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☆ Wall Street Cruel Summer: Stock Market Crash, Inflation Ends Vacation
▼ + stars: | 2024-05-05 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

Inflation canceled that, and now it's almost certain that Wall Street's summer is canceled, too. That means Wall Street's fantasies of decamping to the Hamptons for the summer have shattered. You can see why this tug-of-war will keep Wall Street on its toes and off Georgica Beach. There is a certain set on Wall Street that does not get to "rosé all day" on Hamptons summer water when currencies trade that way. The simplicity that Wall Street hoped for is one of the few options that's no longer on the table.

Persons: —, Justin Simon, decamping, Jerome Powell, opportunistically, Jamie Dimon, Torsten Slok, Slok, Powell, we'd, David Lefkowitz, dory, McDonald's, Silas Myers, Wall, Zuck, Simon, they're, it's Organizations: Federal Reserve, Jasper Capital, Nasdaq, Hamptons, JPMorgan, Fed, Pepsi, Mar Vista Investments, Wall, Nvidia, Tesla, Microsoft, Meta, Apple, EU Locations: Georgica, Japan

☆ People priced out of Austin and Orlando are moving to these cheaper cities
▼ + stars: | 2024-03-27 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Austinites are heading an hour away, to Killeen, according to real-estate consultancy John Burns. Orlando residents are decamping to Lakeland, Florida, trading nightlife for space, John Burns said. The Austin metropolitan area similarly grew 2.7% in 2021 and 2022, adding 63,000 people, according to the city of Austin. In 2021, 1,607 households moved from Orlando to Lakeland, while 250 households left Austin for Killeen, John Burns said in its analysis, published March 5. The primary reason is affordability, Austin real-estate agent Lisa Copeland told Business Insider.

Persons: John Burns, —, Orlando, Redfin, Killeen, Austin, Lisa Copeland, Copeland, Jordan Prais, It's, Prais, Lakeland's, it's Organizations: Service, Orlando, Austin, John, John Burns Research, Consulting, Business, Lakeland, Florida Children's Museum, Army Locations: Killeen, Orlando, Lakeland , Florida, Austin, Killeen , Texas, Lakeland, Central Florida, Austinites, Texas, Fort Hood

☆ Small cities to watch in 2024: Why these 4 underrated locales are drawing movers from big cities
▼ + stars: | 2024-01-22 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Some movers are giving up on Los Angeles and Dallas for smaller cities in Texas and Nevada. The cherry on top is the relatively affordable real estate compared to other cities. That lump sum of cash got some movers in the door, but the booming job market and relatively affordable housing are keeping them there. New Braunfels, Texas Regan Bender/ShutterstockPeople flock to the Lone Star state, but not always to the usual destinations. New Braunfels, Texas, attracts more movers than Austin and Dallas today with its relatively affordable homes and dearth of job opportunities.

Persons: —, Vegas , Nevada Wendy Lee Las, Richard Katz, Katz, Andrew Arevalo, Adam Outlaw, Outlaw, New Braunfels , Texas Regan Bender, Anna Lagos, we'd, Jean Tanner Organizations: Service, Austin, . Topeka , Kansas Getty, Topeka, Lone Star, Adobe, Meta, Microsoft Locations: Los Angeles, Dallas, Texas, Nevada, New York, Austin, Las Vegas, New Braunfels , Texas, Topeka , Kansas, Provo , Utah, Vegas , Nevada, Sin, Virginia, Vegas, . Topeka , Kansas, Topeka, Boston, California, San Antonio, New Braunfels, Lagos, Denver, Salt Lake City, Provo

Aside from pleasantries, neither man spoke as they greeted each other in front of cameras and the meeting ended without any public comment. It was not immediately clear if the lack of words indicated the meeting had gone poorly. Blinken had visited Israel and met with Israeli Prime Minister Benjamin Netanyahu on Friday before decamping to Jordan for meetings with senior Arab officials on Saturday. U.S. officials believe that Netanyahu may soften his opposition if he can be convinced that it is in Israel’s strategic interests to ease the plight of Palestinian civilians in Gaza. Blinken and other U.S. officials are offering a vague outline that it might include a combination of a revitalized Palestinian Authority along with international organizations and potentially a peacekeeping force.

Persons: Antony Blinken, Mahmoud Abbas, Blinken, Matthew Miller, Abbas, Miller, –, Benjamin Netanyahu, decamping, Netanyahu, United Arab Emirates –, ”, Israel, Ayman al Organizations: West Bank, —, State Department, Authority, Israeli, U.S, United, United Arab Emirates Locations: RAMALLAH, West, Israel, Gaza, Ramallah, Jordan, Washington, Berlin, Amman –, Egypt, Saudi Arabia, Qatar, United Arab, U.S, Jordanian, Palestinian

☆ This city never slept. Now with China tightening its grip, is the party over?
▼ + stars: | 2023-11-03 | by ( Chris Lau | ) edition.cnn.com time to read: +16 min

China’s message at the time was that even if change was coming to Hong Kong, its spirit of “anything goes” would be staying put. People gather outside a restaurant on a near-empty street in the Soho area of Hong Kong. Officials say they were “fluorescent.”A Hong Kong government spokesman told CNN this week that the activities were “well-received by local residents and tourists”. Under Hong Kong’s pandemic restrictions, live music was all but banned in small venues for more than 650 days. Months before the virus emerged, China had been tightening its grip on Hong Kong in response to pro-democracy protests that had spread throughout the city.

Persons: Hong Kong, Boy George, Grace Jones, Pete Tong, Paul Oakenfold, China’s, Deng Xiaoping, China –, Deng, Deng’s, –, Noemi Cassanelli, Hong, John Lee, “, ”, Gary Ng, Covid, Benson Wong, Wong, Lan Kwai Fong, Cassanelli, Hong Kongers, Kongers, Ng, Yan Wai, ” Yan, hasn’t, Billy H.C, Kwok, Richard Feldman, Feldman, Becky Lam, ” Lam, “ They’ll, ” Feldman, Kwai Fong, Marco Chan, Chan, ” Allan Zeman, Allan Zeman, Lan, CNN “ They’ll, they’ll, Lam, Hong Kong’s Organizations: Hong Kong CNN, East, West, Britain, Occupy Central, National Security, Michelin, CNN, Hong, Tai Hang, National, Hong Kong Wine, HKSAR, Immigration Department, Chinese University of Hong, Soho Association, Netflix, “, Lan Kwai Fong Group, Hong Kong, Shady Locations: China, Hong Kong, Asia, Hong, Soho, Japan, Singapore, Tai, Thailand, Lan Kwai, expats, Britain, Canada, Australia, Natixis, Chinese University of Hong Kong, Lan, revelers, California, Central, Shenzhen, Hong Kong’s Central, Bangkok, Shanghai, Taipei, Petticoat

☆ Wall Street’s glum rainmakers deserve more love
▼ + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com time to read: +7 min

Morgan Stanley’s (MS.N) investment banking revenue in the third quarter was its worst since 2009, at just over $1 billion. The rapid rise in interest rates, which makes traditional lending more lucrative for so-called universal banks, adds to the glum aura around investment banking. Reuters Graphics Reuters GraphicsInvestment banking isn’t the biggest part of any bulge-bracket firm’s revenue, but it’s disproportionately profitable. Goldman made nearly $8 billion more from investment banking in 2021 than in the last four quarters. Declining volatility in markets is great for deals, but it’s nowhere near as good for banks’ trading desks, which tend to thrive on choppy conditions.

Persons: Caitlin Ochs, Goldman Sachs, Morgan Stanley’s, Goldman, Morgan Stanley, James Gorman, Jane Fraser, David Solomon, they’re, Peter Thal Larsen, Oliver Taslic Organizations: New York Stock Exchange, REUTERS, Reuters, Exxon Mobil, Chevron, JPMorgan, Citigroup, Reuters Graphics Reuters Graphics Investment, Hamas, Goldman, Bank of America, Barclays, Citi, Thomson Locations: New York City, New York, U.S, catnip, Israel, China

☆ Welcome to the Great Internet Splintering
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. The fatigue I have felt is therefore partly fueled by another, more-pressing concern: Which social network should I bank on? But until it emerges, I expect to continue living a splintered and nomadic online social life.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Michigan, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Great news — social media is falling apart
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

And I'm not alone: People are spending less and less time on social media. But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. Studies have found that news overload from social media can cause stress, anxiety, fatigue, and lack of sleep.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Massachusetts Amherst, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ My family inherited a 900-year-old Italian castle. Here’s what it’s like living there
▼ + stars: | 2023-09-27 | by ( Francesca Street | ) edition.cnn.com time to read: +10 min

Ludovica Uberta Sannazzaro NattaSannazzaro Natta moved into the 45-roomed, turreted, fairytale Castle Sannazzaro when she was four years old. “I would just run around the castle,” Sannazzaro Natta recalls. Ludovica Uberta Sannazzaro Natta“I didn’t really know how to tell people about living in a castle,” she says. Experience a slice of castle lifeA few rooms in Castle Sannazzaro are available as a vacation rental. Ludovica Sannazzaro NattaNow that she’s an adult, Sannazzaro Natta is increasingly aware of the costs and upkeep associated with castle living.

Persons: Natta, Ludovica, Sannazzaro, Sannazzaro Natta, “, couldn’t, Harry Potter, ”, she’d, “ It’s, “ I’m, Covid, decamping, ’, there’s, Sannzzaro Natta, she’s, Natta isn’t, –, it’s, Henry VIII Organizations: CNN, ”, CNN Travel, Netflix Locations: Los Angeles and New York, Italy, Giarole, Milan, Sannazzaro, Turin, Genoa, “, ”

☆ 'He simply wants to kill the platform': Some X users are threatening to quit the app after Elon Musk suggested he might move it behind a paywall
▼ + stars: | 2023-09-19 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Elon Musk says he's considering moving X behind a paywall. Some users are unhappy with the idea and threatening to leave the app. "There really is no doubt that he simply wants to kill the platform," one X user said of the decision. Comedian Chelsea Hart said the suggested paywall may hinder free speech and citizen journalism in some countries, something Musk claims to support. Another user seconded this: "I believe social media should be free to users, so if that happens, I'll be decamping to the other place permanently."

Persons: Elon Musk, Benjamin Netanyahu, David Sacks, Chelsea Hart, Bradley Wall, I've Organizations: Service, Twitter, Tech Locations: Wall, Silicon

☆ Remote-working parents with young kids are fleeing cities to get more bang for their buck
▼ + stars: | 2023-07-18 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Parents with children under 5 are shunning big cities faster than everyone else. But the flight of young parents and a shrinking population might mean cities have to compete to keep you. A new report from the Economic Innovation Group, or EIG, found that families with young kids are shunning big cities. That created a nexus of families with young children just outside of cities, what the report calls a "donut effect." But for cities that are shedding young families but still hold allure, like New York, the reshaping might be more of a rethinking of their value proposition.

Persons: Connor O'Brien, weren't, O'Brien, would've, what's, Eliza Relman Organizations: Service, Economic Innovation Group, jkaplan Locations: Wall, Silicon, Florida, EIG, Carolinas, New York, Los Angeles

☆ Can AI save commercial real estate in San Francisco?
▼ + stars: | 2023-07-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge on October 27, 2022 in San Francisco, California. Alexander Quinn, senior director of research at commercial real estate company JLL, said his firm sees bright spots in San Francisco’s commercial real estate market as AI companies drive office leasing demand. A shopper exits the Westfield San Francisco Centre shopping mall in San Francisco, California, US, on Tuesday, June 13, 2023. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home. “I think the crash is coming, and it hasn’t happened yet,” he added, referring to commercial real estate prices.

Persons: Naveen Rao, CBRE, Justin Sullivan, it’s, ” Rao, San, Alexander Quinn, JLL, ” Quinn, Rao, OpenAI, ”, “ There’s, MosaicML, Quinn, “, Francisco’s, David Paul Morris, Henrique Dubugras, ” Michael Tannenbaum, Tannenbaum, Hans Hansson Organizations: CNN, San, Westfield, San Francisco Centre, Westfield San Francisco, Bloomberg, Getty, London, US, “ Locations: San Francisco, Southern California, Francisco, Oakland, San Francisco , California, ”, “ San Francisco, New York, Los Angeles, city’s, San Francisco’s Union, Coresight, Westfield San Francisco Centre, California, Francisco’s, San Jose, decamping, United States

☆ Producer Ryan Murphy Is Expected to Move to Disney
▼ + stars: | 2023-06-20 | by ( John Koblin | Brooks Barnes | ) www.nytimes.com time to read: +1 min

The contract talks with Disney are not finished, according to three people briefed on the matter, who spoke on the condition of anonymity to discuss private negotiations. But the talks between Mr. Murphy and Disney are advanced, the people said. Mr. Murphy’s contract with Netflix expires at the end of the month. Representatives for Mr. Murphy, Disney and Netflix either declined to comment or did not return calls. Bloomberg reported Mr. Murphy’s likely move to Disney earlier on Tuesday.

Persons: Ryan Murphy, Jeffrey Dahmer, ”, decamping, ’, Murphy, Murphy’s Organizations: Walt Disney Company, Hollywood, Netflix, Disney, Bloomberg Locations: Hollywood

☆ The Places Most Affected by Remote Workers’ Moves Around the Country
▼ + stars: | 2023-06-17 | by ( ) www.nytimes.com time to read: +11 min

Source: American Community SurveyThis rising mobility was driven by remote workers who sought new housing in their same metro areas, but also by a wave of remote workers decamping to other parts of the country. The rise of remote work meant that many such workers moved into these places, too. But for New York, San Francisco, Washington and Los Angeles, significantly more remote workers left than arrived. New York Metro Area Net domestic migration of workers Prepandemic 2018-19 Pandemic 2020-21 In-person workers Remote The N.Y.C. The remote workers identified this way may range from hybrid workers who primarily work from home to permanent remote workers and self-employed people who have no nearby office to visit.

Persons: ”, Hans Johnson, Johnson, Nicholas Bloom, Mr, Bloom, Adam Ozimek, Ozimek, Eric Carlson, It’s, “ Organizations: San, Major Metros, metros, York, Angeles, Washington, Seattle, Raleigh, Diego, Dallas, Sacramento, Hartford, American, Survey, San Jose metros, New York Metro Area Net, Public, Institute of California, Remote Workers, American Community Survey, Stanford, Economic Locations: San Francisco, New York, San Francisco , Washington, Los Angeles, Austin, Denver, Dallas, Nashville, Jose, Calif, Austin , Texas, N.C, Portland, Ore, Va, Conn, California, Bay Area, Washington, Ocean City, N.J, Cape Cod, Salisbury, Md, Maryland, Delaware, Fla, Stroudsburg, Pa, S.C, Panama City, Duluth, Minn

☆ Inside a debt ceiling standoff ‘far more dangerous than people will recognize’
▼ + stars: | 2023-05-31 | by ( Jeremy Diamond Lauren Fox Melanie Zanona Phil Mattingly Arlette Saenz Kevin Liptak | Jeremy Diamond | Lauren Fox | ) edition.cnn.com time to read: +17 min

“She’s well respected by both sides,” McCarthy said of the former longtime House Appropriations Committee staffer, according to White House officials. “Asking me about the communication (with the White House) implies there was communication,” one House Democrat said. For the White House negotiators, that meant late nights and early mornings. The White House negotiators left Capitol Hill abruptly and for hours, it was unclear when the conversations would resume. Quietly, White House negotiators had never actually stopped talking to their Republican counterparts.

Persons: Joe Biden, Kevin McCarthy, McCarthy, “, “ You’ve, ” Rep, Patrick McHenry, Biden, Steve Ricchetti, Shalanda Young, Louisa Terrell, ” McCarthy, James S, Alex Wong, Young, Garret Graves, ” Graves, Graves, Tom Cole of, ” Cole, White, Jeff Zients, McHenry, ‘, Chuck Schumer, Hakeem Jeffries, Ricchetti, ”, ” Terrell, Dan Meyer, –, apprised, decamping, ’, Anna Moneymaker, nonstarters, ” McHenry, McHenry –, —, Susan Walsh, businesslike, Biden’s, Eisenhower, Zients, Jose Luis Magana, Young –, Louisianans –, Jim Clyburn, Clyburn, Annie Kuster, ” Kuster, wasn’t, ” Young Organizations: CNN, White, ”, Republican, Legislative, Young, Management, Brady, Capitol, White House, GOP, McCarthy’s, Pennsylvania, Capitol Hill, U.S, Biden, Democrat, Democratic, Republicans, Building, Air Force, West Executive, LSU Tigers, South Carolina Democrat, New Democrat Coalition, Democrats Locations: Irish, Washington , DC, Louisiana, Tom Cole of Oklahoma, McHenry, Hiroshima, Japan, Washington

☆ Black Men Don’t Do Therapy. Or So I Thought.
▼ + stars: | 2023-05-18 | by ( Ismail Muhammad | ) www.nytimes.com time to read: +4 min

Sitting in a chair next to the record player, I’d play the song over and over and over, listening tearfully. When my favorite TV characters died, I’d mourn them, staying in my feelings for days at a time. Eventually I met a therapist who practiced cognitive behavioral therapy, an approach whose orientation toward problem-solving suited me. I’d learned to register, name and acknowledge my feelings as a way of managing them rather than being overwhelmed. Sadness sneaked up on me as I tried to describe my emotional life to people who I knew loved me but with whom I communicated through a haze of mutual discomfort.

☆ 'iCarly' writers join the WGA strike as showrunner Ali Schouten calls out Hollywood studios' 'corporate greed'
▼ + stars: | 2023-05-11 | by ( Reed Alexander | ) www.businessinsider.com time to read: +13 min

Insider spoke to Ali Schouten, the showrunner behind Paramount+ series "iCarly," about what's at stake. The "iCarly" writers will link up with the picket line outside the lot where the show is filmed, according to Ali Schouten, the series' showrunner and executive producer. Ahead of the "iCarly" writers' picketing on Thursday, I spoke with Schouten to understand what she and her colleagues are fighting for. Lisa Rose/Paramount+The last writers' strike resulted in $2 billion worth of losses for the California economy, and some experts predict the impact of this work stoppage could be even greater. How is the writers' strike impacting you, your business, or your family?

☆ UK listing shakeup requires double dose of hope
▼ + stars: | 2023-05-03 | by ( Neil Unmack | ) www.reuters.com time to read: +4 min

The Financial Conduct Authority isn’t the only watchdog to water down its listing rules, but it has more reasons than most to up its game. The UK prides itself on being a financial hub, but accounted for just 5% of global IPOs between 2015 and 2020. That’s why the FCA is proposing to replace a fiddly two-tier system of standard and “premium” listing rules with a single class. CONTEXT NEWSThe UK Financial Conduct Authority on May 2 published a series of proposals designed to encourage companies to list in the UK. The new framework would remove many investor protections currently required under the premium listing category.

☆ Silicon Valley Bank became the go-to bank for startups with a network of top-tier VCs. Underrepresented founders say that created barriers to access for them.
▼ + stars: | 2023-03-23 | by ( April Joyner | Ben Bergman | ) www.businessinsider.com time to read: +7 min

But some early-stage founders told Insider they had trouble getting access to SVB's services. SVB's reliance on VC networks made it less accessible to some underrepresented founders, they said. With its focus on venture-backed startups, Silicon Valley Bank provided loans and lines of credit to businesses that often wouldn't qualify for such services at a larger bank. But the earliest-stage companies — those without significant venture funding or a notable VC backer — were still sometimes shut out, founders told Insider. Jean-Charles and Alvarez-Bailey said they didn't believe bias or discrimination was at play in SVB's decisions — they simply didn't meet the bank's VC funding threshold.

☆ The only thing Elon Musk understands about Twitter is how to kill it
▼ + stars: | 2022-11-21 | by ( Adam Rogers | ) www.businessinsider.com time to read: +15 min

Biologists, anthropologists, and information theorists do think that social networks, like Musk's bird app, show at least some signs of being flocks. "Elon's tweet is basically espousing the invisible hand of social behavior," Bak-Coleman says. In this construction, a social network might have become a collective superintelligence, had capitalists left it to its — our? Under Musk, Twitter has entered the dance-off phase. I'll be sad if the Twitter superintelligence starts singing a Kubrickian cover of "Daisy" and implodes into a pile of melting isolinear chips.

☆ Senate Democrats laugh off Trump's endorsement of banning congressional stock trading. But there's still no consensus on passing their proposals in the lame duck session.
▼ + stars: | 2022-11-16 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Senate Democrats have been wrestling with a proposed congressional stock trading ban. Donald Trump endorsed banning congressional stock trading in his 2024 campaign launch. He still felt qualified to weigh in on the unfinished legislative business Senate stock-ban point man Sen. Jeff Merkley of Oregon shelved until the lame duck in September. "I'm pleased to hear Trump supports a ban on congressional stock trading," Merkley wrote in an email. Stock trading ban advocate Sen. Elizabeth Warren of Massachusetts urged Democratic leaders to follow through on the most popular proposals before decamping for the holidays.

☆ Exclusive: Twitter is losing its most active users, internal documents show
▼ + stars: | 2022-10-25 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The reality, according to internal Twitter research seen by Reuters, goes far beyond the handful of examples of celebrities ghosting their own accounts. Twitter was motivated to investigate “disturbing” trends among users that may have been masked by overall growth in daily active users and better understand the decline in the company’s most active users, the documents said. Twitter’s most active English-speaking users were also increasingly interested in cryptocurrencies, reaching an all-time high in late 2021, the internal documents showed. ‘DEVASTATING’ LOSSESTopics that have traditionally made Twitter a popular platform for its millions of users are now in decline among the most active English-speaking users, the documents show. But the categories have since lost the highest number of heavy Twitter users and have shown no signs of recovery, the report said.

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