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☆ Why Instagram's 'Creator Marketplace' has left many influencers twiddling their thumbs instead of scoring brand deals
▼ + stars: | 2023-04-03 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +9 min

"I was so excited when the creator marketplace was rolled out," content creator Melanie Demi told Insider. "Over the last couple of months, I feel like the creator marketplace has died down a little bit," Demi said. "Even on the TikTok creator marketplace, it's the same," said Joseph Arujo, who has access to the feature on both platforms. On TikTok's marketplace, creators can add their starting rates for brand deals or negotiate terms. TikTok's creator marketplace, for example, brought on "alpha partners" in 2021 such as Influential, Whalar, and Captiv8.

☆ Breakingviews: Trump charges could leave important fish unfried
▼ + stars: | 2023-03-31 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

Money markets and currencies were unmoved on Friday morning after a grand jury’s decision to press criminal charges was announced on Thursday night. While pressing charges against a former leader can amount to a dangerous political tool if used frivolously, it also shows that future American leaders are not immune to criminal charges, creating an extra incentive for them to behave. But moments of high political drama make politicians run to their corners of the boxing ring. Follow @thereallsl on TwitterCONTEXT NEWSFormer U.S. President Donald Trump was indicted by a Manhattan grand jury on March 30 and is expected to face criminal charges next week. The poll found 46% of Republican and Republican-leaning voters support Trump, while 32% support Florida Governor Ron DeSantis.

☆ TikTok wants its advertisers to know the 'myths vs. facts' after its CEO's day in Congress
▼ + stars: | 2023-03-28 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Now, it seems, TikTok wants to clear up some facts that lawmakers may have gotten wrong. TikTok wants to clear up "Myth vs Fact." After the TikTok CEO's 5-hour hearing at Congress last Thursday, the company wants to reassure advertisers that it'll be fine. The document states: "TikTok does not permit any government to influence or change its recommendation model." Advertisers make up a large chunk of TikTok's user base, which the company says is now at 150 million monthly active users in the US.

☆ SVB sale puts too-big-to-fail risk in a new bottle
▼ + stars: | 2023-03-28 | by ( John Foley | ) www.reuters.com time to read: +4 min

The sale of SVB to rival First Citizens Bancshares (FCNCA.O) addresses the first part, and doubles down on the second. First Citizens snapped up $110 billion of SVB’s assets over the weekend, at a generous $16.5 billion discount to book value. And for the Federal Deposit Insurance Corp, which is handling SVB’s sale, First Citizens chief Frank Holding is a known quantity. In SVB’s case, the FDIC has agreed to absorb some potential losses in the failed bank’s loan book. The FDIC expects its fund for managing failed banks will take a $20 billion hit.

☆ Starbucks pours weak tea on virtual union talks
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 28 (Reuters Breakingviews) - After more than a decade of infusing its coffee with technology, Starbucks (SBUX.O) is putting a lid on one aspect of the digital transition. The $113 billion Frappuccino maker wants to negotiate with unions in person rather than allowing members to join talks by videoconference. Mobile orders accounted for about a quarter of transactions at U.S. stores in the latest quarter. Starbucks also became one of the first big companies to hold a virtual shareholder meeting after the pandemic struck and it hosted the annual event online again last week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Trustbusters pick fight that can make friends
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

CHICAGO, March 24 (Reuters Breakingviews) - After a year of fighting losing battles, one of the United States’ biggest trustbusters is taking on a fight where it will be easy to find support. The Federal Trade Commission proposed new rules on Thursday that would make canceling subscriptions less burdensome for consumers. That’s in stark contrast to the complex, lengthy and occasionally contentious — and unsuccessful — antitrust fights the commission had been waging. The agency is seeking a rule change, not a legal fight. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Microsoft’s Activision sweet talk
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +2 min

The seller’s shares rose 5% on the news Friday, but hurdles remain. Unlike the European Commission, which seems minded to approve the deal, and the U.S. Federal Trade Commission, which is opposed but has a mixed success rate, a CMA block would likely be fatal. So Microsoft pressed its case, submitting data that the agency says shows it has no incentive to yank Activision’s games from rival consoles to its Xbox. Still, Microsoft’s arguments gaining traction is welcome news to merger arbitrageurs. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

TikTok was the top downloaded app in the United States in 2021 and 2022, according to data from analytics firm Sensor Tower. And legacy news organizations like the 176-year-old Associated Press have recently joined TikTok to reach new audiences. Goodwin told CNN that more than 90% of her orders currently come from people who discover her business through TikTok. “If it were to get banned, I would see business plummeting,” Goodwin told CNN. (Laurie Gomez)At a time when major tech giants including Meta and Twitter are slashing staff, TikTok is still hiring American engineers.

☆ Google's AI teams are experiencing a brain drain. Here's where its top researchers are now.
▼ + stars: | 2023-03-23 | by ( Thomas Maxwell | Hugh Langley | ) www.businessinsider.com time to read: +12 min

Top AI researchers have been leaving for startups where their work can have more impact. That frustration over Google's slow movement has been corroborated by other former Google researchers who spoke to Insider. Niki Parmar left Google Brain after five years to serve as a co-founder and CTO of Adept, though like Vaswani she recently left for a stealth startup. Lukasz Kaiser left Google Brain after over seven years to join OpenAI in 2021. Sharan Narang, another contributor to the T5 paper, left Google Brain in 2022 after four years.

☆ TikTok pile-on opens two cans of worms
▼ + stars: | 2023-03-23 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

Yet the bipartisan attack on the short-form video app, owned by China-based ByteDance, really points to two different complications – and each, in turn, opens up a much bigger can of worms. The overarching reason for Chew’s appearance is that President Joe Biden’s administration, and many in Congress, think TikTok’s Chinese backing makes it a dangerous tool of the People’s Republic. Committee Chair Cathy McMorris Rodgers accused TikTok of collecting biometric data and manipulating what information users see. It’s not just TikTok that potentially vacuums up consumer details while having close links to China. Follow @jennifersaba on TwitterCONTEXT NEWSTikTok Chief Executive Shou Zi Chew appeared before the U.S. House of Representatives Energy and Commerce Committee on March 23.

☆ Fed’s self-scrutiny starts off on the wrong foot
▼ + stars: | 2023-03-22 | by ( John Foley | ) www.reuters.com time to read: +7 min

Banks with assets worth $100 billion or more face elaborate reviews, which involve a body called the Large and Foreign Banking Organization Management Group. Supervisors had previously noted, and reflected to the Fed group, which vets bank ratings, that SVB had made progress in tackling some of its weaknesses. The central bank doesn’t even acknowledge the existence of the LFBO Management Group on its public-facing website. Rather than just investigate itself, the Fed board could learn from the companies it regulates. SVB was part of the Fed’s “Large and Foreign Banking Organization” supervisory regime, which covers firms with more than $100 billion of assets.

☆ Market nerves tie US rate-setters’ hands
▼ + stars: | 2023-03-22 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

On Wednesday the central bank raised interest rates a quarter point. The failure of Silicon Valley Bank nearly two weeks ago upended the U.S. financial system, and the Fed and other agencies have had to provide a steadying hand. But by Wednesday morning, just before the central bank’s decision, the futures market was mostly pricing in a 25 basis point hike. Futures contracts tracking the central bank’s benchmark rate have also been shaky. Wall Street reforms passed in 2010 crystallized the central bank's duty to foster a stable financial system.

☆ GameStop surge ignores basic rule of value
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 22 (Reuters Breakingviews) - GameStop (GME.N) investors sent the company’s shares up 40% on Wednesday morning after fourth-quarter results showed it had swung to a net profit. That suggests the company that counts Chewy Founder Ryan Cohen as its chair has put some of its meme-fueled fundraising to use. Unfortunately, investors have forgotten that with such a surge, GameStop will have to grow into a new valuation. The chain reported net profit of $48 million compared with a loss of $148 million in the same quarter a year ago. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ A TikToker with 135K followers who posts about mental health has secured deals with brands like BetterHelp and Dove. Read his 2-page media kit.
▼ + stars: | 2023-03-22 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +5 min

Jorge Alvarez started posting on TikTok in April 2021 because he wanted more Latinx representation. He shares the 2-page media kit he uses to partner with brands like BetterHelp, Dove, and Taco Bell. Jorge Alvarez started posting mental-health content on TikTok in April 2021 because he didn't think there was enough Latinx representation on the social-media platform. Here is what a recent version of his media kit looks like. Page 1 of Jorge Alvarez's media kit.

☆ Nike outruns its competitors
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

Its challenges include unsold goods it has to shift, an 8% drop in year-on-year sales in China, and falling gross profit margins. Nike is nonetheless in a relatively enviable position. Nike is also sporting a five-year total shareholder return of 105%, where Adidas and Under Armour’s are both negative. Even with blips, that shows it has been a better long-term run for investors. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Signature Bank buyer gets a crisis dividend
▼ + stars: | 2023-03-20 | by ( John Foley | ) www.reuters.com time to read: +4 min

The failure of lender Signature Bank (SBNY.O) has forced them to abandon their consolidation-skeptic principles, resulting in a sizeable crisis dividend for Signature’s new owner. Bank mergers almost never happen so quickly, and nobody knows that better than Community Bancorp boss Thomas Cangemi. A study by the St. Louis Federal Reserve found that failed bank selloffs did lessen competition, but not by much. Community Bancorp said it has taken on $13 billion in loans and $25 billion in cash as part of the deal. The FDIC has been given equity appreciation rights in New York Community Bancorp that could be worth up to $300 million.

Trump has said he would stay in the race if he is indicted. Trump, meanwhile, is making a forward-looking pitch to voters, NBC News’ Allan Smith and Jonathan Allen report. And the Washington Post reports Friday that prosecutors investigating the Jan. 6 Capitol riot have obtained a report commissioned by Trump’s campaign that undercut his falsehoods about the election. Santos mulls re-election: New York GOP Rep. George Santos told the Associated Press he is a “maybe” on running for re-election. Sparks fly in the Windy city: Sen. Bernie Sanders, I-Vt., endorsed Cook County Commissioner Brandon Johnson in Chicago’s mayoral race on Thursday.

☆ Companies investing in diversity and wage equality outperform peers
▼ + stars: | 2023-03-17 | 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 EmailCompanies investing in diversity and wage equality outperform peersBrandon Gomez joins 'Squawk on the Street' to discuss Just Capital.

☆ FedEx delivers, for now
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

TORONTO, March 17 (Reuters Breakingviews) - FedEx (FDX.N) is delivering a timely package to investors. FedEx is expecting to cut its U.S. headcount by some 25,000 year-over-year, by the end of this fiscal year. This division is also the largest by revenue, but it benefits greatly from scale. Operating margins dropped in the quarter to 1% from 4.6% as sales fell. Despite the fact that revenue fell in both the Freight and Ground divisions, those groups' operating margins grew.

☆ Where is Silicon Valley's J. Pierpont Morgan?
▼ + stars: | 2023-03-17 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +3 min

After withdrawals lashed the banking system in 1907, financier J. Pierpont Morgan corraled his peers into using their own money to calm the crisis. The contrast with Silicon Valley – which is also embroiled in the ongoing firestorm – couldn’t be more stark. Startup and technology firms’ cash crunch precipitated the fall of Silicon Valley Bank and its parent SVB Financial (SIVB.O), which in turn sparked panic in the financial system. Silicon Valley is fragmented and built on an individualistic ethos. Real, toothsome regulation might force Silicon Valley’s great minds to realize how interconnected their ecosystem is.

☆ Deposit insurance is addiction not medication
▼ + stars: | 2023-03-16 | by ( John Foley | ) www.reuters.com time to read: +7 min

NEW YORK, March 16 (Reuters Breakingviews) - Deposit insurance is as American as apple pie, and twice as unhealthy. Bank deposits in the United States are guaranteed up to $250,000, and over 90% of SVB’s accounts held more than that sum. Alternatively, regulators could invite the market to provide a solution – say, with privately funded insurance for deposits over the guaranteed limit. The trouble is that deposit insurance is like Novocaine – the higher the dose, the more the patient becomes numb. For that reason the best option is probably to do nothing – or better still, lower the deposit insurance limit.

☆ Goldman’s new strategy gets baptism of fire
▼ + stars: | 2023-03-15 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +4 min

NEW YORK, March 15 (Reuters Breakingviews) - The collapse of Silicon Valley Bank is providing a slightly awkward showcase for Goldman Sachs’ (GS.N) manifold talents. It’s true to the new unified “One Goldman Sachs” strategy expounded by Chief Executive David Solomon, dampened by the client not living to tell the tale. The investment bank Solomon now leads scrambled throughout the financial crisis to help panicked clients shore up their finances. SVB’s financial models had to be revised on the fly and approved by its board as the situation deteriorated. There also was no soothing imprimatur from Buffett, or a rich Silicon Valley grandee such as Larry Ellison, Steve Ballmer or Larry Page.

☆ Larry Fink finds way to dodge ESG crosshairs
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 15 (Reuters Breakingviews) - Seismic events elsewhere are making it easier for BlackRock (BLK.N) to inch away from the environmental, social and governance crosshairs. The $8 trillion asset manager’s chair Larry Fink used his annual investor letter to theorise that inflation might stay around 4%, predict stricter bank capital requirements, and namecheck his favourite 80’s band, Talk Talk. BlackRock still backs these objectives, but Fink’s 2023 letter doesn’t even mention ESG. The good news for Fink is that U.S. banking collapses and spiralling inflation mean his detractors’ attention is, at least for now, elsewhere. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Bank runs don’t change Fed’s focus on high prices
▼ + stars: | 2023-03-14 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

The federal government took emergency action to stave off other implosions, but SVB’s collapse cast a shadow over the Fed’s next rate decision. Economists at Goldman Sachs and Barclays scrapped their forecasts for a rate hike and now expect the central bank to hold rates steady when it meets on March 22. That is three times the central bank’s inflation target. Inflation remains much too hot for the Fed’s liking, and the central bank has more reason to repeat February’s 25-basis-point hike than to deviate from it. Its last policy meeting concluded with the central bank lifting the federal funds rate by 25 basis points to a range of 4.5% to 4.75%.

☆ Gig workers still pose roadblock for Uber and Lyft
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 14 (Reuters Breakingviews) - Uber Technologies (UBER.N) and Lyft (LYFT.O) dodged a pothole, but bigger roadblocks may be on the horizon. Jefferies estimates Uber, Lyft and food delivery service DoorDash (DASH.N) will avoid a $20 million to $170 million knock on next year’s earnings thanks to the ruling. A group of Uber and Lyft drivers in New York City staged a strike in February over demands for higher wages. And with a tight job market, competition for workers from employers in other sectors – like retailers, which are hiking minimum wages – is stiff. The Biden administration could still step in, too, having proposed new guidelines for classifying independent workers as employees.

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