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☆ The electric-car industry is set for a pivotal year. Here are 6 VCs' top predictions for 2023, from new trends to investment opportunities.
  + stars: | 2022-12-29 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +6 min
2023 is set to bring even more momentum to the electric-car industry than 2022 did. Even with challenges — and some executives' losing faith in the EV biz — the industry can't turn back on its ambitions. Robert Knopes/UCG/Universal Images Group via Getty ImagesCharging, charging, chargingHistorically, charging hasn't been a money-making venture. Alexei Andreev, a managing director at AutoTech Ventures, said a shakeout could come in the battery industry, where hundreds of startups are racing to compete with giants. The autonomous-vehicle industry took several hits in 2022, but General Motors is still optimistic about Cruise.
☆ Pelé, Brazilian soccer star and only player to win the World Cup three times, dies at age 82
  + stars: | 2022-12-29 | by ( Michele Luhn | ) www.cnbc.com   time to read: +5 min
Pelé, the Brazilian soccer icon who brought the World Cup trophy to his home country three times, becoming an international superstar and the highest-paid team athlete in the world at the time, has died. Pelé joined the Santos Football Club in Brazil in 1956 at age 15 as an inside forward. The club won the São Paulo league championships and, in 1962 and 1963, both the Libertadores Cup and the Intercontinental Club Cup. Brazil lost in the first round at the next World Cup, in 1966, after Pelé and others suffered injuries. Pelé closed out his World Cup career netting 12 goals in 14 games and remains the only soccer player to win the trophy three times.
☆ I'm a leg-lengthening surgeon. I won't do cosmetic procedures because they cheapen what my work is really about — fixing deformities.
  + stars: | 2022-12-29 | by ( Natalie Rahhal | ) www.businessinsider.com   time to read: +11 min
Dr. S. Robert Rozbruch has led limb-lengthening and reconstruction surgery for more than 20 years. Rozbruch performs 350 to 400 limb-lengthening surgeries and deformity corrections a year. I also loved the TV show "M*A*S*H." The character Hawkeye Pierce, who's a surgeon, was like a mentor to me. I really like helping these kinds of patients and feeling their appreciation for something special that not every orthopedic surgeon can do. Cosmetic limb-lengthening surgeries are a one-offI do limb-lengthening reconstruction, not that bullshit cosmetic limb-lengthening that was discussed in GQ.
☆ Trials, pardons, prison time: How Trump's legal woes could play out and what it means for 2024
  + stars: | 2022-12-26 | by ( Sonam Sheth | ) www.businessinsider.com   time to read: +15 min
The warrant also indicated that the Justice Department was investigating whether Trump violated three federal laws, including the Espionage Act, related to the handling of national security information. Here are some possibilities:The investigations conclude with no charges filedIn the US's 250-year history, no ex-commander in chief has ever faced criminal charges. In all, the former president, if convicted, would be facing up to 33 years of incarceration, according to legal experts. That begs the question: If Trump is charged, convicted, and winds up in prison, can he still run for president in 2024? He made headlines during his presidency for wondering why he couldn't have "my guys" at the "Trump Justice Department" do his bidding.
☆ Democrats fret as Biden tries to bolster re-election case touting legislative wins
  + stars: | 2022-12-22 | by ( Peter Nicholas | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Carol-Lee-Circle-Byline-Template.Jpg | ) www.nbcnews.com   time to read: +8 min
WASHINGTON — As 2022 draws to a close, President Joe Biden plans to give an upbeat national address Thursday afternoon with a unifying message. Biden would be traveling the country touting reduced insulin prices and new road projects, while House Republicans hold hearings into obscure conspiracy theories. The first is Biden runs and loses, perhaps to a younger Republican opponent who eclipses Trump as the new GOP favorite. His top aides have been meeting privately with left-leaning interest groups urging them to go out and showcase Biden’s record. “President Biden became the first president since FDR in 1934 to not lose a single incumbent United States Senate seat” in the midterms, Donilon wrote.
☆ Compass is reeling from a horrible year, from financial losses to tech troubles to mass layoffs
  + stars: | 2022-12-18 | by ( Matt Turner | Daniel Geiger | Jordan Parker Erb | ) www.businessinsider.com   time to read: +5 min
You can get the latest on that and much more from our finance newsletter, 10 Things on Wall Street. It's a snappy weekday read with the biggest stories on the Street, plus the latest on hot-spot restaurants, industry parties, and so much more. On the agenda today:Up first: Senior real-estate correspondent Daniel Geiger is giving us a behind-the-scenes look at the recent turmoil at Compass. With home sales dipping amid rising interest rates, Compass has cut workers and bled cash. In June, it laid off about 450 corporate staff, and in October, it let go of about half its 1,500-person tech team.
☆ US lawmakers want answers on FTX's collapse. Sam Bankman-Fried may not have them.
  + stars: | 2022-12-12 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +4 min
But first, we are going to hear more from Sam Bankman-Fried this week, even if you think we've already heard quite enough from him. Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee on December 8, 2021 in Washington, DC. Disgraced FTX founder Sam Bankman-Fried, who said he once considered himself a "model CEO," tweeted last week that he would testify before tomorrow's House Financial Services committee hearing focused on his firm's blowup. FTX's new CEO, John J. Ray III, who oversaw the bankruptcy of Enron, will testify in the first part of the hearing. A private lunch with the billionaire is on the table if you're willing to pony up the cash.
☆ Compass CEO Robert Reffkin's memo on how to dump poor performers was good, but here's how it could have been better
  + stars: | 2022-12-12 | by ( Shana Lebowitz | ) www.businessinsider.com   time to read: +4 min
Robert Reffkin, the CEO of Compass, asked his leadership team to help root out underperformers. The message is compelling but doesn't tell leaders what employees must do to succeed at the company. The memo arrived after two rounds of layoffs, in June and October, at Compass, which has been struggling financially. But the Compass memo, while giving strong examples of what workers shouldn't be doing, didn't offer as much guidance about what the company needs from employees right now. But Galinsky said the memo lacked details about what exactly employees need to do in order to succeed at Compass right now.
☆ Norway's Reitan Retail buys 114 Danish stores from Germany's Aldi
  + stars: | 2022-12-09 | by ( ) www.reuters.com   time to read: +1 min
OSLO, Dec 9 (Reuters) - Norway's Reitan Retail said on Friday it had agreed to buy 114 Danish grocery stores and three distribution centres from German rival Aldi for an undisclosed amount, boosting the Norwegian group's chain of Rema 1000 discount stores. "This will significantly lift our Danish revenue and should make Rema 1000 the largest chain of grocery stores in Denmark," Reitan Retail Chief Executive Ole Robert Reitan told Reuters. Before the transaction, Rema 1000 had around 330 grocery stores in Denmark. German discounter Aldi said in a statement the sale was part of a full exit from the Danish market, where it has a total of 188 stores. Reitan Retail, which has some 42,000 employees across seven countries, earlier this year reported an operating profit (EBIT) of 3.8 billion Norwegian crowns ($381 million) for 2021, down from 4.4 billion in 2020.
☆ Read the memo Compass CEO Robert Reffkin sent his leadership team, telling them to crack down on 'managing out poor performers' and quiet quitters
  + stars: | 2022-12-09 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +4 min
Compass CEO Robert Reffkin sent a memo to managers Sunday telling them to target poor performers. In the December 4 email, which has the subject line "managing out poor performers," Reffkin said to identify underachieving employees and to "move them out." "If you see evidence that someone doesn't want to stay at Compass and help us weather this storm, say something," Reffkin wrote. Compass needs you to know your employees and their work habits and results. I hold myself and my leadership team to this same standard.
☆ Compass CEO Robert Reffkin told his leadership team to step up managing out low-performing employees, as the company racks up losses and is forced to cut costs
  + stars: | 2022-12-09 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +5 min
Compass CEO Robert Reffkin sent an email to his leadership team on "managing out poor performers." Compass employees were disheartened. "It's also your responsibility to manage out employees who can't, or aren't, performing at that level," Reffkin wrote in the Sunday afternoon message. The full text of the memo was shared with Insider, and a Compass spokesman confirmed Reffkin sent the email. In June, Compass let go of about 450 corporate workers across departments.
☆ Democrats detail effects of early pandemic failures in new Senate report
  + stars: | 2022-12-08 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com   time to read: +6 min
The 242-page report, written by Democrats on the panel, cited long-term weaknesses in the country’s public health infrastructure, from staffing shortages and inadequate disease surveillance to poor testing systems. But the report indicated that the pandemic shortcomings extended beyond the Trump administration. Similarly, a DHS report said 96% of pharmacy owners and managers were already reporting a shortage of surgical masks, according to the report. It issued a variety of recommendations, including increasing funding to improve public health surveillance, data systems, health care surge capacity, domestic manufacturing capabilities and stockpiles of critical supplies. "This is not the first public health crisis that our nation has faced, and sadly, it won't be the last," Peters said.
☆ Sundance Film Festival lineup revealed
  + stars: | 2022-12-07 | by ( Megan Thomas | ) edition.cnn.com   time to read: +1 min
CNN —The Sundance Institute revealed on Wednesday the slate of films that will screen during the 2023 Sundance Film Festival in January. Some of the noteworthy films selected include a prison thriller starring Anne Hathaway called “Eileen” and two documentaries about the lives and careers of Michael J. Fox Movie,' an official selection of the Premieres program at the 2023 Sundance Film Festival. Courtesy of Sundance InstituteThe projects selected from nearly 16,000 submissions include 101 feature-length films representing 23 countries. His film “Shortcomings,” starring Justin H. Min, Sherry Cola and Ally Maki, will debut in the U.S. dramatic competition.
☆ 'Selling Sunset' broker Jason Oppenheim says 'Compass basically destroyed the brokerage model for the entire industry'
  + stars: | 2022-11-30 | by ( Dan Latu | ) www.businessinsider.com   time to read: +5 min
Jason Oppenheim, who runs The Oppenheim Group, said the rival brokerage Compass is "unfixable." Compass told Insider its current cost-cutting plan includes "no change in our split policy." "There's no fixing Compass," Oppenheim, best known from the Netflix reality show "Selling Sunset," told the real-estate news outlet Inman. "There are other brokerages out there offering 90-10 and 85-15 splits because they had to in order to compete with Compass," Oppenheim told Insider. Oppenheim told Insider he's not rooting for the downfall of Compass.
☆ Hong Kong leader asks Beijing to rule on 'blanket ban' on foreign lawyers in national security cases
  + stars: | 2022-11-28 | by ( James Pomfret Greg Torode | James Pomfret | Greg Torode | ) www.reuters.com   time to read: +4 min
But Hong Kong's Court of Final Appeal (CFA) on Monday gave a final ruling on the matter, rejecting the government's application to impose a "blanket ban" on foreign lawyers working on national security cases, bar exceptional circumstances. Lai is one of the most prominent Hong Kong critics of China's Communist Party leadership including Xi Jinping, and Hong Kong's Department of Justice made repeated attempts to block Owen from representing him. SWEEPING NATIONAL SECURITY LAWLee also said there was no means of ensuring a foreign lawyer would not divulge state secrets that might emerge during a national security trial. Beijing imposed the sweeping national security law on Hong Kong in June 2020 after sometimes-violent protests rocked the city for months the year before. Beijing's power of ultimate legal interpretation is outlined in the Basic Law, the mini-constitution that grants extensive Hong Kong autonomy and freedoms.
☆ Musk says new color-coded verified system at Twitter will roll out in a week
  + stars: | 2022-11-25 | by ( Chris Isidore | ) edition.cnn.com   time to read: +3 min
New York CNN Business —Elon Musk is ready to try his troubled new verification system for Twitter once again. The CEO of Twitter announced - via a tweet of course - that Twitter will roll out its tentatively launching Verified on Friday next week. Musk’s earlier attempt to launch paid verified accounts sparked a flood of spoof accounts from people impersonating companies and famous Twitter users, including Musk himself, and caused Musk to announce another delay in the new system. His plans for charging for verified accounts has been put on hold several times. “All verified individual humans will have same blue check, as boundary of what constitutes ‘notable’ is otherwise too subjective,” Musk tweeted.
☆ Activists aggravate art insurers' climate headache
  + stars: | 2022-11-25 | by ( Carolyn Cohn Noor Zainab Hussain Barbara Lewis | Carolyn Cohn | Noor Zainab Hussain | ) www.reuters.com   time to read: +6 min
Many in the art and insurance world, however, say it may be only be a matter of time before art works are vandalised, especially if protests spread beyond climate activism. The art insurance market globally earns around $750 million in premiums. PRESSURE ON PREMIUMSLosses and levels of insurance availability tend to dictate insurance premiums. Commercial museums and galleries, however, buy art insurance, and its use is also more prevalent among larger museums in the United States than in Europe. While five insurers contacted by Reuters said they were not yet factoring climate attacks into premiums, some artists say they already face increased costs.
☆ Blow for Scottish nationalists as UK court rejects independence vote bid
  + stars: | 2022-11-23 | by ( Michael Holden Andrew Macaskill | Michael Holden | Andrew Macaskill | ) www.reuters.com   time to read: +3 min
Scottish First Minister Nicola Sturgeon, leader of the pro-independence Scottish National Party (SNP), announced earlier this year that she intended to hold an advisory independence vote on Oct. 19, 2023, but that it had to be lawful and internationally recognised. Polls suggest voters remain evenly split over whether or not they support independence and a vote would be too close to call. The Scottish government's most senior law officer had asked the UK Supreme Court whether the Scottish government could pass legislation paving the way for an advisory second referendum without the approval of the UK parliament. "The Scottish parliament does not have the power to legislate for a referendum on Scottish independence," said Robert Reed, the president of the UK Supreme Court. Under the 1998 Scotland Act, which created the Scottish parliament and devolved some powers from Westminster, all matters relating to the Union of the Kingdoms of Scotland and England are reserved to the UK parliament.
☆ 'Good' cholesterol may not protect against heart disease, study finds
  + stars: | 2022-11-21 | by ( Linda Carroll | Linda Carroll Is A Regular Health Contributor To Nbc News | Reuters Health. She Is Coauthor Of | ) www.nbcnews.com   time to read: +6 min
For decades doctors have been telling their patients that high levels of HDL, otherwise known as “good cholesterol,” could protect them from heart disease. But a new study suggests that having a lot of so-called good cholesterol doesn’t mean a lower risk of heart attacks. The new findings surprised the researchers, who originally designed their study to understand how cholesterol levels in Black and white middle-aged adults without heart disease affected their future risks. Previous research on "good" cholesterol and heart disease consisted of mostly white adults. Low HDL levels were associated with an increased risk of coronary heart disease in white participants, but not Black participants.
☆ Crypto firm Multicoin expects contagion from FTX to wipe out many trading firms in coming weeks
  + stars: | 2022-11-17 | by ( Ari Levy Mackenzie Sigalos | Ari Levy | Mackenzie Sigalos | ) www.cnbc.com   time to read: +4 min
It's a stark reversal for five-year-old Multicoin, which announced a $430 million fund in July, its third and largest to date. "We put entirely too much trust in our relationship with FTX," Multicoin managing partners Kyle Samani and Tushar Jain wrote in the 3,400-plus word letter, which CNBC obtained. Multicoin said it doesn't expect the crypto market to turn anytime soon. "Many trading firms will be wiped out and shut down, which will put pressure on liquidity and volume throughout the crypto ecosystem. The crypto market has experienced multiple pullbacks in the last few years and has bounced back.
☆ Real-estate tech firms are getting hammered by a cataclysmic reckoning that one VC called a cross between the 2001 dot-com bust and the 2008 market crash
  + stars: | 2022-11-16 | by ( Daniel Geiger | ) www.businessinsider.com   time to read: +10 min
The proptech sector is battling two challenges at once: a slowing housing market and a tech bust. For almost a decade, a growing group of companies have thrived by introducing tech innovations to a stubbornly analog real-estate industry. "Now we're seeing something that feels like a confluence between the 2001 dot-com bust in the venture-capital world and the 2008 market crash in real estate. Shares of both Opendoor and Redfin, which once drew investor attention to the soaring proptech industry, are worth roughly one-tenth what where they were a year ago. The company hasn't laid off any of its 300-person staff — including a roughly 50-person tech team — and doesn't plan to, Matthews said.
☆ Donald Trump and his siblings can't be sued by niece Mary Trump over inheritance money, judge rules
  + stars: | 2022-11-15 | by ( Jacob Shamsian | ) www.businessinsider.com   time to read: +3 min
A judge tossed Mary Trump's lawsuit against her uncle Donald Trump and two of his siblings. Roberta Kaplan, an attorney representing Mary Trump, said she would appeal the case. President Donald J. Trump will continue to fight for the truth and against innumerable falsehoods being perpetrated by his enemies." Donald Trump has separately filed a lawsuit against Mary Trump and the New York Times, over the publication of his tax returns obtained through his niece, which remains pending. A representative for the former president didn't immediately respond to a request for comment on the litigation relating to Mary Trump.
☆ Donald Trump defeats niece Mary Trump in lawsuit over inheritance
  + stars: | 2022-11-15 | by ( Jonathan Stempel | Industry Insight | Forum | ) www.reuters.com   time to read: +3 min
NEW YORK, Nov 15 (Reuters) - Donald Trump defeated his niece Mary Trump in a lawsuit where she accused the former U.S. president and two of his siblings of defrauding her out of a multimillion-dollar inheritance. Mary Trump's case had its roots in the 1981 death of her father Fred Trump Jr., Donald Trump's older brother, who left Mary, then 16, a profitable real estate portfolio. Now a 57-year-old psychologist, Mary Trump claimed that her uncles Donald and Robert Trump and aunt Maryanne Trump Barry were supposed to protect her interests but instead "squeezed" her out of tens of millions of dollars. The cases are Mary L. Trump v Donald J. Trump et al, New York State Supreme Court, New York County, No. 654698/2020, and Donald J. Trump v Mary L. Trump et al in the same court, No.
☆ Trump Casts a Shadow Over Arizona’s GOP
  + stars: | 2022-11-03 | by ( Robert Robb | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/trump-arizona-gop-kari-lake-masters-senate-governor-invasion-border-school-choice-hobbs-ducey-income-tax-independents-sinema-midterm-11667393474
☆ Fact Check-Attack on Paul Pelosi did not involve third person, say officials
  + stars: | 2022-11-01 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +3 min
However, law enforcement officials told Reuters that Paul Pelosi and the suspect, David DePape, were the only two people at the Pelosi residence when police responded. Another Facebook user repeated the claim and said, “Clearly, a third person opened the door” (here). DePape, 42, is accused of attacking Paul Pelosi, 82, with a hammer after forcing his way into the couple’s home in San Francisco on Oct. 28. It said DePape told the SFPD in a recorded interview that Paul Pelosi “ran over and opened” the door when police knocked. Officials told Reuters that there was no third person present during the attack at the Pelosi residence.
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