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☆ Venture capital's new reality check: 'A ton of people looking to get out everywhere'
▼ + stars: | 2024-08-09 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +12 min

PitchBook forecast in a May report that venture firms would raise less than $200 billion in 2024, a 48% drop from the industry's peak in 2021. "They may not see any carry dollars for a long time, maybe into full deployment to the next fund," the growth-stage principal said. AdvertisementBut this type of internal competition, including deal theft and sabotage, has always existed, the growth-stage principal added. 'A ton of people looking to get out everywhere'As the market continues to correct itself, more turnover is likely. "I know a ton of people looking to get out everywhere," the growth-stage principal said.

Persons: —, Michael Moritz, Combinator, they're, Will Champagne, it's, Ellis, Rebecca Zisser, VCs, Junior VCs, there's, Champagne, I'm, inbounds, I've Organizations: Service, Business, TechCrunch, Venture, Bay Area, Big Law, Kirkland, Haize Labs, Area, Junior

☆ Yen dives as BOJ plays down chance of hikes, soothing markets
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. The yen dropped on Wednesday after an influential Bank of Japan official played down the chances of a near-term rate hike, soothing investors' concerns that a further jump in the Japanese currency could again rock global markets. The yen fell around 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. "I think it's become increasingly clear that the BOJ hawkish turn last week could be a policy error," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. The yen's decline was broad based, with the Mexican peso, New Zealand dollar and Australian dollar - all carry trade candidates - surging against the currency.

Persons: Shinichi Uchida, Uchida, Kazuo Ueda's hawkish, it's, Alvin Tan, inching, Rong Ren Goh Organizations: Bank of Japan, Asia FX, RBC Capital Markets, U.S, Eastspring Investments, New Zealand Locations: U.S, Tokyo, Japan, Asia

☆ Abnormal Security, valued at $5.1 billion amid email security push, eyes eventual IPO
▼ + stars: | 2024-08-06 | by ( Riley De León | ) www.cnbc.com time to read: +3 min

The cybersecurity software contender has more than 2,400 customers, including Maersk, Xerox and Mattel — in all, some 17% of the Fortune 500, according to the company. Cybersecurity company Abnormal Security said Tuesday it has raised $250 million in a Series D funding round that values the firm at $5.1 billion. With Microsoft surpassing $20 billion in cybersecurity revenue last year, competition has picked up among cybersecurity sector incumbents Cloudflare, Zscaler and Palo Alto Networks. Additionally, CrowdStrike veteran James Yeager was recently hired to head up public sector sales, an area that the email security vendor is targeting for growth. In March, Abnormal hired CFO Smita Sanadhya, a former executive at Microsoft Hong Kong and HP as well as startup Okta, which she helped to scale to a $2 billion public company.

Persons: Evan Reiser, Cloudflare, Reiser, Michael DeCesare, James Yeager, Smita Sanadhya, Jeff True Organizations: Twitter, Maersk, Xerox, Mattel, Fortune, Wellington Management, Greylock Partners, Menlo Ventures, Insight Partners, Security, Microsoft, Palo Alto Networks, Software, Cloudflare, CNBC, Forescout Technology, Microsoft Hong Kong, HP, Abnormal Locations: Zscaler, Palo, Exabeam

☆ Blue-collar entrepreneurs say it's getting harder to turn a profit as competition for 'sweaty startups' heats up
▼ + stars: | 2024-08-03 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +13 min

Sweaty startups are blue-collar businesses, often in unglamorous or laborious fields like septic services, car washes, or lawn care. It's what your grandparents would've just called a small business, but it was a tongue-in-cheek answer to the Silicon Valley-style entrepreneurship being glorified in culture at that time. Still, some small businesses look to private equity to scale their businesses in different markets, even if that means overhauling operations in some cases. "Small businesses partner with private-equity firms because they provide access to capital and organizational support to help companies grow," Drew Maloney, the council's president and CEO, told BI. Alejandro FlorezBoth of his parents were janitors, and when he was a senior in high school he started a small cleaning company that he grew by knocking on doors and cold-calling.

Persons: —, Patrick Hocker, Hocker, he'd, Nick Huber, would've, Huber, he's, Drew Maloney, Stan Chen, Chen, Alejandro Florez, Florez, Chris Salisbury, BuzzFeed — Salisbury, Salisbury Organizations: Service, Business, Bluebird Pest Solutions, Pest, Alpine Investors, American Investment Council, BlackRock, America Locations: Virginia, Pest, Boston, San Francisco, America, Bradenton , Florida, Jacksonville, Orlando, nuDoors, Brooklyn , New York

While most of TIAA’s clients are current or retired workers at nonprofit organizations, TIAA also offers individual retirement accounts to investors online. They didn’t own enough in-house TIAA products, according to the complaint and a recording of Parkin’s presentation. But in two asset classes, the tool’s recommendations are limited to TIAA products, according to the complaint and internal documents. Morningstar selects asset classes and investments for the TIAA tool from those chosen by a retirement plan fiduciary, it said. Paras Griffin / Getty Images fileThe recent push to increase client usage of TIAA’s advice tool appears to be succeeding.

Persons: Ted Fitzpatrick, Fitzpatrick, TIAA, “, ” Fitzpatrick, ’, Chris Tobe, Craig Parkin, Rajotte, ”, Yale, Craig Warga, TIAA hasn’t, Ted Siedle, “ TIAA, ” Siedle, TIAA’s Parkin, Parkin, Thasunda Brown Duckett, “ Thasunda, ” Parkin, ” TIAA, Adriana Macias, Morningstar, Duckett, Rowe Price, TIAA’s, Paras Griffin, it’s, Steers, ‘ Organizations: SEC, New, Cornell University, University of North Carolina System, TIAA, Vanguard, Fidelity, Systems, Yale, Yale University, Bloomberg, Getty, Brown University and Harvard, NBC News, NBC, Morningstar Investment Management, of, Morningstar, “ Morningstar Investment Management, Bank of New York Mellon, Equitable Holdings, Cohen, Steers, & $ Locations: Milwaukee, TIAA, New York, New Haven, Conn, Chicago, Atlanta

Best Banks for Avoiding ATM Fees of 2024Axos Bank: Best online bank for avoiding domestic ATM feesConnexus Credit Union: Best credit union for avoiding domestic ATM feesChase Bank: Best national bank for avoiding domestic ATM feesCharles Schwab: Best institution for avoiding international ATM feesTD Bank: Best regional bank for avoiding domestic ATM feesBetterment: Best online banking platform for avoiding domestic ATM feesCompare the Top Banks for Avoiding ATM FeesThe best banks for avoiding bank ATM fees have free regional or national ATM networks, so you won't be charged for using an ATM. Here are the best banks for avoiding ATM fees as picked by Business Insider editors in 2024. up to $500 Pros Check mark icon A check mark. You could also refer to the schedules of fees document to review ATM fees and ATM withdrawal limits." Methodology: How Did We Choose the Best Banks for Avoiding ATM Fees?

Persons: Banks, Charles Schwab, Cash, you'll, Chase, Chase Sapphire, Schwab, you've, JP Morgan Chase, Jeffrey Epstein's, it's, You'll, Mykail James, Sophia Acevedo, Tania Brown, Roger Ma, James, Sophia, Axel Springer, Education Sophia, Evelyn, Read Organizations: Credit, Chase Bank, Best, Bank, Business, Axos, Axos Bank, Credit Union, Connexus Association, Chase, Start, JPMorgan Chase Bank, Chase Sapphire Banking, Chase Sapphire ℠ Banking, Chase Mobile, Chase Sapphire, Chase Sapphire ℠, Schwab, Charles, Charles Schwab Bank, Bank Best, East Coast, TD Bank, FDIC, NBKC Bank, U.S . Virgin, SEC, Alliant Credit Union, Ally, Bank5, Bethpage Federal Credit Union, CIT Bank, Connexus Credit Union, Discover, NBKC, Salem, Service Credit Union, SoFi, TIAA Bank, MasterCard, Finance, Savings, Education, California State University Fullerton, Angeles, Personal Finance Locations: Connexus, Minnesota , Ohio, Wisconsin, Alaska, Hawaii, Puerto Rico, United States, East, East Coast, Connecticut , Delaware, Florida , Maine , Maryland , Massachusetts, New Hampshire , New Jersey , New York, North Carolina , Pennsylvania, Rhone Island, South Carolina, Vermont, Chevron, Bethpage, NBKC Bank, U.S, California

☆ How VC Stephen Hays scraped his life off rock bottom after addiction and a bipolar diagnosis to tackle mental health stigma
▼ + stars: | 2024-07-29 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +10 min

Some parents had voiced concerns about Hays' "background," he told Business Insider. In 2020, he started What If Ventures, a venture firm focused on investing in mental health startups. Hays's new public persona as a staunch mental health advocate also puts a certain pressure on him to perform his recovery — "and I hate that," he said. He wants to show people struggling with their own mental health that working to get well is good enough. Advertisement"I don't just want to destigmatize addiction and mental health issues — I want to destigmatize the journey of getting better," he said.

Persons: —, Stephen Hays, Hays, couldn't, didn't, They'd, it's, Christine, he'd, Amit Etkin, Etkin, he'll, that's, Stephen, Christopher Kim, Kim, Hays doesn't, It's Organizations: Service, Little League baseball, Business, Neuroscience, Ventures, West, Space Ventures, Atlantic City, Magazine, Deep Space Ventures, Alto Neuroscience, BI, Argosy Strategic Partners, Argosy Locations: Dallas, Texas, Atlantic, Las Vegas, Colorado, Wickenburg , Arizona

GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.

Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg

☆ Jarvis, a London fintech startup that helps simplify pensions, has raised $2.3 million using this 11-slide pitch deck
▼ + stars: | 2024-07-25 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Read previewJarvis, a London-based fintech startup in the pensions space, has raised $2.3 million in funding. Founded in 2022, Jarvis allows employees to visualize, manage, and invest in both personal and workplace pensions in different "jars." This story is available exclusively to Business Insider subscribers. "I've built my own life on the concept of freedom and I wanted to do the same for pensions with Jarvis," Royden Greaves, CEO at Jarvis, told Business Insider. Jarvis lets users with existing workplace pensions transfer their holdings to the platform, offering pre-made or custom investment options for auto-enrolled employees or self-invested personal pensions (SIPPs) in the UK.

Persons: —, Jarvis, Royden Greaves, Greaves Organizations: Service, Business, Ascension VC, Cornerstone VC, Tokio Marine Future Locations: London

☆ 3 reasons to invest in America's crumbling infrastructure instead of flashy AI winners, and the 2 cheapest sectors right now: BofA
▼ + stars: | 2024-07-25 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Traditional infrastructure might not seem as sexy as the newer AI data centers, but Bank of America believes traditional infrastructure has stronger growth prospects than AI infrastructure. The heavy focus on technology and AI has resulted in investors overlooking traditional infrastructure investment. Invest in industrials and materialsIn particular, Bank of America identified the industrials and materials sectors as the best investment opportunity within traditional infrastructure. The industrials sector trades at a relative forward PE of 0.98, and materials trades at 0.92. AdvertisementSome specific industries within those sectors are especially undervalued, such as construction materials and metals & mining.

Persons: —, there's, Savita Subramanian, it's, Reshoring Organizations: Service, Big Tech, American Society of Civil Engineers, Business, Bank of, Bank of America Government, Bank of America, Bank, Invest, Industrial Locations: North America, industrials

☆ Elon Musk is probably getting a little nervous
▼ + stars: | 2024-07-24 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTesla on Tuesday had a lackluster earnings report that revealed the electric vehicle maker once again missed investor expectations. And Elon Musk is probably a little nervous. Advertisement"I want to be clear that was in Tesla's interest, not contrary to Tesla's interest," Musk said. In Q2 earnings, Tesla reported a 7% decrease in year-over-year automotive revenue, which contributed to the company's diminished profits.

Persons: —, Tesla, Elon Musk, Musk, xAI, Gene Munster, Dan Coatsworth, AJ Bell, Musk's, doesn't, Coatsworth Organizations: Service, Business, Deepwater Asset Management, CNBC, Tesla, Reuters

☆ Grayscale's $9 billion head start in ethereum is at risk as big investors launch ETFs
▼ + stars: | 2024-07-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

With the SEC clearing the path for ETFs, Grayscale will have a boatload of rivals, and investors can go hunting for the lowest fees. Large financial firms, including Fidelity Investments, Franklin Templeton, BlackRock and Invesco, are already on the market with their own spot ether ETFs. In their first day of trading on Tuesday, spot ether ETFs collectively saw over $1 billion in volume, with JPMorgan analysts estimating net sales of $104 million. While money poured into the new offerings, the Grayscale Ethereum Trust (ETHE) saw redemptions of $485 million. watch nowIn the bitcoin ETF market, Grayscale has been struggling to handle the flood of competition.

Persons: Jakub Porzycki, Barry Silbert's, Franklin Templeton, Morningstar's Bryan Armour, Grayscale's David LaValle, LaValle Organizations: Nurphoto, U.S, Digital Currency Group, SEC, Fidelity Investments, BlackRock, JPMorgan, CNBC Locations: Invesco, U.S

AdvertisementSpeed and ease — that's how generative AI is changing the game for finance professionals. In a survey of 780 banking and capital-markets employees by Accenture Research, 62% of respondents expect generative AI to increase people's stress and burnout. "Employees with AI skills will replace people without AI skills," Andrew Chin, the chief AI officer at the $759 billion money manager AllianceBernstein, told BI. AdvertisementA data scientist at a midsize hedge fund told BI that generative AI models are a "superpower for coders." The firm's ultimate aim is to use generative AI to replicate the success of its best bankers for all advisors.

Persons: Christina Melas, Rowe Price's Sébastien, Eric Burl, Alyssa Powell, Thomas H, Lee, Keri Smith, Smith, Ken Griffin, They've, Goldman Sachs, Marco Argenti, Argenti, It's, I've, drudge, Andrew Chin, AllianceBernstein, Lisa Donahue, Donahue, Jobs, who's, He's, he'd, ChatGPT, Accenture's Smith Organizations: Bain Capital Ventures, Management, Business, Bain Capital, Man Group, Accenture Research, Finance, Wall Street, Blackstone, Sigma, Citadel, Milken Institute Global Conference, Excel, Accenture, Northern Trust, Citibank, Citi, JPMorgan Locations: New York City, New York

☆ Alphabet to invest $5 billion in self-driving car unit Waymo
▼ + stars: | 2024-07-23 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

A Waymo rider-only robotaxi is seen during a test ride in San Francisco on Dec. 9, 2022. Alphabet is again investing in its self-driving car unit Waymo — this time with $5 billion. CEO Sundar Pichai said on the earnings call that Waymo provides 50,000 weekly paid trips, primarily in San Francisco and Phoenix. In June, Waymo removed the waitlist and opened Waymo rides to all San Francisco users. "Alphabet has committed up to $5B to Waymo," Waymo CEO Tekedra Mawakana said on X.

Persons: Waymo, Ruth Porat, Porat, Sundar Pichai, Andreessen Horowitz, Cruise, Tekedra Mawakana Organizations: Securities, Exchange Commission, Plan Investment Board, Fidelity Management & Research Company, General Motors Locations: San Francisco, Phoenix, Francisco, AutoNation, Canada, Waymo, Tesla

Fidelity Rewards Visa Signature OverviewIf you're new to investing and want a hands-off way to earn (and invest) rewards from your everyday spending, the Fidelity® Rewards Visa Signature® Card is an easy starting point. Fidelity Rewards Visa Credit Card RewardsWith the Fidelity® Rewards Visa Signature® Card, you'll earn 2 points per dollar you spend on every purchase. Fidelity Rewards Visa Signature Card Benefits and FeaturesNearly all of the Fidelity Visa card's benefits come as a function of being a Visa Signature card, which includes travel benefits, extended warranty, and lost luggage reimbursement. Fidelity Rewards Visa Credit Card Annual Fee and Other CostsThe Fidelity® Rewards Visa Signature® Card has a $0 annual fee, so you won't pay anything to keep it long-term. Why You Should Trust Us: How We Reviewed the Fidelity Rewards Visa Signature CardTo review the Fidelity® Rewards Visa Signature® Card, we followed our credit card rating methodology.

Persons: you'll, Roth, —, I've, Schwab Organizations: Business Insider, Citi, Fidelity, Roth IRA, Fidelity Visa, Fidelity Cash Management, Elan Bank, Wells, Cash Locations: Sonoma County, New York

☆ How down payment assistance programs can help clear the path to homeownership
▼ + stars: | 2024-07-23 | by ( Genna Contino | ) www.cnbc.com time to read: +3 min

Two renters pose in front of their new home that they're renting from Roots, a program that helps renters invest in real estate. Then Hunnicutt found a $1,050-per-month two-bedroom apartment tied to Roots, a real estate investment trust based in the Atlanta area that aims to help renters of the properties in its portfolio build wealth toward homeownership. Will Hunnicutt with his dog Bailey in his Atlanta home that he rented through Roots, a company that helps renters build wealth by investing in real estate. As buyers continue to struggle with home affordability, experts say programs that help with down payments may be worth another look. One barrier toward homeownership is having enough savings for a down payment.

Persons: Katie Curran, Will Hunnicutt, Hunnicutt, Bailey, It's, They're, homebuyer Organizations: CNBC, SurveyMonkey, National Association of Realtors, PMI, Mortgage Locations: Atlanta, U.S

☆ This scientist who worked for Jeff Bezos and Bill Gates is now a VC funding other 'mad scientists'
▼ + stars: | 2024-07-23 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

And while he wants to tackle the world's biggest problems such as waste, impact isn't Deep Future's sole priority. Related storiesIn some ways, Deep Future's mission harkens back to Silicon Valley's roots, he said. As for Deep Future's investments, the challenge is whether the technology can be built and made cost-effective, ideally within its investment horizon of 10 years. One of Deep Future's portfolio companies, Descycle, is developing non-toxic chemicals to separate gold in electronics in landfills. Getting investors on board with mad scientistsWith Deep Future's niche, getting investors' attention has been easy, Holman said.

Persons: —, Pablos Holman, Jeff Bezos's, Bill Gates, Michael Reid, Holman didn't, Holman, Matt Mullenweg, that's, Alfred Steiner, I'm Organizations: Service, Origin, Ventures Laboratory, Business, Investors, WordPress

Index funds are a type of investment vehicle aiming to match the returns of a specific market index. "Index funds generally benefit an investor by providing diversification and relatively low fees compared to actively managed funds. Decide which index funds to invest inNow it's time to decide which index funds you want to invest in. "In this scenario, the investor would research the universe of index funds available and purchase the funds they'd like to own." Index fund investing FAQsHow do I buy an index fund on my own?

Persons: Warren Buffett, Julian Schubach, Louis, Ameritrade, Charles Schwab, you've, Schwab Organizations: Independence, Nasdaq, Nasdaq Stock Market Dow, NYSE, New York Stock Exchange, U.S, Federal Reserve Bank of St, Market, Fidelity, Vanguard, Chevron Locations: Chevron

☆ Willow Bay, Bob Iger to take controlling stake in NWSL's Angel City FC at a $250 million valuation
▼ + stars: | 2024-07-17 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Willow Bay and Bob Iger will take a controlling stake in Angel City Football Club, the world's most valuable women's professional sports team. On Wednesday, Angel City of the National Women's Soccer League announced the couple had agreed to an investment of an undisclosed amount that values the team at $250 million. The club said Bay and Iger will invest an additional $50 million in the club's future growth. Bay will serve on and have full control of the Angel City FC board, the team said. Last year, Angel City FC generated the highest revenue of any women's team in the world.

Persons: Bob Iger, Willow Organizations: Walt Disney Co, Allen & Company Sun Valley Conference, Angel City Football Club, National Women's Soccer League, Angel City FC, ACFC Locations: Sun Valley , Idaho, Willow, Angel City

☆ A founding father of Utah's VC industry is stepping back as accusations of sexual harassment surface
▼ + stars: | 2024-07-17 | by ( Melia Russell | Rosalie Chan | ) www.businessinsider.com time to read: +22 min

Eyes closed, she listened as the Mercato Partners cofounder Greg Warnock stepped into the living room of his houseboat. Before starting Mercato, Warnock bought a large stake in a chemical-distribution business and made his first few millions in the acquisition. For an aspiring investor in Silicon Slopes, Mercato Partners seemed the place to be. They say the complaints from female Mercato employees are emblematic of religious and social norms that place women in the home. Mercato Partners no longer promotes Savory Fund or Prelude on its website following an organizational shake-up.

Persons: Powell, Elizabeth Moore, Greg Warnock, Moore, Warnock, Melia Russell, Jim Dreyfous, Paul Ahlstrom, Mercato, Emma Jackson, Elizabeth Moore's, Lake Powell, Mr, Staci, McCubbins, feely, David Bateman, Bateman's, Josh James, James, machismo, David McNew, Alan Hall, Jackson, wouldn't, Matthew Ashton, something's, massages, Melissa Walred, Walred, Greg, There's, gleeful Warnock, he'd untangle, Joe Kaiser, Ryan Sanders —, Savory, Warnock's, Davis Warnock, Davis, Victor Charlie, Larry H, TMRS, Staci McCubbins, Rosalie Chan Organizations: Mercato, Business, Lambda, Mercato Partners, BI, Opportunity, Thermal, vSpring, Beehive State, Getty, Pelion Venture Partners, Miller Company, Missouri State Employees, System, Nationwide Insurance, Family Insurance, Los, Employees, Association, Saudi Aramco, Google, Facebook Locations: Utah, Mercato, Lake, Coachella, Powell, Beehive, Silicon Slopes, Salt Lake City, Cottonwood Heights, Tibet, Missouri, Texas, Los Angeles, Saudi

☆ Amazon's Prime Day a 'major' cause of worker injuries, Senate probe finds
▼ + stars: | 2024-07-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

An Amazon workers pull a cart of packages for delivery on E 14th Street on July 12, 2022 in New York City. Amazon Prime Day, the 48-hour discount blitz that kicks off Tuesday, is a "major" cause of worker injuries, according to the preliminary results of a Senate probe. The Senate's Health, Education, Labor and Pensions (HELP) Committee on Tuesday released the interim results of a yearlong investigation into Amazon's warehouse working conditions just as the company holds its annual Prime Day deals event. The report cites an internal Amazon document, titled "2021 Prime Day Lessons Learned," which states Amazon "met only 71.2 percent of its hiring target," between May and June of 2021, ending the week of that year's Prime Day event. Amazon has faced scrutiny in recent years over its workplace injury record and its treatment of warehouse and delivery workers.

Persons: Sen, Bernie Sanders, Kelly Nantel, Nantel, It's, it's Organizations: Amazon, Health, Education, Labor, Pensions, Occupational Safety, Health Administration, OSHA, U.S, Attorney's, U.S . Department of Justice Locations: New York City, Vermont, U.S

☆ Prepare for the S&P 500's 'rocket launch' to 6,000 by year's end by making these 10 investments now: Founder of multi-billion-dollar research firm
▼ + stars: | 2024-07-13 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

"The beginning of bull markets has this really incredible trajectory," Demmert said in a recent interview. AdvertisementA slew of catalysts, including investors' fear of missing out, will drive the S&P 500 to 6,000 by year's end, Demmert predicted. "This whole thing ends, eventually, very ugly, but I think that's years away — not months," Demmert said. So we start a new business cycle; new bull market. AdvertisementEconomic cycles usually go for seven to eight years, Demmert said, and this bull market began two Octobers ago.

Persons: —, James Demmert, Demmert, I'm, inflation's, there's, We're, that's, Scott Organizations: Service, Main, Research, Business, Federal Reserve, Bears Locations: Wall, Japan, India, China

☆ Sean 'Diddy' Combs hires top NYC defense lawyer Marc Agnifilo to fight possible federal sex-trafficking charges
▼ + stars: | 2024-07-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Marc Agnifilo addresses reporters in 2019 outside federal court in Brooklyn, where he represented NXIVM cult leader Keith Raniere. Timothy A. Clary/Getty ImagesAgnifilo, a former state and federal prosecutor in Manhattan, said he and co-counsel Teny Geragos are in regular communication with federal prosecutors. Combs has not spoken with prosecutors, added Agnifilo, now at Agnifilo Intrater. Alberto E. Rodriguez/Getty ImagesThe video corroborated allegations of violence in the R&B singer's lawsuit against Combs and Bad Boy Entertainment. Brafman repped Combs again in the leadup to the Ventura lawsuit.

Persons: —, Sean, Diddy, Combs, Marc Agnifilo, Pharma Bro, Martin Shkreli, Goldman Sachs, Roger Ng, Keith Raniere, Agnifilo, Cassie Ventura, There's, Timothy A, Clary, Teny Geragos, Ventura, Lionsgate's, Alberto E, Rodriguez, I'm, Roberta Intrater, Jennifer Lopez, repped, Benjamin Brafman, Uncle Benny, Brafman repped Combs, Brafman, Ben Organizations: Service, Pharma, Business, Southern, of, CNN, Bad Boy Entertainment, Adria, Times Square, Brafman, Associates, Ventura, US Locations: Manhattan, of New York, Los Angeles, Miami, Brooklyn, New York, Florida, Ventura

☆ A former OpenAI safety employee said he quit because the company's leaders were 'building the Titanic' and wanted 'newer, shinier' things to sell
▼ + stars: | 2024-07-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Read previewA former safety employee at OpenAI said the company is following in the footsteps of White Star Line, the company that built the Titanic. Was the path that OpenAI was on more like the Apollo program or more like the Titanic?" Apollo vs TitanicAs Saunders spent more time at OpenAI, he felt leaders were making decisions more akin to "building the Titanic, prioritizing getting out newer, shinier products." OpenAI did not immediately respond to a request for comment sent outside regular business hours by Business Insider. Meanwhile, OpenAI cofounder and former chief scientist Ilya Sutskever, who led the firm's superalignment division, resigned later that month.

Persons: —, OpenAI, William Saunders, OpenAI's, Alex Kantrowitz's, Saunders, Ilya Sutskever, JACK GUEZ, Kantrowitz, he's, Saunders — Organizations: Service, White Star Line, Business, Artificial, Intelligence, White Star, Apollo, NASA, BI, OpenAI, Getty, Tech, Apple, Google, Superintelligence Inc Locations: OpenAI, Russia, AFP

☆ The presidential election shouldn't influence how you invest, financial experts say
▼ + stars: | 2024-07-10 | by ( Genna Contino | ) www.cnbc.com time to read: +4 min

Financial experts, however, don't encourage making investment decisions for political reasons as markets tend to react to economic factors that politicians have no control over . Presidential election outcomes don't significantly affect market performance, but many investors still feel nervous about what this year's presidential matchup between President Joe Biden and former President Donald Trump could mean for their money. "We've got a very stable market," Curtis said. That could make your next trip pricierStill, clients visiting Curtis have expressed concerns about the idea of Trump winning the election. Dating back to 1928, the S&P 500 has returned an average 7.5% in presidential election years, compared to an average 8% in nonelection years, according to an analysis in March from J.P. Morgan Private Bank.

Persons: Joe Biden, Donald Trump, Cathy Curtis, Curtis, We've, Biden, Zers, pricier, Trump, Dan Egan, Egan Organizations: Republican, Democrat, Curtis Financial, Financial, CNBC, Nasdaq, Dow Jones, Finance, Trump, Morgan Private Bank, Federal Reserve Locations: Atlanta , Georgia, Oakland , California, J.P

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