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Music was the springboard for Harry Belafonte’s lifework: a career that leveraged cultural recognition toward political goals, and that recognized artistic achievements as both pleasures in themselves and symbols to wield. But Belafonte arrived with a voice that could be a tender pop croon or a bluesy near-shout. Like many folk revivalists, Belafonte dug into the folk song archives at the Library of Congress, and he chose songs with full awareness of their historical implications and heritage. He was pointed in his selections, insisting on the dignity of the African diaspora. He sang work songs, love songs, spirituals, blues, calypsos and, as early as the 1960s, African music.
The bank won wealthy clients with the offer of jumbo mortgage loans that required no principal payments for a decade. First Republic first moved into focus back in the March banking crisis that claimed Silicon Valley Bank, Signature Bank, and Silvergate. Like SVB and Signature, a large percentage of First Republic deposits were not insured by the FDIC, making it especially susceptible to deposit flight. Wealthy clients can easily move their deposits away from First Republic while keeping their mortgage with the firm, which creates a liquidity challenge. First Republic is now backtracking from this strategy, saying it will focus on writing loans that are guaranteed by Fannie and Freddie.
First Citizens BancShares is acquiring $72 billion in SVB assets at a discount of $16.5 billion, or 23%, according to a Sunday release from the Federal Deposit Insurance Corporation. But even after the deal closes, the FDIC remains on the hook to dispose of the majority of remaining SVB assets, about $90 billion, which are being kept in receivership. All told, the SVB failure will cost the FDIC's Deposit Insurance Fund about $20 billion, the agency said. The deal terms may be explained by tepid interest in SVB assets, according to Mark Williams, a former Federal Reserve examiner who lectures on finance at Boston University. The ongoing sales process for First Republic may have cooled interest in SVB assets, according to a person with knowledge of the process.
Its offshore debt restructuring, the country's biggest such exercise, is aimed at saving it from a disorderly collapse. The developer has $22.7 billion of offshore debt, all of which is deemed to be in default. A dollar bondholder, who was not authorised to speak to media, likened the debt restructuring plan to lending a bucket of rice to someone and being repaid with two grains a year. Evergrande said on Wednesday that additional financing of 250 billion yuan ($36.65 billion) to 300 billion yuan would be required as it resumes operations over the next three years. If Evergrande fails to push ahead with restructuring plan, the developer may have to face liquidation proceedings filed by an investor in one of its units in a Hong Kong court.
SVB Bank, which catered to startups and tech founders, imploded in three days after a run on the bank. SVB Financial is reportedly looking to find a buyer by Monday. The implosion of Silicon Valley Bank means a working weekend for some bankers. SVB Financial Group is on the hunt for a buyer after regulators closed its Silicon Valley Banking business, according to Bloomberg. Though SVB's bond losses are taking up the headlines, its parent company SVB Financial has two business segments that are enticing.
US workers are quitting their jobs less frequently than last year, but retail quits are trending up. The increase is surprising in part because major retailers are spending big money to keep workers. More quits are likely to further escalate a "labor hoarding" war among brands like Walmart, Home Depot, and Kroger. Long known for having some of the lowest wages around, retail workers collectively have seen their pay increase more since 2019 than almost any other group. With nearly two job openings per unemployed worker, rising quits in retail are likely to further escalate the ongoing labor hoarding war among major employers.
CNN —A sugar replacement called erythritol — used to add bulk or sweeten stevia, monkfruit and keto reduced-sugar products — has been linked to blood clotting, stroke, heart attack and death, according to a study. “If your blood level of erythritol was in the top 25% compared to the bottom 25%, there was about a two-fold higher risk for heart attack and stroke,” Hazen said. Clots can break off and travel to the heart, triggering a heart attack, or to the brain, triggering a stroke. “There appears to be a clotting risk from using erythritol,” Freeman said. In all three populations, researchers found that higher levels of erythritol were connected to a greater risk of heart attack, stroke or death within three years.
Persons: , Stanley Hazen, ” Hazen, , erythritol, Andrew Freeman, ” Freeman, Robert Rankin, ” Rankin, Hazen, “ It’s, Erythritol, Hazen’s, Oliver Jones, ” Jones, You’ll, Health’s Freeman Organizations: CNN, Center for Cardiovascular Diagnostics, Cleveland Clinic Lerner Research Institute, People, Nature, Jewish Health, European Association of Polyol, Cleveland Clinic’s Center, Human, RMIT University, National Health, European Food Safety Authority, Food and Drug Administration Locations: Denver, United States, Europe, erythritol, Australia
But investors have backed off, especially in formerly hot areas like Phoenix, Redfin found. The significant drop in investor purchases means less competition for regular homebuyers. Investors purchased approximately $31 billion worth of properties — equivalent to 48,445 homes —nationwide in the last three months of 2022. They include Las Vegas, Phoenix, the New York City suburb of Nassau County, Atlanta, and Charlotte, all of which saw investor purchases fall over 60% year-over-year, the report said. But the drop in home prices and investor purchases last year could signal even more dire conditions in 2023, some analysts and experts predict.
You can earn Marriott points from paid stays, co-branded credit cards, or flexible points transfers. How to earn Marriott pointsEarn points from Marriott Bonvoy hotel staysThere are plenty of different ways to earn Marriott points, but let's start with the simplest: earning points on hotel stays. Award can be used for one night (redemption level at or under 85,000 Marriott Bonvoy points) at hotels participating in Marriott Bonvoy®. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. 6X Marriott Bonvoy Points on purchases at hotels participating in Marriott Bonvoy4X Marriott Bonvoy Points on up to $15,000 in combined purchases per year at restaurants worldwide and at U.S. supermarkets2X Marriott Bonvoy Points on all other eligible purchases1,000 Marriott Bonvoy Bonus Points with each qualifying stayComplimentary Gold Elite statusA Free Night Award (redemption level at or under 50,000 Marriott Bonvoy Points) after making $15,000 in purchases per year.
There's a new reason to consider the Delta American Express cards — a 15% discount on award flights. The new "TakeOff 15" benefit is permanent, and applies to the personal and small-business versions of the Amex Delta Gold, Delta Platinum, and Delta Reserve cards. If you redeem Delta miles for Delta flights with any regularity, it might make sense to open a Delta card for this benefit. That's double the miles of the previous card bonus, which was 50,000 bonus miles and 10,000 MQMs after meeting minimum spending requirements. Review: Amex Business Delta Reserve card reviewDo you qualify for the Delta credit card bonuses?
Samsung's new flagship Galaxy S23, S23+, and S23 Ultra phones get a processor boost. While the new Galaxy 23 series follows in the footsteps of last year's S22, the Galaxy S23 Ultra, S23+, and S23 received slight updates to their design. Samsung Galaxy S23 (128GB) The Galaxy S23 (2023) is the entry model in Samsung's flagship smartphone series. Samsung Galaxy S23+ (256GB) The Galaxy S23+ is a larger-screen version of the S23 (6.6 inches versus 6.1). Samsung Galaxy S23 Ultra (256GB) The Galaxy S23 Ultra (2023) is Samsung's most powerful smartphone to date.
CNN —If you want to earn rewards points at Best Buy, you’ll have to take out a Best Buy credit card to be able to redeem them. Starting next month, however, reward points will only be available to customers who hold a Best Buy credit card. Offering free rewards can be expensive for companies, and they are trying to control costs during a period of high inflation. The reaction to Best Buy’s move mirrored customer backlash after changes to Dunkin’ and Starbucks’ rewards programs last year. Dunkin’ said in October that it was replacing its old rewards program, DD Perks, with a new program called Dunkin’ rewards.
DoNotPay wants to put AI to the courtroom test, and plans to use it to advise defendants in traffic cases. Judges could alert bar associations to a rogue "robot lawyer" on the loose, legal experts said. But DoNotPay's founder Joshua Browder plans to put his app's AI "robot lawyer" to just such a test in an upcoming traffic court case in February, according to a report in the New Scientist that heralds the first AI-powered defense in court. "The traffic court judge might have questions about who's really doing the talking here." As Browder courted headlines with the bold move to take DoNotPay's "robot lawyer" to court, he also tweeted an incredible offer on Sunday.
Annual travel credit can effectively shave $300 off the annual fee if you use it Check mark icon A check mark. Very high annual fee Highlights Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Annual companion certificate can help you recoup most, if not all, of the annual fee Check mark icon A check mark. $325 annual travel and dining credit can offset most of the $400 annual fee Check mark icon A check mark. Statement credits can help you recoup the annual fee Check mark icon A check mark.
Mortgage rate buydowns are a home financing tool that provides buyers with a lower interest rate. Homebuilders are employing rate buydowns the most in areas where home prices are falling the fastest. A prevalent trend that builders are leaning into in order to help them sell more homes amid an increasingly tough economic climate is paying for mortgage rate buydowns for prospective buyers. A rate buydown is an upfront payment for "discount points" at closing to reduce the rate on a fixed-rate mortgage term. The company is offering what's known as a 2-1 buydown where a buyer's mortgage rate is decreased by 2% during their first year and 1% in their second year before returning to a fixed rate for the remaining duration of the loan.
How High Will Savings Rates Go in 2023?
  + stars: | 2022-12-08 | by ( ) www.wsj.com   time to read: +6 min
By Steve GarmhausenInterest rates on savings accounts have been rising fast, and savers are likely to see more improvements in 2023. Where are interest rates headed in 2023? Will savings rates go up in 2023? Though they take their cues from the fed-funds rate, banks tend to take weeks or even months to hike their savings account rates. The Fed could cut rates sooner than expected, pulling savings rates down in the process.
Best credit cards for seniors and retireesSubscribe to the Select Newsletter! How to redeem rewards: Points can be redeemed for cash back or gift cards at a rate of 1 cent per point. How to redeem rewards: Points can be redeemed at a rate of 1 cent per point toward travel, statement credits, gift cards or merchandise through the Rewards Center. Other great perks: Perks include special benefits through Silvercar Car Rental and the Luxury Hotel Collection, 24-hour service via the Visa Signature® Concierge, lost luggage reimbursement and exclusive access to fine dining and entertainment experiences. Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
Costco’s Credit Card Is Also Great for Filling Your Gas Tank
  + stars: | 2022-12-02 | by ( ) www.wsj.com   time to read: +6 min
By Ana StaplesURL:WRITER: Ana StaplesThe Costco Anywhere Visa Card by Citi is a rewarding combination of a Costco store credit card and a cash back credit card. Plus, no other credit card from a major bank offers such a high rewards rate on gas and EV charging. The 3% rate on dining and travel also gives this card an edge and is comparable to rewards offers on some of the best travel credit cards. You’ll get a credit card reward certificate once a year with your February billing statement. If that’s the case, you might want to look into a secured credit card that earns rewards.
The best Cyber Monday game console dealsDeal icon An icon in the shape of a lightning bolt. Great Price Xbox Series S During the holidays, Microsoft is offering their budget console, the Xbox Series S, for $60 off. The best Cyber Monday game dealsDeal icon An icon in the shape of a lightning bolt. $39.99 from Best Buy Originally $59.99 Save 33%The best Cyber Monday gaming accessory dealsDeal icon An icon in the shape of a lightning bolt. Deals on essential subscriptions like Xbox Game Pass and Nintendo Switch Online are also available during Cyber Monday, too.
Cyber Monday has begun, and existing Dyson customers can still save on the coveted Dyson Airwrap. Deal Dyson Dyson Airwrap Special Edition Complete Long With new barrels to curl and wave in both directions, brushes to control and shape, and the multi-functional Coanda smoothing dryer to dry, smooth, and hide flyaways. Existing Dyson customers can save 20% off using the code e-mailed to them on November 21. If the Dyson Airwrap is still out of your budget, you can find solid deals on similar two-in-one hairstyling products. It's comparable to the expensive Dyson Airwrap, but for a fraction of the cost.
Black Friday is just a few days away and one of the hottest beauty gifts this year is the Dyson Airwrap. While the Dyson Airwrap itself isn't discounted anywhere that we've found, there are a few promotions that will help you get discounted attachments or receive store credits when purchasing the Airwrap. If the Dyson Airwrap is still out of your budget, you can find solid deals on similar two-in-one hairstyling products. It's comparable to the expensive Dyson Airwrap, but for a fraction of the cost. Deal Hot Tools Professional 24K Gold One Step Blowout The Hot Tools Profesional 24K Gold One Step Blowout delivers professional results with one simple tool.
Getting laid off? Know your rights
  + stars: | 2022-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +8 min
The abrupt and unceremonious way that thousands of Twitter employees got laid off last week was a spectacle. But it was also a helpful reminder that while employers can get rid of many workers at will (and with zero graciousness), employees are not without rights when they are laid off en masse. Technically you will remain on the company’s payroll and will continue to receive pay and benefits in the interim, and then any severance you’re given would kick in. A second reason many offer severance: “Good will and fairness to the employees and to the community as a whole. Or, if you just have some very simple questions, some employment lawyers might offer a free consultation by phone.
Amazon expands ad-free music, podcasts for Prime members
  + stars: | 2022-11-01 | by ( Annie Palmer | ) www.cnbc.com   time to read: +2 min
The Logo of music streaming platform and online music store Amazon Music is displayed on a smartphone on December 14, 2018 in Berlin, Germany. Amazon is expanding its selection of ad-free music and podcasts for Prime members, the latest effort to sweeten the perks offered in its mainstay subscription program. Amazon is significantly boosting its music library available to Prime subscribers to 100 million songs, up from 2 million, the company announced Tuesday. The new Prime podcast and music perks are likely to ratchet up competition with Spotify and Apple's Apple Music. "When Amazon Music first launched for Prime members, we offered an ad-free catalog of 2 million songs, which was completely unique at the time," said Steve Boom, VP of Amazon Music, in a statement.
Shares of Club holding Pioneer Natural Resources (PXD) climbed in extended trading Thursday on the back of solid third-quarter results. Most importantly for the Club, Pioneer continued to demonstrate its commitment to returning the majority of its excess cash to shareholders via buybacks and dividends. Here's a breakdown: Oil: 354,040 barrels a day, ahead of expectations for 353,600 barrels a day. Total oil equivalent production per day in a range of 655,000 barrels to 680,000 barrels, versus a consensus estimate of 653,900 barrels a day. The company continues to forecast oil production between 350,000 barrels a day and 365,000 barrels a day, while it expects total production of barrels of oil equivalent a day between 623,000 and 648,000.
That's something Wells Fargo also referenced, contending it should result in higher margins at Halliburton and other energy services firms. The turning tide for oil prices has helped support stock prices across the industry. And for the likes of Pioneer, Devon and Coterra, sizable cash returns through dividends and buybacks sweeten the investment case. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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