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☆ Spain's conservative PP elbows Socialists out in regional elections
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: +3 min

Spain's ruling Socialists suffered heavy losses to opposition conservatives in Sunday's local election, with around 95% of the votes counted, showing their electoral vulnerability ahead of an end-of-year general election. Only three of the 12 regions holding elections will retain Socialist dominance by very narrow margins, with the rest likely go to the conservative People's Party, albeit with coalitions or informal support agreements with the far-right Vox party. The gains for the People's Party (PP) indicate the conservatives could unseat the current left-wing coalition led by the Partido Socialista Obrero Español (PSOE) if they replicate the performance in national elections by December. The numbers showed few clear majorities, except in the Madrid region where regional president Isabel Diaz Ayuso of the PP looked set to win re-election with an absolute majority. Campaigning had been marked by several controversies, from allegations of voter fraud in small towns to an unprecedented case of kidnapping.

[1/4] Spain's Prime Minister Pedro Sanchez appears after he casts his vote at a polling station during Regional elections, in Madrid, Spain, May 28, 2023. he said in a televised speech that took even some of his political allies by surprise. "...I believe it is necessary to respond and submit our democratic mandate to the will of the people." But it is highly unusual for a Spanish government to call a snap ballot after a poor performance in a regional vote. The PP potentially took as many as eight regional governments from the Socialists, depending on how successful the opposition party is in negotiating alliances with Vox.

☆ MLB roundup: Brewers endure blowout loss, scary injury
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +10 min

Brewers starter Freddy Peralta (5-4) gave up 10 runs (five earned) on eight hits in 2 1/3 innings. Mets 5, Rockies 2Francisco Lindor homered and drove in four runs, Max Scherzer tossed a season-best seven innings and New York beat Colorado in Denver. The Cardinals' Matthew Liberatore (1-1) allowed four runs on five hits in five innings with two walks and two strikeouts. Joe Musgrove (2-2) allowed one run on six hits in 6 1/3 innings and avoided a third straight loss. Twins starter Louie Varland (2-1) gave up three runs and seven hits in six innings.

☆ Mediobanca sells bad loan purchase business ahead of new plan
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

Banca IFIS (IF.MI) agreed to buy Revalea, a unit Mediobanca set up last year by separating purchasing from management of bad debts. It was the second deal announced by Mediobanca in days as it prepares to present a new business plan through 2026 on Wednesday. Revalea, with a staff of 22, holds 6.8 billion euros in unsecured bad loans, which have a net book value (NBV) of 256 million euros. However, by freeing the bank of bad loans, the deal will add around 10 basis points to core capital, it said. The acquisition will allow IFIS to achieve a bad loan purchase target of 30 billion euros in gross terms and 1.8 billion net set out under its 2022-2024 plan.

☆ Mediobanca dips toe into tech M&A shark tank
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

Mediobanca (MDBI.MI), the 8.5-billion-euro financial group run by veteran CEO Alberto Nagel, said on Thursday it had agreed to buy London-based Arma Partners, an advisory boutique that specializes in technology deals. With revenue in excess of $100 million, or about 90 million euros, Arma should add more than 10% to Mediobanca’s annual net fees and commission of 850 million euros. The French boutique’s contribution, although a record, stood at 63 million euros in the financial year that ended in June 2022. Buying Arma allows Mediobanca to gain expertise in growing areas like cloud services, software and cybersecurity, which are outside the Italian bank’s core strengths. Star banker Erik Maris left Mediobanca a year after Nagel clinched the purchase of a 66% stake in the boutique.

Buenos Aires wants faster payouts and easier economic targets. "More than a debt, it's a crime," President Fernandez wrote in a tweet on Thursday, citing a new government auditor report that concluded the original deal had lacked the required impact study and not passed through proper legislative channels. Fernandez, who has criticized the original deal before, called for an investigation "with all the weight of the law." Powerful but divisive Vice President Cristina Fernandez de Kirchner, a previous two-term president, called the original deal "scandalous" and a "scam" of the Argentine people. Macri and the IMF have defended the original deal as necessary to restore Argentina's economic stability.

☆ Mediobanca buys Arma Partners to boost tech advisory offer
▼ + stars: | 2023-05-18 | by ( Valentina Za | ) www.reuters.com time to read: +2 min

The acquisition, which Mediobanca expects to boost its fee income by 10%, comes ahead of a new three-year strategy CEO Alberto Nagel will unveil on May 24. In the same year, it advised Germany's Aareal Bank (ARLG.DE) on the sale of a stake in its $1.1 billion software unit Aareon to Advent International. The deal will boost earnings per share, based on last year's figures, Mediobanca said, without elaborating. With 86 staff and some $100 million in yearly revenue, Arma was founded in 2003 by Paul-Noël Guély, a former head of software and services investment banking at Goldman Sachs. Arma has offices also in Munich, a U.S. presence and a network of affiliated advisory firms in Japan, Australia, Israel, Turkey and Brazil.

☆ Buffett-backed Nubank has AI investments as 'great priority', CEO says
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nubank CEO David Velez talks on stage during the opening of the Web Summit technology conference, in Rio de Janeiro Brazil May 1, 2023. REUTERS/Ricardo MoraesSAO PAULO, May 18 (Reuters) - Investments in artificial intelligence are a "great priority" for Brazilian digital lender Nubank , Chief Executive David Velez said on Thursday, adding that the firm expects to demonstrate it soon as it pushes for expansion. "Five years from now you'll be talking to Nubank in your self-driving car, you'll be talking to Nubank in your home," Velez told reporters. Nubank debuted on the New York Stock Exchange in late 2021 raising nearly $2.6 billion. She added Nubank also sees growth opportunity in Mexico as "much bigger" than in Brazil at the moment.

☆ Why Prosecutors Waited Before They Charged Daniel Penny
▼ + stars: | 2023-05-17 | by ( Maria Cramer | ) www.nytimes.com time to read: +1 min

Mr. Penny was questioned by the police and released on the day Mr. Neely died, a decision that drew condemnation from many political leaders on the left and protesters. Witnesses said that Mr. Neely was behaving in a “hostile and erratic manner,” according to the police. The police arrived within six minutes of a 911 call, but several witnesses, including Mr. Vazquez, had left before they arrived. The medical examiner’s office did not rule on a cause of death until two days later. Mr. Penny was not considered a flight risk or a danger to the public.

☆ Brazil's StoneCo beats profit expectations, sees further revenue growth
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, May 17 (Reuters) - Brazilian financial tech firm StoneCo (STNE.O) on Wednesday posted a better-than-expected first-quarter profit, while also predicting further revenue growth for the second quarter. The firm reported adjusted net profit of 236.6 million reais, more than five times the figure reported a year ago and above analysts' estimate polled by Refinitiv of 215.8 million reais. Revenue grew 31% in the period to 2.71 billion reais, also above the expected 2.67 billion reais, boosted by solid growth in the firm's financial services platform. The company also forecast revenue of 2.875 billion reais for the second-quarter, which would represent a growth of 24.8% over the previous year. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile came in at 1.251 billion reais, a 55.7% increase year over year, but slightly below the expected 1.3 billion reais.

☆ Argentina's Kirchner says she won't run for president, slams IMF
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, May 16 (Reuters) - Argentine Vice President Cristina Fernandez de Kirchner said on Tuesday she will not run for president in the elections scheduled for October, claiming that the country's judicial system would disqualify her after her high-profile corruption case. In a post on her blog, Fernandez de Kirchner, who served as president for two terms between 2007 and 2015, said she would not enter into a "perverse game" or a "democratic facade" that would result in the judicial system disqualifying her. Late last year, Fernandez de Kirchner - who commands rock-star crowds of supporters - was sentenced to six years in jail on corruption charges, disqualifying her from holding public office. The ruling Peronist government of President Alberto Fernandez is facing a tough battle to fend off a challenge from the conservative opposition in the 2023 election. In her blog, Fernandez de Kirchner also harshly criticized the International Monetary Fund, with which the country has a $44 billion loan deal, blaming it of "accelerating" Argentina's inflation, which topped 109% in April.

☆ MLB roundup: Jorge Soler's walk-off HR pushes Marlins past Nats
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +12 min

Washington's Josiah Gray threw 104 pitches in seven innings, allowing two runs (one earned) and striking out five. Miami's Jesus Luzardo, who threw 93 pitches in six innings, allowed one run and struck out seven. Blue Jays right-hander Kevin Gausman allowed three runs (two earned), five hits and two walks while striking out 10 in seven innings. Pirates starter Luis Ortiz (0-2) allowed four runs (three earned) and seven hits in three-plus innings. White Sox right-hander Lance Lynn (2-5) allowed three runs (one earned) and seven hits in seven-plus innings.

☆ Argentina's ruling Peronist party wins provincial elections
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

May 14 - Argentina's ruling Peronist party posted strong wins in elections Sunday, appearing to hold control over three provinces just months ahead of presidential elections in which support for the party is flagging. The results come as a relief to President Alberto Fernandez's ranks as economic unrest has shaken the party's hold over the country. Fernandez has said he is not seeking re-election, however a Peronist coalition is still aiming to hold onto power. Although the outcome is good news for the party, its fate in the presidential elections will likely be decided in more populous provinces, such as Buenos Aires, Cordoba, Santa Fe and Mendoza. Reporting by Maximilian Heath; Writing by Kylie Madry; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Argentina raises interest rate to 97% as it struggles to tackle inflation
▼ + stars: | 2023-05-15 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +2 min

CNN —The Central Bank of Argentina raised its key interest rate Monday by six percentage points to 97% in an effort to tackle soaring inflation that has reached 30-year highs. Central banks across the globe are struggling to rein in inflation, but it’s a particular problem in Argentina, where the annual inflation rate soared above 100% last month. (By comparison, inflation hovers below 5% in the US, where the central bank has raised key interest rates by five percentage points over 14 months.) Argentina’s central bank is also hoping the rate hike will incentivize investments in the country’s currency, according to the central bank’s statement released Monday. “When a central bank raises the interest rate, the effects are felt some two or three months afterward, and that timescale is not effective in Argentina’s situation.”— Elisabeth Buchwald contributed reporting.

☆ Opinion: DeSantis’ comments about Jordan Neely’s death are part of a dangerous pattern
▼ + stars: | 2023-05-15 | by ( Opinion Dean Obeidallah | ) edition.cnn.com time to read: +6 min

Editor’s note: Dean Obeidallah, a former attorney, is the host of SiriusXM radio’s daily program “The Dean Obeidallah Show.” Follow him @DeanObeidallah@masto.ai. CNN —We are seeing an alarming pattern emerge in which some GOP leaders defend — and even pledge to pardon — people charged with or convicted of killing a person. “The unfortunate result was the unintended and unforeseen death of Mr. Neely.”Penny has received support from a score of right-wing figures. Instead, DeSantis is sending a message that if you are supported by the GOP base, we may have your back, even if you are charged in someone’s death. After Perry’s conviction, many on the right demanded GOP Texas Gov.

The measures include an interest rate hike by the central bank, the economy ministry said in a statement. The ministry did not elaborate, but an official source told Reuters the hike would be 600 basis points, bringing the rate up to 97%. The rate hike will take effect Monday, the source added. The South American nation is battling to bring down inflation that hit 109% on an annual basis in April. The central bank will also increase its intervention in the foreign-exchange market and double down on its currency devaluation plan, the ministry said.

☆ Spanish scientists seek to crack mystery of Canaries skeleton cave
▼ + stars: | 2023-05-09 | by ( Borja Suarez | ) www.reuters.com time to read: +1 min

Evidence at the Caleta de Arriba site points to a violent death centuries ago which could pre-date the 15th century Spanish conquest of the archipelago off northwest Africa. This is a funerary practice that denotes very strong symbolic violence," explained Veronica Alberto, head of the excavation. [1/6] Archaeologist Veronica Alberto from Tibicena, an archaeology company, works on the extraction of human remains, in Galdar, on the island of Gran Canaria, Spain March 9, 2023. Without objects to help establish the period, scientists are waiting for radiocarbon dating tests on the bones. All six had strong arms, suggesting they were involved in the same type of physical activity.

☆ After ChatGPT, AI startups are poised to boom. See 16 pitch decks used by founders in generative AI, health, and enterprise.
▼ + stars: | 2023-05-09 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

See 16 pitch decks used by AI founders using the tech in everything from health to fintech. V7Generative AI, media, and designSupernormal, a generative AI startup that automates meeting notes, just raised $10 million. This AI startup helps Big Tech firms compress videos while maintaining quality. These 3 founders are using AI to analyze patients' biological profiles and recommend drugs. This AI startup helps firms like TrueLayer and CurrencyCloud meet their revenue targets.

☆ MLB roundup: Down 6, Rays stun Gerrit Cole, Yanks
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +12 min

Cole gave up six runs (five earned) and eight hits, striking out six and walking two in his five-plus innings. The winning pitcher was Michael Tonkin (3-1), who did not allow a hit over two scoreless innings. Lourdes Gurriel Jr. homered twice, scored four runs and had four RBIs and Christian Walker also homered for Arizona, which had its win streak snapped at three. Pittsburgh starter Roansy Contreras (3-3) allowed five runs and nine hits in five innings, with four strikeouts and three walks. Yarbrough allowed one run on three hits over 5 2/3 innings, his longest start since July last year with the Tampa Bay Rays.

☆ MLB roundup: Red Sox drop Phils for 8th straight win
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +12 min

Boston's Rob Refsnyder ripped a two-run double, Christian Arroyo had a two-run single and Reese McGuire added an RBI single for the Red Sox, who have scored 59 runs during their eight-game winning streak. After Willie Calhoun popped out with two runners on, Bader put the Yankees ahead with a two-run single to right field. He worked a perfect ninth inning, striking out two, to earn his first save. Alejandro Kirk added an RBI double and Daulton Varsho an RBI single for the Blue Jays, who entered the series with a five-game losing streak. Jack Suwinski homered and Connor Joe had an RBI single for the Pirates, who lost their sixth in a row.

☆ Jordan Neely: The man who held New York subway passenger in a fatal chokehold 'never intended to harm' him, his attorneys say
▼ + stars: | 2023-05-06 | by ( Aya Elamroussi | ) edition.cnn.com time to read: +5 min

“Daniel never intended to harm Mr. Neely and could not have foreseen his untimely death,” the statement said. As soon as Neely got on the train, he started yelling about being “fed up and hungry” and “tired of having nothing,” Vazquez told CNN. Neely did not appear to be armed or looking to attack anyone, Vazquez told CNN. In the video recorded by Vazquez, Neely and Penny are seen on the floor of a subway car with Penny’s arm wrapped around Neely’s neck. One appeared to be mediating the situation while the other seemed to help Penny restrain Neely, according to Vazquez.

☆ ‘Maimonides’ Review: The Greatest Jewish Thinker, in Brief
▼ + stars: | 2023-05-05 | by ( Adam Kirsch | Alberto Manguel | ) www.wsj.com time to read: +1 min

Moses Maimonides on a 1953 Israeli stamp. Photo: AlamyThe 12th-century sage regularly described as the greatest Jewish thinker of all time leads a double life for posterity. To this day, students in yeshivas turn to the Rambam’s magnum opus, the comprehensive legal code known as the Mishneh Torah, in navigating the complexities of Jewish law. In this context, the book that matters is the “Guide for the Perplexed,” the philosophical treatise Maimonides wrote in Arabic around the year 1190. The “Guide,” too, speaks the language of Judaism, but the questions it addresses aren’t practical and legal, as in the Mishneh Torah, but speculative and metaphysical.

Penny is the man who choked Neely on the F train, a former senior law enforcement official confirmed. A former senior law enforcement official confirmed to Insider that Daniel Penny was the man who is seen on video placing Neely in a chokehold before his death. The video shows Penny and two other men holding Neely on the floor of the subway car until Neely stopped moving. Neely appeared to stop moving as Penny applied a chokehold on the floor of the subway train as it idled at Broadway-Lafayette station. On the day of the altercation on the subway, Penny was wearing a sweatshirt from a Long Island surf shop and a hat with the logo of an Australian surf brand.

☆ MLB roundup: Orioles score 13, take another series
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +8 min

After mounting an 8-1 advantage in the third, the Orioles surrendered the lead on eight straight Royals runs. Marlins left-hander Jesus Luzardo (2-2) allowed seven hits, three walks and four runs (three earned). Rays 3, Pirates 2Zach Eflin threw seven shutout innings to help host Tampa Bay complete a three-game sweep of Pittsburgh. The Red Sox put up a series-high 16 hits -- delivering one more hit in each successive game of the series after 13 on Monday. George Kirby (3-2) allowed three runs and seven hits in his seven-inning start.

☆ Jordan Neely: Man dies after being put in a chokehold by another rider on New York City subway, officials say. The DA is investigating
▼ + stars: | 2023-05-04 | by ( Brynn Gingras Laura Ly Maria Santana | Brynn Gingras | Laura Ly | ) edition.cnn.com time to read: +5 min

CNN —Manhattan prosecutors are conducting a “rigorous ongoing investigation” into the death of a man seen in video being put in a chokehold by another rider on the New York subway. Jordan Neely, 30, died Monday due to “compression of neck (chokehold),” a spokesperson for the New York City Office of the Chief Medical Examiner said. Another rider then approached Neely from behind and put him in a chokehold, Vazquez said. New York police officers respond after a man riding the subway was placed in a chokehold by another passenger. The man who put Neely in the chokehold has been identified as a 24-year-old from Queens, a law enforcement source said.

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