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“Traverse City is becoming Myrtle Beach meets Hilton Head — a place catering to a population outside the region,” Mr. Treter said. What sets this project apart from others like it is how it’s paid for. Mr. Treter developed the space with Kate Redman, a lawyer who works with nonprofit organizations, and several other entrepreneurs who were dealing with similar challenges. They created a crowdfunding campaign that recruited nearly 500 residents to invest $1.3 million as a down payment to help finance the project’s construction and earn up to 7 percent annually in dividend payments. Roughly 500 more residents contributed $50 each to join the project as co-op members.
Persons: Chris Treter, Mr, Treter, , Kate Redman Organizations: Trading, , Myrtle Beach Locations: CITY, Mich, , “ Traverse, Michigan
s LONDON — The boss of U.K. stock trading service Freetrade is stepping down and leaving the company with immediate effect, the company told CNBC exclusively Monday. Dodds remains the largest individual shareholder in Freetrade, owning a roughly 12% stake, according to company filings. Freetrade is default alive and ready to take on the incumbent platforms in the UK with self-sustaining growth," Dodds said. Dodds added: "I'm very happy to say Viktor will be stepping up to take over the helm as CEO. Nebehaj, Freetrade's incoming CEO, applauded Dodds' eight-year run as CEO and said that "it's natural that different stages of a company's growth require different leaders."
Persons: Adam Dodds, Davide Fioranell, Viktor Nebehaj, Nebehaj, Dodds, he'll, Rafael Henrique, " Dodds, Viktor, Perry Blacher, Freetrade, it's Organizations: CNBC, GameStop Locations: Freetrade, U.S
In early 2020, Franziska Trautmann and Max Steitz, then seniors at Tulane University, were spitballing ways to keep their glass out of the trash. For all of its imbibing, New Orleans didn’t offer curbside glass recycling. For Ms. Trautmann and Mr. Steitz, this wasn’t just galling, but a missed opportunity. “We underestimated how much demand there was,” Mr. Steitz, 27, said. Now, four years later, their company, Glass Half Full, is the only glass recycling facility in New Orleans.
Persons: Franziska Trautmann, Max Steitz, Trautmann, Steitz, ” Mr, Organizations: Tulane University, Zeta Psi Locations: New Orleans, Crescent
Freetrade reported adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of £100,000 ($124,863) in the first quarter of 2024, according to unaudited financial statements shared with CNBC. Freetrade still generated a loss of £8.3 million in 2023, down from the £28.8 million loss it racked up the year before. "We defied difficult market conditions and delivered healthy growth in 2023 while dramatically reducing losses" in 2022, said Adam Dodds, CEO and founder of Freetrade. Net inflows totalled £130 million in the first quarter, too, as retail investor activity grew in response to resurgent markets last year. Equity markets saw serious drops in 2022 as a result of macroeconomic uncertainty and higher interest rates stoked by Russia's full-fledged invasion of Ukraine, which triggered a risk-off trade around the world.
Persons: Rafael Henrique, Freetrade, Adam Dodds, who've, Dodds, we've, Russia's Organizations: Getty, CNBC, Freetrade, Equity Locations: Ukraine
American drones aren't performing as well as those from other countries, like China's, in Ukraine. AdvertisementThe drone war in Ukraine is constantly evolving and forcing both sides to innovate quickly. American-made drones haven't excelled on the battlefield, prompting Ukraine to turn to buying Chinese-made drones. Chinese DJI drones have long played a role in the war, with Ukraine buying many of the retail models. Many said that details on the program were unclear, especially with Chinese dominance in the small drone industry.
Persons: , haven't, Adam Bry, that's, Replicator Organizations: Wall Street Journal, Service, Wall Street, Getty, Pentagon, Defense Locations: Ukraine, American, Russia, Ukrainian, Zaporizhzhia, Russian
Rising interest rates have slammed the brakes on deals, and many real-estate companies have cut staff as revenues slowed. Founded in 2020 by real-estate executives Ryan Stroker and William Martiner, Avenue One was profitable by early 2021, company officials told Business Insider. AdvertisementAvenue One cofounder and CEO Ryan Stroker told BI in an interview how the company is navigating the difficult business environment. "I was told that I wasn't spending enough money six months before the layoffs," Stroker said. Layoffs and Big SpendingBoth Stroker and Avenue One's followup statement said the company is financially secure and described the layoffs as prudent rather than necessary.
Persons: It's, Ryan Stroker, William Martiner, Wall, Stroker, Martiner, John Burns, Ryan, Axel Springer Organizations: Service, KKR, Global, Business, MetLife, Wall, Amherst, John Burns Real Estate Consulting, BI Locations: Manhattan, Axel
Gittins surrounded the fireplace in this room with a large minotaur head, above which he painted portraits of Greek philosophers. Together they established the Wirral Arts and Culture Community Land Trust (WACCLT), which launched a crowdfunding campaign through the website Ron’s Place, applied for listed status and eventually bought the building last year. Now, the property has been granted “Grade II” listing by Britain’s Department for Culture, Media and Sport on the advice of national heritage body Historic England. Ron’s Place is the first example of Outsider Art to be given protected status in England, according to Historic England. There is little to hint at what lies behind the front door of this red-brick house in Birkenhead, England.
Persons: Ron Gittins, Gittins, Jan Williams, , , Williams, Chris Teasdale, Ron, ” Williams, , I’ve, Tate, Jarvis Cocker, Cocker Organizations: London CNN, Historic, CNN, Wirral Arts, Culture, Land Trust, , Britain’s Department for Culture, Media, Sport, England Locations: British, Birkenhead, Liverpool, England, Egypt, Georgian England, Historic England, Jan Williams . Historic England, Ron’s, Birkenhead , England
Ukraine is looking to build interceptor drones to hunt and take down Russian UAVs. On Wednesday, Mykhailo Fedorov, Ukraine's minister of digital transformation, announced that the country wants to begin building interceptor drones to take down Russia's surveillance UAVs, specifically Orlan, SuperCam, and ZALA drones. The interceptor drones, as Fedorov suggested, are a cheaper option for shooting down drones and UAVs so that Ukraine can preserve its air defenses. The Shahed Hunter system, an anti-drone defense system bought with funds from the UNITED24 crowdfunding platform, releases interceptor drones with heavy-duty nets to capture incoming enemy drones. These anti-drone systems can: detect enemy drones, jam GPS signals, intercept devices in the sky.
Persons: , Mykhailo Fedorov, Fedorov, Evgeniy, Hunter Organizations: Service, NATO, AP Locations: Ukraine, Brave1, Ukrainian, Russian, Russia, Kyiv, Kyiv region, AP Ukraine, Avdiivka
In January, the legal startup DoNotPay sent more than $1 million to employees and investors in its first-ever dividend. He got the idea from one of his own angels, Sahil Lavingia, whose startup Gumroad issued a dividend last year. The expectation is that when a company sells or goes public, employees will cash in their shares for untold riches. Last year, the digital commerce startup Gumroad paid a dividend of $1 million across employees, investors, and thousands of crowdfunding backers. Cash rewardsBrowder said he wanted to offer a dividend to reward those employees and investors who bet on the startup early.
Persons: Joshua Browder, Browder, DoNotPay, it's, Sahil Lavingia, Josh Seidenfeld, Cooley, Steve Huffman, Spencer Platt, Seidenfeld, Lavingia, Andreessen Horowitz, Greylock, Dylan Field, Scott Belsky, Daniel Dines, Balaji Srinivasan, Cash, there's Organizations: Business, Big Law, Employees, Founders Fund, Adobe Locations: San Francisco
Abuja, Nigeria CNN —A Nigerian woman who wrote an online review of a can of tomato puree is facing imprisonment after its manufacturer accused her of making a “malicious allegation” that damaged its business. Her post, accompanied by a photo of an opened can of Nagiko Tomato Mix, produced by local company Erisco Foods Limited, sparked varied reactions from commenters, one of whom replied: “Stop spoiling my brother’s product. This case is due to be heard on May 20, her lawyer, Inibehe Effiong, told CNN. National police spokesman Olumuyiwa Adejobi told CNN he could not comment on the case as the matter was in court. Hard to proveNigerian legal and public affairs analyst Kelechukwu Uzoka told CNN that there are limits to the freedom of speech defense.
Persons: Nigeria CNN —, Chioma, ” Okoli, Okoli, Erisco, , , Inibehe Effiong, Nwokolo, who’s, Effiong, couldn’t, Olumuyiwa Adejobi, ” Adejobi, David, ” Effiong, Kelechukwu Uzoka, Eric Umeofia Organizations: Nigeria CNN, CNN, Facebook, Erisco Foods, Nigeria Police Force, Okoli, National, , Amnesty Locations: Abuja, Nigeria, Lagos, West African, , ” The Lagos, Erisco’s Lagos
Sen. Bernie Sanders and Senate Democrats cited advances in artificial intelligence and automation Thursday as they argued for a new bill that would mandate a 32-hour federal workweek. "The sad reality is Americans now work more hours than the people of any other wealthy nation," the Vermont independent later said. The bill introduced by the committee chair Sanders and Sen. Laphonza Butler, D-Calif., would gradually reduce the standard workweek from 40 hours to 32 hours over four years. Sanders and Democrats at Thursday's hearing said that reducing the workweek would allow people to spend more time with family and on hobbies. "This would be napalm upon the fire of inflation," said Sen. Bill Cassidy of Louisiana, and the ranking Republican on the Health, Education, Labor and Pensions Committee.
Persons: Bernie Sanders, Sen, Bill Cassidy, Sanders, Laphonza Butler, Mark Takano, Jamie Dimon, Bill Gates, Chris Murphy, Conn, Bill Cassidy of, Mike Braun, Juliet Schor, Schor, Jon Leland, Leland, Liberty Vittert, Vitter, Vittert, St . Louis, Cassidy, They're Organizations: Health, Education, Labor, Pensions, Employers, Representatives, JPMorgan, Microsoft, Republican, Boston College, Washington University Locations: Dirksen, Washington , DC, Vermont, D, Bill Cassidy of Louisiana, Indiana, St .
Digging DefensesWorkmen are seen preparing trenches on the new defense line on March 12, 2024 in Kharkiv region, Ukraine. Dragon's Teeth"Dragon's teeth", anti-tank obstacles, are seen on the new defense line on March 12, 2024 in Kharkiv region, Ukraine. AdvertisementThe ToolsDrone view of the construction of the defense line on March 12, 2024 in Kharkiv region, Ukraine. Drone view of the construction of the defense line on March 12, 2024 in Kharkiv region, Ukraine. AdvertisementDrone view of the construction of the defense line on March 12, 2024 in Kharkiv region, Ukraine.
Persons: , Kostiantyn, They're, Dara Massicot, Kostiantyn Liberov, crowdfunding, Emma Ashford, Putin Organizations: Service, Carnegie Endowment, International Peace, Getty, Russia, Stimson Center Locations: Kharkiv, Ukraine, Russia, Avdiivka, Kharkiv region, Washington
BUCHAREST, Romania (AP) — Online influencer Andrew Tate was detained in Romania and handed an arrest warrant issued by British authorities, his spokesperson said Tuesday. Tate, 37, and his brother Tristan Tate were detained Monday evening for 24 hours on allegations of sexual aggression in a U.K. case dating back to 2012-2015, spokesperson Mateea Petrescu said. But four years later we were told the U.K. authorities would not prosecute him,” they state on their campaign page. Romanian prosecutors formally indicted all four in June last year and they have denied the allegations. After their arrest in Romania, the Tate brothers were held for three months in police detention before being moved to house arrest.
Persons: Andrew Tate, Tristan Tate, Mateea Petrescu, Tate, , , ” Petrescu, Tristan Organizations: British, Tate, Court, Crown Prosecution Service Locations: BUCHAREST, Romania, Bucharest, , Westminster, Bucharest Municipality, Ilfov County
Earlier this year, Daria Chervona, a photo retoucher from Kyiv, was busy trying to raise 78 million Ukrainian hryvnia, about $2 million, for Ukraine’s army, posting daily on social media to urge friends and acquaintances to chip in. That was a high bar, but after a few weeks she announced she had cleared it, reaching her target. Each fund-raiser is then highlighted in a social media post with their picture, tapping into civilians’ desire to be recognized as active participants in the war effort. “They need to be able to tell themselves, ‘I’m doing something, I’m helping,’” Ms. Chervona, 28, said in a recent interview. “I simply understood that any reasonably active person on Instagram could pull in 50K,” she added, referring to 50,000 Ukrainian hryvnias, about $1,300.
Persons: Daria Chervona, , Instagram, Chervona, , , Locations: Kyiv
A newly surfaced video shows armed Russian crews attempting to defend a landing ship from Ukrainian sea drones. Russia has been upping its defenses against naval drones, but it's unclear how effective they are. AdvertisementA newly surfaced video shows a Russian warship crew making their last stand against Ukraine's exploding sea drones. The Ukrainian drones targeted and destroyed Black Sea Fleet warships, a section of the Kerch Bridge connecting occupied Crimea with Russia, attacked bases, and went after other key infrastructure in and around the Black Sea. New look at a Ukrainian Sea Baby USV, this one christened “Avdiivka”.
Persons: , Caesar Kunikov, 4XYsK2WFPY, 🇺🇦🇷🇺, Ker Organizations: Service, Telegram, USVs, unm, unc Locations: Russian, Russia, Ukraine
CNN —A new version of Italian artist Michelangelo Pistoletto’s “Venus of the Rags” has been unveiled in Naples after the original was destroyed in a suspected arson attack. The artwork—a statue of Venus, the Roman goddess of love, sex, beauty and fertility, and a heap of rags—stands in the Italian city’s Piazza Municipio once again following a ceremony Wednesday. The new version is “apparently identical” to the one that was burned, councillor Vincenzo Trione said in the statement. The work will be displayed in Piazza Municipio for three months before being moved to a permanent spot. Pistoletto first made the “Venus of the Rags” in 1967.
Persons: Michelangelo Pistoletto’s “, , Venus, Gaetano Manfredi, Michelangelo Pistoletto, Naples Gaetano Manfredi, Marco Cantile, Pistoletto, , Vincenzo Trione Organizations: CNN, Piazza, Pistoletto Locations: Naples, Italian, Piazza Municipio
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Satellite imagery of the Ukrainian positions shows largely basic defenses. He said that Ukraine has not placed enough emphasis on building defenses, but also shortages in manpower and equipment have been a problem. If it slows the Russians, it might give Ukraine time to build up and improve its defenses, but only time will tell. Elements of the Ukrainian military have taken up crowdfunding as a way to source money for construction equipment like excavators.
Persons: , Serhiy Hrabskyi, there's, Volodomyr Zelenskyy, Zelenskyy Organizations: Service, Business, Ukrainian Army, New York Times, Times Locations: Ukraine, Russian, Ukrainian, Avdiivka, Russia, Kyiv
The Ukrainian military is crowdfunding to buy equipment to defend itself against Russia. The equipment will be used to build fortifications and aid in evacuations. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA front-line Ukrainian military unit is turning to crowdfunding for the construction tools to build defenses to blunt Russian advances and shield Ukraine's soldiers.
Persons: , Constantine Kalinovskiy, It's, Kalinovskiy, Putin, Henry L, Emma Ashford, Ashford, Rob Lee Organizations: Service, 26th Artillery Brigade, Liberty Ukraine Foundation, 59th Brigade, Stimson Center, Russia Locations: Russia, Ukrainian, Ukraine, American
Emma Mcintyre | Getty ImagesWhen Paul Scanlan and Jeff Annison first dreamed up their production studio, Legion M, they set out to build not just a company, but a community. While crowdfunding is not a new concept, Legion M is taking it to the next level — giving ordinary moviegoers a seat at Hollywood's table. That's what sets Legion M apart. For Legion M's "My Dead Friend Zoe," the company collected funds from Legion M investors and from larger, more traditional Hollywood financiers, including Kansas City Chiefs star tight end Travis Kelce. He said working with Legion M "felt very natural from the first call."
Persons: William Shatner, Emma Mcintyre, Paul Scanlan, Jeff Annison, Jay, Bob, Anne Hathaway, Jason Sudeikis, Simon Pegg, Minnie Driver, Nandor Fodor, Zach Braff's, Rob Thomas, Veronica Mars, Annison, Zoe, Travis Kelce, Chris Temple, Glauber Contessoto, Zach Ingrasci, Erik Tanner, Frazer Harrison Organizations: Legion, San Diego, Theatre, Business, Amazon Prime, Kansas City Chiefs, Spring Studio, Getty, Angel Studios, Con, Paramount Theater Locations: San Diego , California, Hollywood, New York City, Austin , Texas
It swerves and is hit by a grenade, dropped from a Ukrainian drone. Russian soldiers appear to stagger away from it, one rolling. Yet since the fall of Avdiivka on February 17, Ukrainian military officials have reported regular Russian assaults on Robotyne. Two Russian soldiers can be seen clambering inside the ruins of a dugout, one manhandling a shovel. Ukrainian drone pilots now face Russian counterparts who have replaced their units but at a much larger scale, they said.
Persons: Ukraine CNN —, Maja Rappard, , ” Bohdan, , Anton, shellfire Organizations: Ukraine CNN, CNN, 15th National Guard, Robotyne, 65th Mechanised Brigade, NATO Locations: Orikhiv, Ukraine, Ukrainian, Belgian, Russian, Avdiivka, Lviv
The American blockchain analysis firm's "2024 Crypto Crime Report" found that $24.2 billion of illicit cryptocurrency was transferred in 2023, based on already identified illicit crypto wallets. Chainalysis retroactively updates its yearly crypto figures when new illicit wallets come to light. watch nowCrypto to avert sanctionsEntities like the crypto "mixer" Tornado Cash and Garantex took the lion's share of illicit funds in 2023. The amount of crypto transferred to sanctioned entities has climbed in recent years in tandem with a greater share of new trade restrictions specifying crypto wallets. Terrorist financingIllicit crypto volume identified by Chainalysis as terrorist financing accounted for a much smaller proportion than that of transactions to sanctioned entities in 2022.
Persons: Andrea Gacki, cryptocurrency, Chainalysis, Andrew Fierman, Garantex, Tornado Cash, Lazarus, Lazarus Group ., Sinbad.io, Chanalysis's Fierman, Tawfiq Muhammad Said Al, Law's, Hayat Tahrir Organizations: Foreign Assets, U.S . Department of, Treasury, Bloomberg, Getty, Hezbollah, CNBC, Tornado, Lazarus Group, U.S . Office, Foreign, Lazarus, National Bureau for, Iran's Quds Force, Al, ISIS, Hayat Locations: New York, Korean, Chainalysis, China, Latin America, North Korea, Iran, Iran's Quds, Syria, cryptocurrency
As the company has sought a financial lifeline by inviting more investors in, its cofounders are cashing out. The Tiramanis together previously sold off about $10 million of their shares in a 2022 fundraising round and have awarded themselves annual salaries of close to a million dollars each. "Maybe they're afraid that if they don't sell shares now they will walk away with nothing." A spigot of cash running dryBoxabl is seeking to raise $64 million in the share offering, an additional $10 million for the Tirmanis, and $1 million for other insiders at the company. AdvertisementAmong the insiders in the company seeking to sell shares in the funding round are Darryl and Lucille Maslak, the parents of Shawna Maslak, Galiano's wife.
Persons: , Paola Tiramani, Galiano, Chad Cohen, Erik Gordon, Cohen, Darryl, Lucille Maslak, Shawna, Gordon Organizations: Service, Business, Scala Advisors, University of Michigan's Ross School of Business, Securities and Exchange Commission, University of Michigan Locations: North Las Vegas , Nevada, Canada
While most of those customers say they have received their money, some said their refund requests were disputed or ignored. Two-thirds, or 23, of those people said they had asked to be refunded, or were going to ask Boxabl for their money back. Boxabl said it recently received approval to sell its homes in Arizona and is close to receiving similar clearances in California and Nevada. Amid its own dwindling cash supply, Boxabl has recently appeared less willing to grant refunds to some depositors who want out. When he sent an email in January to Boxabl asking for a refund, the company declined his request.
Persons: , Boxabl, Dan Pena, Pena, Chris Armbruster, Gary Palmer, Palmer, He's, Galiano Tiramani, Zach Punnett, Punnett, Tiramani, What's, Paolo, Boxabl Galiano, Paolo Tiramani, Peers, Helene, Ali Faraji, Faraji, wouldn't Organizations: Service, North Las, Business, Securities and Exchange Commission, SEC, Oklahoma City, Archdiocese, Regulators, Tesla Plaid Locations: North Las Vegas, California, Los Angeles, Joshua Tree, Fort Worth , Texas, Riverside , California, Guantanamo Bay, Arizona, Nevada, Oklahoma, California , Virginia , Nevada , Arizona , Utah, Hawaii, Canada, Atlanta, Aptos, Santa Cruz
But the donations have become the focus of a legal battle after an Israeli credit card company balked at transferring the funds. The campaign portrayed the family as victims of harassment by the Israeli left and emphasized its financial plight since Mr. Levi’s accounts were frozen. Then the nonprofit group that organized it took it down. The campaign to support Mr. Chasdai has raised 114,000 shekels, roughly $31,000, through a separate crowdfunding platform. But the sweeping nature of the U.S. sanctions means that financial institutions would be reluctant to participate in efforts to direct money to Mr. Levi or others, experts said.
Persons: Biden, Yinon Levi, Levi, Levi’s, David Chai Chasdai, Levi —, Britain —, Sapir Levi, Reut Gez, , Gez, Chasdai, , Eliav Lieblich Organizations: West Bank, Cal, Mr, U.S . State Department, ABC News, State Department, Britain, Mount, Mount Hebron Regional Council, Democratic Bloc, Tel Aviv University, , U.S . Treasury Locations: U.S, Tel Aviv, Israel, Palestinian, Huwara, Israeli, Hebron, Mount Hebron
CNN —Henry Olonga was at the peak of his career as a professional cricketer when he took a stance that would ultimately force him to leave Zimbabwe. Alexander Joe/AFP via Getty ImagesThese days, Olonga is more concerned with pursuing his career as a singer. The emotions, though, are still raw: after the World Cup protest, Olonga explains how he was “vilified” as a “rebel” and “controversial figure” in Zimbabwe. Flower (left) and Olonga were both exiled from Zimbabwe following their Cricket World Cup protest. “Now, I’m creating new memories in a new sphere and a new world, and I’m thoroughly enjoying it … I’ve found peace here.”
Persons: Henry Olonga, Robert Mugabe’s, Olonga, ” Olonga, Zimbabwe’s, Andy Flower, , Mugabe, , I’m, “ It’s, Alexander Joe, David Coltart –, I’d, Max Nash, , Flower, ” Mugabe, Howard Burditt, – Olonga, didn’t, he’s, I’ve Organizations: CNN, CNN Sport, Namibia, Getty, Voice Australia, India, Cricket World, Reuters, England, Zimbabwe Locations: Zimbabwe, England, Adelaide, Australia, AFP, , Africa, Rhodesia, Pakistan, India, South Africa, London, Australian
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