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☆ Walmart and Home Depot are spending heaps of cash on pay raises because they can't afford to lose workers
▼ + stars: | 2023-02-22 | by ( Ben Tobin | Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Home Depot is spending $1 billion to increase wages for hourly workers, the company said Tuesday. Walmart similarly announced last month that it would raise its minimum wage to $14 per hour. Both Walmart and Home Depot said they hoped the raises would boost employee retention and recruitment. The investments show how tight the labor market remains for retail workers, even amid warnings of a potential recession and a rush of layoff announcements among companies in tech, media, and other industries. Retail workers are quitting at faster rates than the national average, and retail had the second most job openings of any industry as of December 2022.

Law-enforcement officials including Attorney General Merrick Garland, speaking, and Deputy Attorney General Lisa Monaco have been dedicating resources to thwarting cyberattacks. Extortion payments from ransomware, a hacking scourge that has crippled hospitals, schools and public infrastructure, fell significantly last year, according to federal officials, cybersecurity analysts and blockchain firms. After ballooning for years, the amount of money being paid to ransomware criminals dropped in 2022, as did the odds that a victim would pay the criminals who installed the ransomware. With ransomware, hackers lock up a victim’s computer network, encrypting hard drives until victims pay.

☆ Wetsuit Shaming in San Francisco Divides Bay Area Swimmers
▼ + stars: | 2023-01-23 | by ( Robert Mcmillan | ) www.wsj.com time to read: 1 min

SAN FRANCISCO—A year ago, Adele Gower used to cherish daily 90-minute swims in the frigid Bay here. Now she can only stand it for 30 minutes. She abandoned her wetsuit after being shamed by fellow San Francisco Bay swimmers—a peculiar, zealous breed, who jump off boats near Alcatraz Island and swim with seals in the city’s Aquatic Park.

☆ The U.S. hit the debt ceiling — here's what that means for your money
▼ + stars: | 2023-01-21 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

The U.S. hit the debt ceiling on Thursday, which forced the Treasury Department to begin taking so-called "extraordinary measures" to continue paying the government's bills. Read on for the answers to the most relevant questions about the debt ceiling, and why, as a long-term investor, you shouldn't be paying too much attention to the headlines. Remind me — what's the debt ceiling again? Where does the debt ceiling stand now? Aside from stock market volatility, you'd see ramifications across the economy.

☆ Extreme cold weather stretches U.S. homeless shelters' capacity
▼ + stars: | 2022-12-23 | by ( Gabriella Borter | ) www.reuters.com time to read: +4 min

[1/4] A man stands outside of his tent during a period of cold weather in Denver, Colorado, U.S. December 22, 2022. Officials prepared the indoor arena to house 225 people but increased its capacity to 359 on Wednesday night. The report found that homelessness among people in shelters declined by 1.6%, while unsheltered homelessness increased by 3.4%, compared to 2020. "Severe weather exacerbates the cruel reality of homelessness in America," said Donald Whitehead, executive director of the National Coalition for the Homeless. Nearly 1,000 migrants were staying at Denver city shelters or partner shelters as of Thursday, according to a city statement.

Ben McMillan, chief investment officer at IDX Digital Assets, said the rising popularity of blockchain-based tools including decentralized exchanges and decentralized finance had also been an important development this year. "We could see bigger allocations to digital assets once risk appetite resumes in 2023." Bitcoin and other tokens took a hammering, slumping by over half in just 49 days from the end of May. On a single day in June, bitcoin fell over 15%, its worst day since March 2020 when COVID chaos roiled financial markets. Bitcoin fell by a quarter in less than four days as Bankman-Fried scrambled for funds to bail his exchange out.

☆ The stock market just flashed a widely watched 'golden cross' indicator that points to more upside ahead
▼ + stars: | 2022-12-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The so-called "golden cross" occurs when the 50-day moving average moves above the 200-day moving average. The opposite signal to the golden cross is the death cross, which is a sell signal that triggers when the 50-day moving average crosses below the 200-day moving average. The analysis found that on average, stocks were higher three months after a golden cross 62% of the time, and higher six months after the golden cross 64% of the time. The average three-month return when stocks were higher after a golden cross was 7.33%, while the average return six months after the golden cross was 10.65%. The golden cross signal is one of many trading patterns that technical analysts employ to buy stocks.

☆ Cardinals vs Patriots: Arizona's woes continue as Kyler Murray hurt in 27-13 loss to New England
▼ + stars: | 2022-12-13 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +27 min

Jeff Dean/AP Los Angeles Chargers wide receiver Mike Williams catches a pass against Miami Dolphins cornerback Xavien Howard on December 11. Gary McCullough/AP Green Bay Packers wide receiver Samori Toure is tackled by Detroit Lions safety Will Harris. Marcio Jose Sanchez/AP Minnesota wide receiver Justin Jefferson dives for a two-point conversion during the Vikings' 29-22 victory over the Chicago Bears. Gerald Herbert/AP Indianapolis Colts wide receiver Michael Pittman Jr. is tripped up by Denver Broncos cornerback K'Waun Williams. Gary A. Vasquez/USA Today Sports/Reuters New Orleans Saints wide receiver Michael Thomas makes a reception against Atlanta Falcons cornerback A.J.

☆ I'm a 20-year-old Airbnb host who made $375,000 in revenue this year. Here's how I set up and scaled my properties.
▼ + stars: | 2022-12-08 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +8 min

Inayah McMillan is a 20-year-old Airbnb host with 11 listings in St. Louis, Missouri. This as-told-to essay is based on a conversation with Inayah McMillan, a 20-year-old Airbnb host with listings in St. Louis, Missouri. We've made more than $375,000 this year in revenue, and our best month yet was this past May, when we made $58,120 in revenue. If I could go back, I would have registered my Airbnb business as an LLC from the very start. Automation softwares are key to scaling"Beaming Carriage Home" in Central West End, St. Louis mAnother thing that sets me apart is having a private booking website.

☆ Apple Plans New Encryption System to Ward Off Hackers and Protect iCloud Data
▼ + stars: | 2022-12-07 | by ( Robert Mcmillan | Joanna Stern | ) www.wsj.com time to read: 1 min

Apple Inc. is planning to significantly expand its data-encryption practices, a step that is likely to create tensions with law enforcement and governments around the world as the company continues to build new privacy protections for millions of iPhone users. The expanded end-to-end encryption system, an optional feature called Advanced Data Protection, would keep most of the iCloud’s data secure, even in the event that Apple is hacked. It would also prevent Apple from being able to provide data from iCloud phone backups in response to law-enforcement requests.

☆ The most expensive drug in the world has a $3.5 million price tag. 2 potential patients share their hopes and fears for the one-time treatment.
▼ + stars: | 2022-12-05 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +7 min

The FDA has approved a new gene therapy to treat hemophilia B, a genetic bleeding disorder. The drugmaker CSL Behring set a $3.5 million price for the one-time treatment. Lackey is learning to live with a severe case of hemophilia B, a rare genetic condition that keeps blood from clotting properly. But a critical unknown in judging CSL's $3.5 million price is the durability of the treatment. Lojewski said the $3.5 million price wasn't guided by other gene-therapy prices.

☆ The most expensive drug in the world just got approved at $3.5 million, and hemophilia patients are conflicted: 'Compared to what we pay, it doesn't seem too terrible.'
▼ + stars: | 2022-12-01 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +7 min

The FDA has approved a new gene therapy to treat hemophilia B, a genetic bleeding disorder. Hemophilia patients told Insider they're excited about the new drug but worried about the price. Lackey is learning to live with a severe case of hemophilia B, a rare genetic condition that keeps blood from clotting properly. While the treatment breaks ground as the first approved gene therapy for hemophilia, its price is also unprecedented. Lojewski said the $3.5 million price wasn't guided by other gene-therapy prices.

☆ Worried About Being Locked Out of Facebook or Instagram? Here Are Options
▼ + stars: | 2022-11-17 | by ( Robert Mcmillan | ) www.wsj.com time to read: 1 min

Locked out of Facebook or Instagram? It happens to a surprising number of people, often with maddening results. The reality, though, is that there aren’t many great options for getting an account restored once a user is locked out. Facebook’s parent company, Meta Platforms Inc., doesn’t have a customer-service line where any user can speak with representatives. The company, which has said it is committing to building out more customer-service options, advises people to use their guided tools, Facebook.com/hacked and Instagram.com/hacked, which ask a series of questions and then recommend various actions to secure the account.

☆ Meta Employees, Security Guards Fired for Hijacking User Accounts
▼ + stars: | 2022-11-17 | by ( Kirsten Grind | Robert Mcmillan | ) www.wsj.com time to read: 1 min

Executives at Facebook parent Meta Platforms led a lengthy internal probe into abuse of a system that allows employees to help users regain control of their accounts. Meta Platforms Inc. has fired or disciplined more than two dozen employees and contractors over the last year whom it accused of improperly taking over user accounts, in some cases allegedly for bribes, according to people familiar with the matter and documents viewed by The Wall Street Journal. Some of those fired were contractors who worked as security guards stationed at Meta facilities and were given access to the Facebook parent’s internal mechanism for employees to help users having trouble with their accounts, according to the documents and people familiar with the matter.

☆ Elon Musk Tells Twitter Employees Remote Work Is Over
▼ + stars: | 2022-11-10 | by ( Alexa Corse | Robert Mcmillan | ) www.wsj.com time to read: 1 min

Elon Musk told Twitter employees that the company needs roughly half of its revenue to come from subscriptions. Elon Musk ordered the end of remote work for most Twitter Inc. employees, in his first email to the whole company since taking over late last month. The memo came amid more turmoil in the senior ranks at the company, with Twitter’s chief information security officer departing. “There is no way to sugarcoat the message,” Mr. Musk wrote in the overnight email, according to a copy of the message viewed by The Wall Street Journal. “The economic picture ahead is dire, especially for a company like ours that is so dependent on advertising in a challenging economic climate.”

☆ Twitter’s Moderation Boss Is an Unlikely Ally of Elon Musk
▼ + stars: | 2022-11-10 | by ( Sarah E. Needleman | Robert Mcmillan | ) www.wsj.com time to read: 1 min

The executive tasked with policing content on Twitter Inc. might seem an unlikely ally for Elon Musk, a self-described free-speech absolutist. Yoel Roth , Twitter’s global head of safety and security, was maligned by critics a couple of years ago as the embodiment of the company’s alleged bias against conservative users, an issue Mr. Musk has vowed to address.

Elon Musk told Twitter employees that the company needs roughly half of its revenue to come from subscriptions. Elon Musk ordered the end of remote work for most Twitter Inc. employees as the departure of senior security and privacy executives from the company drew concern from federal regulators. “There is no way to sugarcoat the message,” Mr. Musk wrote in the overnight email, his first to the whole company, according to a copy of the message viewed by The Wall Street Journal. “The economic picture ahead is dire, especially for a company like ours that is so dependent on advertising in a challenging economic climate.”

Inside Twitter Inc. in the week after Elon Musk took it over, almost no one seemed to know for sure what was going on. As Mr. Musk opined and joked on the platform about possible product changes, the mood among many inside the company was anxious and grim, according to interviews with employees. The one thing that seemed certain to employees was that many of them would soon lose their jobs, they said.

☆ Elon Musk’s Twitter Begins Layoffs
▼ + stars: | 2022-11-04 | by ( Alexa Corse | Robert Mcmillan | ) www.wsj.com time to read: 1 min

Twitter Inc. has told employees it would notify them about head-count reductions on Friday, a move that comes about a week after billionaire Elon Musk acquired the social-media company. The company, in a message sent to staff on Thursday, didn’t spell out the extent of the cuts. Twitter had more than 7,500 employees at the start of this year, according to a regulatory filing.

☆ Elon Musk’s Twitter Tells Staff Layoffs Will Be Announced Friday
▼ + stars: | 2022-11-04 | by ( Alexa Corse | Robert Mcmillan | ) www.wsj.com time to read: 1 min

Elon Musk has leveraged his diverse business empire in his first week owning Twitter Inc., blurring the line between the newly private social-media company and Tesla Inc., the electric-car maker he also runs. Tesla engineers were among the first outsiders to begin working on reshaping Twitter after Mr. Musk completed his $44 billion takeover a week ago, part of at least dozens of people added to an internal company directory, according to documents viewed by The Wall Street Journal. The list included some people who appear to work for the Boring Co., a tunneling business Mr. Musk founded.

☆ Twitter Tells Employees Jobs Cuts Will Be Announced Friday
▼ + stars: | 2022-11-03 | by ( Alexa Corse | Robert Mcmillan | ) www.wsj.com time to read: 1 min

Twitter had more than 7,500 employees at the start of this year. Twitter Inc. has told employees it would notify them about head-count reductions on Friday, a move that comes about a week after billionaire Elon Musk acquired the social-media company. The company, in a message sent to staff on Thursday, didn’t spell out the extent of the cuts. Twitter had more than 7,500 employees at the start of this year, according to a regulatory filing.

☆ The market is moving in-line with seasonal patterns almost perfectly — Post-midterms rally next?
▼ + stars: | 2022-10-29 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

In a fully rational and efficient market, seasonal stock-performance factors should be of no use to an investor, and perhaps should not exist at all. This past September was brutal, the S & P 500 down 9.3%, with the downside skewed toward the second half of the month, just as the seasonal script dictated. Since 1950, the S & P 500 has never been down from November to April in a midterm year. Remember all the talk that stocks have tended to rally up to and through the first Fed rate hike? A 17% S & P rally from June-August on hopes of a dovish turn by the Fed and a firming in macro data.

☆ Cryptoverse: British pound fiasco boosts bitcoin's hedge appeal
▼ + stars: | 2022-10-25 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

Oct 25 (Reuters) - As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin. Register now for FREE unlimited access to Reuters.com Register"It was the first time we've seen such a huge increase in (bitcoin) volumes for the currency of a developed country," said Ed Hindi, chief investment officer at Tyr Capital. In fact, over the past month of market ructions, U.S. Treasuries have been equally or more volatile than bitcoin, according to Refinitiv data. The pound volumes echoed similar instances of investors jumping into bitcoin when fiat money came under pressure, including in Russia and Ukraine this year. Some crypto watchers say the September surge was nonetheless a reflection of bitcoin's enduring appeal as an asset outside mainstream finance.

☆ Online Scams Cost Americans Billions. Here’s How to Avoid the Worst of Them.
▼ + stars: | 2022-10-21 | by ( Robert Mcmillan | ) www.wsj.com time to read: 1 min

If you ever find yourself transferring money online, either to or on behalf of someone you’ve never met—stop, law-enforcement officials say. For years now, scammers have found that they can make millions of dollars conning people using a variety of online methods. So how to avoid being scammed? The bottom line, law-enforcement officials say, is that if you ever find yourself transferring money online, either to or on behalf of someone you’ve never met—stop. Even if you know who you’re sending the money to, talk to them via telephone before you send the funds.

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