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☆ Couple finds rare coins worth over $800,000 while renovating their kitchen floors
▼ + stars: | 2022-10-17 | by ( Ronnie Koenig | Joyann Jeffrey | ) www.nbcnews.com time to read: +3 min

A couple in England had the surprise of a lifetime when they discovered a stash of rare coins underneath the kitchen floorboards during a renovation project. The haul of rare coins were recently sold at auction for $852,380 against a provisional sale estimate of $231,390. According to The Yorkshire Post, the coins have been linked to a Hull merchant family, the Maisters. Spink and SonHe explained that while it’s ordinary for rare coins to be sold at auction, the unique history of these coins and their amazing discovery made the sale extraordinary. Still, he hopes that it won’t cause people to start renovating their homes in hopes of making a similar discovery.

☆ Someone just paid over $39,000 for a 15-year-old iPhone—more than 50 times its original price
▼ + stars: | 2022-10-17 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

That's how much the bidder paid this weekend for a factory-sealed model of the first-edition iPhone — their winning bid topped out at $39,339.60. The 8GB smartphone was sold by LCG Auctions on Sunday. Steve Jobs first unveiled the original iPhone in 2007, and Apple quickly sold millions of units. In addition to the 8GB of storage the phone also featured a 2-megapixel camera. For context, the base model of the recently-released iPhone 14 has 128GB of storage and sports a 12-megapixel main camera with an ultra wide lens.

The spin-out structure would make it easier and faster for Kroger and Albertsons to divest stores if they cannot easily sell them outright, people familiar with the arrangement said. The companies may struggle to find many buyers because Albertsons' stores are unionized, making them less attractive to potential bidders such as private equity firms. Kroger and Albertsons are likely to shed their least profitable stores and keep the best ones to themselves, analysts said. That region contains the most store-overlap between Kroger and Albertsons and is where divestitures are most likely, according to analysts. They intend for the spun-off company to not carry any debt, the sources added.

☆ Handicapping whether the stock market is at a turning point after Thursday's upside reversal
▼ + stars: | 2022-10-15 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

We can at least run through what we know about this market and how market cycles tend to unfold more generally. Fewer individual S & P 500 stocks made a new 52-week low than in mid-June even as the index itself undercut the June low, a modest positive glimmer. The prior extreme lows on this chart were near noteworthy market lows, if not always right at them. The Stock Trader's Almanac notes that of the 23 S & P 500 bear markets since World War II, seven ended in October. The S & P 500 has failed in four tries of since late August even to get above the short-term 20-day moving average, most recently on Friday.

☆ NFL Sunday Ticket still up for grabs as Apple pushes for flexibility with game rights
▼ + stars: | 2022-10-14 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

A partnership with Apple would allow the NFL to build a relationship with the deepest-pocketed company in the world. But existing restrictions around Sunday Ticket have slowed negotiations between Apple and the NFL in recent months, according to people familiar with the matter. The NFL and Apple, two of the most powerful corporate entities in the world, are used to getting what they want. "We weren't interested in buying sports rights," Cue said this week at a Paley Center for Media panel in New York. Those deals guarantee exclusivity of local games.

☆ Cramer shares personal stories about the perils of market timing: You must be right twice
▼ + stars: | 2022-10-13 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Do we stay in the stock market, or do we fold? Market timing is a fool's game because you have to know when to get out and then you have to know when to get back in. Three days later, the stock market crashed. Sure, in 1987 it was the mechanics of the stock market and the economy was fine. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Proptech startup founders and VCs dissect the overwhelming sense of doom about raising capital right now: 'Some folks are feeling that it's really, really bad'
▼ + stars: | 2022-10-12 | by ( Jordan Pandy | Alex Nicoll | ) www.businessinsider.com time to read: +6 min

Founders fear the worst is yet to comeNaturally, proptech founders are worried. But proptech founders say they have additional concerns. Warburg Peters and other VCs who spoke with Insider encouraged founders to find partners beyond the investor offering the biggest check. Clelia Warburg Peters. Clelia Warburg Peters"In a funny way in 2021, they would just take the best check," Warburg Peters said of founders.

Buying other companies is one option to help maintain its historical 20%-plus annual revenue growth, a person familiar with Amazon's deal process said. While Amazon doesn't necessarily prey on companies in trouble, the company is extremely price disciplined, the person familiar with Amazon's deal process told Insider. Bertucci has been a part of some of Amazon's largest transactions, including leading the MGM and One Medical deals. According to the person familiar with Amazon's deal process, Amazon only brings in investment banks when acquisitions reach roughly the $1 billion mark. Indeed, the One Medical deal alone could have netted Goldman and Morgan Stanley, which repped One Medical, in the tens of millions in fees.

☆ Parties bidding for TIM's grid want more time for talks
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

Italy's state lender CDP is readying a preliminary offer for TIM's landline grid as it pursues plans to create a single broadband company with smaller rival Open Fiber, in which it is the largest shareholder. Macquarie (MAQ.AX), which has a minority stake in Open Fiber, is also expected to join the bid. Valuation issues have also been a stumbling block in negotiations between TIM and CDP. TIM's top investor Vivendi (VIV.PA) is looking for a valuation of 31 billion euros ($30.06 billion) to back a sale of the grid with the prospect of a merger with Open Fiber, a source familiar with the French media group had said. CDP values Telecom Italia's landline grid in the region of 20 billion euros including debt, sources had previously said.

☆ Twitter’s future isn’t just Elon Musk’s problem
▼ + stars: | 2022-10-06 | by ( John Foley | ) www.reuters.com time to read: +6 min

Buying Twitter is financially onerous, too, but compared with buying a bank, it’s pretty simple stuff. Social media companies, conversely, are a place where people tweet poop emojis and exchange cat GIFs. Congress isn’t blind to the legal vacuum in which large social media companies operate. But while politicians squabble, social media continues to shape society in ways that may only become apparent years later. In a tweet later that day, the Tesla chief said that buying Twitter would accelerate the creation of X, an "everything app."

☆ The idea of Jeff Bezos 'scared' me away from trying to buy the Phoenix Suns, says Shaquille O'Neal
▼ + stars: | 2022-10-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

The idea of bidding against the second-richest person in the world is understandably intimidating, even if you're legendary former NBA big man Shaquille O'Neal. O'Neal, a 7-foot-1 Hall of Famer, says Bezos' massive net worth "scared" him away from his plans to make a bid for ownership of the NBA's Phoenix Suns. "Nobody on this planet can compete with Big Man JB," O'Neal told TMZ Sports on Saturday, referring to Bezos, adding: "Because you know what? Bezos is one of multiple billionaires reportedly considering a bid for the Suns, according to ESPN. The Suns franchise is currently worth $1.8 billion, and could reportedly sell for at least $2.5 billion, according to a recent Forbes report.

☆ Blackstone, Apollo brace for deteriorating commercial real estate market that one analyst says could lose 30% of its value
▼ + stars: | 2022-09-29 | by ( Kelsey Neubauer | Alex Nicoll | ) www.businessinsider.com time to read: +8 min

Year-over-year price growth has already slowed for commercial properties, signaling souring outlooks that could reduce values by 20 to 30%, the strategists wrote in a report. Executives at the Bisnow event pointed to high rents on multifamily properties, though growth is softening. Yardi"If this doesn't clear the market, then I don't know what does," Marcus said of her multifamily properties, which she described as large and relatively new. Andrew Holm, a cohead of US investments at Ares, the owner of more than $50 billion in commercial real estate, is hunkered down for the long haul, however. At the Bisnow event, he was so bearish on commercial real estate that he struggled to name a single sector that might be attractive over the next six months.

☆ Home cheat home: How real-estate agents are ripping off homebuyers
▼ + stars: | 2022-09-28 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +20 min

The other day, Linda, the real-estate agent whom my wife and I used to buy our home, called me out of the blue. Real-estate agents, like doctors, are the friendly, knowledgeable face of a bewildering, price-gouging system. If Americans paid the same rate as the British, they would save more than $72 billion a year in real-estate commissions. The potential for big money, in turn, has led more and more Americans to become real-estate agents. Every dollar that is paid out in a real-estate transaction — to sellers, agents, inspectors, insurers, and the IRS — comes from you, the buyer.

☆ CVC’s burial business bets on lively market growth
▼ + stars: | 2022-09-27 | by ( Jennifer Hughes | ) www.reuters.com time to read: +4 min

A pitch for a growing business in an under-penetrated market is different though. Growth will have been disrupted by the effect of pandemic lockdowns on the ability of Nirvana’s sales force to canvas for new business. That’s just above the rate cited by FWD for the Malaysian life insurance market and would be a more reasonable level. Bidders have entered a second round for the business, which specialises in selling pre-need premium products such as family plots in burial grounds. Nirvana Asia went public in Hong Kong in 2014.

☆ Christie's launches 'Department X' as collectible sneakers and street-wear boom
▼ + stars: | 2022-09-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Christie's is launching a new department to capitalize on the booming market for collectible sneakers, streetwear and sports history. The auction house on Monday announced its Department X, giving Air Jordans and Supreme skate decks their own category, alongside Impressionist & Modern Art and Old Masters. "When looking at the auction world and the way collectors are evolving and the new collectors coming into the marketplace, we felt this is a strong a robust marketplace," said Caitlin Donovan, Christie's head of Handbags, Streetwear and Sneakers, who will head Department X. Department X will sell rare collectibles across music, fashion, art and sports history, but sneakers and streetwear will be among its biggest categories. In June, Christie's held a "Six Rings − Legacy of the GOAT" sale dedicated to basketball legend Michael Jordan's career, with sales nearing $1.5 million.

☆ Bank of Cyprus bid makes case for lender buyouts
▼ + stars: | 2022-09-22 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

Lone Star’s roughly 700 million euro offer for Bank of Cyprus (BOCH.CY) shows that the sector may have reached such a level in Europe. Chief Executive Panicos Nicolaou churned out a respectable 7.3% return on tangible equity (ROTE) in the first half of 2022, excluding one-off charges. That helps explain why the bank has rebuffed three offers from U.S. fund Lone Star, the last of which valued it at almost 0.4 times tangible equity. Even if Bank of Cyprus hits that lower number, a fair valuation might be closer to 0.8 times tangible equity, or around 1.3 billion euros – double Lone Star’s offer. In making the case for bank buyouts, Lone Star may be doing the whole sector a favour.

☆ Greece gets two binding bids for Alexandroupolis port
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +2 min

ATHENS, Sept 22 (Reuters) - Greece received two binding bids for a majority stake in its northern port of Alexandroupolis, the country's privatisations agency HRADF said on Thursday. The bidders for a 67% stake in the port were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna (HRMr.AT), the agency said in a statement. Register now for FREE unlimited access to Reuters.com RegisterThe bidders were among four investors that had been shortlisted last year for the sale. In a separate announcement after unsealing their bids on Thursday, the agency said it has asked all three bidders to raise their offers. Register now for FREE unlimited access to Reuters.com RegisterReporting by Angeliki Koutantou; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

The likely purchase of the new asset and the $3 billion valuation of the toll road business has not been reported previously. Representatives from Road King did not respond to requests for comment. CVC and Road King's attempts to monetise the toll road business comes at a time of growing global investor interest for infrastructure assets, driven by sovereign, pension and private equity funds chasing long-term returns. Road King, a Chinese property developer, has operated expressways in the country since nearly three decades. It diversified into the Indonesian toll road business in 2019 and its expressways in China and Indonesia span over 600 kilometres in total, according to the company's website.

The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas/File PhotoLONDON/MADRID, Sept 21 (Reuters) - Spanish bank Sabadell (SABE.MC) has received indicative bids from France's Worldline (WLN.PA), Italy's Nexi (NEXII.MI) and U.S. firm Fiserv (FISV.O) for its payments arm, with a deal valued at up to 400 million euros ($393.64 million), three sources said. Register now for FREE unlimited access to Reuters.com RegisterSabadell, Worldline, Nexi and Fiserv declined to comment. In Spain, Sabadell has a strong presence on the payments front and accounts for close to 16.3% of the country's overall revenue generated at the point of sale (POS). Its payments arm, which is mainly focused on consumer lending, has core earnings of about 25-30 million euros, one of the sources said.

☆ Bank of Italy clears Benetton-Blackstone's bid for Atlantia
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

The logo of Italian infrastructure group Atlantia is seen outside its headquarters in Rome, Italy, October 5, 2020. REUTERS/Guglielmo Mangiapane/File PhotoMILAN, Sept 21 (Reuters) - The Bank of Italy has cleared a multi-billion euro buyout bid for infrastructure group Atlantia (ATL.MI) proposed by the Benetton family and U.S. fund Blackstone , the two bidders said in a statement on Wednesday. read moreThe bid heralds a new phase for Atlantia which sold its domestic motorway unit earlier this year to draw a line under a political dispute sparked by a deadly bridge collapse in 2018. The Benetton family, which already owns 33% of Atlantia, and Blackstone need to get the final go ahead from Italy's market watchdog Consob before they can launch the bid on the stock market. The proposed bid needed Bank of Italy's greenlight because the central bank oversees some activities of Atlantia's digital toll payment unit Telepass.

☆ How the creators of 'The Starters' built a hit NBA podcast for The Athletic after losing their TV show
▼ + stars: | 2022-09-19 | by ( Colin Salao | ) www.businessinsider.com time to read: +7 min

"No Dunks'' is an NBA podcast from the creators of "The Basketball Jones" and "The Starters." In 2019, after their NBA TV show contract ended, the creators signed a deal with The Athletic. The quintet is a far cry from the 20-man team and TV studio that Turner Sports' NBA TV provided during their six-year run with the network. How 'The Starters' became 'The Free Agents'"The Starters" got off in 2013 to a rough start on NBA TV as they struggled to translate their hour-long podcast to TV. Wasserman said the show is The Athletic's biggest NBA podcast and one of its highest-rated out of 77 podcasts.

☆ NASA chief says everyone 'poo-pooed' Elon Musk's SpaceX when it was pitted against Boeing but it's had more successful launches
▼ + stars: | 2022-09-13 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

NASA's Bill Nelson told Newsweek that critics "poo-pooed" SpaceX when it was bidding for the agency's crew programs. NASA has awarded SpaceX 14 missions and Boeing six missions. "When there was the beginning of the space cargo and crew [programs], the two serious bidders were SpaceX and Boeing, and everybody poo-pooed SpaceX and said, 'Oh, Boeing is a legacy company,'" Nelson told Newsweek. Nelson's comments follow the second launch attempt for NASA's Space Launch System (SLS) being delayed in early September because of a liquid hydrogen leak. Although NASA has contracted SpaceX for 14 missions, the agency has previously said that the company's plan to send another 30,000 Starlink satellites into orbit could create "substantial congestion."

☆ Jim Cramer's Guide to Investing: Principles to help you manage your portfolio
▼ + stars: | 2022-09-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +40 min

At the CNBC Investing Club, we strive to help members manage their own portfolios by showing them how we do it. Principles 1-5 Principles 6-10 Principles 11-15 Principles 16-20 Principles 21-25 1. The reality is, you want to buy stocks that you believe will go higher, and sell those you believe will go lower. Don’t buy all at once; arrogance is a sin Accept that you will never be correct 100% of the time and use that knowledge to your advantage. Expect corrections; don’t be afraid of them When it comes to the stock market, eventually a correction will happen.

The Hong Kong billionaire is offering $240 million to buy out minority shareholders in Caymans-registered Lifestyle International (1212.HK), his department store chain. Several Hong Kong tycoons have fallen foul of the notorious tests, which the Cayman Islands will scrap at the end of this month. Hong Kong dropped the rule in 2014, but is home to just 8% of the city’s listed companies. Lifestyle is domiciled in the Cayman Islands, which at the end of August will drop a requirement for the so-called headcount test. Almost 60% of primary-listed Hong Kong companies are domiciled in the Caribbean tax haven.

☆ Musk gets Twitter for $44 billion, to cheers and fears of 'free speech' plan
▼ + stars: | 2022-04-26 | by ( Greg Roumeliotis | ) www.reuters.com time to read: +6 min

Musk’s move continues a tradition of billionaires' buying control of influential media platforms, including Jeff Bezos’ 2013 acquisition of the Washington Post. [1/2] Elon Musk twitter account is seen through Twitter logo in this illustration taken, April 25, 2022. Musk, who is worth $268 billion according to Forbes, has said he is not primarily concerned with the economics of Twitter. The White House declined on Monday to comment on Musk's deal, but said President Joe Biden has long been concerned about the power of social media platforms. "The president has long talked about his concerns about the power of social media platforms, including Twitter and others, to spread misinformation."

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