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The capital raising, comprising a A$685 million 3-for-5 rights offer and a A$115 million institutional placement, will help Star repay debt and increase liquidity, the company said on Thursday. It had a net debt of A$1.11 billion as of end-2022. The shares in the capital raising are being sold at A$1.20 each, 21% below Star's latest closing price of A$1.52. Major shareholders Chow Tai Fook Enterprises and Far East Consortium (0035.HK) have taken up their rights entitlements and committed $80 million to the capital raising, Star said. Star shares are in a trading halt Thursday while the capital raising is underway.

☆ How cybersecurity executives make the case for continued tech investments in a tough economy
▼ + stars: | 2023-02-23 | by ( Bob Violino | ) www.cnbc.com time to read: +5 min

Cybersecurity executives have enjoyed a nice run of receiving the financial resources they need to keep their organizations protected against attacks. But given the current economic uncertainty, many will likely need to rethink their approach to investments in tools and services. "Cybersecurity is not immune to economic pressures and uncertainty," said Daniel Soo, risk and financial advisory principal in cyber and strategic risk at Deloitte. When prioritizing security investments, security leaders should continue to invest in security controls and solutions that protect the organization's customer-facing and revenue-generating workloads, Maxim said. They should continue to defend any investments that support the organization's modernization efforts with cloud and its evolution to zero trust security, he said.

The senior source familiar with Syrian government thinking said that the UAE role in persuading Assad should not be underestimated. A Syrian source close to the Gulf said the UAE had used its "soft power" on Assad and a Turkish official also said the UAE had played a part in persuading him. Moscow has tussled with Western states repeatedly at the Security Council over cross-border aid into Syria, arguing it violates Syria's sovereignty. Other Arab states, including U.S. allies, have also moved to normalise ties with Assad. The UAE official said there was an "urgent need to strengthen the Arab role in Syria".

☆ Explainer: A year into Ukraine war, how has China stood by 'no limits' partner Russia?
▼ + stars: | 2023-02-21 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

Here are the implications for China as the war approaches its one-year anniversary on Feb. 24. While China has repeatedly called for peace, President Xi Jinping has stood by his Russian counterpart Vladimir Putin, resisting Western pressure to isolate Moscow. China has sought to avoid providing support to Russia that would invite sanctions upon itself, including refraining from providing weapons. Beijing has repeatedly opposed any linkage between the Ukraine war and its intentions to "reunify" with the self-ruled island that it claims as its territory. "The result and the cost of the war show the Chinese that an invasion is Taiwan may not be prudent," said Sun.

☆ Chinese officials arrive in Taiwan on first post-pandemic visit
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +2 min

[1/4] Liu Xiaodong, Deputy Head of the Shanghai office of China's Taiwan Affairs Office and head of the delegation of Chinese officials visiting Taiwan, walks out of the arrival hall at Taipei Songshan Airport in Taipei, Taiwan February 18, 2023. REUTERS/Carlos Garcia RawlinsTAIPEI, Feb 18 (Reuters) - A group of Chinese officials arrived in Taiwan on Saturday on the first visit in three years, since the COVID-19 pandemic began, to attend a cultural event at a time of soaring military tensions across the Taiwan Strait. Taiwan's government this week allowed the trip of six officials, lead by Liu Xiaodong, deputy head of the Shanghai office of China's Taiwan Affairs Office, to attend the Lantern Festival in Taipei, at the invitation of the city government. Chilly Chen, head of the pro-independence Taiwan Republic Office, told Reuters the Taiwanese people were very hospitable and welcomed visitors but were concerned they were coming to push Chinese policies on the democratic island. But China continues to carry out military activities near Taiwan, including almost daily crossings of the Taiwan Strait's median line by Chinese air force jets, which had previously served as an unofficial barrier.

☆ StanChart’s takeover defences are getting stronger
▼ + stars: | 2023-02-16 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

This year, he reckons the bank will churn out a near-10% return, rising to more than 11% in 2024. But if Winters can convince investors his new targets are remotely plausible, he’ll have a stronger case for StanChart’s independence. A typical offer pitched 30% above the price before the latest takeover speculation would value StanChart at just three-quarters of forward tangible book value. StanChart’s stronger takeover defences may be a problem for its suitors. StanChart earned an 8% return on tangible equity (ROTE), excluding restructuring expenses and a writedown of goodwill on the bank’s balance sheet.

☆ Inside Tracy Anderson's cutthroat fitness empire: Legal threats, paranoia, and trainers who say their bodies were 'breaking apart'
▼ + stars: | 2023-02-16 | by ( Katie Warren | ) www.businessinsider.com time to read: +29 min

One day around 2015, a dozen or so gift boxes showed up at the Brentwood, California, studio of the celebrity fitness trainer Tracy Anderson. "It was an exclusive boutique fitness studio," the former New York trainer said. Darren Gerrish/WireImageThe method demanded that TA trainers, most of whom were also professional dancers, perform the strenuous workouts full out, every time. Let's help you do it correctly so you don't get injured,'" the former New York trainer said. "This is at a time where everyone is already overworked," one of the former New York trainers said.

Shunned by the West, Assad has been basking in an outpouring of support from Arab states that have normalised ties with him in recent years, notably the United Arab Emirates (UAE). On Tuesday, Saudi Arabia sent its first reported plane of aid to Assad-controlled Aleppo, a notable gesture from a Gulf state still at odds with Syria's president. 'BREAK THE SIEGE'The UAE has pledged $50 million in aid to Syria, without saying in which part of Syria it will be spent. Once a backer of Assad's foes, the UAE has been pressing other Arab states to re-engage with Damascus, according to two Gulf sources, despite opposition from its strategic ally the United States. Tunisia, which cut off ties with Syria a decade ago, has said it will strengthen relations with Damascus since the quake.

☆ A Googler laid off while on vacation found out when her colleague texted her, and said it made her feel like she was 'just a number'
▼ + stars: | 2023-02-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

An ex-Google recruiter says the company laid staff off like they were "just a number." Louise Coyne told Insider she was on paid leave when CEO Sundar Pichai announced Google was laying off 12,000 workers, or around 6.4% of its workforce, on January 20. "We've just left these people completely in the dark," Coyne told Insider. One software engineer who had been at Google for less than six months told Insider that the layoffs were a "rude awakening." He said he woke up when a colleague rang him to say he couldn't message him on Google's internal chat.

☆ A conversation with Shark Tank's Kevin O'Leary on ChatGPT and how to invest in artificial intelligence.
▼ + stars: | 2023-02-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Kevin O'LearyKevin O'Leary is the chairman of O'Leary Ventures, a media personality, and veteran investor. Kevin O'Leary: I'm looking at the ChatGPT deal right now from an equity perspective, deciding what allocation I want to put into it. Some of the biggest firms on Wall Street are warning their clients not to trust the stock market rally. This strategist said you can tell the stock market surge is out of steam because the dollar's no longer on the retreat. Make these undervalued investments now while the stock market rally unwinds after a red-hot jobs report.

"Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there's probably not a lot of pricing going forward." The clout Walmart holds over suppliers also means that Walmart would likely get the lowest percentage of any price hikes manufacturers implement, according to investors who track the company. In 2018, Walmart pulled Campbell Soup Co's (CPB.N) products during the key winter season over a dispute over prices and shelf space promotion. At the time, Tesco labeled Heinz's price hikes as "unjustifiable." After raising prices four times in 2022, he said, Clorox doesn't "have any additional plans" to hike prices this year.

☆ A global recession could be coming - at least that's what commodity prices seem to say
▼ + stars: | 2023-02-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Right now, the chief economist at the Institute of International Finance, Robin Brooks, is watching weakening commodity prices. Specifically, Brooks pointed out that oil and copper prices have slumped roughly 6% each since mid-January, despite China's easing of zero-COVID policies. "Whatever is going on in China, there's no sign that the end of zero-COVID is boosting global growth, based on commodity prices," Brooks said in a tweet. "Oil prices never went up and copper prices are falling after the initial China reopening excitement fades." He pointed to the sharp change in oil prices last week as an example of shallower liquidity.

☆ Frustrated Magic: The Gathering fans say Hasbro has made the classic card game too expensive
▼ + stars: | 2023-02-09 | by ( Travis Clark | Max Adams | ) www.businessinsider.com time to read: +6 min

Magic: The Gathering fans are upset with how much product Hasbro has been releasing. Some game shop owners have had to sell cards at a lower cost — meaning they lose money and Magic loses value. At this point, given the huge costs to keep up with the game, fans felt that they were rightly concerned that Magic was becoming a luxury hobby. Hasbro's Magic: The Gathering strategy has alienated a lot of longtime fans, LaGaccia said, which has left many game shops with unsold product. Some fans have moved on from Magic to other card gamesSome Magic: The Gathering fans have found alternatives.

☆ Hermès Wins Case Against Artist Who Sold NFTs of Birkin Bags
▼ + stars: | 2023-02-08 | by ( Erin Mulvaney | ) www.wsj.com time to read: +1 min

The Birkin bag has evolved into a coveted luxury item known for its steep price tag and exclusive wait lists. French luxury brand Hermès prevailed in a closely watched intellectual-property trial over an artist who created and sold nonfungible tokens depicting the company’s iconic Birkin handbag, a boost for companies seeking to protect their trademarks in the digital realm. After a weeklong trial, a federal jury in Manhattan on Wednesday awarded Hermès $133,000 in damages from Mason Rothschild, a self-described entrepreneur and artist. The company argued Mr. Rothschild was profiting unlawfully off the goodwill of its sought-after luxury product, with his actions pre-empting the company’s ability to offer products and services in virtual marketplaces. Mr. Rothschild in response said he was engaged in artistic expression protected by the First Amendment.

☆ Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more
▼ + stars: | 2023-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Uber — The ride-hailing app's shares rose more than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts' estimate of an 18 cent loss, Refinitiv data showed. This year's adjusted earnings guidance missed StreetAccount estimates. Fortinet — The cybersecurity company's shares rose 11% after it beat analysts' estimates in the most recent quarter by five cents a share, according to StreetAccount. Under Armour earned adjusted EPS of 16 cents vs a StreetAccount estimate of 9 cents.

☆ Putin's rumored girlfriend called Russia's media a 'military weapon' and compared its importance to an AK-47
▼ + stars: | 2023-02-07 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

Alina Kabaeva, Putin's rumored girlfriend, compared Russian media to a rifle and called it a "military weapon." A video of Kabaeva's speech at a recent National Media Group anniversary event was posted on Twitter Monday. According to Insider's translation of the video, Alina Kabaeva said Russian media is "like a military weapon and in its significance is in no way inferior to the Kalashnikov assault rifle. According to Newsweek, Kabaeva's speech was from a National Media Group anniversary event. During the event, Kabaeva asked NMG to "wish success to each one of us and all of us together" in their work.

☆ Hasbro 'continues to destroy customer goodwill' and the stock could crash 29% as it dilutes the value of Magic: The Gathering, Bank of America says
▼ + stars: | 2023-02-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Hasbro stock has 29% downside potential as it continues to dilute the brand value of Magic: The Gathering. That's according to Bank of America, who reiterated its "Underperform" rating on the stock in a Tuesday note. "Within its Wizards segment, Hasbro continues to destroy customer goodwill by trying to over-monetize its brands." According to BofA, Hasbro continues to over-monetize the brands within its Wizards segment, which includes Magic: The Gathering and Dungeons & Dragons. "Within its Wizards segment, Hasbro continues to destroy customer goodwill by trying to over-monetize its brands," Bank of America said.

☆ BNP investors deserve bigger slice of M&A windfall
▼ + stars: | 2023-02-07 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

He’ll give 4 billion euros to investors through share buybacks, which roughly cancels out the hit to BNP’s earnings per share from ditching the U.S. division. The other 7.6 billion euros, or two-thirds of the total haul, will pay for increased lending, investments in technology systems, and small acquisitions. Follow @liamwardproud on TwitterloadingCONTEXT NEWSBNP Paribas on Feb. 7 said it generated 50.4 billion euros of revenue in 2022, up 9% from the previous year. The French bank generated a 10.2% return on tangible equity in the year, slightly above the previous year’s 10%. BNP in 2021 agreed to sell BancWest to Canada’s BMO Financial for $16.3 billion in cash (15.2 billion euros).

The reaction in the United States to what appears to be an ill-timed spying mission will have lingering consequences for efforts to stabilize ties – already near historic lows. Since then, the Biden administration has said it hopes to build a "floor" for the relationship and ensure that rivalry does not spiral into conflict. The mood in China over the balloon was also glum. "Overall, I do think the Biden administration would like to reschedule, as there are many issues on the table and a real chance for a thaw. But the balloon incident probably means the thaw is postponed indefinitely," said RAND Corporation Indo-Pacific analyst Derek Grossman.

A bad credit score with FICO is below 670, while a bad VantageScore credit score is below 661. FICO breaks its risk categories into the following:Poor: Below 580Below 580 Fair: 580-669580-669 Good: 670-739670-739 Very good: 740-799740-799 Excellent: 800 and aboveUnder FICO, any credit score below 670 is considered a bad credit score or a subprime credit score. What's the Difference Between Having a Bad Credit Score and No Credit Score? That's why having no credit score is, in many ways, better than having a bad credit score because you're starting from a clean slate. Bad Credit Score Frequently Asked Questions (FAQ)What goes into credit score calculations?

☆ Illumina Makes Its Interim CFO Permanent
▼ + stars: | 2023-02-01 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Gene-sequencing company Illumina Inc. on Wednesday named Joydeep Goswami as chief financial officer, giving its interim CFO the role on a permanent basis. Mr. Goswami joined Illumina in 2019 as chief strategy and corporate development officer, overseeing strategic partnerships and acquisitions. Illumina CFO Joydeep Goswami. He added that he received a crash course in traditional areas of finance, including treasury, tax and audit, while serving as interim CFO. As CFO, Mr. Goswami plans to keep Illumina’s spending on innovation roughly constant as a percentage of revenue.

Jan 31 (Reuters) - Caterpillar Inc's (CAT.N) fourth-quarter earnings slid by 29%, the company reported on Tuesday, citing higher manufacturing costs and foreign currency effects that weighed on the industrial bellwether's margins. The Texas-based company noted that profit was also hit by a $925 million "goodwill impairment" charge and margin-eroding restructuring costs. Strong pricing that the company implemented over the past two years in an effort mitigate rising manufacturing costs have sustained top-line growth. Caterpillar's sales and revenue for the quarter rose 20% to $16.6 billion despite weaker sales in the Asia Pacific region. Operating profit rose 4% to 1.7 billion while free cash flow from the ME&T division came in at $5.8 billion.

☆ Despite an unwarranted share slide, industrial powerhouse Caterpillar delivers a solid Q4
▼ + stars: | 2023-01-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Moreover, breaking the top line down, consolidated sales growth is attributable to solid double-digit growth in all three primary operating segments. That's in line with our mantra of owning companies that do things, make stuff, and generate real profits and cash flow that will be returned to investors. Excluding China, management expects growth in the Asia/Pacific region "due to public infrastructure spending and supportive commodity prices." Energy & transportation: Management predicts "sales growth due to strong order rates in most applications," citing "strength in demand in order intakes for the year." Caterpillar generated full-year free cash flow of $5.8 billion and returned a total of $6.7 billion to shareholders via share repurchases and dividends.

☆ Analysis: Renault cedes power at Nissan for uncertain benefits
▼ + stars: | 2023-01-30 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

[1/2] The Nissan logo is seen on a car wheel at Nissan Gallery in Yokohama, Japan November 29, 2021. REUTERS/Androniki ChristodoulouPARIS, Jan 30 (Reuters) - Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. The deal, months in the making and still subject to board approvals, will see Renault (RENA.PA) reduce its stake in Nissan to 15% from around 43%. The deal sees Nissan commit to invest in Renault's flagship Ampere electric vehicle unit, which was the French group's key goal. "It is interesting for Renault to see Nissan enter Ampere, if only for financing projects.

Jan 27 (Reuters) - Rick Astley has sued the rapper Yung Gravy over a song that borrowed heavily from the British singer's signature "Never Gonna Give You Up," claiming that the new song illegally used an impersonator who imitated Astley's distinctive baritone. "In an effort to capitalize off of the immense popularity and goodwill of Mr. Astley, defendants ... conspired to include a deliberate and nearly indistinguishable imitation of Mr. Astley's voice," the complaint said. Among the defendants are Yung Gravy, whose real name is Matthew Hauri, and his record label, Universal Music Group's (UMG.AS) Republic Records. Universal and a representative for Yung Gravy did not immediately respond to requests for comment. The song saw resurgent popularity about two decades later through the "Rickroll" internet meme, where it unexpectedly interrupts unrelated content.

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