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<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition. Maybe it's <a target="_blank" class="" href="https://www.businessinsider.com/how-to-tell-imposter-syndrome-versus-bad-at-job-2024-9">imposter syndrome</a>, or maybe you're bad at your job. Microsoft's former vice president of HR shares <a target="_blank" href="https://www.businessinsider.com/microsoft-hr-performance-signs-bad-at-job-2024-10">three signs it's the latter</a>.On the agenda today:<ul><li>Meet the exec tasked with Citi's biggest challenge: <a target="_blank" href="https://www.businessinsider.com/citi-anand-selva-transformation-consent-orders-fines-2024-10">getting the bank's house in order</a>.</li><li>Amazon's growing cash mountain has <a target="_blank" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Wall Street licking its lips</a>.</li><li>Millennials are about to be crushed by <a target="_blank" href="https://www.businessinsider.com/millennial-gen-x-boomer-inheritance-stuff-house-collectibles-2024-10">all the junk their parents accumulated</a>.</li><li>A writer finally caved and got solar panels. <a target="_blank" href="https://www.businessinsider.com/solar-industry-collapse-my-roof-nightmare-2024-10">It turned out to be a huge mistake</a>.</li></ul>But first: Elon Musk's robotaxi got lost on the way to Wall Street.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h3 id="58506b3b-b008-4ead-9e90-71439c9e98dd">This week's dispatch</h3><h2 id="445f5814-a55f-4878-a10e-9b6683bfa158">Robotaxi dreams meet Wall Street reality</h2>Elon Musk unveiled Tesla's <a target="_blank" href="https://www.businessinsider.com/tesla-robotaxi-event-cybercab-elon-musk-2024-10">robotaxi</a>, along with a <a target="_blank" href="https://www.businessinsider.com/what-we-know-about-teslas-new-robovan-so-far-2024-10">robovan</a> and updates to its <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-event-optimus-robot-serves-drinks-dances-2024-10">humanoid</a> robot, at a flashy event in Los Angeles this week. Wall Street wasn't buying it.The billionaire took a ride in Tesla's new Cybercab around Warner Bros. Discovery's movie studio in Burbank, later saying it would be in production before 2027 and could sell for less than $30,000.Investors didn't seem convinced. <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-cybercar-analysts-self-driving-fleet-ai-2024-10">Tesla's stock</a> finished Friday down almost 9%, leaving shares down 17% over the past year.Musk has long promised a robotaxi, saying in 2019 that Tesla would have a million of them on the road by 2020. That prediction was later revised to 2023. Five years on from that first prediction, Tesla remains <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-safety-regulation-2024-10">some distance away from fully autonomous driving</a>, and doesn't yet have permission to let driverless cars loose on open streets.In the meantime, tech startups and old-guard Detroit automakers have <a target="_blank" href="https://www.businessinsider.com/robotaxi-ridesharing-tesla-waymo-uber-2024-10">developed their own versions of self-driving tech</a> that can <a target="_blank" href="https://www.businessinsider.com/tesla-robotaxi-elon-musk-ride-hailing-uber-lyft-waymo-rivals-2024-10">more or less match Tesla</a>. You can already <a target="_blank" href="https://www.businessinsider.com/waymo-robot-taxis-weird-san-francisco-traffic-parking-cars-2024-9">order a driverless Waymo</a> in three major cities today.It's tough to bet against Elon Musk, as many on <a target="_blank" href="https://www.businessinsider.com/tesla-short-sellers-bleed-billions-elon-musk-threatens-obliteration-2024-7">Wall Street</a> have discovered. If Tesla does crack fully autonomous driving, it could herald a new era for the company. But for now, investors are skeptical about Tesla's self-driving dreams.<h2 id="8de1f093-db58-438e-a296-ab09ff92ad5c">Save our Citi</h2><div type="image" title="&quot;Photo collage featuring Anand Selva, chief operating officer, with Citibank's logo in the background" height="1500" width="2000" msid="114190225" hostid="261" sizebytes="179366"></div>Last year, Anand Selva was named Citigroup's COO. His mandate: oversee an unsexy yet crucial initiative to regain compliance with regulators. He's been tasked with overseeing the "Transformation," an aptly named initiative to overhaul the bank's technology.BI spoke with 14 current and former Citi employees who've worked under Selva to get a picture of the challenge facing him — and why he was put in charge of the bank's No. 1 priority.<a target="_blank" href="https://www.businessinsider.com/citi-anand-selva-transformation-consent-orders-fines-2024-10">Inside Selva's tenure so far</a>.<h2 id="8d221ec2-a40e-4d73-80e7-638d6c30f428">Big Tech's cash king</h2><div type="image" title="Andy Jassy" height="1000" width="2000" msid="114190226" hostid="261" sizebytes="205428"></div>Amazon has long been famous for running on thin margins, reinvesting most of its profits, and holding relatively little cash compared with peers. By 2027, that's expected to change, with the company's cash balance estimated to hit $400 billion.That number puts it on track to far outpace rivals Alphabet and Microsoft. Wall Street is taking note, and Amazon could soon face pressure to return some of its cash with buybacks or dividends.<a target="_blank" href="https://www.businessinsider.com/amazon-big-tech-cash-king-wall-street-wants-a-piece-2024-10">Wall Street wants in on the action</a>.<h2 id="69bad2e5-a5bf-4ba9-b958-e3eff00ffc5b">The boomer stuff avalanche</h2><div type="image" title="A mountain of antique items with a cutout in the shape of a person with their arms on their hips in the center of the pile" height="1500" width="2000" msid="114190227" hostid="261" sizebytes="591740"></div>An old boomer habit is raining down on their children: There's too much stuff, and not enough space.Boomers have spent lifetimes acquiring things, and their Gen X, millennial, and Gen Z progeny are figuring out what to do with everything. Family dynamics can make it hard to say no, even if there's no use or space for all that junk.<a target="_blank" href="https://www.businessinsider.com/millennial-gen-x-boomer-inheritance-stuff-house-collectibles-2024-10">The "great stuff transfer."</a><h2 id="dc96d953-8312-4bf5-8432-dfb9ba5779e5">A solar panel fiasco</h2><div type="image" title="a house with solar panels burns down." height="1000" width="1334" msid="114190228" hostid="261" sizebytes="173944"></div>Business Insider's Vishal Persaud spent months getting his solar panels installed and inspected. All that was left was to switch them on, but the solar panel company needed final approval from its partner, SunPower, to do so. Then, SunPower filed for bankruptcy protection.Despite the ongoing climate crisis, much of the solar panel industry is cooling. Over the years, it's faced high interest rates that have decimated demand, questionable financial engineering, and more than 100 bankruptcies across America in 2024 alone.<a target="_blank" href="https://www.businessinsider.com/solar-industry-collapse-my-roof-nightmare-2024-10">Now some customers are stuck in solar purgatory</a>.This week's quote:"When you move fast and break things in healthcare, you go to jail."— 27-year-old startup founder Ibrahim Rashid on <a target="_blank" href="https://www.businessinsider.com/gen-z-tech-founder-gap-zuckerberg-bezos-holmes-2024-10">the lessons learned from intrepid tech founders</a>.More of this week's top reads:<ul><li>The hidden upside of a college degree: <a target="_blank" href="https://www.businessinsider.com/college-graduates-more-likely-have-friends-participate-community-civil-engagement-2024-10">Having more friends</a>.</li><li>The housing market's Ice Age is <a target="_blank" href="https://www.businessinsider.com/housing-market-ice-age-homebuyers-mortgage-rates-spring-real-estate-2024-10">finally starting to thaw</a>.</li><li>Dell's sudden five-day RTO order left parents <a target="_blank" href="https://www.businessinsider.com/dell-staff-return-office-order-sparks-panic-parents-childcare-wfh-2024-10">scrambling to find childcare</a>.</li><li>Five things to include in your résumé, and <a target="_blank" href="https://www.businessinsider.com/cant-get-job-what-to-never-always-include-resume-hiring-2024-10">eight things to leave out</a>.</li><li>Welcome to the <a target="_blank" href="https://www.businessinsider.com/job-market-outlook-claudia-sahm-layoffs-hiring-economy-twilight-zone-2024-10">job market "Twilight Zone."</a></li><li>How politicians' fundraising appeals got to <a target="_blank" href="https://www.businessinsider.com/politicians-desperate-fundraising-appeals-2024-10">sound so desperate</a>.</li><li>Want to get into the AI industry? <a target="_blank" href="https://www.businessinsider.com/abu-dhabi-uae-ai-powerhouse-mgx-openai-investment-2024-10">Head to Abu Dhabi</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" class="" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. Grace Lett, editor, in Chicago. <a target="_blank" class="" href="https://www.businessinsider.com/author/amanda-yen">Amanda Yen</a>, fellow, in New York.</li></ul>

Insider Today: Robotaxi reality check

<ul><li>US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.</li><li>The surge in interest rates over the past 18 months drove bond prices lower, leading to bank failures earlier this year. </li><li>Here's why banks have flexibility in making sure that their $650 billion balance sheet bomb is defused. </li></ul>US banks have a ticking time bomb sitting on their balance sheets <a href="https://markets.businessinsider.com/news/bonds/bond-market-crash-jpmorgan-bank-of-america-unrealized-losses-explainer-2023-11">to the collective tune of at least $650 billion,</a> but it will likely be defused rather than explode.The banking sector, which <a href="https://www.businessinsider.com/silicon-valley-bank-failure-what-happened-bank-run-explained-2023-3">has been rocked by five bank failures this year,</a> has to grapple with the ramifications of buying trillions of dollars worth of low-yielding Treasury bonds prior to the start of the Federal Reserve's aggressive interest rate hiking cycle. Because bond prices fall as yields rise, the value of these holdings has plummeted since the Fed started hiking rates. But banks have flexibility in ensuring that massive unrealized losses sitting on their balance sheets don't become realized, <a href="https://www.businessinsider.com/silicon-valley-bank-failure-what-happened-bank-run-explained-2023-3">like they did for Silicon Valley Bank</a>, <a href="https://www.businessinsider.com/first-republic-bank-taken-jpmorgan-fdic-fails-find-buyer-2023-5">First Republic Bank</a>, and <a href="https://www.businessinsider.com/signature-bank-shut-down-by-regulators-depositors-bailed-out-2023-3">Signature Bank, which all failed earlier this year</a>, partly as a result of tanking fixed income portfolios. Here's how banks got into their $650 billion mess, and how they can maneuver avoid another financial catastrophe. <h3>What happened?</h3>A perfect storm brewed for banks after the outbreak of the pandemic, as consumers were flush with cash from the combination of stimulus checks and spending less money during the COVID-19 lockdowns.Consumers poured their excess savings into US bank deposits, and the banks invested those deposits in low-yielding government debt. By the end of 2021, US banks held more than $4 trillion in government debt that yielded less than 2%.Then interest rates started to surge, with the 10-year US Treasury yield tripling to more than 4.5% in less than two years. That sudden interest rate shock sent bond prices plunging, leading to a spate of bank failure and eventually to one of the <a href="https://markets.businessinsider.com/news/bonds/treasury-bond-yields-market-selloff-market-crashes-dot-com-bubble-2023-10">biggest market crashes market history.</a>That plunge in bond prices was bad news for US banks with sizable fixed income portfolios, as the market values of their assets cratered. The bond crash culminated in an estimated $650 billion in unrealized losses held by banks, according to Moody's.Bank of America alone had $131.6 billion in unrealized losses sitting on its balance sheet at the end of the third-quarter, which is more than half the value of the company's $218 billion market capitalization.<h3>How banks can defuse their balance sheet bomb</h3>Despite the massive unrealized losses, banks are looking at three scenarios that could help ensure losses aren't realized.First, banks could simply hold onto their low-yielding debt until it matures and not realize any losses at all. Unlike Silicon Valley Bank, many firms won't be forced to sell in order to cover deposits that are rapidly being pulled by customers. "The question is how many banks invested too far out on the Treasury yield curve? Most banks likely kept their duration risk under three years, so I suspect that those losses might be overstated," market expert Louis Navellier told Insider. Second, banks can sell some or all of their low-yielding debt and reinvest the proceeds in today's higher yielding bonds if they determine that interest earned from the higher-yielding debt would outweigh the losses realized on the bond sales."It puts them in a difficult situation because if they sell the asset, they have to book the loss which hurts their earnings and could require a potential recapitalization of the balance sheet," AlphasFuture founder Geetu Sharma told Insider. "On the other hand, if they continue to hold the asset to maturity, that capital is blocked and cannot be invested into higher return opportunities as available today in the market, impacting their future earnings." Third, banks could see the value of their bond assets increase and their unrealized losses decrease if interest rates move lower from current levels, like they have over the past two weeks. "If interest rates have peaked as markets are currently implying, banks could be seeing a reduction in some of these losses going forward," Sharma said.Finally, any resurgence of risks in the banking sector will be closely monitored by the Federal Reserve, and <a href="https://markets.businessinsider.com/news/stocks/fed-emergency-loans-btfp-banking-liquidity-svb-collapse-contagion-deposits-2023-3">emergency funding arrangements could once again be offered</a> to prevent another banking crisis from spiraling out of control."The Fed is likely to be on top of it, will protect customers and save the bank, as the Fed Put exists," Sharma said, referring to the idea that the central bank would likely step in to stem any extreme turmoil in across markets out of fear that it could destabilize the economy.<h3>What it means for the banking sector</h3>Banks are in a tricky spot as they manage their multi-trillion dollar pile of low-yielding debt, but barring another crisis of confidence in the banking sector, they should be able to escape this period without realizing any losses.But it's the money that they could have been making had they not piled into such low-yielding debt that will weigh on investor sentiment in the sector going forward.This is reflected in the stock performance of the banking sector, and it's showing no signs of recovering anytime soon, even as interest rates edge lower in recent weeks.The SPDR S&amp;P Bank ETF is down about 20% year-to-date, while the SPDR S&amp;P Regional Bank ETF is down 30% over the same time period. "Banks are exposed to lower earnings whether they realize it or not, markets may be pricing that in," Sharma said.<div type="image" title="Bank stocks" height="792" width="1143" msid="105152292" hostid="261" sizebytes="29950"></div>

How US banks can wiggle out of the $650 billion balance-sheet bomb hanging over them

<ul class="summary-list"><li>Red Lobster's incoming CEO Damola Adamolekun does not practice work-life balance personally.</li><li>Adamolekun, former CEO of P.F. Chang's, prefers integrating work into his personal life.</li></ul>Red Lobster's newly named CEO doesn't believe in practicing a work-life balance — at least for himself.Damola Adamolekun, who is <a target="_blank" class="" href="https://www.businessinsider.com/pf-changs-ceo-damola-adamolekun-red-lobster-bankruptcy-filing-fortress-2024-8">set to take over Red Lobster as CEO</a> pending a court approval next month, <a target="_blank" class="" href="https://fortune.com/2024/08/26/red-lobster-new-leader-is-a-millennial-wall-street-fave-who-doesnt-believe-in-work-life-balance/">told</a> Fortune in a 2023 interview that he's never really "been a person that separated work and life.""I worked in banking, so I was working all the time," he said. "But I liked it. I like what I did; I thought it was interesting."Even after his stints in investment banking and private equity, long workdays don't phase the former CEO of Asian-fusion restaurant chain P.F. Chang's. Adamolekun previously told Business Insider that he <a target="_blank" class="" href="https://www.businessinsider.com/pf-changs-ceo-damola-adamolekun-daily-routine-2022-7">likes to start with a 5 a.m. workout</a>, a 6 a.m. home office start, and work that can extend all the way to dinner with partners, directors, or other executive team members.In his interview last year with Fortune, Adamolekun said although he didn't necessarily have to go into the office on a Saturday, sometimes he had ongoing tasks that he just wanted to knock out or look into something."So even on a Saturday, I'll be by my pool, but I'll still be checking emails or responding to things," he said. "And it's me, it's fine, it doesn't stress me out." Adamolekun <a target="_blank" class="" href="https://www.businessinsider.com/ceos-who-hate-phrase-work-life-balance-prefer-alternative-views-2023-11">is not the first CEO</a> to not practice work-life balance. Other executives have even gone so far as to criticize the phrase. Former <a target="_blank" class="" href="https://www.businessinsider.com/google-ceo-eric-schmidt-criticism-remote-work-google-openai-2024-8">Google CEO Eric Schmidt</a> recently claimed that the tech giant's remote work policy and overfocus on work-life balance was the reason Google was falling behind other AI startups, though he later walked back his remarks after they drew attention.Others like Jeff Bezos and Microsoft CEO Satya Nadella didn't necessarily disagree with balancing work and life but rather likened it more to a "work-life harmony" or circle.However, Adamolekun said that people's work-life relationship is "an individual thing" and that his <a target="_blank" class="" href="https://www.businessinsider.com/burnout-business-owner-cozy-entrepreneur-2024-6">hustle-culture</a> tendencies are not necessarily the most effective for everyone."Now, if you're a person who, work stresses you out, then you need to separate the two," he said. "So you have moments where you're not stressed, you're not thinking about work all the time."And that's actually more likely to be the majority of people. In its <a target="_blank" class="" href="https://www.mercer.com/assets/global/en/shared-assets/local/attachments/pdf-2024-global-talent-trends-report-en.pdf">2024 global trends report</a>, consulting firm Mercer found that 82% of employees surveyed felt at risk of burnout.In fact, work psychologist Tina Armasu <a target="_blank" class="" href="https://www.businessinsider.com/tips-work-life-balance-work-psychologists-2024-8">previously told</a> Business Insider that it's important to minimize talking about work after you've logged off."I think you need to know yourself," Adamolekun said. "And know how you react, how work impacts you."

Red Lobster's next CEO once explained why he doesn't practice work-life balance

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! With the holidays right around the corner, a friendly reminder to catch up with your elderly family members. It can <a style="text-decoration: underline;" href="https://www.insider.com/visit-family-friends-social-interaction-help-live-longer-study-2023-11">literally help save their lives</a>, according to scientists.In today's big story, we're looking at what the $650 billion in unrealized losses <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">means for financial firms</a>. (Hint: It's not as bad as it seems.)What's on deck: <ul><li>Markets: A famed short-seller talks about everything from <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11">crypto to Tesla</a>.</li><li>Tech: Inside the <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11">secret deal between Apple and Amazon</a>.</li><li>Business: How remote workers are "double dipping" and <a style="text-decoration: underline;" href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11">secretly working two full-time jobs</a>.</li></ul>But first, it's only a loss... if it's realized.<h2>The big story</h2>Unrealized losses, real fear<a href="https://www.businessinsider.com/subscription/newsletter/insider-today"></a><a href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11"></a><div type="image" title="SVB" height="3648" width="4864" msid="105189827" hostid="261" sizebytes="317398"></div>$650 billion.That's the unrealized losses US financial firms wracked up as of September 30, <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-jpmorgan-bank-of-america-unrealized-losses-explainer-2023-11">according to Moody's estimate</a>. It's a 15% bump since the end of June, thanks in large part to the <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-what-are-treasury-yields-stocks-economy-americans-2023-10?utm_medium=ingest&amp;utm_source=markets">rout in the bond market</a>. And with the sell-off continuing well into October, that figure is now likely even worse. That's a pretty scary number! To put things in perspective, if those losses were a country's GDP, it'd be <a style="text-decoration: underline;" href="https://www.worldometers.info/gdp/gdp-by-country/" target="_blank" rel="noopener">just shy of the top 20</a>. But the numbers also don't tell the entire story. Similar to my potential to become a star NFL quarterback, the losses are unrealized. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. Insider's Matthew Fox <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">has a full breakdown</a> of why banks can easily diffuse these balance-sheet bombs. Whether it's simply holding them until maturity (meaning they won't suffer any losses) or cashing them out and reinvesting in higher-yielding bonds, banks have ways to <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11">navigate the paper losses</a>.<a href="https://markets.businessinsider.com/news/bonds/bond-market-crash-banks-unrealized-losses-treasurys-rates-balance-sheet-2023-11"></a><div type="image" title="Chart showing the US big four bank stocks in 2023" height="428" width="671" msid="105189828" hostid="261" sizebytes="24690"></div>Of course, just because something isn't realized doesn't mean it's completely risk-free. They said the Titanic was <a style="text-decoration: underline;" href="https://www.britannica.com/story/did-anyone-really-think-the-titanic-was-unsinkable" target="_blank" rel="noopener">unsinkable</a>, and we all know how that ended. I don't mean to be a fearmonger, but perception can quickly become a reality, especially with Wall Street's herd mentality. A firm could have no plans of selling its bonds for a loss. But if enough people fear they might do it, things can escalate quickly. Lest we forget <a style="text-decoration: underline;" href="https://www.businessinsider.com/silicon-valley-bank-svb-first-social-media-bank-run-2023-3">Silicon Valley Bank</a>. To be sure, big banks are better capitalized than SVB. Bank of America, which is sitting on some $130 billion in paper losses, has been adamant about its intention to hold its government securities to maturity. But circumstances change. While the bond sell-off has cooled, there's always a risk it could spike again, putting even more pressure on banks to eventually pull the trigger.Even if things don't get so dire, those unrealized losses still feel pretty real to investors. Big banks' share prices noticeably dropped as bond prices sunk. Therein lies the biggest issue. Regulations already limit banks' balance sheets. Having more capital tied up in these bonds only further hamstrings lenders. And it couldn't come at a worse time, as new players <a style="text-decoration: underline;" href="https://www.businessinsider.com/news-today-november-1-blackrock-private-credit-risks-lending-2023-11">keep pushing into their territory</a>.<h2>News brief </h2>Your Monday headline catchupA quick recap of the top news from over the weekend:<ul><li><a href="https://www.businessinsider.com/tim-scott-drops-out-of-gop-race-for-president-2023-11">Tim Scott drops out of GOP primary race after girlfriend reveal</a></li><li><a href="https://www.businessinsider.com/iceland-state-of-emergency-risk-of-volcanic-eruption-2023-11">Iceland issues state of emergency and closes world-famous Blue Lagoon over fears of a volcanic eruption</a></li><li><a href="https://www.insider.com/best-outfits-celebrites-wore-baby2baby-gala-2023-11">13 of the best looks celebrities wore to the 2023 Baby2Baby Gala</a></li><li><a href="https://www.businessinsider.com/us-patriot-missile-defense-system-cost-middle-east-syria-iraq-2023-11">The US is sending more Patriot defense systems to the Middle East. They cost $1.1 billion each</a></li><li><a href="https://markets.businessinsider.com/news/bonds/chinese-financial-markets-sovereign-bond-sale-rates-liquidity-cash-crunch-2023-11">China's latest stimulus effort unintentionally creates chaos in its financial markets as short-term rates hit 50%</a></li></ul><h2>3 things in markets</h2><a href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11"></a><div type="image" title="Jim Chanos" height="2000" width="2666" msid="105189829" hostid="261" sizebytes="104998"></div><ul><li>Short-seller Jim Chanos sounds off. From crypto to Tesla and AI, Chanos touched on plenty of topics. "You have to understand that the crypto ecosystem is well-suited for the dark side of finance for a lot of reasons," Chanos said in a recent interview. <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/stocks/short-seller-jim-chanos-crypto-bitcoin-tesla-ai-tech-etf-2023-11">Check out his four best quotes here</a>. </li><li>How to tell if a deal is in the works. Bank of America detailed the <a style="text-decoration: underline;" href="https://www.businessinsider.com/how-to-stocks-merger-acquisition-investing-strategy-bank-of-america-2023-11">key signs to look out for ahead of a company getting acquired</a>. The bank's analysts also highlighted 10 stocks that are prime acquisition targets, including Ralph Lauren and Expedia. </li><li>Two recession indicators are flashing, but it's not as bad as it sounds. The bad news: Indicators tied to the unemployment rate and the yield curve are <a style="text-decoration: underline;" href="https://markets.businessinsider.com/news/bonds/recession-indicators-stock-market-outlook-yield-curve-sahm-jobless-rate-2023-11">hinting the market is headed down</a>. The good news: They're being driven by something different than usual, meaning a recession isn't as big of a concern.</li></ul><h2>3 things in tech</h2><a href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11"></a><div type="image" title="Screenshots of Apple products on Amazon" height="1000" width="1333" msid="105189830" hostid="261" sizebytes="78240"></div><ul><li>Leaked internal email: Apple privately asked Amazon to block rival ads. Product pages for other companies are cluttered with a mix of ads and product recommendations from competitors. Meanwhile, <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-gives-apple-special-treatment-while-others-suffer-junk-ads-2023-11">Apple doesn't have ads or recommendations</a> until the very bottom. </li><li>Twitch CEO is somewhat living the van life. Dan Clancy is traveling the US in a van to <a style="text-decoration: underline;" href="https://www.businessinsider.com/twitch-ceo-driving-van-meet-streamers-ninja-t-pain-report-2023-11">meet top streamers</a> and hear their concerns. Plus, he's reportedly even giving some of them his personal phone number.</li><li>Emails reveal how Amazon and Google tap friends in government to influence policies. Last year, more than 80% of Amazon and Alphabet lobbyists <a style="text-decoration: underline;" href="https://www.businessinsider.com/amazon-google-ustr-lobbyists-policies-government-biden-emails-2023-11">previously held government jobs</a>. Critics say that this relationship lets Big Tech companies limit how they can be regulated.</li></ul><h2>3 things in business</h2><a href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11"></a><div type="image" title="A remote worker on two desktops" height="1500" width="2000" msid="105189832" hostid="261" sizebytes="227270"></div><ul><li>Inside the strange, secretive lives of the "overemployed." Holding multiple jobs has long been the backbreaking way for low-wage workers to get by. But the pandemic has fueled a <a style="text-decoration: underline;" href="https://www.businessinsider.com/overemployed-workers-secret-two-multiple-jobs-salaries-tech-tips-2023-11">similar trend among higher earners</a>. An Insider reporter spent several weeks hanging in the online communities of the overemployed. </li><li>Big firms are now eyeing Airbnb as a moneymaker. A major private-equity firm recently <a style="text-decoration: underline;" href="https://www.businessinsider.com/wall-street-next-airbnb-host-short-term-rental-2023-11">started buying Florida homes</a> to rent on Airbnb. But making a profit can be challenging for individuals and major companies alike. </li><li>Why strikes are working and which industries could be next. Experts said the economy is ripe for <a style="text-decoration: underline;" href="https://www.businessinsider.com/uaw-sagaftra-union-strikes-impact-pay-benefits-economy-healthcare-teachers-2023-11">workers to demand more</a> — partially because of the record profits some companies have recorded recently. They also said healthcare and food service are among the next industries to join the wave. </li></ul><h2>In other news</h2><ul><li><a href="https://www.insider.com/safest-states-in-the-us-ranked-2023-11">The 20 safest states in the US, ranked</a>.</li><li><a href="https://www.insider.com/american-dad-in-sweden-shares-differences-in-schools-2023-11">We moved from the US to Sweden. After-school care was basically free, but my kid barely learned any math</a>.</li><li><a href="https://www.businessinsider.com/spacex-workers-took-adderall-slept-bathroom-iv-treatments-deadlines-report-2023-11">SpaceX workers reportedly took Adderall and IV fluids, and some slept in the bathroom, to keep up with Elon Musk's deadlines</a>.</li><li><a href="https://www.businessinsider.com/how-to-lower-mortgage-rate-monthly-payment-real-estate-expert-2023-11">Four things homebuyers can ask for that could significantly drop the interest rate and monthly payment</a>.</li><li><a href="https://www.businessinsider.com/worked-new-dollar-general-started-falling-apart-before-it-opened-2023-11">"I quit my job at a brand-new Dollar General store after facing flooding, broken freezers, and frosty bathrooms.</a>"</li><li><a href="https://www.businessinsider.com/species-name-celebrity-awareness-regret-taxonomy-2023-11">Naming a species after a celebrity may do more harm than good</a>.</li><li><a href="https://www.businessinsider.com/top-stocks-to-buy-for-upside-analysts-ratings-tipranks-2023-11">These eight "strong buy" stocks are expected to soar by more than 100% to 200%, according to Wall Street's top analysts</a>.</li></ul><h2>What's happening today</h2><ul><li>Happy World Kindness Day! The day is meant to celebrate and spread kindness. It was created by the World Kindness Movement.</li><li>Professional hockey team Vegas Golden Knights visits the White House. The trip is to celebrate the team's 2023 Stanley Cup win.</li><li>Earnings today: Tyson Foods <a style="text-decoration: underline;" href="https://markets.businessinsider.com/earnings-calendar">and other companies</a>.</li></ul><h2>For your bookmarks</h2><a href="https://www.businessinsider.com/guides/deals/black-friday-deals"></a><div type="image" title="black friday gift box" height="1414" width="1885" msid="105189833" hostid="261" sizebytes="50836"></div>Early Black Friday dealsWhat to expect from Black Friday this year (plus, early offers). The guide covers TVs, laptops, fashion, mattresses, toys, <a style="text-decoration: underline;" href="https://www.businessinsider.com/guides/deals/black-friday-deals">and other hot categories</a>.The Insider Today team: <a href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, senior editor and anchor, in New York City. <a href="https://www.businessinsider.com/author/diamond-naga-siu">Diamond Naga Siu</a>, senior reporter, in San Diego. <a href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.

Balance-sheet blowup

<ul><li>You will have to first link your bank account to <keyword id="4878801" type="General" weightage="20" keywordseo="whatsapp-pay" source="Orion">WhatsApp Pay</keyword>.</li><li>The bank account balance can be viewed either from settings or from the payment message screen.</li><li>To view your account balance, you will need to input the UPI PIN.</li></ul>Most of us use WhatsApp as an instant messaging application, but since last year, the Facebook-owned platform has been <a href="https://www.businessinsider.in/tech/news/whatsapp-pay-upi-rolls-out-while-google-pay-phonepe-have-already-got-the-first-sting-with-the-npci-cap/articleshow/79075049.cms">offering UPI payments</a> in India. You can use WhatsApp to send and receive money just like any other UPI payment applications such as Google Pay, PhonePe and Paytm. If you haven’t set up WhatsApp payment, you can do that in the app by heading over to the Payments option in Settings on iOS devices or by tapping the three-dot More options icon on Android devices. Select ‘Add payment method’ and follow the instructions. It’s important to note that you can only select a bank account that is associated with your WhatsApp number. At the end of the process, you will have to set up a PIN which has to be remembered for making further use of the UPI payment services. Once you have set-up the payment method and added a bank account, you can check your bank account’s balance using the two methods given below. <cmsannotation type="cmsannotation" annotationid="Check bank account balance from Settings." comment="subhead" text="Check bank account balance from Settings.">Check bank account balance from Settings.</cmsannotation> <ul><li>Open the WhatsApp application.</li><li>On iOS, tap on Settings at the bottom of the screen, or on Android OS, tap on the three-dot icon at the top right of the main screen.</li><li>Select Payments.</li><li>Under the Payment methods, choose the relevant bank account.</li><li>Tap on View Account Balance and it will prompt you to input the PIN.</li><li>Your bank account balance will be displayed once you enter the PIN.</li></ul><cmsannotation type="cmsannotation" annotationid="Check bank account balance when sending money" comment="subhead" text="Check bank account balance when sending money">Check bank account balance when sending money</cmsannotation> You can also check your account balance while sending money from the payment message screen. Follow the steps below to check your balance. <ul><li>From the payment message screen, tap on the available payment method.</li><li>If you have linked more than one bank account to WhatsApp Pay, tap on the account whose balance you wish to view.</li><li>Now, tap on View Account Balance.</li><li>When prompted, enter the PIN to check your account balance.</li></ul>Alternatively, some banks also offer free banking services to customers over WhatsApp. Save the contact of the WhatsApp chatbot number associated with your bank and send a ‘Hi’ message. A menu of services will be prompted in the chatbox that will include viewing your account balance option. Respond with the selection to view your account balance. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-to-take-screenshots-on-windows-10-8-and-7/articleshow/86168223.cms">How to take screenshots on Windows 10, 8 and 7</a> <a href="https://www.businessinsider.in/how-to-delete-facebook-account-permanently/articleshow/70313851.cms">How to delete Facebook account permanently</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-fix-gmail-if-youre-not-receiving-emails/articleshow/86105969.cms">How to fix Gmail if you're not receiving emails</a>

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