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☆ There's a real-life 'Succession' drama playing out among the children of Bernard Arnault, the world's richest person and head of luxury behemoth LVMH
▼ + stars: | 2023-05-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

But there's a similar legacy battle going on inside LVMH, the French luxury house run by Bernard Arnault. The children of the world's richest man are vying for influence within LVMH in a "Darwinian" fight. Showrunner Jesse Armstrong says his fictional Roy family is inspired by several famous dynasties, such as the Hearsts — the family behind Hearst Communications — and the Redstones — the controlling influence behind Paramount Global. There's still plenty of rivalry between the progeny of Bernard Arnault, CEO of luxury goods behemoth LVMH and world's richest person. The Roy family of "Succession."

☆ Crypto exchange Coinbase posts smaller first-quarter loss
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) posted a smaller-than-expected first-quarter loss on Thursday after investors tiptoed back to the strained asset class to hedge their bets against a worsening economic backdrop. The San Francisco-based company's net loss narrowed to $78.9 million in the three months ended March, from $429.7 million in the year-ago quarter. On a per share basis, the company reported a loss of 34 cents a share, while analysts estimated a loss of $1.35 a share, sending its shares up nearly 7% in extended trading. Coinbase's shares, which lost 85% in 2022, rose nearly 40% this year up to Thursday's close as cryptocurrencies gain some ground. "This is the fourth crypto cycle that Coinbase has been through and we've emerged stronger after each one," Chief Executive Officer Brian Armstrong said.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Lower natural gas prices are driving high demand, says Williams CEO Alan Armstrong
▼ + stars: | 2023-05-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLower natural gas prices are driving high demand, says Williams CEO Alan ArmstrongWilliams CEO Alan Armstrong joins 'Squawk on the Street' to discuss their Q1 earnings estimates, natural gas prices falling in 2023, and long-term investment opportunities in the energy sector.

☆ Coinbase launches international crypto derivatives exchange
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

May 2 (Reuters) - Coinbase Global Inc (COIN.O) launched an international exchange for cryptocurrency derivatives on Tuesday, as the company looks to expand its global footprint amid escalating tensions between the crypto sector and regulators in the United States. The exchange will let institutional users in eligible jurisdictions outside the U.S. to trade in perpetual futures, Coinbase said. The digital assets industry is recovering from several blow-ups last year, including the bankruptcy of Sam Bankman-Fried's crypto exchange FTX. "We would like to see the U.S. take a similar approach instead of regulation by enforcement, which has led to a disappointing trend for crypto development in the U.S.," the crypto exchange said. Separately, another crypto exchange Gemini on Tuesday launched a derivatives platform for trading perpetual futures, outside the U.S. jurisdiction.

CNN —When the Toronto Maple Leafs last won a playoff series, George W. Bush was the US President, Lance Armstrong was winning Tour de France titles and The Facebook had just been launched. A lot has happened since 2004, and it has been quite the wait for the Maple Leafs. Before Saturday, the Maple Leafs had lost six straight first-round series, in addition to a qualifying-round loss in 2020 during the NHL bubble. In 2004, the Maple Leafs defeated the Ottawa Senators in seven games to advance to the Eastern Conference semifinals. The Maple Leafs will face the winner of Game 7 between the Boston Bruins and Florida Panthers Sunday.

☆ No 'immediate path forward': CFTC is talking to Binance after launching legal action, official says
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

A Commodity Futures Trading Commission official said Tuesday that she hopes to find a "path forward" in the regulator's legal battle with crypto exchange Binance, noting that no decision has been taken yet on whether to settle the case or take it to court. Kristin N. Johnson, commissioner at the CFTC, said that the regulator has been in conversations with Binance to address its concerns about the company's conduct. And I want to say that typically, in the context of any litigation, we are always ready to have conversations and typically even ahead of the litigation," Johnson said in an interview with CNBC's Arjun Kharpal Tuesday. "As of the moment, we can conclude that there is not an immediate path forward," she added. Her comments mark a rare statement on the Binance suit to media since the CFTC first announced it was suing the company on Mar.

☆ Up-close photos of the Martian moon, Deimos, are forcing scientists to rethink how it formed in the first place
▼ + stars: | 2023-04-25 | by ( Marcia Dunn | Associated Press | ) www.businessinsider.com time to read: +3 min

The United Arab Emirates' Amal spacecraft recently flew within 62 miles (100 kilometers) of Deimos. Deimos is a tiny Martian moon that was thought to be a captured asteroid from space. But new close-up photos from the Amal spacecraft suggest its origins are closer to home. The United Arab Emirates' Amal spacecraft flew within 62 miles (100 kilometers) of Deimos last month and the close-up shots were released Monday. Instead, they say the moon appears to be of Martian origin — perhaps from the bigger Martian moon or from Mars itself.

☆ 'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya
▼ + stars: | 2023-04-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

"Crypto is dead in America," Palihapitiya said in the latest episode of the All-In podcast. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws. "You had Gensler even blaming the banking crisis on crypto," Palihapitiya said. The SEC has ramped up its enforcement of the crypto industry, bearing down on companies and projects that the regulator alleges were selling unregistered securities. In early 2021, Palihapitiya predicted on CNBC that bitcoin would rise from $39,000 at the time to $100,000 and then up to $200,000.

☆ 'Crypto is dead in America' as US regulators target the sector for threatening the establishment, Chamath Palihapitiya says
▼ + stars: | 2023-04-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Crypto is paying the price for challenging the establishment, Chamath Palihapitiya said. "Crypto is dead in America," the so-called SPAC King said recently on the All-In podcast. "Crypto is dead in America," Palihapitiya said. Recent examples of the SEC's enforcement efforts include a February proposal to stop investment advisors from trading in crypto, and the threat of legal action against a number of Coinbase products. Meanwhile, Palihapitiya also lamented the SEC's enforcement rationale, claiming that it is excessively targeting a company that has a history of being regulation-friendly.

☆ Fashionphile founder and CCO explains why that 'ludicrously capacious' bag from 'Succession' had a 310% spike in online searches
▼ + stars: | 2023-04-23 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Since "Succession" character dubbed this Burberry bag "ludicrously capacious," search for the brand has spiked. One of the show's central characters, Tom Wamsgans, scoffs at the luxury bag, describing it as "ludicrously capacious." Tom Wamsgans' comment about another character's "ludicrously capacious" bag in season four of "Succession" went viral. Macall B. Polay/HBOIn the weeks since the episode aired, searches for "Burberry tote bag" have jumped 310%, according to virtual fitting room company 3DLOOK, per Harper's Bazaar UK. Searches for "Burberry handbag" are up 180%, while "Burberry tote" increased 25%.

LONDON, April 20 (Reuters) - Major U.S. crypto exchange Coinbase Global Inc (COIN.O) has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto. Coinbase is planning to launch a crypto derivatives exchange in Bermuda as soon as next week, Fortune reported on Wednesday, citing a person close to the company. In March, derivatives trading volumes on major exchanges hit some $2.8 trillion, according to London researcher CCData, versus spot trading volumes of just over $1 trillion. Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity".

The tech company will begin its latest round of layoffs today, in its Facebook, WhatsApp, Instagram and Reality Labs units, according to Vox, with up to 4,000 positions possibly set to go. Disney will cut thousands of jobs next week, as part of the C.E.O. Commentators and investors said the moves were a long-awaited recognition that Goldman should focus on its strengths. The online chatboard company told The Times that it would start making others pay to use its application programming interface, the method that allows outside entities to download its vast offering of user discussions. projects by tech giants — which must be trained on huge amounts of data — as a reason for the move.

☆ Coinbase CEO says the crypto exchange is preparing to go to court with the U.S. SEC
▼ + stars: | 2023-04-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Last month, the SEC issued Coinbase with a Wells notice, which is often one of the final steps before the regulator formally issues charges. Brian Armstrong, CEO of Coinbase, called the issuing of the Wells notice "unfortunate" and said the company has not got any more information on the specific issues the SEC has. When asked by CNBC if Coinbase is prepared for a years-long battle with the SEC, Armstrong replied, "Absolutely." Brian Armstrong, CEO of Coinbase, slammed the U.S. Securities and Exchange Commission. Barclays said in a note this month that "regulatory overhang" on Coinbase's stock "increased meaningfully" when the SEC issued the Wells notice.

☆ Former Trump aide Anthony Scaramucci says Donald Trump is a 'family guy' who's just like Logan Roy — the ruthless patriarch in 'Succession'
▼ + stars: | 2023-04-06 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Former Trump aide Anthony Scaramucci likened his ex-boss to "Succession" patriarch Logan Roy. Scaramucci said Trump is a "family guy," and that Roy — like Trump — loves his kids. He has this love-hate relationship with his family," Scaramucci told MSNBC's Stephanie Ruhle. Brian Cox, who plays Roy, told Collider that the show's creator, Jesse Armstrong, has said that Roy does love his kids. Scaramucci isn't the first person who's likened the Trump family to the Roy family in "Succession."

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

☆ Energy demand in focus: Williams CEO on natural gas prices
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy demand in focus: Williams CEO on natural gas pricesAlam Armstrong, Williams CEO, joins CNBC's "Squawk on the Street" to discuss natural gas prices and what could boost the market.

☆ NASA to announce astronauts chosen for Artemis II lunar flyby mission
▼ + stars: | 2023-04-03 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

[1/6] People gather ahead of an event of NASA to announce the crew of the Artemis II space mission to the moon and back in Houston, Texas, U.S., April 3, 2023. REUTERS/Go NakamuraApril 3 (Reuters) - NASA plans on Monday to introduce the four astronauts for its Artemis II lunar flyby mission, set for launch as early as next year in what would be the first crewed voyage around the moon since the end of the Apollo era more than 50 years ago. The newly introduced crew will include the first Canadian astronaut for a moon mission, as well as three Americans from a pool of 18 NASA astronauts - nine women and nine men - selected for the Artemis program in 2020. They were the last of 12 NASA astronauts who walked on the moon during six Apollo missions starting in 1969 with Neil Armstrong and Edwin "Buzz" Aldrin. If Artemis II is a success, NASA plans to follow up a few years later with the programs' first lunar landing of astronauts, one of them a woman, on Artemis III, then continue with additional crewed missions about once a year.

Dividend stocks may be the way to go for investors as a recession becomes more likely, according to UBS. Dividend stocks on average outperformed the market by 4.5% during the 2001, 2008 and 2020 recessions, the bank said. "Dividend stocks can provide a margin of safety during uncertain times." Given this backdrop, UBS highlighted a slew of dividend stocks with big upsides, based on the bank's price targets. Analysts also forecast three-year dividend growth that's at least in the mid-single digits, in addition to sustainable payout ratios.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ McTominay fires Scotland to 3-0 win over Cyprus in Euro qualifier
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - UEFA Euro 2024 Qualifier - Group A - Scotland v Cyprus - Hampden Park, Glasgow, Scotland, Britain - March 25, 2023 Cyprus' Minas Antoniou in action with Scotland's Callum McGregor and Stuart Armstrong Action Images via Reuters/Ed SykesMarch 25 (Reuters) - Scotland beat Cyprus 3-0 in their first Euro 2024 Group A qualifier on Saturday after second-half substitute Scott McTominay grabbed a double at Hampden Park. The second half was a far less entertaining affair, however, as Scotland failed to build on their advantage. But Steve Clarke's substitutions eventually worked as McTominay doubled the lead in the 87th minute. McTominay then scored again in added time when Cyprus failed to clear a cross into the box, with Robertson laying the ball into the path of the midfielder to score. Scotland next play Spain on Tuesday when Cyprus visit Armenia.

☆ Coinbase CEO says SEC notice wasn't entirely unexpected
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoinbase CEO says SEC notice wasn't entirely unexpectedCoinbase CEO Brian Armstrong took to social media to respond to a notice from the SEC about a potential enforcement action.

Discussions between the SEC and Coinbase broke down in recent weeks, with one source saying the two sides had moved "further apart." The crypto industry believes it operates in a regulatory gray area not governed by existing U.S. securities laws - and that new legislation is needed to regulate the industry. "But if necessary, we welcome the opportunity for Coinbase and the broader crypto community to get clarity in court." Prior to Gensler's arrival, the SEC engaged in targeted enforcement, but the Democratic chair has ratcheted up focus on crypto platforms themselves. "There couldn't be a more significant development for crypto markets and crypto investors," said Philip Moustakis, former SEC enforcement lawyer and partner with Seward and Kissel LLP in New York.

☆ Fact Check-Interview clips do not show Buzz Aldrin saying moon landing was fake
▼ + stars: | 2023-03-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

An online video combining clips from three Buzz Aldrin interviews do not show him saying the first moon landing was faked, but users are sharing the video as though Aldrin “admits” that Apollo 11 did not land on the moon. An example of a tweet including the text “’Buzz Aldrin’ Admits the moon landing was FAKE!” can be seen (here). The moon landing took place on July 20, 1969, with astronauts Neil Armstrong and Buzz Aldrin emerging from the Apollo 11 Lunar Module and taking the first human steps on the lunar surface. Reuters has also previously debunked claims that the moon landing was faked (here), (here), (here). The spliced clips from interviews with Buzz Aldrin do not show him saying that the 1969 moon landing was faked or didn’t happen.

The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. "Based on discussions with the Staff, the Company believes these potential enforcement actions would relate to aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet," Coinbase said in a regulatory filing. A Wells notice is typically one of the final steps before the SEC formally issues charges. Coinbase described the investigation as "cursory," and said the Wells notice provided relatively little information about potential violations. The SEC sent a Wells notice to stablecoin issuer Paxos in February.

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