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☆ Sales, spins and splits — what are the differences and why do they matter for investors like us?
▼ + stars: | 2023-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +20 min

Investors may get one share in the spun-out entity for every share of the parent company they owned. What's left of J & J will be focused on pharmaceuticals and medical technologies, which were responsible for over 84% of the company's total 2022 revenue of $94.94 billion. It underscores that once free of the parent company tethers a divested company can chart its own destiny. Those priorities may not have necessarily been wrong when considering J & J as the overall enterprise. We believe J & J and Danaher are poised to deliver two more examples.

☆ I was the first woman to be hired as a pilot by a major US airline in 1973. When I first started, they called me 'the little girl' and a uniform for women didn't even exist.
▼ + stars: | 2023-04-28 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +9 min

When American Airlines hired her in 1973, Bonnie Tiburzi was the only woman among 214 new hires. This as-told-to essay is based on a conversation with Bonnie Tiburzi, the first woman to fly with American Airlines as a pilot in 1973. A Boeing 727 jet in American Airlines livery similar to the one Tiburzi would have operated. Look like a female pilotWhen Tiburzi first started working for American Airlines, there was no uniform for female pilots. After 26 years with American Airlines, I retired in 1999.

☆ MLB roundup: Gerrit Cole to 5-0 as Yanks win despite Aaron Judge injury
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +8 min

DJ LeMahieu and Gleyber Torres hit back-to-back homers in a three-run second off Texas starter Andrew Heaney (2-2). The Yankees won their second straight in a game that Aaron Judge exited in the fourth inning due to right hip discomfort. Webb was charged with two runs on seven hits in 6 2/3 innings; he walked one and struck out seven. Phillies 1, Mariners 0Kody Clemens delivered an RBI single in the second inning for the only run of the game as host Philadelphia defeated Seattle. Velazquez then hit the second pitch he saw from Lugo 404 feet into the seats in left center.

☆ MLB roundup: Astros drop Rays to 14-1 at home
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +13 min

Andrew McCutchen hit a three-run homer, Ke'Bryan Hayes a two-run double and Carlos Santana and Austin Hedges an RBI single apiece for the Pirates. Texas built a six-run lead before Nick Senzel put Cincinnati on the scoreboard with an RBI single in the seventh inning. Ruiz's homer and Joey Meneses' RBI single in the third against Jose Butto (0-1) provided an early cushion for Gray. The Brewers got single runs in the third and fourth, then pulled within 4-3 when Rowdy Tellez opened the sixth with his eighth homer. With two outs during Chicago's four-run eighth, Gomes lined an RBI single to right field for his fifth career four-hit game.

☆ 2023 layoff tracker: The latest on which companies have announced job cuts
▼ + stars: | 2023-04-25 | by ( Jennifer Korn | ) edition.cnn.com time to read: +20 min

New York CNN —BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. With 11,000 job cuts announced in November and the 10,000 announced in March, Meta’s headcount will fall to around 66,000 — a total reduction of about 25%. The company announced in January that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. IndeedJob listing website Indeed.com announced cuts of approximately 2,200 employees, representing almost 15% of its total workforce, the company said in March. The cuts come after the company announced several rounds of job cuts throughout the pandemic due to falling demand, followed by rapid hiring last year.

☆ A T. rex skeleton sold at auction for more than $5 million. It's been named Trinity and will reside in Europe's oldest skyscraper.
▼ + stars: | 2023-04-22 | by ( Associated Press | ) www.businessinsider.com time to read: +3 min

Nearly 300 T. rex bones dug up from three US sites were assembled into a single skeleton dubbed "Trinity." It was the first time such a T. rex skeleton was put up for auction in Europe. Including the "buyer's premium" and fees, the sale came to 5.5 million Swiss francs (about $6.1 million), Koller said. The Koller auction house in Zurich identified the new owner as The Phoebus Foundation, which is backed by the engineering and logistics conglomerate Katoen Natie-Indaver. The auction house said the skull was particularly rare and also remarkably well-preserved.

☆ Negative real wage growth likely to continue: University of Chicago's Tomas Philipson
▼ + stars: | 2023-04-21 | 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 EmailNegative real wage growth likely to continue: University of Chicago's Tomas PhilipsonTomas Philipson, professor at the University of Chicago, joins 'Closing Bell: Overtime' to discuss the debt ceiling, the Fed and inflation.

☆ MLB roundup: Clayton Kershaw blanks Mets, gets 200th win
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +13 min

Martinez hit two home runs in his first multi-homer game with the Dodgers and the 19th of his career. In addition to his milestone win, Kershaw (3-1) also improved to 11-0 in 17 career regular-season starts against the Mets. Mets starter Tylor Megill (3-1) gave up three runs on seven hits over five innings. Bassitt (2-2) allowed three hits and walked one batter while notching five strikeouts in 6 1/3 innings. Philadelphia chased Lance Lynn (0-2) with one out in the sixth; he allowed five runs on 10 hits, fanning seven.

Her comments were echoed by others who feel the narrative shared by three top central banks of relatively cost-free disinflation rests on shaky ground. Among the Fed, ECB and BoE, only the British central bank projects a recession will be needed to slow inflation - only a mild one at that. U.S. central bank officials have split the difference, projecting a modest one-percentage-point rise in the unemployment rate this year from its near-historic low of 3.5%, and slow, but continued, economic growth. Martins Kazaks, Latvia's central bank chief, said the risk of a recession was still "non-trivial," with a host of factors still putting pressure on prices. For the Fed, different policymakers offer different ideas about the forces that will lower inflation as high interest rates slowly cool demand.

☆ As NYC's first-ever rat czar gets to work, cities like Boston and Chicago are looking for inspiration to fix their own rodent problems
▼ + stars: | 2023-04-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

New York City Mayor Eric Adams appointed a "rat czar" to help eliminate rodents in the city. One Boston city official says the Massachusetts city should follow suit and hire a rat slayer of their own. Days later, Boston City Council President Ed Flynn recommended the Massachusetts city hire someone in a similar position ""to hopefully one day eliminate rats in Boston," the Boston Herald reported. In 2022, Chicago was named the number one "rattiest" city in the US over both New York City and Boston. "You can hear them screaming — ee, ee, ee, ee!"

CHICAGO, April 11 (Reuters) - U.S. President Joe Biden picked Chicago to host the 2024 Democratic National Convention, tapping a large liberal city in the heart of the Midwest to hold what could be his nominating party, officials said on Tuesday. "Chicago is a great choice to host the 2024 Democratic National Convention," Biden said in a statement distributed by the Democratic National Committee (DNC) on Tuesday. The city has hosted several Democratic conventions, including the tumultuous and violent 1968 gathering during the Vietnam War. "There'll be some initial heartbreak, which I'm experiencing right now," said Dominick Perkins, a top Democratic strategist in Georgia. The convention, where delegates will formally select a final Democratic nominee to run in the November 2024 presidential election, will run from Aug. 19-22 next year, the DNC said.

CHICAGO, April 11 (Reuters) - U.S. President Joe Biden and his party selected Chicago to host the 2024 Democratic National Convention, tapping a large liberal city in the heart of the Midwest to hold its nominating party, the Democratic National Committee announced on Tuesday. Chicago beat out New York, another progressive city, as well as Atlanta, a city in the presidential battleground state of Georgia that helped Biden win the White House and gain control of the Senate. “Chicago is a great choice to host the 2024 Democratic National Convention,” Biden said in a statement. The convention, where delegates will formally select a final Democratic nominee to run in the November 2024 presidential election, will run from Aug. 19-22, the DNC said. While he has not officially declared his candidacy, Biden is expected to be the party's standard-bearer in the 2024 general election.

☆ Democrats choose Chicago as the site of the 2024 convention
▼ + stars: | 2023-04-11 | by ( Natasha Korecki | ) www.cnbc.com time to read: +4 min

The Democratic Party has chosen Chicago as the site of its 2024 convention. "Chicago is a great choice to host the 2024 Democratic National Convention," Biden said in a statement. "The last Chicago convention was a huge success. It makes sense to put the Democratic National Convention in Chicago in 2024. Republicans are holding their 2024 convention in Milwaukee.

☆ Democrats choose Chicago, a target of years of GOP attacks about crime, for 2024 convention
▼ + stars: | 2023-04-11 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +5 min

With Chicago, Democrats chose a 2024 convention site that signals the significance of the Midwest. But the city has also been at the center of Democrats' weakest spot with voters: crime. Crime was a defining issue of the city's latest mayoral election that upended the city's Democratic leadership. And Republicans have long hammered the city's crime rates to put Democrats on the defensive. "Chicago is a vibrant, metropolitan city with neighborhoods that reflect the diversity of America," said Natalie Edelstein, a spokesperson for the city's convention bid.

☆ MLB roundup: Rays beat A's to stay undefeated
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +10 min

Stroman has allowed two runs and 17 hits over 32 innings while winning each of his last five home starts. Ji Hwan Bae, Ke'Bryan Hayes and Connor Joe each had an RBI double, and Oneil Cruz and Jason Delay hit RBI singles for the Pirates. Pittsburgh starter Rich Hill allowed seven runs and eight hits in four innings. Alex Cobb (0-1) was the hard-luck loser for the Giants after holding the Royals to two runs on seven hits in seven innings. Kershaw (1-1) took the loss after allowing four runs on seven hits in six innings.

☆ Can Chicago be saved? Taxes and crime rates push companies out of city
▼ + stars: | 2023-04-06 | 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 EmailCan Chicago be saved? Taxes and crime rates push companies out of cityHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Sam Sanchez, Illinois Restaurant Association, joins the show to discuss what Chicago's recent mayoral election means for small businesses.

☆ Chicago to elect new mayor as crime emerges as key issue
▼ + stars: | 2023-04-04 | by ( Brendan O'Brien | ) www.reuters.com time to read: +4 min

CHICAGO, April 4 (Reuters) - Crime is the central issue in Tuesday's mayoral runoff in Chicago, where voters are choosing between two candidates with contrasting approaches to public safety. Former Chicago Public Schools CEO Paul Vallas calls for more cops; Cook County Commissioner Brandon Johnson calls for more mental health support and opportunities for young people. Johnson, a former Chicago teacher and union organizer, says he will promote 200 new detectives from the existing pool of police officers. A poll last week by Emerson College Polling, WGN-TV and The Hill showed Vallas leading Johnson by 5 points, with 13% undecided. Reporting by Brendan O'Brien in Chicago; Editing by Donna Bryson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Highland Park students walked out to demand gun control. Minutes later, the high school went on lockdown.
▼ + stars: | 2023-04-04 | by ( Chris Panella | ) www.businessinsider.com time to read: +2 min

Highland Park students planned a walkout for gun control that was interrupted by concerns a student brought a gun. According to an update from Highland Park Police, the scene was declared safe later that morning. The scene has been secured and law enforcement has confirmed that there is no credible reason to continue the lockdown at Highland Park High School," the update read. Highland Park Police and Highland Park High School did not respond to Insider's request for further comment. Seven people were killed and dozens injured during the Highland Park mass shooting last year.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

☆ CME debuts offshore yuan options to tap rising trading demand
▼ + stars: | 2023-04-02 | by ( Georgina Lee | ) www.reuters.com time to read: +2 min

HONG KONG, April 3 (Reuters) - Chicago's CME Group (CME.O) opened options trading for Chinese yuan futures on Monday, as it looks to deepen a market that investors use for betting or hedging against moves in China's currency. Hong Kong has offered similar exchange-traded options since 2017, though bringing the product to CME - the world's biggest derivatives exchange - may be a step toward competing with the banks that dominate options by selling directly to customers. "We hope to see liquidity develop there that's comparable to the over-the-counter market," said Tim Brooks, London-based head of FX options at Optiver, which will deal in the new CME derivatives. The CME options have a range of expiry dates from weekly, to monthly or a year and are based on futures contracts with a notional amount of $100,000. CME is a much smaller yuan-trading hub than Hong Kong.

Biden's 2024 race will be different, aides and Democratic party officials say. The race to host the party convention is now down to two cities, sources say: Chicago and Atlanta. Chicago's pull is rooted in tradition, deep-pocketed donors and union ties, while Atlanta's appeal reflects the power of Georgia's grassroots networks and the importance to the party of Black voters and a racially diverse electorate. Top Democratic political officials in eight Midwestern states wrote Biden last week to push for a Chicago convention. CHICAGO, UNION TOWNHolding the convention in Chicago would put Biden in a Democratic powerhouse, where the party controls the legislature and executive branches.

Illustration by Gene KimAs weed becomes legal in more states, how and if travelers can bring their stash on board remains up in the air. Traveling between states where marijuana is legal in both the origin and destination may sound straight-forward, but with overlapping jurisdictions and hard-to-enforce guidelines, it gets complicated. Under federal law, the possession and sale of marijuana is illegal. Despite President Joe Biden's recent pardons for anyone convicted of a federal crime for simple possession and his directive to review how marijuana is scheduled under federal law, marijuana is still classified as a Schedule I substance. And even though airports are locally owned and operated, air travel still falls under federal law.

Economists who obsess about tightly calibrating the quantity of money in the system balk at QE as a tool. Two weeks of turmoil in mid-sized U.S. banks follow just nine months in which the Fed had been winding down its outsize balance sheet that peaked near $9 trillion during the pandemic. "Illiquidity episodes may force central banks to slow the process of reserve withdrawal. Reuters GraphicsILLIQUIDTY EPISODESThis could become a trap that prevents normalisation of the balance sheet longer term, they said. Better-measured and more forward-looking liquidity regulations, incentives for longer-duration deposits during QE bouts and rethinking stress tests were all options, they wrote.

☆ Op-ed: ESG investing and 2018 change in bank laws didn't cause Silicon Valley Bank to collapse, says former Sen. Heitkamp
▼ + stars: | 2023-03-21 | by ( Heidi Heitkamp | Former Democratic U.S. Senator North Dakota | ) www.cnbc.com time to read: +6 min

Within hours of the Silicon Valley Bank collapse, political spin machines on both the left and right got cranking. I was one of the Democrats on the Senate Banking Committee who negotiated that legislation, which granted regulatory relief to small community and mid-sized regional banks. Under the burden of increased regulation, smaller institutions and many regional banks were struggling to stay competitive. If all the bank depositors withdrew their deposits on the same day, any bank would fail regardless of liquidity or bank capitalization.) The Fed had the authority to enhance the current level of regional bank supervision, a step the central bank is considering in the wake of the SVB failure.

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