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☆ Five storylines to follow at this week's Masters
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +4 min

[1/8] Golf - The Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 3, 2023 Scottie Scheffler of the U.S. in action on the 12th hole during a practice round REUTERS/Brian SnyderAUGUSTA, Georgia, April 3 (Reuters) - Five storylines to follow as the best players in the world descend upon Augusta National Golf Club this week for the April 6-9 Masters. SCHEFFLER SEEKS RARE REPEATWorld number one Scottie Scheffler, who arrived at Augusta National last year as the hottest player on the planet, returns in top form and looking to become only the fourth player to successfully defend a Masters title. No player has won the Masters in consecutive years since Tiger Woods accomplished the feat in 2001-02 and prior to that only Nick Faldo (1989-90) and Jack Nicklaus (1965-66) have pulled off the Augusta double. Among those competing will be a prominent group of LIV Golf players that, in addition to British Open winner Cameron Smith, include former Masters champions Phil Mickelson, Dustin Johnson, Sergio Garcia, Patrick Reed, Bubba Watson and Charl Schwartzel. The hole has played to an historical scoring average of 4.77 that makes it the easiest hole at Augusta National.

☆ Woods and McIlroy fly PGA Tour flag at Masters practice
▼ + stars: | 2023-04-03 | by ( Frank Pingue | ) www.reuters.com time to read: +2 min

Woods and McIlroy, two of golf's biggest names who have both been vocal opponents of LIV Golf, went out off the 10th tee under overcast skies alongside former Masters champion Fred Couples and South Korea's Tom Kim. There are 18 LIV Golf competitors at this year's Masters, including 2020 champion Dustin Johnson, and while all did not schedule practice rounds on Monday those who did were also greeted warmly by the patrons. Former word number one Johnson, wearing a shirt with the logo of the 4Aces team he captains on LIV Golf, practised with current PGA Tour players Kevin Kisner, Brian Harman and Gary Woodland. Johnson, who won the inaugural season-long LIV Golf individual championship, was excited to reconnect with his former PGA Tour peers and said he does not feel any different being at Augusta National compared to years past. "I still play golf for a living.

☆ Peace, love, and Hitler: How Lex Fridman's podcast became a safe space for the anti-woke tech elite
▼ + stars: | 2023-04-03 | by ( Julia Black | ) www.businessinsider.com time to read: +26 min

Seemingly overnight, episodes of Fridman's podcast began racking up millions of views. YouTube/Lex FridmanIn his podcast, Fridman asks world-renowned scientists, historians, artists, and engineers a series of wide-eyed questions ("Who is God? But recently, "The Lex Fridman Podcast" has become a haven for a growing — and powerful — sector looking to dismantle years of "wokeness" and cancel culture. Twitter"The Lex Fridman Podcast" offered a rare opportunity to listen to four-hour conversations with luminaries of tech and science. Bhaskar Sunkara, the founder and publisher of the socialist magazine Jacobin who appeared on Fridman's podcast in December, praised Fridman's interviewing style.

☆ Couples tells LIV members stop bashing PGA and play golf
▼ + stars: | 2023-04-03 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

After signing up with the Saudi backed LIV circuit, some members delighted in taking shots at the PGA Tour as they left their old work place. "If one wants to stop and ask why I'm picking on them, then I'm all for it," said Couples after his Monday practice round. "I just don't think they should bash the PGA Tour or anybody, just go play golf." Three-times Masters champion Phil Mickelson and 2017 Green Jacket winner Sergio Garcia have both been critical of the PGA Tour and the target of Couples' barbs. Speaking at a Champions Tour breakfast, Couples took a shot at Mickelson and Saudi Arabia's Public Investment Fund that is bankrolling the LIV Tour.

☆ U.S. weekly jobless claims still low; corporate profits fall in Q4
▼ + stars: | 2023-03-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 198,000 for the week ended March 25, the Labor Department said. Claims have remained very low, bouncing around in a tight range despite high-profile layoffs in the technology industry. The so-called continuing claims covered the period during which the government surveyed households for the unemployment rate for March. Continuing claims increased moderately between the February and March survey weeks. The unemployment rate was at 3.6% in February.

☆ Hardline US Republicans oppose bank deposit guarantees beyond $250,000 limit
▼ + stars: | 2023-03-21 | by ( David Lawder | ) www.reuters.com time to read: +4 min

[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderWASHINGTON, March 20 (Reuters) - Hardline Republicans in the House of Representatives on Monday vowed to oppose any universal federal guarantee on bank deposits above the current $250,000 limit, throwing a major roadblock to a key tool regulators could deploy if bank runs re-emerge as financial confidence wobbles. The upheaval has been marked by uninsured business depositors fleeing smaller community and regional lenders toward the largest banks perceived as "too big to fail." Independent Community Bankers Association President Rebeca Romero Rainey said in a statement that depositors in safely run small banks should get the same guarantees that uninsured depositors in SVB and Signature Bank received. Runs could re-emerge if another bank falters, and if the institution is large enough, regulators will again declare a systemic risk exception and guarantee its uninsured deposits, he added.

☆ Ex-Goldman CEO Blankfein says bank rout may depress growth, even with robust capital
▼ + stars: | 2023-03-20 | by ( Lananh Nguyen | ) www.reuters.com time to read: +1 min

[1/2] Lloyd Blankfein, former CEO of Goldman Sachs, speaks at the Boston College Chief Executives Club luncheon in Boston, MA, U.S., March 22, 2018. REUTERS/Brian Snyder/File PhotoNEW YORK, March 19 (Reuters) - Turmoil in the banking sector will probably weigh on economic growth as lenders become more conservative, former Goldman Sachs Group Inc (GS.N) CEO Lloyd Blankfein said Sunday. "The greater risk environment for financials leads to husbanding of capital and risk-taking, less and more conservative investing and lending, and inevitably, lower growth," Blankfein, who also served as Goldman's chairman, told Reuters. "While some banks have been hung up by poorly managed, concentrated risk, the overall banking system is extremely well capitalized and substantially more tightly regulated than in prior challenging times,” he said. Reporting by Lananh NguyenOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Brian Snyder/File PhotoLONDON, March 15 (Reuters) - Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Short sellers had amassed bearish positions worth more than $15.7 billion against European banks by Tuesday, according to S&P Global Market Intelligence. Millennium Management, Citadel, Wellington Management, Capital Fund Management, Odey Asset Management and Marshall Wace declined to comment. Marshall Wace held the largest disclosed number of short positions against banks, public filings from Austria, Italy, Sweden, Britain, Spain and Poland analysed by Breakout Point showed. Its shares were up 18% at 1602 GMT, in a broader European banking index (.SX7P) up 1.4%In the week to Wednesday, some 120 billion euros had been wiped off the value of European bank shares.

☆ U.S. Treasury says record FDIC cash draw won't affect debt ceiling 'X-date'
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder/File PhotoMarch 14 (Reuters) - The Federal Deposit Insurance Corp said its withdrawal of a record $40 billion in U.S. Treasury Funds on Friday as it seized control of Silicon Valley Bank will not affect when the Treasury runs out of operating room under the debt ceiling. The FDIC withdrawal from the Treasury General Account was many times larger than any previous largest draws, according to data from the Daily Treasury Statement for March 10 released late on Monday. The Treasury has not altered that early June estimate, but Yellen has acknowledged that April tax receipts "will be informative" on the timing of the X-date. The Congressional Budget Office has estimated that the Treasury could hold out until sometime between July and September without a debt ceiling increase, but the timing was uncertain due to the pace of revenues and economic developments.

☆ Record FDIC cash draw for SVB may affect debt ceiling 'X date'
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +3 min

[1/3] A sign reads “FDIC Insured” on the door of a branch of First Republic Bank in Boston, Massachusetts, U.S., March 13, 2023. The FDIC withdrawal from the Treasury General Account was many times larger than any previous largest draws, according to data from the Daily Treasury Statement for March 10 released late on Monday. Combined with about $13 billion of other federal agency withdrawals on Friday, that left Treasury with just over $208 billion in operating funds at the TGA, which is held at the Federal Reserve. "The big news ... was a $40 billion cash withdrawal by the FDIC, which dragged the Treasury’s cash balance far below our day-ahead forecast," analysts at Wrightson ICAP said Tuesday. Republican House members are insisting on large budget cuts and other concessions before agreeing to lift the limit.

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderMarch 14 (Reuters) - Silicon Valley Bank's collapse continued to pound global bank stocks on Tuesday as investors fretted over the financial health of some lenders, despite assurances from U.S. President Joe Biden and other policymakers. The European banks index (.SX7P) fell 0.6% after posting its biggest percentage loss in more than a year on Monday. "Bank runs have started (and) interbank markets have become stressed," said Damien Boey, chief equity strategist at Sydney-based investment bank Barrenjoey. The prospect of higher interest rates had been "the reason investors have been really excited about Japan bank stocks", Ikeda added.

☆ Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
▼ + stars: | 2023-03-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +5 min

[1/2] Customers wait in line outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian SnyderNEW YORK, March 14 (Reuters) - Extreme volatility is rattling U.S. Treasury markets in the wake of Silicon Valley Bank's (SIVB.O) collapse and investors fear a prolonged bout of gyrations before calm returns to bond markets. The Fed chief's hawkish message helped push yields, which move inversely to prices, to their highest levels in years. As investors piled back into Treasuries, yields plummeted. Over the longer term, sustained rate volatility is unlikely to be good for stocks, said Purves, of Tallbacken Capital.

[1/5] Plants grow through an array of solar panels in Fort Lauderdale, Florida, U.S., May 6, 2022. REUTERS/Brian SnyderMarch 6 (Reuters) - U.S. imports of solar panels are finally picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies. The gains are a relief to major Chinese suppliers including Trina Solar (688599.SS) and Jinko Solar (JKS.N), who are finally getting products into the lucrative U.S. market after long delays. Trina rival Jinko Solar Holding Co Ltd (JKS.N) has also had shipments released from detention, a source close to the company said. It would not specify how many of those were solar products.

☆ Infected in the first wave, they navigated long COVID without a roadmap
▼ + stars: | 2023-02-20 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +6 min

Three years later, at least 65 million people worldwide are estimated to have long COVID, according to an evidence review published last month in Nature Reviews Microbiology. An analysis of thousands of health records by the RECOVER trial found that non-Hispanic white women in wealthier areas were more likely than others to have a long COVID diagnosis. Researchers said that likely reflected disparities in access to healthcare, and suggests that many cases of long COVID among people of color are not being diagnosed. She has since been diagnosed with long COVID and can no longer work. Other infections such as Lyme disease can result in long-term symptoms, many of which overlap with long COVID.

☆ U.S. food benefits for poor to shrink as pandemic provisions end
▼ + stars: | 2023-02-16 | by ( Leah Douglas | ) www.reuters.com time to read: +4 min

The Republican-controlled U.S. House of Representatives may also pursue further cuts to food assistance to shrink the U.S. deficit. “It’s going to put millions of households at risk of hunger,” said Eric Mitchell, president of the Alliance to End Hunger. The changes mean cuts of about $82 a month beginning in March for recipients of Supplemental Nutrition Assistance Program (SNAP) benefits, said Ellen Vollinger of the Food Research & Action Center, an anti-hunger group. But in December’s spending bill fight, Congress negotiated a compromise to end them in February in exchange for a new summer food program for children. More than 76% of the current farm bill’s $428 billion price tag went to food assistance programs that serve 41 million people annually.

☆ American small business pessimism on recession, inflation, isn't relenting
▼ + stars: | 2023-02-09 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +10 min

That's according to the CNBC|SurveyMonkey Small Business Survey for the first quarter of 2023. The Q1 survey was conducted from Jan. 23-Jan. 30 among over 2,300 small business owners across the country. "Small business owners have a more difficult time gaining benefits of economies of scale," said Holly Wade, executive director of the NFIB Research Center, whose own recent surveying of small business owners finds persistent pessimism. The new CNBC|SurveyMonkey data finds 75% of small business owners saying they are still facing rising costs of supplies and just over half (51%) supply chain disruptions. Politics is a factor in Main Street outlook Politics plays a role in any small business survey, with a demographic that skews conservative.

☆ New Hampshire Governor Sununu 'definitely thinking' about White House run
▼ + stars: | 2023-02-05 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

[1/2] New Hampshire Governor Chris Sununu speaks at the "Curbing the Opioid Epidemic" session at the National Governors Association summer meeting in Providence, Rhode Island, U.S., July 13, 2017. Sununu, who has served as governor of the small New England state since 2017, underscored the need for new leadership. His father John Sununu, himself a former New Hampshire governor, served as White House chief of staff under Republican President George H. W. Bush from 1989 to 1991. Describing his political philosophy, Chris Sununu told ABC: "I'm kind of that 'live free or die' individual liberty. And we've done it really, really well here in New Hampshire."

☆ Brutal cold seizes northeast U.S., shattering record lows
▼ + stars: | 2023-02-04 | by ( Joseph Ax | ) www.reuters.com time to read: +3 min

The air temperature at the peak reached minus 47 degrees F (-44 C), with winds gusting near 100 miles per hour (160 kilometers per hour), according to the Mount Washington Observatory. In Providence, Rhode Island, the mercury dropped to minus 9 degrees F (-23 C), well below the previous all-time low of minus 2 degrees F (-19 C), set in 1918. Several cities took emergency measures to aid residents, including opening warming centers and conducting outreach to ensure homeless people were sheltered from the brutal cold. The frigid weather was expected to be short-lived, with temperatures forecast to be significantly higher on Sunday. The high temperature in Boston on Sunday will approach 47 degrees F (8.3 C), the NWS said.

☆ Concussions jump 18% but overall injuries down, says NFL
▼ + stars: | 2023-02-03 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

According to season-ending data compiled by the NFL, there were a total of 149 concussions suffered over 271 regular season games, representing a significant increase over 2021. Medical teams performed an average of 1.6 evaluations per game last season, while medical timeouts called by spotters and officials nearly doubled. "We are doing more evaluations than ever and we did change the protocol, becoming more conservative, and we had more medical timeouts and continue to emphasis player self report." While concussions were up the number of overall injuries was down 5.6%. Despite signs of a concussion, the Miami quarterback was allowed to return to the game after passing the league mandated protocol.

☆ Investors Don't Believe the Fed’s Inflation Plan. Here’s How We Know.
▼ + stars: | 2023-01-31 | by ( Dion Rabouin | ) www.wsj.com time to read: 1 min

E46Americans Lost $603 Billion by Sticking With Big Banks. Here’s How. Americans have missed out on $603 billion of free money over the last eight years by sticking with big banks like Wells Fargo and Bank of America. WSJ’s Dion Rabouin explains why people aren't moving their money in smarter ways and why they should be. Photo: Brian Snyder/Reuters

☆ Abuses Proliferate in Police Squads Like Memphis's Scorpion Unit
▼ + stars: | 2023-01-28 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +27 min

Street Crime Unit. Jon Naso/NY Daily News Archive via Getty ImagesMemphis police chief Davis also has prior experience with special street crime units. Street crime squads are popular among politicians who say only aggressive policing will reduce violent crime. In the late 1990s, the Street Crime Unit tripled in size, amid a panic over a rising number of homicides. In a city grappling with violent crime, authorities touted the Street Crime Unit as a bright spot.

President Joe Biden is searching for a replacement for National Economic Council (NEC) Director Brian Deese, who is expected to leave soon. Interviews are still ongoing to replace him, according to the sources who declined to discuss an ongoing personnel process. Biden's team is also starting to craft an economic message for his expected 2024 re-election campaign. But reducing high inflation became the administration's top economic priority last year as rising costs began to anger voters. She previously served as the Treasury's point person on international affairs during the Obama administration.

☆ How the Fed's Fight Against Inflation Could Hit Small Business
▼ + stars: | 2023-01-25 | by ( Dion Rabouin | ) www.wsj.com time to read: 1 min

☆ Economists Say the Fed Is Making Another Inflation Mistake. Here’s Why.
▼ + stars: | 2023-01-23 | by ( Dion Rabouin | ) www.wsj.com time to read: 1 min

☆ Abandoned shopping carts cost taxpayers thousands of dollars
▼ + stars: | 2023-01-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Abandoned shopping carts are a scourge to neighborhoods, as wayward carts block intersections, sidewalks and bus stops. There is no national data on shopping cart losses, but US retailers lose an estimated tens of millions of dollars every year replacing lost and damaged carts, say shopping cart experts. They pay vendors to rescue stray carts and fork over fines to municipalities for violating laws on shopping carts. “It is the shopping cart.” Another New York Times article in 1957 called the trend “Cart-Napping.”There’s even a book, “The Stray Shopping Carts of Eastern North America: A Guide to Field Identification,” dedicated to the phenomenon and a system of identification for stray shopping carts, much like guides for bird-watching. Coin-lock shopping cart systems are popular in Europe, and Poulos said more US companies are requesting coin-lock systems in response to the costs of runaway shopping carts.

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