The Federal Trade Commission issued a final rule to promote competition by banning noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation.“Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 new startups that would be created a year once noncompetes are banned,” said FTC Chair Lina M. Khan. “The FTC’s final rule to ban
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April 25, 2024 @ 07:58 AM
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U.S. corporate finance leaders have increased focus on cutting costs to prepare their firms for potential economic and geopolitical uncertainty, according to the fourth annual U.S. Bank CFO Insights Report.The survey of more than 2,000 senior finance leaders nationwide revealed the top two priorities are cutting costs within the finance function and across the entire business. In contrast, driving revenue growth is just the fifth most prevalent priority. Cutting costs within the finance function
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April 25, 2024 @ 07:45 AM
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The Board of Directors of Renasant Corporation implemented the next step of the Company’s management succession plan, designating Kevin D. Chapman to become Chief Executive Officer of the Company and Renasant Bank effective May 2025. Chapman will retain his current title and duties of President of both the Company and Bank. Over the next year, current Renasant CEO, C. Mitchell Waycaster will work with Chapman on the leadership transition; in May 2025, while stepping down from the CEO position
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April 24, 2024 @ 07:53 AM
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KKR and Blackstone Real Estate Income Trust announced a definitive agreement for funds managed by KKR to acquire a portfolio of 19 purpose-built student housing properties from BREIT for approximately $1.64 billion.The over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states. The communities feature a wide range of best-in-class amenities and the majority are located with easy pedestrian
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April 25, 2024 @ 08:05 AM
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Gordon Brothers agented a $200 million delayed draw term loan for Big Lots Inc. The U.S. home discount retailer of general merchandise will use the loan’s delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed. “Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions
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April 25, 2024 @ 07:40 AM
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