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☆ A CIO who helps oversee $98 billion details how to invest in the winners of China's reopening in an environment where the wider stock market will struggle to break even for the rest of the year
▼ + stars: | 2023-02-22 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Jimmy Chang, the CIO of Rockefeller Capital Management, believes the best case scenario for stocks in 2023 is to trade sideways. Despite this, he says there's ample opportunities to be found as the Chinese economy reopens. He defines "old economy" stocks as those in more traditional industries like industrials and commodities, as well as those that directly benefit from global aging demographics, such as healthcare and life sciences. While utilities and consumer staples stocks are also typically more recession-proof, Chang believes that valuations are currently too high for both sectors. "I would rather participate in this Chinese rebound through the resource market, for example, owning commodities," he explained.

☆ NHL roundup: Ryan O’Reilly's hat trick leads Leafs
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +8 min

O'Reilly's goals -- his first since joining Toronto in a trade with St. Louis last Friday -- marked his fourth career hat trick. John Tavares added a goal and three assists, William Nylander had a goal and an assist, and Michael Bunting also scored for Toronto. 700, has collected nine points (five goals, four assists) during a six-game point streak. The Canucks scored goals just 51 seconds apart late in the third period to tie it 4-4. Tampa Bay stretched its franchise-record home point streak to 15 games (14-0-1).

[1/2] People stand in line to use an ATM money machine in Saint Petersburg, Russia February 27, 2022. For the majority, who bank in roubles with huge retail lenders, such as Sberbank (SBER.MM), the answer is: not much. "Nothing has changed for me at all," said Vyacheslav Fatikhovich, a taxi driver in the Urals city of Yekaterinburg. "The only thing is that customers are paying less by card and more often in cash," he said. "I quickly opened three UnionPay cards at different Russian banks," Andrey, who now works outside Russia, said.

☆ Cisco's stellar quarter and guidance raise is overshadowed by investor concerns about its backlog
▼ + stars: | 2023-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Bottom line Cisco unveiled a stellar fiscal second quarter after the closing bell on Wednesday, and its ability to dramatically raise guidance came as a surprise to most investors. Cisco's software sales increased by 10% on an annual basis in its fiscal second quarter, while software-subscription revenue grew by 15%. But analysts and investors remain uncertain about the health of the company's orders once that backlog dries up. Much of that software revenue is ratable, meaning revenue is spread out over a long period and not recognized immediately. Guidance Cisco's quarter may have been better than what the Street expected, but where it really shined was guidance.

☆ Exclusive: After costly bond issue, Mexico's Pemex banks on high oil prices to pay off debt -sources
▼ + stars: | 2023-02-15 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

The high cost of borrowing forced a recalibration in Pemex and renewed determination to avoid the market, two company sources familiar with the matter said. Pemex has said it must pay back some $8 billion of financial debt this year and $8.7 billion next. But both sources said Pemex was banking on high crude oil prices to maintain the investments for this year as well as meet its financial obligations - without issuing more bonds. Financial debt started ballooning years ago when the oil company took on debt to pay its debts. Pemex declined to reveal the total value of debt payments due and Reuters was unable to independently calculate the figure.

☆ Here are 15 mental health startups set to defy the funding slowdown and excel in 2023, according to venture capitalists
▼ + stars: | 2023-02-14 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Europe's mental health startups raised a record $1.4 billion in 2021 but investment slumped last year. We asked 9 of Europe's top mental health VCs to name the startups to watch in 2023. Startups tackling issues around mental health have been far from immune to the global slowdown in tech funding. Insider asked nine European venture capitalists to pick out mental health startups that will excel throughout 2023 despite the overarching slowdown in funding. Here are 15 European mental health startups to watch in 2023, according to some of the region's top investors.

☆ NHL roundup: Tim Stutzle helps Senators rally past Flames
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +3 min

February 14 - Tim Stutzle scored 1:55 into overtime to cap off a four-point night and give the Ottawa Senators a 4-3 comeback win over the visiting Calgary Flames on Monday. Stutzle had assists on all three of the Senators' earlier goals, and the forward matched a personal best with four points in a game. The Flames are 12-9-11 in one-goal games this season, with the 20 combined one-goal losses leading the NHL. Roman Josi and Colton Sissons scored goals for the Predators, who lost for the second time in their last three games. Sheldon Dries replied for the Canucks, who have just one win in their past five games (1-3-1).

☆ A veteran real-estate investor who owns over 1,250 units across the country explains why 'more millionaires are made in downturns' like the upcoming housing correction — and shares 4 strategies invest
▼ + stars: | 2023-02-11 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Veteran real estate investor Dave Allred has ownership in over 1,250 units across the country. Allred believes the upcoming housing downturn will provide significant opportunities for investors. Today, the 42-year-old Allred has built a real estate empire that spans several states, including Utah, where he currently resides with his family. Besides migratory patterns, Allred also believes that the political landscape of a state can particularly affect a real estate investor's success. According to Allred, investors also shouldn't let trepidation weigh them down this year.

☆ 'The grass does not grow': In Chile's far south, the worst drought in 50 years
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

[1/5] A view of parched earth as a wetland is drying up, in Punta Arenas, Chile February 2, 2023. In the far south city of Punta Arenas, that has led to a water emergency declared last year. "In 2022 Punta Arenas had its driest year in 52 years," said Nicolas Butorovic, a climatologist from the regional University of Magallanes. "The wind picks up and dries everything and the grass does not grow, that is the drama we're facing," said Hector Garay, a livestock farmer in the region. "If there is no irrigation water, water from rain, the grass does not grow.

"Major economies are rightly stepping up investment in net zero industries," von der Leyen told a news conference. And we want to be an important part of this net-zero industry that we need globally," von der Leyen said. RESISTANCEThe European Commission is hoping member states will back its plan at a Feb.9-10 summit but it faces a hot debate. Solar sector industry group SolarPower Europe said it was concerned by what it called a "lack of focus" on specific technologies in the EU plan. The bloc is heavily reliant on China for rare earths and lithium, which are vital materials for the green transition.

☆ Fraud Economy: How Current Economic Trends Lead to More Corporate Scams
▼ + stars: | 2023-01-31 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

Get ready for what will feel like an inescapable wave of corporate fraud. And as interest rates have risen, the stock market has fallen off — which makes it harder to get dollars by whipping up new investors or offering stock. Despite Scheck's assertion that the risk of a wave of corporate fraud has heightened, he didn't want to speak in historical analogies. There be icebergsOf course, there's also fraud that goes undetected in times of easy money — companies where the very act of existing means stretching the truth. Kreuger had managed to hide that he had stretched the company's finances beyond solvency by raising money on the US stock market while it was raging.

☆ Great Fraud Reckoning Will Expose Scam Companies, Cause Stock Market Chaos
▼ + stars: | 2023-01-31 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

Get ready for what will feel like an inescapable wave of corporate fraud. And as interest rates have risen, the stock market has fallen off — which makes it harder to get dollars by whipping up new investors or offering stock. Despite Scheck's assertion that the risk of a wave of corporate fraud has heightened, he didn't want to speak in historical analogies. Kreuger had managed to hide that he had stretched the company's finances beyond solvency by raising money on the US stock market while it was raging. That may have been enough when the stock market was on a heater and investors were winning, but it's not enough when the stock market is falling, the economy is slowing, and everyone from regulators to lawmakers to kids on TikTok want answers.

“Blow dryers don’t look like blow dryers anymore." “is all about preserving the health of the hair.” Ionic hair dryers emit negative ions, which causes water on the hair to quickly disperse, allowing the hair to dry quickly. Tourmaline dryers are rapidly gaining momentum over ionic and ceramic hair dryers, according to the 2022 hair dryer research report by Technavio. Best 2-in-1 hair dryer: RevlonThe highly rated Revlon hair dryer aims to simplify the hairstyling process by simultaneously smoothing your strands with nylon and tufted bristles while drying your hair. Best salon-level hair dryer: Harry Josh ProFoster and Nation were both in agreement over the fact that this lightweight professional-grade hair dryer packs a powerful punch.

☆ NHL roundup: Pens' Kris Letang plays hero in return vs. Panthers
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +8 min

Letang, who was activated from long-term injured reserve earlier in the day, finished with two goals and two assists. Aaron Ekblad had a goal and two assists, Sam Reinhart and Matthew Tkachuk a goal and an assist apiece and Colin White one goal. Fiala also had an assist, while Anze Kopitar scored two goals and Samuel Fagemo contributed one goal for the Kings. Avalanche 3, Capitals 2Artturi Lehkonen, Alex Newhook and Andrew Cogliano scored goals, Alexandar Georgiev had 37 saves and Colorado beat Washington in Denver. Logan O'Connor had two assists for Colorado, which has won six straight despite Cale Makar missing his fourth straight game with an upper-body injury.

☆ Small-town nursing homes closing amid staffing crunch
▼ + stars: | 2023-01-22 | by ( Tony Leys | Kaiser Health News | ) www.nbcnews.com time to read: +10 min

In Iowa, 13 of the 15 nursing homes that closed in 2022 were in rural areas, according to the Iowa Health Care Association. “We’ve had more nursing homes go bankrupt in the last year than in the last 10 years combined,” she said. Nationally, the Centers for Medicare & Medicaid Services reported recently that 129 nursing homes had closed in 2022. In Iowa, Medicaid pays nursing homes about $215 per day per resident, according to the Iowa Health Care Association. Willett said a recent survey found that 72% of Iowa’s remaining nursing homes were freezing or limiting admissions below their capacity.

☆ The world's oceans are key to slowing the climate crisis, and this year is critical to guaranteeing their longevity
▼ + stars: | 2023-01-20 | by ( Freya Graham | ) www.businessinsider.com time to read: +7 min

But oceans are an important carbon sink — some more effective than rainforests. Leaders at Davos said the role of the ocean in combating climate change has been underestimated. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. Understanding 'blue carbon'Plants and trees that grow in coastal waters, such as mangroves, kelp, and seagrass, are all forms of "blue carbon," which means they absorb and store carbon. The Global Biodiversity Framework, agreed at COP15 in Montreal in December 2022, was a big step forward for oceans.

☆ Toshiba buyout heralds a big step back for Japan
▼ + stars: | 2023-01-20 | by ( Una Galani | ) www.reuters.com time to read: +7 min

MUMBAI, Jan 20 (Reuters Breakingviews) - The end of a long battle to wring some value from Toshiba (6502.T) is finally within reach. Such an outcome won’t encourage private equity firms, and big policy shifts underway may stifle the industry just as it hits a new high. Instead, after an accounting scandal in 2015, Toshiba came to epitomise Japan Inc’s pervasive value destruction. Japan typically outperforms private equity deals in other developed markets, partly because existing incentive structures for company bosses are so poor. The country’s private equity industry is only just finding its feet.

☆ As water dries up in Arizona community, residents use rainwater to flush toilets and plastic plates to avoid dishwashing
▼ + stars: | 2023-01-19 | by ( Deon J. Hampton | Deon J. Hampton Is A National Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

Another 200 homeowners in Rio Verde get water from wells on their property that are running dry, forcing them to periodically rely on water haulers, as well, residents said this week. The municipal utility Scottsdale Water decided to cut off Rio Verde Foothills to reduce its consumption as drought persists throughout the West. Arizona relies on water from the diminishing Colorado River, which supplies water to about 40 million people in several states. The utility informed Rio Verde Foothills in November 2021 that its water would be cut off starting this year. Scottsdale’s conservation efforts have left nearby residents of Rio Verde Foothills without enough water for basic necessities, such as doing laundry and washing dishes.

☆ Check out the exclusive pitch deck food waste startup Mill used to raise $100 million from Google Ventures and others
▼ + stars: | 2023-01-17 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

The startup has already raised about $100 million from investors like Google Ventures, Breakthrough Energy Ventures, Energy Impact Partners, Lowercarbon, and Prelude. "There's a lot of parallels to the story of Nest," Rogers said. However, because Mill handles the entire process from homes to farms, it faces many challenges not found in other food waste startups, Rogers said. And although the company's coffers are well-stocked in a tough market environment, Rogers told Insider that he's always open to conversations with investors. Here's an exclusive look at the 7-slide pitch deck Mill used to raise $100 million from Google Ventures, Breakthrough Energy Ventures, Energy Impact Partners, Lowercarbon, and Prelude:

☆ Rain blamed for 17 deaths in California, a state primed for very different natural disasters
▼ + stars: | 2023-01-11 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

The deaths have been reported across the state — from San Bernardino County in the south to Mendocino County in the north, according to the California Governor’s Office of Emergency Services. The 1990s was possibly the last time California had this much rain at once, he said. Josh Edelson / AFP - Getty ImagesAnother 34,000 people remained under evacuation orders across the state, Newsom said Tuesday. The parent was rescued, but the boy vanished in surging floodwaters, county sheriff’s spokesman Tony Cipolla said. The sheriff’s office resumed a search Tuesday morning after “extreme” weather hampered the effort Monday, Cipolla said.

☆ Twitter executives told advertisers to get used to Elon Musk's unpredictability as the company continues hemorrhaging ad dollars, report says
▼ + stars: | 2023-01-11 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Twitter executives have told advertisers they must get comfortable with Elon Musk's unpredictability, according to The Information. Advertising was by far the most significant source of revenue for Twitter before Musk took over. Twitter executives are reportedly becoming increasingly desperate to bring in additional revenue as some prior ad spending dries up. The downturn in spending comes as Twitter executives have told advertisers – who notoriously prefer uncontroversial content surrounding their ad campaigns – that they need to start getting comfortable with CEO Elon Musk's unpredictability, The Information reports. Advertising was by far the most significant source of revenue for Twitter before Elon Musk took over in October of last year.

☆ Inside Goldman Sachs' layoffs: 'Every 10 minutes, I just kept hearing that someone was being let go'
▼ + stars: | 2023-01-11 | by ( Carter Johnson | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

"Every 10 minutes, I just kept hearing that someone was being let go," one employee said. Goldman, which reports fourth-quarter earnings next week, has had the added problem of having lost billions on its nascent consumer banking experiment. "We've just been hearing that today was doomsday and that we'd start hearing cuts this morning. Every 10 minutes, I just kept hearing that someone was being let go," this person said. Consumer banking associateGoldman Sachs' spokesman Tony Fratto said: "We know this is a difficult time for people leaving the firm.

☆ NHL roundup: Alex Tuch, Sabres knock off Bruins in OT
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +9 min

Ukko-Pekka Luukkonen made 37 saves for Buffalo, facing 11 shots in the second period and 19 more in the third. Nic Dowd had a goal and an assist, while Dylan Strome, Anthony Mantha and Garnet Hathaway also scored. Emil Bemstrom and Kirill Marchenko also scored for the Blue Jackets in the comeback victory over the NHL's last-place team. They netted goals three times in the second, including Alex Killorn's go-ahead breakaway goal for a 4-3 lead. Stamkos scored his 498th career goal and had an assist, and Brayden Point notched a goal and a helper.

☆ Here's how beauty brand Alleyoop saved $230,000 in payroll taxes through a little-known federal program as venture capital dries up
▼ + stars: | 2022-12-28 | by ( Melia Russell | ) www.businessinsider.com time to read: +8 min

The beauty startup Alleyoop shared part of the application it used to earn $230,000 in tax credits. AlleyoopIn its application, Alleyoop said that Kashani, who leads product development, and other technical personnel met the program's criteria in designing "a state-of-the-art all-in-one portable razor." It described creating 3D models during product development and determining the best materials to "maximize protection from pathogens while maintaining the product's functionality." Concept FormationMany of these solutions required the Project Team to design products that met extremely narrow spatial specifications. R&D ObjectivesSphynx's objectives required the Project Team to design and research new ideas and transform them into viable prototypes suitable for testing out hypotheses regarding design parameters.

☆ Indian shares flat in choppy trade as liquidity dries up
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 28 (Reuters) - Indian shares swung between small gains and losses on Wednesday in the absence of major triggers, with liquidity drying up ahead of the year-end and weaker global cues. Foreign institutional investors had sold net 43.2 billion rupees since Dec. 16, as per National Stock Exchange data. Adding to the worries for domestic equities were oil prices, which hovered around a three-week high on hopes of demand recovery in China. Higher oil prices hurt oil-importing countries like India, where crude constitutes the bulk of the country's import bill. Twenty-six of the Nifty 50 stocks logged losses, with Bharti Airtel (BRTI.NS), Bajaj Finserv (BJFS.NS), ONGC (ONGC.NS), Infosys (INFY.NS) and Bajaj Auto (BAJA.NS) losing over 0.6%.

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