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☆ High frequency data shows U.S. economy is not heading for recession, economist says
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh frequency data shows U.S. economy is not heading for recession, economist saysSteen Jakobsen, chief investment officer at Saxo Bank, says the market is overpricing a U.S. recession and explains why investors should be stripping out companies with "intangible" products, such as Big Tech.

When I first started investigating China’s top spy agency in 2020 for my book, “Spies and Lies: How China’s Greatest Covert Operations Fooled the World,” I thought espionage was its main game. In October, the Justice Department charged 13 people with plotting to covertly advance China’s interests in the United States. Several of those charged are allegedly officers of China’s Ministry of State Security. I soon realized that the Ministry of State Security’s covert influence operations have been at the forefront of its work to shape the world. Many countries, including the United States, are working to combat espionage but lack laws suited to tackling covert influence operations.

☆ The French baguette gets UNESCO heritage status
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe French baguette gets UNESCO heritage statusThe French baguette has been added to UNESCO's Intangible Cultural Heritage list.

☆ Crunch time: U.N. puts baguette on cultural heritage list
▼ + stars: | 2022-11-30 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

PARIS — The humble baguette — the crunchy ambassador for French baking around the world — is being added to the U.N.’s list of intangible cultural heritage as a cherished tradition to be preserved by humanity. With the bread’s new status, the French government said it planned to create an artisanal baguette day, called the “Open Bakehouse Day,” to connect the French better with their heritage. With the bread’s new status, the French government said it planned to create an artisanal baguette day. It’s the traditional baguette from the traditional bakery that’s in danger. The “artisanal know-how and culture of baguette bread” was inscribed at the Morocco meeting among other global cultural heritage items, including Japan’s Furyu-odori ritual dances, and Cuba’s light rum masters.

☆ French baguette makes it onto World Cultural Heritage list
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

PARIS, Nov 30 (Reuters) - The humble baguette, France's staple bread, has made it onto the United Nation's cultural heritage list. Paris-based U.N. heritage body UNESCO on Wednesday voted to include the "artisanal know-how and culture of baguette bread" on its list of Intangible Cultural Heritage, which already includes around 600 traditions from over 130 countries. This "celebrates the French way of life: the baguette is a daily ritual, a structuring element of the meal, synonymous with sharing and conviviality," said UNESCO chief Audrey Azoulay. These days a baguette - which means "wand" or "baton" - is sold for around 1 euro ($1.04) each. ($1 = 0.9645 euros)Reporting by Geert De Clercq and Elizabeth Pineau; Editing by Ingrid Melander and Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

The Supreme Court in recent years has hemmed in prosecutors in political corruption cases including a 2020 decision to toss the convictions of two aides to Republican former New Jersey Governor Chris Christie relating to the "Bridgegate" political scandal. The charges against Percoco and Ciminelli were brought in 2016 by then-Manhattan U.S. Attorney Preet Bharara, who also pursued corruption cases against top state lawmakers including former Assembly Speaker Sheldon Silver. They also have asked the Supreme Court to reverse their convictions. A judge in July allowed all four to be released from prison on bail after the Supreme Court agreed to hear the case. Ciminelli's lawyers said such intangible information could not qualify as a "property fraud" under Supreme Court's precedents.

☆ From digital wallet accounts to shares in project ownership, the metaverse will reimagine money as we know it
▼ + stars: | 2022-11-21 | by ( Sponsor Post | Created Mastercard With Insider Studios | ) www.businessinsider.com time to read: +6 min

In Asia, brands have an opportunity to drive value by creating new experiences for customers in the metaverse. At its core, the metaverse is an interconnection of immersive, real-time virtual experiences. It's still more idea than reality — virtual or otherwise. Making virtual reality realFor "value" in the metaverse, we can substitute the word "experiences." Money will be expressed in new ways, from digital wallet accounts to tokens (like cryptocurrency) that represent rewards, vouchers, or a slice of ownership in a project or service.

☆ FTX: Customers who trusted crypto giant may be left with nothing
▼ + stars: | 2022-11-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

But a liquidity crunch last week forced FTX to halt withdrawals, leaving customers and investors in limbo. In theory, FTX’s customers should get a cut of what’s left of the company’s assets at the end of the bankruptcy process. And FTT coins, the crypto token issued by FTX, have lost more than 90% of their value over the past week.) But I think this is actually good for the industry long-term.”The giant crypto exchange briefly emerged as a lifeline for FTX before reversing course last week. Correction: An earlier version of this article misstated the name of the law firm Loeb & Loeb.

☆ Buy these 16 stocks that are minting profits from their investments while maintaining ultra-low valuations, Bank of America says
▼ + stars: | 2022-11-13 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

Former growth stocks can become outstanding value plays, according to Bank of America. It says they can deliver strong returns because of their balance sheets and competitive positions. "Young growth stocks can become mature value stocks," the group of strategists wrote. The RIC is positive on energy, small cap, and value stocks, noting that "there's always a bull market somewhere." Bank of America says they're among the least expensive S&P 500 stocks based on price-to-adjusted book value.

☆ Kurt Cobain's smashed guitar, Lennon's glasses hit the auction block
▼ + stars: | 2022-11-09 | by ( Alicia Powell | ) www.reuters.com time to read: +1 min

NEW YORK, Nov 9 (Reuters) - A Kurt Cobain smashed guitar is expected to fetch top dollar at Julien’s Auction’s annual Icons & Idols: Rock ‘N’ Roll Auction in New York. The taped-up instrument is considered by some a piece of rock and roll history and estimated to be worth $200,000 to $400,000. “This guitar was actually smashed in Williamsport, Pennsylvania, 1989," said executive director of Julien’s Auctions, Martin Nolan. Glasses worn by John Lennon are estimated to sell for over $80,000. “You sort of identified John Lennon as wearing those type of round granny glasses, as he called them himself.

☆ Here's how to pick winning stocks that can help your portfolio survive a recession, according to the managers of a $42 billion fund that beat 92% of peers in the past decade
▼ + stars: | 2022-11-05 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Matt McLennan and Kimball Brooker have guided their fund to a top 8% performance in the past decade. That's in sharp contrast to Matt McLennan and Kimball Brooker, co-managers of the $42 billion First Eagle Global Fund (SGENX). "What you'll find is that the amount of whatever it is that we're collecting never becomes large enough to do too much damage to the portfolio," Brooker told Insider. Those first two points are often prioritized by managers seeking quality stocks, but fewer fund managers target those latter two attributes. Fund managers should carefully consider a stock's long-term outlook instead of simply whether or not it diversifies and lowers the volatility of a portfolio.

☆ Here's what the Day of the Dead means, and why it endures
▼ + stars: | 2022-10-31 | by ( Albinson Linares | Noticias Telemundo | ) www.nbcnews.com time to read: +10 min

The "Day of the Dead Parade" in Mexico City on Oct. 29, 2022. Claudio Cruz / AFP - Getty Images"In Mexico, Nov. 1 and 2 are very special days because they celebrate All Saints’ Day and All Souls’ Day, respectively," said Diana Martínez, an academic at the Institute of Anthropological Research at the National Autonomous University of Mexico, or UNAM. By the 13th century, the Roman Catholic Church established Nov. 1 as All Saints’ Day. People take part in the "Day of the Dead Parade" in Mexico City on Oct. 29, 2022. He's worked at the cemetery from a very young age and has witnessed many Día de los Muertos celebrations.

☆ Microsoft's drop on a weaker guide doesn't reflect the long-term potential of the stock
▼ + stars: | 2022-10-25 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Despite strong headline results, shares fell roughly 6.5% in extended trading on lighter Azure cloud growth and weaker forward guidance. Note: Constant currency growth rates, which is what we will cite in this report, help strip out fluctuations in foreign currency, namely a strong U.S. dollar, to provide a clearer financial picture. Xbox Content and Services revenue ticked up 1% in constant currency, while Xbox hardware sales jumped 19% in constant currency. Management expects Azure revenue growth to be lower sequentially by roughly five percentage points on a constant currency basis. Despite coming up a bit short versus estimates, Microsoft is still generating a ton of cash.

☆ Bob Pisani: How my obsession with a Black Sabbath poster showed how irrational we can be when investing
▼ + stars: | 2022-10-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

If you think knowing something about behavioral economics prevents you from doing stupid things, let me tell you about the Black Sabbath poster I bought. How I almost lost my mind bidding on a stupid Black Sabbath poster One day I was monitoring an online auction of rock posters. A 1976 Black Sabbath poster came up for sale. It's not like Black Sabbath has an intense cult of collectors, like Zeppelin or the Velvet Underground. With that damn Black Sabbath poster, I violated all the rules.

☆ A merger with Albertsons could bring Kroger's tech initiatives, like automated warehouses and smart carts, to over 5,000 locations
▼ + stars: | 2022-10-17 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +13 min

Kroger is building its own tech infrastructure, including automated warehouses for delivery orders. Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. Another partnership, this one with the autonomous-car startup Nuro, has stationed self-driving vehicles to deliver grocery orders in certain cities since 2018.

☆ Tourists in Italy are behaving badly this year: Here’s why
▼ + stars: | 2022-10-15 | by ( Julia Buckley | ) edition.cnn.com time to read: +19 min

With Europe seeing an explosion of visitors a year after Covid travel restrictions dropped, incidents of visitors behaving badly in Italy show no sign of abating. Think that’s bad? Meanwhile in Venice, tourists routinely swim in the UNESCO-protected canals, which double as the city’s sewer system. “Tourists don’t know how to relate to the artistic heritage because they have no relation with our history – so they refer to their cultural imagination, and therefore to our cinema. “So many tourists have said to me over the years, ‘In Italy there are no rules.’ But they are mistaken.

Persons: Gennaro Sangiuliano, ”, Ivan, Haley, destructively, –, surfed, Augustus, ENIT, Eike Schmidt, Florence – Italy’s, we’ve, it’s, Schmidt, serena, panini, Luigi Brugnaro, Gianfranco Zarantonello, “, Zarantonello, zipping, you’d, Tom Jenkins, “ It’s, Nicola Bassano, Dolce, Federico Fellini, Marcello Mastroianni, Anita Ekberg, Trevi, Vita ”, Vita, ” Maria Pasquale, ” Jenkins, Giorgia, Dr Audrey Tang, We’re, they’d, “ Jung, it's, ” Tang, “ That’s, Tang, ” Zarantonello, Lord Byron, Byron, “ Byron, Michelangelo’s Organizations: CNN, UNESCO, carabinieri, Maserati, Vatican Museum, Uffizi, Roma, Tourists, European Tourism Association, United, Vita, Twitter, Parco, British Psychological Society Locations: Italy, Rome, Saudi, Venice, Australian, American, ENIT, Florence, ”, Italian, Czech, Belgian, eFoils, Southeast Asia, France, Spain, ‘, ” Venice, Europe, It’s, Grand, Vatican

☆ Here are all five parts of our series on how to analyze an earnings report
▼ + stars: | 2022-10-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +85 min

Operating income Once we remove operating expenses from gross margin dollars , we are left with what is known as operating income. This is especially important from a cash flow perspective as many companies define free cash flow (a non-GAAP metric) as "operating cash flow less expenditures on property, plant and equipment." Part 3: Cash flow analysis The cash flow statement is the middle child in a financial report — it gets overlooked. Investors may look to use operating cash flow or free cash flow for this equation. AMC's cash flow Let's finish by taking a look at the cash flow statement.

☆ FASB Settles on Fair-Value Accounting for Measuring Crypto Assets
▼ + stars: | 2022-10-12 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +4 min

The Financial Accounting Standards Board on Wednesday said companies should use fair-value accounting for measuring bitcoin and other crypto assets, moving a step closer to a standard that could clear up uncertainty over reporting how much such holdings are worth. Companies and accountants want the FASB to adopt fair-value accounting instead, which would allow them to recognize losses and gains immediately and treat digital assets as financial assets. The FASB on Wednesday said fair-value accounting best captures the economics of crypto assets and determined the method would be a requirement rather than an option for companies. PREVIEWCompanies and investors have asked the FASB for years for rules on how to account for and disclose crypto assets. “Without these standards for the accounting and valuation of crypto assets, companies are reluctant to hold them,” she said.

☆ How to analyze an earnings report — Part 5: A case study
▼ + stars: | 2022-10-11 | by ( Zev Fima | ) www.cnbc.com time to read: +23 min

In this case study, we can apply some of what we covered in Part 1 : The income statement; Part 2 : The balance sheet; Part 3 : Cash flow analysis; and Part 4 : The ratios. At the time, he still had over 2.3 million shares, nearly all of which were unvested. AMC's cash flow Let's finish by taking a look at the cash flow statement. What we really want to focus on is operating cash flow (line three), followed by capital expenditures and then free cash flow. Even in the fourth quarter, it didn't generate enough cash flow to cover the investing and financing outflows, not to mention capital expenditures.

☆ EU proposes rules making it easier to sue drone makers, AI systems
▼ + stars: | 2022-09-28 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

The AI Liability Directive aims to address the increasing use of AI-enabled products and services and the patchwork of national rules across the 27-country European Union. Under the draft rules, victims can seek compensation for harm to their life, property, health and privacy due to the fault or omission of a provider, developer or user of AI technology, or for discrimination in a recruitment process using AI. Users can sue for compensation when software updates render their smart-home products unsafe or when manufacturers fail to fix cybersecurity gaps. Those with unsafe non-EU products will be able to sue the manufacturer's EU representative for compensation. The AI Liability Directive will need to be agreed with EU countries and EU lawmakers before it can become law.

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.

☆ GM delays return-to-office mandate after employee backlash
▼ + stars: | 2022-09-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – General Motors is conducting damage control around its return-to-office plans after a Friday afternoon message to employees spurred backlash and confusion. On Tuesday, a second message walked back that timing and clarified the company won't be mandating specific in-office days, instead leaving that decision to individual teams. The follow-up message says no workers will be required to return to offices sooner than the first quarter of next year. She said the timing of the return-to-office has shifted, but "the overall plan has not really changed." GM described it as a flexible, evolving policy that will differ depending on the employee, week and project.

☆ Kroger is doubling down on its subscription delivery business as it weans itself off of Instacart. Here's a rundown of its other initiatives, from ghost kitchens to smart carts
▼ + stars: | 2022-09-26 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +12 min

Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. ClusterTruckGhost kitchensIn December 2019, Kroger began improving its prepared meals offering by partnering with ghost kitchen startup ClusterTruck. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. But the firm, which tracks where consumers shop, said Kroger stores with the ghost kitchens are seeing an uptick in visits compared to neighboring Kroger branches.

I'm happy to spend $5 on an Americano, even if I make a fairly modest income. I prioritize my coffee spending over other things, like new clothes or regular haircuts. Mostly, though, I just enjoy living in a world where local shops, and the people who run them, can thrive. When my husband and I first started dating, we'd often post up in a coffee shop to have "together-alone time." The organization referred to coffee houses as special places "where time and space are consumed, but only the coffee is found on the bill."

☆ SEC Advisory Panel Recommends Oversight of U.S. Accounting Rule Maker
▼ + stars: | 2022-09-21 | by ( Mark Maurer | ) www.wsj.com time to read: +4 min

The SEC’s Investor Advisory Committee, a group of investors, academics and financial advisers, recommended setting up another advisory committee to ensure the Financial Accounting Standards Board remains politically independent. PREVIEWRoughly 260 accounting and tax experts in November 2021 asked federal lawmakers to not tie the then-proposed tax to income metrics reported to investors. The new advisory group would consider ways to strengthen financial reporting in areas such as intangible assets, for example internally developed software, the Investor Advisory Committee said. SEC staff attend the FASB’s advisory committee meetings as formal observers and provide insight to help with rule making but lack the voting power of full board members. The FASB should then factor those costs into the cost-benefit analysis it conducts when drawing up new accounting rules, the SEC Investor Advisory Committee said.

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