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☆ Fed policymakers will see 'they blew it' with interest rate hikes, predicts Starwood Capital's Barry Sternlicht
▼ + stars: | 2022-12-06 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

In Starwood Capital CEO Barry Sternlicht's view, the Federal Reserve's ongoing interest rate hikes are driving the U.S. economy straight into a recession. During a session of CNBC's Financial Advisor Summit on Tuesday, Sternlicht said he thinks that an economic contraction will emerge next year and that Fed Chairman Jay Powell "will see that they blew it." "The economy is absolutely going into a recession, and it's absolutely definitive," Sternlicht told CNBC's Sara Eisen, who moderated the session. Right now, the 10-year Treasury bond is yielding roughly 3.6%, compared with the 2-year bond's yield of almost 4.4%. While inflation is a normal part of an economy, the current rate is far above the Federal Reserve's target of 2% over the long run.

☆ I'm a scientist and a model. My days include tagging alligators, hunting pythons, and posing at luxury events in heels and full makeup.
▼ + stars: | 2022-12-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

When people who know her as a model discover she's a scientist, they respect her more, she said. We always had four wheelers and creeks and stuff like that, so I think that's definitely why I'm outdoorsy. I also do other things on the side, including python hunting, shark diving, and tagging of various species like alligators. Now I have contracts with some clothing and drink companies, and I'm also signed with an agency that does luxury event modeling. As a model, when you're talking to somebody and they find out you're a scientist it's almost like the respect for you changes.

☆ People are turning to fish heads, protein shakes, and unsold food apps to save money on groceries
▼ + stars: | 2022-12-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +7 min

An app that offers unsold food saw a 100% month-on-month rise in the first half of the year. Jenny Holden, who runs a PR firm in Staffordshire, told Insider that she's started having a pea protein shake for dinner once a week. More Brits are buying unsold food through appsToo Good To Go lets users buy unsold food for one-third of the price. One user of such unsold food apps is Penny Moyses, the founder of the Clean and Tidy Home Show, which offers household budgeting tips. The energy price cap has been extended by one year, but will increase by £500 ($613) from April 2023.

☆ Blackstone's grand ambitions for attracting retail money faces a hiccup
▼ + stars: | 2022-12-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

It's also a key part of the firm's push to attract retail investors, Insider's Rebecca Ungarino reports. Bloomberg previously reported that both firm CEO Steve Schwarzman and President Jon Gray have each put $100 million of their own money into BREIT since July. But as nice as it is to have the bosses' money backing your fund, that's not the target audience. And while there is a lot of upside to attracting retail investors — its private wealth arm has quadrupled in size to $233 billion in assets in four years — there are risks, too. Click here to read more about the recent headwinds facing Blackstone's big bet to attract retail money.

Here's everything you need to know about paying your taxes with a credit card and the best cards to use. How to pay taxes with a credit cardYou'll have to pay your taxes through a third-party payment processor if you want to use a credit card, and they all charge credit card processing fees. If you want to pay state taxes or local taxes (like property taxes) with a credit card, you can try seeing if your tax agency accepts credit cards and charges reasonable fees. You should only pay your taxes with a credit card if you can afford to pay off your credit card bill immediately. Pay taxes with a credit card frequently asked questions (FAQ)Is there a cash advance fee if I pay taxes with a credit card?

☆ The electric Hummer isn't as great for the environment as you might think — and it proves not all EVs are created equal
▼ + stars: | 2022-12-02 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

If you think driving a pint-sized Nissan Leaf is as good for the planet as driving a huge electric Hummer, think again. The GMC Hummer EV uses significantly more electricity than other EVs, meaning it produces more pollution upstream. Moreover, the GMC Hummer EV is in many ways a supersized gas guzzler for a new era. EVs can be energy guzzlers tooOn the whole, electric cars use less energy than gas-powered ones. The 4.5-ton elephant in the roomThe Hummer EV is a full 4,000 pounds heavier than a well-optioned, gas-powered Ford F-150.

☆ After the Great Resignation and quiet quitting, the era of 'loud layoffs' is here
▼ + stars: | 2022-11-30 | by ( Jennifer Liu | ) www.cnbc.com time to read: +5 min

Within weeks, mass layoffs primarily in tech, including at Twitter, Meta, Amazon, Salesforce, HP, Lyft, Doordash and more, have flooded headlines. And after the Great Resignation and quiet quitting rocked the market, the new era of "loud layoffs" is having an outsized impact on how people feel about their jobs. Why tech layoffs have a chilling effect: It's 'wrapped up with our economic aspirations'Even though they've been concentrated so far, tech layoffs do have an outsized effect on worker sentiment. "The tech industry is wrapped up with our economic aspirations as Americans. The tech industry is wrapped up with our economic aspirations as Americans.

☆ Schiff says McCarthy will 'misrepresent his record' and oust him from his committee position thanks to the 'QAnon caucus'
▼ + stars: | 2022-11-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

Rep. Adam Schiff accused House Minority Leader Kevin McCarthy of following the "QAnon caucus." McCarthy, nominated for Speaker, pledged to remove Schiff from the House Intelligence Committee. However, Rep. Marjorie Taylor Greene has said she would vote for McCarthy after he promised to reinstate her committee assignments. McCarthy has also pledged to remove Rep. Ilhan Omar and Rep. Eric Swalwell from their committees and investigate DHS Secretary Alejandro Mayorkas on his approach to border security. He will misrepresent Eric Swalwell or Ilhan Omar, whatever he needs to do to get the votes of the QAnon caucus within his conference."

Cyber Monday is here, and on top of finding great deals on tech products and kitchen appliances, you can also find steep discounts on more specific items like weighted blankets. Great Price Gravity Blanket (25 lb, Single) The Gravity Blanket uses deep touch pressure stimulation to help you relax and sleep better. $209.00 from Gravity Originally $300.00 Save 30%Gravity Cooling Blanket (15 lb, Single) Gravity Blanket introduced a cooling weighted blanket, which features a cooling duvet cover made from a polyester/spandex blend. In our guide to the best weighted blankets, we named Gravity's 35-pound version the best extra-heavy weight blanket. In addition to deals on Gravity blankets, we've also seen low prices from other brands we've tested.

We compared Fitbit models and chose the Charge 5 as our favorite for fitness tracking, and it currently has the best Black Friday deal. Lowest Price Fitbit Charge 5 Priced at an all-time low, the Charge 5 hits a budget-friendly price point while offering stellar activity tracking in a smaller footprint than a smartwatch. Lowest Price Fitbit Sense 2 The Fitbit Sense 2 is the brand’s answer to the Apple Watch, featuring temperature sensing, a built-in ECG, and advanced sleep tracking. It also offers tracking for a wide variety of activities and is compatible with smartphone notifications and some apps. Great Price Fitbit Versa 2 With its large, squared-off touch screen, the Fitbit Versa 2 is an attractive and affordable mix of smartwatch and activity tracker.

☆ Debt-ridden Ghana plans to buy oil with gold instead of dollars, as foreign currency reserves dwindle to an alarming low
▼ + stars: | 2022-11-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Ghana's government is planning to use gold to pay for oil instead of shelling out US dollars. The move is expected to reduce the "persistent depreciation" of the cedi, the Ghanaian currency. As of end-September, Ghana's forex reserves were just enough to cover 3 months worth of imports. In order to protect the country's fast-dwindling foreign currency reserves, Ghana wants to pay for oil with gold instead of shelling out precious US dollars, Mahamudu Bawumia, the country's vice president said Thursday. However, it still has to import refined oil products such as gas and diesel, because Ghana's only oil refinery has been offline following an explosion in 2017, per Reuters.

☆ You can save up to $119 on internet-famous Gravity weighted blankets for Black Friday — and competitors are holding their own sales, too
▼ + stars: | 2022-11-25 | by ( Amir Ismael | Senior Reporter | Insider Reviews | ) www.businessinsider.com time to read: +3 min

Great Price Gravity Blanket (25 lb, Single) The Gravity Blanket uses deep touch pressure stimulation to help you relax and sleep better. $209.00 from Gravity Originally $299.99 Save 30%Gravity Cooling Blanket (15 lb, Single) Gravity Blanket introduced a cooling weighted blanket, which features a cooling duvet cover made from a polyester/spandex blend. In our guide to the best weighted blankets, we named Gravity's 35-pound version the best extra-heavy weight blanket. In addition to deals on Gravity blankets, we've also seen low prices from other brands we've tested. Blanquil: Save 40% with the promo code BF2022Brooklinen: Save 20% on weighted blankets and everything sitewideNest Bedding: Save 30% plus free shippingBaloo: Save 15% plus free shipping and free returnsBrooklyn Bedding: Save 30% sitewideLayla Sleep: Save $110 on weighted blankets or get 60% off when bundled with a mattressLoading Something is loading.

SummarySummary Companies Coal miners struggling to fund expansion plansThermal coal costs more than coking coal after price surgeMost Western bankers pulling back from coal industryLONDON, Nov 24 (Reuters) - It's the best of times, it's the worst of times. At least when it comes to mining coal. With funding hard to come by from Western banks, coal miners outside China have turned more to equity markets this year. "With regard to thermal coal mining, any transaction in coal mining requires an enhanced environmental risk review," a Deutsche spokesperson said, adding that the bank was updating its coal policy. Bens Creek listed shares partly because of the lack of appetite from banks to support any expansion of coal mining, chief executive Wilson said.

☆ Meme-stock billionaire Ryan Cohen explains why he bet on GameStop and dumped Bed Bath & Beyond in a new interview. Here are the 10 best quotes.
▼ + stars: | 2022-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Ryan Cohen reflected on his GameStop bet and explained his sudden sale of Bed Bath & Beyond stock. Chewy's billionaire cofounder emphasized the impact of higher interest rates on investors. "Higher interest rates are a game changer. "Before, you had 0% interest rates so there really was no discount rate, and there really wasn't much of a difference between long-term cash flows and short-term cash flows. Now you have a real discount rate, you've got the 10-year Treasury north of 4%, so the value of short-term cash flows is much greater than long-term cash flows."

Black Friday falls on November 25 this year, but there are a ton of early deals on home goods, including weighted blankets. While several brands that make weighted blankets are hosting sales, the Gravity Blanket is easily the most popular — and right now it's the best deal of them all. Great Price Gravity Blanket (25 lb, Single) The Gravity Blanket uses deep touch pressure stimulation to help you relax and sleep better. Deal Gravity Blanket (35 lb) Gravity's 35-pound weighted blanket evenly distributes weight across your king-size bed and is perfect for those who are looking for some extra heft. In our guide to the best weighted blankets, we named Gravity's 35-pound blanket the best for extra-heavy weight.

☆ U.S. export restrictions of powerful chips to China hurt now, but should prove bullish long term
▼ + stars: | 2022-11-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The advanced chips are what we want to focus on as those represent the big risk to the current world order should they fall into the wrong hands. As a result, it is simply too risky to allow China to continually gain an increasing controlling position over the semiconductor manufacturing process. For this reason, we think that as painful as it may be in the near term, the U.S. isn't wrong to block advancement in China. Lastly, don't forget, thanks to the latest restrictions, U.S. citizens risk losing their citizenship should they choose to help China pursue its advanced chip production goals. Along with these defensive actions, we are pleased to see more domestic support for the semiconductor industry.

☆ Layoffs mount, and Main Street still can't find any workers to hire for open jobs
▼ + stars: | 2022-11-19 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

"Inflation, supply chain disruptions, and labor shortages continue to limit the ability of many small businesses to meet the demand for their products and services." Meanwhile, the National Federation of Independent Business, the main small business trade group, reported last week the tenth-consecutive month of a confidence decline on Main Street, though little change in the need to hire more workers. When it comes to salary, small business owners generally don't play in the same league as larger companies. For example, don't just offer yoga or meditation apps or gym benefits; offer multiple ways employees can recharge, Lebovits said. Finally, small businesses need to understand what attracts job-seekers in the first place and play up these advantages in all of their communications with candidates.

If you've been waiting until Black Friday to score a deal on that Fitbit tracker you've had your eye on, your time has come. It offers just enough in the way of smartwatch capability without it getting in the way of being a true fitness tracker. Lowest Price Fitbit Charge 5 Priced at an all-time low, the Charge 5 hits a budget-friendly price point while offering stellar activity tracking in a smaller footprint than a smartwatch. Lowest Price Fitbit Sense 2 The Fitbit Sense 2 is the brand’s answer to the Apple Watch, featuring temperature sensing, a built-in ECG, and advanced sleep tracking. Great Price Fitbit Versa 2 With its large, squared-off touch screen, the Fitbit Versa 2 is an attractive and affordable mix of smartwatch and activity tracker.

☆ Future Florida homebuyers face increasing costs and greater exposure to natural disasters, which could devastate residents and the state's booming real estate market
▼ + stars: | 2022-11-17 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Data from Freddie Mac shows an increasing share of people are relocating to areas more prone to natural disasters. This is especially the case in Florida, a pandemic housing hotspot that has experienced severe flooding and storms. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Flordians are the most at risk to natural disastersIndeed, certain US housing markets — particularly cities in Florida — are more vulnerable to natural disasters than others. The organization anticipates that by April 2027, Florida's population will average 294,756 net new residents per year, averaging 808 each day.

☆ U.S. retailers take a knock after Target's sales warning
▼ + stars: | 2022-11-16 | by ( Medha Singh | ) www.reuters.com time to read: +2 min

But shares in Target's larger competitor Walmart (WMT.N) edged up 1.1%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are reining in discretionary spending, bad news for retailers that rely on year-end shopping to boost annual sales. U.S. Commerce Department data showed U.S. retail sales improved more than expected after no growth in September. Bucking the retail trend, home improvement chain Lowe's Cos Inc (LOW.N) added more than 4% after raising its annual profit forecast, while discount store operator TJX Cos Inc (TJX.N) bumped up annual same-store sales forecast, rising almost 1%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; Additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. retailers knocked as Target warns on gloomy sales outlook
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Target shares were forecast to open nearly 14% lower, dragging down other retailers. Target's larger competitor Walmart (WMT.N) slipped nearly 2%, a day after lifting its annual sales and profit forecast as demand for groceries held up despite higher prices. With annual inflation running at 7.7% in October and high interest rates, shoppers are skimping on discretionary spending, a gloomy prospect for a sector that relies on year-end shopping for a large portion of its annual sales. Target shares lost 22.7% of their value since the start of the year until Tuesday, while Walmart edged up 1.9%. Walmart, Target shares recover as CPI peaksReporting by Medha Singh in Bengaluru; additional reporting by Bansari Mayur KamdarOur Standards: The Thomson Reuters Trust Principles.

☆ Jim Simons' RenTech fund virtually eliminated its $500 million Tesla stake last quarter - and slashed its Twitter bet by 90%
▼ + stars: | 2022-11-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Renaissance Technologies eviscerated its Tesla and Twitter stakes last quarter. Jim Simons' quant fund also slashed the value of its Twitter bet from around $94 million to below $11 million. The quantitative fund pared its Tesla position from a split-adjusted 2.2 million shares valued at $504 million at the end of June, to only 1,400 shares worth less than $400,000 at the end of September. Moreover, it cut its Twitter stake from 2.5 million shares worth $94 million at the midpoint of this year, to 248,000 shares valued around $11 million on September 30. On the other hand, it boosted its Airbnb bet by 30% to 7.3 million shares, meaning the home-rental platform jumped from its 17th-largest holding to number four on the list.

Also: Put your money in a high-yield savings account — you can earn around 3% interest right now. We just experienced the longest bull market in economic history, with the stock market increasing in value for 11 years straight. Consolidate your debt into fixed interest rate loansIf any of your debt has variable interest rates, consider moving that debt into a loan that has a fixed interest rate so your interest rate won't change. For instance, if you have credit card debt, chances are the interest rates have gone up. When you move your money into high-yield savings, consider also increasing your savings amount by 10%.

Find the right card with Uber and Lyft perks Capital One Savor Cash Rewards Credit CardChase Sapphire Reserve®Ink Business Preferred® Credit CardCapital One SavorOne Cash Rewards Credit CardChase Sapphire Preferred® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Note that credit card lenders may use many different variations of credit score models when considering your application. Annual fee: $95Other benefits: This is one of the best small-business cards on the market thanks to perks such as:Review: Ink Business Preferred credit card reviewCapital One SavorOne Cash Rewards Credit CardWhy use it for rideshares: The Capital One SavorOne Cash Rewards Credit Card card has Uber-related benefits that are identical to the Capital One Savor Cash Rewards Credit Card. Credit cards for Uber and Lyft frequently asked questions (FAQ)What is the best credit card for rideshare expenses? The best credit card for rideshare expenses isn't necessarily the best credit card for you.

☆ The Lehman Brothers of Crypto: Here's how the fall of Sam Bankman-Fried's FTX compares to the collapse that sparked the Great Financial Crisis
▼ + stars: | 2022-11-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

It gives maybe the clearest, most entertaining breakdown of how many, many very bad bets on subprime mortgages kickstarted the 2008 Financial Crisis. The most serious domino to fall 14 years ago was Lehman Brothers, the classic too-big-to-fail behemoth that did in fact go under. All this is a roundabout way of saying the collapse of Sam Bankman-Fried's crypto exchange, FTX, is severe and dramatic enough to warrant its own movie in a few years. Reminisce with me for a moment: In the years leading up to 2008, Lehman Bros loaded up its balance sheet with huge amounts of subprime mortgage debt. Lehman went under, and the world sunk into its worst financial crisis since the Great Depression.

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