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One of the longest labor crises in Hollywood history is finally coming to an end. Upset about streaming-service pay and fearful of fast-developing artificial intelligence technology, actors joined screenwriters on picket lines in July. The writers had walked out in May over similar concerns. It was the first time since 1960, when Ronald Reagan was the head of the actors’ union and Marilyn Monroe was still starring in films, that actors and writers were both on strike. Brooks Barnes and Nicole Sperling reported from Los Angeles and John Koblin from New York.

Persons: —, Ronald Reagan, Marilyn Monroe, Brooks Barnes, Nicole Sperling, John Koblin Organizations: SAG Locations: Hollywood, Los Angeles, New York

☆ 'Looksmaxxing' is the new TikTok trend for young men who want to be hot
▼ + stars: | 2023-11-08 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

"Looksmaxxing" is the Tiktok trend taking hold among some young men who want to be better-looking. The New York Times wrote about the trend, which has shifted from a friendlier version on Tiktok, where handsome men give basic advice. The story points out that much of the TikTok version of the trend is simply helpful, basic advice, and the target audience is often young teenage men — a demographic that can be hygienically challenged. Calling these basic tips "looksmaxxing" — and treating it like getting "facial gains" — is silly. But this is the first time we're seeing swaths of young men gathering online to talk about it with these meme-y terms like "mogging" (looking hotter than someone else).

Persons: —, looksmaxxing, Latham, Dillion Latham, — they're, It's, Looksmaxxers Organizations: Service, The New York Times, GQ, 4chan Locations: British

☆ Bank of England central counterparty stress tests confirm resilience
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

The Bank of England is seen in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay Acquire Licensing RightsLONDON, Nov 8 (Reuters) - The Bank of England on Wednesday said results of stress tests on central counterparties (CCPs) showed continued resilience at the businesses, which help clear and settle trades in financial instruments and commodities essential for the global economy. "The results confirm the continued resilience of UK CCPs to market stress scenarios that are of equal and greater severity than the worst-ever historical market stresses," said Sarah Breeden, the BoE's Deputy Governor for Financial Stability. The stress tests covered three central counterparties which operate in Britain, ICE Clear Europe Limited (ICE.N), LCH Limited, a part of LSEG (LSEG.L), and LME Clear Limited, owned by Hong Kong Exchanges and Clearing Ltd (0388.HK). The BoE said it would use the findings "to support and inform its ongoing supervision and regulation of UK CCPs".

Persons: Hannah McKay, Sarah Breeden, BoE, William James, David Milliken, Sarah Young Organizations: of, City of, REUTERS, Bank of England, Financial Stability, ICE Clear Europe, LCH, LME Clear, Hong Kong Exchanges, Clearing, HK, LME, Thomson Locations: of England, City, City of London, Britain, LSEG, LME Base

☆ How Haley, DeSantis and Other Republicans Could Beat Trump - The New York Times
▼ + stars: | 2023-11-07 | by ( Kristen Soltis Anderson | ) www.nytimes.com time to read: +2 min

If only the field were smaller, the thinking went, surely Mr. Trump would be defeated. This line of thinking became an excuse for candidates who didn’t want to take any real swings at Mr. Trump. It was the field — not Mr. Trump — that was the problem. And even as Mr. Trump’s opponents dropped out, some of their voters wound up drifting to Mr. Trump as a second choice, keeping him at the head of the pack. While there is some truth that having more candidates helps Mr. Trump win the nomination, consolidating the field alone is not likely sufficient to defeat him.

Persons: ” Michael J, Marty McFly, Donald Trump, Trump, Ted Cruz of, Marco Rubio, Trump’s Organizations: Republican Party Locations: Ted Cruz of Texas, Marco Rubio of Florida, Michigan

☆ Deposit delays: Fed tells banks to get customers help
▼ + stars: | 2023-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Federal Reserve officials are urging banks to work with customers hurt by ongoing deposit delays that have prevented some people from accessing their paychecks and other funds. The deposit delays are linked to a problem that emerged on Friday with the Automated Clearing House (ACH) payments system, causing headaches for consumers and employers. “The Federal Reserve encourages banks to work quickly to resolve issues for customers experiencing delays in receiving direct deposit payments as a result of operational issues at a private sector payments provider,” a Fed spokesman told CNN in a statement. Fed officials signaled they want banks to help customers by waiving overdraft or late fees. The Consumer Financial Protection Bureau similarly told CNN on Monday that consumers “should not be penalized” by fees and penalties.

Persons: haven’t, waiving overdraft, JPMorgan Chase, Banks, Chase Organizations: New, New York CNN — Federal Reserve, Federal Reserve, CNN, Consumer Financial, JPMorgan, Fed, ACH Network, Bank of America, US Bank Locations: New York, United States, Wells Fargo

☆ Bernstein says to buy these crypto stocks to play the expected bitcoin ETF and halving
▼ + stars: | 2023-11-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Crypto investors are returning attention to two big catalysts – a bitcoin ETF and the Bitcoin halving – and Bernstein has ways to play each. With that backdrop, Bernstein recently initiated coverage on bitcoin mining stocks, with an outperform rating on both Riot Platforms and CleanSpark and a market perform rating on Marathon Digital . "Right now, you should buy RIOT and CLSK, with clear market catalysts around bitcoin ETF approval in early 2024," Bernstein analyst Gautam Chhugani said in a note Monday. Further down the road, there's the next bitcoin halving, which is expected in the spring of 2024. It happens approximately every four years, when the reward for mining bitcoin is cut in half as mandated in the Bitcoin code to reduce the supply of the cryptocurrency over time.

Persons: Bernstein, Crypto, Gautam Chhugani, It's, Chhugani, it's, CNBC's Michael Bloom Organizations: Marathon

☆ Europe should brace for U.S. Treasury clearing rules, says industry body
▼ + stars: | 2023-11-07 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - Europe has nowhere to hide from U.S. plans to mandate clearing of U.S. Treasuries transactions that will need to be carefully introduced over time, a global derivatives industry body said on Tuesday. A clearing house is backed by a default fund, ensuring that a transaction is completed even if one side of a transaction goes bust. Regulators began mandating the use of clearing more widely in derivatives markets after the global financial crisis in 2008 to improve stability and transparency. "It's something that you need to look at carefully and at this stage I think we still have more questions than answers as to how the actual process of clearing Treasury cash and Treasury repo will play out," Litvack said. Much will hinge on the details in the final rules that determine who will be within scope, O'Malia said.

Persons: Andrew Kelly, It's, Eric Litvack, Litvack, Scott O'Malia, O'Malia, Huw Jones, Chizu Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Regulators, International, Association, Financial, Thomson Locations: Washington ,, Europe, U.S, Treasuries, United States, repos

☆ Bank stocks could be the hot year-end trade if peak rates prove a 'mini clearing event'
▼ + stars: | 2023-11-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

It's time to pick positions in bank stocks heading into year end as peak rates could be a "mini clearing event" for the sector, according to Bank of America. "While we are careful to not [get] carried away, peak interest rates do have potential to serve as a mini clearing event for bank stocks," BofA's Ebrahim Poonawala wrote in a Sunday note. Regional banks are down by 27% this year, and have continued to face intense scrutiny due to their exposure to commercial real estate. "Best case, peak rates could mark near term bottom in bank stocks vs. S & P." To be sure, there remain issues in the sector. Bank stocks are highly tied to the broader economy and their loans could take a hit if the U.S. falls into a recession.

Persons: BofA's Ebrahim Poonawala, JPMorgan Chase, KRE, Poonawala, NIM, it's, Bryn Talkington, Talkington, Morgan Stanley, Bill Gross, Gross Organizations: Bank of America, Bank, Citigroup, JPMorgan, Regional Banking, P Bank, Federal Reserve, Capital Management, West Bancorp, Truist Financial, Citizens, Apple Locations: Wells Fargo, U.S

☆ GlobalFoundries projects profit above estimates in positive sign for chip market
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 7 (Reuters) - Contract chipmaker GlobalFoundries (GFS.O) forecast fourth-quarter profit above analysts' estimates on Tuesday, providing the latest sign that a supply glut in the semiconductor industry was easing. Both Intel (INTC.O) and Advanced Micro Devices (AMD.O) have indicated that a recovery is afoot in the personal computer market, a key source of revenue for semiconductor makers. GlobalFoundries said it expects adjusted profit per share to be in the range of 53 cents to 64 cents in the three months to December, above estimates of 52 cents, according to LSEG data. The company, whose customers range from mobile phone chip designer Qualcomm (QCOM.O) to the U.S. Department of Defense, said net revenue fell 11% to $1.85 billion in the third quarter, but came in line with estimates. Adjusted earnings of 55 cents per share beat estimates of 49 cents.

Persons: Brendan McDermid, Thomas Caulfield, GlobalFoundries, Arsheeya, Sriraj Organizations: Nasdaq, REUTERS, Intel, Devices, Qualcomm, U.S . Department of Defense, Thomson Locations: New York City, U.S, Bengaluru

☆ Five graphics that show some of the biggest threats facing the natural world
▼ + stars: | 2023-11-06 | by ( Flo Cornall | Woojin Lee | ) edition.cnn.com time to read: +5 min

In a series of graphics, we take a look at some of the biggest environmental challenges facing our planet. Global wildlife populations plummeted by 69% on average between 1970 and 2018, according to WWF’s Living Planet Report 2022. Swipe to see more Forest loss Note: These figures do not include regrowth or regeneration of forest. But many are facing threats from pesticides and crop monocultures, as well as the destruction of their habitats. Swipe to see more Bird populations Source: BirdlifeDespite the scale of the challenges, there are countless groups and individuals committed to protecting our planet.

Persons: it’s Organizations: CNN, Resources Institute, Global, UN, University of Sheffield, UN Food and Agriculture Organization, British Trust for Ornithology, Birdlife Locations: California, Hawaii, India

The Senate, which Democrats control 51-49, has also been struggling to pass bills funding the government through Sept. 30, adding to calls for a stopgap "continuing resolution" to avert a shutdown. Further complicating matters is a Republican majority so narrow that House Speaker Mike Johnson can afford to lose no more than four party votes on legislation Democrats oppose. "He hasn't decided how that would be structured - if that would happen," House Majority Leader Steve Scalise, the No. 2 Republican, told reporters in the U.S. Capitol on Friday. The House passed two of three Republican spending bills on their agenda last week, covering congressional operations and the environment.

Persons: Leah Millis, We've, Tom Cole, Hakeem Jeffries, Jeffries, Mike Johnson, Jeff Lewis, Johnson, Kevin McCarthy, hasn't, Steve Scalise, Frank Lucas, Jason Lange, David Morgan, Richard Cowan, Scott Malone, Jonathan Oatis Organizations: U.S . Capitol, REUTERS, Rights, U.S, Congress, Republicans, Democratic, House Democratic, Republican, Caucus, University of California, Capitol, Fox News Sunday, Reuters, Thomson Locations: Washington , U.S, Los Angeles

☆ Nigeria's naira firms on black market, central bank settles FX forwards
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

The naira has hit successive record lows on the black market, where it trades freely, as excess demand on the official market gets funnelled to the unofficial market. The naira crossed the 1,000 naira mark on the black market on Sept. 26, the day newly-appointed central bank governor Olayemi Cardoso appeared before the Nigerian senate for his confirmation hearing. The central bank has not intervened on the official market since October, helping accelerate the naira's slide on the black market. The currency hit a record low of 1,300 naira per dollar on the black market, a month after it crossed the 1,000 naira mark, amid thin trading volumes on the parallel market and dollar shortages on the official market. On the official market, the naira was trading at 884.53 to the dollar at 1200 GMT.

Persons: Afolabi, firmed, Olayemi Cardoso, Cardoso, Wale Edun, Chijioke, Mark Potter Organizations: REUTERS, Rights, Finance, Thomson Locations: Rights ABUJA, Nigeria

☆ Diver’s huge discovery of ancient coins off coast of Sardinia hints at shipwreck
▼ + stars: | 2023-11-06 | by ( Hafsa Khalil | Sharon Braithwaite | ) edition.cnn.com time to read: +2 min

The diver spotted some “metal remains” in shallow water near the town of Arzachena, the ministry said in a statement Saturday. These turned out to be “follis”—Roman bronze or copper coins also later used as Byzantine currency. Italian Ministry of CultureBased on their weight, the total number of coins in the find is estimated to be between 30,000 and 50,000, the ministry said. According to the statement, the coins date from 324 to 340 CE and were produced by mints across the Roman empire. Italian Ministry of CultureThe culture ministry said the location where the coins were found—a sandy clearing between the beach and an area of seagrass—could, theoretically, preserve a shipwreck.

Persons: Luigi La Rocca, ” La Rocca Organizations: CNN, Italian Ministry of Culture, Ministry of Locations: Sardinia, Italy, Arzachena, Seaton , United Kingdom

☆ Gaza workers expelled from Israel accuse Israeli authorities of abuse, including beatings
▼ + stars: | 2023-11-06 | by ( Ivana Kottasová | Nada Bashir | ) edition.cnn.com time to read: +14 min

I know people whose rib cage was completely broken, some people died of torture,” he told CNN. An Israeli security official told CNN that the Israel Defense Forces (IDF) was aware of several incidents of “abuse” of Gazan workers by IDF soldiers. Several of the workers told CNN they were blindfolded and handcuffed for long periods of time. Palestinian workers deported by Israel make their return to the Gaza Strip in Rafah, Gaza, on November 3, 2023. They were then forced to walk for “about three hours” to cross into the enclave, several of them told CNN.

Persons: Muqbel Abdullah Al Radia, Abdullah Al Radia, Al Radia, Israel –, ”, Mahmoud Abu Darabeh, Beit Lahiya, Abu Darabeh, “, ” Abu Darabeh, Ibraheem Abu Mustafa, –, ‘, Israel, Yoav Gallant, Mohammed Zaanoun, ‘ Dehumanization, ’ Amani Sarahneh, Sarahneh, Dror Sadot, Sadot, “ We’ve, Mohamed Atallah, they’d, ” Bilal Aysha Organizations: Gaza CNN, CNN, Hamas, Israel’s, Palestinian Prisoners Society, West Bank, Israel Defense Forces, Reuters CNN, IDF, Gaza, “, Getty, Al, B’Tselem, Israeli Information Center, Human Rights, Friday Locations: Jerusalem, Gaza, Israel, Beit Lahiya, Rahat, Israeli, Ofer, Ramallah, Salem, Jenin, Beit, Rafah, Al, Gaza City, Territories

SAN FRANCISCO (AP) — A processing glitch in the network that processes electronic transfers between nearly all U.S. bank accounts led to delays in settling deposits, some of which remain stalled, according to the private company that operates the system. TCH, as the company is known, is owned by a group of 22 major banks, including Citibank, Wells Fargo, Bank of America and J.P. Morgan Chase. Many customers have complained about the problem on social media, noting that delayed paycheck deposits have imperiled important automatic payments such as mortgage payments, rent and credit-card bills. It also noted that the issue affected only a “very small percentage” of all transactions. It said it was working with the banks, their customers and the Federal Reserve to fix the problem as quickly as possible.

Persons: Morgan Chase, TCH Organizations: FRANCISCO, Citibank, Bank of America, Federal Reserve Locations: Wells Fargo

☆ The SEO world is up in arms after a story said they're 'ruining the internet.' Here's the spicy drama.
▼ + stars: | 2023-11-06 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementAre your Google search results increasingly irrelevant — worthless, even? The Verge article, written by Amanda Chicago Lewis, is 8,000 words and starts with an anecdote about attending a search-engine optimization industry event that featured a live alligator. It seeks to answer a question many of us have thought: Why does it seem like Google search sucks now? AdvertisementAdvertisementDespite The Verge's headline (which, as far as I can tell, isn't even good SEO), Lewis doesn't really say that SEO experts ruined the internet. Spammy and misleading SEO are noticeable; good SEO, the kind the people in this article do, is unseen.

Persons: —, Amanda Chicago Lewis, it's, It's, SEOs, Danny Goodwin, brag, Danny Sullivan, who's, Sullivan, Lewis, They're, they're, it's furries, Lewis doesn't Organizations: Google, Service, Facebook, Wild, …

☆ When Israel needs to fight Hamas in its tunnels, it turns to an elite band of commandos called the Yahalom unit
▼ + stars: | 2023-11-06 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Clearing out the Hamas tunnels is one assignment for the Israel Defense Forces (IDF) amid its ongoing ground invasion of Gaza, now a little more than a week old. To effectively carry out this task, the military has a elite band of commandos who are trained for underground warfare and other subterranean operations known as the Yahalom unit. The unit was created in 1995 and doubled in size after the 2014 Gaza War — known in Israel as Operation Protective Edge — to deal with the growing threat posed by Hamas' tunnels. On Friday, for example, the IDF said Yahalom soldiers working in tandem with other units destroyed Hamas tunnels during "special operations" inside the strip. "Hamas views warfare underground just as it would aboveground, utilizing defense, offense, and retreat," he remarked.

Persons: —, Nir Elias, Krav Maga, Israel, they're, Yaron Beit, Yahalom, John Spencer, Spencer Organizations: IDF, Service, Israel Defense Forces, Combat Engineering Corps, REUTERS, Yahalom Foundation, Military, Telegram, West, Institute, US Locations: Gaza, Israel, Tel Aviv, Beit Hanoun

☆ Exclusive: China's clashing priorities behind rare money market distress
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +7 min

"Banks were grudging in lending, leaving non-banks asking each other for money in afternoon trade," he said. The reasons for the spike in interest rates and the ensuing market chaos are detailed here for the first time. They affect foreign exchange movements since the markets are the major avenue for the supply of money. The money market operator CFETS told traders to keep a 5% ceiling on repo transactions and said anyone involved in high-rate deals closed on Oct. 31 would need to explain themselves to regulators, according to sources who received the notice. "If the pattern of money supply and liquidity provision remains unchanged, the whole system remains fragile.

Persons: Xia Chun, Banks, outflows, CFETS, Tom Westbrook, Vidya Ranganathan, Raju Gopalakrishnan Organizations: People's Bank of China, China Foreign Exchange Trade, Yintech Investment Holdings, Reuters, China Everbright Bank, Co, China Central Depository, Shanghai Clearing House, Shanghai, Thomson Locations: SHANGHAI, SINGAPORE, Beijing, Shanghai, China

☆ Banking industry direct deposit delays: Customers of Bank of America, Chase, and more have reported payment issues
▼ + stars: | 2023-11-06 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Some customers still haven’t received their direct deposit paychecks following a “human error” last week deep in the plumbing of America’s banking system. The deposit delays are linked to a problem that emerged on Friday with the Automated Clearing House (ACH) payments system, causing headaches for consumers and employers. An industry source confirmed to CNN on Monday that it’s likely some customers haven’t received their deposits yet. Clearing house says it was a ‘manual error’Asked for comment, multiple banks referred inquiries to The Clearing House, which is owned by the largest commercial banks including Bank of America, JPMorgan Chase, CitiBank and Wells Fargo. The Clearing House did not provide an updated comment on Monday or any timetable for when the problem will be fully resolved.

Persons: haven’t, Banks, Chase, ”, Downdetector, Wells, “ Wells, Wells Fargo, Jim Seitz, ” Chase, Greg MacSweeney, MacSweeney, Dennis Kelleher, ” Kelleher Organizations: New, New York CNN, CNN, Consumer Financial, Bureau, Bank of America, US Bank, Twitter, “, ” Bank of America, JPMorgan Chase, CitiBank, House, Federal Reserve, Fed, ACH Network, Better Locations: New York, Wells Fargo, ACH, United States

☆ BofA notifies customers of temporary industry-wide deposit delays
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. The issue could be stemming from The Clearing House (TCH), a core payments system infrastructure owned by some of the largest commercial banks in the world. "TCH has experienced a processing issue with a single Automated Clearing House (ACH) file. TCH is working with impacted financial institutions on the matter," a spokesperson for the association said in an emailed statement to Reuters. An alert on the Federal Reserve Financial Services website said all services were operating normally as of 12:44 PM Eastern Time (ET).

Persons: Carlo Allegri, TCH, JPMorgan Chase, Niket Nishant, Manya, Saeed Azhar, Tatiana Bautzer, Shweta Agarwal Organizations: of America, REUTERS, Bank of America's, BofA, JPMorgan, Truist, U.S . Bancorp, Federal Reserve Financial, Manya Saini, Thomson Locations: Manhattan, New York City , New York, U.S, Bengaluru, New York

A man walks by the Bank of America headquarters in New York on July 18, 2023. Customers at several big banks on Friday wrestled with direct deposit delays stemming from an industry-wide processing issue. There was a surge of "outages" reported by banking customers Friday morning, including Bank of America, Chase, Truist, U.S. Bank and Wells Fargo, according to Downdetector. All Federal Reserve Financial Services are now operating normally, according to a Federal Reserve statement released Friday. Banks are now working to correct the errors in those payments, he said.

Persons: Chase, Gregory MacSweeney, Banks, Lee Henderson Organizations: Bank of America, U.S . Bank, Financial Services, Finance, Social Security, Fed, Electronic Payments, CNBC Locations: New York, Truist, U.S, Wells Fargo

☆ US anticipates shift in Israel’s tactics in the coming week, senior US official says
▼ + stars: | 2023-11-03 | by ( Donald Judd | Mj Lee | ) edition.cnn.com time to read: +4 min

Asked when the Biden administration might feel compelled to call for a ceasefire – something it has so far declined to do – the senior administration official said that given the scale and nature of Hamas’ attacks on Israel on October 7, a ceasefire was not appropriate. “A terrorist group takes 200 hostages and kills 1,400 people and is hiding under tunnels, including the leaders – ceasefire is not really the word … to use,” the official told CNN. Neither he nor anyone in his administration has come close to criticizing how Israel is conducting its offensive. “I understand the emotion,” Biden said as he continued his remarks after the protester was led out of the room. The official said Friday that there is “just as intense a process ongoing” to secure the safe release of hostages held by Hamas in Gaza.

Persons: Biden, we’ve, “, Joe Biden, Israel, ” Biden, Biden’s, ” Organizations: CNN, Hamas, Israel Defense Forces, United Nations Locations: Israel, Gaza, Northern Gaza, Minneapolis, Rafah

☆ Rich countries are stumbling into a debt trap
▼ + stars: | 2023-11-03 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

Unlike many corporations and households, the U.S. government did not lock in the low interest rates of the last decade by issuing long-dated debt, preferring instead to skew funding towards bills and short-term bonds. The second route out of the debt trap is to target the primary fiscal surplus, choosing a combination of spending cuts and tax hikes that will stabilise the public debt. That leaves the third route to debt sustainability – keeping real interest rates low. But in the short run, it allows a government to tame the debt ratio without fiscal austerity, and even if growth is sluggish. Governments are indeed stuck in a classic debt trap.

Persons: Joe Biden, Fumio Kishida, Volodymyr Zelenskiy, Kacper, Everett Dirksen, you’re, Dirksen’s, Stanley Druckenmiller, Joe Biden’s, Peter Thal Larsen, Thomas Shum Organizations: Japan's, NATO, REUTERS, Reuters, Congressional, Office, International Monetary Fund, U.S, Treasury, Reuters Graphics Reuters Graphics, Medicaid, Federal, Bank of Japan, Thomson Locations: Ukraine, Vilnius, Lithuania, Illinois, U.S, Britain

☆ The CEO of UNest, a college savings app, stepped down after she said the company was 'insolvent.' Here's what customers need to know.
▼ + stars: | 2023-11-03 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

UNest is a startup that makes it easier for people to save up for major life expenses like college. Ksenia Yudina, founder & CEO, stepped down last month and warned the company was "insolvent." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As Insider previously reported, Ksenia Yudina, founder & CEO, stepped down last month and warned the company was "insolvent." "The board, remaining management, and investors are working closely together to secure additional funding for the company," he said.

Persons: Ksenia Yudina, —, Franklin Templeton, Star Baron Davis, Laura Dern, Michael Doniger, UNest, Ben Bergman, bbergman@insider.com Organizations: Service, Artemis Fund, Anthos, Northwestern Mutual, Star, Vanguard, Blackrock, Apex Clearing Locations: Anthos Capital, Apex

☆ Bank of America warns of banking industry deposit delays
▼ + stars: | 2023-11-03 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Bank of America alerted customers on Friday that their deposits may be delayed due to a problem impacting multiple banks. Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo have complained of issues on Friday morning, according to Downdetector. An industry source tells CNN that the issue appears to be related to the Automated Clearing House (ACH), which is a network for processing transactions. The source said the problem does not appear to be a bank-specific issue. In a message to customers on Friday, Bank of America said “some deposits may be temporarily delayed.”The message said the deposits from Friday may be delayed due to an “issue impacting multiple financial institutions.”“Your accounts remain secure, and your balance will be updated as soon as the deposit is received,” the Bank of America message read.

Persons: Wells Fargo Organizations: New, New York CNN — Bank of America, Bank of America, US Bank, CNN, Reserve, US Treasury Department Locations: New York, Truist, Wells

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