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☆ Hot inflation and high estimates could ruin the Q1 earnings season. Why investment chiefs are increasingly worried — and the bull case that profits are still underestimated.
▼ + stars: | 2024-04-12 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Without strong profit progress in the Q1 earnings season starting in mid-April, US stocks may surrender their 8.2% year-to-date gain. Loftier estimates, top-heavy earnings are reasons for worryFirms have a rather low bar to clear in the upcoming earnings season, as is often the case. The market's largest companies are disproportionately driving earnings growth in addition to stock returns, Goldman Sachs found. The Q1 earnings season begins in earnest on Friday as big banks share results. Early reporters have beaten earnings estimates by 13.5%, Golub wrote, which he added is more than double the typical rate.

Persons: Richard Saperstein, James Ragan, David Kostin, Goldman Sachs, Kostin, Anthony Saglimbene, Ameriprise, we're, Saglimbene, Arun Bharath, Bharath, Jonathan Golub, Golub, they're Organizations: Federal Reserve, Business, Treasury Partners, DA Davidson, Nvidia, Big Tech, Bel Air Investment Advisors, UBS, Institute for Supply Management Locations: America

☆ Meet the billionaire 'king of subprime car loans' whose company underwrote Trump's $175 million civil fraud bond
▼ + stars: | 2024-04-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Billionaire Don Hankey's company underwrote a $175 million appeal bond for Donald Trump. The 80-year-old oversees Hankey Group, which employs over 3,400 people and whose assets are worth around $22.5 billion, per Forbes. Axos Bank CEO Greg Garrabrants has previously donated around $50,000 to Republican campaigns since 2012, with $9,600 in support of Trump, according to Federal elections records. Related storiesHankey's net worth is estimated at $7.4 billion, according to Forbes — and it's nearly doubled within the last three years. The mansion ended up auctioning for less than half of its expected $500 million worth.

Persons: Don Hankey's, Donald Trump, Hankey, —, Don Hankey swooped, It's, that's, Trump, refinanced, Greg Garrabrants, Forbes —, Ford, Westlake, Niami, David Sucsy, Niami's, Allen J, Schaben, Getty Hankey, Debbie Hankey Organizations: Bel, Service, Hankey Group, Forbes, Hankey's, Specialty Insurance, Bloomberg, Axos Bank, Axos, Trump, Westlake Financial Services, Hankey Investment, Bel Air, Los Angeles Business Journal, University of Southern Locations: Southern California, Bel Air Los, Bel, University of Southern California, Malibu

☆ It looks like Elon Musk will help launch a new Ad Astra school on a former horse ranch in Texas this summer
▼ + stars: | 2024-03-11 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

A job listing indicates that a new Montessori Ad Astra school will open this summer. Musk cofounded Ad Astra in 2014. AdvertisementA job listing indicates that Elon Musk is planning to launch a new Ad Astra school in Texas. Musk cofounded Ad Astra in 2014 with Josh Dahn. Ad Astra appears to be partnering with Xplor Education, a firm that provides software for childcare operators, to form the new Montessori school.

Persons: Musk, —, Elon Musk, Josh Dahn, Dahn, it's, execs, didn't Organizations: Ad Astra, Astra, Service, Business, Xplor Education, Montessori, The New York Times, Maria Montessori Institute, The Boring, SpaceX, Times, Bel Air Locations: Texas, Boca Chica , Texas, Bastrop , Texas, Austin

☆ Rupert Murdoch is engaged to marry – again
▼ + stars: | 2024-03-07 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +2 min

CNN —Within a year of calling off his last wedding, nonagenarian billionaire Rupert Murdoch has popped the question to another partner, months after they started dating. It’s the second time Murdoch has been engaged in a year. Last March, the media titan announced plans to marry Ann Lesley Smith, a former dental hygienist and conservative radio host. Murdoch and Zhukova reportedly started dating in the summer and plan to marry at Moraga Bel Air, Murdoch’s luxury vineyard and estate in California. Murdoch was previously married to former flight attendant Patricia Booker, journalist Anna Murdoch and entrepreneur Wendi Deng, who reportedly introduced him to Zhukova.

Persons: Rupert Murdoch, It’s, Murdoch, Ann Lesley Smith, Elena Zhukova, Zhukova, Dasha, Abramovich, Lachlan, Patricia Booker, Anna Murdoch, Wendi Deng, Jerry Hall, Smith, “, ” Organizations: CNN, News Corp, The New York Times, Moraga Bel Air, Bloomberg’s, News Corporation, Fox Corporation, Fox News Locations: California, Russian

☆ The Fed is set to cut rates this year. Here are the Asian currencies that stand to benefit
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +5 min

Brent Lewin | Bloomberg | Getty ImagesThe U.S. Federal Reserve is expected to cut interest rates later this year and, while that may not be good news for the dollar , some Asian currencies stand to benefit. Higher interest rates boost a country's currency, attracting foreign investment and increasing demand for the country's currency. A weak U.S. dollar is generally positive for emerging markets, which is often the case when the Fed cuts interest rates outside of an economic crisis. Experts told CNBC currencies such as the Chinese yuan , the Korean won and the Indian rupee stand to benefit from the Fed loosening monetary policy. So those are also positive for the Indian currency," said Anindya Banerjee, vice president of currency and derivatives research at Kotak Securities.

Persons: Mahatma Gandhi, Brent Lewin, Yuan, Arun Bharath, Bharath, Simon Harvey , , Anindya Banerjee, Banerjee, South Korea's, Monex's Harvey Organizations: Bloomberg, Getty, . Federal, CNBC, Korean, Bel Air Investment Advisors, People's Bank of, FX, U.S, Kotak Securities, Bank of, Korea's, South Locations: Bangkok, Thailand, China, People's Bank of China, U.S, Bank of India, India, Europe, America

☆ The most expensive home for sale in the U.S. goes up for $295 million in Naples, Florida
▼ + stars: | 2024-02-10 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it's called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal. The mega-listing includes a main house that spans about 11,500 square feet, with six bedrooms. Two guest houses, each over 5,000 square feet, bring the estate's total interior living space to 22,800 square feet. The residence sits high atop 217 West 57th Street, overlooking Central Park, spanning three floors and over 17,500 square feet.

Persons: Gordon Pointe, Leighton Candler, Corcoran, Candler, Gordon, John, Rhodora Donahue, John Donahue, Hermes, Dawn McKenna, McKenna, she's, It's, Cody Boone, Ryan Serhant, Serhant, naysayers, Donna Olshan, Karen Winnick, Gary Winnick, Kurt Rappaport, that's, Jonathan Miller, Miller Samuel, Jeff Bezos, Clodagh Kilcoyne, Ken Griffin, Larry Ellison, Marc Andreessen, Jim Bartsch, Jerry Perenchio, Miller, Lachlan Murdoch, Rupert Murdoch Organizations: Royal, CNBC, U.S . Army Corps of Engineers, Dawn McKenna Group, Coldwell, Coldwell Banker Realty, St, SERHANT Studios, Encantada, U.S, Washington , D.C, Reuters, Amazon, Oracle, Bel Air, Fox Corp Locations: Gordon Pointe, U.S, Naples , Florida, Gulf, New York, of Mexico, Pittsburgh, Port Royal, America, New York City, Central, Manhattan, Los Angeles, Bel, Washington ,

☆ Southern California neighborhoods that attract the rich and famous are also some of the hardest-hit areas during major storms
▼ + stars: | 2024-02-06 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs an atmospheric river pounds Southern California with a historic deluge of rain, some of the hardest-hit areas also happen to be among the most desirable zip codes. Beverly Hills and the Hollywood Hills of Los Angeles were both under flash flood warnings on Monday. AdvertisementFurther from Los Angeles, other areas that draw the wealthy also tend to be at an increased risk of flooding and landslides when huge quantities of rain hit the state. AdvertisementMontecito's fire chief told the Los Angeles Times that this storm could be more intense than the one that hit in January 2023.

Persons: —, Todd, Keki Mingus, I've, Ellen DeGeneres, Prince Harry, Meghan Markle, DeGeneres, David Neels Organizations: Service, Beverly, Hollywood, Beverly Hills, Business, National Weather Service, NWS, Census Bureau, Santa, Los Angeles Times, Bel Air, Studio, KTLA, Associated Press, Montecito Fire, LA Times Locations: Southern California, Beverly Hills, Los Angeles, Hollywood, Santa Monica, Malibu, Pacific, Bel, Studio City, Sherman Oaks, Encino, Topanga, Woodland Hills, City, Montecito, Santa Barbara

“Raise your ‘Red Solo Cup’ to Toby for a life well-lived.”Hundreds of fans said they planned to fill their red Solo cups with beer, whiskey and even wine and hoist them in Keith’s memory Tuesday. Social media was flooded with photos of Keith, red Solo cup in hand. Bars, like Madison Social in Tallahassee, Florida, and Independent Brewing Co. in Bel Air, Maryland, announced drink specials served in red Solo cups. So raise a red Solo cup in Keith’s honor. For as he once sang, “Red Solo cup, you’re more than just plastic.

Persons: Toby Keith’s, ” Keith, ”, Sen, Marsha Blackburn, Toby, Keith, Leo Hulseman —, —, Leo’s, Robert Hulseman, Dart, ” Dart, “, ” Keith didn’t, wasn’t Organizations: Tennessee Republican, Madison Social, Independent Brewing Co, Dixie Co, Dart Container Corp Locations: Tennessee, ”, Tallahassee , Florida, Bel Air , Maryland, Dixie, Mason , Michigan, Illinois, America

☆ California’s record deluge
▼ + stars: | 2024-02-05 | by ( Jonathan Wolfe | ) www.nytimes.com time to read: +1 min

California is hit by a record delugeA ferocious atmospheric river dumped rain on California, spawning landslides, flooding roads and causing power outages across the region. The relentless downpour, which began last night, stalled over the Los Angeles region, where officials warned of the potential for more flooding and mudslides. Parts of Southern California are expecting 8 to 14 inches of rain today, potentially matching Los Angeles’s average annual rainfall total — 14 inches — in a single day. More than 10 inches of rain were recorded by noon in the Los Angeles neighborhood of Bel Air. Atmospheric rivers — named for their long, narrow shape and the prodigious amount of water they carry — greatly affect California’s weather and water supplies.

Organizations: Bel Air Locations: California, Los Angeles, Southern California, Bel

☆ His Family Put 20,000 Miles on a ’57 Chevy in One Road Trip
▼ + stars: | 2024-01-13 | by ( A.J. Baime | Photographs Kyna Uwaeme For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Kamran Khan, 75, a retired civil servant in Pakistan now living in Travilah, Md., on his 1957 Chevrolet Bel Air, as told to A.J. Where I grew up, in Quetta, Pakistan, people loved American cars. This was the 1950s and early ’60s, and a lot of people didn’t even have a car. My family was very fortunate and we had a 1957 Chevrolet Bel Air.

Persons: Kamran Khan, A.J Organizations: Bel Air Locations: Pakistan, Travilah, Md, Quetta, American

☆ Jake Tapper reveals challenges of covering war, why he feels news outlets ‘censor too much’ and what has left him ‘shocked’
▼ + stars: | 2023-11-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +8 min

Each and every day, journalists covering the Middle East conflict are faced with thorny challenges, many of which they must grapple with in real-time. We spoke with CNN’s Jake Tapper on Tuesday for a wide-ranging interview about reporting on the war. I generally feel that we in the news media writ large, all over the world, censor too much. It’s nothing compared to what the people in Israel and Gaza and the West Bank are currently going through. More than 50 journalists have now died in the region since the onset of the war, according to the Committee to Protect Journalists.

Persons: It’s, CNN’s Jake Tapper, Eisenhower, ”, I’ve, Biden, George Clooney, Wynonna Judd, Don Cheadle, Mindy Kaling, —, Jason Bateman, Will Arnett, Jake Gyllenhaal’s Organizations: CNN, Hamas, Journalists, United, West Bank, Protect Journalists, Our Troops, Homes, Bel Air Locations: Israel, Gaza, There’s, United States, U.S, United Nations, Iraq, Afghanistan, Ukraine

☆ This is the most expensive neighborhood in the U.S.—see how the priciest ZIP code in your state compares
▼ + stars: | 2023-11-22 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

In contrast to California, the most expensive ZIP code for North Dakota is found in Fargo, where median-priced homes are relatively affordable, costing $439,900. Upscale vacation destinations and exclusive coastal towns dominate the most expensive ZIP codes for many U.S. states. Median-priced homes in these ZIP codes cost more than $4 million. In more rural states like Alaska, Iowa, Nebraska and West Virginia, homes in the most expensive ZIP codes cost less than $1 million. Below are the most expensive ZIP codes in all 50 states and Washington, D.C., listed in alphabetical order.

Organizations: Bel Air, U.S, Hamptons, D.C Locations: Los Angeles, California, North Dakota, Fargo, Bel, Water, , New York, Telluride , Colorado, Wilson , Wyoming, Jackson, Alaska , Iowa , Nebraska, West Virginia, U.S, Washington

☆ Gary Winnick, Who Won and Lost With Global Crossing, Dies at 76
▼ + stars: | 2023-11-09 | by ( Richard Sandomir | More About Richard Sandomir | ) www.nytimes.com time to read: +1 min

Gary Winnick, a former junk-bond salesman who in 1997 founded Global Crossing, a telecommunications company that laid fiber-optic cable underwater around the world to speed internet and phone traffic, but that imploded five years later under billions of dollars in debt, died on Saturday at his estate in Los Angeles. His son Matthew confirmed the death but said he did not know the cause. Mr. Winnick received renewed attention in June when his estate, in the Bel Air neighborhood, was put up for sale for $250 million. Mr. Winnick started Global Crossing without a background in telecommunications but with an ambitious goal: to build the world’s first privately financed global fiber-optic network. Mr. Winnick was certain that by spending $15 billion on the network, he had found the right business at the right time.

Persons: Gary Winnick, Matthew, Winnick Organizations: Bel Air, Telephone Locations: Los Angeles

☆ Rite Aid is closing nearly 100 stores as part of its bankruptcy. See the list
▼ + stars: | 2023-10-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts. Over the past six years, Rite Aid has tallied nearly $3 billion in losses. in Costa Mesa, California139 North Grand Ave. in Covina, California20572 Homestead Road in Cupertino, California24829 Del Pradoin Dana Point, California7859 Firestone Blvd. in Yorba Linda, California25906 Newport Road in Menifee, California1600 North Main St. in Meridian, Idaho5808 Ritchie Hwy. in Mill Creek, Washington601 South Grady Way in Renton, Washington2707 Rainier Ave. in South Seattle, Washington– CNN’s David Goldman contributed to this story

Persons: Del, Dana, Glen, Ephraim Ave, Arnold St, Nicholas Ave, Reed, Washington – CNN’s David Goldman Organizations: New, New York CNN — Rite, Real Estate Partners, Rite Aid, Amazon, Walmart, Target, Costco, Aid, Solutions, SEC Alabama, Valley, Firestone, Alvarado St, Fulton, Yorba, Bel Air, Pulaski, Garfield, Main St, Clinton St, Michigan, Whittemore St, Hamilton St, Sunrise, Elmwood, New Carlisle , Ohio Euclid, Gettysburg, Medford, 9th St, Liberty, Eisenhower, Stevenson, 5th St, Reed St, Oxford, 63rd, Brighton, East Central, St, Evergreen, Grady Locations: New York, California, Maryland, Michigan, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Idaho, Pike, Monroeville , Alabama, Alhambra , California, Bellevue, Atwater , California, Costa Mesa , California, Covina , California, Cupertino , California, Dana Point , California, Downey , California, Irvine , California, La Mirada , California, Laguna Niguel , California, South Centinela, Los Angeles , California, Alvarado, Monterey , California, St, Ramona , California, Fulton Ave, Sacramento , California, Santa Cruz , California, Yorba Linda , California, Menifee , California, Main St, Meridian , Idaho, Baltimore , Maryland, Bel Air , Maryland, Elkton , Maryland, Glen Burnie , Maryland, Gratiot, Clinton Township , Michigan, Detroit , Michigan, Farmington Hills , Michigan, Fremont , Michigan, Clinton, Grand Ledge , Michigan, Jackson , Michigan, Macomb , Michigan, U.S, Manistee , Michigan, Redford , Michigan, Shelby Township , Michigan, St . Johns , Michigan, Centerville, Sturgis , Michigan, Taylor , Michigan, Wixom , Michigan, Berlin , New Hampshire Grove St, Peterborough , New Hampshire, Browns Mills , New Jersey, Camden , New Jersey, Lumberton , New Jersey, Bridgeton Pike, Mantua , New Jersey, Mullica Hill , New Jersey, Edinburg, Robbinsville , New Jersey, Hamilton, Somerset , New Jersey, Williamstown , New Jersey, Bay Shore , New York, Buffalo , New York, Copiague , New York, East Northport , New York, Floral, , New York, Jamaica , New York, Elmwood Ave, Kenmore , New York, Hempstead, Levittown , New York, Patchogue, Yaphank, Medford , New York, New York , New York, Port Jefferson , New York, Sayville , New York, Smithtown , New York, West Patchogue , New York, New Carlisle , Ohio, Strathmore, East Cleveland , Ohio, Dayton , Ohio, Cleveland , Ohio, Medford , Oregon, Cully, Portland , Oregon, 9th, Chester , Pennsylvania, Coraopolis , Pennsylvania, Erie , Pennsylvania, Greensburg , Pennsylvania, Hanover , Pennsylvania, New Castle , Pennsylvania, New Kensington , Pennsylvania, Pennsburg , Pennsylvania, 5th, Philadelphia , Pennsylvania, Venango St, 63rd St, Pottsville , Pennsylvania, Rochester , Pennsylvania, East Central Ave, Titusville , Pennsylvania, White Haven , Pennsylvania, Bellevue , Washington, Bellingham , Washington, Blaine , Washington, Covington , Washington, Everett , Washington, Lynnwood , Washington, Mill Creek, Renton , Washington, Rainier, South Seattle

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ How a lonely mountain lion led to the creation of the world’s largest wildlife overpass
▼ + stars: | 2023-10-08 | by ( Martha Shade | ) edition.cnn.com time to read: +8 min

A photo of P-22 mountain lion National Park Service“A mountain lion lived in L.A. and people didn’t fear him,” said Pratt, who has memorialized P-22 on her arm with a tattoo. The idea of a wildlife overpass was garnering interest, but funding it was another issue. A rendering of the completed Wallis Annenberg Wildlife Overpass Courtesy National Wildlife FederationEngineers are also taking into account animals’ fear of bright lights. And that’s exactly what needs to happen at the Wallis Annenberg Wildlife Overpass, where the freeway bisects the local cougar habitat. He has inspired the building of the Wallis Annenberg Wildlife Crossing.

Persons: he’s, ”, Beth Pratt, Pratt, Alan Ruck —, Ferris, Leonardo DiCaprio, Rainn Wilson, Barbra Streisand, David Crosby, ” Pratt, “, Watts, Wallis Annenberg, don’t, ” It’s, Martha Shade, koalas, We’ve, ’ Organizations: CNN, National Wildlife Federation, Hollywood, Service, Wallis Annenberg, Wildlife Federation Engineers, National Park Service, Banff National, grizzlies, Federal, Administration Locations: California, Los Angeles, L.A, HBO’s, Watts, South Los Angeles, Beverly, France, Europe, Netherlands, Brignoles, Queensland, Australia, Canada, Banff, Pratt

☆ The winner of the $2 billion Powerball jackpot in February has spent the last few months buying up California real estate
▼ + stars: | 2023-09-18 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

The winner of a record-breaking $2 billion Powerball jackpot has gone on a real-estate-buying spree. Edwin Castro, 31, secured the winning $2.04 billion ticket at a gas station in Altadena, near Los Angeles, in November last year. This meant that Castro ended up with about $628.5 million in cash after federal taxes, according to USA Today. DailyMail.com reported that Castro has also been spotted driving a vintage Porsche, likely another of his post-jackpot purchases. AdvertisementAdvertisementAfter his property investments, which total about $76 million, Castro still retains a substantial portion of his winnings.

Persons: Edwin Castro, Fortune, Castro, DailyMail.com Organizations: Bel Air, Service, USA, New York, Porsche, Guardian Locations: Hollywood Hills, Altadena, Wall, Silicon, Los Angeles, Bel, Hollywood

☆ Elon Musk whispered to his first wife, Justine, that he was 'the alpha in this relationship' during their first dance
▼ + stars: | 2023-09-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

During Elon Musk's first dance with Justine Musk, he told her he was the "alpha" in the relationship. Justine Musk was his first wife and the mother of five of Elon Musk's surviving children. "I am the alpha in this relationship," Elon Musk whispered to author Justine Musk, his first wife, as they danced following their ceremony on the Caribbean island of Saint Martin, Walter Isaacson wrote in "Elon Musk," his new biography of the tech mogul. Elon Musk met Justine Musk when he was a sophomore and she a freshman at Queen's University in Kingston, Ontario. AdvertisementAdvertisementShe told Isaacson that Elon Musk told her to dye her hair blonder and that she felt like she was being turned into a "trophy wife."

Persons: Elon Musk's, Justine Musk, Elon Musk, Saint Martin, Walter Isaacson, Isaacson, Elon, Jeff Bezos, that's, Justine, Kimbal Musk, Navaid Farooq, Maye, Griffin, Xavier, Kai, Damian, Talulah Riley Organizations: Service, Queen's University, University of Pennsylvania, PayPal, Bel Air Locations: Wall, Silicon, Saint, Kingston , Ontario, Queen's, New York City, Palo Alto, Nevada, Bel

U.S. bond investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. The yield on 10-year Treasury notes was steady at 4.2314% and the two-year yield, which reflects interest rate expectations, rose to 5.0735%. "We've seen a back-off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton, Diane Craft, Cynthia Osterman Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, ECB, Reuters, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Shares whipsaw as Fed weighs inflation risks, yields steady
▼ + stars: | 2023-08-25 | by ( Samuel Indyk | ) www.reuters.com time to read: +5 min

If you're a bear, you heard him say we're going to be restrictive, and we might hike rates," said David Sadkin, president at Bel Air Investment Advisors. U.S. rates investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning. "We've seen a back off in ECB rate hike expectations. Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible." Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.

Persons: Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton Organizations: London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, Reuters, ECB, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson Locations: City, City of London, Britain, Jackson Hole , Wyoming, U.S, Asia, Tokyo

☆ Investors are betting that rate cuts are coming early next year. Here's what market experts are urging you do right now to cash in when rates do fall.
▼ + stars: | 2023-08-18 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

10-year Treasury yields are surging as the economy stays hot. For the first time since 2007, 10-year yields rose above 4.3% on Thursday after seeing a 31% surge since April. If or when that eventually happens, Treasury yields are likely to follow, presenting those who hold the assets with an opportunity. Bond yields fall when demand for the assets rise, pushing up their price. David Kelly, the chief global strategist at J.P. Morgan Asset Management, sees 10-year rates averaging 3.7% in the years ahead.

Persons: Gautam Khanna, Jason Draho, Lawrence Gillium, Craig Brothers, Brothers, Leslie Falconio, David Kelly, Kelly Organizations: Wall, Insight Investment, UBS Global Wealth, LPL, Bel Air Investment Advisors, Morgan Asset Management, Monopoly, Treasury Locations: Treasurys

☆ Ahead of two key inflation reports, what would a soft landing look like exactly?
▼ + stars: | 2023-08-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

But aside from simply skirting a recession, it’s not obvious what the economy would look like in a soft landing. And who even declares that the Fed has officially defied the odds and achieved a soft landing? The main aspect of a soft landing, according to economists, is the absence of a recession, which is determined by the National Bureau of Economic Research (NBER.) In a soft landing, the job market has to remain intact. The other key feature of a soft landing is for the Fed to successfully control inflation, but that’s open to some interpretation.

Persons: we’ve, ”, Kayla Bruun, “, Julia Pollak, ” Pollak, Josh Markman, cooldown, Austan Goolsbee, ” Goolsbee, Raphael Bostic, Michelle Bowman, Patrick Harker, Armour, Ralph Lauren Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Bank of America, Fed, National Bureau of Economic Research, Morning, Atlanta, ZipRecruiter, Labor, Bel Air Investment Advisors, Federal, Federal Reserve Bank of Chicago, Bloomberg, Atlanta Fed, “, Tyson Foods, UPS, Fox, Restaurant Brands, The National Federation of Independent Business, US Commerce Department, China’s National Bureau of Statistics, Disney, US Labor Department, National Statistics, University of Michigan Locations: Washington

☆ Not every version of Barbie was a hit. Check out these flops
▼ + stars: | 2023-07-22 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

Barbie’s pregnant sidekick, MidgePregnant Midge was featured in Mattel's Happy Family Barbie Collection that also included Alan (pictured here behind the stroller). Fast-forward to 2002, Mattel introduced a pregnant Midge doll, featuring a detachable baby bump with a toy baby inside. The Midge doll created ripples. Walmart (WMT) ended up pulling the pregnant Midge doll from its store shelves, citing customer complaints about the appropriateness of a “pregnant” doll. When the FBI came after this BarbieVideo Barbie doll with a built-in LCD screen and download port for videos.

Persons: New York CNN —, Barbie, She’s, who’ve, Barbie Fashionistas, “ Barbie, ”, James Zahn, “ There’s, Midge, Alan, Lawrence Lucier, Zahn, Allan, Ryan, “ Allan ”, “ Allan didn’t, Mattel, “ Alan ”, Tanner, Barbie’s, Mark Ralston, Tanner playset, Tanner playsets, Barbie Mattel, Martin James Brannan, Skipper, Skipper ”, “, Miguel Villagran, Barbie Mark Lennihan, Richard Gottlieb Organizations: New, New York CNN, Bel Air, Mattel, Walmart, “, US Consumer Product Safety Commission, OREO, Nabisco, Fairfax Media, FBI, Global Toy Experts, New York Times Magazine Locations: New York, American, Barbie, AFP

☆ Can HBO’s ‘The Idol’ Bring Back ’80s Sleaze?
▼ + stars: | 2023-06-06 | by ( Steven Kurutz | ) www.nytimes.com time to read: +2 min

The first episode begins with the pop star Jocelyn, played by Lily-Rose Depp, baring her breasts during a photo shoot as a team of handlers, crew members and an ineffectual intimacy coordinator look on. There will be no flannel PJs for Joss; a pair of wake-up scenes make it clear to viewers that she sleeps in a thong. It isn’t only the show’s gratuitous nudity that harks back to Mr. Lyne and company, but the overall look and mood, which recall a louche glamour from the time of boxy Armani suits and cocaine nights. A main setting is a $70 million mansion in Bel Air that looks like something out of Mr. De Palma’s “Scarface” but is in fact Mr. Tesfaye’s real-life home. A number of young viewers have said they find sex scenes embarrassing, but Mr. Levinson, who created the HBO drama “Euphoria,” and his fellow producers have made no secret of their desire to pay homage to the heyday of Cinemax (when it had the nickname Skinemax).

Persons: Jocelyn, Lily, Rose Depp, baring, Mr, Tesfaye, Joss, Lyne, De Palma’s, ”, Tesfaye’s, Levinson, Elizabeth Berkley, Longworth Organizations: Royce, HBO, Cinemax, Risky, ”, American Cinematheque Locations: Bel Air, Los Angeles

☆ Beyoncé and Jay-Z Join the $100 Million Home Club
▼ + stars: | 2023-06-01 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

Beyoncé and Jay-Z, no strangers to flashy real estate deals, reportedly upgraded from their $88 million mansion in Bel Air, Calif., to a $200 million Malibu property last month, officially erasing the line between going big and going home. The sale marks the most expensive residential real estate deal in California history — but not the most expensive in American history. That would be the $238 million sale in January 2019 of an unfinished penthouse on Central Park South, in Manhattan, to the billionaire hedge fund tycoon Kenneth C. Griffin. Still, California can claim 10 of the 20 most expensive property sales ever in the United States, according to data compiled by Jonathan Miller of Miller Samuel appraisals. Beyoncé and Jay-Z, who have bought and sold multimillion-dollar homes in Miami, New Orleans and the Hamptons, are now in a rarefied club of celebrities who own properties worth $100 million or more.

Persons: Beyoncé, Tadao Ando, William Bell Jr, Kurt Rappaport, Rappaport, Kenneth C, Griffin, Jonathan Miller, Miller Samuel Organizations: Calif, Malibu, TMZ, Westside Estate Agency, Park, Hamptons Locations: Bel Air, California, Manhattan, , California, United States, New York, Florida, Connecticut, Miami , New Orleans

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