Spirit Ether http://www.spiritether.net/ Fri, 22 Oct 2021 09:54:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://www.spiritether.net/wp-content/uploads/2021/04/cropped-spirit-ether-icon-32x32.png Spirit Ether http://www.spiritether.net/ 32 32 HSI closes at 26,126, up 109 pts; HSTI closes at 6,754, up 118 points; SUNAC Up more than 8%; BYD COMPANY, ZHONGYU GAS have reached new heights; Market turnover increases AASTOCKS Financial news https://www.spiritether.net/hsi-closes-at-26126-up-109-pts-hsti-closes-at-6754-up-118-points-sunac-up-more-than-8-byd-company-zhongyu-gas-have-reached-new-heights-market-turnover-increases-aastocks-financial-news/ https://www.spiritether.net/hsi-closes-at-26126-up-109-pts-hsti-closes-at-6754-up-118-points-sunac-up-more-than-8-byd-company-zhongyu-gas-have-reached-new-heights-market-turnover-increases-aastocks-financial-news/#respond Fri, 22 Oct 2021 08:12:00 +0000 https://www.spiritether.net/hsi-closes-at-26126-up-109-pts-hsti-closes-at-6754-up-118-points-sunac-up-more-than-8-byd-company-zhongyu-gas-have-reached-new-heights-market-turnover-increases-aastocks-financial-news/

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Data breaches in 2021 are already at the top of all last year https://www.spiritether.net/data-breaches-in-2021-are-already-at-the-top-of-all-last-year/ https://www.spiritether.net/data-breaches-in-2021-are-already-at-the-top-of-all-last-year/#respond Thu, 21 Oct 2021 14:25:35 +0000 https://www.spiritether.net/data-breaches-in-2021-are-already-at-the-top-of-all-last-year/

In 2020, US companies were victims of 1,108 data breaches. But at the end of September this year, the 2021 total was 1,291.

The Identity Theft Research Center (ITRC) reports that the 17% increase we have already seen from the total number in 2020 indicates that we could be facing a record year for data breaches. The all-time high was reached in 2017, with 1,529. And the biggest peaks in 2020 occurred from August, which means more are underway.

What is of particular concern, however, is that the number of ITRCs is likely low, although no one knows to what extent. The group notes that many authorities are also increasingly reluctant to discuss data breaches. One state, he says (without identifying it) has not issued any data breach notices since last September.

“There has been an increase in the lack of transparency in notices of violation both at the organizational and government level which, if it persists, could have a significant impact on individuals,” he said. declared. “Withholding important information or failing to post notices in a timely manner can prevent individuals from taking action to protect their identity. “


Identity Theft Resource Center

Not all the news is bad: The number of publicly reported violations in the third quarter was lower than the second quarter total – 446 publicly reported attacks, up from 491 between April and June.

And the total number of victims so far in 2021 is still almost 30 million less than last year, despite the fact that the total of violations is higher.

So far in 2021, nearly 281.5 million people have been affected by some kind of data breach. This is in fact the lowest number in the past seven years, with 2018 having the dubious honor of having the most victims, at 2.2 billion.

That said, the total number of fatalities in Q3 exceeded the total for T1 and T2 combined. Between July and September, there were 160 million victims, against 121 million in the first half.

As for the breaches, there were massive ones. DarkSide’s ransomware attack on Colonial Pipeline saw 100 GB of data stolen and disrupted the oil supply chain for much of the East Coast. Facebook has seen 214 million records violated through an insecure database. Men’s retailer Bonobos had personal information on 7 million shoppers, including 3.5 million partial credit cards, ripped off by hacker group ShinyHunters.

Phishing and ransomware are the two most popular tools for hackers, according to the ITRC.

“While the total number of data breaches declined slightly in the third quarter, we are only 238 data breaches to match the all-time record for data breaches in a single year,” said Eva Velasquez, President and CEO of the Identity Theft Resource Center. “It is also interesting that the 1,111 data breaches due to cyber attacks so far this year exceed the total number of data breaches from all causes in 2020. Everyone should continue to practice good cyber hygiene. to protect himself and his loved ones as these crimes continue to increase.

The increase in ransomware and hacking incidents has put many cybersecurity companies on investor radar. Palo Alto Networks (PANW) reported better than expected earnings in August. And CrowdStrike Holdings (CRWD) was added to the Nasdaq-100 index the same month.

It’s even a big deal for Microsoft. The company recently said that its cybersecurity revenues exceed $ 10 billion per year and that it has some 400,000 customers. And, in July, he bought security threat management firm RiskIQ for $ 500 million.

“Microsoft is clearly presenting itself as offering a complete security suite, a competitive advantage as customers increasingly want a unified view of threats,” UBS analyst Karl Keirstead said in a note.

This is beneficial, because today’s data thieves are much more sophisticated than they were just a few years ago, using automated tools and looking for high-quality data, like IDs and passwords. With these, cybercriminals don’t have to risk a time-consuming backdoor approach, they can just log on and take whatever they want.

“The amount of data is no longer the goal of an attack; the quality of the data is, ”said James Lee, ITRC chief operating officer, in comments prepared for the US Senate Committee on Commerce, Science and Technology earlier this month. “We are moving from an era of identity theft where data is acquired and accumulated to a period of identity fraud where identity thieves monetize the data they have collected – with the occasional effort to update the data. older information. “

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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DentalMonitoring, Leading AI-Based Dental Software Company, Announces Growth Funding of $ 150 Million, Reaching Valuation of Over $ 1 Billion https://www.spiritether.net/dentalmonitoring-leading-ai-based-dental-software-company-announces-growth-funding-of-150-million-reaching-valuation-of-over-1-billion/ https://www.spiritether.net/dentalmonitoring-leading-ai-based-dental-software-company-announces-growth-funding-of-150-million-reaching-valuation-of-over-1-billion/#respond Thu, 21 Oct 2021 09:24:04 +0000 https://www.spiritether.net/dentalmonitoring-leading-ai-based-dental-software-company-announces-growth-funding-of-150-million-reaching-valuation-of-over-1-billion/

Content of the article

PARIS & AUSTIN, Texas – DentalMonitoring became the first dental software company to reach a valuation of over $ 1 billion, announcing growth funding of $ 150 million. The round is led by a new investment of $ 90 million from Mérieux Equity Partners and $ 60 million from Vitruvian Partners, an existing financial investor, demonstrating confidence in the company’s ambitious plans.

Content of the article

Since CEO and co-founder Philippe Salah launched the company in 2014, DentalMonitoring has become the first player to harness AI for remote monitoring in the dental and orthodontic fields. Driven by the attending physician, DentalMonitoring’s AI automates messages and instructions sent to patients and practice staff to synchronize the delivery of care with the need for care. DentalMonitoring is also the first and only company to offer virtual office solutions to all dental professionals to help them streamline and automate their workflow, from the initial virtual consultation, triage and conversion of patients to remote monitoring of all devices and brands. To date, over one million patients in over 50 countries have taken over one billion intraoral images on the DentalMonitoring platform.

“We are proud to be supported by leading international funds,” says Philippe Salah, CEO of DentalMonitoring. “This achievement marks a new step for the company and testifies to the new standard of diligence that our team has brought to the profession. We will continue to provide even more innovative solutions to dental professionals to help them provide better care and evolve their practice. ”

The company plans to use the proceeds to fund its rapid global growth, targeting an increased presence in the United States and expanding into new markets such as China and Japan. DentalMonitoring also plans to almost double the number of employees over the next two years and target relevant acquisitions.

“AI is one of the major technologies for transforming healthcare delivery and improving patient outcomes. The DentalMonitoring team and their disruptive technology have convinced us of their ability to meet the growing demand for remote care capabilities for dental professionals. At Mérieux Equity Partner, we are proud to support healthcare technology talents and look forward to supporting DentalMonitoring in their meteoric growth, leveraging our international network. added Caroline Folleas of Mérieux Equity Partners.

“By enabling remote dental care, DentalMonitoring is the biggest disruptor in the business since intraoral scanners in the 1990s and digital imaging in the 1980s. The company fits perfectly with our investment strategy. consisting in supporting the most successful companies benefiting from strong favorable winds in the market with opportunities for internationalization. Vitruvian renews its confidence to support the growing needs of the company’s ambitious growth plans. says Torsten Winkler of Vitruvian Partners.

Content of the article

Jefferies LLC, a global investment bank with extensive knowledge of the dental and software markets, served as DentalMonitoring’s exclusive placement agent during this investment round.

About DentalMonitoring www.dental-monitoring.com
DentalMonitoring was started with a simple idea: Oral care should be connected and continuous, even outside of the practice. The company created the world’s first virtual practice platform in dentistry, protected by more than 200 patents, to meet rapidly changing patient expectations. Using the industry’s largest database of dental images, DentalMonitoring has developed the most advanced and comprehensive physician-driven AI solutions to help dental professionals deliver superior care and support. better patient experience. From primary patient engagement and conversion, providing treatment options via AI-generated reports and advanced smile simulations, to remote monitoring of all types of treatments, DentalMonitoring’s unique platforms give dental professionals full control over streamlined assessments and communication. DentalMonitoring has more than 400 employees in 18 countries and 9 offices including Paris, Austin, London, Sydney and Hong Kong.

About Mérieux Equity Partners – www.merieux-partners.com
Merieux Equity Partners (“MxEP”) is an AMF-approved management company dedicated to equity investments in the health and nutrition sector. With more than 45 supported companies, MxEP actively supports entrepreneurs and companies whose products and services provide differentiated and innovative solutions by giving them privileged access to its expertise and to the industrial, scientific and commercial network of Institut Mérieux (BioMérieux , Transgene, ABL, Mérieux Nutrisciences); MxEP currently manages over € 1 billion in assets.

About Vitruvius partners – www.vitruvianpartners.com
Vitruvian is a leading international growth investor headquartered in London with offices in London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change in all industries. Vitruvian has supported over 100 companies and has assets under management of approximately € 10 billion. Notable investments include global market leaders and disruptors in their fields such as CRF Health, Fotona, Ada, doctari, Vestiaire Collective, Farfetch, Just Eat, Marqeta and TransferWise.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211021005463/en/

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Contacts

Hurry:
Global Head of Communications
Charlotte Garzino: c.garzino@dental-monitoring.com

#distro

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SEC report on GameStop saga ignores bigger questions https://www.spiritether.net/sec-report-on-gamestop-saga-ignores-bigger-questions/ https://www.spiritether.net/sec-report-on-gamestop-saga-ignores-bigger-questions/#respond Wed, 20 Oct 2021 23:15:00 +0000 https://www.spiritether.net/sec-report-on-gamestop-saga-ignores-bigger-questions/

The long-awaited report on the Securities and Exchanges Commission (SEC) GameStop’s short-term fiasco has been released and the results are disappointing. The report avoids policy changes, and its strongest sections could hardly be called soft recommendations.

In January, organized retail investors noticed the GameStop stock was heavily short and tricked the r / wallstreetbets subroutine into pumping the stock, effectively punishing short sellers. That is, until multiple platforms stop trading the action in unison.

Many retail traders will want to know what the SEC has found regarding potential collusion between losing hedge funds and trading platforms. The SEC found no wrongdoing, no collusion between the big players and no manipulation of the market. His discourse on stopping brokerage operations by brokerage houses mostly seems to accept the reasons given by these platforms at face value, namely margin calls and “NSCC imposed capital charges”.

Other than that brief explanation, it largely avoids the theory that hedge funds like Melvin Capital may have lobbied platforms or called for a halt to trading on GME. With multiple platforms freezing trading in these memes shares at the same time, retail traders were worried the fix was in place – a sentiment that ultimately led to a congressional hearing.

The main points of the report are:

  • Proposes to shorten the settlement cycle to mitigate systemic risk and the possibility of brokerage firms restricting trading
  • Requests to consider whether video game-like features should be present in trading applications, as well as the checkout flow model for orders
  • Mentions the lack of transparency of wholesalers and the fewest requirements they have to comply with
  • Call for better short selling reports so regulators can better keep up with the momentum

As you can see, the report is hardly convincing.

Oddly, the “SEC GameStop Report” also seems to counter the main narrative of the whole affair – the narrative that was easy for anyone to see on the internet:

The underlying motivation for such buying volume cannot be determined. Whether motivated by a desire to squeeze short sellers and therefore profit from the resulting price hike, or by belief in GameStop fundamentals, it’s the positive sentiment, not the buying. to cover, which has supported price appreciation for weeks. of GameStop action.

This quote goes against what most people have seen with their own eyes. An organized group of retail investors extorted the life of a hedge fund. While many investors defended their stocks by saying “I like the stock”, a large number of comments on r / wallstreetbets have shown that this is more of a political statement for many than an investment.

Two Republican SEC commissioners Hester Peirce and Elad Roisman also felt this report was not what we expected:

This report should have been an innocuous report on the events of the beginning of this year and, if it is clear from the data, an assessment of the causes of these events. Surprisingly, the report turned into an account of these awkwardly interwoven events with discussions of market practices and policies that mirror conversations at the Commission level unrelated to the details of the January events.

The SEC’s main focus has been on the narrative of brokerage firms being tricked into maximizing the number of trades, which could cause retail investors to go further than they would otherwise like.

Brokerages have benefited from the PFOF (Payment For Order Flow) model, collecting fees from market makers to whom they divert orders – a practice that can sometimes generate conflicts of interest, and the reason why applications like Robinhood can remain commission-free.

In this case, a conflict of interest was reported. Citadel Capital, the company to which Robinhood was diverting many trades, has a CEO (Ken Griffin) with a large stake in Melvin Capital, the main company being devastated by the short squeeze. Griffin had claimed he had no contact with the Citadel.

As the #KenGriffinLied hashtag started to become a trend on Twitter, the social media platform quietly changed it to #KenGriffin.

Combine PFOF with Robinhood’s trading gamification, which blew up the user’s screen with confetti and launched hot air balloons to celebrate a completed trade, and we open a discussion on whether trading apps should or should not use a proven behavioral psychology to increase the amount of trades.

The SEC claims that a cocktail of PFOF, trade gamification, and relief checks sent out by the Biden administration resulted in a perfect storm that prompted more trades than normal, leading to the GameStop debacle in January.

This narrative is certainly different from what many retail investors would have expected, and one which absolves short sellers and trading apps of any wrongdoing (other than the same psychological manipulation on most social media apps). It’s in line with what the Robinhood executives pushed, that this was all just a series of extraordinary events.

Perhaps the most positive aspect of the report is that the PFOF model can be reviewed, which may reduce future conflicts of interest.

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One Heritage Group plc: Annual results for -12- https://www.spiritether.net/one-heritage-group-plc-annual-results-for-12/ https://www.spiritether.net/one-heritage-group-plc-annual-results-for-12/#respond Wed, 20 Oct 2021 06:01:11 +0000 https://www.spiritether.net/one-heritage-group-plc-annual-results-for-12/
Payment of lease liabilities                           -                 (18,534)    -         -           (18,534) 
Total changes from financing cash flows                16,745,192        (18,534)    -         -           16,726,658 
Changes arising from obtaining or losing control of    -                 -           -         -           - 
subsidiaries or other businesses 
Other changes 
Liability related 
New leases                                             -                 154,149     -         -           154,149 
Capitalised borrowing costs                            285,817           -           -         -           285,817 
Interest expense                                       59,072            5,356       -         -           64,428 
Interest paid                                          (344,889)         -           -         -           (344,889) 
Total liability-related other changes                  -                 159,505     -         -           159,505 
Total equity-related other changes                     -                 -           -         -           - 
Balance as at 30 June 2021                             16,745,192        140,971     -         -           16,886,163 21. Trade and other payables 
                             30 June 2021 30 June 2020 
GBP unless stated 
                                          Unaudited 
Trade payables              549,317        378,417 
Accruals and prepayments    56,341         283,650 
Provision                   24,368        - 
PAYE payable                19,325         3,947 
                            649,351        666,014 

Trade payables and accrued liabilities correspond to amounts payable at the closing date for services received during the period.

During the year, the Group made provisions for dividends received from an associate (note 16).

The company has financial risk management policies in place to ensure that all creditors are paid on time credit.

Transactions between the Company and its subsidiaries, which are related parties, have been eliminated upon consolidation and are not disclosed in this note. 22. Financial instruments – fair value and risk management

Accounting classifications and fair values

The following table presents the carrying amounts and fair values ​​of financial assets and liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

As of June 30, 2021

                                   Carrying value                                           Fair value 
                                                            Other 
GBP unless stated                    Financial assets at                      Total     Level 1 Level Level 3   Total 
                                   amortised cost           financial                         2 
                                                            liabilities 
Financial assets not measured at 
fair value 
Trade and other receivables        667,759                  -               667,759   -       -     667,759   667,759 
Cash and cash equivalents          204,147                  -               204,147   204,147 -     -         204,147 
                                   871,906                  -               871,906   204,147 -     667,759   871,906 
Financial liabilities not measured 
at fair value 
Secured bank loans                 -                        959,410         959,410   -       -     959,410   959,410 
Related party borrowings           -                        4,218,063       4,218,063 -       -     4,218,063 4,218,063 
Lease liability                    -                        402,709         402,709   -       -     402,709   402,709 
Trade and other payables           -                        649,351         649,351   -       -     649,351   649,351 
                                   -                        6,229,533       6,229,533 -       -     6,229,533 6,229,533 
 

As of June 30, 2020 (unaudited)

                                  Carrying value                                  Fair value 
                                                          Other 
GBP unless stated                   Financial assets at                    Total      Level 1 Level Level 3    Total 
                                  amortised cost          financial                         2 
                                                          liabilities 
Financial assets not measured at 
fair value 
Trade and other receivables       132,622                 -              132,622    -       -     132,622    132,622 
Cash and cash equivalents         711,798                 -              711,798    711,798 -     -          711,798 
                                  844,420                 -              844,420    711,798 -     132,622    844,420 
Financial liabilities not 
measured at fair value 
Secured bank loans                -                       4,770,000      4,770,000  -       -     4,770,000  4,770,000 
Unsecured bank loans              -                       -              -          -       -     -          - 
Related party borrowings          -                       12,872,194     12,872,194 -       -     12,872,194 12,872,194 
Lease liability                   -                       140,971        140,971    -       -     140,971    140,971 
Trade and other payables          -                       666,014        666,014    -       -     666,014    666,014 
                                  -                       18,449,179     18,449,179 -       -     18,449,179 18,449,179 
 

Significant unobservable valuation technique and inputs

The following tables present the valuation techniques used to measure the level 2 and level 3 fair values ​​of financial instruments in the statement of financial position, as well as the main unobservable inputs used.

Financial instruments measured at fair value.

The valuation is equivalent to the cost because it can be reimbursed at any time by the borrower and therefore no sensitivity is provided.

Financial risk management

The Group is exposed to the following risks related to financial instruments:

– Credit risk

– Liquidity risk

– Market risk

Risk management framework

The Company’s Board of Directors has overall responsibility for establishing and monitoring the Group’s risk management framework. The Board of Directors has set up the Risk Management Committee, which is responsible for developing and monitoring the Group’s risk management policies. The committee reports regularly to the board of directors on its activities.

The Group’s risk management policies are established to identify and analyze the risks facing the Group, to set appropriate risk limits and controls and to monitor risks and compliance with limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. The Group, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Group’s audit committee supervises the way in which management monitors compliance with the Group’s risk management policies and procedures and examines the adequacy of the risk management framework in relation to the risks facing the Group.

Credit risk

Credit risk is the risk of financial loss when counterparties are unable to meet their obligations. The Group’s policy is that excess liquidity, when not used to repay loans, is deposited with the Group’s main relational banks and with other banks or money market funds on the basis of a rating of minimum credit and maximum exposure.

Significant concentrations of credit risk relate to related parties (see notes 17, 18 and 25).

Management considers that the credit quality of the various receivables is good in relation to the outstandings and therefore the credit risk is considered low.

The book value of financial assets represents the Group’s maximum exposure to credit risk at the closing date, assuming that any security held has no value.

Cash and cash equivalents

The Group had cash and cash equivalents of 204,147 as of June 30, 2021 (2020: 711,798).

Bank                  Amount held (GBP) Standard and Poor's Moody's Fitch 
Barclays Bank UK Plc  197,064         A                   A1      A+ 
Bank of China         4               A+                  AA3     A 
Santander Bank        6,445           A                   A2      A- 

The Group also holds a petty cash of GBP 634 as of June 30, 2021 (June 30, 2020: GBP 1,000).

Guarantees

The Group’s policy is to provide financial guarantees only for the liabilities of subsidiaries. As at June 30, 2021, the Company has issued a guarantee to certain banks in respect of the credit facilities granted to One Heritage Oscar House Limited 122,447 GBP (30 June 2020: nil) and One Heritage Lincoln House Limited, 770,000 GBP (30 June 2020: GBP 770,000), subsidiaries, see note 20.

Liquidity risk

Liquidity risk is the risk that the Group does not have sufficient financial resources to meet its obligations as they fall due. The Group manages liquidity risk by constantly monitoring expected and actual cash flows, by matching the expected cash flow maturities of financial assets and liabilities with the use of cash and cash equivalents, borrowings, overdrafts and revolving credit facilities committed with a minimum of 12 months to maturity.

Future borrowing needs are forecast on a monthly basis and the cash flow is maintained above peak expected needs to deal with unforeseen events. As of June 30, 2021, the Group’s loans and facilities have a range of maturities with an average term of 19 months.

(MORE FOLLOWING) Dow Jones Newswires

October 20, 2021 02:00 ET (06:00 GMT)

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Shortseller Carson Block on GameStop, China and Why Stock Market Crash Could Be “Much Bigger, Much Faster” Than Ever https://www.spiritether.net/shortseller-carson-block-on-gamestop-china-and-why-stock-market-crash-could-be-much-bigger-much-faster-than-ever/ https://www.spiritether.net/shortseller-carson-block-on-gamestop-china-and-why-stock-market-crash-could-be-much-bigger-much-faster-than-ever/#respond Tue, 19 Oct 2021 21:14:21 +0000 https://www.spiritether.net/shortseller-carson-block-on-gamestop-china-and-why-stock-market-crash-could-be-much-bigger-much-faster-than-ever/ Short seller Carson Block, founder and chief investment officer of Muddy Waters Capital, spoke with Financial news in a Barron’s Live event earlier this month. The influential investor discussed the mad rush of the markets this year and how he is approaching conditions that he believes are difficult for short sellers.

Below, an excerpt from the interview. It has been edited for length and clarity.

On liabilities and short sales

The most important factor for short sellers, and often the most overlooked, is actually passive investing. The effect that passive investing has on stock prices – I previously assumed this was sort of a linear effect, and it wasn’t that big of a slope. But what I actually learned is that in passive buying it takes an active holder off the float and replaces it with a passive one so your stock of inventory ends up shrinking. When you have names that are in indices that receive a lot of flow through index funds, it creates this upward convex effect on prices. This is arguably the number one factor that has made shorting so difficult over the past half-decade.

But obviously the low interest rate environment, the fact that companies could expand and pretend, that made it extremely difficult. The lack of enforcement that we saw coming out of the global financial crisis – it’s not great for short sellers. So it was a very difficult time. And these are evolutionary pressures – either you adapt or you die. So far we have adapted and hopefully will continue to adapt.

Invest in china

I cried out into the abyss for many years over China. When I started doing it, from 2010 to 2012, only issuers based in China were all scammers. Suddenly China could no longer invest, and most of the Chinese companies listed in the United States either died out and were delisted, or they simply stopped pumping their stocks. But then an interesting thing happened. At that time, in 2012, state banks began funding the leveraged buyout of a number of these frauds, so US shareholders received a real premium on these companies and the memories were erased.

In 2014, Alibaba listed. Everyone wanted a piece of ‘Baba. No one cared about the voices that said “Wait a second, this financial data seems like it couldn’t be right.” Nobody cared and from 2014 until very recently nobody cared.

READ Spacs short seller Carson Block: “The incentives are all wrong”

In early 2018, I was sort of preaching the gospel. I’m saying if you look at the relationship between the United States and China, it starts, metaphorically, to take hold in almost every major aspect that the two countries connect with. Foreign direct investors in China were actually speaking publicly about how they felt they were treated unfairly in China.

The only dry ground was the public markets, and this idea that Western capital, especially American capital, would invest in Chinese public stocks. I was saying I don’t think it can persist, and it sure shouldn’t persist, because there has been so much abuse, so much fraud done, I think a lot of stock manipulation has been done. No one could be held responsible in China, by the United States, and it’s actually codified in China’s securities law, so I warned that these chickens would one day return home to roost. . And I think they finally got home to roost.

Maybe I’m wrong, but I think we’re in the final stages here for the US-China roster. The Chinese government has always been great at providing disinformation to foreigners. So I would pay attention to that.

On actions even

GameStop gets to the point I mentioned earlier about the passive, because it wasn’t a bunch of passive buying pushing the stock higher. There was the nominal free float, but then there was, I think, 20-25% that was held by the liabilities, and the liability will never sell unless it has exits, and the liability will keep buying. whatever the price, unless it has exits. So every day that people make those contributions that 401Ks, no matter what liabilities they bought, it shrank what seemed like the float.

Take 20-25% of the outstanding amount, subtract it from the free float, so your actual free float, the actual supply of available-for-sale stocks was tiny, and you had a large short position that was several times larger than the actual supply of available shares. This has been correctly identified on [Reddit forum] WallStreetBets several months before the start of compression; one or more posters, exposing this business and saying that this thing can be pressed hard just by buying calls out of the money.

And if there’s something that drives the stock up, the delta hedging by the options market makers, it’s just going to push it up, push it through the ceiling. Techniques are the new fundamentals of the market. It’s the new fundamentals, it’s the technicalities, it’s the feeds, basically, and an options market driven tail wagging the dog.

When GameStop really continued to rise, it was mostly institutional. The story revolved around the retailer who was making all that money. I mean, there are institutions that killed him doing that. But it’s just not our game. I don’t like these games. At best, you’re trying to figure out if it keeps going up or down or whatever. At best, it’s like a 55% game. It’s really, I think, just a coin toss. So no, we don’t do that.

READ Have the memes stocks had their day?

On if he sees a major fix coming

I’ve seen a major correction since 2011, so don’t listen to me. What the last 12 years have taught me is to be completely equivocal about these things. When you think about this passive dynamic and how it relentlessly pushes up so many of these stocks, especially index stocks, when those fund flows reverse, whether it’s this year or otherwise, the market is extremely fragile because you have removed so many active managers from the market.

So when the flow is reversed and passive selling is underway, it sells for any price, and there just aren’t enough active managers left to really cushion those drops. So maybe it’s become like a seven sigma event that the market is going to sell, but the result when it does is likely to be a much bigger crash and a lot faster than what has been seen.

And how do you protect yourself from that? I do not know. I mean, you’re just trying not to be the one holding the bag.

To contact the author of this story with comments or news, email Trista Kelley

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The profit of TV18 Broadcast Q2 doubles to Rs 231 cr https://www.spiritether.net/the-profit-of-tv18-broadcast-q2-doubles-to-rs-231-cr/ https://www.spiritether.net/the-profit-of-tv18-broadcast-q2-doubles-to-rs-231-cr/#respond Tue, 19 Oct 2021 15:38:21 +0000 https://www.spiritether.net/the-profit-of-tv18-broadcast-q2-doubles-to-rs-231-cr/

TV18 Broadcast Ltd on Tuesday announced a double increase in its consolidated net profit to Rs 231.40 crore for the second quarter ended September 30, 2021.

The company had recorded a net profit of 115.55 crore rupees during the period last year, the media company said in a regulatory filing.

Consolidated operating income increased 29.14% to Rs 1,307.90 crore in the quarter under review from Rs 1,012.80 crore a year ago.

“Consolidated EBITDA for the quarter increased 53% year-on-year, operating margin by 18.2%,” the company said in a post-earnings statement, adding that the information and entertainment business further improved their profitability.

Total expenses for the quarter were Rs 1,104 crore, up 21.34% from Rs 909.82 crore.

TV18 Broadcast Chairman Adil Zainulbhai said the quarter was quite remarkable, both from a macro perspective and from a business perspective.

The outlook, he said, looks quite promising in the medium term and that is good news for consumer-oriented businesses.

“With the expansion into the sports genre, we have taken an important step towards extending our entertainment portfolio to the next level. This will help us position ourselves as a truly integrated media company in broadcast, OTT and content studios spanning general entertainment, news, movies and sports, ”Zainulbhai said.

Shares of TV18 Broadcast on Tuesday settled at Rs 46.15 each on BSE, down 1.18%.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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5 things to know about the Allegro e-commerce platform https://www.spiritether.net/5-things-to-know-about-the-allegro-e-commerce-platform/ https://www.spiritether.net/5-things-to-know-about-the-allegro-e-commerce-platform/#respond Mon, 18 Oct 2021 23:41:11 +0000 https://www.spiritether.net/5-things-to-know-about-the-allegro-e-commerce-platform/

Amazon, eBay, and Chinese platforms dominate the global e-commerce space, but Polish e-commerce company Allegro has earned its stripes as one of the most popular platforms in Poland and one of the leading brands. of electronic commerce in Central Europe.

According to data from SimilarWeb, the Polish platform is the 10th largest e-commerce platform in the world in terms of monthly visits and the only top 10 company operating in Europe. The company was launched over 20 years ago, offering eBay-like services, and today has 33% of the e-commerce market, employing more than 3,750 people. Its website attracts over 20 million visitors per month.

See also: Amazon opens its doors in Poland

Amazon is the platform’s biggest competitor in Poland, and the rollout of the Amazon Prime service in Poland with free shipping and video streaming this month caused Allegro’s shares to fall 3.7%. Amazon’s Polish website went live before that in March, increasing competition in the country’s e-commerce space with the price of its Prime service priced at 49 zlotys (around $ 12.35) per year.

Read more: Amazon Prime goes live in Poland with free shipping, video streaming

In this article, PYMNTS takes a closer look at the Polish ecommerce platform making waves in Europe, highlighting five things uncovered in our analysis.

  • Allegro has the largest Initial Public Offering (IPO) ever made on the Warsaw Stock Exchange to date.

Thanks to strong revenue growth, profitability and growing cash flow, Allegro became the largest IPO in Polish history last October, raising around $ 2.3 billion at a valuation of $ 17.6 billion when it was listed on the Warsaw Stock Exchange (WSE).

See more : Pole Allegro triumphs as stock soars in public debut

Only a quarter of Allegro was floated in the IPO to achieve the feat, and the company has since joined WIG20, the top 20 companies in the WSE, which rose 0.61% to a record high. three years old last week.

“Allegro is a unique success story shaped over 20 years, from a local startup to a European champion in e-commerce,” said Allegro CEO François Nuyts in a statement announcing the company’s intention to s ‘publicly register on the WSE a month ago.

“Alongside 12.3 million active buyers and 117,000 traders, we are leading the digital transformation of the Polish economy and improving the daily lives of millions of Poles and thousands of [small- to medium-sized businesses (SMBs)]”, added Nuyts.

  • Allegro has put his company on an environmentally friendly path.

Allegro went green by launching green parcel lockers in Poznań and Warsaw, its first environmentally friendly parcel lockers, in June this year, according to a press release.

“Our parcel lockers will be powered by renewable energy sources and fitted with air quality sensors, and we will publicly share our measurements,” said Marta Mikliszańska, Head of Public Affairs and Sustainability at Allegro. , in the press release. “Noise and visual pollution are also our main considerations. “

The company is also working with local governments as part of its goal of investing in green walls on buildings.

  • Allegro has launched a new logistics service for traders.

In September, the company launched a new logistics service, One Fulfillment by Allegro, “to help businesses store, package, ship and deliver orders, as well as manage returns,” the company said in a statement. hurry.

Merchant customers can now offer customers a wider range of delivery options at competitive prices negotiated by Allegro, allowing customers to benefit from next day or same day delivery services.

Allegro invited “a few dozen” companies that use its platform to join a pilot program before the service becomes widely available to merchants in the first quarter of 2022, adding 1,200 jobs at its new One Fulfillment center.

  • Allegro has acquired a same day delivery partner to complete its execution and deployment of the lockers.

This month, the Polish company acquired one of its smaller-scale same-day delivery partners, X-press Couriers, to further develop the service and complement Allegro’s One Fulfillment offering and rollout of locker infrastructure, according to a press release.

X-press Couriers offers same-day delivery to the nine largest municipalities in Poland and complements the recently launched One Fulfillment by Allegro pilot program.

Allegro Business Development Manager Grzegorz Czapski said in the statement that several million users of the platform have the option of same-day delivery, and as customers use this service as an alternative to shopping. offline, the company has noticed that it generates additional sales for merchants. .

“We expect that scaling up these capabilities and deploying them to other major cities – when paired with our fulfillment and locker services – will both improve the customer experience. and will enable us to provide these services at marginal cost to our customers, ”Czapski said.

  • Allegro sets up new sources of income.

According to a press release summarizing its second quarter results for 2021, Allegro Pay continues to gain popularity given its “simplicity and convenience” with loans issued, increasing 95% to 347 million zlotys (around 88 million dollars) in the second quarter.

Allegro Biznes, launched in February for B2B customers, has grown to overtake the total market as offers with B2B discounts continue to soar and “buyers praise wide choice, quick purchases and security” .

The company also plans to expand beyond Poland, and traders can export more than 35 million deals across the European Union through an integrated logistics carrier negotiated by Allegro.

Although Amazon questions its dominance in the Polish market, the company’s revenue grew 28.4% year-on-year to 1.3 billion zlotys ($ 328 million) in the second quarter of 2021 , with the number of active buyers increasing 7.2% to 13.2 million during the same period. period.

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NEW PYMNTS DATA: DIGITAL BANKING STUDY – THE BATTLE OF BREWING FOR WHERE WE WILL BANK

On: Forty-seven percent of U.S. consumers avoid digital-only banks due to data security concerns, despite considerable interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can boost privacy and security while providing convenient services to meet this unmet demand.

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Turkey in talks to buy more F-16s as it struggles to revamp its fighter fleet (update) https://www.spiritether.net/turkey-in-talks-to-buy-more-f-16s-as-it-struggles-to-revamp-its-fighter-fleet-update/ https://www.spiritether.net/turkey-in-talks-to-buy-more-f-16s-as-it-struggles-to-revamp-its-fighter-fleet-update/#respond Mon, 18 Oct 2021 21:11:15 +0000 https://www.spiritether.net/turkey-in-talks-to-buy-more-f-16s-as-it-struggles-to-revamp-its-fighter-fleet-update/

The United States offered to sell Turkey another batch of F-16 fighter jets after the country was sensationalized from the F-35 Joint Strike Fighter program in 2019 after purchasing air defense systems Russian-made S-400. According to Turkish President Recep Tayyip Erdogan, the latest offer was made to offset Turkey’s failed $ 1.4 billion investment in the Joint Strike Fighter program, in which it was a major supplier of components, as well as the ‘intention to buy more than 100 copies. for its own air force.

The latest development of the fallout from Turkey’s decision to buy the S-400, despite considerable pressure from the United States, emerged yesterday and was quickly followed by reports from Russia, which launched its own fighters to Turkey as an alternative to its traditional Western Equipment.

TURKISH MINISTRY OF NATIONAL DEFENSE

Items associated with the S-400 air defense system arrive in Turkey in July 2019.




“There’s the $ 1.4 billion payment we made for the F-35s, and the United States had such a proposal in return for those payments,” Erdogan told reporters. “In this regard, we said that we are taking all necessary measures to meet the defense needs of our country,” he added. Reuters reported that Erdogan said discussions with Washington on the issue were ongoing.

The apparent U.S. offer follows reports earlier this month that Ankara had requested the purchase of 40 new-build F-16 jets as well as nearly 80 upgrade kits for existing aircraft, as part a planned modernization effort of the Air Force. In the past, Turkey has also requested reimbursement of payments of $ 1.4 billion, as long as F-35 deliveries were suspended, but without success.

At one point, the Turkish Air Force expected to receive more than 100 F-35s and deliveries of the first planes to training units in the United States began when Ankara was withdrawn from the program, a process you can read all about in this previous War zone story. The planes that had been completed for Turkey were then diverted to the US Air Force.

The United States had repeatedly threatened to act if Ankara did not abandon its S-400 purchase. In addition to being kicked out of the JSF program, Turkey has been hit by US sanctions, while Turkish defense officials – including the head of the Defense Industry Directorate – have been blacklisted .

ANADOLU AGENCY

The unveiling ceremony of the first F-35A scheduled for Turkey, in June 2018.




Clearly, Erdogan now wants to recoup something from his country’s investment in the Joint Strike Fighter program after a complicated process to pull Turkish industry out of the stealth fighter’s global supply chain. According to official reports, Turkish companies at one point supplied 1,005 parts for the airframe and engine of the F-35.

At the same time, the Turkish Air Force is facing issues of obsolescence, especially with its Greek regional rival which has acquired advanced Dassault Rafale fighters from France, with the intention of acquiring also its own F-35 stealth fighters.

Dassault Aviation

With the delivery of its first Rafales, the Hellenic Air Force has created a qualitative gap with its Turkish rival.




While Turkey has its own fifth-generation fighter program, the TF-X has suffered delays and question marks remain about the viability of the aircraft and its subsystems. In 2019, the goal was to have a full TF-X prototype by 2023 and the first flight in 2025.

This ambitious schedule no longer seems achievable, with the costs and complexity inherent in the TF-X program now also being compounded by the severing of relations with the United States, which would have supplied the General Electric F110 engines initially intended to power the fighter. .

TAI

A model of the TF-X was unveiled at the Paris Air Show in 2019.




With the TF-X’s prospects for success appearing less likely, at least in the short term, Turkey has made efforts to replace the F-35 with a workaround, in the form of a comprehensive local upgrade of its fleet of Existing F-16. As we discussed earlier this year, a structural improvement program is currently underway to extend the life of some of the older F-16s in the Turkish inventory.

The Turkish Air Force remains the third Viper operator in the world, with a total of 270 F-16s delivered in successively more efficient Block 30, Block 50 and Block 50+ configurations. The F-16 is so important to the Air Force that Turkey reportedly started stockpiling spare parts for its Vipers in July 2019, even before the sanctions were introduced. Purchasing a new batch of F-16s would also likely help keep the current fleet operational, ensuring a continued flow of spares and support from the United States.

US Air Force / Senior Airman Asha Kin

A Turkish Air Force maintainer participates in a scrambling competition in support of the multinational exercise Falcon Air Meet in 2011.




The other fighter in the Turkish inventory is the Cold War-era F-4E, which is now in dire need of replacement, although these jets have also undergone a major mid-life upgrade, becoming the Terminator 2020.

There could also be another potential local solution to the Turkish fighter problem, Turkish Aerospace also working on the Hürjet, a single-engine supersonic advanced trainer that can also be adapted as a light fighter. Manufacturing of the first prototype is expected to begin before the end of this year. While the Hürjet also relies on an engine supplied by the United States, at least in its initial version, there are many other light fighter options that could provide a cheaper way to modernize the military. air, although a solution of this type would help offset the capabilities offered by the Greek Rafales and, potentially, the F-35s.

It could also be that instead of getting more new build Vipers, Turkey could opt for more upgrade packages for its existing F-16s. This would parallel Greece’s upgrade program, which brings 84 planes to the Block 70/72 standard, which includes the AN / APG-83 scalable agile beam radar (SABR), among other improvements. The cost of this Greek deal has been estimated at around $ 1.5 billion.

Lockheed Martin

An artist’s conception of a Block 70/72 F-16 Viper.




The Block 70/72 is the latest production configuration for the popular jet, with the accompanying F-16V upgrade package bringing older jets to a similar standard. Going forward, Lockheed Martin plans to further “commoditize” its F-16 lineup with a single standardized configuration, with a standard base price. All Vipers are now built on a dedicated Viper production line that has moved from Texas to South Carolina.

Lockheed Martin

The new F-16 production line in Greenville, South Carolina.




However, there are still hurdles to overcome before Turkey gets its hands on new F-16s from the United States. A potential sale could still be vetoed by the US Congress, which would still be able to signal Turkey’s controversial acquisition of S-400 systems, which have now been tested against military jets Turkish air force, including F-16s.

Besides the S-400 issue, there have been other diplomatic clashes between Turkey and the United States in recent years. These include the country’s relocation to Moscow, growing ambitions in the Eastern Mediterranean and its human rights record. Meanwhile, Turkey’s involvement in the conflict in Syria in 2019 led to calls for a full arms embargo from powerful members of Congress.

ALEKSEY NIKOLSKI / SPUTNIK VIA AP

Turkish President Recep Erdogan shakes hands with Russian President Vladimir Putin during a meeting on the conflict in Libya in January 2020.




With these tensions in mind, Moscow has kept a close eye on Turkey’s fighter needs and has offered both the multirole Su-35 and the advanced Su-57 in the past. Almost as soon as information emerged on the latest negotiations on more F-16s for Turkey, the official Russian news agency TASS reported that Turkey was considering both the Su-35 and the Su-57, in the event of talks with the United States. Failed states.

“If the United States does not approve an F-16 deal after the situation with the F-35 planes, Turkey will not be left without alternatives,” said Ismail Demir, the head of the industry. defense of Turkey. TVN TV channel. “The issue of the Su-35 and Su-57 aircraft may resurface at any time.”

MIKHAIL VOSKRESENSKIY / SPOUTNIK VIA AP

Putin and Erdogan inspect a Su-57 during the biennial MAKS airshow outside Moscow in 2019.




Although the United States continued to issue warnings against Turkey buying more Russian military equipment, Ankara remained determined and Erdogan even announced plans to buy a second batch of S-400s from Moscow. That, or a decision to buy Russian-made fighter jets, would likely trigger further action on Washington’s part and further complicate relations between Washington and Ankara.

As it stands, it’s unclear whether the new F-16 deal will go through Congress, with bipartisan support calling for continued pressure on Ankara, while Turkey has expressed hope that relations can be reestablished with the Biden administration. But it seems certain that the repercussions of the S-400 deal will continue to be felt, no matter what type of fighter Turkey chooses to revamp its inventory.

Contact the author: thomas@thedrive.com

Update, October 18, 2:30 p.m. PST: During a briefing today, the US State Department neither confirmed nor denied that an offer of additional F-16 planes had been made to Turkey. However, State Department spokesman Ned Price said Washington had not made Turkey a financing offer for the plane.

“We refer you to the Turkish government to talk about their defense procurement plans,” Price added. “What I can say is that the United States has not made any funding offer on Turkey’s request for F-16s.”

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Drug dealer convicted of murdering father of five after being bypassed while selling drugs to his daughter https://www.spiritether.net/drug-dealer-convicted-of-murdering-father-of-five-after-being-bypassed-while-selling-drugs-to-his-daughter/ https://www.spiritether.net/drug-dealer-convicted-of-murdering-father-of-five-after-being-bypassed-while-selling-drugs-to-his-daughter/#respond Mon, 18 Oct 2021 16:01:00 +0000 https://www.spiritether.net/drug-dealer-convicted-of-murdering-father-of-five-after-being-bypassed-while-selling-drugs-to-his-daughter/

Yanick Beresford, 25, faces a life sentence after being convicted of murder at Peterborough Crown Court today.

During the trial, the jury learned that Beresford realized he had only been paid £ 10 for drugs worth £ 230 after meeting a woman in Sandwich Close, Huntingdon on 5 October 2019.

The drug smuggling took place and the woman handed her the money before getting back into a car driven by her friend and driving home to Offord Cluny.

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Yanick Beresford

Later that same night, the father of the woman who had underpaid Beresford, Robert Duquemin, heard a ringing at his door in Percy Green Place in Huntingdon.

He opened the door thinking it was his daughter but soon after a man with a covered face attacked him but did not say a word.

Mr. Duquemin was punched in the head and body during the attack. The severity of the punches pushed him against the jamb of his neighbor’s door and knocked him to the floor.

His daughter told officers Beresford knew where her father, Mr Duquemin, lived and believed Beresford attacked him in revenge for the drug deal that had gone wrong.

Aiste Paulauskaite

The Beresford Hunt led officers to the home of his girlfriend Aiste Paulauskaite in Spring Close, Huntingdon. A search of the house revealed more than £ 5,000 in cash, drugs and drug paraphernalia. A damp t-shirt and a pair of gloves were also found in the washing machine.

The two were sent for forensic testing and the blood that had soaked on the gloves turned out to be Mr. Duquemin’s.

Beresford was arrested shortly after midnight on October 7, but responded “no comment” to majority questions posed by officers.

Paulauskaite was arrested and questioned, where she admitted to picking up Beresford on October 5 and driving him to and from Mr Duquemin’s road, but denied knowing what he had done during his stay.

She also allowed police access to her old phone containing a SIM card belonging to Beresford and revealed evidence of drug trafficking.

Another phone seized in Beresford gave a trace of his movements the day Mr Duquemin was attacked, including placing him at the man’s home and carrying out other drug trafficking afterwards.

Investigations also revealed that on October 6, the day after the drug trafficking and attack, Beresford used the phone to search for Mr Duquemin’s family on Facebook and also searched for defense attorneys and the expression “Huntingdonshire police”.

Mr Duquemin, 53, died at a home in Ringwood Close, Bury, Ramsey on October 10 following the attack five days earlier. An autopsy concluded that he died of a ruptured spleen as a result of blunt trauma.

Beresford was interviewed after Mr. Duquemin’s death and answered “no comment” to all questions except one. When told about the gloves found in his girlfriend’s washing machine, he visibly reacted, looked uncomfortable and said, “They weren’t washed.”

Beresford and Paulauskaite were tried at Peterborough Crown Court from September 20 and today (October 18) jurors have delivered their verdict.

Beresford was convicted of murder and had previously pleaded guilty to supplying Class A and B drugs.

Paulauskaite, 21, was convicted of aiding an offender. She had previously admitted to being concerned with the supply of class A and B drugs, and perverting the course of justice. Both will be sentenced by the same court on November 15.

Chief Detective Inspector Emma Pitts of the Beds, Cambs and Herts Major Crime Unit said: “Robert was a father of five and his family was devastated by his death.

“Beresford viciously attacked him in his own home for the sake of a drug case gone awry. Drugs cause misery in communities and are often the catalyst for more serious crimes; this case is a stark reminder of that fact.

“My thoughts and deepest condolences remain with those close to Robert, and I only hope that today’s verdict can provide some closure for them as they learn to live with their loss.”

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