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☆ Paris waiters compete in race to get a coffee and croissant across the capital
▼ + stars: | 2024-03-25 | by ( Xiaofei Xu | ) edition.cnn.com time to read: +4 min

“I tried holding the tray, it’s pretty heavy!” Paris Mayor Anne Hidalgo told journalists shortly before the race started. Waiters start the Course des Cafes race on March 24, 2024. The “Course des Garçons de Café” (cafe waiters race) was first launched in 1914 to highlight the cafés and restaurants of the French capital, according to French historian Laurent Bihl. Throughout the years, it found popularity not only in Paris but across France in cities such as Nice, Belfort and Calais. Back on the streets of Paris, the quickest entrants completed Sunday’s Course des Cafés race – the name of the revived version has been shortened, dropping the ‘garçons’ – in less than 14 minutes.

Persons: Paris, “, Paris Mayor Anne Hidalgo, Dimitar Dilkoff, ’ It’s, ”, Ariel Weil, Pierre Rabadan, Nicolas Bonnet Oulaldj, Café, Laurent Bihl, Pauline Van Wymeersch, Samy Lamrous Organizations: Paris CNN, Paris Mayor, France, Getty, Paralympic Games, Petit Pont, La Contrescarpe Locations: Paris, AFP, France, Nice, Belfort, Calais, Hong Kong, Yokohama, La

☆ Why 7 prominent VCs are investing millions in new social startups like Diem, Lex, and 222
▼ + stars: | 2024-03-01 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +8 min

Mervana Parekh is a principal at Acrew and has invested in social startups like Diem, Afterparty, and Anything World. Best Nights VC. Nichols is a founding managing partner at MaC, which recently invested in social startups like Spill and Swsh. Boyce has backed a slew of new social startups, including Diem, Lex, Koodos Labs, and Swsh, alongside associate Rhian Horton. In 2024, Best Nights is looking to invest in companies that facilitate travel experiences after hearing people say their best nights have happened during trips or vacations, said de Silva.

Persons: —, Connie Chan, Mervana Parekh, Peter Boyce II, Marlon Nichols, Catalyst, Web3, Peter, Diem, Afterparty, Lorrain de Silva, Andrew Kahn, Miley Cyrus, Lorde, Kahn, Aaron Matusow, Dan Kruchkow, Nichols, Elizabeth Weil, Kevin Weil, John Smothers, Boyce, Lex, Rhian Horton, Lorrain, Silva, BestNights, Aaron Leithäuser, Gen Z, Peter Boyce, de Silva, Acrew Organizations: Service, Business, Acrew, Stellation, MaC Venture, VCs, Stanford University, Startup, Pudgy Penguins, Crush Ventures, VC, Crush, MaC Venture Capital, MaC, Catalyst, Koodos Labs, Big Tech Locations: 1kx, San Francisco , New York, Lisbon, Acrew, San Francisco, Berlin, Los Angeles and New York, Los Angeles, New York, Rythm

Veteran Wall Street executive Omeed Malik is planning to raise over $3 million and donate at least $100,000 in support of Donald Trump's campaign, the latest backer of Florida Gov. Ron DeSantis' failed bid to help the former president. Malik plans to raise at least $3 million for Trump's campaign for president, an advisor to him told CNBC. That's the same amount he raised for DeSantis' 2022 gubernatorial campaign. The advisor was granted anonymity to describe private efforts to help Trump.

Persons: Omeed Malik, Donald Trump's, Ron DeSantis, Malik, Robert F, Kennedy Jr, Weil, Joe ] Biden, Trump, Tucker, He's, PublicSquare, DeSantis Organizations: Wall, Florida Gov, Farvahar Partners, Democrat, Republicans, of Foreign Relations, Bank of America, Manges LLP, Trump voters, Amazon, CNBC Locations: Florida, New York City

☆ Weil: Distress Index shows profit issues as main driver of distress
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWeil: Distress Index shows profit issues as main driver of distressAndrew Wilkinson, senior European restructuring partner at Weil, Gotshal & Manges, discusses the Weil Distress Index of European corporates.

Persons: Andrew Wilkinson, Weil Organizations: Weil Locations: European

☆ Europe narrowly avoids a recession
▼ + stars: | 2024-01-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Europe’s economy avoided ending 2023 in a recession by the narrowest of margins, official data showed Tuesday. In the July-to-September quarter, GDP dipped 0.1%. Europe’s economy has struggled to regain momentum following the pandemic, hamstrung by high inflation and rapid interest rate hikes to combat it. The French economy, Europe’s second-largest, stagnated in the fourth quarter but grew 0.7% over the whole of 2023. He expects the eurozone economy to “flatline” in the first half of 2024 “as the effects of past monetary tightening continue to feed through and fiscal policy becomes more restrictive.”

Persons: —, Russia’s, ‘, Christoph Weil, ”, ” “, Jack Allen, Reynolds, “ Organizations: London CNN, Gross, Eurostat, Union, EU, ’, Commerzbank, European Central Bank, Capital Economics, ECB Locations: Ukraine, Europe, Italy, Spain

The meeting was aimed at garnering state leaders' support for such moves and addressing local authorities' complaints that public coffers and infrastructure are overburdened. The leader of the central state of Hesse put the total volume of aid at 3.5 billion euros. "Our shared goal is to push back irregular migration," said Scholz, after describing the agreement as a "historic moment." Some 230,000 people requested asylum in Germany in the first nine months of this year, more than in the full year 2022. His government has also agreed changes to existing rules to enable asylum seekers to enter the labour force more rapidly and to punish human traffickers with longer prison sentences.

Persons: Olaf Scholz, Hesse Boris Rhein, Lower Saxony Stephan Weil, Angela Merkel, Scholz, Sarah Marsh, Andreas Rinke, Miranda Murray, Rachel More, Barbara Lewis, Raju Gopalakrishnan Organizations: Lower, REUTERS, European Union, Thomson Locations: Hesse, Lower Saxony, Germany, Berlin, BERLIN, Russia, Scholz's

☆ Chile chasing Pan Am Games soccer golden double
▼ + stars: | 2023-11-02 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

SANTIAGO, Nov 1 (Reuters) - It was a deja vu double celebration for Chile at the Pan American Games on Wednesday as Martina Weil powered to women's 400 metre gold and the men's soccer team took a 1-0 win from the United States. The gold on back-to-back nights at the Estadio Nacional, where the 1962 World Cup final was played, were joyous achievements but it is a double opportunity at soccer gold that really has Chilean hearts pounding. The Chilean men have never won Pan Am Games gold and only once before, in 1987, appeared in the final losing to Brazil while the women have never before got to the semi-finals. Andrea Vargas gave Costa Rica their first gold of the Games successfully defending her 2019 Pan Am title in the 100m hurdles while Brazil's Eduardo Rodrigues won the men's. Led by double Olympic champion McLain Ward the U.S. won the equestrian team jumping gold ahead of Canada and Brazil.

Persons: SANTIAGO, Martina Weil, Santiago Adolfo Ford, Cesar Perez's, Weil, Brazil's Lucas Conceicao, Deanna Price, Andrea Vargas, Pan, Brazil's Eduardo Rodrigues, McLain Ward, United States Andrew Doddo, Venezuela's Eliecer Jose Parra, Argentina's Clara Isabel Di Tella, Olivia Fiechter, Amanda Sobhy Peru's Diego Elias, Colombia's Miguel Angel Rodriguez, Tyler Berger, Zane Richards, Mason Parris, Kyle Snyder, Steve Keating, Robert Birsel Organizations: Pan American Games, Estadio Nacional, Pan Am, Brazil, FIFA, Argentina, South, Pan, Costa Rica, Games, U.S, Paris, Canada, Mexico, Thomson Locations: Chile, United States, Brazil, Mexico, Chilean, Uruguay, Paraguay, Spain, Portugal, Morocco, United, Costa, Canada, Paris, U.S, Santiago

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat is nearing a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , according to people familiar with the matter. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat agreed to a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , the bank said, confirming an earlier Wall Street Journal report. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

☆ With Interest Rates Up, Get Ready for Financial Drama
▼ + stars: | 2023-10-26 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

Depositors lined up for a fourth day to withdraw money from Old Court Savings and Loan in Baltimore in 1985 amid that decade’s S&L crisis. Photo: Bettmann Archive/Getty ImagesInterest rates have soared. Can financial blowups be far behind? The yield on 10-year Treasury notes topped 5% this week for the first time since 2007. While not high by historical standards, it is a big move from less than 1%, where it was for most of 2020.

Organizations: Old, Savings, Loan Locations: Baltimore

☆ These Companies Are Being Squeezed by Higher Rates
▼ + stars: | 2023-10-15 | by ( Jack Pitcher | Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Analysis: Canada may struggle to recoup $26 billion cost of Trans Mountain pipeline
▼ + stars: | 2023-10-12 | by ( Nia Williams | ) www.reuters.com time to read: +5 min

Prime Minister Justin Trudeau's Liberal government bought Trans Mountain in 2018 for C$4.5 billion to rescue the expansion project, which has struggled with years of regulatory delay and massive cost overruns. A Reuters survey of five analysts and investors valued Trans Mountain between C$15 billion and C$25 billion, based on factors including projected earnings and oil shipping tolls. Trans Mountain Corp (TMC) CEO Dawn Farrell told local media last week the sale could wrap up by early 2025, just as Canada heads into a federal election. Trans Mountain offers strategic value as it is the only pipeline taking crude from Canada's oil patch to the Pacific, and on to Asian refining markets. "It's hard to imagine...that a pipeline like Trans Mountain would ever be built again," Poscente said.

Persons: Justin Trudeau's, Ryan Bushell, Dawn Farrell, Michael Dunn, Paul Poscente, Poscente, Pembina, Scott Burrows, Enbridge, Marc Weil, Dave Szybunka, Szybunka, Rod Nickel, Steve Scherer, Denny Thomas, Marguerita Choy Organizations: Ottawa, Justin Trudeau's Liberal, Reuters, Newhaven Asset Management, Trans Mountain Corp, Mountain, Cenovus Energy, Nations, Axxcelus, Chinook, Pembina Pipeline Corp, Indigenous Pipeline, TC Energy, Keystone, TC, Canoe Financial, Thomson Locations: Canada, Alberta, Trans, Newhaven, Pembina, U.S, Gulf, Calgary, Winnipeg, Ottawa

☆ Rising Rates Likely Hit Bank Balance Sheets in Quarter
▼ + stars: | 2023-10-02 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Tech bros keep obsessing about replacing the 'median human' with AI
▼ + stars: | 2023-09-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

He said: "For me, AGI…is the equivalent of a median human that you could hire as a co-worker." "It's interesting to use the term median human — that's importantly different from average human," Henry Shevlin, an AI ethicist and professor at the University of Cambridge, told Insider. How tech bros are defining this idea of median human intellect is open to question. Traditional measurements for comparing AI and human intelligence have tended to focus on capabilities rather than general intellect. But comparing AI with human intelligence at all can be ethically murky and potentially misleading, according to Mittelstadt.

Persons: Sam Altman, Altman, —, …, It's, you'd, Elizabeth Weil, it's, Brent Mittelstadt, Henry Shevlin, Shevlin, Mittelstadt Organizations: Service, Yorker, Twitter, McKinsey, Oxford Internet Institute, University of Cambridge

☆ Sam Altman tracked how quickly people responded to his texts and emails to distinguish between 'great and mediocre founders'
▼ + stars: | 2023-09-26 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Sam Altman tracked how quickly Y Combinator founders responded to his daily emails and texts. During that time, he kept notes on how quickly founders responded to his daily emails and texts, according to New York Magazine's Elizabeth Weil. Neither Altman's blog post nor the New York Magazine profile specified Altman's expected response times to texts and emails. Altman responded that he had written a program to look at how quickly Y Combinator's best founders answer his emails versus the "bad" ones. It was a difference of minutes versus days on average response times," Altman said at the time.

Persons: Sam Altman, —, Sam Altman —, Altman, New York Magazine's Elizabeth Weil, Tyler Cowen, Tyler, Y, OpenAI Organizations: New York Magazine, Service, OpenAI, Stanford University, York Magazine Locations: New York

☆ Euro zone economy likely contracted this quarter
▼ + stars: | 2023-09-22 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

LONDON, Sept 22 (Reuters) - The euro zone economy is likely contract this quarter and won't return to growth anytime soon, a survey showed, as the dampening effect of central banks' long campaign of interest rates rises becomes clearer. HCOB's flash euro zone Composite Purchasing Managers' Index (PMI), compiled by S&P Global and seen as a good gauge of overall economic health, rose to 47.1 in September from August's 33-month low of 46.7. "The increase in the ECB key interest rate by 450 basis points in the meantime is slowing down the economy in all euro countries." OUT OF ORDERSeptember's fall in overall activity in the euro zone came despite firms barely increasing their charges. The services PMI rose to 48.4 from 47.9 but spent its second month below the breakeven mark this year.

Persons: Christoph Weil, France's, Andrew Bailey, Sarah Meyssonnier, Bert Colijn, Jonathan Cable, Toby Chopra Organizations: P Global, August's, Hamburg Commercial Bank, ECB, PMI, European Union, Bank of England, Carrefour, REUTERS, European Central Bank, ING, Thomson Locations: Hamburg, Germany, Commerzbank, Europe's, Britain, Montesson, Paris, France, Spain

☆ Tether Is Lending Its Stablecoins Again
▼ + stars: | 2023-09-21 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, b11705f2

☆ Tiny Bank Called Republic First Faces Test of Depositors’ Faith
▼ + stars: | 2023-09-08 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Stubborn euro zone inflation fails to settle ECB rate debate
▼ + stars: | 2023-08-31 | by ( Balazs Koranyi | ) www.reuters.com time to read: +4 min

The ECB has raised rates at its fastest pace on record in the past year, taking them to a more than two-decade high. "We still do not expect the Governing Council to raise key rates further at its September meeting." "The latest inflation figures raise the probability of a new increase in interest rates in September," Diego Iscaro at S&P Global Market Intelligence said. "However, this is far from a done deal, and a rapidly deteriorating economic background will still give doves in the ECB's Governing Council plenty of ammunition to argue for a pause." "This decline could counteract our efforts to bring inflation back to target in a timely manner."

Persons: Eric Gaillard, Robert Holzmann, Holzmann, Christoph Weil, Diego Iscaro, Isabel Schnabel, Schnabel, Balazs Koranyi, Catherine Evans Organizations: REUTERS, Rights, Central Bank, ECB, Reuters Global Markets, P Global Market Intelligence, Thomson Locations: Nice, France, Austria's, ECB's, Frankfurt

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Goldman's private wealth arm oversees $1 trillion in assets for ultra-high net worth clients, who have $60 million or more in investable assets. The bank can serve high net worth investors through RIA and other wealth management clients, such as Creative Planning, Goldman said. Shares of Goldman Sachs were up 1.8% in afternoon trade. Goldman Sachs & Co LLC is serving as financial advisor and Weil, Gotshal & Manages LLP is serving as legal counsel to Goldman Sachs.

Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Marc Nachmann, Nachmann, Daniel Fannon, Weil, Saeed Azhar, Manya, Marguerita Choy, Megan Davies Organizations: REUTERS, Creative Planning, United Capital Financial Partners, Wealth Management, Reuters, Jefferies, Co, Gotshal, Manya Saini, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

☆ Goldman Sachs to sell wealth advisory unit to Creative Planning
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly//File Photo Acquire Licensing RightsAug 28 (Reuters) - Goldman Sachs (GS.N) on Monday said it has struck a deal to sell an investment advisory business to wealth management firm Creative Planning LLC. Creative Planning is an independent wealth management firm with more than 2,100 employees across its affiliates and $245 billion in combined assets under management and advisory. "It is margin accretive to Asset & Wealth Management and allows us to focus on the execution of our premier ultra-high net worth wealth management and workplace growth strategy," said Marc Nachmann, Goldman Sachs global head of Asset & Wealth Management in a statement. The bank can serve high net worth investors through RIA and other wealth management clients, such as Creative Planning, he said. Goldman Sachs & Co LLC is serving as financial advisor and Weil, Gotshal & Manages LLP is serving as legal counsel to Goldman Sachs.

Persons: Goldman Sachs, Andrew Kelly, David Solomon, Goldman, Marc Nachmann, Weil, Manya Saini, Saeed Azhar, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Creative Planning, United Capital Financial Partners, Creative, Wealth Management, Co, Gotshal, Thomson Locations: New York City , New York, U.S, Bengaluru, New York

☆ Cracks Deepen for America’s Biggest Hospital Landlord: Struggling Tenants, a Bailout on Hold
▼ + stars: | 2023-08-18 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Some Banks Struggle to Report Uninsured Deposits Correctly
▼ + stars: | 2023-08-09 | by ( Jonathan Weil | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ How Four Female Philosophers Responded to a Dire Decade
▼ + stars: | 2023-08-02 | by ( Jennifer Szalai | More About Jennifer Szalai | ) www.nytimes.com time to read: +2 min

THE VISIONARIES: Arendt, Beauvoir, Rand, Weil, and the Power of Philosophy in Dark Times, by Wolfram Eilenberger. If hell is other people, then so, too, is this world. “Around us other people circled, pleasant, odious or ridiculous: They had no eyes with which to observe me. I alone could see.”It’s a quote that Wolfram Eilenberger uses to potent effect in “The Visionaries,” which traces the lives of four philosophers in the tumultuous decade before 1943. Beauvoir, Simone Weil, Hannah Arendt and Ayn Rand: Each addressed the foundational question of the relationship between the self and others, between “I” and “we,” only to arrive at wildly different conclusions.

Persons: Arendt, Beauvoir, Rand, Weil, Wolfram Eilenberger, Shaun Whiteside, Simone de Beauvoir, Otherness, ”, Heidegger, Wittgenstein, Walter Benjamin, Ernst Cassirer, Simone Weil, Hannah Arendt, Ayn Rand, Eilenberger, ” Arendt, Red Simone Organizations: Dark Times, Magicians, Gestapo Locations: France, Rouen, Berlin, Nazi Germany, Paris, Russian, Hollywood and New York

☆ Illegal child labor on the rise with nationwide violations found, Labor Department says
▼ + stars: | 2023-07-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +12 min

JBS has said that they do not tolerate child labor and that they would stop using PSSI at every location where the child labor violations were alleged to have occurred. In addition, the Wage and Hour Division of the Labor Department is currently pursuing more than 700 open child labor cases. Officials at the Labor Department emphasized in a press call this week that the increase in child labor violation findings is partially due to “significantly enhanced child labor enforcement efforts” in recent months. The fight to weaken child labor lawsThe Department of Labor on Thursday said its interagency task force on child labor has begun cross-training with other governmental agencies like Health and Human Services and the Office of Refugee Resettlement to identify and report possible incidences of child labor exploitation. But at the same time that violations of child labor protections are rising, states across the country are introducing legislation to weaken child labor laws.

Persons: it’s, ”, Labor Julie Su, Jordan Barab, Obama, Barab, JBS, Cargill, ” PSSI, PSSI, “, That’s, DOL, Karen Garnett, Tiffanie Boyd, there’s, David Weil, Weil, Jaehoon, Jay, Chang, ” McDonald’s, they’re, Biden, Sen, Rich Draheim, “ That’s Organizations: New, New York CNN, Labor Department, Packers Sanitation Services Inc, Cargill, JBS, Department of Labor, Labor, Occupational Safety, Health Administration, PSSI, Blackstone Group, CNN, McDonald’s, of, “ Employers, Heller School for Social Policy, Management, Brandeis University, Hyundai, Kia, Health, Human Services, Refugee Resettlement, US Department of Agriculture, Economic, Institute, Minnesota, Republican Locations: New York, Nebraska, JBS USA, Minnesota, Louisiana, Texas, Louisville , Kentucky, McDonald’s, United States, DOL, Alabama, Colombia, El Salvador, Guatemala, Honduras, Mexico, Missouri , Ohio, South Dakota, Arkansas, Iowa, America

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