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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings growth is a constructive backdrop for stocks: Rockland's David SmithDavid Smith, Rockland Trust chief investment officer, joins 'Power Lunch' to discuss the Fed, jobs numbers, inflation, and the markets.
Persons: Rockland's David Smith David Smith Organizations: Rockland Trust
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRepublic First Bank's failure is not a sign of broader problems among regional banks: AnalystDavid Smith of Autonomous Research discusses why he thinks Republic First Bank is not a "canary in the coal mine" and how a higher-for-longer interest rate environment might affect the regional bank sector.
Persons: David Smith Organizations: Autonomous Research, Bank
David Smith dropped his career as a delivery driver and factory worker to become a Henry VIII impersonator. He earns a living by giving talks and performances as Henry VIII at schools and heritage sites. I was eight years old when I saw a portrait of Henry VIII in all his regalia. Everything changed when I found a Henry VIII outfit on Facebook Marketplace for £20 ($25) in 2021. Out of all the events I've attended, that was the one that made me feel most like Henry VIII.
Persons: David Smith, Henry VIII, wouldn't, , Smith, I'd, King, Henry, Henry VIII's, Anne Boleyn, Marquess, I've, must've, Henry Smith, wasn't, I'm, It's Organizations: Service, Facebook, Hatfield House Locations: Penshurst, Hatfield, Hatfield House, Salisbury
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load. Beyond Pizza and Yale: What to See, Eat and Do in New HavenThough the academic scene continues to imbue this coastal Connecticut city with a certain gravitas, surrounding neighborhoods are showing off their own cultural capital in the realms of art, food, music and more. Share full articleYale University Art Gallery’s outdoor sculpture area, in New Haven, Conn., includes pieces by Alexander Calder, left, and David Smith, center. Credit... Philip Keith for The New York Times
Persons: Alexander Calder, David Smith, Philip Keith Organizations: Yale, Yale University Art, The New York Locations: New Haven, Connecticut, Conn
If shareholders approve the merger, it would enable Trump Media to go public and Trump to own a stake worth about $4 billion. In the US, a political party’s presidential nominee has never owned a major media platform worth so much. Furthermore, the possibility of this added Truth Social muscle for Trump arrives as right-wing MAGA messaging finds more outlets at the national and grassroots levels. And, while Trump has stuck with Truth Social, X has become a haven for right-wing conspiracies of all kinds. MAGA-friendly, right-wing media is growing at the grassroots level as well.
Persons: David Zurawik, Donald Trump, David Zurawik Mich Rouse, Trump, MAGA, Jay Ritter, Julia Nikhinson, Joe Biden, Lyndon Johnson, Johnson, John F, Kennedy, Lady Bird, Elon Musk, Tucker Carlson, Vladimir Putin, Carlson, Megyn Kelly, Eric Bolling, That’s, David Smith, Sinclair Organizations: Goucher College, Baltimore Sun, CNN, Trump, Securities, Exchange Commission, SEC, Trump Media & Technology Group, Trump Media, University of Florida, Getty, Republican, Federal Communications Commission, Johnsons, Twitter, Facebook, Fox News, Russian, Fox, Tucker Carlson Network, Sinclair Broadcast Group, Digital Locations: Conway , South Carolina, AFP, Austin , Texas, Texas, Maryland
Read previewAnother family is claiming their son's organs went inexplicably missing after being incarcerated by the Alabama Department of Corrections (ADOC), court documents viewed by Business Insider show. Dotson's family has yet to find out what happened to their son's heart as the case remains open. Lauren Faraino, an attorney representing Dotson's family, did not immediately return a request for comment sent outside of working hours. Correction: January 10, 2024 — An earlier version of this story misidentified the facility that performed Brandon Clay Dotson's autopsy. It was done by the Alabama Department of Forensic Sciences, not the University of Alabama at Birmingham.
Persons: , Brandon Clay Dotson, Dotson, Dotson's, Charlene Drake, Charles Edward Singleton, Hamilton, David Smith, Charles had, Smith, ADOC, Drake, Singleton, Charles, Lauren Faraino, Faraino, Brandon Clay Organizations: Service, Alabama Department of Corrections, Business, Alabama, Hamilton, Infirmed Center, University of Alabama, Birmingham, UAB, ABC, Associated Press, Alabama Department of Forensic Sciences Locations: Ventress, Birmingham, Dotson's
Will savings rates drop after the next Fed meeting? It's unlikely national savings rates will drop after the next Fed meeting. What happens to savings rates when the Fed raises interest rates? In early 2024, savings rates are generally expected to be similar to current savings rates. Once the Fed plans to start cutting rates, however, savings rates will likely begin to go down in 2024.
Persons: Jerome Powell, Powell, David Smith, It's, it's Organizations: Federal Reserve, Federal, Committee, Pepperdine Graziadio Business, Spelman College
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe likelihood of a soft landing is extremely high, says Rockland's David SmithDavid Smith, Rockland Trust chief investment officer, joins 'Power Lunch' to discuss the market, what's ahead for the Federal Reserve, the likelihood of a recession and more.
Persons: Rockland's David Smith David Smith Organizations: Rockland Trust, Federal Reserve
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon-Pioneer deal supports cash flow and dividend, says Rockland Trust's David SmithDavid Smith, CIO of Rockland Trust Investment Management Group, joins 'Power Lunch' to discuss the difficulty investors are having predicting market performance given the economic environment, and the case for growth stocks in a volatile market, and opportunities to invest in companies with strong multiple expansion.
Persons: Rockland, David Smith David Smith Organizations: Exxon, Pioneer, Rockland Trust Investment Management Group Locations: Rockland
U.S. bank shares dropped on Tuesday after ratings agency Moody's downgraded credit ratings of several U.S. regional lenders and placed some banking giants on review for potential downgrade. It warned lenders will find it harder to make money as interest rates remain high, funding costs climb and a potential recession looms. The warning caught some investors off guard. On Tuesday, SPDR S&P Regional Banking ETF's (KRE.P) options-based 30-day implied volatility rose to 31.1%, up from 28.9% touched on Monday. "In the near term, there are reasons for caution about banks in general and we have made changes where appropriate," he said.
Persons: SPDR, Steve Sosnick, There's, David Wagner, David Smith, Brian Mulberry, Michelle Price, Diane Craft Organizations: Moody's Corporation, P Bank, Regional Banking, Silicon Valley Bank, Banking, Interactive, Alert, Aptus Capital, Autonomous Research, Analysts, Zacks Investment Management, Thomson Locations: Manhattan , New York, U.S, Silicon
It will be based in Los Angeles and led by Banc of California CEO Jared Wolff. Shares of PacWest surged 34% after the market close, while Banc of California jumped 9%. PacWest stockholders will receive 0.6569 Banc of California shares for each PacWest share they currently own. Meanwhile, the two private equity firms will be issued new Banc of California stock worth $400 million at a price of $12.30 per share. PacWest had total assets of $44 billion at the end of March, while Banc of California had assets of $10 billion, according to separate company filings.
Persons: Warburg Pincus, Centerbridge, Jared Wolff, PacWest, Timothy Coffey, Janney Montgomery Scott, Janet Yellen, Ares Management, Wolff, We've, David Smith, Nomura, Niket, Nupur Anand, David French, Pete Schroeder, Tatiana Bautzer, Megan Davies, Lananh Nguyen, Arun Koyyur, Jonathan Oatis, Sonali Paul Organizations: PacWest Bancorp, Warburg, Centerbridge Partners, midsize, RARE, Bank, Pacific Western Bank, Federal Deposit Insurance Corporation, Autonomous Research, U.S, Thomson Locations: Banc, California, Los Angeles, U.S, Bengaluru, New York
LONDON, July 24 (Reuters) - Almost 30 ships dropped anchor near Ukraine's crucial Izmail port terminal after Russia destroyed grain warehouses on the Danube river on Monday, data showed, although it was unclear exactly what had caused them to stop. Monday's pre-dawn Russian air strikes wounded seven people and hit infrastructure along the Danube, a vital alternative route for Ukrainian grain since the demise last week of a year-old deal allowing safe exports via the Black Sea. Kyiv said the attack was an expansion of an air campaign Russia launched last week after pulling out of the grain deal. Insurance industry sources have said war risk cover for Ukraine's ports that were part of the previous grain deal had been suspended. On Monday, three sources said some providers were also reviewing whether to continue to provide cover for Danube ports.
Persons: Monday's, Odesa, David Smith, Jonathan Saul, Olena, Carolyn Cohn, Philippa Fletcher Organizations: Insurance, McGill, Reuters, Thomson Locations: Russia, Kyiv, Izmail, Reni, Ukraine, London
What’s ahead this week for Wall Street and the economy
  + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com   time to read: +5 min
Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.
Persons: Jerome Powell, David Smith, Powell, Christopher Waller, , Dustin Thackeray, Tesla, Chris Isidore, , Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean
In March, a team of mathematical tilers announced their solution to a storied problem: They had discovered an elusive “einstein” — a single shape that tiles a plane, or an infinite two-dimensional flat surface, but only in a nonrepeating pattern. “I’ve always wanted to make a discovery,” David Smith, the shape hobbyist whose original find spurred the research, said at the time. The researchers might have been satisfied with the discovery and the hullabaloo, and left well enough alone. But Mr. Smith, of Bridlington in East Yorkshire, England, and known as an “imaginative tinkerer,” could not stop tinkering. Now, two months later, the team has one-upped itself with a new-and-improved einstein.
Persons: einstein, I’ve, ” David Smith, Smith, einstein ”, stein, Jimmy Kimmel, , , Marjorie Senechal Organizations: University of Oxford, Smith College Locations: Bridlington, East Yorkshire, England
Berkshire invests in Capital One, sheds four stocks
  + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com   time to read: +3 min
Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.
The assertion in the introduction that the Fed should focus on large bank capital requirements is disconnected from the report's conclusions. AMERICAN BANK ASSOCIATION PRESIDENT AND CEO ROB NICOLS"We take any bank failure seriously, and we will review the findings and proposed policy changes in these reports carefully, including where the conclusions may differ. JONATHAN MONDILLO, HEAD OF NORTH AMERICAN FIXED INCOME AT ABRDN"We're likely to see higher capital requirements. What that means for the overall markets is that the devil is in the details: how stringent those capital requirements will be. A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals."
Many commentators linked the lessons learned from the earlier crisis to the ongoing concerns about First Republic Bank. INSTITUTE OF INTERNATIONAL BANKERS CEO BETH ZORC"The IIB commends the Federal Reserve's timeliness of producing its report on SVB. "There are similarities between SVB's situation and what is happening with First Republic Bank: both are affected by the rapid movement of very large sums of money." A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals." "It feels isolated, than the rest of the regional bank system, feels like it's in a different place than where FRC is."
Called “The hat” because it vaguely resembles a fedora, the elusive shape is an “einstein” (from the German “ein stein,” or “one stone”). “I’m not really into math, to be honest — I did it at school, but I didn’t excel in it,” Smith said. “The hat,” however, is an aperiodic tile, meaning it can still completely cover a surface without any gaps, but you can never identify any cluster that periodically repeats itself to do so. How ‘The hat’ worksThere’s nothing inherently magical about “The hat,” according to Kaplan. “We’re not trying to protect it in any way,” Kaplan said.
The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.
An aperiodic tiling displays no such “translational symmetry,” and mathematicians have long sought a single shape that could tile the plane in such a fashion. “I’m always messing about and experimenting with shapes,” said Mr. Smith, 64, who worked as a printing technician, among other jobs, and retired early. But he has long been “obsessively intrigued” by the einstein problem. And now a new paper — by Mr. Smith and three co-authors with mathematical and computational expertise — proves Mr. Smith’s discovery true. (Mr. Smith often sports a bandanna tied around his head.)
March 27 (Reuters) - First Republic Bank (FRC.N) became the epicenter of the U.S. regional banking crisis after the wealthy clients it courted to fuel its breakneck growth started withdrawing deposits and left the bank reeling. Reuters GraphicsFor years, First Republic lured high net-worth customers with preferential rates on mortgages and loans. Morgan Stanley analysts estimated a deposit outflow of nearly half of total deposits according to a March 20 note. First Republic's loan book and investment portfolio also became less valuable as interest rates rose, which is hampering a capital raise. "Wealthy customers were drawn to First Republic in part because they could get large mortgages at rock-bottom interest rates," said McCoy.
Comedian Chris Rock said on Sunday that arresting Donald Trump would only boost his popularity. He compared the possible indictment to how Tupac Shakur released a bestselling album from prison. Rock joked that apprehending Trump "is only going to make him more popular," The Guardian's David Smith and Deadline reported. "It is like arresting Tupac. The comedian's mention of rapper Tupac Shakur likely referred to when Shakur served eight months in prison in 1995 on a sexual assault charge that he later appealed.
Police located three badly injured females inside the building, one of whom later died in hospital. The other two were in critical condition, and seven other people were hospitalized with non-life threatening injuries, Smith said. "We do not have any evidence of gunshots being fired or anyone being shot or stabbed at the scene," Smith added. The Main Street Armory is a popular local entertainment venue that holds 5,000 people. Sixteen months ago, 10 people died in a stampede at a concert by rapper Travis Scott at Houston's Astroworld Festival.
Kroger is texting and emailing ex-workers to encourage their return amid a wider labor shortage. Associated Wholesale Grocers is messaging former workers on Facebook and LinkedIn to get them back. Manufacturer General Mills has a pilot program to bring retirees back to fill staffing gaps. Associated Wholesale Grocers is messaging ex-workers on Facebook and LinkedIn and the average number of rehires has increased four-fold. Kroger, General Mills and Associated Wholesale Grocers didn't immediately respond to requests for comment from Insider made outside normal working hours.
Could Boris Johnson be the 'new' British prime minister?
  + stars: | 2022-10-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCould Boris Johnson be the 'new' British prime minister? David Smith, D.C. bureau chief for The Guardian, joins Tyler Mathisen and 'The News with Shepard Smith' to discuss the likelihood Boris Johnson could come back as British Prime Minister following the resignation of Liz Truss.
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