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☆ Mexico elects first female Supreme Court president
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A screen shows the ceremony in which Norma Lucia Pina prepares to take the oath as president of the Supreme Court of Justice while speaking on a television screen in the press room of the Supreme Court building in Mexico City, Mexico January 2, 2023.REUTERS/Henry RomeroMEXICO CITY, Jan 2 (Reuters) - Mexico's Supreme Court on Monday elected its first female president, who has pushed back against the government's nationalist energy agenda, amid a succession process clouded by allegations of plagiarism against another justice competing for the job. By a 6-5 majority vote, the justices chose Norma Pina to head Mexico's highest court, putting in place a member appointed to the tribunal under the previous administration. Esquivel vehemently denied the accusation, which triggered an investigation by her alma mater, the National Autonomous University of Mexico (UNAM). His electricity bill ended up at the Supreme Court, and Pina cited Mexico's constitutional obligation to cut its carbon footprint in voting down sections of the law, including one that gave priority to CFE in connecting power plants to the grid. Reporting by Dave Graham; editing by Jonathan Oatis and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

A fter a year of layoffs across media and entertainment companies, more cuts could come in 2023 .. A pull-back of advertising tied to the declining economic outlook has affected all media. From tech diruptors like Netflix to news stalwarts like the Washington Post, a range of companies are impacted. In the blink of an eye, the media and tech jobs market has gone from hot to not. Discovery and Paramount Global that are racing to make their streaming businesses profitable to digital media companies such as BuzzFeed and Vice that are trying to bolster their valuations. Here are 15 media and entertainment companies that have laid off staff as of December 2022:

☆ Chef José Andrés and his daughters go on a Spanish food tour in new TV show
▼ + stars: | 2022-12-28 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

On his new TV show, celebrated chef José Andrés goes into a restaurant kitchen in Spain and confronts a massive moray eel. “Nothing can be more simple and more sophisticated at the same time.”That eel is just one delicious moment in Discovery+’s “José Andrés and Family in Spain,” which follows the chef, restaurateur and humanitarian on a food tour through his homeland with his three American-raised daughters, Carlota, Inés and Lucia Andrés. The elder Andrés — who has drawn attention to Spanish food and helped put a spotlight on humanitarian disasters with his World Central Kitchen — can hardily contain himself. “Happiness happens when you mix different people and different colors and different places all in one plate,” José Andrés says onscreen. “Spain is the excuse,” says José Andrés.

☆ 5 books to help you be smarter and more successful at work from Warren Buffett, Bill Gates, and more
▼ + stars: | 2022-12-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Finding the time, or motivation, to read a 300-plus page book after an exhausting workday is no easy feat. "There is so much valuable knowledge you can learn from books and put into practice in your own life …. Many of the world's most successful business leaders, from Bill Gates to Warren Buffett, are proud bibliophiles, citing reading as an important habit for sparking creativity and broadening your understanding of the world. Gates said that Gallwey's insights "subtly affected" how he showed up to work throughout his career at Microsoft. This "is an outstanding book about CEOs who excelled at capital allocation," Buffett wrote in his 2012 letter to shareholders.

☆ We're more positive on China than we've ever been, says asset management firm
▼ + stars: | 2022-12-27 | 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 EmailWe're more positive on China than we've ever been, says asset management firmJames Morton of Santa Lucia Asset Management says there's "no real point doing bonds in China anymore," and stocks are "the place to be."

Erie County Executive Mark Poloncarz said the storm's confirmed death toll climbed to 13 on Sunday, up from three reported overnight in the Buffalo region. The latest victims included some found in cars and some in snow banks, Poloncarz said, adding that the death tally would likely rise further. New York Governor Kathy Hochul called it an "epic, once-in-a-lifetime" weather disaster that ranked as the fiercest winter storm to hit the greater Buffalo area since a crippling 1977 blizzard that killed nearly 30 people. RESCUING THE RESCUERSThe latest blizzard came nearly six weeks after a record-setting but shorter-lived lake-effect storm struck western New York. [1/9] A snow plow is left stranded on the road following a winter storm that hit the Buffalo region on Main St. in Amherst, New York, U.S., December 25, 2022.

☆ Inside the Disney drama as CEO Bob Iger returns, replacing protege Bob Chapek
▼ + stars: | 2022-12-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Bob Iger returned to Disney as CEO in November, ending Bob Chapek's rocky tenure. In one of the most dramatic reversals in corporate history, the Walt Disney Co. board reinstated Bob Iger as CEO in November, ousting his predecessor Bob Chapek. Disney had just reported a $1.5 billion loss in its streaming business on a November 8 earnings call. Wall Street faulted him for waiting until after the 3Q earnings call to announce that layoffs were planned, for example. Read more about what Disney, Hollywood, and Iger expect from Iger:

☆ Deadly blizzard, deemed worst in 45 years, paralyzes greater Buffalo, N.Y.
▼ + stars: | 2022-12-26 | by ( Gabriella Borter | ) www.reuters.com time to read: +4 min

[1/3] Vehicles are left stranded on the road following a winter storm that hit the Buffalo region in Amherst, New York, U.S., December 25, 2022. The greater Buffalo region, lying at the edge of Lake Erie near the Canadian border was one of the hardest-hit places. The governor called it an "epic, once-in-a-lifetime" weather disaster that ranked as the fiercest winter storm to hit Buffalo, New York state's second-largest city, since a crippling 1977 blizzard that killed nearly 30 people. The latest blizzard, which initially overwhelmed emergency crews, came nearly six weeks after a record-setting but shorter-lived lake-effect storm struck western New York. He said one electrical substation knocked offline was sealed off by an 18-foot-tall mound of snow, and utility crews found the entire facility frozen inside.

[1/6] Hoak's restaurant is covered in ice from the spray of Lake Erie waves during a winter storm that hit the Buffalo region in Hamburg, New York, U.S. December 24, 2022. Twenty-eight people have died so far in weather-related incidents across the country, according to an NBC News tally. The Buffalo airport had recorded 43 inches (109 cm) of snow as of 7 a.m ET (1200 GMT) on Sunday, Otto said. "Another one to two feet in general before Monday morning in the Buffalo area is expected," Otto said. "I guess you can say in some ways, the worst of it is over but there's still some pretty significant snowfall that's ongoing around the Buffalo region today."

☆ U.S. core capital goods orders rise modestly in November
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

These so-called core capital goods orders increased 0.3% in October. Economists polled by Reuters had forecast that core capital goods orders would be unchanged. Core capital goods increased 8.8% on a year-on-year basis in November. Slowing price increases, a strong dollar and a shift in spending from goods to services likely contributed to the moderation in core capital goods orders. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement.

☆ These were Insider's CMOs to watch in 2022
▼ + stars: | 2022-12-23 | by ( Michael Kaminer | Lucia Moses | ) www.businessinsider.com time to read: 1 min

Massimo Baratto, chief consumer officer, Under ArmourUnder ArmourPart of Barrato's mission in this newly created role has been focusing more on direct-to-consumer channels and less on traditional retail. The company has since ramped up its use of SEO and digital promotions, including influencer relations. Baratto also helped shift the tone of Under Armour's advertising; Tom Brady and Morgan Freeman starred in a high-profile "Future GOATs" campaign encouraging young athletes to be themselves. The company is also unveiling a national program offering grants to young athletes and in-person experiences at Under Armour's Baltimore "campus." Under Armour ended 2023 by hiring ex-Marriott International president Stephanie Linnartz as CEO.

☆ HBO Max has always streamed HBO series like 'Game of Thrones' without commercials. But that's going to change.
▼ + stars: | 2022-12-23 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Ads are coming to HBO original series like "Game of Thrones" on HBO Max. Running ads alongside HBO originals could turn off viewers or possibly anger creators. HBO Max has kept commercials off its most prestigious programming — HBO originals series like "Mare of Easttown" and "Game of Thrones" (though ads appear in HBO Max originals like "The Flight Attendant" and "Hacks"). At the service's launch, Andy Forssell, then HBO Max EVP and GM, called the plan an effort to create an "elegant, tasteful ad experience that is respectful of great storytelling." With HBO Max, WBD is racing to make streaming profitable while slashing debt.

☆ U.S. consumer spending, inflation slow in November
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged up 0.1%, the Commerce Department said on Friday. Economists polled by Reuters had forecast consumer spending rising 0.2%. Slowing price increases for some goods also lowered the dollar amount of consumer spending. Consumer spending is being driven by solid wage gains, thanks to a tight labor market, as well as savings accumulated during first year of the COVID-19 pandemic. Higher borrowing costs, fast depleting savings and diminishing household wealth could stifle consumer spending, and tip the economy into recession next year.

☆ U.S. new home sales increase again in November
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

New home sales increased 5.8% to a seasonally adjusted annual rate of 640,000 units last month, the Commerce Department said on Friday. October's sales pace was revised lower to 605,000 units from the previously reported 632,000. Sales surged in the Midwest and West, but fell in the Northeast and the densely populated South. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, slipping to a rate of 600,000 units in November. At November's sales pace it would take 8.6 months to clear the supply of houses on the market, down from 9.3 months in October.

☆ U.S. consumer spending, inflation cool in November
▼ + stars: | 2022-12-23 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged up 0.1%. Economists polled by Reuters had forecast consumer spending rising 0.2%. Slowing price increases for some goods also lowered the dollar amount of consumer spending. Consumer spending is being driven by solid wage gains, thanks to a tight labor market, as well as savings accumulated during first year of the COVID-19 pandemic. Higher borrowing costs, fast-depleting savings and diminishing household wealth could stifle consumer spending, and tip the economy into recession next year.

☆ Complex insiders say owner BuzzFeed has shed key talent, failed to invest in core content, and threatens to dilute the hip culture brand: 'The BuzzFeed ethos does not get it'
▼ + stars: | 2022-12-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Clashing video strategies as some fear Complex culture is being 'completely gutted'Kevin Hart appeared on Complex's "Hot Ones" series. Before joining with BuzzFeed, Complex's then-CEO Rich Antoniello had conversations with Vice Media and Vox Media. Rubbing salt in the wound, Complex insiders said they felt their brand was scrappier and more culturally relevant than BuzzFeed, which many consider past its prime. But Complex insiders felt especially aggrieved when, this fall, BuzzFeed announced a global expansion for ComplexCon. To Complex insiders, BuzzFeed's plan to take the event to Australia, Europe, and Asia simultaneously was unrealistic and under-resourced.

☆ U.S. weekly jobless claims rise slightly; third-quarter GDP revised higher
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +3 min

Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 216,000 for the week ended Dec. 17, the Labor Department said on Thursday. Claims have swung up and down in recent weeks, but have remained below the 270,000 threshold, which economists said would raise a red flag for the labor market. Some economists, however, had argued against reading the steady rise in continuing claims as a sign of easing labor market conditions. Labor market strength is helping to underpin the economy by generating solid wage gains, which are contributing to higher consumer spending. Gross domestic product increased at a 3.2% annualized rate last quarter, the government said in its third estimate of GDP.

☆ U.S. consumer confidence rebounds; existing home sales sink
▼ + stars: | 2022-12-21 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

"The outlook for consumer confidence in 2023 will hinge on the Fed's ability to deliver a soft landing on what could be described as a narrow runway." The Conference Board said its consumer confidence index increased to 108.3 this month, the highest reading since April, from 101.4 in November. While the survey places more emphasis on the labor market, the rebound in confidence matched a similar rise in the University of Michigan's sentiment index. The improvement, which mostly reflected lower gasoline prices, was in line with recent data showing consumer prices increasing moderately in November. But with the housing market in the doldrums, economists believe the labor market will loosen and unemployment increase next year.

☆ H&M agrees to pay a 500 euro bonus to 4,000 workers in January
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

MADRID, Dec 21 (Reuters) - Swedish fashion retailer H&M (HMb.ST) agreed to pay a 500 euro ($530) bonus to some 4,000 shop workers in Spain in January, two unions said on Wednesday, after its arch-rival Inditex (ITX.MC) offered 1,000 euros to its home country shop assistants. The world's biggest fashion retailers are responding to demands from their workers for higher pay to offset soaring consumer prices. The Sweden-based fashion retailer will pay 500 euros to all its shop workers who have been employed in Spain at least since January 2022. The company will pay 250 euros to those who have worked at least six months. Soaring consumer prices have pushed unions in Spain to press sometimes reluctant employers for pay raises.

☆ U.S. existing home sales fall for 10th straight month in November
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Dec 21 (Reuters) - U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales plunged 7.7% to a seasonally adjusted annual rate of 4.09 million units last month, the lowest level since May 2020, the National Association of Realtors said on Wednesday. Sales have now declined for 10 straight months, the longest such stretch since 1999. House resales, which account for a big chunk of U.S. home sales, tumbled 35.4% on a year-on-year basis in November. At November's sales pace, it would take 3.3 months to exhaust the current inventory of existing homes, up from 2.1 months a year ago.

☆ U.S. consumer confidence rebounds in December
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 21(Reuters) - U.S. consumer confidence rebounded in December as inflation retreated and the labor market remained strong, but fears of a recession next year persisted, a survey showed on Wednesday. The Conference Board said its consumer confidence index increased to 108.3 this month from 101.4 in November. Consumers' 12-month inflation expectations fell to 6.7%, the lowest since September 2021, from 7.1% last month. The present situation index, based on consumers' assessment of current business and labor market conditions, rose to 147.2 from 138.3 last month. The expectations index, based on consumers' short-term outlook for income, business, and labor market conditions, increased to 82.4 from 76.7.

☆ U.S. current account deficit shrinks in third quarter
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 21 (Reuters) - The U.S. current account deficit narrowed sharply in the third quarter as exports jumped to a record high, data showed on Wednesday. The Commerce Department said that the current account deficit, which measures the flow of goods, services and investments into and out of the country, contracted 9.1% to $217.1 billion last quarter. The current account gap represented 3.4% of gross domestic product, down from 3.8% in the second quarter. Primary income receipts increased $15.2 billion to $314.0 billion, while primary income payments rose $26.8 billion to $268.4 billion. Secondary income payments increased $9.0 billion to $94.9 billion, reflecting a rise in general government transfers, mostly international cooperation.

Layoffs have been hitting the ad industry as marketers trim spending amid a softening economy. Insider is tracking which ad and marketing companies have laid off staffers, and how many. Layoffs have been hitting the ad industry since early this year as marketers reined in their spending over growing economic concerns. Marketing is typically the first expense companies cut in downturns and times of uncertainty, and the industry's biggest trend forecasters have revised down their estimates for global ad revenue growth next year. Insider is tracking which companies across the ad industry are cutting staff and how many.

☆ Higher mortgage rates depress U.S. single-family housing starts, building permits
▼ + stars: | 2022-12-20 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Summary Housing starts fall 0.5% in NovemberSingle-family starts drop 4.1%; multi-family up 4.8%Building permits plunge 11.2%; single-family fall 7.1%WASHINGTON, Dec 20 (Reuters) - U.S. single-family homebuilding tumbled to a 2-1/2-year low in November and permits for future construction plunged as higher mortgage rates continued to depress housing market activity. We don't know about the rest of the economy, but the housing market is clearly in recession." Single-family housing starts, which account for the biggest share of homebuilding, dropped 4.1% to a seasonally adjusted annual rate of 828,000 units last month. The jump in multi-family housing projects offset some of the drag from single-family housing units, resulting in overall housing starts falling only 0.5% to a rate of 1.427 million units last month. The single-family housing market boomed early in the pandemic as Americans sought bigger properties to accommodate home offices.

☆ U.S. single-family housing starts drop in November
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 20 (Reuters) - U.S. single-family homebuilding tumbled in November as higher mortgage rates continued to depress housing market activity. Single-family housing starts, which account for the bulk of homebuilding, dropped 4.1% to a seasonally adjusted annual rate of 828,000 units last month, the Commerce Department reported on Tuesday. Starts for housing projects with five units or more rose 4.8% to a rate of 584,000 units. That offset some of the drag from single-family housing units, resulting in overall housing starts falling only 0.5% to a rate of 1.427 million units last month. Economists polled by Reuters had forecast starts would slide to a rate of 1.400 million units.

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