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☆ Capri names insider Cedric Wilmotte as CEO of Michael Kors
  + stars: | 2023-01-23 | by ( ) www.reuters.com   time to read: +1 min
Jan 23 (Reuters) - U.S. luxury group Capri Holdings Ltd (CPRI.N) on Monday named company veteran Cedric Wilmotte as the chief executive officer of its Michael Kors brand. Wilmotte, 48, who will take charge from April 3, recently served as the interim CEO of the group's Versace brand and is currently the label's chief operating officer. He previously led Michael Kors' EMEA (Europe, Middle East, Africa) business from 2008 to 2021. In March, Capri said the head of its Michael Kors brand, Joshua Schulman, who was set to become the group's top boss later in the year, would exit. Schulman was named Michael Kors' chief executive in August 2021.
☆ Jim Cramer's top 10 things to watch in the market Monday: Industrials, Salesforce activists, semis
  + stars: | 2023-01-23 | by ( Jim Cramer | ) www.cnbc.com   time to read: +4 min
Another activist investor, Elliott Management, takes a big stake in Club holding Salesforce (CRM), according to media reports . Same upgrade for Club holding Advanced Micro Devices (AMD); PT increase to $85 from $70. Club holding Ford (F) will have to lower prices for Mustang Mach-E. Not much competition for F-150 Lightning EV pick-up. JPMorgan downgrades Levi Strauss (LEVI) to neutral from overweight (buy); cuts price target by $2 to $17 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Retired general Pavel leads in poll ahead of Czech presidential vote
  + stars: | 2023-01-21 | by ( ) www.reuters.com   time to read: +2 min
PRAGUE, Jan 21 (Reuters) - Retired general Petr Pavel held a 15 percentage point lead over billionaire ex-premier Andrej Babis heading into a Jan. 27-28 presidential run-off vote, a Czech Television poll showed on Saturday. The poll showed Pavel leading with 53% compared to 38% for Babis with 9% undecided. The expected turnout could hit 84% in the poll next weekend, the highest ever in a Czech presidential vote, the survey found. Pavel, 61, is strongly pro-Western and supports further military aid for Ukraine as well as adoption of the euro. Pavel started his military career in the 1980s and enrolled in a military intelligence training course, which he completed after Communist rule collapsed.
☆ The US is scrambling to find what experts say may be the 'most important' hardware Ukraine needs to hold off Russia in 2023
  + stars: | 2023-01-19 | by ( Michael Peck | ) www.businessinsider.com   time to read: +5 min
Ukraine and Russia have relied heavily on artillery to batter each other's forces. The US has vowed to ramp its munitions production. The US is buying 100,000 155 mm shells from South Korea that will be sent to Ukraine. Years after post-Cold War defense cutbacks, Europe is striving to supply Ukraine despite limited stockpiles and production capability. Ukraine's shopping list includes 152 mm and 122 mm howitzers, 122 mm rockets, and ammunition for tank cannons.
☆ Credit Suisse sees money returning to the bank -CEO
  + stars: | 2023-01-18 | by ( ) www.reuters.com   time to read: +1 min
ZURICH, Jan 18 (Reuters) - Credit Suisse (CSGN.S) is seeing a reversal of outflows, CEO Ulrich Koerner said in an interview with CNBC in Davos on Wednesday. "Outflows have reduced very significantly and we are seeing money now coming back in different parts of the firm," he said. Koerner said he has "zero concerns" about conflicts of interest surrounding the bank's acquisition of former Credit Suisse board member Michael Klein's advisory firm. Earlier this month it was reported the Swiss bank would value M. Klein & Company at a few hundred million dollars. The potential deal is expected to allow M. Klein & Co. shareholders to take an eventual stake in CS First Boston using proceeds from the sale.
☆ What's next for Goldman following deep cuts and organization overhaul
  + stars: | 2023-01-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +5 min
On tap we've got stories on JPMorgan's Jamie Dimon fielding questions about the bank's acquisition strategy, another bank plans to make cuts, and fast food options that won't completely crush your diet. On Wednesday the bank conducted a majority of its cuts, reducing its global workforce by about 6.5%. A few days later, on Friday, the bank reported losses of more than $3 billion since 2020 in the unit that houses the bank's consumer lending business. Meanwhile, some of the recently axed Goldman employees have been left in the dark on what's next for them, according to reporting from Hayley and Emmalyse Brownstein. Here are some fast food options that won't completely wreck your diet.
☆ ‘The Last Taboo’ in Fashion: Showing Off Your Belly Button
  + stars: | 2023-01-16 | by ( Rory Satran | ) www.wsj.com   time to read: 1 min
Has fashion reached Peak Belly Button? Recently, we’ve witnessed the rise of crop tops for men, children, dolls, puppies and pregnant women, as well as super low-rise jeans and miniskirts from designers such as Miu Miu. Swimsuits and dresses now feature so many tummy and side cutouts they can resemble Swiss cheese. As midriff exposure has become almost humdrum, a new style is emerging: the belly-button-focused diamond-cutout dress. “Showing the belly button is the last taboo,” says New York designer Michael Kors, who created a black diamond cutout gown for entrepreneur and model Lori Harvey to wear to the 2022 Met Ball.
☆ Inside the 'doomsday' layoffs at Goldman Sachs
  + stars: | 2023-01-15 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com   time to read: +5 min
Insider reporters were in attendance — here's the inside scoop …If this was forwarded to you, sign up here. Now, on to this week's top stories …David Solomon is the CEO of Goldman Sachs. Michael Kovac/Getty ImagesGoldman Sachs conducted its worst layoffs in over a decade this week. One laid-off associate called it the "doomsday," adding: "Every 10 minutes, I just kept hearing that someone was being let go." We talked to Goldman Sachs employees who were fired — here's what they told us.
☆ Companies, Lenders Clash Over Loan Spreads in Switch From Libor
  + stars: | 2023-01-13 | by ( Mark Maurer | ) www.wsj.com   time to read: +7 min
As part of the shift, companies typically propose changes to their loan agreements with lenders, adjusting for the price difference between SOFR and Libor. The adjustment of the credit spread adds basis points to the interest rate on a loan to make up for the fact that SOFR has traded lower than Libor. The difference between SOFR and Libor can be as much as 25 basis points for loans with maturities of five to seven years. There will likely be more disagreements over credit spread adjustments as companies stop using Libor prior to its end. “There’s no reason to burn bridges over a few basis points,” Mr. Kerschner said.
☆ Valuing Michael Klein is a fascinating sideshow
  + stars: | 2023-01-13 | by ( Liam Proud | ) www.reuters.com   time to read: +5 min
The two sides have discussed a deal where Credit Suisse would acquire M. Klein & Company with Klein getting a stake in First Boston. Putting a price on M. Klein & Co is hard from the outside because its accounts aren’t publicly available. The size of that holding depends therefore on the relative worth of First Boston and M. Klein & Co. A 9% stake would then be worth $320 million, implying a huge payday for M. Klein & Co shareholders. If Klein makes money, Credit Suisse shareholders would do very well too.
☆ Putin replaces commander of Russia’s war in Ukraine after just 3 months
  + stars: | 2023-01-11 | by ( Henry Austin | Henry Austin Is A London-Based Editor For Nbc News Digital. | ) www.nbcnews.com   time to read: +4 min
Russian President Vladimir Putin has replaced the commander leading his forces in Ukraine just three months after he handed him the job. He previously led Russian forces in Syria and was accused of overseeing a brutal bombardment that destroyed much of the city of Aleppo. Britain’s defense ministry called Gerasimov’s appointment “a significant development” in Putin’s approach to the war. Although it has little intrinsic value, it lies at a strategic point around 6 miles north of the city of Bakhmut, which Russian forces are aiming to surround. Taking Bakhmut would disrupt Ukrainian supply lines and open a route for Russian forces to press toward Kramatorsk and Sloviansk, key Ukrainian strongholds in Donetsk province.
☆ Intense fighting in eastern Ukraine showed the benefits — and limitations — of HIMARS, experts say
  + stars: | 2023-01-11 | by ( Michael Peck | ) www.businessinsider.com   time to read: +6 min
HIMARS destroyed Russian positions and depots, allowing Ukraine to retake a huge swath of territory. But Russian forces adapted and were able to limit HIMARS' effectiveness in fighting around Kherson. It was initially devastating, but Russian forces eventually learned how to cope with it, according to two US defense experts. GPS-guided rockets fired from the truck-mounted mobile launcher destroyed Russian headquarters and especially ammunition dumps, which helped curtail Russian artillery fire. Ukraine had access to US intelligence, surveillance, and reconnaissance "that played an important role, but due to political parameters was untouchable by Russia," Kofman said.
☆ Inside Goldman Sachs' layoffs: 'Every 10 minutes, I just kept hearing that someone was being let go'
  + stars: | 2023-01-11 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com   time to read: +6 min
"Every 10 minutes, I just kept hearing that someone was being let go," one employee said. Goldman, which reports fourth-quarter earnings next week, has had the added problem of having lost billions on its nascent consumer banking experiment. "We've just been hearing that today was doomsday and that we'd start hearing cuts this morning. Every 10 minutes, I just kept hearing that someone was being let go," this person said. Consumer banking associateGoldman Sachs' spokesman Tony Fratto said: "We know this is a difficult time for people leaving the firm.
☆ Here's an exclusive look at the pitch deck 2 environmental engineers and a crypto enthusiast used to raise $4.1 million for their Web3 carbon-credit startup
  + stars: | 2023-01-10 | by ( April Joyner | ) www.businessinsider.com   time to read: +2 min
Open Forest Protocol, a Web3 climate-tech startup, has raised $4.1 million in pre-seed funding. An environmental engineer by trade, he launched a nonprofit devoted to helping reforestation projects find funding. Open Forest ProtocolFournier, Open Forest Protocol's CEO, cofounded the startup with Aureline Grange, a fellow environmental engineer at his nonprofit, and Michael Kelly, an early contributor to the Near blockchain. But on Open Forest Protocol, they can do so at no upfront cost. Here's an exclusive look at a version of the pitch deck Open Forest Protocol used to raise $4.1 million:
☆ US Navy ships caught a fishing boat smuggling over 2,000 AK-47 rifles from Iran
  + stars: | 2023-01-10 | by ( Jake Epstein | ) www.businessinsider.com   time to read: +4 min
US Navy forces recently found a fishing boat transporting over 2,000 rifles from Iran to Yemen. A team from the patrol coastal ship USS Chinook discovered and boarded the ship with support from fellow Cyclone-class patrol ship USS Monsoon and the guided-missile destroyer USS The Sullivans. Navy forces found that the ship was carrying 2,116 AK-47 assault rifles. U.S. naval forces seized 2,116 AK-47 assault rifles from a fishing vessel transiting along a maritime route from Iran to Yemen. U.S. naval forces seized 2,116 AK-47 assault rifles from a fishing vessel transiting along a maritime route from Iran to Yemen.
☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
  + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com   time to read: +19 min
Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.
☆ A former personal assistant to an Oscar-winning actress says the job comes with plenty of perks — but you have to set boundaries
  + stars: | 2023-01-10 | by ( Mark Ellwood | ) www.businessinsider.com   time to read: +11 min
Bonnie Low-Kramen was the personal assistant to the actor Olympia Dukakis for 25 years. She shared with Insider how she made the leap into PA work, what it's like to work for a celebrity day-to-day, and how she pivoted into entrepreneurship. Good timing got her a role working alongside a starLow-Kramen with Olympia Dukakis and Dukakis' husband, the actor Louis Zorich. Prescription and dry-cleaning pickups are a constant request, Low-Kramen said, and it can cause unexpected issues. Today, Low-Kramen said, a starting salary for a celebrity PA on call 24/7 can typically hit the low six figures.
☆ Credit Suisse nears deal to buy Michael Klein's advisory firm - Bloomberg News
  + stars: | 2023-01-09 | by ( ) www.reuters.com   time to read: +1 min
Jan 9 (Reuters) - Credit Suisse Group AG (CSGN.S) is close to an agreement to acquire former Citigroup executive Michael Klein's advisory boutique, Bloomberg News reported on Monday. The Swiss bank will value M. Klein & Company at around a few hundred million dollars, the report said, citing people familiar with the matter. Credit Suisse declined to comment on the report. M. Klein & Co did not immediately respond to a Reuters' request for comment. The potential deal is expected to allow M. Klein & Co. shareholders to take an eventual stake in CS First Boston using proceeds from the sale, Bloomberg said.
☆ Banks vs. Fintechs: Why all the billions in the world can't help Wall Street crush its digital rivals
  + stars: | 2023-01-05 | by ( Bianca Chan | Reed Alexander | ) www.businessinsider.com   time to read: +15 min
To compete, banks have written fat checks to acquire fintechs — tech, talent, and all. But on Wall Street, old habits die hard, and Goldman has struggled to make Marcus, a big fintech bet, a success. Since the beginning of the pandemic, Wall Street leaders have been at the helm of a push to get their employees back to their desks. It's more that the very things that make Wall Street, well, Wall Street are preventing it from embracing the ethos of Silicon Valley. And perhaps, for Wall Street, that's the moral of the story.
☆ We expect to see the S&P at 3,225, says Piper's Kantrowitz
  + stars: | 2023-01-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect to see the S&P at 3,225, says Piper's KantrowitzMichael Kantrowitz, Piper Sandler, joins 'Power Lunch' to discuss housing, orders, profits and employment, and what those indicators says about the strength of the economy and stocks.
☆ Federal prosecutors open investigation into Rep.-elect George Santos over congressional campaign
  + stars: | 2022-12-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Michael-Kosnar-Circle-Byline-Template.Jpg | Michael Kosnar | ) www.nbcnews.com   time to read: +1 min
Federal prosecutors in New York have opened an investigation into Rep.-elect George Santos, a law enforcement source confirmed to NBC News on Thursday. A spokesperson for Santos did not immediately respond to a request for comment. ABC News first reported the federal investigation into Santos. Last week, the New York attorney general’s office said it is “looking into a number of issues” surrounding him. The office, however, did not confirm whether it had opened an official investigation.
☆ 14 top ad industry recruiters who are helping companies like Albertsons and IPG find the best talent to help them get through a tough economy
  + stars: | 2022-12-29 | by ( Michael Kaminer | ) www.businessinsider.com   time to read: +1 min
Even as companies downsize, the demand for ad talent is still surging. As hiring power shifts back to companies, candidates need to actively sell themselves. "When the economy goes south, there is demand for certain kinds of talents," said Gary Stolkin, global CEO of The Talent Business. And talent acquisition itself keeps evolving, recruiters told Insider, with social media platforms like TikTok becoming a valuable tool for both candidates and employers. Here are 14 top industry recruiters advertisers and marketers are turning to fill roles during this uncertain period.
☆ 25 top PR hires of 2022, as companies like Activision and McDonald's grabbed executive talent to message around M&A and economic volatility
  + stars: | 2022-12-28 | by ( Michael Kaminer | ) www.businessinsider.com   time to read: +1 min
Public relations jobs were in hot demand as companies navigated an economic crises and M&A scrutiny. Top talent from places like the Biden administration, and the NFL became available in 2022.Insider tallied up the year's biggest executive hires in the public relations industry. The PR industry's talent wars raged on this year, agency owners and executives tell Insider, as firms push into content, production, and even management consulting. The right hires can affect business. A well-connected executive can reel in business from high-level contacts and leverage those connections on behalf of clients.
☆ Michael Farr: These are 2023's top stock picks for what could be a rocky year
  + stars: | 2022-12-27 | by ( Michael K. Farr | ) www.cnbc.com   time to read: +17 min
Regarding the cloud, AMZN's Web Services business is the market leader in cloud infrastructure services. Moreover, the scale of AMZN's web services business provides many cost advantages as very few companies can compete with AMZN's investment spend and first-mover advantage. Over the long term, we would expect MDLZ to generate double-digit total returns, consisting of high-single digit EPS growth and the 2.3% dividend. There is a long runway remaining for cloud growth as companies slowly deal with legacy investments that still drive value but are not cloud-based. Management remains committed to its goal of high single-digit EPS growth in 2023, followed by sustained double-digit growth in 2024 and beyond.
☆ U.S. whistleblower law doesn't protect overseas workers, court rules
  + stars: | 2022-12-23 | by ( Daniel Wiessner | Thomson Reuters | Dan Wiessner | ) www.reuters.com   time to read: +3 min
Garvey had argued that the Sarbanes–Oxley Act of 2002 (SOX), which protects workers who report securities violations, can apply to securities fraud that occurs overseas but affects U.S. markets. Circuit said SOX's whistleblower protections do not prohibit securities fraud, so any impact on the U.S. was irrelevant in applying the law. Nor did Morgan Stanley, which has denied retaliating against Garvey. An administrative law judge ruled that SOX did not apply to overseas workers, and a review board agreed last year. For Garvey: pro seFor DOL: Reynaldo FuentesFor Morgan Stanley: Michael Kenneally of Morgan Lewis & BockiusOur Standards: The Thomson Reuters Trust Principles.
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