DIRS.INFO The most relevant business & tech news

☆ European Space Agency announces first ‘parastronaut’
▼ + stars: | 2022-11-23 | by ( Katie Hunt | ) edition.cnn.com time to read: +3 min

It’s the first time the space agency has established an astronaut reserve, which is made up of candidates who successfully completed the selection process but were not recruited. McFall, a British medic and Paralympian, said he felt compelled to apply when he saw ESA’s ad for an astronaut with a physical disability. McFall, a British medic, will become the first astronaut with a physical disability. The space agency has been closely involved with NASA’s Artemis mission to put humans back on the moon, and ESA hopes that the first European to set foot on the moon will be among this class of astronauts. The space agency on Wednesday also agreed on a new budget of 16.9 billion euros ($17.5 billion) for the next three years — an increase of 17% from 2019.

☆ Indigenous fashion designers, artisans challenge plagiarism on Mexico City runway
▼ + stars: | 2022-11-23 | by ( Aida Pelaez-Fernandez | ) www.reuters.com time to read: +3 min

MEXICO CITY, Nov 23 (Reuters) - Wrapped in colorful haute couture, artisans and indigenous designers took a Mexico City fashion event by storm, all while trying to carve out a sustainable future in an industry threatened by plagiarism, instability and lack of funds. World-renowned brands such as Ralph Lauren and Chinese fast-fashion company Shein have in recent months faced accusations of plagiarizing indigenous Mexican designs, threatening the country's ancient textile tradition. [1/10] Artisan Juana Bravo Lazaro from the Urupan indigenous community, attends the Original Mexican Textile Art meeting, in Mexico City, Mexico November 20, 2022. Plagiarism of ancient indigenous designs has drawn ire from Mexican President Andres Manuel Lopez Obrador. "They plagiarize designs from artisans and indigenous people from Hidalgo, Chiapas, Guerrero," he told a news conference last week.

☆ Stablecoins fall few cents short of respectability
▼ + stars: | 2022-11-23 | by ( John Foley | ) www.reuters.com time to read: +8 min

That will reignite the debate over how to regulate digital assets – especially when it comes to stablecoins, the most money-like part of the cryptoverse. Stablecoins are digital assets designed to have a steady value, usually by being pegged to a real-world currency like the U.S. dollar. For each dollar of stablecoin a user holds, there’s supposed to be a dollar, or something like a dollar, sitting in a metaphorical vault. And in the case of some so-called algorithmic stablecoins, what backs the stablecoin might be another digital token with no fundamental value. The total sum of major U.S. dollar stablecoins outstanding is just under $145 billion, according to CoinGecko.

Cyber Monday is a better day to shop for tech deals and smaller gifts; you'll also see slightly better online prices. The short answer is that Cyber Monday has better deals overall — but it's close. When to shop Black Friday vs. Cyber MondayShop Black Friday for major stores. The exception is Amazon, which tends to have better deals on Cyber Monday, as long as you're a Prime member. The exception is Amazon, which tends to have better deals on Cyber Monday, as long as you're a Prime member.

☆ FTX spent $300mln on Bahamas real estate, 'substantial' assets missing, lawyers say
▼ + stars: | 2022-11-22 | by ( ) www.nbcnews.com time to read: +6 min

Crypto exchange FTX was run as a “personal fiefdom” of Sam Bankman-Fried, attorneys for the firm said on Tuesday, describing that one of the company’s units spent $300 million on Bahamas real estate. An attorney said the $300 million spent on real estate was largely homes and vacation properties for senior staff. At the hearing, an attorney for FTX also said that the company continues to suffer cyberattacks as bankruptcy begins, and that “substantial” assets are missing. Bankman-Fried, FTX and the Bahamas liquidators did not immediately respond to requests for comment. FTX said that it was communicating with U.S. regulators and bankruptcy court officials, but did not mention Bahamas regulators.

☆ Spain approves mortgage support for more than 1 mln households
▼ + stars: | 2022-11-22 | by ( Jesús Aguado | ) www.reuters.com time to read: +3 min

In Spain, around three-quarters of the population are homeowners, with most opting for floating-rate mortgages which are exposed to interest rate rises. Other countries, such as Hungary, Portugal, Poland and Greece, have approved different forms of mortgage support. Spain's banks will provide mortgage support for vulnerable families earning less than 25,200 euros ($25,815) per year through an amended industry-wide code of good practice. They will be able to restructure mortgages at a lower interest rate during a five-year grace period. Measures will also make it cheaper for families to switch from variable to fixed rate mortgage contracts.

NEW YORK/LONDON, Nov 22 (Reuters) - FTX has a total cash balance of $1.24 billion, a court filing by advisers on the stricken crypto exchange's restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday. Its cash balance as of Sunday was "substantially higher" than previously thought, Monday's filing by Edgar Mosley of Alvarez & Marshal, a consultancy firm advising FTX, said. The details of FTX's cash balances came ahead of a hearing in Delaware on FTX's so-called first-day motions. FTX, led since the bankruptcy filing by new CEO John Ray, has accused Bankman-Fried of working with Bahamian regulators to "undermine" the U.S. bankruptcy case and shift assets overseas. Since the implosion of FTX, some crypto players are taking to decentralized exchanges known as "DEXs" where investors trade peer-to-peer on the blockchain.

☆ The death of Twitter won't be as messy as many expect. Here's what its demise could look like.
▼ + stars: | 2022-11-22 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Today, we're talking about what the downfall of Twitter could look like — and it's probably not what you think. Reporting from my colleagues Matt Weinberger and Kali Hays suggests the site probably won't crash and burn in spectacular fashion. The death of Twitter won't be the dramatic explosion you might expect. A leaked email shows Twitter employees must send Elon Musk weekly updates of everything they've worked on. In other Musk news, the billionaire told Twitter employees that he's done with layoffs for now, and he tweeted Monday that the Twitter Blue relaunch is on hold.

☆ Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion
▼ + stars: | 2022-11-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

FTX's vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The filing was penned by Alvarez & Marsal North America, which is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month. The balances include FTX and its various "silos," ranging from the trading group Alameda Research to international subsidiaries. FTX's Japanese unit, FTX Japan K.K., has about $171.7 million in cash on its books, making it the third-biggest source of cash for the company. The cash is held by FTX and its affiliates with banks and other financial institutions, Mosley said in the filing.

☆ Spain's mortgage relief plans may mean higher provisions, Santander CEO says
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

MADRID, Nov 22 (Reuters) - Santander (SAN.MC) said on Tuesday that Spain's mortgage relief plans could lead to an increase in bad debt provisions and use up more capital reserves. The Spanish government and the country's banks on Monday reached an agreement in principle on mortgage relief measures, such as extending loan repayments, for more than one million vulnerable households and on help for middle-class families. Alvarez said even small changes in how a potential mortgage refinancing or extension is done could have an impact on capital consumption related to the bank's mortgage loans. Alvarez also said Santander had still not signed off on the mortgage support agreement though it planned to do so. The CEO also said care must be taken to ensure the support measures do not make access to loans more difficult.

☆ How Elon Musk’s Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs
▼ + stars: | 2022-11-21 | by ( Mark Maurer | ) www.wsj.com time to read: +10 min

Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s credit ratings, which were below investment grade before the transaction with Mr. Musk, have deteriorated further. For that, Mr. Musk would need to persuade potential investors that he has a viable long-term business plan, he said.

☆ This TikToker went to the White House with Selena Gomez to talk about mental health. He shares the exact 2-page media kit he uses to pitch brands.
▼ + stars: | 2022-11-21 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +5 min

Jorge Alvarez started posting on TikTok in April 2021 because he wanted more Latinx representation. He shares the 2-page media kit he uses to partner with brands like BetterHelp, Dove, and Taco Bell. Jorge Alvarez started posting mental-health content on TikTok last April because he didn't think there was enough Latinx representation on the social-media platform. Since he started posting consistently, Alvarez has made $30,200 through brand collaborations and speaking engagements, according to documentation verified by Insider. Here is what the latest version of his media kit looks like.

☆ Holiday shoppers aren’t in a rush. What that means for retail stocks
▼ + stars: | 2022-11-20 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

If you're a retailer, and it's the holiday season, the thing you most want consumers to feel is a sense of urgency. Unlike last year, holiday shoppers don't need to fear empty shelves at the store. Walmart said it saw more shoppers with incomes above $100,000 ring up items in its stores, drawn in by less expensive groceries. He suggests investors position themselves in discounters like Walmart or Family Dollar or in luxury stocks like RH or Lululemon . She explained that many shoppers perceive Target as a place where "you go in for two items and come out $150 later."

☆ Which to Choose: Medicare or Medicare Advantage?
▼ + stars: | 2022-11-20 | by ( Paula Span | ) www.nytimes.com time to read: +13 min

Which to Choose: Medicare or Medicare Advantage? Medicare Advantage plans, like traditional Medicare, are funded by the federal government, but they are offered though private insurance companies, which receive a set payment for each enrollee. The proportion of eligible Medicare beneficiaries enrolled in Medicare Advantage plans has hit 48 percent. Which is better: Medicare or Medicare Advantage? Credit... Kenny Holston for The New York Times Unlike most Medicare Advantage plans, traditional Medicare does not include drug coverage.

☆ Grindr Plans to Focus on Monetization, Subscription Prices After Going Public
▼ + stars: | 2022-11-17 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

The company will list on the New York Stock Exchange under a new name, Grindr Inc.Vanna Krantz, Grindr CFO. Ms. Krantz said she plans to review subscription prices, which currently start at $19.99 a month for paid accounts. Once the company is public, Ms. Krantz will be responsible for further building out Grindr’s finance function. Ms. Krantz said she would focus on further improvement when it comes to forecasting. The year-over-year loss was largely driven by one-time costs associated with going public, such as legal, consulting and audit fees, Ms. Krantz said.

☆ Breakingviews: FTX affords a turning point in venture governance
▼ + stars: | 2022-11-17 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

The new chief executive of the collapsed cryptocurrency exchange, insolvency veteran John Ray, uncovered giant financial gaps and signs of looting. Ray’s first in-depth account, submitted to the court on Thursday, reveals a brazen lack of controls and governance. Financial statements dated to Sept. 30, when founder Sam Bankman-Fried was in charge, contain no record of customer liabilities at either the U.S. subsidiary or the international division. Many of the FTX corporate entities never had board meetings. Ray also criticised his predecessor and FTX co-founder Sam Bankman-Fried for making “erratic and misleading public statements”.

☆ FTX affords a turning point in venture governance
▼ + stars: | 2022-11-17 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

☆ Angela Álvarez, 95, wins best new artist Latin Grammy in a history-making tie
▼ + stars: | 2022-11-17 | by ( Marysabel Huston-Crespo | ) edition.cnn.com time to read: +1 min

CNN —Angela Álvarez made Latin Grammy history on Thursday by winning the award for best new artist at age 95. She was discouraged from pursuing a career in music by her father but found joy performing for her family. Over the years, she sang for her family about her life and developed a collection of songs she composed. At the encouragement and support of her grandson, she eventually recorded and released collection of her songs in 2021. The Latin Grammy nomination came as a surprise to her, Álvarez told CNN en Español last month.

☆ Latin Grammy 2022: How to watch and what to expect
▼ + stars: | 2022-11-17 | by ( Marysabel Huston-Crespo | ) edition.cnn.com time to read: +1 min

The 23rd Latin Grammys will be presented Thursday at the Michelob ULTRA Arena at the Mandalay Bay Casino and Resort in Las Vegas. His critically acclaimed album “Un Verano Sin Ti,” also a history-making Grammy nominee, is nominated for album of the year category at the Latin Grammys. That song is nominated in three categories: record of the year, song of the year, and best urban fusion/performance. HBO Max will also stream the ceremony in Spanish. (TNT and HBO Max, like CNN, are part of Warner Bros.

☆ Retailer TJX Names New CFO as Sales Decline
▼ + stars: | 2022-11-16 | by ( Jennifer Williams-Alvarez | Colin Kellaher | ) www.wsj.com time to read: +3 min

Mr. Klinger, who joined TJX in 2000, currently serves as executive vice president and corporate controller. U.S. comparable-store sales, which exclude e-commerce sites, fell 2%, driven by a 16% drop in comparable sales for the U.S. homegoods business. For the 2023 fiscal year, TJX forecasts U.S. comparable-store sales to fall 1% to 2%. TJX in August projected a full year decline in U.S. same-store sales of 2% to 3%. This is because they’ve withheld key metrics such as the figures for comparable-store sales, since they weren’t meaningful as a result of store closures brought on by the pandemic, she said.

☆ Explainer: What's next in FTX's bankruptcy
▼ + stars: | 2022-11-16 | by ( Dietrich Knauth | ) www.reuters.com time to read: +4 min

Here is what likely awaits in the case:WHERE DO THINGS STAND IN FTX'S BANKRUPTCY CASE? About 130 FTX affiliates have filed for bankruptcy in Delaware, and the company has selected a new CEO, bankruptcy attorneys at Sullivan & Cromwell and financial advisers at Alvarez & Marsal. WHAT OTHER RISKS DO FTX CUSTOMERS FACE? The bankruptcy might result in the publication of FTX customers' names, email addresses and transaction history. The courts' preference for transparency are at odds with crypto customers' expectations of anonymity.

☆ Actor Kevin Spacey faces more sexual assault charges in Britain
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 16 (Reuters) - Britain's Crown Prosecution Service (CPS) has authorised seven additional charges against Oscar-winning actor Kevin Spacey for a number of sexual assaults against one man between 2001 and 2004, it said on Wednesday. The new CPS charges include one of causing a person to engage in sexual activity without consent and others of indecent and sexual assault. Spacey, 63, was previously accused of five offences in Britain - four counts of sexual assault by touching, and a more serious charge of causing a person to engage in penetrative sexual activity without consent. 71st Tony Awards – Arrivals – New York City, U.S., 11/06/2017 - Actor Kevin Spacey. Spacey's defence lawyer in Britain, Patrick Gibbs, did not immediately respond to an email seeking comment on the latest charges.

FTX's bankruptcy case includes more than 100,000 creditors, and this number could surpass 1 million, the filings said. The numbers were disclosed as FTX requested that multiple FTX group companies file one consolidated list of major creditors, rather than separate ones. REUTERS/Dado Ruvic/IllustrationCrypto lender BlockFi, which previously acknowledged it has significant exposure to FTX, plans to lay off workers while preparing to file for bankruptcy, the Wall Street Journal reported. Separately, bankrupt crypto lender Voyager Digital no longer plans to sell itself to FTX, Bloomberg reported, while Canadian crypto exchange Bitvo said it terminated its deal to be bought by FTX. I'm meeting in-person with regulators and working with the teams to do what we can for customers," he said on Twitter.

SummarySummary Companies FTX in contact with federal, state, international regulatorsMore than one hundred thousand creditors involved in the bankruptcy case, maybe over one millionBahamas regulator appoints provisional liquidatorsFrench cen. "FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," the court filing stated. Reuters Graphics Reuters GraphicsFTX's bankruptcy case includes more than one hundred thousand creditors, and this number could surpass one million, the filings said. The numbers were disclosed as FTX requested that multiple FTX group companies file one consolidated list of major creditors, rather than separate ones. Canadian crypto exchange Bitvo said on Tuesday it had terminated its deal to be bought by FTX, a deal that had been due to close in the third quarter of this year.

☆ Argentina at the 2022 World Cup: who is in Lionel Scaloni's 26-man squad?
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +4 min

* Teams will be able to select up to 26 players for this year's World Cup after FIFA increased the maximum limit for squads by three in June, citing the unusual timing of the tournament as well as the impact of COVID-19. Who is in Argentina's World Cup 2022 squad? * Manchester United winger Alejandro Garnacho, 18, who has made seven appearances for the club this season, misses out. What was Argentina's squad at the 2018 World Cup? * Forwards: Lionel Messi (Barcelona), Gonzalo Higuain (Juventus), Paulo Dybala (Juventus), Sergio Aguero (Manchester City).

Search resuls for: "Alvarez"

25 mentions found