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☆ Don't ignore threats like inflation, recession, and war, warn Wall Street's biggest bosses
▼ + stars: | 2024-04-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

If the 10-year bond rate goes up 2%, every asset on the planet, including real estate, is worth 20% less. Advertisement"If things stay where they are, we have the soft landing that seems to be embedded in the marketplace, the real estate will muddle through. They won't muddle through under higher rates with a recession. That would be tough for a lot of folks, not just real estate, if that happens." Jeenah Moon / Reuters"We're in a period that comes after financial repression, where we'll have some inflation and some real rates.

Persons: —, Wall, shouldn't, Jamie Dimon, I'm, David Solomon, Goldman Sachs, Jane Fraser, Julian Restrepo, Larry Fink, Stephen Schwarzman, Ted Pick, Morgan Stanley, Jeenah, Michael Santomassimo, Wells, Alistair Borthwick, that's Organizations: Service, Wall Street's, Business, titans, JPMorgan, Citigroup, AP, BlackRock, Blackstone, Bank of America Locations: East, Ukraine

(AP) — A federal appeals court has ordered the appointment of an independent examiner in the bankruptcy case of FTX amid concerns about widespread fraud preceding the collapse of the multibillion-dollar cryptocurrency exchange. A three-judge panel in Philadelphia issued the ruling Friday in an appeal filed by the U.S. bankruptcy trustee, who serves as a government watchdog in Chapter 11 reorganizations. U.S. Bankruptcy Judge John Dorsey denied the trustee’s request last February. The appeals court reversed Dorsey’s ruling, agreeing with the trustee that the bankruptcy code mandates the appointment of an examiner. “Such is the case here.”Restrepo also noted that an examiner is required to make his or her findings public, whereas a debtor or creditors committee conducting an internal investigation has no such obligation.

Persons: John Dorsey, Dorsey, John Ray III, FTX, Sam Bankman, Fried, Prosecutors, ”, Luis Felipe Restrepo, ” Restrepo Organizations: —, U.S, FTX, Alameda Research Locations: Del, Philadelphia, FTX

ARCADIA, Calif. (AP) — After horse deaths marred this year’s Kentucky Derby and Preakness, and another occurred days ahead of the world championships, safety at the Breeders’ Cup is under intense scrutiny. “We know equine fatalities is a complicated issue and that’s why we’re continuing to invest in resources,” Drew Fleming, president and CEO of Breeders' Cup Ltd., said Wednesday. Breeders’ Cup officials said his death was due to “a cardiac event.” A required necropsy will determine the official cause. With history in mind, 1/ST Racing is conducting periodic inspections and testing of all racing surfaces before the Breeders’ Cup. Dutrow saddles White Abarrio in the Classic, his first Breeders' Cup runner since he returned earlier this year from a 10-year ban for medication violations.

Persons: ” Drew Fleming, Arcangelo, Jena Antonucci, ”, isn’t, Mage didn’t, Ramiro Restrepo, “, Groom, Dionne Benson, “ We’ve, Lisa Lazarus, “ That's, Bob Baffert, Donald Trump, HISA, Antonucci, Rick Dutrow, he's, Derby, Baffert hasn't, Medina Spirit's, Baffert, ” Baffert Organizations: Kentucky Derby, Preakness, Breeders, Santa, Federal Trade Commission, Breeders ’, Belmont, Santa Anita, Triple Crown, Anita, Churchill Downs Inc, Breeders ', Associated Press Locations: ARCADIA, Calif, Kentucky, Santa Anita, California, Santa, Churchill, Belmont, U.S, HISA, Del Mar

BOGOTA, Colombia (AP) — Escalating tensions between Colombia and Israel over the Gaza war could undo decades of close military ties between them and hamper Colombia’s ability to fight drug traffickers and rebels, security analysts say. Israel has been one of Colombia’s main suppliers of war planes, surveillance equipment and assault rifles since the 1990s. “It will be debilitating and extremely costly,” said Jorge Restrepo, the director of CERAC, a security think tank in Bogota. “Colombia continues to face a plethora of internal security challenges, and they need a strong military with various capabilities” Sánchez said. “If we must suspend relations with Israel, then that is what we will do,” Petro wrote on the social media platform X.

Persons: Gustavo Petro, ”, Jorge Restrepo, Erich Saumeth Cadavid, Cadavid, Wilder Alejandro Sánchez, ” Sánchez, Sánchez, ” Petro, Petro’s, Diego Molano, “ Petro, Sergio Guzmán, Petro Organizations: Analysts, Colombia’s Defense Ministry, IAI, Boeing, Revolutionary Armed Forces, EMC Locations: BOGOTA, Colombia, Israel, Gaza, Nazi Germany, Bogota, “, Colombian, France, Sweden, United States, Gulf, Washington, Palestine, America, Caribbean

☆ Insider Today: Big banks' cloudy forecast
▼ + stars: | 2023-10-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at why strong earnings results from some big banks weren't necessarily the big win markets were hoping for. The big storyTrouble brewingAdvertisementAdvertisementOn the surface, earnings season got off to a great start. And that could spell trouble for the broader market hoping for a banner earnings season to help it finish the year on a positive. AdvertisementAdvertisement"This may be the most dangerous time the world has seen in decades," he said in a press release announcing the bank's earnings. One market veteran predicts stocks will rally for the final stretch of the year due to a strong earnings season.

Persons: Elon Musk, Steve Jobs, Wells, Jamie Dimon, Dimon, Julian Restrepo, Emmalyse Brownstein, Mark Mason, JPMorgan's, Teresa Heitsenrether, Goldman Sachs, Jane Fraser, Fraser, Michael Siluk, there's, Walter Isaacson, Justin Sullivan, Tim Mosenfelder, Elon, Tyler Le, Noah Webster, He's, Naomi Osaka, Angela Lansbury, Sue Bird, Oscar Wilde, Bryce Harper, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, JPMorgan, Citigroup, AP, Citi, Barclays, Suisse, New York Department of Labor, Getty, Wedbush Securities, Microsoft Outlook, Microsoft, Consumers, PETA, Dairy Summit Locations: Ukraine, Israel, Chicago, New York City, San Diego, London, New York

It took a disastrous loss instead, as Georgia Tech turned a huge mistake by the Hurricanes into a last-second miracle. Instead, Don Chaney fumbled the ball away — Miami argued he was down, referees disagreed — and the Yellow Jackets pulled off a stunner. The scoreboard showed Georgia Tech had no time-outs remaining; the play-by-play of the game suggested the Yellow Jackets still may have had one. Miami outgained Georgia Tech 454-250, had 23 first downs to the Yellow Jackets’ 12, and none of it mattered. Georgia Tech went up 17-10 early in the fourth on a field goal soon after Van Dyke's third interception.

Persons: Haynes King, Christian Leary, Don Chaney, Miami, —, “, Mario Cristobal, Brent Key, Malik Rutherford, Rutherford, King, Doug Flutie, Leary, ” King, Tyler Van Dyke, Xavier Restrepo, Henry Parrish . King, Jamal Haynes, Georgia Tech’s, Kevin Sherrer, Van Dyke, Shannon Dawson didn't, ” Restrepo, Miami's Andy Borregales, Van Dyke's, Borregales, ‘, Cristobal, Jessie Armstead —, Bowler, NFL —, Joe Schoen Organizations: Georgia Tech, Hurricanes, Miami, Yellow Jackets, Said Georgia Tech, Atlantic Coast Conference, Bowling Green, Miami outgained Georgia Tech, Jackets, school’s, of Fame, NFL, New York Giants, Giants, Miami Dolphins, Sunday, NEXT Georgia, Boston College, AP Locations: MIAMI, Fla, Miami, Georgia, North Carolina

☆ AI-Driven Cataclysm Could Rock the Job Market: Top Economist
▼ + stars: | 2023-09-18 | by ( Aki Ito | ) www.businessinsider.com time to read: +33 min

Over the course of three conversations this summer, Acemoglu told me he's worried we're currently hurtling down a road that will end in catastrophe. "There's a fair likelihood that if we don't do a course correction, we're going to have a truly two-tier system," Acemoglu told me. "I was following the canon of economic models, and in all of these models, technological change is the main mover of GDP per capita and wages," Acemoglu told me. In later empirical work, Acemoglu and Restrepo showed that that was exactly what had happened. "I realize this is a very, very tall order," Acemoglu told me.

Persons: who's, Katya Klinova, Daron Acemoglu, Simon Johnson, Acemoglu, Johnson, we've, he's, we're, Power, James Robinson, —, Robinson, David Autor, Pascual Restrepo, Restrepo, John Maynard Keynes, Simon Simard, Lord Byron, Eric Van Den Brulle, hasn't, it's, Gita Gopinath, Paul Romer, Romer, What's, Daron, GPT, Asu Ozdaglar, It's, Mark Madeo, Tattong, Erik Brynjolfsson, Brynjolfsson, There's, Yoshua Bengio, Yuval Noah Harari, Andrew Yang, Elon Musk, I've, That's, Aki Ito Organizations: Getty, MIT, of Technology, Hulton, London School of Economics, Stagecoach, Technology, —, International Monetary Fund, Microsoft, Asu, Companies, Computer, Greenpeace, Communications, Big Tech, Workers Locations: Silicon Valley, America, Boston, Istanbul, Turkey, Acemoglu, England, United States, Britain, Australia

☆ Coe re-elected President of World Athletics for third time
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Athletics - Press conference for World Athletics Council election - Hungexpo Congress Centre, Budapest, Hungary - August 17, 2023 Sebastian Coe during a press conference after his re-election as World Athletics president REUTERS/Bernadett Szabo Acquire Licensing RightsAug 17 (Reuters) - Sebastian Coe was re-elected president of World Athletics for a third term, the governing body said in a statement after its 54th Congress in Budapest on Thursday. Raul Chapado, Adille Sumariwalla and Jackson Tuwei were elected vice-presidents, alongside Colombia's Ximena Restrepo, who was re-elected. The global body added that it had met its minimum gender target set out in 2016 of having 13 members of each gender elected to the World Athletics Council four years early. "But the job is not done yet and we need to keep pushing for gender parity throughout our representative bodies." World Athletics has until its 2027 Congress to meet the remaining requirement from its 2016 reform plan of having two vice presidents of each gender.

Persons: Sebastian Coe, Bernadett Szabo, Raul Chapado, Adille Sumariwalla, Jackson Tuwei, Colombia's Ximena Restrepo, Coe, Simon Jennings, Christina Fincher Organizations: Press, World Athletics, Athletics, REUTERS, World Athletics Council, Thomson Locations: Budapest, Hungary, Bengaluru

☆ Magnificent Morocco stage 1-0 Colombia coup to score unlikely knockout berth
▼ + stars: | 2023-08-03 | by ( Joel Dubber | ) www.reuters.com time to read: +2 min

I would even say that it is the prize for the talent of this team," winning coach Reynald Pedros told reporters. Colombia topped the group with six points, bettering runners-up Morocco on goal difference, while Germany and South Korea depart the tournament. Morocco, who were thumped 6-0 by Germany in their opener before beating South Korea 1-0, move on to meet France in Adelaide and Colombia play Jamaica in Melbourne on Tuesday. A frenzied finish saw end-to-end action, but the Arab nation held on to continue their fairytale start to their first World Cup campaign. Reporting by Joel Dubber in Perth; Editing by Nick Mulvenney and Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Colombia's Marcela Restrepo, Luisa Gonzalez PERTH, Anissa Lahmari's, Reynald Pedros, Colombia's Daniela Arias clumsily, Catalina Perez, Lahmari, Daniela Montoya, Lorena Bedoya Durango, Khadija Er, Rmichi, Linda Caicedo's, We've, Nelson Abadia, Joel Dubber, Nick Mulvenney, Pritha Organizations: Soccer Football, FIFA, Debutants, Anissa, South Korea, Germany, Moroccan, France, Thomson Locations: New Zealand, Morocco, Colombia, Perth, Australia, Debutants Morocco, Brisbane, Lang, Germany, South Korea, Adelaide, Jamaica, Melbourne

☆ Newly Published, From a Bayou Thriller to Drugs in America
▼ + stars: | 2023-07-19 | by ( ) www.nytimes.com time to read: +1 min

A young Colombian American grapples with injury, a fractured family and his personal identity in this transnational coming-of-age journey. QUICK FIXES: Drugs in America From Prohibition to the 21st Century Binge, by Benjamin Y. Fong. In this account, Fong examines America’s historical relationship to nine different drugs, highlighting the tension between an embrace of pharmaceuticals and the belligerence of the “war” on drugs. FRAGMENTED: A Doctor’s Quest to Piece Together American Health Care, by Ilana Yurkiewicz. Discontinuities caused by insurance companies, reliance on software and contemporary medical culture are the U.S. health care system’s “greatest problem,” writes Yurkiewicz.

Persons: Shumona Sinha, Teresa Lavender Fagan, GREGORIO PASOS, Rodrigo Restrepo Montoya, Benjamin Y, Fong, Ilana Yurkiewicz, ” Organizations: Health Locations: Paris, Colombian American, America, U.S

☆ What to Watch for in the 2023 Preakness Stakes
▼ + stars: | 2023-05-20 | by ( Joe Drape | Melissa Hoppert | ) www.nytimes.com time to read: +1 min

Another challenge for the Delgados when they came to the United States was finding good horses and owners who believed in them. They liked that the horse was a near replica of his sire, Good Magic, who finished second in the Derby and fourth in the Preakness. And so that melting pot of a group rode Mage straight into the winner’s circle on the first Saturday in May, leading to perhaps the biggest winner’s circle party in Derby history — even Mage looked small in the middle of it. About 70 of the 382 people who invested in Mage through Commonwealth were there. When her wheelchair got stuck on the track, Gerardo Corrales and Jose Ortiz, who had just rode in the Derby, carried her the rest of the way.

CNN —One of the horses scheduled to run before today’s Preakness Stakes, the Bob Baffert-trained Havnameltdown, has been euthanized, after suffering a serious injury in an undercard race this afternoon, officials said. How to watchThe Preakness Stakes will take place on Saturday at the Pimlico Race Course in Baltimore, Maryland. Julio Cortez/APThe controversy started after Medina Spirit, who died in December 2021, won the Kentucky Derby two years ago. After the race, Baffert revealed that the horse had tested positive for elevated levels of betamethasone. In February 2022, the Kentucky Horse Racing Commission announced its decision to disqualify Medina Spirit.

☆ BofA Promoted 93 New MDs in Global Markets — Here Are the Names
▼ + stars: | 2023-01-26 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Bank of America announced 93 new managing directors in Global Markets on Thursday. The division in 2022 saw sales and trading revenues climb to its highest mark since 2010.Insider has all the names of the newly promoted MDs. On Thursday the bank announced a new class of 360 managing directors, including 93 from the firm's Global Markets division — up from 86 last year. The bank's Global Corporate and Investment Bank promoted 87 new MDs. BofA made $16.5 billion in 2022 from sales and trading — including a fourth-quarter record of $3.7 billion — the highest tally for the firm since 2010.

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