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☆ ‘I will return to the US in an urn’: She moved to Portugal with her husband two years ago, and this American woman says she’s never coming back
▼ + stars: | 2024-05-08 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +12 min

‘Aha’ momentCynthia Wilson and her husband Craig Bjork relocated from the US to Marinha Grande, situated in the Leiria District of Portugal, just over two years ago. Community spiritThe couple celebrate Wilson's first birthday in Portugal with friends. “My Portuguese friends taught me that you have to first recognize their humanity,” says Wilson. There’s no place for that.”Wilson has warmly embraced the Portuguese way of life, particularly the focus on food, which has long been a big part of her life. Doing something odd.”Wilson and Bjork say that they’ve had “zero problems” since relocating to Portugal and couldn’t be happier.

Persons: CNN — They’d, Cynthia Wilson, Craig Bjork, Wilson, –, I’ve, ” Wilson, ”, Bjork, “, it’s, Wilson's, ’, Cynthia Wilson “ Retirement’s, that’s, I’m, hasn’t, ” “, ‘, they’ve, Dulce Silva, Sérgio Carvalho, grandly, Rainha Joia, Maria da Silva, Cynthia Wilson Wilson, “ There’s, couldn’t Organizations: CNN, CNN Travel, Facebook Locations: Portugal, Europe, Seattle, Estonia, Marinha, Leiria District, Lisbon, Kansas, Wichita , Kansas, Marinha Grande, Porto, Algarve, San Francisco, Manhattan, Florabela, America, “

☆ Here’s what North American airline passengers think about the state of air travel
▼ + stars: | 2024-05-08 | by ( Francesca Street | ) edition.cnn.com time to read: +5 min

Power’s 2024 North American Airline Satisfaction Study. Power hasn’t revealed an overall North American airline passenger satisfaction score, with Mike Taylor, travel intelligence lead at J.D. Power’s top North American airlines for economy passengers1. Power’s top North American airlines for premium economy passengers1. Power’s top North American airlines for first/business passengers1.

Persons: –, Power hasn’t, Mike Taylor, That’s, Tony Gutierrez, ”, Taylor, “, ” Taylor Organizations: CNN, North, Southwest Airlines, Southwest, Delta Air Lines, Delta, JetBlue, AP, ” Airlines, Allegiant, Alaska Airlines, JetBlue Airways, American Airlines, United Airlines, Air Canada, Spirit Airlines, Frontier Airlines, Delta Air, . Alaska Airlines, Air Locations: ., J.D, Power, Delta, North America

☆ Less booze, more healthcare: How the spending habits of today's millennials compare to boomers 30 years ago
▼ + stars: | 2024-05-08 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

In the intervening 33 years, how young adults spent their money changed dramatically. Millennials are spending a lot more on healthcare and rented housingHealth insurance spending stands out between the average young adult in 1989 versus in 2022. Based on average data, young adults were spending roughly 60% more on apartments and other rented housing. Before adjusting 1989 data for inflation, young adults in 2022 spent 304% more on fresh fruits than young adults in 1989. Based on our analysis, the average young adult in 2022 was spending more on nonalcoholic beverages and less on alcoholic beverages than the average young adult in 1989.

Persons: —, Harry Met Sally, millennials, Gen Zers, Grace Hill, Gen Organizations: Service, Nintendo Game, Business, Bureau of Labor Statistics, Labor, BLS, Pew Research Center, CPI, Gallup Locations: Millennials

CNN —The world has passed a clean energy milestone, as a boom in wind and solar meant a record-breaking 30% of the world’s electricity was produced by renewables last year, new data shows. The planet is reaching “a crucial turning point” toward clean energy, according to the Global Electricity Review published Wednesday by climate think tank Ember. Record-breaking renewablesIn 2000, renewables made up less than 19% of the global energy mix. It made up nearly twice as much new electricity generation as coal last year. Electricity demand is set to soar from 2024 onward, Ember’s analysis found.

Persons: It’s, Dave Jones, Ember, ” Jones, “ We’re, Jones, “, ”, Niklas Höhne, Nancy Haegel Organizations: CNN, Global, NewClimate Institute, European Union, EU, National Renewable Energy Laboratory Locations: China, India, Chile, Australia, Netherlands, California, United States

☆ A Gen Xer struggles to afford housing and groceries, but her income is about $100 too high to get help
▼ + stars: | 2024-05-08 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

The couple is part of a growing number of Americans who live above the federal poverty line but struggle to afford basic necessities. The poverty line isn't adjusted to reflect cost-of-living differences in individual cities or states and is set at $20,440 a year for a family of two. Binkley is trying to "make ends meet," hopes to leave Minnesota one dayPrimarily, Binkley said she struggles with her rent and utility bills. AdvertisementFor food, Binkley said she is especially thankful for her local food pantries, where she often goes to pick up canned goods. "That is one thing that keeps driving me to make my payments, get things caught up, and set a little bit aside each week or each month, Binkley said.

Persons: —, Melinda Binkley, she's, Binkley, doesn't, ALICE, She's Organizations: Service, Business, Survey, United Way's, Medicare Locations: Stillwater , Minnesota, Minnesota, Idaho

☆ ‘Ozempic babies’: What the science says on whether GLP-1s lead to surprise pregnancies, and their safety if they do
▼ + stars: | 2024-05-08 | by ( Mira Cheng | Meg Tirrell | ) edition.cnn.com time to read: +12 min

“I was depressed, severely depressed for that whole time.”Five months earlier, in October 2022, Bentley had started taking Mounjaro for weight loss. Ozempic uses the active ingredient semaglutide, and Wegovy is the version approved for weight loss. Mounjaro uses tirzepatide, which also targets a second hormone called GIP, and Zepbound is its brand name for weight loss. Safety in pregnancyEven as GLP-1 medicines may increase fertility, little is known about their safety during pregnancy. “It’s kind of like heart failure or sleep apnea,” he said, referring to conditions for which GLP-1 drugs have recently shown positive results.

Persons: CNN — Catera Bentley, Bentley, ”, “, ” Bentley, she’d, —, ‘, ’ Bentley, Jody Dushay, Dushay, Catera Bentley, Ivy, Daniel Drucker, ” Drucker, they’re, Drucker, Eli Lilly, ” Dushay, haven’t, That’s, Anuja Dokras, Dokras, Melanie Cree, Cree, PCOS, aren’t, Eli Lilly’s, Daniel Skovronsky, ” Skovronsky, Dr, Sanjay Gupta, it’s, Mounjaro Organizations: CNN, Beth Israel Deaconess Medical Center, Harvard Medical School, University of, Mount Sinai, Novo Nordisk, Zepbound, US Centers for Disease Control, University of Pennsylvania, PCOS, Children’s Hospital, National Institutes of Health, CNN Health Locations: Steele , Alabama, Mount, United States, Children’s Hospital Colorado, —, Colorado

There were rolling blackouts in multiple cities across Mexico on Tuesday, as people in several states reeled from soaring temperatures and the national energy authority briefly declared a state of emergency. A heat wave has scorched Mexico in recent days, bringing temperatures in multiple states into the triple digits. Mexico City on Tuesday reached a high of 92 degrees Fahrenheit, the hottest temperature recorded there on May 7 in over 20 years. Mexico’s energy authority, Cenace, announced a state of emergency for the national grid early Tuesday evening, meaning that available power had dropped below adequate levels. But local news media outlets reported on blackouts in municipalities across the country throughout the evening.

Locations: Mexico, Mexico City

☆ A gut health dietitian shares her 4 favorite fiber-filled, minimally processed Costco snacks
▼ + stars: | 2024-05-08 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

When dietitian Megan Hilbert buys snacks she looks for minimally processed whole foods. AdvertisementA gut health dietitian shared the four healthy snacks she buys on repeat from Costco. Studies have found that a more diverse microbiome is a healthier one, and this is important because research increasingly shows that gut health is linked to overall health. 'That's It' dried fruit barHilbert and her partner are big fans of Costco's "That's It" fruit bars. AdvertisementAs the name suggests, they contain only dried fruit with no added sugar or other ingredients.

Persons: Megan, Hilbert, —, Megan Hilbert, hasn't Organizations: Costco, Service, Northeastern University's Network Science Institute, Cleveland Clinic, Kirkland Locations: UPFs

☆ I worked at SpaceX. It was the most ruthlessly efficient company I've ever worked for.
▼ + stars: | 2024-05-08 | by ( Jamie Killin | ) www.businessinsider.com time to read: +7 min

This is an as-told-to essay based on a transcribed conversation with Vincent Peters, founder of Inheritance AI and former SpaceX employee discussing his career path and experience at SpaceX. I was introduced to people on the SpaceX Mission team, and ultimately, they asked me to interview with them for a job at SpaceX. What it's like working at SpaceXSpaceX is the most efficient company I've ever worked for. AdvertisementThat mentality is how I started working on Starlink. In 2020, I asked to help and was allowed to work on their projects in addition to my work at SpaceX.

Persons: Vincent Peters, couldn't, Freddie Mac, I'd, Gwynne Shotwell, I've, it's, It's, We're Organizations: Service, SpaceX, Business, Federal Aviation Administration, US Government, SpaceX Mission, International, NASA, Department of Defense, SpaceX SpaceX, Elon Locations: West, cubicles, Elon

The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept intervention risks from Tokyo high. Analysts have said that any intervention from Tokyo would only serve as a temporary respite for the yen, given stark interest rate differentials between the U.S. and Japan remain. Analysts expect the central bank to leave the door open to lower interest rates as early as June. The Australian dollar fell 0.2% to $0.6585, pressured in part by a less hawkish outlook from the Reserve Bank of Australia than anticipated after it held interest rates steady on Tuesday.

Persons: Kazuo Ueda, Shunichi Suzuki, they'll, Carol Kong, Neel Kashkari, Kashkari, Rodrigo Catril Organizations: Federal, U.S, Bank of Japan, country's Finance, Commonwealth Bank of Australia, New Zealand, greenback, Minneapolis, Minneapolis Fed, National Australia Bank, Bank of, Reserve Bank of Australia Locations: Tokyo, Beijing, Japan, Bank, U.S, Minneapolis

☆ Panera to discontinue its controversial 'charged' drinks that lawsuits linked to deaths
▼ + stars: | 2024-05-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

The drinks were tied to at least two wrongful death lawsuits against Panera. AdvertisementPanera Bread is discontinuing its controversial, highly caffeinated Charged Sips range that was linked to at least two wrongful death lawsuits in the US. Panera currently sells two flavors of Charged Lemonade — strawberry lemon mint and mango yuzu citrus — and a blood orange "charged" splash. Two of these were wrongful death lawsuits. The company previously told BI that it thought the wrongful death lawsuits were "without merit" and that it stood by the safety of its products.

Persons: —, Panera, they're Organizations: Panera, Service, Bloomberg, CNBC, Food and Drug Administration

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ A Cicada’s Guide to Periodical Romance
▼ + stars: | 2024-05-08 | by ( Alan Burdick | ) www.nytimes.com time to read: 1 min

But to the individual cicada, what’s underway is a courtship ritual as intimate and intricate as a tango. The stakes are high; the potential missteps are many. Review the guest listThis year, in a rare “dual emergence,” two groups of periodical cicadas are in attendance: Brood XIII, or the Northern Illinois Brood, comprising as many as three species of 17-year cicada in some locations, and Brood XIX, the Great Southern Brood, comprising up to four species of 13-year cicada. Their songs — like those of Magicicada septendecim and Magicicada neotredecim, below — can sound deceptively similar:

Persons: Magicicada Organizations: Northern Illinois Brood, Southern

☆ I worked at SpaceX where Elon Musk was a cubicle away. At Elon's companies, it's add value or leave.
▼ + stars: | 2024-05-08 | by ( Jamie Killin | ) www.businessinsider.com time to read: +8 min

Vincent Peters worked in military compliance when he was poached to work at SpaceX. So I graduated on medical leave, couldn't be deployed, and continued on medical leave for another six months before being discharged. I was introduced to people on the SpaceX Mission team, and ultimately, they asked me to interview with them for a job at SpaceX. AdvertisementThat mentality is how I started working on Starlink. In 2020, I asked to help and was allowed to work on their projects in addition to my work at SpaceX.

Persons: Vincent Peters, —, couldn't, Freddie Mac, I'd, Gwynne Shotwell, I've, it's, It's, We're Organizations: SpaceX, Service, Federal Aviation Administration, US Government, SpaceX Mission, International, NASA, Department of Defense, SpaceX SpaceX, Elon Locations: West, cubicles, Elon

☆ For Bulgarian Voters, It’s Groundhog Day, Again
▼ + stars: | 2024-05-08 | by ( Andrew Higgins | ) www.nytimes.com time to read: +1 min

For citizens of the United States, Britain, India and dozens of other countries around the world, 2024 is a big, high-stakes election year. For Dimitar Naydenov, a Bulgarian member of Parliament and restaurant owner, it offers only yet another Groundhog Day: Bulgaria in June holds its sixth general election in three years with a vote for a new Parliament. The total number of elections in those years is even higher — eight — if those for president and European Parliament are included. “I’ve done this so many times people have started to feel pity for me,” he said. But pity Bulgarian voters, too.

Persons: Dimitar Naydenov, “, Mr, Naydenov, shuddering, ” Locations: United States, Britain, India, Bulgarian, Bulgaria, Burgas

☆ I quit my finance job and became an Airbnb host in Italy. I have no regrets about choosing happiness over money.
▼ + stars: | 2024-05-08 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Anton Govor left his corporate finance career to become an Airbnb host on Lake Garda in Italy. I visited Lake Garda for the first time when I was 21The main guesthouse at GardaDoma. Courtesy of GardaDomaDuring a drive from Munich to Florence, I stopped in Lake Garda completely by chance. AdvertisementI chose to leave my finance career behindIn December 2018, my second son was born at Lake Garda, and I took parental leave at our house. I devote 1 to 4 p.m. to property maintenance and planning the dinner menu with our work family, who take shifts in cooking.

Persons: Anton Govor, Govor, he's, —, It's, Ernst & Young, Brenzone, Airbnb Organizations: Garda, Service, Ernst &, MOEX Group, Lake Garda Locations: Italy, Brenzone sul Garda, Moscow, Lake, Munich, Florence, Europe, Russia, Easter

☆ Bankruptcies are spiking as companies lose hope of rate cuts
▼ + stars: | 2024-05-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

April saw the highest number of corporate bankruptcies in a year, S&P Global said. Eroding bets of an interest rate cut contribute to this, as burdened business throw in the towel. AdvertisementCorporate bankruptcies increased in recent months amid teetering confidence in a quick interest rate pivot. AdvertisementBy one measure, rising costs did slow when a rate cut looked likely in early 2024. But last month's stubborn inflation and slowing GDP made a Fed cut look unlikely, and yields shot up to 8.11%.

Persons: —, April's, Frances Donald Organizations: P Global, Service, Federal, ICE, Fed, Investment

☆ FTX Customers Poised to Recover All Funds Lost in Collapse
▼ + stars: | 2024-05-08 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Customers of the failed cryptocurrency exchange FTX are poised to recover all of the money they lost when the firm collapsed in 2022 and receive interest on top of it, the company’s bankruptcy lawyers said on Tuesday. The announcement was a landmark in the attempt to recover the $8 billion in customer assets that disappeared when FTX imploded virtually overnight, setting off a crisis in the crypto industry. Those payments would flow from a pool of assets that FTX’s lawyers have pulled together in the 17 months since the exchange collapsed, the lawyers said. The amount owed to customers was calculated based on the value of their holdings at the time of FTX’s bankruptcy in November 2022. A customer who lost one Bitcoin when FTX imploded, for example, would be entitled to less than $20,000, even though a Bitcoin is now worth more than $60,000.

Persons: FTX Locations: Delaware

☆ A bearish options trade on a one-time tech darling that could struggle in the new AI world
▼ + stars: | 2024-05-08 | by ( Tony Zhang | ) www.cnbc.com time to read: +2 min

I think shares of the one-time cloud computing darling are at risk of falling even lower and I will give a bearish options trade to capitalize on it. As CRM matures and growth rates moderate, it simply cannot continue to command the industry-leading valuations it once did and has to face the reality of its fundamentals. This suggests that CRM will likely continue to trade back towards the midpoint of the range in the $210-220 area. This makes a valuation that is 40% higher than the S & P 500 harder to justify when growth rates are slowing down significantly. The trade With earnings in three weeks, CRM options prices are slightly elevated and warrant using a spread to lower the cost of seeking bearish exposure.

Locations: Salesforce

☆ Nearly 50% of people are considering leaving their jobs in 2024—more than during the 'great resignation'
▼ + stars: | 2024-05-08 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

In 2022, at the height of the "great resignation," a record 4.5 million workers each month — about 3% of the U.S. workforce — were quitting their jobs. While some economists have said this pandemic-era trend is over, new research from Microsoft and LinkedIn forecasts that even more people plan to leave their jobs in 2024. And Americans' confidence in their job-hunting prospects has reached its highest point in two years, a February 2024 ZipRecruiter survey of more than 2,000 jobseekers shows. Despite high-profile job cuts at a few large companies, layoff rates, much like unemployment, are lower than before the Covid-19 pandemic. Americans are more confident about their career prospects — but dissatisfaction with continuing high inflation and their current roles could equally be driving them to seek new opportunities.

Persons: Julia Pollak, — Organizations: Microsoft, LinkedIn, CNBC Locations: U.S

☆ Shopify shares plunge 18% on weak guidance
▼ + stars: | 2024-05-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

The corporate logo of e-commerce company Shopify hangs at the building that contains the offices of Shopify Commerce Germany GmbH on August 08, 2022 in Berlin, Germany. Shopify reported first-quarter earnings and sales on Wednesday that were ahead of Wall Street expectations, but it gave a downbeat forecast for the current quarter. Shopify said it expects second-quarter revenue to grow at a high-teens percentage rate year-over-year, a slowdown from the previous period. The company has posted year-over-year revenue growth in the low-to-mid twenties for the past six quarters. Second-quarter revenue would grow in the "low-to-mid-twenties" year-over-year when adjusting for the divestiture of the logistics business, Shopify said.

Persons: Shopify Organizations: Shopify Commerce, Shopify Commerce Germany GmbH Locations: Shopify Commerce Germany, Berlin, Germany

☆ HD Hyundai Marine Solution doubles in South Korea's largest IPO since January 2022
▼ + stars: | 2024-05-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Employees of HD Hyundai Marine Solution Co., during the company's listing ceremony at the Korea Exchange in Seoul, South Korea, on Wednesday, May 8, 2024. Shares of maintenance and repair firm HD Hyundai Marine Solution spiked nearly 50% in their trading debut Wednesday, marking a strong start to South Korea's largest IPO since January 2022. Shares traded as high as 166,100 South Korean won ($121.59) apiece, representing a 99.1% surge from the IPO price of 83,400 won. The ship-repair unit of South Korea's largest shipping conglomerate HD Hyundai Group sold 8.9 million shares in the initial public offering. The IPO totaled 742.26 billion won, valuing the newly public unit around 3.71 trillion won at the offering price.

Organizations: Korea Exchange, Hyundai, South Korean, Street, KKR Locations: Korea, Seoul, South Korea, South

☆ FTX says most customers of the bankrupt crypto exchange will get all their money back
▼ + stars: | 2024-05-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. Almost all customers of collapsed cryptocurrency exchange FTX will get their money back — and more, according to a court filing. FTX's high-profile founder Sam Bankman-Fried was convicted of seven criminal counts in early November, including charges related to stealing billions of dollars from FTX's customers. FTX had to find other ways to raise money because it has large sum of cryptocurrency missing from the exchange. Instead, the Debtors have had to look to other sources of recoverable value to repay creditors," FTX said in a press release on Wednesday.

Persons: Sam Bankman, FTX, Fried, Bitcoin, John Ray III, Ray, — CNBC's MacKenzie Sigalos Organizations: Amazon, FTX Locations: New York, Alameda, Bankman, Anthropic

☆ What Wall Street finance bros should wear this summer
▼ + stars: | 2024-05-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

AdvertisementSo, Business Insider asked some style experts — and a finance bro — which brands and styles those on Wall Street should check out for their summer workwear. Men's fashion consultant Reginald Ferguson told BI that he wants his clients to remain "modern, yet classic" in their daily attire. Charles Tyrwhitt; Peter MillarPeter Millar and Charles Tyrwhitt were two brands suggested to BI by an early-career investment banker who asked to remain anonymous to protect his career. It's a "luxury golf brand that was smart to expand its line for its client to wear other garments while not on the course," Ferguson told BI. Kiton, another high-end brand with origins in Italy, is "the grail for the partner of the firm," Ferguson told BI.

Persons: —, Goldman Sachs, Mark Zuckerberg, Jeff Bezos —, Lauren Sanchez —, bro, Reginald Ferguson, Peter Millar, Charles Tyrwhitt, Peter Millar Peter Millar, Ferguson, nodded, Nicole Pollard Bayme, Bayme, Billionaire Bill Gates, Larry Ellison, Richard Mille Organizations: Service, bros, JPMorgan, Citigroup, Business, BI, LA, Casio, Getty, Billionaire Locations: Silicon, British, Italy

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