Market Newsdesk

TORONTO, Nov. 20, 2020 /CNW/ – Scotia Global Asset Management today announced the launch of a suite of Scotia Low Carbon Funds, diversified portfolios of high-quality investments designed to provide a lower carbon intensity than the broader market: 

• Scotia Low Carbon Canadian Fixed Income Fund
• Scotia Low Carbon Global Balanced Fund
• Scotia Low Carbon Global Equity Fund

“At Scotia Global Asset Management, we recognize that environmental, social and governance considerations are a key component of delivering long-term value to investors, which is why we embed them throughout our investment process. Now we have dedicated strategies for clients who are looking for investment solutions with a lower carbon footprint,” says Neal Kerr, Head, Scotia Global Asset Management (Canada).

Scotia Low Carbon Canadian Fixed Income Fund is designed to generate regular income and modest capital gains, with lower carbon intensity than its benchmark index. Scotia Low Carbon Global Balanced Fund is designed to generate income and long-term capital growth, with lower carbon intensity than its benchmark indices. Scotia Low Carbon Global Equity Fund is designed to provide long-term capital growth, with lower carbon intensity than its benchmark index.

The Funds are sub-advised by Jarislowsky, Fraser Limited, an investment manager acquired by Scotiabank in 2018 that has a successful track record managing similar mandates. Jarislowsky Fraser has a history and culture rooted in investment stewardship, expressed through an adherence to higher-quality investing, fundamental research, a long-term investment horizon and the advancement of good governance and sustainable investing.

For more information about these investment options, please visit http://www.scotiafunds.com/lowcarbon.

ScotiaFunds name changes
Scotia Global Asset Management also announced name changes to a number of ScotiaFunds, which were effective November 6, 2020. The name changes, which apply across all existing Fund series, are:

There is no change to the investment objectives or strategies of any of these Funds.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the funds. Please read the prospectus before investing. Investments in the funds are not guaranteed; their values change frequently and past performance may not be repeated.

About Scotia Global Asset Management
Scotia Global Asset Management is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.

Jarislowsky, Fraser Limited is a wholly owned subsidiary of The Bank of Nova Scotia.

SOURCE Scotiabank

CHENGDU, China, Nov. 20, 2020 /PRNewswire/ — Senmiao Technology Limited (“Senmiao”) (Nasdaq: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China as well as its own online ride-hailing platform, today announced financial results for the fiscal 2021 second quarter ended September 30, 2020.

Xi Wen, Chairman, Chief Executive Officer and President of Senmiao, “We were pleased that the proactive measures taken by our team in the early stages of the COVID-19 pandemic began to gain traction as we progressed through the third quarter. While the negative year-over-year impact on our operations is apparent, we saw considerable improvement in demand for our services during the second quarter and into the current fiscal third quarter. We transitioned many of the vehicles tendered to us by ride-hailing drivers who exited the business in the first quarter into rental vehicles during the past few months, which became a source of revenue as sales options diminished in the first half of the year.  We are now starting to see the market recover, and believe we can offer excellent optionality to drivers through sales, leasing, and rental selections.”

Mr. Wen continued, “Our goal has been to become a total solution provider for ride-sharing drivers, beginning in our two core markets, Chengdu and Changsha. In recent weeks, we have strengthened this value proposition through cooperation with BYD to offer electric vehicles with financing and leasing options to drivers in our core markets; and a collaboration with Luxingtong for the provision of a wide array of telematics and safety solutions for our drivers. In addition, we recently launched our own ride-hailing platform in Chengdu and have seen the number of riders utilizing the service accelerating daily as we build greater brand recognition.”

Mr. Wen concluded, “The impact of COVID-19 on our business model was stark and rapid. We were forced into situations where we needed to ensure the strength of our balance sheet and be adaptable to a new and changing paradigm in the Chinese ride-sharing market. While undertaking these changes was difficult in the short-term, we are now starting to see the benefits of the hard decisions we made. Our focus in the near term will be to improve our online ride-hailing platform with further enhancements for both drivers and riders, while seeking partnerships that can strengthen our value proposition for new drivers. Ultimately, we believe that our efforts will continue to position Senmiao well in Chengdu and Changsha, and position us for potential growth in new markets next year.”

Revenues

Total revenues were $1,390,396 for the quarter ended September 30, 2020, compared to $5,885,287 in the same period last year and $1,146,916 for the quarter ended June 30, 2020. The decline from the prior year was largely due to the impact of COVID-19 which resulted in a significant decrease in the number of facilitated new automobile purchases and a significant number of ride-hailing drivers exiting the ride-hailing business and tendering their vehicles to Senmiao for sublease and sale.

As the ride-hailing markets in Chengdu and Changsha gradually recovered from the impact of COVID-19 beginning in April 2020, Senmiao also experienced a decrease in the number of automobiles tendered to it by the ride-hailing drivers exiting the business during the quarter ended September 30, 2020 as compared with prior quarters.

Senmiao also reported an increase in the monthly installments collected from automobile sale and leasing customers in the three months ended September 30, 2020, as compared with the three months ended June 30, 2020. Earlier in 2020, a higher number of ride-hailing drivers delayed their monthly installment payments as a result of the COVID-19 pandemic. However, the Company has seen a gradual improvement in collections throughout the year.

Senmiao strategically shifted its business focus to include automobile rental options for ride-hailing drivers as a measure of creating additional revenue. The automobile rental business generated an income of $787,955 for the quarter ended September 30, 2020.

As a result of the gradual recovery of the ride-hailing industry, coupled with Senmiao’s recent partnerships and proactive measures to address the changing market conditions, Senmiao expects revenue to increase in the third and fourth quarters of its fiscal year 2021.

Cost of Revenues

Cost of revenues were $994,515 for the quarter ended September 30, 2020, as compared with $4,709,184 during the same period last year. The decline was primarily due to the decrease in the number of automobiles sold.

Gross Profit

Gross profit was $395,881, or approximately 28.5% gross margin, for the quarter ended September 30, 2020, compared to $1,176,103, or approximately 20.0% gross margin, in the prior year period. 

Selling, General and Administrative Expenses

Selling, general and administrative expenses were $2,749,209 for the quarter ended September 30, 2020 as compared with $1,137,801 during the same period last year. The increase mainly consists of an increase of $560,274 in amortization of automobiles which were tendered to Senmiao but have not been sub-leased or sold, an increase of $336,158 in salary and employee benefits as Senmiao’s employees increased from 158 to 203, an increase of $599,170 in professional service fees such as financial, legal and market consulting, and an increase of $115,806 in advertising and promotion,  rental and other office expenses.

Net Loss

Net loss from Senmiao’s continuing operations for the quarter ended September 30, 2020 was $2,607,165, compared to net income of $1,862,365 for the quarter ended September 30, 2019, , which mainly resulted from the decrease in revenue, decrease in gross profit and increase in selling, general and administrative expenses as stated in prior section as well as gain in the change of the fair values of derivative liabilities recorded for the three months ended September 30, 2020.

Loss per Share

Loss per share for continuing operations was $0.06 based on a weighted average number of basic and diluted common stock of 37,802,840, as compared to earnings per share of $0.06 based on a weighted average number of basic and diluted common stock of 28,237,430.

Financial Position

As of September 30, 2020, Senmiao had cash and cash equivalents of $4,394,019 as compared with $833,888 as of March 31, 2020 for its continuing operations. Total stockholders’ equity was $2,782,424 as of September 30, 2020, compared to $1,472,357 as of March 31, 2020.

Impact of COVID-19

The COVID-19 outbreak continued to materially adversely affect Senmiao’s business operations, financial condition and operating results in the quarter ended September 30, 2020, including but not limited to, decrease in revenues, slower collection of accounts receivable and additional allowance for doubtful accounts. However, as the ride-hailing markets in Chengdu and Changsha are gradually recovering from the impact of COVID-19, Senmiao expects its business to improve during the remainder of its current fiscal year ending March 31, 2021.

Further information regarding Senmiao’s results of operations for the quarter ended September 30, 2020 can be found in Senmiao’s Quarterly Report on Form 10-Q which will be filed with the Securities and Exchange Commission.

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services aimed principally at the growing ride-sharing market in Senmiao’s areas of operation in China.  Senmiao also operates Xixingtianxia, its own proprietary online ride-hailing platform.  For more information about Senmiao, please visit: http://www.senmiaotech.com.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including statements concerning the development of Senmiao’s automobile transaction, financing, rental and related services and online ride-hailing platform, the Chinese ride-sharing and automobile financial leasing markets, Senmiao’s plans, objectives, goals, strategies, and performance, and the impact of COVID-19 on Senmiao’s business), as well as the assumptions such statements and other statements that are not statements of historical facts are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:

 

© 2020 Senmiao Technology Ltd.  All rights reserved.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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SOURCE Senmiao Technology Limited

PHILADELPHIA, Nov. 20, 2020 /PRNewswire/ — Kaskela Law LLC announces that it is investigating Apollo Global Management, Inc. (“Apollo“) (NYSE: APO) on behalf of the company’s stockholders.

The investigation seeks to determine whether Apollo and/or the company’s officers and directors have violated the securities laws in connection with recent corporate actions, causing injury to Apollo and its investors.

Apollo shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by email at [email protected] or online at http://kaskelalaw.com/case/apollo-global-management-inc/, for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. 

CONTACT:

D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
[email protected]

This notice may constitute attorney advertising in certain jurisdictions.

 

View original content:http://www.prnewswire.com/news-releases/kaskela-law-llc-announces-investigation-of-apollo-global-management-inc-apo-and-encourages-apo-stockholders-to-contact-the-firm-301178042.html

SOURCE Kaskela Law LLC

NEW YORK, Nov. 20, 2020 /PRNewswire/ — Neurotrope, Inc. (NASDAQ: NTRP) (“Neurotrope” or the “Company”) announced today that its Board of Directors has approved the conditional distribution and set the shareholder of record and distribution dates in connection with the previously announced spin-off (the “Spin-Off”) of its wholly-owned subsidiary, Neurotrope Bioscience, Inc. (“NBI”). Subject to the closing of Neurotrope’s proposed merger with Metuchen Pharmaceuticals, LLC (“Metuchen”), shareholders and certain warrant holders of record of Neurotrope on November 30, 2020 (the “Record Date”) will receive on December 7, 2020 (the “Distribution Date”), a dividend at the rate of (i) one share of NBI common stock for every five shares of Neurotrope common stock held, (ii) one share of NBI common stock for every five shares of Neurotrope common stock issuable upon conversion of Neurotrope preferred stock held and (iii) one share of NBI common stock for every five shares of Neurotrope common stock issuable upon exercise of certain Neurotrope warrants held that are entitled to participate in the spin-off pursuant to the terms thereof (collectively, the “Distribution”). Any fractional shares will be paid in cash. Neurotrope and Metuchen previously announced their intent to merge in an all-stock transaction resulting in the formation of a holding company to be named Petros Pharmaceuticals, Inc. (“Petros”), which expects to trade on the Nasdaq Capital Market under the symbol “PTPI” following the closing of the merger.  Neurotrope’s meeting of shareholders to approve the proposed merger and other matters is scheduled for November 25, 2020. 

In addition, in connection with the Spin-Off, the holders of Neurotrope’s amended and restated warrants to purchase shares of Neurotrope common stock (the “A&R Warrants”) will receive warrants to purchase shares of NBI common stock at the ratio of one share of NBI common stock for every five shares of Neurotrope common stock issuable upon exercise of such A&R Warrants held (collectively, the “Spin-Off Warrants”).

Neurotrope expects that NBI common stock will be quoted on the OTCQB market of the OTC Markets Group, Inc. under a symbol that is yet to be determined.

Holders of Neurotrope’s common stock, preferred stock and warrants as of the Record Date will not be required to take any action to participate in the Distribution. Stockholders who hold Neurotrope common stock and preferred stock on the Record Date will receive a book-entry account statement reflecting their ownership of NBI common stock or their brokerage account will be credited with the shares of NBI common stock. NBI has filed a registration statement on Form S-1 (File No. 333-249434) with the U.S. Securities and Exchange Commission (the “SEC”) for the issuance of the shares of NBI common stock and Spin-Off Warrants in the proposed Spin-Off transaction, which was declared effective by the SEC on November 9, 2020. Investors are encouraged to read the final prospectus and prospectus supplement relating to the Spin-Off because they contain more complete information about NBI and its separation from Neurotrope, as well as a detailed description of the conditions that must be satisfied in order to proceed with the proposed Spin-Off, including the closing of Neurotrope’s proposed merger pursuant to the Merger Agreement. The final prospectus and prospectus supplement are being mailed to Neurotrope stockholders and warrant holders.

The Distribution is taxable to shareholders and warrant holders that receive shares of NBI common stock. Neurotrope securityholders are urged to consult with their tax advisors with respect to the U.S. federal, state and local or foreign tax consequences, as applicable, of the   Spin-Off.  The Distribution is subject to the fulfillment or waiver of certain applicable conditions, including obtaining all approvals necessary to consummate the transactions contemplated by the Merger Agreement. No assurance can be given as to the receipt or timing of the approvals, including shareholder approval of the merger by Neurotrope’s shareholders.  If the applicable conditions of the Merger Agreement (and the related Separation and Distribution Agreement) are not satisfied and the merger is not consummated, the Distribution will not be made and the declaration of the Distribution will be null and void. 

About Neurotrope, Inc.

Neurotrope is a clinical-stage biopharmaceutical company working to develop novel therapies for neurodegenerative diseases. Neurotrope has conducted clinical and preclinical studies of its lead therapeutic candidate, Bryostatin-1, and other activators of PKC epsilon in AD, and preclinical studies for stroke, traumatic brain injury, and rare diseases, including Fragile X syndrome.  Pre-clinical studies of Bryostatin in other laboratories have included multiple sclerosis, autistic spectrum disorders, and Niemann-Pick Type C disease. The FDA has granted Orphan Drug Designation to Neurotrope for Bryostatin-1 as a treatment for Fragile X syndrome. Bryostatin-1 has already undergone testing in more than 1,500 people in cancer studies, thus creating a large safety data base that will further inform clinical trial designs.

Neurotrope has entered into a definitive merger agreement pursuant to which Metuchen Pharmaceuticals, L.L.C. and Neurotrope have agreed to merge in an all-stock transaction resulting in a newly formed holding company focused on men’s health conditions, which will be named Petros Pharmaceuticals, Inc. (“Petros”).  Upon closing of the transaction, Bryostatin-1 and substantially all of Neurotrope’s existing assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the merger agreement, will be spun-out into a new, separately traded company named Neurotrope Bioscience, Inc.

Additional information about Neurotrope may be found on its website: www.neurotrope.com.

Important Additional Information

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

In connection with the proposed merger pursuant to the Merger Agreement, Petros has filed with the SEC a registration statement on Form S-4 (File No. 333-240064) that includes a definitive proxy statement of Neurotrope that also constitutes a prospectus of Petros. This communication is not a substitute for the proxy statement/prospectus or any other document that Petros or Neurotrope may file with the SEC or send to their shareholders in connection with the proposed transaction. The registration statement on Form S-4 was declared effective by the SEC on October 29, 2020. Neurotrope mailed the definitive proxy statement/prospectus to its stockholders on or about November 4, 2020, and its stockholders will vote on the proposal to approve the merger and other matters at a meeting of stockholders scheduled for November 25, 2020. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE FORM S-4, INCLUDING THE DEFINITIVE PROXY STATEMENT/PROSPECTUS FILED AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You may obtain free copies of the definitive proxy statement/prospectus and other relevant documents filed by Petros and Neurotrope with the SEC at the SEC’s website at www.sec.gov. Stockholders may obtain, free of charge, copies of the definitive proxy statement/prospectus and any other documents filed by Petros with the SEC in connection with the proposed transactions at the SEC’s website (www.sec.gov), at Neurotrope’s website: www.neurotrope.com, or by directing written request to: Neurotrope, Inc., 1185 Avenue of the Americas, 3rd Floor, New York, New York 10036, Attention: Robert Weinstein.

Participants in the Solicitation

Petros, Neurotrope, Metuchen and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Neurotrope in connection with the proposed transaction. Information regarding the special interests of these directors and executive officers in the merger is included in the definitive proxy statement/prospectus referred to above. Additional information regarding the directors and executive officers of Neurotrope is also included in Neurotrope’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 13, 2020. This document is available free of charge at the SEC web site (www.sec.gov), at Neurotrope’s website, or by directing a written request to Neurotrope as described above.

Cautionary Note Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding Petros, Neurotrope, Metuchen, the combined company, NBI, the proposed merger and spin-off and other matters. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which Neurotrope has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties, including, without limitation: the risk that the conditions to the closing of the proposed transactions are not satisfied, including the failure to obtain stockholder approval for the proposed transactions in a timely manner or at all; uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Petros, Neurotrope and Metuchen to consummate the proposed transactions; risks related to Petros’ initial listing on The Nasdaq Capital Market at the closing of the proposed transactions; risks related to Neurotrope’s ability to correctly estimate its operating expenses and its expenses associated with the proposed transactions; the ability of Neurotrope or Metuchen to protect their respective intellectual property rights; competitive responses to the transaction; unexpected costs, charges or expenses resulting from the proposed transactions; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transactions; and legislative, regulatory, political and economic developments; expectations regarding the industry and business operations of Petros. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including Neurotrope’s filings with the Securities and Exchange Commission, including Neurotrope’s Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.  Neurotrope can give no assurance that the conditions to the proposed transactions will be satisfied. Except as required by applicable law, Neurotrope does not undertake to update these forward-looking statements.

Contacts

Corporate:

Robert Weinstein

Chief Financial Officer
973.242.0005 ext. 101 | [email protected] 

Investors and Media:

Lisa Sher

Argot Partners
212.600.1902 | [email protected] 

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SOURCE Neurotrope, Inc.

LOS ANGELES, Nov. 20, 2020 /PRNewswire/ — In the midst of a pandemic and a difficult year, holiday shoppers are focused on supporting their local small businesses. Seven in 10 consumers say it’s more important to support small businesses than to get the best deal, and four in 10 are willing to spend $20 more on a purchase to support them, according to new research from Union Bank, a leading West Coast bank. 

According to the Union Bank Small Business Holiday Spending 2020 Survey, 74% of U.S. consumers feel an increased sense of responsibility to support their community this year and over half say they’ve already increased how much they shop and spend at small businesses to help keep them afloat during COVID-19. Even more compelling, 54% say they’re specifically planning to shop at minority-owned small businesses.

“Holiday spending is often the most significant financial inflection point for small businesses each year. However, this year will look much different, as many people continue to adapt to stringent closure guidelines and recover from the overall economic impacts of the pandemic,” said Todd Hollander, Head of Business Banking and Small Business for Union Bank. “Small businesses are the backbone of our local communities and sales during the holiday season are often critical to a business’s success. These survey results reinforce that our communities feel a sense of responsibility and are rallying to help businesses continue to recover and thrive through the 2020 holiday season.”   

To gear up for the holiday season, small businesses have an opportunity to promote themselves, as 35% of U.S. consumers say that one of the biggest barriers to shopping at small businesses is a lack of awareness or little advertising. More specifically, when asked what drivers would make them more likely to spend at a small business this season, U.S. consumers cited the following as most important:

• 60% said offering holiday sales, discounts, promotions
• 51% said offering online ordering
• 46% said offering safety measures (mask requirements, social distancing, curbside pickup, local delivery, contactless payment, etc.)

“Now more than ever, small businesses need to tap into their entrepreneurial spirit and continue to be creative in implementing new strategies to keep consumers motivated to spend with them,” said Hollander. “Fortunately, it’s not too late to ramp up marketing efforts, including social media, to showcase not only any holiday specials but also any safety measures and conveniences that have been put in place. Consumers want to know they can support local businesses safely.”

The findings also indicate that this holiday shopping season will revolve less around big shopping events, with only one in five planning to do most of their shopping on Black Friday and/or Cyber Monday.

Despite U.S. consumers’ focus on supporting small businesses, the survey revealed some financial hurdles, as most consumers are planning to spend less this holiday season compared to last year – particularly on travel (62%) and restaurants (52%). The only exception is retail, where 49% of U.S. consumers plan on spending the same or more this year. The survey identified several specific financial factors affecting U.S. consumer holiday spending year-over-year, including one in four saying they’ve suffered a job loss or hour/wage reduction, and one in four saying they’re trying to save more. 

Californians are doubling down to aid small businesses this holiday season. 

California-based consumers are feeling especially generous this holiday season, with 51% saying they’d spend $20 more on an item to support a small or local business vs. saving $20 and purchasing from a large retailer, compared to 43% of national respondents.

Californians seem to understand the value and significance of supporting their local community, with 68% saying it’s more important to support small businesses than to get the best deal or discount this holiday season.

Additionally, California consumers are also taking seriously their responsibility to local minority-owned small businesses, as 56% say they specifically plan to shop at minority-owned small businesses this holiday season.

“From retail gifts and gift cards for a variety of services to restaurant take-out, we all have a key role to play during this economic recovery process,” Hollander said. “I’d like to call on all of our Union Bank clients and larger West Coast community to continue supporting local small businesses this holiday season – the long-term impact will be significant and uplift many in your local communities when they need us most.”

About the
Union Bank Small Business Holiday Spending 2020 survey
Research was gathered through an online survey commissioned by Union Bank and conducted by global independent research firm Edelman Intelligence. The survey was completed by 2,677 Americans (age 18+), sampled to be nationally representative. Data was collected between Nov. 9 and Nov. 11, 2020. The margin of error is +/- 2 percentage points.

About Union Bank
Union Bank is a full-service bank with a rich history of investing in our clients, communities and colleagues throughout the West Coast for more than 150 years. Union Bank provides a wide range of personal and business banking products as well as wealth management services. With nearly 340 branches in California, Oregon and Washington, Union Bank remains committed to serving the needs of its local communities. As a member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial institutions, Union Bank holds our clients’ best interests to heart and remains committed to investing in their success.

About MUFG Union Bank, N.A.
As of September 30, 2020, MUFG Union Bank, N.A. operated 348 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients. We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $132.5 billion, as of September 30, 2020, MUFG Union Bank has strong capital reserves, credit ratings, and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial institutions with total assets of approximately ¥348.4 trillion (JPY) or $3.3 trillion (USD)¹, as of September 30, 2020. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.

¹ Exchange rate of 1 USD=¥105.8 (JPY) as of September 30, 2020

©2020 MUFG Union Bank, N.A. All rights reserved. Member FDIC. Union Bank is a registered trademark and brand name of MUFG Union Bank, N.A.

Press contact:
Sierra Wilson
(213) 236-5329
[email protected]

Edelman PR
[email protected]

 

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SOURCE Union Bank

SAN JOSE, Calif., Nov. 20, 2020 /PRNewswire/ — eBay today unveils The Holiday Marketplace — a virtual celebration of small businesses that’s filled with a curated selection of unique and thoughtful gifts. Holiday markets account for a sizable portion of small business holiday sales; however, the majority have been canceled this year. In a season where many traditions have needed to evolve, eBay has created a new way for shoppers to browse and buy holiday gifts from small, independent merchants, who need the support now more than ever.

eBay’s first-ever virtual Holiday Marketplace on the @eBay Pinterest page, shines a light on nine small businesses with a wide range of items, from collectible sneakers to one-of-a-kind luxury accessories, vintage toys, hand-drawn cards, and more. In addition to finding shoppable collections, visitors can check out festive inspiration and advice from the sellers themselves – eBay’s gifting experts.

The superstar lineup of small businesses on The Holiday Marketplace include:

• 
  Breedlove Beauty Co.
  (Baton Rouge, LA): Take the complexity out of skin care and shop this handmade, all-natural, premium beauty line for minimal makeup look.
• 
  Burbank Sportscards
  (Burbank, CA): Check out their millions of collectible cards that are the perfect gift to give to all of the sports fans in your life.
• 
  Dippity and Snark
  (Akron, OH): Shop cute and punny hand drawn cards, stationery, stickers and illustrated gifts to spread some holiday cheer.
• 
  Hops and Nuts
  (Greensboro, NC): Enjoy handcrafted nuts to complement the perfect pour – great for entertaining, gifting, snacking or in holiday recipes.
• 
  Linda’s Stuff
  (Hatboro, PA): Score authentic, designer gifts at seriously great prices for the luxe lover in your life.
• 
  Sarge & Red’s
  (Harpers Ferry, WV): Give the gift of nostalgia with this seriously sweet collection of vintage toys and games.
• 
  Sole Supremacy
  (Newark, CA): Find your next dream pair of kicks from the extensive collection of Air Jordan, Nike, and adidas.
• 
  Sweetlees Boutique
  (Mason, MI): Shop plus size fashion, cute home accessories, stocking stuffers and more — your gifting needs are in the bag.
• 
  Sweet Pea Spices
  (Dallas, TX): Make your holiday recipes sweet or savory with these spice collections, including hard-to-find regional favorites.

Now through December, shoppers can also follow @eBay on Instagram where these sellers will conduct weekly takeovers to share expert gift picks for a range of budgets and personas, as well as a behind-the-scenes look into their holiday hustles.

“Many of our sellers rely on in-person events for an extra sales boost this time of year, and buyers look forward to holiday markets for gift inspiration,” said Jordan Sweetnam, Senior Vice President and General Manager for eBay’s North America Market. “In a year where many holiday shopping traditions will look very different, eBay helps to give our sellers new ways to connect with buyers who want to find one-of-a-kind gifts and support small businesses.” 

“The closure of holiday markets severely affects my small business – 70 percent of my holiday sales stems from them,” said Danielle Capotosto, owner of Dippity and Snark. “The holiday marketplace from eBay is a great opportunity to reach new customers. I’m leaning heavily on online sales and my eBay store this season!”

eBay, a partner to small businesses everywhere for the past 25 years, has taken extra steps to implement support and relief for sellers during these unprecedented times. Most recently, eBay developed “Up & Running,” an accelerator program that helped Main Street retailers without an e-commerce presence transition to selling online – representing a pledge of up to $100 million in support for small businesses across North America.

This holiday season, shop small and discover unique gifts on The Holiday Marketplace. For even more gift ideas from thousands of small businesses across the country, visit eBay.com.

About eBay
eBay Inc. (NASDAQ: EBAY) is a global commerce leader including the Marketplace and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.           

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SOURCE eBay Inc.

ROCKVILLE, Md., Nov. 20, 2020 /PRNewswire/ — Choice Hotels International, Inc.‘s (NYSE: CHH) popular upscale brands, the Ascend Hotel Collection and Cambria Hotels, achieved impressive year-over-year room count growth and outperformed local competitors in RevPAR share gains in the third quarter of 2020. The success of Ascend, a global portfolio of resort, boutique and historic hotels, and Cambria, which is designed for modern travelers and offers a distinct local experience, further validates the company’s strategic focus on growing this revenue-intense segment.

“With leisure travel and road trips on the rise, our upscale brands continue to outperform the competition since they are ideally suited for guests looking for an escape during the current environment. Not only do our hotels offer distinct upscale amenities, but they allow travelers to unwind and experience the local flavor of a new setting,” said Janis Cannon, senior vice president, upscale brands, Choice Hotels. “In the past few months, we added several new Ascend hotels around the country — from New England, in time for leaf peeping season, to Port St. Joe in Florida, so guests can take advantage of warmer climates as winter approaches. At the same time, Cambria Hotels continues its rapid U.S. expansion with recent openings in Greenville, South Carolina; Ocean City, Maryland; and Sonoma, California. We look forward to finishing the year strong by bringing more unique upscale properties to guests in their favorite destinations soon, including Cambria hotels in downtown Detroit; Napa, California; and Washington, D.C.“

Choice’s upscale brands experienced several notable achievements in the third quarter, including:

• Ascend Hotel Collection outperformed the upscale segment in year-over-year revenue per available room (RevPAR) change by over 26 percentage points, while achieving RevPAR share gains of nearly 19 percentage points and average daily rate index gains of approximately 9 percentage points against local competitors. In fact, for the past six months, Ascend has significantly outperformed upscale soft brands and the segment overall in terms of year-over-year RevPAR change.
• Cambria Hotels: achieved RevPAR share gains versus local competitors of nearly 15 percentage points.
• These brands combined increased Choice’s domestic upscale room counts by an impressive 33%, despite the COVID-19 pandemic.

“Just as guests love Ascend and Cambria hotels, developers continue to seek out Choice brands to boost the value of their hotels,” said Mark Shalala, senior vice president of development, upscale brands, Choice Hotels. “While Ascend continues to extend its leadership position as the industry’s first and largest soft brand, Cambria’s pipeline of nearly 80 hotels makes it one of the top hotel brands expanding in North America, as recently ranked by TOPHOTELNEWS.”

For more information about Choice’s upscale development opportunities, visit https://choicehotelsdevelopment.com.

About Choice Hotels

^®
Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With more than 7,100 hotels, representing nearly 600,000 rooms, in over 40 countries and territories as of September 30, 2020, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.  

Forward-Looking Statement

This communication includes “forward-looking statements” about future events, including anticipated hotel openings.  Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other “Risk Factors” described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, any of which could cause actual results to be materially different from our expectations.

Addendum

This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained through contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, [email protected].

© 2020 Choice Hotels International, Inc. All rights reserved.

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SOURCE Choice Hotels International, Inc.