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[1/3] The U.S. corporate due diligence firm Mintz Group's office is seen in Hong Kong, China, May 18, 2023. No one was present when Reuters visited the Hong Kong office of Mintz during business hours, with the doors locked and lights off. China's State Council Information Office, the Ministry of Foreign Affairs and the Hong Kong and Macau Affairs Office did not respond to Reuters requests for comment. The Hong Kong government said it did not comment on individual business decisions. Reporting by James Pomfret in Hong Kong, Engen Than in Shanghai and Hong Kong Newsroom; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Inflation is cooling — but many items aren’t cheaper. Here’s why
▼ + stars: | 2023-05-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

Instead, the pace of price increases slowed from a year ago. But they may be suffering from even bigger price increases for margarine, which was up 24%. Poorer households spend a greater portion of their income on unavoidable expenses like food and gas, which makes them more vulnerable to price increases. Not everything is responding well to interest rate hikesThe Federal Reserve spent the past year hiking interest rates in the interest of lowering inflation. When the Fed raises interest rates, it costs more for banks and other lenders to borrow money.

☆ Fmr. Chief of Staff Mick Mulvaney: we likely won't get a deal on the debt ceiling at meeting
▼ + stars: | 2023-05-08 | 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 EmailFmr. Chief of Staff Mick Mulvaney: we likely won't get a deal on the debt ceiling at meetingChris Campbell, Kroll chief policy strategist, John Hope Bryant, Operation Hope chairman and CEO, and Mick Mulvaney, fmr. White House chief of staff, join 'Last Call' to discuss the upcoming debt ceiling meeting and what a default could mean for the U.S. economy.

☆ Watch CNBC's full interview with Mick Mulvaney, Chris Campbell, and John Hope Bryant
▼ + stars: | 2023-05-08 | 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 Mick Mulvaney, Chris Campbell, and John Hope BryantChris Campbell, Kroll chief policy strategist, John Hope Bryant, Operation Hope chairman and CEO, and Mick Mulvaney, fmr. White House chief of staff, join 'Last Call' to discuss the upcoming debt ceiling meeting and what a default could mean for the U.S. economy.

☆ Wages and Prices Slow Unevenly, Reflecting ‘Rocky and Bumpy’ Economy
▼ + stars: | 2023-04-28 | by ( Ben Casselman | Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Inflation isn’t as high as it was last year. The economy is slowing down. But none of this is happening as quickly or as smoothly as Federal Reserve officials would like. “We knew that inflation was going to be rocky and bumpy,” said Megan Greene, chief economist for the Kroll Institute. That was the slowest pace of inflation in nearly two years, down from a peak of 7 percent last summer.

☆ Single-family rentals were stars of real estate during the pandemic. Now the sector faces its biggest challenges yet.
▼ + stars: | 2023-04-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

The SFR sector is facing fresh challenges this year, however, two KBRA analysts said. If you were an institutional investor looking to invest in real estate during the height of the pandemic, single-family rental properties were probably on your list. Home prices were rising quickly, and borrowing costs were low, underpinning the fundamentals of residential real estate. What's more, real estate research and investment-banking firm Zelman & Associates has estimated there's $110 billion in investor capital waiting to be spent on homes. Labor and supply costs have risen consistently, and massive home price appreciation is resulting in higher real estate taxes.

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☆ Failed crypto exchange FTX's spectacular collapse was due to 'hubris, incompetence, and greed,' says first debtors' report
▼ + stars: | 2023-04-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

On Sunday, its debtors released their first report on the collapse of the crypto exchange. The report alleged a lack of controls including in management, governance, and accounting. Read further for the three key allegations from the debtors' report. The report alleged the management and governance of FTX were largely limited to Bankman-Fried, Singh, and Wang. The report also alleged FTX failed to put in place "basic, widely accepted" security controls to safeguard its crypto assets.

☆ Companies That Went Public via SPACs Log Billions of Dollars in Goodwill Write-Downs
▼ + stars: | 2023-04-07 | by ( Mark Maurer | ) www.wsj.com time to read: +1 min

Cryptocurrency platform Bakkt Holdings, which listed on the New York Stock Exchange in October 2021 after merging with a special-purpose acquisition company, recorded a $1.51 billion pretax goodwill impairment for the following year. Companies that went public through mergers with special-purpose acquisition companies in recent years booked billions of dollars in goodwill write-downs in 2022, reflecting in part a reckoning of the heady premiums paid to secure deals during the SPAC boom. Some of the biggest goodwill impairments in 2022 came from SPAC-backed companies like cryptocurrency platform Bakkt Holdings Inc., business-services provider Advantage Solutions Inc., 3-D printing firm Fathom Digital Manufacturing Corp., self-driving vehicle startup Aurora Innovation Inc. and now-bankrupt bitcoin miner Core Scientific Inc., according to financial and risk advisory firm Kroll LLC. Each of these five companies’ pretax impairments exceeded $1 billion last year.

☆ Watch CNBC's full interview with Hoover Institute's Tyler Goodspeed and Kroll Global's Megan Greene
▼ + stars: | 2023-03-31 | 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 Hoover Institute's Tyler Goodspeed and Kroll Global's Megan GreeneTyler Goodspeed, Hoover Institution fellow, and Megan Greene, Kroll global chief economist, join 'Squawk Box' to discuss what investors are trading on today, whether inflation should be the most important thing for the Fed, and more.

☆ The Fed will continue rate hike path 'full steam ahead': Kroll's Megan Greene
▼ + stars: | 2023-03-31 | 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 EmailThe Fed will continue rate hike path 'full steam ahead': Kroll's Megan GreeneTyler Goodspeed, Hoover Institution fellow, and Megan Greene, Kroll global chief economist, join 'Squawk Box' to discuss what investors are trading on today, whether inflation should be the most important thing for the Fed, and more.

Economists who obsess about tightly calibrating the quantity of money in the system balk at QE as a tool. Two weeks of turmoil in mid-sized U.S. banks follow just nine months in which the Fed had been winding down its outsize balance sheet that peaked near $9 trillion during the pandemic. "Illiquidity episodes may force central banks to slow the process of reserve withdrawal. Reuters GraphicsILLIQUIDTY EPISODESThis could become a trap that prevents normalisation of the balance sheet longer term, they said. Better-measured and more forward-looking liquidity regulations, incentives for longer-duration deposits during QE bouts and rethinking stress tests were all options, they wrote.

☆ Two former SEC and Treasury officials discuss the Justice Department's SVB investigation
▼ + stars: | 2023-03-15 | 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 EmailTwo former SEC and Treasury officials discuss the Justice Department's SVB investigationJacob Frenkel, Dickinson Wright Partner and Fmr. SEC Division of Enforcement Sr. Counsel Member, and Chris Campbell, Kroll Chief Strategist and Fmr. Assistant Secretary of the US Treasury for Financial Institutions, weigh in on the federal investigation into Silicon Valley Bank.

☆ Jerome Powell should go with 25 basis points and stay with the strategy, says Brean's John Ryding
▼ + stars: | 2023-03-14 | 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 EmailJerome Powell should go with 25 basis points and stay with the strategy, says Brean's John RydingMegan Greene, Kroll Global chief economist and Brown senior fellow, and John Ryding, Brean Capital chief economic advisor, join 'Squawk Box' to discuss their thoughts on what the Federal Reserve should do in taming inflation, what caused Silicon Valley Bank collapse, and more.

NEW YORK (Reuters) -U.S. authorities were preparing “material action” on Sunday to shore up deposits in Silicon Valley Bank (SVB) and stem any broader financial fallout from its sudden collapse, sources familiar with the matter told Reuters. Biden administration officials worked through the weekend to assess the impact of startup-focused lender SVB Financial Group’s failure on Friday, with a particular eye on the venture capital sector and regional banks, the sources said. REUTERS/Nathan FrandinoAnd amid increased withdrawals from other regional banks, U.S. officials are also keeping close watch on the wider sector. The S&P 500 regional banks index dropped 4.3% on Friday to end the week down 18%, its worst week since 2009. Signature Bank, First Republic Bank, PacWest Bank and Charles Schwab did not immediately respond to requests for comment.

The Federal Deposit Insurance Corporation (FDIC), which was appointed receiver, was trying to find another bank over the weekend that was willing to merge with Silicon Valley Bank, people familiar with the matter said on Friday. However, it was not clear if regulators would have political support to throw a lifeline to the bank, which catered to Silicon Valley startups and investors. Silicon Valley Bank had an unusually high level of deposits that were not covered by the FDIC's guarantees, which are capped at $250,000. Signature Bank, First Republic Bank, PacWest Bank and Charles Schwab did not immediately respond to requests for comment. "Silicon Valley had a unique business model that was less dependent on retail deposits than a traditional bank."

The sketch series is the sequel to Mel Brooks' classic movie, "History of the World, Part I." The first two episodes of "History of the World, Part II" debuted March 6 on Hulu. How to watch 'History of the World, Part II'"History of the World, Part II" is now available to watch exclusively on Hulu. Can I watch 'History of the World, Part II' for free? Where can I watch 'History of the World, Part I'?

☆ ‘History of the World, Part II’ Review: Mel Brooks Blazes Back to the Past
▼ + stars: | 2023-03-03 | by ( John Anderson | ) www.wsj.com time to read: +1 min

‘I’m American treasureMel Brooks ,” announces the writer, director, producer and comedy institution as he introduces his 40-years-in-the-awaiting “History of the World, Part II” on Hulu. To others, merely a legend.” As prepared as a viewer might be to laugh out loud, he or she will still laugh out loud. If Mr. Brooks hadn’t titled his 1981 comedy “History of the World, Part I,” there wouldn’t have been decades of speculation about whether a sequel ever would be made. Why has Mr. Brooks produced one now, at the age of 96? “No repeats.” Neither condition is met entirely, but that was a choice of Mr. Brooks, who serves here as a writer and executive producer.

☆ HQ Trivia imploded fast but its legacy lives on
▼ + stars: | 2023-03-03 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +5 min

But like HQ Trivia, these efforts rarely seem to last. Video Ad Feedback What is HQ Trivia 02:32 - Source: CNNThe short life of HQ TriviaTwice a day, for 30 minutes, the world stopped as players watched one or more people receive what could be a significant amount of money instantaneously on HQ Trivia – and viewers had their own shot at the pot, too. Unlike HQ Trivia, however, Wordle does not require its users to share that experience at the exact same moment in the day. BeReal may arguably be HQ Trivia’s most lasting legacy, despite it not being a trivia game. The aim is different – creating authenticity – but like HQ Trivia, it prompts users to be in the moment.

☆ Amazon Studios is growing fast and spending big on shows like 'Citadel,' but insiders say unclear creative direction, leadership shifts, and tech bureaucracy threaten to drive away staff and talent
▼ + stars: | 2023-02-10 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +20 min

The dust has been settling at Amazon Studios after a big reorg in the fall that solidified Jen Salke's power. Yet Amazon Studios faces major challenges. Amazon Studios' Head of Global Television Vernon Sanders told Insider that the goal is to deliver content with global cultural relevance. Amazon Prime VideoWhile spending on such big swings has soared, some insiders see far less budgetary support for underrepresented casts. "I do think people wonder what's the commitment to Amazon Studios," the current insider said.

"It's going to take some time" for disinflation to spread through the economy, Powell said in a news conference following the Fed's latest quarter-point interest rate increase. He said he expects a couple more rate hikes still to go, and, "given our outlook, I just I don't see us cutting rates this year." Rate cuts, they expect, will start in September - a view Powell said Wednesday is driven by the expectation of fast-receding inflation. Since the 1990s, the interlude between rate hikes and rate cuts has varied from as long as 18 months in 1997-1998 to as short as five months in 1995. The Fed, Powell said Wednesday, cannot risk doing too little.

☆ Recession this year will be short and shallow, says Kroll Global's Greene
▼ + stars: | 2023-01-04 | 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 EmailRecession this year will be short and shallow, says Kroll Global's GreeneMegan Greene, Kroll Global chief economist and Brown senior fellow, joins 'Squawk Box' to discuss if 2023 will be a year of declining inflation, who to blame for recent market action and more.

☆ Inflation struggles, China's Covid: What to watch for in the economy in 2023
▼ + stars: | 2022-12-31 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

But economists and CEOs warn the economy will remain on shaky ground in 2023, which could mean another turbulent year for consumers. After months of strict lockdowns that caused rolling disruptions to supply chains and greatly stifled demand from Chinese consumers, China began lifting its Covid restrictions in recent weeks. “The most important thing for 2023 is by far China’s Covid policy,” Dan Klein, the head of energy pathways at S&P Global Commodity Insights. Covid infections have continued to shut down factories around the world, aggravated by China’s loosening of Covid restrictions. In the meantime, with demand outstripping supply, car prices are up by nearly 24% over the past two years.

☆ 'One of our best years on record': With VC deals on the decline, venture-debt investors are cleaning up. But there's a dark side to startups borrowing cash.
▼ + stars: | 2022-12-27 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

As the Fed keeps raising interest rates to fight inflation, venture-debt defaults could soon go up. Venture debt, like a typical venture-capital investment, involves betting big on fledgling startups that may be far off from profitability. In the first six months of the year, venture debt increased 7.5%, even as VC funding fell 8% over the same period. The year for debtArmentum's Markell said venture debt had exploded in popularity this year as traditional VC deals dwindled and startup valuations plummeted. Factoring in expected Fed rate rises, Kroll thinks these interest rates will climb to as much as 12% next year.

☆ LendingClub’s New CFO Tasked With Preparing Its Balance Sheet for a Downturn
▼ + stars: | 2022-12-22 | by ( Kristin Broughton | ) www.wsj.com time to read: +7 min

Drew LaBenne, LendingClub’s chief financial officer since September, is tasked with managing the San Francisco-based company’s balance sheet as it faces a downturn and an industry pullback in demand for loans from investors. We use the marketplace, which is essentially whole loan sales to buyers, or we use the balance sheet. We make on average close to three times as much by putting a loan on the balance sheet versus selling it. Why not just keep all of them on your balance sheet? A lot of that was driven by the upfront CECL [charge] of the loans that we put on the balance sheet.

☆ Economists think inflation has peaked. Main Street is preparing for more pain
▼ + stars: | 2022-12-10 | by ( Ian Thomas | ) www.cnbc.com time to read: +2 min

An overwhelming majority (78%) of America's entrepreneurs say they expect inflation to continue to rise, according to the quarterly CNBC|SurveyMonkey Small Business Survey. That is effectively unchanged from last quarter when 77% said they expected inflation to continue to rise. Regardless of the economic tailwinds, inflation remains top of mind for small business owners. More small business owners (45%) now say inflation is the biggest risk to their business than tracked in any of the previous recent quarterly survey. The CNBC|SurveyMonkey Small Business Survey for Q4 2022 was conducted Nov. 9-Nov. 16 among nearly 2,600 small business owners.

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