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☆ Oscar-nominated 'Rocky' actor Burt Young dead at 83
▼ + stars: | 2023-10-19 | by ( Steve Gorman | ) www.reuters.com time to read: +2 min

[1/2] Cast member Burt Young waves at the world premiere of 'Rocky Balboa' at the Chinese theater in Hollywood, California December 13, 2006. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsLOS ANGELES, Oct 18 (Reuters) - Veteran character actor Burt Young, best known and Oscar nominated for his role as the brother-in-law and meat-cutting friend to Sylvester Stallone's prize-fighting protagonist in the "Rocky" films has died at age 83, his manager said on Wednesday. The role of Paulie, who was also the brother of Rocky's painfully shy love interest and soon-to-be wife, Adrian (she marries Balboa in "Rocky II"), earned Young an Academy Award nomination for best supporting actor. Young reprised the Paulie role in all six of the original "Rocky" sequels. In later years, Young made a name as painter, whose works were displayed in galleries around the world.

Persons: Burt Young, Rocky Balboa, Mario Anzuoni, Oscar, Sylvester Stallone's, Anne Morea Steingieser, Lynda Bensky, Gerald Tommaso DeLouise, Lee, Paulie Pennino, Paulie, Rocky's, Adrian, Balboa, Young, Pope, Steve Gorman Organizations: REUTERS, New York Times, Reuters, U.S . Marine Corps, Lee Strasberg's, Young, Greenwich, Rockford, Los Angeles Our, Thomson Locations: Hollywood , California, Los Angeles, New York City's Queens, Philadelphia, America

☆ Sanofi to offer insulin product for $35 to all Americans through GoodRx
▼ + stars: | 2023-10-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Sanofi Lantus brand insulin pens are arranged for a photograph in the Brooklyn borough of New York, U.S., on Friday, April 5, 2019. Americans, regardless of their insurance status, can now access Sanofi 's most widely prescribed insulin for $35 through the prescription drug savings company GoodRx , the companies announced Thursday. But some patients have struggled to access the $35 price point, even with that program in place. President Joe Biden's Inflation Reduction Act also capped monthly insulin costs for Medicare beneficiaries at $35, but it did not provide protection to diabetes patients who have private insurance. Approximately 8.4 million diabetes patients rely on insulin, the American Diabetes Association said.

Persons: Sanofi, Eli Lilly, Joe Biden's Organizations: Sanofi, CVS, Walgreens, Walmart, Sanofi –, Novo Nordisk –, U.S, Pharma, Life Sciences, Centers for Disease Control, American Diabetes Association Locations: Brooklyn, New York, U.S

☆ Burt Young, ‘Rocky’ actor, has died at 83
▼ + stars: | 2023-10-19 | by ( Lisa Respers France | ) edition.cnn.com time to read: +3 min

CNN —Burt Young, a former boxer who found fame playing tough guys in Hollywood, died earlier this month, his daughter Anne Morea Steingieser told the New York Times. Young was best known for his role as Rocky Balboa’s brother-in-law Paulie in the “Rocky” movie franchise. Sylvester Stallone, who starred as Rocky, paid tribute to Young on Wednesday. “I was on the MGM lot when Sly Stallone came over and introduced himself to me, told me he wrote ‘Rocky’ and said ‘you gotta do it,’” Young recalled. He has a real eyeball for what’s going on in the world.”It helped establish Young as an actor who could play the heavy, but also be complex.

Persons: CNN — Burt Young, Anne Morea Steingieser, Young, Rocky Balboa’s, Paulie, Sylvester Stallone, Rocky, “, BURT, ” Stallone, Queens , Young, Cus D’Amato, she’d, Lee Strasberg, couldn’t, ”, ” Young, Strasberg, Rocky ”, didn’t, Sly Stallone, Rocky ’, ‘, ’ ” Young, “ Stallone, Robert De Niro, Ralph Macchio, Teddy Bear, Bobby Bacala, Kevin Organizations: CNN, New York Times, New, Marines, Times, MGM, Young Locations: Hollywood, New York City, Queens ,, Corona, ”, “ Cuba

☆ $2 Million Homes in Pennsylvania, Montana and California
▼ + stars: | 2023-10-18 | by ( Angela Serratore | ) www.nytimes.com time to read: +1 min

It is close to several museums, including Bucks County Civil War Museum and Library; Michener Art Museum, which has a sculpture garden; and Mercer Museum, which has a large collection of early American tools and vehicles. A SEPTA station is less than a mile away; from there, trains make the trip to Center City Philadelphia in about an hour and a half. Size: 3,908 square feetPrice per square foot: $512Indoors: A wrought-iron fence lined with neat hedges separates this property from the street. To the right is a family room with a fireplace that has a marble mantel. To the left is a living room connected to a dining room by a wide, column-flanked doorway.

Organizations: Bucks, Civil, Museum and Library, Michener Art Museum, Mercer Museum, SEPTA, Center City Philadelphia Locations: Doylestown, Pa, Hope, Trenton, N.J

☆ I have messed up a lot in job interviews—here's how to avoid my worst mistakes
▼ + stars: | 2023-10-18 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

The job interview is nerve wracking — but there are plenty of ways to prepare to help you feel confident. I myself have messed up during job interviews and while I can't be sure to what extent these mess-ups had an impact, I didn't ultimately get offers for any of the jobs. Here are three mistakes I made in job interviews and why experts say you should avoid them. When you're doing a job interview, "your interviewer is asking themselves, can you do your job?" When you're going in for a job interview, use the job description, your experience of like work and any informational interviews to get a sense of the tasks you could be doing.

Persons: you'll, didn't, Octavia Goredema, who'd, Gorick Ng Organizations: Harvard Locations: Manhattan

It has since emerged that the attacker had been ordered to leave Belgium in 2021. Bernard Clerfayt, a Brussels minister who is also the mayor of the Brussels borough where the killings took place, called for de Moor's resignation. Official figures showed that only 5,497 of the 25,292 people who received an order to leave Belgium in 2022 have respected it. Despite the attack, Belgium is one of the better performers when it comes to deportation. Theo Francken, a lawmaker from the right-wing Flemish nationalist party N-VA, said Belgian authorities should be stricter with criminals and radicalized individuals.

Persons: —, Ulf Kristersson, Alexander De Croo, De Croo, ”, “, ” De Croo, Kristersson, Vincent Van Quickenborne, Nicole de Moor, Frédéric Van Leeuw, Bernard Clerfayt, de Moor's, ” Van Leeuw, didn’t, Jesper Tengroth, Samira, Theo Francken, ” Nils Duquet, It’s, Raf Casert Organizations: Sweden’s, Belgian, ”, Authorities, Premiere, Swedish Migration Agency, European Union, Flemish, Flemish Peace Institute Locations: BRUSSELS, Swedish, Brussels, Belgium, Belgian, Sweden, Nigerian, Africa

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Oct 17 (Reuters) - Bank of America (BAC.N) reported unrealized losses of $131.6 billion on securities held until maturity in the third quarter, growing from nearly $106 billion in paper losses in the second quarter. Unrealized losses have come under closer scrutiny by investors since March. "All of these are unrealized losses are on government- guaranteed securities," Bank of America's chief financial officer, Alastair Borthwick, told reporters on conference call discussing third-quarter earnings. JPMorgan Chase (JPM.N) had unrealized losses of $40 billion in its HTM portfolio in the third quarter. If banks have intention to hold debt securities until maturity they keep them in held to maturity portfolio.

Persons: Carlo Allegri, Alastair Borthwick, JPMorgan Chase, Saeed Azhar, Nupur Anand, Tatiana Bautzer, Manya Saini, Lananh Nguyen, Megan Davies Organizations: of America, REUTERS, Bank of America, U.S, Silicon Valley Bank, Bank of, JPMorgan, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon, Banks

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. BofA's investment banking and trading units managed to outperform Wall Street expectations as they reported higher revenue, bucking an industry-wide slump. Total investment banking fees rose 2% to $1.2 billion, while sales and trading revenue was up 8% to $4.4 billion in the third quarter. BofA's net interest income (NII) rose 4% in the third quarter to $14.4 billion. BofA's revenue, net of interest expense, increased 3% in the quarter to $25.2 billion.

Persons: Carlo Allegri, Brian Moynihan, BofA, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: of America, REUTERS, Bank of America, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. Revenue at BofA's consumer banking unit rose 6% to $10.5 billion in the third quarter. BofA's investment banking and trading units outperformed. Total investment banking fees rose 2% to $1.2 billion, bucking an industry-wide slump. Sales and trading revenue was up 8% to $4.4 billion in the third quarter to its highest in more than a decade.

Persons: Carlo Allegri, Brian Moynihan, BofA, Alastair Borthwick, Borthwick, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva Organizations: of America, REUTERS, Bank of America, U.S, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson Locations: Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York

[1/8] Police barricade tape is seen at a cordoned-off area after a police operation in Schaerbeek near Brussels, Belgium October 17, 2023. REUTERS/Bart Biesemans Acquire Licensing RightsBRUSSELS, Oct 17 (Reuters) - Belgian police on Tuesday shot and wounded a 45-year-old Tunisian suspected of killing two Swedish football fans in Brussels, Belgian media said. Interior Minister Annelies Verlinden said earlier the wounded man was suspected of being the gunman. The suspected gunman, calling himself Abdesalem Al Guilani, claimed in a video on social media that he was a fighter for Allah. According to a media transcript of the video message recorded by the self-declared perpetrator, he said he had killed Swedes to take revenge in the name of Muslims.

Persons: Bart Biesemans, Annelies Verlinden, Verlinden, Philippe Close, BFM, Alexander De Croo, De Croo, de Croo, Vincent Van Quickenborne, Abdesalem Al Guilani, Philip Blenkinsop, Bart Meijer, Benoit van Overstraeten, Jan Strupczewski, Tassilo Hummel, Zhifan Liu, Ingrid Melander, Gerry Doyle, Christina Fincher, Nick Macfie Organizations: Police, REUTERS, Rights, Belgian, Islamic State, Red Devils soccer, Palestinian, Thomson Locations: Schaerbeek, Brussels, Belgium, Rights BRUSSELS, Belgian, Sweden, Israel

☆ Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman Sachs
▼ + stars: | 2023-10-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsLONDON, Oct 16 (Reuters) - Global hedge funds last week sold food, beverage and tobacco company stocks at the fastest pace in 11 weeks, a Goldman Sachs note said, as these stocks, viewed as a proxy for bonds, could not match the recent surge in U.S. Treasury yields. Short sales outpaced long buys about 4 to 1, said Goldman Sachs. The selling took the form of short bets on companies that sell food, beverage and tobacco products and the exit of long positions in household products and food products. Reporting by Nell Mackenzie, Graphics by Lewis Krauskopf; Editing by Dhara Ranasignhe and Deborah KyvrikosaiosOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Goldman Sachs, Nell Mackenzie, Lewis Krauskopf, Dhara Ranasignhe, Deborah Kyvrikosaios Organizations: New York Stock, REUTERS, Global, Treasury, Reuters, Graphics, Thomson Locations: Manhattan, New York City , New York, U.S

☆ A New Membership Club Bets on Black Business
▼ + stars: | 2023-10-15 | by ( Brian Josephs | ) www.nytimes.com time to read: +1 min

Marva and Myriam Babel spent much of the past few years thinking about the concept of a space, especially how to sustain one in a gentrifying borough. Now that they have a new one, a membership club in Brooklyn called Babel Loft, they have been mulling over how to fill it. equipment atop white marble, could be a work space during the day and a dance spot by night. Another left turn brings visitors back to the entrance facing the main area, as if they had gone through one rotation of a vinyl record, Marva Babel pointed out. “Every place will be intentional, and that’s a work in progress,” Myriam Babel (pronounced “babble”) said after the tour.

Persons: Marva, Myriam Babel, Dick Gregory, Babel, ” Myriam Babel, “ That’s, ” Locations: gentrifying, Brooklyn, Questlove

Citi's net income rose 2% to $3.5 billion from a year ago, while earnings per share remained stable at $1.63. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. Citi's total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. Rivals Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) also reported higher quarterly profit on Friday, boosted by a rise interest payments.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, Federal, ICG, Citi, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

The bank said its recently announced reorganization plan will result in a 15% reduction in functional roles and that the first phase of the plan eliminated 60 net committees. Revenue at Citi's institutional clients group that houses its Wall Street operations rose 12% from a year ago, fueled by a 34% jump in investment banking fees. The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue. At Citi, the total provision for the credit portfolio rose to $17.6 billion from $16.3 billion a year ago. Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses.

Persons: Nick Zieminski, Jane Fraser, Fraser, Rivals Wells, JPMorgan Chase, Manya Saini, Tatiana Bautzer, Lananh Nguyen, Arun Koyyur Organizations: Citibank, REUTERS, LSEG, Citi, Federal, ICG, Rivals, JPMorgan, Thomson Locations: Jackson, Queens, New York City, U.S, Bengaluru, New York

☆ Wall St Week Ahead Investors zero in on health of consumer with retail sales, earnings
▼ + stars: | 2023-10-13 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Retail sales data, due out on Tuesday, may have to walk a tightrope to satisfy investors. A survey on Friday showed U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year. Todd, of Greenwood Capital, is focused on insight from companies about the cumulative effect of "higher inflation and higher rates on the consumer." “The conclusions from the consumer next week, I think, is going to be bad news is good news."

Persons: Carlo Allegri, that’s, Hogan, ”, Walter Todd, Todd, Jack Ablin, Ablin, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock, REUTERS, Procter & Gamble, Netflix, Federal, Riley, ”, Reuters, University of Michigan, Major, Greenwood Capital, Bank of America, America Airlines Group, Treasury, Cresset, Thomson Locations: Manhattan, New York City , New York, U.S, Israel, Major U.S

☆ Wall St bonuses may drop 16% as higher rates threaten businesses - NY Comptroller
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 12 (Reuters) - Wall Street bonuses could fall 16% this year as interest rates possibly staying higher for longer threatens the performance of financial companies, according to New York State Comptroller Thomas DiNapoli. The drop, however, would be less sharp than last year's 26% decline that shrank bonuses to $176,700 on average. While higher-for-longer rates could impede business activity, some experts have predicted the central bank would manage to guide the economy to a soft landing. Reporting by Niket Nishant in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas DiNapoli, DiNapoli, Goldman Sachs, Morgan Stanley, Niket, Vinay Dwivedi Organizations: New York Stock, REUTERS, New York, Federal, Securities, Thomson Locations: Manhattan, New York City , New York, U.S, New York City, Bengaluru

☆ Hedge funds expected to ramp up returns on higher rates - BNP survey
▼ + stars: | 2023-10-11 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsLONDON, Oct 11 (Reuters) - Investors expect hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas [RIC:RIC:BNPPL.UL] investor survey showed on Wednesday. Investors now expect hedge funds to return an average of 9.75% annually within an average of 19 months, up from 6.85%, according to the survey. However, hedge funds themselves think this will take longer, up to 29 months, the survey showed. BNP Paribas said historical evidence shows hedge funds tend to perform well in higher and stable interest rate environments and less so when rates are lower. BNP Capital Introduction Group surveyed 82 hedge fund managers in what it called the "summer" of 2023.

Persons: Carlo Allegri, Michael Oliver Weinberg, “, ”, Weinberg, Nell Mackenzie, Dhara Ranasinghe, Kirsten Donovan Organizations: New York Stock, REUTERS, BNP, RIC, Investors, Group, Thomson Locations: Manhattan, New York City , New York, U.S

☆ This is the No. 1 city attracting young professionals—demand grew nearly 7 times since 2019
▼ + stars: | 2023-10-10 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +3 min

1 place where new college grads are applying for jobs, according to new data from Handshake, the college and recent grad career site. It's a continued pattern from pre-Covid days, but to an even greater extreme: New York City received the most applications from recent grads prior to the pandemic, and it's only gotten more competitive. That's nearly double the share of people willing to move for a job pre-pandemic, when 44% applications were submitted out of state. Want to be smarter and more successful with your money, work & life? Check out: The top 3 cities for new grads: ‘I can afford the house I want and the life I want’

Persons: grads, That's Organizations: New York City, New York Chicago Dallas Los Angeles Atlanta Boston San, New York Chicago Dallas Los Angeles Atlanta Boston San Francisco Austin , Texas Washington D.C, Houston Seattle Denver Philadelphia San, Houston Seattle Denver Philadelphia San Diego Miami New, CNBC Locations: New York City . New York, It's, New, Chicago, New York Chicago Dallas Los Angeles Atlanta Boston San Francisco Austin , Texas Washington, Houston Seattle Denver Philadelphia San Diego, Houston Seattle Denver Philadelphia San Diego Miami New York, Manhattan, U.S, Miami, Atlanta, Philadelphia, Seattle, San Diego, San Francisco

☆ Reaction in NYC: 'Everybody Knows Somebody Who Was Killed or Is Missing'
▼ + stars: | 2023-10-09 | by ( ) www.wsj.com time to read: 1 min

Manhattan Borough President Mark Levine said so many ties bind Israel and New York City—which for decades has had a large Jewish population—that he and many other New Yorkers have been reeling since hearing of the surprise attack by Hamas. “The last two days, we’ve spent calling and messaging to find out if people are alive,” he said. “Everybody knows somebody who was killed or is missing, even if their immediate relations are OK.”

Persons: Mark Levine, “, we’ve, ” Organizations: Manhattan Locations: Israel, New York

☆ Stocks making the biggest moves premarket: Exxon Mobil, Lockheed Martin, Walt Disney and more
▼ + stars: | 2023-10-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. The Wall Street firm said the software stock is at an attractive entry point after its recent pullback. Exxon Mobil , Chevron , Occidental Petroleum — Energy stocks popped as oil prices rallied following the Hamas attack on Israel over the weekend. Blue Owl Capital — Shares of the investment company dropped 2.6% after Oppenheimer downgraded Blue Owl Capital to perform from outperform. Lockheed Martin — The aerospace and defense company saw shares rise about 4.5% in premarket trading following the surprise attack on Israel by Palestinian militant group Hamas over the weekend.

Persons: Walt, Nelson Peltz's, Trian's, Trian, Saket Kalia, Oppenheimer, Bristol Myers, Tesla, Lockheed Martin, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li, Tanaya Macheel, Pia Singh Organizations: Exxon, Walt Disney —, Street Journal, Management, JPMorgan, Spotify Technology, Barclays, Oracle, ISI, Exxon Mobil, Occidental Petroleum — Energy, Chevron, Occidental, Owl, Mirati Therapeutics, Bristol, Bristol Myers Squibb, China Passenger Car Association, Lockheed, Hamas Locations: Brooklyn, New York City, Chevron, Israel, China, Palestinian

☆ Sam Bankman-Fried's fraud trial: How Judge Lewis Kaplan has presided in FTX case
▼ + stars: | 2023-10-09 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

[1/2] U.S. District Judge Lewis Kaplan presides over the fraud trial of Sam Bankman-Fried over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 3, 2023 in this courtroom sketch. Last year, he presided over a civil trial in which the actor Kevin Spacey defeated a sexual abuse claim. When one prospective juror said they did not understand how cryptocurrency works, Kaplan said, "You probably have a lot of company in this courtroom." Several times during the first three days of testimony, Kaplan urged defense lawyers to move more quickly as they asked prosecution witnesses questions he deemed repetitive. Before the trial began, Kaplan issued several key rulings against the defense, including excluding some of their proposed expert witnesses and barring them from making certain arguments at trial.

Persons: District Judge Lewis Kaplan, Sam Bankman, Jane Rosenberg, District Judge Lewis, levity, Kaplan, Fried, Bill Clinton, Donald Trump, Jean Carroll, Kevin Spacey, Tom Brady, David Lisner, Matt Huang, You've, Caroline Ellison's, Luc Cohen, Amy Stevens, Lisa Shumaker Organizations: U.S, District, Federal Court, REUTERS, Harvard Law School, New, Thomson Locations: FTX, New York City, U.S, Manhattan, Staten, New York

☆ Home Sweet Times Square: How New York City can save Midtown Manhattan from the 'urban doom loop'
▼ + stars: | 2023-10-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

And New York City has had success transforming single-use office districts, most notably Lower Manhattan's financial district, into more vibrant mixed-use places. Times Square is one of those, according to Tom Harris, president of the Times Square Alliance, which represents the district's businesses. AdvertisementAdvertisement"I'm not negating it, but certainly the opportunities south of Times Square, to the west of Times Square, are a little bit better for development of the housing stock," he said. The mix of businesses around Times Square has changed in a way that could be appealing to potential residents. Times Square lost 179 businesses during the pandemic, but has since welcomed more than 180 new businesses into the neighborhood, according to the Times Square Alliance.

Persons: —, Eric Adams, Dan Garodnick, Garodnick, Lynne Sagalyn, Sagalyn, Andrew Lichtenstein, Susan Mello, Walker, Dunlop, Mello, Luiz C . Ribeiro, Tom Harris, Harris, aren't, Le Bernardin, haven't —, Gardonick Organizations: Midtown, Service, Garment, Eighth, New York City's Department of City Planning, Columbia University, Getty, Financial, Times Square Alliance, Times, Lambs, —, Taco Bell, Grand Central Madison Locations: Midtown Manhattan, Midtown, Manhattan, America, Manhattan . Old, York City, Lower Manhattan, hasn't, Retail, Long, New York

☆ Analysis: Trend hedge funds come out winners in bond market rout
▼ + stars: | 2023-10-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Yet in one corner of the hedge fund world, there's a sigh of relief. So-called trend following and systematic hedge funds have long positioned for a fall in government bond prices given higher-for-longer inflation. AlphaSimplex is a $7.9 billion trend following hedge fund. While many trend funds, also known as "managed futures" funds, use price data, their trading models might also interpret macro economic factors playing out in markets. Some trend funds shrank their fixed income holdings in response to the March turmoil.

Persons: Carlo Allegri, Kathryn Kaminski, Morningstar, Razvan Remsing, Yao Hua Ooi, Laurent Le Saint, Metori, Aspect's, Nell Mackenzie, Dhara Ranasinghe, Susan Fenton Organizations: New York Stock, REUTERS, Generale, Reuters, Silicon Valley Bank, Treasury, Virtus, AQR Capital Management, Capital Management, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Germany, Boston, Silicon, Europe, China, Paris, EU, Japan

☆ Record chicken prices squeeze US shoppers, benefit Tyson Foods
▼ + stars: | 2023-10-05 | by ( Tom Polansek | ) www.reuters.com time to read: +5 min

Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim's Pride (PPC.O), but will pinch consumers' pockets as they try to save money by turning away from higher-end proteins. Arkansas-based Tyson, which sells all three types of meat, had to deal with a glut of chicken after earning massive profits when meat prices soared during the COVID-19 pandemic. The U.S. government last month trimmed its estimate for 2023 chicken production from August due in part to expectations for lower chick placements. "We've seen some recovery in chicken prices and we've seen some consumer prices start to level off," Tyson CFO John R. Tyson told investors last month. Further increases in chicken prices could threaten demand, said Adam Speck, senior commodity analyst for Gro Intelligence.

Persons: Lucas Jackson, Tyson, Bob Brown, Brown, Donnie King, Arun Sundaram, Sundaram, We've, John R, Adam Speck, Bill Densmore, Tom Polansek, Caroline Stauffer, David Gregorio Our Organizations: New York U.S, REUTERS, Rights, Tyson Foods, U.S . Department of Agriculture, Rabobank, Producers, CFRA Research, Gro Intelligence, Fitch, Thomson Locations: Brooklyn, New, Arkansas, U.S, freezers ., Wilkesboro , North Carolina, Great

☆ Brooklyn subway shooter who wounded 10 faces sentencing on terrorism charges
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Frank James, the suspect in the Brooklyn subway shooting walks outside a police precinct in New York City, New York, U.S., April 13, 2022. "I got on the subway train that was carrying people," James told the courtroom. James opened fire during the morning rush hour as the train headed to an underground station in Brooklyn's Sunset Park neighborhood. Prosecutors from the U.S. Attorney's office in Brooklyn are seeking what amounts to a life sentence: 10 concurrent life sentences plus 10 years. James' attorneys are seeking an 18-year sentence, according to court documents.

Persons: Frank James, Andrew Kelly, James, Gabriella Borter, Rami Ayyub Organizations: Brooklyn, REUTERS, New, New York Police Department, Thomson Locations: New York City , New York, U.S, New York, Brooklyn, New York City, East Village, Manhattan, Sunset, Bronx, Philadelphia, Milwaukee, New Jersey

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