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☆ Global banking crisis: One big problem down. Too many others left to go
▼ + stars: | 2023-03-20 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

New York CNN —Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. In the United States, the banking crisis began nearly two weeks ago with the sudden collapses of Silicon Valley Bank and Signature Bank over a three-day span. That sent shockwaves through the global banking system. Good news and bad newsThe good news: Those loans do not indicate anything inherently wrong with the global banking system. But the banking system and regulators would have to calm fears before that happens system-wide.

NEW YORK, March 14 (Reuters) - U.S. consumers have flooded banking giants, including JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N) and Citigroup Inc (C.N) with deposits after the collapse of Silicon Valley Bank, sources familiar with the matter said. Large banks saw in influx of money from consumers and businesses in the last week as SVB teetered, one of the sources told Reuters. Rating agency Moody's Investors Service on Tuesday changed its outlook on the U.S. banking system to negative from stable to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank, Silvergate Bank, and Signature Bank. Shares of U.S. regional banks such as First Republic Bank (FRC.N), Western Alliance Bancorp (WAL.N) and KeyCorp (KEY.N) have slumped on fears of possible bank contagion following the collapse of SVB and Signature Bank (SBNY.O). For example shares of First Republic climbed nearly 40 percent after plunging more than 60% on Monday.

☆ Joshua Kushner's $3 billion Thrive Capital VC fund has lost 31% in the past year, according to a major endowment backer
▼ + stars: | 2023-02-13 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

Thrive announced at the beginning of last year it closed a massive $3 billion fund. By the end of the year, one of the fund's major investors marked down its stake by 31%. Thrive Capital, the New York-based venture firm founded in 2009 by Joshua Kushner, announced at the beginning of last year it closed a massive $3 billion fund, with $500 million earmarked for early-stage startups and another $2.5 billion devoted later-stage companies. Thrive is also in talks to make another $1 billion investment in Stripe, Bloomberg recently reported. And Thrive is also in talks to invest in OpenAI through a tender offer, the Wall Street Journal reported.

☆ Jim Cramer says strong January jobs report shows the economy can handle more rate hikes
▼ + stars: | 2023-02-03 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday said that the January jobs report shows that the economy will remain resilient, despite the Federal Reserve's interest rate hikes. "If the Fed Chief wants to raise interest rates quarter after quarter, this economy can actually handle it. The U.S. economy added 517,000 jobs in January, crushing the Dow Jones estimate of a 187,000 gain. Faith that if the Fed wants to hit us with one or two more rate hikes, we'll be fine," he said. The strong economic data comes after the Fed on Wednesday raised interest rates by a quarter percentage point.

☆ How Vanessa Bryant became 'Queen Mamba'
▼ + stars: | 2023-01-26 | by ( Ellen Cranley | ) www.businessinsider.com time to read: +2 min

Vanessa Bryant was the "Queen Mamba" to Kobe's "Black Mamba," and they were married for nearly 20 years. He and Vanessa met when she was in high school and he was a young NBA star. At a public memorial service held at the Staples Center a month after the accident, Vanessa offered a heartbreaking tribute to her daughter and her "soulmate" Kobe. Vanessa and Kobe Bryant were married for 19 years before the basketball star's sudden death. Her classmates were stunned when she caught the eye of then-20-year-old Los Angeles Lakers star Kobe Bryant.

☆ ‘Dinner With the President’ Review: Bread-and-Butter Issues
▼ + stars: | 2023-01-25 | by ( Moira Hodgson | ) www.wsj.com time to read: +1 min

In 2019 Donald Trump held a much-publicized banquet for the Clemson Tigers football team in the State Dining Room of the White House. He posed before a large table piled high with Quarter Pounders, a portrait of Lincoln behind him. But Mr. Trump had made a shrewd political move. As Mr. Prud’homme writes: “The critics’ howls . Bush (who was such a WASP that he sometimes ate cereal for dinner) claimed to be a fan of pork rinds splashed with Tabasco sauce.

☆ ‘Living in despair and hopelessness’: A lack of affordable housing can put people’s health at risk
▼ + stars: | 2022-11-30 | by ( Renuka Rayasam Fred Clasen-Kelly Kaiser Health News | Renuka Rayasam | Fred Clasen-Kelly | ) edition.cnn.com time to read: +11 min

She suspected the gray and brown splotches spreading through the apartment were mold and had caused her son’s illness. A nationwide affordable housing crisis has wreaked havoc on the lives of low-income families, like Joseph’s, who are close to the brink. Housing instability — such as having trouble paying rent, living in crowded conditions, or moving frequently — can have negative consequences on health, according to the federal Office of Disease Prevention and Health Promotion. And there is no county in the country where a minimum-wage worker could afford a two-bedroom rental home, according to an August report from the National Low Income Housing Coalition. A few months after leaving the apartment, Joseph and her two children moved in with her sister in Orlando, Florida, with their remaining possessions — a car and some clothes.

☆ Wilko Johnson, 'Game of Thrones' actor and Dr. Feelgood guitarist, dies at 75
▼ + stars: | 2022-11-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

LONDON — Wilko Johnson, the guitarist with British blues-rock band Dr. Feelgood who had an unexpected career renaissance after being diagnosed with terminal cancer, has died. Born John Wilkinson in 1947, Johnson was raised on Canvey Island, a marshy, industrial oil town in England’s River Thames estuary. He studied Anglo-Saxon literature at Newcastle University and worked as a schoolteacher before forming Dr. Feelgood with other local friends. Johnson later said that if the band had been able to follow its managers’ instructions to behave, “I’m pretty sure we’d be multimillionaires. He released another album, “Blow Your Mind,” in 2018, and played gigs with his Wilko Johnson Band until last month.

☆ Crypto is a 'significantly non-compliant' market and investors need better protections as FTX faces collapse, SEC chief Gary Gensler says
▼ + stars: | 2022-11-10 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

There must be stronger protections in place for investors in the crypto market, SEC Chair Gary Gensler said Thursday on CNBC. He appeared as crypto exchange FTX was on the verge of collapse in facing a potential shortfall of up to $8 billion. The crypto industry is "significantly non-compliant," but regulations "are often very clear," said Gensler. He appeared as contagion fears have been running high in the cryptocurrency market as investors watched FTX — the third-largest crypto exchange — veer toward collapse. And if we need, going to be the cop on the beat, going into court, putting the facts and the law in front of judges."

☆ Morning Bid: Consumer inflation, crypto deflation
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +5 min

Annual consumer price rises are expected to have eased back a touch last month to 8.0%, the lowest since February, with core inflation rates ticking lower to 6.5%. Falling used car prices, one aggravator of inflation indices over the past year, will be watched closely - as will the relative calm in oil prices. Minneapolis Fed President Neel Kashkari said it's "entirely premature" to discuss any pivot away from the Fed's current policy course. Broader markets were steady to negative around the world, mostly in a holding pattern ahead of the inflation report. The United States and China also laid out markers this week ahead of an expected meeting between their presidents at the summit.

☆ Bank of Japan to conduct emergency bond buying as yen teeters near 150
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 20 (Reuters) - Japan's central bank on Thursday said it would hold emergency bond-buying operations, offering to buy some $667 million in government debt, a move designed to put a floor under bond prices. The yen has been hammered this year by the widening difference between U.S. and Japanese interest rates. Register now for FREE unlimited access to Reuters.com RegisterBut the central bank has so far showed no sign of changing tack. Thursday's move showed the BOJ was continuing to buy bonds and keeping the YCC policy in place. The central bank said it would buy 100 billion yen ($667 million) of JGBs with maturities of 10-20 years and another 100 billion of bonds with maturities of 5-10 years.

☆ 3 takeaways from our daily meeting: Market stabilization, putting cash to work, Macao reopening
▼ + stars: | 2022-09-26 | by ( Krystal Hur | ) 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. The market has a chance to stabilize Putting money to work in the oversold market China loosens some Covid rules 1. Putting money to work in the oversold market Following Friday's sell-off, the S & P Oscillator showed the market to be at its most oversold level since mid-June. 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.

☆ Donald Trump called Mitch McConnell a 'piece of shit' and an 'Old Crow' in a new Maggie Haberman book
▼ + stars: | 2022-09-25 | by ( Katie Balevic | ) www.businessinsider.com time to read: +2 min

Donald Trump called Mitch McConnell a "piece of shit," according to a forthcoming book by Maggie Haberman. Trump spoke with Haberman for her book "Confidence Man: The Making of Donald Trump and the Breaking of America." "Well, I figured that the Mitch McConnells would be like him, in the sense of strength," Trump told Haberman, according to The Atlantic. Their relationship teetered during Trump's presidency but largely soured after McConnell disavowed Trump following the January 6, 2021 attack on the Capitol. In one of Haberman's later interviews with Trump for her book, he said of McConnell: "The Old Crow's a piece of shit."

She likened the climate contributing to the couple's decision to leave Texas to "death by a thousand paper cuts." The business risks to recruiting is especially high for oil companies, already unpopular with graduates of engineering programs, said Jonas Kron, chief advocacy officer at Trillium Asset Management. Texas Governor Greg Abbott has acknowledged the state is losing workers, but does not regret the departures. Oil companies contribute to politicians who advocate for free trade, tax and energy policies through political action committees (PACs). Dawn Seiffert, 52, and her husband, an oil company employee, returned to Texas in 2012 and planned to stay.

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