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Two of the Fed's 12 regional bank presidents resigned as a result of that scandal and Powell launched a fast overhaul of the central bank's ethics rules as criticism mounted. Senator Elizabeth Warren, a longtime Powell opponent, saying she had lost confidence as well in San Francisco Fed President Mary Daly, whose bank was responsible for supervising SVB. Still, turbulence in financial markets and the banking system is likely to feature prominently in Powell's post-meeting news conference, which is scheduled to begin at 2:30 p.m. EDT (1830 GMT). The U.S. central bank will release its policy statement and new economic projections from Fed officials at 2 p.m. EDT. Market expectations are tilted heavily towards the Fed approving another quarter-of-a-percentage-point rate increase, which would lift its benchmark overnight interest rate - the federal funds rate - to the 4.75%-5.00% range.

☆ As the Fed meets on Wednesday after bank runs, a market analyst shares 4 key questions investors desperately need answered — and his prediction for how stocks will react
▼ + stars: | 2023-03-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Investors should pay attention to whether the Fed sees the bank collapses as deflationary. The fallout from Silicon Valley Bank and Credit Suisse crises could result in a credit crunch. The Federal Deposit Insurance Corporation (FDIC) has officially added Signature Bank and Silicon Valley Bank to the failed bank list after swooping in to save depositors. There's a growing view that the fallout from the Silicon Valley Bank and Credit Suisse crises could result in a credit crunch and create a deflationary environment. The bank expects rate hikes to resume in May, June, and July at 25 bp each for a fed's fund rate of 5.25 to 5.5%.

☆ How a family's struggle to help their son gave rise to controversial $400 million psychedelics giant Compass Pathways
▼ + stars: | 2023-02-15 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +18 min

Today, Compass Pathways, the for-profit company they launched in 2016, is a Nasdaq-listed firm worth about $400 million. Compass Pathways Show lessIt could also boost the dozens of psychedelics companies inspired by Compass that have been formed in recent years. Insider spoke with more than a dozen industry participants to chart the rise of Compass Pathways and its role in the psychedelics boom. He recalled the 2018 Quartz article that detailed the growing alarm around Compass Pathways' "magic mushroom monopoly." Were it not for his decision to take a break from college, and his parents' efforts to find a treatment, Compass Pathways might not exist.

☆ Turkey and Greece have a centuries-long feud that has come close to war. But when earthquakes hit, they still come to each other's aid.
▼ + stars: | 2023-02-10 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Greece and Turkey have decades of animosity, repeatedly moving towards the brink of war. Turkey is currently dealing with the aftermath of a devastating earthquake, and Greece is helping. Last December Greece's foreign ministry said that Turkey was making "repeated threats of war," as Turkey responded angrily to what it said was Greece militarizing the Aegean islands. Nicholas Burns, the then-United States Ambassador to Greece, described what happened as "earthquake diplomacy" to The New York Times. Greece was previously under the control of Turkey, leading to a bitter independence fight that ended with Greece gaining independence from the Ottoman Empire in 1830.

☆ Judge could take months to decide case of Castro-era Cuban debt
▼ + stars: | 2023-02-06 | by ( Michelle Caruso-Cabrera | ) www.cnbc.com time to read: +4 min

The trial ended last week, but it could be months before the judge, Sara Cockerill, renders judgement in the case of CRF vs Banco Nacional de Cuba & Cuba. Her decision is central to whether Cuba may finally be forced to pay back billions of dollars in unpaid debts. At one point the barrister for CRF cited a British property case regarding the lease of a fried fish shop. The question before the judge is of whether the fund has the right to sue Cuba. No matter how the judge rules, the Cuban government will still owe the money.

Shares of household product giant P & G have been hit hard over the past few weeks due to a market rotation out of defensive companies that outperformed last year. P & G lost about 7% in 2022's terrible year, much less than the S & P 500 's more than 19% decline in 2022. Sure the 6% decline in sales volume was more noticeable from the prior quarter when volume fell 3%. For example, 1 percentage point of the volume decline was due to P & G cutting its Russia portfolio in half due to Moscow's unprovoked war on Ukraine. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ We expect supply chain disruptions and price increases to reemerge in 2023: Investment firm
▼ + stars: | 2022-12-16 | 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 EmailWe expect supply chain disruptions and price increases to reemerge in 2023: Investment firmHeath Zarin of EmergeVest says that they would expect economic weakness for at least the first half of 2023, with the potential for disruption or price increases to emerge later on in the year.

Hong Kong CNN —James Cameron’s “Avatar: The Way of Water” has premiered in China, 13 years after the original film took the country by storm. A poster of film 'Avatar: The Way of Water' is seen at a cinema on December 11, 2022 in Beijing, China. I immersed myself in the plot and enjoyed an unprecedented audio-visual feast.”Shot in the armThe “Way of Water” is expected to buoy China’s pandemic-depressed box office. By mid-December, China’s box office reached only 28.8 billion yuan ($4.1 billion), down nearly 40% from last year. The “Way of Water” accounted for 80% of screenings scheduled for Friday, the Maoyan data showed.

☆ Mother takes Pornhub parent company to court over 'traumatizing' rape videos of her teenage son uploaded to the site
▼ + stars: | 2022-12-03 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +5 min

A mother is taking MindGeek, who owns Pornhub, to court after a man was convicted of raping her son, filming the content, and uploading it to the site. Her lawyer told Insider that the videos uploaded to the site were "clearly" of a minor. In a statement to Insider, MindGeek said, "MindGeek is aware that a lawsuit has been filed in federal court in Alabama. As well as owning Pornhub, MindGeek owns a number of other adult entertainment sites, including xHamster, RedTube, and YouPorn. In December 2020, an allegation that Pornhub hosts videos depicting child pornography sparked both Visa and Mastercard to launch investigations into the site and drop ties with the company.

New York CNN Business —Elon Musk has completed his $44 billion acquisition of Twitter, the company confirmed in a securities filing Friday, putting the world’s richest man in charge of one of the world’s most influential social media platforms. The confirmation comes after a source familiar with the deal told CNN the deal had closed Thursday night. But Musk’s takeover now raises a host of new questions for the future of the social media platform, and the many corners of society impacted by it. Despite multiple news outlets confirming the changes Thursday night, Twitter staff had still not formally been informed of the changes as of Friday morning, two Twitter employees told CNN. Now he controls a social media platform that shapes how hundreds of millions of people communicate and get their news.

☆ Wells Fargo upgrades Ross Stores, calls stock one of the 'best ways' to play off-price retail
▼ + stars: | 2022-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Ross Stores is one of the best ways investors can get in on the off-price retail trade, Wells Fargo said. Analyst Ike Boruchow upgraded the stock to overweight, saying in a note to clients Tuesday that he sees upside to Wall Street's estimates ahead. Boruchow expects improving fundamentals across the off-price sector due in part to growing inventory availability as consumers trade down. "Simply put, we believe BURL and ROST are the best ways to play our bullish off-price thesis," he wrote, calling both companies "better recovery stories." Boruchow upped Wells Fargo's price target on Ross Stores to $110 from $90 a share, suggesting the stock could rally 26% from Monday's close.

☆ Some Gen Zers are hoping for a housing market crash so they can afford to buy a home
▼ + stars: | 2022-09-14 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

According to their results, 78% of respondents think we'll soon face a housing market crash and nearly half believe it will happen in 2023. Indeed, 84% of the survey's respondents born between 1996 and 2015 said they wanted a market crash. "Gen Z was the generation most likely to want a housing crash or correction so they could buy a home," researchers wrote. "Despite their hopes for a cooler market, Gen Zers have the least saved for a home." Do you feel a housing crash — or a less dramatic slowdown — would make it easier for you to buy a house?

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