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Search resuls for: "Renegotiating"


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In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.
Persons: , it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London
Determining the best predictors of stock-market returns is like seeking the Holy Grail for investors. They also allowed the algorithm to come up with its own ratios in an attempt to determine whether there are better indicators of stock-market performance. Examples of variables included sales, market value, and cost of goods. The data points were then scaled using ratios to correlate a company's sales revenue to other variables, such as its size. Robbins noted that traditionally, academics begin with a theory for why certain company fundamentals could be good predictors of stock market returns before testing them.
Persons: Alejandro Lopez, Lopez, Andrew Y . Chen, Tom Zimmermann, Michael Robbins, Lira, ChatGPT, Robbins, It's Organizations: Lira, University of Florida, University of Cologne, Institutional, Investors, New York Stock Exchange, American Stock Exchange, Nasdaq, Lopez
It's sentencing day for Sam Bankman-Fried
  + stars: | 2024-03-28 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
In today's big story, disgraced crypto executive Sam Bankman-Fried finds out how long he's going to prison . Sam Bankman-Fried, the ex-CEO of FTX and former face of crypto, will be sentenced in a Manhattan courtroom today. An FTX debtor lawyer told the bankruptcy court that FTX customers and creditors "will eventually be paid in full." AdvertisementGetty Images; Alyssa Powell/BIBut according to some, FTX customers getting their money back is despite SBF, not because of him. Almost a third of young people reported using ChatGPT "for tasks at work."
Persons: , Sam Bankman, Fried, Chelsea Jia Feng, Lewis Kaplan, E, Jean Carroll, Donald Trump, Insider's Jacob Shamsian, FTX, Alyssa Powell, John J, Ray III, SBF, What's, Bernstein, Toni Sacconaghi, they've, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Prosecutors, Big Tech, Companies, Pew, ChatGPT, Microsoft, League Baseball's Locations: Manhattan, New York, London, Chicago
Mr. Putin knows that his opponents — led by President Biden — fear escalation of the conflict most of all. Even bluster about going nuclear serves as a reminder to Mr. Putin’s many adversaries of the risks of pushing him too far. But Mr. Putin’s equivalent of a State of the Union speech on Thursday also contained some distinct new elements. Some would call it nuclear chess, others nuclear blackmail. That would free him to deploy as many nuclear weapons as he wants.
Persons: Vladimir V, Putin, , Biden —, Putin’s Organizations: United Locations: Ukraine, United States, Ukrainian, Russian
WASHINGTON (AP) — The United States will resume a long-suspended Peace Corps program in the North Pacific island of Palau as the Biden administration continues moves to counter growing Chinese influence in the region. “Volunteers will live and work side-by-side with community partners to improve childhood literacy and math and science skills, along with teaching English as a foreign language,” Peace Corps director Carol Spahn said in a statement. Palau’s president, Surangel Whipps, said the return of the Peace Corps reflects the strong relationship between his nation and the United States. Peace Corps officials said they hope that with congressional funding the Palau reopening will be the first of several new programs it will restart in the Pacific. The Peace Corps, a creation of the John F. Kennedy administration, currently has Pacific island programs in Fiji, Samoa, Tonga and Vanuatu.
Persons: Biden, Carol Spahn, Surangel Whipps, , ” Whipps, John F, Kennedy, Didi Tang Organizations: WASHINGTON, Peace Corps, “ Volunteers, Peace, Corps, Pacific, Marshall, Associated Press Locations: United States, North, Palau, Taiwan, Federated States, Micronesia, China, Marshall Islands, Beijing, U.S, Pacific, Fiji, Samoa, Tonga, Vanuatu
Signs for Emirates airlines are stacked to the side at Logan Airport in Boston, Massachusetts, U.S., January 19, 2022. "If you have an engine ... not performing as it should do, your costs are going to rise. Get your product right, design it to what the client wants, give it that high level of reliability. And yes, paradoxically, you can extract more value for your money for your buck in terms of your investment." He brushed aside the idea of renegotiating existing engine contracts to raise hourly pricing, saying "don't go there".
Persons: Brian Snyder, Tufan Erginbilgic, Tim Clark, Clark, I've, Royce, Erginbilgic, we're, Tim Hepher, Sharon Singleton, Mark Potter Organizations: Emirates, Logan Airport, REUTERS, Rights, Dubai's, Royce, Reuters, Airbus, Boeing, Airlines, Raytheon Technologies, Thomson Locations: Boston , Massachusetts, U.S, Dubai's Emirates, British, Dubai
But slipping into habits like these can leave one partner feeling as if they are carrying the bulk of the mental load, he said. The father and content creator based in Marlborough, Massachusetts, has been sharing his experiences trying to divide the mental load — those tasks that take planning, preparation and keeping track to maintain the family — more equally with his wife. Men are starting to hold themselves accountable, and like Watson, going online to teach other men to take on more of the mental load. So many of them say, ‘This is exactly why I divorced my husband,’” referring to the inequality of the mental load one partner can experience in keeping a relationship or family going. “If mental load is universally understood, accepted and appreciated, I think we will live in a very different world,” Watson said.
Persons: CNN — Zachary Watson, , , ’ ” Watson, Alyssa, Watson, , Eve Rodsky, Rodsky, Will, it’s, ” Rodsky, you’ve, ” Watson, Paige Bellenbaum, Bellenbaum, “ Let’s Organizations: CNN, Play Locations: Marlborough , Massachusetts, New York City,
WeWork seeks bankruptcy protectionLIMITED EXPOSUREWeWork's dramatic fall followed lavish predictions about its prospects from SoftBank founder Masayoshi Son, despite immense losses as it grew. Still, it had a credit support deal with the company worth $1.1 billion as of end-June. MST Financial analyst David Gibson said the credit support was significant, but it was not clear how much of it had been withdrawn. SoftBank declined to comment on the credit support. SoftBank owns around 71% of WeWork, which it privately valued at $47 billion at its peak but is now valued at just $44 million.
Persons: SoftBank, Adam Neumann, Neumann, WeWork, Masayoshi Son, Son, David Gibson, Anton Bridge, David Dolan, Miyoung Kim, Mark Potter Organizations: Thomson Locations: TOKYO
The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. The bankruptcy filing is limited to WeWork's locations in the U.S. and Canada, the company said in a press release. The company reported liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing. Valued in 2019 at $47 billion in a round led by Masayoshi Son's SoftBank, the company tried and failed to go public five years ago. The company leases millions of square feet of office space in 777 locations around the world, according to its regulatory filings.
Persons: WeWork, Patrick T, Fallon, PATRICK T, FALLON, David Tolley, Masayoshi Son's SoftBank, Adam Neumann, Neumann, Kirkland, Ellis, Cole Schotz, PJT, CNBC's Ari Levy Organizations: Securities and Exchange Commission, SEC, Getty, New York Stock Exchange, CNBC, PJT Partners, C Street Advisory Group, Alvarez, Marsal Locations: Los Angeles , California, AFP, New Jersey, U.S, Canada
WeWork filed for Chapter 11 bankruptcy protection on Monday. AdvertisementAdvertisementWeWork, the company synonymous with coworking that was once valued at $47 billion, filed for Chapter 11 bankruptcy on Monday night. The main thing to note about WeWork's bankruptcy filing is it's Chapter 11, rather than Chapter 7 which would involve liquidation. AdvertisementAdvertisement"They need to raise capital, and they need to rightsize their real estate portfolio — negotiating more favorable lease terms, rejecting lease terms," said Sarah Foss, global head of legal at Debtwire. It will depend on how profitable each lease is, and what renegotiating terms WeWork is offered by landlords.
Persons: WeWork, , Adam Neumann, Tim Hynes, David Tolley, Sarah Foss, Foss, Hynes, X0GgcZMUHO, Chris Person, it's, There's, there's Organizations: Service, Colliers Locations: Manhattan
The way Dan Miller told it, his startup Spora Health was crushing it, providing high-quality care to "thousands" of people online. The startup had secured at least one big contract, with Apple, according to three former Spora employees and another source close to Spora. Four of them told Insider they either no longer worked with Spora or hadn't seen Spora patients in a year. Two doctors listed on Spora's website as "featured Spora providers" also told Insider that they no longer worked for the startup. Another former clinician said she only ever treated a handful of Spora patients.
Persons: Dan Miller, Miller, Spora, it's, UnitedHealthcare, Aetna didn't, paychecks, hadn't, he's, It's, , we've, " Miller, Shelby Livingston, Rob Price, Emmalyse Brownstein, Ryan Pickrell, Gloria Dawson, Stephanie Hallett, Alcynna Lloyd, Hayley Peterson Organizations: Company, TechCrunch, Spora, US Securities and Exchange Commission, Apple, Aetna, Stanford Graduate School of Business, Human Ventures, MaC Venture, SEC Locations: Spora, Level's, slivingston@insider.com
Cutouts depicting images of oil operations are seen outside a building of Venezuela's state oil company PDVSA in Caracas, Venezuela January 28, 2019. U.S. sanctions that were in place on Venezuela since 2019 largely blocked state-run oil company PDVSA from exporting to its chosen markets. That changed last week, but Washington's six-month relaxation of the measures is too limited to spur new crude production. PDVSA also is in talks with Mercuria Energy and Sahara Energy on spot sales, the sources said. The Italian company and Spain's Repsol (REP.MC) have been in negotiations with PDVSA for months to expand gas output in Venezuela.
Persons: Carlos Garcia Rawlins, Trafigura, PDVSA, Pedro Tellechea, Tipco, Spain's, Eni, Maurel, prepay, Marianna Parraga, Laura Sanicola Organizations: REUTERS, Rights, Global, PDVSA, Bermuda, Mercuria Energy, Sahara Energy, U.S ., Reliance Industries, Valero Energy, PBF Energy, Eni, Valero, Reliance, U.S . Treasury Department, Traders, Thomson Locations: Caracas, Venezuela, U.S, Venezuela's, Sahara, PDVSA's, Houston, Washington
OSLO, Oct 24 (Reuters) - Shares in Swedish streaming company Viaplay (VPLAYb.ST) fell 18% on Tuesday after the company said it is in talks with three major shareholders as well as lenders and bondholders on a recapitalisation, and is in discussions to sell non-core operations. Viaplay said late on Monday that due to the talks, it would postpone its third-quarter earnings report to no later than Nov. 29, rather than the original plan of reporting on Tuesday. The company's shares hit an all-time low of 22.72 Swedish crowns on Tuesday, down 88% year-to-date. Viaplay did not name the shareholders, lenders and bondholders involved in the talks. Reporting by Terje Solsvik and Marta Frąckowiak Editing by Bill Berkrot and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Viaplay, Kepler, Kristoffer Carleskar, Jorgen Madsen Lindemann, Terje Solsvik, Marta Frąckowiak, Bill Berkrot, Susan Fenton Organizations: Thomson Locations: OSLO, Viaplay
Melania Trump is reportedly renegotiating the terms of her prenuptial agreement with Donald Trump. A divorce attorney told Insider that Donald Trump may have spearheaded the renegotiations. Representatives for Donald Trump and acquaintances of Melania Trump did not immediately respond to Insider's requests for comment. "I believe that Donald Trump and his financial advisors are very, very worried about what's happening in all these cases." Such provisions could include a requirement that Melania Trump campaign alongside her husband or live in the White House should he win again.
Persons: Melania Trump, Donald Trump, , Donald Trump's, Trump, Harriet Newman Cohen, Cohen, Andrew Cuomo, Weinstein, Renegotiating, Couri Hay, Melania, Barron, Beslow, Marla Maples, prenup, she's, Laura Italiano Organizations: Service, Trump Organization's New, New York Gov, Trump Locations: Manhattan, Trump Organization's New York, New York, York City, prenup renegotiations
Melania Trump is reportedly renegotiating the terms of her prenuptial agreement with Donald Trump, per Page Six. Lawyers told Insider renegotiating may be smart amid the legal troubles Donald Trump faces. Representatives for Donald Trump and several acquaintances of Melania Trump did not immediately respond to Insider's requests for comment. Melania Trump has thus far removed herself from her husband's 2024 presidential campaign, forgoing public appearances alongside Donald Trump on both the trail and in court. AdvertisementAdvertisementRegardless of what happens come 2024, Melania Trump is wise to renegotiate the agreement now, Rahmani said.
Persons: Melania Trump, Donald Trump, , Mary Jordan, Bill Beslow, Marla Maples, Beslow, Trump, Demi Moore, Nicole Kidman, Al Pacino, Linda Evangelista, Mia Farrow, Donald Trump's, Neama Rahmani, it's, Rahmani Organizations: Service, Washington Post, Republican, Trump Organization's New, Trump, West, Trial Locations: New York, Manhattan, Trump Organization's New York, York City
But ICE ultimately only ended contracts with two of the detention centers flagged in the memo. Six of the nine detention centers identified in the August 2022 memo were operated by private companies. U.S. President Joe Biden promised during the 2020 campaign to reform immigration detention and cut out for-profit companies. The lawsuit cites ICE contracting reports that said Torrance staffing shortages impacted safety, security and care. The Biden administration has held more migrants in ICE detention in recent months following the mid-May implementation of stricter asylum rules.
Persons: Ted Hesson, Alejandro Mayorkas, Joe Biden, Biden, There's, Torrance, Jenny Burke, CoreCivic, Brian Todd, Rebecca Sheff, Christopher Ferreira, Kristina Cooke, Mica Rosenberg, Suzanne Goldenberg Organizations: Biden, Immigration, Customs Enforcement, Reuters, ICE, Homeland, U.S, Residential Center, American Civil Liberties Union, ACLU, ICE Processing, GEO Group, Immigration Centers of America, GEO, ICA Locations: Torrance, New Mexico, U.S, Mexico, Albuquerque, Berks, Pennsylvania, Yuba County Jail, California, Yuba, Farmville, Virginia, COVID, Adelanto, San Francisco, New York City
[1/7] A general view of the Torrance County Detention Facility, where migrants are housed, in Estancia, New Mexico, U.S., September 21, 2023. But ICE ultimately only ended contracts with two of the detention centers flagged in the memo. Six of the nine detention centers identified in the August 2022 memo were operated by private companies. The lawsuit cites ICE contracting reports that said Torrance staffing shortages impacted safety, security and care. The Biden administration has held more migrants in ICE detention in recent months following the mid-May implementation of stricter asylum rules.
Persons: Adria Malcolm, Alejandro Mayorkas, Joe Biden, Biden, There's, Torrance, Jenny Burke, CoreCivic, Brian Todd, Rebecca Sheff, Christopher Ferreira, Ted Hesson, Kristina Cooke, Mica Rosenberg, Suzanne Goldenberg Organizations: REUTERS, Adria, Biden, Immigration, Customs Enforcement, Reuters, ICE, Reuters Graphics Reuters, Homeland, U.S, Residential Center, American Civil Liberties Union, ACLU, ICE Processing, GEO Group, Immigration Centers of America, GEO, ICA, Thomson Locations: Torrance, Estancia , New Mexico, U.S, New Mexico, Mexico, Albuquerque, Berks, Pennsylvania, Yuba County Jail, California, Yuba, Farmville, Virginia, COVID, Adelanto, San Francisco, New York City
The troubled company, which operates co-working spaces, said it will proceed with a 1-for-40 reverse stock split of its outstanding shares, meaning that 40 shares of WeWork stock will be swapped for a single share. The reverse stock split is a bid to boost WeWork’s ailing stock price and save its shares from getting delisted. WeWork’s reverse stock split will be effective at 4:01 pm Eastern Time on September 1 and begin trading post-split at the market open on September 5. As part of the plan, WeWork said it will try to lower rent costs by renegotiating more favorable lease terms for its office spaces. Members pay to rent desks at WeWork’s office spaces.
Persons: CNN —, WeWork, Adam Neumann, Sandeep Mathrani, David Tolley Organizations: CNN, New York Stock Exchange, NYSE
My mortgage broker demystified the homebuying process and guided me step by step. Here's how my mortgage broker and I worked out a plan to make my dreams of homeownership a reality and how I'm preparing for mortgage renewal in the not-too-distant future. See Insider's picks for the best mortgage lenders »My mortgage broker ran the numbers for different scenariosI spoke with a few mortgage brokers before deciding to work with the brilliant Lisa Okun. Compare today's 30-year mortgage rates »I know renegotiating my mortgage will be complexI like to know how much I'm going to need to spend. Because the interest rates in Canada were so low at the time (around 2.5%), I felt good about locking into that rate.
Persons: Lisa Okun, Lisa, They've Organizations: Service Locations: Wall, Silicon, Ontario, Canada
Byju’s blowup makes its investors look bad
  + stars: | 2023-08-07 | by ( Pranav Kiran | ) www.reuters.com   time to read: +4 min
REUTERS/Adnan Abidi/File Photo/File PhotoBENGALURU, Aug 7 (Reuters Breakingviews) - Byju’s says it provides learning programs to over 150 million students. The biggest lesson may be for the Indian education giant’s global investors including Prosus (PRX.AS) and Peak XV, formerly part of Sequoia, who watched founder power run amok in a country they have pinned high hopes on. But so long as the blowup at the hot startup once valued at $22 billion goes from bad to worse, its backers will struggle to create enough distance. For early supporter Peak XV Partners, the mess comes at a sensitive time, hot on the heels of announcing a separation from its U.S. parent. Representatives of the Amsterdam-listed investor and Peak XV Partners, formerly Sequoia’s India unit, both quit Byju’s board in June.
Persons: Adnan Abidi, Byju Raveendran, Davidson, Byju’s, Reuters Breakingviews, Prosus, Una Galani, Thomas Shum Organizations: REUTERS, Reuters, Bloomberg, XV Partners, HK, Thomson Locations: New Delhi, India, BENGALURU, Sequoia, U.S, Byju’s, Amsterdam, China, Delaware
Trump, the former Republican president seeking a return to office in 2024, said Democrat Biden was "waging war on the U.S. auto industry" through "crippling" electric vehicle mandates and urged the UAW to endorse him. Biden's campaign responded that Trump was "the most anti-union president in modern history, stacking his cabinet with anti-union officials." Trump said he advocated trade policies to help U.S. autoworkers during his presidency, including renegotiating trade deals. Biden's campaign said that he supported incentives that helped dramatically add more U.S. electric vehicle and battery production. Earlier this month the UAW called on the Biden administration to soften its proposed vehicle emissions rules.
Persons: Donald Trump, Joe Biden, Trump, Biden, Biden's, Shawn Fain, Fain, David Shepardson, Matthew Lewis Organizations: United Auto Workers, Republican, U.S, UAW, autoworkers, General Motors, Ford Motor, Chrysler, Republicans, U.S . Environmental Protection Agency, EPA, Thomson Locations: United States, Washington
Slideshow ( 4 images )Ricardo Santin, head of a group representing firms like JBS and BRF, told Reuters the agreements with trade partners should limit any export restrictions to smaller geographic regions. Still, the details of a 2004 bilateral sanitary protocol with China, Brazil’s top chicken buyer last year, could spell some pain for exporters. WOAH outlines best practices for “zoning” and compartmentalizing HPAI infection to specific areas at risk in order to ease nation-wide restrictions, allowing countries to continue to sell and export of poultry. The U.S., which competes with Brazil in poultry export markets, had HPAI outbreaks but continued to ship products. Still, total poultry meat exports rose 3% by volume and 14% by value, as revised trade agreements limited trade restrictions compared with a previous record U.S. bird flu outbreak in 2015.
Persons: Ricardo Santin, Santin, HPAI, WOAH Organizations: SAO PAULO, Reuters, World Organization for Animal Health Locations: China, Beijing, Brasilia, Rio Grande do Sul, Brazil, Japan, Mexico, South Africa, U.S
Companies Diebold Nixdorf Inc FollowNEW YORK, June 1 (Reuters) - ATM maker Diebold Nixdorf filed for bankruptcy in Texas on Thursday, saying it had reached an agreement to reduce the company's overall debt by $2.1 billion. Diebold Nixdorf said it urgently needs the new loans. Diebold has struggled with debt since it acquired Germany-based Wincor Nixdorf AG for $1.8 billion in 2016. Before filing for bankruptcy, Diebold engaged in cost-cutting efforts like reducing its real estate footprint, streamlining its ATM product range, and renegotiating its debt in March 2022. Diebold Nixdorf sells ATMs and point-of-sale systems in more than 100 countries.
Persons: Diebold Nixdorf, Diebold, Dietrich Knauth, Alexia Garamfalvi, Nick Zieminski Organizations: Diebold, Nixdorf, Diebold Nixdorf, New York Stock Exchange, Thomson Locations: Texas, Ohio, Houston, Germany
May 4 (Reuters) - Albemarle Corp (ALB.N) is open to renegotiating its Chile lithium contract before 2043 and would seek access to even more of the country's vast reserves of the metal used to make electric vehicle batteries, CEO Kent Masters told Reuters on Thursday. Albemarle and SQM's contracts only grant access to the Atacama salt flats, or salars, but Boric hopes to open up many other salars across his country for lithium production, a step that will require DLE technologies. Many DLE technologies use lots of potable water and electricity, a limitation that Albemarle has acknowledged and one it is working to limit. Chile and Albemarle could cement their dominant role in the global lithium and EV industries if they can get one or more DLE technology to succeed. Masters declined to comment on Australian lithium developer's Liontown Resources Ltd (LTR.AX) rejection in March of Albemarle's $3.7 billion takeover bid.
India's Adani Ports sells Myanmar port for a discounted $30 mln
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, May 4 (Reuters) - India's Adani Ports and Special Economic Zone Ltd (APSE.NS) said on Thursday that it has completed the sale of its port in sanction-hit Myanmar for $30 million, significantly lower than its investment in the project. Inputs from key minority shareholders were a key driver in the company's decision to exit the project, Adani Ports previously said, reiterating it would not engage with a sanctioned entity. However, a source familiar with the matter said Adani Ports had invested $195 million in the greenfield project, which had not become operational yet. Adani Ports did not immediately respond to Reuters' request for comment. Shares of Adani Ports rose as much as 1.2% after the announcement.
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