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☆ I tried a job simulation tool to learn about working as a consultant at BCG
▼ + stars: | 2024-07-04 | by ( Tim Paradis | ) www.businessinsider.com time to read: +2 min

That's because after using a job simulation tool for a short time, I have a better sense of what working at the prestigious consulting firm might be like. This story is available exclusively to Business Insider subscribers. He told Business Insider that, growing up in a small town in Australia, he didn't come from a line of bankers, lawyers, or accountants. In the roughly 90 minutes I spent using Forage, the tool made me do some work. The tool also made me think like a consultant — or at least try to.

Persons: —, they'd, Goldman Sachs, Tom Brunskill, Brunskill Organizations: Service, Boston Consulting, KPMG, JPMorgan, Business, EAB Locations: San Francisco, Australia

☆ As employee confidence in AI's potential grows, so does their anxiety
▼ + stars: | 2024-06-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Workers are more confident — and anxious — about AI than they were a year ago, a BCG survey found. Leaders are also more confident and trained in AI than their workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . According to a new report from Boston Consulting Group, workers' confidence in generative AI has grown over the past year — but so has their anxiety. It found that confidence in generative AI surged 16% between 2023 to 2024, but that anxiety did too: about 5%.

Persons: — Organizations: Companies, Service, Boston Consulting Group

☆ AI is everywhere, and businesses don't know where to start. Here's what consultants are telling clients.
▼ + stars: | 2024-06-28 | by ( Lakshmi Varanasi | Tim Paradis | ) www.businessinsider.com time to read: +8 min

Some 900 of PwC's top 1,000 consulting clients are now working with the firm on incorporating AI into their businesses, a spokesperson told Business Insider. Even as some companies focus on how AI might rewrite corporate playbooks, some businesses are asking consultants how to get started. Advertisement"Many CIOs are afraid that they don't have the right skills," he told BI. Where to beginMany companies are still determining how they might use AI and GenAI, according to several consultants. This enables greater seamlessness down the line, and that is where the magic lies," he told BI.

Persons: —, Ben Ellencweig, Allison Bailey, Bailey, Greg Sward, They're, Jim Rowan, Rowan, Vlad Lukic, Roy Singh, Joe Atkinson, Atkinson, Deloitte's Rowan, Bain's Singh, PwC's Atkinson, he's, Singh Organizations: Service, Business, McKinsey & Company, Boston Consulting, KPMG US, Deloitte Consulting, Bain & Company, Companies, Carrefour, & $

☆ The A.I. Boom Has an Unlikely Early Winner: Wonky Consultants
▼ + stars: | 2024-06-26 | by ( Tripp Mickle | ) www.nytimes.com time to read: +1 min

But the team was uncertain about how, so it turned to Boston Consulting Group for help. Reckitt’s request was one of hundreds that Boston Consulting Group received last year. It now earns a fifth of its revenue — from zero just two years ago — through work related to artificial intelligence. “There’s a genuine thirst to figure out what are the implications for their businesses,” said Vladimir Lukic, Boston Consulting Group’s managing director for technology. The next big boom in tech is a long-awaited gift for wonky consultants.

Persons: ChatGPT, “, ”, Vladimir Lukic Organizations: Boston Consulting Group, Boston Consulting, McKinsey & Company, IBM, Accenture

☆ AI Is Set to Dominate Cannes Lions Ad Festival This Year
▼ + stars: | 2024-06-13 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Read previewArtificial intelligence is expected to be the topic du jour at Cannes Lions this week, when the ad industry descends on the French Riviera for its annual shindig in the sun. Businesses are exploring how they can use AI to perform tasks like copywriting, research, and automating their ad campaigns. A Cannes Lions spokesperson said the festival is expecting 12,000 delegates, though many more ad execs and vendors forgo the official festivities to hobnob at the fringe events. Cannes Lions has set its own rules around AI. "Those who will win will figure out the right mix of AI plus the right influencers plus the right concepts," MediaLink's Wagman said.

Persons: —, there's, Klarna, Wayne Levings, Mark Wagman, Wagman, Jessica Apotheker, Apotheker, Scarlett Johansson, David Droga, Mira Murati, Vidhya Srinivasan, Alexander Chen, Greg James, Publicis, Anthony Yell, Razorfish, Yell, BCG's Apotheker, Queen Latifah, Lando Norris, John Legend, Chrissy Teigen, Deepak Chopra, Jason, Travis Kelce, Lenny Kravitz, Janelle Monáe, MediaLink's Wagman Organizations: Service, Cannes Lions, Lions, Business, Cannes, United Talent Agency, Google, Microsoft, Adobe, Boston Consulting Group, Palais, Accenture, OpenAI, Google Creative, North America, Publicis Groupe, influencers Locations: Americas, MediaLink, Cannes

☆ The 'promised land' of stable, high-paying jobs for recent grads is falling apart
▼ + stars: | 2024-06-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +10 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Austin Wang, a class-of-2025 computer-science major at Yale University, said students were "scared that engineering roles will be replaced in the future." Handshake found that fewer prospective business graduates were applying to consulting roles and that more were seeking positions in customer relations, marketing, and analytics compared with last year. Handshake's analysis suggested tech job postings geared toward fresh graduates fell by 30% compared with last year. Advertisement"It's quite bad for entry-level jobs in general but even worse for international students," she said.

Persons: —, It's, Goldman Sachs, Morgan Stanley, Austin Wang, Fabrice Coffrini, Beth Hendler, Matthew Park, Anika Nair, Rutgers University . Austin Wang, Anika Nair Yale's Wang, Wang, Amr Alfiky, you'll, Adnan Hussain, Christine Cruzvergara, Richard Carruthers, I've Organizations: Service, Management, Big Tech, National Association of Colleges, Employers, Business, New York Times, Yale University, McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, McKinsey, Getty Images Industry, Yale, Tech, Companies, Ivy League, Rutgers University ., Rutgers University, JPMorgan —, Investment, Citigroup, JPMorgan, Deutsche Bank, Finance, Reuters, National University of Singapore, Imperial College London, KPMG, Deloitte, HSBC, Amazon Web Services Locations: Wall, AFP, Singapore

☆ Fintech targeted by climate skeptics banks $37 million from likes of UBS, Commerzbank
▼ + stars: | 2024-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

From left to right: Johan Pihl, Doconomy's chief creative officer and co-founder, and Mathias Wikstrom, chief executive officer and co-founder. DoconomySwedish climate-focused financial technology startup Doconomy told CNBC on Thursday that it's raised 34 million euros ($36.9 million) from leading European banks, including UBS and Commerzbank . Credit ratings agency S&P Global came on board as a new investor, while existing shareholders Motive Ventures, PostFinance and Tenity also participated. watch nowDoconomy plans to use the fresh cash to drive expansion into North America and roll out new products, CEO and co-founder Mathias Wikstrom told CNBC in an interview. Mathias Wikstrom CEO, Doconomy

Persons: Johan Pihl, Mathias Wikstrom, it's, Tenity, Wikstrom, Jordan Peterson, It's, Doconomy Organizations: CNBC, UBS, Commerzbank, UBS Next, P Global, Motive Ventures, PostFinance, Boston Consulting Group, Mastercard, United Nations, Dreams Technology, Citi Ventures, Ikea Locations: Sweden, North America

☆ A wave of AI 'acquihires' is coming. Here's who could be looking for deals.
▼ + stars: | 2024-05-30 | by ( Rebecca Torrence | Riddhi Kanetkar | ) www.businessinsider.com time to read: +8 min

But the tech giant's play underscores the market's demand for tech talent — and venture capitalists expect a wave of "acquihires" to hit the AI ecosystem later this year. M&A dealmaking among AI startups is already off to a strong start this year, with 55 exits recorded in Q1 of 2024, per Crunchbase data. AdvertisementThe majority of AI startups are overpriced, said Konstantin Vinogradov, general partner at Runa Capital. AI startups with revenue in the single-digit millions that raised money at unicorn valuations, Dash said, might not even have that option. Those deals don't make sense for buyers, he said, which could lead Big Tech companies or other AI startups to poach their talent instead.

Persons: —, Inflection's, Ayangar, Konstantin Vinogradov, Somesh Dash, overshadowing, Shmuel Chafets, Sivesh Sivakumar, Shaun Johnson, Naveen Rao, Sivakumar, Johnson, PhotoRoom, Aravind Srinivas, Mike Smeed, Chafets, Dash, they'll Organizations: Service, Microsoft, Business, Investors, Runa, Big Tech, Apple, Target, Ventures, Accenture, Boston Consulting Group, Intuit, Nike, American Express, Safeway, InMotion Ventures, Disney, Netflix Locations: OpenOcean, Snowflake, Databricks

☆ 3 ways successful people work with frustrating colleagues, says Stanford-trained strategist
▼ + stars: | 2024-05-24 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Practical realists and head-in-the-cloud dreamers don't always get along in the workplace. The problem: You need both for your business to succeed, according to Beth Viner, a managing director and partner at Boston Consulting Group's tech, design and business unit. At times, that puts them at odds with their realist counterparts, the "doers" who build and sustain companies. In her talk, Viner largely addressed the dreamers in the room — but the lessons she shared are applicable to everyone. Here are her top three tips for working with those colleagues you may find the most frustrating.

Persons: Beth Viner, Viner, York & San Francisco, DON'T, she's Organizations: Boston Consulting, Stanford Graduate School of Business, York & San, doer Locations: York

☆ What Do Students at Elite Colleges Really Want?
▼ + stars: | 2024-05-22 | by ( Francesca Mari | ) www.nytimes.com time to read: +1 min

“Freshmen after spending 0.02 seconds on campus,” read the caption, posted in 2023 to the anonymous messaging app Sidechat. The campus in question was Harvard, where, at a wood-paneled dining hall last year, two juniors explained how to assess a fellow undergraduate’s earning potential. It’s easy, they said, as we ate mussels, beets and sautéed chard: You can tell by who’s getting a bulge bracket internship. One of the students paused, surprised that he was unfamiliar with the term: A bulge bracket bank, like Goldman Sachs, JPMorgan Chase or Citi. Not to be confused with M.B.B., which stands for three of the most prestigious management consulting firms: McKinsey, Bain and Boston Consulting Group.

Persons: ”, sautéed, who’s, ” Benny Goldman, Goldman Sachs Organizations: Harvard, JPMorgan Chase, Citi, The, McKinsey, Bain, Boston Consulting Group Locations: sautéed chard

☆ In the rush to adopt AI, ethics and responsibility are taking a backseat at many companies
▼ + stars: | 2024-05-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Companies are rapidly integrating generative AI technology to boost productivity. AdvertisementCompanies have been racing to deploy generative AI technology into their work since the launch of ChatGPT in 2022. She added that the "demand for AI governance and risk experts is outpacing the supply." "The venture capital environment also reflects a disproportionate focus on AI innovation over AI governance," Singh told Business Insider by email. But with the pace of innovation in AI, government regulations may not be enough right now to ensure companies are protecting themselves.

Persons: —, haven't, Tad Roselund, Nanjira Sam, Navrina Singh, Singh Organizations: Service, Companies, Microsoft, Boston Consulting Group, MIT Sloan Management, Stanford's Institute for, Intelligence, Biden Administration Locations: EU

☆ Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds
▼ + stars: | 2024-05-08 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

Billions in federal subsidies for semiconductor manufacturers are expected to help reverse a decades-long decline in America’s share of global chip manufacturing. As a result, America’s share of world chip manufacturing is expected to rise for the first time in decades, to 14 percent by 2032, up from about 10 percent today. The report found that much of the industry’s growth would be fueled by the bipartisan CHIPS Act, which gave the Commerce Department $39 billion to encourage semiconductor manufacturing in the United States. Absent that legislation, America’s share of global chip manufacturing would have fallen to 8 percent by 2032, according to the report. The United States is also expected to see a substantial boost in the domestic production of advanced logic chips, which are used in artificial intelligence, smartphones and autonomous vehicles.

Persons: Biden Organizations: Semiconductor Industry Association, Boston Consulting Group, Commerce Department Locations: United States

☆ The pre-owned luxury watch market is thriving
▼ + stars: | 2024-04-24 | by ( Fawnia Soo Hoo | ) edition.cnn.com time to read: +11 min

Granted, the pandemic-induced second hand luxury watch boom peaked back in March 2022, but the market is still going strong, and price levels remain higher than pre-Covid times. “(They’re) a crucial demographic for the growth and evolution of the pre-owned and vintage luxury watch industry,” added Paul Altieri, founder & CEO of multi-brand online luxury marketplace Bob’s Watches. Don't be shy," said Dimepiece's Brynn Wallner of new buyers' potential nerves when it comes to luxury watch stores. How can you tell if a luxury pre-owned watch is the real deal? “Luxury watches of this caliber will go from one generation to the next to the next to the next,” he explained.

☆ Investors are fearful. They shouldn’t be
▼ + stars: | 2024-04-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

The economy has been extraordinarily resilient for the past few years — consistently proving the naysayers wrong, he says. For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong. Investors have been worrying about the Federal Reserve keeping rates higher for longer. I speak with many institutional investors, and I don’t see them folding in fear. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.

Persons: ”, Philipp Carlsson, there’s, Carlsson, Szlezak, they’re, I’m, it’s, I’ve, we’re, TikTok, Brian Fung, Joe Biden, Tesla, Chris Isidore, Peter Valdes Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Boston Consulting, ByteDance, NHTSA Locations: New York, Europe, Ukraine, Israel, Washington

☆ New data centers require billions of dollars in utility system upgrades. You may end up paying for it.
▼ + stars: | 2024-04-18 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +15 min

A record surge of data center construction is underway to provide the computing and storage that underpins society's fast-expanding digital footprint and powers artificial intelligence. In areas of the country where data centers have clustered, utilities have unveiled plans to spend billions of dollars to keep up. asked David Springe, the executive director of the National Association of State Utility Consumer Advocates. "Then you have the data centers that are having exponential load growth," Nelson said. Data centers also don't deliver the number of long term jobs – a key yardstick for public benefits – that other industries do.

Persons: Mike DeWine, David Springe, they're, Ryan Augsburger, Augsburger, Ron Nelson, Strategen, ratepayers, Nelson, Steve Helber, That's, PJM, David Lapp, Lapp, Jeffrey Shields, Shields, Kantele Franko, Shelby Moore, Meta, behemoth Blackstone, QTS, John Gavan, Daniel Tait, Tait Organizations: Amazon, Ohioans, Business, Wall, Boston Consulting Group, National Association of State, Consumer, Ohio Manufacturers ' Association, Web Services, Energy, Dominion Energy, Federal Energy Regulatory Commission, Tech, Wall Street titans, American Electric Power, Buckeye Power, AEP, Buckeye, AEP Ohio, Staff, Intel, Policy Institute Locations: Ohio, ratepayers, Chester , Va, Virginia, PJM, Chicago, New Jersey, New York City, Maryland, West Virginia, Pennsylvania, Columbus , Ohio, Denver, New Albany , Ohio, Minnesota, Columbus, Mississippi

☆ A 'deeply misguided' political belief is weakening the economy, says Secretary of Commerce Gina Raimondo
▼ + stars: | 2024-04-18 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +5 min

"Child care is core to enabling women to work," she said. She explained that if she stayed in her career, her entire post-tax pay would have gone to child care, and all of the child care providers in her area were waitlisted. I didn't really go through this, so how many people are really thinking child care is an issue? "If you want a strong economy, women have to participate and in order for that to happen, we need strong child care," she said. Raimondo noted that half of Americans live in a "child care desert," with not enough services available at a cost that is affordable.

Persons: Gina Raimondo, Joe Biden, Raimondo, —, CNBC's Sara Eisen, Jessica Chang, Chang, CNBC's Julia Boorstin, We've, it's Organizations: Semiconductors, America, White, Capitol, U.S, Samsung, CNBC's, Changemakers, U.S . Army, CNBC Changemakers, Boston Consulting Group, U.S . Chamber of Commerce, Commerce Department Locations: WASHINGTON, DC, Washington ,, Rhode, U.S, Texas, Korean, New York City, Korea

☆ Tesla can't outrun the EV slowdown
▼ + stars: | 2024-04-02 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

AdvertisementElectric-vehicle leader Tesla is finally starting to feel the pinch of a slowdown in EV sales that is already rocking the rest of the industry. This rough quarter is the first sign that the EV leader is not immune to a slowdown in electric vehicle sales that has dogged its competitors since the latter half of 2023. Related storiesSo far, Tesla has largely been able to keep up with a changing demographic of electric vehicle shoppers by flexing its hefty profit margins to lower prices. Is Tesla ready for the next wave of EV buyers? For the newest electric car shoppers in the market, simply lowering prices may not be enough to win them over.

Persons: —, Tesla, Elon, Deutsche Bank's Emmanuel Rosner Organizations: EV, Service, Boston Consulting Group, Deutsche

☆ Detroit went all-in on big, expensive EVs nobody wants. Here's what the data shows they'd rather buy.
▼ + stars: | 2024-03-31 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

Read previewWhen the automotive industry started looking toward an electrified future, Detroit automakers decided to throw their hat in the ring with what they do best: Pickup trucks. Electric pickup truck pioneer Rivian has also warned of slowing growth, and Elon Musk's Tesla already appears to be offering some purchase incentives for the Cybertruck. Only four EVs sell in that range at the moment, according to Edmunds, and none of them are sold by Detroit automakers. On average, EVs sold for around $61,700 last year, $14,250 more expensive than the typical price paid for non-electric vehicles, Edmunds said. AdvertisementGM is taking another approach, pulling back on EV production as the company plans to bring more hybrids (a segment that has seen demand increase while EV demand wanes) to the North American market later this year.

Persons: —, Ford, Rivian, Elon Musk's Tesla, Edmunds, Jessica Caldwell, EVs, BCG, Jim Farley Organizations: Service, Detroit, Ford, Business, GMC, EV, Associated Press, Edmunds, Detroit automakers, Leaf, Fiat 500e, Hyundai Kona Electric, Boston Consulting Group, Bloomberg, North Locations: Detroit, Edmunds

☆ ChatGPT’s boss claims nuclear fusion is the answer to AI’s soaring energy needs. Experts say not so fast
▼ + stars: | 2024-03-26 | by ( Laura Paddison | ) edition.cnn.com time to read: +8 min

Yet according to Sam Altman, head of ChatGPT creator OpenAI, there is a clear solution to this tricky dilemma: nuclear fusion. Nuclear fusion — the process that powers the sun and other stars — is likely still decades away from being mastered and commercialized on Earth. A section of JT-60SA, a huge experimental nuclear fusion reactor at Naka Fusion Institute in Naka city of Ibaraki Prefecture, Japan, on January 22, 2024. The sector was responsible for around 2% of global electricity demand in 2022, according to the IEA. But, he cautioned, this doesn’t necessarily mean AI’s electricity demand will fall.

Persons: Sam Altman, OpenAI, Altman, “, Lex Fridman, ” Altman, —, Alex de Vries, ”, Aneeqa Khan, ” Khan, Philip Fong, Vries, ” de Vries, Michael Khoo, “ We’re, Khoo, Yiannis Kourtoglou, Sen, Ed Markey, ” Markey, ” Khoo Organizations: CNN, Vrije Universiteit Amsterdam, University of Manchester, “, JT, Naka Fusion, Getty, International Energy Agency, Boston Consulting, Reuters, Microsoft, OpenAI, Boston Consulting Group, Google, Princeton, ” Locations: “, Naka, Ibaraki Prefecture, Japan, AFP, Pascal, Nicosia, Cyprus

☆ Healthcare deals are picking up as VCs finally reopen their wallets. Here's what they are betting on.
▼ + stars: | 2024-03-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Investors aren't anticipating healthcare funding to surge to anything resembling 2021 levels this year, and fewer deals could mean shutdowns for many companies running low on cash. Multiple healthcare startups have announced raises this year at Series B and beyond. Investors said there's now a higher bar for which startups get venture funding compared to 2021, however. Exits and shutdowns aheadWhile a number of biotech startups have jumped into the public markets already this year, the IPO window for healthcare startups has remained firmly shut. Still, many investors are optimistic that a few healthcare startups will test the waters later this year.

Persons: Anargha Vardhana, There's, they're, Christina Farr, haven't, Richard Drury, Scott Barclay, Shiv Rao, Vardhana, there's, Farr, Sara Choi, Ritankar Das, Supriya Jain, Jain, Barclay Organizations: Business, Insight Partners, Investors, Entrepreneurs, Wing Venture Capital, Boston Consulting Locations: orthopedics

☆ A New Surge in Power Use Is Threatening U.S. Climate Goals
▼ + stars: | 2024-03-13 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +14 min

Nathan Howard for The New York TimesIn California, electric vehicles could soon account for 10 percent of peak power demand. AP Photo/Mike StewartIn interviews, utility executives say gas is needed to back up wind and solar power, which don’t run all the time. Gas plants can sometimes be easier to build than renewables, since they may not require new long-distance transmission lines. “It’s going to take a diversified fleet.”Mr. Mitchell noted that Georgia Power was planning a large build-out of solar power and batteries over the next decade and would offer incentives to companies to use less power during times of grid stress. The tech companies and manufacturers that are driving up electricity demand could also play a major role, experts say.

Persons: ”, Daniel Brooks, Nathan Howard, Lauren Justice, Biden’s, “, Tyler H, Norris, Mr, John Wilson, Ken Seiler, Seiler, Devin Hartman, Duke, Kendal Bowman, Duke Energy’s, it’s, we’ve, Georgia Power, It’s, Greg Buppert, Megan Varner, Mike Stewart, Aaron Mitchell, “ It’s, Mitchell, Heather O’Neill, Brian Janous Organizations: Electric Power Research Institute, The New York Times, Duke University, Biden, Utilities, North American Electric Reliability Corporation, Boston Consulting, Dominion Energy, Nationwide, R Street Institute, The New York Times Soaring, Duke Energy, Georgia, Southern Environmental Law Center, AP, Dominion, Georgia Power, Advanced Energy, Microsoft Locations: America, California, Virginia, Georgia, North Carolina, South Carolina , Tennessee, Kansas, Northern Virginia, Arizona, Texas, Illinois, New Jersey, York City, PJM, “ Texas, Ashburn, Va, Dalton , Ga, Dalton, Duke

☆ AI helps boost creativity in the workplace but still can't compete with people's problem-solving skills, study finds
▼ + stars: | 2024-02-21 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

The more than 750 study participants were given real tasks, including "creative product innovation" assignments. The study found that people using AI faired much better than those working without it when it came to creative product innovation tasks. About 90% of the participants improved their performance when using AI for any task involving ideation and content creation. People's problem-solving skills far outweigh the help offered by AI, Candelon said. They will get replaced by humans using AI," he told the outlet.

Persons: —, François Candelon, Candelon, didn't Organizations: Service, Gemini, Boston Consulting, MIT, Wharton, Harvard Business School, University of Warwick

☆ More than 100 years since the Black Wall Street massacre, Tulsa is creating a haven for entrepreneurs
▼ + stars: | 2024-02-16 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

Overlaid on that picture is the company name, Grier Shoe Shop, and its address — which is part of an area known as Black Wall Street. With these ventures, she's part of a growing class of Black entrepreneurs tapping into Tulsa's history for inspiration and resources for support. He also won a grant from a Black Wall Street organization. The Black Wall Street Mural in the Greenwood district of Tulsa, Oklahoma, on Friday, June 19, 2020. Greenwood, known as Black Wall Street, was one of the most prosperous African-American enclaves in the U.S. before it was burned down by a white mob in 1921.

Persons: Venita Cooper, Parnia Mazhar, Grier, Silhouette, They've, Cooper, Dominick Ard'is, George Floyd, Ashli Sims, she's, Sims, North Martin Luther King, Edna Martinson, It's, Martinson, LaTanya White, he's, Adesanya, Grant Warner, James Lowry, Lowry, who's, Greenwood, Christopher Creese Organizations: Silhouette, NBC News, Tulsa, Build, Art, NBC, North Martin Luther King Jr, Ku Klux, House, Art Basel, Southwest, Black, Stanford, National Bureau of Economic Research, Creative, CNBC, Harvard Business School, Center for Black Entrepreneurship, Black Economic Alliance Foundation, Boston Consulting, Bloomberg, Getty Locations: Greenwood, Tulsa , Oklahoma, TULSA, Tulsa, North, Miami, South, Austin, U.S, PalmPlug, Seattle, America

☆ Japan and the UK are in recessions. Is the US next?
▼ + stars: | 2024-02-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —And just like that, two of the world’s largest economies are in technical recessions. On Thursday, Japan and the UK both reported their second consecutive negative quarters of gross domestic product, fitting the widely agreed-upon definition of a recession. In 2022, the nation’s population declined by 800,000, marking the 14th consecutive year of contraction. In the UK, however, population and wage growth weren’t sufficient to stave off a drop in consumer spending, one of the main drivers of that economy. In the past two quarters, the nation’s economy experienced much higher than expected GDP growth, due in large part to robust consumer spending.

Persons: Paul Donovan, ” Donovan, Kazuhiro Nogi, ”, didn’t, Jerome Powell, “, it’s, there’s, Powell, Philipp Carlsson, doesn’t, “ it’s, Carlsson Organizations: New, New York CNN, UBS Global Wealth Management, Getty, National Bureau of Economic Research, don’t, US Federal Reserve, Boston Consulting Locations: New York, Japan, Germany, AFP, Ukraine

☆ Chinese consumers are about to return from the holidays. That doesn't mean the economy will pick up.
▼ + stars: | 2024-02-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

AdvertisementChina's economy and markets were weak coming into 2024, but investor sentiment could worsen after the ongoing Chinese New Year break. "Service consumption growth will likely slow sharply after the Chinese New Year holiday on fading pent-up demand and weakening consumer confidence," the economists wrote. Authorities have pulled more than a dozen moves since January to try to stabilize the stock market rout and support downbeat property market demand amid its real-estate crisis. After all, there were suggestions earlier that authorities are considering a stabilization fund to rescue the flailing stock market. AdvertisementMainland stock markets are closed this week for public holidays.

Persons: —, Rich Lesser, Lesser, Hang, Xi Jinping Organizations: Beijing, Service, Chinese Ministry of Commerce, Nomura, Boston Consulting, Hang Seng China Enterprises, Authorities Locations: China, Beijing, Hong Kong

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