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☆ Hawaii wildfires: More than 1,000 people reported missing in Maui weeks after blaze
▼ + stars: | 2023-08-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Law enforcement officials in Maui are racing to locate more than 1,000 people who are reported as missing, two weeks after the catastrophic wildfires began that destroyed the town of Lahaina. Maui County officials previously said 850 people were missing on Sunday. The FBI is helping the Maui Police Department go through multiple lists of missing persons from different agencies to determine who is truly unaccounted for. Law enforcement has located 1,400 people so far out of an initial number of 2,500 people reported missing, Merrill said. Search teams have gone through 100% of the single-story homes in Lahaina and are now combing multistory residential and commercial buildings in the disaster zone, according to Maui County officials.

Persons: Nicholas Bartel, Eddie Ruiz, Harper, Steven Merrill, John Pelletier, Merrill Organizations: Federal Bureau of Investigation, . Maui Police, FBI, Maui Police Department Locations: Lahaina, Maui, Maui County

In the aftermath of the Camp fire that destroyed Paradise, Calif., in 2018, the tally of the missing reached almost 1,300. But by releasing the names of the unaccounted for, the authorities were able to slowly whittle down the list. Of the more than 1,000 still missing in the Lahaina fire, officials from the county of Maui said they did not have any estimate of how many were presumed dead. They did say they had not identified any minors in official tallies of the missing. Classes at four schools on West Maui had been canceled the morning of the fires because of high winds and power outages, according to local news reports.

Persons: ” Steven Merrill, whittle Locations: ’, Honolulu, Maui, Calif, Lahaina, West Maui

☆ I’m a Credit Card Expert. This Is The Only Credit Card in My Wallet
▼ + stars: | 2023-08-18 | by ( Aaron Hurd | ) www.wsj.com time to read: +4 min

By Aaron HurdLike anyone who has ever paid for a luxury hotel room entirely with points or upgraded to business class with miles, I enjoy spending credit card rewards. In fact, credit card rewards have been a cornerstone of my finances since college. Eventually, I started blogging about travel rewards and now I write about credit card rewards for many well-recognized outlets. These days, I carry a slim-nylon surfer wallet containing only a Bank of America Unlimited Cash Rewards card. When I’m out and about, I no longer worry about which card I’m using and I’m earning an amount of rewards similar to what I would combining a 2% cash back credit card with numerous specialty rewards cards.

Persons: Aaron Hurd, there’s, Roth, Merrill Edge, Merrill Organizations: Bank of America, of America, Federal Reserve, Merrill Edge, Vanguard

☆ A Los Angeles Home That Channels the Magic of ‘Fantasia’
▼ + stars: | 2023-08-18 | by ( Max Berlinger | ) www.nytimes.com time to read: +1 min

By her own admission, the actor Anastasia Graff is a maximalist who loves “girlie things,” so it’s not altogether surprising that she wanted a periwinkle kitchen for her 1930s-era West Hollywood home. Still, such a bold choice could send some interior designers into a tailspin. Clad in white-painted wood siding with a wide porch, it had appealed to Graff because it reminded her of the traditional wooden homes on the East Coast, where she grew up. But it didn’t hurt that the place is part of local lore: It once belonged to the Russian-born composer and conductor Igor Stravinsky, who lived in Los Angeles from 1940 to 1969, while he conducted the L.A. Philharmonic both downtown and at the Hollywood Bowl. “You realize in Los Angeles, there’s a story behind every house,” says Graff.

Persons: Anastasia Graff, “, ”, Frances Merrill, Graff, ” Merrill, Igor Stravinsky, Merrill, gravitas, there’s, Marilyn Monroe’s Organizations: Hollywood Locations: East Coast, Russian, Los Angeles

☆ Market timing doesn't work, it's time in the market, says Merrill's Chris Hyzy
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket timing doesn't work, it's time in the market, says Merrill's Chris HyzyChris Hyzy, Merrill and Bank of America Private Bank chief investment officer, joins 'Closing Bell' to discuss yields and market correction.

Persons: Chris Hyzy Chris Hyzy Organizations: Bank of America Private Bank Locations: Merrill

☆ Maui wildfires: Woman says her husband is 'broken' by loss
▼ + stars: | 2023-08-16 | by ( Bill Weir | ) edition.cnn.com time to read: +3 min

Waiehu, Hawaii CNN —Two days before the Maui inferno, Brenda Keau’s husband Tony called his mom for a chat. The elderly woman’s home in Lahaina is gone, destroyed in the wildfires that swept across the Hawaiian island last week. And I don’t like seeing him like that because my husband is strong, loving,” Keau said. So I’m talking for him.”Keau said she feared arson when she saw smoke rising from the hills of upcountry Maui, from her home in Waiehu, in the north of the island on August 8. Evelio Contreras/CNNInland from Keau’s home, in the upcountry hills where she saw the smoke, a wildfire is still only 60% contained.

Persons: Brenda Keau’s, Tony, ” Keau, he’s, “, Evelio Contreras, ”, Keau, it’s, It’s, Kalopodes, Merrill Kalopodes, “ I’ve, ” Kalopodes Organizations: Hawaii CNN, CNN Investigations, CNN Inland, Maui County Fire Department, Volunteer, CNN Locations: Waiehu, Hawaii, Maui, Lahaina, upcountry Maui, Maui's upcountry, Maui County, Kula, Oahu

☆ MLB roundup: Max Scherzer, Rangers shut out Angels
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +6 min

[1/5] Aug 14, 2023; Arlington, Texas, USA; Texas Rangers starting pitcher Max Scherzer (31) pitches against the Los Angeles Angels in the fifth inning at Globe Life Field. Mandatory Credit: Tim Heitman-USA TODAY Sports/File photoAugust 15 - Max Scherzer allowed one hit over seven shutout innings as the Texas Rangers blanked the visiting Los Angeles Angels 12-0 on Monday night to open a three-game series. Marcus Semien hit a three-run homer and drove in five runs for the Rangers, who have won 11 of 13. Marlins 5, Astros 1Jorge Soler, Luis Arraez and Josh Bell hit home runs in consecutive eighth-inning at-bats as host Miami defeated Houston. Quinn Priester (2-2) gave up six runs on seven hits in five innings.

Persons: Max Scherzer, Tim Heitman, Marcus Semien, Adolis Garcia, Martinez, Patrick Sandoval, Dylan, Samad Taylor, Salvador Perez, Taylor, Julio Rodriguez, Brady Singer, Dominic Canzone, Singer, Jorge Soler, Luis Arraez, Josh Bell, Braxton Garrett, Framber Valdez, Grayson Rodriguez, Rodriguez, Gunnar Henderson, Ryan O'Hearn, Xander Bogaerts, Garrett Cooper, Ezequiel Tovar, Elehuris Montero, Matt Koch, Justin Lawrence, Christian Walker, Merrill Kelly, Kelly, Harold Ramirez, Curtis Mead, Christian Bethancourt, Tyler Glasnow, Yandy Diaz, Randy Arozarena, Jose Siri, Jacob Lopez, Tristan Beck, Daniel Vogelbach, Jonathan Arauz, Brandon Nimmo, Tyson Miller, Henry Davis, Ke'Bryan Hayes, Quinn Priester, Nicky Lopez, Lopez, Ozzie Albies, Albies, Jordan Walker's, Louis, Paul Goldschmidt, Esteury Ruiz, Seth Brown, Angel Felipe, JoJo Romero Organizations: Texas Rangers, Los Angeles Angels, Life, New York Mets, Rangers, Angels, Royals, Mariners, Kansas City, Seattle, Marlins, Astros, Miami, Houston, Orioles, Padres, Baltimore, Diamondbacks, Arizona, Rockies, Rays, Giants, Tampa Bay, San, Mets, Pirates, Pittsburgh, Braves, Yankees, Atlanta, Cardinals, Athletics, Oakland, Thomson Locations: Arlington , Texas, USA, Texas, Kansas, Seattle, San Diego, Colorado, Denver, San Francisco, New York

☆ Merrill: There's extreme investor interest in need-based assets like real estate
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMerrill: There's extreme investor interest in need-based assets like real estateChristopher Merrill, CEO of Harrison Street, discusses the best places to invest in the markets.

Persons: Merrill, Christopher Merrill Organizations: Harrison

☆ David Rosenberg doubles down on his recession call - and reveals the wild pushback he's faced
▼ + stars: | 2023-08-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

David Rosenberg is sticking with his recession call, despite many other experts backing down. In a client memo, he shared some of the extreme pushback he's received for his gloomy forecasts. David Rosenberg, a leading economist who called both the dot-com and housing crashes, remains fully convinced the US economy is headed for a recession. Recession indicators including the inverted yield curve, The Conference Board's Leading Economic Index, and the New York Fed's recession model are still flashing red. "The impatience and tempestuousness out there do not surprise me, either, having called the markets and the economy for nearly 40 years," he continued.

Persons: David Rosenberg, he's, Michael Burry, Warren Buffett, Merrill, Rosenberg, Merrill Lynch Organizations: Service, Internet, Conference, Biden, North Locations: Wall, Silicon, Houston, York, North American

☆ Meet Ted Pick, the hard-charging 'deal junkie' who rose to the top at Morgan Stanley the old-fashioned way — and looks poised to succeed James Gorman as CEO
▼ + stars: | 2023-08-01 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +20 min

Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Succession has traditionally been a bloody sport on Wall Street, and Morgan Stanley is no exception. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, Pick, Gucci loafers, Blackstone, Tony James, Morgan, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, Goldman, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, — Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long

☆ Famed economist David Rosenberg says the Fed's research team laughed at him in late 2007 when he warned them a recession was coming. He says the central bank is now on the verge of sparking another do
▼ + stars: | 2023-07-31 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Economist David Rosenberg told Insider that Fed employees laughed at his recession call in 2007. On October 9, 2007, shortly before the global economy plunged into recession, David Rosenberg delivered a presentation to economists and members of the research team at the Federal Reserve detailing why a downturn was coming. The Treasury yield curve is near its most inverted levels since the early 1980s. Here's the spread between the 3-month and 10-year Treasury yields. Then there's The Conference Board's Leading Economic Index, which is in recessionary territory, marked by the red lines below.

Persons: David Rosenberg, Rosenberg, Merrill Lynch, Mr, Louis Organizations: Federal Reserve, North, Conference, Fed, Federal, Rosenberg Research, Treasury, Federal Reserve Bank of St Locations: North American

☆ MLB roundup: Mets beat Nats for Justin Verlander's 250th win
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +11 min

Williams allowed five runs on seven hits and four walks while striking out two over four innings. Left-hander Tyler Anderson gave up one run on seven hits over 6 1/3 innings, and Carlos Estevez (5-1) earned the win. Yarbrough (4-5) needed just 78 pitches to complete seven innings, allowing a run on seven hits with five strikeouts and no walks. He allowed three runs on seven hits with six strikeouts and two walks as the Diamondbacks lost for the eighth time in 10 games. The Rangers pulled to within a run in the top of the sixth on Marcus Semien's two-run single off Padres reliever Nick Martinez.

Persons: Justin Verlander, John Jones, CJ Abrams, Pete Alonso, Trevor Williams, Francisco Lindor, Ildemaro Vargas, Williams, Joc Pederson, Tristan Beck, Patrick Bailey, Casey Schmitt, Brandon Crawford bunted, Mauricio Llovera, Justin Turner, Adam Duvall, Hunter Renfroe, Renfroe, Tyler Anderson, Carlos Estevez, Yimi Garcia, Whit Merrifield, Vladimir Guerrero Jr, Adam Frazier, Adley Rutschman, Anthony Santander's, Gunnar Henderson, Ryan O'Hearn's, Mike Baumann, Dean Kremer, Luis Severino, Matt Olson, Milwaukee . Olson, Joel Payamps, Austin Riley, Marcell Ozuna, Ronald Acuna Jr, Kirby Yates, Christian Yelich, Carlos Santana, William Contreras, Josh Palacios, Bryan Reynolds, Angel Perdomo, Andrew Vasquez, Alec Bohm, Bryce Harper, Cristopher Sanchez, Garrett Cooper, Jean Segura, Avisail Garcia, Jorge Lopez, David Robertson, Miguel Cabrera, Kerry Carpenter, Ryan Yarbrough's, Yarbrough, Freddy Fermin, Kenta, Matt Wallner, Maikel, Josh Lowe, Brandon Lowe, Zack Littell, Kyle Tucker, Alex Bregman, Brandon Bielak, Jose Ramirez, Aaron Civale, Ramirez, Luis Robert Jr, Tim Anderson, Yoan Moncada, Andrew Vaughn, Michael Kopech, Steven Matz, Giovanny Gallegos, JoJo Romero, Louis, Matz, Tyler O'Neill, Andrew Knizner, Paul Goldschmidt, Kyle Hendricks, Ryan McMahon, Ty Blach, Nolan Jones, Justin Lawrence, Ramon Laureano, Elly De La Cruz, Matt McLain, Joey Votto, De La Cruz, Graham Ashcraft, Freddie Freeman, J.D, Martinez, Will Smith, Michael Grove, Luis Castillo, J.P, Crawford, Castillo, Merrill Kelly, Gary Sanchez, Blake Snell didn't, Sanchez, Jose Leclerc, Brock Burke, Marcus Semien's, Nick Martinez, Josh Hader, Hader, Josh Jung Organizations: New York Mets, Washington Nationals, Citi Field, USA, Nationals, Giants, Red Sox, San Francisco, Boston, Blue Jays, Los Angeles, Toronto, Angels, Orioles, Yankees, New, Baltimore, Santander, Braves, Brewers, Atlanta, Milwaukee, Pirates, Phillies, Pittsburgh, Philadelphia, Marlins, Tigers, Miami, Royals, Kansas City, Minnesota, Rays, Astros, Tampa Bay, Houston, White Sox, Cleveland, Chicago, Cardinals, Cubs, Rockies, Athletics, Colorado, Oakland, Dodgers, Reds, Cincinnati, Los, Mariners, Diamondbacks, Arizona, Padres, Rangers, San, Texas, Thomson Locations: New York City , New York, USA, San, New York, Milwaukee, Detroit, Denver, Los Angeles, Seattle, Phoenix, Arizona, Diego, Texas, San Diego, Nick Martinez . Texas

☆ The Dow's latest winning streak is bad news for stocks - and a recession might be underway, top economist David Rosenberg says
▼ + stars: | 2023-07-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Dow's recent winning streak is a worrying sign, David Rosenberg says. Rosenberg says a recession may be underway, and plunging inflation can be bad news for stocks. For the first time since January 1987, the Dow Jones Industrial Average closed in the green for 13 straight sessions before snapping its winning streak on Thursday. Stocks were up 28% at this point in 1987, Rosenberg noted. Rosenberg cautioned investors who expect stocks to soar because inflation has now slowed.

Persons: David Rosenberg, Rosenberg, Stocks, Merrill Lynch Organizations: Service, Dow Jones, Dow, Rosenberg Research, Federal, North Locations: Wall, Silicon, North American

☆ What Is an Expense Ratio?
▼ + stars: | 2023-07-24 | by ( E. Napoletano | ) www.wsj.com time to read: +8 min

The easiest way to think of the expense ratio is the fee you pay to the portfolio manager of your mutual fund. When you invest in an ETF or mutual fund, the fund’s prospectus will state its expense ratio. How expense ratios impact investment returnsBefore you can look at how expense ratios impact your investment returns, it helps to understand what an average expense ratio looks like. While the average active stock fund’s expense ratio was 0.66% in 2022, the average bond fund charged just 0.44%, according to ICI. Remember: It should be easy to find the fund’s expense ratio.

Persons: it’s, Chloe Wohlforth, Russell, Warren Buffett, Peter Lynch —, Merrill Lynch, Morgan Stanley, Justin McCurdy, “, ”, you’re, McCurdy Organizations: Investment Company Institute, ICI, BuySide, SEC, Morningstar Locations: —, New York, U.S, Angeles

☆ ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings.
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

ChatGPT excelled at predicting a stock's price direction based on news sentiment. They found that while ChatGPT excelled at predicting a stock's direction based on news sentiment, it is not without limitations. They prompted ChatGPT to assign the following scores to headlines: "1" for good news, "0" for unknown and "-1" for bad news. Is this headline good or bad for the stock price of (company name) in the term (short or long-term)?" This meant negative news had a greater and longer impact in the real world than in the simulation,, likely giving ChatGPT an advantage, Lopez-Lira noted.

Persons: ChatGPT, Bard, Alejandro Lopez, Yuehua Tang, Merrill Lynch, Lopez, Lira, Tang, Russell, BERT, Philip Morris, Gene Tipps, David Capablanca, Alpesh Patel, Praefinium, Patel, Capablanca, GPT's, it's, Cory Mitchell, would've, Mitchell, you'll, they're Organizations: University of Florida, of Florida's Department, Finance, Lira, Center for Research, Linux, NYSE, Nasdaq, GPT, Design, Cadence Design, Philip Morris Beats, Global, Global Operations, Dow Locations: GPT

☆ Opinion: The time North Korea entrapped an 85-year-old American tourist
▼ + stars: | 2023-07-20 | by ( Opinion Mike Chinoy | ) edition.cnn.com time to read: +13 min

CNN —In October 2013, an 85-year-old American tourist, Korean War veteran Merrill Newman, was taken off his Air Koryo plane as he waited to leave Pyongyang after a week-long tourist trip to North Korea and detained. No one — his family, the State Department, the media — had any idea why, and the North Koreans initially said nothing. North Korea has so far said nothing about the incident, which comes amid a spike in tensions between Pyongyang, Washington and Seoul. American tourist and Korean War veteran Merrill Newman arrives at Beijing airport on December 7, 2013, after being released by North Korea. Over the decades, a handful of serving American soldiers have defected and been allowed to live in North Korea.

Persons: Mike Chinoy, Read, CNN —, Merrill Newman, —, Mike Chinoy Mike Chinoy, Newman, Travis King, darted, ” —, “, ” Newman, ”, “ I’ll, …, Mike Chinoy “, ‘, ’, It’s, Merrill Newman “ I’d, They’ve, Karl, Olof Andersson, Merrill, Andersson, Kim Jong, ” Merrill Newman, Lee Organizations: University of Southern, China Institute, Beijing Bureau, Senior Asia, CNN, Koryo, State Department, North, Communist Korean, Palo, Joint Security Area, Kyodo, DPRK, Korean People’s, Socialist DPRK, ”, Korean, North Koreans, Koreans, Twitter, Facebook Locations: University of Southern California’s US, Beijing, North Korea, Pyongyang, Kuwol, Korean, Palo Alto California, North, South Korea, Korea, Washington, Seoul, American, Korean People’s Army, DPRK, USA, North Koreans, Merrill, North Korea's, KCNA, North Korean, Swedish

☆ A top economist says the stock-market mania reminds him of the dot-com and housing bubbles - and warns consumers are feeling the squeeze
▼ + stars: | 2023-07-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

David Rosenberg warned the buzz around stocks today is similar to the mania before past crashes. The economist noted that American consumers are running short of cash and struggling to borrow more. The veteran economist and Rosenberg Research president also rang the alarm on the US economy in a research note on Wednesday. "The balloon does have a lot of hot air in it," Rosenberg noted, suggesting it was hard to say when speculation and emotion would cease trumping fundamentals and rational thought. That has raised borrowing costs for consumers and businesses, and wreaked havoc on debt-fueled industries such as commercial real estate.

Persons: David Rosenberg, Rosenberg, Irving Fisher, Abby Joseph Cohen, Chuck Prince's doozy, you've, Merrill Lynch Organizations: Service, Rosenberg Research, North, Nasdaq, Dow Jones, Big Tech, Consumers, New York, Federal Reserve Locations: Wall, Silicon, North American

☆ Goldman brings back Tom Montag as CEO Solomon bolsters board support
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File PhotoJuly 20 (Reuters) - Goldman Sachs (GS.N) has brought back to its fold senior executive Tom Montag, adding him to its board as the Wall Street giant looks to regain lost ground after its ill-fated foray into consumer banking. Considered to be an ally of CEO David Solomon, Montag could bolster support for the chief executive, who is looking to undo the damage from the company's high-profile flop in retail banking. "Tom brings extensive financial services and risk management experience, with over 35 years in the industry," Solomon said. "He has incredible perspective regarding the complex financial and non-financial risks that large global financial institutions face."

Persons: Goldman Sachs, Andrew Kelly, Tom Montag, Montag, David Solomon, Goldman, Tom, Adebayo Ogunlesi, Merrill Lynch, Solomon, writedowns, Saeed Azhar, Niket, Manya, Arun Koyyur, Lananh Nguyen Organizations: REUTERS, Reuters, Bank of America, Rubicon, TPG, Manya Saini, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

[1/5] A Domino's staff member stands next to a sign for a 49-rupee pizza at a restaurant in Noida, India, July 4, 2023. A: With the world's cheapest Domino's pizza. "You are coming to the store or open the app, because there is a 49-rupee callout," he said, adding that Domino's global team supported the plans. Domino's global HQ referred queries about India to its local franchisee. When Khetarpal visited Domino's stores in Chennai and other cities, he said he saw customers emptying out their pockets and only being able to scrape together 49 rupees.

Persons: Adnan Abidi, Sameer Khetarpal, Khetarpal, Merrill Pereyra, They'll, Akshay Jatia, Westlife, It's, Devanshu Bansal, Kiran Raj, Praveen Paramasivam, Aditya Kalra, Saurabh Sharma, Jatindra, Brenda Goh, Hilary Russ, Abhirup Roy, Miyoung Kim, Pravin Organizations: REUTERS, U.S, India, Sapphire Foods, Domino's, Burger King's, Restaurant Brands, Euromonitor, Yum Brands, Global Financial Services, Pravin Char, Thomson Locations: Noida, India, CHENNAI, DELHI, America, Shanghai, San Francisco, Burger, zeroing, Pizza, New Delhi, Chennai, Burger King's India, United States, U.S, Lucknow, Bhubaneswar, New York, Singapore

☆ Italy's Banco BPM enters payments deal with Gruppo BCC Iccrea and FSI
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: 1 min

July 14 (Reuters) - Italy's third-largest bank Banco BPM (BAMI.MI) said on Friday it agreed together with Gruppo BCC Iccrea and domestic private equity fund FSI to create the country's second largest player in the payments business. FSI, founded by former Merrill Lynch banker Maurizio Tamagnini, and unlisted bank Iccrea jointly run the BCC Pay payments business. Banco BPM partners with NEXI (NEXII.MI), Europe's biggest payments company by volume of transactions. On completion of the deal, Banco BPM said it and Iccrea will control 28.6% each of Pay Holding - which controls BCC Pay - and FSI will hold 43%. The venture will have a domestic market share of more than 10%, Banco BPM said.

Persons: Merrill Lynch, Maurizio Tamagnini, Baranjot Kaur Organizations: Banco, Gruppo BCC Iccrea, Pay, Thomson Locations: Bengaluru

☆ Merrill Lynch to Pay $12 Million for Failing to File Hundreds of Suspicious Activity Reports
▼ + stars: | 2023-07-12 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/merrill-lynch-to-pay-12-million-for-failing-to-file-hundreds-of-suspicious-activity-reports-227cdb07

Persons: Dow Jones, merrill, 227cdb07

☆ AI can't even tell you the chronological order of 'Star Wars' movies
▼ + stars: | 2023-07-12 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

A recent article on the "Star Wars" films had numerous errors, The Washington Post reported. The story was one of five articles published using Google's Bard and OpenAI's ChatGPT technologies as the outlet pilots new AI initiatives, a representative of Gizmodo told Insider. These will all be designed to complement our journalism and give our editorial teams new tools to serve our audiences." Gizmodo reporters weren't the only ones angered at the flub — readers, too, expressed their dissatisfaction with the AI creation. At the same time, outlets — including Insider — have announced new initiatives to experiment with AI, with editorial procedures in place meant to prevent errors from being published.

Persons: Gizmodo, James Whitbrook, George Lucas, Whitbrook, Google's Bard, Merrill Brown, Brown, Slack, Claire Lower, LifeHacker, — Brown, Jim Spanfeller, Lea Goldman —, — Organizations: Washington Post, Intelligence, GMG Union, Gizmodo, Twitter, NPR

☆ Uber CFO Nelson Chai plans to step down - Bloomberg News
▼ + stars: | 2023-07-10 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )(Reuters) -Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter. Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report. Chai was brought in at Uber as finance chief in 2018 and he shepherded the company through its IPO a year later. Before Uber, Chai had served in senior roles at the New York Stock Exchange, Merrill Lynch and CIT Group. Uber is cutting costs even as it rides an upswing in its business as commuters return after COVID restrictions eased.

Persons: Nelson Chai, Chai, Uber, Dara Khosrowshahi, hasn’t, Uber’s, Merrill Lynch Organizations: Technologies, Bloomberg, Uber, New York Stock Exchange, CIT Locations: Postmates

☆ Our belief is there are two more rate hikes from here, says Merrill's Matthew Diczok
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur belief is there are two more rate hikes from here, says Merrill's Matthew DiczokMatthew Diczok, head of fixed income strategy for the chief investment office at Merrill and Bank of America Private Bank, joins 'Squawk Box' to discuss the Fed's rate hike campaign, inflation, and more.

Persons: Matthew Diczok Matthew Diczok Organizations: Bank of America Private Bank Locations: Merrill

☆ How AI reshapes the economy: Wall Street legends David Rosenberg and Rob Arnott told us massive upheaval is coming for the job market — and overzealous investors are fueling a stock bubble
▼ + stars: | 2023-07-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Both David Rosenberg and Rob Arnott see big disruption coming for the labor market. AI stocks are also overextended amid the current mania, they said. Rob Arnott says AI will evolve rapidly and upend the labor market. He added: "The implications of generative AI on the labor market will be one of upheaval and one of escalating job uncertainty." Beware of an AI-stock bubbleFor Arnott, AI will undoubtedly be good for bottom lines.

Persons: David Rosenberg, Rob Arnott, Rosenberg, Arnott, Tim Boyle, aren't, Merrill Lynch, it's, Tesla, that's, Gluskin Sheff Rosenberg Organizations: Labor, Research, Bloomberg, Getty, North, Rosenberg Research Locations: North American, ChatGPT

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