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Coking coal prices, along with those for iron ore, have rallied on the back of this optimism, with both steel raw materials recording strong gains this year. The answer is that for coking coal there appears to be both rising demand and some supply disruptions at work. Japan, the second-biggest buyer of seaborne coking coal, imported 5.01 million tonnes in January, up from December's 3.98 million and roughly level with last January's 5.08 million. Outside of Asia, Europe's imports of coking coal rose to 3.81 million tonnes in January from December's 3.55 million, according to Kpler. The overall picture from coking coal imports is that there has been a move higher in recent months, which does provide some fundamental backing to the rally in prices.

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 just missed another debt payment. See the full list of stores it will close, including Harmon and Buybuy Baby locations.
▼ + stars: | 2023-02-02 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +20 min

In addition to 87 more Bed Bath & Beyond stores, the company now says it will close all of its remaining Harmon health and beauty stores, and five Buybuy Baby stores. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. Marina: 117 General Stilwell Drive117 General Stilwell Drive Vallejo: 105 Plaza Drive, Suite 107105 Plaza Drive, Suite 107 * Palm Desert: 72459 Highway 11172459 Highway 111 * Visalia: 3125 South Mooney Blvd. Arterial * Coralville: 2515 Corridor Way Suite 5Kansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd Place425 3rd Place * Olathe: 15335 W. 119th St.Kentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd.

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.

☆ Plug Power scraps electrolyser plant partnership with Fortescue
▼ + stars: | 2023-01-27 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

SummarySummary Companies Plug Power questions plant's economicsFFI wants to use its own electrolyser technologyNo change to capital cost at $83 millionMELBOURNE, Jan 27 (Reuters) - Plug Power (PLUG.O) has walked away from building an electrolyser manufacturing plant in Australia with Fortescue Metals Group (FMG.AX) as the economics did not work, Plug Chief Executive Officer Andrew Marsh said on Thursday. Fortescue had planned to build the world's biggest factory to make electrolysers with Plug Power and began construction in Gladstone in Australia's northeast last February aiming to produce their first electrolyser in 2023. In a business update on Thursday, Plug Power CEO Marsh said the plant deal with Fortescue was off. Fortescue wants to use its own electrolyser technology instead of Plug Power's technology, although it will buy electrolysers from the U.S. company for some of its hydrogen projects, Fortescue founder and executive chairman Andrew Forrest said. "I think Plug Power is very much locked in to certain technology and on a production cycle," Hutchinson told analysts on a quarterly call.

☆ Streaming services are spending bank on big-budget movies. That's not buying Oscar nods.
▼ + stars: | 2023-01-24 | by ( Travis Clark | ) www.businessinsider.com time to read: +5 min

Streaming services came up short at this year's Oscar nominations, announced on Tuesday. This year, it only has 15 — nine of which were for its one best-picture contender, "All Quiet on the Western Front." But the nominations also reflect the shifting streaming priorities for media and tech companies coming out of the pandemic. Only one of those four movies got an Oscar nomination — an adapted screenplay nod for "Glass Onion: A Knives Out Mystery." Leonardo DiCaprio and Lily Gladstone in "Killers of the Flower Moon," an Oscar contender for next year.

☆ AMC Seeks New Lifeline After Meme-Stock Bubble Pops
▼ + stars: | 2023-01-20 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

The meme-stock phenomenon is on its last legs, and no company is feeling the comedown more than movie-theater chain AMC Entertainment Holdings Inc.AMC deftly surfed the meme-stock wave to raise billions of dollars and help it avoid bankruptcy during the pandemic, but its shares have sunk back to roughly where they were trading before the company caught fire in the online trading community. Box-office receipts are falling short, and the meme-stock premium that helped AMC raise fresh capital has all but evaporated.

The Sundance Film Festival has long been known for premiering some of the most original — and ultimately the most award-winning — indie titles of the year. As the most notable international film festivals increasingly feature queer titles in their lineups, it’s no surprise that much of the exciting content premiering at this year’s Sundance Film Festival comes from LGBTQ filmmakers or features queer themes. The Premieres sectionAs usual, many of the year’s most high-profile films, including those from queer creators and featuring queer storylines, are coming out of the festival’s Premieres section. Courtesy of Sundance InstituteEnglert’s film will screen in the world cinema dramatic section alongside queer films “Girl,” from U.K. filmmaker Adura Onashile, and “Mamacruz,” from Spanish director Patricia Ortega. The list of LGBTQ creators and titles doesn’t end there, making this perhaps the most significant Sundance Film Festival for queer cinema yet.

☆ Cineworld Grapples With Box-Office Slump as It Seeks a Sale in Bankruptcy
▼ + stars: | 2023-01-05 | by ( Akiko Matsuda | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bankrupt movie-theater chain Cineworld Group PLC said it continues to miss its box-office projections due to challenging market conditions as it gears up to sell itself out of chapter 11. Joshua Sussberg, a lawyer for U.K.-based Cineworld, owner of Regal Cinemas, told Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston, Texas, on Wednesday that the company’s restructuring effort since its bankruptcy filing in September has been hindered by the lackluster box-office performance.

☆ Financial Firm Beneficient Pushed Boundaries Before Bond Program’s Collapse
▼ + stars: | 2022-12-23 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

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☆ AMC Held Talks About Acquiring Theaters From Bankrupt Cineworld
▼ + stars: | 2022-12-21 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

AMC Entertainment Holdings Inc. held discussions regarding a potential strategic acquisition of theaters from its rival, the bankrupt Cineworld Group PLC, according to a securities filing by AMC on Wednesday. AMC’s deal talks were held with certain lenders to Cineworld, who have a powerful role in that company’s bankruptcy process. The talks focused on AMC acquiring theater assets of Cineworld in the U.S. and Europe, and how such a deal would be financed.

☆ 6 key Disney executives working with Bob Iger to remake former CEO Bob Chapek's business structure
▼ + stars: | 2022-12-18 | by ( Lucia Moses | Alison Brower | ) www.businessinsider.com time to read: +8 min

Disney CEO Bob Iger has returned to a company facing significant pressures on its linear and streaming businesses. He'll also need to unwind the business structure implemented in 2020 by his short-lived predecessor, Bob Chapek — which separated budgeting and distribution decisions from creative content development. Alan Bergman, chairman, Disney Studios ContentAlan Bergman. Disney Interactive/Reuters/Jonathan AlcornPitaro is close to Iger, has a long tenure at Disney, and has a foot in both creative and business sides. Dana Walden, chairman, Disney General Entertainment ContentDana Walden.

Avaya Holdings Corp. is nearing a chapter 11 bankruptcy filing to restructure its balance sheet as it looks to turn around its business and move past problems surrounding the company’s accounting, people familiar with the matter said. Avaya disclosed earlier this week it has reviewed various restructuring proposals from competing creditor groups. One plan, supported by a senior lender group including Apollo Global Management , would significantly reduce Avaya’s debt load through chapter 11, wipe out shareholders and, pending the completion of an internal investigation into controls over financial reporting, provide directors and executives with releases from potential litigation.

☆ I'm the guy behind 'Pizza Rat.' The 7-year-old viral video still makes me money, got me my current job, and may even pay for my future home.
▼ + stars: | 2022-12-13 | by ( Andrew Ward | ) www.businessinsider.com time to read: +6 min

Matt Little is a creative director from New York whose "Pizza Rat" video went viral in 2015. He says going viral didn't change his financial situation completely, but it makes him money today. A clip of "Pizza Rat" on the move, from Little's 2015 YouTube video. If you've seen Pizza Rat on late-night TV, ads, or events, it's likely been legally signed off by a licensing firm and me. Jukin helps find requests I get for the Pizza Rat video and brand, handles unlicensed usage, and helps ensure essential negotiation specifics are in deals.

☆ FTX Hires Forensic Team to Probe Money Trail
▼ + stars: | 2022-12-07 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

FTX’s new management has hired a team of forensic investigators from advisory firm AlixPartners to help track the billions of dollars that have gone missing from the failed cryptocurrency exchange, people familiar with the matter said. The AlixPartners team is led by Matt Jacques, a former chief accountant for the Securities and Exchange Commission’s enforcement division, people familiar with the matter said. Mr. Jacques didn’t respond to a request for comment. AlixPartners...

The collapse of cryptocurrency exchange FTX has opened a hornet’s nest of squabbles between foreign governments and its new U.S. chief executive, John J. Ray III . In Cyprus, the country’s securities regulator is complaining that Mr. Ray’s decision to place FTX in bankruptcy has stymied investigations and is preventing European customers from getting their money back. Officials in the Bahamas, where FTX moved its headquarters last year, are accusing Mr. Ray of making false statements and suggesting that his team is motivated by the prospects of earning hefty legal fees. In Turkey, authorities have seized the assets of FTX’s local subsidiary, an affront to Mr. Ray’s efforts to sweep FTX’s assets into the chapter 11 process in Delaware.

☆ 6 Disney executives Bob Iger will trust to drive his new strategy as he radically remakes the business structure implemented by former CEO Bob Chapek
▼ + stars: | 2022-11-30 | by ( Lucia Moses | Alison Brower | ) www.businessinsider.com time to read: +8 min

The returning CEO will have to unwind the business structure implemented by Bob Chapek while finding a successor. Disney CEO Bob Iger returns to a company facing significant pressures on its linear and streaming businesses. He'll also need to unwind the business structure implemented in 2020 by his short-lived predecessor, Bob Chapek — which separated budgeting and distribution decisions from creative content development. Alan Bergman, chairman, Disney Studios ContentAlan Bergman. Dana Walden, chairman, Disney General Entertainment ContentDana Walden.

☆ BlockFi Files for Bankruptcy as Latest Crypto Casualty
▼ + stars: | 2022-11-28 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

☆ Crypto Lender BlockFi Follows FTX Into Bankruptcy
▼ + stars: | 2022-11-28 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

Cryptocurrency lender BlockFi Inc. filed for chapter 11 on Monday, following FTX into bankruptcy and spotlighting the contagion effects that the failure of the crypto exchange has unleashed. BlockFi blamed its chapter 11 filing on the downturn in cryptocurrency prices this summer and this month’s failure of FTX, a big exchange with ties throughout the largely unregulated industry. FTX’s affiliated trading firm, Alameda Research, defaulted on $680 million owed to BlockFi earlier this month, the firm disclosed in court papers.

☆ A short seller betting against this UK grocer says its shares could plunge by over 40%
▼ + stars: | 2022-11-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

There's more pain to come for investors in British grocery technology company Ocado , according to short seller Chris Dale. The chief investment officer at Kintbury Capital expects Ocado's shares to fall a further 45% from Wednesday's close of £6.60 down to about £3.75 ($4.52) a share. The short interest in Ocado has risen to more than 4% of its stock in recent months after a two-year lull. AHL Partners, AQR Capital, Gladstone Capital and D. E. Shaw & Co. are the other firms currently holding a significant short position in Ocado. Earlier this month, Ocado's shares soared by 32% after a new deal to construct six CFCs for South Korea's Lotte Shopping was announced.

Cryptocurrency lender BlockFi Inc. is preparing a potential bankruptcy filing after halting withdrawals of customer deposits and acknowledging it has “significant exposure” to bankrupt exchange FTX, people familiar with the matter said. BlockFi paused withdrawals and limited activity on its platform last week, saying it couldn’t operate business as usual given the uncertainty about FTX. BlockFi is now planning to lay off some of its workers while the troubled firm prepares for a possible chapter 11 itself, people familiar with the matter said.

☆ FTX In Contact With Prosecutors As Bankruptcy May Touch One Million Customers
▼ + stars: | 2022-11-15 | by ( Alexander Gladstone | ) www.wsj.com time to read: 1 min

FTX Trading Ltd. said in court papers Monday that over the past 72 hours it has been in contact with the U.S. Attorney’s Office and dozens of federal, state and international regulatory agencies, and that up to a million customers may be affected by its sudden collapse into bankruptcy. The bankrupt cryptocurrency exchange said that its newly-appointed chief executive, John J. Ray III, has begun working to secure customer assets and FTX property around the world, including by halting trading and withdrawal functions on its exchanges and moving as many digital assets as possible to a new “cold wallet” custodian.

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