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☆ UK inflation dips to 6.7%, below expectations as food prices ease
▼ + stars: | 2023-09-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. U.K. inflation surprised with a dip to 6.7% in August, below expectations and sparking increased bets on a pause in interest rate hikes from the Bank of England on Thursday. The goods rate rose slightly from 6.1% to 6.3% but was more than offset by the services rate slowing significantly from 7.4% to 6.8%. Caroline Simmons, U.K. chief investment officer at UBS, told CNBC that the central bank will still most likely hike on Thursday. "We do believe that's going to be their last hike, however, because we do have these downward forces on inflation," she added.

Persons: Raoul Ruparel, Ruparel, Caroline Simmons Organizations: OECD, Bank of England, Reuters, National Statistics, Boston Consulting Groups, for Growth, of England, UBS, CNBC Locations: Sheffield, London

☆ Dick's Sporting shares slide as costs, inventory shrink slam annual profit outlook
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Dick's Sporting Goods shares (DKS.N) slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. A shopper browses merchandise at a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela Acquire Licensing RightsRetailers including Dick's Sporting Goods have been trying to find ways to cut costs as margins take a hit from soaring supply chain and labor expenses. On an adjusted basis, the company expects to earn $11.50 per share to $12.30 per share for the full year. Dick's shares were trading at $111.14 and dragged shares of rival retailers.

Persons: Mark Makela, Lululemon, Armour, Foot, Juveria, Eileen Soreng Organizations: Sporting Goods, Dick's Sporting, Collegeville , Pennsylvania U.S, REUTERS, Dick's Sporting Goods, Nike, Thomson Locations: United States, Collegeville , Pennsylvania

A customer browses Apple watches at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. REUTERS/Lucy Nicholson/file photo Acquire Licensing RightsCompanies Apple Inc FollowNEW YORK, Aug 21 (Reuters) - Apple (AAPL.O) on Monday won the dismissal of a lawsuit claiming that the blood oxygen sensor on its Apple Watch exhibits "racial bias" against people with darker skin tones. U.S. District Judge Jed Rakoff in Manhattan dismissed the proposed class action with prejudice, meaning it cannot be brought again. Doctors have long known that pulse oximeters, which help assess potential heart and respiratory problems, are less accurate in estimating blood oxygen of non-white patients. The case is Morales v Apple Inc, U.S. District Court, Southern District of New York, No.

Persons: Apple, Lucy Nicholson, Jed Rakoff, Alex Morales, Morales, Jonathan Stempel, Andy Sullivan Organizations: Apple, REUTERS, Monday, Apple Watch, Apple Inc, Court, Southern District of, Thomson Locations: Los Angeles , California, U.S, Manhattan, Manhattan's, Southern District, Southern District of New York, New York

☆ Morning Bid: Banking news unnerves ahead of US CPI
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mark Makela/File PhotoA look at the day ahead in European and global markets from Brigid RileyMarkets have a full plate on Wednesday, taking in China's disappointing inflation data while awaiting tomorrow's U.S. CPI report, and processing a surprise banking windfall tax announcement from Italy. The banking sector in Europe is still reeling after Italy unexpectedly approved a 40% windfall tax, although authorities added in a statement on Tuesday that the new tax could not breach 0.1% of a lender's total assets. European markets will be on guard for similar moves in other countries. Eyes are turning to the fast-approaching U.S. inflation report after mostly dovish comments from several Fed officials this week. Dutch supermarket chain Ahold Delhaize (AD.AS) and Germany-based E.ON (EONGn.DE), Europe's largest energy company, also announce earnings.

Persons: King of Prussia, Mark Makela, Brigid Riley, there's, Ahold, Edmund Klamann Organizations: King of Prussia , Pennsylvania U.S, REUTERS, Brigid Riley Markets, U.S, CPI, Walt Disney Co, E.ON, Reuters Graphics Reuters, Illumina, Walt Disney, Thomson Locations: King, King of Prussia , Pennsylvania, Brigid, Italy, Europe, Asia, China, Germany

☆ Adding one line of code can now prevent OpenAI from accessing a website's data to train ChatGPT
▼ + stars: | 2023-08-08 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI launched a new web crawler called GPTBot to browse the internet and collect information. However, adding one line of code to a website will block the crawler from accessing the site's data. Adding just one line of code to a website will now block OpenAI from using the site's data to train its AI models. A web crawler is a bot that browses the internet to collect information. Search engines like Google use web crawlers to collect information for their search results, while AI companies use these crawlers to collect data to train their models.

Persons: OpenAI, Michael Veale, ChatGPT —, James Patterson, Margaret Atwood — Organizations: Morning, University College London, MIT Technology, OpenAI

☆ Republicans are still content with Twitter, despite months of tumult under Elon Musk and a bizarre 'X' rebrand
▼ + stars: | 2023-08-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Republicans are still sticking with Twitter, despite the platform's challenges and the "X" rebrand. "He's got a vision that some share, and some don't," Rep. Nancy Mace of South Carolina said of Musk. But even Mace and Vance don't seem to know what to make of the "X" re-brand. "Seems fine, Twitter seemed fine, don't really care." "I didn't really like Twitter before, I don't really like Twitter now," said Rep. Dan Crenshaw of Texas, who described himself as "exhausted" with the platform.

Persons: Sen, JD Vance, Nancy Mace, Elon, Instagram's, —, Musk's, Ohio, Vance, that's, Hunter, He's, Mace, I've, Vance don't, Chip Roy, Roy, Mitt Romney, doesn't, Romney, Pierre Delecto, coy, Dan Crenshaw, Crenshaw, Tom Tiffany, Tiffany, they've Organizations: Twitter, Service, Capitol, Musk's, Caucus, Democratic, Facebook Locations: Wall, Silicon, South Carolina, Texas, Utah, Dan Crenshaw of Texas, Wisconsin

☆ Global retailers cash in on Barbie movie craze
▼ + stars: | 2023-07-21 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

REUTERS/Arriana McLymoreJuly 21 (Reuters) - Shoppers are snapping up Barbie hoop earrings, perfume, jumpsuits, and dresses as retailers seek to cash in on Friday's Barbie film release, reigniting the craze for the plastic doll and her hot pink, sequin-adorned universe. Mattel says the Barbie movie is expected to boost global sales of Barbie dolls, which declined last year from record growth during the pandemic. A Gap Barbie hoodie for women was available only in size XXS online, while a pair of Barbie Crocs, priced at $59.99 - $10 more than normal Crocs - was sold out on the Crocs website. Luggage brand Beis had a waiting list for all three sizes of suitcases in a Barbie pink, priced at a premium to its usual colour range. Walmart pitched Barbie dolls in varying skin tones and hairstyles at $45 to collectors.

Persons: browses, Arriana, Friday's, Barbie, Jo Ashdown, Ryan Gosling, Ken, Zara Barbie, hoodie, Barbie Crocs, Barbie toothbrushes, James Zahn, that's, Helen Reid, Savyata Mishra, Siddharth Cavale, Nick Zieminski Organizations: REUTERS, Mattel, WPP, Walmart, Hyatt Hotels, Hilton, Thomson Locations: Zara's Soho, New York City, U.S, Bogota, Colombia, Kuala Lumpur, Malaysia

"High level, we want this to become something like your personal AI friend," said developer Div Garg, whose company MultiOn is beta-testing an AI agent. The race towards increasingly autonomous AI agents has been supercharged by the March release of GPT-4 by developer OpenAI, a powerful upgrade of the model behind ChatGPT - the chatbot that became a sensation when released last November. GPT-4 facilitates the type of strategic and adaptable thinking required to navigate the unpredictable real world, said Vivian Cheng, an investor at venture capital firm CRV who has a focus on AI agents. OpenAI itself is very interested in AI agent technology, according to four people briefed on its plans. There are at least 100 serious projects working to commercialize agents, said Matt Schlicht, who writes a newsletter on AI.

Persons: Siri, Alexa, Tony Stark's, Kanjun Qiu, Reid Hoffman, Mustafa Suleyman, Qiu, OpenAI, Vivian Cheng, CRV, Aravind Srinivas, Jarvis, Yoshua Bengio, Satya Nadella, Apple's Siri, it's, Google, Edward Grefenstette, Jason Franklin, WVV Capital, Hesam Motlagh, Matt Schlicht, Anna Tong, Jeffrey Dastin, Kenneth Li Organizations: Microsoft, Google, U.S . Federal Trade Commission, Reuters, FTC, OpenAI's, Financial Times, Amazon, Alexa, Investors, WVV, Google Ventures, Entrepreneurs, Thomson Locations: Silicon, Jarvis, GPT, Cognosys, San Francisco, Palo Alto

☆ UK inflation exceeds expectations in May, piling pressure on the government and Bank of England
▼ + stars: | 2023-06-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. Inflation dipped below 10% in April but continues to exceed consensus forecasts and remains significantly higher than the Bank of England 's 2% target. The Consumer Prices Index including owner occupiers' housing costs (CPIH), the ONS' preferred metric, rose by 7.9% in the 12 months to May 2023, up from 7.8% in April. LONDON — U.K. inflation came in hotter than expected in May, as consumer prices rose by an annual 8.7%, unchanged from the previous month. However, he said the Bank will now "feel like it has no choice, especially with core inflation now rising again."

Persons: Rishi Sunak, Jeremy Hunt, Marcus Brookes, Brookes, Thiru Organizations: OECD, Bank of England, ONS, Office, National Statistics, Reuters, LONDON, Organization, Economic Cooperation, Development, CPI, Quilter Investors, Bank Locations: Sheffield

☆ UK predicted to have the highest inflation rate out of all advanced economies this year
▼ + stars: | 2023-06-07 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The OECD recently predicted that the UK will experience the highest inflation among all advanced economies this year. The U.K. headline inflation is "projected to slow on the back of declining energy prices and to come down close to target by the end of 2024," the OECD noted. "Core inflation is set to be more persistent due to strong services inflation, only receding to 3.2% in 2024." The U.K. is set to report a headline inflation of 6.9% this year, above the OECD average of 6.6% for 2023. Sanctions-struck Russia is forecast to have a headline inflation of just under 5.4% in 2023.

Persons: Andrew Bailey, Governor Bailey, BoE, Paul Dales Organizations: OECD, LONDON, Organization for Economic Cooperation, Bank of England, Capital Economics Locations: Sheffield, Argentina, Turkey, Russia, Paris, Paul

☆ Five takeaways about the consumer from Walmart, other retailers after a big week of earnings
▼ + stars: | 2023-05-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

So far, at least five retailers – Target, Walmart, Tapestry , Bath and Body Works and Foot Locker – have spoken about sales trends across the country getting worse. The retailer's comparable sales in the U.S. declined 4.6% in the quarter versus the year-ago period. Target, Home Depot and Walmart all saw a noticeable pattern: Fewer pricey and fun items in shopping carts. At Home Depot, customers bought fewer big-ticket items like appliances and grills in the fiscal first-quarter. Customers at Walmart have become more selective when shopping for electronics, TVs, home items and apparel, Rainey told CNBC.

☆ Retail sales rose 0.4% in April, less than expected as consumers struggle with inflation
▼ + stars: | 2023-05-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Consumers barely kept up with inflation in April, as retail sales increased but fell short of expectations, the Commerce Department reported Tuesday. The advanced sales report showed an increase of 0.4%, below the Dow Jones estimate for 0.8%. Excluding auto-related figures, sales increased 0.4%, which was in line with expectations. As the numbers are not adjusted for inflation, the headline increase equaled the 0.4% monthly rise in the consumer price index. Miscellaneous store retailers led gainers with a 2.4% increase, while online sales rose 1.2% and health and personal care retailers saw a 0.9% rise.

☆ Jim Cramer: An economic wave is about to hit that will be fantastic for investors
▼ + stars: | 2023-05-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

Ultimately, I have gotten to know my way around the CPI and it's a sloppy way to figure out pricing. Don't be frightened of the wave of deflation or misinterpret it as anything but fantastic for investors. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ China's deflation worries deepen as consumer prices rise only 0.1% in April
▼ + stars: | 2023-05-11 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The producer price index, which measures factory-gate prices, declined by 3.6%, marking the biggest contraction in three years. The weak property sector recovery likely has exerted “persistent” downward pressure on the factory-gate prices, they added. A slump in the property sector affects demand for key raw materials such as steel and cement, which are key parts of the producer price index. Producer deflation will likely deteriorate, with the PPI expected to drop further by 3.9% on falling global commodity prices. Deflation is bad for the economy because, in such an environment, consumers and companies may put off spending in anticipation of prices falling further, which would only exacerbate economic problems.

☆ Economists still worry recession could be on the way. But here's how a soft landing may still be possible
▼ + stars: | 2023-02-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

"We are still on the path to lower inflation rates," House said. Economists said they still expect a recession following the new January inflation data. But the Federal Reserve lacks tools to prompt that area to cool off, he said. The new data shows slowing disinflation, he said, while the Federal Reserve will probably have to hold rates higher for longer. A 'Goldilocks scenario' could bring a soft landingThere is still hope, however, that the central bank may execute a so-called "soft landing," according to House.

☆ It's fine to use ChatGPT to write your cover letter, a recruiter says. But it could screw you over on interview prep.
▼ + stars: | 2023-02-07 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

ChatGPT has grown in popularity among job seekers, writing cover letters and resumes in seconds. One recruiter says it's just a more accessible version of something job seekers have always done. People have shared stories on social media about using it to write cover letters, a time-consuming thorn in job seekers' side. As a recruiter who works with people in highly specialized roles, Laughlin also cautioned against using ChatGPT to bypass technical screenings for jobs, like with coding. But for now, he sees the bot as an impressive way for job seekers to get their foot in the door at companies.

☆ Fanatics, Nike take sports merchandise model global in deal with Yomiuri Giants, Japan's most popular baseball team
▼ + stars: | 2022-11-22 | by ( Riley De León | ) www.cnbc.com time to read: +1 min

A woman browses a merchandise shop in Tokyo Dome ahead of the Japan Central League baseball match between Yomiuri Giants and Hiroshima Carp on October 14, 2020 in Tokyo, Japan. Sports commerce platform Fanatics is expanding a recently signed long-term partnership with Nike to include manufacturing and distribution of merchandise for the Yomiuri Giants, Japan's most successful and popular baseball team. Nike will become the official uniform supplier of the Yomiuri Giants. Fanatics is also creating autograph and collectible products for fans of the Yomiuri Giants. The Yomiuri Giants are the first sports team outside the U.S. to adopt this Nike-Fanatics model for on-field and sports merchandise.

☆ UK consumer morale edges higher, but still very low: GfK
▼ + stars: | 2022-11-18 | by ( Andy Bruce | ) www.reuters.com time to read: +1 min

[1/3] A person browses items for sale at the Petticoat Lane Market, with the City of London financial district seen in the distance, in London, Britain, October 3, 2022. REUTERS/Henry NichollsLONDON, Nov 18 (Reuters) - British consumer confidence ticked higher this month but remained close to record-low levels, with soaring inflation and the spectre of recession making a sustained improvement unlikely, market research firm GfK said on Friday. All five of GfK's gauges of household economic and financial confidence improved in November, but it said the big picture of a cost-of-living crisis and weak economy was unchanged. British inflation was 11.1% in October, a 41-year high. GfK conducted its poll of 2,000 people from Nov. 1 to Nov. 11.

☆ A day in the life of a 20-year-old Gen Z venture capitalist in London's bustling startup scene
▼ + stars: | 2022-11-16 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

But he said older VCs he's interacted with mostly tend to disagree and stick to emails when interacting with founders. Nathwani strayed into venture capital after finishing his A-Levels, as it looked like a good way to marry his interests in social impact and investing. He spoke with a few investors and a founder as part of his job as a summer associate at Social Impact Capital. He spent most of the morning working on an impact report for Social Impact Capital. 2:30 p.m.Nathwani used some time after lunch to do more work for Social Impact Capital and wade through his 30,000 unread emails.

☆ New cars are still selling for over MSRP. Here's how to avoid sticker shock
▼ + stars: | 2022-10-15 | by ( Ian Thomas | ) www.cnbc.com time to read: +6 min

A couple browses a car's sticker price. For example, Mercedes-Benz purchasers paid between 2% to 4% more than the sticker price. On top of that, the average price of used cars has been steadily dropping, even if that was coming down from a very high point. In August, the average used car sold for $28,061, a 4% year-over-year decline but still up nearly 40% from December 2019 before the Covid-19 pandemic. The recent decline is a function of used car sales slowing, down 9% in August from a year earlier, making it even more likely you might get a good deal on a used car lot.

☆ Shorter showers, slower driving and an Eiffel Tower blackout: How Europe plans to cut gas usage this winter
▼ + stars: | 2022-09-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

"We're already there … savings this month have already surpassed the 15% target," said senior energy strategist from Goldman Sachs, Samantha Dart. Kenzo Tribouillard | Afp | Getty ImagesShe added that northwestern Europe's estimated August gas consumption was 13% below average. "We believe this is more than enough savings to go through winter without blackouts or a heating crisis," Dart said, assuming that the average winter weather scenario holds. "Achieving the 15% reduction target vs business as usual will be difficult, but not impossible," Gloystein told CNBC. A cold winter could make it difficult to achieve the demand reduction needed in Europe.

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