• Coca-Cola has warned that DEI policy changes could negatively affect its business.
• In a filing, the company said fostering an inclusive workplace culture was "critical" to its success.
• Its rival PepsiCo has rolled back DEI initiatives amid Trump's anti-DEI push.

Coca-Cola has warned that changes to policies meant to diversify its workforce could negatively affect its business.

In an annual filing, the company said its business could be adversely affected if it was "unable to attract or retain specialized talent or top talent with diverse perspectives, experiences and backgrounds."

"Our diverse, high-performing global employee base helps drive a culture of inclusion, innovation and growth," it said. "We aspire to develop a global workforce with diverse perspectives, experiences and backgrounds that reflect the broad range of consumers and markets we serve around the world."

It added that it remained committed to "providing access to equal opportunities and fostering belonging both in our workplaces and the local communities we proudly serve."

These efforts, it said, are "critical" to the company's growth and success.

Coca-Cola added that failure to maintain a corporate culture that "fosters innovation, collaboration, and inclusion" could disrupt its operations and "adversely affect our business and our future success."

A growing list of major companies are announcing rollbacks of diversity, equity, and inclusion initiatives following President Donald Trump's January executive orders, which ended federal diversity programs and placed federal DEI staffers on leave.

Coca-Cola's industry rival PepsiCo rolled back some of its DEI policies this month, scrapping a breakdown of its workforce demographics from a recent filing and removing a line about how a "culture of diversity, equity and inclusion is a competitive advantage" that retains talent and strengthens its reputation.

Coca-Cola and PepsiCo are both government contractors.

Though Trump's executive orders primarily targeted DEI efforts in the public sector, the "ending illegal discrimination and restoring merit-based opportunity" order also calls for encouraging the private sector to end "illegal DEI discrimination and preferences."

Asked last week whether the company would be changing its DEI policies to comply with the executive order, Coca-Cola's chief financial officer, John Murphy, said it was "focused on having the best talent around the world," according to Bloomberg.

He added, however, that it would "follow any change in regulations at the national level."

• North Korea has reopened to Western tourists this week.
• Westerners can't visit Pyongyang, but they can go on tours to the Rason Special Economic Zone.
• A tour guide told BI his first group in years included people from the UK, Australia, and Jamaica.

North Korea reopened its borders to Western tourists this week.

Since the COVID-19 pandemic, the country has been largely closed to Westerners. But on Thursday, Pyongyang allowed tour groups to visit the country's Rason Special Economic Zone, a region near the Russian and Chinese borders.

On Thursday morning, Rowan Beard of Young Pioneer Tours led one of the first foreign tour groups to return to the country.

Beard told Business Insider that the group consisted of 10 people from a number of different countries, including Singapore, Australia, the UK, Jamaica, and Germany.

"The country has been closed for five years so it's been a huge build-up and a huge interest from people wanting to go," he said.

While some of the visitors are specifically interested in North Korean culture, history, and society, Beard said that others simply wanted to tick off another country.

"Some of the people we're taking, North Korea is the last country for them to visit," he said.

Another couple, he added, grew up under communist rule in Romania and wanted to visit North Korea, a communist dictatorship, for nostalgic reasons.

"You get all these different types, it's a mix of interests," Beard said.

Beard told BI that he only learned of the potential reopening about a week prior, so the first group was made up of those who could quickly arrange flights to China and have their entry permits processed in time.

Another tour is scheduled for March 2, with 26 people booked onto it, he added.

Beard — who said he visited Rason a week before it reopened to assess the conditions — said North Korean officials have not set a specific quota for how many foreign tourists can visit but that numbers are small due to "logistical" limitations.

"There are logistical constraints in Rason when it comes to hotel vacancy, the amount of English guides that are available, and the buses they have," he said.

The State Department issued a ban on US citizens traveling to North Korea in September 2017 following the death of Otto Warmbier, an American student who was arrested on a tour and who was released in a vegetative state, dying soon after.

A July 2023 State Department travel advisory warns against travel to North Korea, citing a "continuous serious risk of arrest and long-term detention of US nationals."

Russians, however, have been back visiting North Korea's shores since the start of 2024, and Pyongyang remains closed to all but Russian tourists.

Foreign tourists on guided tours generally face strict regulations in North Korea — they must be accompanied at all times and are only allowed to take photos of approved sites.

The tourism industry has provided a crucial source of foreign currency for North Korea, which has struggled under international sanctions.

Later this year, the Wonsan-Kalma beach resort is set to open and is already advertising tour dates for Russian visitors.

• Japan says it's releasing 210,000 tons of rice to try to curb soaring prices.
• Prices have rocketed since last year, with the price of rice up 70.7% year-on-year in Tokyo.
• Japan's government turns to its stockpiles in times of poor harvests or natural disasters.

A staple of the country's cuisine, rice has seen soaring prices in Japan, prompting the government to step in with its own stockpiles in a bid to stabilize the market.

Taku Eto, Japan's agriculture minister, announced at a press conference Friday that the government will release up to 210,000 tons of rice kept aside for emergencies.

The latest average retail price of an 11-pound bag of rice in Japan was 3,688 Japanese yen, about $24, The Guardian reported, citing a government survey, up from about $13 last year.

In comparison, the price in the US for the same quantity of rice is $11, according to the US Bureau of Labor.

Data released by the Japanese government at the end of January showed that the price of rice rose 70.7% year-on-year in Tokyo, the capital.

The first 150,000 tons of government rice will be auctioned to wholesalers next month, and is expected to reach retailers in late March or early April.

Eto said he hoped releasing rice from the stockpile would help "normalize" the market and distribution.

The price spike began last fall, when the price of newly harvested rice in Japan reached its highest level in 31 years.

Rising labor and fertilizer costs due to inflation, a summer heat wave, and increased demand from an unprecedented number of tourists helped drive the rise.

But Eto attributed the price hike to a distribution bottleneck, saying at the press conference that enough rice is being produced to meet demand.

US consumers are also struggling with soaring prices, notably of eggs. Egg prices in the US are at an all-time high, caused in large part by a bird flu crisis that has wiped out an estimated 7% of the national flock.

Some US grocery stores are cracking down on how many eggs a shopper can buy at one time, and the average price of a dozen Grade A large eggs in the US has hit an all-time high of $4.95.

Japan started stockpiling rice in 1995, after a major crop failure in the early 1990s. It generally only taps into its reserves in response to unusually poor harvests or natural disasters.

On Wednesday, the Bank of Japan's governor, Kazuo Ueda, warned that food prices in the country could remain high.

He also said that the bank was "deeply aware" that this was negatively impacting people's lives.

• Eight former inspectors general fired by the Trump administration are suing to regain their jobs.
• Their lawsuit says the administration violated federal laws protecting them from interference.
• Efforts by the Trump White House to shrink the federal workforce have been met with legal challenges.

Eight former federal inspectors general who were fired from their independent watchdog roles are suing to regain their positions, marking the latest legal challenge to President Donald Trump's administration.

The lawsuit, filed Wednesday in a federal district court in Washington, DC, accused the administration of violating "unambiguous" federal laws designed to protect inspectors general from "interference" in their nonpartisan oversight duties.

One law, the Securing Inspector General Independence Act — passed in 2022 with bipartisan support — requires the president to give Congress advanced notice before removing an inspector general, and to provide a "substantive rationale, including detailed and case-specific reasons."

The lawsuit claims that Trump ignored these laws just days into his current term, and instead dismissed them via a "two-sentence email sent by the director or deputy director of the Office of Presidential Personnel."

As a result, the lawsuit said they lost access to their government email accounts, computer systems, and government-issued devices, and were barred from entering the government buildings they were assigned to work in.

The former inspectors general represented eight federal agencies — the Departments of Defense, Veterans Affairs, Health and Human Services, State, Agriculture, Education, and Labor, as well as the Small Business Administration.

The lawsuit named Trump and the heads of those agencies as defendants.

The lawsuit said the inspectors general are seeking redress for their "unlawful and unjustified" terminations. They're demanding to be reinstated until the president removes them from their posts in accordance with the law.

The Trump administration did not immediately respond to a request for comment from Business Insider.

Congress created the inspectors general in 1978, in the aftermath of the Watergate scandal, to combat fraud and abuse. It subsequently granted the federal watchdogs the authority to investigate and audit agency activities.

The removal of the inspectors general last month drew criticism from lawmakers on both sides of the aisle.

Senate Minority Leader Chuck Schumer described them as a "chilling purge" that he said showed Trump is "terrified of accountability."

Sen. Susan Collins, a Republican, said in January that she didn't understand why "one would fire individuals whose mission is to root out waste, fraud, and abuse."

The lawsuit comes amid efforts by the Trump administration, spearheaded by Elon Musk, to shrink the federal workforce. Measures have included a federal worker buyout, a return-to-office mandate, a hiring freeze, and the removal of DEI roles.

Some of these efforts have triggered their own legal challenges.

Unions sued to halt the deferred resignation program for federal workers, but on Wednesday a federal judge lifted an order blocking the Office of Personal Management from enforcing the deferred resignation deadline.

• Insurer William Russell ranked the safest countries for expats in 2025.
• The ranking considers political stability, crime, natural disasters, and healthcare, among other things.
• The list features countries in Europe, including Slovenia and Switzerland, as well as some in Asia.

For those considering living and working abroad, safety will likely be a key factor in choosing a destination.

William Russell, an expat insurance provider, has ranked the safest places to live as an expat in 2025.

The ranking uses data from the 2024 Global Peace Index and the World Risk Report, which consider factors such as political instability, the level of violent crime, the impact of terrorism, and vulnerability to natural disasters.

William Russell said it also considers healthcare access and digital security.

It found that the safest countries shared a few characteristics, including high levels of wealth, social welfare, and education.

There's another common thread — the majority are in Europe.

10. Malaysia

Tenth on William Russell's ranking is Malaysia.

As Malaysia exits an era of political turmoil, its government hopes that rising investments and startups flowing into the country signal that it is on its way to becoming Asia's Silicon Valley.

The HSBC Expat guide says Malaysia's growing IT sector already offers plenty of opportunities for expats, who may choose the country for its relatively low living costs, accessible healthcare, and tropical climate.

9. Slovenia

William Russell also ranks Slovenia highly as an expat destination.

The OECD Better Life Index notes that Slovenia outperforms the global average in safety. It found that 91% of people in the country feel safe walking alone at night, and that the homicide rate is far below the OECD average.

For expats moving with families, Brittany McAnally, who lived in Slovenia for a year with her family, told Business Insider that Ljubljana, the picturesque capital, feels especially safe for raising kids.

8. Denmark

Denmark came in eighth.

Ilana Buhl, an American teacher who moved to Denmark in 2018, told BI she feels much safer there, both as a woman and in terms of gun violence.

Beyond safety, Buhl said she enjoys a significantly better work-life balance— a core aspect of Danish working culture, where long summer vacations are standard and employees receive at least five weeks of paid leave a year.

7. Portugal

Portugal, already a hub for digital nomads, came seventh.

The European nation is drawing in North Americans, who praise its affordable healthcare, quality of life, and work-life balance.

The Global Peace Index 2024 ranked it seventh in the world for safety, noting high levels of political stability and very low levels of violent crime.

6. Switzerland

Switzerland is famously politically neutral, meaning there's little risk of it being involved in an international conflict. This likely factored into its ranking.

The Global Peace Index notes that there's a low risk of violent crime, political instability, or political terror within the country.

Expats generally earn well in Switzerland, but a 2024 study by consulting firm Mercer found that Swiss cities, including Zurich, Geneva, Basel, and Bern, are among the most expensive cities in the world to live in as an expat.

Mercer ranked Zurich as 2024's most liveable city, thanks in part to its public services and low crime rates.

5. Singapore

Fifth on William Russell's ranking of the safest places for expats is Singapore.

Although it's one of the world's most expensive cities, HSBC Expat says international workers are still drawn to the city-state by its high salaries, opulent lifestyles, and convenient location for travel across Southeast Asia.

Healthcare there also ranks among the best in the world, although it can be expensive.

William Russell noted that Singapore also has efficient infrastructure and is one of the most digitally secure countries in the world.

4. New Zealand

New Zealand, fourth on William Russell's ranking, is making moving there easier for expats, investors, and digital nomads.

In the past few weeks, it has relaxed both its "golden visa" and visitor visa rules.

Although the country has recently faced economic headwinds, it is a peaceful place with a low crime rate and plenty of opportunities for expats in engineering, medicine, and other industries.

That said, William Russell noted that there are environmental safety issues, such as rising sea levels leading to more flooding in coastal areas.

3. Austria

Austria came third in the ranking.

William Russell said that factors that make it safe for expats include a strong public health system, an extensive rail system, and a low rate of serious crimes.

In 2024, Vienna, Austria's capital, was number two in Mercer's ranking for most liveable cities for expats. Meanwhile, The Economist Intelligence Unit named it the most liveable city in the world in 2024, for the third year running.

2. Ireland

Coming in second in the ranking, William Russell attributed Ireland's safety for expats to factors such as a downward-trending crime rate, a tolerance of migrants, and a strong and stable economy.

Alexis McSparren, an American who moved to Ireland, told BI that she has never felt safer than she does living in Dublin, highlighting, in particular, the strict gun laws.

1. Iceland

Top of the ranking was Iceland.

The European nation has a significant expat population. According to Statistics Iceland, over 20% of its population was born overseas. Safety, no doubt, plays a big part.

Iceland has topped the Global Peace Index list since 2008, thanks to its low crime rate and its avoidance of international conflicts.

While five expats told BI in 2024 that expensive groceries and the limited daylight in winter can be challenging, the country's stunning scenery, high-quality public services, and safety continue to attract international workers.

William Russell also said that the country topped its ranking owing to factors such as environmental safety — there are few dangerous wildlife and excellent air quality.

• Venice is doubling a last-minute tourist fee for daytrippers.
• The fee, first introduced in 2024, is an attempt to manage overtourism and better preserve the city.
• Venice's tourism chief says other destinations have sought advice on copying the measures.

Venice has doubled its last-minute visitor fee, with the city's tourism chief saying its success has prompted other overcrowded tourist destinations to consider similar measures.

In 2024, the Italian city introduced a €5 charge for visitors on select peak-season dates, in an attempt to curb overtourism.

The fee will remain €5, a little over $5, for those who pay at least four days in advance, but is set to rise to €10 for last-minute bookings.

Fines for not registering range from the equivalent of $52 to $310.

Simone Venturini, the city's tourism councilor, said at a recent tourism fair that other destinations overrun by tourists are looking to follow Venice's lead, something the city's tourism office corroborated.

"We confirm that several institutional bodies, both in Italy and internationally, have contacted the City of Venice to gain a deeper understanding of the Access Contribution mechanism," a spokesperson for Venice's tourism office told Business Insider in an email.

They added that discussions have taken place with representatives from Kyoto in Japan, Formentera in Spain, and the Swiss city of Zermatt, "in addition to various Italian local authorities."

Venice's tourism office said the visitor fee generated €2.4 million in revenue for the city in 2024, about $2.5 million.

It also credited the entrance fee with preventing Venice from hitting previous peak visitor numbers on certain high-traffic days.

The charge applies to daytrippers entering Venice's historic center between 8:30 a.m. and 4 p.m., with exemptions for overnight guests, local residents, students, and those visiting relatives.

In 2024, it was enforced on 29 high-traffic days; in 2025, that will expand to 54 days, covering periods from April to July.

At the tourism fair, Venturini said Venice was a "pioneer" in tackling overtourism.

He said the pilot program had worked and that the goal in 2025 remained the same: To "create a new system to manage tourist flow and disincentivize daytripper tourism in several periods, in line with the delicate and unique nature of the city."

Venice's tourism office said in the statement provided to BI that while the fee led to more people booking visits in advance, the measure was insufficient by itself to prevent overtourism.

Venice has also tried other means, including limiting tourist groups to 25 people and banning loudspeakers on tours.

• A private jet owned by Mötley Crüe's front man crashed in Scottsdale, Arizona. He wasn't on board.
• The crash occurred during landing at Scottsdale Airport, and resulted in one death.
• An airport official said the plane's left main gear appeared to have failed during landing.

A private jet owned by the front man of heavy metal band Mötley Crüe crashed into a parked plane in Scottsdale, Arizona, on Monday, killing one person.

Vince Neil, the band's lead vocalist, was not on the Learjet Aircraft 35A at the time, which veered off the runway at Scottsdale Airport while attempting to land, Worrick Robinson IV, Neil's legal representative, said in a statement.

The band's statement said that two pilots and two passengers were onboard.

During a press conference on Monday, Dave Folio, a public information officer for Scottsdale's Fire Department, said five people were affected by the crash.

He said one person had died, two were transported to local trauma centers, and one to a local hospital. He didn't give any details about the fifth person.

At the Monday press conference, Kelli Kuester, the airport's aviation planning and outreach coordinator, said the plane was arriving from Austin, Texas, and crashed into a parked Gulfstream G200 jet.

"It appears that the left main gear failed upon landing resulting in the accident," she said.

Lisa Borowsky, the mayor of the City of Scottsdale, confirmed in a statement provided to local media that at least one person had died.

In a now-deleted post on Mötley Crüe's social media account, reported by Forbes, the band said that a pilot of the jet was killed in the crash and that the band would "announce a way to help support the family of the deceased pilot."

The now-deleted post also said that Neil's girlfriend and her friend were on the plane and had suffered non-life-threatening injuries, per Forbes.

The legal representative for the band didn't immediately respond to a request for comment.

Scottsdale Airport said the runway was closed for several hours after the incident. The National Transportation Safety Board is investigating the crash.

In recent weeks, there has been a spate of aircraft disasters.

Last month, an American Airlines flight collided with a helicopter near Ronald Reagan National Airport in DC. Sixty-seven people died, including 64 passengers on the plane.

Days later, a medical transport jet carrying six people crashed in Philadelphia shortly after takeoff. The Federal Aviation Administration said there were no survivors.

Earlier this month, a Bering Air flight crashed in Alaska with 10 people on board. The US Coast Guard said there were no survivors.

• Whole Foods workers in a Pennsylvania store voted to unionize on Monday.
• They will join a local chapter of the United Food and Commercial Workers union.
• This is the first successful unionization push since Amazon acquired Whole Foods in 2017.

Workers at a Pennsylvania Whole Foods store voted to unionize on Monday, forming the first union at the grocery chain since Amazon acquired it in 2017.

Employees voted to join the local chapter of the United Food and Commercial Workers union, which represents more than 800,000 grocery store workers across the US and Canada.

The union said 130 workers at the flagship store in Philadelphia's Center City neighborhood voted in favor of union representation, while 100 voted against it.

"This fight is far from over, but today's victory is an important step forward," Wendell Young IV, the president of the local chapter of the union, said in a statement provided to Business Insider.

He added, "We are ready to bring Whole Foods to the bargaining table to negotiate a fair first contract that reflects the workers' needs and priorities."

UFCW International President Marc Perrone said that "companies must remember that grocery workers play an essential role by helping families put food on their tables."

"This win sends a powerful message to workers everywhere that when we stand together, we can take on even the largest corporations and win," he added.

Amazon acquired Whole Foods, which has 521 US stories and more than 105,000 employees, for $13.7 billion in 2017.

In a statement provided to media outlets, Whole Foods said it was "disappointed" by the result but added that it was "committed to maintaining a positive working environment in our Philly Center City store."

In the statement provided to BI, workers at the Whole Foods store said they "faced a relentless campaign of intimidation, misinformation, and anti-union tactics from Amazon and Whole Foods management."

"They underestimated our determination and unity," the group said.

National Labor Relations Board records show the workers filed to hold a union election in November 2024.

In a statement announcing the petition, workers at the Philadelphia store said they hoped unionization would help them achieve fair compensation and better working conditions.

In 2002, workers at a Whole Foods store in Madison, Wisconsin, voted in favor of a union, but it was dissolved the following year.

Last October, Whole Foods said its sales had increased by more than 40% since Amazon's acquisition, but it didn't provide a dollar amount.

• The UAE ranks second in the world for average hours worked a week.
• Employees there work an average 51 hours a week, far beyond the US average of 38.
• Expats in Dubai, the UAE commercial hub, told BI their work is intense but richly rewarded.

"I've been on a treadmill before on my work phone, doing barrier options," said Nick Fowler, 33, a British man who moved to the United Arab Emirates two years ago. "It can get a bit ridiculous sometimes."

(Barrier options are a financial product common in asset management, Fowler's industry.)

He is one of the millions of foreigners drawn to Dubai by its year-round sunshine, tax-free income, and its abundant luxury.

But it comes with a catch: they end up working more than nearly anyone else in the world.

The UAE ranks second globally for the highest average weekly working hours per employed person, according to the International Labour Organization.

Employees in the UAE work an average of 50.9 hours a week, far exceeding the 38-hour average in the US and the 35.9-hour average in Fowler's native UK.

The top spot goes to the reclusive Himalayan nation of Bhutan, with 54.4 hours.

Fowler told Business Insider that his typical workday starts around 8 a.m. and ends at 6:30 p.m., often without a proper break as he eats lunch at his desk. His day rarely ends there.

"I've been on dates before [where] I've had to send emails," he said, "and colleagues have rung me when I've sat down to eat dinner."

Luxury, but at a cost

Patrick James, 32, also from the UK, moved to Dubai six years ago.

He had been there on vacation before and was largely unimpressed, but was still drawn to the city by its financial opportunities.

He told BI he was offered a salary twice what he earned as a teacher in London.

While his teaching job in London often ran from 6 a.m. to 3 p.m., a recent teaching role in Dubai had him working 12 to 14 hours a day.

Across a five-day week with a shorter Friday, that puts him around 50 hours a week, close to the UAE norm.

"My child is two now," he said. "I wasn't seeing him. He'd wake up, I'd leave at home, and he'd be asleep, and I'd get home, and he'd be asleep."

For a short while, James could justify the sacrifice. "You're working, you're grinding, you're saving your money, and then you get to go on these luxurious holidays," he said.

Eventually, it became too much. Last March, he switched to a remote role with a Japanese health and wellness company, giving him the flexibility to set his own hours while still in Dubai.

James said that he believes that so many expats in Dubai just accept the long hours because of the competitiveness of its job market.

"If you are not good at your job, they'll get rid of you and get someone else," he said.

A highly competitive market

"It is commonly known that in the expatriate market in the UAE, supply is higher than demand," Fiona Robson, a professor of human resources management at Heriot-Watt University, Dubai, told BI.

"This can lead to less power for expatriates if they can be replaced easily, particularly if specialist skills are not needed at the point of recruitment," she added.

For some, the pressure to perform can feel overwhelming. Eigher Noceda, a Filipina who spent seven years in Dubai working in sales, felt an unspoken expectation to exceed her contractual hours.

"They will not say no if you like to overwork," she said. "If you want to stay after six, it's up to you. If you work on Saturday, they'll not tell you, 'Oh, why are you here? You should go home.'"

Eventually, Noceda realized that Dubai's work culture wasn't for her.

"If you always like to work and you always have the energy to network and really work your ass off, this is the place for you," she said.

But for Noceda, having a work-life balance was more important, so she moved to Italy, where she said she found a work culture that suited her better.

A 'high-context culture'

Rizwan Tahir, professor of International Business at the Rochester Institute of Technology in Dubai, attributes the UAE's intense work culture, in part, to its "high-context culture," which relies on implicit understandings and unspoken expectations.

Unlike "low-context cultures" in Western countries like Italy — where employees typically adhere strictly to contracts — Tahir said employers in high-context cultures may expect longer hours, additional responsibilities, and availability outside regular work hours, even if not explicitly outlined in contracts.

Tahir highlighted that this dynamic is particularly prevalent in the UAE's private sector, where expatriates form the majority.

"The expectation of long working hours is often deeply ingrained, with many expatriates feeling pressure to demonstrate commitment and loyalty through their availability," he said.

Tahir said: "This cultural difference can lead to misunderstandings, increased stress, and significant challenges in maintaining a healthy work-life balance for expatriates."

Despite the challenges, for some, the trade-offs are still worth it.

Fowler, the British expat in finance, feels the rewards outweigh the sacrifices.

Thanks to his work in Dubai, he has been able to afford a sports car, live alone, and travel extensively.

He said: "I have a much better life here than I had in London by a long way."

• New Zealand is easing visitor visa rules to allow tourists to work remotely while there.
• The country has faced economic headwinds, with a recession and rising unemployment in 2024.
• The digital nomad initiative aims to boost tourism, a vital industry for New Zealand's economy.

New Zealand's government is relaxing visa requirements to allow tourists to work remotely while in the country, in a bid to boost its struggling economy.

Starting Monday, tourists will be allowed to work remotely for a foreign employer while vacationing there, as part of a new "digital nomad" initiative.

"The change is part of the Government's plan to unlock New Zealand's potential by shifting the country onto a faster growth track," the country's economic growth minister, Nicola Willis, said in a joint statement.

Last year, New Zealand's economy faced significant challenges, with the OECD describing its economic momentum as "weak."

In the third quarter, New Zealand sank into a technical recession, and in November unemployment rose to a nearly four-year high.

New Zealand experienced the largest GDP contraction among developed nations in 2024, Paul Bloxham, HSBC's chief economist for New Zealand and Australia, told RNZ.

The relaxation in rules aims to bring in digital nomads, who have already flocked to countries such as Spain, Portugal, and Malta.

Many countries are targeting this market of often affluent young people. Twenty-nine other countries offer residence visas for remote workers, or "digital nomad visas," Business Insider reported last year.

"Making the country more attractive to 'digital nomads' — people who work remotely while traveling — will boost New Zealand's attractiveness as a destination," Willis said in the statement.

Tourism, once New Zealand's largest export earner before the COVID-19 pandemic, remains a vital industry for the country. Now the second-largest earner, it generates billions of dollars annually and supports nearly 200,000 jobs, Willis said.

Louise Upston, New Zealand's Minister for Tourism, said in the statement that digital nomads are a "brand-new market of tourist" that New Zealand can tap into.

She said they have the potential to spend more time and money in the country, including during the "shoulder season," when fewer tourists traditionally visit.

"Many countries offer digital nomad visas and the list is growing, so we need to keep pace to ensure New Zealand is an attractive destination for people who want to 'workcation' abroad," Upston said.

The rules have been relaxed for all visitor visas, including those for tourists, family visits, and partners or guardians on longer-term stays.

"This Government is committed to supporting a smarter, efficient and predictable immigration system to grow our economy," Erica Stanford, New Zealand's immigration minister, said.

However, New Zealand's Immigration Department urged digital nomads who intend to work remotely in the country for more than 92 days in a 12-month period to be aware of the tax implications.

• A union boss said Elon Musk was unfairly criticizing the federal workforce.
• Musk has pushed for an RTO for federal workers, saying the status quo is "not fair."
• Randy Erwin, the union leader, said Musk was too dismissive of their contributions.

The head of a major union of federal employees said he didn't think Elon Musk understood who federal workers are or what they do.

"I don't think he knows the first thing about federal government," Randy Erwin, the national president of the National Federation of Federal Employees, told Business Insider in an interview.

"Frankly, I don't think he cares," he added.

Erwin spoke with BI after President Donald Trump signed an executive order Monday mandating that federal government employees return to the office.

It gave effect to an idea long championed by Musk and his Department of Government Efficiency.

In November, Musk, appointed to head up the new enterprise, laid out a vision of a return-to-office mandate for federal workers.

In a joint Wall Street Journal op-ed with Vivek Ramaswamy, who has since exited DOGE, the pair outlined their plans to cut costs and downsize the federal government.

"Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome," they wrote.

"If federal employees don't want to show up, American taxpayers shouldn't pay them for the Covid-era privilege of staying home," they added.

On Tuesday, Musk wrote on X, the platform he owns, that "pretending to work while taking money from taxpayers is no longer acceptable."

In another post, he said the executive order was about "fairness."

He wrote: "It's not fair that most people have to come to work to build products or provide services while Federal Government employees get to stay home."

Erwin said the image of the work-shy civil servant was untrue.

"There's this myth that federal workers aren't coming to work," Erwin said, describing the talking point as "a bunch of political BS."

A report by the Office of Management and Budget in August said that most of the 2.3 million civilians employed by the federal government already work in person, with 54% on-site and 10% fully remote.

Erwin said he believes Musk views federal workers as "innovation-blocking bureaucrats."

"I've got 110,000 members. Not a single one would fit that description," he said. "They're out there, spread across the country, providing valuable services to the American people."

Erwin added: "I don't think he knows the first thing about the federal workforce, who they are, where they are, and the valuable services that they provide."

He was joined by another union leader in condemning the RTO mandate — Everett Kelley, who leads AFGE, the largest federal employee union, with some 800,000 members.

In a statement, he described remote work as "a critical tool for federal agencies to maintain continuity of operations in emergencies, increase disaster preparedness, and improve efficiency."

Erwin told BI that working from home was part of the appeal of government jobs, which typically pay less than private-sector ones. Without it, it would be harder to retain talent, he added.

"When you can't make anywhere near what you could be making in the private sector, some family, flexible work policies become a very, very important thing," he said.

• US federal agencies were told to put their workers in DEI roles on leave by 5 p.m. ET on Wednesday.
• President Donald Trump on Monday signed an executive order terminating DEI roles and initiatives.
• It's part of a wider right-wing pushback against DEI, which Trump says is discriminatory.

US federal agencies have been told to put their workers in diversity, equity, and inclusion roles on paid leave as DEI initiatives, offices, and programs are dismantled under the Trump administration.

CBS News obtained an Office of Personnel Management memo, dated Tuesday, that said all federal employees in DEI roles should be placed on leave by 5 p.m. ET on Wednesday.

Agencies were instructed to tell those in DEI offices that their leave would be "effective immediately" as the agency works to wind down DEI initiatives.

President Donald Trump signed an executive order on Monday, his first day in office, declaring the termination of DEI "mandates, policies, programs, preferences, and activities" in the federal government.

The order required agency, department, and commission heads to work with the attorney general and the directors of the Office of Management and Budget and the Office of Personnel Management to take action within 60 days.

As well as the termination of DEI roles, the order also called for the termination of "environmental justice" offices.

Karoline Leavitt, the White House press secretary, confirmed the memo's authenticity.

"To every reporter asking about this: I can gladly confirm!" she wrote on X.

The memo also urged heads of departments and agencies to immediately take down all "outward facing media," including social media and websites, of DEI offices and cancel any related training.

It also said the heads of departments and agencies needed to report to the Office of Personnel Management by midday ET on Thursday detailing steps taken to implement the memo, including by providing lists of DEI offices, personnel, and any related contracts as of Election Day 2024.

Additionally, the department and agency heads were asked to submit "reduction-in-force" plans for DEI offices to the OPM by the end of the month.

Trump's executive order accused the Biden administration of forcing what it called "immoral discrimination programs" into "virtually all" aspects of the federal government.

The move is part of a wider effort to clamp down on DEI, which has increasingly become the subject of criticism in conservative circles.

On Tuesday, the White House issued a separate presidential order ending DEI-based hiring in the Federal Aviation Administration, including hiring that considers race, sex, or disability.

Trump said in his inauguration speech on Monday that the US would "forge a society that is colorblind and merit-based."

He also announced that it would become official US policy that there were "only two genders: male and female."

Correction: January 22, 2025 — An earlier version of this story misstated the name of the federal agency affected by an executive order Tuesday. It's the Federal Aviation Administration, not the Federal Aviation Authority.

• Trump signed an executive order requiring federal government employees to return to the office.
• Union leaders opposed the mandate and said it was based on misconceptions about federal workers.
• They also said telework was crucial for recruiting talent and emergency preparedness.

Leaders of unions representing federal government employees say President Donald Trump's return-to-office mandate won't make the government more efficient — and could have some unintended consequences.

Randy Erwin, national president of the National Federation of Federal Employees, or NFFE, and Everett Kelley, national president of the American Federation of Government Employees, or AFGE, said the RTO mandate would make the government less effective.

"They're trying to score political points by insinuating that people on telework aren't coming to work when nothing could be further from the truth," Erwin told Business Insider in an interview.

If not for telework and other family-friendly work methods, the federal government "would not be able to recruit and retain the talent that it needs," Erwin said. The NFFE is the oldest union in the US and represents more than 110,000 federal workers.

"When you can't make anywhere near what you could be making in the private sector, some family, flexible work policies become a very, very important thing," he said, adding that some current federal workers may also choose to leave.

Kelley, who leads AFGE, the largest federal employee union representing 800,000 members, also said telework was important to attracting and retaining top talent within the federal government.

"Providing eligible employees with the opportunity to work hybrid schedules is a key tool for recruiting and retaining workers in both the public and private sectors," Kelley said in a statement.

Erwin told BI the mandate suggested a lack of understanding about how the federal government works and that "there's this myth that federal workers aren't coming to work."

An August report from the Office of Management and Budget found that about 10% of civilian workers across two dozen agencies worked remotely without expectations that they would regularly work in the office.

Erwin said comments from the Trump administration, including Elon Musk, who is leading the Department of Government Efficiency, or DOGE, have misrepresented the federal workforce.

"I don't think he knows the first thing about the federal workforce, who they are, where they are, and the valuable services that they provide," he said of Musk, adding, "They're making everybody sound like some innovation-blocking bureaucrat."

Erwin said most federal employees are not based in Washington, DC, and are nationwide. Less than a fifth of the federal workforce in the Office of Personnel Management database lives in DC or the nearby states of Maryland and Virginia, a recent Pew analysis found.

Kelley also said lawmakers and Trump's transition team "spent months exaggerating the number of federal employees who telework and accusing those who do of failing to perform the duties of their jobs."

"The truth is that less than half of all federal jobs are eligible for telework, and the workers who are eligible to telework still spend most of their work hours at their regular duty stations," he added.

Both Erwin and Kelley said telework was also essential to ensuring the federal government's continued smooth operation in a state of emergency.

Erwin said that after September 11, the ability to telework was considered essential for the federal government, adding, "It is only very recently that telework has been frowned upon in the federal government." He said the COVID-19 pandemic showed how the ability to telework enabled the government to continue operating relatively smoothly.

Kelley said remote work has been "a critical tool for federal agencies to maintain continuity of operations in emergencies, increase disaster preparedness, and improve efficiency."

He also said hybrid work has been so successful that many agencies have consolidated or sold off office space that's expensive to maintain, "meaning there may no longer be enough office space to accommodate an influx of on-site workers."

Some federal employees who are union members have collective bargaining agreements that explicitly allow for remote or hybrid work. Erwin said an executive order would not override those agreements, at least for as long as they are active.

Erwin said the return-to-office mandate showed the "problem with governing by completely political, manufactured talking points."

"They're going to force people back into the office, and it's not going to make people more productive for the American taxpayer," he said.

The White House did not immediately respond to a request for comment from Business Insider.

• Marlene Engelhorn joined protesters in Davos ahead of the World Economic Forum.
• Engelhorn, heiress to a German fortune, has been a vocal advocate for taxing the superrich.
• She told Business Insider why she is protesting against the World Economic Forum annual meeting.

Protests against the World Economic Forum in Davos began on Sunday, with the wealthy heiress of a German business empire among those participating.

As some of the wealthiest and most powerful people in the world gathered in Switzerland, hundreds of protesters blocked traffic, while others marched, holding signs with messages like "Economy for all" and "Tax the rich."

Marlene Engelhorn, who inherited a fortune as the descendant of a 19th-century German industrialist, was among those marching through Davos, calling for higher taxation on the superrich.

In an interview with Business Insider, Engelhorn said that Davos sees billionaires and entrepreneurs who can afford to be there talking to world leaders, while the people "who are going to be affected by the decisions" are left out of the conversations.

The rich, she said, "already hold too much power."

"The problem we are facing here is that this is called the World Economic Forum, but they hide away in the Swiss Alps, protected by the military and the police, in order to talk about things where no decisions are being made," she added.

Engelhorn's ancestor founded BASF, which would become the world's largest chemical producer.

She received an inheritance of about $27 million after her grandmother Traudl Engelhorn-Vechiatto died in September 2022. According to Forbes, Engelhorn-Vechiatto's net worth was $4.2 billion at the time of her death.

However, Engelhorn decided to redistribute her inheritance, sending out invitations to randomly selected Austrians to help her choose how best to share it.

Fifty people were chosen to decide how the bulk of the money would be spent, through an initiative called the "Good Council for Redistribution" (Guter Rat für Rückverteilung in German).

Last June, the group decided to distribute roughly $27 million to 77 charitable initiatives, including several women's shelter associations, children's charities, and climate crisis organizations.

The largest sum, of about $1.75 million, went to an environmental group. Other beneficiaries included the World Inequality Lab.

Engelhorn has advocated taxing people like her more heavily. Austria, for example, doesn't have an inheritance tax.

"I never worked for it," she told Le Monde in November 2022.

Engelhorn also took part in protests in Davos last year, and is the cofounder of a group called Tax Me Now, which lobbies for higher taxes on the superwealthy.

Pointing to the US, Engelhorn told BI: "We see what happens when wealth and politics become too intimate. The new government in the US, the cabinet, as it is presented as of now, shows up quite clearly. Thirteen of 25 people are billionaires."

President-elect Donald Trump's cabinet is expected to be the wealthiest in history.

"They're so far away from the actual population," Engelhorn said.

Correction: January 21, 2025 — This story was updated to clarify one of Marlene Engelhorn's positions. She supports inheritance taxes in Austria but is not calling for specific amounts of her inheritance to be taxed. She has separately pledged to give away at least 90% of her inheritance.

• Donald Trump has been sworn in as president once again.
• He signed a slew of executive orders on Monday.
• They included establishing DOGE and declaring a "national energy emergency."

A political comeback is complete: President Donald Trump and Vice President JD Vance were sworn into office in a ceremony beneath the Capitol Rotunda on Monday.

"The golden age of America begins right now," Trump said in his inaugural speech.

A host of dignitaries — including lawmakers, foreign leaders, and members of Trump's coming cabinet — were on hand. Tech leaders in attendance included Elon Musk, Jeff Bezos, Apple CEO Tim Cook, Meta CEO Mark Zuckerberg, OpenAI CEO Sam Altman, and Google CEO Sundar Pichai.

In a series of speeches throughout the day — his inauguration speech at the Rotunda, a more freewheeling speech in Emancipation Hall at the Capitol, and a third at Capital One Arena — Trump previewed a flurry of forthcoming actions, including declaring a national emergency at the southern border and establishing an "External Revenue Service."

At Capitol One Arena, he signed several executive orders, including one that rescinded 78 Biden-era executive orders and actions. Later on Monday, in the Oval Office, he signed several more, including pardons for January 6 rioters.

Here's what Trump has pledged to do on day one — and what he's actually done.

Energy and environment

Trump has signed an executive order withdrawing the United States from the Paris climate accords, which he also did when he took office in 2017.

Increase fracking and oil drilling: Trump signed an executive order declaring a "national energy emergency" and another designed to ease permitting processes.

Trump's Interior Department will have the power to offer new leases for drilling and natural-gas extraction on federal lands. A last-minute Biden administration ban on deep offshore drilling is set to complicate those actions. While the White House can speed up approval and auction off more leases, it's ultimately up to the energy industry to expand production. Trump also wants to revive canceled projects such as the Keystone XL pipeline that companies have since dropped.

Government restructuring

Remove civil-service protections for federal workers: Trump has said he'll return to his sweeping first-term policy that would have made it easier to fire tens of thousands of federal workers.

On Monday, he signed an executive order instituting a temporary hiring freeze, saying it was "to ensure that we're only hiring competent people who are faithful to the American public." The order says the hiring freeze doesn't apply to the military or "to positions related to immigration enforcement, national security, or public safety."

Trump also signed a separate order requiring federal employees to return to in-person work immediately.

Create the Department of Government Efficiency (DOGE): Trump signed an executive order establishing DOGE in the Oval Office on Monday, saying Elon Musk would be "getting an office for about 20 people" in the executive branch.

The order says DOGE will implement the president's push for government efficiency "by modernizing Federal technology and software to maximize governmental efficiency and productivity."

As part of the order, the US Digital Service is set to be renamed to the US DOGE Service. The US Digital Service was created by then-President Barack Obama in 2014 and provided IT consulting services to federal agencies.

Trump's order also includes the formation of DOGE teams at each federal agency. The order says each team will have at least four members, which could consist of a team lead, an engineer, a human-resources specialist, and an attorney.

Shortly after noon on Monday, several organizations filed lawsuits in a bid to get DOGE to comply with a 1972 law. In the meantime, congressional Republicans eagerly welcomed Musk's efforts and have set up ways to coordinate with DOGE.

Trade

Trump didn't impose any tariffs on Monday, saying his planned tariffs on Canada and Mexico would be imposed in February. He didn't specify a date for his planned tariffs on China, saying he was "going to have meetings and calls" with the country's leader, Xi Jinping.

Trump said on Monday that he was considering imposing a universal tariff on all goods entering the US. He added that while the US was "not ready" for a universal tariff, it could be implemented rapidly.

"You put a universal tariff on anybody doing business in the United States, because they're coming in and they're stealing our wealth," Trump said.

Twenty-five percent tariffs on all Mexican and Canadian goods: Just before Thanksgiving, Trump said he'd levy significant tariffs on the US neighbors because of illegal immigration.

Thanks to Congress, presidents can impose tariffs without legislative action. In his first term, Trump used a law that allows the president to impose them because of national security emergencies. President Joe Biden even expanded some of those duties.

A 60% tariff on all Chinese goods: On the campaign trail, Trump discussed raising tariffs to as high as 60% on all Chinese goods. He's also mused about other wide-ranging tariffs.

Trump has long complained that the US trade deficit with China is too large. The influx of deadly fentanyl, of which the Drug Enforcement Administration has said China is a major source, has only exacerbated those tensions.

The creation of an external revenue service: In his inaugural speech, Trump said he'd establish a new agency to collect tariffs and other foreign fees. "It will be massive amounts of money pouring into our treasury coming from foreign sources," Trump said.

It's unclear exactly how this service will be set up. Customs and Border Protection is already responsible for collecting customs, and only Congress could set up a new agency.

Effectively pulling the US out of the global tax deal: On Monday, Trump signed an executive order declaring that the "Global Tax Deal has no force or effect in the United States."

This move withdraws US support for the international tax agreement, which aims to establish a 15% global corporate minimum tax. Congress never passed measures to comply with the deal, leaving participating countries able to impose top-up levies on some US multinationals.

The order also calls on officials to look into "options for protection from extraterritorial tax measures."

Crackdown on illegal immigration

Trump signed several executive orders related to immigration on Monday, including declaring a "national emergency" at the southern border.

He also signed an executive order that aims to revoke birthright citizenship, setting up a legal challenge over the meaning of the 14th Amendment.

Trump and his allies have argued that the amendment shouldn't be interpreted to apply to the children of people living in the country illegally. Multiple groups have said they'd challenge any such executive action in court.

He also signed an executive order designating drug cartels as foreign terrorist organizations.

Trump said numerous times during the campaign that starting on his first day, he'd take action to begin "the largest deportation operation" in the nation's history.

In his inaugural speech, he said he'd "begin the process of returning millions and millions of criminal aliens back to the places from which they came."

Later, in the Oval Office, Trump said Immigration and Customs Enforcement raids would start soon, though he didn't specify a time.

Crime and justice

Pardons for January 6 rioters: Trump signed an executive order pardoning roughly 1,500 people who were involved in the January 6, 2021, Capitol riot.

The order Trump signed also commuted the sentences of 14 other individuals, who included members of far-right extremist groups such as the Oath Keepers and the Proud Boys.

Culture war

Trump said in his inaugural address that it would "henceforth be the official policy of the United States government that there are only two genders, male and female."

The president signed an executive order in the Oval Office that an aide described as "protecting women from radical gender ideologies," which included preventing federal funds from being used to "promote gender ideology" and changes in federal policy to rigidly define terms such as "sex," "man," and "woman" as binary phrases.

Trump also took broad aim at diversity, equity, and inclusion policies and pro-LGTBQ+ policies put in place by the Biden administration. In another order, he ended all federal DEI initiatives and terminated all DEI-related and "environmental justice" offices and positions, such as "chief diversity officer" positions, and all "equity" actions, initiatives, or programs and "equity-related" grants or contracts.

Another executive order renamed the Gulf of Mexico to the Gulf of America, a change that Senate Democrats earlier this month indicated they'd be willing to support if the president worked with them on an economic plan to reduce the cost of living for average Americans.

TikTok ban

Trump signed an executive order halting the ban on TikTok for 75 days. While signing the order, Trump told reporters that TikTok could be worth $1 trillion and that the US should own half of it.

According to the divest-or-ban law passed by the Senate in April, TikTok had to cease its US operations on January 19 unless its China-based owner, ByteDance, divested itself from its US holdings.

Correction: January 20, 2025 — An earlier version of this story misstated Jeff Bezos' current position at Amazon. He is the founder and executive chairman, not the CEO.

• Tal Chaimi was abducted on October 7, 2023. His body is being held in Gaza.
• Udi Goren, his cousin, is campaigning for his remains to be repatriated to Israel.
• But Goren fears the cease-fire deal may not last long enough to bring them back.

The cousin of an Israeli hostage who was abducted and killed and whose body is being held in Gaza said he is fearful that the cease-fire deal may not last long enough to ensure the return of his relative's remains.

"This is not the end of the road," Udi Goren, the cousin of Tal Chaimi, said in a call with reporters from outlets including BI.

Chaimi was among the 251 people kidnapped from Israel and taken to the Gaza Strip during the October 7, 2023, terror attack.

Chaimi, a civil engineer, was defending Kibbutz Nir Yitzhak when he was abducted. His wife was two months pregnant with their fourth child at the time.

Initially listed as missing, Israeli authorities confirmed months later that Chaimi had been killed and his body was being kept hostage.

Hamas and its allies still hold 98 hostages, an Israeli government spokesperson said Tuesday, though at least 34 of them are believed to be dead.

On Wednesday, the White House announced that Israel and Hamas had reached an agreement on a cease-fire intended to halt the fighting in Gaza — which has killed tens of thousands.

The agreement would facilitate the release of some of the remaining hostages, though it hit a roadblock on Thursday over its ratification, with Israel saying Hamas had created a last-minute crisis.

The deal, structured in phases, is expected to include the release of 33 hostages in the first stage, the majority of them women, children, older people, and those who are sick.

"My cousin Tal is not going to be among these 33," Goren said.

The second phase would see the release of the remaining living hostages, and the third phase would see the remains of dead hostages, including Chaimi, returned to their families.

However, reaching that final phase will be challenging.

"Everything can go wrong along the way," Goren said. "Not just that the deal might actually fall through, with the implementation of each step, but also moving from one step to another."

Goren said that the last couple of days have been incredibly stressful, and that his family has found themselves in a "whirlwind of emotions" — excited for families who may soon be reunited with their abducted relatives, but nervous about the prospect of Chaimi's return.

He said he has concerns about whether Hamas might, for example, say they can't locate his cousin's body.

"This is just the beginning of a new phase of our struggle," he added. "The fact that this is going to take so long, it's going to be excruciating."

• Israel's government approved a cease-fire and hostage deal with Hamas this week.
• The cease-fire began on Sunday as Hamas released its first few hostages.
• 3 hostages returned to Israel, where they were treated at a hospital near Tel Aviv.

A cease-fire in the war in Gaza went into effect on Sunday morning after an almost three-hour delay.

Israeli Prime Minister Benjamin Netanyahu's office announced that the cease-fire would commence at 11:15 a.m. local time.

The announcement came after Israel said it had received the names of hostages due to be released on Sunday.

Under the terms of the agreement, the cease-fire will last six weeks. During this period, 33 Israeli hostages are scheduled to be exchanged for 737 Palestinian prisoners.

The first three Israeli hostages — Emily Damari, Romi Gonen, and Doron Steinbrecher — were released on Sunday. Israel said the three women were returned to Israeli territory and underwent an initial medical assessment.

President Joe Biden had announced the deal in a farewell address earlier this week.

"After eight months of nonstop negotiation, my administration — by my administration, a ceasefire and a hostage deal has been reached by Israel and Hamas, the elements of which I laid out in great detail in May of this year," Biden said.

US officials helped broker the deal in Qatar.

In a statement on X on Saturday, Majed Al Ansari, a spokesperson for Qatar's Ministry of Foreign Affairs, confirmed that the cease-fire would begin on Sunday but advised caution to Gazans: "We advise the inhabitants to take precaution, exercise the utmost caution, and wait for directions from official sources."

How the cease-fire agreement could be implemented

The deal is set to include multiple phases.

The first stage is expected to include 33 hostages — most of whom are alive — released on "humanitarian" grounds, an Israeli spokesperson told reporters at a briefing. This will consist of women, children, older people, as well as hostages who are sick.

A second phase, which is still being worked out, would see a "permanent end" to the war, Biden has said.

The president added that this phase would include the release of the remainder of the living hostages, with the rest of the Israeli forces withdrawing from Gaza.

In the third phase, any remains of hostages who have been killed would be returned to their families, and a major reconstruction plan would be set in motion for Gaza.

So far, 117 hostages have been returned alive to Israel, including 105 freed as part of a prisoner exchange in November 2023.

The cease-fire deal intends to end the brutal conflict, which has seen large areas of Gaza destroyed and left the militant group severely battered. The Hamas-run health ministry says Israel's military offensive in the coastal enclave has killed more than 46,000 people. It does not distinguish between civilians and combatants.

Negotiations for a cease-fire deal have been ongoing for many months.

President-elect Donald Trump said his victory in November directly contributed to the deal coming to fruition. "We have achieved so much without even being in the White House," he wrote in a post on his Truth Social platform.

• California has banned undervalued and unsolicited property offers in fire-hit areas of Los Angeles.
• Gov. Gavin Newsom's executive order targeted speculators trying to exploit victims of the LA fires.
• The order covers areas like Pacific Palisades and Altadena, which have been devastated by the fires.

California just made it harder for predatory real estate investors to take advantage of victims of the Los Angeles fires.

On Tuesday, California Gov. Gavin Newsom signed an executive order temporarily banning unsolicited and undervalued offers for properties in specific Los Angeles County zip codes.

The order will be in place for three months, with the zip codes including areas such as Malibu, Altadena, Pasadena, and Pacific Palisades — some of the areas worst hit by the ongoing fires.

The LA wildfires, which have been raging for more than a week, have burned more than 40,000 acres, damaged over 12,000 structures, including many homes, and killed at least 25 people.

"As families mourn, the last thing they need is greedy speculators taking advantage of their pain," Newsom said in a press release.

The governor described how real estate speculators are exploiting the situation, saying he'd heard firsthand from victims who had "received unsolicited and predatory offers" from speculators offering cash far below the market value.

The executive order prohibits offers below the fair market value as of January 6, 2025 — the day before the fires started.

The press release said that the order was inspired by a similar measure issued by Hawaii Gov. Josh Green in August 2023, designed to protect residents after wildfires devastated much of Lahaina.

Violating the order during a state of emergency is a misdemeanor punishable by a fine of up to $1,000, six months in prison, or both.

Altadena, a "working-class neighborhood" hit hard by the Eaton fire, was cited as an example where undermarket offers could displace vulnerable residents with long-standing ties to the community.

"We will not allow greedy developers to rip off these working-class communities at a time when they need more support than ever before," Newsom said.

Even in areas like the Palisades, which has some of the most expensive real estate in the country, not all victims were wealthy.

A 22-year-old living in the Palisades, who works multiple jobs and said many in her building were blue-collar workers, told Business Insider about having to evacuate her rental apartment.

Concerns about exploitation in the rental market are also growing, as those who have lost their homes look to the future.

Jason Oppenheim of Netflix's "Selling Sunset" said that greedy landlords have been taking advantage of the fires by price gouging, or illegally hiking rents.

He told Business Insider: "This is a time for people to put aside any opportunities for financial gain. If anything, we should be giving back financially, not trying to be rewarded financially from the situation."

• An Israel-Hamas cease-fire and hostage deal is looking increasingly likely.
• US, Israeli, and Palestinian officials have expressed optimism that an agreement would be reached.
• White House officials say it could come before President Joe Biden leaves office on January 20.

An Israel-Hamas cease-fire and hostage deal is looking increasingly likely in the final days of President Joe Biden's administration, with officials from all sides expressing optimism that an agreement could soon be reached, potentially in the coming days.

The devasting conflict has been raging for 15 months, after Hamas-led militants launched a surprise terror attack on Israel on October 7, 2023, killing about 1,200 people and taking 251 people hostage.

Hamas and its allies still hold 94 of the hostages, including the remains of at least 34 who have died, according to Israel's government.

Meanwhile, Israel's military offensive in Gaza, which has left large parts of the Strip in ruin, has killed more than 46,000 people, according to Gaza's Hamas-run health ministry.

However, there's growing hope that the violence may soon come to an end, and that some hostages may be freed.

On Monday, Biden said cease-fire talks are "on the brink" of coming into fruition.

In the past, officials have expressed optimism about the prospect of a deal, only for negotiations to flounder.

"I have learned in many years of public service to never, never, never, ever give up," Biden said, adding that the US is "pressing hard" to close the deal.

During the speech in Washington, DC, Biden told reporters that the proposed deal would free the hostages, halt the fighting, provide security to Israel, and allow for the increase of humanitarian aid to Palestinians in Gaza.

On Monday, US Secretary of State Antony Blinken told MSNBC that a deal is "closer than we've ever been."

White House national security advisor Jake Sullivan also offered glimmers of hope on Monday, saying in an interview with Nexstar Washington that "we are so close to a cease-fire and hostage deal."

Sullivan called it a "distinct possibility" that the US would be able to get it across the line this week, "before President Biden leaves office."

President-elect Donald Trump will be inaugurated on January 20, 2025.

On Monday, Trump told Newsmax that he understands "there's been a handshake and they're getting it finished and maybe by the end of the week."

Basem Naim, a senior Hamas official, told The Washington Post on Monday that "significant progress" had been made in negotiations and that the mediators had a final draft agreement.

"We are so close," he told the outlet.

Qadura Fares, who leads the Palestinian Ministry of Detainees and Ex-Detainees Affairs, also suggested there was some movement in negotiations.

He told CNN on Monday that he was traveling to Qatar to advise negotiators on the list of hostages to be freed "in the event the deal materializes."

There's also optimism in Israel, with several local media outlets reporting that a deal was nearing completion.

Israeli Foreign Minister Gideon Saar said during a news conference on Monday that Israel had been working with both the outgoing Biden administration and incoming Trump administration to hopefully secure a deal "within a short time."

He said, "There is progress, I said it looks much better than previously."

Meanwhile, a group representing the families of the hostages said in a news release that representatives will meet with Israeli Prime Minister Benjamin Netanyahu on Tuesday.

"The families are hopeful that any deal, even a limited one, represents an important first step toward a comprehensive agreement," the Hostages and Missing Families Forum said.

It added, "They are grateful for every hostage who returns home and see each release as progress toward their ultimate goal: the return of all hostages — the living for rehabilitation and the deceased for proper burial."

• Jason Oppenheim said filming for "Selling Sunset" season nine is on hold because of the LA fires.
• He said the Oppenheim Group has instead focused on efforts to help those who have lost their homes.
• He told BI it's unclear if and how the fires will be addressed in the coming season.

Jason Oppenheim, the star of "Selling Sunset," said filming for season nine of the Netflix show has been paused as fires continue to devastate parts of Los Angeles.

In a conversation with BI, Oppenheim confirmed that filming had commenced and then abruptly halted because of the ongoing natural disasters.

Netflix has not officially announced that the show has been renewed for a ninth season, but several cast members, including Mary Bonnet, Chelsea Lazkani, and Amanza Smith, have suggested on social media that production was underway. The streaming platform declined to comment.

The fires, which have been raging for nearly a week, have burned more than 40,000 acres in Los Angeles County, displacing more than 100,000 residents and killing at least 24 people.

"I don't know if or how we'll address it on camera," said Oppenheim, who runs the real-estate brokerage the Oppenheim Group with his twin brother.

"We've paused filming so we can focus on our efforts right now," he added.

Oppenheim said the efforts include a donation drive at his office, financial contributions to the Los Angeles Police and Fire Departments, and a pledge to represent fire victims who have lost their homes for free.

In an Instagram post over the weekend, Oppenheim announced that the Oppenheim Group would refund any commissions it received from transactions involving fire victims.

The fires have destroyed more than 12,300 structures, local authorities have said.

Many celebrities, including some Oppenheim Group agents, have lost their homes in the fires, though Oppenheim did not specify whether any cast members were affected.

Oppenheim said representing people who've lost their homes has taken up considerable time and contributed to the pause in filming.

"We've had dozens and dozens of people reaching out to us that are needing houses for themselves and their family," he told BI. "Many of them are wanting to be in the same or near the same communities where they lost their homes."

This surge in demand for rental properties in areas like Santa Monica, Brentwood, and Pacific Palisades has led to price gouging, which Oppenheim is trying to draw attention to.

"Landlords that think they're going to get away with this will end up in a lawsuit where they'll be receiving a letter from an attorney in six months or three months, or whatever it is, and those tenants will be calling back that money," he said.

"So just this is a time for people to put aside any opportunities for financial gain," Oppenheim added. "If anything, we should be giving back financially, not trying to be rewarded financially from the situation."