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☆ British crime agency recovers $65 mln of suspect money in Barclays accounts
▼ + stars: | 2022-11-25 | by ( Sam Tobin | ) www.reuters.com time to read: +1 min

LONDON, Nov 25 (Reuters) - Britain's National Crime Agency (NCA) on Friday obtained a civil recovery order relating to nearly 54 million pounds ($65 million) of suspected criminal property held in accounts with Barclays (BARC.L). The NCA's lawyers told London's High Court that the money is likely "the proceeds of unlawful conduct", a view shared by Barclays which first approached the agency about the money. Judge Robin Knowles said he was prepared to make the civil recovery order "without hesitation". The NCA said that the case was "a great example of how the public and private sector can work together to recover proceeds of crime". "The proactive identification of these funds by Barclays was the reason we could take this action," said Adrian Searle, director of the National Economic Crime Centre within the NCA.

☆ The Fed's last rate hike will come in January, but stocks will still be under pressure from dismal earnings in 2023, Morgan Stanley strategist says
▼ + stars: | 2022-11-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The Fed could stop hiking rates as soon as January of next year, according to Morgan Stanley's Andrew Sheets. Sheets pointed to evidence of falling inflation, though he noted central bankers would likely keep monitoring the economy after pausing rate hikes. But while investors are hoping a pause could spark a new rally, stocks will still be under pressure next year on poor earnings, he warned. But central bankers risk undoing the tightening they've done so far by pausing rate hikes, Sheets pointed out. Stocks are still likely to face downward pressure with dismal earnings into 2023, Sheets said.

☆ Trump or Biden? How About Neither?
▼ + stars: | 2022-11-18 | by ( Mark Penn | Andrew Stein | ) www.wsj.com time to read: 1 min

Joe Biden and Donald Trump: Please do the country a service and don’t run for president in 2024. America is in gridlock over the both of you, and it’s time to let the country progress and find a unifying force that can lead it into the next decade. According to a Nov. 10-14 Morning Consult poll, 65% of Americans don’t want Mr. Biden to run again, and 65% say the same of Mr. Trump. Both of you have served this country, yet both of you have flaws and problems that stand in the way of a successful second term.

☆ A federal judge compared the January 6 mentality to 'Nazi Germany' at the sentencing of a Capitol rioter
▼ + stars: | 2022-11-18 | by ( C. Ryan Barber | ) www.businessinsider.com time to read: +5 min

Walton made the comment as he sentenced a Capitol rioter who blamed Trump for January 6. The rioter, Dustin Thompson, was sentenced to three years in federal prison. Judge Reggie Walton made the remark at the sentencing of Dustin Thompson, a Capitol rioter who blamed Trump for his involvement in the January 6, 2021, attack on the Capitol. Following Thompson's conviction, Walton and federal prosecutors accused him of lacking candor while testifying under oath. In his own remarks to Walton, Thompson said he was "deeply ashamed" and apologized to the Capitol Police and "everyone" in the United States.

☆ FTX Collapses Into Bankruptcy System That Still Hasn’t Figured Out Crypto
▼ + stars: | 2022-11-16 | by ( Andrew Scurria | Soma Biswas | ) www.wsj.com time to read: 1 min

The U.S. bankruptcy system will hash out the largest-ever collapse of a cryptocurrency exchange through a legal process that has barely begun to answer how holders of digital currencies will fare in an insolvency. Bankruptcy courts haven’t had the chance to decide complex legal questions around crypto ownership when an exchange or lender goes bust. As FTX’s chapter 11 case gets under way, the question of who even owns digital currencies—the exchanges or the customers who made the deposit—remains unsettled.

☆ How to get a YouTube video editor job and how much they earn
▼ + stars: | 2022-11-16 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Being a YouTube video editor can be lucrative and become a full-time job, with the right tricks. The jobs in the YouTube space range from "YouTube producer," to "thumbnail designer," or "video editor." How to become a YouTube video editorBecoming an established editor often depends on building the right connections. Rhyze explains how he sets his rates as an editorA good video editor also knows that editing for YouTube is very different than editing other forms of video entertainment. Read how much Vulpis he makes per month, and the differences between filmmaking and YouTube editingOther YouTube jobs: Thumbnail designerBeing a video editor is not the only way to build a career working "behind the scenes" of a YouTube video.

☆ Expectations for Biden-Xi talks at G-20 are 'not very high,' says analyst
▼ + stars: | 2022-11-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpectations for Biden-Xi talks at G-20 are 'not very high,' says analystAndrew Staples of Economist Impact there's a lot of concern from the global business community that tensions between the two will negatively affect investment plans and consumption.

☆ The G-20 summit kicks off Tuesday. Here's what to expect.
▼ + stars: | 2022-11-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +5 min

Indonesian Finance Minister Sri Mulyani (C front) attends the G20 Finance Ministers Meeting in Nusa Dua, on Indonesia's resort island of Bali, on July 16, 2022. Nineteen countries and one economic region, the European Union, will attend this year's two-day G-20 meeting. This year's in-person attendee list has been in the spotlight as Russian President Vladimir Putin continues his unprovoked war in Ukraine. U.S. President Joe Biden is also scheduled to hold a bilateral meeting with his Chinese counterpart Xi Jinping ahead of the G-20. He highlighted China's stance on the war in Ukraine as one of many signs of eroding relations between the U.S. and China.

☆ Wall St Week Ahead Soaring U.S. tech stocks leave some investors doubtful rebound will last
▼ + stars: | 2022-11-12 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

At the same time, tech sector valuations remain well above the overall market, while analysts are dimming their profit outlooks for the group. That level, which is still above the 17 times earnings commanded by the S&P 500, is still too lofty for some investors. Still, some investors are considering increasing their positions in tech and megacap stocks if further evidence of easing inflation presents itself. Higher yields can weigh heavily on tech and growth stocks, whose valuations tend to be based heavily on future profits that are discounted more severely as yields go higher. The firm has been underweight large-cap tech and growth stocks, preferring small cap and value shares, Lip said.

Kherson, Ukraine CNN —For eight months, residents of the Ukrainian city of Kherson have been living under brutal Russian occupation. But on Friday, Ukrainian forces swept into the city and Russian troops retreated to the east. Another local resident named Andrew said he was so glad to see Ukrainian soldiers. The woman said it felt “amazing” to see Ukrainian troops in Kherson. He warned that many Russian troops “threw away their military uniforms, and are now hiding with civilian clothes on.”

Closely watched state Supreme Court races in which divisive issues such as abortion rights and redistricting fueled political donations and record campaign fundraising ended with mixed results on Election Day. Republican Supreme Court Justice Pat DeWine speaks to supporters at an election watch party on November 8, 2022 in Columbus, Ohio. Andrew Spear / Getty ImagesIn North Carolina, Republicans were victorious, claiming the two open seats on the state Supreme Court and flipping its makeup to a 5-2 Republican majority — clinching power for the first time in six years. The 6th Supreme Court District is comprised of 13 largely Republican-leaning counties, and eight of them rejected the amendment, she added. While the state Legislature is controlled by Republicans, voters may not have been swayed by politics when it came to deciding who sits on the state Supreme Court.

☆ So you won the lottery. What now?
▼ + stars: | 2022-11-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN Business —So, you won the lottery. Before you broadcast your sudden windfall to the world, and even before you contact lottery officials, you’ll be wise to surround yourself with a team of lawyers and financial advisers. Make copies of both sides of your lottery ticket, and then lock it up somewhere only you can access it. But there’s one big piece of the lottery puzzle that you can’t farm out to lawyers, and that’s your mental health. “The curse of the lottery losers is very real,” Andrew Stoltmann, a lawyer who has represented lottery winners, told CNBC.

☆ Markets will rally into year-end, says Morgan Stanley's Slimmon, who names 3 stocks to buy
▼ + stars: | 2022-11-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The market will rally into the year end, but it won't be led by mega-cap tech stocks, according to Morgan Stanley's Andrew Slimmon. He added that these Big Tech stocks "floated right through" the 2008 global financial crisis because they were still gaining market share. He noted that this time, the bounce has been led by value stocks, while growth stocks drove the summer rally. The outperformance in value stocks has been pretty broad, covering energy, financials and industrials, he said. "While early, we think it makes sense to begin to nibble on early-cycle stocks ... consumer discretionary names that have been crushed," Slimmon added.

☆ The Powerball jackpot is $1.9 billion only if you take the annuity. Here's why the lump sum may be overrated
▼ + stars: | 2022-11-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

It's hard to imagine what it would be like to win Powerball's $1.9 billion prize. "The curse of the lottery losers is very real," said Andrew Stoltmann, a Chicago-based lawyer who has represented several recent lottery winners. One of the very first decisions a winner must make — whether to accept the jackpot as a lump sum or as an annuity — often ends up being their downfall, Stoltmann said. The upfront cash option — which most jackpot winners choose — for this drawing is $929.1 million. Still, "over 90% of winners take the immediate lump sum," Stoltmann said.

☆ Layoffs are picking up. These are the first 3 steps to take after losing your job
▼ + stars: | 2022-11-04 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

In this article UALAALTSLANFLXSHOP-CALYFT Follow your favorite stocks CREATE FREE ACCOUNTWanan Yossingkum | Istock | Getty ImagesThe labor market is still strong, but layoffs are picking up. File to collect unemployment benefits ASAPYou should file for unemployment benefits as soon as possible after a layoff, said Andrew Stettner, the director of workforce policy and senior fellow at The Century Foundation. Even if you received unemployment benefits earlier in the pandemic and are facing joblessness again, you may qualify for more aid. (However, if you have less than $5,000 in the account, the money may be sent to an individual retirement account for you, she added.) However, you won't be able to continue contributing to a plan at a company you're no longer working for.

☆ How a media executive you've never heard of brokered one of the most consequential deals in Hollywood — and brought us 'Seinfeld'
▼ + stars: | 2022-11-04 | by ( Jane Biondi Munna | ) www.businessinsider.com time to read: +9 min

In a new book, Jane Biondi Munna recounts highlights from her father Frank Biondi's career. In a new book, Biondi's daughter, Jane Biondi Munna, recorded and compiled the story of his career. The author, Jane Biondi Munna, and her late father, Frank Biondi. Apparently some guy, some comedy writer, was living in his car — actually living in his car — when he sold the show to Castle Rock, and Castle Rock sold it to NBC. From LET'S BE FRANK: A Daughter's Tribute to Her Father, The Media Mogul You've Never Heard of by Jane Biondi Munna.

☆ Storm clouds gather over the pound as focus turns back to dire economy
▼ + stars: | 2022-11-02 | by ( Harry Robertson | ) www.reuters.com time to read: +4 min

The good news for new Prime Minister Rishi Sunak is that few analysts now expect the pound to fall below parity with the dollar. A warm October has helped natural gas prices fall but a cold winter could drive up the cost of Britain's energy imports again, said Jordan Rochester, currency strategist at Nomura. DOLLAR PRESSURENot all strategists think the pound will return to near the lows seen in September. "The global economy is slowing down and heading for a recession and in such a scenario, the U.S. dollar does tend to outperform," said Alvin Tan, a senior currency strategist at RBC. Further rate hikes from the Federal Reserve, including on Wednesday, are also likely to support the dollar, he said.

☆ If a recession comes, don't count on unemployment insurance — states aren't ready to give you benefits
▼ + stars: | 2022-11-01 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The result: Many states pay little and for fewer weeks, and it takes over a month to get benefits. And, if you do need to access UI benefits, they might not arrive for a while. Right now, according to the TCF report, just 15 states are doing that. Black workers are more likely to live in states with lower benefits. Many states have cut how many weeks workers are eligible for benefits over the last decade or so.

☆ Stock market facing 'major regime shift,' says Morgan Stanley's Andrew Slimmon
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market facing 'major regime shift,' says Morgan Stanley's Andrew SlimmonMorgan Stanley Wealth Management's Andrew Slimmon and UBS Private Wealth Management's Alli McCartney, joins 'Squawk on the Street' to discuss expectations for the FOMC meeting, locating overweight stocks in energy and tech markets, and a recap on Q3 earnings thus far.

☆ Schonfeld is rolling out a team focused on credit in another sign of Wall Street's rising interest in debt investing
▼ + stars: | 2022-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Everybody wants to be a lender these daysStop me if you've heard this before, but a Wall Street firm wants to invest in debt. Schonfeld Strategic Advisors, the $14 billion family-office-turned-hedge fund is building out a new group focused on credit within its macro trading business, Insider reports. A general rule on Wall Street is that firms like to build businesses around complex things. A simple process means it is easily repeatable by someone else, which means more competition, which means smaller margins, which means less profit. The SEC issued $2.2 billion in fines on public companies, including 13 fines larger than $100 million, during its 2022 fiscal year, The Wall Street Journal reports.

☆ Watch CNBC's full interview with Morgan Stanley's Andrew Slimmon and UBS's Alli McCartney
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Morgan Stanley's Andrew Slimmon and UBS's Alli McCartneyMorgan Stanley Wealth Management's Andrew Slimmon and UBS Private Wealth Management's Alli McCartney, joins 'Squawk on the Street' to discuss expectations for the FOMC meeting, locating overweight stocks in energy and tech markets, and a recap on Q3 earnings thus far.

☆ 'Your loved ones will already be in a state of trauma.' The ramifications of dying without a will
▼ + stars: | 2022-10-29 | by ( Deborah Nason | ) www.cnbc.com time to read: +1 min

Burton | The Image Bank | Getty ImagesWhat happens if a loved one dies without a will? Millions of us are bound to find out, as two-thirds of American adults have no will, according to a recent Caring.com study. "But while the court distributes the property, it is ultimately up to the survivors to claim their rights to it," he said. For an intestate situation, the probate court appoints an executor for the estate who will follow a process according to the laws of the state where the deceased lived. "Generally speaking, this process, as a first step, involves identifying the kinship, aka bloodline, of the deceased," Ponnapalli said.

☆ $14 billion Schonfeld is launching a new credit unit as the hedge fund continues its growth tear
▼ + stars: | 2022-10-28 | by ( Alyson Velati | ) www.businessinsider.com time to read: +3 min

$14 billion Schonfeld Strategic Advisors has rolled out a credit unit within its new macro trading business that launched earlier this year. Silverman and Aubrey joined in July and August, respectively, following Anchorage shutting its $7.4 billion hedge fund last December. The expanding credit business is part of Schonfeld's recent growth tear. In January, the firm is rolling out long/short credit strategies across the credit quality spectrum in the US and plans to add APAC and EMEA strategies over time. The HFRI Asset Weighted Index gained 1.1% for September, increasing the year-to-date return to 3.8%, according to Hedge Fund Research data.

The pound touched its highest level since Sept. 13, continuing its rally after Rishi Sunak became Britain's prime minister. U.S. new home sales decreased 10.9% and mortgage rates reached their highest level in 20 years last week, data showed. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rallied more than 1%, while Japan's Nikkei (.N225) hit its highest level since Sept. 20. Market participants became cautious after major state-owned banks were spotted selling the dollar on Tuesday to stabilize the market, traders said. U.S. Treasury yields fell, helped by a weaker dollar and Fed hopes.

The U.S. dollar index fell to a five-week low as the pound touched its highest since Sept. 13, continuing its rally after Rishi Sunak became Britain's prime minister. The Dow Jones Industrial Average (.DJI) rose 0.51%, the S&P 500 (.SPX) lost 0.13% and the Nasdaq Composite (.IXIC) dropped 0.97% at 10:37 a.m. EDT (1437 GMT)MSCI's World Stock Index (.MIWO00000PUS) was up 0.36% and touched a five-week high. Europe's Stoxx 600 (.STOXX) also touched a five-week high in choppy trade. Market participants became cautious after major state-owned banks were spotted selling the dollar on Tuesday to stabilize the market, traders said. Elsewhere in commodities, oil prices rose on the weaker dollar and supply concerns.

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