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☆ US stocks rise but close lower for the week as investors mull mixed bag of corporate earnings
▼ + stars: | 2023-04-21 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

US stock indices rose Friday as investors digested mixed earnings reports. However, all three major gauges closed the week in the red. Alphabet and Amazon are on deck to report quarterly results next week. According to FactSet, more than 75% of S&P 500 companies that have reported so far have exceeded analysts' earnings expectations. Mega-cap tech like Alphabet and Amazon are on deck for next week's quarterly results.

☆ House Republicans vow to avenge Trump indictment by going after 'spineless weasel' Alvin Bragg and President Joe Biden
▼ + stars: | 2023-04-04 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Former President Donald Trump was charged with 34 felony counts Tuesday in Manhattan. House Republicans incensed by the arraignment began spitballing ways to fight back. "This day cannot be forgotten," Rep. Andy Biggs of Arizona wrote online in a post bemoaning the "unequivocal persecution of Donald Trump." Meanwhile, House GOP Conference chair Rep. Elise Stefanik predicted that all those seeking to politically harm Trump with this trial had actually sealed their own fates. "President Trump will defeat this latest witch-hunt, defeat Joe Biden, and will be sworn in as President of the United States of America in January 2025," she said in a press release.

☆ Jamie Dimon is riding to the rescue again. This time, he's poised to come out on top.
▼ + stars: | 2023-03-31 | by ( Carter Johnson | ) www.businessinsider.com time to read: +15 min

Why, then, has Dimon been so willing to swing back into action in the wake of Silicon Valley Bank's collapse? But it's starting to look like JPMorgan — and Dimon — will end up winners no matter how things turn out. In backstopping First Republic, JPMorgan helps a client and a bank that experts say would fit nicely into its business. By saving First Republic, JPMorgan also stands to gain goodwill from Silicon Valley startups, which are customers of the smaller bank. The paper also reported that regulators asked Dimon, Bank of America, and other banks to buy Silicon Valley Bank and pay out depositors over the insured limit.

☆ 'It's not a pretty picture': Russia's support is growing in the developing world
▼ + stars: | 2023-03-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

Chinese President Xi Jinping met with Russian President Vladimir Putin in Moscow earlier this month and the two leaders vowed to deepen economic ties. watch nowWhile South Africa caused controversy in February by holding joint military drills with Russia and China on the anniversary of the invasion of Ukraine. The EIU said the number of neutral countries rose from 32 to 35, now representing almost 31% of the global population. However, this bloc also represents just under 68% of global GDP, highlighting an emerging disconnect between wealthy Western economies and the Global South. Countering organized Russian propaganda first requires acknowledging the problem, and building awareness about the aims and effectiveness of sanctions, she said.

☆ House weaponization panel seeks to eclipse January 6 committee's $18M+ budget despite rocky start
▼ + stars: | 2023-03-08 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

House weaponization panel chair Jim Jordan is already seeking more money from leadership. Jordan requested a $19 million budget, which is roughly what the January 6 select committee spent. His pitch for an additional $17 million in resources, first reported by Axios, includes doubling his initial $2 million budget and carving out a $15 million "reserve fund" the new political investigation unit can draw from as needed. Between the select committee disbanding after releasing its politically damning final report and House Republicans rearranging things on every committee after narrowly reclaiming control of the chamber last fall, tracking every select committee financial statement has gotten tricky. Sherman scolded House GOP leaders for demanding budget cuts elsewhere, but then throwing money at poorly received pet projects like the "flameout that the weaponization committee just experienced with its so-called whistleblowers hearing."

☆ Investigation-wary CPAC attendees urge House Republicans to avoid getting wrapped up in settling old political scores: 'Today's not the day to go back and cry about it'
▼ + stars: | 2023-03-04 | by ( Warren Rojas | ) www.businessinsider.com time to read: +4 min

Insider asked Conservative Political Action Conference attendees about House GOP investigations. House Republicans created a new "weaponization" panel designed to explore their "deep state" conspiracy theories, while other standing committees are jumping all over Trump-era grievances like the southern border to try and orchestrate viral moments. CPAC attendees who told Insider they supported the House GOP's oversight crusade were all over the place in terms of their preferred targets. "I didn't send you to impeach the president," Yadeta said of his frustration, adding that Raskin should have tackled local issues like homelessness and job creation. "I hope we don't just get bogged down with a bunch of investigations where nothing comes out," he told Insider.

☆ Here are Wednesday's biggest analyst calls: Apple, Procter & Gamble, Tesla, Spotify, AbbVie & more
▼ + stars: | 2023-03-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley upgrades Sarepta to overweight from equal weight Morgan Stanley said it's bullish on the company's gene therapy drug, SRP-9001. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's standing by its overweight rating on the EV maker after its earnings report on Tuesday, but says it's now a show-me story. Morgan Stanley reiterates Eli Lilly as top pick Morgan Stanley said the stock is best-in-class and that it's bullish on its diabetes drug, Mounjaro. Morgan Stanley names JD.com a catalyst driven idea Morgan Stanley said it's bullish heading into the China e-commerce company's earnings on March 9. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it's standing by shares of Microsoft.

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☆ How Gen Z and the Great Resignation created a wave of overinflated job titles
▼ + stars: | 2023-02-07 | by ( Aki Ito | ) www.businessinsider.com time to read: +9 min

Way back in 1993, the Financial Times ran a column bemoaning the grandiose job titles that were popping up in the US and the UK. Compared with enticements like higher pay and better benefits, tacking an extra "senior" onto somebody's job title is free. Some are mashing together a bunch of old words, resulting in monstrosities like "senior executive vice president" — not to be confused with senior vice presidents and executive vice presidents. Still, despite the downsides of title inflation, I think there are some redeeming qualities to the state of things today. It goes to show how our job titles aren't just a summary of our day-to-day responsibilities or an indicator of our place in the org chart.

☆ M&M’S says its taking a ‘pause’ from polarizing spokescandies
▼ + stars: | 2023-01-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

“In the last year, we’ve made some changes to our beloved spokescandies,” the chocolate candy brand said in a statement Monday. The Green M&M, pre-makeover, is seen here in her go-go boots. Anthony Behar/Sipa USA/AP“[Rudolph] will serve as the brand’s new spokesperson, allowing the colorful cast of M&M’S spokescandies to step away and embrace a new path to pursue other passions,” An M&M’S spokesperson told CNN in an email. A petition to “keep the green M&M sexy” garnered over 20,000 signatures. Purple was recently deployed as part of a limited-edition pack of purple, brown and green M&M’S — the colors of the female spokescandies — in honor of International Women’s Day.

☆ Bank earnings are under way. Here are the biggest storylines everyone on Wall Street is focused on.
▼ + stars: | 2023-01-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Starting today, the six big US banks (Bank of America, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo) report their Q4 and year-end earnings. But instead of a boring preview on what to expect, I figured I'd have some fun by setting gambling lines on some of the biggest storylines heading into earnings. OK, let's get into the biggest storylines and their odds:David Solomon discusses the recent headcount reduction at Goldman Sachs. What'll be interesting is if he teases even more cuts coming down the line as the bank looks to cut costs. (-150)Background: The bank got ahead of this one by announcing its plans to step back from mortgages earlier this week.

☆ The furor over Biden's classified documents rekindles House Republicans' sweeping impeachment agenda
▼ + stars: | 2023-01-12 | by ( Warren Rojas | ) www.businessinsider.com time to read: +6 min

House Republicans sought to impeach Biden, Merrick Garland, Alejandro Mayorkas and others last year. 57; H. Res. 596; H. Res. 597; H. Res. 598; H. Res.

☆ Tesla stock has plunged nearly 70% from its peak. 'Big Short' investor Michael Burry called the crash.
▼ + stars: | 2022-12-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Tesla stock has plunged about 67% from its peak in November 2021. The investor repeatedly warned Tesla shares were in a bubble and destined to crash. Other factors were a boom in people playing the stock market while stuck at home, and a social-media frenzy around certain stocks. "The competition came for Netflix, just like the competition is coming for Tesla," Burry tweeted. He returned to his punching bag in September, when Tesla stock was trading at more than double its current level.

☆ Fight for control of the RNC turns heated as some members demand change
▼ + stars: | 2022-12-15 | by ( ) edition.cnn.com time to read: +15 min

CNN —Shortly before announcing her campaign against Republican National Committee chair Ronna McDaniel, Harmeet Dhillon, a well-connected conservative attorney, phoned an important ally to solicit his thoughts. Republican voters and local officials have bombarded committee members with emails and calls about the party’s next chair, often berating them directly for the GOP’s underwhelming performance in the midterms, according to four committee members who requested anonymity to describe their experience. During the same period, her law firm received nearly $900,000 from the RNC, federal election data shows. We are all independent thinkers, and we know what’s best for our states,” said Jeff Kent, a committee member from Washington. “It’s very hard to beat an incumbent RNC chair if that incumbent wants to stay,” said Bill Palatucci, a New Jersey committeeman.

Small-scale copper miners are now challenging Big Copper for territorial control of rich deposits of the red metal. In Peru, artisanal mining permits have doubled to 80,000 since 2020, government records show. Peru's leftist administration presented a new framework for artisanal mining last week that declared artisanal mining is "as important" as big mining. "Where we have concessions we can't have (artisanal mining permits)," Rojas said. The number of valid artisanal mining permits in Tapairihua has fallen from 100 to 32 since May, according to government records.

☆ Elon Musk has a new arch-enemy: the Fed
▼ + stars: | 2022-10-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk blasted the Fed's rapid rate hikes after Tesla blamed a strong dollar for missing sales forecasts. A Fed reversal could boost Tesla's sales and profits, and lift the value of Musk's shares. "The Fed is raising rates more than they should," Musk said during the automaker's third-quarter earnings call on Wednesday. "The Fed is not listening, because they're looking at the rearview mirror instead of looking out the front windshield," Musk said on the call. Additionally, if the Fed start loosening its monetary policy, that type of economic stimulus would likely juice Tesla's vehicle sales.

Many companies that have shifted enterprise-technology tools into the cloud in recent years, in part as a cost-saving measure, say those investments have yet to pay off. Rather than run software and systems in their own hardware, commercial cloud users tap computing capabilities from providers such as Amazon.com Inc. and Microsoft Corp. They are also turning to multiple cloud providers, rather than relying on one cloud, for different systems and applications for different business areas. “Many first movers expected significant IT cost efficiency from their cloud investments,” said Barry Brunsman, a principal in KPMG’s CIO Advisory group. “You really do need to not just take it for granted that cloud is where you should head,” she said.

Circuit Court of Appeals in Manhattan, lawyers for Musk called the pre-approval mandate a "government-imposed muzzle" that inhibited and chilled his lawful speech on a broad range of topics. They also said the requirement violated the U.S. Constitution, and undermined public policy by running "contrary to the American principles of free speech and open debate." It is expected to file its own brief with the appeals court. In settling, Musk agreed to let a Tesla lawyer screen tweets that might contain material information about the company. In Tuesday's filing, Musk's lawyers said it was time to rein in the SEC, which is keeping him under "constant threat" it might reject his view of which disclosures require pre-approval.

☆ From Jay-Z to Elon Musk: Inside the rise of Quinn Emanuel partner Alex Spiro, one of the lawyers helping the billionaire break out of his $44 billion deal to buy Twitter
▼ + stars: | 2022-09-20 | by ( Jack Newsham | ) www.businessinsider.com time to read: +14 min

Elon Musk has fired many lawyers but hired Alex Spiro for at least five cases, with a mixed record. But there's at least one lawyer who Musk seems to get along with: Alex Spiro. Spiro had been working behind the scenes for the billionaire when he was trying to buy Twitter. But they are hardly the "hardcore street fighters" Musk wants in a lawyer, according to a recent tweet of his. It's not clear how Spiro and Musk connected in the first place, but they seem to operate on the same wavelength.

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