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The hectic pace of activity comes after private credit funds targeting Asia jumped 76% last year to a record $11.2 billion, driven by both regional and India-dedicated strategies, according to Global Private Capital Association. As large global sponsors continue to invest into multi-billion dollar Asia-focused credit funds such as Apollo, Blackstone and KKR, the Asian private credit industry is set for further boom, Robert Wright, partner in law firm Baker McKenzie, said. The string of new private credit funds come against the backdrop of startups facing the threat of having down rounds. Nevertheless, alternative financing such as private credit does not come cheap, industry experts warned. Private credit firms usually arrange loans, with assets secured, on a floating rate basis.
Persons: GPCA, Singapore's SeaTown, Europe's 21yield, Nicholas Mairone, Robert Wright, Baker McKenzie, SeaTown, Rakshat Kapoor, Camille Krejci, Parthiv Rishi, Sidley Austin, Siew Kam Boon, Yantoultra Ngui, Sumeet Chatterjee Organizations: Asia, SINGAPORE, Global Private Capital Association . Industry, Silicon Valley Bank, Blackstone, KKR, Reuters Graphics, Bain Capital, India's, Mahindra Bank, Hong Kong's ADM, SoftBank Investment Advisers, Reuters, Prosus NV, Thomson Locations: Asia, India, Singapore, United States, North America, Silicon, Pacific, Japan, Hong Kong
Whether it's misinformation on Facebook, privacy concerns at TikTok, or the perpetual cloud of controversy hovering over Elon Musk's Twitter, social media has an image problem. "Because of the hot mess that is legacy social media, I believe there's a real opportunity for disruption," Weiss said. That's what led him to found Roar Social, a social media startup based on the idea that "humans are hardwired for altruism." So I want the right users and to get the right users, you need to be a little patient." "Nothing is stopping McDonald's from selling filet mignon," he said, "they could do it well, they could do it cheaply, but no one's really gonna gonna go to McDonald's to buy the filet mignon.
Persons: Robert Weiss, Weiss, Melinda Gates, There's, it's, filet mignon, mignon, I'm, Bluesky, Jack Dorsey, he'll Organizations: Elon Musk's Twitter, Roar, MTV, Melinda Gates Foundation, Elon, Twitter Locations: TikTok
The Kakhovka dam was already damaged days before it collapsed on Tuesday, per the BBC and CNN. The BBC published two images of the roadway that show the bridge's deteriorating condition between Thursday and Friday. Both outlets reported that it's unclear if the damage to the roadway affected the eventual breach of the Kakhovka dam. The Kakhovka dam is also vital to the water supply of Crimea, which was annexed in 2014. Ukrainian UN ambassador Sergiy Kyslytsya said it was "physically impossible" to destroy the Kakhovka dam from the outside.
Persons: , It's, Sergiy Kyslytsya, United States Robert Wood Organizations: BBC, CNN, Service, Kyiv, Washington Locations: Ukraine, Russia, Dnipro, Kherson, Crimea, Moscow, Ukrainian, United States
Russia's top diplomat on Tuesday blamed the US for the breach in the Kakhovka dam. He said Ukraine used US-supplied HIMARS to attack the dam, citing a media report from December. At a UN security council meeting, Nebenzya said earlier media reports recorded Ukrainian forces attacking the dam with HIMARS in December. The Post reported that Kovalchuk conducted a test strike with a HIMARS launcher targeting a floodgate at the Kakhovka dam. On Kyiv's part, Ukrainian UN ambassador Sergiy Kyslytsya said it was "physically impossible" to destroy the Kakhovka dam from the outside.
Persons: , Vasily Nebenzya, Nebenzya, Andriy Kovalchuk, Kovalchuk, Sergiy Kyslytsya, Kyslytsya, it's, Robert Wood, Wood, Martin Griffiths Organizations: Kyiv, Service, United Nations, West, Washington Post, Post, Security, UN Locations: Dnipro, Ukraine, Russian, Russia, HIMARS, Ukrainian, Kakhovka, Crimea
[1/3] A satellite image shows a close-up view of Nova Kakhovka dam and hydroelectric power facility, Ukraine, in this picture obtained by Reuters on June 6, 2023. Ukraine and Russia blame each other for the collapse of the massive dam on Tuesday, which sent floodwaters across a swathe of the war zone and forced thousands to flee. Ukraine said Russia committed a deliberate war crime in blowing up the Soviet-era Nova Kakhovka dam, which powered a hydroelectric station. Residents in flooded Nova Kakhovka on the Russian-controlled bank of the Dnipro told Reuters that some had decided to stay despite being ordered out. It's very dirty," Yevheniya, a woman in Nova Kakhovka , said by telephone.
Persons: Martin Griffiths, John Kirby, Robert Wood, Volodymyr Zelenskiy, Cynthia Osterman, Michael Perry Organizations: Reuters, Maxar Technologies, UN, United Nations, Kremlin, Security Council, Dnipro, U.S, Criminal Court, Kyiv, Thomson Locations: Kakhovka, Ukraine, Russia, UN KHERSON, Ukrainian, Dnipro, Moscow, Kherson, slog, Nova Kakhovka, Russian, Washington, Geneva, Crimean
UNITED NATIONS, June 6 (Reuters) - The United States said on Tuesday it was "not certain" who was to blame for a burst dam in Ukraine, but it would not make sense for Ukraine to have done this to its own people and territory, as Kyiv and Moscow blamed each other for the disaster. The 15-member U.N. Security Council met on Tuesday at the request of both Russia and Ukraine after a torrent of water burst through a massive dam on the Dnipro River that separates the opposing forces in southern Ukraine. U.N. Secretary-General Antonio Guterres said earlier on Tuesday that the world body did not have any independent information on how the dam burst, but described it as "another devastating consequence of the Russian invasion of Ukraine." Many Security Council members also asserted during Tuesday's meeting that the crisis would not have occurred if Russia had not invaded neighboring Ukraine in February last year. U.N. aid chief Martin Griffiths told the Security Council that "the sheer magnitude of the catastrophe will only become fully realized in the coming days."
Persons: U.N, Robert Wood, Wood, Antonio Guterres, Russia's U.N, Vassily Nebenzia, Nebenzia, Ukraine's U.N, Sergiy Kyslytsya, Kyslytsya, Martin Griffiths, Michelle Nichols, Ismail Shakil, Jamie Freed Organizations: UNITED NATIONS, United, Security, U.S, United Nations, Security Council, Thomson Locations: United States, Ukraine, Kyiv, Moscow, Russia, Dnipro, United, Russian
UN Security Council urges Sudan factions to cease hostilities
  + stars: | 2023-06-02 | by ( ) www.reuters.com   time to read: +1 min
[1/2] A screen grab shows black smoke and fire at Omdurman market in Omdurman, Sudan, May 15, 2023. VIDEO OBTAINED BY REUTERS/Handout via REUTERSJune 2 (Reuters) - The U.N. Security Council on Friday called on warring factions in Sudan to cease hostilities, as fighting continued in the capital Khartoum after the collapse of talks to maintain a ceasefire and ease a humanitarian crisis. The council "emphasized the need for the parties to immediately cease hostilities, facilitate humanitarian access and establish a permanent ceasefire arrangement and to resume the process towards reaching a lasting, inclusive, and democratic political settlement in Sudan," the statement said. The council also agreed to extend the mandate of the United Nations Integrated Transition Assistance Mission in Sudan, but only for six months, the statement said. Reporting by Simon Lewis; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.
Persons: Robert Wood, Simon Lewis, Grant McCool Organizations: REUTERS, Handout, . Security, UN, United Nations, Thomson Locations: Omdurman, Sudan, Khartoum, New York
Robert confronted Winenger with the allegations that November, and within weeks Winenger denied the claims in family court. In a family court hearing in Vista, California, on October 28, 2021, Commissioner Patti Ratekin chastised Jill Montes for allegedly alienating her kids from her ex-husband. From a list provided by the Delaware Family Court, Kelly chose a psychologist, William Northey. Their father cited the report in asking a Delaware family court judge to order the boys to change schools. Family Court of the State of Delaware, New Castle CountyCiting the email and a subsequent report, Michael pressed Ostroski to order the transfer.
Persons: he'd, Robert, stepdad, Thomas Winenger, Winenger, Robert's, Jill Montes, Montes, Patti Ratekin, she'd, Ratekin, Richard Gardner, Gardner, Lynn Steinberg, she's, Maya, shrieks, Joan Meier, They'd, , Meier, Tom Brenner, Paige, Maggie Shannon, Claire, Eden, Weeks, Hester Prynne, Mitra Sarkhosh, Sarkhosh, San Diego Robert, Tom Winenger, Tamatha Clemens, Miguel Alvarez, Alvarez, overreact, Alvarez didn't, Bridges, Janell Ostroski, Linda Gottlieb, Ostroski, Michael D, Ashton, Alfield Reeves, Michael, Kelly D, Kelly, who've, Randy Rand, Chris, Rand, he's, Rand isn't, Jane Shatz of, Joann Murphey, Murphey, Steinberg, Ally Toyos, Kit R, Toyos, Emily, Richard Warshak, Elizabeth Loftus, Harvey Weinstein's, Loftus, Hannah Rodriguez, Linda Gottlieb's, Gottlieb, Rodriguez, Yvonne Parnell, Brian Ludmer, Ludmer, Parnell, aren't, Daniel Barrozo, Mom, Jean Mercer, Mercer, who'd, Michael Saini, Saini, Hannah Yoon, — Ashton, Judge Ostroski, William Northey, Northey, O, Addie Asay, mistreating Ashton, Rachel Brandenburg, Brandenburg, I've, Michael's, Gardner's, Gardner dosed, Dr, Paul Fink, Fink, Warshak, William Bernet, Patrick Clancy, doesn't, She'd, Brian Fitzpatrick, Sen, Susan Rubio, Meier's, Rebecca Connolly, didn't, Connolly, Heidi Simonson, Rubio, Theresa Manzella Organizations: Investigations, San, Business, Child Welfare, of, American Psychiatric Association, World Health Organization, American Professional Society, George Washington University, Violence Law, George Washington University Law School, Columbia University, PAS, Sarkhosh, San Diego County Sheriff's Department, California Health, Welfare Agency, Psychology, Bridges, Texas, Roane, Stockton University, University of Toronto, Families, Delaware Family Court, Family, Delaware Family, Association of Family, Conciliation, Newsday, University of Texas Southwestern Medical Center, HarperCollins, Family Bridges, Vanderbilt University, Disorders, The Justice Department, WHO, of Social Welfare, Family Law, Winenger, Montes, Superior Locations: San Diego County, Vista , California, of California, Family Bridges, United States, Santa Cruz , California, Sacramento, Los Angeles, San Diego, toddlerhood, Ratekin, San, California, Eden, New Castle County , Delaware, New York, Ashton, Delaware, Jane Shatz of California, Seattle, Southern California, Texas, Kansas, Toyos, Bozeman , Montana, Family, Tampa , Florida, New, Hudson Valley, Chino , California, Wilmington , Delaware, of Delaware, New Castle County, Denver, Washington, Pennsylvania, Susan Rubio of Los Angeles County, statehouses, Watsonville , California, Santa Cruz, Michigan , Kansas, Utah, Colorado, Montana
The final two ships are due to leave Ukrainian ports on Tuesday under the Black Sea deal, said a U.N. spokesperson. "The (Black Sea) Initiative refers to the export of ammonia, but this has not yet been realized," Griffiths said. "While Russia keeps Ukrainian grain supplies from feeding the hungry, Russia is successfully exporting its own bumper crop of grain," Deputy U.S. 'CRUCIAL'Nebenzia again complained that not enough poor countries were benefiting from the Black Sea grain deal. Russian President Vladimir Putin has offered to deliver Russian grain and fertilizers free of charge to African countries.
But with private housing rents in Singapore maintaining the scorching pace of gains in 2023, those steps are likely falling short, forcing expatriate workers to even consider leaving the city for good. An exodus of foreign talent due to unaffordable housing costs would be a setback to Singapore in fulfilling its ambitions of becoming a technological and innovations hub. EXPAT WOESRecruitment companies said most expats in Singapore do not get housing allowances as companies are controlling their costs amid an uncertain global economy. That is cold comfort for Briton Natalie, who has been living in Singapore for 15 years and is facing a S$3,200 increment in monthly rent. ($1 = 1.3274 Singapore dollars)Reporting by Chen Lin in Singapore; Editing by Xinghui Kok and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
(Reuters) - A group of at least eight partners has left law firm Lewis Brisbois Bisgaard & Smith, including national labor and employment chair John Barber, to start a new firm. Barber and seven other labor and employment lawyers based in California have left Lewis Brisbois, a firm spokesperson confirmed Monday. Lewis Brisbois co-chairman Bob Smith said in the Sunday statement the firm thanks the lawyers and wishes them well. Lewis Brisbois in February hired a new cybersecurity group, poaching six attorneys from Wilson Elser Moskowitz Edelman & Dicker including co-chair Robert Walker. Read more:44-member Lewis Brisbois cybersecurity team jumps to Constangy firmLaw firm Lewis Brisbois hires cybersecurity co-chair after group departureOur Standards: The Thomson Reuters Trust Principles.
April 26 (Reuters) - Former U.S. President Donald Trump has lost an appeal to block former Vice President Mike Pence from testifying in the special counsel probe into efforts to overturn the results of the 2020 presidential election, CNN reported on Wednesday. Earlier this month, Trump lawyers filed the appeal after a ruling related to the Justice Department investigation of efforts to undermine the election that Trump, a Republican, lost to Democrat Joe Biden. However, Pence disclosed that he would not appeal a judge's ruling that requires him to testify to a federal grand jury about conversations he had with Trump leading up to the deadly attack on the U.S. Capitol on Jan. 6, 2021. A representative for Trump did not immediately respond to a Reuters request for comment. Reporting by Sheena K Thomas in Bengaluru; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.
Russian oligarch Viktor Vekselberg was blacklisted by the U.S. in 2018. Photo: Sergei Bobylev/Zuma PressA New York lawyer has pleaded guilty to criminal charges stemming from payments he made for Russian oligarch Viktor Vekselberg , the latest in a crackdown on the white-collar professionals who federal prosecutors say are key enablers of the Kremlin’s sanctions-evasion efforts. The lawyer, Robert Wise , helped Mr. Vekselberg make about $3.8 million in payments to maintain six properties in New York and Florida owned by the Russian billionaire, prosecutors say. The Pelham, N.Y., resident pleaded guilty in Manhattan federal court Tuesday to one count of conspiring to commit international money laundering and agreed to pay $210,000.
If there wasn't enough banking jargon to blind you, it's time to learn a new piece of it: Welcome to the industry's era of the "criticized loan." "Criticized loans could be paying or performing but a loan could be singled out because of its collateral." At Bank of America, criticized loans to office building projects rose to $3.7 billion out of $19 billion in office loans. But office buildings represent only a quarter of the bank's commercial real estate loans, and all CRE is just 7% of the bank's total loans and leases. "It's almost impossible for us to see office [losses] more than 4 or 5 percent of office loans.
Analysis: Why is UK inflation so high?
  + stars: | 2023-04-19 | by ( Andy Bruce | ) www.reuters.com   time to read: +4 min
Annual consumer price inflation (CPI) in Britain fell to 10.1% last month but defied forecasts for a bigger drop from February's 10.4%, according to data published on Wednesday. "Inflation in the UK has risen further and stayed higher than elsewhere as the UK has experienced the worst of both worlds: a big energy shock like the euro zone and labour shortages - even worse than the U.S.," said Ruth Gregory, deputy chief UK economist at consultancy Capital Economics. British consumer energy prices were 79% higher in March than their level two years earlier, the biggest increase in western Europe. Britain's high rate of energy inflation reflects its heavy reliance on gas for power generation and home heating as well as the poor energy efficiency of its housing stock. But domestically generated price pressures are likely to slow the pace of decline in headline inflation.
SummarySummary Companies First-quarter gross profit down 2.4% at 262.7 mln poundsQuarterly gross profit in U.S. market declines 15%Sees FY operating profit of 140 mln poundsApril 17 (Reuters) - PageGroup (PAGE.L) on Monday became the latest recruiter to warn of tough conditions in the labour market as it forecast a near 29% slump in 2023 profit, partly hit by weakness in the technology and banking sectors in the United States. PageGroup along with peers Hays and Robert Walters have flagged weakness in the permanent hiring market because employers were turning to interim hires to ride out market uncertainty amid a tough economic outlook. PageGroup's gross profit in permanent recruitment fell 7.2% in the first quarter on constant currency terms, while temporary jobs jumped about 15%. It now expects annual operating profit to be in line with a company-compiled consensus of 140 million pounds ($173.9 million), way below the 196.1 million pounds it reported for fiscal year 2022. The FTSE midcap (.FTMC) firm also posted a 2.4% decline in gross profit at 262.7 million pounds for the three months to March 31.
Small businesses that invest in local advertising can connect and engage with their communities. Local advertising is a way small businesses can support and partner with other businesses. Companies can help other small businessesAppearing in local media outlets that have been around for generations and are known and trusted in the community can elevate local businesses, Walker-Smith said. He also said that many local media outlets are also small businesses themselves, so advertising is a way of supporting the business community. Even if small businesses think local advertising is too expensive, Walker-Smith urged company owners to contact local media organizations about what options are available.
London's FTSE 100 climbs ahead of Easter break
  + stars: | 2023-04-06 | by ( Sruthi Shankar | ) www.reuters.com   time to read: +2 min
The FTSE 100 (.FTSE) rose 0.5% and is on course to end the holiday-shortened week about 1% higher, with gains in oil & gas and healthcare stocks offering support. Shell (SHEL.L) rose 1.7% as the energy giant forecast higher liquefied natural gas (LNG) output in the first quarter. The midcap FTSE 250 index (.FTMC) rose 0.2%, with London-listed shares of travel firm TUI jumping 7.2% after sharp losses this week. "The report noted mortgage rates have continued to trend downwards, housing transactions have picked up slightly and the employment market remains robust. We still see challenges ahead as affordability remains under pressure," said Derren Nathan, head of equity research at Hargreaves Lansdown.
[1/4] Israeli policemen stand next to smoke from a fire following incoming rockets from Lebanon to Israel in Bezet, northern Israel, April 6, 2023. The Israeli military said 34 rockets were launched from Lebanon, of which 25 were intercepted by Israel's Iron Dome, anti-missile system. There was no claim of responsibility but an Israeli military official also said that Israel was working on the assumption that the attack was Palestinian-linked. "It's not Hezbollah shooting, but it's hard to believe that Hezbollah didn't know about it," Tamir Hayman, a former head of Israeli military intelligence said on Twitter. In response, Israel has hit targets in Gaza linked to Hamas, which it holds responsible for any attacks from the blockaded coastal strip.
US FDA approves first OTC opioid overdose reversal drug
  + stars: | 2023-03-29 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A box of NARCAN nasal spray is photographed at an outpatient treatment center in Indiana, Pennsylvania, U.S. on August 9, 2017. The approval for OTC use of the naloxone-based nasal spray will help align the federal government's stance with states that have provisions to offer the drug without prescription at pharmacies. Drug-related overdose deaths in the United States rose about 15% year-over-year to more than 100,000 in 2021, as per official data. While the approval puts Emergent ahead in the OTC product race, analysts have said it is not likely to derive significant sales from the approval. Benchmark analyst Robert Wasserman said ahead of the approval that Narcan sales peaked in 2020 and have declined since.
Russia fails at UN to get Nord Stream blast inquiry
  + stars: | 2023-03-27 | by ( Michelle Nichols | ) www.reuters.com   time to read: +2 min
UNITED NATIONS, March 27 (Reuters) - Russia failed on Monday to get the U.N. Security Council to ask for an independent inquiry into explosions in September on the Nord Stream gas pipelines connecting Russia and Germany that spewed gas into the Baltic Sea. A resolution needs at least nine votes in favor and no vetoes by Russia, China, France, the United States or Britain to pass. They said in a joint letter to the Security Council that the damage was caused by "powerful explosions due to sabotage." The United States and the North Atlantic Treaty Organization have also called the incident "an act of sabotage." Russia has complained that it has not been kept informed about the ongoing national investigations.
SpaceX had to file suit before winning its first defense orders from the Pentagon. The Pentagon is seeking to enlist Silicon Valley startups in its effort to fund and develop new weapons technology and more-nimble suppliers, as the U.S. races to keep pace with China’s military advances. The push to tap private capital comes in the midst of concern that U.S. defense-industry consolidation has led to dependence on a few large companies that rely on government funding for research and is hampering innovation. Meanwhile, China has pulled ahead in some key technologies, ranging from small drones to hypersonic missiles, helped by Beijing’s use of external public-private guidance funds, according to current and former Pentagon officials.
$7 billion unicorn Carta is officially retreating from its equity management software for public companies, according to multiple sources Insider has spoken to. Thousands of private companies use the platform to track company and employee ownership, process venture investments, and administer employee stock programs, among a slew of other services. Carta had seen the company through its 2017 public listing on the London Stock Exchange, helping its employees and shareholders navigate the complex world of public stock markets. Transfer agents are regulated entities that all public companies are required to use to track stock ownership. "I guess getting into the public markets is something that they sort of dipped their toe in and now want to withdraw," he said.
[1/5] People hold up special edition newspapers, reporting Japan's victory at the World Baseball Classic final, as others queue to try to get them, in Tokyo, Japan, March 22, 2023. REUTERS/Kato IsseiTOKYO, March 22 (Reuters) - With cherry blossoms reaching full bloom in Tokyo, Japanese sports fans erupted in jubilation on Wednesday after their countrymen defeated Team USA to win the World Baseball Classic (WBC). "Nihon yusho," or "Japan victory," was the No. Japan pitchers set a WBC record for strikeouts throughout the series, according to Fox Sports. With sublime serendipity, Japan's victory comes as Tokyo cherry blossoms reached their zenith, bathing the city's parks and streets in pink and white.
Watch CNBC's full interview with Baird's David George
  + stars: | 2023-03-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Baird's David GeorgeDavid George, senior bank analyst at Robert W. Baird, joins ‘Closing Bell’ to discuss why the company upgraded its rating on U.S. Bancorp and more.
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