• Money managers are selling insurance against sudden market drops, but the strategy doesn’t always pay off when the market falls Link
    Businessweek Tue 09 Aug 2022 17:05

    An increasingly popular sales pitch on Wall Street goes like this: If you’ve insured your home against some disaster, or even a total loss, shouldn’t you do the same for your investment portfolio? In the case of a house or apartment, the danger would be fire, flooding, or perhaps a devastating storm. In the financial markets, it might be a sudden spike in volatility and a rapid decline in prices that wipes out months if not years of gains.

    For investors of all stripes, from the most august institution to the scrappiest day trader, the current maelstrom of sustained inflation, never-ending pandemic, war, rapidly rising interest rates, swooning tech stocks, and crypto collapse—what economic historian Adam Tooze calls a

  • Neom, MBS's $500 billion futuristic mega-project in the desert, is supposed to be a showpiece for Saudi Arabia. But current and former employees, as well as internal documents, say the project is plagued by setbacks Link
    Businessweek Tue 09 Aug 2022 16:10

    One day last September, a curious email arrived in Chris Hables Gray’s inbox. An author and self-described anarchist, feminist, and revolutionary, Gray fits right into Santa Cruz, Calif., where he lives. He’s written extensively about genetic engineering and the inevitable rise of cyborgs, attending protests in between for causes such as Black Lives Matter.

  • Abortion bans will wipe out decades of economic progress in the US Link
    Businessweek Tue 09 Aug 2022 15:55

    Fear is like acid on the brain, etching memories that remain long after you’ve forgotten things like the formula for photosynthesis or your first boyfriend’s favorite band.

    More than a quarter century has gone by, but there’s so much I remember about that day in Miami: The tacky black satin sheets on the bed in the one-bedroom condo my boyfriend’s friend had loaned us for our weekend trip, the white glare of the sun outside, and the double line on the indicator window of the at-home pregnancy test I held in my hand.

  • A Texas chef is tackling food scarcity and income inequality by opening farms in Black communities Link
    Businessweek Tue 09 Aug 2022 15:30
    Kendleton, Texas, when the tiny community was established more than a century and a half ago. After the Civil War ended in 1865, formerly enslaved Americans purchased plots from a plantation owner to harvest cotton, corn, and wheat, and to grow produce for their families. But over the years the farmland has been increasingly dedicated to raising cows, pigs, and chickens, or gone unused because of competition from bigger agribusinesses. Now, few of the 339 residents, 77% of whom are Black, farm their own properties—and Kendleton, which is in Fort Bend County and a 45-minute drive southwest of Houston, is considered a food desert. The nearest supermarkets with any sizable quantity of fresh fruits and vegetables are more than 20 miles away in Richmond.

    To address the lack of fresh produce and help residents reconnect with their farming roots,

  • RT @bponsot: Today would be a great day to read this exceptional @JoshuaGreen story from the Big Take archives: Link
    Businessweek Tue 09 Aug 2022 15:30
  • Police departments often lack the resources and training to respond to sextortion cases effectively. So one victim took matters into their own hands Link
    Businessweek Tue 09 Aug 2022 14:35

    Natalie Claus was getting accustomed to her sorority and preparing for winter break one evening in December 2019 when people she knew began receiving unusual messages from her. These Snapchat messages, which contained nude photographs of Claus, went to her friends, a cousin, an ex-boyfriend, and dozens of others she knew, more than 100 people in all. Some of the recipients responded with enthusiasm, others with confusion, as if Claus had played a bad joke. But one of her friends, Katie Yates, immediately recognized the messages as an online attack—and knew just how Claus should respond.

    Yates was also a student at the State University of New York College at Geneseo, 40 miles south of Rochester, where Claus was a sophomore. Several months earlier, after Yates reported being sexually assaulted, someone had begun sending her abusive messages on social media. Feeling like she wasn’t getting enough support on campus, Yates began researching ways to identify her harasser.

  • As embryos gain new 'personhood' protections, families who rely on IVF are bracing for battle Link
    Businessweek Tue 09 Aug 2022 14:10
  • How China’s WeChat became so powerful it could have posed a real threat to Beijing’s rule Link
    Businessweek Tue 09 Aug 2022 14:05

    Imagine for a second life before smartphones. Simple tasks—ordering takeout, staying in touch—become frustratingly difficult, never mind dealing with emergencies. In China that’s sort of what it’s like to live without

  • RT @wealth: Roman Abramovich's £4 billion London fortune has crumbled Link
    Businessweek Tue 09 Aug 2022 14:05

    Roman Abramovich’s cream-colored Kensington mansion has more than a dozen bedrooms and police vans posted at each end of its tree-lined street. Nearby neighbors include British royals, steel magnate Lakshmi Mittal and Warner Music Group owner Len Blavatnik.

    It’s one of several London assets the Russian billionaire acquired in recent decades that have helped make the city the hub of his fortune. But that foothold has proven tenuous in recent months as his prize possessions in the English capital — from Chelsea Football Club to luxury homes to a stake in London-based steel group Evraz Plc — have been sold or frozen following Russia’s invasion of Ukraine.

  • RT @luxury: Where to travel in Europe while the US dollar is strong Link
    Businessweek Tue 09 Aug 2022 14:05
    two decades.

    For travelers, the news rang like a dinner bell, especially with the August high season approaching. Two years of lockdowns and border restrictions have Americans desperate to visit the Continent, eager to

  • RT @luxury: Now we know the details about the new electric Meyers Manx buggy Link
    Businessweek Tue 09 Aug 2022 14:05

    Meyers Manx, the groovy little dune buggy that became famous when Steve McQueen drove one in 1968’s The Thomas Crown Affair, is going electric.

    The Meyers Manx 2.0 Electric will run on lithium-ion batteries and two electric motors, one positioned over each rear wheel. Top speed has yet to be determined, but it will have a zero-to-60 mph sprint time of 4.5 seconds, according to the California-based company. It will get up to 202 horsepower with as many as 300 miles of range, depending on the variant ordered. As with other EVs, off-road driving in sand or dirt will deplete the battery faster than when the buggy is on pavement.

  • RT @wealth: Home listings in the US have been increasing at record rates, another sign of a cooldown in the housing market https://t.co/pYE…
    Businessweek Tue 09 Aug 2022 14:05
  • Deep in the Cambodian jungle, centuries-old statues were looted from ancient cities before being transported to museums and collections around the world. And one man was at the center of it all. This is the tale of Dynamite Doug Link
    Businessweek Tue 09 Aug 2022 13:35

    The looters arrived late in the afternoon at Koh Ker, a ruined 10th century city in northern Cambodia. They made their way through scrubby jungle to Prasat Krachap, a compact stone temple dedicated to the Hindu god Shiva and his son Skanda. They walked carefully. The countryside was strewn with land mines, and on another expedition some of the looters had watched a wandering cow be blown up.

  • Phil Mickelson and 10 other professional golfers sued the PGA claiming a suspension for joining the Saudi Arabia-financed LIV Tour is hurting their careers. But for 10 of those 11 players, defecting from the PGA is earning them much, much more Link
    Businessweek Tue 09 Aug 2022 13:24

    That appears to be the formula for LIV, the new professional golf tour founded by Greg Norman and financed by Saudi Arabia that is pouring money into the sport like never before and drawing defectors from the long-established PGA tour.

  • Where to travel in Europe while the US dollar is strong Link
    Businessweek Tue 09 Aug 2022 13:09
    two decades.

    For travelers, the news rang like a dinner bell, especially with the August high season approaching. Two years of lockdowns and border restrictions have Americans desperate to visit the Continent, eager to

  • Now we know the details about the new electric Meyers Manx buggy Link
    Businessweek Tue 09 Aug 2022 13:04

    Meyers Manx, the groovy little dune buggy that became famous when Steve McQueen drove one in 1968’s The Thomas Crown Affair, is going electric.

    The Meyers Manx 2.0 Electric will run on lithium-ion batteries and two electric motors, one positioned over each rear wheel. Top speed has yet to be determined, but it will have a zero-to-60 mph sprint time of 4.5 seconds, according to the California-based company. It will get up to 202 horsepower with as many as 300 miles of range, depending on the variant ordered. As with other EVs, off-road driving in sand or dirt will deplete the battery faster than when the buggy is on pavement.

  • The real value in Amazon's $1.7 billion deal for Roomba maker iRobot? Mapping your home Link
    Businessweek Tue 09 Aug 2022 12:34
    iRobot Corp., the maker of the Roomba vacuum cleaner. And yes, Amazon will make money from selling those gadgets. But the real value resides in those robots’ ability to map your house. As ever with Amazon, it’s all
  • The NFT video game Axie Infinity was supposed to be a crypto paradise where people could earn a living. Instead, it became a web3 cautionary tale Link
    Businessweek Tue 09 Aug 2022 12:04

    Axie Infinity’s vision of a “play-to-earn” video game has crumbled, and the company behind it now tells the players who bought into the hype it was never about the money, anyway.

  • A plant-based food company is using AI to change its recipes on the fly so it can sidestep supply chain backlogs Link
    Businessweek Tue 09 Aug 2022 11:54
    NotMilk—NotCo’s plant-based milk—are pineapple juice, cabbage juice, and pea protein. Its NotBurger contains beet juice powder, pea and rice proteins, bamboo fiber, and chia protein concentrate. But Giuseppe’s work is never done, and the war in Ukraine is disrupting supplies of a key component in both products:
  • To stay relevant, Jazzercise has weaved in modern workout trends and music while keeping true to its roots Link
    Businessweek Tue 09 Aug 2022 11:34
    Jazzercise Inc., is dancing her butt off. From her raised platform, Missett enthusiastically calls out directions and words of encouragement, her voice projected through speakers. Dozens in the brightly lit studio follow, pivoting, shaking, swerving, and sweating. An hour earlier, Missett’s daughter, Shanna Missett Nelson, was teaching her own fitness class, with a guest appearance on the platform by her own daughter Skyla, their affirmations busting through a nonstop playlist of pop anthems.

    Founded by Missett in 1969, the closely held company, which is based in Carlsbad, Calif., has grown to encompass 8,000 franchisees teaching 32,000 classes each week worldwide. Even as much of the fitness industry contracted during the Covid-19 pandemic, Jazzercise had revenue of $73 million last year. How then is it that an exercise business that harks back to the era of Jane Fonda workout tapes, neon spandex, and legwarmers remains here in 2022—and is thriving? It’s thanks to a...

  • With economic signals all over the place, trying to determine whether we’re in a recession is like trying to read tea leaves in a typhoon Link
    Businessweek Tue 09 Aug 2022 11:14
    “recession.” As in: “Are we in one or not?” We’ve had one classic sign of an economic slowdown: two quarters of contraction in US gross domestic product. But that’s been accompanied by healthy wage growth and employment and continued consumer spending. Complicating the picture still further, measures of consumer confidence are way down as people face rising prices for everything from gas to housing.

    Financial writer and social media influencer

  • It's becoming more dangerous to give birth in the US. And in Texas, maternity wards are in short supply Link
    Businessweek Tue 09 Aug 2022 11:09

    Once a week, Adrian Billings drives his white Chevy pickup from his home in Alpine, Texas, to Presidio, a city along the Mexican border. This summer he’s been taking his son Blake, who’s home from college, with him. The drive, through mountains and desert on a two-lane highway across which actual tumbleweeds roll, takes an hour and a half.

    Billings is a family doctor, one of only a handful in this part of West Texas. He offers a one-stop shop for his patients’ ailments: heart murmurs, kidney stones, etc. Most of the time he works in Alpine or the nearby city of Marfa. But he makes the weekly drive to Presidio because, without doctors like him, it wouldn’t have medical care. There’s no hospital and no full-time doctor. His clinic, which opened in 2007 with the help of government grants, is the only access residents have to even a local pharmacy.

  • Dall-E has been a hit online so far, but its creators are just beginning to explore the tool’s practical implications. Link
    Businessweek Tue 09 Aug 2022 11:04
    Wall-E), the software produces original pictures from text prompts of as many as 400 characters or images that users upload. Someone might ask for a portrait of Shrek in the style of the Mona Lisa, or upload a file of the painting Girl With a Pearl Earring and ask Dall-E to imagine it as a behind-the-scenes glimpse at a fashion shoot starring its subject.

    Like many successful products that come from Silicon Valley startups, Dall-E became a phenomenon during a testing period when it was available to only a relatively small group. The hype built with online chatter from early adopters, who documented the highlights on Twitter and Reddit, giving the broader world a taste of what was to come.

  • An ambitious train line in Mexico is being built on fragile ground and threatening the environment — but AMLO is determined to complete it Link
    Businessweek Tue 09 Aug 2022 10:34

    The clear-cut through the forest in Mexico’s southeast is long (the section shown above will be 121 kilometers, about 75 miles), 40 meters (131 feet) wide, and as straight as modern engineering can make it. It’s the right of way for a train—the Maya Train, or Tren Maya, which will run for 1,554 kilometers and connect five states in the Yucatán Peninsula. This is arguably President Andrés Manuel López Obrador’s most ambitious infrastructure project, and he’s vowed, repeatedly, to have it ready by the end of next year.

  • Weak digital privacy protections could turn web searches and text messages into post-Dobbs tools of oppression Link
    Businessweek Tue 09 Aug 2022 10:04

    Abortion-rights activists are warning of the consequences of weak digital privacy protections in a post-Dobbs landscape. Even before the decision, law enforcement had been honing tactics that could now be used against people seeking an abortion in states where it’s banned—or beyond.

    Academics have found that searches for

S&P500
VIX
Eurostoxx50
FTSE100
Nikkei 225
TNX (UST10y)
EURUSD
GBPUSD
USDJPY
BTCUSD
Gold spot
Brent
Copper
Last update . Delayed by 15 mins. Prices from Yahoo!

  • Top 50 publishers (last 24 hours)