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☆ Everyone is getting paid these days — except investment bankers
▼ + stars: | 2023-06-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's been a tough go for investment bankers recently. As if all that wasn't bad enough for bankers, The Wall Street Journal recently reported that even lawyers are now making more money than them. It turns out the culprit, as is often the case on Wall Street, is inflation. It's getting really tough these days to make the case for getting into investment banking. That begs the question: Why bother getting into investment banking at all?

Persons: Dan DeFrancesco, we've, Klaus Vedfelt, It's, —, Robert Kindler's, Morgan Stanley, Paul Weiss —, hasn't, Seth Rogen, Nick Offerman, Paul Dano, Steve Cohen, Alexandra, Emily Oster, David Solomon, Goldman Sachs, Solomon, Jeffrey Cane, Nathan Rennolds Organizations: GameStop, Street Journal, Sony, Bloomberg, Harvard, JPMorgan, Economist Intelligence, LinkedIn Locations: Republic, Semafor, New York, London

Economists polled by Reuters had forecast that the annual consumer price inflation rate would drop to 8.4% in May, moving further away from October's 41-year high of 11.1%. "May's CPI figures ratchet up the pressure on the Monetary Policy Committee to increase Bank Rate substantially further over the coming months," Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said. Food and drink price inflation dropped slightly to 18.3% from April's 19.0%. The BoE is widely expected to raise interest rates on Thursday to 4.75% from 4.5%. After Wednesday's data, markets fully priced in interest rates reaching 6% by December - up from around a 50% chance of such a move on Tuesday.

Persons: Henry Nicholls, Samuel Tombs, Sterling, BoE, Grant Fitzner, . Paul Dales, Rishi Sunak, Jeremy Hunt, Andrew Heavens Organizations: Bank of England, REUTERS, Bank of, Reuters, Monetary, Committee, Pantheon, U.S ., National Statistics, ., Capital Economics, Bank, Fed, ECB, Thomson Locations: City, London, Britain, Bank of England

☆ 'The Flash,' 'Elemental' disappoint as 'Spider-Verse' continues box office domination
▼ + stars: | 2023-06-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

The mixed results saw disappointing debuts from "The Flash" and "Elemental," while "Spider-Man: Across the Spider-Verse" continued to attract ticket buyers. It also fell short of the $67 million debut of fellow DC film "Black Adam" last October. "Audiences have shown in recent months and post-'Endgame' years that they are being more selective about which comic book films are going to earn their box office dollars," he said. Estimates peg the film's debut at $29.5 million, just higher than the $29.1 million "Toy Story," Pixar's first-ever theatrical release, which opened in 1995. Across Friday, Saturday and Sunday of the Father's Day weekend, the domestic box office is expected to tally just under $175 million in receipts.

Persons: Adam, Shawn Robbins, Robbins, Ezra Miller, Mario, Paul Dergarabedian Organizations: Warner Bros, BoxOffice.com, DC, Pixar, DreamWorks, Mario Bros, Comscore, Guardians, Galaxy, Comcast, CNBC Locations: NBCUniversal

☆ Perryton, Texas tornado: 3 people dead and dozens injured after tornado ripped through a town in the Texas Panhandle
▼ + stars: | 2023-06-16 | by ( Aya Elamroussi Dave Alsup Melissa Alonso | Aya Elamroussi | Dave Alsup | ) edition.cnn.com time to read: +4 min

CNN —At least three people were killed and dozens were hospitalized after a tornado ripped through a town in the Texas Panhandle on Thursday afternoon, nearly leveling some buildings and prompting power outages. A view of a damaged site in Perryton as the town gets struck by a tornado in Texas on Thursday in this screengrab obtained from a social media video. Greg Abbott has deployed state emergency resources to “meet urgent life-safety needs in Perryton, Texas,” according to a news release from his office. Sabrina Devers/TMX/ReutersOfficials in Beaver County, Oklahoma, sent fire, law enforcement and EMS units to help, according to the county’s emergency manager Keith Shadden. The sheriff’s office in Hutchinson County — which includes Stinnett — also sent rescue and emergency operations following the “devastating tornado,” according to a Facebook post from the office.

Persons: Paul Dutcher, CNN’s Alisyn, Kelly Judice, ” Judice, Sabrina Devers, ”, Wes Reeves, Greg Abbott, Keith Shadden, —, Judice, “, Brian Emfinger, Emfinger, ” Emfinger, Cole Underwood, there’s, Ronny Jackson Organizations: CNN, Texas Panhandle, Xcel Energy, Texas Gov, Reuters, National Weather Service, NWS Locations: Texas, Perryton, Perryton , Texas, Beaver County , Oklahoma, Stinnett , Texas, Hutchinson County, Oklahoma, Michigan

☆ Tornadoes Kill at Least 4 Across the South
▼ + stars: | 2023-06-16 | by ( Livia Albeck-Ripka | Mike Ives | ) www.nytimes.com time to read: +1 min

States across the South were assessing storm damage on Friday after a series of tornadoes swept across the region, leaving at least four people dead, including three in Texas, the authorities said. He told CNN that one person died in the trailer park and two others died downtown, and that one person was missing. About 200 homes and the town firehouse were destroyed, and infrared-equipped drones were surveying the damage, he said. Officials in Perryton, about 115 miles northeast of Amarillo, Texas, could not immediately be reached for comment. The Perryton Fire Department said on Facebook late Thursday that the fire station “took a direct hit,” but that its trucks and ambulances were still operable.

Persons: Paul Dutcher, “ Organizations: Texas Panhandle, NBC News, CNN, Fire, Facebook Locations: Texas, Perryton, Amarillo , Texas

☆ Texas panhandle town hit by tornado, deaths reported
▼ + stars: | 2023-06-16 | by ( Brad Brooks | ) www.reuters.com time to read: +2 min

[1/4] A tank truck gets partially submerge in water in Perryton as the town gets struck by a tornado, in Texas, U.S. June 15, 2023, in this screengrab obtained from a social media video. ABC's Amarillo affiliate KVII-TV, citing Perryton fire chief Paul Dutcher, reported that at least three people were killed. At least 30 trailer homes were damaged or destroyed in Perryton, KVII-TV reported, and firefighters were still rescuing victims at 6 p.m. It said the town may have been struck by three tornadoes. I am in contact with Mayor Symons and this tragedy is being closely monitored by myself and my whole staff," U.S. Representative Ronny Jackson, a Republican from Texas, said on Twitter.

Persons: Sabrina Devers, Kerry Symons, Paul Dutcher, Debbie Beck, Beck, Jane, Mayor Symons, Ronny Jackson, Greg Abbott, Brad Brooks, Dan Whitcomb, Costas Pitas, Stephen Coates, Simon Cameron, Moore, William Mallard Organizations: REUTERS, U.S, Republican, Twitter . Texas, Thomson Locations: Perryton, Texas, U.S, TMX, REUTERS LUBBOCK , Texas, Amarillo, Oklahoma

☆ UK homeowners brace for more mortgage pain as borrowing costs shoot up
▼ + stars: | 2023-06-14 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Existing and aspiring UK homeowners are bracing for a fresh wave of misery as a rise in benchmark borrowing costs threatens to push up monthly mortgage payments. The yield on the country’s two-year government bonds — which is used to set interest rates on mortgages — jumped to 4.87% on Tuesday. The figures have pointed to persistent inflationary pressures, increasing the chances of more interest rate hikes by the Bank of England and driving up gilt yields. “We’ve had to reflect that in our mortgage rates,” the spokesperson said. “[UK inflation] is a chronic problem, and it’s not something that you can deal with quickly.”

Persons: Liz Truss, Craig, Samuel Tombs, “ We’ve, Paul Dales, “, Truss, Henry Nicholls, ”, Ed Al Organizations: London CNN, Bank of England, Royal London Asset Management, CNN, Pantheon, UK Finance, HSBC, HSBC UK, Capital Economics, Reuters, Columbia Threadneedle Investments Locations: United Kingdom, Europe, United States

☆ The recycling idea at Levi's, Adidas, Zara to stop trillions in fast fashion from going to waste
▼ + stars: | 2023-06-11 | by ( Carolyn Chun | ) www.cnbc.com time to read: +8 min

The multi-trillion dollar fashion industry contributes significant greenhouse gas emissions, between 8% to 10% of total global emissions, according to the United Nations. With the majority of textiles in the fashion industry blended, it is harder to recycle one fiber without harming another. Spinnova partnered with the world's largest pulp and paper company this year, Suzano, to turn wood and waste into recycled textile fiber. Textile waste, by some measures, is a bigger issue than plastics waste, and it has a similar problem. Late last year it worked on a limited collection with fast fashion clothing giant — and consumer consumption flashpoint — Zara, using its recycled textile waste material.

Persons: LEVI, Alexander Donka, Paul Dillinger, Levi Strauss, Spinnova, Chloe Songer, Songer, Victor J, Levi's Levi Strauss, Dillinger, You've, we're, —, Stacy Flynn, Flynn, Levi's, Stella McCartney, — Zara Organizations: McKinsey, United Nations, McKinsey Sustainability, Co, Shoppers, Blue, Bloomberg, Getty, Adidas, CNBC Locations: Sweden, Africa, Zara, New York

CNN —At least 10 people are feared dead after a late-night bus crash in the Australian state of New South Wales on Sunday, local police say. Emergency crews responded just before midnight to reports about a bus rolling over at a roundabout near the town of Greta, which is located in the wine growing Hunter region, New South Wales Police Force said in a statement. “The driver of the bus – a 58-year-old man – was taken to hospital under police guard for mandatory testing and assessment,” they said. “All Australians waking up to tragic news from the Hunter send our deepest sympathies to the loved ones of those killed in this horrific bus tragedy. Australia’s local station Channel 9 reported the bus was transporting wedding guests back home when the crash happened.

Persons: –, ”, Anthony Albanese, Hunter, ” Albanese Organizations: CNN, New South Wales Police Force, Authorities, Police, Australian, Channel Locations: Australian, New South Wales, Greta, Hunter, New, Sydney

☆ UK predicted to have the highest inflation rate out of all advanced economies this year
▼ + stars: | 2023-06-07 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. The U.K. headline inflation is "projected to slow on the back of declining energy prices and to come down close to target by the end of 2024," the OECD noted. "Core inflation is set to be more persistent due to strong services inflation, only receding to 3.2% in 2024." The U.K. is set to report a headline inflation of 6.9% this year, above the OECD average of 6.6% for 2023. Sanctions-struck Russia is forecast to have a headline inflation of just under 5.4% in 2023.

Persons: Andrew Bailey, Governor Bailey, BoE, Paul Dales Organizations: OECD, LONDON, Organization for Economic Cooperation, Bank of England, Capital Economics Locations: Sheffield, Argentina, Turkey, Russia, Paris, Paul

☆ Markets pricing out rate cuts for this year is the right move, says RegentAtlantic's Andy Kapyrin
▼ + stars: | 2023-06-07 | 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 EmailMarkets pricing out rate cuts for this year is the right move, says RegentAtlantic's Andy KapyrinPaul Donovan, chief economist at UBS Global Wealth Management, and AAndy Kapyrin, CI RegentAtlantic Private Wealth co-CIO, join 'The Exchange' to discuss the Fed's next policy move, signs of moderating inflation, and companies pushing off costs on to consumers.

Persons: Andy Kapyrin Paul Donovan, AAndy Organizations: UBS Global Wealth Management, Wealth

Hong Kong/Seoul CNN —“The Little Mermaid” has bombed with moviegoers in China and South Korea amid racist critiques in some quarters over the casting of Black actress Halle Bailey as main character Ariel. Disney’s live-action remake has made only $3.6 million in mainland China since opening there on May 26, according to Box Office Mojo. In South Korea, “The Little Mermaid” has grossed $4.4 million since May 24. Halle Bailey in 'The Little Mermaid.' Ariel and Prince Eric in a scene from 'The Little Mermaid.'

Persons: Halle Bailey, Ariel, Disney’s, Bailey, “, ”, Rob Marshall, ‘ Let’s, ’, Fans, Prince Eric, Maleficent ’, Paul Dergarabedian Organizations: Seoul CNN —, Office, Korean Film Council, Global Times, Disney, Hollywood, Halle, United, Comscore Locations: Hong Kong, Seoul, China, South Korea, United States, Comscore, ”, Japan, Philippines, Indonesia, Italy, Germany, United Kingdom, Australia, Brazil, Mexico, Singapore, Finland, United Arab Emirates

☆ 'Spider-Man: Across the Spider-Verse' opens to $120.5 million, second-highest debut of 2023
▼ + stars: | 2023-06-04 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

Spider-Man returned to the big screen this weekend, webbing up an estimated $120.5 million at the domestic box office. Sony's "Spider-Man: Across the Spider-Verse," the much anticipated sequel to the Academy Award-winning "Spider-Man: Into the Spider-Verse," had the second-biggest opening of 2023, just behind Universal's "Super Mario Bros. The film also marks the third-best opening weekend for any Spider-Man film, animated or live-action. The film has secured $186.2 million in domestic ticket sales and stands at $326.7 million globally. Additionally, Disney's "The Boogey Man" opened to $12 million in domestic ticket sales and Universal's "Fast X" added $9.24 million in ticket sales over the weekend, bringing its domestic haul to $128.4 million.

Persons: Universal's, Mario, Paul Dergarabedian, Shawn Robbins, Robbins Organizations: Academy, Mario Bros, BoxOffice.com, Disney, Guardians, Galaxy, Comcast, CNBC Locations: EntTelligence, NBCUniversal

☆ Greg Fleming's Rockefeller strategic-advisory team defies dealmaking drought thanks to this rich family
▼ + stars: | 2023-05-31 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

The wealth manager's CEO Greg Fleming has deep ties to the Desmarais family behind the insurer. In the midst of a dealmaking lull, Rockefeller Capital Management can add another billion-dollar advisory deal to its resume. Advised by the five-year-old firm, Canadian insurer Great-West Lifeco is selling asset management subsidiary Putnam Investments to Franklin Templeton, the firms announced today. Since Fleming launched Rockefeller, born out of the Standard Oil heirs' family office, Great-West Lifeco has consistently sought the firm's services. The Rockefeller family also increased its stake by an undisclosed amount.

Persons: Rockefeller, Franklin Templeton, Greg Fleming, Lifeco, Morgan Stanley, Merrill Lynch, Jim Ratigan, Stephen Valentino, Fleming, Paul Desmarais Jr Organizations: Rockefeller Capital Management, Putnam Investments, Pitchbook, Wall Street, Deutsche Bank . Rockefeller, Standard, Rockefeller, Power Corporation of Canada, Viking Global, Bank of America

☆ Wes Anderson, Ken Loach among contenders for Cannes Film Festival's top prize
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] The 76th Cannes Film Festival - Press conference for the film "Asteroid City" in competition - Cannes, France, May 24, 2023. Director Wes Anderson speaks. REUTERS/Yara NardiCANNES, May 27 (Reuters) - Veteran directors Wes Anderson, Ken Loach and Wim Wenders are among those in the running for the Cannes Film Festival's coveted Palme d'Or at Saturday's closing ceremony, with 21 films in competition for the top prize. This year has a record seven female directors in the running for the top prize, which only two women have previously won - Jane Campion in 1993 and Ducournau in 2021. More than 14,000 participants from over 120 countries crowded the film market this year, surpassing 2019's previous peak of 12,500.

☆ Opinion | Applying D.E.I. to Science
▼ + stars: | 2023-05-27 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Let Science Be Science,” by Pamela Paul (column, May 5):Ms. Paul describes how a leading scientific journal declined to publish an opinion article advocating impartiality in science. Her implication is that rejecting a paper equates to rejecting its premise. Top scientific journals are not dissimilar to the Opinion pages of The New York Times in that the competition to appear in them is intense. Misleading readers to score political points with an argument that scientists have exchanged merit and objectivity for progressive ideology is a disservice to science and the public alike. Carl T. BergstromSeattleThe writer is a professor of biology at the University of Washington and had a guest essay published in The Times last year.

☆ UK inflation surprises for all the wrong reasons
▼ + stars: | 2023-05-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Britain’s stubbornly high inflation is a major drag on its economy because it increases the cost of everyday goods and services, dampening consumption. At the same time, interest rate hikes to combat inflation make loans and mortgages more expensive, which further weighs on spending by businesses and consumers. “The indirect impact of energy prices on business costs means lower gas and electricity prices should eventually feed into lower core inflation. But strong wage growth is likely to keep services inflation high throughout this year,” he added. But it cautioned that high inflation is still a considerable risk to the UK economy.

Persons: Grant Fitzner, Britain’s, ” Paul Dales, Martin Beck, ” Organizations: London CNN —, National Statistics, Bank of England, International Monetary Fund, Bank, Capital Economics, IMF, Bank of England’s Locations: United Kingdom

☆ MLB roundup: Surging Cardinals down Dodgers for fourth straight series win
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +12 min

Cardinals starter Jack Flaherty allowed three runs on four hits and four walks with five strikeouts in 4 2/3 innings. Yankees 4, Reds 1Harrison Bader belted a two-run homer and Luis Severino pitched effectively into the fifth inning in his season debut, lifting New York past host Cincinnati. The 2-0 cushion proved enough to send the Phillies to a second straight win after losing five straight. In his fourth appearance, the left-hander went six innings and allowed one run on one hit, one walk and a career-high seven strikeouts. Mariners starter George Kirby (5-3) pitched seven innings and allowed three runs on six hits, one walk and six strikeouts.

☆ What Christian Nationalism Has Done to Wyoming Is a Sin - The New York Times
▼ + stars: | 2023-05-21 | by ( Susan Stubson | ) www.nytimes.com time to read: +2 min

What followed was an uncomfortable master class in racism and xenophobia as the man decanted the reasons our country is going down the tubes. I now understand the ugliness I heard was part of a current of Christian nationalism fomenting beneath the surface. And in large part, it’s my faith community, white, rural and conservative, that got them there. As my faith grew, so did Tim’s political career in the Wyoming Legislature (he served in the House from 2008 to 2017). Christian nationalists have hijacked both my Republican Party and my faith community by blurring the lines between church and government and in the process rebranding our state’s identity.

☆ MLB roundup: Astros score four in ninth, stun Cubs
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +11 min

Jake Meyers ripped a two-run homer that cut the deficit to 6-5, and when pinch hitter Mauricio Dubon followed with a walk, Brandon Hughes (0-2) entered in relief of Thompson. Mark Vientos, recalled earlier in the day from Triple-A Syracuse, hit a game-tying two-run homer in the seventh for the Mets. Cardinals 3, Brewers 0Paul DeJong hit a two-run homer and Nolan Arenado delivered his 1,000th career RBI as St. Louis defeated visiting Milwaukee. Boston tied its season high with 16 hits, including six in a six-run second inning. Justin Turner went 3-for-4 with his second homer in as many games.

☆ The Speaker Gets His Chance to Go Toe-to-Toe With the President
▼ + stars: | 2023-05-17 | by ( Carl Hulse | ) www.nytimes.com time to read: +1 min

After insisting for months that he would never do so, the president appears ready to discuss a potential ransom. Republicans believe that Democrats have not afforded Mr. McCarthy the same standing and respect as his predecessors John A. Boehner and Paul D. Ryan, who had stronger policy chops. At a news conference last week, Mr. McCarthy refused to say he was offended or angered by the president’s regard for him. “If you believe the debt ceiling is as important as I think it is, why would you go silent for 97 days?” Mr. McCarthy asked. Democrats believed that failure by the House Republicans would then set up a scenario where members of both parties would race to increase the debt ceiling without accompanying spending cuts to avert a catastrophic default.

“One thing is that this will be the first year in the history of the Cannes Film Festival when the publicists will have no rumors to tell to each other,” Ostlund said. In Ostlund’s films, which skewer class and social hypocrisies, any character who made a vow like that would wind up doing the opposite. But don’t expect the top prizewinner or any of the other awards to be his choices alone. Damián Szifron, from Argentina, is best known for his comic anthology feature “Wild Tales,” which showed in competition in 2014. And the Moroccan filmmaker Maryam Touzani was here last year with “The Blue Caftan,” which showed in the festival’s Un Certain Regard section.

☆ Cannes jury president to striking Hollywood writers: 'Yeah, go!'
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +2 min

[1/4] The 76th Cannes Film Festival - Press conference of the jury - Cannes, France, May 16, 2023. Jury President Ruben Ostlund and jury member Brie Larson attend a press conference. REUTERS/Yara NardiCANNES, May 16 (Reuters) - Swedish director Ruben Ostlund, who heads the jury awarding the Cannes Film Festival's top award this year, expressed solidarity with striking Hollywood film and TV writers on Tuesday, saying industrial action was the only way to change work conditions. "It's great that people have a strong collegial feeling so you can go out and have a strike. Top executives close to the discussions have told Reuters that the strike could continue into the summer and possibly beyond.

☆ MLB roundup: Mets post 8-run inning, whip Nats in Max Scherzer's return
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +12 min

For seven innings, the game was a pitchers' duel between Cleveland rookie Tanner Bibee and the Angels' Patrick Sandoval. Zach Elfin (5-1) got the win after allowing four runs on seven hits in his six innings, striking out nine and walking one. Royals starter Jordan Lyles (0-7) was tagged for seven runs in 2 1/3 innings, allowing four hits and three walks. The loss overshadowed another strong outing by Giants starter Logan Webb, who allowed one run on three hits over seven innings. Boston's Corey Kluber (2-5) surrendered four runs on seven hits in five innings.

☆ 'Guardians of the Galaxy: Vol. 3' had best second weekend box office hold for MCU in 5 years
▼ + stars: | 2023-05-15 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

In its second week in theaters, the director's "Guardians of the Galaxy: Vol. Most blockbuster films' ticket sales drop between 50% and 70% from the opening weekend to the second week. It is the third-best second week fall of any MCU film since 2008, just behind "Thor," which slipped 47.2% during its second week in 2011. For comparison, the first "Guardians of the Galaxy" film tallied $773.3 million globally during its run in 2014 and "Guardians of the Galaxy: Vol. The strong box office for "Guardians of the Galaxy: Vol.

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