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Budrul Chukrut | Lightrocket | Getty ImagesAt midnight on Tuesday, the moderators of the Reddit community r/Gaming decided to go dark. "We're talking hundreds of thousands of volunteers putting in hours a day to keep the site safe, entertaining and enjoyable for community members. As a private company, Reddit doesn't have to disclose its financials or provide revenue and profit projections. "You have a lot of people, both professionals and general community members, who are running the numbers on this," Croach said. Jacqueline Sheeran, known as "MCHammerCurls," is the head moderator of r/Fitness, which has more than 10 million members.

Persons: Budrul, Dacvak, Slack, weren't, Croach, Reddit, Christian Selig, Selig, Steve Huffman, Huffman, Horacio Villalobos, subreddits, they're, –, David DeWald, subreddit, Shane McCarthy, McCarthy, Meepster23, ModCoord, Omar, Jacqueline Sheeran, Sarah Gilbert, Gilbert, Huffman's, RamsesThePigeon, that's, there's Organizations: Lightrocket, Reddit, CNBC, Facebook, Twitter, YouTube, Google, Amazon, Yahoo, Microsoft, Corbis, NBC, Wall, NBC News, Cornell University, school's Citizens, Technology Locations: U.S, Lisbon, Portugal

☆ Here are Tuesday's biggest analyst calls of the day: Tesla, Apple, FedEx, Adobe, AT&T, Coinbase and more
▼ + stars: | 2023-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America upgrades McCormick to buy from underperform Bank of America said it sees an improved cost outlook for McCormick. "Our prior Underperform rating was predicated on negative revision risk to revenues and margins. Bank of America upgrades Molson Coors to neutral from underperform Bank of America said Molson is poised for share gains after the Bud controversy. Bank of America upgrades Cigna to buy from neutral Bank of America said it sees an attractive risk/reward outlook for the stock. Piper Sandler reiterates Tesla as overweight Piper said Tesla shares aren't cheap but is standing by its overweight rating.

Persons: D.A, Davidson, Goldman Sachs, it's, We're, McCormick, Molson, Bud, MoffettNathanson, JPMorgan Chase downgrades Cabot, JPMorgan Chase, Cabot, Morgan Stanley, AMCX, Piper Sandler, Tesla, Piper, Mizuho, Coinbase, … Organizations: . Deutsche Bank, Shell Deutsche Bank, Shell, Apple, Holdings, Bank of America, underperform Bank of America, Molson Coors, Bud Light, Barclays, Adobe, " Bank of America, of America, JPMorgan, FedEx, UPS, RBC, AMC Networks, UW, U.S . Securities, Exchange, SEC, Binance Locations: Washington, Americas, China

☆ Bourse operator ASX takes action for trading software's operational reliability
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Australia's bourse operator ASX Ltd (ASX.AX) said on Monday it had submitted a special report for its Clearing House Electronic Subregister System (CHESS) software to the country's corporate regulator and the Reserve Bank of Australia. The report outlines details about the operator's arrangement to support and maintain CHESS to ensure it remained operational until a replacement is implemented. In December, the Australia Securities and Investments Commission along with the central bank, ordered ASX to submit a report ensuring stability of its trading system after a failed attempt by the bourse operator to replace its ageing software. The platform has been in need of an upgrade after many incidents of glitches, including one in November 2020 when an issue in the new equities trading platform halted trading for 20 minutes on the day it went live. Reporting by Navya Mittal in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Navya Mittal, Rashmi Organizations: Reserve Bank of Australia, Australia Securities, Investments, bourse, IT, Thomson Locations: Australia's, Bengaluru

☆ ‘It’s About Connections’: Alicia Graf Mack Remakes Juilliard Dance
▼ + stars: | 2023-06-02 | by ( Brian Seibert | ) www.nytimes.com time to read: +2 min

The Juilliard dance department, under her leadership, seems like a happy place. Raised in Columbia, Md., she joined Dance Theater of Harlem at 17 and was an immediate standout: a tall, long-limbed, exceptionally graceful ballerina. Told she was too tall by American Ballet Theater and New York City Ballet, Mack reinvented herself again, becoming a star of Alvin Ailey American Dance Theater and greatly expanding her stylistic range into modern, contemporary and hip-hop. Asked back by the Ailey company, she squeezed out a few more years, then moved into teaching dance at Washington University and Webster University in St. Louis. A child of professors, she found her “happy place” at universities, she said, and realized that helping serious students on the cusp of their careers was what she wanted to do.

Persons: Mack, ”, “, Alvin Ailey, St . Louis Organizations: Juilliard, Dance Theater of Harlem, Columbia University, American Ballet Theater, New York City Ballet, Alvin Ailey American Dance Theater, Ailey, Washington University, Webster University Locations: Columbia, Md, St .

☆ Huawei launches in-house software system after being cut off from US services
▼ + stars: | 2023-04-20 | by ( David Kirton | ) www.reuters.com time to read: +2 min

ERP software is used by companies to manage key business operations ranging from accounting to supply chain management. "We were cut off from the old ERP system and other core operation and management systems three years ago," said Tao Jingwen, a Huawei board member and president of its quality, business process and IT management department. The in-house Meta-ERP has been rolled out across 80% of the company's business, Huawei said in a news release. The cut off was a "massive crisis" for Huawei, Tao said in his speech, saying that the old system had been core to the company's operations for over two decades. Huawei's 'meta-ERP' system is a 'cloud-native' product, which uses the company's cloud-computing systems for greater efficiency than traditional ERP products, the person said.

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, UPS, Netflix, WW, Disney & more
▼ + stars: | 2023-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley names UnitedHealth a top pick Morgan Stanley says the healthcare company is best positioned in a recession. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley said Netflix is the "streaming winner" but that it's "priced as such." Morgan Stanley downgrades Nasdaq to equal weight from overweight Morgan Stanley said that it has growth concerns for the exchange operator. JPMorgan upgrades Federated Hermes to overweight from underweight JPMorgan said the rate environment makes the capital market company's stock more attractive. Morgan Stanley upgrades AstraZeneca to overweight from equal weight Morgan Stanley said the pharmaceutical company is "leading the race" to outsmart cancer.

☆ Chinese lenders focus on risk management amid global banking crisis
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 3 (Reuters) - China's top lenders should enhance risk management practices and be more sensitive to macroeconomic fluctuations, senior Chinese banking officials said, in response to a global banking sector crisis that has roiled financial markets. The collapse of Silicon Valley Bank (SVB) suggests banks should strictly abide by the regulatory requirements and measures of risk management, Xie Xiaoxue, from China Construction Bank Corp's (CCB) credit management department, said. "China's commercial banks should constantly improve the organisational structure of risk management and strengthen risk governance with sound and prudent measures," Xie wrote. Executives at China's big five banks said during annual results last week the lenders have limited exposure to the banking crisis. Xie said that Chinese banks should fully use stress tests and other tools to measure the impact of economic fluctuations and the changes in market participants' financial situations.

As an immigrant from Vietnam, my mom doesn't have a credit score and has no intention of getting one. When I wanted to build credit, I looked toward community-oriented resources like public libraries and local churches. Owning land was considered a major asset, and homes built on that land served as collateral on borrowed money. My parents came from large families who supported themselves through agrarian means, so they rarely had any need for borrowed money. We have a greater understanding of how credit scores are calculated and more resources geared toward people who have been previously excluded from credit building.

☆ 20 years of digital transformation, as seen by an IT expert
▼ + stars: | 2023-03-17 | by ( Sponsor Post | Created Insider Studios With Goto | ) www.businessinsider.com time to read: +7 min

Back then, the average person would hear the term "remote support" and probably think it meant getting help for their TV controller. Jaromi said he has seen teams increase their productivity between 20% to 50% by letting GoTo Resolve's efficiencies work for them. For SMBs, GoTo Resolve can often be their main IT presence. But Rescue and GoTo Resolve have constantly stayed a step ahead, building in the most secure layers possible. Looking to the futureOver his 18 years at GoTo, Jaromi has seen the company endure significant changes, from being an upstart innovator to an established industry leader.

As part of the overhaul announced in October, it is seeking to spin off merger advice and leveraged finance into a new entity named Credit Suisse First Boston (CSFB), for which it has been seeking buyers. Credit Suisse is most valuable in separate parts, and there are high-level M&A talks taking place, said a senior banker who advises banks on deals. TAKEOVERSelling off parts of Credit Suisse could require time, which markets may not give. The two have complementary investment banking businesses -Credit Suisse is stronger in credit and UBS in equities. However, some have faith that Credit Suisse can still make it safely to the end of the tight rope.

☆ A top-5% fund manager shares 4 reasons why he's getting optimistic about the economy after hiding nearly half of his assets in cash last summer — and details 6 of his favorite stocks to buy now
▼ + stars: | 2023-02-22 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund manager Jeff Muhlenkamp put about half of his fund into cash last summer. Last summer, Jeff Muhlenkamp was so concerned about the US economy that he put nearly half of his fund's assets into cash. But in recent months, Muhlenkamp has moved more money into select stocks — even though he acknowledges that there are still lingering risks for stocks and the economy. "You're seeing buyers come back into the market," Muhlenkamp said. Lastly, Microsoft is like Apple in that it's a mature mega-cap company with profitable businesses that produce tons of cash, Muhlenkamp said.

☆ CVS digs into primary care with $9.5 bln Oak Street Health deal
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

Feb 8 (Reuters) - CVS Health Corp (CVS.N) said on Wednesday it would buy Oak Street Health Inc (OSH.N) for about $9.5 billion in cash, expanding its healthcare services by adding hundreds of primary care clinics mostly for older people. Shares of the primary care firm rose 5% before the bell. The Oak Street deal echoes similar moves by rivals into primary care. Walgreens Boots Alliance (WBA.O) and Cigna (CI.N) have made investments in primary care provider VillageMD, and Amazon (AMZN.O) announced a $3.49 billion deal last year to buy One Medical (ONEM.O) to expand into the space. UnitedHealth Group Inc (UNH.N) also runs urgent care, primary care and surgical care centers.

☆ Cigna beats quarterly profit expectations as COVID medical costs fall
▼ + stars: | 2023-02-03 | by ( Leroy Leo | ) www.reuters.com time to read: +2 min

[1/2] A screen displays the logo for Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid/File PhotoCompanies Cigna Corp FollowFeb 3 (Reuters) - Cigna Corp (CI.N) beat Wall Street estimates for quarterly profit on Friday, aided by a sharp fall in medical costs due to lower COVID-19-related hospitalizations. The company's annual profit forecast of at least $24.60 per share was marginally below expectations of $24.84 per share. The insurer forecast medical care ratio of 81.5% to 82.5% for 2023, compared with Wall Street estimate of 81.9%. Excluding one-off items, the company reported a profit of $4.96 per share in the fourth quarter, beating analysts' average estimate by 10 cents.

☆ UnitedHealth quarterly profit beats as medical costs stay low
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Companies UnitedHealth Group Inc FollowJan 13 (Reuters) - UnitedHealth Group Inc (UNH.N) on Friday reported a quarterly profit that beat Wall Street estimates, helped by lower medical costs and a boost from its Optum health services unit, which operates the company's pharmacy benefit management business. Health insurers' costs have been in flux during the pandemic, but have eased over the past year as COVID-related hospitalizations have fallen from their peak. Revenue from Optum rose 16.5% to $47.87 billion, aided by strong growth in its health service and pharmacy benefit management business. Optum includes the company's pharmacy benefit management business that helps negotiate the terms of coverage between health insurers, their clients and drug manufacturers. Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Patrick Foto/Getty ImagesAdding a child to your credit card as an authorized user can help them establish a credit history. Minimum age for credit card authorized usersThe major credit card issuers allow you to add minors as authorized users, but several have minimum age limits. Benefits of adding a child as an authorized userAlong with potentially giving your child a head start on building credit, adding them as a credit card authorized user has other benefits. Credit cards can teach financial responsibilityHaving an authorized user credit card can help show young adults how to use credit responsibly. Having a credit card in their own name can be handy, especially in cases where a merchant won't take a parent's credit card number over the phone.

☆ Leaked documents show Amazon's seller lending business is booming. But the company's economists are worried about defaulters.
▼ + stars: | 2023-01-04 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon economists expect its seller lending volume to roughly double this year. Amazon's lending business has rebounded in recent years after scaling back during COVID. Amazon's lending program is part of a broader business to business payments and lending team, known internally as ABPL. The company's economists are forecasting that third-party sellers will owe it over $2 billion over the next year, according to internal document obtained by Insider. The potential growth in loans signals a continued rebound of Amazon's lending business.

More than 40 million borrowers like Morales-Bartlett were eligible to cancel up to $20,000 in federal student loan debt under President Joe Biden’s one-time student loan forgiveness plan. Meanwhile, the pandemic-era federal student loan repayment pause has been extended while the government awaits the court’s decision. The average federal student loan debt nears $30,000. Brown’s son still has about $50,000 in student debt despite being one of the thousands of North Carolinians who received some student loan relief as part of a multistate settlement with Navient, one of the nation’s largest student loan servicers, over allegations of unfair and deceptive student loan servicing and predatory lending practices, according to Pennsylvania Attorney General Josh Stein's office. He also applied to the currently blocked student loan forgiveness program and is waiting to hear back.

Wall Street analysts put four Club holdings — Apple (AAPL), Amazon (AMZN), Procter & Gamble (PG) and Honeywell (HON) — under the microscope Tuesday. Club take: We continue to see Amazon's cloud business as the industry leader that repeatedly outperforms peers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Analysts have been debating the demand for Apple's iPhone 14 models amid a backdrop of rampant inflation, rising interest rates and fears of a global recession.

☆ Pacific Life Insurance Names New Tech Chief From USAA
▼ + stars: | 2022-11-16 | by ( Belle Lin | ) www.wsj.com time to read: +3 min

She replaces Mike Shadler, who has served as CIO since 2018 and plans to retire at the end of the year, a spokesperson for the life insurance company said. She will report directly to Pacific Life Chief Executive Darryl Button. Still, many life insurers aren’t meeting customer expectations in terms of speed of service and method of communication, said Ted Epps, Global Life Insurance Technology Leader at Ernst & Young. Insurance technology is “the convergence of modern digital experiences and advice with proven products,” Mr. Epps said. Prudential Financial Inc. is using more digital and cloud-based tools for managing expenses and financial planning, chief financial officer Ken Tanji told The Wall Street Journal in February.

Nov 2 (Reuters) - CVS Health Corp (CVS.N) on Wednesday forecast a 2023 profit below Wall Street estimates and said it hoped to mitigate the hit from a performance rating decline for its most popular Medicare plan by encouraging members to shift to other plans. read more CVS took a pre-tax charge of $5.2 billion in the third quarter related to the settlement. The settlement price, which was below investor expectations, according to Evercore ISI analyst Elizabeth Anderson, and other measures announced by the company helped lift CVS Health shares nearly 5%. In its insurance business, CVS said it is trying to move members out of Aetna's National PPO plan, which currently accounts for 59% of its Medicare Advantage plan members. CVS' health insurance business as well as peers Elevance Health (ELV.N) and UnitedHealth (UNH.N) have benefited from a slow recovery in elective procedures and a fall in COVID cases that has kept costs in check.

☆ CVS Health lifts forecast as PBM, insurance units drive profit beat
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

Nov 2 (Reuters) - CVS Health Corp (CVS.N) on Wednesday raised its annual profit forecast after topping quarterly estimates on strong performance at its health insurance and pharmacy benefit management businesses, sending its shares up 1% in premarket trade. CVS' health insurance business benefited from a slow recovery in elective procedures and a fall in COVID cases, which kept costs in check, as did peers Elevance Health (ELV.N) and UnitedHealth (UNH.N). Revenue from the insurance and pharmacy benefit management businesses rose around 10% each, while retail and pharmacy sales gained about 7%. Excluding some one-off items, CVS Health reported a profit of $2.09 per share, compared with analysts' average estimate of $1.99 per share. It removes an "overhang" on CVS and is lower than investor expectations, Evercore ISI analyst Elizabeth Anderson said in a note.

☆ IBM salaries revealed: Engineers can earn nearly $200K. See how much analysts, managers, and others at the tech giant make.
▼ + stars: | 2022-10-27 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +15 min

IBM is among the oldest and largest computer companies in the world and has more than 350,000 employees. These offers must be equal to what US employees earn making them a great guide to employee salaries at the company. When Insider analyzed IBM salary data in 2021, the highest offer was to an engineering program director, earning $335,000. A technical team lead, for instance, earned $57,500 in Monroe, LA, and as much as $114,500 in Parsippany, NJ. Insider has also compiled a database of salaries across other big tech companies like Google, Apple, Tesla, Amazon, and more.

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☆ U.S. says seven board directors resigned under antitrust pressure
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 19 (Reuters) - Seven directors on the boards of five companies have resigned because of the U.S. Justice Department's concerns over the directors holding similar board positions at rival companies, the department said on Wednesday. Two others representing Thoma Bravo on the SolarWinds board also resigned, the department said. SolarWinds said in a legal filing dated Oct. 14 that the three board members had decided to resign after receiving a letter from the Justice Department alleging that their board service broke antitrust law. A spokesperson for Udemy said a director stepped down on Sept. 23 because of U.S. Justice Department concerns. Directors also resigned from the board of Definitive Healthcare (DH.O), Redwire Corp (RDW.N) and CTS Corp (CTS.N) because they were on the boards of competing companies, the department said.

☆ Baristas in San Francisco went on strike. Their robot co-workers went right on serving
▼ + stars: | 2022-10-18 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

For three days last month, 1,000 food-service workers at SFO went on strike over wages and working conditions. For decades, robots have been replacing, or at least nudging aside, human labor. But at SFO, robot baristas didn't simply replace humans — they crossed a picket line. Cafe X robot baristas stayed on the job when food-service workers went on strike at San Francisco International Airport last month. The short version is: Every new robot per thousand human workers reduces employment by 0.2 percentage points and decreases wages by 0.42%.

☆ Analysis: Lula, Bolsonaro and market look to cure Brazil consumer debt hangover
▼ + stars: | 2022-10-17 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +7 min

With nearly 70 million Brazilians blacklisted by credit agency Serasa, owing 290 billion reais ($54.4 billion), debt relief is smart politics in a closely fought presidential campaign, ahead of an Oct. 30 runoff vote. Advisers say he would focus first on 95 billion reais of unpaid bills accumulated by families earning up to 3,600 reais ($676) per month. Later steps would focus on incentives to restructure bank debt, for this population. Looking to steal his thunder, right-wing incumbent Jair Bolsonaro announced a program offering a sharp discount on bank debts. But the scope is far more modest, applying to some 4 million borrowers from state bank Caixa Economica Federal, which estimated about 1 billion reais of restructuring.

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