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First-generation Black wealth builders might not have been exposed to the value of financial advice. This may result in first-generation Black wealth builders making financial mistakes and not being as proactive with their finances. Many first-generation Black wealth builders tend to sit on a lot of cash and have a fear of the stock market because of their upbringing. Pressure to support others before securing your own financial futureOften, first-generation Black wealth builders find themselves trying to balance financially supporting others while building wealth and progressing in their careers. As a first-generation Black wealth builder, family members may expect you to support them financially.

☆ I'm a TikTok and Instagram creator who earned over $100,000 for the first time last year. Here are 3 things I wish I knew earlier in my career.
▼ + stars: | 2023-02-25 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +5 min

Tej Patel has 67,000 followers across TikTok and Instagram, where he posts photography and film content. Now, I have 58,400 followers on TikTok and almost 10,000 followers on Instagram. I made $100,000 for the first time last year, including earnings from brand sponsorships, TikTok's creator fund, and my photography and video production business. Here are three things I wish I knew earlier in my career that other creators should look out for. For me, that's anything related to photography, filmography, South Asian representation, and being a creator in New York City.

Instead, despite reporting robust profits, banks' shares have broadly stumbled as they forecast margin pressure, suggesting intensifying competition for customers' deposits and mortage business to come. "It may be that we've seen the peak of margin," said William Chalmers, finance chief of Britain's biggest domestic bank Lloyds (LLOY.L) on Wednesday. Lenders say they have started to pass on higher rates to savers, adding that profitability is rebounding after years of low margins. Pressure to immediately increase the rates banks pay savers has been intensified by the digital offerings from U.S. entrants into the market such as JPMorgan and Goldman Sachs, executives at the top British lenders said. In contrast to floating rates, which broadly track the Bank of England benchmark, fixed mortgage rates have started to fall as competition intensifies.

☆ Biggest security benefits, risks with new Meta, Twitter verified identity subscriptions
▼ + stars: | 2023-02-23 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +12 min

As Twitter and Meta Platforms move to paid subscriptions for social media identity verification and security, the battle to stay safe online continues. With social engineering and phishing the primary sources of social media account compromise, it's unlikely verified accounts will actually be more secure. "Twitter is only eliminating the SMS-based two-factor authentication capability, and does offer two additional methods for two-factor authentication that are stronger and more reliable than SMS-based authentication," Ramzan said. When signing on for a social media account, try to give away as little personal information as possible, Buzzard said. Aura recommends social media users disable third-party apps that are connected to their social media accounts.

☆ Senators urge halt to Chinese carriers overflying Russia on U.S. flights
▼ + stars: | 2023-02-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Al Drago/Pool via REUTERS/File PhotoFeb 23 (Reuters) - The chairman of the Senate Foreign Relations Committee and the committee's top Republican urged the Biden administration to halt Chinese airlines and other non-American carriers from flying over Russia on U.S. routes. U.S. airlines and other foreign carriers are barred from flying over Russia. Russia banned airlines from the United States from overflights after the U.S. barred Russia flights in March 2022 following its invasion of Ukraine. U.S. air carriers currently serve Shanghai from the United States through a stop in Incheon, South Korea, while Chinese carriers serve the United States directly, flying through Russian airspace. The senators want the Biden administration to prohibit U.S. government personnel on official travel from taking flights known to use Russian airspace.

☆ Why a U.S. national electric grid would be great for the climate — and is nearly impossible
▼ + stars: | 2023-02-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +15 min

But the energy grid in the U.S. has developed over decades as a patchwork of thousands of individual utilities serving their own local regions. The Department of Energy is in the process of conducting a National Transmission Planning Study,to look into all of this. "Many mid-U.S. states have excellent wind resources, and the southwest U.S. has excellent solar resources, but the population is insufficient to use them," McCalley told CNBC. Finally, improved energy sharing would also lead to a more reliable energy grid for consumers. At the kickoff for its next round of transmission planning, MISO had a three hour planning meeting with 377 people in the meeting.

☆ How to boost your portfolio income when companies cut dividends
▼ + stars: | 2023-02-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

Dividend stocks have long been a way for investors to earn income, but recent cuts may have some concerned about what to do next. However, those recent decreases are unusual, said Howard Silverblatt, senior index analyst at S & P Dow Jones Indices. Where to look for income Corporate dividends are just one source of income, and that income should be just one part of your overall portfolio, said certified financial planner Jamie Hopkins, managing partner of wealth solutions at Carson Group. Dividend funds Another option is an exchange-traded fund composed of dividend stocks. WDIV YTD mountain SPDR S & P Global Dividend ETF's year-to-date performance The ProShares S & P 500 Dividend Aristocrats ETF , also tracks the index.

Figure out the documents you'll need, and as they arrive, keep them in one location. Get the latest tips you need to manage your money — delivered to you biweekly. That's why Guissinger recommends being proactive and getting a head start by listing out what income documents you should be expecting. "To reduce your income tax liability for 2022, you can still make IRA contributions, as well as some self-employed retirement plan contributions, and health savings account contributions," she says. Don't rush through your taxesWhile filing taxes can seem complicated, certified public account Michael Raiken says to take the entire process as slowly as you need to.

☆ OpenAI cofounder Elon Musk said the non-profit he helped create is now focused on 'maximum-profit,' which is 'not what I intended at all'
▼ + stars: | 2023-02-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk said OpenAI has become a "maximum-profit," closed-source firm "effectively controlled by Microsoft." The billionaire said this is not what he "intended" when he co-founded the company in 2015. Musk wrote in response: "OpenAI was created as an open source (which is why I named it "Open" AI), non-profit company to serve as a counterweight to Google, but now it has become a closed source, maximum-profit company effectively controlled by Microsoft. The company announced a partnership with Microsoft the same year and welcomed a $1 billion investment from the tech giant. Speaking at the 2023 World Government Summit in Dubai this week Musk said "we need to regulate AI Safety."

☆ Ford warned F-150 Lightning owners about separate EV battery issue before this month's fire
▼ + stars: | 2023-02-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

DETROIT – A defective battery that caused a Ford F-150 Lightning in the company's possession to catch fire earlier this month isn't the only problem the Detroit automaker has recently experienced with its new all-electric pickup truck. For Ford, the F-150 Lightning problems are part of ongoing quality and operational issues, as outlined by CEO Jim Farley to investors days before the fire occurred in a Ford holding yard. The amount of "customer service actions" Ford has issued for the F-150 Lightning since its launch in April 2022 was not immediately available. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. Ford does not release production data for the F-150 Lightning, however the company sold more than 2,200 of the vehicles last month.

☆ Elon Musk cofounded the company behind ChatGPT but he's warning that unregulated AI comes with 'great danger'
▼ + stars: | 2023-02-16 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +3 min

He said that regulating AI "may slow down AI a little bit," but it "might also be a good thing." "It's both positive or negative and has great, great promise, great capability," Musk said of AI, adding that "with that comes great danger." "I think we need to regulate AI safety, frankly," Musk said Wednesday. As the founder of Neuralink and CEO of Tesla, both of which utilize AI, Musk has previously spoken out about AI. Because I think by the time we are reactive in AI regulation, it's too late," he continued.

☆ Twitter's team focused on ethics rushed to publish research papers before Elon Musk's takeover fearing he would lay them off, report says
▼ + stars: | 2023-02-16 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Twitter's AI ethics team hurriedly published studies in the weeks before Elon Musk's takeover, Wired reported. The team feared "the runway would shut down when the Elon jumbo jet landed," one ex-staffer told Wired. In Musk's first week owning Twitter, he laid-off most of the team, known internally as META. "We were rightfully worried about what this leadership change would entail," Rumman Chowdhury, who was engineering director on the team, told Wired. Employees told Wired that several more papers on misinformation and algorithms were quickly published too around the time of the takeover.

BBC News reported on television that people had not been allowed to enter or leave the offices. The raids come after the Indian government said it used “emergency powers” to block the documentary from airing in the country, adding that both YouTube and Twitter complied with the order. A BBC spokesperson told CNN that the organization was “fully cooperating” with authorities. The two-part documentary “India: The Modi Question” criticized the then-chief minister of the western state of Gujarat in 2002 when riots broke out between the state’s majority Hindus and minority Muslims. But the riots remain one of the darkest chapters in India’s post-independence history, with some victims still awaiting justice.

☆ Meta is asking some managers and directors to move to roles that don't involve any managing, or quit the company, report says
▼ + stars: | 2023-02-09 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Meta is asking managers and directors to move to different roles or quit, sources told Bloomberg. It wants these staff to switch to other roles which don't involve managing people, per Bloomberg. CEO Mark Zuckerberg said on February 1 that 2023 will be the "year of efficiency" for Meta. People familiar with the matter told the outlet that the company wants these staff to transition to individual contributor jobs, which don't involve managing other people, in its bid to improve efficiency and become more nimble. Zuckerberg told investors in Meta's most recent quarterly earnings call on February 1 that 2023 will be the "year of efficiency" for the company.

☆ As ChatGPT mania takes hold, here's how companies beyond tech are using A.I.
▼ + stars: | 2023-02-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

AI's been in use for years, of course, helping companies improve products, efficiency and their business models. Media conglomerate Comcast (the parent of CNBC) is harnessing AI to improve expenses and innovate within high-speed broadband, while Stanley Black & Decker mentioned it's using AI to help customers better measure the hardening of concrete. Here's how some of the biggest companies outside of technology are utilizing AI to improve their businesses: Healthcare companies bet on AI One of the biggest beneficiaries of the latest AI trends might be healthcare companies. Some health companies also view machine learning and AI as tools to assist in areas with doctor shortages or fewer resources. Minneapolis-based utility Xcel Energy said it's using AI technology to improve efficiency at its plants and move from "reactive to proactive maintenance," said Brian Van Abel, Xcel's chief financial officer.

☆ More companies say they're giving bigger raises this year—here's how much to expect
▼ + stars: | 2023-02-08 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

The biggest reasons for the generous raises are to temper turnover and help employees combat inflation, says Garry Straker, Salary.com's vice president of compensation consulting. Some 40% of HR leaders say it's more difficult to hire now than last year, and nearly a quarter say constant turnover is impacting their ability to hit business goals. Companies are planning for an average raise of 4.1% for workers, Straker says. But with the tech sector making up just 4% of the labor force, "layoffs do not seem to be ubiquitous," Straker says. Certainly layoffs are grabbing headlines, but there are a lot of employers still recruiting aggressively in the market."

☆ LGBTQ+ founders face extra challenges when fundraising, with 75% hiding their sexual or gender identity, report finds
▼ + stars: | 2023-02-07 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

LGBTQ+ founders face extra barriers when fundraising, and many feel the need to conceal their identities. A new report tracking the experiences of LGBTQ+ founders and investors in the UK startup and venture capital ecosystem paints a dire picture. LGBTQ+ founders — especially those who identify as women and nonbinary — face additional barriers when fundraising, the report found. Cisgender refers to a person whose gender identity is the same as the sex assigned to them at birth. Funds could also commit a proportion of investment to diverse founders, including LGBTQ+ founders, the report's authors said.

☆ Alignment Healthcare's CEO shared 3 reasons he thinks the upstart will win in health insurance — and why it won't unravel like Bright Health
▼ + stars: | 2023-02-07 | by ( ) www.businessinsider.com time to read: +5 min

Young health insurers that went public in 2021 have bled money. Some health insurers that went public in 2021 at high valuations have struggled since then. Several young insurers have bled money as they've grown quickly. Bright Health, another Medicare Advantage insurer, came close to insolvency and had to shut down its health plans on the Affordable Care Act marketplace. Growing steadily with a narrow focusBefore the recent market slowdown, growing fast had been a common strategy for newly public health insurers and digital health broadly.

☆ The US Navy is offering its most experienced special-operations sailors up to $100,000 to stay in uniform
▼ + stars: | 2023-02-04 | by ( Steve Balestrieri | Sandboxx News | ) www.businessinsider.com time to read: +4 min

Now the Navy is offering experienced Naval Special Warfare sailors with bonuses up to $100,000. Special Warfare Combatant-craft Crewman at Joint Expeditionary Base Little Creek-Fort Story in Virginia in July 2010. Phase Two of the program targets NSW sailors that are E-8s who have between 24 to 26 years of service. They can earn up to $50,000 in retention bonuses, with $25,000 offered each year. Phase Three of the program targets NSW sailors that are E-9s and have between 26 to 28 years of service.

Internet celebrity Andrew Tate had offered her a new life. British-American Andrew Tate, 36, who's been based mainly in Romania since 2017, and his 34-year-old brother have denied all the allegations against them. Spokesperson Sue Beeby told Reuters that Andrew Tate "has never had" a creator account or received payments. In a separate YouTube video aimed at men who want to make money by putting women on OnlyFans, Tate called the platform "the greatest hustle in the world". The pair threatened to beat the women up if they did not do their job, according to the court document.

☆ MsDowJones shares her top 7 money must-do tips for staying ahead in 2023
▼ + stars: | 2023-02-01 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

The old financial ways are not as applicable to younger generations, says Haley Sacks, who is a millennial herself. She built a career as an online personal finance influencer after her search for good financial information turned up empty. Sacks says 2023 should be the year of knowing where you stand financially, a key step to getting ahead. This leads to her next tip: stick to the 50/30/20 rule, which is the ratio by which your after-tax monthly expenses should be broken down. If you've knocked off all of the above and you still have extra cash, consider maximizing your tax-advantaged accounts, Sacks said.

☆ Britain's finance ministry sets out draft rules to regulate cryptoassets
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 1 (Reuters) - Britain's finance ministry set out draft rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks that need addressing. "Our view is that this reinforces the case for clear, effective, timely regulation and proactive engagement with industry," Financial Services Minister Andrew Griffith said in proposals put out to public consultation. "This includes a proposal to bring centralised cryptoasset exchanges into financial services regulation for the first time, as well as other core activities like custody and lending," Griffith added. After the three-month consultation, there will be secondary legislation later this year along with detailed rule proposals for public consultation from the Financial Conduct Authority. HMT crypto graphicReporting by Huw Jones; editing by Jason Neely and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Get a jump on starting an emergency fund and earning extra income by having a financial plan. When you don't have an emergency fund, one job loss or medical issue could totally upend your life. This will take time and effort to accomplish, but the peace of mind and confidence that an emergency fund gives you will be well worth it. This can often lead to disaster when something breaks down and needs total replacement, which can lead to spending money you are not prepared to spend. When handling your money and thinking about the future, being proactive rather than reactive can save you money and help you be more financially secure.

☆ Meta's 'Year of Efficiency' was everything Wall Street needed to hear from Zuckerberg
▼ + stars: | 2023-02-01 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

With one simple slogan, Meta CEO Mark Zuckerberg temporarily quelled investor discontent with his company's multibillion-dollar investment into the futuristic metaverse. "Our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization," Zuckerberg said as part of the release of Meta's fourth-quarter earnings report. Following a 64% plunge in Meta's share price in 2022, Wall Street cheered the report, sending the stock up almost 20%, extending a rally that began late last year. And the forecast range for the first quarter suggests that year-over-year revenue could increase, but it could also fall again. Capital expenditures are now expected to be in the range of $30 billion to $33 billion for 2023 instead of $34 billion to $37 billion.

☆ Ford and Tesla slashed car prices — but only one is giving customers who missed out their money back
▼ + stars: | 2023-01-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Ford is working to refund Mach-E owners after cutting prices. Ford, the first to hit back against Musk's price war, is taking a different approach with its price cuts. "We want our customers to know they made the right decision by choosing a Mustang Mach-E," Gaja said. Ford hitting back at Tesla's EV price war is the company's latest move to compete directly with Musk's electric car company. Are you a Mustang Mach-E owner or a Tesla owner impacted by price cuts?

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