sábado, abril 13

Business

Tarte Island: Bora Bora Influencer Campaign Met With Online Backlash
Business

Tarte Island: Bora Bora Influencer Campaign Met With Online Backlash

Sonia Elyss, a 38-year-old beauty marketing specialist in New York City who has worked in influencer marketing for a decade, acknowledged the problem. “This isn’t the first time that I personally have witnessed influencer fatigue,” she said. “At peak influencer culture for Instagram, before TikTok was even a thing, we had the same scenario.”The difference now, Ms. Elyss pointed out, is the scale of influence made possible by TikTok, which has more than 150 million users in the United States, according to the company. On Instagram, people typically seek out or follow influencers. On TikTok, influencers’ content is more likely to pop up in your feed.Rachel Ferraro, a 25-year-old law student at Liberty University in Lynchburg, Va., described the Tarte campaign as “tone deaf,” adding that it w...
How 33-Year-Olds, the Peak Millennials, Are Shaping the U.S. Economy
Business

How 33-Year-Olds, the Peak Millennials, Are Shaping the U.S. Economy

I have covered economics for 11 years now, and in that time, I have come to the realization that I am a statistic. Every time I make a major life choice, I promptly watch it become the thing that everyone is doing that year.I started college in 2009, in the era of all-time-high matriculation rates. When I moved to a big coastal city after graduation, so did a huge crowd of people: It was the age of millennial urbanization. When I lived in a walk-in closet so that I could pay off my student loans (“The yellow paint makes it cheerful!”, Craigslist promised), student debt had recently overtaken auto loans and credit cards as the biggest source of borrowing outside of housing in America.My partner and I bought a house in 2021, along with (seemingly and actually) a huge chunk of the rest of the...
Elon Musk Sues OpenAI and Sam Altman for Violating the Company’s Principles
Business

Elon Musk Sues OpenAI and Sam Altman for Violating the Company’s Principles

OpenAI, the influential artificial intelligence company that ousted and then reinstated its high-profile chief executive three months ago, faces a new drama: a lawsuit from Elon Musk, one of the richest men in the world and a co-founder of the A.I. lab.Mr. Musk sued OpenAI and its chief executive, Sam Altman, accusing them of breaching a contract by putting profits and commercial interests in developing artificial intelligence ahead of the public good. A multibillion-dollar partnership that OpenAI developed with Microsoft, Mr. Musk said, represented an abandonment of a founding pledge to carefully develop A.I. and make the technology publicly available.“OpenAI has been transformed into a closed-source de facto subsidiary of the largest technology company, Microsoft,” said the lawsuit filed...
Yellen Urges Israel to Restore Economic Ties to West Bank
Business

Yellen Urges Israel to Restore Economic Ties to West Bank

Treasury Secretary Janet L. Yellen said on Tuesday that she had personally urged Prime Minister Benjamin Netanyahu of Israel to increase commercial engagement with the West Bank, contending that doing so was important for the economic welfare of both Israelis and Palestinians.Ms. Yellen’s plea was outlined in a letter that she sent to Mr. Netanyahu on Sunday. It represented her most explicit public expression of concern about the economic consequences of the war between Israel and Hamas. In the letter, Ms. Yellen said, she warned about the consequences of the erosion of basic services in the West Bank and called for Israel to reinstate work permits for Palestinians and reduce barriers to commerce within the West Bank.“These actions are vital for the economic well-being of Palestinians and ...
Jacob Rothschild, Banker, Financier and Philanthropist Dies at 87
Business

Jacob Rothschild, Banker, Financier and Philanthropist Dies at 87

Jacob Rothschild, a wealthy financier, patron of the arts and philanthropist with close ties to Israel, who broke with his family’s fabled banking dynasty at a time of radical change in the world of high finance, has died. He was 87.His death was announced on Monday by the Rothschild Foundation, a British charity of which he was the chairman. It did not specify when or where he died or give the cause of death.Mr. Rothschild — more formally the fourth Baron Rothschild — was descended from Mayer Amschel Rothschild, a coin trader in the Jewish ghetto in Frankfurt, who sent four of his five sons to Vienna, London, Naples and Paris to seek their fortune in the late 18th and early 19th centuries.For most of the 19th century, the House of Rothschild was the biggest bank in the world “by a wide ma...
What Is Your Housing Situation? We Want to Hear From You.
Business

What Is Your Housing Situation? We Want to Hear From You.

“No society can be fully understood apart from the residences of its members.”I have that quote (from “Crabgrass Frontier,” the seminal history of America’s suburbs) taped to a wall behind my desk. It summarizes why I love covering housing for The New York Times and seem never to run out of things to write about. Housing is everything. It’s where we live and raise our families. It is most people’s largest store of wealth. Whether you own, you rent, or you sleep outside, where you hang your head defines much of your existence.Over the past few decades, and especially since the pandemic, housing has gone from a symbol of American strength to an everyday crisis. Aspiring homeowners are becoming forever renters. People live in increasingly crowded households, the supply of illegal housing has ...
France Will Cut Spending as It Sees a Weaker Economy Ahead
Business

France Will Cut Spending as It Sees a Weaker Economy Ahead

France is entering an era of belt-tightening, as the wars in Ukraine and Gaza, economic slowdowns in Germany and China and record-high interest rates take a bigger-than-expected toll on growth.The French will find themselves faced with cuts of 10 billion euros ($10.8 billion) in government spending, on items including environmental subsidies and education, the government announced Thursday, on top of €16 billion in cuts announced a few months ago. The finance minister, Bruno Le Maire, on Monday revised the forecast for economic growth this year to 1 percent, down from 1.4 percent at the end of last year.“Lower growth means lower tax receipts, so the government must spend less,” Mr. Le Maire said at a news briefing.After spending lavishly during the pandemic to support the economy and shiel...
Fed Minutes Show Embrace of Inflation Progress but No Hurry to Cut Rates
Business

Fed Minutes Show Embrace of Inflation Progress but No Hurry to Cut Rates

Federal Reserve officials welcomed a recent inflation slowdown at their last meeting in late January but were intent on proceeding carefully as they tiptoe toward rate cuts, according to minutes from that gathering, which were released on Wednesday.Central bankers raised interest rates sharply from March 2022 to July 2023, pushing them to 5.3 percent from a starting point near zero. Those moves were meant to cool consumer and business demand, which officials hoped would weigh down rapid inflation.Now, inflation is slowing meaningfully. Consumer prices climbed 3.1 percent in the year through January, down sharply from their recent peak of 9.1 percent. But that is still faster than the pace that was normal before the pandemic, and it is above the central bank’s goal: The Fed aims for 2 perce...
A Billionaire Bought a Chunk of Manchester United. Now He Has to Fix It.
Business

A Billionaire Bought a Chunk of Manchester United. Now He Has to Fix It.

The process was six months old and already starting to wear on Jim Ratcliffe, the British billionaire, the first time he brought out the Champagne to toast his purchase of Manchester United. But even that celebration, at the Monaco Grand Prix in May, proved premature.There was no deal. Not yet.Doing one was never going to be easy. Mostly, that was because any potential sale for United offered a tantalizing marriage of money, power and history: Mr. Ratcliffe, the wealthy chairman of INEOS, the petrochemicals giant, had supported Manchester United since he was boy. United, the most decorated club in English soccer, was one of the most iconic brands in global sports. And the Premier League, to which it belonged, was the richest soccer league in the world.What ensued was an auction as unpredic...