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☆ Grammys 2023: A Beyoncé vs. Adele Rematch, and Everything Else You Need to Know
▼ + stars: | 2023-02-03 | by ( Neil Shah | ) www.wsj.com time to read: 1 min

Even among the many Grammy Awards shows with highly competitive races between artists, this year stands out. Consider all the questions fans have to pore over: Will it finally be Beyoncé’s year? If so, where does that leave Kendrick Lamar? Will Bad Bunny make history for Latin artists? Or will coveted prizes go to industry titans like Adele and Taylor Swift and insider picks such as ABBA and Coldplay?

☆ Despite big layoffs, it’s still a great time to work in tech, experts say: ‘I’ve seen bad job markets…this is not it’
▼ + stars: | 2023-02-03 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Mathur is one of the more than 70,000 employees at U.S.-based tech companies that have lost their jobs in mass job cuts over the past 12 months. However, despite the recent barrage of pink slips, experts say it's still a great time to be a technology worker. Nearly 80% of laid-off tech workers found new roles within three months of beginning their job search, according to a November 2022 ZipRecruiter survey. Elliott has noticed increased interest in smaller companies among the tech professionals he coaches following the latest round of layoffs. "Tech workers are changing the parameters around their job search," he says.

☆ Sen. Kyrsten Sinema pulls in cash from Wall Street, real estate titans as she mulls reelection bid
▼ + stars: | 2023-02-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

Real estate and private equity leaders, who have long helped to fill Sinema's campaign coffers, contributed to a healthy cash haul for the senator in the final months of last year. At the lunch, Sinema discussed the incoming Congress and how the tight margins in both chambers could create gridlock, according to attendees. Sinema's campaign had already seen more than $2 million from the securities and investment industry since the 2018 election cycle. The Sinema campaign saw dozens of contributions totaling over $145,000 from people who work at Apollo Global Management, another giant private equity firm, since October. Suzanne Clark, CEO of the massive pro-business lobbying group U.S. Chamber of Commerce, also donated $1,000 to Sinema's campaign on Dec. 31, the new FEC filing shows.

REUTERS/Dado Ruvic/IllustrationFeb 1 (Reuters) - Match Group Inc (MTCH.O) said on Wednesday it would lay off about 8% of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations. Shares of the Texas-based firm were down 7.8%, having lost 11% after the bell on Tuesday following its downbeat forecast. The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession. The workforce reductions at Match are in-line with staff cuts across the broader tech sector, Zino added. Reuters GraphicsMatch forecast first-quarter revenue between $790 million and $800 million on Tuesday, lower than analysts' estimates of $817.3 million, according to Refinitiv data.

☆ Tom Brady Retires: The Revised Edition
▼ + stars: | 2023-02-01 | by ( Ben Shpigel | ) www.nytimes.com time to read: +12 min

Tom Brady of the Tampa Bay Buccaneers is retiring from football. His seven Super Bowl titles are more than any single organization has won. He was twice foiled in the Super Bowl by the New York Giants. Brady racked up yardage but Tampa Bay fired its offensive coordinator, Byron Leftwich. Look again, though, at the piercing final play from that game: A 30-yard Rams field goal, the ball snapped from the Tampa Bay 12-yard line.

☆ Premarket stocks: Will the Fed end the 2023 market rally?
▼ + stars: | 2023-02-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

So will Fed Chair Jerome Powell dampen expectations and reiterate that the fight against inflation still has a way to go, or will the Fed show signs that they’re ready to ease up on rate hikes? Wall Street analysts also expect the Fed will stop hiking altogether by the spring. This will leave the market hanging on the future of how many rate hikes we will see.”He’s preparing for a volatile market reaction. But now, investors may be a bit too eager to end treatment, even as Fed officials warn that doing so would be premature. Stocks close out a jubilant JanuaryThe greatest comebacks of all time: Rocky Balboa, JNCO jeans, Apple and now… the US stock market.

☆ Bitcoin and other cryptos slump as the Fed gets ready to raise interest rates again
▼ + stars: | 2023-01-31 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Crypto markets are slipping as the two-day meeting of the Federal Reserve kicks off. A blockchain exec broke down how crypto markets are thinking about this week's expected rate hike. Ethereum is flat ahead of the central bank meeting, trading at $1,585. Recent economic data points indicate that high inflation is easing, giving the central bank room to pull back on monetary tightening. "Any movement ahead of the Fed meeting is mere correlation," Jeremy Epstein, CMO of smart contract platform Radix, told Insider.

☆ Norway's gigantic sovereign wealth fund loses a record $164 billion, citing 'very unusual' year
▼ + stars: | 2023-01-31 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Norway's sovereign wealth fund was established in the 1990s to invest the surplus revenues of the country's oil and gas sector. Norway's sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion Norwegian kroner ($164 billion) for the whole of 2022, citing "very unusual" market conditions. The $1.3 trillion fund was established in the 1990s to invest the surplus revenues of Norway's oil and gas sector. Norway's vast North Sea oil and gas reserves are the bedrock of the fund's wealth. Indeed, the country's skyrocketing fossil fuel revenues amid Russia's war in Ukraine have prompted an impassioned debate about international justice.

☆ Payments firm PayPal to lay off 7% of its workforce to cut costs
▼ + stars: | 2023-01-31 | by ( Manya Saini | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - PayPal Holdings Inc (PYPL.O) said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown. The payments firm also joins Big Tech firms and Wall Street titans, which are executing layoffs across corporate America as companies look to rein in costs to ride out the downturn. Shares of the payments firm, which lost about 60% of their value last year, were up about 2% in afternoon trading. "Similar to other tech companies, PayPal is seeking to position itself financially and strategically, bracing for an economic slowdown," said Moshe Katri, analyst at Wedbush. In November, PayPal had cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its U.S. e-commerce business in the holiday quarter.

☆ Drugmaker Amgen lays off 300 U.S. employees
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

Jan 30 (Reuters) - Drugmaker Amgen Inc (AMGN.O) said on Monday that it let go about 300 U.S. employees or about 1.2% of its total workforce, citing recent organizational changes to its commercial team. The company had about 24,200 staff members in over 50 countries, as of December 31, 2021, according to its latest annual regulatory filing with the U.S. Securities and Exchange Commission. Big Tech firms and Wall Street titans have led a string of layoffs across corporate America in recent weeks. Amgen's move to trim its workforce shows how rapid interest rate hikes and a fading boom in demand post pandemic has begun to weigh on the healthcare sector. Reporting by Bhanvi Satija in Bengaluru; Editing by Savio D'Souza and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ 5 things to know before the stock market opens Monday, January 30
▼ + stars: | 2023-01-30 | by ( Mike Calia | ) www.cnbc.com time to read: +4 min

This week it will run into some big tests, given the earnings schedule dominated by big tech names (more on that below) and the Federal Reserve's next moves. Here's a look at the earnings week ahead: Tuesday: General Motors McDonald's UPS Pfizer Spotify Snap AMDWednesday: Peloton MetaThursday: Apple Alphabet Amazon Ford Starbucks Qualcomm3. Renault aims to cut Nissan stakeRenault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. France's Renault and Japan's Nissan have agreed to restructure their agreement, which they struck in 1999. The overall health and size of its business allows it to mix things up and try new things.

Jan 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. It looks like a quiet start to the week in Asia on Monday, but don't be fooled - it may be the calm before the storm. The MSCI Asia ex-Japan index is at a nine-month high and up more than 30% from the October low. It has risen in 11 of the last 13 weeks and is on course for a monthly gain of 11%. China reopens after the Lunar New Year holiday, so trading volumes in Asia will return to something resembling normal.

But add a candidate representing the Bernie Sanders wing of the party, Ro Khanna, and a living legend who got her start with the Black Panthers and would become the only Black woman in the Senate, Barbara Lee — now you're talking about a California Senate race for the ages. Reaching voters isn’t easy in California, with a population approaching 40 million and a land mass bigger than that of many countries. But the race will affect the future of the Democratic Party, both in California and beyond. “An appointment would be a way to make sure that this country has the essential voice of a Black woman,” Allison said. And I don’t see and I don’t understand why it isn’t happening.”Meanwhile, as Lee watches Feinstein, Bernieworld is watching Lee.

☆ Norway’s fossil fuel bonanza stokes impassioned debate about how best to spend its ‘war profits’
▼ + stars: | 2023-01-26 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

It has ignited an impassioned debate about international justice, with many questioning whether it is fair for Norway to rake in record oil and gas revenues at the expense of others' misfortune. Norway's Finance Ministry expects the state's revenues from oil and gas sales to climb to 1.38 trillion Norwegian krone ($131 billion) this year. "They are war profits," Lars-Henrik Paarup Michelsen, director of the Norwegian Climate Foundation think tank, told CNBC via telephone. Oil companies are getting richer and richer, but we don't see that money — and who is really paying for this? The so-called Government Pension Fund Global, among the world's largest sovereign wealth funds, was established in the 1990s to invest the surplus revenues of Norway's oil and gas sector.

☆ Inside the private meeting at Jack Ma's apartment where he plotted to take on Silicon Valley with a trusted 'ragtag bunch' of early employees
▼ + stars: | 2023-01-24 | by ( Brian A. Wong | ) www.businessinsider.com time to read: +8 min

In one apartment, Jack, Lucy Peng, and a few other leaders worked alongside the firm's engineers. Everyone's enthusiasm flowed from their strong identification with the company's mission and Jack's vision, and if it was part of our mission, all believed, it was certainly achievable. In fact, in time, I would grow to better understand and more deeply embrace Alibaba's mission, vision, and values and the way they motivated our people. That's what Savio Kwan, Alibaba's first COO, did, codifying Jack's ideas into our company mission, vision, and values. Their efforts would form the basis of Alibaba's core mission, vision, and values statement— the guiding force or beliefs for Alibaba's development then and now.

Yogesh Raut on "Jeopardy!" Fans of the venerable answer-and-question show were introduced to Raut on Jan. 11 when he won the first of three games, which were taped in mid-November. That true quizzing talent isn't displayed on "Jeopardy!" Raut was annoyed that word leaked that another big name in the quiz community, Troy Meyer, was on the "Jeopardy!" It is fundamentally incompatible with incentivizing the next generation of quizzers to excel, and it is fundamentally incompatible with true social justice.”A "Jeopardy!"

☆ Inside Ken Griffin's rise to one of Wall Street's most powerful people, and why politics could be next
▼ + stars: | 2023-01-23 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +30 min

JB and I are not on speaking terms these days," said Ken Griffin, the billionaire hedge-fund manager, referring to JB Pritzker, the Democratic governor of Illinois. As Florida rolled back pandemic restrictions more quickly than Chicago, even more Citadel employees migrated south. Ken Griffin's hedge fund has had a run of eye-popping returns since 2020. Others worry that it gives Griffin's hedge fund an unfair advantage. Hundreds of Citadel employees, partners, and families gathered at the Orange County Convention Center in Orlando Florida.

☆ CEOs can't stop talking about a recession, but one bright spot is bucking every real-estate trend
▼ + stars: | 2023-01-23 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Prologis, the largest holder of US industrial real estate, beat Q4 expectations last week. As the rest of the real estate market faces layoffs, warehouses are bucking the trend. Prologis CEO Hamid Moghadam said warehouse demand will stay high as other markets crumble. In past recessions, there was plenty of empty warehouse space from the start, causing low prices to get lower. Warehouse space thus becomes an investment in future success.

☆ Clash of the titans: Billionaire activist investors are putting pressure on top CEOs who were once thought untouchable
▼ + stars: | 2023-01-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

The bear market in stocks last year has opened up a new window for aggressive activist investors. Once high-flying tech stocks and beloved brand names are subject to unfamiliar pressure from billionaire activists. Marc Benioff of Salesforce and Bob Iger of Disney are the latest high-profile CEOs to face pressure. Nelson Peltz of the Trian Fund and Paul Singer of Elliott Management recently launched activist investor campaigns against Disney and Salesforce, respectively. Activist campaigns targeting firms of this size and caliber are uncommon, but their struggling share price has painted a target on management's back.

☆ Did the economy end 2022 with a bang or a whimper?
▼ + stars: | 2023-01-22 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

But the United States economy still seems to be chugging along just fine after experiencing a hiccup in the first half of 2022. Despite worries about weaker consumer spending during the holidays, economists are forecasting solid growth for the fourth quarter. Yearning for earningsMore blue chip companies will report fourth quarter results (and perhaps give guidance about the first quarter of 2023 and beyond) this week. But according to FactSet senior earnings analyst John Butters, earnings for the tech sector are expected to fall nearly 10% in the fourth quarter compared to the fourth quarter of 2021. Verizon (VZ), Johnson & Johnson (JNJ), Travelers (TRV), 3M (MMM), Boeing (BA), Dow (DOW), Visa (V), Chevron (CVX) and American Express (AXP).

☆ How Charlie Javice's Frank Sale to JP Morgan Wound up in Allegations of Fraud
▼ + stars: | 2023-01-21 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +21 min

Her financial aid startup, Frank, was featured in the New York Times, CNBC and Wall Street Journal. After leaving the University of Pennsylvania's Wharton business school, Javice traded on her reputation, bolstered by glowing profiles, as a successful entrepreneur. In a 2018 interview with Insider, Javice claimed Frank secured an average of $28,000 for its users, and was helping students get "thousands off their tuition." "Charlie's first company fizzled after 18 months, so after losing all her investors' money, she convinced every one of them to fund her next company, Frank." At Frank, Javice admitted she sometimes painted a more positive picture of the company's health than was supported by the facts.

Increasingly, they said conversations in C-suites and with financiers had turned to the risks that climate change presented to businesses. Climate activist Greta Thunberg made the journey up the Swiss Alps to call on the global energy industry and its financiers to end all fossil fuel investments. Suni Harford, the president of UBS's asset management arm who leads the bank's sustainability efforts, said her conversations at Davos suggested no let up in focus on climate, despite the shorter-term pressures. "Clients are becoming ever more informed on the energy transition, demand for sustainable and green products has held up well, and clients are increasingly looking to measure the impact of their portfolios." "Put forward credible and transparent transition plans on how to achieve net zero – and submit those plans before the end of this year," Guterres said in a speech.

☆ Morning Bid: Japan hesitates
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +4 min

Judging by Wednesday's reaction, world markets reckon Japan will eventually abandon its ultra-loose monetary policy despite a stubborn doubling down this week - and overseas ructions may be less than feared. But after some wild gyrations on the initial announcement, the market reaction was rather muted on balance. Japan's Nikkei (.N225) ended 2.5% higher, but it closed before the yen rebound in European hours. The release of December U.S. producer price, retail sales and industrial production numbers later on Wednesday now takes centre stage. U.S. Treasury auctions 20-year bonds* Bank of Japan policy decision.

☆ Microsoft's major layoffs prove that no tech giant is safe from the market downturn
▼ + stars: | 2023-01-18 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Microsoft is the latest tech giant to have major layoffs, with plans to cut 10,000 employees. It's a strategy that will help these tech giants weather the ongoing downturn and come out on top, he added. Microsoft's layoffs also bring attention to the fact that the only tech giants that have avoided significant layoffs this cycle are Google and Apple. In another note to clients, RBC analysts advised C-suite leaders to bring down their quarterly and yearly revenue estimates even more. Got a tip about tech layoffs?

☆ Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum
▼ + stars: | 2023-01-17 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +3 min

DAVOS, Switzerland, Jan 17 (Reuters) - Business titans trudging through Alpine snow can't stop talking about a chatbot from San Francisco. Businesses including CarMax Inc (KMX.N) have already used Microsoft and OpenAI's tech, such as to generate thousands of customer review summaries when marketing used vehicles. Such buzz carried through gatherings at Davos, like talk about a slide-generating bot dubbed ChatBCG after the management consulting firm. loadingGenerative AI is "a game-changer that society and industry need to be ready for," stated an article on the World Economic Forum's website. Reporting By Jeffrey Dastin in Davos, Switzerland; Editing by Kenneth Li and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

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