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☆ Elon Musk is sued by another ex-Twitter exec, who says top bosses were 'cheated' out of $200 million in severance
▼ + stars: | 2024-06-18 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Elon Musk is facing another lawsuit over his turbulent takeover of Twitter. Twitter's former Chief Accounting Officer is suing Musk over $3.75 million in unpaid severance. Earlier this year, four other ex-Twitter senior execs sued Musk over unpaid severance. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk's legal battles keep piling up — and now he's facing a lawsuit from another former Twitter executive.

Persons: Elon Musk, Musk, execs, —, Elon, Robert Kaiden, Kaiden Organizations: Twitter, Service, Northern, Court, Business Locations: California

☆ Nvidia jumps past Microsoft to become the world's most valuable company
▼ + stars: | 2024-06-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia on Tuesday claimed the top spt as the world's most valuable company. Shares of the chip maker rose 4%, helping it edge past Microsoft's market cap. AdvertisementNvidia stock rose 4% on Tuesday, helping push its market capitalization past that of Microsoft to claim the title of the world's most valuable company. The chip maker on Tuesday boasted a market value of $3.338 trillion, edging out Microsoft's $3.326 trillion market cap by just $12 billion. Nvidia stock hit an intraday-high of $136.25 Tuesday afternoon.

Persons: —, ChatGPT Organizations: Nvidia, Tuesday, Service, Microsoft, Apple, AMD

☆ Jon Stewart says the POTUS race is boiling down to Biden and Trump accusing the other of 'having soup where there should be brain'
▼ + stars: | 2024-06-18 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +1 min

Jon Stewart came out swinging on Monday about how he thinks the POTUS race has devolved. Stewart said it's now "boiled down to each candidate accusing the other of having soup where there should be brain." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In his Monday monologue on "The Daily Show," Stewart kicked off his segment by giving a "quick state of play." "I guess the election has basically boiled down to each candidate accusing the other of having soup where there should be brain," Stewart quipped.

Persons: Jon Stewart, Stewart, it's, Biden, Trump, —, Jon Stewart isn't Organizations: CNN's Atlanta, Service, Business

☆ Gen X stands to gain the most wealth from the $84 trillion wealth transfer
▼ + stars: | 2024-06-18 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Generation X may be the biggest beneficiaries from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study. The findings cast a spotlight on the large wealth potential for Generation X, which has been largely overlooked in the discussion of young inheritors. The Wealth-X report suggests that wealth management firms, luxury companies and real estate firms targeting the next-generation of wealthy clients should also start considering Generation X. In the next 10 years, 1.2 million individuals worth $5 million or more will pass down a total of over $31 trillion in wealth, according to the report. Billionaires will pass down about $5 trillion, according to the report.

Persons: Gen, millennials, Gen Xers, Robert Frank, Inheritors Organizations: Wealth, Alliant Credit Union, The Locations: North America

☆ Japan's glut of abandoned, derelict homes created so many eyesores and safety hazards it's making the property market bleed billions
▼ + stars: | 2024-06-18 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

Japan's abandoned homes are casting a shadow on nearby properties, a Nikkei report revealed. The homes cost the Japanese property market some $24.7 billion over five years through 2023. Japan has been offering these abandoned homes at throwaway prices to lure buyers. AdvertisementJapan's glut of abandoned homes — or akiya — has hit the prices of surrounding properties, and the damage goes into the tens of billions. The report quoted research from the Japan Akiya Consortium, a group of 14 companies and a research institution that aims to tackle Japan's akiya problem.

Persons: —, Japan's Organizations: Nikkei, Service, Nikkei Asia, Japan Akiya Consortium, Business Locations: Japan

☆ How MBAs Are Skipping the Corporate Ladder to Become CEOs
▼ + stars: | 2024-06-18 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

Read previewWhat's the most sought-after job opportunity for graduating students of top business schools like Harvard Business School, Wharton at UPenn, and Stanford's Graduate School of Business? For the 2024 CIT program, which starts this summer, Alpine received 750 applications for just 12 slots, giving it an acceptance rate of 1.6%. Related stories"You're moving from Yale Law School and Harvard Business School to Jackson, Mississippi, to run a plumbing company," Anderman said as an example. Wurtzbacher also got invaluable leadership training from Weaver, a longtime professor at Stanford's Business School and winner of the MBA Distinguished Teaching Award in 2024. The CIT program is so attractive to them because it offers a clear path to doing this by leading a company.

Persons: —, Wharton, David Wurtzbacher, Wurtzbacher, Tal Lee Anderman, Graham Weaver, Weaver, JP, Graham, Anderman, they're, they've Organizations: Service, Harvard Business School, Stanford's Graduate School of Business, McKinsey, Business, Investors, Harvard, Stanford Business School, Green, Partners, CIT, Alpine's CIT, Wharton, Alpine, BI, Yale Law School, Alpine's San, Stanford's Business School, Stanford Locations: UPenn, San Francisco, Stanford, Manhattan, America, Jackson , Mississippi, Alpine's, Alpine's San Francisco, York, Carolinas, Virginia

☆ Apple doesn't want to be your banker anymore
▼ + stars: | 2024-06-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Apple discontinued its buy-now, pay-later service on Monday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt sure looks as if disrupting the world of finance isn't as easy as Apple initially thought. On Monday, the iPhone maker told 9to5Mac that it was discontinuing its buy-now, pay-later service, Apple Pay Later, just months after it was rolled out across the US in October. "With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the US."

Persons: Goldman Sachs, Apple's, it's, — Organizations: Apple, Service

☆ Biden's support among swing-state Black voters is weaker compared to 2020. But so far, they're not flocking to Trump.
▼ + stars: | 2024-06-18 | by ( John L. Dorman | ) www.businessinsider.com time to read: +1 min

Biden's support among swing-state Black voters has cooled considerably compared to 2020. Still, he's kept majorities of Black support in must-win Michigan and Pennsylvania, per new polling. Trump is hoping to win over more Black voters, but he's not benefiting from Biden's weaker numbers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ahead of November, Biden is struggling to recreate the electoral coalition — anchored by overwhelming support among Black voters — that sent him to the White House in 2020.

Persons: he's, Trump, —, Donald Trump, Joe Biden's, That's, Biden Organizations: Service, Black, White House, Business Locations: Michigan, Pennsylvania

☆ A woman who lost 44 pounds shares 3 of her favorite high-protein, lower-calorie recipes — from pizza to cheeseburger pie
▼ + stars: | 2024-06-18 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +1 min

Bethany Dobson lost 44 pounds after she learned about nutrition and strength training. Dobson's new understanding of calories and protein helped her make new versions of her favorite foods. She shared her pizza, cheeseburger pie, and brownie recipes with Business Insider. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Bethany Dobson, —, Dobson Organizations: Business, Service

☆ BlackRock says inflation could be an unwelcome side effect of the AI-driven productivity boom
▼ + stars: | 2024-06-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Capital spending on AI data centers could bring back inflation before boosting economy, BlackRock said. In the short term, AI winners will drive returns up for six to 12 months. 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 . "Capital spending on AI data centers has boomed since last year's ChatGPT moment," analysts led by Jean Boivin wrote on Monday.

Persons: —, Jean Boivin Organizations: BlackRock, Service, Business

☆ Matt Gaetz's sexual misconduct probe just got more serious
▼ + stars: | 2024-06-18 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +1 min

The House Ethics Committee issued a rare statement on its probe into Matt Gaetz on Tuesday. The panel's looking into whether he sought to obstruct government investigations of his conduct. That's in addition to the existing sexual misconduct claims. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In addition to the long-standing sexual misconduct allegations, the panel said it's now looking into whether the controversial Florida congressman has "sought to obstruct government investigations of his conduct."

Persons: Matt Gaetz, —, it's, Gaetz, Kevin McCarthy Organizations: Service, Business Locations: Florida

☆ An NYU freshman is suing her roommate, accusing her of stealing over $50,000 of her luxury belongings
▼ + stars: | 2024-06-18 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

The 19-year-old daughter of a Russian mining magnate is suing her NYU roommate. The lawsuit claims the roommate stole about $51,000 worth of luxury items, including a ruby ring. According to the suit, she sold some of the items on The RealReal — a secondhand marketplace. AdvertisementAurora Agapov, the daughter of a Russian-American mining magnate, has accused her New York University roommate of stealing more than $50,000 worth of luxury handbags and jewelry from her. In a lawsuit filed on May 31 in Manhattan's Supreme Court, Agapov, a 19-year-old freshman, claimed that her 18-year-old roommate, Kaitlyn Fung, sold some of the items on The RealReal — a secondhand luxury marketplace.

Persons: —, Kaitlyn Fung Organizations: NYU, Service, New York University, Business Locations: Manhattan's

☆ A Russian submarine that just left Cuba is 'falling apart' with its soundproofing panels falling off
▼ + stars: | 2024-06-18 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Russian naval ships left Cuba on Monday after a five-day official visit. Among them, the submarine Kazan — with visible damage including panels falling off. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOne of Russia's most advanced new submarines, which just left Cuba, is "falling apart" with damage on its hull, according to an OSINT analyst. Markus pointed to soundproofing panels "falling off" the front part of the submarine's hull.

Persons: —, Marijn Markus, Markus Organizations: Service, Business Locations: Cuba

☆ I packed for a weeklong cruise with just a carry-on and a backpack. Here are 10 items I'm glad I brought and 9 things I wish I had with me.
▼ + stars: | 2024-06-18 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

I took my first cruise on Royal Caribbean's Wonder of the Seas, one of the largest cruise ships. I brought only a carry-on suitcase and a backpack for the seven-night Caribbean cruise. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI took my first cruise in April 2022 on Royal Caribbean's Wonder of the Seas — one of the largest cruise ships in the world. For the seven-night cruise to the Caribbean, I brought just a carry-on suitcase and a backpack.

Persons: — Organizations: Service Locations: Caribbean

☆ Elon Musk's gamer streams are a new way to hear him riff on Tesla, SpaceX, and Neuralink
▼ + stars: | 2024-06-18 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Fans can tune into Elon Musk's gamer livestreams on X, which can last multiple hours. Musk streams under the handle cyb3rgam3r420 and plays games and answers questions via the chat. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A known avid gamer, the Tesla CEO has recently been streaming live on X, formerly Twitter, the social media company he owns. The livestreams are under his gamer-focused handle @cyb3rgam3r420 (yes, it references 420 — a favorite number of Musk's), not his usual @elonmusk handle.

Persons: Musk, —, Elon Musk Organizations: Elon, Service, Business Locations: Mars

☆ 9 items to get rid of from your summer wardrobe, according to stylists and designers
▼ + stars: | 2024-06-18 | by ( Cheyenne Lentz | ) www.businessinsider.com time to read: +1 min

Business Insider asked stylists and designers to share what's going out of style this summer. 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 . AdvertisementAs gas prices unexpectedly dip and grocery stores finally start lowering prices, there's a little more wiggle room in the summer budget to refresh your wardrobe. To help get you started, Business Insider asked stylists and designers which items you should get rid of right now.

Persons: Tenniscore, — Organizations: Service, Business

☆ The Fed could tip the US into recession if it waits too long to cut rates, Mohamed El-Erian says
▼ + stars: | 2024-06-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The Fed should not keep waiting to cut rates, Mohamed El-Erian wrote in the Financial Times. He said such a delay could eventually prompt an aggressive cutting cycle, increasing recession risk. El-Erian compares it to when the Fed insisted on not raising rates in 2021, but then had to sharply tighten. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Federal Reserve's holdup in cutting interest rates may be putting the US economy in jeopardy, Mohamed El-Erian wrote in an op-ed for the Financial Times.

Persons: Mohamed El, Erian, — Organizations: Financial Times, Service, Fed, Business

☆ Stocks making the biggest moves midday: La-Z-Boy, Rocket Lab USA, NextEra Energy and more
▼ + stars: | 2024-06-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

La-Z-Boy – The stock soared more than 19% after the furniture company topped Wall Street expectations for the fiscal fourth quarter. La-Z-Boy reported adjusted earnings of 95 cents per share on revenue of $554 million. This is above earnings estimates of 70 cents per share on revenue of $516 million, according to analysts polled by LSEG. Rocket Lab USA – Shares of the space company jumped around 9% after it signed a ten-launch deal with Japanese Earth observation company Synspective. Analysts polled by FactSet were expecting 82 cents per share in earnings on $1.7 billion of revenue.

Persons: Canaccord Genuity, Piper Sandler, Lennar, FactSet, Warren, Berkshire Hathaway, Buffett, —, Alex Harring, Michelle Fox, Sarah Min, Yun Li Organizations: LSEG, NextEra Energy, Patterson Companies, Occidental Petroleum –, Semiconductor, VanEck Semiconductor, Micron Technology, Qualcomm, Nvidia Locations: Monday's, Houston

☆ 2 crucial questions people in successful relationships ask, say psychologists who’ve studied 40,000 couples
▼ + stars: | 2024-06-18 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

They have also studied more than 40,000 couples who are about to begin couples therapy. Through their research they learned that just because a fight is reoccurring doesn't mean it has to be detrimental. "So when we think about fighting right, whether talking about a perpetual problem or a solvable problem, what is the biggest mistake that the disasters of relationships make?" John Gottman said at a TED Talk in April. Some problems are more situational while others seem to linger, but the healthy way to handle them is the same.

Persons: John, Julie Gottman, John Gottman Organizations: Gottman Institute, TED

☆ China now has 500 warheads and is building its nuclear arsenal faster than any other country, think tank says
▼ + stars: | 2024-06-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

China increased its nuclear warheads from 410 in 2023 to 500 this year, per SIPRI. The European think tank says China's nuclear arsenal is growing "faster than any other country." China could have over 1,000 operational nuclear warheads by 2030, per the Pentagon. AdvertisementChina has beaten its fellow superpowers when it comes to growing its stockpile of nuclear warheads, a European think tank said in a report on Monday. According to SIPRI, China has increased its nuclear warheads from 410 in 2023 to 500 at the start of this year.

Persons: —, Hans M Kristensen, Kristensen, that's Organizations: Pentagon, Service, Peace Research Institute, Business Locations: China, European, Stockholm, SIPRI

☆ Opinion | The 2024 Election Hinges on Voters Who Hate Politics
▼ + stars: | 2024-06-18 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

The biggest divide in our politics isn’t between Democrats and Republicans, or even left and right. It’s between people who follow politics closely, and those who pay almost no attention to it. If you’re in the former camp — and if you’re reading this, you probably are — the latter camp can seem inscrutable. As the 2024 election takes shape, this bloc appears crucial to determining who wins the presidency. An NBC News poll from April found that 15 percent of voters don’t follow political news, and Donald Trump was winning them by 26 points.

Persons: Donald Trump, “, Ezra Klein, She’s, John Barry Ryan, ”, I’ve, Biden Organizations: Republicans, NBC, Apple, Spotify, Amazon Music, YouTube, University of Michigan, Trump Locations: America

☆ There are 4 cities where housing is now 'impossibly unaffordable' — and they're all in the same state
▼ + stars: | 2024-06-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Four of the world's 11 "impossibly unaffordable" housing markets are in California, a study found. The study blamed land use policies for constraining housing supply and driving up prices. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In fact, four of the 11 most unaffordable housing markets in the English-speaking world are in California — and seven are in the US and Canada, a new study has found. San Jose, Los Angeles, San Francisco, and San Diego are all "impossibly unaffordable," according to the 2024 Demographia International Housing Affordability report.

Persons: — Organizations: Service, Business Locations: California, Canada, California —, San Jose , Los Angeles, San Francisco, San Diego

☆ We now know just how much money Elon Musk's X made after his takeover — and it's a lot less than before his purchase
▼ + stars: | 2024-06-18 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Elon Musk himself had said in 2023 that X's revenue was down. X revenues plunged 40% in the months after Elon Musk took over, Bloomberg reported. AdvertisementElon Musk was right: X did lose lots of revenue when he took over. X revenues plunged in the wake of Elon Musk's fraught acquisition of the social media giant, new documents obtained by Bloomberg reportedly show. According to regulatory filings seen by Bloomberg, X generated $1.48 billion in revenue in the first half of 2023 — down roughly 40% from the first six months of 2022 before Musk's takeover.

Persons: Elon Musk, —, Elon Organizations: Elon, Bloomberg, Service, Musk's, Business

☆ Hollywood is facing a dire threat: sports
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

Persons: —, Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE

☆ Sen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this country
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this countrySen. Elizabeth Warren (D-Mass.) joins 'Squawk Box' to discuss her letter to Fed Chair Jerome Powell questioning the Fed about closed door conversations with JPMorgan CEO Jamie Dimon advocating for slashing bank capital requirements in half, why she's accusing Powell of doing the financial industry’s bidding in considering changes to Basel III Endgame regulations, and more.

Persons: Email Sen, Warren, It's, Jay Powell, Sen, Elizabeth Warren, Jerome Powell, Jamie Dimon, Powell Organizations: Email Locations: Basel

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