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☆ UBS to take over Credit Suisse, central banks act on liquidity
▼ + stars: | 2023-03-19 | by ( Reuters Staff | ) www.reuters.com time to read: +13 min

LONDON/NEW YORK (Reuters) -UBS sealed a deal to buy rival Swiss bank Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. FILE PHOTO: The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. The reports that UBS is acquiring Credit Suisse will likely magnify Credit Suisse’s problems by moving them to UBS... The Credit Suisse issues are not new and needed to be resolved years ago. A legal challenge by Credit Suisse shareholders, who will claim that their property has been illegally confiscated, is guaranteed.

☆ Venture capitalists have never been more divided, with accusations flying over who killed their beloved bank SVB. How long will the bad blood last?
▼ + stars: | 2023-03-16 | by ( Ben Bergman | ) www.businessinsider.com time to read: +5 min

But in the past week, VCs aired their dirty laundry for all the world to see. Still, VCs say they have no choice but to set aside their differences and work together in the future. "Silicon Valley Bank was such a great friend of VCs for so many years that it was just really disappointing to see so many VCs work so quickly to kill it." But in the past week, VCs aired their dirty laundry for all the world to see, criticizing those who they say triggered a $42 billion bank run that doomed SVB. There's been particular animus for Founder's Fund, the venture firm founded by billionaire Peter Thiel that backed Facebook and Airbnb.

Greg Becker, who was the longtime CEO of Silicon Valley Bank, pictured last year. "Looks like Silicon Valley Bank is in some deep shit," Uncommon Capital general partner Jamie Quint tweeted. Startup founders scrambled to get their funds out of Silicon Valley Bank after its collapse. Andreessen Horowitz announced this week that it will continue banking with Silicon Valley Bank "for the foreseeable future" but is crafting a longer-term plan to diversify. Even so, he added, "I think we'd be supportive, as they stabilize, for them to be one of many partners that our founders bank with."

☆ A new surprise for U.S. savers: Turn 529s into retirement money
▼ + stars: | 2023-03-14 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

But starting in 2024, up to $35,000 in 529 funds can be redirected into a Roth IRA penalty-free. "Maybe this provision gives parents some comfort, to know that excess money could be used in future for their child's retirement." As a result, these new 529 rules might mean that parents need not be as nervous about money getting trapped. "Many parents and grandparents are worried about overfunding their 529 plans," said Mitchell Kraus, a financial planner in Santa Monica, California. "This will ease some concerns, as excess money can be used for future generations' retirement."

☆ Tech staffing unicorn Andela is buying a smaller industry peer, as startups are looking to combine amid a tough funding market
▼ + stars: | 2023-03-09 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

Remote tech-talent startup Andela is acquiring the engineering assessment platform Qualified. Companies outside of tech are still hungry for engineering talent, Andela CEO Jeremy Johnson said. Founded in 2014 with an initial focus on training and hiring African engineers, Andela now connects companies with remote technical workers in 170 countries worldwide. At first glance, the deal seems to counter prevailing trends in the tech industry: Startups are widely seeking to preserve cash as venture capital funding has slowed down, and tech companies of all sizes have undergone significant layoffs. "They've all realized they have to become tech companies," he said.

☆ 'Huge hunger cliff' looms, warns expert: Average recipient to get $90 less in food stamps as Covid aid ends
▼ + stars: | 2023-03-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

watch now"That's a really tight budget if you're talking about low-income families," said Ellen Vollinger, SNAP director at the Food Research and Action Center. The Food Research and Action Center has advocated for congressional legislation to address the problem. Food bank braces for increased demandLos Angeles County Regional Food Bank workers help with food distribution in Willowbrook, California, on April 29, 2021. The food bank has been increasing its food purchases in recent weeks to anticipate increased demand for food assistance, Flood said. In the aftermath of the pandemic's onset in 2020, the food bank was serving 1 million county residents, Flood said.

☆ Scooter Braun Buys Santa Monica Building for $25.9 Million
▼ + stars: | 2023-03-01 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Celebrity talent manager Scooter Braun, who is known for discovering pop star Justin Bieber and a public spat with Taylor Swift, has purchased a building in Santa Monica, Calif., for $25.9 million, according to the local multiple listings service and people familiar with the situation.

March 1 (Reuters) - "Call of Duty" maker Activision Blizzard Inc (ATVI.O) has been accused by a union of illegally firing two video game testers for using "strong language" in a protest at a new company policy that limits remote work. The case is the latest the union has brought to the labor board as part of a campaign to unionize the firm and its subsidiaries. Small groups of game testers at three Activision subsidiaries voted to join the CWA last year. The change received an overwhelmingly negative response from employees, the CWA said, and Activision fired two game testers who "expressed their outrage using strong language." "When faced with unfair treatment by unscrupulous employers like Activision, workers should have the right to express themselves," CWA Secretary-Treasurer Sara Steffens said in a statement.

March 1 (Reuters) - "Call of Duty" maker Activision Blizzard Inc (ATVI.O) has been accused by a union of illegally firing two video game testers for using "strong language" in a protest of a new company policy that limits remote work. The case is the latest the union has brought to the labor board as part of a campaign to unionize the firm and its subsidiaries. Small groups of game testers at three Activision subsidiaries voted to join the CWA last year. The change received an overwhelmingly negative response from employees, the CWA said, and Activision fired two game testers who "expressed their outrage using strong language." "When faced with unfair treatment by unscrupulous employers like Activision, workers should have the right to express themselves," CWA Secretary-Treasurer Sara Steffens said in a statement.

☆ VinFast slashes lease prices for first U.S. buyers
▼ + stars: | 2023-02-27 | by ( Phuong Nguyen | ) www.reuters.com time to read: +2 min

[1/2] The logo of Vietnam's VinFast, a fledgling electric vehicle (EV) maker, is pictured in a sales location at a shopping mall in Santa Monica, California, U.S., May 23, 2022. Its website showed as of Monday a monthly lease price of $399 for the vehicle for a 24-month lease. That amounts to a discount of between 33% and 54% from the initially advertised monthly lease price. VinFast said earlier this month that US Bancorp (USB.N) would provide lease financing for the company's sales in the United States. Vehicle subscription service Autonomy has a deal with VinFast to purchase 2,500 EVs, the companies said in November.

☆ James O’Keefe ousted from right-wing activist group Project Veritas
▼ + stars: | 2023-02-20 | by ( Jon Passantino | ) edition.cnn.com time to read: +3 min

CNN —James O’Keefe, the founder and chairman of Project Veritas — the right-wing activist group known for its selectively edited undercover sting videos targeting journalists and progressive groups — has been ousted from the organization, he told staff in a videotaped speech posted online Monday. “I’ve been stripped of my authority as CEO and removed from the board of directors,” O’Keefe said in a prepared statement to the group’s staff. Federal authorities have been investigating Project Veritas for its involvement in the 2020 theft of a diary kept by President Joe Biden’s daughter Ashley. Two people who sold Ashley Biden’s journal and other items to Project Veritas for $40,000 pleaded guilty last year to stealing her belongings. Project Veritas did not immediately comment on O’Keefe’s departure.

☆ Chipotle Mexican Grill to launch new spinoff, Farmesa Fresh Eatery, in a ghost kitchen
▼ + stars: | 2023-02-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Chipotle Mexican Grill is launching a new spinoff, called Farmesa Fresh Eatery, in a California ghost kitchen. And, "when the time is right," Lawton said, Chipotle will use its loyalty program database to attract potential Farmesa customers. When opened, the Santa Monica location will be Kitchen United's 24th ghost kitchen. For Chipotle, Kitchen United's model allows the restaurant chain to test out the new brand with reduced risk. For now, Chipotle's chief purpose with the location is simply to learn, but that doesn't mean Farmesa won't grow.

☆ Chipotle is launching Farmesa, a spinoff selling 'California-inspired' bowls of salmon, whipped potatoes, quinoa, and more
▼ + stars: | 2023-02-15 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Chipotle is launching a virtual restaurant brand featuring "California-inspired" bowls. The virtual restaurant makes its debut later this month in a ghost kitchen in Santa Monica, California. Farmesa will operate at the Kitchen United Mix food hall at Third Street Promenade, a tourist-heavy outdoor retail center in Santa Monica. Kitchen United is a Pasadena, California-based ghost kitchen operator with locations all over the US. Chipotle's new concept, Farmesa, is opening later this month at ghost kitchen/food hall Kitchen United Mix.

☆ Tuesday Morning says it wants to close 265 stores as part of its bankruptcy filing. See if your local store is on the list.
▼ + stars: | 2023-02-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +30 min

Camarillo: Camarillo Village Square, 2450 Las Posas Road, Ste HCamarillo Village Square, 2450 Las Posas Road, Ste H Roseville: Fairway Commons Shopping Center, 5771A Five Star Blvd. San Diego: Pacific Plaza Shopping Center, 1772‐D Garnet AvenuePacific Plaza Shopping Center, 1772‐D Garnet Avenue Woodland Hills: Pride Shopping Center, 22950 Victory Blvd. Winston-Salem: Whitaker Square Shopping Center, 1947 North Pease Haven Road, Space #1947Whitaker Square Shopping Center, 1947 North Pease Haven Road, Space #1947 Matthews: Windsor Square Shopping Center, 9945 E. Independence Blvd. ; Westhill Village Shopping Center, 7525 WestheimerWeslayan Plaza West Shopping Center, 5442‐A Weslayan Street; Westheimer Commons, 12568 Westheimer Rd. ; Westhill Village Shopping Center, 7525 Westheimer El Paso: West Towne Marketplace, 6450 N. Desert Blvd., Ste.

☆ Mobility study cites roadblocks for U.S. electric vehicles, sustainable aviation
▼ + stars: | 2023-02-07 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

Among those roadblocks, a looming shortage of battery raw materials could put government mandates “in conflict with manufacturing reality” — one of the macro trends charted in the 2023 Moving World Report, published by investment firm UP.Partners. Obstacles to the acceleration of EV production and demand in the United States include ongoing turmoil in global supply chains, insufficient vehicle charging infrastructure and an overloaded electrical grid, the 120-page report said. The study is based on dozens of interviews and cites technical and financial data from research studies by the International Energy Agency, the U.S. Energy Information Administration, McKinsey, Silicon Valley Bank, Carnegie Mellon University and others. While aviation companies continue to pursue alternative technologies from batteries to hydrogen, Managing Partner Cyrus Sigari said that sustainable aviation fuel is “the only rational pathway” to reducing aviation carbon emissions over the next 20 years. Editing by Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ One of Jeff Bezos' secrets to success: The boss should always talk last in meetings
▼ + stars: | 2023-02-04 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

If you ever find yourself taking a meeting with Jeff Bezos, don't expect the billionaire Amazon founder to speak first. There's a reason Bezos thinks managers should always speak last in business meetings, for example. "I hold a lot of meetings, and I would talk first in a meeting, and [Bezos] goes, 'No, no, no. Similarly, Bezos recommends keeping the meetings themselves as short as possible once the reading period is over, Sanchez said: "Keep meetings under an hour, if you can." Bezos' meeting method is favored by other tech executives, too.

☆ Vietnam EV maker VinFast delays U.S. car deliveries until late February
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: +1 min

The VF-8 electric vehicle from VinFast, a Vietnamese automaker producing electric cars and SUV's, is on display at their showroom in Santa Monica, California, on July 18, 2022. Vietnam's electric automaker VinFast said on Friday it will delay deliveries to its first customers in the United States to the second half of February after it finishes updating the vehicles with the latest software. The Vietnamese company, a unit of conglomerate Vingroup, is gearing up to expand in the United States, where it hopes to compete with existing automakers. It started to ship its first 999 electric vehicles (EVs) in November last year, but has not delivered them to customers yet after the company initially targeted December deliveries. We are planning to hand over the first VF8 vehicle models to customers in the second half of February," VinFast said in a statement.

[1/2] The Activision booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake/File PhotoWASHINGTON/NEW YORK, Feb 3 (Reuters) - Activision Blizzard Inc (ATVI.O) has agreed to pay $35 million to settle U.S. Securities and Exchange Commission charges that it failed to have systems in place to properly handle employee complaints and violated whistleblower protection rules, the regulator said on Friday. The SEC said the company knew employee retention issues were "a particularly important risk in its business" but did not have adequate measures in place to manage workplace misconduct complaints between 2018 and 2021. Representatives for Activision Blizzard, which did not admit or deny the SEC's charges, said in a statement they were "pleased to have amicably resolved this matter" and had "enhanced" their workplace reporting and contract language. Microsoft Corp (MSFT.O), which makes Xbox, had made a $69 billion bid to acquire Activision Blizzard, but the Federal Trade Commission asked a judge in December to block the transaction.

☆ Roadkill rate for California cougars puts population at risk
▼ + stars: | 2023-02-02 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

[1/2] National Park Service photo of the Griffith Park mountain lion known as P-22 is shown in this remote camera image set up on a fresh deer kill in Griffith Park in this November 2014 photo. P-22, a radio-collared puma that became a wildlife celebrity, was one of the many mountain lions struck by a car in California. The data adds to research showing mountain lions, also known as cougars or pumas, are under growing pressure from traffic and urban sprawl that have left their territories increasingly isolated from one another, shrinking their gene pools. The study cataloged a total of 535 mountain lion deaths on some 15,000 miles (24,140 km)of state-managed highways over eight years, from 2015 through 2022. A public celebration of P-22 is planned for Saturday in Griffith Park.

☆ Snap swings to quarterly net loss, expects lower Q1 rev; shares fall
▼ + stars: | 2023-01-31 | by ( Sheila Dang | ) www.reuters.com time to read: +3 min

Jan 31 (Reuters) - Snap Inc (SNAP.N) on Tuesday said current quarter revenue could decline by as much as 10%, sending its shares down 14% as the company struggles with weak advertising demand. Revenue for the fourth quarter ended Dec. 31 was $1.3 billion, flat from the prior-year and in line with analyst expectations. Snap's net loss was $288 million during the quarter, versus net income of $23 million the previous year. Daily active users on Snapchat rose 17% year-over-year to 375 million, beating analyst expectations of 374 million, according to IBES data from Refinitiv. Snap forecast daily active users in the first quarter between 382 million and 384 million.

☆ I thought having a 4-year-old would be easier. I feel like I'm living with a teenager.
▼ + stars: | 2023-01-29 | by ( Abigale Berwager Schreier | ) www.businessinsider.com time to read: +5 min

But my 4-year-old acts like an angsty teen with a chip on his shoulder (minus the acne and body odor). I often feel verbally abused, manipulated, and not cool enough for him — and I'm a grown-up. Normal 4-year-old behaviorThey don't call it the "F-you 4s" for nothing, Alanna Gallo, an education and parenting expert and the founder of Play Learn Thrive, said. Red flags parents should look forWhile most of this behavior is normal, albeit frustrating, there is a point where you may need outside help. And don't worry, my 4-year-old doesn't actually hate me, and he'll stop calling me a "booty butt" — eventually.

☆ Elon Musk apologizes for tweeting a baseless conspiracy theory about the attack on Paul Pelosi
▼ + stars: | 2023-01-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Elon Musk has apologized for posting a baseless conspiracy theory about the attack on Paul Pelosi. Musk's apology came a day after bodycam footage of the attack on Pelosi was released. On Saturday, after receiving a question on Twitter about whether or not he should apologize to the Pelosis, Musk said: "I apologize." Musk's apology came after bodycam footage of the assault was released Friday. The bodycam footage shows police arriving at Pelosi's home and Pelosi and his attacker struggling over control of the hammer.

☆ 7-Eleven is quietly testing self-driving robots to deliver Slurpees and Big Bite Hot Dogs in Los Angeles. Here's how it works.
▼ + stars: | 2023-01-26 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

7-Eleven is testing autonomous robot deliveries in the Los Angeles area. 7-Eleven has been testing self-driving robots to deliver some of the convenience store chain's most iconic foods and snacks – from Slurpees to Big Bite Hot Dogs. Uber Eats is testing Serve's robots in Los Angeles. The robot deliveries for 7-Eleven can only be made through the 7-Eleven delivery app, dubbed 7Now. Serve Robotics launched in 2017 as a division of Postmates and has been testing its autonomous delivery robots since 2018.

☆ Almost half of Americans think we’re already in a recession. Here's how to prepare if they're right
▼ + stars: | 2023-01-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

For those who fear a recession may be coming, the only question is when. Many economists and CEOs, in fact, expect a recession may be on the horizon this yearA recession is traditionally defined as two consecutive quarters of declining economic growth. Almost half of U.S. adults — 46% — think the nation is already in a recession, a recent Morning Consult survey found. "We're not officially in a recession," said Amanda Snyder, finance reporter at Morning Consult. The survey found 31% of more than 2,200 respondents have started taking steps to prepare for a recession.

☆ Mass Shootings in the U.S.: A Symptom of Despair - The New York Times
▼ + stars: | 2023-01-26 | by ( Jillian Peterson | James Densley | ) www.nytimes.com time to read: +23 min

Seven killed and 46 injured in Highland Park, Ill., on July 4, 2022He suffered from severe back pain. Eight killed and seven injured in Indianapolis on April 15, 2021He was known for being paranoid with a short temper. Five killed and seven injured in Aurora, Ill., on Feb. 15, 2019He had expressed violent thoughts. Nine killed and seven injured in Red Lake, Minn., on March 21, 2005He had been noticeably depressed and angry at church. Seven killed and seven injured in Fort Worth on Sept. 15, 1999He killed his daughter’s cat because he was upset.

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