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Russia's war economy ins't in imminent danger of collapse, economist Vladislav Inozemstev said. AdvertisementRussia may stand a better chance at sustaining its war economy than previously thought. "The people realize that the 'war economy' has substituted the anemic economic condition of the 2010s." Inozemstev said he expected Russia's economy to continue to grow in 2025 and beyond, forecasting 2%-2.5% GDP growth next year. The International Monetary Fund has said it is expecting Russia's economy to expand by 3.6% in 2024.
Persons: Vladislav Inozemstev, , Inozemstev Organizations: Service, Middle East Media Research Institute, Kremlin, Monetary Fund Locations: Russia, Russian, Soviet Union
Twitter's ex-CMO, Leslie Berland, is suing Elon Musk, saying she is owed $20 million in severance. The same week as Berland's filing, Twitter's ex-CEO got the go-ahead to proceed with a similar suit. AdvertisementTwitter's former chief marketing officer, Leslie Berland, is suing Elon Musk, saying she is owed over $20 million in unpaid severance. The documents state that a Twitter employee who was there on Bertrand's recommendation cautioned Musk against reinstating Trump in front of the advertisers, leaving him "embarrassed and angry." Related storiesBerland claims she was wrongly denied about $20 million in benefits owed to her under Twitter's policy.
Persons: Leslie Berland, Elon Musk, Twitter's, , Berland, Musk, Xavi, Donald Trump's, Parag Agrawal, Maxine Chesney Organizations: Service, Bloomberg Law, Twitter, Cannes Lions, Trump, Business, Verizon, Bloomberg Locations: California's, California, Ireland
Ukrainian soldiers told BI of their hopes, fears, and uncertainty over what Trump's victory means. Trump's election win could have a huge impact on the war in Ukraine. AdvertisementUkrainian soldiers holding back Russia's invasion woke up to an uncertain future after Donald Trump's presidential election victory on Wednesday. Olga Bigar, a Ukrainian officer, also had some optimism about Trump: "I really like his determination and steadfastness in making decisions," she told BI. AdvertisementA US veteran fighting in Ukraine, who goes by the call sign Jackie, told BI that helping Ukraine continues to be in the US' best interest.
Persons: , Donald Trump's, Vladimir Putin, Trump, Oleh, Dan Rice, Donald Trump, Jabin, Rice, Holubenko, Putin, Kim Jong Un, Kim, JD Vance, Diego Herrera Carcedo, Vitaliy, Joe Biden's, Oleksandr Pleskov, Kamala Harris, Pleskov, Olga Bigar, Bigar, Volodymyr Zelenskyy, Bogdan Zelenyi, Jackie Organizations: Service, Wednesday, Ukraine, Trump, Ukraine's Territorial Defense Forces, US, Washington, American University Kyiv, Republicans, Congress, Anadolu Agency, Getty Images Trump, Bradley, Getty, Former US Army, Kyiv Independent, Putin Locations: Ukraine, Russia, Kyiv, West Palm Beach , Florida, Europe, Ukrainian, UN
Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City. U.S. stock futures hovered near the flatline Thursday night after the S&P 500 and Nasdaq Composite hit records in a postelection rally and investors weighed the Federal Reserve's latest interest rate cut. S&P 500 futures and futures tied to the Dow Jones Industrial Average added just 0.03% and 0.05% each. The moves higher continue the market rally from Wednesday in the wake of President-elect Donald Trump's victory, during which the Dow and S&P 500 rose to their best days since November 2022. The postelection surge put all three of the major averages are on pace for strong weekly gains, with the S&P 500 up about 4.3% and the Dow higher by nearly 4%.
Persons: Dow, Donald Trump's, Jerome Powell, Scott Helfstein, Trump Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Dow, Global, Republican, Fed Locations: New York City . U.S, Thursday's
I decided to do a deep declutter in an attempt to live with less, and we got rid of 44 bags of stuff. They all helped, and we got rid of 44 bags of stuff. Three hours later, he'd removed six full bags of stuff, and we were ready to put the rest back. In the end, the art space took two days, and 12 bags were donated or thrown out. AdvertisementOnce the kids' bedrooms, art space, (and the adults' closet) were all done, we removed a whopping 44 bags of trash and donations.
Persons: We've decluttered, , Andrew Mellen, He'd, you'll, he'd Organizations: Service
US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.
Persons: Stocks, Donald Trump, David Kelly, Wall, he's, , Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's
Beazer Homes is building "zero energy," climate-friendly homes even though they're more expensive. Challenges include higher costs, market education, and appraisal practices for green homes. The project was developed by Beazer Homes, one of the largest US homebuilders. Now Beazer has to educate customers and the broader real-estate market about the value of green homes. "Zero Energy Ready" homes feature energy-efficient appliances.
Persons: Allan Merrill, , Beazer, Merrill, It's, Donald Trump, haven't, Catherine Boudreau, they're, Woody Fincham, there's, Andrew Pizor, hasn't, Beazer isn't Organizations: Service, Energy, Beazer Homes, US Department of, Zero, Appraisal, appraisers, National Consumer Law Center, Congress, EV Locations: Baltimore, decarbonize, Parkville , Maryland, Parkville, Charlottesville , Virginia
The rate dropped by 25 basis points to a range of 4.50% to 4.75%. The Fed began cutting rates in September to help boost the economy as inflation cools and the job market softens. In a September speech, Fed Chair Jerome Powell indicated that another 25-bps cut could happen before 2025 if current economic trends hold steady. Below is a breakdown of how the recent rate cuts could impact your monthly borrowing costs. The breakdown includes today's 25-bps cut and the cumulative 75-bps reduction since the Fed began cutting rates in September, as estimated by Bankrate.
Persons: Jerome Powell Organizations: Federal Reserve, Fed, Bankrate, today's, Equity Lines
Ridley Scott says the future of Hollywood doesn't worry him because he gets "overpaid anyway." AdvertisementRidley Scott said the future of Hollywood and streaming doesn't worry him because he gets "overpaid anyway." While doing press for the film, Scott shared his thoughts on Hollywood and movies that go directly to streaming. AdvertisementIt's not clear what Scott earned for "Napoleon," but Variety reported that he had a budget of $200 million. AdvertisementThe director added that he doesn't think younger audiences have the same relationship with movies as previous generations do.
Persons: Ridley Scott, Pedro Pascal, Paul Mescal, Napoleon, , Thelma, Louise, Russell Crowe, Maximus, Lucius, Scott, Joaquin Phoenix, Napoleon Bonaparte, Kyle Buchanan Organizations: Hollywood, Apple, Service, Sony, New York Times, Times, Variety
Using its patented digital fingerprint technology, ProfilePrint can rapidly analyze the identity and quality of ingredients, helping agribusinesses save money and time. The problem, he explained, is a system of multiple rounds of physical food samples exchanged between buyer and sellers, replicated across "every part of the supply chain." Machine learning means the technology analyzes food samples at a molecular level and recognizes food quality within seconds. As well predicting the quality and flavor profiles, the company's ingredient quality platform can offer their client various options when it comes to balancing quality with price. Profile Print is not alone within the still embryonic pool of food quality and AI startups.
Persons: Alan Lai, Lai Organizations: CNBC Tech, Traders Locations: Singapore, California
But over four successive election cycles — the 2018 midterms, the 2020 election, the 2022 midterms, and this year's election — Trump has steadily remade the party in his image. Related Video Chaos reigns at GOP debate as Trump skips out"This Republican Party is not the Republican Party of 2010," said Daniel Schuman, a Congress expert and the Executive Director of the American Governance Institute. While Senate GOP Leader Mitch McConnell's disdain for Trump is well known, his two most likely successors — Sens. That includes all but two of the 10 House Republicans who voted to impeach him after January 6. One proxy for this divide is the issue of Ukraine: Just over half of House Republicans voted against a more than $60 billion Ukraine aid package last year, while most Senate Republicans voted for it.
Persons: , Donald Trump's, Trump, — Trump, Daniel Schuman, It's, Paul Ryan, Mike Johnson, Ryan, Johnson, he's, Mitch McConnell's, — Sens, John Thune of, John Cornyn, Ryan Williams, Mitt Romney's, Schuman, Brent Griffiths Organizations: Republicans, Trump, Service, GOP, Republican, Republican Party of, American Governance Institute, Senate, Republican Party Locations: Manhattan, John Thune of South Dakota, Texas, Congress, Ukraine
Matt Wurnig is the creator of the online series 50 Dates 50 States. Wurnig, 28, has been on a date in every state at least twice. He told BI his favorite date spots around the country include hot air ballooning in New Mexico. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Wurnig is the creator of the online series 50 Dates 50 States, which, yes, is exactly what it sounds like.
Persons: Matt Wurnig, , Wurnig, Melissa Hobley Organizations: Service, Pew Research Center, Bismarck Larks, YouTube Locations: New Mexico, Los Angeles , New York, Miami, Dallas, North Dakota, Montana
As an American who spent six months living in Europe, I noticed lots of differences in lifestyle. I plan on taking some aspects of life in Europe back home with me. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I experienced these differences firsthand as an American traveling around Europe for six months, spending time in places like the UK, Czech Republic, France, Germany, The Netherlands, and Switzerland.
Persons: Organizations: Service Locations: American, Europe, Czech Republic, France, Germany, The Netherlands, Switzerland, States
Mortgage ratesHousing affordability has been a major issue due in part to a sharp rise in mortgage rates since the pandemic. Trump has said he'll bring down mortgage rates — even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Mortgage rates are unlikely to fall significantly, given the current climate, explained Jacob Channel, senior economist at LendingTree. Federal student loan rates are fixed, so most borrowers won't be immediately affected. But refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options.
Persons: Joshua Roberts, Matt Schulz, Trump, Jessica Caldwell, Edmunds, Trump's, Caldwell, Michele Raneri, Jacob Channel, Mark Kantrowitz Organizations: Federal, Reuters, Auto, Fed, Treasury, TransUnion, Mortgage, Association . Locations: Washington ,, Edmunds, U.S
The clock is ticking on getting Ukraine that support before Trump takes office. Trump's return to the White House could threaten US support for Ukraine. AdvertisementPresident-elect Donald Trump will be returning to the White House, and that means the clock is now ticking on getting billions of dollars in US aid to Ukraine. AdvertisementA Pentagon spokesperson told Business Insider it's on track to get the Ukraine aid out before mid-January, but it'll be a heavy lift. Kyiv has repeatedly asked the Biden administration to do so, but the White House has maintained the position that such action would be escalatory.
Persons: Biden, Trump, Trump's, , Donald Trump, it'll, Sean Gallup, George Barros, Volodymr Zelenskyy, I've, he'd, Zelenskyy, Serhii Mykhalchuk, Barros, Mark Rutte Organizations: Service, White, Pentagon, Biden, Politico, Getty, Institute for, Russian, Trump, Kyiv, NATO Locations: Ukraine, Russia, Gaza, Moscow
Donald Trump has previously said he could end the war in Ukraine in a day, but never detailed how. Trump's advisors have reportedly set out plans, including setting up a demilitarized zone. AdvertisementDonald Trump is the new US president-elect — and his advisors are laying out plans on how to end the war in Ukraine, according to The Wall Street Journal. Under that plan, Ukraine would also pledge not to join NATO for at least 20 years in exchange for continued US weapons deliveries, they said. Trump has repeatedly said he could end the war in Ukraine within 24 hours by forcing Russia and Ukraine to negotiate a peace deal — but has never detailed how he would go about it.
Persons: Donald Trump, , JD Vance, Shawn Ryan, Vance, Trump, Vladimir Putin, Volodymyr Zelenskyy, Joe Biden's, Keith Kellogg, Fred Fleitz, Fleitz, Putin doesn't, Steven Cheung, Donald Trump's, didn't, Kurt Volker, Putin, Volker Organizations: Street Journal, Trump, Service, Wall Street, NATO, UN, Ukraine wouldn't, Kyiv, National Security, Reuters, Fox News, of America, Kyiv Independent Locations: Ukraine, Trump, Russia, Russian, Germany, Mar, Lago , Florida
Starbucks' mobile app appeared to be down during the morning coffee rush on Thursday. AdvertisementSome Starbucks customers could not place orders through its mobile app on Thursday, the first day of the coffee chain's holiday menu. The message that some Starbucks app users saw on Thursday. Alex Bitter/BIDowndetector, a website that tracks website outages, showed a spike in user reports of problems with the Starbucks app around 8 a.m. Related Video Meet the Amazon warehouse workers paying the price for fast, free shippingThursday is the first day Starbucks' holiday offerings are on sale.
Persons: , Alex Bitter, chai, Gould 🖤, rinks., rian Organizations: Starbucks, Service, Business Locations: Washington ,, New York City
Peter Thiel made a "contrarian" prediction that the election wouldn't be close. Thiel has a history of making contrarian bets in his investments and business ventures. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIn September, conservative tech billionaire Peter Thiel made what he acknowledged was an unusual prediction about the 2024 election. My one contrarian view on the election is that it's not going to be close," Thiel said in September at an appearance at the All In Summit in Los Angeles.
Persons: Peter Thiel, Thiel, , it's, aren't, Kamala Harris, Donald Trump, Kamala, Trump, Sen, JD Vance, Blake Masters — Thiel, Elon Musk Organizations: Trump, Service, PayPal, Trump voters, Democratic, Republican Locations: Los Angeles, Ohio, Trump
Now, Stevenson is a published author and teaches economics through his YouTube channel, Garyseconomics. He discusses his time in Basic Underwater Demolition/SEAL training, or BUD/S, and how he was recruited. After seeing combat in Afghanistan, Iraq, and Haiti, Ryan left the Navy and worked as a contractor for the CIA. He discusses work as a spy and CIA protocol. Kenneth Valentine served as a special agent in the US Secret Service for 24 years and protected three sitting presidents, Bill Clinton, George W. Bush, and Barack Obama.
Persons: Gary Stevenson, Stevenson, Shawn Ryan, Ryan, Shawn Ryan Show, Andrew Bustamante, Bustamante, Maven Huffman, Huffman, Vince McMahon, Kenneth Valentine, Bill Clinton, George W, Bush, Barack Obama, Valentine, Donald Trump, he's, Mike Chioda's, Gary Stevenson's, Shawn Ryan https Organizations: Citibank, Business, YouTube, Navy, CIA, Central Intelligence Agency, Peace Corps, Air Force, WWE, Service, BI Locations: London, Tokyo, Canary Wharf, Afghanistan, Iraq, Haiti
Google searches for "4B movement" rose on Wednesday, as President-elect Donald Trump won the 2024 election. The South Korean feminist movement is about abstaining from sex and marriage with men. In South Korea, 4B is a response to gender-based issues like intimate-partner violence and pay gaps. Creators — mainly young women — post about abstaining from sex with men, with some saying they feel undervalued by men. His super PAC ads targeted young men, he appeared on Joe Rogan's podcast, and "Macho Man" was played at his rallies.
Persons: Donald Trump, , Kamala Harris, Roe, Wade, Trump, that's, Tarana Burke, Biyeonae, Bisekseu, Yoon Suk Yeol, Joe Rogan's, Harris Organizations: Service, America, South, Trump Locations: Korean, South Korea, korea, Hollywood, South, Korea, American
The Federal Reserve would likely respond to inflation by raising interest rates to curb demand. In an economic chain reaction, households would then pay higher interest rates on borrowing of all kinds as the Fed moves to tame that newly rekindled inflation. That led to the 30-year fixed mortgage rate rising, meaning homebuyers are on track to see higher interest rates on loans. An analysis by the nonpartisan Tax Policy Center found that Trump's policies would decrease posttax incomes by an average of $1,800 in 2025. Trump's win is also expected to influence the Federal Reserve's upcoming decisions on interest rates.
Persons: Donald Trump, , Trump, Ramping, Trump's, it's, Jerome Powell, Joseph Stiglitz Organizations: Federal, Service, Biden, US Census Bureau, Trump, Peterson, Center, American Progress, Tax Foundation, Fed Locations: China
Reporters asked Fed Chair Jerome Powell whether he would resign if President-elect Trump asked him to. Powell responded with one word: "No." Trump has been critical of Powell, but the law does not permit a president to fire a Fed official without cause. AdvertisementFederal Reserve chair Jerome Powell has no plans to leave the central bank prematurely under President-elect Donald Trump. "We don't guess, we don't speculate, and we don't assume," Powell said.
Persons: Jerome Powell, Trump, Powell, , Donald Trump, Biden, Joe Biden Organizations: Service, Federal, Market, Trump, Fed, Street, Bloomberg, Federal Reserve, Congress
Investors accuse Florida businessman Patrick Orlando of diverting millions of Trump Media shares from them. Orlando was the CEO of the blank check firm that helped take Trump Media public. AdvertisementInvestors have accused the ex-CEO of the blank check firm that helped take the parent company of President-elect Donald Trump's social media site public of stiffing them out of million of shares. Orlando, his attorneys, and attorneys for ARC Global did not immediately respond to requests for comment from Business Insider on Thursday. "Specifically, as Managing Member of ARC, Orlando conveyed roughly 46% of ARC's membership interest to Franlu in a secret transaction for zero consideration in exchange."
Persons: Patrick Orlando, Orlando, , Donald Trump's, Donald Trump, Kamala Harris Organizations: Trump Media, Service, Florida, ARC Global Investments, Trump Media & Technology Group, Acquisition Corporation, Orlando, ARC Global, Business, ARC, Belsize Ventures, Franlu, Securities, Exchange Commission, Trump Media & Technology Group Corp, SEC, Trump Locations: Florida, Orlando, Delaware's Chancery, Cayman Islands, Miami
Luckin Coffee, which has put up a strong fight against Starbucks in Asia, is looking to the US. The chain is known for its aggressive deals, unusual flavors like a Big Cheese coffee drink, and mobile ordering. Luckin versus StarbucksI started at Luckin Coffee. Aditi BharadeThe most expensive drink on the menu was an Iced Oat Shakerato listed for 8 Singapore dollars, or $6. Representatives for Luckin Coffee didn't respond to a request for comment from BI for this story.
Persons: , Brian Niccol, Niccol, Luckin, Aditi Bharade, Rachel Ruggeri, Ruggeri, It's, David Yu, Jiang, it's, Tiruchelvam, Yu Organizations: Starbucks, Service, Business District, Staff, Singapore, Luckin, BI, Bros, NYU, Aletheia Capital Locations: Asia, China, Singapore, Beijing, United States
Eli Milliman became a stay-at-home dad when his wife started a full-time job and excelled in it. AdvertisementThis as-told-to-me essay is based on a conversation with Eli Milliman, a 46-year-old stay-at-home dad in Florence, Alabama. My wife, Shannon, and I grew up together in a conservative Christian community in Utah. I told her I didn't take pride in the idea that I must be the breadwinner because I'm the man. My parents even had concerns and questioned our decision to have me be a stay-at-home dad.
Persons: Eli Milliman, , Shannon, I've, they're, we've Organizations: Service, Kroger Corporation Locations: Florence , Alabama, Utah, Oregon, Alabama
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