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A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) This week, Russia defaulted on its foreign debt for the first time since the Bolshevik revolution after it failed to pay interest on two bonds during a 30-day grace period that expired Sunday. But to put the event in context, we don't need to go as far back as 1918. Instead, we can look to 1998 . That's the year Russia defaulted on ruble-denominated bonds, triggering a "Moscow meltdown" that infected markets around the globe. Quick rewind: In August 1998 , following years of upheaval after the fall of the Soviet Union, the Russian government defaulted on its local debt and devalued the ruble. The move sparked chaos in Russia, driving up inflation, causing an economic contraction and triggering bank … [Read more...] about Russia’s last default sparked a crisis. This time is different

Share to Twitter Share to Linkedin Topline High-profile stock picker Cathie Wood conceded to being wrong about the duration of high inflation that's contributed to her fund's steep decline this year while doubling down on her belief that the economy has fallen into a recession—defying a vast majority of experts noting a recession is unlikely this year despite growing odds of one next year. Key Facts “We think we are in a recession,” Wood, the founder and CEO of New York City's Ark Invest, said on CNBC's Squawk Box Tuesday, noting that excess inventory driving up costs and leading to wider-than-expected profit shortfalls for corporations like Walmart and Target is a "big problem" facing the economy. Wood first declared the U.S. had fallen into a recession last week, warning on Twitter that massive inventories (often viewed as a leading indicator for demand) have the potential to unwind and hurt growth for the rest of the year, as consumer … [Read more...] about Cathie Wood Claims Economy Already In A Recession—Warns Inflation And Inventories Pose ‘Big Problem’

Former President Trump is appealing the dismissal of the lawsuit he filed after Twitter permanently banned him in the wake of the January 6 attack. The suit, which argued that Twitter’s action violated his free speech rights, was dismissed last month by U.S. District Judge James Donato. Today, Trump filed a notice of appeal in San Francisco, meaning that Trump v. Twitter will go before the Ninth U.S. Circuit Court of Appeals, and his and Twitter’s lawyers will face off once again. advertisement Trump’s lawsuit argues that Democrats “coerced” Twitter into deplatforming him as political retribution. Judge Donato rejected the claim that Jack Dorsey, then Twitter’s CEO, “willful[ly] participat[ed] in joint activity with federal actors to censor” Trump. This kept Trump cut off from his account’s almost 89 million followers. Ultimately, he also lost his Facebook, Instagram, YouTube, Snapchat, and Twitch accounts for violating their policies against encouraging or … [Read more...] about Trump’s war on Twitter ban continues with appeal of lawsuit dismissal

Share to Twitter Share to Linkedin Topline High-profile stock picker Cathie Wood conceded to being wrong about the duration of high inflation that's contributed to her fund's steep decline this year while doubling down on her belief that the economy has fallen into a recession—defying a vast majority of experts noting a recession is unlikely this year despite growing odds of one next year. Key Facts “We think we are in a recession,” Wood, the founder and CEO of New York City’s Ark Invest, said on CNBC's Squawk Box Tuesday, noting that excess inventory driving up costs and leading to wider-than-expected profit shortfalls for corporations like Walmart and Target is a “big problem” facing the economy. Wood first declared the U.S. had fallen into a recession last week, warning on Twitter that massive inventories (often viewed as a leading indicator for demand) have the potential to unwind and hurt growth for the rest of the year, as consumer … [Read more...] about Cathie Wood Claims Economy Already In A Recession—Warns Inflation And Inventories Pose ‘Big Problem’

Today the iPhone celebrates its 10th anniversary as one of the best-selling products of all time. As a communication specialist, I mark the event for a slightly different reason. The launch of the iPhone was accompanied by one of the best business presentations in corporate history. Here are five techniques that Steve Jobs used to make the iPhone launch magical and memorable, tips that you can use in your very next pitch or presentation. 1. The Setup A good story--and nearly every successful Hollywood movie--follows the three-act structure: setup, conflict, and resolution. The setup is key. It introduces the characters and provides the background to move the action forward. In the 2007 iPhone presentation, Jobs built up the narrative before he even mentioned a new product. "This is a day I've been looking forward to for two and a half years," Jobs began. "Every once in a while, a revolutionary product comes along that changes everything ... Apple … [Read more...] about 5 Reasons Why Steve Jobs’s iPhone Keynote Is Still the Best Presentation of All Time