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Read previewThe world of luxury real estate might seem like a place where deals are plentiful, transactions are swift, and satisfaction is guaranteed. "I wanna be free to garden and travel and not have to worry about the house — but I'm not taking nothing," Morgan told Curbed. "A lot of luxury buyers may already have a primary home, so maybe they're looking for a new investment," StreetEasy Senior Economist Lee said. AdvertisementThat's partly why more luxury buyers are increasingly considering renting out their homes rather than selling them, he added. Concierge AuctionsLee noted another factor contributing to the difficulty of selling luxury properties: the high costs associated with their maintenance and upkeep.
Persons: , Kenny Lee, Sonja Morgan, John Adams Morgan, Morgan Chase, Morgan, Curbed's Bridget Read, I'm, Michael Jordan, There's, Nile Niami, Richard Saghian, Ron DeSantis, Lee, canalso, It's Organizations: Service, Business, Housewives, New, Fashion, Florida Gov, Morgans, Yorker Locations: New York City, New York, Chicago, Los Angeles, Upper Eastside
New York CNN —OpenAI CEO Sam Altman and his husband have become the newest billionaires to sign the Giving Pledge, a charity that encourages the ultra-rich to donate their wealth to philanthropic causes. Bloomberg reports that Altman is worth at least $2 billion, with much of his wealth drawn from startup investments, including a sizable investment in Reddit. The pledge isn’t a legally binding contract, but more of a moral commitment. She recently resigned from the Bill & Melinda Gates Foundation earlier this month following her divorce from Bill. As part of her divorce agreement, she received $12.5 billion from the Gates Foundation for her work upon her resignation.
Persons: Sam Altman, Altman, Oliver Mulherin, Warren Buffett, Melinda French Gates, Gates, Melinda Gates, Bill Organizations: New, New York CNN, Bloomberg, Melinda Gates Foundation, Gates Foundation Locations: New York, Reddit, OpenAI
Five New Hotels and Spas Built for Bathing
  + stars: | 2024-05-28 | by ( Gisela Williams | ) www.nytimes.com   time to read: 1 min
In the ever-expanding wellness world, one of the latest trends is actually one of the oldest: soaking in, and sometimes drinking, therapeutic waters. In ancient Greece, physicians, including Hippocrates, prescribed mineral-rich baths to treat everything from skin diseases to insomnia. (According to one theory, the word “spa” is an acronym of the Latin phrase “sanus per aqua,” meaning “health by water.”) The practice has also been employed in Asia since at least the sixth century A.D., when nomadic Buddhists are said to have brought the concept of onsen (inns and bathhouses built around natural geothermal pools) to Japan from the Korean Peninsula. Now, with various forms of hydrotherapy, such as cold plunges and steam saunas, making a comeback, wellness entrepreneurs are debuting properties centered on bathing. Here, five places to take a dip.
Persons: Hippocrates Locations: Greece, Asia, Japan
How long this trend will last is unclear, though it's clear a lot will depend on the direction of interest rates. This dynamic isn't surprising given a high interest rate environment that has pressured consumers. "Elevated interest rates are causing customers to defer their large discretionary projects," UBS analyst Michael Lasser said. "This means that a recovery should be robust as interest rates move lower." "Existing home sales also continue to be a material headwind to remodel activity as long as interest rates remain relatively high," Badishkanian said.
Persons: Richard McPhail couldn't, McPhail, Marvin Ellison, Bradley Thomas, Greg Melich, it's, Michael Lasser, Melich, bode, Wolfe, Greg Badishkanian, Badishkanian, Edward Decker, KeyBanc's Thomas, Ellison, Lowe's, Thomas, Lowe's Ellison Organizations: Home, Federal Reserve, Depot, CNBC, UBS, Home Depot, Wolfe Research, Lowe's, Pro, FactSet Locations: Lowe's, Friday's
So in 2016, Badran set up her own tour company, Wander with Nada, to “show a different side of Dubai” to travelers. Her bespoke private tours are designed to suit the interests of each visitor, but her favorite itinerary is Dubai’s “old town,” a group of small neighborhoods around Dubai Creek where the city began and Badran spent her childhood. Badran leads me through the narrow alleys around the Dubai Old Souk, home to stores run by Indian-origin families. Stores in Old Dubai Souk. “Dubai is about opening your mind,” Badran says, “and embracing this diversity that makes it unique.”
Persons: Nada Badran, Badran, , , Nada, Rebecca Cairns, Al Maktoum, Sheikh Mohammed bin Rashid Al Maktoum, Al Talli, There’s, , it’s, ” Badran, Al Shindagha, Al, Djamel Boussaa, ” Boussaa, hasn’t, Rashid Haghaght, Al Karama, ” “ Organizations: CNN, , United Arab Emirates, Dubai, Heritage, UNESCO, Al Shindagha, Trading Locations: Florence, Dubai, The, Arabian, “ Dubai, , Rome, Athens, Edinburgh, UAE, Oman, today’s Iraq, Bani Yas, Al Shindagha, Suadna, South, West Asia, Al, Saudi Arabia, Al Fahidi, Jordan, Deira, Isfahan, Old Dubai, Abu Dhabi, Sharjah, Al Rigga, Souk, Old Dubai Souk, Jebel Ali, Iran, India, China
CNN —Filmmaker Payal Kapadia made history Saturday, as she became the first person from India to clinch the prestigious Grand Prix at the 77th Cannes Film Festival, the second highest prize after the Palme d’Or. It is the first Indian movie in three decades to compete in Cannes’ main competition. “Please don’t wait another 30 years to have an Indian film,” she said to the audience. “Indian stars shining bright… These women have scripted history, and inspired the entire Indian film fraternity,” he wrote on the platform. In 1947, filmmaker Chetan Anand took Cannes’ top prize for his film “Neecha Nagar,” becoming the only Indian to win the accolade.
Persons: Payal Kapadia, Palme, ” Kapadia, Greta Gerwig, Lily Gladstone, , Narendra Modi, ” Rahul Gandhi, India’s, Anasuya Sengupta, , Chhaya, Divya Prabha, Stephane Cardinale, Corbis, Hridhu Haroon, Kartiki Gonsalves, Chetan Anand, Neecha, Kapadia Organizations: CNN, Prix, Cannes Film, Cannes, Indian National Congress, Grand, “ Salaam, Hollywood, Cannes ’ Locations: India, Mumbai, Cannes, , “ Salaam Bombay, Kani, Indian
And I think if somebody doesn't fix the problem, we could be gone," Malcolm Collins previously told BI in 2022. Malcolm Collins resumed his conversation with the stunned reporter after telling his child: "I love you but you gotta be nice in restaurants. Related storiesSoon afterward, the episode went viral on X — the platform owned by Elon Musk, whom Malcolm Collins was incidentally gushing over moments before striking his toddler. This is all to say that yes, 100%, Torsten was pushing boundaries and not acting unintentionally," Simone Collins wrote. AdvertisementOver the phone, Malcolm Collins told Business Insider that he "bopped" his son on the nose to jar him, not to hurt him.
Persons: Malcolm, Simone Collins, Malcolm Collins, Jenny Kleeman, Elon Musk, Christ, Torsten Savage, Torsten Organizations: Service, Business, Guardian, Elon, CNN Locations: Pennsylvania
When South Africans vote Wednesday, an unhappy combination of rampant corruption, soaring joblessness, crippling power cuts and feeble economic growth will likely be top of mind. Black South Africans, who make up 81% of the population, are at the sharp end of this dire situation. ‘Elite enrichment’Under apartheid — and colonial rule before that — Black South Africans were violently oppressed and denied many basic human rights. Millions of South Africans still live in such informal settlements. “The poster child of this is the electricity sector.”For much of last year, South Africans were without power for at least some portion of the day.
Persons: , Nelson Mandela’s, , Cyril Ramaphosa, Leon Sadiki, BEE, Moeletsi Mbeki, Thabo Mbeki, White, , Tshediso Matona, Anders Pettersson, Black, , Kganki Matabane, Matthew Parks, Matona, Mbeki, Ricardo Hausmann, Jacob Zuma, Haroon Bhorat, Michele Spatari, ” Bhorat, hasn’t, ANC “, Zuma, Ramaphosa, Cas Coovadia, Hausmann Organizations: Johannesburg CNN, National Congress, ANC, World Bank, Oxford Economics, Harvard University, Democratic Alliance, Bloomberg, Getty, South African Institute of International Affairs, Wits University, CNN, , BBEE, Black Business Council, South African Trade Unions, Harvard’s, University of Cape, South Africa’s Free, International Monetary Fund, Fitch, IMF, JPMorgan, Shell, Unilever, Business, Business Unity, Harvard Growth Locations: London, Johannesburg, Sudan, Africa, Alexandra, South Africa, Leon, Isipingo, KwaZulu, Natal, South, , University of Cape Town, loadshedding, Namahadi, Frankfort, Business Unity South Africa
How to begin investingA simple way to get started is by purchasing low-cost index funds, Sethi says. Index funds track market indexes like the S&P 500, which follows the stock performance of around 500 large U.S. publicly traded companies, such as Microsoft, Apple and Nvidia. To get started, you'll need to open a brokerage account, traditional IRA, Roth IRA or other investment account. But don't let your funds simply sit in your brokerage account. You'll need to go one step further and decide which funds you'd like to invest in.
Persons: Ramit Sethi, Rich, You've, Sethi, Roth, you've Organizations: CNBC, U.S, Microsoft, Apple, Nvidia, Roth IRA
The 10 books the rich will be reading this summer
  + stars: | 2024-05-26 | by ( Robert Frank | ) www.cnbc.com   time to read: +11 min
That's why J.P. Morgan Private Bank, every May, releases its summer reading list, often serving as a book club for billionaires. This year marks the 25th anniversary of the list, now called the J.P. Morgan Summer Reading List. The 10 books are carefully curated to match the tastes and preoccupations of J.P. Morgan's wealthy clients. It also helps with client events, since authors on the list often agree to do special dinners or speaking events for J.P. Morgan clients. Authors love being on the list as well since J.P. Morgan buys thousands of books to hand out and since clients often refer the books to others.
Persons: Robert Frank, Today's, Alicia Keys, Swizz Beatz, J.P, Morgan, Darin Oduyoye, Oduyoye, Gary White, Matt Damon, Charles Duhigg, Jonathan Haidt, Haidt, Kasseem Dean, , Gordon Parks, Michel Basquiat, Lorna Simpson, Odili Donald Odita, Kennedy Yanko, Kimberli Gant, Salman Khan Salman Khan, Jack Daniel, Fawn Weaver, Daniel's, Daniels, Weaver, Joshua Robinson, Jonathan Clegg, Robinson, Clegg, Melinda Stevens, Issy von Simson, Tabitha Joyce, Fortunato, Adam Pearson, Fortunato Chocolate, Laura Mae Martin, Laura Mae Martin —, Martin, Jake Gyllenhaal, Greta Caruso, Tony, Damon Organizations: Morgan Private Bank, Morgan, Reading, Wealth Management, J.P, Giants, Art, Phaidon, Brooklyn Museum, Education, Khan Academy, Wall, Mercedes, Nacional, Google, Solutions, JPMorgan, Manhattan Company Locations: Water, Lynchburg , Tennessee, America, United States, Croatian
Shop at Walmart What we like Check mark icon A check mark. Local dimming for excellent contrast controlCheck mark icon A check mark. Shop at Mattress FirmFor a full breakdown of mattress deals, check out our guide to the best Memorial Day mattress sales. Shop at Amazon What we like Check mark icon A check mark. Shop at Amazon Shop at Kohl's What we like Check mark icon A check mark.
Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy
However, this criteria leaves low-income households who don't qualify relying on thinly stretched grocery budgets, food pantries, or employer meal discounts. Many ALICEs worry their family will go hungry, but they're running out of options to put food on the table. AdvertisementKelley also said she doesn't live near many food pantries and has to drive long distances to reach a grocery store or Walmart. AdvertisementDo you live paycheck to paycheck? Are you open to sharing how you afford food, housing, and other expenses?
Persons: , Cherie Tobias, Tobias, She's, ALICE —, she's, ALICE, Melinda Binkley, Binkley, Lisa Kelley, Kelley, Melissa Hedden, Hedden, it's, isn't Organizations: Service, Business, SNAP, Cincinnati, Walmart, BI Locations: Applebee's, Hastings , Michigan, Stillwater , Minnesota, Wilmington , North Carolina
To me, one unexpected food is at the top of the list of traditional ingredients: honey. On Ikaria, it's considered one of the island's secret ingredients for longevity, and many Ikarians start their day with a spoonful. When I'm in the States, I shop for Greek honey either in local Greek and Middle Eastern food stores or online. I stir it into herbal, green and black teas and use it a lot in smoothies with Greek yogurt. Sometimes I mix a spoonful of Greek honey into a little sparkling water and add some mint or citrus slices for a refreshing homemade soda.
Persons: , Honey, it's, It's, Diane Kochilas, butters, dill Locations: Greece, Dijon, Crete, marinades
Opinion | Debating the Best Way to Fix Social Security
  + stars: | 2024-05-26 | by ( ) www.nytimes.com   time to read: +1 min
To the Editor:Re “Want to Fix Social Security? The Well-Off Must Accept Smaller Checks,” by Peter Coy (Opinion, nytimes.com, May 13):I find it maddening that the only solution to the Social Security Trust Fund difficulties offered by conservatives is reducing benefits. There are a number of acceptable increases that could solve the funding problems of Social Security and Medicare. Let me suggest a few: The Social Security tax stops at a relatively low income level, $168,600 annually, this year. Speaking of all of a person’s income, why is it that only “earned” income is taxed for Social Security?
Persons: Peter Coy, stiffs Organizations: Social Security Trust Fund, Social Security
Top finance officials from the world’s advanced economies moved toward an agreement on Saturday over how to use Russia’s frozen central bank assets to aid Ukraine and warned against China’s dumping of cheap exports into their markets, aiming to marshal their economic might to tackle twin crises. The embrace of more ambitious sanctions and protectionism came as finance ministers from the Group of 7 nations gathered for three days of meetings in Stresa, Italy. The proposals under consideration could deepen the divide between the alliance of wealthy Western economies and Russia, China and their allies, worsening a global fragmentation that has worried economists. Efforts by the Group of 7 to influence the two powerful adversaries have had limited success in recent years, but rich countries are making a renewed push to test the limits of their combined economic power. In a joint statement, or communiqué, released on Saturday, policymakers said they would stay united on both fronts as geopolitical crises and trade tensions have emerged as the biggest threats to the global economy.
Organizations: Group Locations: Ukraine, Stresa, Italy, Western, Russia, China
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Carl spearheaded their financial independence journey after discovering blogs like "Get Rich Slowly" and "Mr. Money Mustache" around 2010. He likens his financial independence journey to "a death march" — and has regrets. Jensen, who has done seven 'live-in flips,' chose to do most of the renovations himself. Advertisement"The whole point of financial independence is to increase your happiness and live a better life," he said.
Persons: , Carl Jensen, Mindy, Carl, they've, Jensen, We've, It's Organizations: Service, Business
Rising unemployment in 21 states points to a recession later this year, Nancy Lazar says. AdvertisementJob markets in nearly half of US states are flashing red, signaling a recession will hit by the end of this year, one expert warned. Nancy Lazar, Piper Sandler's chief global economist, told Business Insider that unemployment has risen significantly in 21 states. Specifically, three-month average unemployment has increased by at least 0.5 percentage points from its low over the last 12 months in all 21 states. This story is available exclusively to Business Insider subscribers.
Persons: Nancy Lazar, Piper Sandler's, , Piper Organizations: Service, Business Locations: California, Illinois
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA fence in California is catching eyes not for its extravagance or scale, but for its playful defiance against a city ordinance. This story is available exclusively to Business Insider subscribers. Panni told Business Insider. According to Constable, Borges also mentioned that he was in favor of the city getting rid of some ordinances, including Title 17.
Persons: , Etienne Constable, Hanif Panni, Panni, Hanif, @hanifwondir Constable, Constable, I've, I'm, Nick Borges, Borges, We're, KSBW Organizations: Service, Business, Seaside, The Washington Post, Police Locations: California, Seaside, Coast, San Francisco
CNN —Three bodies have been recovered after a landslide in Papua New Guinea, local officials told CNN on Saturday, adding that the death toll was likely to rise to a “significant” total. Three bodies have so far been recovered, but “we are expecting the number to be significant,” Sandis Tsaka, provincial administrator of Enga province, told CNN. More than 100 are believed to be dead, Janet Philemon, caretaker and national treasurer of the Papua New Guinea Red Cross Society, previously told CNN. People carry bags in the aftermath of a landslide in Enga Province, Papua New Guinea, on May 24, 2024. A Pacific nation home to around 10 million people, Papua New Guinea is rich in resources.
Persons: Sandis, Janet Philemon, Tsaka, ” Serhan Aktoprak, That’s …, , Andrew Ruing Organizations: CNN, Papua New Guinea Red Cross Society, Humanitarian, CARE Australia, International Organization for Migration, , Reuters CARE Australia Locations: Papua New Guinea, Kaokalam, Port Moresby, Enga, Enga Province
Younger Americans are finally outspending baby boomers, former Wall Street bank analyst Meredith Whitney recently noted. That's an encouraging sign for the US economy, which most economists believe is healthy, though some bearish prognosticators have serious doubts. There are several possible explanations for these findings and numerous takeaways from them, the "Oracle of Wall Street" said. However, young Americans' spending power shouldn't be discounted, as Whitney suggested that they command relatively high salaries since they attend college at higher rates. A continued economic expansion would be especially crucial for Gen Zers and millennials, who are entering the workforce or establishing their careers.
Persons: , Meredith Whitney, That's, Whitney, Zers, relaunching, boomers, it's, Gen Zers Organizations: Service, Business, Meredith Whitney Advisory Group, Target, Starbucks, BI, Walmart, American, American Express Locations: Street
Some housekeepers in parts of Florida are earning $150,000 salaries, CNBC reported. Real-estate prices in the Sunshine State have surged as millionaires flock to the area. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementExperienced housekeepers in parts of Florida are enjoying huge salaries of between $120,000 to $150,000, CNBC reported. Demand for such positions has surged in areas like Palm Beach as the rich continue to flock to Florida from high-tax states such as New York.
Persons: Organizations: CNBC, Sunshine State, Service, housekeepers, Business Locations: Florida, nannies, New York
Pope Francis opens the "Holy Doors" at St. Peter's Basilica to mark the start of the Jubilee Year of Mercy. Now the hope is to have the line’s showcase Piazza Venezia stop, featuring an eight-story underground museum, ready in 10 years, according to engineer Andrea Sciotti, who is in charge of the metro museum complex. Each will be placed exactly where it was found inside the metro museum, which is being dug some 85 meters (280 feet) deep, encompassing eight stories below the modern city of Rome. The Venezia station museum stop is not the only treasure on the new line. In 2025, the new Colosseo-Fori station, complete with a four-level underground museum to showcase artifacts including 25 archaic wells unearthed when it was built, will also open after activation tests, meant to begin in October, are completed.
Persons: Rome, it’s, wasn’t, Pope Francis, Mercy, VINCENZO PINTO, Emperor Hadrian’s, Andrea Sciotti, Jesus Christ, , ” Sciotti, Emperor Hadrian's, Stefano Montesi, Sciotti, It’s, Organizations: Rome CNN —, San, Vatican, AFP, Piazza Venezia, CNN, Corbis, Roman, Palazzo Venezia, Colosseum Locations: Rome CNN — Rome, San Giovanni Cathedral, Peter’s, St, AFP, Rome, San Giovanni, Italy, London ., Venezia
New York CNN —Buying or selling a stock is about to get a lot snappier starting next Tuesday. But that doesn’t mean it’ll get smoother, at least right away — and some financial firms are preparing to handle any possible bumpiness. Clearinghouses, which sit between buyers and sellers, collect margins from traders as evidence that they can afford to make the transaction. Baird has had a T+1 committee in place since last summer to ensure such hiccups don’t happen, Lee said. “The existing two-day period to settle trades exposes investors and the industry to unnecessary risk and is ripe for change,” Robinhood CEO Vlad Tenev said in a February 2021 release.
Persons: , That’s, ” Gary Gensler, , Rich Lee, Baird, Lee, Reddit, Vlad Tenev, Max, Gregory Wallace, Brian West, Mike Whitaker, ” “, ” Whitaker, Read, Meta, that’s, Clare Duffy, Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI Organizations: CNN Business, Bell, New York CNN, Securities and Exchange Commission, Employees, GameStop, AMC Entertainment, AMC, Robinhood, Investors, Boeing, FAA, Federal Aviation Administration, Wolfe Research, ABC, Microsoft, Meta Locations: New York, OpenAI
A doctor said healthy food plans can help address high healthcare costs and chronic illness rates. Providing personalized recommendations for healthy food — along with information on how to prepare it and the resources to afford it — is fast becoming a trend in preventive healthcare. Healthy food can be hard to access and may not always fit the culinary traditions and eating habits people grew up with. "People think that a healthy diet has to cost more, a lot of the staples of a healthy diet are very inexpensive," he said. Cruciferous veggies are some of the most nutritious foods because they're high in antioxidants, which may help protect against cancer.
Persons: , Dexter Shurney, Shurney, Maya Garcia, who'd, Garcia, I've, they've, it's, Green, Cruciferous, we're, chia Organizations: Healthcare, Service, US Department of Health, Human Services, SNAP Locations: Foodsmart, Chicago
"He seemed like the perfect tenant until he turned into a nightmare," Sriram told the outlet. When confronted, Jarzabek denied subletting the property, but Sriram found listings for it on Airbnb, the Times reported. AdvertisementInitially, the Airbnb account was hosted by someone named Rich Jacobs. Sriram told the Times she eventually resorted to showing up at the property to warn guests about the situation. According to the Times, Jarzabek stopped paying rent after Sriram filed the eviction notice.
Persons: , Nikeeta Sriram, Sriram, Nicholas Jarzabek, Jarzabek, Rich Jacobs, Monthier, Airbnb, Jacobs, Nick Diver, Diver Organizations: Service, Los Angeles Times, The Times, Business, Times, Police, Los Angeles Superior Court Locations: Angeles, United Kingdom, Los Feliz, LA, London, Airbnb
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