Bitcoin is becoming the true digital gold we've been talking about: Lightspark CEO David Marcus
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Yahoo
15 minutes ago
- Yahoo
Eli Lilly Taps High-Grade Market With Rare 40-Year Paper
(Bloomberg) -- Eli Lilly & Co. is tapping the US investment-grade debt market with a deal that's expected to include a 40-year bond, a rarity in a market characterized by high borrowing costs. The drugmaker is selling debt in as many as seven parts, with 40-year tranche set to yield 0.73 percentage point above Treasuries, according to a person familiar with the matter. Initial price discussions called for a yield in the area of 1.05 percentage points above the benchmark. A Photographer's Pipe Dream: Capturing New York's Vast Water System Festivals and Parades Are Canceled Amid US Immigration Anxiety A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds The deal is also expected to include a 30-year portion, as well as maturities ranging from 3 years to 10 years, the person said, asking not to be identified discussing private information. The offering comes amid a dearth of supply of long-dated corporate bonds: Just 11% of high-grade debt sold this year had a maturity of 30 years or more, down from 15% in 2024, as companies have been reticent to lock in elevated borrowing costs for long periods of time. Eli Lilly is one of nine companies selling US high-grade debt on Monday, with McDonald's Corp., Marriott International Inc. and Charter Communications Inc. among the others. Borrowers are piling in ahead of a seasonal slowdown later this month. They're also taking advantage of more favorable funding conditions: Yields this month are sitting consistently below 5% for the first time this year, yet demand continues to be robust. Most recently, investment-grade order books grew to more than five times the size of fresh supply on Wednesday, while borrowers paid just two basis points in new-issue concessions — both better than average so far this year. Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Mizuho Financial Group Inc. and Morgan Stanley are managing Eli Lilly's sale, with proceeds earmarked for general corporate purposes. The bonds are expected to be rated Aa3 by Moody's Ratings and A+ by S&P Global Ratings. Issuer Profile Debt distribution: LLY US Equity DDIS Capital structure: LLY US Equity CAST Related securities: LLY US Equity RELS Ratings history: LLY US Equity CRPR --With assistance from Michael Gambale and Boris Korby. (Updates with guidance numbers in second paragraph.) Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Americans Are Getting Priced Out of Homeownership at Record Rates Living With 12 Strangers to Ease a Housing Crunch Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
17 minutes ago
- New York Post
FTC sues ticket reseller for using bogus Ticketmaster accounts to evade Taylor Swift's Eras tour ticket limits
Federal Trade Commission sued ticket reseller Key Investment Group for evading purchasing limits to buy up thousands of tickets to live events including Taylor Swift's Eras tour and resell them at a markup, according to a complaint filed in Maryland federal court on Monday. The Baltimore, Md.-based company, which operates ticket resale sites including used thousands of Ticketmaster accounts, including fake or purchased accounts, the FTC said. Ticketmaster faced intense criticism after its botched 2022 sale of tickets to Swift's much-hyped New Eras Tour, when billions of requests from Swift fans, bots and ticket resellers overwhelmed its website and the company canceled a planned ticket sale to the general public. Ticket reseller Key Investment Group, which operates ticket resale sites including used thousands of Ticketmaster accounts, including fake or purchased accounts, the FTC said. AP For one Swift concert, Key Investment Group used 49 different accounts to purchase 273 tickets and evade a 6-ticket purchase limit, the FTC said on Monday. FTC Chairman Andrew Ferguson said in a statement that the lawsuit puts ticket sellers on notice that the agency will go after those who circumvent ticketing platforms' limits on ticket sales. The lawsuit is part of a crackdown President Trump announced in March focused on curbing exploitative ticket reselling practices that raise costs for fans. Key Investment Group sued the FTC in July to block its investigation, saying that its ticket purchases did not use automated software, or bots, and did not violate the Better Online Ticket Sales (BOTS) Act. The lawsuit is part of a crackdown President Trump announced in March focused on curbing exploitative ticket reselling practices that raise costs for fans. AP The FTC has made it clear that 'they intend to use the BOTS Act to shut down the entire secondary-ticket market,' the company said in its lawsuit. The agency on Monday accused Key Investment Group and three of its executives of violating the BOTS Act as well as the FTC Act, which prohibits unfair and deceptive business practices. Ticketmaster and its parent company, Live Nation Entertainment, are facing a lawsuit brought by US antitrust enforcers accusing the company of monopolizing markets across the live concert industry.
Associated Press
25 minutes ago
- Associated Press
Bitcoin Tipping Is Now Live on X, Powered by BitBit and Spark
LOS ANGELES (CA), 8/18/2025 - BitBit, the self-custodial social wallet that lets users instantly send and receive Bitcoin directly in their browser, today announced the launch of its X (formerly Twitter) integration, enabling users worldwide to exchange Bitcoin tips on the platform seamlessly. The payments will be associated with X usernames, allowing anyone to receive them, even without a wallet. The integration leverages Spark,the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on Bitcoin. Spark is built by Lightspark, providing open, always-on payments solutions for the Internet powered by Bitcoin: the only open, neutral network for moving value. Lightspark powers integrations with partners such as Coinbase, NuBank, Bitso, and many more to enable payments on Bitcoin. 'At Lightspark, we're working tirelessly to ensure the future of money looks like the open Internet,' said David Marcus, Lightspark's co-founder and CEO. 'Spark is built on Bitcoin because it's the only open, neutral network for moving value. By choosing Spark, the BitBit wallet builds on this openness and proves Bitcoin's potential to empower creators and the global X community.' While tips have been available on X since 2021, this is the first self-custodial tipping solution available to the public. By leveraging Spark, the fastest, cheapest, and most UX-friendly way to build financial apps and launch assets on Bitcoin, the solution eliminates the technical friction and complexity associated with scaling solutions like the Lightning Network, providing users with a seamless and intuitive wallet experience. Tip receivers will have 21 days to create a wallet to receive the money; otherwise, a refund transaction will automatically be sent back to the sender. 'It's very important to meet people where they are rather than assume they will learn how to use new technologies,' said Felipe Servin, Founder and CEO of BitBit. 'With over 500 million people already using X and most of the Bitcoin-focused conversations happening there, this is the ideal place to integrate Bitcoin payments for the general public.' The extension is now live for all Chrome-compatible browsers, with mobile support and stablecoin integrations coming very soon. Install it here: About Spark Spark is the fastest, cheapest, most UX-friendly way to build financial apps and launch assets on Bitcoin. We're building the Bitcoin internet. Follow on X @spark About BitBit BitBit is a self-custodial social Bitcoin wallet that lets users send and receive Bitcoin and stablecoins right directly in their browser. Powered by Spark, a next-gen Bitcoin Layer 2, BitBit integrates directly with X usernames for frictionless tipping, payments, and community engagement, all without sacrificing privacy or control of funds. To learn more about BitBit, visit Press Contact [email protected]
