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☆ My skincare business made $740,000 in revenue in 16 months. Here's how we used TikTok and Instagram to do it.
▼ + stars: | 2023-03-17 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

They used TikTok and Instagram to promote their product — and didn't pay for any advertising. She invested 5,000 Australian dollars in savings, around $3,363, in the business and became my business partner. We used TikTok and Instagram to build a following before our launch dateWe started posting videos on TikTok and Instagram in July 2021 to hype our launch date. She posted videos every day with her skincare routine, showing how she used our product. Often when someone bought our product, they'd post about it on TikTok or Instagram and tag us in their posts.

☆ What caused the global banking crisis this week and will it lead to a recession?
▼ + stars: | 2023-03-17 | by ( Mark Thompson | ) edition.cnn.com time to read: +7 min

Silicon Valley Bank’s customers were frantically pulling their money from the California-based lender before US regulators intervened to take control. Thursday, March 16 — First Republic Bank was teetering on the brink as customers withdrew their deposits. In guaranteeing all deposits at Silicon Valley Bank and Republic Bank, the US Federal Reserve is on the hook for $140 billion. Then there’s the $54 billion the Swiss National Bank offered Credit Suisse in the form of an emergency loan. The $318 billion the Fed has loaned in total to the financial system is about half what was extended during the global financial crisis.

☆ Exclusive: Carta's fired CTO accuses CEO Henry Ward of deceiving regulators, abusing employees, and misappropriating funds
▼ + stars: | 2023-03-16 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +5 min

In a new legal filing Carta's former CTO accuses the company's CEO of a litany of misdeeds. New details have emerged in the ongoing lawsuit between $7 billion startup Carta and its former CTO Jerry Talton. Four days after submitting that letter, Talton was placed on administrative leave. On December 23, 2022, two months after sending his letter, Talton was fired and stripped of $10 million of unexercised stock options, according to Wednesday's filing. The legal filing claims that the company "invaded Talton's privacy and inserted these salacious elements in the complaint simply to malign him."

☆ New Zealand's Fonterra profit jumps 50% on stronger dairy prices
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 16 (Reuters) - New Zealand's Fonterra Co-operative Group Ltd (FCG.NZ) on Thursday said first-half profit jumped 50% due to higher prices for its dairy products and strong margins across its cheese and protein division. The co-operative, which controls almost a third of global dairy trade, also said it expects to earn between 55 and 75 NZ cents per share for fiscal 2023, from an earlier forecast of 50 to 70 NZ cents per share. Favourable margins in the dairy co-operative's protein portfolio during the half year offset lockdown-driven weakness in demand from China. The world's biggest dairy exporter reported normalised net profit after tax of NZ$546 million ($338.19 million) for the six months ended Dec. 31, compared with NZ$364 million a year earlier. Fonterra declared an interim dividend of 10 NZ cents per share, compared with 5 NZ cents per share declared last year.

ZURICH/FRANKFURT, March 15 (Reuters) - Swiss financial regulator FINMA and the nation's central bank said on Wednesday that the Swiss National Bank would provide Credit Suisse (CSGN.S) liquidity "if necessary", a first for a global bank since the financial crisis. The two institutions said in a joint statement that Credit Suisse "meets the capital and liquidity requirements imposed on systemically important banks". Governments and at least one bank were putting pressure on Switzerland to act, said people familiar with the matter. Shares in Credit Suisse, which is battling to recover from a string of scandals that have undermined the confidence of investors and clients, lost nearly a quarter of their value on Wednesday. The stock, which was worth around 80 Swiss francs in 2008 plunged to 1.55 Swiss francs on Wednesday.

☆ Morning Bid: Deep breaths as banks calm, but only a bit
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +5 min

The Federal Reserve is considering tougher rules and oversight for midsize banks similar in size to Silicon Valley Bank, which collapsed suddenly last week. Strengthened rules on banks in the $100 billion to $250 billion range could ape those for larger more systemic banks and involve stringent capital and liquidity requirements or beefed up annual "stress tests". Even though reports abounded of depositor flight from the smaller weaker banks to the larger financial firms, stock prices in the sector at large caught a breath. The VIX equity volatility gauge (.VIX) hugged Tuesday's close at 23. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Investors in Asia have a fairly packed data calendar themselves to get through on Wednesday, with the latest snapshots of Chinese retail sales, industrial production and fixed business investment the pick of the bunch. chartchartEconomists expect retail sales and industrial production to recover strongly, pointing to the economic recovery from COVID-19 lockdown gathering momentum. Yet growth in fixed business investment, a key plank of any recovery, is expected to slow from January. Note, however, that the retail sales and industrial production figures are for January and February, so they may be distorted. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ A UBS equity strategist shares 3 sectors to buy for protection as stocks sink further in 2023 — and explains why investors not buying overseas assets are missing out on future market leaders
▼ + stars: | 2023-03-14 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

UBS's Nadia Lovell believes that the stock market could dip below its 2022 lows this year. Lovell also said that investors who don't own ex-US assets could be missing out on big future gains. Lovell also believes that current investor consensus is too optimistic about the looming earnings contraction, and that market valuations remain lofty. For instance, she currently has an overweight towards consumer staples, a traditionally defensive sector that can hedge portfolios against economic slowdown. Despite its huge run-up over the past year, Lovell believes that demand for the sector still has room to grow.

☆ Studio A24 captures Oscar spotlight with big wins for best picture, acting
▼ + stars: | 2023-03-13 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +7 min

LOS ANGELES, March 13 (Reuters) - Independent studio A24 was the big winner at Sunday's Academy Awards, taking nine awards out of its 18 nominations, including best picture and all four acting prizes. The studio's "Everything Everywhere All at Once" won seven Oscars, the most of the evening, including best picture. However, Brendan Fraser took the best actor prize for A24's "The Whale," which also won for best makeup and hairstyling. Not since the heyday of Miramax in the 1990s has an independent studio garnered such attention, talent and box office success, entertainment industry insiders say. EVERYTHING EVERYWHEREThe first film A24 produced and financed, together with Brad Pitt’s Plan B Entertainment, was “Moonlight,” which won the Oscar for best picture in 2017.

☆ Grubhub is losing its second CEO in less than 2 years as owner explores sale of company
▼ + stars: | 2023-03-13 | by ( Nancy Luna | ) www.businessinsider.com time to read: +2 min

A year after Just Eat Takeaway.com bought Grubhub, the European firm said it wanted to sell it. Grubhub is in great hands with Howard and the Grubhub leadership team, and I'm excited to watch the company continue to thrive." Over the years, Grubhub has struggled to find its footing in the hyper-competitive food delivery sector. 1 food delivery operator. In January 2018, Grubhub had 49% of the food delivery market, according to Bloomberg Second Measure.

☆ This high-school teacher mocks rich people who pay hundreds of dollars for designer dog collars and now has 1.5 million TikTok followers
▼ + stars: | 2023-03-12 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Shabaz Ali is a chemistry teacher who's gained 1.5 million TikTok followers by mocking the rich. His audience knows him as "the CEO of 'I'm rich, you're poor,'" – a series of videos in which Ali satirizes the luxurious lifestyles some people share online. "We don't want to sit there being bombarded with images of beautiful people doing beautiful things with their beautiful money." He has no plans to become an influencer himself and won't be quitting his teaching job any time soon. Despite getting 177 million views on TikTok in December, he says he earned just £28 ($33.)

☆ On the Covid-19 Lockdown’s Third Anniversary, Biden Has Moved On
▼ + stars: | 2023-03-11 | by ( Stephanie Armour | Sabrina Siddiqui | ) www.wsj.com time to read: 1 min

WASHINGTON—President Biden marked the first anniversary of the Covid-19 lockdowns two years ago with a high-profile speech, and his administration gave frequent briefings on the topic. Last year, he gave an address on the American Rescue Plan and the country’s economic recovery from the pandemic. On Saturday, the third anniversary of the shutdowns that were triggered by the pandemic, Mr. Biden has no public events planned and his White House has largely shifted focus away from a virus that continues to kill about 2,000 people a week but ranks low among priorities for the American public.

☆ Wearable Clothes at Last? The Top Trends From the Fall 2023 Fashion Shows
▼ + stars: | 2023-03-11 | by ( Katharine K. Zarrella | Lizzy Wholley | ) www.wsj.com time to read: +1 min

LOW-KEY LUXURY At the fall fashion shows, many designers proposed quiet, classic clothes rife with sophistication. From left: fall looks from Fendi, the Row and Loro Piana. This season put an end to that. Perhaps inspired by political and economic uncertainty, or maybe by the fact that women exist in the tangible world again, not just behind filtered screens, brands including Saint Laurent, the Row, Bottega Veneta and Fendi turned out exquisitely wearable, sometimes understated clothes. The shift in tone resonated with guests, some of whom are cautiously optimistic it might last beyond this crucial season for the brand.

[1/4] China's newly-elected Premier Li Qiang takes an oath after being elected during the fourth plenary session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China on March 11, 2023. Previously the Communist Party chief in Shanghai, Li was confirmed as premier during the National People's Congress, charged with managing the world's second largest economy. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

☆ ‘Everything Everywhere All at Once’ studio A24 captures Oscar spotlight
▼ + stars: | 2023-03-10 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +6 min

LOS ANGELES, March 10 (Reuters) - A24, the independent studio behind such films as “Everything Everywhere All at Once” and "The Whale," is poised to dominate this year’s Academy Awards, eclipsing Hollywood’s established studios and awards-hungry streamers that are spending millions on Oscar campaigns. Not since the heyday of Miramax in the 1990s has an independent studio garnered such attention, talent and box office success, entertainment industry insiders say. EVERYTHING EVERYWHEREThe first film A24 produced and financed, together with Brad Pitt’s Plan B Entertainment, was “Moonlight,” which won the Oscar for best picture in 2017. The studio has garnered 53 Oscar nominations in less than a decade, including best picture nods for “Lady Bird, “Minari” and “Room.”A24's film slate has grown at the pace of its cash flow - starting with three movies in 2016 to 15 in 2022. This year, it’s on track to produce about 15 films for theatrical release, eight documentaries and 10 television shows.

☆ A 50% rent increase? Record property demand in Dubai is creating a nightmare for some residents
▼ + stars: | 2023-03-10 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

Beyond the property market, Dubai's economic boom is evident in everyday life. The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Property prices have, too — CBRE says that selling prices are up 11.5% on average in the year to February 2023. Christopher Pike | Bloomberg | Getty ImagesAccording to CBRE's research, in the year through February 2023, average Dubai rents increased by 27.7%. In the meantime, no one expects property prices to ease up anytime soon.

☆ China's JD.com reports higher fourth-quarter adjusted profit
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

March 9 (Reuters) - Chinese e-commerce firm JD.com Inc (9618.HK), reported a higher quarterly adjusted profit on Thursday as China lifted strict pandemic-related curbs late last year. JD.com's net income attributable to ordinary shareholders in the fourth quarter was 3 billion yuan ($430.92 million), compared with a net loss of 5.2 billion yuan a year earlier. Revenue rose 7.1% to 295.4 billion yuan in the three months ended December, missing analysts' estimates of 296.17 billion yuan, according to Refinitiv data. Parts of China remained under strict lockdown for most of the December quarter, with shoppers holding back on spending amid continued economic uncertainty. On an adjusted basis, the Beijing-based company earned 4.81 yuan per American depositary share in the reported quarter, compared with 2.21 yuan per share a year earlier.

☆ 6 companies that struck it big on China's zero-COVID policies and came out on top after 3 years of lockdowns
▼ + stars: | 2023-03-09 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

As China kept to its chaotic zero-COVID push, a few companies reaped the rewards of a country prone to lockdowns. Kevin Frayer/Getty ImagesChina's economy suffered under zero-COVID, growing by just 3% in 2022 — one of the country's lowest levels ever. As China's economy reopens after a rollback of the zero-COVID policy on December 7, local media and social bloggers are heaping attention on how much was spent on the lockdowns, and who benefited from the expenditures. However, a select pool of firms and industries gained massive rewards from the years of lockdowns and constant testing. Here are six companies and sectors that came out on top during China's zero-COVID policy.

☆ Inside the germy, sneeze-filled meeting between Morgan Stanley's CEO and the Saudi crown prince at the onset of COVID-19
▼ + stars: | 2023-03-08 | by ( Liz Hoffman | ) www.businessinsider.com time to read: +8 min

James Gorman, CEO of Morgan Stanley, met with the Saudi crown prince at the onset of the pandemic. The young royal kept sneezing during the meeting — and Gorman's fear of a deadly pathogen began to grow. He was in the royal palace in Riyadh, Saudi Arabia, seated to the right of the country's crown prince, Mohammed bin Salman. Given their recent experience with a deadly virus, Gorman took the caution of his Kuwaiti hosts as a sign that the West was underestimating the dangers of this one. And now, as Gorman chatted with the controversial 34-year-old crown prince about ways Saudi Arabia could diversify its economy and reduce its reliance on oil, the young royal kept sneezing.

☆ 'You ain't seen nothing yet:' Florida Gov. Ron DeSantis touts state record and fuels 2024 speculation
▼ + stars: | 2023-03-07 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

Florida Governor Ron DeSantis answers questions from the media in the Florida Cabinet following his "State of the State" address during a joint session of the Florida Senate and House of Representatives at the Florida State Capitol in Tallahassee, Florida, on March 7, 2023. Republicans gained supermajorities in both chambers of the Florida state legislature following the November midterms, when Democrats woefully underperformed in the Sunshine State. We rank number one in the nation for parental involvement in education," DeSantis said in the speech. DeSantis' framed Florida as a "blueprint" for America, suggesting that his state-level actions pose a recipe for national success. If he runs for president, DeSantis will join an expanding primary field that already includes Trump, former South Carolina Gov.

Previously the Communist Party chief in Shanghai, Li is poised to be confirmed as premier on Saturday during the ongoing National People's Congress, charged with managing the world's second largest economy. Trey McArver, co-founder of consultancy Trivium China, said Li is likely to be much more powerful than his predecessor. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

☆ China gives itself easy GDP homework
▼ + stars: | 2023-03-06 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, March 6 (Reuters Breakingviews) - China aims to grow GDP by “around 5%” in 2023, which might seem low given last year’s 3% marked the country’s weakest performance in decades. Chen Long of Plenum China notes that the annual work report, usually an important window into the economy and official priorities for the year ahead, dedicates only six pages to discussing the future, compared to 22 pages last year. That may be because Premier Li Keqiang, who gives the work report, is on his way out along with other reformers. By keeping goals conservative and methods vaguer than usual, the government makes it harder for newcomers to fail. The government is aiming for a 2023 budget deficit target of 3% of gross domestic product, according to the report, widening from a deficit goal of around 2.8% last year.

☆ Police, protesters clash at site of Atlanta police center; 35 arrested
▼ + stars: | 2023-03-06 | by ( Daniel Trotta | ) www.reuters.com time to read: +3 min

March 5 (Reuters) - Fires broke out at the construction site of an Atlanta police training center on Sunday after a demonstration at the property led to clashes between police and protesters and 35 people were arrested, police said. Opponents of the site say they want to save an important green space near the greater Atlanta metropolitan area of 6 million people. "We call on all people of good conscience to stand in solidarity with the movement to stop Cop City and defend the Weelaunee Forest," reads a statement on a website called Defend The Atlanta Forest. With more events planned in coming days, Atlanta police said they and other law-enforcement agencies had "multi-layered strategy that includes reaction and arrest." Demonstrators at that time gathered to protest against the killing by law enforcement of an activist during a raid to clear the construction site.

☆ The Bomber Jacket Is Now Sleek, Sophisticated and…Almost Formal?
▼ + stars: | 2023-03-04 | by ( Todd Plummer | ) www.wsj.com time to read: +1 min

SUEDE AND SWEATS Former soccer star David Beckham’s handsome jacket elevates a sporty look in October. FOR A RECENT dressy work dinner with his company’s leadership team in Wayne, N.J., Cameron Birch took a style detour. Instead of defaulting to a tie and sport coat like his colleagues, the medical-device strategist, 34, reached for his emerald-green Club Monaco bomber jacket. This bomber aligns with his post-lockdown mood: These days he hankers for clothes that are “simple, clean, versatile and as comfortable as athleisure—but more dressed up.”A dressy bomber? Though this style of aviator jacket has typically skewed casual and utilitarian, it has lately been reborn as a sophisticate.

☆ 'Everything Everywhere All at Once' editor never thought he'd get an Oscar nomination: 'That's not how I saw my career going'
▼ + stars: | 2023-03-04 | by ( Nicolas Vega | ) www.cnbc.com time to read: +6 min

"That's not how I saw my career going," Rogers tells CNBC Make It. Paul Rogers poses with the Editing Award for 'Everything Everywhere All At Once' during the 2023 EE BAFTA Film Awards. That's where he realized he had a passion for film editing – the process of putting a film's footage together into a finished product. "We never in our wildest dreams thought it was an Oscars type of film," Rogers says. " Everything from the production design to the performances to the camera work to the editing, and that's no accident.

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