The street’s enthusiasm for UTI Asset Management Co.’s initial public offering (IPO) could be mixed. IPOs are doing well with record subscriptions driven by high participation. However, the current market volatility has been a spoke in the wheel that could cause investors to focus on some of the imperfections in the company’s performance.

UTI’s average asset under management (AAUM) market share is a bit of a sore point. Its March 2014 AAUM market share stood at 8.2%. This has since shrunk to 5.4% in June 2020 among domestic mutual funds. The fund house saw a higher erosion in debt funds because of the turmoil in the debt market. As a result, the size of its income fund AUM contracted by about 60% since March 2018.

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The general downtrend in equity AUM across the industry is also a concern. In August, there was a net withdrawal

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Americans are cutting back on spending as they plan for a recession that might not end until the coronavirus pandemic is over.


Angela Lang/CNET

The coronavirus recession hit the US hard and fast, shrinking the economy 32.9% in the second quarter alone, but some signs are beginning to point toward a recovery. Unemployment, while still abysmal (PDF), is starting to abate, and the stock market, despite a recent rough patch, is up overall since it crashed hard in February. A few financial experts have even declared that the end of the coronavirus recession may be at hand, while Jerome Powell, chairman of the Federal Reserve, warns that employment and economic health “remain well below their prepandemic levels” and that more aid is needed.

Economists are starting to warn of a possible “K-shaped recovery” that favors those with higher levels of education and income while leaving those with fewer advantages struggling.

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Vulnerability management is a key component of modern strategies to combat cyberattackers, but which industries perform well in this area?

The general public faces phishing attempts, spam, malvertising, and more in their daily lives. However, in the business realm, successfully targeting major companies — including banks, industrial giants, and medical facilities — can be far more lucrative for cybercriminals.

Stolen bank account data can be used to conduct fraudulent payments; information can be taken for the purposes of cyberespionage, and in the industrial sector, disrupting core operations can impact everything from energy supplies to water availability for customers. 

One of the common avenues for attacks against the enterprise is the exploitation of unpatched vulnerabilities, and so it is crucial for organizations to maintain frequent patch cycles that tackle the most high-risk security issues for their networks promptly. 

However, not every business — and not in every industry — perform patch

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By Ross Kerber

BOSTON, Sept 21 (Reuters)Publicly traded U.S. companies have been slow to add minority directors over the past five years even as women grabbed a greater share of board seats during that period, a comprehensive study to be released on Monday shows.

Across the Russell 3000, a broad index of U.S. companies, 29% now have two or more ethnically diverse directors, 7 percentage points more than in 2016, according to the new data from ISS ESG, an arm of Institutional Shareholder Services, scheduled to be presented at a conference on Monday. By contrast 66% of those boards now have 2 or more women, 27 percentage points more than in 2016, ISS found.

Brett Miller, head of data solutions for ISS ESG, said the figures reflect how boards traditionally recruit directors who have already been top officials elsewhere.

The few minorities who become corporate directors are

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PagerDuty  (PD) – Get Report shares on Thursday dropped after its outlook did not meet analyst expectations.

The San Francisco provider of a platform to spot and prevent software problems reported a fiscal-second-quarter adjusted loss of 4 cents a share, better than the Bloomberg-derived analyst estimate of a loss of 7 cents.

PagerDuty posted 26% growth in revenue to $50.7 million for the second quarter ended July 31. A Bloomberg survey pegged revenue at $51.6 million. 

For the fiscal third period PagerDuty projected a loss excluding special items of 10 cents to 11 cents a share. Bloomberg pegs the analyst estimate at a loss of 8 cents.

The company projected revenue of $52 million to $53 million for the fiscal third quarter, compared with analyst expectations of $53.7 million, according to Bloomberg.

And for fiscal 2021, the software maker estimated it would report $211 million of revenue, short

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UPDATE: MGM Resorts International said today it will lay off 18,000 employees nationwide, a total representing more than 25 percent of its US workforce.

The totals largely represent furloughed workers, who were notified back in late June that more permanent separation from the company was possible. The company is one of Nevada’s largest employers, and had a total of 83,000 worldwide workers prior to the pandemic.

The layoffs are yet another sign that Las Vegas is not recovering quickly from the closures wrought by the pandemic. MGM, the largest operator of casinos on the Las Vegas Strip, has not been able to fill its hotel rooms, and casino capacity has been restricted since Nevada began reopening in June. Restaurants and bars are still under capacity restraints, and the convention business has all but dried up for the tourist-driven town.

Two of

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Martha McSally sitting at a table: U.S. Senator Martha McSally (R-AZ) speaks during a Senate Armed Subcommittee hearing on preventing sexual assault where she spoke about her experience of being sexually assaulted in the military on Capitol Hill in Washington, U.S., March 6, 2019. Earlier in the hearing, McSally said she had been raped by a superior officer and felt "horrified" by how her experiences were handled. Joshua Roberts/Reuters


© Joshua Roberts/Reuters
U.S. Senator Martha McSally (R-AZ) speaks during a Senate Armed Subcommittee hearing on preventing sexual assault where she spoke about her experience of being sexually assaulted in the military on Capitol Hill in Washington, U.S., March 6, 2019. Earlier in the hearing, McSally said she had been raped by a superior officer and felt “horrified” by how her experiences were handled. Joshua Roberts/Reuters

  • Sen. Martha McSally of Arizona suggested her supporters should “fast a meal” and donate the money saved to her campaign as she falls behind in the polls to keep her Senate seat, according to audio obtained by a local news outlet.
  • McSally reportedly made the suggestion at an event in northern Arizona, according to the audio obtained by Arizona Family.
  • “There’s an air war going on on television right now, right, you see it,” McSally said in the audio. “And look, we’re being outgunned
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