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• The S&P 500 could surge 9% to 4,700 by year-end, Fundstrat's Tom Lee told CNBC on Friday.
• Lee sees a renewed surge in interest rate on the horizon, with the 10-year drifting towards 1.75%.
• That reversal in interest rates should drive cyclical stocks higher, according to Lee.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

The stock market is on track to continue its uptrend and surge as much as 9% by year-end, Fundstrat's Tom Lee said in an interview with CNBC on Friday.

Lee said the S&P 500 could surge to 4,700 by year-end as "strong markets stay strong," representing potential upside of 9% from Thursday's close. That move higher will likely be driven by cyclical stocks as interest rates drift back towards their recent cycle-high of 1.75%.

Since the start of June, the 10-Year US Treasury rate has fallen to as low as 1.27% as investors question the durability of the post-pandemic economic recovery and expectations of higher inflation. The drop in rates helped fuel a rotation out of value and into growth stocks, but according to Lee, rates and growth stocks could begin to rise together as they become "detached" from their often inverse relationship.

"I think FAANG is going to detach itself from interest rates, meaning they're going to have a great second half, not because rates are going to fall, but because these are great companies that almost did nothing during the first half [of 2021]. We think if the S&P 500 ends the year up 25%, and a lot of these FAANGs are up 5%, they could be up 20% in the second half, that makes them an overweight," Lee told CNBC.

While Lee believes mega-cap tech stocks in the "FAANG" group can continue to perform well, epicenter stocks tied to the physical reopening of the economy will be best positioned for more upside.

"Epicenter stocks will rally strongly, as they are the most sensitive to rising rates," Lee said in a note on Friday.

Fundstrat

And within epicenter stocks, Lee has the most conviction on the energy sector, as bullish divergences between energy stocks and oil prices continue into the back half of the year. Lee sees a potential squeeze in the supply of oil occuring just as the economy gets back on its feet and demand is high, likely leading to a continued uptrend in prices.

"[Oil] Supply will get even tighter into 2022 as the $300 billion in shortfall in capex past 24 months robs future production capacity," Lee explained. Those potential supply constraints come as OPEC members fail to reach a deal on an expected production increase.

"Bottom line: If interest rates reverse, buy epicenter which is gonna rally most," Lee concluded.

Read the original article on Business Insider

Jacquelyn Martin/AP

• Astra Taylor, founder of the Debt Collective, told Insider student debt is threatening democracy.
• She said that after the Civil War, debt was used to wield power over marginalized communities.
• Biden is "playing with fire" not following through on his promise to cancel student debt, she said.
• See more stories on Insider's business page.

Debt is all-American, Astra Taylor says. And she doesn't mean that in a good way.

Taylor, who founded the Debt Collective, which calls for the cancellation of all forms of debt, namechecks Thomas Jefferson as a founding father of how we understand debt today.

In the early 1880s, he wrote in a letter that debt should be used as a tool to control Indigenous people "because we observe that when these debts get beyond what the individuals can pay, they become willing to lop them off by a cession of lands." This idea has "carried over through the 20th century," Taylor said, and she's made it her mission to end in the 21st. Our relationship with debt can be all-American in a different - and better - way, she said in an interview with Insider.

Her organization is the country's first membership-based union for debtors and allies, and she said it's a necessary step for true democracy to finally emerge in the US. She's offering her help to President Joe Biden, even drafting an executive order she wants President Joe Biden to sign to cancel student debt for all borrowers.

Even if he can cancel all student debt by simply signing a piece of paper, Taylor said it wouldn't be enough - all debt in the country has to be erased so borrowers are no longer controlled by money they will never be able to pay off.

Founder of the Debt Collective, Astra Taylor.

Astra Taylor

"I think it's really important to understand that relationships of credit and debt are always political," Taylor said. "It's a power relationship masquerading as a relationship of equality," adding that it's time for Americans to move beyond that dynamic.

Many Americans who hold student debt fear they will never be able to pay it off before dying, as Insider previously reported, and given that multiple left-leaning studies have shown that debt cancellation would stimulate the economy by freeing up money for borrowers to spend elsewhere, Taylor said there's no reason why Biden should not act on the opportunity.

The roots of debt and democracy

As Taylor explained in an opinion piece for The New York Times last week, the Reconstruction era that followed the Civil War had another name among formerly enslaved people: the Jubilee. But although slavery was abolished, debt quickly took its place in the form of "sharecropping," which served as a tool to control marginalized communities and allow white landlords "generations of exploitable labor."

This kind of coercion through debt mutated but never went away, Taylor said, citing predatory lending and redlining, or the practice of housing discrimination based on race which the Consumer Financial Protection Bureau (CFPB) found evidence of this year. Lawmakers like Sen. Elizabeth Warren argue that student-loan servicers are currently taking advantage of borrowers in a similar way.

Taylor said the economic recovery Biden touts does not reflect the disproportionate debt burden on minority communities. For example, upon graduation, Black student debt borrowers typically owe 50% more than white borrowers. Four years later, Black borrowers owe 100% more, according to 36 civil rights organizations.

The Debt Collective's work to ensure debtor's remain politically independent will help eliminate the disproportionate burden of debt, and, as Taylor put it, "revive the Jubilee." Taylor's ideas are intersecting more and more with the mainstream. For example, this week Bloomberg's Odd Lots podcast interviewed "independent renegade economist" Steve Keen, who called for a "modern Jubilee."

Biden is 'playing with fire' on debt cancellation

During his campaign, Biden promised to immediately cancel $10,000 in student debt for all borrowers, but he has not yet fulfilled that promise and has not commented on if, or when, he will follow through. Taylor told Insider that there are "tremendous risks" accompanied with not delivering on debt cancellation.

"They're playing with fire," Taylor said. "To break this promise they fully have the ability legally to do is just so dangerous."

Taylor argues that instead of investing in debt collection, Biden should invest in free education. Plus, she says, eliminating debt would allow people to invest in other things, like housing.

The Education Department has so far cancelled some debt for certain groups of people, but Americans continue to hold $1.7 billion in student debt.

Biden promised he would cancel student debt, Taylor said. "Why would you risk all of the disappointment and bad faith that will result from not meeting the moment?"

Read the original article on Business Insider

Starbucks is testing a 'Social Sips' ordering program.

Starbucks

• Starbucks is testing a new system for ordering off-menu drinks that have gained popularity on social media.
• While it's a smart idea, the QR scanning function didn't work during my visit.
• I tried the $6 Pink Drink Remixed.
• See more stories on Insider's business page.

Starbucks is running a limited test that allows customers to order drinks that became popular on social media through ads on Facebook and Instagram. Starbucks.

Scott Olson/Getty Images

Over the weekend, I was excited to see one of the ads come up while tapping through Instagram stories. Starbucks introduced the Social Sips program.

Starbucks

When the ad comes up, you have the option to swipe up and try the drink, which of course I did. Starbucks introduced the Social Sips program.

Starbucks

I was served the ad for the Pink Drink Remixed, a social media creation based on the Pink Drink, which was itself initially a fan creation that was added to menus. Starbucks introduced the Social Sips program.

Starbucks

There are two options for ordering the drink: order ahead as you would with any mobile order, or order directly from a barista. Starbucks introduced the Social Sips program.

Starbucks

The ad has a QR code that the barista should be able to scan, along with a written out way to order the drink. Starbucks introduced the Social Sips program.

Starbucks

I wanted to test out the QR code function, so I visited the closest Starbucks near my road trip route in Allentown, Pennsylvania. Starbucks introduced the Social Sips program.

Starbucks

The scanner was not able to pick up the QR code from my phone, though luckily I still got my order. A Starbucks in Orlando, Florida.

Getty/Jeff Greenberg

Starbucks says that it is getting scans from other locations in the program, so this isn't the case in every store. Starbucks barista.

REUTERS/Mike Blake

The barista helping me told me that he's seen different scanning equipment at different stores, so not all locations necessarily have the same equipment. Starbucks introduced the Social Sips program.

Mary Meisenzahl/Insider

I got to watch the worker make my drink, which consists of a Strawberry Acai Refresher with coconut milk, topped with Vanilla Sweet Cream Cold Foam. Starbucks introduced the Social Sips program.

Mary Meisenzahl/Insider

The drink tastes something like strawberry short cake turned into a milkshake. Starbucks introduced the Social Sips program.

Mary Meisenzahl/Insider

It's not my favorite, but I can see why people might like it. The drink comes out to $6.41 with tax for a venti. While I think it was worth a try, I won't order again. Starbucks introduced the Social Sips program.

Mary Meisenzahl/Insider

Customer-created drinks on social media have always been part of Starbucks' business and introducing a way to make ordering them easier for customers and baristas seems like a necessary next step. I think this could be the future of Starbucks, once some bugs are figured out. Starbucks introduced the Social Sips program.

Mary Meisenzahl/Insider

Do you have a story to share about a retail or restaurant chain? Email this reporter at mmeisenzahl@businessinsider.com.

Read the original article on Business Insider

Still More Green Hypocrisy In The EU, This Time Hydrogen

Authored by Mike Shedlock via MishTalk.com,

Let's discuss the meaning of "Green" EU style.

Hooray More Green Energy!

The EU is cheering a new hydrogen project at a refinery in Germany. 

The plant will be built by Shell and ITM power and will be able to produce about 1,300 tonnes of hydrogen per year, which can be fully integrated into the refinery processes, such as for the desulphurisation of conventional fuels. It will be the world's largest hydrogen electrolyser. 

Tudor Constantinescu, Principal Advisor, DG ENER at the European Commission stressed the the contribution of green hydrogen to the Energy Union objectives, saying: "Renewable electricity can support decarbonisation not only of the power sector, but, through sectoral integration also of other carbon intensive industries, such as refining. Green Hydrogen is a key enabler in this process, contributing to the Energy Union objectives both in terms of emissions reductions and increased renewables share."

Ten Times the Hydrogen, Ten Times the Cost?

Euractive has some interesting details of the undertaking, allegedly Set to Multiply Capacity tenfold by 2024.

The 10 MW electrolyser, while already Europe’s largest of its kind, is a pilot project for grander ambitions.

If the pilot works out well, the partnership around Shell wants to add another 100 MW of electrolysis capacity which would complete construction in 2024. That would then be the largest electrolyser in the world.

Yet the pilot project depended on financing by the FCH JU at a 50% rate, meaning that the business case for a project ten times larger without public funding would be questionable at best.

Whether those ambitions come to fruition will therefore depend on the carbon price and the amount of additional funding available, which could come from either the EU or Germany.

It is currently unclear whether the FCH JU will again step in and provide funding as it did for the pilot project, as the application review is ongoing, a source told EURACTIV.

European Hydrogen Greenwashing

Eurointelligence looked into the details, and found still more amusing details.

We noted a strange description of how it will work in a Euractiv article sponsored by the Fuel Cells and Hydrogen Joint Undertaking, a public-private partnership between the EU and the European hydrogen lobby. According to the article, the new plant will produce around 1300 tonnes of green hydrogen annually, provided sufficient amounts of renewable energy are available.

If they are not, the alternative will be to used natural gas to produce the hydrogen. And funnily enough, hydrogen produced by the new electrolyser will be used to refine petroleum at Chemicals Park Rheinland, Germany’s largest refinery.

We thought it was strange that Laschet would tout a renewable project given his backing for coal-fired power plants and general aversion to all things green. But we wonder now whether Refhyne will be green after all. 

We think it is plausible that the EU’s hydrogen development will wind up being dependent on Russian gas.

The EU's Stunning Green Hypocrisy

With that revealed, let's recap my previous report, The EU's Stunning Green Hypocrisy, At Least Trump Was Honest About Targets

If you took Green targets seriously, you would have to reform the Common Agricultural Policy. But the EU failed to do precisely that when they had an opportunity last year. Instead, the EU resorts to cheating. 

The European Commission classifies investment in terms of 0%, 40% and 100% green content, and rounds up the numbers to the next higher target. So 1% becomes 40%. 41% becomes 100%.

When the mendacity of the EU’s climate policy becomes apparent, the centre will not only have lost the victims of the economic crisis, but an entire generation of young voters.

This is the thing with smoke and mirrors: when the smoke lifts, you see clearly.

Too Strict?!

The above snips were also courtesy of Eurointelligence. 

Here's another amusing kicker: It also noted "the most recent set of [rounding up] guidelines, published in 2019, were deemed too strict by some member states and industry lobbyists."

Yes indeed. Clearly there is a need to round 1% up to 49% and 50% up to 120% or whatever.

EU Tries to Convince Trading Partners Its Carbon Tax is Not a Tax

Finally, please consider EU Tries to Convince Trading Partners Its Carbon Tax is Not a Tax.

Recap

This new "Green" hydrogen project needs a 50% subsidy, likely depends on Russian natural gas, and will be used to refine oil.

This we call "Green".

EU hypocrisy on Green Energy is endless.

*  *  *

Like these reports? I hope so, and if you do, please Subscribe to MishTalk Email Alerts.

Tyler Durden Sun, 07/11/2021 - 08:10

Liam McBurney/PA Images/Getty Images

• I visited Sonic and McDonald's to compare the two chains drive-thru experiences.
• McDonald's embodies the classic drive-thru style, while Sonic operates a drive-in.
• McDonald's model is more versatile, but I think Sonic's innovations will help it stay successful.
• See more stories on Insider's business page.

Drive-thrus are key for McDonalds. About 95% of the chain's nearly 14,000 US locations have drive-thrus, with 25,000 worldwide. A McDonald's 24 hour drive-thru.

Getty

Source: Restaurant Dive

"Drive-thru made McDonald's what it is today," McDonald's CEO and president Chris Kempczinski said in an earnings call in April. McDonald's U.S President Chris Kempczinski speaks about fresh beef expansion at a McDonald’s event in Oak Brook, Illinois, United States March 5, 2018.

Richa Naidu/Reuters

During the pandemic, drive-thrus became more important than ever, making up 90% of orders. McDonald's Drive Thru service could soon become much more automated.

AP Photo/Seth Perlman

I gave the classic drive-thru experience a try to see how one of the biggest chains in the world stands up to other formats.

Mary Meisenzahl/Insider

Source: Insider

I used the McDonald's app to order a quarter pounder and Big Mac, and of course fries.

McDonald's

The app is pretty standard compared to other fast food mobile ordering. I selected my order and location and then went to pick it up through the drive-thru.

McDonald's

The app gave me a short code to give the worker at the speaker, which I think made things move slightly faster than trying to repeat my name a few times.

McDonald's

My McDonald's location has double drive-thru lanes, a relatively recent innovation that was added to reduce wait times and bottlenecks.

Mary Meisenzahl/Insider

McDonald's corporate has been pushing franchisees to upgrade drive-thrus since 2019 after years of increasingly long wait times.

Mary Meisenzahl/Insider

Source: Insider

McDonald's average drive-thru wait times got slower every year for six years through 2019, leading to an all-time high of 273 seconds.

Mary Meisenzahl/Insider

Source: QSR

Along with double lanes, consolidating menus by removing options like grilled chicken sandwiches, salads, and all-day breakfast cut wait times.

Mary Meisenzahl/Insider

Source: Insider

I had a fairly simple order, but I didn't wait more than five minutes to receive my food.

Mary Meisenzahl/Insider

McDonald's has also been investing in a curbside pickup program, with designated numbered parking spots where employees can bring out food to waiting customers.

Mary Meisenzahl/Insider

Next up, I went to Sonic, which has a drive-thru along with a drive-in.

Hollis Johnson/Business Insider

Source: Insider

Sonic's drive-in model thrived during the pandemic as competitors closed dining rooms.

Hollis Johnson/Business Insider

Sonic operates a drive-thru, dining room, and drive-in. The drive-in has 15 to 20 parking spots with their own speakers to order food, which is brought outside by the car hop. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

The drive-in area is under a covering that keeps it comfortable in hot temperatures or rainy weather. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

The drive-in section is just across the parking lot from the entrance. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

There's also a small outdoor seating area. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Normally customers would also have the option of ordering and eating inside, but the dining room was still closed. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Each drive-in spot is essentially a drive-thru in miniature, with a sign displaying Sonic's massive menu. Customers press the red button to signal that they are ready to order, and a worker will take their order through the speaker. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Most of the sign is a static display, but there is also a digital screen that shares information. In this case, it said that some ingredients were not available because of supply issues across the entire industry. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

I ordered through Sonic's app before I arrived, which gave me time to look through the extensive menu that experts say is key to the chain's success. Sonic grew during the pandemic.

Mary Meisenzahl/Insider

Source: Insider

The menu has typical fast food fare comparable to McDonald's - burgers, chicken sandwiches, and fries. Sonic grew during the pandemic.

Mary Meisenzahl/Insider

Unlike many competitors, it also has a wide selection of snacks including different types of tater tots, mozzarella sticks, onion rings, and soft pretzels. Analysts said that the comfort food not tied to a specific meal time may have also contributed to Sonic's success. Sonic grew during the pandemic.

Mary Meisenzahl/Insider

Sonic's drinks are a major part of its appeal to customers. Sonic's president told Insider that 25% of all orders are drink-only, and there are 1.3 million possible drink combinations on the menu. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Source: Insider

There are so many options to add to a drink that it's almost overwhelming. I finally went with a diet coke with cranberry flavor and lime. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Once you finish ordering on the app, check out and pay. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

When you arrive, the app prompts you to say where you are parked. Each spot in the drive-in has a corresponding number. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Both Sonic and McDonald's have added ID numbers that reduce the chances of miscommunication between customers and employees. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

The app gives updates about order status while you wait. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Once you're checked in on the app, you can also see your order status on the screen. The screen informed me when a carhop was heading out with my order. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Carhops bring out food and drinks to customers waiting in parking spots. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

A server brought out my food and drinks within a few minutes, boxed up conveniently for transport. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

The drinks, a milkshake and a flavored coke, were probably the highlight of our trip - and definitely worth a visit on their own. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Some people eat in their cars, but I chose to drive home because the snacks I ordered were fairly messy. Sonic restaurants have over 20 drive-in spots.

Mary Meisenzahl/Insider

After my visit, I'm not surprised that Sonic grew so much during the pandemic. It sells snacks and drinks that make a perfect treat any time of the day, and the drive-in has very minimal contact with other people for safety. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

Sonic has a lot of room to grow before it rivals McDonald's, but I wouldn't be surprised if the success continues. Sonic's drive-in model is a smart way to get around the bottlenecks that plague drive-thrus. Sonic was massively successful during the pandemic.

Mary Meisenzahl/Insider

The typical drive-thru exemplified by McDonald's is more versatile, though. It takes up less space, and adding a few curbside spots has a similar effect as the drive-in. Both are well-positioned to grow off-premise dining as it stays key to their businesses. Nadine McNally hands a food order from the window of the reopened McDonald's drive-thru at Bloomfield Shopping Mall in Bangor, Wales.

Liam McBurney via Getty

Read the original article on Business Insider

The forward fuselage seen as it rests on the ocean floor.

Sea Engineering Inc. via NTSB

• The NTSB's undersea photos show the wreck of a cargo plane that ditched off the coast of Hawaii.
• The plane hit the water at about 1:30 a.m. local time on July 2. Both pilots escaped.
• The wreckage was found on the ocean floor at depths between 360 and 420 feet.
• See more stories on Insider's business page.

The National Transportation Safety Board (NTSB) has released the first underwater images of a Boeing 737-200 cargo plane that plunged into the sea near Honolulu on July 2.

Transair Flight 810 was forced to ditch at around 1:30 a.m. local time after experiencing engine trouble. There were two pilots on board, both of whom escaped.

To locate the wreckage, investigators used undersea robots and sonar scanning technology, the NTSB said.

The engine inlet case.

Sea Engineering Inc. via NTSB

Major components of the airplane including the fuselage, both wings, both engines, and the tail, were located on the ocean floor at depths between 360 and 420 feet. The depth meant that divers were unable to recover flight data and cockpit voice recorders, the NTSB said.

The aft fuselage of Transair flight 810.

Sea Engineering Inc. via NTSB

The airplane plunged into the sea two miles from Kalaeloa Airport.

"The pilots had reported engine trouble and were attempting to return to Honolulu when they were forced to land the aircraft in the water," the Federal Aviation Administration said.

According to audio recordings obtained by HawaiiNewsNow, one of the pilots told air traffic controllers: "We've lost number one engine and we're coming straight to the airport. We're pretty low on speed. It doesn't look good."

Both pilots were rescued by the Coast Guard, authorities confirmed. One pilot was in critical condition and the other was in serious condition, HawaiiNewsNow reported.

Coast Guard Lieutenant Alex Mead said the critically injured pilot had reached a point of extreme exhaustion by the time he was pulled to safety, and that he was unable to verbally communicate, per HawaiiNewsNow.

Read the original article on Business Insider

With household incomes increasingly stretched grocers pivot from recent moves upmarket

With household incomes increasingly stretched grocers pivot from recent moves upmarket

World’s second-biggest home appliances manufacturer forecasts normalisation as pandemic eases

Related Stocks: INT,

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Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

• Long-haul aircraft come with compartments in which bunks are available for flight attendants to rest and sleep.
• The hostel-like setup can be a second home for cabin crew on ultra-long-haul flights.
• Flight attendants will take turns servicing the cabin while the others rest.
• See more stories on Insider's business page.

Next-generation aircraft are flying further than ever before and airlines are constantly adjusting their products and offerings to ensure passengers are comfortable. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Read More: The 10 longest routes flown by airlines in 2019

The Airbus A350 family of aircraft, for example, flew four of the 10 longest routes in the world before the pandemic. It currently flies the longest flight in the world between New York and Singapore, operated by Singapore Airlines. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Read More: Inside the new world's longest flight: What it's like to fly on Singapore Airlines' new route between Singapore and New York

But while flyers are lounging out in plush lie-flat seats to endure the long journeys, flight attendants don't have that same luxury. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Rather, they don't even stay in the passenger cabin for their breaks and retreat to a hidden hideaway above their passengers. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Take a look at where flight attendants go when they need to rest onboard this SAS Scandinavian Airlines Airbus A350-900XWB. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

The extreme back of the plane is where passengers will find the rear galley. It's just one of the main workstations for a flight attendant where drinks, food, and other items are kept. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Just opposite the galley, however, is a small set of stairs that appears to lead to nowhere. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

A door marked "crew only" with a red no entry symbol hides the compartment above. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Open the door, and the crew rest area reveals itself. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

It's a narrow space and climbing up and down the stairs takes some getting used to. But long-haul flight attendants have plenty of opportunities to practice as they routinely spend countless hours in the air. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

The compartment is completely separate from the passenger cabin so it's not like the crew can look down on passengers from above. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Once inside, six bunks comprise the crew rest area. There's not much headspace and some crouching is required to navigate the compartment. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Each bunk has the essentials including a pillow, blanket, and mattress pad so flight attendants can get a good sleep. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

But beyond that, they're quite bare save for a few storage pockets. While passengers below have access to thousands of hours of in-flight entertainment, flight attendants don't. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

That's because these areas are meant solely for rest and the bare-bones setup reflects that. Flight attendants can choose to do other things like read books or go on their phones but that's not the intended purpose. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

A personal reading lamp provides the only light in the bunks as otherwise, it gets quite dark in the space. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Flight attendants can close the curtains for privacy and block any ambient light coming from the galley and main entryway. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Seatbelts are installed so resting flight attendants can sleep while safely strapped in during turbulence or any other time the seatbelt sign is on. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Smaller storage areas line the aisle and an emergency exit is available that will see flight attendants pop out from overhead bins in case of trouble. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Hangars are also available for the crew to hang up their uniforms. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

The narrow passageways are reminiscent more of a spaceship than an airplane. That said, it would've been easier to maneuver had there been no gravity. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Crew rest is mandatory on longer journeys and flight attendants will take turns servicing their cabins while others rest. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Pilots have a separate rest area that's closer to the cockpit, with this rest area solely for cabin crew. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

The crew rest area is connected to the cabin below via an intercom, allowing flight attendants to keep in communication. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

On some of the longer flights of which aircraft like the Airbus A350 are capable, this can become a second home for hours on end. The flight from New York to Singapore is scheduled at 18 hours and 50 minutes in duration, for example. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Read More: Singapore Airlines says 6 unique seats always sell out on the world's longest flight — here's why

All the while, the average passenger will likely never realize that flight attendants are resting just feet above their heads. It's one of the closely kept secrets of an airplane. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

But if a flight attendant disappears for a few hours, that's likely where they're going. Touring SAS Scandinavian Airlines' Airbus A350-900 XWB.

Thomas Pallini/Insider

Not all crew rest areas are as secluded, however. On smaller aircraft, a crew rest area can be a single-row in economy, often the very last row. Retreating to the last row.

Thomas Pallini/Business Insider

JetBlue, for example, is flying to London in August and blocking one of the last rows in economy for its flight attendants to rest on the journeys. Inside JetBlue Airways' new Airbus A321neoLR.

Thomas Pallini/Insider

A Mint business class seat is also reserved for flight attendants to use transatlantic flights. Inside JetBlue Airways' new Airbus A321neoLR.

Thomas Pallini/Insider

So while the average traveler may never know if flight attendants dream of flying sheep, they'll now have a better idea of where they sleep. Flying Delta Air Lines in first class from Phoenix to Minneapolis.

Thomas Pallini/Insider

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He pasado un enlace aleatorio, con la búsqueda del titular salen varios medios cubriéndolo.

Según citan creo que esta es la fuente original: La otra cara de la lotería: terminar solo y arruinado

De todos modos los artículos de cualquier medio hay que leerlos siempre por encima sin ser demasiado críticos. En la absoluta mayoría de ocasiones los escribe un redactor al que pagan 2 duros y que está bastante lejos de dominar, o tan si quiera conocer, la temática. Véase la magia del caso Coca-Cola y Cristiano Ronaldo. Cantidad de artículos >>>>>> Calidad. Así funciona el periodismo digital.

Landslide victory tightens leader’s hold on power as conflict continues in Tigray region

No sé si es el redactor pero los dos primeros párrafos de la noticia aportan información contradictorias entré si. El primer parrafo es categórico, el 70% se arruina, el segundo párrafo dice que hay algunos que se arruinan…

Barcelona, 21 dic (EFE).- El 70 % de los ganadores de una lotería han acabado arruinados al cabo de cinco años a causa de las “decisiones irracionales” que pueden tomar estas personas después de recibir dinero por medio del azar.

Según ha informado la Universitat Oberta de Catalunya (UOC) en un comunicado, al cabo de los años ha habido casos en los que los ganadores de lotería han acabado solos y arruinados, e incluso algunas personas han acabado sufriendo depresión.

La suspensión por cinco años más de los aranceles que se impusieron Estados Unidos y la Unión Europea (UE) en la disputa en la Organización Mundial del Comercio (OMC) por las ayudas públicas ilegales a Boeing y Airbus entra en vigor este domingo, tras el acuerdo logrado en junio entre Bruselas y Washington. Leer

Nunca he indagado en la fuente del estudio, pero este dato siempre ha estado en mi cabeza:

La Vanguardia – 21 Dec 18 El 70 % de los ganadores de una lotería acaban arruinados al cabo de 5 años

Barcelona, 21 dic (EFE).- El 70 % de los ganadores de una lotería han acabado arruinados al cabo de cinco años a causa de las "decisiones irracionales" que pueden tomar

Yo creo que tiene mucho sentido. Si das dinero a una persona que no tiene nociones básicas de gestión de capital, es bastante probable que tome malas decisiones.

Used car and truck dealers have bought models for more than their original sticker price.

Jim Watson / AFP via Getty Images

• Used-car prices have skyrocketed over the last year.
• A supply crunch in new cars is spurring demand for used models.
• Prices may not return to normal for at least a year, one expert told Insider.
• See more stories on Insider's business page.

If you're looking to get a sweet deal on a used car to take advantage of the warm summer weather, it's not going to happen.

The market for secondhand cars is absurdly and unprecedentedly hot right now. Used vehicles went for a whopping 40% more in June than they did before the pandemic in February of 2020, according to data from JPMorgan.

The average nine-year-old car changed hands for $13,250 in June, according to automotive research site Edmunds. That's a 30% hike over the same month in 2020, while a five-year-old vehicle will run you a staggering $24,000 - up more than $6,000 from a year ago.

The insanity all comes down to simple economics: demand for used cars far outweighs their supply, pushing prices higher and higher. But the reasons for scant inventories and such high interest in used cars get a bit more complicated.

Why are used cars so expensive right now?

The market for used cars is deeply intertwined with the market for new ones, says Kayla Reynolds, an analyst at Cox Automotive. The latter is going through a rough patch, and those troubles are trickling down into the used market.

A devastating shortage of microchips - which are necessary for all manner of critical electrical components - is slowing car production worldwide, choking the supply of new models and driving their prices skyward. High dealer markups and a lack of options are forcing more buyers to shop secondhand, chipping away at used-car inventories, Reynolds said.

To put the magnitude of this shortage into perspective, new-car inventory in the US was down 54% in June as compared to the same month in 2019, according to Cox. Dealer incentives have plummeted and transaction prices for new cars have hit all-time highs as a result.

That's bringing a whole new set of customers to the used market, people who were prepared to spend serious money on a brand-new set of wheels and are, in turn, driving up used-car prices, says Ivan Drury, senior manager of insights at Edmunds.

Read more: Meet 9 former Tesla execs who left Elon Musk to become power players at rivals like Apple and Rivian

A drop in new cars rolling off assembly lines has upended the flow of vehicles to and from rental agencies, which are typically a major source of used inventory. Rental companies, which sold off cars en masse during the pandemic, usually buy some 2 million new cars every year and turn them over every 1-2 years, Drury said.

With travel surging back, they've resorted to snatching up used cars - and they're not giving them up.

Moreover, with new-car prices through the roof, people are holding onto their aging vehicles longer instead of trading them in, cutting off the flow of cars onto the used market. For the same reason, they're opting to buy their leased vehicles at the end of the term, rather than swap them in for a new lease.

When will the madness end?

There is good news. Prices seem to have peaked in May and are heading back to Earth.

Between May and June, wholesale car prices declined for the first time since December, suggesting that demand and supply are on a path toward some kind of equilibrium, Cox's Reynolds said.

She expects that retail prices will soon follow, and that shoppers will start to notice prices on car lots gradually dropping by the fall. The pandemic-induced car-buying frenzy tapering off partially explains the shift, she said.

But the supply crunch brought on by the chip shortage isn't going away anytime soon, meaning it could be quite a while before shoppers see used-car prices they're accustomed to. Even once new models are back in stock, the secondhand market won't snap back to normal overnight, Drury said.

His advice to car buyers: "I'd say give it at least six months. And in all honesty, if you can hold off for an entire year, you're better off with that."

Are you a car dealer, buyer, or private seller with a story to share about what it's like to buy and sell cars in this red-hot market? Contact this reporter at tlevin@insider.com

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Last reply by rambletree on Sun, 11 Jul 2021 11:48:09 +0000

Amazon cofounder and former CEO Jeff Bezos.

Alex Wong/Getty Images

• It turns out that Amazon Prime isn't necessary, even if you're ordering from Amazon frequently.
• I canceled my subscription in May 2020, and it has had zero impact on order speed or pricing.
• On the plus side, I'm saving at least $120 annually on the expensive membership fee.
• Visit the Business section of Insider for more stories.

In April 2020, just as the pandemic lockdowns were taking effect in New York City, I canceled the Amazon Prime subscription my wife and I shared.

In the year-plus since that subscription ended, I've not missed it a single time - and we're saving $130 annually, plus tax, by not paying for the service.

We aren't anti-Amazon crusaders by any means: This year so far, I've placed 15 separate orders for products delivered through Amazon. Last year, the total was 20 orders.

How much were my shipping costs for all of those orders? A grand total of $17.57 for 2020, and a whopping $12.26 in 2021 so far.

That includes two air conditioners (with free shipping), two large Tommy Bahama beach chairs (again, free shipping), and a variety of gifts sent to a relatively remote town in Pennsylvania.

In the email confirming my Amazon Prime cancelation there is a massive button to re-join Amazon Prime, naturally.

Ben Gilbert/Insider

While it's true that some of those items we purchased would've come with a slight discount through Prime, or that some would've been delivered the very next day (rather than two or three days later), it's extremely unlikely that those discounts would add up to the over $100 difference between what we're paying in shipping now versus what we were paying for a Prime membership.

Moreover, even without a Prime membership, most items we buy through Amazon are delivered shockingly fast.

Living in Brooklyn, not too far from a major Amazon distribution center on Staten Island, assuredly doesn't hurt! But I've had similarly positive experiences sending gifts through Amazon to family in Pennsylvania and Ohio, where packages arrived days ahead of projected arrival times.

But what about Prime Video? Frankly, we weren't using it, and we're already paying for Netflix, Hulu, and HBO Max. I can name specific reasons for those subscriptions - shows, movies, or entire libraries that justify the ongoing subscription fee. With rare exception, that didn't happen with Prime Video for us.

More often than not, the video we did want to watch on Prime Video still required a rental fee. That happened enough times that we stopped turning on the service altogether.

My context isn't everyone else's context, of course. My wife and I don't have kids, we live in a major city, and we own a car. Frankly, there weren't a lot of good reasons for us specifically to pay for Amazon Prime.

Do we really need the Frankie's Spuntino cookbook delivered the next day, or is it okay if we wait a few days? I kinda think we'll survive.

But maybe you're a new parent and you need diapers tomorrow, no matter what? Or you've got a job that keeps you from getting errands done during normal business hours? Or any other number of perfectly reasonable situations? I get it!

There is more to the calculation here than strictly financials, and the decision depends on a lot. For $120 annually, though? It's a decision worth considering.

Got a tip? Contact Insider senior correspondent Ben Gilbert via email (bgilbert@insider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

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