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☆ Macao gambling promoter Alvin Chau sentenced to 18 years - public broadcaster
▼ + stars: | 2023-01-18 | by ( Philip Wang | ) edition.cnn.com time to read: +1 min

CNN —Alvin Chau, one of Macao’s high-profile gambling promoters, has been sentenced to 18 years in prison for racketeering and illegal gambling activities, the city’s public broadcaster TDM reported Wednesday. Chau, 48, was the former chairman of Suncity Group, a Macao-based company that helped promote gambling by lending credit to high rollers. Macao is the only region in China where gambling in casinos is legal. Chau was ordered by the court to pay the Macao government more than HK$6.5 billion ($830 million), the broadcaster reported, as well as $22.7 mlliion to $98 million to a number of casino operators. After his arrest, experts said that the move signaled a tougher stance on gambling in Macao by the Beijing authorities.

The EU froze funds earmarked for Hungary and Poland over their nationalist governments' track record of undercutting liberal democratic rules. Portugal had disbursed 1.4 billion euros, or 8.5% of the total recovery funds assigned to it, to project promoters by the end of 2022. Romania and Portugal are the two countries pushing hardest to extend the 2026 deadline and Spain and other Eastern European countries are supporting their demands, a source with knowledge of the negotiations said. Some countries are devising workarounds for projects that are particularly important and look like they are unlikely to meet the deadline, said a source. This would imply budgeting and allocating funds before the projects have been commissioned in order to meet the 2026 deadline, the person said.

☆ The most ridiculous ways accused Capitol rioters got caught, from bad Bumble matches to an unbelievable Uber ride
▼ + stars: | 2023-01-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +13 min

Without further adieu: The least surprising ways Capitol rioters got caught. 2 accused rioters made big Bumble blundersThese accused rioters' reach for romance landed them in trouble with the law. Officials charged Alam with several counts last year and he pleaded guilty to all charges in December 2021, according to the Justice Department. An unbelievable Uber ride was this accused rioter's downfallAlleged defendant Jerry Daniel Braun was turned in by his get-away car driver, according to court documents. "Well, because, so we could get to the Capitol," Braun replied.

☆ India's Lotus Chocolate rises 5% on selling majority stake to Reliance Retail
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 30 (Reuters) - Shares of Lotus Chocolate Co (LOTU.BO) rose 5% on Friday, a day after a unit of Reliance Retail Ventures agreed to buy a majority stake in the Indian chocolate maker for 740 million rupees ($8.94 million). Reliance Consumer Products Limited (RCPL), the fast-moving consumer goods arm of Reliance Retail, will acquire a 51% stake from promoters at 113 rupees a share and will also subscribe to some non-noncumulative redeemable preference shares. RCPL would also make an open offer to acquire 26% from public shareholders of Lotus. Reliance Industries (RELI.NS), led by Indian billionaire Mukesh Ambani, has diversified from its mainstay oil-to-chemical business with a strong focus on retail and telecom. ($1 = 82.7580 Indian rupees)Reporting by Nallur Sethuraman in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Melania Trump distrusted her husband's advisors, including his own son, Donald Trump Jr, Stephanie Grisham told the Jan. 6 committee
▼ + stars: | 2022-12-30 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Melania Trump mistrusted many of her husband's closest advisors, Jan. 6 committee transcripts show. These included his son, Donald Trump Jr, former Trump aide Stephanie Grisham told the committee. Stephanie Grisham, who served as White House press secretary and as a senior aide to Melania Trump, told the committee in her testimony that the former first lady was skeptical of the intentions of some of the president's children. Grisham claimed in her 2021 memoir that the first lady also didn't get along with Trump's eldest daughter, Ivanka Trump. Former Attorney General Bill Barr described staff members President Donald Trump brought on after the November election as the "clown car."

☆ Eyeliner Out of Stock? Blame TikTok
▼ + stars: | 2022-12-22 | by ( Liz Young | ) www.wsj.com time to read: +7 min

Sonya Dube went to buy more of one of her favorite makeup products, a Charlotte Tilbury highlighter, this summer only to find it was out of stock—again. So, it was only natural that Ms. Dube turned to TikTok to document her exasperation at not being able to find another bottle. Viewers often can click a link to buy an item right away, making the shopping experience nearly seamless—if the product is in stock. Charlotte Tilbury has sought to adapt its supply chain to respond to customer demand as products go viral, a company spokesperson said. “We do our best to hold enough stock to get us through moments like these,” Ms. Schakler said.

☆ The man behind Trump World’s myth of rigged voting machines
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +32 min

He publicly announced his purchase of Montgomery’s data in August at a gathering in Missouri of hundreds of his followers. “I own it,” Lindell said of Montgomery’s data, touting it as irrefutable proof Trump was cheated. On Nov. 9, far-right podcaster Joe Oltmann linked Montgomery’s Hammer and Scorecard claims to a parallel conspiracy theory: that widely used voting machines manufactured by Dominion Voting Systems were rigged to flip votes from Trump to Biden. Powell amended her complaint a few days later and dropped the expert’s declaration and the references to Montgomery’s claims. But the government said in a recent court filing that the order has nothing to do with election data.

☆ Indian shares dip on weak global cues; autos, FMCG stocks slide
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 20 (Reuters) - Indian shares opened lower on Tuesday on fears of a recession in the U.S. and a surge in COVID-19 cases in China, which has offset optimism over loosening strict pandemic restrictions. Barring Adani Enterprises (ADEL.NS) and State Bank of India (SBI.NS), all the other 48 constituents in Nifty 50 logged losses. All the major sectoral indices declined with auto (.NIFTYAUTO), FMCG (.NIFTYFMCG), information technology (.NIFTYIT) and metal (.NIFTYMET) stocks shedding over 0.5%. Asian markets declined on weak cues, such as a surge in new COVID-19 infections in China and weak macroeconomic indicators, with MSCI Asia ex Japan (.MIAPJ0000PUS) falling 0.54%. ($1 = 82.7200 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ It's not just Taylor Swift. Musicians describe the 'demented struggle' of touring in a shrinking industry where one giant company sells the tickets for most major venues.
▼ + stars: | 2022-12-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

On top of that, the Justice Department is reportedly investigating the 2010 merger of industry leaders Ticketmaster and Live Nation. Live Nation Entertainment said in a statement that it owns and operates just over 100 of the nearly 4,000 total live music venues in the United States. "Put simply, artists, venues, and consumers should no longer be at the mercy of a single seller," Sens. At the same time, Live Nation Entertainment is seeing a record year due to more shows than ever. "We always welcome the opportunity to discuss important issues facing the live entertainment industry," Live Nation said in a statement.

☆ Boies law firm makes odd moves in FTX case against Tom Brady, celebs
▼ + stars: | 2022-12-15 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

That was apparently not what the Boies and Moskowitz firms were hoping. In mid-November, the firms filed the first of their three FTX lawsuits in federal court. On Nov. 21, the Boies and Moskowitz firms filed a second FTX class action, this time on behalf of non-U.S. FTX customers. The day after Bloom’s assignment to the case, the Moskowitz and Boies firms voluntarily dismissed the two previously-filed FTX class actions before Moore and Gayles. “As we got more cases, we filed more cases,” Moskowitz said.

☆ Why Tom Brady, David Ortiz, Jimmy Fallon and other celebrities are getting sued over crypto
▼ + stars: | 2022-12-14 | by ( Jennifer Korn | ) edition.cnn.com time to read: +4 min

Tom Brady, Madonna, Gwyneth Paltrow and baseball Hall-of-Famer David Ortiz are just some of the big names facing lawsuits from investors as the crypto world crumbles in the wake of FTX’s fall from grace. The backlash started earlier this month, when a class-action suit was filed against celebrities, including Jimmy Fallon, Justin Bieber and Serena Williams for promoting Bored Ape Yacht Club NFTs. None of the celebrities named in the lawsuits immediately responded to requests from CNN for comment. Investors in FTX are not expected to be able to recover their money, the company’s CEO testified on Capitol Hill Tuesday. And after the crypto market bust and a round of lawsuits, celebrities may think twice about what they endorse in the future, too.

☆ Cramer: Apple, Amazon, Microsoft and Google will fuel the next rally — but not in the usual way
▼ + stars: | 2022-12-11 | by ( Jim Cramer | ) www.cnbc.com time to read: +8 min

Those who fought this trend abandoned Twitter, hired bodyguards and tried to hide from the angry mob that was attempting to will stocks higher by savaging the sellers. As a result, they overran their brains and outsourced them to others who claimed to know more than they did. My point is this: The crypto con and the Robinhood dollar conflagration can't produce enough money to buoy stocks. We will hold Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL) and Amazon , even as we've trimmed them higher. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, McDonald's, Netflix, Carvana, Microsoft & more
▼ + stars: | 2022-12-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Cowen names Costco a top 2023 pick Cowen said Costco is well positioned in a deteriorating macro environment. " Cowen names Caterpillar a top 2023 pick Cowen said the company is well positioned heading into 2023. Cowen names Netflix a top 2023 pick Cowen said it sees free-cash flow ramping up for Netflix in 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said investors should take advantage of any weakness and buy the dip in shares of Apple . Morgan Stanley reiterates Lululemon as overweight Morgan Stanley said the company's fundamentals remain strong after its earnings report on Thursday. "

☆ Kim Kardashian and other celebrities beat crypto investors’ lawsuit
▼ + stars: | 2022-12-08 | by ( ) edition.cnn.com time to read: +2 min

The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. US District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. Kardashian agreed in October to pay the SEC $1.26 million to settle claims that she failed to disclose she was paid to promote EthereumMax tokens.

☆ EMax crypto investors’ lawsuit against Kim Kardashian, Floyd Mayweather Jr., other celebrities dismissed
▼ + stars: | 2022-12-07 | by ( ) www.nbcnews.com time to read: +2 min

The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. U.S. District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. While the investors may revise those claims, Fitzgerald permanently dismissed their claim under California’s consumer protection law, which he said applies to tangible goods and services, not “intangible goods” such as cryptocurrency.

☆ Federal judge dismisses crypto scam lawsuit against Kim Kardashian, Floyd Mayweather Jr.
▼ + stars: | 2022-12-07 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

A federal judge on Wednesday dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and boxer Floyd Mayweather Jr. over their promotion of the cryptocurrency on social media. Investors who bought EMAX tokens alleged they had suffered losses after taking the word of the celebrity influencers about the value of the crypto. The suit claims the defendants engaged in a conspiracy to artificially inflate the value of the EMAX tokens. "We're pleased with the court's well-reasoned decision on the case," Michael Rhodes, a lawyer for Kardashian, told CNBC. Fitzgerald in his ruling Wednesday said the EthereumMax lawsuit reflects a broader conflict surrounding celebrity and influencer promotional schemes.

☆ IRS Proposes New Rules to Police Land-Conservation Tax Deals After Court Losses
▼ + stars: | 2022-12-06 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

Senior Internal Revenue Service officials say syndicated conservation easement transactions are tax shelters that deprive the government of billions of dollars in revenue. WASHINGTON—The Internal Revenue Service moved to shore up its ability to attack aggressive land-rights tax deals after losing several court decisions. The agency on Tuesday proposed regulations that would require participants and promoters of so-called syndicated conservation easement transactions to disclose those deals to the government, with steep penalties for omissions. The move would help the IRS identify and audit the easement deals, which senior IRS officials say are tax shelters that deprive the government of billions of dollars in revenue.

☆ Some Trump Jewish Allies at Breaking Point After Kanye West, Nick Fuentes Meeting
▼ + stars: | 2022-12-04 | by ( Aaron Zitner | ) www.wsj.com time to read: 1 min

Dov Hikind has said that the image of any political leader will suffer for failing to sever ties with former President Donald Trump. Dov Hikind, a prominent Jewish leader in Brooklyn, endorsed Donald Trump for president in 2020. After Mr. Trump’s recent dinner with two prominent promoters of anti-Semitic rhetoric, Mr. Hikind said he won’t support Mr. Trump again. “It is over, it is finished,” Mr. Hikind, whose 36-year run as a state lawmaker ended in 2018, said of his support for the former president. He has disqualified himself from any of us supporting him ever again.”

☆ Fury says he may need surgery on right elbow
▼ + stars: | 2022-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] Boxing - WBC World Heavyweight Title - Tyson Fury v Derek Chisora - Tottenham Hotspur Stadium, London, Britain - December 3, 2022 Tyson Fury celebrates after winning his fight against Derek Chisora Action Images via Reuters/Andrew CouldridgeLONDON, Dec 4 (Reuters) - WBC heavyweight world champion Tyson Fury said he might need elbow surgery, potentially delaying a unification showdown with Ukrainian rival Oleksandr Usyk early next year. The Briton told ESPN television after his 10th-round stoppage of title challenger Derek Chisora on Saturday that his right elbow was the problem. "I’ve got some hand problems and I’ve got to maybe have some surgery on my elbow but after that, I’m ready for anybody," he said. Fury taunted Usyk, who was ringside for the fight at London's Tottenham Hotspur stadium, and challenged him to get the fight on. read moreThe Briton also said he would take on his undefeated compatriot Joe Joyce, the 2016 Olympic super-heavyweight silver medallist, at Wembley if the Usyk fight could not be made.

☆ The SEC is suing real-estate mogul Kent Swig's shady crypto partner for perpetuating a 'pump-and-dump' scheme with a different gold-backed crypto currency
▼ + stars: | 2022-12-01 | by ( Alex Nicoll | Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Now the SEC is suing the CEO of Swig's company for an earlier, separate gold-backed crypto scam. According to the SEC, Braverman was said to be the chief operating officer of one of two companies the regulator targeted in the complaint. When Swig's company announced Digau, cryptocurrencies were on a sugar high, with bitcoin trading above $60,000. Neither Swig nor Dignity Gold would reveal to Business Insider any of the specific site locations where the company plans to mine. To extract the gold, Swig partnered with a mining company called Apache Mill Tailings.

☆ Read the pitch deck for a startup that's aiming to disrupt film production in Hollywood with an app that's 'like fantasy football for film buffs'
▼ + stars: | 2022-11-29 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Startup production company Legion M is crowdsourcing funds and promising to give movie fans greenlight power. Legion M, founded by Paul Scanlan and Jeff Annison, lets investors buy shares for as little as $40. Legion M now has four films in post-production slated to be released in 2023, the cofounders added. Legion MLegion MLegion MLegion MLegion M'A company with a built-in audience for everything it creates'One slide spells out the potential power of one million fan-investors — as consumers, promoters, and predictors of successful projects. Legion MThe Nicolas Cage film 'Mandy' was an early success for Legion MLegion MLegion MLegion MLegion MLegion M says its annual revenue has surpassed $1 millionLegion MLegion MLegion M

☆ Miami nightclub owners are struggling with slumping sales after losing top-spending crypto clientele in wake of FTX implosion and crypto downfall, report says
▼ + stars: | 2022-11-27 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Miami club owners told the Financial Times business is slumping as the crypto industry takes a blow. Crypto, tech, and hedge fund leaders came to the city en masse during the pandemic. But in the wake of the FTX implosion, some of the city's top spenders have vanished. Now, with the downfall of companies like FTX, club owners and promoters aren't quite certain if big spenders will return, as the value of cryptocurrencies take a nosedive and major players like Sam Bankman-Fried hemorrhage vast amounts of their net worth. According to the FT, FTX paid $135 million to secure 19 years worth of naming rights to FTX Arena, home to the Miami Heat.

☆ A new player in the grocery software space just raised $10 million to compete in the nearly $150 billion online grocery segment. Check out the 13-page pitch deck that helped Vori secure the deal.
▼ + stars: | 2022-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Vori raised a $10 million Series A for its grocery-inventory software aimed at indepedent grocers. Vori, an inventory-management startup, pitches itself as a solution for those smaller grocers — a position that just helped it raise $10 million. Vori's inventory software provides inventory services to grocers that might only have a few stores, Hill said. "Our customers have been our most active and enthusiastic investors," Hill said. Check out the 13-slide pitch deck that Vori used to raise its $10 million Series A round:

☆ Billionaire Bill Ackman says crypto 'is here to stay' in the wake of the FTX collapse, as the one-time skeptic outlines some of his investments
▼ + stars: | 2022-11-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Billionaire investor Bill Ackman said "crypto is here to stay," in a Tweet thread published Sunday. Calling himself an initial crypto skeptic, Ackman said he is a small investor in a "hobbyist" capacity. He outlines his crypto observations following the dramatic collapse of crypto exchange FTX. "As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to believe that crypto can enable the formation of useful businesses and technologies that heretofore could not be created." The world's once third-largest crypto exchange founded by Sam Bankman-Friend is seeking bankruptcy protection in the US and could leave up to 1 million creditors exposed to losses.

"It is more complicated than your plain vanilla crypto exchange story," she said. FTX filed for bankruptcy on Nov. 11 and is facing scrutiny from U.S. authorities. The lawsuit filed on Tuesday did not name FTX as a defendant but instead targeted individuals. New lawsuits may also target celebrity promoters of FTX crypto products. Future investor lawsuits over the FTX meltdown are likely to allege claims beyond securities registration and consumer protection violations, plaintiffs' attorneys said.

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