DIRS.INFO The most relevant business & tech news

☆ How the UAW’s win may change the South
▼ + stars: | 2024-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Now, the United Auto Workers has dealt a serious blow to that model: winning a landslide union victory after decades of failing to unionize automakers in the South. It’s the UAW’s first win in trying to represent workers at a foreign car manufacturing plant in the South. Before Friday’s win, the highest profile union election held in the South in recent years was the attempt to organize Amazon warehouse workers in Alabama in 2022. Bill Lee in 2019 visited Volkswagen’s plant in Chattanooga to encourage workers to reject the union, and former South Carolina Gov. But the Volkswagen win, said UAW President Shawn Fain to CNN, shows that politics are not an insurmountable obstacle when it comes to organizing in the South.

Persons: Stephen Silvia, Southern, ” Silvia, – Tesla, Tesla, Henry McMaster, Kay Ivey, “, ”, Erica Smiley, Honda, Friday’s, you’ve, they’ve, Bill Lee, Nikki Haley, Biden —, Shawn Fain, “ Trump, ” Fain, “ I’m, George Walker IV, Harley Shaiken, Justice, CNN’s Chris Isidore Organizations: New, New York CNN, United Auto Workers, UAW, American University, Southern Gamble, Workers, Foreign, Volkswagen, Mercedes, BMW, Honda, Hyundai, Mazda, Nissan, Subaru, Toyota, Volvo, –, South Carolina Gov, Alabama Gov, “ Unions, Justice, Union, Auto, South Detroit, Benz, Kia, P Global Market Intelligence, Republicans, Environmental Defense Fund, Southern, “, GOP, Tennessee Gov, Democratic, CNN, Tennessee, AP, Chattanooga won’t, University of California, Jobs Locations: New York, United States, Volkswagen’s, Chattanooga , Tennessee, Tennessee, South Carolina, North Carolina, Louisiana, Texas, Mercedes, Vance , Alabama, Alabama, Smyrna , Tennessee, Spartanburg , South Carolina, Lincoln , Alabama, Southern, South, Chattanooga, Georgia, Berkeley

☆ Private equity finds its next bet: college admissions
▼ + stars: | 2024-04-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Now, private equity firms are swooping in to help while taking majority stakes in exchange. Last week, the company announced that it would partner with California-based private equity firm Nexus Capital Management and move its test into a for-profit company. A company owned by private equity can obfuscate what the company actually does to the public and potentially to regulators. Private equity firms “come into industries that are already suffering from a lack of funding,” said Creeks. They’ve had a lack of funding and support and so sometimes private equity is the only viable option.

Persons: New York CNN — It’s, Janet Godwin, “, ” Goodwin, ”, we’ve, Charlie Eaton, Goodwin, Critics, Constantine Yannelis, Rebecca Winthrop, They’ve, ” Powell, Jerome Powell, Powell, Bryan Mena, Chris Isidore, United, Max Organizations: CNN Business, Bell, New York CNN, ACT Inc, U.S ., ACT, Nexus Capital Management, ”, CNN, Nexus, Higher, University of California, ” Nonprofit, Nexus Capital, Savvas Learning Company, Private Equity, Project, University of Chicago Booth School of Business, Center for Universal Education, Brookings Institution, P Global Market Intelligence, College Board, Veritas Capital, “, Bank of Canada, Wilson, Fed, United, United Airlines, Boeing, Alaska Airlines, Federal Aviation Administration Locations: New York, Iowa, California, Merced, Canada

☆ Goldman Sachs CEO David Solomon breaks down how the AI obsession is creating a gold rush for the bank
▼ + stars: | 2024-04-15 | by ( Reed Alexander | ) www.businessinsider.com time to read: +5 min

Artificial intelligence is on everyone's lips, and that's expected to translate into big bucks for Goldman Sachs, according to CEO David Solomon. He said the bank has been "advising clients on these topics and how to think about potential use cases in their operations." AI's impact on jobsSolomon also explained how, internally, AI could impact its own workforce. "We see enormous opportunities for productivity gains and also opportunities for efficiency," Solomon said, describing how the AI revolution could impact Goldman's human capital. Some firms like Deutsche Bank have been piloting test cases to evaluate the impact AI could have on junior bankers' workflows.

Persons: Goldman Sachs, David Solomon, Solomon, PwC, — Goldman, Goldman, JPMorgan Chase, Reed Alexander Organizations: Business, P Global, Intelligence, Deutsche Bank, Goldman, New York Times, JPMorgan, Global Locations: ralexander@businessinsider.com

☆ Oil prices head back up on Middle East jitters
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: +2 min

A view of an oil well at Arab Desert in Jebel Dukhan, Bahrain on March 4, 2024. Oil prices rose in early trade on Friday on heightened tensions in the Middle East, where Iran has promised to retaliate for a suspected Israeli air strike on its embassy in Syria, which could risk disruptions to supply from the oil producing region. Israel is keeping up its war in Gaza but is also preparing for scenarios in other areas, Prime Minister Benjamin Netanyahu said on Thursday. "The European Central Bank's decision to leave policy rates unchanged ... was expected, but accompanying statements open the door for near-term monetary easing," S&P Global Market Intelligence said in a note. However in the U.S., Federal Reserve officials signalled on Thursday no rush to cut interest rates, as sticky U.S. inflation remains a concern.

Persons: Ayatollah Ali Khamenei, Benjamin Netanyahu Organizations: Brent, U.S, West Texas, Israel, Washington, ANZ Research, Organization of, Petroleum, P Global Market Intelligence, Federal Locations: Jebel Dukhan, Bahrain, Iran, Syria, Damascus, Gaza, Israel, Tehran, Europe, U.S

☆ Share of women in C-suite roles falls for first time in two decades, study finds
▼ + stars: | 2024-04-05 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

And growth in the percentage of women in senior corporate leadership roles overall barely budged from 2022 to 2023. In 2023, women held just 11.8% of the roughly 15,000 C-suite roles assessed, down from 12.2% the year before, the study found. Gender parity goal imperiledNone of this is to say that there hasn’t been real progress in narrowing the gender gap since 2005. “Across all [senior] roles, women held less than 8% of seats as recently as 2005; versus 22.3% in 2023. If the growth rate remains below average going forward, the goal of reaching gender parity will be much farther out of reach.

Persons: “, hasn’t, ” Organizations: New, New York CNN, P Global Market Intelligence Locations: New York

☆ Latest European inflation figures support a June rate cut, economist says
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLatest European inflation figures support a June rate cut, economist saysChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the February purchasing managers' index and euro zone inflation figures.

Persons: Chris Williamson Organizations: P Global Market Intelligence

☆ S&P Global Market Intelligence discusses Baltimore bridge collapse
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaltimore bridge collapse: Minimal impact on supply chains, says S&P Global Market IntelligencePeter Tirschwell of S&P Global Market Intelligence, says nearby ports have the capacity to handle the overflow from Baltimore.

Persons: P Global Market Intelligence Peter Tirschwell Organizations: P Global Market Intelligence Locations: Baltimore

☆ Here's who could be responsible for paying for the Baltimore bridge disaster
▼ + stars: | 2024-03-27 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

Read previewThe Francis Scott Key Bridge in Baltimore collapsed on Tuesday after a large container ship ran into it, leading to six presumed deaths and millions of dollars in possible damage. President Joe Biden said on Tuesday the federal government should be responsible for paying to reconstruct the damaged Francis Scott Key Bridge. The Francis Scott Key Bridge, named for Francis Scott Key, the author of the Star Spangled Banner. Drone footage shows aftermath of the Dali container ship's collision into the Francis Scott Key Bridge in Baltimore, Maryland, on March 26, 2024. AdvertisementThe Dali is covered by the Britannia Steam Ship Insurance Association Ltd., known as Britannia P&I Club, according to S&P Global Market Intelligence.

Persons: —, Francis Scott Key, It's, Joe Biden, Biden, David MacKenzie, Dali, Ryan Petersen, Petersen, John Miklus, Britannia Organizations: Service, Business, Sky News, Star, Getty Images Baltimore, Maersk, Synergy Group, Anadolu Agency, Reuters, American Institute of Marine Underwriters, Insurance, Britannia Steam Ship Insurance Association Ltd, P Global Market Intelligence, International Group Locations: Baltimore, Dali, Singapore, Baltimore , Maryland, Britannia, London

☆ ESPN’s model is eroding. Past and present execs are split on how it can protect its dominance
▼ + stars: | 2024-03-21 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees. In 2023, ESPN's monthly carriage fee was $9.42 per subscriber, according to data from S&P Global Market Intelligence. Since 2013, tens of millions of Americans have canceled their cable TV subscriptions, raising questions about ESPN's future in an increasingly fragmented media landscape. Second, in fall 2025 ESPN will launch its flagship streaming service that will include everything ESPN has to offer, both live and on demand. The product will go well beyond ESPN+, which exists as a $10.99 streaming service that doesn't include ESPN's most expensive programming, such as all of "Monday Night Football."

Organizations: Disney, ESPN, P Global Market Intelligence, CNBC, Warner Bros . Discovery, Fox, ESPN Bet

TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The negative interest rate policy, combined with other measures to inject money into the economy and keep borrowing costs low, “have fulfilled their roles,” Bank of Japan Gov. But it had remained cautious about “normalizing” monetary policy, or ending negative borrowing rates, even after data showed inflation at about that rate in recent months. Ueda said there was “a positive cycle” of a gradual rise of wages and prices, while stressing that monetary policy will remain easy for some time. The Japanese central bank's policy is quite different from those of the U.S. Federal Reserve and the European Central Bank.

Persons: “, Kazuo Ueda, Ueda, Harumi Taguchi, Haruhiko Kuroda, ___ Yuri Kageyama Organizations: TOKYO, ” Bank of Japan Gov, Bank of, Analysts, P Global Market Intelligence, U.S . Federal Reserve, European Central Bank, Bank of Japan Locations: Japan, Bank of Japan, U.S, China

☆ 1976 was the last time car insurance rates rose this fast
▼ + stars: | 2024-03-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But here’s something that hasn’t changed much: the pace at which car insurance rates are rising. Car insurance rates are up almost 21% for the 12 months ended in February, according to new Consumer Price Index data released Tuesday. The last time car insurance rates rose that much on an annual basis was 1976, not counting January, which saw the same annual rate increases. The rise in car insurance rates alone contributed half a percentage point to the overall 3.2% inflation rate last month. Meanwhile, drivers in North Carolina saw the smallest bump in car insurance rates, up just 5.5% over that same timeframe.

Persons: Gerald Ford, Steve Jobs, Steve Wozniak, hasn’t, it’s, Tim Zawacki, Zawacki, ”, Robert Passmore, “, ” Zawacki Organizations: New, New York CNN, Apple, P Global Market Intelligence, CNN, National, LexisNexis, Casualty Insurance Association, Silver State Locations: New York, Nevada, Wyoming, Silver, North Carolina

☆ Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close
▼ + stars: | 2024-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

That was a far steeper decline than the overall venture funding market, which declined 38% in 2023, the report said. (The report was based on data from Crunchbase, which Alignment Growth is an investor in.) Investors have been flocking to AI, live entertainment, and sports. Sports M&A nearly tripled in three years to $27.9 billion in 2023, driven by deals for team franchises, the Alignment Growth report showed. High ticket prices for live entertainment could dampen attendance, especially if consumer confidence takes a hit.

Persons: Wade Holden, Anthony Jasenski, CBRE's, Jasenski, haven't, IATSE, Alex Iosilevich, Schlogel, Craig Thompson Organizations: Venture, Business, Disney, Warner Bros, Global, P Global Market Intelligence, Blackstone, Bain Capital Real, Deloitte, Teamsters, Hollywood, Investors, Sports, Atwater, Mindspring Capital Locations: Hollywood, Crunchbase, Americas, OpenAI

☆ Egypt hikes interest rates by 600 basis points, pound crumbles to record low
▼ + stars: | 2024-03-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Egypt's pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The Egyptian pound was trading at roughly 50 to the dollar following the announcement, from 30.85 previously, according to LSEG data. The country's key interest rate now stands at 27.25%, the central bank said Wednesday. Egypt, the Arab world's most populous country at roughly 110 million people, is facing a protracted shortage of foreign currency. "In preparation for the successful implementation of these measures, sufficient funding has been secured to avail foreign exchange liquidity."

Persons: James Swanston, Egypt's Organizations: International Monetary Fund, Economics, United, IMF, Monetary, Government, P Global Market Intelligence Locations: Egypt, East, Africa, London, United Arab Emirates, Cairo

☆ Reddit files to list IPO on NYSE under the ticker RDDT
▼ + stars: | 2024-02-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +6 min

Social media company Reddit filed its IPO prospectus with the Securities and Exchange Commission on Thursday after a yearslong run-up. The company plans to trade on the New York Stock Exchange under the ticker symbol "RDDT." The social networking company's core business is reliant on online advertising sales stemming from its website and mobile app. Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia. Reddit said that its non-employed moderators, known as Redditors, can participate in the company's IPO offering through its "directed share program."

Persons: Reddit, Pinterest, Alexis Ohanian, Steve Huffman, It's, DAUq, Condé Nast Organizations: Securities and Exchange Commission, New York Stock Exchange, P Global Market Intelligence, Google, eBay, . Publishing, Condé Locations: U.S, Reddit's U.S, China, Russia, Ukraine

☆ There is uneven recovery across different sectors and member states of euro zone economy: economist
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is uneven recovery across different sectors and member states of euro zone economy: economistChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the latest euro zone flash PMI data and explains how it will impact the European Central Bank's next interest rate decision.

Persons: Chris Williamson Organizations: P Global Market Intelligence, Central Bank's

☆ Well, this could be what finally kills cable TV
▼ + stars: | 2024-02-06 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +3 min

It could end up killing cable TV. That said, it really seems like this new service will include all the major sports offerings on cable TV. Cord cutting has been gradually chipping away at the cable TV ecosystem for years. AdvertisementBut don't cry too much yet for the cable TV companies. Last year, in a dispute with Disney, Charter, one of the biggest cable companies in the US, called the cable TV model broken and said it was willing to walk away entirely.

Persons: —, Price, it's Organizations: Disney, Fox, Warner Bros, ESPN, Service, ESPN2, ABC, FOX, TNT, TBS, truTV, CBS, NBC, NFL, Paramount, Netflix, CNN, Fox News, MSNBC, P Global Market Intelligence

☆ Loud budgeting is in, quiet luxury is out. Meet the TikToker who started the financial trend
▼ + stars: | 2024-02-05 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

“Loud budgeting is a new concept I am announcing for 2024, it’s the opposite of quiet luxury,” he said in the TikTok post, posted on December 29. In this screen grab taken from a viral video by Lukas Battle, the comedian talks about the 'loud budgeting,' trend, versus 'quiet luxury.' In an online world where luxury and opulence are constantly on display — and unattainable for most people — “loud budgeting” makes being on a budget cool and acceptable. It’s the inverse of “quiet luxury,” which flourished on social media last year and promoted not flaunting your wealth or being understated about it. But loud budgeting could be a reckoning for brands who have found success in social media marketing.

Persons: Lukas Battle, Lukas, It’s, ”, they’re, Vivian Tu, Rich, ” Tu, Giovanna Gonzalez, “, Gonzalez, “ I’m, Michael Hershfield, Tu, it’s Organizations: New, New York CNN, CNN, TIAA Institute, Wall, P Global Market Intelligence, “ Locations: New York, Cabo, “

☆ Factories in developing Asia may have seen the worst of manufacturing slump
▼ + stars: | 2024-02-01 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Photographer: Linh Pham/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesMost developing economies in Asia might have left the worst of the broad manufacturing slowdown behind in 2023, according to a series of private surveys released Thursday. South Korea's S&P manufacturing purchasing managers' index recorded its first expansionary reading since June 2022 at 51.2 in January, up from 49.9 in December. "The health of the South Korean manufacturing sector registered a renewed improvement at the start of 2024. Growth was reportedly reflective of increased domestic and international orders, particularly for new products," Bhatti added. These private PMI surveys are typically seen as one of several leading indicators of economic activity in the respective economies.

Persons: Linh Pham, Usamah Bhatti, Bhatti, Annabel Fiddes Organizations: Wind Corp, Vung, Renewables, International Energy Agency, Bloomberg, Getty Images Bloomberg, Getty, P Global Market Intelligence, Vietnam, ASEAN, PMI, International Monetary Fund, IMF, " Companies Locations: Tan Thanh, Ba, Vung Tau Province, Vietnam, Asia, China, Taiwan, Malaysia, Thailand

☆ Why Big Tech Is Still Minding Its Bills
▼ + stars: | 2024-01-13 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Google began laying off hundreds of employees this week across several divisions. Photo: Gene Blevins/Zuma PressEven the deepest pockets have their limits. Amazon and Google-parent Alphabet sit on a combined $184 billion in cash and short-term investments. Those two, along with big tech peers Microsoft , Apple and Facebook -parent Meta Platforms, hold the highest such balances among nonbanking companies on the S&P 500, according to data from S&P Global Market Intelligence. Amazon and Alphabet are also currently generating just under $95 billion combined in annual free cash flow.

Persons: Gene Blevins Organizations: Google, Microsoft, Apple, Facebook, P Global Market Intelligence

☆ Red Sea crisis could jeopardize inflation fight as shipping costs spike globally
▼ + stars: | 2024-01-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

In this article HLAG-DEMAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNTA ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty ImagesU.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. But the Red Sea crisis is now having a significant impact further afield with shipping costs between Asia and the U.S also spiking. Shipping rates from North Asia to the U.S. East Coast have jumped 137% to $5,100 for a 40-foot container from early October, according to S&P Global. JPMorgan told clients on Tuesday that the fight against inflation could stall in the coming months if shipping costs push the price of goods higher.

Persons: Sayed Hassan, John Kirby, Kirby, Biden, Chris Rogers, Mark Hopkins, we're, Hopkins, It's, Balika Sonthalia, Sonthalia Organizations: Getty, P Global Market Intelligence, P, U.S ., U.S . East Coast, U.S . West Coast, JPMorgan, Federal Reserve, . National Security, White, Moody's, CNBC, Kearney, The New, The New York Federal, HSBC Locations: Suez, Ismailia, Egypt, South Africa, Asia, Europe, North Asia, Israel, U.S, U.S . East, U.S . West, The New York, Panama

☆ Why the U.S. may extend its run as the world's leading economy
▼ + stars: | 2024-01-10 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +3 min

The U.S., China and India may take turns leading the global economy this century, according to an analysis from the Centre for Economics and Business Research. The CEBR forecast suggests China could potentially take the top spot as the world's largest economy by gross domestic product as early as 2037. "The ranking of which is the largest economy in the world — that doesn't take into account things like living standards. Around the world, policymakers are spending large sums of public funds to prepare for social and environmental challenges that may be ahead. Watch the video above to learn more about the race to be the world's largest economy.

Persons: Nina Skero, Mariana Mazzucato, we're, China that's, Joe Biden, Xi Jinping, Yasheng Huang, Rajiv Biswas Organizations: U.S, Centre for Economics, Business Research, University College London, Washington, MIT Sloan School of Management, P Global Market Intelligence, CNBC Locations: China, India, U.S, Japan, South Korea, Asia, Pacific

☆ The Rise of Temu’s Chinese Parent Will Reshape E-Commerce
▼ + stars: | 2023-12-05 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Temu has 52 million monthly active users in the U.S., just a year after its launch. There’s a new online-shopping champion in China: PDD , the company behind discount-retailing app Temu, is now the country’s most valuable e-commerce company. After a 78% rise this year, PDD’s market value has hit $193 billion, snatching the crown from Alibaba. Though PDD’s revenue last quarter was still less than a third of Alibaba’s, it’s growing much faster. Revenue for the three months ended in September surged 94% from a year earlier—Alibaba’s only grew 9%.

Persons: Temu, Nikos Pekiaridis Organizations: Revenue, Alibaba, P Global Market Intelligence Locations: U.S, There’s, China, Alibaba

To be sure, China is still Walmart's biggest country for importing goods. "We want the best prices," Andrea Albright, Walmart's executive vice president of sourcing said in an interview. Walmart has been accelerating growth in India since 2018, when it bought a 77% stake in Indian e-commerce firm Flipkart. Its rapidly growing workforce and technological advancement were a draw for Walmart, Albright said. The rising cost of shipping goods from China has also contributed to the switch to India, supply chain experts say.

Persons: Eduardo Munoz, Andrea Albright, we're, Albright, Doug McMillon, Narendra Modi, Modi, McMillon, Rajesh Kharabanda, Chris Rogers, Shekhar Gupta, Devgiri, Richa Naidu, Siddharth Cavale, Casey Hall, Manoj Kumar, Matthew Scuffham, Sharon Singleton Organizations: Walmart, REUTERS, Companies Walmart, Reuters, Flipkart, Walmart Global Tech India, Indian, Amazon, Freewill, P, Thomson Locations: Teterboro , New Jersey, U.S, India, China, United States, Washington, Beijing, Thailand, Vietnam, Bangalore, Pakistan, Bangladesh, Mundra Port, Gujarat

☆ TikTok owner ByteDance is laying off hundreds of workers in a retreat from gaming
▼ + stars: | 2023-11-28 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —ByteDance, the Chinese tech giant behind TikTok, is pulling back from video gaming in a shift that will result in hundreds of job cuts. “Mobile gaming revenue is in decline while user acquisition costs are rising,” he told CNN. She suggested ByteDance was simply looking to cut its losses, particularly since gaming still made up just a tiny sliver of its business. “[Even] if ByteDance exits game development and publishing, it will not dramatically impact their own business,” she added. China is the world’s biggest mobile and PC gaming market, according to Niko Partners.

Persons: Hong Kong CNN — ByteDance, Nuverse, ”, ByteDance, Niko, we’ve, ” “, “, Lisa Hanson, Niko Partners, Neil Barbour, Tencent, ” Hanson, Hanson Organizations: Hong Kong CNN, CNN, Niko Partners, Big Tech, P Global Market Intelligence, “ Mobile Locations: Hong Kong, Beijing, Pico, China

☆ Don’t read too much into those Black Friday and Cyber Monday spending totals
▼ + stars: | 2023-11-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

“It shows the psychological mind frame of consumers,” said Mickey Chadha, vice president of corporate finance at Moody’s Investors Services, referring to holiday spending data. This year, dollar sales growth for the holidays in the United States is forecast to slow to 3.3% from 6% last year. It means the spending growth it reported was “driven by net-new demand, not simply higher prices,” Adobe said. The experts CNN spoke to were all in agreement: Holiday spending data — no matter how good or bad — doesn’t represent the state of the entire US economy. A report she coauthored with Chadha predicts holiday sales will grow “a fairly modest 1% to 3%” this year.

Persons: ”, Mickey Chadha, Aditya Bhave, David Paul Morris, That’s, Tamara Charm, Charm, ” Adobe, Chedly Louis, Chadha, Michael Zdinak, he’s, Bhave, that’s Organizations: New, New York CNN, Moody’s Investors Services, Adobe Analytics, Adobe, P Global Market Intelligence, Bank of America, Bloomberg, Getty, Consumer, Consumers, McKinsey, CNN, Moody’s Investors Locations: New York, United States, That’s

Search resuls for: "P Global Market Intelligence"

25 mentions found