SAM812 USAF G5 departed JBA to the west
82-8000 USAF 747 heading back to JBA from Harrisburg Int'l fly bys
Group 'o C-130s departed McGuire AFB sw
2 More Chinese Firms Pull US IPO Plans Amid Fallout From Didi Disaster
Less than a week after Beijing pulled off its egregious rug-pull of the Didi IPO - after which the world learned that Beijing had 'suggested' to the company's management that the CCP wasn't entirely comfortable with their plans to list in the US - more Chinese firms are abandoning plans to list in New York as the world wonders whether the US has seen the last listing of a Chinese company. Following reports from earlier this week claiming TikTok-owner ByteDance had decided to abandon plans to list in the US in favor of listing in Hong Kong, two more Chinese firms called off their US IPOs on Thursday. They include Alibaba-backed LinkDoc and SoftBank- and Tencent-backed fitness app Keep.
LinkDoc had planned to raise up to $210MM on the Nasdaq, but it closed its book on Wednesday despite reportedly strong demand. However, Nikkei reported that "market volatility, regulatory uncertainty and fear of angering Chinese regulators have prompted the company to cancel the offering, one of the people said. The company had been expected to price the deal today, which means it would have likely started trading some time next week.
On Wednesday, LinkDoc updated its prospectus to cite new risks from Beijing, in what was perhaps a hint that the deal would soon be pulled. According to anonymously-sourced whispers, LinkDoc, a provider of cancer-focused health care services using big data and artificial intelligence, had planned to sell 10.8MM shares priced between $17.50 and $19.50 each. Including the $4.4 billion raised by Didi, a total of 36 Chinese companies have sold shares in New York this year, raising a total of $12.6 billion, according to Dealogic. This marks the fastest start to a year for Chinese deal flow; Chinese firms raised just $2.8 billion in the same period last year. Later in the morning, the FT reported that Keep, which had been expected to raise up to $500MM, has told its bankers at Morgan Stanley that it would cancel its plans to meet with potential investors this week, according to anonymous sources familiar with the deal. Additionally, the FT confirmed earlier reports that Ximalaya, a podcasting platform (which has courted some controversy of its own), had recently canceled its IPO, apparently before the Didi rug-pull which suggests it may have decided to cancel or delay those plans for other reasons.
Beijing warned earlier this week that it would no longer tolerate overseas listings as it pushes domestic firms to list in Hong Kong or domestically. The crackdown on Didi and two other post-IPO Chinese firms was said to be tied to their handling of Chinese consumer data, which is now subject to strict laws requiring companies to keep the physical data in the country. Keep is the latest disaster for SoftBank, which is suffering heavy losses as many of its portfolio companies (including Alibaba) have tumbled in the aftermath of Didi's troubles. Keep was valued at $2 billion in its latest SoftBank-led funding round. SoftBsnk is also a major shareholder in Didi. The firm is also an investor in ByteDance, which has also reportedly scrapped plans to list in the US. The crackdown is being led by the Cyberspace Administration of China, a regulator created by President Xi Jinping during his first term in office. Media outlets have been scrambling to offer readers and explanation of what the regulator does and how it works, seeing as it's now apparently playing a major role as a gatekeeper of Chinese firms (Nikkei published a lengthy explainer here). WSJ's report on the agency offered some new details about the "miscommunication" that preceded Didi's listing. While the CAC and some others reportedly suggested to Didi that it might want to reconsider, other regulators - including the country's main economic and financial regulators - reportedly encouraged Didi to press ahead.
Bottom line: the CAC has been tasked with cementing the CCP's control over the private corporate sector including - and especially - technology firms. Chinese law says data collected from social media, e-commerce, lending and other private business activities is a "national asset" and must be safeguarded.
https://www.zerohedge.com/markets/2-more-chinese-firms-pull-us-ipo-plans-amid-fallout-didi-disaster
EXEC1F USAF C-32A departed JBA for Orlando and will need to go around the weather just to the south prior to vectoring to Orlando
Jill Biden attending National Spelling Bee
https://www.wnct.com/news/national/first-lady-jill-biden-attending-national-spelling-bee/
werd.
reality not allowed for many gamers.
Not all like dat but many are.
Muh fam would not allow the actual console at home otherwise that all we woulda done.
Had plenty of the games (Atari, Colleco..etc.) but had to go to frens house to use.
The PC-based stuff that came in 90's never interested me and still doesn't
Plenty o other shit to do
But if some enjoy that all good too.
State Attorney General Files Suit Charging Wall Street Mega Banks with “Multi-Year Bid Rigging and Price Fixing” Conspiracy in Credit Default Swaps Market
Last week the New Mexico Attorney General’s office filed a breathtaking, 128-page anti-trust lawsuit in federal court in New Mexico on behalf of the state’s $31 billion investment fund, the New Mexico State Investment Council. The Council manages a permanent endowment along with money for 23 state agencies.
The lawsuit alleges, backed by striking evidence, that the following banks have engaged in a 16-year conspiracy of “bid rigging and price fixing” in the Credit Default Swap (CDS) market: Bank of America/Merrill Lynch; Barclays; BNP Paribas; Citigroup; Credit Suisse; Deutsche Bank; Goldman Sachs; JPMorgan Chase; Morgan Stanley; and RBS.
The lawsuit also names a swaps trade association, the International Swaps and Derivatives Association (ISDA), as a defendant, noting that a “majority of ISDA’s board members” are employed by the bank defendants. The lawsuit characterizes ISDA as a “front organization.” Two other companies involved in the allegedly rigged Credit Default Swap protocol are also named: Creditex and Markit. The lawsuit draws attention to the fact that “Until mid-2014, Markit was majority-owned and controlled by a consortium of approximately 16 investment banks,” including each of the bank defendants (along with HSBC and UBS) who sat on its board of directors. As fascinating as the details of the alleged price fixing are in the lawsuit, equally fascinating is the name of the outside law firm that is representing the plaintiff, the New Mexico State Investment Council. That law firm is Kirby McInerney, which has a history of representing whistleblowers in frauds committed by Wall Street miscreants. The law firm’s name jumped out at us because the extremely intimate and comprehensive details of how this alleged fraud was conducted, as outlined in the lawsuit, sounds uncannily like the work of an insider who is now blowing the whistle.
The general outline of the conspiracy is described as follows in the lawsuit:
“Since 2005, the Wall Street banks that comprise the major dealers of credit default swaps (‘CDS’) have been engaged in a conspiracy to manipulate the CDS ‘final auction price,’ the benchmark price used to value all CDS contracts market-wide at settlement. The final auction price is generated through an auction process that was introduced to the market by the Dealers in 2005. The Dealers – Bank of America/Merrill Lynch, Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley, and RBS…have implemented this conspiracy by using their power over the CDS auction process to rig the CDS auctions and produce a (typically) supra-competitively low CDS final auction price. Working with three entities over which the Dealers yield significant power and influence – Creditex, ISDA, and Markit (together, with the Dealers, the Defendants) – the Dealers’ conspiracy has yielded them billions of dollars in cartel profits at the expense of non-dealer market participants like Plaintiff and the putative Class members.”
Most Wall Street veterans believe that the Commodity Futures Trading Commission and the Securities and Exchange Commission exercise oversight of the Credit Default Swap market, along with all other derivatives. But the lawsuit delivers this shocking revelation: “The CDS auction process slips through this patchwork of regulatory oversight. The auction is the settlement mechanism for single-name, index, and mixed swaps, but the auction process itself is not a swap, and no single regulator has ever asserted oversight or regulatory authority over the CDS auction process. The result is a regulatory failure that overlooks the CDS auctions and the anti-competitive conduct that takes place within them.”
moar
https://wallstreetonparade.com/2021/07/state-attorney-general-files-suit-charging-wall-street-mega-banks-with-multi-year-bid-rigging-and-price-fixing-conspiracy-in-credit-default-swaps-market/
Blythe Masters and Jamie Dimon all you need to know here.
Purdue signs deal on opioid settlement with 15 states
Fifteen US states have dropped their opposition to a bankruptcy plan for Purdue Pharma, clearing the way for a multi-billion dollar settlement.
It marks the first step towards the OxyContin painkillers maker paying out $4.3bn (£3.1bn) to settle cases related to the opioid crisis. The New York attorney general said the funds would be used to "prevent any future devastation". A total of 10 states still oppose the proposals of pharmaceutical giant. A spokesperson for Purdue Pharma said it would work to "build a greater consensus" for its bankruptcy plan. They added it would "transfer billions of dollars of value into trusts for the benefit of the American people...who have been affected by the opioid crisis".
In 2020, Purdue entered a guilty plea on criminal charges relating to its promotion of Oxycontin, which it knew was addictive. Those charges included defrauding health agencies and of making illegal payments to doctors. The company filed for bankruptcy a year previously, saying it would restructure and help tackle addiction. Reports filed in a New York court on Wednesday showed that 15 states, including New Jersey and Massachusetts, had reached an agreement with Purdue that would see its owners, the wealthy Sackler family, pay an additional $50m.
As part of the deal, the firm will also release millions of documents on its role in the opioid epidemic. Under the agreement, the Sackler family would also have to give up control of their foundations to the trustees of a national opioid-related charity. The firm did not admit liability or wrongdoing in settling with the state, although it must stop selling painkillers nationwide.
https://www.bbc.com/news/business-57770557
EXEC1F USAF C-32A on final at Savannah Int'l GA
But first we need to pimp moar vaccines..then to the Spelling Bee in Orlando
Jill Biden to speak Thursday at Chatham COVID clinic at Beach High School
https://www.savannahnow.com/story/news/2021/07/07/first-lady-jill-biden-tour-covid-vaccination-clinic-savannah-ga-raphael-warnock-beach-high-school/7889597002/
hahahaha