DIRS.INFO The most relevant business & tech news

☆ Bed Bath & Beyond Terminates Hudson Bay Deal, Turns to Market To Raise $300 Million
▼ + stars: | 2023-03-30 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Resume SubscriptionWe are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.

☆ Bed Bath & Beyond Ends Hudson Bay Deal, Turns to Market for $300 Million to Avoid Bankruptcy
▼ + stars: | 2023-03-30 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc. said it will try to sell up to $300 million of common stock in the open market while terminating a fundraising deal with hedge fund Hudson Bay Capital Management LP in the latest effort by the troubled home-goods retailer to stave off bankruptcy. The Union, N.J.-based company broke off its equity-raising deal with Hudson Bay after reporting another sharp drop in sales in the most recent quarter. Bed Bath & Beyond also said that if its public offering fails to come through, the company expects to file for bankruptcy protection, likely wiping out holders of its common stock.

☆ What did Putin say on tactical nuclear weapons and Belarus?
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 25 (Reuters) - President Vladimir Putin said on Saturday that Russia has struck a deal with neighbouring Belarus to station tactical nuclear weapons on its territory. Even outside the context of these events, this statement, Alexander Grigoryevich Lukashenko has long been raising the question of the deployment of Russian tactical nuclear weapons on the territory of Belarus." They have long ago deployed their tactical nuclear weapons on the territory of their allied countries, NATO countries, in Europe, in six states. From April 3 we will start training the crew and on July 1 we will finish the construction of a special storage facility for tactical nuclear weapons on the territory of Belarus." This is exactly what Alexander Grigoryevich (Lukashenko) has asked for."

☆ Office space pessimism appears overblown, says Piper Sandler's Alexander Goldfarb
▼ + stars: | 2023-03-23 | 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 EmailOffice space pessimism appears overblown, says Piper Sandler's Alexander GoldfarbAlexander Goldfarb, managing director and senior REIT analyst at Piper Sandler, joins "The Exchange" to discuss why the so-called death of offices appears overblown.

☆ Bed Bath & Beyond Stock Falls 21%, Complicating Further Fundraising
▼ + stars: | 2023-03-20 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc.’s shares fell 21% Monday after the retailer disclosed substantial dilution from a recent equity deal, potentially preventing it from raising more money from a crucial investor, hedge fund Hudson Bay Capital Management LP. The home-goods retailer’s stock closed at 81 cents Monday, after it said Friday that the number of its common shares had nearly tripled to at least 335 million as of March 15 from 117 million as of late January.

☆ Ukraine war live updates: Russia extends grain export deal for 60 days; Bakhmut fighting 'hard' and 'very painful,' Kyiv says
▼ + stars: | 2023-03-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

A vital grain export deal between Ukraine and Russia has been extended for 60 days, according to Russia's deputy foreign minister, who was quoted by a Russian news agency. The deal, known officially as the Black Sea Grain Initiative, has facilitated the export of agricultural products, such as wheat, corn and sunflower oil, from Ukraine via the Black Sea. Early on in the war a blockade on such exports contributed to global food shortages and rising prices. The grain initiative, brokered by Turkey and the United Nations last July, has enabled millions of tons of agricultural products to be exported from Ukraine, alleviating shortages elsewhere. Moscow has complained that international sanctions on its logistics, insurance and payments industries have continued to impede its own agricultural exports of grain and fertilizers.

☆ Marian Croak, who has 200 patents to her name including the technology behind Zoom, became one of the first Black women to be inducted into the Inventors Hall of Fame
▼ + stars: | 2023-03-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +4 min

Marian Croak became one of the first two Black women to be inducted into the Inventors Hall of Fame. Her innovations in internet technology have enabled remote work, text donations, and voting for American Idol. Last year, she was inducted into the National Inventors Hall of Fame — among the highest honors for inventors, including Thomas Edison, Alexander Graham Bell, and the Wright brothers. Croak became one of first two Black women to receive that honor, alongside the late Patricia Bath, an ophthalmologist who created a device used during surgery to easily remove cataracts. As one of the first-ever Black women to be inducted into the National Inventors Hall of Fame, Croak recognizes the importance of diversity in a historically homogenous industry.

The fortunes of MLB players are tied to team revenues, and players are closely watching any changes to sports TV. Two of the largest regional sports broadcasters in the U.S. are on the verge of unraveling, an event that is expected to alter how professional teams are funded and how fans tune in to the games. Diamond Sports Group LLC , which carries the games of more than 40 major sports teams across the country on its Bally Sports-branded networks, is expected to file for bankruptcy in coming weeks, which people involved expect to lead to a renegotiation of rights fees—a significant part of teams’ revenue.

☆ Troubled Jones set to make new bid for UFC greatness
▼ + stars: | 2023-03-03 | by ( Philip O'Connor | ) www.reuters.com time to read: +2 min

"I'm ready to dominate, but if I don't dominate and the fight goes five rounds, I'm ready to press forward, I'm ready for a dog fight,” Jones told a media conference ahead of his return at the T-Mobile Arena on Saturday night. "I'm ready to bleed and sweat and leave my heart out there. I'm ready for however it goes. Australia's featherweight champ Alexander Volkanovski was unsuccessful in his recent bid to add the lightweight crown, but Jones is looking beyond him and all others. "He (Volkanovski) is refreshing, he speaks well, his country loves him, he represents the sport well," Jones said when the comparison was put to him.

☆ Toronto-Dominion to Pay $1.2 Billion to Settle R. Allen Stanford Ponzi Litigation
▼ + stars: | 2023-02-27 | by ( Alexander Gladstone | Adriano Marchese | ) www.wsj.com time to read: 1 min

☆ 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.

Bed Bath & Beyond’s storied brand and the passionate interest of individual investors helped the retailer secure a lifeline. Sue Gove wanted to keep Bed Bath & Beyond Inc. out of bankruptcy. Few believed it was possible. Alarmed by the retailer’s deteriorating finances, banks in January had cut off their credit lines and pushed for the company to start a liquidation, including selling off inventory, to repay their loans, said people familiar with the matter.

☆ Working from home days equal 20% hit to NYC's midtown GDP, says top REIT analyst
▼ + stars: | 2023-02-13 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWorking from home days equal 20% hit to NYC's midtown GDP, says top REIT analystAlexander Goldfarb of Piper Sandler on whether there's a short on NYC-focused REITs. With CNBC's Melissa Lee and the Fast Money traders, Dan Nathan, Karen Finerman, Guy Adami and Steve Grasso.

☆ Bed Bath & Beyond to Shut Down Canadian Stores in Bankruptcy
▼ + stars: | 2023-02-10 | by ( Soma Biswas | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond Inc.’s Canadian division will shut down its stores under court protection after the company received an unusual lifeline earlier this week to save its U.S. operations from bankruptcy. The troubled retailer filed its Canadian division for protection under the Companies’ Creditors Arrangement Act, Canada’s rough equivalent of chapter 11 bankruptcy. Bed Bath & Beyond has “reluctantly concluded” that even with the lifeline of its recent equity raise, there isn’t enough capital available both to restructure its U.S. business and bring the Canadian business to profitability, the company said in filings with an Ontario court.

☆ Russia accuses Nord Stream blast investigators of cover-up
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - Russia's foreign ministry said on Thursday that European countries were trying to hide the results of their investigations into last year's blasts on the Nord Stream gas pipelines, accusing them of covering up who was to blame. The blasts, which are being investigated by Swedish and Danish authorities, could put three of Nord Stream 1 and 2's four undersea lines permanently out of use. Moscow had asked Stockholm to be allowed to join the investigation, but both Sweden and Denmark rejected the idea of Russian participation. Construction of Nord Stream 2, designed to carry Russian gas to Germany, was completed in September 2021. Swedish and other European investigators say the attacks were carried out on purpose, but they have not said who they think was responsible.

☆ The Investor Behind the $1 Billion Bet on Bed Bath & Beyond
▼ + stars: | 2023-02-08 | by ( Gregory Zuckerman | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond is shutting dozens more stores as part of its plan to stay in business. Why would a well-established hedge fund and other investors spend as much as $1 billion to purchase the equity of a retailer on the verge of bankruptcy—a move that could wipe out that equity? That is what some on Wall Street are asking after Hudson Bay Capital Management and others agreed to invest in struggling Bed Bath & Beyond Inc.

Bed Bath & Beyond put together a financing package that gives it some breathing room as it struggles to survive. Bed Bath & Beyond Inc. couldn’t get banks to lend it money, but the troubled retailer found one hedge fund willing to bet on its stock. Bed Bath & Beyond landed a do-or-die rescue deal that takes bankruptcy off the table for now. Shares, which have surged in recent weeks despite the company’s dire situation, tumbled by nearly 50% early Tuesday as the new financing will dilute existing shareholders.

Bed Bath & Beyond put together a financing package that gives it some breathing room as it struggles to survive. Bed Bath & Beyond Inc. couldn’t get banks to lend it money, but the troubled retailer found investors willing to bet on its survival. Bed Bath & Beyond landed a do-or-die rescue deal that takes bankruptcy off the table for now. Shares, which have surged in recent weeks despite the company’s dire situation, tumbled by nearly 50% early Tuesday as the new financing will dilute existing shareholders.

Bed Bath & Beyond Inc. has secured investor backing for a more than $1 billion capital raise to stave off bankruptcy and try to turn around its flagging business, people familiar with the matter said. The offering of convertible stock and warrants, coupled with a $100 million additional credit line from one of its lenders, is expected to save the troubled retailer from the near-term chapter 11 filing it has warned about for weeks. Bed Bath & Beyond has received investor commitments to raise $225 million of equity capital initially and the rest of the more than $1 billion offering over time, according to people familiar with the matter.

Bed Bath & Beyond Inc. will try to raise more than $1 billion by selling stock, hoping investors who have propelled its stock higher despite its financial troubles can save it from bankruptcy. The offering of stock and warrants, coupled with a $100 million additional credit line from one of its lenders, could help the troubled retailer raise enough cash to avoid the chapter 11 filing it has warned about for weeks. Bed Bath said Monday that it can’t give any assurances it will receive any or all of the proceeds of the equity offering, which is subject to market conditions and not guaranteed to be completed.

☆ Washington Property Linked to FTX Customer Funds Pulled From Market
▼ + stars: | 2023-02-03 | by ( Akiko Matsuda | Alexander Gladstone | ) www.wsj.com time to read: 1 min

A Washington, D.C., townhouse that FTX’s new management has linked to Sam Bankman-Fried‘s political spending has been pulled off the market after the company alleged that the $3.3 million property was purchased with FTX customer funds. Property records show the four-bedroom, 4,100-square-foot property in Capitol Hill is owned by Guarding Against Pandemics, a nonprofit organization founded by Mr. Bankman-Fried’s brother Gabriel. FTX’s newly appointed management team said in a court filing last month that Guarding Against Pandemics was also funded by FTX founder Sam Bankman-Fried and that the organization purchased a multimillion-dollar property using what the company believes are misappropriated customer funds.

Bed Bath & Beyond Inc. said Friday it was closing an additional 87 of its flagship stores and its entire Harmon chain of drugstores, as the retailer struggles to find financial support to keep its operations funded. The latest closings are in addition to a plan announced in August to shut 150 lower-performing Bed Bath & Beyond locations, a spokeswoman said. The company said Friday it is also closing five of its Buybuy Baby stores. The company had about 50 Harmon stores as of February 2022.

Bed Bath & Beyond Inc.’s path to restructure its business in bankruptcy is narrowing, as the home-goods retailer struggles to find financial support to keep its operations funded and avoid liquidation, people familiar with the matter said. The company, which is expected to file for bankruptcy soon, faces limited options to reorganize as a going concern, these people said: Its lenders have cut off credit, it hasn’t secured a buyer to acquire its business, it is struggling to raise financing to survive chapter 11 even in shrunken form and many vendors have stopped shipping goods to the retailer. Discussions are continuing and a financing deal could still materialize, these people said.

☆ Canada judge calls into question regulator's argument to block Rogers-Shaw deal
▼ + stars: | 2023-01-24 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Jan 24 (Reuters) - A Canada federal judge called into question the competition bureau's argument to block Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid for Shaw Communications Inc (SJRb.TO) as the court hearing kicked off on Tuesday. But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. "According to the tribunal, this was not a particularly close case," the judge told the court on Tuesday. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. A spokesperson for the competition bureau declined to comment while the matter was before the court.

Search resuls for: "Alexander G"

25 mentions found