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MOTT STREET: A Chinese American Family’s Story of Exclusion and Homecoming, by Ava ChinOld family stories are hard to revivify, even when they’re good family stories. This is the problem Ava Chin is up against in her sensitive, ambitious, well-reported, heavily peopled yet curiously remote memoir-cum-history, “Mott Street: A Chinese American Family’s Story of Exclusion and Homecoming.” It’s a book that has everything going for it except that intangible spark that crisp and confident storytelling throws off. The air is a bit still in this book, as if one is walking behind the docent on a long museum tour. Chin’s memoir takes its title from the narrow north-south road in Manhattan’s Chinatown that’s generally thought of as its Main Street, to which Chin’s family has a long and intricate and prosperous connection. When she’s on Mott Street, Chin feels she’s at home — except when she feels like an out-and-out alien (she can’t decide) because she and her mother were abandoned by her father and driven from the home place.
Bed Bath & Beyond is confident it can offload its names and stores after it declared bankruptcy, but shareholders are expected to be wiped out as its stock plummets. "Bed Bath & Beyond has pulled off long shot transactions several times in the last six months, so nobody should think Bed Bath & Beyond will not be able to do so again. To the contrary, Bed Bath & Beyond and its professionals will make every effort to salvage all or a portion of operations for the benefit of all stakeholders," she added. The likelihood of finding a buyer will come down to how much Bed Bath and Buy Buy Baby's names are worth. As of late November, Bed Bath & Beyond had about $4.4 billion in assets and $5.2 billion in debts, court filings show.
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The VanEck Morningstar Wide Moat ETF has enjoyed strong gains with this strategy. Much like the stocks it targets, the VanEck Morningstar Wide Moat ETF (MOAT) doesn't have much competition. A focus on companies with economic moats, combined with low competition, has helped the MOAT ETF grow to $7.6 billion in assets since its inception in April 2012. It uses fundamental, bottom-up research from the team that compiles Morningstar's Wide Moat Focus Index to target high-quality companies that are set to outperform. "It doesn't stop at just finding a company that has established a competitive advantage," Rakszawski told Insider.
It would have erased the holding company Credit Suisse Group, along with the parent bank Credit Suisse AG and its branches, while retaining the Credit Suisse (Schewiz) AG entity because of its "systemic importance." "The parent bank Credit Suisse AG would have gone under – a Swiss bank with total assets of over CHF 350 billion and ongoing business also running into many billions," Angehrn warned. Many other Swiss banks would probably have faced a run on deposits, as Credit Suisse itself did in the fourth quarter of 2022." Angehrn said the regulator has been in recent dialogue with the U.S., but did not experience international pressure in its supervision of Credit Suisse. The authorities would have risked not stopping a looming financial crisis by using the tool of resolution, but rather triggering such a financial crisis."
NEW YORK, March 24 (Reuters) - A U.S. judge on Friday ordered former Goldman Sachs Group Inc (GS.N) banker Roger Ng to forfeit $35.1 million, after sentencing him to 10 years in prison for helping loot billions of dollars from Malaysia's 1MDB sovereign wealth fund. Jho Low, a Malaysian financier and suspected mastermind of the scheme, was also indicted but remains at large. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Former Malaysian Prime Minister Najib Razak is serving a 12-year prison sentence after being convicted in a Malaysian court of receiving $10 million from a former 1MDB unit. Reporting by Luc Cohen and Jonathan Stempel in New York; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.
Software firm CEO Ravi Bhatt moved his family from Chicago to Bloomington, Indiana, in 2021. In the spring of 2021, my family and I moved to Bloomington, Indiana, a Midwestern city of 85,000 people, home to Indiana University Bloomington. What made the area attractive to us was that Indiana University Bloomington is a major research university. Bloomington, Indiana. A lot of people are stressed out about work and think life will become easier once they get out of the big city.
New York CNN —Wall Street can seem bewildering, given its sheer amount of jargon, banking terms, and acronyms. When a bank fails, the standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Deposits, withdrawals and bank runsDeposits are cash you put into your bank account, and withdrawals are money that’s taken out. Though it’s pretty rare to enact it, the FDIC used this exception to take over SVB and Signature Bank last week. Discount windowThis is the Fed’s main way to directly lend money to banks and provide them more liquidity and stability.
But as concerns mount that the Federal Deposit Insurance Corporation will take receivership of troubled First Republic Bank, potentially the third US bank to fail after the collapse of Silicon Valley Bank and Signature Bank, the business of finance has become a national concern. When a bank fails, the standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Deposits, withdrawals and bank runsDeposits are cash you put into your bank account, and withdrawals are money that’s taken out. Loan-to-deposit ratioIf a bank has a ratio above 100% (like First Republic), then it loans out more money than it has deposits. Though it’s pretty rare to enact it, the FDIC used this exception to take over SVB and Signature Bank.
Factbox: Biden budget targets U.S. fossil fuel subsidies
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +4 min
Here are some details about U.S. fossil fuel subsidies:HOW MUCH ARE THEY WORTH? Axing the subsidies would save the government nearly $31 billion over 10 years, Biden's fiscal year 2024 budget proposal says. Before taking office, Biden promised to get rid of fossil fuel subsidies as part of a multi-pronged effort to fight climate change that also included ending new drilling on public lands. For one, they require an act of Congress, and Republicans and some Democrats oppose the removal of fossil fuel subsidies. The International Energy Agency estimated that so-called consumption subsidies for fossil fuels doubled in 2022 to $1 trillion globally.
Factbox: Biden budget to target U.S. fossil fuel subsidies
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +3 min
Here are some details about U.S. fossil fuel subsidies:HOW MUCH ARE THEY WORTH? Calculating the cost of U.S. subsidies for the fossil fuel industry is complex because the incentives stretch across the U.S. tax code, but estimates range from $10 to $50 billion per year. Before taking office, Biden promised to get rid of fossil fuel subsidies as part of a multi-pronged effort to fight climate change that also included ending new drilling on public lands. For one, they require an act of Congress, and Republicans and some Democrats oppose the removal of fossil fuel subsidies. The International Energy Agency estimated that so-called consumption subsidies for fossil fuels doubled in 2022 to $1 trillion globally.
Those companies now qualify for a bigger tax break for exports because of the way the research-deduction change alters their tax calculations. Photo: Dado Ruvic/REUTERSModerna saw that tax break jump to a 7.4 percentage-point benefit on its tax rate from 4.8 points in 2021, even as its cash tax payments rose. The change requiring companies to spread out research deductions was part of the 2017 tax law, and it was designed to partly offset the revenue loss from cutting corporate tax rates. PREVIEWAt the same time, the smaller research deduction means many companies can get a bigger advantage from the export tax break. The size of the FDII tax break is based in part on how much income a company has.
Dominion claims Rupert Murdoch shared info about Biden ads with Trump's campaign in 2020. "During Trump's campaign, Rupert provided Trump's son-in-law and senior advisor, Jared Kushner, with Fox confidential information about Biden's ads, along with debate strategy (providing Kushner a preview of Biden's ads before they were public)," Dominion's lawyers alleged in the filing. "If the allegations are true, this is precisely what Murdoch provided to the Trump campaign," he said. After Trump lost, Murdoch shifted attention to two runoff elections in Georgia for US Senate seats. "My friend Jared Kushner called me saying, 'This is terrible,' Murdoch wrote.
"That is more visitors than the year before the COVID pandemic," said the spokesman, Patrick Haumont. "For two years in a row, there was no carnival and people missed all this, they missed the carnival, they missed the party." On reaching the town's main square for the parade's big finale, the Gilles don elaborate ostrich feather hats weighing several kilograms. Pierrots, sailors, harlequins and peasants follow in the procession, small bells sewn to their costumes ringing as local brass bands play the streets. Additional reporting by Clement Rossignol and Bart Biesemans, Writing by Gabriela Baczynska; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
[1/2] An attendee exits the Bombardier Global 6500 business jet at the National Business Aviation Association (NBAA) exhibition in Las Vegas, Nevada, U.S. October 21, 2019. REUTERS/David Becker/File PhotoFeb 9 (Reuters) - Canada's Bombardier Inc (BBDb.TO) on Thursday forecast higher business jet deliveries for 2023, after strong demand for private flying drove its quarterly results above expectations despite persistent supply-chain snags. Cessna jet maker Textron Inc (TXT.N) had also offered a strong 2023 forecast last month. It forecast 2023 revenue of more than $7.6 billion, compared with estimates of $7.69 billion, according to Refinitiv data. Free cash flow is expected to be over $250 million, compared with last year's $735 million.
Standards Setter Floats New Rule on Crypto Accounting
  + stars: | 2023-02-01 | by ( Mark Maurer | ) www.wsj.com   time to read: +1 min
The Financial Accounting Standards Board voted to propose a new rule on cryptocurrency accounting and disclosure, creating new guidance for companies holding these assets and providing more details to investors. The U.S. has no specific accounting or disclosure rules for crypto assets. ​​The FASB, which sets accounting standards for U.S. public and private companies, on Wednesday said it would issue a proposal that would require businesses to use fair-value accounting for bitcoin and other crypto assets. PREVIEW Companies and accountants had long pushed for this move, as it would allow them to recognize losses and gains immediately, and treat digital assets as financial assets instead of as indefinite-lived intangible assets. Businesses currently classify crypto assets as indefinite-lived intangible assets, similar to intellectual property such as trademarks.
Stocks are off to a hot start for the year, and Bank of America analysts think some buy-rated names in their coverage universe can carry that momentum through the rest of 2023. Still, Bank of America asked its analysts to break down their top picks for 2023. "Upside risks are if the commercial aerospace and business aviation jet recoveries are better than expected, earnings could fare better than our projections," Bank of America noted. Bank of America has a price target of $120 per share, implying upside of about 20% from Monday's close. Domino's Pizza The world's largest pizza delivery company was chosen by Bank of America due to its promising growth potential.
We've also invested heavily in women's boxing. You are starting to see real, meaningful growth in women's sport now and that comes in different forms. The professionalism of the production in women's sport, we've been central to driving that forward. In the US, boxing fans in this country are disproportionately Hispanic relative to the wider population. The real business for us is the ongoing monthly subscription relationship that we have with boxing fans in this country, or soccer fans in Germany or Italy, and baseball fans in Japan.
Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.
And through it all, I didn't get fired, there was no formal reprimand, and I got paid the entire time. Sabbaticals provide a proactive hedge against employee burnout, an antidote for attrition, and a protection from career wanderlust. Some employers argue that offering paid time off won't help keep employees around, but my sabbatical made me more passionate about my work — and my workplace — than ever. I love my job and want to be sure my team and clients get the best of me. Sabbaticals are good for businessMy sabbatical wasn't an anomaly — research shows that sabbaticals help employees fight burnout and improve their well-being.
That led hundreds of election deniers to run for offices across the country in 2022. But in 2022, American democracy became an issue outside the political norm for voters’ consideration. But it wasn’t just the outcome of the election that signaled that our democracy was still holding on in 2022. Thankfully, the majority of them did, with the exception of professional election deniers like Kari Lake, who lost the Arizona governor’s race to Katie Hobbs. Not since the tumultuous political climate of the 1930s has American democracy faced such a perilous era.
House bows are becoming a popular way for real-estate agents to add pizzazz to newly sold homes. House bows are often purchased by local realtors to celebrate closings or drum up interest in a property, and by particularly spendy gifters looking to surprise their family members or spouses with a new abode. King Size BowsSteven Rosenfield, the owner of Giant Bows in Old Lyme, Connecticut, has observed a similar bump in business. Hughes charges around $600 plus shipping for an average 6-foot, two-loop house bow. A King Size Bow used for decoration.
When it comes to effective results as a leader, she says it's all about the "human stuff." Prioritize the human, be present with them, and see them, and create guardrails, agreements for performance, and clear expectations. If your intentions are clean and you're focusing on the right things, the truth works just great. Save yourself a ton of time, energy, and bandwidth to focus on the right things — as opposed to posturing, pretending, and evading hard truths. She's the author of "Contagious You: Unlock Your Power to Influence, Lead, and Create the Impact You Want."
There are currently no specific accounting or disclosure rules for crypto assets in the U.S. Businesses classify them as indefinite-lived intangible assets, similar to intellectual property such as trademarks. Then, in October, it said companies should use fair-value accounting to measure bitcoin and other crypto assets. For example, companies could receive payment from customers in the form of crypto assets that are prohibited from sale for three months. These companies disclose information about large crypto holdings, but potentially not the full picture.
The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. US District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. Kardashian agreed in October to pay the SEC $1.26 million to settle claims that she failed to disclose she was paid to promote EthereumMax tokens.
The lawsuit filed in January claims EthereumMax executives schemed with celebrity promoters to induce investors to buy the EMax token, driving up its price and allowing them to sell their own tokens at a profit. U.S. District Judge Michael Fitzgerald in Los Angeles said that the investors may amend and refile their proposed class action. In Wednesday’s ruling, Fitzgerald said that investors had failed to show that the executives and promoters schemed to mislead investors, rather than acting in their own self-interest. The investors’ fraud claims failed because they had not stated whether or when they saw the promotions, the judge wrote. While the investors may revise those claims, Fitzgerald permanently dismissed their claim under California’s consumer protection law, which he said applies to tangible goods and services, not “intangible goods” such as cryptocurrency.
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