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☆ Meet the climate startup turning a 5,000-mile stretch of seaweed from a plague of coastal communities into a giant carbon store
▼ + stars: | 2023-05-24 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +8 min

London-based Seaweed Generation is one such startup dedicated to seaweed sequestration. She's part of a wave of new "blue economy" entrepreneurs taking advantage of seaweed for carbon removal. Seaweed GenerationThe seaweed RoombaEstridge's Seaweed Generation has developed a robot that she described as a "Roomba meets Pac-Man." Seaweed Generation will work in waters with around 4,000 meters of depth and no upwelling current, which could bring sargassum back to the surface. Seaweed Generation has a planned pilot with the government of Antigua, which is invested in protecting its tourism industry.

LONDON, May 18 (Reuters) - Credit Suisse (CSGN.S) came close to falling below minimum levels of cash held at the Swiss central bank days before its forced takeover by UBS (UBSG.S), a regulatory document shows. As of mid-March 2023, Credit Suisse barely reached its internal cash limit at the Swiss National Bank. Credit Suisse was forced into a government orchestrated rescue on March 19. FINMA and Credit Suisse declined to comment. FINMA stated in the decree that a viability event occurred and that Credit Suisse could therefore wipe out the instruments.

☆ The crew of a sanctioned super yacht have been playing 'Call of Duty' in the master suite and swimming in the infinity pool
▼ + stars: | 2023-05-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A sanctioned superyacht is racking up about $112,000 per month in crew costs, Bloomberg reported. The crew have been on the vessel for over a year and have reportedly taken to playing "Call of Duty." Over the past year, Alfa Nero's crew have tried to find ways to pass time while the ship remains stuck. Bloomberg reported that the crew have taken to playing "Call of Duty" and other PlayStation games in the ship's master suite. The crew — which has dwindled from 44 to 6 people — will also sometimes swim in the yacht's infinity pool, Bloomberg said.

☆ Veracruz state: Home of the flying Voladores, Mexico's top coffee and more
▼ + stars: | 2023-04-29 | by ( Tim Leffel | ) edition.cnn.com time to read: +8 min

The Voladores of Veracruz in Mexico have a history that goes back at least 1,400 years. “The flying ritual has never had a learning age, it is a project of a lifetime,” he says. Nearly all of the Voladores train in or around Papantla, where the flying schools prepare young people to take over for those who are eventually aging out. Coffee, ancient ruins and an overlooked capital cityMen with ankle ropes flying deftly around a pole are not the only export from this state, though. The big draw, however, is Mexico’s second most important archaeological museum after the one in Mexico City.

☆ Jamaica cool on Charles' coronation as it eyes break with monarchy
▼ + stars: | 2023-04-26 | by ( Kate Chappell | ) www.reuters.com time to read: +7 min

The process to sever ties with the British monarchy is underway, following in the footsteps of another former Caribbean possession, Barbados. Maziki Thame, a political scientist at the University of the West Indies, agreed the coronation was of little significance. It gained independence in 1962 but retained the British monarch as head of state and stayed in the Commonwealth. Breaking ties with the monarchy is essential for Jamaica, said Steven Golding, president of the UNIIA-ACL, a Black nationalist organization founded in Jamaica by activist Marcus Garvey. "I'd like to hear what Charles has to say about the subjects in the Isle of Jamaica," she said.

☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
▼ + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.

☆ Billionaire founder of Paul Mitchell and Patron invests in man-made coral reefs
▼ + stars: | 2023-04-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Coral reefs, often called the "rainforests of the sea," support roughly 25% of all known marine species. And the planet has lost half its coral reefs since the 1950s due in large part to climate change. The annual value of U.S. commercial and recreational fisheries dependent on coral reefs is $200 million. Brosnan has been studying coral reefs for more than 25 years, with a specific focus on the Caribbean. So right now today, we lose more coral reefs in a day than we can restore in a decade."

☆ Antigua wants to quickly auction off an 'abandoned' superyacht linked to a Russian oligarch after it ran up a $500,000 bill for fuel and food
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Antigua and Barbuda government has declared the Alfa Nero super yacht abandoned. Authorities intend to use the money to pay down a $500,000 fuel bill owed to the Antigua Yacht Club Marina. The authorities intend to use the yacht's sale proceeds to pay down a $500,000 debt it owes to the Antigua Yacht Club Marina for fuel, per Daily Observer. He added the Alfa Nero could also be uninsured and this could cause issues for the harbor. The US Department of the Treasury has linked the Alfa Nero super to Guryev, who the department said is a "close associate" of President Vladimir Putin.

☆ Antigua and Barbuda is preparing to auction off an 'abandoned' $81 million superyacht linked to a Russian oligarch, reports say
▼ + stars: | 2023-03-08 | by ( Marielle Descalsota | Kate Duffy | ) www.businessinsider.com time to read: +2 min

An $81 million superyacht linked to a Russian oligarch is reportedly set to be auctioned off. The 81.2-meter Alfa Nero has been linked to Russian chemicals magnate Andrey Guryev. An Antigua and Barbuda government minister reportedly said the "abandoned" yacht risks becoming a "hazard." The 81.2-meter Alfa Nero was built by Oceanco and can accommodate 12 guests in six staterooms and 28 crew, according to Boat International. The Treasury department said in August that the Alfa Nero was a "blocked property" of Guryev's, and that he reportedly bought the yacht for $120 million in 2014.

☆ Premarket stocks: Bad sign for stocks: Bond yields are white hot again
▼ + stars: | 2023-02-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

The recent global bond rally appears to be tapering off as investors are getting a cold wet dose of reality about Fed rate hikes. Bonds compete with stocks for investors’ dollars, and when yields go up, equities often go down. That tonal shift has sent stocks lower and Treasury yields higher, as investors rethink their views on the path of interest rates. The Federal Reserve’s efforts to date to bring down inflation while maintaining a strong labor market appear achievable, she added. “As a result, although Fed rate hikes could slow the labor market in the coming months, we think labor supply faces persistent headwinds in the longer run.”

Feb 27 (Reuters) - Three banks agreed to pay $1.35 billion to resolve litigation by former Allen Stanford investors who accused them of contributing to the imprisoned financier's massive Ponzi scheme. Canada's Toronto-Dominion Bank <TD.TO> will pay $1.205 billion, HSBC Holdings Plc (HSBA.L) will pay $40 million and Independent Bank Group Inc (IBTX.O) , formerly Bank of Houston, will pay $100 million. They avert a trial that had been scheduled for Monday in Houston federal court, where TD, HSBC and Independent Bank were the last remaining defendants. Two other defendants, France's Societe Generale SA (SOGN.PA) and Mississippi-based Trustmark Corp (TRMK.O), settled for a respective $157 million and $100 million earlier this year. Independent Bank expects to recognize a $100 million first-quarter expense for its settlement, a regulatory filing shows.

☆ TD Bank reaches $1.2 billion settlement in Ponzi scheme lawsuit
▼ + stars: | 2023-02-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —TD Bank will pay $1.2 billion to settle a lawsuit alleging its involvement in an infamous $7 billion Ponzi scheme orchestrated by disgraced financier Allen Stanford more than a decade ago. The lawsuit claimed TD Bank collected these deposits in US and Canadian dollar values and continuously ignored red flags about the Antigua-based bank over the years. “TD provided primarily correspondent banking services to Stanford International Bank Limited and maintains that it acted properly at all times,” the bank said. Additionally, HSBC will pay $40 million and Independent Bank, formerly Bank of Houston, will pay $100 million, the receivership’s counsel confirmed. Societe Generale reached a settlement of $157 million and Trustmark agreed to pay $100 million earlier this year.

☆ She's visited 63 countries by herself — and now coaches others on how to travel solo
▼ + stars: | 2023-02-23 | by ( Lucy Handley | Chris Dwyer | ) www.cnbc.com time to read: +7 min

She's visited 63 countries alone, she said, and now coaches others on how to go solo. She said people enjoy solo travel because they don't need to take anyone else's interests into account. Group toursGroup tours are another popular option for solo travelers. It has added more single-occupancy cabins with no single supplement, which are extra fees that solo travelers are sometimes charged to stay in a room by themselves. Solo travel tipsHoffman offered advice for people who are traveling alone.

Feb 21 (Reuters) - Societe Generale SA (SOGN.PA) agreed to pay $157 million to settle a lawsuit accusing the French bank and several other banks of contributing to imprisoned Ponzi schemer Allen Stanford's estimated $7.2 billion fraud. The payout was disclosed on Tuesday in a filing in Houston federal court, and requires a judge's approval. Societe Generale denied wrongdoing, and settled to avoid the burden, "very substantial expense" and risk of litigation, settlement papers show. The banks have denied wrongdoing, saying they provided routine services to Stanford's bank and did not know about his fraud. Another bank, Mississippi-based Trustmark Corp (TRMK.O), reached a $100 million settlement of similar claims.

The Justice Department said Wednesday that has moved to seize millions of shares of Robinhood, the popular stock-trading app, whose ownership is disputed by several parties, including Bankman-Fried himself, his bankrupt crypto exchange FTX and another bankrupt crypto company. Four separate entities have laid claim to the approximately 56 million shares, worth about $460 million. That company, Emergent Fidelity Technologies, borrowed more than $546 million from crypto hedge fund Alameda Research, according to an affidavit Bankman-Fried filed in December. Also claiming the Robinhood shares are bankrupt crypto lender BlockFi and an individual FTX creditor. As of December 31, roughly $150 million of Silvergate’s deposits were from customers that have filed for bankruptcy.

☆ Sam Bankman-Fried's $470 million Robinhood stake is set to be seized by US authorities, attorney says
▼ + stars: | 2023-01-05 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's Robinhood shares are set to be seized by US authorities, an attorney said Wednesday. Bankman-Fried, FTX's new bosses, bankrupt crypto lender BlockFi and FTX creditor Yonatan Ben Shimon have all laid claim to the Robinhood stake, per a December 22 court filing. Bankman-Fried disclosed a 7.6% stake in Robinhood in May, acquiring 56.3 million shares in the trading platform for $648 million through an Antigua-based holding company called Emergent Fidelity Technologies. Robinhood shares traded at $8.36 as of Wednesday's closing bell – meaning that Emergent's position is now worth just over $470 million. Read more: Sam Bankman-Fried is facing off against FTX's new bosses in a 4-way battle for $450 million of Robinhood shares

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew KellyJan 4 (Reuters) - U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc (HOOD.O) tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. The Robinhood stock, worth about $465 million at Wednesday's late afternoon price of $8.30 per share, is also being claimed by BlockFi Inc, another bankrupt crypto firm. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

[1/3] The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 million, were property of a bankruptcy estate, U.S. attorney Seth Shapiro told U.S. Bankruptcy Judge John Dorsey, who is overseeing the FTX bankruptcy. Bankrupt crypto firm BlockFi, FTX and liquidators in Antigua have all laid claim to the Robinhood stock, along with Bankman-Fried. He said the Robinhood shares were subject to litigation and it was an "open question" about who owns them. BlockFi is suing Emergent in a bid to seize the Robinhood stock, which was pledged by Alameda as collateral to guarantee repayment of a loan made by BlockFi.

☆ Sam Bankman-Fried's FTX collapse is a nightmare of shady finances - and these bizarre schemes emerged recently
▼ + stars: | 2022-12-31 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Recently, it emerged that FTX reportedly told customers to wire money to a little-known, fake electronics retailer website. One SEC complaint said FTX told customers to wire money to a subsidiary that was a little-known fake online electronics retailer. "FTX was an opaque company that was so centralized it relied entirely on one person," Andrew Yeoh, chief marketing officer of Web3 firm Nillion, told Insider. He has denied criminal liability and is due to appear in a New York federal court on January 3 for charges of wire fraud and conspiracy. "The point of crypto is that it's fully decentralized and trustless," he told Insider.

Dec 27 (Reuters) - FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company's holdings of digital assets belong to customers. The proposed class, which wants to represent more than 1 million FTX customers in the United States and abroad, seeks a declaration that traceable customer assets are not FTX property. The customer class also wants the court to find specifically that property held at Alameda that is traceable to customers is not Alameda property, according to the complaint. The lawsuit seeks a declaration from the court that funds held in FTX U.S. accounts for U.S. customers and in FTX Trading accounts for non-U.S. customers or other traceable customer assets are not FTX property. If the court determines it is FTX property, then the customers seek a ruling that they have a priority right to repayment over other creditors.

☆ Sam Bankman-Fried borrowed $546 million from his hedge fund to buy a Robinhood stake
▼ + stars: | 2022-12-28 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

In an affidavit that emerged Tuesday, Bankman-Fried said he and FTX co-founder Gary Wang borrowed more than $546 million from the hedge fund, Alameda Research, which they used to purchase the Robinhood shares via a holding company primarily controlled by Bankman-Fried. Wang has since pleaded guilty to four counts of fraud and conspiracy, in cooperation with US prosecutors investigating FTX’s collapse. Four separate entities have laid claim to the approximately 56 million shares, worth about $450 million. Also claiming the Robinhood shares are bankrupt crypto lender BlockFi, and an individual FTX creditor. BlockFi is suing Bankman-Fried for the Robinhood shares, which BlockFi claims it is owed after Alameda defaulted on $680 million in collateralized loan obligations.

☆ FTX's Sam Bankman-Fried bought Robinhood stock using hundreds of millions of dollars from his trading firm Alameda Research
▼ + stars: | 2022-12-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Disgraced FTX founder Sam Bankman-Fried took funds from his trading firm, Alameda Research, to buy Robinhood stock, court documents shows. Later, Alameda took out a loan and pledged those same shares as collateral, CoinDesk reported. Later, Alameda took out a loan and pledged those same shares as collateral, CoinDesk said. Now-bankrupt BlockFi alleged that it has rights to the Robinhood shares based on deals Bankman-Fried agreed to in November, a separate court document shows. The development is the latest example to come to light of how the finances of FTX, Alameda and other pieces of Bankman-Fried's empire were entangled.

☆ From Portugal to Bali, these 28 countries and territories offer 'digital nomad visas' for remote workers
▼ + stars: | 2022-12-08 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

28 countries offer residence visas for remote workers, also known as "digital nomad visas." Spain and Italy are still in the process of establishing a legal framework for the programs. The so-called "digital nomad visas" allow remote workers to live and work in countries like Malta, Portugal, and Costa Rica — as long as your income comes from outside the country. Here are 28 countries that currently offer visas specifically for remote workers and the minimum income required in order to apply:Europe digital nomad visasLisbon, Portugal. Flavio Vallenari/Getty ImagesGrenada: Minimum salary required of EC$100,000.00 a year (around $37,000) St. Lucia: Currently no salary requirements Curaçao: Currently no salary requirements Montserrat: Minimum salary required of $70,000 a year Dominica: Minimum salary required of $50,000 a year Cayman Islands: Minimum salary required of $100,000 a year Anguilla: Currently no salary requirements Antigua and Barbuda: Minimum salary required of $50,000 a year Barbados: Minimum salary required of $50,000 a yearNorth, Central, and South America digital nomad visasLaguna del Hule in Costa Rica.

☆ Another momentous year beckons for Britain's royal family
▼ + stars: | 2022-12-07 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

LONDON, Dec 7 (Reuters) - The last year will go down as one of the most seismic in the history of the British royal family with the death of Queen Elizabeth months after she celebrated her record seventh decade as monarch, but 2023 could prove almost as momentous. Elizabeth's success had been to guide the monarchy into the modern world, riding out the many crises that befell her family. Most damaging of all is the rift with Charles's younger son Prince Harry and his wife Meghan, who now live in California, and their criticism of the royal household. Harry and Meghan's interview with U.S. talk show host Oprah Winfrey in March 2021 rocked the institution and the royal family will be anxiously waiting to see if there are further damning revelations in the book. The major set piece event for the year will be King Charles's coronation - a solemn and religious event conducted by the Archbishop of Canterbury, the spiritual head of the Anglican Communion.

☆ I make around $14,000 a month ghostwriting on Fiverr and work around 5 hours a day. Here's how I got started and built up a clientele.
▼ + stars: | 2022-11-29 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

I also offer pitch writing and business-plan writing, from "Shark Tank" to angel-investor pitches. When I set up a website, I went on Fiverr to get a logo designed for it. By November, I had made enough money to leave the warehouse job and focus on Fiverr full time. I can write 1,000 words in an hour and 10,000 words, including interviews and outlines, in 12 to 15 hours. I went to the Bahamas in 2019 and I got to spend most of my time on the beach, but I had some client work to keep up with.

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