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Lawyers for Celsius investors file motion to have interests represented in court
An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case. In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested the appointment of an “Official Preferred Equity Committee” to represent certain Celsius shareholders. According to the filing, the equity holders “urgently require their own fiduciary” for representation in court alongside Celsius debtors and an Unsecured Creditors Committee, or UCC. “The need for a fiduciary to pursue the Equity Holders’ interests is particularly critical when one considers the practical realities of these cases: There are only two groups of real ...
Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake
Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain. According to a securities filing made with the Securities and Exchange Commission on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases disclosed by Bankman-Fried reportedly began in mid-March and continued through until Wednesday. In the securities filing, Bankman-Fried made it clear that he had, “no intention of taking any action toward changing or influenc...
Crypto-related stocks jump in positive reaction to executive order
The stock prices of crypto-related companies have jumped as the broader market reacted positively to President Joe Biden’s long-awaited executive order requiring US federal agencies to create a regulatory framework for digital assets, as well as exploring a future digital dollar. Coinbase (COIN) surged, up 10.5% at market close, while shares in Bitcoin-evangelist Michael Saylor’s MicroStrategy (MSTR) posted a 6.4% gain, according to TradingView. Blockchain-related exchanged-traded funds (ETFs) also enjoyed the markets’ renewed confidence in crypto, with ProShares Bitcoin Strategy ETF (BITO) gaining 10% and Valkyrie Bitcoin Strategy ETF (BTF) closing up 10.3%. Cryptocurrency mining companies enjoyed the largest gains with Riot Blockchain Inc. (RIOT) shares up 11.2% and Marathon Digital Hold...
Haiti police say they have president’s suspected killers, still hunting masterminds
Haiti’s police has killed or apprehended the suspected killers of President Jovenel Moise, officials said on Thursday, and are hunting for the masterminds behind the assassination that stunned the impoverished Caribbean nation. Moise, 53, was shot dead early on Wednesday at his home by what officials said was a commando of apparently foreign, trained killers, pitching the poorest country in the Americas deeper into turmoil amidst political divisions, hunger, and widespread gang violence. Police Chief Leon Charles said in a televised briefing on Thursday that authorities had tracked down the suspected assassins to a house near the scene of the crime in Petionville, a northern suburb of the capital Port-au-Prince. A fierce firefight lasted late into the night and six suspects were taken in c...
NLC urges National Assembly to transform NNPC to public liability company
The Nigeria Labour Congress has cautioned the National Assembly to handle with utmost care what it described as the very sensitive issue of the unbundling of the Nigeria National Petroleum Corporation. It urged the lawmakers to transform the NNPC to a public liability company as part of the reforms of the oil and gas sector captured in the Petroleum Industry Bill. The NLC President, Ayuba Wabba, said this on Tuesday, in a statement lauding the passage of the PIB titled, ‘Congress commends the national assembly for passing the petroleum industry bill – demands that the NNPC be transformed into a public liability company.’ It stated, “We know that the process of making the PIB a law has not been completely consummated as the passed bill would still need to be harmonized by a conference of th...
PDP tasks federal government on Dangote refinery shares
The Peoples Democratic Party has advised the Federal Government to ensure transparency in its planned acquisition of 20 per cent shares in Dangote refinery. The PDP said this in a statement by its National Publicity Secretary, Kola Ologbondiyan, in Abuja. Ologbondiyan said: “The PDP has nothing against any genuine and honest incentives for private refineries, but we insist that such must not be used as avenues for siphoning funds from national treasury. “The transaction must be made completely open, in terms of conditions for crude barter trade, duration, equity sharing and signatories among other things.” Ologbondiyan urged the National Assembly to take advantage of its oversight power on the Nigerian National Petroleum Corporation to ensure that the deal was transparent. “The PDP insists...
U.K. to open first LGBT+ retirement home as market grows
Britain’s first LGBT+ retirement home is set to open in mid-2021, the housing association behind the London riverside apartments said, highlighting a growing market of older people who do not want to be forced back in the closet. There is a critical need for housing for older LGBT+ people, said Anna Kear, Chief Executive of Tonic Housing, as many say it would be “terrifying” to live in a predominantly straight home where other residents did not accept them. “People say that if they get to that stage, they would rather (die by) suicide than go into a heterosexual care home or sheltered housing environment, which is just awful,” she told the Thomson Reuters Foundation. With an ageing population, the demand for specialist housing for older people is growing, with private retirement units acco...
Ekiti reduces stake in Wema Bank
Ekiti State, one of the shareholders of Wema Bank Plc, has reduced its stake in the bank by 666.670 million from 1.191 billion shares. Ekiti, Oyo, Ogun, and Osun States are shareholders in Wema Bank. While Oyo, Osun, and Ogun held 666.670 million or 1.73 per cent each, Ekiti held 1.191 billion or 3.09 per cent as at December 31, 2019. But in a notification to the Nigerian Stock Exchange (NSE), signed by the Company Secretary of Wema Bank Plc, Johnson Lebile, the bank said Ekiti State Government sold 666.670 million shares at 65 kobo per share on the floors of the NSE, amounting to N433.336 million. According to the bank, the transaction took place between March 3 and 4, 2021. With the transaction, Ekiti State now holds about 524.1 million shares. Neem Tree Limited remains the majority shar...
Traffic in Suez Canal resumes after stranded ship refloated
Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated, the canal authority said. The 400-metre (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting traffic on the shortest shipping route between Europe and Asia. Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the centre of the canal on Monday afternoon. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots. “Admiral Osama Rabie, the Chairman of the Suez Canal Authority (SCA), announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and ...
Suez Canal Authority says stranded ship partially refloated
The stranded container ship that blocked the Suez Canal for nearly a week was almost fully re-floated on Monday and has restarted its engines, a shipping source with knowledge of the matter said, raising hopes the busy waterway will soon be reopened. The 400-metre (430-yard) long Ever Given has been straightened in the canal and will undergo initial inspections before being moved, two sources said. Video posted on social media appeared to show the ship’s stern had swung around, opening space in the canal. Other footage, which could not be immediately verified by Reuters, included cheering and ships’ horns sounding in celebration. Ship-tracking service VesselFinder has changed the ship’s status to under way on its website. The Ever Given became jammed diagonally across a southern section of...
Nokia to cut up to 10,000 jobs worldwide
File Photo Telecoms company Nokia has announced its plan to cut between 5,000 and 10,000 jobs globally in the next two years. It said the move will enable it reduce cost, catch up on 5G, and invest in cloud computing and digital infrastructure research. Nokia said on Tuesday that the restructuring is aimed at boosting its performance against opponents such as Sweden’s Ericsson and China’s Huawei. The company did not indicate regions affected by the measure, but said about 96 jobs in the UK were under threat as part of the €600m (£518m) cost cuts, BBC reported. A Nokia spokesperson was quoted as saying, “We currently expect the consultation process in the UK to cover an estimated 96 roles.” “At this stage, however, these are only estimates. It is too early to comment in detail, as we have o...
Barcelona boss admits that comeback against PSG seems unlikely
After yet another humbling defeat in the Champions League for Barcelona, coach Ronald Koeman does not seem too optimistic about his side’s progression into the next round of the competition. The Dutchman was disappointed in the team’s performance, which seemed to lack a cutting edge all across the pitch. There are plenty of questions about Koeman’s team selection however, and he certainly shares the blame for this defeat. Even so, the Blaugrana were extremely lethargic and did not show anywhere near their best football. In the post-match press conference, the manager summed up their miserable outing and evaluated their chances of progression to the next round. On the result and performance: “The result reflects the game. In the second half, they have been superior. They have been very effe...
