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☆ Blackface, booze, and blurred lines at the $2 billion tech firm Rokt
▼ + stars: | 2023-03-16 | by ( Jack Newsham | Madeline Stone | ) www.businessinsider.com time to read: +25 min

A cropped version of an image shared with Rokt employees at the 2020 meeting. Buchanan told Insider. "We think it's important that we stand up and fight it," he told Insider when asked about that message. In an email, Viles told Insider that he hasn't had any day-to-day involvement with Rokt since 2020, when he did some contract work. Mert Alper Dervis/Anadolu Agency via Getty ImagesOne employee told Insider they were encouraged to post the photos and proclaim 2023 to be Rokt's "best year yet."

☆ S&P 500 futures are flat following a volatile session on Wall Street: Live updates
▼ + stars: | 2023-03-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were mixed on Wednesday night after investor fears of a widespread banking crisis led to a volatile trading session. Dow Jones Industrial Average futures fell by 29 points, or 0.09%. S&P 500 futures were down just 0.03%, while Nasdaq 100 futures climbed 0.14%. During the regular trading session, the Dow at one point fell 725 points before ending the day down by 280.83 points, or 0.87% lower. The S&P 500 dropped 0.7%, and the tech-heavy Nasdaq Composite edged 0.05% higher.

Circuit Court of Appeals unanimously ruled that Bayada Home Health Care Inc did not violate federal wage law by docking salaried employees' paid time off, or PTO, when they did not work required weekly hours. The case marked the first time that a U.S. appeals court was asked whether paid time off counts as part of an employee's salary. The question is important because salaried workers can become eligible for overtime pay if employers make deductions from their wages. A group of Bayada employees, including nurses, physical therapists and social workers, sued the company in Scranton, Pennsylvania federal court in 2016. Circuit Court of Appeals, No.

So You Want to Turn an Office Building Into a Home? There’s an appealing simplicity to the idea of converting office buildings into housing. Basically, they did this:How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. That could change with tax abatements and subsidy programs, or if outdated office buildings lose so much value that the cost of acquiring them plummets.

☆ Analysis: Bankman-Fried's bid to shift blame complicated by new charges
▼ + stars: | 2023-03-08 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

Former FTX technology chief Gary Wang and Caroline Ellison, formerly the CEO of Bankman-Fried's Alameda Research hedge fund, had each previously pleaded guilty and are cooperating. Bankman-Fried previously pleaded not guilty to stealing billions of dollars in FTX customer funds to plug losses at Alameda. The 31-year-old former billionaire and his lawyers have suggested they will attempt to shift blame onto Ellison and dispute her expected testimony at his Oct. 2 trial. In unveiling the new charges in a superseding indictment, prosecutors dismissed the idea that Bankman-Fried was in the dark about his former colleagues' crimes. Despite the hurdles, experts said Bankman-Fried will still likely dispute that he knew former members of his inner circle were breaking the law, Kasten said.

☆ US senators reintroduce bill to make daylight saving time permanent
▼ + stars: | 2023-03-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 2 (Reuters) - A bipartisan group of 12 U.S. senators on Thursday reintroduced legislation that would make daylight saving time permanent, nearly a year after the Senate voted unanimously to end clock switching. But the bill failed to get a vote last year in the U.S. House of Representatives because lawmakers could not agree on whether to keep standard time or permanent daylight saving time, said Representative Frank Pallone. Some sleep experts say daylight savings time makes it harder to be alert in the morning. Daylight saving time has been in place in nearly all of the United States since the 1960s after being first tried in 1918. The bill would allow Arizona and Hawaii, which do not observe daylight saving time, to remain on standard time.

☆ Stock futures slip after investors wrap up a losing February: Live updates
▼ + stars: | 2023-02-28 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Stock futures inched down as investors came off a losing month. Futures tied to the Dow Jones Industrial Average lost 70 points, or 0.2%. S&P 500 futures slid 0.3%, while Nasdaq-100 futures dipped 0.4%. Investors will watch for economic data on construction and manufacturing coming after the market opens Wednesday. Consumer-focused companies including Lowe's and Kohl's are set to report before the bell.

☆ Progress Shark, a 32-foot model of a great white wearing a rainbow leotard, is the breakout star of WorldPride in Sydney, Australia
▼ + stars: | 2023-02-19 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

A 32-foot model of a great white shark has become the unexpected mascot of WorldPride. It's been decked out in the colors of the Progress flag to mark WorldPride being held in Sydney. Even before it was officially unveiled on February 8, Progress Shark had become a viral sensation after Sydney WorldPride released a computer-generated preview. The Australian Museum tweeted that it was "blown away by all of the love" being shown for Progress Shark. Progress Shark now has its own fan account on Instagram — and it's sparked memes, fan-art, stickers, and even a miniature knitted version.

☆ Biden administration is making a big change to student loan repayment. What borrowers need to know
▼ + stars: | 2023-02-15 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

Currently, after 20 years of payments on undergraduate student loans, any leftover debt is forgiven on the existing REPAYE Plan. However, under the Biden administration's proposal, those with original student loan balances of $12,000 or less may get their loans forgiven after just 10 years. watch nowPreviously, a borrower who made $40,000 a year would have a monthly student loan payment of around $151. The new option should be available to borrowers with undergraduate and graduate student loans, although undergraduate borrowers will have lower payments. Once the new REPAYE Plan is available, borrowers can call their student loan servicer to enroll in the option, or apply at StudentAid.gov.

The richest Black mothers and their babies are twice as likely to die as the richest white mothers and their babies. Yet there is one group that doesn’t gain the same protection from being rich, the study finds: Black mothers and babies. The researchers found that maternal mortality rates were just as high among the highest-income Black women as among low-income white women. The richest Black women have infant mortality rates at about the same level as the poorest white women. Generally, rates for Hispanic mothers and Asian mothers track more closely with those of white mothers than Black mothers.

☆ Perfect Storm for Some Companies: Fewer Interest Deductions, Rising Rates
▼ + stars: | 2023-02-06 | by ( Mark Maurer | ) www.wsj.com time to read: +9 min

For some firms, the move shrank the amount of taxable income that can be offset by interest expenses. Higher interest rates generally lead to higher interest expenses tied to companies’ variable-rate debt, new borrowings and refinancings. The cap can hit companies’ cash flows immediately, though not necessarily their financial statements, due to timing differences in claiming the deductions. Aluminum maker and recycler Novelis plans to allocate less cash toward its venture-capital arm due to the higher interest expenses. Leveraged loans have variable rates that typically reset every one to three months, based on short-term interest rates.

☆ Soccer’s Premier League accuses Manchester City of breaching financial rules
▼ + stars: | 2023-02-06 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

A general view of Etihad Stadium, home of Manchester City, on September 14, 2022 in Manchester, United Kingdom. The Premier League has referred the club to an enquiry over an alleged breach of financial rules. LONDON — The English Premier League on Monday announced it has referred soccer club Manchester City to an independent commission over alleged breaches of its financial rules. A commission will be held in private, with members appointed by the chair of the Premier League Judicial Panel. A spokesperson for Manchester City was not immediately available for comment when contacted by CNBC.

☆ Proud Boys try to keep jurors from seeing their 'politically incorrect' guide to masturbation, slavery, 'housewives'
▼ + stars: | 2023-01-23 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

It's too 'politically incorrect' for the jury, says a lawyer for defendant Dominic Pezzola. Read the "how to run a Proud Boys meeting" manual here. The Anti Defamation League considers the Proud Boys a violent, right-wing extremist group whose members commonly engage in misogynistic, Islamaphobic, transphobic, and anti-immigration rhetoric. An excerpt from a Proud Boys defense motion filed January 23, 2023 in US District Court in Washington, DC. At that point the Proud Boys members are to shout, "Bring it on!"

☆ GOP Rep. Steube sustains 'several injuries' after accident on his property
▼ + stars: | 2023-01-19 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

Rep. Greg Steube, R-Fla., sustained "several injuries" Wednesday after he was involved in an accident at his property, his office said. The severity of the injuries and how they occurred were not immediately clear. "Congressman Steube was involved in an accident on his property late this afternoon and has sustained several injuries," his office tweeted. NBC News has asked Steube's office for details. Rep. Vern Buchanan, who represents the 16th District, tweeted that it was "horrible" to hear for Steube's accident and that he wished his fellow Republican a speedy recovery.

☆ This asset class is outperforming U.S. stocks in 2023, and you may be missing out
▼ + stars: | 2023-01-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

It's a continuation of a relatively strong 2022 in which foreign stocks shed 14.5% compared with an 18% loss for U.S. names . "International stocks are set up quite well," says Ross Mayfield, an investment strategy analyst at Baird Private Wealth Management. Investing experts point to a handful of factors that have boosted the performance of international stocks of late. "Now that it's come back down, it's relieved a lot of the pressure on international stocks." "The sector mix for international stocks is more compatible with the economy we've seen," says Mayfield.

☆ More student loan borrowers may have $0 payments under Biden's new plan. What you need to know
▼ + stars: | 2023-01-17 | by ( Annie Nova | ) www.cnbc.com time to read: +4 min

Silverkblack | Istock | Getty ImagesIn the new student loan repayment plan proposal rolled out this month by the Biden administration, more borrowers could see their monthly payments drop to $0. The new REPAYE plan could officially be available July 1, 2024, according to higher education expert Mark Kantrowitz. Yet under the new proposal, those who have fallen behind may be able to sign up for the income-based repayment plan, another one of the income-driven repayment plan options. Borrowers will need to enrollOnce the new REPAYE plan is available, borrowers can call their student loan servicer to enroll in the option, or apply at StudentAid.gov. The pandemic-era relief policy suspending federal student loan bills and the accrual of interest has been in effect since March 2020.

☆ Analysis: Bankman-Fried fraud charges sidestep debate over how U.S. law sees crypto
▼ + stars: | 2023-01-09 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

"It's a pretty simple deception," said Shane Stansbury, a professor at Duke University School of Law and former Manhattan federal prosecutor. The debate matters to cryptocurrency companies because it could determine which agency regulates the trading of digital assets. Both have pleaded not guilty and argued the charges should be dismissed because insider trading charges must involve securities or commodities. In bringing wire fraud charges in both cases, prosecutors avoided taking a position on how cryptocurrencies or NFTs should be classified. It is unlikely Bankman-Fried's lawyers will attempt a similar argument because the wire fraud charges are more straightforward, Kasten said.

☆ Stock futures are flat as investors digest Fed minutes, look ahead to labor data
▼ + stars: | 2023-01-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are flat Wednesday night as investors looked beyond the hawkishness of the Federal Reserve's meeting minutes released in the afternoon toward labor data coming later this week. Markets had been down early in the day on the back of a mixed bag of economic data, but stock rose into the closing bell. Investors have "wounds that are still fresh" following 2022, which brought the worst year for the stock market since 2008, said Keith Buchanan, a portfolio manager at GLOBALT Investments. He said investors are attempting to balance what each new piece of economic data or Fed commentary can indicate with broader concerns about the future. Since the report could have a big impact on the Fed's next moves, it has the potential to impact the market.

☆ Sam Bankman-Fried pleads not guilty in the US government's criminal case over FTX crash
▼ + stars: | 2023-01-03 | by ( Sindhu Sundar | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried entered a plea of not guilty to the fraud and conspiracy charges against him, according to reports. If Bankman-Fried doesn't reach a deal with the government, the case would head to a trial. "Just because he enters a plea of not guilty, it doesn't mean he's not working with prosecutors." How those cases proceed would also depend on the course of the criminal case. A criminal trial, for instance, could help him put civil suits against him on hold.

☆ Wall St ends firmer, growth stocks lead in thin trading
▼ + stars: | 2022-12-29 | by ( Echo Wang | ) www.reuters.com time to read: +3 min

All 11 S&P 500 sector indexes rose, with communication service (.SPLRCL) and technology (.SPLRCT) as the biggest winner with gains of nearly 3%. The Fed's aggressive interest rate hikes have hammered equities this year, with the benchmark S&P 500 (.SPX) shedding 19.3% and the tech-heavy Nasdaq tumbling nearly 33%. Tesla Inc (TSLA.O) shares rose after Chief Executive Elon Musk told staff they should not be "bothered by stock market craziness." For 2022, Tesla's 66% slump and Amazon.com's 50% drop played a big part in the S&P 500 consumer discretionary sector's 38% loss. The S&P 500 posted one new 52-week high and no new lows; the Nasdaq Composite recorded 75 new highs and 160 new lows.

Neither could a fourth-grade teacher — or Judy Blume. It’s hard to fully grasp the enormous potential of ChatGPT, a new artificial intelligence chatbot released last month. We asked some experts on children’s writing to take our variation on the Turing test, live on a call with us. They were a fourth-grade teacher; a professional writing tutor; a Stanford education professor; and Judy Blume, the beloved children’s author. None of them could tell every time whether a child or a bot wrote the essay.

☆ Why Liverpool and Manchester United, two giants of soccer, are up for sale at the same time
▼ + stars: | 2022-12-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +7 min

In November, the owners of first Liverpool and then Manchester United confirmed they were open to new investment offers, with the potential for full sales of the top flight English clubs. Meanwhile New York-listed shares in Manchester United popped 18% on the news on Nov. 23 that its owners were similarly opening themselves up to investment opportunities. Big money competition One recurring complaint Manchester United fans have had of the Glazers is a lack of investment in the club, across both facilities and players. Old Trafford Stadium, the home of Manchester United Football Club. "In the cases of Liverpool and Manchester United, both owners have held the clubs for a long time, and both assets have appreciated a lot as their leagues and brands and global fan bases have developed.

Some top equity strategists predict no profit growth or even a decline in earnings. For the U.S. benchmark S&P 500, analysts project full-year 2023 profit growth of 4.7% following estimated growth of 5.7% for all of 2022, based on Refinitiv data. Jonathan Golub, chief U.S. equity strategist at Credit Suisse Securities in New York, recently lowered his profit forecast and expects a decline in year-over-year S&P 500 earnings in 2023. "Our analysis shows that both earnings and margins typically contract when global GDP (gross domestic product) growth ran below trend". Earnings breakdown by regionEarnings growth by global sectorBlackRock in its 2023 global outlook said earnings expectations are not yet pricing in a recession.

☆ Ryan Seacrest's marketing agency has hired a top NBC News journalist to lead its push into brand storytelling
▼ + stars: | 2022-12-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Ryan Seacrest's marketing agency, Civic, has made a big hire to expand its brand storytelling work. The 23-year-old Civic, whose clients include Amazon and Ford, is focused on making journalistic-style content for brands. Ryan Seacrest's marketing agency, Civic, has made a big hire to expand its brand storytelling work. "No one wants branded content," Civic cofounder and co-CEO Stuart Ruderfer told Insider. Fully 86% of companies use digital content marketing, according to an Insider Intelligence estimate.

“I’ll get 218,” McCarthy told CNN, referring to the votes he’d need to become House speaker. Video Ad Feedback Bash asks Pelosi if McCarthy has what it takes to be House Speaker. “I’m not going to talk about hypotheticals,” said Biggs, who lost his conference’s nomination to become speaker last month after securing 31 votes. But McCarthy’s detractors said it’s an issue very much still on the table and think he may end up needing to embrace it if he still doesn’t have the speaker votes by January 3. But he refused to rule out a scenario where his caucus would help elect the next speaker if McCarthy couldn’t get the votes.

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