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☆ Why the resilient US economy is making it difficult for stock investors to thrive
▼ + stars: | 2023-02-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The recent stock rally is crumbling as inflation data shows the Fed still has more work to do. But data also shows the economy is strong, and that could help the US avoid a recession. But investors aren't cheering for a strong economy. This follows data earlier in the month that showed the US economy has been resilient in the face of higher interest rates. And, ultimately, the Fed will have the last word for stocks, even if the economy holds up to its aggressive policy.

☆ Wall Street analysts are warning stocks are about to come crashing down
▼ + stars: | 2023-02-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Today's Fed minutes release should provide more insight on what's to come in March. So according to Wilson, stocks have entered this death zone after climbing too high too fast in hopes the Federal Reserve is about to pull back on its aggressive monetary policy. He's reiterated several times this year that the rally will lose steam, and he expects sticky inflation to push the Fed to hold interest rates higher for longer. The bank's analysts now see the Fed raising rates by 25 basis points in June, which would bring the terminal rate to a target range of 5.25-5.5%. "As [stocks] have reached even higher levels, there is now talk of a "no landing" scenario – whatever that means," Wilson noted.

☆ Here's why Wall Street's top analysts don't think the bear market is over
▼ + stars: | 2023-02-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Strategists across Wall Street are warning stocks are in for more pain, despite the strong start to 2023. Morgan Stanley's Mike Wilson compared investors buying stocks now with ill-prepared climbers on Mount Everest. Here's what experts at some of the biggest banks are saying about what's ahead for stocks. Morgan Stanley's top strategist Mike Wilson wrote in a note this week that stocks have soared too high too fast, and those highs will ultimately prove unsustainable. He said the bidding-up of these speculative stocks suggests a bout of massive market volatility could be just around the corner.

☆ Here's why history's most reliable recession indicator no longer works
▼ + stars: | 2023-02-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The inverted yield curve has been one of the most reliable predictors of an imminent recession. In July 2022, the inverted yield curve once again turned negative as the Fed continued to aggressively hike interest rates. But a Monday note from Ned Davis Research argues that the yield curve inversion indicator may no longer be a reliable leading indicator of a coming downturn. Kalish isn't alone in his skepticism of the yield curve inversion indicator. Cam Harvey, the economist and professor who first identified the yield curve as a reliable recession indicator, thinks this time is different.

LONDON, Feb 17 (Reuters) - The U.S. partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform. It did not elaborate on when in 2021 the activity ceased, or comment on Zhao's role at the trading firm. Binance transferred over $400 million from the account at California-based Silvergate Bank to Merit Peak between January and March of 2021, Reuters reported on Thursday. Before that story's publication, Binance.US had told Reuters that "Merit Peak is neither trading nor providing any kind of services on the Binance.US platform," without giving further details. A spokesperson for the global Binance exchange, which did not respond to Reuters' questions for the story on Thursday, told crypto news outlet CoinDesk that the transfers were "a Binance.US issue."

☆ Trump's White House asked Twitter to remove Chrissy Teigen's expletive-filled tweet insulting the former president, ex-employee testifies
▼ + stars: | 2023-02-08 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +4 min

An ex-Twitter employee said Trump's White House asked the company to take down a tweet. Navaroli confirmed on Wednesday that Teigen's expletive-filled tweet was what the White House asked to be removed, though Twitter declined the request. Conservatives have long claimed that social media platforms like Twitter are biased against them, censor their speech and favor liberals. Yet the GOP's push to discuss alleged social media bias against conservatives seemingly backfired during Navaroli's testimony about the Trump White House seeking to remove Teigen's tweet. Three of the four former Twitter officials also testified they had no evidence that Biden's White House had ever asked the company to remove content.

☆ A 16-year-old girl killed in a shark attack was swimming in a river, not the ocean. Bull sharks — considered by some experts the most dangerous — are the rare species that swims in fresh water.
▼ + stars: | 2023-02-07 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

But when a 16-year-old girl in Australia was killed in a shark attack on Saturday, she wasn't swimming in the ocean. Bull sharks are considered by many experts to be the most dangerous sharks in the world. Still, although you are more likely to encounter a bull shark in a river than another species, attacks remain uncommon. In 2022, there were 57 unprovoked shark attacks on humans worldwide, according to the Florida Museum of Natural History's International Shark Attack File. Bull sharks, great white sharks, and tiger sharks are the most common species to be involved in an attack.

☆ Impossible Foods is laying off 20% of its employees in the third round of cuts at the company in roughly a year
▼ + stars: | 2023-01-30 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Impossible Foods is laying off 20% of its workforce, Bloomberg reported Monday. It's the third time in a year that Impossible has made cuts as plant-based meat sales slow down. The plant-based meat brand plans to eliminate 20% of its employees, Bloomberg reported on Monday, citing an unnamed source. A spokeswoman for Impossible Foods did not immediately respond to a request for comment from Insider. In January 2022, Impossible let go of a smaller group of "fewer than 15" employees, Bloomberg reported at the time.

☆ Diary of a CEO host Steven Bartlett has raised a $100 million fund to back the next generation of Europe's unicorn founders
▼ + stars: | 2023-01-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Diary of a CEO host Steven Bartlett has raised $100 million for his new tech investment fund. Flight Story Fund aims to back diverse founders and will target high-growth startups. Steven Bartlett, the host of the hugely popular Diary of a CEO podcast, has raised over $100 million for his new tech investment vehicle. Flight Story Fund wants to back diverse founders who can create Europe's next cohort of startups worth over $1 billion. The fund wants to invest in 20 companies with deals ranging from $1 million to $10 million.

☆ French minister says France still committed to Burkina Faso despite tension
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Benoit TessierOUAGADOUGOU, Jan 10 (Reuters) - A French minister said on Tuesday her government would not stop supporting Burkina Faso in its fight against Islamist militants and wished to remain involved despite growing anti-French sentiment and diplomatic tensions. Relations between France and Burkina Faso, a former French colony, have deteriorated following two military coups this year that were partly spurred by local authorities' failure to protect civilians from jihadist attacks. Tensions flared last month, when the Burkina Faso government requested the replacement of France's ambassador. Protests by opponents of the French military presence surged this year, partly linked to perceptions that France has not done enough to improve security. Zacharopoulou said French troops would remain in Burkina Faso "as long as their presence is desired".

☆ Sam Bankman-Fried doesn't 'have the typical profile of a crook' – and his fear of failure might explain FTX's collapse, Bill Ackman says
▼ + stars: | 2022-12-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Ackman compared SBF to convicted fraudster Bernie Madoff, saying neither "have the typical profile of a crook.' The crypto exchange cofounded by Bankman-Fried seems to have been profitable and backed by top venture capitalists, Ackman said Friday. This reminds me of Madoff," tweeted Ackman, the founder and CEO of hedge fund Pershing Square Capital Management. Young Wall Street trader Bankman-Fried went from relative obscurity to the head of crypto empire FTX in just four years. That runaway success soon after leaving a top college sheltered Bankman-Fried from learning how to cope with failure, Ackman suggested.

☆ I asked ChatGPT to do my work and write an Insider article for me. It quickly generated an alarmingly convincing article filled with misinformation.
▼ + stars: | 2022-12-19 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +4 min

I asked ChatGPT, a new AI chatbot from OpenAI, to do my work and write a news article. So when I heard about ChatGPT, a language model developed by OpenAI, I was eager to give it a try." Despite its impressive language capabilities, ChatGPT struggled with understanding context and nuance, leading to some awkward and sometimes outright incorrect responses." - ChatGPTI asked ChatGPT to write a headline for this piece. It responded, "Trying ChatGPT for Writing: The Pros and Cons of Using a Language Model for Journalism."

☆ Panic over sex toy sales at CVS and Target is overblown— they've been sold at the retailers for years
▼ + stars: | 2022-12-16 | by ( Avery Hartmans | Alex Bitter | ) www.businessinsider.com time to read: +3 min

Conservative lawmakers and pundits criticized stores like Target and CVS for stocking sex toys. While the right-wing pundits' ire may be recent, sex toys and sexual wellness products have long been sold at mainstream retailers. The brand, which sells products like sex toys and erectile dysfunction medication, sells its products at Walmart, Target, and CVS. Walmart, Target, CVS, Bloomi, and Cake did not immediately respond to Insider's request for comment. "This industry, in general, intimacy and sexual wellness, has been becoming more normalized over the years over the last decade, for sure."

☆ Sam Bankman-Fried's FTX had the corporate governance of a college fraternity, congressman says
▼ + stars: | 2022-12-15 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

A congressman likened collapsed exchange FTX's corporate governance to a college fraternity. "It would be laughable were it not so serious," congressman Ritchie Torres said. In reality, the company was more like a college fraternity, congressman Ritchie Torres says, with haphazard and reckless bookkeeping practices. "FTX had the corporate governance of a fraternity," Torres, a member of the House Financial Services Committee, told Coindesk TV on Wednesday. The now-bankrupt exchange used QuickBooks, an accounting software generally used by smaller businesses, not multi-billion dollar companies.

☆ Inside the stunning unraveling of Bright Health, a health-insurance upstart that rocketed to an $11.2 billion valuation and then cratered as it grew too fast
▼ + stars: | 2022-12-05 | by ( ) www.businessinsider.com time to read: +11 min

Bright Health Group grew fast. "We're just starting to realize the full potential of our differentiated model, and we're excited about the future of Bright Health Group," Bright CEO G. Mike Mikan told analysts at that investor event. Bright Health is one of a handful of upstarts trying to take on the health-insurance industry. Clover Health; Bright Health; Oscar Health; Olivia Reaney/Business InsiderBreaking into the health-insurance industry is tough. Bright moves to cut expensesAs losses mounted in 2021, Bright scrambled to raise capital.

☆ You may think Twitter was wrong to censor the Hunter Biden laptop story but it wasn't a violation of the First Amendment
▼ + stars: | 2022-12-05 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Twitter, as a private company and not the government, can choose what it does and does not publish. But whether or not the decision was wrong, it wasn't a violation of the First Amendment of the Constitution. "Twitter is not a state actor and the First Amendment applies only to state actors." So whether or not Twitter could violate the First Amendment, depends on whether or not it can be considered the government. "Both the state, the Trump White House, and the Biden team were asking Twitter, and Twitter was under no obligation to either oblige or refuse those requests," Kalir said.

Trinidad Gonzales, a professor of history and Mexican American studies at South Texas College, has been honored with the 2022 John Lewis Award for History and Social Justice. Refusing to Forget's work spurred an award-winning exhibit at the Bullock Texas State History Museum in Austin — the first time the state had publicly addressed "La Matanza." He played a role in a five-year battle to help change state standards for high school Mexican American history classes. “We all knew internally that it wasn’t just simply a fight for Mexican American studies,” Gonzales told South Texas College. "We're fearful that they're going to try to eliminate Mexican American studies, African American Studies, Indigenous Studies and Asian American studies," Gonzales said in the interview.

☆ Elon Musk says he'll release details about 'what really happened with the Hunter Biden story suppression by Twitter'
▼ + stars: | 2022-12-02 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Elon Musk says he's releasing details on Twitter's "suppression" of a story about Hunter Biden's laptop. ET on what he says was Twitter's "suppression" of a controversial story about Hunter Biden's laptop before the 2020 election when the site was under different ownership. Last month, Musk tweeted that making public internal discussions about decisions regarding the story "is necessary to restore public trust." Rep. James Comer, R-Ky., the ranking member on the House Oversight Committee, asked Musk for these documents in October as part of their investigation into Hunter Biden's business dealings. No evidence to date has suggested that Hunter Biden's work influenced his father's policy decisions.

☆ EXCLUSIVE Tesla mulls exporting China-made EVs to United States-sources
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +5 min

Tesla's Shanghai Gigafactory has the capacity to produce 1.1 million electric vehicles per year after an upgrade earlier this year, making it Tesla's most productive manufacturing hub. The California plant, Tesla's first, produces the Model S, the Model 3 sedans and the Model X and Model Y crossovers. At the same time, the price gap between Tesla cars sold in China and the United States has been widening, reflecting both higher U.S. prices and new discounts in China. Tesla sells the Model Y for the equivalent of $49,344 in China, compared to the U.S. price of $65,990. loadingTesla would not be the first U.S. automaker to ship made-in-China vehicles to the United States.

☆ $2.04 billion Powerball jackpot is now the largest prize in history—here are the top 5 so far
▼ + stars: | 2022-11-10 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

The $2.04 billion Powerball jackpot finally found a winner on Tuesday morning, after technical difficulties delayed the drawing that had been scheduled to take place on Monday. The massive prize marked the fifth time in the past five years that a lottery jackpot has crossed the billion-dollar threshold — and this one was a world record. That one was also a Powerball drawing that reached $1.586 billion and was split between three winning tickets. $1.59 billion (Powerball)This Powerball drawing from Jan. 13, 2016, for which three winning tickets were sold, held the record as history's biggest lottery prize for more than six years, until this week's Powerball drawing dropped it down a spot. $1.34 billion (Mega Millions)The first billion-dollar jackpot of 2022 topped $1.3 billion before it found a winner in July.

☆ Thirty-year old crypto tycoon Sam Bankman-Fried was worth $16 billion. 94% of that was wiped out in just one day.
▼ + stars: | 2022-11-09 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried saw nearly all of his net worth wiped out in a day. His crypto-exchange platform, FTX, was seemingly on the verge of collapse before Binance agreed to buy it on Tuesday. Bankman-Fried saw his next worth plunge 94% in one day, the largest drop ever for a billionaire, according to Bloomberg. On Monday, Bankman-Fried was considered one of the world's wealthiest people, with a net worth of $16 billion. The Bloomberg Billionaires Index estimates that Bankman-Fried's net worth crashed by 94% on Tuesday, making it the biggest one-day collapse in wealth ever among billionaires.

☆ The $1.6 billion Powerball jackpot is now the largest ever—here are the top 5 so far
▼ + stars: | 2022-11-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Once again, a lottery jackpot has crossed the billion-dollar threshold — the fifth time in the past five years — and this one is a world record. Saturday's Powerball drawing now has a jackpot of $1.6 billion, the largest ever, after no winners were announced for Wednesday night's $1.2 billion drawing. That one was also a Powerball drawing that reached $1.586 billion and was split between three winning tickets. $1.34 billion (Mega Millions)As mentioned above, the record Powerball drawing is already the second billion-dollar jackpot of 2022. $768.4 million (Powerball)

☆ Here's how to spot high-quality dividend stocks and manage risk in an unprecedented bear market, according to a 33-year investing veteran who runs a $16 billion fund
▼ + stars: | 2022-10-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

John Linehan of T. Rowe Price shared how he manages over $16 billion in assets. John Linehan, the chief investment officer for equities at T. Rowe Price, has encountered plenty of different investing landscapes in his 33-year career. Linehan, who manages over $16 billion in assets in the T. Rowe Price Equity Income Fund (PRFDX), is currently attempting to thread the needle between playing offense and defense. High, reliable dividend yields are vital to the T. Rowe Price Equity Income Fund, Linehan said, but the size of the quarterly payment is far from his only consideration on that front. "We're looking for companies that have both an attractive yield but also attractive attributes beyond the yield," Linehan said.

☆ Maryland Gov. Larry Hogan takes aim at Biden and 'performative' DeSantis amid speculation he's eyeing a 2024 run
▼ + stars: | 2022-10-13 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +5 min

Larry Hogan of Maryland criticized President Joe Biden and Florida Gov. Ron DeSantis during a recent speech in New Hampshire, amid growing speculation that he'll seek the White House in 2024. The Florida governor is up for reelection in November and hasn't said he's seeking the White House, but polling shows he's been edging onto Trump as a GOP favorite. Neither the White House nor the Florida governor's office responded to a request for comment before this story's publication. Should Hogan run for president he would join what is becoming a crowded field of GOP potential contenders.

☆ A rout by the US in an air battle around Taiwan led Japan to adopt desperate tactics in World War II's final months
▼ + stars: | 2022-10-12 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

Their goal was to destroy as much of Japan's air and naval strength before US troops landed on the Philippine island of Leyte. A diversionA Japanese heavy cruiser after being bombed by US Navy aircraft during the Battle of Midway in June 1942. But Japan's air and naval power were still major threats, and to ensure the Philippines could be liberated, they had to be degraded, if not eliminated. By 1944, Japanese military leaders recognized their situation and devised a plan to prepare for US invasions of Japanese-held territory. Japanese attempts to attack the carriers were fruitless, with 42 more Japanese planes shot down trying to conduct attack runs.

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