Author: Press Room
As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. The theory goes something like this: Office property values are falling — with more to come. Workers have been slow to head back to the office , and companies may look to cut costs as the economy weakens by exiting office leases. If this happens, it would put further pressure on the value of office space, which has already been challenged by rising interest rates. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in…
The Biden administration and the abortion pill distributor Danco Laboratories on Friday asked the Supreme Court to block an order that threatens access to that medication, mifepristone, in an escalation of a legal fight that could make it harder to undergo the procedure nationwide.The U.S. 5th Circuit Court of Appeals late Wednesday blocked U.S. District Judge Matthew Kacsmaryk’s order suspending the Food and Drug Administration’s approval of mifepristone.But the appeals court voted 2-1 to temporarily reimpose restrictions on mifepristone, which will significantly limit access to the drug even in states where abortion is legal.”If allowed to take effect, the lower…
Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. Charles Redfield, whose career at Walmart spanned 32 years, will transition on May 1 and remain in an advisory role. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. The leadership shakeup comes after America’s largest retailer warned…
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Blockchain and smart-contract platform Chia Network has confidentially submitted a draft registration statement to the Securities and Exchange Commission, moving a step closer to a US initial public offering.In a Friday press release, the crypto startup revealed that it has submitted a draft registration statement on Form S-1 for a proposed IPO to the SEC.Chia added that the size and price range for the proposed IPO has not been decided yet. The blockchain platform said that the IPO “is expected to commence after the SEC completes its review process.”Founded by BitTorrent creator Bram Cohen, Chia provides regulatory-compliant blockchain setting the standard for…
Welcome back! Dan DeFrancesco in NYC. Today, we’ve got stories on how to land an internship at D.E. Shaw, what’s going on with Credit Suisse bankers looking for new gigs, and the airports you probably should avoid if you don’t like crowds.But first, just give me a number.If this was forwarded to you, sign up here. Download Insider’s app here.1. Let’s make a deal. It seems the time has finally come for some M&A, and one group is ready to go. I wrote last week about how a couple of blockbuster deals could kick off a spree of dealmaking after a long…
OpenAI launched a program on Tuesday that will pay people to find bugs in its AI systems. The “Bug Bounty Program” will pay people $200 to $20,000 depending on the size of bug discovered. OpenAI’s program is developed in partnership with Bugcrowd, a crowdsourced security platform. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app OpenAI is inviting people to discover “bugs” in its buzzy AI tools like ChatGPT and GPT-4 for sizable cash rewards. In a blog post on Tuesday, OpenAI unveiled the “Bug…
Listen to the podcast embedded above or on the go via Apple Podcasts or Spotify. 3:00 – Fed rhetoric and interest rates 8:15 – Recent bank earnings, what it means for the financial sector. 17:10 – Options and retail investing 23:40 – Charles Schwab (SCHW) absorbing TD Ameritrade is a big deal nobody’s talking about it. 31:15 – Charting Bitcoin’s course 45:30 – Stock-picking strategy – different metrics for different sectors 58:26 – Strong energy stocks Recorded on April 14, 2023 Subscribe to Kirk’s Margin of Safety Investing Transcript Rena Sherbill: Kirk, welcome back to the show. Welcome back to…
In Ballina, a small town in County Mayo, in the west of Ireland where his ancestors once lived, US president Joe Biden gave a rousing campaign-style speech on Friday night that appeared to set the stage for a re-election bid in 2024.Standing in front of Saint Murdeach’s Cathedral, on the banks of the River Moy, before an estimated crowd of 27,000 people, Biden traced his family’s history, echoed the slogans of his 2020 presidential campaign, and struck an optimistic note about the future.“This is a moment to recommit our hearts, our minds, our ardent souls to the march of progress;…
Georgia Gov. Brian Kemp on Saturday urged his fellow Republicans to move on from the 2020 presidential election, offering a thinly veiled dig at former President Donald Trump and his continued election grievances. Without naming Trump, Kemp’ said at a private Republican National Committee donor retreat in Nashville that “not a single swing voter in a single swing state will vote for our nominee if they choose to talk about the 2020 election being stolen.” “To voters trying to pay their rent … make their car payment … or put their kids through college … 2020 is ancient history,” Kemp…
