The fight over Jerome Powell puts Elon Musk at odds with Wall Street

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Elon Musk, Donald Trump, Jerome Powell
Elon Musk has signaled support for undercutting Fed independence, setting off quiet alarm bells on Wall Street.

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  • Elon Musk signaled support for eroding the independence of the Federal Reserve, setting off alarm bells for some investors.
  • There's little appetite on Wall Street for undermining the central bank or ousting Jerome Powell.
  • Industry experts told BI that markets regulate Trump's
Politics

2 maps show how Americans rely on income like Social Security more than they used to

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a woman stands in the aisle of a grocery store
More Americans are leaning on safety nets like SNAP and Social Security to afford basics.

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  • Americans are increasingly relying on government aid thanks to aging populations and rising costs.
  • Money from programs like Social Security accounted for 18% of total personal income in 2022.
  • That's a nine percentage-point increase from 1970, and the equivalent of $3.8 trillion.

America

Economy, Economy

From hours to seconds: A short demo on parallel computing shows why Nvidia is the world's most valuable company

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A man in a dark suit and light shirt sits in a chair on a stage smiling.
Nvidia CEO Jensen Huang

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  • Parallel computing speeds up data crunching. Projects that took hours now take seconds.
  • It's the fundamental concept that, along with advanced semiconductors, has ushered in the AI boom.
  • Increased availability of advanced chips has made parallel computing more accessible.

At a data science conference in midtown Manhattan in early November, the Nvidi

Russia needed armor so badly that its biggest film studio donated 36 Soviet-era tanks that were used as props

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T-55 and T-54 tanks are seen in a black-and-white photo taken in Hungary. Mosfilm's director general, Karen Shakhnazarov, wears sunglasses as he attends a meeting with Vladimir Putin.
Mosfilm's director general said the movie studio had donated 36 tanks, including the aging T-55, to Russia's defense ministry.

The Kremlin via Getty Images and Jack Esten/Picture Post/Hulton Archive/Getty Images

  • Russia's biggest film studio said it helped shore up the Kremlin's losses in 2023 with 36 aging tanks.
  • Mosfilm's head told Putin that it donated 28 T-55 tanks and eight PT-76 tanks to the

Josh Brolin says he uses nicotine pouches '24 hours a day' and sleeps with them in his mouth

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Josh Brolin wearing a black shirt.
Josh Brolin says he sleeps with nicotine pouches in his mouth.

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  • Josh Brolin says he uses nicotine pouches almost all the time, including while he's asleep.
  • He switched to nicotine pouches after getting cavities from nicotine lozenges, he said on a podcast.
  • Nicotine pouches like Zyn are getting increasingly popular but aren't FDA-approved to help quit smoking.

Josh Brolin loves

Xpeng's new 'land aircraft carrier' is a $276,000 van with a 2-man quadcopter, and it thinks it can sell 10,000 of them a year

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A crowd looks on as quadcopter of Xpeng's
Xpeng's "Land Aircraft Carrier" took its first public flight in Zhuhai on Tuesday.

VCG/VCG via Getty Images

  • Xpeng wants to sell 10,000 models of its new "land aircraft carrier" a year, starting in 2025.
  • The vehicle is a six-wheeled van with a quadcopter drone that can fit two people.
  • The firm performed the vehicle's first public flight on Tuesday at the Zhuhai Air Show.

Chinese EV maker Xpeng gave the

The app data has spoken, and Gen Z's love for Temu is real

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The Temu logo displayed on a phone.
Temu was the top downloaded app by Gen Z-ers in 2024, according to app intelligence firm Appfigures.

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  • Temu was the most downloaded app by Gen Z in the US in the first 10 months of 2024.
  • Users aged 18 to 24 downloaded the app nearly 42 million times from January to October.
  • Low prices, convenience, and the gamification of shopping are among its selling points.

America's Gen

A millennial couple in Singapore spent 8 months turning a rundown unit into their dream home. Take a look inside.

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The courtyard leads to the kitchen and dining space.
The couple turned a rundown 1950s unit that used to house foreign workers into a colorful, modern home.

Amanda Goh/Business Insider

  • Jeremy Ng and Amanda Misso bought the first floor of a 1950s house in Singapore for about $1.34 million.
  • The house had previously been split into seven rooms and was rented out to foreign workers.
  • They transformed the unit into a colorful home with lots of natural light