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The big storyRetirement crisisart-4-art/Getty Images; Adobe Firefly; Jenny Chang-Rodriguez/BIWhat was once a natural part of the American dream — retirement — is now a luxury many workers can't afford. All of that combines to form a growing, and increasingly bleak, American retirement crisis. Plus, some who do leave work early end up regretting it . AdvertisementWhile early retirement isn't for everyone, retirement at its most basic level — leaving work after most of our adult lives — should be. The notion that people who've done everything they were supposed to, and still can't retire, points to major problems in the system at large.
Persons: , Jordan Parker Erb, Dan DeFrancesco, Haven't, Jenny Chang, Rodriguez, they've, Juliana Kaplan, doesn't, Juliana, who's, she's, Alounthong, Getty, Klaus Vedfelt, Tyler Le, Zers, millennials, Warren Buffett's, Buffett, Sam Bankman, Daniel Jurman, it's, Rebecca Zisser, Elon Musk, Donald Trump, Hallam Bullock, George Glover, Grace Lett, Lisa Ryan Organizations: Service, Business, Pensions, Social Security, Prosecutors, BI, Apple, Accenture, Deloitte, Google Locations: America, India, China, American, New York, London, Chicago
But with his latest startup, Cherish Health, he's taking a different approach. To date, Cherish Health, which makes a radar-based device to detect falls in the home, has raised $26 million from these alternative sources. Cherish Health is now gearing up to raise its Series B round, targeting $30 million at a $200 million valuation. In late 2022, Cherish Health landed $5 million in Series A funding led by Alarm.com at a $45 million valuation. If Cherish Health had gone the way of traditional venture capital, Nagpal said, "we would've given up most of our value by now."
Persons: Sumit Nagpal, Nagpal, he's, we've, JP Morgan, Health's, Health, Alarm.com, consortiums, aren't Organizations: pharma, Abbott, Business, Accenture, Health, Apple, Comcast, Amazon, Cherish Health Locations: Alere, Haven, Amazon , Berkshire, Alarm.com, VCs
Read previewLivongo veteran Glen Tullman's latest venture, healthcare startup Trascarent, is raising a Series D round, Business Insider has learned. The sources said the round values Transcarent at about $2.1 billion. Related storiesIt's been a difficult fundraising environment for growth-stage healthcare startups — and that's reflected in Transcarent's latest fundraising push. Transcarent has raised $298 million to date, last grabbing $200 million in a January 2022 Series C round that boosted its valuation to $1.6 billion. Transcarent also acquired 98point6's virtual care platform in March 2023 to offer on-demand telehealth care.
Persons: , Glen Tullman's, General Catalyst, Leslie Krigstein, Transcarent, Tullman, Teladoc, 98point6 Organizations: Service, General, Business, Catalyst, Human, Ally, Group, Alta Partners, Merck Global Health Innovation Fund, Jove Equity, Ventures, GreatPoint Ventures, Intermountain Healthcare, Rush University Medical, Soda Health Locations: Transcarent
Tammy Murphy, the wife of New Jersey Democratic Gov. Phil Murphy, announced Sunday that she would withdraw from the state's Democratic Senate primary contest. The winner of that June 4 election will become the favorite to replace indicted Democratic Sen. Bob Menendez. Murphy's exit widens the path for Democratic Rep. Andy Kim to lock down his frontrunner status ahead of the primary. The Murphy campaign declined to provide further comment.
Persons: New Jersey Tammy Snyder Murphy, Philip D, Murphy, Tammy Murphy, Phil Murphy, Democratic Sen, Bob Menendez, Andy Kim, Menendez, Donald Trump, Kim, Larry Hamm, Patricia Campos, Medina, Steven Fulop, It's, Fulop Organizations: New Jersey Democratic Gov, Democratic Senate, Democratic, Democratic Rep, Democrat, Independent, Prosecutors, Benz, Republican, Jersey City Locations: New Jersey, of New Jersey, Trenton , New Jersey, United States, Monmouth County, NJ
Trump Media's social media app could be valued at more than $5 billion. Investors in Digital World Acquisition Corp. approved a merger deal with Trump's company. Despite the potential windfall, Truth Social is facing mounting losses. AdvertisementDonald Trump's social media platform is losing money, but it could still be valued at over $5 billion. Former President Trump's Truth Social is set to become part of a publicly traded company after a long-delayed merger was approved.
Persons: , Donald, Trump's Organizations: Trump, Service, Trump Media & Technology Group, Associated Press, Business
97% of countries will fall below replacement level fertility rates by the end of the century, according to a new study. Shrinking fertility rates pose economic challenges of workforces shrinking and aging populations. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBy 2100, over 97% of countries will have fertility rates below the replacement level, a Lancet study forecasts. With the fertility rates expected to fall below the necessary replacement level to sustain population size over time, experts warn we are approaching a "demographically divided world."
Persons: Elon Musk, Organizations: Service, Institute for Health Metrics, University of Washington's School of Medicine, Business
A family lost in an Oregon forest used the Emergency SOS feature on their iPhone to survive. Apple's emergency SOS feature via satellite debuted with the iPhone 14 model. AdvertisementA family used an iPhone feature to survive after they came lost in a freezing forest in Oregon, The Chronicle reports. The family activated the Emergency SOS via satellite feature on their iPhone for help, and the Clackamas County Sheriff's Office received their distress signal at 7:30 p.m.AdvertisementApple's Emergency SOS feature via satellite debuted with the iPhone 14 model. The easiest way to activate Apple's Emergency SOS feature is by holding the lock button and one of the volume buttons.
Persons: , Brian McCall Organizations: Chronicle, Service, Office, Clackamas County Sheriff's, SOS, Apple Watch Locations: an Oregon, Oregon, Mt, Hood, Clackamas County, Salmon, Utah, Delaware
Apple's having a rough year
  + stars: | 2024-03-24 | by ( Matt Turner | Jordan Parker Erb | ) www.businessinsider.com   time to read: +4 min
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Justin Sullivan/Getty Images; Jenny Chang-Rodriguez/BIThis week's dispatchTaking a bite out of AppleApple's having a rough year. Apple is to blame for Amazon and Microsoft's phone failures, per the DOJ, which also zeroes in on Apple's green text bubbles. It was a tech antitrust lawsuit more than two decades ago that helped create space for Apple's rise.
Persons: , Justin Sullivan, Jenny Chang, Rodriguez, Tim Cook, Steve Jobs, Apple, Rebecca Zisser, Frazer Harrison, Tyler Le, Goldman Sachs, David Solomon, Patrick Semansky Goldman, Russell Horwitz, Al Schwimmer, Frank Sinatra, Matt Turner, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Apple, Department of Justice, DOJ, Amazon, FTC, Getty, Google, BI, David Solomon AP Locations: China, Palestine, New York
Before House Speaker Mike Johnson, R-La., can exhale, he will have to face the House Republican hardliners of the Freedom Caucus. Johnson is already in hot water with the Freedom Caucus for his concessions to pass the budget bill and avert a government shutdown. "I think Speaker Johnson — I've been public about this — made a mistake," said Roy. Compromising with Democrats was one of the central grievances that led to former House Speaker Kevin McCarthy's ouster from his post. With the budget finally agreed upon, the Ukraine funding decision will be more challenging for Johnson to dodge.
Persons: Chip Roy, shutdowns, Mike Johnson, haven't, Johnson, Johnson — I've, Roy, Marjorie Taylor Greene, Kevin McCarthy's, Johnson's speakership, Republicans tanked, Donald Trump Organizations: Caucus, U.S, Capitol, Republican, Freedom Caucus, hardliner, Democratic, Republicans Locations: Washington, Ukraine, Israel, Russia, United States
Russia was too busy trying to conquer Ukraine to notice ISIS-K gunmen slip into Moscow, said Zelenskyy. Ukraine's president said Russians now killing on Ukrainian land could have stopped the terrorists. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe war in Ukraine distracted the Kremlin from ISIS-K's terror threat to Russia, Ukrainian President Volodymyr Zelenskyy said in his Saturday night address. Those hundreds of thousands of Russians who are now killing on Ukrainian land would surely be enough to stop any terrorists," he said.
Persons: , Volodymyr Zelenskyy Organizations: Security, ISIS, Service, Crocus City, Business Locations: Russia, Ukraine, Moscow, Ukrainian, Crocus
A tourist, 23, fell overboard from the MSC Euribia cruise ship, say reports. The recently-wed student had just texted his wife that he felt seasick. Liam Jones vanished during a seven-day Northern Europe tour cruiseNEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA 23-year-old tourist is presumed dead after falling from the MSC Euribia cruise ship in the North Sea, reports say. Liam Jones disappeared during a seven-day Northern Europe tour cruise from Southampton to Amsterdam with his family to celebrate his mother's birthday.
Persons: Liam Jones, , Sophia Mcphee Organizations: MSC, Service, Business Locations: Europe, North, Southampton, Amsterdam, Scotland
This is a story about one of modern life’s least consequential but most acutely annoying experiences: getting a sufficient number of capers out of those dollhouse-size jars they’re sold in. Capers are expensive, so producers sell them in smaller jars to make each unit more affordable. Why such narrow jars? Skinny jars just look nicer, Mezzetta says. As one Redditor said: “I’ve never been in a situation where I don’t decide to just use the entire tiny jar for what I’m making.”
Persons: they’re, God, capers, It’s, purveyors, Goya, Russell Zwanka, ” Zwanka, , Rebecca Wright, Jeff Mezzetta, they’re tippy, , Mezzetta, Zwanka, chef’s, ” Duane Stanford, Bull, Brian Noone, Redditor, “ I’ve Organizations: New, New York CNN, Western Michigan University, CNN, Beverage, Redditors Locations: New York, New York City, California, Labrador, Morocco, Tunisia, Greece, Turkey, Adelaide, South Australia, Malta
Russian President Vladimir Putin linked Moscow concert hall attackers to Ukraine. At least 133 people were killed by gunmen, and 11 have suspects been detained, say Russian sources. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian President Vladimir Putin claimed the gunmen who attacked a Moscow concert hall and killed 133 people had links to Ukraine, an allegation Kyiv completely rejected. Russia's Federal Security Service (FSB) had earlier claimed a link between Ukraine and the gunmen in a statement, said Russian news agency TASS.
Persons: Vladimir Putin, , Putin, STRINGER, Hamid Karzai Organizations: Service, Crocus City, Russia's Federal Security Service, Putin, Main Intelligence, Ministry of Defense, Getty, Russia's, Islamic, Politico Locations: Moscow, Ukraine, Crocus, Krasnogorsk, Russia's, Russian, Kyiv, Islamic State, Kabul
A storm system on Saturday brought heavy rain to the Northeast and heavy snow to parts of New England and Northern New York, leaving more than 300,000 households in several states without electricity. More than 194,000 electricity customers in Maine, more than 71,000 customers in New Hampshire and more than 78,000 in New York State had lost power as of early Sunday morning, according to PowerOutage.us, a website that tracks power failures. In New York City, the heavy rain and snow cleared overnight, according to the National Weather Service. But a flood advisory for parts of New Jersey and New York City was in effect until 5 a.m.A flood warning had also been issued for Warren County, N.J., until 8:30 a.m. Such a warning, a higher level than an advisory, means that flooding is imminent or occurring.
Organizations: New York State, National Weather Service Locations: New England, Northern New York, Maine, New Hampshire, New York, New York City, New Jersey, Warren County, N.J
Read previewUkraine attacked Russia's oil infrastructure after US officials advised them against targeting Russian oil refineries, Bloomberg reports. Russia's oil infrastructure took another hit as drones targeted refineries in the Samara region. The targeted refineries, both part of Rosneft PJSC's Samara region group, play a crucial role in Russia's oil production landscape. The strikes have targeted refineries, storage depots, and other key sites, exacerbating economic pain and raising fears of further escalation. Indeed, the refineries targeted in the Samara oblast last night are over 800 miles from Kyiv.
Persons: , Dmitry Azarov, Organizations: Service, Bloomberg, Business, US, Financial Times Locations: Ukraine, Samara, Russia, Rosneft, Russian
Meet the Americans who can't retire
  + stars: | 2024-03-23 | by ( Juliana Kaplan | ) www.businessinsider.com   time to read: +12 min
More people over 65 are working as pensions disappear, people live longer, and Social Security benefits are seemingly always in peril. Business Insider spoke with several Americans of retirement age about why they are still trading their time for money. "I think older people become very invisible, and maybe it's going to take other older people to help heighten that visibility." On average, Americans who have pensions receive $25,000 annually from them; the average estimated annual Social Security benefit is $38,418 for 2024. Indeed, BI's analysis of retirement data has found that nearly 80% of retirees have Social Security income.
Persons: , Marcia, I'm, hasn't, she's, Steve Biddle, he's, He's, he'll, Bill, Geoffrey Sanzenbacher, Sanzenbacher, they're, Debra Giarrusso, She's, didn't, I've, there's, Pam, Kurt Vonnegut's, David Certner, Certner, Rebecca, It's Organizations: Service, Business, Social Security, Behavioral Health, Disability, Aging, , Boston College, Center for Retirement Research, Congressional Research Service, Ford Motor Company, AARP Locations: North Carolina, Connecticut, Philadelphia, America, Michigan
President Joe Biden on Saturday signed Congress' $1.2 trillion spending package, finalizing the remaining batch of bills in a long-awaited budget to keep the government funded until Oct. 1. The Senate passed the budget in a 74-24 vote at roughly 2 a.m. However, the White House said that it would not begin official shutdown operations since a deal had ultimately been secured and only procedural actions remained. Hours before the House passed the spending package Friday morning, hardline House Republicans held a press conference to lambast the bill. If ousting a House speaker for budget disagreements feels like a familiar story, that's because it is.
Persons: Joe Biden, Kamala Harris, Mitch McConnell, Mike Johnson, Chuck Schumer, Hakeem Jeffries, Biden, Marjorie Taylor Greene, Johnson, Kevin McCarthy Organizations: White, Saturday, Department of Homeland Security, Republicans, Georgia Republican, Republican, Freedom Caucus Locations: Washington , DC
The Princess of Wales made her announcement through a video posted on social media, speaking directly to the public. Her announcement comes less than two months after Buckingham Palace revealed that King Charles III is also being treated for cancer. The king's announcement was formal and promptBuckingham Palace announced the king has cancer in a statement shared with Business Insider on February 5. Related storiesThe statement did not specify the type of cancer the king has, what stage of cancer he has, or what kind of treatment he will receive. But she followed in her father-in-law's footsteps by not revealing the type or stage of cancer she was diagnosed with.
Persons: , Kate Middleton, Wales, Buckingham, King Charles III, Kate, chemo, Kristen Meinzer, — Prince George , Princess Charlotte, Prince Louis —, William, George, Charlotte, Louis, King George VI, Mother, Rebecca English, King Charles Organizations: Service, Business, Kensington Palace Locations: Kensington Palace, Kensington
Reddit went public on Thursday after raising $748 million in its IPO. CEO Steve Huffman and Sam Altman and his network of investment firms are some who profited the most. Reddit is the most recent tech company to debut in the public markets as Wall Street watches to gauge the dormant IPO market. The company, founded in 2005 by Steve Huffman and Alexis Ohanian, had been rumored to go public over the past several years. However, the market has been shaky for the past two years, causing several companies to put off pursuing IPOs because of less-than-desirable macro conditions.
Persons: Reddit, Steve Huffman, Sam Altman, Alexis Ohanian Organizations: Business
In today's big story, we're looking at why the economy has most consumers feeling like they are stuck in place . A "trapped in place" economy is in full swing. Bad buying conditions coupled with everyday high prices means consumers can't make any major life changes , writes Business Insider's Emily Stewart. But it's not the only area of the economy that's stuck, Emily writes. So, while consumers lament being stuck in place, they should also avoid getting stuck looking to the past.
Persons: , Rebecca Zisser, Emily Stewart, it's, Emily, gunning, It's, Jerome Powell's, Tyler Le, Steve Mnuchin, Brian Moynihan, Instagram, Jensen Huang, Chelsea Jia Feng, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Tech, Federal, Wall Street, Investors, Blackstone, JPMorgan, MLB, Bank of America, mojo, Nvidia, Astera Labs, NASDAQ Locations: It's, Chelsea, New York, London
We love food, and we love people who love food,” says Orfali. Orfali Bros BistroA multicultural menuOrfali left Syria in 2006, relocating to Dubai a year later, and his brothers followed. “Different nationalities, different colors, different languages, different accents. Orfali Bros BistroA “flourishing” food sceneDubai’s restaurant scene has, until recently, been dominated by celebrity chefs and international franchises. “We build a relationship between us and the guests, and we make it family,” Orfali says.
Persons: CNN —, Mohamad Orfali, Treet Bel Laban ” —, , Orfali —, Mohamad, Omar, We’re, Orfali, , Mohammad, barak, they’ve, Orfali Bros, Eclair, Samantha Wood, “ Mohamad, Wood, Chez Wam, ” Orfali, “ It’s Organizations: CNN, Michelin, , Orfali, UAE, Dubai, , Bros Locations: Aleppo, Syria, Dubai, East, North Africa, Orfali’s, UAE, Lebanese, Sichuan, , “ Dubai, Hokkaido, Turkish
Democratic presidential hopeful and former Vice President Joe Biden in Las Vegas, Nevada on February 22, 2020. President Joe Biden will visit the battleground state of Nevada Tuesday to take aim at corporate landlords, who the White House claims are keeping rents artificially high even as overall inflation has eased. Biden's attack on what he calls 'rent gouging' is part of his broader, election year effort to shift the blame for stubbornly high costs of living away from the president and his economic policies, and onto corporations with outsized pricing powers. Speaking in Nevada, Biden will double down on the housing provisions in his 2025 budget proposal, take aim at "rent gouging by corporate landlords," and call on Congress to pass legislation to lower housing costs, according to a White House fact sheet. Biden won Nevada in 2020, but recent polls show him trailing presumptive Republican nominee Donald Trump in the Silver State.
Persons: Joe Biden, Michigan Ross, Biden, Donald Trump Organizations: White, Times, Biden, Nevada, Silver State Locations: Las Vegas , Nevada, Nevada, Michigan, Silver
The other five funding bills were effectively settled by the end of last week, with only the Homeland Security bill presenting deep divisions Republicans and Democrats were unable to settle. The deal is being negotiated by Johnson, Senate Majority Leader Chuck Schumer, D-N.Y., the White House and top appropriators in both chambers. Republicans rejected additional funding for ICE in a bipartisan border deal agreed to by senators and the White House, demanding additional policy changes. But they, too, have demands in the funding bill. The White House has also sought increased flexibility to aid border operations, sources with knowledge of the discussion said.
Persons: Mike Johnson, he'll, Johnson, Chuck Schumer, Bob Good, Chip Roy, Joe Biden's, they're Organizations: WASHINGTON, Congressional, Department of Homeland Security, State , Defense, Homeland Security, Labor, Health, Human Services, Republicans, Democrats, DHS, White, Congress, Immigration, Customs, ICE Locations: Texas
In today's big story, we're looking at what a potential partnership between Google and Apple over AI features would mean for both companies and the wider industry. The big storyGoogle, Apple, AIRebecca Zisser/BITwo of the world's biggest tech companies are reportedly discussing a partnership that would upend the AI industry. Apple is considering integrating Google's AI model, Gemini, into the iPhone . The company has been noticeably quiet around its AI plans compared to peers like Google, Microsoft, Meta, and Amazon. So even if Apple and Google come to an agreement, they could still face some serious regulatory pushback.
Persons: , hasn't, Rebecca Zisser, Mark Gurman, Sundar Pichai, Apple, it's, Tim Cook, Google's Gemini, Insider's Hasan Chowdhury, BI's Phil Rosen, Mike Coppola, Jerod Harris, Grzegorz Wajda, Chelsea Jia Feng, It's, OpenAI, Stephanie Cohen, Goldman Sach's, Goldman Sachs, Jenny Chang, Rodriguez, Goldman, Josh Edelson, Chip Somodevilla, TikTok, Jensen Huang, Blackwell, Alyssa Powell, elbowed, Manoj Bhargava, Steve Huffman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Google, Apple, Business, Gemini, Microsoft, Meta, Google's, Getty, Vox Media, Getty Images, Department of, Big Tech, Wall, Cloudflare, Bank of Japan, SXSW, Nvidia, Sports Illustrated, Arena Group Locations: AFP, Woodstock, Arizona , Florida , Illinois , Kansas, Ohio, New York, London
The bright side of divorce, according to experts
  + stars: | 2024-03-19 | by ( Madeline Holcombe | ) edition.cnn.com   time to read: +7 min
Divorce rates have been steadily trending downward in the United States, according to recent data, but marriages ending are still a common, disruptive experience. Most people probably don’t head into marriage anticipating divorce — but for those who find themselves in one, there are ways to encourage compassion for one another and ultimately build something stronger, experts said. Grieving the lossA divorce can be amicable yet still marked by loss and grief, said Rebecca Hendrix, a marriage and family therapist in New York. Support can come from a therapist, a religious leader, friends, a divorce support group, or even books and media that make you feel less alone, she added. Divorce may motivate some reflection on ways you want to make changes or even launch the first call you ever make to a therapist, Hendrix said.
Persons: Amy Mazur, , Mazur, Rebecca Hendrix, ” Hendrix, Marissa Nelson, Hendrix, , , ” Mazur, Nelson Organizations: CNN, Washington Locations: Brooklyn , New York, United States, New York, DC
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