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☆ I moved to Finland after reading it's the happiest place on Earth. It's exceeded all my expectations.
▼ + stars: | 2023-12-28 | by ( Pooja Shah | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a conversation with Jorge Reyes , a 27-year-old professional from Bogotá, Colombia, who moved to Finland less than a year ago. Finland was the opposite of my hometown in Bogotá, Colombia, and completely unlike my Caribbean background, where 40 degrees Celsius, beaches, and sunshine are the norm. I saw on social media that Finland was ranked one of the happiest countries in the world. Ironically, Colombia was up there on this list, but I felt I needed to experience Finland for myself. I'm sure smaller cities within Finland might not be as receptive to foreigners as the bigger cities, but they're becoming increasingly inclusive.

Persons: —, Jorge Reyes, weren't, I'd, I've, I'm Organizations: Service, Business, LinkedIn, Helsinki Families Locations: Bogotá, Colombia, Finland, Helsinki, Spain, acclimate, Europe, Sweden, London, Estonia, Amsterdam, Italy, Paris

☆ 3 titans will fight to dominate the market for Wegovy in 2024
▼ + stars: | 2023-12-27 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Dozens of startups have jumped into the weight-loss market this year as weight-loss drugs, including Wegovy and Ozempic, have exploded in popularity. The few companies with enough money and brand recognition to stand up to Ozempic's distribution challenges — WeightWatchers, Noom, and Ro — can expect to compete for market dominance next year. But WeightWatchers signaled it's going all in on weight-loss drugs by launching its own behavioral program for patients on Ozempic in December. WeightWatchersLike WeightWatchers, Noom has remained staunchly in the weight-loss market since its 2008 launch. Ro launched its own program prescribing weight-loss drugs in January.

Persons: VCs, — WeightWatchers, Sari Kaganoff, WeightWatchers, it's, Sima Sistani, Noom, Ro, Zach Reitano, Kaganoff, Saeju Jeong, Sam Barnes, Aaron DeGagne Organizations: Business, Rock Health, Web, Getty, PitchBook Locations: Ozempic

☆ Why we see a way forward for Nvidia in China — plus our take on 2 other stocks in the news
▼ + stars: | 2023-12-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Meanwhile, Jim Cramer's interview with an influential member of President Joe Biden's cabinet proved encouraging for Club holding Nvidia . It's been a two-session roller-coaster ride that illustrates the importance of staying disciplined and not chasing stocks while they're surging for non-fundamental reasons. Traders were trying to front-run the official announcement, pushing Linde stock up 4.53% Tuesday, to an all-time high of $426.72 per share. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Nvidia CEO Jen-Hsun Huang at the Consumer Elctronics Show (CES) in Las Vegas, USA, 04 January 2017.

Persons: Linde, Jim Cramer's, Joe Biden's, It's, Pfizer's, drugmaker Seagen, there's, Gina Raimondo, Jim, Biden, Raimondo, " Raimondo, Cigna, Humana's, —, Humana, Aetna's, Jim Cramer, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Club, Nvidia, LIN, Linde, Nasdaq, Traders, . Commerce, U.S, Bank of America, Wall Street Journal, Humana, CNBC, Consumer, Audi, Getty Locations: China, U.S, Wall, Las Vegas, USA

☆ VCs are getting pickier about their weight-loss bets as startups rush to prescribe Ozempic
▼ + stars: | 2023-12-11 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

Read previewWith the Ozempic craze in full swing, investors are getting picky about the weight-loss startups they want to back. Kaganoff predicted that in the new year some startups prescribing GLP-1s would invest more money in studies using real-world evidence to show their programs work. And despite the Ozempic frenzy, weight-loss startups captured a tiny fraction of the money invested this year. Investors had put about $211 million toward weight-loss startups through mid-November, representing about 3% of digital-health funding over that period, according to PitchBook. Alfie HealthSome unlikely sectors of the healthcare industry stand to benefit from the growth of the weight-loss market.

Persons: —, Sari Kaganoff, Crystal Cox, Kaganoff, Ro, VCs, Michael Greeley, Alyssa Jaffee, 7wireVentures, she's, she'd, Mounjaro, Mercer, Michael Siluk, PitchBook, Alfie Health, it's, Alfie's cofounders, Aaron DeGagne, Jordan, he'd, DeGagne, There's Organizations: Service, Business, Rock Health, Flare Capital Partners, Getty, Employers, Health, Investors, Phenomix Sciences, Mayo Clinic, PitchBook, Tusk Venture Partners, Sword Health Locations: GLP

At issue is whether U.S. bankruptcy law allows Purdue's restructuring to include legal protections for the members of the Sackler family, who have not filed for personal bankruptcy. Members of the Sackler family have denied wrongdoing but expressed regret that OxyContin "unexpectedly became part of an opioid crisis." They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration told the Supreme Court that Purdue's settlement is an abuse of bankruptcy protections meant for debtors in "financial distress," not people like the Sacklers. The administration has also alleged that the Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to its opioid settlement.

Persons: painkiller, George Frey, Joe Biden's, Sackler, Biden, OxyContin, John Kruzel, Andrew Chung, Will Dunham Organizations: Purdue Pharma L.D, REUTERS, Rights, Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, Circuit, Thomson Locations: Provo , Utah, U.S, Stamford , Connecticut, Manhattan

☆ Meet Allison Greenfield, the law clerk driving Trump bonkers at his fraud trial
▼ + stars: | 2023-12-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +18 min

In Donald Trump's civil fraud trial, however, his attorneys have spent a disproportionate amount of time — and ire — on Allison Greenfield, the judge's principal law clerk. Notes and whispersDuring the trial, Greenfield is quiet. AP Photo/Seth WenigBecause of the enormous public interest in the Trump trial, it's held in the New York civil court's large ceremonial courtroom. AdvertisementEarly in the trial, Engoron issued a gag order forbidding Trump — and later his attorneys — from disparaging his staff, including Greenfield, citing numerous threats. A New York Law Department representative said a list of her cases was "not readily available."

Persons: Donald Trump, Arthur Engoron's, Allison Greenfield, —, Donald Trump's, Arthur Engoron, Letitia James, — Engoron, James, Alina Habba, Habba, James didn't, Hillary Clinton, Greenfield, Engoron, Christopher Kise, Clifford Roberts, Jesus M, Suarez, Trump, Chris Kise, Seth Wenig Greenfield, interposes, Alison R, Democratic Sen, Chuck Schumer, Schumer, they're, Seth Wenig, it's, It's, Trump's, Ruth B, Kraft, Falcon Rappaport, Berkman, Engoron's, hasn't, she'd, Images Greenfield, George B, Daniels, Bill Clinton, Jaffe & Asher, Gregory Galterio, Jaffe, Cardozo, Johnny Depp, Amber Heard, Anna Sorokin, Anna Delvey, Sorokin, Donald Trump Jr, Brendan McDermid, he's, — Greenfield, Greenfield didn't, Kise, Laura Italiano Organizations: Service, New, Trump —, Trump Organization, AP, Democrat, Republican Party, Democratic, Trump, Falcon, Truth, Images, Cardozo School of Law, New York University, US, Jaffe &, New York Police Department, New York Law, Engoron, American Civil Liberties Union, Business, Democratic Party, West Side Democrats, Grand Street Democrats, Hell's, Democrats, Village Independent Locations: Greenfield, New, Manhattan, New York, Engoron, York, SLU

☆ Biden’s EV Subsidy Rules Leave Room for Chinese Suppliers
▼ + stars: | 2023-12-01 | by ( Andrew Duehren | ) www.wsj.com time to read: 1 min

A challenge is making electric vehicles cheaper, to bring down carbon emissions, while reducing reliance on China. Photo: Alisha Jucevic/Bloomberg NewsThe Biden administration is moving to jolt the domestic electric-car industry out of its reliance on China. But much-awaited rules released Friday appear to leave some room for U.S. companies to work with Chinese partners. The new requirements will likely reduce the number of electric-vehicle models that consumers can buy and qualify for a $7,500 tax credit. How many vehicles are eligible will hinge on automakers’ ability to build cars that comply with the rules.

Persons: Alisha Jucevic, Biden Organizations: Bloomberg Locations: China

☆ Kelly Osbourne says her mom once pooped in her dad Ozzy Osbourne's weed to stop him from smoking
▼ + stars: | 2023-11-29 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Kelly Osbourne says her mom once pooped in dad Ozzy Osbourne's weed to discourage him from smoking. Sharon and her kids, Kelly and Jack, shared the incident with Margaret Cho in an episode of "The Osbournes Podcast." AdvertisementKelly Osbourne says her mom Sharon Osbourne once pooped in her dad Ozzy Osbourne's weed bag to stop him from smoking. Kelly, her mom Sharon, and her brother Jack Osbourne, opened up about the incident on the latest episode of "The Osbournes Podcast" featuring guest Margaret Cho. During the podcast, Sharon also recounted how she once tried to stop Ozzy from drinking too much alcohol.

Persons: Kelly Osbourne, Ozzy Osbourne's, Sharon, Kelly, Jack, Margaret Cho, —, Sharon Osbourne, pooped, Ozzy, Jack Osbourne, Mom, I'm, I'd, Rolling Stone Organizations: Service, Stone Locations: Hawaii

☆ China puts Country Garden on draft list of builders to support -Bloomberg News
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 22 (Reuters) - China has placed debt-laden Country Garden Holdings Co (2007.HK) on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Country Garden declined to comment. Once China's biggest private property developer, Country Garden missed a coupon payment in October, triggering default terms. It is unclear what specific measures will be taken to support the developers on the draft list.

Persons: Aly, CIFI, Bloomberg, Ting Meng, Nomura, Devika Nair, Xie Yu, Kim Coghill, Clarence Fernandez Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, HK, Bloomberg, Ocean Group, CIFI Holdings, Reuters, Wednesday, Regulators, Country, ANZ Bank China, Thomson Locations: Shanghai, China, Beijing, Bengaluru, Hong Kong

☆ Sam Altman inspired a mass defection at OpenAI — something Steve Jobs never did at Apple
▼ + stars: | 2023-11-21 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Sam Altman's ouster has been so unpopular that most OpenAI workers have threatened to quit. The chaotic ouster of Sam Altman from OpenAI offers lessons around corporate stewardship and about seizing opportunity . It's a remarkable and uncommon show of support for a top dog at a company, leadership experts told Business Insider. Young, leadership expert and author of "Kissinger's Betrayal: How America Lost the Vietnam War" told BI. "Emotions and personalities play a much greater role in the small company," he said.

Persons: Sam Altman's, —, didn't, Sam Altman, It's, Satya Nadella, Altman, Jamie Dimon, Warren, Jeff Bezos, Jerry McGuire, Jeffrey Sonnenfeld, Sonnenfeld, who's, Steve Jobs, it's, Ken Frazier, Merck, Indra Nooyi, Marc Benioff, Benioff, Stephen B . Young, Young Organizations: Service, OpenAI, JPMorgan, Yale School of Management, Yale's, Leadership, Apple, PepsiCo Locations: Salesforce, Vietnam

SpaceX launched Starship and its Super Heavy booster toward space for the second time on Saturday. Sitting atop its stainless steel Super Heavy booster, Starship stands nearly 400 feet tall. If Starship did reach space on Saturday, it is the largest and most powerful launch system to ever do so. AdvertisementSpaceX's explosions aren't necessarily failure in Musk's eyesThe complete Starship-Super Heavy system first attempted to reach space in April. AdvertisementIt took seven months to make all those adjustments, regain regulatory approval for flight, and prepare to launch Starship a second time.

Persons: Elon Musk, —, Elon, John Insprucker, SPadre.com livestreams, Gene Blevins, Yusaku Maezawa, That's, it's Organizations: SpaceX, Super, NASA, Service, Elon Musk's, Reuters Locations: Boca Chica , Texas, of Mexico, SPadre.com

Overall, 68.4% of Stellantis workers who cast ballots were in favor of ratification, and the contract was leading by more than 9,600 votes with only three small facilities uncounted. At Stellantis, workers at the large Jefferson North factory that makes Jeep Grand Cherokees voted 70.7% in favor of the agreement. Top assembly plant workers would get immediate 11% raises and earn roughly $42 per hour when the contracts expire in April of 2028. More than half of GM's 46,000 union workers get the top assembly plant wage. Longtime assembly plant workers also wanted to see larger pension increases as well as defined benefit pensions and health care in retirement for workers hired after 2007.

Persons: Stellatis, ”, Shawn Fain, Joe Biden Organizations: DETROIT, —, United Auto Workers, Ford, Workers, General Motors, Jefferson, Cherokees, Detroit, Detroit Mack Assembly, Wayne State University, GM, UAW Locations: Stellantis, Detroit, Detroit Mack

☆ Turkey's Bayraktar TB2 drones have lost their edge in Ukraine, but the company behind them is still making a big bet there
▼ + stars: | 2023-11-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +6 min

Turkish-made Bayraktar TB2 drones were a valuable weapon for Ukraine after Russia invaded last year. The TB2 drone has lost much of its utility as Russia's military has adapted to its use, however. AdvertisementA Bayraktar TB2 at a military base in Ukraine in March 2019. Press Office of the President of Ukraine / Mykola Lararenko / Handout/Anadolu Agency/Getty ImagesBaykar has supplied at least 50 TB2 drones to Ukraine to date. Baykar's Bayraktar Akinci drone on display at Istanbul's Ataturk Airport in April.

Persons: —, Haluk Bayraktar, Mykola Lararenko, Col, Volodymyr Valiukh, Ali Bakir, Haluk, Bakir, James Rogers, Rogers, Oguz Yeter, Paul Iddon Organizations: Service, Press, Anadolu Agency, Getty, Ukrainian, Ukraine's Main Intelligence, Business, Baykar, Cornell Brooks School Tech Policy Institute, Istanbul's, Airport Locations: Ukraine, Russia, Turkish, Russian, Kyiv, Ukraine's, Turkey, Ukrainian, Ankara, Syria, Libya, Nagorno, Karabakh, Ethiopia

☆ Djokovic beats Hurkacz at ATP Finals but semis hopes hinge on Sinner
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

TURIN, Nov 16 (Reuters) - World number one Novak Djokovic beat ATP Finals alternate Hubert Hurkacz 7-6(1) 4-6 6-1 in their Green Group clash on Thursday but the six-time champion will be sweating over semi-final qualification. Djokovic will have to wait for the final group match between Sinner and Denmark's Holger Rune later on Thursday to learn his fate. But at 6-5 down, Djokovic switched gears and won 10 points in a row to take the contest into a tiebreak, setting up six set points in the blink of an eye. Although Hurkacz saved one set point, the Serbian closed out the set to take the upper hand. Although the Poler hit more winners than Djokovic, he also made 41 unforced errors which proved to be the difference.

Persons: Novak Djokovic, Hubert Hurkacz, Djokovic's, Hurkacz, Stefanos Tsitsipas, Jannik, Djokovic, Denmark's Holger Rune, Rune, Poland's Hurkacz, unreturned, Rohith Nair, Ken Ferris Organizations: ATP, Group, Thomson Locations: TURIN, Turin, Serbian, Bengaluru

The three contracts, if approved by 146,000 union members, would dramatically raise pay for autoworkers, with increases and cost-of-living adjustments that would translate into a 33% wage gain. Top assembly plant workers would earn roughly $42 per hour when the contracts expire in April of 2028. Several smaller facilities were still voting, many of them parts warehouses or component factories where workers got big pay raises and were expected to approve the contract. Full-time temporary workers liked the large raises they received and the chance to get top union pay, he said. In the deals with all three companies, longtime workers would get 25% general raises over the life of the contracts with 11% up front.

Persons: Keith Crowell, didn’t, ” Crowell, “, Shawn Fain, Joe Biden Organizations: DETROIT, United Auto Workers, General Motors, Big, GM, Ford, Dodge, Workers, Chrysler, UAW, Biden Locations: Stellantis, Lansing , Michigan, Arlington , Texas, Wentzville , Missouri, Lansing Delta Township , Michigan, Spring Hill , Tennessee, Arlington, Detroit

☆ Chatbots just showed scientists how to make social media less toxic
▼ + stars: | 2023-11-14 | by ( Adam Rogers | ) www.businessinsider.com time to read: +14 min

AI bots, on the other hand, will do whatever you tell them to, practically for free. So researchers are starting to use chatbots as fake people from whom they can extract data about real people. In July 2020, Facebook introduced a walled-off simulation of itself, populated with millions of AI bots, to study online toxicity. His team created hundreds of personas for its Twitter bots — telling each one things like "you are a male, middle-income, evangelical Protestant who loves Republicans, Donald Trump, the NRA, and Christian fundamentalists." Scientists create experiments to be simpler than reality, to offer explanatory power uncomplicated by the messiness of real life.

Persons: chatbots, Donald Trump, Petter Törnberg, Törnberg, Emma, Terry Crews, mindlessly, we've, LLMs, Lisa Argyle, Joon, he's, Smallville's café, messier, it's, sims, Adam Rogers Organizations: ABC News, CNN, New York Times, Twitter, Institute, Logic, University of Amsterdam, Columbia University, Facebook, NRA, American, Election, Democratic, Chamber Twitter, Brigham Young University, Stanford University Locations: Alabama

Emirates airliners are seen on the tarmac in a general view of Dubai International Airport in Dubai, United Arab Emirates January 13, 2021. He told reporters Emirates would be prepared to order between 35 and 50 of the jets if Rolls-Royce improved both the durability and maintenance costs. Reuters reported on Monday that an order from Emirates for the largest version of the A350 appeared to be on hold over terms of engine guarantees with Rolls-Royce. With plans for an Emirates A350 order off the table for now, Airbus also saw a second major order from Turkish Airlines (THY) (THYAO.IS) slip off the show's agenda, industry sources said. Airbus said on Monday it had reached agreement "in principle" on a significant THY order.

Persons: Abdel Hadi Ramahi, Royce, Tim Clark, Christian Scherer, Trent XWB, Tim Hepher, Alexander Cornwell, Tom Hogue, Jason Neely Organizations: Emirates, Dubai International, United Arab Emirates, Rights, Airbus, Dubai, Boeing 777X, Royce, Reuters, GE, Boeing, Turkish Airlines, Thomson Locations: Dubai, United Arab, Rights DUBAI, Emirates, Egyptair, East, India

☆ Opinion: The lost art of waiting in line
▼ + stars: | 2023-11-12 | by ( Opinion Maggie Mulqueen | ) edition.cnn.com time to read: +5 min

Lining up to board a plane has become a stark indicator of how our society has commodified the very act of waiting. You can even avoid the line to see Santa by purchasing a photo package in advance. In psychological terms, waiting is often framed as a component of delayed gratification and is contrasted against instant gratification. When did the act of waiting get such a bad rap?”The very act of waiting can enhance our appreciation of something. Perhaps the person waiting in line to see their favorite singer perform in concert relishes the night more because of the time invested in getting into the venue.

Persons: Maggie Mulqueen Maggie Mulqueen, It’s, “ Organizations: CNN — United Airlines, Disney, Airlines

"The revenue service is already organizing the implementation of this minimum taxation on multinationals," she said in an interview on Wednesday. The revenue service did not immediately respond to a request for comment. It advocates that this mechanism will ensure that large multinational companies pay a minimum 15% tax on their profits in all jurisdictions where they operate to deter profit-shifting to tax-favorable locations. The OECD estimates that the global minimum tax, already under way in countries including South Korea and Japan, could generate up to $200 billion in additional annual revenue. She also said Brazil aims to go further in the global tax discussion to reduce differences between advanced and emerging economies and to promote the green agenda.

Persons: India Narendra Modi, Luiz Inacio Lula da Silva, Joe Biden, Rishi Sunak, Kenny Holston, Tatiana Rosito, Maria Carolina Sampaio, GVM, Rosito, Marcela Ayres, Bernardo Caram, Matthew Lewis Organizations: U.S, UK, Rights, Finance, Reuters, Organization, Economic Cooperation, Development, OECD, International Monetary Fund, Thomson Locations: India, Brazil, New Delhi, Rights BRASILIA, South Korea, Japan, United States, Rosito, Brasilia

He ordered up an economic analysis and spoke to company officials about the plant, according to White House officials. On Thursday, Biden will visit Belvidere to showcase that same auto plant, which has reopened as part of the settlement of a targeted strike by the United Auto Workers union. O'Malley Dillon said the UAW contracts and the auto plant reopening reflect a larger focus on workers by the president. The contracts, if approved by 146,000 union members in the coming weeks, would dramatically raise pay for auto workers. Top assembly plant workers would earn roughly $42 per hour.

Persons: Joe Biden, Biden, he's, ”, Jen O’Malley Dillon, White, O'Malley Dillon, Donald Trump, Gene Sperling, Trump, Shawn Fain, J.B . Pritzker, Stellantis Organizations: WASHINGTON, Biden, White, United Auto Workers, Dodge, UAW, Labor, White House, Illinois Gov, Motors, Ford, Republican Locations: Chicago, Belvidere, China, United States

Some leading Republicans, including former President Donald Trump, opposed the law or now want to cut money for infrastructure services. Political Cartoons View All 1237 ImagesThere are almost 450 port and waterway projects and 190 to improve airport terminals. Trump, the front-runner for the Republican presidential nomination, has disparaged the infrastructure package and Republicans lawmakers who backed it. Biden has joked about Trump holding “infrastructure week” events during his presidency but never managing to sign an infrastructure law. Landrieu said projects already underway have helped spur about $615 billion in private sector manufacturing and clean energy investments nationwide.

Persons: —, Biden, Joe Biden, Mitch Landrieu, Donald Trump, Landrieu, Andy Beshear, Jeff Zients, ” Biden, I’m, Ron DeSantis, he'd, ” Organizations: WASHINGTON, Boston's Logan International, Democratic Gov, Republican, Trump, Amtrak, Florida Gov, Republicans, New Locations: Montgomery, Cincinnati, Baltimore, New York City, Washington, United States, Florida, New Orleans, Alaska

☆ Bumble forecasts weak fourth-quarter revenue, shares fall
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Match last month, however, forecast fourth-quarter revenue below market estimates, reflecting the impact of a strong dollar and risk to revenue from Israel against the backdrop of the Middle East conflict. Total paying users across Bumble's apps including Badoo and Fruitz increased to 3.8 million in the third quarter, compared with 3.3 million a year earlier. Austin, Texas-based Bumble expects revenue for the quarter ending Dec. 31 to be between $272 million and $278 million, compared with analysts' estimates of $285.9 million, according to LSEG data. Total average revenue per paying user increased to $23.42 in the third quarter, compared with $22.96 a year earlier. The company posted revenue of $275.5 million, compared with estimates of $277 million.

Persons: Mike Segar, Bumble, Whitney Wolfe, Lidiane Jones, Jaspreet Singh, Shounak Dasgupta, Shilpi Majumdar Organizations: Nasdaq, Inc, REUTERS, Wall, Slack, Match, Thomson Locations: New York City , New York, U.S, Israel, Middle East, Austin , Texas, Bengaluru

☆ Europe should brace for U.S. Treasury clearing rules, says industry body
▼ + stars: | 2023-11-07 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - Europe has nowhere to hide from U.S. plans to mandate clearing of U.S. Treasuries transactions that will need to be carefully introduced over time, a global derivatives industry body said on Tuesday. A clearing house is backed by a default fund, ensuring that a transaction is completed even if one side of a transaction goes bust. Regulators began mandating the use of clearing more widely in derivatives markets after the global financial crisis in 2008 to improve stability and transparency. "It's something that you need to look at carefully and at this stage I think we still have more questions than answers as to how the actual process of clearing Treasury cash and Treasury repo will play out," Litvack said. Much will hinge on the details in the final rules that determine who will be within scope, O'Malia said.

Persons: Andrew Kelly, It's, Eric Litvack, Litvack, Scott O'Malia, O'Malia, Huw Jones, Chizu Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Regulators, International, Association, Financial, Thomson Locations: Washington ,, Europe, U.S, Treasuries, United States, repos

☆ At this year's AfroTech conference, Black tech workers sang, pitched, and worried about being laid off
▼ + stars: | 2023-11-07 | by ( Monica Melton | ) www.businessinsider.com time to read: +3 min

The biggest tech companies had less of a presence at this year's AfroTech Conference , a large gathering of Black tech professionals. Black joy and celebration were on display while the reality of a tougher tech job market lurked in the background. Not technical enoughSeveral tech employees lamented that the programming wasn't technical enough to be useful to them. They were comfortable speaking to an audience that looked like them, but also felt an urgency to share knowledge that Black tech professionals don't always get access to. While many of the Black tech workers at Afrotech were waiting for the other shoe to drop, they also scouted for startup ideas and funding.

Persons: hasn't, Morgan Stanley, Austin, Issa Rae, Rick Ross, Jadakiss, Wes Eugene, IDEO, goer, Jason Lee, Lee Organizations: Microsoft, Engineering, Labs Locations: Afrotech

☆ Epic Games goes to court to challenge Google’s app store practices
▼ + stars: | 2023-11-06 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

The legal battle follows a years-long debate about whether app store operators such as Google and Apple foster an open, competitive app ecosystem. The court fight traces back to 2020, when Epic launched Project Liberty, a plan to circumvent Apple and Google’s app store terms. Epic updated the Fortnite app to encourage players to pay for in-app content directly through Epic’s own website — rather than through Apple and Google’s in-app payment systems. That gambit triggered a violation of the app stores’ developer terms. The move also prompted both app stores to remove the Fortnite app from their platforms.

Persons: ”, Sundar Pichai, Tim Sweeney, Fortnite, Sweeney, Wilson White, they’ve Organizations: CNN, Google, Court, Apple, Epic, Liberty, Supreme Locations: California’s

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