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As Anger Toward Belarus Mounts, Recall The 2013 Forced Landing Of Bolivia"s Plane To Find Snowden

As Anger Toward Belarus Mounts, Recall The 2013 Forced Landing Of Bolivia's Plane To Find Snowden .....»»

Category: worldSource: nytMay 25th, 2021

Blow up your Instagram with these 10 over-the-top hotels in the US

Here are 10 cool, photogenic US hotels to post about on Instagram, with over-the-top decor, dramatic architecture, and eccentric rooms. When you buy through our links, Insider may earn an affiliate commission. Learn more. The Saguaro When choosing a hotel, social media-minded travelers place a high value on a visual appeal. Many hotels design with Instagram in mind, with decor ranging from highly curated to eccentric. We found the most photogenic hotels across the US with options for all budgets and travelers. Table of Contents: Masthead StickyThe saying goes, "pics or it didn't happen," and when it comes to travel, that is especially true. After all, vacation visuals that get posted to social media serve as photogenic proof that you had an incredible time away, inspiring others' travel decisions, and perhaps even a bit of travel envy.Whether or not you're an influencer commanding a major social media presence, it's nice to visit somewhere that is visually appealing, both on and off the 'Gram. That's why we rounded up some of the most Instagram-worthy hotels across the United States, each catering to a variety of aesthetics.You can be sure that each and every hotel on this list has gorgeous decor that'll photograph perfectly, even if you're relatively inexperienced behind the camera.Browse all the most Instagrammable hotels in the US below, or jump directly to a specific area here.The most Instagrammable hotels in the USFAQ: Instagrammable hotelsHow we selected the most Instagrammable hotelsMore photogenic accommodationsThese are the most Instagrammable hotels in the US, sorted by price from low to high. The Roxbury This suite is inspired by the tale of "Cinderella" with a bathroom entrance fashioned out of her pumpkin carriage. Roxbury Hotel Book The RoxburyCategory: Budget Location: Roxbury, NYTypical starting/peak prices: $95/$138Best for: Couples, families, friendsOn-site amenities: Pool, spa, hiking trails (to a waterfall!)Pros: Between the property's two hotels, there are about two dozen room themes, meaning there's something to tickle everyone's fancy.Cons: There's no on-site restaurant, but daily breakfast is included. Guests are charged to use the pool (a one-time, not daily fee), which eliminates the need for a resort fee.When it comes to themed hotel rooms, no one does them quite like The Roxbury in New York's Catskills region.Made up of two hotels, the Roxbury Motel and the Roxbury at Stratton Falls, there are 28 whimsical rooms and suites. Entry-level rooms are fairly traditional, though still bold in colors, but it's the suites and cottages that really dazzle.Themes range from Maryann's Coconut Cream Pie, where the ceiling looks as if it's coated in undulating meringue; and The Wizard's Emeralds, a riff on "The Wizard of Oz" complete with a yellow brick (or, in this case, yellow tile) road and a glittering green bedspread worthy of the Emerald City. Additionally, the Tower Cottages are standalone duplex suites with themes like the Faerie Forest, where interiors resemble whimsical woods plucked out of a fairy tale, with flowers, ferns, mushrooms, and gnarled tree branches adorning every inch.The Roxbury also has a pool with a spa that appears warped to create the illusion that it's defying gravity, alongside a hot tub, dry sauna, and treatment rooms. There are also hiking trails, one of which leads to a 50-foot waterfall.COVID-19 procedures are available here. The Saguaro Palm Springs The colorful Saguaro is one of Palm Springs' most recognizable hotels. Tripadvisor Book The Saguaro Palm SpringsCategory: BudgetLocation: Palm Springs, CATypical starting/peak prices: $129/$350Best for: Couples, friends, solo travelersOn-site amenities: Pool, restaurants, bars, gym, spaPros: The pool is the place to see and be seen — and to take your Instagrams. Pool parties are particularly boisterous, and the rainbow backdrop of the hotel brightens up any photographs.Cons: There's a mandatory $38 (plus tax) resort fee, which makes seemingly affordable room rates less appealing.Palm Springs is a desert oasis primarily known for two things: amazing midcentury architecture and a raucous party scene, particularly at its hotels. The Saguaro Palm Springs is no exception to either.The hotel was built in 1971 but underwent a major renovation in 2012 by the same group behind the ultra-hip Ace Hotels. That refurbishment brought about the brightly painted exterior with a gradient rainbow effect for which the hotel is best known. These vibrant, cheerful colors carry throughout the entire property, most notably in the courtyard pool area. Paired with swaying palm trees, bright yellow umbrellas, and the cool blue of the pool, and it's positively photogenic.  That pool area, by the way, is one of the hotel's biggest draws. Lively parties are thrown regularly and often spill over into the Saguaro's restaurants and bars. Be sure to reserve a cabana in advance for the best spot for photos.Inside, guest rooms are similarly colorful with lemon yellow walls, royal purple carpets, and furniture done up in lime green, hot pink, or electric orange alongside technicolor striped bedspreads.COVID-19 procedures are available here. TWA Hotel Built into an old airline terminal, the TWA hotel offers a retro feel infused with heavy doses of '60s glam and nostalgia. TWA Hotel/David Mitchell Book TWA HotelCategory: BoutiqueLocation: New York, NYTypical starting/peak prices: $200/$280Best for: Couples, families, friends, solo travelers, aviation and design enthusiastsOn-site amenities: Restaurants, bars, gym, rooftop pool, event space, museums displays, ice/roller rinkPros: The main building is legendary among aviation geeks and architecture lovers, but anyone who appreciates funky design will enjoy the hotel. Don't miss the cocktail bar inside an old airplane. And, of course, if you're flying out of JFK, it doesn't get more convenient than staying here.Cons: The rooms are pretty small, even the suites. Mixed reviews cite cleanliness issues, too. You're far better off hanging out in the public spaces, which are more visually interesting anyway.As the only hotel within John F. Kennedy International Airport, the TWA Hotel is, of course, a place for those who need a place to rest pre- or post-flight. But it's also so much more, as a design-forward gem that feels like a slice of preserved history with front-row views of airplanes taking off and landing.Designed by midcentury architecture icon Eero Saarinen in 1962 (originally as a flight center for Trans World Airlines), the TWA hotel has jaw-dropping interiors. The main building, which houses the front desk, restaurants, and bars, features soaring, curved white ceilings that are not unlike a Jetsons-style spaceship with bright red carpets, classic midcentury furniture, and an old-school departures/arrivals board. Throughout the hotel and in some guest rooms, enjoy iconic views of the runway as planes land and depart, a boon for aviation enthusiasts. Rooms are small, but feel like you've stumbled onto the set of "Mad Men" with bright red Saarinen-designed Womb chairs, retro TWA travel posters, dark wood paneling, and brass accents on furniture, including a martini bar.Visiting this hotel is a lot like, walking into a time capsule, especially when you enter the hotel's cocktail bar housed within an actual 1958 Constellation airplane.COVID-19 procedures are available here. Madonna Inn The Floral Fantasy is one of 110 over-the-top themed rooms. Tripadvisor Book Madonna InnCategory: BoutiqueLocation: San Luis Obispo, CATypical starting/peak prices: $220/$580Best for: Families, friends, couplesOn-site amenities: Restaurants, bars, bakery, pool, spa, gym, dance floor, boutique, tennis, basketballPros: Every room is unique, meaning you can stay 110 times and have an entirely different experience for each visit. Cons: The decor is undoubtedly kitschy and even borderline gauche, which may not appeal to some guests. For others, it's the entire reason they're here.When it opened in 1958, the Madonna Inn in the midst of San Luis Obispo's wine country, had just 12 rooms. Today, it has 110, from economy kings to three-bedroom suites, and each one has its own absolutely one-of-a-kind, at times tacky, but highly memorable decor.In the Fabulous 50s room, teal walls are framed by pink trim, while gilded mirrors form a focal point in the bathroom. In the Victorian Gardens room, a four-post bed is matched with floral wallpaper, pink walls, and pink-velvet chairs and sofas. And in the Caveman room, the ceiling, walls, and floors are all made with rough-hewn rock, while furnishings are upholstered with animal print to complete the prehistoric theme.The rooms are spread across a 1,000-acre resort, which includes basketball and tennis courts, a pool, a retro gas station (a nod to the hotel's roots as a classic road trip stop, though today you'll find Tesla Superchargers there), a spa, a bakery, and several restaurants and bars.The eclectic decor doesn't stop in the rooms, either. Alex Madonna's Gold Rush Steak House is decked out in topsy-turvy pink and gold colors that recall either the Mad Hatter's tea party or the "Be Our Guest" scene in Beauty and the Beast." Hot pink circular banquettes are trimmed with gold, while a pink floral carpet provides punchy patterns. An organic, tree-like candelabra rises in the center of the room, its golden tendrils supporting dozens of electric candles. COVID-19 procedures are available by phone at 805-543-3000. The Greenbrier Bright colors mix heavily with punchy prints. The Greenbrier Book The GreenbrierCategory: ResortLocation: White Sulphur Springs, WVTypical starting/peak prices: $240/$425Best for: Families, couples, friends, solo travelersOn-site amenities: Restaurants, bars, casino, shopping, pool, tennis, golf, spa, ropes course, bowling, art studio, Cold War bunkerPros: Everything you could possibly want to do at a mountain resort, you can do here, whether falconry or jewelry making. It's almost shocking how many activities are offered.Cons: Some might find the decor a bit too traditional — there are lots of florals — but there's no denying it makes for a great Instagram post.Opened in 1778, the Greenbrier is an iconic American resort in West Virginia, having hosted 27 presidents throughout its history. Naturally, there have been many changes to the property over the centuries, but perhaps the most dramatic was a 1946 redecoration by lauded interior designer Dorothy Draper, who introduced lurid colors and punchy patterns into the historic buildings.Take the Greenbriar Avenue lobby, where black-and-white houndstooth club chairs sit atop bright red carpet, surrounded by teal-and-white striped columns, tropical-print wallpaper, and black-and-white checkered floors. Then in the Victorian Writing Room, rainbow-colored floral armchairs and drapes contrast with forest green walls and a bright red carpet.The guest rooms feature similar idiosyncratic decor, though perhaps not as in-your-face. Entry-level rooms all feature floral wallpaper with floral drapes to match, while higher room tiers have slightly more vibrant approaches to interior design. In the Windsor Club Rooms, you'll likely find brighter pink wallpaper, whole beds are covered by canopies, and furniture and carpets feature gingham or plaid patterns. The Greenbrier is also known for its many on-site activities, ranging from sports facilities, studios, and workshops for creative types to a casino, more than a dozen dining options, and plenty of shopping on the 11,000-acre grounds. But its most unusual amenity is a formerly secret Cold War-era bunker designed to house Congress. It's now declassified and open for tours.COVID-19 procedures are available here. Urban Cowboy Catskills Room designs are a feast for the eyes. Urban Cowboy Catskills Book Urban Cowboy CatskillsCategory: BoutiqueLocation: Big Indian, NYTypical starting/peak prices: $250/$500Best for: Couples, friends, solo travelersOn-site amenities: Restaurant, bar, games room, libraryPros: Despite being a wilderness lodge, there's very strong Wi-Fi for the WFH (or can't-be-disconnected) crowd.Cons: There are often minimum stay requirements, usually two to three nights on weekends.In New York's Catskills region, a popular weekend trip for city dwellers, the Urban Cowboy sits on 68 forested acres with plenty of outdoor recreation, but we wouldn't blame you if you wanted to spend your entire stay indoors.That's because the hotel's 28 accommodations feature super cool decor that focuses on quintessential rustic elements like deer antlers, live-wood furniture, rough-hewn wood beams, and outdoorsy accent pieces like snowshoes or oars. Colorful Native American pattern work covers the ceilings, beds, chairs, and rugs, creating a visual cacophony that feels high-design. And then there's the matter of the absolutely gorgeous copper soaking tubs set in front of big picture windows.This rugged-chic mountain style continues in public spaces, especially in the bar with a massive stone fireplace and columns that look like trees. The vibrant patterns make an appearance, too, from the walls to the sofas to the rugs.COVID-19 procedures are available here. Faena Hotel Miami Beach An attractive pool scene sets a sleek tone. Booking.com Book Faena Hotel Miami BeachCategory: LuxuryLocation: Miami Beach, FLTypical starting/peak prices: $445/$1,350Best for: Couples, friends, familiesOn-site amenities: Restaurants, bars, gym, spa, beach club, kids' clubPros: Despite its opulent, perhaps frenzied look, this is actually a surprisingly family-friendly hotel. Cons: It's 10 blocks north of South Beach, so you're not right in the heart of the action. However, there's plenty to do on-site.If it feels like Faena Hotel Miami Beach is some sort of phantasmagoric movie set, that's because it basically is. Filmmaker Baz Luhrmann and production and costume designer Catherine Martin, a husband-wife team, spearheaded the design of this Mid-Beach property, and they went all out.Public spaces are filled with sumptuous colors, dazzling metallics, and all manners of prints and patterns, from leopard spots to Art Deco geometry. Even the spa, a typically soothing space, is filled with bright colors, a neon-colored pom-pom chandelier, and bird-filled, floral landscape wallpaper.In fact, public areas are absolutely buzzing with visual elements, with a gold-covered woolly mammoth skeleton by the pool (a Damien Hirst artwork) that takes center stage.Guest rooms, however, are a bit more subdued, with white walls and wood floors to keep things grounded, accented by red and turquoise furnishings. Bits of animal print are thrown in for good measure and as subtle reminders of your larger surroundings. COVID-19 procedures are available here. The Inn of the Five Graces Guest rooms, spaces, and even bathrooms are bursts of colors, prints, and international influences. Tripadvisor Book The Inn of the Five GracesCategory: BoutiqueLocation: Santa Fe, NMTypical starting/peak prices: $715/$1,175Best for: Couples, friendsOn-site amenities: Bar, spa, gymPros: A made-to-order breakfast is included, as is a wine and cheese reception on Fridays. The spa's Tibetan-style treatment room is beautiful.Cons: There's no true on-site restaurant, but in-room dining is available via the restaurant next door.From the outside, the Inn of the Five Graces is just another (450-year-old) adobe dwelling in Santa Fe. But inside, it's a global journey along the Silk Road.Public spaces and all 24 rooms burst with colors and patterns, whether from mosaic tiles, Central Asian textiles, or South Asian works of art. The look is definitely maximalist, but the blend of international styles is somehow never overwhelming thanks to the smooth and soothing adobe walls that serve as a calming backdrop. Natural elements like wood-beamed ceilings and stone hearths also provide simple contrast.The boutique property is limited on amenities, though it has an exceptional spa treatment room inspired by Tibetan tradition (both in decor and in therapies), a gym, and in-room dining provided by a neighboring restaurant.The Inn of the Five Graces is a five-minute walk from downtown Santa Fe, but thanks to its global influences, it seems to transport you to the other side of the world.COVID-19 procedures are available here. The Villa Casa Casuarina Gianni Versace's former mansion is now a luxury hotel showcasing his ostentatious style. TripAdvisor Book The Villa Casa CasuarinaCategory: LuxuryLocation: Miami Beach, FLTypical starting/peak prices: $750/$1,400Best for: CouplesOn-site amenities: Pool, restaurant, barPros: The hotel's old-world-inspired grandeur truly is unmatched in Art Deco-filled South Beach.Cons: Because this is a major tourist site in Miami, there can be many people around snapping photos at all hours. Diners at the restaurant are loud, and noise can reach the rooms.Italian fashion designer Gianni Versace was tragically murdered in 1997, but his lavish Miami Beach mansion was preserved to pay homage to his life, and now, operates as a luxury hotel. Today it's called the Villa Casa Casuarina, and was inspired by the Alcázar de Cólon in Santo Domingo, Dominican Republic. The Spanish-style mansion, built in 1930, captivated Versace, who bought it in 1992 and renovated it to suit his extravagant taste. It's still exquisitely over the top.The hotel's suites feature ostentatious decor in various themes. In the Azure Suite, blue-and-white decor abounds with Roman-inspired architectural details, like the medallion-inlaid pediments above the windows in the bedroom and the tromp l'oeil "plasterwork" in the bathroom. In the Signature Suite, however, there's a far more sultry vibe, with animal print upholstery, a sumptuous warm-tone marble bathroom, and gilded furnishings.But the visual highlight of the entire property is the Million Mosaic Pool, which is comprised of thousands of 24-karat gold tiles. COVID-19 procedures are available by phone at 305-908-1462​​. Amangiri Utah's luxury Amangiri resort is a favorite with celebrities. Amangiri Book AmangiriCategory: LuxuryLocation: Canyon Point, UtahTypical starting/peak prices: $1,931/$3,500Best for: CouplesOn-site amenities: Spa, restaurant, bar, poolPros: This is desert minimalism at its finest — the hotel blends perfectly into its landscape with earth-toned decor. The luxury service is unmatched.Cons: This is not the easiest property to get to, as the closest major airports are more than four hours away. But the remote location is one of the many reasons why people visit.Arguably one of the most exclusive resorts in the US, Amangiri is a lesson in understated elegance. Architecturally, the sleek hotel is designed to blend in with the stark, rocky landscape surrounding its 600 desert acres in Utah, with color palettes that match near perfectly.Despite the indulgent luxury price tag, everything here is understated. Furnishings are made of sinuous wood or matte concrete with white upholstery to maximize the natural surroundings, which are often framed by views so beautiful, they appear like a work of art. With so many clean lines, use the sky for color and take pictures at different times of day to create variation. Though it'd be easy to rest in your luxurious suite all day long, you'll want to spend time in the dramatic Aman Spa, which covers 25,000 square feet. With looming concrete walls, it can at times feel cavernous, akin to the deep canyons found just a few miles away. While expensive, the rate covers all meals (sans alcohol), some activities, and some spa treatments, too. Stunning nature, hiking, horseback riding, or climbing, are all activities that await. COVID-19 procedures are available here. FAQ: Instagrammable hotels What are other unique hotels in the US?For unusual hotels, consider the Dog Bark Park Inn in Cottonwood, Idaho, where the main building is shaped like a beagle; ​​The Inn at Christmas Place in Pigeon Forge, Tennessee, where Christmas is celebrated year-round; and the Railroad Park Resort in Dunsmuir, California, where guests sleep in converted train cars.How do I find cool hotels to stay in?If you're looking for an Instagrammable hotel, head to Instagram to get inspired by other travelers. Search hashtags like #beautifulhotels or #coolhotels. Or trust the experts, like us!What makes a hotel Instagrammable?Beauty is in the eye of the beholder. Styles that some might consider Instagram-worthy might not be quite right for the aesthetic of your feed. But in general, bold interior design is key or a stunning setting. And bold doesn't necessarily mean maximalist. A stark, minimalist interior can be visually dynamic in photographs, too.What are some of the most photogenic hotels in the world?There's no shortage of beautiful hotels in the world, whether you're looking for the classic Italian style of Villa d'Este on Lake Como, the over-the-top safari lodge Ol Jogi in Kenya's Laikipia region, or the futuristic ME by Meliá Dubai, designed by Zaha Hadid. How we selected the most Instagrammable hotels in the US As a travel writer who focuses on architecture and design, I determined that every hotel has photo-worthy design elements, whether in the guest rooms, public spaces, or exterior areas.Each property on the list is highly rated on traveler review sites like TripAdvisor, Booking.com, and Expedia.High-design hotels range greatly in budget. We've selected properties from each end of the spectrum; they cost anywhere from $95 to $$3,500 per night.Tastes vary, so we've picked a selection of decor styles. There's everything from kitschy-themed suites to magazine-worthy interior design.While COVID-19 policies vary from state to state, these hotels still have strict health and safety policies in place to protect both guests and staff. More photogenic hotels The Setai Miami Beach The best luxury hotels in the USThe best themed hotel suites for familiesThe best bucket-list Airbnbs in the US Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Tech Driven NASDAQ Soars Again

Tech Driven NASDAQ Soars Again Zacks Ultimate, This is Brian Bolan filing in for the Ultimate Editor Jim Giaquinto.  Jim has some incredible foresight … not into the markets per say, but just for taking the day off when the market moves in a big way.  I think I will have to start informing my readers ahead of time when Jim is taking off… the move would be to put on a straddle options trade as we don’t know which way it will go, but it will go one way in a big way! The way the market went today was up.  Up, up and away for the NASDAQ as that index posted a gain 2.5% on the day.  The Dow fought back from being in the red most of the day and closed with a small gain of about 9 points thanks to a flurry of selling near the close.  The S&P 500  was up 0.84% and saw some selling at the close, but nothing like what was seen in the Dow Jones. I wanted to make an addition in Tech Innovators today, but I was waiting for a pull back that never came. A former boss used to say if you are waiting for a pull back you are timing the market… or at least trying to and that is just what I feel like today.  I tried to time an entry when I just should have pulled the trigger.  The NASDAQ was up almost 100 points and wanted it to be up only 85 points.  Then is was up 130 points and I begged for a 30 retreat to allow me to enter.  Then it was up 165 points and I figured the ship had sailed and it might even be a good short entry.  Then we got to +200 and later +250. There is a significant tailwind for tech stocks.  The combination of unprecedented stimulus and a favorable market environment has made valuations start to inflate.  Not balloon, just inflate.  Staples are not the fad, nor are financials.  Its tech, tech and more tech. Broader Market There was plenty of talk on Twitter over the weekend about vaccine announcements.  From what I saw, you would have thought that we would get 3 or ever 4 announcements so I dragged my feet a little on my morning dog walk so I could be in front of the computer for the news.  There really wasn’t anything to write home about, so Buckeye and I had a little warmer than expected walk. That said, there have been surges in several states… but we continue to find out that there are lots of bad numbers in the system.  An Ohio man was tested 15 times, while in the hospital with COVID, and you guessed it, each time he still had it… but each time was counted as a new instance of COVID.  This could be a one off problem, but there are also tons of issues in FL as well.  The numbers we should be watching are the ICU bed rates --- how many beds are available.  The deaths are falling as some new treatments are being tested, and that is great news… but it is even better when people stop getting sick from COIVD at all. I saw on TV that the S&P was positive for the year… and that has to really burn the shorts.  A year that saw an economic shutdown and a market crash has stocks basically flat on the year.  That is amazing.  But what is the lesson?  You cannot fight the Fed… they are pouring money into the system and some of it is landing in the lap of fund managers and they are not keeping it as cash.  That is why I want to be fully invested. Advancers beat out decliners today, but only by a small measure as the tech names really skewed todays action.  Take them out of the equation and the market finishes lower.  New highs blistered to 400+ which is almost what I would consider a frothy number… but recall all the pessimism out there and how the market loves to humble the naysayers.  Portfolio Moves Jeremy Mullin is not only the head of Counter Strike but he also heads up Commodity Innovators as well. Today I see he sold VanEck Gold Miners (GDX) for a 32% gain.  He also moved to add Cleveland Cliffs (CLF) to the portfolio today. Mr. Mullin is bullish on iron ore and steel prices as he looks to a resurgence in global demand to keep those prices rising.  His gold play was a longer term hold, but he still has some other exposure to the space should the miners continue to roll higher. BlackBox Trader made a slew of moves today as it normally does on Monday. This service sold five previous positions: DR Horton Inc (DHI), Sally Beauty Holdings (SBH), PulteGroup (PHM), Deutsche Bank (DB) and Cheniere Energy (LNG). The algo selected 5 new names that were added today: Hansebrands Inc (HBI), Caesars Entertainment (CZR), Office Depot (ODP), Berry Global Corp (BERY) and Robert Half Intl (RHI). This wouldn’t be a complete write up without a little self promotion.  My mother used to say “self praise stinks” – actually, she still says this and hates when I toot my own horn.  I am more in the camp of “self praise pays” because who else in this world thinks I am as great as I think I am?  I say that with my tongue firmly implanted in my cheek. That said, Tech Innovators is crushing is, with TSLA leading the way up 291% since mid March.  I have no plans to sell this stock and I see it speeding north of $2000 in the near future.  TWOU is up 125% over the same time period and those two names sit atop my Innovators Series service.  Home Run Investor has two names posting gains of 100% or more.  The health of that portfolio is super strong with 13 of the 14 names in the green and lone red number is only -2.8%. Stocks Under $10 is my other service that has its own pair of 100%+ winners.  Expect some action in that service tomorrow as there are only 13 names out of a maximum of 15 for that service. Jim will return tomorrow with a more balanced view across all the portfolios… so be sure to sign up for the three that I manage to hear more from me. See you soon, Brian Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

A chemical spill on an American Airlines flight knocked 2 crew members out and forced the plane into an emergency landing

Flickr/Oliver Holzbauer An American Airlines flight scheduled to f.....»»

Category: topSource: businessinsiderOct 22nd, 2019

Prince William and Kate Middleton"s plane was forced to abort landing due to a "terrifying electrical storm" in Pakistan

Peter Nicholls - Pool/Getty Images The Duke and Duchess of Cambridge's plane was.....»»

Category: topSource: businessinsiderOct 17th, 2019

41 people dead after an Aeroflot plane burst into flames during an emergency landing at a major Moscow airport

41 people were killed when an Aeroflot passenger plane burst into flames and was forced to make an emergency landing at a major Moscow airport Sunday evening.  The Russian Investigative Committee .....»»

Category: topSource: businessinsiderMay 5th, 2019

Southwest ferry flight on Boeing 737 Max makes emergency landing

A Southwest flight flown on a Boeing 737 Max aircraft was forced to make an emergency landing at Orlando International Airport after the plane encountered engine troubles Tuesday. Southwest Flight 8701 was operating as a ferry flight, the company s.....»»

Category: topSource: bizjournalsMar 27th, 2019

Lululemon has made a big comeback since its sheer pants nightmare

Remember the sheer pants debacle for yoga apparel company Lululemon in 2013? Lululemon was forced to recall black yoga pants that revealed just a little too much......»»

Category: topSource: cnnApr 25th, 2018

Southwest Airlines Engine Failure Results in First Fatality on U.S. Airline in 9 Years

The plane made an emergency landing. An engine failure that forced Southwest Airlines Flight 1380 to make an emergency landing ha.....»»

Category: europeSource: fortuneApr 17th, 2018

Southwest Flight 861 makes emergency landing in Dallas after "pressurization event" - CBS News

CBS NewsSouthwest Flight 861 makes emergency landing in Dallas after "pressurization event"CBS NewsLast Updated May 14, 2018 11:03 AM EDT. DALLAS -- A Southwest Airlines plane was forced to make an emergency landing Saturday in Dallas. CBS/Dallas Fort.....»»

Category: topSource: googlenewsMay 14th, 2018

Sichuan Airlines pilot was "sucked halfway" out of window

The co-pilot of a Sichuan Airlines flight that was forced to make an emergency landing on Monday was “sucked halfway” out of the plane after a cockpit windshield blew out, local media reported citing the aircraft’s captain. Grace Lee reports......»»

Category: videoSource: reutersMay 15th, 2018

Southwest hopes $49 fares will draw customers after its first passenger death

One month after an engine on flight 1380 blew apart and forced the plane to make an emergency landing, Southwest announced a rebooted marketing plan......»»

Category: topSource: washpostMay 16th, 2018

A JetBlue plane was forced to make an emergency landing after colliding with a bird (JBLU)

AP JetBlue Flight 2216 made an emergenc.....»»

Category: topSource: businessinsiderMay 24th, 2018

A bomb threat forced a United Airlines plane to make an emergency landing in Ireland (UAL)

REUTERS/Arnd Wiegmann United Airlines Flights 971 made an emergency landing in Shannon, Ireland on Monday. Reports indicate a bomb threat was discovered on board the Boeing 767-300. According to reports, the threat wa.....»»

Category: topSource: businessinsiderJun 11th, 2018

Merkel"s plane makes emergency stop, tech issues reported

A plane carrying German Chancellor Angela Merkel to the Group of 20 meeting in Argentina was forced to make an unscheduled landing Thursday night in western Germany, reportedly due to technical problems......»»

Category: topSource: foxnewsNov 29th, 2018

Futures Rise On Taper, Evergrande Optimism

Futures Rise On Taper, Evergrande Optimism US index futures jumped overnight even as the Fed confirmed that a November tapering was now guaranteed and would be completed by mid-2022 with one rate hike now on deck, while maintaining the possibility to extend stimulus if necessitated by the economy. Sentiment got an additional boost from a strong showing of Evergrande stock - which closed up 17% - during the Chinese session, which peaked just after Bloomberg reported that China told Evergrande to avoid a near-term dollar bond default and which suggested that the "government wants to avoid an imminent collapse of the developer" however that quickly reversed when the WSJ reported, just one hour later, that China was making preparations for Evergrande's demise, and although that hammered stocks, the report explicitly noted that a worst-case scenario for Evergrande would mean a partial or full nationalization as "local-level government agencies and state-owned enterprises have been instructed to step in only at the last minute should Evergrande fail to manage its affairs in an orderly fashion." In other words, both reports are bullish: either foreign creditors are made whole (no default) as per BBG or the situation deteriorates and Evergrande is nationalized ("SOEs step in") as per WSJ. According to Bloomberg, confidence is building that markets can ride out a pullback in Fed stimulus, unlike 2013 when the taper tantrum triggered large losses in bonds and equities. "Investors are betting that the economic and profit recovery will be strong enough to outweigh a reduction in asset purchases, while ultra-low rates will continue to support riskier assets even as concerns linger about contagion from China’s real-estate woes." That's one view: the other is that the Fed has so broken the market's discounting ability we won't know just how bad tapering will get until it actually begins. “The Fed has got to be pleased that their communication on the longer way to tapering has avoided the dreaded fear of the tantrum,” Jeffrey Rosenberg, senior portfolio manager for systematic fixed income at BlackRock Inc., said on Bloomberg Television. “This is a very good outcome for the Fed in terms of signaling their intent to give the market information well ahead of the tapering decision.” Then there is the question of Evergrande: “With regards to Evergrande, all those people who are waiting for a Lehman moment in China will probably have to wait another turn,” said Ken Peng, an investment strategist at Citi Private Bank Asia Pacific. “So I wouldn’t treat this as completely bad, but there are definitely a lot of risks on the horizon.” In any case, today's action is a continuation of the best day in two months for both the Dow and the S&P which staged a strong recovery from two-month lows hit earlier in the week, and as of 745am ET, S&P 500 E-minis were up 25.25 points, or 0.6%, Dow E-minis were up 202 points, or 0.59%, while Nasdaq 100 E-minis were up 92.0 points, or 0.60%. In the premarket, electric vehicle startup Lucid Group rose 3.1% in U.S. premarket trading. PAVmed (PVM US) jumps 11% after its Lucid Diagnostics unit announced plans to list on the Global Market of the Nasdaq Stock Market.  Here are some of the biggest movers today: U.S.-listed Chinese stocks rise in premarket trading as fears of contagion from China Evergrande Group’s debt crisis ease. Blackberry (BB US) shares rise 8.7% in premarket after co.’s 2Q adjusted revenue beat the average of analysts’ estimates Eargo (EAR US) falls 57% in Thursday premarket after the hearing aid company revealed it was the target of a Justice Department criminal probe and withdrew its forecasts for the year Amplitude Healthcare Acquisition (AMHC US) doubled in U.S. premarket trading after the SPAC’s shareholders approved the previously announced business combination with Jasper Therapeutics Steelcase (SCS US) fell 4.8% Wednesday postmarket after the office products company reported revenue for the second quarter that missed the average analyst estimate Vertex Energy Inc. (VTNR US) gained 2.1% premarket after saying the planned acquisition of a refinery in Mobile, Alabama from Royal DutVTNR US Equitych Shell Plc is on schedule Synlogic (SYBX US) shares declined 9.7% premarket after it launched a stock offering launched without disclosing a size HB Fuller (FUL US) climbed 2.7% in postmarket trading after third quarter sales beat even the highest analyst estimate Europe's Stoxx 600 index rose 0.9%, lifted by carmakers, tech stocks and utilities, which helped it recover losses sparked earlier in the week by concerns about Evergrande and China’s crackdown on its property sector. The gauge held its gain after surveys of purchasing managers showed business activity in the euro area lost momentum and slowed broadly in September after demand peaked over the summer and supply-chain bottlenecks hurt services and manufacturers. Euro Area Composite PMI (September, Flash): 56.1, consensus 58.5, last 59.0. Euro Area Manufacturing PMI (September, Flash): 58.7, consensus 60.3, last 61.4. Euro Area Services PMI (September, Flash): 56.3, consensus 58.5, last 59.0. Germany Composite PMI (September, Flash): 55.3, consensus 59.2, last 60.0. France Composite PMI (September, Flash): 55.1, consensus 55.7, last 55.9. UK Composite PMI (September, Flash): 54.1, consensus 54.6, last 54.8. Commenting on Europe's PMIs, Goldman said that the Euro area composite PMI declined by 2.9pt to 56.1 in September, well below consensus expectations. The softening was broad-based across countries but primarily led by Germany. The peripheral composite flash PMI also weakened significantly in September but remain very high by historical standards (-2.4pt to 57.5). Across sectors, the September composite decline was also broad-based, with manufacturing output softening (-3.3pt to 55.6) to a similar extent as services (-2.7pt to 56.3). Supply-side issues and upward cost and price pressures continued to be widely reported. Expectations of future output growth declined by less than spot output on the back of delta variant worries and supply issues, remaining far above historically average levels. Earlier in the session, Asian stocks rose for the first time in four sessions, as Hong Kong helped lead a rally on hopes that troubled property firm China Evergrande Group will make progress on debt repayment. The MSCI Asia Pacific Index climbed as much as 0.5%, with Tencent and Meituan providing the biggest boosts. The Hang Seng jumped as much as 2.5%, led by real estate stocks as Evergrande surged more than 30%. Hong Kong shares later pared their gains. Asian markets were also cheered by gains in U.S. stocks overnight even as the Federal Reserve said it may begin scaling back stimulus this year. A $17 billion net liquidity injection from the People’s Bank of China also provided a lift, while the Fed and Bank of Japan downplayed Evergrande risks in comments accompanying policy decisions Wednesday. Evergrande’s stock closed 18% higher in Hong Kong, in a delayed reaction to news a unit of the developer had negotiated interest payments on yuan notes. A coupon payment on its 2022 dollar bond is due on Thursday “Investors are perhaps reassessing the tail risk of a disorderly fallout from Evergrande’s credit issues,” said Chetan Seth, a strategist at Nomura. “However, I am not sure if the fundamental issue around its sustainable deleveraging has been addressed. I suspect markets will likely remain quite volatile until we have some definite direction from authorities on the eventual resolution of Evergrande’s debt problems.” Stocks rose in most markets, with Australia, Taiwan, Singapore and India also among the day’s big winners. South Korea’s benchmark was the lone decliner, while Japan was closed for a holiday In rates, Treasuries were off session lows, with the 10Y trading a 1.34%, but remained under pressure in early U.S. session led by intermediate sectors, where 5Y yield touched highest since July 2. Wednesday’s dramatic yield-curve flattening move unleashed by Fed communications continued, compressing 5s30s spread to 93.8bp, lowest since May 2020. UK 10-year yield climbed 3.4bp to session high 0.833% following BOE rate decision (7-2 vote to keep bond-buying target unchanged); bunds outperformed slightly. Peripheral spreads tighten with long-end Italy outperforming. In FX, the Bloomberg Dollar Spot Index reversed an earlier gain and dropped 0.3% as the dollar weakened against all of its Group-of-10 peers apart from the yen amid a more positive sentiment. CAD, NOK and SEK are the strongest performers in G-10, JPY the laggard.  The euro and the pound briefly pared gains after weaker-than-forecast German and British PMIs. The pound rebounded from an eight-month low amid a return of global risk appetite as investors assessed whether the Bank of England will follow the Federal Reserve’s hawkish tone later Thursday. The yield differential between 10-year German and Italian debt narrowed to its tightest since April. Norway’s krone advanced after Norges Bank raised its policy rate in line with expectations and signaled a faster pace of tightening over the coming years. The franc whipsawed as the Swiss National Bank kept its policy rate and deposit rate at record lows, as expected, and reiterated its pledge to wage currency market interventions. The yen fell as a unit of China Evergrande said it had reached an agreement with bond holders over an interest payment, reducing demand for haven assets. Turkey’s lira slumped toa record low against the dollar after the central bank unexpectedly cut interest rates. In commodities, crude futures drifted lower after a rangebound Asia session. WTI was 0.25% lower, trading near $72; Brent dips into the red, so far holding above $76. Spot gold adds $3.5, gentle reversing Asia’s losses to trade near $1,771/oz. Base metals are well bid with LME aluminum leading gains. Bitcoin steadied just below $44,000. Looking at the day ahead, we get the weekly initial jobless claims, the Chicago Fed’s national activity index for August, and the Kansas City fed’s manufacturing activity index for September. From central banks, there’ll be a monetary policy decision from the Bank of England, while the ECB will be publishing their Economic Bulletin and the ECB’s Elderson will also speak. From emerging markets, there’ll also be monetary policy decisions from the Central Bank of Turkey and the South African Reserve Bank. Finally in Germany, there’s an election debate with the lead candidates from the Bundestag parties. Market Snapshot S&P 500 futures up 0.7% to 4,413.75 STOXX Europe 600 up 1.1% to 468.32 MXAP up 0.5% to 200.57 MXAPJ up 0.9% to 645.76 Nikkei down 0.7% to 29,639.40 Topix down 1.0% to 2,043.55 Hang Seng Index up 1.2% to 24,510.98 Shanghai Composite up 0.4% to 3,642.22 Sensex up 1.4% to 59,728.37 Australia S&P/ASX 200 up 1.0% to 7,370.22 Kospi down 0.4% to 3,127.58 German 10Y yield fell 5.6 bps to -0.306% Euro up 0.4% to $1.1728 Brent Futures up 0.3% to $76.39/bbl Gold spot up 0.0% to $1,768.25 U.S. Dollar Index down 0.33% to 93.16 Top Overnight News from Bloomberg Financial regulators in Beijing issued a broad set of instructions to China Evergrande Group, telling the embattled developer to focus on completing unfinished properties and repaying individual investors while avoiding a near-term default on dollar bonds China’s central bank net-injected the most short- term liquidity in eight months into the financial system, with markets roiled by concerns over China Evergrande Group’s debt crisis Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November Business activity in the euro area “markedly” lost momentum in September after demand peaked over the summer and supply chain bottlenecks hurt both services and manufacturers. Surveys of purchasing managers by IHS Markit showed growth in both sectors slowing more than expected, bringing overall activity to a five-month low. Input costs, meanwhile, surged to the highest in 21 years, according to the report The U.K. private sector had its weakest month since the height of the winter lockdown and inflation pressures escalated in September, adding to evidence that the recovery is running into significant headwinds, IHS Markit said The U.K.’s record- breaking debut green bond sale has given debt chief Robert Stheeman conviction on the benefits of an environmental borrowing program. The 10 billion-pound ($13.7 billion) deal this week was the biggest-ever ethical bond sale and the country is already planning another offering next month A more detailed look at global markets courtesy of Newsquaw Asian equity markets traded mostly positive as the region took its cue from the gains in US with the improved global sentiment spurred by some easing of Evergrande concerns and with stocks also unfazed by the marginally more hawkish than anticipated FOMC announcement (detailed above). ASX 200 (+1.0%) was underpinned by outperformance in the commodity-related sectors and strength in defensives, which have more than atoned for the losses in tech and financials, as well as helped markets overlook the record daily COVID-19 infections in Victoria state. Hang Seng (+0.7%) and Shanghai Comp. (+0.6%) were also positive after another respectable liquidity operation by the PBoC and with some relief in Evergrande shares which saw early gains of more than 30% after recent reports suggested a potential restructuring by China’s government and with the Co. Chairman noting that the top priority is to help wealth investors redeem their products, although the majority of the Evergrande gains were then pared and unit China Evergrande New Energy Vehicle fully retraced the initial double-digit advances. KOSPI (-0.5%) was the laggard as it played catch up to the recent losses on its first trading day of the week and amid concerns that COVID cases could surge following the holiday period, while Japanese markets were closed in observance of the Autumnal Equinox Day. China Pumps $17 Billion Into System Amid Evergrande Concerns China Stocks From Property to Tech Jump on Evergrande Respite Philippines Holds Key Rate to Spur Growth Amid Higher Prices Taiwan’s Trade Deal Application Sets Up Showdown With China Top Asian News European equities (Stoxx 600 +0.9%) trade on the front-foot and have extended gains since the cash open with the Stoxx 600 now higher on the week after Monday’s heavy losses. From a macro perspective, price action in Europe has been undeterred by a slowdown in Eurozone PMIs which saw the composite metric slip to 56.1 from 59.0 (exp. 58.5) with IHS Markit noting “an unwelcome combination of sharply slower economic growth and steeply rising prices.” Instead, stocks in the region have taken the cue from a firmer US and Asia-Pac handover with performance in Chinese markets aided by further liquidity injections by the PBoC. Some positivity has also been observed on the Evergrande front amid mounting expectations of a potential restructuring at the company. That said, at the time of writing, it remains unclear what the company’s intentions are for repaying its USD 83.5mln onshore coupon payment. Note, ING highlights that “missing that payment today would still leave a 30-day grace period before this is registered as a default”. The most recent reports via WSJ indicate that Chinese authorities are asking local governments to begin preparations for the potential downfall of Evergrande; however, the article highlights that this is a last resort and Beijing is reluctant to step in. Nonetheless, this article has taken the shine off the mornings risk appetite, though we do remain firmer on the session. Stateside, as the dust settles on yesterday’s FOMC announcement, futures are firmer with outperformance in the RTY (+0.8% vs. ES +0.7%). Sectors in Europe are higher across the board with outperformance in Tech and Autos with the latter aided by gains in Faurecia (+4.6%) who sit at the top of the Stoxx 600 after making an unsurprising cut to its guidance, which will at least provide some clarity on the Co.’s near-term future; in sympathy, Valeo (+6.6) is also a notable gainer in the region. To the downside, Entain (+2.6%) sit at the foot of the Stoxx 600 after recent strong gains with the latest newsflow surrounding the Co. noting that MGM Resorts is considering different methods to acquire control of the BetMGM online gambling business JV, following the DraftKings offer for Entain, according to sources. The agreement between Entain and MGM gives MGM the ability to block any deal with competing businesses; MGM officials believe this grants the leverage to take full control of BetMGM without spending much. Top European News BOE Confronts Rising Prices, Slower Growth: Decision Guide La Banque Postale Eyes Retail, Asset Management M&A in Europe Activist Bluebell Raises Pressure on Glaxo CEO Walmsley Norway Delivers Rate Lift-Off With Next Hike Set for December In FX, not much bang for the Buck even though the FOMC matched the most hawkish market expectations and Fed chair Powell arguably went further by concluding in the post-meeting press conference that substantial progress on the lagging labour front is all but done. Hence, assuming the economy remains on course, tapering could start as soon as November and be completed my the middle of 2022, though he continued to play down tightening prospects irrespective of the more hawkish trajectory implied by the latest SEP dot plots that are now skewed towards at least one hike next year and a cumulative seven over the forecast horizon. However, the Greenback only managed to grind out marginally higher highs overnight, with the index reaching 93.526 vs 93.517 at best yesterday before retreating quite sharply and quickly to 93.138 in advance of jobless claims and Markit’s flash PMIs. CAD/NZD/AUD - The Loonie is leading the comeback charge in major circles and only partially assisted by WTI keeping a firm bid mostly beyond Usd 72/brl, and Usd/Cad may remain contained within 1.2796-50 ahead of Canadian retail sales given decent option expiry interest nearby and protecting the downside (1 bn between 1.2650-65 and 2.7 bn from 1.2620-00). Meanwhile, the Kiwi has secured a firmer grip on the 0.7000 handle to test 0.7050 pre-NZ trade and the Aussie is looking much more comfortable beyond 0.7250 amidst signs of improvement in the flash PMIs, albeit with the services and composite headline indices still some way short of the 50.0 mark. NOK/GBP/EUR/CHF - All firmer, and the Norwegian Crown outperforming following confirmation of the start of rate normalisation by the Norges Bank that also underscored another 25 bp hike in December and further tightening via a loftier rate path. Eur/Nok encountered some support around 10.1000 for a while, but is now below, while the Pound has rebounded against the Dollar and Euro in the run up to the BoE at midday. Cable is back up around 1.3770 and Eur/Gbp circa 0.8580 as Eur/Usd hovers in the low 1.1700 area eyeing multiple and a couple of huge option expiries (at the 1.1700 strike in 4.1 bn, 1.1730 in 1 bn, 1.1745-55 totalling 2.7 bn and 1.8 bn from 1.1790-1.1800). Note, Eurozone and UK flash PMIs did not live up to their name, but hardly impacted. Elsewhere, the Franc is lagging either side of 0.9250 vs the Buck and 1.0835 against the Euro on the back of a dovish SNB Quarterly Review that retained a high Chf valuation and necessity to maintain NIRP, with only minor change in the ordering of the language surrounding intervention. JPY - The Yen is struggling to keep its head afloat of 110.00 vs the Greenback as Treasury yields rebound and risk sentiment remains bullish pre-Japanese CPI and in thinner trading conditions due to the Autumn Equinox holiday. In commodities, WTI and Brent have been choppy throughout the morning in-spite of the broadly constructive risk appetite. Benchmarks spent much of the morning in proximity to the unchanged mark but the most recent Evergrande developments, via WSJ, have dampened sentiment and sent WTI and Brent back into negative territory for the session and printing incremental fresh lows at the time of publication. Back to crude, newsflow has once again centred around energy ministry commentary with Iraq making clear that oil exports will continue to increase. Elsewhere, gas remains at the forefront of focus particularly in the UK/Europe but developments today have been somewhat incremental. On the subject, Citi writes that Asia and Europe Nat. Gas prices could reach USD 100/MMBtu of USD 580/BOE in the winter, under their tail-risk scenario. For metals, its very much a case of more of the same with base-metals supportive, albeit off-best given Evergrande, after a robust APAC session post-FOMC. Given the gas issues, desks highlight that some companies are being forced to suspend/reduce production of items such as steel in Asian/European markets, a narrative that could become pertinent for broader prices if the situation continues. Elsewhere, spot gold and silver are both modestly firmer but remain well within the range of yesterday’s session and are yet to recovery from the pressure seen in wake of the FOMC. US Event Calendar 8:30am: Sept. Initial Jobless Claims, est. 320,000, prior 332,000; Continuing Claims, est. 2.6m, prior 2.67m 8:30am: Aug. Chicago Fed Nat Activity Index, est. 0.50, prior 0.53 9:45am: Sept. Markit US Composite PMI, prior 55.4 9:45am: Sept. Markit US Services PMI, est. 54.9, prior 55.1 9:45am: Sept. Markit US Manufacturing PMI, est. 61.0, prior 61.1 11am: Sept. Kansas City Fed Manf. Activity, est. 25, prior 29 12pm: 2Q US Household Change in Net Wor, prior $5t DB's Jim Reid concludes the overnight wrap My wife was at a parents event at school last night so I had to read three lots of bedtime stories just as the Fed were announcing their policy decision. Peppa Pig, Biff and Kipper, and somebody called Wonder Kid were interspersed with Powell’s press conference live on my phone. It’s fair to say the kids weren’t that impressed by the dot plot and just wanted to join them up. The twins (just turned 4) got their first reading book homework this week and it was a bit sad that one of them was deemed ready to have one with words whereas the other one only pictures. The latter was very upset and cried that his brother had words and he didn’t. That should create even more competitive tension! Back to the dots and yesterday’s Fed meeting was on the hawkish side in terms of the dots and also in terms of Powell’s confidence that the taper could be complete by mid-2022. Powell said that the Fed could begin tapering bond purchases as soon as the November FOMC meeting, in line with our US economists’ forecasts. He left some room for uncertainty, saying they would taper only “If the economy continues to progress broadly in line with expectations, and also the overall situation is appropriate for this.” However he made clear that “the timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff.” The quarterly “dot plot” showed that the 18 FOMC officials were split on whether to start raising rates next year or not. In June, the median dot indicated no rate increases until 2023, but now 6 members see a 25bps raise next year and 3 members see two such hikes. Their inflation forecasts were also revised up and DB’s Matt Luzzetti writes in his FOMC review (link here) that “If inflation is at or below the Fed's current forecast next year of 2.3% core PCE, liftoff is likely to come in 2023, consistent with our view. However, if inflation proves to be higher with inflation expectations continuing to rise, the first rate increase could well migrate into 2022.” Markets took the overall meeting very much in its stride with the biggest impact probably being a yield curve flattening even if US 10yr Treasury yields traded in just over a 4bp range yesterday and finishing -2.2bps lower at 1.301%. The 5y30y curve flattened -6.7bps to 95.6bps, its flattest level since August 2020, while the 2y10y curve was -4.2bps flatter. So the market seems to believe the more hawkish the Fed gets the more likely they’ll control inflation and/or choke the recovery. The puzzle is that even if the dots are correct, real Fed funds should still be negative and very accommodative historically for all of the forecasting period. As such the market has a very dim view of the ability of the economy to withstand rate hikes or alternatively that the QE technicals are overpowering everything at the moment. In equities, the S&P 500 was up nearly +1.0% 15 minutes prior to the Fed, and then rallied a further 0.5% in the immediate aftermath before a late dip look it back to +0.95%. The late dip meant that the S&P still has not seen a 1% up day since July 23. The index’s rise was driven by cyclicals in particular with energy (+3.17%), semiconductors (-2.20%), and banks (+2.13%) leading the way. Asian markets are mostly trading higher this morning with the Hang Seng (+0.69%), Shanghai Comp (+0.58%), ASX (+1.03%) and India’s Nifty (+0.81%) all up. The Kospi (-0.36%) is trading lower though and is still catching up from the early week holidays. Japan’s markets are closed for a holiday today. Futures on the S&P 500 are up +0.25% while those on the Stoxx 50 are up +0.49%. There is no new news on the Evergrande debt crisis however markets participants are likely to pay attention to whether the group is able to make interest rate payment on its 5 year dollar note today after the group had said yesterday that it resolved a domestic bond coupon by negotiations which was also due today. As we highlighted in our CoTD flash poll conducted earlier this week, market participants are not too worried about a wider fallout from the Evergrande crisis and even the Hang Seng Properties index is up +3.93% this morning and is largely back at the levels before the big Monday sell-off of -6.69%. Overnight we have received flash PMIs for Australia which improved as parts of the country have eased the coronavirus restrictions. The services reading came in at 44.9 (vs. 42.9 last month) and the manufacturing print was even stronger at 57.3 (vs. 52.0 last month). Japan’s flash PMIs will be out tomorrow due to today’s holiday. Ahead of the Fed, markets had continued to rebound from their declines earlier in the week, with Europe’s STOXX 600 gaining +0.99% to narrowly put the index in positive territory for the week. This continues the theme of a relative outperformance among European equities compared to the US, with the STOXX 600 having outpaced the S&P 500 for 5 consecutive sessions now, though obviously by a slim margin yesterday. Sovereign bonds in Europe also posted gains, with yields on 10yr bunds (-0.7bps), OATs (-1.0bps) and BTPs (-3.2bps) all moving lower. Furthermore, there was another tightening in peripheral spreads, with the gap in Italian 10yr yields over bunds falling to 98.8bps yesterday, less than half a basis point away from its tightest level since early April. Moving to fiscal and with Democrats seemingly unable to pass the $3.5 trillion Biden budget plan by Monday, when the House is set to vote on the bipartisan infrastructure bill, Republican leadership is calling on their members to vote against the bipartisan bill in hopes of delaying the process further. While the there is still a high likelihood the measure will eventually get passed, time is becoming a factor. Congress now has just over a week to get a government funding bill through both chambers of congress as well as raise the debt ceiling by next month. Republicans have told Democrats to do the latter in a partisan manner and include it in the reconciliation process which could mean that a significant portion of the Biden economic agenda – mostly encapsulated in the $3.5 trillion over 10 year budget – may have to be cut down to get the entire Democratic caucus on board. Looking ahead, an event to watch out for today will be the Bank of England’s policy decision at 12:00 London time, where our economists write (link here) that they expect no change in the policy settings. However, they do expect a reaffirmation of the BoE’s updated forward guidance that some tightening will be needed over the next few years to keep inflation in check, even if it’s too early to expect a further hawkish pivot at this stage. Staying on the UK, two further energy suppliers (Avro Energy and Green Supplier) ceased trading yesterday amidst the surge in gas prices, with the two supplying 2.9% of domestic customers between them. We have actually seen a modest fall in European natural gas prices over the last couple of days, with the benchmark future down -4.81% since its close on Monday, although it’s worth noting that still leaves them up +75.90% since the start of August alone. There wasn’t much data to speak of yesterday, though US existing home sales fell to an annualised rate of 5.88 in August (vs. 5.89m expected). Separately, the European Commission’s advance consumer confidence reading for the Euro Area unexpectedly rose to -4.0 in September (vs. -5.9 expected). To the day ahead now, the data highlights include the September flash PMIs from around the world, while in the US there’s the weekly initial jobless claims, the Chicago Fed’s national activity index for August, and the Kansas City fed’s manufacturing activity index for September. From central banks, there’ll be a monetary policy decision from the Bank of England, while the ECB will be publishing their Economic Bulletin and the ECB’s Elderson will also speak. From emerging markets, there’ll also be monetary policy decisions from the Central Bank of Turkey and the South African Reserve Bank. Finally in Germany, there’s an election debate with the lead candidates from the Bundestag parties. Tyler Durden Thu, 09/23/2021 - 08:13.....»»

Category: blogSource: zerohedge2 hr. 31 min. ago

Rabobank: We"re In A Charlton Heston Movie, But Which One?

Rabobank: We're In A Charlton Heston Movie, But Which One? By Michael Every of Rabobank We're in a Charlton Heston movie: which one? A reference to Charlton Heston means I lose readers who, despite having the sum of human knowledge at their fingertips, don’t know much recent history. Yet we are all in a Heston movie regardless – we just don’t know which one yet. That’s because markets, who also have the sum of human knowledge at their fingertips, don’t know much recent history either. I will run through the news Heston-ally, and suggest what that means for the movie we are all in. Let’s start with the good news on Covid. Bad as it gets, we are not in 1971’s ‘The Omega Man’, about the last-survivor of a Sino-Soviet biological war. However, the Fed flagged QE tapering. Philip Marey expects a formal announcement in November, with the actual start in December. FOMC Chair Powell expects tapering to end around mid-2022, implying a $20bn reduction in QE per meeting. The Fed’s dot plot shifted upward and moved closer to a first rate hike in 2022, with the participants evenly split between zero and 1-2 hikes; after 2022, it’s a steady pace of 3 hikes per year. The economic projections suggest the FOMC is still confident inflation spikes will be over by Q4 2022 – despite a record 73 ships waiting at LA/LB ports. (For the full report, please see here.) The market reaction, after initial confusion, was short US yields up,…and longer yields down and USD up. Recall how Minsky debt dynamics work - the change in the change is what matters; recall how pyramid schemes work; and recall how each previous attempt to normalize away from QE in an economy stronger than it is now has worked out. Taper tantrum fears? Not in DM, because there is no sign of any strength – thus the flattening curve. But for EM, inflation, stagflation, and policy-error deflation all now stalk the land. (Brazil just hiked rates to 6.25%, as expected: see here for more). See the key scene of 1968’s ‘The Planet of the Apes’ – with a lag. In October we could also see both a US government shutdown and a debt default if the spending and debt bill approved by the House of Representatives yesterday does not pass the Senate. As Philip also notes, this is a game of chicken in which the Democrats try to force the Republicans to share the blame for suspending the debt limit in light of the midterm elections in 2022. He adds that this stand-off is completely unnecessary, and if the Republicans don’t blink, the Democrats can still raise the debt limit and adopt a spending patch through budget reconciliation. However, this will raise the internal pressure in the Democratic Party regarding Biden’s legislative agenda by adding another time constraint (see here). See the chariot race in 1959’s ‘Ben Hur’- but which charioteer is President Biden? “China’s Evergrande to be saved!” says Bloomberg, quoting someone else. “Saved” means being split into three firms and nationalized, with no indication of which investors get how much money back. Given today the struggling firm has to repay $83.5m to USD debt holders, who won’t want cement, unfinished flats, or a nudge-nudge-wink-wink, we shall soon find out. Few observers saw a direct risk of a Lehman moment, despite the dynamic referred to above at play, because there are no truly free actors in Chinese markets. However, this ‘salvation’ is in line with a “Marxification” of the economy. The implications for China and the world are something markets refuse to consider because it would give them indigestion. See the end of 1973’s ‘Soylent Green’ - when markets prefer to see the ‘soy’ and the ‘green’. Energy prices continue to soar, despite official assurances the authorities saw this coming, aren’t surprised, and have clear plans for what to do about it. UK energy firms are toppling, and European economies that were preaching the need for immediate shifts in climate policy are suddenly subsidizing fossil fuels again to prevent a looming 1970’s recessionary-style energy-price shock. Which means other people have to pay more instead. Russia is meanwhile laughing all the way to the bank. See 1976’s ‘The Two-Minute Warning’ - and if you are conversant in Cockney, see 1953’s ‘The Pony Express’. The Biden administration is reportedly to nominate Saule Omarova to run the Office of the Comptroller of the Currency, the bureau within the Treasury that charters, regulates, and supervises all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the US. Omarova is a law professor who has criticized crypto, and advocates for the government to have a much larger role in banking. That comes after the SEC’s Gensler’s comments this week on stablecoins. See 1974’s ‘Earthquake’ or 1975’s imaginatively titled ‘Airport 1975’. US President Biden and French President Macron are attempting to build bridges burned over AUKUS. The French ambassador is now to return to DC, and Biden to come to Europe for talks next month. However, word on the street is that France, and French agriculture, now have the excuse to kick the planned Australia – EU FTA into the long grass even if the rest of the EU is in favour. The UK has also been sent scuttling from any thoughts of joining the USMCA. However, geopolitics leads and trade usually follows in today’s atmosphere. Japan’s outgoing PM Suga has also been exceptionally forthright, stating China’s rapidly growing military influence and unilateral changing of the status quo could present a risk to Japan. That’s ahead of a first in-person Quad meeting to be held on Friday at the White House. See 1976’s ‘The Last Hard Men’ (and for those who prefer fantasy to Western, see ‘“Orcs”, Elves/Hobbits, and Dragons’). In short, the overall market backdrop is perfect for Heston. Yes, the world has changed dramatically from the epoch where a card-carrying member of the NRA and the Republican Party could be a major Hollywood celebrity. But today is again epic; and gritty; and dystopian; with disease; and economic crises; energy crises; political crises; geopolitical crises; ideological crises; inflation; stagflation; and the backdrop of a shift in the global financial architecture. Not that this doesn’t mean most markets, and modern movies, don’t want to ignore it all and keep partying on as in 1992’s “Wayne’s World”, in which Heston also made a guest-appearance. Try doing that with less QE, less gas, less crypto, and more Marxism and geopolitical risks though. “It's been quite a ride. I loved every minute of it.” Charlton Heston (1923 - 2008) Tyler Durden Thu, 09/23/2021 - 10:25.....»»

Category: blogSource: zerohedge2 hr. 31 min. ago

A school district in Georgia has raised substitute teacher pay from $89 to $189 a day as schools struggle to find staff

Cobb County School District in metro Atlanta is also hiking pay for supply teachers by $100 a day, as schools across the US struggle to find staff. The district also raised supply teacher pay to $212 a day.rom $112. Cavan Images/Getty Images A school district in Georgia more than doubled pay for substitute teachers, reports say. They're now earning $189 a day. Teachers have been leaving the profession because of burnout and fears of catching the coronavirus. See more stories on Insider's business page. A school district in metro Atlanta has hiked substitute teachers' pay from $89 a day to $189 a day.Cobb County School District, which has 112 schools, raised wages starting September 6, as schools across the US struggle to find staff. The district also raised supply teacher pay from $112 a day to $212 a day.Substitute and supply teachers are in particularly high demand in some areas to cover for teachers who are isolating after being exposed to the coronavirus.The district said it was using funding from CARES, a federal coronavirus relief fund, to finance the raises. The higher rates of pay are set to expire in May.Some teachers have left the profession because of burnout and fears of catching the coronavirus. More than half of the 484 K-12 employees surveyed by the Center for State and Local Government Excellence in February said that "the risks I'm taking working during the COVID-19 pandemic are not on par with my compensation."Schools have been dangling massive bonuses to retain staff, with one district in South Carolina giving teachers $2,500 bonuses. Georgia offered $1,000 to all K-12 public school-level staff including teachers, nurses, and admin staff in March.Other school districts across Georgia are raising pay for substitute teachers, too.Fulton County Schools District, for example, has raised daily pay for substitute teachers from $100 to $175, and from $120 to $200 for those in long-term substitute jobs. "The incentive plan aims to counter the shortage caused by the pandemic," the district says on its website.Schools are struggling to find bus drivers, too.Georgia's Cobb County School District is offering $1,200 retention bonuses to all bus drivers and monitors. The governor of Massachusetts activated 250 National Guard members to drive school buses, and one high school in Boston was even forced to hire a party bus with a stripper pole to take pupils on a field trip.Expanded Coverage Module: what-is-the-labor-shortage-and-how-long-will-it-lastRead the original article on Business Insider.....»»

Category: topSource: businessinsider5 hr. 15 min. ago

FedEx says it"s rerouting more than 600,000 packages a day because it can"t find enough staff to process them

A FedEx hub in Portland, Oregon, was down 35% of the staff it needed to handle normal volume, and was diverting a quarter of packages, the COO said. After the earning call, FedEx stock fell to its lowest in a year. FedEx FedEx is rerouting more than 600,000 business packages a day, its president said Tuesday. It can't find enough workers to process them at some sites, Raj Subramaniam said. FedEx estimated that the labor shortage cost it around $450 million in the quarter. See more stories on Insider's business page. FedEx is rerouting more than 600,000 business packages each day because it doesn't have enough staff to process them, FedEx president and COO Raj Subramaniam said.The labor shortage was the company's "biggest issue" and the "key driver" of its lower-than-expected results, he said at the company's earning call Tuesday. It cut its yearly outlook, causing FedEx stock to tumble to its lowest in a year.Subramaniam said that the labor shortage, which is hitting multiple US industries, had cost FedEx an estimated $450 million in the quarter ended August 31 because of wage rises and inefficiencies. Most of this came from FedEx Ground, the company's service that ships packages to businesses, he said."The competition for talent particularly for our frontline workers have driven wage rates higher and pay premiums higher," he said.The company spent around $7.8 billion on employee salaries and benefits in the quarter, up 13% from the same period last year. Earlier this month it announced plans to hire an additional 90,000 workers for the peak season.Subramaniam said that FedEx Ground's hub in Portland, Oregon, was down about 35% of the staff it needed to handle its normal volume. As a result, staff were diverting about a quarter of packages because the parcels "simply cannot be processed efficiently to meet our service standards," he said.The company was rerouting some packages, which made delivery routes longer and forced FedEx to pay more to third-party delivery companies, he said."Across the FedEx Ground network there are more than 600,000 packages a day being rerouted," Subramaniam told investors. Supply Chain Dive first reported on the comment.FedEx Ground handled an average of 9.3 million packages a day in the quarter."Overcoming these staffing and retention challenges are our utmost priority as they not only affect our cost structures and operational efficiency, but are also having a negative impact on service levels," Subramaniam said.Other companies have changed their operations to deal with a lack of available staff, too. Restaurants have been closing earlier or shutting their dining rooms, employers are relying on friends and family or turning to automation, and a high school in Boston even hired a party bus with a stripper pole because it couldn't find enough bus drivers.Some businesses have said that people don't want to work anymore, in some cases blaming it on unemployment benefits. But workers say they're quitting their jobs in search of better pay, benefits, and working conditions.Expanded Coverage Module: what-is-the-labor-shortage-and-how-long-will-it-lastRead the original article on Business Insider.....»»

Category: topSource: businessinsider5 hr. 15 min. ago

Escobar: Eurasia Takes Shape, Part 1 - How The SCO Just Flipped The World Order

Escobar: Eurasia Takes Shape, Part 1 - How The SCO Just Flipped The World Order Authored by Pepe Escobar via The Cradle, As a rudderless West watched on, the 20th anniversary meeting of the Shanghai Cooperation Organization was laser-focused on two key deliverables: shaping up Afghanistan and kicking off a full-spectrum Eurasian integration. The two defining moments of the historic 20th anniversary Shanghai Cooperation Organization (SCO) summit in Dushanbe, Tajikistan had to come from the keynote speeches of – who else – the leaders of the Russia-China strategic partnership. Xi Jinping: “Today we will launch procedures to admit Iran as a full member of the SCO.” Vladimir Putin: “I would like to highlight the Memorandum of Understanding that was signed today between the SCO Secretariat and the Eurasian Economic Commission. It is clearly designed to further Russia’s idea of establishing a Greater Eurasia Partnership covering the SCO, the EAEU (Eurasian Economic Union), ASEAN (Association of Southeast Asian Nations) and China’s Belt and Road initiative (BRI).” In short, over the weekend, Iran was enshrined in its rightful, prime Eurasian role, and all Eurasian integration paths converged toward a new global geopolitical – and geoeconomic – paradigm, with a sonic boom bound to echo for the rest of the century. That was the killer one-two punch immediately following the Atlantic alliance’s ignominious imperial retreat from Afghanistan. Right as the Taliban took control of Kabul on August 15, the redoubtable Nikolai Patrushev, secretary of Russia’s Security Council, told his Iranian colleague Admiral Ali Shamkhani that “the Islamic Republic will become a full member of the SCO.” Dushanbe revealed itself as the ultimate diplomatic crossover. President Xi firmly rejected any “condescending lecturing” and emphasized development paths and governance models compatible with national conditions. Just like Putin, he stressed the complementary focus of BRI and the EAEU, and in fact summarized a true multilateralist Manifesto for the Global South. Right on point, President Kassym-Jomart Tokayev of Kazakhstan noted that the SCO should advance “the development of a regional macro-economy.” This is reflected in the SCO’s drive to start using local currencies for trade, bypassing the US dollar. With Iran's arrival, the SCO member-states now number nine, and they're focused on fixing Afghanistan and consolidating Eurasia. Watch that quadrilateral Dushanbe was not just a bed of roses. Tajikistan’s Emomali Rahmon, a staunch, secular Muslim and former member of the Communist Party of the USSR – in power for no less than 29 years, reelected for the 5th time in 2020 with 90 percent of the vote – right off the bat denounced the “medieval sharia” of Taliban 2.0 and said they had already “abandoned their previous promise to form an inclusive  government.” Rahmon, who has never been caught smiling on camera, was already in power when the Taliban conquered Kabul in 1996. He was bound to publicly support his Tajik cousins against the “expansion of extremist ideology” in Afghanistan – which in fact worries all SCO member-states when it comes to smashing dodgy jihadi outfits of the ISIS-K mold . The meat of the matter in Dushanbe was in the bilaterals – and one quadrilateral. Take the bilateral between Indian External Affairs Minister S. Jaishankar and Chinese FM Wang Yi. Jaishankar said that China should not view “its relations with India through the lens of a third country,” and took pains to stress that India “does not subscribe to any clash of civilizations theory.” That was quite a tough sell considering that the first in-person Quad summit takes place this week in Washington, DC, hosted by that “third country” which is now knee deep in clash-of-civilizations mode against China. Pakistani Prime Minister Imran Khan was on a bilateral roll, meeting the presidents of Iran, Belarus, Uzbekistan and Kazakhstan. The official Pakistani diplomatic position is that Afghanistan should not be abandoned, but engaged. That position added nuance to what Russian Special Presidential Envoy for SCO Affairs Bakhtiyer Khakimov had explained about Kabul’s absence at the SCO table: “At this stage, all member states have an understanding that there are no reasons for an invitation until there is a legitimate, generally recognized government in Afghanistan.” And that, arguably, leads us to the key SCO meeting: a quadrilateral with the Foreign Ministers of Russia, China, Pakistan and Iran. Pakistani Foreign Minister Qureshi affirmed: “We are monitoring whether all the groups are included in the government or not.” The heart of the matter is that, from now on, Islamabad coordinates the SCO strategy on Afghanistan, and will broker Taliban negotiations with senior Tajik, Uzbek and Hazara leaders. This will eventually lead the way towards an inclusive government regionally recognized by SCO member-nations. Iranian President Ebrahim Raisi was warmly received by all – especially after his forceful keynote speech, an Axis of Resistance classic. His bilateral with Belarus president Aleksandr Lukashenko revolved around a discussion on “sanctions confrontation.” According to Lukashenko: “If the sanctions did any harm to Belarus, Iran, other countries, it was only because we ourselves are to blame for this. We were not always negotiable, we did not always find the path we had to take under the pressure of sanctions.” Considering Tehran is fully briefed on Islamabad’s SCO role in terms of Afghanistan, there will be no need to deploy the Fatemiyoun brigade – informally known as the Afghan Hezbollah – to defend the Hazaras. Fatemiyoun was formed in 2012 and was instrumental in Syria in the fight against Daesh, especially in Palmyra. But if ISIS-K does not go away, that’s a completely different story. Particular important for SCO members Iran and India will be the future of Chabahar port. That remains India’s crypto-Silk Road gambit to connect it to Afghanistan and Central Asia. The geoeconomic success of Chabahar more than ever depends on a stable Afghanistan – and this is where Tehran’s interests fully converge with Russia-China’s SCO drive. What the 2021 SCO Dushanbe Declaration spelled out about Afghanistan is quite revealing: 1. Afghanistan should be an independent, neutral, united, democratic and peaceful state, free of terrorism, war and drugs. 2. It is critical to have an inclusive government in Afghanistan, with representatives from all ethnic, religious and political groups of Afghan society. 3. SCO member states, emphasizing the significance of the many years of hospitality and effective assistance provided by regional and neighboring countries to Afghan refugees, consider it important for the international community to make active efforts to facilitate their dignified, safe and sustainable return to their homeland. As much as it may sound like an impossible dream, this is the unified message of Russia, China, Iran, India, Pakistan and the Central Asian “stans.” One hopes that Pakistani PM Imran Khan is up to the task and ready for his SCO close-up. That troubled Western peninsula The New Silk Roads were officially launched eight years ago by Xi Jinping, first in Astana – now Nur-Sultan – and then in Jakarta. This is how I reported it at the time. The announcement came close to a SCO summit – then in Bishkek. The SCO, widely dismissed in Washington and Brussels as a mere talk shop, was already surpassing its original mandate of fighting the “three evil forces” – terrorism, separatism and extremism – and encompassing politics and geoeconomics. In 2013, there was a Xi-Putin-Rouhani trilateral. Beijing expressed full support for Iran’s peaceful nuclear program (remember, this was two years before the signing of the Joint Comprehensive Plan of Action, also known as the JCPOA). Despite many experts dismissing it at the time, there was indeed a common China-Russia-Iran front on Syria (Axis of Resistance in action). Xinjiang was being promoted as the key hub for the Eurasian Land Bridge. Pipelineistan was at the heart of the Chinese strategy – from Kazakhstan oil to Turkmenistan gas. Some people may even remember when Hillary Clinton, as Secretary of State, was waxing lyrical about an American-propelled New Silk Road. Now compare it to Xi’s Multilateralism Manifesto in Dushanbe eight years later, reminiscing on how the SCO “has proved to be an excellent example of multilateralism in the 21stcentury,” and “has played an important role in enhancing the voice of developing countries.” The strategic importance of this SCO summit taking place right after the Eastern Economic Forum (EEF) in Vladivostok cannot be overstated enough. The EEF focuses of course on the Russian Far East – and essentially advances interconnectivity between Russia and Asia. It is an absolutely key hub of Russia’s Greater Eurasian Partnership. A cornucopia of deals is on the horizon – expanding from the Far East to the Arctic and the development of the Northern Sea Route, and involving everything from precious metals and green energy to digital sovereignty flowing through logistics corridors between Asia and Europe via Russia. As Putin hinted in his keynote speech, this is what the Greater Eurasia Partnership is all about: the Eurasia Economic Union (EAEU), BRI, India’s initiative, ASEAN, and now the SCO, developing in a harmonized network, crucially operated by “sovereign decision-making centers.” So if the BRI proposes a very Taoist “community of shared future for human kind,” the Russian project, conceptually, proposes a dialogue of civilizations (already evoked by the Khatami years in Iran) and sovereign economic-political projects. They are, indeed, complementary. Glenn Diesen, Professor at the University of South-Eastern Norway and an editor at the Russia in Global Affairs journal, is among the very few top scholars who are analyzing this process in depth. His latest book remarkably tells the whole story in its title:  Europe as the Western Peninsula of Greater Eurasia: Geoeconomic Regions in a Multipolar World. It’s not clear whether Eurocrats in Brussels – slaves of Atlanticism and incapable of grasping the potential of Greater Eurasia – will end up exercising real strategic autonomy. Diesen evokes in detail the parallels between the Russian and the Chinese strategies. He notes how China “is pursuing a three-pillared geoeconomic initiative by developing technological leadership via its China 2025 plan, new transportation corridors via its trillion-dollar Belt and Road Initiative, and establishing new financial instruments such as banks, payment systems and the internationalization of the yuan. Russia is similarly pursuing technological sovereignty, both in the digital sphere and beyond, as well as new transportation corridors such as the Northern Sea Route through the Arctic, and, primarily, new financial instruments.” The whole Global South, stunned by the accelerated collapse of the western Empire and its unilateral “rules-based order," now seems to be ready to embrace the new groove, fully displayed in Dushanbe: a multipolar Greater Eurasia of sovereign equals. Tyler Durden Wed, 09/22/2021 - 23:20.....»»

Category: blogSource: zerohedge14 hr. 59 min. ago

Facebook CTO To Step Down After 13 Years

Facebook CTO To Step Down After 13 Years Facebook Chief Technology Officer Mike Schroepfer, the man who oversees the the social giant's work in artificial intelligence, virtual reality and the blockchain, will step down next year after 13 years with the company; he will be replaced by longtime Facebook executive, Andrew Bosworth, will take over as CTO, Bloomberg reported citing an internal message on Wednesday from Chief Executive Officer Mark Zuckerberg Schroepfer’s move - which comes on a day Facebook shares tumbled after the company warned Apple's privacy changes will have a bigger Q3 impact than it previously disclosed - marks the most significant departure from the company in years and follows the recent exits of several other top executives. Schroepfer joined Facebook in 2008 and has been CTO since 2013, reporting directly to Zuckerberg. He sits atop many of Facebook’s most ambitious organizations -- including groups that the social network is depending on for future growth - such as engineering, infrastructure, augmented reality and VR, and the blockchain and finance unit. His desk sits next to Zuckerberg’s and operating chief Sheryl Sandberg’s at Facebook headquarters. Schroepfer’s most central role has been his oversight of Facebook’s AI organization, which he helped build. That group develops the technology Facebook uses to automatically find and remove content that violates its policies, like nudity, hate speech and graphic violence. According to Bloomberg, Schroepfer, 46, will continue to advise the company in a new part-time “senior fellow” role, helping with recruiting technical talent and developing the company’s artificial intelligence initiatives.  “This new position will also create more space for me to dedicate time to my family and my personal philanthropic efforts while staying deeply connected to the company,” Schroepfer wrote in an internal post. “Boz will continue leading Facebook Reality Labs and overseeing our work in augmented reality, virtual reality and more, and as part of this transition a few other groups will join Facebook Reality Labs over the next year as well,” Zuckerberg wrote to employees. Before joining Facebook, Schroepfer worked for web browser maker Mozilla. A Stanford University graduate, he has become one of the most visible Facebook executives, often speaking at events and at Facebook’s own annual developer conference. He represented the social network at a hearing before the U.K. Parliament to discuss the company’s Cambridge Analytica data-sharing scandal in 2018. He cuts a high profile internally as well, frequently appearing at companywide meetings, and is the executive sponsor for the internal “Women@ Facebook” employee group. Schroepger's departure is the latest in a series of veteran executives leaving the company in recent months. Fidji Simo, the head of the company’s flagship social networking app, left in July to become CEO at Instacart Inc., and was joined there shortly after by Carolyn Everson, who was a Facebook vice president running its global business relationships with advertisers. Both women were at Facebook for more than 10 years. Tyler Durden Wed, 09/22/2021 - 16:39.....»»

Category: blogSource: zerohedge18 hr. 59 min. ago