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Kave and fellow American ex-pat Jennifer Crain are the co-founders of Abricot, a cocktail bar in Paris' 10th arrondissement. The bar has a small staff: three hourly employees and three contract employees. A mutual connection virtually introduced Kave and Crain shortly after, and the pair started expanding Crain's idea for a Parisian cocktail bar. They found a location and named their business Abricot, which is French slang for female genitalia. The delays ate up most of the initial investment, Crain says, as Abricot paid rent for over a year before it opened.
Persons: Allison Kave, Kave, she'd, Jennifer Crain, Crain, Abricot Organizations: Abricot, CNBC, Crain, Employees Locations: U.S, Paris, San Francisco, Austin , Texas, Brooklyn , New York, Brooklyn, crowdfunding, France, Europe
The dark side of the 2024 Paris Olympics
  + stars: | 2024-08-06 | by ( Natalie Musumeci | ) www.businessinsider.com   time to read: +11 min
Read previewAs the 2024 Olympics Games plays out in Paris, some nonprofits are warning of a dark reality looming over the sporting event. Wijeyakumar said Rahab's Daughters had distributed pamphlets ahead of the Paris Olympics at a local refugee camp. Rahab's Daughters has identified labor and sex trafficking occurring mainly within the manufacturing, construction, retail, and hospitality industries in Paris. The US National Human Trafficking Hotline explains on its website, however, that human trafficking is "notoriously underreported." These figures are based on interviews with survivors, reports Rahab's Daughters has received, and data it has collected from online ads.
Persons: , Sam Wijeyakumar, Rahab's, Wijeyakumar, Lauren Hersh, hadn't, Hersh, William Pinzón, Reyes, Jonathan Machler, Airbnb, Mark Godin Organizations: Service, Paris Games, Business, Volunteers, BI, Olympic, Paris, Labor, US Department of State, State Department, Olympics, National Institute of Justice, US Department of Justice, Coalition, CAP, Paris Olympics Locations: Paris, US, Poland, Germany, France, London
Many will remember, however, that Biles faced a very different battle during the last Olympics: her mental health. Related stories"What some people don't know is that not treating your mental health can lead to different conditions," she said. However, mental health leave isn't accessible for many Americans. Goehner said that most companies do not allow paid mental health leave without written permission from a healthcare professional. However, she said, small, incremental lifestyle changes can improve mental health in the workplace.
Persons: , Simone Biles, She's, she's, Biles, Covid —, belittled, shouldn't, JD Vance, Janna Koretz, Ana Goehner, Simone, Goehner, Andy Cheung, Koretz Organizations: Service, Olympics, Business, NBC, Workers Locations: American
Many emerging brands sell and advertise on Amazon to boost sales and attract new customers. But Kate Assaraf, founder of hair care brand Dip, says she has no plans to take that path. She's one of a chorus of small business owners who find selling on Amazon challenging. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But Kate Assaraf, the founder of hair care brand Dip, said she's resolved not to sell her products there.
Persons: Kate Assaraf, , she's Organizations: Service, Business
Inside the sole unit without air conditioning at Mississippi’s largest prison, inmates hang wet sheets from their cell ceilings to dampen the air and lay drenched towels strategically across their bodies. It remained unclear how severe the temperatures inside Unit 29 have been this summer. “But if they need to have air conditioning, they ought to have air conditioning. Lawmakers in Texas and other states without universal air conditioning have balked at the cost of installing it. At Parchman, inmates said heat is but one factor that leaves them feeling forgotten.
Persons: , Parchman, Jay, Yo Gotti, , Burl Cain, MDOC, Roc, Jordan Siev, Reed Smith, Marcy Croft, Department’s, Tate Reeves, Otis Anthony, Cain, ” Anthony, Brown, Nicole Montagno, ” Montagno Organizations: Mississippi, Penitentiary, U.S . Justice Department, Justice Department’s Civil Rights Division, Justice Department, of Corrections, Mississippi Department of Corrections, Justice, Mississippi Today, NBC News, Mississippi State, MJ, Republican Gov, Democratic, State Rep, Democrat, Initiative, Harvard, Lawmakers Locations: Parchman, Mississippi, New York, South, Texas, Boston, U.S
Less discussed, however, is a parallel crisis in corporate America: a wave of aging business leaders who refuse to step aside. The average retirement age is similarly increasing: to 62 in 2024 from 57 in 1991. Using public data from 1992 to 2018, they assessed the relationship between a CEO's age and their "managerial ability," as measured by how they turned company resources into revenue and profit. "​​A 10% increase in CEO age is associated with a 1.9% decrease in managerial ability," they wrote. And older workers, both above and below the traditional retirement age, already face unwarranted discrimination in the workplace.
Persons: who'd, Joe Biden's, Donald Trump, Ruth Bader Ginsburg, Sen, Dianne Feinstein, It's, Rosemond Desir, Scott Seavey, Seavey, what's, Mark Fisher, Sumner Redstone, , David Ekerdt, Olivia S, Mitchell, Desir, Warren Buffett, Rupert Murdoch, Fisher, Biden imbroglio, they're Organizations: Business, Supreme, California, Florida Atlantic University, University of California, CBS, Viacom, Barclays, gerontology, University of Kansas, Wharton, Chevron, Caterpillar, Berkshire Hathaway, News Corp Locations: America, Irvine, Southern California, United, Berkshire
At age 12, Bella Lin spent an hour every week "scraping, scrubbing and power washing" excrement off her two guinea pig cages. This year, GuineaLoft has brought in roughly $71,000 a month in revenue so far, according to documents reviewed by CNBC Make It. GuineaLoft's Amazon storefront sells hay feeders and no-drip water bottles for guinea pigs, but also acrylic cages and accessories for hamsters, rabbits and birds. While Lin considers herself to be a "veteran guinea pig owner," she's had to gain experience designing cages and products for the smaller pets. 'I'm kind of just the guinea pig girl'Outside of BizWorld, Lin's friend circle is void of other entrepreneurs: "To them, I'm kind of just the guinea pig girl," she says.
Persons: Bella Lin, Lin, GuineaLoft, Kevin Heinz Lin, isn't, TLeggings, , Kevin Heinz, she's Organizations: CNBC, The University of Chicago Locations: Sunnyvale , California, Hangzhou, China
Business: Five9 provides intelligent cloud software for contact centers in the United States and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales and marketing functions. Five9 is a cloud-based contact center software provider empowering clients with solutions for customer service, sales and marketing. It is a developer and provider of AI contact center solutions that augment or replace human beings often at more than double the price. As an independent company, Five9 has a tremendous opportunity for value.
Persons: Anson, Moez Kassam, Sagar Gupta, InContact, Five9, Mike Burkland, Ken Squire Organizations: Legion Partners, Nice, Five9, 13D Locations: United States
AdvertisementSt. Louis FedDespite the Sahm Rule's impressive history, it is sometimes criticized because it fails to account for rising labor participation, which can raise the unemployment rate. In addition to downcast labor market data, the ISM Manufacturing Index fell further into contraction territory this week, signaling that US manufacturing continues to slow. The market's direction also depends on how investors interpret interest rate cuts alongside future data. Fed funds rate futures markets are now pricing in a 50-basis-point cut in September, according to the CME FedWatch Tool. AdvertisementHartnett and his team analyzed Fed rate-cutting cycles and identified three different types of rate cuts — cuts into a soft landing, cuts into a hard landing, and panic cuts, which are due to a credit event or some sort of Wall Street crisis.
Persons: , Claudia Sahm —, Louis Fed, Piper Sandler, Tom Essaye, Jack McIntyre, Lara Castleton, Janus Henderson, Michael Kantrowitz, we've, Kantrowitz, Michael Hartnett, Hartnett Organizations: Service, Bureau of Labor Statistics, Business, Labor, Brandywine Global, ISM, Nasdaq, Fed, Janus, Janus Henderson Investors, Bank of America, Fund
Advertisement"I had a full-time job at the time, and I even had a property manager managing the properties," Cabrera said. Dutton, who has dealt with sellers wanting out, says even property owners trying to offload the problem can lose money in the process. This way, if one unit loses money for whatever reason, the other units will continue to cash flow. In terms of considerations when thinking about the location of an investment property, Dutton noted that one of the biggest expenses buyers often miss, especially in places like South Florida, is property taxes. Another tax mistake buyers make is checking the current property tax and assuming they will pay the same amount.
Persons: it's, Whitney Dutton, Daniel Cabrera, Cabrera, Cabrera isn't, Shelby Johnson, Johnson, Dutton, Chrissy Grigoropoulus, Grigoropoulus Organizations: Service, Native Realty, US Army Locations: South Florida, San Antonio, North Carolina, Florida, New York's Nassau County, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow this 17-year-old's Amazon side hustle brings in $409,000 a yearBella Lin, 17, is the founder of GuineaLoft, a company that sells products for small pets, including guinea pig cages, bedding, food feeders and water bottles. In 2024, GuineaLoft has brought in an average of roughly $71,000 per month in revenue so far. That's up more than double compared to last year, when the company brought in $34,000 in average monthly revenue.
Persons: Bella Lin, GuineaLoft
Consumers who try to buy popular weight loss drugs online without a prescription risk being scammed or receiving unsafe products, a new study shows. Shortages of the popular weight loss medication, which belongs to a class of drugs called GLP-1s, have led to “a black market of illegal knockoffs,” said Dr. Christopher McGowan, the founder, medical director and research director of True You Weight Loss, a weight loss clinic in Cary, North Carolina. Medicare doesn’t cover the drugs when prescribed for weight loss, and many state Medicaid plans heavily restrict coverage. Online scamsSome websites purporting to be online pharmacies take consumers’ money but never deliver the medications, according to the study. Consumers won’t get that sort of care if they buy drugs online without seeing a health care provider.
Persons: , Tim Mackey, Christopher McGowan, McGowan, semaglutide, won’t, Mackey, ” McGowan, , Shabbir Safdar, Scott Brunner, Safdar, Brunner, Consumers won’t, it’s Organizations: Nordisk’s, University of California, Global Health, Data Institute, University of Pecs, FDA, Manufacturers can’t, Medicare, JAMA, Food and Drug Administration, semaglutide, Novo Nordisk, telltale, Partnership, Safe Medicines, Alliance, Pharmacy, Consumers Locations: San Diego, Hungary, Cary , North Carolina, U.S
The first national Muslim organization that had declared itself "uncommitted" on President Joe Biden's re-election bid is endorsing Vice President Kamala Harris' candidacy. “She has shown more sympathy towards the people of Gaza then both President Biden and former President Donald Trump,” Suswell said of Harris. The group’s endorsement is significant given the backlash the Biden administration has faced from the Muslim community over its handling of the war. “It wasn’t an easy meeting for the president,” Suswell said. I think she’s more open to having conversations around ending the war.”Suswell added that her group was also moved to support Harris publicly because of her stances on domestic issues.
Persons: Joe Biden's, Kamala Harris, Salima Suswell, Biden, Donald Trump, ” Suswell, Harris, , Netanyahu’s, Suswell, , ” Harris, Benjamin Netanyahu, Israel, Netanyahu, Donald Trump’s, Trump Organizations: Muslim, Black Muslim Leadership Council Fund, NBC, Black Muslim Leadership Council, Biden, Israeli, White Locations: Gaza, Israel, Selma , Alabama, , Wisconsin , Michigan, Georgia, Pennsylvania, Palestine
Read previewThis as-told-to essay is based on a conversation with Eleni Trapp, a 26-year-old UX designer from Florida who left her corporate job to freelance. Now, I'm a freelance UX designer who gets to write my own rules. As a UX designer, my job would be to transition their brick-and-mortar business into the digital landscape. I knew I wouldn't be happy settling into another corporate job so I decided to take a chance on freelancing. AdvertisementI'm building a space to channel my feminine rageAs I continue to freelance, I'm also building a business I'm endlessly passionate about.
Persons: , Eleni Trapp, It's, I'm, hadn't, I'd, wasn't, I've, Trapp, Tess Martinelli Organizations: Service, Business, LinkedIn Locations: Florida, tmartinelli@insider.com
"A 50 basis point Fed cut in September is clearly justified as the labor market is now showing clear signs of softening," said Yung-Yu Ma, chief investment officer at BMO Wealth Management. The firm, which has long been saying the Fed will need to cut aggressively this year, expects another 50 basis point cut in November by a 25 basis point cut move in December. A basis point is 0.01 percentage point. The S & P 500 lost more than 2.5% and Treasury yields plummeted, sending the policy-sensitive 2-year note down more than a quarter percentage point to 3.91%. "It's very possible the Fed alters its inter-meeting communications on the balance of risks to remove all doubt [of] a September rate cut."
Persons: Yung, Yu Ma, David Donabedian, Preston Caldwell, David Rosenberg, Jerome Powell, Jamie Cox Organizations: Federal Reserve, Fed, Labor Statistics, BMO Wealth Management, Wall, Citigroup, CIBC Private Wealth, Morningstar, Rosenberg Research, Harris Financial
In Aspen, a New Art Fair Follows the Money
  + stars: | 2024-08-02 | by ( Ray Mark Rinaldi | ) www.nytimes.com   time to read: +1 min
A down art market? None of that matters in Aspen, Colo. At least, that is the theory behind a new art fair in the city when the global arts industry is in a slump. Aspen is both rich and spendy, with one of the highest concentrations of ultrawealthy homeowners in the country. The record was broken again with another Aspen deal just a week later. “All those bursting wallets and bare walls add up to a consistent demand for paintings and sculpture, enough for Rebecca Hoffman, the founder of the Aspen Art Fair, to plunge ahead confidently with her event, even when trade reports show international art spending down more than 10 percent in 2023.
Persons: Doug Leibinger, ” Leibinger, Rebecca Hoffman Organizations: Aspen, Aspen Art Fair Locations: Aspen, Colo, Colorado, U.S
This is known as child-focused parenting, a style devised in the 90s that has become the norm in the last decade. Gaskins isn't the only psychology professional against child-focused parenting. Ironically, child-focused parenting teaches kids that it's normal to forego your identity and boundaries. AdvertisementInstead of being prepared for adult life, "the child's world is completely separated from the adult world," Doucleff said. Woo, who teaches at UC Irvine, said she's witnessed the lasting effects of child-focused parenting.
Persons: , Michaeleen Doucleff, Doucleff, Suzanne Gaskins, Gaskins, Brené Brown, Tim Ferriss, Gen Xers, Sharon Hays, Caitlyn Collins, Louis, Collins, bento, Dr, Jenny Woo, Woo, she's, It's Organizations: Service, Business, Northeastern Illinois University, Washington University, Disney, UC Irvine, Pew Locations: San Francisco, American, St, playdate, America
Related storiesAthwal said that the change in etiquette extends beyond out-of-office emails. He said he noticed the change in Gen Z résumés, regular work emails, and Microsoft Teams messages. Daniel Harris, a director at the recruitment firm Robert Walters, told BI that he, too, noticed Gen Z employees signing off emails with fun and informal taglines. Paola Accettola, CEO of the consultancy True North HR, also said that fun out-of-office emails should usually be reserved for coworkers only. Still, it can present problems if a colleague or client misinterprets what is meant to be a funny out-of-office email or email sign-off," she said.
Persons: , Gen Z, Lucas Botzen, Gen, Steven Athwal, Zers, Athwal, Z, Daniel Harris, Robert Walters, Harris, Botzen, Paola Accettola Organizations: Service, Business, Guardian, Microsoft, Barclays, True
Ismael Zambada García, one of the founders of the Sinaloa drug cartel in Mexico, appeared in court in Texas on Thursday, one week after he was kidnapped by his former business partner’s son and flown across the U.S. border into the hands of American agents. The appearance in Federal District Court in El Paso for an initial hearing was routine as a legal matter, but it also represented a consequential moment in the history of the drug war. It was the first time that Mr. Zambada García, a wily drug lord who had managed to evade capture for decades, was brought before a judge to be held accountable for what prosecutors have described as a nearly 50-year career of drug dealing, murder and corruption. Last week, that career was cut short when Mr. Zambada García, who is 76 and known as El Mayo, was lured from one of his mountain hide-outs to the Mexican city of Culiacán, which has long served as a stronghold for the Sinaloa cartel. Instead, he was ambushed, muscled onto a plane and flown across the border to a small regional airport near El Paso.
Persons: Ismael Zambada García, Zambada, Zambada García, El Organizations: Court Locations: Sinaloa, Mexico, Texas, U.S, El Paso, El Mayo, Mexican, Culiacán
To understand how we got here, it’s helpful to return to another sweltering summer, a summer when everything actually was without precedent. The 55 men who assembled in Philadelphia 237 years ago to hammer out an American Constitution differed on a great many things. Among the rare points on which most agreed was that the American people could not be trusted to choose a president for themselves. Slavery (barely discussed) and the mechanics of representation (much discussed) proved vexing. But few questions so confounded the delegates to the 1787 Constitutional Convention as those pertaining to the American presidency.
Locations: Philadelphia
Honesty is crucialIffi Wahla, the cofounder and CEO of global talent network Edge, told BI the amount of misguided advice circulating on TikTok is concerning. AdvertisementBeing too genericSome career advice TikTokers encourage spamming LinkedIn and other job sites with hundreds of the same documents. Related storiesBut recruiters talk, Chapman and Wahla told BI. 'Act your wage'Martin Morris, an associate director at the recruitment agency Talos360, told BI the worst advice he's seen is to "act your wage." AdvertisementInstead, Lovell recommended briefly covering something you didn't discuss during the interview that shows you are a good fit for the role.
Persons: , Wahla, Jill Chapman, Chapman, Martin Morris, Morris, Lovell, Chris, it's, she's Organizations: Service, Business, ageism, Insperity, SoFi Technologies, ATS Locations:
“I think I always see potential in things,” she told Architectural Digest for the magazine’s September cover story. James is a visible figure in the fashion world. Reclaimed terracotta tiles make up James' outdoor kitchen. Less zen: the process of getting a 1,000-pound stone sink into her indoor kitchen. “Sometimes you have to just do what’s right for you right now.
Persons: Aurora James, Vellies, , , Farrow, Ball, James, Ayo Edebiri, Rosario Dawson, she’s, Frank Frances, Michelle Obama’s, Alexandria Ocasio, Cortez, Isamu Noguchi, Sarah Ellison, ” Frank Frances, Tyler Mitchell, Mickalene Thomas, Tschabalala Organizations: CNN, Nordstrom Locations: LA, Laurel Canyon, Brooklyn —, Black
Cruise lines were just beginning to reactivate their fleets after a tumultuous pause in operations amid the COVID-19 pandemic (remember that?). For the most part, if you want to pay that little but don't want to hunt for a deal, you're better off sticking with Carnival Cruise Line. Your budget vacation might not be so budget-friendly once onboardMass-market cruise lines have increasingly added pricey pay-to-play amenities to their new ships. The 22-year-old vessel is scheduled for many of the cruise line's cheapest-per-day itineraries this year. Carnival Cruise LineAnd while its mini-golf course, shows, and waterslide are free, you'll have to pay extra for the arcade games or to participate in the "Build-A-Bear Workshop at Sea" or "Deal or No Deal" programs.
Persons: , Brittany Chang, let's, Tynan Smith, Tyanan Smith, Cruise, Carnival's, Josh Weinstein Organizations: Service, Carnival Corp, Royal Caribbean Group, Business, Cruise, Royal, Holland America, WiFi Locations: Holland America, Royal Caribbean, Firenze
A group of right-wing venture capitalists have voiced support for Donald Trump and JD Vance, who was once a venture capitalist himself. "They don't speak for me," she said of Musk and other right-wing Silicon Valley leaders. "They don't speak for most of us. Harris, who was born in Oakland and is known as a pro-business politician, has a more sustained connection to Silicon Valley than Biden did. Next month, Harris will travel to Silicon Valley for a fund-raising trip in her continued effort reclaim the region amid its rightward tilt.
Persons: , Kamala Harris —, Harris, Reid Hoffman, Mark Cuban, Ron Conway, Leslie Feinzaig, Graham, Walker, Donald Trump, JD Vance, Elon Musk, Marc Andreesen, Ben Horowitz, David Sacks, Trump, Feinzaig, MAGA, " Harris, Biden, Vance Organizations: Service, VCsForKamala.org, LinkedIn, Dallas Mavericks, Business, New York Times Locations: Oakland, Silicon, Silicon Valley
Ismail Haniyeh was the top figure managing Hamas’s international relations and one of the group’s most recognizable faces worldwide. From his base in Doha, Qatar, he helped lead Hamas in high-stakes negotiations for a cease-fire in Gaza, and he delivered fiery speeches broadcast throughout the Arab world. But his killing in Iran, for which Tehran and Hamas blamed Israel, is unlikely to destabilize Hamas in the long term, analysts say, noting that the group has recovered from past assassinations of political and military leaders. “His assassination is a major blow,” Ibrahim Madhoun, an Istanbul-based analyst close to Hamas, said in an interview. But, he added, “Hamas has faced this situation in the past” and “came out of those scenarios stronger.”The long list of Hamas leaders killed by Israel includes Ahmed Yassin, Hamas’s founder and spiritual leader, in 2004; Salah Shehadeh, the founder of Hamas’s armed wing, in 2002; Abdel Aziz Rantisi, a senior Hamas leader in Gaza, in 2004; and Ahmed al-Jabari, a top commander, in 2012.
Persons: Ismail Haniyeh, , ” Ibrahim Madhoun, Ahmed Yassin, Salah Shehadeh, Abdel Aziz Rantisi, Ahmed al Organizations: Hamas Locations: Doha, Qatar, Gaza, Iran, Tehran, Israel, Istanbul
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