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☆ Read the memo Google CFO Ruth Porat sent to staff about new cost-cutting, including paring back worker perks
▼ + stars: | 2023-04-04 | by ( Hugh Langley | Samantha Delouya | ) www.businessinsider.com time to read: +5 min

Googlers,This year, one of our important company OKRs is to deliver durable savings through improved velocity and efficiency. Since then, we've continued to rebalance based on data about how programs and services are being used. Improving external procurement is another area where data suggests significant savings — on everything from software to equipment to professional services. We set a high bar for industry-leading perks, benefits and office amenities, and will continue that into the future. Jen, Philipp, Prabhakar, Ruth and Thomas (co-owners of the OKR), on behalf of all PA and Functional leads

☆ Google announces a series of cost-saving measures across the company as it cuts some staff perks
▼ + stars: | 2023-03-31 | by ( Hugh Langley | ) www.businessinsider.com time to read: +6 min

Google has announced a series of cost-cutting measures across the company. Google has announced a series of cost-cutting measures as the company continues to tighten its belt and prioritize its work in artificial intelligence. While they wrote that some of these changes would not be noticeable to many staff, they added that other things "will impact some services Googlers use at work and beyond." The note added that Google is continuing to hire at a reduced pace, while redeploying teams to higher priority work. Here's the memo in full:Googlers,This year, one of our important company OKRs is to deliver durable savings through improved velocity and efficiency.

☆ EU must cut risks in ties with 'hardening' China - EU chief
▼ + stars: | 2023-03-30 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +3 min

Given China's economic size and global influence, the European Union's management of this relationship would be a determining factor for EU economic prosperity and security, she said. "How China continues to interact with Putin's war will be a determining factor for EU-China relations going forward," von der Leyen said in a speech in Brussels. Von der Leyen said it was not viable to decouple from China, but it was vital to focus on reducing the risks posed to Europe. The EU, von der Leyen said, already had a range of measures to counter economic distortions and protect its security interests, but the bloc should also look at the high-tech it shared with a changing China. Since 2019, the European Union has officially regarded China as a partner, economic competitor and systemic rival.

☆ Canada's plugging its labor shortage with 1 million people moving to the country last year, while Biden is maintaining Trump-like policies that keep immigrants out
▼ + stars: | 2023-03-29 | by ( Jason Lalljee | Madison Hoff | ) www.businessinsider.com time to read: +7 min

It's part of an effort to address the country's labor shortage, Canada's immigration minister said. The US could solve its labor shortage too, experts told Insider, but Biden would have to be bolder. President Joe Biden's current course of action could mean that the labor shortage in the US is never really solved. Biden is replacing Trump-like anti-immigration policies with his ownThat's a major reason why the persisting labor shortage will likely never resolve. It's in direct opposition to the kind of policy changes that Peri said the US needs to make to address the labor shortage.

☆ IMF chief warns of 'risks to financial stability' at China Development Forum
▼ + stars: | 2023-03-27 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

“Risks to financial stability have increased,” IMF Managing Director Kristalina Georgieva said during remarks at the China Development Forum in Beijing. Last week, concerns about Deutsche Bank and speculation over one of its bond payments also weighed on markets, prompting EU leaders to reassure the public over the resilience of Europe’s banking system. But it would still be a significant improvement on the 3% logged by the world’s second-largest economy last year — and help prop up the global economy. China’s rebound this year will allow it to contribute roughly one third of global growth, according to Georgieva. But the IMF chief urged Chinese policymakers to take steps to shift its economy and “rebalance” it toward more consumption-driven growth.

☆ Germany is overhauling its immigration rules to bolster a rapidly shrinking workforce
▼ + stars: | 2023-03-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

Currently, only people with EU passports, or those who have one parent from Germany, are eligible to hold German citizenship. Immigration reforms based on Canada's points system, meanwhile, will make it easier for skilled workers to enter the country without having professional qualifications recognized in Germany. A January survey showed that more than half of German companies are struggling to fill vacancies due to a lack of skilled workers. The number of people who can come and set up businesses will be huge and a huge benefit for the country. "The number of people who can come and set up businesses will be huge and a huge benefit for the country."

☆ IMF says risks to financial stability have increased, calls for vigilance
▼ + stars: | 2023-03-26 | by ( ) www.cnbc.com time to read: +2 min

'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid. International Monetary Fund chief Kristalina Georgieva said on Sunday that risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress. The IMF, which has predicted global growth of 2.9% this year, is slated to release new forecasts next month. Georgieva said policymakers in advanced economies had responded decisively to financial stability risks in the wake of bank collapses but even so vigilance was needed. Doing so, she said, could reduce carbon dioxide emissions by 15% over the next 30 years, resulting in a fall in global emissions of 4.5% over the same period.

March 16 (Reuters) - A U.S. bankruptcy judge declined to delay the $1.3 billion sale of crypto lender Voyager Digital to Binance.US, saying Voyager customers should not be forced to wait out a challenge by the Department of Justice that is unlikely to succeed. The government can "can step in at any time" if it believes illegal transactions are happening, but has not presented any evidence that Voyager's crypto transactions are illegal, Wiles said. They argued that the protections could rubber stamp crypto transactions that might be illegal under U.S. securities laws. Binance.US has agreed to pay $20 million in cash to Voyager, and take on crypto assets deposited by Voyager customers. Reporting by Dietrich Knauth in New York; Editing by Alexia Garamfalvi and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ ‘Chaos creates opportunities’: Strategist says to look beyond the SVB fallout — and names his top picks
▼ + stars: | 2023-03-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Markets calmed somewhat Tuesday, and Kenny Polcari, chief market strategist at SlateStone Wealth, believes the worst of the equity sell-off is over. "There's a lot of damage done to some of these stocks and they're going to need to rebalance. You need health care, you need consumer staples, you need energy. So yes, I think there are opportunities certainly in the health care space that are good dividend payers as well," he said. While the stock is not a "big sexy tech name," it is a "solid, great drug name," according to Polcari.

☆ Retirement savers can position for a ‘comeback’ after 2022 losses, says advisor. Here’s how
▼ + stars: | 2023-03-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

"It's important to remember that as long as you haven't sold those investments, you haven't realized the loss, either, and there is a potential for a comeback." It's reasonable to expect that portfolios will continue to improve in the next year, or even by year-end, she said. More from Personal Finance:Why Social Security retirement age, payroll tax may changeExperts argue Social Security retirement age shouldn't pass 67Return on waiting to claim Social Security is 'huge' Even if one sector of the financial markets performed well, you can't assume that will continue. After a tumultuous year, many older Americans are concerned about their retirement security. Nearly half, or 48%, of retired Americans believe they'll outlive their savings, a separate report by Clever Real Estate found.

☆ ‘World of pain’? These ETF strategies may be the solution for Treasury trading challenges
▼ + stars: | 2023-03-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

As short maturity Treasury bond ETFs see big inflows, more investors are taking on single-bond strategies as a solution to macroeconomic challenges. Buying Treasury bonds typically involves opening an account on TreasuryDirect or through brokerage firms like Charles Schwab. When seeking to invest in short-term Treasury bonds, Nadig advised looking for ETF products like this or a competitor's ETF products that offer similar kinds of exposure. On Friday, the 2 Year Treasury (US2Y) yield fell by more than 4 basis points to 4.86%, but returns have still increased 43 basis points this year. The 6 Month Treasury (US6M) currently holds the highest yield at 5.137% as of Friday's close.

☆ White House aims to shift cybersecurity burden from individuals and small businesses to tech providers
▼ + stars: | 2023-03-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

The White House released its long-awaited National Cyber Strategy on Thursday, providing a road map for how the Biden administration aims to defend the U.S. from a rapidly growing number of online threats. "The president's strategy fundamentally reimagines America's cyber social contract," Acting National Cyber Director Kemba Walden said during a press briefing on Wednesday. The White House is proposing that legislation establish liability for software makers which fail to take reasonable precautions to secure their products and services. The White House said the work has already started. WATCH: Closing keynote: The White House is serious about cybersecurity

☆ This growth ETF is leaving one of its top competitors in the dust. Here's how they differ
▼ + stars: | 2023-03-02 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

The Vanguard Growth ETF (VUG) has blown past one of its closest competitor from iShares, the S & P 500 Growth ETF (IVW) . The Vanguard fund has a total return of 7.96% this year, while the iShares fund has returned just 3.15%, according to FactSet. The Vanguard funds track the growth indexes from CRSP, while iShares S & P 500 follows products from S & P Dow Jones. Since IT has done well this year and energy has not, ETFs tracking S & P indices have underperformed growth ETFs tracking other indices," Ullal wrote. Meanwhile, the iShares S & P fund has more than a 4% combined weighting in ExxonMobil and Chevron .

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☆ A flight attendant’s secrets to surviving long-haul flights
▼ + stars: | 2023-03-01 | by ( Francesca Street | ) edition.cnn.com time to read: +19 min

CNN —Any air travel can be stressful, but facing down a long-haul flight can be especially intimidating. Flight attendants on long-haul flights are provided with spaces to rest. Flight attendants need to be alert throughout the journey, so they will take it in turns to refuel via mid-flight power naps. Flight attendants will greet a returning colleague with a cup of tea or coffee. For flight attendants, Major says, that will involve working over periods in excess of 24 hours.

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☆ Asian shares edge higher, dollar rally takes a breather
▼ + stars: | 2023-02-28 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, Feb 28 (Reuters) - Asian shares nudged higher on Tuesday, tracking small gains on Wall Street, while the U.S. dollar paused after a sharp rally as month-end flows lift sentiment and investors adjust to expectations of more interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.25% higher but was set to end the month down about 6%. China shares (.SSEC) was up 0.4% while Hong Kong's Hang Seng index (.HSI) was 1% higher but was on track to end its three month winning streak as the China reopening rally loses steam. China shares have also been weighed down by rising geopolitical tension, with U.S.-China relations the dominant uncertainty at the forefront of investor minds. The dollar index , which measures U.S. currency against six other peers, rose 0.048% and was set to snap a four month losing streak.

As a result, research on business cycles moved in other directions, and policymakers increasingly aimed to eliminate cyclical instability altogether. Oil and gas cycles have been closely correlated with each other and with U.S. manufacturing activity. On average, troughs in oil prices occur within ±3 months of a turning point in U.S. manufacturing activity, while troughs in gas prices occur within ±4 months. Some softness in manufacturing activity as well as oil and gas prices should therefore be expected at this point. If the current slowdown proves to be a mid-cycle soft patch, gas and especially oil prices are likely to rise strongly later in 2023.

☆ Here's what's next for income ETFs after yields surged last year
▼ + stars: | 2023-02-16 | by ( Jesse Pound | ) www.cnbc.com time to read: +4 min

International income One area where investors may look next for income is the international market, which has outperformed the U.S. in the opening weeks of 2023. Both Amplify and Schwab offer international versions of their yield funds — Amplify International Enhanced Dividend Income ETF (IDVO) and Schwab International Dividend Equity ETF (SCHY). Fixed income funds Another area that could pay off for investors is fixed income. "This is a once in many, many year opportunity to de-risk, rebalance, get back into fixed income," said Stephen Laipply, US Head of iShares Fixed Income ETFs. The fixed income ETF market is much smaller than the equity ETF market, and 2023 could see a continued growth in new categories.

☆ At least two more Fed rate hikes and no cut this year, say economists: Reuters poll
▼ + stars: | 2023-02-14 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

All 37 who replied to an extra question said the bigger risk was the fed funds rate would peak even higher. That means the Fed is going to keep the policy rate at high levels for quite a bit longer." One-third, or 18 of those 54 economists, predicted the fed funds rate would peak at 4.75%-5.00% and hold there through the remainder of the year. The unemployment rate, currently at the lowest since 1969, was expected to climb to 4.8% in Q1 2024, by which time most economists were expecting at least one rate cut. Asked which was more likely to compel a rate cut, 21 of 35 economists said a significant fall in inflation, with 14 saying a significant rise in unemployment.

Remember that your tax refund is money you gave the government earlier, so a big refund isn't better. While a smaller tax refund could be nothing more than an inconvenience, owing money on your taxes might seem downright catastrophic. Don't panicFirst off, you should know that receiving a smaller tax refund isn't the end of the world. Also know that you have options with the IRS if you owe money you don't actually have. A lower tax refund could be caused by legitimate issues, but it could also mean the taxpayer missed something important while they were preparing their taxes.

OTTAWA, Feb 7 (Reuters) - Bank of Canada Governor Tiff Macklem said on Tuesday that no further rate hikes will be needed if, as expected, the economy stalls and inflation comes down. The central bank has over the last 11 months lifted rates at a record pace to 4.5% to tame inflation, which was 6.3% in December, still well above the bank's 2% target. On Monday, a median of market participants surveyed by the central bank forecast borrowing costs would come down by half-a-percentage-point by the end of this year, and would fall further next year. "We need to pause rate hikes before we slow the economy and inflation too much. "The considerable tightening we've done will continue to work its way through the economy, and this will rebalance demand and supply and slow inflation."

☆ Time to buy the tech rally? Wall Street pros weigh in with their top stock picks
▼ + stars: | 2023-02-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Investors are flocking back into tech, after shunning the sector for the better part of 2022 amid broad risk-off sentiment. The tech-heavy Nasdaq Composite has been the best-performing Wall Street index in 2023, having gained about 15.6% since the start of the year. This could be the rebound," Wang told CNBC's "Street Signs Asia" on Thursday. " Some 87% of analysts covering the stock rate it a "buy," according to FactSet data, and give it average upside of 10.3%. Christopher Crawford, managing partner at Crawford Fund Management, told CNBC's "Street Signs Asia" on Tuesday that his firm is overweight tech "for the first time in our 10-year history."

☆ Exclusive: China eyes help for shell-shocked consumers but big stimulus unlikely-sources
▼ + stars: | 2023-02-03 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

That has raised expectations that hefty household stimulus measures could be announced at a parliament meeting in March. Prominent academics have felt emboldened to speak publicly about sizeable demand-side measures such as 1 trillion yuan ($148.28 billion) or more in consumption vouchers. Some analysts say pent-up demand during the pandemic may be enough for consumption to grow with little policy support. Household savings jumped 7.9 trillion yuan last year to 17.8 trillion yuan. Several Chinese cities have already offered about 5 billion yuan in consumption vouchers and subsidies in total since December.

☆ India Vs China: Adani Selloff Clouds India Just As China Reopens
▼ + stars: | 2023-02-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

A crisis at the Adani Group is clouding over India just as China reopens. A US short seller report alleging market manipulation and fraud at the Adani Group has caused a market rout. The Adani Group has been defending itself vigorously, but Hindenburg has also doubled down on its initial report. Still, the development has rattled investor confidence, causing a market rout with listed companies under the Adani Group losing over $100 billion in market value so far this year. But, the Hang Seng and Shanghai Composite have recovered somewhat this year after China emerged from on-off pandemic lockdowns.

☆ As rivals surged in 2022, ExodusPoint shed assets and employees amid mixed performance. It reshuffled its business in November.
▼ + stars: | 2023-02-02 | by ( Alex Morrell | ) www.businessinsider.com time to read: +8 min

a hedge fund recruiter said, commenting on the calculus for hedge fund investors. At the end of 2021, the fund's exposure had been evenly split between fixed-income and equities, according to the investor documents. In all, more than 60 portfolio managers departed or were let go in 2022, according to the investor documents and people close to the matter. After the shakeup, ExodusPoint's income stream is now even more reliant on fixed-income trading — and that may not be such a bad thing. "The fixed income piece is doing incredibly well," another hedge fund recruiter said.

Foreign investors, many of them already underweight what they consider an overpriced stock market, are reducing exposure. "Only Adani Group is trading with these ridiculously high multiples, and that is the core of the problem." "At this point in time, I don’t think it’s a systemic risk," said Jimmy Lim, chief investment officer at Modular Asset Management in Singapore. "We don't think that there's going to be a default anytime soon, although I don't expect any kind of near-term resolution between Adani Group and Hindenburg," Chao said. Yet Chao expects the selloff to help bring Indian stock valuations to more "palatable levels" for investors.

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