Author: IA PressRoom

By Dietrich Knauth NEW YORK (Reuters) – Georgia-based slot machine operator Lucky Bucks filed for bankruptcy Friday, saying that it had reached a deal to cut $500 million in debt and turn over the company’s equity to its lenders. Lucky Bucks suffered from increasing interest rates on its debt, an inflationary environment that reduced consumers’ use of slot machines, and a regulatory crackdown on slot machine operators in Georgia, according to its court filings in Wilmington, Delaware bankruptcy court. Georgia law places strict limits on slot machines, prohibiting cash winnings, and preventing locations like gas stations and convenience stores from…

© Reuters. FILE PHOTO: Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic (Reuters) – Italy’s biggest telecoms company Telecom Italia (BIT:) (TIM) said on Friday it received two new offers for its landline grid, as companies bid to resolve the impasse over the asset’s sale process. U.S. fund KKR and separately a rival consortium comprising state lender CDP and Australian fund Macquarie submitted bids for Telecom Italia’s network, according to a statement. Debt-crippled TIM is seeking improved offers for its most valuable asset after having assessed as not yet adequate the proposals…

© Reuters. FILE PHOTO: Danielle Smith of the United Conservative Party (UCP) speaks during her party’s provincial election night party after a projected win in Calgary, Alberta, Canada May 29, 2023. REUTERS/Todd Korol OTTAWA (Reuters) – Danielle Smith swore in as the premier of Canada’s main oil-producing province on Friday, promising financial support measures, tax cuts and a pledge to push back against federal climate policies she says would harm the region’s fossil fuel industry. Smith secured her first election victory as United Conservative Party leader last month, defeating the left-leaning New Democratic Party to return to power for another…

Image Source: PixabayA rapidly growing decentralized Twitter competitor, Nostr, is collaborating with Zebedee to design a new social media. This move would enable interoperability between Zebedee’s ZBD app and Nostr apps. Zebedee is a New Jersey-based video game payment platform with over one million Bitcoin wallets, supported by a $46.5 million VC fund. Nostr protocol’s innovation allows users to send each other small tips tagged zaps (tiny fragments of bitcoin) instead of the traditional social media content “likes.”Introducing Zebedee’s Nostr-powered Innovative Decentralized Social App The latest partnership allowed Zebedee to move its ZBD application to Nostr, enabling users to seamlessly move from the app…

A committee of the Maine Legislature signed off Friday on a proposal from Democratic Gov. Janet Mills that would give the state one of the least restrictive abortion laws in the country.Maine’s current laws allow abortions until a fetus becomes viable, which is generally considered to be about 24 weeks. The governor’s proposal would change state law to allow abortion after fetal viability if it’s deemed necessary by a physician.MAINE POISED TO ALLOW ABORTIONS AFTER FETAL VIABILITY WITH MEDICAL REFERRALThe Democrats control the state Legislature and its committees, and used that advantage to pass the bill through a judiciary committee.…

U.S. Global Investors GAAP EPS of $0.06, revenue of $3.7M

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Microsoft is moving some of its best artificial intelligence researchers from China to Canada in a move that threatens to gut an essential training ground for the Asian country’s tech talent. The Beijing-based Microsoft Research Asia (MSRA) has begun seeking visas to move top AI experts from China’s capital to its institute in Vancouver, said four people with knowledge of the plans.These people said the move could affect 20 to 40 staff. A person close to Microsoft said fewer Chinese staff will move to Canada this year, where the US tech giant is creating a new lab staffed by experts…

© Reuters. FILE PHOTO: The company logo and trading information for 3M is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. REUTERS/Brendan McDermid By Dietrich Knauth NEW YORK (Reuters) – A U.S. judge on Friday dismissed the bankruptcy of 3M subsidiary Aearo Technologies, rejecting an effort to resolve nearly 260,000 lawsuits alleging that 3M military earplugs caused hearing loss for veterans and U.S. service members. U.S. Bankruptcy Judge Jeffrey Graham ruled that Aearo, as a well-supported subsidiary of 3M, enjoys a “greater degree of financial security…

(Bloomberg) — Hedge funds boosted bullish bets on to a six-week high amid Saudi Arabia’s surprise move to deepen output cuts. Money managers raised bullish bets for a third straight week, according to exchange data released on Friday. The shift came as Saudi Arabia pledged to make an extra 1 million barrel reduction in daily output starting next month to “stabilize” the market, shorthand for halting a price slump. Saudi Energy Minister Prince Abdulaziz bin Salman’s warning that speculators better “watch out” already was hanging over the market.  In the lead up to last weekend’s OPEC+ meeting, non-commercial players such…