From Breakingviews - Winklevoss twins take strike two with crypto hype
Entrepreneurs Tyler and Cameron Winklevoss arrive at the Metropolitan Museum of Art Costume Institute Gala in New York, May 2, 2016. REUTERS/Lucas Jackson/File Photo/File Photo
Gemini claims it gave nearly $1 billion of its own customers’ money to Genesis to lend, hoping Genesis could help fuel 7%-plus returns that had been promised to investors. Genesis, which filed for bankruptcy in January after making some risky bets, still owes creditors, including Gemini, over $3 billion, according to court filings.
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Breakingviews - China car price truce skids off road at first bendSo much for an end to big discounts on new vehicles in China. On Saturday the China Association of Auto Manufacturers (CAAM) reversed out of the pledge it had brokered just two days earlier with Tesla and 15 domestic carmakers to curb a debilitating price war in which some models were being sold for 20% or more below their sticker price. It leaves plenty of egg on a lot of faces.
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Breakingviews - How to crack the climate free rider problemWhy are the world’s governments fiddling while the planet burns? Can’t the United States’ politicians smell the smoke from wildfires in Canada? Can’t Chinese leaders feel the scorching heat in Beijing? Don’t Europe’s prime ministers and presidents see that parts of the Rhine risk being unnavigable in the coming weeks as water levels fall perilously low?
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Breakingviews - Thames rescue looks far from watertightThames Water is stepping back from the brink, a little bit. The UK government has been considering options to place the indebted utility into administration, if it can’t raise funding. Shareholders, led by Canada’s Ontario Municipal Employees Retirement System, have now agreed to pony up 750 million pounds. They’ve also acknowledged even more will be allowed over the next regulatory review period between 2025 and 2030.
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Breakingviews - Bayer crop spinoff would be tricky but bountifulBayer’s new CEO may be considering some valuable crop rotation. The 49 billion euro seed-to-drug maker’s shares rallied 3% on Monday after a Friday report by German news service Platow Brief said the company may spin off its troubled crop science division. For new boss Bill Anderson, the numbers certainly work. Bayer’s component parts, valued separately on peer multiples, would have a total equity value of 96 billion euros, Breakingviews calculated in February, or almost double the group’s current market capitalisation. Admittedly crop-science rival Corteva has dropped since then, but not enough to change the overall logic.
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Multiple Teams Interested In Trading At Least One First Round Pick For Tyler HerroMultiple Teams Interested In Trading At Least One First Round Pick For Tyler Herro - RealGM Wiretap
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Tyler Perry's son: What to know about 8-year-old Aman (and his famous godmothers)His dad might be one of the most famous figures in entertainment — but Aman has a 'normal life,' Perry said.
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