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☆ Sony and Apollo offer $26 billion for Paramount: report
▼ + stars: | 2024-05-02 | by ( Paul Squire | Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Sony and Apollo Global Management are reportedly bidding big for Paramount. AdvertisementSony and the private equity firm teamed up for an all-cash offer of $26 billion for Paramount Global, The Wall Street Journal reported on Thursday. Sony and Apollo's offer was nonbinding, according to the JournalApollo's bid comes after Paramount announced its CEO Bob Bakish was stepping down Monday. Apollo previously bid $11 billion for just Paramount's movie studio, the Wall Street Journal reported in March. Apollo partner Aaron Sobel co-signed the offer letter with Sony CEO Tony Vinciquerra, people familiar with the situation told the Journal.

Persons: Bob Bakish, They've, Hayley Cuccinello, Aaron Sobel, Tony Vinciquerra, Sobel, Lee Solomon, Shari Redstone hasn't Organizations: Sony, Apollo Global Management, Paramount, Paramount Global, Street, Skydance Media, RedBird Capital Partners, KKR, Apollo, Wall Street, Legendary Entertainment, Concord Music Group

☆ Meet the 37-year-old Apollo partner behind the $26 billion bid for Paramount
▼ + stars: | 2024-05-02 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +1 min

Skydance has been vying to buy Paramount. The private equity giant teamed up with Sony for a $26 billion bid. AdvertisementApollo Global Management and Sony have teamed up to buy Paramount for $26 billion, according to reports on Thursday. The all-cash offer has been submitted to Paramount's board, a person close to the negotiations confirmed to Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Skydance, Aaron Sobel, —, David Ellison, Larry Ellison Organizations: Paramount, Sony, Service, Global Management, Business, Skydance Media

☆ Why the pioneering abstract painter Janet Sobel disappeared from the art world at the height of her fame
▼ + stars: | 2024-04-01 | by ( Helen Stoilas | ) edition.cnn.com time to read: +10 min

Edward C. Robison III/Courtesy The Menil CollectionSobel’s rise in the New York art scene was speedy — and short-lived. An untitled Sobel work, featuring totemic figured rendered in crayon and gouache on drawing pad paper. There’s a lot to still learn.”An untitled Sobel work, circa 1946. Courtesy the Museum of Modern Art/The Menil CollectionAn untitled Sobel work, circa 1946-1948. James Craven/Courtesy The Menil CollectionWhat the exhibition demonstrates above all is how innovative Sobel was, in both her media and methods of application.

Persons: Jackson Pollock, Willem de Kooning, Janet Sobel, you’ve, Sobel, Edward C, Robison III, Sol Sobel, Sidney Janis, Janis, “ Janet Sobel, Clement Greenberg, Pollock, ” Greenberg, —, totemic, Paul Hester, Len Sobel —, — Sobel, Baruch, ” Len Sobel, Peggy Guggenheim, Guggenheim, Louise Bourgeois, Lee Krasner, Leonora Carrington, New Jersey —, Natalie Dupêcher, ” Dupêcher, Len Sobel, William Rubin, Rubin, Sobel —, Len Sobel’s, I’m, James Craven, …, ”, Dupêcher, “ Organizations: CNN, Brooklyn Daily Eagle, Art Students League, Arts Club of Chicago, Brooklyn Daily, New, Puma, ”, Museum of Modern Art, National Gallery of Art, Menil, Brooklyn, Pennsylvania Academy, Fine Arts, Guggenheim, EPA, of Modern Art, MoMA, San Diego Museum of Art, Crystal Bridges Museum of American Locations: New York, Paris, Brighton Beach , Brooklyn, Brooklyn, Washington ,, Houston —, Ukrainian, New Jersey, York, Manhattan, Venice, Perth Amboy, Plainfield , New Jersey, Ukraine, Bentonville , Arkansas, America

☆ How a former news producer turned her passion for art into a full-time business painting Louis Vuitton bags and other luxury items
▼ + stars: | 2024-03-30 | by ( Madison Hoff | ) www.businessinsider.com time to read: +9 min

While artists typically use a sketchpad, a canvas, or a digital tablet for their creations, Sobel is mainly painting luxury items like Louis Vuitton bags. Courtesy of Michele SobelWhile she considered painting her "lifelong passion," she had a passion for journalism too. "Michele Sobel Fine Art specializes in hand painting luxury leather goods, and it's kind of a twofold business," Sobel said. I just was kind of doing because I was following my passion, doing something that I love." AdvertisementSobel is now able to focus on her dream of hand painting work and original art.

Persons: Michele Sobel, I've, She's, Sobel, Louis Vuitton, I'm, Michele Sobel Fine, she's, Michael Kors Organizations: Service, Business, BI, Michele Sobel Fine Art Locations: Jersey

☆ Russia's economic decline is in only in the early stages, and the country is masking significant 'degradation,' think tank says
▼ + stars: | 2024-02-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's economic decline is still in the early stages, according to a London-based think tank. But talk of Russia's economic resilience is misguided, and there are deep-rooted issues that will continue to plague its economy, the think tank said. AdvertisementRussia's robust military spending has been a key factor in propping up its economic growth so far. "Significantly greater isolation and economic degradation is baked into the cake for the Russian economy and people." Russian inflation grew 7.2% year-per-year in January, well above the nation's 4% inflation target.

Persons: —, Mark Sobel, Sobel, Brent, that's Organizations: Service, Official Monetary, Financial, International Monetary Fund, Bloomberg, Yale School of Management . Companies Locations: London, Ukraine, Russia, Oilprice.com, Moscow

☆ US faces pushback on plan to bolster IMF funding without shareholding changes
▼ + stars: | 2023-10-06 | by ( David Lawder | ) www.reuters.com time to read: +5 min

[1/2] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. Doing so, Ivory Coast President Alassane Ouattara said on Thursday, would "increase the voice and agency of member countries who are the most vulnerable" at the Fund. Martin Muhleisen, a former IMF strategy chief, said the plan "puts the Chinese on the spot to agree". A delay would be a major disappointment for the IMF after contentious 2019 negotiations left quota resources and shareholding untouched. "The Fund's not tight," said Mark Plant, a former IMF official now with the Center for Global Development.

Persons: Yuri Gripas, Joe Biden, Janet Yellen, Alassane Ouattara, Mark Sobel, Martin Muhleisen, Mark Plant, David Lawder, Andrea Shalal, Marcela Ayres, Peter Graff Organizations: Monetary Fund, REUTERS, Rights, International Monetary Fund, IMF, World Bank, Reuters, U.S . Congress, U.S, Treasury, U.S . Treasury, Brazilian, Center for Global Development, Thomson Locations: Washington , U.S, U.S, China, India, Brazil, Marrakech, Morocco, Ukraine, Saharan Africa, Coast, Washington, Beijing, Brasilia

☆ Opinion: The 2,000-year-old advice for coping in 2023
▼ + stars: | 2023-09-24 | by ( Richard Galant | ) edition.cnn.com time to read: +21 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. A surprising number claimed to think about the ancient empire as often as ‘every day’ or least every week or two. It became a meme (are you even in a relationship if she hasn’t asked you about the Roman Empire? They marvel at their absolute dominion, their mastery of every strand of civilisation — and then how that power suddenly slipped away. Biden on Wednesday took steps to speed up the ability of Venezuelans in the US to obtain work permits.

Persons: CNN —, ”, Lucius Annaeus Seneca, Seneca, Caligula, Claudius, Nero, Bobby McFerrin’s musing, David M, Perry, hasn’t, Jo Ellison, —, Marcus Aurelius, that’s, David Perry, “ There’s, ” Perry, Paula M, Krebs, “, Donald Trump’s, Ron DeSantis, Trump, …, ’, ” Cupp, Roe, Wade, Cupp, he’s, Dean Obeidallah, Trump’s, Patrick T, Brown, Bill Bramhall, Content Agency Rupert Murdoch, Rupert Murdoch, Lachlan Murdoch, David Zurawik, Rupert, Murdoch, Roger Ailes, Richard Nixon, ” Murdoch “, Walt Handelsman, Kevin McCarthy, Max Burns, Donald Trump, today’s MAGA, ” Clay Jones, Chuck Schumer, Elena Sheppard, Sen, John Fetterman, baring, Fetterman, Kim Jong Un, Vladimir Putin, Kim Yo Jong, Sung, Yoon Lee, “ Kim Yo Jong, Kim, Kim Jong, ” “, Hunter Biden isn’t, Alexis Coe, George Washington’s, James Madison, Abraham Lincoln, Teddy Roosevelt, Ronald Reagan, George H.W, Bush, Hunter, … Hunter, Joe Biden, Biden, Peter Bergen, Mike Pence, … Biden, Bergen, ” Lisa Benson, Martin Sheen, Melissa Fitzgerald, Gurney, John F, Melissa, Andy, Michael Bociurkiw, ” Bociurkiw, Volodymyr Zelensky “, Zelensky, Lanhee J, Chen, ” Chen, Keir Giles, It’ll, Jennifer Wexton, Barbara Comstock, Alex Brandon, Jill Filipovic, Democrat “, ” Wexteon “, Eric Adams, Julian Zelizer . Biden, ” Don’t, David Horsey, Agency Frida Ghitis, Agatha Christie, China Adam H, Sobel, Holly Thomas, Russell Brand, Akanksha, Dan Perry, Gilead, Netanyahu government’s, Gene Seymour, Jann, Reggie B, Maren Morris, Matt Winkelmeyer, ” Maren Morris, Nicole Hemmer, Morris ’, Morris, Jason Aldean’s “, Oliver Anthony’s “ Rich, Richmond ”, “ Rich, ” Hemmer, Anthony himself, ‘, Hemmer Organizations: CNN, Financial Times, West Virginia University, Modern Language Association, WVU, West Virginia, Republican, Press, Florida Gov, White, Content Agency, Content Agency Rupert Murdoch Media, Fox News, Capitol, Agency, Democratic, fied Republican Party, Republican Party, Justice Department, Qatari, Amnesty International, Kennedy Center, UN, Assembly, CBS, Ukraine’s, Republicans, Democrat, Progressive Supra, GOP, Walton, Mobile, North, Richmond Locations: Rome, Ukraine, TikTok, Roman, Roman Republic, Washington, ”, Korean, North Korea, Iran, Qatar, Russia, Moscow, Kyiv, Dulles , Virginia, Virginia, New York City, United States, China, Las Vegas , Nevada

☆ Opinion: Why we’re seeing so many deadly floods
▼ + stars: | 2023-09-21 | by ( Jessica Chia | Opinion Adam H. Sobel | ) edition.cnn.com time to read: +6 min

Is this climate change, or just a particularly severe bunch of weather flukes happening in close succession due to the climate’s own natural variability? But climate change acts by loading the dice on many types of weather events. That shouldn’t be comforting; climate change could be playing a larger role than we expect in many of these events. Even without climate change, it would behoove us to catch up on their maintenance, or, where these dams are no longer truly needed, remove them. What we know about climate change and extreme weather should strengthen that motivation; what we don’t know should strengthen it even more.

Persons: Adam H, Sobel, Columbia University’s Lamont, Adam Sobel Danny Goldfield, Daniel, it’s, El Niño, El Niños, El Organizations: Columbia, Fu Foundation School of Engineering, Applied, Twitter, CNN, Humanitarian Affairs, El Locations: Massachusetts, Hong Kong, Greece, Spain, Libya, El, Europe

But Mintz also acknowledges that having more places to access PrEP likely will not be enough to substantially increase its use in more vulnerable communities. “There needs to be a couple of levers that need to be pulled for everybody to access PrEP who are eligible to access PrEP,” Mintz says. (Joe Raedle/Getty Images)Meanwhile, a pending ruling in a federal appellate court looms as a threat that could more broadly undermine PrEP coverage. “We don’t know what the 5th Circuit could do.”In the wake of the March court ruling, insurers expressed support for preventive services. “Right now, PrEP uptake is quite good among gay white men, but among people of color and among women PrEP access is quite limited,” Dawson says.

Persons: Apretude, ”, Omar Martinez Gonzalez, Sean Bland, we’re, ” Bland, Truvada, ” Martinez Gonzalez, Laura Mintz, Mintz, ” Mintz, Truvada –, AIDSVu, Joe Raedle, Laurie Sobel, “, ” Sobel, Lindsey Dawson, ” Dawson, Torrian Baskerville, Baskerville, ” Baskerville, who’d, Biden, Bland Organizations: U.S . Preventive Services Task Force, U.S . Food, Drug Administration, Affordable, AIDS Foundation Chicago, “, Centers for Disease Control, Santa Clara University School of Law, Georgetown University’s O’Neill Institute for National, Global Health, Blacks, PrEP, Emory University, Gilead Sciences, Black PrEP, Case Western Reserve University School of Medicine, Pride Network of, ViiV Healthcare, GlaxoSmithKline, U.S, Circuit, Appeals, Supreme, Human Rights, Navigators, Department of Health, Human Services Locations: U.S, Black, Cleveland, Gilead, –, Miami, Texas, Ohio

☆ IMF's Argentina predicament: Seek reforms and tango on or kill the music
▼ + stars: | 2023-09-15 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +7 min

But that programme failed to put South America's second-largest economy back on its feet. Even if he wins the Oct. 22 election and takes power in December, Milei would need alliances in Congress to push through reforms and a new IMF programme - Argentina's 23rd. That effort paved the way for the $57 billion programme, which ultimately failed and was replaced by the current one. Reuters Graphics Reuters GraphicsPREFERENTIAL TREATMENTThe current programme could end before its expiration in September 2024, but Argentina will still require funds. Without mentioning Argentina, the U.S. - holding the largest voting power in the Fund - recently raised its concerns.

Persons: Javier Milei, Agustin Marcarian, Mauricio Macri's, Mark Sobel, Milei, Sobel, Sergio Massa, Martin Muehleisen, Muehleisen, Nestor Kirchner, Stephen Nelson, Nelson, Walter Stoeppelwerth, Simon Quijano, Evans, Gemcorp Capital, Jay Shambaugh, Jorgelina, Karin Strohecker, Paul Simao Organizations: Argentine, La Libertad Avanza, REUTERS, IMF, International Monetary Fund, South, Peronist, Analysts, Graphics, Review Department, U.S ., Northwestern University, Reuters Graphics Reuters, Gletir SA, Gemcorp, Thomson Locations: La Plata, Buenos Aires, Argentina, Washington, U.S, Chicago, Zambia, Sri Lanka, Ghana, Egypt, Burundi, Saharan Africa, Rosario

WASHINGTON (AP) — Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries. Russia and China, meanwhile, have declared a “no limits” partnership of their own. And the economic bloc of Brazil, Russia, India, China and South Africa — known as BRICS — is trying to increase its use of local currencies instead of the U.S. dollar. Russia is hoping it can use its power over Ukraine’s Black Sea exports as a bargaining chip to reduce Western sanctions. That may be difficult as G20 nations increasingly gravitate into blocs and with some leaders, including Chinese President Xi Jinping, opting to skip the summit.

Persons: Janet Yellen, —, Joe Biden, Yellen, Vladimir Putin, Putin, Rachel Ziemba, ”, Xi Jinping, Josh Lipsky, Lipsky, Xi, Mark Sobel, ” Sobel, Ziemba Organizations: WASHINGTON, —, U.S ., West, Center, New, New American Security, Treasury Department, International Fund for Agricultural Development, GeoEconomics, Fund, Center for Strategic, International Studies, U.S, New Development Bank, Monetary Fund, World Bank, ”, European Union Locations: Russia, India, U.S, Moscow, Ukraine, United States, China, Brazil, South Africa, New Delhi, New American, Argentina, Australia, Britain, Canada, France, Germany, Indonesia, Italy, Japan, Mexico, Saudi Arabia, South Korea, Turkey

Fitch told the U.S. Treasury about its ultimate decision about 24 hours ahead of the announcement. Fitch's recent talks with the Treasury did not include the actual downgrade decision, Francis said, because it had not yet been made by the agency's ratings committee. On Monday, Fitch's credit committee met, made a decision, and Treasury officials received the Fitch press release of the downgrade. "The timing of the committee was pure coincidence," Francis told Reuters on Friday, noting the date was set weeks ago. Debt ceiling votes have been "acrimonious for decades," one U.S. official complained, referring to a long history of standoffs.

Persons: Dylan Martinez WASHINGTON, Biden, Donald Trump, Harvard's Larry Summers, Jamie Dimon, Fitch, Joe Biden, Richard Francis, Fitch's, Francis, Mark Sobel, Sobel, Alexander Hamilton, David Lawder, Davide Barbuscia, Heather Timmons, Alistair Bell Organizations: Fitch, REUTERS, White House, Reuters, U.S . Treasury, Republicans, Congress, U.S, AAA, Treasury, Social Security, Capitol, Trump, longtime Treasury, Thomson Locations: Canary Wharf, London, Britain, U.S

"China is not trying to supplant the IMF," said Matthew Mingey, a senior analyst with Rhodium Group. "When China has allowed these swap lines to be tapped, in many cases it's to unlock an IMF bailout or ensure an IMF programme stays on track." In turn, China is a major customer for Argentina's soy, corn and poultry exports. "China has every incentive to tightly manage Argentine drawings under the swap lines as the risks are very high." The swap line that the People's Bank of China (PBOC) signed in 2009 with Buenos Aires was the first agreed with a Latin American country.

Persons: Matthew Mingey, Buenos, Mark Sobel, Sobel, Sergio Massa, Martin Castellano, Alejandro Werner, Werner, Mingey, Jorgelina, Rosario, Karin Strohecker, Jorge Otaola, Joe Cash, Kirsten Donovan Organizations: International Monetary Fund, IMF, U.S . Treasury, Reuters, World Bank, TAG, People's Bank of China, Buenos Aires, Economy, Institute of International Finance, Relations, Georgetown Americas Institute, Western Hemisphere Department, Thomson Locations: China, Argentina, Beijing, Washington, Latin America, Buenos Aires, U.S, Buenos, American, United States, Zambia, Sri Lanka, Taiwan, Ukraine

☆ Tim Scott sees big money donor interest while Ron DeSantis hunts for cash
▼ + stars: | 2023-07-28 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

Nicholas Pfosi | ReutersSen. Tim Scott, R-S.C., is seeing a wave of wealthy donor interest as he runs for president, while Florida Gov. Herring has already donated $6,600 to Scott's 2024 run for president, according to Federal Election Commission filings. Nikki Haley will be in the Hamptons on Sunday for a fundraising event, according to an invitation reviewed by CNBC. Sobel, who is a managing partner at Valor Capital Group, donated $6,600 to DeSantis' campaign in late June, according to Federal Election Commission records. Andrew Romeo, a spokesman for the DeSantis campaign, pointed CNBC to their fundraising efforts in the second quarter.

Persons: Tim Scott, Saint Anselm College's, Nicholas Pfosi, Reuters Sen, Ron DeSantis, Scott, Goldman Sachs, Gary Cohn, Andy Sabin, Stanley Druckenmiller, Sabin, James Herring, Herring, Marc Rowan, Tim Scott Victory, Robert Giuffra, Cromwell, Nikki Haley, Donald Trump, DeSantis, meanwhile, Cohn, Druckenmiller, Goldman, Scott East, Still, he's, John Catsimatidis, Brandon Bell, Clifford Sobel's, Michael Pascucci, Sobel, Pascucci, Giuffra, Ronald Lauder, Paul Singer, Lauder, Singer, Andrew Romeo, –, Romeo, Glenn Youngkin, Trump Secretary of Commerce Wilbur Ross, Lisa Wagner, Wagner, she's Organizations: U.S, New Hampshire Federation of Republican Women, Saint Anselm, Saint Anselm College's New Hampshire Institute of Politics, Reuters, Florida Gov, CNBC, Hamptons, Republican, Trump National Economic Council, Trump, Billionaire, Apollo Global Management, Tim Scott Victory Fund, PAC, Southampton, Sullivan, Former South Carolina Gov, GOP, Washington Examiner, Florida Governor, Getty, Valor Capital, Commission, Business Jet, Gulfstream, Embraer, Bucknell University, Records, Politico, Virginia Gov, Hotel, Trump Secretary of Commerce, NBC News, DeSantis Locations: Saint, Manchester , New Hampshire, Florida, Long, East Hampton, North Carolina, Scott East Hampton, DeSantis, Ukraine, Scott, Rio Grande, Eagle Pass , Texas, Southampton, Charleston, Virginia, Aspen , Colorado, Colorado

“They’re going to have concerns about our investment policies toward China,” said Mark Sobel, a former longtime Treasury Department official who is now the U.S. chairman of the Official Monetary and Financial Institutions Forum. Tensions have flared over the flight of a Chinese surveillance balloon over the United States, tougher restrictions on technology from Washington, Beijing’s partnership with Moscow during the war in Ukraine and China’s continued threatening of Taiwan. But new investment restrictions from the United States could escalate the tit-for-tat measures that the two countries have been deploying just as they are trying to set a “floor” under their relationship. But the Biden administration appears to have delayed announcing them given the tumultuous relationship with China. Once the restrictions are proposed, the private sector will have time to comment on the limits, which could shape how they are put in place.

Persons: “, ”, Mark Sobel, China’s, Biden, Yellen, Antony J, Blinken, John Kerry, Biden’s Organizations: longtime Treasury Department, Monetary, Financial, Moscow, U.S Locations: China, U.S, United States, Washington, Ukraine, Taiwan, Beijing

☆ The Best Home and Kitchen Deals to Shop This Prime Day
▼ + stars: | 2023-07-11 | by ( Madeline Diamond | ) www.wsj.com time to read: +8 min

It performed the best out of all the models we tried out when searching for the best air purifier—in our test, it cleared out 98.6% of smoke in just 30 minutes. It normally has a hefty price tag, but it’s marked down by 30% for Prime Day. For Prime Day, the vacuum is 40% off (that’s $400 in savings), which is the lowest price we’ve tracked this year. It’s nearly 30% off for Prime Day, so you might even want to stock up on a few. It normally goes for $130, but during Prime Day you can score one for $47 (that’s a 65% discount).

Persons: Madeline Diamond, it’s, Burr, fryer, —, Joseph Joseph, Sobel Westex, It’s, We’re, you’ve, now’s, Bissell, We’ve Organizations: Prime, Tree Company Locations: Eufy

WASHINGTON, April 17 (Reuters) - Just a month after the biggest banking crisis in more than a decade, the world's top economic and financial policymakers gathered in Washington and said surprisingly little about financial system stability - at least publicly. Some officials conveyed a sense that banking system safety was further down the priority list of global economic problems. "But it's still something where we need to stay vigilant and address potential risks which may emerge in our financial system," Dombrovskis told reporters. He added that the European Union's banking system was stable, well capitalized with ample liquidity. But during the IMFC's closed meeting, the possible spillovers from financial stability risks were a main topic, Ukrainian Finance Minister Serhiy Marchenko told Reuters.

WASHINGTON, April 10 (Reuters) - A federal judge's decision last week to suspend the U.S. Food and Drug Administration's (FDA) approval of abortion pill mifepristone could severely weaken the agency if allowed to stand, health policy and legal experts said. The FDA approved mifepristone, part of a two-drug regimen that accounts for more than half of U.S. abortions, over 20 years ago. Banning its sale calls into question the FDA's power to regulate all drugs nationwide, the experts said. The challenge was brought by a coalition of anti-abortion groups and doctors seeking withdrawal of the FDA's mifepristone approval before Kacsmaryk, who is himself a conservative former Christian activist. Plaintiffs are arguing that the FDA in its 2000 approval did not adequately consider the drug's safety when used by girls under age 18 to terminate a pregnancy.

Any impact on the FDA will depend on details of the judge's ruling in the case known as Alliance for Hippocratic Medicine v. U.S. Food and Drug Administration. The challenge was brought by a coalition of anti-abortion groups and doctors seeking withdrawal of the FDA's mifepristone approval before U.S. District Judge Matthew Kacsmaryk of the Northern District of Texas, a conservative former Christian activist. The court could order mifepristone pulled from the market while it considers a final ruling. It would call into question the entire drug approval process, said Laurie Sobel, associate director for Women's Health Policy at the Kaiser Family Foundation. 'SO MUCH UNCERTAINTY'The possibility of its approvals being overruled would likely see the FDA become more cautious, Lee said.

☆ The Best Pillows for Side Sleepers, According to Experts
▼ + stars: | 2023-03-27 | by ( ) www.wsj.com time to read: +13 min

Best memory foam pillow for side sleepersSaatva Graphite Memory Foam Pillow $165 at Saatva This responsive and well-cushioned pillow is also cooling, thanks to its graphite-infused memory foam. (It’s technically made with shredded memory foam around a latex core.) More than other memory foam pillows we tested, the Saatva takes the shape of your head and neck—as in, you can see your form in the pillow. Another plus: It feels cool to the touch, which we found isn’t always the case with memory foam pillows we’ve tried. The company uses both graphite and gel in its memory foam to carry heat away from your body.

"Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. A furious race to reprice interest rate expectations also buffeted markets as investors bet the Federal Reserve will be reluctant to hike next week. Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks." After marathon weekend talks, HSBC HSBA.L said it was buying the British arm of SVB for one pound ($1.21).

Fears remained on Wall Street on Monday despite the measures announced over the weekend following the collapse of California-based Silicon Valley Bank (SIVB.O) and New York-based Signature Bank (SBNY.O). Some investors have called for further action by banking regulators to reassure markets. But banking experts said regulators would likely want to see the extent of any further contagion before deciding on fresh measures. In addition, the Fed announced Monday it was doing an internal review of its oversight of Silicon Valley Bank, where it was the primary regulator. Prior to Silicon Valley Bank's collapse, banks had been lobbying lawmakers to push back against the Fed's review, arguing it could slow the economy.

Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. Shares of First Republic Bank (FRC.N) tumbled more than 60% as news of fresh financing failed to reassure investors, and so did Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O). U.S. bank regulators sought to reassure nervous customers on Monday who lined up outside SVB's Santa Clara, California, headquarters, offering coffee and donuts. Regulators also moved swiftly to close New York's Signature Bank SBNY.O, which had come under pressure in recent days. In China, where SVB was the main go-to foreign bank for the majority of start-ups, entrepreneurs and venture funds were also scrambling for alternative funding.

SVB's meltdown sparked a partisan battle in Washington on Monday, with Democrats arguing that a Trump-era change to bank oversight rules undermined the stability of regional banks. In the money markets, indicators of credit risk in the U.S. and euro zone banking systems edged up. [1/3] U.S. President Joe Biden delivers remarks on the banking crisis after the collapse of Silicon Valley Bank (SVB) and Signature Bank, in the Roosevelt Room at the White House in Washington, D.C., U.S. March 13, 2023. On Monday morning, U.S. bank regulators sought to reassure nervous customers who lined up outside SVB's Santa Clara, California, headquarters, offering coffee and donuts. A furious race to reprice interest rate expectations also sent waves through markets as investors bet the Fed will be reluctant to hike next week.

Biden said his administration's actions over the weekend meant "Americans can have confidence that the banking system is safe", while also promising stiffer regulation after the biggest U.S. bank failure since the 2008 financial crisis. Shares in U.S. banking giants JP Morgan Chase (JPM.N), Morgan Stanley (MS.N) and Bank of America (BAC.N) nevertheless weakened. But your second thought is, how big was that crisis, how big were the risks that this step had to be taken?" U.S. regulators stepped in on Sunday after the collapse of SVB, which had seen a run after a big bond portfolio hit. [1/3] U.S. President Joe Biden delivers remarks on the banking crisis after the collapse of Silicon Valley Bank (SVB) and Signature Bank, in the Roosevelt Room at the White House in Washington, D.C., U.S. March 13, 2023.

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