Wednesday, April 13, 2022

French Bank’s Oligarch Deal | Twitter Shareholder Sues Musk | NASA’s Asteroid Opportunity


Good morning.

It's becoming more difficult to sell Russia-based assets while complying to sanctions—luckily for Société Générale, there are still some Russian oligarchs who have yet to be hit by sanctions,
including the former owner of the bank the French institution wanted to offload. We're also covering a lawsuit related to Elon Musk's Twitter share dealings and why NASA wants to seize a rare chance to visit a big asteroid soon to pass by the Earth. Finally, we take a look at why a billionaire-studded bid for Chelsea FC is favored to succeed, despite supporters' opposition.

Sofia Lotto Persio

Sofia Lotto Persio

Curator-In-Chief | Twitter

In The News Today

The New York Police Department has identified a 62-year-old man as a person of interest in the Brooklyn subway station shooting that injured almost two dozen people. 

A new contingent of European leaders is heading to Kyiv to meet President Volodymyr Zelensky, while military aid continues to stream into Ukraine as it prepares to fight the invading Russian army in the eastern part of the country.

Top Take-Aways

Société Générale is exiting Russia by selling its Moscow-based banking group Rosbank back to Vladimir Potanin. The Russian oligarch—who has so far only been sanctioned by Canada—originally sold it to the French bank for an estimated $4.3 billion between 2006 and 2014.

A Twitter shareholder
is suing Elon Musk. The lawsuit alleges that the Tesla CEO manipulated the social media company's share price as he delayed a SEC disclosure due 10 days after reaching a 5% ownership stake. The investor's concerns over the messy affair echo those of Twitter employees.

Cambridge, Mass.-based Lumafield designed a
new type of CT scanner that gives engineers the ability to peer inside their products to identify leaky seals or create longer-lasting designs. It just emerged from stealth with $32.5 million in funding and early customers that include L'Oreal, OXO and Trek Bicycle.

A new study found greenhouse gasses produced by human activity
resulted in heavier rainfall during the record-breaking 2020 hurricane season, when storms inflicted around $37 billion in damages across the U.S., as they increased sea surface temperature, causing warm atmospheric conditions.

The CDC advisory list on which locations present risks to U.S. travelers is having little impact, as seven destinations marked as
Level-4 "do not travel" countries are proving popular with holidaymakers, according to travel operators.

An enormous asteroid is expected to fly close to the Earth in 2029. NASA sees this as an opportunity to visit the extraterrestrial object in the hope to study it and better understand whether it may pose a threat to the planet further down the line. 

Today's Must Read

Here's Why The Ricketts-Led Bid For Chelsea May Have An Edge
Here's Why The Ricketts-Led Bid For Chelsea May Have An Edge

As Chelsea FC's search for a new owner nears a close, one group has emerged with a decided advantage over its adversaries. Forbes has confirmed that the bid led by Chicago Cubs owners Tom and Laura Ricketts, which also includes Citadel founder and CEO Ken Griffin and Cleveland Cavaliers owner Dan Gilbert, is the only all-equity bid among the four finalists. 

Read The Full Story →

In Case You Missed It

In a note on Saturday, ratings agency S&P placed Russia under a selective default, which occurs when an entity fails to meet one or more of its obligations, after the nation last Monday made about $649 million worth of coupon payments in the Russian ruble instead of U.S. dollars.


Tips You Can Trust

Setting boundaries is essential to maintaining a healthy work-life balance. Here are four steps to consider to prevent your work spilling into other areas of your life.

The introduction of new ideas is often met with pushback. These five tips can help win over skeptics.

Today's Must Watch

How Ukraine's Tech Industry Ended Up On The Frontlines


How Ukraine's Tech Industry Ended Up On The Frontlines

Before Russia's invasion, Ukraine was a bustling country full of tech startups. Many of those startup staffers have pivoted to something very different: joining the military.


From Beyond The Newsroom

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Forbes Advisor | Smart Financial Decisions Made Simple
Deadline Approaching: How To Estimate Your Taxes Before April 18

If you still haven't filed your taxes yet, now is the time to decide whether or not to apply for an extension. Estimating what you owe Uncle Sam is part of that process, and our experts walk you through it in three steps.

Read Our Guide →

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