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Red Lobster seeks bankruptcy protection with $100 million in financing commitments

(Reuters) – U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing $100 million in financing commitments from its existing lenders, the company said on Sunday. The company listed its assets and liabilities to be between $1 billion and $10 billion, according to a court filing. Red …

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Venture capital investment in crypto picks up after long decline

By Elizabeth Howcroft LONDON (Reuters) – Global venture capital investment in crypto companies rose to $2.4 billion in the first three months of 2024, data showed on Monday, in a tentative sign that investor interest is returning. Crypto venture capital flows peaked at $11.1 billion in the first quarter of 2022, before seven consecutive quarters …

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Star Entertainment says Hard Rock-led group weighs bid, shares surge

By Himanshi Akhand and Rishav Chatterjee (Reuters) -Star Entertainment said on Monday a consortium led by Florida-based Hard Rock Hotels & Casinos is considering a bid for the cash-strapped Australian firm, sending its shares 20% higher. A potential takeover by entertainment giant Hard Rock would provide a much-needed financial lifeline to Star, which has been …

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Venture capital funding in crypto rises to $2.4 billion, Pitchbook says

By Medha Singh (Reuters) – Crypto startup funding rose for a second straight quarter to hit $2.4 billion in the first three months of 2024, Pitchbook data showed, as expectations of lower interest rates and the debut of the first U.S. bitcoin spot ETF whetted investor appetite. Funding was spread across 518 deals and rose …

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US lukewarm on G7 Russian diamond ban after industry backlash

By Julia Payne and Dmitry Zhdannikov BRUSSELS/LONDON (Reuters) -The United States is re-evaluating the strictest elements of a ban on Russian diamonds from the Group of Seven major democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources said. The sanctions package, agreed in December and including a ban across …

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US regulators reconsider capital hike for big banks, WSJ reports

(Reuters) -The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country’s biggest banks following lobbying efforts by industry CEOs like JPMorgan Chase’s Jamie Dimon, the Wall Street Journal reported on Sunday. Required increases in capital for banks …

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Analysis-Endeavor’s $13 billion deal highlights push to sidestep minority shareholders

By Anirban Sen and Tom Hals (Reuters) -Endeavor Group’s decision to deny minority shareholders the ability to veto a $13 billion deal to take the entertainment conglomerate private is the latest example of a company’s controlling investors risking lawsuits to avoid paying a higher deal price. At stake is a corporate governance safeguard that reassures …

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Boeing Starliner’s debut crewed flight delayed again to check helium leak

WASHINGTON (Reuters) – NASA and Boeing delayed the launch of Boeing’s Starliner crew capsule again on Friday, giving them four more days to assess a helium leak before attempting to launch the spacecraft’s first two astronauts into space, the space agency said Friday. Starliner’s liftoff from Florida has been delayed several times in May and …

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