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☆ Amazon seller consultant admits to bribing employees to help clients; will plead guilty
▼ + stars: | 2023-03-27 | by ( Annie Palmer | ) www.cnbc.com time to read: +5 min

An influential consultant for Amazon sellers admitted Monday to bribing employees of the e-commerce giant for information to help his clients boost sales and to get their suspended accounts reinstated. "On some occasions, I paid bribes, directly and indirectly, to Amazon employees to obtain annotations and reinstate suspended accounts. Behind the scenes, scammers have for years resorted to illicit tactics to squash competitors, artificially boost their listings or bypass Amazon's marketplace rules. "No one should pay bribes to Amazon employees to provide private Amazon information," Rosenberg wrote on Monday. Nor should anyone pay any Amazon employees for any other special favors regarding a seller's account."

☆ Jeremy Grantham warns the 'everything bubble' is bursting, the S&P 500 could nosedive 50%, and a recession looks certain. Here are the elite investor's 12 best quotes from a new interview.
▼ + stars: | 2023-03-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Jeremy Grantham warned the S&P 500 could tank by up to 50% as the "everything bubble" bursts. Grantham advised against holding US stocks for now, and slammed the Fed for inflating asset bubbles. Grantham blasted the Federal Reserve for inflating asset bubbles time and again, and warned investors against holding US stocks in the short run. And yet, the Nasdaq went down 82%, Amazon went down 92%, and the S&P went down 50%. (Grantham was discussing how the the biggest asset bubbles form.)

☆ Stocks may crash 30% and the US economy could suffer a 2008-style collapse as the 'everything bubble' bursts, expert says
▼ + stars: | 2023-03-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Stephanie Pomboy expects US stocks to plunge 30% and a broad economic downturn to take hold. Consumers, businesses, and real estate developers are being hit by soaring interest rates, she said. The stock market could plunge 30%, and the current pressure on banks could spread to commercial real estate, corporate credit, municipal bonds, and other markets, Pomboy said. The upshot is that consumers are struggling to afford their car loans and credit cards, and many companies and real estate developers are feeling the squeeze, she continued. Here's what he said about the outlook for stocks and house prices, and the threat of a recession.

☆ Top economist David Rosenberg said the Fed should put bigger rate hikes back on the table after bouts of 'speculative lunacy'
▼ + stars: | 2023-03-22 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The Federal Reserve should weigh up another big interest-rate increase because of recent "speculative lunacy", according to David Rosenberg. "I am starting to wonder if 50 basis points shouldn't be back on the table," the top economist said. "After this recent round of speculative lunacy, I am starting to wonder if 50 basis points tomorrow shouldn't be back on the table," the Rosenberg Research president said on Twitter Tuesday. None of the investors surveyed by CME Group expected the 50-basis-point hike that Rosenberg said the Fed should be considering. The economist didn't elaborate on what he meant by "speculative lunacy" – but he was likely referring to an early-year rally for growth stocks, cryptocurrencies, and meme stocks.

☆ US stocks slip ahead of Fed's decision on interest rates following bank crisis
▼ + stars: | 2023-03-22 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks slipped Wednesday before the Federal Reserve's March rate decision. The Fed's decision is the first since SVB's collapse set off distress in regional banks. The policy decision is due at 2:00 p.m. Eastern and Fed Chairman Jerome Powell will speak at 2:30 p.m. Eastern. Cathie Wood says the Fed's rate hikes hit Ark's strategy like an 'earthquake' as the fund logs a $2 billion loss. Top economist David Rosenberg said the Fed should put bigger rate hikes back on the table after bouts of 'speculative lunacy'.

☆ A leading fund manager warns that regional banks could cause 'financial Armageddon' — unless the government makes 2 crucial moves immediately
▼ + stars: | 2023-03-19 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Financial stress stemming from Silicon Valley Bank's collapse could spread, a top fund manager said. But that in itself is becoming an under-the-radar issue, he noted, as large banks' strength is now coming at the expense of regional banks — even those without issues. Since most regional banks aren't classified as "systemically important," their clients would be out of luck in the event of a bank failure, Hatfield noted. Unless the FDIC insures all deposits at all banks, Hatfield said that there will be no reason to put money in a non-protected regional bank. So they'll have a negative interest margin, they'll lose money, they'll get downgraded, and they'll go out of business."

☆ Brace for a 'crash landing' as the US economy barrels toward recession, top economist David Rosenberg warns
▼ + stars: | 2023-03-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

David Rosenberg has warned the US economy is headed for a "crash landing" or major downturn. Rosenberg told Insider in February that the S&P 500 could plunge 25% from its current level. "Philly Fed at a level that is 8 for 8 on the recession call and with no head fakes," Rosenberg said. He was commenting on the fact that stocks didn't rally, despite mounting expectations that the Fed won't hike interest rates this month. Moreover, they can put pressure on banks' bond holdings, as bond prices move inversely to interest rates.

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☆ More rate hikes a 'serious policy error': David Rosenberg on the Fed's next move
▼ + stars: | 2023-03-16 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore rate hikes a 'serious policy error': David Rosenberg on the Fed's next moveDavid Rosenberg of Rosenberg Research on what's next for the markets. With CNBC's Melissa Lee and the Fast Money traders, Carter Worth, Karen Finerman, Guy Adami and Tim Seymour.

☆ New York bike path attacker spared death penalty after jury deadlocks
▼ + stars: | 2023-03-13 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

REUTERS/Jane RosenbergNEW YORK, March 13 (Reuters) - Sayfullo Saipov, the man convicted of killing eight people in an attack on a Manhattan bike path in 2017, was spared the death penalty on Monday after a federal jury deadlocked on whether he should be executed. Saipov's case is the first federal death penalty trial since President Joe Biden, a Democrat, took office in 2021 after pledging during his campaign to abolish capital punishment. Jurors agreed that other aggravating factors weighed in favor of the death penalty, including that Saipov planned his attack in advance and carried it out to support Islamic State. Patton said in his closing argument that the death penalty was "not necessary to do justice." Prosecutors sought the death penalty despite U.S. Attorney General Merrick Garland's July 2021 moratorium on federal executions so the Department of Justice could review its use of the punishment.

☆ Dick Rosenberg Seized the Moment of the Megabank
▼ + stars: | 2023-03-12 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

Richard Rosenberg, in 1989, ‘was always on the move, even when he was sitting.’The banking industry was a collection of regional fiefs when Richard Rosenberg took the helm of BankAmerica Corp. in 1990. By the time he left, his company was on course to become a nationwide force. Regulatory changes were allowing banks to stretch their branch networks across the country for the first time. So Mr. Rosenberg took the bank on an acquisition spree, including a $4 billion-plus purchase that was the largest-ever bank merger at the time.

☆ Stocks may crash 30% in 60 days as Americans run short of cash and investors jump ship, a markets guru says
▼ + stars: | 2023-03-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

US stocks could plummet as much as 30% over the next two months, Larry McDonald said. "The Bear Trap Report" founder sees higher interest rates choking demand and hammering the economy. McDonald also predicts investors will swap stocks for bonds to earn higher yields. McDonald estimated that every 1% increase in rates translates into a $50 billion rise in costs for middle-class Americans. He noted that interest rates on US auto loans are approaching 14%, and nearly 20% of those loans cost over $1,000 each month.

☆ Don't expect EU to win big concessions on IRA, Amundi Institute says
▼ + stars: | 2023-03-09 | 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 EmailDon't expect the EU to win big concessions on the IRA, Amundi Institute saysAnna Rosenberg of the Amundi Institute says "ultimately, the EU cannot match the [U.S. Inflation Reduction Act.]"

☆ Biden to host EU chief as Europe hopes to avoid subsidy race with the U.S.
▼ + stars: | 2023-03-08 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

President of the European Commission, Ursula von der Leyen (L) speaks with US President Joe Biden. President Joe Biden will welcome Ursula von der Leyen to the White House this week, with the European Union's top official eager to gain concessions amid a tense subsidy spat between the two giant trading blocs. "We want to achieve as much non-discriminatory treatment for EU products and companies as possible, avoiding distortions of the level playing field," a spokesperson for the European Commission, told CNBC via email Friday. This could ultimately mean less innovation in Europe and fewer jobs for Europeans too. "I do not think [European Commission President Ursula] von der Leyen will manage to extract meaningful concessions from the U.S. on the IRA.

☆ Lumber prices are falling - and that means there's no need to fret about inflation, top economist David Rosenberg suggests
▼ + stars: | 2023-03-07 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Falling lumber and natural gas prices are reasons not to fret over inflation, according to David Rosenberg. the veteran economist asked in a Monday tweet, saying it's maybe a problem in the services sector of the US economy. Rosenberg has repeatedly shrugged off inflation concerns as price pressures decline from their mid-2022 highs. US natural gas prices plunged 13% on Monday as a streak of mild winter weather hurt demand. That has seen price pressures ease somewhat in recent months, with the latest reading coming in at 6.4% through January.

☆ Richard Rosenberg, former Bank of America chief who doubled its assets, dies
▼ + stars: | 2023-03-06 | by ( Lananh Nguyen | ) www.reuters.com time to read: +1 min

NEW YORK, March 5 (Reuters) - Richard Rosenberg, the former Bank of America Corp (BAC.N) chief executive who presided over a spree of acquisitions that doubled the bank's assets, has died. Rosenberg, a former Navy commander, served as the bank's chairman and CEO from 1990 to 1996. He took the helm as the industry was deregulating and orchestrated several major deals including a $4 billion merger with Security Pacific National Bank, one the largest banking deals of its time. They have since swelled to more $3 trillion after more deals, including the purchase of Merrill Lynch during the 2008 financial crisis. He joined Bank of America in 1987 to run its California operations, helping the company to swing to a profit from losses.

☆ Israelis rally again against government's judicial overhaul
▼ + stars: | 2023-03-04 | by ( Emily Rose | ) www.reuters.com time to read: +2 min

[1/5] An aerial view shows Israelis demonstrating as Israeli Prime Minister Benjamin Netanyahu's nationalist coalition government presses on with its contentious judicial overhaul, in Tel Aviv, Israel March 4, 2023. REUTERS/Ilan RosenbergTEL AVIV, March 4 (Reuters) - Tens of thousands of protesters took to the streets of Israeli cities for the ninth straight week on Saturday to fight a government plan to overhaul the country's court system. Saturday night's demonstrations in Tel Aviv and other locations continued peacefully, unlike protests earlier this week that descended into violent clashes with police. Proponents say the Supreme Court needs to be reined in from overreaching into the political sphere. Israeli police had fired stun grenades and scuffles broke out in Tel Aviv on Wednesday during a nationwide "day of disruption," raising the intensity of the protests.

☆ Expect stocks to struggle amid surging rates, says David Rosenberg
▼ + stars: | 2023-03-02 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect stocks to struggle amid surging rates, says David RosenbergDavid Rosenberg of Rosenberg Research digs in on the impact of rising rates. With CNBC's Melissa Lee and the Fast Money traders, Karen Finerman, Dan Nathan, Guy Adami and Jeff Mills.

☆ AI-generated audio of Joe Biden and Donald Trump trashtalking while gaming is taking over TikTok
▼ + stars: | 2023-03-01 | by ( Allegra Rosenberg | ) www.businessinsider.com time to read: +8 min

On TikTok, faked audio created by AI of Joe Biden and Donald Trump gaming has become a hit meme. But the ease with voice AI can be used for jokes also shows how easy it is to fake convincing quotes. The Biden Cinematic UniverseOn the @bidenandfriends TikTok account, "Sleepy Joe" plays Minecraft and other video games with his best (and worst) buddies. Other political and celebrity figures pop up in various installments, but the core trio of Trump, Biden, and Obama seems to persist across the lore. "I remember when people thought AI would kill us all, but this is how we use it," commented one TikTok user.

☆ The stock market could retest October lows by midyear as a looming recession hits the US economy, Evercore's Julian Emanuel says
▼ + stars: | 2023-02-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Stocks could slide 10% back to October lows over the next three to six months, according to Evercore's Julian Emanuel. The Fed will keep raising interest rates, Emanuel warned, lowering the odds of a soft landing. But that's unlikely as central bankers will keep on tightening interest rates, Emanuel said, which could mean more downside for stocks. Fed officials raised interest rates 425 basis-points last year to tackle rising inflation, a move that caused the S&P 500 to lose 20%. "The Fed's going to just keep going until something either softens, or invariably, as it has through most of history, breaks," Emanuel warned.

U.S. officials said the Labor Department had seen a nearly 70% increase in child labor violations since 2018, including in hazardous occupations. In the last fiscal year, 835 companies were found to have violated child labor laws. It has created an interagency task force on child labor, and plans to target industries where violations are most likely to occur for investigations. The Hearthside investigation is the latest in an uptick of similar probes. Reuters last year published a series of stories on child labor including revelations about the use of child labor among suppliers to Hyundai, including a direct subsidiary of the Korean auto giant, in the U.S. state of Alabama.

U.S. officials said the Labor Department had seen a nearly 70% increase in child labor violations since 2018, including in hazardous occupations. In the last fiscal year, 835 companies were found to have violated child labor laws. It has created an interagency task force on child labor, and plans to target industries where violations are most likely to occur for investigations. The Hearthside investigation is the latest in a rise in similar probes. Reuters last year published a series of stories on child labor including revelations about the use of child labor among suppliers to Hyundai, including a direct subsidiary of the Korean auto giant, in the U.S. state of Alabama.

☆ Soft, hard, or no landing at all: Here's what 5 Wall Street experts are saying about the fate of the US economy in 2023
▼ + stars: | 2023-02-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Here's what five Wall Street experts are saying about the fate of the economy this year. Here's what five Wall Street experts are saying about the fate of the economy this year. Jamie Dimon, JPMorgan CEOJamie Dimon REUTERS/ Larry DowningA soft landing is possible, but markets are facing some "scary stuff" ahead, according to the JPMorgan boss. Kevin O'Leary, "Shark Tank" investorKevin O'Leary Mark Davis / Staff / Getty Images"Shark Tank" investor Kevin O'Leary remained optimistic on the market in 2023, and made the case for a soft landing. "We may actually get what people keep saying is impossible … a soft landing.

☆ US stocks fall after new inflation data boosts outlook the Fed will stay aggressive
▼ + stars: | 2023-02-24 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

US stocks slid on Friday after key inflation data came in hotter than expected. Core PCE, the central bank's preferred inflation measure, rose 0.6% in January, higher than economists' estimates. Core Personal Consumption Expenditure data, the central bank's preferred inflation measure, increased 0.6% from a month earlier, higher than economists' estimates and the most since June. Treasury yields jumped, with the two-year yield hitting 4.79%, its highest level since 2007. Tesla boss Elon Musk reiterated his view that the central bank's tightening could crush the value of the entire stock market.

☆ Rosenberg Research's David Rosenberg explains why the no landing narrative is a hoax
▼ + stars: | 2023-02-24 | 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 EmailRosenberg Research's David Rosenberg explains why the no landing narrative is a hoaxDavid Rosenberg, Rosenberg Research founder and president, joins 'Squawk on the Street' to discuss his thoughts on what to expect from Fed rate hikes and the market in 2023.

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