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☆ Democrats say Florida is 'dead for Biden' as his 2024 presidential campaign starts: 'We just need to be realistic'
▼ + stars: | 2023-04-25 | by ( Nicole Gaudiano | Kimberly Leonard | ) www.businessinsider.com time to read: +15 min

"It's like a dead carcass on the side of the road," DeSantis said in April of the Florida Democratic Party. Nearly two decades ago, Florida Democrats were "similarly declared dead, you know, forever, Amen," Schale said, but they rebounded. Wilfredo Lee/AP PhotoDemocrats say they still have spend in FloridaBut it's important for Democrats to still invest campaign resources in Florida, Democratic insiders said. Florida Democratic Party Chair Nikki Fried said the party had no infrastructure and no voter registration drive when she took the helm in February. Joe Raedle/Getty Images, Scott Olson/Getty ImagesBuilding a Democratic benchFried she's optimistic about Florida Democrats' future — and Biden's potential there.

☆ Fox's not allowing Tucker Carlson to say goodbye to viewers is the equivalent of 'execution' says fired CNN anchor
▼ + stars: | 2023-04-25 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Tucker Carlson's abrupt ousting from Fox News is more like an "execution," according to a fired CNN anchor. "Not being given a chance to sign off is the television equivalent of an execution," Brian Stelter said in Vanity Fair. Yet Carlson, Fox News' top-rated host, never got the chance to say goodbye to his audience, thanks to his sudden ousting on Monday by the conservative media powerhouse. Advertisements featuring Fox News personalities, including Tucker Carlson, adorn the front of the News Corporation building, March 13, 2019. "The takeaway, at least for some TV insiders, is that Carlson was shoved— hard—by Fox management," Stelter wrote in Vanity Fair.

☆ NBCUniversal faces a set of company-defining decisions as CEO Jeff Shell departs
▼ + stars: | 2023-04-24 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Shell announced he was departing the company immediately Sunday after admitting to an inappropriate relationship with an NBCUniversal employee. DiscoveryThe elephant in the room with NBCUniversal is the frequent speculation in media circles that a merger with Warner Bros. Warner Bros. Warner Bros. Warner Bros.

☆ Bidens Paid About $170,000 in Taxes for 2022
▼ + stars: | 2023-04-19 | by ( Ken Thomas | ) www.wsj.com time to read: 1 min

President Biden has continued to seek changes to the nation’s tax policies. Photo: Drew Angerer/Getty ImagesWASHINGTON—President Biden and first lady Jill Biden made $579,514 in adjusted gross income in 2022 during his second year as president, according to their tax returns released by the White House Tuesday. The Bidens filed their tax return jointly and paid $137,658 in federal income tax, with an effective federal income-tax rate of 23.8%. They also paid $29,023 in Delaware income tax, and Dr. Biden paid $3,139 in Virginia income tax.

☆ Everything you need to know as JPMorgan, Citi, Goldman Sachs, and other big banks report earnings
▼ + stars: | 2023-04-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Bank of America and Goldman Sachs come in on Tuesday, with Morgan Stanley bringing up the rear on Wednesday. For a breakdown on the specific numbers, check out Markets Insider and the fantastic 10 Things Before the Opening Bell newsletter. Big banks poured $30 billion into First Republic in the midst of the banking crisis in an effort to shore up the wider market. And what about those pesky shadow banks? Never one to miss a good opportunity, shadow lenders are looking to step up where big banks are stepping back, Bloomberg reported.

☆ Why cutting middle management is a bad idea
▼ + stars: | 2023-04-11 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

The push to cut middle managers will backfire on tech. Companies like Amazon, Meta, and Salesforce embarked on cost-cutting efforts that "flattened" org charts by removing middle managers, starting a trend across Silicon Valley. Middle managers, or what Meta CEO Mark Zuckerberg calls "managers managing managers," saw their roles shrink in the past year as tech companies focus on "individual contributors," increasingly requiring managers to do coding work themselves. But losing middle managers could also impact team morale and how employees look at their futures in the company. It comes despite Musk recently signing an open letter calling for an industry-wide halt to any AI training for several months.

☆ Inside Nike: Sources share claims of sexism, cheating, abuse at the world's wokest brand
▼ + stars: | 2023-04-05 | by ( Joshua Hunt | ) www.businessinsider.com time to read: +51 min

The conservative blowback came as no surprise to Parker, who told Nike's board of directors to expect some short-term backlash. In late 2014, the BBC sent a film crew to Portland to interview several former Oregon Project employees. "He would be at the side of the track calling out runners' splits but wouldn't call Kara's out," Adam Goucher told me. When people asked why she left the Oregon Project, she said it was a "personal decision." "I don't think it has anything to do with who the CEO is," Goucher told me.

A Manhattan grand jury voted to indict Donald Trump, possibly over a "hush-money" payment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. Anna Moneymaker/Getty ImagesThe Manhattan grand jury voted to indict Trump on Thursday, March 30.

Both are owned by Beijing-based parent company ByteDance, but Douyin launched before TikTok and became a viral sensation in China. Like TikTok, it’s a short-form video app. Then in 2017, the privately-owned tech company bought a US-based video startup and released TikTok as the overseas version of Douyin. The download page for the TikTok app displayed on an Apple iPhone. Besides TikTok, there’s also shopping app Temu, fast fashion retailer Shein and video editing app CapCut, which is also owned by ByteDance.

☆ A 2nd round of layoffs at Meta and Amazon shows companies are taking back their power — and they may not stop there
▼ + stars: | 2023-03-21 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +6 min

Meta and Amazon have announced two series of mass layoffs in the span of months. After years of companies trying to attract and placate workers amid a labor shortage, businesses are reasserting some of their power. "We read about two rounds of layoffs now and shrug and say, 'When's the third?'" Drew Angerer/Getty ImagesIt's rare for a company to conduct multiple rounds of layoffs, according to data from Crunchbase. Amazon and Meta did it, so it won't stand out as much."

A Manhattan grand jury weighing evidence for a possible Donald Trump "hush-money" indictment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. What could happen nextThe final witnesses were scheduled to testify before the grand jury on March 20, though it is unclear when the panel may vote.

☆ Mark Zuckerberg is leaning into Meta's 'year of efficiency' the wrong way, and multiple rounds of layoffs will be damaging
▼ + stars: | 2023-03-19 | by ( Rebecca Knight | Tim Paradis | ) www.businessinsider.com time to read: +5 min

Meta CEO Mark Zuckerberg last week unveiled another round of layoffs hitting 10,000 staffers. The dismissals are part of an efficiency plan boost productivity and turn Meta into a talent magnet. But the job cuts are likely to have the opposite effect, two management experts told Insider. Rather than resorting to layoffs, Sucher said companies should look at other ways to lower headcount, including natural attrition, buyouts, and hiring freezes. "You have to plan for it in order to not have it kill your company," Sucher said.

☆ These are our two preferred scenarios for the Fed's big March meeting next week
▼ + stars: | 2023-03-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Two things will capture all the market's attention in the coming week: The Federal Reserve's March meeting and the government's ongoing attempt to quell worries about the banking system. If it raises, Powell should speak softly; no raise and Powell should strongly remind the market that the work isn't done. Still, for the week, U.S. stocks fared better, with the S & P 500 rising 1.5% and the Nasdaq gaining 4.5%. On Thursday, initial jobless claims for the week ended March 11 came in at 192,000, a decrease of 20,000 from the prior week and below the expected 205,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Employees have been working around the clock to onboard as many startups as possible in the wake of the implosion of Silicon Valley Bank. Silicon Valley Bank, which had more than $175 billion in deposits and served nearly half of US VC-backed startups, was taken over by US regulators on March 10. "That said, I am worried that this bias towards a Big Four bank is a double-edged sword," Shekar added. "SVB did not think like a big bank. They could understand your operating plan when a big bank would balk at it," Ashley Tyrner, CEO and founder of FarmBoxRX, told Insider.

☆ Google wasted its pandemic opportunity. Now, it's scrambling to catch up.
▼ + stars: | 2023-03-15 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

This Amazon worker similarly enjoys office life. The company is currently also lagging in the AI space (thanks to the buzzy AI chatbot ChatGPT). Now, the company is going all in on AI instead. Check out his experiences with the AI tools here. It remains the only Big Tech company to avoid widespread layoffs.

☆ The winners and losers of the Silicon Valley Bank failure
▼ + stars: | 2023-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Silicon Valley Bank was taken over by regulators on Friday. These are the biggest winners, and losers, in the wake of the bank failure. Which brings us to the downfall of Silicon Valley Bank. Here's a rundown of who stands to gain, and lose, the most as a result of the fall of Silicon Valley Bank. Silicon Valley Bank's obituary had barely been written before firms were offering to buy up customers' uninsured deposits for as little as 55 cents on the dollar.

☆ President Biden’s proposed 2024 budget calls for top 39.6% tax rate
▼ + stars: | 2023-03-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The plan calls for a top marginal income tax rate of 39.6%, up from 37%, which was reduced as part of former President Donald Trump's signature tax legislation. Biden's plan aims to reform the tax code to "reward work, not wealth," White House Office of Management and Budget Director Shalanda Young told reporters on a call. The plan includes a 25% minimum tax on Americans with wealth exceeding $100 million, and would "ensure that no billionaire pays a lower tax rate than a teacher or firefighter," Young said. watch nowBiden's 2023 federal budget plan proposed a 20% levy on households with the same level of wealth, applying to "total income," including regular earnings and so-called unrealized gains. Without additional changes by Congress, several provisions from the Tax Cuts and Jobs Act will sunset in 2026, bumping the top income tax rate back to 39.6%.

☆ Rupert Murdoch could face FEC fines if he tipped off Jared Kushner about Biden's presidential ads before they aired
▼ + stars: | 2023-03-03 | by ( Madison Hall | Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

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.

☆ How Walmart CEO Doug McMillon went from unloading Walmart trucks as teen to earning $25.7 million in total compensation
▼ + stars: | 2023-03-02 | by ( Hannah Towey | Ben Tobin | ) www.businessinsider.com time to read: 1 min

"My optimism is higher than it was at the beginning of the year," McMillon said on a post-earnings call in May 2022. "In the US, economic stimulus is clearly having an impact." McMillon's optimism has the numbers to back it, with fiscal 2022 earnings expected to increase by high single digits. Walmart CEO Doug McMillon. Drew Angerer/Getty ImagesSource: Reuters

☆ China spent years angrily trying to shut down the theory that COVID-19 came from its labs. It failed.
▼ + stars: | 2023-03-01 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

China has pushed another theory, suggesting the COVID-19 may have jumped to humans from frozen food shipped from elsewhere in the world. Lab leak theory initially dismissedThe suspicion that COVID-19 may have leaked from a Wuhan lab has circulated since the earliest days of the pandemic. Trump sought to use the pandemic to discredit China, using the xenophobic term "China virus" to describe the disease. A group of scientists criticised the WHO for dismissing the lab leak thesis too hastily, and pointed to gaps in the report's evidence. Yet the lab leak theory has continued to gain credibility, despite China's efforts, and scientists who once dismissed it now think it's a credible explanation.

☆ Several big-name GOP lawmakers won't go to CPAC this year amid chairman Matt Schlapp's sexual assault scandal
▼ + stars: | 2023-03-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

CPAC is typically a major opportunity for GOP politicians to boost their profile and give red-meat speeches. But many aren't going this year as chairman Matt Schlapp faces a $9.4 million sexual assault lawsuit. Nikki Haley, Sen. Ted Cruz of Texas, and Sen. Rick Scott of Florida — are still scheduled to speak later this week. Republican Sen. Steve Daines of Montana, the chairman of the National Republican Senatorial Committee. Republican Sen. Joni Ernst of Iowa, also not attending, visibly cringed when asked about CPAC.

☆ A tally of the times Rupert Murdoch, Sean Hannity, and Laura Ingraham privately trashed Rudy Giuliani in the wake of the 2020 election even as Fox News continued to have him on their shows
▼ + stars: | 2023-02-28 | by ( Kelsey Vlamis | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Dominion's lawsuit revealed comments Fox News hosts and execs made about Rudy Giuliani in 2020. Dominion is suing Fox for defamation related to unfounded election fraud claims about the company. Rupert MurdochRupert Murdoch, the founder and chairman of Fox News, made several claims disparaging Giuliani and doubting the veracity of his claims. Drew Angerer/Getty ImagesSean HannityOn November 11, 2020, Fox News host Sean Hannity said, "Rudy is acting like an insane person," according to the court documents. Laura IngrahamOn January 12, 2021, Fox News Host Laura Ingraham said, "Rudy is such an idiot," the documents said.

☆ Fox News hosts and executives privately mocked pro-Trump election conspiracy theories after he lost, internal texts show
▼ + stars: | 2023-02-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

It enrages me," Tucker Carlson wrote in a text message to his producer Alex Pfeiffer. "Not a single Fox witness testified that they believe any of the allegations about Dominion are true," Dominion lawyers wrote. Imho they need to address but wtf do I know," Hannity wrote in a text message, referring to Newsmax. That email, Dominion's lawyers write, came from an unnamed author who claimed to be a beheaded ghost who talks to the wind. President Trump not only was the sitting President, he was the key figure that day," Dominion's lawyers wrote.

☆ Elderly senators have mixed feelings about Nikki Haley's call for 'mandatory mental competency tests' for politicians over 75
▼ + stars: | 2023-02-16 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Nikki Haley is calling for "mandatory mental competency tests" for politicians over the age of 75. Over a sixth of the US Senate is age 75 or older. "We'll have term limits for Congress, and mandatory mental competency tests for politicians over 75 years old." "I think she should test her own mental competency," said Democratic Sen. Mazie Hirono of Hawaii, who recently turned 75. Republican Sen. Jim Risch of Idaho said he'd take a mental competency test Drew Angerer/Getty ImagesSome aging lawmakers expressed general openness to taking the test.

☆ The inside story of how Microsoft caught up with Google on AI, and the unlikely executive who made it happen
▼ + stars: | 2023-02-10 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

With OpenAI technology, Microsoft CEO Satya Nadella is challenging Google's online search monopoly. "Who'd have thought, even just a few months ago, that Google would be on their back foot," said Soma Somasegar, a former Microsoft executive. Google was also busy incorporating machine-learning and other AI technology into popular products such as Google Photos, Google Translate, and its search engine. Microsoft's new Bing search engine uses a newer version of GPT-3 to answer complex questions. Microsoft's positive feedback loopThe OpenAI deal laid the foundation for Microsoft to catch Google in the AI race.

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