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☆ Market-making giant Citadel Securities is rebuilding the tech that powers its trades as it eyes growth
▼ + stars: | 2024-10-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +7 min

Ken Griffin's market maker, Citadel Securities, is revamping its core trading infrastructure. AdvertisementIn 2023, Citadel Securities COO of technology, Jeff Maurone, was meeting with senior leaders to discuss technology priorities for the year. I almost look at it as the stretching of business," Woods told Business Insider. Building Citadel Securities' trading infrastructure of the futureIn the last few years, Citadel Securities pushed into credit trading, expanded its rates franchise, and introduced an institutional options offering. Maurone's team supports Citadel Securities' technology organization, and he manages a team of 15 people.

Persons: Ken Griffin's, Josh Woods, Jeff Maurone, —, Maurone, Woods, Matt Culek, Peng Zhao, Jim Esposito Organizations: Citadel Securities, Service, Securities, McKinsey, Deloitte, COOs, Citadel Securities Each Locations: Asia Pacific, EMEA, COOs —, New York, Jeff's

☆ Three years ago, this Florida high school started a skilled trades program — now there's a waiting list to get in
▼ + stars: | 2024-10-05 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Angela Ramirez-Riojas, 18, is enrolled in Riverview High School's construction academy. Courtesy: Riverview High SchoolFor Angela Ramirez-Riojas, 18, going to college was always plan B. Ramirez-Riojas, who is a senior at Riverview High School in Riverview, Florida, enrolled in her school's recently opened vocational program in construction. "Construction trades is not just the physical part, there's other parts of it that encompass the whole industry," Lahdenpera said. In fact, new construction hires earn more than new hires in the professional services, according to payroll-services provider ADP.

Persons: Angela Ramirez, Ramirez, Riojas, I've, isn't, Erin Haughey, Riverview's, Haughey, Jeff Lahdenpera, It's, Lahdenpera, Katie Alderman, Ted Jenkin, Gen, There's Organizations: Riverview, Riverview High School, Finance, Teens, Neal Communities, Associated Builders and Contractors, Junior Achievement, Citizens Bank Locations: Riverview, Riverview , Florida, Lakewood Ranch , Florida, Atlanta

☆ Top news app in U.S. has Chinese origins and ‘writes fiction’ with the help of AI
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: +7 min

Billing itself as "the go-to source for all things local," Newsbreak says it has over 50 million monthly users. "It seems this 'news' outlet's AI writes fiction they have no problem publishing to readers." Billing itself as "the go-to source for all things local," Newsbreak says it has over 50 million monthly users. Two local community programs assisting disadvantaged people told Reuters they were impacted by erroneous stories produced by NewsBreak's AI. The company launched in the U.S. in 2015 as a subsidiary of Yidian, a Chinese news aggregation app.

Persons: Newsbreak, NewsBreak, Harvest912, Jeff Zheng, Zheng, Norm Pearlstine, Pearlstine, paywalls Organizations: Facebook, Reuters, Fox, AP, CNN, NewsBreak, NewsBreak's, Food, Wall Street Journal, Los Angeles Times, LA Times Locations: China, United States, Bridgeton , New Jersey, Small Towns, Mountain View , California, Beijing, Shanghai, America, U.S, Colorado, Erie , Pennsylvania, Yidian, NewsBreak

☆ Apple is no longer No. 1 in smartphones. Here's why that may not matter
▼ + stars: | 2024-04-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

New data showing a sharp decline in iPhone shipments due to weakness in China is unwelcome news for investors in Apple. Sluggish iPhone sales this year have been well documented, and they're the reason Apple shares have fallen roughly 9% in 2024. First-quarter numbers from International Data Corporation (IDC) show the extent of the weakness, with iPhone shipments dropping 9.6% year-over-year to 50.1 million units — its sharpest year-over-year loss out of the top five smartphone brands. That put Samsung back in first place for phone shipments, after Apple held the crown for all of 2023 . AAPL YTD mountain Apple YTD Echoing Jeff's remarks, Jim Cramer has advised members to have patience and "own, don't trade" Apple stock despite these headwinds overseas.

Persons: Jeff Marks, it's, Jim Cramer, Apple, iPhones, that's, Jim, Apple hasn't, Jim Cramer's, Alexi Rosenfeld Organizations: Apple, International Data Corporation, IDC, Samsung, Apple's Worldwide, Nasdaq, Microsoft, Nvidia, JPMorgan, 5G, The, Bloomberg, CNBC, Getty Locations: China, New York City

☆ What yachting industry insiders have to say about Jeff Bezos' superyacht
▼ + stars: | 2024-03-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Read previewIt's been just about a year since Koru, Jeff Bezos' $500 million megayacht, set sail from the Oceanco shipyard in the Netherlands, capturing the attention of yachting insiders and land dwellers alike. Unlike many other megayachts, Koru, which media billionaire Barry Diller's Eos inspired, is designed as a sailing yacht. AdvertisementLike most other megayachts, Koru is powered by her engines, which are reportedly innovative in their use of a kinetic energy recovery system. AdvertisementTeak or not, the yachting industry isn't generally known for being all that environmentally friendly — or indeed lowkey, so many who BI talked to didn't buy into the idea that Koru is "too much." It's the latest superyacht to capture the yachting world's attention.

Persons: —, Jeff Bezos, Koru, they'd, Federico Rossi, Barry Diller's Eos, he'd, Bezos, Lauren Sanchez, Origin's, Shephard, That's, Anders Kurtén, I'm, Jerry Jones, Bernard Arnault, Mark Zuckerberg Organizations: Service, Palm, Business, Industry, Yachts Locations: Netherlands, St, Myanmar

☆ At unicorn startup Carta, a culture of absolute fealty to an erratic and vindictive CEO, employees say
▼ + stars: | 2023-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +17 min

Both men remained valued employees at Carta, with the sales representative even getting promoted just weeks after the alleged "helicopter penis" incident, according to former employees. CEO Henry Ward cofounded Carta, originally called eShares, in 2012 as a service for startups to digitize their paper stock certificates. Today Carta helps startups track their investors, employees manage their equity awards, and venture capitalists administer their funds. The lawsuit says that 10 days after Rogers filed her complaint, Ward "began treating Ms. Rogers in an aggressive and demeaning manner during several meetings." Many of the employees who have spoken out publicly about Carta and Ward have found themselves embroiled in expensive legal battles.

Persons: Lisa Whittaker, Whittaker, Jerry Talton, David Kim, Andrea Lamari, Kim, Henry Ward, Andreessen Horowitz, Ward, Henry, Alex Kurland, Carta, Peter Thiel, Simon Cowell, Talton's, Suzanne Elovic, Elovic, Lamari, Jeff Perry, Perry, salespeople, JT Goodman, Goodman, Goodman didn't, Jeff Perrry, Allie Rogers, Rogers, Rodgers, Rachel Mayes, Ward doesn't, Mayes, Jeff, Jeff Perry countersued, Orrick Herrington, Sutcliffe, Kleiner Perkins, Ellen Pao, Amanda Sheets, Sheets, Pushback, Lindauer, Whitaker, Whittaker wasn't, Barbara Byrne, Byrne, Talton, Joe Osnoss, Osnoss, Heidi Johnson, Johnson Organizations: Carta, UBS, Gold Club, Lightspeed, California Civil Rights Department, Meritech, YouTube, Win, York Stock Exchange, San, San Francisco Superior, San Francisco Superior Court, Barclays, Lehman Brothers, Montana Human Rights Bureau Locations: San Francisco, Brazil, Silicon Valley, California, Palo, Iranian, Lindauer, Silver, Montana

☆ Celebrity florist Jeff Leatham is in full bloom
▼ + stars: | 2023-09-04 | by ( Emily Kirkpatrick | ) edition.cnn.com time to read: +9 min

In his latest book, “The Art of the Flower,” Leatham returns to some of those signature, emotive moments. Weldon Owen/The Art of the Flower Forsythia branches and phalaenopsis orchids arranged in the lobby of the Four Seasons Philadelphia. Weldon Owen/The Art of the Flower Roses, hydrangeas, and leather leaf installed around a chapel at a private wedding in Texas. Weldon Owen/The Art of the Flower Pictures: Jeff Leatham in full bloom Prev NextLeatham’s floral designs don’t just take you into the past, they make a definitive imprint on the present. Weldon Owen/The Art of the FlowerWell, my relationship started with her mom, Kris Jenner.

Persons: Jeff Leatham, florals, Kardashian, Jenner, —, France’s Chevalier, Leatham, Weldon Owen, Kim Kardashian, Philadelphia . Weldon Owen, There’s, Ross Harvey Weldon Owen, ”, George V, Styles, Flowers, Karl Lagerfeld, Lee McQueen, Tom Ford, Marc Jacobs, Louis Vuitton, McQueen, Kris Jenner, she’s, Kimberly, She’s, They’re, Kim, It’s Organizations: CNN, Philadelphia, George V Hotel, Pictures, George Locations: Beverly Hills, Paris, Texas, New York, Palm Beach , Florida, Woodstock, England, —

☆ Goldman Sachs' Jeff Currie, who predicted commodities supercycle, to retire
▼ + stars: | 2023-08-07 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 7 (Reuters) - Goldman Sachs' (GS.N) global head of commodities research Jeff Currie, a prominent analyst who accurately predicted a surge in commodity prices in the 2000s, is retiring, according to a memo seen by Reuters. Julian Salisbury, chief investment officer of its asset and wealth management arm, is departing to join investment firm Sixth Street, according to an announcement last month. His forecast was borne out in what would become known as the commodities supercycle, during which crude oil surged to record highs in 2008. More recently, Currie revived his prediction for another supercycle fuelled by pandemic stimulus measures and rebounding economic activity. Currie joined Goldman in 1996 and was promoted to managing director in 2002, then partner in 2008.

Persons: Goldman Sachs, Jeff Currie, Currie, Julian Salisbury, Jan Hatzius, Goldman, Dina Powell McCormick, Lisa Opoku, Saeed Azhar, Lananh Nguyen, Sam Holmes Organizations: Reuters, Sixth, Reuters Commodities Summit, University of Chicago's Energy Policy Institute, Goldman, Thomson

☆ Veteran banker Jeffrey Schmid picked to lead Kansas City Fed
▼ + stars: | 2023-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Jeffrey Schmid, the new president and CEO of the Kansas City Fed. The Kansas City Federal Reserve is about to get a new leader as the inflation-fighting central bank plots its course ahead. Schmid will serve the remainder of George's five-year term helming the Kansas City Fed, which will take him to Feb. 28, 2026. Interestingly, he arrives at the Fed just before the Kansas City district hosts its annual Jackson Hole summit, which this year will run from Aug. 24-26. The retreat features a keynote address from the Fed chair and often is pivotal in laying out policy strategy.

Persons: Jeffrey Schmid, Jeffrey R, Schmid, Esther George, Southern Methodist University's, Maria Griego, George, Jackson Organizations: Kansas City Fed, Kansas City Federal, Southern Methodist, Southern Methodist University's Cox School of Business, Federal Deposit Insurance Corporation, Mutual, Omaha Bank, Federal Reserve, Associates, Fed, Kansas City Locations: Omaha, Raby, Albuquerque , New Mexico, Kansas

☆ Amazon founder Jeff Bezos is playing an increasingly active role in The Washington Post's operations, report says
▼ + stars: | 2023-07-22 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Jeff Bezos is playing an increasingly active role in operations at The Post, The New York Times says. Bezos has sought to make The Post an international force and has encouraged digital experimentation. Patty Stonesifer, the interim chief executive for The Post, told The Times that Bezos was thrilled with "every dollar invested" in the company. Bezos encouraged digital experimentation when he first bought the newspaper, angling to make The Post into an international powerhouse. After Bezos' initial purchase of The Post, his influence was less visible in the newsroom, according to two individuals who spoke with The Times.

Persons: Jeff Bezos, Bezos, Trump, Patty Stonesifer, Stonesifer, Graham, cratered, Sally Buzbee —, Marty Baron —, Fred Ryan —, —, Sally Quinn, Ben Bradlee, haven't Organizations: The New York Times, Amazon, The Washington Post, Post, The Times, Times, The, Washington Post

☆ Read the 17-page pitch deck that helped a former WME agent raise $25 million in VC to capitalize on celebrity-backed brands like Gal Gadot's mac and cheese
▼ + stars: | 2023-07-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Read the deck he's using to raise his first venture round of $50 million. In 2018, he left Roar, the management company he started in 2003, to launch Fourward, a management, production, and investment firm. And Fourward has just announced its first VC fund, Fourward Ventures, an early-stage growth fund focused on investments in health and wellness, sustainability, and consumer packaged goods. Fourward says it's looking to companies that disrupt traditional consumer categories, drive societal change, and have celebrity tie-ins. Check out the pitch deck Fourward used to raise the first $25 million of its planned $50 million fund.

Persons: Will Ward, He's, Adam Sandler, Ryan Reynolds, Chris Hemsworth, Zac Brown, Fourward, Gal Gadot, Jay, Austin Nelson, Ward, Chris Hemsworth's, Mark Bezos, there's, he's Organizations: CAA, Roar, Fourward Ventures, Marcy Venture Partners, Bryn Pharma, Corp, HighPost, Hollywood Locations: Fourward, Hollywood, Nashville, —, Centr

☆ Canada's Ritchie Bros raises cash payout under revised offer for IAA
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Jan 23 (Reuters) - Canada's Ritchie Bros Auctioneers (RBA.TO) on Monday sweetened the cash component of its buyout offer for IAA Inc (IAA.N) by 28%, valuing the U.S. auto retailer at $5.94 billion, and also secured the backing of a key IAA shareholder which had questioned the initial offer. IAA shares rose 4.9% in morning trade, while Ritchie Bros's Toronto-listed shares were up 3%. The improved offer comes at a time when many companies are reducing costs and initiating layoffs in face of a potential economic downturn. Under the revised offer, IAA stockholders would receive $12.80 in cash, up from $10 earlier, and 0.5252 Ritchie Bros. share for each IAA share, down from 0.5804. Ritchie made the initial offer in November, valuing the company at about $7.3 billion, including debt.

☆ Happy 50th anniversary to the discovery of the Santa Claus rally
▼ + stars: | 2022-12-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Happy 50th Anniversary to the discovery of the Santa Claus rally. It's that time of year again: the Santa Claus rally. Santa Claus rally: what it is The Santa Claus rally is a short rally that runs from the last five trading days of the year to the first two trading days of the New Year. According to one study, a Santa Claus rally has materialized in four out of every five years since 1950. His father, Yale Hirsch, a friend of mine for many years, discovered and named the Santa Claus rally in 1972.

☆ Microsoft's MIT blackjack whiz who was accused of treating women unfairly is leaving, according to a leaked internal memo
▼ + stars: | 2022-08-29 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Microsoft for Startups boss Jeff Ma, an MIT-trained blackjack whiz accused of treating women unfairly at work, is leaving the company, according to an internal email viewed by Insider. Charlotte Yarkoni, Microsoft's cloud and artificial-intelligence chief operating officer, announced the change internally on Friday, saying Ma is "leaving Microsoft to pursue his next adventure." "Jeff's expertise and impact on Microsoft for Startups has been notable," Yarkoni wrote in the email. While there's no indication Ma's departure is related to the allegations, Ma is the latest executive accused of mistreating employees to leave Microsoft in recent months. Current and former Microsoft employees alleged Kipman repeatedly got away with inappropriate behavior toward women employees, including unwanted touching.

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