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Citigroups Fraser to be first woman CEO of Wall Street bank – Reuters

Citigroups Fraser to be first woman CEO of Wall Street bank - Reuters

(Reuters) – Citigroup Inc C.N named consumer banking head Jane Fraser as its next chief executive on Thursday, making her the first woman to lead a major Wall Street bank.

Fraser, 53, has been a rising star in the financial industry, with a career that spans investment banking, wealth management, troubled mortgage workouts and strategy in Latin America – a key geography for Citigroup. She will take the reins from CEO Michael Corbat in February, the bank said.

Fraser’s promotion to CEO was celebrated as a step in the right direction for an industry that has few women or diverse executives in its top ranks.

“Great news for the company and for women everywhere!” tweeted Bank of America Corp BAC.N operations and technology chief Cathy Bessant. “A big and fantastic moment.”

In an internal memo, Corbat characterized Fraser’s new role as a groundbreaking event and a point of pride for Citigroup.

Fraser has spoken publicly about the struggles she faced as a young woman, and then a working mother, in a competitive industry.

At 2016 event hosted by an international business group, she described her early days as an investment banker, when women were expected to act and dress like men to succeed, as well as her experience juggling home life and work.

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“I’m often asked, ‘Can you have it all? Can you do it all?’” she said at a 2016 event hosted by an international business society. “And I say, ‘Yes, you can, but you can’t do it all at once and don’t expect everything at once.”

Fraser joins a small group of women who have broken through the glass ceiling to reach the C-suite at major financial firms.

In addition to Bessant, there is Fidelity Investments CEO Abigail Johnson; JPMorgan’s consumer lending head Marianne Lake and its finance chief Jennifer Piepszak; and Alison Rose, CEO of British bank NatWest.

Only 37 of companies on this year’s Fortune 500 list are led by women.

Fraser launched her career in Goldman Sachs Group Inc’s GS.N mergers & acquisitions department in London, then worked for Asesores Bursátiles in Madrid. She joined Citigroup 16 years ago and is credited internally with helping the bank recover after the financial crisis, when it had to take $45 billion in taxpayer funds to survive. Through the years, she has run client strategy in Citi’s investment bank, as well as its private bank, its mortgage business and its operations in Latin America, which accounted for 14% of annual revenue in 2019.

Her name was floated as a potential CEO candidate at Wells Fargo & Co WFC.N last year, before the board settled on former JPMorgan executive Charles Scharf. In October, Fraser was promoted to the role of president and tasked to head its global consumer bank, a move that was widely seen as a precursor to her elevation.

Dylan Haggart, a partner at ValueAct Capital, which owns 27 million shares of Citigroup, said that the hedge fund had worked closely with Fraser in recent years and developed a “deep appreciation for her ability to lead thoughtful strategic transformation and drive operational results.”

Credit Suisse analyst Susan Roth Katzke said the promotion came sooner than expected, and that investors are eager to get an audience with her. “Investors will need to hear more from Jane, sooner rather than later,” she said.


Corbat, who has spent 37 years at Citigroup, was launched into the CEO role in 2012, when his predecessor suddenly left under pressure from investors. Since then, he has shifted Citigroup’s strategy to focus on corporate businesses where it has strengths, like fixed-income trading and cash management, as well as credit cards and digital consumer banking.

He also wound down a huge book of troubled assets known as Citi Holdings, effectively transforming the bank from a bailed out, money-losing entity with operations spanning the world into a slimmer, more profitable version with targeted global operations.

Citigroup’s annual profits have more than doubled under Corbat, but rival banks have done better. Only recently has Citigroup been able to meet performance targets that Corbat set and tweaked through the years.

Its shares have risen 43% during his tenure, vs 63% to 188% for Wall Street peers.

Reporting by C Nivedita and Noor Zainab Hussain in Bengaluru; additional reporting by David Henry in New York and Svea Herbst-Bayliss in Boston; Writing by Anirban Sen and Lauren Tara LaCapra; Editing by Sriraj Kalluvila and Nick Zieminski

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What Happens if Your Pet Dies in Daycare or a Kennel

What Happens if Your Pet Dies in Daycare or a Kennel

Illustration for article titled What To Do if Your Pet Dies in Daycare or a Kennel

Photo: Jareerat (Shutterstock)

For people who travel frequently (or at least used to) and have a pet, part of planning a trip involves finding someone to look after their canine or feline family members while they’re away. Deciding a place to board their pets can be stressful, weighing things like who will be caring for the animals, how much it costs, and whether there’ll be some sort of nanny cam where you can check in on your furry friend.

If you’re someone who deals with the kind of anxiety where you always think about the worst-case-scenario in any given situation, you’ve probably already considered (and worried about) what might happen if your pet dies while in someone else’s care. What are your legal rights in that situation? What kinds of laws apply? What happens when a case like this goes to court? We spoke with several attorneys and an animal behaviorist to find out.

How are pets viewed under the law?

There’s no easy way to say this, but in most cases, pets are considered property. “Under common law applied in most of the United States, pets are considered property, just like a car or a watch or an item of clothing,” Morghan Richardson, family law partner at Davidoff Hutcher & Citron LLP, tells Lifehacker.

And according to Ryan Reiffert, a business, corporate, and transactional attorney in San Antonio, Texas with the Law Offices of Ryan Reiffert, PLLC, because of pets’ status as property, their humans would have the same legal remedies as they would in situations where any other piece of property was damaged. Typically, he says this means that in court, a pet won’t be worth much more than what you paid for it, or the money you spent on training.

If a pet is injured while in someone else’s care, its owner can recover the cost of “repairs,” which in this case would be veterinary and other expenses needed for the pet to recover, according to Thomas J. Simeone, a personal injury attorney at Simeone & Miller, LLP who has extensive experience with cases involving injured pets. In situations where the pet cannot be saved, he explains, their owner is entitled to the “cost” of the pet on the date of the negligence—determined by researching the value of similar breeds of dogs of the same age and sex.

What about emotional damage?

But surely, it’s widely understood that pets are frequently considered part of a human family—that has to make a difference, right? Nope. “Generally you cannot get emotional distress damages,” Reiffert tells Lifehacker. “I wish it were otherwise—my rescue dog is incredibly dear to me, basically like a child—but that’s generally the law.” Along the same lines, Simeone says that people with pets are not legally entitled to recover damages for pain and suffering—either their own or the pet’s—because the pet is considered “personal property” and not a living thing.

There is a chance, however, that this approach could change. According to Richardson, in recent years, some courts in the United States have indicated a willingness to acknowledge that pets—though not human—are fundamentally different from other forms of property. “The close relationship that many owners have with their pets simply isn’t the same as the feelings people have about their clothes or their cars,” she explains. “But this new approach, which could allow pet owners whose animals were killed at a kennel or daycare to pursue claims for emotional distress, for example, has not yet been adopted.”

How could situations like this even happen?

Russell Hartstein, an animal behaviorist and trainer and the founder of Fun Paw Care, LLC, has served as an expert witness in cases where dogs have been injured or killed in a daycare or boarding facility. As someone with experience in both animal behavior and running a dog training and daycare business, Hartstein says he’s all too familiar with the types of facilities where pets’ safety is compromised. “I am keenly aware of the inherent flaws within these volume-based business models, most of the time run by ‘professionals’ with no certifications or credentials in the field of animal behavior,” he tells Lifehacker.

Dogs are dyadic in nature, Hartstein explains—meaning they thrive in one-on-one playgroups that are structured specifically for their breed, size, energy level, age, sex and personality temperament. “Ninety-nine percent of the time, dog boarding facilities and daycares are dangerous for a dog,” he says. “And [pet] parents misunderstand, [thinking] that their pet is happy, when the pet is actually stressed. Most dog health, emotional, physical, medical and behavioral problems occur at kennels and dog daycares.”

What legal issues are involved?

People have a right to have someone supervise their pets while they’re away, David Reischer, an attorney and CEO of, explains. The daycare, kennels, or boarding locations then assume a duty of care for the pets in their custody, which includes responsibilities like providing food and water, taking pets to vet appointments, administering medicine if necessary, taking dogs out for a walk, and providing companionship, Reischer says.

If a pet is injured or killed while in the care of a boarding facility of daycare, the pet sitter may be responsible for compensating the pet’s person as the result of a civil lawsuit. “The law treats all pets like property, and the damages that result from an injured or killed pet would be monetary damages,” Reischer explains. “Legal theories for damage to property include conversion, trespass to chattel, or the intentional infliction of emotional distress. Unless the injury or death to the pet was intentional, then criminal charges likely cannot be brought. However, some states do have ‘animal cruelty’ laws for when a person intentionally, maliciously, and purposefully hurts an animal.”

What has to be proven in court?

If a pet is injured or killed while in someone else’s care, that duty of care has been breached as a result of negligence or reckless behavior. When cases like this are brought to court, first there should be an evaluation and analysis of the specific facts surrounding why the pet was injured or killed, according to Reischer. “If a pet were killed while at a kennel or daycare, its owner must prove first that the kennel or daycare failed to exercise a reasonable standard of care, and second, that their failure resulted in injury or the death of the pet,” Richardson explains. “The same legal standard would apply to a dry cleaner who lost or badly damaged your clothes, or an auto repair shop that ruined your car.”

Ultimately, Reischer says that the law does not afford much protection to pets that are killed while in the care of another person. “There is a higher duty of care owed by veterinarians to a pet than most other sitters, but even a pet that is killed while in the care of a veterinarian is a very difficult lawsuit to bring,” he explains. “A person that brings a pet to another person for care unfortunately takes on significant risk that the law does not compensate if the pet is killed.”

Should you hire a lawyer?

Over the years, several people have contacted Simeone after their pet was injured or died while it was being boarded. “Each time, I explain that they can only recover the cost of any treatment, or the ‘value’ of the pet on the date of [their] death, they are upset,” he says, noting that this can also be the case in situations where pets have been attacked by other pets.

Typically, though, Simeone says that he isn’t brought on for cases like this, because the damages a person is entitled to doesn’t justify retaining an attorney. Instead, they attempt to resolve the case themselves, through small claims court or out-of-court negotiations. In other words, look into the cost of an attorney before hiring one for this particular type of case.

What to do before boarding your pet

Obviously, you never want to leave for a trip preparing for something truly awful to happen to your pet while you’re away, but there are a few things you can do before your departure that might help. First, Reischer recommends taking/having some photographic record of your pet’s health before dropping it off for daycare or boarding (which is also handy to have anyway, in case your pet gets lost). If it’s a case where you’re looking to be reimbursed for damages, having “before” pictures could be useful.

Also, in light of the limited damages available to people whose pet has been injured or died in someone else’s care, Simeone says that legally, the best thing to do is to pick a kennel or pet-sitter carefully. “With limited legal recourse, prevention is the best policy,” he says.

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10 of Our Favorite Prime Day Deals for PC Enthusiasts

10 of Our Favorite Prime Day Deals for PC Enthusiasts

Samsung 860 Pro SSD

If you haven’t moved on from SATA-based SSDs yet, Samsung’s 860-series offer great performance for a reasonable price. It’s an older drive (launched in January of 2018), but it’ll be fast enough for everything you do on your non-enthusiast desktop. You’ll save money buying a similarly sized NVMe SSD—especially if you’re looking for 1TB+ capacities—but if you have no idea what that means, and simply want something speedy to replace slower HDDs in your PCs or gaming consoles, Samsung’s 860 Pro line is a good compromise of price and performance.

If you only care about price and need that upgrade for an older system, look elsewhere; Amazon’s deals for the Samsung, roughly 33-percent off, are pretty good, but you can still do a lot better if you care more about getting “any ol’ SSD” than “one of the faster SSDs.”

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How Can I Find Out if My Partner is Interacting With Cam Girls?

How Can I Find Out if My Partner is Interacting With Cam Girls?
Tech 911How Can I Find Out if My Partner is Interacting With Cam Girls?Tech 911Do you have a tech question keeping you up at night? We’d love to answer it! Email with “Tech 911” in the subject line.

I normally don’t like to wade into other peoples’ business, especially when it relates to their consumption of adult material on the web. As long as your hobbies aren’t illegal, super-creepy, or otherwise hurting other people, you’re free to do as you like.

Now that I’ve said that, Lifehacker reader Cass wrote to me with the following question for Tech 911:

My husband says he has never been on chaturbate however it’s always on his history and he blames it on the ads on pornhub. Well today I clicked on his open tabs on chrome and on was chaturbate and there was a girl up on the screen masturbating. Did he have to log on with a profile to see that or do ads show that? Is there any way I can find out what sites he has profiles on even if he uses fake names and emails?

You probably don’t need to do much snooping

It’s certainly possible that Chaturbate “popped up” as a separate tab, but unlikely. I browse all kinds of weird shit around the web, and I don’t really get new tabs full of porn—not unless I’ve clicked on a link that takes me to that site mistakenly. So, sure, that’s possible. And it’s possible you were viewing an ad for Chaturbate instead of the main Chaturbate site itself, or one of the live feeds it contains.

You don’t need a profile to view porn on the web, nor do you need a profile to watch people do all sorts of things on Chaturbate. So, that logic is out. You do need to sign up for the site to interact with cammers, however, which is where your concerns likely come from.

I suppose you could snoop through your husband’s email or credit card statements to see if he’s signed up for the site (or any others). You could also run through his browser history; it’ll be obvious when he’s spent more than 20 minutes across several days clicking through everything he can find on Chaturbate, though that won’t necessarily tell you if he has an account on the site or not.

You should easily be able to see if he’s logged into the site if, or when, you visit the site yourself on his primary browser. You can then root through its history (I assume) to see if he’s paying for the service—and, as part of that, likely tipping models or requesting more private interactions. If he’s smart about his habits and logs out each time, odds are good that his user name and password are saved in his browser

As for other sites he might frequent, it’s the same deal. The trifecta of browser history, email receipts, and credit cards statements should be enough to get you some answers. Otherwise, wherever he stores his user name and passwords can be a gold mine for capturing the footsteps of his digital life. If you only know one, or a few logins for some sites, you can also try using those on any other sites you find in his search history to see if he has active accounts. Most people, sadly, are lazy about using unique logins for different websites.

That all said, he could hide his activity using a clandestine email address that he only accesses via a particular service or browser—not his primary browser nor email service. Or, if he’s good, he could just memorize the details of an alternate account login for clandestine stuff and never save that anywhere.

People can go to all kinds of great lengths to conceal what they do on the internet, but I wager that most people aren’t very technologically savvy and probably just sign up for whatever using their normal email addresses. Searching through Gmail for “invoice,” “account,” “password,” the last four digits of his credit cards, or even something like label:^smartlabel_receipt is probably all you’ll need to do.

A browser history search should be able to clue you in to whether he’s using another email service entirely to conceal his tracks. You’ll just have to do some digging. (Searching for keywords like “Hotmail,” “Yahoo,” or “Gmail” doesn’t really work, since there are many, many email services out there.)

Other than that, it’s a question of time. If he’s very good about hiding what he does, you’ll just have to wait for him to slip up. That’ll require you to monitor his computer and/or phone quite a bit. The former is a lot easier to do than the latter, unless you know his PIN, but it will probably cause you a lot more anxiety than simply addressing the issue upfront.

Should you even snoop at all?

Look: Snooping through a partner’s accounts isn’t an ideal situation. While it might provide temporary answers for an immediate question or problem, it’s going to establish a pattern that will prove hard to break. You might find yourself later wondering if what you found is all there is to find, and you’ll be right back to digging deeper into your husband’s digital life. And with each answer you get, you’ll find yourself asking more and more questions, leading to more snooping, and just…well, a terrible, self-fulfilling circle of mistrust.

As famed sex-advice expert Dan Savage wrote it in a 2018 response to a self-proclaimed “serial snooper:”

…No longterm relationship is entirely snoop-free, blah blah blah, just as no long-term relationship is entirely lie-free, porn-free, or thinking-about-fucking-someone-else-while-fucking-you free. And while snooping can sometimes be justified after-the-fact, i.e. when the snooper discovered something they had an urgent need/right to know, snooping is always risky, it’s always a violation (of a partner’s privacy and their right to some autonomy), and it can erode the necessary trust (and zone of autonomy) that makes a relationship possible. My go-to example of after-the-fact justifiable snooping: The snooper learned that the snoopee was doing something that put the snooper’s health at risk, e.g. the straight-identified married man hooking up with men and taking anon loads behind his wife’s back.

I honestly don’t think this problem has a technical solution—at least, not one that will satisfy you. I’m assuming that you and your partner are fairly open about sexy internet things, given that he told you that this Chaturbate stuff popped up when he was already looking at Pornhub. I’m guessing, then, that the issue of looking at adults doing adult things online isn’t the problem; it’s the potential transition of the passive viewing of pornography to a more active role, one where a person is making requests of a live, online model or otherwise engaging with them in some way that’s much more personal than you’ll ever get from clicking a “play” button.

I can’t say; I’m not you. I’d be much more concerned about my partner’s porn habits if they were treading into dangerous, illegal, or “extreme” territory that pushed the boundaries of whatever understanding we already have. If your partner is looking at child porn, sending nudes to friends, or otherwise doing something that really shatters your comfort zone, that’s a lot different than what this situation feels like. And these scenarios certainly feel like justification for snooping, if not outright rage.

I think your situation is worth a conversation (or a series of conversations). And if that feels too difficult to initiate with your husband, perhaps you can find a professional to help you navigate these waters in an open and honest way. It’s more useful and practical to find out the source of your husband’s online behavior—which can stem from serious issues, like unhappiness, depression, or sexual frustration, or just simple internet boredom combined with the stereotypical male behavior of clicking on attractive bodies doing stimulating things. Maybe normal porn is boring, and cam models are the new normal; if so, that’s worth a discussion, an understanding, and reestablished boundaries (if needed).

I wouldn’t go digitally digging for more unless there’s an obvious and/or concerning reason to do so.

Do you have a tech question keeping you up at night? Tired of troubleshooting your Windows or Mac? Looking for advice on apps, browser extensions, or utilities to accomplish a particular task? Let us know! Tell us in the comments below or email

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Take This Haunted, Halloween-Themed Road Trip for Your October Pandemic Vacation

Take This Haunted, Halloween-Themed Road Trip for Your October Pandemic Vacation

Illustration for article titled Take This Haunted, Halloween-Themed Road Trip for Your October Pandemic Vacation

Illustration: Pare Mahakanok (Shutterstock)

In this pandemic era, true vacations are few and far between. Flying to a destination is not ideal unless absolutely necessary, and some places are re-imposing stricter quarantines and business closures in response to rising COVID-19 case numbers.

So is it even possible to plan a trip you can look forward to (and do safely)? Yes—especially if it’s a season-specific Halloween road trip that you can enjoy either from the comfort of your car or in the open air.

Travel booking site Kayak put together a 29-stop, 7,500-mile road trip itinerary that connects the spookiest sites across the country. As a bonus, (almost) all of them are outdoors. You’ll find cemeteries, lighthouses, state parks, haunted homes, and an abandoned amusement park. There are also a few ghost tours on the list. The itinerary begins in Stowe, VT, and ends in San Jose, CA.

Of course, this itinerary as a whole requires travel across state lines—if you’d rather stay close to home, you can simply take a day trip to the nearest haunted house. National Geographic also has a list of spooky places in seven states, and Country Living compiled a list of 25 haunted spots.

If you do go on a long-distance road trip, you’ll still need places to stay and food to eat even if all attractions are outdoors. Before you head out, do thorough research about local COVID-19 regulations, and bookmark tools that offer real-time updates on travel restrictions so you’re not surprised when you arrive.

You should also take every precaution to make travel safer: wear masks, stay physically distant from anyone not traveling with you, and minimize the opportunities to interact with other people, especially in closed, indoor spaces.

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What Does it Mean When Yelp Flags a Business as Racist?

What Does it Mean When Yelp Flags a Business as Racist?

When I’m looking for somewhere new to go to secure any given service, I turn to Yelp. In addition to giving me a read on a business’ overall quality, I can also find out if the business is terrible—as in, run by terrible people, not having crappy service. (Though the two tend to go hand-in-hand.) Yelp has plans for a new policy that will make this even easier: The company will begin alerting users if a business is accused of racist behavior.

I don’t always agree when Yelp jumps into a business’ listing to try and prevent or explain “astroturfing,” which is what happens when the story of a business doing something unpleasant is picked up by social media. For example, if the business’ owner is giving a lot of attitude on Twitter. This can prompt people who have never been its customers to jump onto Yelp and leave reviews that tell the world—in all kinds of creative ways—how horrible the business is.

However, I’m completely fine with the internet piling on when a business is acting deplorable at a level far above “someone made me a crappy burger.” That includes when a business or its employees act in a way that’s sexist, racist, bigoted, or anything that rises to that level. Though it’s more impactful when people who have actually had a terrible experience talk about it on Yelp, rather than random internet people, sometimes you need to give a little extra gusto to get results.

Everyone should do their part to jump into the fray when there’s demonstrated proof that a business or its employees have acted in a racist manner. That’s because if enough of these reviews catch Yelp’s attention, the company might now flag the business and provide an explanation of what has been happening:

“Yelp’s User Operations team already places alerts on business pages when we notice an unusual uptick in reviews that are based on what someone may have seen in the news or on social media, rather than on a first-hand experience with the business. Now, when a business gains public attention for reports of racist conduct, such as using racist language or symbols, Yelp will place a new Business Accused of Racist Behavior Alert on their Yelp page to inform users, along with a link to a news article where they can learn more about the incident.”

Yelp will visibly alert users when it notices an influx of accusations of racism concerning a business or anyone associated with it—or, for that matter, if the business becomes a target of racism. These alerts might look something like this:

This all sounds like a bit of a cop-out on Yelp’s part, since it’s also in the company’s interest to keep businesses from feeling like they’re getting dogpiled “unfairly.” Again, I have no moral issue with people jumping in to a Yelp page to talk about the shitty, racist actions of a business or its employees. And perhaps this is the kind of activism we need to see more of, because it gets Yelp’s attention. The company can then investigate the matter and provide more official links to inform users about the situation.

In other words, dogpiling reviews—even if they’re from people who have never experienced a business’ crappy actions themselves—can help the truth shine through. It’s a crude technique, but it’s certainly effective at getting an official response. And that’s something your average Yelp user is more likely to believe, I wager, than seeing a bunch of reviews that say “fuck racists” on a business’ page. It’s unfortunate the latter isn’t enough nowadays, but that’s 2020, folks.

Of course, the flip side is true, too. I also see a future where Yelp’s “anti-racism” tools are misused by incensed people to go after businesses that support movements they don’t like, such as Black Lives Matter.

And here’s where we get into a bit of a mess: Yelp remains the sole arbiter of how to handle these issues on its service, and I—and many others—aren’t always convinced it does the best job.

Still, don’t get discouraged. Yelp’s moderators are hardly perfect, but that shouldn’t stop you from calling out terrible behavior when you experience it—or see it in another Yelp review. And when there’s obvious proof that a business was doing its best to put down others because of their ethnicity, jump in there. Force Yelp to sort it out, or else it might never notice.

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