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☆ I'm ashamed of taking weight-loss drugs. It took me years to love my body, and now I worry what other people will think.
▼ + stars: | 2024-05-15 | by ( Krista Atkinson | ) www.businessinsider.com time to read: +6 min

If you'd told me 10 years ago I'd feel ashamed of losing weight, I wouldn't have believed you. I've been on a roller coaster of body shame and acceptance since I was 12, which, at times, led to bouts of disordered eating. My primary doctor suggested I try a medical weight loss program, which involves seeing a nutritionist and weight loss doctor monthly, as well as prescription weight loss drugs. I've been scared because of the hurtful commentary and speculation I see online about others losing weight by taking medication. However, I am conscience-stricken for taking weight loss medicine when all I am trying to do is improve my health.

Persons: you'd, I've, I'd, I'm

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Johnson looks to unify GOP with crack down on college campus protests
▼ + stars: | 2024-05-02 | by ( Annie Grayer | Melanie Zanona | ) edition.cnn.com time to read: +9 min

“Anti-Israel protests on college campuses threaten Jewish students,” says the ad, which was shared first with CNN. While supporters of the legislation say it will help combat antisemitism on college campuses, opponents argue it overreaches and threatens to chill free speech. Some Democrats see the new investigative effort into college campuses and Johnson’s recent visit to Columbia University as a divisive political ploy. “Clearly it’s a very high priority for him,” GOP Rep. Frank Lucas of Oklahoma, the chairman of the House Science Committee, told CNN. House GOP Conference Chairwoman Elise Stefanik, who sits on the Education panel, is also expected to play a prominent role in the effort.

Persons: Mike Johnson, Johnson, speakership, ” Johnson, “, ”, Marjorie Taylor Greene, Donald Trump, Nick Fuentes, Pramila Jayapal, Joe Biden, James Comer, Lisa McClain, Biden, “ I’ve, Frank Lucas of Oklahoma, Virginia Foxx, Elise Stefanik, Jim Jordan, Comer, ” Comer, ” CNN’s Haley Talbot Organizations: CNN, Republican, House Democratic, GOP, Louisiana Republican, Columbia University, Democrats, White, Department, Education, International Holocaust, Alliance, Columbia, Michigan, House Education, Workforce Committee, House Science, North Carolina, Yale University, University of California, University of Michigan, House GOP, New York Republican, Science, Republicans, George Washington University, Kentucky Republican Locations: Louisiana, Israel, Marjorie Taylor Greene of Georgia, Lago, Washington, Columbia, University of California Los Angeles, “, Ohio

☆ Medium is cutting more than $500K in monthly cloud spend. More companies could follow suit.
▼ + stars: | 2024-04-22 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

It's not just Stubblebine who plans to continue cutting cloud costs. The cloud industry refers to cost-cutting as "cloud optimization." Last year, cloud providers like Amazon Web Services and Microsoft cited cloud optimization as the reason cloud sales growth had slipped to historic lows. As growth has crept back up in recent months, these same companies have declared the days of cloud optimization to be over. But Stubblebine thinks that cloud optimization is part of a broader mentality shift sweeping the pre-IPO startup world.

Persons: —, Tony Stubblebine, What's, Stubblebine, It's, We're, Ellen Thomas Organizations: Service, Business, Barclays, Amazon Web Services, Savings, Microsoft Locations: Snowflake

☆ Vietnam wants to take China's place as a new factory of the world — but a $12 billion financial fraud case is getting in the way
▼ + stars: | 2024-04-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Vietnamese real-estate tycoon Truong My Lan was sentenced to death for her role in a $12.5 billion fraud case. Lan's fraud case is part of Communist Party Secretary Nguyen Phu Trong's corruption crackdown. Lan, the chairwoman of real-estate developer Van Thinh Phat Group, was arrested in 2022 over the fraud case. AdvertisementThe high-profile fraud case has scandalized the country and is raising questions about the one-party state. For context on the scale of the Vietnam fraud case, consider the 1MDB case, which rocked Malaysia and the world when it started to unravel in 2015.

Persons: Truong, Lan, Communist Party Secretary Nguyen Phu, —, Van Thinh, Zachary Abuza, Trang Bui, Bui Organizations: Communist Party Secretary, Service, Prosecutors, Vietnamese Communist Party, National War College, Washington DC, Bloomberg, Cushman, Nikkei Locations: Vietnam, China, Malaysia, Malaysian, Hanoi, Washington, Wakefield

☆ Letitia James is not done with Donald Trump. Now she wants to know if he withheld evidence in her fraud case.
▼ + stars: | 2024-04-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

Letitia James won a $454 million judgment against Trump, his penalty for a decade of fraud. She and Trump are now fighting over her claims that he withheld evidence from her fraud probe. "The Court is well within its authority to determine if Defendants and their counsel facilitated that perjury by withholding of incriminating documents," James argued in Tuesday night's letter. AdvertisementAt a hearing in April of 2022, he compared getting Trump's documents to "pulling teeth." Out of some 900,000 documents turned over, only ten were "custodial" Trump documents, meaning business files in the former president's direct custody.

Persons: Letitia James, Trump, James, —, Allen Weisselberg, Weisselberg, Arthur Engoron, Barbara Jones —, Bracewell, Barbara Jones, Drew Angerer, Kevin Wallace, Clifford Robert, Jones, they're, Wallace, Alina Habba, Marc Frazier Scholl, Scholl, Lewis Baach Kaufmann Middlemiss Organizations: Service, New, Trump, Trump Organization, Trump Org, Forbes, Engoron, Business, NY, General's, Manhattan, Attorney's Office Locations: New York, Manhattan, York

☆ Twilio board shakeup prompts renewed activist scrutiny
▼ + stars: | 2024-04-04 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

On Monday, Twilio announced a settlement with Sachem Head, an activist investor whose involvement in the company had been previously unreported. The agreement resulted in Twilio, which sells communications software, giving a board seat to Andy Stafman, a partner at Sachem Head. Two days later, Twilio said Byron Deeter, a prominent venture capitalist and early investor in the company, would be leaving the board. On March 11, less than a week after Twilio concluded the review, Sachem Head told the company it planned to nominate board candidates. "This issue remains relevant despite Mr. Deeter's departure given the continued directorship of another Bessemer partner," Gupta said.

Persons: Twilio, Jeff Lawson, Anson, that's, Andy Stafman, Byron Deeter, Sagar Gupta, Gupta, Lawson's, Legion, FactSet, Lawson, Sachem, Stafman, Deeter, Bessemer, Jeff Epstein Organizations: Anson Funds, Sachem, Board, Nasdaq, Legion Partners, CNBC, Bessemer Locations: Twilio, Europe, Anson, Bessemer

☆ Jon Stewart rips into Apple, his old boss, on The Daily Show
▼ + stars: | 2024-04-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Jon Stewart on “The Daily Show” Monday revealed what led to his abrupt exit from Apple and the cancellation of his short-lived show on its streaming TV platform. Stewart said that the tech giant prohibited from discussing artificial intelligence or interviewing Federal Trade Commission chair Lina Khan. Stewart and Khan discussed Big Tech monopolies, after the US Justice Department and more than a dozen states sued Apple last week in a blockbuster antitrust lawsuit that accused Apple of illegally monopolizing the smartphone market. Stewart said he had his own issues with Apple, telling Khan that he wanted to have her on the TV show’s companion podcast and “Apple asked us not do it.”“They literally said ‘please don’t talk to her,’” Stewart said. “The Problem with Jon Stewart” ran for two seasons from 2021 to 2023 on Apple TV+.

Persons: Jon Stewart, Stewart, Lina Khan, Khan, Apple, “ Apple, ”, ’ ” Stewart, “, Jon Stewart ”, Trevor Noah Organizations: New, New York CNN, Apple, Federal Trade Commission, Comedy, Big Tech, US Justice Department, FTC, Amazon, Justice Department, Caesars Entertainment, CNN Locations: New York, China, Israel

☆ Samsung says it needs to 'redefine' its voice assistant Bixby with generative AI upgrade
▼ + stars: | 2024-04-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

"So Bixby has been a key voice assistants voice assistant for Samsung not just for the mobile devices, but also for TVs and digital appliances that exist in Samsung's ecosystem. So it has been the core voice assistant assistant so far," Won-joon Choi, executive vice president at Samsung's mobile business, told CNBC in an interview last month. Choi did not give a timeline when Bixby may get generative AI features, but said that Samsung is "working so hard" to deliver them. Samsung's focus on the technology comes at a time when investors are scrutinizing what Apple will deliver when it comes to generative AI. Apple announced it would hold its annual developers conference, WWDC, in June, when the company is largely expected to talk up some AI features across its products.

Persons: SeongJoon Cho, Bixby, Samsung's Bixby, joon Choi, Choi Organizations: Samsung Electronics Co, Samsung, Bloomberg, Getty, CNBC, Galaxy, Google, Apple Locations: Seoul, South Korea

☆ Trump complains in latest hush-money delay bid that Manhattan already thinks he's guilty, and Michael Cohen keeps saying 'Donald von Shitsinpants'
▼ + stars: | 2024-03-30 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

This eleventh-hour effort to push back Trump's April 15 trial date is the latest of a half-dozen such requests since August. Bad polls, bad pressManhattan is not Trump country, the defense delay motion notes. AdvertisementPollsters surveyed a sample of 400 Manhattan residents, the delay motion says. Trump's motion implies that those sources were, or involved, Bragg, ignoring that the stories could have been sourced through multiple other individuals, including court staff, witnesses, and attorneys for witnesses. Advertisement"President Trump cannot get a fair trial in Manhattan County right now," the delay motion concludes, asking for unspecified adjournment "until prejudicial press coverage abates."

Persons: —, Donald, Trump's, Juan Merchan, It's, Trump, They've, pollsters, Michael Cohen, Cohen, Donald von shitsinpants, Donald Van, Donald Trump's, Says, Donald Trump, Eduardo Munoz, Stormy Daniels, Daniels, Stephanie Clifford, She's, Peacock, Norm, DONALD J, Matthew Colangelo, Colangelo, Juan Merchan AP, Seth Wenig, Merchan, Bob Moore, Jeb Bush's, Alvin Bragg Craig Ruttle, Attorney Alvin Bragg, Allen Weisselberg, Bragg Organizations: Service, New, Business, GOP, Defense, Moore Information Group, York County Clerk's, Trump fixer, Twitter, New York County Clerk's, FBI, REUTERS, Trump, Prosecutors, Moore, National Republican Senatorial Committee, Manhattan, Attorney, Trump Organization Locations: Manhattan, York County, New York County, New York City, U.S, Trump, Manhattan County

NEW YORK (AP) — The Federal Trade Commission is investigating TikTok over its data and security practices, a probe that could lead to a settlement or a lawsuit against the company, according to a person familiar with the matter. In its investigation, the FTC has been looking into whether TikTok violated a portion of federal law that prohibits “unfair and deceptive” business practices by denying that individuals in China had access to U.S. user data, said the person, who is not authorized to discuss the investigation. FTC spokesperson Nicole Drayton and TikTok declined to comment on the investigation, which was first reported by Politico. The agency is nearing the conclusion of its investigation and could settle with TikTok in the coming weeks. Lawmakers and intelligence officials have said they worry the platform could be used by the Chinese government to access U.S. user data or influence Americans through its popular algorithm.

Persons: TikTok, Nicole Drayton, there’s, Mark Warner, Marco Rubio, Lina Khan, ByteDance, hasn’t Organizations: Federal Trade Commission, FTC, Politico, TikTok, Justice Department, Republican, Buzzfeed, Buzzfeed News, The Financial Times, Senate Locations: Washington, U.S, Beijing, China

☆ Boeing needs to be led by engineers, time is not on its side, Emirates Airline president says
▼ + stars: | 2024-03-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Boeing needs to be led by engineers if it wants to pull itself out of its current crisis, Tim Clark, the president of Emirates Airline, said in comments Wednesday. "To fix Boeing's issues the company needs a strong engineering lead as its head coupled to a governance model which prioritizes safety and quality," said Clark, who leads Dubai's flag carrier Emirates. Aviation analysts and former Boeing employees have criticized the company's reported sidelining of engineers in its senior management ranks. Boeing CEO Dave Calhoun will also step down at the end of 2024. "Whether, yet again, this changing of the guard will resolve Boeing's issues only time will tell, but time, unfortunately, is not on their side," Clark said.

Persons: Tim Clark, Max, Clark, Stan Deal, shakeup, Stephanie Pope, Dave Calhoun Organizations: Boeing, Emirates Airline, Alaska Airlines, Federal Aviation Administration, Justice Department, FAA, Max, Emirates, Machinists, Aviation, CNBC

☆ I haven't used a clock in years. I can focus better and use calendar notifications to tell me where to be.
▼ + stars: | 2024-03-22 | by ( Megan B. Wells | ) www.businessinsider.com time to read: +4 min

I'd watch the clock and count the minutes until I got to do things such as eat lunch. It wasn't healthy, so I removed all the clocks around me and could focus more. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I checked how long I'd been working on a particular task and whether I could justify switching focus or stopping. The author taped over appliances that didn't allow her to remove the clock, such as her oven.

Persons: —, I'd, it's Organizations: Service, Electronics Locations: —

☆ Currency market subdued ahead of fresh U.S. economic data
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +3 min

The currency market was sedate on Thursday, with the U.S. dollar consolidating against major peers as market players awaited more data out of the world's largest economy for clues on the direction of Federal Reserve policy. With the Fed widely expected to hold rates steady at its meeting next week, attention will be on the bank's updated economic projections. The dollar index , which measures the greenback against a basket of six currencies, was mostly flat at 102.77. Sources told Reuters that Japan's central bank will debate ending negative rates next week if big firms' wage talks yield strong results. Elsewhere, the euro was holding steady against the dollar at $1.0949, ahead of remarks by several European Central Bank officials on Thursday.

Persons: Kyle Rodda, Jerome Powell, Sterling, bitcoin Organizations: U.S, Federal Reserve, Fed, U.S ., PPI, Bank, Reuters, European Central Bank Locations: Buenos Aires, Argentina, U.S

☆ Animals act weirdly during an eclipse. Help NASA find out why
▼ + stars: | 2024-03-13 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +11 min

We’re hoping that we even get kids watching their dogs in their backyard and seeing if their dogs behave interestingly during the eclipse,” Hartstone-Rose said. The next total solar eclipse that will be visible across the contiguous United States won’t appear until August 2044. The space agency is expecting far larger numbers for the 2024 total solar eclipse — nearly 2,500 people have already signed up, she added. “(During a total solar eclipse) you have so many different ways the light is scattering, so there’s these beautiful colors of orange and purple and green. “It’s kind of a great human sensory experience to be in the middle of a total solar eclipse.”

Persons: ”, Adam Hartstone, Rose, Hartstone, “, that’s, Kelsey Perrett, United States won’t, Bryan Pijanowski, ’, Pijanowski, William M, Wheeler, John Griffioen, Griffioen, Perrett, ” Perrett, ” Pijanowski Organizations: CNN, American, North Carolina State University, Nashville Zoo, Solar, Fort Worth Zoo, NASA, Center, Purdue University, Buffalo Zoo, Zoo, Toledo Zoo, Indianapolis Zoo Locations: Columbia , South Carolina, United States, Raleigh, “, Grassmere, Mexico, Canada, Texas, North America, West Lafayette , Indiana, Fort, New York, Arkansas, Ohio

☆ Lawmakers are demanding answers from SpaceX over claims that Starlink is being used in Russia
▼ + stars: | 2024-03-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Lawmakers are scrutinizing claims that SpaceX's Starlink service is being used in Russia. House Democrats questioned how the company was preventing the use of Starlink in the country. AdvertisementHouse Democrats are probing Elon Musk's SpaceX over accusations that Starlink is being used in Russia. Robert Garcia and Jamie Raskin also sent a letter to Musk's company demanding transparency over any potential purchases or usage of the satellite internet system in Russia. This story is available exclusively to Business Insider subscribers.

Persons: Elon Musk, —, Elon, Robert Garcia, Jamie Raskin Organizations: Democrats, Service, SpaceX, Business Locations: Russia

☆ Amazon's secret war on Android: The company has a plan to cure Alexa's addiction to Google's operating system.
▼ + stars: | 2024-03-06 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

Amazon's Alexa division is cutting costs across the board, having laid off thousands of employees and reshuffled projects over the past 18 months. Vega is a "new portable operating system for consumer electronics developed by Amazon," the document explained. Tech newsletter Lowpass previously reported on some parts of the new Vega OS. Feature parity gapThe feature parity gap between Amazon's own Alexa devices and third-party voice-assistants using Alexa has long been a problem, both internally and externally, according to the people familiar. Not off Android entirelyWith the new Vega OS, Amazon is reducing its reliance on the Android-based Fire OS.

Persons: Panos Panay, Andy Jassy, Jeff Bezos, Vega, Dave Limp, Alexa, It's Organizations: Alexa, Business, Software, BI, Amazon, Amazon's, Tech, Google, Blue, Washington Post, Vega

☆ The New York Times stands by its reporting on the Hamas terror attack after questions are raised
▼ + stars: | 2024-03-01 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The New York Times is facing questions about a sweeping investigative story it published on the Israel-Hamas war back in December. But key elements of The Times’ reporting in telling that larger story have since fallen under the microscope. “We weren’t aware of the rape initially; we were informed only when The New York Times’ journalist approached us,” her mother told the Israeli outlet YNet. we don’t know exactly what happened.”“It was only following the New York Times investigation that we learned from the journalists that my sister had been raped,” Abdush’s brother added to YNet. In this case, there is a large volume of evidence to indicate that Hamas carried out sexual assaults during the October 7 attack.

Persons: ‘, —, Jeffrey Gettleman, Anat Schwartz, Adam Sella, Schwartz, “, Gal Abdush, ” Abdush, Jeremy Scahill, Ryan Grim, Daniel Boguslaw, ’, Abdush’s, ”, Gal, Boguslaw, Grim, Gray, Charlotte Klein Organizations: New York CNN, The New York Times, CNN, The, Pulitzer, Times, The Times, New York Times, YNet Locations: New York, Israel, Gaza

☆ A Doctor’s Lifelong Quest to Solve One of Pediatric Medicine’s Greatest Mysteries
▼ + stars: | 2024-02-27 | by ( Emily Baumgaertner | Ariana Drehsler | ) www.nytimes.com time to read: +1 min

This one was from the heart of a 20-year-old jujitsu fighter who was last seen at the gym and was found dead in his bed two days later. The blood vessel tissue on the slide looked abnormal. Dr. Burns turned to the examiner: “I think this was likely one of mine.”Dr. Burns is an expert in a rare childhood illness called Kawasaki disease, which is the most common cause of acquired heart disease in children worldwide. It is also one of pediatric medicine’s greatest mysteries: No one knows what causes it. And Dr. Burns, who leads the investigations at the University of California San Diego’s Kawasaki Disease Research Center, has devoted her life to solving that mystery.

Persons: Dr, Jane Burns, Burns Organizations: CSI, University of California San, Kawasaki Disease Research Locations: San Diego County

☆ Here’s why a SCOTUS ruling on social media rules matters to so many people
▼ + stars: | 2024-02-27 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

It’s obvious enough that the legislation would affect those social media giants, who are challenging the laws’ constitutionality through industry trade associations. But in scrutinizing the laws’ scope and First Amendment impacts, justices from both sides of the ideological spectrum worried Monday that the legislation’s effects could spill far beyond major social media platforms. “We’re talking about the classic social media platforms, but it looks to me like it could cover Uber. Social media applications are seen on an iPhone in this photo illustration taken on 10 November, 2023 in Warsaw, Poland. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) Andrew Caballero-Reynolds/AFP/Getty ImagesThat law permits social media users to try to sue platforms for violations.

Persons: CNN — Uber, —, Henry Whitaker, “, ”, Amy Coney Barrett, Sonia Sotomayor, Whitaker, Jaap Arriens, ” Whitaker, Sotomayor, Ketanji Brown Jackson, “ I’m, ” Jackson, Uber, Aaron Nielson, Barrett, ” Sotomayor, ” Nielson, ” Chris Marchese, ANDREW CABALLERO, REYNOLDS, Andrew Caballero, Reynolds, Neilson, ” Barrett, you’ve, Elena Kagan, you’re, Kagan Organizations: CNN, Facebook, YouTube, Web, LinkedIn, NetChoice Litigation, AFP, Getty, Texans, PayPal Locations: Texas, Florida, Warsaw, Poland, ” Texas, ”, Washington , DC, AFP, El Paso

☆ Macy’s posts another quarter of falling sales as it unveils strategy to get back to growth
▼ + stars: | 2024-02-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Macy's on Tuesday said sales fell nearly 2% in the holiday quarter, as the 166-year-old department store operator unveiled its strategy to get back to growth. Macy's plans to close about 150 unproductive locations and to prioritize investing in about 350 other namesake locations. In the fiscal year that starts in early 2025, Macy's said it expects low-single digit comparable sales growth on an annual basis, including owned, licensed and marketplace sales. The namesake store's comparable sales on an owned-plus-licensed basis dropped by 4.7%, as the women's shoes and cold weather apparel and accessories categories struggled. At Bloomingdale's, comparable sales declined 1.6% on an owned-plus-licensed basis, as the men's and designer handbag businesses came in soft.

Persons: Spring, Tony Spring, Macy's, Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, LSEG, Revenue Locations: New York City, Macy's

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

☆ Texas man guilty of making $1.8M after eavesdropping on his wife's work calls as they worked from home
▼ + stars: | 2024-02-24 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Read previewA Houston man has pleaded guilty to insider trading after he made $1.76 million in illegal profits after listening in on his wife's work calls as they worked from home. AdvertisementThe regulator said that Loudon purchased 46,450 shares of TravelCenters stock without his wife's knowledge before the deal was announced. It alleged that he "took advantage of his remote working conditions and his wife's trust to profit from information he knew was confidential." He told her he did it because he didn't want her to work long hours anymore, said the SEC complaint. The SEC noted that Loudon had not denied the allegations and had agreed to a partial judgment subject to court approval.

Persons: —, Tyler Loudon, Alamdar, Hamdani, Loudon, scrutinizing, didn't Organizations: Service, BP, Business, Securities, Exchange Commission, SEC Locations: TravelCenters, Loudon

☆ EY and Deloitte are scrutinizing staff workloads and quietly letting some workers go
▼ + stars: | 2024-02-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now they’re scrutinizing employee workloads and letting go of "underemployed" staff, The Times of London reported . EY told Business Insider in a statement that it has "well-established performance management processes" that look at a variety of metrics. The Big Four firms, which include EY, Deloitte, PWC, and KPMG, have cut hundreds of jobs in the past year amid a challenging economic climate. It recently gave 3,000 staff poor performance reviews , which are internally known as "concerns," according to Bloomberg .

Persons: —, workloads, EY Organizations: Service, Deloitte, Big, Times, EY, PWC, KPMG, Consulting, McKinsey, Bloomberg Locations: London

☆ $100,000 of goods were stolen from Home Depots across Florida in an organized self-checkout barcode switching scheme, the state's attorney general says
▼ + stars: | 2024-02-20 | by ( Grace Dean | ) 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. Read previewThree people are facing grand theft charges after more than $100,000 of goods were stolen from Home Depot stores in Florida by swapping out the barcodes for lower-cost items at self-checkouts, the state's attorney general said. On Home Depot's website, the roof sealer currently retails at $119 for a 0.9-gallon bucket or $349 for a 4.75-gallon bucket. Moody's Office of Statewide Prosecution charged Popat with one count of grand theft over $100,000, and Abad and Baglin with one count of grand theft over $20,000. Now, this group faces our Statewide Prosecutors and time in prison, where I can promise there is no self-checkout line."

Persons: —, Ashley Moody's, Vicky Popat, Christopher Abad, Christopher Eduardo Baglin, Henry 887 Tropi, Abad, Moody Organizations: Service, Home Depot, Statewide, Business, Statewide Prosecution, Depot, Statewide Prosecutors, Midwest Locations: Florida, Home, South, Central Florida

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