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☆ Google employee said pitching new AI products wasn't worth it because of the company's 'bureaucratic roadblocks,' report says
▼ + stars: | 2023-02-15 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Former and current Google staff told The Information the firm had taken a cautious approach to AI. One current employee said "bureaucratic roadblocks" made pitching new AI products difficult. Google has announced plans to launch an AI-boosted version of Bing and unveiled an AI chatbot. Former and current Google employees told the outlet the company had taken a cautious approach to AI development internally. At least twelve former Google employees have reportedly migrated to OpenAI.

Manufacturing output for the three months from November 2022 through January 2023 was almost 1.8% lower than in the three months between March and May 2022. Chartbook: U.S. manufacturing productionThe weakness of manufacturing production is consistent with business surveys which have showed activity falling every month since November. Since inflation was running faster than this, however, the volume of new orders had likely fallen in real terms by several percentage points. Related columns:- Labour hoarding exaggerates strength of U.S. job market (Reuters, February 6, 2023)- U.S. manufacturing is in recession (Reuters, February 1, 2023)- Recession now or later? Unenviable alternatives for 2023 (Reuters, January 26, 2023)- U.S. manufacturing has probably entered recession (Reuters, January 19, 2023)John Kemp is a Reuters market analyst.

SummarySummary Companies Spain's new restructuring law faces looming testCelsa caught between creditors and shareholdersSuccessful outcome seen lifting Spain outlookLONDON/MADRID, Feb 15 (Reuters) - Spain's new restructuring law is just over four months old and already being tested as the economy slows, with companies and officials hopeful it will help cut high bankruptcy rates. Now, a restructuring plan for Celsa, Spain's largest private industrial group with debt worth roughly 2.8 billion euros ($3.04 billion), is going through the courts. LITMUS TESTA court-sanctioned restructuring plan in December for Spanish frozen food retailer Xeldist Congelados allowed it to receive fresh capital and save jobs in a first success for the new law. "The Celsa case shows that creditors can push for a restructuring plan and request the appointment of an expert to assist in the negotiations," said Juan Verdugo, partner at law firm Garrigues. Spain is playing catch up after the EU in 2019 told member states to improve restructuring toolkits.

☆ Analysis: U.S. stock rally faces uphill climb after mixed inflation data
▼ + stars: | 2023-02-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 27, 2023. Tuesday's closely watched inflation report on U.S. consumer prices showed the smallest annual price increase since late 2021. But the data did little to dispel expectations that the Federal Reserve will have to continue raising rates higher and keep them elevated for longer to drive inflation lower. The CPI data continues the trend of moderating annual inflation rates that have helped propel this year's rally in risk assets. Some have also expressed concern about investor positioning, which has grown stretched in recent weeks as market participants piled into the stock rally.

☆ 3 suspicious objects have been downed across North America this week. Officials have no idea where 2 of the UAP came from and the pilots who shot them down can't agree on what they even look like.
▼ + stars: | 2023-02-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +10 min

US fighter aircraft shot down an object threatening airspace over Alaska yesterday. On Saturday, another unknown object, described as "cylindrical," was shot down over Canada. Here is what we know about the object shot down on Friday. The object shot down on Saturday was spotted in the Northern Canadian territory of Yukon. It is unclear if the object shot down off the Alaskan coast was of similar size or shape.

Forty-seven pro-democracy figures in Hong Kong have been accused of a conspiracy to commit subversion in a landmark political case. Benny Tai, 58, was a professor of law at the University of Hong Kong. Pro-democracy primary Pro-democracy candidates held a primary vote ahead of the upcoming Legislative Council election. The 47 defendants helped organize or participated in this event. New election rules announced China announced new rules for Hong Kong elections, limiting candidates to only those deemed loyal to Beijing.

☆ Karen Firestone: Investors can make money during pessimistic times. Here's how
▼ + stars: | 2023-02-01 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

One of the more senior brokers told me that the most important lesson I could learn about the stock market was – drumroll, please – "Buy low. By the second week in March, the S & P 500 had dropped 12% and the Nasdaq Composite had fallen about 20%. In mid-June, the S & P had sunk 23.4% from its Jan. 3 peak of 4,796, and the Nasdaq had collapsed more than 30%. On Oct. 12, the S & P closed at 3,577, down 25.4% from its peak. Since the market low in October, about half of the cohort has climbed 20%.

☆ Peloton surges 21% after its CEO says the fitness company is on track for an 'epic comeback'
▼ + stars: | 2023-02-01 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Peloton spiked Wednesday after the company published earnings and its CEO teased a comeback. The company narrowed its net losses, but it's the eighth straight quarter it has failed to turn a profit. "This was by far our best quarterly performance in my twelve months with Peloton," CEO Barry McCarthy said. The stationary fitness equipment maker known for its stationary bike posted $792.7 million in revenue versus analysts' estimates of $710 million. Peloton was a favorite of the pandemic, as customers flocked to the company for its at-home fitness equipment while gyms remained closed during lockdown.

☆ Stocks up, yields dip after U.S. data with Fed eyed
▼ + stars: | 2023-01-31 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Other data showed consumer confidence eased in January, with inflation expectations over the next twelve months climbing to 6.8% from 6.6% last month. Investors will also closely monitor comments from Fed Chair Jerome Powell following the announcement for clues on the path of monetary policy. Markets will also grapple with a host of U.S. economic data this week, culminating in Friday's payrolls report for January. Economic data for the euro zone showed slight growth for the fourth quarter, but further weakness is expected this year. The pan-European STOXX 600 index (.STOXX) lost 0.22% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.20%.

The Chase Aeroplan Credit Card is a better deal than it's been in a long time. You'll automatically earn 25K Elite Status when you open the card for the current calendar year and the following calendar year. On top of that, the value of Aeroplan points is above average at 1.5 cents each, per Insider's valuations. Other ways to earn Air Canada Aeroplan pointsIf you're not ready to commit to a credit card that earns points in a single loyalty program (but still want the option to earn Aeroplan points), you may do better with a card that earns transferable points. That means you'll have access to Aeroplan points when you earn rewards with popular travel cards, including:You can also transfer Marriott Bonvoy points to Air Canada Aeroplan at a 3:1 ratio, with a bonus of 5,000 Aeroplan points for every 60,000 Marriott points you transfer.

As in 2011, the GOP speaker runs a House majority full of ideologically-driven conservatives who want to use the debt limit as leverage to force budget changes on a Democratic-led Senate and White House. “It is possible we will eventually see House Republicans put forth a plan for dealing with both the debt limit and the spending problem. After 2011, the Obama White House drew a hard line when the debt limit deadline came up again in early 2013. Andrew Harnik / APAsked about Biden's position and the GOP criticisms, the White House said the president “takes a backseat to no one” on pursuing bipartisanship, but said that the no-negotiations stance from 2013 onward on the debt limit succeeded. “Everyone seems to have forgotten that there was a debt limit standoff in 2013 where Obama adopted the no-negotiation approach and prevailed with a clean debt limit,” he said.

☆ Lucid spikes 98% on speculation Saudi investment fund may buy out remaining stake in the EV maker
▼ + stars: | 2023-01-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Lucid stock skyrocketed on Friday on speculation that Saudi Arabia's Public Investment Fund would buy out the remaining stake. Saudi Arabia's PIF currently owns 65% of Lucid, and has not confirmed if it will buy the remaining shares. Shares were halted 12 times on the New York Stock Exchange Friday afternoon due to increased volatility. The fund also bought 41 million shares of Tesla around that time, but has since sold off the stake in the rival EV maker. The fund has not publicly confirmed if it will buy the remaining shares of Lucid.

☆ A couple who moved from the US to Costa Rica and saves $1,500 a month thinks more Americans should move abroad
▼ + stars: | 2023-01-27 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Zach Gerth recently moved to Costa Rica, a small country in Central America with many English speakers. Zach Gerth and Anna Sosdian's Costa Rican home. Courtesy of Zach Gerth. Courtesy of Zach Gerth. Courtesy of Zach Gerth.

Companies Genbiopro Inc FollowJan 25 (Reuters) - A maker of abortion pills and a doctor have filed lawsuits challenging state restrictions on the medication, in the first lawsuits of their kind since the U.S. Supreme Court overturned the federal constitutional right to abortion. The doctor, Amy Bryant, filed a separate lawsuit in the federal court in Durham, North Carolina, challenging state-imposed restrictions on obtaining mifepristone, which she said impeded her ability to treat patients. Medication abortions make up more than half of U.S. abortions. Misoprostol is the second drug of the two-drug regimen for medication abortion. Twelve states now ban nearly all abortions, including medication abortions.

☆ Bank of America downgrades Booking Holdings, says there's more upside for this other travel stock
▼ + stars: | 2023-01-25 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to look elsewhere in the travel sector after Booking Holdings ' recent gains, according to Bank of America. Analyst Justin Post downgraded the stock to neutral from buy, saying there's less upside after Booking's recent outperformance. The travel stock outperformed the S & P 500 , which rose more than 4% over the same time period. He lifted his booking estimates for Booking, Expedia and Airbnb above Street consensus. The company has focused on building customer loyalty with its app and Post expects that will help it going forward.

☆ Missile hit Turkish-owned ship in Ukraine's Kherson port -video, sources
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

ISTANBUL, Jan 25 (Reuters) - A Turkish-owned general cargo ship was struck by a missile in the port of the southern Ukrainian city of Kherson, sparking a fire, according to video footage from the scene and shipping sources. The missile hit the bridge of the vessel named Tuzla on Tuesday, maritime security company Ambrey said, causing the fire. A shipping source said there are twelve Turkish ships trapped in Ukrainian ports, including in Kherson, that are not covered by the U.N.-brokered Black Sea grain deal. "There has been an attack yesterday night, most probably to the port, and an explosive charge seems to have hit the ship. Turkish ships in Kherson are manned by a skeleton crew so there are no injuries or casualties," the source said, speaking on condition of anonymity.

☆ Twelve rescued after building collapses in India; more feared trapped
▼ + stars: | 2023-01-24 | by ( Saurabh Sharma | ) www.reuters.com time to read: +1 min

[1/4] Police officers and rescue workers stand on the debris of a residential apartment block after it collapsed in Lucknow, India, January 24, 2023. REUTERS/Saurabh SharmaLUCKNOW, India, Jan 24 (Reuters) - Rescue workers pulled 12 people, including two children, out of the rubble after a residential apartment block collapsed in the northern Indian city of Lucknow, but more were feared trapped inside, a local police official said on Tuesday. At least 12 more people were feared trapped, the official said, as rescue workers sought to clear rubble and debris from the site, located in a crowded and posh area of Lucknow, the capital of India's most populous state of Uttar Pradesh. Television channels showed piles of brick and concrete and police teams clearing the rubble to search for survivors. A total of 24 people were feared trapped when the building collapsed, Chauhan said.

☆ 100 Leopard tanks in 12 countries are standing by for Germany's go-ahead to be sent to Ukraine, official says
▼ + stars: | 2023-01-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Ukraine awaits German consent to receive almost 100 Leopard tanks from 12 countries, ABC News reported. International pressure has grown on German's Chancellor Olaf Scholz to grant permission to export the much-sought-after German battle tanks to Ukraine. The countries involved agreed to contribute at a summit in Germany on Friday, the unnamed official told ABC News. Poland's Defense Minister Mariusz Bɫaszczak tweeted on Tuesday that an official request to transfer the tanks had been sent. Switzerland has also opposed multiple requests from Ukraine's allies to re-export its munitions — including one request from Germany to send 35mm ammunition, as Reuters reported.

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Target, AMD, Tesla, Coinbase, Amazon & more
▼ + stars: | 2023-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by it's overweight rating on Apple shares heading into earnings on Feb. 2. Bernstein reiterates Apple as market perform Bernstein said it's "ambivalent" about Apple shares heading into earnings next month. Bernstein downgrades Advanced Micro to market perform from outperform Bernstein said it's concerned about a deteriorating PC market. Morgan Stanley upgrades Marathon Oil to overweight from neutral Morgan Stanley said Marathon Oil has "peer-leading FCF and shareholder returns." Morgan Stanley reiterates Ford as overweight Morgan Stanley said it sees opportunity for Ford to "to exercise its self-help muscle."

☆ Deutsche Bank upgrades Shopify, says stock can rally more than 20% as more brands migrate to platform
▼ + stars: | 2023-01-23 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Shopify is in vogue as brands grow increasingly interested in the e-commerce platform, according to Deutsche Bank. Analyst Bhavin Shah upgraded the e-commerce stock to buy from hold. Shah also raised his price target by $10 to $50, which implies a 23.5% upside from where Shopify closed Friday. He pointed to Mattel and Supreme as two examples of brands whose presences are helping Shopify outpace the broader U.S. e-commerce ecosystem. The pace of operating expense growth is also expected to cool in 2023, Shah said.

☆ An Easy Sheet-Pan Chicken Recipe With Roasted Fennel and Olives
▼ + stars: | 2023-01-22 | by ( Kitty Greenwald | ) www.wsj.com time to read: +1 min

Take, for example, this sheet-pan supper of lemony, crisp-skinned chicken thighs roasted with Castelvetrano olives and fennel, Mr. Wyatt’s second Slow Food Fast recipe. “I learned this from German, the butcher at Eleven Madison Park,” Mr. Wyatt said. Unlike other parts of the bird, chicken thighs won’t dry out in the intense heat required to crisp the skin. And the fennel (Mr. Wyatt’s addition) provides an anise-y sweetness that balances the briny olives and tart lemon. “All these flavors work in unison,” Mr. Wyatt said.

☆ NHL roundup: Connor McDavid lifts Oilers over Lightning
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +8 min

The Lightning received a goal and an assist from Brayden Point, and Brandon Hagel and Steven Stamkos scored. Victor Hedman posted two assists while Andrei Vasilevskiy stopped 28 shots but lost for the first time in five games. Kyle Connor scored for the Jets, who lost for the third time in their past 11 games. Matthew Tkachuk, who leads Florida with 24 goals, scored twice with the man advantage. Colton Sissons and Mattias Ekholm scored for the Predators, whose two-game win streak came to an end.

☆ Fed to deliver two 25-basis-point hikes in Q1, followed by long pause
▼ + stars: | 2023-01-20 | by ( Prerana Bhat | ) www.reuters.com time to read: +4 min

Fed officials broadly agree the U.S. central bank should slow the pace of tightening to assess the impact of the rate hikes. The Fed raised its benchmark overnight interest rate by 425 basis points last year, with the bulk of the tightening coming in 75- and 50-basis-point moves. If realized, that would take the policy rate - the federal funds rate - to the 4.50%-4.75% range. The fed funds rate was expected to peak at 4.75%-5.00% in March, according to 61 of 90 economists. Reuters Poll- U.S. Federal Reserve outlookIn the meantime, the Fed is more likely to help push the economy into a recession than not.

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

☆ Investing in Space: Looking up in 2023
▼ + stars: | 2023-01-19 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. After ending on a bit of a downer ("A year to forget for space stocks"), I'm entering 2023 with what feels like contrarian optimism. The space industry is chock full of opportunities and milestones to look forward to over the next twelve months, as the market for 21st century space companies continues to evolve and mature. Here are the top three space business news items I'm watching for and, shocker, all three are about getting to orbit. Space companies that are beyond the development phase and are expanding could distinguish themselves with investors as a discounted opportunity in a shifting market.

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