Connect with us

Reuters

Factbox: Seven U.S. states hold primaries for seats in Congress

Avatar

Published

on

WASHINGTON (Reuters) – Multiple U.S. states are holding congressional primaries on Tuesday, some of which were delayed by the coronavirus. Voting for members of Congress is taking place in Indiana, Iowa, Maryland, Montana, New Mexico, Pennsylvania and South Dakota. Here are details of some of the more interesting nominating contests:

NEWCOMER CHALLENGES DEMOCRATIC LEADER HOYER IN MARYLAND

A 29-year-old political neophyte, Mckayla Wilkes, is taking on House of Representatives Majority Leader Steny Hoyer, who has represented Maryland’s 5th Congressional District southeast of Washington for nearly four decades. Wilkes is running on a progressive campaign supporting Medicare for All and reparations for descendants of slaves.

STEVE KING FIGHTS FOR POLITICAL LIFE IN IOWA

Representative Steve King, who has a history of making racially charged remarks, is fighting for his political life in a five-way primary House race in northwestern Iowa after mainstream Republicans abandoned him.

IOWA DEMOCRATS LOOK FOR CHALLENGER TO SENATOR ERNST

Four Democrats are competing for the nomination to challenge Iowa Republican Senator Joni Ernst, considered one of the more politically vulnerable senators this year. The Senate Democrats’ campaign arm endorsed Theresa Greenfield, who heads a real estate company.

FORMER HEAD OF NAACP SEEKS TO KEEP BALTIMORE SEAT

Democrat Kweisi Mfume recently won a special election to complete the term of the late congressman Elijah Cummings. Now Mfume is running again in the primary for a full two-year term in Maryland’s 7th District, which includes part of Baltimore.

Mfume held the seat for 10 years before becoming director of the National Association for the Advancement of Colored People. He is batting over a dozen Democrats, including state Senator Jill Carter and Maya Rockeymoore Cummings, who was married to Cummings.

CONSERVATIVE NATIVE AMERICAN SEEKS REMATCH IN NEW MEXICO

A conservative Republican member of the Cherokee Nation, Yvette Herrell, narrowly lost New Mexico’s sprawling 2nd District to Democratic Representative Xochitl Torres Small in 2018. Now Herrell wants a rematch.

But first she will have to beat Claire Chase and Chris Mathys in Tuesday’s Republican primary.

LOCALS BATTLE EX-SPY FOR NEW MEXICO SEAT

Valerie Plame, a former CIA operative, has raised over $2 million, more than anyone on the ballot in New Mexico’s 3rd District, where the House seat is open because the current Democratic congressman is running for Senate.

Plame moved to Santa Fe over a decade ago after her cover was blown by officials in then-President George W. Bush’s administration.

There are six other Democratic candidates; local lawyer Teresa Leger Fernandez had a comfortable lead over Plame in one opinion poll. Marco Serna, district attorney in Santa Fe and two other New Mexico counties, is also in the race.

LARGE FIELD VIES TO REPLACE DEMOCRAT IN INDIANA SUBURBS

The mayor of Hammond, Indiana, Tom McDermott, has raised more campaign cash than anyone among the 14 Democrats and six Republicans vying to replace retiring Democratic Representative Peter Visclosky in Indiana’s 1st Congressional District.

But Visclosky, who has held the House seat for over three decades, endorsed North Township Trustee Frank Mrvan. Democratic state Representative Mara Candelaria Reardon and 2018 secretary of state candidate Jim Harper are also running in this solidly Democratic district.

TRUMP BECOMES AN ISSUE IN INDIANAPOLIS AREA

Twenty candidates from both parties are seeking to replace Representative Susan Brooks, a moderate House Republican who is retiring in Indiana’s 5th District, which includes north Indianapolis.

The political arm of the conservative Club for Growth has endorsed state Senator Victoria Spartz in the Republican primary. Its ads questioned whether two other Republican candidates, Beth Henderson and Carl Brizzi, are loyal to President Donald Trump.

Democratic contenders include Christina Hale, a former candidate for lieutenant governor, and Dee Thornton, who ran against Brooks in 2018.

Reporting by Susan Cornwell; editing by Scott Malone, Lisa Shumaker and Jonathan Oatis

Source: http://feeds.reuters.com/~r/reuters/topNews/~3/gJ-ah0GQKKc/factbox-seven-u-s-states-hold-primaries-for-seats-in-congress-idUSKBN2391BB

Blockchain

India to have a ‘window’ for Bitcoin, says minister amid crypto ban FUD

The Ministry of Finance of India continues to form a careful position on private cryptocurrencies.

Avatar

Published

on

The minister of finance of India, Nirmala Sitharaman, has given a ray of hope for the Indian cryptocurrency community as more fear, uncertainty and doubt circulate regarding a supposedly impending ban on digital assets. 

In a Saturday interview with India Today, Sitharaman emphasized that the ministry does not plan to shut off Indian innovations associated with Bitcoin (BTC) and its underlying blockchain technology.

“From our side, we are very clear that we are not shutting all options off. We will allow certain windows for people use, so that experiments on the blockchain, Bitcoins or cryptocurrency […] and fintech, which depend on such experiments, will have that window available for them. We are not going to shut it off,” she said.

Sitharaman said that the ministry is finalizing a cabinet note on crypto as India continues formulating its official stance on the asset class. “It is nearing completion, and then it will be taken to the cabinet. The Supreme Court had commented on cryptocurrency. We are very clear that the Reserve Bank of India will take a call on an official cryptocurrency,” she said.

After India’s supreme court lifted a crypto banking ban one year ago, reports of a new ban started circulating in early 2021. In February, another anonymous Indian official claimed that the government was about to introduce a complete ban on crypto, giving investors up to six months to liquidate their holdings.

On Sunday, Reuters published a report citing an anonymous senior government official who claimed that India is preparing to enforce a blanket ban on crypto and impose major penalties on rule-breakers. As part of an alleged bill, India is planning to criminalize “possession, issuance, mining, trading and transferring crypto-assets,” the source claimed.

Despite reports of a ban from anonymous sources continuing to surface, Sitharaman said in early March that the ministry wants to form a “calibrated” stance on digital assets. 

Nischal Shetty, founder of local crypto exchange WazirX, seemed optimistic about Sitharaman’s comments in a tweet, stating that it is time for the Indian crypto community to build. 

The RBI and the Ministry of Finance did not immediately respond to Cointelegraph’s request for comment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/india-to-have-a-window-for-bitcoin-says-minister-amid-crypto-ban-fud

Continue Reading

Reuters

Fintech banker McLaughlin hunts bigger deal after upsized SPAC IPO

Avatar

Published

on

NEW YORK (Reuters) – The blank check firm co-founded by one of the most prominent U.S. financial technology investment bankers will broaden its search for merger partners to companies worth up to $10 billion after pricing a larger initial public offering (IPO).

Steve McLaughlin started FT Partners in 2001 and since then, the fintech-focused investment bank has worked on mergers and acquisitions and public and private fundraising for the likes of BlackRock Inc, StoneCo Ltd and GreenSky Inc.

An alumnus of Goldman Sachs, McLaughlin and FT Partners have also been involved in advising a half-dozen firms in mergers with so-called special purpose acquisition companies (SPACs), most recently mobile bank MoneyLion’s $2.9 billion combination with Fusion Acquisition Corp.

Alongside Gene Yoon, founder of technology-focused investment firm Bregal Sagemount, McLaughlin is now sponsoring his own SPAC. Independence Holdings Corp. priced a $435 million IPO on Monday, having increased the number of units sold due to investor demand.

SPACs are shell companies that raise funds from investors to take a private company public.

Pulling in extra cash and fully exercising the greenshoe, a share allotment potentially sold in the days after an IPO prices, McLaughlin told Reuters on Tuesday, will allow Independence to target larger fintech companies, beyond the $5 billion maximum size previously considered.

He added a deal involving a company that processes payments between businesses, or one providing financial management services, would be likely for Independence.

“We provide an incredibly attractive option for a company as we’ve successfully taken many companies through this complex process, so we can give comfort to founders and investors along the way,” McLaughlin said.

Despite heightened investor interest in cryptocurrencies, McLaughlin said Independence wouldn’t be investing in a firm in that industry because most businesses are still too early in their development.

He added it was highly unlikely that Independence would end up merging with a client of his investment bank.

Source: Reuters – Fintech banker McLaughlin hunts bigger deal after upsized SPAC IPO

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://spacfeed.com/fintech-banker-mclaughlin-hunts-bigger-deal-after-upsized-spac-ipo?utm_source=rss&utm_medium=rss&utm_campaign=fintech-banker-mclaughlin-hunts-bigger-deal-after-upsized-spac-ipo

Continue Reading

Reuters

Former Disney executives Mayer and Staggs plan new SPAC – source

Avatar

Published

on

(Reuters) – Former Walt Disney Co executives Kevin Mayer and Thomas Staggs plan to raise $300 million in an initial public offering for a new special purpose acquisition company (SPAC), a person familiar with the matter said on Thursday.

The duo’s first SPAC, Forest Road Acquisition Corp, agreed a three-way merger last week with fitness companies Beachbody LLC and Myx Fitness LLC that was valued at around $2.9 billion.

Former basketball star Shaquille O’Neal, who is also on the board of directors at pizza chain Papa John’s International Inc, and Martin Luther King III, the oldest son of civil rights leader Martin Luther King Jr, are working for Forest Road II as a strategic advisor and a director, respectively, the source said.

Mayer and Staggs will serve as co-chief executives and co-chairmen of the new SPAC, the source said. They had worked with the first Forest Road SPAC as a strategic advisor and director, respectively.

The source requested anonymity ahead of a regulatory disclosure on the SPAC IPO.

Mayer was Disney’s top streaming executive before he left the media giant last year to become the chief executive of popular video app TikTok. He departed the company three months after joining. Staggs worked at Disney for 26 years and held various roles including chief operating officer.

SPACs are shell companies that raise funds to take a private company public. They have gained immense popularity since last year, as they allow companies to go public by eschewing traditional IPOs.

A string of high-profile SPACs have been raised in the last 12 months, including by financial investors William Ackman and Barry Sternlicht, former U.S. House Speaker Paul Ryan and ex-NFL quarterback Colin Kaepernick.

Source: Reuters – Former Disney executives Mayer and Staggs plan new SPAC-source

Source: https://spacfeed.com/former-disney-executives-mayer-and-staggs-plan-new-spac-source?utm_source=rss&utm_medium=rss&utm_campaign=former-disney-executives-mayer-and-staggs-plan-new-spac-source

Continue Reading

Reuters

Global firms raise $546 billion in January as SPAC frenzy continues

Avatar

Published

on

(Reuters) – Companies raised $546 billion from new bond and share issues in January, as a flood of central bank money-printing and recovering stock markets brought record numbers of new listings, SPAC deals and share sales, Refinitiv data showed on Wednesday.

The numbers included $106.15 billion in initial public offerings (IPOs), SPACs and secondary offerings, with the amount of money raised by SPACs alone soaring 20 times to $24.26 billion from a year earlier, the data showed.

Companies also raised nearly $439.9 billion in corporate debt in January, a 5% fall since the same period last year, but still the second largest January in 25 years.

A SPAC, a shell company that raises money in an IPO before later merging with a privately held company to take the latter public, has become many investors structure of choice over the past year.

January’s haul was already 30% of a total $79 billion raised by SPACs in the whole of 2020.

Traditional IPO volumes in the United States, however, remained higher than SPACs in January, hitting a 25-year high of $33.9 billion.

Some 47% new bond and share issues were U.S. offerings in January this year, with China second with $23.96 billion.

Nasdaq was the clear winner among exchanges, with 167 issues raising $41.12 billion, followed by the New York Stock Exchange and the Hong Kong Exchange a close third, with both raking in a little more than $18 billion respectively.

That was in stark contrast to European financial hubs London and Frankfurt, which raised $4.29 billion and $1.72 billion respectively.

Chinese online video company Kuaishou Technology is the biggest IPO globally so far this year, raising $5.42 billion in Hong Kong, followed by Polish parcel locker business InPost SA which raised $3.40 billion in Amsterdam.

Source: Reuters – Global firms raise $546 billion in January as SPAC frenzy continues

Source: https://spacfeed.com/global-firms-raise-546-billion-in-january-as-spac-frenzy-continues?utm_source=rss&utm_medium=rss&utm_campaign=global-firms-raise-546-billion-in-january-as-spac-frenzy-continues

Continue Reading
Esports4 days ago

chessbae removed as moderator from Chess.com amid drama

Esports3 days ago

DreamHack Online Open Ft. Fortnite April Edition – How To Register, Format, Dates, Prize Pool & More

Esports5 days ago

Why did Twitch ban the word “obese” from its predictions?

Esports3 days ago

Hikaru Nakamura drops chessbae, apologizes for YouTube strike

Fintech4 days ago

Australia’s Peppermint Innovation signs agreement with the Philippine’s leading micro-financial services provider

Esports19 hours ago

Free Fire World Series APK Download for Android

Esports5 days ago

Hikaru Nakamura accused of striking Eric Hansen’s YouTube channel

Esports5 days ago

Fortnite: Blatant Cheater Finishes Second In A Solo Cash Cup

Esports4 days ago

Twitch bans Adin Ross after ZIAS uses Homophobic slurs during his stream

Esports5 days ago

LoL: LCS MSS Lower Bracket Finals Recap- Team Liquid vs TSM

Esports5 days ago

The best way to play Hecarim in League of Legends season 11

Esports4 days ago

Coven and Abomination highlight the new TFT Reckoning Traits

Esports5 days ago

Atlanta FaZe advance to the Grand Finals at the Stage 2 Major by defeating Dallas

Esports5 days ago

Broodmother reworked, Necronomicon removed in 7.29 update

Esports4 days ago

Ludwig has announced when he’ll end his subathon Twitch stream

Esports3 days ago

Apex Legends update 1.65 brings five new LTMs for War Games

Esports2 days ago

Ludwig Closes Out Month-Long Streaming Marathon in First Place – Weekly Twitch Top 10s, April 5-11

Esports2 days ago

Position 5 Faceless Void is making waves in North American Dota 2 pubs after patch 7.29

Esports2 days ago

Fortnite: Patch Notes v16.20 – Off-Road Vehicle Mods, 50-Player Creative Lobbies, Bug Fixes & More

Blockchain4 days ago

Stock-to-Flow-Analyse: Bitcoin bei 288.000 USD

Trending