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☆ Trump’s New York properties may be on the chopping block soon
▼ + stars: | 2024-03-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Former President Donald Trump doesn’t have the cash he needs to stop the state of New York from potentially seizing his assets. In a court filing Monday, Trump’s lawyers laid out the stark economic reality facing the leading Republican candidate for president. Trump’s lawyers, for their part, say the ruling is unprecedented and underwriters don’t write checks that big — even to billionaires. What could happen to Trump’s properties? James has made it clear she won’t hesitate to go after Trump’s properties if he doesn’t come up with the cash.

Persons: CNN Business ’, Donald Trump doesn’t, Arthur Engoron, Trump, Letitia James, underwriters don’t, James, “, ”, Temidayo Aganga, Williams, Selendy Gay, Judge Engoron, Jean Carroll, Banks, ” Aganga, they’re, who’d, Mitchell Epner, Rottenberg Lipman Rich, underwriters Trump, Engoron, ” Epner, Tish James Organizations: CNN Business, New York CNN, Republican, Trump, New York, underwriters, ABC, ABC News, Financial, Trump Organization, “, Forbes Locations: New York, York

☆ Manhattan condo owner sues a NY Burger King for $15 mil, accusing the franchise of allowing an 'open air drug bazaar'
▼ + stars: | 2024-03-19 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Read previewThis New Yorker has multimillion dollar beef with Burger King. A Burger King spokesperson told Business Insider that they are addressing the situation. Business Insider could not immediately reach the owner of the Burger King franchise for comment. A condo owner in downtown Manhattan accuses a nearby Burger King franchise of allowing an "open air drug bazaar" in the neighborhood. That figure includes the entire building that the Burger King is located in, as well as in front and in back of the location.

Persons: —, Kevin Kaufman, Burger King, Kaufman, Burger, Lalmir Sultanzada, he's, Sultanzada, William Street Organizations: Service, Yorker, Burger King, Burger King . New York City, Manhattan Burger, Fulton, Manhattan's Financial, Business, New York Post, — Burger King Holdings Inc, Fulton Street Coalition, Burger, New York Police, NYPD Locations: Burger, Burger King . New York, New York, Manhattan's, Manhattan, New York County, Fulton, Nassau Street

☆ Recession-hit Britain swings to economic growth in January, helped by construction bounce
▼ + stars: | 2024-03-13 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

People walk along Waterloo Bridge past the City of London skyline, the capital's financial district, on a sunny and mild day. LONDON — U.K. gross domestic product grew 0.2% in January, the Office for National Statistics said Wednesday, as construction output jumped unexpectedly. It follows a 0.1% contraction in December, while the U.K. economy entered a shallow recession in the second half of last year. Construction output was 1.1% higher in January, the ONS said, but fell 0.9% over a three-month period. Services recorded 0.2% growth in January, providing the biggest contribution to growth, as production output fell 0.2%.

Organizations: LONDON, National Statistics, Reuters, Services Locations: London, U.K

☆ Out of options, Trump will pay $500M cash bond to appeal his NY fraud case, experts predict. Not paying will hurt even more.
▼ + stars: | 2024-03-09 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Trump must stow $500M cash in a bank to cover the appeal bond for his NY fraud case, experts say. His next appeal bond will cost him far more. By posting another appeal bond. Similar to the more familiar jail bond, an appeal bond is a promise of payment that's backed by collateral, meaning cash or property. The premium on a half-billion-dollar appeal bond could run anywhere from $250,000 to north of one million dollars, just to purchase the bond, experts guestimated.

Persons: Trump, —, Donald Trump, Jean Carroll, Letitia James —, Sheriff, Eric Snyder, Snyder, Arthur Engoron, Wilk Auslander, He's, Julie Alleyne, Carroll, Chubb, Evan G, Greenberg, Neil Pedersen, Pedersen, Alleyne, Cash, Jeff Bezos, Elon Musk, Christopher Kise, — Chubb, Letitia James, James, Roy Rochlin, Justin Sullivan Organizations: stow, Service, Trump, New York, New, NRA, Fox, Wilk, Fidelity Association of America, Federal Insurance Company, Chubb Group, Sons, Forbes, Bloomberg, ABC, Midtown, Financial, Getty Locations: NY, Manhattan, New York, New York City, Americas, Midtown Manhattan, New Yorkers

☆ British Airways is spending $9 billion to help make it the world's favorite airline once again after years of slumping popularity
▼ + stars: | 2024-03-05 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +4 min

Read previewBritish Airways unveiled a host of new initiatives at a media event in London on Monday, as part of a $9 billion "transformation." The UK flag carrier was named the world's best airline by Skytrax in 2006, but its reputation has since faltered. With a new seat design, new routes, and upgrades to the Airbus A380, here's how BA is changing. British Airways is rolling out the new seat design to its Airbus A320neo and A321neo jets, used on its short-haul flights. The business-class configuration on BA's new short-haul seats.

Persons: —, Sean Doyle, Pete Syme, it's, There's, that's, Neil Chernoff, Francisco —, Chernoff Organizations: Service, British Airways, Skytrax, Business, Airbus, Delta Air Lines, Boeing, Washington Dulles, Dubai Airport, Beta Locations: London, Dallas , Los Angeles, Miami, Dubai, Johannesburg, South Africa, Boston, Washington, Singapore, London Heathrow, Malaysian, Kuala Lumpur, London Gatwick, Bangkok

☆ Short positions in China stocks shrink after regulatory crackdown
▼ + stars: | 2024-03-03 | by ( ) www.cnbc.com time to read: +1 min

Signage for the Shanghai Stock Exchange in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. Short positions in China's stock market shrank by a third in February to their lowest in more than three years, reflecting measures by regulators to curb speculation and boost investor confidence. The data, however, does not capture other short positions via derivatives or stock futures. As part of a raft of measures to revive the market, China's securities watchdog last month suspended brokerages from borrowing shares for lending to short-sellers. In addition, investors were banned from short selling stocks bought on the same day.

Persons: CSI300 Organizations: Shanghai Stock Exchange, China Securities Finance Corp Locations: Lujiazui, Shanghai, China

☆ The Absurd Problem of New York City Trash
▼ + stars: | 2024-03-02 | by ( Emily Badger | Larry Buchanan | ) www.nytimes.com time to read: +30 min

In New York City, trash has no dedicated space all its own. The Absurd Problem of New York City Trash And the Trade-Offs Required to Fix ItConsider the ubiquitous New York trash bag. The prospect has prompted much snickering: New York’s big idea to clean up trash is to … put it in trash bins? New York City Municipal Archives1913: A century in the past, but the same problems as today. New York City Municipal ArchivesBut those cans overflowed to horrifying effect during the 10-day strike:When New York streets resembled landfills.

Persons: …, that’s, ” Anthony Crispino, “, ” Cole Stallard, Stallard, Gerard Koeppel, Oscar, Neal Boenzi, New York Times Garbage, Larry C, Morris, Meyer Liebowitz, Rudy Giuliani, ‘, ”, Norman Steisel, Eric Adams, Jessica Tisch, Tisch, Hiroko Masuike, Ms, there’s, It’s, ” Harry Nespoli, workarounds, Martin Melosi, Clare Miflin, Miflin, don’t, Benjamin Miller, Martin Robertson, ” Mr, Robertson Organizations: Sanitation Department, New York City Municipal, New York Times, York’s Sanitation Department, Department, York City Municipal, District of Columbia Department of Public, New York, New York Public, The New York Times, City Hall, Avenue, West 22nd, West, Eighth, 21st, West 21st, Bronx Manhattan Queens, Financial, Center, Zero Locations: New York City, stairwells, York, New York, York City, Amsterdam, Barcelona, Berlin, Washington, Houston, what’s, Chelsea, Erie, Manhattan, ”, New Yorkers, Staten Island, New, East, Bronx, Bronx Manhattan Queens Brooklyn Staten Island, European, Harlem, New York . New York, Relatedly, Brooklyn

☆ Against All Odds, New York’s Artist Buildings Have Survived
▼ + stars: | 2024-02-26 | by ( M.H. Miller | Miranda Barnes | ) www.nytimes.com time to read: +4 min

The expansion of government-subsidized housing loans meant that cheap space was also easy to come by, as New York had a then-ample stock of residential and industrial buildings. But the city has always romanticized artist-dominated buildings, the kinds of communal spaces in which every unit might be home to an artist’s studio (and sometimes, unofficially, their residences, too). In an almost unheard-of feat of perseverance, the same artist, Don Dudley, 93, has been working out of this loft since 1971. So artists have had to create a kind of whisper network to withstand New York’s unimpeachable forward march, which the art market has, ironically, enabled. Most of them are temporary fixes before an artist — who’s grown out, or been priced out, of their space — has to move on.

Persons: Bill, Don Dudley, What’s, it’s, — who’s Organizations: Veterans, Pop Art, Brooklyn Army, Financial, Artists Locations: Europe, Paris, New York, York, Sunset, Williamsburg , Brooklyn, Ridgewood , Queens, TriBeCa, ”, Manhattan, Brooklyn, Queens

☆ The BT Tower, London’s futuristic landmark, to become hotel
▼ + stars: | 2024-02-21 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +4 min

London CNN —Tourists who fancy getting a top-down view of London may soon be able to book themselves a room in the city’s famous BT Tower. Situated in Fitzrovia, central London, it was officially opened by the then-prime minister, Harold Wilson, the following year. An aerial view of the BT Tower Tim Motion/Construction Photography/Avalon/Getty ImagesOriginally known as the Post Office Tower, the building was designed to relay microwave signals carrying telecommunications from London around the country. It remained London’s tallest building until 1980, when it was overtaken by the NatWest Tower in the financial district. It’s been a privilege to adapt the TWA Flight Center into new use for future generations, as it will be the BT Tower.”

Persons: Harold Wilson, Tim, Brent Mathews, “ It’s, Eero Saarinen’s, John F, Kennedy, Muhammad Ali, Tyler Morse, Morse, It’s Organizations: London CNN — Tourists, BT, “, BT Group, British, Post, NatWest, MCR, TWA, Big Apple, Art Deco New Yorker, TWA Flight, Center Locations: London, Westminster, Fitzrovia, England, New, JFK

☆ In this fast-paced bull market, we're increasing our Club price targets on 4 stocks
▼ + stars: | 2024-02-15 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Following last week's $120-per-share price target hike to $750 on strong earnings, we're raising our PT again Thursday to $850. Even at our new $850 price target, Lilly shares still represent a lower PEG than we've seen historically but that provides some margin of safety. Costco price target hike to $770 from $680 Costco also trades at a premium valuation, but we think it's warranted due to the company's reliability and consistency. Salesforce price target hike to $320 from $275 Salesforce is a Club name we recently highlighted in our 10 undervalued stocks commentary . Palo Alto Networks price target change pending Lastly, we are aware that our price target on Palo Alto Networks requires an update as well.

Persons: It's, Eli Lilly, Lilly, Salesforce, –, There's, Jim Cramer's, Jim Cramer, Jim, Robert Nickelsberg Organizations: Wall, PT, Novo Nordisk, Costco, Microsoft, Broadcom, UBS, VMware, JPMorgan, Palo Alto, Palo Alto Networks, Palo, CNBC, Getty Locations: GLP, AVGO, Palo Alto, Palo, New York City

☆ Chinese firm behind ‘news’ websites pushes pro-Beijing content globally, researchers find
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +3 min

Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. More than 100 websites disguised as local news outlets in Europe, Asia and Latin America are pushing pro-China content in a widespread influence campaign linked to a Beijing public relations firm, digital watchdog Citizen Lab has found. Spread over websites in 30 countries, the propaganda material is interspersed with news aggregated from local news outlets and Chinese state media, according to a research report the Toronto-based group released on Wednesday. Citizen Lab said the campaign began in mid-2020 and traced the network to public relations firm Shenzhen Haimaiyunxiang Media Co., Ltd., also known as Haimai. But a "press releases" button at a corner of its homepage leads to a range of Chinese state media articles on topics such as China's contribution to the global economic recovery and its push towards technological innovation.

Persons: Alberto Fittarelli, Citizen Lab, Mandiant Organizations: Citizen, Shenzhen Haimaiyunxiang Media, Roma, Times Locations: Lujiazui, Shanghai, China, Toronto, Europe, Asia, America, Beijing, United States, Shenzhen, Washington, Italian

☆ European markets head for lower open with euro zone inflation data, Bank of England decision in focus
▼ + stars: | 2024-02-01 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Buses pass in the City of London financial district outside the Royal Exchange near the Bank of England on 2nd July 2021 in London, United Kingdom. European stocks are heading for a lower open ahead of euro zone inflation data for January and the Bank of England's latest monetary policy decision on Thursday. Investors will be keeping an eye on the latest monetary policy decision from the Bank of England on Thursday. The central bank is widely expected to hold interest rates steady at 5.25%, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts.

Organizations: Royal Exchange, Bank of England, Bank of Locations: City, London, United Kingdom

☆ Bank of England could be about to open the door to interest rate cuts
▼ + stars: | 2024-01-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. Henry Nicholls | ReutersLONDON — The Bank of England is widely expected to hold interest rates steady at 5.25% on Thursday, but market observers will be closely watching voting patterns, projections and language for hints about future rate cuts. The labor market has shown signs of rebalancing, although the overall trajectory remains somewhat uncertain, while wage growth and services inflation have surprised the Bank's November projections substantially to the downside, Goldman Sachs economists noted on Sunday. "We expect the MPC to retain its data-dependent approach and reiterate that monetary policy 'will need to be sufficiently restrictive for sufficiently long'," Quadri said. Goldman sees a first 25 basis point cut in May, followed by further quarter-point increments at every meeting until the Bank rate reaches 3% in May 2025.watch now

Persons: Henry Nicholls, Goldman Sachs, Ibrahim Quadri, Swati, Catherine, Mann, Quadri, Goldman Organizations: Bank of England, Reuters LONDON, Monetary, MPC, Goldman Locations: City, London, Britain, British, U.K

☆ Amazon Prime’s ‘Expats’ was set and filmed in Hong Kong. But it’s not being shown there
▼ + stars: | 2024-01-30 | by ( Issy Ronald | ) edition.cnn.com time to read: +4 min

CNN —Amazon Prime’s new drama series “Expats,” starring Nicole Kidman, is currently unavailable to watch in Hong Kong despite being set and partly filmed in the city. That year, Hong Kong also granted Oscar-winner Kidman an exemption from its tough Covid-19 quarantine rules to film in the city. Four members of her crew were also granted relief from the restrictions, Hong Kong officials said at the time. CNN has also reached out to the Hong Kong Commerce and Economic Development Bureau for comment. “It was very important to me to be able to show this particular moment in this year in Hong Kong very accurately,” she said.

Persons: ”, Nicole Kidman, Margaret, Hong Kong, Oscar, Kidman, Hong, “, ” Yaqiu Wang, ” Bonde Sham, Ji, Yoo, Wang, ’, Lulu Wang, “ It’s Organizations: CNN, Amazon, Umbrella Movement, Hong, The Hong, Hollywood, Freedom House, Hong Kong Commerce, Economic, Reuters, Kong’s, Film, Association, BBC Radio Locations: Hong Kong, Beijing, The, The Hong Kong, Hong, China, Taiwan, Los Angeles

☆ IMF upgrades global growth forecast, citing U.S. resilience and policy support in China
▼ + stars: | 2024-01-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Buildings in Pudong's Lujiazui Financial District in Shanghai, China, on Monday, Jan. 29, 2024. The International Monetary Fund on Tuesday nudged its global growth forecast higher, citing the unexpected strength of the U.S. economy and fiscal support measures in China. It now sees global growth in 2024 at 3.1%, up 0.2 percentage points from its prior October projection, followed by 3.2% expansion in 2025. It forecasts growth this year of 2.1% in the U.S., 0.9% in both the euro zone and Japan, and 0.6% in the United Kingdom. "What we've seen is a very resilient global economy in the second half of last year, and that's going to carry over into 2024," the IMF's chief economist, Pierre-Olivier Gourinchas, told CNBC's Karen Tso on Tuesday.

Persons: Pierre, Olivier Gourinchas, Karen Tso Organizations: Monetary Fund, IMF Locations: Lujiazui, Shanghai, China, U.S, Brazil, India, Russia, Japan, United Kingdom

☆ Fed's favorite inflation gauge rose 0.2% in December and was up 2.9% from a year ago
▼ + stars: | 2024-01-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

An important inflation gauge released Friday showed that the rate of price increases cooled as 2023 came to a close. On a monthly basis, core inflation increased from 0.1% in November. Including volatile food and energy costs, headline inflation also rose 0.2% for the month and held steady at 2.6% annually. The central bank targets 2% as a healthy annual inflation rate. Within the inflation numbers, prices for goods declined by 0.2% while services prices rose by 0.3%, reversing a trend when inflation began to spike.

Persons: Dow Jones Organizations: Financial, New York Stock Exchange, Federal Reserve Locations: New York City

☆ This startup is opening a mental health clinic that offers ketamine therapy. We got an exclusive look at the pitch deck it used to raise $5.4 million.
▼ + stars: | 2024-01-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Read previewVenture investment in mental health startups exploded in 2021. Being Health, an integrated mental healthcare company, is opening its first location, located in Manhattan's Financial District. Services like ketamine infusions and acupuncture will have to be administered in person, but others, like nutrition counseling, will have a virtual option, Sharma said. "When it comes to this novel approach to addressing mental health, you can't do that with telehealth." See the 17-slide pitch deck mental health startup Being Health used to raise $5.4 million in seed funding.

Persons: —, Allie Sharma's, Sharma, Janssen, Haim Dabah, Dabah Organizations: Service, Business, Financial, HDS, FDA, Janssen Pharmaceuticals, Being Health, Services, HDS Capital Locations: New York, New York City

☆ As the S&P 500 enters bull market territory, here's what to consider before you invest
▼ + stars: | 2024-01-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Spencer Platt | Getty ImagesThe S&P 500 stock index climbed to a new all-time high on Monday. Last year, the S&P 500 rose more than 20% from its most recent low. What is the S&P 500 index? watch nowHow can you invest in the S&P 500? The greater a portfolio's exposure to the S&P 500 index, the more the ups and downs of that index will affect its balance.

Persons: Spencer Platt, — Organizations: New York Stock Exchange, Getty Locations: New York City

☆ The S&P 500 set a new record high. How our current Club stocks have fared since the last one
▼ + stars: | 2024-01-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

The Dow Jones Industrial Average set its first record close since January 2022 in December and ended Friday's session at a record high above 37,800. The Nasdaq, on the other hand, ended Friday at 15,310.97 — meaning it needs to rally about 5% more to take out its Nov. 19, 2021 record high. It is worth noting that the Nasdaq 100 , which is weighed more heavily in Big Tech, did close at another record high Friday. Quite a bit has happened on Wall Street since the S & P 500's old high in January 2022. Take a look below to see how 31 of our 32 current Club stocks have fared between the S & P 500's record closes.

Persons: Eli Lilly, Jim Cramer, tirzepatide, Tirzepatide, Lilly, —, Eaton, we've, it's, Jim Cramer's, Jim, Spencer Platt Organizations: Nvidia, Palo Alto Networks, Palo, Dow Jones, Nasdaq, Big Tech, Federal Reserve, GE Healthcare, Abbott Labs, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Palo, Palo Alto, Covid, New York City

"When you see the news of a Wall Street employee or any highly paid professional dying this way, it obviously wakes you up." Wall Street is all about relationships, which often means spending big money to show people a good time. "That's been the Wall Street playbook for many, many years, and I don't think it has changed." On the other side of the coin is Wall Street, where a history of drug use can haunt working professionals for years. AdvertisementLaird thinks Wall Street firms could learn a thing or two from other industries when it comes to their response to addiction.

Persons: Rudy Giuliani, It's, Joe, I'm, Anna Lembke, Streeters, biohacking, Wall, couldn't, Rudolph Giuliani, Getty John Battaglia, Spear, Goldman Sachs, " Battaglia, Goldman, Adderall, Jaime Blaustein, Blaustein, Sylvia Brafman, Zyn, who's, JAMES ARTHUR GEKIERE Denise Shull, hasn't, Shull, —, Artur Widak, they've, Ray Donovan, AGNES BUN, Battaglia, Ross Peet, Betty, Lembke, Leonardo DiCaprio, Paramount Pictures Trey Laird, Laird, Trey, That's, Peet Organizations: Business, New York Times, Wall, psychedelics, Stanford, Addiction, Mental Health Services Administration, Bettmann, Leeds, Kellogg, Sylvia Brafman Mental Health, BI, Citadel, Getty, National Institute on Drug Abuse, Credit Suisse, Traders, Bank of America, New, Betty Ford Foundation, Street, Paramount Pictures, Needham & Co, Treatment, Industry Locations: Manhattan, New York, Brussels, Silicon Valley, California, Arlington , Virginia, New York City, Bank, New Canaan , Connecticut

☆ San Francisco Is Building to Bring Residents Back
▼ + stars: | 2023-12-05 | by ( Peter Grant | ) www.wsj.com time to read: 1 min

The exodus of workers and businesses during the pandemic left San Francisco a shell of its former self. But there are small signs of a turnaround. WSJ explores whether new civic policies and fresh commercial interest can rejuvenate the city’s downtown. Photo illustration: Rio Roye/WSJReal-estate developers are launching a series of residential projects in San Francisco, responding to new efforts by the state and city to create more housing in one of the country’s most expensive places to live. In what would be the city’s most ambitious residential development in several years, local property developer Bayhill Ventures last month announced plans for a 71-story rental tower in San Francisco’s ailing financial district.

Persons: Roye Organizations: Bayhill Ventures Locations: San Francisco, San

☆ How every Club stock performed over the past 10 Decembers, a historically strong month
▼ + stars: | 2023-12-05 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

After closing at its highest level of 2023 on Friday , the first day of December, the S & P 500 fell Monday. A mixed picture is revealed when looking at how every Club stock has performed in December over the past decade. The best-performing Club stock over the past 10 Decembers is Broadcom (AVGO), which has an average gain of 7.1% in the month. Salesforce (CRM) is the worst-performing Club stock in December over the past decade, falling 4.53% on average in the month. Amazon (AMZN), Coterra Energy (CTRA) and Costco (COST) round out the bottom five December performers over the past decade.

Persons: Sam Stovall, Santa Claus, hasn't, It's, Thursday's, Estee Lauder, Eli Lilly, —, Jim Cramer's, Jim Cramer, Jim, Tayfun Organizations: GE Healthcare, Broadcom, Procter & Gamble, Wynn Resorts, WYNN, Salesforce, Ford, Palo Alto Networks, Coterra Energy, Costco, Amazon, Caterpillar, Jim Cramer's Charitable, CNBC, Wall, York Stock Exchange, Financial, Anadolu Agency, Getty Locations: Santa, Broad St, New York City, United States

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

☆ Private equity double-dips are a tasty faux pas
▼ + stars: | 2023-12-04 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

Private equity groups are trying something similar in the capital markets: successfully listing a company, then coming back for a second bite by buying it back once its stock craters. Take Synlab (SYAB.DE), listed at the height of a Covid-19 boom in testing by investment group Cinven. European companies listed by private equity groups since 2020 are trading, on average, at a 22% discount to their IPO price, according to data from Dealogic and Breakingviews calculations. The message from such deals, however, is that it’s better to buy a private equity-owned company after it has listed. Follow @aimeedonnellan on XCONTEXT NEWSPrivate equity firm Cinven on Sept. 29 offered 10 euros a share to take Covid test maker Synlab private.

Persons: Russell Boyce, Synlab, Cinven’s, Cinven, Sweden’s, Dr Martens, Elliott, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Revenue, Thomson Locations: London, Britain, Cinven, France, Dealogic, Permira, Synlab

☆ UK needs new plan to reverse hit to living standards, researchers say
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

People walk alongside the City of London financial district in London, Britain, October 25, 2023. REUTERS/ Susannah Ireland/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - Britain needs a new economic strategy to reverse 15 years of falling living standards and worsening inequality, a leading think tank and an academic research centre said on Monday. "There is no excuse for fatalism," Torsten Bell, chief executive of the Resolution Foundation, said. "Closing the gap with peers like Australia, France and Germany would deliver huge living standards gains, with typical households over 8,000 pounds better off." ($1 = 0.7881 pounds)Writing by William Schomberg; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Susannah Ireland, Jeremy Hunt, Keir Starmer, Torsten Bell, William Schomberg, Daniel Wallis Organizations: City, REUTERS, Foundation, London School of Economics, Centre for Economic, Labour Party, Conservative Party, Starmer's Labour, Thomson Locations: London, Britain, Australia, France, Germany, Birmingham, Manchester

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