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FILE– Mercedes’ Lewis Hamilton. REUTERS/Hamad I Mohammed/Pool SAO PAULO—Lewis Hamilton called for action to change “archaic mindsets” after a racist remark about him by Brazilian triple champion Nelson Piquet emerged on social media, triggering widespread condemnation. In a Brazilian interview on YouTube in November, Piquet, 69, used a racial slur when referring to the seven-time world champion, when commenting on Hamilton’s British Grand Prix crash with Max Verstappen . He also said Hamilton had “played dirty” in the incident. Piquet’s daughter Kelly is Verstappen’s partner, and the comments resurfaced as the drivers prepare to return to Silverstone this weekend. Hamilton, who was recently awarded honorary Brazilian citizenship and is the sport’s only Black driver, responded on Twitter. “It’s more than language. These archaic mindsets need to change and have no place in our sport,” the Mercedes driver said. “I’ve been surrounded by these attitudes and targeted my whole … [Read more...] about F1: Lewis Hamilton calls for action amid storm over racist Piquet comment

As recently as last month, news outlets across the country were still covering the Great Resignation —the unprecedented shift in turnover that saw employees leaving their jobs in droves in search of better positions. Yet in light of the recent tech-stock selloff and economic downturn, it looks like the tech industry’s insatiable appetite for new talent is slowing among certain industries. This is being touted as the Great Reset . advertisement advertisement Over the last few years, enthusiastic tech founders were able to take advantage of an unusual period in history where the market was flush with capital from overzealous investors and government-backed stimulus. Those founders are now waking up to a new reality and discovering that the money they raised is being burned at an unsustainable pace. Companies are making difficult decisions as a result, including a wave of layoffs across the tech industry. Other companies, including Meta , are … [Read more...] about How employers and candidates can adjust to the Great Reset

If you're looking for capitulation in 2022, it's in the bond market. And that tells you that investors' confidence in the global economy is very low. Inside the stock market, it's all about defense. Defensive stocks, which include big healthcare companies and dividend-paying value stocks, have been driving the gains. An index of global defensive stocks put together by Goldman Sachs, which is heavy in healthcare giants, has climbed to more than an 18-month high relative to the MSCI AC World Index. Inside the U.S., the defensive ETF ticker DEF has been outperforming the Spider ETF SPY all last week and all year. For market watchers, this feels a whole lot like a recession trade. While investors in the capital markets are battening the hatches for a recession, money in the private markets is also drying up. The value of venture capital deals in the U.S. dropped more than 25% in the second quarter to just $1 trillion, according to Dealogic . M&A activity in the United States … [Read more...] about What the Business Cycle is Telling us About a Recession

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

Here's a challenge: Figure out a way to shoot your top-rated television show while all of your stars, crew, and talent are forced to stay home . Even better: Plan, shoot, and film a musical sing-along special under those same conditions--and do it in a week. Or, record your daily late-night show without access to your studio, your crew, or an audience of any kind. Sure, in a world where people still can't find toilet paper at the grocery store, how Hollywood produces shows might not seem like a big deal--but hear me out. There's a lesson here for every business . As much as people need toilet paper, or anything else right now, people need some form of "normal," whatever that may mean. People are counting on their favorite forms of entertainment to unwind and stay sane right now. The problem is, productions have largely shut down amid social distancing and stay-at-home orders. A few shows, however, have figured out creative ways to keep things going. … [Read more...] about How the iPhone Is Becoming Hollywood’s Secret Weapon

Share to Twitter Share to Linkedin Crypto may be down, but Jack Lu and Zhouxun Yin are continuing to build. The cofounders of Magic Eden, the top Solana SOL -based NFT marketplace by market share, announced today the close of a $130 million Series B venture round. The added capital brings the company’s valuation up to $1.6 billion and is one of the first major investments to be announced since the recent crypto plunge that saw bitcoin fall below $20,000 and ether drop under $1,000. Magic Eden now becomes the third NFT marketplace to achieve unicorn status alongside $13 billion OpenSea and $7 billion LooksRare. The funding was co-led by Electric Capital and Greylock and it comes three months after the company announced its $27 million Series A in March 2022. “Magic Eden’s ability to keep pace and drive innovation in a rapidly evolving NFT market is extremely impressive,” said Avichal Garg, cofounder and managing partner at Electric Capital. “They … [Read more...] about Billion Dollar NFT Marketplace Magic Eden Raises $130 Million Despite Signs Of Crypto Winter

Thai netizens have slammed government officials in the central province of Pathum Thani for wasting taxes on a pointless trip to Phang Nga and Phuket. Government officials from the Mueng Tha Khlong District were supposed to be taking part in a working seminar to develop women’s potential in Phang Nga, and Phuket, from June 23 – 26. But the non-profit organization, Anti-Corruption of Thailand, criticised the government on its Facebook page, ปฏิบัติการหมาเฝ้าบ้าน, saying they used the 490,000 baht trip as a holiday. The pictures posted on the non-profit organisation’s Facebook page were taken from the Facebook accounts of the seminar participants. The picture captions were cutting. One said, “Others might go to the sea to escape from love and hot weather, but we escape from work.” Another said, “Go to Phuket! Thanks to the kind sponsors,” and another, “Wonderful activities for Tha Khlong women.” The pictures reveal the participants cruising, visiting tourist attractions, … [Read more...] about Thai netizens berate government for wasting public cash on working holidays

- A + A MELAKA (June 28): The Malaysian Nuclear Agency (Nuklear Malaysia) will increase the production of IS21 paddy seeds for distribution to farmers, thus expanding the cultivation of the high-quality variety nationwide. Its director-general Dr Abdul Rahim Harun said currently the quota of the IS21 seeds, generated using nuclear technology with a gamma radiation-induced mutation method, was 4,800 metric tonnes per season. “The maturation period of IS21 rice is similar to other varieties but with its characteristics, including high quality, resistance to unpredictable weather changes such as drought and floods and can survive if submerged in water for about 20 days, farmers do not need to replant the crops, thus saving costs. “This seed also has a good response with minimal use of fertiliser, as well as its disease-resistant nature to rice blast disease which reduces yield. It also does not require many pesticides to fight off diseases,” he told reporters after … [Read more...] about Nuklear Malaysia to increase IS21 seed production, expand cultivation nationwide

Share to Twitter Share to Linkedin Topline Nearly a quarter of the world’s population lives in an area at risk of flooding and almost all are in low- and middle-income countries, according to a study published in Nature Communications on Tuesday, underscoring the disproportionate impact climate change is having on the world’s poorest. Key Facts An estimated 1.81 billion people around the world are at risk of inundation from a 1-in-100 year flood—a term experts use for floods with a 1% chance of striking every year—according to the peer reviewed study from World Bank researchers. The vast majority—1.24 billion people—live in South and East Asia, the researchers said, with India and China collectively accounting for more than a third of global exposure. An analysis of economic data reveals that flood risk coincides with poverty and vulnerability, the researchers said, with nearly nine out of every 10 people at risk from flooding living in … [Read more...] about Nearly 1 In 4 People Worldwide At Risk From Flooding, Study Warns

Share to Twitter Share to Linkedin Looking ahead to the July 4 holiday weekend, travelers will face daunting flight cancelations and delays. How do we know? During the Juneteenth and Father’s Day holiday weekend, more than 14,000 US domestic flights were canceled due to staffing shortages. And it’s not an isolated incident: Over Memorial Day weekend, airlines canceled over 7,000 flights. The turmoil will continue. Delta announced that it will downsize its schedule by 100 flights a day between July and August. The culprit? A mix of weather, air traffic control staffing, and COVID-related absenteeism : “Increased COVID case rates contributing to higher-than-planned unscheduled absences in some work groups.” Other parts of the airline ecosystem have suffered, too; just two weeks after the end of mask mandates, the number of TSA employees contracting COVID increased by 50% . In effect, airlines face both indirect and direct staffing shortages from … [Read more...] about Airline Flight Delays Have An Underpublicized Cause: Covid-Related Absenteeism