DIRS.INFO The most relevant business & tech news

☆ Worried About Inflation? Move to Alaska, Sell the Car and Become a Vegetarian
▼ + stars: | 2023-11-17 | by ( Tim Smart | ) www.usnews.com time to read: +7 min

The consumer price index for October showed inflation at a 3.2% level, while the producer price index came in with an annual rate of 1.3%. Perhaps the most interesting and relevant facts about inflation are that the overall number means little to the average person. “Although the overall consumer price level was flat in October, shelter inflation continued,” said Danielle Hale, chief economist for Realtor.com. Overall inflation among select urban areas was highest in the Miami to West Palm Beach corridor, up by 7.4% in October. Their inflation rate was 1.1%.

Persons: Jerome Powell, Richard McPhail, Doug McMillon, McMillon, ”, Kayla Bruun, Joe Biden, PublicSquare, Tony Welch, Danielle Hale, Shawn Ashworth, Ashworth, Maxx, Jeff Bezos Organizations: Federal, Walmart, New York Jets, Realtor.com, Berkeley Research, Goods, Auto Locations: U.S, ”, Florida, Miami, West Palm, Anchorage , Alaska

[1/3] US Treasury Secretary Janet Yellen speaks during her meeting with China's Vice Premier He Lifeng (out of frame) at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. Yellen said nothing publicly to indicate that the U.S. was poised to ease tariffs, but commentators in China were hopeful, amid a U.S. Trade Representative review. "While U.S might continue its technological curbs on China, a reduction or exemption of non-core tariffs against China is possible." Yellen last year advocated eliminating some duties on "non-strategic" goods as a way to ease some specific costs amid high inflation. Haley has said she would push Congress to revoke China’s trade status until China curbs its alleged role in the fentanyl trade.

Persons: Janet Yellen, Lifeng, Pedro PARDO, Janet Yellen's, Biden, Harry Broadman, Donald Trump's, Premier Li Qiang, Yellen, Hong Hao, Chad Bown, " Bown, Josh Hawley, Ron DeSantis, Nikki Haley, Haley, Donald Trump, David Lawder, Andrea Shalal, Gram Slattery, Jeff Mason, Heather Timmons, Nick Zieminski Organizations: China's, WASHINGTON, . Treasury, Trump, White House, World Bank, Berkeley Research, Premier, U.S . Treasury, . Trade, China's Finance, U.S, Grow Investment, Times, Peterson Institute of International Economics, Reuters, Republican, Firebrand, Thomson Locations: Diaoyutai, Beijing, China, U.S, Washington, U.s, Donald Trump's China, CHINA, Xinjiang, Hong Kong, Florida, Mexico, Cuba

☆ An epic fight over how real-estate agents get paid could transform the housing market forever
▼ + stars: | 2023-06-26 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Trying to find a buyer and sifting through offers sounds like a nightmare, so you hire a real-estate agent. The seller might no longer pay out both agents' commissions after the sale closes. Despite the potentially earthshaking consequences, most local real-estate agents — who, to be fair, have more pressing short-term concerns — have largely ignored the cases. "They not only have to pay a buyer's agent commission, but they can't negotiate that commission," Brobeck said of sellers. "It just doesn't make any sense for the seller to have to pay the buyer's agent," Brobeck told me.

Persons: —, Sitzer, that's, Max, Keller Williams, Sellers, Brokerages, Stephen Brobeck, Brobeck, Moehrl, Wager, Katie Johnson, you'll, Johnson, Buyers, Nicholas Economides, homebuyers, Trump, Everyone's, Rob Hahn, Steve Marcus, David Eisenstadt, Eisenstadt, Hahn, James Rodriguez Organizations: National Association of Realtors, NAR, Realtors, MLS, Consumer Federation of America, New York University, CFA, Realtor.com, REUTERS, Berkeley Research Group, Justice Department's Antitrust Locations: America, Missouri, Illinois, MLSs, Houston , Texas, Australia, Netherlands, United Kingdom

☆ Atlanta Prosecutors Contact Firms That Consulted With Trump Campaign
▼ + stars: | 2023-06-02 | by ( Danny Hakim | Richard Fausset | ) www.nytimes.com time to read: +1 min

Prosecutors in Atlanta investigating election interference by Donald J. Trump and his allies recently contacted two consulting companies that were hired by the Trump campaign in 2020 to research myriad claims of vote fraud but ended up finding no proof that significant fraud had occurred, according to people with knowledge of the investigation. The interest in the companies and their work in Georgia and several other battleground states could be used by prosecutors to undercut claims by Mr. Trump and his allies that they had legitimate grievances about the election. The firms had previously been subpoenaed by federal prosecutors. The latest development regarding prosecutors in Atlanta was reported earlier by The Washington Post. Ms. Willis is looking into a number of other post-election moves by the Trump team, including a plan to create a slate of fake electors pledged to Mr. Trump despite President Biden’s victory in Georgia.

Persons: Donald J, Trump, Fani, Willis, Brad Raffensperger, Biden’s Organizations: Simpatico Software Systems, Berkeley Research, Mr, The Washington Post, Trump Locations: Atlanta, Georgia, Fulton County ,

WASHINGTON, June 2 (Reuters) - A Georgia-based probe into whether former Republican President Donald Trump and others illegally sought to overturn his loss in the state's 2020 presidential election has expanded into activities outside of Georgia, the Washington Post reported on Friday. As part of the probe into Trump and his allies efforts, Willis's office has sought information from Simpatico Software Systems and Berkeley Research Group about their actions in Georgia and other U.S. states, the Post said. The companies declined to comment to the Post as did Willis' office and representatives for Trump. The Department of Justice is also investigating Trump's role in efforts to overturn his 2020 loss to Democrat Joe Biden. A number of individuals under investigation in the Fulton County probe have accepted immunity deals, court records showed last month.

Persons: Donald Trump, Fulton, Willis, Racketeer, Democrat Joe Biden, Joseph Ax, Susan Heavey, David Gregorio Our Organizations: Republican, Washington Post, Post, Democrat, Trump, Simpatico Software Systems, Berkeley Research Group, Justice, Thomson Locations: Georgia, United States, U.S, Fulton County, Fulton

She will warn about "the global impact of this standoff and highlight the need to avoid default," a senior Treasury official said. It will lead to a freeze in global financial markets," said Muehleisen, now a fellow with the Atlantic Council. G7 counterparts will question Yellen "about the financial stability risks in the U.S., the regional banks' exposure to commercial real estate. Real risks that are not manufactured for political posturing," said Stephanie Segal, a former U.S. Treasury official who is a senior fellow at the Center for Strategic and International Studies in Washington. The far more complicated "Pillar 1" plan to allow countries to tax global technology giants and other highly profitable corporations on their local sales is still under negotiation.

☆ Trump's 2020 presidential campaign hired a research firm to probe the results for election fraud but found no evidence, with the findings kept away from the public: WaPo
▼ + stars: | 2023-02-12 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

The Trump campaign commissioned a firm to probe the 2020 election, but researchers came up empty, per The WaPo. Roughly a dozen people at the Berkeley Research Group were part of a team analyzing Trump's claims. The research didn't deliver what the Trump campaign sought and the findings were kept undisclosed. The Trump campaign envisioned using evidence from the report to bolster the then-president's claims in the public arena and in court. An individual with knowledge of the findings told The Post that the Trump team pushed for at least a dozen hypotheses to be tested.

☆ Bed Bath beefs up legal team ahead of possible bankruptcy filing in New Jersey
▼ + stars: | 2023-01-20 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

A "Store Closing" banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Bed Bath has been in discussions to nail down financing that would keep it afloat if it were to file for bankruptcy, CNBC previously reported. Bed Bath also recently hired consulting firm AlixPartners as one of its advisors, replacing Berkeley Research Group, CNBC previously reported. Despite efforts to stave off landing in bankruptcy protection, a filing will likely occur in the weeks ahead, the people said. Earlier this month, Bed Bath warned of a looming bankruptcy as its turnaround plans failed to improve the business and its balance sheet deteriorated.

☆ The unraveling of $3 billion crypto lender BlockFi amid FTX's 'death spiral', according to bankruptcy filings
▼ + stars: | 2022-12-03 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

The crypto platform owes $30 million to the SEC, per bankruptcy filings. FTX, which once offered BlockFi a $400 million credit line, ultimately led to the firm's bankruptcy. BlockFi cited significant exposure to Sam Bankman-Fried's crypto empire, which filed for bankruptcy on November 11. Ironically, once FTX's "death spiral" began, BlockFi's liquidity crisis ensued and the company paused user account withdrawals on its platform. Due to the loan agreement and $355 million in digital assets held on FTX, BlockFi had substantial exposure.

New Jersey-based BlockFi, founded by fintech executive-turned-crypto entrepreneur Zac Prince, said in a bankruptcy filing that its substantial exposure to FTX created a liquidity crisis. BlockFi listed its assets and liabilities as being between $1 billion and $10 billion. Renzi said that BlockFi had sold a portion of its crypto assets earlier in November to fund its bankruptcy. In a court filing on Monday, BlockFi listed FTX as its second-largest creditor, with $275 million owed on a loan extended earlier this year. In its bankruptcy filing, BlockFi said it had hired Kirkland & Ellis and Haynes & Boone as bankruptcy counsel.

Organizations: & & .

New Jersey-based BlockFi, founded by Zac Prince, said in a bankruptcy filing that its substantial exposure to FTX created a liquidity crisis. In a court filing on Monday, BlockFi listed FTX as its second-largest creditor, with $275 million owed on a loan extended earlier this year. Crypto lenders, the de facto banks of the crypto world, boomed during the pandemic, attracting retail customers with double-digit rates in return for their cryptocurrency deposits. Crypto lenders are not required to hold capital or liquidity buffers like traditional lenders and some found themselves exposed when a shortage of collateral forced them - and their customers - to shoulder large losses. In its bankruptcy filing, BlockFi said it had hired Kirkland & Ellis and Haynes & Boone as bankruptcy counsel and Berkeley Research Group as a financial adviser.

☆ BlockFi files for bankruptcy as the crypto lender succumbs to the contagion of the FTX collapse
▼ + stars: | 2022-11-28 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Cryptocurrency lender BlockFi filed for Chapter 11 bankruptcy protection on Monday. Earlier this year, BlockFi received a $400 million credit line from FTX. According to the bankruptcy filing, BlockFi has more than 100,000 creditors, with liabilities and assets of $1 billion-$10 billion. In July, the company signed a deal with FTX to obtain a $400 million revolving credit facility. After FTX filed for bankruptcy on November 11, BlockFi announced that it would pause withdrawals and customer deposits on its platform.

☆ How FTX 'death spiral' spelled doom for BlockFi, according to bankruptcy filing
▼ + stars: | 2022-11-28 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

The former FTX CEO bailed out and took over crypto firms as cryptocurrency markets withered with Terra's spring crash. Today, BlockFi filed for bankruptcy in New Jersey, after weeks of speculation that the FTX collapse had fatally crippled it. The FTX "death spiral," as BlockFi advisor Mark Renzi put it, has now spread to another crypto entity. According to Renzi, exposure to two successive hedge fund failures, the FTX rescue, and broader market uncertainty all conspired to force BlockFi into bankruptcy. Both firms have already collected millions in fees from BlockFi in preparation work for the bankruptcy, according to court filings.

Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. Like FTX, BlockFi also has a Bahamian subsidiary. BlockFi's bankruptcy filing shows that the company's largest disclosed client has a balance of nearly $28 million. The company started talking with restructuring professionals in the days after FTX's bankruptcy filing, according to people familiar with the matter. Approximately 130 additional affiliated companies are part of the proceedings, including Alameda Research, Bankman-Fried's crypto trading firm, and FTX.us, the company's U.S. subsidiary.

☆ Hot Market for Cyber Insurance Begins to Stabilize
▼ + stars: | 2022-11-15 | by ( Richard Vanderford | ) www.wsj.com time to read: +6 min

The market for cyber insurance has begun to stabilize after a surge in ransomware attacks in recent years propelled a steep rise in premiums, observers say. Cyber insurance can pay ransoms to hackers who lock company technology systems, or it can help offset the cost of responding to data breaches. The insurance itself remains relatively niche—insurer Munich Re Group estimated the global value of cyber insurance premiums at $9.2 billion at the outset of 2022, compared with hundreds of billions of dollars spent in the U.S. alone for commercial insurance, according to the Insurance Information Institute—but events spurring premium increases have become familiar. But not all companies can, as some must have cyber insurance to work with partners, Mr. McNicholas said. “The cyber insurance community has to be fairly nimble and flexible in how it looks at risk.”Write to Richard Vanderford at Richard.Vanderford@wsj.com

Search resuls for: "Berkeley Research Group"

15 mentions found