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☆ Tax write-offs small-business owners shouldn't forget
▼ + stars: | 2023-04-10 | by ( Alexandra York | ) www.businessinsider.com time to read: 1 min

1. Business equipmentLucia Diaz says paper and technology can be written off as business expenses. Courtesy of DiazAnything that you use to run your business could be a tax write-off, or an expense that can be claimed as a deduction to lower your taxable income, four small-business owners told Insider. This includes all materials you purchase throughout the year to create your products or offer your services. For example, Lucia Diaz, the founder of the eponymous Latina-focused art company, said the paper she used to create her stationery and cards, printer ink, shipping labels, packaging supplies, and business cards all qualified as write-off expenses.

☆ Meet the real-life manager of the luxury hotel in Sicily where 'The White Lotus' was filmed, with rooms starting at $2,000 a night
▼ + stars: | 2023-04-09 | by ( Hannah Towey | ) www.businessinsider.com time to read: +6 min

Lorenzo Maraviglia is the general manager of the hotel where "The White Lotus" Season 2 was filmed. He told Insider what the show gets right about his job and where it embellishes reality. That's because the renovated 14th-century convent overlooking the Ionian Sea was the central filming location of the hit-TV drama — and it's all hotel guests want to talk about. "It's funny because in "The White Lotus," Jennifer Coolidge gets killed on the cruise — so I don't know how inspiring that can be." Sabrina Impacciatore plays the hotel manager Valentina in "The White Lotus" season 2.

☆ US job growth expected to moderate but remain at brisk pace in March
▼ + stars: | 2023-04-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Economists said the revisions brought the claims series closer to other data that have suggested the labor market was losing speed. Surveys from the Institute for Supply Management this week offered a downbeat assessment of the labor market. The labor market is expected to significantly loosen up starting in the second quarter as companies respond more to a slowdown in demand caused by the higher borrowing costs. Small businesses, like restaurants and bars, have been the main drivers of job growth since the recovery from the pandemic. "This presents a lot of downside risks for the labor market," said Thomas Simons, an economist at Jefferies in Bloomfield, New Jersey.

☆ US economy still churning out jobs at brisk clip; wage pressures subsiding
▼ + stars: | 2023-04-07 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Labor market tightness is drawing more people into the workforce, with 480,000 entrants last month, which could help to further restrain wage growth. The unemployment rate for Blacks dropped to an all-time low of 5.0%. Economists expect the labor market to loosen up considerably starting in the second quarter as companies respond more to slowing demand caused by the higher borrowing costs. Details of the household survey from which the unemployment rate is derived were upbeat. The employment-to-population ratio, viewed as a measure of an economy's ability to create employment, increased to 60.4% from 60.2% in the prior month.

☆ CNN insiders say CEO Chris Licht is standing behind star anchor Don Lemon after reported allegations of misogyny
▼ + stars: | 2023-04-07 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +6 min

CNN is responding to a Variety article accusing Don Lemon of misogyny and other problematic behavior. "CNN This Morning," which Lemon hosts with Poppy Harlow and Kaitlan Collins, was launched in November, part of a bet by CNN parent Warner Bros. "CNN This Morning" averaged 359,000 viewers in the first quarter, or when the HLN simulcast is included, 438,000 viewers. Collins, meanwhile is getting a new primetime slot on CNN, the network confirmed to the New York Post. Lemon had suggested on "CNN This Morning" that Nikki Haley was not a viable presidential candidate because she "isn't in her prime."

☆ U.S. weekly jobless claims fall; layoffs jump in March
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +4 min

The government revised data for some prior years and introduced new seasonal factors for both initial and the so-called continuing claims. Surveys from the Institute for Supply Management this week suggested that the labor market was fraying at the edges. LABOR MARKET LOOSENINGThe Labor Department reported on Tuesday that job openings fell below 10 million at the end of February for first time in nearly two years. The claims data has no bearing on March's employment report, which is scheduled to be released on Friday. Cooling labor market conditions could allow the Fed to halt its fastest interest rate hiking cycle since the 1980s.

☆ CNN staffers are divided after a bombshell report accuses Don Lemon of misogyny. Insiders say it's 'another shit show' for network chief Chris Licht.
▼ + stars: | 2023-04-06 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +5 min

CNN is responding to a Variety article accusing Don Lemon of misogyny and other problematic behavior. CNN is defending Don Lemon after a bombshell report by Variety about the network's star, while insiders are speculating about his ability to survive the latest blow. "CNN This Morning," which Lemon hosts with Poppy Harlow, and Kaitlan Collins, was launched in November, part of a bet by CNN parent Warner Bros. "CNN This Morning" averaged 359,000 viewers in the first quarter, or when the HLN simulcast is included, 438,000 viewers. Lemon had suggested on "CNN This Morning" that Nikki Haley was not a viable presidential candidate because she "isn't in her prime."

☆ US services sector growth slows; price pressures abating
▼ + stars: | 2023-04-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Despite the pullback in growth in the services sector, Anthony Nieves, chair of the ISM Services Business Survey Committee noted that "the majority of respondents report a positive outlook on business conditions." The services sector is being supported by consumers switching spending from goods, which are typically bought on credit. ISM services PMITRADE DEFICIT WIDENSWhile accommodation and food services businesses reported that "traffic is recovering and nearly flat," they added "we are optimistic about the coming months." With demand cooling, services sector inflation continued to subside, though it remains elevated. Services sector employment growth also moderated.

☆ US private payrolls growth slows in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 200,000. The government reported on Tuesday that there were 9.9 million job openings at the end of February. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, the government report is likely to show private payrolls increased by 215,000 jobs in March.

☆ U.S. trade deficit widens in February as goods exports fall
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters) - The U.S. trade deficit widened more than expected in February as exports of goods declined, suggesting that trade could drag on economic growth in the first quarter. The trade deficit increased 2.7% to $70.5 billion, the Commerce Department said on Wednesday. Consumer goods imports fell $3.7 billion, mostly reflecting decreases in cell phones and other household goods, pharmaceutical preparations as well as cotton apparel and household goods. Adjusting for inflation, the goods trade deficit widened 2.7% to $104.6 billion. A smaller trade deficit was one of the contributors to the economy's 2.6% annualized growth rate in the fourth quarter.

☆ US private payrolls miss expectations in March -ADP
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 5 (Reuters) - U.S. private employers hired far fewer workers than expected in March, suggesting that the labor market was cooling. Private employment increased by 145,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment increasing 200,000. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, private payrolls likely increased by 215,000 jobs in March.

The Chinese Embassy in Washington called self-ruled Taiwan "an inalienable part of China" and said the one-China principle was an "overwhelming trend" internationally. When Taiwan temporarily averted a split with Honduras after President Xiomara Castro took office in January 2022, U.S. State Department officials remained wary. The Biden administration is also keeping a close eye on tiny Belize for any cracks in its Taiwan relationship. Two U.S. officials said Washington was putting less stock in Taiwan maintaining its diplomatic allies in favor of efforts to increase its participation in international organizations. While denied a seat in the United Nations, Taiwan is a member of the WTO and the Asia-Pacific Economic Cooperation forum.

☆ U.S. service sector slows in March; inflation cooling - ISM survey
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

It was the first time since 2009 that all subcomponents of the manufacturing PMI fell below the 50 threshold. The services sector is being supported by consumers switching spending from goods, which are typically bought on credit. With demand cooling, services sector inflation continued to subside, though it remains elevated. The services sector is now at the heart of the fight against inflation as services prices tend to be stickier and less responsive to interest rate increases. Some economists view the ISM services prices paid gauge as a good predictor of personal consumption expenditures (PCE) inflation.

☆ Factbox: Diplomatic competition between Taiwan and China
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

April 5 (Reuters) - Taiwan and China have engaged for years in competition for diplomatic recognition, but the pendulum has long swung decisively in Beijing's favour. Honduras last month ended its decades-long relationship with Taiwan and said it only recognised China, leaving Taiwan with formal diplomatic relations with just 13 countries. Here are some facts about the diplomatic feud between Taiwan and China:* Following the communist revolution in China in 1949, the defeated Republic of China government fled to Taiwan, insisting that it remained the sole legal representative of the Chinese people. China says Taiwan is merely one of its provinces and only Beijing can represent the island on the world stage. * Some countries have swapped between Taiwan and China more than once, including Liberia and the Central African Republic.

☆ U.S. job openings lowest in nearly two years in February
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, April 4 (Reuters) - U.S. job openings in February dropped to the lowest level in nearly two years, suggesting that the labor market was cooling. Job openings, a measure of labor demand, decreased 632,000 to 9.9 million on the last day of February, the lowest level since May 2021, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday. Data for January was revised lower to show 10.6 million job openings instead of the previously reported 10.8 million. Economists polled by Reuters had forecast 10.4 million job openings. Reporting by Lucia MutikaniOur Standards: The Thomson Reuters Trust Principles.

☆ Hollywood film and TV writers are preparing for a strike. Here's how Disney, Netflix, and other entertainment giants could weather a work stoppage.
▼ + stars: | 2023-04-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

The writers guild asked its members to authorize a strike, which would come at a risky time for Hollywood. Netflix, Amazon, and Disney have content stockpiles that could help them through a work stoppage. A Hollywood writers strike is looming at a precarious time for the media and entertainment industry. During that 100-day strike, more than 60 TV shows shut down and ratings and ad sales dropped. The landscape of entertainment options is "much more competitive than it was during the last writers strike," media consultant Peter Csathy told insider.

☆ US manufacturing sector weakest in nearly three years in March -ISM
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Monday that its manufacturing PMI fell to 46.3 last month, the lowest reading since May 2020, from 47.7 in February. It was the fifth straight month that the PMI remained below the 50 threshold, which indicates contraction in manufacturing. Reports last month also showed orders for capital goods excluding aircraft eking out a small gain in February as did manufacturing output. But it noted that manufacturing depending on bank credit also "tend to have larger firms that other things equal will have an easier time finding alternative sources of capital." The ISM survey's forward-looking new orders sub-index fell to 44.3 last month from 47.0 in February.

☆ Saudi money is flowing to US media and entertainment, from Live Nation to LIV Golf, 5 years after Jamal Khashoggi's murder: 'The ice has thawed'
▼ + stars: | 2023-04-03 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +20 min

Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment. Insider identified some key people connecting Middle East investors with American companies. Saudi Arabia is trying to pitch itself to the world as a cultural and economic reformer and spur tourism. Vince McMahon's WWE has a long-term partnership with the Kingdom of Saudi Arabia, with a major live WWE event there slated for May. Vince McMahon's WWE was one of the first US companies to create unique events in Saudi Arabia.

☆ 9 Middle Eastern funds and investors pouring money into US media, sports, and entertainment
▼ + stars: | 2023-04-03 | by ( Lucia Moses | Claire Atkinson | ) www.businessinsider.com time to read: +9 min

Governments and investors in the Middle East are pouring money into Western media and entertainment. Sovereign funds and other entities in Saudi Arabia, Qatar, and the UAE are pouring millions into US media and entertainment, and they're finding plenty of takers. The channels for money from Saudi Arabia and other parts of the Middle East are complex. Insider broke down the key entities — their owners, leaders, and high-profile investments and joint ventures — in the top three Middle Eastern nations pouring money into US entertainment and media. It describes itself as the largest media company in the Middle East and North Africa and runs one of the largest TV news channels, Al Arabiya.

☆ U.S. consumer spending slows in February; inflation cooling
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% last month, the Commerce Department said on Friday. Economists polled by Reuters had forecast consumer spending gaining 0.3%. Consumer spending also slowed because of modest income gains as the boost from the biggest cost of living adjustment since 1981 for Social Security beneficiaries in January faded. Excluding the volatile food and energy components, the PCE price index climbed 0.3% after increasing 0.5% in January. The so-called core PCE price index rose 4.6% on a year-on-year basis in February after gaining 4.7% in January.

☆ U.S. consumer spending retreats in February; inflation cools
▼ + stars: | 2023-03-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The slowdown in consumer spending reported by the Commerce Department on Friday followed the largest gain in nearly two years in January. Consumer spending, which remains supported by a tight labor market, appears on track to pick up this quarter after growing at its slowest pace in 2-1/2 years in the fourth quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% last month. In the 12 months through February, the PCE price index advanced 5.0% after rising 5.3% in the 12 months through January. The so-called core PCE price index rose 4.6% on a year-on-year basis in February after gaining 4.7% in January.

☆ U.S. weekly jobless claims still low; corporate profits fall in Q4
▼ + stars: | 2023-03-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 198,000 for the week ended March 25, the Labor Department said. Claims have remained very low, bouncing around in a tight range despite high-profile layoffs in the technology industry. The so-called continuing claims covered the period during which the government surveyed households for the unemployment rate for March. Continuing claims increased moderately between the February and March survey weeks. The unemployment rate was at 3.6% in February.

☆ US pending home sales rise for third straight month; loan demand increases
▼ + stars: | 2023-03-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

WASHINGTON, March 29 (Reuters) - Contracts to buy U.S. previously owned homes increased for a third straight month in February, raising cautious optimism that the housing market slump could be bottoming out. Economists polled by Reuters had forecast contracts, which become sales after a month or two, would fall 2.3%. The surprise increase occurred despite a rise in mortgage rates from early February through early March, according to data from mortgage finance agency Freddie Mac. Before the recent rise, mortgage rates had mostly been on the decline since November. The housing market outlook is, however, uncertain because the financial market stress has caused banks to tighten lending standards, which could make it harder for prospective homebuyers to borrow.

☆ Disney layoffs are expected to hit ABC News this week, sources say, with scores of roles to be eliminated following cuts from TV, engineering, and metaverse teams
▼ + stars: | 2023-03-29 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +5 min

Cuts at Disney's ABC News are coming before the end of the week, according to sources. Disney firings are expected to affect its ABC News division this week, according to two company insiders familiar with the situation. TV production and acquisition execs at Hulu, Freeform, and 20th Television were also impacted, according to a report in Deadline. Leaders will be communicating the news directly to the first group of impacted employees over the next four days. I want to thank each of you again for all your many achievements here at The Walt Disney Company.

☆ US consumer confidence rises; house price inflation slows
▼ + stars: | 2023-03-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index rose to 104.2 this month from a reading of 103.4 in February. Housing affordability, which deteriorated as mortgage rates surged in response to the Fed's fight against inflation, is starting to gradually improve as house price gains continue to moderate. Annual house price growth remained strong in the Southeast, with double-digit gains in Miami and Tampa. The region had experienced rapid house price increases in prior years. Goods trade balanceThe Commerce Department also reported that wholesale inventories rose 0.2% in February after falling 0.5% in January.

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