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☆ Foxconn's iPhone factory in China — the world's largest — hit by Covid outbreak
▼ + stars: | 2022-10-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Foxconn said Tuesday that its factory in Zhengzhou, China — the world's largest assembly plant for Apple's iPhones — was hit with a small Covid outbreak. Zhengzhou, in central China's Henan province, has been battling a new wave of Covid this month. Foxconn's position highlights the balancing act required by manufacturing facilities to meet customer demand under Beijing's strict Covid policy. Apple still relies heavily on China for the majority of its iPhone production, but the Cupertino giant has looked to diversify its supply chain. Last month, Apple said that it has begun assembling its flagship iPhone 14 in India.

☆ Google’s core business is slowing down amid recession fears
▼ + stars: | 2022-10-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN Business —Google may be the giant in the digital advertising world, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market. It reported revenue of nearly $69.1 billion, up just 6% from the same period in the prior year. YouTube’s ad business, which competes with TikTok, was especially hard hit, with revenue declining nearly 2% from the year-ago quarter. High inflation, looming recession fears and the ongoing war in Ukraine have all continued to weigh on the industry. Growth in other areas of Google’s business also appear to be slowing.

☆ U.S. strikes deal with Google over search warrant data loss
▼ + stars: | 2022-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellyWASHINGTON, Oct 25 (Reuters) - The U.S. Justice Department said on Tuesday it reached an agreement with Alphabet Inc's (GOOGL.O) Google resolving a dispute with the search engine giant over the loss of data responsive to a 2016 search warrant. The government said it was a "first-of-its-kind resolution" that would result in Google reforming "its legal process compliance program to ensure timely and complete responses to legal process such as subpoenas and search warrants." Google, which did not immediately comment, told a U.S. court it had spent over $90 million "on additional resources, systems, and staffing to implement legal process compliance program improvements." In 2016, the United States obtained a search warrant in California for data held at Google related to the investigation of the criminal cryptocurrency exchange BTC-e, the department said. Google will assemble reports and updates regarding the compliance program that will go to the government, the Google Compliance Steering Committee and Alphabet board committees.

☆ YouTube's advertising revenue is taking a hit in the wake of a slowing economy and the dominance of TikTok
▼ + stars: | 2022-10-25 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

YouTube brought in less money from advertising than last year in the wake of a slowing economy and competition from TikTok. Insider recently reported that TikTok is poaching ad dollars away from YouTube, Meta, and Snap. Overall, YouTube's parent company appears to be feeling the sting of a slowing economy, reporting results that missed Wall Street's expectations. Overall, YouTube's parent company seems to be feeling the sting of that slowdown. Alphabet reported earnings and revenue below Wall Street's expectations on Tuesday.

Pediatric cases of the flu and RSV, or respiratory syncytial virus, are on the rise. Here are the signs and symptoms to look out for if your child has a respiratory virus. Does my child have RSV, Covid or the flu? Early symptoms of Covid, RSV and the flu can look similar for many children, including:CongestionCoughRunny noseMuscle achesFeverHeadacheA sore throat, Moffitt said, could be a sign of Covid, as doctors have noticed that infections with omicron subvariants often begin with sore throats. Hotez also urged parents to get their children vaccinated against Covid and the flu.

☆ SoftBank-backed Cerebral is cutting 20% of its employees as demand for its services slows
▼ + stars: | 2022-10-24 | by ( Blake Dodge | ) www.businessinsider.com time to read: +7 min

Cerebral, the SoftBank-backed mental-health startup, is making changes and cuts that will affect about 20% of its employees, Cerebral CEO Dr. David Mou said in an email to employees, reviewed by Insider. In the October 24 email, Mou said the company was adjusting the size of clinician teams to better match patient demand. Employees will be notified of changes throughout the week, Mou said. "We are deeply appreciative of our employees' commitment to our mission and service to Cerebral," the spokesperson said in the statement. These changes will be spread across all divisions - HQ Operations, HQ Support, Clinical Care - affecting approximately 20% of our employees.

Reyes said Hollywood films often reflected the politics of their time — and that had an influence on Latino roles. Studies by the Government Accountability Office, the University of Southern California and other groups consistently show that Latinos are underrepresented in the film industry. Just this year, UCLA’s Hollywood Diversity Report documented “enormous gains” by women and people of color, but Latino representation still lagged. Slowly but surely, we are shaking up the narrative in Hollywood.”Calderón is frustrated by the continuing practice of “brownface,” whereby Latino roles go to white actors. Sanchez cited Eugenio Derbez in “Coda” (2021) as an example of a well-written Latino film character.

☆ Manufacturing software startup Katana raises $35 million in a round led by Spotify-backer Northzone using this 19-slide pitch deck
▼ + stars: | 2022-10-13 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Estonian startup Katana has raised $35 million for its enterprise resource planning software. Check out the 19-slide pitch deck it used to raise the Series B round below. Estonian manufacturing software startup Katana has raised $35 million in a Series B round led by early Spotify investor Northzone. Northzone led the Series B round with additional participation from other VCs, including new investor Lightrock as well as returning investors Atomico, 42CAP, and several angel investors. Check out the 19-slide pitch deck Katana used to raise the fresh funds below.

☆ Putin's nuclear threats are stirring fears of a nightmare scenario. Here's what's in his arsenal and what could happen if he orders the unthinkable.
▼ + stars: | 2022-10-13 | by ( John Haltiwanger | Charles R. Davis | ) www.businessinsider.com time to read: +16 min

The use of a nuclear weapon is "directly tied to Russia's fate on the battlefield," one expert recently told Insider. Putin, who claimed to have placed Russia's nuclear deterrent forces on high alert just days later, has continued to remind the world of Russia's nuclear might in the months since. There are tactical nuclear weapons that are more than four times as powerful. At best, a single tactical nuclear weapon could destroy about a dozen tanks, Podvig said. Kristensen said during the ACA webinar on Tuesday that he believes it's unlikely that Russia employs nuclear weapons in Ukraine.

☆ Cash is king again as money managers are in no rush to embrace risk with Fed raising rates
▼ + stars: | 2022-10-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on October 07, 2022 in New York City. Asset managers rushed to the sidelines as they expect more ugly moves for risk assets amid the Fed's inflation fight. Money market funds are also yielding better returns than previous years after Treasury yields got pushed up by rate hikes. Global money market funds saw $89 billion of inflows for the week ending Oct. 7, the largest weekly injection into cash since April 2020, according to data from Goldman Sachs' trading desk. Meanwhile, mutual fund managers are also holding a record amount of cash, the data said.

☆ Twitter is reviewing its rules around permanent bans amid Elon Musk's takeover attempt — but Trump is unlikely to get his account back, report says
▼ + stars: | 2022-10-12 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Twitter is reviewing its rules around permanent bans on users, sources told the FT.Donald Trump would probably not be allowed back on Twitter if any changes were made, per the sources. Musk, who is attempting to buy Twitter, has said he would reverse Trump's ban if he owned the platform. The billionaire also described Twitter's decision to ban Trump "a morally bad decision" and "foolish," saying he would restore the former president's account. A company spokesman told Insider is "always examining the rules that govern our service and the tools and features that can encourage healthy conversation." Most recently, American rapper Kanye West was locked out of his account after he wrote antisemitic comments in a tweet that was removed by Twitter for violating its guidelines.

☆ A Russian nuclear strike in Ukraine would 'almost certainly' trigger a military response from Kyiv's partners: senior NATO official
▼ + stars: | 2022-10-12 | by ( Natalie Musumeci | John Haltiwanger | ) www.businessinsider.com time to read: +4 min

A Russian nuclear attack would "almost certainly" trigger a military response from Kyiv's friends, a senior NATO official said. There would be "unprecedented consequences" should Putin turn to nuclear weapons, they said, per Reuters. There would be "unprecedented consequences" should Russian President Vladimir Putin turn to nuclear weapons, the unnamed NATO official said, according to Reuters. A Russian nuclear attack would "almost certainly be drawing a physical response from many allies, and potentially from NATO itself," the official warned. "I do not believe that a nuclear response is something that the United States and its allies should be placing on the table.

☆ Crypto Exchange Bittrex to Pay $29 Million Over Violating Sanctions
▼ + stars: | 2022-10-11 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Cryptocurrency exchange Bittrex Inc. will pay $29 million to the U.S. Treasury Department to settle allegations that it violated sanctions and anti-money-laundering laws. The Treasury said Tuesday that fined Seattle-based Bittrex a total of $53 million: a $24 million penalty from the Office of Foreign Assets Control, the Treasury unit that enforces sanctions, and $29 million fine from the Financial Crimes Enforcement Network, which combats illicit finance. As a result, Bittrex will pay about $29 million out of pocket. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Bittrex collected customers’ internet protocol address and physical address information when they joined the platform, OFAC said, but the exchange failed to screen this information for potential sanctions violations.

☆ U.S. banks cut donations to federal candidates, up Democrats' share ahead of mid-terms
▼ + stars: | 2022-10-10 | by ( Pete Schroeder | ) www.reuters.com time to read: +5 min

Following the 2007-09 financial crisis when Democrats cracked down on banks, lenders have typically looked to business-friendly Republicans for support in Congress. And of the top-20 congressional recipients of bank PAC donations this cycle, 10 are Democrats compared with six in 2020, three in 2018, and one ahead of the 2016 election. Reuters GraphicsThe shift in giving patterns shows how banks are rethinking their allegiances amid increased political partisanship. To be sure, the party in power commonly enjoys a bounce in donations and banks are also spreading their bets ahead of a tightening contest, said Ballentine and the other sources. Nine of the top 10 recipients of industry donations are Republicans, including Representative Patrick McHenry who is likely to chair the House finance panel if Republicans win that chamber.

☆ Stocks slip in Asia, brace for CPI and earnings
▼ + stars: | 2022-10-10 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

read more read moreHolidays in Japan and South Korea made for thin trading in Asia, while the Treasury market is also shut on Monday. "The September CPI report should show a moderation in goods prices that is a likely harbinger of a broader slowing in core inflation," he said. "But the Fed will not be responsive to a whisper of inflation moderation as long as labour markets shout tightness." One likely bone of contention will be the strength of the dollar which will pressure offshore earnings. Oil prices edged higher after Brent climbed 11% last week in the wake of a deal on supply reductions by OPEC+.

☆ Twitter’s future isn’t just Elon Musk’s problem
▼ + stars: | 2022-10-06 | by ( John Foley | ) www.reuters.com time to read: +6 min

Buying Twitter is financially onerous, too, but compared with buying a bank, it’s pretty simple stuff. Social media companies, conversely, are a place where people tweet poop emojis and exchange cat GIFs. Congress isn’t blind to the legal vacuum in which large social media companies operate. But while politicians squabble, social media continues to shape society in ways that may only become apparent years later. In a tweet later that day, the Tesla chief said that buying Twitter would accelerate the creation of X, an "everything app."

☆ I'm a 62-year-old Instagram influencer who also owns a PR firm. I worried what my clients would think, but being on social media has actually helped my career.
▼ + stars: | 2022-09-29 | by ( Julie Peck | ) www.businessinsider.com time to read: +9 min

When I got my contract, my agent told me, "You're going to need to post on Instagram." I found myself thinking, 'If I have to post on Instagram, let me write'Dian Griesel. Being on social media has also generated work for me as an advisor to companies looking to understand the 50-and-up demographic. If I'm on set, that's an eight- or 10-hour day. There's the side that you have to get the job done, yes, that's business.

☆ There are 3 main attachment styles—here's the type that 'everyone should strive for,' says therapist
▼ + stars: | 2022-09-28 | by ( John Kim | ) www.cnbc.com time to read: +4 min

Attachment theory is nuanced, like humans are. Studies show that people who are securely attached have the healthiest relationships, and it's the type that everyone should strive for. Avoidant attachment styleMy partner Vanessa leans toward an avoidant attachment style. An avoidant attachment style shows up in adults who hold a positive self-image and a negative image of others. Knowing that Vanessa has more of an avoidant attachment style makes me understand and listen to her more, instead of immediately jumping to blame.

☆ Amazon’s $999 dog-like robot is getting smarter
▼ + stars: | 2022-09-28 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

And Astro will now work with a real-time subscription service from Amazon’s smart-doorbell company, Ring, to provide security monitoring to small and medium-sized businesses. Smarter TVsAmazon unveiled a new series of Fire TV Omni QLED models – the first Fire TV to ship with Dolby Vision IQ. Kindle ScribeFifteen years after launching the Kindle, Amazon is introducing a higher-end version that also serves as a writing device. Its Echo Auto device ($54.99) is now smaller, sleeker and can be more easily mounted in a vehicle. A smarter Echo Show 15Amazon also announced a number of software updates coming to its existing Echo Show 15, a device the company said is especially popular in the kitchen.

☆ I drove the Tesla Model Y and found 7 reasons to buy Elon Musk's $66,000 electric SUV over rivals
▼ + stars: | 2022-09-24 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I tested a 2022 Model Y SUV and came away impressed by its quick acceleration, roomy cabin, and tech features. Sporty drivingThe Tesla Model Y. Tim Levin/InsiderDespite not being the higher-priced Performance version, the Model Y Long Range I sampled was plenty sporty. Range fit for road tripsThe Tesla Model Y. Tim Levin/InsiderTesla remains one of the range leaders in the US. Packed with techThe Tesla Model Y. Tim Levin/InsiderThe SUV's crisp and feature-packed touchscreen makes it a tech-lover's paradise. Effortless SuperchargingThe Tesla Model Y. Tim Levin/InsiderTesla's extensive and exclusive network of Supercharger stations makes it incredibly easy to charge when on the go.

☆ Ted Cruz was booed by a Texas audience when he said his plan to end school shootings is putting more police officers in schools
▼ + stars: | 2022-09-24 | by ( Katie Balevic | ) www.businessinsider.com time to read: +4 min

Ted Cruz was met with a booing audience when he said his plan to stop school shootings is putting more police in schools. Cruz commented on gun control efforts and the Uvalde school shooting at the Texas Tribune Festival. A responsive audience jeered at Cruz at some points, demanding age restrictions on assault weapons. "Two weeks ago, I stood on the Senate floor and tried to pass legislation I've introduced that would double the number of police officers in school," Cruz said to a crowd of boos. Cruz was met with more yells from the audience, this time specifically about the school shooting in Uvalde, Texas, in May that left 19 elementary schoolers and two teachers dead.

☆ Special interest groups representing Amazon to Uber oppose possible crypto regulation in California
▼ + stars: | 2022-09-23 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +8 min

Industry groups representing Amazon, Apple, Block, Coinbase, Genesis, Google, GrubHub, Lyft, Facebook/Meta, Uber, and other companies wrote to the state assembly opposing the law. Nine organizations representing consumers and advocating for economic justice wrote to the state assembly expressing support for the law. Several tech industry groups representing major companies and venture capital firms wrote in to oppose the law. Several organizations advocating for consumers and economic justice wrote to the state assembly expressing support for the law. Interest groups argued that regulation presents an "undue burden"on crypto companiesBlockchain Advocacy CoalitionThe Blockchain Advocacy Coalition wrote to Assemblymember Grayson on August 26.

☆ For Some Figma Fans, Adobe Deal Triggers Fears Over Innovation, Pricing
▼ + stars: | 2022-09-22 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

In many instances, users switched over to it from Adobe products for those reasons. The fear is “not necessarily that it’s going to get worse, it’s that it’s just not going to get better anymore,” Mr. McCarthy said. Since last week, the social media site has become a popular forum for Figma users to voice their worries. If Figma price points approached some of the existing price points for Adobe products, “our costs would go through the roof,” said Mr. McCarthy. Both Adobe and Figma said that the strong community element is part of what made Figma so valuable and attractive to Adobe and they hope it can remain.

☆ Prices are set to fall for homes, cars, and furniture. It's a sign the Fed may not need to risk a recession that punishes job seekers.
▼ + stars: | 2022-09-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some economists say that means the Federal Reserve doesn't need to squash jobs to cool inflation. Cooling prices might provide less reason for the Federal Reserve to continue its bold campaign to raise interest rates and slow the economy. It did just that on Wednesday, increasing interest rates by another 0.75% to make borrowing more expensive and squash demand. "Will raising interest rates lead to more oil, lower prices of oil, more food, lower prices of food?" "The real worry in my mind is," he added, "will they increase interest rates too high, too fast, too far?"

☆ Majority of Americans say Donald Trump and Joe Biden are both too old to serve as president: poll
▼ + stars: | 2022-09-22 | by ( Hanna Kang | ) www.businessinsider.com time to read: +4 min

The majority of American adults say Biden and Trump are too old to serve in public office right now, according to a new poll. But respondents were more likely to say Biden was too old to serve. Democrats are more likely than Republicans to say Rep. Liz Cheney is "the right age" to serve. But more American adults feel that Biden is too old to serve than Trump, according to a new Insider/Morning Consult poll. Thirty-nine percent of Republicans said she is "the right age" to serve compared to 55% of Democrats.

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