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☆ The US could be 4 months away from a potentially disastrous debt-ceiling breach, but nobody's negotiating over how to fix it
▼ + stars: | 2023-03-04 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

GOP lawmakers have refused a clean increase, but have yet to produce details on what they want in a deal. The US could breach the debt ceiling as soon as July, the CBO estimated. That's because no one seems to be ready or willing to negotiate over how to raise the debt ceiling. The debt ceiling dictates how much money the government can borrow to pay off the expenses it's already approved. For now, Biden's administration has maintained that raising the debt ceiling should be done in a bipartisan way, and without negotiations.

The movement of asylum-seekers into Canada from the United States has picked up since Canada lifted COVID-19 pandemic restrictions in late 2021, a trend mirroring global displacement. More than 39,000 refugees entered Canada last year via unofficial crossings, the vast majority via Roxham Road linking Quebec and New York State. Canada is a signatory to the international Refugee Convention under which Canada must adjudicate most refugee claims with limited exceptions. Speaking to reporters on Wednesday, Trudeau said his government had been trying to "close" Roxham Road for years by rewriting the STCA. Poilievre referenced a COVID-19 policy under which Canada turned back asylum-seekers crossing between ports of entry, a policy that was being challenged in court when it was rescinded.

☆ British supermarkets confront their German discounting demons
▼ + stars: | 2023-02-22 | by ( James Davey | ) www.reuters.com time to read: +5 min

And the discounters' supermarket sweep still has a long way to run, industry executives say, with Aldi UK CEO Giles Hurley pledging Britain's lowest prices "no matter what". "Over the Christmas period alone shoppers switched 58 million pounds ($70 million)(of purchases) to Lidl from Tesco and Sainsbury's," Lidl GB CEO Ryan McDonnell told Reuters. Tesco and Sainsbury's are now matching Aldi prices on hundreds of key items and using customer loyalty schemes, while they have accepted a profit hit to keep prices down. Sector executives, speaking on condition of anonymity, said the further rise of Aldi and Lidl is inexorable. "Nobody's going to take Tesco out but at some point somebody might take Sainsbury's out," the sector veteran said.

☆ Driving electric SUVs from Tesla, Kia, and Hyundai showed me why the Korean brands are gaining on Elon Musk
▼ + stars: | 2023-02-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

The Kia EV6 and Hyundai Ioniq 5 are some of the trendiest new electric vehicles challenging Tesla. The trendy Korean SUVs are stylish, fun, and technologically advanced — and are making trouble for Tesla's Model Y. The 2022 Hyundai Ioniq 5. The 2022 Kia EV6. The Tesla Model Y. Tim Levin/InsiderPlus, they drive greatThe Model Y accelerates like nobody's business and takes turns like a sports car.

☆ Tyre Nichols loved his family, photographing sunsets and skateboarding
▼ + stars: | 2023-01-28 | by ( Deon J. Hampton | Deon J. Hampton Is A National Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

MEMPHIS, Tenn. — He was an amateur photographer who loved skateboarding and watching sunsets darken the woods and ponds of his adopted hometown. RowVaughn Wells, mother of Tyre Nichols, cries at a news conference in Memphis on Monday. Photographing sunsets at Shelby Farms Park, an expansive green space in Memphis, was another passion, she said. She said at a news conference Friday that Nichols was driving home from Shelby Farms when he was pulled over. Nichols died Jan. 10, three days after the encounter with police that landed him in the hospital.

☆ Japan whaling firm pins hopes on vending machines to revive sales
▼ + stars: | 2023-01-24 | by ( Chris Gallagher | ) www.reuters.com time to read: +3 min

[1/6] A customer buys whale meat on the opening day of the shop by a Japanese whale-hunting company with vending machines, in Yokohama, Japan, January 24, 2023. REUTERS/Androniki ChristodoulouYOKOHAMA, Jan 24 (Reuters) - A Japanese whaling firm unveiled vending machines offering whale sashimi, whale steak and whale bacon in Yokohama on Tuesday in hopes of reviving sales of a food long in decline and shunned by many supermarkets. At its peak in 1962, annual whale meat consumption was 233,000 tonnes. Conservationists say moves to promote whale meat are desperate attempts to revive interest in a struggling business. Whale meat advocates point to its high protein content and low carbon footprint compared with other meats.

☆ Existing home sales fell for the 11th consecutive month in December, hitting the slowest pace since November 2010
▼ + stars: | 2023-01-20 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Sales of previously owned homes dropped 1.5% in December from the previous month, according to the National Association of Realtors. Sales ended the year at a seasonally adjusted, annualized pace of 4.02 million units, which was 34% lower than December 2021. It is the slowest pace since November 2010, when the nation was struggling through a housing crisis brought on by faulty subprime mortgages. While sales are down in all price categories, they are falling most sharply on the higher end. Sales of homes priced above $1 million were down 45% year over year, compared with sales of homes priced between $250,000 and $500,000, which were down 34%.

☆ Why the 4-day work week isn't the kind of perk most workers want: It's 'an upper-class issue'
▼ + stars: | 2023-01-20 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Four-day work week trials across the world have been successful for both employers and workers. But when it comes to the four-day work week, that's "an upper-class issue," Gennip said. "They're happy to do a 15-hour stretch, but they want an eight-hour break"Recent studies show that four-day work trials have been big successes. "We have Amazon workers who do four-day work weeks, but ten hours days, and they would prefer five eight-hour days." "Some people would rather have a five-day work week and have six weeks off," she said.

☆ Ground Zero worker urges Kevin McCarthy to punish George Santos for lying about his mom being a 9/11 victim
▼ + stars: | 2023-01-20 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

A Ground Zero worker called on House Speaker Kevin McCarthy to take action against Rep. George Santos. The worker, John Feal, called on House Speaker Kevin McCarthy to take action against Santos for the claim, one of a string of untruths which have unraveled since Santos took office. "Kevin McCarthy can easily fix this," he said. But immigration documents obtained by news organisations this week showed that Santos' mother told US authorities in 2003 that she had been in Brazil since 1999. McCarthy has said that Santos has the right to serve in Congress and has handed him committee assignments.

☆ I drove electric SUVs from Kia, Hyundai, and Tesla — and I see why the Korean brands are gaining on Elon Musk
▼ + stars: | 2023-01-18 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

☆ 3 tips on negotiating from Oscar-winner Octavia Spencer: 'I always get a raise'
▼ + stars: | 2023-01-18 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +4 min

Oscar-winner Octavia Spencer recently discussed her pay negotiation tactics in an interview. Spencer has been a vocal advocate of equal pay for women of color in Hollywood. Her perspective has remained straightforward on the topic: "Women and women of color have always lagged. While acknowledging that some negotiating is always necessary because, "Nobody's going to offer you what you're worth," she said, "I'm also not that negotiator who's going to go back and forth. If you can't come up to my price, there are so many other people that you can go to who probably will accept what you're offering.

"I asked them not to get distracted because there are other things happening in the state," Solorzano told NBC News. Sarah Huckabee Sanders surprised Solorzano as well as other Latinos in the state. "In regards to the [word] Latinx, I know that [it] is important for some people, but it’s not necessarily the general sentiment of the immigrant or Latino population. "It's been a challenge in this state to find any type of support for us — for trans Latinx migrants," Yambú said with a frustrated tone. For us, the word Latino, Hispanic, Latinx — we can use those interchangeable[ly].

☆ Rep. Tim Burchett said colleague Rep. Mike Rogers is a 'redneck' who 'shouldn't be drinking' following House floor brawl
▼ + stars: | 2023-01-08 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

GOP Rep. Tim Burchett called Rep. Mike Rogers a "redneck" after he lunged at Rep. Matt Gaetz on the House floor. Burchett went on to say that his colleague "shouldn't have crossed that line." C-SPAN cameras captured Rep. Rogers of Alabama lunging at Rep. Matt Gaetz and being restrained by Rep. Richard Hudson, after Gaetz had what appeared to be a tense exchange with Kevin McCarthy. "People shouldn't be drinking, especially when you're a redneck, on the House floor," Rep. Burchett told CNN's Kate Sullivan about the incident. Burchett went on to say that it was an "unfortunate moment" and that Rogers "shouldn't have crossed that line."

☆ ‘Quiet hiring’ will dominate the U.S. in 2023, says HR expert—and you need to prepare for it
▼ + stars: | 2023-01-04 | by ( Natasha Piñon | ) www.cnbc.com time to read: +3 min

A new year is here, and with it, a new workplace phenomenon that bosses and employees should prepare for: quiet hiring. Sometimes, it means hiring short-term contractors. Quiet hiring is all about that third category, even if it doesn't technically involve any new hiring at all. Alternatively, companies with few movable employees can hire short-term contractors to help keep things afloat throughout the year, which McRae refers to as "external quiet hiring." How to take advantage of quiet hiring

☆ The bond market turned in its worst performance ever this year
▼ + stars: | 2022-12-26 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

The bond market turned in its worst performance ever this year, a unique time when it provided little shelter from the storm in financial markets. Bonds have provided solace in the past, acting as ballast, cushioning portfolios from the worst stock market losses. With global central banks all on the same trajectory, the bond market was under extreme pressure. Rick Rieder, BlackRock's chief investment officer of global fixed income, said yields could still go higher but the bond market has gotten to a place where investors can find a good return . "I could buy general quality fixed income at 5.5% to 6% and sit in it," Rieder said.

☆ Cassidy Hutchinson secretly back-channeled with the Jan. 6 committee before blindsiding her Trump-aligned lawyer in a bombshell deposition
▼ + stars: | 2022-12-23 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +11 min

Hutchinson told the panel that her Trump-aligned lawyer advised her to mislead lawmakers. ""Look, we want to get you in, get you out," Hutchinson said Passantino told her before the appearance. Reach out to them," Hutchinson told the panel, paraphrasing what Passantino told her of a job offer connected to former top Trump aide Jason Miller. Hutchinson said she told Farah, who was also a former House aide, to back channel with the January 6 committee. Former Trump White House aide Cassidy Hutchinson arrives for her public testimony in front of the January 6 committee.

☆ Hope Hicks testifies Trump refused to tell supporters to be non-violent on January 6, instructing them instead to 'fight like hell'
▼ + stars: | 2022-12-19 | by ( Warren Rojas | ) www.businessinsider.com time to read: +2 min

Former Trump aide Hope Hicks said she and others urged Trump to decry any violence on January 6. Hicks told House select committee investigators that Donald Trump refused to listen. Trump commanded the MAGA mob that amassed in Washington that day to "fight like hell." Hicks met with House select committee members in October to share her insights into everything that happened that day. She told Trump that he'd lost and "nobody's convinced me otherwise," according to internal deliberations highlighted in the Trump-centric tome "The Divider: Trump in the White House, 2017-2021."

☆ The pink-slip parties of the dot-com bust helped laid-off tech workers get new jobs. They need to make a comeback.
▼ + stars: | 2022-12-17 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Allison Hemming started "pink-slip parties" in the early aughts after the dotcom bust. Back then, like now, tech workers lost their jobs en masse. Hemming began running regular meetups for laid-off tech workers — misery loves company, after all — giving them an opportunity to network and meet prospective hiring managers. Will the latest tech layoffs spur a return of pink-slip parties? The tech workers losing their jobs today have a nice runway because a lot of big nontech companies are still hiring.

☆ 'Bond King' Jeffrey Gundlach says the inflation threat is fading fast – and the Fed should end its interest-rate hikes now
▼ + stars: | 2022-12-15 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Billionaire investor Jeffrey Gundlach thinks the threat of inflation is quickly receding. He urged the Fed to stop hiking rates after Wednesday's move as there's been progress on inflation. The Fed isn't being transparent about its inflation target, Gundlach added, which he believes is "more like 3% now". With the economy weakening, I think the inflation rate is going to fall faster than most economists do," he added. "I secretly believe the Fed's inflation target is more like 3% now.

☆ Here's how the Federal Reserve confused the markets
▼ + stars: | 2022-12-15 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Markets had flip flopped Wednesday afternoon, after the Federal Reserve released its policy statement and new interest rate and economic forecasts. Swonk noted there is agreement among Fed officials to drive rates higher, and most officials forecast an end point for rates above 5% in 2023. Fed funds futures Thursday showed a high rate of 4.89% by next May, still below the Fed's target. Every month that goes by means there's somebody's debt that matures that's going to be needed to be refinanced at a higher rate." With the economy weakening, I think the inflation rate is going to fall faster than most economists do."

☆ Bond king Gundlach says the Fed should not do more rate hikes after the latest increase
▼ + stars: | 2022-12-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"I think they should not do any more hikes after today," Gundlach said on CNBC's " Closing Bell Overtime " Wednesday, adding that the central bank might do one more 25-basis-point rate increase. The so-called bond king said the central bank will be "highly encouraged" by the inflation data in the next six months. With the economy weakening, I think the inflation rate is going to fall faster than most economists do." Fed Chairman Jerome Powell said during a news conference Wednesday that the central bank will stay the course until the job is done. Many economists view the 2-year 10-year part of the yield curve as more predictive of a potential recession.

☆ Fintechs are opening up access to alternative investments previously reserved for sophisticated investors, but some VCs question if that's a good thing
▼ + stars: | 2022-11-28 | by ( Asia Martin | ) www.businessinsider.com time to read: +8 min

But some don't think retail investors are ready for the level of risk in the asset class. Alternative investments, as the name suggests, is an asset outside of traditional investments like stocks, bonds, and cash. Investors choose from private-equity funds, venture capital, hedge funds, real estate, and art, among other areas. Such returns have attracted state pension funds, university endowments, and, most recently, individual investors from the ultra-high-net-worth to the Joe Schmoes. Companies like iCapital, Allocate, RealBlocks and CAIS (pronounced case) launched to help wealth-management firms usher their clients into sought-after private market funds.

☆ FTX collapse an example of ‘greed and FOMO,’ says short-seller Carson Block
▼ + stars: | 2022-11-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Carson Block, founder of short selling investment firm Muddy Waters, thinks the collapse of cryptocurrency exchange FTX under Sam Bankman-Fried is a "great example of greed and FOMO." Block told CNBC's "The Exchange" he had seen the business trajectory of the former billionaire and thought there was "obviously something wrong." Block is a crypto sceptic who described the recent surge into the industry as a bubble based on a "suspension of disbelief." His comments come amid a war of words in the crypto sphere as it grapples with the recent volatility. At an event hosted by CNBC on Thursday, Changpeng Zhao, founder of cryptocurrency exchange Binance, said he was "shocked" that Bankman-Fried "lied to everybody," and described his actions as "fraud."

☆ Charlie Munger says crypto is a bad combo of fraud and delusion — 'good for kidnappers'
▼ + stars: | 2022-11-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway Vice Chairman Charlie Munger, a longtime cryptocurrency skeptic, said digital currencies are a malicious combination of fraud and delusion. The country did not need a currency that was good for kidnappers," Munger said in an interview with CNBC's Becky Quick. I think that's totally crazy. Partly fraud and partly delusion. "Good ideas, carried to wretched excess, become bad ideas," Munger said.

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