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☆ Bahamas PM fears climate action could be sidelined by geopolitics 'but we have to continue pushing'
▼ + stars: | 2024-01-13 | by ( Tania Bryer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBahamas PM fears climate action could be sidelined by geopolitics 'but we have to continue pushing'Bahamian Prime Minister Philip Davis talks to CNBC’s Tania Bryer about his response to the outcomes of COP28, as leader of one of the Small Island Developing States who are on the frontlines of climate impact.

Persons: Philip Davis, CNBC’s Tania Bryer Organizations: Bahamian

☆ Sam Bankman-Fried defense rests in criminal trial, closing arguments kick off Wednesday
▼ + stars: | 2023-10-31 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

FTX Founder Sam Bankman-Fried leaves Manhattan Federal Court after a court appearance on June 15, 2023 in New York City. When he asked his deputies about the hole, Bankman-Fried testified that they "told me they were busy and I should stop asking questions because it was distracting." Bankman-Fried testified that he was growing frustrated with regulators and skeptical about what they were doing. After the mid-morning break, Cohen asked Bankman-Fried to clarify a few things. WATCH: FTX founder retakes stand

Persons: Sam Bankman, Michael M, Danielle Sassoon, Sassoon, Bankman, Philip Davis, Fried, he'd, Ryan Salame, Matias J, Mark Cohen, Cohen, Vox, hadn't, wasn't, Jane Rosenberg, —, Dawn Giel, retakes Organizations: Santiago, Getty, Alameda Research, U.S, Bahamian, Heat, Ocner, Miami Herald, Tribune, Service, Reuters, Washington , D.C Locations: Manhattan, New York City, Bahamas, FTX, Miami, Miami , Florida, U.S, Alameda, Bankman, Washington ,

☆ Sam Bankman-Fried met with the prime minister of the Bahamas to discuss paying off the country's entire roughly $10 billion national debt, biography says
▼ + stars: | 2023-10-02 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

So he met with its prime minister to discuss paying off its whole national debt, per Michael Lewis' biography. AdvertisementAdvertisementSam Bankman-Fried once discussed paying off the Bahamas' entire national debt with the country's prime minister, according to an excerpt of Michael Lewis' upcoming biography shared by The Times of London. So Bankman-Fried started considering the idea of paying off the Bahamas' national debt himself, so the country could fix roads and build schools more easily, according to Lewis. That idea was also discussed in a meeting with the prime minister of the Bahamas, Philip Davis, the biography says. The Office of the Prime Minister of the Bahamas did not immediately respond to Insider's request for comment, sent outside normal working hours.

Persons: FTX, SBF, Michael Lewis, —, Sam Bankman, Fried, Lewis —, Lewis, Philip Davis, Davis, Donald Trump Organizations: Service, The Times, CBS, International Monetary Fund Locations: Hong Kong, Bahamas, Caribbean, London, —, Nassau

☆ High-powered satellites have made blue-carbon credits a reality. But they still face accuracy and scalability issues.
▼ + stars: | 2023-08-10 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

Breakthroughs in satellite technology have helped commercialize blue-carbon credits. Over $50 billion worth of carbon credits have been predicted to be traded annually in the voluntary market, according to McKinsey. Blue carbon, which is stored in coastal and marine ecosystems, has become an increasingly important asset in the fight against the climate crisis. Carbon credits can then be verified and issued faster. Satellite data has to be paired with sonar, divers collecting information, or other field data, she added.

Persons: Philip Davis, Guy Wolf, Oxford University spinout OxCarbon, it's, Wolf, David Gross, you've, Thomas Merriman, Donna Lyndsay, Traganos, It's, Kita's Merriman, Merriman, Zoë Balmforth, Cameron Frayling Organizations: McKinsey ., World Resources Institute, Tech, Oxford University, Bank OxCarbon, Kita, Ordnance Survey Locations: Bahamas, Caribbean, Islamorada , Florida

☆ In the Bahamas, a Constant Race to Adapt to Climate Change
▼ + stars: | 2023-05-24 | by ( David Gelles | ) www.nytimes.com time to read: +1 min

At the United Nations climate summit in Egypt last year, Prime Minister Philip Davis of the Bahamas emerged as one of the most impassioned speakers among the more than 100 heads of state in attendance. “We have to believe that a safer, better future is possible,” he told the gathering. Nicole slammed into what Mr. Davis called “the most beautiful country on earth,” as a Category 1 hurricane before moving on to the United States. The storm ended up inflicting more than $1 billion in damage on vulnerable communities. It was yet another reminder that the Bahamas is uniquely threatened by the effects of climate change.

Persons: Philip Davis of, ”, Davis, Storm Nicole, Nicole Organizations: United, New York Times Locations: United Nations, Egypt, Bahamas, United States, Busan, South Korea

☆ FTX says $415 million in crypto was hacked
▼ + stars: | 2023-01-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloJan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks. Some $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11, CEO John Ray said in a separate statement on Tuesday. FTX told a bankruptcy judge in Delaware last week that it had recovered over $5 billion in crypto, cash and liquid securities, nine weeks after declaring bankruptcy. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.

☆ Photos show disgraced FTX founder Sam Bankman-Fried cuffed in Bahamas on his way to jail
▼ + stars: | 2022-12-14 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

TOPSHOT - FTX founder Sam Bankman-Fried (C) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. - Disgraced cryptocurrency tycoon Sam Bankman-Fried was hit with multiple criminal charges December 13, 2022, accused of committing one of the biggest financial frauds in US history. FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. Sam Bankman-Fried, founder of FTX, left, and his mother Barbara Fried at the Magistrate's Court in Nassau, Bahamas, on Tuesday, Dec. 13, 2022. Bankman-Fried was denied bail by a judge, leaving the disgraced co-founder of crypto giant FTX behind bars.

☆ Disgraced FTX CEO Sam Bankman-Fried 'orchestrated yearslong fraud' on investors and customers, SEC and criminal charges say
▼ + stars: | 2022-12-13 | by ( Marlene Lenthang | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +8 min

Sam Bankman-Fried, the former CEO of cryptocurrency giant FTX, defrauded investors by funneling money into his private hedge fund and conspired to commit wire fraud against customers and lenders, federal authorities said Tuesday. The Manhattan panel indicted Bankman-Fried on eight counts: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the United States and violate the campaign finance laws. $8 billion loss to customersThe wire fraud on lenders and customers started in or about 2019 and lasted through November, according to the filing. Separately, in a filing Tuesday also in the Southern District of New York, the SEC charged him with defrauding investors and enriching Alameda. FTX CEO pledges continued cooperationAlso Tuesday, the company’s new CEO, John J. Ray III, testified at a congressional hearing on FTX’s collapse and missteps.

CNBC's Andrew Ross Sorkin reported that the charges against Bankman-Fried include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Bahamas Attorney General Ryan Pinder said the United States was "likely to request his extradition." "While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere," the statement said. The Bahamas and the United States have had an extradition treaty in place since the early 20th century, when the Bahamas was still under British control. Legal experts told CNBC that if the federal government pursues wire or bank fraud charges, Bankman-Fried could face life in prison without the possibility of supervised release.

☆ A former NBA champion is changing ‘how the world builds’ to fight the climate crisis
▼ + stars: | 2022-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

The technology is being put to the test in the Bahamas, where Fox’s company, Partanna Bahamas, is partnering with the government to build 1,000 hurricane-resistant homes, including single-family houses and apartments. Partanna home prototype, built adjacent to Partanna's building material factory in Bacardi, Bahamas. He is due to formally announce the partnership between the Bahamian government and Partanna Bahamas on Wednesday at the COP27 climate summit in Egypt. As a country on the frontline of the climate crisis, the Bahamas understands that it’s “out of time,” Fox told CNN Business. “Technology can turn the tide, and at Partanna we have developed a solution that can change how the world builds,” Fox said.

NASSAU, Oct 18 (Reuters) - The Bahamas would send troops or police to Haiti as part of a peacekeeping force if asked to do so by the United Nations or the Caribbean Community, a Bahamian government minister said on Tuesday, as Haiti's humanitarian crisis continues to worsen. read more"If Caricom determines to send troops in, Caricom will no doubt determine how that troop make-up will be, which could include Bahamian troops," National Security Minister Wayne Munroe told reporters. Bahamian Prime Minister Philip Davis assumes the chairmanship of 15-member regional group Caricom in January. Such an intervention would be in the interests of The Bahamas, Munroe said, because the Royal Bahamas Defence Force already does extensive work to patrol its territorial waters for Haitian migrants. Haitians frequently travel through Bahamian waters in hopes of reaching the United States.

☆ Bahamas to introduce price controls on dozens of key food staples
▼ + stars: | 2022-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Oct 12 (Reuters) - The Bahamas on Wednesday outlined the details of temporary price control measures aimed at helping families brave mounting global inflation, saying they would affect 38 key staples, such as eggs, bread and sanitary towels. Prime Minister Philip Davis announced the controls in a national address on Tuesday as part of broader measures to help the island nation, which imports many goods, tackle the effects of rising price pressures globally. The controls, which limit price increases to 15% for wholesalers and 25% for retailers, take effect from Monday and will last six months, after which they will be subject to review. Register now for FREE unlimited access to Reuters.com Register"The prime minister remains confident that these additional measures will provide relief to Bahamian families," the government said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sarah Morland in Mexico City and Jasper Ward in Nassau; Editing by Ana Nicolaci da CostaOur Standards: The Thomson Reuters Trust Principles.

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