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☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

☆ AI boom in Silicon Valley is going to worsen the housing problem, says CEO of billionaire-backed company trying to build a new city near San Francisco
▼ + stars: | 2024-05-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Jan Sramek, CEO of California Forever, wants to build a new city in Solano County, California. The recent "AI boom" will only make the housing crisis worse, Sramek told Kara Swisher. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Previously published information from California Forever revealed that the city will be about 18,600 acres with a capacity to welcome 400,000 residents. A California Forever spokesperson didn't address the question in an emailed response to Business Insider.

Persons: Jan Sramek, Sramek, Kara Swisher, —, Goldman Sachs, didn't, The Lever Organizations: Service, Silicon, California Forever, Business, International Monetary Fund, IMF, Research Locations: California, Solano County , California, Northern California, Solano County, San Francisco, Golden State, Bay, Palo Alto

☆ Taiwan says Chinese planes crossed median line, China carries out landing drills
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

Taiwan's defense ministry said on Friday it had detected a renewed incursion by Chinese military aircraft across the sensitive Taiwan Strait, as China reported its navy had carried out combat drills with landing craft. Taiwan's defense ministry said on Friday it had detected a renewed incursion by Chinese military aircraft across the sensitive Taiwan Strait, as China reported its navy had carried out combat drills with landing craft. The median line is used to serve as an unofficial border between the two sides, but Chinese military aircraft now regularly cross it. Taiwan said on Thursday that China had carried out a "joint combat readiness patrol" near the island for the second time in a week. China's defense ministry did not answer calls seeking comment on Friday, the country being in the middle of its Labor Day holiday.

Organizations: Labor, Eastern Theatre Command, Liberation Army Locations: Taiwan, China, Beijing, Taipei, Keelung

☆ Snapchat avoided 'AI' and leaned into real experiences in its annual pitch to brands
▼ + stars: | 2024-05-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

During the Snap-owned app's pitch to brands at its NewFronts presentation on Wednesday in New York, the company emphasized the value of real-world experiences, or IRL, over social-media scrolling. Sharing became contrived, and social media as a whole began feeling like an inauthentic version of our lives rather than a source of genuine connection." It's plastered ads on competitive social media platforms and billboards with its "Less Social Media. Related storiesSnapchat executives mentioned AI just once during the NewFronts presentation, saying the company had used AI models to build augmented-reality lenses. Snap is not the only social platform addressing lonelinessSnapchat's war against social media taps into a broader trend.

Persons: —, Colleen DeCourcy, Cipriani, DeCourcy, TikTok, Dan Whateley, NewFront, Meta's, Mervana Parekh, Snapchat, Patrick Harris, Piper Sandler Organizations: Service, Facebook, Meta, Business, NFL, NBA, NBC, Entertainment, Media, Snap's, Acrew, Big Tech Locations: New York, Manhattan, Americas

☆ PowerPoint Parties: Gen Z Trend Shows How Work Invades Social Lives
▼ + stars: | 2024-05-02 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

Case in point: the PowerPoint party, where people get together to show each other presentations on various topics in the name of having fun. It's a chance to be creative and turn something you do at work into something silly and social. The rise of the PowerPoint party also speaks to the workification of our day-to-day lives. Perhaps it's no surprise that young adults who had their childhood activities scheduled down to the minute are embracing the PowerPoint party. If you absolutely insist on having a PowerPoint party, God bless.

Persons: —, it's, we've, hotness, It's, Anna North, Emily Stewart Organizations: Harvard, it's Harvard, Cosmopolitan, Microsoft, Google, Monopoly, Business Locations: Canada

☆ Four healthy lifestyle choices could add years to your life, regardless of your genes, scientists say
▼ + stars: | 2024-05-02 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +5 min

A study found linked between healthy lifestyle habits and living longer. AdvertisementHealthy lifestyle choices could help us live up to five years longer, regardless of our genetic makeup, a study suggests. At the same time, a healthy lifestyle appeared to offset the effects of genes linked to a shorter lifespan by 62%. Making favorable lifestyle choices despite having genes linked to a shorter lifespan was linked to living 5.22 years longer than those who made unfavorable choices. However, she said that the effects of lifestyle factors in the study were notable because they suggest that while we can't change our genes, healthy habits may lessen their impact.

Persons: —, Liz Williams, wasn't, Williams, It's Organizations: Service, University of Sheffield, Centers for Disease Control

☆ Gen Z Status Symbol: Why Everyone Is Getting Botox Injections
▼ + stars: | 2024-05-02 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +9 min

The faces that hold social currency on social media — with fox-lift brows and buccal fat removed — are increasingly bleeding into real life. AdvertisementEven before the remote-work boom, writers noticed social media was shaping the way people looked. The shift from surgical procedures to minimally invasive injections has also made cosmetic work safer and more available to average people. "The gap between the identity we present on social media and the self we see in the mirror is growing," Widdows told me. As more people get cosmetic work done, the rest of us lose touch with what's normal.

Persons: it's, Z, It's, Heather Widdows, else's, Snapchat, Anne, Mette Hermans, Widdows, Gen Zers, Hermans, you've, we've Organizations: American Academy of, New Yorker, University of Warwick, American Psychological Association, Boston University School of Medicine, City University of London, Tilburg University Locations: Instagram, United States, Netherlands

☆ Richard Branson says money isn't a good way to measure success: Focus on this 1 word instead, it's 'all that really matters'
▼ + stars: | 2024-05-01 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Richard Branson doesn't want to be defined by his money. Specifically, he finds it "quite insulting" when he is introduced as "the billionaire Richard Branson," rather than as the co-founder of Virgin Group, he tells CNBC Make It. "Maybe in America, 'billionaire' is a sign of success, but that rankles me," says Branson. "Your reputation is [whether] your team of people who work with you are proud of what they've created," Branson says. Financial success has often followed, but Branson is adamant that money has never been his chief motivating force.

Persons: Richard Branson doesn't, Richard Branson, Forbes —, they've, Branson, — Organizations: Virgin Group, CNBC, Branson, Virgin Atlantic, Virgin Mobile Locations: America, Branson, Vietnam

☆ Privacy breach at Australian airline Qantas gives access to other customers' details
▼ + stars: | 2024-05-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Qantas on Wednesday apologized after some customers using the Australian airline's app were shown the name, flight details and loyalty status of other passengers. Customers were not able to transfer or use other people's airline points, and there were no reports of customers boarding flights using incorrect details, Qantas said. During the incident, Qantas advised customers to log out and then back in to their frequent flyer app account. "We sincerely apologise to all customers impacted and continue to monitor the Qantas app closely," the airline said in a statement. The Qantas incident comes after other airlines experienced data breaches involving malicious actors in recent years.

Organizations: Qantas, Sydney International Airport, Spain's, Europa, Reuters, British Airways Locations: Sydney, Australia

☆ China's new aircraft carrier is being tested at sea for the first time, but US carriers 'remain in an echelon of their own,' expert says
▼ + stars: | 2024-05-01 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewChina launched the first sea trial of its newest aircraft carrier on Wednesday, per the state-run news agency Xinhua. However, according to John Bradford, a Council on Foreign Relations International Affairs fellow, the Fujian falls far short of US aircraft carrier standards. Related stories"There is nothing yet that compares to the USS carriers," he told Business Insider. AdvertisementUnlike China's two other carriers, the Liaoning and Shandong , the Fujian features a catapult system designed to launch aircraft, according to reports, much like US aircraft carriers. Business Insider previously reported that China's two other aircraft carriers — the Liaoning and Shandong — had outdated Soviet-era designs and smaller air wings, making them notably inferior to US carriers.

Persons: —, John Bradford, Bradford, Richard Kouyoumdjian Inglis, Gerald Ford, Shandong — Organizations: Service, Xinhua, Business, People's Liberation Army Navy, Foreign Relations International Affairs, US, CNN, Chilean Naval Reserve, Congressional Research Service, Center for Strategic, International Studies, CSIS, Gerald Ford Class, Defense, Naval Locations: China, Fujian, Shanghai's, Shanghai, Liaoning, Shandong

☆ Airline app glitch randomly logged customers into other people's accounts
▼ + stars: | 2024-05-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +1 min

The Qantas app suffered a technical glitch, logging users into random accounts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn Australian airline's frequent flyers were left puzzled after a technical glitch with its app logged users into the wrong accounts. In a statement, the airline said some people were able to see other customers' details on the app. That included their name, upcoming flight details, points balance, and frequent-flyer status.

Persons: couldn't, — Organizations: Qantas, Service, Business

☆ Meta's AI search is weird and uncanny — and I'm not sure who it's for
▼ + stars: | 2024-04-30 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

AdvertisementFacebook, WhatsApp, and Instagram have integrated Meta AI into the search fields of their mobile apps. The search bar in the Facebook and Instagram apps is one place you probably know very well. You come to the Facebook search bar to type in the name of your local Buy Nothing group, but instead, you see an animated blue circle with "Ask Meta AI anything." The search bar on the Facebook app now has AI prompts. Instagram search suggestions are slightly more Instagram-y.

Persons: Instagram, —, Meta, Pew, ike, .. F, els Organizations: Service, Facebook, Fast Company, rit, up id, Meta Locations: uri

☆ Strained Chinese cities struggle to pay home buying subsidies
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

Chinese cities have promised subsidies and other incentives to prop up the ailing property sector but have failed to deliver, frustrating potential homebuyers. The 30-year-old now pays 6,000 yuan of her 8,000 monthly salary on the mortgage for the 1.1 million yuan apartment and another 1,800 yuan to rent another one, relying on her parents for other basic expenses. Weifang, with a population of more than 9 million and an economy larger than Croatia's, and dozens of other Chinese cities, have promised subsidies and other incentives to homebuyers to prop up the ailing property sector. But the real estate downturn also affects the ability of cities to lease land to developers, a key revenue source. This meant some local governments were unable to raise funds to pay the promised subsidies, frustrating buyers and casting doubts over future support measures.

Persons: Amy Wang, Wang, Christopher Beddor, Gavekal Organizations: People's, Communist Party Locations: Hangzhou city, Zhejiang province, China, Weifang, Shangqiu

☆ A viral conspiracy theory on TikTok says nice people don’t get promoted. But experts disagree
▼ + stars: | 2024-04-30 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +5 min

One viral TikTok has young workers up in arms about the perils of being pleasant in the workplace. A TikToker who goes by the name Jacqueline recently posted a TikTok video where she claimed that people who are "a pleasure to work with" will "never get promoted." She added: "You will never be promoted out of a hardworking more junior position where a lot of the hard work exists ... There's a lot of benefits to being other-oriented like we like nice people and we do nice things for those people," he added. 'Pleasant people don't bend over backwards'In Jacqueline's TikTok video, she conflates having a pleasant personality with being a pushover, according to Vogel.

Persons: Jacqueline, Cameron Anderson, Andrew Brodsky, Brodsky, Ryan Vogel, Vogel Organizations: Haas School of Business, University of California, University of Texas, McCombs School of Business, CNBC, Chinese University of Hong, University of Iowa, Purdue University, Fox School of Business, Management, Temple University Locations: Berkeley, Chinese University of Hong Kong, agreeableness

☆ My mom was a single mom, but I had 3 parents. My grandparents helped raise me.
▼ + stars: | 2024-04-30 | by ( Katherine Serna | ) www.businessinsider.com time to read: +4 min

I lived with my mom and my grandparents in a three bedroom house. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I had 3 parentsMy mom was a single mother, but I had three parents: her and my grandparents. Related storiesParenting dynamics were always a gentle dance to navigate, but they all took great care of me. My mom gave up a lot to have meMainly, I thought about what my mom wanted.

Persons: —, She'd, she'd, grandpa, she's Organizations: Service Locations: Houston, New York, Laredo

☆ 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

☆ China is gunning for the chief scientist of its COVID vaccine project, accusing him of 'serious discipline and law violations'
▼ + stars: | 2024-04-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

The chief scientist of China's COVID vaccine project was kicked from the National People's Congress. Yang Xiaoming, 62, is accused of "serious discipline and law violations," a phrase alluding to corruption. Yang led the team that developed the Sinopharm vaccine, and was China's top researcher in its vaccine project. AdvertisementThe chief researcher of China's first general-use COVID vaccine was ousted last week from the country's highest organ of power. Yang Xiaoming, 62, was booted on April 23 from the National People's Congress "due to serious discipline and law violations," state media reported this weekend.

Persons: Yang Xiaoming, Yang, —, China's Organizations: National People's, Service, Business Locations: China

☆ Trouble brews at The Wall Street Journal, where EIC Emma Tucker faces falling morale and the union edges toward a strike
▼ + stars: | 2024-04-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

Read previewEmma Tucker's arrival at The Wall Street Journal a little over a year ago was met with enthusiasm. This story is available exclusively to Business Insider subscribers. Business Insider talked to a dozen insiders for this story; many of them said they had felt a shift from optimism to angst regarding Tucker and the newsroom generally. A Journal spokesperson said Tucker wasn't available to comment but offered an interview with Taneth Evans, Tucker's associate editor. Evans told Business Insider that the changes were drawn out to give the new leadership time to understand how the newsroom works.

Persons: —, Emma Tucker's, Tucker, She's, effused, Liz Harris, Dow Jones, IAPE, Tucker wasn't, Taneth Evans, Tucker's, Evans, I've, Harris, Emma Tucker, Joy Malone, Rupert Murdoch, Matt Murray, Murray, Elon, Taylor, I'm, OpenAI's Sam Altman, Michael Bloomberg's, Lachlan Murdoch, Adrian Edwards, Axel Springer Organizations: Service, Wall, Business, Dow, Independent Association of Publishers ' Employees, CWA, Associates, Sunday Times, The New York Times, Times, Boeing, News Corp Locations: New York, London, Tesla, Gaza, New York City

☆ 6 psychological mistakes business leaders make, including 'crossing the net'
▼ + stars: | 2024-04-29 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +6 min

Dr. Matthew JonesMost of Jones' clients work in tech and often deal with fast-paced work environments and uncertainty. AdvertisementJones shared six of the biggest communication mistakes he's seen business leaders and cofounders make — from how they address conflict to ignoring it until it's too late. They only understand business languageJones said there are three types of languages that all business teams speak: operational, psychological, and archetypal. They don't check in enoughJones said that when business leaders don't normalize listening and giving feedback, it can create rifts between them over time. AdvertisementUnfortunately, that represents the smallest percentage of his business clients; the vast majority "are currently experiencing varying degrees of conflict," he said.

Persons: —, Matthew Jones, Dr, Jones, cofounders, it's Organizations: Service, Business, Stanford

☆ Richard Branson says this decision helped build his $2.5B net worth: 'I don't think I would have gone to space' otherwise
▼ + stars: | 2024-04-29 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

He's referring to selling record label Virgin Records to Thorn EMI for nearly $1 billion in 1992. Branson needed the money to focus on a newer venture, Virgin Atlantic. CNBC Make It: How did you make the decision to sell Virgin Records? What I decided was: If I sold Virgin Records, all the people's jobs would be secure. I could then use that money to build and protect Virgin Atlantic.

Persons: Richard Branson, He's, —, Branson, Richard, Virgin, We'd, Janet Jackson Organizations: CNBC, Virgin Records, Thorn EMI, Virgin Atlantic, British Airways, Virgin Group, Forbes, Virgin Locations: London, Branson

☆ Gold retreats as dampened Fed rate cut hopes dent appeal
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday as hopes for early interest rate cuts this year dampened, while focus shifted to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for further clarity on monetary policy. "Short term, gold is facing some challenges given the likely delayed timeline for rate cuts. The Federal Reserve's policy meeting from April 30-May 1 and the non-farm payrolls data due on Friday are key for markets this week. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at this meeting.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: Federal Reserve, KCM Trade, Investors, People's Bank of, Citi Locations: Mendrisio, Switzerland, People's Bank of China

☆ Mental-health professionals explore AI-powered digital therapeutics to treat patients and improve care
▼ + stars: | 2024-04-29 | by ( Christine Macintyre | ) www.businessinsider.com time to read: +8 min

The fusion of human ingenuity and machine intelligence is offering an innovative approach to personalized mental-health care. They can also use AI to assess the quality of their services and find ways to improve as providers of mental-health care. As technology becomes more involved in mental-health care, ensuring data security, confidentiality, and equitable access to services must be top priorities. How an AI platform is helping mental-health-care providers improve their servicesThe AI platform Lyssn is another tech-driven tool for mental-health services. Lyssn aims to hold providers accountable for improved care, especially because "the quality of mental-health care is highly variable," Imel said.

Persons: —, Christopher Romig, Stella, Shaheen Lakhan, Daniel Rimm, Haig Goenjian, Zac Imel, Michael Tanana, Imel, Darin Carver, Carver, It's Organizations: Service, Therapeutics, Click Therapeutics, Food and Drug Administration, Weber Human Services Locations: Tanana

☆ 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

☆ Billionaire investor David Einhorn shares an overlooked theory for why gold prices have spiked so much
▼ + stars: | 2024-04-28 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The recent gold rally is counterintuitive, as high interest rates typically make bullion less attractive. But billionaire investor David Einhorn has a theory that he shared in his latest investor letter. Einhorn suggests that gold's rally is potentially due to countries in the East buying gold from Western nations. To explain the strong run for gold, billionaire investor David Einhorn offered a potential theory in his latest letter to investors published this week. Others, like billionaire investor Ray Dalio, say gold can hedge risks stemming from high government debt levels.

Persons: David Einhorn, Einhorn, —, there's, David Rosenberg, Ed Yardeni, Ray Dalio Organizations: Service, Federal, Greenlight, World Gold, People's Bank of Locations: China, People's Bank of China, India, Singapore

☆ China's submarine force is stressed by their more realistic training for combat
▼ + stars: | 2024-04-28 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

Chinese submarine crews are training to operate farther into the Western Pacific. AdvertisementChina is forcing its submarine crews to endure more intensive and realistic training exercises. Ironically, while rigorous training is intended to create a more skilled and aggressive submarine force, these changes could backfire. "What the literature does suggest is that the PLAN submarine force is simultaneously incorporating a wide range of new operational guidance, platforms, and technologies that are pushing the crews and equipment of the PLAN submarine force in ways they have not been stressed before." "But it still must improve further to be capable of supporting what is expected of the submarine force."

Persons: —, Christopher Sharman, Terry Hess, evaluators, VCG, Crews, submariners, Sharman, Michael Peck Organizations: Pacific, Service, Training, China Maritime Studies, US Naval War, People's Liberation Army Navy, PLA, PLAN, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: China, Pacific, Western, Soviet, Russia, Ukraine, Forbes

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