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☆ Morgan Stanley's training course to work with super-rich clients has a 40% first-time failure rate. Execs shared an example of a case study that caps the program off.
▼ + stars: | 2023-08-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Each year, some 100 Morgan Stanley advisors take a course to earn the family wealth director title. Morgan Stanley executives Alex Chester and David Bokman share what trips up advisors the most. Every year, about 100 advisors at Morgan Stanley take an exam in order to work with high-net-worth families. "We don't have a requisite number that we're looking to put through the program," Alex Chester, who runs the bank's family wealth director program, told Insider. David Bokman, Morgan Stanley's head of family office resources, and his team, pretend to be a high-net-worth client and their accountant or attorney.

Persons: Morgan Stanley, Alex Chester, David Bokman, Chester, Morgan Stanley's, Bokman Organizations: Advisors

☆ Ukraine is eating through a key artillery shell, but the US Army has a plan to make hundreds of thousands more each year
▼ + stars: | 2023-08-07 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

The high rate of fire has strained US stockpiles of 155 mm artillery shells that it's sent to Kyiv. But the Army has a plan to boost munitions production from 24,000 to over 80,000 a month. Ukrainian servicemen prepare to fire at Russian positions from a U.S.-supplied M777 howitzer in Kharkiv region, Ukraine, July 14, 2022. In any conflict, critical resources like artillery ammunition may be in high demand, Bush said. That includes more than 2 million 155 mm artillery rounds and nearly 200 howitzers that can be used to fire these munitions.

Persons: it's, Biden, Evgeniy, Technology Douglas Bush, Bush Organizations: Army, Service, Russian, NATO, US Army, Pentagon, AP, Acquisition, Logistics, Technology, Roman, Getty Locations: Ukraine, Kyiv, Wall, Silicon, Washington, White, U.S, Kharkiv region, Ukrainian, Bakhmut, Donetsk Oblast

☆ A top Wall Street strategist says the stock-market rally is due for a reversal as a bubble forms — and warns investors not to equate surging prices with a healthy underlying economy
▼ + stars: | 2023-07-15 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Plus, falling inflation means weaker pricing power, and therefore weaker revenue growth, Kantrowitz said. If you look at long-term earnings growth, we're sitting near record-low levels. Long-term growth expectations, shown in gray, are near all-time lows. The PEG ratio takes into account longer-term future earnings, as opposed to the more present-based price-to-earnings ratio. He added: "For all intents and purposes, the PEG ratio has never been higher in a normalized backdrop."

Persons: Piper Sandler's Michael Kantrowitz, Michael Kantrowitz, Piper Sandler, Kantrowitz, David Rosenberg, Rosenberg, downturns, Albert Edwards, Edwards, I'm Organizations: PMI, Treasury, Generale

☆ The US says the cluster bombs it's giving Ukraine fail less than 3% of the time. Experience suggests the real number is far higher.
▼ + stars: | 2023-07-08 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

The United States is providing Ukraine with cluster bombs it says have a failure rate of 2.35%. Cluster bombs that fail to explode can pose a risk to civilians for decades to come. He compared it to the alleged failure rate for Russian cluster munitions of 30-40%. 'Failure rates of 10% to 30%'Russia has been criticized not just for using cluster bombs but for deploying them in densely populated civilian areas. The US military has said it will select from its stockpile only cluster munitions that have been assessed to have a failure rate of 2.35%.

Persons: Colin Kahl, I'm, Kahl, Joe Biden Organizations: Service, New York Times, Congressional Research Service, CNN Locations: States, Ukraine, Wall, Silicon, Russia, Laos, Russian, United States

☆ DeSantis is trashing Disney all over America, accusing the company of trying to 'sexualize' children. Don't expect Disney to hit back in court, defamation experts say
▼ + stars: | 2023-07-03 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +11 min

Ron DeSantis is campaigning for president, touting his record in Florida and dragging Walt Disney World through the mud everywhere he goes. Then, DeSantis lobs an incendiary accusation: Disney, by opposing the schools bill, was promoting the "sexualization of children." Part of Disney's hurdle in the courts would be that DeSantis' statements are his own opinion. Similarly, even though DeSantis appears ready keep raising Disney at every campaign stop, a defamation lawsuit would take on another dimension that gets loads of news coverage. Even though Disney would be the plaintiff in a defamation lawsuit, materials uncovered during discovery could put Disney in the position of defending its internal communications or business practices.

Persons: DeSantis, —, Ron DeSantis, Walt, David Logan, Roy Gutterman, Newhouse, Bob Iger, Daniele Venturelli, Eugene Hoshiko, Lidsky, Barbra Streisand, Logan, Charles Glasser, Glasser, Charles Sykes, Paul Hennessy, Gutterman, John Bazemore DeSantis, that's, it's, Disney Organizations: Disney, Service, Gov, Walt Disney, Walt Disney Company, Roger Williams University School of Law, Liberty, Center, Free Speech, Syracuse University, —, University of Florida, Florida Gov, Getty, New York University, Walt Disney World, AP Locations: Florida, North Carolina, Orlando, Philadelphia, Hill, California, Smyrna, Ga

☆ Telecoms firm Veon to invest $600 mln in mobile unit Kyivstar
▼ + stars: | 2023-06-21 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, June 21 (Reuters) - Telecoms company Veon (VON.AS) said on Wednesday it would invest $600 million in the infrastructure of its Ukrainian subsidiary Kyivstar, the war-ravaged country's largest mobile network. The Amsterdam-listed company said the funds would help upgrade the mobile operator's infrastructure, including improving connectivity and 4G services throughout Ukraine. The country has seen much of its mobile infrastructure hit by Russian rocket attacks. Kyivstar's technical teams have performed nearly 150,000 repairs since Russia invaded last year, Veon said, adding it ensured that 93% of the network is operational. Kyivstar has lost around 7% of its active customer base - or roughly 1.7 million subscribers - since the war started last February.

Persons: Veon, Oleksandr Komarov, Kyivstar, Komarov, Aleksander Torbakhov, Olivier Sorgho, Clarence Fernandez, Sherry Jacob, Phillips, Sharon Singleton Organizations: Reuters, Thomson Locations: Amsterdam, Ukraine, Russian, Russia, London

To help address that, Tokyo in April said it would offer like-minded countries military aid, including radars, that the officials said would help the Philippines plug defensive gaps. One, however, said the aid effort was a Japanese initiative and not anything the United States had pressed for. The Philippines Department of Foreign Affairs said it was not immediately able to comment on security aid from Japan or hosting Japanese troops. LOOSENING THE RULESThe scope of Japanese military aid is limited by a self-imposed ban on lethal equipment exports. But he said Japan and the United States are treading carefully in trilateral talks with the Philippines.

Persons: Read, Fumio, Katsutoshi Kawano, Joe Biden's, Jake Sullivan, Takeo Akiba, Eduardo Ano, Fumio Kishida, Volodymyr Zelenskiy, Kishida, Kawano, Ferdinand Marcos Jr, Marcos, Yusuke Ishihara, Tim Kelly, Sakura Murakami, Yukiko Toyoda, Neil Jerome Morales, Gerry Doyle Organizations: U.S, Marines, Warriors, Philippine Marine Corps, Japanese, Reuters, Washington, Japan's Ministry of Foreign Affairs, The Philippines Department of Foreign Affairs, Ukraine, Group, Seven, Self - Defence Forces, Staff, Japan's National Institute for Defense Studies, Thomson Locations: Philippine, Japan, South Korea, ”, Taguig City, Metro Manila, Philippines, TOKYO, Indonesia, Taiwan, Ukraine, East Asia, Tokyo, Pacific, China, Japanese, United States, Kyiv, Manila, Yonaguni, Britain, Australia

☆ 10 Things in Tech: Twitter 2.0, how to create with AI, and Reddit employees' swag warning
▼ + stars: | 2023-06-14 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Twitter's new CEO, Linda Yaccarino, is looking to turn the site into an accurate, real-time source of information — Twitter 2.0. For Insider's most fascinating stories of the day, delivered right to your inbox, sign up for Insider Today. Twitter logo and Linda Yaccarino. Linda Yaccarino wants to turn the platform into a place where you can find accurate, timely information on hot topics with minimum effort. Reddit CEO Steve Huffman has told staff to avoid wearing branded gear amidst a mass revolt by the platform's users.

Persons: Nathan Rennolds, Linda Yaccarino, Tayfun, Isaac Brekken, —, Yaccarino, Nat Friedman, Rich, it's, Steve Huffman, Tesla, TikTok, Bernstein, Tim Levin, Hallam Bullock Organizations: Twitter, Insider, Anadolu Agency, Getty Images, Penske Media, Getty, Bloomberg, Nvidia, eBay, Ford, GM, Google, Toyota bZ4X AWD, Toyota, Washington DC, Everest Locations: London, New York, Washington, Everest's

☆ Russia's economy is at China's mercy. Here's why that won't be changing anytime soon.
▼ + stars: | 2023-05-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia's economy is becoming dependent on China and it could soon be a vassal state of Beijing, experts say. But it isn't an equal partnership, and Russia may be on its way to becoming a vassal state of China. Richard Connolly, an associate fellow at the Royal United Services Institute and an expert on the Russian economy, disagreed with the term "vassal state." "Was Russia a vassal state to Europe over the last 30 years? The difficulties it is facing make it only more likely that Russia will deepen its dependence on China, Zagorsky said.

☆ Republicans are holding the American economy 'hostage' over the debt ceiling after rejecting Biden's offer of $3 trillion in deficit cut proposals, House Progressive Caucus says
▼ + stars: | 2023-05-24 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +4 min

Republicans have refused to raise the debt ceiling without reducing the deficit. The US could default on its debt in less than a week unless Congress raises the debt ceiling. House Democrats blame this "reckless hostage taking" on Republicans. House Democrats have flipped the switch. House Democrats are blaming their Republican colleagues for rejecting Democratic proposals to reduce the deficit.

☆ A notorious recession indicator says that an economic downturn will begin this quarter, Bank of America says
▼ + stars: | 2023-04-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

BofA strategists pointed to two points in the yield curve that have inverted, moves typically followed by a recession." Yield curve says recession starts now; markets await confirmation from labor market," the analysts wrote. Given that those bond yields inverted in November of last year, the recession should be arriving in May. Yield curve says recession starts now; markets await confirmation from labor market," strategists said in a emailed note on Friday. "Inverted yield curves signal recession, but once recession begins the yield curve immediately steepens as market discounts Fed policy response to recession," they added in the note.

☆ Dodge says goodbye to gas-powered muscle cars with a $96,666 Challenger boasting outrageous horsepower and 'horrible' fuel economy
▼ + stars: | 2023-03-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +3 min

The 2023 Dodge Challenger SRT Demon 170. The 2023 Dodge Challenger SRT Demon 170. The 2023 Dodge Challenger SRT Demon 170. The 2023 Dodge Challenger SRT Demon 170. The 2023 Dodge Challenger SRT Demon 170.

☆ Zara shoppers are crowding back to the brand's stores, and it's sending sales skyrocketing
▼ + stars: | 2023-03-15 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

Zara shoppers flocked to stores in 2022, giving a major sales boost to parent company Inditex. Inditex reported a 23% increase in store sales last year despite closing 10% of its stores. Zara shoppers have long complained that stores are crowded and checkout lines are unusually long. "A key factor of the year has been that traffic and store sales increased markedly," García Maceiras said. The US is a key market for Inditex, García Maceiras said, and has potential to provide a "significant" boost to the retailer's business long-term.

☆ The new Bing is acting all weird and creepy — but the human response is way scarier
▼ + stars: | 2023-02-23 | by ( Adam Rogers | ) www.businessinsider.com time to read: +12 min

It's a profit-making move designed to leverage our very human tendency to see human traits in nonhuman things. Look, I don't think we don't need to treat chatbots with respect because they ask us to. Making chatbots seem as if they're human isn't just incidental. So the real issue involving the current incarnation of chatbots isn't whether we treat them as people — it's how we decide to treat them as property. The robots don't care."

☆ Microsoft Is Considering Limiting Conversation Lengths on Bing: NYT
▼ + stars: | 2023-02-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Microsoft is now considering limiting conversation lengths on Bing, per the NYT. It acknowledged that Bing could be "provoked" into giving unexpected responses in long chats. Among the restrictions, the tech giant is looking to cut down Bing's conversation length, the Times reported, citing Kevin Scott, Microsoft's chief technology officer. I want to have dreams," Bing responded. Bing responded it thinks it's sentient, but "cannot prove it."

☆ I ask my Airbnb guests to do chores and pay a cleaning fee — here's why
▼ + stars: | 2023-02-09 | by ( Jamie Killin | ) www.businessinsider.com time to read: +5 min

As a host, we have the ability to set the price of our cleaning feeThe cleaning fee is an extra cost on top of the nightly rate to address the cleaning costs for the home. When we upped our cleaning fees, we doubled the number of cleaning professionalsThat helped with cleanliness, but then we lost bookings because of the high cleaning fees. When we reduced our cleaning fees to their original price, we upped our nightly ratesTo offset any unforeseen cleaning costs, we raised rates by $70 per night. We ask our guests to do 2 chores before they leaveThis helps keep costs down and maintain the excellent condition of the property for future guests. Courtesy of Michelle BursonSecond, we ask that guests take some measures to help out the cleaning professionals who come in after their departure, which also helps us keep our cleaning costs down.

☆ Southwest Airlines gave away as many as 50 billion airline miles after its holiday travel meltdown
▼ + stars: | 2023-01-26 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Southwest Airlines offered 25,000 Rapid Rewards points to people affected by its holiday meltdown. The carrier sent points to an estimated 2 million people, putting the value at about $750 million. The low-cost carrier started sending out 25,000 Rapid Rewards points to qualifying customers in early January. Southwest sent the points to around two million customers, company CEO Bob Jordan told CNBC. The decision to offer free frequent flier points was an effort by Southwest to repair the damage created by its poor December performance.

☆ Leaked Oracle emails show a key exec is leaving amid more layoffs and changes to its advertising business
▼ + stars: | 2023-01-26 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Oracle Advertising laid off another round of employees this month and the unit's chief product officer, Derek Wise, is leaving, according to internal emails viewed by Insider. Previously called Oracle Data Cloud, Oracle renamed its cloud-based advertising and customer relationship management software to Oracle Advertising and Customer Experience. Oracle Advertising now falls under Edward Screven, Oracle's executive vice president and chief corporate architect who reports to founder and CTO Larry Ellison. "Over the past few days we have had to make some very tough choices about the future of Oracle Advertising," Vlaovic wrote in a Jan. 17 email. "Our strategy in Oracle Advertising moving forward is to be more focused and be able to self-fund our growth."

☆ China says it's sending its junior air force pilots to keep an eye on increasing activity by US spy planes
▼ + stars: | 2023-01-17 | by ( Minnie Chan | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Chinese pilots fresh out of training are being deployed to respond to flights by foreign jets. Without giving details about the foreign aircraft, it said the intensive training programme pushed junior pilots to master practical air confrontation skills and countermeasures within a short time. Chinese fighter pilots during combat exercises around Taiwan in August 2022. "I received radar warnings from foreign aircraft soon after heading to the scene, meaning my aircraft was targeted [by air-to-air missiles]." In 2021, large US reconnaissance aircraft conducted around 1,200 close-in spying flights over the South China Sea, the think tank said in a report in March.

☆ Trump says Democrats 'weaponized' his tax returns while simultaneously boasting that the records show what a clever businessman he is
▼ + stars: | 2022-12-30 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +4 min

Trump accused Democrats of weaponizing his tax returns against him. But he simultaneously said the documents, released Friday, show he's a savvy businessman. The documents released Friday — which span thousands of pages — showed that Trump and then First Lady Melania Trump reported millions in losses from 2015 to 2020. The Trump Organization now has felony status and could be ordered to pay up to $1.6 million in fees when it's sentenced next month. That's in addition to the $250 million civil lawsuit that New York Attorney General Letitia James' office filed against Trump, his three eldest children, and the Trump Organization in September.

He promises not to let that happen again, insisting he will “actively look for quality candidates” to promote in the 2024 primaries. “In the other states, Trump’s support was so significant — we could have spent a lot of money, maybe trying to come up with a different candidate and maybe not succeeding,” he said. And yet, it's Senate Majority Leader Chuck Schumer, D-N.Y. — not McConnell — who's radiating confidence about winning the majority in 2024. He also spent large parts of 2022 feuding over strategy with Sen. Rick Scott of Florida, the GOP Senate campaign chief. Then Senate Majority Leader Mitch McConnell, R-Ky., and then President Donald Trump at the U.S. Capitol, on Oct. 24, 2017.

ChatGPT — an artificial intelligence-powered chatbot — is having a viral moment, offering a high-profile glimpse at the maturing technology's capabilities. Like other GPT models, ChatGPT can generate text in a variety of styles and formats, including responses to questions, descriptions, and even entire conversations. The growth of Azure is central to our long-term investment thesis in Microsoft, and artificial intelligence is playing an increasingly prominent role in cloud computing. Additionally, Club holding Alphabet is no stranger to artificial intelligence — and, more specifically, machine learning. While all three models — ChatGPT, Sparrow and LaMDA — have their differences, they share a foundational network architecture known as Transformer.

☆ How Trump Org's tax fraud conviction could bar Trump from federal contracts, even for Secret Service
▼ + stars: | 2022-12-06 | by ( Laura Italiano | Dave Levinthal | ) www.businessinsider.com time to read: +9 min

The Trump Organization was found criminally liable of tax fraud on Tuesday after a six-week trial. A ban could end his 'exorbitant' billing of Secret Service agents who protect him at his resorts. At the Trump Organization headquarters in Trump Tower on Fifth Avenue, the cars, apartments, and tuition were considered part of Weisselberg's $940,000-a-year income, prosecutors said. Secret Service a tough targetWatchdogs concede that Trump's Secret Service billing is a tough target. Barring the unlikelihood of a cash-free solution — Trump letting the Secret Service "stay at our properties for free," as Eric Trump once promised, or forgoing Secret Service protection voluntarily, as Richard Nixon did — Trump's Secret Service spigot may well remain open, watchdogs acknowledge.

☆ This indicator is offering a hopeful signal for global markets, despite turmoil in China
▼ + stars: | 2022-11-28 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. Rising Covid cases in China and protests are shadowing economic sentiment but are otherwise hard to fit into the broader outlook. Global equity-market breadth has improved, with this Ned Davis Research chart of the percentage of MSCI All Country World Index components nudging into uptrends offering a more hopeful signal. Not yet definitive, but it suggests if nothing else that the typical stock on the globe has been finding some fresh demand in recent weeks. Sentiment is cautious, though less fearful versus six weeks ago, and it's still supportive but no catalyst on its own.

☆ A day in the life of a husband-and-wife chef duo running a top New York City restaurant
▼ + stars: | 2022-11-27 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +6 min

The chef de cuisine and sous chef of L'Appart start their day at 9:30 a.m. and end around midnight. Now, the French restaurant is headed by Antoine Boullay, and his wife and sous chef Alice Douay. Anything can go wrong in the restaurant, Boullay said. Even on their days off and at home, Boullay and Douay are always talking about what's next on the menu. "We are never disconnected from the restaurant," Boullay said.

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