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☆ Brexit border checks: Britain braces for less choice and higher prices on food imports
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | Anna Cooban | ) edition.cnn.com time to read: +10 min

The new regime for food imports is perhaps the starkest example of the painful border bureaucracy that UK and EU businesses must contend with in the wake of Brexit. An additional cost of that scale will “significantly increase food prices and reduce choice,” the federation’s CEO Phil Pluck wrote in a letter to environment and food minister Steve Barclay earlier this month. But here too Brexit hasn’t helped, ending as it did the free movement of EU workers on whom British farmers had relied for decades. In addition to Brexit-related challenges, UK farmers have been squeezed by soaring input costs, including those of fertilizer, energy and labor. “I’m not hugely in favor of subsidies, I’m in favor of fair food prices,” Maddocks said.

Persons: Eddie Price, ”, Phil, Steve Barclay, Andrew Aitchison, Andrew Opie, “, Jack Bobo, “ It’s, Price, hasn’t, ” Tom Bradshaw, “ You’re, Chris Ratcliffe, Brexit, ” Philip Maddocks, I’m, ” Maddocks Organizations: London CNN, European Union, EU, Britain, Birmingham Wholesale, CNN, Chain Federation, British Retail Consortium, University of York, Food Systems, University of Nottingham, Birmingham Wholesale Market, Bank, National Farmers ’ Union, Bloomberg, Getty, PDM Locations: United Kingdom, Britain, France, Spain, artichokes, Italy, Birmingham, Dover, Port, Netherlands, Ireland, Germany, North Africa, England, Sandwich, Australia, New Zealand, English, Shropshire

☆ 86% of expats report being stressed out, but study suggests they may also cope better with burnout
▼ + stars: | 2024-04-30 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Globally mobile employees often have... a mental and physical feeling of being healthy, capable, and energetic – and a strong sense of meaning and purpose. So why do globally mobile individuals score higher on vitality despite reporting higher stress and burnout levels compared to local counterparts? Globally mobile employees emerge as a highly valuable and resilient segment of the workforce. Despite facing unique stressors associated with their situation, they exhibit distinct skills and a high level of motivation, resulting in higher vitality. 2024 Cigna Healthcare Vitality Study

Persons: Ernestine Siu It's, Wendy Sherry, Sherry Organizations: Healthcare, Global Health, International Health, Cigna, Cigna Healthcare, Financial Locations: United States, Singapore, U.S, Spain, Netherlands, Belgium, Switzerland, Kenya, United Arab Emirates, Saudi Arabia, China, Hong Kong, Asia, Middle East, Africa, UAE, Europe

☆ AI has entered the workplace. 3 industry leaders discuss how businesses can embrace it.
▼ + stars: | 2024-04-30 | by ( Leila Jordan | ) www.businessinsider.com time to read: +4 min

As the new technology accelerates in skill and ubiquity, business leaders are racing to figure out what the relationship between workers and AI will look like in years to come. Business Insider's virtual event "Human-AI Collaboration: The Key to Workplace Efficiency and Innovation," presented by Dell Technologies, brought together a panel of experts to discuss the trials, triumphs, and future of AI. He discussed the major ways in which Dell is integrating AI into its processes, from increasing productivity for developers to automating content. "There are predictions that we could have two times, three times, even four times the employment demand for new job growth as a result of gen-AI and AI ethicists, AI translators, AI mediators, AI co-creative, AI legal, and compliance experts," Miscovich said. Working with AI from the ground floor can allow businesses to design the parameters that will guide AI's future presence in the workplace.

Persons: Matt Baker, Mozziyar Etemadi, Peter Miscovich, Tim Paradis, Baker, Miscovich, Etemadi Organizations: Service, Efficiency, Dell Technologies, Business, Dell, Northwestern Medicine, AIs

☆ Elon Musk is $36 billion richer since returning from his triumphant China trip
▼ + stars: | 2024-04-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Elon Musk has gained $36 billion in net worth over the last week, per Bloomberg. Musk is reaping the benefits after Tesla shares surged following his successful trip to China. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is $36 billion richer following his recent trip to China. Three years later, he's now behind LVMH boss Bernard Arnault and Amazon founder Jeff Bezos, with a current estimated net worth of $202 billion.

Persons: Elon Musk, —, Elon, Musk, Dan Ives, he's, Bernard Arnault, Jeff Bezos, Tesla Organizations: Bloomberg, Service, Tesla, SpaceX, Amazon Locations: China, China . China

☆ Volkswagen’s electric car orders double in Europe
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs. New orders for electric cars more than doubled in Europe, Volkswagen said in an earnings statement Tuesday. He acknowledged, however, that the pace of EV sales growth in Europe and the United States had been slower than the German carmaker had originally anticipated. As for Volkswagen’s EV deliveries, they declined 16% in Europe in the first quarter compared with the same period in 2023. “With these actions and our highly profitable combustion engine car business, we are well-prepared to continue to play a leading role in China,” Antlitz said.

Persons: London CNN —, Arno Antlitz, carmaker, ”, Antlitz, ” Antlitz Organizations: London CNN, Volkswagen, Europe’s, CNN, EV, ” Locations: Europe, EVs ., United States, China

☆ Elon Musk had a 'hilarious' way of asking if an ex-Twitter exec wanted to work for him
▼ + stars: | 2024-04-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Elon Musk had a strange way of phrasing a job offer to a former Twitter exec. Beykpour said Musk asked if he wanted to "swipe right" and "hang out and work on the product." During one of their conversations, Musk asked if Beykpour would be interested in continuing to work on product at Twitter. Musk asked Beykpour to "swipe right on whether you want to be here," the Periscope cofounder said. He used the swipe right, swipe left Tinder metaphor and I thought that was kind of hilarious coming from him," Beykpour said.

Persons: Elon Musk, Kayvon Beykpour, Musk's, Beykpour, Musk, —, Parag Agrawal, Elon Musk's, Getty, Noam Galai Beykpour, Walter Isaacson, Isaacson, Elon, I'm, I've Organizations: Twitter, Service Locations: Elon

☆ Read the email Fisker sent to staff warning of layoffs if the company can't correct course
▼ + stars: | 2024-04-30 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFisker warned employees on Monday that they could be laid off in two month and the company's facility could close if the company is unable to course correct. The company told staff it was bringing in a restructuring officer last week, according to a previous email viewed by BI. AdvertisementThree current employees told BI that everyone they had spoken to at Fisker said they had received the notice. Should this possibility materialize, the Company has an obligation to provide "conditional notice" that employees — including yourself — will be terminated on June 28, 2024.

Persons: —, Fisker, John DiDonato Organizations: Service, Business, BI, Worker, Fisker, Inc, Company Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna, ____________

☆ PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

PayPal raised its full-year adjusted profit forecast on Tuesday, as the payments giant benefited from robust consumer spending, while measures to cut costs improved operating margins in the first quarter. Consumer spending has shown remarkable resilience even as economic worries clouded the outlook for the payments sector for months. The company expects 2024 adjusted profit to increase by "mid-to-high single-digit percentage", compared with its earlier forecast of it remaining flat. PayPal's operating margins improved 84 basis points, on an adjusted basis, to 18.2% in the first quarter. The company's low-margin business products have risen strongly, while growth in its branded products slowed due to increased pressure from competitors such as Apple .

Persons: Alex Chriss Organizations: PayPal, Nasdaq, FX, Apple Locations: San Jose , California

☆ Musk lays off Tesla senior executives in fresh job cuts, The Information reports
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

Tesla and SpaceX's CEO Elon Musk reacts during an in-conversation event with British Prime Minister Rishi Sunak in London on Nov. 2, 2023. Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, The Information reported on Tuesday, citing the CEO's email to senior managers. Rebecca Tinucci, senior director of the electric vehicle maker's Supercharger business, and Daniel Ho, head of the new vehicles program, will leave on Tuesday morning, the report said. Musk also plans to dismiss everyone working for Tinucci and Ho, including the roughly 500 employees who work in the Supercharger group, The Information said. Tesla, which had 140,473 employees globally as of end-2023, did not immediately respond to a Reuters' request for comment.

Persons: Tesla, Elon Musk, Rishi Sunak, Rebecca Tinucci, Daniel Ho, Musk, Ho, Rohan Patel, Tinucci, — Patel, Drew Baglino — Organizations: British Locations: London, China, Beijing, India

☆ How CEOs are preparing for possible employee protests
▼ + stars: | 2024-04-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

You can always choose to move on, but remember you don’t have a right to work at most companies. We can’t keep re-litigating when we also have a business to runYou speak with CEOs every day. Most of the CEOs I’ve talked to said they haven’t seen their employees protest, but they’re bracing for it. But I will say that I don’t think it will become that widespread because of how swiftly and unapologetically Google addressed it. I don’t think it will become a thing.

Persons: Sundar Pichai, Bell, Johnny C, Taylor Jr, that’s, we’re, We’re, we’ve, I’m, You’d, They’re, I’ve, Royce, Peter Valdes, “ We’re, ”, Martin Fritsches, “ That’s, Brian Fung, Sean Lyngaas, Satya Nadella, Sam Altman, Northrop Grumman, Alejandro Mayorkas Organizations: CNN Business, Bell, New York CNN, Google, Tech, Society for Human Resource Management, Companies, Royce, BMW, OpenAI, Microsoft, Department of Homeland Security, Delta Air Lines, DHS, “, Amazon Web Services, IBM, Cisco, ’, Civil Locations: New York, Israel, Chichester , England

☆ Glass Lewis endorses 6 of activist Ancora's nominees for Norfolk Southern board
▼ + stars: | 2024-04-29 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Activist investor Ancora received a powerful endorsement in its efforts to secure a board change and to oust Norfolk Southern CEO Alan Shaw on Monday, when proxy advisor Glass Lewis recommended the railroad's shareholders vote for 6 of Ancora's board nominees. "We believe Ancora has presented a compelling case for supporting a substantial overhaul of the Company's current leadership," Glass Lewis said in its report. Furthermore, Glass Lewis said Barber, Ancora's pick for CEO, and Jamie Boychuk, the activist's pick for COO, "have compelling credentials and track records." Ancora also seeks to install former CSX executive Boychuk as Barber's chief operating officer. Their support, coupled with Glass Lewis' endorsement, gives the activist powerful ammunition as it seeks to convince shareholders.

Persons: Ancora, Alan Shaw, Glass Lewis, Betsy Akins, Jim Barber, William Clyburn, Sameh Fahmy, Gilbert Lamphere, Allison Landry, Shaw, Amy Miles, Barber, Ancora's, Jamie Boychuk, Boychuk, John Orr Organizations: Norfolk Southern, Teamster, UPS, CNBC, CSX, Canadian National, CN, NSC, Norfolk Locations: Norfolk Southern, East Palestine , Ohio, Norfolk

☆ Fisker warns staff they could get laid off in 2 months
▼ + stars: | 2024-04-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Fisker warned staff of potential layoffs in two months, according to 3 employees and an email viewed by BI. Fisker announced a 15% staff cut earlier this year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFisker sent staff a notice on Monday telling them they could be laid off from the company in two months, according to 3 employees and an email viewed by Business Insider. AdvertisementThe three current employees told BI that everyone they had spoken to at Fisker said they had received the notice.

Persons: Fisker, —, Henrik Fisker Organizations: BI, Service, Business, Worker Locations: Manhattan Beach , California, La Palma , California, Munich, Vienna

☆ Shopify embraced a 'new shape' after a post-pandemic slump and has charted an 18-month comeback
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.

Persons: —, Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com

☆ Elon Musk comes out fighting as China throws Tesla a lifeline
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Elon Musk made a surprise visit to China, meeting officials and striking a deal with Baidu. The deal brings Tesla a step closer to introducing its self-driving features in cars sold in China. AdvertisementElon Musk's surprise visit to China appears to have paid off. Elon Musk was taken by minibus to his private jet at Beijing airport on Monday after a surprise visit to China. Musk's battle planMusk's China visit came amid tough times for Tesla.

Persons: Elon Musk, Tesla, —, Elon Musk's, Narendra Modi, Musk, Li Qiang, Greg Baker, Dan Ives, Wall, Telsa, Musk's, he's Organizations: Baidu, Service, Tesla, Bloomberg, EVs, Getty, Bloomberg TV, Business Locations: China, Beijing, India, AFP

☆ How a stay-at-home dad turned his passion for pickleball into 'a game changer' side hustle
▼ + stars: | 2024-04-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

But outside these and other tasks, Echavidre, 45, spends time playing pickleball in California. Other stay-at-home parents could find it helpful to pick up work on the side. Echavidre recommends other stay-at-home parents try to earn money through something they are passionate about if they have time. If you are looking to pick up side work, Echavidre said to look out for what's in demand. He said he especially finds older and retired people are playing pickleball.

Persons: —, Antoine Echavidre's, pickleball, Echavidre, Ted Rossman, Rossman, he's Organizations: Service, Sports & Fitness Industry Association, Business, Social, Fitness Locations: California, TeachMe.To, Japan, France

☆ Opinion: Small-town water systems are global cyber targets. Is your city next?
▼ + stars: | 2024-04-28 | by ( Opinion Robert M. Lee | ) edition.cnn.com time to read: +8 min

The town of Abernathy also reported a water system hack, and the towns of Lockney and Hale Center said hackers tried to breach their water infrastructure but did not succeed. Unlike how David was ready to take on Goliath, our most vulnerable critical infrastructure systems – including water infrastructure – are ill-prepared. The water attacks we’ve seen so far have not had serious consequences for the people they serve. According to the EPA, 90% of the nation’s community water systems are small, public systems bringing water to 10,000 or fewer customers. If we really want to help water utilities defend against cyber threats, we have to close the resource gap.

Persons: Robert M, Lee Dragos, David, we’ve, –, Iran –, Homeland Security’s Organizations: CNN, Cyber Army, Hale Center, Islamic Revolutionary Guard Corps, FBI, Rehabilitation, Government, Department, Homeland, Infrastructure Security Agency, National Security Agency, Environmental Protection Agency, Department of Homeland, Local Locations: Russia, Texas, Muleshoe, Abernathy, Lockney, Aliquippa , Pennsylvania, United States, China, North Korea, Iran, Department of Homeland Security’s State

☆ Why AI might make it harder to pull off a 4-day workweek
▼ + stars: | 2024-04-28 | by ( Tim Paradis | ) www.businessinsider.com time to read: +7 min

He also expects more go-getters will feel pressed to do the same as AI bores deeper into the workplace. Of course, if people need to oversee AI bots at all hours, workers could take on babysitting duty at different times of the day. But as he sees how AI will change how humans work, "people are going to get more and more tired — and busier," Gill said. Looking for a payoffNot everyone thinks AI will quash dreams of a four-day workweek. Whelehan said that, ultimately, management will decide whether AI will lead to job losses or enable a four-day workweek.

Persons: —, Binny Gill, Gill, Steve Cohen, Emily Rose McRae, McRae, Simon Johnson, Johnson, Alexey Korotich, Korotich, Dale Whelehan, Whelehan, Kognitos Organizations: Service, Business, New York Mets, Gartner, Massachusetts Institute of Technology, International Monetary Fund

☆ AI is making managers nervous
▼ + stars: | 2024-04-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Read previewManagers are worried that using powerful generative AI tools like OpenAI's ChatGPT in the workplace might cut their salaries. Of those surveyed, 48% of managers reported that AI tools are a "threat to their pay" and will "fuel wage declines" across the country in 2024. In early March, Cognition unveiled Devin, the 'first AI software engineer' the startup claims could fix bugs and train AI models. Sixty-two percent of managers surveyed, according to Beautiful.ai, said their employees feel like AI could eventually put them out of their jobs. "There's no doubt that the implementation of AI tools has employees questioning their value to a company," according to the survey.

Persons: —, Devin, Beautiful.ai, didn't Organizations: Service, Business

☆ Why so many men in the US have stopped working
▼ + stars: | 2024-04-28 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +10 min

AdvertisementIt could be all about recessionsSince the 1950s, whenever the US economy fell into a recession, the rate of working men tended to suffer a lasting blow. AdvertisementWhy have recessions appeared to have such a lasting impact on working men? The strong recovery of men working after the pandemic recession could be due to the unique nature of this downturn — which tanked an otherwise healthy economy. And of course, some lucky prime-age men aren't working because they've had a lot of financial success — and already retired. Deciphering how much these explanations have fueled the decline of working men could be worthy of further explanation, the economists said.

Persons: —, It's, Abigail Wozniak, Wozniak, David Autor, There's, Jason Furman, Barack Obama's, Elise Gould, Gould, aren't, we've, John M, Coglianese, they've Organizations: Service, Federal Reserve Bank of Minneapolis, Massachusetts Institute of Technology, Washington Post, of Labor Statistics, San Francisco Fed, BLS, Economic, Economic Policy Institute, Federal Reserve

☆ I'm a millennial who manages Gen Zs. Here are 4 things my youngest employees have taught me.
▼ + stars: | 2024-04-27 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

She told Business Insider she found managing Gen Z employees different from her fellow millennials. There are many things I love about managing Gen Z. AdvertisementWorking with Gen Z is different from managing millennialsI've been managing Gen Z workers for about three years. When people get stuck on the challenging aspects of working with Gen Z, they miss out on all the positives. Related storiesWhen I gave one of my Gen Z team members feedback, they said: "I appreciated the feedback you gave me.

Persons: Hannah Tooker, Tooker, —, It's, I've, Gen, millennials I've, Gen Z, they'll, they've, it's, We'd, Z, hasn't Organizations: Service, Gen Locations: LaneTerralever, Phoenix

One of the architects of that plan for a Trump second term said as much in a video last year for the Heritage Foundation. Reissuing Schedule F is part of a roadmap, known as Project 2025, drafted for a second Trump term by scores of conservative groups and published by the Heritage Foundation. The new rules would not fully block reclassifying workers in a second Trump term. Greene said she worries for federal workers who might face the same choice in a second Trump term. The project includes a personnel database for potential hires in a second Trump administration.

Persons: Donald Trump, it’s, —, Trump, Joe Biden, Donald Moynihan, Georgetown University's, ” Donald Moynihan, ” Moynihan, “ It’s, ”, Russell Vought, “, you’re, Doreen Greenwald, Moynihan, Kenneth Baer, Barack Obama, ” Kenneth Baer, Peter Orszag, Pete Souza, Robert Shea, Eva Shea, George W, Bush, Laura Bush, Tina Hager, ” Biden, Baer, George Frey, ” Trump, Max Stier, Verna Daniels, ” Daniels, Catherine Greene, ” Greene, Tom Bewick, NIFA, ” Bewick, we’ll, Greene, Biden, “ We’ve, He’s, Hillary Clinton, he’d, James Comey, Bill Barr, Barr, Jeffrey Clark, Clark, Mark Meadows, Stephen Miller, Peter Navarro, he’ll Organizations: CNN, United, Republican, Democratic, Trump, ”, Georgetown, Georgetown University's McCourt School, Public, Georgetown University, Heritage Foundation, Management, Budget, of Justice, FBI, Environmental Protection Agency, Vought, National Treasury Employees Union, OMB, White, Personnel Management, Land Management, Department of Agriculture, Kansas City, Partnership for Public Service, Government, Office, GAO, Economic Research Service, National Institute of Food, Agriculture, USDA, National Institute for Food, NIFA, Applied Economics Association, BLM, Getty, Department of Justice, Justice Department, Univision, Justice, Department, U.S . Justice, Center, Washington Post, National Security and Intelligence, of Homeland Security, of Education and Commerce, Federal Communications Commission, Federal Trade Commission Locations: United States, Washington, Georgetown, , Colorado, DC, Kansas, Colorado, Virginia, America, Grand Junction, Washington ,, New York City, New York, Georgia

☆ Discord banned accounts related to a site that sold messages from more than 620 million users
▼ + stars: | 2024-04-27 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

Discord banned accounts tied to Spy.Pet, a website known for mining and selling millions of users' messages. Spy.Pet used bots to scrape data from 14,000 servers, affecting nearly 620 million Discord users. Related storiesThe site used bots to scrape users messages and other data from 14,000 Discord servers. AdvertisementIn all, the bots collected data from nearly 620 million Discord users, according to Kotaku. Following the report, Discord announced that it has banned several accounts related to the site after an investigation.

Persons: —, Jason Citron, Citron Organizations: Service, Media, PC Gamer Locations: Spy.Pet

☆ India’s farmers are up in arms again. Will it hurt Modi’s reelection campaign?
▼ + stars: | 2024-04-26 | by ( Vinay Dwivedi | ) www.cnbc.com time to read: +5 min

Narinder Nanu | AFP | Getty ImagesNEW DELHI — Farmers in India's Punjab state are raising the pitch of their ongoing protests, as the second phase of India's general elections starts Friday. Thousands of farmers continue to drum up support for their demands, foremost being a legal guarantee for minimum support prices for their produce. A Lokniti-CSDS survey earlier this month showed 59% of the respondents found the farmers' demands "genuine," while 16% deemed the protests a "conspiracy" against the government. CNBC did not immediately receive a response from India's Agriculture Ministry on queries pertaining to the farmers' demands. What India's farmers want

Persons: Narinder Nanu, Narendra Modi, Modi, Yogendra Yadav, Sanjay Kumar, Modi's, Kumar, it's, Jagjit Singh, Ayyakannu, Dallewal Organizations: AFP, Getty, DELHI — Farmers, Bharatiya Janata Party, BJP, Modi's BJP, CNBC, India's Agriculture, Tamil Nadu, Morcha Locations: Amritsar, DELHI, India's Punjab, Punjab, Khanauri, Haryana, India, New Delhi, Delhi, Tamil, Varanasi, Tamil Nadu, Varansai, Uttar Pradesh, Samyukta

☆ The 'peak boomer' crisis might only get worse: A fifth of Americans 50 and up have no retirement savings, and the majority are worried they won't have enough money
▼ + stars: | 2024-04-26 | by ( Juliana Kaplan | Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

Americans say they don't have enough money for retirement, with a solid chunk having no savings at all. At the same time, the economy is about to see the "peak boomer" generation retire and deplete their savings. Tourangeau is part of a generation of older Americans who don't feel confident in their financial situation. Any of those who leave the workforce to retire may need to rely on any retirement savings they have built. AdvertisementAre you a peak boomer or older American worried you won't have enough money for retirement?

Persons: —, Pam Tourangeau, let's, it's, Indira Venkateswaran, Venkateswaran, Nancy LeaMond, LeaMond Organizations: Service, Congressional Research Service, AARP, Research, Savings, Americans, Federal Reserve, University of Michigan Health, Alliance, Lifetime, Security, Social Security Locations: America

☆ A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'
▼ + stars: | 2024-04-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

She's part of the "peak boomer" cohort, most of whom will rely on Social Security in retirement. I was somebody who did really well, and it's very disheartening because I have no idea what's going to happen with retirement," Senffner told BI. "My husband and I are both a year and a half from retirement age, but I think I'll probably need to work until I die because there's no money." Just Social Security isn't going to cover that." And with the Social Security fund set to dry out by the late 2030s — unless lawmakers intervene — Senffner is "incredibly scared" about her future.

Persons: Diane Senffner, She's, —, doesn't, Senffner, she'll, Diane Senffner Senffner, hasn't, it's Organizations: Social Security, Service, Business, Alliance, Lifetime, Income, Security, Survey, Walmart, AARP

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