Business News, Updates

Business News, Updates

Tokyo Olympics organizers says there is no 'Plan B' for 2020 summer games amid coronavirus fears

Posted: 15 Feb 2020 10:04 AM PST

japan china outbreakJae C. Hong/AP Photo

Tokyo Olympic organizers and the International Olympic Committee (IOC) said there is no 'Plan B' for the upcoming summer games despite growing fears that the coronavirus could impact the event, which are set to begin in July, the Associated Press reported.

Speaking at a press conference Friday, the organizers took 11 questions, all of which were related to the virus, athletes and fans coming in from China, and the continuation of the planned events. 

See the rest of the story at Business Insider

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NOT A FAIRYTALE: How Americans can survive and thrive after a divorce

Posted: 15 Feb 2020 10:00 AM PST

marriage story netflixNetflix

  • Fewer Americans say marriage is important to a fulfilling life, according to a Pew Research study.
  • Marriage is very complex, and it's easy for couples to fall into unhealthy relationship dynamics.
  • Yet, that's not stopping more than 2 million people each year who find themselves at the altar, the CDC reports
  • We've rounded up the stories that will help you survive a divorce and recognize the warning signs of a bad relationship. 
  • Visit Business Insider's homepage for more stories.

American marriage is looking less essential for a fulfilling life. 

Pew Research Survey found that 54% of surveyed Americans say that being married is "important but not essential" for people to live fulfilling lives. 

See the rest of the story at Business Insider

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Justin Bieber started crying when talking about wanting to 'protect' Billie Eilish from what he went through at a young age in the music industry

Posted: 15 Feb 2020 09:39 AM PST

justin bieber billie eilishScreenshot Twitter/billie eilish source media, Gary Miller/Getty Images

  • Justin Bieber got emotional and even had to wipe away tears while talking about wanting to protect Billie Eilish during his Beats 1 interview with Zane Lowe.
  • Bieber, booked to talk about his new album "Changes," first teared up thinking about the death of Kobe Bryant and never knowing how many opportunities you get to be with someone. 
  • "I don't want her to go through anything I went through," he said, talking about his experiences in the music industry at a young age. "If she ever needs me, I'm just a call away."
  • Visit Insider's homepage for more stories.

Justin Bieber got emotional quickly when talking about feeling protective of Billie Eilish. 

During his Beats 1 interview for Apple Music, Bieber promoted his new album "Changes." But when interviewer Zane Lowe asked him about his relationship with Eilish, who has been an outspoken Bieber fan since childhood, the 25-year-od started to cry.

See the rest of the story at Business Insider

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An insider's guide to Reddit's advice communities — where strangers solicit and give tips on everything from STDs to what to have for dinner

Posted: 15 Feb 2020 09:38 AM PST

beginner's guide ask subreddits 2x1Samantha Lee/Insider

  • Users of Reddit frequently ask questions or seek advice on the platform. Whole subreddits exist devoted to the practice.
  • Some posts have gained viral attention, and users often attest that Reddit advice helped them in their situation.
  • Because Reddit always anonymity, users often post more freely than on other platforms like Facebook, but this comes at the price of trustworthiness of information around sensitive topics such as medical or legal advice. 
  • This story is part of the series: A beginner's guide to the internet. 

Have a problem that you want to pose to an anonymous internet audience? A specific question that no one in your life can help with? Or do you just want to read other people's drama? Then Reddit's ask and advice communities may be the place for you.

There are over 1.8 million subreddits, many of which allow users to ask questions and offer advice. As per the rest of Reddit, comments and posts are sorted through an upvote and downvote points system. The ask and advice communities have often gained notoriety and made headlines for their seemingly melodramatic content, but they can also be a place where real users get help for a whole host of different issues. Whether it's getting dating tips or identifying a mysterious object, Reddit is here to help. 

See the rest of the story at Business Insider

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Former employee says he heard Bloomberg ask a female co-worker if she was going to 'kill it' after announcing her pregnancy

Posted: 15 Feb 2020 09:31 AM PST

Democratic presidential candidate and former New York City Mayor Michael Bloomberg speaks at a campaign event Wednesday, Feb. 5, 2020, in Providence, R.I. (AP Photo/David Goldman)Associated Press

  • A former employee of  Michael Bloomberg corroborated an accusation that the business mogul told a woman to "kill it" after she announced her pregnancy, according to The Washington Post. 
  • Bloomberg, now a Democratic presidential candidate, has faced repeated faced accusations of directing sexist and crude comments to women at his company, Bloomberg LP, and previously denied that he told this to a female employee. 
  • "He talked kind of crudely about women all the time," the former employee told The Washington Post.
  • Visit Business Insider's homepage for more stories.

Billionaire presidential candidate Michael Bloomberg once remarked that a pregnant employee at his company should "kill it" upon learning that she was pregnant, a former Bloomberg employee told The Washington Post.

While the particular allegation has previously been reported as it was the subject of a highly publicized lawsuit against Bloomberg in 1997, a former Bloomberg employee who wasn't involved in that lawsuit said he heard Bloomberg make the comments.

See the rest of the story at Business Insider

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30 Big Tech Predictions for 2020

Posted: 15 Feb 2020 09:30 AM PST

Digital transformation has just begun. 30BigTechPredictionsfor2020

Not a single industry is safe from the unstoppable wave of digitization that is sweeping through finance, retail, healthcare, and more.

In 2020, we expect to see even more transformative developments that will change our businesses, careers, and lives.

See the rest of the story at Business Insider

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Colleges are creating intergenerational living programs because they benefit both seniors and students

Posted: 15 Feb 2020 09:26 AM PST

Intergenerational LivingWinona Health

When Gabrielle Clutter was a senior at Drake University in Des Moines, Iowa, she would return home from classes, knock on her neighbor's door, sit on the couch, and talk about her day. She and her neighbor would swap stories about friends, her opera program at school, and jobs they had worked. 

But her neighbor wasn't a fellow student. She was one of the dozens of senior citizens living in the elder care facility Clutter lived in for the last year and a half of her undergraduate studies, through an artist in residency program.

See the rest of the story at Business Insider

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What it's like to eat roast suckling pig at El Sobrino de Botín, the oldest restaurant in the world

Posted: 15 Feb 2020 09:02 AM PST

  • El Sobrino de Botín in Madrid, Spain has been in operation since 1725 and holds the Guinness World Record for the oldest restaurant in the world.
  • It serves traditional Castilian cuisine, like el cochinillo (suckling pig), roast leg of lamb, and jamón, among other dishes.
  • Tradition is seeped through the restaurant, from the centuries-old wine cellar now used as a dining room, to the wood-fire oven that has been continuously lit since the beginning of the operation.
  • Visit Insider's homepage for more stories.

Following is a full transcript of this video.

Narrator: Spanish cuisine is known for its excellence in preparing pork. El cochinillo, the suckling pig, is a delicacy that has been served in Castilla since Roman times. Smack in the heart of historical Madrid, right next to the Plaza Mayor, lies the restaurant el Sobrino de Botín, the oldest restaurant in the world.


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Diamond Princess cruise ship has 67 passengers who have tested positive for coronavirus onboard, Japan's Health Minister announced

Posted: 15 Feb 2020 09:00 AM PST

diamond princess clothes .JPGReuters/Kim Kyung-Hoon

  • An additional 67 passengers aboard the quarantined Diamond Princess cruise ship have contracted the coronavirus, bringing the total number of people onboard who have tested positive up to 286, CNN reported.
  • The first round of disembarkment is set to begin on February 21, two days after the original set date.
  • Around 400 American passengers as early as Sunday will be disembarked and taken back to the US via two chartered State Department flights.
  • Those who have disembarked will likely still be placed under quarantine.
  • Visit Business Insider's homepage for more stories.

A total number of 286 passengers on board the Diamond Princess cruise have been infected with the coronavirus following the Japanese Health Minister Katsunobu Kato's announcement on Saturday that an additional 67 people onboard have tested positive, CNN reported.

Over 3,600 people have been stuck aboard the quarantined ship after several people on board tested positive for the virus, thus placing the passengers on a two-week quarantine that started on February 15, according to the Wall Street Journal.

See the rest of the story at Business Insider

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We tested four hair dryers at different price points⁠—here's the best one

Posted: 15 Feb 2020 08:52 AM PST

  • We tested top-rated hair dryers from Revlon, Remington, BaByliss, Drybar, and Dyson to find the best one.
  • The hair dryers, ranging in price from $10 to $400, were tested on ease of use, how quickly they worked, and how smooth and frizz-free they left the hair.
  • The Remington D3190 Damage Protection Hair Dryer came out on top for its quick dry time and the silky smooth finish it gave.
  • Visit Insider's homepage for more stories.

Following is a transcript of the video.

Natalie Fennell: Where is it coming from? Where is it coming from?

Nico Reyes: Natalie is back with us on "How Much Should I Spend?" to help me out with yet another video, because she's going to be trying out five different blow-dryers out for me. Don't have any experience with blow-dryers, so what is up with them?

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I ate at one of America's best burger chains, and I hope it keeps expanding outside of the Midwest

Posted: 15 Feb 2020 08:49 AM PST

culversMichelle Larkin for Insider

  • I visited Culver's, a popular Midwest-based fast-food chain that is rapidly growing across the United States.
  • The restaurant had delicious made-to-order ButterBurgers, fresh-churned frozen custard, and Wisconsin cheese curds.
  • The chain prides itself in its hospitality, which I noticed as workers helped me order and even cleared away my trash. 
  • Overall, Culver's has delicious, affordable food and I think the chain should spread to more locations around the globe. 
  • Visit Insider's homepage for more stories.

Culver's started as a family-owned restaurant in Wisconsin with made-to-order cheeseburgers, frozen custard, and cheese curds, and it's since expanded to over 700 restaurants across the US. 

The Culver family opened its first restaurant in 1984 in Sauk City, Wisconsin, and, in 2017, it was even dubbed one of America's best burger chains. 

See the rest of the story at Business Insider

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A cancelled conference and supply chain issues: How the coronavirus outbreak is affecting Facebook's business (FB)

Posted: 15 Feb 2020 08:48 AM PST

facebook ceo mark zuckerbergREUTERS/Erin Scott

  • Like many companies, Facebook's business has been affected by the novel coronavirus outbreak.
  • Its supply chain for hardware has been disrupted, and it cancelled a conference it was hosting in San Francisco.
  • Employees are being asked not to travel to China, where the virus originated.
  • Visit Business Insider's homepage for more stories.

Misinformation and rumours about the novel coronavirus outbreak are spreading on Facebook, prompting the social network to talk to the World Health Organization (WHO) about how to battle the fake news — but that's not the only way the virus has affected Facebook.

Like numerous companies, Facebook's core business has been impacted by the viral illness, which has sickened more than 64,000 people and killed nearly 1,500 over the past few months — from upsetting hardware supply chains to forcing it to cancel planned industry conference appearances.

See the rest of the story at Business Insider

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Private equity's data-hiring push; The top M&A bankers, ranked; Tradeweb's next move

Posted: 15 Feb 2020 08:31 AM PST


Hello, readers!

Big mergers and acquisitions are team efforts. But at the very top, a battled-tested senior banker provides critical advice and connections that can determine a transaction's success or failure. Alex Morrell worked with financial data firm MergerLinks to publish our first-ever rainmakers list this week. You can see rankings for the top 20 M&A bankers for North American deals here

See the rest of the story at Business Insider

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Kobe Bryant joins 7 other Basketball Hall of Fame nominees this year, along with Tim Duncan and Kevin Garnett

Posted: 15 Feb 2020 08:20 AM PST

tim duncan kobe bryanrStephen Dunn/Getty

  • Kobe Bryant is one of eight finalists for the 2020 Basketball Hall of Fame this year, along with Tim Duncan and Kevin Garnett. 
  • Even before his death, Bryant was in his first year of eligibility for the recognition, which players can be eligible for starting in their fourth season of retirement. 
  • The Hall of Fame announced four committees would not put forth nominees due to the "unique circumstances" of the potential 2020 class.
  • Visit Business Insider's homepage for more stories.

Kobe Bryant is one of eight nominees for the Naismith Memorial Basketball Hall of Fame this year.

The full list of nominees includes Bryant, Tim Duncan, Kevin Garnett, Kim Mulkey, Rudy Tomjanovich, Barbara Stevens, Eddie Sutton, and Tamika Catchings. 

See the rest of the story at Business Insider

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The US will begin testing patients with flu-like symptoms for coronavirus in an expanded effort to contain the outbreak

Posted: 15 Feb 2020 08:14 AM PST

coronavirus test kitAP Photo

  • The CDC announced several new measures to aid in the mitigation of the spread of the new coronavirus.
  • Based on what authorities know about how the virus spreads between people, it is still recommending that Americans avoid contact with possibly infected people and public surfaces.
  • However, the agency was also advancing its efforts to address cases of the virus within the US, including increased testing patients who have flu-like symptoms.
  • Visit Business Insider's homepage for more stories.

American public health authorities announced new "mitigation" measures to disrupt the spread of the new coronavirus, beginning with patients who have flu-like symptoms.

Dr. Nancy Messonnier, the director of the CDC's Centre for Immunization and Respiratory Diseases, said on a media call Friday that there were currently 15 diagnosed cases of the coronavirus in the US, and the agency was weighing different approaches to contain the virus in several major cities.

See the rest of the story at Business Insider

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Secretary of State Pompeo's attacks on the media threaten freedom of speech around the world

Posted: 15 Feb 2020 08:07 AM PST

Mike Pompeo

  • Secretary of State Mike Pompeo has consistently attacked the media.
  • The job of a US diplomat is to support free speech and press freedom worldwide.
  • Pompeo's attacks on the media undermine that message and are a threat to a free press around the world.
  • Brett Bruen was the director of global engagement in the Obama White House and a career American diplomat. He runs the crisis-communications agency Global Situation Room.
  • This is an opinion column. The thoughts expressed are those of the author.
  • Visit Business Insider's homepage for more stories.

I dealt with a lot of difficult journalists during my diplomatic career.

There were those who prodded and pursued what at the Embassy believed were irrelevant issues. Some really seemed to be pushing your buttons to make a story of your overreaction. Yet, I always saw a key part of my job as defending their right to run us foreign service officers through the ringer and write what they would.

See the rest of the story at Business Insider

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Jeffree Star spent his first Valentine's Day since his breakup with Trisha Paytas in Las Vegas riding in a pink Hummer limo

Posted: 15 Feb 2020 07:36 AM PST

jeffree star trisha paytas valentine's dayScreenshot Instagram/jeffreestar

Beauty mogul Jeffree Star spent his Valentine's Day with none other than YouTuber Trisha Paytas, as the two jetted off to Las Vegas for a fun weekend. The newly single YouTuber and makeup CEO celebrated with Paytas and made his disdain for the holiday clear in a series of Snapchats and Instagram Stories.

In a good morning briefing with his Pomeranians, Star began his day at his $14.6 million mansion saying, "We're off to Vegas for the weekend to see some amazing performances and b---- I'm ready honey."

See the rest of the story at Business Insider

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A Justin Bieber fan said the singer DM'ed her after she said she wasn't impressed with his new album, 'Changes'

Posted: 15 Feb 2020 07:33 AM PST

justin bieber DM fan changes albumPratik Chorge/Hindustan Times via Getty; @BarstoolRia on Twitter

  • Justin Bieber's fifth studio album, "Changes," was released on Friday. 
  • Maria Ciuffo, the co-host of a Barstool Sports podcast called "Chicks in the Office," tweeted that she wanted to like Bieber's newest album, but hinted she wasn't a fan.
  • Then, Ciuffo said she received a DM from Bieber himself in response to her criticism, where he apparently wrote: "Too bad."
  • Ciuffo's reaction to apparently receiving the private message from Bieber is documented in a video posted by "Chicks in the Office."
  • Visit Insider's homepage for more stories.

Justin Bieber released his fifth studio album, "Changes," on Friday.

Bieber's "Changes," which contains a tracklist of 17 songs, may have delighted some fans of the singer who have missed his music, considering his last album, "Purpose," was released in 2015.

See the rest of the story at Business Insider

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The top 9 shows on Netflix and other streaming services this week

Posted: 15 Feb 2020 07:15 AM PST

harley quinnDC Universe

  • Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand original TV shows on streaming services in the US.
  • This week's list includes Netflix's "Stranger Things" and DC Universe's "Harley Quinn."
  • Visit Business Insider's homepage for more stories.

DC Universe's adult-oriented animated series, "Harley Quinn," got a big boost in audience demand this week, likely due to the release of the movie "Birds of Prey (and the Fantabulous Emancipation of One Harley Quinn)."

Every week, Parrot Analytics provides Business Insider with a list of the nine most in-demand TV shows on streaming services in the US.

The data is based on "demand expressions," Parrot Analytics' globally standardized TV-demand measurement unit. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or a download is a higher expression of demand than a "like" or a comment on social media, for instance.

This week, Netflix's "The Witcher" fell behind "Stranger Things." Expect the latter to gain an even bigger boost in the week ahead thanks to the release of the first teaser for season four on Friday.

Below are this week's nine most popular original shows on Netflix and other streaming services:

9. "You" (Netflix)


Average demand expressions: 36,637,262

Description: "A dangerously charming, intensely obsessive young man goes to extreme measures to insert himself into the lives of those he is transfixed by."

Rotten Tomatoes critic score (Season 2): 89%

What critics said: "The second season of You is even more bonkers than its predecessor, rectifying loose plot threads and keeping the addictive contents of the first season." — Film Inquiry (Season 2)

Season 2 premiered on Netflix on December 26. See more insights here.

8. "BoJack Horseman" (Netflix)


Average demand expressions: 39,250,039

Description: "Meet the most beloved sitcom horse of the '90s, 20 years later. He's a curmudgeon with a heart of...not quite gold...but something like gold. Copper?"

Rotten Tomatoes critic score (Season 6): 96%

What critics said: "The last few episodes hit all the right, bittersweet notes, and make the entire journey feel richer for how smartly the show chose its ultimate destination." — Rolling Stone (season 6)

The final episodes premiered on January 31 on Netflix. See more insights here.

7. "Chilling Adventures of Sabrina" (Netflix)


Average demand expressions: 41,371,945

Description: "Magic and mischief collide as half-human, half-witch Sabrina navigates between two worlds: mortal teen life and her family's legacy, the Church of Night."

Rotten Tomatoes critic score (Season 3): 89%

What critics said: "The character growth of Part 3 is simply put, delicious. The emotional payoffs of each journey keep the show from slipping into WTF!?! territory and firmly ground CAOS as a show with something to say outside of quippy one-liners." — TV Guide (season 3)

Season 3 premiered on January 24 on Netflix. See more insights here.

See the rest of the story at Business Insider

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Nearly 1,800 retail employees lost their jobs at 4 major companies this week — and it shows the great retail shakeout is far from over

Posted: 15 Feb 2020 07:12 AM PST

WayfairAP Photo/Jenny Kane

  • Nearly 1,800 retail employees were laid off at four major companies this week, signaling ongoing strife for the industry even as the US unemployment rate reached a 50-year low in 2019. 
  • While layoffs at Barneys and Kohl's reflect ongoing challenges for the traditional retail market, woes at Wayfair and Jet Black point to the dangers of e-commerce brands that grow too much, too fast. 
  • We took a closer look at this week's rash of layoffs as the retail apocalypse continues. 
  • Visit Business Insider's homepage for more stories.

Since Monday, nearly 1,800 total positions were eliminated across four major companies — Jetblack, Wayfair, Kohl's, and Barneys — in retail. These workers join a growing legion of retail employees who continue to be axed en masse from major companies, despite the US unemployment rate reaching a 50-year low in 2019.

While the challenges plaguing these companies are nuanced, the cuts represent a wide cross section of the issues affecting both traditional retailers and e-commerce companies alike, as they struggle to keep up with the fickle whims of consumers. 

"The struggles of Kohl's, Walmart, and Barneys are exemplary of what many retailers are facing today," Katrin Zimmermann, managing director of TLGG Consulting, told Business Insider. "There's a tendency to point towards rising rents and competition from e-commerce players as the source of these struggles, yet there are things all retailers can do to remain competitive in the new decade."

Though Barneys and Kohl's represent opposite sides of the traditional retail spectrum — Barneys an iconic luxury department store beloved among celebrities, and Kohl's the big-box store that became emblematic of the suburban US shopping center — both have failed to adapt to a quickly changing retail landscape.

"Department stores have been struggling for a long time, but they still generate billions of dollars," Sucharita Kodali, vice president and principal analyst at Forrester, told Business Insider last year. "That's not going to evaporate overnight, but we're still seeing this slow chipping away. Sometimes a well-executed program can help stave off the decline. Every quarter they have to pull a rabbit out of a hat." 

Meanwhile, on the e-commerce side, Jet Black and Wayfair represent the dangers of the plucky digital startup that grew too much, too fast. In both cases, these companies made lofty promises that left them incapable of handling high operating costs.

 Zimmermann said that for Kohl's and Wayfair — the two companies in the group still standing — survival will be dependent on refocusing on new target audiences and being smarter about how to integrate tech. 

"Technology has been a buzzword in retail for almost a decade now, yet there are still few companies that get it right," she told Business Insider. "It's not enough to simply hand out iPads to your employees. Technology is always a means to an end, never an end in itself. The end should always be a more seamless customer experience."

Here's a recap of layoffs from this week to bring you up to speed.

Kohl's: 250 employees

Business Insider/Jessica Tyler

After several quarters of underperforming sales, Kohl's announced on Wednesday it would slash 250 jobs, including several regional managers, as part of a larger companywide restructuring plan. Though Kohl's will not close any stores at the time being, the Midwest retailer has significant work to do in order to improve efficiencies and bolster sales, even after testing innovative partnerships like its return program with Amazon. 

"I was convinced that [the Amazon] partnership would have brought new potential customers through their doors to return Amazon products, with some portion of those customers spending money in the store on their way out," Jonathan Treiber, CEO of offer-management platform RevTrax, told Business Insider last year. "However, even if this were true, the rest of the Kohl's value proposition and store experience needs a face lift."



Wayfair: 550 employees

Business Insider

Wayfair employees on Thursday received an email from CEO Niraj Shah detailing mass layoffs, part of what staffers have dubbed the "Valentine's Day massacre." The cuts will affect 550 employees as part of the company's focus on "organizational changes" intended to "increase efficiencies," a Wayfair spokesperson told Business Insider's Mary Hanbury earlier this week.

In recent years, the company has hemorrhaged money into advertising and improving its inventory selection, investments that have failed to improve the company's "already wafer-thin margins," Neil Saunders, the managing director of GlobalData Retail, said previously.

Adding to its woes, in June Wayfair found itself at the center of controversy when customers and employees alike protested the brand for its role in furnishing migrant detention centers. 

Jet Black: 293 employees


On Thursday, Walmart announced that it would shutter its exclusive, members-only concierge service Jetblack, coming off a 2019 Wall Street Journal report that found the company was losing a staggering $15,000 per member. The brand was ambitious from the onset, but it garnered significant buzz as the brainchild of former CEO Jenny Fleiss, who also cofounded Rent the Runway. 

However, the departure of Fleiss in 2019 signaled that strife was afoot, and it didn't take long for the company to be crushed by its own zeal. Jet Black will close for good on February 21, at which point Walmart will "focus on how to leverage [its] infrastructure to make conversational commerce scalable," a spokesperson told Business Insider's Áine Cain

See the rest of the story at Business Insider

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SEE ALSO: Wayfair is laying off more than 500 workers