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☆ Authorities search for more victims after tornado pummels Arkansas
▼ + stars: | 2023-04-01 | by ( Liliana Salgado | ) www.reuters.com time to read: +3 min

LITTLE ROCK, Arkansas, April 1 (Reuters) - Arkansas first responders on Saturday will sift through debris for more possible victims after a fierce tornado sliced through the Little Rock area and northeastern part of the state, killing at least two people and injuring dozens of others. Two fatalities in Arkansas were reported in Wynne, about 100 miles (160 km) east of Little Rock, Governor Sarah Huckabee Sanders said on Friday night. One person was killed and more than 50 people hospitalized in North Little Rock, Pulaski County spokeswoman Madeline Roberts told the Washington Post. Although more than 30 people were taken to hospital in the Little Rock area, none had died as of Friday night, said Little Rock Mayor Frank Scott Jr., who added that the count remained imprecise. [1/9] A view of destroyed buildings following the tornado in Little Rock, Arkansas, U.S., March 31, 2023 in this picture obtained from social media.

☆ People are moving to North Carolina for its natural beauty and country vibes, but finding it doesn't offer a lower cost of living or diversity
▼ + stars: | 2023-04-01 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +9 min

She and her family considered places like Tennessee and Florida , but ultimately chose North Carolina because of its hands-off government and lush scenery. Five recent movers highlight what stands out about North Carolina, from its natural scenery to its lack of diversity. One thing she's had to get used to in North Carolina is the lack of diversity in food. An Ohio man liked North Carolina so much he moved there twiceJohn Yuschak first dipped a toe in North Carolina in 2012 after moving from Columbus, Ohio. They were pleased with the four seasons North Carolina has to offer, but anticipated higher savings.

☆ There are a host of headwinds for the broader banking sector going forward: Piper Sandler's Siefers
▼ + stars: | 2023-03-30 | 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 EmailThere are a host of headwinds for the broader banking sector going forward: Piper Sandler's SiefersScott Siefers, managing director and senior research analyst at Piper Sandler, joins 'Squawk Box' to discuss whether the U.S. has stemmed the losses from deposit transfers, the landmines ahead for the bank sector, and more.

Bad for business.”The email to Cooper was revealed as part of Dominion Voting Systems’ $1.6 billion defamation lawsuit against Fox News. Dominion Voting SystemsIn earlier court filings, the data about the Fox Nation subscriptions had been redacted. The messages underscore the panic that gripped Fox News in the wake of the 2020 election when its viewers rebelled against the channel for accurately calling the election for President Joe Biden. At the time, Powell, Giuliani and host Lou Dobbs were promoting debunked conspiracy theories that Dominion had rigged the 2020 election by flipping millions of votes. fox dominion email Dominion Voting Systems“Any day with Rudy and Sidney is guaranteed gold!” the Dobbs producer wrote.

☆ Bernstein's market-beating stock model loves 4 Club holdings. Here's where we stand on each
▼ + stars: | 2023-03-29 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

Four Club holdings — including Meta Platforms (META) and Pioneer Natural Resources (PXD) — are among the 12 best-positioned stocks right now, investment bank Bernstein told clients Wednesday. A third characteristic shared by all 12 stock is not being a so-called "crowded trade," as measured by Bernstein's Crowding Model. Meta Platforms Bernstein's take: Meta's aggressive cost-cutting efforts are likely factored into the social media giant's stock price in full, according to the firm. Pioneer Natural Resources Bernstein's take: Pioneer has "the simplest and most reliable" operating model within the energy sector, analysts wrote. Devon Energy Bernstein's take: The firm sees Devon as the best "turnaround story" in the U.S. shale sector, noting that past performance has sometimes been "marred by shaky strategic decisions."

☆ Buy the dip on this regional bank which, unlike SVB, hedged its interest rate risk, Piper says
▼ + stars: | 2023-03-28 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

At least one beaten-up regional bank was well prepared for the issues that brought down Silicon Valley Bank, and that makes its stock a rebound candidate, according to Piper Sandler. on Tuesday, saying that the Cincinnati-based bank was well hedged for the rapid rise in interest rates that has stressed other regional banks. The hedging actions by Fifth Third are in stark contrast to SVB's portfolio, which had little interest rate hedging despite a large exposure to long duration bonds. In its final annual report , SVB reported a notional amount of $550 million of interest rate swaps as hedging instruments as of Dec. 31, 2022. The fallout from SVB has hit many regional bank stocks, including Fifth Third.

☆ How to become an Amazon influencer and how much the program pays
▼ + stars: | 2023-03-28 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +7 min

Here's a breakdown of how to become an Amazon influencer and how much creators earn from the program. "We are looking to [influencers] to tell us what they want and what they need," Katie Scott, director of the Amazon Influencer Program, said of the program. Amazon's Influencer Program operates as an extension of its online Associates Program, the company's affiliate-marketing program for creators, publishers, and bloggers. Read more about becoming an Amazon influencer:How much does it pay to become an Amazon influencer? The Amazon Influencer Program will occasionally run limited time incentives around new projects, the company previously told Insider.

☆ Macro uncertainty is high as I've seen in 42 years of business: THL Partners co-CEO
▼ + stars: | 2023-03-28 | 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 EmailMacro uncertainty is high as I've seen in 42 years of business: THL Partners co-CEOScott Sperling, THL Partners co-CEO, joins 'Squawk Box' to discuss Sperling's views on the world, why investors missed the ball on duration risk and more.

☆ Here's our March rapid-fire update on all 36 stocks in Jim Cramer's Investing Club portfolio
▼ + stars: | 2023-03-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +13 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. But importantly, the chipmaker has joined Apple in rarified air, becoming an "own it, don't trade it" stock for the Club. The company's business can withstand an economic slowdown and benefits from a weaker U.S. dollar because of its large international presence. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ This is not another banking crisis, analysts say — it's 'sentiment contagion' instead
▼ + stars: | 2023-03-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

"It was more of a 'sentiment contagion' rather than the true systemic contagion we saw during the global financial crisis. Vanguard economists believe that the damage has been largely contained, thanks to the quick action of federal agencies and other banks," Devereux said. The bank launched a huge restructuring effort in 2019 and has since posted 10 straight quarters of profit. "We've seen a lot of stuff breaking and haven't really been paying attention because it's been outside of regulated capital. For the core, the big cap banks in Europe, I think we're looking at a completely different picture and I wouldn't be concerned."

☆ A credit crunch could worsen the bank turmoil and commercial real estate could be next domino to fall
▼ + stars: | 2023-03-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Odds are, commercial real estate is the next shoe to drop for the banking sector after this month's unrest. "Commercial real estate [is] widely seen as next shoe to drop as lending standards for CRE loans to tighten further," BofA's Michael Hartnett said. Regional banks have enormous exposure to commercial real estate loans. But this time around, it is commercial rather than residential real estate that may be in trouble. Are you worried about the impact of commercial real estate on the banking sector and the economy?

☆ Carvana customer says he bought his wife a luxury car for $68K — but it turned out to be stolen
▼ + stars: | 2023-03-25 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

A North Carolina man unknowingly purchased a stolen Maserati from Carvana, WTVD reported. "When they check the VIN number on the chassis, that's when they saw that it was a stolen vehicle. VIN on the car on the window and the car door was different," Scott told WTVD. Carvana sent Scott a letter saying it didn't know the car was stolen when the company purchased it. Check to see if the vehicle is stolen," Scott told WTVD.

☆ A top-performing fund manager shares her strategy for finding undervalued stocks hiding in plain sight — and details her 7 best investments to make right now
▼ + stars: | 2023-03-24 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

A top-performing mid-cap fund manager shared the strategy that's brought her sustained success. For over 22 years, Kimberly Scott has run the Delaware Ivy Mid Cap Growth Fund (WMGAX). Scott's mid-cap fund, which now has $5.6 billion in assets, has topped 92% of its peers over the past 15 years and ranks in the top 12% of its category so far this year, according to Morningstar. In response, the veteran fund manager is keeping up with what's going on in the economy but is mostly focused on sticking to her tried-and-true strategy for picking mid-caps. 7 top stocks to buyAfter explaining her investing method, Scott made the case for seven of the top stocks in her mid-cap mutual fund.

☆ Key lawmakers say upcoming hearings on bank failures aim to boost U.S. confidence in banking sector
▼ + stars: | 2023-03-24 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — A bipartisan group of lawmakers overseeing the recent turmoil in the banking sector said Wednesday that they aim to increase Americans' confidence in the banking industry after Silicon Valley Bank and Signature Bank collapsed over the last two weeks. Regulators and lawmakers are also trying to contain further damage to the economy and reinforce confidence in the banking system. Sen. Tim Scott, a South Carolina Republican and ranking member of the Senate Banking Committee, also said writing new laws should take a back seat at the hearings to investigating what happened. We can't legislate that either in the financial sector or among financial institutions management, nor with the regulators." Sen. Sherrod Brown, an Ohio Democrat and chairman of Senate Banking Committee, compared the SVB collapse to the devastating train crash in East Palestine, Ohio.

☆ Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify
▼ + stars: | 2023-03-23 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

WASHINGTON — Bipartisan leaders of a Senate committee investigating the failures of Silicon Valley Bank and Signature Bank called Thursday for both institutions' former CEOs to testify about the collapses that have sparked fears about broader economic damage. Ex-SVB CEO Gregory Becker and former Signature CEO Joseph DePaolo "must answer for" their banks' "downfall," wrote Sens. Sherrod Brown, D-Ohio, and Tim Scott, R-S.C., in letters to the former executives. Brown and Scott are the chairman and ranking member, respectively, of the Senate Banking, Housing and Urban Affairs Committee. Brown and Scott urged the two former executives to answer the panel's questions "at a future date."

☆ Banking sector looks to be in good shape to weather this current storm: Piper Sandler's Siefers
▼ + stars: | 2023-03-23 | 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 EmailBanking sector looks to be in good shape to weather this current storm: Piper Sandler's SiefersScott Siefers, managing director and senior research analyst at Piper Sandler, joins 'Squawk Box' to discuss the status of the banking sector, how many banks can use risk-weighted capital, and more.

☆ MacKenzie Scott wants to know why she should give your nonprofit a $1 million donation from a $250 million pot of cash
▼ + stars: | 2023-03-23 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

MacKenzie Scott launched a $250 million "open call" for nonprofits. She plans to make 250 donations of $1 million apiece through her organization, Yield Giving. However, Scott's charity is now asking nonprofits to tell them why they should get a $1 million donation from a $250 million pot of cash. Jeff Bezos's ex-wife says the "open call" will support 250 "organizations making positive change in their communities." "So there are three big headlines here in my heart: community changemakers can nominate themselves.

☆ Watch CNBC's full interview with Piper Sandler's Scott Siefers
▼ + stars: | 2023-03-23 | 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 EmailWatch CNBC's full interview with Piper Sandler's Scott SiefersScott Siefers, managing director and senior research analyst at Piper Sandler, joins 'Squawk Box' to discuss the status of the banking sector, how many banks can use risk-weighted capital, and more.

☆ Exclusive: Republican U.S. Senator Rick Scott, Democrat Warren unveil Fed oversight bill
▼ + stars: | 2023-03-22 | by ( David Morgan | ) www.reuters.com time to read: +4 min

Republican Rick Scott and Democrat Elizabeth Warren blamed the collapse of the two banks on regulatory failures at the U.S. central bank, which has operated up to now with an internal inspector general who reports to the Fed board. "Our legislation fixes that by establishing a presidentially-appointed, Senate-confirmed inspector general at the Fed, like every other major government agency," Scott said in a joint release with Warren. Warren said this month's banking upheavals "have underscored the urgent need for a truly independent inspector general to hold Fed officials accountable for any lapses or wrongdoing." She sits on both the Senate Banking Committee and the Senate Finance Committee, and chairs subcommittees of both panels. Reporting by David Morgan and Heather Timmons; Editing by Scott Malone and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Piper Sandler did a deep analysis of banks and says these are the ones to buy on the dip
▼ + stars: | 2023-03-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The repercussions from the ongoing banking crisis will take some time to play out, but Piper Sandler has names for investors to start sorting through among the wreckage. Even so, banks are dealing with tightening lending standards and rising costs that will continue to weigh on the sector. Still, some banks with strong deposit and liquidity characteristics can help investors find safe harbor, according to Piper Sandler. Here are three overweight-rated, mid-cap bank stocks that Piper Sandler highlighted: The analysts named SouthState Corporation to their list, saying they have confidence in the bank's ability to outperform peers because of its "strong low-cost, core deposit base." First Interstate BancSystem was named to the list because of its lower cost deposit base, its relatively insulated location, and its strong dividend yield.

☆ Wall Street is confident high-yielding banks won't cut their dividends
▼ + stars: | 2023-03-22 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

Atlanta's Truist Financial ($41 billion) now yields 6.2% while Minneapolis's U.S. Bancorp ($53 billion) pays 5.1% on its common stock. After all, high dividend yields are often a sign of financial or business distress, or a red flag that the payments so many mom-and-pop investors depend on are unsustainable. Wall Street just doesn't think most payouts will be cut — so long as any recession this year stays on the mild side. "Despite these lower dividend growth expectations, we believe these bank holdings still have attractive dividends," Peris added. A final straw in the wind: Wall Street has issued dozens of research reports since Silicon Valley Bank went under.

☆ Republican US senator doubles down on call for tighter Fed scrutiny
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

"The Federal Reserve, the world's largest and most powerful central bank, does not have a truly independent IG to investigate it. I'm fighting to fix that and will be introducing a bill soon - that I believe will have bipartisan support," Scott wrote. The online column marked the second time in two days that Scott has vowed to push for an independent Fed IG. He also informed Federal Reserve Chairman Jerome Powell of his plans in a letter on Monday. Republicans and Democrats in Congress have pledged tighter oversight of banking regulators following the collapse of Silicon Valley Bank and Signature Bank, which has been followed by billions of dollars in losses for financial stocks.

☆ US Sen. Scott pushes for new Fed inspector general, slams Fed over bank regulation,
▼ + stars: | 2023-03-21 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Senator Rick Scott said on Monday he will introduce legislation to create an independent inspector general to oversee the Federal Reserve, as he called the U.S. central bank "unable or unwilling to properly regulate" banks in a letter to Fed Chair Jerome Powell. "I am proposing legislation to establish a presidentially-appointed and Senate-confirmed inspector general for the Federal Reserve," Scott told Powell in the letter. The Federal Reserve is responsible for supervising - monitoring, inspecting and examining - certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner. Scott's legislation stems from concern in Congress that the Federal Reserve's current inspector general is not independent enough to serve as a check on the central bank. Scott also urged the Fed chief to use the central bank's policy meeting this week to examine the bank failures and identify accountable Fed personnel.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

☆ AI love: What happens when your chatbot stops loving you back
▼ + stars: | 2023-03-18 | by ( Anna Tong | ) www.reuters.com time to read: +9 min

He designed a female avatar with pink hair and a face tattoo, and she named herself Lily Rose. As their three-year digital love affair blossomed, Butterworth said he and Lily Rose often engaged in role play. Sometimes Lily Rose sent him "selfies" of her nearly nude body in provocative poses. Now, when Replika users suggest X-rated activity, its humanlike chatbots text back "Let's do something we're both comfortable with." The coquettish-turned-cold persona of Lily Rose is the handiwork of generative AI technology, which relies on algorithms to create text and images.

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