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☆ Even a Russian-cofounded bank can't fund new projects in the country — and it shows just how financially isolated the country is
▼ + stars: | 2023-07-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

"Any speculations concerning the discussion of new operations of the NDB in Russia are unfounded," the development bank said in a Wednesday statement. The Shanghai-headquartered NDB was founded in 2015 by the "BRICS" nations — that's Brazil, Russia, India, China, and South Africa. She said the bank is not considering new projects in Russia as it operates in compliance with international financial and capital restrictions. On Wednesday, she also met with Russian President Vladimir Putin, the Kremlin said in a statement. Mere days after it invaded Ukraine, some Russian banks were banned from SWIFT, the Belgium-based messaging service that lets banks globally communicate about cross-border transactions.

Persons: —, Dilma Rousseff, Rousseff, Vladimir Putin, Putin Organizations: New Development Bank, Twitter, Kremlin, SWIFT Locations: Russia, Shanghai, Brazil, India, China, South Africa, Russian, St, Petersburg, Ukraine, Belgium

☆ This $220 light switch is the latest quiet luxury status symbol
▼ + stars: | 2023-07-24 | by ( Grace Mayer | ) www.businessinsider.com time to read: +4 min

A $220 light switch is popular among ultrawealthy homeowners, The New York Times reported. The light switch is part of the growing quiet luxury trend. But a $220 light switch probably wasn't on your stealth wealth bingo card. Typical light switches, which can sell for just a few dollars, have hardly been described in such a way. While the light switch, on its own, doesn't function as a dimmer, dimmers can be added as additions alongside the switch, per the Forbes & Lomax website.

Persons: Lomax, David Hottenroth, Joseph, weren't, Dave, Lorna Hall Organizations: New York Times, Service, Forbes, Times, HBO Locations: Wall, Silicon, Buffalo , New York, Brooklyn, Lafayette , Colorado, New York

☆ The average employee goes into the office less than twice a week. Here's what your business can do to help remote workers succeed.
▼ + stars: | 2023-07-05 | by ( Sponsor Post | Created Insider Studios With Intel | ) www.businessinsider.com time to read: +7 min

Employees today go into the office an average of 1.4 times per week, according to a study from the Advanced Workplace Association. Below are a few considerations to help you support your hybrid workforce with the PC technology they need to succeed. Intel vPro Enterprise for Windows OS allows IT teams remote access even when the device is turned off or the operating system isn't working. University Hospitals Bristol and Weston NHS Foundation Trust, for example, began upgrading to Intel vPro technology in 2020. Learn more about how Intel vPro can help you meet the needs of your hybrid workforce.

Persons: Forrester, weren't Organizations: Advanced Workplace Association, Intel, IT, Employees, Forrester Consulting, Intel vPro Enterprise, Windows, Tech, University Hospitals Bristol, Weston, Foundation Trust, Insider Studios, Intel Corporation Locations: Europe, Israel, Malaysia

☆ Take 3 steps to protect your assets if you're LGBTQ, say experts: This is 'our first recommendation to every couple'
▼ + stars: | 2023-06-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

When it comes to money, members of the LGBTQ community can be vulnerable targets for malicious actors. One area that many people overlook: estate planning. Put your wishes in trusted handsThe idea of a "chosen family" has been common in the LGBTQ community and other marginalized groups for generations. "Our first recommendation to every couple, regardless of whether you're married or not, is get basic estate planning documents in place — wills, trusts, powers of attorney, health-care directives, revisit all your beneficiary designations. Emphasize the need to keep these family members out of your plans and add "no-contest" provisions that penalize legal attacks on your estate, Hahn says.

Persons: Joseph Hahn, Hahn Organizations: Human, Morgan Wealth Management, CNBC Locations: U.S

☆ Roger Stone was caught on hot mic explaining how he manipulated Trump
▼ + stars: | 2023-06-02 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Footage shows former Trump advisor Roger Stone explaining how to best manipulate him. Stone said Trump is "not easy to deal with" and resents "any implication that he is handled." The clip, first obtained by The Daily Beast, is from the upcoming documentary "A Storm Foretold." And you gave that speech, and God, it had to be 10,000 people, the biggest crowd they'd ever seen. I don't know where you came up with that line, but it's one of the best things,'" Stone said.

Persons: Roger Stone, Stone, Trump, —, Donald Trump, Christoffer Guldbrandsen's Organizations: Daily, Service, Trump Locations: Denmark, Buffalo

☆ Billionaires are older than you may think
▼ + stars: | 2023-06-02 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Flashy young founders may get a lot of attention, but the typical billionaire is older than you may think. The median age of the world's billionaires is 67, according to a new report from Altrata. The median age of the world's billionaires is 67, according to a new report from data firm Altrata. Only 10% of the world's billionaires are younger than 50 — and over 40% are older than 70. Billionaires, for what it's worth, don't seem ignorant to the fact that they are an older breed.

Persons: Altrata, Elon Musk, Kim Kardashian, Peter Thiel, Jeff Bezos, Larry Ellison, Jack Dorsey, Zuckerberg, Warren Buffett, I've Organizations: Tech, Oracle, CNBC Locations: Omaha

☆ AI music could revolutionize the industry — and this artist is leading the way
▼ + stars: | 2023-05-16 | by ( Drew Austin | ) www.businessinsider.com time to read: +11 min

Despite this widespread apprehension, Holly Herndon — an experimental musician and artist — doesn't think AI is nefarious or will ruin art. Herndon's usage of AI shows a way forward for not just artists but also the rest of us. In her blog post announcing Holly+, Herndon said she envisioned a future where digitally created voices "soon become standard practice for artists and other creatives." While the project has yielded an ever-growing array of fascinating art, Holly+ also raises questions about the future of that art. (Anyone can use the Holly+ voice tool itself without submitting the output to the DAO, however.)

☆ Credit Suisse's chief US economist says home prices will likely fall another 5-10% — and that gridlock between buyers and sellers will prevent both appreciation and a larger crash
▼ + stars: | 2023-05-11 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Credit Suisse's Chief US Economist Ray Farris says home prices will see a 'long recession.' Rather, the market is likely to go through a sort of holding period, where activity stays low and prices neither boom nor bust. You can spread the housing market over many more locales in the US and that's what's happening." And the way I think of that, as a base case, it means that even as mortgage rates come down, the housing market doesn't recover rapidly. Morgan Stanley's Ellen Zentner is one economist that — like Farris — doesn't expect a recession, and only sees prices falling another 4% this year.

☆ China doesn’t want US cars like Ford and General Motors. That’s a big problem for their futures.
▼ + stars: | 2023-04-24 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

America has a problem: China — the world's largest car market — doesn't want its vehicles. In 2022, data shows Ford and General Motors' car sales in China each dropped more than 20% from the year before. My colleagues Alexa St. John and Nora Naughton break down how the future of US automakers hinges on China. Although Google founder Larry Page's flying car company Kittyhawk majorly flopped, it left us with some interesting vehicles. Hop aboard to see all the funky flying car models here.

☆ The rise of remote work helped a former teacher with $80,000 in student debt switch to her dream job and get a $20,000 pay raise without moving
▼ + stars: | 2023-04-09 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Jackie Carbo thought her dream job in tech wasn't reachable, and she had more than $80,000 in student debt. But the rise of remote work made it possible for her to make a higher-paying career shift. The geographic flexibility is among the reasons researchers cite when explaining a correlation they have found between remote work and happier employees. She even decided to start a blog to document her travels and share tips about how to balance working remotely with traveling. Has remote work helped change your life?

☆ Why Paris is one of the few cities in the world banning rental e-scooters
▼ + stars: | 2023-04-09 | by ( Eliza Relman | ) www.businessinsider.com time to read: +10 min

Transportation experts say the Paris ban doesn't necessarily mean much for the growth of micromobility. The diverging approaches to rental e-scooters by major cities around the world reflects the technology's chaotic rollout over the last few years and an inability for cities to keep up with sufficient regulations, experts say. Either way, experts say the regulatory environment in Paris and many other places just hasn't been able to keep up. Transportation experts say Paris' ban isn't necessarily reflective of how the public in that city — or any — feels about e-scooters. Despite the setback in Paris, transportation experts say electric vehicles of all sorts, from e-scooters, to e-bikes, to electric buses, are the future of transport in cities around the world.

☆ Short sellers are doubling down on these European banks — and Credit Suisse isn't their top target
▼ + stars: | 2023-03-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Short-sellers are sitting on nearly $2 billion in profit from bets against the European banking sector this month so far. The worries heightened in Europe on Wednesday as Credit Suisse shares fell by 24% — its biggest daily loss. However, data shows that Credit Suisse — Switzerland's second-largest lender — doesn't even make the list of the top five most-shorted European Banks. BNP Paribas remains the biggest target for short-sellers, with $3.1 billion in total wagers expecting shares to fall. The following table shows the European lenders that saw the largest increase in shorts over the past 30 days.

☆ A 20-year market veteran explains why China's reopening means more upside for investors than they realize — and how betting on the nation could be a winning strategy
▼ + stars: | 2023-01-28 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Mike Edwards believes that markets haven't fully priced in the upside from China's reopening. In the long run, Edwards said that China can maintain its global presence even without the US. The end of China's zero-COVID policy and the country's subsequent economic reopening has undoubtedly been one of the biggest tailwinds for markets so far this year. But while investors have welcomed this news with open arms, Mike Edwards — deputy chief investment officer at Weiss Multi-Strategy Advisers — doesn't believe that they've realized yet just how much upside the reopening of the Chinese economy could bring the stock market. Europe's outperformance over the US so far this year can, in part, be attributed to its significantly larger exposure to the Chinese economy.

☆ Trump's top DHS official told the Jan. 6 committee he doesn't remember Trump repeatedly calling the 2020 election 'rigged.' Trump used the word 'rigged' in 3 tweets 24 hours after losing the election.
▼ + stars: | 2022-12-30 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Trump official Ken Cuccinelli claims to not remember Donald Trump calling the 2020 election "rigged." "I am not prepared to validate that word," Cuccinelli told investigators, according to testimony released Friday. And "Rigged Election Hoax!" "Is it fair to say," an investigator asked, "that seeds of distrust were sown with respect to the 2020 election — after the November 2020 election?" In May 2020, for example, he asserted that the presidential contest would be "the greatest Rigged Election in history."

☆ 'Avatar: The Way of Water' nears $900 million globally, boosted by international ticket sales
▼ + stars: | 2022-12-25 | by ( Sarah Whitten | ) www.cnbc.com time to read: +3 min

Disney and James Cameron's "Avatar: The Way of Water" snared an estimated $56 million during its second weekend in theaters, a 58% drop from its debut. A decline in ticket sales is common for blockbuster titles, with most seeing a 50% to 70% slip. Box office analysts noted that cold winter weather and storms during the Christmas weekend likely led to slower ticket sales domestically. Additionally, international ticket sales continue to thrive. "The Way of Water" has generated $855 million in global ticket sales since its Dec. 16 release — $254 million domestically and $601 million from international markets.

☆ A real-estate investor who owns 9 commercial properties explains how he retired at 32 after just 5 years of investing by branching into commercial properties over residential — and shares where he see
▼ + stars: | 2022-12-18 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +14 min

Justin Sloan retired at 32 years old, just five years after he started investing in real estate. Sloan did this by branching out to commercial real estate, which he prefers over residential. Buying his first residential propertySloan began researching other investable assets such as franchises and municipal bonds, but found the idea of real estate investing especially appealing. "I was that naive to the idea that you could hire someone else to take care of your real estate." That same year, he stopped opening more cell phone stores, and instead directed all his revenue towards real estate investing.

☆ A real estate investor who owns 9 retail properties explains why he's putting his money in strip malls as skyrocketing rents spell more opportunities for investors
▼ + stars: | 2022-12-08 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Sloan pointed to the rising trend of stores leaving big malls for strip malls as another catalyst. But while the residential market has stolen the spotlight, there's still one stone left unturned: the commercial real estate sector. The pandemic-induced spike in rents has hurt property types across the board, and commercial properties are no exception. But real estate investor Justin Sloan believes that major opportunities for big returns still lie ahead in the commercial real estate space — specifically, in strip malls. "I'm expecting there to be opportunities in strip malls, and that's why I'm definitely planning on putting money there."

BlockFi users must still account for gains and/or losses on their 2022 taxes, but there are ways to reduce your tax bill. The crypto lender says it's requesting approval from the Court to restore withdrawal activities for those with BlockFi Wallet accounts. BlockFi also asked users not to submit any deposits to the BlockFi Wallet or its interest accounts. Georgia Quinn, General Counsel of Anchorage Digital, believes coverage for crypto users could be stronger. In addition, users are typically last to receive payouts in the event of crypto bankruptcy, since companies settle debts with creditors first.

☆ Here's how the BlockFi bankruptcy may affect your crypto taxes for 2022
▼ + stars: | 2022-11-28 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Photo by LanaStock via Getty ImagesWhy crypto investors may have a tax billDespite recent losses, "gains from earlier in the year are still on the books," Gordon said. Typically, crypto trading is more active when the market is going up, and that's when you are more likely to incur gains, he said. If you're sitting on crypto losses, there may be a silver lining: the chance to offset 2022 gains or carry losses forward to reduce profits in future years, Gordon explained. The strategy, known as tax-loss harvesting, may apply to digital currency gains, or other assets, such as year-end mutual fund payouts. How the FTX collapse and BlockFi bankruptcy may affect your taxes

☆ It's been a rough year for crypto — but investors still may have a tax bill. Here's how to prepare
▼ + stars: | 2022-11-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

damircudic | Gettywatch nowThe IRS defines cryptocurrency as property for tax purposes, and you must pay levies on the difference between the purchase and sales price. How to reduce your crypto tax billSince reaching an all-time high of more than $68,000 in November 2021, the price of bitcoin has dropped by more than three-quarters, plunging below $17,000 as of Nov. 15. If you're sitting on crypto losses, there may be a silver lining: the chance to offset 2022 gains or carry losses forward to reduce profits in future years, Gordon explained. The strategy, known as tax-loss harvesting, may apply to digital currency gains, or other assets, such as year-end mutual fund payouts. After reducing investment gains, you can use up to $3,000 of losses per year to offset regular income.

☆ Ivermectin — a drug once touted as a Covid treatment by conservatives — doesn't improve recovery much, clinical trial finds
▼ + stars: | 2022-10-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Ivermectin, a drug once touted by conservatives as a treatment for Covid, does not meaningfully improve the recovery time for people with mild to moderate Covid-19, according a large clinical trial published in a peer-reviewed journal. Ivermectin has been approved to treat parasitic worms in humans, but it's primarily used as a dewormer for horses. "Among outpatients with mild to moderate COVID-19, treatment with ivermectin, compared with placebo, did not significantly improve time to recovery," the team of scientists led by Duke University School of Medicine wrote. The latest trial looked at 817 people who took ivermectin tablets for three days and compared them to 774 who received a placebo. The participants who took ivermectin received a daily dose based on their weight.

☆ A musician raised an AI 'baby' to harmonize with — and her newest experiment could usher in a brave, new world of art
▼ + stars: | 2022-09-29 | by ( Drew Austin | ) www.businessinsider.com time to read: +10 min

In the world of art, misgivings about AI have been particularly acute. Despite this widespread apprehension, Holly Herndon — an experimental musician and artist — doesn't think AI is nefarious or will ruin art. In her blog post announcing Holly+, Herndon said she envisioned a future where digitally created voices "soon become standard practice for artists and other creatives." While the project has yielded an ever-growing array of fascinating art, Holly+ also raises questions about the future of that art. (Anyone can use the Holly+ voice tool itself without submitting the output to the DAO, however.)

While Amazon's second Prime Day-esque sale in 2022 — the Prime Early Access Sale — doesn't start until Oct. 11, the retailer is already rolling out early deals exclusive to Prime members. SKIP AHEAD Best early Prime deals | Exclusive promotions for Prime membersWhile you’re browsing early Prime deals, keep in mind that Amazon is not the only retailer hosting a mega sale in the next few weeks. Below, we rounded up a handful of early Prime Early Access Sale deals we think you’ll want to know about leading up to the official sale on Oct. 11-12. Best early Prime dealsAs you're sifting through Amazon’s wide variety of early Prime Early Access Sale deals, you’ll notice that some are available for a limited time period, meaning once it sells out, the deal is over. Early Prime Early Access Sale Day promotions for Prime membersBeyond deals on products across categories, Amazon is also offering a few promotions Prime members can take advantage of leading up to its October sale.

☆ Prime Medicine is gearing up for a $200 million IPO. We dug through the biotech's 282-page filing to find 5 key takeaways about the company's plan to commercialize gene editing.
▼ + stars: | 2022-09-28 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +8 min

From an uncertain timeline to the clinic to a key patent, here are 5 takeaways from Prime's filing. The company's goal is to advance prime editing, a twist on CRISPR gene editing that could allow for a wider range of edits to DNA. Prime editing is another version of next-generation gene editing. Prime's filing comes in a difficult market for biotechs, but particularly for companies that have yet to start human testing. Jessica Rinaldi/The Boston Globe via Getty ImagesDavid Liu, a Harvard gene-editing scientist who co-invented base editing and prime editing, is currently Prime's largest shareholder.

☆ Some virtual workers are moving abroad without telling their boss or coworkers — and are taking elaborate measures to not get caught
▼ + stars: | 2022-09-25 | by ( Hannah Towey | ) www.businessinsider.com time to read: +4 min

Some virtual workers are moving to another country without telling their bosses or coworkers. One virtual worker who's secretly moving to Mexico told Insider it's worth the risk of being fired. He then created an intricate VPN and router system to conceal his computer's location, according to the outlet. During meetings, she uses a fake Zoom background and takes phone calls in a sound-proof booth to conceal any noise that could give away her location, according to the report. Stefanie Keenan/GettyA recent survey of 1,481 workers found that 40% of HR executives discovered employees working from outside their home state or country in the past year.

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