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April 19 (Reuters) - U.S. economic activity was little changed in recent weeks as employment growth moderated somewhat and price increases appeared to slow, according to a Federal Reserve report published on Wednesday. Several Fed districts noted that banks tightened lending standards amid increased uncertainty and concerns about liquidity, the report showed. In the San Francisco Fed district, where failed Silicon Valley Bank was located, "lending activity fell significantly in recent weeks amid higher interest rates and elevated uncertainty in the banking sector," the report said. "Banking contacts reported some movement in deposits but little change in credit availability following the collapse of Silicon Valley Bank," the Chicago Fed said. The Fed report noted that inflation pressures had moderated but remained widespread.

☆ A Wrench Thrown Into Capitalism
▼ + stars: | 2023-04-17 | by ( Andy Kessler | ) www.wsj.com time to read: 1 min

I’m pretty sure we’ve hit peak absurdity. I recently read about a climate author “investigating how shade can be a powerful civic resource to protect us from climate change.” Shade! This from the announcement of a new “climate cohort” at a well-regarded philanthropy. It reveals a flaw in capitalism. Not a single scientist can be found in the climate cohort—why bother?—but instead authors, educators, designers, a poet and, hmmm, a chef.

They said the involvement of Hoffman, a prominent Democratic donor, raised the question of whether Carroll sued Trump, a Republican, to advance a political agenda. They had called Trump's request irrelevant to the defamation claim, and said Trump waived the argument by earlier raising and then dropping a similar request. She also has a still-pending defamation lawsuit filed in November 2019 against Trump over his denial five months earlier that the rape took place. The case is Carroll v Trump, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Racial Disparities are worsening disaster recovery for people of color. With climate change, things could get worse
▼ + stars: | 2023-04-14 | by ( Lauren Lee | ) edition.cnn.com time to read: +13 min

Rolling Fork, Mississippi suffered massive damage from a powerful tornado on March 24. Racial disparities existed in Rolling Fork for decades. She started I-DIEM after spending over 14 years in disaster management. Shirley Stamps stands in the rubble of her home in the aftermath of the Rolling Fork tornado. And increasingly, non-profits are doing things differently to address racial disparities in disaster management.

☆ Trump again asks to delay the E. Jean Carroll rape case — this time to probe billionaire Reid Hoffman's support for the litigation
▼ + stars: | 2023-04-13 | by ( Ashley Collman | ) www.businessinsider.com time to read: +6 min

Trump's lawyers asked to delay the E. Jean Carroll battery and defamation trial a month on Thursday. It is unclear how much of Reid's money granted through his nonprofit was used by Kaplan Hecker & Fink for the Carroll case. Seth Wenig/APOn Tuesday, Trump's lawyers asked the judge for a one-month delay to allow the "media frenzy" around his arrest to die down. Judge Kaplan has also complained about numerous attempts to delay the case in the past. But that litigation has been in limbo while appeals courts weigh in on whether Trump can even be sued in that case.

☆ Self-made millionaire Bethenny Frankel shares the No. 1 negotiation tip that made her rich: 'It changed my entire life'
▼ + stars: | 2023-04-12 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The reality TV alumna, who later founded the Skinnygirl lifestyle brand and became a self-made millionaire entrepreneur, agreed to a payment of just $7,250 for the hit Bravo TV show's first season, she said in a recent Instagram Reel. But she didn't let the network take a percentage of anything she made on her own, a move that "changed my entire life," she added. Frankel crossed out that section of the contract, and Bravo agreed to her terms, she said. A year later, Frankel founded Skinnygirl, which was initially built around selling pre-packaged, low-calorie margaritas. Shortly after, Frankel sold Skinnygirl Cocktails to Beam Global for an estimated $100 million dollars, keeping the rights to the "Skinnygirl" name.

☆ How two of North America's richest families came together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp., Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Why two of North America's richest families are coming together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp, Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Hong Kong government announces measures to lure wealthy family offices
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 24 (Reuters) - Hong Kong's government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules. "The policy statement demonstrates our determination to develop Hong Kong into a leading global family office hub," Paul Chan, the city's financial secretary said. Chan said this would help bolster Hong Kong's financial sector as well as areas including technology, green, arts and culture and philanthropy. City leader John Lee said last year that he had set a target of attracting 200 large family offices to set up in Hong Kong by 2025. Hong Kong's push to attract wealthy families comes as many wealthy individuals and companies shifted to rival financial hubs such as Singapore after Beijing's imposition of a national security law on Hong Kong in 2020.

☆ MacKenzie Scott wants to know why she should give your nonprofit a $1 million donation from a $250 million pot of cash
▼ + stars: | 2023-03-23 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

MacKenzie Scott launched a $250 million "open call" for nonprofits. She plans to make 250 donations of $1 million apiece through her organization, Yield Giving. However, Scott's charity is now asking nonprofits to tell them why they should get a $1 million donation from a $250 million pot of cash. Jeff Bezos's ex-wife says the "open call" will support 250 "organizations making positive change in their communities." "So there are three big headlines here in my heart: community changemakers can nominate themselves.

☆ Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium
▼ + stars: | 2023-03-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.

☆ Gen Z shares 5 red flags that could mean an employer doesn't care about work-life balance
▼ + stars: | 2023-03-13 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Some Gen Zers fear that asking about work-life balance in interviews could harm their job prospects. Gen Zers shared their warning signs when job hunting, including unclear goals and a "bonus day." Preston Jacobson, a 24-year-old working in retail management, said he left his job in February because it lacked a proper work-life balance. "Instead of just asking folks about the work-life balance, I would ask employees what they do outside of work," he said. Do you have something to share about navigating a work-life balance as a member of Gen Z, as a millennial, or as a part of another generation?

☆ Bill Gates is officially a grandfather after his daughter, Jennifer, announces the birth of her first child
▼ + stars: | 2023-03-06 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Bill Gates is now a grandfather. His oldest child, 26-year-old Jennifer Gates, just announced she's welcomed a baby into her family. Jennifer Gates announced her pregnancy in November; she shares the child with her husband, Egyptian equestrian Nayel Nassar. The eldest of his three children, 26-year-old Jennifer Gates, announced over the weekend that she has given birth to her first child. Bill Gates has said the news that he would become a grandparent has changed his views on life and his philanthropy through the Bill & Melinda Gates Foundation.

☆ Why Gen Zers are asking about work-life balance during job interviews
▼ + stars: | 2023-03-03 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Gen Zers are prioritizing jobs where they can make a difference without burning themselves out. And many Gen Zers — myself included — have prioritized work-life balance. To find the right match, some in Gen Z ask hiring managers in interviews whether the company encourages work-life balance. Five Gen Zers shared how they're broaching work-life balance without risking their candidacy or feeding into the stereotype that they're lazy. "Gen Z is willing to have the difficult but essential conversations before they commit to a job," Kim said.

☆ There are growing expectations that Salesforce is readying a succession plan to appease activist investors. 'There's not a lot of people sitting on the bench,' one analyst said.
▼ + stars: | 2023-03-01 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +8 min

Analyst said any succession plan would be about giving investors "comfort" about the future. Company insiders, former employees and Wall Street analysts increasingly expect Salesforce to put a succession plan in place soon. 'If he's willing to work with the activists, then he can stay CEO'Analysts think that if a succession plan is announced soon, it won't include Benioff's immediate exit. "Benioff is Salesforce and Salesforce is Benioff," said Dan Ives, an analyst at Wedbush Securities. Bret Taylor, former Salesforce executive SalesforceTaylor's departure in late November left Salesforce with a limited bench of potential successors.

☆ How Trump allies and wealthy donors helped to fuel the GOP fight against ESG investing platforms
▼ + stars: | 2023-03-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +8 min

The conference was organized by the conservative leaning State Financial Officers Foundation, a tax exempt 501(c)(3) nonprofit group that does not publicly disclose its donors. Members of the State Financial Officers Foundations are all powerful state Republican officials, many of whom have scrutinized ESG practices or pulled back billions of dollars from investing firms. A representative for the State Financial Officers Foundation did not return a request for comment. Some of those organizations participated in a similar State Financial Officers Foundation gathering in Washington D.C. in November 2022, according to an agenda. One of the organizations that attended last February is the 1792 Exchange, a nonprofit sponsor of the State Financial Officers Foundation.

☆ From a horseback-riding model to a secret daughter: Meet the children of Apple cofounder Steve Jobs
▼ + stars: | 2023-02-24 | by ( Grace Kay | Aaron Mok | ) www.businessinsider.com time to read: +12 min

Steve Jobs left the bulk of his fortune to his wife, Laurene Powell Jobs, when he died in 2011. Later, he had Reed Jobs, Erin Jobs, and Eve Jobs with his wife, Laurene Powell Jobs. Meet Jobs' four children and his widow Laurene Powell Jobs, and see how his legacy helped his loved ones succeed. Erin Siena JobsErin Siena Jobs is the most private of Steve Jobs' children. Vianney Le Caer/Invision/APTwenty-four-year-old Eve Jobs, the youngest of Steve Jobs' children, is a model and an accomplished equestrian.

☆ Hot dog fingers and googly-eye rocks from 'Everything Everywhere All at Once' could be yours as A24 auctions dozens of props and costumes
▼ + stars: | 2023-02-24 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

A24 announced an auction of dozens of props and costumes from "Everything Everywhere All at Once." There are over 40 items for sale, including the famous "hot dog finger" gloves and several costumes. A mix of props and costumes are available in the auctions, including the famous "hot dog finger" gloves worn by Yeoh's character Evelyn. Many of the other props and costumes, including a rock with googly eyes and the fanny pack worn by Quan's character Waymond, are selling for a few hundred or thousand dollars. A24 has also auctioned items for charity from some of its past films including "Uncut Gems" and "Midsommar," as well as other general Hollywood memorabilia.

☆ Thomas H. Lee, pioneer of leveraged buyouts, is dead at 78
▼ + stars: | 2023-02-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Thomas H. Lee, a private equity financier who pioneered the use of leveraged buyouts that helped to reshape corporate America, has passed away, according to a notice from his former firm that still bears his name. “We are profoundly saddened by the unexpected passing of our good friend and former partner, Thomas H. Lee,” said THL in a statement. “Tom was an iconic figure in private equity. One of Thomas Lee’s most famous, and lucrative, leveraged buyouts was his purchase of Snapple for $135 million in 1992. Lee left THL in 2006 and started another private equity firm, Lee Equity Partners.

Bill Gates, the cofounder of Microsoft, is thought to have a net worth of about $106 billion. Gates' own father was a high-powered attorney who became a name partner at the law firm K&L Gates. He's cultivated his brand of philanthropy with the Bill & Melinda Gates Foundation, his endeavor with Melinda French Gates, now his ex-wife. (Brock Adams, who went on to become the transportation secretary in the Carter administration, is said to have introduced Gates' parents.) Bill Gates' mother, Mary Gates, came from a line of successful bankers and sat on the boards of important financial and social institutions including the nonprofit United Way.

☆ After Mexican government cracked down on solar geoengineering, startup lets off balloons in Nevada
▼ + stars: | 2023-02-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

Essentially, solar geoengineering is mimicking what happens when a volcano erupts, and it's known to work. Solar geoengineering is not a solution to climate change, and nobody who studies it rigorously suggests it should be. Injecting sulfur dioxide into the atmosphere could damage the ozone layer, cause respiratory illness and create acid rain. The White House is coordinating a five-year research plan into solar geoengineering, the quadrennial U.N.-backed Montreal Protocol assessment report included an entire chapter addressing stratospheric aerosol injection (more colloquially called solar geoengineering), and Dustin Moskovitz, a co-founder of Facebook , is funding solar geoengineering research via his philanthropic organization, Open Philanthropy. The Nevada launch was previously detailed by Time reporters, who were there.

☆ China has to figure out how to care for 400 million people over the age of 60 by 2040 — and it's off to a rocky start
▼ + stars: | 2023-02-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +11 min

By 2040, it's expected to have 400 million people above the age of 60 — more people than in the entire US. "It's obvious that relying on contributions from medical insurance schemes to fund age care services is not likely to be viable in the longer term," she said. Alzheimer's is quickly rising as a concern in China, Luk said. "Is China aging rapidly? Beijing has been pressuring the private sector into building daycare centers, wards, and other age care infrastructure to shore up gaps in local government finances, Gu said.

☆ How the rich have their cake and eat it too by using trusts to give to charity, collect cash, and save on taxes at the same time
▼ + stars: | 2023-02-18 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Charitable remainder trusts give annual payments, and whatever is left at the end goes to charity. Grantors get a bigger upfront deduction because a higher rate assumes the trust assets will grow faster and more will be left to charity when the term ends. With a charitable remainder annuity trust (CRAT), the annual income is determined at the outset when the trust is funded. The second type, charitable remainder unitrusts (CRUT), are more popular in Sheehan's experience but also more complicated. If you select a payout percentage that is too high, the trust remainder might not be enough to pass muster with the IRS.

☆ 6 ways to attract Gen Z job seekers — and what they value most in companies
▼ + stars: | 2023-02-15 | by ( Alli Hoff Kosik | ) www.businessinsider.com time to read: +7 min

The current hiring market is competitive, but companies can take steps to attract Gen Z job seekers. Gen Z is no different. When looking for job opportunities, Gen Zers — those currently under the age of 26 — will be attentive to things that may not have been prioritized by previous generations. Talent-development expert Chelsea Williams, whose national workforce and development company Reimagine Talent works closely with many Gen Z professionals, shared six things companies need to prioritize in order to stand out to Gen Z job seekers. Connect job applicants with new Gen Z hires as much as you can during the interview and hiring process.

☆ Elon Musk donated $1.9 billion of Tesla stock to charity last year
▼ + stars: | 2023-02-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Tesla CEO Elon Musk gave 11.5 million shares of his stake in the electric automaker to an undisclosed charity last year, shares worth about $1.9 billion at the time they were donated. Musk’s net worth at the end of 2022 stood at $137 billion, according to Forbes’ real time billionaire tracker, so the $1.9 billion represented about 1.4% of his net worth at that time. Then in 2022 he sold $22.9 billion worth of Tesla shares as he raised cash for his purchase of Twitter. Given Tuesday’s closing price, the 11.5 million shares that Musk donated last year are worth $2.4 billion. The typical US household has a net worth of about $121,700, according to the most recent estimate from the Federal Reserve.

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