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☆ Brazil boosts bird flu defense to protect world's top chicken industry
▼ + stars: | 2023-05-17 | by ( Ana Mano | ) www.reuters.com time to read: +5 min

Per protocol, local veterinarians in Espirito Santo took samples from the birds on site and sent them to the reference lab in Campinas, Brazil. "The entire industry is mobilized to monitor the situation identified in Espirito Santo," national meat lobby ABPA said in a statement. In other countries, avian flu outbreaks in wild birds have frequently been followed by transmission to commercial flocks. Bird flu outbreaks have contributed to higher prices of poultry and eggs, normally an affordable source of protein. Since early 2022, wild birds have spread the highly infectious virus farther and wider around the world than ever before.

Two crypto platforms, Voyager and Bittrex, have recently declared bankruptcy, and investors no longer have access to their crypto. To keep your crypto safe with other platforms, consider "cold storage," which refers to keeping your crypto offline. The Voyager and Bittrex bankruptcies are part of a prolonged "crypto winter" along with other crypto company bankruptcies of the past year, including FTX, Celsius, and more. Globally, countries are evaluating Central Bank Digital Currencies, the development of which you can track via the Atlantic Council's website. Regardless of the crypto winter and continuing cascade of crypto platform bankruptcies, digital currencies aren't going anywhere anytime soon.

"Our commitment to Juventus is unchanged and no meetings have taken place," a spokesperson for Exor said when asked to comment by Reuters on Friday. Juventus also faces potential new penalties, including further points deductions, in a separate case over alleged irregularities in payments to players. The Agnelli family has owned the club, which it listed in 2001, almost uninterrupted since 1923. New potential co-investors could include Middle Eastern or Asian sovereign wealth funds, or U.S. funds or family offices, two sources said. Juventus ranked 11th in Deloitte's European Money League published in January, based on its annual revenue of 400 million euros in 2021/22.

☆ Italian fashion group Tod's sales jump in Q1, beating expectations
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Shoes of Italian luxury shoemaker Tod's are displayed in the window of the company's store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann/File PhotoMILAN, May 10 (Reuters) - Sales at Italian fashion group Tod's (TOD.MI) rose by 23% in the first quarter of the year, beating analysts' forecasts thanks to a strong performance in China and despite moderate growth in the Americas. "Considering the good sales trends we experienced in April and the excellent orders' backlog for the winter collections, I'm confident about the group's future results," said Tod's Chairman and CEO Diego Della Valle. In the United States sales rose 6.6%. Tod's CFO said he is confident of achieving the consensus sales figure for the year, currently at 1.1 billion euros.

LONDON, May 4 (Reuters) - U.S. buyout house Blackstone (BX.N) is weighing options for Dutch merchant bank NIBC, including a possible sale, people familiar with the matter told Reuters. Blackstone has also been considering potential acquisitions in the absence of a sale, one person added. The Hague-based NIBC offers financing for industries such as automotive, commercial real estate, infrastructure and shipping, as well as retail mortgages. It has been exiting non-core businesses, including deal advisory and leveraged finance, in a bid to streamline its operations. The group had 22.8 billion euros of assets on its balance sheet at the end of last year and an equity value of around 2 billion euros ($2.21 billion), according to its 2022 annual accounts, which showed a profit of 179 million euros excluding non-recurring expenses.

LONDON, May 4 (Reuters) - U.S. private equity firm Summit Partners is looking to sell a stake in Swiss wealth manager Cinerius Financial Partners amid increasing consolidation in the sector, two people familiar with the matter told Reuters. Summit intends to bring in another private equity fund to help fund Cinerius' growth, particularly through acquisitions, one of the people said. Asset manager BlackRock Inc (BLK.N) provides debt financing for Cinerius' acquisitions through its private credit arm, the person added. BlackRock, Cinerius and Summit Partners did not respond to requests for comment. Belgian private bank Degroof Petercam is reviewing strategic options after drawing interest from rivals, Reuters reported last Friday.

The future of Credit Suisse's business in Switzerland is being closely watched as one of UBS's key strategic decisions. Credit Suisse's Swiss bank is one of the lender's four operating units and is seen as the jewel in the crown. In January, Credit Suisse had moved the business from its broader investment banking division into the Swiss unit, according to Credit Suisse's 2022 annual report. On a possible sale, Ermotti has said all options for the Swiss business are on the table. On Sunday, NZZ am Sonntag newspaper reported that UBS was working towards spinning off Credit Suisse's domestic unit.

The seizure was to "thwart the activity" of Islamic State and "impair its ability to further its goals," the NBCTF said on its website. The NBCTF document, which has not been previously reported, did not give any details on the value of the crypto seized, nor how the accounts were connected to Islamic State. Binance, the world's largest crypto exchange by trading volumes, did not respond to Reuters' calls and emails seeking comment. The U.S. Treasury said in a report last year that Islamic State had received crypto donations it later converted to cash, accessing funds via crypto trading platforms. The owner of the two Islamic State-linked Binance accounts seized by Israel was a 28-year old Palestinian called Osama Abuobayda, the NBCTF document shows.

LONDON, May 4 (Reuters) - Blackstone (BX.N) is weighing options for Spanish gambling company Cirsa, including an initial public offering (IPO), people familiar with the matter told Reuters. The U.S. buyout group recently invited proposals from investment banks to manage a possible share sale and refinancing of Cirsa's debt, said the people, speaking on condition of anonymity. An IPO would follow a public share sale by Italian peer Lottomatica (LTMC.MI), backed by Apollo Global Management (APO.N), whose shares began trading in Milan on Wednesday. Cirsa, a casino operator, posted 552.5 million euros ($609.24 million) in earnings before interest, tax, depreciation and amortisation (EBITDA) for 2022. Based on Lottomatica's valuation, Cirsa could be worth several billions of euros, including debt.

☆ Jeffrey Epstein Documents, Part 2: Movie Screenings With Woody Allen and Dinners With Larry Summers
▼ + stars: | 2023-05-03 | by ( Khadeeja Safdar | David Benoit | ) www.wsj.com time to read: 1 min

Lawrence Summers wanted $1 million to fund an online poetry project his wife was developing. The former Treasury secretary and onetime Harvard University president turned to Jeffrey Epstein . “I need small scale philanthropy advice. My life will be better if i raise $1m for Lisa,” Mr. Summers said in an email to Epstein in April 2014, referring to his wife, Elisa New, a Harvard professor. “Mostly it will go to make it a pbs series and for teacher training.

It may explore a private sale alongside a stock market listing, they added. An IPO might not take place until next year, as market conditions remain challenging for new listings, one person said. LimaCorporate, which designs orthopedic implants, posted revenue of 248.6 million euros ($274.5 million) for 2022, and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 66.2 million euros. It also reported a yearly loss of 27.9 million euros after taxes. EQT was reported in 2020 to be working with advisers on a possible IPO or sale of the business, but a transaction never materialised.

Royal Bank of Canada analysts said the results pointed to a strong performance at BNP's trading arm and good cost control. In securities trading, revenue edged down 1.8% but still performed better than some peers including Deutsche Bank (DBKGn.DE), which saw fixed-income trading decline by 17% in the first quarter. At U.S. bank Goldman Sachs, first-quarter sales from fixed income, currency and commodities (FICC) trading, usually a bright spot, plunged 17% to $3.93 billion, while equity trading revenue sank 7% to $3.02 billion. The first quarter net income, group share amounted to 4.44 billion euros, in line with expectations, and up from 1.84 billion a year earlier. The first tranche of 2.5 billion euros was approved in March, a sign analysts deemed reassuring as it took place shortly after the collapse of Credit Suisse.

Our experts answer readers' student loan questions and write unbiased product reviews (here's how we assess student loans). See Insider's picks for the best student loan refinance companies »Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. APR Variable: 5.38% - 8.99%, Fixed: 4.99% - 8.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 4.74% - 9.99% with AutoPay, Fixed: 4.49% - 9.99% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Show more Variable: 4.99% - 8.94%, Fixed: 4.96% - 8.99% (with AutoPay discount) Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Apply now Apply now Apply nowGetting the most bang for your buckI was an English major at Berkeley.

☆ Italy's FSI invests up to $110 million in debit card operator BANCOMAT
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

MILAN, April 26 (Reuters) - Italian investment fund FSI has agreed to invest up to 100 million euros ($110 million) in debit card operator BANCOMAT to support its expansion in Europe. Under a new business plan drawn up by the company, its main shareholders and FSI, BANCOMAT will complete targeted acquisitions and build a new platform to offer clients a wider range of services and products. In early 2022, it invested in the payments business of cooperative banking group BCC ICCREA, acquiring a 60% stake in electronic payment company BCC Pay. The payments sector has been swept up in a wave of mergers and acquisitions as it seeks the financial muscle to keep up with technological advances while contending with the threat from new entrants. The accord comes after FSI last year signed a preliminary deal for an investment in BANCOMAT.

[1/2] A view shows the logo of Credit Suisse on a building near the Hallenstadion where Credit Suisse Annual General Meeting took place, two weeks after being bought by rival UBS in a government-brokered rescue, in Zurich, Switzerland, April 4, 2023. UBS and Credit Suisse declined to comment. What's more, UBS doesn't tend to lend to potential clients as Credit Suisse has often done, a move that can persuade some customers. "There are clearly parts of Credit Suisse that have had a bad culture," UBS Chairman Colm Kelleher told reporters on March 29. UBS ranked 14th advising on mergers globally last year, behind 11th placed Credit Suisse, according to data compiled by Dealogic.

Gucci is part of French luxury goods group Kering (PRTP.PA). The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The Commission, which acts as the competition enforcer in the 27-country EU, did not name the companies or the countries, in line with its policy. The European Commission declined to comment on Wednesday. Companies found guilty of breaching EU rules face fines of as much as 10% of their global turnover.

MILAN/BRUSSELS, April 19 (Reuters) - EU antitrust regulators and Italian tax police inspected a facility of luxury goods company Gucci as part of a European Union investigation spanning several countries and companies, two sources with knowledge of the matter said on Wednesday. Gucci is part of French luxury goods group Kering (PRTP.PA). The second source said other fashion companies outside the Kering group had been targeted by similar inspections. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The European Commission declined to comment on Wednesday.

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

The investors, who hold some Casino bonds maturing in 2026 and 2027, are seeking to move quickly before details of the tie-up are agreed, the sources added. Other debt being left out of the joint venture could have lower prospects to recover its full value. Casino does not require consent from bondholders to potentially push their holdings into the joint venture, according to two sources. Unrestricted status would allow the joint venture to potentially list on a stock exchange and receive capital from a third party. Casino and Teract said in a joint statement in March that discussions have already started with potential investors about providing the additional capital.

In addition to mergers and acquisitions, the options include a sale of the bank and an initial public offering (IPO), the people said. Officials for Co-op Bank, Aldermore, OneSavings Bank, Paragon and Shawbrook declined to comment. Co-op Bank had an equity value of close to 1.3 billion pounds ($1.61 billion) as of the end of December, based on its latest annual accounts. It had more than 28 billion pounds of assets on its balance sheet and reported a profit before tax of 132.6 million pounds for 2022. Later that year, Co-op Bank made an offer for domestic rival TSB Group, which was rejected by Spanish parent Banco Sabadell (SABE.MC).

☆ From swimming pools to gardening, the rich's privileged lifestyles are driving urban water crises, study says
▼ + stars: | 2023-04-13 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

Published in the Nature Sustainability journal this week, the peer-reviewed research looked at the South African city of Cape Town, which has experienced severe drought in recent years. For the study, researchers split Cape Town's urban population into five social groupings and then modeled water consumption. "Informal dwellers and lower-income households constitute together 61.5% of Cape Town's population but consume a mere 27.3% of the city's water." "Specifically, privileged water consumption is unsustainable because in the short term, it disproportionally uses the water available for the entire urban population." Longer term, the report described what it called privileged consumption as constituting an environmental threat to the status of local water sources.

☆ Inside the Online Market for Overseas Abortion Pills
▼ + stars: | 2023-04-13 | by ( Allison Mccann | ) www.nytimes.com time to read: +17 min

A selection of abortion pill kits available online from overseas sellers. A chart of the estimated number of abortion pills provided outside the U.S. health care system from July through December 2022. For most patients, the cost of the service remains the most important factor in deciding where to get pills online. A chart showing the minimum, average and maximum cost of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers. A chart showing the minimum, average and maximum delivery speeds of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers.

☆ Credit Suisse, SEC letters show months-long reporting errors debate
▼ + stars: | 2023-04-11 | by ( Chris Prentice | ) www.reuters.com time to read: +2 min

NEW YORK, April 11 (Reuters) - Credit Suisse and the U.S. Securities and Exchange Commission (SEC) engaged in a months-long debate over the severity of reporting deficiencies that led the Swiss bank to delay its annual report last month. Credit Suisse (CSGN.S) said in March it had postponed the annual filing after a "late call" with the regulator which raised questions about earlier financial statements. Correspondence published in the SEC's online database on Tuesday show that agency staff first raised questions with Credit Suisse officials in July 2022.Credit Suisse and the SEC declined to comment. The last-minute delay concerned analysts and sent Credit Suisse shares to near an all-time low. In the March 10 letter to Joshi, SEC staff acknowledged discussions with the bank on March 8-10.

☆ Ancient humans were getting high on hallucinogenic drugs during cave rituals 3,000 years ago, study claims
▼ + stars: | 2023-04-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Scientists have discovered the use of hallucinogenic drugs by humans 3,000 years ago. They believe shamans used drugs as part of rituals held at the Es Càrritx cave in Menorca. The cave was first occupied around 3,600 years ago, and was used as a funeral space until around 2,800 years ago, the researchers said. The study, published the journal Scientific Reports, found psychoactive substances atropine, scopolamine and ephedrine on hair strands, which had been dyed red. The scientists believe the substances, likely derived from various plants, were used as part of rituals held at the cave.

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