Hi! Welcome to the Insider Advertising daily for September 22. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected] Today's news: Walmart and Instacart chip away at Amazon's ad dominance, Quibi mulls a sale, and Suzy raises $34 million.
With record low-interest mortgage rates and a collective pandemic-driven desire to get out of town, many people are seriously considering buying a second home. According to Business Insider, financial planners say there are three things that potential buyers should think about before taking the plunge. Business Insider reports that first, you need to have your own financial house in order. Be on track for retirement, and have absolutely zero high-interest debt.
Business Insider reports that Jack Ma's Ant Group is looking to raise its funding target to $35 billion through its initial-public-offering. Ant is Alibaba's fintech arm and China's dominant mobile-payments service. Ant raised its valuation to $250 billion from $225 billion. Previously, the company expected to raise $30 billion. When Ant goes public, its listing will likely be the largest IPO in the world.
Wages in the US have not kept up with the pace of growth in the gross domestic product, or GDP, as they used to in the 1950s and 1960s. In fact, a new report finds that the median salary would have been as high as $102,000 for a full-time employee if wages increased at the same pace as GDP. According to Business Insider, the median income right now is half that, at $50,000. The average wage of 44% of workers before the pandemic was as low as $18,000.
While the investing gap between black and white Americans is narrowing, it's still significant. What's more, there is no one single reason for discrepancy. In 2015, 67% of black households earning $50,000 or more invested in stocks or mutual funds, versus 86% of similar white households. And according to Business Insider, Duke University researchers say the median black household holds just 10% of the wealth of the median white household.
Britain has officially entered into the largest recession on record afterfigures showed the pandemic sent the economy plunging by 20.4% between Apriland June. The Office for National Statistics (ONS)..
Credit: PA - Press Association STUDIO Duration: 01:09Published
Amazon CEO Jeff Bezos sold more than $3.1 billion worth of his company's stock between Monday and Tuesday.
Business Insider reports the two-day selling spree surpassed the $2.8 billion worth of Amazon..