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☆ What Wall Street finance bros should wear this summer
▼ + stars: | 2024-05-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

AdvertisementSo, Business Insider asked some style experts — and a finance bro — which brands and styles those on Wall Street should check out for their summer workwear. Men's fashion consultant Reginald Ferguson told BI that he wants his clients to remain "modern, yet classic" in their daily attire. Charles Tyrwhitt; Peter MillarPeter Millar and Charles Tyrwhitt were two brands suggested to BI by an early-career investment banker who asked to remain anonymous to protect his career. It's a "luxury golf brand that was smart to expand its line for its client to wear other garments while not on the course," Ferguson told BI. Kiton, another high-end brand with origins in Italy, is "the grail for the partner of the firm," Ferguson told BI.

Persons: —, Goldman Sachs, Mark Zuckerberg, Jeff Bezos —, Lauren Sanchez —, bro, Reginald Ferguson, Peter Millar, Charles Tyrwhitt, Peter Millar Peter Millar, Ferguson, nodded, Nicole Pollard Bayme, Bayme, Billionaire Bill Gates, Larry Ellison, Richard Mille Organizations: Service, bros, JPMorgan, Citigroup, Business, BI, LA, Casio, Getty, Billionaire Locations: Silicon, British, Italy

☆ GOP politicians like Ron DeSantis are trying to ban lab-grown meat, comparing it to bugs and claiming threats to ranches
▼ + stars: | 2024-04-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

The bills say that lab-grown meat threatens existing industries, such as cattle ranching. Ron DeSantis has expressed opposition to lab-grown meat. Some of the legislation says that lab-grown meat — also known as cultured meat — threatens states' current agricultural economies. If passed, the legislation would create a civil penalty of up to $25,000 for selling or producing lab-grown meat in Arizona. AdvertisementFor years, lab-grown meat startups have been promising meat without the need to slaughter animals.

Persons: —, Ron DeSantis, it's, DeSantis, Bud Hulsey, Bill Gates, Gates, Jeff Bezos — Organizations: Service, Financial Times, Times, Business, Times ., Foods Locations: Florida, Arizona, Tennessee, San Francisco

☆ Another Billionaire Finds It's Hard to Run a Newspaper
▼ + stars: | 2024-01-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Another billionaire is having a hard time with his newspaper. That's because the LA Times is owned by billionaire Patrick Soon-Shiong, and it is losing money; even though Soon-Shiong is a billionaire, even billionaires have limits. Asked for comment, an LA Times spokesperson said that company leaders "don't generally make forward-looking statements about staffing levels and aren't able to comment further at this time." In 2021, The Wall Street Journal reported that Soon-Shiong was considering selling the LA Times itself , but Soon-Shiong said that was not the case. Last fall, for instance, The Washington Post — owned by Amazon founder Jeff Bezos — one of the richest men in the world — underwent giant staff cuts .

Persons: Patrick Soon, Jeff Bezos's Washington, Warren Buffett, —, Kevin Merida, Patrick, Shiong Axelle, Bauer, Griffin, It's, Shiong, doesn't, Jeff Bezos —, Warren Buffett — Organizations: Los Angeles Times, Jeff Bezos's Washington Post, Service, LA Times, LA, San Diego Union, Tribune, Street Journal, Washington Post, Amazon, Omaha, Alden Global Capital Locations: Merida, San Diego, Berkshire

☆ New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
▼ + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.

Persons: “, ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, —, India’s Gautam Adani, Mukesh Ambani, Cavalli, ”, Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, ”, Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France

☆ It's not just Jeff Bezos — Amazon's looking for office space in Miami, too
▼ + stars: | 2023-11-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Amazon is searching for office space in Miami. The ecommerce giant started looking before founder Jeff Bezos announced his move to the city, per Bloomberg. Bezos announced in November he was moving from Seattle to Miami. AdvertisementAmazon is looking for 50,000 square feet of office space in Miami, the ecommerce giant told Business Insider. The news came just weeks after founder Jeff Bezos announced he was moving from Seattle to Miami to be closer to his parents and to Blue Origin's operations in Cape Canaveral, Florida.

Persons: Jeff Bezos, Bezos, —, Amazon's, Insider's Jacob Zinkula Organizations: Bloomberg, Service, Miami, Companies, Citadel Locations: Miami, Seattle, Cape Canaveral , Florida, droves, Indian Creek , Florida

☆ Mark Cuban says the best way to start a business is with 'as little money as possible'—here's why
▼ + stars: | 2023-04-09 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

If you think that raising capital is the best way to get your business off the ground, you're wrong, according to Mark Cuban. Cuban, of course, has invested in hundreds of startups, including some on ABC's "Shark Tank." Now, I've got to go raise money,'" Cuban said, adding: "Just remember raising money, whether it's from me, on 'Shark Tank' [or] anywhere, that's an obligation. Elon Musk, who has an estimated net worth of $187.9 billion, owns about 23% of Tesla and 74% of Twitter, according to Forbes. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

☆ Amazon pledged to be Earth's Best Employer. Employees say it's just a 'marketing gimmick' as executives perpetuate the same toxic work culture.
▼ + stars: | 2023-02-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +10 min

The company even added the slogan "Strive to be Earth's Best Employer" to its set of 16 leadership principles it religiously follows. But 18 months into the launch, employees say the Earth's Best Employer project is off to a bad start. He added that the Earth's Best Employer initiative should focus on creating a meritocracy and long-term goals for the company. For many Amazon employees, the lack of transparency during last month's layoffs seemed to contradict the company's best employer credo. As the economy worsens, some employees believe Amazon's Earth's Best Employer initiative was all just a "marketing gimmick."

☆ Crumbling tech stocks and recession fears have cratered the fortunes of the wealthiest Americans including Elon Musk and Jeff Bezos.
▼ + stars: | 2022-12-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Britta Pedersen-Pool/Getty Images; Arif Hudaverdi Yaman/Getty Images; KENZO TRIBOUILLARD/Getty Images; Mike Cohen/Getty Images; Yuqing Liu/Business Insider1. Besides the fallen crypto king, many of these shrinking fortunes can be chalked up to this year's bloodbath in the tech stocks. How has Elon Musk's involvement with Twitter impacted your outlook for Tesla stock? Tesla stock price on December, 29, 2022 Markets Insider10. Tesla stock climbed Wednesday as dip-buyers poured into the EV maker.

☆ Former Treasury Secretary Larry Summers urges Fed to keep hiking rates
▼ + stars: | 2022-11-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN Business —Former US Treasury Secretary Larry Summers said on Tuesday that the growing chorus of economists and politicians urging the Federal Reserve to pause its aggressive rate hikes in order to fight inflation are misguided. Those critics say that the Fed could throw the economy into recession, but Summers argued there’s a much greater risk to the economy that the Fed is not doing enough to bring down prices. On oil windfall taxes: On Tuesday, Summers also pushed back after President Joe Biden floated the possibility of punishing the oil industry for high prices by imposing a windfall profit tax. The profits are a windfall of war,” Biden said from the Roosevelt Room, alongside Treasury Secretary Janet Yellen and Energy Secretary Jennifer Granholm. “I think it would discourage investment in oil which ultimately mean higher oil prices.”

☆ Former Treasury Secretary Larry Summers says chance of recession next year is substantial
▼ + stars: | 2022-10-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN Business —Former US Treasury Secretary Larry Summers said on Thursday that it’s “substantially” more likely than not that the United States will enter a recession next year. But this recession will likely be relatively short and mild. There is currently a 98.1% chance of a global recession next year, according to a probability model run by Ned Davis Research. “I think the Fed has to do what is necessary to contain inflation,” said Summers, who has been critical of the Fed in the past. But there are “no silver bullets or miracle cures,” said Summers — especially not in the three weeks ahead of US midterm elections.

☆ The world's second-richest man, Louis Vuitton's CEO, sold his private jet after people started tracking it on Twitter: 'No one can see where I go'
▼ + stars: | 2022-10-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Bernard Arnault said LVMH sold its private jet after Twitter accounts started tracking it. Antoine Arnault argued that a private plane gives executives an edge in the race to be first to a new product or deal. "We haven't found anything better than a private plane to win that race every day and be just a small step ahead of our competitors," he added. Arnault is not the only billionaire to come under fire in recent months for private jet usage. Other public figures have expressed safety concerns over the sharing of flight data on social media.

☆ Amazon has reportedly been spying on workers' private Facebook groups and tracking their plans to 'strike or protest'
▼ + stars: | 2020-09-02 | by ( Tyler Sonnemaker | ) www.businessinsider.com time to read: +3 min

On Tuesday, Vice reported that Amazon had been monitoring dozens of private and public social-media groups operated by Amazon Flex drivers across the US, the UK, and Spain. The tool monitors conversations taking place across various platforms, including in private Facebook groups, subreddits about driving for Amazon Flex, and tweets containing the keyword "Amazon Flex," Vice reported. On a login screen for the tool, according to Vice, Amazon described the contents as "classified," adding: "DO NOT SHARE without proper authentication. Amazon employees held a protest and a walkout over conditions at the company's Staten Island distribution facility on March 30 in New York City. But as Amazon workers have become more unified in speaking out about their treatment, the company has responded by becoming increasingly hostile to their efforts to organize.

Persons: —, Amazon, Spencer Platt, They've, Jeff Bezos Organizations: Service, Business, Amazon, Amazon Flex, Facebook, Getty, Foods Locations: Spain, Island, New York City, New York , California, Minnesota , Illinois, Italy

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