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☆ MediaMath founder Joe Zawadzki's 'Project Phoenix' looks to raise at least $10 million to help buy back the bankrupt adtech company
▼ + stars: | 2023-08-11 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

"Project Phoenix" is seeking to raise at least $10 million in a SAFE financing. Project Phoenix is being operated by team members of Zawadzki's VC fund AperiamVentures. Project Phoenix, registered as Phoenix Project Acquisition Inc., is raising the investment with a "post-money valuation cap" of $20 million — the maximum price at which investors can convert their SAFE investment notes into equity. A person familiar with the matter said it was likely Project Phoenix would need to raise further funds if it wins the auction. Correction: August 11, 2023 — An earlier version of this story misstated the date of bankruptcy auction.

Persons: Joe Zawadzki, Jeffrey Hirsch, Zawadzki, Hirsch didn't, MediaMath, MediaMath's Organizations: Phoenix, Inc, Google Locations: AperiamVentures, Delaware, York

☆ Saguaro cacti collapsing in Arizona extreme heat, scientist says
▼ + stars: | 2023-07-25 | by ( Liliana Salgado | ) www.reuters.com time to read: +1 min

PHOENIX, July 25 (Reuters) - Arizona's saguaro cacti, a symbol of the U.S. West, are leaning, losing arms and in some cases falling over during the state's record streak of extreme heat, a scientist said on Tuesday. [1/4]View of a Saguaro, a resilient desert cacti affected by Arizona's extreme heat and prolonged drought, in Phoenix, Arizona, U.S., July 25, 2023. REUTERS/Liliana SalgadoPlant physiologists at the Phoenix garden are studying how much heat cacti can take. Arizona's heat wave is testing those assumptions. Cacti in Phoenix are being studied as the city is a heat island, mimicking higher temperatures plants in the wild are expected to face with future climate change, Hernandez said.

Persons: Tania Hernandez, Hernandez, Liliana Salgado Plant, Liliana Salgado, Andrew Hay, Sandra Maler Organizations: PHOENIX, U.S ., REUTERS, Thomson Locations: Phoenix, Phoenix , Arizona, U.S

It has been a heat wave that has given pause to many Phoenix residents, even to summer-tested veterans like Shields, who says he's been avoiding news reports about it. REUTERS/Liliana Salgado/File PhotoDespite the trend toward more very hot days, Phoenix residents have tended to shrug off the heat, he said. Phoenix is getting some of the worst of it, as the air mass is centered right over the Southwest. "This is not your typical summer heat." Asphalt temperatures can reach 160 degrees F (71 C) in the summer, the Arizona Humane Society wrote on its blog.

Persons: Michael Shields, Shields, he's, David Hondula, Adam Waltz, Waltz, Liliana Salgado, Zack Taylor, Taylor, Phoenix, It's, Emily Luberto, Cooper Burton, Sharon Bernstein, Rachel Nostrant, Rich McKay, Aurora Ellis, Jonathan Oatis Organizations: National Weather Service, Phoenix, Phoenix Parks, REUTERS, Center, Northern Arizona University, Arizona Humane Society, Thomson Locations: Phoenix, Arizona, Maricopa, Piestewa, Phoenix , Arizona, U.S, Oregon, West Coast, Texas, Alabama, College Park , Maryland, Vegas, Mesa, Flagstaff

It has been a heat wave that has given pause to many Phoenix residents, even to summer-tested veterans like Shields, who says he's been avoiding news reports about it. By 2050, they estimated, Phoenix residents are expected to see an average of 44 days per year over that temperature. REUTERS/Liliana SalgadoDespite the trend toward more very hot days, Phoenix residents have tended to shrug off the heat, he said. "This is not your typical summer heat." Asphalt temperatures can reach 160 degrees F (71 C) in the summer, the Arizona Humane Society wrote on its blog.

☆ The Grayscale Bitcoin Trust is getting a boost from BlackRock. Here's what you need to know
▼ + stars: | 2023-06-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The Grayscale Bitcoin Trust (GBTC) , which has long traded at a steep discount to its net asset value, rose 12.8% on Friday after BlackRock filed to launch a spot bitcoin ETF. GBTC 5D mountain The Grayscale Bitcoin Trust has rallied more than bitcoin in recent days. The proposed BlackRock fund would also use Coinbase as a custodian for cryptocurrency, even though Coinbase was recently sued by the SEC . "If BlackRock is getting an ETF, I would want to own the BlackRock ETF. Wilshire Phoenix's wShares has a pending registration filing for its own bitcoin trust, but that product is not an ETF.

Persons: bitcoin, Bryan Armour, Armour, Coinbase, Gary Gensler, Pat Tschosik, Ned Davis, Tschosik, GBTC, William Cai, Cai Organizations: BlackRock, Securities, Exchange Commission, SEC, North America, Morningstar, Ned, Ned Davis Research, NDR, wouldn't, Wilshire Locations: BlackRock, bitcoin, Wilshire Phoenix, GBTC

☆ These 5 charts capture a rollercoaster 15 months for stocks, bonds, and crypto as the Fed pauses its tightening campaign
▼ + stars: | 2023-06-15 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Over the past 15 months, its monetary-tightening campaign fueled wild swings for stocks, bonds, and cryptocurrencies. The central bank didn't raise interest rates at the end of its June meeting Wednesday, opting not to lift borrowing costs for the first time in over 15 months. Stocks, bonds, and cryptocurrencies have all swung wildly over that period – and these five charts capture some of that chaos. When interest rates rise, stocks tend to fall because investors are able to earn better returns by parking their cash in a savings account, rather than buying shares in listed companies. Bond yields spikeBond prices also tend to slide when interest rates rise, again because would-be buyers can earn higher yields by depositing their cash in a bank.

Persons: —, –, Jerome Powell, they've Organizations: Federal Reserve, Service, Stock, Fed, Nasdaq, Dow Jones, Silicon Valley Bank, JPMorgan Chase, Western Alliance, Bitcoin Locations: Silicon, Francisco's, Beverly Hills

☆ Griner plays in WNBA for first time since Russia detention
▼ + stars: | 2023-05-13 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

"I didn't think I would be sitting here. I didn't think I would be playing basketball this quickly," Griner told reporters after the Sparks handed them a 90-71 loss. Griner was greeted to roars of celebration at Phoenix's Footprint Center on Friday as she exited the tunnel and strode onto the court. "I didn't feel like I was gassed or dying," said Griner, who offered a withering self-appraisal of her defensive performance. The two-time WNBA scoring champion has been subject to enormous media interest since her return to the United States, using her super-sized platform to champion the cause of other Americans detained abroad.

☆ Jokic fined $25,000, will not be suspended for Ishbia incident
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Denver Nuggets center Nikola Jokic will not face a suspension after making contact with Phoenix Suns owner Mat Ishbia during Game 4 of their conference semi-finals playoff series on Sunday. The NBA handed Jokic a $25,000 fine after he made contact with Ishbia in an attempt to take the game ball away from him and again when the game ball went further into the crowd at Phoenix's Footprint Center. The Suns won Game 4 129-124 to level the series. Ishbia previously said on Twitter that Jokic, a two-time MVP, should not receive a suspension. I have a lot of respect for Jokic and don’t want to see anything like that," he said.

☆ Affordable housing is the best way to prevent heat-related deaths, Phoenix's chief heat officer says
▼ + stars: | 2023-04-06 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +7 min

Phoenix's chief heat officer says more affordable housing will prevent heat-associated deaths. "It can be a little shocking," Hondula, director of the city's office of heat response and mitigation, told Insider. All these factors led Phoenix in 2021 to establish the country's first publicly funded heat office, with Hondula at the helm. Gallego told Insider in a statement that she and other city staff are working daily to address this issue. Hondula, for his part, said the heat office needs to be the biggest advocate for investments in affordable housing and homelessness services inside City Hall.

☆ Phoenix residents are transforming their homes to save energy and conserve water as climate scientists warn of an ever-worsening crisis
▼ + stars: | 2023-03-23 | by ( Aj Latrace | ) www.businessinsider.com time to read: +9 min

Its desert climate inspires builders whose designs prioritize conserving both water and energy. A construction worker installing wood-fiber insulation boards over an airtight membrane of the Vali Mews townhouse development in Phoenix. In 2021, of the more than 120,000 Energy Star-certified homes that were built in the US, Arizona built the highest share, 17%, or 20,140 homes. Arizona builders that tout their energy-efficient homes include Fulton Homes, Maracay Homes, and Meritage Homes. Gerald Leenerts used natural Havelock Wool insulation for his accessory dwelling unit instead of spray foam or fiberglass insulation.

☆ The 'Airbnbust' proves the Wild West days of online vacation rentals are over
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. But short-term rentals are often essential to a healthy tourism economy, particularly in vacation destinations. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

☆ The battle over Airbnb has hit a breaking point
▼ + stars: | 2023-03-22 | by ( James Rodriguez | Dan Latu | ) www.businessinsider.com time to read: +16 min

"We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. Rather than a collapse of the industry, the increasingly bifurcated state of the market — a bust for some, a boom for others — is a clear sign that we have hit a turning point in the long-running battle over short-term rentals. Given the sharp rise of short-term rentals there, some local lawmakers have recently called for amending the law. Investors jumped in to capitalize on the boom, and the market soon became saturated with short-term rentals. There's one thing pretty much everyone can agree on: Short-term rentals are here to stay.

☆ NBA roundup: Red-hot Knicks outlast Celtics in double OT
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +10 min

Julius Randle added 31 points and nine rebounds for the Knicks, who also received 29 points and 11 rebounds from RJ Barrett. Jayson Tatum had 40 points, 11 rebounds and six assists for the Celtics, who have lost their last two home games. Bennedict Mathurin scored 17 points, Myles Turner added 16 and Chris Duarte had 15 for Indiana. Kelly Oubre Jr. scored 17 points for Charlotte, which dropped its third straight. Walker Kessler (17 points, 10 rebounds) and Kelly Olynyk (15 points, 10 rebounds) each had double-doubles in the loss.

The city of Phoenix's aviation department, which runs the Phoenix Sky Harbor International Airport, has launched a childcare program for airport workers and plans to build a childcare facility on airport property. Since its launch, 37 airport workers have joined the program, which covers daycare costs partially. At Kelowna International Airport in British Columbia, Canada, construction is underway for a daycare primarily for children of employees who work on airport property. Cincinnati/Northern Kentucky International Airport is similarly weighing offering childcare on-site or nearby in a bid to offer attractive benefits to workers, said airport spokesperson Mindy Kershner. And then there are others - like Jared Barker, a 33-year-old baggage handler at Minneapolis–Saint Paul International Airport who quit and left the industry altogether last year after mass departures during the pandemic led to a heavier workload.

☆ NBA roundup: Bucks win ninth straight as Lakers rest LeBron James
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +3 min

Khris Middleton scored 22 points off the Milwaukee bench, and Jrue Holiday finished with 18 points, seven rebounds and seven assists. Nikola Vucevic added 15 points and 17 rebounds and DeMar DeRozan finished with 14 points. Cole Anthony and Bol Bol scored 17 apiece as the Magic won for the third time in four games. Hawks 116, Suns 107Trae Young collected 36 points, 12 assists and seven rebounds to fuel host Atlanta to victory over short-handed Phoenix. Ish Wainright scored 17 points and Chris Paul added 15 points and eight assists for the Suns, who saw their three-game winning streak come to a halt.

☆ A manager of 95 Phoenix Airbnbs is stunned that half his homes are empty over Super Bowl weekend. Is it the latest Airbnbust?
▼ + stars: | 2023-02-10 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Phoenix Airbnb hosts were expecting to be fully booked over Super Bowl weekend. Take a prime three-bedroom two-bathroom home that Kenworthy manages in Scottsdale, a suburb of Phoenix that actively prepped for a wave of Super Bowl visitors. The Super Bowl is being held at State Farm Stadium in Glendale, Arizona. Christian Petersen/Getty ImagesThere are even signs of a recent surge in listings in response to the Super Bowl hype. While Phoenix will continue to be a popular vacation spot, Harvey predicts the Super Bowl disappointment will motivate some owners to sell their short-term-rental properties.

☆ Super Bowl Opening Night brings back eclectic style after hiatus
▼ + stars: | 2023-02-07 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

PHOENIX, Feb 7 (Reuters) - The National Football League's Super Bowl Opening Night returned in full force on Monday in Phoenix, as the Philadelphia Eagles and Kansas City Chiefs prepared to face off for their sport's ultimate prize. At Phoenix's Footprint Center, cheers echoed through the arena and eclectic costumed characters rubbed shoulders with Sunday's upcoming Super Bowl stars. Kelce and his sibling, Eagles center Jason, will become the first brothers to face off in a Super Bowl when they take the field on Sunday. Feb 6, 2023, Phoenix, AZ, USA; The Super Bowl 57 logo at the Phoenix Convention Center. The Philadelphia Eagles play the Kansas City Chiefs on Sunday at State Farm Stadium in Glendale, Arizona.

☆ The Phoenix housing bubble spectacularly popped in 2008. Countless signs point towards a similar struggle now. Here's how bad it really is.
▼ + stars: | 2023-02-05 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +9 min

Phoenix's housing market is quickly deteriorating as a pullback in demand triggers home price declines. And as Phoenix's housing market performs an about-face from the dramatic rise it had witnessed from spring 2020 through summer 2022, experts across the country are debating the possibility of the whole market imploding. And as of January 2023, area home sales are down 74% year-over-year, according to John Burns Real Estate Consulting. The Phoenix Valley — a sprawling desert metropolis that's home to nearly 5 million people — is no stranger to speculative real estate bubbles. Phoenix's housing market could be on track to normalizingDespite the numerous indicators of a weakening housing market, Phoenix may simply be facing a correction versus a crash, several experts told Insider.

☆ As fans roll in, Arizona hosts embrace super-sized Super Bowl stakes
▼ + stars: | 2023-02-04 | by ( Amy Tennery | ) www.reuters.com time to read: +3 min

Feb 4 (Reuters) - A mega-watt spotlight falls on Arizona on Monday as a week-long celebration of the National Football League's title game will prove the ultimate test for the Super Bowl hosts. "Everything from liquor licenses to bus service is impacted by the Super Bowl, so we've been working since the day we earned the bid to be ready," Phoenix Mayor Kate Gallego told Reuters. "We weren't very well positioned to leverage the benefit of the Super Bowl in 2015," said Glendale City Manager Kevin Phelps. "We're (at) about $4 million of Glendale money to help make the Super Bowl come to reality. "From 2015 and Super Bowl 49, we had a very good blueprint of how we effectively hosted Super Bowl," said Jay Parry, the Arizona Super Bowl host committee president and CEO.

☆ Brittney Griner's return could be the unlikely catalyst that forces the WNBA to relent on its most contentious policy
▼ + stars: | 2023-01-29 | by ( Meredith Cash | ) www.businessinsider.com time to read: +10 min

WNBA free agency is underway, with teams receiving the green light to recruit stars as of this weekend. Top free agent Breanna Stewart has reportedly made charter flights a key issue for teams wooing her. Private flights are not covered by the league's CBA, but Brittney Griner's return may force policy changes. The 2018 MVP took to Twitter to announce that she's prepared to help "subsidize charter travel for the entire WNBA" by offering her "NIL, posts + production hours." Several current WNBA players, including Nneka and Chiney Ogwumike, Elena Delle Donne, Napheesa Collier, Alysha Clark, Erica Wheeler, Kahleah Copper, and Natalie Achonwa, offered their support in the comments.

☆ Finally ready to buy in 2023? These were the 10 least bubbly cities in the last two years and could be the safest bet for buyers this year as prices have remained stable.
▼ + stars: | 2023-01-26 | by ( Alcynna Lloyd | Robert Davis | ) www.businessinsider.com time to read: +2 min

Homebuyers appear to be gaining leverage in many real estate markets across the country. Approximately 28 million people say they are planning to buy a home in 2023. These 10 markets could be the safest places for regular buyers to find the home of their dreams. At least 28 million Americans say they plan on buying a home in 2023, according to NerdWallet's latest home buying survey. "In 2023, I think we'll start to see that real estate is local again."

☆ A popular Phoenix suburb is cracking down on Airbnbs ahead of the Super Bowl, with one critic saying its 5,000 short-term rentals are 'destroying neighborhoods'
▼ + stars: | 2023-01-18 | by ( Dan Latu | ) www.businessinsider.com time to read: +4 min

There are about 5,000 short-term rentals in Scottsdale, Arizona, a local CBS affiliate reported. Some locals say short-term rentals have had a detrimental effect on neighborhoods. The regulation is a warning to the industry that has flourished under a 2016 Arizona law that banned local caps on short-term rentals. Scottsdale is joining the dozens of cities across America attempting to control their number of short-term rentals, which reached a record high in US supply last year. The expansion of vacation pads has been a 'slow-cooked lobster'Indeed, the explosion of short-term rentals in Scottsdale is "out of control," Whitehead, the councilwoman, said.

☆ Arizona might have to stop construction on homes for more than 800,000 people if it can't find another water source
▼ + stars: | 2023-01-18 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

Housing plans for upwards of 800,000 people in Arizona might be put on hold because of the state's challenge with water. Newly elected Governor Katie Hobbs made a point to recognize the state's water struggles in her State of the State address on January 9. The state water finance board is reviewing plans for a new water desalination plant, which could help convert groundwater or water imported from Mexico into usable water. However, researchers like Kathleen Ferris at Arizona State university say the plant probably won't be available in time to mitigate the water shortage that Arizona is already experiencing. "We should not be allowing this growth to occur when the water isn't there," Ferris told the Arizona Republic.

☆ NBA roundup: Nets sneak by Heat in final seconds
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +7 min

The Nets, who have won 14 of their past 15 games, also got 13 points, 11 rebounds and three blocks from Nic Claxton. 76ers 123, Pistons 111James Harden delivered a triple-double with 20 points, 11 rebounds and 11 assists, Tyrese Maxey had 23 points and visiting Philadelphia rolled past Detroit. Gary Trent Jr. had 19 points, Fred VanVleet had 14 points and seven assists and O.G. Anfernee Simons added 22 points, Josh Hart had 18 points, Jusuf Nurkic had 14 points and 18 rebounds and Jerami Grant also scored 14 points for Portland. Luguentz Dort added 18 points for the Thunder.

☆ TSMC to up Arizona investment to $40 billion with second semiconductor chip plant
▼ + stars: | 2022-12-06 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

President Joe Biden is joining the founder of Taiwan Semiconductor Manufacturing Co. on Tuesday to announce the opening of a second chip plant in Arizona, raising the company's investment in the state from $12 billion to $40 billion. Semiconductor chips are used in everything from computers and smartphones to cars, microwaves and health care devices. The law includes $52.7 billion in loans, grants and other incentives as well as billions more in tax credits to encourage investment in U.S. semiconductor manufacturing. It was initially slated to produce 5 nanometer chips, but now will create 4 nanometer chips. The second plant will open in 2026 and produce 3 nanometer chips, the most cutting-edge chips currently available.

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