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☆ Base10 Partners is offering its limited partners direct access to investing in unicorn startups in order to compete against VC firms with much bigger funds. Here's how.
▼ + stars: | 2023-03-31 | by ( April Joyner | ) www.businessinsider.com time to read: +5 min

Limited partners, the investors that back VC firms, are seeking out more direct deals in startups. But often LPs don't get in until long after the VC firms have invested, so they get smaller returns. VC firm Base10 Partners has launched a program to give LPs earlier access and more upside. As the exuberance in venture capital has crashed to a halt, the institutions that back VC firms, known as limited partners, have had plenty to grouse about. The VC firm Base10 Partners seeks to offer its own limited partners a remedy to this dilemma.

☆ Starbucks shareholders want more information about the company’s anti-union efforts
▼ + stars: | 2023-03-30 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union efforts. The assessment would include remedies if it finds that Starbucks has broken its own stated commitment to workers rights. Starbucks workers rally in celebration of the first anniversary of the union's founding on December 9, 2022 in New York City. Over the past year and a half, Starbucks has been waging a bitter fight against unionization efforts. During a hearing before the Senate Health, Education, Labor, and Pensions Committee about the company’s labor practices on Wednesday, one former employee said he was wrongfully fired after organizing.

☆ New Zealand defence minister says military needs more resources amid growing challenges
▼ + stars: | 2023-03-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

WELLINGTON, March 30 (Reuters) - New Zealand's military will require big investment as it faces new challenges and greater expectations from regional allies, the country’s new defence minister, Andrew Little, said Thursday. The United States is "certainly keen to have New Zealand engaged but it’s not a decision I get to take alone,” he said. Little said that whatever New Zealand decided in terms of engaging with AUKUS, it was important that the defence force was equipped to work with its Australian counterparts. New Zealand, which spends roughly 1.5% its of GDP on its military, is undertaking a defence policy review as the country grapples with regional geopolitics and climate change. The Defence Force has been struggling with record attrition in part because of low pay, which has forced the navy to idle three of its ships and to retire its P-3 Orion fleet early.

☆ Fact Check-Andrew Lloyd Webber’s son, Nicholas, died after gastric cancer battle; no evidence death was linked to COVID-19 vaccine
▼ + stars: | 2023-03-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Lord Andrew Lloyd Webber’s eldest son, Nicholas, died following a battle with gastric cancer that has been widely documented and reported. There is no evidence his death was related to a COVID-19 vaccine, as some people are insinuating online. However, it has widely been reported that Nicholas died after an 18-month battle with gastric cancer (here, here and here). Lord Lloyd Webber then confirmed his son’s death two days later in a post on Twitter (here). There is no evidence Nicholas Lloyd Webber’s death was linked to the COVID-19 vaccines.

☆ Starbucks shareholders to vote on proposals for labor probe, succession planning
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Shareholder votes aren't binding, so the board can reject proposals even if a majority of investors vote in favor. More than 190 company-owned Starbucks locations have voted to unionize under Starbucks Workers United, according to National Labor Relations Board data as of Friday. Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City. Apple, unlike Starbucks, agreed to perform the assessment without waiting for a shareholder vote. But Trillium has more than two decades of experience putting shareholder proposals before Starbucks' board.

It's something that the Treasury and regulators did in the depths of the 2008 global financial crisis, but regulatory reforms in 2010 required a streamlined approval from Congress. Meanwhile, hardline Republicans oppose any increase in the current $250,000 Federal Deposit Insurance Corp insurance limit. Yellen explained to the U.S. Senate on March 16 that there would be no guarantee for deposits in banks not deemed a systemic threat, spooking community banks. A temporary systemwide deposit guarantee is needed to stop the bleeding," Ackman said on Twitter after Yellen's testimony to a Senate committee on Wednesday. Yellen is due to testify later on Thursday before the U.S. House of Representatives Appropriations Subcommittee on Financial Services and General Government.

☆ Gap has quietly dissolved its advertising business. It shows the challenges companies have competing for the $45 billion retail media industry.
▼ + stars: | 2023-03-22 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Gap was hoping to tap into a lucrative new revenue stream called retail media, projected to be worth $45 billion in 2023, according to Insider Intelligence, Insider's sister company. Instead of GPS Media, Gap is devoting resources to support GPS Platform, which handles logistics and fulfillment services for other retailers including next-day and two-day shipping. Gap has also started GPS Apparel, which customizes apparel for companies. Lipsman said that Gap also had a disadvantage in retail media because it only sold its own brands. Are you a Gap employee or do you have insight about retail media to share?

☆ US Sen. Scott pushes for new Fed inspector general, slams Fed over bank regulation,
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank "unable or unwilling to properly regulate" banks in a letter to Fed Chair Jerome Powell. "I am proposing legislation to establish a presidentially-appointed and Senate-confirmed inspector general for the Federal Reserve," Scott told Powell in the letter. The Federal Reserve is responsible for supervising - monitoring, inspecting and examining - certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner. Scott's legislation stems from concern in Congress that the Federal Reserve's current inspector general is not independent enough to serve as a check on the central bank. Scott also urged the Fed chief to use the central bank's policy meeting this week to examine the bank failures and identify accountable Fed personnel.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

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☆ Campbell Soup lifts sales outlook as Americans keep snacking
▼ + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Real estate prices in Singapore will take some time to 'level out': CapitaLand Investment
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReal estate prices in Singapore will take some time to 'level out': CapitaLand InvestmentAndrew Lim of the real estate investment management company says Singapore's policy responses are meant to "tame an engine that is showing signs of overheating."

☆ King Charles's coronation to feature 12 new pieces of music
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 18 (Reuters) - Twelve newly commissioned pieces of music will play at the coronation of Britain's King Charles at Westminster Abbey this May, including Greek Orthodox music, Buckingham Palace said, with the 18th century "Zadok the Priest" also to be featured. Six orchestral commissions, five choral commissions and one organ commission have been composed for the occasion, the palace said on Saturday, including a new Coronation Anthem by musical theatre impresario Andrew Lloyd Webber. Music by Elgar, Parry, and Williams were also performed at the crowning of Charles's late mother, Queen Elizabeth II, in 1953. Handel's coronation anthem "Zadok the Priest," which was composed for the coronation of King George II in 1727, will be played at the ceremony, the palace said. I hope my anthem reflects this joyful occasion," composer Lloyd Webber said of his coronation anthem in the statement.

☆ Etsy shares fall after Citron Research calls out platform for counterfeit goods
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - Citron Research said on Thursday Etsy Inc (ETSY.O) has become one of the largest platforms in the world for counterfeit goods, sending the e-commerce firm's shares down about 6%. Citron Research, which cemented its reputation in the research industry by calling out poor performers and betting against their stock, said the percentage of counterfeit goods on the platform had become too large and Etsy could no longer defend it as a small percentage of revenue. The research firm alleged that Etsy has allowed sellers on the platform to buy "ad words" of the brands and then labeled many of them as trusted websites. In November, the e-commerce platform posted a third-quarter loss for the first time in eight quarters, hurt by higher shipping costs and a strong dollar. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Sting to get highest Ivors honour at songwriting awards
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

LONDON, Feb 15 (Reuters) - Music star Sting will be honoured at this year's Ivors, the annual awards honouring songwriters and screen composers, receiving an Ivors Academy fellowship, organisers said on Wednesday. The award is the highest honour bestowed by the UK-based Ivors Academy to those "who have truly reshaped and redefined the art and craft of music creation". "Of all the awards in the world of music, The Ivors are for me, the most prestigious. Songwriting is a skilled craft and The Ivors Academy are its guild," Sting, 71, said in a statement. Named after the early 20th century Welsh composer, actor and entertainer Ivor Novello, the Ivor Awards were first handed out in 1956.

REUTERS/Gonzalo FuentesPARIS, Feb 13 (Reuters) - Airbnb (ABNB.O) is offering a night for two in the Palais Garnier opera house in Paris this summer, transforming a box in the theatre into a plush bedroom with sweeping views of the famous auditorium. Before the pandemic, Airbnb had created other unusual overnight stays in the French capital, one of its key markets. The Palais Garnier stay includes a music recital, dinner in an ornate rehearsal room backstage and a behind-the-scenes tour of the elaborate 19th century building, including its underground pool, the inspiration for the phantom's lair in the book and musical. The Palais Garnier stay will be listed on March 1 for 37 euros, also the number on the box, one of the theatre's most prestigious, which will be decked out with antique furniture specially for the night. I think it will be a bit unreal," said Veronique Dubrulle Leroux, the great-granddaughter of Phantom of the Opera author Leroux, who will host the visitors.

☆ Hate your commute? It might actually be good for your mental health, scientists say.
▼ + stars: | 2023-02-07 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

The commute is often seen as a chore, but the pandemic showed it can be good for your mental health. You need protected time to mentally switch gears after work to prevent burnout, two experts said. This happens on two fronts, the researchers said: psychological detachment and psychological recovery. In an unpublished study, the researchers asked 80 university employees to discuss situations when they were able to mentally switch off. Remote workers, who don't tend to have a commute, can also learn to switch off by creating a fake commute for themselves.

☆ China keeps insisting its real-estate market is not in a crisis — even as just about every sign points to the opposite
▼ + stars: | 2023-02-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

The IMF said in a report on China's economy that the country's property crisis remains "unresolved." But China's hit back at that, saying its property market "has been operating smoothly in general, and is not in a 'crisis' situation." China's real estate market has been mired in debt woes for the past few years. The IMF says China's property crisis "intensified" in 2022The IMF said in its Friday report China's property crisis "intensified" in 2022. The debt crisis also had a deep social impact.

It is rare for investors to take short positions in securities of Indian companies. Securities rules in India also make it hard to quietly build short positions. Institutional investors are obliged to disclose their short positions upfront and there are other restrictions and registration requirements on foreign investors. In Adani, for example, Hindenburg held the short positions through U.S.-traded bonds and non-Indian-traded derivatives. China's strict investment rules make it all but impossible to take short positions in domestic-listed Chinese stocks from overseas.

Alphabet Inc (GOOGL.O), which has the smallest cloud business among the three, said Google Cloud grew 32%, the slowest rise since the company began reporting the measure in 2019. "Once thought as the most defensive revenue stream in tech, we are seeing investors questioning the cyclicality for the (cloud) business," analysts at Bernstein said. Microsoft's revenue in its so-called intelligent cloud business that includes Azure rose 18% to beat expectations for October to December. Amazon finance chief Brian Olsavsky said on Thursday that the company expects slower cloud growth rates for the next few quarters. "Those (AI) advancements and demand for related cloud services will take time to materialize.

☆ Stranded Detroit Pistons' game is postponed after team waited seven hours at airport amid Texas winter storms only to be forced back to hotel
▼ + stars: | 2023-02-02 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The Detroit Pistons played the Dallas Mavericks Monday night, and were unable to leave Dallas due to icy conditions. NBA games have rarely been postponed due to weather in recent years compared to the number of games missed due to COVID outbreaks. However, the team — still stuck — was forced to return to their hotel after seven hours at the airport. The game was later postponed, according to ESPN. Over the course of the pandemic, NBA games routinely were postponed or canceled due to COVID outbreaks among players.

[1/2] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. On Wednesday, a $2.5 billion sale of shares by one of its companies Adani Enterprises ADEL.NS was called off. Adani Group and the stock market regulator the Securities and Exchange Board of India (SEBI) did not respond to a request for comment. Cracking the code of how Hindenburg did the trade could lead to more short sellers taking positions against Indian companies, which have been rare, analysts said. But several bankers familiar with trading in Indian securities said the more profitable piece of the short seller’s bet would likely lie in the derivative trades it had placed.

Brisbane CNN —Australia’s new $5 banknote will not feature Britain’s King Charles III, but rather a new design that honors “the culture and history of the First Australians,” its central bank announced Thursday. The bank will consult with First Australians in designing the $5 banknote, which could take several years to be issued, it added. The mint has said it expects to unveil the design of the first King Charles coins early this year. In Australia, the Queen’s portrait “has been represented in every Australian banknote series since her coronation,” through seven decades, according to the RBA. Video Ad Feedback CNN reporter predicts what we'll see from King Charles 05:17 - Source: CNN— CNN’s Anna Cooban and Angus Watson contributed to this report.

☆ Support for New Zealand's Labour Party jumps after Hipkins replaces Ardern
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Jan 31 (Reuters) - Support for New Zealand's Labour Party has jumped to its highest level in almost a year after Chris Hipkins replaced Jacinda Ardern as prime minister and leader of the Labour Party. National is sitting at 37%, and is behind in Labour for the first time since early 2022. Hipkins had nailed the political messaging and managed to reconnect with former Labour supporters, said political commentator and former National Party staffer Ben Thomas. Carmel Sepuloni, the new deputy prime minister, who is of Samoan, Tongan and European descent, will be associate foreign minister. Hipkins's first official trip as prime minister will be to Australia next week where he is scheduled to meet with Prime Minister Anthony Albanese.

☆ 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.

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