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June 20 (Reuters) - Former Goldman Sachs banker Brijesh Goel's trial on insider trading charges drew to a close on Tuesday, with his attorney saying he was framed by his friend and a prosecutor saying Goel had lied to a New York jury. Prosecutors agreed not to charge him in exchange for cooperation in the case, including secretly recording his conversations with Goel. Assistant U.S. Attorney Joshua Naftalis said recordings of Goel urging Niranjan to delete messages about the trades prove his guilt. A Goldman Sachs spokesperson has called Goel's alleged conduct "egregious" and said the bank is cooperating with authorities. The case was one of several U.S. Attorney Damien Williams announced last summer as part of an insider trading crackdown.

Persons: Goldman Sachs, Brijesh Goel's, Goel, Akshay Niranjan, drugmaker, Goldman, Joshua Naftalis, Niranjan, Reed Brodsky, Brodsky, Apollo, Damien Williams, Jody Godoy, Sonali Paul Organizations: Spirit Airlines Inc, Barclays, Prosecutors, Goel ., U.S, Apollo Global Management, Court, Southern District of, Thomson Locations: New York, U.S, Southern District, Southern District of New York

☆ A trader says he got insider info from an ex-Goldman Sachs exec while playing drunk squash
▼ + stars: | 2023-06-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

A trader says he got tipsy and received some insider info from a buddy while playing squash. The details were revealed at a court hearing this week in an insider trading case against a former Goldman Sachs trader. A former Barclays trader testified against Brijesh Goel, who revealed info on a company that was about to be acquired. During the game, Goel told Niranjan about a company called Lumos Pharma and recommended buying options. According to Bloomberg, Goel says he's been set up by Niranjan, who he claims is looking to avoid punishment for insider trading.

Persons: Goldman Sachs, Brijesh Goel, —, Goldman, Akshay Niranjan, Goel, Niranjan, Lumos, he's, Bloomberg's Organizations: Barclays, Service, Lumos Pharma, Bloomberg Locations: Manhattan

MUMBAI/SINGAPORE, June 1 (Reuters) - KKR & Co (KKR.N) is moving a managing director from India to Singapore to lead the firm's Southeast Asia private equity business, two familiar with the matter sources told Reuters, bolstering its personnel in the region. Kumar will work with Ashish Shastry, a partner who heads Southeast Asia and co-heads the firm's Asia Pacific Private Equity business. The move also comes as KKR strengthens its presence in India and Southeast Asia. It raised $15 billion for its fourth Asia-Pacific focused private equity fund in 2021, one of the region's largest for the asset class. KKR has been investing in Southeast Asia since 2005, and opened its Singapore office in 2012.

Persons: Prashant Kumar, Kumar, Ashish Shastry, Vini, Gaurav Trehan, Trehan's, Akshay Tanna, Sriram, Kane Wu, Mark Potter Organizations: KKR, Co, Asia Pacific Private Equity, The Wharton School, Indian Institute of Technology, JB Chemicals, TPG Inc, TPG, Associations, Reuters, Healthcare, Thomson Locations: MUMBAI, SINGAPORE, India, Singapore, Asia, Mumbai, Southeast Asia, Pacific, Philippines

☆ Scientists expand search for signs of intelligent alien life
▼ + stars: | 2023-05-31 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Efforts to detect alien technological signatures previously have focused on a narrowband radio signal type concentrated in a limited frequency range or on single unusual transmissions. The search involves a frequency range covering a bit less than a tenth the width of an average FM radio station. "Aliens may possibly use such beacons for galaxy-wide communications, for which the core of the Milky Way is ideally placed. The scientists in the various monitoring efforts passively scan for signals of alien beings and do not actively send their own signals advertising our presence on Earth. "In my personal opinion, as a relatively young species in the grand cosmic scale, it would be prudent for us to focus on listening and investigating before embarking on deliberate transmissions," Gajjar said.

Persons: Akshay Suresh, Suresh, Vishal Gajjar, Gajjar, BLIPSS, Will Dunham, Rosalba O'Brien Organizations: Cornell University, Cornell, SETI Institute, SETI Institute and University of California, Thomson Locations: Berkeley, West Virginia

☆ Bank of England will need to increase inflation forecasts, Citi strategist says
▼ + stars: | 2023-05-10 | 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 EmailBank of England will need to increase inflation forecasts, Citi strategist saysAkshay Singal, EMEA head of short-term interest rate trading at Citi, says the Bank of England will need to further revise its inflation forecasts in order to restore market trust.

☆ OpenAI has its tentacles in hundreds of companies. Here's how it's making them more productive.
▼ + stars: | 2023-05-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

Developers are linking arms with OpenAI to access the large language models powering their apps. In doing so, OpenAI has its tentacles in hundreds of Silicon Valley startups. OpenAI's artificial intelligence technology is now baked into hundreds of apps, making it one of the key levers that help companies and their developers be more productive. The latest company utilizing the company's large language models is Superhuman, an email app with a cultish following. The feature came together so fast, according to Akshay Kothari, the third cofounder and chief operating officer, because Notion hadn't done the grunt work of training a large language model itself.

☆ ‘Polite Society’ Review: Pride and Plenty of Fists
▼ + stars: | 2023-04-27 | by ( Amy Nicholson | ) www.nytimes.com time to read: +2 min

“Polite Society,” a rollicking genre mash-up, is set in an enclave of well-to-do Muslim Londoners who play along with the comedy’s title until they get cranky. Then come the punches and neck chops, the bruises and broken glass, the ludicrous wire-fu that allows a matron in a brocade lehenga to fly through the air. Stubborn and snotty, Ria is so hellbent on breaking up the betrothal that she’s willing to spy and lie, claw and kick. She gets as good as she gives, ending more than one scene in a bloody, heaving heap. At the same time, the audience can appreciate what Ria is too childish to see: Lena’s joy that the neighborhood screw-up has landed its most eligible bachelor.

☆ Single-family rentals were stars of real estate during the pandemic. Now the sector faces its biggest challenges yet.
▼ + stars: | 2023-04-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

The SFR sector is facing fresh challenges this year, however, two KBRA analysts said. If you were an institutional investor looking to invest in real estate during the height of the pandemic, single-family rental properties were probably on your list. Home prices were rising quickly, and borrowing costs were low, underpinning the fundamentals of residential real estate. What's more, real estate research and investment-banking firm Zelman & Associates has estimated there's $110 billion in investor capital waiting to be spent on homes. Labor and supply costs have risen consistently, and massive home price appreciation is resulting in higher real estate taxes.

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☆ Citi: Central bank policy divergence expected
▼ + stars: | 2023-02-13 | 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 EmailCiti: Central bank policy divergence expectedAkshay Singal, EMEA head of short-term interest rate trading at Citi, discusses the market response to recent ECB rate hikes, and his outlook for central bank policy in 2023.

After Russia slashed piped supply to Europe following its invasion of Ukraine, gas prices hit new highs and Europe bought record volumes of LNG. Prices for both Europe's benchmark gas and Asian spot LNG hit milestone highs. LONG-TERM DEALS SOUGHTIndustry executives and governments have touted gas as a crucial transition fuel while switching to renewable energy sources, but last year's high prices had kept many buyers priced out. So the need is to have long-term contracts, a good mix of long-term, short-term and medium-term contracts," said Akshay Kumar Singh, CEO of India's Petronet LNG (PLNG.NS). "Long-term contracts and the increase in domestic (gas) production during this crisis have definitely helped our country," he said.

The subvariant of omicron, named XBB.1.5, has raised concerns about another potential wave of Covid cases following the busy holiday travel season. The CDC projected Friday that about 40% of confirmed U.S. Covid cases are caused by the XBB.1.5 strain, up from 20% a week ago. There’s no indication it causes more severe illness than any other omicron virus, Dr. Barbara Mahon, director of CDC’s Coronavirus and Other Respiratory Viruses Division, told NBC News. The XBB.1.5 is a relative of the omicron XBB variant, which is a recombinant of the omicron BA.2.10.1 and BA.2.75 subvariants. Yet, only 37.5% of that age group has received the most recent omicron booster, according to the most recent CDC data.

With the busy holiday travel season approaching and a comparatively low percentage of adults vaccinated for the flu, that leaves millions at potential risk for severe complications. Bacterial pneumonia may develop when the flu virus spreads to the lower respiratory tract, leading to breathing difficulties that may require supplemental oxygen. "Unfortunately, we do sometimes see young healthy people presenting with really severe pneumonia as well," Grein said. A recent CDC survey found that only half of all pregnant women got their flu vaccines as recommended, leaving many at risk for severe disease from the flu. The current vaccine protects against four strains: two influenza A strains and two influenza B strains.

☆ Britain's energy watchdog proposes power price controls
▼ + stars: | 2022-11-30 | by ( Bozorgmehr Sharafedin | ) www.reuters.com time to read: +2 min

SummarySummary Companies Price controls begin on April 1Proposals are subject to statutory consultationShould increase use of renewable powerGreen energy would be backed up by nuclear, hydrogenLONDON, Nov 30 (Reuters) - Britain’s energy watchdog has proposed price controls for electricity distribution network companies for the next five years that it said would drive investment in homegrown supplies and deliver cheaper power without increasing consumer bills. The controls, which will run from April 1, 2023, to 2028, require six electricity distribution network companies to focus investment towards "more homegrown, cleaner, cheaper, and secure sources of energy". Ofgem said it expected the proposal to increase the use of renewables, including wind and solar energy, backed up by expanded nuclear and hydrogen-generated energy. Known as RIIO-ED2 (Revenue = Incentives + Innovation + Outputs for electricity distribution), the proposal sets the level of investment Ofgem allows local electricity distribution networks to make in the five-year period. The total allowed expenditure for the six companies was around 22 billion pounds, Ofgem said.

☆ Our list of top leaders transforming tech shows how transparency and productivity are more important than ever
▼ + stars: | 2022-11-15 | by ( Katie Malone | ) www.businessinsider.com time to read: +6 min

Tech companies that proactively reacted to consumer and enterprise demands came out ahead this year. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. The emerging technology leaders featured on Insider's annual "100 People Transforming Business" list have stepped up to do just that. Virtual-whiteboard platforms are seen as an essential workplace tool that some predict are set to stay a popular tool in business tech. Tech transparency becomes a talking point across platformsAt home, this year showed that tech consumers wanted more transparency.

Industry data show business travellers are taking longer trips than before COVID-19, leaving airlines adjusting flight plans. Qantas Airways Ltd (QAN.AX) and Virgin Australia say higher airfares have so far offset any revenue impact from fewer business trips. Ajit Chouhan, a Texas-based human resources executive, used to go on one-day business trips to San Francisco at least once a month before the pandemic. "If I'm on a business trip, do I want to stay an extra day if my partner's at home?" One-day journeys accounted for around 4% of domestic business trips globally in 2019, according to CWT data, versus 3% now.

It’s the first time in 50 years that a federal grant has been given to study a psychedelic drug as a possible treatment. The study, a randomized controlled trial expected to start later this year, will investigate whether psilocybin, the psychedelic compound found in “magic mushrooms,” can help people quit smoking tobacco. Hopkins researchers will lead the trial, which will be done in collaboration with researchers at NYU Langone Health and the University of Alabama at Birmingham. In a study published in August, researchers found that psilocybin helped drinkers reduce alcohol cravings. Typically in studies using psychedelics, participants receive the drug during a monitored session with a therapist, which can last hours.

Flu cases are already rising in parts of the U.S., according to the Centers for Disease Control and Prevention. The convergence of viruses is hitting health care systems as they're forced to reckon with staffing shortages that worsened during the pandemic. Staffing deficits mean there is little wiggle room to accommodate any additional surges of patients, whether they're sick with Covid, flu or other illness. But as the cold weather sets in and people increasingly gather indoors, Covid cases are expected to rise. The vast majority of Covid cases circulating now are an omicron subvariant, BA.5.

British Pound Sterling and U.S. Dollar notes are seen in this June 22, 2017 illustration photo. Deutsche Bank's Currency Volatility Index – the historical volatility index of the major G7 currencies - jumped to a two-and-a-half year high of 13.55 on Monday. While Sterling and the yen have fared extremely poorly against the dollar, the greenback's meteoric rise has spared no major currency. Reuters GraphicsMoves have surprised long-time currency traders and investors. "Our team is working around the clock from multiple global locations," said Kamboj, adding he is not trading sterling because the pound's direction now depends entirely on how the Bank of England reacts.

Bogenschutz and his team specifically set out to test whether or not psilocybin, in addition to sessions of therapy, could cut cravings and help people with alcohol use disorder stay sober. Earlier research from institutions around the world has indicated that psilocybin has the potential to treat a variety of addiction disorders, including alcohol use disorder, opioid use disorder and addiction to smoking. Jon KostasWhen he began the psilocybin trial at age 25, he was consuming almost 23 drinks in a single bender. At the beginning of the first dose sessions, participants were given eye masks and headphones that played classical music. Bogenschutz said the rule of thumb with alcohol addiction treatment is that about one-third of patients who seek treatment will get better.

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