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☆ Ebay to lay off 500 employees
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

Feb 7 (Reuters) - E-commerce firm eBay Inc (EBAY.O) said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce. Shares of the San Jose, California-based company rose about 1% in aftermarket trade. "This shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets," said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees. A raft of U.S. companies from Goldman Sachs Group Inc (GS.N) to Alphabet Inc (GOOGL.O) have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. Reporting by Chavi Mehta and Shreyaa Narayanan in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Ebay plans to lay off 500 employees, about 4% of its workforce
▼ + stars: | 2023-02-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: 1 min

Ebay on Tuesday announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC. Shares of eBay were up slightly in extended trading Tuesday. In a memo to employees, CEO Jamie Iannone said the company decided to make cuts after examining the global macroeconomic environment over the past several months. He said the cuts will strengthen eBay's ability to deliver better experiences for its customers, and it will help eBay focus on areas where it can make the most impact.

☆ The Southwest personal credit cards are offering a rare welcome bonus that includes a Companion Pass, but only for a limited time
▼ + stars: | 2023-02-07 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +17 min

This is a great deal, but the promotional Companion Pass isn't quite as valuable as a standard Companion Pass. But through March 13, 2023, three of Southwest's best credit cards (the Southwest Rapid Rewards® Plus Credit Card, Southwest Rapid Rewards® Premier Credit Card, and Southwest Rapid Rewards® Priority Credit Card) come with a welcome bonus that includes a promotional Companion Pass. Compare Southwest credit cards Southwest Rapid Rewards® Plus Credit CardSouthwest Rapid Rewards® Premier Credit CardSouthwest Rapid Rewards® Priority Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. The Southwest Companion Pass allows you to change your designated companion up to three times per calendar year. You can achieve the Southwest Companion Pass after earning 135,000 Southwest points in a calendar year.

☆ How to snag discounts through Beni, an online shopping tool that hunts for resale deals on Poshmark, eBay, and The RealReal
▼ + stars: | 2023-02-06 | by ( Danni Santana | ) www.businessinsider.com time to read: +5 min

Beni, a browser extension, helps shoppers curate resale listings while browsing retail sites online. BeniShoppers are required to download the Beni extension on Google Chrome or Safari. Then, they must enable the extension while shopping online to view resale listings. "So let's say you find a Patagonia jacket that you really love, we'd show you 20 jackets often that are exactly the same from places like eBay or The RealReal," Pinner said. In return for real-time listings data, Beni markets new resale items to customers as they shop outside of their platforms.

☆ A laid-off Meta worker says she's struggling after not getting the 16 weeks of severance her fellow employees received: 'I'm going through my kids' closet and selling their old clothes'
▼ + stars: | 2023-02-03 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +7 min

Meta employees who were laid off at the end of last year received 16 weeks or more of severance pay. In addition to those four months of pay, employees were offered two additional weeks of severance for every year at the company, with no limit. Those workers received fewer weeks of severance and insurance than other Meta employees — they were given only the amount of pay necessary to comply with federal law. Beyond that, Levy told Insider that she wasn't offered any other severance pay, only three months of health insurance. But she's in a tough spot with limited severance pay, and she said that the $450 ceiling for unemployment benefits in California is not keeping up with the cost of living.

☆ Fanatics to start livestreamed shopping of trading cards, collectibles
▼ + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.

☆ Morning Bid: Lights, camera, action
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

Investors are pricing in a quarter-of-a-percentage-point increase in the Fed's benchmark interest rate, which would mark the smallest hike since U.S. central bankers kicked off their tightening cycle 10 months ago with one the same size. But the forecasts still risk lagging behind policymakers' guidance on how high rates will go. The Bank of England is also expected to raise its interest rates by half a percentage point to 4% on Thursday. For today, European markets will focus on euro zone January flash PMI data, while results are due from Vodafone (VOD.L), GSK (GSK.L) and Novartis (NOVN.S). Germany and Italy figured among the biggest euro zone countries that recorded negative growth rates for the quarter but France and Spain expanded.

☆ An unopened first-generation iPhone from 2007 is going up for auction, and it's expected to fetch at least $50,000 — more than 80 times its original price
▼ + stars: | 2023-02-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Cosmetic tattoo artist Karen Green was gifted a first-generation iPhone in 2007 but never opened it. Now, she's putting it up for auction, where it's expected to fetch at least $50,000, more than 80 times its original price. Last year, another factory-sealed original iPhone auctioned for nearly $40,000. When she heard of another original, unopened iPhone listing on eBay for $10,000, she took note. The device was in fact unopened and the original iPhone.

☆ Self-made millionaire: Here are 8 things rich people do differently that make them 'ultra wealthy'
▼ + stars: | 2023-01-29 | by ( Grant Cardone | ) www.cnbc.com time to read: +4 min

But I wish I had known sooner how ultra wealthy people think about money. Instead, cash-flow real estate is the place to protect and grow money. On the flip side, cash-flow real estate — commercial real estate where you are making a monthly profit off of rent after your mortgage payments, property taxes and maintenance — is a great way to grow your money. This can apply to a business — the rich may contract to buy bulk supplies or equipment — or to you personal life. And most of the real estate I own today was purchased from sellers who picked me over other qualified buyers because we had existing relationships, and they had confidence in my ability to close.

☆ Activist Elliott to nominate directors at Salesforce -sources
▼ + stars: | 2023-01-26 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 26 (Reuters) - Elliott Management Corp, the activist investment firm that recently made a multimillion-dollar investment in Salesforce (CRM.N), plans to nominate several director candidates at the cloud-based software company, people familiar with the matter said on Thursday. Elliott, which invests more than $55 billion, is currently interviewing a number of people including technology industry executives and executives in other industries, the people said. Elliott has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest (PINS.N), Twitter and eBay (EBAY.O). News that Elliott expects to nominate directors, first reported by the Wall Street Journal, came after Bloomberg reported Salesforce was considering refreshing its board, a step some companies take preemptively if activists start building holdings of their shares. At Salesforce there are at least four activist investors including Elliott, Starboard Value, Jeff Ubben's Inclusive Capital and ValueAct, the firm Ubben founded and which is now run by Mason Morfit, sources familiar with the matter said.

☆ Shopify laid off 2 engineering VPs earlier in January as fears of more layoffs circulate
▼ + stars: | 2023-01-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify laid off at least two engineering vice presidents earlier in January. Shopify laid off at least two high-ranking engineering leaders this month, according to people familiar with the matter. The two employees were VP of Infrastructure Mike Lents and VP of Engineering Ravi Byakod. A Shopify spokesperson confirmed the departures. Shopify laid off about 10% of its workforce, which included more than 1,000 people, in July 2022.

☆ Facing growing calls for reform, Salesforce could use some fresh faces on its board
▼ + stars: | 2023-01-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

The enterprise software giant is considering at least three potential board appointees, Bloomberg News reported Thursday , citing people with knowledge of the matter. Among those reportedly in conversation to join Salesforce's board are former Carnival Cruise CEO Arnold Donald, Mastercard CFO Sachin Mehra and Mason Morfit, the chief executive of ValueAct Capital. And the firm is now planning to nominate candidates for Salesforce's board, The Wall Street Journal reported Thursday . Bottom line We're encouraged by the Bloomberg report because Salesforce's board could undoubtedly use a refresh, with multiple directors having served for 10 years or more, according to FactSet. New board members, coupled with growing activist pressure, could could be just the boost Salesforce needs and that the market wants to see.

☆ Chevron’s mammoth buyback plan – Here’s why Wall Street loves share repurchases
▼ + stars: | 2023-01-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

With a market cap of $346 billion, a $75 billion buyback is about 20% of the shares outstanding. Exxon Mobil also has a $50 billion buyback plan, for example. Wall Street loves buybacks Buybacks have become an important part of returning shareholder profits. "Wall Street loves buybacks for two reasons," Howard Silverblatt, senior index analyst, product management for S & P Dow Jones Indices, told me. Here's a list of larger companies that had significant share count reduction in Q3, the last quarter with complete data.

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☆ Disney World closed Splash Mountain after allegations of racism. Not everyone's happy.
▼ + stars: | 2023-01-24 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +4 min

Walt Disney World has closed its famous Splash Mountain water ride, the Magic Kingdom attraction that for years had been criticized for having racist roots. Goodbye, Splash Mountain,” read the caption of one video that had more than 1,300 likes Tuesday afternoon. The website for Tokyo Disneyland does not indicate if or when its Splash Mountain ride will close. A representative for Walt Disney World did not immediately respond to questions Tuesday. Splash Mountain is no stranger to controversy: In 2018, it made headlines when Walt Disney World banned a man who rode it while holding up a "Trump 2020" sign.

☆ Inside the private meeting at Jack Ma's apartment where he plotted to take on Silicon Valley with a trusted 'ragtag bunch' of early employees
▼ + stars: | 2023-01-24 | by ( Brian A. Wong | ) www.businessinsider.com time to read: +8 min

In one apartment, Jack, Lucy Peng, and a few other leaders worked alongside the firm's engineers. Everyone's enthusiasm flowed from their strong identification with the company's mission and Jack's vision, and if it was part of our mission, all believed, it was certainly achievable. In fact, in time, I would grow to better understand and more deeply embrace Alibaba's mission, vision, and values and the way they motivated our people. That's what Savio Kwan, Alibaba's first COO, did, codifying Jack's ideas into our company mission, vision, and values. Their efforts would form the basis of Alibaba's core mission, vision, and values statement— the guiding force or beliefs for Alibaba's development then and now.

☆ It's a terrible time to be a sneaker reseller
▼ + stars: | 2023-01-24 | by ( Lois Sakany | ) www.businessinsider.com time to read: +8 min

Adidas' messy breakup with Ye is the latest in a series of complications for sneaker resellers. Sneaker resellers have felt the effects of the end of the stimulus check and the rise of inflation. Sneaker resellers saw a bot crackdownWhile not as lucrative as Nike in the aftermarket, it was easier to buy Yeezys in bulk on Yeezy Supply using bots. The loss of Yeezy sales then combined with Nike's crackdown on bots. I'm working to expand my team to accommodate the online customer, walk-in customer, and sneaker customer," Falcon said.

☆ You could be buying shoplifted stuff on Amazon, eBay, or Facebook Marketplace
▼ + stars: | 2023-01-24 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Many are selling stolen goods on online platforms to unwitting consumers. A Meta spokesperson said Facebook Marketplace prohibits the sale of stolen items and has "specialized teams that work with law enforcement to respond to legal requests." This e-fencing — the selling of stolen goods online — is not a new phenomenon. In recent years, many online platforms have already taken steps to crack down on the selling of stolen goods. To what degree the legislation, along with other measures, reduces the sale of stolen goods across these platforms remains to be seen.

☆ Activist investor Elliott Management takes stake in Salesforce -sources
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

Jan 22 (Reuters) - Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc (CRM.N), according to people familiar with the matter. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told Reuters. Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director.

☆ Activist investor Elliott Management reportedly takes stake in Salesforce
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: +2 min

Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc, according to people familiar with the matter. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott told Reuters. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director.

☆ Activist investors in Salesforce spell good news for shareholders like us
▼ + stars: | 2023-01-23 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Pressure from activist investors is mounting at Club holding Salesforce (CRM). Elliott's investment in Salesforce comes roughly three months after activist investor Starboard Value disclosed a position in the company. Moreover, Jim Cramer has said, at least two other investors with activist backgrounds, including Jeff Ubben , have taken a stake in Salesforce. If these high-profile investors thought Salesforce was irreparably damaged company, whose tech was at a competitive disadvantage, they may have looked elsewhere. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Judith Schaus, 32, left Berlin with her husband and son for a farmhouse in the countryside. She said the move's changed their lives and that farm DIY has given her a sense of self-confidence. Judith SchausWe got the idea of moving to the countryside during the COVID-19 pandemic after we toured Brandenburg in a van. Judith Schaus. Judith SchausWe also have raspberries, currants, and loads of fruit trees on the property.

☆ Companies like Etsy, eBay, and PayPal are fighting a new tax law they fear could lead to an avalanche of 40 million new tax forms and mass confusion among their users
▼ + stars: | 2023-01-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +6 min

A group of companies including Etsy, eBay and PayPal are lobbying against new tax rules. E-commerce companies including Etsy, eBay, and Poshmark are lobbying to stop a new tax rule that they say would confuse millions of their users. But at the lower threshold, an estimated 30 to 40 million businesses or individuals could receive a 1099-K for the first time in 2024. An eBay spokesperson said the lowered threshold is "concerning for many sellers on eBay who casually sell online to help meet important financial needs." Jeffrey Zubricki, head of Etsy Americas advocacy and public policy, was optimistic about efforts to raise the threshold from $600.

☆ I quit the NFL to trade Pokémon cards. I was making just as much playing football, so I decided to do something I love.
▼ + stars: | 2023-01-18 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +8 min

Martinez, 29, retired from the NFL in November 2022 to trade Pokémon cards. I first got involved with Pokémon cards when I was 6. We ended up doing a box break on Whatnot, and we turned $50,000 worth of Pokémon cards into $108,000 in that first show. That's what I try to tell the team — you're in control on that screen. cards, sports cards, shoes, and clothes.

☆ The bestselling resale sneakers of 2022, including Yeezys, Jordans, and the controversial Nike Panda Dunk
▼ + stars: | 2023-01-16 | by ( Matthew Kish | ) www.businessinsider.com time to read: 1 min

Adidas Yeezy Slide "Ochre"Adidas Yeezy Slide "Ochre" Courtesy AdidasThe Adidas Yeezy Slide "Ochre" released for $60 in December 2021 and it has continued to be a hit with sneaker lovers. The Yeezy slide has distinctive grooves on the outsole designed to add better traction. Numerous pairs are currently listed on eBay for more than double the original retail price as consumers stock up on Yeezys they want to add to their collections. It remains unclear how popular Yeezys will remain after Adidas' split with Ye, formerly known as Kanye West, in October.

☆ The bizarre reason Ronzoni is no longer making its beloved tiny pastina pasta
▼ + stars: | 2023-01-14 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Ronzoni is discontinuing its popular tiny-star-shaped pastina pasta this month. "Unfortunately, our long-term supplier informed us that they would no longer be making Ronzoni Pastina as of January 2023." "Your passion for Ronzoni fuels our passion to deliver for you," Ronzoni wrote. "We haven't given up, but as of today we can no longer offer Ronzoni Pastina to our customers. Thank you for your understanding and trust in Ronzoni pasta."

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