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☆ I'm a millennial without a college degree. I have 10 years of work experience, but I'm thinking about going back to school because it seems like the only way to get ahead.
▼ + stars: | 2023-06-17 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Gifford said she thinks it's time to go back to college so she can pursue a job in social work. I grew up in a small town in Arkansas called Quitman, and I went to Arkansas State University right out of high school. In the almost 10 years I've worked here I've never worried about layoffs, but I'm weighing other options now. When he's finished, the plan is for me to return to school for a degree in social work. My advice to someone entering their 20s would be to stay out of debt, don't get credit cards, don't get a new car, and work while you have no children and lots of energy.

Persons: Emily Gifford, Gifford, doesn't, —, I've, I'm, he's, that's Organizations: Service, Arkansas State University Locations: Little Rock , Arkansas, Arkansas, Quitman

☆ Japan's Nikkei closes at 33-year high; firm Wall Street lifts appetite
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

The Nikkei index (.N225) jumped 2.2% to end at 32,217.43, its highest close since July 1990 and posted its biggest daily gain since Jan. 18. "The market was supported by the gains in the U.S. market on Friday. That helped keep the money flowing into risk assets in Japan," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities. Hence, when U.S. shares rise, there is no reason for not buying Japanese stocks, Kamada added. All but one of the Tokyo Stock Exchange's 33-sector sub-indexes rose, with machineries (.IMCHN.T) rising 3.12% to lead the gains.

Persons: Shigetoshi Kamada, Kamada, Fanuc, Junko Fujita, Janane Venkatraman, Sohini Organizations: Nikkei, Bank of Japan, Tachibana Securities, The Bank of, Reserve, Tokyo, Screen Holdings, Tokyo Stock, Utilities, Tokyo Electric Power Holdings, Thomson Locations: TOKYO, U.S, Japan, The Bank of Japan, Washington, Philadelphia

In April and May, domestic outflows totalled around 2 trillion yen ($14.81 billion) for individual investors and over 2.2 trillion yen for Japanese institutions. While foreign investors are excited about the prospect of a new era of growth in corporate Japan, domestic investors are eager to catch any profits they can, sticking to a strategy born out of decades of fleeting rallies. Reuters Graphics"It has been a trend that retail investors sell stocks at a peak. This time short-term investors sold stocks as they were cautious about the sharp gains of the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. "Long-term investors also sold stocks because they were saddled with losses after the Nikkei made a range-bound move for a long time."

Persons: Shoichi Arisawa, Masayuki Kubota, Kubota, Warren Buffet, Ohara, Ankur Banerjee, Junko Fujita, Rocky Swift, Gaurav Dogra, Tom Westbrook, Sam Holmes Organizations: Nikkei, Reuters, IwaiCosmo Securities, Rakuten Securities, Tokyo Stock, Reuters Graphics, Bank of Japan, Gaurav, Thomson Locations: TOKYO, SINGAPORE, Japan, Tokyo, Singapore, Bengaluru

☆ AI Technology Like ChatGPT Will Reshape Software Coding Jobs Forever
▼ + stars: | 2023-04-26 | by ( Aki Ito | ) www.businessinsider.com time to read: +14 min

Their conclusion: 19% of workers hold jobs in which at least half their tasks could be completed by AI. Researchers at Microsoft and its subsidiary GitHub recently divided software developers into two groups — one with access to an AI coding assistant, and another without. Amazon has built its own AI coding assistant, CodeWhisperer, and is encouraging its engineers to use it. Another argument from the optimists: Even as AI takes over the bulk of coding, human coders will find new ways to make themselves useful by focusing on what AI can't do. So maybe, long term, human coders will survive in some new, as-yet-to-be-determined role.

REUTERS/Ken CedenoWASHINGTON, April 12 (Reuters) - Zambia could lose gains achieved so far from macroeconomic reforms if its ongoing debt restructuring is further delayed, Treasury Secretary Felix Nkulukusa said on Wednesday. The next IMF payout to Zambia from the loan is contingent upon its bilateral creditors reaching an agreement on the long-delayed debt restructuring. The country recently completed the first review of the programme, and the next one is expected in about three months. Ceyla Pazarbasioglu, director of the IMF's Strategy Policy and Review Department, was more optimistic about Zambia's debt restructuring during the panel. The IMF official said that creditors have asked to share and exchange information "sooner" during debt restructuring talks, and added that the Washington-based lender is willing to do so.

☆ UK economy set for smaller hit in 2023 than previously feared - IMF
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

British gross domestic product will contract by 0.3% in 2023, the IMF said in its latest set of global forecasts, a smaller shrinkage than the 0.6% contraction the Fund predicted in January. Britain is no longer the only Group of Seven economy set for a fall in GDP this year as Germany is now expected to shrink by 0.1%, the IMF forecasts showed. But its contraction this year is set to be the biggest among the Group of 20 economies, according to the IMF's forecasts. After narrowly avoiding recession in 2022, Britain's economy has shown some signs of resilience in early 2023. The IMF said it expected Britain's economy would grow by 1.0% in 2024, weaker than most other G7 economies with the exception of Italy while matching Japan's expected growth rate.

☆ Credit Suisse obtains key approval to launch wealth business in China
▼ + stars: | 2023-03-08 | by ( Selena Li | ) www.reuters.com time to read: +2 min

HONG KONG, March 8 (Reuters) - Credit Suisse (CSGN.S) has received regulatory green light from China after years of waiting to launch a full-fledged wealth management business in the world's second-biggest economy, according to a company memo reviewed by Reuters. The expansion comes after the lender suffered worse-than-expected global wealth outflows of 92.7 billion Swiss francs ($98.29 billion) in the fourth quarter. Credit Suisse Securities (China), the company's China joint venture, recently obtained an investment consultancy license, which allows it to create and distribute equity research products onshore and to engage in investment advisory services, according to the memo. Credit Suisse "plans to double the number of relationship managers in China in 2023," said Benjamin Cavalli, the company's head of wealth management for Asia Pacific, without providing details on how many relationship managers it currently has. Total assets at Credit Suisse's wealth division fell to 540.5 billion Swiss francs by the end of last year from 742.6 billion francs a year earlier.

☆ Putin has a secret brood of children being raised in luxury comparable to Russian tsars, report claims
▼ + stars: | 2023-03-03 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Putin has several young children with his rumored girlfriend, Alina Kabaeva, Proekt reported. He built a 13,000-square-foot mansion for them close to his main residence in Valdai, Proekt said. It is unclear how many children the couple share exactly, though Proekt reported they are all under the age of 18. In the summers of 2021, and 2022, a small karting track was set also up for the children, the outlet said. Putin's other childrenOver the years, Putin has fought hard to keep his children, and rumored girlfriends, from the spotlight.

☆ Thomas H. Lee, pioneer of leveraged buyouts, is dead at 78
▼ + stars: | 2023-02-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Thomas H. Lee, a private equity financier who pioneered the use of leveraged buyouts that helped to reshape corporate America, has passed away, according to a notice from his former firm that still bears his name. “We are profoundly saddened by the unexpected passing of our good friend and former partner, Thomas H. Lee,” said THL in a statement. “Tom was an iconic figure in private equity. One of Thomas Lee’s most famous, and lucrative, leveraged buyouts was his purchase of Snapple for $135 million in 1992. Lee left THL in 2006 and started another private equity firm, Lee Equity Partners.

☆ Cyprus probes washed up dead whales, earthquake link possible
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

NICOSIA, Feb 10 (Reuters) - A number of whales have washed up dead on the northern shores of Cyprus, authorities said on Friday, possibly affected by the massive earthquakes in neighbouring Turkey and Syria this week. Six beaked whales were found dead on Friday, while a pod of four were found beached on Thursday, the Cyprus department of fisheries and marine research said. Three of the four from Thursday were guided back to sea, while the fourth died, it said in a statement. It was unclear if the dead pod found on Friday included those whales from Thursday that had been returned to the sea, it said. Monday's mega earthquakes in Turkey and Syria, which have killed tens of thousands of people, were also felt on the east Mediterranean island.

☆ Huawei turns to patents for a lifeline — including those in the U.S.
▼ + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2022, Huawei announced it signed more than 20 new or extended licensing agreements for its patents. But the sheer number of patents filed meant Huawei ranked fourth last year by the number of patent grants in the U.S., IFI said. For Huawei, licensing its patents to other companies has the potential to claw back a bit of that revenue. Huawei did not break down specific figures, and only said it met its intellectual property revenue expectations for 2021. "I don't think they had a choice in terms of sort of boosting their licensing revenue."

☆ The largest hedge fund in the world just named a 37-year-old woman as a co-CIO. Meet the top 11 execs leading Bridgewater into its new era.
▼ + stars: | 2023-02-02 | by ( Alyson Velati | Michelle Abrego | ) www.businessinsider.com time to read: +12 min

Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.

☆ Emerging markets growth slowdown bottomed out in 2022, but risks remain -IMF
▼ + stars: | 2023-01-31 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

NEW YORK, Jan 30 (Reuters) - The International Monetary Fund on Monday raised its output growth estimate on emerging markets for this year, with projections now showing the economic slowdown in the region may have bottomed out in 2022, on the back of China reopening, a resilient India and unexpected growth in Russia. Inflation, a recent hamper on growth, is seen high although continuing to slow this year and next. Russia, on the other hand, has seen a 2.6 percentage point increase in the 2023 growth projection, which translates to a view of a 0.3% expansion this year. Brazil and Mexico, Latin America's largest economies, were both upwardly revised in their 2023 economic growth by 0.2 and 0.5 percentage point, respectively. For Latam and the Caribbean, the overall increase in the growth estimate was just 0.1 percentage point, to 1.8%.

☆ IMF slashes UK growth outlook, adding pressure on finance minister Hunt
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Henry NichollsLONDON, Jan 31 (Reuters) - Britain is the only Group of Seven nation to have suffered a cut to its 2023 economic growth outlook in International Monetary Fund forecasts published on Tuesday, adding to pressure on finance minister Jeremy Hunt to come up with a growth plan. Britain's flagging economy now looks set to shrink by 0.6% this year, a sharp downgrade from previously expected growth of 0.3% in the IMF's last forecast in October. All other G7 economies are predicted to grow this year, mostly at a stronger pace than the IMF forecast three months ago. Responding to the IMF report, Hunt said nearly all advanced economies were facing headwinds, and that past forecasts from a range of bodies including the IMF had proven too gloomy about Britain's prospects. Hunt is due to announce measures that he hopes will speed up growth in a budget statement on March 15.

☆ The IMF thinks we may actually skirt a recession. It is also surprisingly upbeat about Russia's economy.
▼ + stars: | 2023-01-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The IMF expects the world economy to grow 2.9% in 2023 — which is better than its October forecast of 2.7%. The IMF also expects Russia's economy to grow 0.3% — a reversal from its contraction of 2.2% in 2022. The IMF expects Russia's economy to expand 0.3% in 2023 and 2.1% in 2024 — a stark reversal from an expected 2.2% contraction in 2022. The IMF had predicted in October that Russia's economy would contract by 3.4% in 2022. The fund told Reuters that Russia's economy was supported by a "fairly high" export revenue in 2022 and robust fiscal stimulus in part from military spending.

☆ Exclusive: India economic survey likely to peg 2023-24 growth at slowest in three years - source
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

MUMBAI, Jan 30 (Reuters) - India's annual pre-budget economic survey is likely to peg GDP growth at 6-6.8% for 2023-24, according to a source. Nominal growth is likely to be forecast at 11% for 2023-24, the source added. An economic survey by Chief Economic Adviser V. Anantha Nageswaran will be tabled in the parliament on Tuesday by Finance Minister Nirmala Sitharaman, a day before she presents the budget for the next fiscal year. The Economic Survey is the government's review of how the economy fared in the past year. The government's economic research department will also likely point to improvement in the financial health of the Indian banking sector as a factor aiding economic growth.

☆ IMF hikes global growth forecast as inflation cools and household spending surprises
▼ + stars: | 2023-01-30 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia's invasion of Ukraine would likely still weigh on activity. In its latest economic update, the IMF said the global economy will grow 2.9% this year — which represents a 0.2 percentage point improvement from its previous forecast in October. However, that number would still mean a fall from an expansion of 3.4% in 2022. "Growth will remain weak by historical standards, as the fight against inflation and Russia's war in Ukraine weigh on activity," Pierre-Olivier Gourinchas, director of the research department at the IMF, said in a blog post. The outlook turned more positive on the global economy due to better-than-expected domestic factors in several countries, such as the United States.

☆ How much money you have to make to be in the top 1% of earners in 10 US states
▼ + stars: | 2023-01-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Households need an annual gross income of $597,815 to be considered the highest-earning 1% in the US. The threshold to make the 1% of top earners varies drastically by state. Connecticut, Massachusetts, and New York lead the list of the highest thresholds. The study found that eight of the 10 states with the highest 1% thresholds are located along the eastern and western coasts. Here's a roundup of the states with the highest and lowest income thresholds, respectively, needed to be the cream of the crop.

☆ Global jobs growth will halve in challenging 2023: ILO
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

"The slowdown in global employment growth means that we don't expect the losses incurred during the COVID-19 crisis to be recovered before 2025," said Richard Samans, Director of the ILO's Research Department and coordinator of its newly published report. Progress in reducing the number of informal jobs in the world is also likely to be reversed in the coming years, the ILO said. The global jobs forecast is lower than the previous ILO estimate of 1.5% growth for 2023. "The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours," ILO said. The situation could worsen further if the global economy slows down, ILO added.

☆ Goldman staff brace as global jobs cull begins
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +2 min

LONDON/HONG KONG, Jan 11 (Reuters) - Staff at Goldman Sachs (GS.N) are bracing for news on whether they will keep their jobs on Wednesday, as the U.S. investment bank begins a sweeping cost-cutting drive that could see its 49,000-strong global workforce shrink by thousands. About 8 staff were also laid off in Goldman's research department in Hong Kong, the source added, with layoffs ongoing in the investment bank and other divisions. A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange, April 16, 2012. Goldman had 49,100 employees at the end of the third quarter, after adding significant numbers of staff during the coronavirus pandemic. Reporting By Sinead Cruise and Iain Withers, Selena Li in Hong Kong and Scott Murdoch in Sydney;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

It is likely to affect most of the bank's major divisions, with its investment banking arm facing the deepest cuts, a source told Reuters this month. "We know this is a difficult time for people leaving the firm," a Goldman Sachs statement on Wednesday said. Last year was challenging across groups including credit, equities, and investment banking broadly, said Paul Sorbera, president of Wall Street recruitment firm Alliance Consulting. [1/3] A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange, April 16, 2012. Shares of Goldman Sachs have partially recovered from a 10% fall last year.

☆ Wells Fargo issues some top tactical investing ideas for the first quarter
▼ + stars: | 2023-01-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

As the first quarter of 2023 kicks off, Wells Fargo has its eye on what it calls stocks that offer tactical trading opportunities. Wells Fargo analyst Daniel Politzer upgraded Wynn to overweight from equal weight on Monday . Merck also made the Wells Fargo list, with the firm setting a price target of $125. And Wells Fargo has a $50 price target for Dynatrace , which implies 30% over Tuesday's close. Wells Fargo believes the software company has the "only enterprise-grade cloud platform capable of supporting modern workloads in a hybrid environment."

☆ How the Federal Reserve affected 2022's stock market
▼ + stars: | 2022-12-22 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

The Federal Reserve, over its more than centurylong existence, has emerged as a leading force in the stock market. The guidance often hints at the expected path of the federal funds interest rate target in advance of a policy change. That has many people on Wall Street waiting for the central bank to pivot, and bring interest rates back down. Nonetheless, many experts believe that central bank policy is only one piece of the puzzle. Watch the video above to learn how the Fed shaped 2022's stock market.

☆ Listen up: Headphones are getting really weird
▼ + stars: | 2022-12-18 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

Bone conduction headphones, which rely on sound being transmitted through vibrations on the user’s skull, are gaining popularity. Bone conduction headphones ‘having a moment’Bone conduction headphones, in particular, are “having a moment,” Konig said. Rather than sitting inside or on top of the ear canal, bone conduction headphones rest in front of the ear, leaving it uncovered. Beyond consumer appeal, Cozza believes bone conduction headphones could be used by frontline workers who could listen to communications and instruction and at the same time be aware of sounds around them. But some audiophiles say the sound quality on bone conduction headphones and open earbuds is less than stellar.

☆ Forget smartwatches, consumers are buying up these quirky, alternative wearable devices
▼ + stars: | 2022-12-03 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

People turned to activity trackers, smartwatches and other devices to keep tabs on their steps, vital statistics and more. Rather than sitting inside or on top of the ear canal, bone conduction headphones rest in front of the ear, leaving it uncovered. Bone conduction headphones by Shokz. Shokz ($125) pioneered bone conduction headphones, but the market has since expanded with other brands offering similar designs. But some audiophiles say the sound quality on bone conduction headphones and open earbuds is less than stellar.

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