DIRS.INFO The most relevant business & tech news

☆ Malaysia's TIME sells data centre stake to DigitalBridge for $440 mln
▼ + stars: | 2022-11-22 | by ( Gabriel Araujo | ) www.reuters.com time to read: +1 min

SINGAPORE, Nov 22 (Reuters) - Malaysian telecoms firm TIME dotCom (TCOM.KL) is selling a major stake in its data centre business to U.S. infrastructure investor DigitalBridge Group (DBRG.N) for about 2 billion ringgit ($437.64 million), the companies announced on Tuesday. TIME will sell 49% of the ordinary shares and 100% of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21% of the ordinary shares in AIMS Data Centre (Thailand), according to the statement. Proceeds from the stake sales will be partly used by TIME to pay a special dividend of up to 1 billion ringgit to its shareholders, TIME's Commander-in-Chief Afzal Abdul Rahim said in the statement. The deal gave the AIMS business an enterprise value of 3.2 billion ringgit and compares to the 119 million ringgit TIME paid to buy it in 2012, according to the company. AIMS' current book value is 240 million ringgit.

☆ KKR is canceling its plans for a big new Manhattan office. It joins Meta, Netflix, and other big firms pulling back on office space.
▼ + stars: | 2022-11-22 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

Two senior leasing executives in Los Angeles told Insider that Meta just canceled its plans to expand by 300,000 square feet in the city. KKR's decision comes as New York City's office market flagsTenants who are on the fence about taking space have little incentive to rush to commit to deals as the city's office market continues to soften. Leasing activity in Manhattan totaled 20.27 million square feet through October, according to CBRE, 38% more than the same period last year. Leasing is on track to finish the year well below prepandemic activity in 2018 and 2019, when 32.4 million and 31.6 million square feet were leased respectively in total. Cushman & Wakefield data showed there was over 21 million square feet of sublease space available in Manhattan in September.

☆ Elon Musk referenced the Bible and said he won't allow Sandy Hook conspiracy theorist Alex Jones back on Twitter on the same day he reinstated Trump's account
▼ + stars: | 2022-11-21 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk said he won't restore conspiracy theorist radio host Alex Jones' Twitter account. Musk recently reinstated formerly banned accounts like Donald Trump, Kanye West, and Andrew Tate. The billionaire CEO of Twitter responded to a tweet by American philosopher Sam Harris on Saturday, who asked: "Is it time to let Alex Jones back on Twitter, Elon Musk? Musk had already said "No" on Friday to one user who had tweeted "Bring back Alex Jones!!!!" Musk reinstated Trump's account on Saturday after polling followers about whether he should be allowed to return to the platform.

☆ The story of Sam Bankman-Fried's FTX implosion put crypto news sites like CoinDesk and The Block on the map. Inside their plan to fend off an ad slump and conspiracy theories — and keep winning.
▼ + stars: | 2022-11-21 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +14 min

Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. Crypto media kicks into overdriveRoberts said Decrypt's traffic doubled during the first week of the FTX saga. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet. "It's now a situation where the crypto media has egg on their face.

☆ FTX Group has secured just $740 million in crypto that it hopes to recover in bankruptcy after holding more than $5 billion before its collapse
▼ + stars: | 2022-11-17 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

FTX Group has secured in new cold wallets approximately $740 million of cryptocurrency, a new filing said. But that's just a fraction of the digital assets that FTX hopes to recover in bankruptcy. Sam Bankman-Fried's crypto empire listed crypto and stablecoin assets that topped $5 billion before the Chapter 11 filing. Elsewhere in the filing, assets across the four silos showed "crypto assets held at fair value" totaled more than $4 billion as of September 30. In addition, US dollar-denominated stablecoins totaled more than $1.1 billion across the silos.

- Ray said he had secured $740 million in cryptocurrency, a "fraction" of what he hopes to recover during the bankruptcy. Bankman-Fried and his co-founders failed to identify wallets that might contain FTX assets, he added. - Record keeping was so lax that Ray said he was unable to compile a complete list of FTX employees. - The second silo is Alameda Research LLC, which Ray described as a crypto hedge fund owned by Bankman-Fried and Wang with assets of $13.46 billion. - The other silos were Ventures, which manages private investments and had around $2 billion in assets, and Dotcom, which owned non-U.S. exchanges with $2.25 billion in assets.

☆ Electric vehicle makers burning cash, slammed by sky-high costs
▼ + stars: | 2022-11-14 | by ( Akash Sriram | ) www.reuters.com time to read: +5 min

[1/2] A Canoo Lifestyle Vehicle is displayed during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. Quarterly reports from electric vehicle (EV) makers from the past two weeks show them struggling to hit delivery targets and rapidly burning through cash. At the end of September, it had $6.8 million in cash and equivalents, down sharply from $415 million a year earlier. Still, higher output would ultimately reduce the cost per car and limiting production can threaten the path to profitability, analysts said. Rivian, backed by Amazon.com (AMZN.O) and Ford Motor (F.N), had $13.8 billion cash on hand at the end of September.

☆ How this 41-year-old went from 'living on credit cards' to retiring at 36 with $3 millon in California
▼ + stars: | 2022-10-13 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

Today, the 41-year-old lives in San Diego, has a net worth of $4.4 million and runs a small business selling financial literacy courses online. Budgeting while building his business: 'I was living on credit cards'When he graduated from college, Schneider decided to bet on himself. Instead of taking a $74,000-a-year gig with Microsoft, where he'd interned as a software developer, he started his firm. Today, 41-year-old Jeremy Schneider lives in San Diego, has a net worth of $4.4 million and runs a small business selling financial literacy courses online. In 2019, Schneider started an Instagram account where he shared daily personal finance and money tips.

☆ Interest rate delusion may be biggest error of all
▼ + stars: | 2022-10-06 | by ( Edward Chancellor | ) www.reuters.com time to read: +7 min

The false idea exposed by the current bear market is that interest rates would remain low indefinitely. The belief that interest rates would remain at permanently low levels could prove the most costly error of all. The lowest-ever interest rates gave us the “Everything Bubble”. Now that interest rates are rising, everything is at risk. The pension funds faced margin calls on their loans, and the bond market seized up as they scrambled to raise cash.

☆ Jim Cramer's 'dirty dozen' stocks that underscore the carnage in the IPO market
▼ + stars: | 2022-09-27 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday highlighted his list of "dirty dozen" companies that exemplify the losses incurred by investors who funneled their cash into initial public offerings and other risky stocks. "Some of the most egregious offenders were the dirty dozen that hit you with repeated unsportsmanlike conduct … and ultimately put your portfolio on injured reserve," he said. Here are the dirty dozen:Cramer came up with his list by running a screen on initial public offerings from 2020 and 2021 that are now down 50% or more from their 52-week highs. U.S.-listed companies raised only $4.8 billion through their initial public offerings in the first half of this year compared to over $155 billion in 2021, according to EY and Dealogic. Cramer added that the decline in SPACs, or special purpose acquisition companies, is reminiscent of the dotcom collapse.

☆ How SkyBridge founder Anthony Scaramucci is navigating the world between traditional and digital assets — plus his favorite coins and hedge funds for the tough market environment
▼ + stars: | 2022-09-21 | by ( Laila Maidan | Alyson Velati | ) www.businessinsider.com time to read: +7 min

A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.

☆ First Boston deserves a selective revival
▼ + stars: | 2022-09-20 | by ( John Foley | ) www.reuters.com time to read: +4 min

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland September 2, 2022. By 2006, Credit Suisse First Boston was once again just Credit Suisse. Register now for FREE unlimited access to Reuters.com RegisterFor today’s Credit Suisse, anything that conveys renewed ambition is worth a try. First Boston was a U.S. investment bank in which Credit Suisse first bought a stake in 1978. The Swiss bank took full control in 1990 after First Boston incurred large losses on loans it had made to clients.

☆ How these MBA grads used their education — from opening a clothing store to working at a nonprofit
▼ + stars: | 2020-08-04 | by ( Alana Pockros | ) www.businessinsider.com time to read: +14 min

Financial services and consulting are some of the most popular fields for business school grads. According to statistics from Harvard Business School, financial services and consulting are the most popular paths for its graduates. When Colloredo-Mansfeld's husband got a professorship at the University of Iowa, she started working at Iowa's business school. Additionally, he had gotten a taste of business school years prior when he attended Stanford's Summer Institute for General Management Program. It was on these site visits that Richman started to work directly with customers and realized she had a passion for selling.

Search resuls for: "Dotcom"

13 mentions found