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☆ The biggest risk to markets is if the U.S. avoids a recession, strategist warns
▼ + stars: | 2023-07-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Stock markets could suffer if the United States economy sidesteps a recession that many believe is just around the corner, according to Investec equities strategist Roger Lee. Lee said the market is bracing itself for a recession within the next year, a prediction he called the "most widely forecast recession in history." Paradoxically therefore, the greatest risk to U.S. markets is if the recession risk recedes. The implications of this could potentially lead to a downturn in both equities and bond markets, according to the strategist. "Paradoxically therefore, the greatest risk to U.S. markets is if the recession risk recedes," Lee added.

Persons: Roger Lee, Lee, Investec's Lee, —, treasuries, it's, Jeff Cox Organizations: HSBC, CNBC, Dow Jones, Treasury Locations: United States, U.S, London, America

☆ AI is already linked to layoffs in the industry that created it
▼ + stars: | 2023-07-04 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

Some 212,294 workers in the tech industry have been laid off in 2023 alone, according to data tracked by Layoffs.fyi, already surpassing the 164,709 recorded in 2022. But in the shadow of those mass layoffs, the tech industry has also been gripped by an AI fervor and invested heavily in AI talent and tech. Roger Lee, a startup founder who has been tracking tech industry layoffs via his website Layoffs.fyi, also runs Comprehensive.io, which examines job listings and compensation data across some 3,000 tech companies. Those looking to thrive in the tech industry and beyond may need to brush up on their AI skills. It’s not that everyone needs to become AI specialists, Wang added, but rather that workers should know how to use AI tools to become more efficient at whatever they’re doing.

Persons: Arvind Krishna, Barrons, Krishna, Dropbox, ”, Drew Houston, “, Dan Wang, ” Wang, Mark Zuckerberg, Roger Lee, Lee, Wang, It’s, That’s Organizations: CNN, Bloomberg, Columbia Business School, Layoffs.fyi, Microsoft, Machine Locations: OpenAI, Silicon Valley

☆ This Wall Street bank's stock is expected to double over the next year, Jefferies says
▼ + stars: | 2023-06-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of global bank Barclays are forecast to more than double over the next 12 months, according to Jefferies. The British bank's stock has underperformed and is valued below its peers over the past few months. The disparity has led to the bank reportedly hiring consulting firm BCG to undertake a strategic review to address weaknesses in the share price. The bank's analysts predict that Barclays can potentially buy back £2.2 billion worth of shares in 2024 and 2025, along with £1.5 billion this year. As the bank's earnings increase, its share price could also rise, providing a better return for shareholders.

Persons: Jefferies, Joseph Dickerson, Benjamin Toms, Roger Lee Organizations: Barclays, BARC, Jefferies, RBC Capital Markets, RBC, Investec Securities Locations: London, United States, British, U.K

☆ The Book That Changed Robert Rubin’s Thinking About Poverty
▼ + stars: | 2023-06-15 | by ( ) www.nytimes.com time to read: +2 min

In addition to the subject’s fascinating life — among much else, she was Virginia Woolf’s muse and longtime lover — I always enjoy books about that era. What’s the most interesting thing you learned from a book recently? I recently finished a book called “1215: The Year of Magna Carta,” by Danny Danziger and John Gillingham. Our political system and government. You’ll find more recent examples of the genre — especially those by David Baldacci and Daniel Silva — on my shelves, too.

Persons: Victoria Glendinning, ”, Vita, —, Danny Danziger, John Gillingham, I’d, Roger Lowenstein, who’s, Federal Reserve —, haven’t, Chris Whipple’s, Coffin, Dimitrios, Eric Ambler, Helen MacInnes, You’ll, David Baldacci, Daniel Silva — Organizations: Bloomsbury Group, Magna Carta, Wall Street, The Times, Federal Reserve, Scottish Locations: Vita Sackville, West, England, Virginia, Scottish American

☆ Roger Craig, Teacher of an Era-Defining Pitch, Is Dead at 93
▼ + stars: | 2023-06-04 | by ( Richard Goldstein | ) www.nytimes.com time to read: +2 min

After pitching in the Dodgers’ minor league system and serving in the Army, Craig made his debut with Brooklyn in July 1955. He pitched for the Dodgers again in the 1956 World Series, taking the loss in Game 3 of the seven-game series win for the Yankees. in shutouts, with four, as the Dodgers won their first pennant in Los Angeles. Craig pitched mostly in relief before he was chosen by the Mets as their No. The Mets traded Craig to the Cardinals before the 1964 season, and he won Game 4 of the World Series in relief as St. Louis beat the Yankees in seven games.

Persons: Mike Scioscia, Roger Lee Craig, John, Mamie Craig, Craig, Connie Mack, Hobie Landrith, Elio Chacon, Louis Organizations: Dodgers, Angels, Associated Press, North Carolina State University, Dodgers ’, Army, Brooklyn, Yankees, Philadelphia Phillies, Chicago White Sox, Mets, Houston, Cardinals, Cincinnati Reds, Phillies Locations: Durham, N.C, North, Los Angeles

☆ The Bearer of Bad News
▼ + stars: | 2023-05-05 | by ( Lora Kelley | ) www.nytimes.com time to read: 1 min

A short list of moments in the day when Roger Lee is thinking about layoffs: while waiting for someone to show up to a Zoom call. Though Mr. Lee, 36, reads bad news constantly, he remains a stalwart optimist about tech. He recognizes the pain that layoffs cause, but he also believes the industry will “100 percent” bounce back. And Mr. Lee believes that talking openly about layoffs in the industry he loves is healthy. If people are speaking openly about layoffs, he reasons, workers can find new jobs efficiently.

☆ Why Warren Buffett Runs Berkshire Hathaway His Way - The New York Times
▼ + stars: | 2023-05-02 | by ( Roger Lowenstein | ) www.nytimes.com time to read: +3 min

Not surprisingly, Mr. Buffett has become a target for progressive institutional investors. (A resolution calling for Mr. Buffett to step down as board chairman, though not as C.E.O., fared the worst.) CalPERS, which manages retirement funds in California, demands that Berkshire publish an annual “assessment” on how it manages climate risks. (This is a good place to note: I’m not only a Warren Buffett biographer, I’m also a long-term Berkshire stockholder.) Mr. Buffett was the son of a conservative Republican who served four terms in Congress.

☆ Biden set to address White House Correspondents Dinner
▼ + stars: | 2023-04-29 | by ( Maegan Vazquez | ) edition.cnn.com time to read: +9 min

But undoubtedly, a White House official told CNN, his speech will address the issue of wrongfully detained Americans abroad. US President George W. Bush, left, waves with impressionist Steve Bridges at the White House Correspondents' Dinner in 2006. Roger L. Wollenberg/Pool/Getty Images The White House Correspondents' Dinner is held in 1923. It was started two years earlier by the White House Correspondents' Association, the organization of journalists who cover the president. Roosevelt was congratulating Brandt for winning the first Raymond Clapper Memorial Award, which was given by the White House Correspondents' Association for distinguished reporting.

☆ More persistent inflation might be an unintended consequence of banking turmoil: Investec
▼ + stars: | 2023-04-03 | 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 EmailMore persistent inflation might be an unintended consequence of banking turmoil: InvestecRoger Lee, head of U.K. equity strategy at Investec, explains how inflation could be impacted by the recent turmoil in the banking sector and compares the situation to 1998.

Britain and Norway hiked rates by 25 bps each, the Swiss National Bank jacked up rates by 50 bps. The European Central Bank hiked rates by 50 bps a week ago. ClearBridge strategist Jeffrey Schluze said, European banking regulation since the global financial crisis has been more stringent than in the United States, making the outlook for European lenders relatively strong. While banking stocks have been battered globally, the S&P 500 is up 0.5% this month (.SPX), while Europe's STOXX 600 index down 3.2% (.STOXX). CHANGE IN TONEBefore the banking turmoil, markets were driven by one-way moves as high inflation pressured U.S. and European markets.

Meanwhile, extremely wide forecasts for new public borrowing requirements make the outlook for government bonds uncertain. Here are the main budget predictions for UK stocks, gilts and the pound. However NatWest analysts flagged that the OBR will likely revise down growth forecasts for the next five years, making the outlook for interest rates finely balanced. Hunt will likely keep the budget "reasonably dull" after Truss's "mini-budget" sent sterling to its lowest on record, she added. Investors in UK stocks are already grappling with a wide valuation gap with U.S. equities.

☆ Stocks that did well last year will do well this year, strategist says
▼ + stars: | 2023-02-27 | 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 EmailStocks that did well last year will do well this year, strategist saysRoger Lee, head of U.K. equity strategy at Investec, shares his views on the diverging fortunes of U.S. and U.K. stock markets.

☆ Biggest risk for UK stocks right now? There's no recession, strategist says
▼ + stars: | 2023-01-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

An employee views a FTSE share index board in the atrium of the London Stock Exchange Group Plc's offices in London, U.K., on Thursday, Jan. 2, 2020. Bloomberg | Bloomberg | Getty ImagesLONDON — The biggest risk to the U.K. stock market is avoiding a widely anticipated recession, according to Roger Lee, head of U.K. equity strategy at Investec. The Bank of England has projected that the U.K. has already entered its longest recession on record. Higher interest rates are negative for growth-oriented stocks as the value of their future earnings is diminished in today's money. Growth stocks contribute a far higher proportion of the U.S. market than in the U.K.watch now

☆ The creator of tech's big layoff tracker says more cuts are on the way—here's when it could slow
▼ + stars: | 2023-01-11 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

And more than 18,000 tech workers have been laid off in the first half of January from major players like Amazon and Salesforce. More big layoffs are probably on the way, says Roger Lee, the creator of Layoffs.fyi and a San Francisco-based HR tech founder. Despite the recent deluge of layoffs, Lee says there's some hope the current wave of cuts could slow. "There's obvious correlation between the Fed raising interest rates and these tech companies doing layoffs," Lee says. It's important to remember that the overall job market is pretty strong, and tech workers losing their jobs are getting hired again quickly.

☆ What Apple, Google and other Big Tech companies are paying, based on new salary transparency data
▼ + stars: | 2023-01-06 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

It just got a lot easier to see how much some of the biggest tech companies in the world pay, thanks to a rollout of new salary transparency laws across the country. As of Jan. 1, California and Washington joined New York City and Colorado in legally requiring employers to post salary ranges on their job ads. Data is based on job posts from over 700 of the top tech companies and startups, accounting for more than 53,000 active listings. As of this week, Comprehensive.io says 39% of tech companies are complying with California's new salary range law. In New York City, which rolled out its legislation on Nov. 1, 63% of tech companies are complying.

☆ A new website compiles salaries for jobs at 700 top tech firms, from Amazon to Google — see what your job is worth
▼ + stars: | 2023-01-05 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

A new website is compiling salaries for tech jobs at hundreds of industry giants and top startups. Comprehensive.io aggregates pay data from the careers pages of tech employers like Amazon and Google. If you're job searching, you can find the average pay range for a specific role under "Popular Job Titles," based on pay data from various companies. Note that Comprehensive.io currently only gives results for California and New York City tech jobs. As more pay data becomes available, it will track salaries at more tech employers and branch into other industries as well, Lee says.

Police arrived at the rental house in Moscow, Idaho, where four University of Idaho students had been fatally stabbed hours prior in their bedrooms, to find friends and neighbors gathered outside. The neighborhood was “very, very somber.”The small police force scrambled for an “all hands on deck” response, which Lanier said included calling the Idaho State Police for help to process the scene. “We get tips every day that are viable.”While a lack of information about the killer has caused anxiety, public officials are asking for patience. Rep. Brandon Mitchell, a Republican who represents Moscow in the Idaho State Legislature, said he tells constituents to have faith in the police and avoid being speculative. City officials, including members of the Moscow City Council, praised Fry after his Nov. 16 news conference.

☆ Condé Nast's CMO is exiting after 2 years of leading the company's marketing and consumer revenue business
▼ + stars: | 2022-12-09 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Condé Nast CEO has lost its CMO, Deirdre Findlay, who spent two years in the role under CEO Roger Lynch. Condé Nast is looking to remake itself with new lines of business from events to membership businesses. Before joining Condé Nast in early 2019, Lynch was CEO of Pandora where Eisen had also been a corporate advisor. Condé Nast titles include Vogue, New Yorker, and Condé Nast Traveler. Hi All,As I shared in the CMO All Hands today, I have made the difficult decision to leave Condé Nast.

☆ Strategist explains why he thinks the 'Fed pivot' narrative is flawed
▼ + stars: | 2022-11-30 | 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 EmailStrategist explains why he thinks the 'Fed pivot' narrative is flawedRoger Lee, head of U.K. equity strategy at Investec, said the Federal Reserve will not make the mistake of tightening too quickly.

☆ Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers
▼ + stars: | 2022-11-27 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +28 min

Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.

Police in Idaho dismissed rumors and ruled out multiple people who had contact with victims the night of a quadruple homicide, leaving witnesses and video as a main hope. On Sunday, chief of Moscow police James Fry asked the public for help solving the vicious stabbing deaths of four people just outside the University of Idaho campus Nov. 13. Police don't believe a person who was dialed seven times from the cellphone of Goncalves after she arrived home is involved in the attack, Fry said. The two roommates who were at home during the attack most likely slept through it, police indicated Saturday. "The identity of the 911 caller and the contents of the call have not been released," Fry said Sunday.

☆ Why corporate leaders like Mark Zuckerberg, Jack Dorsey, and Evan Spiegel are all apologizing for the massive layoffs at their companies
▼ + stars: | 2022-11-15 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +10 min

Since the pandemic, the largest tech layoffs have been at Meta, Getir, Booking.com, Twitter, Uber, Better.com., Peloton, and Groupon, Layoffs.fyi data show. Now companies in tech are reversing some of the huge hiring that they did in the past couple of years, Lee said. Mark Zuckerberg, MetaFacebook CEO Mark Zuckerberg speaks about "News Tab" at the Paley Center, in New York on October 25, 2019. In the memo he wrote: "Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. Jack Dorsey, ex-CEO TwitterTwitter CEO Jack Dorsey testifies before the House Energy and Commerce Committee in Washington, DC, in 2018.

☆ Analysis: Silicon Valley's greatest minds misread pandemic demand. Now their employees are paying for it.
▼ + stars: | 2022-11-10 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +9 min

CNN Business —In the early months of the pandemic, Facebook only grew bigger and more central to our lives. On Wednesday, however, Zuckerberg reversed course and laid off more than 11,000 employees, marking the most significant cuts in the company’s history. In a memo to staff, Zuckerberg coughed up some of the hardest words in the English language. The Federal Reserve maintained near-zero interest rates at the time, giving tech companies easier access to capital. And private and public market valuations for tech companies only seemed to go higher.

☆ Thousands of workers were laid off this week as tech companies and startups brace for an economic crash. Investors, founders, and recruiters explain why this is just the beginning.
▼ + stars: | 2022-11-05 | by ( Rob Price | Samantha Stokes | ) www.businessinsider.com time to read: +10 min

Amid growing economic uncertainty, layoffs in the technology industry, both for public companies and for startups, have been escalating this Fall. While plenty of tech companies were still flying high in early 2022, Russia's invasion of Ukraine in February accelerated global economic turmoil. More than 17,000 tech workers lost their jobs in both May and June, while July and August saw another 29,000 cuts, according to layoff tracker Layoffs.fyi. Davis, the VC at Interplay, explained that cost-cutting and layoffs are happening across the board, not just in the tech industry. But public tech companies as well as early- and growth-stage startups will face additional challenges, he said.

☆ Check out the pitch deck that payroll startup Comprehensive used to raise a $6 million seed round from investors like Inspired Capital
▼ + stars: | 2022-10-17 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +2 min

Comprehensive is a new HR startup that wants to simplify employee compensation and raises. The startup just launched from stealth and raised a $6 million seed round led by Inspired Capital. Employers can also easily toggle to view employee compensation data by gender and race, along with the dates of each last employee's raise to increase transparency around pay equity. Comprehensive has already secured high profile clients like fintech startups Mercury and Titan, which attracted the attention of the venture team at Inspired Capital. Here's an exclusive look at the 10-slide pitch deck Comprehensive used to raise $6 million from Inspired Capital, Floodgate, SV Angel, and several angel investors:

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