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☆ The Fed is well positioned for a soft landing, says economist Paul McCulley
▼ + stars: | 2023-06-13 | 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 EmailThe Fed is well positioned for a soft landing, says economist Paul McCulleyPaul McCulley, adjunct professor at Georgetown's McDonough School of Business and former chief economist at PIMCO, joins CNBC's Steve Liesman and 'The Exchange' to discuss a possible rate hike pause in June, the future of the Federal Reserve's hiking cycle, and ongoing recession concerns.

Persons: Paul McCulley Paul McCulley, Steve Liesman Organizations: Georgetown's McDonough School of Business

☆ EV startups conserve cash as make-or-break moment approaches. Here's where everyone stands
▼ + stars: | 2023-05-24 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +14 min

As legacy automakers increasingly ramp production of all-electric vehicles, cushioned by the profits of gas-powered models, a handful of EV startups are scrambling to conserve cash and stay in the mix. It also means the amount of cash Fisker had left as of the end of March, $652.5 million, isn't yet cause for alarm. Still, Fisker cut its production guidance for 2023 to between 32,000 vehicles and 36,000 vehicles, from 42,400 in its original plan. Or as Evercore ISI analyst Doug Dutton wrote before Fisker's earnings report, "Fisker is beginning to turn into a story of binary and 'show me' outcomes." It had $108.1 million remaining as of the end of March, but it lost $171.1 million in the first quarter .

Persons: Tesla, Rivian, Claire McDonough, Rivian's, It's, McDonough, Deutsche Bank's Emmanuel Rosner, Rosner, Sherry House, Peter Rawlinson, Bank of America's John Murphy, Murphy, Aston Martin, Henrik Fisker, Fisker, Doug Dutton, Dutton, Nikola Nikola, Trevor Milton, Nikola, Voltera, TD Cowen, Jeffrey Osborne, Osborne, Polestar Polestar, it's, Johan Malmqvist isn't, aren't, Deutsche Bank's Rosner, Lordstown, Foxconn, Foxconn doesn't Organizations: EV, Amazon, Deutsche, Lucid's, Bank of America's, BMW, Global, Magna International, Nikola, Iveco, Volvo Cars, Geely, Lordstown, Nasdaq, General Motors Locations: Georgia, Magna, Austria, U.S, Europe, North America, Nikola's, Swedish, China, Ohio, Lordstown

Debate over the US debt ceiling puts the potential of a US Treasury default in focus. Failing to do so could lead to a US Treasury default if the government becomes unable to make payments on all of its outstanding debts. "This type of default — one that occurs due to not being able to raise the debt ceiling — would be unprecedented," Steeno says. 6 ways a US Treasury default could hurt your financesHere are some of the biggest financial impacts Americans would feel in the event of a US Treasury default:1. But a Treasury default could undo any progress they've been made.

☆ Rivian reports a narrower-than-expected quarterly loss, reaffirms EV production target
▼ + stars: | 2023-05-09 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it's still on track to meet a 50,000-vehicle production target for 2023. Here's how the company did as per consensus analyst estimates by Refinitiv:Loss per share: $1.25 adjusted vs. $1.59 expected. Revenue: $661 million vs. $652.1 million expected. Rivian's net loss narrowed to $1.35 billion, or $1.45 per share, from $1.59 billion, or $1.77 per share, during the year-earlier period. Rivian said on April 3 that it built 9,395 EVs in the first quarter and delivered 7,946 vehicles to customers.

☆ On Long Island, an Artist’s Studio That Floats Among the Trees
▼ + stars: | 2023-05-05 | by ( Kurt Soller | Angela Hau | ) www.nytimes.com time to read: +1 min

Imagine a place for making things: a simple room, with little but the tools you need and the ideal never-too-bright light. They also wanted somewhere to park their car, a nearly 18-foot-long 1966 Chevy Impala Super Sport convertible. Researching bespoke garages online, the couple discovered the work of another couple, Max Worrell and Jejon Yeung, two architects in their 40s who, after meeting in their Yale graduate program, co-founded the firm Worrell Yeung in 2015. Several years ago in upstate New York, they had built a Japanese-and-Scandinavian-influenced minimalist annex with space for their clients to relax — and to store their vintage Ford Bronco. It was exactly what Burst, 62, and McDonough, 67, pictured for themselves.

☆ Tupperware has been struggling for some time. These charts show how
▼ + stars: | 2023-04-23 | by ( Alex Leeds Matthews | ) edition.cnn.com time to read: +5 min

CNN —Tupperware may be on the verge of collapse, but the 77-year-old business’ potential demise isn’t necessarily a harbinger of worsening economic conditions. Some business experts say that’s because Tupperware has failed to adapt to changing consumer behaviors. The Tupperware brand name is so iconic that it’s become shorthand for all food leftover storage. That might be part of the problem, as other brands have emerged to compete against Tupperware, sometimes at lower price points. Tupperware has historically only sold to consumers through “direct sales,” most commonly at “Tupperware parties.” These parties were gatherings where people who enjoyed the product would demo and sell the Tupperware brand to their friends and acquaintances.

☆ Fed's Cook sees a less certain outlook for future of monetary policy
▼ + stars: | 2023-04-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +2 min

Officials have signaled that they expect to raise rates by a quarter percentage point to between 5% and 5.25%, matching market expectations. But they are also unclear how much credit conditions might tighten and restrain growth as a result of the banking sector turbulence. In her remarks, Cook said that inflation has been moving down but underlying price pressures still remain strong and embedded in the economy. Cook also said the labor market remains strong but there are signs that’s also starting to slow down. “Wage growth has moderated somewhat from the rates reached about a year ago” and “indicators of hiring have slowed,” Cook said.

☆ Down-to-Earth Design: Rethinking Carbon in a Circular Economy
▼ + stars: | 2023-04-19 | 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 EmailDown-to-Earth Design: Rethinking Carbon in a Circular EconomyEco-architect William McDonough, known as the father of the Circular Economy and co-creator of the Cradle to Cradle Products Program, is one of the world's pioneering figures in green architecture and product and packaging design. He has designed industry-leading buildings for Nike Europe, YouTube, factories for Ford Motor, Herman Miller, and NASA's Sustainability Base. McDonough lays out his vision for what he calls a regenerative biosphere and circular technosphere.

☆ VA Pauses Rollout of $16 Billion Health Record System
▼ + stars: | 2023-04-14 | by ( Ben Kesling | ) www.wsj.com time to read: 1 min

Secretary of Veterans Affairs Denis McDonough says he believes a contract should have marked accountability. The Department of Veterans Affairs is holding up further rollout of a problem-plagued, multibillion-dollar electronic health record system as the contract is renegotiated. Officials from the VA and Oracle Corp., which last year acquired the company that developed the system, are in discussions about changes in the contract designed to provide the VA with a record system.

☆ EV maker Rivian misses first-quarter production estimates; shares drop
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeApril 3 (Reuters) - Rivian Automotive Inc (RIVN.O) on Monday missed first-quarter production estimates as the electric-vehicle maker grappled with supply chain constraints, sending its shares down 4% in early trade. Rivian produced 9,395 vehicles at its Normal plant in the quarter ended March, compared with Visible Alpha's consensus estimates of 10,030 vehicles. Reuters GraphicsThe Irvine, California-based company, however, reiterated its annual production target of 50,000. The electric-vehicle maker has been losing money on every vehicle it builds, and narrowly missed its annual production target of 25,000 units last year. Electric-car maker Tesla (TSLA.O) on Sunday said it delivered 422,875 vehicles in the quarter ended March, up 4% from the previous quarter.

☆ First Republic just got a $30 billion lifeline from JPMorgan and other Wall Street giants. Here's why its problems aren't over.
▼ + stars: | 2023-03-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

JPMorgan and 10 other banks are depositing $30 billion in First Republic Bank. A white knight has arrived to First Republic Bank's rescue. A consortium of America's biggest banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are depositing a collective $30 billion in First Republic. This $30 billion lifeline may not be enough to reassure investors and depositors, and it may be a stopgap measure before a sale. The $70 billion lifeline from JPMorgan announced on Sunday did little to quell investors' concerns, Dahiya noted.

☆ SVB is still looking for a buyer. Here is what we know so far.
▼ + stars: | 2023-03-13 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

The weekend came and went without a buyer for SVB Financial Group, the parent company of the failed Silicon Valley Bank. SVB Capital focuses on venture capital and credit investing and SVB Securities is its investment banking arm. Axios reported Monday morning that JPMorgan and PNC were in talks to acquire SVB Financial Group but not the failed commercial bank. SVB Securities, better known as SVB Leerink, the investment banking arm born out of SVB's 2018 acquisition of Leerink, is a very desirable business, he added. "SVB Leerink is a well-known name in the tech and healthcare space that will be attractive to someone," said Healy.

☆ Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Silicon Valley Bank's collapse has left hundreds of startups facing a cash crunch and payroll crisis. It leaves hundreds of startups that deposited their cash with the bank in turmoil, as they try to continue operating while millions in funds are locked up. Startups scramble for cashThe need for startups to make payroll is one being echoed across the VC ecosystem. In a tweet, founder Nikita Bier said: "The number of growth stage companies that had their cash at SVB is huge. Even startups that didn't bank directly with SVB have been hit by its collapse.

☆ Who will step up to buy SVB? The white knight might be a bank outside Wall Street.
▼ + stars: | 2023-03-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

SVB Bank, which catered to startups and tech founders, imploded in three days after a run on the bank. SVB Financial is reportedly looking to find a buyer by Monday. The implosion of Silicon Valley Bank means a working weekend for some bankers. SVB Financial Group is on the hunt for a buyer after regulators closed its Silicon Valley Banking business, according to Bloomberg. Though SVB's bond losses are taking up the headlines, its parent company SVB Financial has two business segments that are enticing.

☆ Silicon Valley Bank's collapse means startups and VCs face billions in losses
▼ + stars: | 2023-03-11 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

SVB's startup and VC customers are staring down huge losses after its failure. A buyer is being sought for the failed bank by Monday to avoid more calamity for startups. SVB customers stare down big lossesIn a report on Friday, the ratings agency Moody's said it expected a recovery rate of 80% to 90% for uninsured depositors. While there were likely billions in deposits withdrawn prior to SVB's closure, there's still likely to be many billions left at risk. SVB's deposits soared in recent years as it became the go-to lender in the VC ecosystem.

☆ Brands like Pepsi, Ally, Mondelēz, and Coty reveal how they've scored big returns by advertising in video games
▼ + stars: | 2023-03-09 | by ( Ryan Joe | ) www.businessinsider.com time to read: +5 min

More than half the US population plays video games, and advertisers are pouring billions into the space. Brands as diverse as Pepsi, Ally, Mondelēz, and Coty have all been successfully using video games as an advertising medium to drive big results. Advertising in video games represents a big opportunity for brands to get in front of a large, engaged audience. Video game advertising requires a lot of collaborationOne of the biggest challenges brands face when advertising in video games is getting alignment across the company. Another difficulty brands face is developing a video game campaign that's not just a one-off.

☆ The push for a bitcoin ETF is going to court. Here's what you need to know
▼ + stars: | 2023-03-06 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

The years-long push for an exchange traded fund that tracks bitcoin will finally get its day in court this week. Several different firms tried to bring a spot bitcoin ETF to market in the U.S. without success, but Grayscale Investments is taking it a step further for the future of its Grayscale Bitcoin Trust (GBTC) . The largest of those funds, the ProShares Bitcoin Strategy ETF (BITO) , now has nearly $800 million in assets under management. Over the past year, the market price of a GBTC share has fallen by roughly 60%, according to Grayscale's website. Crypto winter The excitement around a bitcoin ETF has cooled considerably along with the prices for crypto markets in general.

☆ Rivian shares plunge again on weak sales, outlook
▼ + stars: | 2023-03-01 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Shares of upstart EV maker Rivian plunged more than 16% Wednesday after ithe company reported disappointing revenue and gave 2023 delivery guidance that fell short of Wall Street hopes. Ives, who has a buy recommendation on Rivian shares, cut his 12-month price target on the stock to $25 from $37. Shares of Rivian closed Tuesday at $19.30 before Wednesday’s latest plunge took it below $18 a share. In addition, there’s been slower demand in the face of growing EV competition and EV price cuts at Ford and Tesla. Shares of Rivian closed Tuesday down 89% from its all time high in the week following its IPO in late 2021, even before Wednesday’s further slide.

☆ Ron Klain Exits the White House Stage Left
▼ + stars: | 2023-01-26 | by ( Karl Rove | ) www.wsj.com time to read: 1 min

Chief of staff Ron Klain is leaving the White House after President Joe Biden’s Feb. 7 State of the Union address. Much of the coverage frames his as a victorious exit, saying Mr. Klain departs with Mr. Biden having regained momentum after Democrats escaped a midterm shellacking. Other recent chiefs have served longer than Mr. Klain’s 25 months. Denis McDonough served four years for Barack Obama , and Andrew Card worked five years and three months for George W. Bush . Still, Mr. Klain has been a consequential chief in important respects.

☆ VA says it exceeded goal for housing homeless veterans last year
▼ + stars: | 2023-01-26 | by ( Aaron Gilchrist | Aaron Gilchrist Is An Anchor For Nbc News. | ) www.nbcnews.com time to read: +2 min

The Department of Veterans Affairs announced Thursday that it surpassed its 2022 goals for housing veterans experiencing homelessness. Veterans Affairs Secretary Denis McDonough set a goal of housing 38,000 veterans by the end of last year. The number of veterans experiencing homelessness in the U.S. has decreased by 11% since January 2020 and by more than 55% since 2010, according to the VA. The method prioritizes getting veterans into housing, then providing support services, including health care and job training, as well as any needed mental health or substance dependency interventions to help veterans stay in housing. Veterans experiencing homelessness or at risk of homelessness can call the National Center for Homeless Veterans at 877-4AID-VET (877-424-3838).

☆ Starting Tuesday, all U.S. military veterans in suicidal crisis will be eligible for free care at any VA or private facility
▼ + stars: | 2023-01-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +2 min

Beginning Tuesday, U.S. military veterans who find themselves in suicidal crisis will be eligible for free emergency medical care at any Department of Veterans Affairs facility or any private facility. Unlike for most other medical benefits, veterans do not have to be enrolled in the VA system to be eligible. The VA already provides emergency suicide care, but with the new benefit, veterans will not have to pay any copays or fees for their care. If the veterans receive care at a private facility rather than at a VA facility, the government will cover the costs. “Veterans in suicidal crisis can now receive the free, world-class emergency health care they deserve — no matter where they need it, when they need it, or whether they’re enrolled in VA care,” VA Secretary Denis McDonough said in a statement.

☆ Department of Veterans Affairs sued over decision to offer abortion counseling and certain abortions to veterans
▼ + stars: | 2022-12-14 | by ( Devan Cole | ) edition.cnn.com time to read: +3 min

CNN —A nurse at a Department of Veterans Affairs medical facility in Texas sued the department Tuesday over its decision to offer abortions services in certain cases and abortion counseling to veterans, claiming the new rules violate her religious beliefs. Though the lawsuit is reportedly one of the first challenges to the new rule, it is not seeking to block the department from enforcing the policy nationwide. Instead, it asks the court to rule that the policy is illegal and unconstitutional and block the department from enforcing the policy at the facility in Temple. The state additionally has a civil enforcement law – authorizing private citizens to bring lawsuits against alleged violators in state court – for abortions performed after around six weeks into the pregnancy. These services are also offered to Civilian Health and Medical Program of the Department of Veterans Affairs beneficiaries.

☆ Rivian pauses JV plans with Mercedes-Benz to make electric vans in Europe
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Rivian Automotive sign outside the electric truck maker's facility, in Plymouth, Michigan, U.S., July 15, 2022. REUTERS/Kevin Krolicki/File PhotoDec 12 (Reuters) - Rivian Automotive Inc (RIVN.O) said on Monday it is pausing its joint venture with Mercedes-Benz Vans, just three months after the companies entered a partnership to make electric vans in Europe. Rivian is in a crowded field of startups trying to cash in on demand for electric commercial vans under pressure from established automakers including Ford (F.N) and General Motors (GM.N). In September, Mercedes-Benz Vans and Rivian signed a memorandum of understanding to produce electric vans in a factory in Poland, Hungary or Romania within the next few years, under the 50-50 joint venture. The plan for Mercedes-Benz Vans' new electric vehicle manufacturing site in Jawor, Poland is not affected and the pace of its electrification strategy remains unchanged, Mathias Geisen, head of Mercedes-Benz Vans, said.

☆ Automakers like Ford and GM are scrambling to make EVs cheaper as battery prices rise for the first time in years
▼ + stars: | 2022-12-07 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Battery prices have risen this year for the first time in a decade, according to BloombergNEF. A few potential solutionsFirst, auto manufacturers are working to establish battery supply in the US, as most American players have long relied on foreign supply chains. Establishing an EV battery supply chain can't be done overnight. And, any new EV battery mix comes with trade-offs. Because of the many challenges riddling the EV battery space, prospective car-buyers shouldn't expect automaker ideas to come to light in the form of lower EV prices quickly.

☆ Herschel Walker says Obama did not tell the 'whole story' when the former president joked about the GOP senate candidate's interest in werewolves and vampires
▼ + stars: | 2022-12-04 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +2 min

Walker said that Obama did not tell the whole story after making a joke about his interest in werewolves and vampires. Obama recently made a joke about it during a rally in Georgia which didn't sit well with Walker. Obama took a jab a Walker during a rally on Friday supporting Democratic Sen. Raphael Warnock before the Senate runoff election. Like whether it's better to be a vampire or a werewolf," Obama joked as the audience laughed. During a November speech in McDonough, Georgia, Walker went on involving the mythical creatures, which quickly turned into a gaffe.

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