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☆ Billionaire CEOs said working from home made them happier. Some now want to fire workers who don't show up to the office.
▼ + stars: | 2023-08-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.

Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California

☆ Earnings this week show shoppers will spend money for value, favoring two retail stocks
▼ + stars: | 2023-08-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

A busy week of retail earnings revealed that American consumers are spending with value top of mind. This disparity signals that certain discretionary goods categories are working while others are not. TGT YTD mountain Target YTD performance Target on Wednesday reported a second-quarter that reflected weak sales along with a slowdown in discretionary spending. TJX YTD mountain TJX Companies YTD performance TJX tells a different story. COST YTD mountain Costco YTD performance Looking ahead, Costco is set to release its fiscal fourth-quarter earnings on Sept. 26.

Persons: Jim Cramer, Matthew Shay, Doug McMillon, Brian Cornell, That's, Maxx, TJX, Ernie Herrman, it's, ROSS, Ross, Jim, Jim Cramer's Organizations: Walmart, TJX Companies, Costco, National Retail Federation, CNBC, Retailers, Health, Wellness, Walmart's, Marshalls, & Beverage, Food & Beverage, Target, Ross Stores, Corbis, Getty Locations: Maxx, TJX, U.S, Teterboro , New Jersey

☆ These Club consumer stocks stand to gain as customers continue to economize
▼ + stars: | 2023-08-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Consumers looking to save money are scaling back on big-ticket discretionary purchases, while spending at Club name Costco Wholesale (COST) continues to thrive. Excluding impacts from changes in gasoline prices and foreign exchange, total company core-comparable sales were up 5% on an annual basis last month. Costco's "stronger than expected results are a signal it continues to take share in this difficult consumer environment," analysts at UBS wrote in a note. This strategy offers higher value proposition to customers, allowing the company to raise prices while still maintaining customer engagement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, BUD, Raymond James, Anheuser, Molson, Elliott, Jim Cramer's, Jim Organizations: Club, Costco Wholesale, Costco, TAG, UBS, Constellation Brands, Modelo Especial, U.S ., Anheuser, Bush Inbev, Molson Coors, TAP, Constellation, Procter & Gamble, Tide, Gillette, Atlantic, Anheuser Bush, Elliott Management, CNBC, Corbis, Getty Locations: U.S, Teterboro , New Jersey

☆ Late to book your Hamptons summer rental? You're in luck — there's still hundreds.
▼ + stars: | 2023-06-18 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +5 min

The Hamptons are facing a summer rental glut, with over 1,000 available in August as of Wednesday. Real-estate agents said an uptick in travel and lower Wall Street bonuses are behind the glut. A glut of available properties and sky-high rental prices are adding up to a slow summer rental season, worrying real-estate agents counting on tenant demand. The hot Hamptons summer rental market, it seems, has caught a chill. "I have a summer rental that's listed for $150,000 for a month and it got an offer of $80,000.

Persons: —, Dana Trotter, Trotter, Enzo Morabito, Douglas Elliman, aren't, KENA BETANCUR, Anthony Rosina, they've, Judi Desiderio, Rosina, We're Organizations: Service, Hamptons, CNN, The Agency Hamptons, Agency, Sotheby's, Town, Country, CNBC Locations: New York, New York City, Southampton, East Hampton

☆ Starbucks says it fired her for an ‘absence of leadership.’ She says it was because of her race. A jury returned a $25.6 million verdict in her favor
▼ + stars: | 2023-06-14 | by ( Danielle Wiener-Bronner Kristina Sgueglia | Danielle Wiener-Bronner | Kristina Sgueglia | ) edition.cnn.com time to read: +4 min

Phillips, who worked for Starbucks for about 13 years and managed a region of stores in the area, was fired after the the arrest of two Black men at a Philadelphia Starbucks in April 2018. The New Jersey jury returned a verdict of $25.6 million, including $25 million for punitive damages and $600,000 in compensatory damages, according to Console Mattiacci Law, which represents Phillips. The jury ruled unanimously after a six day trial, the lawyers said, noting that Phillips will also be seeking back and front pay. Starbucks said it is disappointed in the decision and is evaluating its next steps, spokesperson Jaci Anderson told CNN. A jury found in favor of a former regional director who accused the company of racial discrimination.

Persons: Shannon Phillips, White, Phillips, Jaci Anderson, Kena Betancur, “, ” Phillips, Kevin Johnson, —, Laura Ly, Zenebou Sylla Organizations: New, New York CNN, Starbucks, Philadelphia Starbucks, The New, Mattiacci, CNN, City, Getty, Partner Resources Locations: New York, Philadelphia, The, The New Jersey, City of Philadelphia, AFP

No injuries or fatalities from the highway collapse have been reported. But it remained unclear whether anyone was caught in the burning commercial tanker truck, which was carrying a petroleum-based product. The truck was still trapped under the collapsed highway Sunday afternoon, Pennsylvania Gov. Kena Betancur/AFP/Getty ImagesThe commercial tanker truck caught fire around 6:20 a.m., causing a section of the overhead northbound I-95 highway to collapse atop the truck, authorities said. “In order to accommodate travel through the city and region following the I-95 collapse, SEPTA will provide added capacity and Service.

Persons: Josh Shapiro, ”, Mike Carroll, “, ” Shapiro, Brendan Boyle, Pete Buttigieg, Buttigieg, Kena Betancur, Jeffrey Thompson, Crews, Carroll, ” Carroll, Leslie Richards, Mark Fusetti, ” Fusetti, CNN’s Jim Acosta, Derek Bowmer, Bowmer, ” Bowmer, Joe Biden, Karine Jean, Pierre, Shailen Bhatt, Brendan Riley, ” Riley Organizations: CNN —, East, Pennsylvania, Pennsylvania Department of Transportation, ”, Democrat, CNN, Firefighters, Getty, Philadelphia Fire Department, Southeastern Pennsylvania Transportation Authority, SEPTA, Fox Chase Lines, Philadelphia Fire Department Battalion, White, Federal Highway Administration, . Philadelphia Fire Department, AP Coast Guard, US Coast Guard, Coast Guard, Philadelphia Water Department, Department of Environmental Locations: Philadelphia, detours, AFP, Trenton, West Trenton

☆ Ex-Twitter janitors are suing Elon Musk's company for over $100,000 in back pay, saying they face 'extreme hardship' after being 'left jobless on Christmas Eve'
▼ + stars: | 2023-06-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

One of the janitors said she faced "extreme hardship" like rationing pills after losing healthcare benefits. Former janitors at Twitter's New York office say they're owed "hundreds of thousands of dollars in back wages" in a lawsuit filed Tuesday. The eleven plaintiffs earned around $25 to $30 an hour, and some had been cleaning Twitter's office since 2015. In January, Twitter staff spotted cockroaches at the New York office, and it suffered a toilet paper shortage, Insider reported. Twitter's New York office.

Persons: they're, Elon Musk's, Musk, Twitter's, Kena, Lucy Calderon, Manny Pastreich, Twitter, Nextgen Organizations: Twitter, Twitter's, The Guardian, Building Service Workers Protection, New, Getty, SEIU Locations: York, New York

☆ Elon Musk's private jet emitted 132 times as much carbon as the average American does in an entire year
▼ + stars: | 2023-05-02 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Elon Musk travels more by private jet than nearly anyone else in the US. His annual carbon footprint — just from flying private — is 132 times that of the average American. Musk's carbon footprint from his 171 private flights in 2022 was 132 times the size of the average US resident's total annual footprint from all activities, the report found. His private plane burned about 221,358 gallons of jet fuel and emitted about 2,112 metric tons of carbon emissions last year, the report found. It notes that Musk purchased an additional private plane last year — a $78 million Gulfstream G700, the world's largest purpose-built private jet — that's expected to replace his G50ER model.

"I'm here because Trump raped me," Carroll testified. Trump's posts mentioned two issues that Judge Lewis Kaplan had warned parties in the trial not to mention to jurors. Carroll alleges Trump assaulted her in a dressing room at the Bergdorf Goodman department store in Manhattan in or around 1996. In his first Truth Social post on Wednesday, Trump wrote, "The E. Jean Carroll case, Ms. Bergdorf Goodman, is a made up SCAM. "Just look at her CNN interview before & after the commercial break - Like a different person," Trump wrote, referring to an interview Carroll gave CNN about the lawsuit.

☆ Bed Bath & Beyond stiffed thousands of workers on severance pay
▼ + stars: | 2023-04-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Bed Bath & Beyond has been on bankruptcy watch and has been closing hundreds of stores since late 2022. Toys "R" Us and other chains that filed for bankruptcy have been criticized for failing to pay workers severance. There is no federal requirement for severance pay, although some collective bargaining agreements with unions cover severance agreements. At Bed Bath & Beyond, CEO Sue Gove is eligible for $7.1 million in severance pay and former Bed Bath & Beyond CEO Mark Tritton is suing the company for $6.8 million in unpaid severance. ‘This was our reward’Some Bed Bath & Beyond employees recently laid off in other states did not receive severance pay either, as first reported by Bloomberg.

☆ Russia's war economy isn't as resilient as reports would have you believe
▼ + stars: | 2023-04-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

That brings us to today's main story — economists say the official data coming out of Russia isn't painting an accurate picture of Putin's wartime economy. "These are the things that businesses deliver and consumers purchase in an economy, and they have been absorbing the impact. Our tracker shows a contraction of the Russian economy ahead of the official figures release precisely because we use high-frequency indicators from the private economy." Vehicle sales, imports, credit growth, home prices, and other measures all point to a much less robust regime since Vladimir Putin's war on Ukraine began. These four charts tell the story of how war has reshaped Russia over the last year.

☆ JPMorgan, H&M join Google, Meta to buy, collectively, more than $1 billion of carbon removal
▼ + stars: | 2023-04-12 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"We see Frontier's advanced market commitment as an important demand signal boost for the carbon removal market. Carbon dioxide emissions from energy production topped 36 billion tons last year, according to the International Energy Agency, with total global carbon dioxide emissions projected to have been 40.6 billion tons in 2022, according to the Global Carbon Project. So far, Frontier has spent $5.6 million buying nearly 9,000 tons of contracted carbon removal from 15 carbon dioxide removal startups that are collectively pursuing seven methods. And Living Carbon is a synthetic biology startup working on engineering natural systems to remove carbon dioxide. "However, the science is increasingly clear: Carbon removal is an increasingly necessary tool for limiting warming.

☆ Amazon Union President Chris Smalls Seen Fighting Worker in Video
▼ + stars: | 2023-04-12 | by ( Katherine Long | Jack Newsham | ) www.businessinsider.com time to read: +27 min

On the night of December 5, the president of the Amazon Labor Union pummeled another union member. Some longtime Amazon Labor Union organizers decided to begin organizing on their own, without Smalls. All three said they believe in Smalls' mission and support the goals of the Amazon Labor Union, but worry about Smalls' ability to lead. Amazon Labor Union members consoled each other after the union lost the vote at its second warehouse, LDJ5, last April. One purpose of the organization appears to be to raise funds for the Amazon Labor Union, according to its certificate of incorporation.

☆ Trump's plan to build 10 new American cites is a right-wing dream of 'trad havens for beautiful families,' the internet's favorite architecture critic says
▼ + stars: | 2023-03-23 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Architecture critic Kate Wagner says Trump's plan to build "freedom cities" is nothing new. There's a whole eco-system of classical architecture proponents on Twitter with Roman statues as their avatars who decry modernism. The order made classical architecture — think columns, marble, symmetry — the preferred style for federal buildings. Wagner says Trump's embrace of classical architecture echoes the right-wing war on modernism that began in the 1980s. "For some reason, there also emerged alongside of those advocates a group of people who started to make statements that people neurologically prefer classical architecture."

☆ Pfizer ready to launch RSV vaccines for older adults, pregnant women in US, Europe
▼ + stars: | 2023-03-09 | by ( Maggie Fick | ) www.reuters.com time to read: +2 min

PUURS, Belgium March 9 (Reuters) - U.S. drugmaker Pfizer (PFE.N) is ready to launch its respiratory syncytial virus (RSV) vaccine for both older adults and pregnant women in the U.S. and Europe later this year, executives said on Thursday. Both Pfizer and British drugmaker GSK (GSK.L) have RSV vaccines they hope to launch in the U.S. and Europe this year, pending regulators’ approval. “We are anticipating approval in both the U.S. and Europe in time for rollout in the fall,” Kena Swanson, Pfizer's head of viral vaccines research & development, told a media briefing at the company's biggest manufacturing and packaging site globally. GSK told Reuters on Wednesday that it is also ready to launch its RSV vaccine for older adults in the U.S. this year without supply constraints. GSK last year voluntarily stopped its clinical trial of its own RSV vaccine on pregnant women and is currently only pursuing the use of its vaccine on older adults, a company spokesperson told Reuters on Thursday.

☆ 3 big questions about the state of Goldman Sachs heading into its second-ever investor day
▼ + stars: | 2023-02-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

All eyes are on 200 West Street in lower Manhattan today, the global headquarters of Goldman Sachs and site of the bank's second-ever investor day. Goldman's first investor day, in 2020, included plenty of discussion about the importance of building out its consumer bank. Will new details emerge regarding the asset and wealth management division that show the business is heading in the right direction? Goldman's asset and wealth management division will likely get plenty of attention today. Speaking of David Solomon... Goldman's CEO appeared on a recent episode of the bank's podcast, "Exchanges at Goldman Sachs."

☆ A leaked Google memo compared it to slime mold
▼ + stars: | 2023-01-17 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +5 min

It's like the start of a joke: What do Google and slime mold have in common? A lot, says a memo from an ex-Googler comparing the org to a "slime mold." (A key difference: Stanford grads aren't desperate to intern at a slime mold.) But with ChatGPT setting off alarm bells inside and outside the org, Google should probably move faster and with more intention than slime mold. The most memorable part of the memo compares Google's bottom-up organizational structure to a "slime mold," highlighting how both Google and a slime mold can work independently but still come together to solve complex problems.

☆ Here's what Black Friday sales tell us about the retail sector — and our top pick
▼ + stars: | 2022-11-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

The holiday shopping season got off to a solid start over the weekend, as Black Friday's online sales beat expectations and started to build some much-needed momentum for the retail sector. According to Adobe's online sales tracker, consumers shelled out a record $9.12 billion shopping online on Black Friday. In another early look report, traffic on Black Friday at brick-and-mortar retail stores rose about 3% over 2021, according to retail tracker Sensormatic, which attributed the rise to increased promotional activity and "favorable in-store experiences." The analysts point out that this year's holiday shopping calendar is one day longer than in 2021. Bottom line With holiday shopping underway, we continue to like off-price retailers in these trying times.

☆ Walmart, Best Buy, Trader Joe's and other retailers will be closed on Thanksgiving this year — see the list
▼ + stars: | 2022-11-23 | by ( Ann Matica | ) www.businessinsider.com time to read: +9 min

Stores like Walmart and Best Buy will be closing their doors on Thanksgiving again this year. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. AppleREUTERS/Alyssa PointerApple stores located in the US will be closed this Thanksgiving, according to a company spokesperson. NordstromJeff Greenberg/Contributor/Universal Images Group Editorial via GettyNordstrom will not be opening its doors for business this Thanksgiving, according to Forbes. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.

☆ Retailers are starting to charge fees to return stuff you bought online. Here's why free returns may be a thing of the past — and how you can avoid getting charged.
▼ + stars: | 2022-11-19 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The easiest way to avoid paying a return fee is to bring your items back to the store in person. Here's how we got here, which retailers are changing their tune, and what shoppers can do to avoid paying for returns. Which means retailers are losing, on average, millions of dollars every year by letting you return your unwanted goods for free. Some companies have taken a different approach by offering free returns only to its most loyal shoppers. Translation: Retailers are hoping something else will catch your eye when you come into the store to make your return.

Christopher Gregory/Getty ImagesDonald McGahn, Trump campaign counsel: I was at the top. Trump's 2016 campaign aides said they paid about 50 people, including part-time actors, to appear as supporters for his 2016 campaign announcement. Corey Lewandowski, Trump campaign managerCorey Lewandowski: I called my wife just as we were getting onto the plane. Stuff that would be from Mars on any other campaign was perfectly normal for the Trump campaign. Mark J. Terrill/AP photo Show less Trump at the Republican National Convention while Cruz speaks on July 20, 2016.

☆ Twitter insiders are getting more worried that the site is at massive risk of crashing under Elon Musk's reign
▼ + stars: | 2022-11-15 | by ( Kali Hays | Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Thousands of Twitter employees have been laid off, and Twitter cut costs in infrastructure. Twitter is already under strainA big test for Twitter will be the FIFA World Cup, which kicks off this weekend. In 2018, Twitter boasted its "massive role" in World Cup fandom that year and live matches, which drove 115 billion views of tweets with the World Cup hashtag. The tool was affected by Musk's decision on Monday to turn off the many "microservices" at Twitter, a current employee said. But convincing people to return to the chaos under Musk has been a tough sell, two current employees said.

☆ Degrowth: A dangerous idea or the answer to the world's biggest problems?
▼ + stars: | 2022-11-13 | by ( Julia Horowitz | ) edition.cnn.com time to read: +10 min

“An innocent 2 or 3% per year, it’s an enormous amount of growth — cumulative growth, compound growth — over time,” said Giorgos Kallis, a top degrowth scholar based at the Universitat Autònoma de Barcelona. Action Press/ShutterstockThe UN’s Intergovernmental Panel on Climate Change recently cited degrowth in a major report. Investment bank Jefferies said investors should consider what happens if degrowth gathers steam, noting “climate-anxious” younger generations have different consumer values. She’s criticized “fairy tales about non-existent technological solutions” and “eternal economic growth.” And she’s touched on another point degrowthers raise: Is our current system, which has produced rampant inequality, even working for us? Gates, the Microsoft co-founder who’s prioritized investing in climate innovations, admits that overhauling global energy systems is a Herculean task.

☆ Walmart, Target, Best Buy, and at least 15 other retailers will be closed on Thanksgiving this year — see the list
▼ + stars: | 2022-10-21 | by ( Ann Matica | ) www.businessinsider.com time to read: +8 min

Retailers like Walmart and Target are closing their stores on Thanksgiving Day again this year. The following year, Target followed suit, announcing it would be closed on Thanksgiving for good. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. While a small number of employees still work on Thanksgiving Day to keep things operating smoothly, they all receive holiday pay, according to Target. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.

☆ The era of free returns may be coming to an end. Here's why retailers have started charging return fees – and how you can avoid them.
▼ + stars: | 2022-10-14 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

Some retailers have started charging customers a fee to ship back their returns. The easiest way to avoid paying a return fee is to bring your items back to the store in person. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThe era of free returns may be coming to an end. Here's how we got here, which retailers are changing their tune, and what shoppers can do to avoid paying for returns. Some companies have taken a different approach by offering free returns only to its most loyal shoppers.

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