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A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Shares of Tupperware Brands (TUP.N) surged 44% on Friday, after the kitchen storage container maker finalized a debt restructuring deal as it attempts a turnaround of its business, reinvigorating retail investors' interest in the company. It was the seventh most traded stock by retail investors at 10:00 a.m. The share gains were reminiscent of eye watering "meme stocks" rallies, where retail investors coordinate on social media and typically focus their speculative bets on companies that were financially struggling or had high short interest. Tupperware was the second most actively traded single stock by retail traders over the past week, according to a J.P.Morgan note.

Persons: Brendan McDermid, Tupperware, Bartosz, stocktwits.com, Peter Earle, Medha Singh, Savyata Mishra, Krishna Chandra Organizations: New York Stock Exchange, REUTERS, Tupperware Brands, American Institute for Economic Research, American, Corp, Thomson Locations: New York City, U.S, Florida, Bengaluru

New York is doing better than San Francisco — Manhattan has a vacancy rate of 13.5 percent — but it can no longer count on the technology industry for growth. More than one-third of the roughly 22 million square feet of office space available for sublet in Manhattan comes from technology, advertising and media companies, according to Newmark. The company has opted not to renew leases covering 250,000 square feet in Hudson Yards and for 200,000 square feet on Park Avenue South. Twitter, Microsoft and other technology companies are also trying to sublease unwanted space. The large amount of space available for sublet is also driving down the rents that landlords are able to get on new leases.

Persons: Newmark, ”, Ruth Colp, Haber, Colp Organizations: sublet, New, New York State, Spotify, Trade Center, Twitter, Microsoft, Wharton Property Advisors Locations: York, Francisco —, Manhattan, New York, Hudson Yards

☆ More than 50 pilot whales die after mass stranding on Scottish island
▼ + stars: | 2023-07-17 | by ( Hafsa Khalil | ) edition.cnn.com time to read: +4 min

London CNN —A pod of more than 50 pilot whales has died after a mass stranding on a northwestern Scottish island, according to a marine charity on the ground. Pilot whales are sociable animals, so if one becomes stranded, experts believe others from the pod will follow and also become stranded. Known to be gregarious, pilot whales have “extremely strong social and emotional bonds with one another,” Jarvis told CNN. In the UK, the largest stranding of pilot whales was in Scotland in 2011, when 77 were found stuck on the country’s northerly shores, according to Jarvis. Tasmania’s largest stranding was in 2020, when more than 450 pilot whales were found.

Persons: ” Dan Jarvis, Mairi Robertson, Carrey, BDMLR, ” Jarvis, we’ve, SMASS, We’re, Peter Evans, ”, Evans, Jarvis Organizations: London CNN, British, Welfare, CNN, Scottish, Sea Watch Foundation Locations: Scottish, North Tolsta, Lewis, Scotland, Tasmania, Australia

Recent inflation data points to a strong economy that could propel the S & P 500 to break the 5,000-point threshold by the end of 2023, according to Peter Essele, head of portfolio management for Commonwealth Financial Network. June data for two closely watched inflation gauges released this week, the consumer price index and producer price index , showed costs easing across the board. That signals to Essele the S & P 500 can keep charging upward, with his prediction of the 5,000 level being reached implying the S & P 500 will gain another 11.8% from Wednesday's close. The S & P 500 has already had a stellar year, rising 17%. We could easily see the S & P 500 top 5,000 by the end of the year."

Persons: Peter Essele, Essele, Sam Stovall, — CNBC's Michael Bloom Organizations: Commonwealth Financial Network, CPI, PPI, CNBC Locations: Wednesday's

Freight trains frequently stop and block the roads of York, Ala., sometimes cutting off two neighborhoods for hours. Emergency services and health care workers can’t get in, and those trapped inside can’t get out. “It’s not fair.”Residents have voiced these complaints for years to Norfolk Southern, which owns the tracks, and to regulators and members of Congress. Freight trains frequently block roads nationwide, a phenomenon that local officials say has grown steadily worse in the last decade as railroads run longer trains and leave them parked on tracks at crossings. The blockages can turn school drop-offs into nightmares, starve local businesses of customers and prevent emergency services from reaching those in distress.

Persons: can’t, ”, Amanda Brassfield, Grant City, “ Organizations: Norfolk, Freight Locations: York, Ala, Grant, Norfolk Southern

☆ OpenAI's mysterious new headquarters features nap rooms, a two-story library, and lounges for viewing both sunrise and sunset, according to planning documents
▼ + stars: | 2023-07-10 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

It's only fitting then that OpenAI should have a headquarters befitting its status as the vanguard of new AI revolution. But the company has kept details about its San Francisco headquarters a closely guarded secret. A reporter for Insider was even less successful, turned away by a security guard on an intercom who refused even to confirm or deny the existence of an OpenAI office at the location. But we may now have some hints about what it's like inside the offices of the world's most famous AI company, thanks to architectural plans and planning documents viewed by Insider. "It's an impressive space," said Peter Eisenbeiser, a city official who performed the final inspection of the 1960 Bryant Street space.

Persons: OpenAI, Peter Eisenbeiser, Travis Organizations: San Francisco's Mission, Microsoft, San, San Francisco, Florida Street, Bay, Eaton Hall, Architects, Boston Consulting Group Locations: San Francisco's, London, San Francisco, Florida, Seattle

☆ N.T.S.B. Convenes Hearing in East Palestine to Examine Train Derailment
▼ + stars: | 2023-06-22 | by ( Mark Walker | Peter Eavis | ) www.nytimes.com time to read: +1 min

The National Transportation Safety Board released thousands of pages of documents on Thursday about the derailment of a Norfolk Southern freight train in East Palestine, Ohio, providing the fullest account yet of what led to the accident. The agency released the trove of documents ahead of a two-day hearing in East Palestine, which began on Thursday morning and is set to examine several aspects of the derailment and the emergency response that followed, including the decision to conduct a controlled burn of some toxic chemicals the train was carrying. The N.T.S.B. held a community meeting on Wednesday night to field questions from residents, and the agency’s chairwoman, Jennifer Homendy, opened the hearing on Thursday morning with a message for those affected by the derailment. “Just know that all of us think about you, not just during this hearing, not just during the investigation, but well after our final board report is issued,” she said.

Persons: Jennifer Homendy, ” Organizations: Transportation Safety, Norfolk Locations: Norfolk Southern, East Palestine , Ohio, East Palestine

☆ WeWork Faces More Turmoil After Its Chief Executive Departs
▼ + stars: | 2023-06-12 | by ( Maureen Farrell | Peter Eavis | ) www.nytimes.com time to read: +1 min

A real estate executive, he became the chief executive of the troubled office space company in 2020 after a failed initial public offering pushed it to the brink of collapse. He instilled discipline and order on a business that had grown fast and chaotically under its co-founder Adam Neumann. Instead of building a company that would “elevate the world’s consciousness” as Mr. Neumann had wanted, Mr. Mathrani focused on the staid details of running a real estate company. He steered WeWork through the pandemic, got its landlords to accept less rent, took the company public and oversaw a financial restructuring, completed last month, that cut the company’s debt. But just weeks after the restructuring, the company said on May 16 that Mr. Mathrani would step down, and that no permanent successor was lined up.

Persons: Sandeep Mathrani, Adam Neumann, Neumann, Mathrani, — Organizations: Wall Street Locations: WeWork

☆ Why does Wall Street expect a rate hike in June?
▼ + stars: | 2023-05-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Wall Street expects the Federal Reserve to raise interest rates in June. Not only that, it finally believes the central bank when it says it likely won’t cut rates this year. Futures traders expected a roughly 66% chance of a quarter point rate hike in June as of Friday afternoon, according to the CME FedWatch Tool. That’s a drastic about-face from even earlier this month, when Wall Street expected the central bank to slash rates multiple times this year starting as early as this summer. “If it comes in hotter than expected, it almost locks a rate hike in” for June, said Heppenstall.

☆ Backup Power: A Growing Need, if You Can Afford It
▼ + stars: | 2023-05-06 | by ( Ivan Penn | Peter Eavis | ) www.nytimes.com time to read: +1 min

“The neighborhood has lost power a whole lot, but I have not,” Ms. Dudley said. Ms. Dudley estimates that her utility bills are about $2,300 a year lower because of that investment and her geothermal system. Generator companies believe that growing electricity usage and the threat of outages will keep demand high for their products. Many people also bought generators because of severe weather, including an extreme heat wave in 2021 in the Pacific Northwest, and winter storm Uri, which caused days of blackouts in Texas and killed an estimated 246 people. “People are thinking about this,” Mr. Jagdfeld said, “in the context of the broader changes in climate and how that may be impacting not only the reliability of power but the things that they need that power provides.”

☆ Biden set to address White House Correspondents Dinner
▼ + stars: | 2023-04-29 | by ( Maegan Vazquez | ) edition.cnn.com time to read: +9 min

But undoubtedly, a White House official told CNN, his speech will address the issue of wrongfully detained Americans abroad. US President George W. Bush, left, waves with impressionist Steve Bridges at the White House Correspondents' Dinner in 2006. Roger L. Wollenberg/Pool/Getty Images The White House Correspondents' Dinner is held in 1923. It was started two years earlier by the White House Correspondents' Association, the organization of journalists who cover the president. Roosevelt was congratulating Brandt for winning the first Raymond Clapper Memorial Award, which was given by the White House Correspondents' Association for distinguished reporting.

A real estate investment fund recently defaulted on $750 million of mortgages for two Los Angeles skyscrapers. And a big New York landlord is trying to extend the deadline for paying down a loan for a Park Avenue office tower. Office districts in nearly every U.S. city have been under great stress since the pandemic emptied workplaces and made working from home common. But in recent months, the crisis has entered a tense phase that could damage local economies and cause financial hits to real estate investors and scores of banks. Lenders are increasingly reluctant to make new loans to owners of office buildings, especially after the collapse of two banks last month.

☆ Tesla’s Profit Dropped Sharply in First Quarter as It Cut Prices
▼ + stars: | 2023-04-19 | by ( Peter Eavis | Jack Ewing | ) www.nytimes.com time to read: +1 min

Tesla’s profit fell sharply in the first three months of the year after it cut the prices of its electric vehicles, the company said on Wednesday. Tesla sold more electric cars in the United States last year than all its competitors combined. Tesla’s product line has not changed much, which can be a big disadvantage as rivals attract buyers with alluring new models. To try to maintain its hold on the market, Tesla has made a series of price cuts this year across its four models. Because it has much wider profit margins than other automakers, the company is in theory in a strong position in a price war.

☆ How the Fed is reshaping the labor market and why the nature of work is shifting, according to LinkedIn’s principal economist
▼ + stars: | 2023-04-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Today's newsletter may not include a job offer, but it will give you a better grasp of what to look for in this still-hot labor market. I'm excited to share this week's conversation with one of the leading experts on jobs and hiring trends. How is that showing up in the labor market? What about the role of AI in the labor market? What do you think of Berger's insights on the labor market?

☆ Wolfgang and Helene Beltracchi fooled the art market — and made millions
▼ + stars: | 2023-02-07 | by ( Oscar Holland | ) edition.cnn.com time to read: +12 min

“The forgery was almost incidental,” Wolfgang told Fischer. “They are storytellers, together, which is why they did a lot of research,” Fischer told CNN in a video call. Wolfgang told her that he only produced pictures he considered beautiful, and he believed the owners enjoyed them as much as the art market profited from them. In 2014, Wolfgang told CBS’ “60 Minutes” that in addition to the court-imposed damages, he had settled lawsuits worth $27 million. From her conversations with Wolfgang, Fischer concluded that both of his parents were “severely traumatized” by their experiences during World War II.

Persons: Wolfgang Beltracchi, Heinrich Campendonk —, Steve Martin, Wolfgang, Helene, Heinrich Campendonk, Peter Endig, Max Ernst, Fernand Léger, Kees van Dongen, Derain, Jeannette Fischer, Fischer, ” Wolfgang, “, ”, ’, ” Fischer, Paul Hahn, Hendrick Avercamp, Christie’s, Robin Hood, hadn’t, CNN Fischer, Picasso, —, aren’t, Leonardo da Vinci’s, Salvador Mundi, Andy Warhol, Vincent van Gogh Organizations: CNN, New York Times, Der, Art, CBS, Scheidegger Locations: Halle, Germany, Hitler’s Germany, Switzerland, France, Cologne, ”, Stalingrad

☆ Recession 2023: Jerome Powell's Legacy Will Dictate Inflation, Stock Market, Economy
▼ + stars: | 2023-01-30 | by ( William Edwards | ) www.businessinsider.com time to read: +15 min

This obsession with controlling inflation — and potentially causing serious pain for average Americans — is driven by one major factor: legacy. High inflation eats away at consumers' purchasing power, and persistent inflation seeps into expectations for price and wage adjustments, which further fuel inflation. What's more, the full impact of the Fed's rate hikes have yet to hit. Legacy actsThere are signs that certain Fed officials are ready to dial back on the inflation fight. And navigating such a tricky economy — without throwing hundreds of thousands of Americans out of work — could cement Powell's legacy.

☆ Robert De Niro was almost my 50-50 partner in MoviePass — and he showed me the 'Raging Bull' boxing ring to try to seal the deal
▼ + stars: | 2023-01-23 | by ( Stacy Spikes | ) www.businessinsider.com time to read: +15 min

One night, I said to Marianne, "What if we made a Netflix for the movie theater industry? I tried to push my subscription idea, but it fell flat. I continued to tread water on my subscription idea, but things were slow going. One Saturday, a dear friend of ours named Peter called and asked how the movie subscription idea was coming. They're interested in buying both the Urbanworld Film Festival and the movie subscription company for one million dollars.

☆ Almost half of top foreign-policy experts think Russia will become a failed state or break up by 2033, according to a new survey
▼ + stars: | 2023-01-09 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

A new survey of foreign-policy experts found that 46% think Russia will fail or break up by 2033. The Ukraine war highlights the possibility of "internal problems" in Russia, said one author. A majority of the experts surveyed also believe that China will invade Taiwan within 10 years. The survey found that 46% of the 167 experts surveyed, who come from academic, non-profit, governmental, and consultancy backgrounds, anticipate Russia's collapse within the next decade. The experts surveyed by the Atlantic Council also anticipate major developments elsewhere in the world.

☆ The Michigan lawyer pushing Trump’s voter-fraud fictions in U.S. court
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +27 min

Lambert started in her home state of Michigan, joining four lawsuits on behalf of Trump supporters. As Trump zeroed in on vote-rigging allegations in Michigan, Lambert emailed the White House, according to her July 2021 video interview with two right-wing websites. Cotton and Penrose also were involved in examining breached voting machines in Michigan for DePerno and Lambert, according to the Michigan attorney general investigation. In the process, the commissioners were accused of flouting a court order by allowing a forensics company to inspect county voting equipment. In August 2021, a federal judge reprimanded Lambert, Powell and seven other lawyers who joined the failed lawsuit seeking to overturn Michigan’s vote after Trump’s 2020 defeat.

Though a tiny fraction of the nation's plantings, the previously unreported total represents the company's biggest ever release of hybrid wheat. NEARLY 100 YEARSFarmers have used hybrid seeds since the 1930s to grow corn, followed by other crops ranging from peanuts to tomatoes. Producing hybrid wheat seeds is still more complicated and expensive than conventional wheat. Hybrid wheat can produce more uniform results across fields than conventional wheat, and may deliver better yields on poor soil, Hankey said. Syngenta projected in 2015 that its annual sales of hybrid wheat seeds could potentially reach $3 billion by 2032.

☆ The man behind Trump World’s myth of rigged voting machines
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +32 min

He publicly announced his purchase of Montgomery’s data in August at a gathering in Missouri of hundreds of his followers. “I own it,” Lindell said of Montgomery’s data, touting it as irrefutable proof Trump was cheated. On Nov. 9, far-right podcaster Joe Oltmann linked Montgomery’s Hammer and Scorecard claims to a parallel conspiracy theory: that widely used voting machines manufactured by Dominion Voting Systems were rigged to flip votes from Trump to Biden. Powell amended her complaint a few days later and dropped the expert’s declaration and the references to Montgomery’s claims. But the government said in a recent court filing that the order has nothing to do with election data.

☆ Polycrisis may lead to polycentric world order
▼ + stars: | 2022-12-19 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

Another scenario is possible: a “polycentric order” with multiple centres of authority, where the United States is the leading power but not the hegemonic one. Indeed, the outlines of such an order may already be emerging out of the conflagration of economic, political and other shocks often labelled the polycrisis. A polycentric order would be different from what is often called a “multipolar” system - a dog-eats-dog world where big powers have a licence to dominate their neighbours. The United States is not nearly as powerful as it was. President Joe Biden realises the United States needs allies, says Peter Engelke of the Atlantic Council think tank.

☆ Tax-loss selling in battered U.S. stocks could spur January snap-back
▼ + stars: | 2022-12-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Yet some investors are betting a number of those beaten-down stocks and possibly the broader market could snap back in January, once the selling period is over. DoubleLine founder Jeffrey Gundlach told CNBC on Wednesday that risk assets will likely rally in January once retail investors finish tax-loss selling. Strategists at Evercore wrote on Nov. 30 that they were "buyers of stocks whose 2022 Tax Loss selling pressure will soon abate." Investors appear to have already started selling underperforming shares. Private clients at BofA, for instance, sold nearly $1.4 billion of stocks in likely tax-motivated selling in November, up from roughly $800 million last year, and appear poised to continue that outsized rate of selling this month, the firm said.

[1/3] Eliza Luna, a ballot designer with the Maricopa County Elections Department, counts ballots for the Arizona Presidential Preference Election at the Maricopa County Tabulation and Election Center in Phoenix, Arizona, U.S., March 17, 2020. Between July 11 and Aug. 22, the county election office documented at least 140 threats and other hostile communications, the records show. Maricopa officials appeared at times overwhelmed by threatening posts on social media and right-wing message boards calling for workers to be executed or hung. Eight people face federal charges for threats, including two who targeted Maricopa County officials. The county election director had instructed him to shut down the server for delivery to the Arizona State Senate in response to a subpoena.

☆ Stocks may have rallied, but the bear market isn't over just yet. Here are the 5 stock market sectors where investors can still find profits amidst a global growth slowdown, says the CIO of a $13.5 bi
▼ + stars: | 2022-10-30 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Despite a recent rally, RBA's Dan Suzuki says the bear market is far from over. In former market bottoms, investors who waited profited more than those who bought early, he said. Suzuki shared 5 sectors to invest in to position against slowing growth while still making returns. "There's always a chance that the bear market is over, but it seems unlikely in my view," he told Insider recently over email. But investors would be better served if they considered a more holistic view, Suzuki explained on the October 24 segment of CNBC's "Closing Bell."

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