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☆ A budget Canadian airline had 4 of its planes repossessed. Its CEO is blaming a conspiracy.
▼ + stars: | 2023-05-25 | by ( Bianca Giacobone | Taylor Rains | ) www.businessinsider.com time to read: +7 min

In March, lessor Airborne confiscated four of Flair Airlines' planes because of late payments. A low-cost Canadian upstart airline had four of its planes repossessed by New York-based aircraft lessor Airborne Capital on March 11, forcing the carrier to cancel multiple flights and leaving a trail of disgruntled passengers behind. Flair Airlines CEO Stephen Jones blamed "behind the scenes" scheming between the airline's competitors and Airborne Capital for the repossession of four of Flair's Boeing 737 planes. It's not the first time Flair has clashed with other Canadian airlines. US investment firm 777 Partners owns a 25% stake in Flair Airlines, which was cause for concern for the CTA.

Persons: Stephen Jones, Flair, We've, Jones, — Flair, It's, —, Tim Donovan, Donovan, Prince Edward Island Organizations: Airborne, Flair Airlines, Flair, Morning, Capital, Airborne Capital, Boeing, The Canadian Press, Air Canada, BOC Aviation, Financial, Ontario Superior Court of Justice, National Airlines Council of Canada, Canadian Transportation Agency, Partners, CTA, National Airlines Council, Easter, Airways Magazine, Bonza Airlines, Dominican Republic Locations: New York, North America, Canada, Titusville , New Brunswick, Toronto, Saint John , New Brunswick, Charlottetown, Ottawa, Montreal, Florida, Dominican

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband, Jack Welch, slashed 112,000 jobs at General Electric.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The NYU Stern professor Suzy Welch told CNBC that "funemployment" showed a shift in how Gen Z work. Suzy Welch told CNBC that Gen Z, those born from the mid-1990s to early 2010s, wasn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z wasn't promoting joblessness by choice, their perspective on the issue had shifted "far away" from previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with toxic work culture.

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband Jack Welch slashed 112,000 jobs at GE.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

NYU Stern professor Suzy Welch told CNBC that "funemployment" shows a shift in how Gen Z views work. Welch said in an interview with CNBC that Gen Z — those born from mid-1990s to early 2010s — isn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z isn't promoting joblessness by choice, their perspective on the issue has shifted "far away" from that of previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with a toxic work culture.

☆ NYU professor Suzy Welch on the Gen Z 'funemployment' fad
▼ + stars: | 2023-05-22 | 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 EmailNYU professor Suzy Welch on the Gen Z 'funemployment' fadSuzy Welch, NYU Stern School of Business professor and Brunswick Group senior advisor, joins 'Squawk Box' to discuss the new 'funemployment' trend amongst Gen Z workers, what it means for the labor market, and more.

☆ Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
▼ + stars: | 2023-05-11 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +19 min

The 73 EEOC claims brought by individual former employees against the company sparked the larger pattern or practice investigation into age discrimination. Only a fraction of EEOC age discrimination complaints — 2.8% in fiscal 2021 — resulted in reasonable cause determinations, EEOC data show. It went from running six bowling alleys to 272 overnight after it acquired AMF, which was then the largest bowling company in the world and was in bankruptcy. The following year, Shannon's company acquired the Brunswick Corporation, the second-largest bowling company in the world, and changed his company's name to Bowlero. Dowe said negotiations fell apart when Bowlero countered the EEOC's $60 million settlement proposal with a proposal of $500,000.

☆ Brunswick Corp. CEO David Foulkes goes one-on-one with Jim Cramer
▼ + stars: | 2023-05-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrunswick Corp. CEO David Foulkes goes one-on-one with Jim CramerBrunswick Corp. CEO David Foulkes joins 'Mad Money' host Jim Cramer to talk sales numbers, luxury item demand, and more.

☆ Walmart keeps grocery prices steady amid inflation, antitrust claims
▼ + stars: | 2023-05-05 | by ( Siddharth Cavale | ) www.reuters.com time to read: +6 min

During the period, while U.S. inflation averaged 7.5% Walmart kept prices steady, the Dataweave analysis shows. Reuters Graphics Reuters GraphicsThis was during a time when world food prices hit record highs and U.S. food-at-home prices rose in the double digits. Food-at-home prices, or prices of food bought at grocery stores and supermarkets, are expected to rise a further 6.6% this year, according to the U.S. Department of Agriculture. The data set, which included batteries in the basket of goods, showed that Walmart sold Energizer batteries at a significant discount to rivals. Similarly, at least two different types of Energizer coin batteries sold at Walmart were found to be between 30% and 35% cheaper than the next lowest priced rival.

☆ I'm a bear when it's called for, like in 2007. But this stock market belongs to the bulls
▼ + stars: | 2023-04-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I have not been bombarded with as many warnings about how we are about to embark upon a wave of failures of all sorts — shadow banks, regional banks, commercial real estate lenders, real estate investment trusts — at any time since 2007. Let's take commercial real estate. I mention SL Green because it may be the most challenged of the REITs, real estate investment trusts, other than Vornado Realty Trust (VNO), a historically fine New York real estate concern, which just delayed its dividend. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

CNN —The World Health Organization warned Tuesday of a “huge biological risk” after Sudanese fighters seized the National Public Health Laboratory in the capital Khartoum, as foreign nations raced to mount rapid evacuation efforts from the country and violence punctured a fragile US-brokered ceasefire. Seized laboratory a potential ‘germ bomb’A high-ranking medical source told CNN that the lab, which contains samples of diseases and other biological material, had been taken over by RSF forces. Navy PhotoAs many as 500 people fleeing the fighting have begun boarding the French frigate “Lorraine” in Port-Sudan on Tuesday afternoon, a spokesman for the French Chief of Defense Staff told CNN. “Shops are running out of food completely” and several food factories in the state had been looted, the witness, who asked to remain anonymous for security reasons, told CNN. On Monday, the Sudanese military claimed that the RSF killed an Egyptian diplomat, while the RSF claimed the army targeted civilians in an airstrike on a Khartoum neighborhood.

Coronations at Westminster Abbey go back almost one thousand years. Like Charles III, William had his coronation at Westminster Abbey. Gross says coronation blunders do not become truly significant for monarchs until their reign starts to go wrong. A “beautiful and symbolic” silver cross containing a piece of the so-called True Cross will lead King Charles’ coronation procession in London next month. Meanwhile, gun salutes will sound from military bases and ships at sea to mark the moment Charles is crowned King.

☆ U.S. bankruptcy judge halts 40,000 Johnson & Johnson talc and cancer lawsuits
▼ + stars: | 2023-04-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. A federal bankruptcy judge on Thursday halted roughly 40,000 lawsuits that allege Johnson & Johnson 's baby powder and other talc products caused cancer. Amid the ongoing legal fights, J&J has continued to deny the allegations that its talc products caused cancer. The suits allege J&J's talc products were contaminated with the carcinogen asbestos, which caused ovarian cancer in thousands of individuals. Some lawsuits link several deaths to J&J's talc products.

☆ Johnson & Johnson Posts Higher Quarterly Sales, Raises 2023 Outlook
▼ + stars: | 2023-04-18 | by ( Peter Loftus | Will Feuer | ) www.wsj.com time to read: 1 min

Johnson & Johnson is spinning off its consumer-health business into a company that will house well-known brands such as Tylenol. Johnson & Johnson raised its full-year sales and earnings outlook after revenue rose 5.6% in the first quarter, lifted by demand for everything from Tylenol to the company’s pharmaceutical products and contact lenses. The New Brunswick, N.J., healthcare-products company also said Tuesday that first-quarter earnings were largely wiped out by a $6.9 billion charge tied to J&J’s proposal to resolve tens of thousands of lawsuits alleging injuries caused by its talc-containing powders including Johnson’s Baby Powder.

☆ Johnson & Johnson (JNJ) earnings Q1 2023
▼ + stars: | 2023-04-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Johnson & Johnson shares fell Tuesday after the company reported adjusted earnings and revenue that topped Wall Street's expectations, but lowered its sales guidance for its pharmaceutical business. J&J is now forecasting 2023 sales of $97.9 billion to $98.9 billion, about $1 billion higher than the guidance provided in January. Lawsuits allege the company's talc products were contaminated with the carcinogen asbestos, which caused ovarian cancer in thousands of individuals. Some suits link several deaths to J&J's talc products. Read the full J&J earnings report.

☆ Fire at Georgia Plastics Plant Prompts Evacuation Order
▼ + stars: | 2023-04-15 | by ( Eduardo Medina | ) www.nytimes.com time to read: 1 min

A fire at a plastic resin plant in Brunswick, Ga., on Saturday prompted officials to issue an evacuation order for people within half of a mile of the facility, the authorities said, as billows of dark smoke rose and spread through the city. The Brunswick Fire Department and Glynn County Fire Rescue responded to the Pinova plant around 7 a.m., the authorities said. Firefighters contained the fire within hours but around 3 p.m. it had reignited, the Glynn County Board of Commissioners said on Facebook. The board issued a shelter-in-place order for those living within half of a mile of the plant and an evacuation order was issued about an hour later. There were no injuries reported as of Saturday afternoon, the board said.

☆ A meteorite crashed in Maine. A museum there is offering a $25,000 prize for whoever finds it.
▼ + stars: | 2023-04-12 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

The Maine Mineral and Gem Museum wants a piece of the rare meteorite for its collection. The unusually bright fireball could be seen in broad daylight around noon Saturday, said Darryl Pitt, chair of the meteorite division at the Maine Mineral and Gem Museum in Bethel. It's the first time radar spotted a meteorite fall in Maine, the space agency said. The Maine Mineral and Gem Museum wants to add to its collection, which includes moon and Mars rocks, Pitt said, so the first meteorite hunters to deliver a 1-kilogram (2.2-pound) specimen will claim the $25,000 prize. Pitt said the museum is also looking to purchase any other specimens found by meteorite hunters.

NEW YORK, April 11 (Reuters) - Private equity firm KKR & Co Inc (KKR.N) has agreed to buy a significant stake in FGS Global in a deal that values the financial communications group at about $1.4 billion. As part of the deal, KKR will buy up a 30% stake from senior employees at FGS Global and its largest investors, including London-based advertising giant WPP Plc (WPP.L). WPP, which was founded by Martin Sorrell, will retain a majority stake in FGS Global. Existing investor Golden Gate Capital is selling its entire stake to KKR, which is investing in FGS Global through its $8-billion European Fund VI. FGS Global currently employs more than 1,200 people across 27 offices globally.

☆ 130 Regal, Eastgate, and other movie theaters could close in the US — see the list of those already shuttering
▼ + stars: | 2023-04-11 | by ( Travis Clark | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Cineworld has sought to exit its leases for 130 theaters in the US. A bankruptcy court in Texas has already approved its plan to walk away from 47 of those locations. Cineworld filed for Chapter 11 bankruptcy in September. So far, the Texas bankruptcy court overseeing the proceedings has approved the company's plan to exit 47 leases, according to court filings. The North American box office hit $7.4 billion in 2022, according to Comscore, down from over $11 billion in 2019 and 2018.

"Police believe one infant from the Romanian family has not been located and we'll continue searching. All are believed to have been attempting illegal entry into the U.S. from Canada," O'Brien added. Both the deceased and the missing children "were associated with the Romanian family" and had Canadian passports, which were found, O'Brien said. On Wednesday night, when the families likely sought to cross the river, the weather was poor. Reporting by Christinne Muschi in Akwesasne and Steve Scherer in Ottawa; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Police recovered six bodies on Thursday and believe the tragedy may have occurred on Wednesday night. The Akwesasne reserve straddles both sides of the St. Lawrence River, with land in Ontario and Quebec on the Canadian side, and New York. To fight smuggling of people and goods, local police monitor the river full-time with funds from Quebec. On Wednesday night, when the families likely sought to cross the river, the weather was poor. Reporting by Christinne Muschi in Akwesasne and Steve Scherer in Ottawa; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ J&J backs out of RSV vaccine race with rivals Pfizer and GSK
▼ + stars: | 2023-03-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Johnson & Johnson on Wednesday said it's ducking out of the RSV vaccine race, weeks after competitors Pfizer and GSK inched closer to launching the world's first shot against the deadly virus. J&J will stop working on its investigational RSV adult vaccine program and discontinue a pivotal phase three trial testing the shot, the company announced in a press release. Since then, the race to create the world's first RSV vaccine has garnered more attention than ever. A phase two trial on the company's RSV shot found it provided 80% protection against severe RSV infections. Drugmaker Moderna also has its own potential RSV shot, which performed well in clinical trials.

After almost 40,000 asylum seekers entered Canada from the U.S. through irregular border crossings last year, the two countries revised their two-decade-old asylum pact last week to stem the flow of asylum seekers. After moving thousands of asylum seekers from Quebec to Ontario, the federal government relocated some 393 asylum seekers to the Atlantic provinces of New Brunswick, Nova Scotia and Newfoundland as of March 19, according to official data. These transfers over the past several months have been Canada's first relocations of asylum seekers, the government said. Some of the asylum seekers and advocates told Reuters there is inadequate access to legal counsel, potentially jeopardizing refugee claims. Chamagne said her three staff lawyers are trying to help 164 asylum seekers transferred to Halifax, Nova Scotia.

☆ Brunswick President Brenna Preisser
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrunswick President Brenna PreisserThis Women's Heritage Month, Brunswick President Brenna Preisser tells CNBC diversity only matters when women bring their full selves to work.

☆ Nearly 60% of institutional investors said they have used Reddit for investment decisions, survey shows
▼ + stars: | 2023-03-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

A Brunswick Group survey found 58% of institutional investors have used Reddit for investment decisions. "Institutional investors look for ways to keep their pulse on the conversation among retail investors." The investment advisory firm surveyed 257 US and European institutional investors – professionals who trade for banks, hedge funds and pensions – and found that 58% have used Reddit. "Institutional investors look for ways to keep their pulse on the conversation among retail investors. What's more, institutional investors are likely to be retail investors in their personal lives and may find their retail research habits helpful in their professional roles," the report said.

☆ Premarket stocks: The return of the Reddit investor
▼ + stars: | 2023-03-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

What’s happening: Retail investors are pouring a record $1.5 billion per day into the stock market, according to data from Vanda Research. Brunswick has conducted its annual survey on the digital habits of institutional investors for over a decade. This year, it polled 257 institutional investors across North America, the United Kingdom, and the European Union. Retail investors amass funds, and power: Retail investors now account for half of all wealth globally, according to a recent report by Bain & Company. Fed officials have expressed concern that a tight labor market could keep upward pressure on wages and, in turn, inflation.

"Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided," Bailey added. Bailey said that the economy had developed largely as expected since the BoE raised rates on Feb. 2. "Inflation has been slightly weaker, and activity and wages slightly stronger, though I would emphasise 'slightly' in both cases," he said. Bailey also highlighted how the central bank shifted its language in February, when it said further tightening would be required if there was evidence of more persistent inflation pressures. But two MPC members - Swati Dhingra and Silvana Tenreyro - voted in February to pause the rate hikes.

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