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Tesla's ongoing dispute with striking workers in Sweden is set to get bigger as a Norwegian union threatened to block shipments.
Since October, Swedish unions led by IF Metall have tried to get Tesla to sign a collective labor agreement.
It's a common deal in Nordic countries, which would allow the unions to negotiate wages and working conditions with Tesla. According to The New York Times, around 90% of Sweden's employees are covered by collective agreements. Read more
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Startups are having a pretty grim year.
Just over $27 billion in venture funding was raised by the 3,200 startups that failed in 2023, The New York Times reported, citing figures from startup tracker PitchBook.
However, the $27.2 billion figure likely underrepresents the true scale of the cash burn, as many companies will have failed without any fanfare. And notably, the tally doesn't include major losses from public companies or those that were acquired. Read more
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A Ukrainian soldier says many of the troops fighting on the banks of the Dnipro River are inexperienced and were rushed through training to get there.
He told BBC News some of the "green" soldiers had only fired a gun a few times before arriving in combat, highlighting potential challenges for Ukraine to generate experienced manpower for front-line combat.
Russia, too, has sent poorly trained forces into battle throughout the war, attempting to fill gaps in the line. Convicts and freshly mobilized forces often received only a few weeks of training, reports said. Read more
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Wounded soldiers are being sent back to the trenches in an effort to capture a key Ukrainian city in time for President Vladimir Putin's annual phone-in, according to the families of soldiers.
Independent Russian outlet Important Stories obtained a letter addressed to Putin signed by more than 100 relatives of soldiers fighting around Avdiivka, in Ukraine's Donetsk region.
Family members of the 95411 unit, from Russia's Western Military District, said that on November 25 a directive was issued ordering soldiers with mild to moderate injuries to be sent back into the trenches, Important Stories reported. Read more
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The New York attorney general and the judge in Donald Trump's New York fraud trial have a standing invitation to visit Mar-a-Lago "any time," a defense witness for Trump testified on Tuesday.
Neither the judge in the non-jury trial nor New York Attorney General Letitia James has accepted the offer, which one of Trump's lawyers conceded in court Tuesday was "inappropriate."
Still. "If it gets any colder outside," the judge, state Supreme Court Justice Arthur Engoron, joked from the bench of his courtroom in chilly Manhattan, "I'll take him up on it." Read more.
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It looks like Bill Ackman isn't the only one who's mad at Harvard. Furious Harvard alumni and volunteers are paring down their donations over the university's response to the Israel-Hamas war, per Bloomberg.
On October 8, a group of Harvard student organizations signed a pro-Hamas letter blaming Israel for the Islamist militant group's terrorist attacks on Israel the previous day.
Claudine Gay eventually condemned Hamas' attack on October 10, noting in her statement that the controversial pro-Hamas letter did not represent the university or its leadership. Read more.
Former tech executive and women's advocate Sheryl Sandberg issued a global call to action to end rape as a weapon of war during a a summit on sexual violence at the United Nations Monday.
Sandberg was joined by a host of luminaries, including Hillary Clinton and Sen. Kirsten Gillibrand, for a UN summit on gender-based violence.
"Silence is complicity, and in the face of terror, we will not be quiet," Sandberg said in a speech at "Hear our Voices: Sexual and Gender-Based Violence in the October 7 Hamas Terror Attack," a UN event convened in New York City. Read more.
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The US Air Force on Thursday said its engineers in Utah are trying to restore two damaged F-35s by rebuilding them into one fully operational stealth fighter.
While military engineers have attempted similar restorations with other aircraft, the project to create what maintenance experts called the "Franken-bird" is the first among F-35s, the Air Force said in a statement.
One of the jets they're working on saw its landing gear collapse in June 2020, while the other F-35 suffered an engine fire in 2014. Read more
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Saudi Arabia's naval forces have come a long way in recent years, with Riyadh acquiring more advanced warships and demonstrating increasing willingness to participate in and even lead maritime task forces in the Persian Gulf.
The kingdom has long relied on US protection and military support, as the Saudi military has primarily focused on countering air and land threats and lacks well-trained personnel.
That change reflects Saudi investment in its own military in response to a growing array of threats in the region. Read more
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Russian troops are being injured by their own minefields because commanders won't share their locations, Ukraine's military claimed.
Per the Ukrainian account, the troops operating near the city of Kherson were not being told where the mines are on the grounds that it's classified information.
The report said that the situation there "continues to degrade Russian morale and combat capabilities." Read more
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While other generations are struggling to get by, boomers are seemingly living better than ever.
But while they're busy spending their money, their millennial children feel left behind. Leslie Dobson, a psychologist in Los Angeles, said many of her millennial clients were dealing with feelings of abandonment and resentment toward their boomer parents.
"It is a really common struggle," she told Business Insider. "You have children, and it feels even more like an abandonment that they've chosen their life over meeting their grandchildren and building these relationships." Read more
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With company in-office work mandates on the rise, many current employees are being asked to relocate to different cities to maintain employment.
For new hires, relocating to a new city may be a welcomed opportunity for higher income, a bigger title, or getting off the unemployment line.
Brandon Southern, a senior leader at Amazon, explains the problem is the company doesn't care about what you sacrificed along the way, and you may come to regret your decision if you're not careful. Read more
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A board firing a powerful, apparently successful CEO is rare in Silicon Valley. That CEO coming back after just five days is unheard of.
The botched coup of Sam Altman, the CEO of OpenAI, has seemingly reinforced his power.
None of the reasons floated for his firing — alleged dishonesty, alleged disregard for AI safety, or good old-fashioned internal politics — were serious enough to keep him out.
How has he done it? Those who know him point to his charisma and communication skills. Read more
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It didn't take long for former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York's Metropolitan Detention Center.
The disgraced founder of crypto exchange FTX has reportedly been keeping busy by swapping food items in exchange for services as he awaits sentencing on seven felony counts that include wire fraud and conspiracy to commit money laundering.
We now know that the new polished haircut he has been seen with in New York courtrooms is thanks to an inmate. On Thursday, the Wall Street Journal reported that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates. Read more
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Miles Goodloe, 34, has finally made it — he's a HENRY.
After years of school and work, he's expected to make over $100,000 working in technology education — granting him the stepping-stone status of high earner, not rich yet.
Despite making six figures, Goodloe feels he's not financially stable. He has $120,000 in credit card debt, $80,000 of which are student loans, and he's putting little into retirement. He doesn't have much left over at the end of the month, given he spends over $3,700 monthly on essentials not including debt or investments.
Still, he's chosen to use what's left over on nights out with friends while cutting back on expenses like cable. Read more
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(Credit: Miles Goodloe, Domenic Boresta, Robert Oszust Jr.)
Of all the glitzy projects Saudi Arabia is embarking on, perhaps the most eccentric is Neom. The kingdom plans to spend over half a trillion dollars transforming the desert into 10 futuristic regions, including a floating port city and a yachting hub.
The most famous of them is The Line, a 0.12-mile-wide and 105-mile-long city with a mirrored facade. Saudi Arabia hopes Neom will become home to 9 million people in a "vertical garden city" with daily essentials within a five-minute walk.
But while the country is pushing renewable energy at home, it's pushing for huge profits from fossil fuels abroad. Read more
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Now that the full details about range and cost are out, Business Insider wants to hear from readers: Would you buy a Tesla Cybertruck? Why or why not? Let us know via this link. 👉 https://www.businessinsider.com/would-you-buy-tesla-cybertruck-tell-us-why-2023-12?utm_source=telegram&utm_medium=social&utm_campaign=top-story
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China on Wednesday announced that it's started commercial operations at the world's first next-generation nuclear reactor.
The new reactor, built in Shandong by state-owned energy company Huaneng, Tsinghua University, and the China National Nuclear Corporation, was hailed as a "landmark achievement" of the country's science program by the National Energy Administration
The country is building 22 new nuclear reactors, by far the most out of any nation in the world, per the International Atomic Energy Agency. Read more
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Starting next fall, US submarines will be equipped with a new version of a widely used and powerful cruise missile.
The move to arm boats with Maritime Strike Tomahawk (MST) missile, comes as rival China continues to build up its already large navy and as tensions persist between China, its neighbors, and the US.
With the new addition, US submarines will have a deadly Tomahawk missile able to target ships possibly as far out as 1,000 miles, which will help the Navy deter against growing challenges from China, which boasts the largest Navy in the world. Read more.
Bill Ackman has called for the resignation of Harvard, MIT, and the University of Pennsylvania's presidents following their congressional hearing on antisemitism on Tuesday.
The billionaire singled out the three college presidents in a post written on X, formerly Twitter, after their testimonies on Capitol Hill.
"The presidents' answers reflect the profound educational, moral and ethical failures that pervade certain of our elite educational institutions due in large part to their failed leadership," Ackman wrote on X. Read more.
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As Israel's war with Hamas nears the two-month mark, US forces in the Middle East are increasingly finding themselves in fights with Iran-backed militant groups, with engagements taking place at sea, on land, and in the air.
In the most recent episode on Sunday, a US Navy warship shot down three drones over a period that lasted more than four hours as it responded to missile attacks against internationally flagged commercial vessels in the Red Sea.
American forces based in Iraq and Syria have come under attack by proxy groups at least 74 times since the middle of October, according to a Pentagon tally shared by a spokesperson last week. Read more.
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There's a famous joke among lawyers: A good lawyer knows the law. A great lawyer knows the judge. But what about the law clerk?
These pillars of the court tend to fade into the background. Attorneys usually focus on mustering arguments that will persuade judges, who can make or break a case, to side with their clients.
In Donald Trump's civil fraud trial, however, his attorneys have spent a disproportionate amount of time — and ire — on Allison Greenfield, the judge's principal law clerk. Read more
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A Ukrainian soldier called in an artillery strike on his own position to try and stall a Russian advance, CNN reports.
Alone and wounded, Serhii, whose call sign is "Fin," had Russian troops closing around him. Surrounded and ready to die, he called in artillery strikes on his position, successfully deterring advancing Russian forces.
Serhii repeated the coordinates whenever the enemy closed in, creating a temporary shield thanks to accurate artillery fire. Read more
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An elite intelligence unit of the Israel Defense Forces (IDF) saw signs that Hamas was preparing for a massive terror attack, but early warnings ultimately went ignored, according to a new report.
Israeli media outlet Channel 12 obtained internal correspondence from within the IDF's Unit 8200 showing that in early July, a non-commissioned officer warned others in detail that Hamas had carried out extensive drills practicing various assault tactics several weeks earlier.
Unit 8200 is part of the IDF's decades-old Military Intelligence Directorate, which is responsible for collecting and processing intelligence. Read more
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Few strategists expect the next decade to look anything like the pre-pandemic economy.
The recovery from the financial crisis was defined by near-zero interest rates, minimal inflation, excess labor, and efficient global trade.
By contrast, the economy of the 2020s will likely be defined by higher rates, persistent inflation, and a tight jobs market.
Business Insider spoke with nine professional investors, strategists, and financial planners to hear how the next decade will differ from the last 10 years — and how people can make the most of it. Read more
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The percentage of American households who own their home has actually been on the rise since the start of the pandemic, climbing to 66% at the end of the third quarter.
That's nearly a full percentage-point increase from the end of 2019; there are roughly 6.6 million more owner-occupied housing units today than there were four years ago.
Meanwhile, Wall Street's foray into the housing market has slowed substantially since last spring. In recent quarters, several of the largest publicly traded SFR companies have even been selling more homes than they've been buying.
The tale of the housing market over the past few years, in which big Wall Street firms and greedy Airbnb investors elbowed out first-time buyers and drove up home prices, is appealing. Read more
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Meta may have significantly downplayed the rates of misinformation, hate speech, discrimination, and other harmful content on its platforms, according to a newly unsealed complaint against the company filed on behalf of 33 states.
For example, Meta said that for every 10,000 content views on its platforms only 10 or 11 would contain hate speech, or about 0.10% to 0.11%, per data for July through September 2020.
But the complaint said an internal user survey from Meta reported significantly higher levels of hate speech just months earlier. Read more
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Rebekah Maciorowski, 28, traveled to Ukraine in March 2022 to volunteer as a combat nurse. She will spend Thanksgiving on the frontline and plans on staying in Ukraine until the war is won. She said the soldiers she works with are like "her family."
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China's share of the global economy is falling by the most since Mao Zedong, and the historic turn could 'reorder the world'
China's share of world GDP is on pace to shrink 1.4 percentage points over two years, Ruchir Sharma wrote in the Financial Times. It's the largest decline since the 1960s and 1970s, when Mao Zedong oversaw a weak economy.
An ex-Qatar Airways flight attendant says he was fired and deported after police found he was wearing tinted moisturizer and then accused him of being a sex worker
A former Qatar Airways flight attendant said police told him he had "no rights" after he asked to speak with the Indonesian Embassy.
American schoolchildren typically learn that the tradition dates back to the Pilgrims, who helped establish Plymouth Colony in 1620 in what is now Massachusetts.
As the story goes, friendly Native Americans taught the struggling colonists how to survive in what the Europeans called the New World. Then everyone got together to celebrate with a feast in 1621.
Thanksgiving 2022 would mark the 401st anniversary of that "first" American Thanksgiving. But, in reality, Thanksgiving feasts predate Plymouth, and the peace celebrated that day was tenuous. Read more
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Dua Lipa recently interviewed Tim Cook on an episode of BBC's "Dua Lipa: At Your Service" podcast. Toward the end of the episode, she asked him to share five books that have shaped him over the years.
Cook's book list includes picks like "I Am Malala" and Nike co-founder Phil Knight's memoir. Read more
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