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☆ Gen Z may have 50-year retirements, so start investing now, says UBS
▼ + stars: | 2024-04-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Higher life expectancy rates mean that some Gen Zers might be retired for 50 years, says UBS. A portfolio needs to beat inflation by 2 percentage points to retire well, the bank said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGen Zers could spend up to 50 years in retirement — so they should start investing as soon as possible, according to UBS. Typical investing wisdom posits that a retired person's portfolio should aim to keep pace with inflation.

Persons: Zers, —, Lee Wen Ching, Wen Ching, Andrew J, Scott, We've, we'd Organizations: UBS, Service, Michelin Locations: Swiss

☆ I left the publishing industry after 20 years and made my eBay hobby a full-time job. My store makes 6 figures.
▼ + stars: | 2024-04-21 | by ( Matt Ringler | ) www.businessinsider.com time to read: +7 min

I've always loved to shop at thrift stores, estate sales, and yard sales, and often sold on eBay. I decided to leave publishing entirely and take my eBay store full-time. AdvertisementMatt Ringler bought items at yard sales, estate sales, and thrift stores to sell on eBay. I left publishing entirely and decided to take my eBay store full-timeI wasn't sure of much except that no publishing company was getting a résumé from me. While I figured my life out, I had savings — and my eBay store kept going.

Persons: I've, —, I'd, Matt Ringler, Krug, chunky LL Bean, Fred Sanford's, I'm Organizations: eBay, Service, brac, Nintendo, Salvation Army Locations: New York, Europe

☆ Who are the HENRYs? Charts show who makes more than $200,000 and how they earn it
▼ + stars: | 2024-03-30 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Unlike many older Americans with a higher net worth, these workers are what's called "HENRYs" — high earners, not rich yet. Most HENRYs are ages 40 to 49, although an impressive 5.3% are ages 20 to 29. Credit card balances keep reaching record highs, and Fortune found that American cardholders have, on average, $5,733 in credit card balances. Like other consumers, HENRYs carry some credit card debt, and just under half have credit card balances. Even so, HENRYs tend to earn their money the same way as most Americans: They work a job that earns wages.

Persons: —, HENRY, Gen Xers, HENRYs, BI's Noah Sheidlower, DINKS, Fortune Organizations: Service, Business, Consumer Finances

☆ Biden’s 'billionaire tax' takes aim at the super-rich — but can a wealth tax work in reality?
▼ + stars: | 2024-03-15 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

This is about the wealthy contributing more ... the extremely wealthy contributing more and being proud to do that. "This is about the wealthy contributing more to the society, the extremely wealthy contributing more and being proud to do that," Phil White, retired business owner and Patriotic Millionaires co-signatory, told CNBC. But experts are divided over the effectiveness of a wealth tax, and its how achievable it is in reality. Data suggests that wealth tax accounts for only a very small proportion of total tax revenues in the countries where it has been applied. Data suggests that a wealth tax accounts for only a very small proportion of total tax revenues in the countries where it has been applied.

Persons: Joe Biden, Biden, Phil White, Abigail Disney, Brian Cox, Arun Advani, Advani, Christine Cairns, PwC, Tord Kolstad, Kolstad, Kolstad Eiendom Organizations: Patriotic, Patriotic Millionaires, CNBC, Scottish, University of Warwick Locations: Brazil, Europe, Switzerland, Norway, Spain, Colombia

☆ One of Wall Street's favorite investment vehicles turns 25 years old
▼ + stars: | 2024-03-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

One of Wall Street's favorite investment vehicles turns 25 years old on Sunday, but shows no signs of fading to the background as it ages. One of the main conversation points around the 2023 rally for the QQQ, and the entire U.S. market, is the dominance of just a handful of key stocks. Over the years, many key stocks have left the fund, including former top performers like Nextel Communications and Sun Microsystems, which were bought out. Related plays Competition in the ETF industry for the QQQ has expanded dramatically over the past quarter century, including from other Invesco funds. That fund is less than four years old but has already surpassed $20 billion in total assets.

Persons: Wall, Ryan McCormack, McCormack, Todd Sohn Organizations: Nasdaq, Qs, Microsoft, Intel, Qualcomm, Nvidia, Broadcom, Nextel Communications, Sun Microsystems, Pepsico, Amgen Locations: United States, U.S

☆ I'm a HENRY financial planner who makes $125,000. Here's how I manage my money — and the mistakes I see others making.
▼ + stars: | 2024-02-22 | by ( Jamie Killin | ) www.businessinsider.com time to read: +4 min

This as-told-to essay is based on a conversation with Georgia Lord, a 27-year-old certified financial planner and HENRY in New York City. I have a few financial goalsOne of my financial goals is to save up for the professional designations available in my field since they can be expensive. To reach my savings goals, I automate at least 20% of my paycheck every two weeks and deposit it in a high-yield savings account. For example, some stock market returns might've been 3% last year, but some high-yield savings accounts have a return of 4.5%. That's just as important as putting $100 into the stock market every week.

Persons: HENRY, Georgia Lord, I've, That's, Ally, CapitalOne360, There's, might've, Roth, We're Organizations: Morningstar, Business, Roth IRA, — Locations: Georgia, New York City, Brisbane, Australia, New York

Pandemic school closures upended U.S. education. Many students lost significant ground, and the federal government invested billions to help them recover. Students Are Making a ‘Surprising’ Rebound From Pandemic Closures. The students most at risk are those in poor districts, whose test scores fell further during the pandemic. The analysis did not include Asian students, who represent 5 percent of public school students.

Persons: —, ”, Sean F, Reardon, Thomas J, Kane, Erin Fahle, Douglas O, “, Karyn Lewis, Ann Owens, Charlene Williams, Raymond Hart, Mark Sullivan, Bob Miller, Alberto M, Carvalho, ’ ”, Betsi Foster, Sullivan, Pascal Mubenga, Maria Ceja, Maria Ceja’s, Rosalina Rivera, Adam Perez, Margaret, George W, Bush, “ We’re, Eric Hanushek, Marguerite Roza Organizations: Stanford, Harvard, Educational, Dartmouth, “, Opportunity, Stanford University, Center for Education Policy Research, Harvard University, University of Southern, Schools, Oregon Department of Education, N.J ., N.J . Utah Pa, Ill, U.S, of, Great City Schools, The New York Times, Birmingham, Delano Union, Hoover Institution, Georgetown University — Locations: United States, Durham, N.C, Birmingham, Ala, Delano, Calif, University of Southern California, Massachusetts, Kentucky, Tennessee, Oregon, Wis, N.J, N.J . Utah, S.D . Ind . Ohio Va . Conn, Mississippi, Tenn, Miss, Kan, R.I . Ky, Mich, . Ark . Oregon, ., Forsyth, Atlanta, Rochester, Detroit, Lake Oswego, Ore, Portland, Chicago, Nashville, Philadelphia, Los Angeles, California, Weakley County, Nevada

☆ Personal finance guru Ramit Sethi: This common money belief could cost you 'millions of dollars'
▼ + stars: | 2024-01-14 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Investing in the stock market and gambling at a casino can both theoretically make you rich — and both come with risk. But that belief could wind up costing you "literally hundreds of thousands or even millions of dollars," Sethi said. The stock market has its dips, but it has always bounced back. And generally speaking, someone with money invested in the stock market will be better off in the long run than someone who just held onto their cash. So even in a "bad" year, you're probably better off having some of your money invested rather than all in savings.

Persons: Halima, Ramit Sethi, Rich, David, Sethi, they're, you've, it's Organizations: Mutual Locations: Bankrate

☆ The designer of the ‘Bushwick Birkin’ is rewriting the rules of fashion
▼ + stars: | 2023-12-04 | by ( Ramishah Maruf | Clare Duffy | ) edition.cnn.com time to read: +13 min

By contrast, even the most expensive Shopping Bags often cost less than $300. Telfar Clemens at the CFDA x Vogue Fashion Fund 'Americans in Paris' event, Paris Fashion Week, France in March 2018. Maker of the ‘Bushwick Birkin’“This Telfar bag imported. The Covid-19 pandemic sent the popularity of the Shopping Bag to new heights — new bag releases announced online sold out in minutes. ‘For everyone’In 2015, Telfar had an unusual partner at New York Fashion Week: fast-food chain White Castle.

Persons: Bella Hadid, Alexandria Ocasio, “ Abbott, they’re, Birkin, ”, Telfar Clemens —, ” Clemens, Clemens, He’s, Telfar, Telfar Clemens, Hagop Kalaidjian, Clemens “, Lois Sakany, Beyoncé, Gonzalo Marroquin, Patrick McMullan, Solange Knowles, David X Prutting, Bushwick Birkin, —, Adrienne Jones, Samia Laaboudi, Edward Berthelot, Chanel, Laticha Brown, ’, Robert F, Kennedy, Babak Radboy, “, It’s, Elliott Jerome Brown Jr, ” Sakany, Sakany, Pratt’s Jones, Radboy, ” Telfar, DiCianno, Jones, ” Jones, it’s Organizations: New, New York CNN, Rep, ABC, Brooklyn, tote, Gay Times, Fund, Paris, CNN, Liberian, New York’s Pace University, Breakfast Club, of Fashion Designers of America, Vogue, Guggenheim Museum, ” Pratt Institute, Security, New York, Reuters, Analysts, Bag Security, Fashion Institute of Technology, White, Kennedy Human Rights Liberty, Justice Fund, Old, Fast Locations: New York, Alexandria, Cortez, Bushwick, Brooklyn, Paris, France, New York City, Liberian, Queens, Liberia, United States, USA, . Clemens

☆ In the Stock Market, Don’t Buy and Sell. Just Hold.
▼ + stars: | 2023-11-24 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

Selling all of your stock just before the market falls, and buying shares just before the market rises, is a brilliant strategy. And if you could repeat the feat over and over again, you would be fabulously rich — a true stock market wizard. Without question, it’s so hard that the vast majority of professional traders can’t do it, as countless studies have shown. Most of us are better off living with the reality that the stock market moves down as well as up, and that we can’t beat it. And the study implies that a simple, unspectacular strategy — buying and holding the entire market through low-cost index funds — is probably the best bet for most people.

☆ It's a terrible time to be a HENRY
▼ + stars: | 2023-11-07 | by ( Juliana Kaplan | Cork Gaines | ) www.businessinsider.com time to read: +8 min

Their wage and job growth is slower than lower earners, they're piling on debt, and childcare costs are soaring. Workers with earnings in the bottom 10% of wages saw higher wage gains than those in the top 10%. AdvertisementAdvertisementWhile wage gains have stabilized a bit, the bottom half of workers are still notching greater gains than those at the top. Meanwhile, the already rich — those who make over $250,000 — only saw their childcare costs increase by about 4%. As the labor market continues to slow, and childcare costs only rise with the end of pandemic-era subsidies , it might continue to be a bad time to be a HENRY.

Persons: —, there's, Aaron Terrazas, What's, Priya Malani, HENRYs, Goldman Sachs, they're, HENRY Organizations: Service, MIT, University of Massachusetts Amherst, of Economic Research, Bureau of Labor Statistics, Bank of America Institute, Walmart, Consumer Finances, Federal Reserve, Fed

But as it turns out, I was just not using my imagination, because this year’s Burning Man was an absolute nightmare. casey newtonA bit more of a Drowning Man than a Burning Man, I have to say. kevin rooseYeah, so as someone who’s been to Burning Man, I was fascinated by just the logistics of it all, because it is already a mess to get in and out of Burning Man. kevin rooseSo you are, in addition to a Burning Man escapee this year, you’ve been actually going to Burning Man for a long time. When I say I don’t know what happened, I don’t know what happened to prompt the things that were being directed at us.

Persons: casey newton, kevin roose, I’ve, KEVIN, casey newton It’s, you’ve, it’s, I’ll, casey newton What’s, kevin roose Bluetooth, Kevin Roose, ” casey newton, Casey Newton, Jonathan Greenblatt, Elon, Kevin, casey newton Oh, casey newton You, “ shay, denfreude, kevin roose Schadenfreude, shay, who’s, It’s — casey newton, casey newton That’s, Smart, casey newton Ugh, kevin roose —, casey newton Right, — casey newton, kevin roose What’s, casey newton Sure, ” casey newton Never, Adrian Aoun, He’s, ” adrian aoun, adrian aoun, Larry Page, Adrian, I’m, casey newton Amen, here’s, you’d, we’ve, you’re, Larry, roose, Max, Harry Potter, adrian aoun I’m, they’re, adrian aoun —, —, Rice Krispie, kevin roose Wow, let’s, adrian aoun Oh, adrian aoun She’s, She’s —, We’re, wrenches, hitchhike, I, Gerlach, kevin roose She’s, Y, It’s, They’re, — you’re, casey newton We’re, it’s Elon Musk, Elon Musk, Mark Zuckerberg, Donald Trump, West, kevin roose It’s, Casey, casey newton Well, Linda Yaccarino, Jonathan, kevin roose Jonathan, ” jonathan greenblatt, jonathan greenblatt, CHUCKLES, I’d, Linda, kevin roose You, Nick Fuentes, haven’t, Kevin —, that’s, what’s, we’re, casey newton I’ve, jonathan greenblatt I’m, We’ve, — what’s, Here’s, That’s, John, “, ”, CASEY, kevin roose Totally, Hank Green, Hank, ” Hank, hank, It’s Hank, Ben Shapiro, kevin roose Hank, Diana Dionisio, Diana, Snapchat, Jay Hepler, Jay, ” Casey, don’t, casey newton Really, casey newton I’m, Holly Godfrey, Holly, Kevin Scott, Kevin Scott’s, Bing, Rachel Cohn, Jen Poyant, Caitlin Love, Chris Wood, Dan Powell, Elisheba Ittoop, Marion Lozano, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresti, Jeffrey Miranda, CASEY CHUCKLES Organizations: The New York Times, Defamation League, porta, Electric, Google, Labs, Black Rock, casey newton Fair, Burning, Reno, Defamation, Elon, Labor, Twitter, Center, ADL, Nazi, Anti, Twitter’s Trust, Safety, OG, YouTube, Cato Institute, US, Microsoft, Kevins, Davis Locations: Nevada, La Habra , California, Spanish, East, Iraq, Coachella, Bay, Solano County, Toronto, San Francisco, Silicon Valley, Hogwarts, playa, Haiti, Dunkirk, ”, Gerlach, LA, New York, Reno, it’s Reno, America, Florida, chemo, Tokyo, That’s, hardfork@nytimes.com

☆ Here is exactly how much I made at Google in a strategy role and why I chose to leave
▼ + stars: | 2023-08-18 | by ( Aria Yang | ) www.businessinsider.com time to read: +5 min

He said working at Google was like getting a mini MBA, and he had to give 110% effort daily. This as-told-to essay is based on a conversation with Jerry Lee, a former strategy and operations manager at Google. Then, about a year later, I successfully moved to the revenue strategy and operations team. Strategy and operations manager, Revenue strategy and operations teamBase salary: $100,000, Annual bonus: $18,500Equity: $30,000Total compensation: $148,500This team thinks about how to increase revenue for Google. Senior strategy and operations manager, Revenue strategy and operations teamBase salary: $129,000, Annual bonus: $22,500Equity: $46,500Total compensation: $198,000One year later, I was promoted again to senior strategy and operations manager.

Persons: Jerry Lee, I'm, —, Aria Yang Organizations: Google, Morning, Google Analyst, Base, Fortune Locations: South Korea, Europe, Asia

☆ Are office buildings the next 'Big Short' or the next widow-maker trade? The trader behind the ubersuccessful mall short shares his playbook for making money without flaming out.
▼ + stars: | 2023-08-17 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +16 min

Dan McNamara's Polpo Capital is shorting office real estate, a risky move that could be lucrative. If you're looking for a doomsday vision of commercial real estate, you can find it there. "I don't think this is the 'Big Short,'" McNamara told me. This doesn't mean he doesn't have a game plan to make money off cultural shifts that could forever change the state of commercial real estate. Lucas Jackson/ReutersWhere he's going longOne risk of shorting real estate is that it's more susceptible to what's known in real-estate circles as "extend and pretend."

Persons: Dan McNamara's, McNamara, it's, It's, shorting, Carl Icahn, Jim Chanos, Brendan McDermid, Dan McNamara, McNamara's, Braver Stern, Dan McNamara McNamara's, suede loafers, McNamara didn't, Josh Nester, Polpo, he's, Morgan Stanley, Kamil Sadik, Lucas Jackson, Manus Clancy, You've, David Tepper's, Trepp's Clancy, Clancy, David Tepper Organizations: Central Park, New, Polpo, New York University, Columbia, Kynikos Associates, Enron, Asset Management, Reuters, UBS, Co, Societe Generale, Securitized Credit Partners, Credit Suisse, MP, Fund, Bloomberg, of America, Simon Property, Federal Locations: Manhattan, Sixth, Central, New York City, New York, MatlinPatterson, America, China, Italy, Westchester , New York, Tribeca, York, Westchester, Waterford , Connecticut, Baltimore, San Francisco

☆ Americans say they need a $233,000 salary to feel financially secure. To feel rich? They'll need more than double that.
▼ + stars: | 2023-07-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

72% of Americans are financially insecure, according to a Bankrate.com survey. Americans said they'd need to earn $233,000 to feel financially comfortable and $483,000 to feel rich. To feel rich, those surveyed said they'd need to earn, on average, $483,000 per year, nearly nine-times the median income. Mark PerryMany Americans surveyed cited insufficient emergency savings and retirement funds as evidence they're not financially secure. While many Americans may be a long way from feeling financially secure, some are optimistic that they'll get there eventually.

Persons: —, Sarah Foster, Mark Perry's, Mark Perry Organizations: Service, University of Michigan, of Labor Statistics, Northwestern Mutual

My dilemma is that because they think I'm "rich", my siblings and sometimes even my parents expect me to pay for everything. How do I tell my family that I can't afford to pay for everything and I need them to step up? 4 ways to take control of your credit card debt »That said, generosity and family are some of my highest values. You asked me how to tell your family that you can't pay for everything and that you need them to step up. Still, as I am sure you know, credit card debt is often more complicated than being a shopaholic.

Persons: —, it's, Scrooge Organizations: Service Locations: San Fransisco, Kansas City

☆ Stockton Rush: What we know about the Titan submersible's pilot
▼ + stars: | 2023-06-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Rush has approached his dream of deep-sea exploration with child-like verve and an antipathy toward regulations — a pattern that has come into sharp relief since Sunday night, when his vessel, the Titan, went missing. But in 2004, he told Smithsonian, the dream shifted after Richard Branson launched the first commercial aircraft into space. “I had this epiphany that this was not at all what I wanted to do,” Rush told the magazine. The commercial sub industry is “obscenely safe” he told Smithsonian, “because they have all these regulations. He also asked Rush about what the vessel’s “MacGyvery” components — like the plastic PlayStation controller and LED lights that Rush bought from an RV retailer.

Persons: Jacques Cousteau, Rush, MacArthur, you’re, ” Rush, Alan Estrada, ”, Richard Branson, Kirk, OceanGate, Greg Gilbert, Estrada, “, David Lochridge, OceanGate hasn’t, David Pogue, You’re, Pogue, plumb, Nick D’Annunzio, TARA, Celina Tebor, Sam Delouya Organizations: New, New York CNN, Stockton Rush, verve, Princeton, Smithsonian Magazine, McDonnell Douglas Corporation, UC Berkeley, Smithsonian, Enterprise, OceanGate, Everett, NASA, CBS, Boeing, University of Washington, USA, Michelin Locations: New York, Seattle, Washington

☆ Longevity pioneer Peter Attia explains why the quest to live longer is constrained by the US healthcare system
▼ + stars: | 2023-06-19 | by ( Blake Dodge | ) www.businessinsider.com time to read: +6 min

The ultra-wealthy are betting on tech and science breakthroughs to live longer. Longevity expert Dr. Peter Attia explained why preventative care like that still isn't widespread. The ultra wealthy have been shelling out to live longer for some time. In his view, there's a key obstacle standing in the way of your long-term health, ironically: the U.S. healthcare system. Attia's definition of longevity is a function of lifespan, the number of years you live, and healthspan, how well you can live them.

Persons: Peter Attia, There's, podcaster Rich, Attia, Rich —, Bryan Johnson's, Jeff Bezos, Peter Thiel, OpenAI's Sam Altman, we'll, it's, Rich Roll, Stefanie Keenan, Roll Organizations: Morning, Aetna, Tech, IWC Schaffhausen, behemoth Locations: U.S, Los Angeles, Canada

The characters on the HBO show "Succession" often reference real events and billionaire figures. Here's what the Roys have said, done, and worn that capture the real-life world of the rich. Top editors give you the stories you want — delivered right to your inbox each weekday. The HBO drama, which has won awards for its acting and writing, is also incredibly well-researched. There are obvious nods: The Roys, like the Murdochs and the Arnaults, have succession drama that's made for TV.

☆ On ‘Succession,’ Striving Is The Worst Insult of All - The New York Times
▼ + stars: | 2023-05-20 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +3 min

The Roy children’s individual ambitions are sometimes risible, but we’re never asked to question why they would be ambitious in the first place. What’s not acceptable, within the moral logic of the show, is the ambition of those characters who were not born into money and power but want to achieve them. In an episode midway through the final season, Tom admits to Shiv that he cares about these things. I do.” He tells her, “If you think that’s shallow, why don’t you throw out all of your stuff for love? “You’re a hick,” she says, “your whole family is striving and parochial.” Striving — that’s the biggest insult of them all.

☆ ‘Ted Lasso’ Season 3, Episode 7 Recap: Restaurant Week
▼ + stars: | 2023-04-26 | by ( Christopher Orr | ) www.nytimes.com time to read: +3 min

At the end of the episode, Sam takes his father to see the fractured restaurant, only to find his teammates hard at work repairing it. Now, I confess I’d spent much of the episode trying to remember why Sam had named the restaurant Ola’s; I was planning to recheck Episode 3 and even last season for clues. Keeley and JackPresumably having Aurora-Borealised to their hearts’ content last episode, Keeley and Jack mostly limit themselves to coffee this time around, even if those coffees involve signed Jane Austen first editions and jewelry-filled pastry. In between, Keeley — who’d confided to Jack her love of daisies — returns to an office overflowing with them. (Also, is it just me or is it a tad stalker-y for Jack to secretly pay for Keeley and Rebecca’s dinner?)

☆ 'I Will Teach You to be Rich' author: 3 money rules I follow to build wealth and enjoy life—and how to create your own
▼ + stars: | 2023-04-14 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +2 min

"Roll them up into a few simple money rules that make it really easy to make decisions." Sethi's own money rules can give you some inspiration if you're not sure where to start. Making this one of your money rules can help you build your emergency savings and eventually get rich — or achieve another financial goal. "Some of my money rules are straightforward financial rules like save 10%, invest 20%, very straightforward," Sethi says. "One of my personal money rules is unlimited spending on health, on books and on friends' fundraisers," Sethi says.

☆ From swimming pools to gardening, the rich's privileged lifestyles are driving urban water crises, study says
▼ + stars: | 2023-04-13 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

Published in the Nature Sustainability journal this week, the peer-reviewed research looked at the South African city of Cape Town, which has experienced severe drought in recent years. For the study, researchers split Cape Town's urban population into five social groupings and then modeled water consumption. "Informal dwellers and lower-income households constitute together 61.5% of Cape Town's population but consume a mere 27.3% of the city's water." "Specifically, privileged water consumption is unsustainable because in the short term, it disproportionally uses the water available for the entire urban population." Longer term, the report described what it called privileged consumption as constituting an environmental threat to the status of local water sources.

☆ The small European nation of Switzerland beat sky-high inflation. Here's how
▼ + stars: | 2023-02-27 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +8 min

watch nowZURICH — As many countries across the globe battle stubbornly high inflation, the rise in prices has been far less dramatic in Switzerland, a small mountainous nation in western Europe. The stability of the Swiss francAnother reason for Switzerland's relative price stability stems from the strong Swiss franc. While many currencies plunged against an appreciating U.S. dollar, the Swiss franc held steady amid volatility in Europe. The Swiss franc is heavily backed by large reserve of gold, bonds and financial assets, which help the Swiss National Bank ensure the currency's stability during times of volatility. A stronger Swiss franc provides an effective discount on those imports.

☆ Trump probably won't win his $50 million lawsuit against Bob Woodward with experts saying the suit 'turns the First Amendment on its head'
▼ + stars: | 2023-02-02 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +9 min

Former President Trump claims he owns the audio rights to interviews conducted by Bob Woodward. But legal experts say it's unlikely a court will agree with Trump, who claims he's owed $50 million. "The case centers on Mr. Woodward's systematic usurpation, manipulation, and exploitation of audio of [former] President Trump," states the complaint, filed with a federal court in Florida. The audiobook didn't go on sale for another two years — after, Woodward says, he decided its release served the public interest. "Filing a lawsuit over publishing those interviews turns the First Amendment on its head."

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