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LONDON, Aug 11 (Reuters) - U.S. hedge fund Davidson Kempner Capital Management (DK) said on Friday it had agreed to sell Prelios to fintech firm ION Group, in a long-awaited deal which two sources said valued the Italian credit manager at 1.35 billion euros ($1.5 billion). DK, which did not disclose the sale price, had been looking for a buyer for years, and held discussions for several months with ION. Dublin-based ION Group was in turn in talks with banks for months to secure funding for the deal. Founded by former Salomon Brothers trader Andrea Pignataro, ION Group provides services of trading, analytics, treasury and risk management for capital and commodity markets. In 2021 in Italy alone, ION bought banking software provider Cedacri for $1.8 billion and acquired Cerved in a deal that valued the credit data and management group at nearly 2 billion euros.

Persons: Salomon, Andrea Pignataro, UniCredit, Intesa, DK, Lazard, Prelios, Mediobanca, Goldman Sachs, Morgan Stanley, Riccardo Serrini, Valentina Za, Pablo Mayo, David Goodman, Susan Fenton Organizations: Davidson, Capital Management, ION Group, ION ., ION, Reuters, BNP, Banco, Standard Chartered Bank, Mediobanca, UBS, X3, DK, Thomson Locations: ION . Dublin, Italy

☆ Germany risks falling back into recession as car industry sputters
▼ + stars: | 2023-08-07 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year, potentially falling back into recession. The construction sector, where output shrank by 2.8%, also had a negative impact on overall industrial production, the country’s statistics office said Monday. “German industry remains in rough waters,” Salomon Fiedler, economist at Berenberg, said in a note Monday, noting last year’s energy price shock and weakness in US and Chinese demand, among other factors. Berenberg expects Germany to fall back into “a mild recession” in the second half of this year, Fiedler added.

Persons: “, ” Franziska Palmas, Jörg Krämer, Hildegard Müller, ” Salomon Fiedler, Fiedler, — Mark Thompson, Anna Cooban Organizations: London CNN —, Capital Economics, Auto, German Automotive Industry Association, Volkswagen Locations: Germany, Europe, China, Russia, Ukraine, “

That will leave investors guessing whether another rate hike is coming in September or if July marks the end of the ECB's fastest-ever tightening spree. While markets had fully priced in another rate hike just a few weeks ago, investors are now split, with many expecting July's move to be the last. "We see a 60% probability that the ECB will hike again by a final 25bp on 14 September," Berenberg's Salomon Fiedler said. "Softer data such as the drop in the Eurozone composite PMI indicate a rising chance that the central bank will stay put in September already." This is a key reason why the balance of expectations has started to shift away from another rate hike, with economists increasingly focusing on how long rates will stay high.

Persons: July's, Berenberg's Salomon Fiedler, Isabel Schnabel, Jerome Powell, Anatoli Annenkov, Christine Lagarde, Commerzbank's Marco Wagner, Catherine Evans Organizations: European Central Bank, ECB, PMI, U.S . Federal Reserve, Thomson Locations: FRANKFURT

☆ Chicago business executive and philanthropist Jim Crown killed in Colorado racetrack crash
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: +4 min

Crown, a grandson of industrialist Henry Crown and the chief executive of Henry Crown & Co., was involved in a single-vehicle accident at the Aspen Motorsports Park in Woody Creek, the Pitkin County coroner's office said in a news release. Crown's father, financier Lester Crown, said his son "was driving a race car, and it hit a wall going around a curve," the Chicago Sun-Times reported. "There never was a finer human being in every way," Lester Crown said. Crown's family business, Henry Crown & Co., invests in public and private securities, real estate, and operating companies. "The Crown family is deeply saddened by the sudden passing of Jim Crown in an accident earlier (Sunday)," his family said.

Persons: James, Jim Crown, Henry Crown, Lester Crown, Jim, Barack Obama, Michelle Obama, Brandon Johnson, Obama, Salomon, Lester, Renée Organizations: James Crown, University of Chicago, Chicago . Crown, Co, Aspen Motorsports, Chicago Sun, Times, Commercial Club of Chicago, Sun -, Chicago, Aspen Skiing Co, General Dynamics, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, President's Intelligence, Hampshire College, Stanford Law School, Salomon Brothers Inc, Capital Markets Service Locations: Chicago ., Chicago, Colorado, Woody Creek, Pitkin County, It's, Amherst , Massachusetts, New York

NEW YORK, May 16 (Reuters) - Ed Wehle, a senior Barclays Plc (BARC.L) technology banker, has resigned to join U.S. rival Citigroup Inc (C.N) in New York, according to an internal memo seen by Reuters, adding to an exodus of top investment bankers from the London-based bank. An investment banking veteran of nearly three decades, Wehle will join Citigroup as its global head of technology services, Mark Keene, Citigroup's global head of technology investment banking, wrote in the memo to employees on Tuesday. "Technology services complements Citi’s unparalleled global client position, and Ed will work closely with partners in Asia, EMEA and Latin America," said Philip Drury, global head of technology & communications banking, capital markets & advisory at Citi. He was previously head of global technology services banking at Barclays, which he had joined in 2018 from Deutsche Bank AG (DBKGn.DE). Reuters reported on Monday that at least seven top Barclays technology, media and telecommunications (TMT) bankers have resigned to join UBS Group AG (UBSG.S) in the U.S. in the last few days.

☆ Warren Buffett says American banks could face more turbulence ahead, but deposits are safe
▼ + stars: | 2023-05-06 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Buffett, when asked about the recent tumult that led to the collapse of three mid-sized institutions since March, launched into a lengthy diatribe about the matter. In the early 1990s, Buffett served as CEO of Salomon Brothers, helping rehabilitate the Wall Street firm's tattered reputation. The core problem, as Buffett sees it, is that the public doesn't understand that their bank deposits are safe, even those that are uninsured. Meanwhile, Buffett said that he keeps his personal funds at a local institution, and isn't worried despite exceeding the threshold for FDIC coverage. "The messaging has been very poor, it's been poor by the politicians who sometimes have an interest in having it poor," he said.

☆ How a Texas farm girl went from intern to CEO of a logistics startup with $53 million in funding before the age of 40
▼ + stars: | 2023-05-04 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

On the path from unpaid intern to CEO, Heather Salomon-Hoover wrote four resignation letters. And after nearly 18 years at the Texas delivery firm uShip, Salomon-Hoover officially became CEO Thursday. She's held 11 different positions at the company before CEO, including chief operating officer and interim CEO. That's a long way from uShip, which specializes in moving bulky, oddly shaped goods across town or across the country. I'm a first-time CEO, first-time board member, and for that I'm constantly looking to grow my mentorship base," she said.

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 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. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Magnitude 5.3 quake strikes Mexico, no major damage or injuries reported
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] People stand on the street during a quake alarm in Mexico City, Mexico, April 3, 2023. The epicenter of the quake was near the Pacific beach resort of Puerto Escondido, in southern Oaxaca state, according to the USGS. Shortly after the quake, Oaxaca Governor Salomon Jara wrote on Twitter that no damages had been detected in the state. In nearby Morelos, Puebla and Mexico City, authorities also ruled out damages. Reporting by Kylie Madry and Sarah Morland; Editing by Himani Sarkar and David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

☆ 'Business is very good, unfortunately': Arms fair spotlights bonanza year ahead for weapons companies
▼ + stars: | 2023-02-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Mohammed Zarandah | Anadolu Agency | Getty ImagesFew things illustrate the health of the arms industry like a massive defense fair. Indeed, many countries are ramping up their defense spending to unprecedented levels. On top of that, U.S. military spending on Ukraine alone hit nearly $50 billion in the last year. China and Saudi Arabia also set respective records for their own governments' defense spending in 2022, despite inflation, giving no indications of slowing down. France's Caesar self-propelled guns, which have been highly effective in battle for the Ukrainian military, normally take two years to make; the government aims to cut that time in half.

☆ Europe's natural gas prices fall below €50
▼ + stars: | 2023-02-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Europe’s natural gas prices have tumbled to their lowest level in nearly 18 months in the latest sign the region has avoided a much-feared energy crisis. Benchmark wholesale gas prices fell almost 5% Friday to hit €49 ($52) per megawatt hour, their lowest level since September 2021 and a fraction of the all-time high of €320 hit in August last year, according to data from Independent Commodity Intelligence Service. The plunge in prices will further reduce the risk of a recession in Europe. Gas stores across the European Union were 65% full on Thursday, according to Gas Infrastructure Europe, an industry body. The bloc has also boosted imports of pipeline natural gas from Norway, and of liquefied natural gas (LNG) — a chilled, liquid form of gas that can be transported via sea tankers — mostly from the United States and Qatar.

☆ Europe grew faster than the US last year. Its markets are outperforming too
▼ + stars: | 2023-02-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The overall rise is a reversal of a 15-year trend that has seen US stock indices, flush with fast-growing tech companies, consistently beat those across the Atlantic. Over the past decade, investors poured money into fast-growing tech stocks, aided by ultra-low interest rates. (SXXL)But tech companies have taken a beating recently. Tech companies, including Microsoft and Alphabet, announced thousands of layoffs last month. High interest rates make it more expensive for companies to borrow to expand their business, raising doubts about their future earnings.

☆ Sneaker resale platform StockX says it turned away $100 million in fake items in 2022
▼ + stars: | 2023-01-19 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

StockX says it rejected $100 million worth of counterfeit products from resellers in 2022. The resale marketplace said in its annual report that it recorded record revenues in 2022. Overall, the resale platform turned away over 330,000 fake items shipped by sellers for verification last year, according to its latest annual marketplace report. StockX currently inspects over 1 million items a month at its 13 authentication centers worldwide. Nike, Jordan Brand, Adidas, New Balance, and Converse once again were the top selling sneaker brands on the platform.

☆ Analysis: Bond traders get their swagger back in rate-obsessed markets
▼ + stars: | 2023-01-17 | by ( Lananh Nguyen | ) www.reuters.com time to read: +5 min

REUTERS/Andrew KellyNEW YORK, Jan 17 (Reuters) - Bond traders are stars again on Wall Street. Fixed income, currencies and commodities (FICC) traders bolstered bank profits last year despite dreary deal markets. Bond specialists in the $22 trillion Treasuries market are in high demand as the Federal Reserve and other central banks have aggressively raised interest rates over the past two years. After the financial crisis, central bankers in the United States and advanced economies steadied markets by holding interest rates near zero. On Tradeweb Markets Inc's (TW.O) electronic bond trading platforms, average daily volumes rose almost 10% in 2022.

☆ 6 sneaker trends to keep in 2023 and 2 to leave behind
▼ + stars: | 2023-01-06 | by ( Danni Santana | ) www.businessinsider.com time to read: +1 min

Pair performance shoes with casual wearHokas HOKA ONE ONEChunky performance shoes are now firmly part of casual wear. So expect to see more Hoka One One, Asics, On, and Salomon shoes on feet in 2023 in and out of the gym. "What's interesting is the brands are very performance focused. Another good example of this trend is the Salomon XT-6. "The Salomon XT-6 is a big shoe for 2023 for the simple fact that you get a nice, comfortable shoe that appeals to lots of different consumers, " Bryce Moore, a sneaker and fashion Youtuber, said.

☆ Stylists reveal 6 sneaker trends that are in and 2 that are out for 2023
▼ + stars: | 2023-01-06 | by ( Danni Santana | ) www.businessinsider.com time to read: +1 min

☆ Girl Scout mom kicked out of Radio City and barred from seeing Rockettes after facial recognition tech identified her
▼ + stars: | 2022-12-21 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +5 min

“I was just a mom taking my daughter to see a Christmas show,” she told NBC New York. It’s un-American to do this.”The Rockettes perform at Radio City Music Hall in New York in 2019. The spokesperson added that a sign outside Radio City Music Hall informs visitors that facial recognition technology is among the security measures it has in place. The company spokesperson called its policy “straightforward” and said attorneys at firms pursuing litigation against it are welcome at its venues once the litigation is resolved. New York court records show that there are more than 20 active lawsuits pending against MSG Entertainment and its properties in the state.

☆ Face Recognition Tech Gets Girl Scout Mom Booted From Rockettes Show — Due to Where She Works
▼ + stars: | 2022-12-20 | by ( Sarah Wallace | ) www.cnbc.com time to read: +4 min

The Radio City Rockettes perform onstage during the opening night of the 2019 Christmas Spectacular Starring The Radio City Rockettes at Radio City Music Hall on November 13, 2019 in New York City. Kelly Conlon and her daughter came to New York City the weekend after Thanksgiving as part of a Girl Scout field trip to Radio City Music Hall to see the Christmas Spectacular show. But while her daughter, other members of the Girl Scout troop and their mothers got to go enjoy the show, Conlon wasn't allowed to do so. They had identified and zeroed in on her, as security guards approached her right as he got into the lobby. "I was just a mom taking my daughter to see a Christmas show," Conlon told the I-Team.

Federal dollars are also not an option for reimbursement because regulations prohibit federal funds from being used to replace stolen SNAP funds. SNAP participants say they cannot wait that long after a month or more of stolen benefits plunged them into financial turmoil. Washington, D.C., also reimburses SNAP skimming victims. In the meantime, anti-hunger advocates say there’s no reason states can’t fill the gap for SNAP skimming victims. How states can helpCalifornia, one state that restores stolen benefits, has a law allowing state funds to be used that dates back to 2013.

Dozens of federal grand jury subpoenas have been issued in the past several months as part of the federal criminal investigation involving several people in New Jersey and the powerful Democratic chairman of the Senate Foreign Relations Committee, Bob Menendez, three people familiar with the matter told NBC News. Two people familiar with the matter said one of the entities involved in the investigation is IS EG Halal of Edgewater, New Jersey. According to a filing by Lustberg, federal agents seized cellphones, computers, tablets, USB drives, business documents, notepads, a photo album, $5,943 dollars in cash, jewelry and Hana’s passport. The court filings do not specify why federal investigators conducted the search, and NBC News could not confirm whether it was tied to the current investigation involving Menendez. Federal prosecutors decided in 2018 not to retry him.

WASHINGTON — Sen. Robert Menendez, D-N.J., is under federal criminal investigation by the U.S. Attorney's Office in Manhattan, according to two people familiar with the matter and a spokesperson for the senator. "Senator Menendez is aware of an investigation that was reported on today, however he does not know the scope of the investigation," Menendez’s adviser Michael Soliman said Wednesday in a statement. News of the investigation was first reported by the website Semafor. A spokesperson for the U.S. Attorney’s Office for the Southern District of New York declined to comment. He has served in the Senate since 2006 and previously served in the House.

☆ Credit Suisse's possible First Boston revival may face hurdles
▼ + stars: | 2022-10-26 | by ( Megan Davies | ) www.reuters.com time to read: +4 min

The source said Credit Suisse has been making efforts to reclaim the First Boston brand since retiring it years ago. It was unclear whether Credit Suisse would be happy to co-exist with the other First Boston brands. When contacted by Reuters, FirstBoston.net said via email that it was not affiliated with Credit Suisse and declined comment on whether Credit Suisse had contacted it. Another company with First Boston branding is First Boston Advisors, an investment banking advisory business previously branded as Methuselah Advisors. McShane said that reviving First Boston would probably see Credit Suisse "try and brush over that the brand was abandoned."

☆ In the war on recession, Uncle Sam wants YOU — to party, party, party
▼ + stars: | 2022-08-25 | by ( Desmond Lachman | ) www.businessinsider.com time to read: +8 min

Eventually the slowing demand spreads out across the economy: lower wages, higher unemployment rates, less consumer spending, and fewer homebuyers. This conventional view on the inevitability of a recession is highly plausible and should not be dismissed lightly. This soaring demand for goods coupled with crippled supply led to a shortage of goods — and sent prices soaring. And while concerns about the economy and the possibility of a recession have increased, people have kept spending. But as price inflation of goods cools, the shift to spending on services can keep the economy going.

☆ What it's like to circumnavigate Lesotho on foot -- in 16 days
▼ + stars: | 2022-06-10 | by ( Michelle Cohan | ) edition.cnn.com time to read: +12 min

They covered 1,100 kilometers (684 miles) with over 33,000 meters of elevation gain in 16 days, 16 hours and 56 minutes -- all under extreme weather conditions. The duo recently ran the entire border of Lesotho (pictured) in 16 days. Look through the gallery to see more of the world's most extreme foot races. Hide Caption 1 of 12 Photos: These are some of the most extreme foot races on Earth Everest: It's hard to imagine climbing Mount Everest -- let alone running it. Hide Caption 3 of 12 Photos: These are some of the most extreme foot races on Earth Iditarod Trail: Everest isn't the only cold-weather trail.

☆ Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway amid recession worries
▼ + stars: | 2022-04-28 | by ( Hugh Son | ) www.cnbc.com time to read: +5 min

In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTWarren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBCWarren Buffett has begun to unleash Berkshire Hathaway 's massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes in energy and computer corporations. Like another top Buffett industry — railroads — banks are part of the infrastructure of the country, a nation he continually bets on. (Watch the 2022 Berkshire Hathaway annual shareholders meeting live on Saturday, April 30 at 9:45 a.m. Despite the industry becoming significantly cheaper to own, Buffett reversed many of his wagers, unloading JPMorgan, Goldman and Wells Fargo.

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