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☆ President Joe Biden ended his reelection bid. What's next?
▼ + stars: | 2024-07-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, President Joe Biden ended his reelection bid . The president ended his reelection campaign on Sunday, the culmination of mounting pressure from his party after a disastrous debate last month. Meanwhile, former President Donald Trump said in a post on Truth Social that "Crooked Joe Biden was not fit to run for President." Biden's reelection campaign has quickly pivoted to serve Harris, making it an uphill battle for any Democrat looking to challenge her , writes Business Insider's Brent D. Griffiths. Many have made comparisons to the 1968 Democratic convention , which was a contested convention after President Lyndon B. Johnson ended his reelection campaign earlier that year.

Persons: —, Joe Biden, Biden, Alyssa Powell, BI Joe Biden, Elon Musk, Reid Hoffman, Donald Trump, Kamala Harris, Harris, Jared Siskin, Biden's, Insider's Brent D, Griffiths, Hillary Clinton, BI's Bryan Metzger, Lyndon B, Johnson, Hubert Humphrey, Humphrey, Richard Nixon, Brent, Here's, Sieg, Merrill Lynch, Abanti Chowdhury, Andy Sieg, Warren Buffett's, Buffett, Paul Chinn, Andrew Caballero Reynolds, Marc Andreessen, he'd, Andreessen, Trump, BI's Adam Rogers, OpenAI, Sam Altman's, slowdowns, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Democratic, Madison, Park Conservancy, Citi Wealth, BI Citi Wealth, Bank of Montreal, Buffett Locations: Park, Plenty, Washington, Chicago, Southern, New York, London

☆ Big-dollar Democratic donors are split: Hold the line or abandon Biden?
▼ + stars: | 2024-07-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +8 min

Advertisement"The donors that I'm in contact with are solidly behind Biden because we know Biden and Harris can defeat Trump," Ajay Bhutoria, the deputy national finance chair of Biden's National Finance Committee, told Business Insider. A spokesperson for the Biden campaign declined to comment on this story, and a Democratic National Committee spokesperson did not respond to a request for comment. Two wealthy donors told BI that they've lost faith in the Biden campaign just in the past month and that a new, younger Democratic nominee is needed to energize the base. But on Wednesday, the donor told BI that their thinking, along with other donors they have spoken to, has changed. Wasn't just the debate but everything since," the donor told BI in a text message on Wednesday.

Persons: —, Joe Biden, Reed Hastings, Gideon Stein, Biden, aren't, Harris, Donald Trump, Trump, Ajay Bhutoria, Lauren Hitt, Jeffrey Gural, Joe, Gural, Wasn't, Pres Biden, Bill Harris, Kamala Harris, Sen, Cory Booker of, Dem, that's, Amy Goldman Fowler, Peter Lowry, Lloyd Austin, Bhutoria, he's, Biden's Organizations: Service, Netflix, Business, Democratic, Biden, Biden's National Finance Committee, Democratic National, Fund, New York Times, Times, PayPal, Washington Post, MSNBC, The Times, Capitol, House, CNN, Senate Locations: Cory Booker of New Jersey

The economy is on everyone's mind, whether paying off student debt, looking to buy a home, or applying for health insurance. Here's what life would look like under a Trump vs. a Biden presidency. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Organizations: Trump, Biden, Business

☆ I was on a flight that received a bomb threat. We were treated like suspects, and the police examined everyone's handwriting.
▼ + stars: | 2024-07-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

I haven't traveled alone a lot — this was probably my second flight alone. There was a creator campaign going on, and their head office is in Mumbai, so I traveled from Delhi for that. Through overhearing cops, I figured out there was a tissue found in the plane that had "Bomb on flight" written on it. The police asked us to write "Bomb on flight" in our own handwriting with our seat number. Then they took us all in two different sections to write "Bomb on flight," I think 36 times — dividing your tissue into four and writing on alternate sides.

Persons: —, Molina Singh, haven't, I've, We'd, people's MacBooks Organizations: Service, Akasa, YouTube, Business Locations: Delhi, Mumbai, Ahmedabad

Here are the best retirement plans, calculators, investment strategies, and tips you can use to ensure your retirement savings plan is on track. Understanding retirement needsAssessing your retirement needsUnfortunately, there's no general number to aim for when saving toward retirement. Financial experts recommend delaying Social Security until you reach full retirement age (age 70). This rule states that retirees can withdraw up to 4% of their retirement savings in year one of retirement. The 4% rule in retirement planning suggests withdrawing 4% of your retirement savings each year to prevent you from prematurely running out of money for at least 30 years.

Persons: there's, you'll, doesn't, Roth, IRAs, They're, Jim Ludwick, Ludwick, Tolen Teigen, Everyone's, It's Organizations: Fidelity, Social Security, Security, Garrett Planning, Consulting, Chevron, Business Locations: U.S

What is a Master Promissory Note (MPN)? A Master Promissory Note, or MPN, is a legal document that outlines the terms and conditions of your federal student loans. Note: You'll only have to fill out one Master Promissory Note for all the federal student loans you take out while you're in school, provided your enrollment is continuous. Why the MPN mattersIt's important for student loan borrowers to sign and understand an MPN for the following reasons:It's Not Optional: Required to receive federal student loans. Defaulting on a federal loan will cause you to lose eligibility to receive federal student aid.

Persons: Mark Kantrowitz, You'll, Stacey MacPhetres, Andrew Pentis Organizations: Parent PLUS, Department of Education, Bright, Borrower's, Loan, Federal, Aid Locations: Chevron

☆ What to know about Devin Strader, the Pete Davidson-esque 'Bachelorette' contestant whose big personality is already causing drama
▼ + stars: | 2024-07-16 | by ( Olivia Singh | ) www.businessinsider.com time to read: +3 min

From the outset, he established himself as someone who's loud, family-oriented, and has a big personality — which Jenn immediately took a liking to. Will Devin's big personality get him into trouble this season? In the season premiere, Devin, who was raised by a single mom, said his family-oriented mindset stemmed from having a difficult upbringing. Related storiesDuring a one-on-one conversation with Jenn, Devin credited his talkative personality to being the oldest in his family. AdvertisementDuring the season premiere, Devin said that his perfect life involves a happy family comprised of a wife, kids, and maybe some dogs.

Persons: —, Jenn Tran, Devin Strader, Jenn, Pete Davidson, Devin, Thomas, Will Devin's, John Fleenor, he's, wasn't, Charlie Devin, Charlie Organizations: Service, Business, Disney, Louisiana State University, Shark Logistics, F1 Freight Consultants, ABC Locations: Houston, Texas, Hulu

☆ Inside the Ambani wedding: Details you may have missed, according to a guest who was there all weekend
▼ + stars: | 2024-07-15 | by ( Maria Noyen | ) www.businessinsider.com time to read: +8 min

Unlike the main wedding festivities over the weekend, this event was "just for close family and friends," she said. AdvertisementMukesh Ambani, the Chairman of Reliance Industries, Isha Piramal, Anand Piramal, Nita Ambani, Anant Ambani, Rihanna, Radhika Merchant, Shloka Mehta Ambani and Akash Ambani stand on the stage. Decorations around the Ambani family's residence in Mumbai, India, ahead of the wedding of Anant Ambani on July 12. Priyanka Chopra Jonas and Nick Jonas attend the Ambani wedding on Friday. Kim Kardashian and Khloe Kardashian were among a number of high-profile guests at the Ambani wedding in Mumbai.

Persons: —, Anant Ambani, Radhika Merchant's, Merchant's, I'm, Nita Mukesh Ambani, Mukesh Ambani, Isha Piramal, Anand Piramal, Nita Ambani, Rihanna, Radhika Merchant, Shloka Mehta Ambani, Akash Ambani, Justin Bieber, You'll, They're, Ambani, Bhushan Koyande, Celebrities, Preston Bailey, Anant, Priyanka Chopra Jonas, Nick Jonas, Francis Mascarenhas, everyone's, Kim Kardashian, Khloe Kardashian, Kardashian, Narendra Modi, Luis Fonsi, John Cena, PUNIT PARANJPE, didn't, Law Roach Organizations: Service, Business, sangeet, Reliance Industries, Reuters, Staff, Hindustan Times, Getty Images Merchant, Vogue, Hollywood, Food, India's Locations: Mumbai, India, Bombay

☆ As the Ambani wedding gets underway — here's why Indian nuptials are so big and glamorous
▼ + stars: | 2024-07-12 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +3 min

(L to R) Anand Piramal, Mukesh Ambani, Radhika Merchant, Anant Ambani, Neeta Ambani, Isha Ambani Piramal, Shloka Mehta Ambani and Akash Ambani pose for the media during a photo opportunity at the red carpet ceremony to celebrate the engagement of Anant and Radhika at Ambani's Antilia residence in Mumbai, India, on Jan. 19, 2023. Mukesh Ambani is the billionaire chairman of Indian conglomerate Reliance Industries, and his youngest son Anant Ambani is marrying Radhika Merchant, the daughter of Viren Merchant, owner of Encore Healthcare. The billionaire family have spotlighted the glitz and glamour of Indian weddings on the world stage, and piqued people's curiosity about why weddings are such a big affair in Indian culture. Additionally, Indian weddings appear to be really spectacular because Indians tend to have big families, various religious and cultural events, and colorful attire and jewelry, according to Karishma Manwani, a London-based luxury wedding planner for Indian weddings. Manwani and Suglani explained the culture and tradition underpinning big Indian weddings.

Persons: Anand Piramal, Mukesh Ambani, Radhika Merchant, Anant Ambani, Neeta Ambani, Isha Ambani Piramal, Shloka Mehta Ambani, Akash Ambani, Anant, Radhika, Ambani's, Viren Merchant, Mark Zuckerberg, Shah Rukh Khan, Rihanna, Justin Bieber, Priya Suglani, Karishma, Manwani, Suglani Organizations: Reliance Industries, Encore Healthcare, BBC, London, CNBC, shimmer Locations: Mumbai, India, Jamnagar, Gujarat, London

☆ When Tenants Get Illegally Locked Out, Landlords Often Win.
▼ + stars: | 2024-07-10 | by ( Cecilia Reyes | ) www.businessinsider.com time to read: +32 min

A handful of states, including Texas and Nevada, have set up dedicated systems designed to restore tenants to their homes after an illegal lockout. She and her family still don't have a new apartment, she said, and the eviction cases on her record don't help. BI reviewed two years' worth of lockout cases from the department and found city lawyers routinely dismissed tickets, often without documenting why. Bridget Bennett for Business InsiderThat afternoon, Brown had three cases on his docket in which tenants were alleging they'd been illegally locked out and dozens of cases in which landlords were seeking formal evictions. In 2022, Miami-Dade County passed a tenant's bill of rights that underlines the illegality of lockouts and limits a landlord's ability to harass tenants.

Persons: Henisha Dunn, Dunn, Zion Griffin, Griffin, Dunn's, Alyssa Pointer, —, Caryn Schreiber, Paul Panusky, He's, Jeffrey Uno, Uno, David Brogan, Griffin's, didn't, Brandon Johnson, Abel Uribe, Rolando Quebrado, lockouts, Quebrado, Pangea, Troy Marr, Marr, James Byczek, Byczek, Michael Dudek, wasn't, Dudek, Marr's, lockouts that's, David Brown, Bridget Bennett, Brown, they'd, They're, doesn't, Dana Karni, Karni, Brooke Boyett, Harris, Marlon Coleman, Coleman, Shay Awosiyan, Mr, Awosiyan, he'd, Callaghan O'Hare, Schreiber, Jay Trumbull, Trumbull, Tom Butler, Ron DeSantis, Joe Raedle, Florida's, Austin, Coleman's Organizations: Business, BI, Survey, Department of Justice, Legal, Foundation of Los, New, Apartment Association, Atlanta Legal, Chicago police, Police, Chicago, Nevada Business, Regional Justice Center, Las Vegas Regional Justice Center, Las Vegas Justice, Justice, Lone Star Legal, Harris County's, Administration, Houston, Texas Excel Property Management, Houston Police Department, Excel's Villa Nueva, Texas Excel, Apartments, Republican, Florida Realtors, Gov Locations: Georgia, New Jersey, Minnesota, California, Texas, Nevada, New York, Atlanta, Michigan, Foundation of Los Angeles, Fulton County, Chicago, Chicago's Jefferson, They're, Las Vegas, Harris County, Houston, In Texas, Harris, Greater Inwood, Miami, Dade County, Florida, Dallas, Applebee's

☆ I spent my early 20s renting in expensive US cities. Life isn't cheaper for me in the suburbs, but it's better and more fun.
▼ + stars: | 2024-07-10 | by ( Amory Rose | ) www.businessinsider.com time to read: +7 min

I was there most of my life, except for the two years I spent in downtown Jersey City, New Jersey. Jersey City — nicknamed New York's Sixth Borough by some — has also become one of the most expensive US cities to live in. To live comfortably in Jersey City or New York City, a single person needs to make over six figures. AdvertisementSince I work remotely, I gave up on city life to move to a suburban area of Pennsylvania almost a year ago. In downtown Jersey City, I've seen nothing available to rent for even close to that price.

Persons: —, It's, That's, hasn't, I'd, it's, Gary Hershorn, I've, I'm Organizations: Service, New, Sixth, Business Locations: Staten Island, New York City, Jersey City , New Jersey, Jersey, Manhattan, Jersey City, Pennsylvania, Staten, Philadelphia, Yorkers, New Jersey, I'm

☆ I've worked as a hair and makeup artist for years. Here are my favorite drugstore dupes for high-end products.
▼ + stars: | 2024-07-09 | by ( Meredith Schneider | ) www.businessinsider.com time to read: +1 min

I worked as a hair and makeup artist for more than six years, and I love drugstore products. High-end products from brands like NARS and Too Faced are great, but ELF and NYX are on par. For hair, I love the Dove felxible-hold hairspray — its the closest I've found to my holy grail. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: —, I've Organizations: Service, Business

☆ School's out, and parents' financial stress is in
▼ + stars: | 2024-07-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Speaking of money and vacations: In today's big story, summer vacation means financial stress for parents looking to keep their kids busy while school is out without breaking the bank . The big storyThe cost of summeriStock; Rebecca Zisser/BISchool's out for summer, but the relief for kids is causing financial pain for their parents. Further complicating things is most camps don't cover the two-plus months parents need to fill for their kids. The result is sometimes a patchwork system of camps and part-time nannies that parents need to cobble together. AdvertisementThis year, skincare products proved to be a lightning rod for kids and parents at elite summer camps , writes BI's Anna Silman.

Persons: —, Rebecca Zisser, Juliana Kaplan, Madison Hoff, Kate Dehler, BI's Anna Silman, Anna, You've, Goldman Sachs, it's, Alyssa Powell, Gen, Vladimir Putin, Narendra Modi, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, Karma, Hindenburg Research, Adani, Bank of, Samsung, Indian, The Locations: What's, Al, Florida, Russian, New York, London, Chicago

☆ Don't let 'upflation' fool you into spending more on beauty products
▼ + stars: | 2024-07-06 | by ( John Towfighi | ) www.businessinsider.com time to read: +1 min

"Upflation" describes how companies create new uses for personal care products and up-charge prices. While it's an expensive trend, overall shampoo and deodorant prices have trailed behind inflation. Inflation is up about 22% since January 2020, while prices for care products are up roughly 12%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Now, upflation is the new strategy used by companies looking to increase profits on everyday products.

Persons: — Organizations: Service, Procter, Gamble, Bloomberg, Business

☆ Gina Gershon on Her Best Movie Roles: 'Bound,' 'Showgirls,' 'Killer Joe'
▼ + stars: | 2024-07-05 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +15 min

On defying her agents to star in 'Bound' and finding Corky's look in San Francisco lesbian barsJennifer Tilly and Gina Gershon in "Bound." I was hesitant to take on any role coming off of "Showgirls," just because, honestly, I was pretty burnt out. When the script for "Bound" was sent to us, my agents were pretty clear saying, "Listen, you are not doing this movie. On her 'Showgirls' PTSD and why she's come around on the movieGina Gershon in "Showgirls." I'm really into it."

Persons: Gina Gershon, —, It's, Gershon, Louie, who's, she's, Paul Verhoeven's, Corky, Jennifer Tilly's femme, Violet, Jennifer Tilly, Lana, Lilly Wachowski, They've, I've, Susie Bright, Jennifer, Tilly, Susie, couldn't, I'm, Let's, Elizabeth Berkley's, Lili Anolik, Paul, Verhoeven, Chekhov, I'd, That's, you've, she'd, Matthew McConaughey, Joe, Matthew McConaughey's, Tracy Letts, William Friedkin, Billy wasn't, Billy, Matthew, Nicolas Cage, Nicolas, John Woo …, John Woo, Nick Cassavetes, John, Jason Guerrasio, Cate Blanchett, Jamie Lee Curtis, Kevin Hart Organizations: Business, Pride, LD Locations: San Francisco

☆ Inflation will be in focus in the week ahead as stocks attempt to sustain all-time highs
▼ + stars: | 2024-07-05 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Some key inflation readings in the week ahead could bolster the case for a September interest rate cut, as investors deliberate how long stocks can sustain their rally to record highs. After a rocky start to the year, a recently improving inflation picture has investors hopeful the Federal Reserve could soon start to lower rates. Stubborn inflation patches The June consumer price index is expected to show a slight improvement in the headline number. In May, for example, shelter inflation rose 0.4% on the month and 5.4% on the year, while other key items declined. Monday, July 8 3 p.m. Consumer Credit (May) Tuesday, July 9 6 a.m. NFIB Small Business Index (June) Wednesday, July 10 10 a.m. Wholesale Inventories final (May) Thursday, July 11 8:30 a.m. Consumer Price Index (June) 8:30 a.m.

Persons: nonfarm payrolls, Mark Malek, FactSet, there's, Ross Mayfield, Baird, Mayfield, David Kelly, CNBC's, Wells, Price, JPMorgan Chase Organizations: Reserve, Dow Jones, Nasdaq, CPI, PPI, FactSet, University of Michigan, Asset Management, Citigroup, JPMorgan Chase, PepsiCo, Delta Air Lines, Consumer Credit, Treasury Budget, Air Lines, Conagra, JPMorgan, Bank of New York Mellon Locations: U.S, Wells Fargo, Michigan, Fastenal

☆ Influencers have changed the ad industry. Now what?
▼ + stars: | 2024-07-04 | by ( Gaelle Legrand | ) www.cnbc.com time to read: +9 min

Commercial playsTania Bryer: In 1994, it was considered groundbreaking – using an ad to flip gender roles on their head. They're somehow interacting with brands through the prism of influencers, and it gives them a way to talk back. Tania Bryer: A 2019 Edelman study revealed that consumers' trust in the brands they purchase from had declined, but trust in influencers was up. Tania Bryer: And Chawawa says that trust also extends to the type of influencer brands work with. Tania Bryer: And while that may be convenient for brands, creator economy strategist Jamie Gutfreund says it can hurt influencers.

Persons: Tania Bryer, Munya Chawawa, Instagram, Munya, Richard Edelman, Edelman, They're, Joe Gagliese, There's, that's, it's, TikTok, Blake Chandlee, Goldman Sachs, You've, I've, copywriters, Emily, Jamie Gutfreund, influencers Organizations: YouTube, Trust, influencers Locations: influencers, Paris

☆ We were child-free and lonely, so we started a walking group for other women — and 80 people showed up
▼ + stars: | 2024-07-03 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

But, like many child-free women, they'd prefer if the conversation at gatherings wasn't always focused on babies and weddings. "How do you meet people your age if you don't have kids and you don't meet people through that group?" At the first Women Who Walk event in September 2023, 80 women showed up. In the US in 2022, there were 21.9 million women aged between 20 and 39 who did not have children, which is 4.7 million more women than anticipated, according to the Carsey School of Public Policy. For this reason, Curthoys and Collins never expected the women who joined up to be so vulnerable immediately.

Persons: —, Lisa Collins, Sophie Curthoys, Collins, everyone's, That's, Curthoys, it's, Gen Zers Organizations: Service, Business, US National Center for Health Statistics, Carsey School of Public, BI, WSJ Locations: St Albans, Guildford, Brighton

☆ America has a serious ugly home problem
▼ + stars: | 2024-07-02 | by ( James Rodriguez | ) www.businessinsider.com time to read: +14 min

Recently she posted a video on her YouTube channel in which she phrased the question more bluntly: "Why are homes so 'ugly' now?" Most people agree that America needs more houses, but nobody seems all that thrilled with the ones being built. Related storiesThe blame for America's architectural nightmare, however, doesn't stop at production builders, rising costs, or local codes. Homes look this way because they're not just places where we live — they're also supposed to help us get rich. As they stare down these rising costs, builders and architects have almost no choice but to streamline or opt for cheaper design elements.

Persons: Bailey McInnes, McInnes, they're, James Wentling, John Burns, Peter Dennehy, They're, Dan Reynolds, Horton, Lennar, Kate Wagner, she's, —, Wagner, Marcia Straub, William Morgan, it's, Queen Anne Organizations: HGTV, YouTube, Facebook, Builders, Bureau of Labor Statistics, National Association of Home Builders, John Burns Research, Consulting, Harvard's, for Housing Studies, Harvard, The Locations: Northern Virginia, America, homebuilding, Providence , Rhode Island

On the final night of Copa America Group C play, the U.S. men’s national team had to match or better Panama’s result against Bolivia. The challenge was that the U.S. would have to do it against unbeaten group leaders Uruguay. AdvertisementPanama beat Bolivia 3-1 and the U.S. lost 1-0 to Uruguay, ending their Copa America after one win and two losses in a disappointing group stage. Then, when giving Chris Richards a yellow card in the 32nd minute, Uruguay looked to play a quick free kick. Greg O’KeeffeWhat was the deal with the camera angle?

Persons: Gregg Berhalter’s, Paul Tenorio, Greg O’Keeffe, Jeff Rueter, Gregg Berhalter, Tim Weah’s, John Dorton, Kevin Ortega, Ortega, Tyler Adams, Chris Richards, Richards, —, Tim Ream, Christian Pulisic, Shaun Clark, Mathias Olivera, Darwin Nuñez, Matt Turner, Olivera, Paul Tenorio Joy, Pulisic, Bruno Miranda’s, Michael Reaves, tim, lev Organizations: Copa America Group, men’s, Uruguay, U.S, Copa America, Copa, Getty, USSF, Soccer, Peruvian, Ecuador, Iran, Napoli, Panama, Fox, CONMEBOL, Inter Miami, Sporting Kansas City, pla, eac Locations: U.S, Bolivia, The U.S, Uruguay, Panama, United States, Mexico, Canada, Qatar, Orlando, Kansas City, Bruno Miranda’s Bolivia, uHolden sh

☆ Work is getting really weird
▼ + stars: | 2024-07-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyBizarro workplaceLorenzo Matteucci for BILet's be honest: Work has gotten really weird. Workers hiring shadow stand-ins can be unqualified for their jobs, overwhelmed, greedy, or just lazy. Shadow stand-ins are typically paid a fraction of the salary earned by the actual employee. One employee also described to Rob struggling to deal with a shadow stand-in's sub-par work and eventually "firing" them. Getty Images; Alyssa Powell/BIMeanwhile, the people who are doing all the work themselves are having a tough time getting any recognition.

Persons: —, Lorenzo Matteucci, Rob Price, Rob, Alyssa Powell, BI's Aki Ito, Roaring Kitty, Bain, Chris Miller, Greg Peters, Ted Sarandos, Peters, Chelsea Jia Feng, Coach's, David Rosenberg, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Annie Smith, Amanda Yen Organizations: Service, Business, BI, Super, Facebook, Workers, Corporations, Getty, GameStop, McKinsey, Taiwan Semiconductor Manufacturing Company, Netflix, Walgreens, CVS, Rite, Wimbledon Locations: Chicago, India, Pakistan, China, Taiwan, New York, London

☆ Job Promotions Are Down As Companies Cut Costs, Avoid Giving Raises
▼ + stars: | 2024-07-01 | by ( Aki Ito | ) www.businessinsider.com time to read: +6 min

In 2023, according to data compiled by Workday, companies across every industry promoted fewer employees than they did the previous year. The cutbacks were especially stark in tech, where promotion rates plunged by 25%. Yes, high interest rates and slower economic growth means that companies are being forced to tighten their belts. Related storiesEven when the job market begins to heat up again, we may not see promotion rates recover to 2022 levels for some time — or ever. Companies need to remember that even though employees can't afford to quit their jobs in the current hiring slump, they can still quiet quit.

Persons: Jessica, She'd, Mercer, Kelli Dragovich, —, everyone's, Gen Zers, Xers, We'll, they'll, Michael Citron, they're, She's, I've, Aki Ito Organizations: Tech, Mercer, Business Locations: America

☆ How to save money on summer vacations, according to a travel expert who has been to 90 countries
▼ + stars: | 2024-07-01 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

Don't worry about where other people are going. Instead of trying to make a faraway destination work on a budget just to keep up with influencers and travel trends, plan your trip based on what you can reasonably afford, even if the destination isn't far from home. "You don't have to go to big theme parks or shell out hundreds of dollars on hotels," she said. "When I grew up, we piled up in a station wagon, went on long trips, and packed a cooler with bologna sandwiches. Our dog Gidget came with us, and we stayed in little motor lodges along the way.

Persons: Kamon Supasawat, Brown Locations: bologna

☆ The Cost of a Psychic Is a Window Into Americans' Spending Habits
▼ + stars: | 2024-06-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

For $25, which wound up being $30 because she didn't have change, Jessica told me my fortune. That psychic is also a pet psychic, which is not Katy's jam. Once, after an accident on her block in Chicago, Katy used a psychic to ensure the person had crossed over. Another time, she bought a bunch of bath oils in New York after a psychic told her she was cursed. In a consumerist society, of course some people are willing to pay to commune with the afterlife.

Persons: I'm, Jessica, IBISWorld, upselling, It's, that's, spellwork, Lisa Stardust, who's, Neil Dagnall, Ken Drinkwater, Dagnall, Drinkwater, —, Jane Risen, Risen, it's, what's, they're, Cleo, Peter Popoff, they'd, Ralph Lewis, There's, we're, Lewis, I've, Katy who's, Katy, Taylor Swift, Emily Stewart Organizations: Pew Research Center, what's, Manchester Metropolitan University, University of Chicago's Booth School of Business, Federal Trade Commission, intel, University of Toronto, Business Locations: Manhattan, New York, Chicago

☆ Rich collectors want to give art to their kids, but they don't want it. Here's what they can do instead, and they can save millions on taxes, too.
▼ + stars: | 2024-06-30 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

Read previewNearly 80% of wealthy art collectors want their masterpieces to stay in the family, according to a Bank of America survey. For instance, the survey found that collectors between 21 and 43 have a greater appreciation for sculptures and antiquities than older art aficionados. Rich art collectors are reluctant to address the issue, according to Rosemary Ringwald, head of art planning at Bank of America's private bank. Collectors are increasingly picking art executors or art trustees to oversee their possessions after they die, she said. The ideal executor does not have a financial interest in the art and isn't a prospective owner of it.

Persons: —, Rich, Rosemary Ringwald, Ringwald Organizations: Service, Bank of America, Business, Bank of, IRS, Bank Locations: Aspen

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