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☆ World sport leaders champion women on IWD
▼ + stars: | 2023-03-08 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

MANCHESTER, England, March 8 (Reuters) - FIFA General Secretary Fatma Samoura applauded the eight nations who are debuting at the Women's World Cup in celebration of International Women's Day on Wednesday, urging the players to take pride in their ability to inspire. Women they identify with, excelling on the pitch," Samoura said in a statement. "This will encourage a generation of young girls and women to aim high, to aim big. The ITF launched the Men as Allies programme, an element of the ITF Advantage All gender equality strategy. Sebastian Coe championed female leadership in a Twitter video, saying having women in positions of influence makes for a better organisation.

☆ China leans on coal amid energy security push
▼ + stars: | 2023-03-05 | by ( Andrew Hayley | ) www.reuters.com time to read: +4 min

Soaring global energy prices following Russia's invasion of Ukraine and domestic supply disruption have prompted Beijing to step up its focus on energy security in recent years. Fluctuating output from renewable plants, however, has led policymakers to lean on reliable and easily dispatchable coal power to shore up the country's baseload supply. "The energy security narrative is still going strong," said Greenpeace China policy advisor Li Shuo. Concerned about supply shortages amid high global prices, the planner pledged to "strictly control the expansion of projects to replace coal with natural gas". "(We shall) develop sound mechanisms to adjust urban end-user prices of natural gas in step with procurement costs," the report said.

☆ In-N-Out owner Lynsi Snyder is expanding the burger chain to two more states and increasing her wealth along the way. Here's how one of the youngest billionaires in the US lives her life.
▼ + stars: | 2023-03-03 | by ( Rachel Askinasi | Hayley Peterson | Nancy Luna | ) www.businessinsider.com time to read: 1 min

Snyder told "CBS This Morning” that she shies away from interviews intentionally. "We want to do what we do best, and that's serve some good burgers to our customers. It's not about us here — it's about this," she said, pointing to the restaurant behind her. Source: "CBS This Morning"

☆ Goldman Sachs' investor day led to more questions than answers
▼ + stars: | 2023-03-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

David Solomon at Goldman Sachs' 2023 investor day. All eyes were on Goldman Sachs yesterday as the bank held its second-ever investor day. The biggest news of the day was Solomon, along with other key executives, acknowledging the bank was exploring "strategic alternatives" for its consumer business. Hinting at "strategic alternatives" was something people would want to hear more about. And click here to read more about Goldman exploring "strategic alternatives" for its consumer biz.

☆ Ron DeSantis' past views could come back to bite him in Iowa, a critical state for any GOP challenger to Trump
▼ + stars: | 2023-03-01 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

Ron DeSantis' potential bid to dethrone former President Donald Trump could hit a critical snag in Iowa, home to the first-in-the-nation caucuses. "If you come to Iowa, you're going to talk about agriculture," Monte Shaw, the executive director of the Iowa Renewable Fuels Association, told Insider. DeSantis won't be alone in facing questionsTrump's own administration was hammered over its handling of the renewable fuel standard. Like Iowa's senators, he was also deeply frustrated by how Trump's EPA enforced the renewable fuel standard. Chris Carlson/APTexas Sen. Ted Cruz was hammered for months on the campaign trail for wanting to phase out the Renewable Fuel Standard.

☆ The 9 biggest takeaways from Goldman Sachs' investor day, from a tense Q&A with CEO David Solomon to the tater tots for breakfast
▼ + stars: | 2023-02-28 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Goldman Sachs held its second-ever Investor Day on Tuesday. Goldman Sachs held its second-ever "Investor Day" on Tuesday, giving shareholders a rare peek under the hood of one of the nation's largest investment banks. But losses across Goldman's consumer businesses have piled up in the three years since Goldman last held an investor day in January 2020. Nonetheless, at least some of the bank's backers aren't going anywhere and maintain their confidence in Goldman Sachs to be, well, Goldman Sachs. Outside the auditorium where the investor day was held — Room 101 within Goldman's headquarters at 200 West Street — one representative of a top-30 Goldman investor enjoyed a complimentary granola bar.

☆ David Solomon says Goldman Sachs is exploring 'strategic alternatives' for its struggling consumer business
▼ + stars: | 2023-02-28 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs is exploring "strategic alternatives" for its nascent consumer banking business. Goldman Sachs is exploring "strategic alternatives" for its nascent consumer banking business, CEO David Solomon and executives revealed on Tuesday at the Wall Street bank's second ever investor day. The phrase "strategic alternatives" is often used as company jargon for a sale or merger. Beyond a sale, strategic alternatives can also involve a spinoff, or other restructuring or alliance to drive value for shareholders. Screenshot of Stephanie Cohen speaking at Goldman Sachs' investor day ScreenshotSolomon held the bank's first ever investor day in 2020 just before the pandemic.

☆ Goldman Sachs pitching wealth clients on investing in Stripe shows how Wall Street drums up exclusive deals for its richest customers
▼ + stars: | 2023-02-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

To that point, Insider's Hayley Cuccinello has a story on how Goldman Sachs offered its richest clients the opportunity to invest in the buzzy fintech Stripe. If I can take the startup client my investment bankers are working with and leverage my wealth clients to help them fundraise, that's a win-win. Even better if the cofounders and employees of said startup turn around and come back to me as wealth clients once I help them get rich. More broadly, this is also just another example of how banks are always finding ways to cater to their rich clients. Click here to read more about how Wall Street is leveraging clients in its investment bank for its wealth business*(OK, I couldn't help myself.

☆ Meet the ex-Goldman banker who relaunched the XFL with The Rock
▼ + stars: | 2023-02-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Dealmaker Gerry Cardinale is betting on it, along with Dwayne "The Rock" Johnson and the star's business partner Dany Garcia. The XFL, previously owned by Vince McMahon, had been forced to cancel its season – its first in 19 years – due to the pandemic. In order to deliver NFL-quality football, the XFL inked an exclusive partnership with the NFL Alumni Academy to find top players. "Dwayne, Dany, and I think we can do that in five." READ THE FULL PROFILE: How Gerry Cardinale became the go-to dealmaker for the Yankees, AC Milan, and Ben Affleck

☆ How Wall Street firms lift the velvet rope on funding deals for buzzy startups like Stripe for their wealthiest clients
▼ + stars: | 2023-02-24 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Goldman Sachs has invited wealth management clients to invest in fintech unicorn Stripe, as reported by Bloomberg. The message was a rare peek into how the richest bank clients can access investments normally off-limits to individual investors. Insider redacted the wealth management vice president's name and email address to protect their privacy. Citi and JPMorgan, for instance, both have teams dedicated to direct private investments for private bank clients. Private wealth is a real power alley for us, and those continue to be good sources of funding," said Salisbury at a conference in September.

☆ Oil gains on Russian supply cut worries, but higher U.S. inventories weigh
▼ + stars: | 2023-02-24 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

BEIJING, Feb 24 (Reuters) - Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.7%, to $82.82 per barrel by 0215 GMT. The prospect of further rate hikes supported the dollar index , which was set for a fourth straight week of gains. Oil has also been pressured by a surge in U.S. crude inventories to the highest since May 2021, as refiners ran less oil during a strong maintenance season. Crude inventories rose by 7.6 million barrels to a about 479 million barrels, data from the U.S. Energy Information Administration said.

☆ Spring break gets pricey as travelers return to old booking habits
▼ + stars: | 2023-02-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Spring break travel demand is picking up, driving up airfare and hotel rates. Airlines, grappling with pilot shortages and aircraft delivery delays, have already limited capacity growth, which is keeping airfare up from last year. Now travelers are going back to booking patterns common before the pandemic, flying on peak days to traditional destinations, airline executives say. That makes it even more important for travelers to stay flexible if they're trying to save money to avoid spikes in fares. Spring break demand is "probably the best we've ever seen," Frontier Airlines CEO Barry Biffle said in an interview.

☆ 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.

☆ How top banks like JPMorgan and Morgan Stanley train young wealth managers to work with ultra-rich clients
▼ + stars: | 2023-02-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

Private banks cater to the wealthiest clientele, who typically have at least $10 million in assets. David Frame, CEO of the private bank, is doubling down on a recruiting push. JPMorgan aims to hire as many as 1,500 new private bank advisors over the next few years, which would double its current headcount. After three years of working for Goldman Sachs, about 25 to 40 analysts from the bank's private wealth division are handpicked for its advisory program. The course culminates with three case studies that involve portfolio strategy and estate planning, as well as a written and oral exam.

☆ McDonald's is opening 1,900 restaurants in 2023. Here's what it costs to open a McDonald's restaurant
▼ + stars: | 2023-02-07 | by ( Hayley Peterson | Nancy Luna | ) www.businessinsider.com time to read: +5 min

McDonald's franchise fee is $45,000. But McDonald's restaurants posted average domestic sales of $4 million in 2021, according to the chain's franchise disclosure report for 2022. Initial investment costs for running a McDonald's range from $1.4 million and $2.5 million — including the franchise fee. The rent for most new McDonald's restaurants ranges from 10% of total gross sales to $15.75% for new restaurants that have opened since January 1, 2020. But by mid-December 2022, McDonald's had grown to 13,666 US restaurants, according to preliminary store count data obtained from market research firm Datassential.

☆ Three women who were laid off from tech companies and startups share why they posted about their experiences on TikTok
▼ + stars: | 2023-01-31 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +5 min

More people are posting on TikTok about being laid off or unemployed. Three TikTok users share advice such as not disclosing secrets from your former employer. With that share, Hernandez began documenting her unemployment. Vlogging about unemployment on TikTok has helped her network, get job leads, and both give and find support. For all the value they see in posting, Hernandez and Bhereur cautioned against doing so recklessly.

Some hedge funds, wealth managers, and asset managers are still hiring. Recruiters told us what roles are in demand and what skills can help you land them. Big-name hedge funds like Citadel, D. E. Shaw, and Millennium Management posted double digits in a year that many other investment managers would rather soon forget. Alternative asset managers, meanwhile, are hiring in the private-wealth-management businesses they've spent recent years building out. … if you're in or interested in wealth managementDespite the market downturn, wealth managers are in high demand.

☆ Rockefeller Capital is approaching $100 billion in client assets. CEO Greg Fleming lays out his plans to double that and hire 150 more wealth advisors.
▼ + stars: | 2023-01-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth firm Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

☆ My mom died of an overdose. I'm talking about it openly to help other women going through the same.
▼ + stars: | 2023-01-29 | by ( Hayley Folk | ) www.businessinsider.com time to read: +7 min

Four years ago, at the age of 45, my mom died of a drug overdose. I share my and her story to help others going through the same things we went through. When she died, I had seen her only once in 11 years, and surprisingly, it was exactly a week to the day before she died. For women who overdose and survive, there is a societal stigma. If you're on the other side — you've lost a woman in your life to an overdose — there are resources for you.

☆ Rockefeller Capital's Greg Fleming on the $98 billion firm's plans to double assets
▼ + stars: | 2023-01-26 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wall Street veteran Greg Fleming founded Rockefeller Capital Management almost five years ago. Wall Street veteran Gregory Fleming launched wealth fim Rockefeller Capital Management in 2018 with the goal of hitting $100 billion in assets by 2023. If anything, the market turbulence has led to more inbound interest from clients, Fleming told Insider. He added that there is still potential to convert more wealth management clients into advisory clients and vice versa. For us, a lot of it is about the fit with the Rockefeller global family office," he said.

Some hedge funds, wealth managers, and asset managers are still hiring. Layoffs across industries have been dominating headlines in January, and Wall Street has been no exception. Big-name hedge funds like Citadel, D. E. Shaw, and Millennium Management posted double digits in a year that many other investment managers would rather soon forget. Alternative asset managers, meanwhile, are hiring in the private-wealth-management businesses they've spent recent years building out. Emily Landon, the CEO of the Chicago-based headhunting firm The Crypto Recruiter, pointed to the job board Crypto Careers, which has over 2,400 openings.

☆ Saudi Arabia stays top crude supplier to China in 2022, Russian barrels surge
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +3 min

China, which refused to condemn the attack, cranked up procurement of Russian barrels and has largely ignored the sanctions imposed by Western nations on seaborne Russian crude from Dec. 5. In December, it brought in 6.47 million tonnes of crude oil from Russia, or 1.52 million bpd, compared to 1.7 million bpd in the same period in 2021. Saudi Arabia shipped a total of 87.49 million tonnes of crude to China in 2022, equivalent to 1.75 million bpd, customs data showed, on par with the level in 2021. No Venezuelan crude imports were recorded by Chinese customs throughout 2022 and a total of 780,392 tonnes of crude oil from Iran arrived in China. (tonne = 7.3 barrels for crude oil conversion)Reporting by Andrew Hayley and Muyu Xu; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Laid-off workers are posting on TikTok to regain a sense of control
▼ + stars: | 2023-01-19 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +6 min

To help cope, some laid-off workers are posting videos about their experience on TikTok. Some of them described it as a way to regain a sense of control over their life and career. After about 15 minutes of crying, she said, she had an idea: She'd record her grief and post the video on TikTok. What's more, turning to social media isn't the only way to tap your network to try and land a new role. A chance to reboot a careerWithin days of posting her video, Bhereur said, she had several informal interviews and even job opportunities.

☆ Why wealth management is Goldman Sachs' new 'crown jewel' with dealmaking at a standstill
▼ + stars: | 2023-01-18 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

CEO David Solomon acknowledged that a stronger wealth and asset management business would have helped the bank weather the storm. One of Solomon's three key priorities for Goldman Sachs is growing management fees in the asset and wealth management arm. Solomon touted the potential for its workplace wealth offering Ayco in October, but private wealth management is another opportunity. Of 43 job postings in asset and wealth management based in the US, 15 are within the private wealth unit. The wealth management business also boosts Goldman's other services, as the bank's co-head of asset management Julian Salisbury said in September.

☆ China coal output in Dec slips on COVID; rises to record in 2022
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

China produced 402.69 million tonnes of coal last month, data from the National Bureau of Statistics (NBS) showed on Tuesday, equivalent to 12.99 million tonnes per day. That compares with 13.04 million tonnes per day in November, and 12.41 million tonnes in December 2021. Total production for 2022 rose to a record 4.496 billion tonnes, 9% higher than output in 2021, data from the NBS showed. China's coal production is expected to expand further in 2023 amid Beijing's emphasis on bolstering energy security. The country is assessed to have approved 260 million tonnes of coal mining capacity in 2022, bringing total capacity to 5.05 billion tonnes.

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