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☆ I left my Big Tech job to bootstrap my own business. I went from making nearly $300,000 to not paying myself a salary.
▼ + stars: | 2024-10-31 | by ( Pooja Shah | ) www.businessinsider.com time to read: +7 min

In October 2023, Soni Mehra left her Big Tech job to focus on her own home decor business. I was accustomed to working with larger teams in Big Tech, so I've had to get used to balancing multiple tasks. Thankfully, I can rely on savings from my prior Big Tech roles. I no longer make the same salary as I did in Big Tech, but still prioritize spending money on things my partner and I value, like travel. People ask me if I'd ever return to Big Tech.

Persons: Soni Mehra, Mehra, —, Gabrielle Wesley, Uber, I'd, I've, I'm Organizations: Big Tech, Service, Uber, Marble Lotus, Business, San, San Francisco Bay Area, Environmental, University of California, Mars, LinkedIn, Marble, Big, Entrepreneurs Locations: Delhi, India, San Francisco Bay, Berkeley, Mars Wrigley North America, COVID, Big Tech, Bay

☆ Gold ticks up as Treasury yields slip; U.S. retail sales data in focus
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched higher on Wednesday, as U.S. Treasury yields eased, while market participants waited for more U.S. economic data to determine the number of interest rate cuts the Federal Reserve is likely to deliver in the near term. Spot gold rose 0.3% to $2,667.97 per ounce by 0217 GMT, $17 shy of a record high hit last month. The 10-year Treasury yields slipped for a third straight session, making zero-yield bullion more appealing. "The game changer in gold prices is the U.S. monetary policy easing as it sets the stage for investment demand," said ANZ commodity strategist Soni Kumari. Delegates to the London Bullion Market Association's annual gathering predicted gold prices would rise to $2,941 over the next 12 months and silver prices would jump to $45 per ounce.

Persons: Soni Kumari, Mary Daly, Raphael Bostic, Benjamin Netanyahu, Emmanuel Macron Organizations: SA, Treasury, Federal Reserve, ANZ, San Francisco Federal Reserve Bank, Atlanta Fed, London Locations: Budapest, Hungary, U.S, rearming

☆ Suki just raised $70 million for its healthcare AI assistant to beat out rival Abridge. See the 17-slide pitch deck it used.
▼ + stars: | 2024-10-10 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Suki just raised $70 million in Series D funding led by Hedosophia for its medical AI assistant. It's competing with hot startups like Abridge as VCs scramble to place their bets in healthcare AI. The startup just landed a $70 million Series D round led by Hedosophia, a secretive UK-based VC firm led by Ian Osborne. Suki's biggest competitor is healthcare AI startup Abridge, which raised a $150 million Series C at a $850 million valuation in February and is backed by big names like Lightspeed Venture Partners and CVS Health Ventures. Here's the pitch deck Suki used to raise $70 million from Hedosophia.

Persons: Suki, Hedosophia, —, Punit Singh Soni, It's, Ian Osborne, transcribes, Kleiner Perkins, Abridge, Soni, EHR, he's Organizations: Service, Flare, Breyer Capital, InHealth Ventures, Fund, Suki's, Lightspeed Venture Partners, CVS Health Ventures, Veterans Health Administration Locations: Abridge, Hedosophia

☆ Gold nudges higher on mounting U.S. rate cut bets
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday after comments from Federal Reserve officials reinforced expectations of bigger U.S. interest rate cuts later this year. Spot gold was up 0.1% to $2,408.77 per ounce as of 0354 GMT. Fed San Francisco President Mary Daly said her mind was open to cutting interest rates as necessary and policy needed to be proactive. Meanwhile, Japanese stocks opened higher, underpinning a recovery across battered Asian share markets and even triggering circuit breakers in some.

Persons: Mary Daly, Soni Kumari Organizations: Co, Federal Reserve, San, ANZ, Traders Locations: Bangkok, Thailand, U.S, San Francisco, China

☆ Gold firms ahead of U.S. inflation data, but set for weekly loss
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates. "Last week, prices scaled record highs on bets of a September U.S. rate cut. The U.S. personal consumption expenditure data for June — the Federal Reserve's favored measure of inflation — is due at 1230 GMT. Meanwhile, India's demand for gold is likely to rise while moving into the fourth quarter, which is traditionally a robust seasonal period for gold demand," ANZ's Kumari said.

Persons: Gold, Soni Kumari, Sugandha Sachdeva, ANZ's Kumari Organizations: Aurum, Federal Reserve, ANZ, SS, U.S ., Hong Kong Locations: U.S, New Delhi, China, Hong

☆ Gold dips as dollar steadies, focus turns to U.S. jobs data
▼ + stars: | 2024-06-04 | by ( ) www.cnbc.com time to read: +2 min

Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on Jan. 9, 2009. Gold fell more than 1% on Tuesday as the dollar steadied ahead of May's U.S. jobs report, due later this week, which could set the tone for the Federal Reserve's interest rate strategy. Spot gold fell 0.9% to $2,329.10 per ounce. Gold reversed gains from a bounce late in the previous session following weaker U.S. manufacturing data. The dollar index steadied, making gold more expensive for overseas buyers, after falling overnight to its lowest since mid-April.

Persons: Gold, Bart Melek, Jim Wyckoff, Wyckoff, Soni Kumari, Silver Organizations: South Korea's, Nikko, U.S ., TD Securities, Investors, Friday's U.S, Kitco Metals, ANZ Locations: Seoul, May's, U.S, India

☆ Gold subdued as U.S. dollar, yields firm; traders await inflation data
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +2 min

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields held firm ahead of key inflation data, which could offer more clarity on the Federal Reserve's interest rate trajectory. The dollar firmed 0.1%, making gold less attractive for other currency holders, while benchmark U.S. 10-year bond yields rose to multi-week peaks. "Investors will try to position themselves in gold because overall long-term fundamentals are looking pretty strong for gold at the moment." While gold is used as a hedge against inflation, rate hikes raise the opportunity cost of holding non-yielding bullion.

Persons: Soni Kumari, Tim Waterer Organizations: Co, U.S ., Treasury, ANZ, KCM, Traders, BHP, Monetary Fund Locations: Bangkok, Thailand, U.S, China

☆ Gold near record high as inflation risk lifts safe-haven appeal
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices held steady on Wednesday near a record peak hit in the previous session, as a favourable mix of emerging inflationary risks and ongoing geopolitical tensions underpinned the safe-haven metal. Spot gold was little changed at $2,351.94 per ounce, as of 0339 GMT, after hitting a record high of $2,365.09 on Tuesday. Strong central bank buying, safe-haven inflows amid elevated geopolitical risks, and demand from momentum-following funds have fuelled bullion's 14% gain so far this year. Spot silver was little changed at $28.15 per ounce, after hitting its highest levels since June 2021 on Tuesday.

Persons: Soni Kumari, ANZ Kumari Organizations: Co, ANZ, Federal, Fed Locations: Bangkok, Thailand, ., U.S

☆ Oil prices bound for second weekly gain on geopolitical tension, supply concerns
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve. Heavy oil supply has also tightened globally after Mexico and the United Arab Emirates cut exports of these grades. This comes amid solid global oil demand growth of 1.4 million barrels per day (bpd) in the first quarter, JP Morgan analysts said in a note. "Our high-frequency demand indicators estimate that total oil consumption in March averaged 101.2 million bpd, 100,000 bpd above our published estimates," they said.

Persons: Brent, Daniel Hynes, Soni Kumari, WTI, Israel, JP Morgan Organizations: . West Texas, ANZ, NATO, of, Petroleum, United, Investors Locations: Europe, Brent, Israel, Syria, Russia, OPEC, Mexico, United Arab Emirates, U.S

☆ Latino immigrant workers died on the Baltimore bridge. More will likely rebuild it
▼ + stars: | 2024-04-04 | by ( Ramishah Maruf | Gloria Pazmino | ) edition.cnn.com time to read: +12 min

More than two-thirds of Hispanic construction workers in America are foreign born. Working without a safety netFor the workers paid to rebuild the bridge, the job will be grueling — and dangerous. CNNWork-related deaths among foreign-born Hispanic or Latino workers rose to their highest level in 2021, according to the most recent Bureau of Labor Statistics data. Fourteen percent of all work-related fatalities in 2021 were foreign-born Hispanic or Latino workers, and most of them worked in construction. The agency’s reports also “consistently show” that Latino and/or immigrant workers are less likely to report employer health and safety violations.

Persons: Francis Scott Key, We’re, It’s, Reinaldo Quintero, “, Carlos Hernández, Miguel Luna, Yassir Suazo Sandoval, Jose Mynor Lopez, Dorlian Castillo Cabrera, ”, Saket Soni, Alejandro Hernandez Fuentes, Soni, ” Quintero, ’ ”, Sean McGarvey, Ligia Guallpa, Quintero, Hurricane Michael, Reinaldo Quintero “, ” Guallpa, Guallpa, Hurricane, Dave Einsel, ” Soni, Ron DeSantis ’, Fort Organizations: New, New York CNN, Bureau of Labor Statistics, CNN, Key, CNN Construction, Resilience Force, Force, of Labor Statistics, New York Committee, Occupational Safety, Health, York, New York State Department of Labor, Workers, North, Unions, Worker’s, Hurricane, Panama City, Safety, Health Administration, Historic New, New York Times, Gov Locations: New York, America, Louisiana, Hurricane, Florida, Mexico, Guatemala, El Salvador, Honduras, United States, New York City, North America’s, Canada, Venezuela, Panama, Baltimore, New Orleans, Texas, North Carolina, Historic New Orleans, Fort Meyers

☆ Cooling inflation data means the Fed is in position to cut rate in June, chief economist says
▼ + stars: | 2024-03-30 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

Cooling inflation data means the Fed is in position to cut rate in June, LPL's chief economist said. The PCE index, which is the Fed's preferred inflation gauge, decelerated to a 0.3% monthly increase, down from 0.5% in January. Services spending has slowed which indicates that growth in consumer spending will ease in the coming months, Jeffrey Roach said. AdvertisementThe latest inflation data has rolled in in line with expectations, and it's good news for those waiting on rate cuts. The Personal Consumption Expenditures index — which is the Fed's preferred inflation gauge — decelerated to a 0.3% monthly increase, down from 0.5% in January.

Persons: LPL's, Jeffrey Roach, — Organizations: Services, Service, Business

☆ 5 major challenges that have China headed for a '100-year storm,' according to billionaire investor Ray Dalio
▼ + stars: | 2024-03-28 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

There are five major trends that have China headed for a "100-year storm," according to billionaire investor Ray Dalio. They include a big debt problem, a growing internal wealth gap, and increasingly fraught foreign relations with the US. "The circumstances and the mood in China have indisputably changed to become more threatening," Dalio said in a LinkedIn post. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. download the app Email address Sign up By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementThere are major economic and geopolitical challenges brewing a "100-year storm" in China, says billionaire investor Ray Dalio.

Persons: Ray Dalio, Dalio Organizations: Service, Business Locations: China, Beijing

☆ China's industrial push risks destabilizing the global economy and watering down green-energy exports, Janet Yellen warns
▼ + stars: | 2024-03-27 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

US Treasury Secretary Janet Yellen warns that China's big industrial-production push could destabilize the global economy. China's growing clean energy industry has oversupplied markets with cheap solar panels and EVs, she said in prepared comments that will be delivered on Wednesday. "It is important to the president and me that American firms and workers can compete on a level playing field," Yellen said in speech text released by the Treasury. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "Challenges for individual firms can lead to concentrated supply chains, negatively impacting global economic resilience."

Persons: Janet Yellen, Yellen Organizations: Treasury, Service, New York Times, Business Locations: China, Norcross , Georgia

☆ There's no reason why the Fed should cut rates right now, JPMorgan market strategist says
▼ + stars: | 2024-03-26 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

There's no reason why the Fed should cut rates right now, a JPMorgan market strategist says. The economy seems to be holding up fine, and growth projections for 2024 have only gone up. AdvertisementInvestors have been holding their breath for rate cuts from the Federal Reserve, but there's no reason the central banks needs to do anything at all right now. According to JPMorgan strategist Oksana Aronov, there's not a compelling reason the central bank would lower rates in the current environment. In fact, growth projections for 2024 have only increased, Aronov noted.

Persons: —, Oksana Aronov, there's, Jerome Powell, Aronov, Apollo's Torsten Sløk Organizations: JPMorgan, Service, Federal Reserve, CNBC, Fed

☆ China's attempts to revive its economy could cause a 'sugar high' that pushes US inflation higher, new research says
▼ + stars: | 2024-03-25 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

China's attempts to revive its economy could push US inflation higher, new research says. To stimulate its economy, China policymakers are encouraging investments in the manufacturing sector. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A period of manufacturing-led growth would create a short-term "sugar high," a report from the New York Federal Reserve said. This story is available exclusively to Business Insider subscribers.

Persons: China's, — Organizations: Service, New York Federal Reserve, Business Locations: China

☆ Climate change and extreme heat will drive inflation higher, study says
▼ + stars: | 2024-03-25 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Global warming and extreme heat will drive inflation higher, a new study says. In the next decade, climate change could bump up food inflation by as much as 3.23% per year and headline inflation by as much as 1.18%. "A worst-case emission scenario would cause pressures on food inflation exceeding 4% [per year] across large parts of the world." According to a new study published in the journal Communications Earth & Environment, the effects of global warming and extreme heat are expected to create persistent increases in headline and food inflation. Related storiesThat could bump up food inflation by as much as 3.23% a year on average globally, and push headline inflation up by as much as 1.18% in the coming decade.

Organizations: Service, Environment, Potsdam Institute, Climate Impact Research, European Central Bank Locations: Africa, South America

☆ 4 tax strategies for investors, regardless of who wins the presidency, according to UBS
▼ + stars: | 2024-03-20 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

There are four strategies investors can adopt to manage tax liabilities, regardless of who wins the 2024 election, according to UBS. The firm says investors should diversify their tax statements and defer capital gains for as long as they can. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But whether Donald Trump or Joe Biden wins, Americans can take steps now to shore up their tax strategies. "Regardless of whom voters decide to return to office, the accumulated federal deficit is likely to serve as an ever larger constraint on future fiscal policy," UBS analysts wrote in a note.

Persons: —, Donald Trump, Joe Biden Organizations: UBS, Service, Business

☆ Why European stocks may soon start to outperform US equities, according to JPMorgan
▼ + stars: | 2024-03-18 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

There are five reasons why European stocks may soon start to outperform US equities, according to JPMorgan. According to JPMorgan, European equities may soon outperform their American peers. Even though European stocks are also susceptible to a hiccup because of increasingly hyped-up trades, the firm says fallout would be much worse in the US stock market. Third, the Citigroup Economic Surprises Indices shows that European economic activity momentum has begun moving above that of the US. AdvertisementLastly, JPMorgan sees an improving economic picture in China, which is a green flag for export-heavy European markets.

Persons: —, Mislav Matejka, There's Organizations: JPMorgan, Service, outstripping, MSCI, Citigroup, European Central Bank, ECB Locations: China

☆ The SEC is cracking down on investment advisers that falsely claim to use AI
▼ + stars: | 2024-03-18 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

The SEC is cracking down on investment advisers is says falsely claim to use AI. The agency settled with two advisers, Delphia and Global Predictions, who agreed to pay fines of $225,000 and $175,000, respectively. "Investment advisers should not mislead the public by saying they are using an AI model when they are not. AdvertisementThe SEC is beginning to crack down on companies it says are "AI washing." The firms, Delphia (USA) and Global Predictions, agreed to pay penalties of $225,000 and $175,000 respectively.

Persons: Gary Gensler, — Organizations: SEC, Service, Delphia, Business

☆ The 'feminization of wealth' is coming as the boomer wealth transfer boosts the economic power of women
▼ + stars: | 2024-03-16 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

Of all the ways the baby boomer wealth transfer is expected to reshape everything from housing to the stock market, it could have another big impact: making women a lot wealthier. According to Ellevest, which focuses on wealth management and financial planning for women, a lot of it is going to be inherited by women in a shift the firm is calling the "feminization of wealth." For one, as women live longer than men, there's a shuffling of wealth from boomer husbands to their wives. In total, about $84 trillion is expected to be passed down to younger generations in the Great Wealth Transfer by 2045. As women control more wealth, those corners of the economy will adapt to their needs.

Persons: —, Sallie Krawcheck, Krawcheck, Tracy Bell, Bell, It's, Gen Organizations: Service, Boomers, Business, Bank of America, Contemporary, First Horizon, Bank of America Private Bank Locations: America

☆ Undocumented immigrants are boosting the labor market and helping the US avoid recession, experts say
▼ + stars: | 2024-03-12 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Undocumented immigration has boosted the labor market, helping steer the US away from a recession, some experts say. Morgan Stanley's chief US economist has also recently cited undocumented immigration as a positive labor-market force. AdvertisementHere's a question that's been lurking beneath the stellar economic resilience in the US: how has the labor market stayed so strong? "It has boosted the labor force, it has boosted supply for labor, it has boosted job gains. AdvertisementThe labor market has recorded gains stronger than that, posting an addition of 275,000 jobs in February.

Persons: Morgan Stanley's, —, Wendy Edelberg, Tara Watson, Watson, Ellen Zentner, Zentner Organizations: Brookings Institution, Service, Congressional, Office, Bureau of Labor Statistics, Bloomberg, Brookings

☆ Why one economist says a US recession is still the most likely outcome
▼ + stars: | 2024-03-12 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

There's still a big risk of the US economy hitting a recession, Michael R. Strain wrote in Project Syndicate. Some key signals are pointing to a recession on the horizon, he wrote. "The economic outlook is unusually murky, with different sets of indicators telling different stories." "The economic outlook is unusually murky, with different sets of indicators telling different stories," Strain wrote for Project Syndicate on Monday. But those indicators also suggest that a hard landing — a recession — is more likely than a soft landing."

Persons: There's, Michael R, Strain, — Organizations: Project Syndicate, Service, American Enterprise, Business

☆ Reddit's long-awaited IPO is targeting a $6.4 billion valuation
▼ + stars: | 2024-03-11 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Reddit is targeting a $6.4 billion valuation for its IPO this year. The company is planning to sell 22 million shares, with a pricing range of $31 to $34. At the top end of the valuation range, the offering would raise $748 million. About 15.3 million of the 22 million shares will be sold by the company. Reddit's expected pricing range sets a fully diluted valuation range between $5.8 billion and $6.4 billion, marking a sharp decrease from the $10 billion private valuation the company achieved in its last funding round, in August 2021.

Persons: —, Reddit Organizations: Service, SEC, GameStop, AMC Locations: Birkenstock

☆ The Fed insists it will cut rates this year
▼ + stars: | 2024-03-06 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Jerome Powell reiterated on Wednesday that the Federal Reserve will cut interest rates this year. While the Fed says it wants inflation to cool further, it doesn't need for the measure to hit its 2% target in order to cut rates. AdvertisementFed Chair Jerome Powell on Wednesday silenced the growing chorus of forecasters questioning the prospect of rate cuts this year. AdvertisementPowell did clarify that inflation doesn't have to fall all the way to 2% before the central bank decides to cut rates. Experts like Torsten Slok have forecasted no rate cuts may arrive at all in 2024.

Persons: Jerome Powell, —, Powell, Torsten Slok Organizations: Federal Reserve, Service, House Financial Services Committee, CPI

☆ There's no fiscal 'bazooka' that China can aim at all of its economic troubles, Citi strategist says
▼ + stars: | 2024-03-04 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

There isn't a fiscal bazooka that can be aimed at all of China's economic issues, a Citi strategist says. The idea that China's government will be able to steer the economy towards prosperity is an assumption that needs to be revised. "We know that fiscal is the number one lever, but it's still very troubled waters for the Chinese economy." AdvertisementChina's economic situation is far too anemic for a big fiscal spending package to save the day. This story is available exclusively to Business Insider subscribers.

Persons: it's, —, Luis Costa Organizations: Citi, Service, CNBC, Business

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