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Business Insider
08-07-2025
- Business
- Business Insider
Why some investors are calm about Trump's tariffs
Good morning. Some may balk at the prospect of moving in with their mother-in-law to save money. But that's what a content creator and her family did after her partner lost his job. She told BI that multigenerational living is the way life is meant to be. Plus, today is Amazon's Prime Day. Whatever your living arrangements may be, it's a good time to clear out the online shopping cart. Our deals editors on the Reviews team are curating the best Prime Day deals that are actually worth your time. Take a look. In today's big story, stocks tumbled following Trump's latest tariff announcement. Some investors have a reason to remain calm. Also, BI's new Defense Flash launches today. Get the latest updates in modern warfare, defense tech, and more delivered to your inbox each week. Sign up here! What's on deck Markets: These "pain trades" could creep up on investors in the second half of the year, HSBC said. Business: In the age of Ozempic, shrinkflation has hit the fashion industry. But first, investors are hungry for one thing: the TACO trade. The big story TACO TuesdayIt was another turn of the screw for US stocks. On Monday, US President Donald Trump renewed his threat to hit major trading partners with steep "reciprocal" tariffs unless they can broker a deal before August. Stocks tumbled in response, with the S&P 500 dropping almost 1%. The latest round of tariffs traces back to Trump's original package unveiled in April, which he delayed for 90 days to make room for negotiations. He extended that grace period, initially set to expire this week, until August 1. How strict is that new timeline? Trump: "I would say firm, but not 100% firm. If they call up and they say we'd like to do something a different way, we're going to be open to that." So, what's changed? On Monday, Trump posted letters on social media to Japan, South Korea, and 12 other nations informing them that they will face tariffs of at least 25% starting in August. More countries are expected to receive letters of their own in the coming days. The rates they are facing are largely in line with what was initially announced, making the latest move look like a play for time to secure more favorable trade deals. As BI's Brent Griffiths writes, Trump was nowhere near the pace of the 90 deals in 90 days goal, so he added more time to the clock. There's a glimmer of hope for the markets: TACO Tuesday. The TACO acronym — short for Trump Always Chickens Out — caught on with investors because of how frequently Trump has pivoted from policies that roiled markets. When Trump has backed down, investors have piled into stocks. That's what helped push the S&P 500 back to all-time highs after a near-20% drop from February to April. Now, investors are waiting to see if Trump walks back his latest threats, BI's William Edwards writes. 3 things in markets 1. A little-known crypto miner surged 3000% in a week. Shares of BitMine Immersion Technologies rocketed after the firm raised $250 million to add Ethereum to its balance sheet. It is following the playbook Michael Saylor used to build a bitcoin treasury reserve. 2. Beware of these "pain trades," HSBC says. The bank sees a risk that markets may not react to headwinds, like tariffs, in the way that most Wall Street investors are expecting. In a note to clients, HSBC found three major "pain trades" it sees potentially affecting investors. 3. Tesla investors' message to Musk: Stay out of politics. Tesla's stock price plunged on Monday after Elon Musk said he'd create a new political party, and investors were not happy about it. Analysts said in a note that they expected investors to " only see downside from his dip back into politics." 3 things in tech 1. Amazon's Rufus just turned one year old. When Amazon introduced AI shopping assistant Rufus one year ago, BI's Katie Notopoulos didn't find it that helpful. Ahead of Amazon Prime Day, Notopoulos gave it another try. Here's what she thought. 2. One of Google's brightest stars is a 27-year-old AI hypeman. Logan Kilpatrick helped launch ChatGPT at OpenAI and now runs Google's AI Studio, often promoting its tools on X. He told BI why he's available around the clock to help developers use Gemini, Google's AI chatbot. 3. It's a good time to buy an EV. The clock is ticking on the $7,500 electric-vehicle tax credit, thanks to Trump's "Big Beautiful Bill." The credit is set to expire on September 30, which makes this summer prime time to buy an EV if you can afford it, auto industry analysts told BI. 3 things in business 1. The disappearance of plus-size clothes. Thin is back thanks to the rise of Ozempic, but fashion brands that forayed into the plus-size market were already backing off. Weight-loss drugs have become a convenient excuse for the fashion industry to cut back on sizing options, BI's Emily Stewart writes. 2. Elon Musk isn't the first businessman who's tried to start a third political party. Though if history is any indication, Musk will be shooting for the moon. Billionaires Howard Schultz and Ross Perot have also tried to challenge America's two-party system, but no dice. 3. US TikTok creators may soon need a US-only version of CapCut. TikTok's parent company, ByteDance, plans to shift American users to a US-specific version of its video-editing app CapCut, per documentation seen by BI. It could be part of a broader plan to comply with a 2024 divest-or-ban law. In other news Trump trade advisor bashes Tim Cook for Silicon Valley's ' longest-running soap opera.' Eight things you should never talk about at work, according to etiquette experts. China wants to challenge Airbus and Boeing and shake up global aviation. Here's what you need to know about its upstart planemaker, Comac. Figma investors say going public is a better outcome than its abandoned Adobe deal. From interns to insiders: How two Balyasny summer recruits landed full-time roles at the $25 billion hedge fund. Patriot air defenses have become top weapons — and top targets. Inside the political reckoning shaking up the ad industry. A big change to student loans in Trump's spending bill could make it harder to become a doctor or lawyer. What's happening today Allen & Company Sun Valley Conference — also known as "summer camp for billionaires" — begins in Idaho. Guests reportedly include Mark Zuckerberg, Jeff Bezos, and Sam Altman, among others. Boeing announces Q2 deliveries. It's Amazon Prime Day. Hallam Bullock, senior editor, in London. Akin Oyedele, deputy editor, in New York. Grace Lett, editor, in New York. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Ella Hopkins, associate editor, in London. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave).
Business Insider
06-07-2025
- Business
- Business Insider
Breaking down the true cost of AI data centers' rapid growth across America
Welcome back to our Sunday edition, where we round up some of our top stories and take you inside our newsroom. BI's Jake Epstein spent the night aboard a US Navy destroyer traveling from England to France. He said the space was tight, as he got a taste of what daily life is like. By the way, you can get the latest on modern warfare, defense tech innovations, and more with BI's new Defense Flash delivered to your inbox every week. Sign up here! On the agenda today: Inside Silicon Valley's $100 million salary divide. It's the age of the "Zillow Ban." Here's what homeowners should do. Amazon rolls out a stricter performance review process, BI exclusively reports. Wall Streeters told BI the hottest restaurants, bars, and clubs in the Hamptons. But first: BI has the receipts on the impact of AI data. If this was forwarded to you, sign up here. Download Business Insider's app here. This week's dispatch John-David Richardson for BI Tallying the full costs of AI To fulfill the promise of AI, data centers have sprung up around the country, using water, land, and electricity to deliver computing power for the booming tech. A team of BI reporters and editors sought to quantify the spread of these centers and show the impact on their surroundings. I chatted with two lead reporters on the project, Hannah Beckler and Dakin Campbell, about their takeaways. Hannah, Dakin, in a nutshell, how many data centers are there in the United States, and how fast is the boom happening? There are 1,240 data centers either built or approved for construction in the United States. That's four times as many as there were in 2010. What is the biggest worry with the spread of data centers — the green space they use, the water, the electricity? And if these concerns are urgent, why aren't towns pushing back? Electricity and water use are large concerns because they are limited resources. But data centers often bring tax revenue, which towns use to build roads, schools, and fire stations. Public officials have been caught in the middle, with some towns pushing back and others openly welcoming the industry with tax breaks. AI could usher in tremendous benefits, from business savings to life-saving science. Many also argue that a leading AI industry bolsters national security. For nearby property owners, the benefits are typically the tax revenue their towns collect, short-term jobs in construction (which can also bring road congestion), and perhaps a few dozen longer-term tech jobs in their community. For the future, what are the most important issues about data centers that people should be watching? The largest tech firms understand that public opinion is mixed about their use of resources like power and water, and they are taking steps to improve their efficiency. It will be critical to see whether they will find ways to use less water and more renewable energy. Big Tech's winner-take-all era In Silicon Valley, companies like Meta and OpenAI are offering eye-popping pay packages to technical hires to secure the best talent in the AI race. At the same time, however, rank-and-file tech workers are being laid off by the thousands. The result is an uneven shift that's going all-in on AI while squeezing other areas of innovation. The great salary divide. The "Zillow Ban" is here Zillow's new policy blacklists any homes that are shared publicly by an agent without being posted to the local databases that inform the rest of the real estate industry. It's part of Zillow's ongoing battle against big brokerages to crack down on "exclusive inventory" — home listings that are shared in some places but not others. The fight leaves homebuyers and sellers in a weird spot, but not a powerless one. The rules of the game are changing, and consumers should know exactly what they're getting from their agents and how much they'll be paying them, writes BI's James Rodriguez. What homebuyers should do. Amazon toughens up reviews How do you measure culture? That's a question Amazon managers will now have to deal with, thanks to a new performance review process the Big Tech company is instituting. Starting this mid-year review cycle, Amazon managers will use a three-tier system to rank how employees demonstrate the company's core values, which it calls Leadership Principles, in their work, per an internal memo seen by BI's Eugene Kim. It's the first time company culture is formally part of reviews. Hot spots in the Hamptons The Hamptons have long been a favorite summer outpost for Wall Street's bankers and traders. BI spoke to current and former finance industry professionals, as well as some Hamptons locals and business proprietors, to find the buzziest spots out east. Montauk's Surf Lodge was the most mentioned, but insiders also named scene-y restaurants like Le Bilboquet and low-key sites like Shinnecock, an ultra-exclusive golf club. See the list. This week's quote: "You are in a job interview for the whole internship." — Wendy Lewis, managing partner of KPMG's Richmond, Virginia office, on her advice for Big Four summer interns looking to stand out. More of this week's top reads: Everyone is saying AI will reshape banking. A new report forecasts exactly how much. 4 signs the economy is in worse shape than we thought. What Diddy's guilty verdict and civil suits mean for his net worth, music catalog, and brands. Generative AI is making running an online business a nightmare. Most Americans aren't paying attention to a key part of retirement that has nothing to do with investing. Leaked docs show how Meta is training its chatbots to message you first, remember your chats, and keep you talking. 4 ways Trump's 'big beautiful' tax bill could affect your wallet.
Business Insider
05-07-2025
- Entertainment
- Business Insider
Dive into these six summer reads, recommended by BI's editors
Happy Fourth! Your cookout's soundtrack may sound a little bland this season since there's no song of the summer. Waaaah! Here's why there's no new bops. While you're here, subscribe to Defense Flash, BI's new guide to the latest innovations in military strategy, defense tech, and more delivered right to your inbox every week. If this was forwarded to you, sign up here here. This week's dispatch Poolside page turners After the cookout, and the party, and the drinking, and the water play, you'll be yearning for some quiet time. And if you're like me, that means curling up with a good book. There are plenty of old and new summer reads to make you forget about going back to work next week. I asked six of our editors at Business Insider what their favorite reads are. Here's what they said: Jamie Heller, Editor in Chief: I just finished " The Bee Sting" by Paul Murray, and I mostly couldn't put it down! In this family saga set in Ireland, Murray develops consuming characters and keeps you in suspense, all with a writing style that's distinct but also easy to follow and enjoy. I highly recommend it! Bartie Scott, Deputy Editor, Economy:" Tom Lake" by Ann Patchett makes a great summer read with its whirlwind romance and heartwarming mother-daughter dynamics. While the material is sweet and whimsical, Patchett's writing is high quality, and if audiobooks are more your style — or if you're picky about narrators — it's worth knowing that Meryl Streep reads this one. Bryan Erickson, Executive Creative Director: I am rereading " Capote's Women" by Laurence Leamer because much like the series, "Feud: Capote vs. The Swans," once was not enough. I identify with Truman's scarf-wearing escapism, and am slightly obsessed with the NYC that came before me. Paige DiFiore-Wohr, Deputy Editor, Freelance: If you're looking for a suspenseful, twist-filled story about friendship, betrayal, and redemption, " The Drowning Woman" by Robyn Harding is the book for you. The story follows a once-successful restaurant owner who's now living out of her car as she encounters a rich socialite who's about to change her life. Nothing is as it seems, and no one can be trusted. I finished this thriller in less than a day. Tracy Connor, Standards Editor: I devoured " Pineapple Street" by Jenny Jackson by the side of a pool last summer, relishing every twist in the tale of a rich New York City family grappling with relationship, parenting, and personal problems. It's a modern and sharper version of the delicious epics I used to sneak from my parents' bedstand in the 1970s. Joe Ciolli, Executive Editor, Markets and Investing:" Our Band Could Be Your Life" by Michael Azerrad is a compelling look at how independent musicians forged their careers in the pre-internet era. Thirteen chapters dive into 13 bands who developed crucial networks for the music and touring industries we know today. I don't even like most of the bands, but it's still the best music book I've ever read. BI may earn a commission if you purchase through our links.
Business Insider
04-07-2025
- Business
- Business Insider
Fourth of July celebrations may be more muted than you're expecting
Good morning. Happy 249th birthday, America — not that we're counting! — with warm regards from London. As the BI Today team is off for the holiday, I'm bringing you an abbreviated version of the newsletter. In today's big story, why Fourth of July celebrations may be more muted than you're expecting — and why the situation next year could be even worse. Also, don't forget to subscribe to BI's Defense Flash, your new weekly guide to the latest in warfare innovation, defense tech, and more. Subscribe! If this was forwarded to you, sign up here. The big story The surprise guests at your barbecue: tariffs JIM WATSON/Getty, Getty Images; Tyler Le/BI Could you imagine the Fourth of July without fireworks? Well, we aren't quite there yet, but you may be seeing fewer in the sky this evening. That's because many Americans have discovered their sparklers now come with a surcharge. From fireworks to backyard barbecues, President Donald Trump's tariffs are threatening to rain on America's birthday parade. The trade war with China has driven up the price of many of America's favorite pyrotechnics. Meanwhile, higher tariffs, coupled with stubbornly high inflation and a historic low in the American cattle supply, have jacked up the price of everything from beef to ice cream. Although I've never personally celebrated a Fourth of July (my lot was on the other side), those all strike me as crucial components for a quintessentially American celebration. Northwestern University's Medill Spiegel Research Center, which tracks consumer behavior, predicts a 5% drop in Independence Day celebrations this year, largely thanks to those higher prices. BI spoke with Americans who feel like they're being forced to scale back on parties this year — with one discovering that the tariffs will push them $2,000 over-budget. Perhaps even more alarming is the impact the tariffs could have on next year's celebrations. It'll mark the 250th birthday of the US — meaning Americans will likely do it big. Demand for fireworks is expected to surge for the momentous anniversary, but due to long lead times (shipments from China are usually ordered a full year in advance) and uncertainty around where the China tariffs will end up, industry watchers say there's a real risk of significant product shortages and higher prices. In other news Congress has passed Trump's 'Big Beautiful Bill.' Here are 4 ways it could impact your wallet. Trump's tax plan won't help Tesla, but 2 other EV companies got a stock boost. Diddy could get a 20-year prison sentence but the reality probably won't be anything close to that. The NCAA settlement is a big win for football players. For other athletes, the picture is murkier. This company is requiring employees take PTO this summer — and is offering some a $1,000 vacation stipend. 'I don't trust it, I don't like it': Lawmakers sound off on why they don't use AI. Robinhood is known for its meme-stock and crypto traders. Its CEO says users are embracing passive investing too. The CEO of a key SpaceX rival says customers are drawn to his company because it's 'even-keeled'. 'Love Island USA' star Elan's brother is running his Instagram. He told us he's ' not doing this for the clout.' What's happening today Samsung Electronics issues Q2 pre-earnings guidance. Nathan's Famous Fourth of July Hot Dog Eating Contest. Hallam Bullock, senior editor, in London. Grace Lett, editor, in New York. Akin Oyedele, deputy editor, in New York. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave).
Yahoo
01-07-2025
- Business
- Yahoo
Businesses are scrambling to keep themselves safe against AI's evolving threats
This post originally appeared in the Business Insider Today newsletter. You can sign up for Business Insider's daily newsletter here. Good morning. Elon Musk and Donald Trump aren't done fighting over the president's "Big Beautiful Bill" — and Musk came out swinging last night. Writing on X, Musk said if the "insane spending bill" passes, he'll form a new political party (can you guess what it would be called?). In response, Trump suggested that DOGE look into slashing government contracts with Musk's companies. "Without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump wrote on Truth Social. Here's the latest. In today's big story, watch out for fake job candidates, fake recruiters, and fake sales. America's small business owners are being swamped by scammers. Before I continue, sign up for Defense Flash, BI's weekly digest on the latest innovations and strategies in modern warfare, the defense tech industry, and more — launching soon. Sign up here. What's on deck Markets: Why Morgan Stanley is predicting potential stock market highs in the second half of the year. Tech: Mira Murati's secretive AI startup is offering $450,000+ salaries to lock in top talent. Business: Apple's "F1" movie got the no. 1 spot at the box office — but that might be a one-off. But first, something seems suspicious …If you fall for it, the consequences can be devastating. Last year, a finance clerk at the engineering firm Arup joined a video call with people he believed were his colleagues. It turned out that each of the attendees was a deepfake recreation of a real coworker — including the company's finance chief. Convinced by the ruse, the clerk approved over $25 million in overseas transfers. Scams like this are becoming more common. Since ChatGPT burst onto the scene, online businesses have had to navigate a rapidly expanding deepfake economy. In the past year alone, GenAI-enabled scams have quadrupled, according to the platform Chainabuse. BI spoke with professionals in several industries — including recruitment, graphic design, publishing, and healthcare — who are scrambling to keep themselves and their customers safe against AI's ever-evolving threats. Many feel like they're playing an endless game of whack-a-mole, Shubham Agarwal writes for BI. Now, the moles are multiplying and getting smarter. You would never be fooled, right? Don't be so sure. The VP of strategy at a cybersecurity firm said GenAI tools now allow a novice with cheap programs and little technical know-how to clone a brand's image and write flawless scam messages within minutes. Agarwal put this to the test using a tool called Llama Press. Sure enough, they created a near-perfect clone of an online store — and personalized it with just a few lines of instruction. BI's Amanda Hoover was also able to deepfake her own bank with relative ease. All it took was an AI voice generator and a phone call. While platforms like Teams and Zoom are getting better at detecting deepfakes, they can also create a problem. The data these platforms collect on what's fake could ultimately be used to train more sophisticated GenAI models, the CEO of a cybersecurity firm told BI. 1. AI is speeding up the slow investment game. Fundamental investors are known for taking a slow and methodical approach to their investing, but AI is about to change all of that. Three firms using the tech share how it's transforming their investment processes. 2. A market vet forecasts the S&P 500 breaking 10,000 by the end of the decade. Ed Yardeni, a longtime forecaster and the president of Yardeni Research, said stocks are now in "melt-up" mode and the S&P 500 could soar 60% by 2030. 3. The stock market's secret weapon. Earnings revisions breadth, or the number of analysts who are raising their estimates minus those lowering them, has improved significantly in recent months. Morgan Stanley sees that as powering further market gains. 1. Tech's most powerful relationship is on the rocks. Microsoft is OpenAI's biggest investor, but tensions over the terms of their partnership are boiling over. Money and equity are huge sticking points, and they're also beefing over AGI and OpenAI's acquisition of a Copilot competitor. 2. Mira Murati's startup is paying top dollar to win the AI arms race. Murati's Thinking Machines Lab is paying two members of its technical team $450,000 in salary, and another is getting $500,000, according to federal data obtained by BI. That's a lot more than the average salaries offered to technical talent by OpenAI and Anthropic, Murati's top competitors. 3. Here's what that $14 billion hire is doing at Meta. Alexandr Wang, the 28-year-old Scale AI founder Mark Zuckerberg hired last month, will be coleading Meta's new superintelligence lab with former GitHub CEO Nat Friedman. Read the memo announcing their roles. 1. Lululemon is suing Costco. The athleisure brand is accusing Costco of creating "confusingly similar" dupes of its yoga jackets and chinos. Lululemon is asking for damages in the form of lost profits and compensation for patent infringement, but it's not the first time the brand has accused a company of copyright infringement. 2. Apple's "F1" has a special sauce of epic proportions. The racing movie got a huge boost from Imax, which said on Monday it made up 19% of the film's global box office sales. Imax tickets cost more, helping Apple beat box office expectations — but that boost might not apply for other films down the line. 3. What GOP senators changed in Trump's "Big Beautiful Bill." Senate Republicans altered a controversial provision, discouraging states from regulating AI for five years instead of the originally written 10. The bill is making its way through the legislature, much to Elon Musk's dismay: on X, he vowed to defeat Republicans who back it "if it is the last thing I do." Private equity giant TPG halts early recruiting. A team of engineers saved Morgan Stanley more than 280,000 hours this year. The bank says their tool won't take jobs. Emily Sundberg got laid off at Meta. Now her Feed Me is a thriving one-person media business. GOP senators water down controversial AI provision in Trump's 'Big Beautiful Bill.' See Trump's handwritten note to Jerome Powell complaining about interest rates. Crypto could soon help more people get a mortgage — but market experts see two risks. Kevin O'Leary's advice for 21-year-old entrepreneurs who don't know where to start. Self-made billionaire John Calamos says young people need to hustle — and have a mission in life — to be successful. Settlement between NCAA and college athletes goes into effect, allowing colleges to compensate athletes directly for using their name, image, and likeness (NIL). Jerome Powell speaks at ECB Forum on Central Banking in Sintra, Portugal. New York mayoral Democratic primary election results expected. Hallam Bullock, senior editor, in London. Meghan Morris, bureau chief, in Singapore. Grace Lett, editor, in Chicago. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Akin Oyedele, deputy editor, in New York. Ella Hopkins, associate editor, in London. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave). Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
