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Cybercrime is on the rise, but even the best antivirus software can’t thwart scammers who target the human psyche. Some of the most damaging and costly scams involve what’s known as “social engineering.” That’s when fraudsters use time-tested techniques of deception and emotional manipulation, tricking people into divulging personal or financial information, or even granting remote access to their computers. This is what happened to Barry Heitin, a 76-year-old retired lawyer who lost roughly $740,000 to sophisticated swindlers impersonating bank and government officials. People of all ages and socioeconomic levels are potential targets, but older Americans are particularly vulnerable. They’re more likely to have amassed savings, and they’re perceived to be more isolated or perhaps less computer savvy.
Persons: scammers, Barry Heitin
When Olympic Sponsors Go Rogue
  + stars: | 2024-08-10 | by ( Tariq Panja | ) www.nytimes.com   time to read: 1 min
When the French luxury goods conglomerate LVMH agreed to pay about $175 million to underwrite the organizing committee for the Paris Olympics, the company, owned by France’s richest person, Bernard Arnault, asked for more than any previous sponsor had ever done. Organizers of the Games, desperate for that cash, appeared to have said yes at every turn. Made by the LVMH-owned jeweler Chaumet. But there was one secret that had been held back, Antoine Arnault, who is Bernard Arnault’s son and the family’s representative to the Olympics, told a gathering of well-heeled Parisians on the eve of the Games. Keep an eye out, he and other LVMH executives said, for “a big surprise” involving the company.
Persons: Bernard Arnault, Chaumet, Louis Vuitton, Antoine Arnault, Bernard Arnault’s Organizations: Paris Olympics, France’s, Games
Related storiesThat makes sense because, per Germano, Gen Z Chinese buyers are less logo-orientated than their parents' generations. Saint LaurentGermano's third pick was the Saint Laurent Niki Medium bag, which retails for $3,150. Yves Saint LaurentThe Saint Laurent Le 5 à 7 Hobo handbag, which retails from $1,750 to $5,100, is another one of Germano's picks. Jeremy Moeller/Getty ImagesMaison Margiela's Replica sneakers are trendy among Chinese Gen Z-ers, Germano said. Like the understated Saint Laurent Le 5 à 7 Hobo, Maison Margiela's Replica sneakers are simple and discreet enough for everyday use.
Persons: , Zers, Antonello Germano, Z, GG Marmont, Gucci, Marmont, Edward Berthelot, Germano, Gucci Horsebit, Jeremy Moeller, Gen, millennials, Laurent Niki, Saint Laurent Germano's, Saint Laurent Niki, Saint Laurent, Laurent Le, Yves Saint Laurent The, Yves Saint Laurent The Saint Laurent Le, Germano's, Laurent, Burberry, Hugo Boss, Bernard Arnault's LVMH, Louis Vuitton, Maison, Saint Laurent Le Organizations: Service, Daxue Consulting, Business, Getty, Saint, Yves Saint Laurent The Saint, tote, Bloomberg, Swatch, Dior Locations: China, Givenchy, Japan, Miami
A few years ago, the organizers of one of the largest U.S. exercise programs for people with Parkinson’s disease realized they had a problem: Most of the students were white. But people who run Parkinson’s exercise programs in a handful of U.S. cities describe great difficulty in recruiting Black people. Johnson said his Chicago-area initiative offered a free six-month exercise program for Parkinson’s patients and increased marketing in the Black community but got little traction. When a white person shows up at the doctor’s office with such symptoms, a doctor would likely recognize them as signs of Parkinson’s, said Bernard Coley, an advocate for people with Parkinson’s disease, especially those in underengaged communities. After his less-than-successful efforts to recruit Black Parkinson’s patients into his exercise program in Chicago, Johnson concluded that the fact that he’s not Black is an “important factor.”Leventhal, who runs the Parkinson’s exercise program in New York, has come to the same conclusion.
Persons: “ We’re, who’s, , David Leventhal, Mark Morris, New York City . Leventhal, Leventhal, it’s, ” Leventhal, Eddie Marritz, Parkinson’s —, Eric Johnson, Johnson, , Bernard Coley, Coley, Amber Star Merkens, ” Coley, Wendy Lewis, Tammyjo, Black, he’s, puller Organizations: Mark Morris Dance Group, New York City ., Mark Morris Dance, Yale, Movement, Parkinson’s, Nature, Parkinson’s Foundation, Parkinson Council, Emory University, KFF Locations: U.S, New York City, Chicago, California, Philadelphia, Atlanta, New York
Bernard Meyer moved abroad in 2009 when the stock market crashed and ended up in Vilnius, Lithuania. In Vilnius, Meyer has a great work-life balance and is able to disconnect in nature. Go to newsletter preferences Thanks for signing up! His job and identity have been verified by Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Bernard Meyer, Meyer, , It's Organizations: Service, Business Locations: Vilnius, Lithuania, Miami, Cape Town , South Africa, Mongolia
Australian Olympic breaking athlete Rachael Gunn poses during a portrait session in the Sydney central business district on April 17, 2024 in Sydney, Australia. Cameron Spencer | Getty Images Sport | Getty Images"Those who can, do; those who can't, teach." Mark Kolbe | Getty Images Sport | Getty ImagesBreaking, for the first time, has become an official sport at the Olympics, making it Gunn's biggest competition so far. Road to ParisGunn's journey to the Olympic dance floor was quite challenging, especially as she started breaking much later in her life. Australian Olympic breaking athlete Rachael Gunn is representing Australia as a B-Girl after qualifying for the 2024 Paris Summer Olympic Games.
Persons: Rachael Gunn, Cameron Spencer, George Bernard Shaw, Gunn, Mark Kolbe, , I've Organizations: Getty, Paris, Sydney's Macquarie University, Studies, Olympics, CNBC, Sydney Town Hall, Olympic Locations: Sydney, Australia, Paris
Earlier this week, another product contending for the future of AI companionship made its debut: an eavesdropping necklace called Friend. AdvertisementSchiffmann's original vision for an AI hardware device was a pendant that would act as a more standard-fare AI assistant called Tab — he once described it as a "wearable mom." Of the many AI hardware devices that launched in recent months, such as Humane's AI pin, Meta's smart glasses, and Rabbit's AI-powered R1, Friend is the most personal contender. In fact, on the day Friend launched, a competing AI hardware founder named Nik Shevchenko released a diss track — as any self-respecting 23-year-old AI hardware founder would do — insinuating that Schiffmann stole his idea. (It would not be the first time that Shevchenko built an open source competitor that closely resembled another AI hardware device.
Persons: Siri, Friend, Avi Schiffmann, Schiffmann, Elon Musk, Caffeinated Capital's Raymond Tonsing, Aravind Srinivas, Austin Rief, hasn't, Scarlett Johansson, transfixing Joaquin Phoenix's, , Anthony Fauci, Camus, it's, Nik Shevchenko, Shevchenko, Taylor Organizations: Harvard, Morning Locations: Tokyo, Ukraine
This mechanism, the researchers say, can not only give us more insight into the secrets hidden below Mercury’s surface, but on planetary evolution and the internal structure of exoplanets with similar characteristics. Mercury owes its gray surface to the widespread presence of graphite, which is a form of carbon. Also known as the Mercury Surface, Space Environment, Geochemistry and Ranging mission, it gathered data about the planet’s geology, chemistry and magnetic field, before the spacecraft ran out of fuel and impacted the surface. “However, some lavas at the surface of Mercury have been formed by melting of the very deep mantle. “Only future missions to the planet Mercury will tell whether these predictions were correct.
Persons: , Bernard Charlier, it’s, Yanhao Lin, ” Charlier, Lin, Charlier, , Giuseppe “ Bepi ”, Sean Solomon, Solomon, landers, ” Solomon, BepiColombo, Manley, Felipe González, González, ” González, Organizations: CNN, Mercury, University of Liège, NASA, Johns Hopkins University Applied Physics Laboratory, Carnegie Institution of Washington Mysterious, Center for, Science, Technology, Research, Nature Communications, MESSENGER, European Space Agency, Japan Aerospace Exploration Agency, Columbia University, ESA, University of California Locations: Mercury, Belgium, Beijing, Italian, Giuseppe “ Bepi ” Colombo, New York City, Berkeley
Interest rates influence our financial lives in numerous ways: Savers are now benefiting from higher-yielding bank accounts, while people carrying heavy revolving debt loads continue to be squeezed. It’s been a year since interest rates reached a two-decade high, but they may soon begin to reverse course. Now, Fed officials want to be sure prices remain under control while considering its second objective, which is to keep a strong job market. If interest rates are elevated for too long, they risk weakening the employment picture. The central bank uses interest rates to influence the broader economy.
Persons: It’s Organizations: Federal
It’s been a year since interest rates reached a two-decade high, but they may soon begin to reverse course. The Federal Reserve is expected to hold its benchmark interest rate steady on Wednesday, while signaling that a cut is possible when policy-setting officials meet again in September. If interest rates are elevated for too long, they risk weakening the employment picture. The central bank uses interest rates to influence the broader economy. Home-equity lines of credit and adjustable-rate mortgages — which each carry variable interest rates — generally rise within two billing cycles after a change in the Fed’s rates.
Persons: It’s, ” Jonathan Smoke, that’s, Freddie Mac, , Sam Khater, , “ Banks, Ken Tumin Organizations: Federal, “ Manufacturers, Cox Automotive, Treasury, Savings Vehicles Locations: Edmunds
Just 20 years ago journalists covered the tech industry "like it didn't matter, like it was this hobbyist, interesting, plucky thing." The pro-tech media gives tech's main characters the chance to write their way back to the original storyline. Trae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Related storiesTrae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Of the members of the news media I talked to about pro-tech media, some were backhandedly laudatory.
Persons: Mike Solana, Solana, Peter Thiel, , David Sacks, Jason Calacanis, Chamath Palihapitiya, David Friedberg, Elon Musk, Sam Altman, Tucker Carlson, Donald Trump, There's, Coogan, John Coogan, Andreessen Horowitz, Marc Andreessen, they're, Balaji Srinivasan, Mark Zuckerberg, Donald Trump's, Tyler Le, Sam Bankman, Warren Buffett, Trae Stephens, Andreessen, Palmer Luckey, It's, Dick Lucas, Lucas, Joe Rogan, Kamala, Stephens, Packy McCormick, Taylor Lorenz, Ryan Mac, Kevin Roose, Jesse Singal —, Casey Newton, Casey isn't, Casey, Newton, Erik Torenberg, Anthony Fauci, Ellen Pao, Katherine Maher, George Soros, Joe Biden, Chesa Boudin, Boudin, Gavin Newsom, Palihapitiya, Sacks, Trump, JD Vance, Brian Merchant, Ben Smith, Eric Newcomer, he's, Lulu Cheng Meservey, Balaji Srinivasan's, Zoë Bernard Organizations: Fund, Tech, Founders Fund, Apple, Elon, Elite, Sequoia Capital, Pirate, Penguin Group, Big Tech, Card Industry, Washington Post, TechCrunch, Media, NPR, Google, Disney, Twitter, Republican National Convention, Bloomberg, monetization, San, Business Locations: San Francisco, Substack, Silicon Valley, New York, Silicon, Solana, Miami, Francisco, California, Los Angeles
On Today’s Episode:Trump’s First Major Ad Attacking Harris Hits Her on Immigration, by Shane Goldmacher and Michael GoldProtests Erupt in Venezuela as Nations Denounce Election Result, by Frances Robles, Jack Nicas and Alejandro CegarraOlympic Men’s Triathlon Postponed Because of Pollution in the Seine, by John Yoon and Catherine PorterChina, Citing Tainted Burgers, Cleared Swimmers in a New Doping Dispute, by Tariq Panja and Michael S. Schmidt
Persons: Harris, Shane Goldmacher, Michael Gold, Frances Robles, Jack Nicas, Alejandro Cegarra, John Yoon, Catherine Porter China, Tariq Panja, Michael S, Schmidt Locations: Venezuela, Seine
Newfound fossils of the extinct arthropod Odaraia alata recently provided scientists with a first glimpse of Odaraia’s jawlike structures, called mandibles. He conducted the research at the Royal Ontario Museum while pursuing a doctoral degree in the University of Toronto’s department of ecology and evolutionary biology. For the new investigation, the researchers examined around 150 fossils collected by Royal Ontario Museum during expeditions between 1975 and 2000. The carapace folded over Odaraia’s limbs, so it may have been unable to walk on the seafloor, according to the Royal Ontario Museum. More mandibulate mysteriesOne feature that puzzled and intrigued the scientists had never been seen before in Cambrian animals: a single toothlike structure between Odaraia’s mandibles.
Persons: Odaraia, Alejandro Izquierdo, López, , , Jean, Bernard Caron, Joanna Wolfe, ” Wolfe, Wolfe, ” Mindy Weisberger Organizations: CNN, Royal Ontario Museum, Royal Society, Biological Sciences, University of Toronto’s, Harvard University, , Scientific Locations: Burgess, British Columbia, Canada, centipedes
He was actually assisting criminals in stealing hundreds of thousands of dollars — of his own money. “They kept telling me, ‘This is a big case and we are going to stop a whole ring of people,’” Mr. Heitin said. I was going down the hole with them.”It cost him almost all of his retirement savings: roughly $740,000. Americans spend a lot of energy saving for retirement and worrying about losing money to the gyrations of the stock market. But these days, sophisticated criminals — on dating sites, social media, in messaging apps, or using malicious software — present an ever-growing risk to people and their savings.
Persons: Barry Heitin, , , Heitin
Richard Behar Courtesy: Lizzie CohenYou probably haven't heard Bernie Madoff's name in awhile, but that doesn't mean the infamous fraudster's story is over, or the pain he inflicted. Irving Picard, an 83-old court-appointed trustee, still spends his days trying to claw back money from the those who benefitted from Madoff's Ponzi scheme, and to reduce the staggering losses of others. 'Prison was a great relief for him'AN: How did Madoff say life in prison changed him? In prison, he'd typically wake up in his cell at around 4 a.m., make coffee in bed with an instant hot water machine, then read, or listen to NPR until breakfast. RB: Bernie said he was under constant stress over the Ponzi, and would talk out loud to himself sometimes in the office, because of the pressure.
Persons: Richard Behar, Lizzie Cohen, Bernie Madoff's, Irving Picard, Madoff, Elie Wiesel, Ruth, he's, Behar, Richard Behar's, Mark, MADOFF, BERNARD L, he'd, Annie Nova, I've, I'm, scammers, , Bernard Madoff, Stephen Chernin, I'd, Bernie, Chris Hondros, wasn't, Picard, John Moscow, Irving, Picard isn't, It's Organizations: CNBC, Behar's, Forbes, Manhattan Federal, Getty, NPR, SEC, Manhattan Locations: North Carolina, New York City
From the custom Louis Vuitton cases presenting the Olympic medals and torch, to Armani attire donning Team Italy, luxury and beauty brands will be all over the Paris Games. LVMH is one of the biggest brand partners of the Paris Games, with the conglomerate spending about $160 million, Bloomberg reported. AdvertisementThe Paris Games also represent a return to form, with the crowds back for the first time since the pandemic. "A large amount of the global population will be watching" the Olympics, Fflur Roberts, the global head of luxury at Euromonitor International, told BI. The Olympics are also a high-stakes chance to prove luxury is "worth it" following a recent backlash against sky-high prices.
Persons: , Louis Vuitton, Dior, Harry Poole, SponsorUnited, we've, Ellie Thorpe, Kantar BrandZ, Fflur Roberts, Marguerite Le Rolland, Poole, Octagon, Glossier, there's, Nancy Atufunwa, Stella Jean, Atufunwa, Thorpe, Bernard Arnault Organizations: Service, Olympic, Italy, Paris Games, Business, Bloomberg, Brands, Armani, Games, Excel Sports Management, Paris Olympics, Tokyo Games, Euromonitor, Olympics, Deloitte, USA, Women's, Haiti, Team Nigeria, LVMH Locations: Prada, Paris, Italian, France
London CNN —The value of some of the world’s best-known luxury companies is plunging as Chinese consumers pull back on spending, with even the most exclusive brands feeling the pain. The rout seems to be accelerating, with those sales tumbling 14% in the second quarter, according to results published late Tuesday. “For now, the (luxury) market remains volatile as investors reassess the once-held belief that luxury brands are a safe-haven investment, shielded from broader economic downturns,” Jochen Stanzl, chief market analyst at CMC Markets, told CNN. “The Chinese market contracted slightly; the market situation in the premium and luxury segment in China remained weak,” the company said. China’s economy grew 4.7% year-on-year in the second quarter of the year, according to official data released last week, missing economists’ expectations and marking the weakest growth since the first quarter of 2023.
Persons: Bernard Arnault’s, Louis Vuitton, Christian Dior, ” Jochen Stanzl, Richemont, Cartier, , Gucci, Kering, Hermes, Birkin, Olesya Dmitracova Organizations: London CNN, Prada, CMC Markets, CNN, Europe’s, Reuters, Porsche, Benz, Bain & Company Locations: Asia, Japan, China, Paris, Hong Kong, China , Hong Kong, Macao, North America, Europe, United States
Elon Musk and Bernard Arnault have formed an unexpected friendship, the LVMH chief said. He even suggested the two have talked about a Louis Vuitton-branded SpaceX rocket. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAn unexpected friendship has apparently blossomed between two of the world's richest men: Elon Musk and Bernard Arnault. This story is available exclusively to Business Insider subscribers.
Persons: Elon Musk, Bernard Arnault, Arnault, Louis, , Musk Organizations: CNBC, Louis Vuitton, SpaceX, Service, Paris Olympics, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLVMH CEO on Olympics sponsorship: Want to show France as a creative, refined & craftsmanship countryLVMH chairman and CEO Bernard Arnault joins 'Squawk Box' to discuss the history of the company, 2024 Paris Olympics, how the premium sponsorship came to be, and more.
Persons: Bernard Arnault Organizations: France
LVMH hosted a pre-Olympics party on Thursday called Prelude to The Olympics. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The French conglomerate, overseen by billionaire Bernard Arnault, is believed to have spent $160 million to sponsor the games, Business Insider previously reported. This story is available exclusively to Business Insider subscribers.
Persons: LVMH, influencers, , Anna Wintour, Pharrell, Rosalía —, Louis Vuitton, Fendi, Loewe, Stella McCartney, Bernard Arnault Organizations: Service, Dior, Business Locations: Paris
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with LVMH chairman and CEO Bernard ArnaultLVMH chairman and CEO Bernard Arnault joins 'Squawk Box' to discuss the history of the company, 2024 Paris Olympics, how the premium sponsorship came to be, succession plans, and more.
Persons: Bernard Arnault LVMH, Bernard Arnault
Bernard Arnault's wealth fell by about 20% between late March and late July, per Bloomberg data. There's been a drop in demand for luxury goods, and LVMH posted disappointing earnings this week. Arnault is still the world's third-richest person, with an estimated net worth of $185 billion. AdvertisementLVMH CEO Bernard Arnault's wealth is slumping amid a drop in demand for luxury goods. Still, Arnault remains the world's third-richest person, and the wealthiest outside the US.
Persons: Bernard Arnault's, There's, LVMH, Arnault, , He's, Elon Musk, Jeff Bezos Organizations: Bloomberg, Service, Elon, Business
For the first time a luxury brand is an Olympic sponsor. And it's not just one brand, it's the empire of LVMH . LVMH's sponsorship deal took a year of negotiations and ultimately landed at about $160 million of investment from the parent company of brands like Celine, Louis Vuitton, Loewe, Tiffany, TAG Heuer and Dom Perignon. Housing the medals are trunks made by LVMH brand Louis Vuitton. It's to show the spirit, the spirit of our group and the spirit of the country," said Arnault.
Persons: Bernard Arnault, CNBC's Andrew Ross Sorkin, Celine, Louis Vuitton, Loewe, Tiffany, Dom Perignon, LVMH, Hennessy, LVMH's Berluti, It's Organizations: Olympic, Dior's, TAG Heuer, Olympic Games, Louis Locations: Paris
LVMH's suite of luxury brands will be front and center at the Paris Olympics. The French conglomorate, led by Bernard Arnault, spent $160 million on sponsoring the event. Here are the custom-made LVMH products you will spot at the games. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere will be a couple of unexpected stars at this year's Paris Olympics: Louis Vuitton and Christian Dior.
Persons: Bernard Arnault, , Louis Vuitton, Christian Dior, LVMH, Tiffany Organizations: Paris Olympics, Service, Olympics, Business Locations: sipping, Paris
Read previewCrowdStrike, the cyber security firm responsible for last week's global tech outage, is thanking its partners for their extra work in the aftermath of the crash with $10 Uber Eats gift cards. The first email, which was addressed to CrowdStrike partners, was signed by Daniel Bernard, chief business officer at the company. Related storiesAbout four hours after the Uber Eats voucher was canceled, the source got another email with a $10 credit and the message, "You've been sent a Oops! Uber eats voucher!" The CrowdStrike spokesperson told BI that Uber flagged the gift cards as fraud because so many people were redeeming them.
Persons: , CrowdStrike, Daniel Bernard, Bernard, Uber, You've Organizations: Service, Social, Business, BI, Uber, Windows
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