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☆ Buyouts are getting complicated
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

The terms say that the buyer cannot be forced to close before Oct. 15 – seven months after the deal’s announcement. A Tuesday proxy filing shows that’s to give Platinum enough time to sort out its debt financing. Qualtrics, meanwhile, sold in March for $12.5 billion – but it turns out it almost got more. An unnamed bidder offered $21 per share, more than the $18.15 that Qualtrics accepted from Silver Lake and CPP Investments. Buyouts are getting done, but they’re also getting complicated.

☆ Self-made millionaire Bethenny Frankel shares the No. 1 negotiation tip that made her rich: 'It changed my entire life'
▼ + stars: | 2023-04-12 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The reality TV alumna, who later founded the Skinnygirl lifestyle brand and became a self-made millionaire entrepreneur, agreed to a payment of just $7,250 for the hit Bravo TV show's first season, she said in a recent Instagram Reel. But she didn't let the network take a percentage of anything she made on her own, a move that "changed my entire life," she added. Frankel crossed out that section of the contract, and Bravo agreed to her terms, she said. A year later, Frankel founded Skinnygirl, which was initially built around selling pre-packaged, low-calorie margaritas. Shortly after, Frankel sold Skinnygirl Cocktails to Beam Global for an estimated $100 million dollars, keeping the rights to the "Skinnygirl" name.

☆ Elderly Swiss women bring European court's first climate case
▼ + stars: | 2023-03-30 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

STRASBOURG, March 29 (Reuters) - Thousands of elderly Swiss women have joined forces in a groundbreaking case heard on Wednesday at the European Court of Human Rights, arguing that their government's "woefully inadequate" efforts to fight global warming violate their human rights. More than 100 supporters and climate activists from Greenpeace gathered outside the courtroom, holding banners and flowers. Stefanie Brander, a member of the association Senior Women for Climate Protection, said that she felt the government had underestimated the group until now. [1/8] A group from the Senior Women for Climate Protection association hold banners outside the European Court of Human Rights in Strasbourg, France March 29, 2023. The Swiss government, which twice won in domestic courts in a six-year legal battle, has argued that the case is inadmissible.

☆ Asylum seekers cross Rio Bravo into US
▼ + stars: | 2023-03-30 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

Migrants cross the Rio Bravo river with the intention of turning themselves in to U.S. Border Patrol agents, as seen from Ciudad Juarez, Mexico March 29, 2023. Dozens of migrants, mostly Venezuelan, crossed the Rio Grande on Wednesday from Mexico...moreMigrants cross the Rio Bravo river with the intention of turning themselves in to U.S. Border Patrol agents, as seen from Ciudad Juarez, Mexico March 29, 2023. Dozens of migrants, mostly Venezuelan, crossed the Rio Grande on Wednesday from Mexico into El Paso, Texas, following the deaths of dozens of migrants in a fire at a detention centre in the border city of Ciudad Juarez. REUTERS/Jose Luis GonzalezClose

☆ Mansion mayhem: New LA tax wreaks havoc among mansion-owners
▼ + stars: | 2023-03-30 | 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 EmailMansion mayhem: New LA tax wreaks havoc among mansion-ownersHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Josh Altman, Bravo’s “Million Dollar Listing LA”, joins the show to discuss a new law in Los Angeles that's cause mansion owners to sell their homes.

☆ Over 1,000 migrants, angered by asylum policies, rush to U.S.-Mexico border
▼ + stars: | 2023-03-30 | by ( Lizbeth Diaz | ) www.reuters.com time to read: +4 min

Migrants said a new U.S. government app meant to streamline the process of securing asylum appointments from outside the United States has left them feeling fed up and helpless. A false rumor circulated on social media Wednesday that migrants surrendering at a specific spot at the border would be able to freely cross into U.S. territory. As they waited for a chance to cross the border, Border Patrol agents and Texas National Guard troops stood motionless in front of the massive metal gate, preventing them from getting through. Multiple migrants said they tried unsuccessfully to obtain a virtual appointment to start the asylum process in the U.S. Since the Biden administration rolled out the app in January, asylum seekers have complained of glitches, high demand, and a lack of appointments.

☆ 35 secret terms only cruise workers know — and the ones you don't want to hear as a passenger
▼ + stars: | 2023-03-29 | by ( Hannah Towey | ) www.businessinsider.com time to read: +7 min

Cruise workers have their own secret language they use to communicate with one another. That's because crew members have dozens of secret code words and sayings they use to communicate while keeping passengers in the dark. Insider compiled a dictionary of cruise ship language based on interviews with cruise workers, previous reporting, and industry blogs. GUSTAVO GRANADO/AFP via Getty ImagesBabaloo: Alternatively spelled "Babalu," this is widespread cruise worker slang that means "fool" or "idiot." Cruise to Nowhere: Also called a "stay-cation" by some cruise workers, this is when a ship cruises at sea without stopping at any ports.

☆ Russian man who was prosecuted after 13-year-old daughter's anti-war drawing now appears to be on the run
▼ + stars: | 2023-03-28 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Alexei Moskalev was sentenced Tuesday to two years behind bars for alleged antiwar social media posts. Moskalev was prosecuted after school authorities found antiwar drawings by his 13-year-old daughter. Alexei Moskalev was sentenced Tuesday to two years in a penal colony for the alleged posts, which he has denied penning. In the drawing, a mother and child can be seen holding hands and standing next to the Ukrainian flag as missiles approach them from the Russian side. According to Human Rights Watch, people have since been prosecuted for merely displaying the colors of the Ukrainian flag, blue and yellow.

☆ Spain tells 'fire tourists' to stay away from forest blaze
▼ + stars: | 2023-03-26 | by ( Guillermo Martinez | ) www.reuters.com time to read: +2 min

[1/4] A plane throws water over a wildfire in Pina de Montalgrao, Castellon, following a wildfire raged in eastern Spain, March 26, 2023. REUTERS/Lorena SopenaBARRACAS, Spain, March 26 (Reuters) - Officials urged 'fire tourists' to keep away from blazes raging in eastern Spain on Sunday, saying onlookers were putting themselves at risk and disrupting efforts to quell the flames. Police had spotted 14 cyclists near the scene trying to get a closer look, Gabriela Bravo, the regional head of interior affairs in the Valencia region, told reporters. "We ask once again and above all tourists not to engage in fire tourism, not to approach the perimeter area," she said. In Spain, 493 fires destroyed a record 307,000 hectares of land last year, according to the Commission's European Forest Fire Information System.

☆ Spain firefighters working to control blaze that has destroyed 4,000 hectares
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

VILLANUEVA DE VIVER, Spain, March 25 (Reuters) - Firefighters said on Saturday they had stopped Spain's first major wildfire of the year from spreading further through the eastern Valencia region, where it destroyed more than 4,000 hectares (9,884 acres) of forest and forced 1,500 residents to abandon their homes. In Spain, 493 fires destroyed a record 307,000 hectares of land last year, according to the Commission's European Forest Fire Information System. More than 500 firefighters supported by 20 planes and helicopters were working to bring the blaze under control near the village of Villanueva de Viver, in the Valencia region, emergency services said on Saturday. [1/2] A wildfire burns parts of rural areas in Monte Pino, Spain, March 24, 2023. "On Saturday morning, airplanes will try to stop the fire spreading to other communities," Bravo told a news conference on Friday night.

☆ First major fire of year destroys 3,000 hectares in Spain
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +3 min

VILLANUEVA DE VIVER, Spain, March 24 (Reuters) - Spain's first major wildfire of the year raged in the eastern Valencia region on Friday, destroying more than 3,000 hectares (7,413 acres) of forest and forcing 1,500 residents to abandon their homes, authorities said. In Spain, 493 fires destroyed a record 307,000 hectares of land last year, according to the Commission's European Forest Fire Information System. Spain is experiencing a long-term drought after three years of below-average rainfall. A European Commission report this month observed a lack of rain and warmer-than-normal temperatures during the winter, raising drought warnings for southern Spain, France, Ireland, Britain, northern Italy, Greece and parts of eastern Europe. The Commission report warned that low levels of water could affect strategic sectors including agriculture, hydropower and energy production.

The remainder was equity checks by the private equity firms. Typically, debt accounts for between 60% and 80% of the deal consideration, allowing the buyout firms to juice returns. REFINANCING RISKTo be sure, a handful of private equity firms have already been accustomed to this kind of refinancing risk. An upside to the shift toward equity financing, dealmakers say, is that the companies owned by the private equity firms have more cushion to absorb losses if their business deteriorates. Many of the leveraged buyouts that became bankruptcies in the wake of the 2008 financial crisis were the result of private equity firms saddling companies with debt to the hilt.

☆ Succession 101: Money lessons from TV’s dysfunctional empire
▼ + stars: | 2023-03-20 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

"Succession" is filled with instructional business tales – some about what to do and some about what not to do. To tease out key money lessons, we talked to a few leaders in the financial world about their best takeaways. “Someone once told me, ‘All money is green, but not all board members are the same.’ That stuck with me. Liz DavidsonFounder & CEO, Financial Finesse; Author, “Money Strong”Money lesson: Focus on financial independence so you can fulfill your true purpose“The purpose of money is to live your own purpose, but the Roy children are extremely tied financially to their father. You’ll see in Succession where they are compromising on talent by ignoring their paid experts in favor of family.

☆ Vinícius Jr. is being racially abused during LaLiga matches. Why is nobody being punished?
▼ + stars: | 2023-03-15 | by ( Matias Grez | ) edition.cnn.com time to read: +17 min

It has been updated to reflect the persistent racist abuse that Vinicius Jr. was subjected to during Real Madrid’s 1-0 defeat by Valencia on May 21, 2023. ‘Racist campaign against Vinícius’Incidents of players being racially abused by fans have tarred numerous LaLiga matches this season. On May 21, Vinícius was again subjected to racist abuse from the stands, this time during Real’s match against Valencia at the Mestalla stadium. Most cases of racist abuse which LaLiga has referred to local prosecutors have involved Vinícius. The local prosecutor in Mallorca said it is investigating a number of cases of racist abuse at matches.

☆ Lawyers, lies and a housewife: American Greed goes inside the story of Tom Girardi
▼ + stars: | 2023-03-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Personal injury attorney Tom Girardi is a legal legend and courtroom shark. He says he's a champion for the little guy, winning hundreds of millions in settlements for widows, orphans and scores of vulnerable victims. Today, Girardi is facing hundreds of millions of dollars in lawsuits alleging fraud, and his famous namesake law firm has gone bankrupt. Also, Erika had no control over Tom Girardi's firm or finances. Erika turned over her earnings to her husband and his law firm, who handled all finances along with outside accountants."

☆ Private equity firms lend less as demand cools
▼ + stars: | 2023-03-03 | by ( Chibuike Oguh | ) www.reuters.com time to read: +4 min

The amount of loans disbursed by direct lenders so far in 2023 has not shown any pickup, the Refinitiv data shows. Also weighing on deal volumes is the cost of borrowing from private equity firms. This has dampened demand for loans from private equity firms. For their part, private equity firms have also become more risk-averse when it comes to lending, as the economic slowdown and sticky price inflation erode the credit worthiness of some borrowers. To be sure, major deals using private equity firms as lenders are still getting done as banks have continued their retrenchment from risky debt.

☆ The issue is how you turn these great innovators into great businesses, says Thoma's Orlando Bravo
▼ + stars: | 2023-03-03 | 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 EmailThe issue is how you turn these great innovators into great businesses, says Thoma's Orlando BravoOrlando Bravo, Thoma Bravo founder, joins 'Closing Bell: Overtime' to discuss the tech sector, A.I., and software investing.

☆ Watch CNBC’s full interview with Thoma Bravo's Orlando Bravo
▼ + stars: | 2023-03-03 | 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 EmailWatch CNBC’s full interview with Thoma Bravo's Orlando BravoOrlando Bravo, Thoma Bravo, joins 'Closing Bell: Overtime' to discuss the tech sector, AI and software investing.

☆ Salesforce: A New Dawn. CEO Marc Benioff is pivoting the cloud company from family to profitability.
▼ + stars: | 2023-03-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and I'm not just talking about the Selena/Hailey 'mean girls' saga — I'm fascinated by the Salesforce spectacle. CEO Marc Benioff recently oversaw the departure of two leading candidates to inherit the Salesforce throne. Now, under their careful watch, Benioff needs to guide the company through a cost-cutting period — something he's never done before. This is quite the turn, considering he was still emphasizing Ohana after laying off 10% of the company in January. CEO Marc Benioff announced on Wednesday that the company is starting a "new day."

☆ To survive nuclear apocalypse, you may have to eat nothing but mushrooms, rats, and insects
▼ + stars: | 2023-03-01 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +8 min

Survivors could farm mushrooms on dead trees, or eat rats and insects. In order to survive, he says, people would need to adopt sunlight-free agriculture — cultivating mushrooms, rats, and insects. Vincent Kessler/ReutersWhile we're using the wood to grow mushrooms, we could use the dead trees' leaves, too, he said. Dead trees can feed other life forms, like rats and insectsRats, much like mushrooms, can digest cellulose, the sugar that makes up 50% of wood. So anything the mushrooms leave behind could be fed to the rats, Walsh suggests.

☆ The US military set off its largest nuclear explosion in testing 69 years ago, but scientists had no idea the blast would be that big
▼ + stars: | 2023-03-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Dozens of nuclear tests were carried out by the US in the Pacific between 1946 and 1958. The largest of these was the detonation of the Castle Bravo device on March 1, 1954. It was 1,000 times more powerful than the atomic bomb that leveled Hiroshima during World War II. Castle Bravo was a real 'eyeopener'Despite the devastation caused by Castle Bravo, the US military continued to conducting nuclear weapons testing in the Pacific. The US, UK, and Soviet Union signed the Limited Test Ban Treaty in 1963, which barred nuclear weapons testing in the atmosphere, in outer space, and underwater.

☆ F1 team bosses have their own light-bulb moment
▼ + stars: | 2023-02-26 | by ( Alan Baldwin | ) www.reuters.com time to read: +4 min

LONDON, Feb 26 (Reuters) - The late McLaren boss Teddy Mayer liked to compare Formula One drivers to interchangeable light-bulbs, declaring "you plug them in and they do the job", and nowadays the same might be said for team principals. The Frenchman is on his third different team, after stints at Sauber and Renault. "It shows also that the role of the team principal is maybe sometimes also a bit over-rated because if you can change it so quickly and there is no big impact, it tells also something. Sauber, with Swedish billionaire Finn Rausing as chairman of the board, will become the Audi works team from 2026. "But other than that we must not forget that F1 teams have developed into big organisations where the owners are not any more the team principals... some have engineers as team principals, some have more an old-fashioned rule."

☆ Private equity is finally stepping up its tech game. Here's who is leading the charge.
▼ + stars: | 2023-02-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

What's the first thing that pops into your head when you hear the term "private equity?" PE firms do plenty of things quite well (and they are certainly compensated for their work), but their internal tech has never been a top priority. What I find most fascinating about the so-called "digitization" of PE isn't so much the actual tech but the culture. Click here to learn more about the 12 executives helping PE firms get up to speed on cutting-edge tech they can use to source and close deals. Silicon Valley Bank, which is the go-to bank for tech startups, is under pressure amid the market downturn, the Financial Times reported.

☆ PayPal's CEO search amid an uncertain economy will be no easy task
▼ + stars: | 2023-02-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In case you missed it, PayPal CEO and President Dan Schulman announced his plan to retire at the end of 2023 earlier this month. Coming off an extremely difficult 2022, and with competition seemingly coming at them from every which way, PayPal has to find a new CEO. I hesitate to compare this to the seemingly never-ending CEO search at Carlyle, but it's easy to see how a difficult quarter or two could complicate this entire search. The rich stay rich thanks to another loophole that helps them save on taxes. Elliott Management's Paul Singer and Two Sigma's David Siegel both played second fiddle to Haidar Capital's Said Haidar in 2022 when it came to comp.

☆ Biden to roll out new asylum restrictions at U.S.-Mexico border -sources
▼ + stars: | 2023-02-21 | by ( Ted Hesson | ) www.reuters.com time to read: +2 min

[1/3] Migrants queue near the border fence, after crossing the Rio Bravo river, to request asylum in El Paso, Texas, U.S., as seen from Ciudad Juarez, Mexico January 5, 2023. REUTERS/Jose Luis GonzalezWASHINGTON, Feb 21 (Reuters) - The Biden administration could bar tens of thousands of migrants arriving at the U.S.-Mexico border from claiming asylum if they passed through another country en route to the United States without seeking protection, according to a proposed regulation rolling out on Tuesday, five sources told Reuters. The proposed restrictions, which seek to deter people from crossing the border without authorization, will be subject to a 30-day public comment period and then reviewed before final publication, two of the sources said. While Biden initially pledged to restore asylum access that was curtailed under Republican former President Donald Trump, he has increasingly embraced Trump-style restrictions. Biden's plan to ban certain asylum seekers mirrors similar efforts under Trump that were blocked by federal courts.

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