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☆ Wells Fargo downgrades FedEx, says there's lower revenue growth ahead
▼ + stars: | 2022-10-24 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Analyst Allison Poliniak-Cusic downgraded shares of FedEx to equal weight from overweight in anticipation of lower revenue growth ahead. "FDX's new savings outlook calls for a greater portion of targeted profits to come from cost savings, which implies less from growth, and by extension, lower revenue growth." According to the note, FedEx could grow revenue at a 2% compounded annual growth rate, compared to a historical CAGR of 6% . However, that evolution will take time, measured in years not quarters," Poliniak-Cusic wrote. Thus, we believe there is additional pressure ahead," Poliniak-Cusic added.

☆ ‘M3GAN,’ the next generation of creepy doll movies, is not playing around
▼ + stars: | 2022-10-23 | by ( Dan Heching | ) edition.cnn.com time to read: +6 min

“M3GAN” doesn’t hit theaters until January, but the movie’s quick, zeitgeist-piercing creepiness as seen in the teaser is something to behold. “I was always thinking of her as real,” “M3GAN” director Gerard Johnston told CNN of his approach. Universal PicturesJohnstone set out to make Megan (short for “Model 3 generative android,” Williams explains in the trailer) more than just a creepy inanimate doll. “Because she is a living doll… [‘M3GAN’ is a] cautionary tale about A.I. Like creepy doll movies, stories that explore evil and/or self-aware technology call to mind the troublesome and blurry line where the inanimate object ends, and where something akin to humanity – but somehow different – begins.

CNN —Six people who tested positive for monkeypox – two in New York City, two in Chicago, one in Nevada and one in Maryland – have died, local health departments have confirmed. The two Chicagoans who died after testing positive for monkeypox had multiple other health conditions, including weakened immune systems, according to the Chicago Department of Health (CDPH). A person with monkeypox in Houston died in August, but officials have not determined whether the virus caused the death. In late September, Ohio reported its first death of a person with monkeypox but noted that “the individual also had other health conditions.”It can be difficult to determine if someone has died of monkeypox. There were 27,884 probable or confirmed monkeypox cases reported in the US as of Friday, according to the Centers for Disease Control and Prevention.

Rep. Mayra Flores speaks at the University Draft House in McAllen, Texas, on Oct. 10. “I still believe at the end of the day this is still a solid, moderate Democratic region,” González said. A fighting chanceOf the three Latina Republicans running, Mónica De La Cruz, endorsed by former President Donald Trump and running in an adjacent congressional district, Texas' 15th, is considered the party's best chance to win. Soon after being sworn in to Congress, Flores voted against the landmark gun safety bill pushed through Congress by Sen. John Cornyn, the Texas Republican. Francisco Medrano Jr., of Harlingen, says he’s likely to support Republican Mayra Flores.

☆ Buying a Home Gets Easier in a Cooler Market—for Those Who Can Afford It
▼ + stars: | 2022-10-22 | by ( Ben Eisen | Photographs M. Scott Brauer For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Home prices have jumped, mortgage rates are rising fast and the economy might be heading into a recession. So Eric Lanser and Allison Manfreda decided to go house shopping. The potent mix of challenges facing buyers has slowed the housing market, but millions of homes are still changing hands this year. Some buyers are finding that they would prefer to hunt now than deal with the bidding wars and sight-unseen purchases that defined last year’s frenzied market.

☆ For $15k and a signed NDA, students at Kanye West's unaccredited Donda Academy start the day with 'full school worship' before parkour enrichment classes
▼ + stars: | 2022-10-22 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

The unaccredited pre-K through 12th-grade school, Donda Academy, costs $15,000 per year to attend, Rolling Stone reported. In comparison, Donda Academy charges $15,000 per student, Rolling Stone reported, with about half of students receiving some sort of financial aid. Donda Academy, its principal, Brianne Campbell; assistant principal, Allison Tidwell; and sports director Shayla Scott did not respond to Insider's requests for comment. Tamar Andrews, an educational consultant for Donda Academy, confirmed to Rolling Stone that parents are asked to sign an "informal agreement" to enroll. "The process of Donda school is for the parishioners, for the attendees," Yusef told Rolling Stone.

☆ Telia cuts outlook as soaring energy costs eat into profit
▼ + stars: | 2022-10-21 | by ( Supantha Mukherjee | ) www.reuters.com time to read: +2 min

Electricity prices have hit record levels in Europe after Russia's invasion of Ukraine and a fall in nuclear power production in several countries. Telia, which operates in the Nordic and Baltic countries, has hedged expects electricity costs to go up by 600 million crowns from 2.2 billion in 2022. Despite higher energy costs, quarterly core earnings were broadly in line with market expectations as Telia's business grew in all its markets for the first time in a decade. Third-quarter adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) rose to 8.07 billion Swedish crowns from 7.74 billion a year ago, while analysts had expected 8.13 billion crowns, according to a company-provided poll. In the latest quarter, the company saved 100 million crowns in costs.

☆ ‘Listen, World!’ Review: Hear Her Roar
▼ + stars: | 2022-10-20 | by ( Charlotte Gray | ) www.wsj.com time to read: +1 min

Elsie Robinson was born in 1883 into a down-at-heel family in a blue-collar California town. Restless and rebellious, the tall, square-jawed teenager dreamt of going to college but seemed doomed to the life of a repressed Victorian housewife, miserable in her marriage and thwarted in her hopes. Yet she would become, in the words of Julia Scheeres and Allison Gilbert, “one of the most prominent and powerful writers in America,” the highest-paid woman columnist in the mighty Hearst empire. In their lively biography “Listen, World! She urged women to dream big: “I’m tired of hearing the differences of men and women emphasized and exploited.”

☆ Big bargains will dominate the holiday season, but shoppers may not be sold
▼ + stars: | 2022-10-20 | by ( Melissa Repko | ) www.cnbc.com time to read: +5 min

Last holiday season, shoppers started buying gifts early to avoid out-of-stocks and shipping delays. Even with the bigger discounts, industry-watchers expect a muted holiday season because of households' stretched budgets. Consulting firm Bain & Co. forecasts growth of as much as 7.5% from last holiday season, but when adjusted for inflation, that is only 1% to 3%. Computers, the category that's expected to have the highest level of discounting during the holiday season, according to Adobe, has seen cooling demand. More items were on sale during backyard barbecue season than during peak holiday season a year ago.

☆ Even the uber-rich are fretting about the economy now
▼ + stars: | 2022-10-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN Business —Even the uber-rich are on edge now about the economy. Musk, for his part, was a little more sanguine as he sought (unsuccessfully, in the end) to ease Wall Street’s concerns about Tesla’s growth prospects. Yep, the probabilities in this economy tell you to batten down the hatches. The comments from Musk and Bezos add to a chorus of powerful figures fretting that the economy is going to take a turn for the worse. I want to know.”It’s a reasonable worry: Researchers recently put the probability of a global recession at a little over 98%.

☆ The Trumps really, really, wanted a new judge in NY's $250M fraud lawsuit. But that judge's boss just said no.
▼ + stars: | 2022-10-20 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Donald Trump and his sons had repeatedly asked for a new judge in NY's $250 million fraud lawsuit. The current judge, state Supreme Court Justice Arthur Engoron, once held Trump in contempt of court. James is especially concerned that Trump may try to move assets from the Trump Organization to a new entity he created, the Trump Organization II. Trump's lawyer in the matter, Habba, called James' latest demands a "stunt." In a press statement Thursday she said, "We have repeatedly provided assurance, in writing, that the Trump Organization has no intention of doing anything improper."

☆ Gulfstream Aerospace weighs G550 replacement for special missions
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

ORLANDO, Fla., Oct 17 (Reuters) - General Dynamics Corp's (GD.N) Gulfstream Aerospace is weighing one of its business jets to replace its popular G550 aircraft which is now out of production for special mission purposes, President Mark Burns said on Monday. Governments are eying "special mission" business jets capable of looking or listening at potentially lower running costs than converted passenger or military planes. The rising demand for small jets with systems once reserved for bigger planes has energised a market led by Gulfstream, which faces challenges from rivals Bombardier (BBDb.TO) and France's Dassault Aviation SA (AM.PA). In September, Canada's Bombardier Inc (BBDb.TO) said the company's defense business involving special mission private jets could grow to a possible $1 billion in annual revenues from a 'fraction' of it right now. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Allison Lampert in Orlando, Fla.

☆ Private jet makers tout emission-fighting efforts, backlogs at air show
▼ + stars: | 2022-10-17 | by ( Allison Lampert | ) www.reuters.com time to read: +5 min

It will also test the strength of business jet demand, which surged during COVID-19 and swelled order backlogs, but could now face a softer economy. Honeywell International Inc (HON.O) has forecast up to 8,500 new business jet deliveries worth $274 billion from 2023 to 2032, up 15% from last year's outlook. BUSY QUARTERU.S. business jet traffic recovered faster in 2021 than commercial flight traffic, soaring above 2019 levels. Independent aviation analyst Brian Foley expects private jet usage in the United States to go down to more traditional levels this fall. Despite being a sellers' market, aviation attorney Stewart Lapayowker sees some early signs of softness.

☆ Private jet makers tout emissions-fighting efforts, backlogs at air show
▼ + stars: | 2022-10-17 | by ( Allison Lampert | ) www.reuters.com time to read: +4 min

It will also test the strength of business jet demand, which surged during COVID-19 and swelled order backlogs, but could now face a softer economy. BUSY QUARTERU.S. business jet traffic recovered faster in 2021 than commercial flight traffic, soaring above 2019 levels. Independent aviation analyst Brian Foley expects private jet usage in the United States to go down to more traditional levels this fall. Despite being a sellers' market, aviation attorney Stewart Lapayowker sees some early signs of softness. Some buyers in real estate and construction, sectors hit by rising rates, are reconsidering their orders, said Lapayowker, who leads Lapayowker Jet Counsel in Florida.

☆ Strategies to navigate the $68 trillion 'great wealth transfer,' according to top-ranked advisors
▼ + stars: | 2022-10-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

At the same time, the greatest generational wealth transfer in history is underway, with baby boomers set to pass to their children more than $68 trillion. Here are four key considerations to help families prepare, according to CNBC's top-ranked financial advisors. Family legacyThe first hurdle is often bringing generations together to discuss their family legacy, advisors say. "Parents have gotten used to managing their wealth over 20, 30 or 40 years; kids have less than a year." "Financial literacy is a huge part of this wealth transfer," Mirsberger also added.

☆ Xi Jinping has silver linings for rest of world
▼ + stars: | 2022-10-17 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

LONDON, Oct 17 (Reuters Breakingviews) - A third term for Xi Jinping would risk a cold war, or even a hot one. Until recently, most analysts agreed it was only a matter of time before China’s economy, which was three-quarters the size of America’s in dollar terms last year, became the world’s largest. Register now for FREE unlimited access to Reuters.com RegisterSTUCK IN SECONDBut China’s economy is running into all sorts of problems. But Beijing-based Dimitri De Boer, of the environmental organisation Client Earth, thinks that’s very unlikely because the target is binding and China’s president has positioned himself as an environmental champion. But Germany challenged Britain in World War I when its economy was still powering ahead, according to Allison.

☆ 'The Vow Part Two' review: HBO turns to the Nxivm and Keith Raniere trial in docu-sequel
▼ + stars: | 2022-10-17 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +4 min

CNN —The bizarre and salacious nature of “The Vow,” with its intensely detailed look at the Nxivm cult, made the docuseries an understandable sensation, so much so that HBO came back for more. While “The Vow Part Two” gives viewers a front-row seat of the federal trial against founder Keith Raniere, it’s a more fragmented exercise that feels unduly stretched over six parts. Despite Nxivm’s obsession with loyalty, it’s a good reminder that what happens in Vegas seldom stays there. “Allison is a victim who was sent out to do something that she believed was good because she believed Keith was good,” Salzman explains. Warts and all, the totality of “The Vow,” including the earlier episodes, makes for fairly intoxicating viewing.

☆ Ahead of the midterms, Black women voters most concerned about costs of living, poll shows
▼ + stars: | 2022-10-16 | by ( Donna M. Owens | ) www.nbcnews.com time to read: +8 min

Change Research conducted the online survey of 715 adult Black women voters who were recruited via web and text message. The majority of Black women who responded felt they are “under-represented,” or that “more representation” is needed. Black women represent 53% of Black eligible voters, slightly higher than all eligible voters (51%) in the country. Many gave mixed answers, expressing both excitement and optimism about the advances Black women have made and their power, as well as frustration about the state of the country and how Black women are treated. There are currently no Black women in the Senate after former California Sen. Kamala Harris won the vice presidency.

☆ Liverpool jolt Man City as Arsenal go four points clear
▼ + stars: | 2022-10-16 | by ( Martyn Herman | Tommy Lund | ) www.reuters.com time to read: +5 min

City, who could have gone 16 points clear of their hosts with a win, had a Phil Foden goal disallowed, while Liverpool manager Juergen Klopp was shown a red card for remonstrating with a linesman after a tackle on Salah. Mikel Arteta's side have 27 points from 10 games with City and Tottenham Hotspur on 23. Chelsea are in fourth spot with 19 points, with a game in hand, thanks to a 2-0 win at Aston Villa courtesy of a double by England midfielder Mason Mount. Manchester United are fifth with 16 points from nine games after drawing 0-0 at home to sixth-placed Newcastle United, who have 15. Despite Arsenal's flying start to the season the popular theory is that relentless City are primed to claim a fifth title in six seasons.

☆ TikTokers are smashing the stigma of getting laid off as a recession looms and more people fear for their jobs: 'Posting it on TikTok was the best thing I could have done'
▼ + stars: | 2022-10-16 | by ( Jason Lalljee | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

"I had suspicions a layoff would happen, but the CMO seemed very positive about building a marketing team at the company, so I didn't let my thoughts wander for long," Baird told Insider. "Getting laid off so many times has made me hesitant about taking another full-time job in the near future," she told Insider. "Posting it on TikTok was the best thing I could have done, it got me real support emotionally," she told Insider. And as businesses reiterated just how much they need workers, those workers expectations' changed, too. Nhon N., a 24-year-old recruiter who documented life after her layoff, told Insider that she's still a "struggling workaholic" who puts "too much heart" into her work.

They also note that adjustable rate mortgages and other atypical home loans make up a much smaller percentage of total mortgages than what was seen during the 2008 crash. But consumer advocates and others close to the real estate industry warn that homebuyers could still find themselves in a precarious financial position when their mortgage interest rates reset and they find their monthly payments going up. “We are watching anxiously as we see more interest in these alternative mortgage products that often seem to involve some sort of initial teaser interest rate and the interest rate is going to go up,” said Sarah Mancini, a staff attorney with the National Consumer Law Center. “Now, they are feeling like, 'Oh, God, higher interest rates are coming, we want to jump on it, we don’t want to miss it again,'" said Holeman. In marketing material, mortgage brokers often suggest that buyers can refinance after the two-year period, suggesting rates will go down in the near future.

☆ Beyond Meat executive who allegedly bit a man’s nose will leave the company
▼ + stars: | 2022-10-14 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —Beyond Meat Chief Operating Officer Doug Ramsey is leaving the company after his recent arrest for assault. Ramsey was arrested last month on on charges of “terroristic threatening” and third-degree battery after he allegedly bit a man’s nose following a Arkansas football game. In a SEC filing, the company announced Ramsey’s departure, noting Friday will be his last day of employment. Ramsey joined Beyond Meat in December last year, pivoting from a three-decade career at Tyson Foods (TSN). Beyond Meat had been a market leader in the plant-based meat space, alongside rival Impossible Foods.

REUTERS/Joshua Schneyer/File PhotoOct 14 (Reuters) - Hyundai Motor Co's (005380.KS) air taxi unit has picked aerospace supplier Honeywell International Inc (HON.O) to develop avionics systems for its eVTOL (electric vertical take-off and landing) aircraft, the companies said, ahead of an announcement next week. "We want to see the FAA come out with its set of certification rules, quickly. Honeywell's collaboration with Supernal is its first with an air taxi firm established by an automaker. The company, which is a big supplier to Boeing Co (BA.N) and Airbus SE (AIR.PA), also has investments in other eVTOL firms - Lilium, Vertical Aerospace and Volocopter. The company expects the overall market for air taxis to be about $120 billion per year by 2030, Fymat added.

☆ Inflation: Is the Fed losing the war?
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

“This inflation report today was an unmitigated disaster,” wrote Christopher S. Rupkey, chief economist at Fwdbonds, a financial markets research company. Is the Fed losing the fight against inflation? But the effects of rate hikes can take months to be felt in the real economy. But the Fed is “losing the war” when it comes to price hikes for the services sector. Ultimately, some say the problem of pandemic-era inflation is just too complex to be fixed with the Fed’s blunt tools.

☆ The Fed is losing the war against inflation
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

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