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☆ Brick-Filled Boxes. Bogus Receipts. Retailers Battle Fraudulent Returns.
▼ + stars: | 2024-01-13 | by ( Liz Young | ) www.wsj.com time to read: 1 min

The pandemic has changed the way we shop. More people buying things online means more people returning things, too. WSJ’s Dalvin Brown explains how some companies are leveraging gig workers to make those returns for you. Photo illustration: David FangSome companies processing returned televisions for retailers have gotten a surprise when opening the boxes—packaging filled with bricks rather than newly purchased TVs. Others examining returned purchases of purported luxury goods are instead finding counterfeits sent in by customers looking for refunds on full-price, deluxe merchandise.

Persons: WSJ’s Dalvin Brown, David Fang, counterfeits

☆ How Chinese Aggression Has Pushed the Philippines Closer to the U.S.
▼ + stars: | 2023-10-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

How Chinese Aggression Has Pushed the Philippines Closer to the U.S. Located near Taiwan and the South China Sea, the Philippines has found itself at the center of a global effort to counter China. WSJ’s Shelby Holliday traveled there to learn about the nation’s strategic importance and its growing ties with the U.S. Photo: David Fang

Persons: WSJ’s Shelby Holliday, David Fang Organizations: U.S Locations: Philippines, Taiwan, South China, China

☆ China, a U.S. Ally and the Fight Over an Old Rusty Ship
▼ + stars: | 2023-10-25 | by ( Niharika Mandhana | ) www.wsj.com time to read: 1 min

Located near Taiwan and the South China Sea, the Philippines has found itself at the center of a global effort to counter China. WSJ’s Shelby Holliday traveled there to learn about the nation’s strategic importance and its growing ties with the U.S. Photo: David FangSINGAPORE—A dispute between China and the Philippines, a U.S. ally, is rapidly escalating over an unusual military outpost: a World War-II era ship that is leaky, riddled with holes, covered in rust and sitting atop a reef in the South China Sea. The decrepit ship, the BRP Sierra Madre, and the small detachment of marines aboard are defending the Philippines’ claim to Second Thomas Shoal, located about 100 miles off its west coast. The country grounded the ship on the reef 2½ decades ago to stave off China’s expanding control over the South China Sea.

Persons: WSJ’s Shelby Holliday, David Fang SINGAPORE, Thomas Organizations: U.S, BRP, BRP Sierra Madre Locations: Taiwan, South China, Philippines, China, U.S, BRP Sierra

☆ The Murky Science Behind ‘Fatigue-Fighting’ Adrenal Cocktails
▼ + stars: | 2023-10-20 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

Why Grass Is a Culprit in Some of the World’s Worst Wildfires The spread of invasive grasses in places like Hawaii and the Western U.S. is contributing to more frequent wildfires. WSJ’s Daniela Hernandez explains why and explores what's being done to curb their spread. Photo illustration: David Fang

Persons: Daniela Hernandez, David Fang Locations: Hawaii, Western U.S

☆ I Stressed My Body for 10 Days to Extend My Life… Did It Work?
▼ + stars: | 2023-09-14 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

The Brain Science of Aggression and Why Lashing Out Can Feel Good Nearly one in four people surveyed in Gallup's latest Global Emotions Report said they’d recently felt anger. WSJ’s Daniela Hernandez explains the neuroscience behind rage, the roles it plays in our lives and how we can keep it in check. Photo composite: David Fang

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

☆ US banks hoard $3.3 trillion in cash amid fears of an economic slump
▼ + stars: | 2023-09-06 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Since the collapse of SVB and Signature Bank in March, US banks have become cautious on lending. They're holding a cash pile of $3.3 trillion amid fears of an economic slowdown, Reuters reported. The sector remains subdued after Moody's slashed the credit ratings on 10 US banks in August. US banks are now holding back almost $3.3 trillion in cash amid fears of an economic slowdown, ongoing deposit withdrawals, and stricter liquidity rules, Reuters reported. The banking sector has remained subdued this year and was hit with a ratings downgrade in August.

Persons: Moody's, David Fanger Organizations: Signature Bank, Service, Silicon Valley Bank, Reuters, Moody's, BNY Mellon, US Bancorp Locations: Wall, Silicon

Overall U.S. banks' cash assets were $3.26 trillion as of Aug. 23, up 5.4% from the end of 2022. The SVB failure triggered a sudden dash for cash at banks, which within two weeks had bulked up cash assets to $3.49 trillion, the highest level since April 2022. It has $420 billion in cash and $990 billionof what it calls high quality liquidity assets and other unencumbered securities, it said. "The good news is for some of these banks re-investing cash is that we have pretty high short-term rates," said Mac Sykes, portfolio manager at Gabelli Funds. "It's definitely opportunistic and advantageous to be investing short-term securities."

Persons: Carlo Allegri, David Fanger, Moody's, Brendan Browne, Manan Gosalia, Morgan Stanley, Peter Marshall, Mac Sykes, Saeed Azhar, Ann Saphir, Niket, Megan Davies, Nick Zieminski, Richard Chang Organizations: Bank of America, REUTERS, FRANCISCO, Silicon Valley Bank, Signature Bank, Federal, Graphics, Reuters, JPMorgan, Federal Reserve, Regulators, FDIC, Gabelli, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon

☆ Why Grass Is a Culprit in Some of the World’s Worst Wildfires
▼ + stars: | 2023-08-23 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

☆ Ozempic and Other Diabetes Drugs Show Promise for Treating Addiction
▼ + stars: | 2023-08-19 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

☆ Why More Retailers Are Willing to Pick Up Returns From Your Doorstep
▼ + stars: | 2023-07-31 | by ( Dalvin Brown | ) www.wsj.com time to read: 1 min

How Much It Costs Apple to Make an iPhone 14 Pro Max Apple doesn’t reveal how much it costs to produce an iPhone 14 Pro Max. But analysts have traced the company’s global production lines to get an idea. WSJ’s Dalvin Brown explains why some materials are getting cheaper, while other costs are rising. Photo Composite: David Fang

Persons: Max Apple doesn’t, Max, WSJ’s Dalvin Brown, David Fang

☆ A Groundbreaking Tardigrade Fossil Discovery Offers Clues to Our Past
▼ + stars: | 2023-07-28 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

INVESTMENT BANKING GAINSInvestment banking was a standout, with net income surging 76% to $2.7 billion. The gains were driven by higher interest payments and leasing revenue, the company said. In another surprise bright spot, the bank's sales and trading revenue outperformed expectations to post a 3% increase in revenue to $4.3 billion. Revenue from fixed income, currencies and commodities trading rose 7% to $2.7 billion from a year earlier. The financial health of consumers underpins BofA's consumer banking unit, where revenue rose 15% to $10.5 billion.

Persons: Wells, Brian Moynihan, David Fanger, BofA, Alastair Borthwick, Borthwick, Manya Saini, Saeed Azhar, Lananh Nguyen, Anil D'Silva, Nick Zieminski Organizations: YORK, Bank of America's, Wall, U.S, . Bank of America, JPMorgan Chase, Federal Reserve, " Bank of America's, Investment, Bank of America, Thomson Locations: U.S, dealmaking, Bengaluru, New York

☆ Ozempic’s Other Unexpected Side Effect Is All in Your Head
▼ + stars: | 2023-06-27 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

S1 E43The Brain Science of Aggression and Why Lashing Out Can Feel Good Nearly one in four people surveyed in Gallup's latest Global Emotions Report said they’d recently felt anger. WSJ’s Daniela Hernandez explains the neuroscience behind rage, the roles it plays in our lives and how we can keep it in check. Photo composite: David Fang

Persons: they’d, WSJ’s Daniela Hernandez, David Fang

☆ The Brain Science of Aggression and Why Lashing Out Can Feel Good
▼ + stars: | 2023-06-23 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

The Brain Science of Aggression and Why Lashing Out Can Feel Good Sadness and anger are on the rise, here’s what scientists understand about itBy Daniela Hernandez Jun 23, 2023 11:00 am Nearly one in four people surveyed in Gallup's latest Global Emotions Report said they’d recently felt anger. WSJ’s Daniela Hernandez explains the neuroscience behind rage, the roles it plays in our lives and how we can keep it in check. Photo composite: David Fang

Persons: Daniela Hernandez Jun, they’d, WSJ’s Daniela Hernandez, David Fang

☆ Electric Aircraft Suffer From Short Ranges. Could Towing Be the Answer?
▼ + stars: | 2023-06-16 | by ( George Downs | ) www.wsj.com time to read: 1 min

E54Fires, Short Sellers and an EV Recall: Inside Lordstown Motors’ Decline Lordstown Motors was once in the race to build America’s first EV pickup truck. But now – after vehicle fires, short seller reports and recalls – the company has turned to a reverse stock split to try and avoid filing for bankruptcy protection. Illustration: David Fang

Persons: Short Sellers, –, David Fang Organizations: EV

☆ China’s Maritime Claims Are Pushing Its Neighbors Closer to the U.S.
▼ + stars: | 2023-06-05 | by ( ) www.wsj.com time to read: 1 min

E33Sending Ukraine Tanks Exposed a Rift in NATO. Here’s Why. The intense political negotiations over sending U.S.-made Abrams and German-made Leopards to Ukraine briefly threatened the unity of the NATO alliance. WSJ’s Shelby Holliday looks at what went down and the challenges ahead for the U.S. and its allies. Illustration: David Fang

Persons: Abrams, WSJ’s Shelby Holliday, David Fang Organizations: U.S, Leopards, NATO Locations: Ukraine

☆ Don’t Swing at the Yield Curve
▼ + stars: | 2023-05-17 | by ( Justin Lahart | ) www.wsj.com time to read: 1 min

The inverted Treasury yield curve is hitting extreme new levels. But paradoxically, it may be suggesting that investors are both more worried about a recession and less worried. WSJ’s Dion Rabouin explains. Illustration: David FangWhen the Federal Reserve pushes shorter-term interest rates above long-term Treasury yields, it has typically been a sign that the central bank has tightened to the point that a downturn beckons. Confidence in the predictive power of such yield curve inversions is a big part of why many investors believe the economy is now destined for a recession.

☆ Apple Set to Report Weaker Sales for Second Straight Quarter
▼ + stars: | 2023-05-04 | by ( Aaron Tilley | ) www.wsj.com time to read: 1 min

Apple’s AirPods don’t last very long, and Apple won’t fix them. Photo Composite: David FangApple is expected to report that sales declined for a second straight quarter as demand has waned for some of its products after reaching record levels during the pandemic. The tech giant’s revenue for the three months ended in March is projected by analysts to be $92.9 billion, according to FactSet, down more than 4% from the year-earlier period. Net income is expected to drop nearly 10% year-over-year to $22.6 billion when Apple reports its fiscal second-quarter earnings after markets close Thursday.

☆ The bad loan term that's back for banks trying to spot a recession
▼ + stars: | 2023-04-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +4 min

If there wasn't enough banking jargon to blind you, it's time to learn a new piece of it: Welcome to the industry's era of the "criticized loan." "Criticized loans could be paying or performing but a loan could be singled out because of its collateral." At Bank of America, criticized loans to office building projects rose to $3.7 billion out of $19 billion in office loans. But office buildings represent only a quarter of the bank's commercial real estate loans, and all CRE is just 7% of the bank's total loans and leases. "It's almost impossible for us to see office [losses] more than 4 or 5 percent of office loans.

[1/2] A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. The company "had a strong Q1 as higher interest rates continued to boost its net interest margin despite rising deposit costs," David Fanger, senior vice president at Moody's Investors Service, said. Reuters GraphicsEconomists expect the U.S. economy to slow in the second half of the year as the Federal Reserve raises interest rates to tame inflation. It expects NII to fall 2% in the second quarter compared with the first three months of this year. The company's revenue, net of interest expense, increased 13% to $26.3 billion, beating estimates of $25.13 billion.

☆ Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor day
▼ + stars: | 2023-02-24 | by ( Saeed Azhar | ) www.reuters.com time to read: +6 min

"It's a pretty important investor day," said Mike Cronin, investor director at fund manager abrdn, which owns a stake in the bank. In 2020, Solomon kicked off Goldman's inaugural investor day by telling participants they should feel free to "break into open applause." A deal could broaden Goldman's revenue beyond trading and investment banking, which can be buffeted by economic cycles. The investor day is also an opportunity for the company to address questions around Solomon's leadership after bad press, Mayo said. But several presenters from the 2020 investor day have since left.

☆ Inflation Brain: Why You Seesaw Between Splurging and Penny-Pinching
▼ + stars: | 2023-02-21 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

E33What Science Tells Us About the Surge in Strep and Flu This Season Getting the flu can increase the risk of getting a second infection, including strep throat. WSJ’S Daniela Hernandez explains the science behind that, plus what it means for the rest of the winter and how we can protect ourselves from the tripledemic. Illustration: David Fang

☆ The Science Behind Cold Plunges, Explained in Four Minutes
▼ + stars: | 2023-02-02 | by ( Daniela Hernandez | ) www.wsj.com time to read: 1 min

"With most U.S. economists forecasting either a recession or significant slowdown this year, banks will likely incorporate a more severe economic outlook," said Morgan Stanley analysts led by Betsy Graseck in a note. Rising prices and higher borrowing costs have prompted consumers and businesses to curb their spending, and since banks serve as economic middlemen, their profits decline when activity slows. Reuters GraphicsStill, lenders stand to gain from rising rates that allow them to earn more from the interest they charge borrowers. Morgan Stanley and Citigroup, among others, have also cut jobs after a plunge in investment-banking activity. Analysts will also watch if banks such as Morgan Stanley and Bank of America book any writedowns on the $13-billion loan to fund Elon Musk's purchase of Twitter.

☆ Why Human-Animal Hybrid Brains Hold Promise for Neurological Disease
▼ + stars: | 2022-12-26 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

E35What Science Tells Us About the Surge in Strep and Flu This Season Getting the flu can increase the risk of getting a second infection, including strep throat. WSJ’S Daniela Hernandez explains the science behind that, plus what it means for the rest of the winter and how we can protect ourselves from the tripledemic. Illustration: David Fang

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