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June 29 - According to Kintetsu Railway Company, a train derailed at Kyoto Station at approximately 5:13 AM local time on June 29. Railway authorities are currently inspecting the line, and service on both directions of the Kintetsu Kyoto Line between Kyoto Station and Kamitoribaguchi Station is suspended. No injuries have been reported so far.June 29th - A rare heatwave is sweeping across Europe. On the 27th local time, record high temperatures were broken in Germany, the Czech Republic, and other regions, while governments in Hungary, Poland, and other countries issued nationwide heatwave warnings. The high temperatures in many European countries have spurred demand for air conditioners, fans, and other related products. Driven by strong cross-border e-commerce channels, orders for cooling products made in China have increased significantly, becoming a new growth point for foreign trade exports this summer. Zheng Li, International Trade Director of a company in Ningbo, Zhejiang, stated that from January to May this year, the shipment volume of ice machines to Europe increased by over 70% compared to the same period last year, accounting for about 15% of total sales.① Iran 1. Iranian Foreign Minister: The Straits of Hormuz will be completely under Iranian control within the next 30 days; any intervention will delay the reopening of the Straits. 2. Iranian Foreign Minister calls for the establishment of a “security framework” with Gulf states. 3. Leaders of the Iranian and Lebanese parliaments spoke by phone minutes ago to discuss bilateral issues, particularly the situation in Lebanon. 4. Iran urges the United States to set a timetable for Israel’s “unconditional” withdrawal from Lebanon. ② United States 1. US Ambassador to the United Nations: Iran must choose responsibility or destruction. ③ Israel 1. Israeli Prime Ministers Office: The Israeli military has destroyed Hezbollah’s underground infrastructure in a village in southern Lebanon; Israel notified the United States of the attack in advance. The military will continue to destroy Hezbollah infrastructure to eliminate the threat to northern towns. ④ US-Iran Negotiations 1. Israeli i24NEWS reporter reports that the US-Iran negotiations scheduled for Sunday have been canceled. 2. Iranian officials say Iran did not participate in the technical negotiations scheduled for Sunday due to recent attacks and unfulfilled conditions. 3. Iraqi Foreign Minister: Willing to mediate between the US and Iran to end the war. 4. US media: The US and Iran have agreed to halt mutual attacks and will meet in Qatar this week to resolve the dispute over the Strait of Hormuz. ⑥ Other developments: 1. Israeli military: Hamas naval commander killed in Gaza attack. 2. According to the Associated Press: Pakistan claims it conducted ground operations and strikes in the Afghan border region, resulting in the deaths of 29 militants.June 29 (AP) -- Pakistani officials said security forces conducted an intelligence-based ground operation along the Pakistan-Afghanistan border on Sunday, followed by "precision strikes" on militant hideouts and shelters, killing 29 militants. Pakistani Information Minister Attra Talal said the operation was in response to multiple militant attacks across the country. The previous day, militants armed with guns and explosives attacked the regional headquarters of the paramilitary group Rangers in the southern port city of Karachi, killing three soldiers. Security forces killed three attackers and arrested another, identified by the military as a wounded Afghan national. The Pakistani Talibans separatist faction, the Free Peoples Party, claimed responsibility for the Karachi attack in a statement released Saturday evening.According to Axios: US officials revealed that the US and Iran have agreed to cease attacks and will meet this week.

FTX begins strategic review, seeks court relief to pay critical vendors

Cory Russell

Nov 21, 2022 14:44

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Destroyed cryptocurrency exchange On Saturday, FTX announced that it had started a strategic evaluation of its global assets and was getting ready to sell or reorganize some companies.


A court order was also requested by FTX and roughly 101 related companies to permit the functioning of a new global cash management system and the payment of its essential vendors.


In one of the most publicized crypto meltdowns, the exchange and its affiliates filed for bankruptcy in Delaware on November 11. An estimated million users and other investors are expected to have lost billions of dollars as a result.


According to a statement from the company's new CEO John Ray, FTX would look into sales, recapitalizations, or other strategic transactions for some of its units.


In a court document filed on Saturday, FTX requested authorization to pay prepetition claims of up to $17.5 million after the entry of the final decision and up to $9.3 million after an interim order to its essential vendors.


The exchange said that its businesses would suffer "immediate and irreparable loss" if the requested court relief was not granted.


FTX's Ray stated, "Based on our evaluation over the past week, we are glad to see that many of FTX's regulated or licensed subsidiaries, both inside and outside of the United States, have healthy balance sheets, responsible management, and significant franchises.


According to FTX, as of Nov. 16, there were 216 debtor bank accounts with positive balances; however, as of yet, the company has only been able to confirm the balances in 144 of those accounts.


Subject to court clearance, the company has selected Perella Weinberg Partners LP as its principal investment bank to assist with the selling process.