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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWarren Buffett is cashing in stocks like Apple because he knows the good times won't last — but he'll spend big once disaster strikes, a veteran strategist says. AdvertisementThe conglomerate's disposals fueled a $21 billion increase in its stack of cash and Treasurys to a record $189 billion. Related storiesDietrich underscored that as a value investor, Buffett prizes underpriced assets and avoids expensive ones. Apple, which remains Buffett's largest stock holding by far, has more than tripled in value since he finished building the position in 2018.
Persons: , Warren Buffett, Paul Dietrich, Riley Wealth, Buffett, Dietrich, He's, Jeff Bezos, Jamie Dimon, Meta's Mark Zuckerberg, he'll, Goldman Sachs, Davidson Organizations: Service, Apple, Business, Berkshire Hathaway, Berkshire, Walmart, downturns, Electric, Dow Chemical Locations: Berkshire
The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.
Persons: , Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia
AdvertisementThis is one of the arguments Donald Trump's lawyers have advanced in his defense for his hush-money trial: Trump didn't do anything wrong. Cohen met with Allen Weisselberg, the now-former Trump Organization CFO, in January of 2017 to hash out how he'd get reimbursed by Trump and the Trump Organization, according to records shown at trial. Occasionally, he'd write "VOID" on one he didn't want to be paid, according to Trump Organization employee Deborah Tarassoff. If Trump had a question about a check, he'd talk with a Trump Organization employee about it, Westerhout testified. Advertisement"Am I correct that when he would sign checks, he was often multitasking?"
Persons: , Donald, Trump, Michael Cohen, reimbursing Michael Cohen —, Stormy Daniels, Daniels, Cohen, Hope Hicks, Hicks, Susan Necheles, Madeleine Westerhout, Necheles, Westerhout, he's, — Trump, Allen Weisselberg, he'd, Weisselberg, Jeffrey McConney, Trump's, Keith Schiller, Deborah Tarassoff, Tarassoff, Rhona Graff, Donald Trump, Westerhout didn't, Rebecca Manochio, Manochio, Graff, what's Organizations: Service, Business, FBI, The Manhattan, Attorney's, Trump Organization, Wall Street, Trump, Washington Post, FedEx, White, Manhattan, New York Locations: United States, New York, North Korea, Russia, Manhattan, Washington, DC, New York City, Westchester
Representative Jasmine Crockett was sitting in a House Oversight Committee hearing last fall, growing increasingly frustrated as she listened to Republicans accuse President Biden of impeachable offenses without producing any evidence, when she had an idea. Ms. Crockett, a freshman Democrat from Texas and former defense attorney, summoned an aide and asked them to quickly print out a stack of photos showing the boxes of sensitive government documents stashed by a toilet at Mar-a-Lago, former President Donald J. Trump’s club in Palm Beach, Fla. Moments later, Ms. Crockett was brandishing the photos above her head, accusing Republicans of ignoring clear evidence that Mr. Trump had violated the law while pushing allegations against Mr. Biden for which they had shown no proof. “When we start talking about things that look like evidence, they want to act like they blind,” Ms. Crockett said of Republicans, spitting her words with a mix of outrage and bemusement. “These are our national secrets,” apparently in a toilet, she added, using an expletive to describe the plumbing.
Persons: Jasmine Crockett, Biden, Crockett, Donald J, Trump, Mr, Ms, Locations: Texas, Mar, Palm Beach, Fla
It's still sitting unused in a drawer, with other gift cards that I haven't touched. "Oh, I will," I responded, thinking of the other massage gift certificate from my birthday that was still tucked in my desk drawer, gathering dust. The massage gift card from last year sits on my dresser in a pile of other plastic cards that were cluttering my purse. Well-meaning gift-givers bestow us with restaurant cards, manicure gift cards, and even more grandiose gestures such as weekend getaways. For all gift-givers looking to show their mother how much they love them with such a gift, think of it like an all-inclusive resort.
Persons: It's, , she's Organizations: Service
On the agenda today:This story is available exclusively to Business Insider subscribers. But first: Where did Mother's Day brunch come from? Austin Melonie Carroll / Getty ImagesThis week's dispatchMother's Day brunchAdvertisementIt's Mother's Day tomorrow — a holiday that can be joyful for many, but also difficult and emotional for others. For those celebrating the holiday, I have a feeling you might be doing something that just feels synonymous with Mother's Day: brunching. I asked Business Insider lifestyle correspondent Anneta Konstantinides for her thoughts — and whether she has any brunch tips.
Persons: , Austin Melonie Carroll, Anneta Konstantinides, Ina Garten's, Matteo Colombo, Dia Dipasupil, Abanti Chowdhury, Pine, That's, Chris Pine's, Charles Tyrwhitt, Chelsea Jia Feng, Reginald Ferguson, Tyler Le, Anne Rice's, Brooke Shields, Von Erich Organizations: Service, Business, Mother's, Taj, Lionsgate, Paramount, Warner Bros, Dia, Getty, Denzel, Casio, Chelsea, BI, AMC Locations: Town, South Africa, United States, Istanbul, Denzel Washington, Patagonia
When I started college, my mother enrolled, too; she was 42 years old. AdvertisementFor most of her life, my mother followed traditionMy mother met my father during her freshman year of college. My mother spent most of her time alone — well, as alone as you can be raising kids. She made a three-dimensional Wonder Woman birthday cake and a World Wrestling boxing ring out of toothpicks. She finally decided to chase her dreamsWhile my mother typed my college applications, she was also typing her own — in secret.
Persons: , Raggedy Ann, Who'd, I'd Organizations: Service, Wrestling, Red Sox Locations: toothpicks
Shopify has acquired the team working on analytics startup Peel Insights, the Canadian e-commerce giant confirmed Friday. Peel works primarily with Shopify merchants and can integrate with apps across their tech stack, including Klaviyo and Recharge. Peel's CEO and cofounder, Nicolas Grasset, is now a director of product at Shopify, according to his LinkedIn, and the Peel app is still available on the Shopify App Store. Related stories"With the Peel Insights team at Shopify, we can supercharge insights features for our millions of merchants," they said. In 2021, it brought on the team from AR startup Primer to work on AI and spatial computing at Shopify.
Persons: Shopify, Peel, Lerer Hippeau, Nicolas Grasset Organizations: Business, Eniac Ventures, Vinyl Capital, Peel Locations: Peel, Swedish, Triple
But the cameras stopped rolling when Walid al-Omari, the network’s bureau chief in Ramallah, in the West Bank, ordered all of them to go home. Israeli authorities descended on a room used by Al Jazeera in the Ambassador Hotel in East Jerusalem, confiscating broadcast equipment. Al Jazeera, the influential Arab news network, says it will continue reporting and broadcasting from the Gaza Strip and the West Bank. The shutdown order, which lasts 45 days and can be renewed, was a break long in the making. Mr. al-Omari said that soon after the Israel-Hamas war began in October, the network stopped using an office in West Jerusalem, saying that far-right Israelis had used intimidation tactics against the staff there.
Persons: Al, Walid al, Al Jazeera, Omari Organizations: West Bank, Al, Gaza, Hamas Locations: Israel, Al Jazeera, West Jerusalem, East Jerusalem, Lebanon, Tel Aviv, Ramallah
Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.
Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN
Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.
Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, , Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe
Amjad Abu Daqqa was among the top students at his school in Khan Younis, excelling in math and English, and he was applying for a scholarship to study in the United States when war erupted in the Gaza Strip last October. Teachers used to reward his good grades with trips to local historical sites or to the pier, where they would watch boats and take pictures of the sunset. He dreamed of going into medicine like his big sister, Nagham, who studied dentistry in Gaza City. But his old life and old dreams now feel far away. “I feel like I am a body without a soul, and I want to feel hopeful again.”
Persons: Amjad Abu Daqqa, Khan Younis, Nagham, , Amjad Locations: United States, Gaza, Gaza City, Rafah
Israeli warplanes pounded targets in the southern Gaza city of Rafah on Monday as the military told about 110,000 people sheltering there to evacuate. Many people began to leave, fearing that Israel was moving ahead with its long-planned invasion of Rafah, despite stiff international pressure. A military spokesman would not say when troops might enter the crowded city, but described the evacuation as part of Israel’s plans to dismantle Hamas and to free hostages taken on Oct. 7. Hours after the evacuation order, the political leader of Hamas, Ismail Haniyeh, issued a statement that the group had accepted a new cease-fire proposal from Qatar and Egypt, which have acted as intermediaries in peace talks. The group and Israeli officials said it was not referring to the proposal that Israel recently agreed to, leaving the conflict unresolved.
Persons: Israel, Benjamin Netanyahu’s, , Ismail Haniyeh Organizations: Hamas Locations: Gaza, Rafah, Qatar, Egypt, Israel
Image Employees working at the offices of Al Jazeera in Jerusalem. Mr. Netanyahu, who made the announcement on social media, had previously called Al Jazeera a “Hamas mouthpiece” and said he would close it. Israeli lawmakers passed a bill last month allowing the government to temporarily close foreign media outlets that Mr. Netanyahu determined were undermining the country’s national security. “The government under my leadership has decided unanimously: The incitement channel Al Jazeera will be shut down in Israel,” Mr. Netanyahu said on X, formerly Twitter. In January, his eldest son was killed in an Israeli airstrike, according to the authorities in Gaza.
Persons: Ammar Awad, Benjamin Netanyahu, Israel, Shlomo Karhi, Al, Mr, Netanyahu, , Avraham Hasson, Hasson, Al Jazeera, , ” Mr, Wael al Organizations: Al, Reuters, Journalism, Hamas, West Bank Locations: Al Jazeera, Jerusalem ., Qatar, Gaza, Israel, Al Jazeera’s, Qatari
Hamas said on Sunday that its armed wing had fired rockets at Israeli forces near the Kerem Shalom border crossing between Gaza and Israel. The Israeli military said about 10 rockets had been fired from an area near the Rafah crossing between Gaza and Egypt toward Kerem Shalom. Kerem Shalom is one of the few crossings through which humanitarian aid is able to enter the Gaza Strip. After the attack on Sunday, the army said it was closed to the passage of aid trucks. Israel’s Foreign Ministry condemned the attack and said it showed that Hamas was not interested in having aid enter the territory, parts of which a United Nations official says are experiencing “a full-blown famine.”
Persons: Kan, Kerem Shalom, Organizations: Israel’s Foreign Ministry, United Nations Locations: Kerem, Gaza, Israel, Egypt, Kerem Shalom
The director of the World Food Program, Cindy McCain, says that parts of the Gaza Strip are experiencing a “full-blown famine” that is rapidly spreading throughout the territory after almost seven months of war. Ms. McCain is the second high-profile American leading a U.S. government or U.N. aid effort who has said that there is famine in northern Gaza, although her remarks do not constitute an official declaration, which is a complex bureaucratic process. “There is famine — full-blown famine in the north, and it’s moving its way south,” Ms. McCain said in excerpts released on Friday of an interview with “Meet the Press.” The interviewer, Kristen Welker, asked Ms. McCain to repeat herself. “What you are saying is significant,” Ms. Welker said. “You are saying there is full-blown famine in northern Gaza?”
Persons: Cindy McCain, McCain, ” Ms, Kristen Welker, Ms, Welker Organizations: Food, , Press Locations: Gaza, U.S
The leader of the World Food Program said that parts of the Gaza Strip are experiencing a “full-blown famine” that is spreading across the territory after almost seven months of war that have made delivering aid extremely challenging. “There is famine — full-blown famine in the north, and it’s moving its way south,” Cindy McCain, the program’s director, said in excerpts released late Friday of an interview with “Meet The Press.”Ms. McCain is the second high-profile American leading a U.S. government or U.N. aid effort who has said that there is famine in northern Gaza, although her remarks do not constitute an official declaration, which is a complex bureaucratic process. She did not explain why an official famine declaration has not been made. But she said her assessment was “based on what we have seen and what we have experienced on the ground.”
Persons: ” Cindy McCain, ” Ms, McCain Organizations: Food Program, , Press Locations: Gaza, U.S
DVD collections can look cluttered. Cheevarut/ShutterstockThough your stack of limited-edition DVDs can be a great conversation starter, they're going to make your room look busy and overwhelming. Giant stacks of books or movies can be visually distracting but a storage solution will give your space a less cluttered atmosphere and make the room more relaxing. A good storage solution for movies and books is also a great way to visually conceal the items while keeping them in one desired location. Many bookshelves or media stands have closed fronts with drawers or doors to conceal miscellaneous items.
Video ads within Roblox are similar to real-world digital out-of-home advertising. A Roblox Portal Ad for a "Teenage Mutant Ninja Turtles" pizza party experience. Roblox/GamefamRoblox's partnerships boss, Christina Wootton, previously told Business Insider that while 2023 was a year of testing, 2024 would be the "year of scale" for its ads business. Roblox ads are labeled and can only be served to users over the age of 13, the company said. "If you literally just slap ads within the game, people are going to run a mile," Litman added.
Persons: Roblox, we'll, Stephanie Latham, Christina Wootton, Michael Guthrie, Latham, Ben Fox, David Vesper, it's, Nathan Pillot, Pillot, It's, Michael Litman, Litman Organizations: Business, Walmart, Warner Bros . Pictures, HUGO, Meta, Yahoo, Google, Social, viewability, Media.Monks, Logitech Locations: Roblox
(Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)U.S. cloud infrastructure provider Oracle is boosting its generative AI capabilities as cloud competition intensifies and more companies jump into AI. Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them. The generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said. JPMorgan has said generative AI and AI could drive incremental IT spending and growth across the software landscape. "Generative AI services [are] basically a huge advantage comparing with our competition.
Persons: PAU BARRENA, ChatGPT, Rondy Ng, it's, Ng, Dan Ives, Ellison, Ives, Larry Ellison, Gartner Organizations: Mobile World Congress, MWC, Getty Images, Oracle, CNBC, Wedbush Securities, JPMorgan Locations: Barcelona, AFP, U.S
Kasa Living has made a habit of raising funds at some of the hardest times for the hospitality and proptech industries. Kasa Living CEO and founder Roman Pedan points to the shares of Marriott and Hilton, which are up over the last five years, as an indication of what Kasa could be. Kasa Living is now working with some investment firms to help locate and buy buildings that Kasa Living will operate, a model known as OpCo/PropCo. Instead of having to hire someone to handle bookings and finances for each property, Kasa Living handles it all centrally, "removing that fixed cost." Some financial information has been redacted from the deck by Kasa Living.
Persons: Roman Pedan, Kasa, Pedan, Pendan Organizations: Marriott, Hilton, KKR, Sonder, TPG, Amazon Web, Citi Ventures, FirstMark, New York Life Ventures, Fireside Investments, RET, Zigg, Ribbit, EBay, Kasa Locations: Brookfield
Microsoft and Alphabet reported quarterly earnings that beat Wall Street's expectations. On Thursday, just off the heels of Meta's mixed first-quarter results that caused a dip on Wall Street, Microsoft and Alphabet just proved that there's money to be made off of artificial intelligence. However, the executive also made sure to highlight the contributions of Google Cloud, which now comes with generative AI services through Google's AI model, Gemini. Investors appeared pleased with Microsoft's and Alphabet's quarterly performance, which gave the companies a stock surge, as Wall Street continues to nurse a hangover from Meta's first-quarter report. "They have a goldmine of AI engineers and data, and now they're starting to monetize it," Ives said of Alphabet and Microsoft.
Persons: Wedbush's Dan Ives, , Meta's, Sundar Pichai, Mercedes, Pichai, Ruth Porat, Satya Nadella's, Nadella, Microsoft's, Dan Ives, Ives Organizations: Microsoft, CNBC, Service, Google, Bayer, Cintas, Mercedes Benz, Walmart
That's certainly true of her latest album, "The Tortured Poets Department," which arrived last Friday to mixed reviews. New Taylor Swift music is bound to spark widespread debate, but the conversation swelled when she surprise-released "The Tortured Poets Department: The Anthology," a deluxe edition with 15 extra songs. Indeed, most of these deluxe tracks succeed as self-contained stories, recalling the mythic peaks of "Folklore" and "Evermore." Then again, more songs equals more streams, and "The Tortured Poets Department" is on target to become one of the most-played albums of the streaming era. AdvertisementFinal Grade: 9.3/10"The Tortured Poets Department: The Anthology" was released on April 19, 2024.
Persons: , Taylor Swift, I'm, Swift, I've, Swift's, aIMee, Cassandra, Peter, Wendy, shouldn't, It's, Beth Garrabrant Worth, Chloe, Sam, Sophia, Marcus, Robin Organizations: Service, Poets Department, Business, Department, Press Locations: Cardigan
When Google sneezes, the entire online advertising industry catches a cold. Google's announcement Tuesday that it would again delay its planned timeline for killing off third-party tracking cookies had long been anticipated by the digital advertising industry. Google has a 28% share of the online ad market, according to market research firm Emarketer (a sister company to BI). Regulators could step in to resolve the cookie chaosSome industry experts are hoping regulators will step in to untangle the mess. Amid the four years of confusion, chaos, and harumphing, there has been one consistent theme: When it comes to the future of online advertising, Google calls the shots.
Persons: Ciaran O'Kane, WireCorp, hasn't, Sundar Pichai, Stephen Lam, Mathieu Roche, James Rosewell, Google's, haven't, Pierre Devoize, Devoize Organizations: Google, Business, Gmail, Antitrust, US Department of Justice, European Commission, UK's, Markets Authority, CMA, Industry, IAB Tech, EU Google, Chrome, Movement Locations: FirstPartyCapital
The United Nations’ human rights office on Tuesday called for an independent investigation into two mass graves found after Israeli forces withdrew from hospitals in Gaza, including one discovered days ago over which Israeli and Palestinian authorities offered differing accounts. He accused Israeli forces of killing and burying them. It did not comment on the report of the mass grave at Al-Shifa. It also did not say how the bodies had been examined to determine if they were those of Israeli hostages. “Bodies examined, which did not belong to Israeli hostages, were returned to their place.”
Persons: Khan Younis, , Organizations: United Nations, Palestinian Civil Defense, Nasser Hospital, Shifa, Palestinian Authority Locations: Gaza, Khan, Al, Gaza City, Mahmoud
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