Fortune

A South Korean instant noodle maker’s stock jumped by their daily limit Friday after posting better-than-expected earnings with help from a product recently featured on social media by rapper Cardi B. Shares of Samyang Foods Co. soared by 30% to a record high. With the recent attention surrounding its buldak noodles, the company’s stock has more than doubled this year, pushing its market value to nearly $2.5 billion, surpassing that of rival NongShim Co. for the first time since the 1980s. Samyang Foods’ first-quarter operating profit more than tripled compared with a year earlier to 80.1 billion won ($59 million), according to its results released after Thursday’s market close in Seoul. Sales in its instant noodle division jumped more than 50%, boosted by exports of its buldak noodles. Read more: https://lnkd.in/e-cHvru6

“New Yorkers may not know this about me—but I hate rats, and I’m confident most of our city’s residents do as well." New York City is famous for its sights—not least its giant piles of trash bags. And those have made the city so ripe for rat infestation that Mayor Eric Adams is calling a national summit to tackle the problem. This is the mayor who already moved to reform trash collection (what he called a “24-hour rat buffet) and created a position in his administration for a “Rat Czar.” "The best way to defeat our enemy is to know our enemy," he said in a statement. That’s why Adams’ administration is hosting this inaugural summit on September 18 and 19 in partnership with New York City Department of Health and Mental Hygiene and the New York State Integrated Pest Management Program at Cornell University. Read more: https://lnkd.in/ezpSucrJ

Get ready for apartments with smart toilets, biofiltration systems that improve indoor air quality, and planned residences that aim to create their very own Blue Zones by providing everything from “clean cuisine” to holistic health services for its residents. It’s all part of what’s known as real estate wellness, and it’s the fastest-growing market in a $5.6 trillion global wellness economy, according to a new report from the research-based nonprofit Global Wellness Institute (GWI). While other elements in the race for longevity revolve around more familiar trends such as nutrition, spa treatments, and high-end fitness programs, real estate wellness refers to residential and commercial buildings that are proactively designed, built, and operated to support the holistic health of their residents. Read more from Fortune Well:

Jan Leike, OpenAI’s head of alignment whose team focused on AI safety, has resigned from the company, saying that over the past years, “safety culture and processes have taken a backseat to shiny products.” In a post on X, the former Twitter, Leike added that he had been “disagreeing with OpenAI leadership about the company’s core priorities for quite some time, until we reached a breaking point.” OpenAI is “shouldering an enormous responsibility on behalf of humanity,” he continued. “We are getting long overdue in getting incredibly serious about the implications of AGI [artificial general intelligence.” Leike’s resignation comes just a couple of days after his co-lead on OpenAI’s ‘Superalignment’ team, chief scientist Ilya Sutskever, announced he was leaving the company. In his post announcing his departure, Sustskever wrote that he was “confident that OpenAI will build AGI that is both safe and beneficial.” Read more: https://lnkd.in/eftC-w-s

HR teams are under increasing pressure to fix their company’s many talent troubles, from worker shortages, to demands for better employee benefits, and guiding workers through the AI revolution. In the past, figuring out a solution to these issues would have meant blindly investing in a costly or time-intensive initiative, rolling it out to all workers, crossing one’s fingers and hoping for the best. In other words, throwing spaghetti at the wall and seeing what sticks. But what if HR operated more like a research and development lab, by testing out new benefits or talent development programs like product pilots? DoorDash’s chief people officer Mariana G., says it’s a new style of operating that she’s seeing gain traction within the HR community. “One of the things that’s super interesting about the people function is that more and more you’re starting to see the function operate, which I think is super exciting, in very similar ways as a product function does,” Garavaglia tells Fortune. That involves experimenting with a new initiative like a training program or mentoring groups by launching it among a small number of employees, analyzing feedback, and scrutinizing any pain points that teams are experiencing before launching it on a larger scale. Read more: https://lnkd.in/ekR9f3VR

Millennial and Gen Z heirs are eagerly awaiting a so-called “great wealth transfer,” worth potentially $84 trillion, from baby boomer parents or relatives. And many of them may be waiting a bit longer than they’d expect. That’s according to Stephen Sikes, chief operating officer of investing platform Public who says the bulk of the wealth transfer is still 10 to 15 years away—at least. “The truth is, if you look at the weighted average age of inheritance, it’s in the fifties—high fifties,” Sikes said during a conversation at #FortuneFinance. “People don’t inherit money in their twenties and thirties outside of quite tragic circumstances.” Read more: https://lnkd.in/ea4xmNYE

Ex-White House communications director Anthony Scaramucci and former presidential candidate Andrew Yang were guests at the Fortune Future of Finance conference on Thursday. The subject of the 2024 election came up. When asked about the impact that a return of former President Donald Trump would have on the business landscape if he were reelected, Scaramucci was blunt: “terrible.” “He would be terrible for the economy and terrible for business,” said the founder and managing partner of SkyBridge Capital. The economy has been predictable, and favorable for businesses, because of constitutional separation of powers, Scaramucci explained. bit.ly/3WNVRDy

Workers are having a tough time. Young employees are missing nearly a day of work per week due to stress, the majority of staff members are at risk for burnout, and mental health struggles are the cause of a $47.6 billion productivity loss for the economy every year. Workers are desperate for psychological support, but few bosses are actually attending to their needs. “People are still dealing with the after effects of the pandemic,” Devjani Mishra, a partner at Littler, tells Fortune. “In tandem with that, you have some people newly being diagnosed with mental health conditions that they may have never sought help for before, along with employees becoming more familiar with asking for some kind of accommodation.” But just because workers are more willing to disclose their mental health struggles with employers doesn’t mean those employers are helping. Read more: https://lnkd.in/ewGqJ-xg

A 25-year-old Bank of America Corp. credit trader died suddenly on Thursday night. Adnan Deumic, a credit portfolio and algorithmic trader, collapsed of a suspected cardiac arrest playing soccer at an industry event and failed to respond to medical treatment including CPR, according to a person briefed on the matter. He joined the bank on the global markets team in 2022 after participating in the summer analyst program the previous year. The death is the second in recent weeks involving a young employee within the firm’s Wall Street divisions. Read more: https://lnkd.in/eBbRUrSm

The U.S. needs to engage with China and view it as a competitor rather than a hostile power, said JPMorgan Chase CEO Jamie Dimon. “China is not a natural enemy of the United States,” he told Bloomberg Television. China has a different view of the world than the U.S., Dimon added, but it has the right to protect its interests and national security just as the U.S. does. Ostracizing China is not the way forward. “I think it’s the right thing for America to fully and deeply engage with China competitively,” he told Bloomberg. Read more: https://lnkd.in/eHMd_hc4