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And here is the longest cruise in the world (passes through seven continents).

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And here is the longest cruise in the world (passes through seven continents).

NSThis was not possible a few months ago, when the tourism industry – and the cruise industry in particular – was struggling with travel restrictions, but one company is launching the longest cruise in the world: it will last nine months and cover 150 destinations.

According to the company, the trip is designed for people who want to “catch up”.

The cruise departs in December 2023 from Miami, USA, and only returns to Florida next September, 274 nights later.

The journey will take place aboard the Royal Caribbean Serenade of the Seas, which can accommodate up to 2,476 passengers.

After departing from Miami, the cruise will sail across the Caribbean with several stops in Central and South America, including Rio de Janeiro. In nine months, it will make 150 stops in 60 countries around the world.

The route crosses seven continents and should allow travelers to visit the Great Wall of China, the Taj Mahal, and the pyramids at Giza.

For those interested, it will be possible to book the experience for nine months, or to book only a specific segment and, for example, only take the route through America.

Royal Caribbean told CNN Travel that the trip will cost between 57,000 and 97,000 euros.

Read also: Bus ride to sleep? The Hong Kong company has bet on it

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Economy

Another crypto giant falls: BlockFi asks for protection from creditors

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Another crypto giant falls: BlockFi asks for protection from creditors

After FTX, it was the turn of crypto lending platform BlockFi to seek creditor protection under Chapter 11 insolvency law in the United States. The lawsuit was filed in a New Jersey court about a month after FTX collapsed.

The company lists more than 100,000 creditors in the documents that started the lawsuit and are cited by various international press outlets. The table features FTX’s second-largest creditor, with $275 million in debt to the platform, which until recently was led by Sam Bankman-Fried.

The list is topped by Ankura Trust, a creditor representation company, with a $729 million loan. BlockFi has already issued a red alert to the market, freezing the withdrawal of assets from the platform.

In July, FTX signed a $400 million credit line agreement with BlockFi with the option to acquire the FTX platform for up to $240 million in the event of default. This came after the collapse of the crypto market in the first half of the year was exacerbated by the collapse of the Terra USD ecosystem and brought the platform to the ground.

The risk of infection remains

The collapse of FTX is starting to infect other “players” in the market. The crisis of confidence experienced during the “collapse” of the Terra USD ecosystem has returned, and several platforms have already frozen the withdrawal of assets. In addition to BlockFi, Genesis, a platform primarily dedicated to crypto lending, has suspended asset buyback operations, citing an “abnormal number of withdrawal requests” for its decision.

Redemption requests made on the platform’s crypto-deposit arm, Genesis Global Capital, have exceeded the company’s liquidity, so the company, along with a team of advisors, is exploring a range of options to try to get back to normal, according to Acting CEO Dear Islim, Bloomberg was quoted as saying. The Gemini Trust, led by the Winklevoss twins, has also decided to freeze the withdrawal of assets from the Gemini Earn program, designed for deposits that earn interest on the “tokens” held. The company guaranteed that this decision would not affect other products or services.

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In turn, the Hong Kong-based platform AXX suspended the withdrawal of assets for ten days this Monday, reporting a lack of liquidity. “If AAX is unable to obtain funding that will allow us to resume operations, we are committed to initiating legal procedures to ensure asset allocation,” the company said in a statement quoted by Bloomberg.

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Economy

The protests in China sent Wall Street into the red. Europe falls after Lagarde speech – Markets in a minute

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European markets are in the red.  Interest on Portugal's debt hits 2.5% - Markets in a minute

Euribor climbs three, six and 12 months to new highs in nearly 14 years.

Euribor rates rose today to new highs since early 2009 in three, six and 12 months.

The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose today to 2.436% plus 0.062 points, a new high since January 2009.

The six-month average Euribor rose from 1.596% in September to 1.997% in October.

The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, setting a new high since February 2009 at 1.954% plus 0.032 points.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

The three-month average Euribor rose from 1.011% in September to 1.428% in October.

In the same sense over a 12-month period, Euribor rose today, settling at 2.892%, up 0.032 points from Friday and a new high since January 2009.

After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The average Euribor rate for 12 months increased from 2.233% in September to 2.629% in October.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) acknowledged that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the onset of the Russian crisis. Invasion of Ukraine on February 24th.

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On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor rates are set at the average rate at which a group of 57 eurozone banks are willing to lend money to each other in the interbank market.

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Economy

Credit Suisse loses almost a billion euros in one day – Banking and finance

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Credit Suisse CEO says employees will never return to office

Credit Suisse lost almost 1 billion Swiss francs in just one session. The market capitalization of the Zurich giant fell from 10,328.24 million Swiss francs (10,497.2 million euros at current exchange rates) to 9,369.5 million francs, down 957.85 million Swiss francs (974.42 million euros).

The bank, which is in the middle of a restructuring plan, again hit a historic low for the second consecutive session, touching 2.97 Swiss francs, meanwhile ending the day with relief, but even with a drop of 4.16% against the Swiss franc. 3.01,.

Shares have fallen for ten consecutive days, the worst losing streak since 2011, shedding 27% year-to-date (0.82%).

Credit Suisse’s stock market performance was impacted by news that its “core” business, wealth management, is losing funds and customers to competitors. In addition, the bonds were punished by the fact that the sale of guaranteed capital products to Apollo Global Management – as part of a restructuring plan – was poorly received by analysts, who criticized the lack of details about the agreement.

Also under this “strategic” plan, the bank is implementing a capital increase of 4 billion francs (4.06 billion euros), with the first operation being for institutional investors, after which the National Bank of Saudi Arabia took 9.9% of the shares. capital of the Zurich financial institution, as expected.

In addition, from this Monday until December 6, subscription rights are being negotiated for the bank’s shareholders wishing to purchase new shares in order to complete the capital increase. The bank expects to raise about 2.24 billion Swiss francs (2.27 billion euros).

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