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☆ AMC Networks booted its CEO after only 3 months, gave her a $10 million payout, and cut about 20% of its staff. So much for workers being empowered.
▼ + stars: | 2022-11-30 | by ( Rebecca Knight | Marguerite Ward | ) www.businessinsider.com time to read: +6 min

Former AMC CEO Christina Spade got a $10 million payout after only three months on the job. AMC's former CEO getting a massive payout for three months of work is not good for shareholder capitalism or stakeholder capitalism. "But AMC's former CEO getting a massive payout for three months of work is not good for shareholder capitalism or stakeholder capitalism. Ja_inter/Getty ImagesLayoffs vs. the golden parachuteResearch shows that CEO severance packages serve an important purpose in corporate America. And some investor groups have recently proposed votes to curb CEO pay.

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☆ Saudi Arabia’s victory over Argentina is the greatest upset in World Cup history, says data company
▼ + stars: | 2022-11-22 | by ( Alasdair Howorth | ) edition.cnn.com time to read: +6 min

According to sports data group Gracenote, Argentina’s 2-1 defeat by Saudi Arabia in their Group C match is the biggest upset in World Cup history. All the pre-match talk focused on Messi, one of the world’s greatest ever players who is likely playing his last World Cup. According to Gracenote, the previous most surprising World Cup win was USA’s victory against England in 1950, in which the American team had a 9.5% chance of victory. David Cannon/Getty ImagesDiego Maradona had taken the world by storm at the 1986 World Cup, delivering a succession of spectacular individual performances as Argentina claimed its secondd title. Keystone/Hulton Archive/Getty ImagesAhead of the 1950 World Cup in Brazil, football had been fully professional in England for decades, though this was the English team’s first appearance at a World Cup having chosen not to appear in the previous three tournaments.

☆ Saudi Arabia win is statistically biggest World Cup shock, say Gracenote
▼ + stars: | 2022-11-22 | by ( Mitch Phillips | ) www.reuters.com time to read: +5 min

Appearing for the first time, England were favourites to win the 1950 World Cup in Brazil while the Americans were a semi-professional squad. England, featuring future World Cup winning manager Alf Ramsey in defence, dominated but lost to Joey Gaetjens' first-half header. It would be another 44 years before the U.S. would win another match at the World Cup. A Czech team who had reached the 2004 European Championship final were expected to go deep in the World Cup and opened with a 3-0 demolition of the United States, while Ghana, making their World Cup debut, had already lost to Italy. Wales did not appear in the World Cup again until Monday's 1-1 draw with the United States.

☆ I worked 2 remote jobs during the pandemic, and it helped me break into my dream industry. But I wouldn't do it again.
▼ + stars: | 2022-11-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Norma M. worked two remote jobs during the pandemic. The experience helped her get a foot into the publishing industry, but she wouldn't try it again. Ultimately, I decided to move ahead with interviews for the publishing role. I was relieved to see that I only had one standing meeting for the publishing job. It was still a contract role, but we had reached an agreement that they would continue renewing it for the foreseeable future.

☆ A Top Recruit Was Lured to Miami With a Big Money Offer. Then the Hurricanes Started Losing.
▼ + stars: | 2022-11-18 | by ( Laine Higgins | ) www.wsj.com time to read: 1 min

The future of University of Miami’s football team was supposed to hinge on Jaden Rashada, a four-star quarterback from California who was a high-profile example of how big money promises to drive success in the new world of college football. In August, Rashada committed to Miami to begin playing in 2023, lured partly by a lucrative endorsement offer from LifeWallet, the medical-records and data company where billionaire Hurricanes booster John Ruiz is chief executive. Ruiz, through his company, and other boosters have been pouring money into name, image and likeness deals meant to entice top recruits to Miami’s sports programs.

☆ GOP megadonor Mercer family has no plans to boost Trump's 2024 campaign as former president loses more allies
▼ + stars: | 2022-11-18 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Robert Mercer and Rebekah Mercer attend the 2017 TIME 100 Gala at Jazz at Lincoln Center on April 25, 2017 in New York City. Rebekah Mercer gave nothing to any pro-Trump group or Trump campaign entity during his last run for president, according to the filings. The 2016 Trump campaign then reportedly used that data to conduct some digital advertising. The Trump campaign paid Cambridge Analytica over $5.9 million for its services during the 2016 election cycle, according to the nonpartisan OpenSecrets. The pro-Trump super PAC funded in part by Robert Mercer also paid Cambridge Analytica just over $5.6 million that cycle, OpenSecrets says.

☆ New York continues streak as nation's No. 1 port as LA cargo volume hits level not seen since 2009
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Earlier this week, the Port of Los Angeles posted its lowest level of October since 2009. "Firstly, shippers are still avoiding the West Coast to mitigate the risk of labor strikes at LA and Long Beach. According to Project44 data, total vessel TEU capacity deployed from Europe to the East Coast is up 15.5% compared to Oct 2021. CNBC Supply Chain Heat Map providers warned in the summer and fall of a decrease in manufacturing orders which has impacted the volume of shipping. The lesser container volumes are now being seen off the ports across the East Coast, including New York and New Jersey.

☆ Opinion: No one is coming to save the crypto industry
▼ + stars: | 2022-11-12 | by ( Emily Parker | ) edition.cnn.com time to read: +6 min

Sam Bankman-Fried, the 30-year-old CEO of crypto exchange FTX, helped bail out distressed crypto companies like BlockFi and Voyager. In an industry with a reputation that has been marred by scammers, hackers and sheer greed, Bankman-Fried seemed like a relatively nice guy. The whole point of crypto is that it is supposed to be decentralized and transparent. Changpeng Zhao, CEO of the world’s biggest crypto exchange Binance, publicly announced that the exchange would liquidate its FTX holdings. Join us on Twitter and FacebookFor the crypto industry, the lesson here is to stop looking for saviors.

☆ It’s a terrible time to buy a house. Here’s what to know if you have to do it anyway
▼ + stars: | 2022-11-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

“It is something I’ve never seen a combination of, this lack of inventory and higher interest rates,” Lafferty said. “If that comes to pass, you can do a refinance and secure a lower interest rate and lower payments. Buy down your interest rate with pointsBorrowers can lower their payments by paying more upfront to buy down their mortgage rate. The downside: While getting a lower interest rate is very appealing, it means shelling out more money up front. In September, when mortgage rates were around 5.75%, Kelly worked with borrowers who were buying a $590,000 house.

☆ Canceled sailings from China and 'radical' vessel cuts hit U.S. ability to reach export market
▼ + stars: | 2022-11-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

"As shipping lines reduce their vessel calls in the form of blank sailings, this reduces the capacity for outbound volumes. Sea-Intelligence wrote in its recent blank sailings report that it has detected some unannounced cancellations for the calendar-year period of weeks 42-52 in the past two weeks. "Blank sailings have been ramped up drastically on the Transpacific, but not so much on Asia-Europe," said Alan Murphy, CEO at Sea-Intelligence. On Asia-North Europe routes, Sea-Intelligence is only seeing an additional six blank sailings, and on Asia-Mediterranean routes an increase of four blank sailings. The weekly average of vessels waiting this week is 14, waiting for an average of 6.3 days.

☆ Databricks is joining rival Snowflake in backing a $1.5 billion startup as they race to own the way companies use their data
▼ + stars: | 2022-11-08 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +3 min

Databricks said it's making a strategic investment in the $1.5 billion data startup Matillion. It's one of a few coinvestments with a rival, Snowflake, as the two race to own the data experience. Another unicorn startup is joining the small club of companies backed by both Snowflake and Databricks, the big-data rivals that are racing to own companies' entire experiences working with their data. The Databricks Ventures partner Andrew Ferguson said Matillion appealed to a slightly different customer profile than that of Databricks' traditional highly technical audience. While data budgets may be getting more scrutiny, there hasn't been any significant impact in the company's performance, he said.

Adjusted earnings per share came in at 57 cents, 7 cents ahead of estimates. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones, and Wolters Kluwer (WLSNc.AS). Thomson Reuters holds a minority stake in the LSE, worth about $6.3 billion as of Friday. Thomson Reuters will be "quite a bit more aggressive in the next few quarters in looking at acquisitions," he said. Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

The Toronto-based company recorded $1.57 billion in sales during the quarter, up 3%, slightly below expectations of $1.59 billion. Adjusted earnings per share came in at 57 cents, 7 cents ahead of analyst estimates. But it noted that 2023 margins were trending towards the lower end of the 39%-40% range amid heightened inflation and investments. Thomson Reuters' peers include RELX Group’s (REL.L) LexisNexis, Bloomberg LP, News Corp's (NWSA.O) DowJones and Wolters Kluwer (WLSNc.AS). Reporting by Ken Li and Nick Zieminski in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ India, China to see biggest jump in real salary as Asia-Pacific leads the way next year, report shows
▼ + stars: | 2022-11-01 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

As inflation continues to impact global economies, Asia-Pacific is the only region that will see real salary growth in 2023, according to ECA International. As inflation continues to impact global economies, Asia-Pacific will be the only region to see real salary growth in 2023, a new survey has found. That's compared to other regions which will see drops in average real salary, the report showed. With inflation increasing significantly in 2022, 78% of countries surveyed recorded a real salary decrease, and no European country saw a real-terms salary increase. Workers in China are also amongst "a small group globally" who will receive the highest rates of real salary growth this year and the next, Quane said.

☆ How Taylor Swift went back to the past and turned 'Midnights' into her biggest album success yet
▼ + stars: | 2022-11-01 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +10 min

Five years ago, Swift's "Reputation" achieved the biggest ever U.S. sales week by traditional album sales with 1.216 million copies sold. With "Midnights," Swift broke her own record again, reaching 185 million streams on its release day. Midyear Report for 2022," current vinyl album sales — music releases that are less than 18 months old — rose by 27.4%. On the other hand, catalog vinyl album sales — music releases that are 18 months old or older — fell by 8.4% since 2021. The demographics of vinyl buyers also help to explain the large vinyl album sales "Midnights" is seeing.

☆ Rising inflation forces Halloween candy prices to climb more than 13%, with the highest price increases impacting Skittles and Starbursts
▼ + stars: | 2022-10-31 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

As Americans prepare for Halloween festivities, candy prices have shot up. Candy prices rose more than 13% in September compared with a year ago, per the Bureau of Labor Statistics. Skittles shot up by 42% in price since last year, while Starbursts rose by 35%, Datasembly told The WSJ. According to the Labor Department, candy prices went up more than 13% in September compared with a year ago. Consumers plan to spend $100 on average for Halloween candy, cards, costumes, and decorations, the National Retail Foundation reported in its 2022 survey.

☆ Even one of the biggest apartment landlords in the US is having trouble hiking rents as much as it did in the first half of the year
▼ + stars: | 2022-10-27 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

The slowdown is affecting Equity Residential's over 79,000 units and clouding building valuations. Earnings reports show that average rents across Equity Residential's 79,594-unit portfolio rose by an average of just 1.7% last quarter, down from the 2.8% and 3.1% upticks in the second and first quarters, respectively. Meanwhile, the data shows that rents in many Texas and Florida cities, as well as a couple of key New England cities, keep rising. Meanwhile, in Boston, a scarcity of housing supply helped drive rents up 5.9% — making it the second most-expensive city to be a renter nationally. The deceleration in rent growth nationally is welcome news for renters who have had to cough up increasingly large chunks of their paychecks each month to their landlords.

☆ Aldi is the US's fastest-growing grocery chain and more households earning $50-100K are shopping there. Here are the no-frills tactics that help make it so cheap.
▼ + stars: | 2022-10-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +12 min

Aldi is the US's fastest-growing grocer for the third year running, the real-estate firm JLL said. Aldi almost always has the lowest prices for core products like bread, milk, and eggs, Monford said. Monford added that consumers "don't mind" that products aren't taken out of their boxes because they're shopping at Aldi for value. Campbell said the Aldi stores near her generally had just four or five aisles. Vadakkepatt said Aldi's stores have fewer employees and shorter hours than at other chains.

☆ Home prices are finally falling. But how low will they go?
▼ + stars: | 2022-10-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

From the 2006 peak to the 2012 trough, national home prices fell by 27%, according to S&P CoreLogic Case-Shiller Indices, which measures US home prices. Now they are coming down.”With mortgage rates more than doubling since the start of this year, the calculations for a homebuyer have changed considerably. They predict prices will rebound and rise again in 2024, with the median price ticking up 3.3% to 376,000 by the end of 2024. “If our forecast for Fed rate cuts is realized, mortgage rates are likely to fall slightly just as cooling inflation pressures boost real income growth. And Boise, Idaho, where prices surged nearly 60% during the pandemic, is already seeing annual declines, with prices falling 3.9% year over year in September, according to Zillow.

Goldman Sachs analysts predict gross finance costs for the listed UK real estate firms it covers may rise by 75% over the next five years. UK REITs are using less leverage now than before the financial crisis. Leisure and retail property vacancy rates also remain above pre-pandemic levels, Local Data Company figures show, at 10.6% and 15.4% respectively. The stock market also signals growing investor caution around UK commercial property, with an index of 15 UK REITs down 44% so far in 2022 (.TRXFLDGBPREIC) compared with a 9.8% fall in the wider FTSE 350 (.FTLC) . UK REITs index vs 30-year gilt yield($1 = 0.8906 pounds)Register now for FREE unlimited access to Reuters.com RegisterEditing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ UK business confidence withers away, surveys show
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 19 (Reuters) - Confidence among British businesses has dropped precipitously, damaged by a toxic combination of rising costs and economic turmoil, surveys showed on Wednesday. The Federation of Small Businesses (FSB), a trade body, said its latest small business confidence index fell to -35.9 from -24.7, the worst reading outside of COVID-19 lockdowns. The surveys underline the threat of recession and scale of the task facing new finance minister Jeremy Hunt in turning Britain's economy around. "Recent political and economic turmoil hasn't helped, which is why it is vital the government focuses on stability," said FSB national chair Martin McTague. The FSB said 68% of small businesses had raised pay over the last year, with wage increases averaging 4.5%.

☆ Instacart is losing ground to rival in-house delivery options at Costco, Sam's Club, and others — and it could hamstring its IPO ambitions
▼ + stars: | 2022-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

E-commerce sales through Walmart's Sam's Club grew by 5.5%. Such sales grew by 80.7% at Costco and by 9.3% at the Texas-based chain HEB. "They have brands that they like, and if they offer that delivery service, they're very likely to go to that brand." Sam's Club, for instance, welcomed Instacart's shoppers to its stores in the US in 2018. Under that service, orders are picked by Sam's Club employees and delivered to customers using the retailer's delivery partners.

☆ Amazon shoppers shrug off second Prime Day sale
▼ + stars: | 2022-10-14 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

For Amazon, the event tested how members of its Prime subscription program would respond to two major discount events in the same year, after the company's main Prime Day sale in July. They estimate Amazon brought in $5.7 billion in revenue from the Prime Early Access Sale vs. $7.5 billion in July. The average spend per order during the Prime Early Access Sale was $46.68, down from $60.29 on Prime Day, according to market research firm Numerator. Discount events such as the Prime Early Access sale are a relatively low cost way to goose sales, Kaziukenas said. WATCH: Amazon gets in front of holiday shopping with second Prime Day of the year

☆ Europe has enough energy to survive the winter. Next year might be different
▼ + stars: | 2022-10-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

Cornelius Poppe/NTB/AFP/Getty ImagesBut success has come at a heavy cost to the economy: the scramble for alternative sources has sent energy prices soaring. Alexei Miller, CEO of Russian state energy giant Gazprom, said on Wednesday that there was “no guarantee” that Europe would survive the winter with its current reserves. “Adopting policies that prevent the pass-through of high energy prices to consumers is an expensive gamble that is doomed to fail if wholesale energy prices will stay high in the future,” he added. Carlos Torres Diaz, head of power analysis at Rystad Energy, told CNN business that Europe’s energy transition “has been put on hold” as it prioritizes energy security. “These sources of energy also help reduce the dependency on energy imports,” Torres Diaz added.

☆ Here are Tuesday's biggest analyst calls: Meta, Apple, Walmart, Netflix, Coca-Cola, Roblox & more
▼ + stars: | 2022-10-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Walmart as overweight Morgan Stanley said that Walmart+ could be worth $45 billion. Morgan Stanley upgrades Amgen to overweight from equal weight Morgan Stanley said the biopharma company is a defensive stock. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said Microsoft has an attractive valuation. Morgan Stanley downgrades Zoom to equal weight from overweight Morgan Stanley said there's a lack of near term catalysts for the stock. Morgan Stanley names Taiwan Semiconductor as a catalyst driven idea Morgan Stanley said it's bullish heading into semiconductor company's analyst meeting on Thursday.

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