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☆ People magazine offered voluntary resignation packages alongside January layoffs, and now insiders say rumors are swirling of more staff cuts ahead
▼ + stars: | 2023-02-24 | by ( Reed Alexander | ) www.businessinsider.com time to read: +8 min

The resignations, in exchange for severance packages, were offered the same day Dotdash Meredith laid off 7% of staff. In January, Dotdash Meredith cut 7% of its headcount during a difficult squeeze for the media industry, as ad spending has tumbled amid an uncertain economy. Dan Wakeford, a 7-year veteran of the publication who had served as editor-in-chief since 2019, departed last year after the formation of Dotdash Meredith under IAC. Severance pay will be paid in installments on the regular biweekly payroll schedule. KandisDo you work at People magazine or Dotdash Meredith and have insight to share?

☆ Roald Dahl publisher to release original versions after backlash
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 24 (Reuters) - Roald Dahl's famous children's books including "Charlie and the Chocolate Factory" and "Matilda" will be published uncensored later this year said publisher Puffin, bowing to pressure after a public outcry over modernised versions. Puffin, which is part of United States-based publisher Penguin Random House, said on Friday that it would release 17 of Dahl's titles under its Penguin logo later this year, with his original text unchanged. "By making both Puffin and Penguin versions available, we are offering readers the choice to decide how they experience Roald Dahl's magical, marvellous stories," Penguin Random House Children's managing director Francesca Dow said in a statement. Dahl's stinging and quirky descriptions of the adult antagonists, like Miss Trunchbull in "Matilda", have delighted young readers for decades. Puffin publishes Dahl's works, including "James and the Giant Peach" and "The Witches" in partnership with the Roald Dahl Story Company.

☆ Bearish bets on Asian FX return on renewed woes over Fed rate hikes - Reuters poll
▼ + stars: | 2023-02-23 | by ( Tejaswi Marthi | ) www.reuters.com time to read: +3 min

[1/4] A Singapore dollar note is seen in this illustration photo May 31, 2017. However, recent comments from the Fed about hiking rates for longer dampened sentiment. They turned bearish on the Thai baht , Asia's best-performing currency this year, the Singapore dollar and the Malaysian ringgit for the first time in three months. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. The survey findings are provided below (positions in U.S. dollar versus each currency):Reporting by Tejaswi Marthi in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ ChatGPT will keep 'hallucinating' wrong answers for years to come and won't take off until its on your cellphone, Morgan Stanley says
▼ + stars: | 2023-02-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

ChatGPT will keep giving occasional wrong answers for a couple of years, according to Morgan Stanley. The AI bot sometimes "hallucinates," meaning it generates responses that are seemingly convincing, but are actually wrong, according to the bank. "Accuracy will continue to be a challenge for the next couple of years," Morgan Stanley's Kim said about ChatGPT. At the same time, tools like ChatGPT could significantly improve via edge computing, according to the bank. Edge computing is a model in which processing power is placed closer to where the data is being created in the physical world.

☆ Analysts praise Nvidia's results, call A.I. opportunities the next big growth vector for the chipmaker
▼ + stars: | 2023-02-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Strong overall results from Nvidia and more artificial intelligence developments outweigh the chip stock's gaming center miss in its recent quarterly print, analysts say. The chipmaker on Wednesday posted better-than-expected quarterly results , driven by growth in its data center business that includes AI chips. CEO Jensen Huang added during a call with analysts that AI is at an "inflection point," leading businesses to purchase its chips for machine learning software. And, while the company's gaming business is unlikely to rebound to its pandemic heights, it looks "largely derisked" going forward, wrote Morgan Stanley's Joseph Moore. He added that this segment could become a steady 10% growth business for the chip maker.

☆ 8 reasons why you need an EIN for your business and how to apply for one
▼ + stars: | 2023-02-22 | by ( Lee Huffman | Elizabeth Gravier | ) www.cnbc.com time to read: +11 min

Below, CNBC Select explains how to apply for an EIN for your business and eight reasons why you need one. An Employer Identification Number (EIN) is a federal identification number for your business. These are a few of the most common reasons why you need to apply for an EIN. You cannot open a business bank account for most forms of business without an EIN.. You cannot open a business bank account for most forms of business without an EIN. Best small business resourcesOnce you have your EIN, it will be easier to separate personal and business expenses and take advantage of various small business resources, such as business credit cards, business checking accounts, business savings accounts, business loans and business expense trackers.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Coinbase, Shopify, Pinterest, Nvidia & more
▼ + stars: | 2023-02-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are upgrading shares of Shopify to BUY from Neutral, as we believe the > 20% selloff post earnings has created an attractive entry point." Morgan Stanley reiterates Home Depot and Walmart as overweight Morgan Stanley said it's standing by its overweight ratings on shares of Home Depot and Walmart after the company's reported earnings on Tuesday. Morgan Stanley also trimmed its price target on Walmart to $160 per share from $161. Morgan Stanley reiterates Apple as overweight Morgan Stanley said the tech giant remains underowned among large-cap institutional investors. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said expectations are "low" and "mixed" ahead of the company's earnings report.

☆ This one chart shows why January's stock rally hit a wall in February
▼ + stars: | 2023-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

This year-to-date chart tracks how each new report led to a corresponding move in the S & P 500. Holding on to that crucial positive update, the market continued to grind higher into the December consumer price (CPI) index reading released on Jan. 12. The market rode the "disinflation" high for another day, with the S & P 500 hit a year-to-date high on the Feb. 2. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Nvidia pops after strong quarter, guidance — showing why the stock still has long-term promise
▼ + stars: | 2023-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Nvidia (NVDA) reported better-than-expected fiscal 2023 fourth-quarter results after the closing bell Wednesday and a strong current-quarter forecast. As of Wednesday's close, Nvidia has been one of our best performers in 2023, up 42% this year. Essentially, this service provides customers the ability to access an Nvidia DGX super-computer with nothing more than their browsers and allows them to access Nvidia AI Enterprise for "training and deploying large language models or other AI workloads." Guidance Looking ahead to fiscal 2024 first quarter, management forecasted better-than-expected sales, adjusted gross margin and capital expenditures on a non-GAAP basis. Capital Allocation In its fiscal 2023 fourth quarter, Nvidia returned a total of $1.15 billion to shareholders via dividends and buybacks.

☆ TikTok helped Colleen Hoover sell 14.3 million copies of her books in 2022, new data shows. Here are 3 other key takeaways about BookTok's impact on sales.
▼ + stars: | 2023-02-22 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Book sales declined 5.8%, but BookTok authors registered a 66% growth in 2022. NPD's BookTok authors list includes over 100 writers "featured prominently on TikTok's BookTok channel." These two charts show how much BookTok has grown over the years, and which BookTok authors have increased their sales in 2022. The power of BookTok goes beyond fictionIt's not just fiction authors like Hoover and Jenkins Reid who find success on the platform. "I cannot overstate the power of what's happening on BookTok," McLean said.

☆ There's 'nothing thesis-changing' about Coinbase despite fourth-quarter beat, some Wall Street firms say
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The outlook for Coinbase changed little even after it beat analyst expectations in the latest quarter, some Wall Street firms say. Coinbase reported a loss of $2.46 per share on revenue of $629 million. Meanwhile, the firm's user base fell to 8.3 million monthly transacting users (MTUs) in the fourth quarter, down from 8.5 million in the previous quarter and the 8.22 million Street estimate compiled by StreetAccount. Bank of America's Jason Kupferberg was underwhelmed by the results, saying that there was "nothing thesis-changing in the print" despite the solid results. EBITDA beat was helped by lower opex.

☆ I made $363,000 last year from self-publishing my books. Here's how I did it spending less than $20 a week on ads and winning over BookTok.
▼ + stars: | 2023-02-21 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

She connected with readers through authors' Facebook groups and by posting regularly on #BookTok. I decided to also publish my books through Kindle Select, which made my books accessible on Kindle Unlimited, a KDP subscription serviceI've always been a big reader, and I used Kindle Unlimited when I was struggling with money. I'd found so many authors I loved on Kindle Unlimited — it was important to me to have my book available there, too. I decided to make my books accessible to Kindle Unlimited readers. I connected with new readers by posting videos and doing takeovers of other author's Facebook pagesI hustled hard on social media.

Travel insurance weekly rates at a glance:Average premium: $316.57Average trip cost: $6,747.16Average trip length: 15 daysWhat is travel insurance? See Insider's picks for the best travel insurance »Some credit cards offer a limited amount of travel insurance annually. Insider's Featured Travel Insurance Companies World Nomads Travel InsuranceAllianz Travel InsuranceTravelex travel insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Policy type Average days between purchase to trip Average trip length (days) Average trip cost Average cost of travel insurance Cancellation 53 13 $6,747.16 $396.32 Non-cancellation 16 19 N/A $91.01Source: SquareMouthWhen is the best time to travel? When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency.

☆ Scoring the best deals on Presidents' Day holiday sales: 3 smart money moves to make as you shop
▼ + stars: | 2023-02-20 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +4 min

"For two reasons – the impact of inflation during a pandemic era and interest rates – what appears to be a deal may not be." Before you charge the purchase to a credit card, remember this is one of the most expensive ways to borrow money. The annual percentage rate on a credit card is at an all-time high of nearly 20%. Credit experts say that a cash-back rewards credit card with a 0% interest introductory offer may be an even better deal. Look for lower loan rates at a credit union: Many car brands offer Presidents' Day deals that lower the purchase price or interest rates or make lease deals more attractive.

☆ Words including 'fat,' 'ugly' and 'crazy' have been removed from Roald Dahl's books, but the publisher said the 'sharp-edged spirit' of the original text has been maintained
▼ + stars: | 2023-02-19 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +4 min

Language in the latest editions of some Roald Dahl books has been changed, The Telegraph reported. The Roald Dahl Story Company said the changes mean the books "can continue to be enjoyed by all." Roald Dahl, who died in 1990, is one of the most successful authors of all time. The Roald Dahl Story Company, which manages the copyright of Roald Dahl's books and collaborated with Puffin to update the texts, said that "the irreverence and sharp-edged spirit" of the original books had not been lost. Many of Roald Dahl's books have been turned into films or TV shows.

☆ Israel cenbank to hike rates but analysts split on 25 or 50 bps
▼ + stars: | 2023-02-19 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

The rate has jumped from 0.1% in what the central bank called a "front loading" cycle. But higher than expected inflation and growth data issued last week has analysts believing a stronger dose of 50 basis points was now possible. The annual inflation rate rose to a more than 14-year high of 5.4% in January, slightly above a Reuters consensus and December's rate of 5.3%. Of the 15 economists polled by Reuters, nine project a 25 basis points hike while six foresee 50 basis points when the central bank announces its decision on Monday at 4 pm (1400 GMT). "Apprehension regarding the negative impact on mortgage borrowers is the only factor that may moderate the increase in interest rates," said Bank Hapoalim economist Victor Bahar.

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more
▼ + stars: | 2023-02-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week.

Identity theft is often a crime of opportunity, so reducing risk goes a long way to protect against identity theft. How to reduce the risk of identity theftEva Velasquez, president of the Identity Theft Resource Center, says it's best to take multiple steps to secure your identity. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.8/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Aura's website Learn more On IDShield's website Learn more On IdentityForce's website1. While this doesn't necessarily prevent identity theft, it does mitigate any potential damages as a result of identity theft. You can report identity theft over the phone; however, you will not receive an identity theft report.

☆ Asia shares skid as rate-hike fears unnerve investors
▼ + stars: | 2023-02-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Tracking Wall Street, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.68% lower and was set for its third straight week of losses. China shares (.SSEC) slipped 0.18% while Hong Kong's Hang Seng Index (.HSI) fell 0.09%. "The latest data supports the Fed view of needing to continue to raise rates and hold them there higher for longer." The market is now pricing U.S. interest rates to peak at 5.28% in July and remain above 5% till the end of the year. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 4.2 basis points at 4.661%.

☆ TikTok had a big impact on book sales in 2022, with Colleen Hoover leading the way, according to new data. Here are 4 key takeaways about BookTok's effect on the industry.
▼ + stars: | 2023-02-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

☆ Fact Check-‘Democracy is nothing more than mob rule’ quote falsely attributed to Thomas Jefferson
▼ + stars: | 2023-02-16 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Former U.S. President Thomas Jefferson never said that “democracy is nothing more than mob rule,” contrary to claims on social media saying he made this statement. Users are sharing variations of this quote on Twitter (here) and Facebook (here), falsely attributing it to him. The website Monticello.org (www.monticello.org/), which is managed by the Thomas Jefferson Foundation, included this statement in a list of spurious quotations (here). Reuters has previously debunked other quotes falsely attributed to Jefferson (here), (here). There is no evidence a quote saying that “democracy is nothing more than mob rule” was said by Thomas Jefferson.

☆ It's far harder to cancel a subscription than it is to sign up for one. A bill in Congress wants to change that.
▼ + stars: | 2023-02-16 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

Consumers and advocates are fed up with it being incredibly difficult to cancel subscriptions. Only last year did the Times begin to allow digital subscribers to cancel their subscriptions directly, Times spokesperson Charlie Stadtlander told Insider. Planet Fitness is up front that its members must cancel at a gym or by mail, even if they can sign up online. Amazon agreed to change how users cancel its Prime membership after European regulators, US consumer groups, and, finally, the FTC stepped in. Then-DC Attorney Karl Racine went after the food delivery service Grubhub for hitting customers with hidden fees and using deceptive marketing about its subscription service.

☆ Beachgoer stumbles upon record-breaking 3 foot-long dinosaur footprint left over 160 million years ago
▼ + stars: | 2023-02-16 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +2 min

A large dinosaur footprint left 166 million years ago was found on the British coast. It appears to capture the moment a Megalosaurus-like dinosaur stopped for a rest by the beach. The 3-foot-long footprint, discovered in Burniston Bay, captures the moment the dinosaur stopped to rest by the beach, according to new findings published Thursday. The footprint was likely left by a therapod, a class of two-legged dinosaurs with three toes that includes the Tyrannosaurus rex. The size of the footprint suggests the dinosaur was probably a Megalosaurus between 8 and 9 feet-high at the hip.

☆ FTSE 100 at record high on positive Centrica, StanChart earnings
▼ + stars: | 2023-02-16 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 hits record high, trading above 8,000 pointsCentrica, StanChart, Relx jump on upbeat resultsVodafone rises on report of looking at options for Africa unitFTSE 100 up 0.3%, FTSE 250 adds 0.4%Feb 16 (Reuters) - UK's FTSE 100 rose to a record high on Thursday, underpinned by corporate earnings from Centrica and Standard Chartered, while higher commodity prices drove up heavyweight miners. The blue-chip FTSE 100 (.FTSE) gained 0.3%, trading comfortably above the 8,000-point mark it had breached in the previous session. The exporter-heavy FTSE has had a stellar start to the year as positive corporate earnings and rising commodity prices supported the index. Shares of Centrica (CNA.L) jumped to top the FTSE 100, adding 4.2%, after the British gas owner's annual profit more than tripled and as it announced an extension of its share buyback programme. Standard Chartered (STAN.L) rose 1.8% after the lender reported a 28% rise in annual pretax profit and unveiled a $1 billion share buyback programme.

☆ Russia's budget deficit has surged. But economists say Moscow won't drain its war chest any time soon
▼ + stars: | 2023-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

However, both the Russian finance ministry and the central bank maintain that all of this is within their models. Christopher Granville, managing director of global political research at TS Lombard, noted two further factors distorting the most recent deficit figures. watch nowThe actual Urals price dived as a result, averaging just $46.8 per barrel during the period from mid-December to mid-January, according to the Russian finance ministry. The finance ministry also flagged massive advance payments for state procurement in January, which totaled five times those of January 2022. "Also, it has plans to issue debt, but this can only be done domestically so it's like a closed circuit — Russian banks buying debt from the Russian state, etcetera etcetera.

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