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☆ UK tech bosses urge focus on AI skills and growth in high-stakes election — no matter who wins
▼ + stars: | 2024-06-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Pa Images | Getty ImagesLONDON — British technology executives and entrepreneurs want the next government to focus on promoting skills around the development and use of artificial intelligence and growth-oriented fiscal measures. Upskilling in an AI ageOne thing U.K. tech executives are pushing for is fostering innovation in artificial intelligence and cultivating citizens' grasp on AI-centric skills — across multiple generations. Last month, dozens of business executives, entrepreneurs, and investors signed an open letter stating their support for Labour in the upcoming election. Leon Neal | Getty Images News | Getty ImagesSignatories included several influential names in the world of U.K. tech: Wikipedia founder Jimmy Wales, Founders Forum co-founder Jonathan Goodwin, and Atom Bank CEO Mark Mullen. Tech bosses CNBC spoke with found themselves unable to point to specific policies and plans from either of the main political parties.

Persons: Rishi Sunak, Sir Keir Starmer, Keir Starmer, Zahra, Salesforce, Einstein, Astro, Matthew Houlihan, Rachel Reeves, Angela Rayner, Leon Neal, Jimmy Wales, Jonathan Goodwin, Mark Mullen, Sunak, Liz Truss, Jeremy Hunt, Danny Lawson, Rishi Khosla, Khosla Organizations: Conservatives, Labour Party, LONDON, it's, Labour, CNBC, Innovation, Cisco, coy, Centre, Getty, Founders Forum, Atom Bank, BAE Systems, Tech Locations: Downing, Salesforce's, Europe, Purfleet, United Kingdom, Ukraine, British, Barrow, Furness, England

☆ No, seriously. Where are the TikTok buyers?
▼ + stars: | 2024-05-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Former Google CEO Eric Schmidt has decided against buying TikTok. That leaves a really tiny list of people who say they want to buy TikTok. AdvertisementWho's going to buy TikTok? [Crickets]Yes, if you Google "potential TikTok buyers" you'll find a bunch of stories — Business Insider has written one, too — speculating about names. They list Mnuchin as well as Shark Tank host Kevin O'Leary, who also likes to go on TV and talk about buying TikTok.

Persons: Eric Schmidt, —, Steve Mnuchin, ByteDance, Kevin O'Leary, Bobby Kotick, OpenAI's Sam Altman, we've, Trump Organizations: Google, Service, Treasury, TV, Street Journal, Activision, Oracle, Walmart, Microsoft, Big Tech, McKinsey, TikTok

☆ Joseph Stiglitz on why America's appetite for Trump endures
▼ + stars: | 2024-05-01 | by ( William Edwards | ) www.businessinsider.com time to read: +12 min

If Trump is elected again, Stiglitz said, he could well pull support for Ukraine, sending grain prices soaring. For Stiglitz, the 2001 winner of the Nobel Prize in economics, America's appetite for Trump can be traced back a little more than four decades ago to the election of Ronald Reagan. "We've had 40 years of a neoliberal experiment: Strip away the regulations and lower the taxes — taxes are much lower than they used to be. But Komlos and Stiglitz don't place blame solely on Reagan for the growing economic inequality. Every European country that's had a wealth tax has walked away from it, by and large."

Persons: Donald Trump, Joseph Stiglitz, Trump, Stiglitz, Joe Biden, Ronald Reagan, —, that's, Reagan, We've, Dina Litovsky, Friedrich Hayek, Milton Friedman, That's, Stiglitz doesn't, John Komlos, Komlos, Joe, Bill Clinton, Clinton, Barack Obama, insurrectionists, Desmond Lachman, Carter, Douglas Holtz, Eakin, George W, John McCain's, Holtz, America Stiglitz, Hayek, Friedman, Claudia Sahm, you've, what's Organizations: Columbia Business School, Business, Capitol, Biden, Trump, :, Good Society, America's, Federal Reserve, Budget, Bank, University of Munich, Duke University, University of North, Democratic, North American Free Trade, World Trade Organization, American Enterprise Institute, Bush's, Economic Advisers Locations: Manhattan, Ukraine, Russia, China, Beijing, Taiwan, University of North Carolina, Spain, America

Kline was drafted in 2000 by the St. Louis Rams (now the Los Angeles Rams). He was an offensive lineman until 2002, when he left the NFL after sustaining several concussions. The boutique Los Angeles firm focuses almost exclusively on sports dealmaking — though it also works on capital raises and makes its own investments. The firm's website says it has also advised on deals for franchises like the Golden State Warriors, the Miami Heat, the Los Angeles Dodgers, Bologna FC, and the San Francisco Giants. Kline works alongside Sean Clemens and Edwin Draughan, who focus on sports mergers and acquisitions.

Persons: Andrew Kline, Park Lane Andrew Kline, Lane Kline, Kline, Sean Clemens, Edwin Draughan Organizations: St, Louis Rams, Los Angeles Rams, NFL, Athletes ' Agency, Cincinnati Bengals, MLB's Cincinnati Reds, Sports Business, Golden State Warriors, Miami Heat, Los Angeles Dodgers, Bologna FC, San Francisco Giants, NCAA Locations: San Diego, Los Angeles, Angel

☆ From McDonald's to Chipotle, here are the restaurants that have decided to raise menu prices in California
▼ + stars: | 2024-04-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Some restaurant chains and franchisees have increased prices in California to cover a new pay law there. Restaurants from Starbucks to Chipotle have marked up menu prices since the law took effect on April 1. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But restaurant owners, eager to protect profits, have raised the menu prices that consumers pay to help offset the cost. Often, fast-food joints are operated by franchisees — business owners who run a small group of stores and pay a company like McDonald's for the right to do so.

Persons: — Organizations: Starbucks, Service Locations: California

☆ Forget Recession, New York City Is Entering a Wild New Gilded Age
▼ + stars: | 2024-04-04 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

In a country roiled by recession worries, those at the top of New York City — for better or worse — couldn't give a single gilded shit. For New York City, a brush with death called for a time of decadence. "New York City's restaurants and bars are experiencing an uneven pandemic recovery nearly four years after COVID-19 struck our city," Andrew Rigie, the executive director of the New York City Hospitality Alliance, said. AdvertisementIf a pandemic can't defeat New York City, a little inflation certainly isn't going to do it. And what that looks like is the affluent in New York City eating caviar, and poorer Americans eating cereal.

Persons: Steve Jobs, it's, Jennifer Saesue, Saesue, Fish Cheeks, Z, bistros, James Murphy, us Carbone, Casas — Cruz, Cipriani, Jean, Georges Vongerichten, Bongo, Andrew Rigie, Corey Mintz, we're, WK Kellogg, Gary Pilnick, Gary Pilnick's Organizations: Grand Prospect Hall, New, New York City, Apple, Mastercard, Chefs, Casas, Soho House, Bangkok Supper, Village, IBA, Hospitality Alliance, Nationwide, National Restaurant Association, Nasdaq, The University of Michigan Consumer, UBS, New York Locations: New York City, New York, Rome, Xinjiang, New, Manhattan, Coqodaq, Las Vegas, York, Bangkok, Hell, TouchBistro, Brooklyn, The Bronx

☆ Gen Z Is Primed to Succeed at Starting Their Own Small Business
▼ + stars: | 2024-03-25 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

He was able to scale the business to more than $600,000 in revenue by 2018, when he graduated from high school. Before the internet, starting a business was a serious hassle. The problem wasn't that people weren't interested in starting a business: A 2016 EY study found that 62% of 18- to 34-year-olds had toyed with venturing into business ownership. That has made starting a business all the more appealing — and affordable — for prospective entrepreneurs. And with the plethora of digital tools we have today, starting a business is more accessible than ever.

Persons: Luke Lintz, Lintz, Bernhard Schroeder, Schroeder, Gen Zers, —, Martin Warner, Warner, GoDaddy, HighKey, Nicki Minaj, Kevin Hart, Khloé Kardashian, Tom Peters, Peters, " Schroeder, ZenBusiness, Gen, Zers, he'd Organizations: Apple, Shipping, Lavin Entrepreneurship, San Diego State University, Entrepreneurship, Dynamics Statistics, Business, Fast Company, Small Business Administration Locations: North America, China

☆ A new company is shipping Arctic ice from Greenland to chill posh drinks in Dubai
▼ + stars: | 2024-03-01 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

The startup company, Arctic Ice, shipped its first container of around 22 tons of Greenland ice to Dubai this year for sale to high-end bars and restaurants. Founded in 2022 by two Greenlanders, Arctic Ice has an interesting — and controversial — business model. Arctic Ice claims it’s offering a novel way to harness a natural resource, carving out new economic opportunities and raising awareness of the Arctic. Various attempts have been made over the past few decades to bring back natural ice commercially, but with little success. But perhaps inevitably for a business model that involves shipping a diminishing natural resource halfway across the world, Arctic Ice has attracted controversy.

Persons: ”, Malik V, Rasmussen, ” Rasmussen, “, Jennifer Francis, Francis, It’s, Jason Box Organizations: CNN, glitzy, Climate Research, Geological Survey Locations: glitzy Dubai, Dubai, Nuuk, Greenland, Europe, people’s freezers, Norway, Denmark

☆ Elon Musk's problems keep piling up as Tesla's value slides $188 billion this year
▼ + stars: | 2024-02-24 | by ( George Glover | ) www.businessinsider.com time to read: +6 min

The world's richest person has faced problems at Tesla, SpaceX and X, ranging from a tanking Tesla valuation to an X advertiser exodus. Tesla's stock slide has erased about $188 billion from its valuation this year, according to Business Insider's calculations. The stock closed at just under $192, leaving it worth just over $600 billion at the close of trading Friday. Before you start feeling too sorry for Musk, though, he's still worth $208 billion. Justin Sullivan/Getty ImagesDelaware pay rulingTo add insult to injury, a Delaware judge also ruled against Musk's $55 billion Tesla pay package last month.

Persons: —, Elon Musk, Tesla, Seth Goldstein, Morningstar, Roth, Craig Irwin, Warren Buffett's Berkshire Hathaway, Eli Lilly, he's, He's, Elon, Justin Sullivan, Musk, rkbH7mKNw2, Fidelity, Axios, Starlink, Russia's Organizations: Service, Elon, SpaceX, Business, Big Tech, Microsoft, Apple, Nvidia, Meta, Tesla, EV, Bloomberg, Wall, Getty Images Delaware, Musk's, Lone Star, Twitter, Insider Intelligence, X Locations: Delaware, Tesla, Texas, Ukrainian, Chernihiv, Ukraine, Kyiv, Houston

☆ Your next Tesla could be made by China
▼ + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.

Persons: Elon Musk, —, Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States

☆ How to manage your boss
▼ + stars: | 2024-02-09 | by ( Henry Blodget | ) www.businessinsider.com time to read: +8 min

So you have to manage your boss. And, to do that — and to be sure that your boss is actually happy and not just "being nice" — you will likely have to manage your boss. (This is not necessarily because they don't want to be — but because being a great boss is hard.) All of this means: You don't want to leave managing your job and career to your boss, because your boss has other priorities and might not be great at it. Despite your efforts to understand and deliver what your boss wants, your boss may be so flaky that they just can't set and stick to realistic goals.

Persons: —, underpromising, isn't, Guy, Julie Hansen —, Julie, Henry !, I'm Organizations: Service, Business

☆ Why Elon Musk's battle with Delaware is about more than a $55 billion pay package
▼ + stars: | 2024-01-31 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Musk's Tesla pay was structured without a salary to involve 12 stock option awards that would only be given once performance goals for each of them were met. Though Musk can appeal the decision, there are signs that this battle is about more than just the massive pay package that has propelled him to a $205 billion fortune. The carmaker is currently worth $600 billion, up from roughly $50 billion in 2018, when Musk received his pay plan. So it's reasonable to take Musk at face value when he says his Tesla pay, as McCormick put it, is a "means of bankrolling that mission." Closer to home, Musk's legal battle could trigger a rethink of where Corporate America goes to do business.

Persons: —, Elon, Thomas Jefferson, Tesla, Richard Tornetta —, Musk, Judge Kathaleen McCormick, Musk's Tesla, Chandan Khanna, …, Judge McCormick, McCormick, DealBook, that's Organizations: Service, The, The Diamond State, Business, SpaceX, Toyota, Delaware Inc, Corporate America Locations: Delaware, The Diamond, Tesla, Mars, America's, America, Nevada, Texas

DAVOS, Switzerland (AP) — Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world. If there’s any takeaway from the World Economic Forum's annual meeting — boldly touting that theme — it’s that we still have a long way to go. The idea is getting people together, and big announcements are often just a byproduct — not the aim. “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions," said Rich Lesser, chairman of Boston Consulting Group. But thousands of conversations between the social, private and public sectors help create "a starting point for rebuilding trust,” he said.

Persons: —, Rich Lesser, ”, bigwigs, Bill Gates, Agnès Callamard, craziness, Long, Volodymyr Zelenskyy, ” Zelenskyy, ” Pham Minh Chinh, vociferously, Benjamin Netanyahu, Antony Blinken, wasn't, Antonio Guterres, Masha Macpherson, David Keyton, Courtney Bonnell, Kelvin Chan Organizations: —, Boston Consulting, Nature Energy, “ Cooperation, Security, Amnesty, European Union, U.S, Israeli, ” Locations: DAVOS, Switzerland, Swiss, Davos, suss, Ukraine, U.S, India, South Africa, UKRAINE, Kyiv, Europe, United States, Britain, Israel, Gaza, Palestinian, Saudi Arabia, London

Lower courts used the decision to uphold a 2020 National Marine Fisheries Service rule that herring fishermen pay for monitors who track their fish intake. A group of commercial fishermen appealed the decision to the Supreme Court. They lost in the lower courts, which relied on the Chevron decision to sustain the regulation. The Supreme Court itself hasn't invoked the Chevron decision since Trump's justices began arriving on the court in 2017, the first year of the Republican's administration. ___Follow the AP's coverage of the U.S. Supreme Court at https://apnews.com/hub/us-supreme-court.

Persons: Donald Trump, ”, Mark Chenoweth, Koch, it’s “, David Doniger, Doniger, — Clarence Thomas, Samuel Alito, Neil Gorsuch, Brett Kavanaugh —, Ryan Mulvey, “, Leif Axelsson, Axelsson, he’d, John Paul Stevens, ” Stevens, Sandra Day O'Connor, hasn't, Paul Clement, ” Clement Organizations: WASHINGTON, — Business, Marine Fisheries Service, Supreme, Chevron, New Civil Liberties Alliance, Natural Resources Defense, American Cancer Society, ”, Trump, Action Institute, Fishermen, U.S Locations: Rhode Island, Cape May , New Jersey, Coast, Cape

“We stand by Business Insider and its newsroom,” said a spokesman for Axel Springer, the German media company that owns the publication. With its stories, Business Insider raised both the idea of hypocrisy and the possibility that academic dishonesty is widespread, even among the nation's most prominent scholars. The business leader reached out in protest to board members at both Business Insider and Axel Springer. “Business Insider supports and empowers our journalists to share newsworthy, factual stories with our readers, and we do so with editorial independence,” Peng wrote. Business Insider would not say who conducted the review of its work.

Persons: Claudine Gay, ”, Axel Springer, Neri Oxman, Bill Ackman, Gay, Axel Springer's, ” Ackman, Ackman, “, Oxman, Barbara Peng, ” Peng, ” Harvard's, Nicholas Carlson, Carlson Organizations: MIT, Business, Harvard, Pershing, Oxman, The New York Times, Times, The Washington Post Locations: Israel

Kohl’s posted on Tuesday a bigger-than-expected decline in quarterly sales, as customers spent less at its department stores. Lowe's, the nation's second-largest home improvement chain behind Home Depot, also reported drops in both sales and profits. The consumer electronics retailer posted revenue of $9.76 billion in the period, falling short of Street forecasts. In the year-ago period, sales were $10.59 billion. Best Buy expects full-year earnings in the range of $6 to $6.30 per share, with revenue in the range of $43.1 billion to $43.7 billion.

Persons: Kohl’s, they're, Corie Barry, Barry, Anne Organizations: Federal, “, Zacks Investment Locations: Richfield , Minnesota

☆ Sony reports 29% drop in operating profit as weakness in chip business hits home
▼ + stars: | 2023-11-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sony on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its imaging sensor — or chip — business. Here's how Sony did in the September quarter versus LSEG consensus estimates:Revenue: 2.8 trillion yen ($18.5 billion) versus 2.87 trillion yen expected. Operating profit: 263 billion Japanese yen versus 304.4 billion yen expected. Sony attributed the significant drop in profit to weakness in its imaging sensor business, as well as declines in profit at its financial services and entertainment, technology and services businesses. Despite the slide in profit, the company increased its sales forecast for the full year, saying it now expects total sales of 12.4 trillion yen (up from earlier forecasts of 12.2 trillion yen) as it benefits from positive foreign exchange rates.

Organizations: Sony, Apple, Writers Guild of America

☆ Alphabet to report third-quarter earnings after the bell
▼ + stars: | 2023-10-24 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

Alphabet is set to report third-quarter earnings after the bell Tuesday. During the third quarter, Google made focused layoffs in various business organizations within the company. In the latest quarter, Google reshuffled its smart assistant that included layoffs as part of an effort to "supercharge" products with AI. Earlier this month, product managers and designers for Google's ChatGPT competitor Bard were reportedly skeptical about the tool's helpfulness. Along with the changes in its business, Google has seen a dramatic shake-up in its upper ranks.

Persons: StreetAccount, it's, Sergey Brin, Google's, hyping, Bard, Ruth Porat, CNBC she'll, Eddy, Apple's, iPhones Organizations: LSEG, Google, TikTok, CNBC, Department of Justice Locations: Zurich, Switzerland

TOKYO (AP) — Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey released Monday. The Bank of Japan's “tankan” quarterly survey measured business sentiment among major manufacturers at plus 9, up from plus 5 in June. That’s tough for Japan, which imports almost all its oil, at a time when the Japanese yen is weakening. For the tankan’s projection of business sentiment three months from now, large manufacturers are expecting an improvement of 1 point at plus 10. What the Bank of Japan will do to interest rates in coming months is being closely watched.

Persons: ”, Toshihiro Nagahama, ___ Yuri Kageyama Organizations: TOKYO, Japan's, Dai, ichi, Toyota, Nintendo, Bank of Locations: Ukraine, Japan, Bank of Japan

☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

☆ How A.I. can help create jobs for humans, not just automate them
▼ + stars: | 2023-08-10 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

In this article UPWK Follow your favorite stocks CREATE FREE ACCOUNTMemorystockphoto | Istock | Getty ImagesFor organizations creating a long-term strategy around generative artificial intelligence, the technology has the capacity to create jobs for humans, not just automate them. Then there are even more nuanced roles, such as AI ethicists (whose job is, essentially, to maintain a responsible AI framework). Not only are there more types of jobs as a result of the generative AI boom, but companies are actually hiring more because of the generative AI surge. That's why experts say upskilling existing employees is essential to any organization's AI integration. AI is fast — business consulting firm Accenture's report on so-called "AI maturity" predicts that AI transformation will occur 13% faster than overall digital transformation through 2024.

Persons: Margaret Lilani, upskilling, Ger Doyle, Doyle, " Doyle, Lilani, onboarding, it's Organizations: Istock, AI, Hire, SAS, Talent Survey

☆ Spirit was named the second-worst airline in the US. Here's how I managed surprise fees on a flight from New York to Miami as a veteran low-cost traveler.
▼ + stars: | 2023-07-30 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

Spirit Airlines is commonly named one of the worst airlines, coming in second-worst in a new ranking. Here's how I managed add-on fees from New York to Miami to make my Spirit flight more enjoyable. Low-cost giant Spirit Airlines is infamous for its bare-bones yellow planes and costly add-on fees. In November, I flew on Spirit from New York to Miami to once again experience the full no-frills experience. Here's how it went, and how I managed the add-on fees.

Organizations: Airlines, Spirit Airlines Locations: New York, Miami, Florida

☆ Don’t Take It From a ‘Thinkboi’
▼ + stars: | 2023-06-30 | by ( Erin Griffith | ) www.nytimes.com time to read: 1 min

You can do a lot of work for a long time and hope you are someday rewarded with success. Or you can skip the grueling, boring part and tweet as if you already are a success. The first group — business influencers who have made it — are called thought leaders. The second group — those who haven’t but post as if they have? Once you understand the difference, it’s difficult to unsee.

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

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