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☆ Why 7 prominent VCs are investing millions in new social startups like Diem, Lex, and 222
▼ + stars: | 2024-03-01 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +8 min

Mervana Parekh is a principal at Acrew and has invested in social startups like Diem, Afterparty, and Anything World. Best Nights VC. Nichols is a founding managing partner at MaC, which recently invested in social startups like Spill and Swsh. Boyce has backed a slew of new social startups, including Diem, Lex, Koodos Labs, and Swsh, alongside associate Rhian Horton. In 2024, Best Nights is looking to invest in companies that facilitate travel experiences after hearing people say their best nights have happened during trips or vacations, said de Silva.

Persons: —, Connie Chan, Mervana Parekh, Peter Boyce II, Marlon Nichols, Catalyst, Web3, Peter, Diem, Afterparty, Lorrain de Silva, Andrew Kahn, Miley Cyrus, Lorde, Kahn, Aaron Matusow, Dan Kruchkow, Nichols, Elizabeth Weil, Kevin Weil, John Smothers, Boyce, Lex, Rhian Horton, Lorrain, Silva, BestNights, Aaron Leithäuser, Gen Z, Peter Boyce, de Silva, Acrew Organizations: Service, Business, Acrew, Stellation, MaC Venture, VCs, Stanford University, Startup, Pudgy Penguins, Crush Ventures, VC, Crush, MaC Venture Capital, MaC, Catalyst, Koodos Labs, Big Tech Locations: 1kx, San Francisco , New York, Lisbon, Acrew, San Francisco, Berlin, Los Angeles and New York, Los Angeles, New York, Rythm

☆ Panera Bread is promising bigger portions and lower prices in its 'largest menu transformation ever'
▼ + stars: | 2024-03-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

It includes new and improved menu items with bigger portions. Panera is cutting some items to streamline its menu, including its flatbreads. AdvertisementPanera Bread has unveiled its "largest menu transformation ever," including new and improved menu items, bigger portions, and some lower prices. It's adding nine new menu items, including a Ciabatta Cheesesteak, Bacon Mac and Cheese, and a Southwest Chicken Ranch Salad. This story is available exclusively to Business Insider subscribers.

Persons: —, Panera, Bacon Mac Organizations: Service, Business

Uncertainty around when the Federal Reserve will start cutting rates has kept mortgage rates elevated in recent weeks. This week, average 30-year mortgage rates ticked up four basis points to 6.94%, according to Freddie Mac. Once inflation gets closer to the Fed's 2% target rate and the central bank starts lowering its benchmark rate, mortgage rates should go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, we'll, Fannie Mae Organizations: Federal Reserve, homebuying, Commerce Department, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ Fashion icon Iris Apfel dies at 102
▼ + stars: | 2024-03-01 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +5 min

Apfel died on Friday at the age of 102, according to a post on her verified Instagram page. “I go at it full, I’m very passionate about what I do,” Apfel told CNN in an interview in 2018. Jemal Countess/WireImage/Getty Images“(Styling the White House) was a relatively easy job actually, because everything had to be as close as humanly possible to the way it was,” Apfel told the Guardian in 2015. The exhibition, “Rara Avis (Rare Bird),” was the first time the museum had paid tribute to a living woman who was not a fashion designer. Apfel front row at New York Fashion Week with model Karolina Kurkova in 2016.

Persons: Iris Apfel, Apfel, Stu Loeser, “, ” Apfel, Iris, Samuel, Carl Apfel, ”, Estée Lauder, Greta Garbo, Jemal, WireImage, Jackie Kennedy, Harold Koda, Koda, “ Rara, Karolina Kurkova, Michael Stewart, Kate Spade, Kloss, Joan Smalls, Chrissy Teigen, Bella, Gigi Hadid, … Organizations: CNN, New York Times, Guardian, New York’s Metropolitan Museum of Art, Met, “ Rara Avis, New York, MAC Cosmetics, Home Shopping, Vogue Italia, IMG Locations: Palm Beach , Florida, Queens , New York

☆ Mortgage rates edge closer to 7%, dampening start of spring homebuying season
▼ + stars: | 2024-02-29 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Last week, mortgage applications dropped 5.6% from the week before, according to the MBA. Higher home prices pushed loan amounts higher in January, offsetting what was a monthly decline in mortgage rates, said Edward Seiler, MBA’s associate vice president for housing economics.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Khater, Bob Broeksmit, Mike Fratantoni, Edward Seiler, MBA’s, Lawrence Yun Organizations: DC CNN —, “, Federal Reserve, Mortgage, Association, National Association of Realtors Locations: Washington

☆ Taylor Swift visited Travis Kelce privately at the stadiums before their relationship went public, a Kansas City Chiefs coach said
▼ + stars: | 2024-02-29 | by ( Amanda Goh | ) www.businessinsider.com time to read: +1 min

Taylor Swift visited Travis Kelce at the stadiums before their relationship went public. Dave Merritt, the Chiefs' defensive backs coach, commented on the relationship on "The Sports Shop With Reese and K-Mac" podcast. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTaylor Swift quietly visited Travis Kelce at the stadiums before their relationship went public, a Kansas City Chiefs coach said. "She was coming into the stadiums without people really knowing until the camera put a big spotlight on it," Merritt said.

Persons: Taylor Swift, Travis Kelce, Dave Merritt, Reese, Kelce, —, Merritt Organizations: Chiefs, Service, Kansas City Chiefs, Business

☆ Declining boomer ownership will free up 9.2 million homes by 2035, Freddie Mac says
▼ + stars: | 2024-02-28 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Declining boomer ownership will free up 9.2 million homes by 2035, a Freddie Mac report found. The 32 million homes owned by boomers will drop to 23 million by 2035, when the oldest members of the group are pushing 90. A new report from Freddie Mac estimates that declining homeownership for the group will free up 9.2 million homes by 2035. The generation accounts for about 21% of the total US population, but they own 38% of American homes, Freddie Mac found. The 32 million homes owned by the generation as of 2022 will drop to 23 million in 2035, when the oldest boomers will be close to 90 years old.

Persons: Freddie Mac, —, Meredith Whitney Organizations: Service, American Consumer Survey

☆ I'm an American who ate breakfast, lunch, and dinner at McDonald's in Japan. All 3 meals blew away the chain's US offerings.
▼ + stars: | 2024-02-28 | by ( Nickelle Tilley | ) www.businessinsider.com time to read: +1 min

I'm an American who's eaten my way through McDonald's breakfast, lunch, and dinner menus in Japan. The global fast-food chain offers limited-time menu items exclusive to Japan. After visiting McDonald's stores in five countries, the ones in Japan stood out as my favorite. After eating McDonald's in five different countries, I ranked the ones in Japan in the top spot. So, I thought it would be fun to visit my local McDonald's for breakfast, lunch, and dinner and get menu items I've never tried before.

Persons: I'm Organizations: Mac Locations: American, Japan, North Carolina, Okinawa

☆ 13 signs your Hermès bag is a fake, from a luxury reseller who's trained to spot counterfeits
▼ + stars: | 2024-02-28 | by ( Robin Madell | ) www.businessinsider.com time to read: +9 min

Alexis Clarbour has been buying and selling Hermès bags for a decade and knows how to spot a fake. I took an operations role at an e-commerce marketplace called Portero, where my passion for luxury handbags, specifically Hermès bags, began. Under a loupe, the engraving may look chiseled and not as smooth as a genuine Hermès bag. Serial codeEvery Hermès bag has a serial code inside the bag. There are no deals — if someone offers a new Hermès bag below market in the secondary market, I'd recommend staying away.

Persons: Alexis Clarbour, authenticating, It's, Chanel, reselling, Hermès, —, we've, Kelly, Birkin, they've, it's, sloppily, there's, Le Duc, Price, I'd Organizations: Madison Avenue Couture, Nasdaq, MAC, Madison Avenue, Madison Locations: New York City, Hermès

☆ Gary Sinise’s son, Mac Sinise, dies aged 33
▼ + stars: | 2024-02-28 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Mac Sinise, the son of “Forrest Gump” actor Gary Sinise, has died at the age of 33 following a long illness with a rare form of cancer, his family has announced. He died on January 5 and was laid to rest on January 23, according to a tribute published by the Gary Sinise Foundation, which offers support to wounded veterans of the military. “Like any family experiencing such a loss, we are heartbroken and have been managing as best we can,” wrote Sinise. Gary Sinise Foundation“This began a long battle that disabled him more and more as time went on,” wrote Sinise, eventually leaving Mac unable to play the drums. In addition to perhaps his most famous role as Lt. Dan in “Forrest Gump,” Gary Sinise has appeared in movies “Apollo 13,” “The Green Mile” and “Of Mice and Men,” as well as television series “CSI: NY.”

Persons: Mac Sinise, “ Forrest Gump, Gary Sinise, ”, ” Mac, Mac, McCanna Anthony Sinise, Dan Band, “, …, ” Sinise, Dan, ” Gary Sinise Organizations: CNN, Gary, Gary Sinise Foundation, Chordoma, National Cancer Institute Locations: United States

Mortgage rates have dropped a bit from last week's highs, but they haven't come down enough yet to substantially improve affordability for borrowers. Average 30-year mortgage rates dropped to 6.34% in January, according to Zillow data, a low not seen since last spring. If the core PCE price index comes in hotter than expected, mortgage rates could trend back up a bit. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.29% last week, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's, they've Organizations: National Association of Realtors, Federal, Core PCE, Zillow, Federal Reserve Locations: Chevron

☆ Kellogg’s CEO faces backlash for saying people should eat cereal for dinner to save money
▼ + stars: | 2024-02-26 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

In an interview with CNBC last week, WK Kellogg CEO Pilnick said the company was advertising cereal for dinner to consumers looking for more affordable options. CNBC host Carl Quintanilla asked Pilnick if encouraging weary customers to eat cereal for dinner could “land the wrong way.”Pilnick thought the opposite. Cereal prices alone increased 28% since January of 2020, according to the Bureau of Labor Statistics. Food brands under fireDespite the CEO’s assurances, Kellogg’s advertisement and Pilnick’s comments have led to a backlash on social media. They note that boxes of popular cereals now cost more than $7 and cereal is not an adequate substitution for a full dinner.

Persons: New York CNN —, Gary Pilnick’s, WK Kellogg, Pilnick, Bran, ” Pilnick, hasn’t, Carl Quintanilla, Kellogg, TikTok, CorporateGreed ”, McDonald’s Organizations: New, New York CNN, CNBC, Wall Street, US Agriculture Department Food, Bureau of Labor Statistics Locations: New York, Darien , Connecticut

Strong economic data has pushed back expectations of when mortgage rates will drop, but experts still believe they'll go down this year. This means that mortgage rates may remain elevated for at least a few more months. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.29%, a 17-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they'll, Fannie Mae, Doug Duncan, Freddie Mac, you'll, it's Organizations: Federal Reserve, Zillow Locations: Chevron

☆ I'm a nutritionist who shops at Costco for 2. Here are 15 things I always buy in bulk.
▼ + stars: | 2024-02-26 | by ( Candace Nelson | ) www.businessinsider.com time to read: +11 min

Candace Nelson for InsiderEggs are so versatile, and we eat a ton in my house since we're huge fans of breakfast burritos. Kirkland Signature's mixed-nut butter is wholesome and simpleKirkland Signature's nut butter is a great source of healthy fats. Candace Nelson for InsiderKirkland's mixed-nut butter is my all-time favorite Costco discovery — I recommend it to my nutrition clients and use it almost daily. Candace Nelson for InsiderI do most of my cooking in olive oil, so I keep it near the stove for easy access. Candace Nelson for InsiderI don't eat a lot of dairy but when I do, I prefer it in cheese form.

Persons: —, Candace Nelson, Kirkland Signature's, Kirkland's, I'm, Kirkland Organizations: Service, Business, Costco, Disney, Kirkland Locations: Costco, veggies

☆ Gen Z Is Saving Money by Living With Parents; It's Going to Cost Them
▼ + stars: | 2024-02-26 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +11 min

There are 620,000 more adults living with their parents in the UK than a decade ago. In the US, the percentage of young adults living at home has climbed 87% over the past two decades, according to the US Census Bureau. More than one-third of Gen Z respondents in a 2022 Freddie Mac survey said it's something they thought they'd never be able to achieve. A similar share of young adults lived with their parents in the wake of the Great Recession in 2010 — 44%. For many young adults, living on your own is an important step to feeling grown up.

Persons: Bethany Clark, didn't, she's, Clark, they'd, Moody's, renter, Zers, homebuyers, Gen, Freddie Mac, millennials, Z, grads, We're, Amy Lewthwaite, Lewthwaite, shouldn't, I've, Sarah Obutor, who'd, Obutor, —, Gen Zers, Jeffrey Jensen Arnett, Arnett Organizations: Census Bureau, Bloomberg, Harris, National Association of Realtors, Bloomberg Businessweek, Guardian, Financial Times, Urban Institute, Northumbria University, Clark University Locations: Surrey, England, America, London, Georgia

Average 30-year mortgage rates started the month low, but they've increased substantially since then and are now nearing 7%. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.90% last week, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.29% last week, according to Freddie Mac data, which is a 17-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: Christopher Waller, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron

The economy has been doing surprisingly well so far this year, and it's pushing mortgage rates back up. Average 30-year mortgage rates rose 13 basis points to 6.90% this week, according to Freddie Mac. Average 15-year mortgage rates also increased to 6.29% this week, a 17-point jump. Once the Federal Reserve starts lowering the federal funds rate, mortgage rates are expected to go down as well. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Mortgage rates rise for the third week in a row to 6.9%
▼ + stars: | 2024-02-22 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Mortgage rates climbed for the third week in a row, inching closer to 7%. Mortgage rates have been making smaller moves over the past two months, after coming down from last year’s high, 7.79%, reached in October. Historically, Khater said, the mix of a strong economy and higher rates didn’t meaningfully impact the housing market. “In essence, Federal Reserve officials are seeking more concrete evidence of sustained improvement in inflation before making any changes,” she said. “The recent increase in mortgage rates has the potential to slow the market by disrupting the plans of many buyers, especially in a market where a significant number of consumers are anticipating lower mortgage rates, not higher,” said Xu.

Persons: Freddie Mac, who’ve, “, ”, Sam Khater, Freddie Mac’s, Khater, Jiayi Xu, Powell’s, Xu Organizations: DC CNN —, Federal Reserve, Realtor.com, Federal, Mortgage, Association Locations: Washington

Kyiv, Ukraine CNN —The small group of women thought about canceling their protest when the sirens went off. A short distance away from where the women were standing, lawmakers debated reforms to Ukraine’s mobilization rules, inside Kyiv’s heavily protected parliament building. Antonina and her son Sasha, 3, take part in a protest in Kyiv, Ukraine, calling for soldiers' mobilization to have a time limit. “The time has come to take back what is ours,” said one highly produced video, published on the Telegram channel of then commander-in-chief of Ukraine’s Armed Forces, Valerii Zaluzhnyi. “The bureaucratic apparatus of the armed forces is a bit inflated.

Persons: Antonina, Sasha, “, doesn’t, ” Antonina, Antonina’s, Daria Tarasova, ”, Valerii, Mac ”, Mykola, Yurii, Ukraine’s, Diego Herrera Carcedo, Andriy Demchenko, Demchenko, Volodymyr Zelensky, Zaluzhnyi, Zelensky, ” Zaluzhnyi, Andriy Zagorodnyuk, Oleksandr Syrskyi, CNN’s Christiane Amanpour, Gen, Volodymyr Zelenskiy, Sysrkyi, Genya Savilov, ” Tymofiy Mylovanov, Mylovanov, “ It’s Organizations: Ukraine CNN, Kyiv, CNN, Telegram, Ukraine’s Armed Forces, 92nd Assault Brigade, Territorial Defense Force, Publishing, Getty, State Border Service of Ukraine, Facebook, Former, Publicly, Munich, Ukrainian Armed Forces, Presidential Press Service, Reuters, President’s, Air Assault Forces, Kyiv School of Economics Locations: Kyiv, Ukraine, Bakhmut, Russia, London, Ivano, Frankivsk, Ukrainian, Donetsk Oblast, Anadolu, Hungary, AFP, Avdiivka

Mortgage rates jumped up last week following the release of some hotter-than-expected inflation data. Once it looks clearer that inflation is coming down to the Fed's 2% target, mortgage rates should ease. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate is 6.77%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 6.12% last week, according to Freddie Mac data.

Persons: Mary Daly, agilely, Daly, Price, you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, National Association for Business, San Francisco Fed, Index, Fed, Zillow Locations: Chevron

The economy has been doing surprisingly well so far this year, so it may be a bit longer before we see mortgage rates start trending down. Higher mortgage rates will likely temper demand, meaning that those who are able to take on higher rates will be up against less competition. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.12%, a 22-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, Zillow Locations: Chevron

Average 30-year mortgage rates started the month low, but they've since ticked up and are now back near their mid-December levels. Once we see more data showing that inflation is slowing, mortgage rates could start to come down as well. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.12% last week, according to Freddie Mac data, which is a 22-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: it's, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron

☆ I bought a house in Japan for less than $45,000. I live in the peaceful countryside close to every convenience, and everything's cheaper here.
▼ + stars: | 2024-02-19 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

Ned Watson bought a home in Japan that had been abandoned for two years for less than $50,000. The lack of guns and violence is one of the best things about Japan. My house was abandoned for two years, but didn't need much workI've been living in Japan since 2010, and I got this house in late 2019. I could basically live this lifestyle forever for $20,000 a year, which to me is not a lot of money. So really think about the area that the place is in, what type of personal infrastructure you're going to need to live there.

Persons: Ned Watson, Watson, I've, they're, you'll, It's, that's, it's, you've, I'm, Ned — he's Organizations: Tokyo Station Locations: Japan, Shisui, Japan's Chiba Prefecture, Australia, Georgia, America, New York City, Tokyo, Chiba Prefecture, Narita City, Narita, Watson's

If inflation remains near current levels or looks like it's ticking back up, mortgage rates could climb higher. Average 30-year mortgage rates rose 13 basis points to 6.77% this week, according to Freddie Mac. Once the Fed starts lowering its benchmark rate, the federal funds rate, mortgage rates are expected to go down as well. This means we might not see mortgage rates fall substantially until the second half of 2024. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, Price, you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

INDIANAPOLIS (AP) — Pacers guard Bennedict Mathurin wanted his family to have something to cheer about after traveling to Indianapolis for All-Star weekend. Instead, two second-year players — Mathurin and Oklahoma City guard Jalen Williams — led Team Jalen past Team Detlef 26-13 in the Rising Stars championship game. GAME 1Mathurin rallied Team Jalen from an early 9-0 deficit by fueling a 21-8 run that swung the game. “I think a lot of it starts by his character to do this game and be in the All-Star game," McClung said. "I don’t think there’s any limit on Paolo Banchero.”QUOTE OF THE DAY“I told my team I’m trying to win, especially in Indy.

Persons: Bennedict Mathurin, Antonio, Victor Wembanyama, Wembanyama, — Mathurin, Jalen Williams —, Detlef, “, Mathurin, it’s, Myles Turner, Tyrese, ”, Jalen Rose, Detlef Schrempf, Oscar Tshiebwe, Scott Henderson, Catchings, Jaden Ivey, Mac McClung, Alondes Williams, Schrempf, McClung, Williams, Paolo Banchero, Banchero, Hall of Famer Tamika Catchings, Max McClung, ” Mathurin, ___ Organizations: INDIANAPOLIS, — Pacers, Oklahoma City, Jalen, Rising, Pacers, Indiana, Mathurin, Portland, League, NBA, Hall of Famer, Indy Locations: Indianapolis, Tyrese Haliburton

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