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Sunday, February 9, 2020

Business News, Updates

Business News, Updates


The Future of Fintech: AI & Blockchain

Posted: 09 Feb 2020 10:00 AM PST

Sweeping global regulations, the growing penetration of digital devices, and a slew of investor interest are catapulting the fintech industry to new highs.

Of the many emerging technologies poised to transform financial services, two of the most promising and mature are artificial intelligence (AI) and blockchain.

74% of banking executives believe AI will transform their industry completely, and 46% of global financial services employees expect blockchain to improve transparency and data management.

See the rest of the story at Business Insider

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A man was arrested at the White House after he told a Secret Service agent he planned to kill Trump

Posted: 09 Feb 2020 09:59 AM PST

white houseGerald Herbert/AP

  • A 25-year-old man was arrested outside the White House after he threatened to assassinate President Donald Trump. 
  • Roger Hedgpeth told a Secret Service officer he was there to kill Trump with a knife that police found on his person. 
  • Hedgpeth was taken into custody and brought to a hospital for a mental health evaluation. 
  • White House security has been ramped up in recent years after several individuals successfully jumped over the iron fence surrounding the grounds, with one man making it all the way into the presidential residence in 2014.
  • Visit Business Insider's homepage for more stories.

A man carrying a knife was arrested outside the White House after he told a US Secret Service officer that he was there to kill the president, police said.

Roger Hedgpeth, 25, was arrested Saturday afternoon on a charge of making threats to do bodily harm, the Metropolitan Police Department said.

See the rest of the story at Business Insider

NOW WATCH: A law professor weighs in on how Trump could beat impeachment

See Also:

SEE ALSO: Trump called out a viral picture of his tan line for being edited, but originals didn't look too different

DON'T MISS: FACT CHECK: 3 false claims Trump made about the economy at his State of the Union address

Iran tried and failed for the fourth time in a row to put a satellite into orbit

Posted: 09 Feb 2020 09:51 AM PST

The apparent launching of Simorgh satellite-carrying rocket in an undisclosed location, Iran.Iranian Defense Ministry via AP

  • Iran tried, despite US opposition to the program, to put a satellite into orbit on Sunday, but it was unsuccessful, a defense official told state media, according to Reuters.
  • "It was launched with success and ... we have reached most our aims ... but the 'Zafar' satellite did not reach orbit as planned," the official told state television Sunday.
  • The latest failure marks the fourth time in a row Iran has been unable to successfully put a satellite in space.
  • Visit Business Insider's homepage for more stories.

Iran's latest attempt to put a satellite in space in spite of US opposition ended in failure, an Iranian defense ministry official told state media, Reuters reported Sunday.

"It was launched with success and ... we have reached most our aims ... but the 'Zafar' satellite did not reach orbit as planned," the official told state television Sunday.

See the rest of the story at Business Insider

NOW WATCH: We can thank the US military for the smelliest weapon in the world

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Trump shared a doctored video of Pelosi ripping his speech that's been viewed millions of times, and Democrats are outraged Facebook and Twitter still won't remove it

Posted: 09 Feb 2020 09:35 AM PST

nancy pelosi rips SOTU speechJonathan Ernst/Reuters

  • Nancy Pelosi enraged Republicans when she tore up Trump's State of the Union address following its conclusion last week. 
  • On Thursday, the president shared a doctored video that depicted her ripping it up while he introduced Charles McGee, one of the last living Tuskegee airmen. 
  • Twitter and Facebook have resisted calls to remove the edited video, claiming it does not violate their rules, enraging Democrats and emboldening Republican attacks against the House speaker.
  • Visit Business Insider's homepage for more stories.

Democrats are outraged after Facebook and Twitter have both refused to remove a video the president tweeted that modified timing of events at last week's State of the Union address to make it appear that House Speaker Nancy Pelosi had actually torn up Trump's speech while he was introducing Charles McGee, one of the last living Tuskegee airman. 

Pelosi's decision to tear up the president's speech, which actually occurred at the conclusion of his State of the Union address on February 4, was controversial in and of itself. Democrats praised the House speaker for standing up to the president, who was acquitted by the Senate in his impeachment trial less than 24 hours later. Republicans were outraged over Pelosi's move, with some calling for her to be reprimanded, claiming she potentially violated laws that prohibit the destruction of government documents.  

See the rest of the story at Business Insider

NOW WATCH: A law professor weighs in on how Trump could beat impeachment

See Also:

THE EVOLUTION OF THE US NEOBANK MARKET: Why the US digital-only banking space may finally be poised for the spotlight (GS, JPM)

Posted: 09 Feb 2020 09:30 AM PST

NeoBank Infographics 3x4Business Insider Intelligence

What is a neobank? Total Funding for Major European and US NeobanksBusiness Insider Intelligence

Neobanks, digital-only banks that aren't saddled by traditional banking technology and costly networks of physical branches, have been working to redefine retail banking in major markets around the world.

Top neobanks in the US & EU

The top neobanks in the US and EU include:

See the rest of the story at Business Insider

See Also:

SEE ALSO: Latest fintech industry trends, technologies and research from our ecosystem report

Forget the Galápagos and Iceland — here are 10 under-the-radar destinations to visit in 2020 if you want to escape the crowds

Posted: 09 Feb 2020 09:23 AM PST

Haida Gwaii Islands - British Columbia, CanadaMichael Nolan / Getty Images

  • Intrepid Travel, the world's largest small-group adventure travel company, has released its fourth annual "Not Hot" list, highlighting off-the-beaten-path and emerging destinations to visit in 2020. 
  • This year's list ranges from the "Galápagos of the North," a wild archipelago off the coast of British Columbia, to the deserts of northern Sudan. 
  • The purpose of the list is to help travelers discover new destinations without the crowds and ease the effects of overtourism.
  • Visit Business Insider's homepage for more stories.

Egypt is known as the land of pyramids; yet northern Sudan is home to over twice as many.

And while the Galápagos is known as the world's foremost wildlife haven, lesser-known Haida Gwaii, a mountainous archipelago off the coast of British Columbia, is an equally prime destination for wildlife viewing.

Northern Sudan and Haida Gwaii are two of the destinations on Intrepid Travel's 2020 "Not Hot" list, a collection of under-the-radar and emerging destinations for travelers looking to venture off the beaten path and escape crowds of tourists.

Intrepid Travel, the world's largest small-group adventure travel company, specializes in responsible tourism and offers over 1,500 trips in 120 countries across all seven continents.

In recent years, destinations such as Dubrovnik and Venice have buckled under the weight of overtourism, enacting a ban on new restaurants and limiting incoming cruise ships respectively to limit visitor numbers. In 2018, Croatia, which has a population of 4 million, received 57 million overnight visitors, and Italy, a country of 62 million, received 93 million overnight visitors.

Intrepid CEO James Thornton noted that increased climate awareness in recent years has led to travelers becoming more conscious about their impact on the destinations they visit

"There is a desire from tourists to ensure they are benefiting the communities they visit and local people they meet, while respecting their cultures, economy and the environment too," he said in a statement. "The Not Hot List aims to meet this growing demand and promote lesser-known destinations that are just as worthy of travelers' time."

Here are the 10 under-the-radar destinations Intrepid Travel recommends for 2020, in no particular order:

Moldova

Calin Stan / Shutterstock

Estimated number of overnight visitors per year: 160,000

In a nutshell: Europe's least visited country, which receives roughly the same number of visitors in a year that Croatia does in a day

What to see and do: Walk through the world's biggest wine cellar at Milestii Mici winery; visit Transnistria, a breakaway state that upholds Soviet values; tour Orheiul Vechi, a 14th-century monastery built into a cliff and UNESCO World Heritage site

Source: Intrepid Travel; UNWTO; UNWTO



Dakhla, Morocco

Cesare Palma / Shutterstock

Estimated number of overnight visitors per year: 100,000

In a nutshell: An isolated desert community on the edge of the Sahara that was "largely inaccessible until a couple of years ago," according to Intrepid 

What to see and do: Visit the White Sand Dune, a towering inland dune on the edge of a lagoon; sample freshly caught seafood from Bahia de Dakhla lagoon; join kitesurfers at Portorico Beach; go off-roading in Imlili, an inland desert dotted with fresh and saltwater lagoons

Source: Intrepid Travel; MSN; Oxford Business Group



The Gambia

DorSteffen / Shutterstock

Estimated number of overnight visitors per year:  552,000

In a nutshell: Mainland Africa's smallest country with diverse terrain that spans wetlands, desert, and coast

What to see and do: Visit Wassu Stone Circle, a UNESCO World Heritage site known as "West Africa's Stonehenge"; embark on a river safari around the Baboon Islands; see French colonial architecture on a walking tour through Janjanbureh; experience West African surf culture

Source: Intrepid Travel; UNWTO




See the rest of the story at Business Insider

See Also:

SEE ALSO: Overtourism can be solved, and it will start with locals 'taking control' of how much tourism — and what kind of it — they want, according to travel experts

DON'T MISS: The Croatian city featured in 'Game of Thrones' is so flooded with tourists that it may ban new restaurants. It's one of many cities buckling under the weight of overtourism.

The 17 best luxury hotels in the US to visit this year

Posted: 09 Feb 2020 09:23 AM PST

Montage Kapalua BayMontage

If you're looking for a stateside getaway, the best places to go are Chicago or a Hawaiian island and the best hotel brand to stay at is Four Seasons, according to US News & World Report.

For its just-released annual best hotels report, US News surveyed over 30,000 luxury hotels across North America, Europe, and the Caribbean. Only "luxury hotels," or hotels with more than 20 rooms and a 4-star "hotel class" rating, were eligible for ranking.

Four thousand US hotels were then reviewed and ranked, based on a combination of travel expert awards and opinions along with guest satisfaction data sourced from TripAdvisor.

The Four Seasons portfolio has five properties in the top 17 alone. Popular locations included Hawaii, Illinois, California, and Florida.

Here's a look at the best luxury hotels to book a stay at in 2020, listed in ascending order of ranking.

17. Four Seasons Resort Maui at Wailea

Four Seasons

Location: Wailea, Hawaii

Starting rate per night: $735

According to US News, guests are most likely to appreciate the award-winning spa, three golf courses, and recently renovated rooms with private balconies and patios. 



16. Four Seasons Resort Hualalai

Four Seasons

Location: Kailua-Kona, Hawaii

Starting rate per night: $974

The 243-room resort frequently tops the US News ranking — last year, it ranked No. 1. The golf course on property was designed by Jack Nicklaus and serves as a stop on the PGA Champions Tour. The resort also has seven swimming pools and an expansive art collection.



15. Four Seasons Hotel New York Downtown

Four Seasons

Location: New York, New York

Starting rate per night: $504

The hotel spans 24 floors of an 84-floor Tribeca building. It has all the signature Four Seasons amenities including a full-service spa and a Wolfgang Puck restaurant.




See the rest of the story at Business Insider

See Also:

SEE ALSO: The 17 best resorts in the world, according to travelers

DON'T MISS: These are the top 10 countries to retire in this year, according to US expats who have already made the move

I flew from New York to LA and back in a single day just to eat a cheeseburger and gawk at planes – here's why I'd do it again

Posted: 09 Feb 2020 09:22 AM PST

LAX Day Trip Alaska AirlinesThomas Pallini/Business Insider

  • The "$100 hamburger" is an aviation rite of passage and refers to when pilots fly their aircraft to a different city for a meal and come right back.
  • As a non-pilot, I flew as a passenger on a plane from New York to get my $100 burger at the In-n-Out Burger next to Los Angeles International Airport.
  • The ticket cost me $112 on Alaska Airlines, which now serves numerous transcontinental routes from New York.
  • The fast-food restaurant is one of the most visited sites in aviation for its unique views of the airport. 
  • Visit Business Insider's homepage for more stories.

In the aviation world, pilots routinely spend hundreds of dollars on food items.

It's not the cost of the food itself that drives up the price, but rather the cost of flying to get it.

General aviation pilots, when deciding on where to fly to, will often select destinations with a good food scene or even better, restaurants at the airport themselves. The 121 Restaurant at Waterbury-Oxford Airport in Connecticut, for example, is located at the airport with its own airplane parking stands, making it ideal for short trips from nearby airports. 

The "$100 hamburger," as it's referred to, is a rite of passage for pilots, especially newly-minted private pilots eager for a reason to get in the air.

For non-pilot aviation enthusiasts such as myself, however, some creativity is required since we can't as easily hop in a plane and fly it ourselves. 

So when the opportunity arose to fly to Los Angeles for $112 roundtrip thanks to an Alaska Airlines "buy one get one" promotion, I jumped on it for a chance to visit one of the most famous restaurants in aviation.

Here's my quest for the $112 cheeseburger.

The journey started in December when Alaska Airlines had a "buy one, get one" promotion for all of its flights, lowering transcontinental fares to as low as double-digit numbers.

David McNew / Getty Images

Since merging with Virgin America, Alaska now serves cities up and down the West Coast from my hometown of New York, making the decision on where to go difficult. I could pick anywhere from San Diego to Seattle and get a great price.

AP

I ultimately decided on Los Angeles. My plan was to fly out early in the morning on Saturday and back the same night on a red-eye in time to catch the Super Bowl.

Getty Images


See the rest of the story at Business Insider

See Also:

SEE ALSO: I flew basic economy on Finnair from New York to Helsinki and it was surprisingly great despite my initial fears — here's why

Read More: The best and worst US airlines to fly for in-flight entertainment, ranked

10 'Star Wars' locations you can actually visit in real life

Posted: 09 Feb 2020 09:22 AM PST

TunisiaShutterstock

  • You can visit many "Star Wars" filming locations in real life.
  • Grizzly Creek Redwoods State Park is one of the many forests they filmed in.
  • You can visit Tunisia to see Tatooine, Lake Como to see Naboo, and Rub' al Khali desert to see Jakku.
  • Visit Insider's homepage for more stories.

The beginning of every "Star Wars" film reminds viewers that the events they are about to witness took place "a long time ago in a galaxy far, far away," but that's not entirely true.

The films were largely shot on location on this planet, which means that you can actually visit many of the beloved "Star Wars" destinations in real life.

From national parks in the United States to islands off the coast of Ireland, here are some iconic Star Wars locations you should add to your travel bucket list.

Tunisia is one of the most-prolific "Star Wars" locations.

lermont51/Shutterstock

Tunisia has served as the sand-covered backdrop to scenes in several "Star Wars" films.

Shubie Gorge, Chott el Jerid, Matmata, Djerba, and other areas in the North African country are the real-world stand-ins for the planet Tatooine where we were first introduced to Luke Skywalker in "A New Hope."

The name of the fictional planet was borrowed from a real Tunisian town called Tataouine.

There are tours that take you around abandoned sets and notable landmarks seen in the films, and there is even the option to stay in the Lars Homestead where Skywalker grew up, now called Hotel Sidi Driss.



Death Valley has a few locations, too.

silky/Shutterstock

Some outdoor Tatooine scenes were also filmed in Death Valley, a US National Park situated in California and Nevada.

The National Park Service website lists Golden Canyon, Dante's View, Desolation Canyon, and other key areas for "A New Hope" fans venturing to stand where their heroes once stood.



Grizzly Creek Redwoods State Park is one of the many forests they filmed in.

Miguel Vieira/Flickr

Grizzly Creek Redwoods State Park in California is one of the lush filming locations used in "Return of the Jedi" as the Forest Moon of Endor.

Fans of the saga will want to visit the park's Cheatham Grove, in particular, because it is where George Lucas and his crew shot the iconic speeder bike chase. 




See the rest of the story at Business Insider

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The ceilings of Mumbai's taxis are unexpectedly covered in vibrant patterns ranging from flowers to fruit

Posted: 09 Feb 2020 09:21 AM PST

21gCourtesy of Rachel Lopez

  • A Mumbai-based journalist named Rachel Lopez has been documenting the colorful ceilings of the city's black-and-yellow taxis, also known as kaali-peeli cabs.
  • Lopez began taking photos of the vibrant ceilings in April 2017. 
  • She has captured more than 500 photographs of taxi ceilings, which she has shared on her Instagram.
  • Visit Insider's homepage for more stories.

A Mumbai-based journalist named Rachel Lopez has been photographing the intricate ceilings of taxis around the city.

Courtesy of Rachel Lopez

Lopez works as a journalist for the Hindustan Times, where she writes features and frequently covers the history and culture of Mumbai, India. Her work requires her to travel to different parts of the city, meaning she's spent a lot of time in taxis.

More than two years ago, Lopez began documenting the vibrant ceilings of Mumbai's black-and-yellow cabs, known as kaali-peeli taxis, on Instagram



Lopez started taking photos of the ceilings in April 2017 after looking up to find the decorative fabric during one of her normal commutes.

Courtesy of Rachel Lopez

"I was headed to work on a warm April day in 2017, and noticed that my taxi had a ceiling with a chocolate-brown background offset by strawberries in unnatural colors like purple, green and blue," Lopez said. "It was ghastly. I loved it immediately and wanted to take a shot for fun."



Now, her Instagram feed is filled with hundreds of photos featuring just half of her face, and a colorful backdrop.

Courtesy of Rachel Lopez

"The method is simple," Lopez told Insider. "I take a taxi and realize once I'm inside and looking up if it's a ceiling I haven't photographed." 

"What emerges is my half-face — mostly a forehead, eyes, nose and scarf — and a dramatic backdrop that might feature anything from an assemblage of fruit (melons, kiwis, maybe a pineapple), wallpaper florals, and bright geometric shapes, to pinned plastic blooms, butterflies, and pinwheels," she added. 

Lopez also explained that her collection of selfies "makes for the most unusual art gallery," as "each work of art is hanging separately and in constant motion on the streets."




See the rest of the story at Business Insider

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Two NYPD officers were ambushed by gunmen in less than 24 hours in 'assassination' attempts

Posted: 09 Feb 2020 09:05 AM PST

nypd officersJohn Minchillo/AP

  • Two officers with the New York Police Department were shot in less than 24 hours in attacks authorities called assassination attempts.
  • The attacks were both ambushes on officers located in the Bronx, though police could reportedly not confirm if they were connected.
  • Mayor Bill de Blasio condemned "blind hatred" carried out on the city's police officers.
  • Visit Insider's homepage for more stories.

Two officers with the New York Police Department were shot in less than 24 hours in the Bronx in what Mayor Bill de Blasio called "assassination" attempts.

On Saturday night, a man in a black jacket approached two police officers sitting in a van to ask for directions before opening fire into the car, injuring one officer and missing the second, according to WABC New York. The wounded officer is expected to recover.

See the rest of the story at Business Insider

NOW WATCH: Why hydrogen cars will be Tesla's biggest threat

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Get the latest news, data, highlights, and analysis from the Business Insider Intelligence research team - FREE

Posted: 09 Feb 2020 09:03 AM PST

 

biidaily 2x1bii

These days, it's imperative to walk into work not just aware of the news in your industry, but with a full understanding of its context and meaning.

See the rest of the story at Business Insider

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A KFC food worker in China was infected with the coronavirus, despite efforts to curb spreading with contactless delivery and thousands of store closures

Posted: 09 Feb 2020 08:40 AM PST

Pizza Hut and KFC contactless delivery in China.PNGYum China

  • A KFC food preparation employee in a China location has been infected with the deadly coronavirus, according to China News.
  • The news comes amid the company's efforts to curb spreading with contactless delivery service.
  • Yum China, the parent company of KFC in China, has already closed multiple stores to curb further spreading of the deadly disease.
  • "Looking into 2020, the coronavirus outbreak is a major public health situation in China," YUM China's CEO Joey Wat said in a statement in the company's latest earnings report. "Our top priority is the health and safety of our employees and customers."
  • Visit Business Insider's homepage for more stories.

A KFC worker in China has been infected with the deadly coronavirus, according to a report from China News.

The patient reportedly worked at the front counter of a KFC in an eatery in the Xiaozhai Intime shopping center, in the Xian, Shaanxi province, where the worker's main job involved food preparation.

See the rest of the story at Business Insider

NOW WATCH: How lava lamps are made at the 55-year-old factory where they were invented

See Also:

SEE ALSO: YUM China CEO says her over 450,000 employees are like a family that won't be replaced by automation

12 science-backed facts about cheating that all couples should know

Posted: 09 Feb 2020 08:27 AM PST

cheatingGetty Images

  • Infidelity means different things to different people.
  • Psychologists and relationship experts have spent years studying the science of infidelity, including when couples are more likely to cheat and how it can affect them.
  • Men are more likely to cheat when they have a milestone birthday coming up, according to one study.
  • Straight men are more distressed by sexual infidelity, while straight women are more distressed by emotional infidelity.
  • Visit Business Insider's homepage for more stories.

Infidelity is murky territory. Does a one-night stand at a bachelor party count? How about an emotional entanglement with a close friend that doesn't involve anything physical?

Psychologists and relationship experts have spent years studying the science of infidelity, turning up surprising insights into what different couples consider cheating, how they react to cheating, and how they bounce back after someone strays.

We looked into some of that research and pulled out the most compelling results. Read on to see what we found — and how you can apply these findings to your own relationship.

If you're economically dependent on your spouse, you're more likely to cheat on them.

Getty Images

2015 study of about 2,800 people between ages 18 and 32, published in the American Sociological Review, suggests that a person who is completely economically dependent on their spouse is more likely to be unfaithful

That's especially true for a man who relies financially on a woman. About 15% of men who are completely financially dependent on their wives cheat, compared to 5% of dependent women.

Here's the really interesting part: Men are less likely to cheat the more money they make relative to their spouse — until they bring in 70% of the household income, at which point they become more likely to cheat again.

Women are also less likely to cheat the more money they make relative to their spouse — but their cheating rates don't seem to go up at any point.



We feel differently based on the sex of the person our partner cheats with.

Getty Images

For a 2015 study, published in the journal Personal Relationships, men and women read about hypothetical scenarios in which their partner had sex with someone of a different sex or the same sex.

When researchers asked participants how they would feel about it, the men were more likely to be angry and more inclined to end a relationship if their partner cheated with someone of a different sex. But they were more likely to be aroused if their partner cheated with someone of the same sex.

Women also said they'd feel more negatively if their partner cheated with someone of a different sex. But they'd be more inclined to end the relationship if their partner cheated with someone of the same sex.



We think everyone is cheating — except our partner.

Hinterhaus Productions/Getty Images

Relationships are bound to disintegrate — but not yours, of course!

In a 2015 study published in the Journal of Social and Personal Relationships, university students estimated that the average person of the opposite sex has about a 42% chance of cheating on their partner.

But when it came to their own partners, participants estimated that there was about a 5% chance that their partner had already cheated on them and about an 8% chance that they would cheat on them in the future.

As it turns out, 9% of participants said they'd really strayed.




See the rest of the story at Business Insider

See Also:

SEE ALSO: The most insidious type of cheating isn't physical — here are 9 signs your partner could be guilty

20 products you won't believe were created the same year

Posted: 09 Feb 2020 08:26 AM PST

mickey mouse sliced breadJae C. Hong, File/AP, Africa Studio/Shutterstock

Some inventions are so ubiquitous that it can feel like they've been around forever. But many are more recent discoveries than you might think.

Here are 10 pairs of products that you didn't know were invented the same year.

Light switches and zippers were both invented in 1917.

ervstock/Shutterstock, Lasha Kilasonia/Shutterstock

William J. Newton and Morris Goldberg patented wall light switches in 1917.

Giden Sundback patented the "separable fastener" in 1917, as well. The name "zipper" was popularized by B.F. Goodrich Company in 1923.

 



Mickey Mouse made his first appearance in 1928, the same year sliced bread was invented.

Jae C. Hong, File/AP, Africa Studio/Shutterstock

"Steamboat Willie" made Mickey Mouse a star in 1928 when it premiered at the Colony Theatre in New York. The famous mouse was created by Walt Disney and Ub Iwerks at the Walt Disney Studios that year.

That same year, the first automatically sliced bread was created using a machine invented by Otto Rohwedder.



In 1938, soft serve ice cream and ballpoint pens made their debut.

Elyse Anzalone/Shutterstock, Caron Badkin/Shutterstock

According to Dairy Queen, soft serve ice cream was invented in 1938 by John Fremont McCullough and his son Alex, who opened the first Dairy Queen in 1940. (Carvel also claims to have invented soft serve.)

A journalist named László Bíró invented ballpoint pens with an ink flow modeled after printing presses in 1938.




See the rest of the story at Business Insider

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Critics have called a wealth tax 'un-American,' but the idea is as old as the American Revolution

Posted: 09 Feb 2020 08:18 AM PST

taxes tax time guyJoe Raedle/Getty Images

  • The idea of levying a tax on the wealthy has become more popular, and critics have attacked the idea as "un-American."
  • But the history of progressive taxation in the US dates back to the founding of the country.
  • So perhaps a wealth tax is a return to the Founders' principles, rather than a radical change.
  • Tom Shachtman is an author. His most recent book The Founding Fortunes: How the Wealthy Paid for and Profited From America's Revolution, was just published by Saint Martin's Press.  
  • This is an opinion column. The thoughts expressed are those of the author.
  • Visit Business Insider's homepage for more stories.

Although more than 70% of the federal government's income from personal taxes is paid by people making above $100,000 a year, progressive taxation has been in decline for the last 75 years. 

Currently the 400 wealthiest Americans, billionaires all, pay a smaller percent of their income in taxes (around 23%, according to economists Emmanuel Saez and Gabriel Zucman) than do Americans with incomes nearer the national average income of $69,000 a year (a 25% to 30% rate).  

See the rest of the story at Business Insider

NOW WATCH: What it's like to ride the world's longest flight

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19 countries where the kids of the wealthy are most likely to end up poor

Posted: 09 Feb 2020 08:00 AM PST

parent talking to child before going to school

  • Although parents want their children to achieve more success than themselves, there is a chance that their children will earn less than them.
  • The World Bank released a report in 2018 that looked at intergenerational educational mobility.
  • Using the probability that a child from a family in the top quarter of educational attainment ends up in the bottom half from the World Bank's database, we ranked the countries with higher rates of downward mobility than the US.  
  • Visit Business Insider's homepage for more stories.

Everyone wants their child to move up the social ladder to achieve the American Dream of being more economically successful than themselves. However, it is also possible to move downward.

According to 2017 data released by the Pew Research Center, 58% of Americans believe today's generation will be economically worse off than their parents. And for many families in the middle and upper classes, there is a serious possibility of that happening.

The World Bank released a report in 2018 regarding educational mobility across generations — changes in the level of educational attainment achieved by a child compared to their parents — and how it affects economic mobility. The report used family data between the 1940s and the 1980s from the World Bank's Global Database on Intergenerational Mobility.

According to the report, educational mobility can in part be used to measure economic mobility "because education tends to be a strong predictor of lifetime earnings." However, the World Bank notes there are limitations using education as a factor for determining economic mobility: variation in the kinds of skills children have access to learning, living circumstances, ethnicity and race, parents' job connections, and other factors play a role in these mobilities and their relationship.

In the US, 20.1% of children born into families in the top quarter of educational attainment in the 1980s ended up in the bottom half. Those children were born to highly-educated parents, and ended up as adults with a lower level of educational attainment, suggesting a slide down the socioeconomic ladder for these families.

Of the 35 high-income, developed countries included in the World Bank database, 19 had a higher chance for children born into a family in the top quarter of educational attainment to move into the bottom half than in the US. 

Variability in downward mobility can also be seen within the US. According to social mobility data from The Opportunity Atlas data set written about in the Washington Post, there is downward economic mobility for middle-income families in the Southeast and the Southwest.

The World Bank data suggests a silver lining, however. Although downward mobility is happening among families at the top, children born into families from families with a lower socioeconomic status are also moving up in the world.

Of the 19 countries with a higher rate downward mobility for highly-educated families than the US, 17 had high rates of children born into a families where parents are part of the bottom half of educational attainment move up to the top. That is, although moving down the social ladder is prevalent in some of the developed countries, there is hope for moving upward and consequently improving their living situation. That suggests that many of the countries on this list are experiencing a more general degree of socioeconomic flow between generations, rather than a specific decline at the top.

Here are the 19 high-income countries in the World Bank's database where a high probability of children born in the 1980s into the top quarter of educational attainment ended up in the bottom half, ranked from lowest to highest:

19. Poland: 20.8% of children with parents in the top quarter ended up in the bottom half.

Alexander Spatari/Getty Images

18. Austria: 21.6% of children with parents in the top quarter ended up in the bottom half.

Sylvain Sonnet/Getty Images

17. Ireland: 22.1% of children with parents in the top quarter ended up in the bottom half.

David Soanes Photography/Getty Images


See the rest of the story at Business Insider

See Also:

SEE ALSO: The 12 countries where poor children are more likely to get rich and actually achieve the American Dream than in the US

I've started eating healthier and losing weight without spending a fortune thanks to an unlikely ally: Costco

Posted: 09 Feb 2020 07:57 AM PST

costco membership card

  • Intermittent fasting is a diet protocol that primarily consists of fasting for 16 hours a day and restricting your caloric intake to an eight-hour window. 
  • With its low prices and bulk food products, Costco allowed me to realize my full intermittent fasting potential by simplifying the way I prepare and eat meals. 
  • For me, intermittent fasting has been a great way to lose weight, improve my overall health, and save money.
  • You can use the Costco Anywhere Visa® Card by Citi to earn 2% back on eligible in-store and online Costco purchases, including food.

Late last year, I realized I needed to make a number of changes in my life related to food and diet. I made a simple list of my goals:

  • Spend less money
  • Eat healthier and consume more plant-based foods
  • Have more structure in my diet
  • Lose weight

After some research and experimentation, I realized that all of these goals could be achieved through intermittent fasting, a diet protocol that restricts your eating window to eight hours a day. You choose a window when you'd like to eat, such as 9 am to 5 pm, and you fast the rest of the day.

See the rest of the story at Business Insider

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PRESENTING: Relationship experts share the 12 warning signs that can predict divorce

Posted: 09 Feb 2020 07:56 AM PST

marriage story netflixNetflix

No one can say with 100% certainty that a couple is heading for divorce.

However, social scientists have gotten pretty good at predicting who's most likely to wind up there. These couples share certain commonalities — in the way they fight and the way they describe their relationship, but also in their education level and employment status.

Even if a marriage ends in divorce, that doesn't mean it's a failure. However, the cultural dynamics around divorce captivate audiences: Netflix's "Marriage Story" has earned several Oscar nominations

See the rest of the story at Business Insider

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'Birds of Prey' disappoints at the box office, bringing in only $33.2 million its opening weekend

Posted: 09 Feb 2020 07:54 AM PST

birds of prey warner brosWarner Bros.

  • Warner Bros.' "Birds of Prey" won the domestic box office, but with a soft $33.2 million.
  • The studio projected a $45 million opening (about half of its production budget), while industry projections were around $50 million to $55 million.
  • It's a disappointing opening for the DC Comics movie, which has a fresh Rotten Tomatoes score of 81%. Its R rating may have kept away teen girls who love the movie's lead, Harley Quinn.
  • Visit Business Insider's homepage for more stories.

Well, this was unexpected.

Though it's one of the most anticipated releases of the year, was critically acclaimed with a Rotten Tomatoes score of 81%, and is the most attractive new release in theaters since the mid January opening of "Bad Boys for Life," Warner Bros.' latest DC Comics title, "Birds of Prey: And the Fantabulous Emancipation of One Harley Quinn," had a very soft opening.

See the rest of the story at Business Insider

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