Business News, Updates
- Tokyo Olympics organizers says there is no 'Plan B' for 2020 summer games amid coronavirus fears
- NOT A FAIRYTALE: How Americans can survive and thrive after a divorce
- 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
- 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
- Former employee says he heard Bloomberg ask a female co-worker if she was going to 'kill it' after announcing her pregnancy
- 30 Big Tech Predictions for 2020
- Colleges are creating intergenerational living programs because they benefit both seniors and students
- What it's like to eat roast suckling pig at El Sobrino de Botín, the oldest restaurant in the world
- Diamond Princess cruise ship has 67 passengers who have tested positive for coronavirus onboard, Japan's Health Minister announced
- We tested four hair dryers at different price points—here's the best one
- I ate at one of America's best burger chains, and I hope it keeps expanding outside of the Midwest
- A cancelled conference and supply chain issues: How the coronavirus outbreak is affecting Facebook's business (FB)
- Private equity's data-hiring push; The top M&A bankers, ranked; Tradeweb's next move
- Kobe Bryant joins 7 other Basketball Hall of Fame nominees this year, along with Tim Duncan and Kevin Garnett
- The US will begin testing patients with flu-like symptoms for coronavirus in an expanded effort to contain the outbreak
- Secretary of State Pompeo's attacks on the media threaten freedom of speech around the world
- Jeffree Star spent his first Valentine's Day since his breakup with Trisha Paytas in Las Vegas riding in a pink Hummer limo
- A Justin Bieber fan said the singer DM'ed her after she said she wasn't impressed with his new album, 'Changes'
- The top 9 shows on Netflix and other streaming services this week
- 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 10:04 AM PST
Jae 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
Posted: 15 Feb 2020 10:00 AM PST
American marriage is looking less essential for a fulfilling life.
Posted: 15 Feb 2020 09:39 AM PST
Screenshot Twitter/billie eilish source media, Gary Miller/Getty Images
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
Posted: 15 Feb 2020 09:38 AM PST
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
NOW WATCH: What's inside a puffer fish
Posted: 15 Feb 2020 09:31 AM PST
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
Posted: 15 Feb 2020 09:30 AM PST
Digital transformation has just begun.
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
Posted: 15 Feb 2020 09:26 AM PST
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
Posted: 15 Feb 2020 09:02 AM PST
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.
Posted: 15 Feb 2020 09:00 AM PST
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
Posted: 15 Feb 2020 08:52 AM PST
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?See the rest of the story at Business Insider
Posted: 15 Feb 2020 08:49 AM PST
Michelle Larkin for Insider
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.
Posted: 15 Feb 2020 08:48 AM PST
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
Posted: 15 Feb 2020 08:31 AM PST
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
Posted: 15 Feb 2020 08:20 AM PST
Kobe Bryant is one of eight nominees for the Naismith Memorial Basketball Hall of Fame this year.
Posted: 15 Feb 2020 08:14 AM PST
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
NOW WATCH: Here's how to escape a flooding vehicle
Posted: 15 Feb 2020 08:07 AM PST
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
Posted: 15 Feb 2020 07:36 AM PST
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
Posted: 15 Feb 2020 07:33 AM PST
Pratik Chorge/Hindustan Times via Getty; @BarstoolRia on Twitter
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
Posted: 15 Feb 2020 07:15 AM PST
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)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)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)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
Posted: 15 Feb 2020 07:12 AM PST
AP Photo/Jenny Kane
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 employeesBusiness 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 employeesBusiness 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 employeesWalmart
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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