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☆ Red, blue, and green: US voters elected minimum wage increases
▼ + stars: | 2024-11-09 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Minimum wage hikes passed in two red states, and one voted against pay cuts for tipped workers. Economic concerns, like inflation, might drive voters to support pay increases despite party lines. It's happened before: In 2020, Florida voters wholeheartedly embraced Trump — and voted to hike the minimum wage to $15 by 2026. AdvertisementGeorgetown University Professor Jason Brennan told BI that it isn't strange many Americans who vote Republican also vote for a higher minimum wage. Did you vote for Trump and a higher minimum wage?

Persons: —, Donald Trump ., Trump, trounce Kamala Harris, It's, Yannet Lathrop, David Cooper, Lathrop, Cooper, he'd, JD Vance cosponsored, Jason Brennan, Brennan, they're Organizations: Service, Republican, Trump —, National Employment Law, Research Network, Institute, GOP, Georgetown, Trump Locations: Donald Trump . In Missouri, Alaska, Arizona, Florida

☆ Inside the $43 million Veterans Affairs simulation hospital where doctors are piloting new tech
▼ + stars: | 2024-07-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +6 min

An operating room at SimVET Courtesy: SimVETInside a sprawling $43 million Veterans Affairs facility equipped with operating rooms, intensive care units and an outpatient clinic, there are no patients. The SimVET facility in Orlando, Florida Courtesy: SimVETThe Veterans Health Administration services 9 million veterans in 172 medical centers across the U.S. Each medical center has a simulation program, and some have a dedicated space on site. "We have two fully staffed operating rooms, all the equipment you would normally use: lights, booms, real anesthesia machines. A mannequin at the SimVET facility Courtesy: SimVETBeyond its unusual patients, SimVET is home to many familiar-looking health-care scenes. Fluorescent lights line a long hallway full of exam rooms, and operating rooms stuffed with machinery look like they were plucked straight from a nearby hospital.

Persons: it's, Scott Wiltz, SimVET, Wiltz, SimVET Wiltz, Amanda Borchers, Borchers Organizations: Veterans Affairs, Orlando International Airport, National Center, CNBC, Veterans Health Administration, U.S, Research Network, SimVET, Medical Locations: Florida, SimVET, Orlando , Florida, Orlando, Lexington, Kentucky

☆ People using popular drugs for weight loss, diabetes are more likely to be diagnosed with stomach paralysis, studies confirm
▼ + stars: | 2024-05-20 | by ( Brenda Goodman | ) edition.cnn.com time to read: +9 min

Injected medications called GLP-1 agonists are in high demand because they have proved to be so effective for weight loss. The difference, which was statistically significant, amounted to a 52% increased risk of being diagnosed with stomach paralysis while on a GLP-1 medication. Compared with those who were not taking a GLP-1 medication, those who did were about 66% more likely to be diagnosed with gastroparesis. This study found that 0.53% of patients on GLP-1 medications were diagnosed with stomach paralysis, or about 1 case of gastroparesis for every 200 people taking the drugs. People taking GLP-1 medications were also more likely to have nausea and vomiting or gastroesophageal reflux disease (GERD) and to be prescribed a proton pump inhibitor.

Persons: gastroparesis, GERD, ”, Prateek Sharma, Sharma, ” Sharma, Michael Camilleri, “, Camilleri, It’s, who’d, Dr, Sanjay Gupta, it’s Organizations: CNN, Drugmaker, Nordisk, University Hospitals, Diabetes, University of Kansas, University of Kansas School of Medicine, American Society, Mayo Clinic, CNN Health Locations: Washington, Cleveland, GLP, Mayo

☆ Foxes were once humans’ best friends, study says
▼ + stars: | 2024-04-11 | by ( Mindy Weisberger | ) edition.cnn.com time to read: +7 min

Archaeologists originally uncovered the near-complete D. avus skeleton buried alongside a human at Cañada Seca, a site in northern Patagonia, in 1991. Parts of the D. avus specimen were buried alongside a human at Cañada Seca, a site in northern Patagonia. D. avus lived from the Pleistocene Epoch (around 2.6 million to 11,700 years ago) into the Holocene, becoming extinct about 500 years ago. With a similar diet to D. avus, dogs may have helped speed the foxes’ extinction by outcompeting them. Dogs could also have carried and transmitted diseases that sickened the foxes, Lebrasseur added.

Persons: wasn’t, Ophélie, avus, Francisco Prevosti “, Dusicyon avus, ”, Lebrasseur, Cinthia, ” Lebrasseur, Dr, Aurora, d’Anglade, ‘, Francisco Prevosti, it’s, ” Mindy Weisberger Organizations: CNN, Wellcome Trust, Archaeology Research, University of Oxford’s School of Archaeology, Royal Society Open Science, Argentina’s, Technical Research, Universidade, Oxford, Scientific Locations: what’s, Argentina, South America, Cañada Seca, Patagonia, United Kingdom, Europe, Asia, Spain, Patagonia . Hunter

☆ The 'phantom debt' of buy now, pay later is growing and will soon hit some Americans hard
▼ + stars: | 2024-01-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

Buy now, pay later plans gained popularity in 2023 as an alternative to high-interest credit cards. Buy now, pay later use surged recently and those bills are now dueThe use of buy now, pay later plans skyrocketed during the 2023 holiday season. According to Adobe, which tracks online sales, buy now, pay later plans use was up 47% on Black Friday and 43% on Cyber Monday. According to PYMNTS' survey, 39.6% of respondents used buy now, pay later plans for clothing and accessories and 33.7% used them for groceries. Buy now, pay later debt can be advantageous if used correctly.

Persons: —, Rather, Peter Cade, PYMNTS, Tim Quinlan, Shannon Seery Grein, Selcuk, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Warren Buffett, Buffett, I've Organizations: Service, Federal Reserve Bank of Philadelphia, Adobe, Household Economics, Science Research Network, Economic, Anadolu Agency, Getty, Wells, US Locations: Wells Fargo

☆ Americans broke a record for spending on Black Friday, but it's just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Many are delaying the cost as buy now, pay later programs are expected to have their biggest month ever. Many are paying via "buy now, pay later" platforms such as Klarna or Afterpay, which let shoppers pay in installments every week or month. Buy now, pay later also allows people to borrow less expensively as they get the pricing interest-free if paid off in time. Indeed, the Fed's "2022 Survey of Household Economics and Decisionmaking" found that 83% of respondents paid off their buy now, pay later programs on time. Compounding the problem is that people tend to spend more when using buy now, pay later programs, suggesting an overconfidence in what they can afford.

Persons: —, Salesforce, Beryl Tomay, Klarna, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Michael Landsberg, Landsberg Bennett, Kraig, Foreman Organizations: Black, Service, Adobe, Mastercard, CNBC, Business, Federal Reserve Bank of Atlanta, Household Economics, Social Science Research Network, Wealth Management Locations: Landsberg

☆ Americans broke a record for spending on Black Friday, but it is just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

☆ China launches world’s fastest internet network
▼ + stars: | 2023-11-15 | by ( Samantha Kelly | ) edition.cnn.com time to read: +3 min

CNN —China has started to roll out what it’s calling the world’s most advanced internet network, which promises to operate several times faster than current networks. But a more robust, faster internet service has broad implications for businesses, faster information transfers, stock trading advantages and other national security implications. A backbone network is network infrastructure that moves internet traffic to different geographic locations, and can support hungry-data transfers from technologies such as 5G and electric vehicles. The new network runs on 1,800 miles of optic fiber cables between Beijing and the south, according to a translated press release. Jinping previously said the development of the backbone network will establish the country as “a cyber power” and “accelerate the promotion of core Internet technologies,” the press release said.

Persons: Biden, Xi Jinping, Jinping, Wu Jianping, Brian Fung, Juliana Liu, Wayne Chang Organizations: CNN, Huawei, China Mobile, Beijing’s Tsinghua University, Cernet, Tsinghua University Locations: China, Beijing, San Francisco

☆ Hong Kong's IPO market is still in a slump despite an expected rebound
▼ + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.

Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China, —

☆ Common contaminants linked to accelerated weight gain in children
▼ + stars: | 2023-10-19 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

The research network aims to examine the lifetime impact of exposure in the womb to chemical contaminants in air, water and food. Both DDT and HCB contamination in people occurs “mainly through bioaccumulation in the food chain via fish, fish products, meat (and) dairy products,” Montazeri said. The July 2022 report also found PFAS exposure was sufficiently associated with decreased infant and fetal growth as well as decreased antibody response to vaccines in both adults and children. Pregnant people can take steps to reduce their exposure to various chemicals in commercial products, food and water. “Phthalates and phenols come from plastics and personal care products,” Montazeri said.

Persons: ”, Parisa Montazeri, “, Montazeri, Leonardo Trasande, HCB, ” Montazeri, Trasande Organizations: CNN, Barcelona Institute, Global Health, BMI, NYU Langone Health, Environmental, US Centers for Disease Control, CDC, US Environmental Protection Agency, National Academies of Sciences, Engineering, Medicine, Getty, NYU’s Grossman School of Medicine, National Sanitation Foundation Locations: Spain, United States, PFAS

☆ China wants to keep Russia in a 'Goldilocks' state — not too strong and not too weak
▼ + stars: | 2023-08-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Some analysts have likened the relationship to the tale of "Goldilocks" in which a middle ground is sought, with China wanting its ally Russia to not be either too strong, where it could challenge Beijing, nor too weak where it leaves China ideologically isolated against the West. It could also be seen to embolden the West and cause political instability in Russia, essentially China's backyard. "China, like many Europeans, will also want to avoid a total collapse of Russia, with the nuclear proliferation risks that might pose. China is seen by international observers as being one of the few countries that could exert its influence on Russia in bringing about an end to the war in Ukraine. "There is no way actually for China to make Russia stronger without jeopardizing Chinese interests," he told CNBC.

Persons: Xi Jinping, Vladimir Putin, Alexei Druzhinin, Etienne Soula, Soula, Xie Huanchi Organizations: AFP, Getty, U.S ., Beijing, Alliance, Democracy, German Marshall Fund of, CNBC, Russia, Xinhua News Agency, Research Locations: Russia, U.S, Beijing, Moscow, Ukraine, China, United States, Asia, Kyiv

☆ Point of no return: Australians fight for the right to work from home permanently
▼ + stars: | 2023-08-01 | by ( Byron Kaye | ) www.reuters.com time to read: +6 min

You can actually finish work at five, rather than finishing at five spending 45 minutes trying to get home." When you have a jolt, you never return to the way the world was," said John Buchanan, head of the University of Sydney's Health and Work Research Network. That same week, the public sector union struck a deal the which lets Australia's 120,000 federal employees request work-from-home an unlimited number of days. By comparison, Canada's federal workers ended a two-week strike in May with a wages agreement that came without the WFH protections they wanted. Among employees with WFH experience, 19% wanted to return to the office full-time, the survey found.

Persons: David Gray, SYDNEY, Nicholas Coomber, Coomber, Jamie Dimon, Elon Musk, John Buchanan, We're, Jones Lang Lasalle, Melissa Donnelly, WFH, Mathias Dolls, Jim Stanford, Stanford, Byron Kaye, Miral Organizations: REUTERS, JPMorgan Chase, Twitter, University of Sydney's Health, Work Research, Commonwealth Bank of Australia, National Australia Bank, NAB, European Union, Community, Public Sector Union, CBA, ifo, Macroeconomics, Stanford University, Workers, Centre, Australia Institute, Thomson Locations: Melbourne, Southbank, Australia, New Zealand, Tokyo, New York, JLL.N, Hamburg

☆ Drug shortages’ effects on cancer research may be felt for years to come
▼ + stars: | 2023-07-20 | by ( Jen Christensen | ) edition.cnn.com time to read: +8 min

But these shortages aren’t just bad for current patients, experts say; their effects on cancer research may be felt for years to come. The National Cancer Institute, the federal government’s main agency for cancer research and training, told CNN that at least 174 of its own trials may be affected by the shortages. Cisplatin and other platinum-based drugs are prescribed for 10% to 20% of all cancer patients, according to the National Cancer Institute. Crucial work on hold“With drug shortages, trials have become almost like an impossible task. “These drug shortages come and go, and there’s no real rhyme or reason, and there seems to be no rhyme or reason in terms of which institutions have shortages.

Persons: Joe Biden, it’s, ’ ”, Shadia Jalal, Indiana University Melvin, Jalal, She’s, they’ve, ” Jalal, “, ”, haven’t, “ We’ve, Mark Fleury, Fleury, you’re, ” Fleury, Dmitry Walker, Merck, We’ve, ” Walker, there’s, Biden, Lawrence Feldman, ” Feldman, Feldman, Dr, Sanjay Gupta, ‘ Organizations: CNN, National Cancer Institute, American Society of Health, Cancer, Indiana University, Bren Simon Comprehensive Cancer Center, Hematology, Oncology, IU School of Medicine, Hoosier Cancer Research Network, Veterans Administration, American Cancer Society Cancer Action Network, American Cancer Society, WVU Medicine, US Food, Pharmacists, National Comprehensive Cancer Network, University of Illinois Medical Center, CNN Health Locations: United States, China, Chicago

☆ Bankers are much more likely to engage in misconduct when they work from the office — not from home, study says
▼ + stars: | 2023-05-21 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

A new study analyzed financial misconduct investigations into traders at a UK bank amid the pandemic. Remote employees were significantly less likely to generate a securities misconduct report. Possible explanations included the physical distance from employees already engaged in misconduct. A new study of a bank in the UK found that working from home significantly decreased the rate at which its bankers generated financial misconduct reports and investigations. "Our difference-in-differences analysis reveals that working from home lowers the likelihood of securities misconduct; ultimately those working from home exhibit fewer misconduct alerts," the paper's abstract reads.

☆ Your town might be sitting on pandemic cash it could use to build a grocery store or launch a guaranteed-basic-income pilot
▼ + stars: | 2023-04-23 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

They told him they were walking from their homes to Kroger, the nearest grocery store — which was at least a 25- to 30-minute walk. That got Miller thinking about building a grocery store, or even just a shed to sell fresh food from at a lower cost. He learned the city land committee had taken over the abandoned structure and that, way back when, it had been a grocery store called Abraham Grocery. Courtesy of Dural MillerNow, starting in November, it'll be a new grocery store, Miss Ruby's Corner Market, to serve the community. Baltimore, for instance, has used American Rescue Plan funds to give out guaranteed income to young parents for two years.

☆ Companies like Uber and Amazon use AI to pay people different wages for the same work, a new study finds
▼ + stars: | 2023-04-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some companies use AI to pay workers "different amount for the same amount of work," per new research. As companies adopt AI, she's concerned these practices could become prevalent in other industries. According to Dubal, companies like Amazon and Uber have "massive data sets" on the contract workers using their delivery or rideshare platforms, including when they work, for how long, and what kind of pay they've taken for past jobs. One Uber driver Dubal interviewed, Domingo, recalled being one ride of short of unlocking a $100 bonus one evening, but then said he experienced 45 minutes of "dead time" in a popular area before he was able to get another ride. Dubal described the alleged variable pay system as the "gamblification of work," a sentiment other gig workers shared.

☆ ChatGPT is better at predicting how stocks will react to news headlines than traditional models, new study shows
▼ + stars: | 2023-04-12 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Florida researchers asked ChatGPT to analyze the sentiment of news headlines to forecast resulting stock moves. They said their study "demonstrates the value of ChatGPT in predicting stock market returns." They used this sentiment analysis to compute a numerical "ChatGPT score" and analyzed whether these scores were predictive of the company's stock market performance the next day. The researchers found a statistically significant positive correlation between these scores and the next-day stock performance for the companies they analyzed. "In short, our study demonstrates the value of ChatGPT in predicting stock market returns," the researchers wrote.

☆ TikTok's CEO got coached by ex-Obama and Disney advisers for a month before his viral Congress hearing, which saw his followers on the app increase 16,000%
▼ + stars: | 2023-03-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

TikTok hired former Obama and Disney advisers to coach its CEO before his congressional hearing, per WSJ. Shou Zi Chew has seen his follower count on TikTok rise from 18,700 to 3 million in 8 days. Chew was largely unknown before the hearing last Thursday, with just under 19,000 followers on the app, per Reuters. Two days before the hearing, Chew posted an informal introduction on the app – he was dressed in a hoodie and jeans – which has since amassed 4.7 million likes. A spokesperson for the app previously told Insider it believed the bans "have been based on misplaced fears and seemingly driven by wider geopolitics."

☆ Wall Street says TikTok CEO Shou Zi Chew had a 'disaster' day in Congress — but the internet is loving him
▼ + stars: | 2023-03-24 | by ( Reena Koh | Nidhi Pandurangi | ) www.businessinsider.com time to read: +6 min

On Thursday, TikTok CEO Shou Zi Chew appeared before the House Committee on Energy and Commerce. Wall Street slammed Chew's testimony, dubbing it a "disaster moment" for TikTok. The video has over 1.2 million views, over 215,000 likes, and a range of comments expressing their approval for Chew. Two days before the Congressional hearing, TikTok's official account shared a rare video of Chew casually introducing himself to people. In the video, Chew gave context about the hearing and asked viewers to tell him what they enjoyed about the app.

☆ Premarket stocks: Share buybacks could beat last year's record $1.2 trillion
▼ + stars: | 2023-02-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Companies have announced about $175 billion worth of planned stock buybacks so far this year. This year will likely be the first with at least $1 trillion in completed S&P 500 company buybacks, said Howard Silverblatt at S&P Dow Jones Indices. ▸ GM (GM) just inked an exclusive deal for the hottest product in automaking: Semiconductors. The strong dollar is hurting multinationalsThe rip-roaring dollar cut deeply into the earnings of multinational companies selling their wares overseas last quarter. “We got hit with that.”McDonald’s (MCD) and 3M (MMM) also said in earnings reports that they were worried that the strong dollar would affect future sales.

☆ Biden's stock buyback tax isn't working. In State of the Union, he's asking Congress for more
▼ + stars: | 2023-02-07 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +14 min

In September 2021, Sen. Sherrod Brown (D-Ohio) and Sen. Ron Wyden (D-Oregon) proposed that stock buybacks should be taxed at 2%. Lazonick, who thought any minor buyback tax would be ineffective, says he has been proven correct. If a higher buyback tax is enacted, he is betting it will not have the outcomes that Democrats envision. While it's hard to see a higher tax getting passed in the current Congress, it does make sense for Biden to state his desire for 4%. Changing a buyback tax, though, might first prove harder.

The port-to-property group, led by Gautam Adani, one of the world's richest people, has denied the allegations and called them baseless, adding it has always made the necessary regulatory disclosures. "But from an offshore investor's perspective the allegations (made by Hindenburg) ... do not seem to be clearly addressed," he said. The U.S. short-seller has said Adani's "response largely confirmed our findings and ignored our key questions." Australia's corporate regulator said on Wednesday it would review the Hindenburg report as concerns raised also relate to Adani's Australian operations. Adani Enterprises lost nearly 6% on Wednesday to bring its losses since the Hindenburg report to more than $8 billion.

It said 80% of its close to $8 trillion in assets are in its index funds, which primarily attract retail investors. Vanguard's biggest competitors, BlackRock Inc (BLK.N) and State Street Corp's (STT.N) asset-management arm, rely more on institutional investors including pension funds and foundations. Many retail investors are also interested in matters like climate change, but prioritize them less in building retirement portfolios, said Rosenbluth and other industry analysts. A FINRA Investor Education Foundation study of retail investors last March found only 9% of respondents held ESG investments. A big factor behind this gap is retail investors' lack of familiarity or knowledge about ESG products, the study found.

☆ The top 5 cities around the world where even the rich soon won't be able to afford renting an apartment
▼ + stars: | 2022-12-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Prime rents have been rising in major cities around the world as pandemic restrictions ease. That's according to the latest Knight Frank Prime Global Rental Index report. Out of the 10 cities tracked by the real estate consultancy, only two of them — Hong Kong and Auckland — registered declines in prime rental prices. Financial hub Hong Kong was affected by pandemic restrictions, while supply was strong in Auckland's luxury property segment, Knight Frank wrote in its report. Keep reading for a look at the five major cities where prime — or luxury — rentals rose the fastest in the third quarter of 2022.

☆ Elon Musk says his politics are in the center but extremism experts say he's using Twitter to increasingly empower right-wing viewpoints
▼ + stars: | 2022-12-11 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +9 min

Elon Musk has been weighing in more and more on political issues since buying Twitter. "Any argument that he's trying to empower the center is patently bullshit," a researcher on extremism told Insider. "In the past I voted Democrat, because they were (mostly) the kindness party," Musk wrote in a tweet this May. "Any argument that he's trying to empower the center is patently bullshit and should be treated as such." "The way that Twitter's content moderation has changed since he's taken over has definitely skewed towards favoring the far-right," Berger said.

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