This is amazing
This is amazing
Umpire Joe West was awarded $500,000 plus interest Monday by the New York Supreme Court in his defamation lawsuit against former player Paul Lo Duca.
(Bloomberg) -- U.S. regulators are throwing another wrench into Wall Street’s SPAC machine by cracking down on how accounting rules apply to a key element of blank-check companies.The Securities and Exchange Commission is setting forth new guidance that warrants, which are issued to early investors in the deals, might not be considered equity instruments and may instead be liabilities for accounting purposes. The move, reported earlier by Bloomberg News, threatens to disrupt filings for new special-purpose acquisition companies until the issue is resolved.The accounting considerations mark the latest effort by the SEC to clamp down on the white-hot SPAC market. For months, the regulator has been raising red flags that investors aren’t being fully informed of potential risks associated with blank-check companies, which list on public stock exchanges to raise money for the purpose of buying other entities.The SEC began reaching out to accountants last week with the guidance on warrants, according to people familiar with the matter. A pipeline of hundreds of filings for new SPACs could be affected, said the people, who asked not to be named because the conversations were private.“The SEC indicated that they will not declare any registration statements effective unless the warrant issue is addressed,” according to a client note sent by accounting firm Marcum that was reviewed by Bloomberg.In a SPAC, early investors buy units, which typically includes a share of common stock and a fraction of a warrant to purchase more stock at a later date. They’re considered a sweetener for backers and have thus far been considered equity instruments for accounting purposes. Sponsor teams -- the management of a SPAC -- are also typically given warrants as part of their reward to find a deal, on top of the founder shares.In a statement late Monday, SEC officials urged those involved in SPACs to pay attention to the accounting implications of their transactions. They said that a recent analysis of the market had shown a fact pattern in transactions in which “warrants should be classified as a liability measured at fair value, with changes in fair value each period reported in earnings.”“The evaluation of the accounting for contracts in an entity’s own equity, such as warrants issued by a SPAC, requires careful consideration of the specific facts and circumstances for each entity and each contract,” the officials said in the statement.The SEC issued its guidance after a firm asked the agency how certain accounting rules applied to SPACs, according to another person familiar with the matter. It’s unclear how many companies will be impacted by the move and not all warrants will be affected. Still, regulators consider it likely to be a widespread issue. Firms will be expected to review their statements and correct any material errors, said the person.The shift would spell a massive nuisance for accountants and lawyers, who are hired to ensure blank-check companies are in compliance with the agency. SPACs that are already public and that have struck mergers with targets may have to restate their financial results, the people familiar with the matter said.More than 550 SPACs have filed to go public on U.S. exchanges in the year to date, seeking to raise a combined $162 billion, according to data compiled by Bloomberg. That exceeds the total for all of 2020, during which SPACs raised more than every prior year combined.The deluge has overwhelmed those responsible for reviewing filings at the SEC, triggered a surge in liability insurance rates for blank-check companies and fueled market anxieties that the bubble is about to burst.(Updates with SEC guidance starting in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Gregg Popovich did not hold back on Monday night, and called out everyone from Texas Gov. Greg Abbott to former President Donald Trump.
Fox Corp. is standing behind Tucker Carlson after the Anti-Defamation League last week called for the company to fire the opinion host for his on-air defense of the white-supremacist “great replacement” theory.
Petróleo Brasileiro S.A. – Petrobras ("Petrobras") (NYSE: PBR) today announced the final results and settlement of the previously announced cash tender offers by its wholly-owned subsidiary, Petrobras Global Finance B.V. ("PGF"), with respect to any and all of PGF's outstanding notes of the series set forth in the table below (the "Notes" and such offers, the "Offers").
Almonty Industries Inc. ("Almonty" or the "Company") (TSX: AII / OTCQX: ALMTF / Frankfurt: ALI.F) wishes to provide a bi-weekly status update further to the management cease trade order ("MCTO") issued by the Ontario Securities Commission dated April 1, 2021 in respect of the Company’s securities under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203"). The MCTO only prohibits the Chief Executive Officer and the Chief Financial Officer of the Company from trading in or purchasing the securities of the Company until two full business days after all filings are brought up to date. The Company also has imposed a blackout on trading by all other directors, officers and insiders. The MCTO does not affect the ability of investors who are not insiders to trade in the securities of the Company.
Former U.N. Ambassador Nikki Haley said Monday that she would support former President Trump if he ran for office again in 2024, and that she would not run for the president if he did, the AP reports.Why it matters: Haley is widely expected to seek the GOP presidential nomination in 2024.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeFlashback: “He’s not going to run for federal office again,” Haley told Politico in an extensive profile in mid-February, referring to Trump. “I don’t think he can. He’s fallen so far.”What she's saying: “I would not run if President Trump ran, and I would talk to him about it,” Haley said, when asked by an AP reporter if a potential Trump bid would preclude her own run. “That’s something that we’ll have a conversation about at some point, if that decision is something that has to be made.”She said the last time she spoke to Trump was after the presidential election, but before the Jan. 6 Capitol attack. More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
Japan plans to release into the sea more than 1 million tonnes of contaminated water from the destroyed Fukushima nuclear station, the government said on Tuesday, a decision that is likely to anger neighbours such as South Korea. The move, more than a decade after the nuclear disaster, will deal another blow to the fishing industry in Fukushima, which has opposed such a step for years. The work to release the water will begin in about two years, the government said, and the whole process is expected to take decades.
Tulsa has hired Arizona State assistant Angie Nelp to coach its women’s basketball team. Nelp spent four years on the Arizona State staff and was promoted to associate head coach last April. This past season, Arizona State played in the WNIT.
"My prayers are with the family" of Daunte Wright, the president told reporters in the Oval Office on Monday. "It’s really a tragic thing that happened."
The owner is offering a reward of $1,375 for its return
Daunte Wright, 20, was killed during a traffic stop, sparking tense protests near Minneapolis.
Japan's government said Tuesday it has decided to start releasing massive amounts of radioactive water stored in tanks at the wrecked Fukushima nuclear plant in two years after treatment. The water has been accumulated and stored in tanks at the Fukushima Daiichi nuclear power plant since its 2011 meltdown after a massive earthquake and tsunami, causing cooling water to leak from the damaged reactors.
Update: The Met Gala is officially returning this year! On Monday, Vogue announced the Costume Institute's plans for not one but two major exhibitions, along with a "slightly smaller celebration" pending government guidelines later this year on Sept.
Stefan Matteau (Columbus Blue Jackets) with a Goal vs. Chicago Blackhawks, 04/12/2021
It's usually little more than a coronation, but the race to lead the German center-right into September's election just got interesting.Driving the news: Markus Söder, the prime minister of Bavaria, announced Sunday that he would be challenging Armin Laschet, who was only recently elected as the leader of the Christian Democratic Union (CDU) and thus Angela Merkel's de facto heir apparent.Get market news worthy of your time with Axios Markets. Subscribe for free.As CDU leader, Laschet is the conventional choice to run for chancellor. A centrist in the Merkel mold, he would effectively be a continuity candidate.But Söder, the leader of the CDU's much smaller Bavarian sister party, is far more popular. With the CDU falling in the polls, his star has been rising.Söder said he'd talked the thing over with Laschet before jumping into the contest, and "we came to the conclusion that both of us are suitable and both are ready.”The state of play: It's not yet clear when the party will formally pick its candidate, but the CDU's top brass is already rallying behind Laschet, in an indication that he remains the favorite.The CDU's recent stumbles have led to a real prospect that when Merkel steps down after 16 years, she will be replaced by a chancellor from a different party.More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
Teenagers from across the US are coming together to discuss their vastly differing backgrounds.
Parents have the option of keeping their kids at home for remote learning, which has been difficult for many students.
Iranian Foreign Minister Mohammad Javad Zarif has threatened retaliation against "any power with knowledge" of Sunday's attack on an Iranian nuclear site, and said Iran would now accelerate its violations of the 2015 nuclear deal until the U.S. lifts sanctions.Why it matters: The apparent act of Israeli nuclear sabotage, which caused a blackout at the underground Natanz enrichment facility and may have caused significant damage, comes as the U.S. attempts to revive the nuclear deal.Get market news worthy of your time with Axios Markets. Subscribe for free.If the Iranians do take additional steps beyond the boundaries of the deal, it could force the U.S. to move more quickly to salvage the agreement, or possibly to walk away from the table.What they're saying: White House press secretary Jen Psaki said the Biden administration "was not involved in any manner" in Sunday's attack, but she wouldn't say whether it might hamper the ongoing nuclear diplomacy.Psaki did say the U.S. still expects Iran to take part in this week's indirect nuclear talks in Vienna, which are set to resume on Wednesday.Before that happens, top national security officials from the U.S. and Israel will convene virtually tomorrow for a second round of high-level strategic talks on Iran, Axios' Barak Ravid reports.Led by national security adviser Jake Sullivan and his Israeli counterpart, Meir Ben-Shabbat, top national security and intelligence officials first met last month to share intelligence on Iran's nuclear program.Between the lines: One of the main understandings that emerged was a mutual "no surprises" policy. But it's unclear whether the Natanz explosion or Israel's recent strikes on Iranian ships came as a surprise to the White House.The Biden administration has distanced itself from both, creating the impression it disapproves of Israel's actions.The other side: Prime Minister Benjamin Netanyahu has been increasingly vocal about his concerns around the nuclear talks.He recently said that Israel would not be bound by any U.S.-Iran deal, hinting that the Vienna talks will not prevent Israel from continuing its operations against Iran.Meanwhile, Zarif wrote UN Secretary-General António Guterres tonight, contending that a "grave war crime" had been committed at Natanz.Zarif accused Israel of attempting to use the attack to thwart the nuclear talks, according to state media. He said those efforts would fail, and "we will take revenge on the Zionists themselves.”The state of play: The Vienna talks are the most significant step yet toward a joint return to the nuclear deal. But while last week's talks "met expectations," a senior State Department official on Friday cast doubt on Iran's "seriousness of purpose."Iran refused to meet directly with the U.S. but held three days of talks with the nuclear deal's other signatories, while the U.S. communicated through EU representatives."We think it would be better if we could sit down with the Iranians. We’re not going to pay a price for that, so if they don’t want to meet with us, too bad," the senior official said.What to watch: There are at least two major hurdles from the U.S. perspective: Iran is insisting that the U.S. lift all of its sanctions before Iran unwinds its nuclear violations, and it's including even sanctions that aren't linked to the nuclear program.The talks will be “heading toward an impasse” if Iran's position remains unchanged, the official said on Friday.More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
If can be challenging to keep up with the coolest new music your kids are listening to, but if your little ones are big Disney fans, we're here to help you with a specially curated list of the best Disney hits from both classic films and newer favorites. From hit TV movies like Descendants and Zombies to Soul and the live-action Mulan, there's a little something here for every Disney kid in your house.