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Contrary to the picture prosecutors tried to paint, Bankman-Fried insisted that he was not involved in the day-to-day trading operations of Alameda or its “core operations.” © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/NFcbm24 via IFTTT

Office prices could see a 40% peak-to-trough decline by the end of next year, Capital Economics forecasted. OnTheWeb/Youtube The rise in bond yields could spark a price crash in the office sector, according to Capital Economics. That's because rising Treasury yields could impact cap rates on office buildings, which lowers prices.  Office prices could see a 40% peak-to-trough decline by the end of next year, the firm predicted. Soaring bond yields will have a hand in pushing the price of America's office properties down as much as 40% by the end of next year, according to Capital Economics.  The research firm pointed to the recent surge in Treasury yields, with the yield on the 10-year bond recently hitting 5% for the first time since 2007.  The 10-year yield could ease to around 3.75% in 2024 before surging back up to 4% in 2025, the firm predicted in a note on Tuesday. That's likely because the neutral real interest rate — the interest rate that neither expands

Andrew Kelly/Reuters The main driver behind stock prices is set to weaken amid a period of high interest rates, according to JPMorgan. Corporate profits will head lower due to high rates combined with deteriorating consumer finances, the bank said . "Consensus expectations of 12% forward EPS growth should be revised lower," JPMorgan said. The stock market's biggest driver is due for a slowdown that few on Wall Street expect, according to a Monday note from JPMorgan. Corporate profits will head lower amid high interest rates combined with deteriorating consumer finances, the bank said. Consensus estimates suggest the S&P 500 will grow its earnings per share by 12% in 2024, but that view is "divorced" from the growing risks of diminishing consumer savings, restrictive monetary policy, and elevated geopolitical risk. "Consensus expectations of 12% forward EPS growth should be revised lower," JPMorgan said. And lower growth estimates ult

House Speaker Mike Johnson, left, and former House Speaker Newt Gingrich. AP Photo/David Becker; AP Photo/Dennis Cook Rep. Mike Johnson's ascent to the House speakership last week took most in the GOP by surprise. He's now the first House speaker from the South since Newt Gingrich held the gavel in the 1990s. Johnson's elevation puts the South front and center. The region could determine control of the House. Rep. Mike Johnson's ascent to the speakership came so quickly that during his acceptance speech, he mentioned that his wife couldn't make it to Washington in time to attend his swearing-in ceremony. "This happened sort of suddenly," the Louisiana Republican said last Wednesday after succeeding Rep. Kevin McCarthy of California as speaker and as the new leader of the House GOP conference. With McCarthy's ouster from the role comes a major regional shift as Johnson is the first Southern Republican to lead the House since Newt Gingrich

Israel Special Forces Israeli Special Forces/Facebook Israel has sent elite troops into Gaza as its ground invasion of the territory ramps up. Herzi Halevi, chief of the general staff of the Israel Defense Forces, said its "best soldiers" were in action. They will be tasked with clearing the Hamas' labyrinth of tunnels and rescuing over 200 hostages. Israel has indicated that it had sent elite troops into Gaza as it intensifies its ground operations against Hamas following the October 7 terrorist attacks. Herzi Halevi, the chief of the general staff of the Israel Defense Forces (IDF), said in an update posted to X , formerly Twitter, that the IDF's "best soldiers and commanders" were now taking part in the offensive in Gaza . Halevi said that Israel had entered the next stage of the war as it set about its goal of "dismantling Hamas, securing our borders, and the supreme effort to return the hostages home." Here are the special forces

SharkNinja's nonstick pans are manufactured at a maximum temperature of 30,000°F — almost three times the temperature of the sun's surface. Picture created via Dall-E 2 SharkNinja says its frying pans have a stronger nonstick coating because they're made at 30,000°F.  That's as hot as certain parts of the sun , which is only 10,340°F at its surface. A new lawsuit argues the company's claim is misleading and defies the laws of physics. Is there a limit on how hot a frying pan can get ? SharkNinja claims that its nonstick pans are manufactured under a maximum temperature of 30,000°F, which is almost three times hotter than the surface of the sun . The company says the super hot temperature ensures that the nonstick coating on its pans is more resistant than competitor pans made at lower temperatures. In a proposed class-action lawsuit filed against the company, New Jersey native Patricia Brown argues that SharkNinja's claims are physically impossible.

Former Vice President Mike Pence. AP Photo/Alex Brandon Former Vice President Mike Pence announced he would suspend his presidential run. "This is not my time," Pence said during his remarks at the Republican Jewish Coalition Summit. Pence failed to gain traction in the GOP primary as he went up against his ex-boss, Donald Trump. Former Vice President Mike Pence has suspended his presidential campaign, he said on Saturday. Pence made the announcement while speaking at the Republican Jewish Coalition Summit in Las Vegas, where he spoke forcefully for the United States to continue its strong alliance with Israel while stating that his own 2024 White House would be coming to a close. "The Bible tells us that there's a time for every purpose under heaven," he told attendees . "Traveling across the country over the past six months, I came here to say it's become clear to me: This is not my time. So, after much prayer and deliberation, I have decid

N.R. Narayana Murthy said that young Indians should be working 70 hours a week to turn the country into a global economic leader. INDRANIL MUKHERJEE Infosys founder N.R. Narayana Murthy said young Indians should work 70 hours a week. He said they need to become "highly determined, extremely disciplined, and extremely hardworking." But some say 70-hour workweeks lead to burnout and push women out of the workforce. One of India's top business leaders said that young Indians need to grind out 70-hour workweeks if they want to see their country realize its economic potential. "My request is that our youngsters must say: 'This is my country. I want to work 70 hours a week," N.R. Narayana Murthy, the 77-year-old founder of information technology giant Infosys , said in a recent interview with former Infosys CFO T.V. Mohandas Pai. Murthy, who cofounded Infosys in 1981 and has a net worth of around $4.3 billion, according to Forbes, said that India has

When you buy through our links, Insider may earn an affiliate commission. Learn more Watch Australia vs. New Zealand at the Cricket World Cup for free today. Pankaj Nangia (Stringe) / Getty Images Looking for help on where to watch an Australia vs. New Zealand live stream? We can help get you set up in just a few clicks, and even better, you can tune into this live Cricket World Cup match for free. This guide will also show you what other games you can see for free throughout the rest of the tournament, along with some paid alternatives if you want total coverage for every single game. New Zealand (3rd) begins the day two points ahead of Australia (4th), but both teams are looking likely to make it into the semi-finals even with a fair few games to go, such is the lack of consistency of most of the other teams at the Cricket World Cup this year. South Africa and India are flying high, but Pakistan is curiously off the pace, and England will be lucky if they don't finish botto

Chelsea Jia Feng/Insider Sam Bankman-Fried took the witness stand on Thursday after days of testimony from his inner circle. The FTX cofounder is facing seven charges of fraud over the collapse of the cryptocurrency exchange. Bankman-Fried's testimony could be a last-ditch effort for his defense, but it could also be risky. Sam Bankman-Fried took the witness stand Thursday to testify in his own defense in the criminal trial involving FTX's collapse on Thursday. The jury was dismissed before the FTX cofounder began his testimony. Judge Lewis Kaplan said some of Bankman-Fried's testimony would occur without the jury present so that he could decide whether it could be used as evidence, Reuters reported . Ahead of the defense calling Bankman-Fried as a witness, the FTX cofounder's attorneys appeared to go back and forth on whether they would have their client take the witness stand . But, defense attorney Mark Cohen told the judge on Wednesday that Bankman-Fried

Federal Reserve Governor Jerome Powell delivers remarks during a conference at the Brookings Institution in Washington. Carlos Barria/Reuters After 11 interest rate hikes, Federal Reserve officials appear divided on next steps.  Jerome Powell and other central bankers have signaled another rate hike could be on the table. Markets predict 97% odds of no rate hike November 1, and 29% odds of a quarter-point hike in December.  In a bid to stamp out the highest inflation in four decades, Federal Reserve officials led by Jerome Powell have made 11 interest rate hikes since March 2022, putting an end to the easy-money era while pressuring the stock market and raising concerns about a coming recession.  Since the Federal Open Market Committee's September meeting, several central bankers have signaled that interest rates could still go higher. Others at the same time have countered, saying instead that the federal funds rate has likely peaked for this cycle. Recent volatility in

Jamie Dimon warned against predicting what's next for the economy. AP Photo JPMorgan's Jamie Dimon said central banks' outlook from 18 months ago was "100% dead wrong." He cautioned against making definitive economic forecasts, and said to prepare for a range of outcomes. Dimon is doubtful that central banks and governments can manage the coming turmoil. Jamie Dimon, the billionaire chief executive of JPMorgan Chase and one of Wall Street's most-watched commentators, said forecasters have missed the mark on their economic outlooks, and there's still reason for caution moving forward.  In a panel at the Future Investment Initiative Summit in Riyadh, Saudi Arabia, the banker called out governments and central banks, and said some more humility should be in order.  "Prepare for possibilities and probabilities, not calling one course of action, since I've never seen anyone call it," Dimon said, per multiple media reports. "I want

The Ram 1500 Revolution BEV concept made by Stellantis; the Volkswagen ID.4. Ram; Volkswagen A flood of automakers have announced their EVs will adopt Tesla's charging tech. But there are still two significant industry holdouts. Volkswagen and Stellantis have yet to make the switch to NACS. It started with a drop, and then a flood of automakers announcing their vehicles would soon support Tesla's charging technology , a major win for consumers and a massive vote of confidence for the plug. But even as the companies behind a vast number of new electric vehicles announce support for the North American Charging Standard , or NACS, two major holdouts remain: Volkswagen and Stellantis. Volkswagen was the world's second-largest carmaker last year, holding 10% of the global light-vehicle market share , while Stellantis came in fifth on the list with 7% of global share, according to S&P Global Mobility. As for EVs, VW sold more than 572,000 battery electric vehicl

Krystal Allen, the founder and CEO of K. Allen Consulting, left, and Vanessa Rissetto, the cofounder and CEO of Culina Health. Courtesy of K. Allen Consulting and Lauren Anzevino Short-form videos can be produced easily and inexpensively and offer high levels of engagement.  Small-business owners use short videos to build brand awareness and connect with potential clients.  The videos resonate most when they offer a glimpse at a brand's authenticity. This article is part of " Marketing for Small Business ," a series exploring the basics of marketing strategy for SBOs to earn new customers and grow their business.  When Krystal Allen surprised her employees with Beyoncé concert tickets this summer, she posted a minute-long video about it on Instagram reels . The video racked up thousands of views and likes and even garnered media attention .  The video "demonstrates what's possible for a brand that started from scratch," Allen, the founder and CEO

The Consumer Financial Protection Bureau headquarters in Washington, DC. Bill Clark/CQ-Roll Call, Inc via Getty Images The CFPB released a report analyzing complaints from private and federal student-loan borrowers. It found that private borrowers were receiving incorrect information from their lenders on relief. Specifically, they were incorrectly told they were ineligible for bankruptcy relief. Some lenders might be discouraging private student-loan borrowers from receiving relief to which they're entitled. The Consumer Financial Protection Bureau's education loan ombudsman Robert Cameron released the annual report on student-loan complaints from September 1, 2022 through August 31, 2023. In that time period, 9,284 student-loan borrowers submitted complaints — 6,934 of which were related to federal loans and 2,350 of which were related to private loans. The current private student-loan portfolio in the US has about $132 billion in outstanding debt, which is 8% o

Getty Images Investors should favor stocks over bonds amid rising geopolitical risks and elevated inflation. Wharton professor Jeremy Siegel outlined the case for stocks in both the short and long-term. "Stocks climb the wall of worry. When there's no cloud in the sky, you're buying too high," Siegel said. Despite elevated inflation, volatile interest rates, and rising geopolitical risks, "stocks are the place to be," according to Wharton professor Jeremy Siegel. Siegel told CNBC on Monday that investors should continue to favor stocks over bonds as economic growth stays strong thanks to productivity growth, partially enabled by the growing adoption of artificial intelligence. Siegel observed that America's GDP growth in 2023 is about double the GDP growth of 2022 even as job gains this year are only half of the job gains seen last year. That dynamic highlights the current environment of productivity growth as company's get more efficien

ZenML wants to be the glue that makes all the open-source AI tools stick together. This open-source framework lets you build pipelines that will be used by data scientists, machine-learning engineers and platform engineers to collaborate and build new AI models. The reason why ZenML is interesting is that it empowers companies so they can […] © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/QTHlM0n via IFTTT

AI and other deep technologies are the prevailing themes in the new early-stage cohort from Peak XV Partners, as the largest India and Southeast Asia-focused VC fund intensifies its search for opportunities in a sector garnering international frenzy. Ten out of 13 startups in the latest cohort of Surge, Peak XV’s powerfully influential early-stage program, […] © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/1xR9Bhl via IFTTT

Motorsports and off-road competition isn’t the typical fodder over here at TechCrunch — unless, of course, there also happens to be a podium-winning team driving an all-electric 2023 Rivian R1T. The Rebelle Rally, the longest off-road map-and-compass rally in the United States, wrapped up Friday evening with a new EV milestone under its belt. This […] © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/M9Yzlqu via IFTTT

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Former Rep. Adam Kinzinger of Illinois. AP Photo/Jacquelyn Martin, File Adam Kinzinger said Friday that the House GOP would be in "survival mode" after resolving their leadership woes. Kinzinger in the past has been a vocal critic of ousted Speaker Kevin McCarthy of California. The ex-congressman said that he was unsure if the House GOP could govern going forward, given its slim majority. Former Rep. Adam Kinzinger has a tough message for his former colleagues now struggling to select a replacement for ousted ex-House Speaker Kevin McCarthy: buckle up. During a Friday appearance with PBS NewsHour journalist Geoff Bennett in conjunction with Politics and Prose bookstore, Kinzinger was asked if House Republicans had the capacity to govern as a majority party. His response: "I don't know." "If they had maybe a 40, 50-vote majority, yeah, you can always minimize the bomb-throwers or the minority of a viewpoint," the Illinois Republican said. &

Welcome, folks, to Week in Review (WiR), TechCrunch’s regular newsletter that highlights notable tech industry happenings over the past few days. Life moves pretty fast, as a young Matthew Broderick once said — we empathize. Fortunately, there’s WiR to get you caught up to speed. In this edition of WiR, we cover a hacker leaking […] © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/70WtHTe via IFTTT