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☆ Two big Silicon Valley banks failed when the easy money ran out - and that could be just the start.
▼ + stars: | 2023-03-13 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +7 min

Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest. "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," policymakers added. The fall of SVB and Signature bank means the Fed's aggressive interest-rate hiking regime has now taken sizable casualties. A $15 billion venture capital firm had warned its startups of Silicon Valley Bank's red flags months ago. Greenoaks Capital Partners told clients in an email back in November that SVB, as well as other firms, could see problems in a high-interest-rate environment, Bloomberg reported.

☆ NBA roundup: Malik Beasley leads revamped Lakers to win
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +8 min

Anthony Davis scored 12 points with 12 rebounds for Los Angeles. Klay Thompson scored 22 points and Ty Jerome added 20 for the Warriors, who were without Stephen Curry (leg) and Andrew Wiggins (personal). Evan Mobley had 31 points and nine rebounds, Donovan Mitchell and Darius Garland scored 22 points each, and Jarrett Allen had 14 points and 13 rebounds for the Cavaliers. Tatum had 31 points, 12 rebounds and seven assists. Anunoby returned from a wrist injury to score 12 points, but Toronto was without Fred VanVleet (personal).

☆ M&Ms Super Bowl commercial: How ads have become weeks-long campaigns
▼ + stars: | 2023-02-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +7 min

The Super Bowl commercial, billed as the conclusion to weeks-long drama surrounding the status of the “spokescandies,” left some viewers scratching their heads. But if you weren’t paying attention, the final commercial might be a head scratcher -— one risk a brand takes when it uses a weeks-long campaign ahead of its Super Bowl commercial. In a change for the decades-old Super Bowl ad wars, it’s actually become a commonplace strategy to use social media to tease, preview and create buzz ahead of their Super Bowl commercials. Companies spend millions just for a Super Bowl ad slot — reportedly over $7 million for some 30-second spots — before investing into the commercials themselves. Dance contests and bettingDespite the high cost of a Super Bowl commercial, companies are eager to nab a spot.

☆ U.S. unemployment system still plagued by delays 3 years after pandemic-era downturn
▼ + stars: | 2023-01-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +9 min

Patrick T. Fallon | Afp | Getty ImagesThese days the U.S. unemployment system is somewhat of an anomaly. At the pandemic-era nadir, just 52% got a "timely" first payment of unemployment insurance, for example. Unemployment claims spiked as businesses closed amid stay-at-home orders to contain the virus' spread. States get funding based on their administrative workload, like the volume of claims states are paying. That's especially true for one CARES Act program, Pandemic Unemployment Assistance.

Jan 27 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. There are no major Asian economic indicators or corporate earnings releases on Friday to really drive market direction, and volumes will be relatively light due to China still being closed for Lunar New Year. Hong Kong's Hang Seng is open again after the Lunar New Year holiday, and its 2.37% surge to a 10-month high on Thursday was the regional standout. It's worth noting that this measure of annual inflation was negative for most of 2021 and only 0.2% a year ago. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Why Paid Sabbaticals Are Good for Business: Better Employees, Less Burnout
▼ + stars: | 2023-01-09 | by ( Crissie Hoskins | ) www.businessinsider.com time to read: +10 min

And through it all, I didn't get fired, there was no formal reprimand, and I got paid the entire time. Sabbaticals provide a proactive hedge against employee burnout, an antidote for attrition, and a protection from career wanderlust. Some employers argue that offering paid time off won't help keep employees around, but my sabbatical made me more passionate about my work — and my workplace — than ever. I love my job and want to be sure my team and clients get the best of me. Sabbaticals are good for businessMy sabbatical wasn't an anomaly — research shows that sabbaticals help employees fight burnout and improve their well-being.

☆ Review: The Polestar 2 is a $65,000 electric sedan from Volvo with all the allure of an early Tesla
▼ + stars: | 2023-01-04 | by ( Alanis King | ) www.businessinsider.com time to read: +8 min

The Polestar 2's gold brake calipers. Alanis KingThe 2 is an electric sedan from Polestar, a new EV brand by Volvo. Alanis KingThe 2's interior is simple, airy, and spacious. The Polestar 2's headlight assembly. Alanis KingThe 2 has virtually no wind or road noise on the highway, the brakes are strong, and there's barely any body roll.

☆ Nigeria dance carnival helps residents reclaim the streets
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

Residents of Oworonshoki have seen their share of violence, with robberies and tit-for-tat gang murders once commonplace in this part of Nigeria's vast, boisterous commercial capital. Days of dance workshops culminated with an all-day carnival aiming to reclaim the streets and reduce tensions between rival gangs. "I've been able to achieve a big goal in my life, and Slum Party has really changed a whole lot for me," he said. Community leader Oriyomi Akeem said Slum Party has helped bring peace to a neighbourhood once known as a no-go area overrun by gangs. Ozegbe-Obiajulu hopes the carnival's success could be replicated by people in other troubled areas of Nigeria and beyond.

☆ The Tom Brady of Other Jobs
▼ + stars: | 2022-12-24 | by ( Francesca Paris | ) www.nytimes.com time to read: +17 min

Meet them, and decide for yourself:The Tom Brady of Paramedics Jesse Izaguirre, 70Gardena, Calif.Jesse Izaguirre loves working with younger paramedics. Hopefully never.”The Tom Brady of Bakers Helen Fletcher, 83Clayton, Mo. Chalk it up to a great big fib.”The Tom Brady of Artists Lilian Thomas Burwell, 95Highland Beach, Md. “I should’ve signed them.”The Tom Brady of Biologists Maria Elena Zavala, 72Los AngelesProfessional longevity runs in Maria Elena Zavala’s family. It didn’t vanish when they crossed the border.”The Tom Brady of Loggers Earl Pollock, 82Hamburg, Ark.

☆ I drove Uber during the holidays to get my son the gift he wanted. I didn't think I'd get enough tips, but then a Christmas miracle happened.
▼ + stars: | 2022-12-23 | by ( Jenny Powers | ) www.businessinsider.com time to read: +6 min

Uber driver Bunny Rivera started working for the rideshare company after she became a mom. I began delivering food for Uber Eats during the fall of 2019. Uber Eats provided me with the flexibility I needed to do just that. When they saw my sign, the guys started asking me about my plans for Christmas. Unfortunately, the Uber app has a $100 limit on tips.

☆ 11 ancient sites that are mysteriously aligned with the sun on the winter solstice, in photos.
▼ + stars: | 2022-12-17 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +12 min

Archaeologists have found many ancient sites that line up with the winter solstice sun. Here are 11 sites that line up with the winter solstice, and what experts think about them. Newgrange, County Meath, IrelandPeople celebrating the sunrise at Newgrange on the morning of the winter solstice in 2018. ShutterstockOne of the most famous examples of ancient architecture lining up with the winter solstice is in Machu Picchu, Peru. "From the winter solstice the days are longer, which was a metaphor of the rebirth of the deceased," he said.

☆ U.S. import prices drop further; inflation pressures easing
▼ + stars: | 2022-12-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Economists polled by Reuters had forecast import prices, which exclude tariffs, would fall 0.5%. In the 12 months through November, import prices increased 2.7%, the smallest gain since January 2021, after rising 4.1% in October. Excluding fuel and food, import prices fell 0.6%. Core import prices are being depressed by the dollar's strength against the currencies of the United States' main trade partners. The report from the Labor Department also showed export prices fell 0.3% in November after declining 0.4% in October.

☆ Amgen’s $28 bln deal is a reasonable gamble
▼ + stars: | 2022-12-12 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 12 (Reuters Breakingviews) - Biotechnology deals are always a gamble, and, on the face of it, Amgen’s (AMGN.O) $28 billion purchase of Horizon Therapeutics (HZNP.O) looks both risky and pricey. Investors in the $150 billion drug buyer should give it the benefit of the doubt. Amgen is largely buying Horizon for a drug named Tepezza, which helps a thyroid disease that affects eyesight. Sales in Alexion’s drug this year should be $7 billion, a 16% jump from where they were when AstraZeneca bought it. If Amgen similarly helps Horizon, its deal will look like a reasonable wager.

☆ Colorado governor visits shooting site as community heals
▼ + stars: | 2022-11-30 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

COLORADO SPRINGS, Colo. — In a crowded brewery, Colorado Gov. Fierro squeezed Wyatt Kent, a drag queen whose 23rd birthday was being celebrated the night of the shooting, and chatted with his family. Club Q’s community had been a steadfast support network, said Kent, one which has continued to undergird the community’s healing since the tragedy. “If I pour myself out into others they will pour themselves out back into me,” said Kent, “and that’s what this community has always done.”The broader Colorado Springs community is pouring out support for the survivors, too. “Club Q will be back and the community will be back,” he said.

In Asia, Japan's manufacturing activity is shrinking at its fastest pace in two years, flash estimates showed. Investors will be paying close attention to the PMI reports for most other Asian countries - including economic heavyweights China, South Korea and India - due out on Dec. 1. Like stocks, regional FX markets are enjoying a period of relative calm as weaker U.S. inflation readings have weighed on the dollar. Investors will be hoping for more consolidation and calm on Friday, leaving the potential PMI fireworks for next week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Musk needs a third of America to pay for Twitter
▼ + stars: | 2022-11-15 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Squeezed by sky-high interest payments, even steep cost-cuts leave a big hole to fill if Twitter doesn't grow into its debt. Advertising revenue across the industry has fallen since Twitter last reported public results. A Twitter Blue subscription isn’t like Spotify Technology (SPOT.N) or Netflix (NFLX.O), perhaps. Those platforms bear the cost of licensing content whereas Musk is trying to get Twitter users to pay for the privilege of providing content. If the cost of providing each extra subscription is zero, Musk needs only about a tenth as many subscribers to sign up.

☆ Inflation is getting less hot - and the best-case scenario for stocks just played out.
▼ + stars: | 2022-11-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

The stock market just had its best day of the year. We can chalk that up to the Thursday morning inflation data that showed prices cooled faster than expected in October. Specialist trader Chris Malloy (C) gives a price to traders on the floor of the New York Stock Exchange, October 18, 2013. As far as a single day is concerned, yesterday looked like a perfect storm for the stock market. Does the latest inflation report change your outlook on the economy or predictions for what the Fed will do next?

☆ U.S. Q3 GDP overshot IMF forecasts, but growth volatile -official
▼ + stars: | 2022-11-02 | by ( David Lawder | ) www.reuters.com time to read: +3 min

The IMF in its Oct. 11 World Economic Outlook had cut its U.S. growth forecast by 0.7 percentage point, based on the weak Q2 output earlier in the year. Along with other factors, such as rising food and energy costs prompted by Russia's war in Ukraine and tighter monetary policy, the U.S. reduction offset upside surprises in Europe, leaving the IMF's 2022 global growth forecast unchanged at 3.2%. Going forward into next year, the U.S. is slowing and that's never good for the global economy," Chalk said. "In addition to slowing, it's shifting away from goods, and that's sort of exacerbating that effect on the global economy." The IMF has forecast that U.S. growth will decline further to 1.0% in 2023, with global growth falling to 2.7% next year.

☆ IMF backs Latam progressive taxes, fiscal discipline
▼ + stars: | 2022-11-02 | by ( Rodrigo Campos | ) www.reuters.com time to read: +2 min

For most of the region "the story there is actually they have pretty good fiscal and monetary frameworks," said Nigel Chalk, acting director of the Western Hemisphere Department at the IMF. "So it's more a question of letting the frameworks work and do their job as they were designed." The fund said last month tightening global financial conditions and high inflation clouded the outlook for Latam and Caribbean economies. Carbon taxes, which have been discussed across the region, are also on the IMF menu for increasing revenues. Reuters GraphicsReporting by Rodrigo Campos and David Lawder; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

HONG KONG, Oct 27 (Reuters Breakingviews) - Tesla’s (TSLA.O) China price cut is a double-edged sword. China is increasingly important for Tesla and its investors, accounting for around a quarter of the electric-car maker’s top line in the first nine months of 2022. If sales reach nearly $120 billion next year as forecast by Refinitiv, a 9% cut would equate to around $2.5 billion in revenue. Chinese drivers, though, are starting to snub international badges in favour of home-grown alternatives, especially for electric and premium models. The company posted the price cuts on its China website on Oct. 24.

☆ Insider asked 38 Republicans whether they're concerned about growing anti-Semitic sentiments in their party. Their responses included silence, deflection, and rehashing old statements.
▼ + stars: | 2022-10-22 | by ( Warren Rojas | ) www.businessinsider.com time to read: +12 min

Insider reached out to House Republican leaders, GOP senators auditioning for the 2024 presidential race, the Republican National Committee, retired GOP lawmakers, seasoned Republican strategists and former Donald Trump administration officials about this disturbing phenomenon. The non-respondents included RNC chair Ronna McDaniel, former Vice President Mike Pence, National Republican Senatorial Committee chair Rick Scott, House Republican Conference chair Elise Stefanik, Florida Gov. Meghan McCain, the daughter of late Arizona Republican Sen. John McCain, lashed out at West, Trump and House Republican "idiots" cheering on their reprehensible behavior. "You can say that his particular words in this particular case are not antisemitic," Rosen said Tuesday during Commentary's daily podcast. Nor have they convinced House Judiciary Committee ranking member Jim Jordan to quit hailing West and Trump as personal heroes.

☆ Aussies put net-zero nationalisation on the map
▼ + stars: | 2022-10-21 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Oct 21 (Reuters Breakingviews) - Nationalisation and capitalism are supposed to be like chalk and cheese. He also accused privately run energy generators of reaping huge profits “at our collective expense” without helping to achieve net-zero goals. If done right — and the details will be key — other governments facing similar net-zero challenges can take note. His plan involves restoring the State Electricity Commission to build new renewable energy projects. The SEC has not been involved in building energy projects since 1993 when the state’s energy assets were privatised.

But there are fans of another court-based sport that are greeting the news with much less enthusiasm: tennis players. In apartment complexes and retirement centers across the country, tennis courts are being scrapped in favor of pickleball courts. Its courts are similar to tennis courts, just smaller, so many players repurpose tennis courts with chalk or paint to lay out the pickleball dimensions. Yet dozens of new dedicated pickleball courts are being built all over America, which will soon help ease the problem of overcrowding. So for any tennis players out there worried that pickleball will demolish your own game’s success, you can rest easy.

It also encapsulates macro hedge funds' trading strategy today - while most investors got smoked in the third quarter as stocks, bonds and commodities slumped, macro funds raked it in thanks to the surging U.S. dollar. There is little indication the wave is about to crash any time soon, and although hedge funds have reduced their exposure in recent weeks, they remain comfortably long. LONG, LONG, LONGThe dollar index, a measure of the greenback's value against a basket of six major currencies, rose 7.1% in the third quarter, its best performance since early 2015. But CFTC hedge funds have held a net long dollar position every week since August last year, and a $10 billion bet is still a pretty resounding endorsement of the U.S. currency over its major rivals. With numbers like these, it looks like funds may be buying dollars and wearing diamonds for a good while yet.

☆ What is rainbow fentanyl? Colorful pills drive new warnings
▼ + stars: | 2022-09-25 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +10 min

"Colored fentanyl pills have been around for a few years. At the time, the agency said that it and its law enforcement partners seized the brightly colored fentanyl and fentanyl pills across 18 states. While he and his colleagues are aware of rainbow fentanyl warnings, he hasn't heard any patients or parents mention it. When it comes to rainbow fentanyl, "the fentanyl itself is going to be the same issue as the counterfeit pharmaceutical fentanyl. The only difference between rainbow fentanyl and the fentanyl products of the past appears to be the coloring.

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