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Today β€” 4 March 2025Latest News

Trump is delivering a joint address to Congress tonight. Here's what to know about the president's speech.

Donald Trump clapping
Trump is addressing Congress for the first time in more than five years β€” the last time was his final State of the Union.

Mario Tama/Getty Images

  • Trump is delivering an address to a joint session of Congress tonight.
  • He's likely to address tariffs, DOGE, taxes, and more.
  • It's not officially a State of the Union speech, but it's very similar.

President Donald Trump is set to address Congress for the first time in more than five years on Tuesday night at 9 p.m.

Trump will have much to talk about, including the 25% tariffs on Mexican and Canadian goods that began on Tuesday. Elon Musk, the de facto head of the White House DOGE office, will also be there. So will former federal workers who Musk has helped fire, invited as guests by Democratic lawmakers.

It's a State of the Union address in all but name β€” technically, in the president's first year, it's just a joint address to Congress.

The last time Trump was in the House chamber was during the final year of his first time, when he delivered his final State of the Union address on the eve of the Senate acquitting him in his first impeachment trial.

Then came the COVID-19 pandemic, the January 6 insurrection, the Biden administration, and Trump's improbable political comeback.

Trump's speech could last up to two hours, according to White House press guidance. He's likely to address trade, the state of the economy, artificial intelligence, the war in Ukraine, and DOGE.

As is often the case with Trump, it's possible the president goes off-script.

This story will be updated with new details from Trump's address when it begins.

Read the original article on Business Insider

Her mom immigrated to the US. After grad school, she did the opposite — and left California for Thailand.

4 March 2025 at 16:14
A woman working remotely.
Phillips is on the Destination Thailand Visa.

Katherine Phillips

  • Katherine Phillips was burned out, so she left San Diego and moved to Chiang Mai, Thailand, in 2019.
  • She works remotely on a Destination Thailand Visa and lives in a $340-a-month apartment.
  • She says her life has slowed down since moving to Chiang Mai and it's done wonders for her mental health.

Katherine Phillips, 32, had never been toΒ Chiang Mai, Thailand,Β before she moved there on her own in 2019.

Phillips, who grew up in San Diego, always dreamed of traveling around Asia. Her mother is from the Philippines, and while she's been to Manila multiple times to visit family over the years, she never got the chance to explore the rest of Southeast Asia.

After finishing grad school and getting her master's in counseling, she was ready to take a break.

"I was really burned out," Phillips told Business Insider. "It was a lot of 15-hour days."

A woman posing on a bridge.
Katherine Phillips left San Diego, where she had lived her whole life, in 2019 to move to Chiang Mai, Thailand.

Katherine Phillips

While she was keen on the idea of taking a gap year to travel, she also wanted to make sure she had some income.

When she stumbled upon a job listing for a one-year counseling position at a private international school in Chiang Mai, she decided to go for it.

Why Chiang Mai?

Chiang Mai is about 450 miles north of Bangkok and has long been a popular destination for tourists and expats alike, in part due to its relatively low cost of living.

Phillips says Chiang Mai caught her attention because it frequently came up on lists of popular destinations for digital nomads and expats. It felt like a safe place to live.

Her parents were shocked when she first told them about her plans to move abroad.

"I've always done everything by the books. And this was the first time I was like, 'I'm going to leave the country,'" she said. "They were like, 'You couldn't have just gone to a different state? You had to go to a whole other country?'"

While they were supportive, they were also worried because they couldn't quite understand why she wanted to do it.

"My mom immigrated to the States when she was 18 or 19. She came here and created this really amazing life for herself. And then I, on the other hand, wanted to do the opposite and leave the States," Phillips said.

A woman working remotely.
Phillips is on the Destination Thailand Visa.

Katherine Phillips

Her parents have always been somewhat traditional, she said: "You get the degrees, you climb the corporate ladder, that kind of thing, and I was not for that at all."

The school helped Phillips with her visa application, and she stayed in her job there for two years.

When the pandemic started, everything moved online, including her counseling sessions, and she could feel herself starting to burn out again.

"It just started to not feel fulfilling anymore, and I felt like I was doing a disservice. I don't want to show up every day miserable," Phillips said.

The living area.
Phillips moved into a one-bedroom apartment near Nimman, a popular district in Chiang Mai.

Katherine Phillips

After she left her job, she got an education visa and enrolled in a university to learn Thai.

Now, she works remotely for a marketing agency. She has a Destination Thailand Visa, which was introduced last year and can be used by digital nomads and remote workers.

In November 2022, Phillips moved into a one-bedroom apartment near Nimman, a trendy district popular with tourists and expats. Her rent is 11,500 Thai baht, or about $340, a month. It's her third apartment in Chiang Mai.

The view from the balcony.
Her apartment costs 11,500 Thai baht, or about $340, a month.

Katherine Phillips

The 550-square-foot apartment has an open floor plan, two balconies, and a washing machine.

Better mental health, more free time

In recent years, Chiang Mai has become a popular choice for people around the world looking to relocate.

Data from the Bureau of Registration Administration of Thailand indicates that 163,036 foreigners were living in Chiang Mai province as of December 31.

Several people who moved to Chiang Mai previously told BI they were drawn to the area's low costs and laid-back lifestyle.

Johnny Ward, a travel blogger, previously told BI he managed to build his dream "James Bond" villa in Chian Mai for about $600,000. Fred Jones, a retired cop from Florida, previously told BI that life in Chiang Mai is cheaper, safer, and less stressful than back in the US.

Living in Chiang Mai has done wonders for her mental health, and she has more control over her time now. That's partially due to the nature of her work, which is more flexible and project-based.

"I have time for hobbies now. What is that? Because that never happens in the States," she said with a laugh. Now, she gets to do creative things, like learn how to dance the salsa and the bachata, as well as make videos on YouTube and TikTok.

That said, her journey wasn't without its challenges. There was a language barrier, and it took Phillips some time to get used to the food in Chiang Mai, which was more spicy than back in the US.

A woman by the beach.
She says she now has more free time for hobbies, including traveling. This photo was taken on a trip to Koh Phangan, an island in southern Thailand.

Katherine Phillips

She added that there was also a part of her that felt like she was missing out on things that were happening back in the States.

However, now that she's been living in Chiang Mai for so long, she says she doesn't see herself moving back to the US.

"I honestly feel safer than I do in the States sometimes," she said. "I feel like everyone looks out for each other."

Ultimately, she's glad she took the plunge to make the move.

"You can always go back to your 9-to-5, to your life in the States, but I think it's worth just experiencing it at least once, to try it out and see," she said.

Do you have a story to share about moving to a new country? Contact this reporter at [email protected].

Read the original article on Business Insider

Trump asks federal courts to clear his criminal record. Meanwhile, his NJ liquor licenses remain at risk of revocation.

4 March 2025 at 15:40
Donald Trump
President Donald Trump's lawyers are trying again to clear his criminal record.

Jim WATSON / AFP

  • Trump still faces potential revocation of his NJ liquor licenses due to his hush-money conviction.
  • His lawyers now want the federal courts to take control of his state appeal of the hush-money case.
  • NJ officials tell BI that a license revocation hearing remains pending, though no date is set.

Lawyers for President Trump took the unusual step this week of asking a federal appellate court in Manhattan to take control of the state appeal of his New York hush-money conviction.

The hush-money case is "extraordinary" and relied on now-exempt official, presidential acts to reach a guilty verdict, Trump's lawyers wrote in asking that the state appeal be moved to the federal court system.

US law allows such a state-to-federal transfer, but almost only in cases that are pretrial. For judges to approve, a defendant must invoke a federal defense such as presidential immunity, and must establish that the alleged criminal conduct arose from official federal acts, his lawyers argued in a 40-page brief.

"This prosecution of President Trump, which never should have been brought, checks both boxes," they wrote.

The brief was filed Monday with the intermediate-level Second Circuit Court of Appeals. It was signed by attorney Robert J. Giuffra, Jr.

In the 10 months since his conviction, Trump has fought hard in no fewer than four courts to clear his criminal record.

So long as the conviction remains on his record, at least two of Trump's three New Jersey liquor licenses β€” for his golf courses at the Trump National Golf Club in Colts Neck and the Trump National Golf Club in Bedminster, remain in jeopardy.

On Tuesday, a spokesperson with the New Jersey attorney general's office told Business Insider that revocation hearings on those golf club licenses remain pending, though no date has been set.

New Jersey law requires revocation if someone who holds or is the primary beneficiary of a liquor license has a felony conviction.

Although the three clubs' liquor licenses are in Donald Trump, Jr.'s, name, the elder Trump remains the primary financial beneficiary of the licenses through the Donald J. Trump Revocable Trust, the spokesperson said.

The Colts Neck and Bedminster clubs are selling liquor under provisional licenses; the license for Trump's third New Jersey club, the Trump National Golf Club Philadelphia in Pine Hill, expires in June.

A Manhattan jury in May convicted Trump of 34 felony counts.

The jury found that throughout 2017, his first year in office, Trump conspired with his top executives to falsify Trump Organization records to retroactively hide a $130,000 hush-money payment that had silenced porn actress Stormy Daniels 11 days before the 2016 election.

Monday's brief came in response to an older and far more narrow question β€” whether a federal judge erred in July 2023 when he rejected one of Trump's pre-trial efforts to move the case to federal court.

Trump had argued in that case that the hush-money matter "involves important federal questions" because he was president at the time prosecutors say the records were falsified.

US District Court Judge Alvin K. Hellerstein disagreed, sending it back to state court for trial. Hellerstein found that Trump failed to demonstrate that the conduct he was actually charged with β€” falsifying business records to hide a hush-money payment β€” related to any official acts as president.

Prosecutors with the office of District Attorney Alvin Bragg have yet to respond to Monday's brief, and did not immediately respond to a request for comment. In September they filed a brief arguing that Trump's efforts to move the case have come too late. In January they filed notice that they are willing to appear in court and participate in oral arguments before the appellate panel.

Read the original article on Business Insider

Goldman Sachs' annual culling of underperformers is coming earlier than usual this year

4 March 2025 at 14:54
People mill about at 200 West Street
Goldman's HQ at 200 West Street

Momo Takahashi/BI

  • Goldman Sachs is moving its annual headcount-cutting ritual from fall to spring this year.
  • Reports suggested between 3% to 5% of Goldman's employees could be at risk.
  • The bank is eyeing its vice-president ranks for cuts, BI has learned.

Goldman Sachs is moving its annual headcount-cutting ritual from fall to spring this year and will be zooming in on a key constituency for trims: its cohort of vice presidents.

The cuts are part of what is known inside Goldman as the annual Strategic Resource Assessment, or SRA, a process the bank has used to cull underperformers that has taken place in the fall in recent years.

"Like other banks, this is part of our normal, annual talent management process," a spokesperson for the bank said in a statement. "We don't comment on the specifics in any given year."

A key target of this year's cuts will be vice presidents, according to a recently departed Goldman employee who requested anonymity to freely discuss company matters. VPs are a rank of executives who sit above associates and below managing directors.

This person said executives at the bank had discussed either trimming or transferring some of the bank's VPs to other offices to save money as recently as the fourth quarter, adding that the VP population at Goldman had become so bloated in recent years that VPs were increasingly reporting to other VPs instead of managing directors.

The spring timetable and focus on vice presidents was first reported by the Wall Street Journal on Tuesday.

In a January call with investors, CEO David Solomon addressed plans to cut costs over the next three years.

"Operating efficiency remains one of our key strategic objectives," he said. "We have established a three-year program as a part of our business planning process that will help us dynamically manage our expense base, harness technology and automation and reinvest in our businesses."

Solomon also said in the January earnings call that the firm is "optimizing our organizational footprint by expanding our presence in strategic locations." One of those experiencing the most growth is the company's site in Dallas, Texas β€” which is on track to increase from its current headcount of about 4,600 employees to 5,000 by the time it opens a $500 million state-of-the-art campus in 2028.

Every year, Goldman looks for ways to reduce its bottom performers through the SRA. As BI previously reported, Goldman has, in years past, used the benchmark of roughly 5% of staff as a target.

While Goldman hasn't disclosed a goal for this year's SRA, WSJ said Goldman is eyeing a trim of between 3% to 5% of staff this year. As of its latest tally, the firm ended 2024 with about 46,500 employees. Cuts of 3% to 5% would suggest layoffs of between 1,395 and 2,325 positions.

Goldman's 360-degree annual performance review plays a role in job cuts: Employees are rated by peers and managers on factors like risk management and teamwork, BI has previously reported.

The bottom 10% of performers are typically the most vulnerable to being cut. Employees described the review process as stressful and time-intensive, requiring them to solicit feedback and complete evaluations outside work hours.

Reed Alexander is a correspondent at Business Insider covering Wall Street and financial-services institutions. He can be reached via email at [email protected], or SMS/the encrypted app Signal at (561) 247-5758.

Read the original article on Business Insider

Canada, Mexico, and China respond to US tariffs

4 March 2025 at 14:37

After a monthlong delay, President Donald Trump announced new tariffs on Mexico, Canada, and China. These countries are fighting back with Canadian Prime Minister Justin Trudeau calling these tariffs "very dumb."

Read the original article on Business Insider

These are the 5 critical technologies the US needs to fight future wars, a top defense lawmaker says

4 March 2025 at 14:23
A Ukrainian drone operator catches a drone after using it during a training exercise.
Drones and counter-drone systems were a highlighted area of interest for future investment.

Andriy Andriyenko/SOPA Images/LightRocket via Getty Images

  • A top lawmaker identified the five capabilities he believes the US military needs to innovate in.
  • Those areas are missiles, missile defenses, drones, counter-drone systems, and secure comms, Rep. Smith said.
  • Special operations forces lead the charge on experimenting with some of those, he added.

There are five critical technologies needed to fight future wars, a top lawmaker on military and defense matters said recently.

Those areas are missiles, missile defenses, drones, counter-drone systems, and secure communications, Rep. Adam Smith, a Washington Democrat and the ranking member of the US House Armed Services Committee, said at a recent symposium in Washington, DC. He said these are the areas where the US needs to innovate and develop game-changing capabilities.

Having the best weapons within those areas, he said, is key to winning future wars. The war in Ukraine is showing just how crucial these capabilities are.

Smith pointed out that the development of countermeasures demands a constant cycle of modifying these systems. That's been seen especially in the mass use of electronic warfare to jam drones; in response, both sides of the war have developed ways to evade frequency jamming.

Beyond drones and counter-drone tech, the importance of missiles and missile defense are increasingly hot topics among military leaders as US rivals and adversaries, from Russia and China to Iran and North Korea, invest in missiles.

The US has seen interceptor stocks strained by Iranian bombardments and lower-end threats like the Houthis in Yemen, who terrorized ships in and around the Red Sea. In a great-power conflict, such as a potential war with China in the Indo-Pacific region, air defenses could be more critical to shield naval bases, air bases, and other installations, as well as ships.

The US military is also developing and fielding certain offensive missile capabilities, like the Typhon Mid-Range Capability, which is a land-based launch option for Tomahawk cruise missiles, and hypersonic missile systems.

A member of U.S. Naval Special Warfare Task Unit Europe (NSWTU-E) provides cover during a raid with Cypriot Army Special Forces in Cyprus, September 28, 2021.
SOF is undergoing a pivot from focusing on counterterrorism to great power competition.

U.S. Army Photo by Sgt. Patrik Orcutt

Likewise, another key development area has been secure communications and assured navigation. Vulnerabilities in these spaces can be costly in a high-end fight.

For the US military, special operations forces can be seen leading the way in innovative iteration. "They're going to iterating on a day-in and day-out basis, and we need to learn from that and expand it," Smith said at the National Defense Industrial Association US Special Operations Symposium.

US special operators testing out uncrewed systems in different environments against different threats, for example, are at the front lines of figuring out what could be needed for a future fight.

They are often among the first to get their hands on new technologies, and they work closely with the defense industry to develop new systems, leading to real-time adaptations and rapid evolutions.

As special operations leadership said at the recent symposium, operators are going to need cheaper, more expendable weapons, like drones, in a potential future fight.

While this doesn't mean that other systems β€” such as F-35 Joint Strike Fighters or Ford-class aircraft carriers β€” aren't needed, it does raise questions about where the US Department of Defense's priorities are.

"We are spending a ton of money at DoD right now that isn't in those five things," Smith said.

Ukrainian soldiers test a drone equipped with a grenade at a training ground on September 25 in Druzhkivka, Ukraine.
First-person view, or FPV, drones like the one above have dominated the battlefield in Ukraine.

Photo by Pierre Crom/Getty Images

The Pentagon is reshuffling the Defense Department's budget. It is still a bit murky, with submarines being among the few clearly articulated priorities, but it's moving roughly $50 billion from legacy programs to new priorities, which do appear to include missile defense and drone-related technologies.

Big challenges for the department in fielding new capabilities can be contracting issues and slow acquisition processes.

Military officials and industry partners at the NDIA special operations symposium spoke about the challenges facing the US military's acquisition process, including requirement and funding hurdles that have hindered the adoption of new weapons and capabilities.

Some speakers highlighted the agile and flexible acquisition process used by US special operations forces as a model for how the Department of Defense can better implement new technologies, especially drones and other uncrewed systems. They said that having a process able to produce a variety of systems could be vital in a longer, protracted conflict.

Others noted that a future, high-speed, highly digitized war could be even more demanding with the rise of artificial intelligence and autonomous systems. Questions were raised, too, about whether decision-making will occur at such a pace that humans can't keep up. The technological space is evolving fast.

Read the original article on Business Insider

Dolly Parton told us her love language with husband Carl Dean was food — from Taco Bell to homemade fried chicken

4 March 2025 at 14:21
Dolly Parton and Carl Dean.
Dolly Parton and her husband, Carl Dean, were together for over six decades.

Dolly Parton/Instagram

  • Dolly Parton's husband, Carl Dean, died on Monday at the age of 82.
  • Parton and Dean had been together for over 60 years.
  • In previous interviews with BI, Parton revealed the dishes she loved to cook and share with Dean.

Dolly Parton has always used music to express love to her many fans, but whenever she came home to her husband, Carl Dean, food was their true love language.

On Monday, Parton announced that Dean had died at the age of 82, writing in anΒ Instagram statement that "words can't do justice to the love we shared for over 60 years."

From Taco Bell to homemade fried chicken, Parton and her husband shared countless dishes in their six decades together. We looked back at some of our past interviews with Parton and the stories she shared about the couple's love for food.

Fast food and humble beginnings

Parton and Dean first locked eyes outside a laundromat on the very first day she moved to Nashville in 1964.

"I was surprised and delighted that while he talked to me, he looked at my face (a rare thing for me)," Parton wrote on her official website. "He seemed to be genuinely interested in finding out who I was and what I was about."

Parton made just as much of an impression on Dean, who once told Entertainment Tonight that his first thought when they met was, "I'm gonna marry that girl."

"My second thought was, 'Lord, she's good lookin','" he recalled. "And that was the day my life began."

Dolly Parton Carl Dean
An old photo of Parton and Carl Dean that was shared on her official website.

DollyParton.com

In her 2024 cookbook "Good Lookin' Cookin'," Parton shared memories of those early years with Dean, including Christmases before she became the queen of country music.

"Dolly and Carl couldn't afford anything more than a tiny silver tree that sat on their coffee table and a candle placed in the living room window," one passage reads.

Parton accumulated a net worth of $450 million, but she and Dean never stopped loving their fast-food dinners together.

"We love to just get out in that little camper of ours and drive through restaurants," she told Business Insider in 2022. "I love to get a good burger and french fries on the highway like everybody else, and we go get hot doughnuts now and then. It depends on what we're in the mood for. Whether it's tacos or burgers or whatever, we can go get it!"

Parton told BI that she and Carl Dean were big fans of Taco Bell, where she'd always get the same thing:

  • Taco Supreme
  • Mexican Pizza
  • Rice and beans
  • Mild sauce

Weekends filled with Southern cuisine

Dolly Parton
Parton loved making classic Southern dishes for her husband, Carl Dean.

Chris Walter/Getty Images

Parton told BI that she loved cooking delicious feasts with classic Southern dishes for her husband on weekends.

"Sometimes on Saturdays, I'll think, 'Well, I need to make a big ol' lunch for him,'" she recalled with a laugh. "Where there's pinto beans and corn bread and things like that."

Parton's skillet corn bread couldn't be easier; all you need is:

  • 2 cups of self-rising cornmeal (she recommends Martha White or White Lily)
  • 1-1 Β½ cups of buttermilk
  • 2 teaspoons of bacon drippings, plus extra for the skillet
  • 1 teaspoon of salt

Whenever the couple wanted something lighter, Parton would whip up omelets, scrambled eggs (she has a trick for making them perfectly fluffy), or Dean's favorite broccoli salad, which features:

  • 8 cups of broccoli florets
  • 6 slices of bacon
  • 1 sweet onion
  • Β½ cup of raisins
  • Β½ cup of chopped raw pecans

And, for the dressing:

  • 1 cup of mayonnaise
  • 2 tablespoons of apple cider vinegar
  • 3 tablespoons of powdered sugar
  • 1 teaspoon of salt and 1 teaspoon of pepper

Nothing says love like homemade fried chicken

Dolly Parton poses in the kitchen wearing a pink blazer with yellow butterflies. There are cakes and Duncan Hines Dolly baking mixes on the counter.
Dolly Parton said she loved making her husband corn bread, fried chicken, and more.

JB Rowland

When we asked Parton to share the one dish everyone should make for a successful marriage, she replied: "You can't go wrong with fried chicken."

"I think everybody should really know how to make good fried chicken," Parton added. "No matter where people come from, they love good fried chicken. So you need to make good fried chicken!"

Parton and her sister, Rachel Parton George, include tips for making great fried chicken in their "Good Lookin' Cookin'" cookbook:

  • Marinate the chicken overnight before frying for best results
  • The marinade should include buttermilk, eggs, onion, garlic, and Tabasco
  • For the breading, use all-purpose flour, cornstarch, salt, rosemary, and thyme
  • Add chicken fat from the skillet to your gravy

Parton said Dean was also a huge fan of her chicken and dumplings, as well as pork chop with green peas and her mashed potatoes.

"That's one of my husband's favorites," Parton told BI. "But he likes all my cooking."

In her cookbook, Parton also wrote that food allows us to keep people "near us in our memories" because "we're honoring them through food that they loved or shared with us."

"Through the years β€” good times and hard β€” food and family have sustained us," she added.

Read the original article on Business Insider

DOGE deleted another $4 billion from its 'wall of receipts'

4 March 2025 at 13:56
Elon Musk sitting in a chair
Β 

Andrew Harnik/Getty Images

  • The White House DOGE Office walked back $4 billion in claimed savings on its website.
  • The group has made similar errors before, like when it lowered its savings by $9 billion in 2 days.
  • Since the website doesn't provide details for all claimed savings, other totals are hard to verify.

The White House DOGE Office has slashed another $4 billion β€” from its own list of savings, not the federal budget.

On Sunday evening, the group deleted or changed upwards of 1,000 contracts that it said it had canceled, according to the New York Times. Together, the alterations accounted for more than 40% of the contracts that the White House DOGE Office had listed on its website the week prior.

Business Insider previously reported that the group lowered its claimed savings by more than $9 billion in a two-day period last month. In February, it had claimed savings on its website of $16.5 billion, mainly in canceled contracts. By March 4, that number was down to around $8 billion, according to the site's "Wall of Receipts," which lists canceled contracts.

A few contracts account for a significant chunk of the changes β€” for example, the site had said that canceling an Internal Revenue Service contract saved $1.9 billion, per the Times. Really, the outlet found that contract had been canceled in November. The same was true of the White House DOGE Office's earlier accounting snafus, when it claimed to save around $2 billion by cancelling three USAID deals, before deleting two of the entries and with them $1.3 billion in savings.

The website now says the group has saved $105 billion in total but does not list details for savings other than contracts, like the names of terminated grants or buildings with cancelled leases, making the total difficult to verify.

The White House DOGE office has repeatedly tempered expectations. Elon Musk, the group's de facto leader, initially said he'd help cut $2 trillion from the federal budget, before scaling the expectation back to $1 trillion. And earlier today, an agency quietly edited a key memo related to Musk's efforts to remake the federal workforce after a court ruling.

Representatives for the Trump administration and White House DOGE Office did not respond to BI's request for comment.

Read the original article on Business Insider

Meghan Markle can make her Martha Stewart era a success — but she shouldn't try to be relatable, PR pros say

4 March 2025 at 13:23
A photo of Meghan Markle in a kitchen.
Meghan Markle on Netflix's "With Love, Meghan."

Netflix

  • Meghan Markle's Netflix show dropped on Tuesday, and she is launching a lifestyle brand this spring.
  • It might be difficult for Meghan to stand out and seem relatable in the lifestyle industry.
  • PR and branding experts said leveraging her royal status may help Meghan find success.

Say hello to the new Meghan Markle β€” again.

On Tuesday, "With Love, Meghan" dropped on Netflix. In the first episode alone, the Duchess of Sussex explained how to make a bath salt kit, shared a hack for making homemade popcorn in a paper bag, harvested honey from her personal hive, and made candles with the leftover wax.

The lifestyle series presents Meghan as a jack of all trades when it comes to hosting and homemaking, complementing her lifestyle brand, As Ever. The brand's first product line will be available later this spring. On Tuesday, Meghan revealed As Ever's offerings will include spreads, teas, crepe and cookie mixes, and flower petal sprinkles, which she often uses on "With Love, Meghan."

These new ventures won't surprise longtime fans who have followed Meghan since her scrappy blogging days, but it's also no secret that critics are primed to critique these latest moves. Add in the pressure of entering the oversaturated aspirational lifestyle market, and it's clear Meghan has an uphill battle in creating a brand that feels inviting and approachable. After all, few things are less relatable than a duchess telling you your life can be like hers.

Still, if Meghan can stay true to her fans and lean into her life's fairy-tale arc, she might be on her way to starting her best chapter, experts say.

The crowded lifestyle industry

Although she was known for her acting career before she married Prince Harry, Meghan also ran a blog called The Tig from 2014 to 2017, sharing recipes, travel stories, and posts about her favorite restaurants.

Her two new ventures β€” "With Love, Meghan" and As Ever β€” allow her to tap back into those interests before her royal detour, though it will have to evolve as she did in the last eight years.

"She was creating some branding, but it was not as cultured. It was not as refined," Stacy Jones, the founder and CEO of Hollywood Branded, told Business Insider of The Tig. "Becoming part of the royal family, she opened up a whole different level of product class."

Meghan Markle in September 2023.
Meghan Markle's brand, As Ever, will launch in the spring.

Mark Cuthbert/Getty Images

Although Meghan's passion for lifestyle is well-established, the industry is crowded.

Martha Stewart has long been the it-girl of the lifestyle world, and celebrities like Gwyneth Paltrow and Jessica Alba have carved their own place in the industry with Goop and the Honest Company, finding commercial and financial success. Goop was worth $433 million in 2020, and as of March 2025, the Honest Company, which went public in 2021, was valued at about $530 million.

Likewise, influencers such as Meredith Hayden have built massive social media followings with lifestyle content, appealing to viewers as "every women."

Jones said Meghan will "need a strong and unique selling point" to make As Ever resonate. Megan Balyk, the vice president of Jive PR + Digital, told BI she thinks Meghan will struggle if she "cannot find a clear, consistent brand identity."

Consistency has been an issue for Meghan since 2020, said Balyk. Meghan has tried her hand at ventures that didn't pan out, like her animated series "Pearl" or the $20 million Spotify deal to make podcasts with Harry. (People reported on March 3 that Meghan is working on a new podcast with Lemonada Media.)

The ever-evolving nature of Meghan's post-royal life has also bred some public distrust, and she doesn't do herself any favors by seeming to take cues from the royals' "never complain, never explain" mantra when it comes to her middling business dealings.

Meghan Markle and Prince Harry wearing light-colored clothing and sunglasses at a polo match
Meghan Markle and Prince Harry in April 2024.

Yaroslav Sabitov/PA Images via Getty Images

For instance, Meghan announced in February that she wasΒ changing her company's name from American Riviera Orchard, a nickname for her neighborhood of Santa Barbara, to As Ever. She cited her partnership with Netflix, her desire to make items that aren't just localized, and the name's nod to her longtime love of cooking as the reasons for the change.

There's truth there, but it doesn't tell the whole story. The trademark office temporarily denied Meghan's application for American Riviera Orchard in August 2024, saying the name was "primarily geographically descriptive."

That denial was likely a motivating factor in the rebrand, and when that kind of information trickles out to the public from the media or internet sleuths as Meghan tells an edited version of events, her critics β€” who have no reason to give her the benefit of the doubt β€” may feel even more vindicated in distrusting her.

Finding her brand

Meghan's ventures have an effortlessly luxurious feel in their branding so far, simultaneously appealing and just slightly out of reach. Their light tones are also starkly different from those of her previous Netflix hit, "Harry & Meghan," which detailed her struggles with royal life. Harry is also largely absent from her new show.

The people watching "With Love, Meghan" will likely differ from those eager to hear about her dramatic life as a royal.

"People like looking at train wrecks and car crashes, and they want to gossip," Jones said. "You're really leaning into a very different type of fan base."

Meghan has to build out a new audience that trusts her, but her existing supporters can help. Young women make up much of her fan base, and Black women have been some of Meghan's strongest supporters as she's risen to fame.

Meghan Markle in Nigeria in May 2024.
Meghan Markle in May 2024.

KOLA SULAIMON/AFP via Getty Images

Jones said it could "be a huge missed opportunity" if Meghan doesn't prioritize Black women in her lifestyle ventures.

"Most celebrity lifestyle brands cater to a polished, elite, mostly white audience," she said. "If Meghan embraces this community with real action, As Ever could be powerful. If she doesn't, it may feel like she's lost touch with the very people who saw themselves in her story."

Balyk also said that it might be easier for Meghan to build a brand people trust if she positions Melinda Gates and Oprah Winfrey as her contemporaries rather than Stewart or Paltrow, as her passion for philanthropy has been clear to the public from the earliest days of her fame.

If she can incorporate that focus on giving back into her lifestyle work, Meghan may even be able to get the best of both worlds.

Authentically Meghan

When Meghan made The Tig, she was in the sweet spot of being successful but not too famous.

Now, though, she is among the most famous people in the world, married to a prince, and mother to children who are sixth and seventh in line for the British throne. She also lives in a celebrity-studded neighborhood in California and counts A-list stars among her close friends.

Lifestyle content thrives when consumers relate to the creator, but Meghan's life is so singular that relatability isn't an option for her anymore, no matter how much she wants it to be.

Ironically, Jones told BI that Meghan may be able to make herself more approachable to audiences by reminding them that she isn't like them.

meghan markle wedding dress
Prince Harry and Meghan Markle at their 2018 wedding.

Ben STANSALL - WPA Pool/Getty Images

"Everyone can buy in on the princess," she said. "Americans like a fable. They like a happy ending."

Viewers might not be able to see themselves in much of Meghan's life, but they can invest in the American dream she lived, looking to her for guidance on how to make their ordinary lives just a bit more sparkly. The duchess can also use her show to tell that story and sell customers on As Ever.

"She has a literal infomercial for who she is that can be viewed 24/7 and streamed," Jones said. "She can tell the stories about the lifestyle and the brand. She can paint pictures about her jam and how it came to be and all the little steps that actually people are fascinated with."

Meghan's fairy tale shouldn't be hard to sell. She is a beautiful actor who fell in love with a prince and wants to live happily ever by helping people make their lives more aesthetically pleasing. If she can tap into that narrative, Meghan will finally find a niche that feels like home.

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How software companies are developing AI agents and preparing their employees for the next wave of generative AI

By: John Kell
4 March 2025 at 13:19
TESTING
Chris Bedi, ServiceNow's chief customer officer and enterprise-AI advisor.

Courtesy of ServiceNow/BI

  • In a Deloitte survey, 26% of leaders said their organizations were seriously exploring autonomous agents.
  • ServiceNow, SAP, and Salesforce are among the firms that have debuted AI agents to do work tasks.
  • This article is part of "AI in Action," a series exploring how companies are implementing AI innovations.

When clients of the cloud-based-software provider ServiceNow contact the company's customer support center, 80% of the cases β€” in the form of calls and chat messages β€” are handled without any human intervention.

Instead, the company relies on analytical and generative artificial intelligence β€” in the form of AI agents β€” to address common customer questions.

Chris Bedi, ServiceNow's chief customer officer and enterprise-AI advisor, said employees still handle one out of every five customer-support requests.

They're getting new support from agentic AI, which can automate tasks such as drafting a response email to a customer. Workers remain in the loop for a final sign-off before any agentic-AI actions are executed. The combination of human workers and agentic AI shrank the amount of time it took to handle the more complex cases by 52% in a two-week period, ServiceNow said.

OpenAI's cofounder Sam Altman and other leading technologists have said that 2025 will be the year that AI agents "join" the workforce.

In addition to ServiceNow, software developers such as Salesforce and SAP have rolled out their own agentic-AI platforms. These can perform workplace tasks such as processing customer invoices, providing customer support to clients, and drafting emails. The business software giant Intuit, which owns TurboTax and QuickBooks, began rolling out agentic-AI capabilities in December.

Humans mostly remain in the loop for now, but vendors anticipate this technology will become fully autonomous. Multiagent systems, where two or more AI agents collaborate to complete work, will proliferate.

"Agents are the next level of understanding around how you apply AI," Jim Rowan, the head of AI at the consultancy Deloitte, said. "It can perform actions for you."

In a recent Deloitte survey of 2,773 business leaders, 26% of respondents said their organizations were exploring autonomous agents to a "large or very large extent."

Why AI agents have become the new focus for generative AI

For the first two years of the generative-AI boom β€” which kicked off after the debut of OpenAI's ChatGPT in late 2022 β€” most businesses that adopted the technology scaled it to power chatbots and complete routine tasks like drafting meeting summaries. AI agents represent an evolution of generative-AI technology, built to complete tasks autonomously, though most are still monitored closely by workers.

Agentic AI "actually possesses some unique skills around reasoning, planning, and orchestration," Bedi told Business Insider. "These agents can collaborate with each other and really start to deliver on the promise of work happening autonomously."

Buzz for AI agents kicked into high gear after Salesforce debuted Agentforce in September to automate tasks in customer support, sales, and marketing. The company has said it will roll out 1 billion agents to customers by the end of this year. The company also reported that more than 340,000 of its customer support questions had been answered autonomously with Agentforce.

ServiceNow estimates that the company's AI agents, already deployed in various parts of the business, such as customer service, human resources, and IT, are driving an estimated $325 million in annualized value by bolstering workplace productivity by 20%. ServiceNow says AI-agent-supported work saves 400,000 labor hours annually.

Still, technology companies are in the early stages of their agentic-AI development. Many are figuring out which processes they can fully automate with the technology. As a result, company leaders implementing agentic AI are training their workers to collaborate with β€” and provide feedback on β€” their new "coworkers."

AI agents are often developed as worker-collaboration tools

John Kucera, the senior vice president of product management at Salesforce, recommended that businesses be transparent about what work AI agents can handle and what will remain with workers. He added that businesses should be clear about what an AI agent actually is, saying that not all agentic systems are equal.

"There's a lot of false agents out there," Kucera said. "It's only an agent when you're taking a request and the agent is figuring out what to do and then what data to put in."

While surveys frequently find that many workers worry that AI will replace them, technologists say AI agents won't replace people but assume responsibility for mundane tasks.

"These agents are going to help me do my job, but at no point will they make me do something I'm not aware of," said Walter Sun, the global head of AI at SAP, which sells software for financial, supply chain, and other business management needs. "The most important thing is that the employees are always in control."

How companies are tailoring AI agents with employee feedback

To ensure workers have a voice in how AI agents are developed, SAP encourages employees across its various business lines β€” including the travel- and expense-management provider Concur and SuccessFactors, which provides HR, payroll, and talent management software β€” to use an internal online form to reach out to the AI team and propose compelling agentic use cases.

At Intuit, the AI-powered financial assistant Intuit Assist can get businesses paid 45% faster by detecting past-due invoices and automatically drafting a personalized reminder note. After a business owner approves the note's language and sends it out, they are paid, on average, five days sooner than with a human-only process, Intuit Assist said.

But before Inuit Assist takes action, humans have the final say. "What we're trying to do is have the right human-automation interaction," Ashok Srivastava, Intuit's chief data officer, said.

Intuit has embraced a robust AI-training program, focused on responsible AI and what the technology can and cannot do, and built a "sandbox" called GenStudio that allows employees to interact with large language models in a secure environment. The company has also developed educational programs tailored to senior executives, directors, and engineers. "It's very pervasive across the company," Srivastava added.

Asana, which makes work-management software, launched AI agents in October, focusing on a few functions, including marketing, IT, HR, and research and development. Rather than track a specific number of actions that agentic AI takes over, Asana monitors the types of work that can be automated, eliminating the drudgery of busy work to allow employees to focus on more complex tasks.

The company is also keeping a close eye on which tasks AI systems get wrong compared with people. In cybersecurity, human errors tend to occur later in the day, when workers are tired after a long shift. AI doesn't get tired, but it is susceptible to hallucinations β€” or when an AI model generates a response that is misleading or false information but nonetheless presents it as fact. For example, Asana's AI agent might respond to certain questions by suggesting tasks that are, in reality, nonexistent to a particular workflow.

"The kinds of errors we see are different, so the way we fix them needs to be different," Asana's chief information security officer, Sean Cassidy, said. He said the company conducts automated tests to detect hallucinations and improve the product when they occur.

For AI agents to create a compelling return on investment for the companies that implement them, Deloitte's Rowan said, workers should be tasked with frequently checking on simple automated tasks before any agentic AI actions are taken.

If businesses want to see big returns on their agentic AI investment, they need to place AI at the center of their work model, and then consider how humans will engage with the work, Rowan said. If not, "the savings really won't be there," he added.

ServiceNow's Bedi said the success of AI agents depends on companies nailing three factors: New agentic capabilities should be developed for each department and its specific needs, unique training plans should be designed for every part of the business β€” like finance, marketing, and sales β€” and the value and return on of agentic workflows should be closely monitored.

"The companies that combine all three of those ingredients are going to have a competitive advantage," Bedi said.

Read the original article on Business Insider

The internet is just TV now

4 March 2025 at 12:33
The Philadelphia Eagles celebrate during a 2024 game
The Philadelphia Eagles celebrating during their November 14 game against the Washington Commanders β€” the event that generated more internet traffic than anything else in the last three months of 2024.

Cooper Neill/Getty Images

  • The internet is rapidly destroying TV because it gives people more ways to spend their time, for less money.
  • Except! The thing that commands the most live attention on the internet is the same thing that commands the most attention on TV.
  • Yup: NFL games.

Two things can be true at the same time:

  • The internet has atomized the way we absorb information, entertainment, and culture. Which means we all exist in our own bubbles of interest and affiliation.
  • The internet is very good at showing lots of people the same thing lots of people used to consume before the internet existed. Which means we're all still watching the same things we used to watch on TV β€” we're just getting it through broadband pipes.

Here's evidence for the second thing: a list of the top live internet events, ranked by broadband traffic, for the last three months of 2024. If you'd like to see a nonscreenshot version, download this report from AppLogic Networks, a broadband infrastructure company.

Screenshot of top US live internet events, ranked by traffic volume

AppLogic Networks

As you can see, the fifth entry on the chart is Netflix's Jake Paul vs. Mike Tyson kinda-fight β€” the kind of stunt programming that used to run on ABC's "Wide World of Sports." (See: Knievel, Evel.) And the remaining nine events are all NFL games, streamed by Amazon, or ESPN, or Peacock.

That is: NFL games β€” basically the only thing that draws big numbers of viewers on TV anymore β€” are also basically the only thing that draws big numbers of internet viewers. At least when it comes to live, concurrent viewing.

As anyone who works in the TV business can tell you, that doesn't mean you can simply port TV shows over to the internet and get the same viewership, or money, that the traditional TV infrastructure used to deliver. It's much more complicated than that.

But it does seem to mean that TV's biggest live draw is also the internet's biggest live draw.

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Amazon is spending $100 billion on data centers this year. Energy firm GE Vernova will help power a slice of it.

4 March 2025 at 12:27
AWS data center
An Amazon data center.

Amazon

  • Amazon and GE Vernova are partnering on power solutions for data centers.
  • Grid operators in the US struggle to keep pace with surging data center demand.
  • Big Tech companies are exploring alternative ways to get power to their sites quicker.

Amazon and GE Vernova have signed a strategic framework agreement to help power the cloud provider's rapid data center expansion, both companies said Tuesday in a press release.

Under the agreement, GE Vernova is set to help Amazon connect its growing international fleet of data centers to the electric grid through major electrical equipment expansion, project management, and construction support. The companies will also partner on renewable energy projects, and Amazon plans to work with GE Vernova's accelerator business to explore new forms of power generation for data centers.

The terms of the deal were not disclosed.

Amazon, along with other Big Tech companies, is spending hundreds of billions of dollars on data center expansion to advance artificial intelligence technology. Amazon plans to allocate over $100 billion in capital expenditures this year, mostly on expanding its cloud and AI infrastructure.

The development boom has caused energy demand in the US to surge for the first time in decades, and grid operators are struggling to keep up with the pace of growth.

As a result, data center operators are partnering with energy companies to explore various alternative options for getting power to their sites quicker. Last year, Amazon signed a deal with Talen Energy to use power from its Susquehanna nuclear power station in Pennsylvania.

GE Vernova builds and implements electrical power systems and equipment for energy sources such as natural gas, hydropower, wind, nuclear, and steam. The company's gas division saw significant growth in orders in 2024 for natural gas turbines, partially due to data center demand, CEO Scott Strazik said on an earnings call in January.

The company's natural gas turbines are providing power at the first Stargate site in Abilene, Texas. Stargate isΒ a $500 billion joint initiative by OpenAI, Oracle, SoftBank, and the White House to build AI infrastructure.

Amazon and GE Vernova did not immediately respond to requests for comment.

Do you have a story to share about data centers and energy? Contact this reporter at [email protected].

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How the biggest hedge funds did in a volatile February

4 March 2025 at 12:23
Ken Griffin
Citadel CEO Ken Griffin.

Heidi Gutman/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

  • Top hedge funds such as Citadel and Millennium lost money in February, BI has reported.
  • Geopolitical tensions brought on by President Donald Trump led to rocky markets last month.
  • See how some of the biggest multistrategy funds stack up.

Here's how multistrategy funds β€” which have raised billions in recent years because of their ability to handle volatility β€” stack up for the year so far:

FundJanuaryFebruaryYear-to-date
AQR Apex2.5%2.8%5.4%
Balyasny2.5%0.9%3.5%
Walleye3.6%-0.5%2.8%
ExodusPoint2%0.7%2.8%
Verition1.7%0.6%2.4%
Sculptor2.1%0.1%2.4%
Schonfeld Partners2.2%0%2.2%
LMR0.6%1.0%1.8%
Citadel Wellington1.4%-1.7%-0.3%
Millennium0.5%-1.3%-0.8%
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Trump tariffs: 39 cars and trucks built in China and Mexico that are likely to get more expensive

Red semi-truck carrying Toyota pickup trucks waits in line to cross the US-Mexico border
Tariffs on imported cars and trucks are likely to increase prices for US consumers, trade groups and experts warned.

GUILLERMO ARIAS/AFP via Getty Images

  • Trump's tariffs on Canadian and Mexican imports went into effect Monday night.
  • Automakers rely heavily on a complex supply chain that routinely crosses borders.
  • Industry groups and experts warned of price hikes as a result of the import taxes.

President Donald Trump's tariffs enacted Monday could increase the sticker price of at least 39 car models sold in the US.

The tariffs affect not just foreign automakers but many domestic nameplates, like GM's Chevrolet, as well. An Equinox SUV's transmission may be assembled in the US and shipped to Mexico for final assembly before finally ending up at a lot in Omaha, for example.

Automakers rely on a complex supply chain in which parts and vehicles regularly cross North American borders during the manufacturing process or before they hit dealer lots, thanks to various regional trade agreements inked over the years.

Government data shows 34 models on sale in the US that are imported from either Canada or Mexico, from both domestic and foreign manufacturers.

Experts predict manufacturing costs will rise anywhere from $4,000 to $12,000, with automakers passing much of that cost on to consumers in the form of higher prices. New vehicle prices have skyrocketed since 2020 and now average more than $50,000, according to Edmund's data.

When it comes to vehicles sold in the US, Ford imports the least, making about 78% of those cars, trucks, and SUVs domestically. Mazda, Volkswagen, and Mercedes-Benz import the most, industry data shows.

A trade group representing Ford, GM, and Stellantis said the import costs would stymie American competitiveness, increase consumer prices, and decrease investment in US jobs.

Shares of automakers fell sharply on Monday as Trump said there would be no last-minute reprieve like in February. Ford, GM, and Stellantis are down more than 14% since the November election. Honda is down more than 10%.

Vehicle parts and finished vehicles are the US' top imports from Mexico and second behind oil from Canada. Prices on other vehicles that rely on imported parts could also see increases, even if their final country of assembly is the US.

Here's a look at the models imported for sale in the US and where they are manufactured, according to data from the National Highway Traffic Safety Administration. Prices on other vehicles that rely on imported parts could also increase.

BMW

  • BMW 2-Series Coupe/Convertible (Mexico)
  • BMW M2 Coupe (Mexico)
  • BMW 3-Series Sedan (Mexico)

42.7% of BMW cars sold in the US are made domestically, according to Edmunds data.

Ford

  • Ford Bronco Sport (Mexico)
  • Ford Maverick (Mexico)
  • Ford Mustang Mach-E (Mexico)
  • Ford Mustang GTD (Canada)

78.3% of Ford vehicles sold in the US are made domestically, according to Edmunds data.

General Motors

  • Chevrolet Blazer (Mexico)
  • Chevrolet Blazer EV (Mexico)
  • Chevrolet Equinox (Mexico)
  • Chevrolet Equinox EV (Mexico)
  • GMC Terrain (Mexico)

47.3% of GM vehicles sold in the US are made domestically, according to Edmunds data.

Honda

  • Honda CR-V Hybrid (Canada)
  • Honda Civic Sedan (Canada)
  • Honda HR-V (Mexico)
  • Honda Prologue (Mexico)
  • Acurda ADX (Mexico)

58.9% of Honda vehicles sold in the US are made domestically, according to Edmunds data.

Hyundai

  • Hyundai Tucson (Mexico)

Hyundai makes 38.4% of its vehicles vehicles sold in the US are made domestically, according to Edmunds data.

Kia

  • Kia K4 (Mexico)

Kia is owned by Hyundai.

Mazda

  • Mazda CX-30
  • Mazda3

20.3% of Mazda vehicles sold in the US are made domestically, according to Edmunds data.

Mercedes-Benz

  • Mercedes-Benz GLB (Mexico

36.5% of Mercedes-Benz vehicles sold in the US are made domestically, according to Edmunds data.

Nissan

  • Infiniti QX50 (Mexico)
  • Infiniti QX55 (Mexico)
  • Nissan Sentra (Mexico)
  • Nissan Kicks (Mexico)
  • Nissan Versa (Mexico)

45.6% of Nissan vehicles sold in the US are made domestically, according to Edmunds data.

Stellantis

  • Ram 2500-5500 (Mexico)
  • Ram ProMaster (Mexico)
  • Jeep Compass (Mexico)
  • Chrysler Pacifica (Canada)

    68.2% of Stellantis vehicles sold in the US are made domestically, according to Edmunds data.

Toyota

  • Toyota Tacoma (Mexico)
  • Toyota RAV4/RAV4 Hybrid (Canada)
  • Lexus NX (Canada)
  • Lexus RX (Canada)

44.1% of Toyota vehicles sold in the US are made domestically, according to Edmunds data.

Volkswagen Group

  • Audi Q5/SQ5 (Mexico)
  • VW Jetta (Mexico)
  • VW Taos (Mexico)
  • VW Tiguan(Mexico)

27.8% of Volkswagen Group vehicles sold in the US are made domestically, according to Edmunds data.

Read the original article on Business Insider

Trump's tariffs are giving companies a chance to earn some free PR — and one already took it

4 March 2025 at 12:14
President-elect Donald Trump at a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill in Washington, DC, on November 13, 2024.
Trump's tariffs would have a significant cost on the US auto-making industry, Wells Fargo analysts have said.

Allison Robbert-Pool/Getty Images

  • Some companies are already telling customers they'll need to raise prices due to Trump's tariffs.
  • At least one β€” Chipotle β€” has said it's not planning on passing the cost to consumers
  • The tariff announcement has become a key talking point businesses now need to consider.

I'd like to formally announce I will not be passing the cost of the tariffs down to Business Insider Today's newsletter readers.

President Donald Trump's taxes on Canadian, Mexican, and Chinese goods have absolutely no impact on my ability to produce the daily newsletter. (And it's also free to subscribe.)

But don't let the details get in the way of a feel-good story: I am willing to carry the burden of these taxes for you, the reader.

My declaration might sound silly (It is!), but there are undoubtedly some serious conversations taking place at businesses about communicating the impact of these new tariffs.

Some companies aren't wasting time making clear that customers will have to take this one on the chin. Target CEO Brian Cornell said some grocery costs could go up as early as this week, while Best Buy CEO Corie Barry said price increases on imported products are now "highly likely."

Both executives didn't get too specific on their earnings calls, but the message was clear: Don't blame us if we have to raise prices.

They're not alone. Companies big and small have been telegraphing potential price increases due to tariffs for a while. As legendary investor Warren Buffett recently said of tariffs: "Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em!" (We've got a full rundown on the products most susceptible to tariffs.)

But one company took a very different approach. Before Tuesday's announcement, Chipotle made clear it was not planning on raising its prices due to tariffs.

Chipotle CEO Scott Boatwright told "NBC Nightly News" that the chain planned to absorb any price increases.

"We are fortunate to have such an extraordinary economic model at Chipotle that we can withstand those types of inflationary pressures and not have to pass those costs off to the consumer," Boatwright said.

What a win for the finance bros! You can't tax these gains! I'll take double meat and some guac, please!

Oh, wait, there's one more thing.

Boatright went on to say Chipotle could still raise prices if the cost of the tariffs becomes a "significant headwind."

Oh, ok…

And tariffs aren't even set to hit Chipotle that hard. At least, according to Chipotle. Executives previously played down the impact of tariffs on a recent earnings call. Despite Mexico supplying roughly 90% of the avocados eaten in the US, according to CNBC, the chain only gets about half its supply from Mexico. And Chief Financial Officer Adam Rymer said the produce it gets from our neighbors to the south accounts for only about 2% of its sales.

Hmmm, alright.

Chipotle is also not philosophically opposed to passing along the cost to customers. In fact, the chain literally just did it. In December, Chipotle raised prices by 2% nationwide to offset inflation, its first price increase in over a year. The price hike also addressed the hit to its profit margin that came with ensuring "consistent and generous portions."

So, to recap: A chain that says it's pretty insulated from tariffs and recently raised its prices will do its best not to raise prices on consumers. (But no promises.)

Siri, where is the nearest Moe's?

To be fair to Chipotle, the tariffs are projected to cost the chain some money. Rymer previously estimated that tariffs on Mexico, Canada, and China would increase its cost of sales β€” or how much it pays for the stuff it sells you β€” by about 0.6%.

That's not nothing, especially when fast-food chains have been fighting to keep prices down in the face of an uncertain economic future. So, credit Chipotle for attempting to avoid passing on the costs to customers rather than just waving the white flag on tariffs or using the trade tax as cover to raise its prices.

"It is our intent today to hold pricing constant because we don't know if the tariffs are transitory, if they're going to be permanent, or how they will impact our business in the future." Laurie Schalow, chief corporate affairs officer for Chipotle, told me via email.

But just as some have said Trump's tariff plan is part of a bigger negotiation tactic, don't be surprised if companies look to borrow from the president's playbook. The hot-button issue could be an excuse for businesses to raise prices or an opportunity to tout that they're holding the line to protect their customers.

Read the original article on Business Insider

US agency that pushed for mass firings quietly clarifies it doesn't have the power to fire workers

4 March 2025 at 11:58
Protesters hold signs in solidarity with the American Federation of Government Employees of District 14 at a rally in support of federal workers at the Office of Personnel Management in Washington.
It's unclear if the change will affect probationary employees who have already been fired.

Alex WROBLEWSKI / Getty Images

  • The Office of Personnel Management quietly revised a memo about firing probationary employees.
  • The update, which says that OPM can't fire workers in other agencies, follows a recent court ruling.
  • It's unclear if this affects the thousands of probationary employees who have already been fired.

The Office of Personnel Management quietly revised a memo on Tuesday about the firing of probationary federal employees. The memo includes two new sentences indicating that individual agencies, not OPM, are responsible for terminating workers.

Less than a week ago, a federal judge ruled that OPM doesn't have the power to fire employees in other agencies and had exceeded its legal authority. US District Judge William Alsup said in his ruling that OPM had to inform agencies it didn't have such power. The updates to the memo appear in line with that directive.

The memo was first published on January 20, President Donald Trump's first day in office, and much of it remains unchanged, based on BI's comparison of the original and revised versions.

Originally, the document directed agencies to send a list of all probationary employees to both a general OPM email and Amanda Scales, OPM's chief of staff who is associated with the White House DOGE office. The new version only says to send the list to the general email.

The original version described probationary periods as tools to "assess employee performance and manage staffing levels," suggesting they could be used for workforce reductions. The revised memo drops the staffing management language, instead describing probationary periods only as a way to ensure employees "will be an asset to the Government."

OPM sent agencies' chief human capital officers an email about the new memo, saying that it is "aware of recent litigation challenging the terminations of various probationary employees in different departments of the federal government," according to a copy reviewed by BI.

"The revised memorandum clarifies and confirms that OPM has not directed, and is not directing, your agency to take specific performance-based actions against probationary employees," the email says. It is signed by the "CHCO Council."

Thousands of probationary employees β€” typically people with less than two years of experience in their roles β€” have already been fired. It's not clear whether they will be rehired under the new guidance.

Representatives for the White House and OPM did not respond to a request for comment from BI.

Read the original article on Business Insider

Zelenskyy advisor tells BI what he's worried about after Trump froze Ukraine aid: US-made Patriots

4 March 2025 at 11:52
A Patriot battery fires an interceptor missile.
President Donald Trump's decision to freeze military aid to Ukraine is fueling concerns about the future of key weapons.

US Army photo

  • President Donald Trump ordered a pause in US military aid for Ukraine.
  • An advisor to Ukraine's president told BI the decision puts a spotlight on Patriot air defenses.
  • The US-made Patriot missile batteries have been critical to defending Ukraine from Russian attacks.

KYIV, Ukraine β€” President Donald Trump's decision to freeze military aid to Ukraine is fueling concerns about the future of key weapons, particularly its American-made Patriot air defense systems.

"For us, the most critical positions are, undoubtedly, everything related to missile defense systems, particularly the Patriot systems. The largest production of these is in the United States," Mykhailo Podolyak, an advisor to Ukrainian President Volodymyr Zelenskyy, told Business Insider during an interview in Kyiv on Tuesday.

Trump on Monday ordered a pause in the delivery of military aid to Ukraine to pressure Zelenskyy into peace talks with Russia on unfavorable terms. The move, though not necessarily surprising, has escalated the already tense situation following a contentious Oval Office meeting last week.

Podolyak, speaking through a translator, said that Ukraine still needs to identify which areas of US security assistance would be affected by Trump's aid decision and which weapons or ammunition could be replaced by other partner nations.

From left: Ukrainian President Volodymyr Zelenskyy, US President Donald Trump, and Vice President JD Vance argue during a meeting in the Oval Office on February 28.
The pause on US aid to Ukraine follows a contentious White House meeting between Trump and Zelenskyy.

Andrew Harnik/Getty Images

He singled out Ukraine's Patriot air defenses as an important concern and said Kyiv would continue to work with the US and Europe to find ways to protect civilians and infrastructure from regular Russian bombardments.

"Russia is not stopping its attacks; it continues missile strikes on civilians and critical infrastructure. Russia is not stopping and will not stop," Podolyak said. "Therefore, we will continue to look for ways to counter Russian strikes β€” both across the entire territory of Ukraine and along the front line."

"We will search for available tools on the global market and use them to destroy Russia's capabilities," he said.

Patriots have been crucial

The American-made MIM-104 Patriot surface-to-air missile system, manufactured by Lockheed Martin and Raytheon, has played a crucial role in protecting Ukraine from Russian attacks since Kyiv first obtained it from the US nearly two years ago.

Ukraine now reportedly operates six Patriot systems at undisclosed locations around the country. These batteries have helped Kyiv shoot down Russian ballistic missiles, including some that the Kremlin claimed were unstoppable.

The US is not alone in providing Patriots; other NATO countries like Germany and the Netherlands have provided Ukraine with batteries and missile interceptors. But Trump's decision to pause aid raises questions about the future of what is now Kyiv's top air defense asset.

Ukraine is said to be running low on Patriot interceptor missiles, for which the US has been a key supplier. Halting further supply could prove detrimental.

German soldiers guard a Patriot air-defense system in Poland on January 23.
German soldiers guard a Patriot air defense system in Poland on January 23.

Kay Nietfeld/picture alliance via Getty Images

Trump's move was a sobering moment for Ukraine. The Biden administration pledged more than $65 billion in security assistance to Ukraine after Russia launched its full-scale invasion in February 2022.

On Tuesday, in Kyiv, locals expressed frustration and anger with the new military aid pause in conversations with BI.

"There [are] consequences for the front-line cities," said one local resident, who introduced himself as Viktor and didn't give his last name. "Lack of weapons will result in more bombing of those cities. If we are talking about air defense β€” here in Kyiv and other cities where civilians will die because we don't have enough Patriots, for example."

The military aid pause escalates a substantial rift between Washington and Kyiv, coming just a few days after Trump and Vice President JD Vance berated Zelenskyy at the White House over peace negotiations. Ukraine's leader left without signing an anticipated rare-earth minerals deal.

Zelenskyy said Tuesday that the way the meeting unfolded was "regrettable" and that it was "time to make things right."

"Regarding the agreement on minerals and security, Ukraine is ready to sign it in any time and in any convenient format," he wrote on social media. "We see this agreement as a step toward greater security and solid security guarantees, and I truly hope it will work effectively."

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David Zaslav says ditching the NBA was a 'great decision' for WBD

4 March 2025 at 11:40
David Zaslav smiling
CEO David Zaslav wants to focus on other areas of WBD, away from basketball.

Rodin Eckenroth/WireImage

  • Warner Bros. Discovery drew criticism for its decision to end its TV deal with the NBA.
  • WBD CEO David Zaslav said, "Not doing the NBA was a great decision" for the company.
  • He said at a conference that WBD would turn its attention to franchises it owns, like Harry Potter.

When Warner Bros. Discovery decided to end its 35-year partnership with the National Basketball Association, some industry insiders worried the company was making a huge mistake. CEO David Zaslav is putting those fears to rest.

"Not doing the NBA was a great decision for us," Zaslav said at a Morgan Stanley conference on Tuesday.

WBD's latest distribution deals with Charter and Comcast have shown that the company can still secure higher rates for most of its TV networks without the NBA, as Business Insider previously reported.

The company is also investing in other sports. It's kicking off a new deal with NASCAR this year, and has picked up more rights to college sports.

Not having the NBA also saves WBD money. The NBA's last TV contract was worth $24 million over nine years and the league scored a big increase with its latest deal. The new 11-year contract with Disney's ESPN and ABC, Comcast's NBC, is worth $76 billion.

WBD is pivoting to bolster its own franchises

Without the NBA, Zaslav said WBD can reinvest in franchises it already owns and generate more revenue. New content is coming to its Harry Potter, Lord of the Rings, DC Universe, and Game of Thrones franchises.

Zaslav thinks this move will provide some stability to the company as it continues to work with distributors to get its content to more people. Its recent pay-TV deals with Charter and Comcast let those cable companies bundle Max with their services, effectively making it free for those subscribers.

Zaslav said the company can monetize franchises it owns through content and merchandising, more than it can with sports.

"We own those," Zaslav said. "Sports is a rental business, and so you got to look and say, 'Are we going to be able to make money on this?'"

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A Tesla Supercharging station was engulfed in flames. Police suspect arson.

4 March 2025 at 11:03
Tesla chargers at night
Police are investigating seven Tesla charging stations that were set on fire in Littleton, Massachusettes.

NurPhoto/NurPhoto via Getty Images

  • Massachusettes police are investigating seven Tesla charging stations that were set on fire.
  • Police told BI that the charging stations were the only ones in the small town outside Boston.
  • Investigators suspect the fires were intentional.

A group of Tesla Superchargers in a small town outside Boston caught fire this week β€” and investigators suspect it was arson.

Massachusettes police are working with local officials to investigate seven Tesla charging stations that were engulfed in flames early Monday morning. Littleton Police said in a Monday press release that local officials have "determined that the fire appears to have been intentionally set."

Littleton Police Deputy Chief Jeff Patterson told Business Insider that the seven charging stations that were damaged are the only ones in the town, and none of them are useable. However, he said they are actively being repaired.

Tesla's charging account on X responded to a post about the incident on Monday and said the charging posts and wiring would be replaced in under 48 hours.

No customers were charging at time of the fire. Posts & wire will be replaced in <48hrs. Critical infrastructure for EV drivers. Arson investigation ongoing with @LittletonMAPD.

β€” Tesla Charging (@TeslaCharging) March 4, 2025

Police chief Matthew Pinard said that officers were dispatched to The Point Shopping Center at 1:10 a.m., following reports of fires at the Tesla charging station.

The officers said that "several Tesla charging stations were engulfed in flames and heavy, dark smoke" and another caught fire while they waited for the Electric Light & Water Department to arrive to shut down the power. Seven charging stations suffered heavy fire-related damage.

There were no reported injuries, and all of the fires were extinguished. The Littleton police and fire departments, along with the Massachusetts State Police Fire and Explosion Investigation Unit, are investigating the incident. The Arson Watch Reward Program is offering rewards of up to $5,000 for information about the incident.

Patterson told BI that he wasn't aware of any Tesla protests or vandalism incidents in the town.

There have been dozens of demonstrations against Elon Musk and Tesla around the country in recent weeks in response to the Tesla CEO's efforts with the Trump administration and DOGE.

Demonstrators have gathered in cities around the country to participate inΒ "Tesla Takedown" protests, many of which have occurred outside Tesla showrooms. Some Tesla owners have also reported being subject to insults when driving or vandalism on their vehicles.

Some of the anti-Tesla and Musk efforts have resulted in arrests.

Colorado police arrested a woman last week on suspicion of her involvement in a series of vandalism incidents at a Tesla dealership, including painting "Nazi cars" in graffiti on the dealership building and throwing Molotov cocktails at vehicles. The suspect was charged with criminal intent to commit a felony, criminal mischief, and using explosives or incendiary devices during a felony, according to police records.

Nine people were also arrested at a Tesla showroom protest in Manhattan on Saturday, Reuters reported. Police said hundreds of people showed up to the protest, some of whom entered the building, prompting employees to close the store. Videos from the protest also captured some of the store's glass shattered.

Are you a Tesla driver or employee with a story to share? Contact the reporter at [email protected]

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Education secretary Linda McMahon has 3 goals to overhaul the American school system in Trump's vision

4 March 2025 at 10:59
Education Sec. Linda McMahon
Linda McMahon was confirmed as Trump's new education secretary.

Win McNamee/Getty Images

  • Linda McMahon was confirmed as Trump's education secretary on Monday.
  • Shortly after her confirmation, she released a memo outlining her goals for the Department of Education.
  • They include prioritizing private-school voucher programs and eliminating "divisive DEI" curricula.

President Donald Trump's newly confirmed education secretary is ready to carry out her boss' vision of eliminating her own department.

After being confirmed on Monday night, Linda McMahon published a memo outlining her goals for the Department of Education. She framed her goals as the department's "final mission" to reshape education in the US, saying that coming changes will "profoundly impact" the agency's operations.

"Removing red tape and bureaucratic barriers will empower parents to make the best educational choices for their children," McMahon said. "An effective transfer of educational oversight to the states will mean more autonomy for local communities. Teachers, too, will benefit from less micromanagement in the classroomβ€”enabling them to get back to basics."

McMahon highlighted three goals for restructuring the Department of Education:

  1. Ensure parents are the "primary decision makers" in their kids' education.
  2. Focus public education on math, reading, science, and history, and not "divisive DEI programs and gender ideology."
  3. Establish postsecondary education as a path to well-paying careers that meet the demands of the workforce.

These follow Trump's executive orders related to education in January. One focused on expanding school voucher programs, partly by redirecting federal funds from public to private schools, while the other prioritized "patriotic education" in public classrooms to eliminate curriculum that doesn't align with the president's politics.

McMahon's first goal is to expand parents' roles in their children's education by providing them with publicly funded vouchers to use at private institutions, which has long been a priority for Trump and Republican lawmakers. Trump's plan to reallocate federal block grants meant to boost underfunded schools to private-school vouchers would take it a step further, education policy experts have told BI. The administration would likely have to go through Congress to implement those changes.

McMahon's focus on math, reading, science, and history is also in alignment with Trump's executive orders. One of them proposed diverting funds away from public schools that teach "gender ideology and discriminatory equity ideology." The Trump administration recently cut $900 million in research contracts at the Education Department, and some department employees and education experts said that the cuts could hinder data collection on kids' math and reading progress.

McMahon's memo did not elaborate on her third goal for higher education. She said during her confirmation hearing that she would preserve programs enshrined in law, like the Public Service Loan Forgiveness program. She also wrote a September opinion piece in The Hill expressing support for expanding Pell Grant eligibility to workforce training programs, not just college degree programs.

Trump and Republican lawmakers have criticized broad student-loan forgiveness and former President Joe Biden's key repayment plan, which allowed for cheaper payments. Continuing those efforts is not likely to be prioritized under McMahon.

It's still unclear how Trump's executive orders will be carried out. The orders asked McMahon and other agency heads to prepare guidance on implementing changes to the school system, and it's possible the guidance could end up being less proscriptive than Trump and McMahon's stated aims.

Jon Valant, the director of the Brown Center on Education Policy at The Brookings Institution, previously told BI that even as schools await formal guidance from the department, some districts might prematurely consider McMahon and Trump's directives.

"People may interpret them as having more bite than they actually do," he said.

Trump has reiterated over the past few weeks that he wants to eliminate the Department of Education altogether. While McMahon said during her confirmation hearing that abolishing the agency would require an act of Congress, she told Democratic lawmakers in a recent letter that she "wholeheartedly" supports Trump's mission that "the bureaucracy in Washington should be abolished so that we can return education to the states."

Have a tip about the Department of Education or changes to the federal workforce? Contact this reporter via Signal at asheffey.97 or via email at [email protected]. Use a personal email address and a nonwork device; here's our guide to sharing information securely.

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