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☆ Richard Riordan, Mayor of an Uneasy Los Angeles, Dies at 92
▼ + stars: | 2023-04-20 | by ( Katie Hafner | ) www.nytimes.com time to read: +1 min

Richard J. Riordan, a Queens-born lawyer, businessman and former mayor of Los Angeles who led the city at a particularly divisive time and brought a free-enterprise approach to rebuilding the city’s infrastructure after a devastating earthquake in 1994, died on Wednesday at his home in the Brentwood section of Los Angeles. Mr. Riordan, whose unfiltered speech occasionally got him into trouble, began his career in business and turned to politics later in life. He was elected mayor in 1993, in his first effort at electoral politics, and served until 2001, prevented by term limits from seeking a third term. A moderate Republican, Mr. Riordan came to politics in 1992, when it became clear that Tom Bradley, the Democratic five-term incumbent mayor, would not seek re-election. Mr. Riordan, then 62, was encouraged by friends to run, in part because of his solid ties across the political spectrum.

☆ United Nations issues rare rebuke of United States over leaked documents
▼ + stars: | 2023-04-18 | by ( Richard Roth | ) edition.cnn.com time to read: +3 min

CNN —Weeks after a trove of classified US intelligence documents were posted on social media, the United Nations issued a rare rebuke of the United States after reports that those documents allegedly revealed the US was spying on the Secretary-General and other high ranking UN officials. The UN also sent a note to the US Mission at the United Nations in New York regarding the leak, according to Dujarric. The stern reaction comes after a BBC report last week on a US intelligence leak which accused Guterres of being too soft on Russia. According to the broadcaster, the documents in the leak also includes detail of a private conversation between Guterres and his deputy Amina Mohammed. The leak appears to shed light on how Washington perceived Guterres’ handling of the Black Sea grain deal, according to the BBC.

☆ Earnings playbook: Netflix and Goldman Sachs headline a big week of reports
▼ + stars: | 2023-04-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +14 min

Tuesday Johnson & Johnson is set to report earnings before the open, followed by a call with management at 8:30 a.m. Goldman Sachs is set to report earnings before the open, followed by a call at 9:30 a.m. What history shows: Bespoke data shows Goldman tops earnings expectations 86% of the time. Netflix is set to report earnings after the bell, followed by a call with management at 6 p.m. Friday Procter & Gamble is set to report earnings before the open, with a conference call also slated for 8:30 a.m.

☆ Green Tax Credits Are Likely to Be More Popular—and Expensive—Than Expected
▼ + stars: | 2023-04-12 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

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☆ Here’s the inflation breakdown for March 2023 — in one chart
▼ + stars: | 2023-04-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

But swings in gasoline and other energy mask price pressures that, while easing, remain under the surface, economists said. "It's improving and the economy is cooling, but it's still far from tepid," Diane Swonk, chief economist at KPMG, said of inflation. What drove inflation in March 2023Housing was a "notable" inflation driver in March and over the past year, according to the BLS. The shelter index increased 8.2% in the last year, accounting for over 60% of the total increase in consumer prices after stripping out the volatile energy and food categories. "It signals the food inflation fever has been broken," Zandi said.

DEI executive Netta Jenkins says women typically overlook their 401(k) match or family care benefits. Jenkins adds that women of color are less likely to trust HR and speak openly about their benefits. Here are three workplace benefits that Jenkins says women often overlook — and how to take advantage of them. Expense reimbursementsJenkins adds that expense reimbursements, like the cost of parking or travel, can cause friction for women in the workplace — especially women of color. Some women of color care for both.

☆ IRS Plan to Spend $80 Billion Includes Real-Time Tax Alerts, Audits of Wealthy People
▼ + stars: | 2023-04-06 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

WASHINGTON—The Internal Revenue Service unveiled its strategic plan Thursday for revamping the agency amid Republican opposition, promising to shift more taxpayer interactions onto digital platforms and add thousands of new enforcement staffers to audit wealthy people and corporations. The plan starts spelling out how the tax agency will use $80 billion Congress provided last year. It outlines a renewed IRS focus on enabling smoother taxpayer engagement with the agency, eventually including real-time alerts of problems with returns and clearer information about the status of refunds or audits.

Pros Check mark icon A check mark. Pros Check mark icon A check mark. Geoff Cudd, Owner of FindTheBestCarPrice.comKareem Saleh, founder and CEO of FairPlay AIRyan Wangman, loans reporter at Personal Finance InsiderHow to Choose the Best Auto Loan for Bad CreditTo pick the best auto loan, take stock of the factors that are most important to you. See our full ratings methodology for auto loans »Auto Loans for Bad Credit Frequently Asked QuestionsCan I get auto financing with a 500 credit score? Our Experts' Advice for Choosing the Best Auto Loan for Bad CreditCan you get an auto loan with bad credit?

☆ New EV Rules Mean Fewer Models Eligible for Tax Credit
▼ + stars: | 2023-03-31 | by ( Yuka Hayashi | Richard Rubin | ) www.wsj.com time to read: 1 min

WASHINGTON—The Biden administration detailed new criteria for an electric-vehicle tax-credit program, a change that officials said they expect will reduce the number of eligible models. The new rules, issued by the Treasury Department Friday, aim to make the U.S. less reliant on batteries and critical minerals shipped from China. For car buyers to claim the full $7,500 tax credit, the batteries must contain set amounts of components made in North America and critical minerals sourced in the U.S. or from certain friendly countries.

Women still earn 18% less than men, but a new report shows a rise in homeownership for single women. Fintech CEOs say that increased advocacy for women's rights contributed to the rise in single women's homeownership. See 30-year mortgage rates right now »Here are the top three states where single women own more homes than men:In Florida , 4.55% more single women than single men own homes, with a total of 854,297 single women homeowners in the state. In Maryland , 4.53% more single women own homes, with a total of 141,740 single women homeowners in the state. In Delaware, 4.5% more single women own homes, with a total of 28,551 single women homeowners in the state.

☆ Credit Suisse Violated Plea Deal in Tax Case, Senate Report Says
▼ + stars: | 2023-03-29 | by ( Richard Rubin | ) www.wsj.com time to read: 1 min

WASHINGTON— Credit Suisse Group AG violated the terms of a 2014 criminal plea agreement in which it promised to stop helping Americans hide assets from the U.S. tax authorities, according to a Senate report released Wednesday. The Senate Finance Committee’s Democratic staff said Credit Suisse failed to report bank transfers tied to what it says may be an ongoing criminal tax conspiracy involving more than $100 million held by a family with dual citizenship in the U.S. and Latin America.

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). Our Experts for the Best Personal Loans With No Origination FeesWe consulted personal loan and financial experts to give their insights into finding the best personal loans with no origination fees. See our full ratings methodology for personal loans »Best personal loans without origination fees LightStream Personal LoanSoFi Personal LoanDiscover Personal LoanWells Fargo Personal LoanPenFed Credit Union Personal LoanUSAA Personal Loan Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Personal Loan With No Origination Fees Frequently Asked QuestionsCan you get a personal loan without an origination fee? How to Choose the Best Personal Loan With No Origination FeesTo select the best personal loan for you, look at the factors that are most important to you.

☆ Premarket stocks: Commercial real estate is in trouble. Why you should be paying attention
▼ + stars: | 2023-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Economists are growing concerned about the $20 trillion commercial real estate (CRE) industry. After decades of thriving growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. Before the Bell spoke with Xander Snyder, senior commercial real estate economist at First American, to find out. Before the Bell: Why should retail investors pay attention to what’s going on in commercial real estate right now? So the health of the market has an impact on the larger economy, even if you’re not interested in commercial real estate for commercial real estate’s sake.

Christopher Willard | Walt Disney Television | Getty ImagesOn the advantage of being an underdog: I grew my business in a man's world. There were no businesses in New York City, especially in real estate, that were owned by women. There weren't any women role models, and the men weren't very forthcoming [with advice]. When I was just starting out, I went to a community business event and none of the men would even talk to me. On why she likes to partner with women in business: Women are more willing to listen [than men], and they're not as cocky they'll be an instant success.

Popular passive income ideas include online courses, as well as renting out property, tools, and equipment to others. Even though the goal is passive income, there may be a bit of active work required at the start. However, many passive income ideas may require a significant upfront investment of time and labor to generate profits later. See Insider's picks for the best budgeting apps >>With the hundreds of possible passive income streams available, which ones are the best for 2023? Bonds and bond fundsInvesting with bonds or bond funds can be another way of generating passive income.

☆ Small Businesses Face Big Tax Bills From Research-Deduction Change
▼ + stars: | 2023-03-17 | by ( Richard Rubin | Photographs Christopher Capozziello For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Laura Lynn Gonzalez expected a tax refund this year, after her two-employee data-visualization company experienced a $30,000 loss. Instead, she said, she is facing a $100,000 federal tax bill that is about as large as her 2022 salary. Ms. Gonzalez’s predicament stems from a piece of the 2017 tax law that is taking effect now. It requires companies to spread deductions for research costs over five years instead of taking them immediately.

Financial planner Nicole Morong says buying a house isn't the best decision for six types of people. But financial planner Nicole Morong at Peterkin Financial says buying a house isn't the best financial move for everyone, and most people who feel pressured to do so can't actually afford it. See Insider's picks for the best mortgage lenders for first-time buyers >>"Affordability is more than whether or not you can pay the monthly mortgage," Morong says. If you do, Morong says you're probably better off renting than owning a home. You don't have an emergency savings fundAn emergency savings fund is three to six months worth of living expenses, typically kept in a high-yield savings account so that it's easily accessible in case of an emergency.

While Joe Bogumill was in college, he received a monthly GI Bill educational stipend of $2,232 per month. Bogumill decided to take a yearlong break from school, which meant that roughly a third of the couple's monthly income would be cut. The couple shares one car and uses public transit"I think a lot of people have this desire to look at little things they can cut," Weir says. The couple audited all of their monthly subscriptionsAfter cutting costs in the "big three" categories, Weir and Bogumill audited their monthly subscriptions. Splitting costs with their community helps Weir and Bogumill cut costs on subscriptions altogether.

"We have not raised capital and we are not in the market at this point for M&A transactions," Walt Bettinger, CEO of Charles Schwab, told Reuters in an interview. The firm saw an influx of $4 billion in assets to the parent company on Friday as clients moved assets to Schwab from other firms, Bettinger said. Schwab's shares closed up 9.2% at $56.68 on Tuesday, along with a broad rise in bank shares. Schwab shares, however, are down 25.6% from their close last Wednesday, the day before many bank shares began a downward spiral in reaction to problems at Silicon Valley Bank (SIVB.O). The bank has "access to significant liquidity" including an estimated $100 billion of cash flow from cash on hand, portfolio-related cash flows, plus new assets.

☆ Alphabet-backed Anthropic releases OpenAI competitor named Claude
▼ + stars: | 2023-03-14 | by ( Stephen Nellis | ) www.reuters.com time to read: +3 min

March 14 (Reuters) - Anthropic, an artificial intelligence company backed by Alphabet Inc (GOOGL.O), on Tuesday released a large language model that competes directly with offerings from Microsoft Corp-backed (MSFT.O) OpenAI, the creator of ChatGPT. Large language models are algorithms that are taught to generate text by feeding them human-written training text. Anthropic has taken a different approach, giving Claude a set of principles at the time the model is "trained" with vast amounts of text data. Rather than trying to avoid potentially dangerous topics, Claude is designed to explain its objections, based on its principles. That's one of the reasons we liked Anthropic," Richard Robinson, chief executive of Robin AI, a London-based startup that uses AI to analyze legal contracts that Anthropic granted early access to Claude, told Reuters in an interview.

☆ Charles Schwab shares drop 8%, but rally off lows as firm defends financial position
▼ + stars: | 2023-03-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Westlake, Texas-based financial company last fell about 8% after dropping as much as 23.3% earlier. Charles Schwab shares cut steep losses on Monday as the financial institution defended its portfolio, easing fears of a banking crisis in the aftermath of tech-focused Silicon Valley Bank 's and crypto-related Signature Bank 's collapses. Schwab was taking hits along with other financial firms with massive bond holdings of longer maturities. The fear is that these firms, like Silicon Valley Bank, would need to sell these holdings early at large losses in order to cover deposit withdrawals. But Schwab in its update sought to reiterate that it has plenty of access to liquidity and a low loan-to-deposit ratio.

☆ 'Flamin' Hot' producer DeVon Franklin reveals why he tapped Eva Longoria to direct the film and why he's unfazed by questions over whether it's true to the origins of the fiery Cheetos flavor
▼ + stars: | 2023-03-13 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

The movie "Flamin' Hot" celebrates Mexican heritage and the invention of Flamin' Hot Cheetos. Impressed with the unlikely entrepreneur, Enrico gave it a try — and thus, Flamin' Hot Cheetos were born, and Montañez's career took off. "Flamin' Hot" stars actor Jesse Garcia as Richard Montañez. Eva Longoria directed the new film "Flamin' Hot." The LA Times article, amongst journalists and amongst this small group of people, may get some traction.

☆ Dick Rosenberg Seized the Moment of the Megabank
▼ + stars: | 2023-03-12 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

Richard Rosenberg, in 1989, ‘was always on the move, even when he was sitting.’The banking industry was a collection of regional fiefs when Richard Rosenberg took the helm of BankAmerica Corp. in 1990. By the time he left, his company was on course to become a nationwide force. Regulatory changes were allowing banks to stretch their branch networks across the country for the first time. So Mr. Rosenberg took the bank on an acquisition spree, including a $4 billion-plus purchase that was the largest-ever bank merger at the time.

☆ Analysts see a buying opportunity in this financial stock in particular amid SVB-fueled sell-off
▼ + stars: | 2023-03-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Financial services stocks took a spill as SVB Financial Group's distress cued a sell-off in banks, but investors should use the decline to snap up shares of Charles Schwab on the cheap. Charles Schwab shares dipped more than 7% on Friday morning, following a nearly 13% decline during Thursday's trading session. SCHW 5D mountain Significant decline in Charles Schwab shares following SVB Financial's announcement The significant drop in financial services stocks has been fueled by a massive sell-off of tech-focused bank SVB Financial's shares. However, several analysts believe that such fears are overblown and remain bullish on Charles Schwab, saying that the current decline presents a promising entry point into Schwab's shares. UBS has a buy rating on Charles Schwab shares.

☆ With 'Flamin' Hot' movie set to premiere at SXSW, its producer tackles claims about the central character's role in creating the spicy Cheetos flavor and reveals how Eva Longoria won the director job
▼ + stars: | 2023-03-10 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

The movie "Flamin' Hot" celebrates Mexican heritage and the invention of Flamin' Hot Cheetos. An LA Times report raised doubt about the role of the film's protagonist, Richard Montañez, in creating the flavor. Impressed with the unlikely entrepreneur, Enrico gave it a try — and thus, Flamin' Hot Cheetos were born, and Montañez's career took off. Eva Longoria directed the new film "Flamin' Hot." The LA Times article, amongst journalists and amongst this small group of people, may get some traction.

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