chek't
tybs
>>91639 pb
Whoever dis wuz leaving SFO last night went to London
BOXER41 USAF C-40C (was BOXER42 on departure from San Francisco int'l last night) arrived at Stansted Airport (London) after a ground stop and refuel at Keflavik AB Iceland
EXEC1F USAF C-32A departed JBA wn-Flauxtus to Milwaukee, WI first and Des Moines, IA after
Jill Biden to travel to Wisconsin and Iowa
Jill Biden will travel to Milwaukee, Wisconsin, and Des Moines, Iowa on Wednesday. First Lady Jill Biden will visit the Marvin E. Pratt Elementary School in Milwaukee to highlight the importance of keeping students safe as they return to in-person learning. Later flying to Iowa, the First Lady will join Rep. Cindy Axne at Des Moines Area Community College to highlight how the Biden Administration is supporting families through the American Rescue Plan and its Build Back Better agenda.
https://www.kaaltv.com/iowa-news/first-lady-jill-biden-wisconsin-iowa/6236260/
China's "Lehman Moment" Arrives On 13th Anniversary Of Lehman Bankruptcy: Beijing Tells Banks Evergrande Won't Pay Interest
Yesterday, when covering the non-stop drama surrounding China's most insolvent property developer, Evergrande, we said that it would be remarkably ironic if Evergrande were to announce a default - which everyone knows is coming - today, on the 13th anniversary of Lehman's bankruptcy filing on Sept 15, 2008.
Evergrande should fold on Lehman day (tomorrow)— zerohedge (@zerohedge) September 14, 2021
Well, in this delightfully absurd world we live in, that's just what happened only instead of Evergrande making the announcement, it was the entity that will soon control the massively overlevered property developer that made it for them: the Chinese government.
According to Bloomberg, Chinese authorities told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, which takes the cash-strapped developer a step closer the nation’s largest modern-day restructurings, and guarantees that China's "Lehman Moment" is now just a matter of days, if not hours.
According to Bloomberg, citing unnamed sources, the Ministry of Housing and Urban-Rural Development told banks in a meeting this week that Evergrande won’t be able to pay its debt obligations due on Sept. 20, and instead most of Evergrande’s working capital in now being used to resume construction on existing projects, the housing ministry told bankers, according to a Bloomberg source.
And since nonpayment of interest and principal will represent an event of default, the company is unlikely to make any subsequent interest, or principal, payments either since it will have already default even though Bloomberg claims that "Evergrande is still discussing the possibility of getting extensions and rolling over some loans." It won't, especially since the developer will also miss a principal payment on at least one loan next week, which means it's game over.
Meanwhile, as reported previously, Chinese authorities are already laying the groundwork for a debt restructuring of the $300 billion company (which recently hired Houlhan Lokey to advise it during the upcoming historic bankruptcy), assembling accounting and legal experts to examine the finances of the group. With senior leaders in Beijing silent on whether they will allow Evergrande creditors to suffer major losses, bondholders have priced in slim odds of a rescue infuriating countless investors and creditors who have mobbed the company's offices across the country and also gathered at its HQ, demanding the company "return their money." It won't happen.
It’s unclear whether Evergrande, founded by billionaire Hui Ka Yan, intends to pay about $84 million of dollar-bond interest due Sept. 23. We doubt it: according to Bloomberg, Guangdong officials have turned down at least one bailout request from Hui, who owns a controlling stake in the developer.
The company’s complex web of obligations to banks, bondholders, suppliers and homeowners has become one of the biggest sources of financial risk in the world’s second-largest economy.
China banks and property firms tumbled after Bloomberg reported the delayed payments, while Evergrande dollar bonds and shares hit session lows Wednesday afternoon, after Bloomberg's report, as bond investors are bracing for missed payments and as Moody’s and Fitch both downgraded Evergrande this month, citing an increasing likelihood of default. The Firm’s 8.75% note due 2025 fell 1.6 cents on the dollar to 25.8 cents as of 2:27pm in Hong Kong, according to Bloomberg-compiled prices. The 8.25% dollar bond due 2022 dropped 1.4 cents to 25.3 cents, on pace for record closing low. Shares fell as much as 6.1% to their lowest since January 2014. As noted on Monday, Evergrande’s failure to meet its obligations on time has led to protests across China by homebuyers, retail investors and even the developer’s own staff, raising the prospect of social unrest if the property giant’s troubles spin out of control. The company said on Tuesday if it’s unable to repay debts on time or get creditors to agree to extensions or alternative arrangements, it may lead to cross-default.
Whether the selloff drags down the broader credit market may depend on the company’s ability to buy time with banks, as well as the overall state of the Chinese economy. A messy default on loans could stoke fears of widespread contagion, something Xi Jinping’s government has been keen to avoid even as it tightens financing restrictions on overstretched developers and discourages government bailouts.
moar
https://www.zerohedge.com/markets/chinas-lehman-moment-arrives-13th-anniversary-lehman-bankruptcy-beijing-tells-banks
>>91266 pb China Evergrande warns of further property sales drop, liquidity crunch
>>91269 pb Evergrande Hires Advisers to Assess Capital Structure
o7
GOZER84 USAF E-4B Nightwatch departed Davis-Monthan AFB last night back to Lincoln Muni and then south to Dyess AFB.
The recent call signs of dis AC
MCFLY85, BUELR86, CHUNK85, ZOLTR88 and nao GOZER84 for Ghostbusters
Microsoft Hikes Dividend and Unveils $60 Billion Stock Buyback Program
Expanding its program for returning capital to shareholders, Microsoft late Tuesday said its board voted to both boost its quarterly dividend and adopt a new share repurchase program.
Microsoft (ticker: MSFT) raised its quarterly dividend rate by 11%, to 62 cents from 56 cents. It was the 12th straight year that the company has boosted its quarterly payout following its September board meeting. The new rate gives the company a yield of 0.8%. The hike follows increases of 10% last year and 11% in 2019. The company also announced a new $60 billion stock repurchase program, with no specific expiration date.
Microsoft also said its board has appointed President Brad Smith to the added role of vice chair. “This reflects the unique leadership role that Brad plays for the company, our board of directors and me, with governments and other external stakeholders around the world,” Microsoft CEO and Chairman Satya Nadella said in a statement.
https://www.barrons.com/articles/microsoft-hikes-dividend-and-unveils-60-billion-stock-buyback-program-51631662051
morning B
you prolly got dat one already.
North Korea's missiles landed in Japan's EEZ: Defense minister
North Korea fired two ballistic missiles into the Sea of Japan on Wednesday, South Korea's military said, raising regional tensions just days after the isolated nation said it tested a cruise missile.
The missiles are believed to have landed in Japan's exclusive economic zone, Japanese Defense Minister Nobuo Kishi told reporters, correcting an earlier statement by the Japan Coast Guard that said the projectiles had missed the area. They would be the first North Korean missiles to land in Japan's EEZ since October 2019.
The launch of ballistic missiles "threatens the peace and security of our country and the region and is outrageous. We strongly protest and condemn it," Japanese Prime Minister Yoshihide Suga told reporters in Tokyo. He added that the launch violated United Nations Security Council resolutions, and instructed relevant ministries and agencies to collect and analyze information on the launches.
Washington assessed that while the tests do "not pose an immediate threat to U.S. personnel or territory, or to our allies, the missile launch highlights the destabilizing impact of the DPRK's illicit weapons program," according to a statement by the U.S. military's Indo-Pacific Command.
"We remain committed to a diplomatic approach to the DPRK and call on them to engage in dialogue," said a U.S State Department spokesperson, who condemned the launch. "Our commitment to the defense of the Republic of Korea and Japan remains ironclad."
South Korea's Joint Chiefs of Staff said the missiles flew about 800 km with a maximum altitude of 60 km. The firings the first of ballistic missiles since March follow Pyongyang saying it carried out successful tests of a new long-range cruise missile over the weekend. Neither the U.S., Japan or South Korea have yet provided details of the missile that analysts see as possibly the country's first such weapon with a nuclear capability.
The launch came while Sung Kim, the U.S. special envoy for North Korea, was in Tokyo for talks with Japanese and South Korean counterparts. Chinese Foreign Minister Wang Yi is also in Seoul for dialogue with his opposite number there. Denuclearization talks between North Korea and the U.S. remain stalled.
https://asia.nikkei.com/Spotlight/N-Korea-at-crossroads/North-Korea-s-missiles-landed-in-Japan-s-EEZ-Defense-minister
kek
Monte dei Paschi prepares to close 50 branches - letter to unions
Monte dei Paschi di Siena is preparing to close 50 branches in line with commitments taken with European Union authorities under its restructuring plan through 2021, according to a copy of a letter the state-owned bank sent to unions.
The letter dated Sept. 15 seen by Reuters said the branch closures would lead to cutting 70 staff out of a total of 843 affected by the decision. Monte dei Paschi had no comment. Italy’s Treasury, which owns 64% of Monte dei Paschi following a bailout in 2017, is discussing a sale of the Tuscan bank to UniCredit. In announcing the exclusive negotiations at the end of July, UniCredit CEO Andrea Orcel had said a decision could be expected by mid-September, but sources close to the matter say reaching an accord is complex and will require longer. UniCredit has agreed to consider taking on only “selected parts” of Monte dei Paschi to boost its presence in the Tuscany, Veneto, Lombardy and Emilia Romagna regions.
https://www.reuters.com/article/monte-dei-paschi-branches/update-1-monte-dei-paschi-prepares-to-close-50-branches-letter-to-unions-idUSL8N2QH4I4
Qatar AF LHOB247 C-17 se from Brescia Airport, Italy after arriving on 0913
Back to Al Udeid AB
Qataris been going here wif the C-17s lately.....
Swiss AF SUI511 Pilatus OC-24 on ground at Lugano Airport from Hamburg ground stop
Departed Tampere Airport , Norway earlier today and had a ground stop at Bern, Switzerland then nw to Ramstein AFB for about an hour and on to Hamburg
Two More UK Energy Firms Go Bust Amid Record Power Prices
Two more energy suppliers have gone bust, leaving 500,000 customers needing a new provider, amid record prices for electricity and gas. Both Utility Point and People’s Energy have ceased trading, Ofgem has announced, the sixth and seventh energy companies to do so this year. Bournemouth-based Utility Point provided power to 220,000 customers, while London’s People’s Energy had 350,000 customers. The energy watchdog will now appoint a new supplier to take on the households after the market failures.
Last week PfP Energy and Moneyplus Energy both confirmed they were also ceasing to trade, leaving another 100,000 customers needing a new supplier. The spate of failures comes amid a record spike in energy prices due to a combination of low wind power and global gas shortages. The price hikes are expected to lead to household energy bills increasing until 2022, which could see yet more suppliers go out of business. Neil Lawrence, director of retail at Ofgem, said: “Although the news that a supplier going out of business can be unsettling, Utility Point and People’s Energy customers do not need to worry. Under our safety net we’ll make sure your energy supplies continue. “If you are a domestic customer with credit on your Utility Point or People’s Energy account this is protected and you will not lose the money that is owed to you.”
https://oilprice.com/Latest-Energy-News/World-News/Two-More-UK-Energy-Firms-Go-Bust-Amid-Record-Power-Prices.html
Swiss AF SUI526 Pilatus PC-24 on descent for Bern from it's Lugano ground stop
Texas letting Musk (Tesla) trade energy
Bad idea
Telling ya mang..Andy Fastow is STILL available for dis.
kek
Elon Musk Tells Texas to Come and Take It! (His Electricity)
Tesla Energy Ventures—that just filed with Texas’s Public Utility Commission to sell electricity straight to the residents in the state. Details on the project, which was formally registered on Aug. 17, are pretty thin right now; but we know that it’ll be helmed by Tesla’s director of regulatory credit trading Ana Stewart, and flanked by its current lead of energy and charging products, Rohan Ma.
https://gizmodo.com/elon-musk-tells-texas-to-come-and-take-it-his-electri-1847571898
SAM285 USAF G5 KAF AC of interdast (this AC transported Shrub around on 911) departed Miami Int'l ne after a ground stop
Departed JBA on 0913 for Miami Int'l then headed se and dropped from da scope to reappear earlier today inbound to Miami-dunno where it went after departing Miami se on 0913
>>91568 pb
02-5001 USAFSOC C-32B on final at Ali Al Salem AB Kuwait from Stuttgart Int'l
Usually these are not visible for very long after leaving Europe heading to the Gulf.
McAfee Corp. sold by Intel Corp.:$209.85m-Sept 14
Intel cashing in
McAfee Corp. Launches Public Offering of Common Stock
McAfee Corp. Launches Public Offering of Common Stock
September 07, 2021 04:58 PM Eastern Daylight Time
SAN JOSE, Calif.(BUSINESS WIRE)McAfee Corp. (“McAfee”) (NASDAQ: MCFE) today announced that it has commenced an underwritten public offering of 20,000,000 shares of its Class A common stock by certain selling stockholders (the “Selling Stockholders”) pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission (the “SEC”). The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. The underwriters will have a 30-day option to purchase up to an additional 3,000,000 shares from the Selling Stockholders. McAfee will not receive any proceeds from any sale of shares being sold by the Selling Stockholders.
Morgan Stanley and Goldman Sachs & Co. LLC are acting as lead book-running managers and representatives of the underwriters for the offering. TPG Capital BD, LLC is also acting as lead book-running manager. BofA Securities and Citigroup are acting as joint bookrunners in the offering. The proposed offering will be made only by means of a prospectus.
https://www.businesswire.com/news/home/20210907005891/en/McAfee-Corp.-Launches-Public-Offering-of-Common-Stock
McAfee Corp is a cybersecurity company. The Company's operates Consumer segment, which provides security solutions for consumers. Its personal protection service provides digital protection of the individual and family under the Total Protection and LiveSafe brands. The personal protection services offer device security, online privacy and comprehensive Internet security, and identity protection. Device security services includes its anti-malware software and secure home platform products, which enables consumer devices, including mobile and home-use, protected from viruses, ransomware, malware, spyware and phishing. Online privacy and comprehensive Internet security services includes its Safe Connect virtual private network (VPN), TunnelBear and WebAdvisor products. Identity Protection includes Identity Theft Protection and Password Manager products. Number of employees : 6 916 people.
https://www.marketscreener.com/quote/stock/MCAFEE-CORP-114013521/company/
https://finviz.com/insidertrading.ashx?oc=1829641&tc=7&b=2