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☆ What John Blake discovered when he met the White mother he never knew
▼ + stars: | 2023-04-30 | by ( John Blake | ) edition.cnn.com time to read: +25 min

It’s a story about my mother, and the White relatives who shunned me at birth—and still somehow became family. I now know one of the reasons my family didn’t tell me about my mom’s illness is because they didn’t know how. I vividly recall thinking as I looked at my mom: I didn’t know a White person could suffer like this. I saw White, Black, and brown people hug and call each other “brother” and “sister” after worship service. John Blake is a Senior Writer at CNN and the author of “More Than I Imagined: What a Black Man Discovered About the White Mother He Never Knew.”

But the benchmark S&P 500 (.SPX) advanced for the week as well as the day and registered a second consecutive monthly gain. For the month the S&P rose 1.5% while the Dow added 2.5% and the Nasdaq was barely higher. For the week the S&P rose 0.9% in line with the Dow's weekly gain and the Nasdaq rose 1.3%. While the S&P 500 bank index closed up 1.1%, shares in First Republic tumbled in the regular session and after the close. The S&P 500 posted 25 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 66 new highs and 136 new lows.

Chipmaker Intel Corp (INTC.O) gained 4.7% after it said gross margins will improve in the second half of the year. Analysts now expect first-quarter earnings for S&P 500 companies to fall 1.9% from a year ago compared with a 5.1% fall expected at the start of April, according to Refinitiv data. The KBW Regional Banking index (.KRX) and the S&P 500 bank index (.SPXBK) gained over 1% each. Advancing issues outnumbered declining ones on the NYSE by a 2.90-to-1 ratio; on Nasdaq, a 2.07-to-1 ratio favored advancers. The S&P 500 posted 24 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 53 new highs and 107 new lows.

Solis, 64, lives on the banks of Mexico's Villa Victoria reservoir, which supplies water to the bustling capital hours away but does not reach her own faucets. Villa Victoria is part of the Cutzamala System, the source of water for about six million people in Mexico City and the surrounding state of Mexico. Climate change, chaotic urban growth and inefficient infrastructure have strained Mexico's water supplies, pushing the Cutzamala System's stores to their lowest level in 27 years. Mexico City is also tapping alternative sources of water outside the Cutzamala System, including by replacing wells in the Zumpango area in the state of Mexico. But for people like Israel, who lives just a few minutes' drive from the Cutzamala System's water treatment plant and asked not to use his last name, the constitution's promise is increasingly distant.

☆ PricewaterhouseCoopers to Pour $1 Billion Into Generative AI
▼ + stars: | 2023-04-26 | by ( Angus Loten | ) www.wsj.com time to read: 1 min

In addition to embedding generative AI in its own operations, PwC hopes to advise other companies on how to use the technology. Photo: Leon Neal/Getty ImagesPricewaterhouseCoopers LLP plans to invest $1 billion in generative artificial intelligence technology in its U.S. operations over the next three years, working with Microsoft Corp. and ChatGPT-maker OpenAI to automate aspects of its tax, audit and consulting services. The accounting and consulting giant said the multiyear investment, announced Wednesday, includes funding to recruit more AI workers and train existing staff in AI capabilities, while targeting AI software makers for potential acquisitions.

☆ NHL roundup: Isles edge Hurricanes, extend series
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Paul Stastny and Sebastian Aho scored the Carolina goals, and Antti Raanta recorded 19 saves. The Islanders, who began the third with a 3-1 lead, were in a protective mode in the period, producing only five shots on goal. Hintz has 11 points in the series (four goals, seven assists), surpassing Mike Modano for the most points in a playoff series in team history. Oilers 6, Kings 3Nick Bjugstad posted his first career two-goal playoff game to pace Edmonton to a victory over visiting Los Angeles, putting the Oilers one win away from claiming their Western Conference first-round playoff series. Evander Kane, Leon Draisaitl, Brett Kulak and Zach Hyman also scored for the Oilers, who hold a 3-2 lead in the best-of-seven series.

☆ NHL roundup: Oilers prevail in OT, level series with Kings
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +4 min

Kevin Fiala contributed two assists as he made his playoff debut for Los Angeles after missing the past three weeks with a lower-body injury. The Oilers erased a 3-0 deficit by scoring three straight goals in the second period. After winning both games in Sunrise, the Presidents' Trophy winners will try to clinch the series in Boston on Wednesday night. Florida got goals from Tkachuk and Sam Bennett, with the goal by Bennett Florida's first successful power play of the series. Roope Hintz collected three assists for the Stars, giving him eight points (four goals, four assists) in the series.

☆ A new book by a Pulitzer Prize winner unsuccessfully tries to take down the private equity industry and fixates on Leon Black. Here's what it gets wrong.
▼ + stars: | 2023-04-24 | by ( Jonathan A. Knee | ) www.businessinsider.com time to read: +7 min

The economic and political influence of the private equity sector has exploded in the last 20 years. It's true that few topics have attracted greater attention from not only crusading journalists but serious academics than the impact of private equity ownership. This supports their belief that private equity firms "carry very little risk if the company fails." This view of a "typical" private equity deal is simply untrue: Even back in 2005, the average loan-to-value percentage for new private equity deals was 68% — firms already contributed over 30% in equity to the deals not under 10% as claimed. 'Smart buyer, dumb seller'One of the important developments in private equity of the last decades has been the emergence of major private funds focused on technology investing.

MG Motor's hybrid eHS model is set to hit Mexico's streets on Friday, alongside two combustion-engine models, the company said. However, hybrid models could be a step forward until there is more EV investment, analysts have said. "For your day-to-day, you'll have the benefits of an electric vehicle," Daniel Nava, vice president of MG Motor in Mexico, told Reuters ahead of the announcement. Nava said the price in Mexico reflects that the model is a plug-in hybrid, which is more costly than other hybrid models, and is comparable to competitors' prices. Nava said MG Motor had been in touch with officials in Nuevo Leon as well as other states as it considered building a plant in the country.

☆ NHL roundup: Panthers stun Bruins to even series
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

Mandatory Credit: Winslow Townson-USA TODAY SportsApril 20 - Brandon Montour scored twice as a four-goal third period led the visiting Florida Panthers past the Boston Bruins 6-3 in Wednesday's Game 2 of their Eastern Conference opening-round playoff series. Montour is the first defenseman in Panthers history to record a multi-goal game in the postseason. Brad Marchand, Tyler Bertuzzi and Taylor Hall scored for Boston, which won the Presidents' Trophy with an NHL-record 135 points in the regular season. Stars 7, Wild 3Roope Hintz had three goals and an assist to help Dallas even its Western Conference first-round playoff series against visiting Minnesota in Game 2. He worked to the left circle and ripped a screened wrist shot just inside the far post for his first playoff goal.

☆ Nucor CEO explains the impact of federal infrastructure bills
▼ + stars: | 2023-04-20 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Nucor CEO explains the impact of federal infrastructure billsLeon Topalian, president, chair and CEO of Nucor, joins "Mad Money" to discuss the company's first quarter earnings and outlook for the business.

☆ Oh Canada, is this the year the Stanley Cup comes home?
▼ + stars: | 2023-04-15 | by ( Steve Keating | ) www.reuters.com time to read: +5 min

Not since the Montreal Canadiens beat the Los Angeles Kings in 1993 has the Stanley Cup been paraded through a Canadian city, an ego-deflating run of failure that has scarred a generation of fans. After winning the Stanley Cup in 1967, Maple Leafs defenceman Larry Hillman allegedly jinxed the team, saying they would not win it again until the club settled a contract dispute and paid him the $2,400 plus interest he believed he was owed. The Maple Leafs' big misfortune is playing in the same division as the Boston Bruins, who this season set NHL records for wins (65) and points (135), and the Tampa Bay Lightning, Stanley Cup finalists for the last three years. These two teams are once again hurdles that must be cleared on the way to a Stanley Cup. When the playoffs open on Monday, the Oilers will be the first of the Canadian teams to hit the ice, hosting the Los Angeles Kings in Game One of their best-of-seven series.

☆ Oil climbs on tightening supply; IEA demand outlook awaited
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +3 min

An oil pumpjack in the Inglewood Oil Field, seen from the Kenneth Hahn State Recreation Area, on July 13, 2022, in Los Angeles, California. Oil prices rose on Friday on signs of lower Russian output and tighter supplies, with the market looking ahead to the International Energy Agency's monthly report later in the day to clarify the global demand outlook. The possibility that the agency might downgrade the global demand outlook over faltering macroeconomic growth is helping to cap prices. "It looks like the rally in crude prices has finally hit a wall," OANDA analyst Edward Moya said in a note. Oil prices are expected to record an upward trend but the increments are expected to be capped at $90 a barrel, said CMC Markets analyst Leon Li.

☆ NHL roundup: Knights wrap up West's No. 1 seed
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +12 min

Reilly Smith, Alec Martinez and Chandler Stephenson scored for the Golden Knights (51-22-9, 111 points), who closed the regular season with an eight-game points streak (5-0-3). Liam O'Brien led the Coyotes with a pair of goals and Nick Schmaltz and added a goal and an assist. The Stars, who are looking to win a division title for the first time since the 2015-16 campaign, are atop the division. The Bruins set NHL records for most wins and most points in a single season. Tage Thompson scored his 47th goal of the season for Buffalo, which improved to 8-2-1 over its last 11 games.

☆ Takeaways from Biden's trip to Ireland
▼ + stars: | 2023-04-14 | by ( Kevin Liptak | ) edition.cnn.com time to read: +10 min

Biden’s trip came as he nears a decision on running again for president. “I own property in Ireland, I’m not going to Ireland,” former President Donald Trump said during Biden’s trip. Patrick Semansky/APDiplomatic legacy: ‘Keep the peace’White House officials made little attempt at ascribing major policy objectives to Biden’s trip. Kevin Lamarque/ReutersBiden makes Ireland visit a family affairMore than anything, Biden’s trip this week had the feeling of a family spring break. Throughout the sometimes-rainy trip, Biden kept his head dry with a baseball cap from the Beau Biden Foundation.

☆ Leon Levine, Who Made Small Box Retailing Pay, Dies at 85
▼ + stars: | 2023-04-12 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/leon-levine-who-made-small-box-retailing-pay-dies-at-85-2db70262

☆ See the memo detailing JPMorgan's new mandatory office policy for managing directors
▼ + stars: | 2023-04-12 | by ( Carter Johnson | ) www.businessinsider.com time to read: +8 min

JPMorgan Chase is abandoning a hybrid attendance policy it adopted during the pandemic and requiring executives to return to the office. On Wednesday, JPMorgan, the nation's largest bank by assets, said it will now mandate that all managing directors come to the office five days a week. In 2021, he wrote in his annual note to shareholders that he envisioned many JPMorgan employees returning to the office full-time, while allowing for exceptions. Tracking attendance is not only important to manage hybrid work schedules but also for real estate, resiliency and security purposes. In the meantime, you can find many useful tools and resources on the Hybrid Working page.

☆ These 6 beaten-down bank stocks are about to make a big comeback in the upcoming earnings season, according to the director of equity research at CFRA
▼ + stars: | 2023-04-12 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are six banks that should fare well in the Q1 earnings season despite the sector's challenges. A series of bank failures in early March sent shares of financial institutions plunging, and while bank stocks have stabilized in recent weeks, they haven't yet been able to mount a comeback. But when they kick off the Q1 earnings season in mid-April, banks can change the negative narrative — or reinforce existing concerns about the sector. "Banks may see higher revenue year-over-year and may surprise to the upside, beating consensus earnings estimates," Leon wrote. Below are the six bank stocks that CFRA expects to fare well in the first quarter earnings season, along with the ticker, market capitalization, and investment thesis for each.

☆ Leon Levine, Family Dollar founder, dies at 85
▼ + stars: | 2023-04-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Leon Levine, who built Family Dollar into a discount retail giant catering to America’s lower-income and middle-class shoppers, has died at 85. Three dollar store chains — Dollar General, Dollar Tree and Family Dollar — are now the fastest-growing US retailers. Levine opened the first Family Dollar store in 1959 at age 22 in Charlotte, North Carolina, with his cousin. “We’re just the opposite of a Wal-Mart,” Family Dollar president George Mahoney told the Associated Press in 1993. (Today, there are more than 8,000 Family Dollar stores.

☆ US stocks face a 50% crash, a 'crypto apocalypse' is coming, and the economy is entering a 'doom loop.' Here are the 10 wildest predictions over the past quarter.
▼ + stars: | 2023-04-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

From stocks to commercial real estate, several parts of financial markets are on shaky ground. Here are the 10 wildest predictions about asset prices and the economy over the past quarter. Grantham said the prices of stocks, bonds, real estate, fine art, and other investments surged to unsustainable highs during the COVID-19 pandemic. Crypto: an 'apocalypse' is coming for digital assets"Dr. Doom" economist Nouriel Roubini isn't hopeful about the crypto industry. "I think it will spread into commercial real estate as banks become more reluctant to lend," Cooperman said.

☆ Dietitians hate the term ‘superfood’ and wish you’d use this instead: 'One food is not going to be a cure-all'
▼ + stars: | 2023-04-09 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

But many dietitians wish the term would go away. "I don't really resonate with the 'superfoods' idea," says Felicia Porrazza, a registered dietitian nutritionist. "One food is not going to be a cure-all. Diana Ushay, registered dietitian at New York-Presbyterian Hospital and Erica Leon Nutrition, agrees. "Also, I don't think you can really call something a superfood if it's not accessible to everyone of all budgets."

☆ The coming commercial real estate crash that may never happen
▼ + stars: | 2023-04-09 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"There's a lot of headaches about calamity in commercial real estate," said Kevin Fagan, director of commercial real estate analysis at Moody's Analytics. But credit in commercial real estate has performed well until now, and it's far from clear that U.S. credit issues spreading outward from real estate is likely. Analysts raised concerns that developers might default on a big chunk of $3.1 trillion of U.S. commercial real estate loans Goldman Sachs says are outstanding. "We're well aware of the concentrations people have in commercial real estate," Powell said at a March22 press conference. But there are reasons to believe lending issues in commercial real estate will be contained, Fagan said.

UFC 287 live stream quick links US: ESPN+ ($80 plus $10/month membership)UK: BT Sport (£30/month)Main card start time: 10 p.m. How to watch UFC 287 in the USYou can watch the main event of UFC 287 on ESPN+ at 10 p.m. Ways to save on the UFC 287 pay-per-view priceIf you plan on signing up for ESPN+ to watch UFC 287, you can snag a special discounted bundle. How to watch UFC 287 in CanadaIn Canada, UFC 287 will be available to watch from multiple pay-per-view TV providers, including Bell, Rogers, Shaw, and Telus. Here's the fight card for UFC 287: Pereira vs. Adesanya 2ESPNEarly Prelims — 6 p.m.

☆ Two Cheers for Ukraine’s Oligarchs
▼ + stars: | 2023-04-06 | by ( Leon Aron | ) www.wsj.com time to read: 1 min

In late 1991, Russia and Ukraine began their post-Soviet journey from pretty much the same starting point in their political and economic development. Today, Russia under President Vladimir Putin is an autocracy verging on military dictatorship, while the Ukrainian political system, for all its flaws, has retained two important features of democracy: free competition among parties and the peaceful turnover of power. This difference, not any threat of NATO aggression, was the real reason why Mr. Putin launched his invasion of Ukraine in 2022. Had Ukraine been allowed to complete its fits-and-starts transition to a stable, prosperous and Western-oriented democracy, it would have become an imminent threat to Mr. Putin’s regime. Sooner or later, the Russian people would have started to ask why they couldn’t have what Ukraine had.

☆ Rapper Coolio died from fentanyl overdose, manager says
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Singer Coolio performs before a panel discussion on his new Oxygen Network reality series "Coolio's Rules" at the NBC Universal summer 2008 press tour in Beverly Hills, California July 20, 2008. REUTERS/Fred Prouser/File PhotoLOS ANGELES, April 6 (Reuters) - Grammy-winning rapper Coolio died from a fentanyl overdose, his manager said on Thursday, six months after the musician was found dead at a friend's home in Los Angeles at age 59. Born Artis Leon Ivey Jr., Coolio was best known for his 1995 single "Gangsta's Paradise," from an album of the same name. Coolio's manager, Jarez Posey, said the rapper's family had been informed on Thursday by the Los Angeles County Coroner's Office that the singer had died from a fentanyl overdose. Born in Pennsylvania in 1963, Coolio began performing as part of the West Coast hip-hop scene after moving to Compton, California.

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