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☆ For bear stock pickers, 2023 is full of rich pickings
▼ + stars: | 2022-12-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +6 min

[1/2] Carson Block, Chief Investment Officer, Muddy Waters Capital LLC., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. Hedge fund Muddy Waters on Wednesday said it was shorting Vivion Investments, suspecting the real estate investment firm's portfolios were overvalued. Since the 2007-2008 global financial crisis, companies have pushed aggressive accounting to its limits, said Muddy Waters CEO Carson Block. People are milking the system," he said, adding that he expects even more aggressive accounting and fraud in 2023. Tighter monetary conditions and less readily available debt means investors will likely scrutinise company cash generation in 2023, Earl said.

☆ China's reopening brings both risks and opportunities, Asian Development Bank says
▼ + stars: | 2022-12-15 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +3 min

watch nowChina's reopening could bring opportunities as well as risks to its economy, Albert Park, chief economist at the Asian Development Bank told CNBC. His comments came a day after Hong Kong further eased travel and mobility measures. It's been surprising how quickly businesses in Hong Kong have bounced back, and those that left Hong Kong due to its stringent measures in the past are ready to return as well, claimed Zeman. "They've been so pleased with the result of yesterday and many are planning their trips back," he said, referring to people who do business in Hong Kong. With regard to tourism, China's reopening will accelerate Hong Kong's recovery to "bring us back to the old days again," according to Zeman.

☆ UBS expects this global tech stock to see a 60% upside despite headwinds and reopening challenges
▼ + stars: | 2022-12-14 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

UBS is bullish on GoTo Group , and changed its 12-month rating for Indonesian e-commerce and ride-hailing giant from "sell" to "buy." GoTo shares surged as much as 33% during Tuesday trading after the Swiss investment bank did a double upgrade of the stock. Despite subsidy reductions and tough macro conditions, GoTo has been growing quarter-on-quarter in key segments, UBS said in its report. UBS Still, UBS lowered its 12-month price target for GoTo by 33% to 160 rupiah, from a previous target of 240 rupiah. "The expiry of lock-up and steady progress towards profitability in end-2023 should help the stock re-rate, in our view," said the UBS report.

☆ Airbnb and Vrbo owners should brace for 2023. There's more competition than ever and hosts will have to work harder to stay booked.
▼ + stars: | 2022-12-12 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Short-term rental owners will see a drop in occupancy rates in 2023, one forecast shows. While travel is still expected to remain high, travelers will have more listings than ever to choose from. "Even if we go into a mild recession, we don't expect demand for travel to decline next year," he told Insider. The hosts that will do best will most likely be those that offer discounted rates, Lane says. Those who don't actively manage their prices will "most likely" see a drop in their revenue, Lane said.

☆ See insider the creepy nuclear bunker that has been sold at auction as a unique off-grid vacation home
▼ + stars: | 2022-12-10 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

A Cold-War era nuclear bunker built in 1959 has sold at auction in Lincolnshire, England. The bunker was built as part of a civil defense group's nuclear plan and is accessible via a 14-foot ladder. The bunker went on sale with SDL Property Auctions and sold for £31,000, or about $38,092, according to the auctioneers' website. SCL AuctionsThe bunker also comes with a caravan that can be used for an above-ground holiday home, but the buyer plans to replace it, Insider has been told. The former owner said he was selling the unique property because he had not visited it for years and added, "I'd like some cash to go on holiday."

Feeling defiant, I told him, I will let the world know what you police are doing," said Pei, 27. He asked to be identified only by part of his name for fear of repercussions. China's Ministry of Public Security did not respond to a request for comment on the laws they might use against protesters. Zhang Dongshuo, a Beijing-based lawyer who has handled rights cases in the past, said the levels of punishment for protesting in China vary widely. "They just sprang up organically because people were driven by a sense of hopelessness and desperation about the never-ending COVID restrictions," Wu said.

☆ Jim Cramer says he expects 'many layoffs' at companies after Christmas
▼ + stars: | 2022-12-06 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday predicted that more companies will trim their workforces after the holiday season. "I'm sure there'll be many layoffs after Christmas. Tech companies, whose astronomic growth in recent years has been derailed by the Federal Reserve's interest rate hikes, led last month's layoffs. Yet the total number of layoffs this year is the second lowest since the company started tracking the metrics in 1993. Cramer attributed the lack of job cuts to the fact that many companies have managed to stay afloat — a fact that could change next year.

☆ Sen. Mike Braun filing to run for governor of Indiana kicks off the GOP's first open Senate seat race of 2024
▼ + stars: | 2022-11-30 | by ( Warren Rojas | Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Republican Sen. Mike Braun has filed to run for governor of Indiana in 2024. "I'd say here in 10 days to a couple of weeks," Braun told congressional reporters of his current timetable. "I'm very confident Indiana will stay in Republican hands," Daines told Insider between votes at the US Capitol. And fortunately for the Hoosier State, we have a lot of talented people who might run for that seat," Young told Insider at the US Capitol. The Banks and Spartz campaigns did not immediately respond to requests for comment about prospective Senate runs in 2024.

☆ The investment case for next-gen trading stocks like Coinbase and SoFi despite crypto contagion
▼ + stars: | 2022-11-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Nevertheless, crypto trading services such as those offered by Coinbase , SoFi and Robinhood are likely to suffer a lull nevertheless as retail and institutional investors alike exit the market or try and move past their fear of another upheaval. "We are updating our model to reflect a 'lower for longer' assumption, particularly as it pertains to retail trading," Budish said. SoFi in a unique position This week, Democratic senators urged regulators to look into SoFi's trading activity as Washington attempts contemplates acting on FTX's spectacular collapse. SoFi has said its crypto revenue exposure is immaterial, it's compliant with regulators, doesn't do any crypto lending and had no exposure to FTX. However, it's possible that SOFI may find itself more heavily regulated with potential for incremental capital and liquidity requirements."

☆ How to Keep Your Job in a Recession or Find a New One
▼ + stars: | 2022-11-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +6 min

That doesn't mean you should stay put in a stable job if you're miserable, careers experts say. Workers have been worried about job cuts since the summer, with a July survey from Insight Global finding that 78% of US employees were anxious about job security in the event of recession. "There is definitely more competition for talented workers, so if people are interested in changing jobs, or getting a better job or looking for a promotion, it's a pretty good time to be doing it." Don't quit in a hurryOver half of American employees have said they'll look for a new job if there's a recession, June data from recruitment software company Greenhouse found. Be flexible about your demandsHaving a degree of flexibility during a recession can't hurt your job hunt.

☆ Trump-tied stocks jump as former president launches 2024 White House bid
▼ + stars: | 2022-11-16 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +2 min

Nov 16 (Reuters) - Shares of companies tied to former U.S. President Donald Trump jumped on Wednesday after he launched a bid to regain the presidency in 2024. Shares of Digital World Acquisition Corp (DWAC.O), the blank-check company looking to take Trump's social media venture Truth Social public, jumped 9% in premarket trading. DWAC was also the most trending ticker on retail investor-focused social media forum Stocktwits. Trump's Truth Social announced in August it would join Rumble's new ad platform as its first publisher in August. Artificial intelligence solutions company Remark Holdings (MARK.O), which has been linked to the former president on social media sites, gained 5.7%.

☆ Investors have filed a lawsuit against FTX celeb endorsers like Tom Brady, Steph Curry, and Larry David
▼ + stars: | 2022-11-16 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +2 min

Investors have filed a lawsuit against celebs who promoted the defunct crypto exchange FTX. The suit names celebs who range from sports stars like Tom Brady and Steph Curry to Larry David. FTX, which filed for bankruptcy on Friday, had invested millions in promotions like high-profile partnerships with celebs, sponsorships including the Miami Heat's FTX Arena, and deals with finance influencers. Several finance influencers who promoted FTX have apologized to their fans in recent days, including YouTuber Graham Stephan, Insider previously reported. FTX and representatives for Brady, Curry, Ortiz, David, and O'Leary did not immediately respond to Insider's request for comment.

☆ A conversation with Shark Tank's Kevin O'Leary on FTX, Sam Bankman-Fried, and crypto regulation.
▼ + stars: | 2022-11-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Top of mind, inevitably, was last week's implosion of FTX, as O'Leary was a spokesperson and investor with the exchange. It was our third conversation together, and O'Leary shared candid thoughts on his FTX investments going to zero, as well as details from a phone call he had with Sam Bankman-Fried just before FTX declared bankruptcy. O'Leary, a paid spokesperson for FTX, said he had initially gained trust in the company and its 30-year-old CEO, Sam Bankman-Fried, a little over two years ago. The Shark Tank star told me that he was on the phone with Sam Bankman-Fried the day before FTX declared bankruptcy to discuss a price for potential buyers to rescue FTX. "He confirmed that it was $8 billion, and that's the number I took forward," O'Leary explained.

☆ Shark Tank's Kevin O'Leary, an FTX spokesperson, explains his next move after the crypto collapse and how he tried to rescue Sam Bankman-Fried
▼ + stars: | 2022-11-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

In an interview with Insider, Kevin O'Leary explained his next move now that FTX, a company he invested in, filed for bankruptcy. The "Shark Tank" investor said he's moving his assets to Canada, and will no longer keep funds in unregulated exchanges. He also broke down details of his phone call with FTX founder Sam Bankman-Fried. O'Leary then met his parents — both compliance lawyers — and gained more confidence from seeing other large, global investors backing FTX. Bankman-Fried also said on the call, according to O'Leary, that regulators were going to "come down hard" on the situation.

☆ I'm a cart girl on a Las Vegas golf course. I've made $1,000 in tips in a day, but customers can be weird.
▼ + stars: | 2022-11-12 | by ( Elle Hardy | ) www.businessinsider.com time to read: +9 min

Cassie Holland lost her job during the pandemic and became a cart girl at a Las Vegas golf course. I got to the golf course and it had palm trees and little animals running around. About a year into working as a cart girl, I started putting videos on TikTokHolland with a golfer. I still hear from people from across the country asking if I can come to their golf course to work there. Working as a golf cart girl has totally changed my life.

☆ An investor with 35,000 rental houses is sitting on $3 billion of 'dry powder' as it waits for the perfect time to buy up thousands more homes
▼ + stars: | 2022-11-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +4 min

Tricon Residential is one of the biggest owners of single-family rental homes in the US. Berman said the company expected to buy up 850 homes in the fourth quarter, for a total of 7,300 this year. Berman said the company was "slowing down today" so it could buy larger portfolios at discounted prices in the future. Single-family rental operators may be slowing down in the short term, but the biggest players have been adamant that the fundamentals of their business remain strong. "We also think that a lot of the startups in single-family rental may have trouble getting financing, and so maybe some portfolios shake loose.

☆ Read the memo Redfin's CEO sent employees announcing that the company is laying off 862 people
▼ + stars: | 2022-11-09 | by ( Robert Davis | ) www.businessinsider.com time to read: +6 min

Read the full memo that CEO Glenn Kelman sent to employees this morning. However, 218 of the employees were offered other roles at the company as part of the wind-down, Kelmann indicates in the memo. If none of these employees accept their new roles, the total layoff will impact about 16% of Redfin's workforce. Read the full email that Kelman sent to Redfin employees:Dear Redfin,We're laying off 862 brilliant, loyal people and also closing RedfinNow. 13% LayoffWith this layoff, the number of employees at Redfin, including those at Rent and Bay Equity, will decline by 13%.

☆ AMC is trying to fill some empty movie theaters with Zoom meetings
▼ + stars: | 2022-11-08 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Call it an odd pairing: AMC and Zoom are teaming up to turn some movie theaters into huge meeting rooms. Starting next year, the movie theater chain will launch "Zoom Rooms" in as many as 17 cities across the US. AMC and Zoom announced Monday that they're teaming up to turn some movie theaters into huge meeting rooms. Starting sometime in 2023, they'll bring what they call "Zoom Rooms" to AMC theaters in as many as 17 cities in the US. Zoom Rooms at AMC broadens our scope, as we now can participate as well in the multi-billion market for corporate and other meetings."

☆ Stripe plans to lay off 14% of workers
▼ + stars: | 2022-11-03 | by ( Annie Palmer | ) www.cnbc.com time to read: +11 min

Online payments giant Stripe plans to lay off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday. Here's Collison's full memo:Earlier today, Stripe CEO Patrick Collison sent the following note to Stripe employees. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. We'll accelerate everyone who has already reached their one-year vesting cliff to the February 2023 vesting date (or longer, depending on departure date). We'll cover career support, and do our best to connect departing employees with other companies.

☆ Outgoing Charter CEO Tom Rutledge says in an exclusive CNBC interview that there's 'pain to come' as linear TV gives way to streaming
▼ + stars: | 2022-11-03 | by ( Alex Sherman | ) www.cnbc.com time to read: +33 min

The biggest cable company in the industry at that time had about a million customers. And the second question is, very much related to that, for years now, the bull investor thesis has been broadband growth. So does that mean that broadband growth is no longer the big growth story it once was? No, I think there's plenty of broadband growth to get for us and there's continued broadband adoption to get for the whole industry. And I think there's some value in scale which can translate into consumer value as well.

☆ Why 10,000 pounds of rubber are stripped from runways
▼ + stars: | 2022-10-28 | by ( Melissa Estrada | ) www.businessinsider.com time to read: +6 min

Rubber builds up on airport runways and runway lights every time a plane's wheels touch down. Narrator: Every time a plane lands, each tire leaves around 1½ pounds of rubber on the runway. That temperature makes the tread rubber melt and bond to the runway and lights that guide pilots. That's over 30 pounds of rubber lost per landing – equivalent to the amount of rubber in two of your car's tires. And runway lights, used to guide takeoff, landing, and taxiing, especially at night and in low-visibility conditions, are dimmed by the melted rubber bonding to them.

☆ The volatile bond market could cause a 'system reset,' says an award-winning fund manager who explains why the way out will either be apocalyptic or a 'shock move higher' for stocks.
▼ + stars: | 2022-10-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Michael Gayed says if volatility in the bond market doesn't abate, economic activity could halt. But even for someone with Gayed's expertise, this year's market conditions have brought surprises relative to historical cycles. Instead, it's a system-wide distress signal and an indication that the government bond market can't handle the higher rates, he added. If the bond market were to have a really nasty collapse further from where we are now, "it's like a reset for the system", Gayed said. However, a recovery likely won't be led by US large-cap stocks, Gayed said.

Oct 19 (Reuters) - Dwayne "The Rock" Johnson stars in the antihero DC Comics film "Black Adam," and he is calling it his passion project. Register now for FREE unlimited access to Reuters.com RegisterThe character Black Adam first appeared in a 1945 Fawcett comic book. In the film, Black Adam, the ancient hero of fictional country Kahndaq, is freed from imprisonment after 5,000 years and he is less than happy about such a rude awakening. The wrestler-turned-actor also hopes the audiences will connect with the film the same way he connected with the Black Adam character during his childhood. Produced by New Line Cinema, a unit of AT&T Inc's (T.N) Warner Bros studio, "Black Adam" will be released on Friday.

☆ Italy's Berlusconi says has exchanged "sweet letters" with Putin
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

ROME, Oct 18 (Reuters) - Former Italian Prime Minister Silvio Berlusconi said on Tuesday he was back in touch with Russian President Vladimir Putin and had recently exchanged "sweet letters" with him, according to an audio released by an Italian news agency. Register now for FREE unlimited access to Reuters.com Register"I answered him with some bottles of Lambrusco (wine) and an equally sweet letter," said Berlusconi, whose birthday was on Sept. 29. A party spokesperson denied Berlusconi was back in touch with Putin, saying he had been telling his parliamentarians "an old story referring to an episode many years ago." Matteo Salvini, leader of the anti-immigrant League, has often praised Putin and used to don a T-shirt emblazoned with the Russian leader's face. "They could become a boomerang and we will find ourselves in great difficulty," he told the talk show Porta a Porta.

☆ Bitcoin miners are feeling the heat as the network’s mining difficulty reaches an all-time high
▼ + stars: | 2022-10-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

If there's too much competition, that means the blocks are coming in too fast and the difficulty needs to go up, D.A. "An increasing network hashrate is good for the health of the [Bitcoin] network," Brendler told CNBC Pro. The problem for miners Miners have been feeling the heat since bitcoin fell below $20,000 and energy prices have increased. But between the hot Texas summer and the falling price of bitcoin, many miners have been forced to stop. In previous years, there's been a positive correlation between the bitcoin price and the Bitcoin hashrate, but in this new macro-led market, investors shouldn't place too much faith in that, Lau said.

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