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☆ Bidders Chase Elton John Memorabilia and a Banksy in First Week of Sales
▼ + stars: | 2024-02-23 | by ( Julia Halperin | ) www.nytimes.com time to read: +1 min

More than 3,500 people from 34 countries registered for the chance to bid on the superstar Elton John’s rocket-shaped cocktail shakers, ornate jumpsuits, and black-and-white fashion photography at Christie’s “Goodbye Peachtree Road” auction this week. Two sales over three days featuring the celebrated musician’s belongings rocketed to $14.4 million, with auction-house fees, outperforming the high estimate of $11.3 million. Bidders vied for silver leather platform boots the singer wore throughout the 1970s (they sold for $94,000, more than nine times the high estimate) and an 18-karat gold Rolex watch with a leopard-print dial (it fetched $176,400, about three times the high estimate). Most of the remaining auctions will take place online through Feb. 28, including sales of John’s celebrity portraits, jewelry and Versace clothes. With six online sales to go, the collection has already exceeded the original (and perhaps conservative) expectation of $10 million set by Christie’s.

Persons: Elton John’s, rocketed, John, David Locations: Peachtree, Atlanta

☆ Capital One’s acquisition has $1.4 billion breakup fee if rival bid emerges, but none if regulators kill deal
▼ + stars: | 2024-02-22 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Capital One 's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC. Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion. Watchers of the Capital One agreement are taking particular interest in whether U.S. banking regulators will allow it to happen. Neither side will owe the other a breakup fee if regulators block the acquisition, which is said to be typical for bank deals. The deal happened after Capital One approached Discover, and didn't include a wide search for all possible bidders, according to one of the people.

Persons: Richard Fairbank, — CNBC's Alex Sherman Organizations: Discover Financial, CNBC, Capital, Discover, Mobile, U.S . Department of Justice, Regulators, Bank, Federal Reserve, Currency, The Justice

☆ The richest man you've never heard of isn't sure what to do with his billions
▼ + stars: | 2024-02-15 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +3 min

Autry Stephens is set to be one of the world's richest people after selling his oil business. The sale is set to create one of the biggest drillers poised to take advantage of Texas' oil boom. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Autry Stephens sold his company, Endeavor Energy Resources, to Diamondback Energy earlier this week. Asked by the Journal what he would do with his newfound billions, Stephens said that he hadn't really thought about it yet.

Persons: Autry Stephens, —, Stephens, he's, Lyndal Greth, wasn't, Nvidia's Jensen Huang, Mark Zuckerberg Organizations: drillers, Service, Endeavor Energy Resources, Diamondback Energy, Bloomberg, Wall Street, Endeavor, ExxonMobil, ConocoPhillips —, Cruiser, Southwest Airlines, University of Texas Austin, UT Austin Locations: Texas

☆ As Sam Bankman-Fried awaits prison sentence, FTX customers await a surprise: full repayment
▼ + stars: | 2024-02-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay customers and creditors with legitimate claims. After the dust settled from FTX's bankruptcy, Solana saw a huge run-up in its price, and it continued to rally after the September report. The bankruptcy estate of FTX has been looking to sell its Anthropic stake, according to a court filing this month. For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022.

Persons: Sam Bankman, Fried, FTX, Andrew Dietderich, —, Joseph Bankman, Barbara Fried, Brendan Mcdermid, John Ray III, Michael Kives, Braden Perry, FTX's, Ray, we're, It's, Solana, Lewis Kaplan, Elizabeth Williams, Michael Lewis, Lewis, IOUs, Perry, SBF, Renato Mariotti, Mariotti Organizations: Bankman, Federal Court, Reuters, K5 Global, SpaceX, Commodity Futures Trading Commission, CNBC, Alameda Research, U.S . Justice Department's Securities, Commodities, SEC Chari Locations: FTX, Delaware, Plenty, Palo Alto , California, New York City, U.S, Bankman, Solana, Alameda, FTX's, Anthropic, New York, Brooklyn

☆ Investing in Space: How bankers read a potential sale of rocket builder ULA
▼ + stars: | 2024-02-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. It's been widely reported over the last year that ULA parent companies Boeing and Lockheed Martin are considering offloading the rocket business. That's despite the successful debut of ULA's Vulcan rocket in early January, which I assumed would galvanize a sale. In the meantime, I've been curious to understand how ULA's sale is likely to play out. Boeing and Lockheed Martin are, and have been, looking to sell the rocket business for some time.

Persons: CNBC's Michael Sheetz, It's, Lockheed Martin, ULA, Tory Bruno, Jeff Bezos, hasn't, I've, it's Organizations: Boeing, Lockheed, Origin, Textron, SpaceX, U.S ., Glenn, Vulcan Locations: ULA

☆ What’s next for Zee shares? Here’s what Wall Street analysts are saying after Sony merger was called off
▼ + stars: | 2024-01-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of the Indian media house fell 34% on Tuesday, while investors shrugged off the impact on the $124 billion Japanese media and technology giant Sony. ZEEL-IN 1Y mountain What are analysts saying about Zee shares, moving forward? Citi sharply slashed its price target on Zee's stock from 340 Indian rupees to 180 Indian rupees. Zee has not stated whether it will pursue the merger while the litigation with Sony could hinder improvements in operations or explore a merger with other players," the analysts added. Similarly, Elara analysts added, "Possibility of any other strategic/financial partner buying majority stake in Zee could provide respite to valuation multiples."

Persons: Motilal Oswal, Zee, Motilal, Aliasgar Shakir, Karan Taurani, Pulkit Chawla, Emkay, Zee's, Punit Goenka, Chawla Organizations: Zee Entertainment, Sony, Zee, Citi, Wall, Reliance, Disney Star India, Motilal Oswal, Star, Disney, Netflix, Amazon Prime, Reliance Industries, Media, Elara, RIL, Zee Management, Quintillion Business Media, Bloomberg News, NDTV Locations: India, Zee

☆ Macy’s Rejects Takeover Bid, but Remains ‘Open to Opportunities’
▼ + stars: | 2024-01-22 | by ( Lauren Hirsch | More About Lauren Hirsch | ) www.nytimes.com time to read: 1 min

The retailer Macy’s rejected a $5.8 billion takeover bid late Sunday that valued the struggling department store chain at roughly 20 percent above its closing share price on Friday, but suggested it was “open to opportunities.”The bidders, Arkhouse Management and Brigade Capital, are seeking to acquire Macy’s stock they do not already own at $21 a share and have threatened to take the offer to shareholders. With a potential hostile bid looming, questions are rising over how Arkhouse and Brigade could pull off a deal and whether additional suitors could appear, potentially setting off a bidding war. In a statement released Sunday night, Macy’s board questioned whether the investment firms had the money to finance the deal, which it said “lacks compelling value.” It noted that the bid was accompanied by a letter with “numerous” untraditional stipulations.

Persons: Macy’s Organizations: Arkhouse Management, Brigade

☆ When the broker is a chatbot: How AI will shake up commercial real estate.
▼ + stars: | 2024-01-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Brokers, Davies noted, normally "don't play with this" and the high-placed executive was "just really entertained." He believes AI assistants will become a common tool for salespeople and executives across real estate and the wider business world. Even boosters of the new tech's expanded role in the real-estate business acknowledge that chatbots could become viewed as a nuisance, a gimmick, or worse. "This is and always will be a relationship driven business," Dirkschneider said. But "the more advanced AI becomes, the less some of our services are needed, and that's what can get scary."

Persons: Chris Davies, Davies, Davies's chatbot, —, " Davies, flexibly, Rod Santomassimo, he's, Santomassimo, CBRE, Sandeep Davé, Davé, haven't, James Nelson, Nelson, Bob Knakal, Santomassimo's, David Dirkschneider, Dirkschneider, Dirkschneider doesn't Organizations: Business, Massimo Group, National Association of Realtors, NAR, New York, Oklahoma City Locations: Edmonton, Alberta, Canada, CBRE –, New, New York City, Oklahoma

☆ Classic car auction site Bring a Trailer's sales hit record $1.4 billion even as prices drop
▼ + stars: | 2024-01-16 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Total auction sales of classic cars (for both online and live auctions) fell 3% last year to $4.19 billion from $4.32 billion in 2022, according to data from Classic.com. The growth in the number of cars sold helped to offset a decline in prices. The average price of a car sold on the site fell to $54,000 in 2023 from $59,500 in 2022. Bring a Trailer's sales increased about 2% last year to over $1.4 billion from $1.35 billion in 2022, according to the company's CEO Randy Nonnenberg. Bring a Trailer sold over 30,000 cars in 2023, up 19% from 2022.

Persons: Randy Nonnenberg, Nonnenberg, Sellers, Pagani Organizations: CNBC, Ferraris, Ferrari, Porsche, Porsche Carrera, BAT Locations: —

☆ Here are some of the 'ludicrously capacious' props from 'Succession' that just sold at auction
▼ + stars: | 2024-01-14 | by ( Hannah Getahun | Associated Press | ) www.businessinsider.com time to read: +3 min

Hundreds of props used in the show "Succession" have been auctioned off. AdvertisementSomeday soon, someone will be walking down the street proudly carrying a ludicrously capacious bag, bought for a ludicrously capacious price. The voluminous Burberry tote is one of the most famous props used on "Succession," the famed HBO saga of the Roy family dynasty, and it sold at auction Saturday for $18,750. It often parodied the lives of the uber-wealthy, with Logan Roy being a nod to the former Chairman of Fox News, Rupert Murdoch. After all, there's no award for "best props" at awards shows like there is for costumes, notes "Succession" prop master Monica Jacobs, who joined the show after the pilot episode.

Persons: Tom Wambsgans, —, Roy, Logan Roy, Waystar, Rupert Murdoch, Matthew Macfadyen's Tom Wambsgans, Roman, Kieran Culkin, Robert Wilonsky, there's, Monica Jacobs, Jacobs Organizations: Burberry, Service, Burberry tote, HBO, Fox News, Golden Globes, Heritage Auctions Locations: Dallas

NEW YORK (AP) — Someday soon, someone will be walking down the street proudly carrying a ludicrously capacious bag, bought for a ludicrously capacious price. Beginning, “My father Logan Roy was a great man,” the four cards represent the tragic failure of Roman (Kieran Culkin) to meet the moment. Tom, in his worst “human-grease-stain” way, imagined aloud what could be in the “ludicrously capacious” tote: “Flat shoes for the subway? (A group of prop sausages went for $5,250.) “The plastic ones are are actually much more durable as props," says Jacobs.

Persons: ”, Roy, “, Logan Roy, Roman, Kieran Culkin, Robert Wilonsky, there’s, Monica Jacobs, Jacobs, Tom, Shiv Roy, Sarah Snook, Logan, Shiv, Jeremy Strong, Kendall, Bridget, Cousin Greg, Nicholas Braun, ” Jacobs, Michelle Matland “, Sandro, — Organizations: Burberry tote, HBO, Heritage Auctions, New York, Express Locations: Dallas, American, New York

☆ Big M&A and Bob Iger's future: 13 media executives make their anonymous 2024 predictions
▼ + stars: | 2023-12-20 | by ( Alex Sherman | ) www.cnbc.com time to read: +14 min

Executive 2: Bob Iger will, again, extend his contract as Disney CEO Earlier this year, Disney CEO Bob Iger renewed his contract through 2026. This executive predicted "fool me five times, shame on me." This executive predicted Peltz and Rasulo will win their campaign and both join the board. This person predicted Disney would purchase privately held Candle Media to acquire Moonbug Entertainment, the owner of CoComelon. This executive predicted Yaccarino would either lose patience or find her job increasingly pointless and leave the company in 2024.

Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Michael M, David Zaslav, Slaven Vlasic, NBCUniversal, Brian Roberts, Roberts, Donna Langley, Bob Iger, Iger, Nelson Peltz, Jay Rasulo, Marco Bello, Peltz, Rasulo, Disney's, Dana Walden, Dana Walden Jason Laveris, Disney Entertainment Dana Walden, Walden, Bob Chapek, Andrew Wilson, Wilson, Chris Licht wouldn't, McCarthy, Andrew Wilson Michael Newberg, Kevin Mayer, Mayer, Bryan van der Beek, Tom Staggs, Staggs, Jayson Tatum, Kyle Terada, NBCUniversal's Peacock, Alec Martinez, Gray, Discovery's Max, Jeff Zucker, Lady Michelle Obama's, Michelle Obamas, Cheriss, Gerry Cardinale, Jeff Shell, RedBird, Shari Redstone's, David Ellison, Byron Trott, Zucker, Mark Thompson, Linda Yaccarino, X Linda Yaccarino, Vox, Jerod Harris, Yaccarino, CNBC's Julia Boorstin, Boorstin, Elon Musk's, Jason LaVeris, Barbie, Mario, Oppenheimer, LightShed's Greenfield Organizations: Walt Disney Company, New York Times, Santiago, Getty, Jazz, Lincoln Center, Warner Bros ., Comcast, Warner Bros, Discovery, Disney, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Filmmagic, Disney Entertainment, Electronic Arts, CNBC, Candle Media, Iger, Media, Moonbug Entertainment, Apple Boston Celtics, Golden State Warriors, USA, National Basketball Association, NBA, Apple, The College, ESPN, College, NHL, MLB, Vegas Golden Knights, Florida Panthers, Mobile, National Hockey League, Diamond Sports Group, Scripps, Gray Television, Las Vegas Golden Knights, Arizona Coyotes, Phoenix Suns, Street Journal, Netflix, Hulu, Max, Paramount, RedBird, Paramount Global, CNN Worldwide, CNN, NurPhoto, BDT, The Ritz, Carlton, FilmMagic, Mario Bros Locations: New York City, Disney, Miami , Florida, Las Vegas , Nevada, Laguna Niguel, Dana Point , California

☆ Four bidders approved for Colombia 5G auction
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

Flags flutter on the facade of the Colombian Ministry of Information and Communications Technologies building in Bogota, Colombia, November 8, 2023. REUTERS/Luis Jaime Acosta/File Photo Acquire Licensing RightsBOGOTA, Dec 5 (Reuters) - Four operators have been approved to participate in Colombia's auction to offer fifth-generation (5G) cellular data services, the communications ministry said. Telecall Colombia S.A.S., the fourth approved bidder, is a Brazilian telecoms coming looking to enter the Colombian market. The government expects to raise about $500 million via the Dec. 20 auction and join regional neighbors like Argentina and Mexico, where 5G is already available. Reporting by Luis Jaime Acosta; Writing by Julia Symmes Cobb; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Luis Jaime Acosta, Julia Symmes Cobb, Mark Porter Organizations: Colombian Ministry of Information, Communications Technologies, REUTERS, Rights, Telefonica, Telecall, Thomson Locations: Bogota, Colombia, Rights BOGOTA, Claro, Telecall Colombia, Brazilian, Colombian, Argentina, Mexico

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

☆ Marlon Brando's one-of-a-kind Rolex has been sold for more than $5 million — or has it?
▼ + stars: | 2023-12-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Marlon Brando's Rolex GMT-Master was recently sold at Christie's for more than $5 million. Brando's Rolex, which features unique customizations, was sold at Christie's auction house in November for more than $5 million. On November 6, 113 watches from his collection, including the Rolex GMT-Master, were auctioned off for more than $42 million. You can do anything you want to it and it will keep on going," Brando Fischer recalled her father telling her, according to the report. Brando Fischer later gifted the watch to her husband as a wedding present, which would be hidden in their home for years until it was auctioned.

Persons: Marlon Brando's, Brando, —, Marlon Brando, Francis Ford, Mohammed Zaman, Zaman, Denis Balibouse, Petra Brando Fischer, Brando Fischer, I'm, Walter E, Kurtz, Petra Organizations: Rolex, Service, Bloomberg, Oscar, Best, New York Times, Phillips, Brown University, Times Locations: Omani, Geneva, Vietnam

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

☆ U.K. Opens Inquiry Into Jeff Zucker’s Emirati-Backed Bid for The Telegraph
▼ + stars: | 2023-11-30 | by ( Michael M. Grynbaum | ) www.nytimes.com time to read: +1 min

Jeff Zucker’s re-entry into the global news business has hit a snag. The announcement capped a week of growing outcry in Westminster over Mr. Zucker’s use of roughly $1 billion in Emirati money to acquire the news organizations, which are hugely influential in British conservative politics. Tories lined up to denounce the proposed deal, warning that the Emiratis’ involvement could lead to undue foreign influence over The Telegraph’s coverage. The review, announced by Britain’s culture secretary, does not necessarily end Mr. Zucker’s chance of success. Since then, Conservative Party eminences have lined up to denounce his bid — often in essays published by newspapers controlled by Mr. Zucker’s rivals — and Tory members of Parliament urged regulators to consider the constraints on press freedoms in the Middle East.

Persons: Jeff Zucker’s, Zucker, Zucker’s, Rupert Murdoch, Lord Rothermere, Murdoch, — Organizations: CNN, The Daily Telegraph, The Spectator, Tories, The Daily, The, Conservative Party Locations: Westminster

☆ The NBA In-Season Tournament is confusing people. Ratings are still through the roof
▼ + stars: | 2023-11-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

The NBA In-Season Tournament, running this year for the first time, is the league’s idea for that mid-season boost. The media rights to NBA games are up after the 2024-2025 season, and the tournament could make the NBA’s television rights more lucrative to potential networks and streaming bidders. To add intrigue to the tournament, each of the 30 NBA teams has a distinct court design and jersey for games. The NBA’s strategy behind the colorful court designs was to attract attention — even if some of the reaction to the courts has been negative. The NBA in-season tournament is the latest example of sports leagues adapting to try to add excitment in an increasingly competitive media environment.

Persons: Jeff Haynes, NBAE, ”, Jacinda Ortiz, Mark Cuban Organizations: New, New York CNN, Chicago Bulls, New Orleans Pelicans, NBA, NFL, United Center, Games, ESPN, TNT, Sports Business, CNN, Warner Bros ., ” Dallas Mavericks, Mavericks, MLB, Nickelodeon Locations: New York, Chicago, Las Vegas, Europe

☆ Celsius Network faces roadblocks in pivot to bitcoin mining
▼ + stars: | 2023-11-30 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsNEW YORK, Nov 30 (Reuters) - Crypto lender Celsius Network may have to seek a new creditor vote on its proposed transformation into a bitcoin mining business, a U.S. bankruptcy judge said during a court hearing on Thursday. Celsius said last week that it had reduced its post-bankruptcy business plans to focus only on bitcoin mining, citing the skepticism of the U.S. Securities and Exchange Commission (SEC) about its other planned business lines. The SEC did not definitively object to Celsius' bankruptcy plan before it was approved, but Celsius said the agency was unwilling to approve crypto lending and staking activity that the agency has opposed in the past. Celsius attorney Chris Koenig argued at Thursday's hearing that Celsius's court-approved bankruptcy plan gave the company flexibility to pivot to a mining-only business. Celsius creditors can expect a 67% recovery under the new plan, an increase from 61.2% under the Fahrenheit deal, according to court documents filed on Thursday.

Persons: Dado Ruvic, Martin Glenn of, Glenn, Chris Koenig, Koenig, Arrington, BRIC, Dietrich Knauth, Alexia Garamfalvi, Grant McCool Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Bankruptcy, US Bitcoin Corp, Arrington Capital, Recovery Investment, US, Thomson Locations: U.S, Martin Glenn of New York

☆ Stocks making the biggest moves midday: PDD Holdings, Micron, Boeing, Twilio and more
▼ + stars: | 2023-11-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday: PDD Holdings — U.S.-listed shares of the international ecommerce company jumped more than 18% after PDD posted a big earnings and revenue beat . PDD, the parent of Pinduoduo and Temu, reported a whopping 94% year-over-year increase in revenue for its third quarter. Micron Technology — Micron Technology's stock fell nearly 3% even after the memory chipmaker boosted its revenue guidance for its fiscal first-quarter. Twilio — The enterprise software stock jumped nearly 4% after CNBC reported activist investor Anson Funds has built a stake in Twilio. U.S. Steel — Shares added 1.7% in midday trading.

Persons: PDD, Ken Herbert, Twilio, Anson, Crocs, Raymond James, it's, CNBC's David Faber, Ogsiveo, Dow, Carlyle, Jefferies, nLight, Alex Harring, Samantha Subin, Lisa Han, Spencer Kimball, Jesse Pound Organizations: PDD Holdings —, Micron Technology, Micron, Boeing —, RBC Capital Markets, CNBC, . Steel, Steel, U.S . Steel, SpringWorks Therapeutics, Food and Drug Administration, Therapeutics, Carlyle, Dow Jones Indices, underperform Locations: Ireland, China, Twilio, Cleveland, United States

☆ US holds first of several oil and gas auctions as COP28 gets underway
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

BLM will also offer acreage in New Mexico, Oklahoma, Nevada, North Dakota and Utah on Nov. 30, Dec. 5 and Dec. 12. Dozens of nations plan to push for the world's first deal to phase out carbon dioxide-emitting coal, oil and gas at the meeting. "Instead of doing the necessary work to fight climate change, Biden continues to support the expansion of fossil fuels here in the U.S.," Nicole Ghio, senior fossil fuels program manager for Friends of the Earth, said in a statement. Biden's Inflation Reduction Act (IRA), a climate change law passed last year, made oil and gas auctions a prerequisite for renewable energy development. Reporting by Nichola Groom; Editing by Aurora Ellis and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Rick Wilking, Biden, Joe Biden, Nicole Ghio, Trump, Nichola Groom, Aurora Ellis, Stephen Coates Organizations: REUTERS, United Nations, Interior Department's, Interior Department's U.S . Bureau of Land Management, Department, Thomson Locations: Ft . Laramie , Wyoming, Wyoming, Dubai, Interior, Interior Department's U.S, Converse County, New Mexico , Oklahoma , Nevada , North Dakota, Utah, U.S

The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline's financial statements. "The EoI was largely to check the valuation of the airline and get access to the company's data," said one of the sources. Jindal Power and Go First's resolution professional did not reply to emails seeking comment. The Central Bank of India (CBI.NS), Bank of Baroda (BOB.NS), IDBI Bank (IDBI.NS) and Deutsche Bank (DBKGn.DE) are among the top creditors to the airline. Both bankers said the liquidation of the airline was now the most likely option as there were no serious bidders.

Persons: Francis Mascarenhas, India's, Reuters Jindal, Jindal, Banks, Siddhi Nayak, Sarita Chaganti Singh, Miral Organizations: REUTERS, Rights, India's Jindal Power Ltd, Reuters, Jindal Power, Bankers, Central Bank of India, Bank of Baroda, IDBI Bank, Deutsche Bank, Siddhi, Thomson Locations: Shivaji, Mumbai, India, Rights MUMBAI, Bank, BOB.NS, Delhi

[1/2] Executives of Norwegian company Adevinta celebrate the firm’s first day of trading at the Oslo stock exchange, Norway April 10, 2019. The consortium, which include funds General Atlantic and TCV, have offered to pay Adevinta shareholders 115 crowns per share. The deal for Adevinta comes at a difficult time for dealmaking in Europe. It is part of a trend of transactions where private equity firms have weighed buying back public companies they previously owned or still own stakes in. Shareholders can receive cash, or a mix of cash and new shares in the emerging private entity.

Persons: Nerijus, Adevinta, Stefan Dziarski, Dipan Patel, Permira, Shivani Tanna, David Goodman, Marguerita Choy Organizations: Adevinta, REUTERS, Permira, Blackstone, eBay, Adevinta ASA, Atlantic, dealmaking, Thomson Locations: Oslo, Norway, Europe, Adevinta, Bengaluru

☆ Celsius Network pivots to bitcoin mining after bankruptcy
▼ + stars: | 2023-11-21 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

[1/2] Celsius Network logo and representations of cryptocurrencies are seen in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - Crypto lender Celsius Network has scaled back its post-bankruptcy business plans to focus only on bitcoin mining, citing U.S. regulators' skepticism of its other planned business lines. A U.S. bankruptcy court in Manhattan had approved Celsius' Chapter 11 plan on Nov. 9, clearing the company to return cryptocurrency to customers and create a new company owned by Celsius creditors. The SEC did not definitively say during Celsius' bankruptcy case whether the new company's business plans would violate U.S. law, but it reserved the right to make that determination later. Bitcoin mining was always meant to be the "core business" of the new company, Celsius said.

Persons: Dado Ruvic, BlockFi, Dietrich Knauth, Alexia Garamfalvi, Richard Chang Organizations: REUTERS, U.S . Securities & Exchange Commission, SEC, Arrington Capital, Bitcoin Corp, Voyager, Thomson Locations: U.S, Manhattan, New Jersey

☆ Prices for a set of Messi’s World Cup jerseys could exceed a record $10 million
▼ + stars: | 2023-11-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

A set of six jerseys that he wore during last year’s World Cup, which his home country of Argentina won, are being put up for auction by Sotheby’s next week. That shirt currently holds the world record title of being the “most valuable item of sports memorabilia ever sold at auction,” according to the auction house. Bids were initially expected to range from $5 million to $7 million, perhaps signaling that Messi’s jersey prices could go higher. The online auction for Messi’s jerseys runs from November 30 to December 14 and will be displayed during that time in a free exhibition at Sotheby’s gallery in New York. His appearances sent MLS ticket prices skyrocketing and fans had trouble getting their hands on replica jerseys for several months.

Persons: Lionel Messi, Sotheby’s, Michael Jordan, Diego Maradona, ”, Brahm Wachter, Messi, Messi’s, Tom Brady, Kobe Bryant, Germain Organizations: New, New York CNN — Soccer, France, FC Barcelona, Cristiano Ronaldo’s Real, NFL, NBA, MLS, Inter Miami, Paris Saint, FIFA, Adidas Locations: New York, Argentina, Argentine, Cristiano Ronaldo’s Real Madrid, Barcelona, Paris, Qatar

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