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Hurricane Milton's impact on Florida won't cause major losses for catastrophe bond investors, portfolio managers say. Insurance companies still face significant losses, but cat bond investors aren't eyeing the worst-case scenario. AdvertisementThe impact of Hurricane Milton on Florida is unlikely to trigger massive losses for catastrophe bond investors. The losses for cat bond investors, therefore, might only be in the low-single digits. This will drive an increase in risk premiums, leading to higher return expectations for cat bond investors moving forward," Steiger said.
Persons: aren't, , Helene, Milton, Chin Liu, Tanja Wrosch, That's, Florian Steiger, Steiger Organizations: Insurance, Service, Investors, Twelve, Bloomberg, Icosa, Progressive, Allstate, Chubb Limited, Swiss Locations: Florida, Hurricane Milton, Tampa, Milton
The best employees Mark Cuban has hired aren't the ones with unwavering confidence or sharp business acumen. "For me, the number one thing is you reduce stress rather than create it," Cuban, 66, told CNBC Make It at an event announcing his AI partnership with Google. "There's a lot of people that are just a whirlwind and everything seems to be difficult, causing a lot of unnecessary stress." Research has shown that stress seriously impacts productivity and job performance, and it's estimated to cost American businesses more than $300 billion every year. With all this in mind, Cuban said, "the greatest value you can offer a boss is to reduce their stress."
Persons: Mark Cuban, Cuban, Wiens, It'll Organizations: CNBC, Google, Research, University of Pennsylvania's, Medical Education
Amazon said Wednesday it's testing adding mini warehouses to Whole Foods supermarkets as part of a bid to attract more shoppers to its stores and away from other grocery competitors. Amazon said it's looking to "eliminate those extra trips" made by shoppers to other grocery stores. "Customers shopping at Whole Foods Market today are looking for natural and organic products," Varadarajan said during a presentation on Wednesday. With our micro fulfillment center, we can reduce the need for our customers to visit different stores or make multiple online orders." Amazon has for years angled to gobble up a bigger share of the grocery market.
Persons: Anand Varadarajan, aren't, Varadarajan, It's, Andy Jassy Organizations: Amazon, Foods, Pepsi, Research, Walmart, Kroger, Albertsons Locations: Berkeley , California, Philadelphia, Plymouth, , Pennsylvania, Nashville
AdvertisementThen hurricane season went quiet. There were no named storms between August 13 and September 3 — typically around when hurricane season is reaching its peak. CHANDAN KHANNA/Getty ImagesAt the start of the Atlantic hurricane season in June, NOAA predicted up to 13 hurricanes by the season's end. Joe Raedle/Getty ImagesThis year's unusual hurricane season may be a sign of things to come. AdvertisementRosencrans said that there's a large window for peak hurricane season, and the peak varies each year.
Persons: Milton, We've, Hurricane Milton, Hurricane Helene, Kelly Núñez Ocasio, What's, Debby, Ernesto, Hurricanes Helene, Niña, it's, Matthew Rosencrans, CHANDAN KHANNA, Rosencrans, Stephanie Zick, It's, Núñez Ocasio, Helene, Joe Raedle Organizations: NOAA, Service, Atlantic, Texas, University's Department, Atmospheric Sciences, Atmospheric Administration, Hurricanes, Colorado State University's Department of Atmospheric, Virginia Tech's Department of Geology Locations: Hurricane, Florida, Pacific, Florida's, Bend, Gulf of Mexico, Caribbean, Hurricane Milton, Gulf, St, Petersburg , Florida
Mortgage rates are down, but many owners and buyers are waiting for them to fall more. That should help thaw a real-estate market that had frosted over due to elevated mortgage rates. AdvertisementProperty owners are also poised to benefit from lower rates, Xu and her colleagues noted. Many owners are currently locked into the rock-bottom mortgage rates that were common in the late 2010s and early 2020s. "Although mortgage rates have eased, market rates continue to exceed current rates for most homeowners, keeping them locked in 'golden handcuffs,'" said Danielle Hale, Realtor.com's chief economist, in a statement for the report sent to Business Insider.
Persons: it's, , Realtor.com, homebuyers, Jiayi Xu, Xu, Danielle Hale, she's, David Burt Organizations: Service, Business
Hasan Akbas | Anadolu | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. October, then, is truly living up to its reputation as the most volatile month for stocks. But investors should keep in mind the uncomfortable swings in markets aren't always a good signal for the underlying health of stocks. In fact, when stocks dip because of mild repricing or a correction, that's a good opportunity for investors to swoop in, according to Johnson.
Persons: SPX, Hasan Akbas, Robert Sluymer, Piper Sandler, Craig Johnson, Johnson, – CNBC's Hakyung Kim, Samantha Subin, Alex Harring Organizations: Anadolu, Getty, CNBC, Nasdaq, Nvidia, Palo Alto Networks, Meta, Dow Jones, RBC Wealth Management Locations: Alaska, United States, U.S, aren't
Oversea-Chinese Banking Corp will stop processing Russian transactions in November, Bloomberg reported. The Singaporean bank is following lenders in China, which have largely pulled back from Russia. AdvertisementAnother bank has turned its back on Russia as lenders grow worried about doing business with Moscow under threat of Western sanctions. The changes come as more lenders grow hesitant about doing deals with Russian clients after the West threatened to impose secondary sanctions on firms doing business in the country. A Russian state media outlet reported that nearly all Chinese banks have stopped processing payments from Russia out of fear of being targeted.
Persons: , Oversea, hasn't Organizations: Chinese Banking Corp, Bloomberg, Service, Banking Corp, Business Locations: Russia, China, Moscow, Singapore, Russian
Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.
Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest
All four drugs are in a class of wildly popular weight loss drugs known as GLP-1s. In the United Kingdom, authorities last year seized hundreds of counterfeit Ozempic pens — insulin pens that had been relabeled as Ozempic. Counterfeit weight loss drugs have serious health risks, according to the pharmaceutical companies and federal officials. Counterfeiters are already trying to cash in on a weight loss drug that the company hasn't even put on the market yet: retatrutide. But it's also one of the epicenters of the lucrative counterfeit drug trade, according to U.S. authorities who track counterfeit drugs.
Persons: It's, , Eli Lilly's Mounjaro, they've, Laver, Andy Morling, CNBC Morling, Eli Lilly, Daniel Skovronsky, Eli Lilly's, we'll, Skovronksy, John F, Sal Ingrassia, Ingrassia, Customs isn't, we've, Yoav Keren, GLP, TikTok, Keren, BrandShield, it's, Nicole Johnson, CNBC Johnson, Johnson, Mike Doustdar, Doustdar, Direnc Bada Organizations: CNBC, U.S, Laver Beauty, DHL, Novo Nordisk, Laver, Medicines, Healthcare Products Regulatory Agency, Lilly Research Labs, Kennedy International, JFK International Mail Facility, U.S . Customs, Border Protection, JFK, CBP, Protection, CNBC CNBC, FDA, Customs, Meta, Facebook, World Health Organization, U.S ., Intellectual, Coordination Center, National, Turkish National Police, Novo Nordisk's, CNBC Counterfeiters, CNBC FDA Locations: BOULDER, COLO, Boulder, Ozempic, Shijiazhuang, China, Beijing, Englewood Cliffs , New Jersey, United Kingdom, London, New York City, U.S, Turkey, Europe, South America, United States, India, Mexico, Istanbul, Zurich
Don't drink so much that you can't properly drive a golf cart or respect staff members. AdvertisementNot long ago, I started working as a "cart girl" at my local golf course. This was my second summer working at the course, and golf balls had never come close to hitting me before. Unfortunately, I regularly dealt with golfers making uncomfortable comments about my body or trying to touch me. Also, if you're too drunk to treat employees with respect, you're also probably too inebriated to check your surroundings and safely drive your golf cart.
Persons: , I'm, Ruwan Walpola, there's Organizations: Service
Gen Z is choosing "micro-spending" over traditional financial milestones, analyst Riani Kenyon said. AdvertisementTwenty-somethings are ditching traditional financial milestones in favor of filling their wish lists with more instant forms of gratification. Gen Z is collecting trinketsSonny Angel dolls have become a hit with American Gen Zers. Related storiesThey're adhering to trendsHailey Bieber, a trendsetter for Gen Z, has many lining up to buy her beauty brand. RhodeAs the TikTok For You Page refreshes, so do the hot new items that Gen Zers must have.
Persons: Riani Kenyon, , Ellyn Briggs, Meredith Whitney, Gen, Kenyon, Angel, Zers, Edmond So, Z, Sonny Angel, Sonny Angel unboxing, Hailey Bieber, Briggs, Gen Zers, Shawn Owens, Hailey Bieber's, It's, Owens, Stanley, Megan Willett, Owala, Todd Owyoung, Gen Z, That's Organizations: Service, Financial, American Express, China Morning, Getty, Dreams USA, Rhode, Wei, NBC Locations: TikTok, Hailey Bieber's Rhode
Allison Gilgenbach checked into a Florida hotel at Universal Studios ahead of Hurricane Milton. After we entered our hotel room at Universal Orlando Resort in Florida, my daughters, Reagan, 11, and Ryann, 8, and I looked for the nearest exits and flights of stairs. The last time Reagan checked the weather app, Hurricane Milton was predicted to hit central Florida around 5 a.m. Thursday. AdvertisementGilgenbach and her daughters pictured before Universal Studios was closed due to the threat of Hurricane Milton. AdvertisementAre you in the path of Hurricane Milton and would like to share your story with Business Insider?
Persons: Allison Gilgenbach, , Reagan, Hurricane Milton, it's, Gilgenbach, We'd, Harry Potter, we've, We've, They've, they've, Milton Organizations: Universal Studios, Service, Universal Orlando, Hurricane, Universal, Business Locations: Florida, Hurricane Milton, Cleveland, Tampa, Ohio
But right now, borrowers should expect mortgage rates to remain near their current levels for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? 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. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.20%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.
Persons: Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government
Nutrition scientist Tim Spector had a stroke in 2012 and learned he had high blood pressure. He made dietary changes to lower his blood pressure, which he shared with Business Insider. After the stroke, Spector, who is also the cofounder of the science and nutrition company ZOE, was diagnosed with high blood pressure. AdvertisementSpector shared with Business Insider the two things he did to lower his blood pressure after his stroke. Spector switched to a salt alternativePatients with high blood pressure are commonly told to reduce the amount of salt they eat.
Persons: Tim Spector, , he'd, Spector, ZOE Organizations: Business, Service, Centers for Disease Control, American Heart Association, World Health Organization, AHA, European, of Nutrition, British Heart Foundation
Learn moreThe Prime Big Deal Days event is on its second and last day, and there are still Prime Day SSD deals to be had on Amazon for your PC or PS5. Every SSD here can be used in a PC, but only the best SSDs for PS5 meet Sony's requirements (a storage minimum of 250GB with a sequential read speed of 5,500MB/s). It's still an extremely high performer, but it's not especially suited for PS5 storage expansion due to its slower-than-recommended speeds. View at AmazonWestern Digital 4TB WD_Black SN850X $254.72 $699.99 Save 64% WD_BLACK is the premier name in solid-state drive technology, especially for gamers. Check out our roundup of all of the best Prime Day deals, or browse Amazon's website for the full selection.
Persons: aren't, SSDs, it's Organizations: Business, Deal, Samsung Locations: 1TB
Today, consumers open the Uber app because they know there will likely be loads of cars nearby to pick them up. And drivers come to Uber because they know there will be many riders waiting and willing to pay. Uber doesn't buy and maintain cars. AdvertisementA robotaxi futureWhat happens if Tesla and Waymo driverless cars replace human drivers? It has already struck deals with Waymo and Cruise, another AV company, to have their driverless cars be part of the existing Uber rideshare network.
Persons: Tesla's, Elon, Uber, Uber doesn't, Tesla, Bernstein, Lyft, Waymo, Ben Thompson, Thompson, Dara Khosrowshahi Organizations: Google, Tech, Waymo
Hurricane Milton may disrupt power and cell service in Florida. iPhone 14 and later models with iOS 18 offer satellite messaging when cell service is unavailable. Here's how to make sure your iPhone is set up to send satellite messages if Hurricane Milton topples the connectivity in your area. You can also send satellite messages via SMS to mobile numbers that aren't iPhones, but you have to message them first before their messages reach you, according to Apple's website. Still, satellite messaging can allow families to connect and let each other know they're safe during Hurricane Milton.
Persons: Hurricane Helene, , Milton, Matt Van Swol, Hurricane Milton Organizations: Service, iOS, Apple Locations: Florida, Hurricane, Asheville NC, Asheville , North Carolina
Lasers could take broadband where fiber optics can’t
  + stars: | 2024-10-09 | by ( Jacopo Prisco | ) edition.cnn.com   time to read: +7 min
One solution could come from a technology called “free-space optics” (FSO), which uses lasers to transfer data through the air. Fog and rain, but even simple air turbulence, are enough to disrupt the signal, which also requires a stable, direct line of sight between transmitter and receiver. So, despite the advantage of not requiring any licensing or regulation, unlike radio signals such as 5G, FSO broadband has yet to materialize as a commercial reality. Now, Virginia-based company Attochron says it’s ready to launch its own version of it — after more than 20 years of development. Enabling, not replacingAccording to Chaffee, the advantages of bridging the last mile with lasers are many, starting with the fact that it’s comparatively cheaper than laying fiber optics cables.
Persons: Attochron, it’s, Tom Chaffee, , Chaffee, ” Chaffee, Terabeam, Hazem Refai, Williams, who’s, , ” James Osborn, “ It’s Organizations: CNN, NASA, FSO, Lumen, Telecommunication, Networking, University of Oklahoma, of Physics, Durham University Locations: Virginia, , Lexington , Virginia
It was less a comment on my sister's personal financial situation and more reflective of the fact that having kids isn't just expensive. Some managed to follow the previously typical trajectory of getting married, buying a house and then having kids when the time felt right. Outside of Baltimore, 'having a house really made us feel comfortable having children'Achieving the major financial milestone of homeownership helped Marie Medina, 28, and her husband, Daniel, feel ready to start having kids. "Having a house really made us feel comfortable having children," Medina says. She and her husband moved from the Bronx to Portland, Oregon, in 2021, in part to make their dream of having kids more financially feasible.
Persons: you'll, it's incalculable, it's, aren't, homeownership, Marie Medina, Daniel, Medina, Marie, Daniel Medina, Yolanda Cando, Gilleran, Yolanda, Graham Cando, Alejandra Rojas, didn't Locations: Baltimore, Columbia , Maryland, New York City, Bronx, Portland , Oregon, Portland, Oregon, Amsterdam, Colombia, Netherlands, Maryland
Where are Gen Z's tech founders?
  + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com   time to read: +10 min
So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.
Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley
AdvertisementTwo years after OpenAI's ChatGPT and other chatbots launched, the advertising community's excitement over generative AI has come down to earth. The shift was evident at New York's Advertising Week, a four-day gathering this week that organizers expected 17,000 to attend. Last year, a Salesforce survey showed about three-quarters of marketers were or planned to use generative AI. Though enthusiasm about AI was tempered in the industry at this year's Advertising Week, there wasn't a widespread abandonment of the tech. Adtech company LiveRamp announced a pair of AI partnerships to help marketers find the right AI company for a given problem.
Persons: , OpenAI's ChatGPT, Ashwin Navin, there's, Andrew Lipsman, I'm, Zaid Al, Qassab, He's, Let's, Samba's Navin, That's, NBCU, DoubleVerify, Nick Fairbairn, Joshua Nafman, it's, Nafman, Fairbairn, LiveRamp, Scott Howe, Howe Organizations: Publicis, WPP, Service, New, Samba, WPP —, Saatchi, Business, Google, Advertising, Media, Diageo
So we've gathered a list of Prime Big Deals Day sales on gifts like fun gadgets, teen-friendly beauty products, and quirky kitchen items. For all of our editor-favorite deals, see our article on the best Prime Day deals that span every category. These are the best Prime Day deals on gifts to help make hunting down fun finds a little easier. The best Amazon Prime Day deals on giftsWe rounded up lots of fun Prime Day deals on little treats for you or a friend. Check out our roundup of all of the best Prime Day deals or browse Amazon's website for the full selection.
Persons: Mariah Carey, we've, it's, Samantha Crozier raved, I'm, Stanley doesn't, who's, wardrobes, Tabby, popper, Pei, TJ Organizations: Business, Stanley, Amazon, TJ Maxx
Ballroom dancing has given her a social life and improved her physical and mental health. AdvertisementThis as-told-to essay is based on a conversation with Charlotte Page, a 24-year-old venture capitalist based primarily in Florida. It seemed really fun and a great way to develop a friend group, so I decided to try ballroom dancing. Ballroom dancing has made such a difference in my life and helped me find friends outside work. Being able to move after a long day of sitting at work and really let loose is just so nice.
Persons: Charlotte, , Charlotte Page, who's, We've, Starpoint, It's Organizations: Charlotte Page, Service, Harvard Locations: Florida, New York City, New York
View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark. View at Amazon What we like Check mark icon A check mark.
Persons: Matte, Slim, It's Organizations: Business, Deal, Samsung, LG, Buyers, Shoppers, Fire, Alexa, Samsung S95D, Dolby, Sony, Panasonic, Toshiba
On a recent trip there, I spent one night in a glamping tent and the other in a tiny house. The tiny house was more comfortable, but the glamping tent felt like a proper escape from the city. Big Tiny, a tiny house startup in Singapore, launched Tiny Away on Lazarus in May last year. AdvertisementThe tiny house was more comfortableDespite the tent having a queen-sized bed (left), the author felt more comfortable in the tiny house (right). The glamping tent offered a more novel experienceThe author spent one night journaling in the glamping tent (left) and the other watching Netflix in the tiny house (right).
Persons: , Lazarus, May, Ray Lee, Sam Wong, Prudence Lai, Erin Liam, cofounders, there's, unplug Organizations: Service, Sentosa Development Corporation, Singapore's Ministry of Trade and Industry, Singapore Zoo, Business, Netflix Locations: Lazarus, Singapore, Southern
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