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BMC fund trustee acquires $0 worth of shares By Investing.com

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In a recent transaction reported on March 25, 2024, BMC Fund Inc’s trustee, Markham Hunt Broyhill, acquired a total of 30,496 shares of the company’s common stock at no cost. This transaction has increased Broyhill’s total holdings in BMC Fund Inc (NYSE:BMC) to 58,519 shares.

The shares were obtained through the Paul H. Broyhill Revocable Trust, where Markham Hunt Broyhill serves as a trustee. The acquisition occurred due to the passing of Paul H. Broyhill, who was the sole member of Faye A. Broyhill Legacy, LLC. The transaction was finalized and reported in a filing dated March 26, 2024.

Investors and market watchers often scrutinize insider transactions such as these to gain insights into a company’s financial health and the confidence that insiders have in the company’s future prospects. The acquisition of a significant number of shares by a trustee can be an event of note, although in this case, the shares were acquired at no cost, which is atypical for market transactions.

BMC Fund Inc, based in Lenoir, North Carolina, is represented on the stock market under the ticker symbol BMC. The company’s business address and the trustee’s mailing address are both located at 800 Hickory Blvd SW, Lenoir, NC 28645.

This transaction was signed off by Alan R. Deal on March 26, 2024, as per the documentation filed with the Securities and Exchange Commission. Regular filings such as this one provide transparency and ongoing updates regarding the financial dealings of a company’s insiders, contributing to the overall picture of corporate governance and insider activity.

InvestingPro Insights

The recent insider acquisition at BMC Fund Inc (NYSE:BMC) by trustee Markham Hunt Broyhill has put a spotlight on the company’s financial metrics and performance. With a market capitalization of 9.75 million USD, BMC Fund Inc stands as a relatively small player in the market. Nevertheless, the company’s performance metrics suggest a bullish trend over various time frames.

BMC Fund Inc’s P/E ratio is currently at 17.17, which can offer investors a gauge of the company’s value and profitability in relation to its current share price. Moreover, BMC Fund Inc’s dividend yield stands at an attractive 4.62%, with the most recent ex-date for dividends being May 30, 2023. This indicates a potential for income in addition to any capital gains for shareholders.

Investors may also take note of the company’s price momentum, with a one-year price total return of 62.54%, reflecting significant appreciation in share value over the past year. The company’s shares are trading at 86.04% of their 52-week high, which may suggest room for growth or consolidation depending on market conditions and company performance.

InvestingPro Tips indicate that the recent insider activity could be a signal to investors about the confidence insiders have in the future of the company. For those interested in a deeper analysis, there are additional tips available on InvestingPro, which can be accessed with a yearly or biyearly Pro and Pro+ subscription at a discount using the coupon code PRONEWS24.

With the current data and additional InvestingPro Tips (there are 5 more tips available for BMC Fund Inc on InvestingPro), investors have the opportunity to make more informed decisions regarding their investment in BMC Fund Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



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India’s central bank fines Visa for unauthorised payment method By Reuters

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BENGALURU (Reuters) – The Reserve Bank of India imposed a penalty of 24.1 million rupees (nearly $288,000) on Visa (NYSE:) in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday.

“It was observed that the entity (Visa) had implemented a payment authentication solution without regulatory clearance from RBI,” the central bank said in a statement, without providing details on the transgression.

In February, the RBI had ordered the credit card company to stop using an unauthorised route to make some commercial payments, per a Reuters report.

© Reuters. FILE PHOTO: Credit card is seen in front of displayed Visa logo in this illustration taken, July 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

The central bank has aimed to tighten scrutiny of the processes followed by financial technology, or fintech, companies.

($1 = 83.6990 Indian rupees)





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Paris Olympics lift off with extravagant opening ceremony

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The Paris Olympics kicked off with an extravagant opening ceremony on Friday night when an armada of boats carried 10,500 athletes along the Seine — the first outdoor version of the spectacle that was expected to be watched by a billion people.

Earlier, a shadow was cast over the event by an act of criminal sabotage that hit France’s high-speed rail network in the early hours of the morning causing nationwide transport chaos. Heavy rain then began to fall about 30 minutes into the three-hour show, a nightmare scenario for the planners of the theatrical performance that featured a massive cast of dancers, two orchestras and a clutch of pop stars, including Lady Gaga doing a cabaret-tinged song.

Before the ceremony, interior minister Gérald Darmanin said: “We are ready for this magnificent event,” adding that no specific threats had been detected. The railway sabotage would “not have direct consequence on the Olympics or the ceremony”. 

Lady Gaga performs the opening number on the riverbank © Sina Schuldt/dpa

By mid-afternoon long queues had formed for ticket holders to get into the highly secured perimeter along the Seine river where 320,000 spectators were expected along the medieval-era cobblestone quays. The format of the event required heavy security: 45,000 police were deployed on the ground and in the air, using helicopters, drones and snipers positioned on roofs. 

The weather also tested the dozens of experienced ship captains powering the parade, who navigated at precisely the right speed to keep the show on line. Some spectators fled the quays for cover as rain poured down.

President Emmanuel Macron hosted more than 100 heads of state at Trocadero plaza across the river from the Eiffel tower where the athletes disembarked for a final parade and a performance by francophone favourite Céline Dion. Jill Biden, wife of the US president, and other leaders attended a reception at the Elysée palace beforehand. 

Map showing the route of the boat parade along the Seine river for the opening ceremony of the Paris Olympics

The idea for such an ambitious opening was the brainchild of one man, Thierry Reboul, an event specialist known for punchy marketing stunts, but pulling it off it needed more than 15,000 performers, technicians and firework specialists.

The performance featured ballet dancers on the roof of the Louvre, while hundreds of modern dancers and breakdancers performed along the quays and on some of the boats. Performers were clad in handmade outfits stitched by French couturiers, and LVMH’s Louis Vuitton trunk suitcases were prominently displayed in a lengthy segment. Bernard Arnault’s LVMH was an Olympics sponsor.

Organisers had to scale back some elements, such as BMX riders set to do tricks on a ramp because rain made it too slippery.

Floriane Issert, wearing the Flag of the International Olympic Committee (IOC), is seen on a Metal Horse on the River Seine during the opening ceremony © Getty Images

When Reboul pitched the idea for the river ceremony to Tony Estanguet, head of the Paris organising committee, the two-time gold medal winner reacted with stupor that quickly became enthusiasm. “It will be ambitious, audacious and totally crazy,” said Estanguet, recalling the moment. 

Reboul said the idea came to him on a walk along the Seine, the snaking river whose banks were chosen by a Gallic tribe called the Parisii to found a settlement about two thousands years ago. He told himself: “It should be here, of course it should be here, and nowhere else.”

The organisers hired Thomas Jolly, a 42-year-old theatre director known for a musical called Starmania, who started imagining how to convey the spirit of France from literature and culture to history. “I’m used to designing performances on a stage, and this time the entire city was my canvas,” he told reporters earlier this week. 

Zinedine Zidane, former French football player and manager, hands the Olympic Torch to Spanish tennis player Rafael Nadal © Getty Images

Jolly hired a team he has long worked with — a musical director, choreographer and a costume designer, all renowned in their fields — and also included author Leila Slimani, scriptwriter Fanny Herrero, who created the show Call My Agent!, and others to help him write the 12 tableaux that make up the ceremony.

Before they started writing, they took long walks along the Seine for inspiration and researched the history of its bridges, such as the oldest, Pont Neuf, finished under King Henry IV in 1607, and the Pont d’Austerlitz, commissioned by Napoleon Bonaparte, from which the parade will begin.

“We drew on the past of each site and monuments: almost each stone tells something about our history of France, of the history of Paris, a history which is connected to the world,” he said. 

But Jolly and Estanguet did not want the theatrics to overshadow the athletes, instead putting them at the centre of it by giving them the best spots to view the show — the decks of the boats on the river. 

“The athletes are the heroes of the show,” said Estanguet.

Although officials remained vague about the price, French media reported that the ceremony cost about €120mn, roughly four times that of the opener of the London 2012 Games. The overall cost for the Paris Games, which was pitched as a greener edition because little new infrastructure was built, is expected to reach €9-10bn, according to the national auditor. About one-third of that will be paid for by sponsors.

Jolly’s show was filled with memorable, kitschy moments: a hooded figure leaping across the zinc roofs of Paris, drag queens dancing to electro, beheaded royals of the French revolution set against heavy metal music, and a silver horse with an armour-clad rider gliding down the Seine.

Céline Dion closes the show with Edith Piaf’s ‘Hymne à l’amour’ © POOL/Olympic Broadcasting Services/AFP via Getty Images

Cheers rose when France’s beloved footballer Zinedine Zidane passed the torch to tennis champion Rafel Nadal.

The spectacle climaxed with an elaborate light show beaming out from the Tour Eiffel before a final flame relay to the Louvre led to a hot air balloon ascending into the night sky bearing a fiery Olympic cauldron.

Framed by the Eiffel tower, Canadian singer Céline Dion, in her first performance in years because of illness and wearing a white, beaded dress featuring 500m of fringe custom made by Dior, belted out Edith Piaf’s Hymne à l’amour.

“I declare the Paris games open,” said Macron.

Additional reporting by Adrienne Klasa



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How to watch, stream the Opening Ceremonies of the Paris Olympics live online free without cable

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On the heels of low ratings for the coronavirus pandemic-marred Tokyo and Beijing OlympicsParis may not do much better among U.S. viewers, a poll from Gallup released Thursday found.

Simone Biles and women’s gymnastics are poised to be a bright spot, with those surveyed selecting it as their most anticipated sport.

But according to the poll, 30% of respondents said they will not watch any of the Games, 34% said they will not watch much and 35% said they would watch at least a fair amount. That last figure is down from the 48% measured before the 2016 Olympics in Rio de Janeiro. Gallup did not measure viewing intentions for the Tokyo Olympics, which were delayed a year.

NBC’s prime-time coverage of the Tokyo Olympics mostly drew about half the audience of its Summer Games predecessor. The Beijing Olympics had the lowest-ever U.S. audience for a Winter Games. Both Games were held under severe restrictions, limiting spectators and dampening the typical fanfare. NBC, which holds the U.S. broadcasting rights through 2032, is trying to turn around that trend by enlisting a slew of entertainers and non-Olympian athletes in its coverage.

The last three Olympics, including the 2018 Pyeongchang Games, were held in time zones that limited how much live action NBC could air in prime time.

The network did not immediately respond to The Associated Press’ request for comment on the poll. Biles and the rest of the U.S. gymnastics squad could bring in high ratings, though, with Gallup finding in general that women’s sports were as anticipated as men’s. Forty-two percent chose women’s gymnastics as their most anticipated sport, while around two-thirds of respondents ranked it in their top three. That competition begins with qualifying on Sunday.

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