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☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

☆ Harvard neuroscientist: The 'most underrated' skill all successful people have—'especially introverts'
▼ + stars: | 2023-01-25 | by ( Juliette Han | ) www.cnbc.com time to read: +3 min

The most underrated skill that successful people, especially introverts, have is the ability to write clearly. Before you communicate an idea or request, decide on the best format to deliver your information. For example, if you are sharing research involving complex data, then a PowerPoint displaying charts and images may be the best format. Format the email so it's easy to read on phone screens (e.g., short, bulleted sentences). If your message exceeds one page, create a separate document to attach and use the email to provide highlights.

☆ Japan's factory activity extends declines for third straight month - PMI
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Jan 24 (Reuters) - Japan's manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. Factory output and new orders decreased for a seventh consecutive month, although at slower paces than last month, the sub-index data showed. The au Jibun Bank flash services PMI rose to a seasonally adjusted 52.4 in January from the previous month's 51.1 final, hitting a three-month high. Overall, the au Jibun Bank Flash Japan composite PMI rose to 50.8 in January, up from last month's final 49.7 and emerging above the break-even 50 line for the first time in three months.

☆ Here's how much money you need to earn to be in the top 1% in every U.S. state
▼ + stars: | 2023-01-24 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

To be in the top 1% of earners in Connecticut, residents need an adjusted gross income of at least $955,261. However, in West Virginia, they only need to earn an AGI of $374,712 to be part of the top 1%. Coastal states like New York and California tend to have the highest earners, while top earners in more rural states like Mississippi and Arkansas make less. To calculate these numbers, the analysis updated 2018 income data from the Internal Revenue Service using 2022 Consumer Price Index data to account for inflation. States are listed in descending order, starting with the state with the highest income threshold for the top 1%.

☆ US stocks fall as investor concerns grow over looming recession and debt ceiling fight
▼ + stars: | 2023-01-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

US stocks fell on Thursday as investor concerns about a recession and the US debt ceiling linger. The US Treasury took extraordinary measures to meet the country's obligations after it hit the debt limit set by Congress. Treasury Secretary Janet Yellen believes the measures will stall a US default until June. Recession fears resurfaced after retail sales fell 1% in December, building off the 1% decline seen in November. Treasury Secretary Janet Yellen has said she expects the measures will stall a US default until around June, when pressure will be on Congress to raise the debt ceiling.

Inflation is continuing to show signs of slowing, and mortgage rates have decreased slightly in response to this news. High inflation and rate hikes from the Fed helped push mortgage rates up more than three percentage points last year. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

☆ This week's best performers include two airlines and a media stock expected to rally 48%
▼ + stars: | 2023-01-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

United Airlines has 5% upside to the average analyst price target and its stock is rated a buy by 48% of the analysts covering it. However, American Airlines average price target implies 4% downside and just 9% of the analysts covering it have a buy rating. Discovery to rally almost 49%, according to the average price target. The media company, which gained 16% this week, is rated a buy by 46% of the analysts covering the stock. Meanwhile, Royal Caribbean has 6% upside to the average price target and a buy rating from 42% of the analysts covering the stock.

☆ School lunch, eggs and airfare: Why inflation soared for 10 items in 2022
▼ + stars: | 2023-01-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%. Overall food prices have been pressured on many fronts, too, funneling into school meals. Oil prices retreated in the second half of the year, though, as fears mounted of a possible recession and an accompanying weakness in oil demand. Monthly milk production among major suppliers fell each month from September 2021 to June 2022, according to the U.S. Department of Agriculture.

Mortgage rates have ticked down somewhat following the news that inflation is continuing to show signs of slowing. High inflation and rate hikes from the Fed helped push mortgage rates up more than three percentage points last year. See more mortgage rates on Zillow Real Estate on ZillowMortgage calculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. If the Fed acts too aggressively and engineers a recession, mortgage rates could fall further than what current forecasts expect.

☆ December inflation data: Here's how it could move markets
▼ + stars: | 2023-01-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

"Like we saw following November's CPI report, markets rallied and then pulled back," Conzo explained. The central bank remains "worried about the overheating labor market," and the CPI report is "unlikely to quell those concerns." If the inflation data shows further cooling today, how does that impact your economic outlook for the year? Along with CPI data, investors are also bracing for the release of the number of US jobless claims. Coinbase stock price on Jan. 12, 2023 Markets Insider10.

☆ Social Security cost-of-living adjustments have fallen short of inflation by $1,054 since the start of pandemic
▼ + stars: | 2023-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

That's as this year's 8.7% COLA kicks in for more than 65 million Social Security beneficiaries this month. That new data indicates Social Security beneficiaries will recover $38.70 after months of grappling with record high inflation, according to a new report from The Senior Citizens League. Average Social Security benefits fell short of inflation by about $1,054 from the start of the pandemic through 2022, according to a new analysis from the non-partisan senior group. That excludes Medicare Part B premiums, which are typically deducted directly from Social Security benefit checks. The predicament has made it more important for retirees to carefully plan for all income streams, not just Social Security.

☆ Gold firms as dollar eases ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI due at 1330 GMT(.DXY) down 0.1%Jan 12 (Reuters) - Gold prices ticked higher on Thursday, aided by a softer dollar, while market participants awaited key U.S. inflation data that could influence the Federal Reserve's policy path. "Gold prices are very well supported as the dollar has weakened. If the inflation report is supportive for gold, then prices could move up to $1,900 level, but there might be some profit booking after that, Kedia added. Although gold is seen as an inflation hedge, rising rates increase the opportunity cost of holding bullion. On the physical front, Indian gold refiners have nearly stopped imports of gold dore, a semi-pure alloy, as grey market operators offer hefty discounts, industry officials said.

☆ Jamie Dimon says the Fed may need to hike interest rates much higher than markets expect in order to get inflation under control
▼ + stars: | 2023-01-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The Federal Reserve may need to hike interest rates beyond the market's expectations, JPMorgan CEO Jamie Dimon told Fox Business. The Fed may have to lift the fed funds rates to 6%, while the consensus is for just above 5%. The Federal Reserve, led by Jerome Powell, raised interest rates seven times in 2022 from zero percent to a range of 4.25% to 4.5%. The Fed began to slow the pace of rate increases in December, to 50 basis points from 75 basis points. Investors widely expect the Fed to continue to downshift the size of rate increases this year.

☆ Mexico inflation below forecasts in December, core inflation cools
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Jan 9 (Reuters) - Mexico's headline inflation ended 2022 slightly below analysts' expectations, while core inflation finally appeared to have peaked, data from the national statistics agency showed on Monday. Annual headline inflation in December reached 7.82%, up moderately from 7.80% in November, but still below the record 8.70% reached in August and September. (MXCCPI=ECI)Economists polled by Reuters had expected annual headline inflation to come in at 7.86% and core inflation at 8.36%. On a monthly basis, core inflation was 0.65% in December. (MXCPIX=ECI)Meanwhile, monthly headline inflation was 0.38% in the period, according to non-seasonally adjusted figures.

☆ Dollar tentative as investors assess rate-hike path
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +3 min

That led the dollar index , which measures the U.S. dollar against six major currencies, 1.15% lower on Friday. On Monday, the index, which gained 8% in 2022, was 0.01% higher at 103.720. Analysts, however, point to the still tight labour market that is likely to concern Fed officials. With the next Fed meeting scheduled at the start of next month, investors will focus on the consumer price index data due on Thursday. The Australian dollar rose 0.17% versus the U.S. currency to $0.689, while the kiwi gained 0.02% to $0.635.

☆ Gold prices gain on hopes of smaller U.S. rate hikes
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices advanced to an eight-month high on Monday, as a weaker dollar made greenback-priced bullion cheaper for overseas buyers while hopes of less-aggressive U.S. rate hikes also lifted sentiment. Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday.

☆ Gold scales 8-month high as Fed slowdown prospects lift appetite
▼ + stars: | 2023-01-09 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday. "This week's CPI data would be key.

☆ Has inflation finally peaked?
▼ + stars: | 2023-01-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But for investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022. The hope is that inflation pressures will cool even more dramatically as the year progresses. We believe inflation peaked in June,” said Nancy Tengler, CEO and chief investment officer with Laffer Tengler Investments, in a report. Inflation impact on the Fed and housingWhat’s more, lower levels of inflation should allow the Fed to keep slowing its pace of interest rate hikes. But if inflation pressures continue to abate – and the Fed acknowledges that by pulling back on rate hikes – then the housing market may rebound.

The government will give documents and evidence to Bankman-Fried’s lawyers in a process known as discovery. Prosecutors said on Tuesday that they have hundreds of thousands of documents with more on the way as they continue gathering evidence. Discovery can take months, particularly if disputes arise over what evidence the defense is entitled to see ahead of trial. Manhattan U.S. Attorney Damian Williams has said his office will continue to make announcements as its probe widens. Criminal defendants can change their plea at any time, and their lawyers often negotiate with prosecutors over a possible plea deal.

☆ It's been a bleak year for stocks. This is what investors can expect in 2023 — according to history
▼ + stars: | 2023-01-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A confluence of global factors has meant the MSCI World index of large and mid-cap stocks finished the year down by nearly 20 % . In January alone, after a year of negative returns, the index rose 60% of the time by an average of 4.6%. The S & P 500 since 1929 CNBC also analyzed the S & P 500 since 1929, which showed a similar picture. That will bring the S & P 500 down to 3,600 from its current level of around 3,800 points. As for the month of January, after a year of negative returns, the U.S. index performed very similarly to the MSCI World index.

☆ There's still time to get health insurance through the public exchange — and you may qualify for help paying premiums
▼ + stars: | 2023-01-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Anyone without health insurance has about two weeks left to get 2023 coverage through the public marketplace — and subsidies could make it affordable. Open enrollment for the federal health care exchange runs through Jan. 15, with coverage taking effect Feb. 1. Most marketplace enrollees — 13 million of 14.5 million in 2022 — qualify for federal subsidies (technically tax credits) to help pay premiums. For the most part, people who get insurance through the federal (or their state's) exchange are self-employed or don't have access to workplace insurance, or they don't qualify for Medicare or Medicaid. As of Dec. 15, nearly 11.5 million people had selected a plan through the marketplace, according to CMS.

☆ U.S. House committee releases Trump tax returns he sought to keep secret
▼ + stars: | 2022-12-30 | by ( Moira Warburton | ) www.reuters.com time to read: +5 min

[1/2] Donald Trump departs Trump Tower two days after FBI agents raided his Mar-a-Lago Palm Beach home, in New York City, New york, U.S., August 10, 2022. The nearly 6,000 pages of records include over 2,700 pages of personal returns from Trump and his wife Melania Trump, plus more than 3,000 pages of returns from his businesses. Trump, a businessman who held public office for the first time when he entered the White House in 2017, was the first presidential candidate in decades not to release his tax returns. Neal first requested the returns in 2019, arguing that Congress needed them to determine if legislation on presidential tax returns was warranted. Representative Kevin Brady, the House panel's top Republican, warned that future committee chairmen will have "nearly unlimited" power to make public the tax returns of private citizens, including "political enemies".

☆ The Mega Millions jackpot is $640 million. These are 4 key things to do if you actually win
▼ + stars: | 2022-12-30 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

That's the Mega Millions jackpot amount for the next drawing, set for Friday night. The top prize has been growing since Oct. 14 when it was reset to $20 million after two tickets — sold in Florida and California — matched all six numbers to split a $502 million jackpot. "People can lose tickets, and no ticket means no money." Build a team of advisorsWinning such a large amount of money means having some pretty weighty financial decisions to make. For this $640 million Mega Millions jackpot, the cash option — which most jackpot winners choose — is $328.3 million.

☆ Negative-Yielding Bonds Could Be Approaching Their Final Days
▼ + stars: | 2022-12-28 | by ( Matt Grossman | ) www.wsj.com time to read: 1 min

The Bank of Japan has held its benchmark interest rate below zero to stimulate growth, but rising prices are testing that strategy. Negative yields on government bonds look like they are about to ride off into the sunset. The worldwide sum of negative-yielding debt has almost completely evaporated, another effect of central bankers’ efforts to fight inflation around the world. It now stands at $271 billion, down from more than $18.4 trillion two years ago, according to Bloomberg index data accessed via FactSet.

☆ Consumers are getting payments from Equifax data breach settlement. Here’s what to expect if you filed a claim
▼ + stars: | 2022-12-28 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

As a result, consumers who were affected by the breach had the option of signing up for either up to $125 or free credit monitoring at all three of the largest credit reporting firms: Equifax, Experian and TransUnion . On Twitter, users have reported receiving small payments, with amounts ranging from $2.64 or $5.21 to $21.06 and $40.44. Additionally, although the initial deadline to file a claim was Jan. 22, 2020, consumers are still permitted to file a claim for expenses incurred after that date but before Jan. 22, 2024, due to the data breach. The best way is to "freeze" your credit report, Ulzheimer said. Freezing your report essentially blocks a lender from checking your report, which means a fraudster would be unable to open an account using your personal data.

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