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☆ The retail and warehouse labor shortage just won't quit. Here's the 14-page pitch deck warehouse robotics startup Exotec used to raise a $335 million Series D to help.
▼ + stars: | 2023-04-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Check out the 14-page pitch deck below. When people are scarce, robotics startups get a boost. And retailers remain keen to spend on anything that can combat a labor shortage that just won't quit. Here's the pitch deck that reeled in its latest funding round. Exotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck ExotecExotec pitch deck Exotec

☆ A dozen fake Easter eggs in dying kits from Walmart and Target are cheaper on average than a dozen real ones
▼ + stars: | 2023-04-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Egg prices are off of their January peak, but a dozen still costs more than $4, inflation numbers show. With Easter approaching, fake-egg dye kits from Walmart and Target may be cheaper than the real thing. The high cost of eggs led one of the largest dollar-store chains to decide not to carry them for now. (Actual egg prices vary substantially by geography. Easter decorators aren't the only ones adjusting their plans due to the still-high cost of eggs this spring.

☆ Jobless claims edge up to 198,000, higher than expected
▼ + stars: | 2023-03-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Initial filings for unemployment insurance ticked higher last week but remained generally low in a tight labor market. Jobless claims for the week ended March 25 totaled 198,000, up 7,000 from the previous period and a bit higher than the 195,000 estimate, the Labor Department reported Thursday. Though the number was slightly higher than expectations, the total indicates that companies are slow to lay off workers despite expectations that the unemployment rate will rise through the year. According to estimates last week, central bankers expect the unemployment rate to rise to 4.5% this year, from its current 3.6% level. Markets reacted little to the fresh batch of data, with futures pointing to a higher open on Wall Street.

Biden's 2024 race will be different, aides and Democratic party officials say. The race to host the party convention is now down to two cities, sources say: Chicago and Atlanta. Chicago's pull is rooted in tradition, deep-pocketed donors and union ties, while Atlanta's appeal reflects the power of Georgia's grassroots networks and the importance to the party of Black voters and a racially diverse electorate. Top Democratic political officials in eight Midwestern states wrote Biden last week to push for a Chicago convention. CHICAGO, UNION TOWNHolding the convention in Chicago would put Biden in a Democratic powerhouse, where the party controls the legislature and executive branches.

☆ Exclusive: Walmart laying off hundreds of US workers at five e-commerce fulfillment centers
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, March 23 (Reuters) - Hundreds of workers at five U.S. Walmart facilities that fulfill e-commerce orders are being asked to find jobs within 90 days at other company locations, a spokesperson confirmed to Reuters. The layoffs at Walmart, a retail bellwether because of its size, could be a harbinger of further turmoil in the U.S. economy, which many economists predict could enter recession this year. Walmart is the largest private employer in the United States with about 1.7 million U.S. workers. Apart from Pedricktown, New Jersey, Walmart did not post a Worker Adjustment and Retraining Notification (WARN) notice for the layoffs, according to a Reuters review of labor government data. This, however, still lagged Target and Amazon, which pay workers a starting wage of at least $15 per hour.

☆ Dyeing Easter eggs? The fake ones are cheaper than the real thing at Target and Walmart as egg prices soar
▼ + stars: | 2023-03-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Egg prices are off of their January peak, but a dozen still costs more than $4, inflation numbers show. With Easter approaching, fake-egg dye kits from Walmart and Target may be cheaper than the real thing. The high cost of eggs led one of the largest dollar store chains to decide not to carry them for now. (Actual egg prices vary substantially by geography.) Easter decorators aren't the only ones adjusting their plans due to the still-high cost of eggs this spring.

The inflation rate in January actually rose, while an Atlanta Fed real-time projection as of March 8 showed gross domestic product expanding at a 2.6% annual rate, well above the economy's roughly 2% underlying potential. As of December the high point for the target federal funds rate was expected by most officials to be 5.1%. Government reports released after Powell's last press conference showed the central bank's preferred measure of inflation had risen slightly to a 5.4% annual rate. It is not the first time the Fed has been caught out by after-the-fact data updates. And Powell is trying to be nimble," said former Fed economist John Roberts.

☆ Police, protesters clash at site of Atlanta police center; 35 arrested
▼ + stars: | 2023-03-06 | by ( Daniel Trotta | ) www.reuters.com time to read: +3 min

March 5 (Reuters) - Fires broke out at the construction site of an Atlanta police training center on Sunday after a demonstration at the property led to clashes between police and protesters and 35 people were arrested, police said. Opponents of the site say they want to save an important green space near the greater Atlanta metropolitan area of 6 million people. "We call on all people of good conscience to stand in solidarity with the movement to stop Cop City and defend the Weelaunee Forest," reads a statement on a website called Defend The Atlanta Forest. With more events planned in coming days, Atlanta police said they and other law-enforcement agencies had "multi-layered strategy that includes reaction and arrest." Demonstrators at that time gathered to protest against the killing by law enforcement of an activist during a raid to clear the construction site.

"We've been talking about impending recession for several quarters now," said Malone, whose Virginia Beach-based company has a national footprint. So has unexpectedly strong consumer spending and, for the world outlook, the reopening of China's economy from strict COVID lockdowns. That poured cold water on the idea that the Fed would "pivot" on a dime to lower rates. "Government bond yields are up" since the last Fed policy meeting, Durham wrote. "It kind of seems the U.S. economy might be more resilient than markets thought six or eight weeks ago."

☆ Some companies have used a legal loophole to avoid paying overtime by giving workers exaggerated job titles
▼ + stars: | 2023-02-23 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Companies are getting away with not paying their workers for overtime, a new NBER paper shows. That's because of a loophole in federal law where employers don't have to pay managers overtime. Companies have also been cutting pay for other workers by classifying them as contractors. That loophole involves misclassifying workers as managers, even if they don't have actual managerial duties. They weren't getting paid for overtime, and an Atlanta court awarded them $35 million in addition to unpaid overtime.

☆ Georgia special grand jury wants multiple indictments for Trump's efforts to overturn 2020 election: 'It's not rocket science'
▼ + stars: | 2023-02-21 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

The Georgia special grand jury that probed efforts to overturn the 2020 election wanted criminal charges against multiple people. Its forewoman told The New York Times "it's not rocket science" when asked if Trump was on the list. Fulton County DA Fani Willis must now decide whether to bring criminal indictments to a regular grand jury. Fulton County District Attorney Fani Willis empaneled the special grand jury between May and January. The special grand jury did not have the power to bring criminal indictments but created a report with charging recommendations.

While the Fed settled for a quarter-percentage-point rise, it also said "ongoing increases" would push the policy rate as high as needed. Recent data also showed inflation continuing to slow, though by less than expected. Today's 4.5%-4.75% policy rate is its highest since the eve of the housing crisis in 2007. "I don't see that indicating to me that we're slowing the economy," Fed Governor Michelle Bowman said of recent data, including strong retail sales and job growth. Richmond Fed's Barkin, by contrast, said he took little "signal" from recent data, anticipating inflation would continue falling.

☆ Microsoft and Google promised to invest in these communities. Now they’re backtracking
▼ + stars: | 2023-02-14 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Hyosub Shin/The Atlanta Journal-Constitution/ZUMA Press WireFacebook-parent Meta, Microsoft, Salesforce and Snap have each shuttered offices or announced plans to cut back on real estate, according to recent corporate announcements, filings and local news reports. But residents also had cautious optimism about the benefits Microsoft promised to the community, according to Hope. Hope’s community isn’t alone in confronting the whiplash of Silicon Valley’s real estate pullback. An office sits vacant on October 27, 2022 in San Francisco, California. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home.

☆ Dry clean your clothes in this climate startup's vending machine
▼ + stars: | 2023-02-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Dry cleaning is not only costly for consumers, it's costly to the environment as well. While some industrial dry cleaners are opting for greener chemicals, others are looking to change the whole business model. Presso is an Atlanta-based startup that invented what looks like a vending machine for dry cleaning, but its process is a little different. The process, however, takes only a few minutes and can cost up to 80% less than traditional dry cleaning, depending on the garment. None of the process of even doing logistics inside a dry cleaning facility, none of that exists anymore," said Jain.

☆ Judge Orders Parts of Georgia Grand-Jury Report on Trump Election Probe to Be Made Public
▼ + stars: | 2023-02-13 | by ( Jan Wolfe | ) www.wsj.com time to read: 1 min

Former President Donald Trump lost in Georgia by about 12,000 votes in the 2020 election. An Atlanta judge on Monday said he would make public excerpts of a report written by the special grand jury that investigated former President Donald Trump’s efforts to overturn the 2020 election in Georgia. In a written order, Fulton County Superior Court Judge Robert McBurney said some excerpts of the report are “ripe for publication” and would be made public on Feb. 16. The excerpts that will be made public include a section in which “the special purpose grand jury discusses its concern that some witnesses may have lied under oath,” according to the judge’s order.

☆ Witnesses who testified in front of the Georgia grand jury investigating Trump 'may have lied under oath,' judge says
▼ + stars: | 2023-02-13 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

Witnesses "may have lied under oath" to a Georgia special grand jury investigating Trump's efforts to overturn election results. A judge said he'll release a portion of a secret report detailing the special grand jury's findings. On Monday, Fulton County Superior Court Judge Robert McBurney ordered the release of portions of a special grand jury report, including a section "in which the special purpose grand jury discuss its concern that some witnesses may have lied under oath." In January, the special grand jury completed a report summarizing its findings. Those three portions, McBurney wrote, include the report's introduction, conclusion, and a section where the special grand jury discusses whether witnesses lied under oath.

“And a lot of times, it was the Black officers who beat us worse than white officers,” Jones, 48, said. Some of these Black officers are good guys that came from rough neighborhoods, too. And for no reason.”Jones and other Black Memphis residents have shared a range of reactions to seeing five Black faces as the alleged perpetrators of Nichols’ fatal beating with NBC News. “I can’t be surprised because it’s a predominantly Black part of town with Black officers patrolling,” said Barbara Johnson, 75, and a grandmother. He said a police officer friend alerted him of Nichols’ death before it was made public.

☆ 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.

What began as a peaceful protest and vigil in Atlanta honoring a slain activist ended in property damage and several arrests on Saturday. The chaotic night came after nearly two years of organizers and activists imploring city leaders, raising awareness and protesting the city’s plans to build a sprawling police training center in a forest near Atlanta. We went through City Council, we’ve taken the legislative route, we’ve done tons of advocacy, we’ve sent in letters, and all we’ve been responded with is force,” said Matthew Johnson, a supporter of Defend the Atlanta Forest, one of the movements opposing plans for the new Atlanta Public Safety Training Center. It has become the focus of protests in several cities across the country to “Stop Cop City.” In recent weeks police shot and killed an activist, demonstrators destroyed property, and several protesters were arrested and face steep charges. Here is how the tension over Atlanta’s “Cop City” reached a boiling point.

NEW YORK, Jan 26 (Reuters) - Soccer's world governing body FIFA prevailed in a U.S. appeals court over a former Nigeria national team coach seeking to overturn his lifetime ban, later reduced to five years, for fixing matches. Circuit Court of Appeals in Manhattan said Samson Siasia did not show why a trial court in New York had jurisdiction over his case. FIFA had in 2019 imposed the lifetime ban, saying Siasia violated its code of ethics over a bribery scheme for Australian matches. Siasia, an Atlanta resident and former Nigeria striker, sued FIFA in August 2021, saying the evidence was "grossly insufficient" and that the ban violated his due process rights under the U.S. Constitution. In June 2021, the Court of Arbitration for Sport shortened the ban, calling it too severe for a first offense.

☆ Atlanta DA doesn't want the public to see the special grand jury report into Trump's efforts to overturn Georgia's 2020 vote
▼ + stars: | 2023-01-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

A special grand jury spent months investigating whether Trump and other officials criminally interfered in Georgia's 2020 election. In an Atlanta courthouse, Fulton County District Attorney Fani Willis said the report, from a special grand jury, should not be released "at this time." McBurney dissolved the special grand jury earlier this month. They typically sit for a maximum of two months, and would review the deposition transcripts and other evidence already gathered by the special grand jury. "That was the approach when she initiated the special grand jury last year."

☆ Matt Schlapp slapped with a lawsuit after an allegation of fondling a GOP operative
▼ + stars: | 2023-01-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan-Allen-Circle-Byline-Template.Jpg | Jonathan Allen | ) www.nbcnews.com time to read: +5 min

In an interview with NBC News earlier this month, the operative said Schlapp invited him to meet at an Atlanta bar. As the operative drove Schlapp to a hotel near the Atlanta airport at the end of the night, Schlapp put his hand on operative's leg, the operative said. Eventually, the operative said in a video he recorded later that night, Schlapp "grabbed my junk and pummeled it at length." When Schlapp texted to say he was in the lobby ready to be driven, the operative replied with language suggested by campaign officials. I would appreciate it,” Schlapp texted, according to the suit.

☆ Treasury yields rise as investors look to Fed speakers for hints about rate policy plans
▼ + stars: | 2023-01-10 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury was up by more than two basis points to 3.5448% at 4:31 a.m. The 2-year Treasury was last trading at around 4.2263% after rising by over two basis points. Treasury yields climbed on Tuesday as investors weighed remarks from Federal Reserve officials and scanned them for hints about the central bank's monetary policy plans. Investors looked to comments from Fed officials for fresh insights into the central bank's expectations for inflation and interest rate hikes. At its December meeting, the central bank slowed the pace of rate increases to 50 basis points.

☆ A Georgia special grand jury finished its report into Trump's attempts to overturn 2020 election results. Another grand jury has to decide whether to indict him.
▼ + stars: | 2023-01-09 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

A Georgia special grand jury finished its report on Donald Trump's alleged 2020 election interference. The special grand jury recommended making its report public. The 26-member special grand jury had the power to subpoena evidence and witnesses, but not to bring indictments. Now, Willis must decide whether to send that report to another grand jury, which will decide whether to bring criminal indictments. Willis has moved swiftly and fought court battles to enforce the grand jury's subpoenas and bring a parade of high-profile witnesses before the special grand jury, including Gov.

☆ 2022 was the worst-ever year for U.S. bonds. How to position your portfolio for 2023
▼ + stars: | 2023-01-07 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Interest rates started 2022 at rock-bottom — where they'd been for the better part of the time since the Great Recession. Bond prices move opposite interest rates — as interest rates rise, bond prices fall. Duration is a measure of a bond's sensitivity to interest rates and is impacted by maturity, among other factors. We can see why long-dated bonds suffered especially big losses in 2022, given interest rates jumped by about 4 percentage points. The traditional dynamics of a 60/40 portfolio — a portfolio barometer for investors, weighted 60% to stocks and 40% to bonds — will likely return, advisors said.

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