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☆ Wall Street sees the Fed starting to signal toward a recession ahead
▼ + stars: | 2023-03-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The Wall Street consensus after the Federal Open Market Committee meeting concluded Wednesday was equally cautious. "We took the broad signals from this meeting as lifting perceptions of recession risks within the Fed," wrote Matthew Luzzetti, chief U.S. economist at Deutsche Bank. "Powell noted that recent events will certainly not reduce recession risks, even if how much they heighten those risks remains uncertain." The risk from rates Worries remain that more Fed rate hikes will exacerbate banking problems by creating more duration risk. "We expect the FOMC to hike another 25bp in May, bringing the funds rate target range to 5.00-5.25%," wrote Barclays chief U.S. economist Marc Giannoni.

☆ A popular post on Blind says all tech workers who got jobs during the pandemic were 'charity cases,' but getting hired now at a big tech company will actually mean something
▼ + stars: | 2023-03-20 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

A popular post on workplace forum Blind calls tech workers hired during the pandemic "charity cases." One popular post on the anonymous workplace forum Blind takes that a step further, saying tech employees brought on during the pandemic were "charity cases." Tech companies added many new employees to their ranks during the pandemic, when business was booming for the sector. At the time time, other commenters on the popular Blind post defended employees who got tech jobs during the pandemic. "Also I refuse to believe I am some charity case, I was good enough for the company, did their process and got hired.

CHICAGO, March 14 (Reuters) - U.S. airlines on Tuesday tried to reassure investors about the strength of travel demand, a day after United Airlines (UAL.O) stoked worries about the industry's pricing power. Even as executives in other sectors of the economy have warned of recession risks, airline chief executives until now have remained upbeat as consumer travel demand stayed strong. Delta reaffirmed its first-quarter outlook, saying travel demand is strong and getting stronger. American Airlines (AAL.O) CEO Robert Isom said the Texas-based carrier was enjoying "tremendous" demand. Airline ticket prices have gone up due to persistent capacity constraints and an unending thirst for travel after pandemic-related restrictions ended.

See Insider's picks for the best mortgage lenders »Insider's Featured Mortgage Lenders Rocket Mortgage by Quicken LoansAmeriSave Mortgage Corporation MortgagesNew American Funding Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Only a handful of US states require financial education in high schools, and those requirements are thin. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. There's a dearth of consumer education built into our financial systems (likely by design).

☆ Meta is downranking open roles for managers internally, amid 'the flattening' and ahead of expected layoffs
▼ + stars: | 2023-03-07 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

Meta employees are starting to hear about the "opportunity to convert" to a non-management role. Further layoffs are expected amid Mark Zuckerberg's push for a more efficient organization. Mark Zuckerberg's mandate to "flatten" the organizational structure of Meta is getting underway, leaving employees on tenterhooks about changes to their work and expected layoffs. About a week ago, the company, formerly known as Facebook, began downranking unfilled jobs at the M1 level to the E6 level, according to two employees familiar with the change. The down leveling of the M1 roles is affecting jobs open to internal transfers, as Meta remains in a broad hiring freeze.

☆ Salesforce's Marc Benioff says tech CEOs everywhere might soon unleash their inner Elons
▼ + stars: | 2023-03-05 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Insider's Rebecca Knight is a Gen X working mom who tried TikTok's "Bare Minimum Monday" trend. Insider's Rebecca Knight studies TikTok to learn how to do Bare Minimum Monday. Sarah MackenzieWhen I first heard about "Bare Minimum Monday," the latest TikTok trend to emerge in the workplace, I thought it was nonsense, Insider's Rebecca Knight writes. But when my editor suggested I give Bare Minimum Monday a try and then write about it, I leapt at the opportunity. Key takeaways from Goldman's investor day.

☆ Alphabet venture arm CapitalG names Laela Sturdy new head of firm, David Lawee steps aside
▼ + stars: | 2023-03-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

CapitalG partner Laela Sturdy is on track to be one of the year's biggest investors. Alphabet's growth stage venture arm, CapitalG, has named Laela Sturdy its new leader. The move means CapitalG will be one of the few venture firms to be led by a female partner. Generally speaking, CapitalG invests a lot like other growth-stage firms, but with only one limited partner as an investor -- its parent company, Alphabet. "I would say the value Laela has provided has been significantly higher than the money anyone's provided″ Duolingo CEO Luis Von Ahn told CNBC at the time.

☆ Facebook is becoming more like Instagram as Mark Zuckerberg whittles down manager ranks and further layoffs loom
▼ + stars: | 2023-02-28 | by ( Kali Hays | Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Facebook is expected to see layoffs amid Mark Zuckerberg's new mandate to "flatten" the company. Facebook, founded by Meta CEO Mark Zuckerberg twenty years ago, is in the process of being further streamlined, two people familiar with the company told Insider. The company's goal is to have Facebook's structure more closely resemble that of Instagram, the people said, as Zuckerberg looks to cut costs and declares 2023 to be the "year of efficiency." "It's not surprising," another person familiar with the company said of plans to change the structure at Facebook. The current organizational structure at Facebook is essentially what's known as "a matrix" model, one of the people familiar said.

☆ How Elon Musk Ruined Tesla, Let Other Car Companies Catch up on EVs
▼ + stars: | 2023-02-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +12 min

"I feel stupid driving around with my brand-new Tesla Model Y," Mark told me. Tesla spent the past two decades defying expectations and disrupting the automotive industry, but in 2023 the once revolutionary car company did the seemingly unthinkable: It turned fanboys against it. But after years of rocketing ahead of legacy car companies' tech, the futuristic guts of Tesla's vehicles have started to go stale. Companies like Ford and Audi are changing their sales strategies to model Tesla's innovative direct-sales style. These companies have something Musk doesn't: nationwide networks of brick-and-mortar locations where customers can have their vehicles serviced and repaired.

[1/2] People stand in line to use an ATM money machine in Saint Petersburg, Russia February 27, 2022. For the majority, who bank in roubles with huge retail lenders, such as Sberbank (SBER.MM), the answer is: not much. "Nothing has changed for me at all," said Vyacheslav Fatikhovich, a taxi driver in the Urals city of Yekaterinburg. "The only thing is that customers are paying less by card and more often in cash," he said. "I quickly opened three UnionPay cards at different Russian banks," Andrey, who now works outside Russia, said.

☆ Retailers are hoarding labor even as tech layoffs mount
▼ + stars: | 2023-02-14 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Some retailers are bucking the trend of layoffs and holding on to workers. But on the store level, retailers are holding on tight to their workers, even seasonal workers who they typically would have dismissed by now, in a practice known as "labor hoarding." "The concept of labor hoarding is alive and well," Kenneth Kim, a senior economist at KPMG, told Insider. Anna Moneymaker/Getty ImagesThose layoffs don't seem to be an emerging trend in the retail sector, Kim from KPMG said. And while there were 417,000 job cuts in January, the official models were accounting for a lot more, since that's when many retailers typically begin laying off seasonal workers.

☆ These are the startups to bet your career on, based on 3 key factors
▼ + stars: | 2023-02-10 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +3 min

I'm Diamond Naga Siu, and a little more than a year ago, I bet my career on Insider. A few key factors molded my decision: the editor (AKA my boss), my team, the ability to have journalistic impact, and our company's trajectory. Although I made the jump in very different economic circumstances, these are integral factors to consider for anyone's next career steps. They found the 43 startups to bet your career on this year, looking at a variety of factors, including the founding team, the market, and its stature among investors. From left to right: Phaedra Ellis-Lamkins, Nikhil Mathew, Jaleh Rezaei, and Anurupa Ganguly Promise; Mutiny; Prisms; Marianne Ayala/InsiderThese are the startups to bet your career on.

☆ Commercial real estate's biggest investors are spending hundreds of millions of dollars on the grittiest land in America. Here's why.
▼ + stars: | 2023-02-09 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +11 min

Big commercial-real-estate players from Brookfield to Fortress are snapping up industrial land. Brookfield is one of several big-name investors that are paying increasing attention to lowly industrial land. Industrial land also generally has lower operating costs and taxes compared to other real estate. It's hard to find big enough portfolios of industrial landThere are challenges, too, in breaking into the business of owning industrial land. Atkins said he has been impressed by the robustness of the IOS market, even with fears about the broader economy.

☆ Morning Bid: Powell confesses 'This time it's different'
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +5 min

Any fear of a radical Fed rethink on the back of the jobs numbers seemed wide of the mark. "This cycle is different from other cycles...it has just confounded all sorts of attempts to predict," Powell admitted. And many think last week's jobs report should similarly be treated with care. They included a minimum tax for billionaires and a quadrupling of the tax on corporate stock buybacks. Brands, Eaton Corp, etcUS terminal rateReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, Editing by Raissa Kasolowsky <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ I work in HR. Here's the hardest layoff I've ever done.
▼ + stars: | 2023-02-04 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Angela Champ is an HR executive. At one former company, Champ said, the layoffs were scheduled in 15-minute increments over the day. The downsizing described in the essay below took place at a company where Champ was previously employed. We had simultaneous terminations going on, and each HR business partner was assigned one or two people. Another HR person would go and gather the person's belongings — their purse, their keys, their lunch bag — and bring them to the room.

☆ The era of health insurance disruptors is over
▼ + stars: | 2023-02-02 | by ( ) www.businessinsider.com time to read: +10 min

Today, they're mostly the poster children of just how challenging it is to break into the insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderOscar, founded in 2012, and Bright, in 2015, set out to sell health plans to people buying coverage through the Affordable Care Act marketplace. Elevance Health, the parent company of Anthem health plans, is No. Health insurance remains overly complex and mind-numbingly frustrating. Established health insurers haven't been able to stem the rise in health costs, which are mostly determined by the prices for medical care.

☆ U.S. African American studies does not include material targeted by Florida governor
▼ + stars: | 2023-02-01 | by ( Brad Brooks | ) www.reuters.com time to read: +3 min

Feb 1 (Reuters) - An African American studies course for U.S. high school students that was released on Wednesday does not include material that Florida's conservative governor said pushed a liberal agenda, the latest development in a fierce debate about politics, education and censorship. Henry Louis Gates Jr., director of Harvard University's Hutchins Center for African and African American Research, was among scholars who praised the curriculum in the College Board statement. On Tuesday, more than 200 African American studies faculty members from dozens of universities published an open letter defending the course and expressing their "outrage at the efforts of Florida Governor Ron DeSantis to delegitimize the AP's pilot curriculum in African American Studies." "We categorically reject DeSantis's autocratic claim to knowing what college-level material should be available in an AP African American Studies course." DeSantis and other Florida officials accused the lessons of being "indoctrination" for including Black queer studies, Black Lives Matter, reparations, and the abolishment of prisons.

I waited until April to file last year, but I'm going to be more proactive with my taxes this year. Personal Info Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Taxable income $ 0 Effective tax rate 0 % Estimated federal taxes $ 0 Federal taxes withheld $ 0How I filed my taxesThere's a lot of ways to do your taxes. TaxSlayer filed my federal and my state taxes for me, but didn't file my city taxes. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 3.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Tax Slayer's website Learn more On Liberty Tax's website Learn more On H&R Block's websiteGetting my refundAfter a couple weeks, my refund came in the mail.

☆ A 29-year-old entrepreneur who is using YouTube to create financial independence says there are 2 main ways to earn passive income — and why you should focus on passive income instead of side hustles
▼ + stars: | 2023-01-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

One entrepreneur says to focus on building passive income streams so you can free up time and energy. There's a big difference between passive income and side hustle income, emphasized 29-year-old entrepreneur Vanessa Ideh Adekoya. Once you do that, you can start generating passive income from things like affiliate links and platform income. If you do have savings, though, there's a second main way to earn passive income — and that's by investing. If you don't have any savings but still want to earn passive income, "then you should consider building," she said.

☆ China, U.S. spar at WTO meeting over disputes
▼ + stars: | 2023-01-27 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

China's ambassador to the WTO Li Chenggang spoke at a meeting on trade disputes shortly after the United States lodged an appeal against a series of WTO rulings involving China, Turkey, Norway and Switzerland which found that U.S. metal tariffs breached global rules. Washington, which has long criticized the WTO dispute system for overreach and is leading discussions on reforming it, has criticized both rulings. The United States said it regretted the metal tariffs dispute with China was even on the agenda at the meeting and accused Beijing of imposing "illegal unilateral retaliatory measures" on U.S. exports. "A WTO that serves to shield China's non-market policies and practices is not in anyone's interest," said Deputy United States Trade Representative Maria Pagan, according to a copy of her speech. In an interview with Reuters on Thursday, Pagan played down the significance of more vocal criticism of Washington by China at WTO meetings.

☆ Some of the most controversial beauty gurus are speaking out as a TikTok star's mascara review stirs up explosive drama on the app
▼ + stars: | 2023-01-27 | by ( Andrew Lloyd | ) www.businessinsider.com time to read: +6 min

Controversial beauty gurus Jeffree Star and James Charles are among those weighing in on the drama. The video received over 47,800 comments, many of which doubted the end result of the product and accused Nogueira of wearing synthetic lashes. " On January 26 he posted a TikTok video with the caption, "An UNsponsored Loreal Telescopic Mascara review." Beauty guru Alissa Ashley posted a TikTok video accusing Nogueira of, as she phrased it, "allegedly putting on a false lash to promote a mascara." Beauty YouTuber Raw Beauty Kristi also weighed in with a TikTok saying, "I think it's our responsibility and duty as influencers to keep our authenticity.

If everyone in the world expertly utilized credit card rewards to travel for free, there wouldn't be such amazing travel opportunities out there. Identify your travel goalsBefore you begin collecting credit card rewards, you should first identify your travel goals. Amex Membership Rewards points Capital One miles Chase Ultimate Rewards points Choice Privileges points Citi ThankYou points Hilton Honors points Hyatt points IHG Rewards points Marriott Bonvoy points Wyndham Rewards pointsYou travel with a large family Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Recommended credit card strategies for beginnersThe best practice for anyone new to credit card rewards is to invest in flexible points. You'll need: An annual fee-incurring Hilton credit card One of the greatest deals in credit card rewards is the free night certificate that comes with select American Express Hilton credit cards.

Although Britain saw the same easing of wholesale energy prices, UK industry - by stark contrast - continued to contract this month. More than two thirds of the 42 economists polled by Reuters this month expect another hefty 50 basis point rate rise to 4% next week, while their average 'terminal rate' forecast implies yet another quarter point rise to 4.25% after that. Despite economic funk, the implied peak BoE rate derived from money and swaps markets shows almost another full percentage point of hikes to 4.5% before the Bank calls it quits later this summer. Either way, the eventual outcome leaves the BoE and the pound in something of a half way house. Reuters Graphics Reuters GraphicsUK vs Euro zone economic surprise gapThe opinions expressed here are those of the author, a columnist for Reuters.

☆ 'Doomsday Clock' moves to 90 seconds to midnight as nuclear threat rises
▼ + stars: | 2023-01-24 | by ( Katharine Jackson | ) www.reuters.com time to read: +4 min

The clock's hands are moved closer to or further away from midnight based on scientists' reading of existential threats at a particular time. The new time reflects a world in which Russia's invasion of Ukraine has revived fears of nuclear war. "Russia's thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict by accident, intention or miscalculation is a terrible risk. The clock had been set to 100 seconds to midnight since 2020, which was already the closest it had ever come to midnight. At 17 minutes to midnight, the clock was furthest from "doomsday" in 1991, as the Cold War ended and the United States and Soviet Union signed a treaty that substantially reduced both countries' nuclear weapons arsenals.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

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