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☆ Russia's war economy isn't as resilient as reports would have you believe
▼ + stars: | 2023-04-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

That brings us to today's main story — economists say the official data coming out of Russia isn't painting an accurate picture of Putin's wartime economy. "These are the things that businesses deliver and consumers purchase in an economy, and they have been absorbing the impact. Our tracker shows a contraction of the Russian economy ahead of the official figures release precisely because we use high-frequency indicators from the private economy." Vehicle sales, imports, credit growth, home prices, and other measures all point to a much less robust regime since Vladimir Putin's war on Ukraine began. These four charts tell the story of how war has reshaped Russia over the last year.

☆ 2 Volcom execs attempt to surf, skate, snowboard, and work all in one day. Here's how they pulled it off.
▼ + stars: | 2023-03-06 | by ( Sponsor Post | Created Insider Studios With Dell Technologies | ) www.businessinsider.com time to read: +8 min

The challenge: Attempt a surf, skate, and snowboard "trifecta" in the middle of a busy work dayOver the past few years, remote work has become a routine part of our lives. This is the case for the sales teams at Volcom, a global lifestyle apparel brand based in Costa Mesa, California. Two Volcom sales executives, Brent Lantz and David Jurusik (or BL and Nook, respectively), embrace this — whether it's taking a call on a ski slope or discussing inventory with retailers on the road. Dell Technologies and Intel teamed up with Volcom to see if they could improve and optimize their on-the-go sales efforts and work connectivity. The challenge: Attempt a southern California "trifecta" — surfing, skateboarding, and snowboarding within a 12-hour period — all while completing a full day of work.

They stressed that the reallocation would be gradual and not result in fire sales, with new money going largely into fixed income rather than alternative investments. Goldman Sachs' asset management arm is planning to significantly reduce its $59 billion of alternative investments. Credit rating agencies Moody's and S&P, which both give Allianz high marks, have pointed to the greater risk posed by comparatively illiquid alternative investments in Allianz's portfolio. Alternative investments come at a price, requiring Allianz and other insurers to set aside more capital to own them because they are less liquid than bonds. In its wake, Allianz has had to close down Allianz Global Investors in the United States in a serious blow to the company.

☆ Factbox: How to get Microsoft's new AI-enhanced Bing
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Microsoft Corp (MSFT.O) on Tuesday unveiled a juiced-up version of its Bing search engine and Edge Web browser, powered by an upgraded version of ChatGPT's underlying technology. Users will need to go to this link and sign in to a Microsoft account to get on a waitlist to access Bing search. To jump the line, Microsoft said users can set Bing as the default search engine on their PC and scan a QR code to download the Bing Search app on your phone. Here is how Microsoft has integrated the technology from OpenAI, in which Microsoft first invested in 2019, into Bing and Edge. For more complex searches, such as planning a detailed trip itinerary or researching a TV set to buy, users can refine their search by asking more details through the Bing chat.

☆ Meet 8 new cars from the LA Auto Show, where the electric future is rolling out to the public
▼ + stars: | 2022-11-22 | by ( Andrew Moseman | ) www.businessinsider.com time to read: +2 min

After a three-year pandemic hiatus, the in-person version of the Los Angeles Auto Show has returned. The show featured a slew of electrified vehicles and the presence of charging companies. As the show opens to the public, take a look at the best of what's new. This article is part of the Ride Along series, a collection of stories recapping some of the biggest auto shows around the country. But in Los Angeles, automakers preparing for a seismic shift talked up their electric futures.

☆ What Cramer is watching Tuesday — big J&J deal, Lilly guidance light, Biden scolds Big Oil
▼ + stars: | 2022-11-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding J ohnson & Johnson (JNJ) buys Abiomed (ABMD), premier heart pumping company, in a deal valued at $16.6 billion. J & J is paying a hefty premium: $380-per-share upfront, plus extra $35-per-share if certain milestones are met. J & J juiced growth ahead of its separation into two companies: one, pharma and the other, consumer brands. This will raise the growth rate of the MedTech portion of new J & J company. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) very good: $516 million versus $470 million expected.

☆ Philip Morris’ Swedish bet may take multiple tokes
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 20 (Reuters Breakingviews) - Philip Morris International (PM.N) may need to show more flexibility. PMI Chief Executive Jacek Olczak has strengthened his hand by sealing a $2.7 billion deal with Altria to buy the rights to sell IQOS heated tobacco products in the United States, giving him an alternative way to grow in smokeless tobacco products. Still, it may be hard to get the Swedish Match deal over the line, given PMI’s ambitious 90% acceptance rate. That’s probably why the shares are currently trading close to the offer price at 112 crowns. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ The biggest takeaway from Bank of America's earnings, and what it means for the broader stock market
▼ + stars: | 2022-10-17 | by ( Michael Santoli | ) www.cnbc.com time to read: +4 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. There has been no net downside since June 16 even with yields higher, earnings expectations slipping and recession anticipation becoming entrenched. And the S & P has not even bounced back to Friday morning's high at this point, so it could be simply a bit more noisy, untrustworthy action. This market has many issues, but the valuation of the typical stock is no longer one of the top ones. Here we see year-ahead P/E ratios for the S & P 500, equal-weighted S & P 500 (back near late-2018 lows) and S & P 600 Small Cap (near Covid crash low).

But it is unclear how many lenders are tapping the facility and whether pension funds are willing to shell out additional fees for what is a temporary solution, sources told Reuters. Banks are reluctant to increase their lending to LDI funds through the repo facility, according to one official at a European bank. BRIDGING THE GAPLDI is an investment strategy sold by asset managers like BlackRock, Legal & General Investment Management and Insight Investment to pension schemes to help them match their assets and liabilities. Governor Andrew Bailey has rejected calls to continue buying bonds from pension funds which say they still need support beyond Friday. "It's a bridging tool that they can still use to keep the dialogue with the market and the pension funds going."

☆ FedEx boss tells the US to brace for stagflation because there aren't enough workers to meet juiced-up demand
▼ + stars: | 2022-09-19 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

FedEx founder Fred Smith warned that labor shortages could lead to stagflation in the US. "You simply do not have the workers to meet the demand that's been juiced by the printing of money," Smith said. "You simply do not have the workers to meet the demand that's been juiced by the printing of money," the delivery giant's executive chairman told Fox Business's 'Kudlow' on Saturday. "The problem is when that comes head-to-head with the lack of labor we have in the United States to meet the demand," he added. Labor shortages, rather than the coronavirus pandemic, fueled last year's supply-chain crisis, according to Smith.

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