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[1/2] A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2022. REUTERS/Brendan McDermidMarch 21 (Reuters) - GameStop Corp (GME.N) on Tuesday posted a surprise profit for the fourth quarter, its first since early 2021, as lower costs and job cuts padded the videogame retailer's bottom line, sending its shares nearly 50% higher in extended trading. The retailer posted an adjusted profit of 16 cents per share, compared with Wall Street expectations for a loss of 13 cents. The so-called "meme stock", which is the top trending ticker on retail trader forum Stocktwits, has declined 4% this year. Net profit for the quarter ended Jan. 29 was $48.2 million, compared with a loss of $147.50 million a year earlier.

☆ Big Mac prices are up: Here's how much you'll pay for McDonald's signature sandwich state by state
▼ + stars: | 2023-03-20 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

You might be better off sticking to the Dollar Menu on your next visit to McDonald's. A recent study shows that price of the fast food chain's flagship Big Mac sandwich is hitting new highs. CashNetUSA reviewed Big Mac prices in all 50 states to determine where customers pay the most and pay the least for the iconic burger with two all beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun. The most expensive Big Mac in the United States can be found in Hawaii, where it will run you $5.31 — a long way from its 1967 debut price of 45 cents. This is how much a Big Mac will cost you across the country.

☆ Price hikes are double whammy for pet owners who are crushed by inflation
▼ + stars: | 2023-03-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

Minneapolis CNN —As head of PAWS Atlanta, Joe Labriola can get a good sense of the region’s economic well-being from the day-to-day activity of the city’s oldest no-kill animal shelter. And the shelves at PAWS Atlanta’s Pet Food Pantry quickly go bare. She said her pet food costs for Lola, her Australian Shepherd mix, and for Phoebe, her Golden Retriever, have doubled to $250 per month. Josh Fiala, Animal Rescue League of Iowa's Pet Support Services Manager, helps load pet food into a vehicle during a Pet Food Pantry in January 2022. Courtesy Animal Rescue League of IowaARL gave out about 40,000 pounds of pet food in both 2020 and 2021.

☆ Citadel accelerates hiring push in Hong Kong and London
▼ + stars: | 2023-03-17 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

HONG KONG, March 17 (Reuters) - Miami-based Citadel has kicked off 2023 with multiple senior hires in London and Hong Kong to beef up its international equities team, after the firm became the world's most profitable hedge fund in 2022, profile updates on LinkedIn show. He previously worked as head of Asian Research of Florida-based hedge fund giant Lighthouse for more than seven years. After working for UBS investment bank for more than 16 years, Keith Donan also moved to Citadel in Hong Kong this month as a senior trader. Citadel's international equities team is a multi-manager business focusing on opportunities in Europe and Asia. Led by Sean Salji in London, the team has over 80 investment professionals in London, Hong Kong, Singapore and Paris.

☆ A SkyWest flight attendant burst into tears after arguing with a colleague over a seat change, then both stormed off the plane, report says
▼ + stars: | 2023-03-16 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A SkyWest flight from Houston to LA was delayed after two flight attendants deplaned, per The Hill. A passenger on the flight said the crew members had an argument, causing one to burst into tears. The passenger was ESPN anchor Ashley Brewer, who said the male flight attendant approved the seat change, while the female flight attendant said it wasn't allowed under the airline's policy, per The Hill. The male flight attendant started to yell and the female flight attendant burst into tears and ran to the front of the plane, Brewer said, per The Hill. SkyWest did not immediately respond to Insider's request for comment, but in a statement provided to Nexstar Media Group, which publishes The Hill, it said that it was aware of reports regarding a "flight attendant issue."

☆ Fed to Consider Tougher Rules for Midsize Banks After SVB, Signature Failures
▼ + stars: | 2023-03-15 | by ( Andrew Ackerman | ) www.wsj.com time to read: 1 min

The U.S. Treasury building in Washington, D.C.WASHINGTON—The Federal Reserve is rethinking a number of its own rules related to midsize banks following the collapse of two lenders, potentially extending restrictions that currently only apply to the biggest Wall Street firms. A raft of tougher capital and liquidity requirements are under review, as well as steps to beef up annual “stress tests” that assess banks’ ability to weather a hypothetical recession, according to a person familiar with the latest thinking among U.S. regulators. The rules could target firms with between $100 billion to $250 billion in assets, which at present escape some of the toughest requirements.

☆ Berkshire Hathaway to beef up risk disclosures following SEC request
▼ + stars: | 2023-03-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In correspondence made public on Tuesday, the SEC's division of corporate finance asked Berkshire to "enhance" its risk management disclosures in its annual proxy filings, and Berkshire agreed to make the requested changes. It also asked Berkshire to address whether its lead independent director can override Buffett on risk matters or ask the board to consider them. The SEC made its requests in a Sept. 2, 2022 letter, and Berkshire Chief Financial Officer Marc Hamburg agreed to them six days later. Berkshire also does not hold analyst calls, and communicates to the public mainly through financial disclosures, its annual meeting and Buffett's annual shareholder letter. He has also said Berkshire's disclosures are sufficient, and many businesses are too small to merit lengthy discussion.

☆ The Next Frontier in Farming? The Ocean.
▼ + stars: | 2023-03-15 | by ( Somini Sengupta | ) www.nytimes.com time to read: +10 min

For centuries, it’s been treasured in kitchens in Asia and neglected almost everywhere else: Those glistening ribbons of seaweed that bend and bloom in cold ocean waves. Far beyond South Korea, new farms have cropped up in Maine, the Faroe Islands, Australia, even the North Sea. But even as its champions see it as a miracle crop for a hotter planet, others worry that the zeal to farm the ocean could replicate some of the same damages of farming on land. “Seaweed is not going to replace all plastic, but seaweed combined with other things can tackle single use plastic,” he said. Seaweed farms are a far cry from the rows of corn and wheat that make up monoculture farming on land.

☆ Inflation tops 100% in Argentina as the price of beef spikes
▼ + stars: | 2023-03-15 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Inflation topped 100% in Argentina last month, according to official data published Tuesday. The country logged a three-digit inflation rate for the first time in over 30 years in February. Food prices jumped 10% month-on-month, with beef costs up over 30% in one region. It's the first time since 1991 that Argentina has logged inflation of over 100%, according to Bloomberg data. That surge came despite Argentina's economy ministry's introduction last month of a price control program aimed at slashing the price of popular beef cuts.

☆ Fed to consider tougher rules for midsize banks after SVB, Signature failures -WSJ
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - U.S. Federal Reserve is reconsidering its regulations regarding midsize banks which could potentially mean expansion of existing restrictions that currently only affect larger Wall Street firms, the Wall Street Journal reported on Tuesday. Regulators were forced to announce relief measures on Sunday, reassuring customers that all the deposits from both the banks would be covered. The Fed also announced a new facility to give banks access to emergency funds, in a bid to calm broader fears in the market. According to the newspaper, the revised rules could target firms with between $100 billion to $250 billion in assets. The Federal Reserve did not immediately respond to Reuters request for comment.

☆ Southwest to upgrade crew-scheduling software, hire more staff during winter
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Southwest Airlines Co (LUV.N) said on Tuesday it would upgrade its crew scheduling software and hire more staff in the winter, as the airline attempts to address problems that had led to large-scale cancellations during the holiday season. The Dallas-based carrier has come under fire ever since bad weather during the Christmas holidays left staff stranded across the country, which overwhelmed its crew scheduling software, disrupting travel plans for two million customers. The three-part plan was developed by the airline with inputs from aviation consultancy Oliver Wyman, which was hired to investigate the disruption. The plan looks at bolstering operations during the winter season, when chances of weather-related disruptions to travel-related services are high. "Work is well underway in implementing action items to prepare for next winter - with some items already completed," Jordan said.

☆ Grocery prices: Eggs are finally getting cheaper in the grocery store
▼ + stars: | 2023-03-14 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —Grocery prices rose slightly last month, but eggs are finally getting cheaper in the supermarket. In February, egg prices fell 6.7% compared to January, according to seasonally adjusted data released Tuesday by the Bureau of Labor Statistics. In the 12 months through February, egg prices rose 55.4%. The difference was even more pronounced when looking just at grocery prices, which rose 10.2%. Menu prices, which also factor into overall food inflation, rose 8.4% throughout the year.

☆ Studio A24 captures Oscar spotlight with big wins for best picture, acting
▼ + stars: | 2023-03-13 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +7 min

LOS ANGELES, March 13 (Reuters) - Independent studio A24 was the big winner at Sunday's Academy Awards, taking nine awards out of its 18 nominations, including best picture and all four acting prizes. The studio's "Everything Everywhere All at Once" won seven Oscars, the most of the evening, including best picture. However, Brendan Fraser took the best actor prize for A24's "The Whale," which also won for best makeup and hairstyling. Not since the heyday of Miramax in the 1990s has an independent studio garnered such attention, talent and box office success, entertainment industry insiders say. EVERYTHING EVERYWHEREThe first film A24 produced and financed, together with Brad Pitt’s Plan B Entertainment, was “Moonlight,” which won the Oscar for best picture in 2017.

☆ Who will step up to buy SVB? The white knight might be a bank outside Wall Street.
▼ + stars: | 2023-03-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

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.

☆ ‘Everything Everywhere All at Once’ studio A24 captures Oscar spotlight
▼ + stars: | 2023-03-10 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +6 min

LOS ANGELES, March 10 (Reuters) - A24, the independent studio behind such films as “Everything Everywhere All at Once” and "The Whale," is poised to dominate this year’s Academy Awards, eclipsing Hollywood’s established studios and awards-hungry streamers that are spending millions on Oscar campaigns. Not since the heyday of Miramax in the 1990s has an independent studio garnered such attention, talent and box office success, entertainment industry insiders say. EVERYTHING EVERYWHEREThe first film A24 produced and financed, together with Brad Pitt’s Plan B Entertainment, was “Moonlight,” which won the Oscar for best picture in 2017. The studio has garnered 53 Oscar nominations in less than a decade, including best picture nods for “Lady Bird, “Minari” and “Room.”A24's film slate has grown at the pace of its cash flow - starting with three movies in 2016 to 15 in 2022. This year, it’s on track to produce about 15 films for theatrical release, eight documentaries and 10 television shows.

☆ The head of investment strategy at BlackRock's $2.2 trillion iShares Americas unit explains why the stock market has already hit its low — and lays out the 5 ways to invest now
▼ + stars: | 2023-03-10 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

But Chaudhuri believes that stocks won't hit their 2022 lows, and that any slowdown will be mild. On the other hand, the US economy has shown signs of strength so far this year, and Chaudhuri believes that when a slowdown finally comes, it'll be both relatively mild and predictable. Within the bond market, Chaudhuri specifically recommends investors use a barbell strategy to gain exposure to both ends of the yield curve. As for the equity market, Chaudhuri said that from a historical perspective, value stocks generally outperform in a macroeconomic regime characterized by higher inflation and rates. Another benefit of value stocks is that they are currently trading more cheaply than their growth counterparts.

☆ TikToker shows people how to live off Dollar Tree groceries that cost $35 a week as Americans flock to dollar stores for cheaper food
▼ + stars: | 2023-03-09 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +5 min

More people are shopping for food at dollar stores as inflation bites and food prices soar. Dollar Tree Dinners, a TikTok page run by Rebecca Chobat, shows shoppers how to cook on a budget. Chobat says it's possible to eat a varied weekly diet using $35 worth of Dollar Tree groceries. According to a recent report from Coresight Research, Dollar Tree, and Dollar General ranked in the top five retailers from which consumers bought food in 2022. Dollar Tree stores have mostly sold non-perishable items in the past.

☆ Brazil's agriculture chief plans China trip to discuss lifting beef export suspension
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: 1 min

BRASILIA, March 8 (Reuters) - Brazil's Agriculture Minister Carlos Favaro said on Wednesday he will move forward a planned trip to China to later in March as Latin America's largest economy aims to resume beef exports halted by a case of mad cow's disease. Favaro said he would visit China ahead of President Luiz Inacio Lula da Silva's March 28 scheduled visit. Shipments of beef to China were suspended following the confirmation of an atypical case of mad cow disease in the Brazilian state of Para in February. The Brazilian government expects to resume beef exports to China in the next few days and is planning to request a revision of the protocol that triggered the ban, a government official said on Tuesday. Reporting by Victor Borges; Writing by Carolina Pulice; Editing by Lincoln Feast.

☆ Campbell Soup lifts sales outlook as Americans keep snacking
▼ + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Markets are pricing in higher odds of a bigger Fed rate hike this month as Powell delivers hawkish testimony and key bond yields top highest level since 2007
▼ + stars: | 2023-03-07 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Fed funds futures pricing suggests 61.6% odds of a half-point increase, up from 31.4% on Monday. Getting inflation back to 2% "is likely to be bumpy," Fed Chair Jerome Powell told senators. There's a 61.6% probability the Fed will raise its benchmark rate by 50 basis points on March 22, according to the CME FedWatch tool tracking fed funds futures pricing. The slowdown followed four straight increases of 75 basis points. The probability for a move of 25 basis points were still larger, at 56.3%.

☆ YouTube, Facebook and Instagram Gave Platforms to Indian Cow-Protection Vigilante
▼ + stars: | 2023-03-06 | by ( Jeff Horwitz | Newley Purnell | ) www.wsj.com time to read: 1 min

Demonstrators last month protested the suspected killing of two youths whose relatives said they had been abducted and killed for alleged cow smuggling. Monu Manesar , the alias of an Indian cow-protection influencer, has spent the past six years documenting his personal war against cattle smugglers on YouTube, Facebook and Instagram. In openly violent posts that often clashed with the platforms’ stated content policies, his accounts livestreamed car chases of men suspected to be transporting beef or cows—an animal deeply revered in Hinduism. He and fellow vigilantes filmed themselves ramming vehicles, shooting out truck tires and trading gunfire with alleged smugglers. The posts included anti-Muslim slurs and trophy photos of captives bleeding from the head.

☆ Tech Giants Are Chipping In Fast on AI
▼ + stars: | 2023-03-06 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Broadcom said it has seen a jump in demand from customers seeking to enhance their networks for generative AI. Tech giants are moving fast on artificial intelligence, even if they have to hit the brakes elsewhere. The latest confirmation of that trend came from an unexpected source. Broadcom , a chip maker most commonly associated with radio-frequency components used in the iPhone, used its fiscal first-quarter results late last week to discuss the increase in business it is seeing from customers scrambling to beef up their networks for generative AI—the technology made popular by the ChatGPT chatbot tool that Microsoft is now wrapping into its Bing search engine to take on rival Google. Google is responding by working to integrate its own generative AI technology into its search tool.

☆ Gourmet fish bladder races chicken, beef to profitability in Singapore's lab meat push
▼ + stars: | 2023-03-06 | by ( Chen Lin | ) www.reuters.com time to read: +5 min

Two years after Singapore greenlighted lab-grown meat for human consumption, mass production has yet to start. The technological, regulatory and scale barriers to entry for cultivated meat are very high compared to plant-based meat, said Didier Toubia, chief executive of Israel's Aleph Farms, which makes cultivated beef steak. "It's too high and it's embarrassing ... We lose money every time someone enjoys our cultivated chicken," Eat Just CEO Josh Tetrick said. Hong Kong-based Avant Meats is more bullish than Eat Just, with ambitions to make a premium food, cultivated fish maw. Fish maw is the swim bladder of a fish, a delicacy prized in China that could fetch up to thousands of dollars per kilogram, depending on its grade.

☆ China's defence spending increases have been 'reasonable' - parliament spokesman
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

BEIJING, March 4 (Reuters) - China's defence spending as a share of gross domestic product has been kept basically stable for many years, with the increases "moderate" and "reasonable", the spokesman of the country's parliament said on Saturday. "The modernisation of China's military will not pose a threat to any country," Wang Chao, spokesman for the National People's Congress, told reporters. Wang was asked at a news conference by how much China's defence budget would increase this year, and whether any increase would be larger than in previous years. The spending figure will be officially unveiled in the national budget to be released on Sunday at the start of this year's annual meeting of parliament. China staged war games near Taiwan in August to express anger at the visit to Taipei of then-U.S. House Speaker Nancy Pelosi.

☆ Investigation-wary CPAC attendees urge House Republicans to avoid getting wrapped up in settling old political scores: 'Today's not the day to go back and cry about it'
▼ + stars: | 2023-03-04 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Insider asked Conservative Political Action Conference attendees about House GOP investigations. House Republicans created a new "weaponization" panel designed to explore their "deep state" conspiracy theories, while other standing committees are jumping all over Trump-era grievances like the southern border to try and orchestrate viral moments. CPAC attendees who told Insider they supported the House GOP's oversight crusade were all over the place in terms of their preferred targets. "I didn't send you to impeach the president," Yadeta said of his frustration, adding that Raskin should have tackled local issues like homelessness and job creation. "I hope we don't just get bogged down with a bunch of investigations where nothing comes out," he told Insider.

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