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July 12 - According to Iranian media reports on the 12th, Iran launched a series of strikes against US targets in the Middle East.July 12th - At the World Artificial Intelligence Conference (WAIC 2026), to be held in Shanghai from July 17th to 20th, Baidu AI will showcase its full suite of Intelligent Agents, comprehensively presenting the latest achievements of Intelligent Agents from technological upgrades and application development to industrial empowerment. Simultaneously, Baidus "Chip-Cloud-Model-Agent" full-stack AI product matrix will also release new upgrades at WAIC, demonstrating Baidu AIs progress from underlying technological innovation to large-scale implementation in industrial scenarios and personal applications. At this years WAIC, multiple Baidu Intelligent Agent products will be showcased and upgraded, further improving the Intelligent Agent toolchain, lowering the barriers to application development and use, and helping more developers quickly transform their ideas into products, evolving into super-individuals in the AI era.Market news: Ukrainian drones attacked Russias Sizlan oil refinery.Conflict Status: 1. The Ukrainian military claims to have hit 21 Russian oil tankers overnight. 2. The Russian Ministry of Defense: Russian troops have taken control of Bachivsk in the Sumy region of Ukraine. 3. The mayor of Kyiv, Ukraine: Russian bombings have struck several areas of the capital, injuring six people. 4. According to RIA Novosti: Ukrainian forces launched 41 attacks on Russias Belgorod region in one day, intercepting 47 drones. 5. The Ukrainian Foreign Minister: Russia attacked Kyiv with ballistic missiles and Sumy with guided-missile bombs. At least four people were killed and seven injured. Other Developments: 1. The Ukrainian army will establish a special command and joint rapid reaction force. 2. Russia claims to have contacted Turkey regarding the deployment of the S-400 air defense missile system. 3. A former senior Pentagon official: Kyiv will be unable to produce Patriot missiles for the next few years. 4. The Russian Ministry of Defense: The successful strikes confirm the Russian militarys ability to strike any target throughout Ukraine. Zelenskyy has deployed almost all available Western missile defense systems to Kyiv. 5. Kremlin: Nuclear weapons will be used if there is any threat to the existence of the Russian state. Otherwise, they will not be used. Everything else is pure speculation.July 12 - According to a US source on July 11, a senior US official stated that the US military successfully struck Iranian air surveillance radar, missile and drone storage facilities, missile and drone launch sites, maritime surveillance radar, and surface-to-air missile launchers that day.

After A Record Loss, Star Entertainment Raises $545 Million And Suspends Dividends

Skylar Williams

Feb 23, 2023 13:54

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Star Entertainment Group Ltd. announced that it would raise A$800 million ($545 million) to repay debt and suspend dividend payments, as it reported a record statutory loss for the first half of the year due to challenging business conditions in Sydney.


Star, Australia's second-largest casino operator, has seen its profits eroded by regulatory restrictions on its Sydney operations beginning in mid-September and intense competition from larger competitor Crown Resort, which began operations in Sydney in August.


The capital raising, which consists of a A$685 million 3-for-5 rights offer and a A$115 million institutional placement, will enable Star to repay debt and increase liquidity, the company announced Thursday. End of 2022, it had a net debt of A$1.11 billion.


Capital-raising shares are being sold at $1.20 each, which is 21% below Star's most recent closing price of $1.50.


Star stated that major shareholders Chow Tai Fook Enterprises and Far East Consortium have exercised their rights and committed $80 million to the capital raise.


Star reported a record statutory net loss after tax of A$1.26 billion for the six months ended December 31, compared to a loss of A$74,2 million a year earlier.


Star had previously warned of an impairment charge of up to A$1.6 billion in the first half as a result of a proposal by the New South Wales government to increase taxes on casino poker machine operators. Sydney is the state's capital.


Tax resolution with the New South Wales government remains the most important catalyst for investors, according to Jefferies analysts.


In the first half, the casino operator wrote down the goodwill of its Sydney casino from A$851 million to zero.


In an effort to reduce its debt, the company announced it would suspend dividend payments, and its casino licences were in full operation.


The company posted a normalised nett profit after taxes of $43,6 million, compared to A$73,7 million in losses in the prior year.


Thursday is a trading suspension for Star shares while the capital raise is in progress.

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