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☆ Some bosses are using the threat of a possible recession this year to give workers an ultimatum: Come back to the office or be fired
▼ + stars: | 2023-01-03 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

Some companies have been threatening to fire workers who don't return to the office, The Wall Street Journal reported. Bosses are gaining leverage over employees due to recession anxiety. But most people will likely keep their jobs in the event of a recession, experts say. That's because the recession that could hit this year is giving employers a leg to stand on in their pandemic-long fight to get workers back in the office. A survey from Insight Global last summer found that 78% of US workers are worried about losing their jobs during the next recession.

☆ In Nigeria's long war, a young woman is brutalised by both sides
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +16 min

It was a pleasant evening in the summer of 2014, in her Nigerian village near the Cameroon border. Reuters could not reach representatives of Boko Haram or its offshoot, Islamic State West Africa Province, for comment. But by October 2014, the militants were enforcing extreme sharia law in her village, Aisha said. Boko Haram men often came looking for them, knocking on their door and forcing them to hide. But she did not believe she could do so with Bana, as boys were particularly valued in the Boko Haram community.

☆ How and where to use your travel points for a ski vacation
▼ + stars: | 2022-12-07 | by ( Jennifer Yellin | ) edition.cnn.com time to read: +23 min

Marriott Bonvoy ski vacation hotelsOf the three major hotel chains in the US, Marriott has the largest number of properties catered toward ski vacations. Points required: A Category 7 property, requiring 25,000 to 35,000 World of Hyatt points per night. Points required: A Category 6 property, requiring 21,000 to 29,000 World of Hyatt points per night. Points required: A Category 7 property, requiring 25,000 to 35,000 World of Hyatt points per night. Points required: A Category 6 property, requiring From 21,000 to 29,000 World of Hyatt points per night.

☆ Factbox: Global banks take axe to jobs as cost pressures mount
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +4 min

LONDON, Dec 2 (Reuters) - Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs. Rising cost pressures as a result of inflation and shrinking revenues in many core business lines amid volatile markets are making bank bosses nervous about profitability in 2023. CITIGROUPCiti (C.N) eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported on Nov.8. CREDIT SUISSECredit Suisse (CSGN.S) is accelerating cost cuts announced just weeks ago, Chairman Axel Lehmann said on Dec. 2, confirming a Reuters report, as the bank races to slash its cost base by around 2.5 billion Swiss francs ($2.68 billion). DEUTSCHE BANKDeutsche Bank (DBKGn.DE), Germany's largest bank, cut staff in its investment bank's origination and advisory teams in October, in a move than affected mostly junior bankers.

☆ NBCUniversal layoffs are coming in January, with cuts expected mainly in broadcast and cable TV groups
▼ + stars: | 2022-11-28 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Layoffs will come in ad sales and marketing in the linear TV business but aren't expected to affect theme parks. NBCUniversal is the latest major media corporation to plan layoffs, according to two company insiders and a third person closely familiar with plans. The axe will fall mainly in ad sales, marketing, and back-end functions at the traditional broadcast and cable business units, but will come division by division, two people said. The company is looking for $1 billion in cuts across the TV networks, according to a Bloomberg report. Paramount Global also conducted layoffs last week, mainly in ad sales in New York and Los Angeles.

☆ How radio DJs are using TikTok to find new listeners as the app takes over music discovery
▼ + stars: | 2022-11-23 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

"If you can incorporate a TikTok Live while you're actually live on the air broadcasting, there's something really cool about it," he said. She added: "I noticed a huge spike in the people that were listening to my radio station or that just knew of the radio station. Like other incumbents in the music world, radio companies are now determining the best way to use TikTok to grow their businesses. Meanwhile, SiriusXM, which streams over satellite, digital, and via partnerships with auto manufacturers, launched last year a dedicated TikTok radio channel in partnership with the short-video app. As for the radio talent themselves, they're well aware of the impact that TikTok can have on their careers.

☆ NBCUniversal layoffs are coming in January
▼ + stars: | 2022-11-22 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +3 min

Layoffs will come in ad sales and marketing in the linear television business but won't affect theme parks. NBCUniversal is the latest major media corporation to plan layoffs, according to two company insiders and a third person closely familiar with plans. The axe will fall mainly in ad sales, marketing, and back-end functions at the traditional broadcast and cable business units, but will come division by division, two people said. Paramount Global also conducted layoffs last week, mainly in ad sales in New York and Los Angeles. NBCUniversal was the first major media firm to conduct a corporate restructure of its business back in 2020.

☆ Activist investor Cevian takes axe to Thyssenkrupp stake
▼ + stars: | 2022-11-22 | by ( Christoph Steitz | Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

SummarySummary Companies Cevian cuts stake by more than 5.6%Thyssenkrupp turnaround failed to boost share priceCevian first disclosed stake in 2013FRANKFURT, Nov 22 (Reuters) - Activist fund Cevian has cut its stake in Thyssenkrupp (TKAG.DE) to less than 1%, it said on Tuesday, effectively ending its loss-making engagement with the German industrial group after years of restructuring that failed to boost its share price. Cevian, which first disclosed a stake in Thyssenkrupp in 2013, had nearly halved its stake to 7.9% a year ago after a far-reaching overhaul it had long demanded arrived too late. Shares in Thyssenkrupp fell 4.7% lower on the news, making them the second-biggest decliners in Germany's mid-cap index and valuing the stake Cevian has sold at more than 180 million euros ($185 million). Refinitiv news service IFR earlier reported that Cevian sold shares at 5.15-5.40 euros apiece in a process run by UBS, indicating the fund took a loss, given Thyssenkrupp stock traded around 17-19 euros when the fund disclosed holdings. The share sale also highlights Cevian's sobering track record in Germany, which includes a 26.67% stake in Bilfinger (GBFG.DE) that has fallen in value since the fund first disclosed a stake in 2011.

☆ A fired Twitter engineer said he would have come up with 'way cleverer and more devastating jokes' about Elon Musk if he'd known he was getting canned
▼ + stars: | 2022-11-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A Twitter engineer said he believes he was fired for violating for criticizing Elon Musk on Slack. He said he would have come up with "way cleverer and more devastating jokes" if he'd known he'd be fired. then I would have come up with way cleverer and more devastating jokes," Fletcher tweeted. "I had meant to spend my whole career at Twitter," Fletcher added. In addition to the mass layoffs and targeted firings, dozens of Twitter workers have also been opting to leave the company.

☆ How to Keep Your Job in a Recession or Find a New One
▼ + stars: | 2022-11-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +6 min

That doesn't mean you should stay put in a stable job if you're miserable, careers experts say. Workers have been worried about job cuts since the summer, with a July survey from Insight Global finding that 78% of US employees were anxious about job security in the event of recession. "There is definitely more competition for talented workers, so if people are interested in changing jobs, or getting a better job or looking for a promotion, it's a pretty good time to be doing it." Don't quit in a hurryOver half of American employees have said they'll look for a new job if there's a recession, June data from recruitment software company Greenhouse found. Be flexible about your demandsHaving a degree of flexibility during a recession can't hurt your job hunt.

☆ Instant View: UK finance minister Jeremy Hunt outlines budget
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +5 min

Much of Hunt's budget had been widely expected, meaning markets offered a muted reaction. Sterling fell against the dollar, while UK government bond prices also eased, but remained clear of the day's lows. FOREX: Sterling fell 0.9% against the dollar to $1.1809 from $1.1845 prior to the budget. MARCUS BROOKES, CHIEF INVESTMENT OFFICER AT QUILTER INVESTORS, LONDON:"Today’s Autumn Statement has painted a bleak picture for the UK... Markets originally reacted well to the steady hand of Jeremy Hunt. SIMON HARVEY, HEAD OF FX ANALYSIS, MONEX EUROPE, LONDON:"The austerity’s going to be welcome (to the Bank of England) purely because there’s going to be less support for UK consumers.

The increase in college tuition and predatory lending have created a situation where, unless you’re fortunate to get a full-ride scholarship or come from a lot of money, students are vulnerable. Though Biden’s debt relief focused on federal student loans, there have been problems with private lenders as well, including the suit against student loan giant Navient. Research has shown that student loans increase access to financing and add to student diversity, which is great, but data also shows that women and people of color are disproportionately more likely to have debt. Student debt relief is one way to let people be people, first and foremost, and loanees second. But we need to do these things because we choose to and not because our college system is broken.

☆ When the bakery under my apartment caught fire, my renters insurance covered everything — including a new couch I couldn't have otherwise afforded
▼ + stars: | 2022-11-11 | by ( Hannah Van Sickle | Read More | Read Less | ) www.businessinsider.com time to read: +7 min

When I was in my 20s, my boyfriend's dad all but insisted we get renters insurance. In hindsight, renters insurance turned out to be a game-changer. Here's what's covered by renters insuranceSo what's included in renters insurance rates? Insider's Featured Renters Insurance Companies Lemonade Renters InsuranceProgressive Renters InsuranceAllstate Renters Insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. ), my experience with renters insurance lingers as a positive one.

☆ Layoffs are crushing the real-estate industry, and Redfin and Opendoor are the latest victims. Here are 44 companies that have shed jobs due to the fast-cooling housing market.
▼ + stars: | 2022-11-09 | by ( Alex Nicoll | Robert Davis | ) www.businessinsider.com time to read: +2 min

Redfin and Opendoor are the latest real-estate firms to lay off employees. The layoffs come as demand for mortgages has reached its lowest level since 1997.Insider rounded up 44 of the firms who have cut staff amid a cooling housing market. The layoffs at Redfin and Opendoor are the latest signs of trouble for the embattled real-estate industry. The downsizing began in the mortgage industry with Better's Zoom layoffs at the end of last year. With signs of distress spreading through the office market and among homebuilders, and rate hikes anticipated into 2023, layoffs are mounting.

☆ Tech firms can’t swing the axe equally
▼ + stars: | 2022-11-08 | by ( Jennifer Saba | ) www.reuters.com time to read: +4 min

But mass layoffs in other industries suggests that firms should be careful not to over-fire. Mark Zuckerberg’s $253 billion outfit is preparing to slash thousands of workers this week, according to the Wall Street Journal. Twitter’s new owner Elon Musk is blaming a massive drop in revenue as the reason to cull half of the social network’s 7,500 employees. These tech firms, though established, are also largely untested through a downturn. Twitter on Nov. 4 laid off half of its staff, or around 3,700 people, Reuters reported.

☆ Pilot whose plane crashed into a lake in Tanzania desperately tried to get out of the cockpit before he died, witness says
▼ + stars: | 2022-11-07 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

A Tanzanian passenger plane crashed into Lake Victoria on Sunday, killing 19 people on board. Majaliwa Jackson, the fisherman, was among the first people at the site of the Precision Air plane crash in Tanzania's Lake Victoria on Sunday. "He directed me to break the window screen," Jackson told the BBC. "He pointed out the cockpit emergency door to me," Jackson told the BBC. The plane took off from Tanzania's commercial capital of Dar es Salaam on Sunday morning and was supposed to land in Bukoba when it instead plunged into Lake Victoria, Africa's largest freshwater lake.

☆ Liz Cheney says Marjorie Taylor Greene stands 'with Putin' and 'against freedom' after the Georgia lawmaker vowed to axe Ukraine aid if GOP wins control of Congress
▼ + stars: | 2022-11-05 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +2 min

Liz Cheney slammed Marjorie Taylor Greene for her recent comments about Ukraine. Cheney said that Greene stands "with Putin against freedom & America." Greene pledged to cut aid to Ukraine if the GOP gains control of Congress in the midterms. "The only border they care about is Ukraine, not America's southern border," Greene said Thursday at a Trump rally, per the HuffPost. Cheney snapped back at Greene, later adding that she stands "with Putin against freedom & America."

The groups said on Friday they are escalating their pressure and demanding brands pull their Twitter ads globally. Staff who worked in engineering, communications, product, content curation and machine learning ethics were among those impacted by the layoffs, according to tweets from Twitter staff. Shannon Raj Singh, an attorney who was Twitter's acting head of human rights, tweeted on Friday that the entire human rights team at the company had been cut. Musk tweeted that his team had made no changes to content moderation and done "everything we could" to appease the groups. Employees of Twitter Blue, the premium subscription service that Musk is bolstering, were also let go.

Warner Bros. Pictures, film subsidiary of Warner Bros. "We're spending more money this year than we've ever spent historically," Warner Bros Chief Executive David Zaslav told a conference call. Warner Bros posted a third-quarter loss of $2.3 billion, or 95 cents a share, which includes $1.5 billion in pre-tax restructuring charges. Warner Bros Discovery, home to hit franchises such as "Batman" and "Euphoria," added 2.8 million new streaming subscribers in the third quarter, bringing its total to 94.9 million. A merger of HBO Max and Discovery+ will debut on an accelerated timetable, in spring of 2023.

[1/2] Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. Managers have been forbidden from calling team meetings or communicating directly with staff, one senior Twitter employee said, adding that they were being monitored. "I'm really worried tweeps," a Twitter staffer wrote Thursday on Blind, which verifies employees through their work email addresses. "Give us the details," a Google employee wrote in a Blind post directed at Twitter staff. Much worse," answered a Twitter employee.

☆ Warner Bros. Discovery quarterly revenue falls
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Discovery (WBD.O) reported an 8% drop in quarterly revenue on Thursday, hurt by cuts in advertising budgets at businesses struggling to cope with decades-high inflation. Recession-wary brands have taken the axe to their marketing budgets as consumer spending on discretionary products and services dip. It aims to reach about 130 million global subscribers by 2025. Revenue was $9.82 billion for the third quarter ended Sept. 30. Analysts on average expected revenue to come in at $10.37 billion, according to Refinitiv data.

☆ Fed delivers fourth 75 bp hike, signals scale-back coming
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +6 min

This statement clearly suggests input from Vice Chair Brainard and opens the door for the Fed to slow down the pace of future rate hikes. Monetary policy today is not sufficiently tight enough. We’ll know when the Fed is done tightening; they’ll tell us by simply saying that monetary policy is sufficiently restrictive. “The last thing we need to see regarding what the Fed will do in the short run is the election. If there’s a sense that fiscal policy will be more cooperative with monetary policy, it will make the Fed’s job easier.”Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

☆ Schonfeld is rolling out a team focused on credit in another sign of Wall Street's rising interest in debt investing
▼ + stars: | 2022-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Everybody wants to be a lender these daysStop me if you've heard this before, but a Wall Street firm wants to invest in debt. Schonfeld Strategic Advisors, the $14 billion family-office-turned-hedge fund is building out a new group focused on credit within its macro trading business, Insider reports. A general rule on Wall Street is that firms like to build businesses around complex things. A simple process means it is easily repeatable by someone else, which means more competition, which means smaller margins, which means less profit. The SEC issued $2.2 billion in fines on public companies, including 13 fines larger than $100 million, during its 2022 fiscal year, The Wall Street Journal reports.

Cloud services for years has been one of the largest and most dependable sources of growth for some of the biggest tech companies, including during the pandemic as people worked and studied from home. Growth in Amazon Web Services (AWS), the firm's lucrative cloud unit serving enterprises, has ticked down consistently in the past four quarters, adjusted for changes in forex. "The AWS slowdown is a clear sign that businesses are beginning to trim costs, so this will likely put more of a squeeze on Amazon's bottom line in the coming quarters," said Andrew Lipsman, principal analyst at Insider Intelligence. Alphabet's Google Cloud revenue grew 38% in the quarter, beating estimates. Cloud services typically help companies save money so budget cuts in this sector could be especially worrying, indicating that companies think cost is king going into tougher times.

The Sega Genesis Mini 2 launched on October 27 exclusively at Amazon. The retro gaming console features 60 games from the Sega Genesis and Sega CD. Like the earlier model, the Genesis Mini 2 is designed to let buyers play retro Sega games on their TV. The Genesis Mini 2 has 60 games, while the original Genesis Mini had 42. Are there other ways to play classic Sega Genesis games?

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