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☆ Shopify offloads its logistics baggage
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

TORONTO, May 4 (Reuters Breakingviews) - Shopify (SHOP.TO) is finding that simpler is better after all. Investors welcomed the move: Shares of the company led by Tobias Lütke shot up over 20% in morning trade. Shopify wanted to build out its own logistics business, and now it's leaving that job to Flexport instead. That said, Shopify already uses partnerships with other companies to expand in hard-to-crack areas like fintech, including with payments giant Stripe and buy-now-pay-later company Affirm (AFRM.O). Although Shopify said on Thursday that first-quarter revenue rose 25% year-on-year, beating analyst expectations, Shopify's small-business customers are under pressure from rising interest rates.

☆ NBA roundup: Anthony Davis, Lakers sprint past Grizzlies
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +4 min

[1/5] Apr 22, 2023; Los Angeles, California, USA; Los Angeles Lakers guard Dennis Schroder (17) shoots the ball against Memphis Grizzlies forward David Roddy (27) in the fourth quarter during game three of the 2023 NBA playoffs at Crypto.com Arena. LeBron James added 25 points and nine rebounds as the Lakers took a 2-1 lead in the Western Conference matchup. D'Angelo Russell had 17 points and Rui Hachimura scored 16 for Los Angeles, which led by as many as 29 points in the wire-to-wire victory. Desmond Bane (18 points) ended the Morant run with a 3-pointer that cut the Los Angeles lead to 108-99 with 1:24 remaining. James Harden collected 17 points, 11 assists and eight rebounds.

☆ LeBron James leads the Los Angeles Lakers to a 111-101 win and 2-1 series lead against the Memphis Grizzlies
▼ + stars: | 2023-04-23 | by ( Patrick Sung | ) edition.cnn.com time to read: +4 min

Los Angeles Lakers superstar LeBron James and center Anthony Davis had strong performances to help lead LA to a big 111-101 win over the Grizzlies in front of a sold-out crowd at Staples Center on Saturday to take a 2-1 lead in their best-of-seven first round NBA Playoff series. Brooks was ejected from Game 3 for a flagrant 2 foul on LeBron James. Anthony Davis had a massive night, racking up 31 points, 17 rebounds and three blocks. Wally Skalij/Los Angeles Times/Getty ImagesAfter the game, James said that the game wasn’t about making a “statement” to Brooks and the rest of the Grizzlies. Sixers forward Tobias Harris led the way for Philly with 25 points and 12 rebounds in what is Brooklyn’s second straight first-round sweep.

☆ Front-line NATO allies worry they could be next after Russia's invasion of Ukraine and are getting ready for a fight
▼ + stars: | 2023-04-23 | by ( Sinéad Baker | Jake Epstein | ) www.businessinsider.com time to read: +13 min

These countries along the military alliance's front line are now scrambling to make sure they're protected should the Russian military ever come knocking. "There is an imminent need of a stronger NATO presence in our region," Estonia's Foreign Minister Urmas Reinsalu said. For nearly 14 months, the Russian military has been bogged down by its grinding war in Ukraine. More boots on the groundSome leaders in the Baltic countries have said that they ultimately want to host more NATO troops, including permanent brigades, in the years to come. So as the threat landscape continues to shift, the Baltic defense has adapted along with it, Townsend said.

☆ US abortion providers relieved but wary as Supreme Court preserves pill access
▼ + stars: | 2023-04-22 | by ( Sharon Bernstein | ) www.reuters.com time to read: +4 min

April 21 (Reuters) - Abortion rights supporters expressed relief on Friday after the U.S. Supreme Court preserved access to a widely used abortion pill but warned of a long fight ahead as a legal challenge to the medication continues. Abortion providers had been stockpiling the abortion pill mifepristone or planning to switch to a new regimen amid the battle over the legality of a drug used in more than half of U.S. abortions. Several providers said late on Friday they would pause plans to change their medication abortion protocol in light of the Supreme Court's order. The Supreme Court did not rule on the merits of the case, however, meaning that mifepristone could still be restricted or banned at a later stage in the case. Several states where abortion remains legal, including California, Massachusetts and Washington, previously said they had begun stockpiling abortion drugs in advance of possible restrictions.

The latter could slam global growth back to about 1% this year, effectively a recession on a per-capita GDP basis. 'PERILOUS' RISKSThe IMF's Global Financial Stability Report warned of a "perilous combination of vulnerabilities" in financial markets, saying that some participants had failed to adequately prepare for the impact of interest rate increases. Despite the warnings, the IMF's chief economist, Pierre-Olivier Gourinchas, said inflation is still the bigger problem and that price stability should take precedence over financial stability risks for central banks' monetary policy. Only in the event of a very severe financial crisis should those priorities be reversed, he said in a news conference. She added that the global financial system was also resilient due to reforms enacted after the 2008 financial crisis.

In its latest Global Financial Stability Report, the IMF said global financial stability risks had increased "rapidly" in the six months since its previous assessment when it was already touting hazards as being "significantly skewed" to the downside. The IMF said the bank failures "have been a powerful reminder" of the challenges wrought by tighter monetary policy - and the more stringent financial conditions it generated - and the buildup in vulnerabilities since the global financial crisis more than a decade ago. Problems at U.S. regional banks grew last year, as rapidly rising interest rates slashed the value of some banks' holdings in long-term assets such as home loans and government bonds. Going forward, regional banks could face greater scrutiny with respect to their holdings and funding structures, the IMF cautioned. Even still, authorities should be more prepared to deal with financial instability, the IMF recommended, including by strengthening their bank resolution regimes.

☆ There could be 'other stressors' in the non-bank financial sector, IMF warns
▼ + stars: | 2023-04-11 | 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 EmailThere could be 'other stressors' in the non-bank financial sector, IMF warnsTobias Adrian, director of the monetary and capital markets department at the International Monetary Fund, warns that there could be potential risks in the non-bank financial sector following a series of recent banking crises.

☆ I watched Ben Affleck's new 'Air' movie with 72 Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
▼ + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

The movie also shows how early Nike employees didn't hesitate to break rules. The scene sums up what's right, and what's wrong, with the movie, according to former and current Nike employees. It shows early Nike employees didn't hesitate to take risks. Nike veterans said the movie captures the company's willingness to take risks, especially early executives like Phil Knight, played by director Ben Affleck. Affleck, who also played Knight in the movie, nailed the story's arc, by all accounts.

☆ I went to see Ben Affleck's new "Air" movie with some Nike veterans. Here's what they said the movie got right and what it got wrong about the race to sign Michael Jordan.
▼ + stars: | 2023-04-06 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

☆ Sweden less sure it will join NATO by July - TT
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, March 30 (Reuters) - Sweden's foreign minister said on Thursday he was no longer sure his country would be able to join NATO by July, after fresh signs of objections from Hungary. Sweden applied to join the military alliance after Russia's invasion of Ukraine last year, but Hungary and fellow NATO member Turkey held off from approving the bid. Foreign Minister Tobias Billstrom said last week that "it goes without saying" Sweden would become a member by the time of a NATO summit in Vilnius in July. Finland applied to join NATO at the same time as Sweden. Its NATO membership was approved by the Hungarian parliament on Monday and is expected to be ratified by Turkey soon.

☆ Sweden summons Russia's ambassador over "legitimate target" statement
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

OSLO, March 29 (Reuters) - Sweden's foreign ministry said on Wednesday it will summon Russia's Stockholm ambassador to complain about an "attempt at interference" with the Swedish NATO application process. Sweden and Finland in 2022 both sought NATO membership shortly after Russia's invasion of Ukraine, and are hoping to complete the process this year. The Russian ambassador in a statement on the embassy's web site said joining NATO made the Nordic countries "a legitimate target for Russian retaliatory measures, including those of a military nature". A Swedish foreign ministry spokesperson told Reuters the ambassador would be summoned. "The foreign ministry is summoning the Russian ambassador to protest this obvious attempt at interference," Swedish Foreign Minister Tobias Billstrom separately told news agency TT.

☆ Zurich bank looks to capitalise on Credit Suisse's demise
▼ + stars: | 2023-03-27 | by ( Noele Illien | ) www.reuters.com time to read: +3 min

"There is a chance that the situation might accelerate our existing plans," he added, and suggested the bank would be open to looking into purchasing businesses from Credit Suisse, should they become available. "We want to grow and we have stated that we are open to looking at external growth as well, regardless of the situation of Credit Suisse," Baumann said. The Canton of Zurich is liable under the state guarantee for any ZKB liabilities which the bank cannot cover in the event of trouble. Deposits in Swiss bank accounts are usually only protected up to 100,000 Swiss francs. ($1 = 0.9190 Swiss francs)($1 = 0.9168 Swiss francs)($1 = 0.9160 Swiss francs)($1 = 0.9164 Swiss francs)Reporting by Noele IllienOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Warriors withstand Joel Embiid's 46-point game
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +7 min

[1/5] Mar 24, 2023; San Francisco, California, USA; Golden State Warriors guard Stephen Curry (30) dribbles the basketball against the Philadelphia 76ers in the fourth quarter at Chase Center. A 23-9 run in the first 5:59 out of the locker room quickly flipped the game in the Kings' favor. Booker finished with 32 points, 14 in the fourth quarter, and Ross' 30 points marked a season high. Italian rookie Simone Fontecchio led Utah with 26 points, while Kelly Olynyk chipped in with 16 points and seven rebounds. Haliburton and Myles Turner each scored 20 points to lead Indiana, which trailed by 29 in the fourth quarter.

Hohn, who runs hedge fund TCI Fund Management, owns 3.1% of Cellnex's shares and 5.9% in derivatives, corporate records show. However, Hohn last month wrote to Airbus, in which TCI has a 3% stake, demanding it drop a deal. "We believe that the subsequent hiring process for a new CEO has been mishandled by the board and resulted in insufficient progress to recruiting a suitable replacement," Hohn wrote in the letter, published on TCI's website. "We intend to exercise our shareholder rights to request certain shareholder resolutions be added to the next AGM," the letter said. Kan was named Cellnex's chairman in 2021 and has been an independent member of the board since 2015.

☆ Why Bucks County, Pennsylvania, is suing social media companies
▼ + stars: | 2023-03-22 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

The lawsuit, which was filed in California federal court, said “the need is great” to continue to fund mental health outpatient programs, mobile crisis units, family-based mental health services, and in-school mental health programming and training to address the mental health of young people. Bucks County is joining a small but growing number of of school districts and families who have filed lawsuits against social media companies for their alleged impact on teen mental health. Some families have also filed wrongful death lawsuits against tech platforms, alleging their children’s social media addiction contributed to their suicides. Carl Tobias, a professor at the University of Richmond School of Law, believes it will be “difficult” for counties and school districts to win lawsuits against social media companies. “There will be the issues of showing that the social media content was the cause of the harm that befell the children,” he said.

Reuters Graphics Reuters GraphicsThe Swiss Bank Employees Association, in a statement to Reuters, demanded that UBS keep job cuts to an "absolute minimum". The statement underscores the sense of unease in Switzerland, with its reputation as a global financial center on the line. Green Party lawmaker Gerhard Andrey said that Credit Suisse is "such a visible institute". "A few months ago, nobody would have thought that Credit Suisse would fail. "But also that we are upholding the reputation of the Swiss financial centre."

[1/3] Turkey's President Tayyip Erdogan and Finland's President Sauli Niinisto shake hands during their meeting in Ankara, Turkey March 17, 2023. The parliaments of all 30 NATO members must ratify newcomers. "We have decided to initiate the ratification of Finland's accession process to NATO in our parliament," Erdogan told reporters after meeting with Niinisto, adding he hoped parliament would endorse the bid before May 14 elections. Amid simmering tensions with Sweden, Erdogan signalled in January that Turkey could endorse Helsinki ahead of Stockholm. Washington and other NATO members had hoped the two Nordic countries would join the alliance at a NATO summit set for July 11 in Vilnius.

☆ The man in charge of deporting Pablo Escobar's 'cocaine hippos' explains how he plans to fly 70 of them across the world
▼ + stars: | 2023-03-15 | by ( Crystal Raypole | Jessica Orwig | ) www.businessinsider.com time to read: +7 min

Authorities plan to relocate 70 of the hippos living wild in Colombia, but it's not an easy task. Very carefully, according to David Echeverri López, head of Biodiversity Management, Protected Areas, and Ecosystem Services at Cornare in Colombia. So, authorities will continue pursuing other options, from sterilization to searching for other zoos and sanctuaries willing to take hippos. The thickness of a hippo's skin, and the density of their subcutaneous tissue, also makes it challenging to deliver enough anesthesia to keep them asleep for the right amount of time. Cornare has sterilized 13 hippos, López said, and relocated seven to zoos in Colombia.

Two lawmakers with knowledge of the exports and two former officials said the approvals reflected Britain’s increased willingness to support Taiwan. One of the lawmakers, who also spoke on the condition of anonymity, said authorising the export licences amounted to giving a "green light" to better equip Taiwan. It shows the government authorised 25 export licences to Taiwan during the first nine months of 2022 under the categories "components for submarines" and "technology for submarines." Taiwan has for decades been unable to buy conventional submarines from other countries because of their concerns of angering China. Asked about the decision to approve the increase in export licences, the official said: "You just don't do something like this without thinking through the implications very carefully."

☆ Percentage of senior women at European hedge funds halved since 2021 -Preqin
▼ + stars: | 2023-03-08 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, March 8 (Reuters) - The percentage of women holding senior positions at European hedge funds has more than halved since 2021, according to a report on Wednesday by data provider Preqin. The percentage of women holding general and limited partner roles in hedge funds in Europe has fallen to just 8% in 2023 from 17.4% in 2021, according to Preqin data. Reuters Graphics Reuters GraphicsThe proportion of women in the hedge fund industry elsewhere in the world has dropped too, to 16.30% from 18.8% in North America, and to 18.9% from 21.2% in Asia over the same period. Of the 10 countries with the highest percentage of women holding senior positions at hedge funds, Hong Kong comes top with 17.3%, while Brazil has the lowest proportion, with 7%. Roughly 12% of UK hedge fund employees are women, according to the data.

☆ Percentage of senior women at European hedge funds halved since 2021
▼ + stars: | 2023-03-08 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

☆ Missing tax forms will 'definitely' delay your refund, expert warns. How to know which ones you need
▼ + stars: | 2023-03-02 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

One way to avoid possible issues is by getting organized with the necessary tax forms, known as information returns, sent to the IRS and taxpayers yearly. Here's why: If you skip tax forms received by the agency, the IRS systems may flag your return and mail you a notice, she explained. Whether you're working with a tax professional or filing on your own, here's what to know about your tax forms — and when to expect them. Regardless of your situation, it's important to have all the necessary forms handy before filing your return, Loyd said. watch nowMake a checklist with last year's returnIf you're not sure which tax forms to expect, experts say last year's tax return is a great starting point.

☆ The small European nation of Switzerland beat sky-high inflation. Here's how
▼ + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

watch nowZURICH — As many countries across the globe battle stubbornly high inflation, the rise in prices has been far less dramatic in Switzerland, a small mountainous nation in western Europe. The stability of the Swiss francAnother reason for Switzerland's relative price stability stems from the strong Swiss franc. While many currencies plunged against an appreciating U.S. dollar, the Swiss franc held steady amid volatility in Europe. The Swiss franc is heavily backed by large reserve of gold, bonds and financial assets, which help the Swiss National Bank ensure the currency's stability during times of volatility. A stronger Swiss franc provides an effective discount on those imports.

☆ Inflation is thrashing countries all around the world. But not Switzerland
▼ + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

As many countries across the globe battle sky-high inflation, Switzerland's economy is seeing something far less dramatic. Inflation in Switzerland hit a 29-year high of 3.5% in 2022. While high by Swiss standards, that figure is well below the double-digit inflation of comparable economies including the United States (9.1%), United Kingdom (11.1%) and euro zone (10.6%). "It's coming down a little bit," Tobias Straumann, professor of modern and economic history at the University of Zurich, told CNBC. So, what is it about the Swiss economy that's allowed it to largely sidestep inflation, and what can other countries learn from it?

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