The Fed finally cut interest rates. Here’s what comes next.
Go big or go home. The Federal Reserve didn’t hold back when it cut interest rates for the first time in more than four years. The central bank announced a jumbo cut of 50 basis points, ending its ongoing battle against post-pandemic inflation and giving investors exactly what they wanted. While the cut was never…
The death of stretch limosThey used to be the ultimate status symbol. Now they’re going for cheap on Craigslist.
It used to be that you saw a stretch limousine and excitedly wondered who was inside — maybe a corporate executive or a celebrity or some other classy, mysterious type. Now, you see a limo, and you know it’s not anyone fancy. Come to think of it … when was the last time you saw…
Meet Africa’s richest man, a billionaire who doesn’t own a home outside Nigeria
Aliko Dangote is the richest person in Africa. Aliko Dangote, 67, first appeared on Forbes’ billionaires list in 2008, and he has been ranked Africa’s richest person every year since. Dangote earned his billionaire status as the founder of the Dangote Group, Africa’s largest cement producer with branches in 10 African countries. Despite his immense…
LVMH’s Bernard Arnault has gone from the world’s richest person to flirting with 5th place after a $54 billion wipeout
LVMH’s Bernard Arnault has gone from the world’s richest person to flirting with 5th place after a $54 billion wipeout Bernard Arnault was the richest person on the planet six months ago; now he’s flirting with fifth place. Arnault is the founder and CEO of LVMH Moët Hennessy Louis Vuitton, the French luxury goods behemoth.…
Warren Buffett’s death plan dodges taxes and will make his kids ‘philanthropic titans,’ says wealth inequality guru
Warren Buffett plans to park his fortune in a charitable trust when he dies. Warren Buffett lives a simple life, steers clear of politics, and has gifted more than half of his vast fortune to good causes, promising that virtually all the rest will follow. Yet even the 94-year-old investor who runs Berkshire Hathaway is…
One of Sam’s Club’s corporate teams is merging with Walmart’s. Read the memo announcing the ‘big step.’
Revenue for the Sam’s Club division has grown by nearly 50% over the past five years on a flat store count. Sam’s Club’s corporate supply chain team is merging into the supply chain team of its parent company, Walmart, according to a memo obtained by Business Insider. In an email to staff, Walmart’s head of…
Like digital locusts, OpenAI and Anthropic AI bots cause havoc and raise costs for websites
Edd Coates knew something was wrong. His online database was under attack. Coates is a game designer and the creator of the Game UI Database. It’s a labor of love for which he spent five years cataloging more than 56,000 screenshots of video game user interfaces. If you want to know what the health bar…
Yonder, a London fintech startup offering rewards for credit card spending, has raised $30.1 million using this 11-slide pitch deck
Yonder cofounders Harry Jell, Theso Jivajirajah, and Tim Chong. Yonder, a London-based fintech startup, has raised $30.1 million in new funding. Founded in 2020 by former staffers at credit scoring startup Clearscore, Yonder offers users a credit card with rewards such as meals at high-end restaurants, tickets to events, and points toward flights. The startup…
A new housing plan wants to give middle-class Americans the kind of support typically reserved for low-income households
Politicians still agree: The rent is too damn high. Rep. Alexandria Ocasio-Cortez, a New York Democrat, and Sen. Tina Smith, a Minnesota Democrat, on Wednesday introduced legislation in the House and Senate that would — if enacted — massively expand the nation’s affordable housing stock. The HOMES Act would establish a new federal housing development…
