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☆ For one day only, Bank of America cardholders will earn unlimited bonus rewards on all purchases — here's how to make the most of More Rewards Day
▼ + stars: | 2022-10-20 | by ( Tessa Campbell | Personal Finance Reviews Fellow | Read More | ) www.businessinsider.com time to read: +24 min

Bank of America More Rewards Day is November 5, 2022, starting at 12 a.m. Eastern Time. But if you're a Bank of America Preferred Rewards member, you'll only earn your Preferred Rewards member bonus on the purchase amount, and not the bonus earning. All personal and business Bank of America credit cards are eligible to earn the More Rewards Day bonus on November 5, 2022. If your Bank of America card doesn't normally earn rewards, you'll receive a statement credit equal to 2% of total purchases made on November 5, 2022. Cash back personal and business credit cards include:Points rewards personal and business credit cards include:Bank of America® Travel Rewards credit card , Bank of America® Premium Rewards® credit card, Bank of America® Premium Rewards® Elite credit card, BankAmericard® Power Rewards®, MERRILL+®, MERRILL+® Elite, Bank of America® Royal Caribbean®, Bank of America® Celebrity Cruises®, Norwegian Cruise Line®, Bank of America® Sonesta®, Bank of America® Beaches®, Bank of America® Sandals®, Bank of America® Virgin Atlantic®, Bank of America® Free Spirit®, Bank of America® Allegiant®, Bank of America® Premium Rewards® credit card, Bank of America® Premium Rewards® Elite credit card, BankAmericard® Power Rewards®, MERRILL+®, MERRILL+® Elite, Bank of America® Royal Caribbean®, Bank of America® Celebrity Cruises®, Norwegian Cruise Line®, Bank of America® Sonesta®, Bank of America® Beaches®, Bank of America® Sandals®, Bank of America® Virgin Atlantic®, Bank of America® Free Spirit®, Bank of America® Allegiant® Bank of America® Business Advantage Travel Rewards World Mastercard® Credit Card , WorldPoints® Rewards for Business credit cardsMiles rewards personal and business credit cards include:Alaska Airlines Visa® Credit Card, Bank of America® Air France KLMAlaska Airlines Business Credit CardNon-rewards and other rewards credit cards include:BankAmericard®, BankAmericard® Better Balance Rewards®, Bank of America® Amway®Bank of America® Platinum Plus® Business credit card

☆ That nondescript building on the side of the highway is the newest gold mine Wall Street is trying to tap
▼ + stars: | 2022-10-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, inside the latest Wall Street investment trend that's offering double-digit returns. Meet Wall Street's newest gold mine. So why should you care about Wall Street's sudden interest in warehouses? To read more about Wall Street's appetite for warehouses, check out the full story here. PE firms have started buying up stakes in law firms.

Czech markets were jolted on Wednesday on news the government could widen its proposed tax on excessive profits to include 2022 earnings, earlier than existing plans applying only to 2023-2025. Stanjura told reporters after the government met that the cabinet still leaned towards putting the windfall tax in place for 2023, calming markets somewhat. A government source had earlier said legal implications for the tax were still being considered. The windfall tax should be imposed on banks with more than 6 billion crowns ($240 million) of net interest income in 2021. A windfall tax would help cover protective measures such as a cap on electricity prices.

☆ My logistics company operates warehouses in 2 of the sector's hottest markets. We made 8 figures in revenue last year thanks to the boom in e-commerce.
▼ + stars: | 2022-10-19 | by ( Jenny Powers | ) www.businessinsider.com time to read: +7 min

After 20 years of working in transportation and third-party logistics distribution for organizations like Airborne Express and DHL, I started Boxzooka in 2014. During the pandemic, some clients had to close their brick-and-mortar stores, but they also saw a boom in e-commerce businessHeegan. At the same time, stay-at-home orders resulted in consumers turning to online shopping, which led to a significant boom for our e-commerce clients. We've leased multiple spaces in the last 7 yearsWe first leased space in Secaucus in 2015. When we leased the Harrisburg space, the market was just starting to warm up, but nothing like Secaucus.

☆ Sri Lanka approves law to liberalize petroleum imports
▼ + stars: | 2022-10-18 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, Oct 18 (Reuters) - Sri Lanka approved legislation on Tuesday to let companies from oil-producing nations import and sell fuel as it attempts to cope with a steep oil bill that deepened its worst financial crisis in decades. "Due to the country's financial situation we cannot afford to purchase the fuel that we need. Sri Lanka is in the middle of a serious energy crisis." State-run banks have also struggled to repay about $751 million it owes to suppliers, the minister said. The new legislation will liberalize the petroleum industry allowing international companies to directly import and sell fuel in Sri Lanka and reduce reliance on the country's meagre dollar supplies.

☆ Sri Lankan author Shehan Karunatilaka wins 2022 Booker Prize
▼ + stars: | 2022-10-17 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +2 min

LONDON, Oct 17 (Reuters) - Sri Lankan writer Shehan Karunatilaka won the Booker Prize on Monday for his second novel "The Seven Moons of Maali Almeida," about a dead war photographer on a mission in the afterlife. Set in 1990 Sri Lanka during the country's civil war, Karunatilaka's story follows gay war photographer and gambler Maali Almeida, who wakes up dead. This year's shortlist of Booker Prize contenders included British author Alan Garner's "Treacle Walker", Zimbabwean author NoViolet Bulawayo's "Glory", "Small Things Like These" by Irish writer Claire Keegan, U.S. author Percival Everett's "The Trees" and "Oh William!" "It is an entirely serious philosophical romp that takes the reader to 'the world's dark heart' - the murderous horrors of civil war Sri Lanka," MacGregor added. Past winners of the Booker Prize, which was first awarded in 1969, include Margaret Atwood, Salman Rushdie and Yann Martel.

☆ Liverpool jolt Man City as Arsenal go four points clear
▼ + stars: | 2022-10-16 | by ( Martyn Herman | Tommy Lund | ) www.reuters.com time to read: +5 min

City, who could have gone 16 points clear of their hosts with a win, had a Phil Foden goal disallowed, while Liverpool manager Juergen Klopp was shown a red card for remonstrating with a linesman after a tackle on Salah. Mikel Arteta's side have 27 points from 10 games with City and Tottenham Hotspur on 23. Chelsea are in fourth spot with 19 points, with a game in hand, thanks to a 2-0 win at Aston Villa courtesy of a double by England midfielder Mason Mount. Manchester United are fifth with 16 points from nine games after drawing 0-0 at home to sixth-placed Newcastle United, who have 15. Despite Arsenal's flying start to the season the popular theory is that relentless City are primed to claim a fifth title in six seasons.

Fewer job openings may sound bad, but in this moment it's a good sign for the economy. But chairs started being pulled away at a much faster pace in August, which could give job seekers a wake-up call. "If there are 100 chairs and 50 workers, workers are cool, man!" Companies are putting up record job openings, but they're not saying when — or even if — they'll fill them. That's frustrated some job seekers as they apply to multiple roles and never hear back.

☆ Alaska cancels snow crab fishing for a year after the population mysteriously collapsed
▼ + stars: | 2022-10-15 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

Alaska canceled the Bering Sea snow crab fishing season for the first time ever on Monday. The snow crab stock looked promising in recent years, sparking hope amid the steep decade-long decline of Alaskan king crab. Yereth Rosen/ReutersScientists need to conduct further research to determine what exactly caused this year's snow crab population crash. Snow crabs had a baby boom, then disappearedA fisherman holds a snow crab in Kjoellefjord, Norway, on November 1, 2017. "Management of Bering Sea snow crab must now focus on conservation and rebuilding given the condition of thestock.

But she said a more effective debt restructuring process was also needed, and China had a big role to play. The Paris Club creditor nations last month reached out to China and India seeking to coordinate closely on Sri Lanka's debt talks, but are still awaiting a reply. German Finance Minister Christian Lindner also joined the growing criticism of China's lack of timely participation in debt restructuring for lower-income countries. China has argued it would not take part in some cases unless the IMF and World Bank also took a haircut. Lindner told reporters he regretted that China had not accepted his invitation to participate in the G7 roundtable with African countries.

☆ Alaska cancels snow crab season, threatening key economic driver
▼ + stars: | 2022-10-14 | by ( Evan Bush | ) www.cnbc.com time to read: +5 min

For the first time, crews in Alaska won't be braving ice and sea spray to pluck snow crab from the Bering Sea. The Alaska Department of Fish and Game canceled the snow crab season earlier this week after a catastrophic population crash of the sizable crustaceans. "It's going to be life-changing, if not career-ending, for people," said Dean Gribble Sr., a 63-year-old crab boat captain who has fished for "opies" — snow crab — since the late 1970s. In summer, many small snow crab make their habitat in a cold pool that forms on the Bering seafloor. The newspaper was the first to report the snow crab season closure.

☆ IKEA lets around 10,000 staff go in Russia -AFP
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Oct 13 (Reuters) - IKEA has now let go around 10,000 employees in Russia as it makes its exit from the country, the French news agency AFP quoted the company as saying on Thursday, as the Swedish furniture giant reported record annual sales. IKEA, the world's biggest furniture brand, shut down its Russian stores in March and said it would sell factories, close offices and reduce its 15,000-strong workforce in Russia. The company had said it would continue to pay staff until the end of August. Jesper Brodin, the CEO of Ingka group, owner of IKEA's stores, told AFP that it had had to lay off around 10,000 of its 12,000 retail employees in Russia. Brodin said Ingka had not yet decided whether to sell the IKEA stores in Russia.

☆ IKEA reports record sales as price hikes offset weakening consumer confidence
▼ + stars: | 2022-10-13 | by ( Anna Ringstrom | ) www.reuters.com time to read: +3 min

STOCKHOLM, Oct 13 (Reuters) - Budget furniture giant IKEA reported record high annual sales on Thursday as price hikes and easing effects from the pandemic made up for supply shortages, weakening consumer confidence and its exit from Russia. "Inflation and supply chain issues impacted FY22 sales, and led to rising costs and higher prices. Register now for FREE unlimited access to Reuters.com Register"In addition, supply chain shortages made it difficult to keep IKEA shelves full," it said. Inter IKEA in June put its factories in the country up for sale, and IKEA stores remain closed, but Ingka's shopping malls remain open. Brodin said on Thursday Ingka had not yet decided whether to sell the IKEA stores.

Paris Club officials reached out to two of Sri Lanka's biggest bilateral creditors after the crisis-hit nation reached a staff-level agreement with the International Monetary Fund board for a $2.9 billion loan in September. The Paris Club still hasn't received a reply from either country, the person added, asking not to be named because the talks are private. As a middle-income country, Sri Lanka is not able to apply for relief under the Group of 20 common framework for debt treatments. The person added that India and China might be at odds on who should take the first step to engage in close coordination with the Paris club on Sri Lanka. The country also needs to renegotiate around $12 billion with overseas bondholders after defaulting on its international debt earlier this year.

☆ Crisis-hit Sri Lanka — which ran out of fuel earlier this year — snaps up cheap Russian oil for the first time ever
▼ + stars: | 2022-10-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Sri Lanka has been buying large amounts of Russian crude since March 2022. Three months ago, Sri Lanka said it was sending an official delegation to Russia to negotiate oil deals amid a crippling fuel shortage. But it's just one of the emerging markets dealing with economic crises now lining up to buy discounted Russian oil. It's unlikely that Sri Lanka had ever purchased Russian crude before March this year, Kpler's lead crude analyst Viktor Katona said. The US has banned Russian crude and the European Union set to implement an oil embargo on Russian oil by the end of the year.

The Amazon Prime Early Access Sale has entered its second and final day and deals are still going strong. In fact, we're seeing excellent all-time low prices that beat out the best deals we found during the first Amazon Prime Day in July. For more deals, check out our main Prime Day deals liveblog, deals under $50 roundup, and up-to-the-minute Prime lightning deals coverage. Currently down to just under $100, this is the best price we've seen for it in months. Amazon Luna ControllerAmazon$39.99 from Amazon Originally $69.99 Save 43%Amazon's Wi-Fi-enabled controller is designed for the Amazon Luna cloud gaming service.

☆ Sri Lanka to keep 'middle-income' status but seek concessional loans
▼ + stars: | 2022-10-11 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com Register"Sri Lanka will remain a middle-income country," the office said in a statement. "We will request the World Bank to grant the country eligibility to obtain loans offered by the International Development Association (IDA)." The local World Bank office in Colombo had no immediate comment on the Sri Lankan request. It said it would continue its discussions with Sri Lanka and that the "key priority" was to move ahead with debt restructuring and economic reforms to put the country's growth back on track. Sri Lanka reached a preliminary agreement with the International Monetary Fund (IMF) for a $2.9 billion bailout in September but has to put its debt on a sustainable path before the funds can be disbursed.

☆ Sri Lanka cabinet approves downgrade to 'low income country'
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

COLOMBO, Oct 11 (Reuters) - Sri Lanka's cabinet has approved a proposal to downgrade the island nation's economic status to "low income country", in order to get access to concessional funding from international organisations, the cabinet spokesman said on Tuesday. Sri Lanka's economy is in a deep slump, shrinking at an annual 8.4% in the June quarter in one of the steepest quarterly declines. Register now for FREE unlimited access to Reuters.com RegisterThe cabinet had decided to downgrade the island to "low income" on the World Bank list, said cabinet spokesman Bandula Gunawardane. "Given the serious financial crisis Sri Lanka is facing representatives of international organizations had informed us that if Sri Lanka was categorised as a low income country access to funding would be easier," Gunawardane said. The Central Bank of Sri Lanka, which held policy rates steady last week, is predicting an 8.7% gross domestic product contraction for 2022.

☆ British businessman charged over helping Russian oligarch evade U.S. sanctions
▼ + stars: | 2022-10-11 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

NEW YORK, Oct 11 (Reuters) - British businessman Graham Bonham-Carter was arrested on U.S. charges of conspiring to violate sanctions placed on Russian oligarch Oleg Deripaska, prosecutors said on Tuesday. Bonham-Carter was arrested in the United Kingdom, and federal prosecutors in Manhattan said they will seek his extradition. Prosecutors said Bonham-Carter made payments for U.S. properties owned by Deripaska and tried to move the aluminum magnate's artwork in the United States overseas. A lawyer for Bonham-Carter, who is also charged with wire fraud, did not immediately respond to a request for comment. Prosecutors said Bonham-Carter has worked for entities controlled by Deripaska since around 2003, and managed his residential properties in the United Kingdom and Europe.

☆ Factbox: Twelve U.S. House races to watch in the midterm election
▼ + stars: | 2022-10-04 | by ( Moira Warburton | ) www.reuters.com time to read: +6 min

CALIFORNIA'S 22ND DISTRICTRepublican Representative David Valadao was one of only 10 House Republicans who voted to impeach Trump in his second trial. He is now facing a tough challenge from Democratic state representative Rudy Salas in a Central Valley district that has been redrawn substantially since the last election. She will face Amanda Adkins, a former chair of the state Republican Party. McLeod-Skinner faces Republican Lori Chavez-DeRemer, a former mayor of Happy Valley, a Portland suburb. Fung has heavily focused his campaign on inflation, while Magaziner argues that Fung would enable the far right House Republicans' agenda.

☆ Sri Lanka looks to revive free trade deal with Singapore
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterSri Lanka's President Ranil Wickremesinghe looks on during an interview with Reuters at Presidential Secretariat, amid the country's economic crisis, in Colombo, Sri Lanka August 18, 2022. REUTERS/ Dinuka LiyanawatteCOLOMBO, Sept 27 (Reuters) - Sri Lanka will step up efforts to revive a stalled free trade pact with Singapore, President Ranil Wickremesinghe told the city state's premier on Tuesday, his office said in a statement. The free trade pact signed in January 2018 was suspended because of objections from Sri Lankan opposition parties and professional bodies. Sri Lanka proposed more than a dozen amendments in May 2021 but talks have largely stalled. Register now for FREE unlimited access to Reuters.com RegisterReporting by Uditha Jayasinghe; Writing by Shilpa Jamkhandikar; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

"As a key long-term partner, the ADB stands ready to provide further support," the bank's president, Masatsugu Asakawa, told reporters at its annual gathering. read more"So we are working closely with the government in supporting the country in this challenging time," he added. However, Asia has become more resilient against financial turmoil, with an improved current account balance and sufficient accumulation of foreign reserves, than it was during the Asian financial crisis of the late 1990s, he added. "It's always a good thing to be very vigilant on this broader capital movement," he added. "I'm also trying to enhance our regional financial co-operation efforts, including that of ASEAN+3," he said, referring to a grouping of China, Japan and South Korea with southeast Asian nations.

☆ China is using civilian ships to enhance navy capability and reach
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: +8 min

Aerial view of fishing boats setting sail to South China Sea for fishing on August 16, 2022 in Yangjiang, Guangdong Province of China. Hundreds of fishing boats anchored for months at a time among disputed islands in the South China Sea. The civilian vessels do more than just augment the raw numbers of ships, performing tasks that would be difficult for the military to carry out. "Because they are ostensibly civilian fishing vessels, navies' ships are unable to deal with them lest China accuse the Philippines of provoking an incident and using force against civilians," he said. In the event of a conflict, China's use of civilian vessels would complicate the rules of engagement, he said.

Sri Lanka is struggling with its worst economic crisis in more than seven decades, which has led to shortages of essentials and the ouster of a president. BILATERAL DEBT TALKSSri Lanka also needs to renegotiate debt with bilateral creditors such as China, Japan and India. As a middle-income country, according to the World Bank, Sri Lanka is not able to engage in talks with bilateral creditors under the G20 common framework for debt treatments. Sri Lanka's total foreign currency debt of $38.7 billion amounts to 48.2% of GDP, the latest IMF report showed in March. The central bank governor said that the country has paid Sri Lanka Development Bonds in both dollar and local currency.

☆ Japan to support Sri Lanka's debt restructuring negotiations
▼ + stars: | 2022-09-23 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

Reaching an agreement with creditors is key to Sri Lanka securing a $2.9 billion bailout package from the International Monetary Fund (IMF). "Japan stands by Sri Lanka in support of the debt restructuring negotiation process so that Sri Lanka can reach the final agreement with the IMF," Ambassador Hideaki Mizukoshi said in an interview. Although Japan will support the debt negotiation process, Mizukoshi said that talks on large infrastructure projects will only be resumed after Sri Lanka's economy recovers. Japanese firms have been investing in Sri Lanka since the 1970s, including in the electronics, ceramics and engineering sectors. "We hope that the environment for investment to Sri Lanka will improve."

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