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☆ Goldman Sachs is having an identity crisis
▼ + stars: | 2023-08-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

I never thought I'd write this but … I miss the old Goldman Sachs. That was the voice of Goldman Sachs 2009 — the adamantine firm that managed to make its way through the crisis relatively unscathed. This sort of dry humor worked back then, but for today's Goldman Sachs, the joke just doesn't hit the same way. Van Praag — who was once dubbed "Goldman Sachs' Rococo PR prince" by The Observer — left the firm in 2012. It would be nice to see the old Goldman Sachs ferocity is still out there somewhere, even if it's not on Wall Street.

Persons: I'd, …, Goldman Sachs, Lucas van Praag, Goldman, van Praag, John F, David Solomon —, Solomon, boardrooms, today's Goldman Sachs, Lucas van Praag's Goldman, —, FactSet, JP Morgan, chuffs, DJ Sol, Van Praag —, Observer —, Jake Siewert, Lloyd Blankfein —, David Solomon's, Michael Kovac, Marcus —, DJ'ing, Goldman's, Lloyd Blankfein, Insider's Dakin Campbell, Kim Kardashian, Morgan Stanley, It's, Trump, Gary Cohn, mathlete who's, it's, Linette Lopez Organizations: Sunday Times of, Bloomberg, Refinitiv, Wealth Management, Observer, Treasury, Blankfein, Bank of America, Ivy League Locations: Wall, Sunday Times of London, New York City, Bahamas, Silicon

☆ Azarenka and Pliskova slog way into second round of rainy Canadian Open
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

[1/3] Aug 7, 2023; Montreal, Quebec, Canada; Victoria Azarenka serves against Magda Linette (POL) (not pictured) in first round play at IGA Stadium. Azarenka was unfazed by the rain, charging ahead 5-2 in the opening set before closing it out with a break just before play was stopped a second time. She romped through the second set, winning 24 of 31 points and breaking Poland's Linette three times. When play restarted, Zhu pounced, winning two points to clinch the tie-break 10-8. But the 31-year-old Czech quickly refocused in the decider, applying pressure and breaking Zhu three times to move onto the second round and a meeting with Polish world number one and reigning US Open champion Iga Swiatek.

Persons: Victoria Azarenka, Magda Linette, Eric Bolte, Karolina Pliskova, Azarenka, Sloane Stephens, Ukraine's, Pliskova, Zhu Lin, Sascha Bajin, Zhu, Zhu pounced, Iga Swiatek, Swiatek, Aryna Sabalenka, Steve Keating, Jamie Freed Organizations: Victoria, IGA, Canadian, Warsaw, Thomson Locations: Montreal, Quebec, Canada, Stuttgart, Pliskova, Czech, Toronto

☆ Elon Musk's scheme to pay big Twitter accounts is rewarding his favorite trolls but probably won't entice major creators
▼ + stars: | 2023-07-14 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Twitter announced Thursday it would start sharing ad revenue with some creators. Elon Musk has started sharing Twitter's ad revenue with a handful of accounts, hoping to incentivize the best creators to put their content on his platform. Twitter announced Thursday that creators would now be eligible to some of the company's ad revenue, "to help people earn a living directly" on the platform. But on the rare occasion Donaldson reveals how much ad revenue he makes, it is surprisingly little. Ad revenue traditionally aids smaller accounts who don't have their own brand deals — YouTube monetization is open to anyone with 1,000 subscribers.

Persons: Twitter, Elon Musk, Taylor Lorenz, Andrew Tate, Ian Miles Cheong, Rogan O'Handley, Tate, Wokeness, He's, It's, Linette Lopez, Paul, — Jimmy Donaldson, MrBeast —, Donaldson, Honey Organizations: Morning, Twitter, Washington Post, YouTube, CSGO Lotto Locations: Romania, TikTok, YouTube, Twitter's

☆ Elon Musk Hasn't Killed Twitter, He's Just Made It Irrelevant
▼ + stars: | 2023-07-12 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It's been less than a year since he bought it, and Elon Musk's Twitter is already well on its way to suffering a fate worse than death — irrelevance. How you do a turnaroundIn the early days of Musk's Twitter takeover, I told you he was overpaying for the company. Unfortunately for Twitter, Musk is not a traditional turnaround guy. Maybe, to Musk, that's a crusade worth sacrificing the very thing that makes Twitter special. Maybe this is the site Musk wanted in the first place.

Persons: It's, Elon, irrelevance, Musk, Ron DeSantis, Rihanna, Mark Zuckerberg's Meta, Alexandria Ocasio, Cortez, Jennifer Lopez, Steph Curry, Donald Trump's, he's, tweeting, Vicki Bryan, Bond Angle, Goldman Sachs, Twitter hadn't, Linda Yaccarino, That's, Bryan, Morgan Stanley, what's, Jack Dorsey, —, Instagram, Lina Khan, hasn't, Meta, Zuckerberg, he'll, Linette Lopez Organizations: Elon Musk's Twitter, Gov, Twitter, Super, Metropolitan Transportation Authority, MTA, Oracle, Google, Fidelity, Wall Street, Pew Research, Pew, Federal Trade Commission, Meta Locations: Florida, Alexandria, New York

☆ The dream scenario for the economy is looking more likely by the day
▼ + stars: | 2023-07-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

The US jobs market is still on 🔥. Still, recent data from the Bureau of Labor Statistics shows a job market that's running hot. Average hourly earnings increased 0.4% month on month and are up 4.4% on last year. The dream scenario for the economy is to get inflation under control without a sharp spike in unemployment or a recession. So far, the job market has remained robust.

Persons: ake, anker, rina, ord, T witter Organizations: Service, uts Locations: Wall, Silicon, usk

☆ Return to Office, Recession Fears End Wall Street's Hamptons Work-From-Home Party
▼ + stars: | 2023-07-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It may seem counterintuitive, but the pandemic was like a brief visit to Shangri-La for Wall Street. For the first time in years, Wall Street has to sing for its supper. A return to the office also means a return to more-classic Wall Street social norms. Wall Street, for all its highfalutin personalities and big paydays, is an apprenticeship system. For Wall Street, the heart of the pandemic was a moment to consider what life would be like at a slower, more-nurturing pace.

Persons: You've, Crypto, Dealmaking, Goldman Sachs, me, Seth Klarman, Klarman, Lee Felty, Harrison, Felty, Jim Chanos, Chanos, Jamie Dimon, David Solomon wouldn't, Fenty, Goldman, Solomon, Wall, Young, It's, Al Mare, Topping Rose, Jean, Georges, Maison, Wall Streeter, Linette Lopez Organizations: Wall, JPMorgan, Hamptons, CNBC, Compass, Chanos, East Hampton, Citigroup, Bloomberg, SoHo Locations: New York, East, Manhattan, Long, Stocks, Bridgehampton, It's

☆ Kontaveit to retire after Wimbledon due to back injury
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

Kontaveit cut her 2022 season short in October and took another two-month break in February to focus on the issue. "I am ready for new challenges after my last effort as a professional tennis player - to enjoy the game and compete as hard as I can at Wimbledon." Kontaveit, now ranked 79th in the world, exited the Australian Open in the second round and has not played since a first-round defeat at the French Open in May. A quarter-final run at Melbourne Park in 2020 is her best Grand Slam result to date. Kontaveit won four titles and reached the WTA Finals in a breakthrough 2021 season and was ranked world number two last September at the U.S. Open, where she lost to Serena Williams in the second round.

Persons: Kontaveit, Poland's Magda Linette REUTERS, Hannah Mckay, Serena Williams, Hritika Sharma, Peter Rutherford Organizations: Melbourne, Wimbledon, Melbourne Park, WTA, U.S ., Thomson Locations: Melbourne, Australia, Instagram, Hyderabad

☆ China’s economy is way more screwed than anyone thought
▼ + stars: | 2023-06-14 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

The bubble in China's property market finally popped. In April, China's economic data came in weak largely across the board. The problem is that while consumers may be picking up, the biggest drivers of the Chinese economy — property and exports — are going to stay dormant. Consumer consumption makes up about 37% of the Chinese economy (in the US that figure is about 70%). Beijing has tried to shift the country toward a consumption model, like the US, but exports still make up 20% of China's economy.

Persons: lockdowns, it's, Xi Jinping, Stanley Druckenmiller, We're, Morgan Stanley, Goldman Sachs, Wei Yao, Leland Miller, Miller, Yao, Wright, I've, —, Kearney, Linette Lopez Organizations: Trade, JPMorgan, Bloomberg Invest Conference, Bank of America's, China's National Bureau, Statistics, Societe Generale, Analysts, Beijing, China, Chinese Communist Party, China's Locations: China, globalism, Beijing, York, Asia

☆ Matt Onofrio quickly made millions as a real-estate influencer. Then he was indicted for bank fraud.
▼ + stars: | 2023-06-04 | by ( Matt Turner | ) www.businessinsider.com time to read: +6 min

That was the verdict a top tech executive shared with me recently, describing the impact he predicted AI would have on the workforce. The unfolding situation has the potential to cast Onofrio as a real-estate confidence man for the influencer age. Also read:Wall Street's new normalPeople walk by a Lamborghini car along Wall Street in Manhattan. In that environment, any fool — or anyone on Wall Street — could buy almost any asset, sit back, and watch its value increase. Wall Street is hoping that — and investing like — we're going back to that era sometime soon.

Persons: Matt Turner, Nicholas Braun, Greg Hirsch, AI's, Lance McMillan, Matt Onofrio, he'd, Spencer Platt, There's, Insider's Linette Lopez, ANDREW CABALLERO, REYNOLDS, OPMs, Spriha Srivastava, OpenAI, Nicole Miranda, Elizabeth Holmes, Hallam Bullock, Bob Bryan, Hana R, Alberts Organizations: Toronto Star, Getty, Lamborghini, Getty Images, Tech Locations: California, Midwest, Manhattan, Washington ,, Florida

☆ Stock Market Chaotic New Normal Will Screw Over Wall Street Investors
▼ + stars: | 2023-06-04 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

Wall Street desperately wants the stock market to go back to the good ol' days. In that environment, any idiot — or anyone on Wall Street — could buy almost any asset, sit back, and watch its value increase. In this scenario, the stock market gets choppy. It was a pull-in-case-of-emergency valve that we pulled for so long that now it feels normal to Wall Street. Despite this constant caterwauling from Wall Street, Americans are working, spending, and helping the economy defy doom-and-gloom forecasts.

Persons: Justin Simon, Jasper Capital, that's, hasn't, it'll, Richard Hayne, —, haven't, Joe Weisenthal, Richard Haynes, Torsten Slok, Simon, Linette Lopez Organizations: Street, San Francisco Fed, Fed, Urban Outfitters, Auto, Walmart, Bloomberg, Urban, NASDAQ, Federal, Apollo Global Management Locations: Jasper, Wall Street, American

☆ Mirra Andreeva, 16, continues meteoric rise by advancing to French Open third round
▼ + stars: | 2023-06-01 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +1 min

CNN —Russian teenager Mirra Andreeva has continued her meteoric rise by reaching the third round of the French Open with an emphatic 6-1 6-2 win over France’s Diane Parry. The 16-year-old, who celebrated her birthday in April, is now the youngest player to reach the third round at Roland Garros since 2005, according to the WTA. Andreeva, the youngest player in this year’s main draw, took only 77 minutes to defeat wild card Parry and secure her sixth top 100 win of the season. Andreeva had already become the seventh youngest player this century to beat a top 20 player, according to the WTA, when she beat world No. Andreeva, who was unranked 14 months ago, entered her first Grand Slam at Roland Garros this year.

Persons: Mirra Andreeva, France’s Diane Parry, Roland Garros, Parry, Andreeva, Beatriz Haddad Maia, Ian MacNicol, Leylah Fernandez, Magda Linette, Alison Riske, Coco Gauff, Julia Grabher Organizations: CNN, WTA, Madrid, ITF Locations: Madrid

☆ 10 Things in Tech: Amazon Web Services salaries, Elon Musk returns to Tesla, and a ‘secret’ ChatGPT prompt library
▼ + stars: | 2023-05-16 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

I'm Diamond Naga Siu, and I don't dream of labor (I do occasionally have dreams about writing the newsletter). And hiring managers told my colleague Aki Ito that it's currently incredibly difficult to find and hire enough qualified people. The country that wins the competition over the batteries of the future will not only control the electric vehicle market. Lopez gives us a front-seat look at the landscape of the critical EV battery market. A leaked email revealed that Musk now wants to approve all new hires — including contractors — at Tesla.

☆ The one crucial industry where China is crushing America in the Tech Cold War
▼ + stars: | 2023-05-16 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

As of now, CATL has 13 factories worldwide that supply batteries for Tesla, Toyota, and Daimler. And thanks to its ownership of its battery supply chain, it's able to make cars cheaply. Stevenson-Yang sees parts of China's battery supply chain as the next glut it will need to dump. But the potential of a battery supply glut tomorrow doesn't help carmakers meet their needs today. "But if we're looking at evolutionary improvements, China Battery Inc. will still dominate.

☆ 10 Things in Tech: Androids v. iPhones in ‘Succession,’ AI tools besides ChatGPT, and a check signed by Steve Jobs
▼ + stars: | 2023-05-09 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

It's reportedly frustrating customers who are prompted to add a tip when they haven't interacted with the people they're tipping. Before I begin discussing eradicating tipping culture (and replacing it with a living wage for workers), let's dive into today's tech. But the hype cycle around generative AI — that started with ChatGPT — threw them a lifeline. AI tools — besides ChatGPT — to boost your productivity. A $175 check signed by Steve Jobs is up for sale.

☆ Silicon Valley's Hail Mary moment
▼ + stars: | 2023-05-07 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Silicon Valley has entered the Hail Mary phase of its business cycle — a desertic part of a tech-industry downturn where desperation can turn into recklessness. Don't fear the robotsTo understand the Hail Mary moment, it's important to understand the actual capabilities of technology these tech titans are touting. Again, what Musk is describing is AI general intelligence — something much more advanced than the generative AI OpenAI is building on at the moment. During the pandemic when governments were handing out cash and people were stuck at home, the world bought everything Silicon Valley was selling. But those are exactly the types of workers getting laid off in Silicon Valley right now.

☆ Mirra Andreeva celebrates her 16th birthday and another astonishing victory at the Madrid Open
▼ + stars: | 2023-04-30 | by ( Aimee Lewis | ) edition.cnn.com time to read: +1 min

CNN —It has been quite the weekend for Russian teenager Mirra Andreeva. On Saturday she celebrated her 16th birthday and also continued her remarkable progress at the Madrid Open. Andreeva, ranked world No. The Russian was runner-up at this year’s junior Australian Open and now has 16 professional wins to her name. “I didn’t expect to be here and playing Sabalenka in the round of 16,” Andreeva told the Tennis Channel, according to the WTA.

☆ U.S. finishes Billie Jean King Cup qualifying unbeaten
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Each best-of-five series consists of two singles matches on the first day, then the reverse singles matches followed by a doubles match on the second day. The doubles match pitting Juvan and Zidansek against Irina Bara and Monica Niculescu was suspended at 3-3 in the first set. Jule Niemeier posted a three-set win over Beatriz Haddad Maia, and then Anna-Lena Friedsam lost only one game in defeating Laura Pigossi. Kazakhstan's Elena Rybakina handed Poland's Magda Linette her second loss in two days to clinch the 3-1 series win in Astana, Kazakhstan. After Fernandez's three-set win over Ysaline Bonaventure, Belgium's Greet Minnen again knotted the match with a three-set win over Katherine Sebov.

☆ Kazakhstan through to Billie Jean King Cup finals, France ease past Britain
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

[1/5] Tennis - Billie Jean King Cup Qualifiers - Kazakhstan v Poland - National Tennis Centre - Beeline Arena, Astana, Kazakhstan - April 15, 2023 Kazakhstan's Elena Rybakina celebrates with teammates after winning her singles match against Poland's Magda Linette REUTERS/Pavel MikheyevApril 15 (Reuters) - Kazakhstan advanced to the Billie Jean King Cup finals for the second time after defeating Poland 3-1 in their qualifier on Saturday while France brushed aside last year's semi-finalists Britain. Wimbledon champion Elena Rybakina had helped Kazakhstan build a 2-0 lead on Friday and the world number seven had no trouble dispatching Magda Linette 6-4 6-2 to give her side an unassailable lead in Astana. The best-of-five qualifiers featured two singles matches on Friday and two reverse singles plus a doubles rubber on Saturday. Poland, without injured world number one Iga Swiatek, finally got on the board as Weronika Falkowska and Alicja Rosolska won 6-4 6-4 in what was essentially a dead rubber. Garcia got the double break and the world number five served out the set to secure France's place in the Finals.

☆ Wall Street Elite Investors Will Profit From Banking Crisis, Stock Market Chaos
▼ + stars: | 2023-03-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

Dumb because they were run by bankers who failed to do the business of banking or manage risk. But other investors, the kind of Wall Street sharks who thrive on uncertainty, stand to make a killing. While some of the sharper investors on Wall Street see this mess as an opportunity, chaos cannot suit everyone. Last week the Federal Reserve reiterated its commitment to fighting inflation and continued to hike interest rates. The new rules — higher interest rates — will remain for the foreseeable future.

☆ Fintech has a fraud problem, and the onus is on you to figure it out
▼ + stars: | 2023-03-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Fintech's fraud misfortune. Which brings us to a story by Insider's Bianca Chan and Paige Hagy about concerns over the prevalence of fraud within consumer-facing fintechs in recent years. Click here to read more about fintech's fraud problem. We've also got the deck StellarFi, a fintech that helps users improve their credit score, used to raise $15 million. For more than 50 different decks used by fintechs to raise fresh funds, check out our library.

☆ Goldman Sachs isn't getting a new private jet, but are there better places to cut costs on Wall Street?
▼ + stars: | 2023-03-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

If there is a senior Goldman Sachs' executive in your life, please keep them in your thoughts and prayers. Insider's Dakin Campbell has the scoop on Goldman nixing plans to buy a third corporate aircraft under CEO David Solomon. So as the bank has looked to cut costs this year more broadly, the private jets, naturally, were a topic of discussion. I will say, I think corporate jets have been unfairly labeled as the poster child for excessive spending at the corporate level. Now, regional banks are looking to serve the firms looking for a new banking home, per The Wall Street Journal.

☆ TikTok wants its advertisers to know the 'myths vs. facts' after its CEO's day in Congress
▼ + stars: | 2023-03-28 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Now, it seems, TikTok wants to clear up some facts that lawmakers may have gotten wrong. TikTok wants to clear up "Myth vs Fact." After the TikTok CEO's 5-hour hearing at Congress last Thursday, the company wants to reassure advertisers that it'll be fine. The document states: "TikTok does not permit any government to influence or change its recommendation model." Advertisers make up a large chunk of TikTok's user base, which the company says is now at 150 million monthly active users in the US.

☆ Red alert recession signals
▼ + stars: | 2023-03-26 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Everyone is back to talking about a recession. This week's dispatchFed Chair Jerome Powell Joshua Roberts/Reuters2023 started with fresh hope that the US could avoid a recession. That has big name investors and market signals predicting a recession, and soon. "Red alert recession signals," Gundlach said. Even Powell's preferred bond-market indicator says a recession is on the way this year.

☆ I Visited Miami After the Stock Market Crash, Crypto Bubble Pop
▼ + stars: | 2023-03-26 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

And if any city is the city where you can see just how remarkably things have shifted, it's also Miami. If the draw in the 1920s was imaginary land, Miami's bubble in the 2020s was driven by imaginary money — crypto. The newcomers — and the crypto kids, especially — believed they could master Miami as easily as they had mastered the markets. The new Miami money party started to run out of libations. "There were a lot of true believers in the Miami crypto scene.

☆ Potapova upsets Gauff in third-round Miami thriller
▼ + stars: | 2023-03-25 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

March 25 (Reuters) - Russian Anastasia Potapova produced some of her best tennis to upset American Coco Gauff 6-7(8) 7-5 6-2 in a third-round thriller at the Miami Open on Saturday. "I had this belief in me that I can do this, that I just wanted to fight through and just to show my best tennis and not focus on the score," she told the Tennis Channel. Up 5-2 in the first set, it looked as though it might be an easy day for Potapova. But world number six Gauff turned the tables when she converted break point chances in the ninth and 11th games and closed the tiebreak with a lethal backhand. She failed to earn a single break point as Potapova dropped only one first-serve point and won the final five games.

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