deals – Business News Updates https://newsdaily.business Sun, 22 Jan 2023 04:03:12 +0000 en hourly 1 https://wordpress.org/?v=6.4.3 https://newsdaily.business/wp-content/uploads/2021/02/cropped-handshake-hand-gesture-dollar-money-finance-coin_96px-32x32.png deals - Business News Updates https://newsdaily.business 32 32 ‘Deals to be had:’ Homebuyers should ask for these incentive while they have the upper hand https://newsdaily.business/2023/01/22/deals-to-be-had-homebuyers-should-ask-for-these-incentive-while-they-have-the-upper-hand/ https://newsdaily.business/2023/01/22/deals-to-be-had-homebuyers-should-ask-for-these-incentive-while-they-have-the-upper-hand/#respond Sun, 22 Jan 2023 04:03:12 +0000 https://newsdaily.business/2023/01/22/deals-to-be-had-homebuyers-should-ask-for-these-incentive-while-they-have-the-upper-hand/ The housing market is finally tipping in favor of buyers, and that means they can walk away with more than just a decent deal on a home. Around 42% of homes sold in the final three months of 2022 included some kind of concession from the seller, Redfin data found, up from just 30% the […]]]>


The housing market is finally tipping in favor of buyers, and that means they can walk away with more than just a decent deal on a home.

Around 42% of homes sold in the final three months of 2022 included some kind of concession from the seller, Redfin data found, up from just 30% the previous quarter. Those incentives included mortgage rate-buy downs, cash for closing costs and repairs, and warranties on household appliances. A separate study found that 13.6% of sellers also slashed their listing price to attract buyers.

For homebuyers, the uptick in concessions means the days of waiving contingencies and inspections are behind them and they’ll have more bargaining power when purchasing a home. But buyers should act fast, one expert said, as a potential increase in competition may dissuade sellers from negotiating in the long term.

“Everyone has different motivations and goals. Every market is different, but deals are to be had now,” Monte Miner, real estate agent at Ironwood Fine Properties, told Yahoo Finance.

Here’s what to ask for.

More protection

Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell in Revere, MA. (Credit: Blake Nissen for The Boston Globe via Getty Images)

Rick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the driveway as a couple waits to enter a property he is trying to sell in Revere, MA. (Credit: Blake Nissen for The Boston Globe via Getty Images)

The days of waiving contingencies such as appraisals and forgoing inspections are fading into the rearview mirror. Still, contract activity remains slightly competitive depending on your location.

At least 24% of buyers waived the inspection contingency in December 2022, according to the National Association of Realtors confidence survey, up from 16% a month prior and 19% one year ago. An additional 24% of buyers waived an appraisal contingency in December, up slightly from 16% in November and 21% a year ago.

Home inspection contingencies are particularly important because it can let you know if there’s a deal-breaking issue with the property before a purchase occurs. It can also help you negotiate repairs with the seller, which is becoming increasingly common in today’s market.

“If buyers have this short window to buy where they can get incentives to purchase, [they] would rather buy where they have an opportunity to really think about it, get an inspection, a financing contingency and not feel rushed,” Jeff Reynolds, broker at Compass and founder of UrbanCondoSpaces.com, told Yahoo Finance.

Mortgage help

When mortgage rates increased at their fastest clip in over 50 years last year, plenty of homebuyers still in the market opted for a mortgage rate buy-down to ease the financial burden on their home loan.

A buydown is often a strategic option some borrowers use to lower their interest rate by paying discount points at closing. Discount points, or mortgage points, are only paid once at closing and can reduce your interest rate for the life of your loan.

“When the rate was up in the high 7s, we were seeing a 2-1 buydown being asked for a lot,” Miner said. “When that happens, the buyer is hoping to refinance in the next two years in most cases. With rates [in 2023] potentially under 6%, I see that as a possible yet less likely scenario.”

Under some circumstances, a seller may even offer to pay points to offer a temporary rate buydown – only applicable for the first few months of your loan. This can make your mortgage payments more affordable in the beginning of your loan.

Reduce your closing costs

As demand remains low, some home sellers are incentivizing buyers by offering to pay their entire closing costs. (Credit: Getty Creative)

As demand remains low, some home sellers are incentivizing buyers by offering to pay their entire closing costs. (Credit: Getty Creative)

One of the big expenses buyer face when purchasing a home is paying off the closing costs. These fees can include charges for appraisers, home inspectors, real estate agents, attorneys and your lender to name a few.

According to Realtor.com, the closing costs on a home purchase often total 2% to 7% of the home’s purchase price. That means a buyer that purchased a home at the average listed price of $400,000 in December, may have faced a closing fee between $8,000 and $28,000.

Although home sellers and buyers generally split the costs of closing services and fees, these days sellers are more likely to offer to pay more or all of the closing costs to make a sale.

“One of the factors that made buyers pause last year was them saying ‘I don’t have enough money for closing costs,’” John Downs, senior vice president at Vellum Mortgage, told Yahoo Finance. “Well, actually sellers are now paying it for you.”

Ask for a price reduction

A buyer considers a new home during an open house in Plantation. (Credit: Carline Jean/Sun Sentinel/Tribune News Service via Getty Images)

A buyer considers a new home during an open house in Plantation. (Credit: Carline Jean/Sun Sentinel/Tribune News Service via Getty Images)

Home prices are finally falling from their peaks, and on top of that – a growing number of sellers are also offering additional price cuts to attract buyers.

The median listing price jumped from $369,000 in January 2022 to $449,000 in June – an increase of 21%, Realtor.com data found. As of December, the average listing home price had softened to $400,000, still about 8.4% higher than a year earlier.

At current rates at 6.33%, some homebuyers are still facing affordability hurdles. The cost of financing 80% of a typical home remains 58.9% higher compared to a year ago, Realtor.com found, leaving some buyers stuck on the sidelines.

Fortunately, price reductions are becoming more and more common – and asking for a price cut isn’t frowned upon. In fact, some agents are encouraging it.

“Instead of waiting for listing prices to drop, buyers are actually submitting offers with big discounts and making the seller make a decision and that seems to be working,” Downs said, noting that there’s been an uptick in price reductions in the Washington, DC area.

For instance, the percentage of homes with a price reduction increased to 13.6% in December, from 7.1% a year earlier. According to Realtor.com that percentage was higher than it was before the pandemic, but lower than the percentage seen in 2018 (14.8%).

Downs added, “Buyers are setting the tone of the housing market this year, and sellers are listening.”

Act fast

A home sub-division built by Pulte Homes is seen in Novi, Michigan. (Credit: Rebecca Cook, REUTERS)

A home sub-division built by Pulte Homes is seen in Novi, Michigan. (Credit: Rebecca Cook, REUTERS)

Homebuyers who may want to capitalize on their chances to negotiate, should act quickly before the spring selling season kicks off.

According to Redfin, the uptick in purchasing activity during the weeks leading up to Jan. 15 drove the median U.S. home-sale price up 0.9% from a year earlier to $350,250 – the biggest increase in a month.

The volume of mortgage applications to purchase rose 25% in the week ending Jan. 13, the Mortgage Bankers Association found. While that is still off 35% from year-ago activity levels, it’s likely that the pool of buyers will continue to grow as rates decline.

“I have a property listed at $375,000 and we already have 20 offers. Two of them are full price, one is above price,” Miner said. “At that point, buyers are not going to have a chance to get any concessions on that property.”

Gabriella is a personal finance reporter at Yahoo Finance. Follow her on Twitter @__gabriellacruz.

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Read More:‘Deals to be had:’ Homebuyers should ask for these incentive while they have the upper hand

2023-01-21 18:12:30

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US Executive Branch Update – January 18, 2023 https://newsdaily.business/2023/01/19/us-executive-branch-update-january-18-2023/ https://newsdaily.business/2023/01/19/us-executive-branch-update-january-18-2023/#respond Thu, 19 Jan 2023 11:44:18 +0000 https://newsdaily.business/2023/01/19/us-executive-branch-update-january-18-2023/ This report provides a snapshot of the U.S. Executive Branch priorities via daily schedules and the prior day’s press releases. POTUS’ Schedule* 9:00 a.m. EST – THE PRESIDENT receives the Presidential Daily Briefing | The White House VPOTUS’ Schedule* The Vice President will be in Washington, D.C., and has no public events scheduled. White House […]]]>


This report provides a snapshot of the U.S. Executive Branch priorities via daily schedules and the prior day’s press releases.

POTUS’ Schedule*

9:00 a.m. EST – THE PRESIDENT receives the Presidential Daily Briefing | The White House

VPOTUS’ Schedule*

The Vice President will be in Washington, D.C., and has no public events scheduled.

White House Press Briefing Schedule*

3:00 p.m. EST – Press Briefing by Press Secretary Karine Jean-Pierre | James S. Brady Press Briefing Room

*The U.S. President (POTUS) and Vice President’s (VPOTUS) daily schedules are subject to change, as is the White House press briefing schedule.

Recap of Tuesday, January 17, 2023

Note: All colored text denotes hyperlinks.

The White House

  • Remarks by President Biden and Vice President Harris Honoring the 2022 NBA Champions, the Golden State Warriors
  • Readout of President Joe Biden’s Meeting with Prime Minister Mark Rutte of the Netherlands
  • Remarks by President Biden and Prime Minister Rutte of the Netherlands Before Bilateral Meeting
  • Readout of President Joe Biden’s Call with Chancellor Olaf Scholz of Germany
  • Statement from President Joe Biden on Record-Setting Small Business Applications
  • Readout of Vice President Harris’ Call with President Sheikh Mohammed bin Zayed Al Nahyan of the United Arab Emirates
  • Statement from President Joe Biden on the Anniversary of Terrorist Attack on the United Arab Emirates
  • Readout of Vice President Harris’ Meeting with Prime Minister Davis of The Commonwealth of The Bahamas
  • Readout of National Security Advisor Jake Sullivan Call with National Security Advisor Eduardo M. Año of the Philippines
  • Memorandum on Delegation of Authority Under Section 6501(b)(2) of the National Defense Authorization Act for Fiscal Year 2022
  • Transcript:  Press Briefing by Press Secretary Karine Jean-Pierre, January 17, 2023
  • Fact Sheet:  Biden-⁠Harris Administration Continues to Uplift Asian American, Native Hawaiian, and Pacific Islander Communities

Department of Defense (DOD)

  • Transcript:  Pentagon Press Secretary Air Force Brig. Gen. Pat Ryder Holds an On-Camera Press Briefing
  • Advisory:  Secretary of Defense, Chairman of the Joint Chiefs Travel to Germany for Ukraine Defense Contact Group Meetings (Jan. 20)
  • Article:  Austin to Convene Ukraine Defense Contact Group Session
  • Contracts for January 17, 2023

Department of State

Daily Schedule | Wednesday, January 18, 2023

Europe, Belarus

  • January 17:  Statement | Secretary Antony J. Blinken and UK Foreign Secretary James Cleverly at a Joint Press Availability
  • January 17:  Statement | Responding to Continued Repression by the Lukashenka Regime in Belarus

Middle East

  • January 17:  Statement | One-Year Anniversary of the Terrorist Attack on the UAE

Asia-Pacific

  • January 17:  Advisory | Assistant Secretary Kritenbrink’s Travel to the Philippines

Department Administrative Matter

  • January 17:  Statement | Department of State Reaches Settlement Resolving Longstanding Claims of Disability Discrimination Relating to Its Worldwide Availability Requirement for Career Department of State Foreign Service Applicants

U.S. Agency for International Development (USAID)

  • Readout:  Administrator Samantha Power Attends World Economic Forum

U.S. Mission to the United Nations (UN)

  • Remarks by Ambassador Richard Mills at a UN Security Council Briefing Called by Russia on Religious Freedom in Ukraine

Department of the Treasury

  • Remarks by Deputy Secretary of the Treasury Wally Adeyemo at White House event “Lowering Costs: Inflation Reduction Act Briefing”
  • General Licenses:  Issuance of Russia-related General Licenses and Amended Russia-related Frequently Asked Questions
  • General Licenses:  Issuance of Venezuela-related General License and Amended Venezuela-related Frequently Asked Question

Department of Justice

Federal Bureau of Investigation (FBI) | Daily Press Releases

  • Speech:  Assistant Attorney General Kenneth A. Polite, Jr. Delivers Remarks on Revisions to the Criminal Division’s Corporate Enforcement Policy
  • Press Release:  Physician Convicted for Misappropriating Approximately $250,000 from COVID-19 Relief Programs
  • Press Release:  Military Contractor Pleads Guilty to Bid Rigging
  • Press Release:  Eye Surgery Practices Agree to Pay $1 Million and End Discriminatory Policies Towards People with Disabilities

Department of Homeland Security (DHS)/Cybersecurity & Infrastructure Security Agency (CISA)/Customs and Border Protection (CBP)

  • Press Release:  CBP announces new path forward for the replacement of deteriorated border barrier near Friendship Park (Washington, D.C.)
  • Press Release:  CBP Officers Seize Over $7.5 Million in Marijuana at World Trade Bridge (Texas)
  • Press Release:  CBP Officers Apprehend Fugitive Wanted for Smuggling of Persons at the Hidalgo International Bridge (Texas)
  • Press Release:  Del Rio Sector Agents Arrest Sex Offenders (Texas)
  • Press Release:  Border Patrol Assists Local Ranchers with Horse Rescues (California)
  • Press Release:  Cincinnati CBP Intercepts Over 140 Pounds of Meth in Acrylic Paint (Ohio)

Federal Emergency Management Agency (FEMA)

  • Link to daily press releases

Office of the U.S. Trade Representative (USTR)

  • Press Release:  U.S., EU Sign Tariff Rate Quota Agreement
  • Readout of January Negotiating Round Under the U.S.-Taiwan Initiative on 21st-Century Trade

Federal Trade Commission (FTC)

  • Press Release:  FTC Extends Public Comment Period on Potential Business Opportunity Rule Changes to January 31, 2023

Federal Communications Commission (FCC)

  • Press Release:  Chairwoman Rosenworcel at Center for Strategic & International Studies
  • Press Release:  FCC Adopts Q Link Notice of Apparent Liability for EBB Violations

Department of Agriculture (USDA)

  • Press Release:  USDA Introduces an E-Application for the 1890 National Scholars Program

Department of Energy (DOE)

  • Press Release:  DOE Announces $2.3 Million for Public-Private Partnerships to Advance Fusion Energy

Department of Interior (DOI)

  • Press Release:  Interior Department Finalizes Offshore Wind Safety and Environmental Responsibilities

Environmental Protection Agency (EPA)

  • Press Release:  Biden-Harris Administration Announces $9.9 Million from EPA’s Clean School Bus Program for Guam Schools
  • Link to other EPA press releases

Department of Transportation

  • Press Release:  Virgin Atlantic Fined for Operating Flights in Prohibited Airspace

Department of Labor

  • Press Release:  Federal court orders Michigan assisted living facility, owner to pay $15K in back wages, damages after U.S. Department of Labor investigation
  • Press Release:  Federal court orders Carbondale café, owner to pay $98K in back wages, damages to 31 employees, rectifying jury decision that shorted back wages
  • Press Release:  U.S. Department of Labor recovers $1.1M for 263 foreign workers denied full wages by Wisconsin employer
  • Press Release:  U.S. Department of Labor alleges Colorado restaurant operator intimidated, fired workers who participated in federal investigation
  • Press Release:  U.S. Department of Labor recovers $49K for servers after finding restaurant’s owners shared servers’ tips with manager illegally
  • Press Release:  Deadly gamble: Ohio contractor with history of violations endangers workers at 3 trench sites in a week; damaged safety gear found at site of worker’s death

Health & Human Services (HHS)

  • Press Release:  Biden-Harris Administration Unveils National Strategy to Advance Equity, Justice, and Opportunity for Asian American, Native Hawaiian, and Pacific Islander Communities
  • Press Release:  Biden-Harris Administration Takes Additional Steps to Strengthen Nursing Home Safety and Transparency



Read More:US Executive Branch Update – January 18, 2023

2023-01-19 10:51:41

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Top global companies write down billions as deals make way for gloom https://newsdaily.business/2023/01/15/top-global-companies-write-down-billions-as-deals-make-way-for-gloom/ https://newsdaily.business/2023/01/15/top-global-companies-write-down-billions-as-deals-make-way-for-gloom/#respond Sun, 15 Jan 2023 23:22:51 +0000 https://newsdaily.business/2023/01/15/top-global-companies-write-down-billions-as-deals-make-way-for-gloom/ Some of the world’s biggest companies are facing multibillion-dollar writedowns on recent acquisitions as a wave of dealmaking gives way to a new era of economic uncertainty and higher interest rates. With a third of the global economy forecast to be in recession this year, world leaders will this week gather in Davos, Switzerland, to […]]]>


Some of the world’s biggest companies are facing multibillion-dollar writedowns on recent acquisitions as a wave of dealmaking gives way to a new era of economic uncertainty and higher interest rates.

With a third of the global economy forecast to be in recession this year, world leaders will this week gather in Davos, Switzerland, to discuss what the World Economic Forum has called a “polycrisis” as business leaders engage in a painful reckoning over their empire building.

US media and healthcare companies are among those to have slashed the value of business units in the past few months and accountants are warning that more cuts could be imminent as the annual reporting season gets under way.

Companies are required to assess the carrying value of intangible assets at least once a year, using assumptions about future cash flows and comparisons to stock market valuations, which fell sharply in 2022.

With higher costs owing to inflation and a weaker outlook for demand, many recently acquired businesses may struggle to justify their valuations, even before factoring in higher interest rates, which further reduce the present value of future cash flows.

“It’s a pretty deadly combination,” said Jasmeet Singh Marwah, managing director at Stout, a valuation services company. “For many businesses . . . they made the acquisition and the performance has not been at par with what they expected or budgeted for.”

Bar chart of Goodwill impairment, calendar year 2022 ($bn) showing Biggest writedowns in the S&P 500

Global dealmaking hit a record $5.7tn in 2021, but slowed sharply as 2022 progressed. According to Refinitiv, $1.4tn of transactions were agreed in the second half of last year compared with $2.2tn in the first, marking the biggest swing from one six-month period to the next since records began in 1980.

The premium paid for an acquisition over the value of its net assets is called goodwill and is recorded on the acquirer’s balance sheet. Goodwill writedowns grew in size in the US last year, to the point where they were occasionally big enough to wipe out a company’s profits in the quarter in which they were recorded.

The 10 largest goodwill writedowns at S&P 500 companies in 2022 totalled $35.4bn, according to data gathered by consultancy Kroll, compared with $6.1bn in 2021.

Launching a bid to join the Disney board this week, investor Nelson Peltz highlighted the around $50bn in goodwill on Disney’s balance sheet attributable to the acquisition of Fox, which he predicted would have to be largely written down.

Business and political leaders in Davos for the WEF’s first winter meeting since before the coronavirus pandemic confront a vastly different landscape to three years ago.

Ahead of the meeting, the WEF’s annual risk report warned of a “polycrisis” as the soaring cost of living and an economic downturn combine with continued failures to tackle inequality and climate change.

Bar chart of Goodwill impairment, calendar year 2022 (€bn) showing Biggest writedowns in the Stoxx 600

Kristalina Georgieva, the IMF’s managing director, who will be in Davos to present the fund’s latest economic outlook, predicted earlier this month that one-third of the world economy will be in recession this year, including half the EU.

The size of goodwill writedowns in Europe has not so far risen. The 10 largest in the Stoxx 600 totalled €6.4bn last year, according to Kroll, down from €17bn in 2021.

European companies have later financial year-ends and less frequent reporting, said Carla Nunes, a Kroll managing director, suggesting that more goodwill impairments could come in the spring.

Dan Langlois, partner at KPMG, said recent acquisitions could be vulnerable to writedowns even if they are currently performing to plan.

“When you factor in cost inflation that maybe wasn’t anticipated, when you factor in higher interest rates, which drive up the rate you might use in a discounted cash flow analysis, and then factor in some of the uncertainties associated with a potential recession, those things in totality will influence fair value,” he said.

In October, Comcast reported a more-than-$8bn writedown of the broadcaster Sky, which it acquired in 2018, citing challenging economic conditions in the UK and other European markets and plunging the media group into a $4.6bn quarterly loss.

Earlier last year, Teladoc Health, which acquired virtual care provider Livongo for $13.9bn in 2020, recorded two consecutive quarters of writedowns totalling close to $10bn.

While companies are required to subtract goodwill writedowns from their profit, many exclude them from the “adjusted” numbers they highlight in earnings reports.

That does not mean investors should ignore them, said David Zion, founder of Zion Research.

When a company cuts the value of its assets, its debt to equity ratio goes up, which in turn increases the risk of breaching covenants on its debt, he said. It can also flatter future returns.

“Management will tell you it’s non-cash, it’s one-time, don’t worry about it. Don’t forget that, when return on assets is so good two years down the line, that is because they took a giant impairment.”

Kroll’s Nunes added that goodwill impairments provide a readout on the quality of a company’s dealmaking. “You can tell if you are getting a return on your investment,” she said, “or if the buyer may be overpaying for these businesses.”



Read More:Top global companies write down billions as deals make way for gloom

2023-01-15 21:00:42

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Everything we know about after-Christmas sales — plus 50 incredible deals to shop now https://newsdaily.business/2022/12/25/everything-we-know-about-after-christmas-sales-plus-50-incredible-deals-to-shop-now/ https://newsdaily.business/2022/12/25/everything-we-know-about-after-christmas-sales-plus-50-incredible-deals-to-shop-now/#respond Sun, 25 Dec 2022 15:49:05 +0000 https://newsdaily.business/2022/12/25/everything-we-know-about-after-christmas-sales-plus-50-incredible-deals-to-shop-now/ Here’s your cheat sheet to navigating the best after-Christmas sales! (Photo: Amazon/Dyson) Still exhausted from all that Black Friday and Cyber Monday shopping? Believe it or not, the time to bag a bargain is right after Christmas. That’s because — while everyone is nursing post-holiday hangovers — major retailers will be busy hosting some epic […]]]>


vacuum, tv, headphones

Here’s your cheat sheet to navigating the best after-Christmas sales! (Photo: Amazon/Dyson)

Still exhausted from all that Black Friday and Cyber Monday shopping? Believe it or not, the time to bag a bargain is right after Christmas. That’s because — while everyone is nursing post-holiday hangovers — major retailers will be busy hosting some epic after-Santa sales. So if you missed out on a few things during gift-shopping madness, embrace your real last chance to save big.

The reason for all these after-Christmas sales is simple. “Retailers need to clear out the holiday items to make way for the next season,” BlackFriday.com‘s shopping expert, Mackenzie Shand, confirms to Yahoo Life. “So you can save big during the after-Christmas clearance sales. During this time, there are also plenty of end-of-year sales as well as semi-annual events.”

How to score the best after-Christmas deals

So what’s the smartest approach to after-Christmas sales? “Every year, December 26 is a great time to stock up on holiday decorations, Christmas trees, seasonal gift wrap and holiday treats,” says Shand. “You can also find savings on winter clothing and holiday gift sets on December 26, making it the perfect time to save on gifts for family and friends with winter birthdays — or even treat yourself.”

Rakuten‘s Retail and Shopping Expert, Kristen Gall, suggests focusing on “electronics, which will definitely be on the steepest discounts, as well as clothes (such as winter jackets, accessories, etc.), exercise equipment and shoes.”

Best Buy, Walmart and Amazon have you covered on after-Christmas electronics deals. Their earbud and earphone deals alone are not to be missed. And deals are already underway. Best Buy just took $30 off the Google Pixel Buds A-Series True Wireless In-Ear Headphones (now $60), Walmart has knocked nearly 30% off Samsung Buds+ True Wireless Headphones and Amazon is offering $80 off the coveted Bose QuietComfort 45 Bluetooth Wireless Noise Canceling Headphones.

Update 12/25/22 9:30 AM ET: We scoured the web for more kitchen deals and added them below. New post-Christmas deals are rolling out all weekend, and we’re updating this space often, so keep checking back to get the best savings.

Top 5 deals to shop now

  • Apple AirPods Pro (2nd Generation)

    $200$249Save $49

  • Insignia All-New 42-inch Class F20 Series Smart Full HD 1080p Fire TV

    $190$270Save $80

  • Dyson V10 Absolute Cordless Vacuum

    $530$600Save $70

  • iRobot Roomba 694 Robot Vacuum

    $179$274Save $95

  • Elefor Massage Gun Deep Tissue

    $37$100

    Save $63 with 5% off coupon

Best after-Christmas TV deals

If you were waiting for gift-shopping season to pass so you could upgrade your own home theater, consider these after-Christmas TV deals your golden opportunity. “Many retailers find themselves with a surplus of inventory at the end of the month, which will inevitably lead to deeper discounts in hopes of clearing out the shelves for next season’s items,” says Shand. Make way for those new TV models by taking these sets off their hands.

Top TV deals to shop now

Amazon: Save up to 34% off Samsung TVs, 33% off Sony and 47% off Fire TVs.

  • Insignia 42-inch Class Smart Full HD Fire TV

    $190$270Save $80

  • Toshiba 43-inch Class V35 Series LED Full HD Smart Fire TV

    $190$290Save $100

  • Hisense 50-inch ULED U6 Series Quantum Dot QLED 4K UHD Smart Fire TV

    $340$530Save $190

Walmart: Save on onn., TCL and more.

  • LG 55″ Class 4K UHD 2160P Smart TV

    $358$448Save $90

  • TCL 32″ Class 3 Series 1080P FHD LED Roku Smart TV

    $148$250Save $102

Best after-Christmas headphone and earbuds deals

What’s that sound? It’s the sweet sound of savings — on after-Christmas headphone and earbud deals, of course. We expect to see at least 30% savings on popular earbuds and earphones by Bose, Beats, Samsung and more favorites, at both Amazon and Walmart. Even right now, prices are bonkers. Apple AirPods Pro, one of the holiday season’s hottest sellers, is in the spotlight at Amazon and reduced to $200, which was its Black Friday price!

Top headphone and earbuds deals to shop now

Amazon: Save on Apple, Bose, Beats and more.

  • Apple AirPods Pro (2nd Generation) Wireless Earbuds

    $200$249Save $49

  • Bose QuietComfort 45 Bluetooth Wireless Noise Cancelling Headphones

    $249$329Save $80

  • Beats Solo3 Wireless On-Ear Headphones

    $130$200Save $70

Best Buy: Score up to $50 off Samsung Galaxy Buds and $50 off Sony headphones.

  • Gap Loose Khakis with Washwell

    $24$80Save $56

Walmart: Save on Pixel, Samsung Buds and more.

  • Samsung Buds+ True Wireless Headphones

    $100$135Save $35

Best after-Christmas kitchen deals

It’s not just Amazon heating things up with more than 60% off kitchen bestsellers like Henckels knives and Ninja multicookers. The Home Depot is in the mix, with up to 45% off select tools, and HSN is letting you save $10 on your order with code HSN2023, plus five Flexpays on everything. Not to be outdone, QVC is upping the ante with up to 50% off everything.

Top kitchen deals to shop now

Amazon: Save up to 25% off Nespresso machines, 50% off sous vides, and up to 62% off Henckel’s cutlery.

  • Henckels Premium Quality 15-Piece Knife Set with Block

    $130$345Save $215

  • Instant Vortex 9 Quart VersaZone 8-in-1 Air Fryer

    $120$198Save $78

  • Nespresso Vertuo Coffee and Espresso Maker

    $158$219Save $61

Home Depot: Save up to 45% on tools.

  • Ryobi One+ 18V Cordless 6-Tool Combo Kit

    $199$299Save $100

HSN: Shop the site’s year-end sale, and score $10 off your first order with code HSN2023. Plus, you can get free shipping with any order over $75.

  • Kitchen HQ 4-Quart Stand Mixer

    $90$130Save $40

QVC: Get up to 50% off the original price, plus five EasyPays on all clearance kitchen items (and score free shipping with code FREESHIP).

  • J Jason Wu 5-Quart Cast Aluminum Nonstick Dutch Oven

    $34$71Save $37

Walmart: Save on Lodge, Beautiful by Drew Barrymore and more.

  • Gap Loose Khakis with Washwell

    $24$80Save $56

  • PowerXL Dual-Basket Vortex Air Fryer Pro

    $69$100Save $31

Best after-Christmas vacuum deals

Shoppers can clean up on after-Christmas vacuum deals at Amazon to the tune of up to 35% off iRobot and over 56% off Bissell. Walmart is offering up to $200 off Dyson vacuums, too.

Top vacuum deals to shop now

Amazon: Score up to 56% off Bissell, 29% off Hoover and more.

  • Bissell SpinWave Pet Robot, 2-in-1 Wet Mop and Dry Robot Vacuum

    $230$400Save $170

  • Whall Cordless Stick 4-in1 Vacuum Cleaner

    $140$400

    Save $260 with $20 coupon

  • iRobot Roomba 694 Robot Vacuum

    $179$274Save $95

Walmart: Score up to $200 off Dyson vacuums, plus pick up savings on Hoover, Eufy and more.

  • Hoover Hoover PowerDash Pet Carpet Cleaner

    $69

  • Dyson V8 Absolute Cordless Vacuum

    $300$500Save $200

Best after-Christmas mattress and bedding deals

Blankets, comforters, pillows and more — it’s all on sale for up to 40% off at Amazon, Walmart and Bed Bath & Beyond. Don’t sleep on these deals!

Top mattress and bedding deals to shop now

Amazon: Save on Ashley Store beds, Beckham Hotel bedding and Zinus mattresses.

  • Cushy Form Cushy Form Knee Pillow for Side Sleepers

    $17$30Save $13

  • Beckham Hotel Collection Full/Queen Size Comforter

    $28$57Save $29

Walmart: Score savings on on Serta, Mainstays, Bedsure and more.

  • Sealy Medium Support Memory Foam Bed Pillow, Standard 2 Pack

    $35$59Save $24

  • Sunbeam Heated Electric Throw Blanket

    $30$45Save $15

Bed Bath & Beyond: Score up to 70% off on clearance, plus save on Brookstone heated blankets, Ugg bedding, Therapedic mattress toppers and more. Don’t forget: You can also score free same day delivery for orders over $29.

Best after-Christmas style deals

In addition to Amazon’s always-incredible deals on style staples, Coach Outlet is taking up to 70% off its coveted bags and more, Kate Spade is taking an extra 40% off sale styles (up to 60% off total), Nike is slashing sneakers and sportswear by 40%,

Top style deals to shop now

Amazon: Snag savings on dresses under $25, sweaters under $30 and jeans under $40.

  • Syrinx High Waisted Leggings for Women

    $8$17Save $8

  • FYC Soft Wool Socks

    $19$30Save $11

Coach Outlet: Extra 20% off 1,000+ styles.

  • Coach Gallery Tote In Signature Canvas

    $103$350Save $247

Everlane: Score up to 60% off select styles.

  • Everlane The Organic Cotton Waffle Henley

    $25$50Save $25

Gap: Up to 75% off on select items, with an extra 60% off markdowns with code SALE.

  • Gap Loose Khakis with Washwell

    $24$80Save $56

Kate Spade: Pick up an extra 40% off sale styles with code 40OFF.

  • Kate Spade Veronica Large Tote

    $143$298Save $155

lululemon: Take advantage of the brand’s End-of-Year finds on leggings, sports bras and more.

  • lululemon InStill High-Rise Crop 23″

    $69$118Save $49

Nike: Score up to 40% off sale.

  • Nike Revolution 6 Next Nature

    $47$70Save $23

Nordstrom: Score sweaters starting at $39 and up to 60% off boots.

  • Studio Lite High Waist Print 7/8 Leggings

    $26$65Save $39

Nordstrom Rack: Score up to 80% off clearance.

Victoria’s Secret: Free shipping on orders over $25 and $25 off $125+ orders.

Zappos: As always, get fast, free shipping with every order.

  • Asics GEL-Contend 7

    $49$65Save $16

Best after-Christmas beauty deals

You can always count on Amazon to bring the beauty savings, but Sephora is offering savings on makeup, skin care and more.

Top beauty deals to shop now

Amazon: Up to 30% off IPL devices, 30$ off Braun devices and more.

  • Elefor Massage Gun Deep Tissue

    $39$100Save $61

  • L’Oreal Paris Skincare Revitalift Triple Power Anti-Aging Eye Cream

    $16$28Save $12

Dermstore: Score up to 50% off select sale items, plus an extra 10% off on top with code EXTRA10.

  • Dr Dennis Gross Ferulic Retinol Triple Correction Eye Serum

    $43$69Save $26

Sephora: Free same day delivery with code FREESAMEDAY for Beauty Insiders, plus save on Grande Cosmetics, Biossance and more.

  • Kiehl’s Hydrating Winter Wonders

    $75$99Save $24

Ulta: Score savings on Tula, Dermaflash, Cerave and more, plus pick up free shipping on purchases over $35.

  • It Cosmetics Beautiful Together Confidence Boosting Anti-Aging Skincare Gift Set

    $32$54Save $22

We’ve got your holiday shopping list covered. Find expert picks on the best tech gifts on…



Read More:Everything we know about after-Christmas sales — plus 50 incredible deals to shop now

2022-12-25 14:30:14

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Oklahoma convenience stores sell to Denver buyer, other realty deals https://newsdaily.business/2022/12/24/oklahoma-convenience-stores-sell-to-denver-buyer-other-realty-deals/ https://newsdaily.business/2022/12/24/oklahoma-convenience-stores-sell-to-denver-buyer-other-realty-deals/#respond Sat, 24 Dec 2022 19:55:42 +0000 https://newsdaily.business/2022/12/24/oklahoma-convenience-stores-sell-to-denver-buyer-other-realty-deals/ Denver-based Monfort Cos.’ 7E CO Holdings LLC has acquired 19 gas and convenience stores across southwest Oklahoma to operate under the name Chisholm Corner.    The company bought stores in Alex, Apache, Cache, Walters, two in Elgin, Marlow, and Pauls Valley, eight in Duncan, plus one in Wichita Falls, Texas. Montfort would not say how much […]]]>


Denver-based Monfort Cos. has acquired 19 convenience stores in southwest Oklahoma, and one in Texas, including this one at 1540 W Plato in Duncan, one of eight in that city. They were rebranded as Chisholm Corner stores. PROVIDED

Denver-based Monfort Cos.’ 7E CO Holdings LLC has acquired 19 gas and convenience stores across southwest Oklahoma to operate under the name Chisholm Corner.   

The company bought stores in Alex, Apache, Cache, Walters, two in Elgin, Marlow, and Pauls Valley, eight in Duncan, plus one in Wichita Falls, Texas. Montfort would not say how much it paid for them. The seller was Brent Bostick, president of Bostick and Associates.

The Chisholm Corner portfolio is Monfort’s company’s most recent transaction in a series of national gas and convenience store acquisitions. The firm has 78 stores in Colorado, Oklahoma, Texas, Minnesota, and Wisconsin under brands including 7-Eleven, Speedway, Jack’s and Monfort Express.  

“This acquisition represents Monfort Cos.’ ongoing commitment to investing in urban and rural communities alike,” said Kenneth Monfort, executive vice president. “Convenience stores like Chisholm Corner bring economic impact by creating local jobs and generating sales tax revenue that spur long-term vitality in communities across the U.S.”



Read More:Oklahoma convenience stores sell to Denver buyer, other realty deals

2022-12-24 13:01:36

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The wildest California real estate deals of 2022 https://newsdaily.business/2022/12/22/the-wildest-california-real-estate-deals-of-2022/ https://newsdaily.business/2022/12/22/the-wildest-california-real-estate-deals-of-2022/#respond Thu, 22 Dec 2022 07:45:51 +0000 https://newsdaily.business/2022/12/22/the-wildest-california-real-estate-deals-of-2022/ 2022 saw a welcome shift in the real estate market for your average San Francisco buyer. Gone were way over-listed prices and two-week escrows. Power returned to the buyer, as tech layoffs and rising interest rates cooled the craziness of the market of recent years. But the year also saw some very unusual listings across […]]]>


2022 saw a welcome shift in the real estate market for your average San Francisco buyer. Gone were way over-listed prices and two-week escrows. Power returned to the buyer, as tech layoffs and rising interest rates cooled the craziness of the market of recent years. But the year also saw some very unusual listings across the Bay Area and state that caught our eye at SFGATE, including a megastar’s clifftop castle, a house built around a bug-filled oak tree and one very strange room.

In July, a home perched above the rolling hills in Placerville, California, hit the market for around $1 million and immediately caused a stir on the internet.

The 4,400-square-foot, three-bed house at first appeared like many other 1970s hillside homes, but it had one bizarre feature — a giant 2,000-square-foot stark white warehouse lined with seemingly endless shelving, simply named “The Room.”

7652 Kona Court in Placerville, Calif., garnered attention on Twitter due to one of its rooms.

7652 Kona Court in Placerville, Calif., garnered attention on Twitter due to one of its rooms.

Navigate Realty

After the listing was shared on the popular Zillow Gone Wild Twitter account, users were both intrigued and concerned. Some compared it to the home in the psychological thriller “The Handmaiden” or the trophy room in “Dexter: New Blood.” One user drew attention to the metal door leading to “The Room,” which appears to lock from the outside. 

We needed to know more, so we spoke with listing agent Kelli Griggs of Navigate Realty.

“It was an elderly woman who loved stuff,” Griggs revealed. “There were over 25,000 books, 2,000 DVDs, 2,000 VHS. Everything was new in its box.”

One of the rooms at 7652 Kona Court in Placerville, Calif., is a 2,000-square-foot warehouse lined with shelving.

One of the rooms at 7652 Kona Court in Placerville, Calif., is a 2,000-square-foot warehouse lined with shelving.

Navigate Realty

Griggs said it took nine months to remove “all the stuff” from the home after the owner died. “She was a collector of all things,” Griggs added. “Shopping apparently gave her great pleasure. It was very tidy and organized and neat. It wasn’t full. It was in anticipation of filling the space, it brought her great joy. It was the craziest thing.”

In the end, the eerie room didn’t completely turn off buyers — records show 7652 Kona Court sold for $750,000 in November. 

Brad Pitt pays $40 million for a clifftop castle

This past summer, one of the biggest movie stars on Earth paid a cool $40 million for a historic clifftop home on the California coast. 

The actor purchased the iconic D.L. James House, hanging over the bluffs in the Carmel Highlands, in a July deal described as “one of the priciest ever closed in the Carmel area” by the Wall Street Journal

The “Once Upon a Time … in Hollywood” star is known for his love of architecture, once revealing, “whilst acting is my career, architecture is my passion.” 

The Mediterranean-style castle was built a century ago by famed Arts and Crafts architect Charles Greene to resemble Tintagel in Cornwall, England — the medieval fortress where King Arthur was conceived, so the legend goes. 

The D.L. James House, which Brad Pitt bought in July for $40 million, was built to resemble King Arthur's legendary birthplace, Tintagel Castle in Cornwall, England. 

The D.L. James House, which Brad Pitt bought in July for $40 million, was built to resemble King Arthur’s legendary birthplace, Tintagel Castle in Cornwall, England. 

Wikimedia Commons

The granite and sandstone castle is the latest addition to Pitt’s properties, which include the reportedly haunted Briarcliff Manor in Los Angeles. Pitt bought the mansion from Cassandra Peterson, better known as horror hostess Elvira.



Bay Area’s ‘Western White House’ sells for $10 million under asking

One of the grandest estates, in one of the wealthiest enclaves in the country, sold in September for “only” $15 million — $10 million under asking — after spending a year on the market

The 25,000-square-foot, 24-room mansion stands on almost 3 acres of land at 401 El Cerrito Ave. in Hillsborough. After a fire severely damaged it in the 1920s, the huge home was remodeled by famed architect Julia Morgan at the behest of George Hearst to resemble the White House. Morgan had previously designed the even more opulent Hearst Castle for Hearst’s father, William Randolph Hearst.

The "Western White House" in Hillsborough, Calif., sold in September for $15 million — $10 million under asking.

The “Western White House” in Hillsborough, Calif., sold in September for $15 million — $10 million under asking.

Danny Chung

The exterior was a shift for Morgan away from her famed wood and stone elevated Craftsman homes. Its Georgian Colonial design echoes Washington’s White House, as do its cherry trees and its Oval Office-like library. 

The building’s interior features an abundance of marble and silk. The home’s four floors are served by both dramatic staircases and an elevator. Hanging from the ceilings are three cut-glass chandeliers. According to real estate expert Bradley Inman, Morgan even cut a trap door in the third floor above the formal dining room so that workers could raise and lower the chandelier to clean it.

Penthouse apartment in iconic Oakland flatiron building sells

Triangular flatiron buildings, typically found where two downtown thoroughfares meet, often evoke Manhattan, specifically the original flatiron on Broadway and Fifth Avenue in New York City.

Here in the Bay Area, the most famous example is probably the copper-green Sentinel Building, home to Francis Ford Coppola’s film company American Zoetrope, on Columbus Avenue in San Francisco.



Read More:The wildest California real estate deals of 2022

2022-12-22 00:06:10

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What’s happening with one of Uptown Dallas’ biggest development deals? https://newsdaily.business/2022/12/09/whats-happening-with-one-of-uptown-dallas-biggest-development-deals/ https://newsdaily.business/2022/12/09/whats-happening-with-one-of-uptown-dallas-biggest-development-deals/#respond Fri, 09 Dec 2022 18:52:48 +0000 https://newsdaily.business/2022/12/09/whats-happening-with-one-of-uptown-dallas-biggest-development-deals/ Developers appear to have hit the pause button on one of Uptown Dallas’ largest high-rise projects. More than two years ago, Trammell Crow Co. announced plans for the 27-story McKinney Avenue office and retail tower. The almost 700,000-square-foot building would replace the Truluck’s restaurant at the corner of Maple Avenue. The $200 million high-rise was […]]]>


Developers appear to have hit the pause button on one of Uptown Dallas’ largest high-rise projects.

More than two years ago, Trammell Crow Co. announced plans for the 27-story McKinney Avenue office and retail tower.

The almost 700,000-square-foot building would replace the Truluck’s restaurant at the corner of Maple Avenue. The $200 million high-rise was planned as a headquarters for Dallas-based commercial property firm CBRE Group.

But after obtaining zoning for the project and incentives toward the construction, work on the tower has not proceeded.

Previous filings with the city and state called for a groundbreaking earlier this year.

Crow Co. officials declined to comment on the status of the development.

Real estate information firm CoStar recently questioned whether the tower project is still alive.

The tower would have to be completed by the end of 2024 to receive the city economic incentives.

CBRE Group, which owns Trammell Crow Co., moved its headquarters from California to Dallas in 2020 and is located in another McKinney Avenue office building. The international commercial property firm recently announced that it’s taking $400 million in cost reductions because of the deteriorating economic environment.

Since the Uptown project was announced, interest rate hikes by the Federal Reserve have dramatically increased the cost of new development.

While the Uptown Dallas deal has languished, Crow Co.’s High Street Residential is moving ahead with a 4-acre mixed-use project north of downtown on Knox Street that includes offices, residential, retail and a hotel.

In Plano’s Legacy business park, CBRE is looking for tenants to sublease a new 327,000-square-foot office tower that was built for Reata Pharmaceuticals. The drug company had planned to locate its headquarters in the high-rise but decided to put that move on pause.

While Crow Co.’s McKinney Avenue high-rise has stalled, other Uptown Dallas developers have pushed ahead with new projects.

Just two blocks from the Crow tower site on Cedar Springs Road, developer Granite Properties has begun construction on its 626,000-square-foot 23Springs office and retail project. And developer Hines is including new office in its redevelopment of the historic Maple Terrace building.

Stream Realty Partners is building a 12-story office tower plus new retail space in its $100 million Quadrangle redevelopment.

Developer Harwood International is building its 27-story Harwood No. 14 office tower on Harry Hines Boulevard and has already signed several large leases with business tenants including law firms Haynes and Boone and O’Melveny & Myers and property investor S2 Capital.

CBRE's Trammell Crow Co. plans to build a 27-story office tower at McKinney Avenue and Pearl...
CBRE’s Trammell Crow Co. plans to build a 27-story office tower at McKinney Avenue and Pearl Street just north of downtown.(Pickard Chilton )



Read More:What’s happening with one of Uptown Dallas’ biggest development deals?

2022-12-09 15:01:00

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9th Circuit revives data breach class action against French cryptocurrency wallet provider https://newsdaily.business/2022/12/09/9th-circuit-revives-data-breach-class-action-against-french-cryptocurrency-wallet-provider/ https://newsdaily.business/2022/12/09/9th-circuit-revives-data-breach-class-action-against-french-cryptocurrency-wallet-provider/#respond Fri, 09 Dec 2022 07:27:08 +0000 https://newsdaily.business/2022/12/09/9th-circuit-revives-data-breach-class-action-against-french-cryptocurrency-wallet-provider/ On December 1, the U.S. Court of Appeals for the Ninth Circuit affirmed in part and reversed in part a district court’s dismissal of a putative class action brought against a French cryptocurrency wallet provider and its e-commerce vendor for lack of personal jurisdiction. As previously covered by InfoBytes, plaintiffs—customers who purchased hardware wallets through […]]]>


On December 1, the U.S. Court of Appeals for the Ninth Circuit affirmed in part and reversed in part a district court’s dismissal of a putative class action brought against a French cryptocurrency wallet provider and its e-commerce vendor for lack of personal jurisdiction. As previously covered by InfoBytes, plaintiffs—customers who purchased hardware wallets through the vendor’s platform between July 2017 and June 2020—alleged violations of state-level consumer protection laws after a 2020 data breach exposed the personal contact information of thousands of customers. Plaintiffs contended, among other things, that when the breach was announced in 2020, the wallet provider failed to inform them that their data was involved in the breach, downplayed the seriousness of the attack, and did not disclose that the attack on its website and the vendor’s data theft were connected. The district court held that it did not have jurisdiction over the French wallet provider, and ruled, among other things, that the plaintiffs did not establish that the wallet provider “expressly aimed” its activities towards California in a way that would establish specific jurisdiction, and “did not cause harm in California that it knew was likely to be suffered there.” The district court further held that the fact that the vendor was headquartered in California at the time the breach occurred was not sufficient to establish general jurisdiction because the vendor moved to Canada before the class action was filed. “Courts have uniformly held that general jurisdiction is to be determined no earlier than the time of filing of the complaint,” the district court wrote, dismissing the case with prejudice.

On appeal, the 9th Circuit concluded that dismissal was improper because the French wallet provider’s contracts with California were sufficient to establish jurisdiction under the “purposeful availment” framework. The appellate court explained that because the French wallet provider sold roughly 70,000 wallets in the state, collected California sales tax, and shipped wallets directly to California addresses, the “facts suffice to establish purposeful availment because [the French wallet provider’s] contacts with the forum cannot be characterized as ‘random, isolated, or fortuitous.’” However, the 9th Circuit limited the claims to only those brought by California residents under the state’s consumer protection laws. A forum-selection clause in the French wallet provider’s privacy policy and terms of use documents provided that disputes would be subject to the exclusive jurisdiction of French courts, the appellate court said, which was enforceable except with respect to the class claims of California residents brought under California law “because it violated California public policy against waiver of consumer rights under California’s Consumer Legal Remedies Act.”

The 9th Circuit also determined that the district court abused its discretion in disallowing any jurisdictional discovery concerning the defendant e-commerce vendor. Explaining that the e-commerce vendor employs more than 200 people who work remotely from California, including a data-protection officer (DPO) who may have played a role related to the data breach, the appellate court wrote that “[b]ecause more facts are needed to determine whether those activities support the exercise of jurisdiction, we reverse the district court’s denial of jurisdictional discovery with respect to the DPO’s role and responsibilities and his relationship to [the e-commerce vendor], which processed and stored the data.”

Buckley LLP offers premier enforcement, litigation, compliance, regulatory, and transactional services to financial services institutions and early stage and leading fintech and technology companies, as well as venture capital and private equity funds, investment companies, and corporate and individual clients throughout the world.

Learn more at buckleyfirm.com and subscribe to our InfoBytes newsletter to have the latest news, events, and developments affecting the financial services industry delivered every week to your inbox.



Read More:9th Circuit revives data breach class action against French cryptocurrency wallet provider

2022-12-09 06:24:19

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Involved in a cryptocurrency dispute? Powerful civil remedies available to Ontario individuals https://newsdaily.business/2022/12/01/involved-in-a-cryptocurrency-dispute-powerful-civil-remedies-available-to-ontario-individuals/ https://newsdaily.business/2022/12/01/involved-in-a-cryptocurrency-dispute-powerful-civil-remedies-available-to-ontario-individuals/#respond Thu, 01 Dec 2022 18:55:50 +0000 https://newsdaily.business/2022/12/01/involved-in-a-cryptocurrency-dispute-powerful-civil-remedies-available-to-ontario-individuals/ The rapid growth of cryptocurrency technology and investment has certainly given rise to novel legal issues that Ontario courts need to tackle. In recent years, Ontario courts have seen an increasing number of cases involving cryptocurrency. Amongst the released decisions in this area of the law, two extraordinary remedies, the Anton Piller order and the […]]]>


The rapid growth of cryptocurrency technology and investment has certainly given rise to novel legal issues that Ontario courts need to tackle. In recent years, Ontario courts have seen an increasing number of cases involving cryptocurrency. Amongst the released decisions in this area of the law, two extraordinary remedies, the Anton Piller order and the Mareva injunction, were granted to the plaintiffs in two recent decisions. An Anton Piller order authorizes the immediate search of premises and computers and seizure of relevant documents before the case proceeds. A Mareva injunction immediately freezes a defendant’s assets pending a later determination of liability on the part of the defendant. These two decisions dealing with cryptocurrency show that Ontario courts are not hesitant to grant rare, yet powerful, interim relief in proper cases where the legal tests have been satisfied.

THE ANTON PILLER ORDER

In Cicada 137 LLC v. Medjedovic, 2021 ONSC 8581, the court granted the Anton Piller order sought by the plaintiff without notice to the defendant in relation to the cryptocurrency theft allegedly committed by the defendant.

The plaintiff was a decentralized financial platform that held cryptocurrency tokens for a group of investors of Indexed Finance, a public ledger where transaction details were stored. The defendant was a 19-year old math prodigy with a master’s degree in mathematics from the University of Waterloo. The plaintiff claimed that the defendant took $15 million in cryptocurrency tokens and stored them in a wallet under his control by hacking into the source code of Indexed Finance. The defendant asserted the defence of “Code is Law”, an untested theory that it is lawful to exploit the vulnerability of the programming code to take possession of another person’s cryptocurrency. On this theory, the defendant denied that he had done anything improper.

The court granted an interim preservation order rather than the more rare Mareva injunction to freeze the cryptocurrency. The plaintiff claimed an ownership interest in the allegedly stolen digital tokens and did not seek to freeze the defendant’s other assets. In addition to freezing the cryptocurrency, the court concluded that the test for an Anton Piller order was also met, such that documents and passwords could be located and seized/preserved pending trial.

In Celanese Canada Inc. v. Murray Demolition Corp., 2006 SCC 36, the Supreme Court of Canada set out the four-part test for an Anton Piller order. First, the plaintiff must demonstrate a strong case on its face. Second, the damage to the plaintiff of the defendant’s alleged misconduct, potential or actual, must be very serious. Third, there must be convincing evidence that the defendant has in its possession incriminating documents or things. Finally, it must be shown that there is a real possibility that the defendant may destroy such material before the discovery process.

The court in Cicada 137 LLC held that the plaintiff had established a strong case that the defendant took $15 million in digital assets and had them stored in an electronic wallet that he controlled. The defendant took a very substantial amount of value. In addition, the court found that the defendant was likely to hide the password, most likely on a computer or stored on a memory device, and that it was also reasonable to expect that the defendant may hide or destroy the evidence. This was because of his prior conduct of concealing his planning, transactions and identity in carrying out the electronic theft by using numerous different anonymous usernames and addresses. The court concluded that a search and seizure under independent supervision was necessary to find the password and to prevent the destruction of evidence.

In its reasoning, the court made the following important comments: “This is a very serious matter for which an Anton Piller order is justified. A very substantial amount of value has been taken. Moreover, the plaintiff’s expert provides evidence about the magnitude of hacking of digital assets to date. As this new form of investing and commerce grows, it is fundamentally important to the stability of the economy and the online market place that the integrity of these assets be maintained. The investing and transacting public need assurance that the law applies to protect their rights. Despite what some might think, the law applies to the internet as it does to all relations among people, governments, and others.” These comments demonstrate the court’s willingness to extend legal protection to investors who have suffered damages as a result of the electronic theft of digital assets, such as cryptocurrency.

THE MAREVA INJUNCTION

In Li et. al. v. Barber et. al., 2022 ONSC 1176, the plaintiffs successfully obtained a Mareva injunction without notice to the defendant organizers of the “Freedom Convoy”, preventing them from dissipating and removing the cryptocurrency they had fundraised.

The plaintiffs were residents, employees and business owners in downtown Ottawa, who claimed damages on the basis of the torts of private and public nuisance against organizers, supporters and participants in the “Freedom Convey”, which had blockaded downtown Ottawa for over three weeks.

The plaintiffs sought the Mareva injunction without notice to freeze the assets of the defendants. The three-part test for the Mareva injunction is as follows: first, the plaintiff must show he or she has an apparently strong case against the defendant; second, the defendant has assets in the jurisdiction; and third, there is a serious risk the defendant will dissipate those assets or remove them from the jurisdiction if the order is not granted.

The court concluded that the first branch of the test was satisfied. There was a strong case for establishing liability in nuisance, in that the plaintiffs had endured a substantial interference with their rights. In particular, the residents had endured constant and significant interference with the activities of daily living. The business owners had endured interference with the ability to carry on business and suffered loss of revenue. The employees had suffered loss or reduction of employment and loss of income.

The court held that the funds, whether they were in the form of currency or cryptocurrency, were legally in the possession of the defendants. In fact, the defendants had purposely placed the funds outside the control of any fundraising platform and had been promoting the use of the cryptocurrency such as bitcoin under the mistaken belief that it was untraceable and could not be seized by a court or other legal authority. The court clarified that digital funds are not immune from execution and seizure to satisfy a debt. They can be seized and used to satisfy a debt just like money in a bank account, provided the owner of the account or the bank in question are within the court’s reach (ie. present in Ontario). Many digital institutions, including cryptocurrency exchanges, are within the jurisdiction of the court or are located in jurisdictions where Ontario judgments and orders can be enforced. The defendants in this case are subject to the jurisdiction of the court because they were present in Ontario. The court therefore had the power to stop them from cashing or transferring assets, including cryptocurrency. Accordingly, the second part of the test for a Mareva injunction was also satisfied.

The court found that the evidence of the expert investigator demonstrated that steps had been taken by the defendants to break up, move and distribute funds. Moreover, there was evidence about the plans to distribute funds as soon as possible, in part to benefit the individual protestors, but also to avoid any enforcement activity. The third branch of the test was therefore also met, as the distribution of the funds was imminent and was for the very purpose of dissipating them so that they could not be frozen or seized. In light of the evidence presented by the plaintiffs, the court granted the Mareva injunction.

KEY CONSIDERATIONS 

Ontario private litigants involved in cryptocurrency disputes have two powerful civil remedies available to them in the form of Anton Piller orders and the Mareva injunctions. Illegal activities associated with cryptocurrency have, no doubt, become more prevalent as a result of the rise in popularity of cryptocurrencies. It will be interesting to see what impact the recent precipitous drop in the value of cryptocurrencies and the bankruptcy of a prominent crypto-exchange, FTX, will have on cryptocurrency litigation. Overall, we expect the number of reported cryptocurrency cases to increase significantly in the coming years.

The Blaneys commercial litigation team has recently been involved in a case dealing with cryptocurrency fraud. The plaintiffs were deceived into paying close to C$1.5 million to the organizers of a fraudulent investment platform, who then converted the funds into Bitcoins which were delivered into a deposit address controlled by the organizers. Blaneys brought a motion without notice before the Ontario Superior Court of Justice and successfully obtained a Mareva injunction, restraining the defendants from dissipating their assets. Blaneys continues to work with counsel in other jurisdictions to try to enforce the Mareva injunction in those jurisdictions. That is a difficult and complex process, particularly given that many of the corporate defendants are registered overseas, with very few of them having any presence in Canada.



Read More:Involved in a cryptocurrency dispute? Powerful civil remedies available to Ontario individuals

2022-12-01 18:32:11

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The best Cyber Monday deals you can still get under $100, $50 and $25 https://newsdaily.business/2022/11/29/the-best-cyber-monday-deals-you-can-still-get-under-100-50-and-25/ https://newsdaily.business/2022/11/29/the-best-cyber-monday-deals-you-can-still-get-under-100-50-and-25/#respond Tue, 29 Nov 2022 19:45:55 +0000 https://newsdaily.business/2022/11/29/the-best-cyber-monday-deals-you-can-still-get-under-100-50-and-25/ — Recommendations are independently chosen by Reviewed’s editors. Purchases made through the links below may earn us and our publishing partners a commission. Cyber Monday has come and gone, but there are still a lot of deals still live—for now. Whether you’re ready to splurge on yourself or get a big head start on some holiday […]]]>


Cyber Monday deals are here: shop deals for the home, style and kids.

— Recommendations are independently chosen by Reviewed’s editors. Purchases made through the links below may earn us and our publishing partners a commission.

Cyber Monday has come and gone, but there are still a lot of deals still livefor now. Whether you’re ready to splurge on yourself or get a big head start on some holiday shopping, these Cyber Monday deals under $100 are still valid, and you don’t want to miss them.

There’s a lot more where this came from. Sign up for Reviewed’s Perks and Rec newsletter and we’ll keep deals coming every Sunday through Friday.

Cyber Monday 2022: 150+ best deals you can still shop today

Holiday shopping? These are the best Cyber Monday deals on the best gifts at Amazon

Last Call: 125+ best Walmart Cyber Monday 2022 deals still available

Featured Cyber Monday deals under $100

GAP Baby outfit deal

Cyber Monday deals under $100

For Cyber Monday, GAP is still discounting this cozy and cute two-piece set for the little ones. Reviewers love how soft the material is, and sizing ranges from 0 to 24 months.

Gap Baby Waffle Two-Piece Outfit Set for $17.97 (Save $21.98)

Kate Spade handbag deal

Cyber Monday deals under $100

Kate Spade is offering discounts for Cyber Monday that are still live, and somehow this gorgeous handbag is still in stock in several colors. The size is perfect for the essentials and then some, and it can be held with handles or a shoulder strap.

Kate Spade Tinsel Satchel for $99 (Save $230)

►Cyber Monday 2022: Cyber Monday might be over, but these sales are still live

►The 40+ best Cyber Monday deals you can still get under $100: Shop Amazon, Solo Stove, Nike, Fire TV

Top 10 Cyber Monday deals under $100

  1. AncestryDNA for $59 (Save $40)
  2. Always Pan at Our Place for $95 (Save $50)
  3. Samsung Galaxy Watch5 from $64.99 with eligible trade-in at Samsung (Save $50 to $215)
  4. Solo Stove Mesa for $69.99 at Solo Stove (Save $50)
  5. Food52 Five Two Ultimate Apron with Built-In Pot Holders at Food52 for $35 (Save $10)
  6. Lululemon Align leggings from $29 (Save $29 to $99)
  7. Gap Baby Waffle Two-Piece Outfit Set at Gap for $17.97 at checkout (Save $21.98)
  8. Hydro Flask Wide Mouth Bottle with Flex Cap at Amazon from $30.08 (Save $13.14 to $14.87)
  9. Kate Spade Tinsel Satchel for $99 (Save $230)
  10. Allbirds Women’s Tree Runners at Allbirds from $84 (Save $11 to $21)

Best Cyber Monday deals $75 to $100

Best Cyber Monday deals 2022: Deals under $100

Deals on activewear are active ahead of Cyber Monday. You can get the popular, comfy Allbirds Tree Runners for as little as $84 today, saving up to $21 on a fantastic, sustainably crafted pair of shoes. 

Best Cyber Monday deals $50 to $75

Best Cyber Monday deals 2022: Deals under $75

Indoor and outdoor gifts are on sale post-Cyber Monday. You can entertain your kids indoors with the Amazon Fire HD 8 Tablet, which is $45 off the retail price of $89.99, and entertain adults outdoors with a marked down Solo Stove Mesa for $69.99.

Best Cyber Monday deals $25 to $50

Get everyday essentials and more for under $50 during Cyber Monday 2022.

Will 2023 be the year you finally start meal prepping? Dress the part with the apron that our testers said was the best value (with built-in pot holders and a conversion chart sewn into the pocket), the Five Two Ultimate Apron with Built-In Pot Holders. Are you ready to research your DNA? AncestryDNA kits are selling for more than half of at $49, or a $50 discount.

Best Cyber Monday deals under $25

Shop clothing, tech and other deals under $25 for Cyber Monday 2022.

Entertainment comes with a low price tag this Cyber Week. You can stream series like Abbott Elementary, The Handmaid’s Tale and much, much more for $1.99 with a Hulu subscription, or you can snag our top-rated cold-brew coffee maker, the Takeya Cold Brew Coffee Maker for 20% off.

Cyber Monday 2022: Shopping Guide

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The product experts at Reviewed have all your shopping needs covered. Follow Reviewed on Facebook, Twitter, Instagram, TikTok or Flipboard for the latest deals, product reviews and more.

Prices were accurate at the time this article was published but may change over time.





Read More:The best Cyber Monday deals you can still get under $100, $50 and $25

2022-11-29 19:37:42

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