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☆ Binance's Zhao flags possible $1 billion for distressed assets- Bloomberg News
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

Nov 24 (Reuters) - Cryptocurrency exchange Binance is aiming for a roughly $1 billion fund for the potential purchase of distressed assets in the digital sector, Bloomberg News reported on Thursday, citing an interview with Chief Executive Officer Changpeng Zhao. Zhao hinted at the possibility of allocating more funds in the interview. read moreHe said such a fund would help "reduce further cascading negative effects of FTX" without giving an exact figure for the fund. The crypto market is teetering after the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States. Several crypto firms have been bracing for the fallout from the FTX collapse, with many counting their exposure to the exchange in millions.

☆ Rail workers are 'enraged' and feel 'mistreated,' says a union president. It could end in a holiday season strike that would send shockwaves through the US economy.
▼ + stars: | 2022-11-22 | by ( Hannah Towey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Rail workers might go on strike in December, potentially rattling the supply chain and the whole economy. BLET narrowly voted to ratify an agreement with management, but another major union voted to reject. Ultimately, if any union goes on strike, other rail unions likely will not cross the picket line. Rail workers voted in record numbers after feeling "alienated," "enraged," and "mistreated, all for the sake of profit"The Transportation Division of Sheet Metal, Air, Rail, and Transportation Workers (SMART-TD), which has over 28,000 eligible voting members, narrowly voted down the proposal. If any union does strike, Pierce said, "no other union is going to cross that picket line in the railroad biz."

☆ How Caroline Ellison Found Herself at the Center of the FTX Crypto Collapse
▼ + stars: | 2022-11-20 | by ( Hannah Miao | Justin Baer | ) www.wsj.com time to read: 1 min

On a video call in early November, employees at Alameda Research dialed in to learn the fate of the trading firm, which was teetering on the brink. It was up to Caroline Ellison to deliver the bad news. Alameda was at the center of Sam Bankman-Fried ‘s collapsing FTX empire. Ms. Ellison, who had just turned 28, was at the center of Alameda. And they were all in crisis.

☆ Is the Fed 'going rogue'? Calls heat up to back off quest for 2% inflation
▼ + stars: | 2022-11-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

For at least a decade, the Federal Reserve's position that a 2% inflation rate is where the economy best functions has been taken as gospel. 'Going rogue' "As far as 2% is concerned, I think it's stupid," said Jim Paulsen, chief investment officer at Leuthold Group. Paulsen and Sternlicht aren't the only critics of Fed policy. Achieving a steady 2% inflation rate, however, has proven elusive for the Fed. 'The gold standard' for policy But Fed Chairman Jerome Powell and most of his colleagues have rebuffed calls to raise the goal.

☆ This is the math equation that 'makes you or breaks you' in a marriage, says love researchers John and Julie Gottman
▼ + stars: | 2022-11-12 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

John and Julie Gottman are renowned clinical psychologists and researchers who've dedicated decades to finding out why some marriages last and others sour. The two have interviewed more than 3,000 couples and followed some for as long as 20 years. They have also studied more than 40,000 couples who are about to begin couples therapy. "We watched couples, logged the data, then released them back into the wild," they write. during conflict who were still happily together, still feeling the love."

☆ Hurricane Nicole leaves trail of destroyed and teetering beachside homes along Florida coast
▼ + stars: | 2022-11-11 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

Russia announced the completion of its withdrawal from the strategic city of Kherson in southern Ukraine and a regional official said Ukrainian partisans had raised a flag there, but that many Russian troops had been unable to leave.

☆ Morning Bid: Disinflation stations
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +4 min

A year ago, the prospect of a 7.7% annual inflation rate 12 months on would have been shocking. As world markets everywhere rose in sympathy, those Wall St gains appear to be holding at least on Friday. The swoon in U.S. Treasury yields and the dollar was probably even more significant, with two-year yields recording their biggest one-day drop since 2008 and the dollar its deepest fall since 2015. Although Bitcoin managed to bounce with all world markets, it's struggled to keep a foothold back above $17,000 on Friday and is still nursed losses totalling 17% this month alone. University of Michigan November sentiment and inflation expectationsUS inflation, Fed rates and marketsReuters GraphicsReuters Graphics Reuters GraphicsReuters GraphicsBy Mike Dolan, editing by Angus MacSwan <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

[1/2] A street sign lies on the ground following the passage of Hurricane Nicole in Merritt Island, Florida, U.S. November 10, 2022. “The structural damage along our coastline is unprecedented,” Volusia County Manager George Recktenwald said in a statement. Nicole's storm surge also caused the collapse of parts of the scenic A1A highway, which runs along the Atlantic coast in Volusia County, sheriff's officials said. Hurricane Kate came ashore near Mexico Beach, Florida, on Nov. 21, 1985, said Philip Klotzbach, a hurricane expert at Colorado State University, on Twitter. The Atlantic hurricane season officially runs from June 1 to Nov. 30.

☆ Crypto's Lehman moment: Here's how Sam Bankman-Fried's FTX compares to the biggest collapse of the Global Financial Crisis
▼ + stars: | 2022-11-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Experts have drawn comparisons between the collapse of crypto exchange FTX and the fall of Lehman Brothers in 2008. Here's how the two events compare and what FTX's fall means for the broader financial system. In the years leading up to the Great Financial Crisis, Lehman loaded its balance sheet with vast amounts of subprime mortgage debt. When the "bank run" began this week, FTX didn't have the funds to meet withdrawal requests. But compared to 14 years ago, it probably won't be FTX's downfall that sparks a broader financial crisis, Allen said.

☆ The Murdoch-owned New York Post, which long championed Donald Trump, mocks 'Trumpty Dumpty' for failing to put the GOP 'back together again'
▼ + stars: | 2022-11-10 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

The New York Post depicted Donald Trump as a nursery-rhyme character for its Thursday cover. Many Republicans saw the midterm results as a stunning rebuke of Trump's supposed hold on the GOP. The cover was shared by New York Times correspondent Maggie Haberman, a former New York Post reporter herself. At the time, The Post's editorial board wrote that Trump would bring back "explosive job creation, rising wages and general prosperity" prior to the pandemic. Piers Morgan, the controversial British journalist who joined The Post as a columnist in 2021, authored the cover story.

FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. A message on the FTX website said: "FTX is currently unable to process withdrawals. "The dagger will continue to hang over the crypto market, as long as the outlook of FTX's fate remains unclear." 'CONFIDENCE CRISIS'There are also early signs that the fallout could spread beyond crypto markets, with jittery stockmarkets sliding on Wall Street overnight. Most crypto players remain bullish about the long term, but are braced for further falls in the near future.

Patrick Pleul/Getty Images; Vicky Leta/InsiderLate Thursday, Elon Musk began his much-anticipated mass layoffs at Twitter. The layoffs are part of a new culture that Musk has unleashed at the company. But now, this person said, the company's new workaholic culture is "psychologically unsafe" and has "Elon's stamp all over it." How Gen Z is shaping the workplace. They're happier, they have a lot more confidence, and they feel like they're able to conquer a lot more than before."

☆ For survivors of Ethiopia's Tigray war, truce brings cautious hope
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +4 min

"I'm very happy - because this will put a hold on the suffering," said a Tigrayan man in Ethiopia's capital Addis Ababa who declined to be named out of fear of repercussions at his place of work. All sides fighting in the Tigray war committed violations that may amount to war crimes, according to a joint investigation by the United Nations and Ethiopia's state-appointed human rights commission. We haven't even gotten any voice messages from him," the Tigrayan man in Addis Ababa told Reuters. Human Rights Watch, citing witnesses, said 23 civilians were killed by Tigray People's Liberation Front (TPLF) fighters in Kobo at that time. Just, literally everything," said Andom Gebreyesus, who ran a tour company in Tigray before the war.

☆ Russia: West must stop 'encouraging provocations' to avoid nuclear disaster
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - Russia said on Wednesday that avoiding a nuclear clash between the world's nuclear powers was its first priority, but accused the West of "encouraging provocations with weapons of mass destruction". The Russian Foreign Ministry said it feared the five declared nuclear powers were teetering "on the brink of a direct armed conflict" and that the West must stop "encouraging provocations with weapons of mass destruction, which can lead to catastrophic consequences". Moscow said it stood by a joint declaration issued together with the United States, China, Britain and France in January affirming their joint responsibility for avoiding a nuclear war. In September, Putin said he was "not bluffing" when he stated that Russia was prepared to use "all available means" to defend its territory. Shortly afterwards, Ramzan Kadyrov, leader of the Chechnya region and a key ally of Putin's, called for Russia to use a "low-yield nuclear weapon" in Ukraine.

The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI fell to 50.2 in October from 50.9 in September. China's Caixin/S&P Global manufacturing PMI stood at 49.2 in October, up from 48.1 in September. The private sector survey was in line with an official PMI released on Monday that showed China's factory activity unexpectedly fell in October. Japan's au Jibun Bank Japan Manufacturing PMI fell to 50.7 in October from September's 50.8 final, marking the weakest growth since January last year. India was an outlier with factory activity expanding at a stronger pace in October as demand remained solid.

☆ China's alarming decline could tank the stock market, take down the global economy, and spark a dangerous showdown with the US
▼ + stars: | 2022-10-30 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

In the Western capitals and boardrooms, it appears the horror of Beijing's transformation has finally settled in, and the lure of China's economic future is fading. Economic dangerIf you want a clue to just how far China's economy has fallen, look no further than Beijing's attempts to hide information about the country's growth. Beyond the short-term signs of trouble, there are more enduring signs pointing to China's economic distress. That's a big if, and even if Beijing is successful, the slow-moving blob of debt will choke off economic growth for years to come. Xi has tightened his grip on China's economy and government from education to public health.

☆ Brazil's presidential election may determine the fate of the Amazon rainforest — and the entire planet's climate
▼ + stars: | 2022-10-29 | by ( Morgan Mcfall-Johnsen | Paola Rosa-Aquino | ) www.businessinsider.com time to read: +8 min

An aerial photo shows virgin Amazon jungle in Mato Grosso State, Brazil, on May 18, 2005. An aerial view of logs cut from Amazon rainforest near of the road BR-319 highway in city of Realidade, Amazonas state, Brazil, on August 22, 2019. Ueslei Marcelino/ReutersBolsonaro promises to increase deforestation in the Amazon, while Lula promises to slow it. But it's also the most consequential election on the planet," Christian Poirier, program director at the advocacy group Amazon Watch, told Insider. A miner works in an illegal gold mine at an environmental preservation area in the Amazon rainforest, in Itaituba, Para state, Brazil on September 3, 2021.

☆ One graph shows how Brazil's election could speed up destruction of the Amazon rainforest — and imperil the planet
▼ + stars: | 2022-10-28 | by ( Paola Rosa-Aquino | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

Brazil's President Jair Bolsonaro faces former President Luiz Inacio Lula da Silva in a runoff election on October 30. The outcome of the election may determine the fate of the Amazon rainforest. The fate of the Amazon rainforest — the planet's largest — is on the ballot. Under Bolsonaro, Brazil has cleared large swaths of the Amazon rainforest for farmland, accelerating deforestation there. MICHAEL DANTAS/AFP via Getty ImagesAbout 60 percent of the Amazon rainforest is located in Brazil.

That's not the done thing," a senior French official said. "The goal is to make Berlin understand there's a problem," the senior French official said. We even struggled to get them to meet in person," the French official said. German officials say that they are aware they need to reduce their reliance on China, but they add that this should not mean banning all Chinese investment in Europe. read moreGerman officials say France had been invited to join but declined.

It's possible to buy a home when all or most of your income comes from disability benefits or insurance. In the eyes of a mortgage lender, disability income is basically viewed like any other income, with one exception that can work in your favor (more on that in a minute). How to qualify for a mortgage with disability incomeWhen using disability income to qualify for a mortgage, you'll go through the same process as any other borrower. The challenges of buying a house using disability benefitsIf you're only receiving short-term disability benefits, you'll likely have a harder time using that income to qualify for a mortgage. Beware of mortgage discriminationLenders can't refuse to consider disability benefits income, and they can't treat you differently because of your disability or your disability income.

☆ Kanye West's antisemitic rants are the tip of a much longer spear
▼ + stars: | 2022-10-25 | by ( Tal Lavin | ) www.businessinsider.com time to read: +9 min

Recent comments by Kanye West, now known as Ye, echo ancient antisemitic tropes, writes Tal Lavin. Over on Instagram, where I'd posted a picture of me cuddling a goat, someone commented: "Kanye West was right about you people." But these sentiments are just the tip of a much longer spear. Ye's comments in particular echo a very long history of antisemitic tropes — tropes that have left a trail of blood in their wake. On "Drink Champs" Ye spit into the mic about the evils of the "Jewish media."

☆ Europe's neobrokerage startups face winter of cuts and consolidation as trading volumes slump and VC funds dry up, industry sources say
▼ + stars: | 2022-10-24 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Europe's neobrokerage startups face cuts and consolidation as funding dries up, sources say. For startups that can't fundraise it's "shoulders against the wall," one investor told Insider. Europe's brokerage startups are facing a winter of job cuts and consolidation as the sector battles with slumping trade volumes and a scarcity of investor cash, industry sources say. The drop-off has made raising funds a difficult exercise for many fintechs and has also led to a bifurcation in the market of the "haves and the have-nots," one London-based investor told Insider. Market consolidation will be driven by price, one fintech fund partner told Insider.

☆ Could Boris Johnson be next U.K. prime minister? Liz Truss replacement race is on
▼ + stars: | 2022-10-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +9 min

Some Conservative lawmakers have suggested they may even quit the party if Johnson wins. “His manipulation of the Conservative Party, his dishonesty and boosterism were all designed to cloak the absence of any realistic policies. Sunak commanded the support of more Conservative lawmakers than Truss, but lost out in the final members’ vote. But he is viewed as responsible for Johnson’s downfall by some allies of the former prime minister, who are unlikely to cheer a Sunak premiership. Starmer, the Labour Party leader, would be the clear favorite to be prime minister if an election were held any time soon.

☆ Morning Bid: Truss drama deepens
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Anshuman DagaBritain's political drama keeps getting more and more interesting. The abrupt resignation of Britain's interior minister Suella Braverman, who criticised Liz Truss, reflects the continued erosion of the prime minister's authority after just weeks in the job. And as markets watch the political chaos, there seems to be no respite for the beleaguered pound. The yen has depreciated by about 23% so far this year, making it the weakest major currency in Asia. Asian stocks headed down on Thursday, taking a cue from rising yields and cutting short a brief rally that was triggered by strong earnings reports by U.S. and European companies.

☆ ‘Recession? What Recession?’ Say U.S. Air Travelers
▼ + stars: | 2022-10-13 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

Delta Air Lines reported adjusted revenue 11% higher than during the same period of prepandemic 2019. Economists agree that the U.S. is teetering on the edge of recession. Someone forgot to tell air travelers. On Thursday, Delta Air Lines the first big carrier to release third-quarter earnings, reported adjusted revenue of $12.8 billion, which were 11% higher than during the same period of prepandemic 2019. Earnings were slightly below what Wall Street expected, but guidance suggesting that travel demand remains extraordinarily strong led shares of all U.S. carriers to shoot up.

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