Tag Archives: Finance

Motorsport

Ferrari Now Accepts Cryptocurrency Payments In United States

Cryptocurrencies have revolutionized the world of finance by providing digital alternatives to traditional currencies. Initially perceived as speculative assets, cryptocurrencies are now finding wider applications beyond investment. Companies all over the world are starting to explore the potential of accepting cryptocurrency as a form of payment. One such company, Ferrari, is making a significant foray into this digital frontier.

Ferrari has recently announced its decision to accept cryptocurrency as payment for its sports cars in the United States and has plans to expand this innovative initiative to Europe as well. Enrico Galliera, the marketing and commercial chief of Ferrari based in Maranello, confirmed this news, highlighting that it was in response to the demands of their wealthy customers.


ToyotaUk

Toyota Financial Services provides payment relief to customers affected by Hawaii wildfires

About Toyota Financial Services
Toyota Financial Services (TFS) is responsible for financing and related products for Toyota in the United States. It offers retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also provides vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). Additionally, the company serves Lexus dealers and customers through Lexus Financial Services.

As of March 31, 2023, TFS has approximately 3,800 team members across the nation and holds assets worth over $137 billion. It is part of Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation, which offers a comprehensive range of financial services worldwide.

We utilize our website’s investor relations section (www.toyotafinancial.com) and SEC filings to disclose significant financial information. Our channels of communication include press releases, social media, and other platforms to share updates about our company, services, and relevant matters. While not all social media posts from us contain material information, some of them may be material. Therefore, we encourage individuals interested in our company to check our Twitter messages at www.twitter.com/toyotafinancial and Facebook posts at www.facebook.com/toyotafinancial/.

News

Hero MotoCorp Offices And Chairman’s Home Searched By Authorities In India

On August 1, 2023, officials from India’s Enforcement Directorate, under the Ministry of Finance, conducted searches at three properties related to Hero MotoCorp. The searches were carried out at Hero offices in Delhi and Gurugram, as well as the home of Hero’s Chairman Pawan Munjal. These searches were part of an investigation under the Prevention of Money Laundering Act, following a complaint made by India’s Directorate of Revenue Intelligence. The complaint alleged that a person close to Munjal was involved in carrying undeclared foreign currency.

Hero MotoCorp released a statement acknowledging the visits and stating their cooperation with the agency. During the searches, financial documents and electronic data were seized for further review. As a result of these raids, Hero MotoCorp’s shares fell by over four percent during the day’s trading.

This is the third investigation involving Hero MotoCorp in the past two years. In June 2023, India’s Ministry of Corporate Affairs initiated an investigation into an alleged diversion of funds by a third-party vendor. In 2022, an income tax-related investigation also led to visits at Hero offices and Chairman Munjal’s residence.

The outcome of the current investigation and its connection to the previous cases is still unclear. As more information becomes available, updates will be provided. Additionally, Hero MotoCorp recently announced the release of a new motorcycle, the Harley-Davidson X440, produced in partnership with the American motorcycle company. Pre-bookings for the bike will temporarily close on August 3, 2023, with the price expected to rise when bookings reopen in the future.