- Jamie Foxx health updates – Family hoping for best but ‘preparing for the worst’ Hindustan Times
- Following Medical Emergency, Jamie Foxx’s Friends and Family Reportedly “Preparing for the Worst” Yahoo Life
- Jamie Foxx: Everything we’ve learned about the actor’s condition 11Alive.com WXIA
- Jamie Foxx’s Friends and Family Reportedly “Preparing for the Worst” Following Medical Emergency HYPEBEAST
- Jamie Foxx Family Reportedly Preparing for “Worst Case Scenario” as Brain Issue Keeps $170M Rich Oscar Winning Marvel Star Shackled to Hospital Bed FandomWire
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Tag Archives: preparing
Following Medical Emergency, Jamie Foxx’s Friends and Family Reportedly “Preparing for the Worst” – HYPEBEAST
- Following Medical Emergency, Jamie Foxx’s Friends and Family Reportedly “Preparing for the Worst” HYPEBEAST
- Jamie Foxx: Everything we’ve learned about the actor’s condition 11Alive.com WXIA
- Jamie Foxx Family Reportedly Preparing for “Worst Case Scenario” as Brain Issue Keeps $170M Rich Oscar Winning Marvel Star Shackled to Hospital Bed FandomWire
- Jamie Foxx’s inner circle and family are preparing for a ‘worst case scenario’ situation Marca English
- Jamie Foxx Health Update: Actor’s Family Preparing for ‘Worst Scenario’ While He is Getting Treated at LatestLY
- View Full Coverage on Google News
Khalistan sympathiser Amritpal Singh was preparing ‘khadkoos’, stockpiling arms: Intelligence dossier – The Tribune India
- Khalistan sympathiser Amritpal Singh was preparing ‘khadkoos’, stockpiling arms: Intelligence dossier The Tribune India
- India: Arrest warrant issued against Amritpal Singh, police crackdown against separatist in Punjab WION
- Refrain from creating atmosphere of terror in Punjab: Akal Takht to govt Hindustan Times
- Amritpal chase: On single-lane link road motorbikes tried to divert cops; Khalistan sympathiser changed route 2-3 times The Tribune India
- Watch: CCTV Visuals Of Amritpal Singh Aides’ Arrest Accessed; Security Enhanced Across Punjab India Today
- View Full Coverage on Google News
The red line was crossed. What signal did Biden send to Putin and what is Xi Jinping preparing? – Yahoo News
- The red line was crossed. What signal did Biden send to Putin and what is Xi Jinping preparing? Yahoo News
- Is Russia Shooting Itself in the Foot by Suspending the New START Treaty? Carnegie Endowment for International Peace
- Russia-Ukraine war anniversary: Why this former diplomat thinks Putin’s nuclear threat ‘is more of a hoax’ WION
- Ticking ‘Doomsday Clock’: How Russia’s suspension of New START Treaty can be a threat to world’s nuclear security Firstpost
- Opinion: Did Putin just inch Russia and the U.S. closer to nuclear war? Yahoo News
- View Full Coverage on Google News
Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan – Economics Bitcoin News – Bitcoin News
- Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan – Economics Bitcoin News Bitcoin News
- Fed Official Warns U.S. Debt Default Would Be ‘Catastrophe’ As Bank Of America Gears Up For The Worst Forbes
- ‘Hope is not a strategy’: Bank of America’s CEO warns corporate America must prepare for the worst around debt ceiling Fortune
- On The Money — How a federal debt default could affect you The Hill
- Gold market sees little reaction as Bank of America warns that it is preparing for a possible government default Kitco NEWS
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Exclusive: Bed Bath & Beyond preparing to file bankruptcy as soon as this week -sources
NEW YORK, Jan 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection as soon as this week, and has lined up liquidators to close additional stores unless a last-minute buyer emerges, four people familiar with the matter said on Monday.
The timing of any bankruptcy filing was in flux Monday evening, with the U.S. home goods retailer’s advisers locked in meetings exploring any remaining options to avoid it, another person familiar with the matter said.
Bed Bath & Beyond is negotiating a loan to help it navigate bankruptcy proceedings, with investment firm Sixth Street in talks to provide some funding, two of the people said. The firm loaned Bed Bath & Beyond $375 million last year.
The chain, once considered a category killer in home goods like dinnerware and small appliances, has lined up liquidators who are readying store closing sales that could be launched as soon as this weekend, two of the people said.
The people spoke on condition of anonymity because the talks are not public.
The chain has said it is closing 87 Bed Bath & Beyond stores and five buybuy BABY stores, in addition to 150 closures announced last year. It is also shutting its health and beauty discount chain Harmon.
The people cautioned that a last-minute buyer for the chain could emerge, or it could still ink a deal for its brands such as buybuy BABY. Prospective buyers sometimes wait until a company files for bankruptcy before agreeing to purchase assets, hoping to negotiate more favorable terms.
Bed Bath & Beyond said in a statement to Reuters that it continued to work with its advisers to consider “multiple paths” but declined to comment on any bankruptcy planning.
The company has previously said it was exploring a range of options to address plunging sales, including selling assets, raising financing and declaring bankruptcy.
Sixth Street declined to comment.
Bed Bath & Beyond said last week it defaulted on a loan, bringing it closer to bankruptcy. Sources have also told Reuters that Bed Bath & Beyond is considering skipping debt payments due on Feb. 1, a typical move that distressed companies take to conserve cash.
Retailers in distress often decide to file for bankruptcy protection after the holiday season to take advantage of the cash cushion provided by recent sales.
Toys R Us liquidated in March 2018 in one of the largest failures to date of a specialty retailer.
As of February 2022, Bed Bath & Beyond had 953 locations, including buybuy BABY.
Bed Bath & Beyond for years had been considered a go-to shopping destination for couples making wedding registries and planning for new babies, but it lost its footing when it tried to expand into store brands.
The retailer’s management has since reversed course and aimed to bring in national brands shoppers knew the chain for. But the strategy has not gained traction with shoppers.
Earlier this month, the company raised doubts about its ability to continue as a going concern and said it would cut jobs.
Bed Bath & Beyond reported a loss of about $393 million after sales plunged 33% for the quarter ending Nov. 26.
Reporting by Jessica DiNapoli and Mike Spector; Editing by Cynthia Osterman and Jamie Freed
Our Standards: The Thomson Reuters Trust Principles.
Crypto lender Genesis preparing to file for bankruptcy, Bloomberg News reports
Jan 18 (Reuters) – Cryptocurrency lender Genesis Global Capital is planning to file for bankruptcy as soon as this week, Bloomberg News reported on Wednesday, citing people with knowledge of the situation.
A bankruptcy filing has been expected for weeks, after the company froze customer redemptions on Nov. 16 following the downfall of major cryptocurrency exchange FTX.
The collapse of FTX in November has claimed several victims including crypto lender BlockFi and Core Scientific Inc , one of the biggest publicly traded crypto mining companies in the United States, both of which filed for bankruptcy protection in the following months.
Genesis, its parent Digital Currency Group and creditors have exchanged several proposals, but have so far failed to come to an agreement, the Bloomberg report said, adding that Kirkland & Ellis and Proskauer Rose have been advising groups of creditors.
Genesis did not immediately respond to a Reuters request for comment.
Genesis is also locked in a dispute with Gemini, founded by the identical twin crypto pioneers Cameron and Tyler Winklevoss.
Gemini offered a crypto lending product called Earn in partnership with Genesis, and now says Genesis owes it $900 million in connection with that product.
The U.S. Securities and Exchange Commission last week said it had charged Genesis and Gemini with illegally selling securities to hundreds of thousands of investors through their crypto lending program.
Reporting by Niket Nishant and Mehnaz Yasmin in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles.
Airline CEO preparing travelers for more disruptions
Aviation lawyer Mark Dombroff and former transportation dpt general counsel Steven Bradbury discuss the FQQ software outage that cause nationwide ground stop to airlines on ‘Fox Business Tonight.’
One airline CEO is warning travelers that other carriers won’t be able to handle all the flights they plan to operate this year.
And that will lead to more disruptions.
United Airlines chief Scott Kirby said airlines that operate as if this is still 2019, before the pandemic, are bound to struggle.
According to Kirby, the industry has a shortage of pilots and other workers, outdated technology and strain on the Federal Aviation Administration.
NEW PILOT CONTRACTS TO DRIVE UP COSTS AT US AIRLINES
United Airlines CEO Scott Kirby and Executive Vice President John Laughter of Delta Air Lines testify before the Senate Committee hearing. (Chip Somodevilla/Pool via REUTERS / Reuters Photos)
“The system simply can’t handle the volume today, much less the anticipated growth,” Kirby said. “There are a number of airlines who cannot fly their schedules. The customers are paying the price.”
Kirby used the problems encountered by Southwest Airlines over the holidays without naming the carrier by name.
Southwest had to scrub nearly 17,000 flights in late December after a winter storm upset the schedule and overwhelmed the airline’s crew-scheduling system.
“What happened over the holidays wasn’t a one-time event caused by the weather, and it wasn’t just at one airline,” he said. Alaska, Spirit and Frontier also had double-digit percentages of canceled flights in late December.
A United Airlines passenger aircraft, Boeing 777, arriving at Chicago O’Hare International Airport. (istock / iStock)
HOLIDAY FLIGHT CANCELLATIONS: KNOW YOUR AIRLINE’S POLICIES AND BEST OPTIONS
Kirby made the remarks during the company’s fourth-quarter earnings call with analysts and reporters.
Kirby made a note of the investment his airline has made in technology, has more employees per flight than before the pandemic, keeps more spare planes and isn’t pushing the schedule too hard.
United Airlines planes are parked at gates at Newark Liberty International Airport in Newark, N.J. ((AP Photo/Seth Wenig, File) / AP Newsroom)
UNITED AIRLINES PLACES MASSIVE BOEING DREAMLINER ORDER
However, those steps have raised United’s cost to fly one mile, not counting fuel, about 15% above 2019’s level.
After the stock market closed Tuesday, Chicago-based United reported a profit of $843 million for the fourth quarter and predicted that 2023 earnings would easily top Wall Street forecasts.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UAL | UNITED AIRLINES HOLDINGS INC. | 48.86 | -2.34 | -4.57% |
Shares of United Airlines Holdings Group Inc. lost 4.6% on Wednesday and another 1% in extended trading.
The Associated Press contributed to this report.
Bed Bath & Beyond preparing to file bankruptcy within weeks -sources
Jan 5 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection in coming weeks, people familiar with the matter said, following poor sales and an inability to compete with large online and big-box retailers.
The U.S. home goods retailer is considering skipping debt payments due Feb. 1, one of the sources said, a typical move distressed companies on the verge of bankruptcy take to conserve cash.
Shares of the retailer, once a category killer in products like small appliances and bed sheets, ended down 30% on Thursday at $1.69 after the company said it expected to report a significant third-quarter loss and that there was substantial doubt about its ability to continue as a going concern.
The company said it was exploring a range of options to address its plunging sales that included declaring bankruptcy. The retailer said it has not made any final decisions on which course to take.
Bed Bath & Beyond had no immediate comment on any bankruptcy preparations beyond its disclosure on Thursday.
The company has interest payments on roughly $1.5 billion of bonds due Feb. 1, according to securities filings. The company is considering skipping the payout to conserve cash, which would likely trigger a 30-day grace period before the company officially defaults, the people said.
Troubled retailers often seek bankruptcy protection following the holiday season to take advantage of the cash cushion provided by recent sales. Should the company seek bankruptcy protection, it would likely seek financing from existing creditors to help it navigate a court restructuring, one of the people said.
The retailer’s fortunes soured after it pursued a strategy focused on its own private label goods. Management has since reversed course to bring in national brands shoppers recognized.
But on Thursday, signs emerged that this strategy too has failed to take off with the company reporting that it expects to post a loss of $385.5 million after sales plunged 33% for the quarter ending Nov. 26, due to lower customer traffic and reduced levels of inventory availability among other factors.
The company is scheduled to report its full third quarter results on Tuesday.
“The turnaround plan put in place last year is not working. … Put bluntly, the business is moving at rapid speed in the wrong direction with bankruptcy the most likely destination,” GlobalData analyst Neil Saunders said.
Bed Bath & Beyond has enlisted turnaround and consulting firm AlixPartners LLP to help advise on options for addressing its financial woes, people familiar with the matter said.
In addition to AlixPartners, the company is being advised by restructuring lawyers at Kirkland & Ellis LLP and investment bankers at Lazard Ltd (LAZ.N), one of the people said.
AlixPartners and Lazard declined to comment. Kirkland did not immediately respond to a request for comment. In a statement to Reuters late on Thursday, Bed Bath & Beyond said it was “working with strategic advisors to evaluate all paths to regain market share and enhance liquidity” but could not comment further on specific relationships.
The company became a meme stock last year when its shares soared more than 400%. Activist investor Ryan Cohen, the chairman of GameStop Corp (GME.N), took a stake in Bed Bath & Beyond, which he later sold, sending shares crashing.
Bed Bath & Beyond in its prior financial update in the fall said it had liquidity of $850 million but had burned through $325 million in the second quarter.
The company had also been asking bondholders to swap out their holdings for new debt to give it more breathing room to turn around its business but canceled the deal on Thursday after not getting much interest from investors, according to filings made with the U.S. Securities and Exchange Commission.
Bed Bath & Beyond had earlier considered selling its valuable buybuy Baby stores that sell goods for infants and toddlers but held off in the hopes it could later fetch a higher price, Reuters reported.
buybuy Baby is the “crown jewel” asset of the company and would likely generate the most interest from buyers in case the parent company decides to sell it as part of its restructuring efforts, Michael Baker, senior research analyst at DA Davidson said, without providing a valuation on the business.
The value of the chain helped the retailer ink a $375 million loan last year, the maximum amount it could borrow.
Reporting by Aishwarya Venugopal in Bengaluru and Siddharth Cavale in New York ; Editing by Shounak Dasgupta, Subhranshu Sahu, Mark Porter and Anna Driver
Our Standards: The Thomson Reuters Trust Principles.
Ukraine Says Russia Preparing 200,000 Fresh Troops To Attack On Kyiv
The Russians are preparing some 200,000 fresh troops, the Ukrainian General said.
Kyiv:
The commander-in-chief of Ukraine’s armed forces expects a new Russian attack on Kyiv in the early months of 2023, according to an interview with The Economist released Thursday.
Much of the fighting has been concentrated in the east and south recently but General Valeriy Zaluzhny told the British weekly the capital would be targeted again.
A “very important strategic task is to create reserves and prepare for the war which may take place in February, at best in March, and at worst at the end of January,” he said in a December 3 interview released on Thursday.
“The Russians are preparing some 200,000 fresh troops. I have no doubt they will have another go at Kyiv,” he said in the interview.
“We have made all the calculations — how many tanks, artillery we need and so on and so on.”
At the end of February, Moscow sent its forces into Ukraine with the aim of swiftly capturing Kyiv.
In a victory for the Ukrainian army, the invaders were held up several dozen kilometres from the capital before pulling back from the region at the end of March and early April.
The general said among his current problems was “to hold this (front)line”, which runs south to east, “and not lose any more ground” after pushing back the Russians from the Kharkiv region in the northeast in September and Kherson in the south last month.
For Zaluzhny, the Russians have bombarded energy infrastructure since October following a series of humiliating battlefield reverses because “they need time to gather resources” for a broad offensive in the coming months.
“I am not an energy expert but it seems to me we are on the edge,” he said, stating that the destruction of the power grid was “possible” by missile and drone strikes.
The waves of attacks on the power network that have already taken place have caused massive power outages across the country, leaving millions of Ukrainians in the bitter cold and dark of winter.
“I know that I can beat this enemy,” the general continued. “But I need resources.
“I need 300 tanks, 600-700 ifvs (infantry fighting vehicles) 500 Howitzers.”
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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