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☆ Retailers jacked up prices and squeezed consumers. They might have just blinked
▼ + stars: | 2024-05-05 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“There’s just less dollars for consumers to spend.”The challenge for retailers now is to shake consumers out of that frugal mindset. Retail spending has increased in seven of the past 10 months through March. “If you want to convince consumers to spend you have to give them a reason to do so. Lower prices are a clear opportunity to drive people into the store or online.”It’s a lever that Walmart, he said, has pulled forever. Clothing chain H&M told analysts during its most recent earnings call that it, too, would lower prices.

Persons: Sarah Wyeth, ”, Chad Lusk, Alvarez, ” Wyeth, “ There’s, they’re, Zak Stambor, Stambor, Joe Raedle, ” Stambor, “, ” Jesper Brodin, ” Brodin, ” Michaels, ” Ashley Buchanan, Michaels, Lars Daniel Ervér, Frida, Chuck, – CNN’s Bryan Mena Organizations: New, New York CNN —, Ikea, Shoppers, “ Retailers, CNN, Walmart, Ingka, “, Cheese, Stambor Locations: New York, Hallandale Beach , Florida

☆ Jam Master Jay murder jury views graphic crime scene photos in death of Run-DMC DJ
▼ + stars: | 2024-01-29 | by ( Laura Italiano | Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

"He died instantly," prosecutor Miranda Gonzalez told jurors, shot in the head at such close range, his hair was singed. Then, "as quickly as they came, they fled," she told jurors. AdvertisementMizell "had a tremendous amount of blood already pooled on the floor," the detective told jurors. "It was an ambush, an execution, motivated by greed and revenge," Gonzalez told jurors. AdvertisementProsecutors allege that before Mizell's death, Mizell told Washington that Washington would not be involved in the drug distribution in Maryland, which led the suspects to plot to kill Mizell.

Persons: —, Jason William Mizell —, Jay —, Miranda Gonzalez, Karl ", Jordan Jr, Ronald, Tinard, James Lusk, Lusk, Tony Rincon, Mizell, Gonzalez, Mizell's, Artie McConnell, Jay Bryant, Jason Mizell, Seth D, DuCharme, Washington, Jordan, he'd, John Diaz, Ezra Spilke Organizations: Service, Business, Queens, of, Jordan, EMS, Eastern, Prosecutors, Associated Press . Locations: New York, Washington, of New York, Jordan, Jamaica, Queens, Rincon, Maryland, Associated Press . Washington

☆ Want to pick a winning retail stock this holiday season? Watch for discounts and deflation
▼ + stars: | 2023-11-22 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +9 min

However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.

Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma

☆ ‘Dark’ ships are faking their locations to move oil around the world — and it's likely worth billions of dollars
▼ + stars: | 2023-09-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Maritime technology company Windward identified the area as a hub for smuggling oil. Cargo ships and car ferries cross the Kerch Strait, an area of "dark activity," according to marine technology company Windward. So that's definitely moved that focus into, okay, I'm now going to manipulate that signal," he told CNBC by video call. This can be done in a number of ways, a Spire spokesperson told CNBC by email. "If you're in the insurance industry, and you're not paying attention to this, you really need to start paying attention," Swift told CNBC by video call.

Persons: John Lusk, Christopher Swift, Foley, Lardner, We're, Lusk, Ami Daniel, Daniel, Good Hope, Iain Goodridge, Spire's, that's, I'm, " Goodridge, OFAC, Swift Organizations: Windward, Europa Press, Getty, Maritime Organization, AIS, Spire Maritime, Government, CNBC, Russia, Anadolu Agency, Venezuela, Spire, U.S . Treasury Department Locations: Morocco, Maritime, Ukraine, U.S, Russia, Kerch, Windward, Arabian, Venezuela, The U.S, East Asia, Angola, Venezuela's, South Africa's, Good, China, Malaysia

☆ Elton John enthralls Glastonbury in final UK show
▼ + stars: | 2023-06-25 | by ( Sachin Ravikumar | Thomson Reuters | Sachin Ravikumar Is A Correspondent For Reuters In London Covering General News Across The Uk. Over Nine Years At Reuters | ) www.reuters.com time to read: +2 min

GLASTONBURY, England, June 25 (Reuters) - Elton John enthralled a massive Glastonbury crowd on Sunday night in possibly his last show in Britain, delighting loyal fans but disappointing others who had hoped for star guest appearances. I never thought I'd ever play Glastonbury. And here I am," John, who wore a glittery golden jacket and rose-tinted glasses, said during the start of his first appearance at Worthy Farm. John, 76, is nearing the end of his final tour, of which Glastonbury was the last British show. Reporting by Sachin Ravikumar; Editing by Jane Merriman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Elton John, delighting, Lewis Capaldi, I'd, John, Jacob Lusk, Stephen Sanchez, Rina Sawayama, Brandon Flowers, Paul McCartney, Bruce Springsteen, Dave Grohl, Elton, Bex Whiting, you've, It's, I've, Sachin Ravikumar, Jane Merriman, Stephen Coates Organizations: Glastonbury, Foo Fighters, Thomson Locations: GLASTONBURY, England, Britain, British, Great Britain, Glastonbury

☆ Russian oligarchs' superyachts have avoided the US west coast and the Mediterranean since Russia invaded Ukraine, heat maps show
▼ + stars: | 2023-02-25 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

Russian oligarchs' superyachts were detected in different regions after the Ukraine war began. Heat maps show oligarchs' yachts have avoided America's west coast and the Mediterranean. The MediterraneanSpire MaritimeSpire's data found that the Mediterranean was a hotspot for Russian oligarchs' superyachts before Russia invaded Ukraine. Turkey still offers a safe haven for Russian oligarchs' assets because it's yet to sanction Russia for its aggression against Ukraine. Arabian SeaSpire MaritimeSpire's data also honed in on the movements of Russian oligarchs' yachts around the Arabian Sea.

☆ These heat maps show the dramatic change in the movements of oligarchs' superyachts since Russia invaded Ukraine
▼ + stars: | 2023-02-08 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

☆ As egg prices climb, advocacy groups and politicians call on FTC to investigate possible price gouging scheme: 'Somebody needs to pay attention'
▼ + stars: | 2023-01-27 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Advocacy group Farm Action and others have asked the FTC to investigate price gouging, pointing to record profits. Egg companies and some experts say a new strain of avian flu, packaging, and transport costs justify the price. While egg companies claim an outbreak of avian flu, combined with inflated transportation and packaging costs, justify record-high prices, others are calling foul. "Somebody needs to pay attention, and we didn't really see anyone asking why," Joe Van Wye, Farm Action's director of policy and outreach, told Insider. The FTC declined to comment on the letters, and Cal-Maine Foods and Sen. Reed did not immediately respond to Insider's requests for comment.

☆ Soaring US egg prices put pressure on consumers, businesses
▼ + stars: | 2023-01-12 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles. But egg prices are up significantly more than other foods — even more than chicken or turkey — because egg farmers were hit harder by the bird flu. But she said bird flu remains a wildcard that could still drive prices higher if there are more sizeable outbreaks at egg farms. Any decrease in egg prices would be welcome at Patti Stobaugh’s two restaurants and two bakeries in Conway and Russelville, Arkansas, because all of her ingredients and supplies are more expensive these days.

☆ The University of California invested $4 billion with Blackstone to buy up rental apartments and student housing, which they see as the bright spots in the real estate market this year
▼ + stars: | 2023-01-03 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

The University of California is investing $4 billion with Blackstone to acquire rentals and student housing. The investment comes at a crucial time for Blackstone's Real Estate Income Trust Inc. fund — also known as BREIT— a $68 billion property investment vehicle. "We consider BREIT to be one of the best positioned, large-scale real estate portfolios in the US, managed by one of the world's top real estate investors," said Jagdeep Singh Bachher, the University of California's chief investment officer. The University of California's investment could become a model for other universities with large endowment funds — typically in the billions of dollars — that want to invest in real estate investment trusts or commercial real estate assets. BREIT's portfolio includes assets in popular college towns such as Fort Collins, Colorado, where Colorado State University is located, and Baton Rouge, Louisiana, which is home to Louisiana State University, according to the fund's website.

☆ Chicken prices are finally starting to fall
▼ + stars: | 2022-11-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN Business —Over the past year, as some meat prices have fallen, chicken prices have remained stubbornly high. In the year through October, not adjusting for seasonal swings, chicken prices had jumped 14.5%, according to data from the Bureau of Labor Statistics. Chicken prices are finally falling. Why chicken prices were highBut the roosters don’t bear all the blame. Still, a decline in wholesale prices eventually leads to a decline in retail prices, which is starting to happen.

☆ Food prices are soaring, and that's changed how we eat
▼ + stars: | 2022-09-24 | by ( Danielle Wiener-Bronner | Cnn Business | ) edition.cnn.com time to read: +9 min

Food prices have spiked 11.4% over the past year , the largest annual increase since May 1979, according to data released in mid-September by the Bureau of Labor Statistics. Grocery prices jumped 13.5% and restaurant menu prices increased 8% in that period. With food prices soaring, people are changing how they shop and eat. Even for those not at risk of hunger, the surges in food prices are jarring. "I saw the food prices going up, and I realized that it was going to quickly overwhelm our budget," she said.

The price of groceries continued to soar in the 12 months that ended in August, climbing by 13.5% — the biggest increase since 1979. Many food categories had double-digit 12-month increases, led by eggs, which surged by 40%; margarine, up by 38%; and flour, which jumped by 23%. "This outbreak has contributed to elevated egg prices and increasing poultry prices as over 40 million birds, 189 commercial flocks, and 39 States have been affected," the department said. The USDA also said food price growth in many categories should abate through the end of the year and into 2023, thanks to higher interest rates, lower commodity prices and lower energy prices. "Food prices are expected to grow more slowly in 2023 than 2022, but still above historical average rates," the Agriculture Department said.

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