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☆ Can Wall Street Billionaires Deliver on Trump’s Blue-Collar Promise?
▼ + stars: | 2024-11-25 | by ( Alan Rappeport | Ana Swanson | ) www.nytimes.com time to read: +1 min

When Donald J. Trump first ran for the White House in 2016, his closing campaign advertisement lamented the influence of Wall Street in Washington, flashing ominous images of big banks and the billionaire liberal philanthropist George Soros. Now, as president-elect, Mr. Trump has tapped two denizens of Wall Street to run his economic agenda. Mr. Trump’s choices to lead his economic team show the prominence of billionaire investors in setting an agenda that is supposed to fuel a “blue-collar boom” but that skeptics think will mostly benefit the rich. As Mr. Trump prepares to assume the presidency in January, business owners and investors are closely attuned to which of his economic promises he will ultimately follow through on. The selections of Mr. Bessent and Mr. Lutnick cement a hold by Wall Street executives over the two most important economic posts in any administration.

Persons: Donald J, Trump, George Soros, Scott Bessent, Soros, Howard Lutnick, Cantor Fitzgerald, Bessent Organizations: White House, Commerce Department, Mr, Wall Street Locations: Washington, China

☆ YouTube's late CEO wrote a blog post about living with cancer weeks before her death. This was her 'most important lesson.'
▼ + stars: | 2024-11-25 | by ( Ana Altchek | Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.

Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association

☆ Washington Curtails Intel’s Chip Grant After Company Stumbles
▼ + stars: | 2024-11-24 | by ( Tripp Mickle | Ana Swanson | ) www.nytimes.com time to read: +1 min

The Biden administration plans to reduce Intel’s preliminary $8.5 billion federal CHIPS grant, a move that follows the California-based company’s investment delays and broader business struggles. The government’s decision to reduce the size of the grant follows Intel’s move to delay some of its planned investments in chip facilities in Ohio. The company now plans to finish that project by the end of the decade instead of 2025. The chip maker has been under pressure to reduce costs after posting its biggest quarterly loss in the company’s 56-year history. The move by the Biden administration also takes into account Intel’s technology road map and customer demand.

Persons: Biden Organizations: Biden, Intel, U.S ., Taiwan Semiconductor Manufacturing Company Locations: California, Ohio

The NFL highlighted the risks posed by what it called “organized and skilled groups” of burglars targeting wealthy athletes. Mahomes has called the ordeal “frustrating” and “disappointing.”Orange County District Attorney Todd Spitzer in Santa Ana, Calif., on July 3. “It’s totally military”-level technology, Orange County District Attorney Todd Spitzer told NBC News over the summer. “The FBI reported that, in most of the incidents, the homes were equipped with alarm systems that were not activated,” reads the NBA memo obtained by NBC News on Friday. “The FBI also reported that the homes were all unoccupied and, in most cases, no dogs were present.”

Persons: Patrick Mahomes, Travis Kelce, Bobby Portis, Alan Hamilton, there’s, Mike Conley’s, Portis, Todd Spitzer, Allen J, ” Hamilton, “, Hamilton, “ It’s, we’ve, ” Organizations: NBA, FBI, American Theft Groups, NFL, Kansas City Chiefs, Milwaukee Bucks, Southern California ., South America, Electronic, NBC, ” Minnesota Timberwolves, Minnesota Star Tribune, Los Angeles Times, “, ”, NBC News Locations: Southern California, Southern California . Federal, Los Angeles, Orange County, Central, South, Instagram, Kansas City, Mahomes, Santa Ana, Calif, Chicago, Houston, Dallas, Chile, ”

☆ Trump’s Trade Agenda Could Benefit Friends and Punish Rivals
▼ + stars: | 2024-11-23 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

The sweeping tariffs that President-elect Donald J. Trump imposed in his first term on foreign metals, machinery, clothing and other products were intended to have maximum impact around the world. They sought to shutter foreign factories, rework international supply chains and force companies to make big investments in the United States. But for many businesses, the most important consequences of the tariffs, enacted in 2018 and 2019, unfolded just a few blocks from the White House. In the face of pushback from companies reliant on foreign products, the Trump administration set up a process that allowed them to apply for special exemptions. The stakes were high: An exemption could relieve a company of tariffs as high as 25 percent, potentially giving it a big advantage over competitors.

Persons: Donald J, Trump Organizations: United States Trade Representative, Commerce Department Locations: United States, China

☆ The do's and don'ts of planning your holiday shopping to avoid the rush, according to a Google Trends expert
▼ + stars: | 2024-11-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

A Google Trends and tech expert suggests avoiding bakeries, salons, and grocery stores on Saturdays. The holiday season is right around the corner and planning your week ahead could help you beat the crowds and save time. Business Insider spoke to Google Trends and technology expert Jennifer Jones ahead of Thanksgiving to get advice on the best way to plan your week during the holiday rush. AdvertisementIf you plan to shop on Black Friday, Google's data shows that the busiest travel times are between 11:00 a.m. and 2:00 p.m. Don't hit the road on these daysIf you plan to travel Thanksgiving week, make sure you avoid leaving Friday.

Persons: Jennifer Jones, Saturday Jones, Jones, it's Organizations: Google, Business, Saturday

Caiaimage/Paul Bradbury | Caiaimage | Getty ImagesWhen is a dupe an appropriate gift? Alternatively, "if it seems appropriate in the situation — if it is a more light-hearted gift — you can definitely go the dupe route," she said. 'It's a dupe for a reason'While some shoppers take pride in buying dupes, roughly 86% of shoppers have been disappointed by their purchase of a dupe, CouponCabin found. Shopping secondhand this seasonConsumers should make the same value considerations when buying secondhand, which has also become more popular, even for gifting. The majority, or 83%, of shoppers are also open to receiving secondhand gifts this holiday season, the report found.

Persons: Paul Bradbury, Caiaimage, Ellyn Briggs, Melanie Lowe, Lowe, CouponCabin, Lauren Beitelspacher, it's, Beitelspacher Organizations: Morning, Babson College, Pew Research Center, Facebook Locations: dupes, U.S

☆ New York City’s Congestion Pricing Plan Clears Final Bureaucratic Hurdle
▼ + stars: | 2024-11-22 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

New York City’s congestion pricing program has cleared its last bureaucratic hurdle, and most drivers could soon be paying $9 to enter the busiest parts of Manhattan. The Metropolitan Transportation Authority, which runs the city’s mass transit network and will oversee the pricing plan, has been granted permission by the Federal Highway Administration to proceed with the tolls as planned, according to M.T.A. Congestion pricing would charge most motorists $9 to enter Manhattan below 60th Street during peak hours, down from the previously approved rate of $15. Although it has received final government approval, congestion pricing could still be undone, even after its start date. President-elect Donald J. Trump has also threatened to stop congestion pricing as one of his first acts in office.

Persons: Donald J, Trump Organizations: Metropolitan Transportation Authority, Federal, Administration Locations: York, Manhattan

☆ There's another surge in Americans seeking secondary passports. Global citizenship firms explain what's changed.
▼ + stars: | 2024-11-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Global citizenship firms said clients are especially concerned about LGBTQ+ rights and the economy. American interest in secondary passports has been on the rise over the last year — and global citizenship firms have reported another surge since President Donald Trump's reelection. AdvertisementThe firm said it saw a 392% increase in inquiries from US nationals during election week compared to the week prior. AdvertisementHe said people are concerned about Trump's promise to raise tariffs, and how that could impact the economy and the US dollar. Leading up to the 2020 election, Jafri said there was an increase in interest from his clientele's Republican contingent.

Persons: Donald Trump's, Judi Galst, Reaz Jafri, Dasein, Jafri, isn't, he's, Galst, Rose Emmett, she's, Emmett, Elizabeth Warren, they've, Galt Organizations: Global, Henley & Partners, New, CS Global Partners, Republican Locations: New York, Europe, London, United States

☆ A former 'SNL' star says Diddy demanded a closed set when he performed, but Will Ferrell crashed his rehearsal as a bit
▼ + stars: | 2024-11-21 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +3 min

AdvertisementAna Gasteyer was a cast member on "Saturday Night Live" when Sean "Diddy" Combs performed in 1998. She said on the "Las Culturistas" podcast that he "demanded a totally closed set." Will Ferrell crashed his rehearsal as a character named Ron, which made Combs "very uncomfortable." "It is the greatest thing that's ever happened," she continued, saying that Combs "really did not roll with it. Diddy' Combs' sex trafficking case has been assigned to a new judge," Michael Che joked.

Persons: Ana Gasteyer, Sean, Diddy, Combs, Will Ferrell, Ron, Matt Rogers, Bowen Yang, Gasteyer, Diddy's, Jimmy Page, Ferrell, ascot —, Michael Che, Ferrell didn't, Marc Agnifilo Organizations: ascot, New York's Metropolitan Detention Center, Representatives, Gasteyer Locations: New York's

(Photo by Nicolas Economou/NurPhoto via Getty Images) Nicolas Economou | Nurphoto | Getty Images'That is a huge, huge gap'There is a growing disillusionment taking hold. Men are steadily dropping out of the workforce, especially those between the ages 25 to 54, which are considered their prime working years. A study by the Pew Research Center found that men who are not college-educated leave the workforce at higher rates than men who are. In 1995, both young men and women equally were likely to hold a bachelor's degree, at 25%. "That is a huge, huge gap," Pollak said.

Persons: Donald Trump, Kamala Harris, Nicolas Economou, Pollak, " Pollak, Brett House, —, Richard Fry, Fry, NEFE, Billy Hensley, Hensley, Ali Bustamante Organizations: Republican, Democratic, Getty, Nurphoto, Pew Research Center, Pew, Columbia Business School, CNBC, NEFE, Trump, Financial Wellness, Young, Roosevelt Institute Locations: Washington ,, U.S

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has risen in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion, 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. So how does that $50 billion compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook. Musk said the process took 122 days — and the startup plans to double the amount of AI chips inside it in the coming months.

Persons: OpenAI, Elon Musk, —, It's, Grok, Musk Organizations: Elon, Perplexity, SpaceX, Twitter, Nvidia

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has grown in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. Related Video How Elon Musk makes and spends his billionsThe chart below helps put that meteoric rise into perspective. How does that $50 billion valuation compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook.

Persons: OpenAI, Elon Musk, — Organizations: Elon, SpaceX Locations: xAI

☆ Mysterious exploding craters started turning up in Siberia 10 years ago. Scientists say more are likely.
▼ + stars: | 2024-11-21 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +5 min

Tucked away in the frigid northern corner of Siberia are giant craters, some deep enough to fit a 15-story building. It's been fairly clear from the beginning that the craters are caused by some type of explosion deep underground. Researchers widely agreed that when these hydrates are damaged, they release methane gas, which is what's triggering the explosions in Siberia. AdvertisementMore exploding craters to comeSiberia will likely have more explosive craters in the coming years as global temperatures continue to warm. It's unclear exactly how much methane these explosions release, but in the grand scheme of climate change, they're a small matter.

Persons: It's, Ana Morgado, Morgado, Madeline Reinsel, Osomis Organizations: University of Cambridge, Business Locations: Siberia, Russia, Manhattan, Canada, It's

☆ Rocket Lab's CEO practices founder mode like Elon Musk — but he'd rather pan for gold on Earth than live on Mars
▼ + stars: | 2024-11-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

AdvertisementHeadquartered in Long Beach, California, Rocket Lab employs over 2,000 people globally. It's an "end-to-end space company," providing launch services, spacecraft, satellite components, and on-orbit management. Rocket Lab is valued at a fraction of that, with a market cap of around $9.5 billion. He said that's the nature of who he is — and the job of running a rocket company. AdvertisementBeck describes running a rocket company as "running through a maze in the middle of the night."

Persons: Peter Beck, Beck, Elon Musk, you've, Donald Trump, Trump, David, faze Beck, Virgin, Virgin Orbit, Jeff Bezos, Rutherford, Ernest Rutherford, We've, we've, doesn't, Beck doesn't, blissfully Organizations: SpaceX, Rocket, Department of Government, Lab, Rocket Lab, New Zealand Locations: New Zealand, Long Beach , California

☆ How to optimize your holiday travel budget on 'Travel Tuesday'
▼ + stars: | 2024-11-18 | by ( Ana Teresa Solá | Ana Teresa Solá Is A Personal Finance Reporter For Cnbc. | ) www.nbcnews.com time to read: +4 min

If you still haven’t booked your holiday travel plans, take note: Prices tend to rise the closer you get to the days you’re looking to travel. To afford holiday trips, about 50% of respondents are cutting back on other expenses while 49% are picking up discounts and deals, according to the 2024 Holiday Travel Outlook by Hopper, a travel site. Some last-minute holiday travelers are leaning into so-called “Travel Tuesday” — or the Tuesday after Cyber Monday and Black Friday — which falls on Dec. 3 this year. As you shop, make sure to read the fine print in case discounts only apply for certain routes and days, Dengler explained. “I really encourage travelers to do that exploration now so that on Travel Deal Tuesday, they can be ready to actually book,” she said.

Persons: Hopper, —, ’ ”, Sally French, ”, Phil Dengler, Hayley Berg, Dengler, NerdWallet’s, “ They’re, you’ll, ” Dengler, you’re, Berg, “ Organizations: McKinsey and Company, Travel, Travel Deal, Black

☆ ‘Doomsday fish:’ A rare oarfish returns to California shores for the second time this year
▼ + stars: | 2024-11-18 | by ( Dawn Sawyer | ) edition.cnn.com time to read: +4 min

CNN —The elusive deep-water oarfish – considered to be a harbinger of bad news – was spotted yet again on the shores of Encinitas, California. “We took samples and froze the specimen awaiting further study and final preservation in the Marine Vertebrate Collection,” Ben Frable, manager of the Scripps Oceanography Marine Vertebrate Collection, said in the post. “Like with the previous oarfish, this specimen and the samples taken from it will be able to tell us much about the biology, anatomy, genomics and life history of oarfish,” Frable said in the post. The fish was found in good condition according to the release, and it was taken in for examination and preservation to become a part of the organization’s Marine Vertebrate Collection. “It may have to do with changes in ocean conditions and increased numbers of oarfish off our coast,” Frable said.

Persons: Alison Laferriere, ” Ben Frable, ” Frable, ” Scripps, Santa Ana, ”, Dahiana Organizations: CNN, Scripps Institution of Oceanography, University of California, Scripps, National Oceanic, Atmospheric Administration Fisheries Service, Southwest Fisheries Science, Scripps Oceanography, Obscura, Ocean Conservancy, GeoScience Locations: Encinitas , California, Grandview Beach, San Diego, Japan’s, Japan, Ocean, La Jolla, Huntington Beach, Santa

☆ Paul Teal death: ‘One Tree Hill’ actor dead at age 35
▼ + stars: | 2024-11-18 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +2 min

CNN —Paul Teal, a film and TV actor known best for his role in the CW’s teen soap ‘One Tree Hill,’ has died, according to a statement from his agent Susan Tolar Walters. Teal died on Friday “after a courageous battle with cancer,” Walters’ statement, provided to CNN on Monday, said. Teal is best known for appearing on Season 7 of the hit teen romance series “One Tree Hill” in 2010. Teal’s “One Tree Hill” co-star Bethany Joy Lenz remembered him as “the kind of guy who lit up a room without trying” in a statement posted to her Instagram page. Lenz said she first met Teal while they worked on the musical production of “The Notebook” that she produced in 2006, wherein Teal starred as the lead character Noah Calhoun, before they reconnected on the “One Tree Hill” set in 2010.

Persons: CNN — Paul Teal, ’, Susan Tolar Walters, Teal, ” Walters, “, Teal’s, Emilia Torello, ”, Paul Teal, Ben Affleck, Ana de Armas, Bethany Joy Lenz, Lenz, Noah Calhoun, Paul, “ Lilly, Durmot Mulroney, Malin Akerman, Brittany Snow Organizations: CNN

☆ Gen Z, millennial retail investors are tapping into ETFs, report finds. Here are things to watch out for, expert say
▼ + stars: | 2024-11-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

The survey polled 2,000 U.S. retail ETF investors in March. "The continued growth of retail investors investing in ETFs is certainly not going away," she said. watch nowMeanwhile, associated fees with ETFs tend to be much lower compared to mutual funds and other index funds. Index ETFs have a 0.44% average annual fee, half the 0.88% fee for index mutual funds, according to Morningstar. Similarly, active ETFs carry a 0.63% average fee, versus 1.02% for actively managed mutual funds, Morningstar data shows.

Persons: Oscar Wong, John Healy, Healy, He's, Young, Zers, Gen, Alison Hennessy, Hennessy, Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas Organizations: Nasdaq, millennials, Morningstar Locations: New York City, U.S, Orlando , Florida

☆ Tesla dangles deals for new buyers who take delivery by end of year as it tries to hit goal
▼ + stars: | 2024-11-18 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

AdvertisementTesla is offering three months of free Supercharging and FSD to customers taking deliveries of a new vehicle in 2024. The incentives come as Tesla strives to meet its target of delivering a record number of cars this year. The "new inventory vehicles" Tesla references in the promotion refer to Teslas that are already built and ready to be delivered. So if you kit out a Tesla model that isn't built in time for you to take delivery this year, you're out of luck. The threat of rising EV prices could push some would-be EV buyers to pull the trigger on a new Tesla before Trump takes office.

Persons: Tesla, Elon Musk, Wells, Trump, Musk Organizations: Trump Locations: North America

☆ Workplace flexibility is helping Americans take longer trips this holiday season, report finds
▼ + stars: | 2024-11-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Americans are determined to travel this holiday season — and certain workarounds are helping them take those trips. This flexibility allows workers to take trips they might not otherwise, or stretch their trips for longer, according to the survey. The change in laptop luggers is "a pretty high jump. "The value to U.S. workers of being able to work from anywhere has clearly grown over the course of the great remote work experiment," she said. "People are willing to cut corners to save money, but they don't want to skip the trip entirely," said Ted Rossman, an industry analyst at Bankrate.

Persons: Gen Zers, Eileen Crowley, Julia Pollak, Ted Rossman Organizations: Deloitte, Finance, ZipRecruiter

☆ I'm an AI researcher at Google and I've worked in the industry for 20 years. This is my advice for people entering the field.
▼ + stars: | 2024-11-17 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

Google AI specialist Yann AïtBachir suggests building a strong foundation in technical skills. This as-told-to essay is based on a conversation with Yann AïtBachir, an AI specialist at Google based in Singapore. Just under two months ago, I started working as an AI specialist at Google. AdvertisementCome in with strong technical skillsWhile I studied AI 20 years ago, the fundamentals haven't really changed. You need to specialize in one area of AI because it's quite a wide scope with generative AI, predictive AI, and natural language.

Persons: Yann AïtBachir Organizations: Big, Google, Big Tech Locations: Big Tech, Singapore

☆ A fluffy, $85 toy is taking Asia by storm and sparking legions of knockoffs. Inside the meteoric rise of Labubu.
▼ + stars: | 2024-11-15 | by ( Aditi Bharade | Erin Liam | ) www.businessinsider.com time to read: +9 min

The Labubu and Pop Mart phenomenonLabubu dolls at the opening of a Pop Mart store in Bangkok. AdvertisementIn a statement to BI, a representative from Pop Mart said that Labubu has gained a strong global fan base. Advertisement"There's a bit of a 'FOMO' feeling," said Sim, 31, who owns around six Labubu toys. She has around 17 Labubu toys and said she spent over $10,000 on them. Once, she even camped outside a Pop Mart store for the latest drop.

Persons: —, Grace Lee, Lee, ─, Joey Khong, Khong, Bangkok . Sun Weitong, Lung, it's restocked, Tony Lee, Mart doesn't, Taobao, Erin Liam, Lisa, Juda, Kanaprach, Gen Zers, They're, Labubu, It's, Sim Pei Yi, Sim, Ana Gonzales, she's, Gonzales, Tracy Hsu, Lisa —, Hsu Organizations: Service, Getty, Business, Pop, Pop Mart, Daxue Consulting, Southeast, Insight, Singapore, Mart Locations: Asia, Bangkok . Sun, Xinhua, Hong Kong, Beijing, Singapore, Pop, Southeast Asia, Japan, South Korea, China, Philippines, New Jersey, California, Canada

☆ Mortgage rates may be stabilizing after the election. Here's what to expect into early 2025
▼ + stars: | 2024-11-15 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Don't expect 'huge swings' on mortgage ratesElection uncertainty contributed to an upward swing in mortgage rates during October. But now that we have a president-elect, mortgage rates are expected to gradually come down over time, Lautz said. Experts say that mortgage rates might head into a "bumpy" or "volatile" path over the next year. "Our expectation is that rates are going to be in the 6% range as we move into 2025," she said. For example, if you bought your home around this time last year, when mortgage rates peaked at around 8%, you might benefit from a mortgage refinance, Lautz said.

Persons: Freddie Mac, it's, Jessica Lautz, Lautz, Jerome Powell, Robert Dietz, Jessica Lautz Jessica Lautz, Jeff Ostrowski, Jacob Channel Organizations: Getty, Federal Reserve, National Association of Realtors, Treasury, Trump, Federal, CNBC Locations: U.S

☆ I'm a Microsoft manager. AI reduced my time spent on coding by 70%, but that doesn't mean I work any less overall.
▼ + stars: | 2024-11-15 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

AdvertisementA 37-year-old manager at Microsoft says AI has changed his workflow. AI reduced his time spent on coding by 70%, and also cut time spent on reading and meetings, he says. Whatever time I'm getting back from leveraging AI, I'm using it for some other work. Once the developers start writing code for these projects and do the actual work, that's where we leverage AI. So that's why developers are using AI wherever they can to reduce their time, but they are using any time saved for other tasks or other features.

Persons: Santhosh Reddy, ChatGPT, Susanne Franz I've, I've, I'm, it's Organizations: Microsoft, Google Locations: OpenAI

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