The covid ends years of screaming and the vests in the Bags | Markets

The pandemic has disrupted all areas of the public and private sphere, putting an end to customs and traditions that had been implanted in society for years. The economy has not been left out of these changes. Beyond the impact that the implementation of the restrictions has had on the indicators and in the markets, the world markets have also suffered the effects of the coronavirus.

A good example of this is the decision taken by CME Group, owned by the Chicago Stock Exchange. The operator announced in March 2020 the closure of the park as a precaution. The measure that was temporary is now perpetual. As has been done for 14 months, operations will continue to be carried out remotely. Thus ends with the traditional shouts of buying and selling that have been portrayed so many times in films, remaining recorded in the minds of the collectives as one of the hallmarks of the stock markets.

The CME, one of the largest derivatives exchanges in the world, had already closed face-to-face trading for most of the futures contracts in Chicago and New York in 2015, as face-to-face trades accounted for only 1% of the total volumes traded. . Choices in Chicago, which boasts a 173-year history, was the last bastion of exchange for old-school business fans.

Only Eurodollar options will be left out of this decision. CME is also considering delisting its S&P 500 futures and options contracts after the contracts expire in September 2021.

The decision taken by the Chicago Stock Exchange does not catch traders by surprise and could no longer become an exception to be the norm. Eyes are now on London, which will announce its decision in June. The expectations is that it follows in the footsteps of the American parquet. “It’s sad to see it end this way, but we will all turn the page and move on. It was a good run,” Dan Huber, an independent runner 31 years of experience behind him, tells Bloomberg.

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De la Torre calls for “ending the toxic climate” in the Madrid campaign

Francisco de la Torre, in a file image
WORRY

The mayor of Malaga, Francisco de la Torre, has condemned the threats received by members of the Government, as well as other political positions, and has stressed that it is necessary to “end this toxic climate” so that “full democracy is even better.”

De la Torre, in a message on Twitter, indicated that from the electoral campaign in Madrid “we must draw conclusions so that our full democracy is even better.”

“Madrid is not Spain, threats are always reprehensible (My solidarity with Isabel Díaz Ayuso – the president of the Community of Madrid and PP candidate for reelection -), Manichaeism increases disaffection, we must end this toxic climate “, De la Torre has written.

The Mossos d’Esquadra are investigating the letter with projectiles inside it addressed to Isabel Díaz Ayuso, which has been intercepted in a Post Office in Sant Cugat (Barcelona).

The Ministry of the Interior transferred the facts to the Presidency of the Community of Madrid this past Tuesday, after the security services of the Post Office detected the package, according to Ministry sources.

In addition, Correos detected another letter with projectiles for the director of the Civil Guard, María Gámez, who had already received a similar package together with the candidate of Podemos to the Community of Madrid, Pablo Iglesias, and the Minister of the Interior, Fernando Grande-Marlaska ; the Minister of Commerce, Tourism and Industry, Reyes Maroto, received a letter with a knife inside signed by a person with mental health problems, according to the investigators.

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Regulators will end the most rational bubble: SPACs | Opinion

Three centuries have passed since the launch of “a company to carry out a company of great advantage, but no one knows what it is.” It’s easy to think that only fools would invest in a shell firm that doesn’t state its objective. But the investors in the most famous of the so-called bubble companies, which emerged in London in 1720, were not complete idiots. As its shares were issued partially paid, they were highly leveraged at a higher price. Some made 30 times their initial fee. Now, most of the participants in the craze for blank check vehicles, special purpose takeover companies, or SPACs, are rational. But even rational bubbles eventually explode.

The 1720 firms encompassed a wide variety of offerings, such as “settling in Terra Australis,” making starch from potatoes, the hair trade, as well as others for supplying funerals, extracting gold and silver from lead, and “for empty the necessary houses ”(public toilets). The goals of SPAC’s recent batch are even more ambitious: flying taxi startups, synthetic meat, recyclable plastic, and, of course, a cannabis producer. Many make electric vehicles, sensors and batteries, these are renamed “electrification solutions for commercial applications.”

This year, more than 300 have been launched, raising 93 billion dollars, more than in all of 2020. But not everyone is 100% committed. Investors in these IPOs can ask for their money back when it merges with their target. What’s more, they can keep the warrants of the merged entity. In effect, they are buying convertible bonds without risk. The prefusion SPACs are giving double digit returns. A group of hedge fundsKnown on Wall Street as the “SPAC Mafia,” they use leverage to get bigger profits.

The promoters have an even more lucrative business: in the IPO, they put some cash to cover the costs. In return, they receive warrants and a 20% stake. The odds are so great in their favor that they can even win from trades that destroy value for other shareholders. At the time of the merger, the SPAC raises more in a so-called “private investment in public capital,” or PIPE. New investors are offered lower-than-market stocks, warrants, and other sweeteners.

It is estimated that the listing through a SPAC is three times more expensive than a traditional IPO: it sounds strange that this is chosen. But it offers a faster way to go to market, and thus take advantage of the speculative euphoria. When Tesla soared into the stratosphere, many SPACs announced mergers with new industry firms.

The promoters of 1720 made impossible promises. Those from the SPACs also speak of fantastic prospects. Unlike conventional IPOs, firms that merge with SPAC have more freedom to forecast sales, earnings, and valuations. Silicon Valley is delighted to turn to this “lemon market” to shed its failures: WeWork plans to debut through a SPAC.

The big losers are those who buy shares at launch, but don’t trade them in the merger, and those who buy after the merger. Not only is this Monopoly money, but your investment is diluted by all those warrants and the huge participation of the promoters. Why do they do it? Theorist Bill Bernstein suggests that people who enjoy gambling are willing to pay more for shares than they are worth. His “investment entertainment price theory” (Inept) explains why investors stick to SPACs even though, on average, they are guaranteed to lose money.

It is no coincidence that the SPAC market slowed in late February, in tandem with the collapse of GameStop, traded by Inept investors at Robinhood. The SPACs have many fronts. Its all-you-can-eat buffet is disappearing, as the number of warrants issued on IPOs falls. The impending expiration of the 2020 trading locks could soon flood the market with more SPAC shares. It is feared that the hundreds of them looking for operations will have problems finding suitable partners, as well as obtaining PIPE financing. Promoters are on the tightrope.

Several are lowering their goals. For example, when electric car battery maker Romeo Power announced a SPAC in October, it was forecasting sales for 2021 of 140 million, with growth of 59% in five consecutive years. But at the end of the first quarter, he lowered his forecast for 2021 to 18 million. It has fallen more than 75% from the high.

The SEC says it is examining “some significant and yet undiscovered SPAC issues.” It suggests that they may not have properly accounted for their warrants. It will also clamp down on shell companies that make misleading statements during their mergers. If the “safe harbor” rule that protects SPACs from lawsuits is removed, as seems likely, their advantage over conventional IPOs disappears. There is also concern that some may have spoken to their merger partners before their IPOs: if true, it would be a blatant breach of market rules.

In June 1720, the English Government declared that companies that had not been officially endorsed by Parliament were a “public nuisance.” That regulation wiped out the firms in the bubble, and its collapse brought down the London Stock Exchange. Only two of those companies continued to operate. Historians will undoubtedly call the SPAC frenzy the most rational bubble the world has ever seen.

The authors are columnists for Reuters Breakingviews. Opinions are yours. The translation, of Carlos Gomez Down, it is the responsibility of Five days

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Apple has a plan to end the hegemony of WhatsApp from 2022, how? | Lifestyle

Apple’s iMessage (Messages) application is an old acquaintance that has been with us practically since the first iPhone, although it cover the years Apple has seen in it a way to integrate other elements more typical of the apps courier like WhatsApp, Telegram, Signal, etc. The problem is that outside the US it is practically perceived as that site where we are only going to read or send SMS.

But what many users do not know is that when those messages are exchanged with other users also on iPhone (or iPad and Mac), it is possible to access a richer experience, with animojis, voice notes, photos and videos and practically anything we can imagine. Even confetti and balloons flying all over the screen when we congratulate a friend on a birthday.

Apple wants your WhatsApp

It is precisely because of that condition as a messaging application strictly focused on the Apple ecosystem, that It has not managed to penetrate among users clearly (except in the US), so Californians now want to go one step further. According they report Some media, iOS 15 is going to undergo a “great renovation” that includes aspects such as a radical change in notifications or the home screen of their tablets. Maybe the arrival of the widgets?

iMessage from Apple in iOS 14. Apple

Besides all that, and many more things, the goal of those from Cupertino is to turn that iMessage into a clear alternative to WhatsApp, including a good part of all those functionalities that the app owned by Facebook in terms of managing chats, groups, conversations and content that can be shared quickly and easily. Now, it remains to be seen that within those changes, there is a modification of this exclusivity strategy that limits any revolution to the iOS ecosystem.

And it is that in countries of mass adoption of the iPhone it is easy to reach the goal of turning iMessage into an alternative to WhatsApp, but In more fragmented countries with a clear majority of Android mobiles, such as Spain, reaching this goal is practically impossible, Especially if we talk about rivaling an app that has more than 2,000 million users. These changes will arrive with iOS 15 and, therefore, never before the month of September 2022, when the iPhone will go on sale that year, as well as the new operating system. Although we will be able to see something before, when for the month of June, with the WWDC underway, those of Cupertino already have something to show the worldor. Not just intentions.

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Apple AirTags are official: price, features and release date | Gadgets

For months we had known exactly Apple’s plans to put on sale a small locator device to attach it to all kinds of objects, such as the famous Tiles that have been on the market for years. It’s more, the definitive clue was given by Samsung when at its presentation event at the beginning of the year it did the same with SmartTags: it was evident that a confluence of locator beacons was going to take place together with those of Cupertino.

AirTags Features. Apple

As it is, of everything we saw yesterday again in the keynote from Apple, the most original of all were the AirTags, although we only consider it for its status as a new range that officially arrives on the market for the first time, such as a line of products that until now did not exist within the portfolio of the Americans. With them, we can keep localized everything that we use daily and that is of vital importance to us: keys, bags, coats, umbrellas …

Small and customizable

AirTags are a small device that looks like a super-vitamin button cell battery. will stay localized thanks to its bluetooth LE connectivity, capable of extending its autonomy for a little over a year without the need to replace the battery inside. There, precisely, a small U1 chip is installed capable of offering a lost mode thanks to the NFC that it also equips and, how could it be otherwise, it has IP67 certification that gives it resistance to liquids and dust.

What will protect your AirTag?
What will protect your AirTag? Apple

These AirTags They have a small speaker capable of emitting the sounds necessary to locate it in case we cannot find the object to which it is attached, and thanks to the application “Search” of iOS 14.5, we will achieve surprising precision to locate it. They will also be through this app that we define its specific characteristics to differentiate it from other AirTags that we may have on more objects in the house.

AirTags de Apple.
AirTags de Apple. Apple

Even if it looks like a lie is compatible with Siri, you can customize it with all kinds of emojis and characters at the top, Apple will sell accessories specifically designed to better place the AirTag on any object and if you are interested in it, it is possible to reserve it through the North American website to start receiving it from April 30. Its price?, 35 euros but if you prefer a pack out of five, the thing goes up to 119 euros. Although if you prefer luxury, you can buy several models of the Hermes brand: the normal one for 349 euros, another in the shape of a bag pendant from 299 euros and, finally, the one that they have focused as a luggage tag that will stay at 449 euros. .

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Died actor Artem Tynkasov :: Society :: RBC

Theater and film actor, member of the theater troupe “Commonwealth of Taganka Actors” Artem Tynkasov died at the age of 50. This was announced by the director of the Moscow theater “Gogol-Center” Alexei Kabeshev, reports TASS.

“Artem Tynkasov died” – wrote director at Facebook. The cause of death has not been reported.

The artist was born on September 28, 1970. In 1989 he graduated from the Nizhny Novgorod Theater School, already in his second year he first appeared in films. In 1994 he graduated from the Moscow Higher Theater School named. Shchepkin, and in the same year he was enrolled in the troupe of the theater “Commonwealth of Taganka Actors”.

Tynkasov taught acting at the Shchepkinsky School from 1994 to 1998. In 1999, the actor moved to GITIS.

Tynkasov played in the Riga Academic Theater of Russian Drama, in the Moscow Sovremennik Theater and in the theater. Mayakovsky. On account of his more than 10 films, including a role in the film “Don’t Leave” in 1989.

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The never ending tale Compass | Opinion

In just a few months, Brexit will mark its fifth anniversary since the British decided in a referendum to leave the European Union, and although it seemed that at the end of last year the path of the process was cleared when both parties reached a final agreement for their divorce Yesterday that separation became more complicated, so much so that this time justice will enter the scene.

As had been announced, the EU yesterday began legal action against its former British partners, accusing the government of Boris Johnson of failing to comply with important clauses of the agreement to exit the bloc.

From the perspective of Brussels, the United Kingdom breached the Brexit pact by extending controls on the border with Ireland, a move that the club of 27 puts at risk the Good Friday Agreement, signed in 1998, with which it was reached peace on the island.

Beyond the beginning of these legal measures, some experts have warned about the possibility that a deterioration in the relationship will end the agreement and revive fears of an abrupt break between the two, which were believed to be buried. It should not be forgotten that today, the European Parliament has not yet given its approval to the withdrawal pact.

A legal dispute between the European Union and the United Kingdom, and the hypothetical problems that the Brexit agreement could suffer, do not seem to affect a country like Colombia much, as it is a distant problem. But in today’s globalized economy, shocks of this magnitude are felt everywhere. We must not forget the weight that both powers have, and that Brexit was, during these more than four years, one of the sources of global uncertainty. Although it seemed finished, this is the never ending story.

framir@portafolio.co
Twitter: @pachomiranda

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