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Patrick Kane is joining the Detroit Red Wings for the rest of the season, choosing the championship-rich franchise over other suitors for the four-time All-Star's return to the NHL from hip surgery. After the Blackhawks and New York Rangers he joined after a pre-deadline trade, the Red Wings are set to become Kane’s third Original Six team. Kane had similar control as a free agent, letting the market and the first month of the season play out before talking to interested teams. The Red Wings and Blackhawks were longtime, bitter rivals until Detroit was shifted from the Western to the Eastern Conference in 2013 as part of realignment. Kane follows a similar path to the player he's chasing for the U.S. scoring record: Mike Modano, who played 20 seasons for the Minnesota North Stars/Dallas Stars before finishing his career with the Red Wings.

Persons: Patrick Kane, Kane, Ed Jovanovski, Nicklas Backstrom, Jovanovski, Backstrom, Andy Murray, Steve Yzerman’s, Conn Smythe, they've, Tage Thompson, Casey Mittelstadt, Rasmus Dahlin, Owen Power, Mike Modano, ___ Organizations: Detroit Red Wings, NHL, Associated Press, Stanley, Chicago, Detroit, hometown Buffalo Sabres, Toronto Maple Leafs, Eastern Conference, Florida Panthers, Blackhawks, New York Rangers, Wings, Washington Capitals, Atlantic Division, Red Wings, Rangers, U.S . National Team Development, Sabres, U.S, Minnesota North Stars, Dallas Stars Locations: U.S, New Jersey, Buffalo, Detroit, Farmington Hills , Michigan, Plymouth, New York

☆ How Haley could eclipse DeSantis to become the Trump alternative
▼ + stars: | 2023-11-14 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +16 min

But many Republican strategists believe that DeSantis’ struggles to connect with voters, and his choice to run at Trump solely from the right, have opened a lane for Haley to eclipse the Florida governor. An array of recent polls, both nationally and in the battleground states, signal that DeSantis and Haley have separated themselves from the rest of the candidates chasing Trump. “Absolutely, Nikki Haley has more upside than DeSantis if they are both viable after the first two,” argued Alex Stroman, a former executive director of the South Carolina GOP. DeSantis, Ayres argued, has “has tried to appeal to some of the ‘always Trump’ voters, but the ‘always Trump’ voters are always Trump for a reason. Nikki Haley seems to have figured out the job is to consolidate the ‘maybe Trump’ voters who supported Trump twice but now … want a different style and different temperament.”Republicans sympathetic to DeSantis argue that it is Haley who has boxed herself in.

Persons: Donald Trump’s, Ron DeSantis, Nikki Haley, Trump, “ You’ve, ”, Tom Rath, Donald Trump, DeSantis, Haley, Republican pollster Whit Ayres, Alice Stewart, Chris Christie, Vivek Ramaswamy, South Carolina Sen, Tim Scott, Scott, Mike Huckabee, Rick Santorum, Ted Cruz, Kim Reynolds, Huckabee, Santorum, Cruz, John McCain, Mitt Romney, ’, Ayres, Rath, George W, Bush, “, ” Dante Scala –, –, Scala, GOPers, ” Haley, McCain, Linus, ‘, ’ ”, he’s, Newt Gingrich, Alex Stroman, DeSantis “, ” Ayres, Ayres ’ “, tellingly, MAGA —, dethroning, ” Scala, Mike Murphy, who’s, Joe Biden, ” Murphy, There’s, Sen, Gary Hart parlayed, Hart, Walter Mondale, Chris Sununu, DeSantis ’, Yogi Berra, ” Rath Organizations: CNN, GOP, Florida Gov, South Carolina Gov, ”, Republicans, Trump, Republican, Washington Post, New, New Jersey Gov, South, Huckabee, New Hampshire GOP, University of New, Romney, South Carolina GOP, “, dethroning Trump, Democratic Locations: Florida, New Hampshire, South Carolina, Iowa, New Jersey, Granite State, University of New Hampshire, After New Hampshire, Gaza, DeSantis, Haley, Iowa , New Hampshire

☆ Ending the 40-hour workweek is possible, but it'll require sacrifices from all of us
▼ + stars: | 2023-11-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at the internet calling for changes to the "soul-crushing" and "depressing" 9-to-5 workday. The 40-hour workweek is facing a reckoning after a recent grad's viral TikTok emotionally questioning how people have time for a personal life while working a full-time job. AdvertisementAdvertisementSo yes, upending the 9-to-5 is possible — and worth considering — but only with a bit of sacrifice from all of us. Earnings today: Uber, eBay, H&R Block, Nintendo, and other companies.

Persons: —, Dolly Parton, Jeff Kravitz, FilmMagic, Dolly, Gen, Insider's, Gen Z, Tim Paradis, I've, we'd, Rebecca Zisser, Ray Dalio, That's, Rob Copeland's, Dalio, Warren Buffett's, Sam Altman Justin Sullivan, OpenAI's, Sam Altman, Slack, Lidiane Jones, Bumble, Tesla, Samantha Lee, WeWork, they're, Billie Jean King, Bryan Johnson, Dustin Giallanza, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bridgewater Associates, Bank of America, EV, Microsoft, Billie Jean King Cup, eBay, Nintendo Locations: Taylor, Berkshire, Kentucky, Mississippi, Sevilla, Spain, Australia, Canada, Czech Republic, France, Germany, Italy, Kazakhstan, Poland, Slovenia, Switzerland, New York City, San Diego, London, New York

☆ A Hulu exec details how elaborate partnerships 'surprise and delight' audiences and boost followings for big releases like Oprah-produced 'Black Cake'
▼ + stars: | 2023-11-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Disney's Hulu has a lot riding on "Black Cake," its adaptation of Charmaine Wilkerson's New York Times bestseller that centers on a Black family and spans decades and geographies from Jamaica to Scotland to California. Several Caribbean bakeries across the US will give out samples of black cake, the rum-soaked treat that's at the heart of the story. Hulu's partnerships start with the audienceMatthews and her team put together about a dozen partnerships a year tied to big releases. For "Black Cake," the book's fan base and defining themes were front and center for Hulu. Customers must be members of Barnes & Noble's Premium Membership ($39.99 a year) to see the "Black Cake" sneak peek, which let the bookseller promote its rewards program.

Persons: Charmaine Wilkerson's, Marissa Jo Cerar, Oprah Winfrey, Aaron Kaplan, Hulu, Noble, Adia Matthews, Matthews, screeners, —, Danny Trejo —, Postmates, Selena Gomez's, Cynthia Di Meo, Mabel Mora, Influencers, Barnes Organizations: Hulu, Charmaine Wilkerson's New York Times, Harpo Films, Entertainment, Barnes, Spelman College, Howard University, Hollywood, Con, Samba, Walt Disney Co, Disney Locations: Jamaica, Scotland, California, Caribbean, it's, Southern California, Los Angeles, LA, American, Hollywood

☆ British Library looks at evolution of fantasy genre in new exhibition
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Martin’s “A Game of Thrones” to live-action role play costumes and Gandalf's staff from "The Lord of the Rings" films, a new London exhibition opening on Friday delves into the fantasy genre. "Fantasy: Realms of Imagination", running at the British Library, features more than 100 items from around the world including manuscripts, first editions, games, film props and costumes. “Fantasy has never been as exciting as it is today." "Fantasy: Realms of Imagination" runs until Feb. 25, 2024. Reporting by Marie-Louise Gumuchian; Editing by Rod NickelOur Standards: The Thomson Reuters Trust Principles.

Persons: George R.R, Martin’s, Lewis, Ursula K, Le, Tanya Kirk, Marie, Louise Gumuchian, Rod Nickel Organizations: British, Reuters, Thomson Locations: London

☆ Little-known life of Moomins creator Tove Jansson explored in new exhibition
▼ + stars: | 2023-10-18 | by ( Aurore Laborie | ) edition.cnn.com time to read: +6 min

Paris CNN —The Moomin characters may be internationally famous, but a new exhibition in Paris shows a lesser-known side to the Finnish artist who created them. The show takes an intimate look into the life of Tove Jansson, both as a prolific artist and an advocate for female independence. Courtesy The Community and Moomin Characters Ltd. Using illustrations, cartoons, photography, music, writings and letters, the exhibition shows Jansson as a multifaceted character who could — and did — make art out of almost anything. Tove Jansson's Moomin character "Little My" paper doll.

Persons: Tove Jansson, ”, Sini, ” Tove Jansson's, Jansson, “, Thomas Zambra, —, Signe Hammarsten, Viktor Jansson, Tove Jansson’s, Tove Jansson's, Summers, Hitler, Stalin, “ Garm, Lewis Carroll’s, Alice, Tuulikki Pietilä, Tuukka Laurila, Pietilä, Zambra, Tove Jansson ”, Louis Organizations: Paris CNN, CNN, des Beaux Arts, Nature, Espace Mont Locations: Paris, Finnish, Kanto, Tuukka, Stockholm, Scandinavia, Finland, “, Helsinki, Wonderland, Espace

☆ Restored Paul McCartney and Wings tour bus to be auctioned
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 17 (Reuters) - A fully restored double-decker bus used by Paul McCartney and his band Wings for a 1972 European tour is headed for auction next month, with bids expected at $200,000-300,000. Former Beatle McCartney and his late wife Linda formed the American-British rock band, Paul McCartney and Wings, known as Wings, together with drummer Denny Seiwell and guitarist Denny Laine in 1971, after the break-up of the legendary band. In the summer of 1972, they set off for the “Wings Over Europe" tour, travelling on the 1953 Bristol KSW double-decker bus, known as WNO 481. The bus, whose exterior is painted in shades of blue, red, green and yellow, with psychedelic artwork, reflecting the hippie style of the era, travelled across nine European countries on the 1972 tour. "This bus went all over south of France and Germany and Finland...just a summer of fun with the Wings band," said Nolan.

Persons: Paul McCartney, Beatle McCartney, Linda, Denny Seiwell, Denny Laine, Paul, Paul didn't, Martin Nolan, Nolan, Eric Clapton, Kurt Cobain, Marie, Louise Gumuchian, Deborah Kyvrikosaios Organizations: Wings, “, Bristol KSW, Julien's, Thomson Locations: European, British, Europe, Spain, Britain, France, Germany, Finland, Nashville

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Wells Fargo gains as Q3 profit risesJPMorgan Q3 profit rises on interest income boostBlackRock reports Q3 profit growthUnitedHealth gains on Q3 profit beatFutures: Dow flat, S&P down 0.18%, Nasdaq down 0.43%Oct 13 (Reuters) - Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session. JPMorgan Chase(JPM.N), the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. BlackRock (BLK.N) reported a 13% rise in third-quarter profit on a rebound in markets. UnitedHealth (UNH.N) advanced 2.5% after beating third-quarter profit estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.

Persons: Brendan McDermid, JPMorgan Chase, Wells Fargo, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Companies Wells, JPMorgan, BlackRock, Dow, Nasdaq, U.S, Citigroup, Commonwealth Financial Network, Fed Bank of Philadelphia, Federal Reserve Bank of Boston, Traders, University of Michigan's, Dow e, Investors, Hamas, Exxon Mobil, Chevron, Callon Petroleum, Occidental Petroleum, Dollar, Boeing, Thomson Locations: New York City, U.S, BLK.N, Israel, Gaza City, Bengaluru

☆ Futures edge lower ahead of big bank earnings
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Futures down: Dow 0.02%, S&P 0.11%, Nasdaq 0.25%Oct 13 (Reuters) - Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) are scheduled to report quarterly numbers before the opening bell. Asset manager BlackRock (BLK.N), health insurer UnitedHealth Group (UNH.N) and regional lender PNC Financial (PNC.N) are also slated to report earnings. Remarks from Fed Bank of Philadelphia President Patrick Harker, a voting member on the rate-setting Federal Open Market Committee (FOMC) this year, would also be on investors' radar during the day. On the data front, a preliminary estimate of the University of Michigan's October Consumer Sentiment Index is due at 10 a.m.

Persons: JPMorgan Chase, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Saumyadeb Organizations: Dow, Nasdaq, JPMorgan, Citigroup, BlackRock, UnitedHealth, PNC Financial, Commonwealth Financial Network, Fed Bank of New, Fed Bank of Philadelphia, Market, Federal Reserve Bank of Boston, Traders, Treasury, University of Michigan's, Dow e, Hamas, Thomson Locations: Wells Fargo, Fed Bank of New York, U.S, Israel, Gaza City, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) rose between 3% and 5% after trouncing quarterly profit estimates as they benefited from higher interest rates. The S&P 500 Banks index (.SPXBK) gained 3.2%, hitting a three-week high. Options traders are bracing for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. The energy sector (.SPNY) tracked a more than 3% jump in crude prices and led the gains among S&P 500 sectors.

Persons: Brendan McDermid, Wells, JPMorgan Chase, Wells Fargo, Stuart Cole, Cole, Patrick Harker, Investors, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Chakrabarty, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Companies JPMorgan, Citigroup, Dow, Nasdaq, JPMorgan, Citi, Equiti, BlackRock, Federal Reserve Bank of Philadelphia, Dow Jones, Hamas, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Israel, Gaza City, Bengaluru

☆ Options traders see larger-than-usual stock swings as banks report results
▼ + stars: | 2023-10-12 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Oct 12 (Reuters) - Options traders are braced for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. Big banks, including JPMorgan (JPM.N), Wells Fargo (WFC.N) and Citigroup Inc (C.N) are set to report financial results on Friday, with others, including Goldman Sachs (GS.N) and Morgan Stanley (MS.N), due next week. The biggest U.S. consumer lenders are set to post higher third-quarter profits, in contrast with investment banks still facing a dealmaking slump, analysts said. Options data shows traders braced for a larger-than-usual post-earnings move from Wells Fargo in particular. The options-implied earnings move for Goldman Sachs, Morgan Stanley, Bank of America (BAC.N) and Citigroup also signal a larger-than-usual post-earnings swing, data from Trade Alert showed.

Persons: JP Morgan Chase, Mike Segar, Goldman Sachs, Morgan Stanley, Mike Santomassimo, Steve Sosnick, Saqib Iqbal Ahmed, Richard Chang Organizations: JP, Co, REUTERS, JPMorgan, Citigroup Inc, U.S, Traders, Bank of America, Citigroup, Trade, Interactive, Thomson Locations: New York, Wells Fargo

LOS ANGELES (AP) — The deal is made, the pickets have been suspended, and Hollywood's writers are on the verge of getting back to work after months on strike. Crucial steps remain for the writers, who technically remain on strike, and for other workers awaiting a return to production of new shows. Following the approval from the boards — which is likely — comes a vote from the writers themselves, whose timing is uncertain. That could prompt a delay of Tuesday's voting and has kept union leaders from sharing with writers the details of what nearly five months of striking and hardship has earned them. ___For more on the writers and actors strikes, visit: https://apnews.com/hub/hollywood-strikes/

Organizations: ANGELES, Writers Guild of America, Hollywood, Alliance, Television Producers, Screen, American Federation of Radio, Television Artists, SAG Locations: hollywood

☆ Alfredo Martinez, Who Fused Art World and Underworld, Dies at 56
▼ + stars: | 2023-09-11 | by ( Alex Traub | More About Alex Traub | ) www.nytimes.com time to read: 1 min

Alfredo Martinez lived on New York City’s margins, a squatter who shook off one eviction after another. He was an artist who usually lacked a gallery and sometimes put on exhibits in a storage locker. Yet Mr. Martinez was also a player in the world capital of culture and media. Mr. Martinez synthesized those qualities into an idiosyncratic strategy as a bohemian provocateur: Use prison to supercharge an art career. He did that in the early 2000s, after he pleaded guilty to art forgery.

Persons: Alfredo Martinez, Martinez, Anna Sorokin Locations: New York

For Miyazaki, who painstakingly crafts thousands of hand drawings for a film, it's a long and laborious process. Several of Miyazaki's films rank among the biggest box-office hits ever in Japan; there are few other filmmakers today as revered — and fiercely beloved — as Miyazaki. “I am making this movie because I do not have the answer," Miyazaki told The New York Times in 2021. We are again, invited into a dizzyingly colorful otherworldly fantasy of Miyazaki's making. If this is to be the last Miyazaki movie (it would be unwise to ever really count him out), it's a tremendously moving goodbye.

Persons: Miyazaki's, Miyazaki, “, ”, —, Mozart, Guillermo del Toro, Mahito Maki, Soma Santoki, It's, Mahito's mother's, Yoshino Kimura, Mahito's, Masaki Suda, Mei, Mahito, Jake Coyle Organizations: TORONTO, Toronto, New York Times, Twitter Locations: Japan, Miyazaki, Toronto, Tokyo

☆ I used TikTok to plan my vacation. Here’s how that went
▼ + stars: | 2023-08-25 | by ( Amarachi Orie | ) edition.cnn.com time to read: +14 min

I put a stint of endless scrolling to good use by using the app to decide the itinerary for my latest vacation. So, like TikTok users said, early morning is probably the best time for a tourist to first experience the amusement park. Amarachi Orie/CNNWith a name meaning “Yellow Beach,” this place was an aesthetic wonder, which explains why it came up on TikTok. Amarachi Orie/CNNThis beach club on the Veronica Strip was recommended by TikTok users as the place to be to enjoy the island’s nightlife. I would recommend every place TikTok took me to, especially the aesthetic masterpieces: the yellow beach, Fiore and Masca.

Persons: Costa Adeje, Amarachi Orie, TikTokers, I’m, Orie, TikTok, I’d, Fiore, I’ll, don’t, CNN TikTok, Madonna, Harley Davidson, Bob Dylan, Bruce Springsteen, Billy Idol, Stevie Nicks, Veronica, Papagayo, Teide, Masca, it’s Organizations: CNN, TikTok, Costa Adeje TikTok, Costa Adeje, Port Colon, Workers, Papagayo Beach Club Spanish Locations: West Africa, Tenerife, Canary Islands, TikTok, tenerife, Costa, Siam, Spanish, Los Cristianos, Amarilla, Luuma, Playa de Las, Playa, Las, British, Santiago del Teide, Fiore

☆ Mega Millions jackpot lottery climbs to $1.55 billion and could end up being the largest in its history
▼ + stars: | 2023-08-05 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

The Mega Millions jackpot may be the game's largest prize ever at an estimated $1.55 billion. The burgeoning jackpot is estimated to top $1.55 billion, according to a Mega Millions press release. The Mega Millions company brags that it is the only lottery game to have awarded four jackpots surpassing $1 billion. "With enthusiastic players across the country, many of whom are newcomers to the game, it is indeed likely that there will be a record Mega Millions jackpot," the press release said. The Mega Millions hype comes weeks after someone snagged a luxurious $1.08 billion Powerball jackpot.

Organizations: Service Locations: Atlanta , Georgia, Wall, Silicon, South Carolina, Atlanta

☆ The Federal Reserve is likely to keep rates high. Here's a strategy to generate income and reduce risk
▼ + stars: | 2023-08-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Near-dated Treasurys have seen a sizeable boost since the Federal Reserve has embarked on its rate-hiking campaign, and a strategy that allows investors to generate income in the short term is taking off. To that effect, the firm this week launched a trio of Treasury bond laddering strategies: six-month, 12-month and 24-month offerings, managed by its Wasmer Schroeder Strategies team. "There are two bond investors: total return and income," Lafferty said. "For income investors, those higher yields are still at the shorter end, and these might be people who are pulling income out of their portfolio or retirees who need to spend their current income," he added. For investors who are thinking longer term, Schwab offers 5-year to 15-year ladders, as well as a 1-year to 5-year variety.

Persons: Bond, Charles Schwab, Warren Buffett, US3M, David Lafferty, Schroeder, Lafferty, Schwab Organizations: Federal Reserve, Schwab Asset Management, Treasury

☆ ‘Who Picked Wings for This Menu?’: Business Lunches Are Back, and Awkward
▼ + stars: | 2023-08-02 | by ( Ray A. Smith | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ 'Barbenheimer's' $246 million weekend joins 'Star Wars' and 'Avengers' as one of the biggest openings ever
▼ + stars: | 2023-07-24 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

So, while the movies share nothing other than a release date, their box office performances have been intertwined. Because of the "Barbenheimer" effect, many moviegoers who had only planned to see one of the two films ended up watching both. When forecasting for the two movies first started, experts predicted that "Barbie" would have an opening weekend in the $50 million to $60 million range, while "Oppenheimer" looked poised to sell between $30 million and $40 million worth of tickets. "Barbie's" $162 million share of that figure set the record for biggest opening weekend ever for a female director. Here's how the "Barbenheimer" $246.2 million opening weekend stacks up among the biggest movie openings of all time, according to Comscore data.

Persons: Greta Gerwig's, Christopher Nolan's, Oppenheimer, Paul Dergarabedian, Barbie, Dergarabedian

☆ How the Gilgo Beach Suspect Wielded Power in Brownstone Brooklyn
▼ + stars: | 2023-07-21 | by ( Ginia Bellafante | More About Ginia Bellafante | ) www.nytimes.com time to read: +2 min

In his role as a consultant, Mr. Heuermann was often the person brought in to make these sorts of determinations. Like so many professions, architecture can be punishingly stratified, and Mr. Heuermann, who by all accounts was extremely knowledgeable about the city’s labyrinthine building codes, did not fall on the visionary side of the spectrum. Last week a friend called to say that someone had been apprehended in the Gilgo Beach murders and that, however astonishingly, we both knew him. Mr. Heuermann had been in her apartment — deeply aggravating in the moment and intensely creepy in retrospect — and had been rude and dismissive when her architect called him out on a miscalculation he made. During her own renovation, she told me, workers discovered some rotting beams between her apartment and the one above, a problem that Mr. Heuermann said needed to be remedied with drawings for the replacements, which he would produce.

Persons: Heuermann, Kelly Parisi Organizations: Fifth, AMS, Brooklyn Heights, Yale Locations: Massapequa, New York, Nantucket

☆ These 5 charts capture a rollercoaster 15 months for stocks, bonds, and crypto as the Fed pauses its tightening campaign
▼ + stars: | 2023-06-15 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Over the past 15 months, its monetary-tightening campaign fueled wild swings for stocks, bonds, and cryptocurrencies. The central bank didn't raise interest rates at the end of its June meeting Wednesday, opting not to lift borrowing costs for the first time in over 15 months. Stocks, bonds, and cryptocurrencies have all swung wildly over that period – and these five charts capture some of that chaos. When interest rates rise, stocks tend to fall because investors are able to earn better returns by parking their cash in a savings account, rather than buying shares in listed companies. Bond yields spikeBond prices also tend to slide when interest rates rise, again because would-be buyers can earn higher yields by depositing their cash in a bank.

Persons: —, –, Jerome Powell, they've Organizations: Federal Reserve, Service, Stock, Fed, Nasdaq, Dow Jones, Silicon Valley Bank, JPMorgan Chase, Western Alliance, Bitcoin Locations: Silicon, Francisco's, Beverly Hills

☆ Drawings done by King Charles as a small child go up for sale
▼ + stars: | 2023-06-14 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —Sweet crayon drawings by a very young King Charles III will show a different side to Britain’s royal family when they come up for auction this week. Emma Errington/Hansons AuctioneersIt is thought that Charles drew the crayon and pencil pictures of his parents between 1953 and 1955, when he would have been about 5 or 6 years old. The young prince chose a more sober black and white for his drawing of his father, Prince Philip. There are eight other drawings by the young Prince Charles, as he was at the time. There is also a cartoon-style illustration, thought to have been done between 1954 and 1956, which the young prince drew for his father.

Persons: King Charles III, Queen Elizabeth II, Prince Philip, Charles, Emma Errington, Charles ’ “ Papa ”, Hansons Auctioneers, Charles Hanson, “, Prince Charles, carmine, “ Charles ”, “ Happybright, ”, Papa, Princess Anne, ” CNN’s Oscar Holland Organizations: CNN Locations: Britain, “, London

Morgan Stanley analyst warned of potentially big swings for some of the regional banks it covers as the fallout for the crisis continues. Analyst Manan Gosalia downgraded Commerce Bancshares and Prosperity Bancshares to underweight from equal weight. Commerce Bancshares' new price target of $48 implies shares declining 3.5% from Monday's close. Meanwhile, the analysts' new price target of $60 per share for Prosperity Bancshares implies a 1% loss from where shares closed on Monday. To be sure, the analyst said that in the case deposit outflows do accelerate, Commerce Bancshares and Prosperity Bancshares would end up outperforming their peers due to their "generally more resilient funding profiles."

☆ Premarket stocks: The Fed could be on the verge of repeating its 1970s mistake
▼ + stars: | 2023-05-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

But Gary Richardson, a Federal Reserve historian, is worried policymakers — now contemplating taking a breather — still risk repeating mistakes from that era. A premature retreat could cause the Fed to lose its handle on the situation, presenting even grimmer options down the road. Quick rewind: The chair of the Federal Reserve at the time, Arthur Burns, hiked interest rates dramatically between 1972 and 1974. Inflation later roared back, forcing the hand of Paul Volcker, who took over at the Fed in 1979, Richardson said. But the comparisons reveal the high stakes for the Federal Reserve at a moment of acute uncertainty.

The off-balance sheet borrowings incurred after fiscal year 2021 will continue to be adjusted over the next three financial years, said one of the sources. However, from here on, any new off-balance sheet borrowings will be adjusted in the same year or the year after they have been incurred, the source added. In one year, the adjustment from borrowing requirements will not be more than 0.25% of gross state domestic product, said a the second source. Reuters GraphicsLower market borrowing by state governments was one factor that helped keep federal government bond yields in check in 2022-2023. State governments also had high cash balances at the start of the previous year, which helped bring down borrowings, said ICRA.

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