Wells Fargo | September 21, 2022
Wells Fargo is donating $300,000 from the Wells Fargo Foundation to support three organizations providing urgent relief in Puerto Rico following Hurricane Fiona. The funding to the Hispanic Federation, SBP, and World Central Kitchen will focus on necessities like meals and supplies as well as resources for rebuilding efforts.
“We understand the urgency when natural disasters hit – especially in Puerto Rico, where communities are still recovering from Hurricane Maria, At times like this, our company supports the resilience of Puerto Rico and is quickly deploying resources to help meet the many needs unfolding in the aftermath of this storm.”
-Otis Rolley, president of the Wells Fargo Foundation and head of Philanthropy and Community Impact.
The donation will support on-the-ground activities in Puerto Rico through $100,000 grants to:
Hispanic Federation, an advocacy organization engaged in rebuilding Puerto Rico through housing and community development, small business support, health services, and emergency assistance, among other initiatives. Hispanic Federation will focus on emergency access to food, water and supplies.
SBP (formerly St. Bernard Project), a long-term home rebuilding and disaster response organization with existing operations in Puerto Rico. SBP will assess damage, distribute supplies, help people navigate federal assistance and rebuild homes for impacted families.
World Central Kitchen, which provides meals in response to humanitarian, climate, and community crises. World Central Kitchen is serving freshly prepared meals to the most impacted with the help of local community members.
In addition, the company provides annual funding to the American Red Cross to help communities prepare for disasters big and small. This ongoing support to the Red Cross’ Annual Disaster Giving Program will help the Red Cross provide food, emergency shelter, relief supplies, and comfort to those affected.
About Wells Fargo:
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy.
CURE ALZHEIMER&#39;S FUND | September 26, 2022
Cure Alzheimer's Fund, a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer's disease, announced today that it has reached an important milestone—awarding more than $150 million in research grants to many of the leading scientists throughout the world investigating the disease.
Since its establishment in 2004, Cure Alzheimer's Fund (CureAlz) has supported more than 670 innovative projects led by 249 scientists resulting in 948 published peer-reviewed papers in prominent scientific journals. Many of these projects have yielded significant breakthroughs, resulting in findings contributing to new and critical avenues for development of novel treatments.
"We are fortunate to work with many of the world's foremost scientists who are passionate about finding a solution and eradicating Alzheimer's disease. For 18 years, our Founders and Board of Directors have remained committed to allowing and encouraging the researchers we fund to follow the science and explore their hypotheses, There is great momentum with the research, and new discoveries are being made every day. We are honored to have been the recipients of the generosity of more than 60,000 donors who have made this research possible."
-Tim Armour, president and CEO of Cure Alzheimer's Fund.
Funded projects have included:
The Alzheimer's Genome Project™, the first large-scale, family-based study of the human genome specific to Alzheimer's disease.
A consortium testing large libraries of FDA-approved drugs and natural products to determine those that may be beneficial against Alzheimer's disease.
A consortium of experts to expand our understanding of the role of the APOE gene with Alzheimer's disease.
About Cure Alzheimer's Fund:
Cure Alzheimer's Fund is a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer's disease. Since its founding in 2004, Cure Alzheimer's Fund has contributed more than $150 million to research, and its funded initiatives have been responsible for many key breakthroughs. Cure Alzheimer's Fund has received a 4-star rating for more than 10 consecutive years from Charity Navigator. With 100% of funds raised going to support research, Cure Alzheimer's Fund has been able to provide grants to many of the best scientific minds in the field of Alzheimer's research.
FARADAY FUTURE | August 16, 2022
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding.
Under the new financing facility, which contemplates total potential funding of as much as $600 million in a convertible secured notes structure, Faraday Future will receive an initial $52 million of committed funds. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. Investors contributing $27 million (plus up to $31 million from additional investors who commit on or prior to August 17, 2022 and fund on or prior to August 19, 2022) will receive a conversion price of $2.2865 per FFIE share, later contributions will receive a conversion price of $2.69 per FFIE share. All investors will receive 33% warrant coverage with an exercise price of $5.00 per FFIE share. The facility is structured to allow for additional investor participation on similar terms. Other terms can be found in our 8-K filing dated August 15, 2022. Citi served as placement agent, and Sidley Austin LLP served as legal advisor to the Company. Blank Rome LLP and Ellenoff Grossman & Schole LLP served as legal advisors to the lead investor in the fundraising.
The Company remains in active discussions with both U.S. institutional investors and international funding sources. These discussions may or may not lead to additional funding commitments beyond what has already been executed. The Company will provide further updates on financing negotiations as appropriate, and upon the conclusion of any additional definitive agreements.
“I am very pleased to have this important new committed capital and framework in place for substantial additional funding. We are working diligently to complete this capital raise process in order to raise sufficient new funds to launch the FF 91. Subject to successful completion of this fundraising process, I am confident that we can deliver cars to our customers in late Q3 or Q4, Our Hanford manufacturing facility, recently renamed the “FF ieFactory California” is nearing completion. We have all the equipment on site needed to begin production and are in the final stages of installation. The FF ieFactory California has already produced over a dozen production-intent vehicles. Testing and validation of the FF 91 is well underway, and I am very pleased with the results we are seeing. The FF 91 will be the world’s first ultra-luxury EV and will reset customer expectations for what the future of intelligent mobility can be.”
-Dr. Carsten Breitfeld, Global CEO of Faraday Future.
ABOUT FARADAY FUTURE:
Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.
NONPROFIT MANAGEMENT,NONPROFIT TECHNOLOGY,FINANCIAL MANAGEMENT
FinOps Foundation | September 12, 2022
The FinOps Foundation, a part of The Linux Foundation's non-profit technology consortium focused on advancing the people and practice of cloud financial management, announced today that insurance giant, AIA Group, is joining as a Premier Member company.
As part of AIA's Premier Membership, Keith Austin, Associate Director of Cloud Services, leading the Cloud Centre of Excellence at AIA, will join the FinOps Governing Board as a voting member to help craft Foundation strategy and direction. The Governing Board sets the strategy of the program, including where to invest resources and funds in support of the Technical Advisory Council's work.
For more than a century, AIA has strived to make a significant, positive impact for customers and communities across Asia. As the largest independent publicly listed pan-Asian life insurance group—with a presence in 18 markets across Asia—how it evolves impacts millions of people every day.
Amid the growth of cloud computing, AIA's transition to the cloud has been enormous, increasing cloud adoption to 78%, ahead of the global average in the financial services and insurance industry. FinOps teams and practices enable companies to gain greater control over their cloud spend forecasting and migration planning. FinOps is now practiced in every major industry and AIA will lead the early growth of FinOps in the Asia-Pacific region, which is following North America and Europe in FinOps adoption, research shows.
"The common thread that unites our Technology, Digital, Analytics (TDA) team is that everybody is an expert in their respective fields. We bring together the best providers and hire top talent, and we empower our teams to build frictionless, world-class systems and products. This will now include the FinOps Foundation, By leveraging the power of TDA to transform into a customer-centric, world-class digitally-enabled insurer, we enhance our resilience and abilities to capture the growth opportunities. This also deepens our purpose to help millions of people in Asia to live healthier, longer, better lives."
-Marcel Malan, AIA Group's Head of Group IT Operations.
AIA's cloud first strategy is a fundamental pillar for AIA to be able to scale and modernize with the needs of customers, agencies and distributors, and it leads its peers in Asia in doing so.
"AIA's rapid cloud adoption takes courage, leadership and a committed team and partnership, We welcome AIA as a Premier Member. Its commitment to evolve to the cloud computing world is an example of how all companies, whether deeply established or brand new, can and must take advantage of technological advances to better meet their customer needs and stay ahead of competitors. AIA's membership in the FinOps Foundation will be a huge asset to the larger FinOps community as we develop and instill best practices across industries and continents."
-J.R. Storment, Executive Director of the FinOps Foundation.
The FinOps Foundation has continued its rapid expansion. It now serves over 7,500 community members from more than 2,500 organizations. End user members gain exposure in the FinOps community, have easy access to training and enhanced recruitment opportunities - accelerating the adoption, and are coached on the development of their FinOps practices.
The latest FinOps Foundation research indicates that large companies will continue to adopt FinOps, due to the complexity of their cloud environments, reporting requirements and the sheer number of disparate teams requiring collaboration. Also, the research found that financial services and IT industries practice FinOps most, followed by other industries.
About the FinOps Foundation:
The FinOps Foundation (F2) is a non-profit trade association made up of FinOps practitioners around the world including Atlassian, Autodesk, Gannett, HERE Technologies, Just Eat, Nationwide and Spotify. Grounded in real world stories, expertise, and inspiration for and by FinOps practitioners, the FinOps Foundation is focused on codifying and promoting cloud financial management best practices and standards to help community members and their teams become better at cloud financial management.
About AIA Group:
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$340 billion as of 31 December 2021.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 39 million individual policies and over 16 million participating members of group insurance schemes.