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Saturday, November 27, 2021

1

Why I Decided To Take the Digital Marketing Nanodegree program?

2

“Bitcoin” exceeds 67,000 dollars, recording an all-time high

3

The Egyptian film “feathers” wins the Golden Tanit at the Carthage Film Festival

4

The 14th edition of the maroocian International Women’s Film Festival in Salé kicks off

5

Who is the mysterious financier behind Trump’s new media company?

6

A movie turns into reality.. Alec Baldwin’s bullets kill the director of photography and injure the director

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Category: Business news

Who is the mysterious financier behind Trump’s new media company?

Mohamed Rezk

From WeWork’s Miami office, a mysterious financier named Patrick Orlando becomes an unexpected force behind what for a moment appears to be a meme stock, the media startup of former US President Donald Trump.

The Orlando Corporation is set to stand financially behind the “Trump Media and Technology Group”, which is an attempt by the former president to push back against the big tech companies.

Trump says he plans to start a social network called TruthSocial, but has broader ambitions to create a conglomerate comprising news, live broadcasts, and technology to rival CNN and Disney+.

The company will go public through its merger with Orlando-based Digital World Acquisition Corp.

If all goes according to plan, it will happen before the 2022 midterm elections, enabling Trump to reach millions of supporters after he was kicked out of Twitter and Facebook for fomenting a rebellion in the Capitol.

The confluence of money and politics
The surprising news that Trump was seeking to launch his own platform through a special purpose acquisition company sent shares of Digital World soaring, spurred by the entry of retail investors in droves.

That sent the stock up more than 350% on Thursday, giving the company a valuation of about $1.8 billion.

Regardless of whether Trump is able to successfully implement this business venture, it is still almost unimportant.

The rally in the PSA stock is a meeting point between two powerful forces — one financial and one political — in a situation where markets and social media frenzy have converged, akin to a GameStop rush earlier this year.

office in Wuhan
This deal brings together an unexpected cast of characters. Orlando, a former derivatives trader at Deutsche Bank, launched banking company Peniceri Capital nearly a decade ago. He also co-founded a sugar trading company and worked in sugar refining.

Recently, companies have adopted a “blank check”. Orlando is also the CEO of Yunhong International, a special purpose acquisition company incorporated in the Cayman Islands, with its office in Wuhan, China.

Yunhong International raised $60 million last year and was supposed to merge with battery maker Giga Carbon Natural, but the deal was canceled in September.

It is reported that Orlando did not return calls and an email seeking his comment.

“Digital World”
Digital World raised $293 million in September from a group of hedge funds including DI Shaw & Co, Saba Capital Management, Highbridge Capital Management, Palm Beach, and Lighthouse Investments. Partners are headquartered in Florida.

Unlike most SPVs, the company does not have large private investors or private investment in public equity. They support SPC mergers by helping to enable a deal to take place even when early investors decide to redeem their shares. The World Digital board of directors is known to be easy on people with media experience.

World Digital’s chief financial officer is Luiz Felipe de Orleans y Braganca, a member of Brazil’s National Congress. He is often referred to as a “prince” due to his claim to the defunct Brazilian throne as a descendant of Emperor Pedro II.

Braganca, who advocated a return to the monarchy in Brazil, served as director of Time Warner’s Latin America division.

“This new platform will fight the tyranny of the tech giants,” Braganca, 52, said in an Instagram post that included a picture of him with Trump.

“Sports capitalism” is sweeping Europe’s clubs… and hedge funds are mobilizing to grab deals

Ibrahim Elaidy

Just as the match that took place, last Tuesday, between AC Milan and Atletico de Madrid in the Champions League, was highly competitive between the most successful Italian team in the Champions League and the team that won the Spanish League title last year, the competitive match Similar others swirl in the financial sector between a New York-based hedge fund and a Los Angeles-based trust.

Elliott Management Corp. took control of AC Milan in 2018 after Chinese owner Li Yonghong defaulted on debt obligations. In contrast, the funds, managed by Ares Management Corporation, acquired a 34% stake in La Liga champions Atlético in June.

Both companies are highly wealthy alternative investment firms that have gradually gained a foothold in the world’s most popular sport. Companies specializing in private equity, credit, and hedge funds represent the latest wave of investors in sports, after a buying spree among billionaire soccer fans, Middle Eastern petrodollars, and Chinese buyers over the past two decades.

The most recent example of this is the announcement by Miami-based 777 Partners, on September 23, of its purchase of Italian club Genoa.

Some lent money to keep Europe’s most popular clubs alive, while others bought media rights, stable small teams, or took stakes in clubs as high-risk assets. The biggest investment venture has been across the entire league, such as CVC Capital Partners’ deal with La Liga, announced last month.

European football has always been in desperate need of money, but the matter has become even more urgent after the pandemic has kept the crowds off the pitch, leaving some of the continent’s biggest and most successful clubs saddled with huge debts, and that was the catalyst behind the failed European Premier League in April. , which JPMorgan planned to support.

The cascade risk is that football is based on a somewhat unpleasant business model, with many investors failing in an industry riddled with debt and bloated player salaries, and at the mercy of politics and overheated fans.

There are no guarantees in the returns associated with that industry, as a result of the threat of downgrading the team in the league if it fails to perform well enough. This raises a big question mark for US investors about whether European football will be able to reach the US sports ratings.

An agreement between the US judiciary and the financial director of “Huawei” to resolve criminal charges against her

Mohamed Rezk

Ming Wanzhou, the chief financial officer of Huawei Technologies, and the US Department of Justice have reached an agreement to resolve criminal charges against her.

Federal prosecutors in Brooklyn, New York, told the US judge presiding over Meng’s case that they would appear in court on Friday afternoon “to consider before this court a decision on the charges against the defendant.”

Ming will get a deferred agreement to prosecute, according to a person familiar with the matter. The agreement means that Ming will not plead guilty. It has not yet been determined whether she will be allowed to return to China. Dow Jones said she would be able to return.

Prosecutors allege that Huawei and Ming lied to HSBC Holdings about Huawei’s relationship with a third company that was doing business in Iran, as part of a scheme to violate US trade sanctions on Tehran. But Huawei has said it is not guilty.

Meng, Huawei’s chief financial officer, was arrested in December 2018 in Vancouver, Canada, as she was resisting a US extradition request.

John Marzolli, a spokesman for Brooklyn’s acting attorney general Jacqueline Casoulis, declined to comment on Meng’s case. US Department of Justice officials did not immediately respond to requests for comment.

A possible solution to the issue comes just days after the Canadian election in which Prime Minister Justin Trudeau faced harsh criticism from the rival Conservative Party over his handling of relations with China. In the days following Meng’s arrest in Vancouver, Beijing detained two Canadians on national security charges. Trudeau’s current liberals won a third term, but the prime minister was unable to regain majority control of the legislature, and the continued detention of the two men remains a central issue in his government’s foreign policy.

Meng was accused of making a personal presentation in August 2013 to an executive of one of Huawei’s major banking partners, in which she lied about the relationship between her company and the third company. Prosecutors raised the stakes last year by adding conspiracy charges against Huawei, charges the Chinese company said it was innocent of.

Prosecutors and lawyers for Huawei have fought a battle over evidence since the case was revealed in early 2019. The company recently lost a battle to get more evidence from the government based on materials the United States submitted in Canada’s extradition request.

After gaining 6000% in “Getir”, a Turkish investment company finds a new lover

Malek Fahmi

The investment company that early supported Getir will prepare for its next step after its investment in the Turkish delivery app achieved a gain of nearly 6000% in value.

Re-Bay Asset Management Inc. sees significant opportunities in Turkey’s ‘Buy Now, Pay Later’ segment, a business model that is enjoying a global boom moment.

Re-Pay made its latest fintech investment in Colendi, a financial services platform with 2.4 million users, at a valuation of $120 million, just below the valuation that Geter snapped when it backed it. Asset manager in 2018.

“Kolindi fulfills all the ingredients to become the next unicorn company in Turkey,” said Emre Kamilibal, Chairman of RePay’s board of directors, in Istanbul.

Getter, along with e-commerce platform Trendyol, is spearheading a group of technology start-ups shaking up the corporate system structure in Turkey, and Hepsipurada.com, another major online shopping platform, and the first Turkish company to list on Nasdaq. “.

Gulf funds expect strong growth over the next year

Ibrahim Elaidy

Fund managers in the six countries of the Gulf Cooperation Council expect strong growth over the next year, supported by a growing demand for Islamic products and investments.

A study conducted by “Moody’s” credit rating agency said that half of the investment officials in the largest financing companies in the region expected a growth rate of more than 10 percent in net inflows, while a third of them expected a modest increase. Moody’s did not mention the names of those funds, according to “Reuters”.

Eighty percent of those surveyed expected a modest increase in investments, while 20 percent expected a slight decrease.

“About 25 percent of executives said that they have not yet incorporated environmental, social and corporate governance standards into their investment management decisions,” Moody’s added, noting that “the natural intersection between sustainable investing and Sharia-compliant social principles creates opportunities for the Islamic finance industry.”

More than 60 percent of CEOs said that Islamic financing instruments that are compliant with Islamic principles will see increased demand over the next year. Moody’s highlighted that Sharia principles include the prohibition of investing in tobacco, gambling, and the alcoholic beverage industry.

About half of the GCC-based funds surveyed by Moody’s said they were ready for mergers or acquisitions within the next two years, which the agency described as evidence of the sector’s growing sophistication and fierce competition.

Moody’s said that the decline in oil prices may constrain government spending and reduce economic growth, with negative consequences for asset managers and stock market returns, which in turn affects the assets of funds under management.

Business trips are ‘changed forever… and CEOs are happy with the results

Kenzie Rashid

Business travel, as we knew it before, has become a thing of the past. This is with several companies, ranging from Pfizer, Michelin, and LG Electronics, to HSBC, Hershey, Invesco, and Deutsche Bank. Companies around the world are pointing out that innovative new communication tools are making many journeys in the pre-pandemic era a thing of the past.

New reality
For example, consider Akzo Nobel, the largest paint maker in Europe. at its headquarters in Amsterdam; The company’s chief executive, Thierry Vanlanker, has spent the past year watching manufacturing manager David Prenslar, flapping his arms like wings and pointing excitedly, seeming to talk to himself, during “visits” to 124 factories through high-resolution augmented reality equipment used by employees inside the factories. . And therefore; It has become an easy task, which needed to travel by planes around the world before, as it can now be completed in a short time remotely, and without the hassle of traveling. For Vanlanker, there is no turning back.

“Business trips could go down by a third, and internal meetings even more so,” Vanlanker said in an interview. “It’s good for portfolios and helps our sustainability goals. Our clients have had a year of training, so video socialization is no longer an issue, in fact, there’s a huge efficiency factor in that,” he added.

A Bloomberg survey of 45 large companies in the US, Europe, and Asia shows that 84% of these companies plan to spend less on travel after the pandemic. The majority of respondents have already reduced their travel budgets by between 20% and 40%, with two out of three companies reducing both internal and external face-to-face meetings. The ease and efficiency of virtual software, cost savings, and lower carbon emissions were the main reasons cited for the cuts.

According to the Global Business Travel Association (GBTA); Spending on corporate travel could drop to $1.24 trillion by 2024, from a pre-pandemic peak of $1.43 trillion in 2019.

Virgin Galactic space plane grounded to investigate Branson’s flight

Islam-Makram

US aviation authorities will only allow travel for Virgin Galactic’s space plane after an investigation into whether the July 11 flight’s aberration threatened public safety.

The US Aviation Administration is reviewing the reasons why SpaceShipTwo flew outside the area it had designated for it during its space flight, which carried company founder Richard Branson and others, but the plane landed safely.

Glory to Bezos, the billionaire, and his peers who pioneered our launch into space

In an emailed statement, the FAA said: “Virgin Galactic cannot return the SpaceShipTwo to flight until the FAA has approved the final investigation report into the disruption, or has concluded that issues with it do not affect public safety. “.

Virgin Atlantic is considering a public offering in London next fall

The company said in an emailed statement that it was working with the Federal Aviation Administration to study a flight deviation that did not endanger passengers or the public. “We are taking this very seriously, are currently addressing the causes of the problem, and deciding how to prevent it from occurring on future flights… We have worked closely with the Federal Aviation Administration to support a comprehensive review and timely resolution of this issue,” she said in the statement.

Virgin Galactic shares fell 2.9% to $26.01 at the New York close on the FAA news.

Next flight
Virgin Galactic was planning its next space flight later this month or early October, and the company said in an earlier statement Thursday that it was decided that the research flight would include two members of the Italian Air Force, a flight engineer, and an employee of Virgin Galactic. Virgin declined to comment on whether the flight schedule, the company’s first commercial research mission, would be affected by the FAA’s decision.

The future of space is bigger than Bezos, Branson, and Musk

The Federal Aviation Administration regulates commercial spaceflight and establishes rules for protecting the public on the ground, which is not related to the flights, as well as protecting other aircraft in close proximity to launches. But Congress has prevented the administration from setting safety standards for crew members.

Branson’s spaceflight is a “marketing coup” for Virgin Galactic.

The New Yorker reported Wednesday that the flight was skewed due to the spacecraft being outside its optimal landing path. A craft usually floats into the atmosphere using devices designed to maintain its stability and reduce its speed.

The company said on the same day that the vehicle, which turns into a glider immediately after entering the denser air, flew under an area designated by the Federal Aviation Administration to prevent conflict with other aircraft, adding that the vehicle remained outside the protected area for one minute and 41 seconds, before returning to the field. Protected air for the rest of the flight.

“Although the final flight path deviated from our initial plan, it was a controlled and deliberate path, allowing Unity 22 to reach space and land safely at our spaceport in New Mexico,” the company said in a statement Wednesday.

Millennials are addicted to shopping through the $46 billion Klarna app

Ibrahim Elaidy

If you search for “Klarna” on the “Tik Tok” platform, you will find young people talking sarcastically about the debts they incurred using the popular “Buy Now Pay Later” app. Some dance as “debts in deferred” comment appears on the video, after footage of them using the Klarna app to shop and buy clothes. Others share videos of the company’s payment requests with the “I know you’re obsessed with me” comment from a remixed song.

Joila Luisa shared a video with the caption: “When you put on a new outfit and Klarna reminds you to pay for it.” Although she seems annoyed by the fact that she doesn’t like the bill to be paid, she can’t stop it. “In the past, when I didn’t have the money, I simply couldn’t shop. Now with” Klarna, I can do that.

Buy now, pay later
Postpay applications have a double-edged aspect to the concern of financial regulators. While young “fashion stars” on Tik Tok see the potential risk of taking on short-term debt through these apps when they pay off, the temptations are too great for them.

Credit rating companies express concern that this increasingly widespread financing option may encourage more reckless borrowing. The high demand for Klarna (average client age is 33) by millennials and Generation Z helped the company receive a valuation of $45.6 billion in the latest funding round led by Soft’s Vision Fund 2 Bank”.

Tesla plans to create an energy trading division to support battery and power generation projects

Marina Kamal

US electric car maker Tesla is looking for employees for its Energy Trading division to support its battery and renewable energy projects, according to the company’s website and an employee posting on job site LinkedIn.com.

The company has expanded operations to include solar electricity for homes and large battery storage facilities and most recently applied to begin marketing electricity in Texas.

“I am putting together a new team at Tesla focused on energy trading and market operations,” Julian Lamy, who describes himself as a senior software optimization engineer at Tesla, wrote in a LinkedIn post this week. Tesla did not immediately respond to a request for comment.

The company plans to use an automated trading platform built by itself, called Autobidder, to “offer batteries in several wholesale energy markets,” according to a job description on Tesla’s website.

Tesla is seeking a senior energy analyst who will work from Palo Alto, California, Lamy wrote in his LinkedIn post.

Last month, Tesla Energy Ventures filed an application with the Texas Public Utilities Commission to become a retail electricity provider.

Aston Martin is on track to achieve the highest annual sales percentage in 2021 after years of pitfalls

Malek Fahmi

A triple-digit sales increase this year didn’t save Aston Martin from a multi-million dollar profit loss, but the company is seeing a marked improvement, for the first time in a long time.

On August 24, the financial regulator announced that it had found no irregularities, following allegations of insider trading between Aston Martin Lagonda and Daimler AG. The investigation conducted by the German Federal Ministry of Finance, known as (BaFin), examined the purchase of a stake in “Aston Martin” by the head of “Formula 1” of Mercedes-Benz, as the relationship between the two brands caused a lot of suspicion in the sector, Daimler, the parent company of Mercedes, also owns a minority stake in Aston Martin.

This was a new victory for the prestigious British car manufacturer in the recent period, which comes after a long list of repeated failures, as the company has a long history of mismanagement over its 108-year history, which in turn led to 7 bankruptcies, the last of which was in 1974, and asked to close in 2014.

Also, a few years ago, the company’s products were just boring and flashy, one example being the 2018 DB11 Volante Carica. Also, we can’t forget the bad IPO, in which shares fell 6.5% on the first day, It fell 75% soon after.

few sales
To this day, the company’s association with James Bond continues, and Aston Martin sells less than 5,000 cars worldwide annually, a tiny fraction of the hundreds of thousands sold by Mercedes-Benz and Porsche. In 2020, Aston Martin sold 4,150 cars around the world, decreasing its sales by 32% compared to 2019.

But this year already looks better for the company, as Aston announced in July that its sales increased by 224% in the first half of 2021. The company sold 2,901 cars around the world in the first half of 2021, and more than half of its sales were Model D DBX sports utility vehicles, valued at $189,000. Aston Martin says it is on track to sell 6,000 vehicles by the end of 2021.

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