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☆ A brief history of the beef between 2 rising political stars: Ron DeSantis and his California nemesis, Gavin Newsom
▼ + stars: | 2023-06-16 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

On Thursday, Ron DeSantis dared Gavin Newsom to run for president. Ron DeSantis threw out a challenge to his Californian counterpart, Gov. In July, DeSantis attacked Newsom after Newsom put up an ad in Florida enticing Floridians to move to California. Newsom told MSNBC in April that he thought DeSantis was better off waiting "a few years" instead of running in 2024. Newsom has been beefing up his baseWhile DeSantis continues to wrestle with a twice-indicted Trump, Newsom has been working to shore up his platform.

Persons: Ron DeSantis, Gavin Newsom, DeSantis, Trump, Newsom, —, Biden, MAGA, Donald Trump, he's, Floridians, Insider's Kimberly Leonard, Newsom sparred, Sean Hannity, Twitter's, MSNBC's Mehdi Hasan, Adam Parkhomenko, Ron Filipkowski, who's, Newsom's, Hannity Organizations: GOP, Service, Florida Gov, Democratic, Fox News, Hannity, Fox, DeSantis Locations: Florida, California

☆ What to know about Trump’s court appearance
▼ + stars: | 2023-06-13 | by ( Jeremy Herb | Holmes Lybrand | ) edition.cnn.com time to read: +8 min

Trump’s aide, Walt Nauta, was also charged in the indictment and is expected to appear in court alongside the former president. Here’s what to know about Tuesday’s court appearance:What happens when Trump gets to the courthouse? CNN reported that Trump’s team has had difficulty retaining seasoned lawyers. The former president is set to return to his Bedminster, New Jersey, resort following his court appearance Tuesday. Following that court appearance, he flew back to Mar-a-Lago and delivered a speech in front of supporters that night.

Persons: Donald Trump, Trump, He’s, Jack Smith, Trump’s, Walt Nauta, Jonathan Goodman, Alieen Cannon, Cannon, Jorge Colina, Jim, John Rowley, Todd Blanche, Chris Kise, Benedict Kuehne, it’s Blanche, Boris Epshteyn, Nauta, Stanley Woodward, Smith, Karen Gilbert, Gilbert, Nauta –, Police Manuel Morales Organizations: CNN, US, Trump, Miami, Former Miami, Justice Department, Trump’s Save America PAC, Who’s, Miami US, Lago, Trump’s, Navy, Trump White House, Trump –, Prosecutors, FBI, Department of Homeland Security, Miami Police Department, Federal Protective Service, DHS, Service Locations: Miami, Lago, Manhattan, Bedminster , New Jersey, New York, Florida, Kise, Washington, DC, Trump from New Jersey, Mar, Police, Bedminster

☆ Mexico foreign minister quits in bid to clinch presidential nomination
▼ + stars: | 2023-06-07 | by ( Dave Graham | ) www.reuters.com time to read: +4 min

[1/4] Mexican Foreign Minister Marcelo Ebrard raises his fist while announcing he will resign next week to focus on winning the nomination of the leftist National Regeneration Movement (MORENA) ruling party for next year's presidential election, at a hotel in Mexico City, Mexico, June 6, 2023. Mexico's U.N. ambassador Juan Ramon de la Fuente and ambassador to the U.S. Esteban Moctezuma are seen by many analysts as the favorites to replace Ebrard as foreign minister. As foreign minister, it is harder for Ebrard to address domestic issues than for Sheinbaum and Interior Minister Adan Augusto Lopez, another leading contender, Buendia said. Following Ebrard's announcement, MORENA party chairman Mario Delgado told Mexican radio the party's contenders would ultimately have to resign to ensure a fair contest. During Monday's meeting, Lopez Obrador said he had urged the party to remain united, and pledged not to influence the outcome of MORENA's internal contest.

Persons: Marcelo Ebrard, Andres Manuel Lopez Obrador, Mayor Claudia Sheinbaum, Ebrard, Mexico's U.N, Juan Ramon de la Fuente, Esteban Moctezuma, Lopez Obrador, MORENA, Jorge Buendia, Marquez, Buendia, Adan Augusto Lopez, Lopez, Mario Delgado, Dave Graham, Anthony Esposito, Gerry Doyle, Raju Gopalakrishnan Organizations: Foreign, Regeneration, Read, MEXICO CITY, Mayor, U.S, Thomson Locations: Mexico City, Mexico, MEXICO, U.S, Mexican, State of Mexico

NEW YORK, June 6 (Reuters) - Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. Other companies are also beefing up their presence in China, including Starbucks, which plans to open 3,000 new stores there by 2025. Subway's deal with master franchisee Shanghai Fu-Rui-Shi Corporate Development Co Ltd (FRS) is the largest such agreement in Subway's history. FRS will get exclusive rights to manage and develop all Subway locations in China. "China is a key market with significant long-term growth opportunity, and we look forward to bringing the Subway experience to even more guests in the region," Subway Chief Executive John Chidsey said in a statement.

Persons: John Chidsey, Hilary Russ, Lincoln Organizations: YORK, Starbucks, Shanghai Fu, Corporate Development Co, Asia Investment Capital, Thomson Locations: China, U.S

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A.

Persons: Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Marco Valla, Jeff Hinton, Kurt Anthony, dealmaker Michael Klein, Braham, Hardegree, Casavechia, Ramos, Meyer, Tittle, Milana Vinn, Anirban Sen, Greg Roumeliotis, Lisa Shumaker Organizations: YORK, Barclays Plc, UBS Group AG, Barclays U.S, UBS, Credit, Group, Credit Suisse, Barclays, Reuters, Broadcom, VMware Inc, Thomson Locations: United States, Swiss, Zurich, New York

☆ A secret Cold War-era deal lets British jets shadow Russian bombers when they fly near a vital Atlantic chokepoint
▼ + stars: | 2023-05-29 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Since the 1950s, Ireland has allowed British jets to intercept Russian aircraft near Irish airspace. Irish Air Corps PC-9s fly by an Irish navy patrol vessel in August 2006. SaabThe Irish military has a few short-range RBS-70 surface-to-air missiles that can reach 16,000 feet, backed by Giraffe search radars. Mulqueen said that official Irish and British statements suggest British pilots could intercept intruders but not actually shoot at them. Should Sinn Fein take power in the future, it would be responsible for Ireland's security, including its air defense.

☆ Blackstone, the massive private-equity firm, just wants to be your friendly, neighborhood lender
▼ + stars: | 2023-05-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Your friendly neighborhood lender, BlackstoneWhat's the first thing that pops into your head when you think of a regional bank? Nouriel Roubini, the famed economist known as "Dr. Doom" isn't too optimistic about the future of regional banks. Never one to miss a chance to make money, Blackstone CEO Stephen Schwarzman said his firm can "fill the void" left by regional banks tightening up their lending activity. Regional banks happen to be one of the biggest lenders in commercial real estate. Doom' is feeling bearish on regional banks.

☆ Target is being held hostage by an anti-LGBTQ campaign
▼ + stars: | 2023-05-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

New York CNN —During every Pride Month in June for the past decade, Target has sold merchandise for LGBTQ customers, employees and allies. But this year, Target faced an anti-LGBTQ campaign that went viral on social media. Fueled by far-right personalities and on social media platforms, the anti-trans campaign spread misleading information about the company’s Pride Month products and its business practices. It won’t be worth whatever they think they’ll gain.”The campaign became hostile, with threats levied against Target employees and instances of damaged products and displays in stores. Meeting demandTarget became the focus of the anti-LGBTQ campaign’s ire for its Pride Month merchandise, but the campaign misrepresented Target’s ambitions.

Persons: ”, Matt Walsh, Kelley Robinson, Bud Light, Yoram, “ It’s, Brian Cornell, Fortune, Erik Carnell, ” Target, Gavin Newsom, Sarah Kate Ellis, Tim Calkins, Ron DeSantis, “, Paul Argenti Organizations: New, New York CNN, Target, Twitter, Human Rights, Pride, University of Pennsylvania’s Wharton School, Gallup, ”, Wall Street Journal, GLAAD, Northwestern University’s Kellogg School of Management, Companies, Nike, Disney, Florida Gov, Los Angeles Dodgers, Dodger, Dartmouth University’s Tuck School of Business Locations: New York, California, statehouses

☆ Ukraine wants to work with Western countries to create another 'sea of NATO' on the border with Russia
▼ + stars: | 2023-05-24 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Doing so would help turn the Black Sea into another "sea of NATO," the foreign minister said. "It's time to turn the Black Sea into what the Baltic Sea has become, a sea of NATO," Dmytro Kuleba said. "The Black Sea can never be a NATO sea," Kremlin spokesman Dmitry Peskov said in response to Kuleba's comments. The Black Sea region is "a strategically important area for Euro-Atlantic security," Geoană said in April. At the conference in April, Romania's foreign minister said a strong NATO presence in the Black Sea was a "must."

NEW YORK, May 22 (Reuters) - JPMorgan Chase & Co (JPM.N) is beefing up its commercial banking business that caters to tech startups and other early-stage companies, the company said on Monday. The largest U.S. lender plans to add staff after it hired more than a hundred bankers this year to serve companies in the so-called innovation economy in sectors such as technology, e-commerce and life sciences. Two other regional lenders were subsequently seized by banking regulators, including First Republic Bank, which JPMorgan bought earlier this month. JPMorgan's broader commercial bank has more than 18,000 clients, including mid-sized businesses and corporations, government entities and non-profits and more than 33,000 real estate investors or owners. It also aims to expand overseas to serve early-stage companies in the United Kingdom, Europe and Asia.

☆ House swaps and dog walks: Travelers find cheaper alternatives to lodging
▼ + stars: | 2023-05-22 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

About one night in a hotel, along with the time she spent walking dogs, watering plants and changing litter boxes. Some are taking road trips instead of flying or booking a budget hotel room. Travelers in March booked 21 million short-term rental nights, the highest number of future nights booked on record, according to AirDNA. MORE TRAVELERS ON A BUDGETU.S. travel companies have taken notice, beefing up economy-level options to draw in growing numbers of cost-conscious travelers. Hotel operator Hilton (HLT.N) in January announced a new economy hotel brand, Spark, aimed at budget travelers and told investors in April it was working on a lower-end extended stay brand.

☆ This company could take lab-grown meat mainstream thanks to a green light from the FDA
▼ + stars: | 2023-05-19 | by ( Natasha Piñon | ) www.cnbc.com time to read: +14 min

Upside Foods' pivotal moment also comes at a key moment in the alternative meat industry. The cultivated-meat industry could have a wider consumer base than previously introduced alternative meat products, because unlike plant-based meats, it's "real" meat — minus the slaughtered animals. And, accordingly, some traditional meat companies have expressed interest in the burgeoning cultivated-meat industry, which one day could become a competitor. The cultivated-meat industry will need a similar boost if it's ever going to become a grocery store staple, Swartz said. The FDA's clearance was a voluntary premarket consultation, which means the agency has no further questions about the safety of Upside's products.

☆ US banks rethink social media as a threat, not a marketing tool
▼ + stars: | 2023-05-18 | by ( Nupur Anand | ) www.reuters.com time to read: +5 min

Greg Becker, the former CEO of Silicon Valley Bank, blamed social media as an "unprecedented" factor in the lender's demise. The former CEO of First Republic Bank, Michael Roffler, also blamed social media for its collapse two months later. Bank executives and directors have ordered their companies to add social media into risk-management programs, according to regional bank executives who declined to be identified because the discussions are private. "NIP IT IN THE BUD"Banks are also contacting customers who complain on social media to address their issues quickly. The Financial Stability Board, an international body, is also investigating the role of social media in recent market turmoil, a source said.

☆ Target expects to take a $500 million hit this year due to missing inventory, and says shoplifting and organized crime is largely to blame
▼ + stars: | 2023-05-17 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Target says it expects to take a $500 million hit in profits this year because of missing inventory. It said that this is largely due to theft and organized crime. Inventory shrink refers to when the company has fewer products on its shelves than what is reported in its inventory. Last November, the company said that missing inventory had cost it $400 million in profits so far that year and that this number could reach $600 million by year-end. According to research from the National Retail Federation, retail shrink cost retailers $94.5 billion in 2021, up from $90.8 billion in 2020.

NEW YORK, May 15 (Reuters) - At least seven top Barclays Plc (BARC.L) bankers have resigned to join to UBS Group AG (UBSG.S) in the United States in the last few days, people familiar with the matter said. The moves add to a trio of Barclays investment bankers that UBS announced internally it hired last month. Many Credit Suisse bankers are based in the United States. UBS has hired Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer and Ken Tittle from Barclays, the sources said. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April.

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A. Williams, Meyer and Tittle were managing directors in the investment banking group.

☆ Pandemic-related asylum restrictions known as Title 42 expire, straining U.S. immigration system
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +10 min

The expired rule, known as Title 42, was in place since March 2020. While Title 42 prevented many from seeking asylum, it carried no legal consequences, encouraging repeat attempts. Migrants cross the Rio Bravo river to turn themselves in to U.S. Border Patrol agents before Title 42 ends, in Matamoros, Mexico May 10, 2023. Homeland Security Secretary Alejandro Mayorkas had already warned of more crowded Border Patrol facilities to come. They were quickly apprehended by Border Patrol agents.

☆ Rep. Nancy Mace says people want to see her Jell-O wrestle with Marjorie Taylor Greene
▼ + stars: | 2023-05-09 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Reps. Nancy Mace and Marjorie Taylor Greene have a history of publicly beefing with each other. Mace reportedly joked to a colleague that people only want to see the two "wrestling in Jell-O." download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyRep. Nancy Mace of South Carolina once joked to a colleague that people want to see her Jell-O wrestle with fellow Republican Rep. Marjorie Taylor Greene of Georgia. In 2021, Mace went as far as to call Greene "batshit crazy" in a series of emojis after Greene referred to her as "trash." "The only thing people want to see of me and Marjorie is if we're wrestling in Jell-O."

☆ Moderna posts surprise quarterly profit despite waning demand for Covid vaccines
▼ + stars: | 2023-05-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna on Thursday blew past estimates for first-quarter earnings and revenue, posting a surprise quarterly profit, despite lower demand for Covid vaccines, its only marketable product. The biotech company generated first-quarter sales of $1.9 billion, driven by Covid shot revenue deferred from 2022. Moderna maintained its full-year guidance of around $5 billion in revenue from its Covid vaccine, which will come from signed government contracts for the shot. But Covid shot demand is still falling as the pandemic eases and the U.S. shifts to an annual vaccination schedule rather than repeated booster doses. Moderna in April said it hopes to offer a new set of life-saving vaccines targeting cancer, heart disease and other conditions by 2030.

☆ Meet 12 Walmart execs steering its $2.7 billion ad business as it races to catch up to Amazon
▼ + stars: | 2023-05-03 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +1 min

Walmart is the second-largest retail advertising player, behind Amazon. The retailer is investing in talent, tech, and partnerships to grow its $2.7 billion ad business. Insider identified 12 execs in charge of growing Walmart's ad business. In 2022, Walmart's ad business, Walmart Connect, was $2.7 billion — up 30% year-over-year — making it the second-biggest e-commerce ad seller. Most of that market is currently owned by Amazon's $37.7 billion ad business.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders on Tuesday will debate ways to beef up regional safeguards to better address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting of ASEAN+3 nations with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances usage of existing currency swap lines, and allows members to tap funds in times of emergencies such as pandemics and natural disasters, said three sources with direct knowledge of the matter. But the swap lines have never been used, including during the COVID-19 pandemic, giving rise to calls from within the group to make the system more easily accessible in the event of shock events. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

☆ Don't let the patriotic talk fool you. Here are 5 ways JPMorgan stands to win from buying First Republic Bank.
▼ + stars: | 2023-05-01 | by ( Emmalyse Brownstein | Carter Johnson | ) www.businessinsider.com time to read: +8 min

JPMorgan on Monday morning emerged as the white-knight buyer of First Republic Bank. More wealth advisors for high-net-worth clientsJPMorgan's wealth management ambitions will also get a boost from its purchase of First Republic. The smaller bank has about 150 high-end advisors who will join JPMorgan's brokerage business unit, JPMorgan Advisors. "If they can retain the wealth advisors and not lose too many more, I think it will be very advantageous. "This helps bring the bank crisis phase to the home stretch in our view," wrote Wells Fargo's Mayo.

☆ Hertz results beat estimates on strong rental car demand
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - Hertz Global Holdings Inc (HTZ.O) on Thursday beat analyst estimates for quarterly results as more people rented cars to commute to office and travel outstation, sending the company's shares up nearly 4% before the bell. Demand for rentals remains strong as more companies mandate work from office and people resume their travel plans after a long pandemic-induced hiatus. "Hertz reported better-than-expected results as they continue to benefit from strong consumer demand for travel and the ongoing recovery in business travel," said Tigress Financial Partners analyst Ivan Feinseth. The company posted an adjusted quarterly net income of 39 cents per share for the quarter ended March 31, compared with Refinitiv IBES estimates of 21 cents. It, however, struggled with costlier maintenance and labor charges to keep its fleet on the road.

☆ Inside the AI talent wars: Tech companies are ransacking university AI programs at Stanford, MIT, and Cornell in search of engineers
▼ + stars: | 2023-04-24 | by ( Stephanie Palazzolo | Melia Russell | ) www.businessinsider.com time to read: +11 min

Driven by the recent AI boom, companies are raiding top college campuses for rare technical talent. She's currently on leave from her Stanford AI Ph.D. program to focus on Moonhub. In 2011, new AI Ph.D. graduates took jobs in the tech industry and academia in about equal measure. But since then, the majority of new grads have headed to the AI industry, with nearly double the percentage of AI Ph.D. grads taking industry jobs versus academic roles in 2021, according to Stanford's Institute for Human-Centered AI's 2023 AI Index Report. "All AI companies have roles for people with Ph.D.s and without," said Attaluri, the soon-to-be researcher at DeepMind.

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