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☆ A recession could hit white-collar workers the hardest. Here’s why
▼ + stars: | 2022-11-16 | by ( Alison Kosik | ) edition.cnn.com time to read: +2 min

New York CNN Business —White collar workers would be hit harder than blue collar workers if the United States enters a recession soon, according to one economist, who said businesses have undergone a dramatic restructuring after the pandemic. “Covid shifted things around,” said William Lee, chief economist at the Milken Institute. The pandemic has accelerated automation, Lee said, and that’s pushing low-skilled white collar workers out of jobs. Those tend to be high-paying, more white-collared jobs, Challenger said. “Tech companies hired a lot over the past year and a half and they’re going through what seems to be a correction,” he said.

☆ A recession would likely hit white collar workers more, economists say
▼ + stars: | 2022-11-16 | by ( Alison Kosik | ) edition.cnn.com time to read: +2 min

☆ How to protect your family against Covid-19 illness this Thanksgiving
▼ + stars: | 2022-11-16 | by ( Katia Hetter | ) edition.cnn.com time to read: +8 min

FG Trade/E+/Getty ImagesWhat are steps people can take to protect themselves and their loved ones against Covid-19 during Thanksgiving dinners and other gatherings over the coming holidays? The most important thing we can all do to reduce the likelihood of becoming severely ill is be up-to-date with the Covid-19 vaccine. Of course, masking is a precaution that will reduce risk, though it’s harder to do when attending events with food and drink. The other mitigation measures that help reduce the risk of Covid-19, including ventilation and masking, will also help to reduce other virus transmission. There are steps we can take to reduce risk and allow for happy, in-person reunions over Thanksgiving and other upcoming holidays.

☆ Cathie Wood's Innovation ETF surges 13%, on track for its best day ever
▼ + stars: | 2022-11-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Cathie Wood's flagship ARK Innovation ETF staged a dramatic relief rally Thursday on the back of an easing inflation reading . ARKK's biggest holding Zoom Video popped about 12%, while Tesla jumped nearly 7%. The innovation investor has been calling deflation for some time, betting the high prices were caused by temporary Covid-related supply issue. The innovation investor just doubled down on a slew of her favorite stocks this week, unfazed by the turmoil in many of these names. Wood snapped up shares of six companies Wednesday, including adding to some of her largest holdings Zoom Video and Tesla.

☆ Party that wins midterms needs to recognize growing importance of Southeast Asia: Think tank
▼ + stars: | 2022-11-09 | 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 EmailParty that wins midterms needs to recognize growing importance of Southeast Asia: Think tankCurtis Chin of the Milken Institute says the region is a "terrific opportunity" for investors and shouldn't be seen solely in terms of its significance to U.S.-China relations.

☆ Global supply chain woes have seen 'huge improvement,' Flexport founder says
▼ + stars: | 2022-10-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Global supply chain woes have eased ahead of the holiday season, according to Flexport founder and co-CEO Ryan Petersen. Ports are less congested, and the cost of shipping goods has fallen significantly this year, Petersen said. The global supply chain was pummeled with high costs, lengthy delays, crowded ports and shipping container shortages during the coronavirus pandemic. Flexport helps its customers navigate supply chain challenges by providing them with more visibility and data-driven control over their inventories while they are in transit. But despite the improvements to the supply chain, Petersen is not convinced the industry has learned much from the challenges of the pandemic.

☆ What Cramer is watching Wednesday — Netflix's big rebound, PG beats on earnings
▼ + stars: | 2022-10-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Deutsche Bank upgrades NFLX to buy with a price target of $350, up from $270, sees more levers to drive growth. Microsoft (MSFT) price target lowered to $282 from $300 at Citi — estimates still too high ... ServiceNow (NOW) — expect disappointment according Citi analyst's "cautious" conversations with partners … lowered price target to $488 from $575. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

"There's a reasonable chance of a recession in the U.S., but it's not certain," Solomon said on Tuesday after the company released third-quarter earnings. "Fitch expects the U.S. economy to enter genuine recession territory — albeit relatively mild by historical standards — in 2Q23." David Solomon, Chairman and CEO of Goldman Sachs, speaks at the 2022 Milken Institute Global Conference, in Beverly Hills, California, U.S., May 2, 2022. "Private equity activity gets reset at a time like this because values have to come down because financing costs have gone up," he said. "So there's been less private equity activity right now."

☆ Goldman Sachs is set to report third-quarter earnings — here’s what the Street expects
▼ + stars: | 2022-10-18 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday. Here's what Wall Street expects:Earnings: $7.69 per share, 49% lower than a year earlier, according to RefinitivRevenue: $11.41 billion, 16% lower than a year earlier. Trading Revenue: Fixed Income $3 billion, Equities $2.59 billionInvesting Banking: $1.84 billionWill Goldman's traders do well enough to offset weak investment banking results? While Wall Street rivals including JPMorgan Chase and Morgan Stanley posted sharp declines in third-quarter investment banking revenue, better-than-expected fixed income results amid volatile markets helped buoy their institutional businesses. Last week, JPMorgan and Wells Fargo topped expectations for third-quarter profit and revenue by generating better-than-expected interest income.

The bank reported $18.51 billion in revenue versus the $18.25 billion expected by analysts, according to Refinitiv. On the trading front, Citigroup reported $3.06 billion in fixed income revenue and $1.01 billion in equities revenue. Citigroup reported a $520 million pretax benefit in the third quarter related to the divestiture of its Asia consumer business. Like the rest of the industry, Citigroup is also contending with a sharp decline in investment banking revenue. The bank reported $631 million in investment banking revenue for the third quarter, down more than 60% year over year.

☆ ARK's Cathie Wood issues open letter to the Fed, saying it is risking an economic 'bust'
▼ + stars: | 2022-10-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Cathie Wood, Founder, CEO, and CIO of ARK Invest, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, May 2, 2022. The Federal Reserve likely is making a mistake in its hardline stance against inflation Ark Investment Management's Cathie Wood said Monday in an open letter to the central bank. Instead of looking at employment and price indexes from previous months, Wood said the Fed should be taking lessons from commodity prices that indicate the biggest economic risk going forward is deflation, not inflation. Specifically, the consumer price and personal consumption expenditures price indexes both showed inflation running high. Headline CPI rose 0.1% in August and was up 8.3% year over year, while headline PCE accelerated 0.3% and 6.2% respectively.

In the wake of Hurricane Ian, the living have struggled to account for all the dead. More than half of the victims drowned, the Florida Medical Examiners Commission has reported. A high-water vehicle with responders drives through a flooded neighborhood in the aftermath of Hurricane Ian in North Port, Fla., on Oct. 3. Precisely how many have died as a result of Hurricane Ian is a point of contention. “The communities hit by Hurricane Ian were places that have many new residents who had never experienced a major storm,” he said.

☆ New Foreign Secretary Cleverly says UK's strategic shift to Indo-Pacific is 'permanent'
▼ + stars: | 2022-09-29 | by ( Ted Kemp | ) www.cnbc.com time to read: +1 min

SINGAPORE — The United Kingdom will commit itself more fully to the Indo-Pacific region, beyond its ongoing efforts to join a massive trade deal in the region, the country's new foreign secretary said Thursday. "The Indo-Pacific tilt is here to stay," James Cleverly said at the Milken Institute Asia Summit. That "tilt" toward the Indo-Pacific will include further cooperation on economic issues, security matters and "shared values," Cleverly said. Cleverly said that 1.7 million British citizens live in the region, and the United Kingdom has trade relationships worth $250 billion in the Indo-Pacific. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, is a trade pact that currently includes seven countries in Asia-Pacific and four in the Americas.

☆ Cathie Wood's new fund gives small investors access to the VC market for just $500
▼ + stars: | 2022-09-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Cathie Wood, chief executive officer and chief investment officer, Ark Invest, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Cathie Wood's Ark Invest launched a new venture capital fund, targeting individual investors with a minimum investment of just $500. "We are doubling down on innovation," Wood said in an interview on CNBC's "Squawk Box" Tuesday. The ARK Venture Fund charges a flat management fee of 2.75%, and does not charge any carried interest or load fees. Ark's flagship Innovation Fund (ARKK) has been under water all year as Wood's disruptive darlings have been some of the biggest victims of rising interest rates.

☆ Unlike recent recessions, office jobs are most at risk of layoffs in the coming economic downturn
▼ + stars: | 2022-09-25 | by ( Ben Winck | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Several blue-collar sectors are set to be protected from layoffs, while white-collar workers are at risk. Lee added to Insider that blue-collar workers like truck drivers used to be the "most vulnerable workers" but "office workers have always been considered protected." White-collar sectors hired quickly after the pandemic, and it could leave workers vulnerable in a downturnRecessions come in all shapes and sizes. Blue-collar jobs are still in demand and need more workersSeveral blue-collar sectors have only just recently recovered or are still making their way back. But not all blue-collar jobs will experience layoffs in the same way.

☆ Citigroup CEO says higher rates to moderate growth in U.S,, world
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: 1 min

Citi CEO Jane Fraser speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/Mike Blake/File PhotoNEW YORK, Sept 21 (Reuters) - Citigroup CEO Jane Fraser told Congress on Wednesday higher rates to tame inflation are likely to moderate economic growth in the United States and in the rest of the world. "We are very concerned about the high prices that consumers are facing in America and indeed, around the world," she said in response to a question during the House of Representatives Financial Services Committee hearing. Register now for FREE unlimited access to Reuters.com RegisterReporting by Pete Schroeder and Lananh NguyenOur Standards: The Thomson Reuters Trust Principles.

☆ Watch CNBC's full interview with William Lee of the Milken Institute
▼ + stars: | 2022-09-08 | 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 EmailWatch CNBC's full interview with William Lee of the Milken InstituteThe Milken Institute's Bill Lee joins 'The Exchange' to discuss the economic implications of recent Fed policy and dampening inflation expectations in housing markets.

☆ The Fed is using tough talk that's credible, says Bill Lee of the Milken Institute
▼ + stars: | 2022-09-08 | 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 EmailThe Fed is using tough talk that's credible, says Bill Lee of the Milken InstituteThe Milken Institute's Bill Lee joins 'The Exchange' to discuss economic implications of recent Fed policy and dampening inflation expectations in housing markets.

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