Hello, Insiders! This is Joe Ciolli, a deputy executive editor in Insider's business division. We got the newest batch of inflation data yesterday, which showed a sharp decline. It offered an encouraging sign that the Fed's rate hikes are working. But it wasn't all rosy. The fine print showed continued pressure on housing prices and rent. Markets were torn by the data, with stocks immediately surging on the report before closing lower as traders digested the complete picture. Plus, here's what's on tap: |
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THE LATEST What's going on |
- House Dems call on Sen. Dianne Feinstein to resign. Feinstein has been away from the Senate dealing with health issues.
- Salesforce is scrutinizing overtime, especially for workers who log more than 10 hours of overtime a week, according to a leaked document.
- Amazon CEO Andy Jassy says his letter to shareholders follows one of the toughest economic years in recent memory. Read it in full.
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THE BIG STORY Moving company scams |
Alexi Rosenfeld/Getty Images |
Florida is ground zero for moving scams where companies demand extra fees — or steal your stuff. More Americans than ever are moving to Florida. But the Sunshine State is also increasingly home to scammers operating fraudulent moving companies. These companies will often offer customers a low estimate and deposit price — and then demand additional exorbitant fees after taking their belongings hostage. Moving company scams doubled between 2015 and 2022, and Florida-based companies made up almost half of all customer complaints nationally, per a Newsweek report. The scam usually begins with a moving broker, who solicits a customer. "You just go online, make up a fake name, and that's it and you're up and running," said an attorney who settled a lawsuit last year with a Florida-based moving company. "No one's regulating." |
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TOP READS Weight-loss drugs & more |
- Ozempic could save lives — but millions are being denied access to it. New weight-loss drugs like Ozempic are nothing short of revolutionary. Doctors' offices have been overwhelmed by patients seeking the drugs for cosmetic reasons, while millions who need them most can't get access. Our full story here.
- A rift, a fistfight, a walkout: Chris Smalls and the bad blood within the Amazon Labor Union. Smalls, the president of the union, was caught on camera fighting an Amazon worker outside a warehouse last year as tensions within the union grew.
- JPMorgan has a new mandatory office policy for managing directors. JPMorgan Chase CEO Jamie Dimon has been outspoken in his criticism of work-from-home policies. See the memo.
- A sign that car buying is finally getting better: New car prices have been trending downward for months now — and March was the first time in 20 months that buyers didn't have to shell out more than a vehicle was listed for.
- A 21-year-old influencer is facing backlash after announcing she had bought her first home. Katylee Bailey posted a video with the caption, "Mortgage free and a home owner at 21 baby!!!" Some commenters said that her post was insensitive. Now she's defending herself.
- The EV revolution has never felt farther away in the US. Despite billions of dollars of investments and incentives, automakers are struggling to win over customers and beat Tesla at its own game. Here's why.
- The worst Pentagon leak in years may have started in a gamer chatroom. An investigation into the origin of the leak revealed that classified documents were shared on a Discord server dedicated to "Minecraft" during an argument over Ukraine.
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"I flew on a semi-private jet — but I wouldn't do it again." Taylor Rains, an Insider reporter, booked a flight from California to Arizona with JSX, a semi-private air carrier. She said that it came with a handful of nice perks, like relaxed security and speedy boarding, but ultimately said that it wasn't worth the money. |
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How millions are trapped in modern-day slavery at brick kilns in Pakistan. Entire families work to pay off snowballing debts to kiln owners. Workers don't have bank accounts and make so little they have to keep borrowing just to get by. |
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This edition was curated by Joe Ciolli, and edited by Hallam Bullock, Lisa Ryan, Dave Smith, Jensen Rubinstein, and Jack Robert Stacey. Get in touch: insidertoday@insider.com. |
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