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☆ Warren Buffett recommends these 5 books—now you can listen to them for free on Spotify
▼ + stars: | 2023-11-11 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Warren Buffett once famously said that the best thing you can do for yourself is read 500 pages a day. And while it may be difficult to set aside nearly a full work day's worth of hours to read, it recently got a little bit easier to consume information like Warren Buffett. That's because this week Spotify announced that it would be making a selection of more than 200,000 audiobooks free for its Premium subscribers. The books available under the new terms include a number that have been recommended by Buffett himself over the course of his legendary career. Here are five books recommended by Warren Buffett that can now be accessed for free on Spotify.

Persons: Warren Buffett, Buffett Organizations: Columbia Business School, Oracle, Spotify Locations: Omaha

☆ Civil rights complaints allege UPenn and Wellesley allowed antisemitism to ‘run rampant’
▼ + stars: | 2023-11-10 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —A Jewish legal rights advocacy group has alleged that the University of Pennsylvania and Wellesley College have violated federal civil rights law by allowing for discrimination against Jews. The Brandeis Center, a Jewish civil rights legal organization, filed civil rights complaints with the US Department of Education on Thursday, alleging both schools failed to adequately respond to harassment of Jews. “These colleges and universities have failed to keep Jewish students safe and are in clear violation of well-established federal civil rights law,” Kenneth Marcus, founder and chairman of the Brandeis Center, said in a statement. The complaints argue both schools have violated Title VI of the Civil Rights Act of 1964, which protects people from discrimination in programs or activities that receive federal financial assistance. The 27-page complaint alleges “Penn’s nurturing of a hostile environment toward Jewish students is a patent violation of” Title VI.

Persons: ” Kenneth Marcus, “ There’s, ” Marcus, ”, UPenn, Wellesley, “ Penn, Brandeis, Liz Magill, Magill, ” Magill, Paula Johnson, ” Johnson, “, RAs, Wellesley’s, CNN’s Rene Marsh, Miguel Cardona, wouldn’t, Cardona, ” Cardona, Henry Swieca, Swieca Organizations: New, New York CNN, University of Pennsylvania, Wellesley, Brandeis Center, US Department of Education, Civil, College, FBI, Ivy League school’s, of Pennsylvania, Penn, CNN, of Education, Ivy League, Columbia Business School, Wall Street, Board, School, ” Locations: New York, Israel, UPenn, Palestine, Wellesley, Gaza, Columbia

☆ WeWork’s bankruptcy could have a painful effect on cities
▼ + stars: | 2023-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

WeWork’s bankruptcy will increase financial stress on commercial landlords that have rented large chunks of their office buildings to the co-working company. About $270 billion in commercial real estate loans held by banks will come due in 2023, according to Trepp, a commercial real estate data provider. “This is another huge problem for the office market to contend with.”No single tenant can make or break the office market, he said. Around 42% of WeWork’s occupancies are in those three cities, according to CoStar, a commercial real estate data firm. Commercial real estate was hit hard by the pandemic, with fewer people returning to offices and spending money in downtown corridors.

Persons: WeWork, ”, Ermengarde Jabir, Goldman Sachs, Stijn Van Nieuwerburgh, Peter Morgan, ” Alie Baumann, can’t, “, ” Baumann, Van Nieuwerburgh Organizations: New, New York CNN, Silicon Valley Bank, Signature Bank, Columbia Business School, Cities, New York City’s Locations: New York, America, Silicon, New York City, San Francisco, Boston, New York City . New York, NYC, New, United States, Columbia

☆ Opinion: Israel-Hamas war’s endgame
▼ + stars: | 2023-11-05 | by ( Richard Galant | ) edition.cnn.com time to read: +20 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Last week, as Israel continued its military response to the October 7 Hamas terror attack, its political goals — and potential endgame — remained a source of huge controversy. Join us on Twitter and Facebook“Take, for example, the Israel Defense Forces strike on Gaza’s Jabalya refugee camp on Tuesday. “Following the horrific massacre in Israel by Hamas terrorists on October 7, I felt an intense, relentless grief. Though Perry wanted to escape Chandler, he kept him around, because heaven forbid anyone saw what he was hiding.”

Persons: Gideon Rose, ”, ” Rose, —, Joe Biden, Robert A . Pape, “, ” DJ Rosenthal, Obama, ’ inhumanity, Jordan, Antony Blinken, ” Shai Davidai, Nadia AbuShaban, Hashem, David Shulkin, Peter Bergen, Hillary Clinton, Donald Trump, Karl Rove, “ Mike Pence, Geoff Duncan, Nikki Haley, Duncan, Ron DeSantis, ” Haley, DeSantis, Lisa Benson, GoComics.com, Michael Ramirez, Trump, Norman Eisen, Joshua Kolb, Donald Trump’s, ” Eisen, Kolb, Leah Abucayan, CNN Maggie Jackson, ” She’s, Gabriel Levin, Frida Ghitis, ‘ Allahu akbar, ’, Ghitis, Wen, Julian Zelizer, Johnson’s, Mike Johnson’s, Biden, ” Paul Krugman, Johnson, Mike Johnson, ’ ”, John Avlon, “ Merriam, It’s, Benjamin Franklin, ’ ” Drew Sheneman, Nicole Hemmer, SBF Clay Jones, Sam Bankman, Howard Fischer, ” Fischer, Sophie Compton, Reuben Hamlyn, “ Chillingly, Taylor, Compton, Hamlyn, Walt Handelsman, Laura Tillman, ” Don’t, Jill Filipovic, Celia Wexler, Pope Francis, Elena Sheppard, ‘, Matthew Perry, Chandler Bing Reisig, Dean Obeidallah, Perry, Chandler Bing, Chandler, ” “ Chandler, I’m Chandler, ‘ I’m, ” Perry, ” Holly Thomas, “ Perry, Roger Organizations: CNN, University of Chicago, ”, Hamas, US National Security Council, Twitter, Facebook, Israel Defense Forces, Israel, Columbia Business School, “, New York Times, Street Journal, GOP, Republican, Trump, UN, Florida Gov, Wednesday’s GOP, Supreme, White, Cornell University, The Cornell Daily Sun, Cornell, Progressives, Internal Revenue Service, Congressional, Office, Electoral College, America, Agency, FBI, NBCU, Bank, Getty Locations: States, Iraq, Israel, Southern Lebanon, Lebanon, Palestinian, “ Israel, Bolivia, Chile, Colombia, Tel Aviv, Gaza, ”, Florida, Wednesday’s, Rhode, Rhode Island, Dagestan, Russian, Lewiston , Maine

☆ Amazon and Shopify sellers are using AI to save time, better understand their customers, and improve their profit margins
▼ + stars: | 2023-11-02 | by ( Madeline Stone | ) www.businessinsider.com time to read: +6 min

They're using AI to write product descriptions and analyze reviews to understand their customers. Sellers using e-commerce platforms like Amazon and Shopify are experimenting with AI to help them write product descriptions, optimize for SEO, and collate reviews so they can better understand how customers feel about their products. Matt Rollens owns a drinking-glass brand called Dragon Glassware and sells his wares on Amazon, Shopify, Etsy, and Walmart. Matt RollensHe told Insider he uses Perci, which uses AI to generate optimized product listings for Amazon sellers. Amazon, Shopify, and eBay have all launched their own AI tools and integrated them directly into the platform.

Persons: —, Matt Rollens, Rollens, there's, Mikey Kim, Olivier Toubia, Toubia, Robert Gomez, Gomez, hasn't, Kaffe, they're, Miqdad Organizations: Service, Walmart, Columbia Business School, Target, QVC, eBay Locations: Shopify

☆ Kind Snacks founder Daniel Lubetzky: The No. 1 green flag I look for before hiring anyone—especially a Gen Z candidate
▼ + stars: | 2023-11-02 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

At job interviews, he screens for self-reflection by asking about past failures and what you, the candidate, would do differently next time. A good answer walks the hiring manager through your thought process so they can see how you evaluate opportunities and solve problems. But if you don't have that skill set, it is much harder to," Lubetzky tells CNBC Make It. Particularly those in [Gen-Z] that develop self-reflection skills will outperform those who don't." Daniel Lubetzky , the billionaire founder of Kind Snacks and frequent guest judge on ABC's "Shark Tank," looks for a green flag when he's hiring: the ability to self-reflect.

Persons: Daniel Lubetzky, Lubetzky, Jerry Colonna, Claire Hughes Johnson, Juliette Han, Han, Warren Buffett Organizations: CNBC, Google, Columbia Business School

☆ WeWork's inevitable retreat is here
▼ + stars: | 2023-11-02 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

NEW LOOK 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 . It comes after the company warned that there was "substantial doubt" about its ability to stay in business back in August. A company that planned to 'change the world'Once the US's most valuable tech startup , WeWork has seen a dramatic fall from grace. Years later, WeWork's financial woes could have dire consequences for commercial real estate.

Persons: WeWork, —, Masayoshi, Adam Neumann, Stijn Van Nieuwerburgh, Neumann Organizations: Service, Beam, BBC, Street Journal, Reuters, Softbank, Columbia Business School Locations: London, Central London, Valley, WeWork

☆ The Federal Reserve leaves rates unchanged. Here's what that means for your wallet
▼ + stars: | 2023-11-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

watch nowThe Federal Reserve left its target federal funds rate unchanged for the second consecutive time Wednesday. What the federal funds rate means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. To a certain extent, many households have been shielded from the brunt of the Fed's rate hikes so far, House said. As the federal funds rate rose, the prime rate did as well, and credit card rates followed suit. If the 10-year yield stays near 5%, federal student loan interest rates could increase again when they reset in the spring, costing student borrowers even more in interest.

Persons: Brett House, that's, Sung Won Sohn, Sohn, bode, Greg McBride, Sam Khater, Freddie Mac's, Tiffany Hagler, Bankrate, Jacob Channel Organizations: Federal Reserve, Fed, Columbia Business School, Loyola Marymount University, SS Economics, Treasury, Geard, Bloomberg, Getty, Auto Locations: Larchmont , New York

☆ In the Market: Treasury market braces for seismic SEC rule
▼ + stars: | 2023-10-30 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

SIFMA, which has lobbied the SEC, expects the final rule next month, ahead of a Treasury market conference on Nov. 16. The SEC rule would be the most significant regulation so far to come out of that review. There is broad consensus on the need for Treasury market reform, including the benefits of central clearing -- even among the industry sources interviewed for this article. "It is going to improve financing and reduce the risks for turmoil in the U.S. Treasury market," said Yiming Ma, an associate professor at Columbia Business School. The SEC rule would force the banks to move that to central clearing.

Persons: Andrew Kelly, JPMorgan Chase, ”, Rob Toomey, SIFMA's, Gary Gensler, Banks, Ma, SIFMA, Toomey, Paritosh Bansal, Anna Driver Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Treasury, SEC, JPMorgan, Bank of New York Mellon, Federal Reserve, U.S . Treasury, Columbia Business School, Depository Trust, Clearing Corp, Thomson Locations: Washington ,, U.S

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ Hedge fund billionaire Leon Cooperman: Students protesting Israel have ‘sh*t for brains’
▼ + stars: | 2023-10-27 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Hedge fund billionaire Leon Cooperman is blasting college students for protesting against Israel, joining a growing list of powerful university donors to speak out on the issue. “These kids in college have sh*t for brains,” Cooperman told CNN in a phone interview. Earlier this month, a Columbia University student who was hanging up posters in support of Israel was assaulted. Samantha Slater, a Columbia University spokesperson, declined to comment on whether the university plans to take disciplinary action against Massad. “Columbia is grateful to Mr. Cooperman for his years of generosity and service to Columbia Business School,” Slater said in a statement to CNN.

Persons: Leon Cooperman, ” Cooperman, “, “ It’s, I’m, ”, Cooperman, Israel, he’s, ” Joseph Massad, Samantha Slater, ” Slater, It’s, ’ they’re, CNN’s Reid Champlin Organizations: New, New York CNN —, Israel, CNN, Hamas, Fox Business, Columbia University, Ivy League, Columbia, Massad, Columbia Business School Locations: New York, Israel, United States, Bronx, Columbia, “, ”

☆ Morgan Stanley's Pick and Gorman talk succession, strategy and challenges
▼ + stars: | 2023-10-26 | by ( Tatiana Bautzer | Thomson Reuters | Tatiana Bautzer Is A U.S. Banking Correspondent At Reuters In New York. She Previously Covered Banks In Brazil | ) www.reuters.com time to read: +3 min

Companies Morgan Stanley FollowNEW YORK, Oct 25 (Reuters) - Morgan Stanley's (MS.N) current CEO James Gorman and incoming CEO Ted Pick spoke with Reuters about the company's leadership succession and strategy. On strategy: "There is no change in strategy. JAMES GORMANOn Pick: "We picked (Pick) because he's had a long history of showing he's an exceptional operator. It takes, it takes enormous resilience and mental toughness, and he's got that." I chair Columbia Business School, I have a role at University of Melbourne, and I'll do a bit of that.

Persons: Morgan Stanley, Morgan Stanley's, James Gorman, Ted Pick, Gorman, we've, James, Smith Barney, Eaton Vance, We've, Andy Saperstein, Dan Simkowitz, Dan, Andy, JAMES GORMAN, he's, Ted, Tatiana Bautzer, Lananh Nguyen, Sonali Paul Organizations: Reuters, TED, Columbia Business School, University of Melbourne, DOJ, SEC, Thomson

☆ Billionaire who gave $25m+ to Columbia says students are stupid for not supporting Israel, threatens to stop donating
▼ + stars: | 2023-10-26 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A billionaire Columbia grad said college students have "shit for brains" for not supporting Israel. AdvertisementAdvertisementA billionaire who gave more than $25 million to Columbia University said students had "shit for brains" for not supporting Israel, and he may have to donate elsewhere unless he sees a "change.'" Leon Cooperman, the chairman and CEO of Omega Advisors and a 1967 graduate of Columbia Business School, made the comments during an appearance on "The Claman Countdown" on Fox Business on Wednesday afternoon. He was primarily referring to a walkout at Columbia University on Wednesday, where students stepped out of their classes to support Palestinians amid worsening violence in Gaza. AdvertisementAdvertisementThe hedge fund boss said he has given "probably about $50 million over many years" to Columbia University.

Persons: —, Leon Cooperman, Cooperman, Joseph Massad Organizations: Columbia, Service, Columbia University, Omega Advisors, Columbia Business School, Fox Business, Wednesday, Modern, Hamas Locations: Israel, Columbia, Gaza

☆ Columbia University postpones major fundraiser amid tensions over Israel-Hamas war
▼ + stars: | 2023-10-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Columbia University has postponed its massive Giving Day fundraising event scheduled for Wednesday amid simmering tensions on campus over the Israel-Hamas war. At Columbia, school officials took the rare step earlier this month of shutting the campus down to the public as two simultaneous rallies were held on school grounds. That decision came after the assault of a Columbia student who was hanging up posters on campus in support of Israel. In a statement on Tuesday, the alumni club of Israel said it is now “formally disengaged” from UPenn. We are reviewing this incident and will take any appropriate steps with respect to the individuals involved in accordance with university policies,” the university said.

Persons: “, Samantha Slater, ”, Minouche Shafik, Shai Davidai, Shafik, it’s, ” Davidai, “ Ben Franklin, Doc Hoch, Dalia Hope Levine, Liz Magill, Dick Wolf, Jon Huntsman, Cliff Asness, Marc Rowan, Rowan, Emil Woods, Magill, “ Penn, Penn, ” Woods, Rowan . Woods Organizations: New, New York CNN — Columbia University, Columbia, University, Columbia Business School, University of Pennsylvania, Penn Alumni Club of Israel, Ivy League, Palestine, CNN, “, George Washington University Locations: New York, Israel, Columbia, Gaza, America, UPenn, New Jerusalem, Jerusalem, Palestine, Washington , DC

☆ Treasury bond auctions may eventually fail because investors will see federal deficits as too unsustainable, Columbia finance professor warns
▼ + stars: | 2023-10-24 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

Ballooning government deficits could lead to failed Treasury auction soon, a Columbia Business School professor said. NEW LOOK 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 . "One of the possibilities that's driving bond yields higher is the concerns about inflation risk related to the cumulative effect of debt," Calomiris said in a CNBC interview on Monday. Investors, who are increasingly worried about mounting US deficits, choose to keep their money out of Treasurys.

Persons: —, Charles Calomiris, Calomiris, Ed Yardeni Organizations: Treasury, Columbia Business School, Service, CNBC, Fitch

☆ Cumulative effect of the deficit could force the Fed to buy debt, says Columbia's Charles Calomiris
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCumulative effect of the deficit could force the Fed to buy debt, says Columbia's Charles CalomirisCharles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School, joins 'The Exchange' to discuss fiscal dominance of debt and deficit overwhelming the Fed, debt and deficits creating a high government debt-to-GDP ratio, and more.

Persons: Columbia's Charles Calomiris Charles Calomiris, Henry Kaufman Organizations: Columbia Business School

"When the 10-year yield goes up, it will have a knock-on effect for almost everything," according to Brett House, economics professor at Columbia Business School. There are many factors driving the recent spike in Treasury yields, economists said. Most of the recent jump in Treasury yields is due to a so-called term premium, said Andrew Hunter, deputy chief U.S. economist at Capital Economics. Student loans could get pricierThere is also a correlation between Treasury yields and student loans. The government sets the annual rates on those loans once a year, based on the 10-year Treasury.

Persons: Jerome Powell, Mark Hamrick, Brett House, Andrew Hunter, Hunter, Tony Dwyer, Canaccord Genuity, Freddie Mac, Eugenio Aleman, Raymond James Organizations: Federal, Stock, Fed, Columbia Business School, Treasury, Capital Economics Locations: U.S

"When the 10-year yield goes up, it will have a knock-on effect for almost everything," according to Columbia Business School economics professor Brett House. Why Treasury yields have jumpedA bond's yield is the total annual return investors get from bond payments. There are many factors driving the recent spike in Treasury yields, economists said. Student loans could get pricierThere is also a correlation between Treasury yields and student loans. The government sets the annual rates on those loans once a year, based on the 10-year Treasury.

Persons: Jerome Powell, Mark Hamrick, Brett House, Andrew Hunter, Hunter, Freddie Mac, Eugenio Aleman, Raymond James Organizations: Treasury, Columbia Business School, Fed, Capital Economics Locations: U.S

☆ This Morgan Stanley veteran is ready to be CEO — it just might be somewhere else
▼ + stars: | 2023-10-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

Morgan Stanley CEO James Gorman plans to retire by May 2024. "Cross-pollinating key leaders across our major businesses further knits the Morgan Stanley culture," Gorman wrote in a memo at the time. Morgan Stanley, which was the lead underwriter, had to step in to prop up the stock. In 2010, Morgan Stanley was picked as one of two lead underwriters — the other being JPMorgan — for the IPO of General Motors. With Morgan Stanley at the top of its game, breaking up this well-oiled team could be disastrous.

Persons: Morgan Stanley, James Gorman, Ted Pick, Andy Saperstein, Dan Simkowitz, He's, Simkowitz, Eaton Vance, Pick, Morgan, Getty, Dan, doesn't, Gorman, Morgan Stanley's, Saperstein, executive's protégé, Andy, Alex, Brown, Ted, she'd, Simkowitz's, Dean Witter Reynolds, Eaton, Calvert, Ruth Porat, Bob Scully, Fannie Mae, Freddie Mac, Will Dotson, Dan Akerson, TIMOTHY A, CLARY, Erik Gordon, Dodd, Frank, David Bieri, Gonzalo Marroquin, Patrick McMullan, Paul Taubman, Colm Kelleher, coheads, John Mack, Phil Purcell, Hayley Cuccinello Organizations: Disney, Harvard, McKinsey, Columbia Business School, Maccabiah Games, Team USA, Maccabi USA, Trenton Almgren, Davis, Lucent, Verizon, Mesa West Capital, JPMorgan, Calvert Research, Management, Facebook, Massachusetts Securities Division, Treasury, JPMorgan —, General Motors, Government Motors, General, New York Stock Exchange, Getty, University of Michigan's Ross School of Business, Citigroup, Virginia Tech, US Securities and Exchange Commission, United States Attorney's Office, Southern, of Locations: Bloomington , Indiana, Trenton, New York, Tokyo and Hong Kong, Boston, Washington, Switzerland, of New York, hcuccinello@insider.com

☆ Splurging on Taylor Swift tickets and a 'funflation' economy is hitting Best Buy's sales, says its CEO
▼ + stars: | 2023-10-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

"Funflation" refers to higher consumer demand for fun experiences, which inflates the prices of these experiences. Big ticket items in electronics are drawing less consumer interest than Taylor Swift tickets and other fun experiences, Barry said at a Fortune event. AdvertisementAdvertisementCorie Barry, the CEO of electronics retailer Best Buy, thinks that splurging on Taylor Swift tickets and "funflation" is hurting her company's bottom line. Bloomberg analysts estimated in August that Taylor Swift and Beyoncé's concert tours would add around $5.4 billion to the US economy's GDP. Best Buy and Barry did not immediately respond to requests for comment from Insider, sent outside regular business hours.

Persons: Corie Barry, Taylor Swift, Barry, —, splurging, Brett, Insider's Sirena Bergman Organizations: Service, Bloomberg, Columbia Business School, Bank of America

☆ The Biden administration wants to completely ban the hidden fees that make your plane and concert tickets unexpectedly expensive
▼ + stars: | 2023-10-11 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The FTC proposed a rule on Wednesday that would ban all hidden and misleading fees. Businesses who use hidden fees might have to give consumers refunds, per the rule. AdvertisementAdvertisementThe Biden administration has been trying to crack down on the hidden fees that pop up when you try to book a plane or a concert ticket or even just order food — and now wants to outright ban them. Those junk fees "plague" Americans across all sorts of transactions. The CFPB's Wednesday guidance clarified that provision to ensure every American knows they do not need to pay junk fees to get basic information from their bank.

Persons: —, Biden, Lina Khan, Khan, that's, Vicki Morwitz, Morwitz, Rohit Chopra, Lael Brainard Organizations: FTC, Service, Federal Trade Commission, Columbia Business School, Consumer Financial, —, Economic Locations: America, United States

☆ California says goodbye to junk fees — no more hidden charges that aren't advertised up-front
▼ + stars: | 2023-10-09 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

California governor Gavin Newsom has signed into law a new bill that outlaws hidden junk fees. The Consumer Financial Protection Bureau estimates that Americans spend at least $29 billion a year on junk fees. AdvertisementAdvertisementThe nonprofit watchdog Consumer Reports estimated in 2019 — based on a survey of more than 2,000 US adults — that 85% of Americans have been charged hidden junk fees. President Joe Biden has made combating junk fees a key priority for his administration since 2022. Biden said in July that "folks are tired of being played for suckers" as he announced measures cracking down on junk fees in the rental housing market.

Persons: Gavin Newsom, —, Sen, Bill Dodds, Nancy Skinner, Vicki Morwitz, Morwitz, Joe Biden, Biden Organizations: Consumer Financial, Service, NBC, SB, Consumer, Bureau, CBS, Columbia Business School Locations: California

☆ Holiday shoppers are getting an early jump on the season, but student loan payments weigh heavily
▼ + stars: | 2023-09-28 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Twenty/20October is unofficial start of holiday shopping seasonThis year, half of shoppers plan to begin their holiday shopping by Halloween, according to a recent Bankrate report. Early estimates point to a strong shopping seasonWith more shoppers getting an early start on the season, holiday retail sales are likely to increase between 3.5% and 4.6% in 2023, according to Deloitte's annual forecast. "We expect healthy employment and income growth to keep the volume of sales growing for the 2023 holiday season," said Daniel Bachman, Deloitte's U.S. economic forecaster. Student loan payments could weigh on wallets"Student loan payments are another drag on the consumer," said Brett House, professor of professional practice in economics at Columbia Business School. "On the other hand, labor markets remain strong," House added.

Persons: RetailMeNot, Daniel Bachman, Matthew Shay, Jack Kleinhenz, Brett House Organizations: National Retail Federation, Columbia Business School Locations: Deloitte's U.S

☆ What a stressed commercial real estate market means for these exposed bank stocks
▼ + stars: | 2023-09-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +9 min

Banks are facing mounting uncertainty as the commercial real estate (CRE) sector continues to struggle. Commercial real estate landscape Higher interest rates, tightening credit conditions and elevated office vacancies are weighing down the estimated $21 trillion commercial real estate sector . A lagging commercial real estate market can strain a bank's capital reserves while a stronger market can boost incomes from lending and fees. While there's reason for concern in the broader commercial real estate market, we see the most pronounced challenges unfolding in offices. CEO Charlie Scharf said the bank sustained "higher losses in commercial real estate, primarily in the office portfolio."

Persons: Banks, Wells, Morgan Stanley, Morgan Stanley's dealmaking, Tomasz Piskorski, Piskorski, Jim Cramer, Morgan, deteriorations, Tailwinds, JPMorgan Chase, Wells Fargo, Michael Santomassimo, Charlie Scharf, Jeff Marks, Wells Fargo execs, Santomassimo, Jim Cramer's, Jim, Collin Madden, Karen Ducey Organizations: Columbia Business School, Federal Reserve, CNBC, That's, Semiconductor, Arm Holdings, Rivian, IB, Barclays, JPMorgan, GEM, Estate Partners, South Lake Union Locations: Wells, CRE, U.S, Wells Fargo, South Lake, Seattle , Washington

☆ It's not just you. LinkedIn has gotten really weird.
▼ + stars: | 2023-09-25 | by ( Rob Price | ) www.businessinsider.com time to read: +19 min

The number of LinkedIn posts grew 41% from 2021 to 2023. A larger rival account emerged, State Of LinkedIn, and a Reddit community thrived — "LinkedIn Lunatics." "Do you realize how dangerous it is to troll via LinkedIn posts? For most people, their LinkedIn posts don't escalate so rapidly. According to Joseph Yeh, a tech recruiter in California who used to work for LinkedIn, revelatory posting is a balancing act.

Persons: Matthew Sciannella, I'm, Sciannella, he'd, Peter Rota, Rota, Xavier Lalanne, There's, Oversharing, Gen, Catalina Valentino, Elon, Sarah Frier, John Hickey, Ted Talkification, you'd, Hickey, Peter Rota's, Hickey wasn't, ominously, Jack Raines, sagely, Alexander Cohen, Cohen's, Raines, Cohen, Jacqueline Rainey —, he's, Young, —, , John Reid, Jon Franko, Franko, Instagram, @BestofLinkedIn, Reid, hypocritically, Joseph Yeh, Yeh, Daniel Roth, Fortune, Roth, Sciannella's, didn't, Slack, Franko's, Jameson, who's, He's, Rob Price Organizations: LinkedIn, Facebook, Microsoft, peeing, Economic, Twitter, Bloomberg, Columbia Business School, New York, New York Mets Locations: Washington, DC, Massachusetts, Davos, San Francisco, San Francisco Bay, New York City, Columbia, Manhattan, Bay, Oakland, California

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