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☆ Mark Cuban called this CEO a 'great example' for any 'Shark Tank' contestant—he landed 3 offers and a $200,000 deal
▼ + stars: | 2023-04-03 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

While on a camping trip, someone asked Thurmond to create a firepit that wasn't so "massive" and "cumbersome," Thurmond said. Cuban, himself a billionaire entrepreneur, seemed impressed by Thurmond's commitment to getting his product right. Thurmond asked the show's panel of investors — including Cuban — for $200,000 of funding, in exchange for a 10% equity stake in LavaBox. Then, Lori Greiner asked Thurmond a question: What's the most important thing to you in a partner? She offered Thurmond $200,000 for a 15% equity stake, adding a 75 cent royalty per product sold until making back her investment.

☆ Barbara Corcoran says every successful person she knows has imposter syndrome: 'That's what drives them'
▼ + stars: | 2023-04-03 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

Corcoran, an entrepreneur and longtime investor on ABC's "Shark Tank," cited herself an example. And on "Shark Tank," it leads her to seek out entrepreneurs who question themselves. "Everyone's got self-doubt," Corcoran said. It may even be a shared experience among "Shark Tank" investors. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."

☆ MLB roundup: Trayce Thompson's 3 HRs power Dodgers' rout
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +10 min

Rangers 16, Phillies 3Mitch Garver hit a pair of three-run home runs in Texas' rout of Philadelphia in Arlington, Texas. Blue Jays starter Kevin Gausman (0-1) struck out seven and walked one in six innings. Nationals starter Josiah Gray (0-1) allowed five runs on seven hits -- including three home runs -- in five innings. Gray (1-0) allowed three hits, struck out one and walked four in the second game of the three-game series. The Rays scored the seven runs on six hits, and Yandy Diaz added two runs with a home run the following inning.

☆ Mark Cuban tells Elon Musk he's losing up to 1,000 followers a day despite paying for Twitter Blue
▼ + stars: | 2023-04-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Mark Cuban asked Elon Musk for help because he's losing followers on Twitter. The "Shark Tank" star said he starting paying for Twitter Blue after losing up to 1,000 followers a day. Twitter Blue subscribers are meant to get more visibility and promotion on their tweets. Twitter Blue was launched in December following Musk's $44 billion takeover a few weeks earlier. His research indicated that about half of Twitter Blue subscribers had less than 1,000 followers, while about 17% of subscribed accounts had less than 100 followers.

LONDON, March 31 (Reuters) - A member of a United Nations-backed coalition of insurance firms and pension funds seeking to tackle climate change told Reuters it was considering quitting after disagreements about curbing investment in the oil and gas sector split the group. The row is the latest in a string of policy splits among major climate coalitions of financial firms. AkademikerPension wanted the position paper to state that NZAOA members should only invest in public equities or corporate bonds when the companies involved are no longer investing in exploration for new oil and gas. German insurer Munich Re (MUVGn.DE) said earlier on Friday it was withdrawing from another alliance of insurers focused on reducing carbon emissions to avoid antitrust risks. "I think it's going to be extremely difficult for a plaintiff, even a government enforcer, to prevail on an antitrust theory of harm," said Mitnick.

☆ FTX Founder Sam Bankman-Fried Pleads Not Guilty to Latest Federal Charges
▼ + stars: | 2023-03-30 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

FTX founder Sam Bankman-Fried pleaded not guilty Thursday to new federal charges tied to the collapse of the crypto exchange while his lawyer said he plans to challenge the new criminal counts, arguing they violate the terms of the former chief executive’s extradition. Mr. Bankman-Fried appeared in a New York federal court to be arraigned on five charges that federal prosecutors unveiled in recent indictments, including one this week that alleged he conspired to bribe Chinese government officials in violation of a U.S. anticorruption law. His lawyer Mark Cohen entered the not guilty plea for Mr. Bankman-Fried during the proceeding.

OTTAWA, March 30 (Reuters) - Canada's province of Alberta - the heart of the country's oil and gas industry - is expected to offer more support for carbon capture utilization and storage (CCUS) projects now that the federal government has its incentives in place, the federal natural resources minister told Reuters on Thursday. This week, Canada's federal budget expanded eligibility for CCUS investment tax credits over the next five years, by adding C$520 million to the C$2.6 billion program laid out in last year's budget. Natural Resources Minister Jonathan Wilkinson said he has had many conversations with the Alberta government on CCUS, including one earlier this week, and he hopes to see some of the major CCUS projects launched by end-year. In an interview with Reuters in January, Trudeau urged Alberta to contribute to CCUS. ($1 = 1.3526 Canadian dollars)Reporting by Steve Scherer and Nia Williams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ The FBI is struggling to analyze Sam Bankman-Fried's laptop because it has so much data on it, prosecutors say
▼ + stars: | 2023-03-30 | by ( Sindhu Sundar | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Prosecutors said they're struggling to analyze a laptop for their case against Sam Bankman-Fried. Sam Bankman-Fried pleaded not guilty to federal prosecutors' new criminal charges against him. In a hearing in Manhattan federal court Thursday morning, Assistant US Attorney Nicholas Roos said the FBI was struggling to extract data from a laptop they obtained from the FTX founder. Prosecutors have already produced around 6 million pages' worth of discovery material to Bankman-Fried's legal team, Roos said at the hearing. Federal judges look to sentencing guidelines articulated by a pre-sentence department, part of the US probation office that works for the federal court.

☆ Sam Bankman-Fried pleads not guilty to latest round of federal fraud, bribery charges
▼ + stars: | 2023-03-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried pleaded not guilty in New York federal court Thursday to five additional charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. Bankman-Fried's hedge fund then allegedly used the unfrozen assets to continue to fund Alameda's loss-generating trades, continuing on what the government says was a fraud upon customers and investors for another year. The 13-count indictment gives details of hundreds of political donations that Bankman-Fried allegedly directed in violation of federal campaign finance laws. Bankman-Fried already pleaded not guilty to eight other counts. In addition to this federal indictment, Bankman-Fried also faces civil charges from both the Securities and Exchange Commission and the Commodity Futures Trading Commission.

☆ Ukraine's tank force shouldn't stand a chance against Russia's on paper, but dumb mistakes keep tipping the scales
▼ + stars: | 2023-03-30 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +12 min

Russia has more tanks than Ukraine, more updated tanks than Ukraine, and more tank options. All three Western tank models are larger than most Russian tanks and are "quite survivable" thanks to their advanced armor, according to Edmonds. It's still unclear when the Western tanks will arrive or what role they will ultimately play in Ukraine's future offensives. "This stalemated frontline where we are right now, this is not a good environment for tanks," Cancian said. But the number of incoming Western tanks — less than 150 — is unlikely to change the tides of war.

☆ Premarket stocks: Banking chaos has been bittersweet for crypto and wine
▼ + stars: | 2023-03-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But it also gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets. Bittersweet banking: SVB lent over $4 billion to winery clients since 1994, with over 400 wine industry clients (including wineries, vineyards and vendors) working with the bank’s premium wine division, according to the bank’s website. Recent SEC filings, meanwhile, indicated SVB had about $1.2 billion in outstanding loans to high-end wine clients when the bank collapsed. Circle, the company behind popular stablecoin USDC, said it had about $3.3 billion of its $40 billion in reserves at SVB. The collapse of Signature Bank, a major crypto lender, also had serious implications for the industry.

☆ Adidas drops trademark complaint against Black Lives Matter
▼ + stars: | 2023-03-29 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

The German sportswear company said Wednesday it was dropping its opposition to an attempt by a Black Lives Matter campaign group to trademark a logo featuring three parallel stripes. “Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” a company spokesperson said in a statement. Adidas (ADDDF) filed a complaint with the United States Patent and Trademark Office on Monday, arguing that the foundation’s logo was “likely to cause confusion” with its own three-stripe logo featured on its apparel. Adidas retracted its complaint over fears that it could be seen as an objection to the cause of Black Lives Matter (BLM), Reuters reported, citing an unnamed source close to the company. The Black Lives Matter Global Network Foundation is a nonprofit organization that supports the wider BLM movement.

☆ Elon Musk clarified that Twitter users will still see accounts they follow in their For You feeds after backlash over his plan to only show paid subscribers there
▼ + stars: | 2023-03-28 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Elon Musk said Monday that only verified Twitter accounts will appear in users' For You feeds starting April 15. On Tuesday, he backtracked and said accounts that users follow will also stay in the feed. On Monday, he said only verified accounts will appear in users' For You recommendations feed and be allowed to vote in polls starting April 15. Many Twitter users took issue with the planned change. Twitter Blue's rollout hit roadblocks early on when users bought verification to impersonate celebrities, politicians, and even companies.

☆ Expanding the FDIC deposit cap would increase the rate of bank failures, says Cato's Mark Calabria
▼ + stars: | 2023-03-28 | 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 EmailExpanding the FDIC deposit cap would increase the rate of bank failures, says Cato's Mark CalabriaMark Calabria, senior advisor at The Cato Institute and former director of The Federal Housing Finance Agency and CNBC's Steve Liesman, join 'The Exchange' to discuss the latest takeaways from the hearing on the SVB collapse, the questions facing regulators, and considerations around the FDIC deposit cap.

☆ ‘We Love NYC’ Ad Blitz Gets No Love From Residents—and That’s OK With Its Creators
▼ + stars: | 2023-03-24 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

The Partnership for New York City, the nonprofit group behind the new “We Love NYC” ad campaign, doesn’t mind that its logo seems to be loathed by city residents ranging from newspaper columnists to pop star Joe Jonas, who offered his own version. After all, any publicity is good publicity. The project, which launched this week with the release of the new logo, offers a twist on the classic “I Love NY” mark created in 1977 by designer Milton Glaser . The purpose is to persuade New Yorkers to adopt a more optimistic outlook and improve quality of life in their city by frequenting local businesses and signing up for volunteer work, said marketing executive Maryam Banikarim, whose consulting firm, MaryamB, helped develop the campaign strategy.

WASHINGTON, March 22 (Reuters) - The U.S. Supreme Court on Wednesday is set to hear a trademark clash between Jack Daniel's and a dog accessory company behind a parody chew toy resembling the distiller's widely recognized black-label whiskey bottle. The dispute pits the whiskey brand's trademark rights against legal protections for creative expression - in this case a send-up by Phoenix-based VIP Products LLC of Jack Daniel's Old No. A 2,300-strong group of authors took the opposite view, saying a win for Jack Daniel's could lead to a "catastrophic chilling effect" over worries that creative expression might spark litigation. The 9th Circuit said the Bad Spaniels toy was an "expressive work" and thus potentially shielded under the First Amendment from Jack Daniel's trademark infringement claim. President Joe Biden's administration supports Jack Daniel's appeal.

☆ Tonic maker Fevertree to raise prices as glass costs soar
▼ + stars: | 2023-03-22 | by ( Radhika Anilkumar | ) www.reuters.com time to read: +2 min

Fevertree, which sells most of its upmarket mixers in glass bottles, warned in January its profits this year would be hit by an estimated 20 million pound ($25 million) increase in glass production costs. The London-based company, which supplies to about 85 countries, did not say by how much it would raise prices, nor give details of its U.S. production plans. Fevertree, founded in 2003, said it was working with glass suppliers to mitigate costs wherever possible. Coca-Cola HBC AG (CCH.L), one of Coca-Cola's many bottlers worldwide, said in February it would also increase prices to tackle rising costs. Fevertree reported a 37% fall in adjusted core profit to 39.7 million pounds for the year ended Dec. 31, in line with its guidance.

Many of the regional banks have also said that their deposit base has stabilized. "The regional banks have come under pressure because they are less equipped to handle a withdrawal of deposits the way the big banks are," said Mark Chandler, chief market strategist at Bannockburn Global Forex in New York. In a move of solidarity, most of the major banks agreed on Thursday to deposit $30 billion in First Republic. At least four U.S. lawmakers said on Sunday they would consider whether a higher federal insurance limit on bank deposits than the current $250,000 threshold was needed to inspire more confidence in the system. Buffett has yet to prop up any of the regional banks.

☆ 25-year-old 'Shark Tank' contestant sold ice cream from a roadside tent—now he has a $200,000 deal with Barbara Corcoran
▼ + stars: | 2023-03-20 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

When Jeremy Carlson was a college freshman, he started selling ice cream cones from a tent by the side of the road. The cooking style, which he discovered during a mission trip to the Czech Republic, ultimately led to two brick-and-mortar ice cream shops called Crispy Cones — and a $200,000 investment deal with Barbara Corcoran on Friday's episode of ABC's "Shark Tank." Carlson's earnings as an Uber and Lyft driver, along with a Small Business Administration loan and $190,000 credit line, helped Crispy Cones move from a tent to a trailer to the two storefronts. Together, the couple asked for a $200,000 investment in exchange for 10% of Crispy Cones. Corcoran offered the Carlsons a more lucrative deal: $200,000 for 20% of Crispy Cones' equity.

☆ Ukraine's troops fight off 'massive' Russian attacks in Bakhmut with World War I-era machine guns and sniper traps
▼ + stars: | 2023-03-17 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +2 min

Ukraine has used a WWI-era machine gun on the front line to mow down the enemy. "It only works when there is a massive attack going on," a Ukrainian soldier told BBC News. Ukraine's troops have modified the guns with modern add-ons such as optics and suppressors, according to reporting from Task and Purpose. The fighting in Ukraine has repeatedly garnered parallels to World War I, with both sides locked in a brutal war of attrition featuring trenches, relentless artillery barrages, and heavy casualties. In this environment, even some of the weapons of that era have come in handy as Ukrainian troops face human wave attacks on the front line — tactics common to World War I.Ukraine has also apparently utilized a type of World War I-era sniper decoy, employing dummies meant to fool enemy snipers.

Despite SVB's demise knocking the value of banks globally, particularly European lender Credit Suisse, U.N. climate envoy Mark Carney said he, too, did not expect a "material" impact on climate tech funding. "At a minimum, this will likely drive continued tightening of investments and a push to have their portfolio companies cut (cash) burn," it said in a note. Mona Dajani, partner at law firm Shearman and Sterling, said most of her clean energy clients either banked with SVB or faced some other impact from its troubles. SVB "cultivated a reputation as being very friendly to clean energy... they were willing to underwrite more risk," she said. "Not all the companies are going to make it and now that’s happening to climate companies."

Greg Becker, who was the longtime CEO of Silicon Valley Bank, pictured last year. "Looks like Silicon Valley Bank is in some deep shit," Uncommon Capital general partner Jamie Quint tweeted. Startup founders scrambled to get their funds out of Silicon Valley Bank after its collapse. Andreessen Horowitz announced this week that it will continue banking with Silicon Valley Bank "for the foreseeable future" but is crafting a longer-term plan to diversify. Even so, he added, "I think we'd be supportive, as they stabilize, for them to be one of many partners that our founders bank with."

☆ Silicon Valley Bank seizure leaves a massive hole — and a large opportunity — in the world of climate finance
▼ + stars: | 2023-03-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

"Nobody understands startups as well as Silicon Valley Bank and how to lend to them," says Zachary Bogue, a long-time tech investor and cofounder of DCVC. "Silicon Valley Bank understood that even though we may have only had $10,000 or so in deposits at the time, we had a lot of potential," Clerico told CNBC. "That early investment in our relationship paid off," Clerico told CNBC. In this, the bank "was a climate bank pioneer," said Steph Speirs, co-founder and CEO of Solstice Power Technologies, which has built a technology to help connect people to community solar projects. But it will take some time, and delays can be costly in the fight against climate change," Bhatraju told CNBC.

☆ LIVE: Silicon Valley Bank's collapse fanned fears of a financial meltdown, but officials seem to have averted a crisis for now. Here's what's happening, what experts are saying, and what it all means.
▼ + stars: | 2023-03-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

We're live-blogging the fallout from Silicon Valley Bank's collapse last week. US authorities have guaranteed the lender's deposits and promised its customers will be made whole. Bill Ackman, Michael Burry, and others have weighed in on the fiasco rocking financial markets. We're live as Silicon Valley Bank's collapse continues to rattle investors and stoke fears of further bank runs and financial catastrophe. Others have warned it could encourage banks to be more reckless, and SVB might be the first of several institutions to fail.

☆ 38-year-old mom launched a frozen yogurt startup from her kitchen—now she's a 'Shark Tank' CEO with a $1.5 million company
▼ + stars: | 2023-03-13 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The whipped, frozen Greek yogurt delicacy she put together became Sweetkiwi, a Dallas-based food startup founded in 2011. And on Friday's episode of ABC's "Shark Tank," Eigbe and her business partner — her husband, Michael Kindele — landed a $250,000 investment deal with Robert Herjavec valuing the company at more than $1.5 million. She initially offered the Sharks 5% of her company for that $250,000 investment, noting that the money would go toward brand-building and marketing. The duo expressed confidence despite their industry's heavy competition, noting that Sweetkiwi pints have less sugar than most other frozen yogurts. Herjavec's final offer was $250,000 for a 16% stake in the company — which Sweetkiwi accepted.

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