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☆ After prison, getting banking services is hard. This startup wants to change that.
▼ + stars: | 2023-05-15 | by ( Paige Hagy | ) www.businessinsider.com time to read: +6 min

FRSH is a banking solution for the formerly incarcerated community. "We are justice-impacted and we know this is the best solution," Sam told Insider. FRSH offers banking products and services to help returning citizens — those who have been released from jails and prisons, per the US Department of Justice — establish financial stability. Sam, Daniel Feldman, and Chris Heckler, all of whom were formerly incarcerated, founded the fintech. The startup also trains caseworkers and case managers to teach financial-education courses and offer FRSH as a banking solution for returning citizens.

☆ Holy cow! Endangered seal draws dozens to Jaffa shore
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

[1/4] An endangered and rare female Mediterranean monk seal visits the shore of Jaffa in Israel, May 15, 2023. REUTERS/Amir Cohen TPX IMAGES OF THE DAYJAFFA, Israel, May 15 (Reuters) - An endangered Mediterranean monk seal swam onto a beach in Jaffa, south of Tel Aviv, to rest on the beach and shed her skin, drawing an excited crowd to watch. The female seal, or cow, was named Yulia by the boy who found her before notifying the Nature and Parks Authority. She will likely stay for a few days until she has finished shedding her skin, marine ranger Harel Baz said. The global Mediterranean monk seal population is estimated at between 400 and 500, placing it among the rarest marine mammals, Baz said.

☆ China's recovery lifts U.S. companies' sales as domestic consumers pull back spending
▼ + stars: | 2023-05-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

U.S. companies are reporting that demand in China is returning, boosting their sales at a time when many U.S. consumers are pulling back their spending. Starbucks reported that its same-store sales in China rose 3% in its latest quarter, reversing their declines. Some Wall Street analysts were still anticipating shrinking same-store sales for the company's second-largest market. That quarter, Starbucks' same-store sales in China sank 23%. Yum China , Yum Brands' master franchisee in China, also said its same-store sales grew 8% in the first quarter.

☆ Politics, Police, Pozole: The Battle for Sunset Park
▼ + stars: | 2023-05-14 | by ( John Leland | Lexi Parra | ) www.nytimes.com time to read: +1 min

For Sonia Cortes, the battle for Sunset Park began with soup. Two years ago, after the pandemic wiped out her job as a seamstress, Ms. Cortes started selling pozole, a brothy Mexican soup, in the park, a 25-acre swath of green in southwestern Brooklyn. By last fall, the Sunday market had grown to more than 80 vendors, mostly immigrant women selling Mexican street food and wares to large weekend crowds. They called it Plaza Tonatiuh, after an Aztec sun god. On Easter Sunday, dozens of officers clashed violently with vendors and organizers, who locked arms in resistance.

☆ Platypus returns to Australian national park for first time in half a century
▼ + stars: | 2023-05-13 | by ( James Redmayne | ) www.reuters.com time to read: +2 min

[1/5] A platypus is released by CEO of Taronga Zoo Cameron Kerr and Scientists back into Sydney's Royal National Park for the first time in over fifty years, in Sydney, Australia, May 12, 2023. ... Read moreSYDNEY, May 14 (Reuters) - The platypus, a species unique to Australia, was reintroduced into the country’s oldest national park just south of Sydney on Friday in a landmark conservation project after disappearing from the area more than half a century ago. Four females were released on Friday into the Royal National Park, which was established in 1879 and is the second oldest national park in the world. No confirmed platypus sightings have been reported in the park, located about 35 kilometres or one hour’s drive south of Sydney, since the 1970s. The platypuses, which live along Australia's east coast and in Tasmania, were collected from various locations across south-eastern New South Wales state and subjected to various tests before relocation.

☆ Debt ceiling crisis hangs over markets, with investors hoping to avoid a repeat of 2011
▼ + stars: | 2023-05-13 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +8 min

Republicans, led by House Speaker Kevin McCarthy, want to attach spending cuts to any agreement to raise the debt ceiling. Biden and the Democrats say they are willing to talk about spending cuts but only outside the debt ceiling discussions. Raising the debt ceiling would allow the government to pay for spending that has already occurred. That year, the debt ceiling was raised at the last minute but not before a summer of bickering sent the S & P 500 down 17% from late July to mid-August. The market this past week stumbled with the debt ceiling deadline looming and over concern about regional bank failures.

☆ Pickleball is replacing Bed Bath & Beyond and Old Navy at malls
▼ + stars: | 2023-05-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Pickleball is coming to your local mall, replacing shuttered Bed Bath & Beyond, Old Navy, and Saks Off 5th stores. Malls need new tenants to fill vacant spaces and draw customers beyond their traditional department store anchors and clothing stores. Backers of the game and developers are desperate to find vacant spaces to build courts. The Meadows at Lake Saint Louis, an outdoor mall, plans to fill the space once occupied by Bed Bath & Beyond with a pickleball club. A pickleball facility recently opened in a former Burlington store space at Shore Mall in New Jersey, and a pickleball club took over an Old Navy space at a New Hampshire mall.

☆ The real reasons stores are closing in big cities
▼ + stars: | 2023-05-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

These big chains and others have closed stores in major US cities recently, raising alarm about the future of retail in some of the country’s most prominent downtowns and business districts. How policymakers remake their downtowns — with retail as a crucial attraction — will be crucial to cities’ fiscal health and regional economies. People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

☆ Here’s how much money you’d have if you invested $1,000 in Disney 10 years ago
▼ + stars: | 2023-05-11 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Disney is bringing back two fan favorites in order to "improve the guest experience" at its Florida parks, the company said. Starting Jan. 9, 2024, date-based tickets, the Walt Disney World Resort's standard ticket option, will no longer require guests to make an additional reservation at specific theme parks. However, a theme park reservation may still be required for other admission types, including non-dated tickets, Disney said. Additionally, beginning Jan. 9, 2024, Disney is bringing back its popular dining plan option for guests who stay at Disney Resort hotels and purchase vacation packages with the company. Theme parks accounted for about $5.5 billion of that revenue.

[1/2] Walt Disney Co. CEO Bob Iger poses on the champagne-colored red carpet during the Oscars arrivals at the 95th Academy Awards in Hollywood, Los Angeles, California, U.S., March 12, 2023.... Read moreMay 10 (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Iger on Wednesday accused Florida politicians of retaliating against the company and questioned the state's interest in the entertainment conglomerate's continued investment in Walt Disney World. It plans to invest $17 billion over the next decade expanding Walt Disney World. And by the way, we pay them above the minimum wage, substantially above the minimum wage dictated by the state of Florida," Iger said in remarks made during the company's quarterly investor call. He said Disney has been forced to file a lawsuit in federal court to protect its business interests. Iger disputed that, noting some 2,000 special districts exist in Florida to foster development and that "we were one of them."

[1/3] A man looks at his phone as he passes by a screen advertising Walt Disney's streaming service Disney+ in New York City, U.S., November 12, 2019. The division ended the quarter with an operating loss of $659 million, compared with $1.1 billion in the prior quarter. At the same time, total subscribers to the flagship Disney+ service dropped by 4 million to 157.8 million. Inge Heydorn, a fund manager at GP Bullhound, said a question for investors is: "are the trade offs from lower marketing costs leading to lower subscribers?" "We've only just begun to scratch the surface of what we can do with advertising on Disney+," Iger said on a conference call with analysts.

The company plans to expand its streaming offerings by the end of the year with a new app that combines Disney+ and Hulu, Chief Executive Bob Iger said. Total subscribers to the flagship Disney+ service dropped by 4 million from the previous quarter to 157.8 million. Most of the defections came from the Disney+ Hotstar offering in India after it lost streaming rights to Indian Premier League cricket matches. "Striking a fine balance between customer acquisition versus financial performance is no easy feat." As Disney tries to build streaming, its traditional television business faces hurdles.

☆ Disney is set to report earnings after the bell — here's what to expect
▼ + stars: | 2023-05-10 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Writers walk the picket line on the second day of the television and movie writers' strike outside Disney Studios in Burbank, California on May 3, 2023. A writers strike, a feud in Florida and ongoing company-wide layoffs — there is a lot more than quarterly earnings for CEO Bob Iger and the Walt Disney Company to address on Wednesday. As the pandemic era fades, Disney has staged a rapid financial recovery within most of its divisions, from theme parks to theatrical entertainment. Additionally, the company is already seeing rippling effects from the ongoing writers strike, including the production shutdowns of Marvel Studios' "Blade," which was set to begin filming in Atlanta next month, as well as the Disney+ Star Wars series "Andor." There is also the third wave of expected layoffs within the company, that industry experts expect to see announced soon.

☆ Disney boss races to hold back the dam
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

How that unfolds is in the hands of Comcast (CMCSA.O) boss Brian Roberts, whose cable operator owns the studio behind the cinematic video game hit as well as one-third of Hulu. The shift is understandable, however, considering what Disney is up against. In the quarter ended April 1, the division that houses Disney+ narrowed its operating loss from a year earlier, but subscribers also fell 2% to 158 million compared to the previous quarter. A rare bright spot was the theme parks, particularly overseas, but Iger has a growing number of holes to plug to ensure the dam holds. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Disney's revenue is on the rise, giving CEO Bob Iger a victory lap amid legal battle with Florida's Ron DeSantis
▼ + stars: | 2023-05-10 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

Disney announced its fiscal second quarter earnings, with 13% revenue growth in the three months ending April 1. The results come as CEO Bob Iger reorganizes the company and pursues a legal battle with Florida Gov. Walt Disney Co. reported $21.79 billion in second quarter revenue, which topped Wall Street expectations for the period and marked 13% growth for the three months through April 1, the company said. The company noted decreases in advertising revenue at non-sports channels including both ABC network and A&E cable channels. Still, Disney's direct-to-consumer unit grew revenue by 12% in the second quarter to $5.5 billion while its operating losses decreased.

☆ Wellness travel is rising among a particularly weary group of travelers — parents
▼ + stars: | 2023-05-10 | by ( Monica Pitrelli | Morgan Awyong | ) www.cnbc.com time to read: +6 min

But a new survey shows parents increasingly want in on a trend that isn't often aimed at families: wellness travel. The data showed an emerging picture of family travel — one in which parents may be starting to prioritize their own needs alongside those of their children. Traveling for physical health is up eight points among parents since last year, said Lindsey Roeschke, travel and hospitality analyst at Morning Consult. Planning a wellness family vacationThough some wellness resorts only allow adults, places like The Farm at San Benito welcome guests of all ages. Planning your own wellness tripRather than a resort stay, parents can plan their own wellness trips based on their interests.

☆ Why missing one $2 expense could derail your whole national park trip
▼ + stars: | 2023-05-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

What this means: Travelers can't necessarily bank on showing up spontaneously to a national park and getting the experience they desire. Record park visitation spurred reservationsTourists crowd into the Midway Geyser Basin on July 14, 2021 at Yellowstone National Park, Wyoming. One — Hot Springs National Park in Arkansas — saw record visitors last year. Overall visits to national parks jumped by 5% in 2022 versus the year prior, to 312 million recreation visits. These national parks require vehicle reservationsTraffic heading into Yosemite Village on Oct. 6, 2019, in Yosemite National Park, California.

☆ Disney aims for more profits at Disney+ with more ads, less content, higher fees
▼ + stars: | 2023-05-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Disney laid out the profit plan for Disney+ streaming service on its investor call after reporting its most recent quarterly results, and it’s likely not going to make its customers very happy. It entails cutting back on the content offered, selling more ads and charging higher subscription fees. The company’s ongoing efforts to trim losses and begin to make profits on its streaming business could disappoint some of the people who have enjoyed Disney+, however. “It’s critical we rationalize the volume of content we’re creating and what we’re spending to produce our content,” Iger said about the cuts to the streaming service. Iger said Disney is still learning the proper business model for streaming as it makes the transition.

☆ Cramer sees cloud growth accelerating in the second half of 2023, driven by names like Amazon
▼ + stars: | 2023-05-10 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Stocks mixed on inflation report Stocks were mixed Wednesday morning following fresh data showing the pace of U.S. inflation slowed last month. Watch cloud holdings Jim Cramer said Wednesday that the second half of the year could be a period in which cloud computing companies accelerate. Disney to report Club holding Walt Disney (DIS) is set to report fiscal second-quarter earnings after the closing bell Wednesday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ New York Is Full of Empty Offices After Covid. Make Way for the Playground City. - The New York Times
▼ + stars: | 2023-05-10 | by ( Edward L. Glaeser | Carlo Ratti | ) www.nytimes.com time to read: +20 min

We are witnessing the dawn of a new kind of urban area: the Playground City. The transformation toward the Playground City will not happen on its own. To draw people into the Playground City, we need to show, not tell. 6.Engage citizensGovernments should empower citizens to participate directly in making the Playground City. The Playground City sees people as both a means and an end, and it should involve them in the process of its creation.

☆ Google's new AI-powered search is going to look very different
▼ + stars: | 2023-05-10 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Google's new AI-driven search will look and feel different from the familiar list of search results. Google's classic search engine is getting an AI makeover. For over two decades, the search site has been defined by a plain search bar and a list of results. At its 2023 Google I/O event on Wednesday, the tech giant unveiled an AI-driven search engine with the overall goal of making "search smarter and searching simpler." On top of the more familiar list of search results, there will be an AI-generated summary response answering users' questions.

☆ Disney's quarter reflects what we knew all along about Bob Iger's turnaround plan. Here's our earnings analysis and what's next
▼ + stars: | 2023-05-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Botton line We've been saying for weeks that fiscal Q2 was not the one to rush in and get in ahead of. Not represented in the table, the Q2 loss was also smaller by $400 million quarter over quarter. Furthermore, management acknowledged churn could be a potential issue for one more quarter before returning to domestic sub-growth in the fiscal fourth quarter. As for theme park sales, this profitable growth engine remains in great shape, jumping nearly 38% to $6.76 billion in fiscal Q2. Iger's Strategy Updates Alongside fiscal Q2 results, we got some more news on the strategic changes Iger has for the company, about six months into his return as CEO.

☆ Disney’s Losses From Streaming Narrowed in the Last Quarter
▼ + stars: | 2023-05-10 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

To understand the forces that have been roiling the biggest media companies, look no further than Disney’s earnings. Disney said on Wednesday that losses in its streaming business for the most recent quarter totaled $659 million, an improvement from a year earlier (and a vast improvement from the October-to-December period, when losses totaled $1.1 billion). Streaming revenue climbed 12 percent, reflecting a sharp increase in revenue per paid Disney+ subscriber, a metric investors watch closely. Disney’s linear networks (ESPN, Disney Channel, ABC, National Geographic, FX) reported $1.8 billion in operating income, down 35 percent from a year earlier. Operating profit in the company’s Parks, Experiences and Products division climbed 22 percent, to $2.2 billion, as Disney resorts in Shanghai and Hong Kong finally began to recover from the pandemic.

☆ It could take another quarter for Disney's profits to improve after Iger's big shakeup
▼ + stars: | 2023-05-10 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The entertainment giant will need at least another quarter to see meaningful benefits to profitability from Iger's turnaround plans. "This is not the Disney quarter," he added. The analysts increased their 12-month price target on Disney stock to $135 per share, from $130, and reiterated a buy rating. DIS YTD mountain Disney's stock performance year-to-date. Disney's average revenue per user (ARPU) for its March quarter is expected to be $4.40.

Amazon said the promotion is not a cost-cutting measure and that it applies to customers who have never used Amazon Pickup or have not used that service in the last 12 months. "We offer customers a variety of ways to get their packages, inclusive of delivery and pickup options. The $10 Amazon Pickup promotion isn't new," the company said in a statement. [1/2] One of Amazon's delivery trucks is pictured working on delivery from the Amazon facility in Poway, California, U.S., November 16, 2022. REUTERS/Sandy Huffaker/File Photo 1 2Increasing use of Amazon pickup locations would help the company bypass costly residential package dropoffs and is "a huge opportunity for Amazon to reduce the cost of delivery," Maciuba said.

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