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But housing costs have soared in the state over the past decade due to a lack of new construction, making it difficult for some students to live close enough to those universities to attend them. In Santa Cruz, the problem has been exacerbated by a flood of remote workers who arrived from the Bay Area during the pandemic and a 2020 wildfire that destroyed 900 housing units countywide. Santa Cruz is the second most expensive market for renters in the nation.

☆ After a 35-year break, the US Navy is building frigates again, and it has a lot of catching up to do
▼ + stars: | 2023-05-07 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +9 min

Fincantieri plans to lay the keel of that ship, USS Constellation, this August. It will be the US Navy's first frigate since the retirement of its last Oliver Hazard Perry-class frigate in 2015. FrigatesUS Navy first-in-class frigate USS Oliver Hazard Perry in late 1977. Though not intended to operate alone against enemy capital ships, frigates are now primarily used to support destroyer squadrons and carrier battle groups by performing escort, anti-submarine, anti-air, and limited anti-surface missions. US Navy guided-missile frigate USS Curts in a dry dock at a shipyard in California in January 1982.

☆ As retirement age change sparks protests in France, here's what could happen in the U.S.
▼ + stars: | 2023-05-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Damien Meyer | Afp | Getty ImagesAn increase in pension retirement age to 64 from 62 in France has sparked ongoing protests. The U.S. could be poised for a similar change with the Social Security retirement age. Today, that higher retirement age is still getting phased in. People born in 1960 and later now must wait until 67 to receive their full "retirement age" benefits. For example, if you are eligible for a $1,000 monthly benefit at full retirement age, you would get just $700 per month if you started at age 62.

☆ Why Nearly All the King’s Realms Want to Say Goodbye and Good Riddance
▼ + stars: | 2023-05-05 | by ( Damien Cave | ) www.nytimes.com time to read: +1 min

For countries still constitutionally joined to the crown, Charles’s coronation arrived with little fanfare, and some cringing discomfort. In the wave of decolonization that followed World War II, dozens of independent countries climbed out from under British rule, including India, Pakistan and Nigeria. The 14 nations yet to do so stretch from Australia and Papua New Guinea to Canada and Jamaica. In some places that call the new 74-year-old sovereign their king, like the Solomon Islands and Tuvalu, there seems to be little interest in severing royal bonds. Oaths of allegiance have already been switched from queen to king in the courtrooms of remote capitals where wigs are still worn as if in 1680s London.

☆ Director Damien Chazelle to head Venice Film Festival
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

ROME, May 5 (Reuters) - Damien Chazelle, the Oscar-winning director of hit movies "La La Land" and "Whiplash", will head the main competition jury at this year's Venice Film Festival, organisers said on Friday. The Franco-American director, screenwriter and producer has close ties to the festival, having opened the prestigious event with two of his films in the past decade -- "First Man" in 2018 and "La La Land" in 2016. "I am humbled and delighted to be invited to lead this year's jury," he said in a statement after his appointment was announced. French director Alice Diop, whose first feature-length fiction film, "Saint Omer", won the Silver Lion and Grand Jury Prize at last year's festival, will head the jury to decide who should win the award for a debut film this year. The 80th edition of the festival, held on the lagoon city's Lido island, will run from Aug. 30 to Sept. 9.

☆ Novo Nordisk rivals see room to compete in $100 billion weight-loss drug market
▼ + stars: | 2023-05-04 | by ( Michael Erman | ) www.reuters.com time to read: +6 min

The company has two oral GLP-1 drugs in mid-stage trials, and aims to choose one for a late-stage trial this year. He forecasts GLP-1s or similar drugs topping $100 billion in annual sales early in the 2030s, with Lilly's product accounting for more than $50 billion in sales. Smaller biotechs are also vying for a piece of the obesity market and hope large pharmaceutical companies will pay up for partnerships. "I don't know if it's $90 billion or $80 billion or $50 billion. The current GLP-1 drugs can cause nausea and vomiting.

☆ This 44-year-old founder and CEO is stepping down to go on a 3-year religious mission. 'I feel such confidence that this is the right thing.'
▼ + stars: | 2023-04-30 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +11 min

Davis Smith founded Cotopaxi, an outdoor gear company and certified B Corporation, in 2014. In July, he will step down as CEO to go on a 3-year religious mission in Brazil. Damien Huang, Cotopaxi's president who joined the company from Eddie Bauer, where he was CEO, will move into the role. "But I feel such confidence that this is the right thing." And we don't do that by isolating ourselves or saying, "We're better than you," or "You're not doing it right."

☆ Credit Suisse logged asset outflows of more than $68 billion during first-quarter collapse
▼ + stars: | 2023-04-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

In this article CSG.N-CH0I4P-GB Follow your favorite stocks CREATE FREE ACCOUNTA sign of Credit Suisse bank is seen on a branch building in Geneva, on March 15, 2023. Fabrice Coffrini | AFP | Getty Imageswatch now"In the second half of March 2023, Credit Suisse experienced significant withdrawals of cash deposits as well as non-renewal of maturing time deposits. Customer deposits declined by CHF 67 bn in 1Q23," the bank said. The acquisition is expected to be consummated by the end of this year, if possible, but the full absorption of Credit Suisse's business into UBS Group is expected to take around three to four years. UBS on Monday announced that its Group Chief Risk Officer Christian Bluhm will remain in post due to the planned acquisition of Credit Suisse, delaying a planned May 1 handover 1 to Damien Vogel, who will now take up the newly-created role of group risk control head of integration.

☆ New Zealand ships its last livestock as ban takes effect
▼ + stars: | 2023-04-21 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, April 21 (Reuters) - New Zealand's last exports of livestock by sea have been completed and live exports have ceased, its agriculture minister said on Friday, as it fully implemented a ban on export shipments of animals on the grounds of their welfare. Live exports by sea have contributed about 0.32% of New Zealand’s primary sector export revenue, which includes farming and mining, since 2015. The total value of live animal exports in 2022 was NZ$524 million ($322.78 million). New Zealand said in 2020 it was reviewing live exports when it introduced interim measures following the capsizing of a ship bound for China that killed nearly 6,000 cows and 41 of the 43 crew members. ($1 = 1.6234 New Zealand dollars)Reporting by Lucy Craymer; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Small caps will be large this year, says Jefferies. Here are 10 buy ideas
▼ + stars: | 2023-04-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Small-cap stocks could beat their large-cap counterparts in 2023, according to Jefferies. Equity strategist Steven DeSanctis said small-cap stocks have cheap relative valuations while volume has slid, high-yield spreads have tightened and cyclicals have been sold off. Expectations are low with poor sentiment for small caps, DeSanctis said. Taken together with the attractive valuations, improving merger and acquisition landscape and better macroenvironment, he said he believes small caps will outperform in 2023. Given this varied landscape, DeSanctis screened for smaller-cap stocks that have lagged year to date but do well in Jefferies' modeling.

☆ Hollywood agency WME's newest film agent is a twentysomething talent Midas whose must-read comedy newsletter spotted rising stars and launched careers
▼ + stars: | 2023-04-18 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

High-powered Hollywood talent agency WME has scooped up a new film agent from outside the company. Daniel Cramer, a former producer at Sony Pictures, was named by Insider as a 2022 rising star of the entertainment business. He became known as a talent spotter with his Cramer Comedy Newsletter, a curated email for industry insiders. As a producer and newsletter writer, Cramer has been an under-the-radar power broker in Hollywood for several years. Do you work in the entertainment industry?

☆ Tax Day: Here's what you need to know if you haven't filed your return yet — and even if you have
▼ + stars: | 2023-04-18 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +10 min

New York CNN —It’s April 18, the official deadline to file your federal and state income tax returns for 2022. Whether you have already filed your tax return or still need to, the good news is this tax filing season has gone much more smoothly than the past three, which were hurt by the pandemic. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. If you’ve already filed your return, you’re probably glad to have it in the rear view mirror. But one thing is common for the vast majority of US tax filers: Audit rates are exceedingly low.

Qaem-5 precision-guided munition, documented by Conflict Armament Research in Ukraine. Shahed-131 UAV documented by Conflict Armament Research in Ukraine. Circuit boards of four different items of Russian military equipment found in Ukraine by Conflict Armament Research investigators. Electronic components documented by Conflict Armament Research investigators in Ukraine. Source: Conflict Armament Research

☆ Morningstar: Stocks are historically cheap — buy these 33 top undervalued names to brace for a volatile market today and profit from the recovery later this year
▼ + stars: | 2023-04-15 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

In a recent note, Morningstar shared its top 33 undervalued stocks to buy for the second quarter. While the near term may look difficult for investors, Sekera believes that these headwinds will force the Federal Reserve to pump the brakes on its rate-hiking program sooner rather than later. Valuations-wise, small-cap firms remain the cheapest, while mid-cap and large-cap stocks respectively remain just below and above market average. In a separate note, Morningstar analysts listed their top 33 undervalued stocks for the second quarter of 2023. The full list of names is below, along with each company's ticker, sector, market capitalization, and price versus fair value estimate.

☆ Wall St surges as inflation, labor data raise Fed pause hopes
▼ + stars: | 2023-04-13 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Data released before the bell showed a steeper-than-expected cooldown in producer prices and new claims for jobless benefits coming in above consensus. Both signal that the Fed's hawkish barrage of rate hikes, which began over a year ago, is working as intended. Analysts expect aggregate first-quarter S&P 500 earnings to come in 5.2% below the year-ago quarter, a stark reversal from the 1.4% year-on-year growth seen at the beginning of the quarter, according to Refinitiv. Among the 11 major sectors of the S&P 500, communication services (.SPLRCL) was up the most, while industrials (.SPLRCI) and materials (.SPLRCM), outperformers in recent sessions, suffered the steepest percentage declines. The S&P 500 posted eight new 52-week highs and one new low; the Nasdaq Composite recorded 58 new highs and 121 new lows.

☆ Last-minute tax-filing tips
▼ + stars: | 2023-04-13 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

New York CNN —So far this tax season, the IRS has received more than 90 million income tax returns for 2022. If yours is among them, here are some last-minute tax-filing tips to keep in mind as the Tuesday, April 18 deadline approaches. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. Proofread your return before submitting it: Do this whether you’re using tax software or working with a professional tax preparer. Note, however, that an extension to file is not an extension to pay.

And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & Co (JPM.N). M&A volumes dropped 44% to $282.7 billion in the U.S. and 70% to $81.87 billion in Europe. Reuters Graphics"Having a well-functioning financing market is a critical ingredient for M&A. Global M&A volumes in Q1 2023LACK OF CONFIDENCEThe depressed market valuations also presented an opportunity for prominent activist investors to launch new proxy fights, with dealmakers anticipating a boost to M&A volumes from activist campaigns in the coming quarters. "Inflationary pressures aren't subsiding as fast as people expected; there's still a lot of geopolitical tensions, and in a lot of ways, the disruption in the financing market is intensifying," Langston said.

☆ A popular brand of hoverboard was just recalled, nearly a year after two sisters died in a fire authorities linked to the toy
▼ + stars: | 2023-03-31 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +2 min

The 42-volt model of Jetson Rogue Hoverboard was recalled this week. Following the fire in April, the Hellertown Borough Fire Marshal determined the Jetson Rogue Hoverboard started the blaze, local station WPVI reported. In a notice posted on its website on Thursday, the CPSC urged customers to immediately stop using the 42-volt version of Jetson Rogue Hoverboard. The recalled Jetson Rogue hoverboards were sold at Target stores nationwide and on the Jetson Rogue website, according to the CPSC. The Kaufman family purchased the hoverboard at Walmart, Lehigh Valley Live reported.

☆ Elderly Swiss women bring European court's first climate case
▼ + stars: | 2023-03-30 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

STRASBOURG, March 29 (Reuters) - Thousands of elderly Swiss women have joined forces in a groundbreaking case heard on Wednesday at the European Court of Human Rights, arguing that their government's "woefully inadequate" efforts to fight global warming violate their human rights. More than 100 supporters and climate activists from Greenpeace gathered outside the courtroom, holding banners and flowers. Stefanie Brander, a member of the association Senior Women for Climate Protection, said that she felt the government had underestimated the group until now. [1/8] A group from the Senior Women for Climate Protection association hold banners outside the European Court of Human Rights in Strasbourg, France March 29, 2023. The Swiss government, which twice won in domestic courts in a six-year legal battle, has argued that the case is inadmissible.

☆ Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium
▼ + stars: | 2023-03-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderMarch 14 (Reuters) - Silicon Valley Bank's collapse continued to pound global bank stocks on Tuesday as investors fretted over the financial health of some lenders, despite assurances from U.S. President Joe Biden and other policymakers. The European banks index (.SX7P) fell 0.6% after posting its biggest percentage loss in more than a year on Monday. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks", Ikeda added.

"Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. A furious race to reprice interest rate expectations also buffeted markets as investors bet the Federal Reserve will be reluctant to hike next week. Traders currently see a 50% chance of no rate hike at that meeting, with rate cuts priced in for the second half of the year. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks." After marathon weekend talks, HSBC HSBA.L said it was buying the British arm of SVB for one pound ($1.21).

☆ SVB contagion fears hammer banks, roil markets
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +4 min

The Tokyo Stock Exchange banks index (.IBNKS.T) fell more than 7%, setting it on course for its steepest drop in nearly six months. Banks shares in Singapore and Australia fell. Heavy selling hit U.S. regional bank stocks overnight and traders raced away from bets on U.S. rate hikes, reckoning the instability would turn policymakers cautious. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Bank stocks had run up (when) it was thought that monetary policy might normalise a bit," said Jamie Halse, who manages a Japan-focused fund at Platinum Asset Management in Sydney.

☆ Bank slide deepens as SVB contagion fear rattles markets
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +4 min

The Tokyo Stock Exchange banks index (.IBNKS.T) fell more than 5%, setting it on course for its steepest drop in nearly six months. Banks shares in Singapore and Australia fell. Heavy selling hit U.S. regional bank stocks overnight and traders raced away from bets on U.S. rate hikes, reckoning the instability would turn policymakers cautious. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Bank stocks had run up (when) it was thought that monetary policy might normalise a bit," said Jamie Halse, who manages a Japan-focused fund at Platinum Asset Management in Sydney.

☆ Japanese banks slide as SVB contagion fear rattles markets
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

"Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. "Fear has started to feed on itself, and higher uncertainty by itself has triggered its own de-leveraging and de-risking dynamics." Overnight the VIX (.VIX) volatility index, nicknamed Wall Street's "fear gauge", shot higher and other indicators of market stress showed early signs of strain. In Tokyo, Resona Holdings (8308.T) led losses with a 9% slide, followed by Sumitomo Mitsui Financial Group (8306.T), down 8%. U.S. inflation data due later in the day is likely to inject more volatility, even if investors see the Fed prioritising financial stability.

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