Latest news with #MedSpas
Yahoo
23-02-2025
- Business
- Yahoo
Saylor's Strategy Raises $2 Billion in Convertible Bond Sale
(Bloomberg) -- Michael Saylor's Strategy raised $2 billion from an issue of convertible debt after the Bitcoin treasury firm sweetened the terms for investors. It plans to use the proceeds for purposes including acquiring more of the digital token. Trump to Halt NY Congestion Pricing by Terminating Approval Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Child Migrant Watchdog Gutted in DOGE Cuts Chicago Council Delays $830 Million Bond Vote Amid Scrutiny The company, which until recently was called MicroStrategy Inc., priced the zero-coupon convertible senior notes due in 2030 with a 35% conversion premium, according to a statement on Thursday. The premium is in reference to the volume-weighted average price of $321.05 each at which it traded over a stretch of Wednesday afternoon. It came in below the 40% to 50% range the company had marketed earlier, Bloomberg News has reported. Strategy's stock rose 1.7% to $323.96 apiece in pre-market trading on Thursday. The shares fell 4.6% on Wednesday, the most in nearly a month. The stock has shed roughly 30% of its value from a November record, though it remains up more than 700% over the past three years. Strategy held 478,740 Bitcoin as of Feb. 17, or more than 2.5% of all the tokens that will ever exist, worth more than $46 billion. The volatility of Strategy shares has dropped in recent months. By one measure, the stock's 30-day volatility is now at less than half of its December peak, according to Bloomberg calculations. That could affect demand from some hedge funds that buy Strategy shares to set up trades incorporating purchasing the bonds and selling the shares short, essentially betting on the underlying stock's volatility. The offering of the convertible issue follows its move to raise more than $560 million in preferred stock at a steep discount last month. The company aims to raise $42 billion of capital through 2027 to fund Bitcoin purchases using at-the-market stock sales and fixed-income securities. The notes include a three-year put option, which gives holders the option to redeem the bond before it matures. Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
22-02-2025
- Business
- Yahoo
Berkshire's operating profit surges with boost from rates
(Bloomberg) — Berkshire Hathaway Inc.'s operating earnings surged 71% in the fourth quarter, as higher interest rates lifted the conglomerate's investment income and its insurance business improved. Operating earnings were $14.5 billion in the three months through December, Warren Buffett's Omaha, Nebraska-based conglomerate said Saturday in a statement. The increase was driven in part by a 48% jump in insurance investment income, to $4.1 billion, amid higher interest rates. The rise in earnings also got a significant boost from a strong recovery in the firm's insurance underwriting business, with operating earnings quadrupling over the period to $3.4 billion. GEICO was the main contributor to Berkshire's insurance results, with its pretax underwriting earnings more than doubling to $7.8 billion in 2024. The auto insurer successfully added new clients in the second half, reversing a years-long trend that previously weighed on its performance. Berkshire said it expects pretax losses of approximately $1.3 billion from the wildfires that ravaged entire parts of Los Angeles last month. Buffett's cash hoard grew for the 10th quarter in a row, to a record $334.2 billion at the end of 2024, as the billionaire continued to refrain from major stock transactions in the fourth quarter. In the period, the firm was a net seller of $6.7 billion worth of shares. The firm declined to buy back its own shares for the second quarter in a row, a sign that Buffett believes the stock trades above its intrinsic value. Berkshire's market capitalization has been hovering above $1 trillion since late last month. (Updates with additional figures and context starting in third paragraph.) Meet Seven of America's Top Personal Finance Influencers India's Most Reliable Retirement Plan: Selling Grandma's Jewelry Japan Perfected 7-Eleven. Why Can't the US Get It Right? The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory How Med Spas Conquered America ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
21-02-2025
- Business
- Yahoo
Merz Rules Out Tax Increases If Conservatives Win Sunday's Vote
(Bloomberg) -- German conservative frontrunner Friedrich Merz pledged that a government under his leadership wouldn't raise taxes to fund the hundreds of billions of euros of investment needed in areas like defense and infrastructure, saying it would be 'poison' for Europe's biggest economy. Trump to Halt NY Congestion Pricing by Terminating Approval Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Trump Targets $128 Billion California High-Speed Rail Project Child Migrant Watchdog Gutted in DOGE Cuts In one of his final public appearances before Sunday's national ballot, Merz told viewers of ZDF TV's 'Morgenmagazin' breakfast show that if he captures the chancellery as expected, he'd instead focus on cutting spending on social benefits and financial support for refugees. Loosening restrictions on government borrowing — enshrined in the so-called constitutional 'debt brake' — isn't a priority, he added. 'The most important bet on the future is that we marshal our strength to get this economy growing again,' Merz said. 'For companies and households, we'll rather have to ease the tax burden,' he added. 'But this is a task for the whole of the next parliament, it doesn't happen overnight by hitting a button.' Voter support for Merz's CDU/CSU bloc has held steady at around 30% throughout the three-month election campaign since Social Democrat Chancellor Olaf Scholz dismantled his ruling coalition in November and triggered the national ballot. The far-right Alternative for Germany is in second place at about 20%, with Scholz's SPD trailing in third at around 15% and the Greens fourth at 13%. Merz will need at least one coalition partner to secure a majority in parliament and the SPD and the Greens are his most likely options. Depending on the number of smaller parties that clear the 5% threshold for getting seats in the Bundestag, he may be forced into an unwieldy three-party alliance. The other three main candidates — Scholz, Robert Habeck of the Greens and AfD Co-leader Alice Weidel — are all appearing separately on 'Morgenmagazin' on Friday. This story was produced with the assistance of Bloomberg Automation. --With assistance from Chris Reiter. Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P.
Yahoo
20-02-2025
- Politics
- Yahoo
NY Governor Hochul Will Keep Mayor Adams in Office for Now
(Bloomberg) -- Governor Kathy Hochul doesn't plan to remove New York City Mayor Eric Adams for now, according to a person familiar with the matter. Trump to Halt NY Congestion Pricing by Terminating Approval Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Child Migrant Watchdog Gutted in DOGE Cuts Chicago Council Delays $830 Million Bond Vote Amid Scrutiny Hochul plans to announce the decision later Thursday, as well as new oversight of the Adams administration, said the person, who asked not to be named because the conversations are private. The governor plans to establish a state-level deputy inspector general position and give more legal power to non-mayoral officials such as the city comptroller to sue the federal government, according to the person. Hochul's decision was reported earlier by Gothamist and NY1. Calls for Adams to leave office intensified after a top official at President Donald Trump's Justice Department directed federal prosecutors in Manhattan to drop their pending bribery case against the mayor. Critics say the directive was a quid pro quo in exchange for the mayor's assistance in helping facilitate Trump's crackdown on migrants, which Adams and the Justice Department have both denied. Concern over Adams' relationship with Trump also sparked the planned departure of four of his deputy mayors, spurring Hochul this week to host meetings with fellow Democrats to discuss a path forward. Hochul has the power to remove the mayor, an action she said has not been taken by any governor in New York state's 235-year history. 'Overturning the will of the voters is a serious step that should not be taken lightly,' the governor said in a statement Monday night. 'That said, the alleged conduct at City Hall that has been reported over the past two weeks is troubling and cannot be ignored. Adams, 64, has refused calls to step down and is seeking reelection. He faces a host of challengers in the June 24 Democratic primary, including city Comptroller Brad Lander, former Comptroller Scott Stringer, Brooklyn state Senator Zellnor Myrie, Queens state Senator Jessica Ramos and former hedge fund manager Whitney Tilson. Former Governor Andrew Cuomo is also said to be considering a run. (Updates with plans to seek reelection in eighth paragraph.) Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America The Undocumented Workers Who Helped Build Elon Musk's Texas Gigafactory Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore ©2025 Bloomberg L.P.
Yahoo
20-02-2025
- Business
- Yahoo
Mozambique's Economy Shrunk Most in Seven Years on Vote Unrest
(Bloomberg) -- Mozambique's economy contracted the most in at least seven years in the fourth quarter, after post-election protests shuttered business activity. Trump to Halt NY Congestion Pricing by Terminating Approval Sorry, Kids: Disney's New York Headquarters Is for Grown-Ups Airbnb Billionaire Offers Pre-Fab Homes for LA Fire Victims Child Migrant Watchdog Gutted in DOGE Cuts Chicago Council Delays $830 Million Bond Vote Amid Scrutiny Gross domestic product declined 4.9% in the three months through December from a year earlier, compared with a 3.7% rise in the prior quarter, the National Statistics Institute said in an emailed statement Thursday. The slump was even bigger than one at the height of the Covid-19 pandemic in 2020. Months of deadly protests shook Mozambique's economy last year in the wake of a disputed Oct. 9 vote that extended the ruling party's five decades in power. The unrest hit government revenue, compounded a growing debt problem, and prompted S&P Global Ratings to downgrade the nation's long-term local currency credit to CCC- on Wednesday. Mozambique was among Africa's fastest-growing economies until a decade ago, when a $2 billion debt scandal tipped it into crisis that ended in default. An Islamic State-linked insurgency has also weighed on economic activity and delayed nearly $50 billion in natural-gas export projects from companies including TotalEnergies SE and ExxonMobil Corp. While Mozambique's post-election unrest has largely subsided, sporadic demonstrations continue in a fragile socioeconomic environment, S&P said, adding that the risk of a distressed domestic debt exchange is elevated. The ratings company said it understood that the government will soon meet commercial lenders to discuss the terms of a swap auction on local currency securities maturing this year. That could lead to S&P assessing the credit as 'SD' — or selective default — if it's akin to a distressed debt exchange, the company said. Japan Perfected 7-Eleven. Why Can't the US Get It Right? How Med Spas Conquered America Before DeepSeek Blew Up, Chatbot Arena Announced Its Arrival Elon Musk's DOGE Is a Force Americans Can't Afford to Ignore The Startup That Stepped In When the Baby Formula Supply Chain Broke ©2025 Bloomberg L.P.
