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☆ As Wall Street drops drug-testing policies, could microdosing be next?
▼ + stars: | 2023-01-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Many big banks, in particular, maintained drug-testing policies for new hires as recently as a few years ago. But as the public appetite, and market, for drugs like psychedelics continues to rise, it'll be interesting to see how Wall Street responds. Click here to get the latest on the drug-testing policies at Wall Street's biggest banks. More on Solomon's salary adjustment and how it compares with other Wall Street leaders. Turns out FTX might owe top Wall Street banks some money.

☆ Tech layoffs strip the facade of TikTok's 'day in the life' videos
▼ + stars: | 2023-01-29 | by ( Morgan Sung | Morgan Sung Is A Trends Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +6 min

Meta, Salesforce, Twitter, Snap and other tech companies have also announced layoffs in recent months. Others are using their platforms to raise awareness of labor rights in wake of recent layoffs. So yeah, I’m unemployed, but I have a hell of a lot of confidence in myself.”Educating viewers about their rights has also gained popularity after recent layoffs. TikTok user alberta.nyc, a Google software engineer and self-described “tech cynic," has made videos about the importance of unions in the tech industry. In a video, creator alejandra_n_h expressed solidarity with former Amazon employees who had been affected by recent layoffs.

Towns said the lawmakers could have until early spring, otherwise, to develop and fine tune any proposals that emerge from Nichols' death. Share this -Link copiedMemphis police’s vaunted Scorpion unit is deactivated after Tyre Nichols' death Memphis police’s vaunted Scorpion unit has been permanently deactivated. Share this -Link copiedNFL calls for change after 'senseless death' of Tyre Nichols A day after the release of video showing the police beating of Tyre Nichols, the NFL on Saturday condemned the violence. Demonstrations continued Saturday in Atlanta, Boston and Charlotte following the release of video footage showing five former Memphis police officers beating Tyre Nichols, who died on Jan. 10. Attorney Blake Ballin’s comments follow the release of video footage showing the officers punching and kicking Tyre Nichols during a Jan. 7 traffic stop.

Body camera video shows punches on ground, Nichols saying 'mom' Portions of body camera video released in the death of Tyre Nichols shows him being punched several times while he is on the ground. The call was made in advance of the expected public release of video in the death of Tyre Nichols, who died after a violent encounter with Memphis police officers on Jan. 7. Share this -Link copiedMemphis fire officials receive video showing Tyre Nichols' beating, will conclude investigation next week The Memphis Fire Department said it received full access to video footage showing the fatal beating of Tyre Nichols earlier Friday. The five Memphis officers involved in the traffic stop were fired and have since been arrested on numerous charges including murder. "I will ask everyone to heed the words of Tyre Nichols' mother," Hochul said.

☆ I moved to New York from the UK to marry my partner using a K-1 visa. The process was so difficult that we had to sue the government.
▼ + stars: | 2023-01-28 | by ( Dan Gooding | ) www.businessinsider.com time to read: +6 min

Gooding decided to move to New York, so he married David. They applied for a K-1 visa. I fell in love with him and New York City. We submitted our K-1 visa application the day before the city's COVID-19 lockdown hit. First, the US fiancé applies for the K-1 visa on their international partner's behalf.

"I will ask everyone to heed the words of Tyre Nichols' mother," Hochul said. Share this -Link copiedLawyers applaud kidnapping charges and say Nichols was 'terrorized' Attorney Antonio Romanucci said terrorism was part of the kidnapping charges against the five Memphis police officers charged in Tyre Nichols’ death. Attorney Ben Crump said Nichols’ told the officers, “I just want to home home.” “It's a traffic stop for God’s sake. Attorney Ben Crump said Nichols’ last words in the body camera footage of his arrest were three cries for his mother. This week, Memphis Police Chief Cerelyn “C.J.” Davis announced a review of all the police department’s specialized units, including Scorpion, in response to Nichols’ death.

☆ Due diligence is top of mind for Wall Street in the wake of blowups at Frank and FTX. Here's what it means for the state of M&A.
▼ + stars: | 2023-01-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In the long list of boring, behind-the-scenes stuff for deals to get done, due diligence ranks close to the top. One of the more fascinating knock-on effects is how buyers might leverage FTX and Frank as a way to get better terms on deals. Click here to read more about the new state of due diligence in the wake of FTX and Frank. I know you're a passionate bunch, so we compiled everything Wall Street is saying about the EV maker's fourth-quarter earnings. Which fast-food joint has the best coffee?

☆ 18 children injured in blaze at NYC basement daycare
▼ + stars: | 2023-01-26 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

Eighteen children were injured after a fire erupted Wednesday afternoon at a daycare center located in the basement of a home in the Queens borough of New York City, fire officials said. The New York City Fire Department received a call after 2 p.m. Wednesday and found a “heavy fire" at a residence around 72nd and 147th Street. The fire department said a total of 18 pediatric patients were removed from the building, one was in critical condition and hospitalized. @FDNY / InstagramThe fire was under control about 40 minutes after firefighters arrived and was confined to the basement. The NYC Department of Buildings said that inspectors observed two commercial businesses, a daycare and a dental lab, operating in the basement of the two-story, single-family home.

☆ NYC bike path killer convicted, could face the death penalty
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: +5 min

Sayfullo Saipov, the suspect in the New York City truck attack is seen in this handout photo released November 1, 2017. An Islamic extremist who killed eight people with a speeding truck in a 2017 rampage on a popular New York City bike path was convicted Thursday of 28 federal crimes and could face the death penalty. A death sentence for Saipov, a citizen of Uzbekistan, would be an extreme rarity in New York. A federal jury in New York has not rendered a death sentence that withstood legal appeals in decades, with the last execution in 1954. Saipov's lawyers have said the death penalty process was irrevocably tainted by former President Donald Trump, who tweeted a day after the attack that Saipov "SHOULD GET DEATH PENALTY!"

☆ Investing in Space: Doing well to do good
▼ + stars: | 2023-01-26 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. I met up with Planet CFO Ashley Fieglein Johnson here in NYC earlier this month, and one thing she said has really stuck with me: "We have to do well in order to do good." And it's true: Space technologies have changed life around the world in a variety of ways, from GPS to communications and more. "The carrot of being able to do good doesn't tend to survive the nuclear winter of a tough economy," Fieglein Johnson said. Planet's stock slid last year alongside other recently debuted pure-play space companies, but Fieglein Johnson sees the company at a "tipping point" because "awareness of Planet is just at a fundamentally new level."

☆ PE firms' eagerness to recruit junior bankers is blowing up in their faces. Here's why they need to change.
▼ + stars: | 2023-01-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As Insider's Emmalyse Brownstein reports, some PE firms are scrambling to fill positions that, in years past, would have been locked up for months. Some context on PE recruiting: Firms recruit, interview, and make offers to junior bankers well ahead of their actual start dates. Some junior bankers didn't feel comfortable interviewing for a new role when they had barely settled into their current ones. The fact PE firms need to go back to the well to fill open seats should be a wake-up call. Click here to read more about how PE firms' early recruitment of junior bankers backfired.

☆ Julia Fox gave a charming tour of her apartment on TikTok and revealed she lives with two roommates: her son and a mouse
▼ + stars: | 2023-01-26 | by ( Kieran Press-Reynolds | ) www.businessinsider.com time to read: +3 min

Julia Fox gave a tour of her NYC apartment, which fans found to be shockingly "normal." She also said her apartment has a mouse problem, although she joked about how they help clean up crumbs. @juliafox Come with me on a very underwhelming apartment tour! She ends the tour by saying she has a mouse problem, although she's completely unbothered by it. The comments are filled with fans in disbelief that her apartment wasn't as luxurious or ornate as they expected.

☆ A Casino at Saks, Times Square or the U.N.? Companies Pitch NYC Officials
▼ + stars: | 2023-01-25 | by ( Jimmy Vielkind | Katherine Sayre | ) www.wsj.com time to read: 1 min

Gambling companies competing to build a casino in Manhattan, one of the industry’s most coveted untapped markets, face skepticism from officials who would need to approve projects in the heart of the city. Real-estate and casino developers are pitching several sites in midtown Manhattan, including on the top floors of the Saks Fifth Avenue across from Rockefeller Center and in the very heart of Times Square. It’s vital to be near the city center to draw the right mix of tourists and wealthy clients, they said.

☆ Some Google employees didn't realize they were laid off until their badges wouldn't let them into the office
▼ + stars: | 2023-01-25 | by ( Aaron Mok | Kate Duffy | ) www.businessinsider.com time to read: +4 min

A laid-off Google employee saw a co-worker scan his badge to get into the NYC office but the reader kept turning red. The laid-off employee said that his co-worker who tried to badge-in "seemed a little flustered" and that it didn't seem like he was trying to sneak in. Normally, he said, Google employees often quickly show their badges to the guards in front of the elevator and are allowed to take the elevator up to whatever floor they needed to go to. 12,000 employees — 6% of the company's global workforce — were laid off, Google CEO Sundar Pichai wrote in a memo to employees. Are you a current or former Google employee?

☆ It's not all gloom and doom on Wall Street. Here's where finance firms are still hiring.
▼ + stars: | 2023-01-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

For many on Wall Street, those questions are top of mind. Insider's finance team canvassed more than a dozen recruiters to get their takes on the job market. From investment banking to hedge funds to fintechs, here's who's hiring and who's at risk of making more cuts. Click here to read more about the hiring landscape across Wall Street, from banks to hedge funds and fintechs. We've got a list of the best and worst US airlines, according to The Wall Street Journal.

☆ Fox News meteorologist beaten on NYC subway train
▼ + stars: | 2023-01-24 | by ( Uwa Ede-Osifo | ) www.nbcnews.com time to read: +2 min

A Fox News weatherman who was on his way home from a bar early Sunday was assaulted by a group of teenagers on a New York City subway, police said. Four teens beat Adam Klotz, 37, after he asked them to stop smoking marijuana and to stop harassing an elderly passenger, New York City police said. After he was first attacked, Klotz said, he tried to evade the group by going to another subway car. Klotz criticized Mayor Eric Adams, saying the city does not adequately address subway violence. "Why is the weather guy on the train trying to stop crime in the middle of the night?"

☆ Elliott Management's Jesse Cohn just picked his next target for an activist campaign: an ailing software giant
▼ + stars: | 2023-01-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

A battle is on the horizon between Jesse Cohn and Salesforce. But the first rule of activist investing is you HAVE to talk about your activist investment. Jesse Cohn, a managing partner at the hedge fund Elliott Management, is leading his firm's latest activist campaign against troubled tech giant Salesforce via a multibillion-dollar stake. Activist investing, as we've previously covered, is set to be all the rage in 2023. Click here to learn more about Jesse Cohn, a tenacious activist investor who just set his sights on Salesforce.

☆ Chase closes some New York ATMs early because of ‘rising crime’
▼ + stars: | 2023-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Citing “rising crime and vagrancy,” Chase Bank has shuttered 24-hour access to some of its New York ATMs. A JPMorgan Chase (JPM) spokesperson said some other ATMs are closing at 10 pm. New York City mayor Eric Adams addressed the ATM early closures at a press conference Monday. “And that is what I’m saying I need to stop because I don’t want my ATMs closing down. Major retailers have been vocal about surges in theft and “organized retail crime” since the pandemic began.

☆ Ken Griffin has built two of Wall Street's most powerful firms. His next target could be influencing politics.
▼ + stars: | 2023-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Ken Griffin, the founder and CEO of Citadel. It's good to be Ken Griffin. Plenty of people find success on Wall Street that most can only dream of. But Ken Griffin seems to be winning in ways that even his peers can't fathom. Click here to read more about Ken Griffin rise to the top of Wall Street and what could be next for the billionaire.

☆ Law student's family says he went missing after visiting NYC gay bar
▼ + stars: | 2023-01-20 | by ( Nbc New York | ) www.nbcnews.com time to read: +1 min

A New York City law student has been missing for nearly two weeks, and his brother said his last known location was a gay bar in Manhattan’s Hell’s Kitchen neighborhood. Jordan Taylor, 29, a first-year law student at the City University of New York, was reported missing by his family on Jan. 8, according to his brother and the New York City Police Department. According to the NYPD, Taylor was last seen in the borough of Queens, where he resides, on the afternoon of Jan. 6. Like, I don’t want to think about it, but I can’t rule it out either,” he told NBC New York. For the full story, visit NBC New York.

☆ Wall Street succession plans: The case for why all 6 big banks could consider a leadership change this year
▼ + stars: | 2023-01-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Morgan Stanley CEO James Gorman confirmed what everyone already presumed: There are three executives in the running for his job. It turns out you could make the case for every top US bank making a change in leadership, either with or without the consent of their CEO. At 64 years old, he's the second-oldest CEO among the big six US banks. When discussing succession plans with Bloomberg on Thursday, Gorman acknowledged he doesn't want this job forever. And at 63 years old, he's not exactly a spring chicken.

Fanatics is in discussions to acquire the BetParx sportsbook, as the sports merchandising company looks to take a bigger position in sports betting, according to people familiar with the matter. Representatives for Fanatics and BetParx declined to comment. Fanatics has been seeking a deal in the sports betting space for some time. The company is opening Fanatics Sportsbook at FedExField, the stadium of the NFL's Washington Commanders. Last year, Fanatics' billionaire executive chairman Michael Rubin sold his 10% stake in Harris Blitzer Sports Entertainment, the owner of the Philadelphia 76ers and New Jersey Devils, allowing Fanatics to enter the gambling space.

☆ Judge in FTX bankruptcy case rejects motion to remove elite NYC lawyers
▼ + stars: | 2023-01-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —One of America’s elite white-collar law firms has emerged as a contentious figure in the complex FTX saga. A judge ruled that the bankrupt crypto platform could retain Sullivan & Cromwell as legal counsel, overruling objections from FTX customers who accused the firm of conflicts of interest. Then FTX’s former top lawyer supported the motion in a court filing, which included additional allegations that one of his former colleagues improperly funneled FTX business to Sullivan & Cromwell. Friedberg alleged that that lawyer funneled business to Sullivan & Cromwell, hoping to curry favor with the firm to which he hoped to eventually return. Earlier this month, a group of US senators also raised objections to Sullivan & Cromwell’s participation in the FTX bankruptcy.

☆ A former equities trader who now invests in real estate full-time and cash flows $45,000 per month explains why 'the risk-reward is much more attractive on real estate than stocks'
▼ + stars: | 2023-01-19 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

He believes that real estate is much better from a risk-reward standpoint than stocks. With real estate, there are four ways to make money, including cash flow and levered appreciation. "And I'm supremely confident that real estate is much better from a risk-reward standpoint than stocks. And he's only doubled down on the investment, he added: More than 80% of his current net worth is invested in real estate. Plus, he manages two funds that invest in commercial real estate, both of which he owns a piece of.

☆ Blackstone is predicting steady growth for its real-estate business, which could be bad news for its tenants
▼ + stars: | 2023-01-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Now imagine if your landlord wasn't just some mom-and-pop family that owned your building, but the world's largest private-equity firm. And while it's received a fair share of scrutiny over it, the performance of one of its real-estate funds has reignited criticism. But the Blackstone executives' comments indicated the firm could also be planning to raise rent and evict tenants, which includes those in affordable housing and student housing. Click here to read more about how Blackstone's real-estate strategy is setting the stage for an ugly battle with tenants. Top executives at Davos share their thoughts on how bad things might get in 2023.

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