DIRS.INFO The most relevant business & tech news

☆ Padres owner and chairman Seidler dies aged 63
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

Jul 7, 2022; San Diego, California, USA; San Diego Padres chairman Peter Seidler (R) shakes hands with Padres former radio announcer and team ambassador Ted Leitner, who was inducted into the Padres hall of fame before the game against the San Francisco Giants at Petco Park. Mandatory Credit: Orlando Ramirez-USA TODAY Sports/File... Acquire Licensing Rights Read moreNov 14 (Reuters) - San Diego Padres owner and chairman Peter Seidler has died at the age of 63, the team said on Tuesday. Seidler, who founded private equity firm Seidler Equity Partners, purchased the team along with his uncle Peter and businessman Ron Fowler in 2012. "The Padres organization mourns the passing of our beloved Chairman and owner, Peter Seidler," Padres CEO Erik Greupner said in a statement. Although he was our Chairman and owner, Peter was at his core a Padres fan.

Persons: Peter Seidler, Ted Leitner, Orlando Ramirez, Seidler, Peter, Ron Fowler, Erik Greupner, Sheel, Rory Carroll, Toby Davis Organizations: San Diego Padres, Padres, San Francisco Giants, USA, Equity Partners, Major League Baseball, Thomson Locations: San Diego , California, USA, Petco, San Diego, Los Angeles

Worldline's (WLN.PA) stock slide, which saw around $4 billion wiped off its market value, is the latest wake-up call. COMMISSIONS CUTRevenue growth has suffered at payments firms as inflation has force European consumers to spend less, while investors fret about the euro zone slipping into recession. Some analysts say payments firms have also been caught napping, after a period of growth during COVID lockdowns. In a further sign of investor wariness, venture capital investment flows into European payment firms have also dried up. Now, it may leave private equity investors to pick up the pieces for payment service firms, analysts said.

Persons: Dado Ruvic, Paul Charpentier, Bryan Garnier, napping, Jefferies, Hannes Leitner, Leitner, Charpentier, wariness, Italy's Intesa Sanpaolo, Morgan Stanley, Worldline, Bryan Garnier's Charpentier, Elizabeth Howcroft, Alexander Smith Organizations: REUTERS, PayPal, Holdings, Companies, Barclays, Reuters, Spain's Banco Sabadell, Fidelity National Information Services, CVC Capital Partners, CVC, Thomson Locations: London, U.S, Nexi, Europe

At current prices shares are now down about 16% in the year to date, surrendering gains up to Wednesday's close. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data showed. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. He said the economy overall is slowing and online payments growth may not be quite as fast as it was in the pre-COVID era. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February.

Persons: Eva Plevier, Hannes Leitner, Adyen, Toby Sterling, Sinead Cruise, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Company, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, PayPal, Jefferies, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, North America, Stripe, Braintree, Fiserv

The Adyen share plunge "was because expectations were much higher. Analysts believed that Adyen would take significantly more share in this difficult market environment," said Jefferies equity analyst Hannes Leitner. Was the share price reaction justified? One European equities trader, who asked not to be named, noted there were orders to sell Adyen shares at any price and referred to "apocalypse selling." According to data from Refinitiv, 17 analysts rated Adyen "buy", 12 "hold", and 4 "sell" before the earnings announcement.

Persons: Eva Plevier, Jefferies, Hannes Leitner, Refinitiv, Adyen, Worldline, Italy's, Marco Simion, Pieter van der, ”, Samuel Indyk, Elizabeth Howcroft, Danilo Masoni, Toby Sterling, Dhara, Alun John, Cynthia Osterman Organizations: REUTERS, Analysts, Citigroup, UBS, KPMG, Privately, Thomson Locations: Amsterdam, Netherlands, MILAN, North America, Swiss, Adyen, EMEA, Refinitiv, London, Milan

☆ Supreme Court to hear oral arguments in Google case with potential to upend the internet
▼ + stars: | 2023-02-21 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

CNN —The Supreme Court on Tuesday is set to hear oral arguments in the first of two cases this week with the potential to reshape how online platforms handle speech and content moderation. The oral arguments on Tuesday are for a case known as Gonzalez v. Google, which zeroes in on whether the tech giant can be sued because of its subsidiary YouTube’s algorithmic promotion of terrorist videos on its platform. The allegation seeks to carve out content recommendations so that they do not receive protections under Section 230, a federal law that has for decades largely protected websites from lawsuits over user-generated content. If successful, it could expose tech platforms to an array of new lawsuits and may reshape how social media companies run their services. On Wednesday, the Court will hear arguments in a second case, Twitter v. Taamneh.

The lawsuit argued that YouTube's actions provided "material support" to Islamic State. Critics including Democratic President Joe Biden and his Republican predecessor Donald Trump have said Section 230 needs reform in light of the actions of social media companies in the decades since its enactment. Nitsana Darshan-Leitner, a lawyer representing the Gonzalez family, said social media companies, through automated and human means, can prevent militant groups from using their services. "There should be zero tolerance for terrorism on social media. Terror organizations are using social media as a tool that they never had before - and cannot do without."

☆ BlackRock bought a money manager to expand in private credit. Insiders say the deal has now led to an exodus of frustrated employees.
▼ + stars: | 2022-09-21 | by ( Danielle Walker | Rebecca Ungarino | ) www.businessinsider.com time to read: +12 min

After BlackRock acquired private credit firm Tennenbaum Capital Partners, more than a dozen employees left the small investment team. Former BlackRock employees say underwhelming pay and unfulfilled promises that the team could raise its own special situations fund led to widespread frustration and departures. The departures come as BlackRock aims to compete more aggressively in private credit, a key part of its high-priority alternatives push. Still, in recent years management has made it clear that its private investment capabilities need to be an important engine of growth. "It's not to say that the private credit market is easy to manage talent.

It raised a pre-seed round of 2.4 million euros, which VR Ventures and Redstone led. Insider has a copy of the pitch deck that it used to raise the funds. The company raised a pre-seed round of 2.4 million euros in July 2022, with funding coming from VR Ventures, Redstone VC, Basinghall Partners, and angel investors. She said that they felt this made their pitch deck inconsistent, so Mutius started trying to present without it. Insider has a copy of the pitch deck that was behind Empion's 2.4 million euro pre-seed round.

Search resuls for: "Leitner"

8 mentions found