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☆ The best banks in the Asia-Pacific region, according to customers
▼ + stars: | 2024-06-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment. After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. The report below — the first of its kind — is designed to highlight the banks that best meet consumer needs in their respective markets. They also rated each based on five criteria: trust, terms and conditions (such as fees and rates), customer service, digital services and quality of financial advice. The ranking only included banks that qualified according to the criteria described in the report.

Persons: They're Organizations: Customers, CNBC Locations: SINGAPORE, Asia, Pacific

☆ Google's privacy chief making 'shock' exit after 13 years with the company
▼ + stars: | 2024-06-05 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Google's chief privacy officer will be leaving the company in the fall. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle's chief privacy officer will leave the company after 13 years, and Google has no plans to replace him. Keith Enright will remain at the company until the fall, a Google spokesperson told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Keith Enright, —, Forbes, I've, Enright Organizations: Google, Service, Business

☆ Diamond industry 'in trouble' as lab-grown gemstones tank prices further
▼ + stars: | 2024-06-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Diamond prices have fallen 5.7% so far this year, according to Zimnisky's rough diamond index, declining more than 30% from their all-time high in 2022. Lab-grown diamonds, which can be up to 85% cheaper than natural diamonds, are made in a controlled environment using extreme pressure and heat. Lab-grown diamond sales have surged from just 2% of the global diamond jewelry market in 2017 to 18.4% in 2023, according to data provided by Zimnisky. An industry 'in trouble'"The diamond industry is in trouble," Daga told CNBC, adding that he believes natural diamond prices could fall another 15%-20% over the next 12 months. Similar to a natural diamond, a lab-grown diamond is graded based on the 4Cs — clarity, color, cut and carat weight.

Persons: Leon Neal, Duncan Wanblad, De, Paul Zimnisky, De Beers, Marcelo Esquivel, Ankur Daga, Daga, Anish Aggarwal, Lionel Bonaventure Organizations: Afp, Getty, De, BHP, Financial Times, De Beers, CNBC, Daxue Consulting, Bloomberg, Zimnisky Locations: Harrods, London, De Beers, American, China, U.S

☆ People assumed James Corden was yelling at airport staff in a viral photo — but a passenger says he was actually helping travelers stranded by an emergency landing
▼ + stars: | 2024-06-04 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +1 min

Presenter James Corden was photographed speaking to airport workers on Sunday. A passenger on the flight from Portugal to the UK said he was defending stranded travelers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer "Late Late Show" host James Corden helped passengers on a flight from Portugal to the UK on Sunday according to a fellow traveler, after the plane made an emergency landing. Photos of Corden speaking to airport staff circulated on social media, with many users assuming that he was being abusive toward workers.

Persons: James Corden, —, Corden Organizations: Service, Business Locations: Portugal, New York

☆ Sean 'Diddy' Combs sells off his entire stake in Revolt, the media company he founded
▼ + stars: | 2024-06-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Sean "Diddy" Combs is no longer an owner of the media company helped found. Combs sold his majority stake in Revolt following a slew of allegations from those once close to him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSean "Diddy" Combs has sold his majority stake in Revolt, the media company he cofounded. As first reported by The New York Times, the organization announced Tuesday that Combs had officially sold his shares, over a decade after Revolt first launched.

Persons: Sean, Diddy, Combs, — Organizations: Service, The New York Times, The Times, Business

☆ Exclusive: AI video generator Pika is seeking a valuation as high as $700 million in new funding round
▼ + stars: | 2024-06-04 | by ( Ben Bergman | Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

AI video generation startup Pika is raising a new round of funding, Business Insider has learned. The raise could value Pika at more than $500 million, and up to $700 million, per sources. It's facing fierce competition by OpenAI, Google, and other startups launching AI video tech. AdvertisementHot AI startup Pika is raising fresh funding to power its text-to-video generator, Business Insider has learned. The raise could value Pika at up to $700 million, per one of those sources.

Persons: — Organizations: Business, OpenAI, Google, Service

☆ This baked pasta dish is the Greek version of lasagna — but way better. I learned how to make my dad's recipe, and it's perfect for leftovers.
▼ + stars: | 2024-06-04 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +1 min

I learned how to make my dad's famous pastitsio, a classic Greek pasta dish. It's creamier than a baked ziti and meatier than your classic lasagna, and it's super easy to make. AdvertisementWhen it comes to pasta, the dish that I always look forward to most when I visit home is a Greek classic called pastitsio. Pastitsio (pronounced pa-stie-chio) is a baked pasta dish with ground meat and a béchamel sauce. It's creamier than a baked ziti and meatier than your classic lasagna.

Persons: —, it's Organizations: Service, Business

☆ Keith Gill scored a one-day gain of $79 million after disclosing his GameStop stake on Reddit
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Keith Gill scored a $79 million one-day gain on his GameStop bet on Monday. The massive gains were initially sparked by Gill disclosing his bet on GameStop worth more than $100 million. Monday's trading action in GameStop minted Gill a $33.6 million one-day profit on his stock position, and a $54.3 million gain on his call option stake, bringing his one-day gain to a whopping $79 million. Including total cash of $29.3 million, Gill has a total account value of $289.3 million, and he is also now the fifth largest shareholder in GameStop. The Reddit post came a couple weeks after Gill's "Roaring Kitty" Twitter account posted a deluge of memes and sparked another rally in the meme-stock.

Persons: Keith Gill, Gill, —, That's, Gill isn't Organizations: GameStop, Service, Trade Locations: YOLO, Reddit

☆ A New Yorker turned her one-bedroom apartment into a colorful dream space with 'dopamine decor'
▼ + stars: | 2024-06-04 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Maitri Mody moved into a one-bedroom apartment in Brooklyn, New York, in February. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAs Maitri Mody settled into her new apartment, she knew she needed to put her stamp on it. In February, she moved into a one-bedroom apartment in Brooklyn's Park Slope neighborhood with her pug, Ari. As a maximalist and fan of bright decor, Mody wanted to fill her apartment with color, even though she was only renting.

Persons: Maitri Mody, —, Mody, pug, Ari Organizations: Service, Business Locations: Brooklyn , New York, New York City, Brooklyn's

☆ Ukraine sent special forces to Syria to attack Russians there, revealing a new front to the war: report
▼ + stars: | 2024-06-04 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Ukraine has deployed special forces to Syria to fight Russian mercenaries there, per the Kyiv Post. They are backing Syrian rebels in fighting the Assad regime in the southwest, per the outlet. Ukraine is also fighting Wagner mercenaries in Sudan, the outlet previously reported. AdvertisementUkraine has deployed special forces units to Syria to combat Russians there, according to the Kyiv Post. Ukrainian special forces are fighting side by side with Syrian rebels against Russian mercenaries and Syrian President Bashar Assad's regime in the Middle Eastern country, the outlet reported.

Persons: Assad, Wagner, —, Bashar Assad's Organizations: Kyiv Post, Service, Russian, Ukrainian, Directorate of Intelligence, Business Locations: Ukraine, Syria, Kyiv, Sudan, Ukrainian

☆ The 15 companies US business students most want to work for
▼ + stars: | 2024-06-04 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

Universum shared a new set of rankings about what US students said would be their ideal employers. 1 among business students. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe dream employers of US business students vary a lot based on new results from employer branding specialist Universum. Universum surveyed over 40,000 US students from September 2023 to April 2024 and put together rankings based on what students in different fields of study, such as business, chose as their ideal employers.

Persons: Universum, — Organizations: JPMorgan Chase, Fidelity Investments, BlackRock, Service, Business Locations: Universum

☆ Storyblok, an Austrian CMS startup, just raised $80 million for US expansion using this 12-slide pitch deck
▼ + stars: | 2024-06-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Storyblok, an Austrian startup, has raised $80 million in Series C financing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn Austrian startup that offers content management systems (CMS) for businesses has raised $80 million in Series C funding. Angerer told Business Insider that the company was earning $1 million in annual recurring revenue while it was bootstrapped. This story is available exclusively to Business Insider subscribers.

Persons: —, Alexander Feiglstorfer, Dominik Angerer, Angerer Organizations: Brighton Park Capital, Service, Business Locations: Austrian

☆ OpenAI employees are demanding change. Here are the 4 things they want.
▼ + stars: | 2024-06-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Current and former employees at top AI companies are speaking out about the risks of AI. At least nine OpenAI insiders signed a letter calling for more protection for whistleblowers. AdvertisementA group of nine current and former OpenAI employees signed a letter calling out tech firms over major concerns about the risks of artificial intelligence. In their letter, the tech workers called for more transparency in AI companies and better protections for whistleblowers who raise concerns about AI's power. "We are current and former employees at frontier AI companies, and we believe in the potential of AI technology to deliver unprecedented benefits to humanity," the letter said.

Persons: — Organizations: Service, Business

☆ Modi's election surprise raises questions about India for USA Inc
▼ + stars: | 2024-06-04 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Narendra Modi's party won far fewer seats than expected in India's election. Modi's weakened majority may make it tougher for his government to push through reforms. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNarendra Modi looks set to secure a historic third term leading Indian despite his party winning far fewer seats than exit polls had suggested. The outcome sent Mumbai-listed stocks plummeting — and Modi's significantly weakened majority could be a source of concern for American businesses, too.

Persons: Narendra Modi's, Modi's, —, Narendra Modi, that's Organizations: Service, Business Locations: Mumbai, India

☆ Roaring Kitty could get booted from E-Trade after a social-media post appearing to reveal his position in GameStop caused the stock to surge
▼ + stars: | 2024-06-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Read previewKeith Gill, also known on social media as "Roaring Kitty" or "DeepFuckingValue," could get barred from E-Trade after his apparent disclosure of a huge stake in GameStop caused the stock price to soar. The Journal reported no decision had been made yet on whether to stop Gill from trading on the platform. The Journal also reported that the Massachusetts Securities Division was examining Gill's actions. The securities division confirmed to BI it was investigating Gill. June 4, 2024: This story has been updated to include comment from the Massachusetts securities division.

Persons: —, Keith Gill, Morgan Stanley, Gill, Gill's, Gill didn't Organizations: Service, Trade, GameStop, Street, Business, —, Massachusetts Securities Locations: Massachusetts

☆ In a rare stumble, Citadel loses money in May as peers gain. Here's how hedge funds performed last month.
▼ + stars: | 2024-06-04 | by ( Alex Morrell | Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Ken Griffin's $63 billion Citadel lost 0.8% in May, several people told Business Insider. 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 . The $63 billion Miami-based hedge fund, crowned by LCH Investments as the most profitable hedge fund of all time, lost 0.8% last month in its flagship Wellington fund, several people told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Ken Griffin's, — Organizations: Citadel, Business, Service, LCH Investments, Nvidia Locations: Miami, Wellington

☆ 19 cities where the average mortgage payment is still under $1,200 a month — including taxes, utilities, and insurance — according to SmartAsset
▼ + stars: | 2024-06-04 | by ( William Edwards | ) www.businessinsider.com time to read: +1 min

But some markets are still very affordable relative to national median cost levels. A recent SmartAsset analysis reveals 19 cities with median monthly mortgage costs under $1,200. 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: — Organizations: Service, Business

☆ Shocking Indian election results are a crushing blow to Modi
▼ + stars: | 2024-06-04 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Indian Prime Minister Narendra Modi's party has suffered a devastating blow. Though Modi is claiming victory, his party is seeing major losses in the country's general election. AdvertisementFor a decade, Indian Prime Minister Narendra Modi has held a decisive grip on his country's politics. Modi, who leads India's Bharatiya Janata Party, is claiming victory for a historic third term as the country's prime minister. But even though Modi is projected to hold on to his position, his party isn't doing as well as he'd predicted.

Persons: Narendra Modi's, Modi, —, Narendra Modi, India's Organizations: Indian, Service, India's Bharatiya Janata Party, Business

☆ Sports leagues got millions in betting company sponsorships. Then came the gambling scandals.
▼ + stars: | 2024-06-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

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 . After a landmark SCOTUS decision let states legalize sports-betting in 2018, the sector has become flush with cash, as countless leagues and team owners have struck deals. FanDuel inked a pact with Major League Baseball (MLB) to become its official betting partner last year, for instance. This story is available exclusively to Business Insider subscribers.

Persons: —, SCOTUS, FanDuel Organizations: MLB, NBA, ESPN, Service, Major League Baseball, DraftKing, Business

☆ The best LGBTQ+ movies to watch this Pride Month on Netflix
▼ + stars: | 2024-06-04 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

June is Pride Month, a celebration of LGBTQ+ people, art, and culture. These 10 movies, which are available to stream on Netflix, all deal with queer subject matter. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPride Month has been celebrated since 1970, though it wasn't officially recognized in the US until 1999, when President Bill Clinton declared June to be "Gay and Lesbian Pride Month." This story is available exclusively to Business Insider subscribers.

Persons: —, wasn't, Bill Clinton Organizations: Netflix, Service, Lesbian, Companies, Business

☆ Lithuania is the happiest place in the world for under-30s — Gen Zs say low rent, free university, and good nightlife are to thank
▼ + stars: | 2024-06-04 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Lithuania was ranked the happiest place for under-30s in the World Happiness Report 2024. Factors in its favor included free education, low rent, and opportunities in tech and creative fields. AdvertisementLithuania is the happiest place in the world for children and those under 30, according to the World Happiness Report 2024. And the Guardian reports that factors such as low rent, free education, and a vibrant nightlife are to thank. The World Happiness Report ranks countries based on a happiness measurement survey conducted by Gallup, where respondents evaluate the quality of their lives.

Persons: — Organizations: Service, Guardian, Gallup, Business Locations: Lithuania

☆ Things may not be going to plan at Nusantara, the $35 billion capital city Indonesia is building from scratch
▼ + stars: | 2024-06-04 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Indonesia is building a new capital from scratch, with Jakarta threatened by rising sea levels. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIndonesia's plans to build a new capital city from scratch have been hit by the unexpected resignation of the two top officials overseeing the project. Bambang Susantono and his deputy Dhony Rahajoe both quit their roles at the Nusantara Capital City Authority on Monday, outlets including Reuters reported. This story is available exclusively to Business Insider subscribers.

Persons: Tony Blair, —, Bambang Susantono, Dhony Rahajoe, Pratikno, Joko Widodo Organizations: Nusantara, Service, Nusantara Capital, Authority, Reuters, Asia News Network, Business Locations: Indonesia, Jakarta

☆ Higher interest rates have created 63 'problem banks' and $517 billion in unrealized losses, FDIC says
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

High interest rates continue to put pressure on the US banking system. The FDIC said the US banking system has 63 "problem banks" and is sitting on $517 billion in unrealized losses. AdvertisementMore than a year after the downfall of Silicon Valley Bank, higher interest rates are still putting pressure on the US banking system. According to the Federal Deposit Insurance Corporation's first quarter report, the US banking system is sitting on a collective $517 billion in unrealized losses and has 63 "problem banks." Those losses have been sparked primarily by a surge in interest rates over the past two years, which have driven down the price of fixed-income securities held by banks.

Persons: — Organizations: FDIC, Service, Valley Bank, Federal Deposit Insurance, Business

☆ A collapsed pipe tunnel that killed 3 people is being blamed on an intern who worked as a quality inspector
▼ + stars: | 2024-06-04 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Authorities are blaming an intern for a construction firm in China for a tunnel collapse. The intern, Wang Nianpu, is named "mainly responsible" and criminally liable while his bosses face fines. AdvertisementChinese authorities have named a construction intern as likely criminally responsible for a pipe network collapse that killed three construction workers. The report, seen by Business Insider, was filed in early May but went viral after local media reported the case over the weekend. This story is available exclusively to Business Insider subscribers.

Persons: Wang Nianpu, Wang, — Organizations: Service, Business Locations: China, Jinan City

☆ MLB bans Padres player for betting on his team's games
▼ + stars: | 2024-06-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

MLB player Tucupita Marcano has been banned for gambling on his own team's games. Marcano bet on 25 Pittsburgh Pirates games he didn't play in. AdvertisementIn yet another spots-betting scandal, San Diego Padres player Tucupita Marcano has been permanently banned for gambling on hundreds of games — including his own team's. Major League Baseball (MLB) cited Rule 21 stating players can't bet on games where they have "a duty to perform," but noted Marcano didn't actually play in any of the games. Four other players also received one-year suspensions for gambling, MLB announced Tuesday.

Persons: Tucupita Marcano, Marcano, —, didn't Organizations: Pittsburgh Pirates, Service, San Diego Padres, Major League Baseball, MLB, Business

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