DIRS.INFO The most relevant business & tech news

☆ McKinsey says it needs to reinvent itself and that AI is the answer: 'It's going to be most of what we do in the future'
▼ + stars: | 2024-06-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Generative AI has become the leading conversation topic at the world's premiere consulting firms. "How do we actually inject gen AI and AI thinking into ways of doing business?" The launch of ChatGPT marked an inflection point for McKinsey's work on generative AI. He added that McKinsey has worked on roughly 400 generative AI projects in the last six months. McKinsey's work helps the young startup "build trust" among more organizations, Cohere's founder and CEO Aidan Gomez told Business Insider.

Persons: It's, Ben Ellencweig, Ellencweig, they're, it's, Aidan Gomez Organizations: Service, McKinsey & Company, McKinsey, Business Locations: India, Brazil, United States, Israel

☆ Starboard loses initial legal fight against Autodesk, but the battle may just be beginning
▼ + stars: | 2024-06-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. With 90%+ gross margins and 35% operating margins, Autodesk is a leader in AEC software. Further, its operating margins are not much worse than those of its peers at first blush. However, Starboard correctly does not judge the company's operating margins on the mean of its peer set, but by the potential embodied in its gross margins and market position. He no longer serves on the board of Autodesk, but he could certainly be an informal advisor to Starboard – or a cautionary tale for Autodesk.

Persons: Max, Russell, Deborah Clifford, Clifford, bode, Sachem, Andrew Anagnost, designees, Rick Hill, Hill, designee, Ken Squire Organizations: Autodesk, Engineering, Manufacturing, Media, Entertainment, Manufacturing Solutions, Wonder, Delaware Chancery, —, U.S . Securities, Exchange Commission, Delaware Court, Marvell Technology, Symantec, 13D Locations: Delaware, Autodesk's

☆ Fundstrat's Tom Lee keeps making bold stock calls — and nailing them
▼ + stars: | 2024-06-22 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

For example, a call that the S & P 500 would rise 100 points on a positive consumer price index print came true last year. That's true so far, with the S & P 500 jumping 4.8% in May after finishing April down 4.2%. As equities struggled, (the S & P 500 fell almost 20% in 2022), Lee felt like the risk of inflation was being mispriced. Because of that, he foresaw a rebound in 2023, a year that sent the S & P 500 more than 24% higher. "There was a pretty widely-held view that the Fed had to crash the economy in order to contain inflation," Lee said.

Persons: Fundstrat's Tom Lee, Lee, it's, that's, Lee doesn't, Russell, hiccups, Salomon Smith Barney Organizations: Fundstrat, CNBC Pro, Wharton School, selloff, Apple, Netflix, Nasdaq, JPMorgan

☆ Meet the last 20-something millennials: They're twice as wealthy as their geriatric peers were and are carving creative paths to homeownership
▼ + stars: | 2024-06-22 | by ( Hillary Hoffower | ) www.businessinsider.com time to read: +9 min

In some ways, they're actually faring better than their older millennial peers, and their struggles point to larger cracks in America's social support systems. Younger millennials are getting creative about becoming homeowners, explained Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors. Because younger millennial women are focused on their careers, they're continuing the overall millennial trend of delaying family formation. AdvertisementAnd some of younger millennials' accumulated wealth has faded thanks to inflation, Ricketts said. He pointed out that younger millennials who invest their wealth well are more likely to consume and drive economic growth.

Persons: I've, —, Diana Elliott, somethings, Gabby Davis, Davis, Gen Z, Cuspers, they've, Elliott, they'll, millennials, Rollin, Zers, Louis Fed, didn't, Louis, Lowell Ricketts, Ricketts, aren't millennials, who've, Younger millennials, Jessica Lautz, They're, Lautz, they're Organizations: Service, Pew, Population Reference, Louis Fed, Fed, National Association of Realtors, NAR, Young Locations: U.S

☆ Supply chain hotspot Vietnam rolled out the red carpet for Putin, and the US is trying to act cool
▼ + stars: | 2024-06-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewWanted by the International Criminal Court, Russian President Vladimir Putin still traveled to Vietnam on a two-day visit, where he was warmly welcomed. Russia and Vietnam also have a long history going back to the Soviet era, so his visit is also not surprising. Related storiesWestern allies may rethink "Vietnam's reliability as a strategic partner in the region," Hoang wrote. AdvertisementThis sentimentalism can influence the pragmatism that marked Hanoi's foreign policy for the last two decades, wrote Hoang at the ISEAS–Yusof Ishak Institute. It's also a smart political move, as a segment of Vietnamese still holds "a deep fondness for Russia," wrote Hoang.

Persons: —, Vladimir Putin, Putin, Vietnam —, Hoang Thi, Yusof, Hoang, Janet Yellen, Yellen, Daniel Kritenbrink, Kritenbrink, It's Organizations: Service, International Criminal Court, Business, ICC, US, Russia, Institute, Regional, Political, State, East Asian, State Department, Soviet Union Locations: Russian, Vietnam, Russia, Soviet, Washington, Ukraine, Australia, Japan, Singapore, ISEAS, China, Hanoi, Moscow, Beijing, Atlanta

☆ How a Saudi pullback from a landmark US deal is bad news for dollar dominance
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Saudi Arabia has not renewed a deal that ensures the use of US dollars in the oil trade. The end of this "petrodollar" agreement will dent dollar dominance, the Atlantic Council wrote. This month, Saudi Arabia did not renew a 1974 accord that mandates the exclusive use of greenbacks when selling its crude oil. What's more, US dependence on Saudi oil has slid considerably, given a historic explosion in US domestic production. "China has become Saudi Arabia's largest oil customer, accounting for more than 20% of the kingdom's oil exports.

Persons: —, nonresident, Hung Tran, Tran, What's Organizations: Atlantic Council, Service, Saudi Locations: Saudi Arabia, Europe, American, China, Saudi, Beijing, Riyadh

☆ Satellite imagery may provide missing puzzle piece in Easter Island saga
▼ + stars: | 2024-06-21 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —Hundreds of monumental stone heads dot the coastline of the remote Pacific island of Rapa Nui, or Easter Island. Terry HuntThe rock gardens had covered up to 21.1 square kilometers (8.1 square miles) and could have sustained up to 17,000 people, previous research suggested. Archaeologists have identified the remains of rock gardens on which islanders would have grown sweet potatoes and other crops. “This finding was the result of integrating new remotely sensed data, data not available when we did our original study.” He wasn’t involved in the new research. In fact, when Europeans first make contact with Rapa Nui people, they only report seeing maybe 3,000 or 4,000 people and report that people were in good spirits,” Davis said.

Persons: Jared Diamond, ”, Dylan Davis, Davis, School’s Lamont, Terry Hunt, ” Davis, Rapa, ” Ladefoged, wasn’t, Christopher Stevenson, ” Stevenson, Carl Lipo, What’s Organizations: CNN, Columbia, Observatory, New Zealand’s University of Auckland, School of, Studies, Virginia Commonwealth University Locations: Rapa Nui, Rapa, Chile, Pitcairn, Washington

☆ China spends at least $230 billion trying to win the EV race, study finds
▼ + stars: | 2024-06-21 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Read previewChina has spent at least $230 billion on government support to electric vehicle makers such as BYD since 2009, according to a new study from the Centre for Strategic & International Studies think tank. Government subsidies have been a central pillar of China's quest to become an EV powerhouse over the past decade. AdvertisementChina is now the world's largest electric vehicle market, accounting for 60% of global EV sales in 2023, per the IEA — well above rivals like the US and Japan. EV makers in China can get government support through several routes, including infrastructure subsidies, tax exemptions, and buyer rebates. Massive government support has cultivated intense competition among China's legion of EV companies, which in turn has led to low prices.

Persons: —, BYD, Tesla Organizations: Service, Centre, Strategic & International Studies, Business, European Union, EV, CSIS, Battery, Penn Wharton University Locations: China, Europe, Japan, America

What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.

Persons: —, Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco

☆ Election Updates: Trump has rapidly eroded Biden’s edge in the 2024 cash battle.
▼ + stars: | 2024-06-21 | by ( Shane Goldmacher | Theodore Schleifer | ) www.nytimes.com time to read: +10 min

Overall, Mr. Trump was a daunting $100 million behind Mr. Biden at the start of April. And for the first time, Mr. Trump’s principal campaign committee had more cash than Mr. Biden’s: $116.5 million to $91.6 million. report does not translate to boots on the ground tomorrow,” Dan Kanninen, Mr. Biden’s battleground states director, said in an interview. So far, Mr. Biden has enjoyed a tremendous advertising advantage over Mr. Trump. Hopefully that changes as we get even closer.”For now, Mr. Biden is racing to replenish his coffers in June.

Persons: Donald J, Trump, Biden, outpacing, Trump’s, ”, Brian Derrick, ” Mr, Timothy Mellon, “ What’s, Dan Kanninen, Donald Trump, ” Steven Cheung, Mr, Joe, President Trump, Cheung, Jimmy Kimmel, Barack Obama, Erin Schaff, Nikki Haley, Haley’s, John Paulson, Stephen A, MAGA, Rufus Gifford, Mitt Romney, Barack Obama’s, Jon Reinish, He’s, Obama, Terry McAuliffe, Bill Clinton, — Andy Beshear, JB Pritzker, Gretchen Whitmer Organizations: Mr, Democratic National Committee, Republican National Committee, Trump, Biden, Democratic, Republican, The New York Times, Blackstone, Make, Inc, MAGA Inc, Hollywood, Illinois Locations: New York, Los Angeles, Trump’s Florida, Mar, AdImpact, Pennsylvania, Georgia, Virginia, Kentucky, Michigan, Atlanta

☆ After almost 30 years, Amazon's original book business is booming, leaked document shows
▼ + stars: | 2024-06-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +9 min

This is according to a detailed internal document obtained by Business Insider that reveals a host of new information and insights about Amazon's book business and the broader publishing landscape. Reliable data on this industry is limited or tightly controlled, so it's sometimes difficult to get handle on the scope of the book business. "Monopoly power"Amazon's book business has drawn antitrust scrutiny over the years. The company doesn't publicly disclose book sales, nor does it give a revenue breakdown of each retail category. The US accounts for over half of the salesThe document reveals a few staggering numbers that show how big Amazon's book business is.

Persons: —, John Warren, George Washington University's, doesn't, Lindsay Hamilton, Noble, Warren, Hamilton Organizations: Service, Business, Amazon, Federal, American Booksellers Association, FTC, Justice Department, BI, GMS, Barnes, Costco, Pew Research Center, George Washington University Locations: Germany, Japan, France, Italy, Spain, Australia

☆ Want your child to go to Eton? Get ready to pay $13,000 more each year
▼ + stars: | 2024-06-20 | by ( Anna Cooban | ) edition.cnn.com time to read: +10 min

London CNN —Private schools in Britain may conjure up images of rolling lawns, pristine tennis courts, and dormitory rooms, serving as gilded hothouses of privilege. Not every private school is “synonymous with privilege and great wealth,” argues Sue Hannam, headteacher at Lichfield Cathedral School, a private school in central England. About 620,000 children are currently enrolled in private schools in Britain, equivalent to almost 6% of all school children, according to the Independent Schools Council. Hodge at the Education Policy Institute noted that, accounting for inflation, private school fees had risen by as much as 25% since 2010. Still, a demographic shift means state schools may “welcome” the influx, Sibieta wrote last year.

Persons: YouGov, ”, Sue Hannam, “ We’ve, …, they’re, —, Hannam, John Keates, we’ve, Keir Starmer, “, ” Starmer, Louis Hodge, that’s, Loveena Tandon, … it’ll, it’s, Julie Robinson, they’ll, Robinson, ” Robinson, Christine Cunniffe, ” Cunniffe, Hodge, That’s, he, ” Luke Sibieta, Oli Scarff, Sibieta Organizations: London CNN — Private, Eton College, Labour Party, Eton, Labour, Lichfield Cathedral School, CNN, Lichfield, Independent Schools, Institute for Fiscal Studies, Sky News, Education Policy Institute, ISC, Ascot, Education, Institute, Getty Locations: Britain, Lichfield, England, United Kingdom, Lichfield , United Kingdom, London, “, Manchester, AFP

☆ Melinda French Gates: How Joe Biden earned my first-ever presidential endorsement
▼ + stars: | 2024-06-20 | by ( Opinion Melinda French Gates | ) edition.cnn.com time to read: +5 min

Editor’s Note: Melinda French Gates is a philanthropist, business leader and global advocate for women and girls. CNN —As President Joe Biden faces former President Donald Trump in another contest for the White House, the stakes for women and families couldn’t be higher. Obstetricians have fled states with strict bans, which could leave women without access to basic services like contraceptives. And he continues to fight for more affordable child care, home care for older Americans and people with disabilities and a long-overdue paid family and medical leave policy. While Trump has boasted about rolling back the rights of women, Biden understands that the future of our country depends on them.

Persons: Melinda French Gates, Joe Biden, Donald Trump, Melinda French, Jason Bell I’ve, I’ve, Trump’s, I’m, Biden, —, Roe, Wade, Obstetricians, Trump, he’s, That’s Organizations: CNN, White, US, Office

☆ Pence’s ordeal isn’t deterring Trump’s potential ticket mates
▼ + stars: | 2024-06-20 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Former Vice President Mike Pence at the US Capitol on May 16, 2024. This despite history suggesting that, at some point in their potential mandate, a possible President Trump might ask them to so something that tests their consciences, the law or the Constitution. The attractiveness of the vice presidential nomination may reflect Trump’s magnetism and the heady euphoria of being a key player in the “Make America Great Again” movement. He has also made clear to Trump that he wouldn’t have adopted Pence’s interpretation of the constitutional limits on vice presidential powers. Burgum has taken a classic route of parlaying an unsuccessful presidential campaign into a spot in the vice presidential derby.

Persons: Donald Trump’s, didn’t, Mike Pence, Ohio Sen, J.D, Doug Burgum, Florida Sen, Marco Rubio, Marco Rubio , South Carolina Sen, Tim Scott, Elise Stefanik, Arkansas Sen, Tom Cotton, Byron Donalds, Ben Carson, Trump, he’s, Pence, Kent Nishimura, —, there’s, MAGA, Vance, MAGA protégé, ”, Sen, Jeff Kowalsky, he’d, CNN’s Kaitlan Collins, wasn’t, Joe Biden’s, “ I’m, Mike Pence’s, ” Vance, wouldn’t, Rubio, Burgum, Justin Lane, Biden, Trump’s, “, who’s, you’re, Jim Watson, can’t, Kristi Noem, Noem Organizations: CNN, GOP, Republican National Convention, Vance , North Dakota Gov, Tim Scott , New York, Florida Rep, Urban, Capitol, Republican, Trump, Republicans, West Wing, Fox News, Getty, The Ohio Republican, Electoral College, ABC News, North, North Dakota Gov, New, Press, Dakota Gov, ”, South Locations: Vance , North, Florida, Marco Rubio , South Carolina, Tim Scott ,, Arkansas, Huntington, Detroit , Michigan, AFP, Pennsylvania, Georgia, “, parlaying, Indiana, North Dakota, boardrooms, New York City, New York, Washington, West Palm Beach , Florida, “ State, Wisconsin, South Dakota

☆ Dilemma on Wall Street: Short-Term Gain or Climate Benefit?
▼ + stars: | 2024-06-20 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

A team of economists recently analyzed 20 years of peer-reviewed research on the social cost of carbon, an estimate of the damage from climate change. They concluded that the average cost, adjusted for improved methods, is substantially higher than even the U.S. government’s most up-to-date figure. That means greenhouse gas emissions, over time, will take a larger toll than regulators are accounting for. In fact, the news from Wall Street lately has mostly been about retreat from climate goals, rather than recommitment. Banks and asset managers are withdrawing from international climate alliances and chafing at their rules.

Locations: Banks

☆ Taiwan to acquire more than 1,000 armed drones in new US arms sale
▼ + stars: | 2024-06-19 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

The United States has approved the $360 million sale of more than 1,000 small armed drones to Taiwan, as the self-ruled island claimed by China aims to strengthen its asymmetrical warfare abilities with an eye on successful tactics used on the battlefield in Ukraine. The proposed sale comes as China increases military pressure on Taiwan, with extensive military exercises around it and almost daily warplane flights near the island. In a statement Wednesday, Taiwan’s presidential office thanked the US for its security commitments, adding this was the Biden administration’s 15th weapons sale to the island since 2021. That includes $6.1 billion in asymmetrical weapon systems, including Harpoon missiles, PAC-3 missile interceptors and MQ-9B aerial drones, Cato said. Many analysts have urged Taiwan to pursue more asymmetrical weapons, which they say would be harder for China to counter than conventional arms in any invasion of the island.

Persons: “, Adm, Dong Jun, ”, Wahid Nawabi, Anduril, Biden, Karen Kuo, Cato Organizations: US Defense Security Cooperation Agency, Communist Party, Taiwan Relations, Washington, Chinese Defense, “, Cato Institute, Harpoon Locations: States, Taiwan, China, Ukraine, Taipei, Beijing, Singapore, “ Taiwan, Washington

☆ Spring Isn’t Even Over, but Summer Heat Is Here
▼ + stars: | 2024-06-19 | by ( Jacey Fortin | More About Jacey Fortin | ) www.nytimes.com time to read: +1 min

The last full day of spring will feel more like deep summer across much of the eastern half of the country. Humidity will make the air feel even hotter, and nighttime temperatures are expected to remain uncommonly high. The springtime heat, which will linger through at least the weekend in part of the region, has already caught some cities off guard. Inland New England and upstate New York began to swelter this week even before cities closer to the coast. In Rochester, N.Y., the heat index — an indication of how the air feels, accounting for humidity — soared higher on Tuesday than in San Antonio or St. Petersburg, Fla.

Locations: Chicago, New York City, Inland New England, New York, Rochester, N.Y, San Antonio, St, Petersburg, Fla

☆ Goldman Sachs: 37 non-tech stocks destined to be long-term winners of the AI boom
▼ + stars: | 2024-06-19 | by ( James Faris | ) www.businessinsider.com time to read: +1 min

Investors still have an insatiable appetite for AI, as Nvidia is now the world's most valuable firm. Goldman Sachs shared 37 stocks outside of the tech sector that can be AI winners. 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 . This story is available exclusively to Business Insider subscribers.

Persons: Goldman Sachs, —, what's Organizations: Nvidia, Service, Business Locations: Santa Clara

☆ A top VC predicts the industry is heading for a massive and enduring contraction
▼ + stars: | 2024-06-19 | by ( Blake Dodge | ) www.businessinsider.com time to read: +5 min

Venture capital has cyclical fluctuations, but Scott Stanford, a cofounder and partner at ACME Capital, an early-stage VC firm, thinks something more meaningful is underway. In a chart compiled by Stanford and shared with BI, by 1990, there were 300 VC firms overseeing $17 billion in assets. Now, there are 3,000 VC firms overseeing $1.2 trillion. Limited partners (LPs), or investors who put money into venture firms, have other options thanks to higher interest rates, Stanford added. AdvertisementThe ACME Capital team.

Persons: —, EisnerAmper, You've, Scott Stanford, Hany Nada, Stanford, today's, Nada Organizations: Service, Venture, Business, ACME Capital, Stanford, BI, ACME, Tech

☆ CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
▼ + stars: | 2024-06-19 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The shift presents challenges for tech-focused ETFs and could affect their holdings of heavyweights like Nvidia , Microsoft , and Apple . Markets are pricing in at least two rate cuts this year, while Fed officials have indicated only one rate cut is likely. Nvidia takes the crown Nvidia on Tuesday surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year.

Persons: Dave Calhoun, Josh Hawley, Calhoun, Hawley, Paul Ashworth, Susan Collins, Collins, Adriana Kugler, " Kugler, Jeff Cox, Cox, Claudia Sahm, —, Kif Leswing, Bob Pisani, Leslie Josephs, Alex Harring, Samantha Subin, Spencer Kimball, Yun Li, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Federal Reserve, Fed, Boeing, Federal, North, Capital Economics, Boston Federal, Peterson Institute for International Economics Locations: New York City, U.S, North America, Boston, Lawrence , Massachusetts, Washington

☆ Finbourne, a fintech startup that helps finance managers with data, just raised $70 million using this 10-slide pitch deck
▼ + stars: | 2024-06-18 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFinbourne, a London-based fintech company that helps large financial services businesses manage data, has raised $70 million in a Series B funding round. The Series B was led by Highland Europe alongside Axa Venture Partners and follows a $19 million Series A in 2021. The company has around 250 staff and will hire another 50 with the funding, McHugh said.

Persons: —, Thomas McHugh, haven't, McHugh, Finbourne, we've Organizations: Service, Business, Highland Europe, Axa Venture Partners Locations: London, Europe, Australia

☆ American households have seen their purchasing power increase
▼ + stars: | 2024-06-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

"Real" earnings measure the net growth in workers' wages after inflation. The trend of growth in annual real earnings has persisted since May 2023, according to BLS data. That marks a reversal from April 2021 to April 2023, when inflation spiked and eclipsed growth in the average worker's paycheck. That month, the average worker saw their pay growth spike to about 6% annually. "This is good news for consumers," since it generally equates to an increase in their well-being over time, he added.

Persons: It's, Chris Tilly, Maximiliano Dvorkin, Louis, Dvorkin Organizations: Getty, U.S . Bureau of Labor Statistics, Finance, University of California, Federal Reserve Bank of St, BLS Locations: U.S, Los Angeles

☆ The retirement Catch-22
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. Instead of making it easier for Americans to save for retirement and work as long (or as short) as they want, Fink is setting up a catch-22: The economy needs aging Americans to work longer, but many companies simply don't want them. One of Button's studies looked at "bridge jobs , " part-time jobs in administration or retail that many people use to ease into retirement and cushion their finances. The same year, Scripps Medical Clinic in San Diego was ordered to pay $6.9 million for setting a mandatory retirement age for physicians of 70, regardless of the doctors' interest or abilities. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult."

Persons: Larry Fink, behemoth BlackRock, Fink, Daniel Ross, Ross, he's, Emily Dickens, SHRM's, We've, Stacie Haller, Patrick Button, Button, ResumeBuilder.com, Gen, we've, Mother Jones, Lilly Organizations: Social Security, Lawyers, Society, Human Resources Management, US Chamber of Commerce, Tulane University, IBM, Employment, Commission, Scripps Medical Clinic, Employers Locations: Down, Texas, Austin, San Diego

☆ Retirement Crisis: Boomers Need to Work Longer, No One Will Hire Them
▼ + stars: | 2024-06-18 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +10 min

In order to avoid economic catastrophe, he argued, people should save more money and work longer. The current Social Security retirement age is 67, but most Americans depart the workforce earlier than that. For one, many older people cannot work because of a disability or because they need to care for someone else with a disability. And some older workers have heard all the corporate buzzwords and blather before, so they don't buy into management's sloganeering, rendering them "difficult." He's asking people who have not yet retired to work longer than their elders did and to save even more money, without changing the systematic barriers to either.

☆ Nvidia passes Microsoft in market cap to become most valuable public company
▼ + stars: | 2024-06-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia , long known in the niche gaming community for its graphics chips, is now the most valuable public company in the world. Shares of the chipmaker climbed 3.2% in mid-day trading on Tuesday, lifting the company's market cap to $3.33 trillion, surpassing Microsoft . Earlier this month, Nvidia hit a $3 trillion market cap for the first time, and passed Apple . Founded in 1991, Nvidia spent its first few decades primarily as a hardware company that sold chips for gamers to run 3D titles. Nvidia is a newcomer to the title of most valuable U.S. company.

Persons: It's, Jensen Organizations: Nvidia, Microsoft, Apple, Forbes, Windows, Dow Jones, Dow Locations: OpenAI, U.S

Search resuls for: "ACCOUNTING"

25 mentions found