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☆ Companies, Lenders Clash Over Loan Spreads in Switch From Libor
▼ + stars: | 2023-01-13 | by ( Mark Maurer | ) www.wsj.com time to read: +7 min

As part of the shift, companies typically propose changes to their loan agreements with lenders, adjusting for the price difference between SOFR and Libor. The adjustment of the credit spread adds basis points to the interest rate on a loan to make up for the fact that SOFR has traded lower than Libor. The difference between SOFR and Libor can be as much as 25 basis points for loans with maturities of five to seven years. There will likely be more disagreements over credit spread adjustments as companies stop using Libor prior to its end. “There’s no reason to burn bridges over a few basis points,” Mr. Kerschner said.

☆ Lab-grown meat could be served up for dinner soon. What does it taste like?
▼ + stars: | 2022-12-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +11 min

It has a capacity of 600 liters, or 159 gallons, allowing the company to produce 6,000 pounds of cultivated meat per year. Right now, Singapore is alone in allowing the sale of cultivated meat to consumers, having issued a green light in late 2020. Yet delivering on the promise of lab-grown meat won’t just come down to regulators. CNN“The promise of cultivated meat [is] to bring forth a taste and texture component, and to deliver sustainability,” said Gautam Godhwani, managing partner at Good Startup, a Singapore-based venture capital firm that has invested in eight cultivated meat startups. “I think the whole of the cultivated meat industry will go hybrid first,” Ivy Farm’s Dillon said.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, McDonald's, Netflix, Carvana, Microsoft & more
▼ + stars: | 2022-12-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Cowen names Costco a top 2023 pick Cowen said Costco is well positioned in a deteriorating macro environment. " Cowen names Caterpillar a top 2023 pick Cowen said the company is well positioned heading into 2023. Cowen names Netflix a top 2023 pick Cowen said it sees free-cash flow ramping up for Netflix in 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said investors should take advantage of any weakness and buy the dip in shares of Apple . Morgan Stanley reiterates Lululemon as overweight Morgan Stanley said the company's fundamentals remain strong after its earnings report on Thursday. "

☆ U.S. blacklists companies for aiding Russian military
▼ + stars: | 2022-12-07 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 7 (Reuters) - The Biden administration on Wednesday added 24 companies and other entities to an export control list for supporting Russia’s military or defense industrial base, Pakistan's nuclear activities or for supplying an Iranian electronics company. The companies include Fiber Optic Solutions in Latvia, which produces fiber optic gyroscopes and other equipment and Russia's AO Kraftway Corporation PSC, which calls itself one of the biggest Russian IT companies. Also on the list are Russian AO Scientific Research Center for Electronic Computing, LLC Fibersense, and Scientific Production Company Optolin, AO PKK Milandr; Milandr EK OOO; Milandr ICC JSC; Milur IS, OOO; (OOO) Microelectronic Production Complex (MPK) Milandr; and Ruselectronics JSC and Swiss based Milur SA. The Biden administration also added 10 companies in Pakistan and UAE that it says pose unacceptable risks of using or diverting items for Pakistan's unsafeguarded nuclear activities or are involved Pakistan's "nuclear activities and missile proliferation-related activities." Suppliers of U.S. goods must seek a special a difficult-to-obtain license before shipping to companies added to the list.

☆ U.S. FDA grants priority review for Emergent's OTC opioid drug
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

Companies Emergent BioSolutions Inc FollowDec 6 (Reuters) - Contract drugmaker Emergent Biosolutions (EBS.N) on Tuesday said its over-the-counter nasal spray as a treatment for suspected opioid overdose would be reviewed on a priority basis by the U.S. health regulator. Emergent is seeking the U.S. Food and Drug Administration's approval for a prescription-free sale of its nasal spray, Narcan, which is already cleared for the treatment of opioid overdose in the country. If approved following the agency's priority review by March 29, the spray could become the first naloxone-based drug to be sold over the counter. The worsening opioid crisis has prompted U.S. President Joe Biden's administration to develop newer strategies, including the use of naloxone. Reporting by Bhanvi Satija and Khushi Mandowara in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Blended travel lets people switch from work to leisure with ease. Here's how hospitality and travel companies are accommodating this experience.
▼ + stars: | 2022-11-30 | by ( Sponsor Post | Created Insider Studios With Crowne Plaza Hotels | ) www.businessinsider.com time to read: +6 min

For business travelers, this means combining work with leisure or blended travel. Crowne Plaza Hotels & Resorts reimagined its hotel spaces, amenities, and service culture to help travelers flex between work and leisure. "Many other hospitality brands put the blend into bleisure, but at Crowne Plaza Hotels & Resorts, we know the future is about flexibility." Crowne Plaza Hotels & Resorts"It's vital to provide these transitional moments for the new breed of connected traveler," Taggart said. Book your blended travel experience at Crowne Plaza Hotels & Resorts.

☆ China's COVID protests weigh on European shares
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 index (.STOXX) slipped 0.5%, tracking a sharp decline in Asian stocks. China posted record-high COVID-19 infections on Monday, after a weekend of protests, raising worries about the management of the country's zero-COVID policy and its impact on the world's second-largest economy. Other European sectors exposed to China, including automakers (.SXAP) and luxury, also fell in morning trade. European Central Bank chief Christine Lagarde will testify before the European parliament later in the day. Shares of Adler Group (ADJ.DE) surged 61.5% after the German property firm secured a deal with bondholders over $971 million debt.

☆ Germany's Brenntag in takeover talks with U.S. rival Univar
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

Nov 25 (Reuters) - Brenntag SE (BNRGn.DE) said on Friday it held preliminary discussions with U.S. rival Univar Solutions Inc (UNVR.N) regarding a potential acquisition, as the German chemicals distributor seeks to expand its footprint in the United States. In a statement on Friday, Brenntag said the discussions were ongoing and that it was not foreseeable whether there will be any kind of transaction. Brenntag said earlier it plans to double its annual spending for mergers and acquisitions to 400 million to 500 million euros ($400 million-$500 million) as part of a strategic growth plan. Univar confirmed a preliminary indication of interest from Brenntag regarding the transaction in a statement late on Friday, without giving additional details. A plunge in Russian gas exports after Russia's invasion of Ukraine has sparked a continent-wide energy crisis, leading to soaring energy prices.

☆ Target said it's lost $400 million this year due to 'inventory shrink' — and organized retail crime is mostly to blame
▼ + stars: | 2022-11-17 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Target said organized retail crime has led to more than $400 million in profit losses in 2022. Organized theft has become a major problem for retailers due to the rise of e-commerce. "Along with other retailers, we've seen a significant increase in theft and organized retail crime across our business," Brian Cornell, Target's CEO, said during the company's third-quarter earnings call. Inventory shrink on the whole cost US retailers nearly $100 billion in 2021, and it was driven by theft: retailers surveyed by the National Retail Federation reported a 26.5% increase on average of organized retail crime. Mulligan said while organized theft likely began in only some geographies, "we see those circles expanding and expanding and the impact continuing to grow."

☆ The housing-affordability crisis is sparking startup founders, Wall Streeters, and nonprofit leaders to try to offer new solutions
▼ + stars: | 2022-11-15 | by ( Hana R. Alberts | Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Some innovations may help homebuyers, renters, and investors cope with the affordability crisis. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. Mortgage rates have topped 7%, the highest rate in 20 years, which means homebuyers can afford less house for their money. That's why many people and companies in the real-estate industry are trying to help homebuyers, renters, and investors cope with an affordability crisis. That's where the Washington, DC, nonprofit Grounded Solutions Network comes in: It says it helps repurpose "vacant space into vibrant space."

☆ These five stocks are best positioned for long-term growth, Goldman analysts say
▼ + stars: | 2022-10-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs said this week that there are a bunch of stocks that are poised for long-term growth. "PEP remains very well positioned given its strong brand portfolio and long-term growth opportunities in Beverages," she wrote. Tesla "Mixed 3Q report; Company remains well positioned for long-term growth in part from potential cost and EPS drivers. BlackRock "Macro hurdles persist, but long-term growth outlook remains. … PEP remains very well positioned given its strong brand portfolio and long-term growth opportunities in Beverages."

While loans can be cheaper than issuing bonds, shorter-term debt is currently more expensive than longer tenors. Typically companies take a bridge loan to fund mergers but then pay it down with a long-dated bond issue before closing. The tech giant also doubled the size of its commercial paper program to $6 billion and said that it could expand the size of the term loan to $6 billion. "If a term loan is necessary due to timing of the deal closing, we expect to pay it back quickly," the company said. In the market for junk bonds, for example, some companies are paying higher rates to raise funds.

Reese Brown on a travel nurse assignment in New Jersey in May 2020. The short-lived travel nurse boom was a temporary fix for a long-term decline in the profession that predates the pandemic. In the 1980s and the 1990s, travel nurses were often covering for staff nurses who were on maternity leave, meaning that 13-week contracts become common. By 2021, travel nurses were earning an average of $124.96 an hour, according to the research firm — three times the hourly rate of staff nurses, according to federal statistics. Courtesy Pamela Esmond“The reality is they don’t pay staff nurses enough, and if they would pay staff nurses enough, we wouldn’t have this problem,” she said.

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