Reported 6 months ago
Riot Platforms Inc. has made an unsolicited $950 million offer to acquire Bitfarms Ltd., a rival Bitcoin miner, after Bitfarms rejected a previous takeover attempt. Riot's offer of $2.30 per share in cash and stock represents a 20% premium over Bitfarms' pre-offer trading price. Riot has acquired a 9.25% stake in Bitfarms and plans to call for a vote to add directors to Bitfarms. This move comes amidst industry consolidation following a Bitcoin code update and would create the largest Bitcoin miner globally, significantly boosting Riot's Bitcoin production. The potential deal follows Bitfarms firing its interim CEO amid a lawsuit and Riot's plans to request a special shareholders meeting to consider new directors.
Source: YAHOO
Reported 6 months ago
The article discusses the concerning trend of the decreasing number of public companies in the U.S., as highlighted by JPMorgan CEO Jamie Dimon. Factors contributing to this decline include mergers, regulatory hurdles, and the availability of private capital. The article emphasizes the importance of maintaining public markets to foster entrepreneurship and innovation, suggesting solutions such as easing regulatory hurdles, incentivizing public listings, and increasing financial literacy. It argues that neglecting public markets hampers the democratic component of the U.S. economy and calls for swift action to address this decline to ensure America's position as a hub for business innovation.
Source: YAHOO
Reported 6 months ago
The article discusses the upcoming busy summer of Premier League transfers for the 2024-25 season, with the transfer window opening on June 14, 2024, and closing on August 30, 2024. It provides details on player transfers in and out for all 20 Premier League clubs, including notable movements like Morgan Sanson joining Arsenal, Adam Lallana being released from Brighton and Hove Albion, and Raphael Varane leaving Manchester United.
Source: YAHOO
Reported 6 months ago
China Evergrande Group's liquidators are seeking investors for restructuring as the company has only made "modest realizations" of its assets, with limited liquidity and internal resources. The company's trading of shares will remain suspended until further notice, after being ordered for liquidation earlier this year due to its inability to offer a concrete restructuring plan following defaults on offshore debt.
Source: YAHOO
Reported 6 months ago
Adam Neumann, former CEO of WeWork, has decided to end his bid to repurchase the company as it emerges from bankruptcy with a plan he considers unrealistic. Neumann's new real estate venture, Flow Global, had previously submitted a bid of over $500 million to acquire WeWork. WeWork, once valued at $47 billion, has been restructuring its real estate portfolio to reduce rent obligations following its Chapter 11 bankruptcy filing in 2023. Neumann was ousted in 2019 amid concerns about losses and leadership issues.
Source: YAHOO
Reported 6 months ago
Gigi Hadid showed her support for Bradley Cooper at the BottleRock festival in Napa by trying the cheesesteaks he cooked with Danny DiGiampietro, rocking out in the crowd to Stevie Nicks, and joining him on stage while he promoted his food brand and sang alongside Eddie Vedder. Their public outings together, including attending Broadway shows and meeting each other's families, have sparked romance rumors since October, with their relationship progressing to meeting each other's parents, confirming their romance in London, and enjoying Valentine's Day and other outings together.
Source: YAHOO
Reported 6 months ago
Chinese automaker BYD unveiled its fifth generation plug-in hybrid technology at an event in Shaanxi province, achieving a record low fuel consumption of 2.9 litres per 100 km. The new technology allows for a driving range of 2,100 kilometers with a fully charged battery and full gasoline tank. BYD also introduced sedan models equipped with this technology priced from 99,800 yuan, offering potential fuel cost savings of up to 9,682 yuan annually compared to gasoline models. This move intensifies competition with companies like Toyota and Volkswagen, as Chinese EV makers like BYD are challenging Japanese automakers in international markets with their plug-in hybrid offerings.
Source: YAHOO
Reported 6 months ago
The article discusses the TipRanks Smart Score tool, which rates stocks on a scale of 1 to 10 based on a combination of AI and natural language processing. It highlights Alphabet (NASDAQ:GOOGL) and Alibaba (NYSE:BABA) as top-scoring stocks with Strong Buy ratings and double-digit upside potentials. Alphabet, known for Google and YouTube, has a $2.17 trillion market cap and is seeing growth in AI and advertising revenue. Alibaba, often called the 'Amazon of China,' is expanding beyond ecommerce and has a solid foundation in China's online retail market, with a recent top-line growth of 7%. Analysts see potential for further growth in both companies, with Alphabet's stock expected to rise by 20% and Alibaba's by 45%.
Source: YAHOO
Reported 6 months ago
The Mets are set to take on the Dodgers in a three-game series at Citi Field, with five key things to watch including the Mets building off their recent walk-off win against the Giants, J.D. Martinez facing his former team, David Peterson making his season debut against the Dodgers, Freddie Freeman's return to face the Mets, and the Mets trying to figure out how to handle Dodgers' ace Tyler Glasnow.
Source: YAHOO
Reported 6 months ago
Europe's largest pension fund, Stichting Pensioenfonds ABP, has sold off approximately €10 billion ($10.8 billion) in liquid assets related to oil, gas, and coal as part of its commitment to becoming more environmentally friendly. The fund has completely divested from liquid assets in fossil energy producers, with some remaining investments in oil and gas still in its portfolio, which it plans to phase out over the next few years. ABP's actions align with the finance industry's response to stricter ESG norms, emphasizing investments in companies transitioning to a sustainable economy while avoiding those that harm the climate or biodiversity.
Source: YAHOO
Reported 6 months ago
British athletes Katarina Johnson-Thompson, Keely Hodgkinson, Matthew Hudson-Smith, and Zharnel Hughes are among the 72-strong team named to compete at the European Athletics Championships in Rome next month. The Championships will serve as a vital preparation for the upcoming Paris 2024 Olympic Games, with athletes like Molly Caudery, Holly Bradshaw, Dina Asher-Smith, and others aiming to perform well and set benchmarks ahead of the Olympics. Hodgkinson and Hudson-Smith will aim to defend their European titles, while some notable athletes like Laura Muir and Josh Kerr will not compete.
Source: YAHOO
Reported 6 months ago
The article discusses the 25th anniversary of the 1999 rom-com "Notting Hill," highlighting the current whereabouts of some of its main cast members. Julia Roberts has continued her successful acting career with roles in various films and series, while Hugh Grant has also had a successful career with multiple award nominations. Rhys Ifans, who played the quirky roommate Spike, has remained active in acting, featuring in various projects. Hugh Bonneville, known for playing Bernie in the film, has starred in big movies and series like "Downton Abbey." Emma Chambers, who portrayed Honey, continued her acting career on British TV until her passing in 2018.
Source: YAHOO
Reported 6 months ago
OpenAI has established a Safety and Security Committee led by board members like CEO Sam Altman to oversee the training of its upcoming artificial intelligence model. The committee, including directors Bret Taylor and Adam D'Angelo, will advise on safety and security decisions for OpenAI's projects. This move marks OpenAI's transition into a commercial entity from a non-profit-like organization, aiming to streamline product development while upholding accountability. The company plans to enhance safety practices over the next 90 days and consult experts like Rob Joyce and John Carlin. The new AI model is expected to advance the company's capabilities towards achieving AGI, following the recent development of an AI model for voice conversation and interaction.
Source: YAHOO
Reported 6 months ago
Israel is facing international condemnation for an airstrike in Rafah, Gaza, that led to a civilian encampment fire and at least 45 deaths, with Israeli Prime Minister Benjamin Netanyahu stating the strike wasn't intended for civilians. Spain, Norway, and Ireland have recognized a Palestinian state, prompting criticism from Israel. In other news, Donald Trump's trial is reaching closing arguments, major storms in the South caused 22 deaths, President Biden gave a Memorial Day speech, the Celtics won the Eastern Conference title, and Taylor Swift and Billie Eilish's albums both sold over 300,000 units in the U.S. in a week, marking a milestone. Darius Rucker's memoir released, America's Got Talent season 19 premieres, and sports events are happening, while a feel-good moment features a 102-year-old and a 100-year-old getting married.
Source: YAHOO
Reported 6 months ago
Source: BARRONS
Reported 6 months ago
EquiLibre Technologies, a systematic-trading startup founded by ex-DeepMind members, has partnered with Tower Research Capital to bring their algorithms and AI poker skills to the New York proprietary trading firm. The founders, with backgrounds in AI and gaming, including creating algos that beat humans in poker, are applying reinforcement learning techniques to financial markets. Despite challenges adapting Silicon Valley techniques to finance, EquiLibre aims to leverage its expertise in AI to navigate the complexities of financial data and trading.
Source: YAHOO
Reported 6 months ago
Hayden Hopkins has denied pregnancy rumors with Las Vegas Raiders owner Mark Davis following claims made by NFL news aggregator Dov Kleiman. Hopkins clarified that the reports are untrue, stating she was just a guest sitting in the owner's box at a game in 2022 and that she is expecting a child with her partner, Joey, in the fall. Kleiman had incorrectly stated that Hopkins and Davis were expecting a child after they were photographed together, fueling dating rumors that began in 2022.
Source: YAHOO
Reported 6 months ago
Teen chef William Mwungeri impressed Gordon Ramsay with his cooking skills, leading to an invitation to Hell's Kitchen. Mwungeri's viral TikTok videos showcasing dishes like beef Wellington and lasagna garnered millions of views and positive feedback. The self-taught chef hopes to collaborate with other social media influencers like Khaby Lame and Uncle Roger in the future, showcasing his talent and passion for cooking.
Source: YAHOO
Reported 6 months ago
The Saudi Pro League, backed by the Saudi football authorities and sovereign wealth fund, has embarked on a plan to transform football in the kingdom and challenge the global balance of power by acquiring top clubs and star players with the goal of becoming the number one league in the world. The league has made significant investments in big-name players like Neymar, Benzema, and Salah, attracting foreign talent to Saudi Arabia. However, questions remain about the league's ambitions, financial sustainability, and the potential impact on global football dynamics amidst concerns about human rights issues and the concept of "sportswashing" by the Saudi regime.
Source: YAHOO
Reported 6 months ago
Source: INVESTORS
Reported 6 months ago
Tesla shares have fallen around 28% year-to-date as investors are concerned about CEO Elon Musk's involvement in AI technologies and a disputed $55.8 billion pay deal from 2018. Shareholders are set to vote on the package on June 13, but proxy service Glass Lewis has advised against it due to its size and dilutive effects. Musk's focus on AI technologies has led to concerns about his distractions from Tesla, especially as he seeks broader control to develop autonomous robotaxis. Musk's recent move to raise funds for his AI startup xAI could further test his commitment to Tesla, with shares currently trading 3% lower at $173.86.
Source: YAHOO
Reported 6 months ago
Brazil's consumer prices rose less than expected in early May, with annual inflation easing to 3.7% from a year earlier, slightly below analysts' forecasts. This data is seen as giving policymakers room to further cut borrowing costs in June before pausing rate reductions. Economists and investors have become more cautious about Brazil's inflation outlook, with forecasts for 2024, 2025, and 2026 exceeding the 3% target. Despite concerns, the report showed easing seasonal food price shocks and better-than-feared core inflation, leading to a more positive market sentiment regarding Brazil's inflation dynamics and potential rate cuts by the central bank.
Source: YAHOO
Reported 6 months ago
Wheat prices surged to a 10-month high due to concerns over crops in the Black Sea region, as cold and dry weather, coupled with the Ukraine conflict, are impacting supplies. Analysts have been reducing production estimates for Russia and Ukraine, with worries also stemming from historically low rainfall in Western Australia. The rally is fueled by growers holding onto stockpiles amid uncertainty, with the USDA forecasting global wheat stockpiles to potentially reach a nine-year low in the upcoming season.
Source: YAHOO
Reported 6 months ago
Former England rugby players Shaunagh Brown, Emily Scott, and Rachael Burford, who all currently play for Harlequins, have announced their retirements at the end of the season. Brown, 34, came out of retirement this season after initially retiring in December 2022, with both Burford, a 37-year-old World Cup winner, and Scott, 31, also deciding to retire. Burford expressed gratitude in an open letter to fans, while Scott has had successful stints with both Harlequins and Saracens, earning a total of 38 caps for England.
Source: YAHOO
Reported 6 months ago
T-Mobile is purchasing U.S. Cellular's wireless operations and spectrum assets for $4.4 billion, expanding its customer base by 4 million and gaining control of about 30% of U.S. Cellular’s spectrum assets. The acquisition is expected to improve network coverage and capacity for customers and may lead to further industry consolidation. The deal includes a combination of cash and assumed debt, with U.S. Cellular customers gaining access to T-Mobile's 5G network without incurring switching costs.
Source: YAHOO