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☆ 3 reasons why 'Succession' tech bro Lukas Matsson is Elon Musk crossed with Daniel Ek
▼ + stars: | 2023-05-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Viewers say the character seems to resemble aspects of both Elon Musk and Spotify CEO Daniel Ek. Alexander Skarsgard plays Matsson, the billionaire CEO of tech streaming media giant GoJo – a socially awkward, vaguely sinister tech bro. But viewers have been pointing out the character's similarities to two bosses in particular — Elon Musk, and Spotify CEO Daniel Ek. "I definitely didn't try to play an Elon Musk character," Skarsgard said. In one recent episode of "Succession," Matsson tweets a "very nasty joke" after Kendall Roy's presentation about the Living+ initiative because he's less than pleased about the move.

☆ 9 useless body parts that humans no longer need
▼ + stars: | 2023-05-11 | by ( Peter Kotecki | Frank Olito | ) www.businessinsider.com time to read: +1 min

Some human body parts have become useless over the past few million years. Useless body parts include the appendix, the tail bone, and the muscle fibers that produce goose bumps. Take a look at nine body parts that remained in the human body despite having no function for millions of years. Several other body parts used to be important for humans' survival, but they have since become useless. Take a look at nine body parts that remained in the human body despite having no function for millions of years.

☆ ECB may need to raise rates for longer than anticipated: Kazimir
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, May 9 (Reuters) - The European Central Bank may need to raise interest rates for longer than currently anticipated, and September could be the earliest moment when policymakers can judge whether past rate hikes have been effective, ECB policymaker Peter Kazimir said on Tuesday. The ECB has lifted rates at each of its past seven meetings to fight a historic surge in consumer prices and policymakers have signalled further hikes to come as inflation pressures continue to build. "Based on today's data, we will have to keep raising interest rates for longer than anticipated," Kazimir, Slovakia's central bank chief, said in a blog post. The ECB sees inflation falling under 3% by the final quarter of this year, then taking almost two more years to ease back to its 2% target. "The development of core inflation, the continued buildup of wage pressures, and high-profit margins call for vigilance and reconfirm the need to continue on our path," Kazimir said.

May 8 (Reuters) - Australia's Westpac Banking Corp (WBC.AX) on Monday threw out a cost-cutting target citing inflation and flagged thinner profit margins going ahead, but investors pushed its shares higher after it handily beat expectations for first-half profit. Westpac shares closed 2% higher, ahead of a broader market advance (.AXJO) of 0.8%, as the market cheered the better-than-expected profit. Costs for Westpac came to A$5 billion for the half, down from A$5.2 billion a year earlier. Westpac declared an interim dividend of 70 Australian cents per share, up from 61 Australian cents last year. ($1 = 1.4810 Australian dollars)Reporting by Roushni Nair in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Expedia CEO Peter Kern: We are using A.I. everywhere
▼ + stars: | 2023-05-05 | 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 EmailExpedia CEO Peter Kern: We are using A.I. everywhereExpedia CEO Peter Kern joins 'Squawk on the Street' to discuss company shares surging post earnings and the outlook for the travel sector.

☆ Expedia Group beats Street estimates on record lodging bookings
▼ + stars: | 2023-05-04 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, May 4 (Reuters) - Expedia Group Inc (EXPE.O) on Thursday beat Wall street estimates for first-quarter revenue on record lodging bookings and increased international travel demand. "The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia," Expedia Group CEO Peter Kern said in a statement. The Expedia.com and Hotel.com operator posted an adjusted first-quarter loss of 20 cents per share, missing analysts' expectations for a loss of 4 cent a share. The online booking company's revenue rose to $2.7 billion in the first quarter up 18% from a year ago, the highest first quarter revenue for the company, and beat analysts' average estimate of $2.6 billion. Reporting by Doyinsola Oladipo in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Tragedy chanting: ‘Vile’ soccer songs about deaths fueled by ‘need to hurt’ opposing fans
▼ + stars: | 2023-05-03 | by ( Matias Grez | ) edition.cnn.com time to read: +8 min

CNN —Described as “vile” and “unacceptable” and fueled by “the need to hurt,” ‘tragedy chanting’ is becoming an increasing concern to soccer authorities. Then, in 1989, overcrowding in the stands ahead of the FA Cup semifinal between Liverpool and Nottingham Forest at Hillsborough Stadium led to the deaths of 97 Liverpool fans. Nottingham Forest fans hold up a banner in memory of the 97 victims of the Hillsborough disaster. The working group has also been in contact with the Crown Prosecution Service (CPS) to discuss whether convictions can be pursued for fans that engage in tragedy chanting. Heysel Stadium Disaster, May 1985.

☆ Harry Belafonte: A Life in Photos
▼ + stars: | 2023-04-25 | by ( Peter Keepnews | ) www.nytimes.com time to read: +1 min

Harry Belafonte, born in Harlem to West Indian immigrants, captivated audiences with his singing and almost single-handedly ignited a craze for Caribbean music. He achieved movie stardom with his striking good looks and won a Tony Award for best featured actor in a musical. But Mr. Belafonte, who died on Tuesday, was more than an entertainer; his primary focus from the late 1950s until the end of his life was civil rights. Dr. Martin Luther King Jr. and took part in the March on Washington in 1963. In the 1980s, he helped organize a cultural boycott of South Africa under apartheid to raise money to fight famine in Africa.

☆ Harry Belafonte, 96, Dies; Barrier-Breaking Singer, Actor and Activist
▼ + stars: | 2023-04-25 | by ( Peter Keepnews | ) www.nytimes.com time to read: +2 min

He provided money to bail Dr. King and other civil rights activists out of jail. His spacious apartment on West End Avenue in Manhattan became Dr. King’s home away from home. The suit was settled the next year, with Mr. Belafonte retaining possession.) In an interview with The Washington Post a few months after Dr. King’s death, Mr. Belafonte expressed ambivalence about his high profile in the civil rights movement. In Atlanta for a benefit concert for the Southern Christian Leadership Conference in 1962, Mr. Belafonte was twice refused service in the same restaurant.

☆ Russian Shipbuilders Are Running Out of Parts
▼ + stars: | 2023-04-24 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

The Russian shipbuilding sector is facing its biggest challenge since the collapse of the Soviet Union, some executives say. Photo: Peter Kovalev/Zuma PressRussian shipbuilding behemoth United Shipbuilding Corp. is running out of key engine parts, delaying or halting the production of tankers and ocean vessels the country needs to move its oil and cargo. Soon after Russia invaded Ukraine in February 2022, the U.S. and Europe slapped Russia with sanctions and export controls that have disrupted the flow of engine parts, propellers and fuel pumps.

PARLIAMENT 'CIRCUMVENTED'The Credit Suisse/UBS merger marked the first time that parliament had withheld its support for emergency laws designed to deal quickly with crises. Swiss Finance Minister Karin Keller-Sutter defended the use of the emergency powers, saying Switzerland was not an "emergency dictatorship." "The emergency law is based on the federal constitution and I don't think it's correct to say it's illegal." "Politicians might have wanted to show their disapproval about what happened, but they don’t want the UBS takeover to fail." The use of such emergency legislation, overturning antitrust rules, is a problem for Swiss democracy and rule of law.

☆ Exclusive: ECB policymakers converging on 25-bps rate hike in May - sources
▼ + stars: | 2023-04-13 | by ( Balazs Koranyi | ) www.reuters.com time to read: +3 min

The ECB has raised rates by at least 50 basis points each at six successive meetings -- the fastest pace on record -- to fight stubbornly high inflation. The sources said that some are advocating no change in May - mostly the same Southern European policymakers who did not support last month's 50 basis point increase, while others - also a small group - argue for another 50 basis point hike. Klaas Knot of the Netherlands said it was unclear whether 50 basis points would be needed or if 25 was enough. Slovakia's Peter Kazimir said the ECB could perhaps slow down the pace of its increases while Austria's Robert Holzmann meanwhile backed another 50 basis point move. Markets currently price 25 basis point hikes each in May and June, while a third such increase is fully priced in by September.

☆ Exclusive: ECB policymakers converging on 25-bps rate hike in May , sources say
▼ + stars: | 2023-04-13 | by ( Balazs Koranyi | ) www.reuters.com time to read: +3 min

☆ The New York Sun hires former News Corp. exec and MailOnline boss Noah Kotch
▼ + stars: | 2023-04-05 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +2 min

The New York Sun has hired online and television news veteran Noah Kotch as managing editor. Kotch will work with editor Seth Lipsky to grow the newsroom and find new audiences. The New York Sun, a conservative-leaning online newspaper, has hired former top News Corp. executive Noah Kotch as managing editor, the company confirmed. Kotch was most recently general manager at News Corp., where he worked on projects such as AI-powered news aggregator Knewz. In a brief phone interview Efune said The New York Sun is about "principle over politics and people over party."

☆ Expedia Group launches in-app feature powered by ChatGPT
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, April 4 (Reuters) - Online travel booking company Expedia Group Inc (EXPE.O) said on Tuesday it launched an in-app feature powered by OpenAI’s ChatGPT for users to start conversations and receive hotel, flight and destination recommendations. Expedia and Booking Holdings Inc's (BKNG.O) Kayak are among the first travel companies to integrate generative artificial intelligence with travel search as the industry seeks ways to make travel planning easier. The Vrbo and Hotels.com operator said the feature will also automatically save recommendations. “We can now offer travelers an even more intuitive way to build their perfect trip,” said Expedia Group CEO Peter Kern. Reporting by Doyinsola Oladipo in New YorkOur Standards: The Thomson Reuters Trust Principles.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. Although some investors in Credit Suisse bonds lost everything, Swiss taxpayers are still on the hook for up to 9 billion Swiss francs ($9.8 billion) of potential losses arising from certain Credit Suisse assets. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. Global standards for dealing with teetering “too big to fail” banks were key a part of the package of rules introduced after the global financial crisis. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

☆ ECB rates will need to rise but possibly at a slower pace - policymakers
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT, March 29 (Reuters) - European Central Bank interest rates will likely have to rise further to contain inflation, policymakers said on Wednesday, but at least one outspoken conservative floated the idea of a slowdown in the pace of increases. ECB chief economist Philip Lane, who makes the formal policy proposals to his 25 colleagues, said that his baseline is for the turmoil to dissipate and then rates would need to rise several times. "If the financial stress we see is non-zero, but turns out to be still fairly limited, interest rates will still need to go up." Slovak central bank chief Peter Kazimir, a proponent of rapid rate increases, meanwhile made the case for slower rises following three straight 50-basis point hikes. Reporting by Balazs Koranyi, Jan Lopatka, Jason Hovet and Robert Muller; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Airbnb hosts who are booking up their spaces during the era of 'Airbnbust' share 3 strategies they're using to make money on the platform
▼ + stars: | 2023-03-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Many Airbnb hosts are currently facing empty booking calendars and stiff competition. Vacation rental bookings started slowing down in 2022 and we've since entered an era coined 'Airbnbust.' "You can make more monthly money because people will pay more for a vacation rental than a long-term rental," he told Insider. Heilbron owns a second Airbnb property in Pinehurst, North Carolina, where golf events are frequently hosted. Courtesy of Avery HeilbronAnother major perk of owning a short-term vacation rental in Pinehurst is that the village hosts a lot of golf tournaments, including the U.S.

☆ Why Blackouts, Power Outages Are Becoming More Common
▼ + stars: | 2023-03-23 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

Power outages have increased 64% from the early 2000s, and weather-related outages — many driven by the worsening climate crisis — have increased 78%. A record-breaking blizzard in Buffalo, New York, this winter caused power outages throughout the city, resulting in the deaths of 47 residents. In 2021, a heat wave led to power outages and the deaths of hundreds in the Pacific Northwest. While regional organizations might use fees to penalize companies for power outages, it's now much harder to pinpoint and hold a person or entity responsible. In the meantime, the climate crisis will continue to wreak havoc on an aging grid system that puts profits over reliability.

"I am very well aware of the delicacy of the situation ... but we are not yet at the finish line." Fellow hawk Simkus also told reporters in Vilnius he believed that Thursday's "was not the last rate hike". But neither policymaker made a case for a rate increase as soon as the next ECB meeting, and Kazimir said it was useless to speculate about the May 4 decision. French central bank governor Francois Villeroy de Galhau said the hike reflected the ECB's inflation-fighting priorities and signalled confidence in the solidity of European banks. "There are risks to inflation on both sides, but in my view, upward risks are much greater," he said.

☆ The global banking sector will see pressure until there's clarity on liquidity concerns: Peter Kraus
▼ + stars: | 2023-03-16 | 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 EmailThe global banking sector will see pressure until there's clarity on liquidity concerns: Peter KrausPeter Kraus, Aperture Investors chairman and CEO, joins 'Squawk Box' to discuss Kraus' reaction to stock pressures on the regional banks, if the structure in Europe is more favorable towards larger banks, and more.

☆ Storm Freddy triggers floods in Malawi, killing at least 11
▼ + stars: | 2023-03-13 | by ( Frank Phiri | ) www.reuters.com time to read: +2 min

[1/3] Branches of trees sway as cyclone Freddy hits, in Quelimane, Zambezia, Mozambique, March 12, 2023, in this screen grab taken from a handout video. UNICEF Mozambique/2023/Alfredo Zuniga/Handout via REUTERSBLANTYRE, Malawi, March 13 (Reuters) - At least 11 people have died and 16 are missing around Malawi's second-largest city Blantyre after tropical storm Freddy brought torrential rains that triggered floods and landslides, police said on Monday. It pummelled Mozambique for the second time in a month as a cyclone over the weekend before weakening as it moved inland towards Malawi. "Some missing people are feared buried in rubble and our team is working with other cooperating national agencies," Kalaya said. Scientists say climate change is making tropical storms stronger, as oceans absorb much of the heat from greenhouse gas emissions and when warm seawater evaporates heat energy is transferred to the atmosphere.

[1/3] Branches of trees sway as cyclone Freddy hits, in Quelimane, Zambezia, Mozambique, March 12, 2023, in this screen grab taken from a handout video. It pummelled central Mozambique on Saturday, ripping roofs off buildings and bringing widespread flooding around the port of Quelimane, before moving inland towards Malawi with torrential rains that caused landslides. At least six people died in Mozambique's Quelimane, which was struck hard by the storm, authorities told the public broadcaster on Monday. The total number killed by storm Freddy in Mozambique, Malawi and Madagascar since it first made landfall last month is now nearing 100. Malawi has been battling the deadliest cholera outbreak in its history, and U.N. agencies have warned the situation could now get worse.

☆ A 30-year-old property owner in Seattle is experimenting with short-term rentals and overcoming the 'Airbnbust' by setting up one-of-kind listings, including a 70s-themed 'Groovy Guest House'
▼ + stars: | 2023-03-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Real estate investor Peter Keane-Rivera recently got into short-term vacation rentals. After nearly five and a half years of doing long-term rentals, Seattle-based property owner Peter Keane-Rivera is experimenting with short-term vacation rentals via Airbnb. "He said, 'you'll pretty much double the rent on a long-term rental unit if you convert it to a short-term vacation rental,'" Keane-Rivera, who works full-time at a large aerospace manufacturer in the Seattle area, told Insider. While that may have been true when his mentor was listing Airbnbs, vacation rental bookings started slowing down in 2022 and hosts started worrying about what was coined 'Airbnbust.' After looking through listings of other Airbnbs in the Seattle area and evaluating his competition, Keane-Rivera settled on creating a 70s-themed space.

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