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The Singapore-based company has not determined the size of the deal or the valuation at IPO. The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods. Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain. Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang. Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.

Persons: Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy Organizations: REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson Locations: Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India

☆ The days of rising interest rates could soon be over
▼ + stars: | 2023-10-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: US Treasury rates are white hot — 10-year Treasury yields are near their highest levels since 2007. It also means more expensive mortgage rates. Mortgage rates tend to track the yield on 10-year US Treasuries. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. US mortgage rates are at 23 year-highs, and home affordability is at its lowest level since 1984.

Persons: haven’t, Philip Jefferson, ” That’s, Lorie Logan, Raphael Bostic, ”, “, ” Bostic, Mary Daly, Bonds, What’s, Birkenstock, Elisabeth Buchwald, Megan Penick, Robinson, Rachel Ramirez, It’s, they’re Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Fed, Financial, CME, Treasury, New York Federal Reserve, Federal Reserve Bank of New, Consumer, Dallas, Federal Reserve Bank of Atlanta, American Bankers Association, San Francisco Fed, Index, PPI, CPI, New York Stock Exchange, Renaissance, Nature Communications Locations: New York, Germany, Czech Republic, Slovenia

☆ Kim Kardashian's Skims may be the hero the IPO market needs
▼ + stars: | 2023-07-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

This latest round was led by Wellington Management, a firm known for taking companies public. Jens Grede, Skim’s CEO, recently told Dealbook that stock investors have shown an increased interest in consumer-oriented businesses like Skims and that an IPO is something the company wants. “At some point in the future, Skims deserves to be a public company,” he said. If a Skims IPO were to succeed, “companies, CFOs and investors in general will see this as a very positive sign,” said Sokhi. Netflix posted nearly $8.19 billion in revenue for the quarter, compared to the $8.3 billion Wall Street had projected.

Persons: Kim Kardashian, Goldman Sachs, ”, David Solomon, Ro Sokhi, Cava, “ There’s, Skims, Andy Muir, Jens Grede, Megan Penick, Robinson, Kardashian, we’re, “, ” Adam Hodge, Volodymyr Zelensky, Russia “, Tesla, Chris Isidore, Refinitiv, Clare Duffy, Samantha Delouya Organizations: CNN Business, Bell, New York CNN, Wellington Management, Nike, US National Security Council, Russian Defense Ministry, Wednesday, Netflix Locations: New York, Cava, Skims, Russia, Ukraine, Europe, Odesa’s

☆ The Masters were caddied by only Black men for nearly 50 years
▼ + stars: | 2023-04-05 | by ( Jack Bantock | ) edition.cnn.com time to read: +14 min

Located just three miles from The Masters venue, the historically Black district lay adjacent to Augusta Country Club. Eventually, many would hop across Rae’s Creek to begin work at Augusta National. A “good bag” at Augusta National would pay up to $5, Maben said, offering $20 for a particularly lucrative day’s labor. The 1983 Masters saw the first White caddies walk the greens at the major, with just 19 Black caddies on the bag, Clayton said. This year, the Lucy Craft Laney Museum will put the legacy of Augusta’s Black caddies – quite literally – center stage.

Persons: Jack Nicklaus, Arnold Palmer, Willie Peterson caddied Nicklaus ’, Nathaniel “, ” Avery, Peterson –, –, Augusta, Nicklaus, Peterson, Augusta caddies, Leon Maben, Lucy, Lucy Craft Laney, Ward Clayton, “, ” Palmer, ” Clayton, …, Maben, Jerry ” Beard, caddie, Fuzzy Zoeller, John P, caddying, Willie “ Pappy ” Stokes, Stokes, Henry Picard, Ben Hogan, Hogan, Beard, Zoeller, Augusta “, Clayton, ” Maben, ” Beard, Heinz Kluetmeier, Tommy “, ” Bennett, Woods, scalding, John H, Stovepipe ” Gordon, Frank “, ” Stokes, Matthew “ Shorty Mac ” Palmer, Avery’s, Gordon, Gene Sarazen, Sarazen, Willie “, Perteet, Dwight D, Eisenhower, ”, ’, ‘, We’re, caddies, Jim Crow, Ron Townsend, Lee Elder, Elder, Andy Lyons, Townsend, ” Carl Jackson, Ben Crenshaw, Jackson, Crenshaw, “ Gentle Ben ”, Watson, Jamie Squire, Harvey Penick, ” Jackson, you’re, Andrew Redington, Avery, Palmer, Augusta caddies – Stokes, It’s Organizations: CNN, Augusta National, Bettmann, Getty, Augusta Country, Lucy Craft, Lucy Craft Laney Museum of, . Augusta National, ”, Augusta, ESPN, National, PGA, Augusta Country Club Locations: Georgia, Cedar Grove, Sand, Black, Augusta, caddies, Clayton, America, ”, Perteet

☆ Neiman Marcus to lay off about 5% of workforce
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

Feb 14 (Reuters) - Neiman Marcus Group said on Tuesday it would lay off about 5% of its workforce, or around 500 employees, as the luxury department store chain looks to cut costs in a tough economy. The company also said its Chief Product & Technology Officer Bob Kupbens will depart, while said Ryan Ross, president, Neiman Marcus, will lead customer insights for the group. Darcy Penick, the president of luxury department store Bergdorf Goodman, will assume group-level leadership of the NMG Product & Technology organization. Neiman Marcus Group has more than 10,000 employees as per its website. Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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