Forbes Daily: Flat Core Inflation Fuels Stock Market Optimism

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Good day,

As more companies bring workers back to the office, a new study makes the argument that Remote Work Can Help Your Bottom Line.

The report, released Tuesday by hybrid work management startup Scoop, found that the average public company that gives employees the option of going to an office also outperformed revenue growth over the past three years by 16 percentage points, compared to companies with more restrictive policies.

It is not necessarily that flexible work arrangements cause higher revenue growth. But they're probably part of a broader workplace culture that prioritizes innovation, trusts its workers and has other favorable employee benefits, says Debbie Lovich, senior partner at Boston Consulting Group, whose firm worked on the analysis.

BREAKING NEWS

israeli forces Al-Shifa hospital complex in Gaza raided—the largest medical center in the enclave—early Wednesday, in what they described as a “precise and selective operation” against Hamas, which he has accused of operating a command post inside tunnel complexes beneath Al-Shifa. The raid comes a day after UN officials raised the alarm about deteriorating conditions at the hospital, where thousands of civilians, patients and doctors are believed to be sheltering.

The House of Representatives approved a provisional measure to avoid a government shutdown that keeps the government funded until January, setting the stage for another round of appropriations bills early next year. The resolution does not include foreign aid to Israel or Ukraine, but the House approved a $14.3 billion aid package for Israel earlier this month.

BUSINESS + FINANCE

The core inflation index, which is more stable and excludes the typically variable food and energy indices, moderated in October to its lowest level in two years. Consumer prices remained stable month after month for the first time since July 2022, but there is still much work to be done to reduce inflation to the Federal Reserve's 2% target.

FURTHER: Shares rose after the report was released.with the Dow Jones Industrial Average and the S&P 500 rising to its highest levels since September 15while the Nasdaq reached its highest price since August 1. The gains officially erased nearly all of the market's losses from early fall, as investors continue to bet that the worst effects of monetary policy tightening are in the rearview mirror.

TO The four-decade bond bull market came to an abrupt halt. in 2020, and Forbes asked two veteran yield curve watchers for their thoughts about what's next. Gary Shilling is the bull and has long argued the opposite argument that inflation was destined to recede, while James Grant is the bear, bitter about both government bonds and the dollars with which they will be redeemed.

WEALTH + ENTREPRENEURSHIP

Donor-advised funds have become popular vehicles of charitable giving for the ultra-wealthyas they come with generous tax benefits, have few disclosure or payment requirements and require less supervision by the donor. In 2022, contributions to DAFs across the United States reached a new high of $86 billion, an increase of $8 billion from the previous year, according to a new report released Tuesday by the National Philanthropic Trust.

TECHNOLOGY + INNOVATION

Israel has asked TikTok and Meta to remove more than 8,000 posts related to the Hamas conflict that allegedly violate company policies and incite violence and terrorism, according to the Israeli state prosecutor's office. The agency said there were requested the removal of content that incited violence and terrorismas well as any promotion of groups widely designated as terrorists, and that 94% of the content it flagged on major social sites has been removed.

With the help of several viral moments from TikTok, productivity app Notion has accumulated more than 20 million users. Is now launched a new AI feature, a chatbot called Questions and Answersthat can query information from all documents and databases stored in a user's Notion workspace.

An agreement announced on Tuesday will allow Snapchat users will be able to buy Amazon products in the applicationand so? sent Snap Inc shares up more than 7% after the company faced years of fighting for advertising revenue. Still, Snap is far from its peak, when shares hit a peak price of around $83 in September 2021, up 692% from Tuesday's price.

MONEY + POLITICS

Truth Social, former President Donald Trump's social media site, It has lost $73 million since its launch last year.according to a regulatory document, raising concerns about the financial situation of the platform and its ability to continue its operations. The filing notes that the company's success is strongly tied to Trump's "reputation and popularity" and "may decline."

SPORTS + ENTERTAINMENT

Hollywood actors ended their nearly four-month strike last week after finally reaching an agreement with Leading studios ensure protections for actors against AI.but some SAG-AFTRA members who feel the terms of the agreement do not go far enough They are urging their colleagues to vote no. A summary of the agreement released by the union on Monday outlined protections that included mandatory consent from artists, or representatives of deceased artists, to create a “digital replica” of an actor, but some critics say the proposed contract has lagoons.

TRENDS + EXPLAINERS

He The United States surpassed 600 mass shootings so far this year on Monday, according to Gun Violence Archive, putting 2023 on track to set a new record. The deadliest mass shooting of the year occurred three weeks ago, when eight people were killed and 13 wounded at two locations in Lewiston, Maine.

DAILY COVER STORY

Bankrupt FTX Wants to Sell $100 Million in Cryptocurrencies a Week, Will the SEC Stop It?

TOP LINE It's been a year since FTX failed, enough time for US prosecutors to secure a conviction for Sam Bankman-Fried, its disgraced founder. While that may offer some comfort to around a million creditors with funds tied up in the company's bankruptcy, What would be better is to get some of your money back.

FTX's current leadership under CEO John Ray has recovered more than $7 billion of what was originally $8.7 billion missing, and the company has enough assets to pay customers most of what that is owed to them.

In September the The company received court approval to begin liquidating the recovered cryptocurrencies and has transferred more than $100 million in cash to major exchanges such as Binance, Coinbase, and Kraken. That type of transaction is usually a sign that the owner of a cryptocurrency is preparing to sell.

There is a potential obstacle: the The SEC does not like cryptocurrency trading as it is currently practiced In the US, it is suing Binance and Coinbase, alleging that they act as financial exchanges when they are not licensed to do so and that the digital assets they list are unregistered securities.

The agency has already intervened in a bankruptcy case, objecting to brokerage Voyager Digital's plan in March to sell cryptocurrencies on Binance's U.S. subsidiary, and while the judge in that case disagreed, the regulator may try again. FTX.

Whether the SEC should be in charge of cryptocurrencies is an open question. Congress has been unable to decide how to address an asset class that has been around for only 15 years, and while there are multiple lawsuits brewing in the court system that could decide the matter, none will be resolved in time to provide clarity. the FTX case.

Ironically, this leaves the regulator potentially delaying payments to customers you failed to protect before the exchange fell through.

WHY IT MATTERS "If the SEC allows these sales to go ahead without objection, they could harm its arguments in court and before Congress that it should be the industry's top cop," says Steven Ehrlich, research director at Forbes Digital resources. “This case is just another example of the collateral damage caused by the regulatory mess in the US that is forcing paralysis on the crypto industry as it searches for a rulebook.”

FURTHER FTX Clients Should Recover Most of Their Losses Unless the IRS Hurts Them

FACTS AND COMMENTS

He The national survival rate for lung cancer is increasing.. But people of color are still at greater risk than their white counterparts of dying from the disease. third most common cancer in the USaccording to the American Lung Association:

26.6%: The overall lung cancer survival rate nationwide increased nearly five percentage points over the past five years.

sixteen%: Black people are much less likely to live five years after a lung cancer diagnosis compared to white people.

Every two minutes: How often is someone in the US diagnosed with lung cancer?

STRATEGY AND SUCCESS

if you have recently been fired and I need a new job as soon as possible, Your first steps should be to update your resume., considering what additional qualifications you might need and attending networking events. Once you're ready, apply, apply, apply – remember, it's a numbers game and perseverance is the key.

VIDEO

PROOF

Shares of the maker of a popular video game hit a 19-month high amid optimism over the next installment of What popular video game franchise?

A. Grand Theft Auto

B. Legend of Zelda

C. Call of duty

D. Hello

Check your answer.

VIA THE EDITORIAL ROOM

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