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With a changing economy, it’s important to ask how the Bay Area, the world’s leading center for technology and innovation, is doing. A current snapshot gives some clues. First, some companies, including HP Enterprise and Oracle, have relocated their headquarters. There are many problems: taxation, social problems and costs (mainly). For the most part, their R&D and most of their labor is here. Silicon Valley has always been about creative destruction and destruction, and we see both. The Bay Area has an army of younger, venture-backed companies looking to expand. Still, no place likes to see businesses go, so let’s…

UK and US participants held the sixth meeting of the UK-US Financial Regulation Working Group (the Working Group) virtually on 21 July 2022. The Working Group was formed in 2018 to deepen bilateral regulatory cooperation with a view to better promoting financial stability; investor protection; fair, orderly and efficient markets; and capital formation in both jurisdictions. Participants included officials and senior staff from HM Treasury and the US Treasury, and from independent UK and US regulatory agencies, including the Bank of England (BOE), the Financial Conduct Authority (FCA), the Board of Governors of the Federal Reserve System (Federal Reserve Board),…

The NFL and the NFLPA reached an agreement Thursday in connection with the discipline of Browns quarterback Deshaun Watson for violating the league’s personal conduct policy. Watson is suspended for Cleveland’s first 11 regular-season games without pay and fined $5 million. He must also undergo a mandatory evaluation by behavioral experts and follow his treatment plan. The settlement is the final resolution of the disciplinary process, ending the NFL’s appeal of the six-game suspension without a fine that disciplinary officer Sue L. Robinson, who was jointly appointed by the NFL and the NFLPA, had imposed on Watson. Robinson found that…

Activist investor Ryan Cohen has exited his position in retailer Bed Bath & Beyond, according to a securities filing released late Thursday. The filing shows that Cohen’s RC Ventures floated its stock on Tuesday and Wednesday in a price range between $18.68 per share and $29.22 per share. The company also sold its call options. Cohen said in a filing earlier this week that he intended to sell his holdings of the meme stock. Shares of the stock fell 40.5% on Friday, adding to a loss of nearly 20% in the previous session. The stock closed at $11.03 per share….

Not since the Soviet collapse has Russia faced an economic upheaval on the scale brought on by Western sanctions following the invasion of Ukraine. Half of its $640 billion in foreign exchange reserves are frozen, several of its major banks have been cut off from the international payments system and Urals crude, thanks to sanctions risks, is selling at around $20 a barrel. discount at international prices. About 1,000 Western companies, counting for an estimate for 40 percent of Russian gross domestic product, they have reduced operations. And yet, six months after Vladimir Putin’s aggression triggered the toughest Western sanctions…

WASHINGTON (AP) — Gov. Greg Abbott, R-Texas, often bashes President Joe Biden for high inflation and a looming recession, a popular GOP argument heading into the November election. But inflation is even worse in Texas’ major cities than it is nationwide. Government figures show inflation is 10.2 percent in the Houston area and 9.4 percent around Dallas, higher than the latest national average of 8.5 percent. Abbott and other GOP leaders make a paradoxical argument that the US economy has sunk into a recession, but Republican-led parts of the country are still booming. These officials blame Biden’s policies for skyrocketing…