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☆ How your drive to work could be the one big thing harming your sleep, fueling depression, and wasting your time and money
▼ + stars: | 2023-07-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

The longer workers spent in their cars and the more money they spent on commuting, the less happy they were. But longer and more expensive car commutes are also hurting our mental health. A new study conducted by researchers in Spain found that the more time and money people spent driving to work, the worse mental health outcomes they experienced. Similarly, the more money they spent on commuting, the more sleep loss and depression they experienced. Those who took public transit, walked, or biked to work spent significantly less time and money commuting.

Persons: —, Robert Putnam Organizations: Service, University of East Locations: Wall, Silicon, Spain, University of East Anglia

☆ I finally landed a 6-figure book deal after 20 years of trying to become an author. Here's how I did it.
▼ + stars: | 2023-07-19 | by ( Melissa Petro | ) www.businessinsider.com time to read: +6 min

Melissa Petro is a freelance writer, writing instructor, and author in New York City. Days after my story was publicized, my writer friends and other industry folks begrudgingly congratulated me on my presumably imminent book deal. It took about two years to write the book proposal, and I wrote the book in about nine months. She was a Facebook friend of mine whom I saw left her job as a book editor to become a literary agent, so I reached out to her. After working with her to craft my book proposal that ultimately sold, it was a different book — a better one.

Persons: Melissa Petro, I'd, NYC Department of Education —, that's, begrudgingly, who'd, you'll, I've, bylines, it's, she'd, They'll Organizations: Service, Big, Fine Arts, New York Post, NYC Department of Education, Putnam Books, Penguin Random, PEN Locations: New York City, Wall, Silicon

☆ Opinion | Religion Creates Community. We’re Losing That.
▼ + stars: | 2023-06-28 | by ( Jessica Grose | ) www.nytimes.com time to read: +3 min

If you get off that track (or never started on it), the U.S. is a more difficult place in which to thrive. What’s more, they write:Modern American churches are financially incentivized to target the wealthy and create a space where those on track feel comfortable. Not because I think people need to be religious to live good lives — I don’t believe that — but because almost everyone needs community to flourish. As the Harvard political scientist Robert Putnam, whom I spoke to for this series and who wrote “Bowling Alone: The Collapse and Revival of American Community,” has been preaching for decades, increasing social isolation is bad for all of us. At the same time, examples of that kind of grace don’t erase the damage that is sometimes done in the name of religion.

Persons: “, Robert Putnam, ”, Carson Curtis, ” Burge, Burge, Frank Capra, I’ve Organizations: Harvard, American Community Locations: America, U.S, Arizona

☆ Submersible Disappears in Area of Titanic Wreck
▼ + stars: | 2023-06-19 | by ( Jenny Gross | Emma Bubola | ) www.nytimes.com time to read: 1 min

A submersible went missing in the area of the Titanic wreck in the North Atlantic on Monday, setting off a search-and-rescue operation by the U.S. Coast Guard, according to the agency and the tourism company operating the craft. Petty Officer Lourdes Putnam confirmed that Coast Guard officials were searching for the submersible, which is operated by OceanGate Expeditions. It was not clear how many people were on board the vessel, and Officer Putnam offered no further details. The company’s website said its submersibles carry five people. OceanGate, a company that takes paying tourists in submersibles to shipwrecks and underwater canyons, said on its website on Monday that an expedition was “currently underway.”In a statement after the submersible went missing, the company said that it was exploring all options to bring the crew back safely.

Persons: Lourdes Putnam, Putnam, “ Organizations: U.S . Coast Guard, Coast Guard, OceanGate Expeditions Locations: submersibles

☆ Still-hawkish Fed pauses rate tightening after 10 straight hikes
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +13 min

While the market expected a hawkish pause, this is even a little bit more hawkish than market participants anticipated and that’s why you’re having a negative reaction in risk assets. So, it does suggest that the Fed is looking to tighten policy further, but the big question is can the Fed credibly commit to two more rate hikes if they just decided to actually hold rates steady. And what is the threshold for further rate hikes? “GEORGE YOUNG, PORTFOLIO MANAGER, VILLERE & CO, NEW ORLEANS"This a pregnant pause, meaning that they said they're going to pause hikes today but they're going to increase later. ANGELO KOURKAFAS, SENIOR INVESTMENT STRATEGIST, EDWARD JONES, ST LOUIS"We're seeing a more hawkish pause.

Persons: QUINCY KROSBY, Powell, He’s, BRIAN JACOBSEN, MENOMONEE, ” ANDRZEJ SKIBA, ” GENNADIY GOLDBERG, they’ve, ” ELLEN HAZEN, Logan, Waller, “ GEORGE, ANGELO KOURKAFAS, EDWARD JONES, They've, MICHAEL BROWN, hawkishly, WHITNEY WATSON, GOLDMAN, “, STOVALL, ” PAUL NOLTE, MICHAEL JAMES Organizations: YORK, Federal Reserve, Federal, U.S, RBC, CPI, PPI, Powell &, Cleveland Fed, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC, WISCONSIN, WELLESLEY , MASSACHUSETTS, ORLEANS, GOLDMAN SACHS, Manheim, ALLENTOWN, CHICAGO

☆ Alternative asset specialist Beneficient set to complete $3.3 billion SPAC merger
▼ + stars: | 2023-06-06 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Last year, Beneficient announced plans to go public via a merger with Avalon Acquisition Company (AVAC.O). Avalon stockholders approved the deal on Tuesday, said the source who was not permitted to discuss the confidential matter. Beneficient provides liquidity and services to qualified individuals and smaller institutions invested in private equity, venture capital and other alternative assets. The company is expected to begin trading this week on Nasdaq under the ticker BENF and the combined company will be called Beneficient, the person said. Special purpose acquisition companies (SPACs) are publicly listed companies that were raised with the intention of merging with a private company, which then goes public through the merger.

Persons: Beneficient, Brad Heppner, Donald Putnam, Craig Cognetti, Svea Herbst, Bayliss, Lisa Shumaker Organizations: YORK, Avalon Acquisition, Avalon, Nasdaq, Beneficient, Crossroads Group, Grail Partners, Putnam Lovell Securities, Svea, Thomson Locations: Avalon

☆ Fact Check-Marjorie Taylor Greene did not include a ‘pornography ban’ in US debt ceiling bill
▼ + stars: | 2023-06-06 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

U.S. Republican Representative Marjorie Taylor Greene did not include a “nationwide pornography ban” in the debt ceiling bill, contrary to claims circulating online. Reuters found no evidence that Greene is currently taking steps to remove the Miller Test or establish a pornography ban. No major news outlets covering the debt ceiling negotiations (tinyurl.com/2kmmynxa) reported on this. On June 3, President Joe Biden signed a bill that suspends the government's $31.4 trillion debt ceiling, averting what would have been its first-ever default (here). There is no evidence that Greene is planning to include a “nationwide pornography ban” in the debt ceiling bill.

Persons: Marjorie Taylor Greene, Nick Dyer, Greene, “ Miller, Donald Trump, “ Trump, Joe Biden, Read Organizations: Republican, Putnam County Ohio Republican Party, Reuters Locations: Putnam, Russian

☆ From Wall Street to Washington: Which finance execs would make the best public servants?
▼ + stars: | 2023-06-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.

Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London

☆ Franklin Templeton to Acquire Putnam Investments From Great-West Lifeco
▼ + stars: | 2023-05-31 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/franklin-templeton-to-acquire-putnam-investments-from-great-west-lifeco-6e4b7baa

Persons: Dow Jones, templeton Organizations: franklin, putnam

☆ Franklin Resources to Acquire Putnam Investments From Great-West Lifeco
▼ + stars: | 2023-05-31 | by ( Justin Baer | Dean Seal | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, templeton Organizations: franklin, putnam

☆ Greg Fleming's Rockefeller strategic-advisory team defies dealmaking drought thanks to this rich family
▼ + stars: | 2023-05-31 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

The wealth manager's CEO Greg Fleming has deep ties to the Desmarais family behind the insurer. In the midst of a dealmaking lull, Rockefeller Capital Management can add another billion-dollar advisory deal to its resume. Advised by the five-year-old firm, Canadian insurer Great-West Lifeco is selling asset management subsidiary Putnam Investments to Franklin Templeton, the firms announced today. Since Fleming launched Rockefeller, born out of the Standard Oil heirs' family office, Great-West Lifeco has consistently sought the firm's services. The Rockefeller family also increased its stake by an undisclosed amount.

Persons: Rockefeller, Franklin Templeton, Greg Fleming, Lifeco, Morgan Stanley, Merrill Lynch, Jim Ratigan, Stephen Valentino, Fleming, Paul Desmarais Jr Organizations: Rockefeller Capital Management, Putnam Investments, Pitchbook, Wall Street, Deutsche Bank . Rockefeller, Standard, Rockefeller, Power Corporation of Canada, Viking Global, Bank of America

One recipient of Parnas’ donations -- Florida Governor Ron DeSantis -- has said he was barely an acquaintance. Two sources close to DeSantis during his 2018 campaign confirmed the texter’s number belonged to DeSantis at that time. “We became very friendly.”In 2018, Parnas was a well-known figure in Trump’s orbit, often seen with Giuliani. On June 21, 2018, Parnas’ company, Global Energy Producers, donated $50,000 to DeSantis’ campaign for governor. Three weeks later, DeSantis added, “Make sure he gives a lot.”Pereira later co-hosted a fundraiser for DeSantis with Parnas and his company donated $115,000 to DeSantis’ 2018 campaign, campaign finance records show.

☆ Texts tie DeSantis closely to Trump insider Lev Parnas in 2018 race, says report
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: +16 min

One recipient of Parnas' donations -- Florida Governor Ron DeSantis -- has said he was barely an acquaintance. Six days later, DeSantis told reporters that Parnas "was just like any other donor, nothing more than that." Two sources close to DeSantis during his 2018 campaign confirmed the texter's number belonged to DeSantis at that time. On June 21, 2018, Parnas' company, Global Energy Producers, donated $50,000 to DeSantis' campaign for governor. Pereira later co-hosted a fundraiser for DeSantis with Parnas and his company donated $115,000 to DeSantis' 2018 campaign, campaign finance records show.

☆ Opinion | ‘Christianity’s Got a Branding Problem’
▼ + stars: | 2023-05-10 | by ( Jessica Grose | ) www.nytimes.com time to read: +4 min

“Virtually every major theme in the sixties’ controversies would divide Americans for the rest of the century, setting the fuse for the so-called culture wars,” they note. The “aftershock” was the backlash in the 1970s and ’80s against what were thought of as countercultural values. As these subjects were surveyed into the earlier 2000s, the pew gap only widened. The connection between political conservatism and religiosity has kept many Republicans in the pews, while it’s pushed scores of Democrats away from religion entirely. While moderate and liberal boomers did move away from religion as they got older, the percentage of American nones really began to increase in the late 1990s.

☆ In race for efficient EVs, Mercedes taps F1 team to keep up with Tesla
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +6 min

In this article MBG-FF Follow your favorite stocks CREATE FREE ACCOUNTLewis Hamilton of Great Britain drives the Mercedes AMG Petronas F1 Team W13 on race day during the 2023 Australian Grand Prix at Albert Park on April 2, 2023 in Melbourne. But Mercedes' F1 collaboration to build more efficient EVs faster is unprecedented because it embeds that racing mindset and technological expertise directly in product development. After decades of leadership in combustion-engine technology, legacy carmakers like Mercedes have lagged Tesla in electric vehicles. Mercedes' F1 team can help it get back in the race, said Steven Merkt, head of transportation solutions at TE Connectivity , a major autos supplier. Last year, Mercedes unveiled its EQXX concept car, a super-efficient EV capable of a range of more than 1,200 km (745 miles), which was jointly developed with the German premium carmaker's F1 team in England.

☆ Disconnect between Fed and market pose risk to stocks, says Putnam’s Jackie Cavanaugh
▼ + stars: | 2023-04-28 | 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 EmailDisconnect between Fed and market pose risk to stocks, says Putnam’s Jackie CavanaughJackie Cavanaugh, Putnam Investments portfolio manager, joins 'Squawk Box' to discuss earnings season, the Fed, and the market outlook for the rest of 2023.

☆ Earnings declines usually precede recessions, but bulls say the profit apocalypse hasn't happened
▼ + stars: | 2023-04-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

They examined the 10 recessions (as defined by the NBER) that occurred from 1955 to 2020 and what happened to the S & P 500 in those time periods. Let's be optimistic and assume that earnings decline 10% in 2022. The S & P currently is at roughly 4,100, so we are talking about a roughly 25% decline in the S & P 500 from current levels. The bulls do have one thing going for them: if a recession is usually preceded by a bear market, the bear market may already have happened. From the January 2022 peak to the October bottom, the S & P 500 declined roughly 25%, about inline with the historic declines during a bear market.

☆ How two of North America's richest families came together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp., Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ Why two of North America's richest families are coming together to fortify Greg Fleming's Rockefeller Capital Management
▼ + stars: | 2023-04-05 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

A firm owned by one of Canada's richest clans has invested $622 million in wealth firm Rockefeller. Two of North America's richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management. The Desmarais family invested $622 million through the Power Corporation of Canada, the financial services conglomerate the family controls, for a 20.5% stake in Rockefeller Capital Management. Paul's son and deputy chairman of Power Corp, Andre Desmarais considered the late David Rockefeller Sr. as a mentor. Courtesy of Rockefeller Capital ManagementThe Desmarais family has worked with Rockefeller on big dealsRockefeller chief executive Fleming also has a two-decade-long relationship with the Desmarais clan.

☆ There isn't much room for multiple expansion at current levels: Putnam Investment's Cavanaugh
▼ + stars: | 2023-04-05 | 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 isn't much room for multiple expansion at current levels: Putnam Investment's CavanaughJacquelyne Cavanaugh, Putnam Investments portfolio manager, joins 'Squawk Box' to discuss where earnings estimates are, if the Fed can be successful in what it's trying to do and more.

☆ USDOT defends 'fully qualified' Biden aviation nominee
▼ + stars: | 2023-03-10 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, March 9 (Reuters) - The Biden administration told Congress on Thursday its pick to head the Federal Aviation Administration (FAA) is fully qualified and does not violate a law requiring civilian leadership. Republicans question whether Denver International Airport Chief Executive Officer Phil Washington has the required aviation experience needed to serve as top U.S. aviation regulator. Cruz said on Wednesday that Washington was "unable to answer basic safety questions about the 737 MAX crashes, aircraft certification, and how a pilot might react when a system malfunctions." "Surveying the leadership of the aviation field supports this fact overwhelmingly. Washington this week won backing of three former FAA administrators and the chief executive of Frontier Airlines (ULCC.O).

☆ Trump condemns DeSantis' potential 2024 White House bid as 'disloyalty'
▼ + stars: | 2023-02-14 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +4 min

Trump told radio host Jenna Ellis that he never asked DeSantis to stay out of the 2024 nomination. Speaking to radio host Jenna Ellis on American Family Radio, Trump called himself "a very big believer in loyalty." Former UN Ambassador Nikki Haley made her run official on Tuesday, but Ellis asked Trump about Florida Gov. Ron DeSantis as well, who hasn't made his intentions clear but often polls second to Trump in a hypothetical primary matchup. DeSantis, who was a US congressman at the time, had sagging poll numbers during the primary until Trump endorsed him.

☆ Trump claims Ron DeSantis cried in front of him while asking for his endorsement back in 2018
▼ + stars: | 2023-02-03 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Donald Trump claims Ron DeSantis cried while asking for his endorsement in 2018. Trump backed DeSantis for governor in 2018. —The Republican Accountability Project (@AccountableGOP) February 2, 2023DeSantis was known for being the Trump-backed candidate in the 2018 GOP gubernatorial primary. In an endorsement tweet on June 22, 2018, Trump called DeSantis a "top student at Yale and Harvard Law School." In July 2018, while he was running for governor, DeSantis released a campaign video in which he called himself a "pitbull Trump defender."

☆ Fed opts for small rate hikes, expects to deliver 'ongoing increases'
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +4 min

The decision lifted the benchmark overnight interest rate to a range between 4.50% and 4.75%, a move widely anticipated by investors and flagged by U.S. central bankers ahead of this week's two-day policy session. MARKET REACTION:STOCKS: U.S. stocks fell after the Fed statement, but the Nasdaq recovered, last flat on the day. RYAN DETRICK, CHIEF MARKET STRATEGIST, CARSON GROUP, OMAHA"The Fed threw no curve balls, as they did what was widely expected. The door is cracking open to end rate hikes, but they still have a chance for one more rate hike at the next meeting." How close are we now with ending the rate hike cycle, when it’s clear employment costs are slowing?"

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

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