• Killer whales took down another yacht on Monday as the Mediterranean yachting season begins.
• It's the latest incident of orcas clashing with boats, which has been on the rise in recent years.
• Marine biologists say the orcas are likely playing and may be learning the behavior from each other.

The Mediterranean yachting season has kicked off for the summer — and it didn't take long for another yacht to fall victim to a killer whale encounter.

A group of orcas sank a 50-foot sailing yacht in Moroccan waters on Sunday in the latest of several similar incidents involving the highly social species that have occurred over the past four years.

An unknown number of orcas were involved in the incident, which took place in the Strait of Gibraltar, Spain's maritime rescue service said Monday, according to Reuters.

The incident is the most recent in a spate of bizarre orca encounters with boats that have been on the rise in recent years, primarily in Mediterranean waters south of Spain, where many yachts cruise during the summer months.

Two passengers were on board the Alboran Cognac around 9 a.m. local time on Sunday when they felt sudden hits to the hull and rudder, Reuters reported, citing the maritime service. Water soon started to pour into the yacht.

A nearby oil tanker came to the people's rescue, saving them from the waterlogged ship and delivering them to land.

But the yacht wasn't as lucky. The Alboran Cognac stayed adrift for a time until it ultimately sank.

Since 2020, hundreds of similar encounters between boats and orcas have been documented off the southern coasts of Spain and Portugal, often near the Strait of Gibraltar. And it's not just yachts. The orcas have also rammed into sailboats, and some mariners have even created heavy-metal playlists in hopes of deterring the killer whales — though experts say it'll do little to help.

Researchers say the clashes typically follow a similar pattern, with a killer whale repeatedly ramming into the rudder of a ship, often until it breaks and the boat is stranded. Most of the time, the ships are able to escape with minimal damage, but several boats have sunk.

While the so-called orca "attacks" may appear violent, marine biologists have said it's unlikely the encounters are actually malicious. Several experts told Business Insider last year that the orcas are probably just playing.

Andrew Trites, director of the Marine Mammal Research Unit at the University of British Columbia in Canada, said ramming into the boats may simply be a "playful activity that's gotten way out of hand."

Researchers have also said the killer whales may be learning the behavior from each other through simple imitation.

• A legendary Danish coin collection will go up for sale later this year after 100 years.
• The auction house handling the sale says the collection is worth $72 million.
• The tycoon who compiled the collection stipulated it could not be sold until 100 years after his death.

One of the most valuable privately-owned coin collections is headed to auction later this year after spending more than a century shrouded in secrecy.

The collection once belonged to Danish businessman and butter tycoon Lars Emil Bruun, who spent decades compiling the nearly 20,000 coins, bank notes, and medals that comprise the set. For over a century, the collection has been kept out of the public eye due to a stipulation in Bruun's will that forbade the coins from being sold until a century after his death in 1923 at 71.

Emotionally impacted by the devastation of World War I, Bruun determined the collection should be kept as backup reserves for Denmark should a second war ravage Europe, The Washington Post reported.

The collection in total is estimated to be worth up to $72 million, making it the most valuable coin collection ever to go to sale, according to Stack's Bowers, the New York rare coin dealer and auction house overseeing the sale.

The proceeds from the sales will go to Bruun's heirs. At least one of Bruun's descendants was involved in an effort to negotiate a sale of the coins to a museum in Denmark before the required century of waiting was up, but Danish authorities ultimately shut down the sale, citing the businessman's will, The Post reported.

Bruun began collecting coins as a boy in the 1850s and 1860s, long before he made millions exporting butter to England and other countries, according to The Associated Press. His vast wealth allowed him to continue pursuing his coin hobby in later years. Bruun initially kept his collection at Frederiksborg Castle, the former royal residence located north of Copenhagen, but it was later moved to the Danish Central Bank, per The Post.

Since 2011, however, the collection has lived in a secret location of which even coin enthusiasts are in the dark.

"When I first heard about the collection, I was in disbelief," Vicken Yegparian, vice president of numismatics at Stack's Bowers Galleries, told The AP, calling the collection "the best open secret ever."

The National Museum of Denmark got first dibs on the collection, ultimately snagging seven rare coins, including six gold and one silver, that were minted for $1.1 million, according to the outlet.

"We chose coins that were unique. They are described in literature as the only existing specimen of this kind," Helle Horsnaes, senior researcher at Denmark's National Museum, told The AP.

The sales are set to begin this fall and could take anywhere from three to five years, according to Stack's Bowers.

Some pieces in the collection could go for as cheap as $50, while others could fetch $1 million, Yegparian told The AP.

• College students in Singapore are pulling out all stops in pursuit of careers in investment banking.
• Some say that padding their résumés with multiple internships is their best shot at getting the job.
• An ex-banker told BI that snagging a job in investment banking has gotten "super, super intensive."

Channon Loh, 22, is a man on a mission.

The freshman at the National University of Singapore, or NUS, is on his third finance internship, but he says he's just getting started.

Loh told Business Insider he plans to complete nine to 10 internships before he graduates. All this, the business administration student says, is part of his quest to land a job with a big bank like Goldman Sachs or JPMorgan.

In addition to clocking multiple internships, Loh said he's striving to maintain a perfect GPA every semester.

"I have to grind a lot for academics and then do internships on top of that," Loh said. "But I think that's the kind of trade-off that most high finance people would make."

Committing to the grind

Working at a top bank like Goldman Sachs or JPMorgan has long been the ultimate goal for those who want to make their mark in finance. Besides six-figure starting salaries, staffers may get the opportunity to work on mega-deals and interact with C-suite clients.

But getting your foot into the door is a major undertaking.

Landing a summer internship at Goldman Sachs is even harder than getting into Harvard. Goldman's internship acceptance rates globally were about 1.5% in 2022, way lower than Harvard's 3.19% acceptance rate in the same year.

And while landing a job at Goldman Sachs or JPMorgan is hard anywhere, in Singapore, there's the added societal pressure of "kiasu" — a colloquial term that roughly translates to "fear of losing" and is often used to describe the nation's cultural ethos.

This is, after all, the land of Crazy Rich Asians luxury and tiger moms. Though efforts have been made to level the playing field, grinding one's way into an elite school and a plush, high-paying job is still a marker of success.

Many Singapore students have adopted a similar playbook to Loh's, padding their résumés with stacks of internships in the hopes of landing a spot at a top bank.

Eric Sim, a former managing director at UBS Investment Bank and the author of the career book, "Small Actions," told BI that snagging a job at an investment bank has gotten "super, super intensive."

"Previously, you could get an offer with one good internship. Now, you have to do multiple internships," Sim said.

It's also about networking, he said: "Now it's not just about applying and getting a job, you need to get to know the working professionals out there so they will put in a good word for you and refer you to openings."

Peer pressure is a huge driver

Adnan Hussain, 25, is currently a senior at NUS. He said he and his friends had a hard time landing their first internships as freshmen.

"We applied for a lot of roles and cold-emailed, like, over 100 companies," Hussain told BI.

Hussain ended up doing five internships throughout his college career, including stints at a hedge fund and a private bank. He says he has accepted a full-time job offer in sales and trading at a top European bank.

Hussain said his internships have ranged from summer programs that run for 10 weeks to off-cycle positions that can run for five to six months.

Hussain added that peer pressure fueled the rat race for many of his peers.

"There's so much stress seeing friends taking a whole semester off to do an internship. If you are not taking the semester off, you'll be like, 'Oh, am I doing something wrong?'" Hussain said.

Consider Nicholas Tan, 24, a final-year student at Singapore Management University, or SMU. Tan is slated to join a top European bank as an investment banking analyst this summer.

Tan said he took a leave of absence, or LOA, for one semester in his sophomore year to intern at an investment firm.

"I did one LOA, but I know of juniors who have done two or three LOAs just to polish up their résumés and ensure they have a better chance of getting their dream jobs. It's becoming more and more common," said Tan.

Duo Geng Goh, who cofounded CareerSocius, a social enterprise that provides career advisory services to local universities in Singapore, said it has "become increasingly common for students to take on more internships."

While most students would have completed about two internships five to ten years ago, Goh said it's not unusual for investment banking aspirants to take time off school to complete as many as seven internships these days — it's just a matter of finding enough time to do so.

Besides tapping on their summer and winter breaks, students can take one or two LOAs to complete internships as well — which would add up to seven or eight internships throughout college.

But the race to complete multiple internships, Goh says, doesn't apply to banking in general.

"The students that want to get into commercial banking or corporate banking don't have to do as many internships as those aspiring to do investment banking," said Goh, who is also the strategy and people director at Glints, an online job portal.

The grind isn't for everyone

Of course, not everyone buys into the grind.

Yen Chi Ang, 21, an NUS sophomore, said while she is gunning for a career in sales and trading, the rat race isn't everything.

"I think it's important to hedge your risks. If you do six or seven internships when you're in university and you land a great job, that's wonderful," said Ang.

"But what if you don't? You just ended up spending the best years of your youth chasing something, only to end up with nothing," she added.

Students like Ang have a point, said Adrian Choo, the CEO and cofounder of a Singapore-based career strategy consultancy, Career Agility International.

Students need to think about what exactly they want to get out of an internship, Choo said.

"If you're doing it just for the sake of beating the guy next to you, I don't think that's what hiring managers are looking for. It's not a numbers game," he added.

And students can probably pick up technical skills and important soft skills from just one internship, said Sim, the former banker. Sim said hiring managers also care about candidates' soft skills.

"What I look out for is whether you have the social skills to talk to customers. Banking is really a sales job. You need to win the mandate from the customers," Sim said.

But for some students like NUS' Loh, forging ahead remains the goal, no matter what it takes.

"I think effort-wise, there really is no limit for me. Would I rather enjoy now but be mediocre in life or, worse, suffer later? Or would I rather grind now but gain the potential to succeed in the future? The latter resonates with me infinitely more," Loh said.

• Michael Cohen gave his long-awaited testimony Monday in Trump's hush-money trial.
• Much of his most damning testimony came when he quoted what he described as Trump's own words.
• Trump knew exactly what was going on when Cohen paid hush-money to Stormy Daniels, Cohen testified.

When Michael Cohen was arranging hush-money payments for Stormy Daniels, he tried very hard to keep Donald Trump's name out of it.

But in his under-oath testimony for Trump's criminal trial Monday, Cohen placed Trump firmly in the room where it happened.

Trump's attorney-turned-nemesis quoted his former boss extensively, telling jurors about key moments when the billionaire-turned-candidate participated fully in the plot to keep Daniels quiet ahead of the 2016 election.

The Manhattan district attorney's office has accused Trump of falsifying 34 different documents — including checks bearing Trump's signature — to hide an election-influencing, $130,000 hush-money payment that silenced the porn star 11 days before the vote.

Trump's legal team has cast all the blame on Cohen, suggesting he went rogue and came up with the hush-money scheme without the former president's approval.

On the witness stand, Cohen spoke cautiously, walking jurors through his long history as Trump's sometimes bullying "fixer." Trump, having heard much of the story before, appeared almost bored at the defense table. For minutes at a time, he closed his eyes and leaned back in his chair without moving.

Here are nine key moments in Cohen's testimony when he did the greatest damage to his former boss simply by quoting what he said were Trump's own words.

1. "You know what? Just be prepared — there's going to be a lot of women coming forward."

Cohen, who began working for Trump in 2007, talked to Trump for years about running for president. Cohen testified that the real-estate mogul had considered a campaign in 2011 but ultimately decided against it, resolving to run in the "next election cycle."

In 2015, Trump told Cohen he would run for president.

"You know when this comes out," Cohen said, quoting Trump talking about the announcement, "just be prepared there's going to be a lot of women coming forward."

It was in that context, Cohen said, that he met with American Media Inc. publisher David Pecker in Trump Tower to discuss pushing positive stories about Trump in publications like the National Enquirer, and to get a heads-up about stories that could damage the campaign.

"What he said was that he could keep an eye out for anything negative about Mr. Trump and that he would be able to help us know in advance what was coming out and to try to stop it from coming out," Cohen said.

2. "That's fantastic. That's unbelievable."

The meeting with David Pecker was a success.

The National Enquirer ran a series of positive articles about Trump. And it ran sensationalistic articles attacking his opponents — claiming that Hillary Clinton wore "very thick glasses" to bolster a conspiracy theory of some brain injury, a photograph of Ted Cruz's father hanging out with Lee Harvey Oswald, and a theory that Marco Rubio participated in a "drug binge" with a group of men in a swimming pool.

Trump was over the moon, Cohen testified.

"That's fantastic. That's unbelievable," Trump said, according to Cohen.

Pecker was happy, too, Cohen said. Trump's celebrity overlapped with the National Enquirer's target audience of grocery store checkout magazine buyers.

Trump's knowledge of how Cohen was working with the National Enquirer bolsters the prosecutors' theory that all these machinations were about supporting Trump's campaign. Personal issues — like keeping news of an alleged affair away from Melania Trump — were secondary.

3. "She's really beautiful… Make sure it doesn't get released."

In June of 2016, Cohen got a call from AMI telling him that a former Playboy playmate, Karen McDougal, was shopping around a story about having sex with Trump.

When Cohen told Trump about it, his response was, "She's really beautiful," Cohen said.

"Okay. But there is a story that's right now being shopped," Cohen said he replied.

Trump instructed Cohen to "Make sure it doesn't get released" and work with Pecker and National Enquirer editor to purchase the rights to McDougal's story — and then make sure it never got to see the light of day, he said.

Pecker came back to Cohen and said it would cost $150,000 to "control the story," Cohen testified.

"No problem. I will take care of it," Trump said, according to Cohen.

4. "Do it. Take care of it."

In 2011 — long before Trump ran for president on the Republican ticket — Cohen was involved in convincing another gossip website to pull an article involving Daniels and Trump.

TheDirty.com ran an interview with Daniels where she talked, in broad strokes, about a fling with Trump at a celebrity golf tournament in 2006. Trump wanted the story taken down.

"I said I'll take care of it," Cohen testified Monday. "He said, 'Absolutely, do it, take care of it.'"

Cohen said he threatened to sue TheDirty.com's publisher, and the story disappeared from the website.

Perhaps most damningly is what Trump didn't say to Cohen.

Cohen said he asked, but Trump would not say whether he and Daniels really had sex.

"He turned around and said that she was a beautiful woman," as he walked out of the room, Cohen said.

5. "Women will hate me. Guys, they'll think it's cool."

Daniels dropped out of Trump's life, again, between 2011 and much of 2016.

Weeks before the election, she returned with the force of a hurricane.

It was just after The Washington Post published the "Access Hollywood" tape, which Trump believed hurt his reputation among women voters.

Keith Davidson, her lawyer, was in talks with The National Enquirer about the rights to her story, where she could share all the vivid details about what she said was a sexual encounter with Trump.

Trump was livid, Cohen said.

"I thought you had this under control. I thought you took care of this," Trump said, according to Cohen.

"Just take care of it," Trump then commanded, according to Cohen, saying he was too busy with other parts of the campaign.

Cohen said Trump acknowledged his polling with women was poor and understood the damage that Daniels' story could do to his candidacy — a key detail for prosecutors, who want to show jurors that Trump wanted to suppress Daniels's story for his own campaign.

"This was a disaster. A total disaster. Women are going to hate me," Trump said, according to Cohen. "This is a real disaster. Women will hate me. Guys, they'll think it was cool."

Trump ordered Cohen to work with Pecker to get the story under control.

"Get control over this. Get the life rights," Trump said, according to Cohen. "We needed to control this from coming out."

6. "Meet up with Allen Weisselberg and figure this whole thing out."

In mid-October 2016, when discussing the idea of cutting a hush-money deal with Daniels, Trump told Cohen to get Allen Weisselberg, the then-Trump Organization CFO, on the case to figure it out, Cohen testified.

"Meet up with Allen Weisselberg and figure this whole thing out," Cohen said Trump ordered.

"Just pay it," Cohen testified Trump also told him. "There's no reason to keep this thing out there."

7. "If I win, it has no relevance because I'm president. And if I lose, I don't even care."

But when the time came to cut an actual check, Trump — ever the penny-pincher — didn't actually want to pay Daniels anything, Cohen testified.

According to Cohen, Trump's goal was to postpone the payment until after the November 2016 election, at which point he didn't think it would matter.

"If I win, it has no relevance, because I'm president," Trump said, according to Cohen. "And if I lose, I don't even care."

"He wasn't thinking about Melania," Cohen added of Trump.

"This was all about the campaign."

Cohen would wind up borrowing the money on a home equity loan and paying personally. He would wire the money to Daniels' lawyer just 11 days before the election, according to records in evidence at the trial.

8. "Good. Good. Don't worry you'll get it back"

When Trump learned from Cohen and Weisselberg that his then-fixer would foot the $130,000 payment to Daniels, he assured Cohen he'd get the money back.

"Allen and I spoke to Mr. Trump," Cohen said. "And we expressed to him that I was going to front the money for it." Trump "was appreciative," Cohen testified.

"Good. Good," Trump said, according to Cohen. "Don't worry you'll get it back."

With Trump unwilling to pay himself, it was the only way to silence Daniels and protect "the boss," Cohen said.

Weisselberg had floated the idea of tapping the money from someone who was about to pay for a golf club membership, or to see if someone wanted credit for a bar mitzvah or wedding.

But that would mean using Trump money, Cohen noted, and the whole point was keeping the boss' name off things.

Cohen suggested to Weisselberg that he pay, noting of the then-CFO's salary, "you have seven figures."

"Michael, as you know, I have my four grandkids at prep school," Weisselberg demurred, according to Cohen. "And I have summer camps I'm paying for them, and I just can't do it."

"I ultimately said, OK, I'll pay it," Cohen told jurors.

9. "Don't worry about that other thing."

Cohen said he was livid in December 2016, when the then-president-elect stiffed him on his expected holiday bonus.

"I used quite a few expletives," complaining to Weisselberg, Cohen told jurors. "I was, even for myself, unusually angry."

Word must have got back to Trump, who was spending the holiday at Mar-a-Lago.

"Did Mr. Trump call you while you were on vacation?" prosecutor Susan Hoffinger asked.

"He did," Cohen answered. After a few tense pleasantries, Trump assured Cohen, "Don't worry about that other thing. I'm going to take care of it when I get back" from Florida, Trump promised, according to Cohen.

"We'll take care of it when we all get back," he said Trump promised.