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☆ TikTok CEO doubles down and urges users to get loud and contact senators
▼ + stars: | 2024-03-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Hours after the US House of Representatives voted in favor of the bill by a wide margin, 352 to 65, Shou responded with a video on TikTok urging users to "make your voices heard." The rallying cry follows an earlier TikTok action that prompted users to input their ZIP code in order to identify and contact their representatives in Congress. Share them with your friends, share them with your family, share them with your senators. Over the past week, X users have responded in droves with their all-time favorite clips after @destroynectar asked, "What video is the reason they shouldn't ban TikTok?"

Persons: —, Shou Chew, Shou, TikTok's, Joe Biden, @destroynectar, ITYNCTnThf, Steven Mnuchin — Organizations: Service, Business, Big Tech

☆ For Gen Z, Tough Guys Wear Rings—Lots of Them
▼ + stars: | 2024-01-14 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Terrence McDermott barely has a finger to spare. Each day, the 26-year-old cigar shop assistant manager in Phoenix plops silver rings onto nine of his 10 fingers. His clinky assortment includes a turquoise signet, a ring inspired by late rapper MF Doom and a pinkie ring that he tried on and couldn’t pry off, so he bought it. He’s not yet married, so his sole free digit is his left ring finger.

Persons: Terrence McDermott, MF Locations: Phoenix

☆ Thom Felicia, member of 'Queer Eye' cast, believes that donating bone marrow to his brother was the best thing he has ever done
▼ + stars: | 2023-12-03 | by ( Kelly Burch | ) www.businessinsider.com time to read: +4 min

Ten years ago, he donated bone marrow to save his brother, who had blood cancer. AdvertisementMy brother was diagnosed with a rare blood cancerMy brother, Jules, is about five years older than me. I think everyone should consider bone marrow donationThe donation process was no problem for me. I've found there's a big difference between what people think bone marrow donation is, and what it really is. I am still a registered donor, and I would donate bone marrow to anyone.

Persons: Thom Filicia, —, I'm, Jules, He's, I'd, they'd, I've, Jules hasn't Organizations: Service, Straight, GSK Locations: New York City

Its 2022 annual report, filed on January 19, said the deal desk should review any deals greater than $500,000. SUSE sales growth was slowing at the time. Reuters could not determine if the deal was vetted by the deal desk nor how many deals have been going through the unit. SUSE and Reuters parent company, Thomson Reuters, are involved in litigation over the use of SUSE software products. SUSE claims that Thomson Reuters breached the terms that allegedly governed its use of SUSE software products.

Persons: SUSE, Reuters wasn't, EQT, Melissa Di Donato, Di Donato greenlighted, Di Donato, Eskom, BNY, BNY Mellon, Di, Christian Strenger, Di Donato's, Thomson, Karin Strohecker, Stefania Spezzati, Emma, Victoria Farr, Elisa Martinuzzi, Daniel Flynn Organizations: Microsoft, BMW, Sales, Reuters, Bank of New York Mellon, BNY Mellon, BNY, Corporate Governance Institute, Frankfurt School of Finance & Management, Thomson Reuters, Thomson Locations: Frankfurt

☆ Sri Lanka reaches debt restructuring deal with creditor nations - government source
▼ + stars: | 2023-11-29 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

"Sri Lanka has been informed of an agreement," the source, who did not want to be identified, said. The Sri Lanka president's office and the finance ministry did not immediately respond to requests for comment. Japan co-chairs the official creditor committee, together with France and India. China is Sri Lanka's largest bilateral creditor and is an observer in the group, steering clear of joining the group as a formal member. The ADB's funds are part of a $350 million special policy-based loan that was approved in May to support Sri Lanka.

Persons: Nandalal Weerasinghe, Takafumi Kadono, Sudipto Ganguly, Jacqueline Wong, Kim Coghill Organizations: Reuters, Export, Import Bank of China, International Monetary Fund, Asian Development Bank, World Bank, ADB, Thomson Locations: COLOMBO, Sri Lanka, Japan, France, India, China, Sri Lanka's, Colombo, Sri

☆ Julie Steinberg — Reporter at The Wall Street Journal
▼ + stars: | 2023-11-09 | by ( Julie Steinberg | ) www.wsj.com time to read: 1 min

Julie SteinbergJulie Steinberg is the global metals and mining reporter at The Wall Street Journal. Based in London, she writes about miners of all sizes, the race for natural resources and the energy transition. She previously covered large investors, M&A and banks for the Journal in London, Hong Kong and New York. She earlier reported for FINS.com, the finance career website from The Wall Street Journal. Born in Winnipeg, Canada and raised in South Florida, Steinberg graduated from the University of Pennsylvania.

Persons: Julie Steinberg Julie Steinberg, Steinberg Organizations: Wall Street, Journal, Greensill, FINS.com, University of Pennsylvania Locations: London, London , Hong Kong and New York, Winnipeg, Canada, South Florida

The International Monetary Fund warned on Tuesday of risks posed by China’s financial and property sectors even as it took a more optimistic view on the country’s economic growth. forecast that China’s economy will expand 5.4 percent this year and 4.6 percent in 2024. Each estimate was 0.4 percentage points higher than the fund had predicted four weeks earlier. Gita Gopinath, the first deputy managing director of the fund, said at a news conference in Beijing that the changes reflected stronger economic performance than expected from July through September and recent efforts by Beijing to stimulate the economy. But Ms. Gopinath voiced worries about China’s housing sector, which faces falling prices and sales as well as loan defaults by leading developers.

Persons: Gita Gopinath, Gopinath Organizations: Monetary Fund Locations: Beijing, China

☆ This European biotech company could rally nearly 45%, says Morgan Stanley
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Recent data for cancer treatment manufacturer MorphoSys AG suggests the German biotech's shares could see a significant rally, according to Morgan Stanley. "Despite increasing competition, our updated analysis suggests peak global sales of $1.6bn for pelabresib," analyst James Quigley wrote in a Friday note. "In addition, while some clinical risk remains, the data so far suggests that MANIFEST-2 has a good chance of success, which should drive significant upside in the shares," Quigley said. Shares have sold off nearly 25% since mid-September, compared to the Nasdaq Biotechnology Index down 4% over the same period. MOR XBI YTD mountain MorphoSys vs SPDR S & P Biotech ETF in 2023.

Persons: Morgan Stanley, James Quigley, Quigley, SPDR, — CNBC's Michael Bloom Organizations: MorphoSys, pelabresib, Nasdaq, MF, P Biotech

Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. The analyst said higher deposit rates were potentially being used to limit outflows at Credit Suisse and had been weighing on the bank's ability to bolster revenue. Credit Suisse reported net asset outflows of 39 billion francs in the second quarter. However, UBS said the outflows had slowed down and reversed in June, with Credit Suisse reporting net deposit inflows of $18 billion in the second quarter. UBS's Chief Executive Sergio Ermotti has said he aims to get back the Credit Suisse assets.

Persons: Denis Balibouse, Kian Abouhossein, Abouhossein, Sergio Ermotti, Ermotti, Noele Illien, Stefania Spezzati, Oliver Hirt, Elisa Martinuzzi, Mark Potter Organizations: Credit Suisse, UBS, REUTERS, Rights, Suisse, JPMorgan, UBS's, Thomson Locations: Zurich Switzerland, Raiffeisen, Switzerland

On three-month deposits above $1 million, Credit Suisse will pay 5.88%, the person added. Credit Suisse suffered an exodus of client funds in the first quarter that brought the lender to the brink of collapse. Credit Suisse declined to comment. The rescue, backed by public funds, was designed to prevent Credit Suisse's collapse from triggering a wider banking crisis. Chief Executive Sergio Ermotti said on the day the deal was closed, that around 10% of Credit Suisse employees had left in the run-up to completing the transaction.

Persons: Sergio Ermotti, Stefania Spezzati, Vidya Ranganathan, Elisa Martinuzzi, Tomasz Janowski Organizations: Credit Suisse, UBS, NatWest, Bloomberg News, Credit, Reuters, Thomson Locations: SINGAPORE, LONDON, Asia, Swiss, London, Singapore

Credit Suisse bankers, worried about their future are seeking safer employment at competitors, one person said. Credit Suisse said in April that the bank's "employee attrition has been higher over the last year," and that it had just over 48,000 full-time employees at the end of the first quarter. In an example of competitors poaching Credit Suisse's staff, Santander, Spain’s biggest bank, has hired at least eight bankers from Credit Suisse and was targeting more, Bloomberg News reported this month. UBS management has also said it would set a very high bar when deciding whether to retain any of Credit Suisse's investment banking staff. A banker from Credit Suisse in Zurich told Reuters the lender was in a state of flux, with its investment bank seeing the most staff departures.

Persons: Blick, Colm Kelleher, Noele Illien, Stefania Spezzati, Tomasz Janowski Organizations: Credit Suisse, UBS, . Credit Suisse, Credit Suisse's, Santander, Bloomberg News, Reuters, Swiss Finance Ministry, Thomson Locations: ZURICH, Swiss, Spain’s, Zurich

LONDON, May 18 (Reuters) - Credit Suisse (CSGN.S) came close to falling below minimum levels of cash held at the Swiss central bank days before its forced takeover by UBS (UBSG.S), a regulatory document shows. As of mid-March 2023, Credit Suisse barely reached its internal cash limit at the Swiss National Bank. Credit Suisse was forced into a government orchestrated rescue on March 19. FINMA and Credit Suisse declined to comment. FINMA stated in the decree that a viability event occurred and that Credit Suisse could therefore wipe out the instruments.

☆ Maggie Smith Tries to Make the Divorce Memoir Beautiful
▼ + stars: | 2023-04-27 | by ( Sarah Lyall | ) www.nytimes.com time to read: +2 min

Ms. Smith understands the irony of her situation, of course: that the debacle at home provided material for the book, which in turn gave her new financial security to support herself. The material also gave her the impetus — and the audience — to write a second book. As one friend commented on Instagram when Ms. Smith announced plans to publish “Keep Moving”: “You took those lemons and made lemonade, and then you added MF vodka to it.”Yes, Ms. Smith says in “You Could Make This Place Beautiful” — but. I wrote.”At the church, audience members talked about the rawness and honesty of Ms. Smith’s work, how it feels as if she is speaking directly to them. The more people I send it off to the more chance there is that it will be misconstrued or judged.”

☆ Netflix expands its product ambitions in a clothing collab that mashes up the Lacoste crocodile with 'Bridgerton,' 'Stranger Things,' and more
▼ + stars: | 2023-04-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Netflix has teamed with Lacoste to create a clothing collaboration inspired by eight of its popular shows, including "Bridgerton," "Stranger Things," and "Lupin." For the pieces, Lacoste reimagined its iconic crocodile logo with elements of the Netflix shows on a collection of polos, caps, sweatshirts, and tracksuits. For "Stranger Things," a sweatshirt features the crocodile with the face of the Demogorgon, the feared creature from Season 1. Lacoste apparel inspired by "Stranger Things." NetflixThe items cost $30 to $210 and will be sold at select Lacoste stores and on Lacoste.com and Netflix.shop.

Media coverage of BDO's warning on March 1 prompted immediate questions from financial regulators, a March 6 letter to Reuters from Revolut shows. The letter did not address the banking licence application nor its status. "I would be astonished if the regulators go ahead with the banking licence," he added. Revolut applied for a banking licence about two years ago. With a banking licence, Revolut would become a more established player in the U.K. banking market and be able to draw more customers.

[1/2] A logo of the Swiss bank UBS is seen on the Paradeplatz in Zurich, Switzerland March 21, 2023. Representatives for UBS and Credit Suisse declined to comment. The longer the deal takes to close, the harder it could be for Credit Suisse to hold on to its business. The United Kingdom, where Credit Suisse has $60 billion of risk-weighted assets primarily in its investment banking division, is one of its biggest markets outside of Switzerland. John Glen, chief secretary to the UK Treasury, said last week he did not have any immediate concerns about the execution of Switzerland's Credit Suisse rescue by UBS.

☆ Here are Wednesday's biggest analyst calls: Micron, Meta, McDonald's, Tesla, Apple, Amazon & more
▼ + stars: | 2023-03-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs upgrades Hartford to buy from neutral Goldman the insurance company could "surprise to the upside." Goldman Sachs upgrades Marathon Petroleum to buy from neutral Goldman said the petroleum company has a "best-in-class capital returns story." Bernstein reiterates Apple as market perform Bernstein said it's standing by its market perform rating after Apple debuted Apple Pay Later on Tuesday. Guggenheim reiterates McDonald's as buy Guggenheim says it sees "substantial" near-term and long-term upside for McDonald's. Goldman Sachs reiterates Regions Financial and Fifth Third as buy Goldman said in a note Wednesday that several regional banks are key beneficiaries of the larger bank fallout.

☆ Twitter Blue's relaunch has been financially 'underwhelming' and embarrassed subscribers may soon be able to hide that they're a part of it
▼ + stars: | 2023-03-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Twitter Blue has been relaunched for three months, offering subscribers premium features for $11/mo. A new feature may soon be rolled out, allowing subscribers to hide their verification checkmark. A Twitter Blue subscription costs $8 per month if purchased through the website and $11 per month if purchased through an app for Android or iOS devices. The social platform has aimed to diversify its revenue streams since advertisers fled the platform in the wake of the billionaire's takeover last year. In an attempt to attract more users to Blue, subscribers may be able to toggle the visibility of their blue check marks, The Verge reported.

☆ India's market regulator bars 21 entities in Axis mutual fund front-running case
▼ + stars: | 2023-02-28 | by ( Jayshree Pyasi | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 28 (Reuters) - India's market regulator on Tuesday issued interim orders in a case of alleged front-running at Axis Mutual Fund, while issuing show cause orders to a former mutual fund executive and related entities. The Securities and Exchange Board of India (SEBI) directed that 21 entities be barred from the capital markets until further orders. The regulator conducted a probe in a case of front running in trades of Axis MF between September 2021 and March 31, 2022. The regulator alleged that Joshi conceived a 'fraudulent scheme' in 'collusion' with other 'unscrupulous entities' to front run trades of Axis MF. Further front-running trades were executed from trading accounts of the entities and persons indirectly connected to Joshi.

☆ Breakingviews: Sam Bankman-Fried lacks cover of systemic risk
▼ + stars: | 2022-12-13 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Dec 13 (Reuters Breakingviews) - Sam Bankman-Fried couldn’t be blamed for mulling over past financial scandals with a degree of envy. The former boss of bankrupt crypto exchange-cum-hedge-fund FTX was arrested on Monday in the Bahamas at the request of U.S. prosecutors. No senior executives ended up facing criminal charges, or were hauled off in handcuffs even, though several Libor traders went to jail. loadingCONTEXT NEWSSam Bankman-Fried, the former chief executive of now-bankrupt crypto firm FTX, was arrested in the Bahamas on Dec. 12. The attorney general’s office for the Caribbean state said it took Bankman-Fried into custody after receiving formal confirmation of criminal charges from U.S. prosecutors.

☆ One of Wall Street's toughest shops isn't for the faint of heart. But the rewards are plenty for those who make it to the top.
▼ + stars: | 2022-11-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Apollo Global Management; Yahoo; Brightspeed; Legendary; Alyssa Powell/Insider1. That, in a nutshell, is life at Apollo Global Management. The firm works on a points system that could most easily be described as a profit-share system, Casey told me. In other news:France's Kylian Mbappe celebrates with the trophy after winning the World Cup REUTERS / Kai Pfaffenbach2. You're not just watching the World Cup.

☆ The bulldog lawyer who helped recoup billions from MF Global's bankruptcy says investors burned by FTX may not be so lucky
▼ + stars: | 2022-11-16 | by ( Emmalyse Brownstein | Alex Morrell | ) www.businessinsider.com time to read: +6 min

The bulldog attorney and hedge fund manager says he sees similarities between MF Global and FTX, but also thinks it could be tougher for FTX customers to get their money back. Koutoulas' behind-the-napkin analysis is that FTX customers stand to recoup just 10 cents on the dollar in bankruptcy. But MF Global was also in a much stronger position financially when it filed for Chapter 11 bankruptcy on Halloween 2011. Of course, that does little to help FTX customers who were wiped out. "MF Global went bankrupt.

☆ One professional trader game planned for Alameda's blowup, but it still wasn't enough to protect against FTX's collapse
▼ + stars: | 2022-11-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Sam Bankman-Fried, founder and CEO of crypto exchange FTX. Amid the implosion of crypto exchange FTX, I'm sure many of you had a similar thought creep into your mind. That would be unfathomable that he would do that — even if your prop shop went down, why would you risk a $32 billion exchange business that prints money?" The lake-side castle the New York Yankees legend put on the market four years ago is now reportedly going to auction with an opening bid of $6.5 million. Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief.

☆ How the smart money got fooled by Sam Bankman-Fried: Here's what happened to 2 hedge funds and a trader.
▼ + stars: | 2022-11-14 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +8 min

3 traders tell what drew them to FTX and how they now have money stuck inside it. Wintermute, a large crypto trading firm, stopped trading on FTX, but still had some funds stuck on the US exchange, CoinDesk reported. The three traders who spoke to Insider all acknowledged having some amount of money stuck inside FTX, despite some pretty sophisticated risk management strategies. FTX's collapse was precipitated when FTX sent billions of dollars to Alameda to cover losses, The Wall Street Journal reported. Bankman-Fried may now face charges for wire fraud, the Wall Street Journal reported this week after talking with securities lawyers about how the US laws might apply.

☆ Revived takeover talk boosts Italy's TIM as network deal stalls
▼ + stars: | 2022-10-18 | by ( Elvira Pollina | ) www.reuters.com time to read: +3 min

TIM shares, which last week plumbed an-all time low of 0.1687 euros, rose as much as 10% to 0.1947 euros, with Milan-based traders citing the speculative appeal of a potential bid. TIM this year turned its back on a 0.505 euro non-binding approach by U.S. fund KKR (KKR.N). Separates sources familiar with the matter told Reuters Vivendi also has some reservations about continuing talks with CDP on the network sale on an exclusive basis. The Brothers of Italy party, which leads the right-wing bloc that won the Sept. 25 election, backs the creation of a unified network champion. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elvira Pollina Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

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