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Inside the island fortress of America's mega-billionaires

If you were in college over the past 20 years or so, you might have some fond — and not so fond — memories of Megabus. The blue double-decker buses with power outlets that worked most of the time and WiFi that worked rarely have for years been an important, if imperfect, way for budget-conscious travelers to get from point A to point B. The trip wasn't always pretty — you often got plopped in front of an obnoxious phone talker or wound up traumatized by the bathroom — but in general, you got where you needed to go for a good price.But now, Megabus is in trouble. Its parent company, Coach USA, <a target="_blank" href="https://www.coachusa.com/news-and-media/coach-usa-initiates-voluntary-chapter-eleven">filed for bankruptcy</a> in June. Megabus is <a target="_blank" href="https://us.megabus.com/routechanges">handing over</a> its routes between cities in the Northeast to other operators and discontinuing some routes in the South altogether. If you take a look at Megabus' <a target="_blank" href="https://x.com/megabus/with_replies">recent Twitter activity</a>, you'll notice the social-media manager's main job lately seems to be explaining to people that, yes, their trip may have been canceled, but no, the company has not gone out of business.Some of what's happened with Megabus has to do with macro factors outside its control. The pandemic was devastating for the already struggling intercity bus industry. The federal government didn't step in to try to shore up the sector like it did with, say, <a target="_blank" href="https://www.businessinsider.com/airlines-coronavirus-bailout-senate-stock-buybacks-2020-3">the airlines</a>. But even before the global catastrophe, there was another particular factor that helped put Megabus on its current downward trajectory: private-equity ownership. Variant Equity Advisors, a Los Angeles-based PE fund, acquired Coach USA in 2019 for $271.4 million and, <a target="_blank" href="https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5">as private equity is wont to do</a>, loaded the bus operator up with debt the company couldn't service once travel came to a halt."A private-equity firm buying bus carriers right before a global pandemic was not the best timing for them," Andrew Savikas, the CEO of Wanderu, a travel-search platform, said.It sounds kind of strange to describe a dirt-cheap bus operation this way, but the original idea behind Megabus was to make the service sort of hip. Stagecoach Group, a UK-based travel company, first launched Megabus in the UK in 2003 and then brought it to the US in 2006. It was an upgrade from the Chinatown buses, which also eschewed terminals and instead did curbside pickup as they shuttled from city to city but often offered a lower-quality experience. Megabus had what at the time were considered fancy amenities like outlets and online ticketing, and above all, it maintained a low price point. Both Megabus and its rival BoltBus, which Greyhound and Peter Pan launched in 2008, <a target="_blank" href="https://time.com/archive/6904383/beating-4-gas-with-a-1-bus/">would lure people in by advertising $1 tickets</a>. That number was largely a gimmick — only a handful of tickets on each bus were a buck — but in general, prices were pretty low."Megabus was the disruptor in the industry," John Stepovy, the director of partnerships for North America at Busbud, a bus-ticketing platform, said. "They were the first to really get away from bus terminals and really go curbside and really focus on students and online and just kind of being that cool brand." Millennials ate it up. High gas prices pushing up the price of air and car travel <a target="_blank" href="https://business.time.com/2012/11/15/reinventing-the-wheels-megabus-and-boltbus/">made bus travel a convenient, affordable alternative</a>, especially in the wake of the financial market that left many young people on their heels. Megabus' strategy of offering a slightly upgraded experience let it escape the dingy, sketchy reputation buses had. (Seriously, ask your friendly local millennial for a bus story, they probably have a good one.) Along with Greyhound, Megabus became one of the two mega-carriers in the United States.The bus market started to weaken in the mid-2010s. Gas prices <a target="_blank" href="https://www.businessinsider.com/gas-prices-hit-6-year-low-2015-12">fell significantly</a> in late 2015 and 2016, making alternative and perhaps more preferable modes of transportation, like flying and driving, cheaper. The German operator FlixBus also launched in the US in 2018, adding another competitor to the field."The magic faded," Joseph Schwieterman, a professor of public service at DePaul University, said. "Suddenly, there's three national carriers. It might've been one too many. So Megabus gradually cut back."Stagecoach announced in late 2018 that it would sell its struggling US division to Variant in a deal that closed in spring 2019. We all know what happened the next year: The pandemic ground travel, including on buses, to a stop. In its bankruptcy filings, Coach USA said bus ridership in 2020 fell by 90%, and by 2023, had only recovered to 45% of its pre-pandemic level. That made it hard for the company to pay on its private-equity-induced debt, most of which it still owes. According to <a target="_blank" href="https://bankruptcy-proxy-api.dowjones.ai/cases/Delaware_Bankruptcy_Court/1--24-bk-11258/Coach_USA_Inc/docs/15.pdf">court filings</a>, Coach USA had $197.8 million in debt when it filed for bankruptcy, including $146.6 million on the loan that funded the Variant deal and $37.7 million on a pandemic-era relief loan. The Megabus brand isn't going away entirely. Coach USA is selling off some of its lines, IP, and retail operations to a holding company. Megabus is handing some of its routes to companies such as Peter Pan and Fullington Trailways while also shuttering some routes altogether. You can still book bus travel on <a target="_blank" href="http://Megabus.com">Megabus.com</a>, but if you look closely, you'll see many of the buses that show up are operated by a different company.While Megabus was ahead of the curve with the power outlets and the online booking and the WiFi, everybody else has caught up. And one of the company's more distinctive features — those double-decker buses — hasn't really worked in the US. Passengers don't seem to love them because the storage space they offer is limited, and some people are uncomfortable not being able to see the driver. They can be extra expensive to operate and so big that, operationally, they don't always make sense."The Megabus double-deckers are mostly a thing of the past," Schwieterman said.Coach USA declined to comment for this story. Megabus and Variant did not respond to requests for comment.The intercity bus industry is not in complete disarray, but things are not going great there. It's still digging out of a pandemic-sized hole, and <a target="_blank" href="https://las.depaul.edu/centers-and-institutes/chaddick-institute-for-metropolitan-development/research-and-publications/Documents/2023%20Outlook%20for%20the%20Intercity%20Bus%20Industry.pdf">ridership is only about 80% to 85%</a> of where it was before. It has benefited from some of the pent-up demand for travel that built up in 2020 and 2021, but not to the extent other industries have as many Americans have opted to travel further afield."You saw revenge travel, and maybe people were flying to places when they hadn't had a chance to go anywhere during the pandemic," Scott Michael, the CEO of the United Motorcoach Association, an industry trade group, said. "It's hard to take a bus to Asia unless you're already there."Outside leisure travelers, remote work also means people who might have taken intercity buses or coaches to commute aren't doing so as frequently.Megabus may be the highest-profile COVID casualty, but it's not the only one. Michael said there were about 3,000 licensed bus and motorcoach companies before the pandemic. Now, that number is around 1,500."Half of the industry is gone, and it's a lot of the smaller companies that were impacted. The larger ones tend to have made it through, with some exceptions obviously," Michael said.BoltBus is gone now, too. Its parent company, Greyhound, shut down its operations in 2021. Greyhound itself was bought for $76 million that same year by FlixMobility (of FlixBus fame). Kai Boysan, the CEO of Flix North America, said BoltBus was shut down because of the pandemic and as part of a broader strategic shift."Bolt Bus was initially launched to target a specific market segment with a low-cost, no-frills service. However, as we assessed the long-term strategy for Greyhound, it became clear that our resources would be better used by focusing on the Greyhound brand," he said.Beyond changing consumer preferences, the industry is also dealing with problems on the operational side, such as rising costs for parts and a shortage of both drivers and mechanics. Bus industry insiders also note that they're often <a target="_blank" href="https://www.governing.com/now/intercity-bus-service-gets-no-respect-from-government">treated as an afterthought</a> by policymakers even though they carry tens of millions of people each year. During the pandemic, intercity buses didn't get a lot of support from the federal government, unlike airlines and <a target="_blank" href="https://railroads.dot.gov/newsroom/press-releases/us-transportation-secretary-pete-buttigieg-announces-169-billion-amtrak-0">trains</a>."You had a lot of companies, a lot of relatively small, independent, family-owned businesses who were waiting in line with everybody else for the kind of assistance that they could get to get through COVID," Savikas, from Wanderu, said. Fred Ferguson, the president and CEO of the American Bus Association, told me that funding the intercity bus industry does get from the federal government — namely, to help them service less populous areas — isn't keeping up with rising costs. He added that some localities are also pushing back against bus terminals because "there's this perception that if you have a bus terminal, you're somehow going to attract people who you don't want in your towns." It's <a target="_blank" href="https://en.wikipedia.org/wiki/NIMBY">NIMBYism</a>, but for the bus stop."What happens is it's the end consumer, and more times than not the end consumer who can't afford a plane ticket, who's getting left behind," Ferguson said. "Megabus and all that, it's just a microcosm for all these bigger problems that we're seeing."It's not just the public sector that's exacerbating the terminals issue; it's the private sector, too. In 2022, Greyhound's former parent company, FirstGroup, sold 33 of its bus stations to Twenty Lake Holdings, a commercial real-estate investor. It's a subsidiary of Alden Global Capital, a hedge fund <a target="_blank" href="https://www.npr.org/2021/10/18/1046952430/the-consequences-of-when-a-hedge-fund-buys-newspapers">notorious for buying up and gutting local newspapers</a>. Twenty Lake can make more money using the real estate for something else, so many of those terminals have already closed, moved, or are expected to do so soon, including in Philadelphia, Dallas, and Chicago. Wanderu estimates that the closures will affect 65% of bus travelers in and out of Philadelphia, 50% in Dallas and Chicago, and virtually everyone in and out of Cleveland."They've been willing to talk to the bus lines," Schwieterman said. "They're not just saying, 'You're out of here, new chapter.' They're reportedly just saying, 'We paid lots of money for these terminals and we have to be financially rewarded for our investments.'"Twenty Lake didn't respond to a request for comment.In short, the intercity bus business is facing some headwinds — and the involvement of private equity and hedge funds is not helping.If you're jonesing to hop on a bus to Boston or New York for the weekend, you have options. There's still Peter Pan, Greyhound, and Flix, plus a fair number of smaller regional and local carriers that will get you where you're going. But your options will most likely be more limited than before. They might also be more expensive, just like everything. I recently bought bus tickets to Atlantic City for the weekend, and I was initially convinced I'd made some sort of mistake, given the cost.According to data from Wanderu, the average price of one-way bus trips across the US for the summer travel period from Memorial Day through Labor Day increased from $45 in 2020 to $68.73 in 2023, though prices dipped slightly in 2024 to $64.01. Wanderu noted that train prices remain higher, going from $68.16 in 2020 to $99.95 this year.People in the bus industry I spoke to were relatively hopeful about its future. They noted that business for charter operations, like bringing a high-school football team to a game or getting workers to a corporate retreat, was starting to pick up. Most expected ridership to bounce back over the next couple of years. Boysan, from FlixBus, said its ridership had increased by 36% from 2022 to 2023, and they're seeing consumers gravitate toward "budget options" given inflation."Travelers are more price-sensitive and looking for ways to save money without sacrificing convenience or comfort," he said. "This trend is especially pronounced among solo travelers, middle-class travelers, and those from lower-income brackets."But even getting back to pre-pandemic levels isn't a total fix, given the steady ridership decline that predated the shutdowns. No one seemed to have a great answer on how to reverse the industry's long-term problems, but many companies are experimenting with some options. Savikas, from Wanderu, said some carriers are implementing <a target="_blank" href="https://www.businessinsider.com/inflation-dynamic-pricing-surge-cost-fatigue-2024-7">airline-like dynamic pricing</a>, where ticket prices change around supply-and-demand dynamics."The goal is to make it more economically sustainable all around," he said. He emphasized that bus travel can be environmentally sustainable, too, compared to everyone driving their own cars or flying. "Buses actually are a pretty green way to get around."Still, bug travel may never be what it once was. "There are questions, probably, if there will be full recovery in certain sectors, in certain regions," Stepovy said.The heyday of hungover 20-somethings dragging themselves onto a Megabus after a slightly too fun weekend is in the rearview mirror. But there's some sort of iteration of it ahead, too, just not on a blue double-decker.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

Millennials loved Megabus. So why did it go mega-bust?

<ul class="summary-list"><li>US stocks fell, ending a six-week win streak for S&amp;P 500 and the Dow.</li><li>Rising bond yields and resilient economic data contributed to the market's pause.</li></ul>US stocks traded mostly lower on Friday, capping off a down week for the S&amp;P 500 and Dow Jones Industrial Average.Both averages ended a six-week win streak on Friday, while a rally in mega-cap tech stocks helped fuel a seventh week of gains and a fresh record high for the Nasdaq. A big surge in bond yields this week served as a big hurdle for investors following a strong rally since the start of the month.The 10-year US Treasury yield has surged nearly 20 basis points this week as macro data points suggest the economy remains resilient and on solid footing.Meanwhile, investors are paying close attention to third-quarter earnings results, with a number of mega-cap tech companies set to report results next week, including Apple, Meta, Microsoft, and Amazon.Commentary surrounding AI monetization trends will be top of mind for investors when they parse through the earnings reports."We expect big tech earnings next week will display a mix of steady operational performance, AI-led revenue acceleration, and resilient advertising that signals ongoing health and innovation," Global X research analyst Ido Caspi told Business Insider."We expect to see further evidence of generative AI moving along its growth curve and continued shift from experimentation to widespread monetization," he added.So far, 36% of S&amp;P 500 companies have reported results. Of those companies, 79% are beating profit estimates by a median of 6%, while 58% are beating revenue estimates by a median of 2%, according to data from Fundstrat.Traders next week will sift through several economic data updates, including September personal consumption expenditures, which is the Fed's preferred inflation gauge, as well as the October jobs report. September's data showed a stunning 254,000 jobs were added in the month.A similarly hot number would likely temper rate-cut expectations further as markets see less urgency from the Fed to prop up the economy.Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,808.12, down 0.03% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 42,114.40, down 0.61% (-256.96 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,518.61, up 0.56%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-market-cap-apple-most-valuable-company-nvda-2024-10">Nvidia briefly dethroned Apple</a> as the largest company in the world on Friday.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nuclear-power-stocks-ai-energy-oklo-smr-nuscale-cameco-bwxt-2024-10">Nuclear power stocks are soaring</a> amid an AI energy rush. </li><li><a target="_blank" rel="" class="" href="https://www.businessinsider.com/versace-parent-stock-plunged-after-affordable-luxury-deal-blocked-2024-10?utm_medium=ingest&amp;utm_source=markets">Versace parent Capri's stock plunged</a> after a judge shot down a merger deal between the company and Coach owner Tapestry.</li><li><a target="_blank" rel="" class="" href="https://www.businessinsider.com/dedollarization-brics-russia-putin-us-dollar-payments-kazan-declaration-currency-2024-10?utm_medium=ingest&amp;utm_source=markets">Vladimir Putin tempered expectations</a> for de-dollarization at a BRICS summit.</li><li><a target="_blank" rel="" class="" href="https://markets.businessinsider.com/news/stocks/tesla-3q-earnings-growth-stock-price-outlook-credits-jpmorgan-2024-10?utm_medium=ingest&amp;utm_source=markets">JPMorgan said</a> some drivers of Tesla's earnings look unsustainable.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil jumped 2.19% to $71.73 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 2.11% to $75.95 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was up 0.30% to $2,757.10 an ounce.</li><li>The 10-year Treasury yield rose by 3 basis points to 4.246%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was lower by 1.83% to $66,914.</li></ul>

Stock market today: S&P 500 ends 6-week win streak, while Nasdaq rises on mega-cap rally

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! You've probably heard about universal basic income. But instead of giving people cash, what if you <a target="_blank" href="https://www.businessinsider.com/federal-jobs-guarantee-universal-basic-income-ubi-employment-economy-2024-8">guaranteed them a job</a>?In today's big story, we're looking at how the startup landscape is drastically changing thanks to <a target="_blank" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">the entrance of private-equity firms</a> and <a target="_blank" href="https://www.businessinsider.com/dealmaking-for-ai-startups-silicon-valley-2024-8">the rise of acquihires</a>.What's on deck<ul><li>Markets: An under-the-radar risk is a <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/ai-stocks-risk-nvidia-gpus-blackwell-tech-outlook-depreciation-accounting-2024-8">ticking time bomb for AI stocks</a>.</li><li>Tech: Elon Musk keeps coming up on the losing end of <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-battle-mark-zuckerberg-meta-lost-cause-2024-8">his battle with Mark Zuckerberg</a>.</li><li>Business: The job market is frozen because <a target="_blank" href="https://www.businessinsider.com/us-job-market-recession-outlook-workers-quitting-hiring-trends-2024-8">everyone's afraid of a recession</a>.But first, let's make a (new kind of) deal.</li></ul>If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">PE meets SV</h2><div type="image" title="Venture Capitalist Businessman walking quickly towards a bright opening, money falling from briefcase" height="500" width="1000" msid="112471541" hostid="261" sizebytes="42250"></div>With startups' exit opportunities becoming few and far between, a new hero is coming to the rescue.<a target="_blank" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">Private equity is filling the gap</a> left by a frozen IPO market and corporates unwilling or unable to cut deals, writes Business Insider's Melia Russell.Hearing "private equity" might send shivers down your spine with visions of cost cutting and headcount reductions. But the PE-startup marriage seems to be working out well thus far.For startups, PE represents a deep-pocketed buyer willing to move quickly, pay a premium, and potentially help the business by tapping into complementary companies in their portfolio.Perhaps most importantly, a PE deal means equity holders get cash immediately, unlike an IPO that has some holding periods.As for PE, the industry has been sitting on a record amount of cash — <a target="_blank" href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-firms-face-pressure-as-dry-powder-hits-record-2-59-trillion-79762227">$2.59 trillion at the end of 2023</a> — as it waits out an uncertain economy. And with multiple startups often competing in similar fields, there is plenty of opportunity for consolidation, a PE specialty.The PE-startup relationship has <a target="_blank" href="https://www.businessinsider.com/private-equity-funds-targeting-buyouts-investments-rollups-european-tech-2023-10">already taken hold in Europe</a>.Startups turning to PE comes with risks. Private equity's push for efficiency, and eventual profit, can sometimes get ugly.But any port in a storm, and right now the startup waters are extra choppy.<div type="image" title="digital wall street virtual remote work 3 4x3" height="1501" width="2001" msid="112471535" hostid="261" sizebytes="139168"></div>PE isn't the only exit opportunity for startups that's trending.Acquihires where the <a target="_blank" href="https://www.businessinsider.com/dealmaking-for-ai-startups-silicon-valley-2024-8">brains behind buzzy AI startups sell themselves</a> (instead of the entire company) to bigger players are in vogue, writes BI's Ben Bergman and Sri Muppidi.On paper, deals like this make a lot of sense. Big Tech has to tread lightly when it comes to acquisitions, lest it draw the attention of regulators. And the usefulness of certain AI tools remains up for debate.But no one doubts the value of the people who know how to build and work with AI.Still, acquihires <a target="_blank" href="https://www.businessinsider.com/ai-startups-acquihires-deals-talent-risks-recruiting-2025-5">can get messy</a>. You can't expect the same results when going from a free-wheeling startup to a big corporation with guardrails. Google's deal for <a target="_blank" href="http://Character.AI">Character.AI</a> meant its two cofounders are returning to a place they previously left due to frustrations over bureaucracy.Of course, they'll be a lot richer this time around, which will ease the pain. The same can't be said for their investors, who won't get the same type of return they'd expect through a traditional deal or IPO.But not unlike startups courting private equity, VCs don't necessarily <a target="_blank" href="https://www.businessinsider.com/vcs-reality-check-ton-of-people-looking-get-out-2024-8">have the benefit of being picky</a>.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/ice-immigration-customs-enforcement-training-deescalation-use-of-force-2024-8">ICE agents 'don't fire warning shots.'</a></li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/jpmorgan-pe-recruiting-crackdown-conflicts-interest-junior-bankers-2024-8">How JPMorgan's crackdown on private-equity recruiting could play out for junior bankers, PE firms, and more</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/susan-wojcicki-dead-2024-8">Susan Wojcicki, former YouTube CEO, has died at 56</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/why-ukraine-is-striking-deep-inside-russian-territory-experts-2024-8">Ukraine is striking targets hundreds of miles inside Russia for 3 key reasons, experts say</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of a speedboat creating waves that look like a volatile stock market graph" height="1500" width="2000" msid="112471536" hostid="261" sizebytes="589344"></div><ol><li>I hope you like market volatility, because it's not going anywhere. Regardless of what happens to the economy, the recent stock-market chaos might be the new norm. The winners and losers of this new environment aren't evident, just that there will be <a target="_blank" href="https://www.businessinsider.com/recession-fears-fueling-stock-market-crash-wall-street-chaos-positive-2024-8">plenty of ups and downs along the way</a>.</li><li>The clock is ticking on AI stocks. There's a lot of chatter about tech companies' investment in AI, but some of that hardware won't stay valuable forever. Depreciation costs to massive GPU chip investments <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/ai-stocks-risk-nvidia-gpus-blackwell-tech-outlook-depreciation-accounting-2024-8">pose a huge risk for AI companies</a>.</li><li>Taylor Swift + Olympics = inflation? They could cause a fresh surge in global inflation, according to UBS. Mega-events like the international sports competition or the Eras Tour could <a target="_blank" href="https://www.businessinsider.com/inflation-outlook-olympics-taylor-swift-us-economy-fed-rate-cuts-2024-8">create sudden shock demand</a>, the European bank said.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A flat tire with a Fisker logo" height="1500" width="2000" msid="112471532" hostid="261" sizebytes="192128"></div><ol><li>Fisker owners struggle to keep cars on the road after the company's collapse. Weeks after Fisker declared bankruptcy, some owners who paid up to $70,000 for electric cars have found themselves with <a target="_blank" href="https://www.businessinsider.com/fisker-owners-describe-chaos-to-keep-cars-running-after-bankruptcy-2024-7">falling-apart vehicles</a>. One compared his car to a "lawn ornament."</li><li>Behold, the "Mythical Reel Pull." Instagram Reels may seem pretty weird lately. Users are stumbling across odd videos, often posted by creators who had no intention of going viral. The strange videos are referred to as "mythical reel pulls," and there may be <a target="_blank" href="https://www.businessinsider.com/instagram-reels-mythical-reel-pull-tiktok-algorithim-account-why-explained-2024-8">a reason for their sudden ubiquity.</a></li><li>Sorry, Musk. Looks like Zuck won this round. Elon Musk's eternal goal of one-upping his rival Mark Zuckerberg is looking <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-battle-mark-zuckerberg-meta-lost-cause-2024-8">more and more like a lost cause</a>. His ongoing fights with advertisers and controversies over false information threaten to set X further behind Zuck's social-media empire.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Photo collage of a plane and cash." height="1500" width="3000" msid="112471539" hostid="261" sizebytes="146608"></div><ol><li>Flying might get better. Airplane travel is the worst it's ever been, but <a target="_blank" href="https://www.businessinsider.com/flying-delays-cancellations-passenger-airlines-air-travel-rights-refunds-fees-2024-8">the Biden administration wants to make it less disastrous for passengers</a>. The message they're sending to the airline industry: You've had too many screwups to be left to your own devices.</li><li>American workers are stuck in their jobs. It's tough to find a job in the US right now — and it's causing workers to feel trapped in their current gigs. <a target="_blank" href="https://www.businessinsider.com/us-job-market-recession-outlook-workers-quitting-hiring-trends-2024-8">This is likely due to a looming fear of a recession</a>, which has historically caused workers to hunker down.</li><li>PE firms &lt;3 public healthcare companies. Revenue cycle management company R1 RCM announced its acquisition by two PE firms for a whopping $8.9 billion, making it the third of its kind to take a buyout this summer. It could be <a target="_blank" href="https://www.businessinsider.com/big-deals-coming-healthcare-startups-take-privates-private-equity-2024">a good sign for startups</a>.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>How Gen Z women are <a target="_blank" href="https://www.businessinsider.com/gen-z-women-personal-finance-investing-stocks-wealth-savings-retirement-2024-8">investing their way to the good life</a>.</li><li>Why Apple should buy Warner Bros. Discovery. <a target="_blank" href="https://www.businessinsider.com/apple-should-buy-warner-bros-discovery-hbo-peter-kafka-2024-8">No, seriously</a>.</li><li>What Maya Rudolph's impression <a target="_blank" href="https://www.businessinsider.com/maya-rudolph-snl-impression-kamala-harris-race-linguistic-trump-2024">reveals about Kamala Harris</a>.</li><li>Two former bankers turned their experience into HBO's most underrated show. <a target="_blank" href="https://www.businessinsider.com/industry-season-3-bankers-true-story-mickey-down-konrad-kay">Now, it's finally getting the attention it deserves</a>.</li><li>A dietitian who researches ultra-processed foods mostly avoids them. <a target="_blank" href="https://www.businessinsider.com/dietitian-avoids-ultra-processed-foods-shares-3-healthy-snacks-2024-8">Here are her 3 favorite healthy, quick snacks</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Donald Trump is interviewed by Elon Musk.</li><li>Buzzfeed and <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">other companies</a> report earnings.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York.

The startup landscape for deals is drastically changing 

<ul><li>Amazon is currently hosting the Mega Electronics Days sale on its platform.</li><li>The company is offering discounts across a wide range of products.</li><li>Here are some of the best deals on the Mega Electronics Days sale.</li></ul>E-commerce giant Amazon is back with its Mega Electronics Days sale, offering discounts across various products, including laptops, smartwatches, headphones, and more. The Mega Electronics Days sale is live and will go on until April 13, so you have ample time to grab your favourite products at a discount. In addition to the discounts being offered, HDFC Bank credit card users can avail an additional 10% discount of up to ₹1,500 on these products. Here are some of the best deals during the sale. <cmsannotation type="cmsannotation" annotationid="Best deals on laptops, smartwatches, and more" comment="subhead" text="Best deals on laptops, smartwatches, and more">Best <keyword id="8170326" type="General" weightage="20" keywordseo="deals-on-laptops" source="Orion">deals on laptops</keyword>, smartwatches, and more</cmsannotation> LG Gram16 <cmsannotation type="cmsannotation" annotationid="B0B4VKN5J5" comment="amazoncard" text="B0B4VKN5J5">B0B4VKN5J5</cmsannotation> The LG Gram16 is a feature-packed laptop and is a great option for professionals looking for a device. It features a 12th gen Intel Core i7 processor with 16GB RAM and a 512GB SSD. It features a 16-inch WQXGA display and comes with Intel Iris Xe graphics. It weighs just 1.14 kg, allowing you to carry it around with you easily. The laptop is currently available for ₹82,990, down from its original price of ₹1,51,000. Asus TUF Gaming A15 <cmsannotation type="cmsannotation" annotationid="B0B5DZTNZQ" comment="amazoncard" text="B0B5DZTNZQ">B0B5DZTNZQ</cmsannotation> The Asus TUF Gaming A15 is a great option if you are in the market for an affordable gaming laptop. The device has a 15.6-inch Full HD display with a 144Hz refresh rate. AMD Ryzen powers it with 5 4600H chipsets coupled with 8GB RAM and a 512GB SSD. The NVIDIA GeForce GTX 1650 graphics handle the graphic duties. The gaming laptop is currently available for ₹49,990, down from its original price of ₹71,990. Apple iPad Air 2022 <cmsannotation type="cmsannotation" annotationid="B09V4FNFHN" comment="amazoncard" text="B09V4FNFHN">B09V4FNFHN</cmsannotation> If you are in the market for a tablet, the iPad Air 2022 is worth considering. It comes with a 10.9-inch Liquid Retina display with True Tone technology. The tablet is powered by the Apple M1 chipset coupled with 64GB of internal storage. The tablet features a 12MP rear camera and a 12MP front camera. The iPad is currently available for ₹53,900, down from its original price of ₹59,900. Apple Watch SE <cmsannotation type="cmsannotation" annotationid="B09G9H7FNX" comment="amazoncard" text="B09G9H7FNX">B09G9H7FNX</cmsannotation> The Apple Watch SE is a good option for iPhone users looking for an affordable smartwatch. The device comes with fall detection and also offers emergency SOS services. It can track your heart rate and can detect the irregular heart rhythm. Apart from this, it offers activity tracking and sleep tracking. The smartwatch is currently available for ₹33,400, down from its original price of ₹36,900. Amazfit GTS 4 <cmsannotation type="cmsannotation" annotationid="B0BBFW3GLM" comment="amazoncard" text="B0BBFW3GLM">B0BBFW3GLM</cmsannotation> If you are an Android user looking for an affordable smartwatch, the Amazfit GTS 4 is worth considering. It comes with a 1.75-inch AMOLED display with Alexa built-in. The watch allows you to track your heart rate, blood oxygen saturation (SpO2), sleep levels, and more. You can also track your workouts and activities easily. The smartwatch is currently available for ₹16,999, down from its original price of ₹23,999. Sony WH-1000XM5 <cmsannotation type="cmsannotation" annotationid="B09XS7JWHH" comment="amazoncard" text="B09XS7JWHH">B09XS7JWHH</cmsannotation> The Sony WH-1000XM5, the company's latest premium offering, is a good option if you are looking for premium headphones. It comes with the company’s V1 chipset that ensures rich audio and clear sound. The headphone also has the QN1 noise cancelation chipset and eight microphones, ensuring a rich audio experience and call quality. It offers 30 hours of battery life on a single charge, and 3 minutes of charging offers 3 hours of usage. The headphone is currently available for ₹26,990, down from its original price of ₹34,990. Sony WF-C500 <cmsannotation type="cmsannotation" annotationid="B09PC695Q9" comment="amazoncard" text="B09PC695Q9">B09PC695Q9</cmsannotation> The Sony WF-C500 is a good option if you are looking for reliable true wireless earbuds. It comes with a compact form factor and fits snugly in your ear. The earbuds come with IPX4 water resistance support, allowing you to use them outdoors and during workouts. It offers a 20-hour battery life, and a 10-minute charge offers an hour of playback. It is currently available for ₹4,490, down from its original price of ₹8,990. OnePlus Buds Z2 <cmsannotation type="cmsannotation" annotationid="B07XWBJ9L1" comment="amazoncard" text="B07XWBJ9L1">B07XWBJ9L1</cmsannotation> If you want a budget TWS option, consider the OnePlus Buds Z2. The fit and finish are stellar, with the buds sitting well in the ears. It has a 3 MIC design, reducing the noise while taking phone calls. The 11mm dynamic drivers deliver bassy sound output with details. You can expect up to 38 hours of music playback time with the product. It is currently available for ₹4,799, down from its original price of ₹5,999. Disclaimer - When you purchase through links on Business Insider India, we may earn affiliate commission. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-plus-smartphone-review/articleshow/99302027.cms">Samsung Galaxy S23 Plus review: The perfect blend of style and substance</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a> <a href="https://www.businessinsider.in/tech/news/9-out-10-tvs-sold-in-india-in-2022-were-smart-tvs-and-nearly-all-of-these-tvs-are-assembled-locally/articleshow/99262205.cms">9 out 10 TVs sold in India in 2022 were smart TVs, and nearly all of these TVs are assembled locally</a>

Amazon Mega Electronics Days sale – best deals on laptops, smartwatches and more

<keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> has secured contracts worth Rs 30,000 crore with <keyword id="19941076" type="General" weightage="20" keywordseo="Nokia" source="keywords" meta.keywordsubtype="org" meta.entityname="Nokia" meta.hostid="261" meta.entityid="Nokia">Nokia</keyword>, <keyword id="19962937" type="General" weightage="20" keywordseo="Ericsson" source="keywords" meta.keywordsubtype="org" meta.entityname="Ericsson" meta.hostid="261" meta.entityid="Ericsson">Ericsson</keyword>, and <keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword>, a PTI report revealed. These contracts, which span a period of three years, are a crucial part of the company's Rs 55,000 crore capital expenditure (capex) plan. The investment will focus on expanding 4G coverage, launching 5G services, and meeting the growing demand for data in India. The debt-laden telecom operator announced the deal as it strives to regain market share in an increasingly competitive industry. Vodafone Idea has faced financial difficulties since its merger in 2018 between Vodafone Group's Indian arm and Aditya Birla Group's Idea Cellular. Since then, the company has struggled to compete with larger rivals such as <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> and Reliance Jio, both of which have made significant inroads into India’s telecom market. The Rs 30,000 crore deal with Nokia, Ericsson, and Samsung is expected to provide Vodafone Idea with the necessary equipment to expand its 4G coverage from 1.03 billion to 1.2 billion people, as well as initiate the rollout of 5G services in key markets. The company confirmed that supplies under the new contract would begin arriving in the next quarter. In a statement, Vodafone Idea said that its primary goal is to enhance 4G connectivity across India while simultaneously preparing to introduce 5G technology. ""Vodafone Idea has concluded a mega, about USD 3.6 billion (around Rs 300 billion), deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years. The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth," the company said in a statement. Akshaya Moondra, CEO of Vodafone Idea, said as per a Livemint report, “"We have kickstarted the investment cycle. We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities. Nokia and Ericsson have been our partners since our inception and this marks another milestone in that continuing partnership. We are pleased to start our new partnership with Samsung. We look forward to work closely with all our partners as we move into the 5G era." (With Reuters and PTI inputs)

Vodafone Idea seals Rs 30,000 crore deal with Nokia, Ericsson, and Samsung for 4G and 5G expansion

<ul class="summary-list"><li>Paramount agreed to merge with Skydance Media after tumultuous acquisition talks.</li><li>But the Hollywood megamerger may face FTC scrutiny.</li></ul>Paramount, the media giant that owns Nickelodeon and MTV, has <a target="_blank" href="https://www.businessinsider.com/paramount-global-agrees-to-merge-with-skydance-shari-redstone-2024-7">finally agreed to a deal</a> with Skydance Media, the companies said late Sunday.The deal includes an acquisition of National Amusements, which holds the controlling stake in Paramount, and a merger of Skydance and Paramount Global.The announcement wraps up the long and confusing <a target="_blank" href="https://www.businessinsider.com/paramount-skydance-agree-merger-terms-reports-2024-6">Hollywood mega-merger</a> with two personalities at the center: Shari Redstone, who owns the controlling stake in Paramount via National Amusements, and David Ellison, the CEO of Skydance.But the drama is not over yet, because the Federal Trade Commission could step in with antitrust concerns. Companies have to review large mergers with the FTC before deals can close.Pleasing the agency might not be easy.The <a target="_blank" href="https://www.businessinsider.com/corporate-america-challenges-joe-biden-mergers-antitrust-ftc-lina-khan-2023-12">FTC and its chair</a>, Lina Khan, have been examining deals more closely and pushing for more <a target="_blank" href="https://www.businessinsider.com/how-amazon-forces-customers-to-pay-more-ftc-lawsuit-2023-9">aggressive competition policies</a> under the Biden administration. Plus, Khan already has Hollywood on her radar.Speaking on an August<a target="_blank" rel=" nofollow" href="https://open.spotify.com/episode/62qDAFAbcBEPxUt2ay0LLt?go=1&amp;sp_cid=19ebded0b4bbfc7a6416a93e7209db91&amp;utm_source=embed_player_p&amp;utm_medium=desktop&amp;nd=1"> podcast</a> from digital media company The Ankler, <a target="_blank" href="https://www.businessinsider.com/why-lina-khan-wrong-about-hollywood-consolidation-market-structure-2023-8">Khan said that </a>Hollywood was already being hurt by unfair market conditions caused by consolidation. She also suggested that her agency would unfavorably view further concentration of power in the sector.Khan blamed consolidation and vertical integration for creating a "market structure where we hear about how <a target="_blank" rel="" href="https://www.businessinsider.com/hollywood-writers-strike-wga-picket-lines-streamers-studios-netflix-disney-2023-5">writers and producers and showrunners are all making less</a>, even as companies are charging customers more."National Amusements engaged antitrust attorneys at the law firm Ropes &amp; Gray in the lead up to the agreement, the law firm said on Sunday. One of the partners involved, Michael McFalls, worked as attorney-advisor to the FTC's chairman from 1998 to 2000, according to Ropes &amp; Gray's website.Skydance, Paramount, and Ropes and Gray did not immediately respond to requests for comment from Business Insider, sent outside standard business hours.<h2 id="b4f9ab93-76a7-495a-970b-698ad310c646">Tech and consumer companies in the FTC's crosshairs</h2>Khan's FTC is targeting various industries, not just Hollywood. Last month, <a target="_blank" href="https://techcrunch.com/2024/06/11/ftc-chair-lina-khan-says-the-agency-is-going-after-the-mob-bosses-in-big-tech/#:~:text=Contact%20Us-,FTC%20Chair%20Lina%20Khan%20tells%20TechCrunch%20the%20agency%20is%20pursuing,mob%20bosses'%20in%20Big%20Tech&amp;text=The%20U.S.%20Federal%20Trade%20Commission,Washington%2C%20D.C.%2C%20on%20Tuesday.">Khan said in a conference</a> that her agency was going after the "mob boss," investigating tech companies that create the "biggest harm."In April, the FTC<a target="_blank" href="https://www.businessinsider.com/ftc-sues-tapestry-capri-coach-michael-kors-kate-spade-2024-4"> sued to block the $8.5 billion acquisition </a>of Michael Kors' parent company Capri Holdings, by Tapestry, which owns Coach and Kate Spade. The FTC said that the proposed merger would deprive millions of American consumers who benefit from competition-induced discounts and innovation.Under Big Tech critic Khan, the agency has also brought several lawsuits against tech giants.In 2022, the FTC repeatedly tried to block Microsoft's acquisition of Activision Blizzard, a leading video game developer. The agency said that the $69 billion deal would suppress competition in gaming.Earlier this year, the FTC <a target="_blank" href="https://www.businessinsider.com/jon-stewart-apple-daily-show-ftc-chair-lina-khan-appletv-2024-4">sued Apple</a> for anticompetitive behavior and <a target="_blank" href="https://www.businessinsider.com/adobe-sued-doj-unfair-subscription-practices-ftc-investigation-signup-cancel-2024-6">Adobe</a> for violating consumer protection laws.The US government has also filed similar recent <a target="_blank" href="https://www.businessinsider.com/amazon-ftc-big-tech-will-never-lose-us-antitrust-case-2023-9">lawsuits against Amazon, </a>Google parent <a target="_blank" href="https://www.businessinsider.com/google-antitrust-trial-big-tech-future-analysis-2024-5">Alphabet</a>, and <a target="_blank" href="https://www.businessinsider.com/ruling-ftc-meta-facebook-lawsuit-instagram-whatsapp-can-proceed-2022-1">Meta</a>.

Paramount and Skydance just agreed to a takeover. But media's messiest deal isn't over yet.

<ul><li><keyword id="14842098" type="General" weightage="20" keywordseo="amazon-mega-music-fest" source="Orion">Amazon Mega Music Fest</keyword> is live till August 31, 2022. </li><li>This music fest can be the right opportunity to purchase headphones, earbuds, soundbars and more from various brands. </li><li>Check out the post below for the best deals available during the Mega Music Fest.</li></ul>The e-commerce giant Amazon never fails to tempt people with its cost-saving offers and deals. For the third time in the month, Amazon has returned with a sale, focusing mainly on audio enthusiasts and music lovers. Commenced on 29 August, Amazon's Mega Music Fest will be live till 31 August at midnight. Amazon offers deals and various electronic products from brands like JBL, Boult, Bose, Zebronics, Sony, Protronics and more. This fest might be a great opportunity to spend less and save more with exciting discounts and offers in the electronics store. To help you grab the best deals and avail the benefits of the sale, we have curated a list below. boAt Rockerz 450 Bluetooth On Ear Headphones <a href="https://www.amazon.in/gp/product/B07PR1CL3S/ref=s9_acss_bw_cg_Babel_2a1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-6&amp;pf_rd_r=6QAC8FN2E7NY8K5KZWYZ&amp;pf_rd_t=101&amp;pf_rd_p=05552f25-a899-44fe-87dd-6a87c14d2df1&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B07PR1CL3S" comment="amazoncard" text="B07PR1CL3S">B07PR1CL3S</cmsannotation></a> During the sale, you can get these headphones from Boat at ₹1,299, less than the original price. It offers 15 hours of playback time and requires 3 hours of charging time. You can connect these headphones with AUX as well as Bluetooth. These headphones can be a great pick at this price. ZEBRONICS Zeb-Juke Bar Soundbar <a href="https://www.amazon.in/gp/product/B09QKZNMVD/ref=s9_acss_bw_cg_julyASH_3e1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-6&amp;pf_rd_r=EPFZXPANQBSKWGMNPGFC&amp;pf_rd_t=101&amp;pf_rd_p=f49e05f5-d068-4266-8eff-8d371d84ea19&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B09QKZNMVD" comment="amazoncard" text="B09QKZNMVD">B09QKZNMVD</cmsannotation></a> Zebronics is offering a 65% discount on this music system. Originally priced at ₹48,999, you can get this system at ₹16,999 only. The system comprises a soundbar with wireless satellites and a subwoofer. The total sound output of 525-watt will provide a theatre-like experience. boAt Stone Bluetooth Speaker <cmsannotation type="cmsannotation" annotationid="B09TDTD3XY" comment="amazoncard" text="B09TDTD3XY">B09TDTD3XY</cmsannotation> If you were looking to buy a compactly designed Bluetooth speaker from Boat, this is the right time. Available at a 54% discount, the speaker is available at ₹1,599 only. It has a battery life of 12 hours with 1.5-2 hours of charging. The speaker is water-resistant and offers multiple connectivity options. Ambrane Stringz 38 Wired Earphones with Mic <a href="https://www.amazon.in/Ambrane-Stringz-Earphones-Powerful-Comfort/dp/B08V58PTDC/ref=lp_17434874031_1_8"><cmsannotation type="cmsannotation" annotationid="B08V58PTDC" comment="amazoncard" text="B08V58PTDC">B08V58PTDC</cmsannotation></a> These earphones from Ambrane Stringz are available at ₹199 only. These wired earphones have a comfortable fit design and come with an in-built mic. It is designed to plug in with a 3.5mm jack. You can easily accept or reject calls and play or pause music with the control button. Noise Buds VS402 Truly Wireless Earbuds <a href="https://www.amazon.in/gp/product/B0B51CFSC3/ref=s9_acss_bw_cg_Babel_2a1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-10&amp;pf_rd_r=EPFZXPANQBSKWGMNPGFC&amp;pf_rd_t=101&amp;pf_rd_p=2fd24c4e-98e0-42d3-b6fa-d9071b228498&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B0B51CFSC3" comment="amazoncard" text="B0B51CFSC3">B0B51CFSC3</cmsannotation></a> Noise offers a 50% discount on these earbuds during the Mega Music Fest. You can get these earbuds for ₹1,999 only. The noise cancellation function lets you receive clear calls even in a noisy atmosphere. It provides instant charge in 10 minutes to offer you 120-minute playtime. You save ₹2,000 on these earbuds. Infinity (JBL) Fuze Pint, Wireless Ultra Portable Mini Speaker <a href="https://www.amazon.in/Infinity-Fuze-Pint-Portable-Wireless/dp/B07W6VWZ8C/ref=sr_1_20?pf_rd_i=25976798031&amp;pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_p=ea6cd10c-160d-47a1-a608-747bfd9ee5f6&amp;pf_rd_r=EPFZXPANQBSKWGMNPGFC&amp;pf_rd_s=merchandised-search-11&amp;pf_rd_t=101&amp;qid=1661839132&amp;refinements=p_85%3A10440599031%2Cp_72%3A1318477031&amp;rps=1&amp;s=electronics&amp;sr=1-20"><cmsannotation type="cmsannotation" annotationid="B07W6VWZ8C" comment="amazoncard" text="B07W6VWZ8C">B07W6VWZ8C</cmsannotation></a> This speaker from Infinity can be great to put your hands on. Available at 899 only, you save 55% during the Mega Music Fest. The compact design makes it easy to carry and enjoy music anywhere. It requires 2.5 hours for charging and offers a playback time of 5 hours. The in-built mic and voice assistant integration lets you to access it even from a certain distance. JBL Commercial CSLM20B Omnidirectional Lavalier Microphone <a href="https://www.amazon.in/gp/product/B08SCCG9D4/ref=s9_acss_bw_cg_julyASH_4e1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-6&amp;pf_rd_r=EPFZXPANQBSKWGMNPGFC&amp;pf_rd_t=101&amp;pf_rd_p=f49e05f5-d068-4266-8eff-8d371d84ea19&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B08SCCG9D4" comment="amazoncard" text="B08SCCG9D4">B08SCCG9D4</cmsannotation></a> The Commercial CSLM20B Omnidirectional Lavalier Microphone can be purchased at a discounted price of ₹913. The 3.5mm TRRS jack is compatible with DSLR cameras and mobile phones. The 6m long cable makes it easy to use. Portronics Pure Sound Pro IV Wireless Bluetooth 5.0 Soundbar <a href="https://www.amazon.in/gp/product/B07BQTRF7S/ref=s9_acss_bw_cg_Babel_4b1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-6&amp;pf_rd_r=6QAC8FN2E7NY8K5KZWYZ&amp;pf_rd_t=101&amp;pf_rd_p=05552f25-a899-44fe-87dd-6a87c14d2df1&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B07BQTRF7S" comment="amazoncard" text="B07BQTRF7S">B07BQTRF7S</cmsannotation></a> Originally priced at ₹3,999, you can now get this speaker from Protronics at a 48% discount and pay ₹2,099 only. It comes with a powerful battery that offers a playback time of 5 hours. The 16W output gives you a loud and enhanced sound experience. The USB and AUX ports make it easy to connect with various devices. Sony WI-C100 Wireless Headphones <a href="https://www.amazon.in/gp/product/B09YLFHFDW/ref=s9_acss_bw_cg_Babel_3c1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-10&amp;pf_rd_r=EPFZXPANQBSKWGMNPGFC&amp;pf_rd_t=101&amp;pf_rd_p=2fd24c4e-98e0-42d3-b6fa-d9071b228498&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B09YLFHFDW" comment="amazoncard" text="B09YLFHFDW">B09YLFHFDW</cmsannotation></a> You can buy these earphones from Sony at a 39% discount. Available at ₹1,699 only, this can be a great deal to avail. It is easy to use and offers hands-free calling. The flexible design of the neckband allows it to fit perfectly and comfortably. Sony WF-1000XM4 Noise Cancellation TWS Bluetooth 5.2 Earbuds <a href="https://www.amazon.in/gp/product/B094C4VDJZ/ref=s9_acss_bw_cg_Babel_2b1_w?pf_rd_m=A1K21FY43GMZF8&amp;pf_rd_s=merchandised-search-6&amp;pf_rd_r=6QAC8FN2E7NY8K5KZWYZ&amp;pf_rd_t=101&amp;pf_rd_p=05552f25-a899-44fe-87dd-6a87c14d2df1&amp;pf_rd_i=25976798031"><cmsannotation type="cmsannotation" annotationid="B094C4VDJZ" comment="amazoncard" text="B094C4VDJZ">B094C4VDJZ</cmsannotation></a> Sony WF-1000XM4 noise-cancelling Bluetooth earbuds are available at ₹17,990. It is designed with an Integrated Processor V1 to offer exceptional sound quality. These earbuds have a smart feature that automatically reduces the volume if you are talking with someone. It has wireless charging and a long-lasting battery life of up to 24 hours. SEE ALSO: <a href="https://www.businessinsider.in/tech-buying-guides/here-are-the-best-bluetooth-speakers-in-india/articleshow/77409415.cms">Best portable Bluetooth speakers in India</a> <a href="https://www.businessinsider.in/tech-buying-guides/best-wireless-over-ear-headphones-india/articleshow/83867032.cms">Best wireless bluetooth headphones in India</a>

Amazon Mega Music Fest: Best deals on headphones, earbuds and speakers

<ul class="summary-list"><li>A Senate committee is asking Bank of America about payments from Leon Black to Jeffrey Epstein.</li><li>The Senate is investigating tax avoidance strategies used by the mega-rich, <a target="_blank" href="https://www.nytimes.com/2024/04/16/business/senate-inquiry-leon-black-jeffrey-epstein.html">The New York Times reports</a>.</li></ul>A Senate committee investigating $158 million in payments that private equity investor Leon Black made to Jeffrey Epstein has brought Bank of America into the mix.Oregon Senator Ron Wyden, chairman of the Senate Finance Committee, sent a letter to the bank earlier this month asking whether it had followed proper protocols in clearing the payments, <a target="_blank" href="https://www.nytimes.com/2024/04/16/business/senate-inquiry-leon-black-jeffrey-epstein.html">The New York Times reports</a>.The payments were related to tax work done by Epstein for Black — the former CEO of Apollo Global Management — between 2012 and 2017, according to the Times.The letter asked whether the payments — which included fees for Epstein's advice on a trust that helped Black save massively on taxes, according to the Times — had raised any concerns at Bank of America.It also inquired whether any art transactions involving Epstein and Black had flagged concerns."The transactions the Committee reviewed were both lawful and conceived, vetted and executed by reputable law firms and tax advisors," Whit Clay, a spokesman for Black, told Business Insider in a statement. "Mr. Black has paid all taxes owed to the government and has provided detailed information on these matters to the Committee."Bank of America declined to comment. The Senate Finance Committee did not immediately respond to BI's request for comment.The Senate Finance Committee <a target="_blank" href="https://www.nytimes.com/2023/07/25/business/leon-black-jeffrey-epstein-senate.html">said in July</a> it was looking into the $158 million that Black had paid Epstein as part of a larger investigation into tax avoidance strategies used by the uber-wealthy, according to the Times.Earlier this month, Black <a target="_blank" href="https://puck.news/leon-black-discusses-jeffrey-epstein/">told Puck</a> that he hadn't realized he'd paid the convicted pedophile — who died in jail shortly after being arrested on federal sex trafficking charges in 2019 — $158 million. Black said it's because that wasn't a "material" sum <a target="_blank" href="https://www.businessinsider.com/leon-black-explains-jeffrey-epstein-payments-billionaires-not-like-us-2024-4">in the context of his vast wealth</a>.

Bank of America's dealings with Leon Black and Jeffrey Epstein are in the Senate's crosshairs

E-commerce giant <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> is currently hosting the Mega Electronics Days sale, offering discounts across a wide range of products, including wearables such as smartwatches and smart bands, audio products such as Bluetooth earphones, speakers and more. The Mega Electronics Days sale is already live and will go on till March 14. If you have been waiting for a sale to purchase your favourite device, now might be a good time. Here are some of the best deals on the Amazon Mega Electronics Days Sale. <cmsannotation type="cmsannotation" annotationid="Additional discount for HDFC credit card users" comment="subhead" text="Additional discount for HDFC credit card users">Additional discount for HDFC credit card users</cmsannotation> In addition to the discounts offered by Amazon, HDFC Bank credit card users can avail an additional 10% instant discount up to ₹1,500 using their credit card. HP 15s- fq5111TU <cmsannotation type="cmsannotation" annotationid="B0B6F5V23N" comment="amazoncard" text="B0B6F5V23N">B0B6F5V23N</cmsannotation> The HP 15s- fq5111TU is a good option if you are looking for a laptop for work or education. The device comes with a lightweight design and features a 15.6-inch Full HD display. It is equipped with a 12th gen Intel Core i5 chipset coupled with 8GB RAM and a 512GB SSD. The battery can be charged to 50% in just 45 minutes. The laptop is currently available for ₹58,428, down from its original price of ₹67,832. Xiaomi Pad 5 <cmsannotation type="cmsannotation" annotationid="B09XXZXQC1" comment="amazoncard" text="B09XXZXQC1">B09XXZXQC1</cmsannotation> The Xiaomi Pad 5 is a good option if you are looking for a feature-packed Android tablet. It features a large 11-inch 2.5K display with a 120Hz refresh rate. The tablet is powered by the Snapdragon 860 chipset and comes with 6GB of RAM and 128GB of internal storage. The tablet features a 13MP camera setup at the back and an 8MP selfie camera. It is powered by a large 8,720mAh battery. The Xiaomi Pad 5 is priced at ₹26,999, down from its original price of ₹37,999. Apple Watch SE <cmsannotation type="cmsannotation" annotationid="B09G9717T5" comment="amazoncard" text="B09G9717T5">B09G9717T5</cmsannotation> The Apple Watch SE is the perfect option for iPhone users looking for a smartwatch without spending a huge amount of money. It comes with activity tracking, high and low heart rate notifications and more. The watch also offers fall detection, crash detection and emergency SOS. The watch is currently available for ₹30,900, down from its original price of ₹33,900. Amazfit T-Rex 2 <cmsannotation type="cmsannotation" annotationid="B0B37V1VZF" comment="amazoncard" text="B0B37V1VZF">B0B37V1VZF</cmsannotation> If you are in the market for a rugged and durable smartwatch, the Amazfit T-Rex 2 is a good option. It comes in a sporty form factor with a 1.39-inch HD AMOLED display with an always-on colour screen. It supports five global navigation systems, blood oxygen monitoring, heart rate monitoring, and sleep tracking. It is water-resistant up to 100 metres. It is currently available for ₹15,999, down from its original price of ₹21,999. Redmi Smart Band Pro <cmsannotation type="cmsannotation" annotationid="B09Q92JKNG" comment="amazoncard" text="B09Q92JKNG">B09Q92JKNG</cmsannotation> The Redmi Smart Band Pro is a good option if you are looking for a fitness band. It features a 1.47-inch AMOLED touch display that allows you to view details such as the time, footsteps, calories burnt and more. The device features a heart rate sensor and also tracks blood oxygen saturation and sleep levels. It features a 5ATM water resistance certification and offers a two-week battery life. It is currently available for ₹2,799, down from its original price of ₹5,999. Sony WF-C500 <cmsannotation type="cmsannotation" annotationid="B09PC695Q9" comment="amazoncard" text="B09PC695Q9">B09PC695Q9</cmsannotation> Sony is one of the most popular names in audio and the Sony WF-C500 is a good option if you are looking for reliable true wireless earbuds. It comes with a compact form factor and fits snugly in your ear. The earbuds come with IPX4 water resistance support, allowing you to use them outdoors and during workouts. It offers a 20-hour battery life and a 10-minute charge offers an hour of playback. It is currently available for ₹5,890, down from its original price of ₹8,990. OnePlus Buds Z2 <cmsannotation type="cmsannotation" annotationid="B07XWBJ9L1" comment="amazoncard" text="B07XWBJ9L1">B07XWBJ9L1</cmsannotation> You can also consider the OnePlus Buds Z2 if you are looking for an affordable TWS that is reliable and offers a good audio experience. The fit and finish is stellar, with the buds sitting well in the ears. It has a 3 MIC design, reducing the noise while taking phone calls. The 11mm dynamic drivers deliver bassy sound output with details. You can expect up to 38 hours of music playback time with the product. It is currently available for ₹4,499, down from its original price of ₹5,999. JBL Flip 4 <cmsannotation type="cmsannotation" annotationid="B01MSYQWNY" comment="amazoncard" text="B01MSYQWNY">B01MSYQWNY</cmsannotation> The popular JBL Flip 4 Bluetooth speaker is one of the must-have devices if you often find yourselves hosting parties or get-togethers. It is a powerful speaker that is waterproof, allowing you to carry it with you to pool parties. It offers over 12 hours of music playback on a single charge and comes with Google Assistant and Siri support. It is available for ₹7,998, down from its original price of ₹9,999. Disclaimer - When you purchase through links on Business Insider India, we may earn affiliate commission.

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