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☆ Letter to a Young Crypto Enthusiast (or the Merely Curious)
▼ + stars: | 2023-08-13 | by ( Ron Lieber | More About Ron Lieber | ) www.nytimes.com time to read: +1 min

It’s at 12 percent this year, according to a National Bureau of Economic Research working paper, and Bitcoin’s price has risen more than 75 percent from its 2022 low. Crypto conviction — or just curiosity — is not something that merits condescension from the olds and scolds of personal finance. It just requires you to ask a few questions about who you are and why you find crypto alluring. It is true that younger adults are more open to this way of putting money to work. If you’re under 40, you’re more likely to own crypto than people over 60, according to the N.B.E.R.

Persons: It’s, Sam Bankman, you’re, You’re Organizations: National Bureau of Economic Research Locations: United States

☆ WeWork multitasked when it had just one job
▼ + stars: | 2023-08-09 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Aug 9 (Reuters Breakingviews) - WeWork (WE.N) took a decent idea and turned it into a ridiculous one. Occupancy declined and WeWork burned through another $300 million. WeWork agreed to take over loads of space when revenue was doubling each year and prices were far higher. Workspace-sharing providers can thrive again, too, if they remember that being cautious about puffing up their balance sheets is the main job. WeWork, valued at $47 billion in a private 2019 funding round, said in May it had completed a debt-for-equity recapitalization that eliminated $1.2 billion of debt.

Persons: Adam Neumann, Masayoshi Son, WeWork, Daniel Hurwitz, it’s, Sandeep Mathrani, Hurwitz, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, SoftBank, Video Communications, Thomson Locations: Swiss

☆ Coinbase dangerously raises the stakes
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado RuvicNEW YORK, Aug 4 (Reuters Breakingviews) - Coinbase Global (COIN.O) just showed its hand in a dangerous game. Because trading activity is notoriously volatile, Coinbase boss Brian Armstrong is sensibly seeking new lines of business. After a 170% rise in the company’s share price this year, the legal limbo raises the stakes in a more worrisome way. models beauty’s new look read moreEditing by Jeffrey Goldfarb and Sharon LamOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado, Brian Armstrong, Coinbase, Armstrong, Anita Ramaswamy, headwinds, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, Ten, U.S . Securities, Exchange Commission, California and, Twitter, Maersk, Adidas, InBev, Thomson Locations: Ten U.S, California, California and New Jersey

☆ Robinhood swaps meme-green tights for duller look
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Robinhood logo is seen on a smartphone in front of a displayed stock graph in this illustration taken, July 2, 2021. REUTERS/Dado Ruvic/NEW YORK, Aug 3 (Reuters Breakingviews) - Robinhood Markets (HOOD.O) is looking more grown-up - and more boring. The problem: Users are still fleeing, and nearly half of revenue comes from interest that is destined to fade. Robinhood warned last quarter that a 100 basis-point drop in interest rates would lead to a hit equivalent to an 11% fall in revenue. When the Federal Reserve eventually turns to cutting rates, Robinhood will need more users to fill that hole.

Persons: Dado Ruvic, Vlad Tenev, ” That’s, Robinhood, Ben Winck, Jonathan Guilford, Sharon Lam Organizations: REUTERS, Reuters, Stock, Federal Reserve, Twitter, Adidas, InBev, Thomson

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ TikTok trendsetter e.l.f. models beauty's new look
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

cosmetic products are seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew KellyNEW YORK, Aug 2 (Reuters Breakingviews) - Social-media savvy makeup brand e.l.f. Boss Tarang Amin has chased this growth through heavy online advertising, including collaborations with TikTok influencers. While not necessarily cheaper than the old guard’s approach - sales, general and administrative spend is a similar share of revenue at both e.l.f. With Amin promising to ramp up marketing spending even further, the pressure for older peers to touch up their look grows.

Persons: Andrew Kelly NEW, Boss Tarang Amin, TikTok, Nielsen, Estee Lauder, Amin, Anita Ramaswamy, Aston Martin, Jonathan Guilford, Sharon Lam Organizations: REUTERS, Andrew Kelly NEW YORK, Reuters, Jefferies, Twitter, Thomson Locations: Manhattan , New York City, U.S, e.l.f

☆ Republicans struggle to diverge from Bidenomics
▼ + stars: | 2023-08-01 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Florida Governor and Republican U.S. presidential candidate Ron DeSantis attends a barbecue hosted by former diplomat Scott Brown, as part of his "No B.S. WASHINGTON, Aug 1 (Reuters Breakingviews) - Republicans with ambitions to move into the White House have a love-hate relationship with Bidenomics. A continued push for true “energy independence” probably would look more like Biden’s strategy than anything else. The agenda includes 10 core tenets, including greater independence from China, energy independence and promoting domestic investment. He called for “aggressive new restrictions” on Chinese ownership of U.S. infrastructure in a Jan. 18 campaign video and emphasized domestic energy independence in a Feb. 9 video.

Persons: Ron DeSantis, Scott Brown, Bidenomics, Donald Trump, Joe Biden’s, DeSantis, “, Biden, Trump, ”, Jeffrey Goldfarb, Sharon Lam Organizations: Republican U.S, Reuters, Economic, Federal Reserve, Trump, Energy Information Administration, “, Florida, Former U.S, Thomson Locations: Florida, Rye , New Hampshire, U.S, WASHINGTON, ”, Ukraine, Beijing, China, Bidenomics, New Hampshire

It was Dr. Scott Rivkees, the Florida surgeon general. Ron DeSantis had decided that the worst was over for Florida, he said. Mr. DeSantis had begun listening to doctors who believed the virus’s threat was overstated, and he no longer supported preventive measures like limiting indoor dining. Mr. DeSantis was going his own way on Covid. Nearly three years later, the governor now presents his Covid strategy not only as his biggest accomplishment, but as the foundation for his presidential campaign.

Persons: Deborah L, Scott Rivkees, “, ’ ”, Ron DeSantis, DeSantis, ” Organizations: White, Gov, The New York Times Locations: Florida, Covid, New York, California

☆ BlackRock’s Aramco embrace makes sense in a vacuum
▼ + stars: | 2023-07-18 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

The $109 billion asset manager run by Larry Fink said on Monday it would add Saudi Aramco (2222.SE) Chief Executive Amin Nasser to its 16-strong board. But judged through an investment lens the appointment makes sense. Nasser, who led Aramco through its 2019 initial public offering, will take the seat currently occupied by Bader Alsaad, a former managing director of the Kuwait Investment Authority. Follow @thereallsl on TwitterCONTEXT NEWSBlackRock on July 17 said Amin Nasser, chief executive of Saudi Aramco, would join its board as an independent director. “Amin’s distinguished career at Aramco, spanning more than four decades, gives him a unique perspective on many of the key issues facing our firm and our clients,” BlackRock Chief Executive Larry Fink said in a statement.

Persons: Larry Fink, Amin Nasser, Nasser, Bader Alsaad, Jamal Khashoggi, Randall Stephenson, Fink, Richard Blumenthal, T Rowe Price, Fink –, “ Amin’s, Peter Thal Larsen, Sharon Lam Organizations: YORK, Reuters, BlackRock, Aramco, Kuwait Investment Authority, of, Petroleum, Saudi, Golfers ’ Association, Global Energy, Exxon Mobil, Chevron, Shell, Thomson Locations: BlackRock, Saudi Aramco, Kuwait, Saudi Arabia, United States, U.S, Texas, Connecticut, Aramco

☆ DeSantis campaign urges patience for breakout moment with eye toward first debate
▼ + stars: | 2023-07-14 | by ( Steve Contorno | ) edition.cnn.com time to read: +11 min

CNN —Facing a long summer of running from behind former President Donald Trump, Florida Gov. Ron DeSantis is for now resisting calls to dramatically change course in his presidential campaign, instead targeting the first debate in late August as his opportunity to alter the trajectory of the race. DeSantis’ campaign has already surpassed the donor threshold requirement of 40,000 unique donors and appears on track to meet the polling threshold as well. DeSantis’ political team expects his activity in the coming weeks may look subdued compared to other candidates who may need an attention-grabbing moment to attract donors and support to meet the debate requirements. “People want to support Ron but don’t like this kind of stupid stuff,” the fundraiser told CNN.

Persons: Donald Trump, Ron DeSantis, doesn’t, Trump, it’s, DeSantis, “, Fox’s Maria Bartiromo, Privately, Chris Christie, “ That’s, ”, Erick Erickson, Erickson, Steve Cortes, I’ll, ” Cortes, ” DeSantis, Phillip Huffines, Biden, ” Huffines, he’s, ” Erickson, Jeff Angelo, ” Angelo, Casey, DeSantis ”, Joe Biden, Caitlyn Jenner, Tomi Lahren, Ron Organizations: CNN, Florida Gov, GOP, Trump, New, New Jersey Gov, Summit, PAC, Republicans, Biden, Republican, Twitter, Miss, “ Locations: Florida, South Florida, New Jersey, Iowa, Trump . Iowa, New Hampshire, Texas, Dallas, Ohio, Wisconsin

☆ The Nasdaq-100 index is getting a makeover. Here's how
▼ + stars: | 2023-07-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —The Nasdaq-100 index is getting a fresh look. What happened: The index comprises 100 of the largest non-financial companies listed on the Nasdaq. Seven companies listed in the Nasdaq-100 accounted for roughly 51% of the index as of June 3, according to a note by Louis Navellier, chairman of Navellier & Associates. The Nasdaq is looking to fix that problem – without changing any of the stocks in the index. Nasdaq won’t remove or add any stocks to the index during this rebalance, according to the release.

Persons: Louis Navellier, Apple, Donald Calcagni, ”, What’s, Cameron Lilja, Bob Iger, Ron DeSantis, Tucker Carlson, ” Iger, Read, Hanna Ziady Organizations: CNN Business, Bell, CNN, Nasdaq, Navellier, Associates, Microsoft, Nvidia, Tesla, Apple, Mercer Advisors, Stocks, Florida Gov, Disney, Fox News, CNBC, McKinsey Global Institute Locations: Europe, Florida

☆ How Biden Might Try to Cancel Student Debt Next
▼ + stars: | 2023-07-10 | by ( Ron Lieber | More About Ron Lieber | ) www.nytimes.com time to read: 1 min

On June 30, in the wake of losing a Supreme Court lawsuit over his $400 billion plan to cancel student loan debt, President Biden said he was going to try again. In a fact sheet announcing this second try, the White House wrote that the Education Department will attempt to use the authority it believes it has under the Higher Education Act of 1965. In the Supreme Court case, the Biden administration tried to claim power under a different law, the HEROES Act. This process is likely to take several months at a minimum, and it’s unclear how many people might be eligible for any relief that the administration would eventually offer. The fact sheet was short on details, but the administration said more in a news conference, referring repeatedly to the “compromise and settlement authority” that the education act allows.

Persons: Biden Organizations: Education Department, Higher

529 College Savings PlansI’m a parent of a toddler. What are the implications of following these two approaches: Gamble on financial aid, or be unethical? — A California readerThere are many misconceptions about how 529 college savings plans will affect a prospective student’s eligibility for financial aid, but your initial hunch was correct. If the 529 account is owned by a grandparent or another relative, it is not included in financial aid calculations. Some good news: Grandparent withdrawals will no longer be reported on the upcoming financial aid form, released in December for the 2024-25 academic year, financial aid and 529 experts said.

Persons: Gamble, it’s Organizations: Federal Student Aid Locations: California

☆ Here’s what will happen to your student loans now.
▼ + stars: | 2023-06-30 | by ( Ron Lieber | Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Student loan experts expect the administration to provide a safety net for borrowers, giving them extra time — a grace period of at least three months — to send in their payments. So if a borrower could not make a payment within that period, a late payment would not be reported to credit reporting bureaus. The Education Department released the proposal in January, and a final rule — which may have been tweaked from the initial proposal — was sent to the White House for review on May 23. That means the final version of the plan is closer to being published, which could happen in the coming weeks (You can find our guide on the initial proposal here). But even after the final plan is released, getting it up and running by October will be challenging.

Persons: Biden administration’s, —, Biden, it’s Organizations: Education Department, White House

☆ The Supreme Court Delivered Two Big Rulings
▼ + stars: | 2023-06-30 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

The Supreme Court’s six-member conservative supermajority imposed its authority today in a pair of major decisions that were applauded by the right and denounced by the White House. Justices struck down President Biden’s student debt cancellation program. The Supreme Court ruled that the Education Department did not have the authority to forgive up to $20,000 of student debt, as Biden had promised last year. My colleague Ron Lieber outlined six other ways in which you can still cancel your student debt. The court also backed a business that refused to provide services for gay couples.

Persons: Biden’s, Biden, John Roberts, Ron Lieber Organizations: White, Education Department, Congress

Georgetown University in Washington, D.C. Not everyone with debt would have been covered under the Biden administration’s student loan forgiveness plan. The Supreme Court has barred the Biden administration from carrying out its plan to extinguish up to $20,000 in federal student loan debt, and millions of borrowers will continue to struggle under the weight of their loans. Ms. Schmidt owes $64,000 in student debt, more than half of which is for her graduate work in nursing. But she’s already contemplating how she’ll finance her dream of becoming a civil rights lawyer, which typically requires an additional six figures in student debt. Yet her mother is still paying down student debt of her own.

Persons: Biden, Gina McDavitt, weren’t, Pell, “, ”, McDavitt, ” Ms, Ms, Monica Schmidt, Schmidt, Kevin Serna, Dorien Rogers, Rogers, Asha Anthony, she’s, —, Anthony, Mr, don’t, Joanna Leiserson, Brian Kaiser, “ I’m, Leiserson Organizations: Georgetown University, Biden, College of San, San Francisco State University, The New York Times, University of Phoenix, Northern Illinois University, Public, Schaun, Tax, Howard University, Salisbury University, The New York, Republicans Locations: Washington ,, College of San Mateo, Bay, Vallejo , Calif, Genoa, Ill, Germantown, Md, Credit, Montgomery County, Mesa, Maryland, Spokane, —, forbearance

☆ Ways You Can Still Cancel Your Federal Student Loan Debt
▼ + stars: | 2023-06-30 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

There are still plenty of ways to get your student debt wiped away. That’s because the Supreme Court’s disapproval of the plan does not change laws and regulations that already give many federal student loan borrowers an escape hatch. What follows is a list of ways to eliminate your federal student loan balance aside from paying in full. (Rules are different for private student loans that do not come from the government, and they’re generally much more strict.) If you know someone who is struggling with student loan debt, suggest that the borrower review every last option.

Persons: Biden’s

☆ The Student Loan Borrowers Who Will Continue to Struggle
▼ + stars: | 2023-06-30 | by ( Ron Lieber | Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Now, imagine that you have three children, are separated from your spouse and are earning just $11.50 an hour after spending years raising them. That was the predicament that Joanna Leiserson found herself in when she was living in Spokane, Wash., in 2000 and her oldest child was about to start college. PLUS loans were the only way to afford the schools that best fit her children’s needs. And then there is the matter of any higher power that might have an opinion on the matter. “Which is a community in which all persons can live sustainable lives of dignity and respect.”

Persons: Joanna Leiserson, she’s, ”, “ I’m, Ms, Leiserson Organizations: Public, Republicans Locations: Spokane, —, forbearance

☆ It’s Time for Colleges to Guarantee Prices — Before Students Apply
▼ + stars: | 2023-06-29 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

The majority of families don’t pay full price for the live-on-campus college experience that millions of teenagers seek. That leaves them waiting for the big money reveal after an offer of admission arrives and colleges send out financial aid award letters. Then, if they think they might qualify for need-based aid, seek help from financial aid staff in a separate process. If you do get in, the financial aid office tells you what it thinks you can afford and may offer so-called need-based aid. No application means no surprise and delight if your price, upon admission, is actually affordable.

☆ New data fortifies Eli Lilly's standing in the burgeoning market for weight-loss drugs
▼ + stars: | 2023-06-26 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Eli Lilly (LLY) bolstered its position in the budding weight-loss drug market after new data showed its oral obesity pill was highly effective in a mid-stage study. Eli Lilly shares are taking a breather Monday, but we see no reason to join the sellers. Eli Lilly funded the trial. Eli Lilly stock is down about 1.3% Monday afternoon, likely on some profit-taking following a solid move up last week. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Eli Lilly, LLY, orforglipron, Orforglipron, Eli Lilly's Mounjaro, Mounjaro, Jim Cramer, Lilly's, Geoff Meacham, Meacham, Lilly, It's, we've, Jim Cramer's, Jim, Cristina Arias Organizations: Club, New England, of Medicine, Nordisk, U.S . Food, Drug Administration, Novo Nordisk, Sunday, Bank of America, CNBC, UBS, Pfizer, Company, Pharmaceutical Locations: U.S, Alcobendas, Madrid, Spain

☆ ‘The Flash’ Review: Electric Company
▼ + stars: | 2023-06-14 | by ( Manohla Dargis | ) www.nytimes.com time to read: +2 min

The Flash, the latest DC Comics superhero to get his very own big show, isn’t the outfit’s usual brooding heavyweight. a billionaire), but an electrified nerd who joined the super-ranks by accident, not by birthright or by design. He’s really, really fast on his feet, you bet. That’s a relief, particularly given how the movie tries to clobber you into submission. If the bludgeoning feels more inescapable these days, it’s partly because the major studios now bank so heavily on superhero movies.

Persons: He’s, It’s, Barry Allen, Ezra Miller, Ron Livingston, Maribel, liveliness, Miller, ”, Gardner Fox, Harry Lampert, Robert Kanigher, Carmine Infantino Organizations: DC Comics

☆ President Dimon would be square peg in Oval hole
▼ + stars: | 2023-06-02 | by ( John Foley | ) www.reuters.com time to read: +4 min

NEW YORK, June 2 (Reuters Breakingviews) - The idea of Jamie Dimon running for U.S. president makes sense in one way: After helming JPMorgan (JPM.N), the biggest bank in the Western world, there aren’t many bigger jobs. There are big reasons, however, why Dimon would be a square peg in an Oval Office. If part of former U.S. President Donald Trump’s appeal rested on empty claims of business savvy, Dimon is the real deal. Trump’s financial failings and Epstein connections didn’t stick, but Dimon probably won’t want to test voters again. Follow @johnsfoley on TwitterCONTEXT NEWSBillionaire fund manager Bill Ackman tweeted on May 31 that JPMorgan CEO Jamie Dimon should run for president in the 2024 elections.

Persons: Jamie Dimon, Bill Ackman, Donald Trump’s, Aubrey Immelman, There’s, Jobs, Jeffrey Epstein, Epstein, Dimon, Joe Biden, Donald Trump, Ron DeSantis, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, U.S, JPMorgan, ” Banking, Congress, Bloomberg, Trump, Florida, Republican, Thomson

☆ Target and Disney trip up on the Pride divide
▼ + stars: | 2023-05-31 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

[1/2] A shopping cart is seen in a Target store in the Brooklyn borough of New York, U.S., November 14, 2017. REUTERS/Brendan McDermid/File PhotoNEW YORK, May 31 (Reuters Breakingviews) - Target (TGT.N) and Walt Disney (DIS.N) are fighting different battles over a similar social issue. Of the two, retailer Target has the harder balancing act. The $62 billion retailer run by Brian Cornell last week decided to pull some items from its 2023 collection celebrating Pride Month. Some of Disney’s employees were upset by the regulation and Iger took a stand on their behalf.

Persons: Brendan McDermid, Walt Disney, Brian Cornell, ”, Bob Iger, Ron DeSantis, Iger, Marjorie Taylor Greene, John Foley, Sharon Lam Organizations: REUTERS, Reuters, Target, Pride, Disney, Sunshine, Cornell, Walt Disney, Fox News, Thomson Locations: Brooklyn, New York, U.S, Florida, Orlando, UK

☆ Fact Check-Image of Ron DeSantis in burger restaurant captured in May 2020
▼ + stars: | 2023-05-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An image of Florida governor Ron DeSantis sitting across from former vice president Mike Pence in a burger restaurant was captured in May 2020 when COVID-19 restrictions and social distancing measures in restaurants were still in place. Some shared the image of Pence sitting across from DeSantis with the false claim that it was captured ahead of former president Donald Trump’s rally in Iowa on May 14 (here). IOWA — Just ahead of Trump’s rally, Florida Governor Ron DeSantis and Mike Pence sit down to eat in the same state” (here). DeSantis lifted all remaining COVID-19 restrictions on restaurants in September 2020, months after the image of DeSantis and Pence was captured (here). The image of Pence and DeSantis dates to May 2020.

☆ The Daughter Who Got the Government to Cancel Her Mother’s Debt
▼ + stars: | 2023-05-13 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

After that, Susan went to her second job working with autistic toddlers, while her daughter was in after-school care. The debt repayment process had kicked in while she was raising Arianna, as did the confusion that so many borrowers have faced over the years. There are different types of loans and various interest rates for each of them. There are a bunch of ways you can repay them, a variety of ways to consolidate them and several ways to have the loans canceled. An employee at one of the four entities that had serviced her loans suggested consolidating her debt so she could make just one payment each month.

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