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Airline passengers left ‘devastated and angry’ when a plane turned back after flying for more than 4 hours

Jetstar.The Jetstar flight was traveling from Melbourne to Bali.

Suparat Chairatprasert/Shutterstock

  • Jetstar sent a plane heading to Bali back to Melbourne after several hours of flying, per ABC News.
  • The plane was nearing its destination when it turned around, per the Australian outlet.
  • The service had been swapped to a larger aircraft but local authorities did not approve the swap.

Passengers traveling on a Jetstar Airways flight have hit out at the Australian airline after it turned a plane back around more than four hours after departure.

The news was reported by the Australian outlet ABC News.

The flight had already been delayed by five hours before it took off from Melbourne to Bali on Tuesday before it was stopped from landing. The flight was denied landing after it had already started its descent, per the report.

A passenger told the Daily Mail that a fellow traveler noticed on a flight monitor screen that the plane was returning to Melbourne.

The crew reportedly said it was due to a system “glitch” that would be reset but another passenger asked staff to find out from the captain, per the Daily Mail.

One passenger on board the flight told ABC News that their fellow travelers were “devastated and angry” when they found out the plane was returning.

Another passenger tweeted that it was the “worst travel experience of my life” along with a photo of the flight monitor showing the plane turning around. They added that staff were “unresponsive and unhelpful.”

A spokesperson for the airline told ABC News that the service had been swapped to a larger Boeing 787 plane so it could take more passengers, but the swap was not approved by the Indonesian regulator. 

“We know this has been an extremely frustrating experience for customers and sincerely apologize for what happened,” Jetstar’s spokesperson told ABC News.

Jetstar Airways in Australia and New Zealand is owned by the Qantas Group.

The airline said it was reviewing the incident and offered vouchers to affected passengers. It also said it had provided them with accommodation and was working to rebook them on flights to Bali.

Jetstar did not immediately respond to Insider’s request for comment made outside of typical working hours.  

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Melania Trump distrusted her husband’s advisors, including his own son, Donald Trump Jr, Stephanie Grisham told the Jan. 6 committee

Trump famDonald Trump (c) with wife, Melania Trump (r) and son Donald Trump, Jr. (l) after a Presidential Debate in September 2016, in Hempstead, New York.

Drew Angerer/Getty Images

  • Melania Trump mistrusted many of her husband’s closest advisors, Jan. 6 committee transcripts show.
  • These included his son, Donald Trump Jr, former Trump aide Stephanie Grisham told the committee.
  • Trump surrounded himself with aides who fueled his election denial claims after his 2020 defeat.

Former First Lady Melania Trump mistrusted many of her husband, former President Donald Trump’s, closest advisors, according to transcripts from the January 6 committee released on Thursday.

These included some of his own children.

Stephanie Grisham, who served as White House press secretary and as a senior aide to Melania Trump, told the committee in her testimony that the former first lady was skeptical of the intentions of some of the president’s children.

“Certainly when it came to the kids, especially Don Jr. and Kimberly Guilfoyle, she never trusted that they were doing things in the best interest of their – of Don Jr.’s father,” Grisham told the committee.

This is not the first time reports have surfaced of tensions between Trump’s children from his first marriage and his third wife, Melania. Grisham claimed in her 2021 memoir that the first lady also didn’t get along with Trump’s eldest daughter, Ivanka Trump.

Trump Jr served as an advisor to his father during his presidency, and he and his fiancée, Guilfoyle, were ardent promoters of Trump’s bogus claims of a vast plot to deprive him of victory in the 2020 presidential election. 

Grisham told the committee that Melania Trump was also “very wary” of a coterie of advisors who spearheaded Trump’s bid to overturn his defeat in the 2020 presidential election, including attorneys Rudy Giuliani, Sidney Powell, and Jenna Ellis. 

She said that Melania Trump was “very angry” at Mark Meadows, Trump’s then chief of staff, whom she believed allowed access to “people who were maybe harmful to the president, giving him bad advice.”

“And Mrs. Trump never liked it when people would tell Trump what he wanted to hear rather than the truth or the reality of the situation, and she felt that Meadows was always just playing into his hand,” she added.

The Democrat-led House committee concluded its 18-month investigation into the January 6, 2021, Capitol riot earlier this month. The committee found Trump largely responsible for the events of January 6, during which Trump supporters attacked the Capitol in an attempt to stop the certification of Joe Biden as president.

In his own statements to the committee, Trump Jr said that he had shared a text message with Meadows after the 2020 election, detailing a plan to overturn his father’s defeat, but he and Guilfoyle said they didn’t recall key aspects of events on Jan. 6, according to the transcripts.

The committee’s report detailed concern among top Trump aides regarding the advisors the then-president surrounded himself with after his election defeat, with many peddling outlandish conspiracy theories.

Former Attorney General Bill Barr described staff members President Donald Trump brought on after the November election as the “clown car.”

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Southwest Airlines chaos sparks new calls to make airlines pay passengers when flights are delayed or canceled

Travellers wait in line at the Southwest Airlines ticketing counter at Nashville International AirportSouthwest Airlines canceled almost 16,000 flights this holiday season.

Seth Herald/Getty Images

  • US airlines aren’t legally required to offer any compensation for delayed or canceled flights.
  • Lawmakers are pushing for change, spurred in part by the recent chaos involving Southwest Airlines.
  • American passengers have far fewer legal protections than those in Canada or Europe. 

Southwest Airlines suffered huge disruption that began late last week when winter storms threw its operations into chaos, leaving tens of thousands of passengers stranded.

The chaos has sparked fresh calls for legally binding protection for passengers, as well as mandatory compensation for any travelers facing lengthy delays.

Southwest has promised to pay for alternative travel, food and hotel stays for all stranded passengers, but it’s not legally required to do so. 

Although American passengers are entitled to a full refund if their flight gets canceled, airlines aren’t forced to offer any further compensation, provide meals and accommodation, or cover the costs of alternative travel — unlike in Canada and Europe.

Further, there are “no federal laws requiring airlines to provide passengers with money or other compensation when their flights are delayed or cancelled,” per the Department of Transportation. Compensation is only legally required when passengers are “bumped” from an oversold flight.  

Instead, airlines generally offer varying degrees of compensations and mitigations — all according to their own policies.

Last year, Democratic senators tried to clamp down on these inconsistencies with the Airline Passengers’ Bill of Rights.

This legislation, which stalled in the committee stage, would guarantee clear protections — including forcing airlines to offer compensation of $1,350 in cash to passengers who reach their destination more than four hours late “for any reason within the control of the air carrier.”

This would include crew scheduling and maintenance issues — but not extreme weather conditions.

These kinds of regulations have been in force in Europe since 2004, when the European Union mandated compensation for lengthy delays or cancelations and forced airlines to pay for accommodation and food.

Payouts vary on the length of the delay, but can reach 600 euros ($641) for delays of more than four hours or cancellations of flights longer than 2,175 miles.

Meanwhile, Canada implemented its own Air Passenger Protection Regulations in 2019. Mandatory payouts for delayed passengers range from C$400 ($295) for delays of at least three hours to C$1,000 ($738) for delays of more than nine hours.

Jared Kamrowski, the founder of travel website ThriftyTraveler, said better protection for American passengers was long overdue.

“Requiring airlines to compensate customers when they delay or cancel flights would give travelers more control and power. But most importantly, it would help keep airlines accountable, limiting the mass disruptions we’ve seen over the last few years,” he wrote on his website. 

Federal lawmakers have signaled that they will investigate the mass cancellations by Southwest. Some Democrats think the Department of Transportation should get much more aggressive in pursuing stronger passenger protections, The Wall Street Journal reported.

Katie Porter, a Democrat congresswoman from California, tweeted on Wednesday: “As a mom, I know how stressful the holidays can be… As a consumer protection attorney, I know there are steps we can take to hold the airlines accountable. Congress must take action.”

A representative for Southwest Airlines told Insider: “We apologize to all of our Customers who were affected by this disruption. Customers are encouraged to submit requests for refunds due to disruption, as well as requests for reasonable reimbursements for incidental expenses. Those will be processed on a case-by-case basis.”

They added: “Given the scale of the disruption, it will take some time to process all requests and our focus remains on stabilizing and resuming normal operations.”

The Department of Transportation did not immediately respond to a request for comment from Insider.

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Xi tells Putin that road to peace talks on Ukraine will not be smooth

2022-12-30T13:17:10Z

China’s President Xi Jinping told Russian counterpart Vladimir Putin on Friday that the road to peace talks on Ukraine would not be smooth and that China would continue to uphold its “objective and fair stance” on the issue.

Xi said Beijing and Moscow should closely coordinate and cooperate in international affairs and emphasised Russia’s willingness to engage in negotiations over Ukraine, Chinese state broadcaster CCTV said in its report on a call between the two men.

“The Chinese side has noted that the Russian side has said it has never refused to resolve the conflict through diplomatic negotiations, and expressed its appreciation for this,” Xi was quoted as saying in the video call by CCTV.

Xi and Putin have in recent years been drawn closer by a shared distrust of the United States and its allies, highlighted by a declaration in early February of a “no-limits” strategic partnership that sent alarm bells ringing across the West.

But after Russia launched its invasion of Ukraine in February, China has publicly stressed that it is not in any way a party to the conflict and in September, after the Russian army had faced several setbacks on the battlefield, Putin publicly acknowledged that Xi had “questions and concerns” about the war.

Putin said in comments on Russian television on Friday that he aimed to strengthen military cooperation with China but there was no mention of military cooperation in the CCTV report of the call.

The “no-limits” description of the Sino-Russian relationship has fallen out of favour in Beijing, at least publicly, as it seeks to avoid sanctions from the West over aiding Russia’s war efforts.

Xi, however, made clear on Friday the ideological affinity between Beijing and Moscow when it came to opposing what both view as the hegemonic U.S.-led West.

“Facts have repeatedly proved that containment and suppression are unpopular, and sanctions and interference are doomed to failure,” Xi told Putin.

“China is ready to work with Russia and all progressive forces around the world that oppose hegemonism and power politics…and firmly defend the sovereignty, security and development interests of both countries and international justice.”

Related Galleries:

Russia’s President Vladimir Putin holds talks with China’s President Xi Jinping via a video link from Moscow, Russia, December 30, 2022. Sputnik/Mikhail Kuravlev/Kremlin via REUTERS

Russia’s President Vladimir Putin holds talks with China’s President Xi Jinping via a video link from Moscow, Russia, December 30, 2022. Sputnik/Mikhail Kuravlev/Kremlin via REUTERS

Russia’s President Vladimir Putin holds talks with China’s President Xi Jinping via a video link from Moscow, Russia, December 30, 2022. Sputnik/Mikhail Kuravlev/Kremlin via REUTERS

Russia’s President Vladimir Putin holds talks with China’s President Xi Jinping via a video link from Moscow, Russia, December 30, 2022. Sputnik/Mikhail Kuravlev/Kremlin via REUTERS

Russian President Vladimir Putin attends a meeting with Chinese President Xi Jinping in Beijing, China February 4, 2022. Sputnik/Aleksey Druzhinin/Kremlin via REUTERS/File Photo ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
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Brad Ausmus and Kevin Youkilis join Team Israel coaching staff for 2023 World Baseball Classic

12-29-22-AusmusYoukilis.jpg

(JTA) — Former MLB All-Stars Brad Ausmus and Kevin Youkilis have joined Team Israel as coaches ahead of the 2023 World Baseball Classic.

The team’s manager, Ian Kinsler, a former Jewish MLB All-Star himself — and a former Team Israel player — announced the news Tuesday on the Flippin’ Bats baseball podcast hosted by Ben Verlander, an analyst and former minor leaguer (and brother of ace pitcher Justin Verlander).

“There’s going to be some guys with some great experience that I can lean on a little bit and I just think it’s going to be a great tournament,” said Kinsler, a former second baseman and World Series champion who acknowledged that he is nervous to manage for the first time.

Ausmus, himself a former Team Israel manager, has five years of experience as a manager in the big leagues. He coached Kinsler on the Detroit Tigers from 2014 to 2017 and also helmed the Los Angeles Angels in 2019. Over the course of an 18-year playing career, Ausmus won three Gold Glove awards for his defense.

Growing up, Ausmus occasionally celebrated the holidays with his mother’s side of the family, but he has said that coaching Team Israel brought him more in touch with his Jewish roots.

The fan favorite Youkilis was an accomplished big-league hitter during his 10-year MLB career, spent primarily with the Boston Red Sox. He won two World Series titles with the Sox, made three All-Star teams and also won a Gold Glove award. He will serve as Team Israel’s hitting coach, despite having no prior coaching experience.

Since he retired in 2014, Youkilis has run an award-winning brewery in California, and in 2022, became a part-time Red Sox broadcaster.

The Greek-sounding surname was not the family’s original last name; family lore has it that a relative escaped persecution in Romania in the 1800s and took on the name of a family friend for protection. Youkilis had a bar mitzvah in a Conservative synagogue.

In addition, Jerry Narron, who has 30 years of experience as a manager or coach with eight different MLB teams and served as third base coach for Israel at the 2017 World Baseball Classic qualifier, is rejoining the Team Israel coaching staff. Narron is a Christian Zionist and frequently visits his daughter who lives in Jerusalem.

Kinsler played for the victorious Team USA in the 2017 tournament, and later joined Team Israel for the 2020 Olympics. Since he signed on to manage the team in June, he has recruited the highest number of MLB players yet for the squad’s roster, including All-Star outfielder Joc Pederson and pitchers Dean Kremer and Eli Morgan.

“It means so much to the players when they wear the jerseys of their home country or whoever they’re representing,” Kinsler said on the podcast. “It just means so much to them, and to be a part of it, to experience it, the energy, the environment, was just incredible.”

This article originally appeared on JTA.org.

The post Brad Ausmus and Kevin Youkilis join Team Israel coaching staff for 2023 World Baseball Classic appeared first on The Forward.

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Did we get Egyptian mummification totally wrong? It might have nothing to do with preserving the body after death, experts say.

A colourful golden mask adorned with intricate drawings in red and blue smiling slightly is shown.A gilded mummy mask from Hawara, part of the Manchester Museum collection.

Manchester Museum/Julia Thorne

  • Egyptians may not have used mummification to preserve the body at all, some scientists say. 
  • Their aim may have been to turn royal remains into godly statues — preservation was a perk, they say. 
  • Victorians may focused unduly on preservation because of their own views, spreading misunderstanding.

Mummification may never have been intended to preserve the bodies of ancient Egyptians after death, experts say, a sharp contrast to the popular understanding of the practice.

An increasing number of archaeologists say that the preservative effects of mummification were likely accidental, and blame early modern Egyptologists for propagating a misunderstanding based on little evidence.

Instead, the theory goes, mummification was meant to alter the bodies in a way that didn’t rely on the popular theory that the bodies would become reanimated in an afterlife.

Instead, the experts say, Egyptians intended to turn their pharaohs into statues, works of art with religious significance.

The Egyptologists advancing this view say that the Victorians who first studied mummies concluded that preservation was the aim due to their own macabre fascination with the afterlife. 

The approach suggests that Egyptians believed kings and queens were living gods, and that turning their bodies into statues after death was a way to restore their rightful form.

The golden masks found in the sarcophagi of royals would then be idealized, god-like versions of the deceased, rather than lifelike portraits, these Egyptologists say. 

A gilded figure of a woman with dark long hair is seen on this cartonnage, decorated intricately with Egyptian drawings.A cartonnage, part of the Manchester museum exhibition, is shown.

Manchester Museum/Julia Thorne

“It’s a subtle distinction, but it’s an important one,” according to Campbell Price, a curator at the Manchester Museum in the UK.

“This idea that the spirit returns to the body, or in some sense animates the body, is not as explicitly articulated as you might imagine,” Price said in an interview with Insider.

The approach is explored in the upcoming “Golden Mummies of Egypt” exhibition, which opens at the Manchester Museum in February. Price wrote a book accompanying it. 

A shot of the exhibition is shown. A picture of a guilded mask is shown in the foreground.A picture of the Golden Mummies of Egypt is shown.

Manchester Museum

One of the arguments to support this theory is that mummies of some of the prominent ruling classes do not seem much concerned with preservation.

King Tutankhamun‘s body, for instance, was found stuck to the bottom of his coffin.  

“It’s almost as if, to read modern accounts, the mummification was botched, the ancient Egyptians didn’t know what they were doing, and thus he wasn’t well preserved,” said Price. 

Under the alternate theory, he supports, “producing a lifelike image, recognizable image, actually was never the intention in the first place,” Price said

A drawing on crackled cardboard shows an ancient drawing of the winged god Osiris and his wife Isis.An ancient drawing of Osiris and Isis are shown.

Manchester Museum/ Julia Thorne

Statues were seen by ancient Egyptians as godly. 

“It seems that there’s the world of the living and people who go about their daily lives. And then there’s the world of images and representation, statues, reliefs, and paintings. That is not just an idealized version of Egypt — it’s an image of gods, a kind of a statue world,” said Price. 

The archaeological record suggests statues of gods were anointed with oils and perfumes. They were also sometimes wrapped in linens, so it could be the bandages were thought to confer some sort of divinity.

By putting organs in canopic jars (jars adorned with the heads of gods) during the embalming process, Egyptians may have intended to imbue them with the godly spirit of the deceased royal, per Price, rather than keeping them handy for the afterlife.

king tutThe mask of King Tutankhamun, which was found to have been damaged and glued back together, is seen at the Egyptian Museum in Cairo January 24, 2015.

Reuters

However, not everybody agrees that the preservation aspect of mummification should be cast away.

“The physical preservation of the body was extremely important. There’s no question of that,” Stephen Buckley, an archaeologist and analytical chemist at the University of York, told Insider.

Some mummies do indeed look statue-like, such as Tutankhamun, Amenhotep III, and Akhenaten.

But others, Buckley said, like Tuthmosis III, Tuthmosis IV, Amenhotep II, and Queen Tyi were mummified to look more “sleep-like,” which suggests a closer concern with the physical body inside.

The imagery included some imperfections, “perhaps so the soul could recognize themselves and therefore have a ‘home’ to return to periodically,” he said. 

Buckley conceded that mummification was not only about preservation, but said that discounting it completely would be “to miss the point.”

A black and white photo shows two men crouching over the open sarcophagus of king Tut.The sarcophagus of King Tutankhamun in 1922. The photo also shows Egyptologist Howard Carter, left, with an unidentified man.

Apic/Getty Images

But if Price is right, then how did we get it so wrong?

It may come down to the Victorians and their ideas of life after death.

“A lot of what we say when we describe ancient Egypt is less about what actually happened in ancient Egypt and more about the assumptions of Victorian upper-middle-class white, cis-gendered, bearded men,” said Price.

“As so often those interpretations stuck and they were repeated and repeated and repeated,” said Price.

“I think there’s a lot of unthinking to be done.”

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The US housing market is stuck in the ‘doldrums’ as mortgage rates edge higher, says Freddie Mac

Home sales

(Photo by SAUL LOEB/AFP via Getty Images)

  • America’s housing market is stuck in a state of depression as mortgage rates move higher again. 
  • “The housing market remains in the doldrums with declining sales, inventory and prices,” Freddie Mac said. 
  • The 30-year fixed mortgage rate is poised to break a six-week declining streak, rising to 6.42% on Thursday. 

America’s housing market is still gloomy as ever as mortgage rates turned higher again, according to Freddie Mac. 

“The housing market remains in the doldrums with declining sales, inventory and prices,” said Sam Khater, chief economist at Freddie Mac, in a Thursday blogpost. 

Mortgage rates are set to break a six-week declining streak, with the 30-year fixed rate mortgage rising by 15 basis points this week to 6.42% as of Thursday. The 15-year fixed rate edged lower. 

“The declines in sales and deceleration in home prices began swiftly earlier in 2022 but have moderated more recently,” Khater added.

A combination of high mortgage rates, elevated home prices, recession risks and dampened consumer confidence has weighed on the US housing market, causing demand to crumble. That’s putting downward pressure on home sales and prices. 

The slowdown in the housing market has come about as the Federal Reserve raised interest rates at a staggering pace to combat inflation that hit 40-year highs earlier this year. The aggressive monetary tightening lifted 30-year mortgage rates above 7% — a level not seen since the mid-2000s — this quarter.

“While the intensity of weakness is moderating, the market continues to decline and forward leading indicators suggest housing will remain weak throughout the winter,” Khater continued. 

Top commentators such as Jeremy Siegel, Mark Zandi and Chen Zhao have sounded the alarm on a deteriorating housing market, with the Wharton professor forecasting a plunge in home prices over the coming year that could be as bad as the one seen during World War II.

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Here are the boldest predictions for 2023: Crashing stocks, another Great Depression, and a meatless nation.

New York Stock Exchange traders

Spencer Platt/Getty Images

  • The market in 2022 was rocked by the crypto crash, Russia’s war on Ukraine, and massive Fed rate hikes. 
  • And some forecasts see even more tumult ahead in 2023.
  • Here are some of the boldest predictions for the new year.

In the past year, investors have been rocked by a bear market, the crypto crash, Russia’s war on Ukraine and massive Fed rate hikes — and some forecasts see even more tumult in 2023. 

Here are some of the boldest predictions for the new year.

Tesla stock will plunge further 

Long-time Tesla bear Gordon Johnson, head of investment research at GLJ Research, expects more downside for Elon Musk’s EV company. In fact, he said that shares of Tesla could drop as low as $23, per Fortune.

That’s down from about $120 now and would follow a dive of more than 60% in 2022.

Tesla is facing demand issues, increasing competition, and an overblown valuation, Johnson said, adding that Musk is hurting the stock price by selling billions of dollars worth of his shares and creating drama with his Twitter antics. 

“They’re just a car company that has built too much capacity that they can’t sell,” he told CNBC.

Gold skyrockets to $3,000 an ounce

In Saxo Bank’s view, the precious metal could be slated for a banner year even after the classic inflation hedge failed to find its footing in 2022. 

Once markets realize inflation won’t be tapering off anytime soon, gold will surge to $3,000 per ounce, the bank wrote. Currently, it’s around $1,800.

The S&P 500 crashes again

After losing 20% in 2022, the index could keep falling. Strategists at Truist say the S&P 500 could fall as low as 3,400 next year as bleak near-term outlooks for corporate earnings keep stocks muted. 

While a 7.5% gain is possible, stock valuations remain “far from compelling,” co-chief investment officer Keith Lerner previously told Insider.

Elsewhere, Morgan Stanley, Bank of America and Deutsche Bank expect the S&P 500 to tank over 20% at some point next year.  

US risks another Great Depression

With the Fed “ignoring deflationary signals,” Ark Invest CEO Cathie Wood said in a series of November tweets that the economy could slow further to the point where it resembles the landscape before the Great Depression.

“The Fed raised rates in 1929 to squelch financial speculation and then, in 1930, Congress passed Smoot-Hawley, putting 50%+ tariffs on more than 20,000 goods and pushing the global economy into the Great Depression,” Wood warned. “If the Fed does not pivot, the set-up will be more like 1929.”

A country will ban meat production

Saxo Bank again makes the list of boldest predictions, as its analysts forecasted that net-zero targets will compel a nation in 2023 to commit to going meatless. 

Next year, “at least one country looking to front-run others in marking out its lead in the race for most aggressive climate policy, moves to heavily tax meat on a rising scale beginning in 2025,” the bank said.

Home sales will sink to their lowest level in more than a decade

That’s according to Redfin, which said persistent inflation, recession fears, and housing unaffordability will make would-be buyers slow to sign mortgages, causing home sales will slide. The company expects roughly 16% fewer existing home sales next year compared to 2022, at about 4.3 million. 

“Mortgage rates will take center stage in 2023, with high rates likely to make it the slowest housing-market year since 2011,” Redfin wrote in a year-ahead outlook.

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Our best stories on financial tech in 2022

TGIF! Dan DeFrancesco in NYC for the final newsletter of 2022. What a long strange trip it’s been. 

Quick programming note: We’ll be off on Monday, but I’m back in your inboxes on Tuesday to get you ready for the week. 

Today, we’re going to recap all the great stories we’ve done this year on financial tech, whether it’s up-and-coming startups or the projects at the biggest banks and investment firms. 

But first, as Huey Lewis and the News would say, Sports!


If this was forwarded to you, sign up here. Download Insider’s app here.


A photo of Gerry Cardinale, wearing a blue button down shirt, a navy sweater, and grey pants, leaning against a table in RedBird's conference room that is decorated with football helmets.Gerry Cardinale at RedBird’s Manhattan office

Crystal Cox/Insider

1. From Goldman to goal posts.

Wall Street and sports have a long history together. 

For a time, sports served as the primary training ground for life on the Street. A college teammate was your best bet for getting a foot in the door at a firm. 

These days jocks don’t completely run the trading floors and deal rooms, but Wall Street’s fascination with sports hasn’t tempered. Sports aren’t a pipeline for talent so much as they are one for deals.

One of the key players in the space is Gerry Cardinale, a former Goldman Sachs partner and the current founder and managing partner of $7.5 billion investment firm RedBird Capital.

Cardinale, who was profiled by Insider’s Hayley Cuccinello and Dakin Campbell, has invested in or with some of the biggest names in sports, including the New York Yankees, Dallas Cowboys, Boston Red Sox, Pittsburgh Penguins, and Liverpool Football Club. 

And while RedBird has built a name for itself since its founding in 2014, it’s not alone. Private-equity firms are quickly catching on to the investment opportunities in sports. 

Stakes in sports teams come with plenty of perks (who doesn’t want to sit in the owner’s suite?), but the return on investment is what has Wall Street really excited. One of RedBird’s funds has an internal rate of return of 34%, Hayley and Dakin report. 

One of sports’ biggest assets is the live audience it commands, which translates into lucrative deals for streaming rights.

Click here to read more about Gerry Cardinale, the go-to dealmaker in the world of sports.  


Here’s our top stories about fintech in 2022:

Graphic of the top fintech startup leaders in 2022 4x3From left: Dennis Cail of Zirtue, Jacklyn Rome of Onward, Lyndsey Bunting of Blue Onion, and Gil Feig of Merge.

Zirtue; Onward; Blue Onion Labs; Merge; Rachel Mendelson/Insider

2. A Walmart-backed fintech’s future plans had some customers feeling left behind. When a Walmart-backed fintech venture acquired One at the beginning of the year there was plenty of talk about what the future would hold for the digital-only bank. But it wasn’t long before One started shutting down tools and features its longstanding customers had relied on. More on why One customers have been so frustrated in the wake of its acquisition by the retail giant’s fintech. 

3. JPMorgan wants to run like a startup. The country’s largest bank by assets overhauled its tech org to be more nimble. Part of that switch included the appointment of 25 general managers who act as “mini-CEOs.” Here’s JPM’s new-look tech team. 

4. These are the startups you should be keeping an eye on. We canvassed more than 40 top fintech investors to identify the most promising fintechs. These are the 61 startups that made the cut. Check out what the future of fintech looks like. 

5. How top Wall Street firms are testing out cutting-edge tech. Everyone likes to credit startups with bringing innovative ideas to the finance industry, but big banks and investment firms do their fair share. From Goldman Sachs to Two Sigma and D.E. Shaw, here are 10 of the most innovative tech projects at top Wall Street firms.

6. What’s next for Betterment? The fintech established itself as a disruptor in wealth management when it launched more than a decade ago. But its core product, a so-called robo-advisor, was quickly replicated by larger players in the space, leaving it searching for a way to stay relevant. More on Betterment’s pivot from its robo-advice roots. 

7. If you’re going to start your own business, these fintechs can help you get up and running. They might be small businesses, but there are plenty of opportunities for fintechs serving that clientele. We mapped out the 12 fintechs you should consider if you’re running a small business. 

8. The leaders of the cloud revolution. When it comes to financial tech, it all starts with the public cloud, which serves as the backbone for any innovative plans a firm might have. We mapped out the 14 executives at finance firms leading cloud teams. And we also identified the top Big Tech executives who could get poached by Wall Street firms looking to do more in the cloud. 

9. This is how employees at Robinhood reacted amid the GameStop meltdown. Congressional reports can sometimes be a bear to get through, but the US House Committee on Financial Services’ report on 2021’s meme-stock frenzy was a fun read. We pulled the best bits from the 140-page report, including some hilarious internal messages.

10. These pitch decks helped fintechs raise millions. If you’re looking to raise money for your own startup, or just curious how the competition pitches itself to investors, check out our library of pitch decks. We’ve got more than 50 decks from a variety of fintechs. 


Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London. 

 

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I tried ice-less curling and hanging out in a heated dome in New York City for $400 – here’s what it was like

Woman posing in front of Curling Café and Bar entrance

Jordan Hart/Insider

  • According to the site, pricing for the packages start at $275 – but I paid $368 to curl on Christmas Day.
  • Bank of America’s Winter Park offers an ice skating rink, an open-air market, and more winter-themed entertainment.
  • The Curling Café will continue to accept reservations through January.
I paid $368 to spend 90 minutes at the NYC Curling Café in Bank of America’s Winter Park, which included a heated dome with my own personal lane and refreshments.Exterior of heated curling café domesThe domes offered a retreat from the New York City winter and some fun for friends.

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Although the website says the domes accommodate up to eight people, my group of three felt a bit cramped at the small tables inside.Exterior of heated curling café domes

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The domes included two tables, eight chairs, water, and a space heater. We had a server visit our dome to take our food and drink orders.Interior of heated plastic dome

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We had a choice of a carafe of hot chocolate or apple cider, and we had the option to spike the warm beverages with alcohol for an extra cost.Hot chocolate with marshmallowThe hot cocoa was the champion of our reservation. It was rich and warm, and just the right amount for three people

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Located in Midtown, the Curling Café is behind New York Public Library and has views of the city. The domes, which will be there through January, were decorated with festive lights and garland.ceiling of heated domeAs the sun set, the area was illuminated by string lights and glowing Christmas trees.

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Heating was part of the reservation for the $400 domes, but the only source of warmth was a small space heater.heater inside heated domeOur dome didn’t really retain much heat because we had to open it to the freezing temperatures whenever we wanted to curl.

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Each person in my group could choose a single item off the menu as part of the package — except the chips and dip, which were extra.menu from Bank of America's winter parkEach meal option came with fries – even the cheese plate!

Jordan Hart/Insider

All of our meals came in to-go boxes. I ordered the beef slider with fries. It was a good snack after walking around Winter Park for a while.burger and fries in a to-go box

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There is a curling lane just outside of each dome. But even though we paid for our own lane, park-goers were walking up and trying to use it for free.Iceless curling lane at Winter ParkWe had to be our own security for part of our session because the area was also open to those without reservations. Many people thought the lanes were free for everyone to use.

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There was a “tips and rules” information card for those, like me, who have never been curling before. It really came in handy while learning how to slide the curling stone.Curling Café rulesThere was a host nice enough to demonstrate how to slide the curling stone before my group began our session.

Jordan Hart/Insider

Our lane came with eight curling stones – four pink and four blue. There were only enough for two teams, so an even number of guests is ideal.curling lane with pucksThe curling lane was not made of ice like most curling courts; a type of plastic was used instead.

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