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☆ Microsoft's going to keep spending big as AI continues to boom
▼ + stars: | 2024-04-26 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Microsoft plans to boost spending on AI and cloud services as demand rises. Microsoft's spending commitment follows leaked plans to acquire 1.8 million AI chips in 2024. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In its third-quarter earnings call on Thursday, the tech giant said it will continue to invest in AI and cloud services because of growing demand and a rise in average spending on its cloud platform, Azure.

Persons: —, Amy Hood Organizations: Service, Microsoft, Business

☆ Malaysia might add a casino to boost troubled $100 billion mega-development Forest City
▼ + stars: | 2024-04-25 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

Malaysia may add a casino to Forest City, a mega-development that has turned into a ghost town. AdvertisementMalaysia's Forest City mega-development started with big ambitions and big money. Now, Malaysia is in talks with several high-profile investors to add a casino to Forest City, people familiar with the matter told Bloomberg on Wednesday. AdvertisementThe southeast nation's Prime Minister Anwar Ibrahim met with the heads of a Malaysian property development firm and a resort company at Forest City last week. Expensive, empty apartmentsA casino — which would only be the second in Malaysia — could help struggling Forest City.

Persons: —, Anwar Ibrahim, Ibrahim Iskandar, King Ibrahim, Anwar, They're, Al Marjan Organizations: Service, City, Bloomberg, nation's, Forest City, Garden, Genting Group, Berjaya Corp, Business, United, United Arab Emirates, Las Vegas, downstate Locations: Malaysia, Forest City, Singapore, Malaysia's, Malaysian, Forest, Genting, Marielle, Johor, United Arab, Al, York City, York

☆ Jefferies CEO sold $65 million in stock to buy a yacht from a client
▼ + stars: | 2024-04-25 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +2 min

Jefferies CEO Rich Handler sold $65 million in company stock to buy a luxury yacht. AdvertisementJefferies CEO Rich Handler sold $65 million of his stock in the company to buy himself a gift — a luxury yacht. Handler sold 1.5 million shares, or 7% of his holdings, to purchase a "personal boat and to pay tax obligations," the investment bank said in a Wednesday statement. He has previously sold shares only for tax purposes and charity, the bank said. Investors often view executives' stock sales as a signal about lack of company confidence, so any sales are carefully messaged.

Persons: Rich Handler, Jefferies, Tilman Fertitta, Handler, — Organizations: Jefferies, Service, Financial Times, Houston Rockets, NBA, Lancadia Holdings Locations: Westport

☆ Elon Musk gave Tesla investors the one thing they've been demanding — and it worked brilliantly
▼ + stars: | 2024-04-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Elon Musk said Tesla will get cheaper electric vehicles out sooner. AdvertisementElon Musk dangled a long-awaited prize — cheaper Tesla models — in front of investors on Tuesday. But it was enough to calm investors, and Tesla's stock rose 13% in after-hours trading. Significant challenges and a plummeting stockWhile a promise of cheaper cars relieved investors, Tesla's troubles are far from over. Tesla's stock is down 42% year-to-date.

Persons: Elon Musk, Tesla, Tesla's, —, Elon, Musk, Jay Woods Organizations: Service, Freedom Capital Markets, Reuters, EV Locations: China, Europe

☆ Young Chinese are trading Shanghai for small cities. Brands like KFC are following them with thousands of stores.
▼ + stars: | 2024-04-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . They're struggling to make it in big cities as the world's second-largest economy suffers from a flailing property market and slow post-pandemic consumption recovery. Going big on smaller citiesChina's smaller cities aren't exactly an untapped market. KFC and Pizza Hut operator Yum China, which plans to add 6,000 stores in China by 2026, is also betting big on small cities. AdvertisementThe cost of living crisis driving young people out of China's big cities is a trend that echoes across continents.

Persons: —, MetroDataTech, They're, Joey Wat, DPC, Canyandata Organizations: Migrants, Service, KFC, Bloomberg, Starbucks, Yum Locations: megacities, Shanghai, Shenzhen, MetroDataTech, China, Beijing, —, Yum China, Local, Fuzhou, Korea, New York City, London

☆ Tesla slashes prices for cars and software after one of its toughest weeks yet
▼ + stars: | 2024-04-22 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Tesla cut car prices in the US, China, and Europe after sales fell. AdvertisementTesla lowered prices for most of its US cars, cutting the costs for the Model Y, X, and S by $2,000, Reuters reported. Related storiesIn the US, the cheapest Model Y and the Model X — both SUVs — are being offered at their lowest prices. The best-selling Model Y now starts at $42,990, per Tesla's website. "Tesla prices must change frequently in order to match production with demand," CEO Elon Musk wrote on X on Sunday.

Persons: Tesla, Cybertruck, —, Elon Musk, Musk, Narendra Modi, He's Organizations: Service, Reuters Locations: US, China, Europe, India, Delaware

☆ 3 ways to leverage LinkedIn for your job search, according to a recruiter with 26 years of experience
▼ + stars: | 2024-04-22 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Some career experts liken LinkedIn to a living, breathing CV, while others say they spend longer on a candidate's LinkedIn profile than on their résumé. Shah shared three other ways candidates can optimize LinkedIn to stand out to hiring managers. Treat your LinkedIn profile like a résuméPeople are used to enhancing their résumés to stand out in employers' keyword-searching software. Add those phrases to your LinkedIn profile too, because recruiters look for candidates by typing in industry-related keywords, Shah said. Related story"Candidates should include relevant keywords in the 'About' section and their last job experience position details," he said.

Persons: —, Nick Shah, Shah, he'll Organizations: LinkedIn, Service, Gallup, Business, Peterson Technology Partners, Microsoft Locations: Park Ridge , Illinois

☆ China just made it even harder for people in the country to access WhatsApp and Threads
▼ + stars: | 2024-04-19 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Apple has removed WhatsApp and Threads from its Chinese app store following a government order. WhatsApp has been blocked in China since 2017 and its parent company Meta since 2009. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple removed WhatsApp and Threads from its app store in China after being told to do so by the Chinese government, according to the Wall Street Journal. "We are obligated to follow the laws in the countries where we operate, even when we disagree," an Apple spokesperson told The Journal.

Persons: WhatsApp, — Organizations: Apple, Meta, Spotify, Service, Wall Street, Business Locations: China

☆ Singapore says it'll let workers ask for their dream schedule. There's just one obstacle.
▼ + stars: | 2024-04-17 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Singapore employees can formally request flexible work arrangements starting December 1. While not legally binding, workers can approach unions for support if requests are not considered. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEmployees in Singapore will be able to formally request arrangements like working from home, shorter workweeks, and flexible hours.

Persons: — Organizations: Service, Employees, Business Locations: Singapore

☆ An American expat who retired at 53 said he got 3 things right on his decades-long FIRE journey
▼ + stars: | 2024-04-17 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +7 min

Todd Miller retired at 53 because he did not want his life to be defined by his career. "I didn't have the vocabulary back then of 'financial independence,' but I said I wanted optionality," Miller told Business Insider. He picked age 50 to retire — what the personal finance industry now calls FIRE, which stands for Financial Independence, Retire Early. In 2019, just three years after the initial age target he had set for himself, Miller took the plunge and retired at 53. His passive income now funds the family's lifestyle in Phuket, Thailand, where they live.

Persons: Todd Miller, —, Miller, that's, you've, shubhangigoel@businessinsider.com Organizations: Service, Business, Financial Independence, FIRE Locations: Thailand, Singapore, Hong Kong, Phuket, American, Real, Mardi, Nepal, Africa, Cambodia, Vietnam, Europe, Canada, Paris, Uganda, Asia

☆ Caitlin Clark, the top rookie female basketball player in the US, is making less than the average detective or acupuncturist
▼ + stars: | 2024-04-16 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Caitlin Clark will earn less in the WNBA than some trade jobs – and the average athlete. Despite her low base salary, Clark could make over $3 million from brand sponsorships and endorsements. Clark, who wore a $17,000 Prada outfit to the draft, will make an estimated base salary of $76,535 in her first year. Lower-level draft picks make $64,154 as a base salary, but salaries are much higher for non-rookie players: The highest-paid WNBA players make over $200,000 in base salary. Despite the low base salary, Clark, who has over two million social media followers, stands to make major money from brand sponsorships and endorsements.

Persons: Caitlin Clark, Clark, —, she'll, I've Organizations: WNBA, NBA, Service, Basketball Association, Indiana Fever, NCAA, of Labor Statistics, Bureau of Labor Statistics, Revenue, Bloomberg, Nike, Gatorade, State Farm Insurance

☆ Global iPhone shipments fell 9.6% in the first quarter, another sign of Apple's woes this year
▼ + stars: | 2024-04-15 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Apple's global iPhone shipments dropped by nearly 10% this quarter, a new research report said. Global smartphone shipments rose by 7.8%, as Chinese smartphone makers shipped more. Samsung surpassed Apple's shipments by 10 million units in the first three months of the year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn another blow to Apple, iPhone shipments fell nearly 10% in the first three months of the year, even as global smartphone shipments increased.

Persons: — Organizations: Global, Samsung, Service, Apple, International Data Corporation, Business Locations: South Korea

☆ Taylor Swift pulled another power move that showcases just how much industry influence she has
▼ + stars: | 2024-04-12 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Taylor Swift brings her music back to TikTok, undermining a UMG attempt to keep off the platform. Her move is celebrated by fans and highlights the influence she holds in the music industry. It gives her control of where her work is available, unlike other UMG artists, whose music is still off TikTok. Related storiesThe move is another example of the power Swift holds by owning her music. In 2014, Swift pulled her music off streaming giant Spotify over concerns of their "freemium" business model.

Persons: Taylor Swift, —, Taylor, she's, Swift, Scooter Braun, Swift's, UMG, TikTok Organizations: UMG, Service, Universal Music Group, Poets Department, Sony, Warner Music Group, TikTok Locations: TikTok

☆ A data specialist shares the 2-page résumé that got him a $300,000 job at Google — and explains 3 details he got right on it.
▼ + stars: | 2024-04-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

The résumé that landed Virmani a job at Google is two pages long — a decision he defends today. Six months after deciding to switch careers, he landed a role as a data and machine learning specialist at Google's Seattle office. Related storiesHere's the résumé he used to apply for his job at Google, which pays more than $300,000 a year. She sent her video résumé, which took her 10 hours to create, to the hiring manager directly, Kobayashi previously told BI. A Google recruiter saw the video and reached out to her, and she eventually landed a role at the tech giant.

Persons: Ankit Virmani, —, Virmani, Ankit, you'll, Gen Zs, West, Mariana Kobayashi, Kobayashi, Axel Springer Organizations: Deloitte, Google, Service, Microsoft, Business Locations: India, Seattle, shubhangigoel@insider.com

☆ Smucker's fifth-generation CEO said he's no nepo baby and won't let his kids be, either
▼ + stars: | 2024-04-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Mark Smucker, the CEO of J. M. Smucker Company, said the company is a meritocracy. Smucker, a fifth-generation leader, worked outside the company and got a graduate degree before joining. Family members must work outside the company and preferably hold a graduate degree. AdvertisementThe CEO said he was not always keen to join the family business as a child. "One is that you've got to work outside the company no matter what.

Persons: Mark Smucker, —, Smucker's, Orville, Smucker, Fortune, William & Mary, you've, Richard, Richard Smucker, Thomas Kirk Organizations: Smucker, Service, William &, Arizona State, Brightstar Capital Partners, New York Magazine Locations: Orville , Ohio, Alabama, Argentina, South America, Danish

☆ Spain is about to make it much harder for wealthy foreigners to buy their way into residency
▼ + stars: | 2024-04-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Spain plans to end "golden visas" for non-EU citizens investing €500,000 in real estate. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSpain will no longer hand out "golden visas" to foreigners willing to pay big bucks for them. AdvertisementIn the last year, Ireland, the Netherlands, Portugal, and Greece have all shut down or tightened their golden visa programs for similar reasons. In 2018, New Zealand banned foreigners from buying existing homes following a housing affordability crisis, similar to Spain and Portugal's current situation.

Persons: —, Pedro Sánchez, Sánchez, it's, Peter Thiel, Meghan Morris Organizations: EU, Service, European Union, Associated Press, OECD, Investment, Henley & Partners Locations: Spain, Portugal, Greece, Ireland, Netherlands, Barcelona, Madrid, Valencia, Europe, New Zealand

☆ Millions of people are traveling to see the total eclipse. Hotels, motels, and skydiving operators are making bank on it.
▼ + stars: | 2024-04-08 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

AdvertisementAs millions of Americans get ready to watch the total solar eclipse on Monday — an event NASA has described as rare and "spectacular" — the phenomenon stands to lift local economies. According to NASA, this year's eclipse is set to last three to four minutes, longer than the last solar eclipse, in 2017. Former President Donald Trump looked up at the solar eclipse without glasses during the last eclipse. The glasses sold for $1.50 to $2 apiece. "We've shipped already about 70 million glasses, and I suspect I'm going to approach right at 75 million by the time next week comes," Jerit said.

Persons: —, Donald Trump, John Jerit, We've, Jerit, Jason Berger Organizations: Service, NASA, Perryman Group, New York Times, Marriott, The Washington, Getty, Optics, NPR, Fox News Locations: Texas, New York, Texas , Ohio, Grayville , Illinois, Dallas

☆ Blue checks are back on X. Not everybody wants theirs.
▼ + stars: | 2024-04-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Elon Musk is giving away free Premium perks to accounts with a large number of verified followers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is giving out free Premium and Premium Plus benefits to accounts with a high number of verified followers. On Wednesday, some X users posted about seeing the familiar blue check next to their handles despite not paying for those subscriptions.

Persons: Elon Musk, —, Elon, Musk Organizations: Service, Business

☆ I was poached and then laid off 60 days later. I was embarrassed to talk about it, but doing so helped me get my next job.
▼ + stars: | 2024-04-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

A company poached Amanda Nielsen from her job and then let her go 60 days later. I survived the cut, but a lot of my team was let go, and the job didn't feel the same. A manager from another company in the same industry reached out and made me a job offer I could not refuse. Even though I was open-minded about roles and had a solid résumé and network, I struggled with my job hunt. I joked that my calendar was just as full during my job search as when I was working full time.

Persons: Amanda Nielsen, Nielsen, — Organizations: LinkedIn, Service Locations: Denver

☆ Struggling electric vehicle company Canoo spent twice as much on its CEO's private jet as it pulled in last year
▼ + stars: | 2024-04-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Canoo spent $1.7 million on CEO Tony Aquila's private jet bills, twice its 2023 revenue. Investors often scrutinize private jet spending, especially when a company is in trouble. AdvertisementElectric vehicle company Canoo spent twice as much on its CEO's private jet trips as it brought in last year. Canoo, which has never turned a profit as a public company, paid $1.7 million in "aircraft reimbursements" for its CEO last year. This story is available exclusively to Business Insider subscribers.

Persons: Canoo, Tony, — Organizations: Service, Business

☆ I was poached, then laid off 60 days later. I was embarrassed to talk about it, but doing so helped me get my next job.
▼ + stars: | 2024-04-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

A company poached Amanda Nielsen from her job, then let her go 60 days later. A manager from another company in the same industry reached out and made me a job offer I could not refuse. One thing that had changed since my last job search four years earlier was the pandemic and the rise of remote work. I joked that my calendar was just as full during my job search as when I was working full-time. I also continued to post content about my job search journey, which can feel embarrassing and uncomfortable, but it helped people learn that I was still on the market.

Persons: Amanda Nielsen, Nielsen, — Organizations: LinkedIn, Service Locations: Denver

☆ A data scientist who retired at 36 shares 3 charts that helped him manage his money and get out of the corporate world early
▼ + stars: | 2024-04-03 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Yaron Goldstein retired at 36, following a successful career as a data scientist. AdvertisementYaron Goldstein retired at 36, around 10 years after he first started working. His career as a data scientist took him from consulting to tech giants such as Google and Meta. Goldstein told Business Insider that he found two money strategies that worked for him. This story is available exclusively to Business Insider subscribers.

Persons: Yaron Goldstein, Goldstein, — Organizations: Service, Google, Meta, Business

☆ Summer travel could be extra chaotic as United pilots take unpaid leave and Boeing issues pile up
▼ + stars: | 2024-04-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

United Airlines has asked its pilots to take unpaid leave this summer and possibly into the fall. Across airlines, summer fliers may see disrupted flight schedules and pricier tickets. AdvertisementIn an early blow to summer travel, United Airlines has asked its pilots to take an unpaid leave next month, citing delayed aircraft deliveries from Boeing. Related storiesThe specific changes to United's summer flight lineup were not immediately available. Last week, the US Federal Aviation Administration said it was increasing scrutiny of United to ensure the airline's compliance with safety regulations.

Persons: —, Richard Aboulafia, Scott Kirby Organizations: Airlines, Service, United Airlines, Boeing, CNBC, United, Air Line Pilots Association, Business Insider, Ryanair, Transportation, Southwest Airlines, Alaska Airlines, US Federal Aviation Administration Locations: Frankfurt, Oregon, San Francisco, Japan

☆ The accountant shortage is so bad that it's delaying key reports at companies like Tupperware
▼ + stars: | 2024-04-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Read previewThe accountant shortage is so bad that companies are delaying filing key mandatory reports. On Friday, Tupperware said it didn't have enough accountants to get its annual report out on time. The storage container manufacturer is the latest on a growing list of companies that have delayed their annual reports for a host of reasons. About 70 companies have postponed annual reports this year, up 40% from last year, research company Intelligize tallied last month. Tupperware added that previous delays in filing its 2022 annual report led to postponement of its quarterly reports, which subsequently pushed back work on its 2023 annual report.

Persons: —, Tupperware, Intelligize, Steven Kachelmeier, Fitness Organizations: Service, Business, LinkedIn, PricewaterhouseCoopers, American Institute of Certified Public Accountants, US Bureau of Labor Statistics, Accountants, University of Texas, Mattel, Securities, Exchanges Locations: Orlando, Poland, American

☆ I've been a tech recruiter for 19 years for giants like Google. These are the 4 questions you should ask at the end of an interview.
▼ + stars: | 2024-04-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Related storiesHere are four questions I would ask at the end of my interviews. It is always nice to hear people ask questions about which team they'll join and how many peers they will have. For startups, this could be funding-related challenges; for tech companies, it could be shifting to new software.

Persons: Dhritiparna Dhar, —, I've, they'll, shubhangigoel@insider.com Organizations: Service, Yahoo, Google, Dell Locations: Bengaluru, India

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