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☆ Credit Suisse plunge sends traders flocking to its U.S-listed options
▼ + stars: | 2023-03-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

That made Credit Suisse the fourth most heavily traded single-stock name in the U.S. options market on Wednesday. The surge in trading followed a near 31% tumble in Credit Suisse shares on Wednesday after Saudi National Bank (SNB) (1180.SE), which holds 9.88% of Credit Suisse (CSGN.S), said it would not buy more shares on regulatory grounds. Trading in Credit Suisse puts outnumbered that in its call options 1.7-to-1. "There's a lot of moving parts in the Credit Suisse trade right now with respect to a major credit event, European bank contagion, and the possibility of ECB intervention," said Steven Place, an independent options trader in Destin, Florida. For SPDR S&P regional banking ETF (KRE.P), the options trading action was a mix of investors taking profits on existing hedges while putting on new defensive positions, Susquehanna's Murphy said.

[1/3] A pharmacist holds a bottle of the drug Eliquis, made by Bristol Myers Squibb and Pfizer, at a pharmacy in Provo, Utah, U.S. January 9, 2020. The government will launch the negotiation process in September by naming the first drugs it plans to target. "We couldn't have the other parts of the IRA without this Medicare negotiation," said Sean Dickson, director of the West Health Policy Center, a non-partisan healthcare think tank. Eliquis, which Bristol Myers (BMY.N) shares with Pfizer (PFE.N), Ibrance, and Imbruvica, sold by AbbVie and Johnson & Johnson (JNJ.N), appear on every list. Pfizer, Novo Nordisk and J&J declined to comment on the likelihood their drugs would be included in the first round of negotiations.

☆ I made nearly $5,000 in 30 days from writing online. Here's my best advice for others who want to make money.
▼ + stars: | 2023-02-26 | by ( Dayana Sabatin | ) www.businessinsider.com time to read: +7 min

Sabatin said writing as many posts as possible gives you the best chance at making more money. If you'd asked me if I'd be making money from writing my thoughts and opinions online, I would've laughed in your face. "Write or don't eat"I kept a sticky note on my computer with the words "write or don't eat" written on it. Trust me, I thought it was at first too, but the two cents I made my first month of writing online humbled me. It took me nearly two years to make $5,000, and that was from hustling daily and having multiple writing income streams.

☆ Changes hit The Wall Street Journal during new EIC Emma Tucker's first week, as she installs a chief of staff and the paper's veteran managing editor departs
▼ + stars: | 2023-02-10 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +3 min

Taneth Evans, who previously ran audience development at The Times of London, will be Tucker's chief of staff, three Journal sources said. The top editorial ranks at The Wall Street Journal are already changing under new Editor-in-Chief Emma Tucker. Tucker has tapped Taneth Evans as her chief of staff, according to three Journal sources. On Monday, the British-born Tucker addressed Journal staff for the first time from the paper's New York headquarters. Pensiero held a variety of roles during her tenure, including editor for newsroom standards and managing editor for international.

☆ Drug companies favor biotech meds over pills, citing new U.S. law
▼ + stars: | 2023-01-13 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

The pharmaceutical industry, whose members gathered in the thousands this week in San Francisco for the annual JP Morgan Healthcare conference, opposed the legislation and has begun implementing strategies to mitigate its impact. "In 10 years, we'll have far fewer small molecules being developed than we do today." He questioned the benefit of "rules that really just disincentivize investment in what ends up being convenient drugs, drugs for tough conditions like cancer and drugs that get really cheap when they go generic." Most medicines on the market today are small molecules, which can be taken by mouth, absorbed into the bloodstream and easily penetrate cell membranes. He noted it is not unusual for pharmaceutical companies to choose not to pursue a drug they once thought promising.

☆ Meet the guy whose algorithm could solve the crisis of America's empty office space
▼ + stars: | 2023-01-08 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +5 min

Converting offices into apartments brings people back to downtown areas as residents, not commuters. The algorithm is able to quickly assess which office buildings are viable for conversion to apartments, which are known in industry parlance as multifamily residential. "And then, actually, the demand for the remaining office buildings goes up, because you're creating scarcity by taking some out of the market." Most urban centers lack sufficient housing, but turning office buildings into apartments helps add additional units to rent or buy. About 28% of the area's office space is vacant.

A fter a year of layoffs across media and entertainment companies, more cuts could come in 2023 .. A pull-back of advertising tied to the declining economic outlook has affected all media. From tech diruptors like Netflix to news stalwarts like the Washington Post, a range of companies are impacted. In the blink of an eye, the media and tech jobs market has gone from hot to not. Discovery and Paramount Global that are racing to make their streaming businesses profitable to digital media companies such as BuzzFeed and Vice that are trying to bolster their valuations. Here are 15 media and entertainment companies that have laid off staff as of December 2022:

☆ Stop complaining, says billionaire investor Charlie Munger: 'Everybody's five times better off than they used to be'
▼ + stars: | 2022-12-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Billionaire Charlie Munger thinks we should all be a lot happier. During that annual meeting, Munger complained that envy is a driving factor for too many people today. In 2019, Munger downplayed the effects of wealth and income inequality, and claimed that the politicians who were "screaming about it are idiots." At the Daily Journal's annual meeting this year, he added that most people's concerns over wealth inequality and criticisms of the extremely wealthy were "motivated" by envy. Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Billionaire investor Charlie Munger: ‘The world is not driven by greed, it’s driven by envy’

☆ Russia's invasion of Ukraine was a 'geopolitical earthquake' that defined 2022 and has transformed the world for years to come
▼ + stars: | 2022-12-24 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +10 min

An unthinkable, nightmare scenario was now a reality — the largest military conflict in Europe since World War II had begun. The war, which is still raging on, will continue to shape the world in the year to come and likely long after. "Russia's invasion of Ukraine represented a geopolitical earthquake, scrambling the entire chessboard of global politics," Ivo Daalder, a former US ambassador to NATO, told Insider. Some experts have warned that the nuclear dangers posed by the Ukraine war after are "far worse" than the Cuban missile crisis, which occurred 60 years ago this past October. Indeed, the global dimensions of the Ukraine war could make it an era-defining fight.

☆ She says she was fired in retaliation. Hearst Magazines says she was insubordinate. Here's how Delish's hit YouTube show 'Budget Eats' came crashing down.
▼ + stars: | 2022-12-22 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +21 min

Produced by the Hearst-owned food brand Delish, "Budget Eats" was the kind of digital success story that traditional magazine giants crave. As Xie worked her day job developing recipes, "Budget Eats" was morphing from a pandemic experiment to a bonafide hit. A career recipe developer at work, the "Budget Eats" Xie doesn't even measure out ingredients. "It felt like she was afraid that putting 'Budget Eats' from her kitchen onto this cable network might dilute the honesty," Lennon-Simon said. As for "Budget Eats," Delish recently posted what is presumably the last episode.

☆ Substack is having a moment, again. But can the startup live up to its massive $650 million valuation?
▼ + stars: | 2022-12-19 | by ( Samantha Stokes | Steven Perlberg | ) www.businessinsider.com time to read: +17 min

He provided a place where readers could find him "in case the bird app spirals into oblivion": his Substack newsletter. The epidemiologist Eric Feigl-Ding began promoting his Substack newsletter to his 722,000 Twitter followers in early November. They have been a welcome addition, Substack writers say. Substack has also recently rolled out mentions and cross-reporting functions, where writers can mention other Substack writers and share existing posts with their audiences. The irony, of course, is that many Substack writers rely on their Twitter audiences to promote their posts.

☆ Netflix, NBCUniversal, BuzzFeed, Vice, and other media companies have laid off thousands in 2022, and there could be more cuts ahead in 2023
▼ + stars: | 2022-12-16 | by ( Lucia Moses | Claire Atkinson | Elaine Low | ) www.businessinsider.com time to read: +2 min

A fter a year of layoffs across media and entertainment companies, more cuts could come in 2023 .. A pull-back of advertising tied to the declining economic outlook has affected all media. In the blink of an eye, the media and tech jobs market has gone from hot to not. More than 3,300 media jobs were lost through November this year, according to Challenger, Gray & Christmas data — though this was down from an unprecedented 2020, when Challenger data showed 30,000 media sector jobs were lost. Discovery and Paramount Global that are racing to make their streaming businesses profitable to digital media companies such as BuzzFeed and Vice that are trying to bolster their valuations. Here are 15 media and entertainment companies that have laid off staff as of December 2022:

☆ Emma Tucker has been named editor-in-chief of The Wall Street Journal in a Murdoch editorial shakeup
▼ + stars: | 2022-12-12 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +2 min

Tucker will join The Wall Street Journal from The Sunday Times, another Murdoch-operated newspaper. Journal editor Matt Murray is staying on at a senior role within News Corp, the company said. Rumors have been swirling for weeks about the potential change, Insider previously reported. Emma Tucker, previously the editor of The Sunday Times, will replace Editor-in-Chief Matt Murray, a Journal veteran who has served atop the Rupert Murdoch-owned paper since 2018. "Her global vision and experience will be particularly important at a time of immense international opportunity for The Wall Street Journal.

☆ New York Times Staffers Walk Off Job Amid Contract Fight
▼ + stars: | 2022-12-08 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +3 min

New York Times staffers walked off the job on Thursday for one day. Union staffers are in heated contract negotiations with the paper over issues like pay. More than 1,100 union members had pledged to stop working at midnight on December 8 if an agreement had not been reached over a new union contract, with the stoppage planned for 24 hours. That is not where we are today," New York Times executive editor Joe Kahn wrote in a memo to staff, according to an unbylined Times story about the one-day strike beginning. Union members plan to picket outside of the New York Times headquarters on Thursday.

☆ Wall Street Journal insiders are buzzing about what a leadership shake-up could mean for Murdoch world
▼ + stars: | 2022-12-06 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +7 min

Sunday Times editor Emma Tucker is expected to replace Journal editor Matt Murray, Semafor reported. News Corp insiders believe Murdoch might make changes ahead of a possible recombination of News Corp and Fox. Is Rupert Murdoch planning to move his editorial chess pieces ahead of a potential recombination of News Corp and Fox? Last month, Semafor reported that Wall Street Journal editor Matt Murray is expected to be replaced by Emma Tucker, who leads fellow News Corp title The Sunday Times in London. That report followed the October disclosure that Murdoch is considering recombining News Corp with Fox Corp, with both companies convening special committees to review options.

☆ How FTX's implosion put crypto news sites like CoinDesk, The Block, and Decrypt in the spotlight as they work to fend off an ad slump and conspiracy theories about their coverage
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +15 min

Crypto news sites like CoinDesk, The Block, and Decrypt have dominated coverage of the FTX implosion. Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. "We cover the good, the bad and the ugly," Dan Roberts, the editor-in-chief of Decrypt, told Insider. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet.

☆ FTX Hires Ex-Regulators to Investigate Firm’s Collapse
▼ + stars: | 2022-11-23 | by ( Mengqi Sun | ) www.wsj.com time to read: +5 min

Cryptocurrency exchange FTX, whose recent collapse has led to questions about lacking regulatory oversight, has hired a fitting team to help untangle the mess: former senior U.S. regulators. FTX said this week it has been in contact with investigators, The Wall Street Journal previously reported. FTX, which is based in the Bahamas, also has hired Nardello & Co., an investigations firm that specializes in anti-corruption and fraud cases, Mr. Bromley said in court Tuesday. The name of the cybersecurity company wasn’t disclosed because of concerns over continuing cyberattacks on FTX, he said. The collapse of FTX has set off the largest crypto-related bankruptcy ever, and court filings are already shedding light on what went wrong and how complicated things could get.

☆ FTX's bankruptcy hearing is underway and the details are wild. Here's what to know.
▼ + stars: | 2022-11-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

FTX kicked off its bankruptcy hearing on Tuesday, and the initial statements give Sam Bankman-Fried and company little to cheer. James Bromley, counsel to FTX's new management, had choice words during the first day in the Delaware hearing. Ray and his new management team's estimate of FTX's cash holdings has nearly doubled, a Saturday filing showed. In the letter, seen by the Financial Times, Bankman-Fried said excessive borrowing by Alameda Research was responsible for FTX's collapse. Elon Musk's EV maker has seen its market cap plunge from a high of $1.2 trillion.

☆ The story of Sam Bankman-Fried's FTX implosion put crypto news sites like CoinDesk and The Block on the map. Inside their plan to fend off an ad slump and conspiracy theories — and keep winning.
▼ + stars: | 2022-11-21 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +14 min

Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. Crypto media kicks into overdriveRoberts said Decrypt's traffic doubled during the first week of the FTX saga. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet. "It's now a situation where the crypto media has egg on their face.

Robert Allbritton launched Protocol in early 2020 with a lofty goal of replicating his success with Politico for the tech industry. But that was a nonstarter, in part because Axel Springer, through a joint venture, already owned half of Politico Europe. Axel Springer acquired Protocol in October 2021 as part of its $1 billion-plus acquisition of Politico. Goli Sheikholeslami became CEO of Politico Media Group in February and was focused on the task of integrating Politico's US and Europe operations. The person familiar with the business said that Axel Springer gave Protocol a real shot.

According to a person familiar with the business, some inside Politico originally hoped to create what became Protocol as a direct offshoot — using a name like "Politico Tech." But that was a nonstarter, in part because Axel Springer already owned the rights to half of the Politico brand in Europe. Axel Springer acquired Protocol in October 2021 as part of its $1 billion-plus acquisition of Politico. Goli Sheikholeslami became CEO of Politico Media Group in February and was focused on the task of integrating Politico's US and Europe operations. A few former employees, in retrospect, wondered how committed Axel Springer was to the little tech-news site that came bundled with its Politico purchase.

☆ Introducing Insider's 100 people transforming business
▼ + stars: | 2022-11-16 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

It's my pleasure to introduce to you Insider's list of 100 People Transforming Business in 2022 — our annual celebration of the people who are bucking trends and upending convention across industries. Insider's annual list of the 100 People Transforming Business. 100 People Transforming Business. Twitter insiders worry that a crash is incoming. TCI, a major investor in Google's parent company Alphabet, sent a letter on Tuesday urging Alphabet CEO Sundar Pichai to cut costs.

☆ The housing-affordability crisis is sparking startup founders, Wall Streeters, and nonprofit leaders to try to offer new solutions
▼ + stars: | 2022-11-15 | by ( Hana R. Alberts | Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Some innovations may help homebuyers, renters, and investors cope with the affordability crisis. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. Mortgage rates have topped 7%, the highest rate in 20 years, which means homebuyers can afford less house for their money. That's why many people and companies in the real-estate industry are trying to help homebuyers, renters, and investors cope with an affordability crisis. That's where the Washington, DC, nonprofit Grounded Solutions Network comes in: It says it helps repurpose "vacant space into vibrant space."

☆ How Recurrent Ventures went from media darling to another publisher hit by layoffs and struggles
▼ + stars: | 2022-11-15 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +14 min

Recurrent Ventures made a digital-media splash with acquisitions like The Drive and Popular Science. In May of last year, Recurrent Ventures announced its flashiest deal yet: a $300 million fundraising round led by the private-equity giant Blackstone. To make a more appealing parent brand to house a growing fleet of media properties, they eventually created a new entity called Recurrent Ventures. Recurrent Ventures expanded as it acquired well-known publishers like the 150-year-old Popular Science. Recurrent Ventures shut down MEL Magazine, the men's lifestyle publication it once planned to make the centerpiece of a new lifestyle vertical of sites.

☆ Bloomberg and CNN won't pay for Twitter verification for reporters, as newsrooms consider Musk's new plan
▼ + stars: | 2022-11-08 | by ( Steven Perlberg | ) www.businessinsider.com time to read: +4 min

Twitter is planning to require users to pay to keep their verification. When reports emerged that the Elon Musk-operated Twitter planned to require users to pay to keep their blue verification badges, a question blossomed in newsrooms: Would media companies front the bill for their reporters? One media company, however, would certainly cover the cost of Twitter verification: Puck. Musk wrote on Twitter last week that he planned to charge $8 per month for a "Twitter Blue" subscription that would include verification. Long considered Twitter power users, journalists make up a large contingent of verified users on the platform, along with celebrities, organizations, and brands.

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