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"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
New Zealand's Defence Minister Andrew Little poses for a picture in Wellington, New Zealand, March 30, 2023. Launching the country's first national security strategy, Defence Minister Andrew Little said New Zealand faced more geostrategic challenges than it had in decades. The inaugural security strategy underscores how China's rise is upending old norms and behaviours even 9,000 kilometres (5,592 miles) away in Wellington. Chinese state-sponsored actors had exploited cyber vulnerabilities in ways that undermined New Zealand's security, said another document that did not provide further details. "The changes in the domestic and international security environment mean our response and preparedness must change too," Little said.
Persons: Andrew Little, Lucy Craymer, Little, Kevin Short, Lewis Jackson, Simon Cameron, Moore, Gerry Doyle Organizations: Zealand's, REUTERS, Defence, Zealand, New, Labour, New Zealand Defence Force, Thomson Locations: Wellington , New Zealand, New Zealand, Wellington, China, New, Australia, U.S, Vietnam
CNN —The number of migrants crossing the treacherous Darien Gap, a mountainous rainforest region that connects South and Central America, has broken a new record, according to immigration officials in Panama. The Panama migration authority’s deputy director Maria Isabel Saravia told media that 2022’s already-high number of crossings was surpassed on Monday. “With today and yesterday’s crossings of 1,869 people, there have been 248,901 crossings,” Saravia said Monday. As the figures anticipated, we exceeded last year’s number (…) The last three years have been much higher than the last 11 years in crossings,” Saravia added. The 60-kilometer (37 mile) hike through the Darien Gap brings migrants from Colombia to Panama and is a crucial passage for those hoping to reach the United States and Canada.
Persons: Maria Isabel Saravia, Saravia Organizations: CNN, Central America, , Department of Homeland Security Locations: Darien, South, Central, Panama, Colombia, United States, Canada, Mexico, Texas
The chip shortage has ailed the auto industry since early in COVID, but a bigger issue is surfacing. Automakers are starting to see the impacts of the electric vehicle battery crunch. It's official: The battery crunch is the new chip shortage. The chip shortage is still impacting vehicle supply, experts say, but automakers are now having to reckon with the battery supply chains as an even bigger headwind. Challenges surrounding electric vehicle production and the battery supply chain are finally materializing for legacy automakers and impacting their bottom lines.
Persons: Jim Farley, Elon Musk, Tesla, Mary Barra, Barra, Oliver Blume Organizations: Ford, Morning, GM, Porsche, Tesla, Battery Locations: COVID, Canadian, EVs
The owner of embattled network Cheddar News is reportedly considering selling the seven-year-old startup. NYT's DealBook reported on Monday that Altice USA tapped Goldman Sachs to explore a possible sale. NYT reporters Lauren Hirsch and Ben Mullin noted a sale isn't a foregone conclusion and Altice USA could decide not to proceed. Spokespersons for Altice USA did not immediately respond to Insider's request for comment on Monday morning and a spokesperson for Goldman Sachs had no comment. Check out Insider's exclusive coverage of the chaos at Cheddar News:Are you a Cheddar News or Altice USA insider?
Persons: DealBook, Goldman Sachs, Lauren Hirsch, Ben Mullin, Altice, , I'd, Baker Machado, Chloe Aiello, Read, I've, Jon Steinberg, Steinberg, Reed Alexander Organizations: News, Telecom, Altice USA, Cheddar News, New York Times, USA, Insiders, Mail, Cheddar Locations: USA, Cheddar, Portugal
BOGOTA, July 14 (Reuters) - Four Colombian Indigenous children who survived a plane crash in the country's Amazon region and lived for more than five weeks in the jungle have been released from hospital after a 34-day stay, the government said on Friday. The children, aged 1 through 13, survived the May 1 crash that killed their mother and two other adults and were found last month. The Indigenous children's knowledge of the jungle, as well as the eldest sister's courage, have been credited by officials with saving their lives. "They have recovered size and weight, really they are very well," Astrid Caceres, the director of the country's child welfare institute, told journalists. Both the father of the two youngest children and their mother's family have told media they want custody.
Persons: Astrid Caceres, Caceres, Carlos Vargas, Julia Symmes Cobb, Deepa Babington Organizations: Thomson Locations: BOGOTA, Colombian
China's youth unemployment rate hit a record high of 20.8% in May. On June 13, the Radii media outlet tweeted a photo collage of some of these graduating students donning black or purple graduation gowns in various poses. While this particular pose is trending this year, this graduation season's posts were often accompanied by other happier pictures of the graduating students. It also isn't the first time graduates in China have taken unusual graduation photos, according to posts seen by Insider on Xiaohongshu. These trending poses of despondence come as China's youth unemployment rate hit a record high of 20.8% in May, according to official statistics.
Persons: , despondence, Nomura, Brenda Lu, Lu Organizations: Service, CNBC, Washington Post Locations: China
This week has been rough for air travelers in the United States, but we have flight attendants’ secrets for surviving summer travel. Waterfront real estateThe US General Services Administration is giving away or auctioning lighthouses in New England. Like the small towns in Italy selling off houses for just 1 euro, these lighthouses come with stipulations. Written in stoneAnd while we’re on the subject of summer travel peak season, this period is often tourists-behaving-badly season. Dr. Sij Hemal was on a flight from Paris to New York when a fellow passenger reported severe abdominal pains.
Persons: CNN — It’s, you’ve, Ivan, Haley, , Sig Hemal, Susan Shepherd, Sij Hemal, Chelsea Dickenson, Dickenson, Richard Quest, Beckham Organizations: CNN, General Services Administration, Police, Cleveland, Asahi Shimbun Locations: United States, New England, Italy, Rome, United Kingdom, Paris, New York, Japan, Tottori Sand, Tokyo, Nagoya, Tottori, British, Macao, Vegas of Asia
LAHORE, June 29 (Reuters) - Pakistan's finance minister said a staff level agreement for a crucial bailout deal with the International Monetary Fund was "very close" and expected in the next 24 hours. "We are very close to signing a staff level agreement with the IMF," minister Ishaq Dar told Reuters late on Thursday. A source familiar with talks told Reuters that Pakistan and the IMF were also in discussions for the release of the full $2.5 billion pending under the IMF programme. A representative for the IMF in Pakistan did not immediately respond to a request for comment. It was unclear what portion of the funds would be released in the announcement he expected in the next 24 hours.
Persons: Ishaq Dar, Dar, Asif Shahzad, Charlotte Greenfield, Andrew Heavens, Alison Williams Organizations: International Monetary, IMF, Reuters, Thomson Locations: LAHORE, Islamabad, Pakistan, Lahore
Konrad Bicher began renting Manhattan apartments in 2019, before subletting them out. On top of violating lease agreements, Bicher obtained nearly $600,000 in Covid relief loans. The self-proclaimed "Wolf of Airbnb" now faces prison time after pleading guilty to fraud. Prosecutors said he failed to make rent payments required by the lease agreements and refused to leave the apartments after the leases expired. When Bicher was indicted in October, Williams said Bicher operated at least 18 apartments in Manhattan "as mini-hotels" while using the pandemic as an excuse not to pay landlords.
Persons: Konrad Bicher, Bicher, Wolf, Airbnb, Prosecutors, Damian Williams, Williams Organizations: Prosecutors, US Small Business Administration Locations: Manhattan, Hialeah , Florida
Royal Caribbean International’s Icon of the Seas is a mammoth 365 meters long (nearly 1,200 feet) and will weigh a projected 250,800 tonnes. Royal Caribbean InternationalIt’s being built at Meyer Turku shipyard, one of Europe’s leading shipbuilders, in Turku, Finland. At an on-site press panel earlier this year, Royal Caribbean International president and chief executive Michael Bayley told media that the vessel was on track to join the Royal Caribbean fleet on October 26, ahead of its 2024 debut. The Icon completed its first set of sea trials on June 22, according to a Royal Caribbean statement. Royal Caribbean InternationalThe ship promises more than 40 ways to dine, drink and be entertained, many of which are included in the cruise fare.
Persons: Michael Bayley, ” Bayley Organizations: CNN, Royal Caribbean, CN, Meyer Turku, Royal Caribbean International, Royal Locations: Finland, Turku, Royal Caribbean, Caribbean, Western, Miami, CocoCay, Beach
United Airlines is hiring over 7,000 aircraft maintenance technicians amid a looming mechanic shortage. Aviation analyst Jonas Murby told Insider companies could address the issue with pay raises and automation. United Airlines is taking a proactive approach to the looming aircraft mechanic shortage. The lack of mechanics is expected to have effects similar to the pilot shortage, which has caused thousands of flight cancelations and forced airlines like American and United to ground regional aircraft. "I recently spoke with aircraft maintenance company Gameco in Guangzhou and they said they automated the entire paint stripping line just because of the mechanic shortage," he told Insider.
Persons: Oliver Wyman, Jonas Murby, Kate Gebo, Gebo, Murby Organizations: Aviation, United Airlines, United, Boeing's, Baby Boomers Locations: Guangzhou
Ukraine's military says it shot down 13 Russian cruise missiles headed for a military airfield in the western region of Khmelnitskyi. In the areas of intense combat, Ukraine says its forces are advancing in the south and stopped a Russian offensive toward the eastern cities of Lyman and Kupiansk. Russian authorities deny the claims of Ukrainian progress, and Russia's forces still hold a large amount of territory in Ukraine's east and south. Ukrainian military leaders admit that the most difficult fighting is yet to come as the country's long-awaited counteroffensive has yet to make significant gains. Meanwhile, the EU has adopted its 11th sanctions package against Russia.
Persons: Kupiansk, Lyman, Hanna Maliar, Maliar Organizations: Russia Locations: Russian, Khmelnitskyi, Ukraine, Lyman, Ukraine's
Cheddar News cut a series of roles on Thursday, the latest blow to its dwindling newsroom. The embattled news network is cutting at least two anchors and several producers, sources said. The embattled network Cheddar News cut a series of jobs on Thursday, resulting in the ouster of at least two senior anchors and numerous other producers and back-office staff, Insider has learned. At Altice USA, news and advertising revenues were down nearly 14% year-over-year, according to the company's most recent earnings report. Do you work at Cheddar News or Altice USA and have additional details to share?
Persons: , Manoj Shamdasani, Altice, , it's, Reed Alexander Organizations: Cheddar, Altice, Cheddar News, Altice USA Locations: Cheddar, Altice USA, newsrooms, New York, Hollywood
Wellington has historically taken a more conciliatory approach towards China than Australia or its other Five Eyes security partners. “Building of North Asia (markets) and the building of Southeast Asia (markets) is really, really crucial because it's de-risks that dependency,” Talbot said. CALLS FOR DIVERSIFICATIONThere is no expectation that New Zealand will stop selling to China. China needs the food and fibre that New Zealand produces and is prepared to pay for it. “China is going to be a really, really fundamental trading partner for this country for the foreseeable future,” Pete Chrisp, chief executive of government funded international business development agency New Zealand Trade and Enterprise.
Persons: Chris Hipkins, Jacinda Ardern, Xi Jinping, , Mathew Talbot, it's, ” Talbot, New Zealand Wang Xiaolong, , ” Hipkins, Hipkins, Li Qiang, Zhao Leji, Xi, It's, Pete Chrisp, Lucy Craymer, Martin Quin Pollard, Lincoln Organizations: New Zealand, New, Alliance, National People’s, New Zealand Trade, Enterprise, Thomson Locations: China, Australia, New Zealand, Wellington, Asia, Southeast Asia, Zealand, North America, Beijing
Paris CNN —A fiery gas explosion in central Paris resulted in injuries to at least 29 people and drew hundreds of firefighters to the scene on Wednesday afternoon. The Paris prosecutor, who is probing the incident, said that early signs indicate that the gas explosion came from within the building that houses the Paris American Academy, according to CNN affiliate, BFMTV. Paris American Academy, a fashion and design school, describes itself on its website as the “first bilingual design school” in the French capitalKent State University, in the US state of Ohio, said all its students at the Paris American Academy are safe and accounted following the blast. Another woman who didn’t want to give her name and lives in a neighboring avenue told CNN that her doors slammed shut from the explosion. Gonzalo Fuentes/ReutersThe local deputy mayor Édouard Civel later explained in a tweet that the impact had been caused by a gas explosion.
Persons: Rue Saint Jacques, Laurent Nunez, , Laure Beccuau, Anne, Gonzalo Fuentes, Édouard Civel, Anne Hidalgo, Gerald Darmanin Organizations: Paris CNN, Rue Saint, CNN, Paris American Academy, BFMTV, Kent State University, Authorities Locations: Paris, Rue, Ohio, Nancy, France
Harry Potter park in Tokyo hopes to enchant Asian fans
  + stars: | 2023-06-14 | by ( ) www.reuters.com   time to read: +1 min
Studio Tour Tokyo - The Making of Harry Potter' during a press preview before it officially opens to the public on June 16, 2023, in Tokyo, Japan June 14, 2023. REUTERS/Issei KatoTOKYO, June 14 (Reuters) - Harry Potter fans will soon be able to take up their wands, put on their robes and immerse themselves in the boy wizard's world at a new theme park set to open in Tokyo on Friday. Built on the western site of the beloved Toshimaen amusement park, which shut in 2020 after 94 years, the Warner Brothers Studio Tour Tokyo recreates a number of iconic film locations, such as Diagon Alley and the Ministry of Magic. Studio Tour Tokyo. "Being the first tour in Asia and the increasing inbound visitors to Japan will also put us in the centre of the regional market," Jensen told media during a tour of the park, saying it offered Asian fans a new dimension in Harry Potter movie-making.
Persons: Harry Potter, Issei Kato TOKYO, Torben Jensen, Jensen, Irene Wang, Elaine Lies, Clarence Fernandez Organizations: Warner Bros, REUTERS, Warner Brothers Studio, Ministry of Magic, Thomson Locations: Tokyo, Japan, Asia
Two lawyers who represented Donald Trump in the months before the former president was indicted on federal charges over his handling of classified documents quit working for him Friday morning. Trusty had made multiple appearances on television news shows Thursday evening and Friday morning to discuss the indictment of Trump in his capacity as his lawyer. Follow our live coverage of Donald Trump's indictment in the classified documents case. Trump first announced the two lawyers were leaving his cases in a post on his Truth Social platform. "We will be announcing additional lawyers in the coming days," wrote Trump, who is due to appear Tuesday in Miami court on the indictment charging him with several crimes.
Persons: Donald Trump, Jim, John Rowley, Rowley, Joe Biden, Trump, Donald Trump's, Todd Blanche, Stormy Daniels, Blanche Organizations: Trump, White, Biden Locations: Miami, New York, Manhattan, Lago, Palm Beach , Florida, American
[1/2] Fiji Prime Minister Sitiveni Rabuka and New Zealand Prime Minister Chris Hipkins hold a press conference in Wellington, New Zealand June 7, 2023. REUTERS/Lucy CraymerWELLINGTON, June 7 (Reuters) - New Zealand and Fiji are finalising a defence agreement that will increase engagement between the two countries militaries and help build capacity and skills in the Fiji Defence Force, the Fijian prime minister said on Wednesday. Fiji’s Prime Minister Sitiveni Rabuka told media in Wellington, where he is meeting senior New Zealand government officials including the prime minister and opposition leader, that the agreement would be finalised next week. “The agreement will allow defence officials to undertake engagement in different areas including capacity building and upskilling and exposure to new technologies interoperability and technical support among other,” he said. In May, the U.S and Papua New Guinea signed a defence cooperation agreement and a maritime surveillance deal.
Persons: Sitiveni Rabuka, Chris Hipkins, Lucy Craymer WELLINGTON, , Rabuka, , ” Hipkins, Lucy Craymer, Michael Perry Organizations: Fiji Prime, Zealand, REUTERS, Fiji Defence Force, Fiji’s, New Zealand, New, U.S, NZ, Thomson Locations: Wellington , New Zealand, New Zealand, Fiji, Wellington, Australia, China, Solomon Islands, U.S, Papua New Guinea, Vanuatu
CHONGQING, CHINA - MAY 4, 2023 - Young technicians test the quality of electronic chips at a dust-free production workshop in Chongqing, China, May 4, 2023. CFOTO | Future Publishing | Getty ImagesIndustry analysts are optimistic that Chinese chip makers will develop their own advanced semiconductors despite Washington's attempts to cut the country off from accessing or manufacturing the technology. Washington also reportedly urged South Korea to not let its chip makers fill Micron's void in China. China is pouring more than 1 trillion Chinese yuan ($140 billion) into its chip industry, according to a Reuters report. Domestic chip makers already benefit from government subsidies and state-backed research projects.
Persons: Daniel Newman, Paul Scharre, Washington, Jensen Huang, Huang Organizations: Getty Images Industry, Futurum Group, CNBC, Nvidia, Huawei, Wall Street, New, Micron Technology Locations: CHONGQING, CHINA, Chongqing, China, New American, May, South Korea, Taipei
But China, which bristles at visits to Taiwan by foreign government officials, tends to ignore trips by business executives, who usually keep clear of politics. Dimon will meet bank employees and clients in Taiwan on his visit, said the source, who sought anonymity as the plans were not public, while adding that no meetings were planned with Taiwan officials. As part of his Asia tour, Dimon will also visit South Korea after the Taiwan trip, said the source. But there was no plan for President Tsai Ing-wen to meet Dimon, her office said on Friday. Dimon favours East-West "derisking" rather than decoupling, he told the three-day JPMorgan Global China Summit event in the city on Wednesday.
Persons: Jamie Dimon, Andrew Collier, Dimon, Nvidia Corp's, Jensen Huang, Pat Gelsinger, Dimon's, Ma Ying, Tsai Ing, Chen Jining, Selena Li, Kane Wu, Scott Murdoch, Ben Blanchard, Emily Chan, Mrinmay Dey, Sumeet Chatterjee, Clarence Fernandez Organizations: JPMorgan Chase &, JPMorgan, Orient Capital Research, Bloomberg, Wall, U.S, Nvidia, Intel, Financial, Commission, Shanghai's Communist, JPMorgan Global China, Thomson Locations: Taiwan, China, Taipei, Beijing, Hong Kong, Asia, South Korea, East, United States, Sydney, Bengaluru
In 2015, a BuzzFeed staffer posted a picture of a dress with the caption, "What color is this dress?" The following is an excerpt from "Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral" by Ben Smith. Jonah saw it differently. From TRAFFIC: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral by Ben Smith. Copyright © Ben Smith, 2023.
FILE PHOTO: New Zealand's finance minister, Grant Robertson, speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. That has heaped pressure on New Zealand’s finances, as the government has had to navigate many challenges including three-decade high inflation, sharply rising borrowing costs, a stuttering economy and falling tax revenue. However, Treasury sees inflation slowing to 3.3% by mid-2024, from the current blistering 6.7% pace, levels not seen since the early 1990s. Much of the worsening in the accounts is due to falling tax revenue as the economy slows. S&P Global Ratings retained New Zealand’s AAA ratings, but warned of pressure ahead.
WELLINGTON (Reuters) - New Zealand on Thursday announced a worse-than-forecast budget deficit as a lower tax take, higher inflation and a slowing economy hit its coffers, forcing the ruling Labour government to keep new spending at a minimum and raising its bond programme. FILE PHOTO: New Zealand's finance minister, Grant Robertson, speaks about the "wellbeing" budget in Wellington, New Zealand, May 30, 2019. The country is projected to record a NZ$6.96 billion deficit for the year to June 2023 versus previous expectations for a deficit of NZ$3.63 billion, and will not return to surplus until 2025-26, a year later than previously forecast. The government announced a NZ$6 billion infrastructure fund, which would help with rebuild costs and fund new more resilient infrastructure over the longer term. “There is not a lot of discretionary spending in this budget,” Robertson added.
Ahead of an election on May 21, a cost-of-living crisis that is eroding earnings is foremost in voters' minds. For Klaoudatou it means voting for anyone but the incumbent conservative New Democracy or the opposition leftist Syriza. Reuters GraphicsThree international bailouts saved Greece from toppling out of the euro zone during a decade-long debt crisis that peaked in 2015. "Εven during the crisis - and this is the joke - I didn't think so much before spending a single extra euro," Klaoudatou told Reuters. Reuters GraphicsPAYCHECK BARELY GETS TO PAYCHECKOne in two Greek households could barely get by on their monthly income last year.
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