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☆ First Republic teeters on the edge — again
▼ + stars: | 2023-04-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —First Republic Bank’s fate is looking grim. The bank’s stock has plummeted about 75% this week, after a disappointing first-quarter earnings report Monday revived Wall Street’s fears about a banking crisis and catalyzed an exodus out of First Republic stock. About two-thirds of First Republic’s deposits were uninsured with the FDIC when the banking turmoil took hold in March, lower than the 94% at Silicon Valley Bank. But at the end of 2022, First Republic had a whopping ratio of 111% for loans and long-term investments to deposits, according to S&P Global. Déjà vuFirst Republic’s fight for survival comes just over a month after Silicon Valley Bank’s collapse on March 10.

regulators reached out to their European Union counterparts, according to emails that were obtained through a Freedom of Information request. That April, the Europeans asserted jurisdiction using a novel theory, asserting that the combination would stifle innovation in the E.U. claims that conforming to the European financial regulations — rules based on directives of the European Parliament and intended to drive social objectives — is a laudable goal. The Federal Reserve and other financial regulators face virtually constant pressure from members of Congress and international bodies to import similar, sweeping E.U. If these were isolated examples of abdication of regulatory authority to Europe, we might shrug it off.

☆ What Tucker Carlson Leaves Behind as He Is Shown the Door
▼ + stars: | 2023-04-24 | by ( Nicholas Confessore | ) www.nytimes.com time to read: +2 min

Mr. Carlson’s departure upended Fox’s lucrative prime-time lineup and shocked a media world far more accustomed to his remarkable staying power. When Russia invaded Ukraine, Mr. Carlson’s show frequently promoted the Kremlin’s point of view, attacking U.S. sanctions and blaming the conflict on American designs for expanding NATO. The drought of premium advertisers on “Tucker Carlson Tonight” — driven away by boycotts targeting his more racist and inflammatory segments — did not seem to dent his standing within the network, so long as the audience stuck around. Disdainful of the cable network’s top executives, Mr. Carlson cultivated the impression that he was close to the Murdoch family and, perhaps, untouchable. But he prospered in tandem with Mr. Trump’s presidency, as the New York real estate tycoon made frank nativism and seething cultural resentment the primary touchstones of conservative politics.

☆ How Elon Musk transformed Twitter’s blue check from status symbol into a badge of shame
▼ + stars: | 2023-04-24 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

Over the weekend, numerous high-profile people announced — with apparent despair — that they too had been “punished” with verification badges. Twitter Verified account seen in an iPhone screen in Vancouver, Canada, on Dec. 9 2022. Instead of conveying authenticity, Twitter verification is now fraught with multiple conflicting messages. For weeks, many legacy verified users had signaled they would not be paying for Twitter Blue. It doesn’t benefit Twitter for celebrity accounts to be buried along with the other non-paying accounts Musk has said the platform will demote.

☆ The Champions League Ventures Down Memory Lane
▼ + stars: | 2023-04-21 | by ( Rory Smith | ) www.nytimes.com time to read: +2 min

Bayern Munich will not take this well. The club is unlikely to shrug its shoulders at being eliminated from not only the Champions League but the German cup, too, in the space of a few days. Thomas Tuchel, freshly installed as Nagelsmann’s replacement, should be safe for now, but all around him will be a blur of change. There was a sense, watching Manchester City hold Bayern at bay on Wednesday evening, of two clubs moving in opposite directions. Like Juventus and Barcelona before it, Bayern Munich will at some point bow to, or be bowed by, England’s economic primacy.

☆ Opinion | There Is Plastic In Our Flesh
▼ + stars: | 2023-04-20 | by ( Mark O Connell | ) www.nytimes.com time to read: +6 min

(Later in the same article, the environmental scientist who makes this recommendation also counsels against instilling fear in our children.) Joe Rogan, perhaps our culture’s foremost vector of meathead masculinity, has been talking about the topic for several years. Not only were the taints of infants shrinking at an alarming rate; so, too, were penises and testicles themselves. Maybe it’s microplastics that are stopping you and your partner from conceiving, or making you lazy and lethargic, or forgetful beyond your years. Maybe it’s microplastics that caused the cancer in your stomach, or your brain.

☆ Netflix may shrug at writers' strike after slashing content spending in first quarter
▼ + stars: | 2023-04-18 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Like other media companies, Netflix appears focused on boosting free cash flow rather than cranking up spending to add more subscribers. But if that amount is cut, Netflix's new investor story of boosting free cash flow may not be derailed. The company nonetheless hopes to avoid a writers' strike, co-CEO Ted Sarandos said during Netflix's earnings video presentation Tuesday. A writers' strike could put more emphasis on Netflix adding live programming — something the company is clearly still struggling with. Still, Netflix seems prepared to weather a writers' strike — because it's already getting permission from investors to cut content spend without one.

☆ Where to watch Napoli vs. AC Milan live stream for free online from anywhere
▼ + stars: | 2023-04-18 | by ( Brendan Griffiths | Senior Commerce Director | ) www.businessinsider.com time to read: +5 min

We can get you all set up on how to watch Napoli vs. AC Milan live stream for free too via a local Italian TV option or a free trial in the US. Where to watch Napoli vs. AC Milan in CanadaSoccer fans in Canada will need to stump up some extra cash to enjoy a Champions League live stream of Napoli vs. AC Milan tonight, as DAZN Canada holds the local viewing rights. Napoli vs. AC Milan free live streamThere are two free options available today. Another option to watch Napoli vs AC Milan for free online is to tune into the Italian channel, Canale 5, as it's showing a live stream free of charge. How to watch Napoli vs AC Milan with a VPNSign up for a VPN if you don't have one.

Administration officials believe the U.S., the world's largest oil consumer and global economy have entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. Oil prices slipped on Thursday as the prospect of a possible recession in the US offset concerns of tight supply. Slowing economy or not, the OPEC move could still complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

Administration officials believe the U.S. and global economy has now entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. The OPEC move could complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. The recent U.S. banking crisis has added another layer of uncertainty to global and U.S. forecasts as well, forecasters warn. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

☆ Elon Musk says Warren Buffett should run the US Treasury - and the investor could do the job in under 1 hour per week
▼ + stars: | 2023-04-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk would prefer Warren Buffett to be US Treasury secretary instead of Janet Yellen. The Tesla chief said the Berkshire Hathaway boss could do the job in less than 1 hour per week. "Probably Buffett," Musk tweeted. "Any highly successful investor with a long track record would do a good job – the job is essentially fund management at scale," he added. As for Buffett, he's questioned Musk's Twitter habit in the past, and jokingly challenged the auto executive to take on Berkshire in the candy business.

☆ Ether is rallying ahead of major upgrade that will let holders more easily access their tokens
▼ + stars: | 2023-04-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merge, ether prices have dropped following a huge run up ahead of the event. Ether has spiked this week to a nine-month high, ahead of a major network upgrade that some crypto enthusiasts say will make the digital currency a more profitable long-term investment. Currently, over 18 million ether tokens worth about $32.5 billion are staked, meaning that 15% of ether's total supply are considered locked assets. That could signal a buildup of bearish bets leading up to the network upgrade.

☆ Bats Shrug Off Viruses and Rarely Get Cancer. We’re Trying to Learn From Them.
▼ + stars: | 2023-04-04 | by ( Betsy Mckay | Photographs Dylan Nelson For The Wall Street Journal | ) www.wsj.com time to read: 1 min

To many people, bats are a terrifying menace, vampirish carriers of dangerous viruses—including, likely, an ancestor to Covid-19. But to researchers and biotech investors, they are a miracle mammal that could help prevent pandemics and reveal blockbuster treatments for deadly human diseases or to slow aging.

☆ How to watch Joshua vs. Franklin: live stream boxing online
▼ + stars: | 2023-04-01 | by ( Brendan Griffiths | Senior Commerce Director | ) www.businessinsider.com time to read: +4 min

No belts are on the line, but career prospects certainly are, so take a look at our global guide on how to watch a Joshua vs. Franklin live stream today. An Anthony Joshua vs. Jermaine Franklin live stream might be the biggest professional heavyweight bout we see for a while. Where to watch Joshua vs. Franklin live stream (US)You can catch a US live stream of Joshua vs. Franklin today live on DAZN. How to watch Joshua vs. Franklin live stream (UK)UK boxing fans can also catch the Joshua vs. Franklin live stream from DAZN. How to watch Joshua vs. Franklin online with a VPNSign up for a VPN if you don't have one.

☆ Bitcoin climbs 5% above $28,000 as investors shrug off regulatory crackdowns
▼ + stars: | 2023-03-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Industry insiders said the bank collapses have sent investors looking for alternatives to the traditional banking system and there is also anticipation of a slowdown in interest rate rises, which is helping bitcoin. Bitcoin climbed sharply Wednesday as investors shrugged off initial fears surrounding U.S. regulators' crackdowns on industry giants and became willing to take some risk. Bitcoin has retaken the $28,000 level after dipping below it on Monday following news of the U.S. Commodity Futures Trading Commission FTC's lawsuit against Binance. Investors have taken some comfort from the thought of a reversal in the U.S. Federal Reserve's interest rate hiking moves, which put pressure on risk assets like stocks. Bitcoin has been known to follow movements in equity markets, with investors treating it like more of a traditional risk asset.

☆ No Trump bump in New Hampshire as possible criminal charges loom
▼ + stars: | 2023-03-24 | by ( Nathan Layne | ) www.reuters.com time to read: +5 min

LACONIA, New Hampshire, March 24 (Reuters) - Longtime Donald Trump supporter Doug Lambert agrees with the former president that the potential criminal charges he faces in New York are being cooked up by his enemies on the left. But, Lambert worries about the "messiness" of a Trump presidential candidacy and is leaning towards voting for someone else. In a University of New Hampshire poll in January, likely Republican voters preferred DeSantis over Trump by a 12-point margin, 42% to 30%, with Sununu at 4%. "The more indictments, the more points of leverage a DeSantis or whoever can use to make the case against Trump." Reporting by Nathan Layne in Laconia, New Hampshire Editing by Ross Colvin and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

☆ 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."

☆ UK markets shrug off Hunt's budget; bank turmoil in focus
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 15 (Reuters) - British markets, roiled by concerns about European banks after shares in Credit Suisse fell 30%, showed little reaction to Chancellor Jeremy Hunt's budget on Wednesday. The pound picked up slightly against the euro as Hunt delivered the budget, in which he said Britain's official forecaster expected the economy to avoid recession this year. The euro fell to a session low of 87.25 pence as Hunt talked. However, the euro had already fallen sharply, with a big drop in European bank stocks spooking investors that were already on edge since the collapse of U.S. lender Silicon Valley Bank late last week. Britain's FTSE 100 (.FTSE) stock index was down 3.05%, with financial companies leading the falls.

☆ US stocks rise as bank shares rebound and CPI shows inflation continues to cool
▼ + stars: | 2023-03-14 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

US stocks closed higher on cooling inflation data as trader shrug off concerns of a potential regional bank crisis. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Regional bank stocks soared after cratering on Monday from the collapse of SVB and Signature Bank. The succession of bank failures has sparked heightened speculation the central bank will take a more dovish stance on monetary tightening. Here's where US indexes stood shortly after the 4:00 p.m. close on Tuesday:Here's what else happened today:In commodities, bonds and crypto:

☆ AI might revolutionize how we borrow money. But is that a good thing?
▼ + stars: | 2023-03-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

But a recent report by Credit Suisse on the use cases for both ChatGPT and AI in finance caught my eye. AI models are only as good as the data they receive, which leaves them susceptible to bias, just like humans. A top-performing hedge fund is looking to team up with one of the hottest tech tools. Izzy Englander's Millennium Management told clients that it'll expect to get paid regardless of whether the hedge fund actually makes money for its investors, according to Bloomberg. The billionaire hedge fund manager believes all signs are pointing towards a recession.

☆ CNBC Daily Open: The Nasdaq popped last week. But tech might be in trouble
▼ + stars: | 2023-03-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The Nasdaq outpaced other indexes last week. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That makes two straight months that the Nasdaq has outpaced the other indexes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: The Nasdaq soared last week. But tech might be in trouble
▼ + stars: | 2023-03-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The Nasdaq Composite outpaced other indexes last week. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. That makes two straight months that the Nasdaq has outpaced the other indexes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ All investors need a worldview. Here's mine and how to think about developing your own
▼ + stars: | 2023-02-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +23 min

You need to know what you think will happen and then you can insert stocks into that worldview. I think this view, which Jay cares and is most likely going to get it right, is fundamental to my worldview. I think that's an absurd tradeoff and those who are making it, those who own 10-year Treasurys, are sorely ill-advised. Fortunately, I don't think the Fed has to go that far to break the trio. The companies you think might not make it I think aren't going to make it because they won't be able to raise cash.

☆ Dorsey-led Block's revenue rises as consumers shrug off inflationary pressures
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Shares of Block, formerly called Square, reversed course to rise 3% in volatile extended trading after results. Consumers were largely resilient to inflationary pressures throughout 2022, helping sustain the company's mainstay online payments service, known as CashApp. For the full-year Block's bitcoin revenue fell nearly 29% to $7.11 billion, as prices of the cryptocurrency retreated amid heavy market volatility triggered by a risk off sentiment and a slew of big name collapses. The company reported net revenue of $4.65 billion in the three months ended Dec. 31, compared with $4.08 billion a year earlier. Reporting by Manya Saini in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Sweet-toothed Poles shrug off inflation bellyache on 'Fat Thursday'
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

[1/3] Doughnuts are displayed during Fat Thursday, traditional celebrations when Poles eat doughnuts marking the last Thursday before the start of Lent, at a bakery in Warsaw, Poland February 11, 2021. REUTERS/Kacper PempelWARSAW, Feb 16 (Reuters) - Poles formed long queues to buy doughnuts on their "Fat Thursday", piling in for the sugary treats even though double-digit inflation has taken a bite out of their income. On the last Thursday before Lent, the period when Christians traditionally fast before Easter, Poles stuff their faces with doughnuts in a festival of calorific indulgence. "Last Fat Thursday, doughnuts cost 3.50 zlotys ($0.78) each," said Syliwa Tomaszkiewicz, 45, owner of the Zagozdzinski Confectionery Workshop. For 73-year-old pensioner Jadwiga Staniewska, it was important to keep the tradition of Fat Thursday alive.

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