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Investing In Rolex Watches: A Secure Path In Times Of Crisis?

Alex
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0
Investing In Rolex Watches: A Secure Path In Times Of Crisis?


In times of crisis, seeking secure and rewarding investment opportunities becomes paramount. While traditional assets like real estate and gold remain popular choices, luxury watches, particularly Rolex, have garnered significant attention as a lucrative investment. Rolex, the epitome of luxury watchmaking, not only boasts precision, durability, and elegance but also holds a prestigious image, making it a sought-after collector’s item.

Why Choose Rolex as an Investment?

Rolex consistently holds its position as the number one luxury watch brand globally. According to Forbes, Rolex was the sixth most popular online luxury brand in 2023, as it was in 2022. It claims the top spot among the largest and most beloved luxury watch manufacturers. The Swiss manufacturer’s products are renowned for their quality, and the prestigious image associated with Rolex watches elevates them to coveted status among collectors.

Renowned adventurers and athletes have trusted Rolex throughout history. The climbers who first conquered Mount Everest in 1953 wore Rolex, and in 1960, when Jacques Piccard and Don Walsh descended into the depths of the Mariana Trench, a specially crafted Rolex accompanied them. Such feats have contributed to Rolex’s iconic status, evidenced in the sustained enthusiasm for these timepieces and reflected in the appreciating values of various models. For instance, the value of the Rolex Daytona reportedly increased by 77% from 2017 to 2022, according to Chrono24.

Factors Influencing Rolex Prices

Despite Rolex’s annual production of approximately 800,000 watches, global demand consistently outpaces supply, leading to lengthy waiting lists for potential buyers. This scarcity significantly influences the prices, causing certain highly sought-after Rolex models to deviate significantly from their retail prices. Potential buyers should be prepared for possible wait times or consider purchasing pre-owned watches.

Rolex Models with Stability and Potential for Growth

Not all Rolex watches are equal in terms of investment potential. Here, we present a selection of Rolex models known for their stability and the potential for future appreciation. The information is curated from independent rankings by American Express, Chrono24, GQ, Watchmaster.com, and Watch.de. However, it is crucial to conduct thorough research before purchasing, considering factors such as the current market value, authenticity, condition, and the reputation of the seller.

1. Rolex Daytona

The Daytona stands as one of the most iconic Rolex models, attributed in part to its association with Paul Newman, a renowned actor and racing enthusiast. According to Watch.de, the Daytona series is particularly promising as an investment due to its limited availability, often leading to long waiting periods. Prices for the Rolex Daytona surged by around 77% from 2017 to 2022, as reported by Chrono24. GQ also emphasizes the stability of the Rolex Daytona, suggesting that a newly purchased Daytona at the retail price could be resold for nearly double the initial cost.

2. Rolex GMT-Master & GMT-Master II

Both the Rolex GMT-Master and GMT-Master II are deemed worthwhile investments, according to Chrono24. The prices of the Rolex GMT-Master 1675 saw remarkable increases throughout 2022. GQ recommends the Rolex GMT-Master II, particularly highlighting the models known as “Pepsi” (Reference 126710BLRO) and “Batman” (Reference 116710BLNR), named after the colors of their bezels.

3. Rolex Submariner

Rolex stainless steel sports models, according to American Express and Watch.de, are highly sought after. Watch.de recommends the Rolex Submariner as an investment, with the “Hulk” model (Reference 116610LV) experiencing significant value appreciation since its production was discontinued in the fall of 2020.

4. Rolex Explorer II

The Rolex Explorer II, another sports model, has seen its value rise by 70% between 2017 and 2022, as reported by Chrono24. GQ particularly recommends the Explorer II with Reference 216570, while the predecessor with Reference 16570 remains in high demand, according to Chrono24. Watch.de notes that variants with a white dial are rarer and consequently more sought after than those with a black dial.

Considerations for Rolex Investments

Even with a chosen Rolex model known for stability, several considerations must be taken into account to ensure a fruitful investment. Proper care is essential to maintain the watch’s value, as scratches and other signs of wear can diminish its worth. Experts recommend servicing a Rolex every eight to ten years to ensure optimal functionality.

If the Rolex is primarily viewed as an investment rather than for daily use, storing it securely in a safe is advisable. Seeking the advice of an expert, such as a watchmaker, is also recommended. An expert can assist in identifying potential counterfeits and evaluating the quality of any replacement parts used.

In conclusion, investing in Rolex watches can indeed be a secure and rewarding endeavor during times of crisis. However, thorough research, care, and expert guidance are crucial elements to maximize the returns on such luxury investments

Russian High-Risk Payment Processor Advcash Under Scrutiny!

bluechipper
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Russian High-Risk Payment Processor Advcash Under Scrutiny!

Advcash is a high-risk payment processor controlled by Russians. The offshore entities Advanced Cash Limited in Belize and Second February Limited in Seychelles officially operate the service. The spin-off Adv2 is operated by Payean Finance Inc. in Canada and Payean UAB in Lithuania, catering to the crypto wallet market. According to FinTelegram, U.S. authorities are investigating the Advcash scheme over money laundering and sanctions evasion.

Beneficial Ownership

Historically, Russians Artem Abramov (Артем Абрамов) and Artem Shulepov (Артем Сергеевич Шулепов) were considered to be the beneficial owners of Advcash. Following Abramov’s alleged death, Shulepov appears to be the sole beneficial owner.

The Advcash US Connections

Advcash claims that it would not operate in the U.S. However, its connection to the U.S. national Yaacov Bitton suggests a different narrative. Public records from LinkedIn, Crunchbase, and other sources indicate Bitton’s role as the CEO of Advcash starting in 2012.

Bitton is also connected with NVB Channel, a Moscow-based financial operation, and his interest in the ICO for Bitconnect. This project ultimately failed and faced legal complications.

Bitton was a director of Adv Services LLC in Washington State, founded in 2011. This company, which was granted a money transmitter license, continued its operations until its dissolution in 2020. Artem Abramov was another director of this Florida-based entity.

The European Connections

Advcash in Malta as revealed by the Paradise Papers

Advcash‘s early European footprint emerged in the Paradise Papers, with its registration in Malta in 2017, aligning with Binance‘s relocation there in 2018 for banking purposes, which had been unattainable in Japan. Advcash sustained its legal presence in Malta until 2023.

In May 2023, the launch of ADV2 marked a significant expansion. This platform is operated by Payean Finance Inc., a Canadian entity registered with FINTRAC as a Money Services Business (MSB), and Payean UAB in Lithuania, registered as a virtual currency exchange operator with the Lithuanian Financial Crime Investigation Service.

ADV2 maintains a close integration with Advcash, allowing seamless verification and card transfer for its users, hinting at possible personnel overlaps between the two systems.

ADV2 operator Payean Finance with Aleksandr Kauzov

Key individuals of Advcash’s European operations are Estonian nationals Olga Belova and Natalja Kauzova, along with Kauzova’s son, Aleksandr Kauzov. Belova and Aleksandr Kauzov serve as directors of Payean Finance Inc. in Canada, while Natalja Kauzova heads the Lithuanian counterpart, Payaen UAB, which operates the ADV2 crypto payment platform.

Olga Belova, a central figure in the Advcash network, has a decade-long history with the now-defunct NordPay Financial Ltd, a formerly FCA-regulated payment institution. Currently under investigation in Estonia for alleged money laundering facilitation, Belova has played a crucial role in Advcash’s operations and the launch of ADV2.

The collapse of NordPay Financial is attributed to Belova’s connection with Advcash.

Unconfirmed reports suggest that Estonian bank accounts associated with Belova and Kauzova have been frozen.

Another significant player in the Advcash network is Norman Buhagiar from Malta, who is closely associated with Belova. He serves as a director of Finatex Malta Limited, paralleling Belova’s management role in its Estonian sister company, Finatex OÜ. Both Belova and Buhagiar are directors and beneficial owners of Kaupmehe Invest, an Estonian consulting and technology firm specializing in payment solutions.

Investigations

Sources have informed us that Advcash is currently the subject of an investigation in the United States, particularly concerning its transactional activities via Binance. Recent reports indicate that Binance is obligated to disclose approximately 100,000 transactions flagged as suspicious and is under a five-year monitoring period by the Financial Crimes Enforcement Network (FinCEN). Given Advcash‘s longstanding partnership with Binance, this scrutiny appears justified and logical.

Share Information about Advcash

French fintech Aria raises €15 million

Alex
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0
French fintech Aria raises €15 million

French fintech Aria has recently closed a successful €15 million funding round, signaling a significant stride in its mission to reshape the landscape of business-to-business (B2B) payments within the platform economy and B2B marketplaces. The funding, led by 13books Capital and featuring prominent participation from Adevinta Ventures, Ankaa Ventures, Otium Capital, as well as angel investors such as Laurent Ritter, Mark Ransford, and former Stripe executive Guillaume Princen, will empower Aria to expand its deferred payment infrastructure and further enhance its services.

Aria’s Vision and Current Operations:

Established in 2019, Aria has been at the forefront of bridging the payment gap prevalent in the B2B sector. The fintech firm collaborates with over 100 platforms to address the discrepancy between when suppliers require payment and when buyers prefer settling their invoices. Aria’s innovative solution integrates directly into the platforms’ systems, facilitating instant direct payments to suppliers across Europe. Importantly, it grants buyers the flexibility of up to 90 days to fulfill their payment obligations for goods and services.

Impressive Growth and Market Impact:

In the past 12 months, Aria has experienced substantial growth, both in its home country of France and since its expansion into the UK. During this period, the fintech company has successfully processed over €0.5 billion in payments, benefiting more than 30,000 businesses and freelancers. The range of invoices handled by Aria spans from €500 to €20,000, demonstrating its adaptability across diverse business scales.

Furthermore, Aria’s impact is amplified by its strategic partnerships and the trust placed in it by investors. The fintech firm is backed by a robust €150 million debt facility, with support from notable investors like M&G Investments.

Clément Carrier, CEO and co-founder of Aria emphasized the uniqueness of Aria‘s approach in the B2B payments landscape. He stated, “While B2B payment volume is 5x the size of B2C retail payments, only 7% of B2B commerce is transacted online.” Aria aims to change this by replacing outdated B2B payment methods with a seamless online experience that mirrors consumer transactions. With Aria‘s suite of tools, companies can process any payment method, offer flexible net terms financing, and receive instant payments—all within a unified online platform.

The Injection

With the recent injection of €15 million in funding, Aria seems well-positioned to continue its trajectory of reshaping B2B payments in the platform economy. The fintech firm’s success in processing substantial payment volumes and its commitment to providing a user-friendly, B2C-like experience positions it as a key player in the evolving landscape of digital B2B transactions. As Aria expands its reach and refines its services, it has the potential to unlock new possibilities for businesses, freelancers, and platforms operating within the dynamic realm of the platform economy and B2B marketplaces.

The Crux of Elon Musk’s Fortune: Tesla’s China Connection and the Risk of a Domino Effect!

Adrian Fuller
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The Crux of Elon Musk’s Fortune: Tesla’s China Connection and the Risk of a Domino Effect!

In an insightful essay by Linette Lopez for Business Insider, the financial saga of Elon Musk, one of the world’s wealthiest individuals, is dissected, emphasizing a crucial hypothesis: Musk’s fortune, and by extension his business empire, owes much to Tesla’s success in China, which may now be a double-edged sword. FinTelegram even thinks it is possible that Musk’s empire might crash due to high-interest payments and poor cash.

The hypothesis posits that the linchpin of Musk’s wealth was the establishment of Tesla‘s Shanghai Gigafactory. This strategic move, facilitated by the Chinese government, enabled Tesla to mass-produce vehicles at lower costs, thereby boosting profits and skyrocketing Tesla’s stock value. The soaring share prices of Tesla became Musk’s financial powerhouse, allowing him to fund and leverage his other ventures like SpaceX and Twitter, either through selling shares or using them as collateral for loans.

However, this interconnected financial structure, built on the bedrock of Tesla’s success, carries inherent risks. As Musk’s wealth is heavily tied to Tesla’s stock, any faltering in Tesla’s performance, especially in the increasingly competitive EV market, could trigger a domino effect on his other businesses.

The article highlights the current challenges Musk faces, particularly with the acquisition of Twitter. The platform is burdened with debt and operational issues, creating a financial strain. Given the economic climate of rising interest rates and Musk’s significant portion of Tesla shares pledged against personal debts, there’s a growing concern about the sustainability of his empire.

The analysis also underscores the importance of Tesla‘s market position. With Tesla facing competition and a potential decrease in market share, the company’s profitability and stock value are under scrutiny. Should Tesla stumble in this competitive landscape, it could lead to a ripple effect, impacting Musk’s ability to support his other ventures.

In summary, Lopez’s essay presents the hypothesis that Elon Musk’s fortune, largely built on Tesla’s success in China, is now at a crossroads. The interdependence of Musk’s ventures on Tesla’s stock as a financial cornerstone poses a significant risk. If Tesla’s performance falters, it could potentially destabilize Musk’s entire business ecosystem, challenging the resilience of his empire in the face of shifting market dynamics.

A New Approach: Airbnb Launches Pay Over Time With Klarna In The UK 

Alex
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0
A New Approach: Airbnb Launches Pay Over Time With Klarna In The UK 


In a groundbreaking collaboration, Airbnb and Klarna have recently unveiled their latest venture—Pay Over Time with Klarna—a novel approach to reshaping the way guests in the UK manage the cost of their reservations. This strategic partnership is poised to make unique stays around the world more accessible, with a phased global roll-out set to extend this alternative payment method across three continents by early 2024.

The Evolution of Pay Over Time:

Originally introduced in North America during Airbnb‘s 2023 Summer Release, Buy-Now-Pay-Later (BNPL) a/k/a Pay Over Time provider Klarna is now extending its reach to the UK, allowing guests to conveniently spread the cost of their stay across three interest-free installments over a two-month period. This marks a significant shift in the way individuals plan and budget for their trips, offering greater flexibility and financial ease.

Seamless Booking with Klarna’s Payment Solutions:

Klarna‘s reputation for providing seamless and flexible payment solutions takes center stage in this collaboration. Whether booking a charming windmill in Wales, a treehouse retreat in Thailand, or a futuristic UFO stay in the US, guests now have an array of payment options to choose from, making the booking process more accessible than ever before.

Amanda Cupples, General Manager of Northern Europe, expressed her enthusiasm for this new payment method, stating, “We’re pleased to bring Pay Over Time with Klarna to the UK, giving guests greater flexibility to spread their payments over a number of weeks or months. Whether you’re booking a solo trip or organizing a get-together with friends, choosing the right payment plan has just become a lot easier.“

Pay Over Time with Klarna has already made its mark in eight other European countries, including Czechia, France, Germany, Greece, Ireland, Italy, Portugal, and Spain. This success is expected to pave the way for further expansion, with additional countries slated to join the roster early next year. As of today, this innovative payment solution is available to guests in the UK for reservations priced between £35 and £4,000.

Airbnb and Klarna‘s Pay Over Time represents a significant stride towards meeting the diverse needs of modern travelers. By introducing a flexible, interest-free payment option, this collaboration not only enhances the booking experience but also sets a precedent for the industry, redefining how individuals plan and pay for their dream getaways. As the phased global roll-out continues, Pay Over Time with Klarna is poised to become a game-changer, making unique stays more accessible to a global audience.

Payment Company SumUp Breaks Through Fintech Slump with €285M Fundraising And €8B Valuation!

Alex
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0
Payment Company SumUp Breaks Through Fintech Slump with €285M Fundraising And €8B Valuation!
  • British payments startup SumUp has raised €285 million ($306.6 million) in an investment led by Sixth Street Growth and Bain Capital Tech Opportunities.
  • SumUp Chief Financial Officer Hermione McKee said the fresh capital gives the company “more firepower to act on opportunities,” including acquisitions and new country launches.
  • SumUp confirmed the company is worth more than it was when it raised €590 million ($635.3 million) at an 8 billion ($8.6 billion) valuation in summer 2022.


As reported by PayRate42, British payments startup SumUp has successfully secured €285 million ($306.6 million) in its latest funding round, led by Sixth Street Growth, the growth arm of global investment firm Sixth Street. This round values SumUp at over $8.6 billion, further building on its valuation from the summer of 2022, when it was last valued at €8 billion ($8.6 billion). The company’s existing investors, including Bain Capital Tech Opportunities, Fin Capital, and Liquidity Group, also participated in the funding round.

Learn more about SumUp on PayRate42 here.

SumUp, widely recognized for its small card readers, plans to utilize the fresh capital to pursue various growth opportunities over the next two years. The company has been on an expansion spree, recently entering its 36th global market with the launch in Australia. SumUp’s CFO, Hermione McKee, emphasized the potential for further expansion in Latin America, Asia, and Africa and hinted at exploring a “buy versus build” strategy.

This funding round is considered a significant achievement, especially in the context of the challenging environment for European technology valuations. The company’s ability to secure an “up round,” where the valuation is higher than before, stands out amid declining median valuations in the European tech sector.

SumUp, a direct competitor to prominent payment companies like Square, PayPal’s iZettle, FIS’ WorldPay, Stripe, and Adyen, has diversified its business offerings. In addition to its core payment services, SumUp has entered the lending space, providing cash advances and business loans to merchants based on their card sales revenues.

Looking ahead, SumUp plans to explore merger and acquisition opportunities to fuel its global expansion. McKee stated that M&A is always on the table, and the company is open to both building an ecosystem and making strategic acquisitions.

Despite its remarkable growth and valuation, SumUp currently has no immediate plans to go public. McKee emphasized the company’s access to private pools of capital and stated that while they are constantly improving processes to meet public market standards, an IPO is not imminent or actively planned at this time. SumUp intends to leverage its current funding to maintain flexibility and capitalize on growth opportunities in the private markets.

Luxury Watches And Crypto: A Tale of Millennial and Gen Z Investors!

Lucas Peterson
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Luxury Watches And Crypto: A Tale of Millennial and Gen Z Investors!

Introduction

Financial intelligence magazine FinTelegram published an interesting piece about luxury watches and crypto. In recent years, the luxury watch market has experienced significant turbulence. Parallel to the cryptocurrency boom between 2020 and 2022, the prices of luxury watches also soared, indicating a new trend among millennial and Gen Z investors. This article delves into the development of the secondary market for luxury watches, its peak during the crypto hype, and the subsequent collapse following the downfall of cryptocurrency prices.

The Surge in Luxury Watch Investments

Boston Consulting Group says luxury watches represent a $75 billion market
BCG report on luxury watches (

The luxury watch market witnessed a massive increase in demand, particularly among younger investors. According to a Boston Consulting Group (BCG) report, luxury watches represent a $75 billion market, of which the secondary market is 30% and growing.

A report by Grand View Research valued the global luxury watch market at USD 42.21 billion in 2022, with a projected compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. This surge was fueled partly by millennials and Generation Z, who discovered luxury watches as an investment opportunity alongside cryptocurrencies.

A Boston Consulting Group (BCG) report found that 54% of Gen Z and millennial buyers increased their spending on luxury watches in the past two years. This growing interest was not limited to men; women showed a significant inclination towards upgrading their luxury watches, driving companies to expand their offerings for this segment.

The New Alternative Investment Paradigm

This relationship between the crypto and luxury watches markets can be primarily attributed to the investment behaviors of younger generations who are simultaneously engaged in both markets. The following key points underpin this hypothesis:

  1. Shared Investor Base: The same demographic – millennials and Gen Z – attracted to cryptocurrencies and luxury watches is also likely to engage with luxury watch NFTs. This overlap suggests that investment decisions in one market could influence the others.
  2. Digital-Physical Asset Fusion: The emergence of luxury watch NFTs creates a bridge between tangible luxury goods and digital assets. Movements in the cryptocurrency market could directly impact the perceived value and demand for luxury watch NFTs, which in turn could influence the traditional luxury watch market.
  3. Market Dynamics Synergy: The luxury watch market’s shift towards NFTs could be both a result of and a contributing factor to the trends observed in the cryptocurrency market. This synergy could lead to a feedback loop, where the growth of one sector fuels the others.

It can be hypothesized that a resurgence in cryptocurrency market prices, as observed since mid-2023, will not only positively impact the secondary market prices for physical luxury watches but also boost the interest and value of luxury watch NFTs. This trend would reflect the increasing integration of digital and traditional investment assets in the portfolios of younger investors.

Peak and Collapse: A Mirror to the Crypto Market

With the collapse of the first crypto schemes and the start of the crash in crypto prices in spring 2022, the prices of luxury watches on the secondary market also collapsed.

The peak of the luxury watch market coincided with the height of the cryptocurrency craze. In March 2022, the average price of a luxury watch in the secondary market reached a staggering $46,700, with certain models selling for up to five times their retail value. Brands like Rolex, Patek Philippe, and Audemars Piguet saw their iconic models reach record highs. However, this peak was short-lived.

By early December 2023, luxury watch prices in the secondary market plummeted to a near two-year low. According to WatchCharts, a luxury watch price tracker, the average price of a watch sold secondhand has fallen by almost 37% since March 2022.

The downturn was particularly severe for iconic Rolex, Patek Philippe, and Audemars Piguet models. Experts noted that the influx of sellers in response to high prices led to a tripling of supply for the most iconic pieces, contributing to the price drop.

Not a Burst, But a Correction

Despite the sharp decline, experts like Pierre Dupreelle from Boston Consulting Group suggest that this isn’t a bubble burst but a market correction. While prices have fallen significantly from their peak, they remain higher than pre-pandemic levels. As the economy stabilizes, there’s potential for these prices to stabilize and possibly rise again.

Conclusion

The secondary market for luxury watches has undergone significant changes in the past few years, heavily influenced by the trends in cryptocurrency and the pandemic. While the current prices may offer a buying opportunity for a new generation of collectors, it remains to be seen how the market will stabilize in the long term. This trend highlights the evolving nature of investment and luxury spending among younger generations, signaling a shift in traditional investment mindsets.

The Ultimate Human: Can Baking Soda And Apple Cider Vinegar Improve Your Health?

Clara Bennett
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The Ultimate Human: Can Baking Soda And Apple Cider Vinegar Improve Your Health?

In the search for the Ultimate Human, nutrition is the single most important source. In the world of natural health remedies, few ingredients have garnered as much attention as baking soda and apple cider vinegar. Touted for their array of health benefits, these pantry staples have become the go-to solutions for many health enthusiasts. In this article, we delve into the latest research on these popular remedies and explore the pros and cons of combining them.

Baking Soda: A Versatile Alkaline Powerhouse

Baking soda, or sodium bicarbonate, is celebrated for its alkalizing properties. It has a variety of household uses aside from cooking. It can provide health benefits and may also relieve certain health conditions, including canker sores. Baking soda has been linked to various health benefits when taken on its own. For instance, research suggests that using it as part of a mouth rinse may help prevent the loss of tooth enamel.

In addition, baking soda may help improve exercise performance during short-duration, high-intensity exercise. Baking soda supplements may also help slow the progression of chronic kidney disease, as well as the growth of cancerous cells. However, more research is needed before strong conclusions can be made.

Apple Cider Vinegar: More Than Just a Kitchen Staple

Apple cider vinegar, made from fermented apple juice, is rich in acetic acid. Its health benefits are wide-ranging, from improving insulin sensitivity to aiding weight loss.

Apple cider vinegar has been used for centuries in cooking and natural medicine. It may have some health benefits, including aiding weight loss, reducing cholesterol, and lowering blood sugar levels.

Vinegar can help kill pathogens, including some strains of bacteria. People have traditionally used vinegar for cleaning and disinfecting, treating nail fungus, lice, warts, and ear infections. Hippocrates, the father of modern medicine, used vinegar to clean wounds more than 2,000 years ago. Vinegar is also a food preservative. Studies show it inhibits bacteria like E. coli from growing in and spoiling food. However, little research exists, and further studies are needed before it can be recommended as an alternative therapy.

Combining Baking Soda and Apple Cider Vinegar: Pros and Cons

The combination of baking soda and apple cider vinegar creates a chemical reaction that can offer unique health benefits, but there are considerations to keep in mind:

Pros:

  1. pH Balance: Combining these two can create a balanced pH solution, potentially aiding in neutralizing acidity in the body.
  2. Digestive Aid: This mixture might help in relieving bloating and gas by neutralizing stomach acids.

Cons:

  1. Potential for Harm: The reaction between baking soda and apple cider vinegar can produce carbon dioxide gas, which may lead to bloating and gas if consumed in large quantities.
  2. Acidity Levels: While apple cider vinegar is beneficial, its high acidity can be harmful to tooth enamel and the esophagus, especially when combined with baking soda.

Safety and Recommendations

While both ingredients are generally safe for most people, it’s essential to use them in moderation. Overconsumption of baking soda can lead to alkalosis, a condition caused by too much alkalinity in the body, while excessive apple cider vinegar can lead to tooth enamel erosion and throat irritation.

As with any natural remedy, it’s crucial to consult with healthcare professionals before incorporating these into your health regimen, especially if you have pre-existing health conditions or are taking medications.

Conclusion

Baking soda and apple cider vinegar offer an array of health benefits, from aiding digestion to potentially enhancing athletic performance. However, their combination should be approached with caution and awareness of the potential side effects. Remember, moderation and informed use are key to harnessing the benefits of these natural remedies. Stay tuned to The Cyber Voice for more insights into the world of health and wellness.

High-Profile Art Feud Settled: Rybolovlev and Bouvier Reach Agreement

Adrian Fuller
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High-Profile Art Feud Settled: Rybolovlev and Bouvier Reach Agreement

In a dramatic turn of events, the high-stakes legal battle between Russian art aficionado Dmitry Rybolovlev and Swiss art dealer Yves Bouvier has reached a conclusive end. The duo has officially settled their multi-jurisdictional disputes out of court, putting an end to a saga that has captivated the art world, the FinTelegram reports.

Dmitry Rybolovlev, a name synonymous with luxury and opulence thanks to his mining empire and ownership of the AS Monaco soccer club, had accused Bouvier of a billion-euro art swindle. At the heart of this dispute was the staggering sale of 38 artworks, including the enigmatic “Salvator Mundi” by Leonardo da Vinci, which later sold for a record $450.3 million.

The Russian billionaire’s claims against Bouvier were not just confined to personal allegations; they extended to the prestigious auction house Sotheby’s in New York. In a plot worthy of a thriller, the “Salvator Mundi” had a notable stopover at Sotheby’s in 2013, where Bouvier allegedly purchased it for $83 million, only to sell it to Rybolovlev for a whopping $127.5 million, pocketing the substantial difference.

The Geneva public prosecutor’s office, led by Yves Bertossa, announced on December 7 the closure of the case. This followed the prosecutor’s recommendation for a settlement, citing insufficient grounds for a criminal case. On November 20, both parties agreed to withdraw all complaints, marking a significant moment in this high-profile dispute.

Despite the settlement, details remain under wraps due to a non-disclosure agreement. However, Bouvier’s lawyer, David Bitton, hailed the resolution as a “complete victory,” emphasizing that all allegations were dismissed globally, and no court proceeded to a full trial.

Bouvier himself expressed relief, stating that this marks the end of a “nine-year nightmare,” and thanked the judicial authorities for allowing “true justice” to prevail. This sentiment echoes across the art world, where the case has been closely followed.

Meanwhile, the saga isn’t entirely over. Rybolovlev’s case against Sotheby’s in New York is set for trial in January. The Russian magnate accuses the auction house of facilitating Bouvier’s alleged fraud, particularly in overcharging him for 15 artworks, including the “Salvator Mundi.”

As this chapter closes, the art world watches with bated breath, anticipating the outcome of the remaining litigation in New York. The story of Rybolovlev, Bouvier, and the elusive “Salvator Mundi” continues to be a testament to the complex interplay of art, power, and money. Stay tuned to The Cybervoice for exclusive updates on this and more from the world of high art and society.

Bravissimo: Revolut Appoints Impressive CEO For UK Business

Lucas Peterson
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Bravissimo: Revolut Appoints Impressive CEO For UK Business

The U.K. fintech heavyweight, Revolut, has announced the Italian Francesca Carlesi as the forthcoming CEO for its U.K. branch, while Nik Storonsky maintains his role as the CEO of the overall groups. Notably, Revolut is facing challenges in obtaining a U.K. banking license. With her impressive track record, Carlesi may be play a pivotal role in the fintech’s ambitions to become a bank in the UK.

Francesca’s previous stint was at Molo, the U.K.’s inaugural fully online mortgage provider, where she held the reins as the founder and CEO. Her extensive banking career features leadership positions at Deutsche Bank and Barclays. Additionally, she’s had roles at McKinsey & Co. and Bridgepoint Capital.

Carlesi boasts an impressive educational background, including a PhD in Banking and Finance from the University of Rome, an MBA with honors from Columbia University, and a diploma from the Harvard Kennedy School of Government. With over 15 years in the financial realm, her expertise spans private equity, retail and commercial banking, investment banking, and asset and wealth management.

Come December, Carlesi will take the helm at Revolut, succeeding James Radford, who exited the position in March.

This leadership change occurs shortly after Kitty Ussher, the former economic secretary to the Treasury and a one-time MP, stepped down from Revolut‘s UK board. Despite her move to Barclays, Ussher reminisced about her fulfilling four years with Revolut in a heartfelt LinkedIn post.

Revolut boasts a sprawling global clientele exceeding 35 million, with a significant footprint in nations such as Romania and Poland. The Central and Eastern European regions are also seeing brisk growth for the fintech. Still, the U.K. remains its cornerstone market.

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