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☆ Airlines got too confident, and now they are paying the price despite record-breaking travel
▼ + stars: | 2024-06-29 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

Expensive fuel, maintenance, and labor don't help, nor do unpredictable setbacks outside the airline's control, like pandemic travel bans and production slowdowns at planemaker Boeing. But across the industry, many airlines are struggling to turn profits thanks to issues like overcapacity, unrelenting competition, and unexpectedly high costs, according to experts. Boeing delivery delays have eaten into profitsHarteveldt said Boeing's ongoing delivery delays have cost airlines like American, Southwest, and United millions of dollars. Airlines are plagued by high costs in an extremely competitive industryNearly everything is more expensive than it was before the pandemic, and airlines are no exception. For low-cost carriers like Frontier and Spirit, these high costs make it challenging to make money, Kraemer said.

Persons: —, Henry Harteveldt, Scott Olson, Robert Isom, Bob Jordan, Harry Kraemer, Kraemer, You've, you've, Harteveldt, Joe Raedle, they've, Stephen Brashear, Eric Glenn, Shutterstock Harteveldt Organizations: Service, planemaker Boeing, Business, International Air Transport Association, —, Airlines, Getty, Reuters, Southwest, Elliott Investment Management, Baxter International, Corporations, Google, Spirit, Frontier, Boeing, JetBlue Airways, Airbus, Bureau of Labor Statistics Locations: Delta, United

☆ Activist Jana has a stake in Rapid7. There are two paths to bolster value at the cybersecurity company
▼ + stars: | 2024-06-29 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Rapid7 Managed Threat Complete is the company's flagship offering, and it includes the Rapid7 Managed Detection and Response program. Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. The firm made its name taking deeply researched activist positions with well-conceived plans for long term value. Rapid7 is a cybersecurity company that expands the expertise of its clients' security operations. In addition, to shift from pure growth to a profitable software company, Rapid7 has focused on meeting targets for $160 million in free cash flow and improved margins.

Persons: Rapid7, Jana, Barry Rosenstein, Rosenstein, Tenable, It's, Corey Thomas, Cannae, Bradstreet, Ken Squire Organizations: VM, National Security Telecommunications Advisory, Federal Reserve Bank of Boston, Foreign Relations, of Massachusetts, LPL Financial, Vanderbilt University, Francisco Partners, Sumo, Cannae Holdings, 13D Locations: Splunk, Rapid7

☆ Nike is struggling to get its stride back
▼ + stars: | 2024-06-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

One answer rests in what the company calls its "lifestyle" business — basically, shoes and clothing meant for casual wear. Related storiesWhile revenue from performance products grew in Q4, declines in its lifestyle business overshadowed them, contributing to the worse-than-expected results. AdvertisementIn its last fiscal year, lifestyle products have grown to about 60% of Nike's business, UBS analyst Jay Sole estimates. "One of our big takeaways from Nike's 4Q report is its lifestyle business needs a major reset," Sole said. While CFO Friend said management is "confident that we are repositioning Nike to be more competitive," investors have yet to be convinced.

Persons: —, Matthew Friend, Friend, John Donahue, Jay Sole, Donahue, Jefferies, Randal Konik, Simeon Siegel, we're Organizations: Service, Business, Nike, Reuters, UBS, Nike's, Street, BMO Locations: China, Portland, Nike's

☆ These could be the next big food and beverage trends
▼ + stars: | 2024-06-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

More than 2,400 companies exhibited their foods and drinks for attendees, which include restaurant operators, specialty food retailers and trendspotters. Past show trends that are making their way to mainstream consumers' palettes include yuzu, mushrooms and sophisticated alcohol substitutes. Tinned fishKrill Arctic Foods' tinned krill meat Amelia Lucas | CNBCIn years past, tinned fish was relegated primarily to booths in the Spanish and Portuguese pavilions. TikTok helped fuel the tinned fish trend last year, boosting sales of canned sardines. Companies at the Summer Fancy Food Show showed off some new options to level up the charcuterie — especially the salami.

Persons: Jacob K, Jerry's, Amelia Lucas, Honey, Bee, Fish, Salumi Organizations: Specialty Food Association, Javits Convention, Products, CNBC, Acme, International, Companies Locations: New York, caffe, Spanish, Alaska

Users of collapsed bitcoin exchange Mt. At the height of its success, the platform was the largest spot bitcoin exchange in the world, claiming to handle around 80% of all global dollar trades for bitcoin. Gox creditors creates "downside risk" next month, though it would be short-lived. Gox creditors take place in July, [this] creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards," the analysts wrote. Gox creditors opted for in-kind reimbursement has to do with the tax implications.

Persons: Kiyoshi Ota, Gregory Greene, Greene, Bitcoin, Greene's, John Glover, Ledn, Glover, Gox, Alex Thorn, They'll, Roger Ver, Blockstream, Adam Back, Greg Maxwell, Bruce Fenton, Thorn, there's, There's, Luke Nolan, CoinShares, JPMorgan Organizations: Bloomberg, Getty, Mt, CNBC, bitcoin, Online, Galaxy Digital, Bitcoin, Barclays, JPMorgan Chase, Gox Locations: Gox, Illinois, bitcoin, Mt

☆ A teenager fell off a Utah cliff to his death. His sister found a unique way to keep his memory alive
▼ + stars: | 2024-06-29 | by ( Sydney Bishop | ) edition.cnn.com time to read: +12 min

Jonathan was taking photos when a cliff he stepped on crumbled and he fell more than 200 feet to his death. After his death Rebecca looked through her brother’s cameras and found photos Jonathan had taken the day he fell. Contributors to the Jonathan Fielding journal project follow instructions left with the journal, seen here near Utah's Highway 24. Sherr Joy recognized the name and the description from having read the news about Jonathan’s death. Courtesy Rebecca FieldingAccording to Rebecca, Jonathan once spent 30 minutes dissembling a lamp in a stranger’s yard to free a bird trapped inside.

Persons: Jonathan Fielding, Rebecca, Rebecca Fielding, ” Jonathan, she’d, ideations, “, ” Rebecca, Takis, ”, Jonathan, Jon G, Fuller, didn’t, “ Jonathan, “ Jonathan Fielding, Bro, ” Tammy Mayo Fielding, Jonathan’s, Sherrie Joyce Miller, Kelli Hansen, Miller, Joy, Sherr Joy, ” Rebecca Fielding, Hansen, ” Sherr Joy, “ Jonathan Fielding’s, Lord Huron, ” Jonathan Fielding's, David W, James H, Jonathan …, Jonathan —, she’s, ‘, ‘ Rebecca, I’m, ’ ” Rebecca, “ I’ll, I’ll, don’t Organizations: CNN, Capitol, Facebook Locations: Utah, Missouri, 988lifeline.org, Orem , Utah, Blue Springs , Missouri, Hanksville , Utah, Utah's, The Netherlands, “, San Rafael

☆ An alphabet soup of 'electrified' vehicles awaits new car buyers as EV sales stall
▼ + stars: | 2024-06-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

A car shopper today has their pick of traditional internal combustion engine (ICE) vehicles; mild-hybrid electric vehicles (MHEVs); hybrid electric vehicles (HEVs); plug-in hybrid electric vehicles (PHEVs); fuel cell electric vehicles (FCEVs) and battery-electric vehicles (BEVs), also commonly known as EVs. Here's a breakdown: Internal combustion engine (ICE): A "traditional" vehicle with an engine that's fueled with gasoline or diesel. Hybrid electric vehicle (HEV): Think of the Toyota Prius, a vehicle that has a hybrid powertrain system combined with an engine. Plug-in hybrid electric vehicle (PHEV) : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery. : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery.

Persons: Paul Waatti, Heather Seymour, Seymour, Stellantis, Waatti, Michael Wayland, Antonio Filosa, Russell Wager, Jérémie Papin, BEV Organizations: DETROIT —, Pacifica, Toyota, CNBC, Motors, Chevrolet, Kia America, EV, Kia, GM, Detroit, GM Energy, Ford Motor, Auto, Nissan, ICE, Toyota Prius Locations: U.S, Stellantis, St, Johns , Florida, Detroit, Japan, South Korea, Germany

☆ How do you actually network to land a new job? Microsoft's ex-VP of HR explains
▼ + stars: | 2024-06-29 | by ( Chris Williams | ) www.businessinsider.com time to read: +7 min

AdvertisementStep outside your bubble and network with other organizations in your industryBetter yet, get outside your current organization. Outside your organization, they're at that conference you went to last year. The conversation should be about the person you're networking withRemember in these conversations to make the discussion all about the person you're networking with. AdvertisementThe results take time but can last foreverThe results of great networking aren't fast. But a great network can last a lifetime.

Persons: —, I've, Anne, Gee, you've, You'd, let's Organizations: Service, Business, Microsoft

☆ People aren't spending like they used to and it's forcing companies like Nike and Walgreens to make drastic changes
▼ + stars: | 2024-06-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. People are still spending money, but there's an uncomfortable awareness that years of price hikes mean each dollar doesn't go as far as it used to. "This consumer remains very cautious, specifically when you think about larger ticket discretionary purchases," he told Oppenheimer analysts Wednesday. "Why have people who are having a hard time paying their rent have to pay more for our drink?"

Persons: —, they're, Joseph Lewis, Marvin Ellison, Oppenheimer, John David Rainey, Federal Reserve Banks, San Francisco Fed, Don Vultaggio Organizations: Service, Business, Bloomberg, Nike, Walgreens, Walmart, Federal Reserve, San Francisco, Philadelphia Fed, Iced Tea Locations: San Francisco, Philadelphia

☆ The US housing market has entered bizarro world
▼ + stars: | 2024-06-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

The US housing market is distorting a core principal of economics: supply and demand. Home prices soared to record highs in May, even as existing home sales fell and supply of homes for sale jumped. AdvertisementThe US housing market has officially entered bizzaro world. The law of supply and demand is a basic principle of any free market, and right now, it's being subverted by strange happenings in the real estate market. "When it comes to the housing market, the laws of supply and demand don't seem to apply any longer," economist David Rosenberg said in a note this week.

Persons: David Rosenberg, —, it's Organizations: Service, Business

☆ Nike stock plunges amid lackluster sales forecast
▼ + stars: | 2024-06-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike stock plunges amid lackluster sales forecastBob Drbul, Guggenheim Securities senior managing director, joins ‘Squawk Box’ to discuss Nike as the company's stock plunged following their projection of a more significant sales decline next year.

Persons: Bob Drbul Organizations: Nike, Guggenheim Securities

Learn moreNordstrom's Anniversary Sale is here and it's one of the best times to save on brands you already know and love. This is their best sale of the year, with deeper discounts than you'll find during any of their other promotions. AdvertisementWhen is the Nordstrom Anniversary Sale? The 2024 Nordstrom Anniversary Sale is happening for everyone from July 14 until August 4. Here's when you can start shopping Nordstrom Anniversary Sale dates based on your Nordy Club status.

Persons: Jeans, you'll, hasn't, Giorgio, Bobbi Brown, Trish McEvoy Organizations: Business, Nordstrom, tote, Nordy Locations: Longchamp, concealer

☆ EV charging is so bleak in the US that 46% of owners are considering going back to gas-powered cars
▼ + stars: | 2024-06-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Read previewIssues with charging has nearly half of electric-vehicle owners in the US considering going back to fossil fuels — the latest bad sign for the EV transition. A recent consumer study conducted by McKinsey found that 46% of US EV owners surveyed were likely to switch back to a gas-powered vehicle, compared to a global average of 29% of EV owners who said they would likely switch back to an internal-combustion engine. Respondents said the top reason for ditching their EVs was a lack of charging infrastructure. Though a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. The Biden administration has set aside $7.5 billion for charging infrastructure and has said it would add 500,000 EV charging stations by 2030.

Persons: —, Tesla, Biden Organizations: Service, McKinsey, EV, Business Locations: Australia

☆ Meta and Google have become new allies for retailers in their battle to steal ad dollars from Amazon
▼ + stars: | 2024-06-28 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +6 min

Read previewRetailers have new friends in their battle to steal ad dollars from Amazon: Meta and Google. And Kroger inked a deal to sell targeted Meta ads for grocery-focused brands. Instacart is working with YouTube to let advertisers target ads based on someone's shopping behavior on Instacart. Kroger Precision Marketing's Pratt said that Kroger is also pitching Meta ads to social advertisers as performance ad formats. Advertisers typically buy social ads to increase big branding goals like awareness, but retailers want to prove that social ads also drive sales.

Persons: —, Kroger, Ross Walker, Walker, Andrew Lipsman, Cara Pratt, Instacart, Shopify, Andrius Baranauskas, Baranauskas, Marketing's Pratt, Lipsman Organizations: Service, Google, Meta, Business, Amazon, Retailers, Media, Kroger, Marketing, Kroger Precision Marketing, YouTube Locations: Canada, Acadia, Shopify

☆ Nagel: This is likely the last bad report for Nike, a clearing event
▼ + stars: | 2024-06-28 | 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 EmailNagel: This is likely the last bad report for Nike, a clearing eventOppenheimer's Brian Nagel discusses Nike's disappointing quarter and whether the company will be able to leverage events like the Paris Olympics to boost sales.

Persons: Email Nagel, Brian Nagel Organizations: Nike, Paris Olympics

☆ The lack of EV charging infrastructure is so bad it's driving owners back to gas-powered cars
▼ + stars: | 2024-06-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Read previewIssues with charging have nearly half of electric vehicle owners in the US considering going back to fossil fuels – the latest bad sign for the EV transition. The top reason respondents listed for ditching their EV was a lack of charging infrastructure. Charging infrastructure here has long been a hot-potato issue, which has held back efforts to build more chargers. While a push from the automotive industry to fund charging infrastructure has led to a boom in public charging stations in the last two years, these have largely been money-losing ventures. On the government side, the Biden Administration has set aside $7.5 billion for charging infrastructure with a vow to add 500,000 EV charging stations by 2030.

Persons: —, Tesla, Biden Organizations: Service, McKinsey & Co, EV, Business, Biden Administration Locations: Australia

☆ Stocks making the biggest moves premarket: Nike, Trump Media & Technology, Infinera
▼ + stars: | 2024-06-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Nike — Nike shares sank more than 14% after the athletic retailer posted disappointing revenue for the recent quarter and cut its guidance, saying it expects sales to drop 10% in the current period. Trump Media & Technology — Shares of Trump Media & Technology jumped more than 10% on the heels of the first presidential debate between former president Donald Trump and President Joe Biden. JPMorgan upgraded Digital Realty Trust to overweight, saying that shares look poised to benefit from AI and cloud growth. SAP — SAP rose about 1% before the bell. BMO Capital Markets upgraded shares to outperform and lifted its price target, citing "high visibility" into bookings and revenue.

Persons: Donald Trump, Joe Biden, Infinera, —, Jesse Pound Organizations: Nike — Nike, Trump Media & Technology, Nokia, JPMorgan, Realty Trust, SAP, BMO Capital Markets

☆ European stocks set to open higher as investors await fresh inflation data
▼ + stars: | 2024-06-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are poised to open higher Friday as investors look ahead to key inflation data from the euro zone and U.S. Regional stocks ended the previous session lower, as retail was dragged lower after a profit miss for H&M. Markets are watching out for fresh inflation data from France, Italy and Spain later in the session, while Germany releases unemployment figures and retail sales. Asia-Pacific markets climbed on Friday as investors assessed key economic data out of Japan. Meanwhile, U.S. stock futures were mixed ahead of the release of May's core personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge, Friday morning.

Organizations: Regional, U.S, U.S . Federal Locations: U.S, France, Italy, Spain, Germany, Asia, Pacific, Japan, U.S .

☆ Nike CEO John Donahoe comes under fire from Wall Street after lackluster performance
▼ + stars: | 2024-06-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

As Wall Street digested the dismal outlook from the world's largest sportswear company, at least six investment banks downgraded Nike's stock. Analysts at Morgan Stanley and Stifel took it a step further, specifically calling the company's management into question. The company also said it expects fiscal 2025 sales to be down mid-single digits when it previously expected them to grow. If you ask Phil Knight, Nike's founder and its chairman emeritus, Donahoe is doing just fine. "I am optimistic in Nike's future and John Donahoe has my unwavering confidence and full support."

Persons: Jim Duffy, Morgan Stanley, Stifel, Donahoe, Matt Friend, That's, Hoka, Jessica Ramírez, Jane Hali, Nike didn't, they've, Kevin McCarthy, Neuberger Berman, CNBC's Scott Wapner, " McCarthy, They've, you've, it's, he's, Phil Knight, John Donahoe Organizations: Nike, eBay, Air Force, Air, Associates, CNBC Locations: 2HCY25, China, …, U.S

☆ A bride says the $1,000 Jimmy Choo shoes she splurged on for her wedding broke after she wore them for 5 minutes
▼ + stars: | 2024-06-28 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +8 min

In April, she found what she thought were the perfect shoes at Jimmy Choo. AdvertisementDante told BI that representatives from Jimmy Choo apologized to her for her experience on Tuesday. AdvertisementDante ultimately got a refundDante considered buying a different pair of Jimmy Choo shoes but ultimately decided she just wanted a refund on the original pair. #jimmychoo @Jimmy Choo ♬ original sound - michaelarose123Dante told BI she expected better customer service from a luxury retailer. But she told BI she won't be in a rush to buy another luxury product herself.

Persons: —, Michaela Dante, Dante, Jimmy Choo, I've, Michaela Dante That's, Dante Dante, Dante hadn't, didn't, @michaelarose123, jimmy choo, michaelarose123 Dante, Jimmy Choo's Organizations: Service, Area, Business, BI Locations: —

☆ How Glossier's perfume saved it from the millennial dustbin
▼ + stars: | 2024-06-28 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But the recent success of Glossier's "You" perfume — which isn't new, but has been introduced to a new Gen Z audience thanks to a viral TikTok — is helping pull the brand back to life. The TikTok wasn't part of some big plan of Glossier to get back into the graces of the younger crowd. Related storiesA single viral TikTok, in theory, might fade away, but Glossier reacted to the successful viral moment among Gen Z buyers. AdvertisementFor the record, as a dutiful millennial woman, I own and enjoy several Glossier products (I personally love their mascara).

Persons: —, Glossier, Kyle Leahy, Mack, TikTok, Emily Weiss, Marisa Meltzer Organizations: Service, Business, Bloomberg Locations: Sephora

☆ You can't kill Coach
▼ + stars: | 2024-06-28 | by ( Amanda Krause | ) www.businessinsider.com time to read: +10 min

Mandy Moore carries a Coach bag in 2006. And with fewer people buying Coach bags, consumer ideas of the brand shifted. Keel, who purchased her first Coach accessory — a discounted cardholder from Coach Outlet — around that time, remembers the change in the brand's perception vividly. AdvertisementKate Bauer, a 29-year-old from Toronto, collects vintage Coach bags that she exclusively buys secondhand. She told BI that the importance of old Coach styles to the brand's current business has never been clearer.

Persons: —, Paris Hilton, I'd, Gilbert Carrasquillo, Lil Nas X, Gen Z, Erin Keel, Lillian Cahn, Miles Cahn, Lillian, Bonnie Cashin, Lew Frankfort, Mandy Moore, Michael Loccisano, Michael Kors, Kate Spade, Victor Luis, Keel, Chanel, wasn't, — Luis, Jide J, Zeitlin, — Todd Kahn, Coach, Camila Mendes, Beth Goldstein, Gen, Kate Bauer, Edward Berthelot, Goldstein Organizations: Business, Leatherware, —, North, BI Locations: New York City, Los Angeles, Frankfort, Toronto

☆ Skip Nvidia? Value investor David Katz is betting on 4 'lower risk' stocks instead
▼ + stars: | 2024-06-28 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"There are better places to make money with a lot lower risk," he added, naming several stocks he likes right now. "Right now, technology stocks are selling at 30 and 40 times earnings. The markets are at 22 times earnings. Trading at 22 times forward earnings, he said the stock offers "a great business at a very good price." The market is 21 times earnings.

Persons: David Katz, CNBC's, Katz, We're, — CNBC's Amelia Lucas Organizations: Nvidia, Cisco Systems Technology, Cisco Systems, Cisco, Starbucks, Bank of New York Mellon, PNC Financial Services Locations: U.S, Israel

☆ CNBC Daily Open: Roaring Kitty, Nike flops, inflation on deck
▼ + stars: | 2024-06-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nike warningShares of Nike plunged 12% in extended trading after the sneaker giant slashed its full-year guidance, anticipating a 10% drop in sales for the current quarter. Roaring Kitty, back againChewy shares experienced a rollercoaster ride on Thursday, soaring as much as 34% following a cryptic post by meme stock influencer Roaring Kitty, before falling back into negative territory.

Persons: Matthew Friend, Nike's, Tim Wentworth, Kitty, CNBC's Michelle Fox Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Micron, Nvidia, Treasury, Nike, Walgreens, BCA Research Locations: New York City, U.S, Israel, Lebanon, Greater China, China

☆ A shower just for your dog is the new home status symbol
▼ + stars: | 2024-06-28 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

While healthcare and food constitute the majority of pet owner expenses, a new trend has emerged: dedicated pet wash stations. Related storiesDepending on the level of luxury, pet wash stations can cost homeowners between $400 and $2,000 to DIY, according to home-maintenance site The Spruce. The materials that will be used in a pet shower being developed by Highland Homes. Therefore, it's not surprising that many are enhancing their appeal by incorporating tailored features like pet wash stations into their builds. AdvertisementA dog spa in a Highland Homes property.

Persons: —, Sanju, Surtani, We've, that's, DINKWAD, homebuilders, it's Organizations: Service, Business, Highland Homes, National Association of Real Estate, Homes, American Pet Products Association, Highland Locations: Highland, Highland Homes

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