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☆ Michael Jordan’s Championship Air Jordans, Sneakerdom’s Most Elite Collection, Head to Sotheby’s Sale
  + stars: | 2023-02-27 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
Sotheby’s auction house will unveil on Tuesday in Dubai what many sneaker collectors consider to be the Holy Grail: the “Dynasty Collection,” or six Nike Air Jordan sneakers that Michael Jordan, His Airness himself, wore during the six NBA championship games the Chicago Bulls won in the 1990s. The price for the collection, on offer in a private sale? Sotheby’s won’t disclose it. But to sneaker collectors, it’s close to priceless: These shoes are like the Mona Lisa, the David and a few of Monet’s Water Lilies rolled into one. Memorabilia experts place their value well into the millions, which would make the collection the most expensive set of shoes ever sold.
☆ New Salesforce Has to Keep Selling
  + stars: | 2023-02-27 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Salesforce put on its annual Dreamforce conference in San Francisco last year and began laying off 8,000 workers in January. Selling is the one thing Salesforce has long excelled at. The company founded by salespeople to make software for salespeople is in the midst of the worst sales slump in its history. Revenue growth for the fiscal fourth quarter ended January is expected to fall below double-digits for the first time since Salesforce went public in mid-2004. This for a company that has averaged year-over-year revenue growth of 25% per quarter even since it broke through the $10 billion annual revenue threshold in early 2018.
☆ Warner Bros. Finds One Cash Flow Story to Rule Them All
  + stars: | 2023-02-24 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Warner Bros. The media giant created from the ashes of AT&T ’s ill-fated foray into Hollywood didn’t have a great fourth quarter. That brought overall revenue for the period down 11% year over year to $11 billion, which also fell short of Wall Street’s estimates. The company saw little action in theaters during the quarter beyond the superhero flick “Black Adam,” which lagged behind expectations. And it didn’t exactly warm up the crowd at home either, adding only 1.1 million subscribers to its digital streaming services that include HBO Max.
☆ A growing group of lawmakers think TikTok is 'digital fentanyl' and want to ban it. Many others remain skeptical.
  + stars: | 2023-02-24 | by ( Bryan Metzger | ) www.businessinsider.com   time to read: +10 min
Some members of Congress have begun pushing to ban TikTok in the US. "I'm a little less enthusiastic about an all-out ban of it," said Republican Sen. Kevin Cramer of North Dakota. "I'm an incrementalist on a lot of things, and I would be on this as well," said Republican Sen. Cynthia Lummis of Wyoming. Last week, the Senate Judiciary Committee held a hearing on social media and the internet's impact on children. Democratic Sen. Mazie Hirono of Hawaii, another committee member, said she's most concerned about how social media platforms are impacting kids.
☆ Nvidia Cracks Wall Street’s AI Code
  + stars: | 2023-02-23 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Shares of Nvidia, led by CEO Jensen Huang, rose 42% since the first of the year through Wednesday. Given all the talk about Nvidia ’s opportunity in ChatGPT’s world, the chip maker is at least highly motivated to show that it isn’t just hot air. Nvidia’s stock price soared 42% since the first of the year through Wednesday—the best performance on the PHLX Semiconductor Index, which was up by a mere 14%. And that was ahead of the company’s fiscal fourth-quarter results, which were widely expected to reflect the same weakness in PC and data center spending that has hit rivals Intel and Advanced Micro Devices .
☆ Intel’s Generosity Wasn’t Paying Dividends
  + stars: | 2023-02-22 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
You can’t say Intel Corp. didn’t try. Ever since the chip maker outlined an ambitious—and very expensive—turnaround plan early last year, questions have swirled about its ability to keep funding its generous dividend. That payout looked even more generous as the company’s stock price melted down further on concerns about its competitive position and the sinking market for PC sales that still drives the bulk of the company’s chip sales. Intel’s dividend yield had reached about 5.6%—ranking it 14th on the S&P 500 and the second highest on the Dow following Verizon, according to FactSet.
☆ ​Microsoft Gets an Early Taste of Search’s Dark Side
  + stars: | 2023-02-21 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Microsoft unveiled a new version of its Bing search engine at an event earlier this month. Actual honeymoons have lasted longer than this. Microsoft took the tech world by storm on Feb. 7, when it revealed a new version of its Bing search engine powered by the ChatGPT technology that was introduced to the public less than three months earlier and had already run up an estimated 100 million unique users. The company boldly claimed it was looking to upend the search market that rival Google has owned for nearly two decades. Much of the tech press that flew to Microsoft’s headquarters near Seattle for the unveiling seemed keen on the idea, with many claiming that search had “changed forever.”
☆ Burberry's Lee stages an ode to British heritage in debut runway show
  + stars: | 2023-02-21 | by ( Suban Abdulla | ) www.reuters.com   time to read: +2 min
LONDON, Feb 20 (Reuters) - Faux fur, oversized coats and hot water bottles dominated Burberry’s (BRBY.L) runway as Daniel Lee presented his vision for the British heritage label at London Fashion Week on Monday. Burberry's mackintosh-style trench coat was re-imagined in a muted khaki with green faux fur lapels. English rose patterned tailoring sat alongside chunky rubber boots with an equestrian twist and cosy square toed shearling and faux fur shoes in the Autumn Winter 2023 collection. Monday's show follows the unveiling of Burberry's new logo: a sleeker elongated typeface and a campaign steeped in "Britishness". Lee previously created a buzz at Italy's Bottega Veneta with pillowy leather clutch handbags and slip-on heels.
☆ Pharrell Is Now a Celebrity Designer. Is He Fashion’s New Norm?
  + stars: | 2023-02-20 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/pharrell-williams-louis-vuitton-designer-celebrities-b0f2fd6c
☆ How Simone Rocha Is Translating Her Feminine Style for Menswear
  + stars: | 2023-02-18 | by ( Jacob Gallagher | Photography Annie Lai For Wsj. Magazine | ) www.wsj.com   time to read: 1 min
Designer Simone Rocha, right, with musician Grian Chatten, who wears a trench coat, T-shirt, pants and shoes from Rocha’s inaugural menswear collection. Simone Rocha trench coat, $2,780, T-shirt, $385, pants, $970, and shoes, $900, SimoneRocha​.com. To Simone Rocha the standout item in her recently launched menswear collection isn’t one of her balloon-sleeved bomber jackets or tricksy zip-front trousers—it’s the oh-so-elemental white cotton dress shirt. “Something like the pure cotton shirt, I think, is such a beautiful starting point” for the collection, says Rocha, 36, an Irish-born fashion designer based in London. “I love going to something that’s really pure.”
☆ Struggling Southampton grab vital 1-0 win at goal-shy Chelsea
  + stars: | 2023-02-18 | by ( Clare Lovell | ) www.reuters.com   time to read: +2 min
LONDON, Feb 18 (Reuters) - A trademark James Ward-Prowse free kick earned basement club Southampton a precious three points at Chelsea in a scrappy 1-0 Premier League win on Saturday and piled more pressure on home coach Graham Potter. Azpilicueta needed nearly 10 minutes of treatment on the pitch in the second half after he received a kick to the head in a goalmouth clash. Chelsea are languishing in 10th place on 31 points from 23 games and are 10 points adrift of the top four. Southampton have now done the double over Chelsea this season after beating them 2-1 in August, a month before Potter took over from the sacked Thomas Tuchel. ($1 = 0.8309 pounds)Reporting by Clare Lovell; Editing by Ken Ferris and Clare FallonOur Standards: The Thomson Reuters Trust Principles.
☆ Paramount Isn’t Buffeted by Streaming Winds
  + stars: | 2023-02-17 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
The series ‘1923’ with Harrison Ford had its premiere on Paramount+ near the end of the recent quarter. Warren Buffett may or may not be a “Yellowstone” fan, but he sure seems to like a good drama. Paramount Global was one of the few stocks Mr. Buffett’s Berkshire Hathaway bought more of during the fourth quarter, according to a filing earlier this week. And that was during a period when the famed long-term investor made some uncharacteristic quick exits. Berkshire sold off 86% of its position in Taiwan Semiconductor Manufacturing just one quarter after first buying into the chip-making titan.
☆ Cisco’s Catch-Up Is Worth Catching
  + stars: | 2023-02-16 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Chuck Robbins is chief executive of Cisco Systems, which projected a jump in revenue growth for the third quarter. Cisco Systems delivered strong results Wednesday for its second quarter ended Jan. 28. Revenue rose nearly 7% year over year to $13.6 billion, while adjusted operating income hit $4.4 billion. But Cisco also projected a jump in revenue growth for the third quarter, while also boosting its forecast for the full fiscal year ending in July. The company now expects full-year growth between 9% and 10.5%, compared with the 4.5%-6.5% range it was projecting just three months ago.
☆ Exclusive: World Bank may loosen loan ratio to free up $4 billion a year
  + stars: | 2023-02-16 | by ( Andrea Shalal | ) www.reuters.com   time to read: +3 min
WASHINGTON, Feb 16 (Reuters) - The World Bank, under pressure to do more to help developing countries cope with climate change, may change its internal lending guidelines to free up $4 billion in lending capacity each year, World Bank President David Malpass told Reuters on Thursday. Lowering the equity-to-lending ratio would free up more resources at a time of mounting global challenges such as the Ukraine war, he said. The board was expected to decide on the issue by the April meetings of the bank and the International Monetary Fund. Malpass announced his resignation from the bank on Wednesday amid mounting pressure from the U.S. Treasury to move faster on reforming the bank. The World Bank had long argued against changing its capital adequacy rules, worried that doing so would undermine its AAA credit ratings, but two of the three main agencies last year said some changes were possible without tarnishing the ratings.
☆ Pharrell, Now in Louis Vuitton Role, Has Long History in Fashion’s Spotlight
  + stars: | 2023-02-15 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
Well into his career as a pop megaproducer, Mr. Williams paired with Japanese fashion icon Nigo in the early 2000s to found the pioneering streetwear label Billionaire Boys Club. The pair also started a skateboarding-inspired shoe brand, Ice Cream. Jun Sato/WireImage for Nowhere Co.
☆ Louis Vuitton Looks to Tap Pharrell Williams as Next Menswear Designer
  + stars: | 2023-02-14 | by ( Jacob Gallagher | Nick Kostov | ) www.wsj.com   time to read: 1 min
Louis Vuitton is in talks to hire Pharrell Williams , the music producer and streetwear entrepreneur, to be its next men’s head designer, according to people familiar with the matter. If appointed, Mr. Williams, 49, would assume the role previously held by Virgil Abloh, who died in November 2021. Mr. Abloh was the first Black American to be appointed to a head design position at a European luxury house. Mr. Williams, a native of Virginia Beach, Va., who rose to prominence in the late ’90s as a part of hip-hop production duo the Neptunes, could be the second.
☆ Louis Vuitton Taps Pharrell Williams as Next Menswear Designer
  + stars: | 2023-02-14 | by ( Jacob Gallagher | Nick Kostov | ) www.wsj.com   time to read: 1 min
Louis Vuitton has hired Pharrell Williams , the music producer and streetwear entrepreneur, to be its creative director of menswear, the company said. Mr. Williams, 49, assumes the role previously held by Virgil Abloh, who died in November 2021. Mr. Abloh was the first Black American to be appointed as the head designer at a European luxury house. Mr. Williams, a native of Virginia Beach, Va., who rose to prominence in the late 1990s as a part of hip-hop production duo the Neptunes, is now the second.
☆ Disney’s Shake-Up Resets the Stage
  + stars: | 2023-02-09 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Even Robert Iger can only do so much in six weeks. He did manage to make Nelson Peltz ‘s job a little more difficult in that time, though—with the help of all those grown-ups in mouse ears. Disney ‘s fiscal first-quarter results reported Wednesday afternoon were the company’s first since Mr. Iger’s return to the corner office. That happened about halfway through the quarter, following a disastrous earnings report and historic stock selloff sealed the fate of his handpicked successor. The most recent results are also the first since activist Trian Fund Management launched a proxy challenge, seeking a board seat for a founding partner, Mr. Peltz.
☆ Microsoft’s Double-Edged Threat to Google
  + stars: | 2023-02-09 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Microsoft may or may not ultimately win the artificial intelligence war, but it sure is winning the news cycles. The software giant said Tuesday that it is incorporating the latest ChatGPT technology into its Bing search engine and Edge web browser. The move brings the conversational AI tool directly into the search experience and furthers Microsoft’s efforts to capitalize on the public hype that has grown up around the chatbot since its surprise release to the public less than three months ago.
☆ Daniel Craig Sold Out Peacoats and Swimsuits as Bond. For ‘Glass Onion,’ It’s Ascots
  + stars: | 2023-02-07 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
In the first “Knives Out” film, drawling detective Benoit Blanc (played by Daniel Craig) peels back the film’s windy whodunit wearing a smart, if just a smidgen peacockish, necktie. By the time he emerges in last year’s sequel, “Glass Onion,” the tie is absent. In its place, Blanc displays an arsenal of neckerchiefs in robin’s-egg blue, yolk yellow and a silky-looking salmon. He arrives on the film’s sandy setting as more of a raffish retiree.
☆ Duty Calls Activision Blizzard Back to the Top
  + stars: | 2023-02-07 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
It probably would have been more helpful to Microsoft if Activision Blizzard had put out another clunker. Alas, that didn’t happen. Fourth-quarter results from Activision late Monday showed that “Call of Duty: Modern Warfare II” revived the blockbuster franchise after the previous year’s serious misfire. That, combined with strength in the company’s “World of Warcraft” and “Overwatch” franchises, and the ever-consistent mobile mainstay “Candy Crush,” drove net bookings to $3.6 billion in the fourth quarter—beating Wall Street’s projections by 12%, according to FactSet. Bookings also surged 43% year over year, making for Activision’s best growth in at least five years for that important metric during the crucial holiday season.
☆ Tech Giants’ Cloud Pains Aren’t Shared Equally
  + stars: | 2023-02-06 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Amazon’s CEO has cited reduced mortgage volume and cryptocurrency trading as factors affecting usage of the company’s AWS cloud service in the recent quarter. The tech slowdown is finally hitting the cloud. Amazon .com, Microsoft Corp. and Google all reported disappointing news for their respective cloud services businesses in their December quarter reports. For Amazon and Google-parent Alphabet Inc., revenue growth for those segments came in below Wall Street’s forecasts. Amazon and Microsoft—the largest players in the category—also flagged deceleration during their respective conference calls while warning of further slowdowns in the current quarter.
☆ Matt Gaetz called for Biden to 'blow up TikTok' after the Air Force shot down the suspected Chinese spy balloon
  + stars: | 2023-02-06 | by ( Cheryl Teh | ) www.businessinsider.com   time to read: +3 min
The US Air Force shot down a suspected Chinese spy balloon on Saturday using an F-22 fighter jet. "It is an intelligence tool for the Chinese communist party, and no spunky dance is worth having the Chinese communist party being able to exploit information from almost every American family," Gaetz told WEAR-TV. In China, the TikTok app is known as Douyin. It opens the door for the Chinese Communist Party to access Americans' personal information, keystrokes, and location through aggressive data harvesting," Hawley wrote on his website. Hawley's bill came after after a bipartisan bill also aiming to ban TikTok was introduced on December 13.
☆ Big Tech Didn’t Quite Clear the Bar
  + stars: | 2023-02-03 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
Shares of Apple, based in Cupertino, Calif., dropped in after-hours trading after its earnings report. Big tech just closed out a rough year. Apple , Amazon.com and Google parent Alphabet Inc. all reported December quarter results Thursday afternoon that showed the effects of the weakening global economy across most of the companies’ diverse business lines. These include online advertising, cloud-computing services, e-commerce and tech gadgets such as smartphones, laptops and smartwatches. These are big businesses, totaling nearly $1.2 trillion in revenue for the three companies in 2022.
☆ Trump and other Republicans call for the US 'to shoot down' a suspected Chinese spy balloon
  + stars: | 2023-02-03 | by ( Brent D. Griffiths | ) www.businessinsider.com   time to read: +4 min
Trump called for the US to "SHOOT DOWN THE BALLOON" as a suspect Chinese spy craft floats above the US. Other Republicans took a slightly more measured approach, arguing that it was "a mistake" not to have shot down the suspected spy balloon but not necessarily saying that it should be done now. Bloomberg reported that Defense Secretary Lloyd Austin advised President Joe Biden not to order the shoot down the balloon due to the risk of falling debris. "It was a mistake to not shoot down that Chinese spy balloon when it was over a sparsely populated area," Rubio wrote on Twitter. "Shoot down the balloon.
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