It's been just one week since Verizon got permission to lift its 60-day phone unlocking period, and the carrier is already making changes to its policy. Now, Verizon says customers who activate a phone on one of its sub-brands, including Visible, TracFone, Straight Talk, and Total Wireless, will have to pay for service for 365 days before switching their phone to a different network, as spotted ea...
It's been just one week since Verizon got permission to lift its 60-day phone unlocking period, and the carrier is already making changes to its policy. Now, Verizon says customers who activate a phone on one of its sub-brands, including Visible, TracFone, Straight Talk, and Total Wireless, will have to pay for service for 365 days before switching their phone to a different network, as spotted earlier by Droidlife . In addition to the longer lock period, Verizon will also require customers to request that their phone be unlocked, instead of doing it automatically. Visible's policy states that "if you stop paying for service, your progress t … Read the full story at The Verge.
Edenred SE shares rose in Paris after a judge in Brazil suspended a meal voucher reform that seeks to cap fees for operators in the country. The preliminary ruling applies only to Edenred, though other employee-benefits firms have also filed legal challenges, the company said in an emailed statement. Edenred rose by as much as 10% on Wednesday in Paris trading, the biggest intraday jump in three m...
Edenred SE shares rose in Paris after a judge in Brazil suspended a meal voucher reform that seeks to cap fees for operators in the country. The preliminary ruling applies only to Edenred, though other employee-benefits firms have also filed legal challenges, the company said in an emailed statement. Edenred rose by as much as 10% on Wednesday in Paris trading, the biggest intraday jump in three months, while rival Pluxee NV jumped by as much as 9%, the most since July. The government decree, signed in November, appears to “go beyond” the administrative organization of the Worker Food Program (PAT) and would impact “structural aspects” of the benefits market, the Sao Paulo judge wrote in a ruling seen by Bloomberg. The Brazilian Ministry of Labor and Employment said in an email response to Bloomberg News that it hasn’t yet been notified of the decision and that “as soon as we are notified, we will appeal.” Edenred said it expects a definitive ruling by late 2026 or early 2027. The decree faced significant pushback from operators, which accused the government of diverging from talks with industry groups and restricting competition. The reform would have capped merchant discount rates at 3.6% and shortened reimbursement periods. That compares to a reported industry average of 6% to 8%, analysts said at the time. Edenred previously said it would cut 2026 guidance if the measures were to be put in place, targeting an organic decline in Ebitda of 8% to 12%, down from a projected growth of 2% to 4%. Guidance for 2027 and 2028 would remain unchanged.
NYSE CEO Lynn Martin discusses the strength of the US capital markets and the move toward a 23/5 trading model during an interview with Bloomberg Surveillance at the 2026 World Economic Forum in Davos, Switzerland. (Source: Bloomberg)
NYSE CEO Lynn Martin discusses the strength of the US capital markets and the move toward a 23/5 trading model during an interview with Bloomberg Surveillance at the 2026 World Economic Forum in Davos, Switzerland. (Source: Bloomberg)
Creditors to struggling Telesat Canada sued the satellite operator, demanding the company unwind transfers they said placed the most valuable assets out of their reach and breached lending terms. The lenders cited the company’s move to shuffle its Lightspeed unit, a network of low-earth orbit satellites, to an indirect subsidiary and out of a collateral package backing its bonds and loans, accordi...
Creditors to struggling Telesat Canada sued the satellite operator, demanding the company unwind transfers they said placed the most valuable assets out of their reach and breached lending terms. The lenders cited the company’s move to shuffle its Lightspeed unit, a network of low-earth orbit satellites, to an indirect subsidiary and out of a collateral package backing its bonds and loans, according to a court filing dated Wednesday. The lawsuit also alleged Telesat has taken “no action” to address billions of dollars of maturing loans, though the creditors have attempted to engage in discussions. With the transaction, “the conflicted directors stood on both sides of a non‑arm’s‑length and fraudulent transfer that made no pretense of protecting the interests of Telesat Canada and its creditors,” according to the complaint. A spokesperson for Telesat didn’t immediately respond to a request for comment. Read More: Telesat Advisers Plan for Private Talks as Debt Maturity Nears Creditors have been trying to engage with Telesat for years in an effort to address the company’s upcoming debt maturities. The company has about $1.7 billion of debt coming due in December, including a $1.3 billion term loan, according to the complaint. It also has $438 million of debt maturing in 2027. In September, Telesat said it moved 62% of the equity in its Lightspeed unit into an indirect subsidiary of its parent company. After the deal, Telesat Canada was left with a 38% minority stake in the unit and no control of the LEO network. The company has also borrowed a significant amount of debt from the Canadian government to build out its LEO unit. Creditors said they were left with a “deteriorating” business focused on geostationary satellites, and stripped of access to its LEO network, which is growing. The maneuver siphoned off billions of dollars from Telesat Canada to the entity that housed the LEO operations, its growth business - while creditors were left with an eroding GEO unit. “De...
Trump administration acknowledges that Elon Musk’s cost-cutting operation accessed Americans’ sensitive data After months of denials, the Trump administration has acknowledged in a federal court filing that employees working for Elon Musk’s supposed cost-cutting operation accessed and improperly shared Americans’ sensitive social security data. The justice department court filing , submitted on Fr...
Trump administration acknowledges that Elon Musk’s cost-cutting operation accessed Americans’ sensitive data After months of denials, the Trump administration has acknowledged in a federal court filing that employees working for Elon Musk’s supposed cost-cutting operation accessed and improperly shared Americans’ sensitive social security data. The justice department court filing , submitted on Friday in an ongoing lawsuit, reveals that a member of the so-called “department of government efficiency” (Doge) signed a secret data-sharing agreement with an unidentified political advocacy group whose stated aim was to find evidence of voter fraud and overturn election results in certain states. Continue reading...
Vanke must now raise more than 2.7 billion yuan by the end of January to meet upfront obligations. Photo: VCG China Vanke Co. Ltd. has secured crucial approval from bondholders to postpone repayment of a major onshore bond, marking a key milestone in its urgent push to weather a deepening liquidity crunch and avoid default. CITIC Securities Co. Ltd., the bond’s lead underwriter, disclosed Wednesda...
Vanke must now raise more than 2.7 billion yuan by the end of January to meet upfront obligations. Photo: VCG China Vanke Co. Ltd. has secured crucial approval from bondholders to postpone repayment of a major onshore bond, marking a key milestone in its urgent push to weather a deepening liquidity crunch and avoid default. CITIC Securities Co. Ltd., the bond’s lead underwriter, disclosed Wednesday that holders of the “21 Vanke 02” bond had approved a supplementary proposal to delay full repayment. Issued on Jan. 22, 2021, the bond has a 1.1 billion yuan ($158 million) outstanding balance and carries a 3.98% coupon. Although its official maturity is in 2028, the bond includes a put option exercisable on Jan. 22, 2026 that would have compelled Vanke to repurchase the notes.
The judge steps down after nine seasons on the baking competition Prue Leith has announced that she will leave The Great British Bake Off as one of its judges. After nine series of the baking competition, she will hand over her duties to someone else. “Bake Off has been a fabulous part of my life for the last nine years, I have genuinely loved it and I’m sure I’ll miss working with my fellow judge...
The judge steps down after nine seasons on the baking competition Prue Leith has announced that she will leave The Great British Bake Off as one of its judges. After nine series of the baking competition, she will hand over her duties to someone else. “Bake Off has been a fabulous part of my life for the last nine years, I have genuinely loved it and I’m sure I’ll miss working with my fellow judge Paul, Alison and Noel and the teams at Love Productions and Channel 4,” said Leith. “But now feels like the right time to step back (I’m 86 for goodness sake!), there’s so much I’d like to do, not least spend summers enjoying my garden. Whoever joins the team, I’m sure they’ll love it as much as I have. I feel very lucky to have been part of it.” Continue reading...
"How do you spend $50 billion?" President Trump asked when discussing Meta Platforms' (META) plans for an AI data center project at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday. The US leader went on to comment on the outlook for Big Tech's power generation for these AI plants. Watch President Trump's full World Economic Forum address.
"How do you spend $50 billion?" President Trump asked when discussing Meta Platforms' (META) plans for an AI data center project at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday. The US leader went on to comment on the outlook for Big Tech's power generation for these AI plants. Watch President Trump's full World Economic Forum address.