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☆ More CEOs are deciding the stress, pressure, and loneliness are just not worth the money
▼ + stars: | 2024-04-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Pressure, stress, and lonelinessHead honchos have been calling out the difficulties of their jobs for years. Tesla and SpaceX CEO Elon Musk has bemoaned that running a company is "really not that fun" and "just awful" at times. "The depths of loneliness I experienced as a CEO are difficult to put into words," he posted on X in January. The combination of immense pressure, stress, loneliness, and lack of work-life balance that often comes with being a CEO may well explain why few people last long in the role.

Persons: —, HSBC's Noel Quinn, Bob Bakish, Dr Martens, Kenny Wilson, Andrew Challenger, HSBC's Quinn, Elon Musk, Musk, Grzegorz Wajda, Brian Chesky, Warren Buffett, Berkshire Hathaway, Buffett Organizations: Service, Paramount, Business, SpaceX, Berkshire, he's

☆ Elon Musk vs Australia: Fight heats up over Sydney church stabbing video on X
▼ + stars: | 2024-04-24 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +8 min

The country’s e-safety commissioner ordered social media giants to take it down. Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks. With her message to Musk, Australian Senator Jacqui Lambie posted an image of herself in army fatigues taken at a Veteran Mentors' Junior Leadership camp in January. President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s e-safety commissioner. In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.

Persons: Elon Musk, that’s, X, ’, Anthony Albanese, Jacqui Lambie, “, hadn’t, ”, fatigues, AJA, David Adler, Adler, AJA hasn’t, Krissy Barrett, Reece Kershaw, Marcus Hoyne, Bishop, Bishop Mar Mari Emmanuel, Joanne Gray, Grzegorz Wajda, Gray, Musk, Musk’s, Australia’s, Lambie’s Organizations: Australia CNN, Christian Church, Australian, Leadership, Australian Jewish Association, CNN, ” CNN, Joint Counter, Counter, New South Wales Police Seven, Australian Federal Police, AFP, Australia’s Security Intelligence Organisation, National Press Club, Musk, Court, Bishop Mar, Good Shepherd, University of Sydney, European Jewish Association, X Corp Locations: Brisbane, Australia, Sydney, Tasmania, United States, New, Australia’s, Krakow, Poland

☆ TikTok's time in the US could soon be on the clock, and that's not the app's only problem
▼ + stars: | 2024-04-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.

Persons: —, Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London

☆ TSMC beats first-quarter revenue and profit expectations on strong AI chip demand
▼ + stars: | 2024-04-18 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the first quarter, thanks to continued strong demand for advanced chips, particularly those used in AI applications. The firm guided first-quarter revenue to be between $18 billion and $18.8 billion. The continued demand for advanced chips, particularly those used in AI applications, is a positive sign for both the short and long term. "TSMC's net profit margin continues to be one of the highest in the company's history at 40%, against an industry average of 14%, demonstrating TSMC's strong competitive position.

Persons: Amber Wang, Brady Wang, TSMC, Grzegorz Drozdz Organizations: Taiwan Semiconductor Manufacturing Company, Center, Nvidia, Apple, Counterpoint Research, Research, Samsung Foundry Locations: Hsinchu, AFP, Taiwan, U.S, Arizona

☆ Dogs can match some words with objects, study suggests
▼ + stars: | 2024-04-01 | by ( Issy Ronald | ) edition.cnn.com time to read: +5 min

CNN —Dogs can understand that certain words refer to specific objects, according to a recent study, suggesting that they may understand words in a similar way to humans. As the study’s lead authors, they devised an experiment in which 18 dog owners said words for objects their dogs already knew. They said that the resulting brain activity was the same as those produced by humans in similar experiments. Researchers measured the dogs' brain activity. Previous experiments testing dogs’ understanding of nouns had involved them fetching specific objects when asked, according to a statement released by the Eötvös Loránd University.

Persons: ”, Lilla Magyari, Marianna Boros, Grzegorz Eliasiewicz, ” Boros, –, Magyari, ” Magyari, ” Clive Wynne, Oszkar Daniel Gati Organizations: CNN, Stavanger University, Eötvös Loránd University, Loránd University, Arizona State University Locations: Norway, Hungary

☆ Google and Apple's rumored partnership could upend the AI industry
▼ + stars: | 2024-03-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at what a potential partnership between Google and Apple over AI features would mean for both companies and the wider industry. The big storyGoogle, Apple, AIRebecca Zisser/BITwo of the world's biggest tech companies are reportedly discussing a partnership that would upend the AI industry. Apple is considering integrating Google's AI model, Gemini, into the iPhone . The company has been noticeably quiet around its AI plans compared to peers like Google, Microsoft, Meta, and Amazon. So even if Apple and Google come to an agreement, they could still face some serious regulatory pushback.

Persons: —, hasn't, Rebecca Zisser, Mark Gurman, Sundar Pichai, Apple, it's, Tim Cook, Google's Gemini, Insider's Hasan Chowdhury, BI's Phil Rosen, Mike Coppola, Jerod Harris, Grzegorz Wajda, Chelsea Jia Feng, It's, OpenAI, Stephanie Cohen, Goldman Sach's, Goldman Sachs, Jenny Chang, Rodriguez, Goldman, Josh Edelson, Chip Somodevilla, TikTok, Jensen Huang, Blackwell, Alyssa Powell, elbowed, Manoj Bhargava, Steve Huffman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Google, Apple, Business, Gemini, Microsoft, Meta, Google's, Getty, Vox Media, Getty Images, Department of, Big Tech, Wall, Cloudflare, Bank of Japan, SXSW, Nvidia, Sports Illustrated, Arena Group Locations: AFP, Woodstock, Arizona , Florida , Illinois , Kansas, Ohio, New York, London

☆ Men benefit more from their looks at work than women do, new research shows
▼ + stars: | 2024-02-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

New research upends the trope that women use their looks to get ahead in their careers, showing that men actually reap greater benefits from being attractive in the workplace. A recent study of more than 11,000 Americans conducted over 20 years has found that good-looking men are more likely to attain better jobs and make more money than similarly attractive women. Alexi Gugushvili and Grzegorz Bulczak recorded participants' demographic information and socioeconomic status, then asked volunteers to rate the participants' physical attractiveness on a 4-point scale: Very attractive, attractive, unattractive, and very unattractive. Even with potential obstacles like coming from a low-income household or growing up in a dangerous neighborhood, attractive men still managed to achieve upward mobility. Good-looking women had a slight advantage in their careers over other women deemed less attractive, but men saw the greatest benefits from their physical appearance, according to the report.

Persons: Alexi Gugushvili, Grzegorz Bulczak, Bulczak, it's Organizations: University of Oslo, Polish Academy of Sciences, Adolescent Health

☆ Polish Lawmaker Who Extinguished Hanukkah Candles Loses Immunity
▼ + stars: | 2024-01-17 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

WARSAW (Reuters) - Poland's parliament has voted to remove the immunity from prosecution of a lawmaker who used a fire extinguisher to put out Jewish Hanukkah candles in the country's parliament in December, an incident that caused international outrage. The vote opens the way for prosecutors to press charges against Grzegorz Braun from the far-right Confederation party for seven acts committed during 2022 and 2023, including the incident involving the candles. The largest opposition party, the nationalist law and Justice (PiS), also voted in favour of removing Braun's immunity. After extinguishing the candles in the parliament on Dec. 12, Braun took to the podium where he described Hanukkah as "satanic" and said he was restoring "normality". Asked later if he was ashamed of his action, he said: "Those who take part in acts of satanic worship should be ashamed."

Persons: Grzegorz Braun, Agnieszka Pomaska, Mariusz Dubowski, Braun, Alan Charlish, Gareth Jones Organizations: Civic Coalition, Warsaw, European Union Locations: WARSAW, Ukraine

The plea deals end a years-long investigation into the crypto exchange. Binance holds around $2.8 billion worth of BNB tokens, according to Nansen. Binance remains the world's largest crypto exchange globally, processing billions of dollars in trading volume every year. "This, combined with the likely imminent approval of an ETF based on bitcoin quotes, could positively impact the crypto market in the long term," said Drozdz. Binance has agreed to forfeit $2.5 billion to the government and to pay a fine of $1.8 billion.

Persons: Binance's, Changpeng Zhao, Ben Mcshane, Sportsfile, Nansen, Binance, Grzegorz Drozdz, Bitcoin, Drozdz, Zhao, Yesha Yadav, Milton R, Underwood, General Merrick Garland, Garland, Richard Teng, Teng, Janet Yellen, Al, Yellen Organizations: Getty, Department of Justice, ., SEC, Conotoxia, CNBC, DOJ, Vanderbilt University, Justice Department, U.S, Monetary Authority of Singapore, Binance, Futures Trading Commission, Treasury Department, The Securities, Exchange Commission, ISIS Locations: Lisbon, Portugal, Binance, Nansen, U.S, Abu Dhabi

☆ Polish bishop resigns amid alleged sex scandal at diocese
▼ + stars: | 2023-10-25 | by ( Lindsay Isaac | Antonia Mortensen | ) edition.cnn.com time to read: +1 min

CNN —The Vatican has accepted the resignation of a Polish bishop who stepped down after a sex scandal involving clergy from his diocese in the southern Polish city of Sosnowiec. According to Poland’s state news agency, the parish has been hit by a string of scandals over the past few years involving priests under the administration of Bishop Grzegorz Kaszak. The allegations that precipitated the bishop’s resignation are connected to an incident in September, widely reported in Polish media, in which a priest identified as Fr. Tomasza Z allegedly hosted several other priests and a male prostitute at his apartment. Tomasza Z has since been dismissed, according to PAP.

Persons: Bishop Grzegorz Kaszak, Kaszak, Nunciature, “, Father Francis, Bishop of Sosnowiec, Adrian Galbas, Tomasza, Tomasza Z Organizations: CNN, of Locations: Polish, Sosnowiec, of Sosnowiec, Katowice

☆ Polish Bishop Resigns After Diocese Is Rocked by Sex Scandal
▼ + stars: | 2023-10-24 | by ( Andrew Higgins | More About Andrew Higgins | ) www.nytimes.com time to read: +1 min

A Polish bishop whose diocese has been badly tarnished by reports of a gay orgy involving priests and a prostitute resigned on Tuesday, the latest in a long series of sexual and financial scandals in Poland’s Roman Catholic Church. Grzegorz Kaszak, the bishop of Sosnowiec in southwestern Poland, announced his departure after one of his priests was placed under criminal investigation in connection with reports last month that he had organized a sex party during which a male prostitute lost consciousness from an overdose of erectile dysfunction pills. Gazeta Wyborcza, a liberal daily newspaper, reported in September that one of the priests at the gathering, held in a building belonging to the parish of the Blessed Virgin Mary of the Angels in the town of Dabrowa Gornicza, had called an ambulance. Others at the party prevented paramedics from tending to the unconscious man, the paper reported, but the paramedics called the police and the priests relented. The priest who organized the gathering in his church apartment, identified by the diocese only as Father Tomasz Z., gave a statement last month to Polish media that disputed details of what had happened, quibbling over the number of priests present at the time of the alleged sex party and saying that “it is worth reading what the definition of an orgy is.”

Persons: Grzegorz Kaszak, Blessed Virgin Mary of, Tomasz Z, quibbling, ” Organizations: Poland’s Roman Catholic Church, Gazeta Wyborcza, Angels Locations: Poland’s, Sosnowiec, Poland, Dabrowa Gornicza

☆ Polish bishop resigns after priestly sex party scandal
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

WARSAW, Oct 24 (Reuters) - A Polish bishop, whose diocese was reportedly the scene of a sex party organised by priests at which Polish media say a male prostitute collapsed after taking erectile dysfunction pills, has resigned, the Vatican said on Tuesday. The statement did not give a reason for the resignation of Bishop Grzegorz Kaszak, saying only that the pope had accepted it. According to Polish media reports, a male prostitute collapsed at the party after taking too many erectile dysfunction pills. The priest who hosted the party in his apartment, named as Tomasz Z, was eventually dismissed, according to the state-run news agency PAP. The diocese said his behaviour was "a cause of great scandal for the faithful and justified indignation of public opinion", PAP reported.

Persons: Bishop Grzegorz Kaszak, Kaszak, Tomasz Z, Alan Charlish, Alvise Armellini, David Holmes Organizations: Gazeta Wyborcza, Thomson Locations: WARSAW, Kaszak's, Poland, Dabrowa Gornicza, Warsaw, Rome

"Public media are paid for with our taxes in order to give citizens access to fair information. And that's particularly important at... election time," said Joanna Krawczyk from the German Marshall Fund, a think-tank. PiS says private media outlets such as Warner Bros' (WBD.O) TVN often distort public debate by representing foreign interests. This perceived bias in public broadcasting has exacerbated political divisions in Polish society. "When she watches TVP, he goes to the kitchen."

Persons: Kacper, TVP, Szalai, RSF, Joanna Krawczyk, KRRiT, PiS, Grzegorz Lewandowski, Donald Tusk, Alan Charlish, Gareth Jones Organizations: Telewizja Polska SA, REUTERS, Sunday Government, WARSAW, Law and Justice, Media, German Marshall Fund, European Union, Civic Coalition, Reuters, Warner Bros, TVN, European Centre for Press, Media Freedom, Thomson Locations: Warsaw, Poland, TVP, Sochaczew, Hungary, Turkey, Russia

☆ VIEW Turkey cements policy shift with super-sized rate hike
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +5 min

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. "We should recall that sudden changes in interest rates usually have a delayed effect. "This was also the steepest rate hike since the CBT management reshuffle after the elections in May. We think the strong rate hike meant to address market concerns that the CBT wanted to avoid significant rate hike." TIMOTHY ASH, BLUEBAY ASSET MANAGEMENT, LONDON"Really solid move by the CBRT (central bank) to hike policy rates arguably above expectations by 750bps to 25%."

Persons: Cagla, GRZEGORZ DROZDZ, TIMOTHY ASH, 750bps, Hatice Karahan, Hatice Gaye, PIOTR MATYS, Governor Erkan, Erdogan, LIAM PEACH, Erkan, OZKARDESKAYA, SWISSQUOTE Organizations: Turkey's Central, REUTERS, Reuters, Thomson Locations: Ankara, Turkey, Turkish, EMERGINGMARKETWATCH.COM, SOFIA, GENEVA

Moscow's actions have deprived many foreign investors of the ability to trade in Russian securities, including depositary receipts. Investors are worried about future copycat actions by other governments who might look to reduce foreign influence over their leading companies. Depositary receipts, or DRs, are certificates issued by a bank representing shares in a foreign company traded on a local stock exchange. But events in Russia have forced many investors to write down the value of depositary receipts of Russian companies to zero, given their inability to trade them. CONSEQUENCESLoss of confidence in DRs could drain needed foreign capital from firms in emerging economies, for instance.

Persons: Dado Ruvic, Peter C, Earle, Christopher Day, Michael Ashley Schulman, Goldman Sachs, III, Detsky Mir, Goldman, Otkrytie, Schulman, Grzegorz Drozdz, Malcolm Dorson, Sinead Cruise, Carolina Mandl, David Gregorio Our Organizations: REUTERS, Global, American Institute for Economic Research, Reuters, Citigroup, Companies, Citi ., Reuters Graphics, DR, Investors, Doliver Advisors, Running, Capital Advisors, Conotoxia, Russian, Thomson Locations: Moscow, Ukraine, Brazil, China, Russia, GDR, GDRs, United States, Britain, London, Carolina, New York

☆ Poland finds leak on one part of Druzhba oil pipeline from Russia to Europe
▼ + stars: | 2023-08-06 | by ( Anna Wlodarczak-Semczuk | ) www.reuters.com time to read: +4 min

A view shows a leak detected in Druzhba oil pipeline as reported by Polish pipeline operator PERN, in Chodecz, Poland August 5, 2023, in this picture obtained from social media. The leak was detected near Chodecz, central Poland, on one of the two lines of the western section of the Druzhba through which crude oil reaches Germany, PERN said. Germany stopped buying Russian oil in January, but German media have reported that Kazakh oil was being imported through the line. The Druzhba oil pipeline is one of the world's largest and can carry 2 million barrels per day. Flows through the Druzhba pipeline have dropped sharply since Russia's invasion of Ukraine and pipeline infrastructure has been hit several times since in attacks that Moscow has blamed on Ukraine.

Persons: Anna Trzeciakowska, Grzegorz Jankowski, Vera Eckhert, Pavel Polityuk, Frances Kerry, Philippa Fletcher Organizations: REUTERS Companies, Firefighters, State Fire Services, TVN24, German Economy Ministry, Thomson Locations: Chodecz, Poland, WARSAW, Russia, Europe, Moscow, Ukraine, Germany, Wloclawek, Eastern, Central Europe, Belarus, Nord, Baltic

☆ She Opened a Bookshop in Brooklyn, Then Moved In Above the Store
▼ + stars: | 2023-07-17 | by ( D.W. Gibson | ) www.nytimes.com time to read: +1 min

The good feeling she had when she walked into the first-floor commercial space in the three-story brownstone was equaled by the good feeling that hit her when she met the landlord, Grzegorz (Gregory) Pasternak. I love that about him.”Ms. Blat learned that Mr. Pasternak had owned the place, a designated landmark, for decades, as he walked her through 30 years of history. “I realized immediately after talking to her,” Mr. Pasternak said, “that the space fit her very well because it had a previous history of being artsy. The experience wasn’t like any other landlord experience I’ve had in New York. Usually all they want is your money and they don’t really care about what you’re doing,” she said, laughing.

Persons: Gregory, Pasternak, “, ”, ” Ms, Blat, Henry Miller’s, ” Mr, I’ve Locations: New York

☆ The 21 new cardinals named by Pope Francis on Sunday
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +2 min

VATICAN CITY, July 9 (Reuters) - Pope Francis announced on Sunday that he would induct 21 churchmen to the high rank of cardinal in September. The following are set to become cardinals:Cardinal Electors under 801 - Archbishop Robert Prevost, American, Vatican official, head of the Dicastery for Bishops2 - Archbishop Claudio Gugerotti, Italian, Vatican official, head of the Dicastery for the Eastern Churches3 - Archbishop Víctor Fernández, Argentine, Vatican official, head of the Dicastery for the Doctrine of the Faith4 - Archbishop Emil Tscherrig, Swiss, Vatican ambassador to Italy5 - Archbishop Christophe Pierre, French, Vatican ambassador to the United States6 - Archbishop Pierbattista Pizzaballa, Italian, Latin Patriarch of Jerusalem7 - Archbishop Stephen Brislin, South African, Archbishop of Cape Town8 - Archbishop Ángel Rossi, Argentine, Archbishop of Córdoba9 - Archbishop Luis Aparicio, Colombian, Archbishop of Bogotá10 - Archbishop Grzegorz Ryś, Polish, Archbishop of Lodz11 - Archbishop Stephen Mulla, Sudanese, Archbishop of Juba, South Sudan12 - Archbishop José Cano, Spanish, Archbishop of Madrid13 - Archbishop Protase Rugambwa, Tanzanian, Archbishop of Tabora14 - Bishop Sebastian Francis, Malaysian, Bishop of Penang15 - Bishop Stephen Chow Sau-Yan, Bishop of Hong Kong16 - Archbishop François-Xavier Bustillo, Spanish-French, Bishop of Ajaccio, Corsica. 17 - Bishop Américo Alves Aguiar, Portuguese, Auxiliary Bishop of Lisbon18 - Father Ángel Fernández Artime, Spanish, head of the Salesian orderOver 80 and not eligible to enter a conclave19 - Archbishop Agostino Marchetto, Italian, former Vatican diplomat20 - Archbishop Diego Padrón Sánchez, Venezuelan, Archbishop Emeritus of Cumaná. 21- Father Luis Dri, Argentine priestReporting by Philip Pulella and Federico Maccioni; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Pope Francis, Cardinal, Robert Prevost, Claudio Gugerotti, Víctor Fernández, Emil Tscherrig, Christophe Pierre, Pierbattista Pizzaballa, Stephen Brislin, Ángel Rossi, Luis Aparicio, Grzegorz Ryś, Stephen Mulla, of, José Cano, Protase Rugambwa, Bishop Sebastian Francis, Bishop Stephen Chow Sau, Bishop, François, Xavier Bustillo, Bishop of, Bishop Américo Alves Aguiar, Ángel Fernández, Agostino Marchetto, Diego Padrón Sánchez, Luis Dri, Philip Pulella, Federico Maccioni, Alexander Smith Organizations: CITY, Cardinal Electors, Vatican, Bishops, Cape, Argentine, Salesian, Cumaná, Thomson Locations: Argentine, Italy, Vatican, United States, Jerusalem, South, Córdoba, Bogotá, Lodz, of Juba, South Sudan, Madrid, Tabora, Bishop, Penang, Hong Kong, Spanish, Bishop of Ajaccio, Corsica, Portuguese, Lisbon

☆ Coca-Cola to see less pain from looming WHO decision on aspartame - analysts
▼ + stars: | 2023-06-30 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

June 30 (Reuters) - Coca-Cola (KO.N) will only see a limited impact if the world health agency classifies the artificial sweetener used in its Diet Coke, aspartame, as a possible carcinogen, thanks to its scale of production, analysts said on Friday. But for Coca-Cola, whose low-calorie products accounted for a third of its total volumes sold in 2022, analysts said switching to a natural sweetener could be easier than many other companies that use aspartame. In the past, beverage makers like Coca-Cola and PepsiCo have tweaked their ingredient composition to comply with evolving policy changes. However, PepsiCo could get an edge over its rival as it had moved away from aspartame to a blend of sucralose and acesulfame potassium earlier, CFRA Research said. Reporting by Savyata Mishra in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Charlie Higgs, Grzegorz, Savyata Mishra, Arun Koyyur Organizations: World Health, Redburn Ltd, Cola, PepsiCo, Conotoxia, Research, Thomson Locations: California, Bengaluru

☆ Clearstream suspends processing of new Russian share conversions after EU sanctions
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

June 29 (Reuters) - European clearing giant Clearstream has suspended processing new client instructions to convert or cancel their American and Global Depository Receipt holdings in Russian companies after the latest round of European Union sanctions against Moscow. Investors globally are facing challenges in recovering stranded Russian investments in a saga that is spilling over to implicate Western depositories. Deutsche Bank (DBKGn.DE) has told clients it can no longer guarantee full access to Russian stocks that belong to them. Clearstream previously halted DR conversions in June 2022, only to resume processing in October. "The new rules quite strictly limit the conditions for the conversion of Russian securities for residents and citizens of the European Union," Grzegorz Drozdz, market analyst at investment company Conotoxia said.

Persons: Western, Clearstream, Grzegorz Drozdz, Conotoxia, Alexander Marrow, Sinead Cruise, Emelia Sithole Organizations: Global, Union, Moscow, Deutsche Bank, Deutsche, EU, Clearstream Banking, European Union, Thomson Locations: Russia, Europe

☆ Analysis: Stablecoin regulatory crackdown sends warning to industry
▼ + stars: | 2023-02-22 | by ( Hannah Lang | ) www.reuters.com time to read: +5 min

But usage is raising questions from regulators who have expressed concern about the disclosures stablecoin issuers provide, as well as the tokens' potential instability during periods of stress. While the crypto industry has criticized the SEC's broad industry crackdown, the move against Binance USD, the third-biggest stablecoin with about $16 billion in circulation, could lend some guidelines for which stablecoin activities may get scrutinized. SEC Chairman Gary Gensler has previously said he believes some stablecoins are in fact securities, which require registration and additional regulatory oversight. The New York Department of Financial Services also ordered Paxos last week to stop minting Binance USD. But the specific features of tokens like Binance USD have some stablecoin issuers keen to highlight their differences.

☆ AI Tech Enables Industrial-Scale Intellectual-Property Theft, Say Critics
▼ + stars: | 2023-02-04 | by ( Christopher Mims | ) www.wsj.com time to read: 1 min

Grzegorz Rutkowski has studied the great masters of texture and light—Caravaggio, Rembrandt, Vermeer—and his ability to mimic their techniques has made him an in-demand painter of fantastical beasts and landscapes for the videogame industry. But these days, instead of devoting all his time to painting in his sun-dappled studio near the picturesque medieval square in the town of Pieńsk, Poland, he’s spending ever more of it on Zoom calls, talking to lawyers, artists and others about the strange reason he is suddenly far more famous than he ever thought possible.

☆ Cyber Chiefs Face Scrutiny and Challenges in 2023’s Uncertain Economy
▼ + stars: | 2023-01-04 | by ( James Rundle | Catherine Stupp | ) www.wsj.com time to read: +5 min

That leaves security teams, in real terms, working with fewer resources, Ms. Huth said. Inflation is pushing wage demands higher and the scarcity of cyber professionals—particularly within highly technical industries such as power—means security staff are in demand, Mr. Bojar said. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Cyber staffs will need to vet third-party services while installing safeguards against new avenues hackers could exploit, Kohler’s Ms. Huth said. Retail giant Amazon.com Inc. hopes to grow its security team, said Chief Security Officer Stephen Schmidt, despite a company-wide hiring freeze and layoffs for up to 10,000 workers elsewhere in the company.

☆ England vs. Senegal: Euro 2020 finalist faces African champion for place in World Cup quarterfinals
▼ + stars: | 2022-12-03 | by ( Ben Morse | ) edition.cnn.com time to read: +5 min

CNN —Sunday’s round of 16 fixtures feature the 2018 World Cup winner, the current African champion and one of the Euro 2020 finalists. Euro 2020 finalist England comes in as heavy favorites having reached the World Cup semifinals in 2018. England has faced African opposition 20 times, including seven World Cup matches, and has yet to lose. Although African nations have lost eight of their nine World Cup knockout round games against European sides, the lone exception was one which featured Senegal’s current manager, Aliou Cisse. “They’ve had to defend a lot in the group stage and they defended very well.

☆ Poland's Allegro posts higher profit on return to growth at home
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Q3 core profit beats expectationsPolish core profit returns to growthMakes progress with Mall turnaroundFocuses on cost managementNov 30 (Reuters) - Poland's biggest e-commerce platform Allegro (ALEP.WA) reported a rise in third-quarter core profit on Wednesday, driven by recovery in its home market and smaller losses at Mall, the Czech online retailer it acquired earlier this year. In the company's home market, better delivery cost management and an increase in high-margin ad revenue powered a recovery in core profit. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 13.9% to 537.3 million zlotys ($119.16 million), beating expectations of 496 million zlotys in a company-compiled consensus. Through this 'fit to grow project' we are looking for ways to make sure we balance the margins with the growth," Eastick said, but declined to give a specific guidance. Allegro said it was making progress with turnaround at Mall business, with core profit loss slowing down to 50 million zlotys compared with 62 million in the second quarter.

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