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☆ DeSantis digs Trump after the ex-president blamed a tornado threat for canceling a dueling rally in Iowa
▼ + stars: | 2023-05-14 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

DeSantis and Trump were both set to appear in Iowa on Saturday. Ron DeSantis of Florida and former president Donald Trump this weekend in Iowa. Trump canceled his event in Des Moines, blaming tornado warnings. After headlining two events in Iowa, DeSantis made an unscheduled stop at Jethro's BBQ Southside, a barbeque joint in Des Moines near where Trump had been scheduled to speak. "It's a beautiful night," DeSantis remarked in Des Moines, according to the New York Times.

☆ US Women's Open: Nine-year-old Brazilian Bella Simoes becomes youngest ever to attempt qualification
▼ + stars: | 2023-05-10 | by ( Jack Bantock | ) edition.cnn.com time to read: +7 min

At nine years old, the Brazilian is the youngest player ever to attempt qualification to the tournament, set to tee off at California’s acclaimed Pebble Beach course for the first time in its 78-year history in July. Follow along @FSGA ➡️ https://t.co/622czXdhXk pic.twitter.com/4aYolLLL21 — U.S. Women's Open (USGA) (@uswomensopen) May 9, 2023Yet that should come as no surprise given Simões’ already-impressive résumé. Aged 14 in 2004, she bested many of the world's top men's players' and major winners at the Sony Open (pictured) despite narrowly missing the cut. The Brazilian shot 23-over par, as two players – Lindy Duncan and Brooke Matthews – secured automatic qualification with scores of 10-under and 8-under respectively. Kimberly Williams, a 60-year-old pro from Bethesda, Maryland, was the oldest player to attempt qualification this year, according to the USGA.

Guggenheim says Shoals Technologies is poised to see big market share gains as demand grows. Shoals produces electric balance of system, or EBOS, components for solar energy projects. The solar energy tech company's adjusted first-quarter earnings and revenue topped analysts' estimates. "Demand is solid, but we think SHLS's success is also driven by market share gains. The analyst noted that Shoals hasn't been willing to offer any details on the magnitude of its other business efforts besides solar energy.

☆ Inside Wells Fargo's 'chaotic' journey to transform its services for the ultrarich
▼ + stars: | 2023-05-04 | by ( Hayley Cuccinello | Reed Alexander | ) www.businessinsider.com time to read: +23 min

In late 2020, some 300 Wells Fargo employees were summoned to a conference call. "I actually welcomed that, although I did like Abbot Downing," he said of folding Abbot Downing into the private bank. One team of legacy Abbot Downing employees with $3.5 billion in assets left for Hirtle Callaghan in June 2021. Today, Ginter runs a registered investment advisor called Callan Family Office, which some former Abbot Downing employees refer to as "the new Abbot Downing." Are you a current or former client of Wells Fargo Private Bank or Abbot Downing?

☆ First Republic stock craters 49% after the bank reveals customers pulled out $100 billion of deposits last quarter
▼ + stars: | 2023-04-25 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

First Republic shares fell 49% Tuesday on the back of dire first-quarter earnings. The regional bank's customers pulled out more than $100 billion worth of deposits last quarter. First Republic plans to lay off around 25% of its workforce during the second quarter. Without that lifeline, First Republic's deposit outflows would have totaled $102 billion – which equates to around 41% of the customer deposits it held prior to the first quarter, according to Deutsche Bank. "With the closure of several banks in March, we experienced unprecedented deposit outflows," the San Francisco-based bank's CFO Neal Holland said after Monday's earnings release.

☆ NCAA star Angel Reese says playing at LSU is more lucrative than the WNBA—and she wants to splurge on a Mercedes-Benz
▼ + stars: | 2023-04-11 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

NCAA basketball champion Angel Reese isn't fast-tracking her college career, even if she had the option to go pro. "I'm in no rush to go to the league," Reese, 20, recently told the "I Am Athlete" podcast. That's more than any other college basketball player, the report says. Reese knows exactly what she wants to spend her newly gained fortune on, too: a Mercedes-Benz, she said on the podcast. "My first year [in college], I was just taking money," Reese said.

☆ Russia's economy is becoming more 'primitive' and war could push it to the same fate as the Soviet Union, says economist targeted by Moscow
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Economist Konstantin Sonin said the Russian economy has become more primitive since the war began, Russian news outlet Novaya Gazeta reported. The economist, who Moscow placed on its wanted list, said Russia could follow the Soviet Union's path toward "complete economic implosion." "Everything that is happening makes the Russian economy more primitive, more backwards." "Everything that is happening makes the Russian economy more primitive, more backwards," Konstantin said. And I think we are seriously going to follow the Soviet Union's path from the 1970s to the complete economic implosion of the late 1980s."

☆ The Russian economy is much worse than it appears as Moscow's data is a 'collection of lies and distortions,' economist says
▼ + stars: | 2023-04-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Russia's economic data is full of 'lies and distortions,' economist Alexei Bayer wrote. "Russian economic statistics are a collection of lies and distortions," he wrote in the Jerusalem Post. But those estimates are based on official data from the Russian government, said Bayer, who pointed to consumer inflation numbers. "During the Cold War, the CIA concluded, using Soviet statistics, that the Soviet Union had the world's second-largest economy," he wrote. "When communism collapsed, Russia's economy turned out to be not much larger than Portugal's."

☆ Starbucks union is using billboards, a brass band and a butter sculpture to pressure board members from Nike, Land O'Lakes and Lego
▼ + stars: | 2023-04-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Starbucks union organizers are stepping up pressure on individual members of the company's board. Leaders at Nike, Lego, and Land O' Lakes were targeted using billboards, a movie trailer, a brass band, and even a butter sculpture. The push comes a week after shareholders voted in favor of an investigation into Starbucks' labor practices. Meanwhile, in Los Angeles and online, a Lego Movie-styled trailer premiered with the aim of enlisting Lego President Jorgen Vig Knudstorp to join the side of Starbucks workers. And now, those tensions are spilling over to other companies as the union targets Starbucks' board of directors.

☆ A judge ordered Trump's lawyer to give more testimony in Mar-a-Lago classified documents probe: report
▼ + stars: | 2023-03-17 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +2 min

A federal judge ordered Trump's lawyer to provide more grand jury testimony in the Mar-a-Lago case. The DOJ is investigating whether Trump potentially mishandled classified documents. The judge rejected Trump's lawyers claims of attorney-client privilege. The ruling compels Corcoran to provide additional testimony before the grand jury investigating the classified documents case — one of at least four major ongoing criminal inquiries involving Trump. Georgia's Fulton County is also investigating Trump and his allies' efforts to overturn the state's 2020 elections results.

☆ Ex-Wells Fargo exec who pushed bankers to open fake accounts will plead guilty. She'll pay a $17 million fine — and faces more than a year in prison.
▼ + stars: | 2023-03-16 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

A former Wells Fargo exec agreed to plead guilty to charges she obstructed a bank examination. Carrie Tolstedt, who led the bank's retail division, will pay a $17M fine and faces prison time. She is the first exec to be criminally charged in the bank's scandal involving unauthorized accounts. The plea agreement calls for Tolstedt to serve up to 16 months in prison. Tolstedt is the first Wells Fargo executive to be criminally charged for the scandal.

☆ Trump thinks an indictment will help him. It'll give DeSantis and Pence major headaches about how to respond.
▼ + stars: | 2023-03-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump's indictment might appear to open the door to the Republican Party ridding themselves of him. Trump thinks the GOP voters will stand with him. The most recent national poll of Republican voters found that 77% have a favorable view of him. Among key parts of the GOP primary coalition, Trump continues to do quite well. An earlier CNN-SSRS poll found a narrower race between Trump, DeSantis, and the rest of the field, but it also showed that 34% of self-described white evangelicals would name Trump as their preferred pick for the nominee.

☆ SAP-controlled Qualtrics accepts $12.5 bln offer from Silver Lake, CPPIB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - Qualtrics International Inc (XM.O) said on Monday it will go private after the customer survey software maker's controlling shareholder, SAP SE (SAPG.DE), accepted a $12.5 billion bid from an investor consortium led by Silver Lake and Canada Pension Plan Investment Board (CPPIB). SAP agreed to the consortium's $18.15-per-share offer for Qualtrics, saying it would get about $7.7 billion for its stake. Qualtrics said earlier this month it would negotiate on an exclusive basis with Silver Lake and CPPIB until March 15 to see whether a deal could be finalized. Silver Lake Partners currently holds a 13.94% stake in Qualtrics. In 2018, SAP bought Qualtrics for $8 billion and three years later listed it in New York.

☆ Meet the brothers building massive spacecraft to leverage SpaceX’s Starship
▼ + stars: | 2023-03-10 | by ( Michael Sheetz | ) www.cnbc.com time to read: +4 min

What we're finding is that, with the new launch capabilities of vehicles like Starship, there's actually an interesting opportunity to go the opposite direction," Karan Kunjur told CNBC. Los Angeles-based startup K2 Space, co-founded by CEO Karan Kunjur and CTO Neel Kunjur, is setting out to build satellite buses — the physical structure of a spacecraft that provides power, movement and more. A pair of brothers is aiming to challenge the way spacecraft are built, by going against the industry trend and designing massive satellites in a bet that towering rockets such as SpaceX's Starship are the way forward. K2 Space, a play on the brothers' surname and a nod to astronomer Nikolai Kardashev's scales of civilization, marks Karan and Neel's first venture together and fuses their previously divergent careers. For K2, the company is targeting prices that would be unheard of for satellite buses of these sizes.

☆ Qualtrics' $12.4 billion buyout deal could set a 2023 record
▼ + stars: | 2023-03-08 | 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 EmailQualtrics' $12.4 billion buyout deal could set a 2023 recordCNBC's Deirdre Bosa joins 'Power Lunch' to discuss the Qualtrics buyout proposal, software stocks looking to go private and macro economic concerns creating a difficult buyout and financing environment.

☆ Gourmet fish bladder races chicken, beef to profitability in Singapore's lab meat push
▼ + stars: | 2023-03-06 | by ( Chen Lin | ) www.reuters.com time to read: +5 min

Two years after Singapore greenlighted lab-grown meat for human consumption, mass production has yet to start. The technological, regulatory and scale barriers to entry for cultivated meat are very high compared to plant-based meat, said Didier Toubia, chief executive of Israel's Aleph Farms, which makes cultivated beef steak. "It's too high and it's embarrassing ... We lose money every time someone enjoys our cultivated chicken," Eat Just CEO Josh Tetrick said. Hong Kong-based Avant Meats is more bullish than Eat Just, with ambitions to make a premium food, cultivated fish maw. Fish maw is the swim bladder of a fish, a delicacy prized in China that could fetch up to thousands of dollars per kilogram, depending on its grade.

☆ Salesforce CEO asks if tech execs should 'unleash' their inner Elon Musk. Experts say that's an awful idea.
▼ + stars: | 2023-03-05 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Scott Latham, a strategic management professor at the University of Massachusetts Lowell, called Musk's leadership "incredibly dysfunctional." He said he's never seen a company recover from the type of drastic cuts Musk initiated at Twitter. "Every CEO in Silicon Valley has looked at what Elon Musk has done and has asked themselves, 'Do they need to unleash their own Elon within them?'" If you're going to have a successful company, you need good employees and good employees typically have options. "If more companies start treating their employees like Musk has, that would be a very grim future," Alon-Beck said.

☆ Some FBI agents wanted to believe Donald Trump returned all classified documents and close the criminal investigation 2 months before the Mar-a-Lago raid uncovered more sensitive material, The Washing
▼ + stars: | 2023-03-02 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

The FBI raided Donald Trump's Mar-a-Lago home to recover classified documents on August 2022. Before the search, FBI agents were reluctant to conduct a surprise raid, per The Washington Post. Some agents wanted to believe Trump's lawyer's claims that they'd already conducted a thorough search. On June 3, 2022, a few FBI agents and a DOJ official convened at Mar-a-Lago to retrieve remaining classified documents that were in Trump's possession. Legal experts told The Post that FBI agents may have not been able to recover the classified documents if the criminal case was closed earlier in June.

☆ Investor David Einhorn, whose hedge fund was up nearly 37% last year, gives his favorite longs
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn is continuing to bet on some of the long stocks that helped his hedge fund outperform in last year's market rout. That includes CONSOL Energy , a coal stock that was among the hedge fund's biggest long positions and winners in 2022. The comments from Einhorn come after the star hedge fund manager posted a solid end to 2022 by betting on inflation and against growth bubble names. His hedge fund surged nearly 37% due in part to long positions in names like Atlas Air Worldwide , Teck Resources and Twitter, before its acquisition. Green Brick Partners and Danimer Scientific marked the hedge fund's only two significant losing long positions 2022, he wrote in his January letter.

☆ Meet 23 rising stars in public relations at top brands and agencies like CBS News and Bryson Gillette
▼ + stars: | 2023-02-27 | by ( Michael Kaminer | ) www.businessinsider.com time to read: +1 min

Companies rely on the public relations industry for help burnishing their reputations and staying on trend. Insider identified the latest group of rising stars in PR who can craft a killer pitch, polish clients' reputations, and more. Insider has identified 23 rising stars in the PR industry who are meeting the challenge. Other rising stars are in-house, helping brands grow, managing comms teams, and working directly with CEOs. Two more rising stars are founders who left agency careers to run their own shops.

☆ Woody Harrelson Can Play Anyone. It’s Being Himself That’s Hard.
▼ + stars: | 2023-02-27 | by ( David Marchese | ) www.nytimes.com time to read: +17 min

“I’m an A personality and a B facade,” says Woody Harrelson, and that’s as good an explanation for his charm and success as you’re likely to find. I don’t know. I could go hang off one of those big mountaintop-remover coal things, but that’s not going to stop it. I meet with the director, and I’m going to do it — they’re making it for like $500,000 — then the guy just goes with someone else! I have a gluttonous side, and I know that’s not going to help me be a spiritually better person.

☆ Premarket stocks: Don't underestimate the American shopper
▼ + stars: | 2023-02-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All that extra cash should support strong spending through February and perhaps March, said Bank of America analysts. That means the Fed may use the strong data as an excuse to keep hiking interest rates. Recession risk may be deferred, but it certainly hasn’t dissipated.”PPI, housing starts and bald spots: What investors are watching today▸ Thursday morning brings two big data releases: The January Producer Price Index and housing starts. ▸ Housing starts, a measure of new home construction, have declined every month since August. Housing starts are expected to decline slightly.

☆ The DOJ will brief lawmakers on the classified documents recovered from Trump and Biden
▼ + stars: | 2023-02-15 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +4 min

The DOJ will brief some lawmakers on the nature of the classified records recovered from Trump and Biden. The DOJ has so far resisted bipartisan calls from lawmakers to get access to the documents themselves. FBI personnel swept Biden's properties at least three times as part of its investigation into his handling of classified documents. The documents were turned over to the Archives shortly after, and the FBI also searched the office in mid-November and began assessing whether classified documents had been mishandled. Trump, meanwhile, is facing his own criminal investigation after the FBI executed a search warrant at his Mar-a-Lago property last August and recovered troves of classified documents that Trump had resisted turning over to the government.

☆ NFTs are back, and this time they could wreck havoc on the crypto market
▼ + stars: | 2023-02-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Imagine if it's actually a way to serve fast food without you realizing it. Bored Ape Yacht Club NFTs in Times Square during an NFT conference in June. Look, the idea of borrowing against artwork is actually a well established, and smart, way to manage your money. Crypto's track record with risk management leaves a lot to be desired, and crypto lenders haven't exactly been crushing it. Here's more on how the bankrupt crypto exchange is trying to take back the $90 million in political donations.

☆ Britain’s NHS was once idolized. Now its worst-ever crisis is fueling a boom in private health care
▼ + stars: | 2023-02-06 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

Private hospital groups flourishTo keep up with growing demand for their services, private health care providers are expanding at a rapid clip. CEO Justin Ash estimates that the market for private health care in the United Kingdom has doubled since before the pandemic to 15 million people. Ash said that appetite for private health care spans a much broader set of ages and incomes than in the past. “We’ve clearly moved into a world in which we’re all NHS patients but have episodes of private care,” he said. There is no universal health care in America and most people have private health insurance because health care is very expensive.

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