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☆ Former New York cop charged with swindling investors in foreign exchange trading fund
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

Peace's office said that as Rodriguez, who was arrested Wednesday, lost an increasing amount of money in trading in foreign exchange, he used money from new investors to pay prior investors their promised investment returns. Ex-cop Jason Rodriguez, 37, is accused of falsely promising investors in his fund, Technical Trading Team, that there would be guardrails to protect the trading risks for their money. That included a vow to never put a maximum of 1% of investors' funds at risk at any given time, the indictment says. A former New York City police officer was indicted for conspiracy to commit wire fraud after he allegedly lied to investors and lost most of the $4.8 million they put into his foreign exchange -focused investment fund, prosecutors said Wednesday. The suit says the defendants lost more than $3 million in trading forex on a leveraged basis, and "misappropriated participant funds for personal use."

Persons: Peace, cryptocurrency, Rodriguez, Attorney Breon, Jason Rodriguez, Benjamin Yaster, Edwin Carrion, Carrion, Danielle Hass, TTT, Defendants Organizations: Attorney, Eastern, of, U.S . Justice, Washington , D.C, Brooklyn U.S, Trading, New York Police Department, NYPD, Attorney's, U.S, Futures Trading Commission, Commodity, CFTC, Investments, CNBC PRO Locations: of New York, Washington ,, New York City, Bellerose , Queens, U.S, Brooklyn, Florida, Colombia, TTT

☆ Copa Libertadores: Bolivian and Peruvian soccer teams set record after playing match at 4,150m altitude
▼ + stars: | 2024-02-22 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Standing 4,150 meters (more than 13,500 feet) above sea level, it is one of highest soccer stadiums in the world. And on Tuesday, Bolivian team Always Ready and Peruvian side Sporting Cristal set a new record for the highest match ever played in the Copa Libertadores, South America’s equivalent of the Champions League. “We must clarify something: playing at this altitude is very difficult,” Cristal head coach Enderson Moreira said after the match, per El Comercio. “We played in a complicated stadium, it is perhaps the game that Cristal has played at the highest altitude, but there are no excuses,” Cristal star Yoshimar Yotún told El Comercio. Always Ready beat Sporting Cristal 6-1 at high altitude.

Persons: Estadio Daniel Alcides Carrión, Cristal, “, ” Cristal, Enderson Moreira, Cristal’s, ”, Yoshimar Yotún, El, Raldes, Estadio Hernando Siles, Alberto Gallardo, Moreira Organizations: CNN, El, Bolivian, Peruvian, Sporting Cristal, Copa Libertadores, Champions League, Spanish, AS, Estadio, El Comercio, Libertadores, Bolivian national, El Alto Locations: Bolivian, El Alto, Peruvian, Cerro de Pasco, El Comercio, Lima, AFP, La Paz, El

☆ Spanish nightclub hit by deadly fire was ordered to close in 2022, officials say
▼ + stars: | 2023-10-02 | by ( Al Goodman | ) edition.cnn.com time to read: +3 min

Officials issued a closure order for the nightclub in the city of Murcia in January 2022, a top official in charge of licenses, told reporters on Monday. Antonio Navarro said the city reissued the decree in October 2022, after the owner’s unsuccessful appeal of the closure. Firefighters can be seen working at the site of a deadly blaze in the Teatre nightclub in Murcia, in southeastern Spain, on October 1. Bomberos/Ayuntamiento de Murcia/APThe nightclub Teatre opened with a license in 2008. But by 2022, city officials determined the alterations to create the two separate nightclubs required additional scrutiny and a new, separate license for La Fonda.

Persons: Antonio Navarro, ” Navarro, Javi, La Fonda, Navarro, “ La Fonda, Andres Francisco Guerrero, . Navarro, Guerrero, Francisco Jimenez, Jose Ballesta, Ballesta Organizations: CNN, Fonda, Europa Press, La Fonda, Firefighters, TVE Locations: Spanish, Murcia, Spain, Ayuntamiento, Telecinco

☆ Small businesses turned an Chicago old meatpacking plant into a living experiment in sustainable food, and they are thriving
▼ + stars: | 2023-08-10 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +14 min

InsiderAt The Plant in Chicago, small businesses are tinkering with sustainable food production. It was designed to make food," Edel said. The Plant's white whale is turning food waste into cashThe Plant's large backyard features a greenhouse, left, farms, and an anaerobic digester, right. The innovators believe they can pull antioxidants or vanilla, for example, from the digesting food waste and sell it. "Take the waste from vertical farming or food waste, put it in an anaerobic digester, generate energy — gas, or turn that into electricity.

Persons: Morgan McFall, Johnsen Chicago, Justine, Johnsen, John Edel, Johnsen Edel, Edel, Margot Briane, gestured, Adam Pollack, Shawn Smith, Leonor Quezada, Heffer BBQ, Smith, Quezada, We're, Heffer, Johnsen Jana Kinsman, Edel hasn't, that's, Johnsen Leonard Lerer, Leonard Lerer, Lerer, There's Organizations: Green Tech, Service, CHICAGO, Workers, Whiner, US Department of Agriculture, Sciences Locations: Chicago, Texas, The, Morgan

☆ Public Garden vs. Affordable Housing: A Court Rules for Housing
▼ + stars: | 2023-06-27 | by ( Mihir Zaveri | ) www.nytimes.com time to read: +1 min

The Elizabeth Street Garden in Manhattan is a popular space where people can do yoga, attend poetry readings or amble outdoors among roses and daffodils and sculptures of lions. It is also a rare, publicly-owned site that the city thinks is a perfect spot to put dozens of affordable apartments in one of the wealthiest parts of the city. A fight over whether to keep the garden or build the housing has dragged on for more than 10 years. But on Tuesday, the housing plan — at least for now — prevailed. Adolfo Carrión Jr., the city’s housing commissioner, called the ruling a “huge win.”“The fight over this land highlights how difficult it can be to build affordable housing, especially in neighborhoods that offer strong economic opportunities,” he said.

Persons: Elizabeth, Adolfo Carrión Jr, ” Locations: Manhattan, York

☆ For Mire Lee, Rising Art Star, It All Comes Down to Guts
▼ + stars: | 2023-06-23 | by ( Andrew Russeth | ) www.nytimes.com time to read: +1 min

“It feels like you’re looking inside the guts of a dragon, or like something that you don’t actually want to see. They do not quite belong to this world, you sense, and they threaten to malfunction or become sentient at any second. Textiles dipped in liquid clay will hang on its interior walls. It may be warm in there, thanks to a steam machine, which will keep her clay humid. “I like it to be a bit unpleasant,” she said, “so that it feels like it’s actually getting onto you.”

Persons: ”, Cecilia Alemani, Gary Carrion, Murayari, Madeline Weisburg, Lee, it’s Locations: New York, Venice

☆ World Bee Day 2023: 6 surprising things about bees
▼ + stars: | 2023-05-20 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

Unfortunately, many bee species are under threat as a result of changes in land use, pesticides, intensive agriculture and climate change — but there are steps you can take to help them thrive. In honor of World Bee Day on May 20, here are six surprising things you might not know about nature’s hardest-working pollinators. “It marks the first report of honey bees of any species foraging for materials that are not derived from plants or water-based fluids. It is also the first clear-cut example of honey bees using a tool in nature.”Honeybees also signal an imminent attack by making a chilling warning noise. Bees are seen on a honeycomb cell at the Urban Bee Hive rooftop site in Woolloomooloo, a suburb of Sydney.

☆ Ex-Peru president Toledo surrenders to US authorities, extradition imminent
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

[1/3] A media member streams their news desk on their phone screen while reporting outside Robert F. Peckham Federal Building and U.S. Courthouse on the day Peru's former President Alejandro Toledo, wanted in his home country on charges of taking millions of dollars in bribes, is expected to turn himself in for extradition, in San Jose, California, U.S. April 21, 2023. REUTERS/Loren ElliottApril 21 (Reuters) - Former Peruvian President Alejandro Toledo surrendered to U.S. authorities on Friday, a U.S. Marshals Service official told Reuters, a day after his bid to block his extradition to Peru over corruption charges was denied. The former president was arrested in the United States in July 2019 after a formal request by Peru for his extradition.

☆ Bank of America announced a new class of managing directors — here are all 87 names in corporate and investment banking
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +3 min

Bank of America has announced a new class of 360 managing directors. Insider has the list of the 87 new MDs for the firm's Global Corporate and Investment Bank. It's managing director promotion day at Bank of America. On Thursday, the class of 360 managing directors across the firm were announced internally, up 15% from the 314 promoted in 2022.Insider has the list of the 87 employees who were promoted in the firm's Global Corporate and Investment Bank — the division responsible for dealmaking. That's down 17% from 105 new MDs last year in the division, likely a reflection of a difficult year in investment banking across Wall Street that saw revenues drop in excess of 50%.

☆ 'Vulture bees' feed their babies rotting flesh, even though it breeds toxin-producing bacteria. They're a mystery to scientists.
▼ + stars: | 2022-11-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

"Vulture bees" feed their larvae rotting meat instead of relying on pollen like other bees. Scientists hung raw chicken in Costa Rica and watched vulture bees fill their leg pouches and stomachs with it. Sure enough, the researchers discovered that vulture bees' guts may be more like actual vultures or hyenas than their pollen-gathering relatives. The vulture bees had lots of acid-producing bacteria like lactobacillus, probably creating a far more acidic gut than their pollen-eating cousins. They want to study what happens in the pods where the vulture bees store meat before feeding it to their larvae.

☆ Former boxer charged with trafficking $1 billion worth of cocaine through U.S. ports
▼ + stars: | 2022-11-02 | by ( Logan Reardon | ) www.cnbc.com time to read: +1 min

Former heavyweight boxer Goran Gogic was charged by the U.S. Department of Justice on Monday with trafficking 22 tons of cocaine worth over $1 billion. Gogic was charged with three counts of violating the federal Maritime Drug Law Enforcement Act, plus one count of conspiracy. According to prosecutors, the cocaine was transported to Europe from Colombia using American ports. U.S. Attorney Breon Peace in Brooklyn called Gogic's arrest and indictment "a resounding victory for law enforcement." Gogic was a heavyweight boxer from 2001 to 2012, compiling a 21-4-2 record in 27 career matches.

☆ Mexico's FEMSA plans push for European kiosks, B2B fintech
▼ + stars: | 2022-10-31 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

FEMSA entered the European market earlier this month when it bought Swiss kiosk operator Valora, which it plans to expand with new stores and affiliating independent stores in Germany, Chief Corporate Officer Francisco Camacho told analysts. "We do not expect this to be altogether a major strain on the FEMSA funding structure," Camacho said, adding that if necessary FEMSA would fund the expansion from the firm's other operations. FEMSA is not planning to expand to other geographies for the time being, Camacho said. Executives said FEMSA would also push a business-to-business service through its financial technology arm, though they did not say how much they would invest into it, nor whether it would operate under the same name as its consumer fintech service, Spin by Oxxo. FEMSA ruled out seeking a banking license for the service for the time being, though Carrion said it was seeking permits to allow larger deposits and direct deposit payments from employers.

Quarterly revenue rose 20.5% year-on-year to 171.66 billion pesos ($8.66 billion), driven by increased sales across markets and beating the Refinitiv consensus of 163.17 billion pesos. Operating costs rose in almost all of Femsa's divisions, including a 69.4% jump in its logistics and distribution business on increased transportation and labor costs. Earnings from companies in which Femsa has controlling stakes, including Dutch beer maker Heineken (HEIN.AS), also took a hit in the quarter, Femsa said. Femsa's core earnings, or EBITDA, for the quarter rose 14.4% to 23.20 billion pesos. Revenue at Grupo Nos, Femsa's convenience store joint venture with Brazilian energy firm Raizen (RAIZ4.SA), surged 156% from the year-ago quarter.

☆ FEMSA's fintech arm eyes 10 million users in Mexico by 2023
▼ + stars: | 2022-10-20 | by ( Valentine Hilaire | ) www.reuters.com time to read: +2 min

REUTERS/Daniel Becerril/MEXICO CITY, Oct 20 (Reuters) - Spin by Oxxo, the financial technology initiative launched by Mexican bottler and retailer Femsa, is set to reach 10 million users by 2023, up from four million currently, Spin's Director General Asensio Carrion told Reuters. Spin by Oxxo, which has been financed with internal funds, has quickly become a major player in Mexican fintech. For comparison, Latin America's largest fintech Nubank has about 2.1 million customers in the country, while local player Stori aims to hit the two million client mark by 2023. Mexico's Grupo Financiero Banorte, in its second-quarter results, said it had 6.7 million digital clients. The company has more than 20,600 Oxxo stores across Latin America, and has plans to increase the number by 50% over the next decade.

☆ Archaeologists unearth eight colonial-era mummies in Peru
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

LIMA, Oct 13 (Reuters) - Archaeologists in Peru have unearthed eight centuries-old mummies at a site in the country's capital, an important find that experts say could point a colonial-era cemetery. Archaeologists on Tuesday were hard at work in Lima's Park of Legends on the coast of central Peru, carefully cleaning the ancient preserved corpses found under the site, including the remains of children. Register now for FREE unlimited access to Reuters.com Register"This finding backs our hypothesis that this could be cemetery from the colonial period, at the time of conversion to Christianity or Catholicism," she said. Government officials said the site had been occupied by the Lima and Ychsma people before the Incas. Register now for FREE unlimited access to Reuters.com RegisterReporting by Reuters TV; Writing by Sarah Morland; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

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