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Reuters filepix for illustration purpose only - A + A NEW YORK (May 18): The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases pointing to around 30 people including heads of certain investment banking teams or trading desks — that are subject to the review, according to people with direct knowledge of the requests. Personnel in those roles are being ordered to hand over phones so devices can be examined by lawyers. The aim is to gauge how pervasively Wall Street professionals use unauthorized messaging platforms to chat with each other or clients as regulators decide which firms to punish, and how hard, for failing to preserve business-related messages sent via unapproved platforms. … [Read more...] about US pries into over 100 trader and banker phones in texting probe

Soumyo Sarkar, Chief Executive Officer and Portfolio Manager of Sumit Capital LLC feels that further downside risks exist for the Indian market unless there is a significant easing of commodity-led inflation or a favourable resolution of the Ukraine crisis. The US Fed's so-called dot plot (projection for Fed funds rate) is indicating around seven rate raises of a quarter-point each this year, followed by a few more rate hikes in 2023. "We expect the US Fed to start hiking rates from mid-March. However, the drop in the yields reflects the belief of market participants that Ukraine tensions may cool down the global economy and reduce inflationary pressures over time," says the New York based registered investment advisor. Prior to setting up Sumit Capital, Sarkar worked with Deutsche Bank during 1995-2009 period and Credit Suisse during 1991-1995. Even after more than 10 percent correction from record highs, is the Indian market highly valued considering the corporate … [Read more...] about Daily Voice | Further downside risks exist for Indian market till easing of commodity-led inflation: Soumyo Sarkar of Sumit Capital

Moody's cut Russia's credit six notches as it expects "sustained disruption to the economy" as a result of global sanctions against the country after it invaded Ukraine. Russia's stock market remained closed. U.S. stocks are higher after yesterday's surge that came in the wake of Federal Reserve Chair Jerome Powell ’s congressional testimony signaling a Fed rate increase would be lower than what investors feared. Key Takeaways Top credit agency Moody's decreased Russia's credit by six notches. U.S. stocks are rising, following yesterday's surge that came after Fed statements that allayed fears of a big interest rate hike. Best Buy Co. Inc. and Kroger Co. shares rose after reporting better-than-expected earnings. Powell is set to testify before Senate lawmakers this morning after telling House lawmakers yesterday he would propose just a quarter-percentage-point rate hike at the central bank’s March meeting. All major U.S. stock indexes posted solid gains … [Read more...] about Moody’s Cuts Russia’s Credit, Wheat Prices Soar, Powell Allays Investors’ Fears

Ranabir Bhattacharyyaa, a writer, shared the woman's story in a LinkedIn post. (Image credit: Ranabir Bhattacharyyaa/LinkedIn) The coronavirus pandemic caused massive jobs losses across the world, forcing people to make drastic switches to new and often unfamiliar roles to support their families. In Kolkata, a woman sacked from electronics giant Panasonic had to start riding a scooter for Uber. Her story was shared on LinkedIn by a man who rode with her. Ranabir Bhattacharyyaa, a writer, said in his post that last week, he had booked an Uber two-wheeler for a quick ride across Kolkata. The driver who came to pick him up was Moutushi Basu – a woman in her early 30s. During his conversation with Basu, Bhattacharyyaa learnt that she worked with Panasonic before the coronavirus-induced lockdown. “She lost her job in the Covid phase like lakhs of Indians,” the man added in his post. Close COVID-19 Vaccine Frequently Asked Questions View more … [Read more...] about From Panasonic employee to Uber rider: Kolkata woman’s story

Intel CEO Pat Gelsinger has said he dreamt of reaching the top post since his early days at the company. (Image credit: LinkedIn) Intel CEO Pat Gelsinger has had a three-decades-long stint with the cutting-edge technology company. Over the course of his career, he has gathered some crucial insights, which he is now sharing with other professionals. During a university speech in Ohio last week, Gelsinger elaborated on his three-point guide for success, Inc. magazine reported. The first tip he had was having a mentor. "We're diamonds in the rough and we need people to knock off those rough edges," he said. Pat Gelsinger cited his own relationship with Intel's former CEO Andy Grove as an example. Second, he advised that professionals write down a mission statement for themselves and think big. Close Gelsinger added that he had his sights set on the Intel CEO position since his early days at the company. He said his dream became a reality only because he … [Read more...] about Intel CEO Pat Gelsinger’s 3 tips for success

(Image credit: @GhazalAlagh/Twitter) Mamaearth co-founder Ghazal Alagh, who was one of the judges on start-up reality show Shark Tank India, believes aspiring entrepreneurs should not give up when faced with setbacks. In a recent LinkedIn post, Alagh said she had observed up-and-coming businesspersons become confused, heartbroken and frustrated when the results of all their hard work did not align with what they expected. The Mamaearth boss said progress is not a linear path. “Even the tiniest of improvements, when applied consistently, realise their moment of breakthrough,” she added in her post. “So don’t give up. It takes vision to stay consistent till you achieve your desired result.” She quoted from American author James Clear’s best-selling book Atomic Habits. “You should be far more concerned with your current trajectory than with your current results,” Alagh wrote. Alagh and six other business bosses -- Bharat Pe co-founder Ashneer Grover, Namita Thapar of … [Read more...] about Shark Tank India judge’s advice to up-and-coming entrepreneurs

A water pump station is seen at a flooded area after Ukrainian military forces opened a dam to flood an residencial area in order to stop advance of Russian forces. The intentional flooding of a small village north of Kyiv that created a quagmire and submerged cellars and fields, but prevented a Russian attack on the capital, was worth all the sacrifice, residents said. Ukrainian forces opened a dam early in the war in Demydiv, causing the Irpin River to flood the village and thousands of acres around. The move has since been credited with stopping Russian soldiers and tanks from breaking through Ukraine's lines. "Of course, it was good," said a man who lives in the village, but would not reveal his name. "What would have happened if they (Russian forces) …. were able to cross the little river and then went onto Kyiv?" More than a third of some fields have been flooded, said another man, who also did not reveal his name. Close Some two months later, people … [Read more...] about Ukraine village flooded intentionally to prevent Russian attack

During National Police Week, we take a moment to pause and honor the men and women of our law enforcement community who have given so much to keep us all safe. To don the badge is one of our nation’s highest honors, but one that comes with unique dangers that so few of us experience firsthand. For those who risk their lives to protect our safety and the values we hold dear, thank you for all you do. (RELATED: RICHARDS: The New Leftist Scheme To Destroy American Policing) This year’s National Police Week events are particularly poignant, as the law enforcement career faces challenges unlike any we’ve seen in our history before. Amid two of the most violent years on record for public safety, murders of law enforcement officers hit an all-time high in 2021 , with murder rates up 59% from 2020. These tragic deaths included unprovoked attacks and brazen officer ambushes that fly in the face of the very law and order our men and women in uniform live to protect. In progressive … [Read more...] about CAMMACK: As The Left’s Crime Crisis Worsens, America Needs Its Police Now More Than Ever

The United States Air Force announced the successful test of a hypersonic missile that can travel more than five times the speed of sound, according to a Monday press release. A Boeing B-52H Stratofortress launched the AGM-183 AGM-183A Air-launched Rapid Response Weapon (ARRW) off the coast of California Saturday, the press release stated. The missile is designed to strike long-distant targets in what the Air Force denotes as “contested environments,” or heavily defended areas. “This was a major accomplishment by the ARRW team, for the weapons enterprise, and our Air Force,” Brig. Gen. Heath A. Collins said. (RELATED: China’s Missile Technology Outpaces Rivals, Baffles Pentagon) The US Navy, in collaboration with the US Army, conducts a static fire test of the first stage of the newly developed 34.5″ common hypersonic missile that will be fielded by both services, in Promontory, Utah, U.S., in this handout image taken on October 28, 2021. Northrop Grumman/Handout via … [Read more...] about ‘Game-Changing’: Air Force Successfully Tests Hypersonic Weapon

David Solomon - A + A NEW YORK (May 18): Goldman Sachs Group Inc Chief Executive Officer David Solomon said clients are preparing for slowing growth and a decline in asset prices — all as “extremely punitive” inflation creates a tax on the economy. “There’s a chance of recession,” he said in a telephone interview. While he added that he’s not overly concerned about that risk, Solomon cited at least a 30% chance of such an event in the next 12 to 24 months as calculated by his firm’s economists, led by Jan Hatzius. He’s watching closely for whether credit spreads begin to widen out more materially. Solomon’s comments come months after his top deputy, John Waldron, told a large investment client that the Federal Reserve hadn’t been acting swiftly enough to control inflation. This week, former Goldman Sachs CEO Lloyd Blankfein expressed similar unease about soaring prices. “We have to get rid of inflation,” Solomon said Tuesday on the phone call. “Inflation is … [Read more...] about Goldman CEO sees recession risk, ‘extremely punitive’ inflation