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☆ Leader of Federal Student Aid Office Steps Down After College Admissions Crisis
▼ + stars: | 2024-04-26 | by ( Zach Montague | ) www.nytimes.com time to read: +1 min

The nation’s top student aid official is stepping down, the Education Department said Friday, after the disastrous rollout of a new financial aid form that upended the college admissions process for millions of students this year. Richard Cordray, who took over as the leader of the Federal Student Aid office in 2021, will hand over his duties in June, Education Secretary Miguel A. Cardona said in a statement. Mr. Cordray’s departure coincides with a fraught admissions season. College administrators, students and members of Congress across the political spectrum have rebuked the Education Department for mismanaging a redesign of the Free Application for Federal Student Aid form, throwing the usual college admissions process into disarray. In his role, Mr. Cordray also oversaw a variety of other programs, including many parts of the Biden administration’s sweeping vision of student debt relief for millions of borrowers through loan forgiveness and income-driven repayment plans.

Persons: Richard Cordray, Miguel A, Cardona, Cordray Organizations: Education Department, Federal, Aid, College, mismanaging, Biden

☆ Early retail bulls chart Nvidia's transformation from gaming icon to AI superpower — a ride that's paid for cars, dream homes, and lavish vacations
▼ + stars: | 2024-04-23 | by ( Ana Altchek | Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Nvidia has been a cash cow for retail investors lucky enough to buy before the huge AI-fueled rally. Early retail investors told Business Insider their gains have paid for cars, vacations, and dream homes. The stock's steep climb — up over 1,500% since 2019 — has transformed the lives of some of Nvidia's long-term retail investors, resulting in comfier retirements, new cars, and gains worth millions for some. Nvidia shares tumbled by more than 30% in 2018. That sense of security that such a windfall provides was the top theme among the Nvidia investors Business Insider connected with.

Persons: —, I'm, ChatGPT, Tom, he'll, Danial hadn't, Danial, Roth, Jeff Roberts, Rick, He's, Chris Downs, Downs, he's Organizations: Nvidia, Business, Service, Vanda Research, Apple, Invest, Mexico City Locations: New Jersey, Texas, Costa Rica, Missouri, Bolivia, Paris, Mexico, Spain

☆ Countdown Is On for the Bitcoin ‘Halving’
▼ + stars: | 2024-04-18 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Cryptocurrency enthusiasts have eagerly anticipated the third week of April, counting down the days until a potentially crucial moment in Bitcoin’s development called “the halving.”Essentially, the halving is a scheduled reduction in the number of new Bitcoin that go into circulation. But this year’s halving has drawn especially enthusiastic attention as the crypto industry rebounds from years of falling prices and corporate implosions. In recent months, Bitcoin’s price has surged to record highs, reaching $73,000 in March. Much of that increase was driven by the approval of new financial products tied to Bitcoin, which spurred billions of dollars in new investment. Crypto investors are hoping that the halving will create a similar effect, causing Bitcoin’s price to climb further.

☆ ‘Peasants vs. Marie Antoinette’: What the Premier League does with its billions of dollars is riling 72 other soccer clubs
▼ + stars: | 2024-04-18 | by ( Ben Morse | ) edition.cnn.com time to read: +11 min

DisparityThanks to its multi-billion-dollar TV deals, the Premier League is often celebrated as a UK Inc. success story. Andrew Powell/Liverpool FC/Getty ImagesBy targeting talents from lower-league academies, Premier League clubs don’t have to pay inflated transfer fees. The mooted introduction of an independent regulator comes against the backdrop of some Premier League clubs falling foul of the Premier League’s Profitability and Sustainability Rules (PSR). Earlier this month, Everton were handed a further two-point deduction for allegedly breaching Premier League financial rules. Relegated from the Premier League in 2023, Leicester denies any wrongdoing and opened legal proceedings against the Premier League and the EFL, but could face a points deduction if found guilty.

Persons: Abu, –, Kieran Maguire, Marie Antoinette ”, Marie Antoinette, – James McConnell –, Gabriele Biancheri, James McConnell, Bobby Clark, Andrew Powell, Caroline Dinenage, Maguire, Richard Masters, ” Maguire, ”, “, ” Masters, Phil Noble, we’ve, It’s, Mike Egerton, they’ve Organizations: CNN —, Manchester City, League, Reading FC –, Reading, English Football League, CNN, British, Premier League, Inc, Sunderland, Manchester United, Cardiff City, Liverpool, Chelsea, Liverpool FC, Getty, Premier League clubs, Culture , Media, Sport Committee, Premier League clubs “, Premier League’s, ” CNN, The Times, European Super League, National League, Everton, Nottingham Forest, Manchester City –, Reuters, Nottingham, “ Premier League, Leicester City, Leicester Locations: Istanbul, Manchester, Abu Dhabi, France, Europe, England’s, Britain's

☆ More Americans Are Moving Abroad Because the US Is Too Expensive
▼ + stars: | 2024-04-17 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +12 min

"We realized we couldn't afford the mortgage and the car payments and everything," Stonestreet told me. Americans work more, vacation less, spend more on healthcare, and die sooner than people in other high-income economies. These factors likely explain why some Americans are moving to countries that aren't generally considered low-cost-of-living locales. She said that living abroad afforded her a degree of flexibility and spontaneity that would be out of reach back home. From their temporary perch in Tirana, Albania, the couple told me via WhatsApp that their only regret about moving abroad was not doing it sooner.

Persons: Amelia Basista, Stonestreet, Basista, Maliya, I'm, Fale, scoping, Cristina Johnson, Johnson, Mariana, Dustin Lange, that's, Mariana Lange, Mark Zoril, Andrew Hallam, Zoril, hasn't, — Zoril, Tomorrow's Organizations: State Department, American Citizens, Monmouth University, Labor Statistics, Financial Technology Association, Business Locations: South America, Denver, Cuenca, Ecuador, Germany, Canada, France, Minneapolis, Latin America, America, Puerto Morelos, Mexico, Pennsylvania, Belize, States, Austin, North Carolina, Central America, Portugal, Spain, Lisbon, Europe, Tirana, Albania

☆ BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
▼ + stars: | 2024-04-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

(Photo by Sean Gallup/Getty Images)BlackRock CEO Larry Fink predicted Friday that the Federal Reserve likely will still cut interest rates this year but won't meet its inflation target. A report earlier this week showed inflation running at a 3.5% annual rate. Still, Fink expects the Fed to do some reductions this year while it may have to concede that inflation will remain elevated. "Inflation has moderated and we've always said inflation is going to moderate. Fink spoke the same day BlackRock reported quarterly earnings that topped Wall Street expectations both for profit and revenue.

Persons: Larry Fink, Sean Gallup, it's, Fink, we're, " Fink, we've Organizations: UNITED, Expo City, United Arab Emirates, Getty, Federal Reserve, Fed, Federal, BlackRock Locations: DUBAI, EMIRATES, Expo City Dubai, Dubai, United Arab

In 2021, college athletes in the NCAA gained the opportunity to benefit financially from their name, image and likeness — known as NIL regulations. The NIL era has allowed college athletes to save for the future and seek professional financial advice in a way many 18- to 22-year-olds can't. NCAA athletes hire agents and financial advisors to help them negotiate NIL deals, ushering in new financial responsibilities. Copeland is the CEO of Athletes.org, an organization that focuses on helping college athletes navigate this new world. Morgan Stanley's head of Global Sports and Entertainment, Sandra Richards, and her team work with several NCAA athletes.

Persons: Caitlin Clark, Matthew Holst, Olivia Dunne, Chase Griffin, Griffin, Jayne Kamin, I've, He'll, Brandon Copeland, Copeland, Morgan Stanley's, Sandra Richards, Richards Organizations: Iowa Hawkeyes, Ohio State Buckeyes, Carver, Getty, NCAA, Louisiana State University, University of Iowa, UCLA, UCLA Bruins, Arizona Wildcats, Rose, CNBC, NFL, CNBC Global Financial Wellness, Global Sports, Entertainment Locations: Iowa City , Iowa, Pasadena , California

☆ Intel drops 8% after chipmaker reports hefty loss in foundry business
▼ + stars: | 2024-04-03 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Intel shares closed down 8% on Wednesday after the company disclosed long-awaited financials for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023. It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business, which reported $11.3 billion in operating income in 2023. Intel said Tuesday that it expects its foundry losses to peak in 2024 and break even halfway between the current quarter and the end of 2030. "NOW is when the real work begins," the analysts wrote in a Tuesday investor note. "With a multi-year execution cycle still ahead, we continue to prefer nearer-term AI beneficiaries, NVDA and AMD," the analysts wrote.

Persons: Cantor Fitzgerald, Intel's, —, Kif Leswing Organizations: Intel, AMD

☆ How many users does Donald Trump's social media company have? He won't say.
▼ + stars: | 2024-04-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Read previewThe stock price for Trump Media & Technology Group Corp — Donald Trump's social media company — dropped by nearly 25% on Monday. There are zero people who care about the business prospects of Trump Media & Technology Group who were unaware it was a bad business. And Trump Media & Technology Group? The numbers Trump's social media company are willing to share with investors illustrate that it's a lousy business. So the next time Trump Media stock tanks — a bet a lot of people have already made — feel free to imagine a good reason why.

Persons: —, Donald Trump's, Donald Trump, Elon Musk, It's, Per Trump, isn't, I've Organizations: Service, Trump Media & Technology Group Corp, Trump Media & Technology, —, Trump Media & Technology Group, Business, Trump Media, Elon, Twitter

☆ ‘I am so scared of them now’: Burned from overspending, some ‘buy now, pay later’ users warn others away
▼ + stars: | 2024-03-30 | by ( J.J. Mccorvey | ) www.cnbc.com time to read: +8 min

But the $6,000 in BNPL loans she'd racked up over roughly two years felt frivolous, she said, especially because they're planning to buy their first home. Many are seeking cover from high credit card interest rates. After trimming her discretionary spending and sticking to home-cooked meals, she said she's been able to whittle down her BNPL debt to about $1,200. Klarna said it had responsible spending limits for its users, whose average outstanding balance is $150, compared to the more than $6,000 for credit card users. Baird, for her part, acknowledged BNPL services can make inflation and high interest rates feel "easier" for those who can keep their shopping impulses under control.

Persons: Tia Whiteside, Whiteside, she'd, Dyson, she's, Marcus, whittle, Ben Lourie, Lourie, aren't, I've, Amy Baird, Baird, Kevin Mahoney, Mahoney, —, Afterpay, Klarna, Sen, Sherrod Brown, Raphael Warnock, John Fetterman, Brown Organizations: LexisNexis, Solutions, University of California, UC Irvine, Singapore Management University, PayPal, Consumer Financial Protection Bureau, Financial, D.C, Sens, NBC News Locations: Greenville , South Carolina, Irvine, Stanford, Dallas, Washington, Ohio

☆ I get $500 monthly from a basic income program. The money helped me get through my husband's cancer diagnosis.
▼ + stars: | 2024-03-24 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

This is an as-told-to essay based on a conversation with Lira Campbell, a 62-year-old widow in Hudson, New York who is receiving $500 monthly for five years from the town's basic income program. Before Hudson's basic income program, I was — like most Americans — living paycheck to paycheck, doing the best you can. I know the journey of somebody being diagnosed like that can be long, and it's going to take a lot. You know how sometimes you don't know you need help until you need help? AdvertisementOne of the things that was amazing to me about the program is that the money is no strings attached.

Persons: Lira Campbell, I'm Locations: Hudson , New York

☆ Bitcoin Hits Record High, Completing a Stunning Comeback
▼ + stars: | 2024-03-05 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Bitcoin hit a record high of about $68,800 on Tuesday, capping a remarkable comeback for the volatile cryptocurrency after its value plunged in 2022 amid a market meltdown. Bitcoin’s price has risen more than 300 percent since November 2022, a resurgence that few predicted when the price dropped below $20,000 in 2022. Its previous record was just under $68,790 in November 2021, as crypto markets boomed and amateur investors poured savings into experimental digital coins. “This is just the beginning of this bull market,” said Nathan McCauley, the chief executive of the crypto company Anchorage Digital. The funds provide a simple way for people to invest in the crypto markets without directly owning the virtual currency.

Persons: Bitcoin, ”, Nathan McCauley Organizations: Anchorage Digital Locations: U.S

He has encouraged the team to make a concerted effort to host his events at smaller, less costly venues, according to conversations with multiple Trump advisers. Mismatched and functional is the decor of the Trump campaigns’ offices,” a senior Trump adviser told CNN. And those figures don’t even include his mounting legal bills as he faces 91 charges in four criminal indictments. This fund, which reported raising $1.5 million through the end of last year, will continue to be utilized, Trump’s advisers say. One RNC member recently authored a resolution that seeks to ban the RNC from paying Trump’s legal bills.

Persons: Donald Trump, Joe Biden, Susie Wiles, Uber, Susie, Wiles, Chris LaCivita, ” LaCivita, you’re, Trump, that’s, ”, “, Jean Carroll, CNN Trump, Trump’s, —, Michael Whatley, Lara Trump, Brian Snyder, Reuters LaCivita Organizations: CNN, Trump, Save America PAC, Make, Inc, White, Save America, Republican, GOP, Biden, Democratic National Committee, Republican National Committee, America, Patriot Legal Defense, RNC, North Carolina, Reuters Locations: New York, York, Manhattan, America, —, Durham , New Hampshire

☆ Why Republicans are fighting the basic-income programs many cities and states are adopting: 'Is money a birthright now?'
▼ + stars: | 2024-03-03 | by ( Noah Sheidlower | Allie Kelly | ) www.businessinsider.com time to read: +9 min

Read previewAs guaranteed basic-income programs get more popular, opposition is also on the rise. Several lawmakers, like Arizona's Gillette, believe that income programs would discourage work and could raise taxes. A recently introduced bill in South Dakota would ban basic-income programs at the state level and prevent municipal governments from creating local programs. AdvertisementDespite opposition, basic-income program participants have seen benefitsPilot income programs have remained divisive with policymakers, but several major cities have seen positive results. In 2020, former Twitter CEO Jack Dorsey pledged $15 million to Mayors for a Guaranteed Income, which helped 25 cities and towns nationwide begin basic-income programs.

Persons: —, Dia Broncucia, Justin Searls, John Gillette, Gillette, Arizona's Gillette, Lupe Diaz, Steve Holt, Skyler Wheeler, Sen, John Wiik, Paul Bettencourt, Bettencourt, Harris, I've, Ivanna Neri, Neri, UpTogether, Tony Evers, Austin, Stephanie Hendon, Louis, Jack Dorsey, Mark, Anthony Middleton Organizations: Service, Business, Income, Austin, BI, Republican, Republicans, GOP, Social Security, Iowa GOP, Houston Public Media, Gov, Madison Forward Fund, Madison Locations: Denver, Arizona, Arizona , Iowa, South Dakota , Texas, Wisconsin, Phoenix, Iowa, South Dakota, Texas, Houston, UpTogether, Harris, Madison, Minneapolis , Northern Virginia, Boston, St, Oregon, Durham

☆ Austin gave low-income residents $1,000 a month with no strings attached. One participant said the payments helped her get her first permanent apartment.
▼ + stars: | 2024-02-24 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

The program provides $1,000 monthly to low-income families, who spent much of their payments on housing. She applied for the Austin Guaranteed Income Pilot, which gave 135 low-income families $1,000 monthly with funding from the City of Austin and philanthropic donations. An analysis by the Urban Institute think tank found that participants predominantly spent their $1,000 payments on housing and food. Still, the Austin pilot — and dozens of others nationwide — have not been entirely successful for every participant. I'm working, and when I got down here, I landed a job within a month," Hendon said.

Persons: Stephanie Hendon, —, Austin, Jessica Nairns, Ivanna Neri, Hendon, bachelor's, Stephanie Hendon Stephanie Hendon, We're, didn't, I'm Organizations: Austin, Service, Urban Institute, Hendon Locations: Austin, City of Austin, Texas, Austin's, UpTogether, Detroit, Hendon, Michigan

☆ The new FAFSA rollout has faced several obstacles and delays—what students and families can do
▼ + stars: | 2024-02-08 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Since its rollout at the end of December, the 2024-25 Free Application for Federal Student Aid has run into a number of speed bumps. All of which has culminated in delayed financial aid packages for current and incoming college students. To help alleviate some of the issues, ED announced this week it will deploy a "FAFSA College Support Strategy." The department will send resources, including funding and personnel, to college campuses to support financial aid administrators processing incoming FAFSA forms. "Students and families should keep in mind that, although the current circumstances are certainly stressful, everyone applying for financial aid is in the same situation."

Persons: they're, they'll, Jill Desjean Organizations: Federal, Aid, Department of Education, The Department, National Association of Student Financial, CNBC

He replaced Yi Huiman, who presided over months of turmoil as share markets slumped, losing trillions of dollars of value. Earlier this week, the CSRC said that it was cracking down on insider trading, market manipulation and other crimes and would protect small investors. A state investment fund pledged to step up buying of exchange-traded funds and regulators also imposed limits on short-selling. Prolonged weakness in the property market and share prices has dented consumer confidence, hindering that transition. Given the selloff in the stock market, “many could be tempted to take their loss and walk away in the slightest recovery.

Persons: Wu Qing, Yi Huiman, Swissquote, Wu, “, Xi Jinping, ” Ozkardeskaya Organizations: Shanghai Stock Exchange, Communist Party, China Securities Regulatory Commission, Xinhua News Agency, Investors, ”, Authorities Locations: BANGKOK, Wu, China, Shanghai, Shenzhen, Beijing

☆ Disney is set to report earnings after the bell. Here's what to expect
▼ + stars: | 2024-02-07 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

LOS ANGELES — The Walt Disney Company will report fiscal first-quarter results after the bell Wednesday as its board battles again with activist investor Nelson Peltz and Blackwells Capital. The media behemoth will also post earnings a day after it announced its sports network ESPN would partner with Fox and Warner Bros. Disney stock has climbed nearly 9% this year. Entertainment contains all of Disney's streaming and media operations, sports includes ESPN and experiences includes the company's theme parks, hotels, cruise line and merchandising efforts. Tune in: CNBC's Julia Boorstin is set to interview Disney CEO Bob Iger at 4:05 p.m.

Persons: Nelson Peltz, Peltz, Jay Rasulo, Bob Iger, Julia Boorstin Organizations: ANGELES, Walt Disney Company, Blackwells, ESPN, Fox, Warner Bros, Netflix, Disney, Star, Entertainment

BEIJING (AP) — China replaced the head of its market watchdog Wednesday in an apparent attempt to restore confidence in financial markets following a prolonged downturn. Official media said Wu Qing, a former chairman of the Shanghai Stock Exchange, would replace Yi Huiman as chairman and Communist Party chief of the China Securities Regulatory Commission. Chinese stocks have been trading near 5-year lows despite various measures to stabilize the markets. Earlier this week, the CSRC said it was cracking down on insider trading, market manipulation and other crimes and would protect small investors. The appointment came during a week that has seen wild swings in share prices and despair among investors who have seen their investments evaporate.

Persons: Wu Qing, Yi Huiman, Wu, “, Butcher ”, Swissquote, ” Ozkardeskaya, Yi, monthslong Organizations: BEIJING, Shanghai Stock Exchange, Communist Party, China Securities Regulatory Commission, Xinhua News Agency Locations: China, Shanghai, Shenzhen, Beijing

☆ Loud budgeting is in, quiet luxury is out. Meet the TikToker who started the financial trend
▼ + stars: | 2024-02-05 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

“Loud budgeting is a new concept I am announcing for 2024, it’s the opposite of quiet luxury,” he said in the TikTok post, posted on December 29. In this screen grab taken from a viral video by Lukas Battle, the comedian talks about the 'loud budgeting,' trend, versus 'quiet luxury.' In an online world where luxury and opulence are constantly on display — and unattainable for most people — “loud budgeting” makes being on a budget cool and acceptable. It’s the inverse of “quiet luxury,” which flourished on social media last year and promoted not flaunting your wealth or being understated about it. But loud budgeting could be a reckoning for brands who have found success in social media marketing.

Persons: Lukas Battle, Lukas, It’s, ”, they’re, Vivian Tu, Rich, ” Tu, Giovanna Gonzalez, “, Gonzalez, “ I’m, Michael Hershfield, Tu, it’s Organizations: New, New York CNN, CNN, TIAA Institute, Wall, P Global Market Intelligence, “ Locations: New York, Cabo, “

☆ French Farmers’ Unions Urge End to Roadblocks Amid Government Proposals
▼ + stars: | 2024-02-01 | by ( Aurelien Breeden | ) www.nytimes.com time to read: +1 min

France’s main farmer’s unions called on Thursday for an end to roadblocks across the country after expressing cautious satisfaction with a flurry of new government announcements to appease them, in the first sign of a possible reprieve after more than a week of protests disrupted traffic nationwide. It was not immediately clear whether the approximately 10,000 farmers at the 100 or so barricades would heed the union leaders’ call and go home after days of blocking key roads with tractors and bales of hay, including in Paris, to express a wide range of deeply rooted grievances. The unions said that they would monitor closely the government’s promises of new financial aid and a loosening of regulations in the run-up to a major farming trade fair scheduled for this month in Paris. “The action is not ending,” Arnaud Rousseau, president of the National Federation of Farmers’ Unions (the FNSEA), France’s largest and most powerful farmers’ union, said at a news conference in Paris. “It is transforming.”

Persons: ’, “, ” Arnaud Rousseau, ” Organizations: National Federation of Farmers ’ Unions Locations: Paris, “

These days, however, conspiracy theories and those who believe them seem to be playing an outsize role in politics and culture. On the left, Robert F. Kennedy Jr. has exploited conspiracy theories about vaccines to wage his own campaign for the presidency this year. The Associated Press has examined the history of conspiracy theories in the United States. “I was suicidal before I got into conspiracy theories,” said Antonio Perez, a Hawaii man who became obsessed with Sept. 11 conspiracy theories and QAnon until he decided that they were interfering with his life. Russia, China, Iran and other U.S. adversaries have worked to amplify conspiracy theories as a way to destabilize democracy further.

Persons: Robert F, Kennedy Jr, ”, John Llewellyn, Melissa Sell, Antonio Perez, “, I’ve, they've, —, Nash, peddlers, Trump, Timothy Caulfield Organizations: Associated Press, Illuminati, Wake Forest University, AP, Sandy, Elementary, Capitol, Business, U.S, University of Alberta Locations: United States, Pennsylvania, Connecticut, Hawaii, U.S, Russia, China, Iran

☆ Ceezer just raised $11 million to bring transparency to carbon credits. Check out 12-slide pitch deck it used to secure the funds.
▼ + stars: | 2024-01-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewGerman startup Ceezer, which helps companies plan, buy, and manage their carbon credit portfolio, has just raised 10.3 million euros, around $11.2 million, in Series A funding. Carbon credit marketplaces and accounting tools boomed in 2021 as large companies rushed to understand and offset their emissions. They were all vying for a slice of the projected $250 billion voluntary carbon market by 2050 , where private companies buy and sell carbon credits. Carbon credits are typically bought after achieving their stated impact, but this requires project developers to have cash upfront to get started, Drewelies said. AdvertisementThe fresh funding, led by HV Capital, will be used to launch new financial products so that project developers can unlock pre-financing.

Persons: —, Magnus Drewelies, Drewelies, Ceezer Organizations: Service, Business, Siemens, HV Capital, Norrsken, Picus, Partners Locations: Berlin, New York

☆ Chipotle wants to hire 19,000 workers for busy spring season, will offer new financial perks
▼ + stars: | 2024-01-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC. Hundreds of thousands of restaurant jobs disappeared as bars and eateries shuttered, either temporarily or permanently. But even before Covid, restaurants struggled to hire and retain younger workers, who often seek internships instead. Chipotle on Wednesday also touted new benefits that aim to help those younger workers tackle financial challenges. Additionally, Chipotle workers can also sign up for a Credi.ai debit card, which builds credit without fees or interest.

Persons: Chipotle Organizations: Industry, of Labor Locations: Washington ,, Covid

☆ Chipotle is going after Gen Z workers with new perks like help with paying off student debt
▼ + stars: | 2024-01-24 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Read previewChipotle is boosting its worker benefits to attract Gen Z workers as the chain seeks 19,000 new hires in the coming months. One carrot they're dangling before Gen Z applicants is a new perk that will help workers save for retirement while also paying off student loans. Private and federal loans are eligible for the student loan match, Chipotle said. Advertisement"If the employee is paying at least 5% of their salary toward the student loan, Chipotle will match 4% into their 401(k)," Chipotle told BI. The new 401(k) match incentive program is one of four new benefits introduced this week by the chain to help its Gen Z workforce.

Persons: —, Chipotle, Forbes, it's Organizations: Service, Business, Employees

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