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☆ Former 'apprentices' and Trump Media cofounders file lawsuit claiming company execs tried to dilute their stake ahead of a potential merger
▼ + stars: | 2024-03-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Trump Media & Technology Group cofounders accused the company of conspiring to dilute their shares. The lawsuit could complicate an upcoming shareholder vote on a merger that would take the company public. The bid would see Trump's company, the parent company of his social media network Truth Social, merge with blank-check company Digital World Acquisition. The suit also claims that the Trump Media board planned to give new shares to "Trump and/or his associates and children," per The Post. The two-year attempted merger between Trump Media and Digital World Acquisition Corp has faced ongoing delays, partly due to SEC investigations into potential securities violations.

Persons: Trump Media & Technology Group cofounders, Andy Litinsky, Wes Moss, —, Donald Trump's, Trump, Moss, Melania Organizations: Trump Media & Technology Group, Service, United Atlantic Ventures, Washington Post, Trump, Business, Twitter, Securities and Exchange, Digital, Trump Media, UAV, SEC

☆ Lawsuits Threaten to Delay Trump Media’s Merger
▼ + stars: | 2024-03-01 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

A rash of lawsuits are threatening to stall a shareholder vote on the long-delayed merger of former President Donald J. Trump’s social media company and a cash-rich shell company. Two early founders of Trump Media & Technology Group have filed suit to preserve their ownership stake in the business, the parent company of the Truth Social online posting platform. The lawsuit, filed Wednesday under seal in Delaware Chancery Court by a partnership led by Wes Moss and Andy Litinsky, claims that Trump Media is trying to dilute its ownership stake in the company, of which Mr. Trump is a majority shareholder. The lawsuit seeks an expedited hearing in Delaware state court ahead of a March 22 vote by shareholders of Digital World Acquisition Corp. on its merger with Trump Media. Mr. Moss and Mr. Litinsky were contestants on Mr. Trump’s realty television show, “The Apprentice,” and went to him in January 2021 with the idea of creating a social media company.

Persons: Donald J, Wes Moss, Andy Litinsky, Trump, . Moss, Litinsky, ” Organizations: Trump Media & Technology Group, Trump Media, Digital, Trump’s realty Locations: Delaware Chancery, Delaware

☆ Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal
▼ + stars: | 2024-02-29 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Donald Trump (R) and producer Andy Litinsky (L) attend the Comedy Central Roast Of Donald Trump at the Hammerstein Ballroom on March 9, 2011 in New York City. The partnership, United Atlantic Ventures alleges that Trump Media & Technology Group engaged in "wrongful 11th hour ... maneuvering" to dilute UAV''s minority stake in the media company, a court filing says. Donald Trump attends the 'Celebrity Apprentice' Red Carpet Event at Trump Tower on January 5, 2015, in New York City. "They actually went out and did the work, they created Truth Social, and now the beneficiary of that, Donald Trump, doesn't want to pay." CNBC has requested comment from spokesmen for Trump, TMTG and DWAC about the lawsuit, which was first reported by The Washington Post.

Persons: Donald Trump, Andy Litinsky, Moss, Wes Moss, Trump, Jean Carroll, Christopher Clark, Clark, Donald J, TMTG, UAV's, TMTG's Organizations: Trump Media, Twitter, Facebook, United Atlantic Ventures, Trump Media & Technology Group, Trump Tower, Trump, Republican, TMTG, CNBC, The Washington Post, Securities and Exchange Commission, Department of Justice, SEC Locations: New York City, TMTG, Delaware, New York, partnership's Delaware

☆ AirAsia unit heads for U.S. listing through SPAC deal as CEO says 'Americans understand branding'
▼ + stars: | 2024-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on January 8, 2024. Malaysian conglomerate Capital A intends to sell its budget carrier business to medium- to long-haul affiliate AirAsia X in a major consolidation of the country's airline industry. Brand licensing opportunities could include hotels, mobile services and airlines in markets such as south Asia and Africa where AirAsia does not have subsidiaries, Fernandes said. The deal values the new company, Capital A International, at $1.15 billion, according to a release Wednesday. That will create a unified Air Asia Group, Fernandes said, which is targeting a $400 million equity raise, according to Reuters.

Persons: Tony Fernandes, —, " Fernandes, Fernandes Organizations: AirAsia, Kuala, Capital, AirAsia X, Nasdaq, CNBC, Asean, Malaysian, Berhad, Air, Air Asia Group, Reuters, Aetherium, International Locations: Kuala Lumpur, Sepang, U.S, Malaysia, Asia's, America, Southeast Asia, Asia, Africa, Malaysian, Air Asia

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

☆ Opinion: This overshadowed Trump ruling may be the one that matters most
▼ + stars: | 2024-02-21 | by ( Opinion David Zurawik | ) edition.cnn.com time to read: +7 min

If shareholders approve the merger, it would enable Trump Media to go public and Trump to own a stake worth about $4 billion. In the US, a political party’s presidential nominee has never owned a major media platform worth so much. Furthermore, the possibility of this added Truth Social muscle for Trump arrives as right-wing MAGA messaging finds more outlets at the national and grassroots levels. And, while Trump has stuck with Truth Social, X has become a haven for right-wing conspiracies of all kinds. MAGA-friendly, right-wing media is growing at the grassroots level as well.

Persons: David Zurawik, Donald Trump, David Zurawik Mich Rouse, Trump, MAGA, Jay Ritter, Julia Nikhinson, Joe Biden, Lyndon Johnson, Johnson, John F, Kennedy, Lady Bird, Elon Musk, Tucker Carlson, Vladimir Putin, Carlson, Megyn Kelly, Eric Bolling, That’s, David Smith, Sinclair Organizations: Goucher College, Baltimore Sun, CNN, Trump, Securities, Exchange Commission, SEC, Trump Media & Technology Group, Trump Media, University of Florida, Getty, Republican, Federal Communications Commission, Johnsons, Twitter, Facebook, Fox News, Russian, Fox, Tucker Carlson Network, Sinclair Broadcast Group, Digital Locations: Conway , South Carolina, AFP, Austin , Texas, Texas, Maryland

☆ Why oil prices aren’t soaring despite Middle East uncertainty
▼ + stars: | 2024-02-16 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea. One factor that could be keeping the cap on oil prices is waning demand. “Global oil demand growth is losing momentum,” said the agency in its February report. While global oil demand growth is slowing, supply has stayed relatively strong, potentially putting further downward pressure on oil prices. “Higher global oil supply this year, led by the United States, Brazil, Guyana and Canada, should more than eclipse the expected rise in world oil demand,” said the report.

Persons: Bell, ”, Donald Trump, Matt Egan, —, Trump, Jay Ritter, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit Organizations: CNN Business, Bell, New, New York CNN, West Texas, Brent, International Energy Agency, “, shuttering, Federal, US, United Arab Emirates, White, Wall, Trump, Truth Social, Trump Media & Technology Group, Securities and Exchange, Trump Media, SEC, University of Florida, Mortgage Bankers Association Locations: New York, Russia, Ukraine, Yemen, Red, United Kingdom, Japan, Germany, Iraq, United States, Brazil, Guyana, Canada

☆ DWAC shares soar as merger with Trump social media company appears closer
▼ + stars: | 2024-02-15 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. jumped 15% Thursday morning after the special purpose acquisition company announced Wednesday night that it is close to completing its proposed merger with Trump Media and Technology Group, former President Donald Trump's social media company. That SPAC first began merger talks with Trump's media group, which operates the Truth Social platform, in October 2021. Shvartsman last week was hit with a new money laundering count related to transfers he allegedly conducted after netting a profit of $18.2 million from selling DWAC stock. Shares of DWAC have rallied in recent months as Trump has emerged as the likely Republican nominee for president in November.

Persons: Donald Trump, Donald Trump's, DWAC, Eric Swider, Michael Shvartsman Organizations: Corp, Trump Media, Technology Group, The Securities, Exchange Commission, Department of Justice, SEC, Shvartsman, Trump, Republican Locations: Washington ,, Florida, New York

☆ Donald Trump just got the green light to return to Wall Street
▼ + stars: | 2024-02-15 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Months after leaving the White House, former President Donald Trump began plotting his return to Wall Street. US regulators have finally given the green light to a controversial merger between Truth Social owner Trump Media & Technology Group and a blank-check company. ‘This is a meme stock’Moreover, there are major questions about the sky-high valuation being placed on this media company. He described that valuation as “crazy” because Trump Media is generating little revenue and burning through cash. One of the final remaining hurdles is for Digital World shareholders to approve the merger in an upcoming vote.

Persons: Donald Trump, Trump, ”, Jay Ritter, Ritter, Devin Nunes, Eric Swider, “, Matthew Tuttle, he’s, Tuttle, — Organizations: New, New York CNN, White, Wall, Trump, Truth Social, Trump Media & Technology Group, Securities and Exchange, Trump Media, SEC, University of Florida, Republican, New SEC, ” Trump Media, Big Tech, Digital, Tuttle Capital Management Locations: New York, Trump, Atlantic City

☆ Trump media deal partner DWAC nears $50 million financing, sources tell Reuters
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +1 min

In this photo illustration, Digital World Acquisition Corp (DWAC) logo is seen on a smartphone and Trump Media & Technology Group (TMTG) logo on a pc screen. Digital World Acquisition Corp. , the blank-check acquisition company that has agreed to take former U.S. President Donald Trump's social media platform public, is nearing a $50 million financing deal, people familiar with the matter said on Thursday. The deal, which could be announced in the next few days, is based on convertible notes and will help fund DWAC while it seeks to complete its merger with Trump Media & Technology Group, owner of social media platform Truth Social, the sources said. The sources requested anonymity because details of the deal discussions are confidential. Representatives for Anson Funds, All Blue Capital and Mangrove Capital Partners did not immediately respond to requests for comment.

Persons: Donald Trump's, Eric Swider, Anson Organizations: Trump Media & Technology, Trump Media & Technology Group, Investment, Funds, Blue, Mangrove Capital Partners, Anson Funds

☆ Trump Media SPAC insider trading defendant hit with new money laundering count
▼ + stars: | 2024-02-07 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

A man already charged with insider trading related to a shell company's planned merger with Donald Trump's social media firm was hit with a new money laundering count in Manhattan federal court. The new indictment details two money transfers Shvartsman conducted after netting a profit of about $18.2 million from selling Digital World Acquisition Corp . Shvartsman, his brother Gerald Shvartsman and Bruce Garelick were indicted in June on securites fraud charges related to their sale of DWAC securities in fall 2021 and other conduct. The trio of investors allegedly bought DWAC securities after learning on a confidential basis that the so-called special purpose acquisition company was eyeing a merger with Trump Media and Technology Group. TMTG includes the social media platform Truth Social, which is one of the former president's favorite methods for communicating with supporters online.

Persons: Michael Shvartsman, Donald Trump's, Shvartsman, Gerald Shvartsman, Bruce Garelick, DWAC Organizations: Federal, Corp, Trump Media, Technology Group, TMTG, Prosecutors Locations: New York, Manhattan

☆ Lightning Round: Carrier is undervalued right now, says Jim Cramer
▼ + stars: | 2024-02-07 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Carrier is undervalued right now, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Digital World Acquisition Corp., TSMC, Pinduoduo and more.

Persons: Jim Cramer

☆ British billionaire Joe Lewis pleads guilty to U.S. insider trading charges
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

British billionaire Joe Lewis pleaded guilty to U.S. insider trading charges on Wednesday, and apologized to a judge for his conduct. Lewis, 86, pleaded guilty to one count of conspiracy to commit securities fraud and two counts of securities fraud, as part of an agreement with the U.S. Attorney's office in Manhattan. Addressing U.S. District Judge Jessica Clarke, Lewis said he knew at the time that what he was doing was wrong. Lewis was charged by federal prosecutors with 16 counts of securities fraud and three counts of conspiracy, for alleged crimes spanning from 2013 to 2021. While Lewis will not plead guilty to the other counts under the terms of his deal, Clarke said she may consider them for sentencing purposes.

Persons: Joe Lewis, David Zorno, Valerie Figueredo, Lewis, David Zornow, Jessica Clarke, Patrick O'Connor, Bryan Waugh, Clarke, Damian Williams Organizations: U.S, Tottenham Hotspur, Tavistock Group, Forbes, Aviva, Prosecutors, Mirati Therapeutics, BCTG, Tango Therapeutics, Manhattan U.S Locations: Manhattan, New York City, United States, New York , Florida, Georgia, Mirati

☆ Trump SPAC has tripled since the Iowa caucuses
▼ + stars: | 2024-01-23 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Digital World’s share price spiked 88% to 19-month highs on Monday alone. Since Trump’s landslide victory in the Iowa caucuses on January 15, Digital World shares have more than tripled. That in turn drives the share price even higher, creating further losses for short-sellers. Jay Ritter, a finance professor at the University of Florida, expressed shock at the stock spike for Digital World. Neither Trump Media & Technology Group nor Digital World responded to requests for comment.

Persons: that’s, Donald Trump, That’s, Ron DeSantis, Trump, ”, Matthew Tuttle, Tuttle, –, what’s, Jay Ritter, “ It’s, ” Ritter, Ritter, “, he’s, ” Tuttle Organizations: New, New York CNN, Truth Social, Trump Media & Technology Group, Florida, Trump, New Hampshire, Tuttle Capital Management, University of Florida, GameStop, SEC, & $ Locations: New York, United States, New, Iowa, “ After Iowa

☆ Digital World Shares Surge as Republican Primary Field Narrows
▼ + stars: | 2024-01-22 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Shares of Digital World Acquisition Corporation, the cash-rich shell company that plans to merge with former President Donald J. Trump’s social media company, soared as much as 70 percent on Monday, a day after Gov. Ron DeSantis of Florida dropped out of the race for the Republican presidential nomination and brought Mr. Trump even closer to securing it. The jump reflected investors’ enthusiasm around Trump Media & Technology Group, the beleaguered company that has been trying since 2021 to merge with Digital World, a special purpose acquisition company. Digital World raised roughly $300 million in its September 2021 initial public offering — money that the Trump company needs to run its business. Digital World’s shares had already more than doubled since Mr. Trump won the Iowa caucuses on Jan. 15.

Persons: Donald J, Ron DeSantis, Trump, ”, Kristi Marvin Organizations: Acquisition Corporation, Gov, Republican, Trump Media & Technology Group Locations: Florida, Iowa

☆ Today's GenAI models are cost and energy pigs. Quantum tech could fix that.
▼ + stars: | 2024-01-19 | by ( Julie Bort | ) www.businessinsider.com time to read: +7 min

Zapata, a startup spun out of Harvard, uses quantum physics math to train GenAI models with less data. AI models must be regularly fed. AI models also require hefty, energy-consuming GPU chips. Since founding that year, Zapata has 18 patents and patents pending on its AI tech, it says. And quantum tech could be among the alternatives.

Persons: Zapata, Andretti, —, Guido Appenzeller, Christopher Savoie, Mario, Michael Andretti's SPAC, it's, GenAI Zapata, OpenAI, hasn't Organizations: Andretti Racing, Service, America, Intel's Data, CNBC, Nvidia, Andretti Global, Andretti, Corp, Zapata, BMW, Computer, Fujitsu, Google, IBM, Meta, Microsoft, Comcast Ventures, Ventures, Bloomberg Locations: Harvard, Zapata, Savoie

☆ Circle confidentially files for IPO following banner year for crypto stocks
▼ + stars: | 2024-01-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

The public listing is expected to take place once the SEC finishes its review, "subject to market and other conditions," Circle said in the two-paragraph press release Thursday. Founded in 2013, Circle is best known as the issuer of USD Coin, the world's second-biggest U.S. dollar pegged stablecoin, which was launched in 2018. But the SPAC market collapsed in 2022, and Circle ended that agreement in December of that year, just after crypto exchange FTX spiraled into bankruptcy. Coinbase , which took a stake in Circle in August, jumped almost 400% in value in 2023, and other crypto stocks such as MicroStrategy and bitcoin miner Marathon Digital enjoyed hefty rallies. WATCH: SEC approves spot bitcoin ETFs

Persons: USDC, Bitcoin, — CNBC's Rohan Goswami Organizations: U.S . Securities, Exchange Commission, SEC, U.S, Concord, Corp, Marathon Digital

☆ Trump’s Truth Social Platform Could Struggle to Survive Without New Cash
▼ + stars: | 2023-11-16 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump’s social media company is running on fumes and could be at risk of folding if it doesn’t find new funds in a hurry. In a regulatory filing this week, auditors for Trump Media & Technology Group expressed doubt about the company’s ability to continue as a “going concern” without new financing. The filing also made clear that Trump Media desperately needs to complete its long-delayed merger with a cash-rich shell company so that it can tap $300 million in cash, especially if its flagship online platform, Truth Social, has any chance of surviving. If the transaction goes through, it could value Trump Media at $1 billion based on Digital World’s share price of $16.60. Yet, the rich valuation is no guarantee that the company, which largely relies on advertising revenue from Truth Social — and Truth Social itself — will be a viable business.

Persons: Donald J Organizations: Trump Media & Technology Group, Trump Media, Trump, Acquisition Corporation, Truth

☆ Donald Trump's Truth Social loses tens of millions of dollars this year
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Donald Trump launched Truth Social after he was banned from X/Twitter following the January 6 riots. AdvertisementDonald Trump's social media platform, Truth Social, has lost tens of millions of dollars this year, according to SEC filings released Monday. AdvertisementDigital World has now asked investors to extend the deadline for the Truth Social deal. Although the former president's X account has since been reinstated, he's upheld an exclusivity deal to post first on Truth Social. AdvertisementHowever, Truth Social has struggled to attract the same level of interest compared with social media platforms.

Persons: Donald Trump, —, Donald, Trump, Devin Nunes, he's Organizations: Service, SEC, World, Corp, Truth Social, Trump Media, Technology, Department of Justice, Truth, CNBC, Twitter, Big Tech, Social, Trump, Forbes

☆ Trump's Truth Social reports $73 mln net loss since launch
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Dave Sanders/Pool via REUTERS//File Photo Acquire Licensing RightsNov 13 (Reuters) - Former U.S. President Donald Trump's social media platform Truth Social has lost $73 million since its launch in early 2022, a securities filing by Digital World Acquisition Corp (DWAC.O), the SPAC that plans to merge with the company, showed on Monday. Trump had announced the launch of his social media app in Oct 2021, saying it would "stand up to Big Tech" companies such as Twitter and Facebook that previously barred him. In 2022, Truth Social posted a loss of $50 million, with net sales of just $1.4 million. It lost $23 million in the first half of this year, with net sales of $2.3 million. Trump Media & Technology Group's (TMTG) independent registered public accounting firm has indicated that the financial condition raises substantial doubt as to its ability to continue as a going concern, according to the filing.

Persons: Donald Trump, Dave Sanders, Donald Trump's, Trump, TMTG, Maria Ponnezhath, Nivedita Organizations: U.S, Trump Organization, Court, REUTERS, Former U.S, World, Big Tech, Twitter, Facebook, Trump Media & Technology, Digital, Thomson Locations: New York, Manhattan, New York City, U.S, Former, Bengaluru

☆ Trump's social media company has lost over $31 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Truth Social is the alternative social media platform backed by former President Donald Trump, who posts on it several times a day. If the merger does not happen, the DWAC filing warned, TMTG might be unable to "fully develop" Truth Social. Trump returned to X in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: TMTG, Donald Trump, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Trump Media, Technology Group, Truth, SEC, Securities and Exchange, Trump, Republican, DWAC, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

☆ Trump's Truth Social has lost $73 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

In its first fiscal year ending Dec. 2022, TMTG, Truth Social's parent company, lost over $50 million on $1.4 million in sales. Given that origin story, Truth Social has branded itself as a safe haven from "Big Tech censorship," a vision that must be realized for Truth Social to maintain any sort of competitive advantage, according to the filing. Trump returned to X, the platform formerly known as Twitter, in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: Donald Trump, Joe Biden's, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Acquisition Corporation, Trump Media, Technology Group, Trump, Republican, DWAC, Securities and Exchange Commission, Truth, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

☆ Lloyd's of London SPAC venture scrapped due to volatile markets
▼ + stars: | 2023-11-13 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

A view shows the Lutine Bell during an event to mark accession of Britain's King Charles at the Lloyd's Building in the City of London, Britain, September 15, 2022. The special purpose acquisition company (SPAC) had unveiled plans to combine with London Innovation Underwriters (LIU) and raise additional funds to deploy in the Lloyd's of London insurance market. The SPAC has an end of year deadline to use funds raised for a takeover, and said it would not seek an extension. LIU said it would consider exploring alternative options to pursue its strategy of accessing the Lloyd's of London insurance market. The failed effort comes amid a dearth of new listings in London and concerns over its appeal as a capital markets hub, despite profits at Lloyds of London which are booming thanks to rising prices for insuring commercial risks.

Persons: Britain's King Charles, Sarah Meyssonnier, LIU, Huw Jones, Sinead Cruise, Jason Neely Organizations: City of, REUTERS, Financials, London Innovation Underwriters, Company, Corp, Lloyds of, Thomson Locations: City, City of London, Britain, London, Lloyds of London

The special purpose acquisition company (SPAC) unveiled plans earlier this year to combine with London Innovation Underwriters and raise additional funds to deploy in the Lloyd's of London insurance market. The deal by Financials Acquisition Corp differs from a typical SPAC merger because the company has set up London Innovation Underwriters itself. It is not the first time that public market investors in London have backed a new insurance venture. In 2020, Conduit Holdings (CRE.L) listed on the London Stock Exchange, subsequently starting reinsurance activities. UBS and HSBC are joint global coordinators to the Financials Acquisition deal.

Persons: Britain's King Charles, Sarah Meyssonnier, William Allen, Lloyd's, Beazley, Carolyn Cohn, Pablo Mayo Cerqueiro, Anousha Organizations: City of, REUTERS, Financials, London Innovation Underwriters, Lloyds, Innovation Underwriters, Conduit Holdings, London Stock Exchange, UBS, HSBC, Thomson Locations: City, City of London, Britain, London, Lancashire, Lloyd's

☆ Tucker Carlson media company signs its first ad deal
▼ + stars: | 2023-10-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Former Fox News host Tucker Carlson's new media company has officially signed its first advertising deal. Preliminary details of the agreement between Carlson's new media company and PublicSq. Carlson's new company is named Last Country, according to The Wall Street Journal. Carlson's departure from Fox News came after the network's parent company settled Dominion Voting Systems' defamation lawsuit for $787.5 million. Since it went public, PublicSq.

Persons: Tucker, Michael Seifert, Carlson, Seifert, Donald Trump, Vivek Ramaswamy, Nick Ayers, Mike Pence, Former U.S . Sen, Kelly Loeffler, Neil Patel, Patel, Omeed Malik, Malik Organizations: Fox News, CNBC, PublicSq, New York Stock Exchange, Wall Street, Twitter, Republican, Systems, Former U.S ., U.S . Chamber of Commerce, Amazon, Chamber of Commerce, Colombier Locations: PublicSq, Capital

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