Loans

Knowing Your Competition Is Financed Is Also Helpful As Certain Industries Qualify Much Better For Certain Types Of Financing.

Where.our help comes in is in the intelligent planning and building of trade credit right from the start. Case studies differ from fund raising letters, flyers and brochures. Among those who are pegged to receive assistance through funding and the addition of jobs include scientific research groups, schools, energy programs, Medicaid, and contractors. In this financial analysis format the left column contains the funding entries Debt and Equity, and the right column the operational entries Working capital and Non-current assets . Suppliers also want to be paid with C.O.D. and your customers are on Net-30 terms; so you ladder into a cash flow problem.

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The Price of Oil and Equity Markets: How Interconnected are They?

The weekend meeting of major world oil producers in Doha intended to craft a freeze in oil production has ended without an agreement. Iran’s refusal to attend, and Saudi Arabia’s insistence that all OPEC members agree to the freeze resulted in a stalemate. As a result, the price of oil is once again in retreat. The biggest immediate losers are the producing countries whose fiscal budgets have been bludgeoned by the plunge in crude prices. And all but the lowest cost shale producers in the U.S. will remain under pressure to curtail production further.  


Chase Quietly Launches Its Online Small-Business Loan Platform

Small Business Lending

Following months of behind-the-scenes work with OnDeck Capital, JPMorgan Chase has quietly started offering online loans to its existing small-business customers.

The New York megabank launched its digital lending platform on a limited basis last week, spokeswoman MaryJane Rogers confirmed Monday.

Existing Chase small-business customers are being prescreened, and some of them are being invited to apply for loans of up to $250,000, according to Brian Geary, director of platform solutions at OnDeck.

JPMorgan has roughly 4 million small-business customers. The bank declined to say how many of those clients have received invitations to apply for a loan, or when its online lending platform will be opened to a broader group of prospective applicants.

Under the partnership, New York-based OnDeck, which also offers small-business loans through its own website, is providing its technology to JPMorgan. The loans are Chase-branded, and are being held on the bank’s balance sheet. JPMorgan is also setting the underwriting criteria for the loans.


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PayPal Pays Out $1 Billion in Small Business Loans

Financing small business ventures have always been a challenge for small business owners. Those challenged particularly are African American entrepreneurs, who are continuously challenged by inconsistent incomes and less than perfect credit.

According to an analysis by the Wall Street Journal, the total volume of loans black-owned small businesses received before the recession is 8.2 percent of all loan money from the Small Business Administration (SBA). That figure declined since that time to 1.7 percent. Other groups have fared much better. For instance, Hispanic businesses are getting 4.7 percent of total loan volume. According to the same source, about 7 percent of American business owners are black compared to 10 percent for Hispanics. What these entrepreneurs have had to do is find alternative sources of working capital. One such company is PayPal Working Capital (PPWC).

PayPal CEO Dan Schulman announced that PPWC has provided more than $1 Billion in funding in the US, UK, and Australia. They have assisted more than 60,000 small businesses owners. Schulman also said, “since late 2013 we’ve been providing access to working capital to small businesses through PayPal Working Capital. PayPal is now lending $100 million per month to businesses.”

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Refugees Score New Business Loans American Taxpayers Simply Can’t Get

business lending

As fewer and fewer Americans are able to achieve the dream of owning their home or starting their own business, their tax dollars are going to newly-arrived refugees, many of them unvetted for ties to terrorism, who may be coming America for the economic benefits, rather than to escape the chaos in the Middle East.

The International Rescue Committee (IRC), which provides refugees with start-up loans for new businesses, has announced that it will be expanding its microloan program now that it has been accredited by the United States Department of the Treasury.

The IRC is one of nine nonprofit organizations that participate in federal programs to assist with what the federal government terms “refugee resettlement”