Looking Through Tariffs with Principal's Shah: Macro Matters
Given inflation may be a feature of the coming years, real estate and public infrastructure may be places for investors to consider, says Seema Shah, Chief Global Strategist for Principal Asset Management on this Macro Matters edition of the FICC Focus podcast. Shah joins host and BI chief US rates strategist Ira Jersey to discuss investment ideas and regions in the midst of market volatility stemming from the ongoing tariff war.
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Business Insider
2 hours ago
- Business Insider
These CEOs plan to invest billions in 'Trump accounts,' government savings plans for newborns
The White House is ready to usher in a new generation of boss babies — and it's enlisting the help of some of America's most prominent executives. A small crowd of CEOs joined President Donald Trump at the White House for a roundtable on Monday to promote his plan to deposit $1,000 in investment accounts for newborn babies. The program is part of the president's signature — and controversial — spending bill, which has passed the House but faces headwinds in the Senate after getting publicly bashed by Elon Musk. The CEOs who attended the roundtable included Dell Technologies CEO Michael Dell, Uber CEO Dara Khosrowshahi, and Goldman Sachs CEO David Solomon. A White House official confirmed to Business Insider ahead of the event that under the program, the executives would announce plans to invest billions of dollars worth of collective investments into Trump Accounts for their employees' future children. With the exception of Dell, it was not immediately clear how much each company plans to invest if the initiative becomes law, and the companies did not specify when contacted by BI. Dell said in a statement provided to BI that the company would match the government's $1,000 investment for the children of its employees. "The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families," the CEO said. Other corporate leaders who attended the event on Monday afternoon included Robinhood CEO Vladimir Tenev, Salesforce cofounder Parker Harris, Altimeter Capital CEO Brad Gerstner, Arm Holdings CEO Rene Haas, and ServiceNow CEO William McDermott. "This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation, and they'll really be getting a big jump on life," Trump said during his prepared remarks at the start of the roundtable. Trump Accounts would be available to every American citizen born from January 1, 2025, and December 31, 2028, according to the bill. Under the program, if the bill in its current form passes and is signed into law, the federal government would invest $1,000 into an index fund that tracks the stock market. The child's guardians will control the account. Guardians could deposit up to $5,000 a year into the account, which the child could access once they're 18. In a statement to BI, White House press secretary Karoline Leavitt said that passing the president's spending bill, called the "One Big Beautiful Bill," and the associated Trump Accounts, will put the lives of young Americans on the right financial path!" BI reached out to the companies of the CEOs who attended the roundtable. In their remarks at the event and statements provided to BI, the CEOs emphasized that the investment accounts would set the next generation up for success by giving them a financial head-start. "Our economy's future vitality is dependent on young people understanding the power of investing for the long term," Solomon, CEO of Goldman Sachs, said during the roundtable. "The American stock market is among the greatest wealth creation engines of our time," Tenev, the Robinhood CEO, said in a statement. "Speaking personally, as an immigrant to this country, I've seen firsthand the vast opportunities afforded by our financial system." A representative for ServiceNow said in a statement: "This is more than policy — it's about unlocking a future where more Americans can own, build, and thrive." Monday afternoon's investments are another example of the Trump administration's close ties to the private sector. The administration has also secured hundreds of millions of dollars in pro bono work from major law firms for causes the administration supports.
Business Insider
7 hours ago
- Business Insider
Small companies are swapping performance-based reviews with a less formal approach
Small businesses are replacing annual performance reviews with continuous feedback. Continuous feedback can improve workflow efficiency and foster an innovative workplace culture. This article is part of " Culture of Innovation," a series on how businesses can prompt better ideas. Targeted feedback, such as annual or quarterly reviews, is essential for employees' growth. However, if it's too infrequent or inconsistent, it could hinder employee performance. With that in mind, some small businesses are replacing performance-based reviews with continuous open feedback, or sharing feedback regularly so employees can consistently learn and improve. Leaders at small businesses told BI that this type of consistent evaluation system can alleviate employees' daily challenges, speed up their workflows, and create innovative environments where employees feel comfortable sharing new ideas. Continuous feedback can take different forms Continuous open feedback methods can vary across companies. 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Goldberg said that creating a direct line of communication to the senior leadership team has helped employees "forge mentor relationships to learn and grow in a positive, constructive format." Sarah Schmidt, the president of Interdependence, a Chicago-based PR and strategic communications firm, told BI she uses real-time feedback with her workers. "Annual reviews felt absurd. Why wait six months to fix something you could solve in six minutes?" she said. Schmidt formalized the review process at Interdependence when she joined the firm about four years ago. The process involves twice-a-month coaching check-ins, which are guided by relevant projects and key performance indicators. Schmidt, who has managed teams for over 12 years, said that employees might be skeptical of a continuous feedback style, especially if they're used to annual reviews. But if it's done right, everyone wins, she said. "Continuous input requires discipline," Schmidt said. "We trained our leaders to deliver bite-sized, actionable notes instead of saving up. Today, the most common praise we hear is, 'Leadership feels like a partner in my growth,' which is music to my ears." Ongoing feedback can pay off Tim Duba, the cofounder of wellness company Protekt Products, said that ongoing feedback can help reduce the fear of being wrong, which can impact employee collaboration. "When feedback is constant and normalized, people stop being precious about their ideas," Duba told BI. "We don't care where a good idea comes from. We care if it works. Mistakes aren't failures here — they're data points." He said that using this approach at Protekt Products led the company to bring manufacturing and fulfillment in-house, which one of his employees had suggested. This type of change can be costly and risky, he said, but open communication allowed employees across the company to adjust to the change collaboratively. He said the business move has set the company up to triple its growth in 2025. Duba said continuous feedback also gave employees clarity and eliminated guesswork, creating a "more organized, decisive, and focused" work culture. "Trust builds quickly when you know your strengths and weaknesses, and your teammates do too," Duba said. "We move faster because people know their lane and how to win in it." At Interdependence, the idea for an AI training and certificate program came about from a junior staff member's suggestion in a coaching chat. "Leadership greenlit a two-week training sprint; now it's a firm-wide curriculum that upskills every team member and helps us work smarter, faster, and deliver for our clients more efficiently," Schmidt said. Building better work habits Schmidt said that if overhauling a feedback system seems daunting, start small and focus on quick exchanges. She suggested starting with a simple cadence — like 15-minute check-ins every other week — and identifying one or two "wins," followed by actionable next steps. She also recommended recording important meeting notes in a shared document to make the employee's progress visible. "The system sells itself once your team sees results in real time," Schmidt said. Duba said other small businesses should consider adopting an open feedback style sooner rather than later. "If your leadership team isn't willing to be challenged, you're not ready — but if you are, you can't afford to wait," Duba said. "There are a hundred reasons your business might fail. Don't let culture be one of them."
Yahoo
8 hours ago
- Yahoo
Waymo suspends robotaxi rides near LA protests after 5 cars are set ablaze
Five Waymo vehicles were set on fire during protests in LA about Trump's immigration crackdown. The company suspended service in downtown LA, a spokesperson confirmed to BI. Waymo doesn't think the vehicles were intentionally targeted and is working with the LAPD. Waymo suspended robotaxi service in downtown Los Angeles on Sunday after five vehicles were set on fire during protests against President Donald Trump's immigration raids in the city. Photos show Waymo cars covered in anti-ICE graffiti burning in the street, engulfed in smoke. A spokesperson for Waymo confirmed to Business Insider that five vehicles had been vandalized during the protests. The company temporarily suspended service in downtown LA and doesn't think its vehicles were intentionally targeted, the spokesperson said. Waymo is working with the Los Angeles Police Department, they added. On Sunday night, the LAPD said on X that "burning lithium-ion batteries release toxic gases." Electric vehicles often use lithium-ion batteries. The spokesperson told BI that Waymo, which Alphabet owns, operates more than 300 vehicles in LA and is continuing operations in other parts of the city. It's not the first time that Waymo vehicles have been targeted in California. Last year, a crowd in San Francisco set one of the robotaxis on fire during Lunar New Year celebrations amid a wave of distrust about driverless vehicles. The protests broke out on Friday after an immigration raid in the city. Over the weekend, Trump bypassed California Gov. Gavin Newsom's authority and ordered 2,000 National Guard members to the LA area. Despite the dramatic images, the protests have largely been peaceful, according to multiple reports. The demonstrations have become a political lightning rod between Newsom and Trump, and the governor has announced that he's suing the administration. They may, however, serve as an olive branch between the president and Elon Musk, who had an ugly falling out last week. Read the original article on Business Insider
