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☆ Shein made $2 billion in profits last year. That's a lot of fast fashion.
▼ + stars: | 2024-04-01 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

That beats the fiscal year of rival fast fashion company H&M. AdvertisementIt appears we consumed quite a bit of fast fashion last year. AdvertisementFor a generation of shoppers who say they like to be environmentally conscious, that's a lot of fast fashion — an industry that relies on cheap labor but comes with a heavy environmental cost. Still, it was a recognition from the fast fashion giant that it knows who its audience is and what they care about. But for now, it's onward and upward for fast fashion.

Persons: Zers, millennials, —, Barron's, It's, Shein, Janus, Jadrian Wooten Organizations: Service, Financial Times, United Nations Environment, New, Virginia Tech, Sheffield Hallam University, & $ Locations: Zara, England, Guangzhou, China

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

☆ Obama takes a shot at the likes of Musk and Bezos, says we must protect Earth before colonizing Mars
▼ + stars: | 2024-03-14 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Earth would be more liveable than Mars "even after a nuclear war" and climate change, he said. It comes as Elon Musk and Jeff Bezos test mega-rockets that could take humans to the red planet. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The prototype rocket, which is a crucial part of Musk's plan to colonize the red planet, blew up on its previous attempts. The rocket could compete with Starship for NASA's plans to return to the moon ahead of heading to Mars.

Persons: Barack Obama, Elon Musk, Jeff Bezos, Obama, Jeff Bezos's, Glenn Organizations: Service, SpaceX, Amazon Locations: Silicon, Paris, Mars

☆ We Tried to Create a Diverse College Class Without Affirmative Action
▼ + stars: | 2024-03-09 | by ( Aatish Bhatia | Emily Badger | ) www.nytimes.com time to read: +22 min

If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. To create a more diverse class, colleges could … But admissions preferences based on race are no longer legal. We Tried to Create a Diverse College Class Without Affirmative Action Now you can try it, too. In our affirmative action model, just 6 percent of admitted students come from the bottom quartile of the income distribution.

Persons: …, Sean Reardon, Demetra, NaN %, NaN, It’s, “, ”, Richard Kahlenberg, we’re, didn’t, “ We’re, Zack Mabel, we’ve, —, it’s, Richard Sander, Jill Orcutt, Johns Hopkins, they’ll Organizations: Stanford, Penn, Here’s, Colleges, Progressive Policy Institute, White Asian, American Association of Collegiate, University of California Locations: America, Here’s, Alaska, Georgetown, U.C . Merced

☆ A TV chef turned an endangered fish into fritters. Fishermen were furious, say report
▼ + stars: | 2024-03-09 | by ( Cameron Manley | ) www.businessinsider.com time to read: +2 min

A TV chef fried a fish on the endangered species list on an Austrian show. Both the chef and the broadcaster, ORF, have apologized for the incident. During the show, which went out last week, the chef whipped up a dish of potato salad with fish fritters, per the report. But the broadcaster, ORF, was soon hit by complaints from anglers after they discovered the fish used in the dish was the endangered Frauennerfling, a near-extinct species, AFP reported. AdvertisementORF also apologized for "cooking a fish which is protected all year round," claiming it had had "different information," the report said.

Persons: —, Rutilus, Gregor Gravogl Organizations: IUCN, ORF, Service, Agence France, Presse, AFP, International Union for Conservation of Nature Locations: Austrian, AFP, Barron's, Italy, Switzerland, Austria's

☆ The future of the US economy is in the South
▼ + stars: | 2024-02-28 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

If you're searching for the future of the American economy , look South. Population growth is among the key drivers of economic growth , and Americans are clustering in the South. The South had the highest job openings rate and the lowest unemployment rate of any region, per BofA. Houston's energy economy , Miami's proximity to Latin America and growing financial industry , Dallas's blossoming environment of diversified business behemoths, and Nashville's status as a healthcare and tech hub could position each of these Southern cities to thrive in the future. To varying degrees, some Southern cities are already seeing how high housing costs can plague an area with surging demand .

Persons: weren't, who've, Niall Ferguson, Barron's, Houston — Organizations: Service, Bank of America, Business, Texans, Dallas Fed, Houston Locations: Northeast, Midwest, West, Southern, United States, Carolina, Georgia, Florida, South Carolina, Texas, New York, San Francisco, Houston, Dallas, Nashville, Miami, Stanford, America, San Francisco , New York, Los Angeles

☆ Shein and Temu use a loophole to ship millions of packages to the US tax-free. Here's why the tax rule faces increased scrutiny.
▼ + stars: | 2024-01-22 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

The other bill, from Sen. Bill Cassidy and Sen. Tammy Baldwin, would ban de minimis shipments from China. The provision is more likely to change — a prospect that both Shein and Temu have said they support. Jennifer Ortakales Dawkins/InsiderShipping consultancy ShipMatrix estimates that Shein and Temu each ship more than a million packages to the US daily. It added that almost 50% of all de minimis shipments to the US come from China. Related stories"Changes to the exemption could create a paradigm shift for retailers like Temu and Shein," Bank of America analysts wrote in the note.

Persons: minimis, Earl Blumenauer, Russia —, Bill Cassidy, Sen, Tammy Baldwin, Cassidy, Baldwin, Jay Sole, It's, Jennifer Ortakales Dawkins, Shein's, Temu, Shein, Donald Tang, SHEIN, de minimis, they've, Steve Story, Sole, Satish Jindel, ShipMatrix, Jindel Organizations: Business, Customs, Rep, Bank of America, US Chamber of Commerce, Express, UBS, Pinduoduo Holdings, Goods, Shipping, Chinese Communist Party, China . Shipping, Wired, Shein, American Apparel and Footwear Association, Apex Logistics International, Walmart Locations: Xinjiang, China, Russia, Sen, Singapore, Boston, minimis, United States, mstone@insider.com

☆ Call of the Day: Barron's makes bullish call on PepsiCo
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCall of the Day: Barron's makes bullish call on PepsiCoThe "Halftime Report" traders debate the biggest analyst calls of the day.

Organizations: PepsiCo

☆ A mom went viral desperately trying to stop her family from trashing the long-expired items in her refrigerator: 'Have you died yet? No.'
▼ + stars: | 2023-11-28 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Alanna Barron captured the moment her mom tried to fend off a refrigerator purge over Thanksgiving. There was an 8-year-old bottle of sesame oil that Barron's mom argued was fine. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . All in all, Barron told BI nearly two dozen items were trashed.

Persons: Alanna Barron, —, Tyler, they're, Barron, we've Organizations: Service Locations: Los Angeles

☆ A top Tesla investor said he plans to ditch his Model Y for a Rivian after Elon Musk agreed with antisemitic post
▼ + stars: | 2023-11-16 | by ( Grace Kay | Nora Naughton | ) www.businessinsider.com time to read: +4 min

Ross Gerber said he plans to ditch his Model Y for a Rivian over Elon Musk's agreement with an antisemitic post on X. "Getting a flood of messages from clients wanting out of tesla and anything to do with Elon Musk," he wrote on X. Gerber, Musk, and a spokesperson for Tesla did not immediately respond to a request for comment. Gerber's comments came after Barron's reported that Musk's name had been dropped from the APEC CEO Summit speaker list on Thursday. "Elon Musk had a schedule change that prevented him from joining the APEC CEO Summit 2023," a spokesperson told Barrons.

Persons: Ross Gerber, Musk, —, Elon Musk, Gerber, Tesla, Gerber's, Barron's, Barrons, Elon Organizations: Elon, Service, Rivian, Gerber Kawasaki Wealth, Investment Management, APEC, Business, The New York Times, Dealbook Locations: LA

☆ Sorry New York and San Francisco, these 4 red-state cities could be the future of America
▼ + stars: | 2023-11-15 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +2 min

Houston, Dallas, Miami, and Nashville are poised to become economic powerhouses in the US. The future of the energy, healthcare, and finance industries could be in these cities. That's because economic power is flowing to the middle of the country — and places like Houston, Dallas, Nashville, and Miami are becoming hotspots. Just like New York City has Wall Street and San Francisco has Silicon Valley, Houston has its energy economy and Miami has its proximity to Latin America and growing financial industry. Miami, meanwhile, was the city users were most interested in relocating to — Dallas and Houston ranked eighth and tenth, respectively.

Persons: —, Mason, Dixon, Stanford, Niall Ferguson, Barron's Organizations: Houston, Service, San, Hollywood, Dallas Locations: Dallas, Miami, Nashville, New York, San Francisco, Houston, New York City, Silicon Valley, America, Los Angeles, Washington, DC, Franciso , New York City, . Miami

☆ A mystery owner has just put a collection of 56 Porsches up for auction — and they're all white
▼ + stars: | 2023-10-05 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Auction house RM Sotheby's did not disclose the collection's mystery owner. AdvertisementAdvertisementA rare collection of 56 white Porsches is heading to the auction block. Named "The White Collection," the car collector's unusual trove was announced by auction house RM Sotheby's on Tuesday. RM Sotheby's is delighted to announce The White Collection: a collection of nearly 60 rare Porsche sports cars, entirely in white. https://t.co/Mmt5dL5Jep pic.twitter.com/Yh9UxWdiec — RM Sotheby's (@rmsothebys) October 2, 2023The collection "represents over a decade of dedicated collecting by one perfection-focused owner," RM Sotheby's said.

Persons: —, Mmt5dL5Jep, Sotheby's, Barron's, Ferrari, Andreas Birner Organizations: Service, Porsche, Prix, Carrera, Sotheby's, Benz, Guinness, World Records Locations: Houston , Texas

☆ Don't thank the Fed for tackling inflation — it caused the problem, Wharton professor Jeremy Siegel says
▼ + stars: | 2023-10-03 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The Fed shouldn't get credit for tackling the inflation threat, Jeremy Siegel says. The "Wizard of Wharton" blames the Fed for the US money supply soaring and prices surging. The Fed has caused a "permanent loss of purchasing power" for workers and savers, Siegel says. He also underscored the unnecessary pain that the Fed caused by not only buying bonds to stimulate the economy, but also funding the government's spending spree. AdvertisementAdvertisement"Powell and his Fed deserve little praise for fixing a problem they caused," Siegel said in his WisdomTree column.

Persons: Jeremy Siegel, Wharton, Siegel, —, Jerome Powell, that's, Powell Organizations: Fed, Service, Reserve, American Locations: Russia, Ukraine

☆ Insider Today: Apple's new iPhone is here
▼ + stars: | 2023-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

This post originally appeared in the Insider Today newsletter. But the show's real stars were the new versions of Apple's iPhone and Apple Watch. But if you were hoping a new iPhone will send Apple's stock soaring, think again. Prior to Tuesday's event, Apple's shares fell an average of 0.2% on days a new iPhone was announced, according to Barron's. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Bond, Elon Musk's, Justin Sullivan, Octavia Spencer, Tim Cook, Max, Insider's Sarah Jackson, Jordan Hart, Lakshmi, iPhones, Gary Coronado, Jamie Dimon, — Warren Buffett —, Bill Gross, DoubleLine's Jeffrey Gundlach, Pimco, DoubleLine's, Gross, Anna Moneymaker, Thomas Trutschel, isn't, Sundar Pichai, Elon, Walter Isaacson, Read, Kent Walker, Chelsea Jia Feng, Patreon, Naomi Osaka, Shaquille O'Neal, Allegra, Dayquil, Jennifer Aniston, Reese Witherspoon, Yelp, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Jets, Apple, Apple Watch, Getty, Bloomberg, JPMorgan, Wall, Google, Software, Amazon, FDA, North American, Detroit Auto, GMC, Bourbon Locations: Wall, Silicon, Milwaukee, Lakshmi Varanasi, ., China, that's, Latvia, Estonia, Chelsea, Colorado, Arizona, Morocco, New York City, San Diego, London, New York

☆ Vin Fast suffered an $83 billion wipeout after the EV start-up's shares plunged 44% in a single day
▼ + stars: | 2023-08-30 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

VinFast stock plunged 44% Tuesday, reducing its market value by $83 billion. The EV maker's shares are thinly traded and it expects to sell just 50,000 cars this year. Shares in the little-known, Vietnamese company closed 44% lower, but it's still worth about $107 billion – more than double the market cap of Ford. Founder Pham Nhat Vuong still controls 99% of the stock, having issued just 1% of its 2.32 billion shares to the public. Vuong also suffered a massive hit to his paper wealth Tuesday, with VinFast's losses eroding the value of his stake from $141 billion to $74 billion, according to Barron's.

Persons: VinFast, Ford, Pham Nhat Vuong, Vuong Organizations: EV maker's, Service Locations: Wall, Silicon

☆ From Elon Musk to Chinese tech titans, everyone wants Nvidia's GPU chips. There might not be enough to go around.
▼ + stars: | 2023-08-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk has loaded up on Nvidia GPUs for X, xAI, and Tesla. Meanwhile, Chinese tech titans are reportedly scrambling to buy $5 billion worth of the chips. But there are signs emerging that there may not be enough of Nvidia's chips to go around, with multiple top executives warning that demand is massively outpacing supply. Soaring demandThe massive increase in interest in artificial intelligence has been a key factor driving demand for Nvidia's semiconductors. Perhaps the strongest sign that demand for Nvidia's chips is soaring came in May, when it released stellar second-quarter revenue forecasts that smashed Wall Street's expectations by 50%.

Persons: Elon Musk, Biden, Tesla, Adam Selipsky, Matthew Prince, there's, Barron's Organizations: Nvidia, titans, Service, Soaring, New, Research, Financial Times, Elon, Twitter, Web Locations: Wall, Silicon

☆ Domestic airlines are getting crushed because everyone wants to escape to Europe
▼ + stars: | 2023-08-10 | by ( Hannah Towey | Taylor Rains | ) www.businessinsider.com time to read: +5 min

International travel demand is outpacing domestic demand as Americans flock to Europe in 2023. Our international wanderlust may be a worrying trend for domestic airlines — but it makes now the perfect time to buy flights for fall and winter vacations within the US. Low-cost carriers Spirit Airlines , Frontier Airlines , and JetBlue Airways had similar outlooks. Redburn analyst James Goodall said Monday that domestic airlines are likely to feel this pressure for not just months, but years, Barron's reported . Frontier AirlinesAs domestic airlines take a hit, consumers could reap the benefits with cheap fares and fall promotions designed to stimulate demand.

Persons: you've, Hopper, Sonia Bhagwan, they've, Barry Biffle, James Goodall, Barron's, Goodall, — Hopper, Bhagwan, she's, airfare Organizations: Carriers, JetBlue, Bank of America, American Airlines, Delta Air Lines, United Airlines, —, Atlantic, Southwest Airlines, Spirit Airlines, Frontier Airlines, JetBlue Airways, CNBC, Airlines, Southwest, Bloomberg, nab Locations: Europe, Greece, heatwaves, Spain, Italy, Asia, COVID, United, Delta, Texas, Mexico, Caribbean, Paris

☆ Tupperware’s stock price is up nearly 500% in 2 weeks—but think carefully before buying into the hype, says CFP
▼ + stars: | 2023-08-04 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Lately, it seems that retail traders have been focused on Tupperware. The share price of the iconic food container brand has seen a meteoric rise over the past two weeks. That's up nearly 480% from when its stock price hit a 52-week low of $0.61 per share on July 20. Tupperware's rapid rise is being fueled by retail traders who are buying up the stock and driving the price higher, according to Barron's. Other well-known companies have experienced similar boosts in the past, thanks to retail traders too.

Persons: Tupperware Organizations: GameStop, AMC Entertainment

☆ Bud Light lost its crown as America's 'King of Beers' — but it was going to happen even without the conservative boycott
▼ + stars: | 2023-07-17 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Modelo passed Bud Light, which has been the subject of a boycott by conservatives. It recently took the crown from Bud Light, which saw its market share drop to 7%. "Modelo and Michelob Ultra (another Anheuser-Busch brand) both were on track to eventually overtake Bud Light," Maloney wrote, citing long-term market share data. "Everybody kinda figured Bud Light was getting hit by that boycott, so it fell out of No. But Neil Reid, a professor at the University of Toledo who studies the beer industry, told Reuters that the Bud Light boycott is lingering longer than expected.

Persons: Bud Light, El Rey, Bump Williams, influencer Dylan Mulvaney, Jennifer Maloney, Bud Light's, Maloney, Jack Hough, Light, Hough, Corona, Neil Reid Organizations: Modelo, Service, Anheuser, Street Journal, Busch, Fox, Northwestern University, University of Toledo, Reuters, Bud Light Locations: Wall, Silicon, El, Modelo

☆ Layoffs at Dow Jones have Wall Street Journal staffers on edge as the newsroom expects more cuts and changes under top editor Emma Tucker
▼ + stars: | 2023-07-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side in late June. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, Kristina O'Neill, Sarah Ball, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times, . Magazine Locations: Dow Jones, London, Europe, Middle East, Africa

☆ More layoffs have hit Dow Jones, and The Wall Street Journal's newsroom sees changes ahead, including cuts, under top editor Emma Tucker
▼ + stars: | 2023-06-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side last week, the latest in ongoing reductions. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times Locations: Dow Jones, London, Europe, Middle East, Africa

☆ China is likely headed for a lost decade and won't 'eat our economic lunch,' former IMF official says
▼ + stars: | 2023-06-08 | by ( Jason Ma | ) www.businessinsider.com time to read: +3 min

China's economy is stumbling and is likely headed for a lost decade similar to Japan's. That's according to former IMF official Desmond Lachman, who said China may no longer be the world's growth driver. But a lost decade also means "we no longer need to worry that China will eat our economic lunch." "One silver lining of a likely lost Chinese economic decade is that we no longer need to worry that China will eat our economic lunch," Lachman added. "As occurred with the supposed Japanese economic miracle in the 1980s before it, we will find that the Chinese economy had clay feet."

Persons: Desmond Lachman, —, Lachman Organizations: Service, International Monetary Fund, American Enterprise Institute, Federal Reserve Locations: China, Japan, Barron's

☆ Wall Street Journal insiders are bracing for more changes under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. People expect Tucker to overhaul the cumbersome front-page editing process for top enterprise stories and deemphasize commodity news in favor of more investigative pieces, with specifics to come as early as June. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ Newsroom insiders are bracing for changes at The Wall Street Journal under its new top editor, including layoffs that could hit as early as this week
▼ + stars: | 2023-05-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Wall Street Journal staffers are bracing for layoff news as early as this week and other changes under its new EIC. Emma Tucker has shaken up the top editor ranks, and insiders expect changes to the editing process. Wall Street Journal staffers are bracing for layoffs and broader changes under new top editor Emma Tucker. One audio staffer was laid off last week, in keeping with Journal practice to quietly shed people in small numbers. "She's not afraid to ask questions that are challenging Wall Street Journal orthodoxy," a second insider said.

☆ How the president of Abbot Downing tried to save the Wells Fargo unit for the ultra-rich from being folded
▼ + stars: | 2023-05-16 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Wells Fargo folded Abbot Downing, which served the bank's wealthiest clients, in late 2020. In late 2020, Wells Fargo disbanded Abbot Downing, the unit that catered to the bank's wealthiest clients. Abbot Downing was folded into Wells Fargo's private bank, which also serves rich clients, but it wasn't a safe haven. Business Wire via APGinter left Wells Fargo in September 2021 to launch a new registered investment advisor the following March. Some ex-Abbot Downing employees refer to Callan the "new Abbot Downing" for its focus on the ultra-rich set.

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