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☆ Barbie owes her existence to a 1950s German comic strip
▼ + stars: | 2023-06-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +8 min

Barbie likely wouldn't exist if Mattel's founder hadn't stumbled across Bild Lilli, a plastic doll based on a comic strip. The first Barbie doll, from 1959, had Lilli's red lips, high blonde ponytail, and winged eyeliner. But these dolls had flat chests, big bellies, and squatty legs – they were built like overweight six- or eight-year-olds," Handler wrote. The newspaper began making Lilli dolls in 1955 because of the comic's popularity and to market the newspaper. "Here were the breasts, the small waist, the long, tapered legs I had enthusiastically described for the designers all those years ago," Handler wrote.

Persons: Barbie, hadn't, Ruth Handler, —, Ruth Handler —, Mattel —, Barbara, Handler, Lilli, SSPL, Axel Springer publication's, Reinhard Beuthein, Robin Gerber, Ruth, Gerber, Elliot, Frederic Neema, Mattel, Lobel, Greiner, Louis Marx, Marx, Fiona Hanson, Hausser Organizations: Bild Lilli, Service, Mattel, Getty Images, Hausser, Getty, Greiner, Hausser's Locations: Europe, Lucerne, Swiss, Los Angeles, Lilli, New York

The Labor Department reported that U.S. job openings unexpectedly rose in April, pointing to persistent strength in a labor market that suggests pressure on both wages and inflation. Futures traders raised to 70% the probability of a 25 basis points hike at the Fed's June 13-14 policy meeting. FEDWATCHFed Governor and vice chair nominee Philip Jefferson said skipping a rate hike in two weeks would provide policymakers time to see more data before making a decision. The Labor Department's closely watched May unemployment report, due on Friday, could decide whether a rate hike occurs. Intel was the biggest gainer on the S&P 500 as the chipmaker said it was on track to hit the upper end of its second-quarter revenue forecast.

Persons: Brendan McDermid, Joe Biden, it's, Brad Conger, Callaghan, Conger, FEDWATCH, Philip Jefferson, Patrick Harker, Tim Ghriskey, we've, Nvidia Corp's, Herbert Lash, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Senate, Co, Labor Department, Philadelphia Fed, Inverness, Labor, Dow Jones, Nasdaq, Technology, Federal Deposit Insurance Corporation, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, Intel, Thomson Locations: New York City, U.S, Conshohocken , Pennsylvania, New York, Bengaluru

[1/2] Fearless Girl is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2023. The S&P 500 was set to end the month flat, while the Dow shed 3.8%. The S&P 500 financial sector index (.SPSY) fell 1.7%, while banks (.SPXBK) dropped 2.7%. Advance Auto Parts Inc (AAP.N) plunged 33.9%, falling the most on the S&P 500, after the auto parts retailer cut its full-year forecasts. Declining issues outnumbered advancers for a 2.21-to-1 ratio on the NYSE and for a 2.02-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Joe Saluzzi, Phil Blancato, Nvidia Corp's, advancers, Shreyashi Sanyal, Shashwat Chauhan, Shounak Dasgupta, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Senate, Themis, Labor, Survey, Traders, Asset Management, Dow Jones, Technology, Federal Deposit Insurance Corporation, Advance, Parts Inc, Genuine, O'Reily, Hewlett Packard Enterprise Co, Nvidia, NYSE, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Advance Auto Parts shares plummet 30% after dismal results, cuts to outlook and dividend
▼ + stars: | 2023-05-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Shares of Advance Auto Parts plummeted roughly 30% during early trading Wednesday after the company's fiscal first-quarter earnings significantly missed Wall Street's expectations and executives slashed the retailer's yearly guidance and quarterly dividend. The Raleigh, North Carolina-based auto parts supplier blamed its dismal results and bleaker outlook on higher-than-expected costs for its professional sales, inflationary pressure, supply chain problems and an unfavorable product mix. Its quarterly revenue of $3.42 billion slightly missed expectations of $3.43 billion. Shares of other auto parts suppliers such as O'Reilly Automotive and AutoZone were also lower Wednesday. However, some Wall Street analysts believe Advanced Auto Parts' problems could be more operational than industrywide.

Persons: Refinitiv, Tom Greco, Oppenheimer, Brian Nagel Organizations: Advance, O'Reilly Automotive, O'Reilly Auto Locations: Raleigh, North Carolina

☆ Advance Auto eyes record daily percentage drop after forecast cut
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, May 31 (Reuters) - Advance Auto Parts' stock (AAP.N) was on track for its biggest daily percentage drop since the company went public in 2001 and was leading a selloff in other auto parts retailers Wednesday after the company cut its full-year forecast. Advance Auto's shares were last down 33.7% at $74.44, and hit their lowest level since March 2020. Shares of Genuine Parts Co (GPC.N) were down 5.3%, while Autozone (AZO.N) was down 4.6% and O'Reilly Automotive (ORLY.O) slipped 3.4%. Advance Auto cited elevated raw material, labor and freight costs as it reported results and gave its guidance. Its forecast cut follows a recent disappointing outlook from Foot Locker (FL.N) and underscores weakness in some areas of retail this earnings season.

Persons: Caroline Valetkevitch Organizations: YORK, O'Reilly Automotive, Advance, Thomson

☆ France bans short-haul flights as it looks to cut transport emissions
▼ + stars: | 2023-05-24 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

The government there wants to cut short-haul flights in the country to reduce emissions. A French ban on domestic short-haul flights when alternative train journeys exist came into force this week, with one lawmaker hailing it as "an essential step" in the country's efforts to cut greenhouse gas emissions. The law, which was published via decree, essentially prohibits public internal flights between French destinations when a train journey of under 2 hours and 30 minutes is available. It means public passenger flights between Paris-Orly and cities like Bordeaux, Nantes and Lyon, are affected by the law. In a statement translated by CNBC, Clément Beaune, transport minister, described the move as "an essential step and a strong symbol in the policy of reducing greenhouse gas emissions."

☆ The top large-cap fund manager from the past 12 months shares the simple change he made that completely turned around his performance — and 13 stocks he loves now
▼ + stars: | 2023-05-12 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

That realization led portfolio manager David Miller to launch the Catalyst Insider Buying Fund (INSIX) nearly 12 years ago. While many funds factor in insider transactions when selecting stocks, few use it as their main prerequisite when screening investments. But in the last 12 months, it's the best-performing large-cap fund on the market through April 30, according to Kiplinger. All of these companies have benefitted from insider buying to some extent, but some have been lifted even more by company buybacks. "They've just been gobbling up their own stock," Miller said of O'Reilly Automotive.

☆ Sometimes It’s Not the Airline’s Fault. It’s Yours.
▼ + stars: | 2023-04-26 | by ( Dawn Gilbertson | ) www.wsj.com time to read: 1 min

Illustration: Dan PageSome travelers splurge on a Louis Vuitton handbag during a Paris vacation. My souvenir was decidedly less sexy: a $400 penalty for boneheadedness. I shelled out that money at Paris Orly Airport after I made an embarrassing but common mistake. I booked the wrong date for a nonrefundable flight to Portugal and didn’t find out until I tried to check in with TAP Air Portugal at the airport.

Strikes have rolled through France, Portugal, Britain and Germany in recent weeks and could cause air travel disruption in parts of Europe through the Easter holidays, officials at airlines, airports and air traffic authorities told Reuters. There's no doubt about it," said Steven Moore, who is in charge of air traffic management operations at Eurocontrol. Airlines say they have to pay compensation without themselves getting compensated for air traffic delays. Consumer groups say air traffic control strikes are not new and airlines should be quicker to react and pay compensation. He called last week on the European Commission to do more to stop such strikes hitting overflights, by introducing minimum service rules, though industry experts say strikes are a national issue.

☆ Workers at $12 billion HR startup Deel say they may have been misclassified as independent contractors. Deel says it has not.
▼ + stars: | 2023-03-23 | by ( Jenna Gyimesi | Rob Price | ) www.businessinsider.com time to read: +4 min

Over half the company's workers are classified as independent contractors — including the CEO. But in a recent Insider feature, workers at the $12 billion company said they have concerns Deel may have misclassified them and their colleagues as independent contractors. At least half the company's 2,000 workers around the world are employed as independent contractors. Many workers that Insider spoke to said there seems to be no noticeable difference in the responsibilities of independent contractors and employees. While most independent contractors work on short-term tasked based projects, contracts reviewed by Insider showed independent contractors at Deel work for multiple years at a time.

☆ France pension reform protests turn violent following national day of action
▼ + stars: | 2023-03-23 | by ( Aurore Laborie Dalal Mawad Oliver Briscoe Allegra Goodwin Pierre Bairin Helen Regan | Aurore Laborie | Dalal Mawad | ) edition.cnn.com time to read: +4 min

Paris CNN —More than a million people took to the streets across France on Thursday with protests turning violent in some areas as demonstrators voiced their fury at proposed pension reforms. At least 80 people were arrested and 123 police officers injured in France on Thursday during the nationwide protests, French Interior Minister Gerald Darmanin said. The gate of the Bordeaux city hall after it was set on fire during a demonstration on a national day of action, on March 23 in Bordeaux, southwestern France. French riot police apprehend a protester amid clashes during a demonstration against pension reform in Paris on March 23, 2023. It rammed the legislation through the French National Assembly last week using a constitutional clause that allows the government to bypass a vote.

The country’s generous pension system and early retirement have long been a point of pride since they were enacted after World War II. Railway workers hold a banner reading "Until the withdrawal" during a demonstration a few days after the government forced the pension reform through parliament without a vote. Macron and his government have defended the retirement reform as necessary to keep the pension system funded. He also defended the decision to push through the reform as financially necessary, no matter how unpopular it was. Between opinion polls and the national interest, I chose the national interest,” Macron said.

☆ Deel Speed: The inside story of a $12 billion HR startup's breakneck growth
▼ + stars: | 2023-03-20 | by ( Rob Price | ) www.businessinsider.com time to read: +32 min

Insider spoke with more than 30 current or former Deel workers about the HR company's extraordinary rise, and the unconventional tactics that made it possible. "I think if you talk to anyone, they would say that Alex is the face but all decisions run through Phillipe," one former Deel worker told Insider. "They lose every employment and labor protection," Valerio De Stefano, a professor at Osgoode Hall Law School, said of independent contractors. Alex Bouaziz, Deel on Centre Stage during day two of Collision 2022 at Enercare Centre in Toronto, Canada. The company didn't have an internal human-resources team until sometime in 2021, by which point it had grown to hundreds of people.

On Tuesday, a nationwide day of industrial action brought record numbers of people onto the streets against the policy change. But Olivier Gantois, the head of the French Association of Petroleum Industry (UFIP), said there was little impact on consumers for now. The logo of French oil and gas company TotalEnergies is seen at TotalEnergies fuel depot in Mardyck, near Dunkerque, as France faces the sixth nationwide day of strike and protests against French government's pension reform plan, France, March 7, 2023. REUTERS/Pascal RossignolThe four French LNG terminals and all of the gas storage facilities also remained blocked, FNME-CGT representative Fabrice Coudour said. The next nationwide day of strikes and protests is set for Saturday.

☆ Europe is trying to move from planes to trains. Here's how that's going
▼ + stars: | 2023-03-07 | by ( Miquel Ros | ) edition.cnn.com time to read: +11 min

Aviation emissions in Europe increased an average of 5% year-on-year between 2013 and 2019, according to the EU. Not surprisingly these moves have set alarm bells ringing in the aviation industry. “For many decision-makers, banning short-haul flights and showing support to the rail industry is an easy win to gain favor with the public, especially in Europe,” Montserrat Barriga, the ERA’s director general, told CNN. “Governments continue ignoring the biggest source of aviation emissions – long-haul flights, that remain unpriced and unregulated,” says T&E’s Dardenne. Better connectivity between intercity rail and airports would also reduce the need for short-haul flights.

Air France said about 20% of short-haul flights would be canceled, but long-haul services would be maintained. The reforms will gradually increase the age at which most French citizens can draw a state pension to 64, from 62. A record 1.3 million people took part in demonstrations on January 19, which brought the country to a standstill and shuttered the Eiffel Tower to visitors. The government has said the pension legislation is necessary to tackle a funding deficit, but the reforms have angered workers at a time when living costs are rising. The legislation is currently before French lawmakers, with a vote on the final version of the text expected later this month.

☆ 'Let's bring France to a halt': Oil refineries blocked and trains halted by pension reform protests
▼ + stars: | 2023-03-07 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Christophe Archambault | Afp | Getty ImagesStrike action over plans to raise the pension age in France caused widespread disruption on Tuesday, as trains came to a near-standstill, many schools were shut and fuel deliveries were blocked from refineries. Lou Benoist | Afp | Getty ImagesEric Sellini, a representative from the CGT union at TotalEnergies, told Reuters that a strike blocking the Gonfreville refinery in Normandy would run until Thursday. Another at the Donges refinery in western France is set to run until Friday, he added. Sameer Al-doumy | Afp | Getty ImagesThe strikes come as French workers grapple with red-hot inflation, which accelerated unexpectedly in February to hit 6.2% year-on-year. Around two thirds of the public support protests against the pension reforms, according to an Elabe survey.

PARIS, March 5 (Reuters) - Industrial action in France over the government's planned pensions overhaul will cause heavy disruption to public transport again on Tuesday, the transport minister and several public transport authorities said on Sunday. Some unions, such as the hardline CGT, called for a rolling strike at refineries and at the national railway operator SNCF. "We are moving up a gear," the head of CGT, Philippe Martinez, told French weekly JDD. It is up to him to withdraw this reform," he said, referring to President Emmanuel Macron. RATP, the public transport operator for the Ile-de-France region around Paris, also said metro lines and suburban trains will be heavily disrupted, with some metro lines only running at peak hours.

☆ Senators call on Medicare to offer broad coverage of Alzheimer's treatments as public pressure grows
▼ + stars: | 2023-02-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

U.S. senators on Friday called for Medicare to offer broad coverage of Alzheimer's treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precious time as their disease progresses. The 20 senators told CMS that Alzheimer's will cost the nation $1 trillion by 2050 if the U.S. does not take decisive action. As a consequence, Medicare coverage for the expensive drug is basically nonexistent. The Alzheimer's Association wrote CMS in December calling for the agency to provide unrestricted Medicare coverage for Leqembi. "We believe Medicare beneficiaries should have unimpeded access, broad and simple access to Leqembi because the data fulfill those criteria."

☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ A flurry of earnings reports, Fed rate hike, signs of a bull market
▼ + stars: | 2023-02-04 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Earnings season continues next week, with Club holdings Linde (LIN), Emerson Electric (EMR) and Walt Disney (DIS) all set to report. Similarly, shares of Meta Platforms (META) have surged over 20% since CEO Mark Zuckerberg reassured investors Wednesday evening that 2023 would be the technology giant's "year of efficiency." The bull case is further supported by continued signs inflation is easing, a still-robust job market and the breadth of market-buying activity since the start of the year. Lastly on Wednesday, the Fed's Federal Open Market Committee raised the federal funds rate by 25 basis points, in line with expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ France hit by nationwide strike as unions fight Macron’s plan to raise retirement age
▼ + stars: | 2023-01-19 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

French workers would have to work longer before receiving a pension under the new rules — with the nominal retirement age rising from 62 to 64. Many French workers expressed mixed feeling about the government’s plan and pointed to the complexity of the pension system. For those who do not fulfil that condition, like many women who interrupted their career to raise their children or those who studied for a long time and started working late, the retirement age would remain unchanged at 67. Those who started to work early, under the age of 20, and workers with major health issues would be allowed early retirement. Protracted strikes met Macron’s last effort to raise the retirement age in 2019.

Protests in major French cities, including Paris, Marseille, Toulouse, Nantes and Nice, brought transport services to a standstill. Eight of the biggest unions had called for a “first day of strikes and protests” against pension reforms unveiled by President Emmanuel Macron’s government. Train lines across France were seeing “severe disruption,” according to French rail authority SNCF. Macron’s proposed pension reforms come as workers in France, as elsewhere, are being squeezed by rising food and energy bills. The French government has said that raising the retirement age is necessary to tackle a pension funding deficit.

Lufthansa has offered to buy an initial minority stake in ITA, Italy's state-owned successor to Alitalia, it said on Wednesday. "This may be the next step in European airline consolidation," said Bernstein analyst Alex Irving, citing Portugal's national airline, TAP, as a prime target. Lufthansa, Air-France KLM (AIRF.PA) and British Airways owner IAG (ICAG.L) are potential buyers, analysts said. "At the same time, however, we closely monitor consolidation in the European airline market." Michael O'Leary, the outspoken CEO of fellow low-cost airline Ryanair (RYA.I), also weighed in with his predictions this week.

☆ Factbox: Unions vs Macron: French pension strikes snarl trains, close schools
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 19 (Reuters) - French workers across the private and public sectors joined nationwide strikes on Thursday, snarling the rail network, closing schools and halting refinery deliveries. Here's where the impact is being felt:RAILWAYS, BUSES, METRONational train services and bus and metro operations in Paris were severely disrupted. The hard-left CGT's refinery federation has announced a further 48-hour strike next week and a 72-hour strike the week after. The Education Ministry said just 35% of high school teachers joined the industrial action, and 42% of primary school teachers. French law compels medics and other critical public services to guarantee a minimum level of cover.

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