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☆ Coatue-backed Distyl AI founded by Palantir alums, raises $20 million funding round, sources say
▼ + stars: | 2024-09-23 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +1 min

Palantir alums Arjun Prakash and Derek Ho founded Distyl AI. AdvertisementDistyl AI, a startup applying generative AI to enterprise workflows, has raised a new Series A funding round of $20 million, Business Insider has learned. The new round values the startup at least $200 million, two sources familiar said. Founded in 2022, the company raised a $7 million seed round last April, reported VentureBeat. This story is available exclusively to Business Insider subscribers.

Persons: Palantir alums Arjun Prakash, Derek Ho, —, Coatue, Nat Friedman, Brad Gerstner Organizations: OpenAI, Service, Dell Technologies Capital, Business

☆ Opinion: Why we can’t let go of Jennifer Lopez and Ben Affleck’s love story
▼ + stars: | 2024-05-29 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +6 min

After expressing anxiety over other actors’ reluctance to star in the movie, Lopez brings up her spouse. Ben Affleck and Jennifer Lopez attend the 75th Annual Academy Awards at the Kodak Theater on March 23, 2003 in Hollywood, California. Now, with an album, film and documentary themed around their second act, Lopez has invited that scrutiny back again, despite her beloved’s obvious reluctance. “The Greatest Love Story Never Told” is swiftly becoming The Greatest Love Story Never Off Duty. Neither Lopez nor Affleck has addressed the current breakup rumors so far.

Persons: Holly Thomas, Katie Couric, Jennifer Lopez’s, Ben Affleck, Lopez, “, Benny Medina, I’m, Affleck, I’ve, ”, Jennifer Lopez, Kevin Winter, Jenny, that’d, Ben, You’ve, Elaine Goldsmith, Thomas, Derek Hough, that’s, Icarus, Simu Liu, “ We’re, ” Affleck, We’re Organizations: Katie Couric Media, CNN, Kodak Theater, Netflix Locations: London, Hollywood , California, Bennifer, Las Vegas, Vegas

☆ J.Lo's director breaks down the wildest details in 'This Is Me...Now,' from casting actors as her exes to that cameo-laden 'zodiac council'
▼ + stars: | 2024-02-16 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +11 min

For Meyers, Lopez's "emotional journey" is the connective thread, transforming a series of eclectic events into a complete story arc. Later, Jane Fonda (Sagittarius) compares Lopez's love life to a 4 a.m. "Vanderpump Rules" marathon. AdvertisementIn this scene, Lopez ties the knot with three different men at identical wedding ceremonies. In fact, Meyers said he and Lopez were careful to cast actors who didn't "accidentally depict" a real person from Lopez's life. She's unapologetic about what she's been through, and she's very happy where she is now."

Persons: —, Jennifer Lopez, She's, Shakira, Ben Affleck, Dave Meyers, Lopez, Ja, Pink Floyd, Jen, Fat Joe, Meyers, Variety, Affleck, couldn't, You've, Jen's, we're, Keke Palmer, Malone, Leo, Jane Fonda, Trevor Noah, Libra, Neil deGrasse Tyson, " Meyers, there's, scoff, They're, Tony Bellissimo, Derek Hough, Trevor Jackson, she's Organizations: Service, Super, Business, Zodiac Council, Zodiac, Love AA Locations: Bolivia

☆ The Man in the Sequined Tuxedo Who Built a Dance Community
▼ + stars: | 2024-01-16 | by ( Margaret Fuhrer | ) www.nytimes.com time to read: 1 min

The Oscar winner Ariana DeBose. Eleven cast members of last year’s Broadway production of “Bob Fosse’s Dancin’.”Those are just a few notable alumni of New York City Dance Alliance, a dance competition and convention celebrating its 30th anniversary this winter. It’s also the kind of name parade that makes Joe Lanteri, the organization’s founder and executive director, uncomfortable. “Of course I’m so proud of all these dancers,” Lanteri said. “But I can’t take credit for their success — for the work that every dance teacher and studio owner did with them in the trenches, for the whole community that helped them.”

Persons: Ariana DeBose, Derek Hough, Catherine Hurlin, Tiler Peck, Taylor Stanley, Bob Fosse’s Dancin, It’s, Joe Lanteri, ” Lanteri, ” Organizations: New York City Dance Alliance

☆ How to Use Industry ETFs to Ride Waves of Momentum
▼ + stars: | 2023-12-03 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

Riding waves of momentum is still possible by using single-industry exchange-traded funds, research finds. Illustration: Alex NabaumMomentum-trading mutual funds, which try to hold stocks that benefit most from upward market trends, first appeared in the 1980s. There are still some out there. But these days, investors who want to ride market upturns—or bet on market reversals—are turning more to single-industry ETFs. Investors over time have shifted to industry exchange-traded funds as a low-cost alternative to momentum mutual funds, whose returns have faltered over the past 20 years.

Persons: Nabaum

☆ Canada to add spending for housing amid slow growth and high debt payments
▼ + stars: | 2023-11-21 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland attends the Canada-CARICOM Summit in Ottawa, Ontario, Canada October 18, 2023. Housing Minister Sean Fraser on Monday confirmed the government is considering such a measure. Many Canadians are dealing with higher living costs and housing affordability has emerged as the main criticism against the government. Freeland has promised to use the FES to try to boost housing supply and to help Canadians struggling with inflation. The Bank of Canada hiked rates to a 22-year high of 5.00% between March of last year and July of this year.

Persons: Finance Chrystia Freeland, Blair Gable, Chrystia Freeland, Justin Trudeau's, Freeland, Derek Holt, Holt, Sean Fraser, Trudeau, Pierre Poilievre, Steve Scherer, Matthew Lewis Organizations: Finance, Canada, CARICOM, REUTERS, OTTAWA, Canada Finance, Justin Trudeau's Liberal, Scotiabank, Canadian Broadcasting Corp, Toronto Star, Housing, Monday, Conservative, Bank of Canada, Reuters, Thomson Locations: Ottawa , Ontario, Canada, FES, United States, Ottawa

☆ Derek Hough, America’s Ballroom Ambassador, Hits the Road
▼ + stars: | 2023-11-19 | by ( Brian Schaefer | ) www.nytimes.com time to read: +1 min

In England, Hough trained in many styles of dance as well as acting and singing. But it was the competitive ballroom dance scene that really grabbed him. Hough stayed in London for a decade pursuing opportunities, which included starring in “Footloose” on the West End in 2006. When Hough arrived, in the fifth season, it was clear to Green that he was particularly well suited to the show. On all of those metrics, Derek was really good.”Hough is a six-time “Stars” champion and three-time Emmy winner for his “Stars” choreography.

Persons: Hough, “, ”, Julianne, ” Green, Derek, ” Hough Organizations: “ Locations: England, London, United States

☆ Stock Funds Dropped 4% in October
▼ + stars: | 2023-11-06 | by ( William Power | ) www.wsj.com time to read: 1 min

Journal Reports: Investing MonthlyIf Interest Rates Are Peaking, What Investments Are Likely to Do Best? By Derek HorstmeyerJudging from past rate plateaus, it may pay to bet on small-cap and growth stocks—and to do it early.

Persons: Derek Horstmeyer

☆ Instant View: Canada gains 17,500 jobs in October, jobless rate rises to 5.7%
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

TORONTO, Nov 3 (Reuters) - Canada's economy gained a net 17,500 jobs in October, entirely in part-time work, and the jobless rate rose to 5.7%, Statistics Canada data showed on Friday. Employment in the goods producing sector grew by a net 7,500 jobs, largely in construction. STORIES:MARKET REACTION: CAD/LINK: https://www150.statcan.gc.ca/n1/daily-quotidien/231103/dq231103a-eng.htm?HPA=1COMMENTSDEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK:"So most of the jobs were part time. In terms of Bank of Canada, we got another set of jobs numbers before their next decision and a lot more data before the December meeting. You'd really need to see some strong holiday shopping and end of year activity in order to get a beat on Q4."

Persons: DEREK HOLT, you've, Steve Scherer, Denny Thomas Organizations: TORONTO, Statistics, ECONOMICS, SCOTIABANK, Bank of Canada, Thomson Locations: Statistics Canada, it's

☆ VIEW Canada's annual inflation cools in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +4 min

TORONTO, Oct 17 (Reuters) - Canada's annual inflation rate edged down to 3.8% in September on broad-based price reductions for some travel-related services, durable goods and groceries, Statistics Canada said on Tuesday. This beat analysts' expectations for annual inflation to remain at 4.0%. "It's pretty clear that (the central bank) won't be raising rates in my opinion in October. I think if we had gotten another inflation print like August in September - that was the big risk to have another hike. DEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK"I think on a trend basis, the Bank of Canada is behind the inflation wage cycles.

Persons: CLAIRE FAN, MICHAEL GREENBERG, FRANKLIN TEMPLETON, JULES BOUDREAU, MACKENZIE, There's, They'll, DEREK HOLT, Divya Rajagopal, Steve Scherer, Fergal Smith, Denny Thomas Organizations: TORONTO, Statistics, ROYAL BANK, CANADA, Bank of Canada, Business Outlook Survey, ECONOMICS, SCOTIABANK, Thomson Locations: Statistics Canada

REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada's annual inflation rate unexpectedly slowed to 3.8% in September and underlying core measures also eased, data showed on Tuesday, prompting markets and analysts to trim bets for another interest rate hike next week. Analysts polled by Reuters had forecast inflation to hold steady at the 4.0% rate recorded in August. Two of the Bank of Canada's (BoC's) three core measures of underlying inflation also decelerated. Money markets trimmed bets for a rate hike next week after the data. "There's no need for further rate hikes in Canada," Reitzes said.

Persons: Carlos Osorio, Jules Boudreau, stoking, Benjamin Reitzes, Reitzes, Statscan, Derek Holt, Macklem, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajagopal, Jonathan Oatis, Nick Zieminski Organizations: REUTERS, Rights OTTAWA, Reuters, Statistics, Mackenzie Investments, Bank of Canada's, Bank of Canada, BoC, BMO Capital Markets, Scotiabank . Bank of Canada, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada, Mackenzie, Ottawa, Toronto

The jobless rate stayed at 5.5% for a third consecutive month, Statistics Canada said. Wage growth is also beating market expectations," said Michael Greenberg, a portfolio manager for Franklin Templeton Investment Solutions. "Despite the aggressive rate hikes by the Bank of Canada, clearly demand remains strong and companies continue to hire. Money markets increased bets for a rate increase later this month after the jobs figures were published. With September's robust gains, the economy is averaging 30,000 monthly employment growth this year, up from 25,000 a month earlier.

Persons: Carlos Osorio, Michael Greenberg, Greenberg, Derek Holt, Holt, haven't, they've, we're, Statscan, Ismail Shakil, Nivedita Balu, Steve Scherer, Fergal Smith, Dale Smith, Mark Porter Organizations: Queen, West, REUTERS, Rights OTTAWA, Statistics, Reuters, Franklin Templeton Investment Solutions, Bank of Canada, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, U.S, Ottawa

The Canadian central bank had expected productivity, or output per hour worked, to improve as the economy recovered from the COVID-19 pandemic. Instead, it has fallen in eleven of the last 12 quarters, taking it back to its 2016 level. It also stands to add to unit labor costs, a key measure of inflation pressures coming from higher wages. "Our own forecast is that productivity growth will turn around, but that is a risk to the outlook and if productivity growth continues declining it will make it more difficult to get inflation back to target," Macklem said. The central bank has forecast that inflation will return to its 2% target in the middle of 2025.

Persons: Macklem, Derek Holt, tightens, Holt, Dennis Darby, Doug Porter, Fergal Smith, Steve Scherer, Deepa Babington Organizations: Bank of Canada, Reuters Graphics Reuters, BoC, Scotiabank, Federal Reserve, Canadian Manufacturers, Fraser Institute, BMO Capital Markets, Thomson Locations: Canadian, Canada, freefall, United States, Toronto, Ottawa

Two of the three core inflation measures also rose. The annual rate, the highest since the 4.4% reported in April, is double the Bank of Canada's 2% target. "Underlying inflation is still well above the level that would be consistent with achieving our target of 2% CPI inflation," she said. Money markets raised bets for a rate hike in October after the data, seeing a 42% chance of an increase after the price figures compared with 23% before. However, another inflation report and a bevy of other data are due out before the Canadian central bank next meets on Oct 25 to set the key overnight rate.

Persons: Derek Holt, Holt, Sharon Kozicki, Jimmy Jean, Justin Trudeau's, Andrew Grantham, David Ljunggren, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajogopal, Paul Simao, Mark Porter Organizations: Reuters, Statistics, Bank of Canada's, Scotiabank, Bank of, Bank of Canada, Canadian, Desjardins Group, CIBC Capital Markets, Tiff, Thomson Locations: OTTAWA, Statistics Canada, Canadian

TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

Canada created 39,900 jobs, Statistics Canada said, compared with a median forecast for a gain of 15,000. The labor market has been resilient even as the Bank of Canada (BoC) raised its key overnight rate 10 times since March 2022 to cool the economy. Money markets see a 44% chance of another BoC rate hike by year-end, up from 36% before the data were published. "This report alone won't make the Bank of Canada regret holding rates steady earlier this week. Derek Holt, vice president of capital markets economics at Scotiabank, noted a gain of 49,500 people in self-employed jobs.

Persons: Carlos Osorio, Andrew Kelvin, Royce Mendes, Derek Holt, Dale Smith, Fergal Smith, Andrea Ricci, Nick Macfie Organizations: Queen, West, REUTERS, Rights, Statistics, Bank of Canada, BoC, TD Securities, Desjardins Group, Canadian, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, Canadian, Ottawa, Toronto

☆ Canada finance minister defends central bank independence after rate comment
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas White/Illustration Acquire Licensing RightsSept 6 (Reuters) - Canadian Finance Minister Chrystia Freeland defended the central bank's independence on Wednesday after her comments welcoming the Bank of Canada's decision not to increase its key interest rate raised concerns to the contrary. In a widely expected decision, the Bank of Canada held interest rates steady at a 22-year high of 5%. It is rare for Canadian government ministers to publicly back or criticize central bank policies. Like many developed economies, the Bank of Canada makes its monetary policy decisions independent of the federal government. In June, when the central bank raised rates for the first time after a four-month pause, Freeland stressed that she respected the independence of the central bank, a sentiment she repeated in a press conference later in the day.

Persons: Thomas White, Chrystia Freeland, Freeland, Derek Holt, Pierre Poilievre, Justin Trudeau's, Steve Scherer, David Ljunggren, Denny Thomas, Leslie Adler Organizations: Canadian Finance, Bank of, Bank of Canada, Conservative, Liberal, Ontario, Thomson Locations: Canada, Bank of Nova Scotia, British Columbia, Ottawa

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Sept 6 (Reuters) - The Bank of Canada on Wednesday is expected to keep rates on hold at a 22-year high of 5% after the economy unexpectedly shrank in the second quarter, analysts said. While the economy turned negative in the second quarter, inflation has been stubborn, unexpectedly rising to 3.3% in July as core measures remained well above 3%. Canada's Liberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for feeding inflation with government spending and driving up rates during a housing crisis. But core inflation measures are inching down slowly, and a wealth of data is due out before the bank next meets to discuss rates in October.

Persons: Blair Gable, Derek Holt, Justin Trudeau's, Pierre Poilievre, Tiago Figueiredo, Holt, Steve Scherer, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, of Canada, Scotiabank, Canada's Liberal, Conservative, Bank of Canada's, Desjardins Group, Reuters, BoC, Thomson Locations: Ottawa , Ontario, Canada

InvestingThe market’s best guess at the real, after-inflation, cost of money is back within the range of what once counted as normal. America has put the era of low rates behind it. Can it cope?

Locations: America

Analysts polled by Reuters had forecast inflation would rise to 3.0% from the 27-month low of 2.8% recorded in June. Money markets increased bets for a quarter-percentage-point rate hike in September. They saw a 35% probability immediately after the release of the inflation data, up from 22% beforehand, and then settled back to a 31% chance. Not all economists thought the stronger-than-expected price data would tip the scales toward a hike as soon as its next meeting in September. The Bank of Canada, after its last rate hike in July, said it would study data closely before moving again.

Persons: Carlos Osorio, Statscan, Derek Holt, Tiago Figueiredo, Jules Boudreau, Ismail Shakil, Steve Scherer, Dale Smith, Paul Simao, Jonathan Oatis Organizations: REUTERS, OTTAWA, Reuters, Statistics, Bank of, Scotiabank, Canadian, Bank of Canada, Desjardins Group, Mackenzie Investments, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada, Mackenzie, Ottawa

Macklem came under a rare attack last year from opposition politicians for misjudging inflation and locking in to a rigid forward guidance. "We are turning the corner on inflation," Macklem told reporters in January when the BoC became the first major central bank to announce a pause. The central bank's tightening campaign is a major concern for Canadians who loaded up on cheap mortgages and took on credit card and other debt in recent years. "Now maybe you're getting a certain maturity of the central bank that says, 'We're not going to do that again,'" Holt said. He assured Canadians during the pandemic that rates would rise only in 2023 when it expected the economic slack to be absorbed, but the central bank began hiking rates in March 2022 as inflation spiked.

Persons: Derek Holt, Macklem, Holt, Marc Chandler, Steve Scherer, Fergal Smith, Denny Thomas, Matthew Lewis Organizations: OTTAWA, Bank of Canada, BoC, Scotiabank ., Canadian Real Estate Association, Bannockburn Global Forex, Thomson Locations: Bannockburn, Ottawa, Toronto

After a five-month pause, the BoC raised its overnight rate in June, saying monetary policy was not sufficiently restrictive. "If new information suggests we need to do more, we are prepared to increase our policy rate further," BoC Governor Tiff Macklem told reporters after the decision. The BoC's overnight target rate was last at 5.00% in March and April of 2001. Twenty of 24 economists surveyed by Reuters had expected the central bank to lift rates by a quarter of a percentage point. Money markets had seen a more than a 70% chance of a rate hike before the announcement.

Persons: Derek Holt, Andrew Kelvin, Steve Scherer, Ismail Shakil, Fergal Smith, Divya Rajogopal, Nivedita Balu, Paul Simao, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, BoC, Scotiabank, Reuters, TD Securities, Thomson Locations: Canada, Toronto

☆ Funds that have more complicated names perform worse than less-wordy peers, study finds
▼ + stars: | 2023-07-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Funds with more complicated names tended to do worse than funds with simpler names. One possible reason is that complex-named funds are more speculative and use buzzwords to attract investors. Of the seven noncomplex funds that beat complex funds, the average difference was 0.37 percentage point. Only large-cap equity funds saw the reverse of this, where complex funds outdid the simpler-named funds by 0.47 percentage point. Another explanation could be that complex-named funds may simply be more speculative, leaning on buzzwords to attract investors.

Persons: Derek Horstmeyer, Horstmeyer Organizations: Service, George Mason University, Street Locations: Wall, Silicon

OTTAWA, July 7 (Reuters) - Canada's economy added far more jobs than expected in June, data showed on Friday, a result analysts said probably seals the deal for another Bank of Canada (BoC) interest rate hike next week. The unemployment rate in June increased for the second consecutive month and is now at its highest level since February 2022, though still below a pre-pandemic 12-month average, Statscan said. The June jobs report is the last major economic figure to be released before the BoC's rate announcement on Wednesday. Growth has remained resilient despite nine rate increases totaling 450 basis points since March of last year. The net jobs addition in June, the largest since January, were driven by full-time work.

Persons: Jobs, Statscan, Derek Holt, Royce Mendes, Ismail Shakil, Steve Scherer, Dale Smith, Emelia Sithole, Mark Porter Organizations: OTTAWA, Bank of Canada, BoC, Statistics, Scotiabank, Desjardins Group, Reuters, Canadian, Employment, Thomson Locations: Statistics Canada, Ottawa

☆ Complex Fund Names May Be a Warning Sign for Investors
▼ + stars: | 2023-07-06 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

Journal Reports: Investing MonthlyIn Retirement, We Have Discovered We Each Need a Cave to Call Our OwnBy Stephen Kreider Yoder , and Karen Kreider YoderWe love to do things together. But we also have made sure to carve out rooms in the house where we can be alone.

Persons: Stephen Kreider Yoder, Karen Kreider Yoder

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