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☆ I visited T.J. Maxx's outdoorsy sibling Sierra, the most interesting brand in the TJX family
▼ + stars: | 2024-01-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Sierra is TJX's outdoor lifestyle brand, selling apparel, gear, home goods, and pet products. Business Insider visited a store for a closer look at T.J. Maxx's younger, sportier sibling. The Sierra store in Madison, Wisconsin, is just two doors down from a T.J. Maxx location. Dominick Reuter/Business InsiderSierra's tiny stature means it barely receives individual mention in TJX earnings calls beyond annual announcements of planned store openings, per AlphaSense. AdvertisementTJX's fingerprints are all over Sierra's stores, and the combination of its tried-and-tested playbook with this retail category make the small-but-mighty brand an exciting one to follow.

Persons: —, Dominick Reuter, I'm, TJX, Placer.ai, Ernie Herrman, Stanley, Dick's, REI, Sierra Organizations: Business, Service, Sporting, Sierra, Trading, Marshalls, Public Lands Locations: Wisconsin, Sierra, Madison , Wisconsin, Reno , Nevada, Wyoming, Denver, Burlington , Vermont, Framingham , Massachusetts, Maxx, REI

☆ AI startup Speak raises $16 million in latest funding led by Lachy Groom
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 31 (Reuters) - Speak, an artificial intelligence (AI)-backed English language learning platform, said on Thursday that it has raised $16 million in fresh funding led by venture capitalist Lachy Groom. Lachy Groom's Fund had participated in Speak's previous funding round in which it raised $20 million. OpenAI Startup Fund is investing $100 million in AI firms and is looking for early-stage startups in sectors including healthcare, climate change and education, according to its website. Reporting by Anirudh Saligrama in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Groom, Drew Houston, Arash Ferdowsi, Lachy, Anirudh, Nivedita Organizations: REUTERS, Fund, Reuters, Google, Microsoft, Thomson Locations: San Francisco, Japan, Taiwan, Germany, France, Brazil, Mexico, Bengaluru

☆ This beaten-down sector could be a bright spot in commercial real estate
▼ + stars: | 2023-06-06 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

As the market reassesses the value of office properties, investors have been steering clear of many commercial real estate stocks. Greg Kuhl, a portfolio manager at Janus Henderson, said he likes the outlook for Alexandria Real Estate Equities , a pure-play owner of life sciences centers. Malhotra said he sees lab REITs as a "lower-beta way to play the volatile Life Sciences environment." But each of these companies are more broadly diversified and have exposure to other types of commercial real estate. Kilroy, for example, had been focused in properties in the tech hubs, but it now has a growing life sciences portfolio.

Persons: Greg Kuhl, Janus Henderson, Kuhl, hasn't, Vikram Malhotra, Mizuho, Malhotra, Healthpeak's, Kilroy Organizations: Alexandria Real, stoke, Food and Drug Administration, Research, Biotech, Sciences, iShares Biotechnology, Boston Properties, Kilroy Locations: Alexandria, Ventas

LONDON, June 5 (Reuters) - A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. This allowed Chen and her deputies to move funds held in the bank accounts. The previously unreported bank records and messages show that Binance’s management over the U.S. business’s finances extended across its bank accounts at Silvergate and detail how this secret access was granted. Binance.US has denied that Binance ever operated its bank accounts. ‘PRIMARY ADMIN USER’The Binance.US trading platform was launched by its operating firm, BAM Trading, in mid-2019 under then Chief Executive Catherine Coley.

Persons: Guangying Chen, Changpeng Zhao, Chen, Binance, Zhao, Binance.US, Krishna Juvvadi, Christian Hertenstein, Brian Shroder, ” Hertenstein, “, Chen’s, Juvvadi, ”, Peak’s, Catherine Coley, Coley, Silvergate, James McDonald, Hertenstein, Susan Li, Li messaged, Li, Angus Berwick, Tom Wilson, Janet McBride, Michael Williams Organizations: Silvergate Bank, U.S, U.S . Securities, Exchange Commission, Reuters, BAM, U.S . Commodity Futures Trading Commission, CFTC, ” Reuters, SEC, “, Thomson Locations: U.S, Washington, American, US, Binance, Shanghai, Binance.US

REUTERS/Dado Ruvic/IllustrationJune 5 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Monday accused the world's largest crypto exchange, Binance, and its founder Changpeng Zhao, of operating an "elaborate scheme to evade U.S. federal securities laws." The SEC charged Binance and Zhao with 13 offences, including operating an unregistered securities exchange and failing to restrict U.S. customers from its platform. "Any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong," Binance said. Merit Peak and Sigma Chain were used to transfer tens of billions of dollars involving Binance, Binance.US and other related entities, the SEC said. Zhao instructed Binance.US to onboard Sigma Chain and Merit Peak as market makers on the Binance.US platform, the SEC said.

Persons: Dado Ruvic, Changpeng Zhao, Zhao, Binance, Binance.US, Chain’s, Angus Berwick, Michelle Price, Nick Zieminski Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Peak's, Reuters, Silvergate Bank, Sigma, BUSINESS Zhao, BAM, Sigma Chain, U.S, Thomson Locations: U.S, Switzerland, Binance.US, Shanghai, Cayman Islands

☆ The Mormon Church and its investment arm will pay $5 million to settle SEC charges that it went to 'great lengths' to avoid disclosures related to its massive portfolio
▼ + stars: | 2023-02-21 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

The Mormon Church and its investment adviser with pay millions to settle charges with the SEC. The regulator says the Church's investment manager "went to great lengths" to avoid disclosures. The Church of Jesus Christ of Latter-day Saints' has a $100 billion investment portfolio, according to a 13F form. Roger Clarke, the head of Ensign Peak, told the Wall Street Journal that the fund was an emergency account to be used in difficult times. Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution."

☆ The Mormon Church settles allegations it hid $32 billion in investments. A top exec said the church was worried its staggering wealth would cause members to stop donating.
▼ + stars: | 2023-02-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

The charges allege the two "went to great lengths" to hid the church's $34 billion in investment assets. A top exec said the church was worried revealing its wealth would cause members to stop donating, the Wall Street Journal reported. The church and Ensign Peak agreed to pay a collective $5 million settlement to settle the charges. The scale of the church's wealth only became apparent in 2019 when David Nielsen, a former employee of Ensign Peak Advisors, made a whistleblower complaint. The Mormon Church's investment portfolio features billions in Apple, Microsoft, and health care stocks, Insider previously reported.

Prime Trust made $650 million in wire transfer deposits into the Binance.US account during the quarter, the bank records show. The Binance global exchange, Binance CEO Zhao and Prime Trust did not respond to detailed questions about the transfers. Among the dealers on Binance.US was Merit Peak, according to company messages, the trading firm managed by CEO Zhao. From January to March 2021, the account records show that Merit Peak received 89 transfers from the Binance.US SEN account totalling $404 million. These transfers often immediately followed a deposit into the Binance.US account by Prime Trust, the crypto custodian firm for Binance.US client funds.

☆ Crypto giant Binance moved $400 million from U.S. partner to firm managed by CEO Zhao
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +6 min

The Binance.US account was registered under the name of BAM Trading, the U.S. exchange's operating company, according to the records. Prime Trust made $650 million in wire transfer deposits into the Binance.US account during the quarter, the bank records show. A Binance.US spokesperson, Kimberly Soward, did not address Reuters' questions about the transfers detailed in the bank records. The Binance global exchange, Binance CEO Zhao and Prime Trust did not respond to detailed questions about the transfers. The Binance.US account records reviewed by Reuters detail each transaction between January and the end of March 2021.

☆ Cramer's lightning round: TransMedics is a total winner
▼ + stars: | 2023-01-18 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...HighPeak Energy Inc : "HighPeak's a very inexpensive stock. Loading chart...TransMedics Group Inc : "I'd wait for a little bit of a pullback, but I think this is a total winner." Loading chart...Virgin Galactic Holdings Inc : "I kind of never thought I'd say this, but as a spec, that sounds darn good." Loading chart...BHP Group Ltd : "Wait a couple of days, then ... pull the trigger." Loading chart...Unilever PLC : "I think it's a very well-run company.

☆ Dead bodies litter Mount Everest because it's so dangerous and expensive to get them down
▼ + stars: | 2022-12-24 | by ( Hilary Brueck | Ashley Collman | ) www.businessinsider.com time to read: +6 min

More than 300 people have died climbing Everest since exploration first started in the early 1900s. Dead bodies on the route." Eleven people died climbing Mount Everest that spring, in what became the peak's deadliest climbing sprint in recent memory. Climbing the Seven Summits/@TENDIGUIDE/via ReutersHer memory is a grim reminder that removing dead bodies from Mount Everest is a pricey and potentially deadly chore, and one that is perhaps best left undone. Mountaineers line up as they make their way up a slope on Mount Everest on May 31, 2021.

☆ EXCLUSIVE Stonepeak Partners eyes as much as $20 bln for North America infrastructure fund -sources
▼ + stars: | 2022-11-22 | by ( Chibuike Oguh | ) www.reuters.com time to read: +3 min

The fundraising plans underscore strong demand from investors for infrastructure assets, whose inflation-linked cash flows provide a shield from soaring prices. The predecessor fund, Stonepeak Infrastructure Fund IV, returned 1.08 times its investors' money as of the end of June this year, according to the Oregon Public Employees Retirement Fund (PERS), which had made a $500 million commitment. The prior $7.2 billion Stonepeak Infrastructure Fund III, which was raised in 2018, had returned 1.59 times its investors' money, PERS data showed. The core fund aims to invest in infrastructure assets that provide inflation-linked profits stemming from long-term contracts. The New York-based firm has about $52 billion in assets under management spread across the Americas, Europe, Asia and Australia.

☆ How Amazon’s big private-label business is growing and leaving small brands to protect against knockoffs
▼ + stars: | 2022-10-12 | by ( Katie Schoolov | ) www.cnbc.com time to read: +10 min

Peak Design CEO Peter Dering compares his company's Everyday Sling Bag to the Amazon private label version at his San Francisco headquarters on September 6, 2022. A selection of some of Amazon's 118+ private label brands as of October, 2022. Then there are specialty firms that only do private labels, and some store brands have their own devoted manufacturing facilities. By comparison, private labels make up a whopping 77% of Aldi's sales, followed by Trader Joe's at 59% and Wegmans at 49%. A variety of Amazon's private label goods are shown on September 29, 2022.

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