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☆ Netflix's stunning comeback — explained in one chart
▼ + stars: | 2024-09-27 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

AdvertisementWho's going to win the streaming wars? Its would-be competitors are nowhere close. It no longer had the market to itself, and its flaws could no longer be covered up by go-go growth. AdvertisementThe best way to show how the streaming wars have worked out is via this chart: It shows you that Netflix stock is soaring. (We also threw Fox on this chart, even though the company has mostly stayed out of the streaming wars, though Tubi, its free service, is starting to gain momentum.)

Persons: —, fickleness Organizations: Netflix, Service, Disney, Comcast, Warner Bros Discovery, Paramount, Fox

☆ Intel, once a Silicon Valley star, has been floundering. Now it's mounting a turnaround.
▼ + stars: | 2024-09-17 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

During his tenure as CEO, Grove transformed the chip company into a giant of Silicon Valley that, during the 1990s, was as important to the PC market as Microsoft. Pat Gelsinger, who has led Intel as CEO since 2021, has enacted a sweeping set of new initiatives to turn the chip company around. Its Gaudi 3 AI chip, unveiled as a rival to offerings from Nvidia and AMD, is expected to generate just $500 million in sales this year. Meanwhile, Alvin Nguyen, senior analyst at Forrester, told Business Insider that this is a big public win for Intel. Gelsinger's second headline announcement was that the company is establishing Intel Foundry as a separate subsidiary within Intel, with its own new operating board and independent directors.

Persons: —, Andrew Grove, he'd, Grove, Grove —, Pat Gelsinger, Gordon Moore, Gelsinger, HWA CHENG, Patrick Moorhead, Moorhead, Alvin Nguyen, Forrester, Gelsinger's, It's, Forrester's Nguyen, Bernstein Organizations: Service, Microsoft, Intel, Business, Nvidia, Gaudi, AMD, Revenue, HWA, Getty, Amazon Web Services, Intel Foundry, Reuters Locations: Silicon, Japan, Moore's, AFP, Poland, Germany, Arizona , Oregon, New Mexico, Ohio

☆ India's exam system is in chaos, with some families paying thousands to help their kids cheat
▼ + stars: | 2024-09-09 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +5 min

Cheating in India's medical entrance examCheating has, in particular, plagued India's highly competitive medical entrance exam, also known as the National Eligibility Cum Entrance Test (NEET). "Question papers are sold at extravagantly high prices," Ashok Rathore, a police officer who investigated cheating linked to India's medical school exam, told the Journal. The person said they can provide next year's medical entrance exam questions for around 1 lakh rupees ($1,200). Those with money can still legally obtain places in private medical colleges if they pay fees ranging from $115,000 to $145,000. Advertisement"For those people, the fact that someone cracked a highly competitive entrance exam and got in would inspire more confidence than someone who paid their way through the whole thing."

Persons: —, Dharmendra Pradhan, Ashok Rathore, George Organizations: Service, National Testing Agency, NTA, BBC, Business, Wall Street Locations: India

☆ Analysis: Musk tries to help Trump halt the Harris surge
▼ + stars: | 2024-08-13 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

Musk agreed with Trump that Harris was a radical leftist and flattered his guest by implying that he was strong and his Democratic opponents were weak. Like, okay, you know, President Trump is like, don’t mess with me.”Musk has already endorsed Trump, and he was leaving no doubt on Monday night that he wants to see him win a second term. Trump may not have been president without Twitter, as his emergence as a political force in 2016 coincided with the site’s heyday. “There is a lot of opposition to people just hearing what President Trump has to say,” Musk said. The Harris campaign was quick to respond, posting a Trump Truth Social post from last year that lambasted Florida Gov.

Persons: Elon Musk, Donald Trump, Kamala Harris, Joe Biden’s, –, Musk, Harris, “, ” Trump, baselessly, Biden, Trump, ” Musk, Kamala, ”, —, Steven Cheung, he’d, Thierry Breton, Cheung, Ron DeSantis Organizations: CNN, Tech, Elon, Democratic, Trump, Republican, Trump —, SpaceX, Twitter, Presidential, ”, Musk Trump, Biden, Florida Gov, Capitol Locations: United States, European, Europe

☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

☆ I floundered in white-collar jobs until I found my calling as an electrician in my 40s
▼ + stars: | 2024-08-01 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to essay is based on a transcribed conversation with Rachel Hoobing, a 50-year-old electrician in San Francisco. I found it very stressful and decided to leave in May 2012 and apply for an electrician apprenticeship. In 2015, I got my electrical trainee card, which meant I could do some non-union work as an electrician. I applied for an electrical apprenticeship with a union in 2016, when I was 43, and started the following year. AdvertisementI work for a union as an electricianI became a union electrician at the end of my five-year apprenticeship in 2021.

Persons: —, Rachel Hoobing, I'd, wasn't Organizations: Service, Business, Jobs Corps, Department of Labor, Job Corps, Home Depot Locations: San Francisco, arborists

☆ A life coach and businessman with 10 kids who 'almost lost it all' shares his top tip for helping clients prioritize a healthy work-life balance
▼ + stars: | 2024-07-31 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

He's the president of a Midwest manufacturing company, a life coach, a motivational speaker, and, oh yeah, he has 10 kids. Skoog said he's only able to guide others to a more balanced life because he himself "almost lost it all." He tells them to make a bucket list. "But most of them don't have a bucket list of things they actually want to do." The bucket list technique is one Skoog himself learned during the leadership class he took a decade ago.

Persons: —, Andrew Paul Skoog, Skoog, they're, They've, he's, It's, He's, You'd Organizations: Service, Business Locations: Midwest, Minnesota

☆ It’s Shark Season. How Worried Should You Be?
▼ + stars: | 2024-07-26 | by ( Erik Vance | ) www.nytimes.com time to read: +19 min

California has very few shark attacks — just two recorded in 2023, fewer than New York and the Carolinas. The eastern coast from Virginia to New York doesn’t see many shark attacks, despite having many popular beach towns. Long Island in New York is, roughly speaking, the northern border of the bull and tiger shark ranges. Tiger Shark A 3D illustration of a Tiger Shark. Kentucky managed to rack up 12 shark attacks in 2006 after the aquarium in Newport opened a shark petting exhibit.

Persons: Meg ”, “, —, You've, Read, Long, Louis, Napoleon, manhandling You've, snorkelers, snorkelers ’, Bob, you’re Organizations: Florida Museum, New York Times, America . California Carolinas, Georgia Florida Gulf, Alaska You've, Daytona, Bull Sharks, Tiger Sharks, Sharks, Nurse Sharks Locations: United States, Hawaii, Washington State, America . California, Georgia Florida, Georgia Florida Gulf Coast Hawaii, States New, Pacific Northwest, Alaska, California, New York, Carolinas, Los Angeles, San Diego, Georgia, South Carolina, Florida, North Carolina, Cape, Volusia County, Gulf, Coast of Texas , Louisiana , Mississippi, Alabama, Texas . Galveston , Texas, Maui, States, Virginia, New England, Cape Cod, Massachusetts, Maine, Northwest, Oregon, Washington, Mississippi, of Mexico, Kentucky, Newport, St, Fla

☆ Death of Hedge Fund Stars: Wall Street, Stock Market Titans Are Gone
▼ + stars: | 2024-07-21 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Take activist hedge funds, which buy up a percentage of a company's stock (or an asset) and then use their weight to push for operational changes. Or there would be a fun, splashy war between the hedge fund and the C-suite. Hedge funds rely on outperforming the market when times are hard and it's easier to find pockets of outperformance and exploit them. Of course, hedge funds are having a hard time coming up with a crew because the clients have changed too. Advertisement"At the end of the 1960s, the bubble burst, and everyone thought, 'That's the end of hedge funds,'" Mallaby said.

Persons: David Tepper, Anthony Scaramucci, Lenny Kravitz, lanyards, Bobby Jain, Goldman Sachs, Denise Shull, Charles Lemonides, ValueWorks, Saba Capital's Boaz Weinstein, BlackRock, Nelson Peltz, Bob Iger, Paul Singer's Elliott, —, Elliott, Meir Statman, Statman, I'm, That's, Paris, Marc Jacobs, they've, they're, Sebastian Mallaby, Julian Robertson, Julian, Mallaby, Lemonides, wonky quants, Keith Gill, David Einhorn, Andrew Left, bro Organizations: Appaloosa Management, Carolina Panthers, Bellagio, Millennium Management, Credit Suisse, Jain, Disney, Paul Singer's Elliott Management, Santa Clara University, Behavioral Finance, New, Tiger Management, Met, rockstar, Ferrari, Greenlight, Harvard, Princeton grad, Research Locations: Vegas , New York City, Singapore, Argentine

U.S. President Joe Biden attends a Partnership for Global Infrastructure and Investment (PGII) event, on the first day of the G7 summit, in Savelletri, Italy, June 13, 2024. "He needs to drop out," one Biden campaign official said. "No one involved in the effort thinks he has a path," said a second person working to elect him. "But Joe Biden and this campaign have made it through setbacks before. We're all waiting around for Joe Biden to f--- up again, which is not a great position to be in."

Persons: Joe Biden, Joe Biden's, Biden, Kamala Harris —, Donald Trump, he's, Jen O'Malley Dillon, Julie Chavez Rodriguez, O'Malley Dillon, Chavez Rodriguez, Arizona —, Trump, shouldn't, Biden floundering Organizations: Global Infrastructure, Investment, WASHINGTON —, NBC News, Democratic, Biden, Trump, AARP, NBC, Republican, Public Locations: Savelletri, Italy, Georgia, Arizona, Michigan , Wisconsin, Pennsylvania, Wisconsin

☆ New York Times editorial board says Biden has 'put the country at risk' by remaining in the presidential race
▼ + stars: | 2024-07-09 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Biden's poor debate performance against Trump has set off major alarm bells with many Democratic voters, lawmakers, and donors — a scenario that they didn't envision in the lead-up to the party's August convention in Chicago. Related storiesAfter last month's debate, The Times' editorial board, which operates separately from the newsroom, called on Biden to step aside as the Democratic nominee. AdvertisementAnd this week, the board once again urged Biden to leave the race, arguing that the president was seeking to "defy reality" by remaining the Democratic Party's standard-bearer. "Mr. Biden has disregarded the concerns of those voters — his fellow citizens — and put the country at significant risk by continuing to insist that he is the best Democrat to defeat Mr. But as Biden defended his reelection bid, he leaned into his age as an important part of his life experience.

Persons: —, Joe Biden, he's, Donald Trump, Biden, Mr, Trump, he'll Organizations: Service, Trump, Democratic, Business, New York Times, Times, — Locations: Chicago

☆ Opinion | The Democratic Party Must Speak the Plain Truth to the President
▼ + stars: | 2024-07-08 | by ( The Editorial Board | ) www.nytimes.com time to read: +2 min

For voters who held out hope that President Biden’s failure to communicate during last month’s debate was an aberration, the intervening days have offered little comfort. Mr. Biden, instead of campaigning vigorously to disprove doubts and demonstrate that he can beat Mr. Trump, has maintained a scripted and controlled schedule of public appearances. The president, elected in 2020 as an antidote to Mr. Trump’s malfeasance and mendacity, is now trying to defy reality. For more than a year, voters have made it unquestionably clear in surveys and interviews that they harbor significant doubts about Mr. Biden’s physical and mental fitness for office. Since his feeble debate performance, multiple polls have shown that both Mr. Biden’s approval rating and his chance of beating Mr. Trump have markedly dropped from their already shaky levels.

Persons: Biden’s, Donald Trump’s, Mr, Biden, Trump, ABC’s George Stephanopoulos, — Locations: Siena

☆ Developments in Gaza ceasefire talks raise hopes but challenges persist. Here’s what to know
▼ + stars: | 2024-07-08 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

Last week, a US official told CNN that a framework agreement is “in place” and talks resumed Friday in Doha. Hatem Khaled/ReutersOn Thursday, a senior US administration told CNN that the framework for a deal is “now in place,” following a call between Biden and Netanyahu. Hamas has long demanded that Israel agree to a permanent ceasefire before signing any deal, which Israel has so far refused. Netanyahu also said there will be “no return of thousands of armed terrorists to the northern Gaza Strip,” the statement said. “If the Americans are still optimistic (after Netanyahu’s Sunday statement), then they are really living in La La land,” Baskin told CNN.

Persons: ”, ” Israel, Israel, ” Gershon Baskin, Baskin, Joe Biden, “, who’ve, Khan Younis, Hatem Khaled, Biden, Netanyahu, –, Donald Trump, Yair Lapid, ” Lapid, Benjamin Netanyahu's, Ilan Rosenberg, Reuters Baskin, ” Baskin Organizations: CNN, Hamas, Reuters, Sunday, Trump, “ Locations: Israel, Palestinian, Gaza, Doha, Cairo, ”, Egypt, Israeli, Rafah, Jerusalem, La La

☆ Biden expected to speak with Netanyahu on Thursday
▼ + stars: | 2024-07-04 | by ( Arlette Saenz | ) edition.cnn.com time to read: +2 min

CNN —President Joe Biden spoke with Israeli Prime Minister Benjamin Netanyahu on Thursday to discuss developments relating to a hostage and ceasefire deal between Israel and Hamas, officials from the White House and Israeli government tell CNN. Vice President Kamala Harris also joined the call, a White House official said. A readout is expected to be released by the White House later Thursday afternoon. The Israeli official, who spoke on the condition of anonymity because they are not authorized to speak to the media, also told CNN that Netanyahu will convene a cabinet meeting Thursday night. Biden and Netanyahu last spoke on May 6.

Persons: Joe Biden, Benjamin Netanyahu, Kamala Harris, Netanyahu, Biden, CNN’s MJ Lee, Donald Trump Organizations: CNN, Israeli, White, Hamas, Biden, Democratic Party Locations: Israel, Washington

☆ Inside the New Job Stress Test Used From the NFL to the C-Suite
▼ + stars: | 2024-06-27 | by ( Scott Nover | ) www.businessinsider.com time to read: +14 min

In fact, I outperformed nearly all draft prospects in certain categories of this test, floundering on only one. Related storiesFor many years, the standard-bearer for evaluating the brains of NFL athletes was the Wonderlic, a short IQ test with a series of increasingly difficult questions. Stroud, then favored to be the first player selected in the NFL draft, over the Alabama quarterback Bryce Young. But then Stroud, the alleged dolt, went on to have one of the best rookie campaigns of any NFL quarterback, while Young struggled all year. Unfazed by the controversy over Stroud, S2 has begun selling its tests to other sectors.

Persons: Pong, Jack Marucci, Marucci, we've, Brandon Ally, Scott Wylie, Ally, Wylie, Patrick Mahomes, Lamar Jackson, John Michel, C.J ., Bryce Young, Young, Stroud, Stroud's, Aaron Rodgers, That's, Myers, Briggs, Goldman Sachs, Alberto Miranda, that's, Michel, Scott Nover Organizations: National Football League, SEC, Louisiana State University, NFL, Loyola University Maryland, Ohio State, Alabama, Athletic, Jets, Athletic Intelligence, intuit, Boeing, Meta, BI Locations: Tennessee, Nashville, C.J . Stroud, Stroud, Columbus , Ohio

☆ UK prime minister’s protection officer arrested over alleged bet on election timing
▼ + stars: | 2024-06-19 | by ( Sharon Braithwaite | Tara John | ) edition.cnn.com time to read: +2 min

CNN —A police constable working as part of the UK Prime Minister Rishi Sunak’s protection team was arrested this week for allegedly making bets related to the timing of the general election, police told CNN. The officer was arrested on Monday “on suspicion of misconduct in public office,” a Metropolitan Police spokesperson said Wednesday. The arrest comes days after the Guardian newspaper reported that a close aide of Sunak made a £100 ($127) bet on a July election date before the prime minister had publicly announced the date. Many people in the comments have since reacted by highlighting the news of the police constable’s arrest for allegedly betting on the election. The UK general election will take place on July 4.

Persons: Rishi Sunak’s, “, ”, Sunak, Craig Williams, that’s, Sunak’s Organizations: CNN, UK, Metropolitan Police, Commission, Protection Command, Professional, Guardian, BBC, Met, Sunak’s Conservative Party, Labour, Labour Party Locations: ”, Sunak, Britain

☆ Donald Trump turns 78, a birthday he wishes ‘doesn’t exist’
▼ + stars: | 2024-06-14 | by ( Steve Contorno | ) edition.cnn.com time to read: +9 min

Trump is now 78 years old. “Just remember what I’m telling you: 78 is not old,” Trump asserted to a New York Post gossip columnist almost two years ago. “This is a degraded version of an already horrible person,” Emhoff said in reference to Trump’s Vegas speech. The Biden campaign called Trump “feeble” on social media when the former president ended a post-meeting news conference after five minutes without taking questions. But the observations about Trump’s age and mental state are not just coming from inside the Biden campaign.

Persons: Donald Trump, ’, “, ” Trump, Ivanna, Joe Biden, Biden, –, J.B, Pritzker, deferments, They’re, Trump, ”, Nikki Haley, Nancy Pelosi, Barack Obama, Haley, Ron DeSantis, Trump “, ” DeSantis, can’t, I’m, pounced, Doug Emhoff, ” Emhoff, Taylor Swift, Pelosi’s, Steven Cheung, Biden “, ” Cheung, Alyssa Farah Griffin, ” Griffin, Trump’s, Jonathan Turley, ” Turley, ” CNN’s Edward, Isaac Dovere, Ariel Edwards, Levy, Kristen Holmes, Annie Grayer, Melanie Zanona, Lauren Fox, Kit Maher Organizations: CNN, Las, New, New York Post, Trump, White, ”, Wisconsin Democratic, South Carolina Gov, Republican, GOP, Florida Gov, Congressional Republicans, Wisconsin Republicans, Biden, House, George Washington University Law School Locations: New York, ” Illinois, Wisconsin, Vietnam, Florida, Washington, Milwaukee

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ The ‘Star Wars’ timeline is confusing. Here’s when ‘The Acolyte,’ ‘Ahsoka’ and more take place
▼ + stars: | 2024-05-04 | by ( Scottie Andrew | ) edition.cnn.com time to read: +17 min

Worry not, padawans: CNN has laid out a comprehensive timeline of the “Star Wars” canon so you can follow all of the franchise’s time-jumps without getting lost in space. These details are pulled from the official “Star Wars” resources “Ultimate Star Wars” and “Star Wars Character Encyclopedia,” as well as a chart of the eras explored throughout the franchise. ‘Star Wars: The Clone Wars’ (animated series)Ahsoka is Anakin's padawan in "The Clone Wars," and he lovingly calls her "Snips." ‘Star Wars Rebels’Kanan Jarrus, Zeb Orrelios and Sabine Wren take on the Empire in "Star Wars Rebels." ‘Rogue One: A Star Wars Story’Heroes attempt to find the plans to blow up the Death Star in "Rogue One."

Persons: we’ve, Rey Skywalker, Jin, Anakin Skywalker, Wan, Anakin, who’s, Anakin’s, Darth Maul, Palpatine, Darth Sidious, Obi, “, Padmé, ”, Count Dooku, Warner, Ahsoka Tano, Sidious, Darth Vader, Luke, Leia, Vader, ‘, Han, Chewie, Jonathan Olley, scoundrel Han, Thrillist, frenemy, Lando Calrissian, ‘ Obi, Kanan Jarrus, Zeb Orrelios, Sabine Wren, ‘ Andor, Cassian Andor, Jyn Erso, Jyn, ’ Luke, —, Yoda, batty, Lando, Yikes, Jabba, redeems, VI, VII, Grogu, Mando, Boba Fett, Jango Fett, flitted, Boba, Din, ” It’s, Ahsoka, Jabba the, Suzanne Tenner, Ezra Bridger, Hera Syndulla, Thrawn, Rey, Kylo Ren, ” Rey, stormtrooper Finn, Kylo, ’ Finn, Phasma, Ren, Snoke, MacGuffin, Poe, Emperor Palpatine, she’s, Jude, Kerry Condon, Lee Jung, jae, Amandla, Leslye Headland, James Mangold, Indiana Jones, Dave Filoni, Daisy Ridley Organizations: CNN, “, “ Star, Lucasfilm, Everett, Lucasfilm Ltd, USA, ‘, Warner Bros, Fox, Empire, Tech, Disney, Walt Disney Studios, ‘ Star Wars Rebels, Star Wars Rebels, AV, Pictures, Rebel, Rebels, Galaxy, imperials, Rotten, “ Star Wars Rebels, Force, Rey, C3PO, Jude Law, Variety Locations: Yavin, “, Republic, Hunter, Luke’s, ”, USA, carbonite, New Republic, Endor

☆ Opinion | Judging the Justices on the Presidential Immunity Case
▼ + stars: | 2024-05-01 | by ( ) www.nytimes.com time to read: +1 min

When litigants bring their dispute before a court for resolution, their expectation is that the court will reach a decision based on the facts in their case, not on some hypotheticals bearing scant relevance to their situation. The indictment against Donald Trump includes detailed allegations about his actions in trying to remain in the presidency. Those are the only allegations that the court should be considering in a narrow opinion determining if Mr. Trump has immunity. In more than 200 years with 44 presidents preceding Mr. Trump, he is the only one ever accused of criminal behavior. Does it even make sense for the court to be so fixated on the next rogue president?

Persons: Jesse Wegman, Donald Trump, Trump

☆ Malaysia might add a casino to boost troubled $100 billion mega-development Forest City
▼ + stars: | 2024-04-25 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

Malaysia may add a casino to Forest City, a mega-development that has turned into a ghost town. AdvertisementMalaysia's Forest City mega-development started with big ambitions and big money. Now, Malaysia is in talks with several high-profile investors to add a casino to Forest City, people familiar with the matter told Bloomberg on Wednesday. AdvertisementThe southeast nation's Prime Minister Anwar Ibrahim met with the heads of a Malaysian property development firm and a resort company at Forest City last week. Expensive, empty apartmentsA casino — which would only be the second in Malaysia — could help struggling Forest City.

Persons: —, Anwar Ibrahim, Ibrahim Iskandar, King Ibrahim, Anwar, They're, Al Marjan Organizations: Service, City, Bloomberg, nation's, Forest City, Garden, Genting Group, Berjaya Corp, Business, United, United Arab Emirates, Las Vegas, downstate Locations: Malaysia, Forest City, Singapore, Malaysia's, Malaysian, Forest, Genting, Marielle, Johor, United Arab, Al, York City, York

☆ Investors are ramping up their exits from Cathie Wood's ARK after an epic 72% decline in her flagship fund
▼ + stars: | 2024-04-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Investors are ramping up outflows from Cathie Wood's ARK funds after a three-year decline. The suite of ARK ETFs has seen net outflows of $2.2 billion so far this year, triple the outflows in 2023. AdvertisementInvestors in Cathie Wood's ARK ETFs are starting to increase the pace of outflows after a string of bad bets and a painful three-year decline. The ARK ETFs' combined assets under management stand at $11.1 billion, down 81% from its peak AUM of $59 billion in 2021. This dynamic — the sharp decline in ARK funds while the broader stock market hits record highs — was highlighted by Morningstar earlier this year.

Persons: —, Morningstar, Amy Arnott, Wood, Tesla Organizations: Service, Innovation, Morningstar, Nvidia, Unity Software

☆ People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
▼ + stars: | 2024-04-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's consumers and its central bank are snapping up gold, even as a falling yuan makes the metal pricier. AdvertisementChina's central bank has also been buying up gold, in much larger quantities than Gen Z's few grams of beans. Related storiesIn 2023, China's central bank bought 225 tons of gold, per the World Gold Council. The two economies have been jostled in the top spots for years, but China's buying spree last year put India behind. Advertisement"The amount of central bank buying is not justifying gold prices at current levels," she wrote.

Persons: —, It's, Georgette Boele Organizations: Service, Bloomberg, People's Bank of China, Gold, World Gold Council, ABN AMRO Locations: China, China's, India, Poland, Singapore, Germany

☆ The Meteoric Rise and Spectacular Fall of the Queen of Airbnb
▼ + stars: | 2024-04-21 | by ( Dan Latu | ) www.businessinsider.com time to read: +18 min

Now, after she made her pitch at the VFW hall, attendees clamored around Widell, eager to have her manage their Airbnb rentals. The reign of the Airbnb Queen of Tulsa was over — and her subjects were left to pick up the pieces. Dominic Bugatto for BIThe "Queen of Airbnb" label, which started off as Widell's Airbnb account name, helped create an aura of omnipotence. According to those familiar with the business, Widell seemed to be shifting her focus away from Airbnb rentals to the house-staging business. Today, her "Tulsa Airbnb Group" on Facebook remains active, with some 1,000 members.

Persons: Airbnb, Dani Widell, Widell, Kathy Portley, weren't, —, Emily Burke, Will Widell, They'd, thrifty, Will, who'd, Logan Haskett, Dominic Bugatto, Burke, hadn't, Knikki Nash, she'd, Mallory Massey, Massey, David Brunson, Brunson, Renee Brummett, We've, Dani hasn't, Brummett, doorstepped, unraveled, Nash, Dani, Widell's, carting, Will cosigned, Brummet, Tulsa's, Meagan McCollum, Bram Gallagher, Gallagher, Dan Latu Organizations: VFW, Tulsa, Facebook, Tulsa Real Estate Investors Association, Oklahoma State University, Tulsa People, Mahogany Prime, Summit, Downtown, Social, Bank of America Center, PGA, Investors, Widell, Employees, Rover, BI, nonpayment, University of Tulsa, Business Locations: Tulsa, Tulsa ., Widell, Airbnb, Brady, Arkansas, —

☆ Globe Life's stock crashed amid federal probes. Here's everything you need to know.
▼ + stars: | 2024-04-14 | by ( Katie Balevic | Susan Antilla | ) www.businessinsider.com time to read: +5 min

Globe Life Inc., a publicly traded insurance company based in Texas, was once flying high. Its top insurance agents basked in luxury with lavish company retreats and expensive sports cars. Related storyBy August 2023, Warren Buffett's Berkshire Hathaway had dumped over half of its 6.35 million shares of Globe Life. By then, Berkshire Hathaway had sold off all its shares in Globe Life. "It's disappointing that Globe Life neglected to address the evidence of insurance fraud and sexual misconduct that we uncovered."

Persons: —, Arias, Simon Arias III, Wolf, Renee Zinsky, Mike Russin, BI's, Warren Buffett's Berkshire Hathaway, Simon Arias, Abeni Mayfield, Berkshire Hathaway, AIL, Panda, Susan Antilla's, Nate Koppikar, Zinsky, Russin Organizations: Service, Business, of Justice, Life Inc, Arias Organization, Globe, Arias, Commission, AIL, Organization, BI, Department of Justice, Globe Life, Life, DOJ Locations: Texas, Pennsylvania

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