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☆ Meet Russell Horwitz, the ex-Goldman partner who is stepping in as David Solomon's chief of staff at a vulnerable time for the CEO
▼ + stars: | 2023-08-08 | by ( Dakin Campbell | Kaja Whitehouse | ) www.businessinsider.com time to read: +7 min

Russell Horwitz has been named David Solomon's new chief of staff at a difficult time for the CEO. Russell Horwitz, a partner and former chief of staff to CEO Lloyd Blankfein, is returning to the firm after roughly two years away. Another, Jake Siewert, left Goldman for Warburg Pincus in June 2021. Horwitz left soon after. He has Washington experienceLike Rogers, Horwitz also has a past working in Washington DC.

Persons: Russell Horwitz, David Solomon's, Horwitz, Goldman, John F, Rogers, Goldman Sachs, Lloyd Blankfein, David Solomon, John Rogers, Jon Corzine, Ronald Reagan, Gerald Ford, Joshua Roberts, Solomon, John Waldron, Fiona Carter, Carter, Dina Powell McCormick, Gregg Lemkau, Byron Trott, Jake Siewert, Warburg Pincus, Blankfein, He's, Ken Griffin, John, David, Pablo Salame, Umesh Subramanian, Arthur Levitt Organizations: Goldman, The New York Times, Reuters, BDT, MSD Partners, Miami . Partners, Citadel, Citadel Horwitz, Washington DC, Securities and Exchange Commission, Clinton Locations: Miami, Citadel's, Washington

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

☆ American Airlines says in talks with Airbus, Boeing over narrowbody jet order
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

An American Airlines aircraft flies past JetBlue and United Express aircraft as it lands at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File PhotoAug 2 (Reuters) - American Airlines (AAL.O) said on Wednesday that it is in talks with planemakers Airbus (AIR.PA) and Boeing (BA.N) over a new narrowbody jet order, at a time when airlines rush to order more aircraft amid a travel boom. Bloomberg News earlier reported that the airline was in talks with the companies to order at least 100 jets, citing people familiar with the matter. "We are talking to Boeing and Airbus about our narrowbody aircraft needs for the latter half of this decade and beyond," American said in a statement. Airbus, when contacted by Reuters, said "we have no comment on our confidential commercial talks, which may or may not be happening."

Persons: Joshua Roberts, Max, Airbus's, Nathan Gomes, Tim Hepher, David Shepardson, Milla Nissi Organizations: American Airlines, JetBlue, United Express, Reagan National Airport, REUTERS, Airbus, Boeing, Bloomberg, Reuters, Thomson Locations: Arlington , Virginia, U.S, Bengaluru, Paris, Washington ,

[1/2] An American Airlines aircraft flies past JetBlue and United Express aircraft as it lands at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File PhotoBOSTON/WASHINGTON, July 26 (Reuters) - A federal judge on Wednesday rejected the Justice Department's bid to restrict JetBlue Airways (JBLU.O) and American Airlines (AAL.O) from entering into any partnerships with other carriers akin to their now-scrapped Northeast Alliance. JetBlue and American Airlines are winding down their arrangement announced in 2020, in which they joined forces for flights in and out of New York City and Boston. While the Northeast Alliance is set to be fully wound down by January, the Justice Department has been pushing for further restrictions on the two airlines. Daniel Wall, a lawyer for American Airlines, called the appointment of monitor highly unusual and said restrictions on deals with other airlines was a step too far.

Persons: Joshua Roberts, Department's, Judge Leo Sorokin, William Jones, Sorokin, Jones, Daniel Wall, Nate Raymond, David Shepardson, Richard Chang, Diane Craft Organizations: American Airlines, JetBlue, United Express, Reagan National Airport, REUTERS, BOSTON, JetBlue Airways, Alliance, Massachusetts, Justice Department, Spirit Airlines, Department, Northeast Alliance, Airlines, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York City, Boston ., Boston, Washington

☆ Wall St Week Ahead Investors brace for earnings from ‘Magnificent Seven’ US growth giants
▼ + stars: | 2023-07-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

[1/5] Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. In the S&P 500, the seven stocks comprise 27.9% of the index's weight. Investors will look beyond second quarter results, said Bill Callahan, an investment strategist at Schroders. The Elon Musk-led company this month said it delivered a record number of vehicles in the second quarter. The equal-weight S&P 500 (.SPXEW), a proxy for the average stock, is modestly beating the S&P 500 over the past month -- up 3.6% versus about 3% for its counterpart.

Persons: Joshua Roberts, BofA, Bill Callahan, “ It’s, ”, Tajinder Dhillon, Tesla, Elon, Thomas Martin, Martin, Yu Ma, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: Apple Inc, REUTERS, Apple, Microsoft, Nvidia, BofA, Research, Meta, Globalt Investments, Strong U.S, BMO Wealth Management, Thomson Locations: Washington , U.S, U.S, ”

☆ These rich and famous people got burned by investing hundreds of millions in Elizabeth Holmes' Theranos
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Here are some who got burned by Theranos, from the Walton family to Rupert Murdoch. Rupert Murdoch invested $125 million in Theranos. Julio Cortez/APThe DeVos familyThe DeVos family, who are heirs to the Amway empire and includes former US Secretary of Education Betsy DeVos, poured $100 million into Theranos. Joshua Roberts/ReutersThe Cox familyTheranos also got $100 million from the Atlanta-based billionaire Cox family, which owns the media and automotive company Cox Enterprises. The Cox family was the eight-wealthiest in the US as of 2020, with a net worth of $34.5 billion at the time, according to Forbes.

Persons: Elizabeth Holmes, Theranos, Walton, Rupert Murdoch, Holmes, Ramesh, Sunny, Balwani, Forbes —, Murdoch, Julio Cortez, Betsy DeVos, they're, Joshua Roberts, Cox, Carlos Slim Carlos Slim, América, Andreas Dracopoulos, Stavros Niarchos, Robert Kraft, It's, Kraft, Tom Brady, Matt Slocum, Alan Eisenman Alan Eisenman, Eisenman Organizations: Morning, Wall Street, Walmart, Forbes, Rupert Murdoch Media, Street, Amway, Cox Enterprises, Stavros Niarchos Foundation, Robert Kraft New England Patriots, Bloomberg, New England Patriots, CBS Locations: Theranos, Atlanta, Latin America, Mexico, FTX

☆ Jim Brown, legendary NFL running back, dead at 87
▼ + stars: | 2023-05-19 | by ( Bill Trott | ) www.reuters.com time to read: +7 min

[1/2] Former NFL football player Jim Brown speaks after meeting with U.S. President Donald Trump at the White House in Washington, U.S., October 11, 2018. Brown led the NFL in rushing in eight of his nine seasons and was voted the league's most valuable player four times. "I didn't retire because I was broken down and slow," Brown told Sports Illustrated in 2015. "I was basically a proponent of economic development as a way to equality, social equality," Brown told the Cleveland Plain Dealer in 2013. The NFL this year honored Brown by renaming the league's rushing title the Jim Brown Award.

☆ Big bank earnings season is over. Here's how our stocks stack up against peers
▼ + stars: | 2023-04-23 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Big bank earnings are behind us. Investment banks Goldman Sachs (GS) and Club holding Morgan Stanley (MS) are the two pure-play investment banks we care about. Third place was tight, but the combination of better earnings growth and a significantly better ROTCE made Bank of America (BAC) the better performer. Sizing up bank valuations Morgan Stanley is currently trading at a premium at 13.7 times forward earnings, compared to 10.3 for GS. Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting in Washington, October 10, 2014.

[1/3] U.S. President Joe Biden attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022. But all that new construction has a real estate problem. That would be a problem for the Biden administration, which has pushed through legislation to fuel the developments. A White House official said it was a "high-class problem" to have, adding: "Folks are finding places to build. The governors of South Carolina, Virginia and North Carolina have each proposed to spend hundreds of millions of dollars on readying industrial sites in the coming years.

REUTERS/Joshua Roberts/File PhotoWASHINGTON, April 13 (Reuters) - The FBI on Thursday arrested an employee of the U.S. Air Force National Guard over the leaks online of classified U.S. documents that embarrassed Washington with allies around the world. U.S. Attorney General Merrick Garland said the FBI arrested the man, Jack Teixeira, "in connection with an investigation into alleged unauthorized removal, retention, and transmission of classified national defense information." The FBI said its agents had made an arrest and were conducting "authorized law enforcement activity at a residence in North Dighton, Massachusetts." The leaks were a "deliberate, criminal act," the Pentagon said. President Joe Biden earlier on Thursday said investigators were closing in on the source of the online leaks in what is believed to be the most serious security breach in years.

☆ Apple Music down for thousands, other services also affected
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. REUTERS/Joshua Roberts/File PhotoApril 10 (Reuters) - Apple Inc's (AAPL.O) music service was facing issues, the iPhone-maker said on its status page on late Monday, while users reported issues with various other services of the company. According to outage tracking website Downdetector.com, services including the support service and Apple store were down for thousands. More than 3,300 users reported issues with streaming Apple Music at the peak of outage, while nearly 2,200 reported problems with App Store in the United States. Apple's status page indicated that Apple Music, Apple Music Radio, and iTunes Match were facing an ongoing "outage."

☆ McDonald's temporarily shuts US offices, prepares layoff notices, Wall Street Journal reports
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts/File PhotoApril 2 (Reuters) - Burger chain McDonald's Corp (MCD.N) is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported on Sunday. "During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization," the Chicago-based company said in the message viewed by the Journal. McDonald's also asked employees to cancel all in-person meetings with vendors and other outside parties at its headquarters, the report added. McDonald's is expected to begin announcing key decisions by Monday.

☆ 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.

☆ Adam Sandler honored with Kennedy Center's Mark Twain Prize
▼ + stars: | 2023-03-20 | by ( Jeff Mason | ) www.reuters.com time to read: +3 min

[1/5] Actor and comedian Adam Sandler waves as he is awarded the Mark Twain Prize for American Humor at the Kennedy Center in Washington, U.S., March 19, 2023. REUTERS/Joshua RobertsWASHINGTON, March 19 (Reuters) - Actor and comedian Adam Sandler became the 24th recipient of the Kennedy Center's Mark Twain Prize for American Humor on Sunday, at an evening event featuring stars Jennifer Aniston, Chris Rock and Conan O’Brien to celebrate his comedy and career. With the White House a short distance from the Kennedy Center, some presenters touched on politics. Sandler joins the ranks of other comedians who have received the Mark Twain Prize, including Jon Stewart, Dave Chappelle, Julia Louis-Dreyfus, David Letterman, Carol Burnett, Eddie Murphy and Ellen DeGeneres. The prize is named after novelist and essayist Samuel Clemens, better known by his pen name, Mark Twain.

☆ Warren urges Powell to recuse from SVB probe, demands answers of ex-bank CEO
▼ + stars: | 2023-03-14 | by ( Pete Schroeder | ) www.reuters.com time to read: +3 min

Senator Elizabeth Warren on Tuesday called on Federal Reserve Chair Jerome Powell to recuse himself from an internal review of recent bank failures, saying his actions "directly contributed" to them. The Federal Reserve said on Monday it is reviewing its oversight of the bank in the wake of its abrupt failure Friday. Warren argued that Powell's prior support for easing bank rules indicates he should not participate in the review. For the Fed’s inquiry to have credibility, Powell must recuse himself from this internal review," she said in a Twitter post. Reporting by Doina Chiacu and Pete Schroeder; Editing by Susan Heavey and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024
▼ + stars: | 2023-03-06 | by ( David Marchese | ) www.nytimes.com time to read: +23 min

Photo illustration by Bráulio Amado Talk Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024For a good long time during the George W. Bush and Obama presidencies, Paul Ryan was considered one of the intellectual leaders and shining stars of the Republican Party. Get out of this race.” But I don’t think Trump is going to get the nomination. I don’t think we want the lack of liberty that comes with government-made equality. Where I part company with the left is I don’t believe in socialism. I don’t believe in equality of outcomes.

☆ Morning Bid: A new R*
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Joshua RobertsA look at the day ahead in European and global markets from Wayne Cole. While it held rates at 3.5% as expected, the commentary warned that restrictive policy would be needed for a "considerable time". Indeed, it's looking like global supply chains will never be the same, what with the pandemic, the Russian-Ukraine war and Sino-U.S. tensions. Most developed nations also face a decline in working-age populations and sharply rising dependency ratios. All of which suggests higher inflation is here to stay and the neutral level of real interest rates has shifted upward.

/USThe dollar index fell 0.21% from one-month highs, while the Japanese yen gained 1.21% to 131.08 per dollar after unusually strong Japanese wage data. The Australian dollar bolted 1.02% higher after its central bank reiterated further increases would be needed. Asian stocks stabilized overnight after they, like most global share markets, suffered steep losses following that U.S jobs data. Oil prices climbed more than 3% after Powell eased market concerns over rate hikes, while recovering demand in China also boosted prices. Gold eked out gains, tracking a slight pullback in the dollar, as investors mulled comments by Powell and the outlook for the Fed's rate-hike policy.

U.S. and European equity markets were mixed to lower, with the euro and pound lower against the dollar. The broad pan-European STOXX 600 index (.STOXX) was up 0.04% and MSCI's gauge of global stock performance (.MIWD00000PUS) shed 0.12%. "What's been really important is that the market sees a lower likelihood of rate cuts by the end of the year." Asian stocks stabilized overnight after they, like most global share markets, suffered steep losses following that U.S jobs data. "Sentiment in markets is dominated by central banks and the repricing of rates yet again," Kerry Craig, JPMorgan Asset Management's global market strategist, said.

☆ Sell-off fizzles out ahead of Fed, ECB and BoE speeches
▼ + stars: | 2023-02-07 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

[1/2] The Federal Reserve building is seen in Washington, U.S., January 26, 2022. Then comes Federal Reserve Chairman Jerome Powell at the Economic Club of Washington during U.S. trading plus U.S. President Joe Biden's State of the Union address. DEADLY QUAKEAmong the main commodities, oil jumped for a second straight session driven by optimism about recovering demand in China, and after Monday's devastating earthquake in Turkey had shut down one of the region's major oil export terminals. "Equities have had a strong run since the start of the year so seeing an air pocket emerge now is no major surprise." Additional reporting by Scoot Murdoch in Sydney; Editing by Simon Cameron-Moore and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Central banks hike rates again, but a pause is coming
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Joshua RobertsLONDON, Feb 2 (Reuters) - Major central banks are steadily moving closer to a pause in their aggressive interest rate hiking campaigns. The European Central Bank and the Bank of England raised rates on Thursday, but markets suspect a peak is nearing. Overall, 10 big developed economies have raised rates by a combined 2,965 basis points in this cycle to date, with Japan the holdout dove. Canada's central bank has raised its policy rate at a record pace of 425 basis points in 10 months. The central bank raised its forecast for its peak interest rate to 5.5%, up from a previous forecast of 4.1%.

☆ Abortion opponents push post-Roe agenda at annual Washington march
▼ + stars: | 2023-01-20 | by ( Gabriella Borter | ) www.reuters.com time to read: +3 min

[1/2] Women's March activists hold signs outside the White House in the wake of the U.S. Supreme Court's decision to overturn the landmark Roe v Wade abortion decision in Washington, D.C., U.S., July 9, 2022. With that goal now accomplished after the U.S. Supreme Court threw out Roe's precedent and gutted federal abortion rights last June, the leaders of March For Life hope to galvanize support for state and federal legislation placing further limits on abortion. Michigan voters approved a state constitutional amendment last November to enshrine abortion rights. This year's national march will take place two days before Jan. 22, which would have been the 50th anniversary of the Roe v. Wade decision. Abortion rights advocates were marking the occasion by reflecting on the enormous disruption in reproductive healthcare that the United States has witnessed over the last year, and calling for more legislation to protect abortion rights at the state and national level.

☆ In tribute to rights leader King, Biden invokes 'battle for the soul of this nation'
▼ + stars: | 2023-01-15 | by ( Steve Holland | ) www.reuters.com time to read: +3 min

Marking Monday's national holiday celebrating King, Biden delivered a sermon at Ebenezer Baptist Church at the invitation of its pastor, Democratic U.S. King worked for voting rights, Biden said, but "we do well to remember that his mission was even deeper. King was pastor of Ebenezer church from 1960 until his death. "The battle for the soul of this nation is perennial," Biden said in his tribute to King. Many presidents, including Biden, have visited Ebenezer to honor King, usually during events around the time of his birthday.

☆ Republicans want Biden home visitor logs - but not Trump's
▼ + stars: | 2023-01-15 | by ( Doina Chiacu | ) www.reuters.com time to read: +4 min

Republicans have sought to compare the Biden documents case with that of former President Donald Trump, who faces a federal criminal probe of how he handled classified documents after he left the White House. Comer said he would not seek visitor logs for Trump's Mar-a-Lago residence, where more than 100 classified documents were found in an FBI search. There is no legal requirement that U.S. presidents disclose visitors at their home or at the White House. The Biden administration reinstated disclosures of official guests to the White House and released its first batch of records in May 2021. TRUMP VS. BIDEN DOCUMENT ISSUESRepublicans in the U.S. House of Representatives launched an investigation on Friday into the Justice Department's handling of improperly stored classified documents possessed by Biden.

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