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☆ UK's Lloyds Bank offers UK staff 2,000 pounds minimum pay rise
▼ + stars: | 2022-11-03 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

LONDON, Nov 3 (Reuters) - Britain's biggest domestic bank Lloyds has offered UK staff a minimum 2,000 pounds ($2,242) pay rise, a source with knowledge of the talks told Reuters, as lenders and employees across the sector begin annual pay talks that could see wage bills soar. Union Unite said it recommended members accept the "unprecedented offer", noting it directed higher awards to the lowest paid. The 2,000 pound uplift represented an average 10% pay rise for staff on lower grades, Unite said, with staff at higher grades getting a 4% increase. "The pay offer represents a win for the workforce," said Caren Evans, national officer for Unite. Lloyds was the first major British bank to offer staff an unscheduled pay boost to help them cope with the increased cost of living earlier this year.

☆ Bank of England set for biggest rate hike in 33 years, but economists expect dovish tilt
▼ + stars: | 2022-11-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

New Prime Minister Rishi Sunak has scrapped the controversial tax cuts at the heart of predecessor Liz Truss' fiscal policy agenda, meaning fiscal and monetary policy are no longer pulling in opposite directions. Deutsche Bank also expects a split vote on Thursday in favor of a 75-basis-point hike, taking the key interest rate to 3%. Deutsche Bank now expects the Bank Rate to reach 4.5% by May next year, down from its previous projection of 4.75%, on account of retreating fiscal stimulus and a push toward fiscal consolidation. watch nowBank of England Deputy Governor for Monetary Policy Ben Broadbent said in a recent speech that GDP would take a "pretty material" hit from such aggressive policy tightening. The Bank's August growth forecasts, which already pointed to a five-quarter recession, were based on a much lower Bank Rate of around 3%.

☆ More airlines adopt BNPL options to let travelers pay in installments
▼ + stars: | 2022-10-31 | by ( Monica Pitrelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore airlines adopt BNPL options to let customers pay for flights in installmentsTom Botts of BNPL firm Uplift discusses how this payment model is different from paying for a flight with a credit card.

☆ Want to book a flight but pay for it next year? Here's how it works
▼ + stars: | 2022-10-31 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

More airlines are partnering with "buy now, pay later" firms to give customers the option to pay for their flights in installments, instead of a lump-sum payment. But they were always predicated on the consumer being required to complete payment before they travel," Botts said. There's no credit check and no financing terms, but travelers must secure the flight with a deposit and pay the full fare before flying. Australia's largest airline Qantas launched BNPL services in May 2022, which allows international passengers on select routes to book a flight but pay the fare later. Not just airlinesThe online travel agency Booking.com works with the BNPL company Zip, which lets travelers pay for hotels, cruises, cars and travel experiences in installments.

☆ Rishi Sunak is worth almost $850 million, making him Britain's richest prime minister. Here's why that could be a big problem.
▼ + stars: | 2022-10-30 | by ( Ryan Hogg | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

UK Prime Minister Rishi Sunak is worth about $850 million according to the Sunday Times Rich List. With wealth that rivals King Charles III, the former finance minister is the richest UK leader ever. The 42-year-old former chancellor (finance minister) has a net worth of £730 million ($847 million) according to the Sunday Times Rich List, and was ranked 222nd in May. Queen Elizabeth II was estimated to be worth about $440 million before her death, according to the Sunday Times. The ex-finance minister has a 19th century, Grade II-listed mansion in Yorkshire as well as a London home worth millions.

But Silva is getting a second chance to celebrate her quinceañera or 15th birthday in a different, more empowering way. Silva is part of Quince to the Polls, a campaign by Poder Quince geared to mobilize young women to become civic and community leaders. Poder Quince is a program run by Jolt Initiative, a progressive nonprofit organization focused on increasing the civic participation of Latinos, especially young Latinos. “Even though I can’t vote yet," Silva said, "I want to motivate others." Organizers on the ground will be speaking with community members, many of who are first-time voters, said Christine Bolaños, director of communications at Jolt Action, Jolt Initiative's political arm.

☆ Apple surges to add $178 billion in market value as 4th-quarter earnings help drive a turnaround in the stock market
▼ + stars: | 2022-10-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Apple soared 8% on Friday following the release of its better-than-expected fourth-quarter earnings report. The iPhone maker added $178 billion in market value on Friday and helped drive a strong rebound in the stock market. "Apple saves the market from big tech meltdown," Louis Navellier said in a Friday note. The surge added $178 billion to Apple's market capitalization and helped drive an impressive rebound in the broader stock market, with the Dow Jones, Nasdaq 100, and S&P 500 all surging more than 2% in afternoon trades. But Wall Street remains upbeat on Apple, especially after a week of disappointing results from its mega-cap tech peers.

☆ An Apple and Tesla exec who quit to build his own startup now has a star-studded list of investors
▼ + stars: | 2022-10-28 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

"I felt there was something left in me to build a zero-to-one startup," said Sukemasa Kabayama, the co-founder and CEO of Uplift Labs. The opportunity to work for not just one but two tech giants was "very rewarding" for Sukemasa Kabayama. I was thinking, it would be much more exciting to really build something from scratch, from the ground up. "I was thinking, it would be much more exciting to really build something from scratch, from the ground up." Uplift Labs

☆ Reckitt upbeat on sales outlook as prices rise
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

The higher prices, which are contributing to a global cost-of-living crisis, are denting sales volumes as many people turn to cheaper or private label products. The company's third-quarter like-for-like revenue rose 7.4%, above the 6.1% growth analysts had expected in a company-supplied poll. Sales volumes declined 4.6%. Prices for the company's products rose 12% in the quarter. Reckitt, which has held off on price increases in this category, said it estimated this benefit to have added about 3% to net revenue growth in the third quarter.

She said that she did not see herself reflected on other dance teams on campus. The history of majorette-style dance teamsStarting in the 1960s, majorette dance teams became popular at HBCUs for their high energy movements that infuse jazz, West African and hip-hop dance styles. The majorette dance teams often perform alongside a marching band in glittery outfits while doing flips in the air or showcasing other gymnast moves. Those performances, usually held at HBCU football games and homecoming events, were an opportunity for majorette dance teams to show off their skill and even battle with rival schools. Another coach for the team, Princess Alintah, agreed, saying groups like the USC Cardinal Divas show that majorette dance teams are not monolithic.

☆ Should you buy Netflix stock after the streaming giant's upbeat earnings report? 3 Wall Street analysts share their outlooks for the firm — and where they think its share price is headed next.
▼ + stars: | 2022-10-20 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Shares of Netflix have been on tear since Tuesday evening when the streaming giant beat expectations in its third-quarter earnings report. Markets InsiderThe upbeat report came after the firm suffered two dismal earnings reports in the first half of the year. On Wednesday morning, Wall Street firms released their analyses of the stock, and updated their price targets for it. It reissued both its underweight rating on the stock and price target of $196, which is 27% downside from current levels. While acknowledging that adding subscribers in the US and Canada would be difficult, he said the firm could increase revenues through price hikes.

☆ Indigenous Latino L.A. residents feel hurt, betrayed by racist remarks
▼ + stars: | 2022-10-13 | by ( Associated Press | ) www.nbcnews.com time to read: +7 min

But the disparaging remarks still deeply hurt the city’s immigrants from Oaxaca, which has one of Mexico’s large indigenous populations. Both growing up in their homeland and after reaching the U.S., they say they’ve become accustomed to hearing such stinging comments — not only from non-Latinos but from lighter skinned Mexican immigrants and their descendants. Martinez used a disparaging term for the Black son of a white council member and called immigrants from Oaxaca ugly. Los Angeles is home to the country’s largest Mexican population and nearly half the city of 4 million people is Latino, census figures show. Informal studies indicate several hundred thousand Oaxacan immigrants live in California, with the largest concentration in Los Angeles, said Gaspar Rivera-Salgado, director of the University of California, Los Angeles Center for Mexican Studies.

☆ Read the pitch decks that helped 7 sports and gaming startups raise millions of dollars
▼ + stars: | 2022-10-13 | by ( Colin Salao | ) www.businessinsider.com time to read: +3 min

Sports betting has also added new facets to the industry in the S.Here are pitch decks that seven sports startups used to raise millions in Series A and Seed rounds. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators. Insider talked with a handful of sports startup founders who've pitched their startups to investors about their process. They broke down the pitch decks they used to secure millions of dollars in funding. Read the pitch decks that helped seven sports-focused startups to raise millions of dollars:

☆ OpenInvest cofounders share lessons learned from getting acquired by JPMorgan and how fintechs can 'maintain that special sauce' after getting bought
▼ + stars: | 2022-10-10 | by ( Asia Martin | ) www.businessinsider.com time to read: +9 min

One of those acquisitions was OpenInvest, a deal JPMorgan announced last June and completed months later in August. But I think that JPMorgan, and maybe others in the space, have learned 'how do we maintain that special sauce," said Levin. Here's three things the OpenInvest cofounders have learned since last year about how best to transition into a bigger organization. Though it's still in the middle of its integration, OpenInvest has already begun to roll out fund reporting to the bank's wealth management businesses. All of those deals seem to have helped the bank streamline certain parts of integration, Murray said.

The people of Iran are in open revolt, this time led by courageous young women protesting the murder of Mahsa Amini, a young Kurdish woman who died in the custody of the morality police, and the law requiring they wear hijab. Most significantly, this current uprising over the murder of a Kurdish 22-year-old is being led by the young women of the TikTok generation. Pro-regime chants of “death to America” and “death to Israel” have been a staple of the rhetorical diet fed to the public. To that end, pro-Palestinian sympathy was ingrained in Iran’s propaganda via school textbooks, television programs, sports, cartoons, billboards and more. In 1979, the people of Iran yearned for a democratic revolution; instead, they got an Islamic dictatorship.

☆ Home improvement companies could see increased sales following Hurricane Ian, Wells Fargo says
▼ + stars: | 2022-09-28 | by ( Pippa Stevens | ) www.cnbc.com time to read: +3 min

Wells Fargo said Wednesday that retail names exposed to the housing theme could see a "possible uptick in 2H Home Improvement demand." Fadem added that even beyond the possible uptick in sales from the storm, defensive positioning is warranted across hardline retailers. Wells Fargo said that the storm could contribute between 30 and 80 basis points of incremental quarterly comparisons across its home improvement coverage in Florida alone. Wells Fargo noted that the benefits to Floor & Decor Holdings, for example, depends on the extent of water damages. Wells Fargo said that while comparisons can be attractive quarter over quarter or year over year, it doesn't necessarily mean higher margins.

☆ Opinion: The British Empire: A legacy of violence?
▼ + stars: | 2022-09-25 | by ( Peter Bergen | ) edition.cnn.com time to read: +19 min

A related question is also surfacing now: What is the legacy of the British Empire writ large? Bergen: This reassessment of British Empire: You are leading the charge. Bergen: So, are the British in high school as they learn about British history being told a bunch of fairy tales? Are there similarities between the 1619 Project and what you and other colleagues are doing in your reassessment of the British Empire? And I think that’s what we’re seeing in different kinds of ways with the history of the British Empire.

☆ 'Queer Eye's Karamo Brown on the morning routines that keep him motivated
▼ + stars: | 2022-09-24 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

To help others be positive and productive, Brown shared the steps he takes to stay motivated in the morning and throughout the day. While getting ready for work, Brown makes sure that he practices positive affirmations. Brown recommends that people make time in the morning to do an activity they love. According to Brown, practicing self-love and positive mental health doesn't end at home. Because a lot of times we just assume that the people in our lives love us," Brown explains.

☆ The North Face is renaming its fleece jackets and spotlighting the Sherpa people
▼ + stars: | 2022-09-23 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +5 min

The North Face is dropping the word “sherpa” from the name of its fleece jackets this fall, using the opportunity to highlight the heritage of the Sherpa people. The collection, which was called sherpa fleece jackets and vests, will now be called “pile” fleece, as will all of the company's fleece products moving forward. A Women's High Pile Nuptse Jacket by The North Face. The North Face has credited the Sherpa people for helping guide the company’s athletes for decades during expeditions in the Himalayan mountains. The North Face isn’t the only company to use the word "sherpa" to describe products.

☆ RBC says buy Nike, the '100lb gorilla in sportswear' as stock is poised to surge 27%
▼ + stars: | 2022-09-22 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

The firm on Thursday initiated coverage of Nike with a buy rating and a $125 price target, implying a 27% upside to shares. Nike has also stayed one step ahead of its competition through digital and direct to consumer growth. "Nike Digital generated $11bn revenues in FY22 (almost 60% of DTC), of which half are derived from its app suite." China growth In addition, as China comes back online following prolonged Covid-lockdowns, there are green shoots for Nike in the region. If margins in China recover to their peak of 38%, RBC sees mid-single digit earnings upside for Nike.

There’s no palpable hunger for a shutdown so close to the Nov. 8 midterm elections, so Congress must pass a bill by midnight Sept. 30 to avert a lapse in funding. “The cleaner the bill is, the more likely” it is to pass quickly, said Senate Minority Whip John Thune, R-S.D. He wants tens of billions for Covid, and he says the pandemic is over,” said Sen. Bill Cassidy, R-La., a physician. Cases, hospitalizations, deaths, mental health aspects of Covid, long Covid. But conservatives are rebelling, saying Congress should push the issue into 2023 in the hope that the GOP will seize the majority and write legislation to its liking.

☆ UK government borrows more than expected in August
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. The Office for National Statistics said public sector borrowing excluding state-owned banks stood at 11.82 billion pounds ($13.44 billion). A Reuters poll of economists had pointed to borrowing of 8.45 billion pounds for the shortfall in August. Register now for FREE unlimited access to Reuters.com RegisterThe pound dipped on the news and briefly touched $1.1349, its lowest against the U.S. dollar since 1985. ($1 = 0.8797 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Andy Bruce; editing by William James and Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Oyo will check into public markets in better shape
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

The logo of OYO, India's largest and fastest-growing hotel chain, installed on a hotel building is seen through wires in an alley in New Delhi, India, September 25, 2018. REUTERS/Anushree Fadnavis - RC1364FBCAC0MUMBAI, Sept 20 (Reuters Breakingviews) - A recovery in travel means Oyo is set to check into public markets in better shape. The budget hotel chain founded by Ritesh Agarwal grew revenue 18% to 49 billion rupees ($615 million) in the year to March. The uplift was reported in an addendum to its draft initial public offering document first filed a year ago. Earlier Oyo was targeting a whopping $11 billion valuation, equivalent to 19 times trailing sales.

☆ Ron DeSantis said the migrants he flew to Martha's Vineyard 'hit the jackpot' — but immigration experts say the stunt more closely resembles a 'different shade of family separation'
▼ + stars: | 2022-09-20 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

Ron DeSantis defended his decision to fly dozens of migrants from Texas to Martha's Vineyard. Over the weekend, he suggested that those migrants "hit the jackpot" by landing in Massachusetts. "Florida is not on the US-Mexico border, so the migrants were transported to Martha's Vineyard from Texas on Floridians' dime." It's carefully-chosen language on DeSantis' part but doesn't represent the reality for most migrants, according to immigration experts. The migrants who landed in Martha's Vineyard last week were given misleading brochures promising cash assistance and job placement services before touching down on the island, according to lawyers for the migrants.

☆ Adobe’s $20 bln deal uses ample creative license
▼ + stars: | 2022-09-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +3 min

The design technology titan is acquiring startup Figma for $20 billion, using roughly half cash and half shares, in a deal that will significantly beef up its online collaboration capabilities. Even if it doubled again in 2023, it would represent just 4% of the $20 billion that analysts expect Adobe to generate, according to Refinitiv. Register now for FREE unlimited access to Reuters.com RegisterThis math suggests Narayen has used too much creative license. And yet even then Adobe saw fit to double up on the $10 billion Figma valuation from June 2021, per PitchBook, and shell out an eye-popping multiple of sales. CONTEXT NEWSAdobe said on Sept. 15 it had agreed to buy digital design rival Figma for about $20 billion, paying about half in cash and half in shares.

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