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Singapore lets wealthy motorists live the high-life with a "sky garage"
Lifestyle, 4:01
<p>We have all been there. You have just bought a brand spanking new Lamborghini Huracán LP 610-4 but you live in a luxurious high-rise apartment in the heart of the city, meaning most of the time your new purchase is left stowed away in a basement carpark, unseen and unloved. It’s a classic dilemma.</p> <p>Well, the Hamilton Scotts residential building in Singapore has a way to bring your Lamborgini into your living room, so you can gaze upon its loveliness from the comfort of your chaise lounge. It called the Sky Garage.</p> <p>CNN reports that this building’s unique feature lets residents drive their cars into the basement and park it on a movable metal plate before entering a code that moves the car into an elevator shaft that brings it to one of 56 units across 36 floors - high-tech super villain style. The project’s director Calvin Sim Chen-Min explains:<br /> “Basically the way we conceived the parking lot in the sky was that you would park your beloved toy ... and it (would) became part of the living room ensemble.”<br /> The aim, he adds, is for the car to be a piece of furniture that from the living room you could admire like a piece of artwork.<br />  Photo: Reignwood</p>
Welcome to the jungle: Morgan Stanley trader runs Amazonian ‘ultra-marathon’
Lifestyle, 4:01
<p>Sergey Ionov, 27, is an exotic equity derivatives trader at Morgan Stanley and often clocks in 12-hour days. So how does he kick back and relax? By running several hundred kilometers mutli-day races in the Amazon and Alps, known as ‘ultra-marathons’.<br /> Perhaps inspired by his position at Morgan Stanley, Sergey’s taste for the ‘exotic’ permeates his running style. These are not your common run-of-the-mill city marathons. Ultra-marathons can take place in the jungles of the Amazon or at 3,000 metres altitude in the Alps. He started training about four years ago and took part in his first marathon three months later.</p> <p>Faced with a busy office schedule and the resulting difficulties in finding time to train, Sergey said he chose running over other physical activities because it is in every aspect the most practical choice. You don’t need a gym, equipment, or a particular schedule. And you can easily convince your friends to join.</p> <p>“During the week I just run to the office: I have two routes – a short one is about 6 km and a long one is about 12 km. I work in Canary Wharf so I can just cross Tower Bridge and go from there, or else run to Greenwich and take the tunnel.”</p> <p>He believes running reduces the stress accumulated at the office: “I normally work 12 hours in a row and get very tired. It helps you to relax and even find better solutions to work-related problems.” Running has also become a big part of his social life. When planning holidays, Sergey and his jogging mates always try to find a place where they can take part in a race.</p> <p>Just a few weeks ago, Sergey took 1st place in the London to Cambridge 100 km marathon.</p> <p>“I don’t really focus too much on winning. It is nice though. It improves the attitude of people towards you. They know you have achieved something great in spheres of life other than finance and at the same time you are able to fulfil your daily duties professionally,” he said.<br /> Jungle run<br /> It all started as a personal challenge, the most difficult challenge Sergey has ever attempted in his life. It took Sergey about 6 months to prepare: every morning he ran to his office with a 12 kg backpack and soaking wet sneakers. “It is quite important to get used to this before. Otherwise, you can have a whole leg turning into one huge blister,” he said.</p> <p>However, as Ionov went through the hardships of the difficult training, he became more and more motivated by the fundraising opportunities the Jungle Ultra Marathon offered him. He chose to use his participation to support Gift of Life, a charity that offers help and care to children with cancer and other life-threatening illnesses in Russia.</p> <p>The competition took place near Santarem in Para, Brazil. Sergey had to complete a distance of more than 250km in 6 days, running along pre-existing paths, trails and tracks through the thick jungle, overcoming natural obstacles such as streams and shallow rivers, and the occasional encounter with local fauna.</p> <p>“When you concentrate on the route you won’t face any danger. Snakes, caimans, they don’t go on the road. They are more afraid of you than you are of them. The bigger nuisance is posed by smaller creatures – all sorts of mosquitoes and ants. At the end of the day you go to the medical check-point and have the swarms of ticks you’ve c</p>
David Rubenstein loves baby pandas
Lifestyle, 4:01
<p>Even financiers have a soft spot for fuzzy baby animals.</p> <p>David Rubenstein, co-founder of The Carlyle Group, is donating $4.5 million to the National Zoo's giant panda research and conservation program, reports the Washington Post. The Washington, DC zoo says the money will help fund panda reproduction research, training programs, and upgrades to the giant panda habitat through 2020. This isn't the first time Rubenstein has given a big donation to the fuzzy bears. In 2011, Rubenstein gifted another $4.5 million to the pandas.<br /> “The National Zoo’s panda program has been a remarkable success — two healthy pandas in just two years — and I am pleased to support it for another five years,” Rubenstein says in a press release.<br /> The National Zoo is known for its pandas, including a baby boy born August 22. Giant pandas are native to China and a critically endangered species. China owns and leases all pandas held in the U.S. The National Zoo pays $500,000 a year to lease its pandas, and is currently negotiating a new lease. All cubs born at the zoo have to go to China when they turn 4.<br /> Photo: Will Sowards </p>
Traders react to Fed decision: Just watch what Yellen does to the VIX
Lifestyle, 4:01
<p>Traders react to news that the Federal Reserve is leaving interest rates at zero percent.<br /> LOL. VIX down 8% "@Henry_Chinaski: $SPY $VIX $VXX $UVXY this pic doesn't get old"</p> <p>— StockTwits (@StockTwits) Sep. 17 at 02:28 PM</p>
HSBC becomes HSBC UK in ‘radical’ rebranding
Lifestyle, 4:01
<p>After more than а month-long review on a potential name change, the UK’s largest lender has decided to keep ‘HSBC’ in its domestic banking division brand, Finbuzz reports. </p> <p>An internal staff email last week said of the change: “It soon became obvious that everyone preferred a name that maintains a strong connection to HSBC, and a clear commitment to the UK.”</p> <p>HSBC, also Europe’s largest bank, announced plans to rebrand earlier this summer. The announcement had the chatting classes speculating whether or not HSBC would revive its Midland Bank brand which it acquired in 1992.</p> <p>One legacy of Midland Bank that HSBC UK will adopt is location, as the 26,000 banking employees will be based in Birmingham, the former Midland Bank centre. The HSBC UK name comes into effect from 1 January 2018, and will be used at the bank’s 1000 UK branch locations.</p> <p>The name change comes ahead of the new banking rule that requires lenders to ‘ring-fence’, or separate, high-street and investment banking operations. “[Setting] up the UK ring-fenced bank in Birmingham is a key strategic action for the group,” Gulliver said.</p> <p>“Our ambition is to be the bank of choice in the UK and as a name, HSBC UK will build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market.”</p> <p>This article originally appeared on Finbuzz.<br /> Photo: Elliott Brown</p>
What traders do while waiting for the Fed to come out with its interest rate decision
Lifestyle, 4:01
<p>What did traders do before emojis?<br /> If Janet Yellen keeps rates low into 2016, we made this Bitmoji for you. Yellen be like. $SPY $TLT</p> <p>— StockTwits (@StockTwits) Sep. 16 at 11:51 AM</p>
Blackstone is 2016’s best bank to work for
Lifestyle, 4:01
<p>If you’re a banker, it’s pretty likely you spend a lot of time at the office, so it’s important to choose the right bank. This year, Blackstone, Goldman Sachs, and Morgan Stanley topped Vault.com’s ratings, Finbuzz reports.</p> <p>The ranking and review website Vault.com has published their annual ranking of the best banks.</p> <p>Blackstone, Goldman Sachs, and Morgan Stanley maintained their top three positions, and boutique banks like Evercore, Centerview Partners, Houlihan Lokey, and Greenhill &amp; Co. came in fourth, fifth, sixth. J.P. Morgan followed in eighth place, slipping from fourth in last year’s ranking.</p> <p>The only European-based bank to break into the top ten was Credit Suisse.</p> <p>The Vault banking 50 is compiled after interviewing banking professionals and using a weighted formula that is 40 percent based on prestige, 20 percent firm culture, 10 percent compensation, 10 percent business outlook, 10 percent overall satisfaction, 5 percent work/life balance, and 5 percent training.</p> <p>2016 Rank<br /> 2015 Rank<br /> Company</p> <p>1<br /> 1<br /> Blackstone</p> <p>2<br /> 2<br /> Goldman Sachs &amp; Co.</p> <p>3<br /> 3<br /> Morgan Stanley</p> <p>4<br /> 6<br /> Evercore</p> <p>5<br /> 5<br /> Centerview Partners</p> <p>6<br /> 7<br /> Houlihan Lokey</p> <p>7<br /> 8<br /> Greenhill &amp; Co., Inc.</p> <p>8<br /> 4<br /> J.P. Morgan</p> <p>9<br /> 9<br /> Perella Weinberg Partners</p> <p>10<br /> 10<br /> Credit Suisse</p> <p>11<br /> 22<br /> Bank of America Corp.</p> <p>12<br /> 11<br /> Peter J. Solomon Company</p> <p>13<br /> 13<br /> William Blair</p> <p>14<br /> 41<br /> Robert W. Baird &amp; Co. (Baird)</p> <p>15<br /> 19<br /> UBS</p> <p>16<br /> 12<br /> Moelis &amp; Company</p> <p>17<br /> 46<br /> Cowen Group, Inc.</p> <p>18<br /> 15<br /> RBC Capital Markets</p> <p>19<br /> 16<br /> Citi Institutional Clients Group</p> <p>20<br /> 14<br /> Lazard</p> <p>21<br /> 21<br /> Barclays (Investment Banking)</p> <p>22<br /> 20<br /> Deutsche Bank AG</p> <p>23<br /> 24<br /> Guggenheim Securities, LLC</p> <p>24<br /> 23<br /> Jefferies &amp; Company, Inc.</p> <p>25<br /> 25<br /> Rothschild</p> <p>26<br /> 26<br /> Wells Fargo &amp; Company</p> <p>27<br /> 27<br /> Allen &amp; Company LLC</p> <p>28<br /> 28<br /> Qatalyst Partners</p> <p>29<br /> 29<br /> Oppenheimer &amp; Co.</p> <p>30<br /> 31<br /> HSBC North America Holdings</p> <p>31<br /> 32<br /> Nomura Holdings, Inc.</p> <p>32<br /> 30<br /> Macquarie Group (U.S.)</p> <p>33<br /> 34<br /> BMO Capital Markets</p> <p>34<br /> 35<br /> Piper Jaffray Companies</p> <p>35<br /> 33<br /> BNP Paribas USA</p> <p>36<br /> 36</p>
Ultimate showboating frivolity
Lifestyle, 4:01
<p>A billionaire sailor no longer need feel anxious about having to wait for a limousine to pick him up when his superyacht docks at a smart Mediterranean resort. He can now take his own supercar with him.</p> <p>And the new Marine Edition Mono is rather special. </p> <p>Launched by yachting company Camper &amp; Nicholsons in collaboration with Briggs Automotive Company, the car can reach 170mph and can surge from 0-60mph in just 2.7 seconds - yet it weighs only 580kg so can easily be hoisted onto land, according to The Daily Telegraph.</p> <p>Owners can customize it by having its color match the yacht and the car’s seat molded to fit snugly. Protective coatings on the bodywork also protect against corrosion from salty air and water.</p> <p>The price-tag is £500,000 (plus delivery and VAT where applicable) or about $750,000.</p> <p>And for “superyacht owners who prefer to spend their time at sea its main purpose could simply be to serve as the ultimate showboating frivolity,” says The Daily Telegraph.<br /> Photo: mangopulp2008<br /> &nbsp;</p>
Hedgie loses discrimination suit
Lifestyle, 4:01
<p>Hedge funder Alphonse "Buddy" Fletcher has lost his four year discrimination battle against a New York City co-op.</p> <p>In 2011 Fletcher accused The Dakota, made infamous as the location of John Lennon's murder, of racial discrimination, reports the New York Post. Fletcher is a longtime Dakota resident, but wished to purchase a fifth apartment in the building. The co-op says it turned down Fletcher because of his deteriorating financial situation, but Fletcher, who is black, called foul. A Manhattan judge sided with the board, throwing out the case.</p> <p>It's been a rough year for Fletcher. The hedge funder's firm, Fletcher International, is bankrupt, after a court-appointed trustee accused it of being a Ponzi scheme.</p> <p>Fletcher's wife, Ellen Pao, has had her own legal battles. Pao lost a sex discrimination case against her former employer, venture capital firm Kleiner Perkins, earlier this year, and just recently announced that she wouldn't be appealing the decision due to lack of resources.<br /> Photo: Alejandro Lavin, Jr.<br /> &nbsp;</p>
Women and VC: The aftermath of Ellen Pao vs KPCB
&nbsp; Last week we saw Ellen Pao finally throw in the towel and drop her appeal after losing her sexism case against former employers Kleiner Perkins Caulfield and Byers, a Silicon Valley-based venture capital. In article published in Re/code, the former Reddit CEO draws a line under her three-year-long battle, detailing exactly what she was up against, and why she