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☆ How the Supreme Court could soon change free speech on the internet
▼ + stars: | 2023-01-30 | by ( Lauren Feiner | ) www.cnbc.com time to read: +19 min

Musk's actions since closing the deal last year have illuminated how he sees the balance internet platforms must strike in protecting free expression versus user safety. The Supreme Court has yet to decide if or when to hear the cases, though many expect it will take them up at some point. The Age-Appropriate Design Code requires internet platforms that are likely to be accessed by kids to mitigate risks to those users. Google said such a change would also make the internet less safe and less hospitable to free expression. The Supreme Court of the United States building are seen in Washington D.C., United States on December 28, 2022.

☆ Pandemic-era stigma cost Asian restaurants $7.4B in lost revenue, new study finds
▼ + stars: | 2023-01-26 | by ( Angela Yang | Angela Yang Is An Intern For Nbc News Digital. | ) www.nbcnews.com time to read: +6 min

Stigma against Chinese cuisine in the first year of the pandemic cost Asian restaurants in the United States an estimated $7.4 billion in lost revenue in 2020, a recent study found. In a year in which tens of thousands of restaurants closed and many barely scraped by, the study — published online last week in the journal Nature Human Behaviour — reported that Asian restaurants across the country lost 18.4% more in foot traffic than other restaurants in 2020. Prominent reports of anti-Asian racism, from harassment to direct violence, flooded the country in the years after the pandemic’s outbreak. What was particularly surprising to Krupenkin, however, was that Asian restaurants that were not Chinese suffered an even greater decrease in traffic than Chinese restaurants. After investigating this spillover of consumer discrimination, her team found that many people simply couldn’t tell different Asian cuisines apart.

☆ Here’s what will happen to the economy as the debt ceiling drama deepens
▼ + stars: | 2023-01-22 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Minneapolis CNN —After the United States hit its debt ceiling on Thursday, the Treasury Department is now undertaking “extraordinary measures” to keep paying the government’s bills. And Americans — many people — would lose their jobs and certainly their borrowing costs would rise.”Dire warnings of debt ceiling trouble aren’t new. “2011 was the first time in a long time that we came close to a debt ceiling breach,” he said. “I think you would be hard pressed to say [the debt ceiling debacle] was a positive thing,” he said. Considering the potential consequences in the United States and abroad, Sheiner believes the debt ceiling will be lifted or suspended — eventually.

☆ World must abandon Cold War mentality, China's vice premier tells Davos
▼ + stars: | 2023-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

In a special address at the World Economic Forum in Davos, Switzerland, Liu repeatedly called on countries to improve diplomatic ties, "to "firmly safeguard world peace." China's Vice Premier Liu He said Tuesday that the world needs to abandon its Cold War mentality and seek to strengthen international cooperation. In a special address at the World Economic Forum in Davos, Switzerland, Liu repeatedly called on countries to improve diplomatic ties, "to "firmly safeguard world peace." Earlier on Tuesday, China's commerce ministry said the country's vice premier would soon meet U.S. Treasury Secretary Janet Yellen in Switzerland. Late last year, U.S. President Joe Biden and Chinese President Xi Jinping signaled a desire to improve bilateral ties.

☆ Leaked internal document shows Amazon expects a soft landing for the US economy and little chance of a recession, a rosier outlook than many other forecasters
▼ + stars: | 2022-12-22 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon estimates a 30% chance of US recession in the next 6 months, internal analysis shows. Amazon anticipates a soft landing for the US economy, according to the leaked analysis. A leaked internal document from Amazon suggests a brighter outlook, especially for the US economy. Yet, even if a recession were to come and unemployment rose, Amazon appears less concerned about the impact on its sales. The internal report from November said the US economic outlook for 2023 has "worsened significantly" and baseline forecasts now see growth falling below 1%.

☆ European shares rise on financials, energy boost amid festive cheer
▼ + stars: | 2022-12-22 | by ( Amruta Khandekar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 index (.STOXX) was up 0.4% at a one-week high, taking cues from an upbeat session on Wall Street overnight. "What we're seeing is a recovery in risk appetite after a fairly negative set of central bank meetings for equities," said Adam Hoyes, markets economist at Capital Economics. The STOXX 600 (.STOXX) has fallen about 11% so far in 2022, but it has still outperformed the benchmark U.S. S&P 500 index (.SPX), which has declined 18.6% and is on track for its worst yearly performance since 2008. Euro zone bond yields struggled for direction on Thursday as investors took stock of a surge in borrowing costs in the wake of last week's European Central Bank (ECB) meeting. London's blue-chip FTSE 100 (.FTSE) rose 0.5% despite data showing Britain's economy contracted more than expected in the third quarter.

☆ Taxpayers are paying billions for the renovations and construction of NFL stadiums. Here's how
▼ + stars: | 2022-12-22 | by ( Darren Geeter | ) www.cnbc.com time to read: +4 min

These tax exemptions help lower the burden of high debt through low-interest municipal bonds used by cities and teams to pay for stadiums. Since 1913, municipal bonds have been a popular financing option for airports, roads, hospitals and schools. The loophole works by creating an artificial financing structure through tax-exempt municipal bonds. To gain access to those bonds, private companies must fail one of two tests stipulated by the Tax Reform Bill of 1986. The Las Vegas Stadium Authority financed nearly 40% of the stadium through $750 million in bonds backed by its hotel taxes.

Relentlessly rising rents, eight consecutive interest rate hikes, surging living costs and devastating natural disasters in the past few years have inflamed what was already among the world's least affordable rental markets. In Demographia's International Housing Affordability report this year, Sydney ranked the world's second-least affordable market, behind only Hong Kong. Australia's worst floods on record in the east of the country earlier this year destroyed homes and forced about 40,000 people to evacuate, adding to the housing crisis. SEEKING SOLUTIONSProperty owners say rising costs are forcing them to raise rents. Trina Jones from Homelessness New South Wales said for the move to be successful, homes need to be representative of social and affordable housing, and not aimed at making profits.

☆ The 5 U.S. cities expected to have the highest rent prices in 2023
▼ + stars: | 2022-12-18 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

There are five cities where rent prices are predicted to cost the most next year, based on existing rent prices and projected demand, per an analysis provided by Zumper. Here's a look at the cities where rent is expected to be most expensive for a one-bedroom home, as well as price trends in each. New York CityMedian rent in December 2022 : $3,738: $3,738 Median rent in December 2020 : $2,399: $2,399 Percent change: 56% Prior to the pandemic, median rent for a one-bedroom home in the Big Apple was closer to $3,000. "We've seen record numbers of applications for apartments" in areas around New York City, Chen says. Luckily, rent prices have not climbed back up to the city's pre-pandemic peak of $3,700 in 2019.

In 2019, Cambodia supplied 8,571 of the 33,818 research monkeys imported to the U.S., or 25%. In 2021, the number of monkeys from Cambodia more than doubled to 18,870, making up nearly 60% of the 31,844 research monkeys brought to America. Earlier this year, long-tailed macaques and pig-tailed macaques were listed as endangered species by the International Union for Conservation of Nature. The decades long effort by animal rights groups to derail the monkey trade has made some impact. The incident shined a rare spotlight on the monkey trade, which largely goes on outside the view of the public.

☆ No signs of crypto spilling over into traditional assets – yet, analyst says
▼ + stars: | 2022-12-16 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Billions of dollars were lost when the exchange FTX collapsed, raising questions about whether movements in the crypto sphere could ricochet through to other financial systems. There are "no signs of spillover" from cryptocurrency into more traditional assets, according to an investment analyst from AJ Bell. A 'highly volatile' assetKhalaf was reluctant to make predictions as to where cryptocurrency will go next because it's so changeable as an asset. And while there are questions as to the long-term adoption of cryptocurrency, Khalaf made one point with a lot of certainty. "For the foreseeable, [cryptocurrency] remains highly volatile and speculative asset," he said.

Analysts expect sentiment to recover gradually next year, as the relaxation of COVID restrictions and property support policies take effect. Property investment fell the fastest since the statistics bureau began compiling data in 2000, down 19.9% on year in November after a 16% slump in October, the NBS said in a statement. Beike's Liu predicted housing demand will be gradually released in 2023 as consumer sentiment will improve with a progress in housing delivery. Although markets cheered the easing policies, which are expected to boost economic growth in the long term, some analysts say fragile overall demand will keep the property sector's recovery gradual. "Considering the challenging demographic trend, and policymakers' long-held stance that 'housing is for living in, not for speculation', we maintain our view that the property sector recovery should be gradual and bumpy," Goldman Sachs analysts said in a note.

☆ Factbox: Germany's energy prices bill - what are the details?
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Dec 15 (Reuters) - Here are some details of legislation passed by Germany's lower house of parliament on Thursday to cap gas and power prices for consumers up to April 2024 and in return tax utility profits deemed to be excessive. POWER PRICE BRAKEA brake on power prices will be implemented in March but applied retroactively to January and February, capping 80% of the previous year's bill at 40 cents per kilowatt hour (kWh). GAS PRICESA brake on gas prices is also backdated and caps the equivalent of 80% of the prior year bill at 12 cents per kWh. The argument is they benefitted from higher revenues inadvertently due to spillover especially from gas prices, since gas plants' costs act as wholesale market price setters. The final version bore account of the need to avoid hurting new investments and upsetting wholesale market dynamics.

☆ EU to discuss Russia, Iran sanctions, top up of Ukraine arms fund
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 12 (Reuters) - European Union foreign ministers will meet on Monday to try to agree on further sanctions on Russia and Iran and an additional 2 billion euros ($2.11 billion) for arms deliveries to Ukraine. However, it remained unclear whether Hungary will block some decisions, resorting to what diplomats have denounced as "blackmail diplomacy" due to a dispute over locked EU funds for Budapest. Foreign ministers will discuss a ninth package of Russia sanctions that is set to place almost 200 more individuals and entities on the EU sanctions list. They are also due to review new sanctions on Iranian people and organisations over human rights abuses in Tehran's crackdown on protesters and the supply of drones to Russia. Before their meeting, ministers will talk with the counterparts from the Eastern Partnership - Armenia, Azerbaijan, Georgia, Moldova and Ukraine - nations the EU has sought to stabilise in the face of Russia's war in Ukraine.

☆ The difference between this comeback and the market's last failed bear market bounce
▼ + stars: | 2022-12-03 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

A 17% S & P 500 surge off a new bear-market low in a market drenched in stagflation panic? On a purely technical, tape-reading basis, the S & P 500 this trip has in fact now closed above its 200-day average, whereas it merely touched that threshold in August. The equal-weighted version of the S & P 500 is down only 8.5% this year and a mere 2% off its August peak, compared to 14.5% and 5% for the standard market-cap-weighted S & P, more evidence that the "typical stock" is holding up better than the biggest ones. This time, stocks began falling two months before the first Fed rate hike. Wall Street strategists, meantime, are collectively projecting a modest drop in the S & P 500 for 2023, the first time since at least 1999 when the consensus failed to target annual gains.

☆ US recession odds are 'extremely elevated' and a downturn is likely to hit within the next year, chief economist says
▼ + stars: | 2022-12-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Vincent Reinhart, the chief economist of Dreyfus Mellon, is expecting a recession to hit within the next 12 months. "There is an extremely elevated chance of recession," he told Bloomberg on Thursday. "It's hard in a sense that they have to put pain on the economy to get inflation down," he said. "But it's spillover to service inflation, that's what you've got to worry about, that's what Powell's worried about. The durable part of inflation that's still above the Fed's goal."

☆ Sen. Sherrod Brown calls on Treasury Secretary Janet Yellen to help rein in cryptocurrency firms after FTX collapse
▼ + stars: | 2022-11-30 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Bahamas-based crypto exchange FTX filed for bankruptcy in the U.S. on Nov. 11, 2022, seeking court protection as it looks for a way to return money to users. Senate Banking Committee Chairman Sherrod Brown urged Treasury Secretary Janet Yellen on Wednesday to work with lawmakers and financial regulators to help write legislation to rein in the cryptocurrency market in the wake of the collapse of crypto exchange FTX. Brown sent the letter the day before Congress holds its first hearing on FTX's collapse. Brown encouraged partnership between Congress, Treasury and the White House, even referencing Treasury's coordination with the President's Working Group on Financial Markets. "Congress and the financial regulators must work to get all of this right.

☆ Crypto lender Genesis subject of probe by regulators - Barron's
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - State securities regulators are investigating Genesis Global Capital as part of a wide-ranging inquiry into the interconnectedness of crypto firms, Barron's reported on Friday citing a comment from the Alabama Securities Commission Director. While it does not directly serve individual investors, Genesis backs products offered by crypto companies such as Circle Internet Financial, the principal operator of one of the largest stablecoins, USD Coin, and by Gemini. Genesis and Alabama Securities Commission did not immediately respond to Reuters' requests for comment on the report. In the aftermath of the collapse of crypto exchange FTX, Genesis suspended customer redemptions in a spillover effect citing "abnormal withdrawal requests" that exceeded its liquidity. Several crypto firms have been plagued by contagion concern from the fallout of the FTX collapse, with many counting their exposure in millions to the beleaguered exchange.

☆ Tesla shares rise on Citi upgrade, Elon Musk talk of a new factory in Asia
▼ + stars: | 2022-11-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Tesla shares jumped almost 8% on Wednesday after hitting a 52-week low a day earlier. The rally followed an upgrade by analysts at Citi and an indication from Tesla CEO Elon Musk that South Korea is a top candidate for a new factory the company hopes to build in Asia. Some dips in Tesla shares followed massive stock sales by Musk as he liquidates in part to finance the Twitter deal. Earlier this month, Musk sold another $3.95 billion in Tesla shares, telling Twitter employees he was doing so to save the social media company. The firm still recommends buying Tesla shares and has a $330 price target.

☆ As Coinbase shares slide, Morgan Stanley lists major firms with potential FTX exposure
▼ + stars: | 2022-11-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Strategists at Morgan Stanley on Nov. 17 compiled a list of 63 institutions that may be exposed to losses or have their capital stuck on FTX's platform. The below table shows 19 of the companies identified by Morgan Stanley as having significant exposure to FTX. Of the 19 companies listed, 15 have confirmed some exposure to FTX (although figures may differ from Morgan Stanley's estimates). Temasek, the Singaporean state-owned holding company, said it had invested more than $200 million in FTX and FTX's U.S. subsidiary. Morgan Stanley also named Ledn, BlockFi, Amber Group, Skybridge Capital and Selini Capital as among the funds with potential exposure to FTX, but where values had not been disclosed.

Blackouts forced the shutdown of reactors at Ukraine's Pivdennoukrainsk nuclear power plant in the south and the Rivne and Khmelnitskyi plants in the west, all in government-held territory, the state-run nuclear energy firm Energoatom said. "Currently, they (power units) work in project mode, without generation into the domestic energy system," Energoatom said. Explosions reverberated throughout Kyiv on Wednesday afternoon as Russian missiles bore down and Ukrainian air defence rockets were fired in efforts to intercept them. Most thermal and hydro-electric power plants were forced to shut down as well, Ukraine's energy ministry said earlier. [1/15] Rescuers work at a site of a residential building destroyed by a Russian missile attack, as Russia's attack on Ukraine continues, in the town of Vyshhorod, near Kyiv, Ukraine, November 23, 2022.

☆ Premarket stocks: Recession fears receded this earnings season
▼ + stars: | 2022-11-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

So can the United States avoid a serious recession? What’s happening: As the third-quarter earnings season wraps up, it appears that CEOs may think so. The past month has brought with it a solid earnings season and a bevy of encouraging economic data that shows a slowing pace of inflation. The United States will enter a “mild recession in the second half of 2023, they said. All regions of the United States saw month-over-month and year-over-year declines.

Here are several of the ways the new law could affect voters in the runoff. Plus, due to an ongoing lawsuit against the state, it remains uncertain whether one Saturday early voting day, on Nov. 26, will be allowed. This year, that would mean there would be no early in-person voting on Nov. 26, the Saturday following Thanksgiving. But under Georgia law, runoff voting may not begin until after officials have certified the general election vote, which will be on Monday, Nov. 21, per the Georgia Secretary of State’s office. "But now because of SB 202, you can only do that during the hours of early voting, which can often be a regular 9-to-5."

☆ After ASEAN and G-20, diplomats make last push on Ukraine crisis at APEC
▼ + stars: | 2022-11-18 | by ( Sri Jegarajah | ) www.cnbc.com time to read: +1 min

A possible spillover of the war in Ukraine into Europe's eastern flank, which risks sparking a new phase of the conflict, will overshadow the agenda at this week's APEC Summit in Bangkok. Nurphoto | Getty ImagesBANGKOK — A possible spillover of the war in Ukraine into Europe's eastern flank, which risks sparking a new phase of the conflict, will overshadow the agenda at this week's APEC Summit in Bangkok. The latest developments in Europe are likely to eclipse the Asia Pacific Economic Cooperation forum as business leaders, heads of state and diplomats try to find a way out of the conflict in Ukraine. The war has led to a stubbornly high global inflation that's challenged policymakers and caused a crippling cost of living crisis. Thailand has shown exceptional leadership in steering APEC through a challenging time," he said.

☆ 10 of the most high stress jobs in the U.S.―some pay as much as $208,000 a year
▼ + stars: | 2022-11-18 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

There are jobs that are stressful that pay less and jobs that are stressful that pay more." Stress level: 100 Median annual salary: $208,000Film and video editorThese professionals edit footage according to scripts or the film or video's narrative. Stress level: 99 Median annual salary: $62,680Anesthesiologist assistantThese assistants help anesthesiologists administer anesthesia for procedures such as surgery. Stress level: 97 Median annual salary: $77,600Obstetrician and gynecologistThese medical experts specialize in the female organs and reproductive system. Stress level: 96 Median annual salary: $39,230Nurse anesthetist

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