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☆ Suspected smugglers were caught trying to hide $10 million of gold by painting it silver and disguising it as machinery on a cargo plane
▼ + stars: | 2024-04-09 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Hong Kong customs officials discovered 146 kilograms of suspected gold on board a freight plane headed for Japan. They say it is the largest gold-smuggling case on record in terms of value. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHong Kong customs officials have seized 146 kilograms of suspected gold, worth more than $10 million, on board a freight plane headed for Japan. The discovery is the largest gold-smuggling case on record in Hong Kong in terms of seizure value, according to the Customs Department.

Persons: — Organizations: Service, Customs Department, Hong Kong International Airport, Business Locations: Hong Kong, Japan

☆ Palmer Luckey says Anduril is working on AI weapons that 'give us the ability to swiftly win any war'
▼ + stars: | 2024-03-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Palmer Luckey says his defense tech startup is working on weapons that could change warfare. As AI-powered weapons advance, deterrence is key to national security, Luckey told the Financial Times. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Silicon Valley defense tech startup is working on products that could have as great an impact on warfare as the atomic bomb, its founder Palmer Luckey said. "We want to build the capabilities that give us the ability to swiftly win any war we are forced to enter," he told the Financial Times.

Persons: Palmer Luckey, Anduril, Luckey, — Organizations: Financial Times, Service, Business

☆ A California police force is in trouble with Lego after using its signature yellow heads to hide the faces of suspected criminals
▼ + stars: | 2024-03-27 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

A South California police department has been editing Lego heads onto suspects to protect their identity. AdvertisementA Southern California police department has found itself in trouble with Lego after it started editing the toy company's famous yellow heads onto criminal suspects. Screenshots show Lego faces edited onto suspects and posted to the Murrieta PD's Instagram page. The department may now have to turn to its stash of Barbie and Shrek faces, which also appear on the Instagram page, to protect suspects' anonymity. "Do they want people, who are being paid with their tax dollars, be paid to put Lego faces on people so it can be shown on social media?

Persons: —, Bill, Jeremy Durrant, " Durrant, Corey Jackson, Jackson Organizations: Service, Southern, Police, Murrieta Police Department, Lego, Fox News Digital, California Assembly, Associated Press Locations: California, Danish, Southern California, Murrieta, Los Angeles

☆ Lottery fever strikes as combined Powerball and Mega Millions jackpots hit $1.9 billion
▼ + stars: | 2024-03-25 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

The Mega Millions and Powerball jackpots have hit a combined $1.9 billion. This is Powerball's sixth largest prize draw in history. AdvertisementThe Powerball and Mega Millions Powerball jackpots are now at a combined value of almost $2 billion after no tickets matched all six numbers in the most drawings. Powerball's prize has now hit $800 million, its sixth-largest prize draw ever, while the Mega Millions jackpot is up to $1.1 billion. "Lottery fever continues to spread throughout the country," Gretchen Corbin, Georgia Lottery president, said in a Mega Millions statement.

Persons: —, Powerball's, Gretchen Corbin Organizations: Service, Georgia Lottery Locations: Georgia

☆ This man bought a ghost town and lived alone for 3 years. These are the 5 biggest struggles he's faced.
▼ + stars: | 2024-03-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Some challenges haven't become any easier, he writes in his new book "Ghost Town Living." Once a thriving 19th-century mining hub, it was a desolate ghost town when he moved there two years later. TragedyUnderwood woke at 3 a.m. one day to the smell of smoke, he writes in "Ghost Town Living." He went to stay with his parents for a month, leaving Cerro Gordo in the hands of a few friends. Brent Underwood's "Ghost Town Living" is published by Harmony.

Persons: Brent Underwood, haven't, —, Underwood, I've, he's, Loneliness Underwood, It's, Brent Underwood's Organizations: Service, Gordo, Cerro Gordo, Harmony Locations: Austin, Cerro Gordo , California, Cerro, Cerro Gordo, Death

☆ China is reportedly developing military drones that can split into 6 to overwhelm enemy defenses
▼ + stars: | 2024-03-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

The multiplying drones could expand into swarms that would confuse air defense systems, experts told Business Insider. But even when separated into single units, these drones' flight efficiency remains 40% higher than most small drones. Advertisement"When drones are detected, defense systems deploy a certain amount of resources proportional to the threat. If that threat suddenly multiplies, it provides an opportunity to overwhelm the air defense resources being deployed," Shumate said. Small, affordable drones are reshaping the modern battlefield in unprecedented ways, and forcing militaries to rapidly modernize their defense systems.

Persons: —, Getty, Will Shumate, Shumate, Huang, Sean Gallup, Admiral John Aquilino, Admiral Aquilino Organizations: Service, China Morning Post, Nanjing University of Aeronautics, Astronautics, Acta Aeronautica, Army, RAND, Getty, US Army, Pacific Command, Armed Locations: China, Russia, Ukraine

☆ Customers asked to return $40 million after a bank glitch let them take out more money than they had, report says
▼ + stars: | 2024-03-19 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Customers of an Ethiopian bank found they could withdraw unlimited cash for a few hours last weekend. More than $40 million was withdrawn or transferred from CBE, local media reported. NEW LOOK 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 . AdvertisementA technical glitch let customers of an Ethiopian bank take out or transfer more money they had in their accounts.

Persons: — Organizations: Service, Commercial Bank of Ethiopia, Business

☆ Elon Musk says Donald Trump didn't ask for money when their paths crossed during a breakfast meeting at a friend's house
▼ + stars: | 2024-03-19 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Elon Musk met Donald Trump by chance at a breakfast in Florida, he told Don Lemon in a new interview. The former President did not ask for a campaign donation or a loan for legal bills, Musk said. AdvertisementElon Musk denied that Donald Trump sought campaign donations when they met in Florida earlier this month. The X owner told Don Lemon in an interview released on Monday that their meeting on March 3 was a chance encounter. "I was at a breakfast at a friend's place, and Donald Trump came by.

Persons: Elon Musk, Donald Trump, Don Lemon, Musk, —, Lemon Organizations: New York Times, Service, CNN Locations: Florida

☆ Dell workers can stay remote — but they're not going to get promoted
▼ + stars: | 2024-03-16 | by ( Polly Thompson | ) www.businessinsider.com time to read: +9 min

AdvertisementUnder the new policy, staff were told that from May almost all will be classified as either "hybrid," or "remote." Dell told BI in a statement that "in-person connections paired with a flexible approach are critical to drive innovation and value differentiation." The Dell worker lives about a 45-minute drive from the nearest office and works 10-hour shifts four days a week. AdvertisementAnother Dell worker told BI: "I would support that if I actually had team members that were local and would actually go on-site. Period," the senior Dell worker agreed.

Persons: —, Dell, Dell who's, Michael Dell's, CRN, Michael Dell, Cary Cooper, Cooper, There's, Brandon Bell, there's Organizations: Service, Dell, BI, Dell . Dell Technologies, Dell Technologies, National Forum for Health, Getty, Employees, Workers, SEC Locations: Round Rock, United States, Dell, Germany

☆ The chef at London's Chishuru just won her first Michelin star. She started with a competition to open a pop-up restaurant.
▼ + stars: | 2024-03-10 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on an interview with the founder and chef of Chishuru, Joké Bakare, about pursuing her dream to open a restaurant. A year later, some friends spotted a competition run by Brixton Village in south London — they were offering the winner a three-month pop-up restaurant. In some ways, the Brixton restaurant was straightforward — it was a small site with just 18 covers inside and 14 outside. Harriet LangfordThe restaurant's success continued and in April 2022, Time Out named Chishuru as London's best restaurant. It's the food that my grandmother might have cooked, but with a London restaurant spin.

Persons: —, Joké, Covid, Jay Rayner, Matt Paice, Bakare, Harriet Langford, they'd, I've, We've, Cook, Chishuru Harriet Langford, It's Organizations: Service, Ahmadu Bello University, Business, Brixton, The Observer, Michelin, uda Locations: Kaduna, Nigeria, London —, Brixton, London, Matt, Chishuru

☆ Elon Musk's wealth is down by almost $40 billion this year — and it's only March
▼ + stars: | 2024-03-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

The Tesla CEO's wealth has dropped by almost $40 billion since the start of 2024. The EV maker's sagging stock price has taken its toll on Musk's net worth. The Tesla CEO's net worth has plunged by almost $40 billion this year, according to the Bloomberg Billionaires Index. AdvertisementThe LVMH chief is worth $197 billion, $1 billion more than Bezos, after adding $18 billion to his worth this year. Most of Musk's wealth comes from his 21% stake in the EV maker.

Persons: Elon, —, Jeff Bezos, He's, Bernard Arnault, it's, Arnault, Musk Organizations: Service, Tesla, Bloomberg Locations: China, Delaware

☆ I bought a California ghost town for $1.4 million. Living here gets lonely — but I've found my purpose.
▼ + stars: | 2024-02-25 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

In 2018, my friend sent me a listing for Cerro Gordo, an abandoned mining town in California. In the late 1800s, Cerro Gordo was a prosperous mining town. But right now, I'm sitting 900 feet under a ghost town that's miles away from them. Since I arrived, Cerro Gordo has been hit with storms, fire, a flood, an earthquake, and a blizzard. If I hadn't made this life change, Cerro Gordo would've otherwise just been forgotten, like the hundreds of other towns that were set up in the American West.

Persons: Brent Underwood, Cerro, I'm, I've, Cerro Gordo, Brent, It's, We'll, Gordo, snowstorms, We've Organizations: YouTube Locations: Gordo, California, American, Austin, Cerro Gordo, Cerro

☆ A Trident missile test-fired by a UK submarine failed. That's a lot of money down the drain.
▼ + stars: | 2024-02-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Read previewThe British navy suffered an embarrassing flop after a failed test launch of a Trident nuclear missile was revealed. AdvertisementIt's the second time in a row that a test launch of a Trident missile by the Royal Navy has had an unhappy ending. These failures have a high price tag, given that each missile costs tens of millions of dollars. AdvertisementThat involves manufacturing costs, missile extension programs, replacement warheads, in-service costs, and personnel salaries. Building the Trident system in the 1980s cost about £21 billion ($26.5 billion) in today's money, according to the Ministry of Defense.

Persons: —, Grant Shapps, Lockheed Martin Organizations: Service, British, Trident, Sun, Business, Defense, Royal Navy, US Navy, US, Lockheed, Vanguard, Ministry of Defense, Nuclear Disarmament, Department of Defense, Congressional, Office Locations: Florida, Africa, Ohio, Red Sea, Russia, Ukraine, Taiwan Strait

☆ Vinted cofounder Milda Mitkute shares the shopping app's path from 2 a.m. house party startup to $3.8B success
▼ + stars: | 2024-02-18 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Milda Mitkute, the cofounder of second-hand shopping app Vinted. But when you have 30,000 people on your site you need more servers and those invoices started going up to 200 euros. AdvertisementBut when we asked girls in Germany, France, and the US why they used Vinted, it was all about selling to earn some extra cash, authenticity, finding unique clothes, and consuming more sustainably. A life divided into projectsWhen you're young you think that the more you work, the more you're going to create. Mitkute stepped back from Vinted in 2017 and is no longer on the board but remains a shareholder.

Persons: —, Milda Mitkute, Vinted, Justas Janauskas, Justus, VIRGINIE LEFOUR, Getty, let's, Jonas Gratzer, Malvina, I've, It's, Mitkute Organizations: Service, Business, Vinted, Accel Partners, Facebook, Spotify Locations: Vilnius, Lithuania, Czech Republic, Germany, Soviet, France, Vinted

☆ Deepfake porn is a huge problem — here are some of the tools that could help stop it
▼ + stars: | 2024-02-18 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

"The overall percentage is now lower, but the overall volume of deepfake content which is pornographic has exploded," Ajder said. Deepfake porn of pop superstar Taylor Swift has raised awareness of the issue. Criminal deterrentsThis has had an effect on legislation in the UK, where the Online Safety Act has made it illegal to distribute deepfake porn — but not to create it. AdvertisementThough hard to prosecute, criminalizing deepfake porn is still an important deterrent, in his view. In India, a deepfake porn scandal involving Bollywood actresses spurred the government to fasttrack legislation and pressure the big tech companies to prevent AI-generated content from being spread online.

Persons: —, Trace, Henry Ajder, Midjourney, Ajder, Taylor Swift, Bauer, Griffin, Elon Musk, Biden, ChatGPT, they're, it's, Ben Zhao, Joe Biden, Joe Morelle, deepfakes, criminalizing Organizations: Service, BBC News, Google, Meta, Coalition, telltale, University of Chicago, NPR, Anadolu, Getty, Associated Press, Federal Communications Commission Locations: Deepfakes, British, New York, New Hampshire, India

☆ A former Twitter engineer says Elon Musk wrongly fired him for leaking information to the press
▼ + stars: | 2024-02-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Read previewA former engineer at Twitter, now X, says that he was wrongfully fired from his job after being accused of leaking information to the press. Speaking to Zoë Schiffer in her newly released book, "Extremely Hardcore," Lin said that someone lied about him leaking information to the press. So when Elon Musk took over Twitter in October 2022, the engineer was on board. AdvertisementWorkers install lighting on an "X" sign atop the downtown San Francisco building that housed what was formally known as Twitter, rebranded X by owner Elon Musk. Lin still insists that he had no involvement in leaking information, Schiffer writes in the book.

Persons: —, Randall Lin, Zoë Schiffer, Lin, Schiffer, Jack Dorsey, Elon Musk, Noah Berger, I've, Zoë, James Musk, Elon Musk's, Elon Organizations: Service, Twitter, Elon, Business, Twitter's San, Workers Locations: Twitter's, Twitter's San Francisco, San Francisco

☆ Forcing workers back to the office is 'dinosaur management' — and companies risk losing out, expert says
▼ + stars: | 2024-02-11 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

After the first rounds of return-to-office mandates in 2023, many companies are now introducing more punitive measures to make their employees come to the office — actively tracking attendance, micromanaging employees' time, and blocking remote workers from bonuses and career progression. AdvertisementThis week, Dell informed staff that most of its workers will have to come into the office an average of three days a week. Mike Blake/ReutersIn November, Amazon also added a no-promotions policy for perennial remote workers. For example, women — who tend to take on more responsibility for the family and therefore benefit more from flexible remote work policies — will take a bigger hit from punitive policies, Cooper said. The Equal Employment Opportunity Commission recorded a 16% increase in mental health disability complaints between 2021 and 2022 from employees who want remote work allowances, The Hill reported.

Persons: —, weren't, Dell, Andy Jassy, Mike Blake, Young, Cary Cooper, Cooper, Justin Garrison Organizations: Service, Forbes, Business, Citibank, BI, Amazon, Reuters, Google, Ernst, University of Manchester, Dell, Amazon Web Services, Tata Consultancy Services, Gallup, Employment, Commission Locations: London, United States

☆ Dell tells 'hybrid' workers to come into the office 3 days a week
▼ + stars: | 2024-02-05 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewDell has told some workers they must start going into the office about three days a week. Under the new rules, employees in "hybrid" roles must go to a company office at least 39 days a quarter — the equivalent of about three days a week, a Dell representative told Business Insider. AdvertisementDuring the pandemic Dell encouraged remote working, saying that 60% of its workforce could continue working from home regularly after it ended and only needed to come into the office once or twice a week. In March 2023, the company issued a new mandate ordering all staff living within an hour of Dell offices to commute into the office at least three days a week, Tech Radar reported. About two-thirds of Dell staff are outside the US.

Persons: —, Dell, Carewell Organizations: Service, Dell, Business, Amazon, Google, Apple, Tech Radar, Bloomberg, Research

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Netflix cofounder Reed Hastings just gave stock worth $1.1 billion to a Silicon Valley charity
▼ + stars: | 2024-01-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

He donated the holding, worth about $1.1 billion, to the Silicon Valley Community Foundation. The charity is favored by the elite of Silicon Valley including Mark Zuckerberg. AdvertisementReed Hastings, the cofounder and executive chairman of Netflix, has given away 2 million shares in the streaming platform. A Netflix representative told The Wall Street Journal the shares had been donated to the Silicon Valley Community Foundation. AdvertisementIn 2012 the Meta CEO and his wife, Priscilla Chan, donated 18 million shares worth about $500 million to the foundation.

Persons: Reed Hastings, Mark Zuckerberg, —, It's, Jack Dorsey, Priscilla Chan, Hastings, Marc Randolph, Patty Quillin, They've, Bill Gates, Warren Buffett Organizations: Netflix, Community Foundation, Service, Wall Street, Bloomberg, United Negro College Fund, Business Locations: Silicon Valley, Bay

☆ Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
▼ + stars: | 2024-01-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewBack in 2010, Elon Musk predicted that Japan would become Tesla's largest market outside of the US. "There are some geographies where our market share is remarkably low, like Japan," Musk said in a fourth-quarter earnings call earlier this week. Akio Toyoda has been skeptical of the benefits of EV cars. Tomohiro Ohsumi/Getty ImagesThat hesitancy has also held back the development of charging infrastructure — there are only about 30,000 EV charging connectors in the whole country — and kept price tags higher. But Japanese carmakers do have some plans to boost their EV efforts.

Persons: —, Elon Musk, Musk, Tesla, Suzuki, Nissan Sakura, Tatsuo Yoshida, Akio Toyoda, Ohsumi Organizations: Service, Business, BMW, Toyota, Honda, Nissan, Bloomberg, Bloomberg Intelligence, New York Times Locations: Japan, Europe

☆ Satya Nadella's life and career, from computer-science student to CEO of Microsoft and turning it into a $3 trillion titan
▼ + stars: | 2024-01-28 | by ( Polly Thompson | Matt Weinberger | ) 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. Read previewWhen Satya Nadella took over as Microsoft CEO on February 4, 2014, the company was struggling. This story is available exclusively to Business Insider subscribers. In January, as 56-year-old Nadella neared a decade in charge, Microsoft overtook Apple to become the world's most valuable public company and is now worth about $3 trillion. Here's how Nadella worked his way up the ranks of Microsoft and executed this startling turnaround.

Persons: —, Satya Nadella, Bill Gates, Nadella Organizations: Service, Microsoft, Business, Apple

☆ 'The Traitors' creator says the show got rejected '40 or 50 times' — but he kept pitching until someone said yes
▼ + stars: | 2024-01-26 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

The second season of "The Traitors" UK comes to its deceitful and dramatic conclusion on Friday. AdvertisementMillions of viewers are set to tune into the gripping season two finale of "The Traitors" UK on Friday. I probably pitched it 40 or 50 times to broadcasters – some of them said to me, "Oh no, not 'The Traitors' again," Pos told GQ. "When we aired it at the beginning of 2021, it was immediately a success," Pos said. Claudia Winkleman hosts the UK version of "The Traitors."

Persons: Marc Pos, —, Alan Cumming, Peacock, Claudia Winkleman, Ian West, it's, It's Organizations: Service, BBC, RTL Locations: Netherlands, Australia, Belgium, Norway, New Zealand, Scottish

☆ Rise of AI sparks big changes at SAP affecting about 8,000 jobs
▼ + stars: | 2024-01-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSAP will offer buyouts or different roles to about 8,000 workers in a restructuring plan related to the rapid rise of artificial intelligence. The new plan comes as SAP reported better-than-expected earnings, with revenue for its key cloud business expected to rise by about a quarter. SAP has been trying to incorporate AI solutions into its products, and has also invested about $1 billion in AI enterprise startups. It joins the slew of big tech companies, including Google and Microsoft, in making changes to their workforce following the rapid rise of AI.

Persons: —, Christian Klein Organizations: Service, Business, SAP, Staff, Google, Microsoft

☆ Nasa astronomers says signal coming from outside our galaxy is 'unexpected and as yet unexplained'
▼ + stars: | 2024-01-14 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

NASA scientists have found a powerful new gamma-ray signal coming from outside our galaxy. AdvertisementNASA astronomers have discovered an unexpected "signal" coming from outside our galaxy, which they can't explain. The scientists were analyzing 13 years of data from the Fermi Gamma-ray Space Telescope when they noticed the mysterious signal. NASA's Fermi Gamma-ray Space Telescope, illustrated here, scans the entire sky every three hours as it orbits Earth. NASA's unexpected discovery could help astronomers confirm or challenge ideas about how the dipole structure is created.

Persons: —, Francis Reddy, NASA's, Alexander Kashlinsky, Fermi, Chris Smith, Chris Shrader, Pierre Auger, Fernando Atrio Organizations: NASA, Service, Fermi, NASA's Goddard Space Flight, University of Maryland, American Astronomical Society, Goddard Locations: Argentina

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