News

Pinterest adds first Black board member after accusations of discrimination from employees

Pinterest appointed former Harpo Studios executive Andrea Wishom to its board of directors on Monday. She will be become the board’s first Black member, following complaints discrimination from former Pinterest employees. The longtime media executive hopes to build upon “Pinterest’s expansion into content and media.” Visit Business Insider’s homepage for […]
Pinterest adds first Black board member after accusations of discrimination from employees
News

Trump urges Americans to boycott Goodyear Tire after the company told employees they couldn’t wear MAGA hats or any political attire to work

Goodyear Tire made headlines on Tuesday when a photo of a slide said to be from an employee diversity training was shared online. The slide suggested that employees could support Black Lives Matter or other equality-focused causes at work but not specific political ideologies, including President Donald Trump. “Don’t buy […]
Trump urges Americans to boycott Goodyear Tire after the company told employees they couldn’t wear MAGA hats or any political attire to work
News

Outdoor giant REI planned a lush new headquarters complete with real campfires, but it’s going up for sale before it has a chance to open

REI is abandoning its brand-new corporate campus in bid to save money and encourage remote work among its employees. The co-op now plans to have multiple “headquarters” locations throughout the Seattle area and expects more employees to work from home long-term. As the Covid-19 pandemic upends traditional notions of offices, […]
Outdoor giant REI planned a lush new headquarters complete with real campfires, but it’s going up for sale before it has a chance to open
News

Lyft couldn’t pivot to food delivery or overseas markets as the coronavirus decimated ride-hail in the US. Here’s what to expect from its earnings report.

Lyft will reveal its second-quarter financial results on Wednesday afternoon. Unlike Uber, which reported last week, Lyft didn’t have a delivery arm to lean on as the coronavirus decimated rides requests. Analysts expect the company to report its lowest revenues in more than three years. Visit Business Insider’s homepage for […]
Lyft couldn’t pivot to food delivery or overseas markets as the coronavirus decimated ride-hail in the US. Here’s what to expect from its earnings report.
News

The coronavirus pandemic gave fresh life to Hello Fresh — and the meal-delivery startup just raised its revenue growth guidance for the third time this year

German-based Hello Fresh has raised its guidance for the third time in 2020, citing ‘strong habit formation’ as customers get hooked on the service in quarantine and a lack of traditional summer vacations. The pandemic has required more households to cook within their homes, leading to increased sales for the […]
The coronavirus pandemic gave fresh life to Hello Fresh — and the meal-delivery startup just raised its revenue growth guidance for the third time this year
News

Tesla announces 5-for-1 stock split as shares continue to rip higher

Tesla on Tuesday announced a five-for-one stock split effective August 31. At the close of trading on August 28, shareholders will receive five shares for every one they own. At Tuesday’s prices, the new stock price would be about $US274 per share. Visit Business Insider’s homepage for more stories. Tesla […]
Tesla announces 5-for-1 stock split as shares continue to rip higher
News

Elon Musk defends calling Tesla’s software ‘Autopilot’ and says criticism that the name is misleading is ‘idiotic’

Elon Musk lashed out against critics of Tesla’s Autopilot in a new interview. Tesla’s CEO said suggestions that a name change would improve safety are ‘idiotic.’ The driver-assistance software has been linked to a handful of crashes, including multiple deaths. Visit Business Insider’s homepage for more stories. Tesla’s Autopilot software […]
Elon Musk defends calling Tesla’s software ‘Autopilot’ and says criticism that the name is misleading is ‘idiotic’
News

A small Caribbean nation helped popularise ‘citizenship by investment’ — now it’s counting on it to make up for lost tourism

Secondary passports are in hot demand as coronavirus travel restrictions wreak havoc on tourism. For tourist-dependent economies in the Caribbean, there’s an opportunity. Les Kahn, head of St. Kits and Nevis’ “citizenship by investment” program, told Business Insider it’s been key for making up lost revenue. Visit Business Insider’s homepage […]
A small Caribbean nation helped popularise ‘citizenship by investment’ — now it’s counting on it to make up for lost tourism
News

Tesla quietly revealed it got a government coronavirus bailout after Elon Musk opposed another stimulus package

Tesla on Tuesday revealed it received “certain payroll benefits” from “governmental responses” to the coronavirus pandemic. Last week, CEO Elon Musk lambasted further bailout efforts in favour of direct stimulus payments to citizens. Over the years, Tesla and other Musk companies have benefited from billions of dollars in government assistance. […]
Tesla quietly revealed it got a government coronavirus bailout after Elon Musk opposed another stimulus package
News

A lawyer who helps ultra-wealthy families get secondary citizenships says business is booming in 2020 — and not just because of the coronavirus

Small countries have long sold residency and passports to those with spare money willing to invest. Some of those are now essentially worthless with travel restrictions implemented due to the coronavirus. That’s why the ultra-wealthy seek out services of people like David Lesperance, a lawyer who’s made a decades-long career […]
A lawyer who helps ultra-wealthy families get secondary citizenships says business is booming in 2020 — and not just because of the coronavirus
News

Mayonnaise is having a moment as people eat their meals at home during the pandemic

Demand for Hellmann’s mayonnaise contributed to double-digit growth in Unilever’s food sales in the second quarter. Unilever’s in-home food and refreshment portfolio grew 17% in the second quarter, while its out-of-home food and refreshment sales declined 42%. The strong sales further highlight the shifting eating trends of Americans, with meals […]
Mayonnaise is having a moment as people eat their meals at home during the pandemic
News

Elon Musk says he doesn’t support another government stimulus because of ‘special interests.’ Most of his 44,000 employees likely benefited from it.

Elon Musk on Friday decried “special interests earmarks” in economic relief measures designed to help pad an economic decline sparked by the coronavirus pandemic. In a tweetstorm, the billionaire said only direct payments should be included in follow-up bills in the works on Capitol Hill. Thousands of Tesla workers likely […]
Elon Musk says he doesn’t support another government stimulus because of ‘special interests.’ Most of his 44,000 employees likely benefited from it.
News

Clothing sales have surged as lockdowns fade and Americans return to stores — but the boon in online shopping appears to be fading

Retail sales outpaced economists’ expectations for June, according to new data released Thursday. The US Census Bureau says clothing, electronics, and furniture led the uptick. However, a surge in cases as the country fails to contain the outbreak could upset the rebound. Visit Business Insider’s homepage for more stories. Clothing, […]
Clothing sales have surged as lockdowns fade and Americans return to stores — but the boon in online shopping appears to be fading
Strategy

Some business schools are waiving GMATs as a requirement

Many elite MBA programs have relaxed their exam requirements because of the coronavirus pandemic. The GMAT won’t be required at many schools in 2021 either, as schools grapple with an economic reckoning. University programs across all levels have begun to re-think testing requirements in recent years, and the pandemic could […]
Some business schools are waiving GMATs as a requirement
News

Caribbean countries are selling citizenship for as low as $100,000 — here’s how the ultra-wealthy are cashing in to avoid pandemic travel restrictions

Secondary passports are in high demand as the coronavirus pandemic causes travel restrictions around the world. In the Caribbean, some nations are offering steep discounts to bring in extra revenue amid a cash crunch. Passport buying has shifted from simple vacations to riding out the virus, experts say. Visit Business […]
Caribbean countries are selling citizenship for as low as $100,000 — here’s how the ultra-wealthy are cashing in to avoid pandemic travel restrictions
News

Tesla confirms its annual meeting and highly anticipated ‘battery day’ will be held in-person on September 22 at its Fremont factory

Tesla on Friday confirmed its delayed annual investor meeting will happen with an in-person event on September 22, but it doesn’t anticipate any “formal stockholder business” to occur. The company’s much awaited “battery day,” where it intends to show off its latest in electric powertrain prowess, will also happen the […]
Tesla confirms its annual meeting and highly anticipated ‘battery day’ will be held in-person on September 22 at its Fremont factory
News

Elon Musk predicts Tesla will complete the ‘basic functionality’ needed for fully autonomous driving this year — 4 years after the company started selling ‘full self driving’ software

Elon Musk said Tesla’s long-promised “full self-driving” capabilities may actually come true this year. The CEO made the prediction in a recorded video message played at a conference in China. “I remain confident that we will have the basic functionality for level five autonomy complete this year,” Musk said, according […]
Elon Musk predicts Tesla will complete the ‘basic functionality’ needed for fully autonomous driving this year — 4 years after the company started selling ‘full self driving’ software
News

The survival of small businesses in American college towns is being threatened as restaurants, bars, and bookstores are stuck hoping students return to campus this fall

Small businesses in university and college towns rely heavily upon students for their revenue. Some businesses make 80% or more of their income from university-related traffic. Business Insider spoke to restaurants, bars, and bookstores in college towns around the country to find out what it is like to operate during […]
The survival of small businesses in American college towns is being threatened as restaurants, bars, and bookstores are stuck hoping students return to campus this fall
News

The company behind Kim Kardashian and Kylie Jenner’s beauty brands says a competitor stole trade secrets when it invested in the family’s businesses

The company that powers Kim Kardashian West and Kylie Jenner’s makeup lines, Seed Beauty, says its competitor, Coty, stole confidential trade secrets. Coty, the struggling conglomerate behind brands like Covergirl and Sally Hansen, invested earlier this year in Kylie Cosmetics and just inked another deal with Kardashian West. Seed says […]
The company behind Kim Kardashian and Kylie Jenner’s beauty brands says a competitor stole trade secrets when it invested in the family’s businesses
News

Elon Musk and his brother double down on misleading coronavirus theories

Tesla CEO Elon Musk once again amplified misleading theories about the US’ handling of the coronavirus on Tuesday. In tweets, the billionaire and his brother questioned false positive testing rates and death rates in the US as cases continue to skyrocket. Even with false positives left out, the US would […]
Elon Musk and his brother double down on misleading coronavirus theories
News

Emergency coronavirus loans for small businesses are ending with $134 billion leftover — and there’s little economic relief in sight as the pandemic drags on

The Paycheck Protection Program will wind down Tuesday with $US134 billion in unspent business relief. Congress is debating how to further aid the economy as it reels from record unemployment and a surge in new coronavirus cases. Members of the Trump administration, including Treasury Secretary Steven Mnuchin, have said they […]
Emergency coronavirus loans for small businesses are ending with $134 billion leftover — and there’s little economic relief in sight as the pandemic drags on
News

Here’s Tesla’s pitch to get millions in tax rebates from Texas in exchange for building its new Cybertruck factory in Austin — and why some residents don’t want it

Tesla’s newest factory could likely be headed for Austin, Texas. While Tesla hasn’t Tesla announced its final decision, it proposed a 5 million square foot plant in Austin that would eventually produce its much-hyped Cybertruck and result in about 5,000 jobs in the area. But in a heated public meeting, […]
Here’s Tesla’s pitch to get millions in tax rebates from Texas in exchange for building its new Cybertruck factory in Austin — and why some residents don’t want it
News

Walmart workers get another bonus applied to their paychecks for working amid the coronavirus pandemic

Walmart’s hourly employees, managers, and drivers received their second batch of bonus payments Thursday totaling $US390 million. Employees received the payments as COVID-19 cases spike in states across the country. Walmart’s second bonus also comes as other companies roll-back coronavirus related pay bumps. Visit Business Insider’s homepage for more stories. […]
Walmart workers get another bonus applied to their paychecks for working amid the coronavirus pandemic
Tech

Softbank-backed Lemonade wants to raise up to $286 million in an IPO — valuing the ‘insurtech’ firm at about 25% less than its latest funding round

Lemonade, which filed to go public earlier in June, announced on Thursday a price range of $US23 to $US26 for its public offering. The updated regulatory filing could mean a significant valuation hit for the insurtech firm. Japan’s SoftBank holds a significant stake in the money-losing company, and is hoping […]
Softbank-backed Lemonade wants to raise up to $286 million in an IPO — valuing the ‘insurtech’ firm at about 25% less than its latest funding round