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The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research. The CEBR forecast suggests China could potentially take the top spot as the world's largest economy by gross domestic product as early as 2037. "The ranking of which is the largest economy in the world — that doesn't take into account things like living standards. Around the world, policymakers are spending large sums of public funds to prepare for social and environmental challenges that may be ahead. Watch the video above to learn more about the race to be the world's largest economy.
Persons: Nina Skero, Mariana Mazzucato, we're, China that's, Joe Biden, Xi Jinping, Yasheng Huang, Rajiv Biswas Organizations: U.S, Centre for Economics, Business Research, University College London, Washington, MIT Sloan School of Management, P Global Market Intelligence, CNBC Locations: China, India, U.S, Japan, South Korea, Asia, Pacific
Read previewThere are some months when Jason McConahy, a part-time Lyft driver in Las Vegas, drives as few as 10 hours. That's because the 48-year-old gets more out of ride-hailing than some supplemental income and flexible working hours ; it's provided him with a valuable source of social interaction . This story is available exclusively to Business Insider subscribers. Several Uber and Lyft drivers have told Business Insider they've faced everything from rude comments to harassment while working. While he loves the social interaction and flexibility of ride-hailing, he said he doesn't think it's sustainable as a full-time job.
Persons: , Jason McConahy, it's, they've, McConahy, Uber, Lyft, I've, It's Organizations: Service, Business Locations: Las Vegas, Spokane , Washington,
They save about $165 a month, on average, said John Scott, director of Pew's retirement savings project. It's unclear how many other companies instead opted to sponsor their own 401(k) plan or other workplace plan. Why states are stepping inThere's a common thread here: A realization that people aren't saving enough for retirement, Scott said. The typical saver age 55 to 64 has just $71,000 of 401(k) savings, according to Vanguard data. Pew estimates that state spending will rise by $334 billion from 2021 to 2040 due to insufficient retirement savings.
Persons: John Scott, Scott, Pew, Washington —, Roth, they've Organizations: Auto, Workers, Trusts, Center for Retirement, Companies, Vanguard, Social Security Locations: Delaware, Hawaii , Maine, Minnesota , Nevada , New Jersey , New York, Vermont, Massachusetts , Missouri, New Mexico, Washington, U.S
Yes, you can get a mortgage in retirement, even if your only income comes from Social Security retirement benefits or other types of Social Security. How lenders view Social Security incomeMortgage lenders can't deny credit to applicants simply because their income comes from Social Security. Social Security income is viewed the same as any other type of income, with one exception that can work in recipients' favor. Additionally, if you have other sources of income aside from your Social Security income, be sure to include that in your application. Can you get a mortgage with only social security income FAQsCan I get a loan if my only income is Social Security?
Persons: , you'll, Shashank Shekhar, Shekhar Organizations: Social Security, Service, Social, DTI, Security, Chevron Locations: Chevron
Opinion | Nikki Haley’s Views on Social Security
  + stars: | 2023-12-04 | by ( ) www.nytimes.com   time to read: +1 min
The problem of an impending shortfall of the Social Security Trust Fund is in significant part a consequence of our rising economic inequality. High-income people pay a smaller share of their income into Social Security because salary over $160,200 — the so-called “tax max” — is not subject to the Social Security tax. Also, there is no Social Security tax on income from capital (including dividends, interest, capital gains and rents), which tends to go to wealthy people. Consequently, as a larger and larger part of our national income goes to the rich, the share collected by the Social Security tax declines. The solution is not hard to envision: Raise the “tax max” and tax income from capital.
Persons: “ Haley, Paul Krugman, Krugman Organizations: Social Security, Social Security Trust Fund, Social
CNN —As a young boy growing up in the 1960s in Mthatha, South Africa, Luyanda Mpahlwa loved to draw houses. Mpahlwa was among the first Black Africans permitted to study architecture in South Africa. “South Africa was in a state of emergency,” he said. There, he earned a master’s degree in architecture from the Technical University of Berlin in 1989 and began working for Pysall.Ruge, a design firm based in what is now the German capital. “The reality is the majority of people of South Africa live in conditions that are actually below what we should be defining as an urban environment,” he said.
Persons: Luyanda Mpahlwa, , Mpahlwa, Nelson Mandela, , Curry, ” Mpahlwa, iThemba, “ We’ve Organizations: CNN, Town, Design Network, South, Radisson, Technical University of Berlin, Pysall.Ruge, Technikon Natal, Durban University of Technology, Embassy, African Institute of Architects, MMA, Department of Basic Education, Design, Lutheran Community Center Locations: Mthatha, South Africa, Robben, , Cape Town, “ South Africa, Berlin, Germany, Luyanda, Africa, , Eastern, Cape Town’s, Kosovo, Philippi Township, Western Cape
Underwear brand Parade, once valued at $200 million, sold to a lingerie manufacturer for "peanuts." AdvertisementIn August, the Gen Z favorite underwear startup Parade sold to lingerie manufacturer Ariela & Associates International for what one former employee described as "peanuts." Some former staffers said the way founder and ex-CEO Cami Téllez ran Parade contributed to its downfall. Staffers told Business Insider that some of leadership's tactics were particularly harsh, such as announcing employee firings to the entire staff on Slack. In its first year Parade exploded, reaching nearly 100,000 customers and making nearly $9 million in sales, Téllez said.
Persons: Cami, , Cami Téllez, Slack, Kerry Steib, we've, Steib, Téllez, I'm, she'd Organizations: Service, Ariela, Associates International, AAI
Andrew Neely is a freelance writer who lost a job when one of his clients started using AI. His work for this content-marketing firm used to bring in between $500 and $2,000 a month. Until this year, one of my clients was a small marketing firmI worked for a marketing firm for two years writing marketing copy. After losing between $500 and $2,000 a month, I hustled for a few months trying to find different work. I found new clients and am still exclusively doing writing work, but most of it is for social media.
Persons: Andrew Neely, He's, , I've, ChatGPT, they'd, I'd, It's, I'm Organizations: Service, Solidarity, National Writers Union Locations: Denver
LOS ANGELES (AP) — A high-profile entertainment marketing consultant was targeted by a woman who had been stalking one of his friends before she fatally shot him after her forcing her way inside his Los Angeles home, prosecutors said Thursday. This week's slaying of Michael Latt sent shockwaves through Hollywood as the suspect faces charges of murder and burglary. Latt, 33, had worked on projects with filmmakers including Ryan Coogler and Ava DuVernay, as well as rap artist Common. Prosecutors allege that Jameelah Elena Michl, 36, knocked on his home's door and forced herself inside once it was open. Latt had also worked at the Sundance Institute, which issued a statement on behalf of his family.
Persons: Michael Latt, shockwaves, Ryan Coogler, Ava DuVernay, Jameelah Elena Michl, haven’t, Michl, Oscar Grant, Michael B, Jordan, Michelle Satter, Quentin Tarantino, David Latt, Latt, “ Michael, ” Latt, , Forbes, Lindsey Bahr Organizations: ANGELES, Prosecutors, Angeles County, Attorney's, Love, Sundance, Sundance Institute, Justice Locations: Los Angeles, Hollywood, , Oakland , California
Boris later traveled to Japan to be ordained as a Buddhist priest and returned to practice his adopted religion in Manhattan. Mr. Erwitt credited “shyness” — he had arrived in New York speaking no English — with making him a photographer. He began seriously taking pictures in Los Angeles with an antique glass-plate camera when he was 16, then upgraded to a Rolleiflex. The unheroic and the offbeat had already become signature motifs for Mr. Erwitt. He made his first dog-related pictures in 1946, for a fashion story about women’s shoes for The New York Times Magazine.
Persons: Boris, Erwitt, ” —, , , Capa, Steichen, Henry, Henry Luce Organizations: Hollywood High School, Los Angeles City College, New School for Social Research, Army, Army Signal Corps, New York Times Magazine Locations: New Orleans, Japan, Manhattan, New York, Los Angeles, France
The network of nearly 4,800 fake accounts was attempting to build an audience when it was identified and eliminated by the tech company, which owns Facebook and Instagram. The accounts sported fake photos, names and locations as a way to appear like everyday American Facebook users weighing in on political issues. Meta often points to its efforts to shut down fake social media networks as evidence of its commitment to protecting election integrity and democracy. But critics say the platform's focus on fake accounts distracts from its failure to address its responsibility for the misinformation already on its site that has contributed to polarization and distrust. But 2024 poses new challenges, according to experts who study the link between social media and disinformation.
Persons: Meta, Ben Nimmo, Donald Trump, Trump, Democrat Joe Biden, Biden, Zamaan Qureshi, , Jennifer Stromer, Elon Musk, Kyle Morse, Nimmo, Meta's Organizations: WASHINGTON, Inc, Meta, Democrat, Real Facebook, Syracuse University, Twitter, Republicans, Tech, Ukraine Locations: China, U.S, India, Mexico, Ukraine, Pakistan, Taiwan, Menlo Park , California, Tibet, Iran, Russia
On Wednesday, the Supreme Court is hearing a case challenging the authority of federal agencies. AdvertisementThree major Supreme Court cases could upend the way the government works — and put Americans' federal benefits and consumer protections at risk. These are the other big cases to follow on the Supreme Court's docket. AdvertisementChanging how the federal government is allowed to make regulationsAnother Supreme Court challenge has big implications for the way all federal agencies function. AdvertisementThe Supreme Court will likely issue final decisions on these cases by June.
Persons: , George Jarkesy, Jarkesy, Sheila Bair, Loper, Raimondo Organizations: Service, SEC, Securities and Exchange Commission, Center, American Progress, Social Security, Social Security Administration, Financial, Community Financial Services Association of America Ltd, Federal, Fifth Circuit, Federal Deposit Insurance, Loper Bright Enterprises, National Marine Fisheries Locations: Chevron
Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households. China climate official Su Wei told local media the green transformation of China would "inevitably involve profound changes in people's daily habits and consumption patterns", but he said carbon inclusion schemes would remain voluntary.
Persons: David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, David Stanway, Sonali Paul Organizations: REUTERS, China, Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New, Thomson Locations: Pingshan district, Shenzhen, Guangdong province, China, SHENZHEN, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing
Almost half of American consumers have bought something on social media this year, a new survey has found, as tech companies push for people to buy and sell products on their platforms. The Influencer Marketing FactoryBeauty products and clothes are the most popular items bought on social mediaOver 25% of the respondents who did buy products on social media said they bought apparel on social media, while 19% purchased beauty products. Over a third of those who bought on social media spent more than $100A total of 35% of those who bought something said they'd spent more than $100. Almost 10% of those who bought something on social media did so weekly. This discovery aspect is a big focus for social platforms.
Persons: Bridget Dolan, Douyin, Patrick Nommensen, TikTok, they'd, Alessandro Bogliari, execs, Instagram Organizations: influencer, Influencer, Factory, Business, YouTube, Intelligence, Facebook Locations: Los Angeles, China
Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Other countries have toyed with the idea of personal carbon trading, with pilot schemes set up in Finland and Australia's Norfolk Island. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households.
Persons: David Stanway, David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, Sonali Paul Organizations: Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New Locations: China, Shenzhen, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing
Olympic and Paralympic track star Oscar Pistorius leaves court after appearing for the 2013 killing of his girlfriend Reeva Steenkamp in the North Gauteng High Court in Pretoria, South Africa, June 14, 2016. REUTERS/Siphiwe Sibeko/Files Acquire Licensing RightsJOHANNESBURG, Nov 24 (Reuters) - South Africa's former Paralympic star Oscar Pistorius, jailed in 2014 for killing his girlfriend Reeva Steenkamp, will get another chance for an early release at a parole hearing on Friday. He was sent back to jail for six years in 2016 after a High Court sentence, which was less than half the 15-year minimum term sought by prosecutors. Several factors are typically taken into account by a parole board before inmates are released on parole. Pistorius was denied parole in March after it was ruled that he had not completed the minimum detention period required to be considered for parole.
Persons: Oscar Pistorius, Reeva Steenkamp, Siphiwe, Pistorius, Steenkamp, Singabakho Nxumalo, Conrad Dormehl, Bhargav Acharya, Olivia Kumwenda, Ken Ferris Organizations: North, North Gauteng High Court, REUTERS, Rights, Paralympic, Appeal, South Africa's Department of Correctional Services, Correctional, Reuters, Atteridgeville Correctional, Constitutional, Thomson Locations: North Gauteng, Pretoria, South Africa, Rights JOHANNESBURG, Atteridgeville
A prominent doctor is suing NYU Langone Health after he was fired as director of its cancer center over his social media postings about the Israel-Hamas war. Dr. Neel is one of two doctors whom NYU Langone has removed for online postings since the war began last month. The lawsuit could put NYU Langone under the microscope in the widening debate. “They should take away their scholarships,” Dr. Grossman wrote in a message to Dr. Neel in October. In a statement, NYU Langone said Dr. Neel’s decision to share those emails was just him “lashing out for being held accountable.”“The emails referenced in the suit were among colleagues and Dr. Neel is now making them public in an effort to pressure NYU Langone,” the statement said.
Persons: NYU Langone —, Benjamin Neel, NYU Langone, Neel, Zaki Masoud, Masoud, Dr, “ Dr, Perlmutter, Milton Williams, , , Ben Neel, ” Dr, Joseph Pace, Pace, Robert Grossman, Grossman —, , Grossman, Neel’s, Williams, “ Grossman, Ben Organizations: NYU Langone Health, NYU Langone, NYU, Journalists, Palestine, Johns Hopkins Hospital, Lenox Hill Hospital, NYU Langone’s, Court, Perlmutter Cancer, Social Media Policy, Social Media, New, , Harvard, Stanford, University of Pennsylvania Locations: Israel, New York, Gaza, Lenox, Mineola, Long, Manhattan, Connecticut
HENRYs — high earners, not rich yet — are a wide-ranging group often making over $100,000. Business Insider spoke to six HENRYs across the country about how they're saving amid high inflation. There's a wide variety of experiences and views among self-described HENRYs about their financial situations and goals. AdvertisementTo keep savings high, he fixes many monthly expenses — he schedules four haircuts a year, and he goes to the grocery store once a month. "Even the ones that are older and closer to retirement with $1-2 million in retirement savings, they're feeling the pinch as well, so it kind of made me feel better that I'm not alone," Eric said.
Persons: HENRYs, , Miles Goodloe, HENRY, he's, Goodloe, what's, He's, Robert Oszust Jr, Oszust, we're, Greg, Greg —, he's oversaving, they're, Sherry, She's, she's, Boresta, he'll, I'm, that's, Eric, who's Organizations: Business, Service, HENRYs, Social Security Locations: There's, Connecticut, Washington ,, Ohio
Owning Gucci loafers "wouldn't make me any less capable of leading my team," Téllez rightfully pointed out. Most startups attract people who know this and are excited by it, and Parade employees were no different. "Like any for-profit company, Parade sought to make money and deliver value for shareholders," she told Business Insider. Téllez told staffers DeFuria was sick, and some were worried enough to send flowers to his home. Téllez told employees that they should be receiving offers for positions at AAI "within the next 72 hours at the latest."
Persons: Camila Téllez, I'd, , Steph Korey, Audrey Gelman, they'd, Steve Jobs, I've, Emily Weiss, Marc Andreessen, Téllez, Gen Zers, Calvin Klein, Cami, Cami Téllez's, she'd, Gucci loafers, Slack, Rhonda Moret, there's, Jack DeFuria, Shakira, Warby Parker's, Neil Blumenthal, Peyton Dix, Jeffries, Evan Mock, Kamala Harris, Ella Emhoff, Gen, Karli Kloss, Omar, who'd, Ty Haney —, — Téllez, Kerry Steib, Meredith Gillies, we've, Steib, I'm, Lyndsey Arnold, Arnold, Lailee, Taghdisi, DeFuria, Kristen Dolzynski, Dolzynski, commenter, weren't Organizations: Ariela, Associates International, AAI, CNBC, Columbia University, NYU, Parade, West Dakota, Forbes, longtime, American, Karli, Voices, Spotify, North America, Employees, Casper, Casa de, Former Locations: New York, Instagram, New, Téllez, York, Colombia, North, SoHo, Dominican Republic
The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Social media company X CEO Linda Yaccarino told employees that "data will tell the real story" about its efforts to battle antisemitism, according to a note to employees, amid growing outrage over the issue. On Thursday, and media watchdog group Media Matters said it had found that ads for major brands had appeared next to posts that touted Nazism. An X representative confirmed that the company would sue the nonprofit organization, possibly as early as Monday. After buying Twitter in October 2022 for $44 billion, Musk laid off thousands of employees, including many who worked to moderate content on the platform.
Persons: Dado Ruvic, Linda Yaccarino, Elon Musk, Yaccarino, Musk, Angelo Carusone, Sheila Dang, Jonathan Oatis Organizations: Twitter, REUTERS, Social, IBM, Comcast, White, Media, Reuters, Thomson Locations: United States, Israel, Gaza, Dallas
Sandu warned before the election that pro-Russian forces in the country, particularly fugitive business magnate Ilan Shor, had funnelled money into Moldova to "buy" voters. Shor's allies were barred from running two days before the first round and he complained from exile in Israel that the ruling had cost him electoral success. An independent won in Comrat, a town in the south where one of Shor's allies had won a regional vote earlier this year. Ion Ceban, running under a party he founded, was re-elected mayor of the capital Chisinau in the first round, though the president's supporters suggest he may hold pro-Russian sympathies. Reporting by Alexander Tanas; Editing by Ron Popeski and Will DunhamOur Standards: The Thomson Reuters Trust Principles.
Persons: Maia Sandu, ZAK BENNETT, Maia Sandu's, Sandu, Ilan Shor, Shor's, Ion Ceban, Igor Grosu, Shor, Arina Korsicova, Alexander Tanas, Ron Popeski, Will Dunham Organizations: USAID, Democracy, Ford Foundation Center, Social Justice, 78th United Nations General, Rights, Sunday, European Union, Sandu's Party of Action, Solidarity, Socialist Party, PAS, Constitutional, The Organization, Security, Cooperation, Thomson Locations: New York City, U.S, Rights CHISINAU, Moldova, Russian, Ukraine, Romania, Israel, Moldova's, Balti, Russia, Comrat, Calaras, Chisinau, Europe
Lionsgate suspends advertising on X
  + stars: | 2023-11-18 | by ( ) www.reuters.com   time to read: 1 min
The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 17 (Reuters) - Lions Gate Entertainment (LGFa.N) has suspended advertising on Elon Musk-owned X, a spokesperson for the company said on Friday. Apple (AAPL.O) is also pausing all advertising on X, Axios reported, after Musk backed an antisemitic post on the social media platform earlier this week. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Axios, Musk, Samrhitha, Devika Organizations: Twitter, REUTERS, Gate Entertainment, Elon, Apple, Thomson Locations: Bengaluru
Opinion | Postpone Social Security for the Sake of the Young?
  + stars: | 2023-11-18 | by ( ) www.nytimes.com   time to read: +1 min
The enormous income gap between workers and executives is a much more relevant factor in the lopsidedness of wealth distribution. The aging population is depicted as carefree, golf-playing, medically fit scammers living off struggling young wage earners. Social Security earnings are based on wages earned in a lifetime. The solution is not to raise the age limit for retirement but to eliminate the maximum taxable income for Social Security, currently $160,200. And to the authors, please stop finding ways to divide the young and the old.
Persons: Eugene Steuerle, Glenn Kramon, Florence Estes, I’ll Organizations: Security, Social, Social Security, Millionaires, Florence Estes Chicago Locations: U.S
This theme is something King Charles III adopted from the earliest moments of his reign. The latest cover of The Big Issue features a portrait of King Charles III, taken by celebrated British photographer Rankin to mark the launch of the Coronation Food Project. On Monday, King Charles shared his celebrations with others who were also turning 75. Another signal of the King’s birthday theme of public service came from a change you may have missed this past week. Meanwhile, the Prince of Wales’s Charitable Fund will be known as the King Charles III Charitable Fund going forward.
Persons: didn’t, King Charles III, Charles ’, Queen Camilla, Rankin, Charles, Victoria Jones, ” Charles, Prince Harry, King Charles, Prince Organizations: CNN’s Royal, London CNN —, Food, Rankin, Rankin Creative, Edinburgh, Piccadilly, Buckingham Palace, National Health Service, Clarence House, Prince’s, King’s, Wales’s, King Charles III Charitable Locations: London, British, Buckingham, California, Highgrove , Gloucestershire, Wales
Mr. Rossman recalled encountering a tip screen this year at a self-checkout station at Newark Liberty International Airport. Replacing the old-fashioned tip jar, new digital payment systems have made it easy for businesses to ask customers for tips electronically. So for some, it can feel awkward to tap “other amount” or “no tip” on a payment screen if they feel that the employee or others in line are watching. More generous tipping practices took hold earlier in the coronavirus pandemic, with people inspired to help frontline workers. But as the pandemic eased, higher inflation took hold, and tipping as a percentage of a pricier meal tab became more noticeable.
Persons: Rossman, “ It’s, Michael Lynn Organizations: Newark Liberty International Airport, Cornell University
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