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MUMBAI/SINGAPORE, June 1 (Reuters) - KKR & Co (KKR.N) is moving a managing director from India to Singapore to lead the firm's Southeast Asia private equity business, two familiar with the matter sources told Reuters, bolstering its personnel in the region. Kumar will work with Ashish Shastry, a partner who heads Southeast Asia and co-heads the firm's Asia Pacific Private Equity business. The move also comes as KKR strengthens its presence in India and Southeast Asia. It raised $15 billion for its fourth Asia-Pacific focused private equity fund in 2021, one of the region's largest for the asset class. KKR has been investing in Southeast Asia since 2005, and opened its Singapore office in 2012.

Persons: Prashant Kumar, Kumar, Ashish Shastry, Vini, Gaurav Trehan, Trehan's, Akshay Tanna, Sriram, Kane Wu, Mark Potter Organizations: KKR, Co, Asia Pacific Private Equity, The Wharton School, Indian Institute of Technology, JB Chemicals, TPG Inc, TPG, Associations, Reuters, Healthcare, Thomson Locations: MUMBAI, SINGAPORE, India, Singapore, Asia, Mumbai, Southeast Asia, Pacific, Philippines

☆ 'It's not a bubble yet': Wharton's Jeremy Siegel predicts Big Tech boom fueled by A.I.
▼ + stars: | 2023-05-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Wharton professor and renowned economist Jeremy Siegel is bullish on a Big Tech boom fueled by artificial intelligence despite concerns of a bubble. He noted that he has been getting questions around whether it would lead to a repeat of the dot-com bubble in the late 1990s. Economist David Rosenberg, known for his contrarian views, had predicted that the current AI boom could collapse like late 1990s dot-com stocks. The dotcom bubble burst when capital dried up after a massive adoption of the internet and a proliferation of available venture capital into internet-based companies, especially startups that had no track record of success. "First, there was excitement about AI and Nvidia ratified that excitement with blowout earnings.

☆ How rich families use trusts that last as long as 1,000 years to save on taxes and benefit future heirs
▼ + stars: | 2023-05-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Dynasty trusts can last up to 1,000 years – about 40 generations – in Florida and other states. So-called dynasty trusts allow affluent taxpayers to provide for as many as forty generations and only be subject to tax once. Dynasty trusts have grown in popularity as the generation-skipping transfer tax exemption has skyrocketed, according to Sandy Christopher, partner at Withers Bergman. They are usually drawn to dynasty trusts to keep businesses within their families and protect assets from creditors. Dynasty trust assets are also shielded in the event of a divorce.

☆ How do you solve a problem like AI? Tax it
▼ + stars: | 2023-05-18 | by ( John Foley | ) www.reuters.com time to read: +6 min

The chances of “generative AI” being put back in its box are very small. Goldman Sachs economists estimate that 18% of work could be automated globally, and that 7% of the U.S. workforce might be substituted by AI. Moreover, while AI will create profit windfalls, many countries don’t tax those as effectively as they ought to. But a dollar of saved costs for a company creates only 21 cents in corporate income tax revenue. Capital gains are still taxed below the level of income in most countries.

☆ Gen Z Fast Fashion, Live Shopping, Clothes Addiction Destroying Planet
▼ + stars: | 2023-05-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

The Gen Z paradoxGen Z's economic power is growing faster than other generations, according to Bank of America. In the US, fashion is the preferred category for entertainment spending among Gen Z, outranking dining out, video games, and music. A 2021 McKinsey survey found that 42% of American Gen Zers said they didn't even know what makes clothes sustainable. In addition to pushing people to buy more clothes, the buy-now, think-later model of live shopping also encourages people to buy clothes that are worse for the planet. To solve that problem, she founded Viviene New York in 2022, a Gen Z-led marketing agency that helps sustainable brands connect with Gen Z audiences through social media.

☆ How much you exercise may impact flu and pneumonia risk, study shows
▼ + stars: | 2023-05-16 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

CNN —It’s time to add to your list of reasons to work out: Getting active could help prevent risk of death from the flu and pneumonia, according to new research. Meeting both recommendations for aerobic and muscle-strengthening activity cut the risk associated with flu or pneumonia death nearly in half, but meeting just the aerobic activity target was associated with a 36% lower risk, according to the study. This study might encourage them that physical activity may be another powerful tool for protecting themselves against influenza and pneumonia death,” he said. Even a little bit of exercise showed benefit in protecting against flu and pneumonia death, the study found. Getting 10 to 149 minutes a week of aerobic physical activity was associated with a 21% decreased risk of flu and pneumonia death, the study showed.

☆ Meet Kim Posnett, the powerful Goldman Sachs dealmaker who was just named head of the investment bank's TMT unit
▼ + stars: | 2023-05-03 | by ( Reed Alexander | ) www.businessinsider.com time to read: +10 min

Kim Posnett was just named head of Goldman's all-important TMT investment banking group. Posnett, 43, has long been one of the most senior figures at Goldman's investment bank. Posnett was previously the head of Goldman's investment-banking services unit, which acts as a salesforce for the global IB division. The former co-head of Goldman's TMT franchise will become co-chairman of the unit. The former would result in the IB services group, which functions, in effect, as a sales force.

☆ What Bed Bath & Beyond, Toys ‘R’ Us and RadioShack have in common
▼ + stars: | 2023-04-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

Staples is “a classic ‘category killer,’ like Toys R Us,” Mitt Romney, then Bain & Co.’s managing general partner, said in 1989. Another category killer fell this week, when Bed Bath & Beyond filed for bankruptcy. Once the go-to stop for everything in customers’ homes, Bed Bath & Beyond was brought down by shopping changes, competition and its own missteps. Founded in 1971 as Bed ‘n Bath as a small linen and bath store, the company changed its name to Bed Bath & Beyond in 1987 to reflect its expanded merchandise selection and built larger superstores. It’s somewhat ironic that there is now nostalgia for Bed Bath & Beyond and other once dominant chains that drove mom-and-pops out of business.

☆ America’s Inflation Antihero Gets a Makeover
▼ + stars: | 2023-04-21 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

The years have not been kind to Arthur Burns, who led the Federal Reserve from 1970 to 1978 and is often remembered as perhaps the worst chair ever to head America’s central bank. Chris Hughes thinks he deserves another look. Mr. Hughes, 39, is a newly accepted doctoral student focused on central bank history at the Wharton School of the University of Pennsylvania. Mr. Hughes then bought and for four years served as publisher of The New Republic, the liberal magazine. As a person who knows something about reinvention, Mr. Hughes thinks Mr. Burns should get one, too.

☆ Top tech analyst Mahaney has 2 buys and a short going into first-quarter earnings
▼ + stars: | 2023-04-13 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Evercore ISI is gearing up for first-quarter tech earnings by making short-term, bullish calls and a tactical bearish recommendation. Well-known technology analyst Mark Mahaney said underperformance in first quarter earnings is less likely given the negative revisions already seen across the tech sector in recent quarters. 1-ranked analyst for five years, named two two of his favorite tech names going into first quarter earnings, and one stock to bet against. Wall Street's consensus for Meta's first-quarter revenue is reasonable while the second quarter's is beatable, Mahaney argued. While industry checks were in line with forecasts through the beginning of March, demand appears to have cooled later in the quarter, Mahaney said.

The Federal Reserve has gone too far with its interest rates hikes — creating a difficult upcoming three-to-six months for stocks, Wharton School professor Jeremy Siegel said Wednesday. Siegel said he was bullish on stocks in January. And that's the official forecast of the Fed," Siegel said. It could be more severe than that, which could lead to more decline in earnings," he added. To be sure, Siegel is still bullish on equities for the long term and thinks the markets will tick up in 2024 and 2025.

☆ Treasury yields mixed as investors await key inflation data, Fed minutes
▼ + stars: | 2023-04-12 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury was trading at 3.4374% after rising by less than one basis point. Meanwhile, the yield on the 2-year Treasury was down by close to a basis point to 4.0497%. Investors looked to key inflation data due Tuesday, including the consumer price index report for March and the core inflation rate. The fresh consumer inflation data will be followed by the producer price index on Thursday. The Fed's next interest rate decision in May is likely to be impacted by the fresh inflation figures.

April 11 (Reuters) - Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday said he feels the U.S. central bank may soon be done raising interest rates, a year into its most rapid monetary policy tightening since the 1980s. Harker joined his fellow U.S. central bankers last month in voting for a quarter of a percentage point increase in the benchmark overnight interest rate, taking it to a range of 4.75% to 5.00%. In a question-and-answer session following his speech, Harker said he was among that majority. Recent inflation readings "show that disinflation is proceeding slowly - which is disappointing, to say the least," Harker said. Chicago Fed President Austan Goolsbee earlier on Tuesday said he was focused on parsing the potential impact of tighter credit conditions on the economy in the run-up to the Fed's May 2-3 meeting.

☆ Wharton professor Jeremy Siegel reveals his investment plan if a recession hits and reiterates his view that the stock market bottom is in
▼ + stars: | 2023-04-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Long-time stock market bull Jeremy Siegel is getting more cautious about a potential recession. The Wharton professor said that a slew of recent economic data did not include the impact of the US banking crisis. Despite the potential for a recession, Siegel believes the October stock market lows will hold firm. And while the March jobs report was solid, it did show one concerning sign, according to Siegel: a decline in the number of weekly hours worked. "What wasn't noticed enough was another 1/10th drop in hours worked.

☆ World Health Day: 5 easy steps to get healthier
▼ + stars: | 2023-04-07 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

CNN —Wouldn’t it be nice if there were some undiscovered ingredient, and one bite of it would cure all our health concerns? But scientists do know the recipe to better health, and it is a long-term practice of good habits when it comes to sleep, eating, exercise, socialization and stress. In honor of the 75th anniversary of the World Health Organization, here are the factors that add up to better health and what you can do today to improve in these areas. Fortunately, a balanced diet, good sleep, exercise and social support can help with stress reduction. You may be thinking, I am already stretched thin in my day — adding in all these health behaviors will cause stress by itself.

☆ Legal and finance jobs are among the most at risk from AI, while construction and trade jobs face minimal influence, studies suggest
▼ + stars: | 2023-04-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

While the studies predicted advances in AI tech could also improve labor productivity and create jobs, they said some industries would likely be more affected than others. The researchers used a benchmark that matched specific work tasks with AI capabilities to calculate the results. They estimated that about 46% of work tasks in the sector could be automated. FinanceBanks are already incorporating AI tech into their day-to-day business operations. The Goldman researchers estimated that about 29% of computing and mathematical tasks in the US and Europe could be automated.

☆ No Ivy League degree? No problem: This Wall Street vet climbed his way up the ranks of Goldman Sachs after graduating from SUNY Albany
▼ + stars: | 2023-04-03 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +13 min

Ask anyone on Wall Street and they will tell you that Goldman Sachs is one of the top places to build a career as an investment banker. In an effort to diversify recruiting sources and its workforce, Wall Street generally has been expanding the schools from which it recruits. Still, Alfieri's experience can still prove valuable to today's Wall Street hopefuls. There he met Vincent Cisternino, who also had dreams of working on Wall Street. Having started his career during the financial crisis, his advice to today's Wall Street upstarts is to stay positive and persevere.

☆ Premarket stocks: Banking chaos has been bittersweet for crypto and wine
▼ + stars: | 2023-03-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But it also gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets. Bittersweet banking: SVB lent over $4 billion to winery clients since 1994, with over 400 wine industry clients (including wineries, vineyards and vendors) working with the bank’s premium wine division, according to the bank’s website. Recent SEC filings, meanwhile, indicated SVB had about $1.2 billion in outstanding loans to high-end wine clients when the bank collapsed. Circle, the company behind popular stablecoin USDC, said it had about $3.3 billion of its $40 billion in reserves at SVB. The collapse of Signature Bank, a major crypto lender, also had serious implications for the industry.

☆ AI 'prompt engineer' jobs can pay up to $335,000 a year and don't always require a background in tech
▼ + stars: | 2023-03-29 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The rise in generative AI tools like ChatGPT has created a hot market for "prompt engineers." Sam Altman, the CEO of ChatGPT developer OpenAI, has spoken about the need for prompt engineers. Anna Bernstein, a prompt engineer at Copy.ai, was a freelance writer and historical research assistant before she started working with AI tools. Prompt marketplace PromptBase, which launched last June, allows people to hire prompt engineers or sell their prompts. Don't dwell too much on the current state of prompt engineering.

☆ A Wharton professor had AI chatbots work on a business project for 30 minutes — Bing wrote 1,757 words in under 3 minutes, and ChatGPT wrote code to build an entire website
▼ + stars: | 2023-03-28 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

A Wharton professor ran an experiment to test how much AI tools could accomplish in just 30 minutes. Ethan Mollick tasked ChatGPT and the new Bing with working on a business project. ChatGPT wrote HTML code to build a website, and Bing wrote 7 pages of text in 2 minutes and 40 seconds. "I am sure humans could have done better, but they could not have been as fast," Mollick wrote of his experiment. Mollick made headlines earlier this year for requiring that his students use ChatGPT, while many schools and colleges ban such AI tools, citing concerns that they'll facilitate plagiarism.

☆ AI systems like ChatGPT could impact 300 million full-time jobs worldwide, with administrative and legal roles some of the most at risk, Goldman Sachs report says
▼ + stars: | 2023-03-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Generative AI could lead to "significant disruption" in the labor market, says Goldman Sachs. Researchers at the company estimated that the new tech could impact 300 million full-time jobs. AI systems could also boost global labor productivity and create new jobs, according to the report. The Goldman report highlighted US legal workers and administrative staff as particularly at risk from the new tech. Goldman's report suggested that if generative AI is widely implemented, it could lead to significant labor cost savings and new job creation.

☆ Want to start a side hustle and earn extra money? Here's how to launch a lucrative business and bring in six figures.
▼ + stars: | 2023-03-23 | by ( Alexandra York | ) www.businessinsider.com time to read: +9 min

Like many people during the pandemic, Davis reallocated the time she'd typically spent commuting home to building her side hustle. Davis' handbag company netted $14,000 in sales in its first four months in business, which Insider verified with documentation. Another entrepreneur, Lisa Andrea, regularly books $8,000 in revenue a month from her side hustle, The Financial Cookbook, which Insider also verified with documentation. Andrea started The Financial Cookbook, an online financial-coaching company, to earn extra income and try entrepreneurship part time before taking the plunge. Leveraging expertise, as Andrea did with financial coaching, is one way entrepreneurs can start a side hustle and balance risk versus reward.

☆ Google Bard is already behind in the AI wars with OpenAI and Microsoft
▼ + stars: | 2023-03-23 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Google Bard, the search firm's answer to ChatGPT, has underwhelmed early testers. Users in the US and UK trying out the AI chatbot find it pales in comparison to OpenAI's tech. The makers of the Twofer Goofer word puzzle found ChatGPT was much better at solving the brainteasers than Google's Bard. It's possible that the company does have a super impressive AI tool up its sleeve. Insider's Hugh Langley reported earlier in March that Google employees are testing a more intelligent version of Bard, nicknamed "Big Bard."

☆ How to get over writer's block, unlock your creativity, and brainstorm great ideas
▼ + stars: | 2023-03-22 | by ( Cindy Perman | ) www.cnbc.com time to read: +10 min

Whether you're trying your hand at a screenplay like Charlie or brainstorming ideas for an upcoming meeting, there are a few things you can do to unlock your creativity and get the ideas flowing. Sometimes, connecting with someone else is the catalyst that unlocks our own creativity and gets the ideas flowing. "However, I find that once I just start, it creates momentum, because then I have something to work with, and the ideas start to flow and with progress comes confidence!" In her book "Bird by Bird," on the art of writing, Lamott describes the SFD this way: All good writers write them. A former colleague and I used to joke that our ideas were so good, it was bigger than a brainstorm.

☆ Jeremy Siegel says the banking crisis has made him more optimistic about the US economy next year
▼ + stars: | 2023-03-22 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Jeremy Siegel said the banking crisis has made him more optimistic for the US economy next year. "A natural downshift in how tight policy will become from this is one of silver linings from this current banking crisis," he said. "So, a natural downshift in how tight policy will become from this is one of silver linings from this current banking crisis." But Siegel suggests the fallout from the banking mayhem will push the Fed to ease up on rate increases. The banking turmoil is doing some of the US central bank's job for it by tightening financial conditions, according to several analysts.

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