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October 22, 2021

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Ex-Giuliani associate Parnas found guilty of violating U.S. campaign finance law

Reuters
NEW YORK, Oct 22 (Reuters) – A federal jury on Friday convicted Lev Parnas, a one-time associate of Donald Trump’s former personal lawyer Rudy Giuliani, of violating U.S. campaign finance laws during the 2018 elections. Parnas, a Ukraine-born American businessman and his former associate Igor Fruman were accused of soliciting......

U.S. stock options traders see smooth sailing as Fed taper looms

Reuters
Morning sunlight falls on the facade of the New York Stock Exchange (NYSE) building in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/ NEW YORK, Oct 22 (Reuters) – Options traders are showing little fear that U.S stocks will turn volatile in coming weeks, even......

Lighthouse Investment hedge fund sells stake in Trump SPAC firm DWAC after merger news, big stock price rise

CNBC
CNBC – For more and to sign up click here The social media app will be developed by Trump Media and Technology Group (TMTG). Rafael Henrique | LightRocket | Getty Images At least one hedge fund sold off its stake in a SPAC after that firm announced plans to merge......

Stellantis powers up electric plans with Samsung SDI U.S. deal

Reuters
A Stellantis sign is seen outside the company’s headquarters in Auburn Hills, Michigan, U.S., June 10, 2021. REUTERS/Rebecca Cook/File Photo Follows similar deal with battery maker LGES JVs to provide up to 80 GWh annual battery capacity Stellantis aims for over 40% of U.S. sales from EVs Group targets global......

Here are two key opportunities for activist fund Starboard to improve profitability at Huntsman

CNBC
CNBC – For more and to sign up click here Monty Rakusen | Image Source | Getty Images Company: Huntsman Corp. (HUN) Business: Huntsman Corp. is a global manufacturer of differentiated organic chemical products. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Performance......

Equity, bond funds see inflows as markets hit rough patch – BOFA

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 29, 2021. REUTERS/Brendan McDermid LONDON, Oct 1 (Reuters) – Global equity and bond funds saw modest inflows at the expense of cash and gold funds even as global markets hit a rough......

Japan e-commerce giant Rakuten to list online bank

Reuters
The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey/File Photo TOKYO, Sept 30 (Reuters) – Japanese e-commerce firm Rakuten Group Inc (4755.T) said on Thursday it is preparing to list its online banking unit, raising funds as it soaks up......

Pandemic recovery fuels deal craze as third-quarter M&A breaks all records

Reuters
Global M&A hits all-time peak of $1.52 trillion in Q3 Cheap financing drives desire for transformative deals Volumes double in Europe driven by private-equity buyouts U.S. activity up 32% to $581 billion, Asia Pacific up 21% Frantic dealmaking surpasses all full-year records LONDON, Sept 30 (Reuters) – Global mergers and......

Detroit Branch NAACP’s Fight for Freedom Fund Dinner returns Sunday

Detriot News
Detroit News – For more and to sign up click here In a typical year, the Detroit Branch of the NAACP would welcome thousands downtown to the TCF Center on a spring evening to honor luminaries on the front lines for civil rights. As the pandemic gripped southeast Michigan in......

Former NYT CEO, celebrated Filipino editor to lead new independent media fund

USA TODAY – For more and to sign up click here Joseph Choi Former New York Times CEO Mark Thompson and veteran Filipino journalist and activist Maria Ressa will be joining forces to lead a new initiative aimed at supporting independent media outlets and journalism around the world. As was first reported......

Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......

Amplitude valued at $5 bln after shares jump in Nasdaq debut

Reuters
Sept 28 (Reuters) – Shares of Amplitude Inc (AMPL.O) opened nearly 43% above their reference price in their Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the Benchmark-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at......

Sanofi ditches mRNA COVID-19 vaccine after rivals’ success

Reuters
To focus on more conventional COVID-19 vaccine with GSK To pursue mRNA technology in influenza, other vaccines Started testing mRNA flu shot in humans in June PARIS, Sept 28 (Reuters) – Sanofi (SASY.PA) is dropping plans for its own mRNA-based COVID-19 vaccine because of the dominance achieved by BioNTech-Pfizer and......

China energy crunch triggers shutdowns, pleas for more coal

Reuters
Governor of Jilin province urges more coal imports Environmental checks, surging prices sap electricity generation Fears as power cuts hit traffic lights, 3G networks, factories State Grid Corp seeks to reassure residents on winter heating SHANGHAI, Sept 28 (Reuters) – China faces mounting pressure to ramp up coal imports and......

Senate GOP blocks bill that would fund government and suspend debt limit, as time runs short to avoid shutdown and default

CNBC
CNBC – For more and to sign up click here Congress is running out of time to prevent a shutdown and a default. Senate Republicans on Monday blocked a bill that would fund the government and suspend the U.S. debt ceiling, leaving Democrats scrambling to avoid a possible economic calamity.......

Two Fed officials depart amid scrutiny over investment trades

Reuters
WASHINGTON, Sept 27 (Reuters) – Two Federal Reserve officials who came under scrutiny for investment trades they made last year announced their retirements on Monday, in a controversy that has already sparked a planned review of the Fed’s ethics rules. Dallas Fed President Robert Kaplan said he will retire on......

PBOC promises to protect consumers as China Evergrande teeters

Reuters
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Housing consumers rights to be safeguarded – PBOC Evergrande shares up, bonds remain at distressed prices EV unit slides after cash warning Wednesday payment deadline looms BEIJING/HONG KONG,......

Facebook invests $50 mln to build the ‘metaverse’ in responsible manner

Reuters
A 3D printed Facebook logo is pictured on a keyboard in front of binary code in this illustration taken September 24, 2021. REUTERS/Dado Ruvic/Illustration Sept 27 (Reuters) – Facebook Inc (FB.O) will invest $50 million to partner with organizations to responsibly build the so-called metaverse – a digital world where......

U.S. SEC charges individuals in ‘meme stock’ options trading scheme

Reuters
The U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S. REUTERS/Andrew Kelly WASHINGTON/NEW YORK, Sept 27 (Reuters) – The U.S. Securities and Exchange Commission on Monday charged two individuals for a fraudulent trading scheme involving so-called “meme stocks” aimed at taking advantage of a surge in retail trading driven......

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC

Reuters
Sept 27 (Reuters) – Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. The deal with Gores Guggenheim (GGPI.O) will provide Polestar cash proceeds......

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