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☆ Three major risks that have the banking industry on edge
▼ + stars: | 2023-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

The toll of the WFH eraCommercial real estate — offices, apartment complexes, warehouses and malls — has come under substantial pressure, my colleague Julia Horowitz reports. Commercial property valuations could fall by roughly 20% to 25% this year, according to Rich Hill, head of real estate strategy at Cohen & Steers. About $270 billion in commercial real estate loans held by banks will come due in 2023. The proportion of commercial office mortgages where borrowers are behind with payments is rising, according to Trepp, which provides data on commercial real estate, and high-profile defaults are making headlines. That might seem simplistic, but it’s especially relevant for an industry as uniquely reliant on trust as banking is.

☆ Google CEO Sundar Pichai Says Search to Include Chat AI
▼ + stars: | 2023-04-06 | by ( Miles Kruppa | ) www.wsj.com time to read: 1 min

Google plans to add conversational artificial-intelligence features to its flagship search engine, Chief Executive Officer Sundar Pichai said, as he steers the tech company’s response to competition from chatbots such as ChatGPT and to wider business pressures. Advances in AI would supercharge Google’s ability to answer an array of search queries, Mr. Pichai said in an interview with The Wall Street Journal. He dismissed the notion that chatbots posed a threat to Google’s search business, which accounts for more than half of revenue at parent Alphabet Inc.

☆ Google CEO Sundar Pichai Says Search to Feature Chat AI
▼ + stars: | 2023-04-06 | by ( Miles Kruppa | ) www.wsj.com time to read: 1 min

☆ Australia’s Central Bank Jumps Ahead of Fed by Holding Interest Rates Steady
▼ + stars: | 2023-04-04 | by ( James Glynn | ) www.wsj.com time to read: 1 min

The Reserve Bank of Australia kept its official cash rate at 3.60% at its latest policy meeting. SYDNEY—Australia’s central bank put the brakes on its campaign of interest-rate increases, breaking with many of its global counterparts as it steers the commodity-rich economy on a narrow path away from a recession. The Reserve Bank of Australia kept its official cash rate at 3.60% at a policy meeting on Tuesday, snapping a run of 10 consecutive increases that have added 3.50 percentage points to the benchmark rate since May last year.

☆ Ford CEO channels Elon Musk, saying the automaker's next electric truck will drive itself while you sleep
▼ + stars: | 2023-03-24 | by ( Alexa St. John | Tim Levin | ) www.businessinsider.com time to read: +2 min

In Elon Musk-like fashion, Ford CEO Jim Farley just made big claims about self-driving tech. Farley told Bloomberg in an interview that Ford's next pickup will drive itself. In a new interview with Bloomberg published Friday, Farley upped his company's pressure on Tesla, saying the company's next electric truck set to debut in 2025 is a "breakthrough product." For years, Musk has claimed that self-driving Teslas are coming, but the tech isn't ready yet. The declaration about self-driving tech comes mere months after Ford shut down Argo AI, its autonomous-driving unit that was working on self-driving taxis.

☆ Joe Biden’s Push to Counter China Steers EV Investments to Canada
▼ + stars: | 2023-03-22 | by ( Vipal Monga | ) www.wsj.com time to read: 1 min

TORONTO—Multinational companies are pumping billions of dollars into Canada’s electric-vehicle manufacturing sector, lured by government incentives, access to raw materials and cheap renewable energy. In the latest sign of interest in the country, German auto maker Volkswagen Group announced last week that it had chosen a site in the province of Ontario to build its first battery-cell plant outside Europe. A company spokesman declined to provide specifics about the investment, but Canada’s industry minister said the investment, in the town of St. Thomas, 120 miles northeast of Detroit, could rank as the largest ever made in Canada’s auto sector.

The case for falling rentSomething strange is happening in the apartment market. More than 971,000 apartment units were under construction across the US at the end of 2022, the second-largest number on record. There's only so much people are willing to pay,'" said Jon Leckie, a researcher for Rent, a platform that helps landlords market their properties. For now, though, the wave of supply that's already underway should keep rents in check over the next couple of years. Now, as landlords shift their focus from jacking up rents to filling up units, renters can once again look ahead to better days.

At its latest meeting, the Fed laced its statement and minutes with a rider about cumulative tightening and uncertain lags. The gist of the argument is that the Fed doesn't deliver credit directly to the wider economy - banks and financial markets do. But few seem to doubt that these policy lags have shortened considerably over the decades. Showcasing the study in December, San Francisco Fed chief Mary Daly adopted a more dovish slant on the gap between the funds rate and tightening financial markets. "But investors should remain attentive to the occasional episodic disconnects observed between Fed guidance and some prominent indices of financial conditions," Clarida told clients.

In this article LUV Follow your favorite stocks CREATE FREE ACCOUNTGenaro Molina | Los Angeles Times | Getty ImagesWill the majority of travelers forgive Southwest Airlines and start buying tickets on the major U.S. air carrier again? Southwest Airlines accepted the blame for its technological meltdown during the holidays, and it has committed over $1 billion to fixing it. He pointed to $29 fare sales, "something I haven't seen Southwest offer in a long time," he said. The Southwest spokeswoman said the airline has a long history of innovation and pioneering technology in the airline industry. BALTIMORE, MD - DEC 27: Hundreds of passengers wait in line to handle their baggage claim issues with Southwest Airlines at Baltimore/Washington International Thurgood Marshall Airport in Baltimore, Maryland on December 27, 2022.

☆ Super Bowl ad slams Tesla’s ‘Full Self-Driving’ tech
▼ + stars: | 2023-02-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

New York CNN —Electric carmaker Tesla will face a hit on Super Bowl Sunday, when an ad will play showing the alleged dangers of its Full Self-Driving technology. The ad is part of a multimillion dollar advertising campaign by The Dawn Project. The ad cost $598,000, a Dawn Project spokesperson told CNN. “Tesla’s Full Self-Driving is endangering the public,” the ad said. “Tesla’s reckless deployment of Full Self-Driving software on public roads is a major threat to public safety.

☆ Morning Bid: Volatility stirs
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +5 min

World markets end a rough week of confusing and competing narratives in distinctly edgy form, with peculiarly subdued volatility gauges flickering back to life. Both 10 and 30-year yields hit their highest levels in over a month early on Friday. Job shedding in the digital sector continued, with Yahoo's plans to lay off more than 20% of its total workforce. That said, the year-on-year oil price trend continues to be negative, as it's been all year and base effects from last year's price spike around the Ukraine invasion will only deepen that and weigh on headline inflation further. Goldman Sachs lowered its oil price forecasts for this year and next, cutting its Brent 2023 price forecast by $6 to $92 per barrel - still above current levels around $86.

☆ History With a Headache for LeBron James
▼ + stars: | 2023-02-06 | by ( Jason Gay | ) www.wsj.com time to read: 1 min

These are strange days for the NBA, a thriving podcast content farm with a sturdy side business of playing organized basketball games. On Sunday, the Dallas Mavericks traded with Brooklyn for the point guard/chaos agent Kyrie Irving, eager to pair him with their young superstar, Luka Doncic, and see if he lifts the franchise, or hilariously steers it to the brink of avoidable self-destruction. More likely, he does a little of both.

☆ 'Call of Duty' steers Activision sales in tough quarter for game makers
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Feb 6 (Reuters) - Videogame publisher Activision Blizzard (ATVI.O) beat Wall Street estimates for fourth-quarter adjusted sales on Monday, thanks to the success of the latest game in its "Call of Duty" franchise. The company expects its full-year adjusted sales to grow at least in high-single digits, bolstered by the launch of games including "Diablo IV." Adjusted sales in the quarter ended Dec. 31 came in at $3.57 billion, compared with analysts' average estimate of $3.16 billion, according to Refinitiv data. Activision's $69-billion takeover by Microsoft is being challenged by the U.S. Federal Trade Commission and being investigated by EU authorities. Fourth quarter net income fell to $403 million, or 51 cents per share, from $564 million, or 72 cents per share, a year earlier.

☆ Why Netflix is placing cars like the Chevy Bolt in its shows, and what the streamer's deal with GM means for its growing advertising business
▼ + stars: | 2023-02-02 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Netflix announced a new deal to integrate GM electric vehicles into popular shows like "Love is Blind" and "Queer Eye." On a press call announcing the deal, Lee said directors and showrunners would be involved in the process and that cars would be integrated in an "authentic" way so they don't "feel out of place." Netflix has a history of placing brands like Coke and GM in shows like "Stranger Things" and "Queer Eye." Lee insisted the GM deal isn't "product placement" and that GM isn't paying to put its vehicles on shows. Terms of the deal weren't shared; GM said it wasn't part of a TV ad buy on Netflix's Basic with Ads.

☆ Tesla confirms DOJ has requested documents on Autopilot, ‘Full Self-Driving’
▼ + stars: | 2023-01-31 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +3 min

“Full Self-Driving” steers the vehicle on city streets, but also may stop for traffic signals and make turns to reach a destination. Tesla said that it’s not aware of any ongoing government investigation that has concluded any wrongdoing occurred. NHTSA first investigated Tesla’s driver-assist technology after reports that Autopilot-engaged vehicles were crashing into emergency vehicles stopped at the scene of earlier crashes. The investigation raises the stakes for Tesla and its claim of self-driving technology. IIHS found that 42% of Tesla Autopilot users were comfortable letting the system drive the vehicle without them watching what was happening on the road.

☆ Mercedes-Benz says it has achieved Level 3 automation, which requires less driver input, surpassing the self-driving capabilities of Tesla and other major US automakers
▼ + stars: | 2023-01-30 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Mercedes-Benz announced it will introduce its Level 3 autonomous driving system in Nevada. Unlike a Level 2 system, which requires constant supervision from the driver as the vehicle steers and accelerates, Level 3 automation gives drivers more leeway. When The Drive's test pilot put a camera in front of his face, Mercedes's autonomous driving system disengaged. Some critics have also accused the company of misleading its customers by calling the company's autonomous driving system "Full Self-Driving." Spokespersons for Mercedes-Benz, Tesla, and SAE did not respond to a request for comment.

☆ I see this year's budding stock rally signaling a different kind of bull market, one that's not so reliant on just a few stocks
▼ + stars: | 2023-01-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

This nascent bull market started with the peak in interest rates and the dollar back in the fall and then broadened to include bank and semiconductor stocks in 2023. That's right we created FANG a decade ago this week on "Mad Money," and it was a really good call — until it wasn't. The stability of a market that's based, in part, on the assumption of a JPMorgan (JPM) or an American Express or even a Boeing rallying on earnings, seems tidal to me. That's what's happening as we consider the market to be far bigger than any group of a half-dozen stocks. Yes, I am shredding the cynicism and heralding the new bull market, one that's not ignorant of what ails things, but is benignly rotational.

☆ MrBeast's girlfriend showed him guzzling raw egg whites with chocolate syrup as part of his supposed productivity "grind"
▼ + stars: | 2023-01-26 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

MrBeast's girlfriend, Thea Booysen, filmed him swigging egg whites and chocolate syrup. The YouTuber has been open about lifestyle habits he believes are required to be the most successful YouTuber in the world. And on Wednesday, Donaldson's girlfriend – the Twitch streamer and author Thea Booysen – gave a rare, behind-the-scenes glimpse into what his unusual life can look like. In a since-evaporated Instagram Story on Wednesday, Booysen filmed the YouTuber guzzling raw egg whites straight from the carton. In a subsequent story, Donaldson poured chocolate syrup into a cup filled with a yellowish-white liquid – presumably the egg whites, before swigging that down as well.

[1/4] U.S. Treasury Secretary Janet Yellen and South Africa's Finance Minister Enoch Godongwana attend media briefing ahead of bilateral talks, at the treasury offices in Pretoria, South Africa, January 26, 2023. He said Yellen's visit was a "momentous" occasion, noting the previous visit by a U.S. Treasury secretary was in 2014. South Africa has remained one of Moscow's most important allies on a continent divided over Russia's invasion of Ukraine on Feb. 24 last year. The Treasury secretary, who meets with South Africa's central bank governor later on Thursday, singled out South Africa's "Just Energy Transition Partnership," which was backed in late 2021 by the United States, Britain, France, Germany and the European Union. They pledged a combined $8.5 billion to accelerate South Africa's transition away from fossil fuels to renewable energy, but the total bill will be much higher.

☆ Football and Finances: NFL's Ndamukong Suh teaches kids money smarts
▼ + stars: | 2023-01-18 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

That would be Ndamukong Suh, 36, an American football star who strikes fear into the hearts of opposing teams. Some NFL players and other well-paid professional athletes run into money troubles after their playing careers end. But Suh did fall into a typical money trap early in his career, spending more than he should have. Personally I made the mistake of going out to nightclubs and spending $25,000 to $50,000, versus taking that money and investing it." It is his hope that beyond the current target cities, the money smarts initiative with Intuit will go global.

☆ Building self-discipline by age 27 is crucial, says psychiatrist from the Netflix doc 'Stutz': 3 ways to do it
▼ + stars: | 2023-01-14 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Leading a fulfilling life requires discipline, Stutz said on a recent episode of "Armchair Expert," hosted by Dax Shepard and Monica Padman. Structural disciplineThe act of taking those reactive habits and integrating them into your "baseline" routine is what Stutz called structural discipline. Structural discipline relies more on conscious decision-making, while reactive discipline relies on subconscious behavior. In her book, "Good Habits, Bad Habits: The Science of Making Positive Changes That Stick," Wood frames it like this: You have to make the decision to ask your boss for a promotion. In other words, habits — good and bad — are formed through routines over time, which is why Stutz says you would be wise to adopt daily routines that promote good habits.

The Fed's aggressive monetary policy tightening to curb decades-high inflation hammered U.S. equities in 2022, with the three main indexes logging their steepest annual declines since 2008. Fed Governor Michelle Bowman said on Tuesday the U.S. central bank will have to raise interest rates further to combat high inflation. Healthcare stocks (.SPXHC) rose 0.5% and were also a major boost to the benchmark S&P 500 index. Advancing issues outnumbered decliners for a 1.17-to-1 ratio on the NYSE and a 1.62-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and no new low, while the Nasdaq recorded 37 new highs and 20 new lows.

SummarySummary Companies Powell steers clear of monetary policy outlookMicrosoft up on report of investment talksBoeing down on report of rating downgradeIndexes up: Dow 0.33%, S&P 0.42%, Nasdaq 0.70%Jan 10 (Reuters) - Wall Street's main indexes edged higher on Tuesday, boosted by gains in Microsoft and Amazon, as investors assessed commentary from Federal Reserve Chair Jerome Powell that steered clear of the monetary policy outlook. Microsoft Corp (MSFT.O) rose 1.2% after a report stated the software company was in talks to invest $10 bln in ChatGPT creator OpenAI. The U.S. central bank's independence from political influence is central to its ability to battle inflation, Powell said on Tuesday. The Fed's aggressive monetary policy tightening to curb decades-high inflation hammered U.S. equities in 2022, with the three main indexes logging their steepest annual declines since 2008. The S&P index recorded 1 new 52-week high and no new lows, while the Nasdaq recorded 27 new highs and 14 new lows.

☆ A Tesla owner said self-driving mode got him home 'flawlessly' when he was 'probably drunk'
▼ + stars: | 2023-01-07 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

The owner of a Tesla said he used Full-Self Driving mode to get him home just after Christmas. On Twitter Spaces, he admitted being drunk and claimed the system drove him home "flawlessly." "I admitted the other day, I was a little bit tipsy after Christmas," the driver, whose Twitter handle is @denguyen73, said during a Twitter Spaces called "$TSLA - Musk Metldown Marathon." The probe is considering whether Tesla's claim to offer "full-self driving capabilities" defrauds consumers. These incidents often appear to occur when drivers use Tesla's Autopilot, which automatically accelerates, brakes, and steers on highways.

☆ Ron DeSantis Outlines Second Term as Governor, Steers Clear of Donald Trump
▼ + stars: | 2023-01-03 | by ( Cameron Mcwhirter | John Mccormick | ) www.wsj.com time to read: 1 min

Florida Gov. Ron DeSantis with his wife, Casey, and their children during an inauguration ceremony in Tallahassee, Fla.Florida Gov. Ron DeSantis , a potential leading Republican presidential contender in 2024, attacked what he called “faddish ideologies” and Washington’s “floundering federal establishment” in remarks Tuesday at the inauguration of his second term. Mr. DeSantis, 44 years old, said the state’s law-and-order agenda and its rejection of severe restrictions during the height of the Covid-19 pandemic had motivated people from other states to move to Florida in recent years. In December, the U.S. Census Bureau declared Florida—with 22.2 million residents—to be the nation’s fastest-growing state from 2021 to 2022.

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