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☆ Junior bankers are 'freaking out' and ditching summer training sessions amid rumblings that private equity recruiting is kicking off ridiculously early
▼ + stars: | 2023-07-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +10 min

Panic is setting in at investment banks across Wall Street as junior bankers are thrust into the whirlwind of private equity recruiting. Private equity recruiting is an annual Wall Street ritual, albeit an unwelcome one for some investment banks. Coffee chats vs on-cycleWhich private equity firms are recruiting and when is somewhat murky — for good reason. Private equity firms have also begun hosting events, including an invite-only networking social with KKR Thursday night and online information sessions hosted by Hellman & Friedman Wednesday. "I know it's crazy, but it's in your best interest to decide upfront whether you want to pursue private equity," he said.

Persons: I'm, Evercore, Asif Rahman, Friedman, Apax, Hellman, that's, Matt Ting, It's, Ting, they'll, Reed Alexander Organizations: Oasis, Henkel, Advisors, KKR, Hellman, Industry, headhunters, Permira Locations: Wall, New York

Canada and the United States both have something to prove in this Women’s World Cup. Canada faces a different sort of pressure: their so-far-unrealized expectations on the World Cup stage. Philippines vs. Switzerland The Philippines, in its first Women’s World Cup, features a roster with 18 American-born players. It will face Switzerland, a team with only one previous Women’s World Cup appearance, in 2015. Spain vs. Costa Rica Spain, whose roster contains several players from the powerhouse European club Barcelona, has lost only once in the last year.

Persons: Phelan M Organizations: Associated Press, Canada, Canada Soccer, Olympic, Africa, Nations, Spain, Costa Rica Spain, Barcelona, Costa Rica, Costa Ricans, Thailand Locations: Canada, United States, Australia, New Zealand, Spain, Nigeria, Philippines, Switzerland, Costa Rica, Costa, Vietnam Vietnam, it’s, United

☆ The future of Amazon's Honeycode cloud service is not looking so sweet
▼ + stars: | 2023-07-14 | by ( Eugene Kim | Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Amazon's AWS Honeycode app-building software is being phased out. It's business application team has struggled. Another Amazon business application is struggling. This time it's AWS Honeycode, a cloud-based app-building service. Besides Honeycode, Amazon has axed the Halo health band, the Scout delivery robot, and a number of long-term projects from its Grand Challenge moonshot lab.

Persons: Honeycode, they're, hasn't, Slack, Sriram Devanathan, Adam Bosworth, Adam Seligman, Seligman Organizations: AWS, Amazon, Service, Amazon Connect, SAP, Google, Microsoft

☆ The weaponization of the dollar will reverse globalization and kill the WTO, it was warned. That's a real threat today as dedollarization gathers force.
▼ + stars: | 2023-07-14 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +6 min

US economic sanctions have spawned something of a global backlash, in the form of the dedollarization movement. This was anticipated as early as 2019, by an expert who warned the weaponization of the dollar could have serious consequences for the global economic system. Back in 2023, dedollarization is a thingFast forward to 2023, and some of the recent rumblings across the global currency and monetary landscape are strikingly in line with Sen's prognostications. All that could come at a huge cost to the global economy – and drive a "complete reversal of global economic integration," he wrote. The dollar's share of global reserves could slowly decline, but no alternatives exist that could completely displace the US currency, Treasury Secretary Janet Yellen said last month.

Persons: Julius Sen, Donald Trump, Sen, prognostications, Emmanuel Macron, Elon Musk, –, optimists, Paul Krugman, Janet Yellen, Putin Organizations: London School of Economics, Service, UN, SWIFT, Allianz, WTO, FX Locations: Wall, Silicon, China, Brazil, Iran, Tehran, Russia, Ukraine, India, Europe

☆ Opinion: Sending cluster bombs to Ukraine is a very bad idea
▼ + stars: | 2023-07-11 | by ( Opinion Michael Bociurkiw | ) edition.cnn.com time to read: +10 min

Michael Bociurkiw CNNOn Friday, after months of debate, US President Joe Biden announced that, as part of a new $800 million military aid package, the administration will be sending controversial cluster munitions to Ukraine. “No to cluster bombs and yes to the legitimate defense of Ukraine, which we understand should not be carried out with cluster bombs,” said Spain’s Defense Minister Margarita Robles. Discord among US allies over cluster munitions might have been avoided altogether, had western capitals moved more swiftly to provide Ukraine with lethal weaponry. To keep the Ukrainians from running out and being defeated, we must send them cluster munitions. Cluster munitions could bring Kyiv a temporary battlefield advantage.

Persons: Michael Bociurkiw, Joe Biden, “, ”, Margarita Robles, Biden, Volodymyr Zelensky, Emannuel Macron, Andre Luis Alves, ” Biden, William Taylor, Jake Sullivan, Vladimir Putin —, Erin Burnett, Zelensky Organizations: Atlantic Council, Organization for Security, Cooperation, CNN, Ukraine CNN —, Michael Bociurkiw CNN, Spain’s, NATO, Tactical Missile Systems, British Storm Shadow, Defense Department, Cluster Munitions, Human Rights Watch, United States Fund, UNICEF, “, Sunday, Anadolu Agency, Getty, Twitter Locations: Odesa, Europe, Kyiv, Ukraine, Canada, Spain, New Zealand, Germany, Margarita Robles . New Zealand, Lithuania, Vilnius, Russia, France, United States, Asia, Geneva, AVDIIVKA, UKRAINE, Avdiivka, Vladimir Putin — Ukraine, Odessa

Budrul Chukrut | Lightrocket | Getty ImagesAt midnight on Tuesday, the moderators of the Reddit community r/Gaming decided to go dark. "We're talking hundreds of thousands of volunteers putting in hours a day to keep the site safe, entertaining and enjoyable for community members. As a private company, Reddit doesn't have to disclose its financials or provide revenue and profit projections. "You have a lot of people, both professionals and general community members, who are running the numbers on this," Croach said. Jacqueline Sheeran, known as "MCHammerCurls," is the head moderator of r/Fitness, which has more than 10 million members.

Persons: Budrul, Dacvak, Slack, weren't, Croach, Reddit, Christian Selig, Selig, Steve Huffman, Huffman, Horacio Villalobos, subreddits, they're, –, David DeWald, subreddit, Shane McCarthy, McCarthy, Meepster23, ModCoord, Omar, Jacqueline Sheeran, Sarah Gilbert, Gilbert, Huffman's, RamsesThePigeon, that's, there's Organizations: Lightrocket, Reddit, CNBC, Facebook, Twitter, YouTube, Google, Amazon, Yahoo, Microsoft, Corbis, NBC, Wall, NBC News, Cornell University, school's Citizens, Technology Locations: U.S, Lisbon, Portugal

☆ Here's what the SEC's 'all-out assault' on crypto means for the market's 2 biggest players
▼ + stars: | 2023-06-08 | by ( Max Adams | ) www.businessinsider.com time to read: +6 min

"If this goes poorly, it could be an existential issue for Coinbase," Jeff Blockinger, chief counsel at decentralized finance platform Vertex Protocol, told Insider. Sources told Insider they expect Coinbase to fight extremely hard against the suit, which essentially says its whole US operation is illegal. "This is an all-out assault, particularly in regards to Binance, but it is a broader assault on the industry. A deal just means 'the casino can stay open'From Smith's point of view, the real existential matter isn't the SEC's lawsuit but rather the nature of the market itself. "If the SEC and Coinbase cut some sort of deal, that just means the casino can stay open."

Persons: —, Changpeng Zhao, Zhao —, Binance, Zhao, Jeff Blockinger, it's, Brian Armstrong, he's, Coinbase, Gensler, Sam Bankman, Richard Smith, Ron Geffner, Goldberg, Geffner, There's, Smith Organizations: Coinbase, Service, Securities, Exchange Commission, Binance, SEC, Commodities Futures Trading Commission, Bloomberg, The Foundation Locations: Cayman Islands, Alameda, SEC's

☆ Cramer says investors should buy this bank stock 'aggressively'
▼ + stars: | 2023-06-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Morgan Stanley is a buy The stock market has misjudged Morgan Stanley (MS) amid the recent turmoil in the banking sector. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Goldman Sachs, Morgan Stanley, Wells, Apple Jim, Walt Disney, Bob Iger, They've, Jim, Jim Cramer's Organizations: CNBC, Disney, Apple, Big Tech, Club, Walt Locations: U.S

☆ How we feel about banks being required to bolster rainy-day funds after SVB failure
▼ + stars: | 2023-06-05 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

The Wall Street Journal reported Monday that financial industry regulators could announce a proposal, as early as this month, seeking to increase the rainy-day funds of big banks. Morgan Stanley and Wells Fargo, while never a worry during the recent mini-banking crisis, have both seen their stocks decline in the wake of the SVB collapse and struggle to regain their footing. Should Morgan Stanley really be penalized more than others just because it offers fee-based wealth management solutions, which through strong execution have grown? However, we're inclined to consider a capital requirement change opportunistically, especially as it relates to Morgan Stanley. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: financials Morgan Stanley, Wells, it's, Morgan Stanley, isn't, Jim Cramer's, Jim Cramer, Jim, Bing Guan Organizations: Street, Bank, WSJ, Assistance, CNBC, Bloomberg, Getty Locations: Wells Fargo

☆ Japan stocks are on fire this year. Here are 3 reasons why the rally could have 'staying power'
▼ + stars: | 2023-05-27 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Since then, Japanese equities have rallied. Even so, Strategas Securities' Chris Verrone has remained optimistic on Japanese equities, saying this week that the rally is not yet overbought. Meanwhile, JPMorgan chief market strategist Marko Kolanovic said in a note, also on Tuesday, that the rally in Japan still has "staying power." For international investors, those remarks signaled that Japanese companies may be more transparent with shareholders in the future. Investors can also take a company-specific approach, according to Diamond Hill's Mohanraj, who favors Japanese companies that boast differentiated products.

☆ Morning bid: Fed rates to stay higher for longer, debt drama goes on
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +3 min

Chicago Federal Reserve President Austan Goolsbee told Bloomberg on Tuesday that it was "too premature" to be discussing interest rate cuts. Loretta Mester, the President at the Cleveland Fed, said they're not at the point where rates can be kept on hold. The chance of a rate cut as early as June has also disappeared, according to the pricing of interest rate futures, having stood at almost 20% a month ago. DEBT CEILING OPTIMISMWith just over two weeks until a possible U.S. debt default unless Congress votes to raise the debt ceiling past its $31.3 trillion limit, talks appear to be heading toward a positive outcome. Biden, who will be travelling to Japan on Wednesday, is set to cut his trip short and skip stops in Australia and Papua New Guinea amid the debt ceiling stand-off.

☆ Balloons detect mysterious sounds in the stratosphere below the human hearing limit. Scientists can't explain.
▼ + stars: | 2023-05-13 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

Solar-powered balloons are recording mysterious sounds below human hearing in the stratosphere. These balloons listen to the Earth from a dozen miles up, but not in frequencies that the human ear can detect. "In the infrasound domain our planet is very rich," Bowman, a scientist at Sandia National Laboratories, told Insider. "I think one of the reasons humans can't hear infrasound is because we'd go nuts if we could." But Bowman wants to see more people flying infrasound-recording stratosphere balloons.

☆ Tucker Carlson discussed working together with Elon Musk after Fox firing, report says
▼ + stars: | 2023-05-07 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Tucker Carlson is talking with right-wing outlets about his next career move, according to Axios. He has reportedly talked to Newsmax and Rumble while his lawyers work to break his Fox contract. Axios also reported that Carlson has met with Twitter CEO Elon Musk, who has previously expressed support for right-wing views. Tucker Carlson has had at least one conversation with Elon Musk about working together, according to a new report from Axios. Social media extremism experts previously told Insider that Musk often uses his Twitter to amplify right-wing messaging.

☆ China investment consensus cracks as politics fuel fears
▼ + stars: | 2023-04-28 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

It is unlikely to be resolved quickly even if the markets keep rallying and China economy keeps global growth ticking. Data paints a murky picture, but supports brokers' analysis that the bid from long-only money managers is absent. Allocation analysis from data firm EPFR shows a broad downtrend, especially to U.S.-domiciled China funds. EPFR figures show allocation to China funds outside the U.S. has increased for two years and mainland markets' recent performance has also been encouraging. "Our reservations about China's long-term investment prospects are based on our outlook for returns to capital."

☆ A Newspaper Was Planning Its Last Edition. Then the Press Caught Fire.
▼ + stars: | 2023-04-26 | by ( Corey Kilgannon | ) www.nytimes.com time to read: +1 min

As other regional and community papers were fading, Montclair Local popped up with a subscription price: $12 a month. It added a website and weekly email newsletters, and for seven years, it defied the odds. Every Thursday, mailboxes in town were fed 20 fresh pages of local coverage, from school board updates to rumblings of a new supermarket — and of course high school sports. Last week, the Local’s board announced it would go online-only and merge with another online outlet, Baristanet. Its last print edition would come out the following Thursday, April 27.

But after a two-week storm which had analysts and investors rushing to rework their spreadsheets, the outlook is clouded. And the ructions have left the gap between the ratios of European and U.S. banks at its narrowest since September 2017. Reflecting concerns over the stability of the sector, bank shares are set for an almost 15% monthly drop in March, after five consecutive months of gains. European bank earnings growth expectations'UNLIKELY TO BUY'Other investors see pressure on European bank earnings as they anticipate the euro zone economy will slow down. Also in the calculation mix is the ECB's campaign to raise interest rates to tackle rising inflation, which had previously been a boon for euro zone lenders.

☆ Most of Putin's presidental administration is secretly against the Ukraine war but don't dare tell him: report
▼ + stars: | 2023-02-23 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Much of Putin's presidential administration is opposed to the Ukraine war, the FT reported. Members of Russia's presidential administration and economic cabinet have told friends they are against the war, according to the Financial Times, whose report drew on the insight of multiple unnamed Putin confidants and former officials. The presidential administration consists of top-level officials who act as the leader's executive office. People close to the president told the FT that Putin's fatal flaw is his weakness for loyalty — valuing this over competence. "They need to be honest with him and they are not," a figure close to Putin told the paper.

☆ China's millennial managers are confronting a pissed-off wave of Gen-Z staff out to 'rectify' the workplace
▼ + stars: | 2023-02-22 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +8 min

China's Gen Z is out to "rectify" the workplace, and they want their millennial bosses to give in. The Weibo hashtag "The post-2000s generation is rectifying the workplace" is a forum filled with Gen Z rage. The hashtag documents Chinese Gen Z rage in all its varied formsIt is unclear exactly how the hashtag started. At times, the posts on the Gen Z workers' threads devolve into rants about their "evil" millennial bosses. The rumblings from Gen Z, however, stand in stark contrast to narratives about Chinese millennials that have dominated popular culture.

☆ A disappointing 2022 has led some Goldman Sachs partners to ask: Is it time for a change at the top?
▼ + stars: | 2023-02-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

On tap, we've got stories on why not-so-flashy land is actually the hottest investment on Wall Street, the firms minting money by navigating FTX's bankruptcy, and the coolest houses on Airbnb. It's only February, but the Ides of March might be coming to Goldman Sachs. We've talked at length over how people are looking to pin the blame on Solomon as things have soured at Goldman. Certain issues have been easier to overlook than others, but the bank recently broke a cardinal rule of Wall Street: Don't mess with bankers' compensation. Forget beachfront, the hottest real estate for Wall Street is industrial land.

☆ 'Phil of the Future' star Raviv Ullman said he wishes he'd been more strategic in his Disney Channel days: 'I was 17. I don't think I knew how to be.'
▼ + stars: | 2023-02-05 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +3 min

Raviv (previously known as Ricky) Ullman starred in "Phil of the Future" from 2004 to 2006. Since then he's acted in other series and films, but took some time to reflect on his Disney days. I don't think I knew how to be strategic or what that actually meant in terms of a career." Even though Ullman spent time in the "Disney Circle of Stars" in the early 2000s, he said he was rarely star-struck. "I don't think I was looking at it like, 'now I am a Disney star and will do Disney movies forever,'" but "I never consciously was trying to break out."

☆ UPS and the Teamsters prepare for high-stakes talks with union contract set to expire
▼ + stars: | 2023-02-03 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +6 min

But Tomé's optimism comes as the Teamsters union, which represents more than 340,000 UPS workers, amps up pressure on the delivery giant. "Whether there is a strike of UPS workers is up to UPS," said Kara Deniz, a spokesperson for the Teamsters. The talks start in April, with the current national contract set to expire on July 31. In the fourth quarter of 2022, UPS workers delivered a global average of 28 million packages per day, according to the company's website. For the first time, Teamsters Union President Sean O'Brien and the union's secretary of the treasury will have seats at the bargaining table and be directly involved in negotiating the terms of the new contract.

☆ Brett Kavanaugh praises newcomer Ketanji Brown Jackson as a 'thoroughly prepared' justice who's 'off to a great start'
▼ + stars: | 2023-01-26 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

Justice Brett Kavanaugh praised fellow Justice Ketanji Brown Jackson. "She's off to a great start," Kavanaugh said of the newest member of the Supreme Court. "She's off to a great start," Kavanaugh continued, adding that Jackson "hit the ground running" and fits in well with the group. Jackson, who's seated next to Kavanaugh on the bench, has received widespread attention in the legal world less than four months into her tenure at the Supreme Court. I'm optimistic about the court, I'm optimistic about the country, I'm optimistic about my colleagues."

The White House formally announced on Wednesday that it is sending 31 M1 Abrams tanks to Ukraine, part of a coordinated move in which Germany and other European nations will also send their own tanks to the fight in time for a coming offensive. The move follows days of intense diplomacy between Berlin and Washington and quashes, for now, the rumblings of dissension within an alliance that formed last year to support Ukraine.

☆ Who on Wall Street is making cuts, who's promoting, and who's hiring
▼ + stars: | 2023-01-16 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

One thing that's apparent on Wall Street is that many people are worried about their jobs and compensation. We've already seen layoffs at Goldman Sachs, BlackRock, and BNY Mellon materialize, and there's likely more bad news to come. Wall Street bonuses are being handed out—but they're not going to be pretty. Here's when banks like JPMorgan, Goldman Sachs, and Morgan Stanley are expected to tell employees how much they made. College students still eyeing a job on Wall Street should look no further than our guide to landing a summer job at a top investment bank or asset manager.

☆ How WWE’s Vince McMahon ruthlessly got his job back despite allegations of sexual assault and misuse of company funds
▼ + stars: | 2023-01-14 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +12 min

WWE has always been a family business – Vince McMahon, Sr., handed over the reins to his son in the 1980s – and it seemed set to continue that way. Why was Vince McMahon stepping aside such a big deal? Vince McMahon was more akin to a king than a business executive in the world of WWE, his fingerprints on everything. Once considered a wrestling genius, critics have more recently come to consider Vince McMahon a creative liability. McMahon,” Vince McMahon’s devious on-screen character, who served as wrestling’s greatest heel for years in the late 1990s and early 2000s.

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