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☆ Ken Griffin's move to Florida means losing millions on homes he never even lived in
▼ + stars: | 2024-10-21 | by ( Lian Kit Wee | Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Ken Griffin's Chicago penthouse — listed for $10 million less than he paid for it — has a buyer. A representative for Griffin said that his real-estate investments in Florida make up for the loss. AdvertisementGriffin and the listing agents for the Chicago penthouse did not respond to requests for comment sent by Business Insider. In 2023, he added, only four properties sold for that amount. AdvertisementAccording to Rafael Murillo, a Compass agent in Chicago, properties that cost eight figures are not a regular occurrence.

Persons: Ken Griffin's, —, Griffin, Ken Griffin, Walton, he's, Zia Ahmed, Michael LaFido, Knight, Rafael Murillo, Murillo, Michael Jordan's, Jordan, LaFido, homebuyers Organizations: Service, Citadel, Cook, Bloomberg, Chicago, Business, Chicago Tribune Locations: Ken Griffin's Chicago, Florida, Chicago, Gold Coast, Lake Michigan, South Florida, Coconut Grove, Miami, Palm Beach, Chicagoland, New York, city's St, Regis, Highland, COVID, Illinois

☆ I've been a luxury wedding photographer for a decade. I learned 2 big lessons about timing from my own wedding.
▼ + stars: | 2024-10-17 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +5 min

Lydia Koh is a fine art wedding photographer and founder of a Singapore-based photography company. Koh said a timekeeper can help couples with a less stressful experience — a lesson from her own wedding. I started wedding photography in 2013 when I attended a gorgeous wedding on a ranch in Southern California with a sunset reception. AdvertisementAs much as I've learned from photographing weddings over the past decade, the biggest lesson came from my wedding. AdvertisementEveryone will want photos with the couple on the wedding day, and it can be overwhelming to manage everything alone.

Persons: Lydia Koh, Koh, —, I've, They're, It's Organizations: Service Locations: Singapore, Southern California

☆ China's luxury market has been in a slump, and we're about to find out how bad it really is
▼ + stars: | 2024-10-15 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

China's luxury market could face its worst quarter in four years, amid aggressive stimulus measures. AdvertisementLuxury brand investors are bracing to see if China's aggressive stimulus measures could be enough to pull its faltering luxury market out of the woods. While Beijing's recent moves to inject liquidity and lower interest rates have sparked some hope in pulling Chinese shoppers out of their spending slump, experts are skeptical of an immediate revival of China's luxury market. Related storiesWhile China's poor economic growth had deterred luxury spending for some, others continued their luxury shopping sprees — outside China. AdvertisementAlthough the outlook for China's luxury market remains bleak in the short run, Jefferies analysts are expecting a recovery as soon as 2025, Reuters reported.

Persons: bellwether, —, Markus Hansen, LVMH, Patrice Nordey, Trajectry, Nordey, Marc Jacobs, Hermès Organizations: Service, Burberry, Reuters, CNBC, Jefferies Locations: China, Asia, Japan, Paris, Shanghai, LVMH

☆ Halloween shoppers are cutting back — and Spirit Halloween, the spooky season giant, is betting big on Christmas
▼ + stars: | 2024-10-14 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Halloween spending is forecast to drop by 5% this year, as inflation hits household spending. AdvertisementHalloween shoppers are tightening their wallets this year, but the season's biggest retailer is eyeing America's next big holiday — Christmas. As consumers are forecast to spend less on Halloween, spooky season retail giant Spirit Halloween is seeking to capture a slice of the much-larger Christmas market. AdvertisementSpirit Halloween CEO Steven Silverstein said on Wednesday that the company, which has over 1,500 Halloween locations, is opening "Spirit Christmas" stores. AdvertisementWhile inflation looms over Americans' Halloween budgets, winter holiday spending is expected to rise by 7% this year, per a PwC report.

Persons: —, Steven Silverstein, Silverstein, Kym Sarkos, Erica Weisgerber, Plimpton, Jerry Murray Organizations: Service, National Retail Federation, The New York Times, New York, Debevoise, Plimpton LLP, Bloomberg, University of, Business Insider Locations: Cheddar, Atlantic City, Albany, Poughkeepsie , New York, The

☆ Hurricane Milton might cost insurers up to $50 billion — but it could have been much worse, analysts said
▼ + stars: | 2024-10-11 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

Hurricane Milton's insured losses could cost between $30 billion and $50 billion, said analysts. AdvertisementHurricane Milton stormed Florida on Wednesday, leaving an estimated $30 billion to $50 billion of insured losses, according to analysts from Fitch Ratings in a Thursday note. Milton's insured losses could range from $30 billion to $50 billion, according to Fitch, making it the largest since Hurricane Ian in 2022, which caused $60 billion in damages. According to a September report by Moody's Analytics, Hurricane Helene's insured losses were between $20 billion and $34 billion. Fitch analysts said local insurers might face insufficient reinsurance coverage to handle the losses and drive up premium rates.

Persons: —, Hurricane Milton, Milton, Alejandro Mayorkas, Fitch, Ian, Morningstar DBRS, Jefferies, Ron DeSantis, Helene Organizations: Service, Hurricane, Fitch, US Homeland, White, Morningstar, Reuters, Analytics, National Hurricane Center, Gov, Moody's Analytics, P, Global, Swiss RE Locations: Florida, Tampa, Swiss, Fitch

☆ I'm a photographer who shoots weddings around the world. Couples want one kind of photo — but they don't actually use them.
▼ + stars: | 2024-10-10 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Most couples want candid shots, but Huggett said that they always end up using proper posed photos. Wedding photography wasn't even on my radar. Shooting weddings takes you everywhereI like to say shooting for weddings is the "Olympics of photography" because it pushes every skill a photographer has. Related storiesIt's not just about snapping candid shots of the couple. How to take the best posed photosWhen it comes to posed photos, I like to keep things dynamic, adding movement so it doesn't feel stiff or overly formal.

Persons: Joshua Huggett, Joshua Huggett Media, Huggett, —, they've, Max, I've Organizations: Service, Mad Max Locations: Australia, Peru

☆ X Is back up and running in Brazil after it caved and paid a fine — because there are some battles Elon Musk can't win
▼ + stars: | 2024-10-09 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

X can operate in Brazil again, after an August ban over noncompliance with court orders. But its return to Brazil was further delayed after the court said that X had transferred the $5 million to the wrong bank. In X's Wednesday X post, the company said that it would continue to defend free speech "within the boundaries of the law." Related storiesThe country is key to X's business — it's the sixth-largest market globally, with over 21.5 million users, Reuters reported in September. X did not respond to a request for comment sent by Business Insider outside business hours.

Persons: —, Elon, Alexandre de Moraes, X, Musk, de Moraes, De Moraes, Matteo Ceurvels, eMarketer, Axel Springer Organizations: Service, Supreme, Reuters, Associated Press, Business, Business Insider Locations: Brazil, China

☆ Inside the lives of travel tutors for the wealthy: big paychecks, yacht trips, and very little personal space
▼ + stars: | 2024-10-09 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +9 min

Travel tutors can earn six figures a year, but that price tag comes at a personal cost. For the past 14 years, she's worked with Tutors International, a company offering private travel tutor services. Tutors International, a UK-based company offering these services, advertises positions with salaries ranging from $150,000 to $380,000 annually. AdvertisementBut the hefty paycheck comes with significant caveats, said four current and former travel tutors who spoke with Business Insider. "You're there to do a job, and even though you might become friendly with the family, you're not their friend."

Persons: —, Joanna Dunckley, she's, Dunckley, Adam Caller, We're, Nathaniel Hannan, Hannan, Dunkley, Ian Jones, International's Hannan, International's Dunckley, Chen Junqing, Education's Jones, " Hannan, it's, It's, Bodo Müller, Dunckley's wanderlust Organizations: Service, International, Business, Beacon Education, Harvard Locations: Phnom Penh, Cambodia, Thailand, Spain, Tonga, China

☆ Musk's X paid $5 million in fines to the wrong bank, Brazil's Supreme Court said
▼ + stars: | 2024-10-07 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

X mistakenly transferred $5 million in fines to the wrong bank, said Brazil's Supreme Court. AdvertisementElon Musk's X just botched a $5 million payment in Brazil by transferring it to the wrong bank, according to Brazil's Supreme Court, Reuters reported on Saturday. In late August, Brazil's Supreme Court banned the platform for failing to comply with orders related to content moderation and for not appointing a legal representative in the country. AdvertisementOn Friday, X's legal team submitted documents showing that they paid the fines. X and the Brazil Supreme Court did not respond to requests for comment sent by Business Insider outside business hours.

Persons: X, —, Elon Musk's X, Musk, Alexandre de Moraes, de Moraes, De Moraes Organizations: Service, Reuters, Twitter, Brazil's, Supreme, Business Insider, Citigroup Locations: Brazil

☆ The top 3 skills you need if you want to land a job in a family office, according to industry recruiters
▼ + stars: | 2024-10-07 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +7 min

Family office employees, in turn, can be paid on par with, or even better than, banking, private equity, and other top finance jobs. AdvertisementBillionaires like Ray Dalio, the founder of Bridgewater Associates, and Google co-founder Sergey Brin have established family offices in the city-state. Family office staff need to learn on the fly — even about racehorses. Managing multiple family membersIn family offices, technical brilliance alone isn't enough to secure a role. Westall shared a story of a family office executive who started as a cleaner while he was in film school.

Persons: —, Ray Dalio, Sergey Brin, Mukesh Ambani, Jack, Paul Westall, Goldman Sachs, Westall, Jimmy Soh, Soh, Pierre Pineau, that's, Pineau, Mike Campbell, there's, who's Organizations: Service, Bridgewater Associates, Google, Business, Agreus, Goldman, AP, Ivy League, Mandoga Locations: Singapore, Hong Kong, Asia, Europe

☆ Spirit Airlines stock plunges after report it is considering filing for Chapter 11 bankruptcy
▼ + stars: | 2024-10-04 | by ( Lian Kit Wee | Will Martin | ) www.businessinsider.com time to read: +3 min

Spirit Airlines may file for Chapter 11 amid major debts after a failed merger with JetBlue. A report of the potential bankruptcy filing sent Spirit's stock tumbling in premarket trade Friday. AdvertisementSpirit Airlines stock plunged in premarket trading on Friday after a report that it may file for Chapter 11 bankruptcy protection. While Spirit faces a turbulent future with a potential Chapter 11 filing, it isn't necessarily a death sentence for the airline. AdvertisementWhen contacted by Business Insider, Spirit Airlines referred to Christie's comments in August's earnings call but didn't comment further.

Persons: —, Ted Christie Organizations: JetBlue, Service, Spirit Airlines, JetBlue Airways, Street Journal, Scandinavian Airlines, Delta Airlines, Business Locations: Atlanta

☆ Tesla just stopped selling the cheapest version of the Model 3 in the US. An analyst called it 'a smart strategic move.'
▼ + stars: | 2024-10-03 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

Tesla just quietly removed its most affordable Model 3 from the US lineup on its website. Analyst Dan Ives called the shift strategic, as Tesla's focus in the US remains on the Model Y. AdvertisementTesla just silently killed its most affordable version of the Model 3 sedan in the US — a good move, one bullish analyst told Business Insider. Now, the cheapest Tesla car is the Model 3 Long Range Rear-Wheel Drive, priced at $42,490. Dan Ives, an analyst at Wedbush and a longtime Tesla bull, told Business Insider that the discontinuation is "a smart strategic move" signaling a greater focus on the Long Range Model 3.

Persons: Tesla, Dan Ives, —, Elon, Ives, Nio Organizations: Service, Reuters, EV, Vehicles, China Cold Tech, US, HSBC, country's, BI Locations: China, US

☆ I've planned weddings on mountains and seen million-dollar gowns, but that's not what young couples are spending more on
▼ + stars: | 2024-10-03 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. She has handled luxury weddings with extravagant destinations and million-dollar gowns. AdvertisementThis as-told-to essay is based on a conversation with Lelian Chew, a luxury wedding planner in Asia. I launched my events planning business, The Atelier & Co, in 2013, planning luxury events and weddings for some of the biggest families in Asia. AdvertisementIn recent years, I've noticed a shift in Asian weddings whereby younger generations emphasize upholding traditions in their weddings.

Persons: Chew, —, Lelian Chew, they've, it's, I've, We've, It's Organizations: Service, Entertainment Locations: Singapore, Asia, Maldives, Yunnan, China, Como, France

☆ Biden and other government officials are telling port companies to get a better offer to striking workers ASAP
▼ + stars: | 2024-10-02 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

President Joe Biden called for port companies to offer fair deals to striking dockworkers. He and the acting labor secretary, Julie Su, urged dock workers and companies to negotiate. AdvertisementPresident Joe Biden and other government officials are urging port companies to offer stronger contracts to the 45,000 dockworkers on strike at East and Gulf Coast ports. The message from the Biden administration is clear: Companies need to offer a fair deal to the striking workers as soon as possible. Su said the port workers' sacrifices and importance during the pandemic and in helping communities recover from Hurricane Helene weren't fairly reflected in their salaries.

Persons: Joe Biden, Pete Buttigieg, Julie Su, —, Biden, Hurricane Helene, Buttigieg, he'd, she'd, Su, Hurricane Helene weren't, Taft, Hartley Organizations: Service, JPMorgan, Federal Maritime Commission, US Maritime Alliance, International Longshoremen's Association, Associated Press, dockworkers, Department of Labor, Department of Transportation, Business Insider Locations: East, Gulf Coast, Hurricane

☆ Oura, beloved by techies and athletes alike, is launching a new smart ring this month: Bloomberg
▼ + stars: | 2024-10-01 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +5 min

Oura Health Oy is releasing a new smart ring this month, Bloomberg reported. CEO Tom Hale told Bloomberg that he expects the company's annual sales to double this year, to around $500 million. In July, Samsung entered the smart ring space with the $400 Galaxy Ring, which tracks health metrics and features built-in AI capabilities. AdvertisementIn May, Samsung filed a preemptive lawsuit against Oura, declaring that its Galaxy Ring does not violate Oura's patents. Last month, analysts from research firm IDC said that the smart ring market could retain its "premium status as a select few brands still lead the category."

Persons: Tom Hale, —, Oura, Harry, Apple's, Oura's Hale, Avi Greengart, Greengart, Hale Organizations: Oura Health, Bloomberg, Service, Oura, WNBA, NASCAR, Sun Valley Conference, Samsung, Apple, CNBC, IDC, Global, —, Business Insider Locations: Finnish

☆ I'm an Italian chef for billionaires and luxury events. 2 dishes make or break every event.
▼ + stars: | 2024-10-01 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Pertoldi said two simple dishes — bread and pasta — are always a hit. AdvertisementThis as-told-to essay is based on a conversation with Matteo Pertoldi, a private chef and Italian restaurant owner. The bread and butter of fine diningPeople generally love simple things when done well. Matteo PertoldiAt events, guests would often say, "I love your spread, but the bread and cakes really stood out. AdvertisementGuests love simple pastaWhile we try to diversify our menus to suit every event for all the guests, I've always seen a strong appreciation for pasta, especially handmade ravioli.

Persons: Matteo Pertoldi, Pertoldi, —, I've, Matteo Pertoldi I've, they've Organizations: Service Locations: Singapore, Paris, Italian, Cambodia, Amalfi Coast, Italy

☆ Photos show flooding and destruction as Hurricane Helene slams Florida, leaving over 2 million homes and businesses without power
▼ + stars: | 2024-09-27 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: 1 min

Hurricane Helene’s powerful storm surge flooded streets in coastal areas like St. Pete Beach. Vehicles drive along a flooded road as Hurricane Helene makes landfall in St. Pete Beach, Florida. Joe Raedle/Getty ImagesAt least one person was killed in Tampa after a sign fell on their car, Gov. "We know that travel on the roads can be hazardous, and we typically, unfortunately, will have fatalities in every storm from that," said Gov. "When Floridians wake up tomorrow morning, we're going to be waking up to a state where very likely there's been additional loss of life."

Persons: Pete Beach, Pete, Joe Raedle, DeSantis Organizations: Florida . Vehicles Locations: Florida, Hurricane, St, Pete Beach , Florida, Tampa

☆ I left Goldman Sachs to plan weddings for the ultra-rich. I do 4 key things to keep my clients — and their families — happy.
▼ + stars: | 2024-09-27 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Lelian Chew is the founder of The Atelier & Co, a Singapore-based luxury wedding planning company. I spent a decade at Goldman Sachs, working in Singapore and Hong Kong managing key relationships by flying to a different Chinese city each day. English wasn't his first language, so he misunderstood and thought I was starting a wedding planning business. He immediately asked me to help plan his son's wedding, insisting I take a look since I knew the family well. Many of our elder clients want to see their grandchildren uphold customs they cherish, like family crests and cultural elements.

Persons: Chew, Chew doesn't, —, Lelian Chew, Goldman Sachs, I, Lelian, it's Organizations: Service Locations: Singapore, Hong Kong, Indonesia, Maldives

☆ Photos show flooding and destruction as Hurricane Helene slams Florida, leaving over 3 million homes and businesses without power
▼ + stars: | 2024-09-27 | by ( Lian Kit Wee | Mia Jankowicz | ) www.businessinsider.com time to read: +1 min

Over a million homes and businesses were left without power in Florida. A store owner in Tarpon Springs, Florida, fortifying a window with plywood in preparation for Hurricane Helene Joe Raedle/Getty ImagesAround 1.2 million homes and businesses in Florida lost power, according to poweroutage.us, a utilities-tracking website. ET on Friday, more than 3 million customers across Georgia, North Carolina, South Carolina, Florida, and Virginia were without power, per the site. Many schools, such as those in Broward and Monroe Counties, and universities like the University of Florida and Florida State University, canceled classes through Friday. Businesses across Florida, including Tampa's city offices, closed as well, with plans to reopen once it is safe, CBS News reported Thursday.

Persons: Hurricane Helene Joe Raedle Organizations: Hurricane, Tampa International, St, Pete, Fort, CBS News, Monroe Counties, University of Florida, Florida State University, CBS Locations: Florida, Tarpon Springs , Florida, Georgia, North Carolina, South Carolina , Florida, Virginia, Clearwater, Miami, Fort Lauderdale, Broward, Monroe

☆ Telegram just announced a big change to how it'll deal with some users' data
▼ + stars: | 2024-09-24 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Telegram said it will share with officials the data of users who violate its policies to commit crimes. The announcement comes one month after CEO Pavel Durov was arrested in France. 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 . AdvertisementTelegram is making some changes to its privacy stance, weeks after CEO Pavel Durov was arrested in France and after years of facing moderation and privacy issues.

Persons: Pavel Durov, —, Durov, We've Organizations: Service, Business Locations: France

☆ I manage a private yacht marina in Singapore. Here are 3 ways I build trust with wealthy clients.
▼ + stars: | 2024-09-24 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Jonathan Sit, a regional general manager for ONE15 Marina. I joined ONE15 Marina at Sentosa Cove Singapore in 2014 as a management associate for two years before becoming regional general manager. You're starting an argument, and members don't want to argue. Don't put wealthy people on a pedestalIt sounds cliché, but the marina industry is a people business, and members want to be treated like humans. Learning a bit about yachting also helps me relate to the members better.

Persons: —, Jonathan Sit, It's, I've, it's, they've, we've, They're Organizations: Service, ONE15 Marina, Michelin Star, Business, ONE15, CNBC Locations: Hong Kong, Singapore, Sentosa Cove Singapore, Sentosa

☆ Facebook cofounder Eduardo Saverin donated $15 million to a Singapore private school that charges up to $47,000 a year
▼ + stars: | 2024-09-23 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Facebook cofounder Eduardo Saverin is currently the wealthiest person living in Singapore. He just donated $15 million to the Singapore American School. Go to newsletter preferences Thanks for signing up! AdvertisementMeta CEO Mark Zuckerberg's former business partner is making a massive donation to the Singapore American School. Facebook cofounder Eduardo Saverin donated 20 million Singapore dollars, or around $15.5 million, to SAS, the school announced on Friday.

Persons: Eduardo Saverin, —, Mark Zuckerberg's Organizations: Singapore American School, Service, Facebook, SAS, Business Locations: Singapore, Woodlands, Malaysia

☆ Nike's incoming CEO will make $27 million — over $2 million less than his predecessor
▼ + stars: | 2024-09-20 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Nike veteran Elliott Hill is returning to lead the company as its CEO, replacing John Donahoe. The company offered Hill $27 million in compensation, $2 million less than Donahoe's 2023 earnings. Go to newsletter preferences Thanks for signing up! AdvertisementNike has found a new leader, but they'll be paying him more than $2 million less than the salary of the company's outgoing CEO. On Thursday, the sports giant announced that Elliott Hill, a company veteran, will take over outgoing CEO John Donahoe on October 14.

Persons: Elliott Hill, John Donahoe, —, they'll Organizations: Nike, Hill, Service, Securities and Exchange, Business

☆ You're probably pouring Champagne wrong, says a master of wine
▼ + stars: | 2024-09-20 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Flutes are impractical and terrible for enjoying Champagne, said master sommelier Richard Hemming. Hemming said using a universal wine glass is the way to go for deeper Champagne appreciation. Go to newsletter preferences Thanks for signing up! AdvertisementIf you're sipping from Champagne flutes after popping the bottle, you're likely enjoying your bubbly the wrong way, said Richard Hemming, a master sommelier. Hemming knows his sparkling wine: He's the head of wine at 67 Pall Mall Singapore, a luxury, members-only wine club and restaurant.

Persons: sommelier Richard Hemming, Hemming, —, Richard Hemming, sommelier Organizations: Service, Pall Mall, Business Locations: Champagne, Pall, Pall Mall Singapore

☆ Huawei's new trifold smartphone is being released tomorrow, and it's already creating a frenzy on resale sites
▼ + stars: | 2024-09-19 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +1 min

Huawei's new smartphone is being listed on resale sites for three times its retail price. The Mate XT will feature a tri-fold design and have generative AI features. 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 . Huawei's new trifold smartphone, the Mate XT, is set to hit stores on Friday.

Persons: —, it's, Lin Shen Organizations: Service, Huawei, South China Morning, Business

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