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AI systems need lots of computers to make them work. The end result has been that Google’s greenhouse gas emissions have soared 48% since 2019, according to the tech giant’s annual environment report. An October study from Dutch researcher Alex de Vries estimated that the “worst-case scenario” suggests Google’s AI systems could eventually consume as much electricity as the country of Ireland each year, assuming a full-scale adoption of AI in their current hardware and software. It added that data center electricity consumption is currently growing faster than it can bring carbon-free electricity sources online. The company has also used AI to suggest more fuel-efficient routes to drivers using Google Maps.
Persons: , Sundar Pichai, Alex de Vries Organizations: New, New York CNN, Google, Big Tech, International Energy Agency Locations: New York, Ireland
CNN —In the first week of a new Trump administration, President Joe Biden’s climate wins would get put through the shredder. “He has said he’s going to come back with a vengeance,” former US special climate envoy John Kerry told CNN. He has railed against Biden’s climate policies at rallies and derided clean energy, vowing to push America back to fossil fuels. He has openly courted the oil industry at fundraising events, the Washington Post reported, promising regulation rollbacks in exchange for campaign cash. It could happen “very fast,” said David Bernhardt, who served as Interior Secretary in the Trump administration.
Persons: Trump, Joe Biden’s, nix, , John Kerry, it’s, , Joe Biden, ” Trump, Karoline Leavitt, Leavitt, Anna Moneymaker, ” Mandy Gunasekara, David Bernhardt, Bernhardt, Biden, Trump’s, Sarah Palin, ’ pocketbooks, Diana Furchtgott, Roth, Gavin Newsom, ” Newsom, “ We’re, Newsome, David Paul Morris, John Bozzella, Bozzella, ” Bozzella, he’s, ” Bob McNally, George W, Bush, Scott Olson, , ” Bernhardt, McNally, ” McNally, ’ Trump, Nate Hultman, Frederic J . Brown, haven’t, Kerry, ” Kerry, CNN’s Alayna Treene, Bill Weir, Julian Quinones Organizations: CNN, Trump, Washington Post, White, Environmental, Agency, EVs, Environmental Protection Agency, Republicans, Treasury Department, Former Trump Department of Transportation, Heritage Foundation, California Gov, Bloomberg, Alliance, Automotive Innovation, Biden, Fox News, Energy, Rapidan Energy Group, Bush White House, US Energy Information Administration, Trump Interior, Trump’s, Center for Global Sustainability, University of Maryland, State Department, Getty, United Nations Locations: Alaska, Paris, United States, Philadelphia, California, Washington ,, San Francisco, CNN California, Montebello , California, AFP
McKinsey & Company published its annual book recommendations list this week. Here's a look at the 9 business and economics books on the management consulting firm's list. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Management consulting firm McKinsey & Company this week published its annual list of book recommendations. The list includes more than 90 books across 10 genres: biography and memoir; business and economics; fiction; health; history; personal development; politics; sustainability; technology; and workplace culture.
Persons: Organizations: McKinsey, Company, Service, Management, McKinsey & Company
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNatCap, a UK startup that helps businesses understand their sustainability risks, has raised $10 million in Series A funding. The startup provides businesses with a tech platform to help them understand their risks and opportunities regarding natural issues, from water risk to biodiversity. This story is available exclusively to Business Insider subscribers. NatCap CEO Sebastian Leape told Business Insider that a "culture change" in recent years meant sustainability issues were "now top of mind" for businesses.
Persons: , Sebastian Leape, André Hoffmann, David Craig, Leape Organizations: Service, Oxford University, Business, Sustainable Finance, Tesco, Carbon, Norinchukin, Yeo Ventures, Pelican, Oxford Science Enterprises Locations: Europe, Japan
Uncaged Innovations has raised $5.6 million in seed funding. Founded in 2020, the startup develops plastic-free leather using grains and plant proteins. Check out the 12-slide pitch deck used to secure the fresh funds. Founded in 2020, the startup develops animal and plastic-free leather, and is the world's first company to develop the material from grains. This story is available exclusively to Business Insider subscribers.
Persons: Stephanie Downs Organizations: Service, Business Locations: York
Read previewA growing number of young people globally are struggling to stay in work or school. "They are searching for places where they can be true to themselves, where mental health is not looked down upon but helped, and where working sometimes from home or a coffee shop is possible." AdvertisementRather than jump on the first opportunities that come along, voluntary NEETs are holding back for the right job. Better guidanceOther career experts agreed that development should start early so students understand the variety of different paths available to them. Experts remain divided over how to address the rise in NEETs, in part because no solution would work for all.
Persons: , Louis, there's, Sen, Tim Kaine, who's, Nezih Allioglu, Michaela Wright, Friederike Fabritius, Fabritius, Fabritus, Kleeman Organizations: Service, International Labour Organization, Louis Federal Reserve's Institute for Economic Equity, Business, European Commission, Young Enterprise, Governance Association, New Workforce, Prince's, Labour Force Survey, Sustainability, HSBC UK, Google, Deloitte, WSJ Locations: NEETs, NEETS
Seaya's new $320 million fund makes it the largest VC firm in Spain, managing €650 million. The Seaya Andromeda fund will back startups across four key sub-sectors. Founder Beatriz González told Business Insider what Seaya is looking for in startups and founders. Launched in 2013 by former private equity veteran Beatriz González, Seaya is among a handful of female-founded European venture capital firms. This story is available exclusively to Business Insider subscribers.
Persons: Beatriz González, Organizations: Service, Business Locations: Spain, Madrid, Seaya
"We see softness in data — permits, starts, sales and prices all recently below expectations — potentially continuing in 2H," the analyst wrote. The bank initiated the health care tech stock with an overweight rating and a December 2025 price target of $24. "Waystar is a vertical, cloud-based software company focused on automating, digitizing, and enhancing revenue cycle management functions," wrote analyst Anne Samuel. Analyst Daniel Politzer reiterated his overweight rating on the casino and resort stock but lowered his price target to $58 from $60. The analyst wrote that he sees "the current valuation as an attractive entry point into what we view as one of the most durable companies in our coverage."
Persons: Piper Sandler, Mizuho, Piper Sandler downgrades CrowdStrike Piper Sandler, Rob Owens, Owens, CrowdStrike, Lisa Kailai Han, downgrades Goldman, Jim Mitchell, Goldman Sachs, Mitchell, Goldman, — Jesse Pound, Brandt Montour, Montour, VIK, — Hakyung Kim, Anthony Pettinari, Pettinari, — Lisa Kailai Han, Guggenheim, Tesla, Ronald Jewsikow, Keith Gill, Gill, he's, Kitty, Musk, Jewsikow, Waystar, Anne Samuel, Samuels, Jessica Reif Ehrlich, Ehrlich, Wells, Daniel Politzer, Politzer, GGR, WYNN est's, , Mizuho Mizuho, James Lee, Lee, Fred Imbert Organizations: CNBC, Seaport, of America, downgrades Goldman Sachs Seaport Research, Bank of America, Barclays, Viking Holdings, American Baby Boomers, Citi, Federal, Securities and Exchange Commission, JPMorgan, Nasdaq, Spotify, Spotify Technology, Las Vegas, Vegas, Macau GGR, Intelligence, Amazon Locations: Amazon, SIEM, Lennar, 2H, Chewy, Europe, China, Las, Las Vegas Sands, Macau, Bay Sands, Singapore, Atlassian, Monday's
New York CNN —State Farm is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state’s troubled insurance market. It’s the third major change for State Farm in California within the last year. “State Farm General’s latest rate filings raise serious questions about its financial condition,” California Insurance Commissioner Ricardo Lara said in a statement. A few months following State Farm’s decision to stop offering new home insurance, Farmers Insurance also started limiting new homeowners insurance policies in California, citing high costs and wildfire risks. Farmers is the second-largest provider of homeowners insurance in the state, after State Farm.
Persons: Ricardo Lara, ” Lara, , Farmer’s, – CNN’s Cheri Mossburg Organizations: New, New York CNN, State Farm, Farm, California Department of Insurance, Farmers Insurance, Farmers Locations: New York, California, , Florida
Below your feet, about 3,400 miles down, is Earth's inner core. The data implies that in 2010, the inner core reversed its rotational direction compared to the Earth's surface — a phenomenon called backtracking. Now, the inner core is rotating more slowly than before the shift. Related storiesBut a recent study offers a new way of looking at the data that could help settle the debate. Proving the inner core is backtrackingJohn Vidale is part of the new research that offers more evidence to the notion that the inner core is backtracking.
Persons: aren't, It's, John Vidale, Stephen Gee, Vidale Organizations: Service, Business, University of Southern, USC Locations: University of Southern California, South Sandwich Islands
Investors seeking to boost returns in their 60/40 portfolio should look to what AllianceBernstein calls "the magnificent others." "If you're finding companies that are giving you dividend growth rates of anywhere say from 10% to 12%, well north of inflation, that has a nice compounding effect," he said. What makes these dividend-paying stocks appealing is that free cash flow is expected to grow roughly 7% over the next five to six years, he said. Instead, investors should focus on companies that have free cash flow, a strong balance sheet and are competitively positioned, he said. Within dividend-paying names, Czaicki sees three specific areas of opportunity: energy transition and security, supply chain security, and national defense and cybersecurity.
Persons: Walt Czaicki, Czaicki, They're Organizations: Federal Reserve, Tech, Income
The submersible rides were part of a Viking Expedition trip. Hopping in one right from Viking's cruise ship makes things a little easier. AdvertisementSix passengers can ride in Viking Expedition submersibles and witness Antarctica from under the water. An expedition ship built for luxury and discoveryViking Expedition cruises to Antarctica typically have nine scientists aboard doing research and instructing passengers. Stanwell-Smit said this capability is cutting-edge for any research vessel, not a cruise ship.
Persons: , Antony Gilbert, Damon Stanwell, Smith, Viking's, Octantis, Viking Expedition submersibles, Gavin Newman, Alastair Miller, Smit Organizations: Service, Viking Expedition, Business, Geographic, Viking, Polar Research, Polaris Locations: Viking, Antarctica
Demand for solar jobs is growing in response to clean-energy goals and government incentives. Many entry-level solar jobs don't require higher education, and they offer on-the-job training. Solar jobs offer a low barrier to entry and high growth potentialHowever, the shortage means there are many affordable, accelerated solar training programs designed to help people get their foot in the door. Collardson added that people with backgrounds in areas such as marketing, engineering, and law could apply their skills to jobs at solar companies. HelieneThe solar industry can support long-term careersWhile Collardson acknowledged that specific solar jobs could grow or shrink as incentives and demands change, they said they believe there will always be jobs in the solar industry for those willing to be flexible.
Persons: Kate Collardson, Karl Wendt, Wendt, Martin Pochtaruk, Collardson, it's, Pochtaruk Organizations: Service, US Department of Energy, View Research, Corporations, House, Industries, Middle, Goodwill Industries, Companies Locations: Middle Tennessee
For example, some millennials who manage Gen Zers face the unique challenge of weighing their corporate conditioning against more progressive ideals. Courtesy of Maya PennSome people say that Gen Z's eclectic style is unprofessional, but 24-year-old Maya Penn said Gen Z is simply embracing authenticity. Another tool she's implemented is adopting a softer approach to giving feedback after she noticed her Gen Z employees were interpreting her initial approach as criticism. Despite the challenges of leading Gen Z, this manager said the younger generation has taught her to prioritize her personal life. "Some people complain that they're hard to work with, but having high expectations and wanting work-life balance and an employer who cares isn't a bad thing," Tooker told BI.
Persons: , Zers, they've, Piper Hansen, Hansen, Zers who've, she's, Kim Schewitz, Gen Z, Zer, Schewitz, you'll, Gen, Maya Penn, Penn, It's, I've, Hannah Tooker, Mitchell Sauve Hannah Tooker, Tooker, They've, Z, Tess Martinelli, tmartinelli@businessinsider.com Organizations: Service, Business, YMCA, BI, Penn
Morgan Stanley has resumed coverage of Hong Kong-listed Geely with an overweight rating on expectations the Chinese automaker can weather macro and industry uncertainties. "We see Geely as a beneficiary of market consolidation," Morgan Stanley Asia equity analyst Tim Hsiao and a team said in a June 25 report that resumed coverage of the stock. Hangzhou-based Geely entered China's auto industry in 1997 and is known for acquiring Volvo in 2010. But the company raised the share of its new energy vehicles to 32% so far this year, higher than peers such as Great Wall Motor, for which the share is 23%, the Morgan Stanley analysts pointed out on Tuesday. The Morgan Stanley analysts on Tuesday set a price target of HK$11.20 ($1.43), about 27% above where shares closed Friday.
Persons: Morgan Stanley, Tim Hsiao, Geely, PHEV, Morgan Stanley's, BYD, bode Organizations: U.S, European Union, Lynk, Volvo, HK Locations: Hong Kong, Morgan Stanley Asia, Hangzhou, New York, China, EVs
'A useful disguise' for the HouthisBetween December and March, Houthi attacks damaged at least 19 commercial ships, according to a June 13 report published by the Defense Intelligence Agency. US Central Command via AP, FileThe following weeks saw a decrease in the pace of successful Houthi attacks. AdvertisementYemen's Houthi group released a video showing an explosive-laden drone boat target a commercial vessel earlier this month. AdvertisementDouble taps and drone boatsBeyond the recent double-tap strikes, the Houthis' ability to learn from past attacks is visible in their drone boat operations. In this photo released by the French military, the MV Tutor sinks in the Red Sea after it was struck by a Houthi drone boat.
Persons: , Archer Macy, Behshad, Houthis, Brian Carter, Ambrey, Carter, they're, des, they'll, Macy, they've, Alex Stark, John Kirby, Kirby, Yemen —, Dwight D, Theodore Roosevelt Carrier, Stark Organizations: Service, Business, US Navy, Defense Intelligence Agency, US military's Central Command, US, Command, AP, Military Times, American Enterprise, Houthi Media, Getty, des Armées, AP Experts, Center for Strategic, Studies ' Missile Defense, RAND Corporation, National Security, Eisenhower, Eisenhower Carrier Strike, Theodore Roosevelt Carrier Strike Group Locations: Gulf of Aden, Iran, Iranian, Yemen, Tehran, Israel, Gulf, Aden, Ukraine, Russian, Red, France, Sanaa
The Supreme Court on Friday overturned a decades-long legal precedent that has empowered the federal government to regulate the environment and other issues, unleashing a potential threat to President Joe Biden's climate policies. The court overruled the Chevron doctrine, one of the most important principles guiding federal regulation for the past 40 years. Last year, the Supreme Court significantly narrowed how many wetlands EPA can regulate to keep them clean. How did this case end up at the Supreme Court? They argued the Chevron doctrine injures small businesses and individuals who have little power to influence federal agencies.
Persons: Joe Biden's, Chevron, John Roberts, Joe Biden, Biden, Raimondo, Charles Koch Organizations: Service, Business, Environmental Protection Agency, Republican, Bright Enterprises, Inc, Department of Commerce, Action Institute, Chevron, Appeals, District of Columbia Circuit, National Marine Fisheries Service Locations: Chevron
Read previewAs a kid, Rob Chisholm was not drawn to the fast-paced, jet-setting life of a Wall Street banker. Well, maybe if I wanted to be an investment banker or something, I would care about that, Chisholm remembers thinking. Chisholm, on the other hand, is very open about his unorthodox path to Wall Street and the resulting feelings of being an outsider. AdvertisementWhen Chisholm was in college, he rejected the "cliche" of going to an Ivy League and getting a job on Wall Street. At the time, Chisholm admitted, Wall Street seemed like the "complete opposite in terms of the culture and the incentives" he thought he wanted.
Persons: , Rob Chisholm, Chisholm, Goldman Sachs, Frank Quattrone, Eager, dealmakers, he's, Wall, Goldman, I've Organizations: Service, Wall Street, Princeton, Business, Ivy League, Citi, Qatalyst Partners, Middlesex, Princeton's, Middlebury College, ACG Partners, Deutsche Bank, Investment Locations: Canada, Antigonish, Nova Scotia, Massachusetts, Vermont, Boston, San Francisco, tooting
You can't kill Coach
  + stars: | 2024-06-28 | by ( Amanda Krause | ) www.businessinsider.com   time to read: +10 min
Mandy Moore carries a Coach bag in 2006. And with fewer people buying Coach bags, consumer ideas of the brand shifted. Keel, who purchased her first Coach accessory — a discounted cardholder from Coach Outlet — around that time, remembers the change in the brand's perception vividly. AdvertisementKate Bauer, a 29-year-old from Toronto, collects vintage Coach bags that she exclusively buys secondhand. She told BI that the importance of old Coach styles to the brand's current business has never been clearer.
Persons: , Paris Hilton, I'd, Gilbert Carrasquillo, Lil Nas X, Gen Z, Erin Keel, Lillian Cahn, Miles Cahn, Lillian, Bonnie Cashin, Lew Frankfort, Mandy Moore, Michael Loccisano, Michael Kors, Kate Spade, Victor Luis, Keel, Chanel, wasn't, — Luis, Jide J, Zeitlin, — Todd Kahn, Coach, Camila Mendes, Beth Goldstein, Gen, Kate Bauer, Edward Berthelot, Goldstein Organizations: Business, Leatherware, , North, BI Locations: New York City, Los Angeles, Frankfort, Toronto
In a more defensive environment, we instead gravitate to lower volatility, higher dividend-paying stocks. By October, AT & T had pounded out a series of higher lows, confirming a rotation to a bullish trend. As a long-term trend gauge, I would assume that any price action above this trendline is still within the context of a bullish phase. I've also drawn a short-term trendline in pink, lining up the price lows in April, May, and June. Since an uptrend is formed by a pattern of higher highs and higher lows, then a consistent short-term uptrend would most likely remain above this trendline.
Persons: we've, I've, I'm, David Keller Organizations: CMT, CNBC, NBC UNIVERSAL, & $
L'Espérance and Putman wanted to get a sense of Zhao's personality and lifestyle before making major design decisions. Nicholas WorleyL'Espérance and Putman had relocated to Canada when Zhao got in touch, but taking on a renovation from afar wasn't an issue. It was the middle of the COVID-19 pandemic, so they were doing most of their work from home, L'Espérance told BI. But before taking Zhao's project on, the architects had her fill out their standard client questionnaire to learn about herself and her lifestyle. "We got a sense of what she liked doing, where she works, and what are important things to her," she said.
Persons: Putman, Helen Zhao, Nicholas Worley L'Espérance, Zhao, L'Espérance Organizations: Sustainability Locations: Canada
The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.
Persons: , We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City
Why some restaurants and bars are banning younger patrons
  + stars: | 2024-06-27 | by ( Harmeet Kaur | ) edition.cnn.com   time to read: +11 min
Barounis says his age policy was rare back then, and some at the time questioned his decision to keep out younger customers. As Barounis sees it, the uproar over the restaurant’s age policy suggests it might have been too extreme. But the conversation around the restaurant’s unconventional age policy raises some interesting questions: To what extent can businesses dictate who their customers are? In fact, Bliss owner Marvin Pate tells CNN his positive dining experiences at adults-only resorts are what inspired his restaurant’s age policy. Marvin Pate, owner of Bliss, says his restaurant's age policy was inspired by his and his wife's experiences at adults-only resorts.
Persons: Johnny B, Barounis, ” Barounis, Bliss, Louis, , Marvin Pate, Tina Pate, ” Pate, it’s, Pate, Trey Lindley, Lindley, Troy Hahn, ” “, he’s, Bliss aren’t, Jason Kaplan, Kaplan, , you’re, ” Kaplan, Eddie Fahmy, Toya Taylor, she’s, Bliss ’ Organizations: CNN, Villanova, Bliss, Lindley, Facebook, JK Consulting, A2Z, Consulting Locations: New York’s, Missouri, Caribbean, St, North Carolina, Columbus , Ohio, New York, Bliss, Long, San Antonio
Some venture capitalists are trying to change the equation and are backing minority founders to help them scale their companies and create jobs within their communities. The largest cities that lack any LGBTQ+ founders are Orlando, Florida; Charlotte, North Carolina; and Birmingham, Alabama. One organization trying such solutions is Chasing Rainbows, a venture capital fund that works with LGBTQ+ founders to connect them with capital. Stokes said the LGBTQ+ community historically has experienced some form of discrimination when trying to access these types of services. An angel investor himself, Stokes founded Chasing Rainbows in 2021 after recognizing that underrepresented founders are seen as riskier investments.
Persons: Charlotte ,, Brian Richardson, Richardson, Ben Stokes, Stokes, outsized, Bill No Organizations: Gallup, CNBC, StartOut, University of California Locations: StartOut's State, San Francisco , New York, Los Angeles, Denver, Austin , Texas, Orlando , Florida, Charlotte, Charlotte , North Carolina, Birmingham , Alabama, Texas, North Carolina, Alabama, Massachusetts, New York, California, Berkeley
In his three and a half years already in office, Biden has done pretty well on the core metrics of a healthy economy. Biden vs Trump on immigrationBiden and Trump are sharply divided on immigration, as are Americans. Advertisement"Peace looks like making sure Russia never, never, never, never occupies Ukraine," Biden told TIME in a May interview. Biden vs Trump on Israel-GazaBiden has consistently defended Israel since the country invaded Gaza last year following Hamas' October 7 attack. Biden vs Trump on housingWhile in office, Biden has pushed a number of policy changes on housing, including the " Housing Supply Action" plan.
Persons: Joe Biden, Donald Trump, Biden, Trump, he's, He's, Roe, Wade, Vladimir Putin, Read, Gaza Biden, Israel, hasn't Organizations: Service, ABC, Business, Biden, Trump, Dow, Keystone XL, Immigration, Republicans, Union, Department of Housing, Urban Locations: Ukraine, Gaza, Unemployment, Paris, Mexico, Florida, Russia, Israel
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