Author: Editor

Domenica Graci, the CEO and Founder of travel agency One Luxury, is seen wearing a golden Vintage Alhambra bracelet from Van Cleef & Arpels, a golden Love bracelet from Cartier, a golden Juste un Clou nail bracelet from Cartier and an Essential Lines bracelet from Cartier.Moritz Scholz | Getty Images Entertainment | Getty ImagesLuxury retail was expected to stage a turnaround in 2025 after a promising fourth quarter marked by holiday shopping and post-election euphoria. Instead, U.S. credit card spending on luxury goods fell during the first five months of the year compared with the same period in 2024, according…

Hank Faber grips the handle of his 2009 Volvo with the practiced ease of a trucker who’s maybe spent more time on the road than off it. He adjusts the seat, checks the mirrors, and starts the engine. For Faber, this truck isn’t just transportation — it’s the reason he can keep paying the bills.Faber and his wife live paycheck-to-paycheck on his trucking income, their Social Security, and his wife’s IRAs.”I should be retired at my age,” said Faber, who was 77 at the time of his interview with Business Insider in late 2024.However, being self-employed most of his career,…

Recent college graduate Amrita Bhasin wants to own property badly.She was inspired by her parents, immigrants from England and India who bought a property in the late ’90s in Menlo Park, California, which is part of Silicon Valley.Bhasin declined to share what her parents paid for their San Francisco area property, but according to SiliconValleyMLS.com, the median price for a home in Menlo Park in 1998 was $595,000. Today, the median price of a home in that neighborhood is $3.35 million.”I think that made me realize that having property is the biggest asset you can have,” Bhasin told Business Insider.Bhasin,…

This as-told-to essay is based on a conversation with Kristin Lewis, senior vice president of product at Aura, a company with a suite of products intended to help people stay safe online. It has been edited for length and clarity.A lot of my work is about simplifying online safety, so I used to be pretty confident in my ability to keep my kids safe online. Then, my son made a purchase online that showed me keeping kids safe isn’t so simple, even for an expert.My sons are young — they’re 5 and 8 now — and they don’t have their…

This as-told-to essay is based on a conversation with Tom Liravongsa, or Tom the Skyscraper Guy, a real estate investor who purchased the majority of the Pittsfield Building, a 38-story skyscraper in Chicago that has been partially vacant for nearly a decade. Liravongsa is turning the former office building into residences. The building was built in 1927 and landmarked in 2002. The conversations have been edited for length and clarity.This building has quite a history.It’s been in disarray for over a decade, and if you dive into the real history of it, it’s gone through so much turmoil.We knew that…

During a Morgan Stanley hackathon at the end of 2023, two teams were trying to solve a problem that has plagued developers for years: how to rewrite legacy code into modern programming languages.Those nuggets of an idea turned into DevGen.AI, a tool the bank unveiled in January that has so far saved developers more than 280,000 hours as of June, or 11,666 days they would have previously dedicated to deciphering outdated code, said Trevor Brosnan, the bank’s global head of technology strategy, architecture, and modernization. Brosnan led the effort to build the tool, which turns code from old languages into…

Ray Dalio, the founder and former CEO of hedge fund Bridgewater Associates, said on Monday that Republicans and Democrats don’t have the political will to reduce the country’s national debt.”There is no way that the deficit/debt bomb problem can be sustainably dealt with unless there is a mix of tax revenue increases and spending decreases that are determined in a bipartisan way,” Dalio wrote in an X post on June 30.Dalio said in his post that both Republicans and Democrats know they have to cut the deficit by raising taxes and cutting spending. This “would lead to a supply/demand balance…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. The best headline we’ve seen in a while was in the FT yesterday: “South Korea lifts 14-year ban on ‘kimchi bonds’ after dollar-backed stablecoins frenzy”. As we argued (yet again) yesterday, there is nothing innocuous about stablecoins. Creating new kinds of money — even money backed…

A Federal Reserve leader thinks that fears of stagflation are overblown.Speaking at the Aspen Ideas Festival in Colorado, the president of the Federal Reserve Bank of Chicago, Austan Goolsbee, pushed back on concerns that recent supply-side shocks, like tariffs and global military conflicts, could trigger a return to an era of double-digit inflation and sky-high joblessness.Goolsbee said that with unemployment near 4% and inflation around 2.5% and falling, he sees no possibility that tariffs or another supply-side shock could cause actual 1970s-style stagflation in the near term, referring to a time when inflation topped 13% and unemployment exceeded 8%.”There’s definitely…

In the 1970s, Paul and Ellen Eggers taught in Malaysia as volunteers with the US Peace Corps.The experience left a lasting impression, and decades later, as they prepared to retire from their jobs as college professors in California, they decided to return.”I had read an article in Forbes Magazine about people retiring overseas,” Ellen, now 70, told Business Insider. “We hadn’t really thought a lot about it before, but then one of the places that was listed as very popular and very affordable was Penang in Malaysia.”They were familiar with the Southeast Asian country, having returned for vacations over the…