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☆ Bank runs have the crypto industry on high alert. 3 experts explain why the latest batch is especially worrisome — and what comes next.
▼ + stars: | 2023-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

Only a decade ago, bank runs happened at a much slower pace. The era of digital bank runsOne thing the past few weeks has made clear is that bank runs now unfold differently, especially for smaller banks that service specialized sectors. "Bank runs are evolving into a different and much more dangerous beast because they happen faster," Baker said. By comparison, on March 9, SVB lost $42 billion in a day — and it was a smaller bank, Baker added. Long said she warned regulators again after FTX collapsed that banks servicing the crypto sector face the danger of bank runs.

☆ Amazon aggregator Boosted Commerce lays off around 20% of staff in another round of job cuts, the latest blow to rollup companies
▼ + stars: | 2023-02-08 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +2 min

Amazon aggregator Boosted Commerce has laid off around 20% of its staff, Insider has learned. A spokesperson for Boosted Commerce confirmed to Insider that the layoffs occurred, and affected 20% of its US-based, full-time staff. They also told Insider that the company is still currently hiring for roles in these more focused departments. The former employee also said Boosted Commerce was "struggling" as a result of "bad acquisitions and the state of the overall economy." Boosted Commerce has raised $380 million in outside funding to date, according to Marketplace Pulse.

After finding Sayfullo Saipov guilty of committing murder with the goal of joining the militant group Islamic State, also known as ISIS, the Manhattan jury will return on Feb. 6 to consider whether the death penalty is appropriate punishment. The only point of contention between prosecutors and Saipov's lawyers was whether the defendant carried out the attack in order to join Islamic State, which the United States brands a terrorist organization. These included murder and attempted murder to gain entrance to Islamic State, providing material support to a terrorist organization, and damage or destruction of a motor vehicle. The U.S. Department of Justice said in September that it intends to seek the death penalty for Saipov, despite a moratorium on federal executions since July 2021 as the department reviews the practice. Reporting by Luc Cohen in New York; Editing by Leslie Adler, Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ 'Sextortion' attacks on the rich and famous are on the rise. Here's how their lawyers discreetly fight back.
▼ + stars: | 2022-12-25 | by ( Laura Italiano | ) www.businessinsider.com time to read: +15 min

Celebrities, sports stars, CEOs have never been more at risk of 'sextortion' attacks, lawyers say. "I'm going to blow up you and your business," the screen read. "If you can't get me money," she texted the terrified CEO, according to records reviewed by Insider, "I'm going to fuck up your whole company." East Coast, West CoastHigh-end sextortions like the case of that Manhattan CEO, one of Saland and Weisberg's recent clients, are spawning a growing legal practice. It's different in ManhattanIn contrast, Manhattan sextortion clients tend to hail not from the A-list, but from the city's vast pool of the anonymously wealthy.

☆ Silicon Valley is coming for your gut biome
▼ + stars: | 2022-12-23 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

SAN FRANCISCO — Cryptocurrency hasn’t worked out so well for tech investors. As a consumer product, supplements are associated more with the Kardashians or Joe Rogan than with Silicon Valley. Roelof Botha, the managing partner of Sequoia Capital, one of the largest venture capital firms in the world, is among those buying in. He said there’s a “societal reawakening” about the complex biome of the human gut where hundreds of species of bacteria live. She co-wrote a review of the science this year, and said future probiotic supplements have promise compared to supplements that have been available for decades.

New legislation working its way through Congress could improve retirement security for U.S. workers. The plan is part of a stopgap spending bill, and it includes a provision that would automatically enroll eligible employees into their company's retirement plan. Under the new legislation, employers could consider a worker's student loan payment to be the equivalent of a 401(k) contribution and match it accordingly. Finally, the legislation offers a 100% tax credit to businesses with 50 employees or fewer for the cost of maintaining a 401(k) plan. "It’s a bill that helps all income levels and all different types of workers and retirees," Richman, of the Insured Retirement Institute, said.

☆ 'Secure 2.0' is part of the $1.7 trillion spending bill, putting it on track to usher in retirement system improvements
▼ + stars: | 2022-12-20 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Another round of changes to the U.S. retirement system appears to be on its way. A collection of retirement-related provisions known as "Secure 2.0" is included in a 4,100-page, $1.7 trillion spending bill — which would fund the government for the 2023 fiscal year — that was unveiled Monday night. "I don't believe there will be further changes to [Secure 2.0]." More from Personal Finance:How to prevent package theft on your doorstepUsed-car prices are down 3.3% from a year agoThe 10 best metro areas for first-time homebuyersThe Secure 2.0 provisions are intended to build on improvements to the retirement system that were implemented under the 2019 Secure Act. Those changes included giving part-time workers better access to retirement benefits and increasing the age when required minimum distributions, or RMDs, from certain retirement accounts must start — to age 72 from 70½.

☆ For retirement-system changes proposed in Congress via 'Secure 2.0,' December is do-or-die time
▼ + stars: | 2022-11-21 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

While no specific agenda has been released yet, supporters of the retirement-change proposals collectively called "Secure 2.0" are hopeful that it will be among the pieces of legislation that make it across the finish line. Increasing the extra amounts — so-called catch-up contributions — that individuals age 50 or older can put in their retirement accounts. watch nowThis year, the House passed its version of Secure 2.0, the Securing a Strong Retirement Act (H.R.2954), in late March with a bipartisan vote of 414-5. Secure 2.0 could be attached to a must-pass billAssuming that Secure 2.0 wouldn't get floor time for a vote on its own, supporters are hoping legislators will attach it to a must-pass bill this year. In September, Congress passed a stopgap measure to fund the government's 2023 fiscal year, which started Oct. 1, through Dec. 16.

But prisoner advocates say this misstep is indicative of the larger failures of a law that has given federal inmates hope they could qualify for early release. But the new computer app was viewed as a positive development in ensuring inmates' credits don't fall through the cracks. "I hope that what happened with the rollout was a 'glitch,' not a feature of the new autocalculate app. "Nearly four years after the FSA was signed into law, BOP still lacks a formal program statement" on time credits. "There's a lot of tensions inside of prisons because they're wanting to go home and they don't know what's happening."

☆ Congress is still considering changes to the retirement system, including catch-up contributions
▼ + stars: | 2022-10-10 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +8 min

Tom Brenner | ReutersThere's still a decent chance that changes to the U.S. retirement system will be enacted before the end of the year. "There's still tremendous bipartisan interest in doing another retirement security bill," said Paul Richman, chief government and political affairs officer for the Insured Retirement Institute. Upping the catch-up contribution anteNosystem Images | E+ | Getty ImagesCurrently, retirement savers age 50 or older can make so-called catch-up contributions to their retirement savings. The House bill would expand the 401(k) catch-up to $10,000 for individuals who are age 62, 63 or 64. The Senate proposal differs by allowing people from age 60 through age 63 make the extra $10,000 catch-up contribution.

☆ What’s that bag of white stuff? Some Uber drivers worry they’re drug mules
▼ + stars: | 2022-09-26 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +15 min

And a sheriff’s office in Tampa sent a crystalized substance to a Florida state lab for testing after an Uber Connect driver turned it over in April. Uber said that using its services for illegal activity is expressly prohibited, and that it takes reports of drug deliveries via Uber Connect very seriously. Some Uber Connect drivers have gone to the police with suspicions about packages they are assigned to deliver. “You’re almost certainly getting arrested in that situation.”Richman said it’s difficult to generalize about how much trouble an Uber Connect driver could get in. Uber said it was always looking for ways to improve Uber Connect, and drivers said they have several suggestions for changes.

☆ Steve Bannon surrenders in Manhattan 'We Build the Wall' donor-scam case
▼ + stars: | 2022-09-08 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

Last time Bannon was busted in the "We Build the Wall" donor-scam case, it was aboard a $28 million yacht. And unlike after his 2020 arrest, Trump can't throw Bannon a life preserver in the form of a federal pardon. After he's booked, "they'll probably keep him in the DA-squad office, where they fingerprinted him, or the DA-Investigators' office," Saland said. There, he'll wait for his afternoon court appearance — quite possibly in a "1970s-era chair," Saland said. But it's certainly not going to be anything like a $28 million yacht."

Avocatul Murray Richman a declarat presei americane că nu știe dacă infarctul suferit de DMX a venit în urma unei supradoze de droguri. El a fost internat într-un spital din New York, vineri dimineața. Pe numele său real Earl Simmons, rapperul american a avut multe probleme cu substanțele interzise și a fost internat de câteva ori în clinici de reabilitare. În 2016, el a mai trecut printr-un eveniment similar, când a încetat să mai respire și a fost resuscitat într-o parcare, citează Digi24. De asemenea, a fost condamnat în repetate rânduri pentru fapte precum posesie de droguri și de arme, cruzime împotriva animalelor, conducere periculoasă a unui vehicul.

Persons: Murray Richman, El, DMX, Earl Simmons, Jay, Eve, Instanța Organizations: american Locations: New York

☆ How these MBA grads used their education — from opening a clothing store to working at a nonprofit
▼ + stars: | 2020-08-04 | by ( Alana Pockros | ) www.businessinsider.com time to read: +14 min

Financial services and consulting are some of the most popular fields for business school grads. According to statistics from Harvard Business School, financial services and consulting are the most popular paths for its graduates. When Colloredo-Mansfeld's husband got a professorship at the University of Iowa, she started working at Iowa's business school. Additionally, he had gotten a taste of business school years prior when he attended Stanford's Summer Institute for General Management Program. It was on these site visits that Richman started to work directly with customers and realized she had a passion for selling.

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