Deloitte will stop covering GLP-1 drugs prescribed for weight loss from January, while raising deductibles and out-of-pocket maximums under most US health plans. The changes, detailed in an internal benefits guide seen by Business Insider, come as employers face rising healthcare costs.
San Francisco’s hacker houses have helped produce startups such as Perplexity and OpenRouter, but outside investors have typically captured much of the financial upside. Now some of those communities are raising their own funds, hoping to back founders early—before fast-rising AI companies become expensive bets.
Nvidia shares have dropped nearly 10% since reports about CEO Jensen Huang’s personal life, but investor Michael Burry says the controversy may not seriously damage the company’s business. He remains bearish, warning that the episode could hasten a loss of Nvidia’s competitive edge and draw greater scrutiny from US authorities.
Venmo has added a receipt-scanning tool that identifies items and calculates each diner’s share of tax and tip. In a test at a New York City lunch spot, the feature matched Splitwise’s totals and let the tester request repayment without leaving Venmo; it did not make one colleague pay any faster.
At Camp Canine in Toronto, a dog daycare, walking and grooming business, owner Alexis Berger needs payments to keep pace with a team on the move. A wireless Chase Payment Solutions Canada terminal lets staff take payments while handing over dogs and leashes, making it easier for clients to tap, she said.
Shaquille O’Neal says a financial safety net he set up years ago is expected to begin paying him about $1 million a month when he turns 55 next spring. The former NBA star said he bought annuities to secure income in case his investments failed.
From mahjong tables to ski slopes, Wall Street’s rising stars are using hobbies to build client relationships, fit networking into tight schedules and find time away from work. Their choices range from new sports and wine tastings to early-morning workouts and running.
Berkshire Hathaway’s latest quarterly results showed little change in its restrained approach to stock trading, even after Greg Abel took over as chief executive. The company was a net seller in the third quarter, while stepping up share buybacks and reporting lower operating income.
Hedge funds across several strategies suffered a bruising October, with losses and staff departures reaching multi-strategy firms, macro traders and credit desks. The pressure has renewed questions about the industry’s high-stakes talent culture, as volatile markets and steep annual portfolio-manager turnover leave little room for a prolonged slump.
A sharp drop in US technology shares on Thursday prompted a wave of jokes online, as investors and financial commentators found humor in a market rout driven partly by worries over AI and data-center growth. The Nasdaq fell into correction territory, while losses also hit the S&P 500 and Dow.
The nine wealthiest technology executives lost a combined $152 billion on Thursday as investors dumped AI and chip stocks. Elon Musk accounted for about $80 billion of the decline, while the Nasdaq 100 fell more than 6% in its worst session since the COVID-19 pandemic.
After a big-box retailer failed to pay his construction company, Chris Long was left with land, little cash and two years to make a storage-yard idea work. The Ottawa carpenter opened his first site in 2019 with no tenants and just weeks to fill it before winter.
A networking change requested by Microsoft has delayed commissioning at IREN’s data center project in Childress, Texas, the Nvidia-backed cloud provider said Thursday. The company now expects to reach $4 billion in annual recurring revenue from operations in January or February, instead of its earlier year-end target.
Goldman Sachs promoted 109 executives to partner, its largest class since 2010, with new appointments taking effect in January. The group is 15% larger than the 95 executives promoted in 2024 and reflects a growing emphasis on engineering and technology, the bank said.
After losing 5.9% in October, Walleye Capital is restructuring its internal stock-picking operation, parting ways with equity long-short head Anil Gondi and what CEO Will England called a “substantial portion” of the investment teams.
At SALT London on Wednesday, investors’ conversations ranged from whether the AI boom is nearing a bust to whether the technology will create jobs as well as displace them. Speakers also weighed in on Elon Musk’s ambitions, cybersecurity and the infrastructure required to support AI.
After a sweeping Democratic victory on Tuesday, venture capitalists who publicly backed MAGA faced questions about the political wager and its costs for the tech industry. Reid Hoffman said voters’ rejection of the status quo should prompt VCs to reconsider how Americans are experiencing the economy.
Elon Musk’s fortune fell by $33 billion on Wednesday after Tesla and SpaceX shares dropped, but he remained $490 billion wealthier than the next person on Bloomberg’s ranking. At the close, the billionaire’s net worth stood at $865 billion, compared with Jeff Bezos’ $375 billion.
Social Security’s reserves are projected to run out by 2032, potentially cutting benefits by about 22% just as the incoming Senate begins its six-year terms. The 35 senators elected Tuesday will face pressure to address the funding gap, which could mean nearly $17,000 less annual income for a recently retired dual-income couple starting in 2033.
California voters are heading to the polls today to decide the fate of Proposition 40, a contentious ballot measure that would impose a 5% tax on assets held by the state’s wealthiest residents. The result of this vote threatens to reshape the financial landscape for Silicon Valley’s elite.
Ken Griffin’s $77 billion Citadel hedge fund posted a 1.7% gain in October, defying a turbulent month that saw the S&P 500 slide nearly 1%. While peers struggled to navigate shifting tech valuations and geopolitical volatility, the Miami-based firm pushed its year-to-date returns to 15.3%.
Can we really fool ourselves into thinking we know what a company like Anthropic will do five years from now? Howard Marks, co-founder of Oaktree Capital Management, believes the rapid, unpredictable nature of artificial intelligence makes traditional earnings-based valuation models nearly impossible to apply to the sector’s high-flying newcomers.
Amid an unprecedented surge in artificial intelligence infrastructure spending and shifting geopolitical tides, a new generation of financiers is rewriting the industry’s playbook. Business Insider’s 10th annual class of Rising Stars highlights 25 professionals under 35 who are orchestrating the most consequential deals in modern global markets.
With the oldest members of Generation X entering their 60s, only 18% of the cohort express confidence in achieving a comfortable retirement. A widening gulf between current savings and projected needs, compounded by late-career job instability and caregiving responsibilities, has forced many to abandon traditional exit timelines.
When Johnston Osagie learned he was going to be a father at 31, the prospect of spending another decade chasing a corporate paycheck lost its luster. Having hit a $350,000 savings goal, the former Amazon finance manager walked away from his career to trade Tennessee life for full-time parenthood in Cuenca.
A massive $6.3 billion security breach at Binance has triggered market instability and a high-profile digital clash between the exchange’s cofounder, Changpeng Zhao, and Elon Musk. As Binance struggles to contain the fallout from the sophisticated hack, the exchange executive’s plea for decorum was met with further mockery from the billionaire.
“Bill, I haven't had water in 48 years,” Warren Buffett once told hedge fund manager Bill Ackman. The revelation came during a dinner at Ackman’s home, where the billionaire investor politely declined a glass of water in favor of his signature Cherry Coke, a beverage preference he has maintained for half a century.
After a long period of riding high-flying tech stocks, hedge fund managers are abandoning broad macro bets in favor of granular, fundamental research. With the momentum trade cooling, firms are increasingly turning to short-selling and niche industry analysis to protect capital and justify their fees in a volatile market.
When John Santora took the helm of WeWork in 2024, he inherited a company reeling from a disastrous bankruptcy and a reputation for chaotic leadership. Trading the Silicon Valley visionary persona for a disciplined, suit-and-tie approach, the former Cushman & Wakefield executive began his tenure by banning slippers and pajamas in the office.
After dominating Latin American finance, Nubank is betting that its credit-first strategy can crack the notoriously difficult US banking sector. Co-founder and CEO Cristina Junqueira confirmed the firm has opened a US branch, aiming to replicate the success of its low-cost, digital-only model despite a history of foreign failures.
