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☆ HSBC exec says there's a lot of AI 'success theater' happening in finance
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Jaap Arriens | NurPhoto via Getty ImagesLONDON — Increasingly many financial services firms are touting the benefits of artificial intelligence when it comes to boosting productivity and overall operational efficiency. Despite bold statements, a lot of companies are failing to produce tangible results, according to Edward J Achtner, the head of generative AI for U.K. banking giant HSBC . One example he gave was a partnership that HSBC has in place with internet search titan Google on the use of AI technology anti-money laundering and fraud mitigation. Boteju stressed that Lloyds is "proceeding with caution" when it comes to exposing the bank's customers to generative AI tools. Generative AI, on the other hand, is a more nascent technology, according to the Lloyds exec.

Persons: Jaap Arriens, Edward J Achtner, Achtner, Ranil Boteju —, Nathalie Oestmann, ChatGPT, Klarna, headcount, Sebastian Siemiatkowski, Siemiatkowski, Oestmann, Boteju, Banks, we've, Bahadir Yilmaz, Yilmaz, It's, Johan Tjarnberg Organizations: NurPhoto, Getty, HSBC, Leadership, Lloyds Banking Group, NV Ltd, Royal Albert Hall, Microsoft, Google, BBC, NV, CNBC, Lloyds, ING Locations: London

☆ I founded 3 social media platforms. After having 3 kids, here's why I never share my kids' photos online and prefer group chats instead.
▼ + stars: | 2024-10-09 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

He's a tech thought leader and one of the inventors of social media. He never posts pictures of his kids online, and tries not to let his toddlers see his phone. Related storiesI rely on group texts insteadFor me, group texting is what social media was five years ago. AdvertisementI teach my kids about online privacy and critical thinkingJust like I teach my children about physical privacy within the home, I talk with them about online privacy, too. Or, "Social media can lock you inside your head and expose you to ideas you're not ready for."

Persons: Mark Weinstein, —, I'm, That's Organizations: Service, Social, Big Tech

☆ Cybertruck owners share their likes and dislikes as Tesla's pickup approaches its first birthday
▼ + stars: | 2024-10-09 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

Business Insider interviewed 10 Cybertruck owners to hear what they thought of the vehicle. Business Insider spoke to 10 Cybertruck owners about their experience with the EV and the most notable parts of owning it. Several also owners told BI that the company could improve its customer support — whether it was being more transparent about delays or communicating updates. Cybertruck owners feel like celebrities — but you might get the finger while drivingWhile it doesn't happen often, getting flipped off seems to be a right of passage of sorts for most Cybertruck owners. Most of the interactions tend to be positive though, many of the owners told BI.

Persons: Tesla, —, It's, Elon Musk, Kim Kardashian, Elon, Anthony Ardizzone, Royce —, Ardizzone, Jeremy Judkins, Lamar, Tommy Huynh, Austin, Stephen Kapusta, Jason Burtman, Jay O'Brien, he's, Joe Fay, Cybertruck, Getty, John Keeble Charlie Redmond, he's Elon Musk's, Lamar MK, O'Brien, Kapusta Organizations: Business, Service, EV, Honda, Royce, Getty, BI, Orlando Locations: Jupiter , Florida, North Carolina, Harrisburg , Pennsylvania, Kansas City , Missouri, Austin, Piermont , New York

We talked to several experts to find the top options for our guide to the best portable generators. The Jackery Explorer 3000 Pro Solar Generator is $1,000 off, making it one of Amazon's most popular Prime Day generator deals. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. Check out our roundup of all of the best Prime Day deals, or browse Amazon's website for the full selection.

Persons: it's, Anker SOLIX Organizations: Business, Honda, DELTA, Delta, Gas

☆ Dell's sudden 5-day return-to-office order leaves parents scrambling to find childcare
▼ + stars: | 2024-10-09 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

Attendance was tracked, but the system was flexible in practice, and many ended up leaving at lunchtime, Dell workers told Business Insider. Some parents and other caregivers on the sales team told BI that the lack of notice sparked panic. Two other parents at Dell told BI they were facing the same issue finding day care. Workers told BI that Dell's Round Rock HQ has been busy since the company introduced a 5-day RTO for the sales team. Brandon Bell / GettyTwo parents from the sales team told BI that managers were trying to be lenient where they could.

Persons: Dell, they've, —, they'd, Bill Scannell, John Byrne, Scannell, Byrne, Michael Dell, Brandon Bell, Nick Bloom, wouldn't, Johnny C, Taylor, it's Organizations: Dell, Business, Service, Global, BI, Workers, Stanford, Society for Human Resource Management

☆ I'm waiting out Hurricane Milton in a Universal Studios hotel with my daughters. We're not scared.
▼ + stars: | 2024-10-09 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

Allison Gilgenbach checked into a Florida hotel at Universal Studios ahead of Hurricane Milton. After we entered our hotel room at Universal Orlando Resort in Florida, my daughters, Reagan, 11, and Ryann, 8, and I looked for the nearest exits and flights of stairs. The last time Reagan checked the weather app, Hurricane Milton was predicted to hit central Florida around 5 a.m. Thursday. AdvertisementGilgenbach and her daughters pictured before Universal Studios was closed due to the threat of Hurricane Milton. AdvertisementAre you in the path of Hurricane Milton and would like to share your story with Business Insider?

Persons: Allison Gilgenbach, —, Reagan, Hurricane Milton, it's, Gilgenbach, We'd, Harry Potter, we've, We've, They've, they've, Milton Organizations: Universal Studios, Service, Universal Orlando, Hurricane, Universal, Business Locations: Florida, Hurricane Milton, Cleveland, Tampa, Ohio

☆ Markets will be looking for any surprises out of Thursday's big inflation report
▼ + stars: | 2024-10-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve policymakers have been breathing easier lately regarding inflation, and that faith that they're closer to achieving their goal will get a key test Thursday. Specifically, the Labor Department's reading is expected to show an annual inflation rate of 2.2% and a monthly gain of just 0.1%, according to the Dow Jones consensus. However, following a much better than expected jobs report for September, Fed officials in recent days have indicated a likely more measured approach to cuts ahead. Details in Thursday's report will matter: Housing inflation has proven to be stubborn, though policymakers still expect lower rent renewals to feed into the data the months progress. The report hits just after the S & P 500 rose to a new record on Wednesday.

Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Dallas

But right now, borrowers should expect mortgage rates to remain near their current levels for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.20%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

☆ I spent $1.25 million on a 'hurricane-proof' home in Milton's path. I'm not evacuating.
▼ + stars: | 2024-10-09 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

In 2022, William Fulford spent $1.25 million on a Florida home he believes is "hurricane-proof." Years ago, my sister moved down to Anna Maria Island. We drove past Hunters Point and my wife said, "I think you sent me a picture of that place once." AdvertisementAn aerial view of Hunters Point in Cortez, Florida. As of Wednesday night, Hurricane Milton is on track to make landfall close to Hunters Point.

Persons: William Fulford, homebuilder, —, Fulford, Anna Maria Island, I'm, It's, Marshall Gobuty, we've, Helene didn't, Helene, Anna Maria, They're, we're, I'd, Hurricane Milton Organizations: Service, Walmart, Mercedes, Pearl Homes, Business, Flood, FEMA Locations: Florida, Fulford, Cortez , Florida, downtown Tampa, Virginia Beach , Virginia, Chesapeake Bay, Milton, Bradenton that's, Sarasota, Virginia Beach, Hurricane

☆ 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

☆ Here's what's on Gen Z's 'micro-spending' wish list
▼ + stars: | 2024-10-09 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Gen Z is choosing "micro-spending" over traditional financial milestones, analyst Riani Kenyon said. AdvertisementTwenty-somethings are ditching traditional financial milestones in favor of filling their wish lists with more instant forms of gratification. Gen Z is collecting trinketsSonny Angel dolls have become a hit with American Gen Zers. Related storiesThey're adhering to trendsHailey Bieber, a trendsetter for Gen Z, has many lining up to buy her beauty brand. RhodeAs the TikTok For You Page refreshes, so do the hot new items that Gen Zers must have.

Persons: Riani Kenyon, —, Ellyn Briggs, Meredith Whitney, Gen, Kenyon, Angel, Zers, Edmond So, Z, Sonny Angel, Sonny Angel unboxing, Hailey Bieber, Briggs, Gen Zers, Shawn Owens, Hailey Bieber's, It's, Owens, Stanley, Megan Willett, Owala, Todd Owyoung, Gen Z, That's Organizations: Service, Financial, American Express, China Morning, Getty, Dreams USA, Rhode, Wei, NBC Locations: TikTok, Hailey Bieber's Rhode

☆ Less than half of Americans believe they're on track for retirement. Here's how to know and what to do if you're not.
▼ + stars: | 2024-10-09 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

A divide exists about reaching financial goals between confident and uncertain savers. Inflation and market volatility are major obstacles to achieving retirement savings goals. AdvertisementThere's a divide in America between the savers and investors who feel confident they're on track to achieve their financial goals and those who think they're not. Respondents cited inflation as the biggest obstacle to reaching retirement goals, followed by stock-market volatility, expenses, credit card debt, and child education. For example, if you're 35 with an income of $100,000, you should have between $100,000 to $200,000 set aside for retirement.

Persons: —, Rob Williams, Charles Schwab, boomer, Gen, Williams, you've, there's Organizations: Service, Schwab Center, Financial Research Locations: America

☆ Why the interest-rate cut isn't delivering the relief consumers were hoping for
▼ + stars: | 2024-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we got our first interest-rate cut, but it doesn't feel like it for many consumers . We finally got an interest-rate cut, but borrowing costs are still high. First off, last month's interest-rate cut wasn't going to provide immediate relief. Yes, the average 30-year fixed mortgage rate has gone up 47 basis points since the Fed cut rates , writes BI's Matthew Fox. So the Fed cut rates but borrowing costs went up?

Persons: —, Milton, Alyssa Powell, isn't materializing, Jennifer Sor, Let's, BI's Matthew Fox, I'm, It's, BI's James Rodriguez, who's, Warren Faidley, Hurricane Milton, Hindenburg, Chelsea Jia Feng, Vinod Khosla, OpenAI, Mark Zuckerbergs, Gen Zers, haven't, Rebecca Zisser, Elon Musk's, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Gas, Hindenburg, Tech, DOJ, Google, Walt Disney World, Hurricane Milton, Federal Reserve, Fed, Treasury, Hurricane, Energy, Futures, Bank of America, Disney Locations: Florida, Warren, Tampa, Chelsea, Robotaxi, Hurricane, New York, London

☆ Why $3 billion Crestline Summit believes it's different from the 'indentured servitude model' of its multimanager rivals
▼ + stars: | 2024-10-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

For others, such as the $3 billion hedge-fund platform Crestline Summit, it is a part of their expansion plans. One such manager is former Citadel PM Josh White, who started trading at his London-based Regents Gate earlier this year with capital from Crestline. Advertisement"Some of our competitors are kind of an indentured servitude model," said Scott Nelson, who runs the client partnership group. The brand the firm is trying to push externally is that they are "capital partners, not capital providers," Nelson said. AdvertisementA person familiar with the manager's flagship strategy said Crestline was up nearly 12% in 2023, besting funds such as Point72 and Millennium.

Persons: —, Caroline Cooley, Crestline, we're, ExodusPoint, Michael Gelband, Neilson Arbour, multimanagers, Arbour, Cooley, Josh White, Scott Nelson, Nelson Organizations: Service, of, Crestline Summit, Texas, Citadel Locations: Texas, The Texas, of Texas, New York, London, Crestline

With one of the most powerful hurricanes in a century barreling toward Florida on Tuesday, the Twin City mobile home park was already a scene of devastation because of Hurricane Helene. Twin City Mobile Home Park in Saint Petersburg, Fla., on Oct. 8, 2024. Jesse Hancock and Ria Blaight tried to salvage what they could Tuesday from their flooded home in Twin City mobile home park. Matt Lavietes / NBC NewsBut Pinellas Park, just north of St. Petersburg, is also in a mandatory evacuation area. I don’t care what kind of home.”Twin City Mobile Home Park in Saint Petersburg, Fla., on Tuesday.

Persons: Hurricane Helene, Milton, Matt Lavietes, Mark Prompakdee, Helene, “, ‘, ” Prompakdee, Jesse Hancock, Ria Blaight, Hancock, Blaight, ” Hancock, ” Blaight, “ It’s, ” Walter Smutz, Smutz, I’m, ” Smutz, Ninda Menegias, Ninda, Menegias, ”, Corky Siemaszko Organizations: — Homes, Twin, Twin City Mobile Home, NBC, ” Twin City Mobile Home, Management, NBC News, Lakeshore Management Locations: PETERSBURG, Fla, Florida, Twin City, Hurricane, Saint Petersburg, Pinellas Park, Park, St . Petersburg, ” Twin City, Skokie , Illinois, St . Petersburg , Florida, New York City

Vice President Kamala Harris for weeks was criticized for avoiding tough questions that came with long-form traditional media interviews. In an interview with CBS News’ “60 Minutes” that aired Monday evening, she faced many of them all at once. “Was it a mistake to loosen the immigration policies as much as you did?” “60 Minutes” correspondent Bill Whitaker asked. Whitaker, who noted that the border security issue had been ongoing for decades, tried twice more to pin Harris down. It was just one of the searing questions that Whitaker formulated as he peppered Harris and, for a shorter time, Minnesota Gov.

Persons: Kamala Harris, Biden, Bill Whitaker, “, ” Harris, Whitaker, Harris, Joe Biden, Donald Trump, ”, Tim Walz, Walz, Trump, “ I’m, Oprah Winfrey, they're, “ You’re Organizations: CBS, ’, Congress, Minnesota Gov, Trump, Republicans, NATO, “, Glock Locations: Minnesota, Maricopa County , Arizona, Ukraine, United States

☆ S&P's Dan Yergin warns of 'dangerous time' for global economy as Middle East tensions fester
▼ + stars: | 2024-10-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Iran fired hundreds of ballistic missiles and drones at Israel in retaliation for an attack on an Iranian diplomatic facility in Syria. The global economy is entering a "dangerous time" like never before as Middle East tensions remain elevated, said S&P Global's vice chairman Daniel Yergin. When asked if the global economy is on the precipice of another supply shock resulting from Middle East tensions, Yergin said it's a precarious time for markets. "The betting is that the Israelis would not attack, try to attack, the nuclear facilities at this time. It is a strategically important waterway linking crude producers in the Middle East with key markets across the world.

Persons: Yergin, CNBC's, Joe Biden, Daniel Yergin, it's, —, Pavel Molchanov, Raymond James, Iran's Organizations: White House, Cuban Missile, Iran Watch, Wisconsin, U.S . Energy Information Administration Locations: Iran, Israel, Iranian, Syria, China, Hormuz, Oman

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Persons: Bose, Max, They're, Apple Organizations: Business, Deal, Sony WH, 1000XM5, Apple, Amazon, Amazon Sony WH, Sony, Apple AirPods, Wireless

☆ Kamala Harris' pitch to families struggling to care for both kids and aging parents: Medicare for in-home eldercare
▼ + stars: | 2024-10-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

AdvertisementVice President Kamala Harris wants to make it easier for families struggling to care for children and aging parents simultaneously. During a Tuesday interview on "The View," Harris proposed a first-ever Medicare benefit to cover in-home care needs for older adults. According to a recent survey from Genworth, a long-term care insurance company, the average cost of in-home care stood at $75,504 in 2023 — up from just over $68,000 in 2022. Along with Medicare at Home, the Harris campaign outlined a proposal to expand Medicare to include vision and hearing coverage. Still, it's unclear if Congress would approve Harris' proposal; President Joe Biden has previously proposed expanding eldercare, which ultimately did make it into his 2021 bipartisan infrastructure law.

Persons: Kamala Harris, —, Harris, it's, Donald Trump, JD Vance, Vance, Joe Biden, asheffey Organizations: Service, Bureau of Labor Statistics, Medicare, Bank of America, Home, Economic, of New Locations: Genworth, of New York

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Persons: Dyson, we've, Rose, Skip, Braun, Gillette, shea, Heusen, Anne Klein, It's, you've Organizations: Business, Amazon, REVLON, Revlon, Gillette Venus Womens, Panasonic, PURA, Pura, palmetto, Amazon St, St, Sports Locations: Tropez

Persons: AirPods, They're, Apple AirPods Max, Bose, Max, Apple Organizations: Business, Deal, Sony WH, 1000XM5, Sony, Apple, ANC, Wireless, Amazon, Bose, Anker

☆ Garrett from 'Love Is Blind' season 7 had a major glow-up, convincing fans he and Taylor got married. Here's what we know about their status.
▼ + stars: | 2024-10-08 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

"Love Is Blind" season seven features singles from the Washington, DC area. Taylor and Garrett are one of the couples who get engaged and make it out of the pods. On TikTok, Taylor has joked about being in the television spotlight as "Love Is Blind" is Netflix's flagship dating franchise. AdvertisementHere's how Taylor and Garrett get together, and what we know about their relationship today. Taylor and Garrett bonded over a shared science background in the podsOn their first date in episode one, Taylor and Garrett learn that they share a scientific background.

Persons: Taylor, Garrett, they're, —, Sabrina Carpenter's, They're, There's, texted, there's, Taylor's, Nina Parker, ina, arker, orth, eason Organizations: Service Locations: Washington ,, Washington, TikTok, Mexico, Instagram

Learn moreWith Amazon's Prime Big Deal Days underway, some of the best Prime Day MacBook deals are live. For coverage of all the top sales for Prime Big Deal Days, take a look at our live roundup of the best Prime Day deals. Apple MacBook Air 13-inch M2 (2022) $749.00 $999.00 Save 25% The 2022 MacBook Air introduced Apple's M2 processor, which improved performance over the M1 version. From a portability standpoint, Apple's MacBook Air models are lighter, thinner, and more portable than MacBook Pro laptops at comparable display sizes. Check out our roundup of all of the best Prime Day deals, or browse Amazon's website for the full selection.

Persons: we'd, they're Organizations: Business, Amazon's, Deal, Apple, Apple MacBook, Air, MacBook, Highlights, Pro Apple, Pro

☆ Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce
▼ + stars: | 2024-10-08 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +7 min

With his mentors' feedback, he created a résumé that helped him land him a role at Google a few months later. Software engineer at GoogleSahil Gaba, a software engineer at Google, said he liked two main things on his 2021 résumé, which landed him $300,000 in starting pay. Software engineer at MetaHemant Pandey, a software engineer at Meta, said he has been using the same résumé template since he graduated from his master's program in 2017. It landed Lin his roles at Meta, Visa, and PayPal, and, in 2022, a $350,000 pay package at Google. Previously at Cisco and SAP, the software engineer now works for Salesforce, where he interviews other candidates.

Persons: —, Virmani, Google Virmani, Google Sahil Gaba, I've, Gaba, Meta Hemant Pandey, it's, Google Yung, Yu Lin, he's, Lin, Ghatage Organizations: Big Tech, Service, Deloitte, Google, Software, Meta, Tesla, SAP, Visa, PayPal, Cisco

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