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☆ Buy this boring part of the stock market for overlooked exposure to the AI boom
▼ + stars: | 2024-05-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Boring utility stocks are being highlighted as the next great beneficiaries of the AI boom. Goldman Sachs highlights 4 buy-rated utility stocks that are set to benefit from the AI boom. AdvertisementThe most boring area of the stock market is being awakened by the AI boom, and investors should take notice now, according to Goldman Sachs. These are the four utility stocks Goldman Sachs rates as Buy, partly due to their exposure to AI-fueled electricity demand. NextEra Energy (NEE): "Renewable segment uniquely positioned for AI data load and interconnection queue available."

Persons: Goldman Sachs, — Organizations: Service, Goldman, Xcel, Co, Nvidia, AMD, Computers Locations: MISO, Texas

☆ Peter Thiel was trapped inside a student debating hall by pro-Palestine protesters accusing him of genocide
▼ + stars: | 2024-05-09 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Peter Thiel faced backlash from pro-Palestine protesters during an event in Cambridge, UK. Protesters interrupted his speech at the Cambridge Union and accused him of genocide. AdvertisementTech billionaire Peter Thiel was trapped inside a student debating hall on Wednesday by pro-Palestine protesters who accused him of genocide. Thiel, 56, is a cofounder of data-mining company Palantir, which supplies the Israel Defense Forces with technology for "war-related missions." Thiel was giving a speech at the Cambridge Union Society in the UK (which is independent of the University of Cambridge) when pro-Palestinian protesters interrupted his monologue.

Persons: Peter Thiel, Thiel, — Organizations: Palestine, Israel Defense Forces, Protesters, Cambridge Union, Service, Tech, Cambridge Union Society, University of Cambridge, Business Locations: Cambridge

☆ Ukraine lawmakers just passed a bill that'll allow the country to mimic Russia's tactic of drafting convicts to fight in the war
▼ + stars: | 2024-05-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

The bill, if enacted, imitates the Russian approach of using prisoners to fuel its war efforts. AdvertisementLawmakers in Ukraine passed a bill on Wednesday that would allow the country's military to recruit prisoners to fight on the battlefield. The bill, which has yet to be signed into law by Ukrainian President Volodymyr Zelenskyy, will allow Ukraine to mimic the Russian tactic of drafting convicts for their war effort. Related storiesBut while Russia hasn't imposed many restrictions on which prisoners they conscript, the Ukrainian bill is a lot more particular on who gets selected. The passing of the bill comes at a precarious time for Ukraine, which has to reckon with what US officials are calling a reinvigorated Russian army.

Persons: —, Volodymyr Zelenskyy, Vsevolod Vukolov, Russia hasn't, Shulyak, Christopher Cavoli, didn't Organizations: Service, Lawmakers, Russian, Kommersant, Washington Post, Pravda, US, Armed, BI Locations: Russia, Ukraine, Russian

☆ Golden visas attracted wealthy Americans to Southern Europe. Then their housing crisis followed.
▼ + stars: | 2024-05-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

This is in part the doing of so-called "golden visas," hugely popular residency visas for foreign investors. And they purchased more Portuguese golden visas than any other nationality in 2022. Related storiesBut as Portugal has experienced a worsening housing affordability crisis, Portuguese public opinion on golden visas has soured. Last year, the country changed the terms of its golden visa program to exclude real estate investment. Other southern European countries are following suit, similarly pointing to skyrocketing real estate prices.

Persons: —, They're, they're, João Pereira dos Santos, Pereira dos Santos, Nuno Fazenda, Holger Schmieding, Schmieding, David Zorrakino Organizations: Service, Business, The New York Times, School of Economics, Finance, Queen Mary University of London, State, Tourism, Trade, Services, Bloomberg, Berenberg Bank, Getty, European Central Bank, Paris Locations: Greece, Portugal, Tourism, Lisbon, Athens, Spain, Southern Europe, Portuguese, London, Ramblas, Barcelona, Catalonia, Europe, Germany, Netherlands, France

☆ 'Why would you eat a $10 burger out of a paper bag in your car?' Applebee's throws shade at fast food chains as it touts deals
▼ + stars: | 2024-05-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

The CEO of Applebee's owner, Dine Brands, told CNBC that the chain offers a better value proposition than its fast-food rivals. Applebee's diners are buying cheaper items and visiting less often. But even if it is winning over some fast-food customers, Applebee's sales are still falling. Applebee's diners are cutting back, tooBut casual dining chains have been raising their prices, too, because of wage and food inflation. Have you switched from fast food to casual dining chains like Applebee's, Chili's, and Olive Garden?

Persons: they're, —, John Peyton, Bacon Burger, Applebee's, Burger, Peyton, It's, That's Organizations: Dine Brands, CNBC, Service, Dine Locations: Applebee's, Olive

☆ The world's largest fans designed to suck carbon from the air are up and running in Iceland
▼ + stars: | 2024-05-09 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Climeworks' direct-air-capture plant can remove up to 36,000 metric tons of carbon from the air a year. AdvertisementThe startup Climeworks this week switched on the largest direct-air-capture plant, which pulls carbon dioxide from the sky and locks it away underground. Climateworks' Mammoth plant also cost hundreds of millions of dollars to build, though the company didn't disclose the exact amount. AdvertisementClimeworks aims to become large enough to remove 1 million metric tons of carbon a year by 2030 and 1 billion metric tons by 2050 — or a megaton and gigaton. The two plants could remove more than 2 million metric tons of carbon dioxide from the air each year.

Persons: Climeworks, —, it's, JPMorgan Chase, Jan Wurzbacher, Wurzbacher Organizations: Service, UN, Carbon Project, Microsoft, Swiss, JPMorgan, US Department of Energy, Occidental Petroleum Locations: Mammoth, Iceland, Paris, Canada, Norway, Oman, Kenya, Louisiana, West Texas

☆ 4 flight attendants smuggled millions in drug money out of the US using the crewmember lane at JFK, prosecutors say
▼ + stars: | 2024-05-09 | by ( Joshua Zitser | ) 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. Using this status, they could access a special security lane at John F. Kennedy International Airport without undergoing typical passenger screening procedures. Advertisement"Flight attendants are ideal for smuggling bulk cash" for this reason, a Homeland Security Investigations special agent wrote in the indictments. Related storiesThe pair believed the money was the proceeds of narcotics trafficking and needed to be transported, according to the indictment. AdvertisementHe said the investigation "exposed critical vulnerabilities in the airline security industry" and has "illuminated methods that narcotics traffickers are utilizing."

Persons: —, — Charlie Hernandez, Sarah Valerio Pujols, Emmanuel Torres, Jarol Fabio, John F, Damian Williams, Hernandez, Pujols, Torres, Fabio, HSI, Ivan J, Arvelo Organizations: Service, Business, US, Office, of, Transportation Security Administration, Kennedy, Homeland Security Investigations, Pujols, Customs, Border, JFK, Delta Airlines, NBC News, Delta Locations: New York, Dominican Republic, Southern, of New York

☆ A woman couldn't understand why she wasn't losing weight after trying diets, exercise, and medication. A test revealed she was missing crucial gut microbes.
▼ + stars: | 2024-05-09 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

Kimmie Gilbert couldn't seem to lose weight despite trying diets, exercise, and medication. Research suggests that gut microbiome composition might play a role in a person's weight. AdvertisementKimmie Gilbert has one pressing question: "What in the world are y'all eating that I'm not eating that causes y'all to lose weight and not me?" In 2019, health tech had a global market value of approximately $350 billion, according to McKinsey. A microbe called Prevotella, which is associated with weight loss, wasn't found at all in her gut.

Persons: Kimmie Gilbert couldn't, Gilbert, —, Kimmie Gilbert, y'all, Eran Segal, Annie Gupta, Goodman, Rob Knight, Jack Gilbert, wasn't, Gupta, Prevotella, Segal Organizations: Service, Netflix, McKinsey, BMI, Weizmann Institute of Science, UCLA, Luskin, UC San Diego Locations: New Orleans

☆ CEO Dara Khosrowshahi says remote work took away some of Uber's best customers, but commuters are starting to come back
▼ + stars: | 2024-05-09 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Uber lost some of its "most frequent customers" thanks to the rise of remote working, its CEO said. Dara Khosrowshahi made the observation during the company's Q1 earnings call. That trend is reversing somewhat though, and "people are getting back to work," Khosrowshahi said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUber CEO Dara Khosrowshahi wants to see more workers going back to the office, and not just at his own company.

Persons: Uber, Dara Khosrowshahi, Khosrowshahi, — Organizations: Service, Workers, Business

☆ Tesla cuts all but 3 of its 3,400 listed jobs in North America
▼ + stars: | 2024-05-09 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Tesla cut over 3,400 North American job postings down to just three. Tesla's official careers page and LinkedIn showed different results. AdvertisementIf Tesla is your dream company, you'll have to compete for one of just three listed US jobs. On Wednesday, the electric vehicle maker cut over 3,400 job postings in North America to just three. The now-axed roles, which were mostly in California, Texas, and Nevada, were listed on Tesla's official careers page as recently as Tuesday, according to a Quartz analysis of archived pages.

Persons: Tesla, Tesla's, — Organizations: Service, Business Locations: American, North America, California , Texas, Nevada

☆ Meet Mona Patel, the tech entrepreneur and philanthropist who stole the show at the Met Gala
▼ + stars: | 2024-05-09 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Read previewOn Monday night, the biggest fashion event of the year took place in New York City: the Met Gala . AdvertisementBut few made as many waves as Mona Patel, an entrepreneur who wore a custom Iris van Herpen gown to her first Met Gala. Mona Patel attends the 2024 Met Gala. Mona Patel turned heads at the 2024 Met GalaThanks to the dramatic ensemble she wore to make her Met Gala debut, Patel was among the most talked-about attendees of the event. Mona Patel at the 2024 Met Gala.

Persons: —, Mona Patel, Iris van Herpen, Patel, Sean Zanni, Vogue, Anna Wintour, Emma, John Shearer, Casey Curran, Mike Coppola, Chris Martin, Edgar Martin, Sidney Jamila, Roach — Zendaya's, Roach Organizations: Service, Metropolitan Museum, Art's Costume, Business, Rutgers University, Haute Mona, Forbes, LinkedIn, Harvard Business School, Stanford Graduate School of Business, MIT Sloan School of Management, CareFirst, Couture, Vogue India Locations: New York City, India, Florida, Mumbai

☆ A whistleblower at Boeing's supplier said he 'almost grew a fear of flying' from working 12 years there
▼ + stars: | 2024-05-09 | by ( Matthew Loh | ) 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 previewA former employee of Boeing supplier Spirit AeroSystems said he nearly developed a fear of flying because of what he saw during his 12-year stint inspecting aircraft fuselages there. "Working at Spirit, I almost grew a fear of flying," said Paredes. Paredes told CBS that he once sent an email pushing back against his managers' requests to speed up inspections and then was removed from his leadership position. Spirit AeroSystems did not immediately respond to a request for comment outside regular business hours by Business Insider.

Persons: —, Spirit AeroSystems, Santiago Paredes, Paredes, Kris Van Cleave, Spirit, John Dean, Max, AeroSystems Organizations: Service, Boeing, Spirit, CBS News, Business, CBS, Alaska Airlines, Federal Aviation Administration, National Transportation Safety, BBC, BI Locations: Wichita, Spirit's Wichita

☆ 3 US cities drawing more millionaires with lower taxes, cheaper homes, and shorter commutes
▼ + stars: | 2024-05-09 | by ( Dan Latu | ) www.businessinsider.com time to read: +2 min

Consulting firm Henley & Partners identified 3 US cities with huge potential for wealth growth. AdvertisementNew York, Los Angeles, and Chicago may no longer hold the same sway for millionaires and billionaires anymore, according to consulting firm Henley & Partners. The numbers of wealthy residents in these cities might be smaller than in the major hubs, but their rate of growth is much higher. New York, for example, has 349,500 millionaires, according to Henley & Partners, while Scottsdale only has 14,500. AdvertisementHere's a look at the three American locations Henley & Partners projected will boom with wealthy residents in the coming years.

Persons: Henley, —, Mehdi Kadiri Organizations: Henley & Partners, Greenwich, Service, — Henley, Partners, New Locations: Scottsdale, Palm Beach, New York, California, York, Los Angeles, Chicago, Austin, Miami, Los Angeles , New York, London, Scottsdale , Arizona, Phoenix, Beach , Florida, Connecticut, Greenwich, Darien

☆ Affordable homes haven't been this hard to find in years despite lower mortgage rates — but prices are declining in these 15 cities
▼ + stars: | 2024-05-09 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Price growth was partially offset by lower mortgage costs, as 30-year fixed rates hung between 6.6% and 6.94% in the first quarter. That's a small win for buyers, considering that rates peaked at 7.8% late last year and were above 7% until mid-December. At the first sight of lower mortgage rates, that widespread price appreciation has returned — much to the chagrin of buyers who thought they were going to catch a break. Conversely, prices fell outright only in 15 cities, versus 32 in the fourth quarter of 2023. 15 cities where home prices are downBelow are those 15 US real-estate markets where single-family home prices fell from last year.

Persons: —, Lawrence Yun Organizations: Service, National Association of Realtors, Business, NAR Locations: That's

☆ I've worked at Costco for 18 years. Here are 10 of the best things I'm seeing on the shelves this month.
▼ + stars: | 2024-05-09 | by ( Veronica Thatcher | ) www.businessinsider.com time to read: +1 min

As someone who's worked at Costco for 18 years, I know which items are worth grabbing at the store. 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 . As someone who's worked at Costco for over 18 years, I'm always on the lookout for the best-value items at the wholesale retailer. Here are 10 things I recommend checking out at Costco in May.

Persons: who's, —, I'm Organizations: Costco, Service

☆ Inside Balyasny's summer internship, where how you accept feedback can make or break your chance of a full-time offer
▼ + stars: | 2024-05-09 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +8 min

That goes for summer interns, too, and may be especially important for them considering the bar to entry is high at Balyasny. The firm said it usually converts about 50% of its top-performing summer interns into full-time hires. AdvertisementThe hedge fund also has a formal feedback process where interns get a progress report about halfway through the summer, and again at the end. Anna Gietl, intern summer of 2022 BalyasnyDon't just hear feedback — implement itBalyasny's culture is about more than accepting feedback or seeking it out. Feedback can also be a catalyst to help build connections and solicit mentorship from people outside your team, Gietl added.

Persons: Hannah Dinardo, Dinardo, San Francisco —, execs, Dmitry Balyasny, Brendan McDermid, aren't, it's, Andrew McHugh, Anna Gietl, Gietl, —, I've, Balyasny, It's, McHugh Organizations: Service, Business, BAM, Balyasny Asset Management Locations: York, New York, Chicago, Austin, Houston, San, London , Hong Kong, Singapore

Many Americans don't know, and it's getting even harder to calculate — especially as Social Security is poised to start reducing benefits in just about a decade. Related stories"That number is all over the place," Copeland said, referring to how much people are going to need in retirement savings. "It will be devastating if people who already are facing very dire retirement prospects get less Social Security than they're planning on. Estimating how much you will need in retirement may be helpful, even long before retirement. That highlights the fact that calculating how much you're going to actually need in retirement is complicated.

Persons: it's, That's, there's, Craig Copeland, Copeland, —, William Arnone, Indira Venkateswaran, Greenwald Organizations: Service, Security, Greenwald Research, Business, AARP, Wealth, Research Institute, Social, Social Security, National Academy of Social Insurance Locations: America

☆ American Airlines is flying 70 World War II veterans to France for the 80th anniversary of the D-Day landings
▼ + stars: | 2024-05-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

American Airlines announced a charter flight to France for 70 World War II veterans. AdvertisementDozens of World War II veterans will enjoy a free flight to France to commemorate the 80th anniversary of the D-Day landings. American Airlines announced Wednesday that it will fly 70 veterans aboard a chartered Boeing 787-9 Dreamliner. It will fly 60 World War II veterans directly to Normandy for the third year in a row. AdvertisementOne of the veterans being flown by AA is Frank Perry — a former pilot with Piedmont Airlines, which later became part of American.

Persons: —, Frank Perry —, Felix Maurizio, We're, David Seymour Organizations: American Airlines, Forth, Service, Boeing, Fort Worth Airport, Delta Air Lines, AA, Piedmont Airlines, Army Air Corps, US Navy, Omaha Beach Locations: France, Dallas, Forth Worth, Paris, Normandy, Omaha

☆ 2 OpenAI researchers working on safety and governance have quit
▼ + stars: | 2024-05-09 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Read previewTwo OpenAI employees who worked on safety and governance recently resigned from the company behind ChatGPT. Daniel Kokotajlo left last month and William Saunders departed OpenAI in February. Kokotajlo, who worked on the governance team, is listed as an adversarial tester of GPT-4, which was launched in March last year. OpenAI also parted ways with researchers Leopold Aschenbrenner and Pavel Izmailov, according to another report by The Information last month. OpenAI, Kokotajlo, and Saunders did not respond to requests for comment from Business Insider.

Persons: —, Daniel Kokotajlo, William Saunders, Saunders, Kokotajlo, overton, Ilya Sutskever, Jan Leike, AGI, It's, Sam Altman, Diane Yoon, Chris Clark, Yoon, Clark, OpenAI, Leopold Aschenbrenner, Pavel Izmailov Organizations: Service, Business, Alignment Locations: OpenAI

☆ Cybertruck owner says he got stitches after the edge of the door clipped his leg
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

A Tesla owner posted on a Cybertruck forum warning others to be careful closing the door. The owner posted a photo of a cut on his leg that he said he got closing the door on an incline. Tesla warns Cybertruck owners to "use caution around the panel edges" of the angular design. AdvertisementA Tesla owner said he needed stitches after he wound up with a gash on his leg from exiting his Cybertruck on an incline. "Be careful when closing your cybertruck door!"

Persons: — Organizations: Service, Cybertruck Owners, Business

☆ Nobel Prize-winning economist Joseph Stiglitz shares the playbook he thinks Trump will use to stay in power if he wins a second term
▼ + stars: | 2024-05-09 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

If former President Donald Trump wins a second term in the November election, expect him to try to stay in power beyond his allotted four years, says Nobel Prize-winning economist Joseph Stiglitz. Right now, a second Trump term is a real possibility. AdvertisementInstead, Trump is more likely to declare a state of emergency, Stiglitz said, in an attempt to delay or cancel elections. The executive branch has no power to move the date of elections, according to the National Constitution Center. AdvertisementChanging an election date via Congress would need the approval of both the Senate and the House of Representatives, and the two chambers would have to come up with a new election date, per the National Constitution Center.

Persons: Donald Trump, Joseph Stiglitz, Putin, Orbán, Bolsonaro, Stiglitz, Trump, Joe Biden, Brad Raffensperger, Mike Pence, I'm, Pence, Ronald Reagan Organizations: Service, Business, Trump, RealClearPolitics, Georgia, Capitol, Republican Senate, Congress, National Constitution Center, Senate, Representatives, Constitution Center, Congressional Research Service, CRS, :, Good Society Locations: Ohio

☆ Airbnb's customers keep complaining about the costs compared to hotels. The company seems to be listening.
▼ + stars: | 2024-05-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Read previewWhen Airbnb started, CEO Brian Chesky said its tagline "was a cheap, affordable alternative to a hotel" — but customers aren't finding it so cheap anymore. Customers have complained on social media about the rising cost of Airbnb due to booking costs and cleaning fees. Advertisement"A year and a half ago, we noticed that, you know, there was a lot of concern about Airbnb prices increasing," Chesky said. According to the CEO, two million hosts now use the compare listing. Chesky also said Airbnb started offering monthly and weekly discounts for guests with longer stays.

Persons: —, Airbnb, Brian Chesky, you've, Chesky, it's Organizations: Service, Business

☆ My family's followed the Mediterranean diet for decades. Here are our 7 secrets to sticking to it.
▼ + stars: | 2024-05-09 | by ( Alexandra Frost | ) www.businessinsider.com time to read: +7 min

Read previewI remember when the Mediterranean diet first became one of the hottest fads in the nutrition community — all of a sudden, my Greek salads looked super appetizing to my college roommates. Now, it's been named the healthiest diet in the world for the seventh year in a row. The condiment is a Mediterranean-diet staple and an easy swap for just about any sauce. Hanasch/ShuttershockJust because you're following a Mediterranean diet doesn't mean you can't enjoy dessert. AdvertisementYou don't need to cut out dairy to enjoy the Mediterranean dietAlthough some may say the Mediterranean diet limits cheese and dairy, my family would beg to differ.

Persons: —, it's, you'd, Krzysztof Slusarczyk, creamer Organizations: Service, Business Locations: Greece, Mediterranean, tangier

☆ A top Citi tech exec breaks down the 4 phases of the bank's AI strategy that will impact everyone from operations to wealth and product
▼ + stars: | 2024-05-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Instead, he's betting that small, incremental, and sometimes "boring" moves will make the biggest impact on the bank's overall efficiency. AI is poised to change just about every employee's job at Citi and "sustainably change how we work for decades to come," Zafar said. The four-part plan will impact everyone from technology and operations to wealth and product design. Citi has undergone considerable change as CEO Jane Fraser looks to streamline the bank's operations and boost returns. The next group at Citi poised to use AI widely is operations, or employees who handle back-office administrative processes.

Persons: Shadman Zafar, Let's, Zafar, Jane Fraser, It's, it's Organizations: Service, Workers, Business, Citi Locations: Wall

☆ Home prices are falling in parts of Florida and Texas as buyers tap out and supply outpaces demand
▼ + stars: | 2024-05-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Home prices are falling in parts of Florida and Texas even as they soar nationally. Sale prices only dropped in 15 of 221 metro areas last quarter, and five were in those states. High prices, steeper mortgage rates, and supply catching up with demand help explain the declines. AdvertisementHome prices are falling in parts of Florida and Texas as buyers tap out and supply catches up with demand. AdvertisementThe takeaway is that a combination of sky-high prices, steeper mortgage rates and other costs like insurance squeezing buyers' budgets, and supply catching up with demand has resulted in prices flatlining or falling in parts of Florida and Texas, bucking the national trend.

Persons: —, Fort Myers, Redfin, Coral Organizations: Service, National Association of Realtors, Fort, Fort Walton, Austin, Rock, NAR, Panama City, Homeowners, Federal Locations: Florida, Texas, Panama City, Crestview, Fort, San Antonio, New Braunfels, Lac , Wisconsin, Illinois, Kankakee, Rockford, Champaign, Urbana, Austin, Panama

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