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☆ A 32-hour work week helped this company's employees juggle self-care, side hustles, pets, and parenting 'without feeling like they're going to be penalized'
▼ + stars: | 2023-05-07 | by ( Grace Mayer | ) www.businessinsider.com time to read: +4 min

4-day work week trials have found a shortened work week can improve employees' work-life balance. vChief says its 4-day work week helps employees juggle jobs as parents, self-care, and side hustles. Niebauer said that the 4-day work week has helped the company with employee retention, and they've also attracted over-qualified candidates for the company's roles. "Without feeling like they're going to be penalized for it, without feeling like they're going to look like they're distracted at work." "I really believe that people shouldn't live their lives for work," Niebauer said.

It also highlights Russian frustration at failing to complete the capture of Bakhmut after more than nine months of costly, intense battle. ANGRY TIRADEWhat looked real, however, was Prigozhin's fury at Defence Minister Sergei Shoigu and Chief of General Staff Valery Gerasimov. "If Putin wants him to be in combat, he'll force him in one way or another to do so." Marten said its involvement in the battle for Bakhmut, including fighters recruited from Russian prisons, had allowed Putin to avoid declaring a full-scale mobilization. Whatever its immediate intentions around Bakhmut, Wagner is likely to remain a significant player in the war, given Prigozhin's personal ambitions and determination to stay in the limelight.

☆ 10 Things in Tech: Joe Biden has tried ChatGPT, Silicon Valley goes sober, and leaked Shopify audio
▼ + stars: | 2023-05-05 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

And Silicon Valley is catching on, too. My colleague Samantha Stokes did a deep dive into the growing trend of techies avoiding alcohol. Silicon Valley goes sober. My colleague Samantha Stokes examined this growing trend in Silicon Valley and gives some insight into the drying industry. In other news:Screenshot of Hot Chat 30002.

☆ Lebanon central bank chief's brother questioned at European fraud probe hearing
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

In a nearly five-hour session in which Raja was questioned about his brother's wealth, he told investigators that Forry was solely owned by him. He said $155 million in funds he amassed came from investment profits made over ten years from accrued interest and foreign exchange transactions. The documents say prosecutors suspect Riad used fake banking documents in Raja's name to cover up illicit sources of wealth. The European investigators are also set on Friday to question caretaker finance minister Youssef el-Khalil , who still serves as the central bank's head of financial operations. French prosecutors have informed Riad that they intend to press charges of fraud and aggravated money laundering during a planned hearing in France on May 16.

☆ Stock futures rise slightly following Apple earnings: Live updates
▼ + stars: | 2023-05-04 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on April 21, 2023 in New York City. Stock futures ticked higher Thursday evening. S&P 500 futures inched up by 0.24%, while futures tied to the Dow Jones Industrial Average gained 46 points, or 0.14%. The S&P 500 lost 0.72%, while the Nasdaq Composite dropped 0.49%. The S&P 500 is off 2.6%, while the Nasdaq is off 2.1%.

☆ 'Big Short' investor Michael Burry broke down his iconic bet against the US housing bubble during a 2008 meeting with a Warren Buffett acolyte - but his warning and advice were ignored.
▼ + stars: | 2023-05-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Michael Burry told a Warren Buffett disciple exactly how to bet against the housing bubble in 2008. However, Mohnish Pabrai ignored the warning and advice from "The Big Short" investor. Burry invited the head of Pabrai Investment Funds to his office, and immediately launched into a detailed explanation of his iconic bet against the housing bubble, Pabrai recalled during a recent Mint interview. "He implored me to go long CDS on MBS," Pabrai said about Burry in a recent tweet. Burry repeatedly sounded the alarm on the housing bubble before it imploded, but virtually nobody listened.

☆ Russians trying to help the Kremlin are being scammed into throwing Molotov cocktails at its offices and cars instead: reports
▼ + stars: | 2023-04-28 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

They were told by scammers to chuck Molotov cocktails, but most were unsuccessful, per local media. The people involved have tried to set fire to enlistment offices, bank ATMs, a car trunk, and a police department, though most have been unsuccessful, the outlet reported. Olga told authorities an unknown man had been calling her for a month, saying he was a bank employee. He'd taught Olga how to create the Molotov cocktails and instructed her to start a fire in the government building, according to Shot. We're standing on the street where they stopped me," Olga told the man on the phone.

☆ European investigators question Lebanon c.bank chief's assistant in fraud probe
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, April 27 (Reuters) - European investigators in Beirut questioned an assistant to Lebanon's central bank governor on Thursday as part of a probe into whether the governor embezzled and laundered hundreds of millions of dollars in public funds, local media and a judicial source said. Marianne Houayek, 42 and a longtime assistant to the governor, was scheduled to be questioned as a suspect, according to a schedule for the European investigators seen by Reuters. A French court document seen by Reuters says up to $5 million euros from the central bank ultimately went to Houayek via accounts in Switzerland and Luxembourg. The European investigators questioned the governor in Beirut in March and returned on Monday for further hearings. The European investigators are also set to question caretaker finance minister Youssef el-Khalil, who still serves as the central bank's head of financial operations, as well as other top officials of the bank.

☆ New BOJ chief's first task may be to tweak forward guidance
▼ + stars: | 2023-04-26 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

A shift to a less dovish bias could signal a near-term tweak to YCC, analysts say. GUIDANCE QUESTIONSUeda left few clues on how soon the guidance could change, telling an inaugural news conference on April 10 that the board will "discuss all options at each of our policy meetings." Under current projections made in January, the BOJ expects core consumer inflation to hit 1.6% this year and 1.8% in fiscal 2024. Many analysts expect the BOJ to project inflation to hover near, but stay slightly below, the bank's 2% target for both fiscal 2024 and 2025. Ueda is expected to hold a news conference after the policy meeting on Friday to explain the bank's decision.

☆ Elon Musk's blue-check saga marks the beginning of the end for Twitter, top Tesla investor says
▼ + stars: | 2023-04-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Top Tesla and Twitter investor Ross Gerber is not happy with Elon Musk. He said Musk's decision to hand out free blue checks was the beginning of the end for Twitter. Top Tesla and Twitter investor Ross Gerber said the latest turmoil at Twitter could spell the beginning of the end for the company. A subscription to Twitter Blue costs $8 a month, but many celebrities and news organizations have refused to pay. The investor added that Twitter was in a further state of confusion after several accounts belonging to dead users had blue checks returned to their profiles.

☆ Larry Summers says the Fed has inflation on the ropes, calls out crypto frauds, and bemoans the debt-ceiling fiasco. Here are the ex-Treasury chief's 12 best quotes from a new interview.
▼ + stars: | 2023-04-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The Fed may only have to hike interest rates once more to beat inflation, Larry Summers says. Here are Summers' 12 best quotes, lightly edited for length and clarity:The Fed and interest rates:1. "There's an old political observation: 100% of the people pay rising prices, and only 6% of the people are unemployed. I think there's some logic to that." I don't think the idea of defaulting on the debt associated with spending we've already done should be on the table."

☆ Allies move to bolster Ukrainian tank forces ahead of counteroffensive
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +5 min

Ukraine has pressed its allies for long-range weapons, jets and ammunition ahead of a counteroffensive to push back Russian troops that is expected in the coming weeks or months. Abrams battle tanks will arrive in Germany in the coming weeks for Ukrainian troops to begin training, U.S. Defence Secretary Lloyd Austin told reporters. NATO member states and their allies have provided Ukraine with weapons and armour, but Ukraine's leadership has repeatedly asked for more powerful weapons and quicker supplies. "The Russians are cautious to come into Ukraine because of the effective use of the Ukrainian air defense system. Hungarian Prime Minister Viktor Orban poured cold water on Ukraine's NATO prospects, simply tweeting "What?!"

☆ NATO chief visits Kyiv: Jens Stoltenberg says Ukraine's "rightful place" is in the alliance
▼ + stars: | 2023-04-20 | by ( Sana Noor Haq Luke Mcgee Alex Hardie Zahid Mahmood Victoria Butenko | Sana Noor Haq | Luke Mcgee | ) edition.cnn.com time to read: +5 min

CNN —NATO Secretary General Jens Stoltenberg said Thursday “Ukraine’s future is in NATO,” in his strongest remarks reaffirming ties with Kyiv since Russia launched its full-scale invasion in February 2022. NATO Secretary General Jens Stoltenberg visits the Wall of Remembrance to pay tribute to fallen Ukrainian soldiers in Kyiv on April 20, 2023. Gleb Garanich/ReutersStoltenberg (left) and President Volodymyr Zelensky (right) meet during the alliance chief's historic trip to Ukraine on Thursday. Finnish public support for accession snowballed following the invasion of Ukraine, and also reignited calls from Kyiv to join. Speaking at a joint conference in Kyiv, Zelensky said he valued the support from the alliance but pressed Stoltenberg on when Ukraine would be invited to join NATO.

☆ New BOJ chief's message to world: We're staying the course - for now
▼ + stars: | 2023-04-17 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Under YCC, the BOJ guides short-term rates at -0.1% and the 10-year Japan government bond yield around zero with an implicit cap of 0.5%. "We're in an economy where we're going to be hit more by supply shocks, and monetary policy will face more serious trade-offs," she said on Friday. Ranil Salgado, the IMF's Japan mission chief, sees scope for the BOJ to modify the long-term yield target this year, given heightening prospects of durable wage growth. As long as the short-term rates remain zero or slightly negative, the BOJ can keep monetary policy accommodative even if it tweaks the yield target, he said. "We are advising (the BOJ) to pretty much already be thinking about it," Salgado said on the idea of tweaking YCC.

The Sudanese Doctors' Union earlier reported at least 25 people were killed and 183 wounded in battles that erupted on Saturday between the military and the RSF. The army told soldiers seconded to the RSF to report to nearby army units, which could deplete RSF ranks if they obey. The military and RSF, which analysts say is 100,000 strong, have been competing for power as political factions negotiate forming a transitional government after a 2021 military coup. The RSF shared a video that it said showed Egyptian troops who "surrendered" to them in Merowe. Clashes also erupted between the RSF and army in the Darfur cities of El Fasher and Nyala, eyewitnesses said.

☆ Elon Musk says Warren Buffett should run the US Treasury - and the investor could do the job in under 1 hour per week
▼ + stars: | 2023-04-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk would prefer Warren Buffett to be US Treasury secretary instead of Janet Yellen. The Tesla chief said the Berkshire Hathaway boss could do the job in less than 1 hour per week. "Probably Buffett," Musk tweeted. "Any highly successful investor with a long track record would do a good job – the job is essentially fund management at scale," he added. As for Buffett, he's questioned Musk's Twitter habit in the past, and jokingly challenged the auto executive to take on Berkshire in the candy business.

☆ Israel's Netanyahu, dissenting defence minister to visit troops together
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, April 3 (Reuters) - Prime Minister Benjamin Netanyahu will visit troops with Defence Minister Yoav Gallant, an aide said on Monday, as Israel's public broadcaster reported he had decided to delay the dismissal of the minister announced more than a week ago. Netanyahu announced he was firing Gallant on March 26, following his defence chief's public call to halt a highly contested judicial overhaul. With tensions running high during the Muslim holy month of Ramadan, which this year coincides with the Jewish Passover, public broadcaster Kan reported on Monday that Netanyahu had decided to hold off on firing the minister. "Due to the evolving security situation, Netanyahu will attend to the matter of the defence minister down the line," the broadcaster cited a political source as saying. Two Israeli officials who requested anonymity said Gallant and Netanyahu would on Monday evening visit two military bases to toast troops for the Passover holiday.

☆ Russia can't match the US military's hardware, but it has other ways to keep it from working properly
▼ + stars: | 2023-03-20 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +6 min

But Russian information operations could still affect US forces, a US government watchdog says. Once perceived as a conventional near-peer threat, the Russian military now appears to be more of a paper tiger. While Russia can't match the US military's hardware, it has other ways to keep it from working. Near-peer adversaries, such as China and Russia, know that and have sought ways to counter their more powerful adversary. Doing so could mean that Chinese or Russian intelligence services could not only to influence individual service members but also the performance of specific weapons.

☆ Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
▼ + stars: | 2023-03-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +5 min

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderNEW YORK, March 14 (Reuters) - Extreme volatility is rattling U.S. Treasury markets in the wake of Silicon Valley Bank's (SIVB.O) collapse and investors fear a prolonged bout of gyrations before calm returns to bond markets. The Fed chief's hawkish message helped push yields, which move inversely to prices, to their highest levels in years. As investors piled back into Treasuries, yields plummeted. Over the longer term, sustained rate volatility is unlikely to be good for stocks, said Purves, of Tallbacken Capital.

☆ New York Fed model finds inflation pressures more persistent than thought
▼ + stars: | 2023-03-09 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

The new findings out Thursday from the New York Fed add a fresh complication to the monetary policy outlook and could help reinforce the view that aggressive Fed rate hikes have yet to make the needed dent in price pressures. The pickup in inflation in the model has been driven by core goods and core services stripped of housing components. Reuters GraphicsThe New York Fed research shows it's even more problematic than previously estimated. The New York Fed released its report after Powell on Wednesday completed two days of testimony before Congress. In his appearance, Powell acknowledged that inflation pressures had been proving more persistent than he expected in an economy whose overall performance was also stronger than policy makers had thought.

☆ Morning Bid: The perils of not keeping up with Powell
▼ + stars: | 2023-03-08 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

That's been Asia's market reaction to the Fed chief's warning on faster hikes and higher rates. Fed fund futures took Powell at his hawkish word and now imply a 70% chance the Fed will hike by 50bp this month, up from just 9% a month ago. JPMorgan noted Powell's focus on the "totality" of data places a lot of weight on Friday's payrolls figures and next week's CPI. Essentially, the cost of not keeping up with the Fed can be a much weaker currency and a greater risk of imported inflation. ADP employment and trade figures- Bank of Canada announcement at 1500 GMTEditing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

"If corporate profits were to decline from the extremely high levels that we saw recently, would it be possible to sustain" growth in workers' benefits "even as we get inflation down to the target of 2%?" Democratic Senator Chris Van Hollen asked Powell during the Fed chief's semi-annual testimony before the U.S. Senate Banking Committee. "Wages affect prices and prices affect wages," Powell said, associating current earnings growth to the current ultra-low unemployment rate of 3.4%, and suggesting the labor market may need to weaken at least somewhat for inflation to fall. SHORTAGESUltimately, Powell said he felt profits would likely moderate on their own as the U.S. economy moves beyond the pandemic. "What we're seeing in the economy is pretty much about shortages ... supply chain blockages," Powell said.

☆ Netanyahu rebuffs IAEA chief's remarks against possible attack on Iran
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, March 5 (Reuters) - Israel rebuffed as "unworthy" on Sunday comments by the U.N. nuclear watchdog chief that any Israeli or U.S. attack on Iran's nuclear facilities would be illegal. He was responding to a reporter's question about threats by Israel and the United States to attack Iran's nuclear facilities if they deem diplomacy meant to deny it the bomb to be at a dead end. "Rafael Grossi is a worthy person who made an unworthy remark," Israeli Prime Minister Benjamin Netanyahu told his cabinet in televised remarks on Sunday. Is it permissible for Iran, which openly calls for our destruction, to organise the tools of slaughter for our destruction? The IAEA said on Saturday Grossi had received sweeping assurances from Iran that it will assist a long-stalled investigation into uranium particles found at undeclared sites and re-install removed monitoring equipment.

☆ Some Nike recruiters say they were laid off in the wake of the tech chief's departure
▼ + stars: | 2023-02-28 | by ( Matthew Kish | ) www.businessinsider.com time to read: +2 min

Four Nike recruiters said Tuesday in LinkedIn posts that they were laid off. The posts come one week after Nike internally announced the sudden resignation of Ratnakar Lavu, the company's top technology executive. More than 100,000 tech workers already lost jobs this year, more than half of last year's total. The former Nike workers who posted about being laid off either declined comment or did not immediately respond to a LinkedIn message. It's unclear how many jobs Nike has eliminated recently.

☆ Exclusive: British authorities surveilled FBI spy chief Charles McGonigal's secret 2018 meeting with a Russian contact
▼ + stars: | 2023-02-16 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +5 min

An FBI spy chief's secret meeting with a Russian contact was detected by UK officials. McGonigal should have realized that the London meeting would be noticed, one source said. During his years in New York, McGonigal oversaw 150 FBI agents tasked with shadowing foreign operatives and turning them into spies for the US. He would have had intimate knowledge of surveillance penetration in world capitals, which makes the London meeting all the more mystifying. McGonigal had investigated Russian operatives earlier in his career, but it is unclear whether he was involved with the FBI's Deripaska recruitment effort.

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