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Europe’s central bank cuts interest rates for first time in 5 years
06 Jun

Europe’s central bank cuts interest rates for first time in 5 years

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The European Union just made its first cut to interest rates in five years.The European Central Bank lowered its main interest rate from 4% to 3.75%.Officials tend to lower interest rates when inflation is under control and they want to lift growth. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. The European Union has…
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The Portion Of US VC Funding That Went To Female Founders Hit A New Peak In 2023, Thanks To Massive AI Deals
06 Jun

The Portion Of US VC Funding That Went To Female Founders Hit A New Peak In 2023, Thanks To Massive AI Deals

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In 2023, the proportion of U.S. venture funding that went to startups with at least one female co-founder reached a new peak. In fact, a quarter of all funding — $34.7 billion — was invested in companies with at least one female founder, Crunchbase data shows. The uptick in the portion of startup investment going to female-founded companies — up from 15% in 2022 — was in large part due to a number of billion-dollar-plus rounds raised by AI companies with a female co-founder. For example, OpenAI raised the largest funding deal in 2023, at $10 billion, and foundation model…
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The Lords of Silicon Valley Are Thrilled to Present a ‘Handheld Iron Dome’
06 Jun

The Lords of Silicon Valley Are Thrilled to Present a ‘Handheld Iron Dome’

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Drones have changed war. Small, cheap, and deadly robots buzz in the skies high above the world’s battlefields, taking pictures and dropping explosives. They’re hard to counter. ZeroMark, a defense startup based in the United States, thinks it has a solution. It wants to turn the rifles of frontline soldiers into “handheld Iron Domes.”The idea is simple: Make it easier to shoot a drone out of the sky with a bullet. The problem is that drones are fast and maneuverable, making them hard for even a skilled marksman to hit. ZeroMark’s system would add aim assistance to existing rifles, ostensibly…
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Costco will reportedly stop selling books, except before the holidays
06 Jun

Costco will reportedly stop selling books, except before the holidays

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Costco plans to stop selling books on a regular basis, largely because of how much labor it requires, four unidentified publishing executives told The New York Times.The warehouse giant will stop stocking books regularly from January, they said. Instead, Costco will sell books between September and December for the holidays, as well as potentially selling some books sporadically at other times of the year, the executives said.Costco did not immediately respond to a request for comment from Business Insider, made outside regular US working hours. The executives told The Times that the decision was mainly down to staffing demands. Stocking…
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Putin and his Kremlin clique are rolling out their own kids at the ‘Russian Davos’
06 Jun

Putin and his Kremlin clique are rolling out their own kids at the ‘Russian Davos’

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It's the time of the year for the St. Petersburg International Economic Forum — or the "Russian Davos," as it's sometimes called.This list of high-profile world leaders has become substantially shorter since Russia invaded Ukraine, triggering sweeping sanctions against Putin's regime.This year, the biggest names attending the event include Bolivian President Luis Arce and Zimbabwean President Emmerson Mnangagwa.But the four-day economic forum, which started on Wednesday, now also features the children of the Kremlin's top echelons, Bloomberg reported on Wednesday.The nepo babies in attendance include Maria Vorontsova and Katerina Tikhonova, Putin's low-profile daughters. Vorontsova, a 39-year-old endocrinologist, is representing the…
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Get ready to make less money off your investments, says a private equity executive
06 Jun

Get ready to make less money off your investments, says a private equity executive

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A leading private equity executive just warned that investors are in for a "pretty dry spell for a few years.""I'm here to tell you everything is not going to be OK," Scott Kleinman, the co-president of Apollo Global Management, said at a session during Berlin's SuperReturn International conference on Wednesday.Managers have to adjust their financial projections for deals struck in the looser world of zero interest rates, when financing was cheap and consumers spent more. "It's going to be a little bit tougher for private equity firms to see the types of returns they were looking for, versus in years…
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