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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStanChart discusses what's behind China's weak consumer confidenceEric Robertsen, global head of research at Standard Chartered Bank, says "with real estate prices down quite a bit, equity prices down, and China's interest rates all below 3% now, the vehicle, or the avenue, for accumulating savings, I think, looks impaired."
Persons: StanChart, Eric Robertsen Organizations: Standard Chartered Bank
A San Francisco pizzeria appears to operate more than 70 virtual brands on DoorDash selling falafel, pasta, and wings. AdvertisementA pizzeria in San Francisco appears to operate more than 70 different virtual brands on DoorDash. Restaurants sometimes design their own virtual brands, but they can also host other virtual brands. Uber Eats removed 8,000 last spring and summer and DoorDash says it will remove brands that virtual brands quality requirements. Reddit users didn't seem surprised to discover that the Polk Street address operates a network of virtual brands.
Persons: Redditor, , N'Sert, Hoodline, We're, Fresco, DoorDash, Uber, they've, Philly, Polk Organizations: San, Service, DoorDash, Business, Polk, Fresco Inc, Google, Cupid's Locations: San Francisco, Burger, DoorDash
WASHINGTON (AP) — President Joe Biden has invited the top four congressional leaders and other lawmakers to the White House on Wednesday as members have struggled to reach agreement on U.S. aid for the Ukraine war. Republicans have insisted on pairing it with their own demands for securing the U.S. border. Political Cartoons View All 253 ImagesWhite House national security adviser Jake Sullivan and U.S. Secretary of State Antony Blinken met with Ukraine President Volodymyr Zelenskyy at the World Economic Forum’s annual meeting in Davos this week. In an appearance Tuesday following the meeting, Sullivan said he remained confident the Biden administration would come to an agreement on Ukraine aid in the coming weeks. Republicans have demanded that the funding be paired with significant border security changes.
Persons: Joe Biden, Karine Jean, Pierre, Mike Johnson, Hakeem Jeffries, Chuck Schumer, Mitch McConnell, , Biden, , Shalanda Young, Young, Jake Sullivan, Antony Blinken, Volodymyr Zelenskyy, Sullivan, we’ve, ” Sullivan, Børge Brende, , ” Biden, Aamer Madhani, Zeke Miller, Seung Min Kim Organizations: WASHINGTON, White, Republicans, U.S, Democratic, Republican, Ukraine, Management, Pentagon, Capitol Hill, Economic, Russia, Press Locations: Ukraine, Israel, D, Ky, Kyiv, Russia, Davos, U.S, Mexico
FOR ANYONE RAISED in or around Atlanta, Martin Luther King Jr. is first and foremost associated with the city where he was born and raised. We Atlantans take pride in the fact that Dr. King grew up on Auburn Avenue, the downtown thoroughfare cutting through the neighborhood of Sweet Auburn. On my travels throughout the South, I’ve seen traces of King everywhere—on street signs and in civil rights museums—but it’s been many years since I’ve followed his footsteps in my own city. So on a recent winter day, I went looking for the roots of King’s legacy in an integral part of Black Atlanta.
Persons: Martin Luther King Jr, King, it’s, I’ve Organizations: Auburn Locations: Atlanta, Sweet Auburn, Black Atlanta
CNN —The border between Egypt and Gaza “must” be closed, Israeli Prime Minister Benjamin Netanyahu said Saturday – a move that would give Israel complete control over the Palestinian enclave’s access to the world. Egypt has previously warned Israel against military operations in the corridor, according to Egypt’s Ahram Online. Gaza borders Israel on two sides, and its Mediterranean coast and airspace are also under tight Israeli blockades. But aid groups say it is still far from enough and warn of a growing risk of famine for Gaza’s isolated population if Israeli restrictions on imports persist. In three months of siege, more than 23,000 people have been killed in Gaza, according to health authorities in the Hamas-controlled enclave.
Persons: Benjamin Netanyahu, Netanyahu, We’ll, we’ll, ” Netanyahu, Israel’s “, , Israel, Netanyahu’s Organizations: CNN, Egypt’s Ahram, United Nations, United Nations Office, Humanitarian Affairs Locations: Egypt, Gaza, Israel, Rafah, United, Israel’s Kerem Shalom, United States
ORLANDO, Fla. — As rumors swirl over whether Saks Fifth Avenue will acquire Neiman Marcus, Neiman's CEO told CNBC there's "no need" to sell the business, adding it's unlikely to change hands in the next five years. Some people close to the companies have told CNBC a merger between the two is inevitable, and is a matter of when, not if. But Neiman's CEO Geoffroy van Raemdonck said there is currently "no process to sell the company." Eventually, those owners will seek to offload the business, but van Raemdonck said it won't be any time soon. They have not yet received an offer that was large or attractive enough to move the needle, a source familiar with the matter previously told CNBC.
Persons: Neiman Marcus, Geoffroy van Raemdonck, there's, van Raemdonck, Neiman, There's Organizations: Saks, CNBC, Street, Pacific Investment Management, Davidson, Capital Management, Sixth Street Partners, Neiman, CNBC PRO Locations: ORLANDO, Fla, Orlando
Advertising and marketing pros made up 7% of CES' attendees in 2023, per CES. Look for topics like the creator economy and the rise of artificial intelligence to dominate the conversation for advertisers, Kassan added. And Roku, which is closing in on its search for a new ad sales head, is sending a large contingent. The cost advertisers pay for streaming ads is expected to decline as platforms release more inventory, particularly with Amazon unleashing ads on Prime Video. Advertisers also have more options with the fast-growing FASTs (free, ad-supported streaming TV channels), which primarily offer older TV shows and movies.
Persons: David Benioff, Weiss, Alexander Woo, Amy Reinhard, execs, It's, who'll, Patrick Pannett, Michael Kassan, Evan Spiegel, Kassan, — that's, Rita Ferro, NBCUniversal's Mark Marshall, NBCU's Peacock, NBCUniversal, Peacock, NBCU, Tanner Elton, Amy McDevitt, Ludacris, Jon Steinlauf, GroupM Organizations: Netflix, CES, Business, Consumer Technology Association, Madison Avenue, Walmart, Disney, Nexstar Media Group, Nvidia, Paramount, CTA, Tech, NBC, Bravo, Amazon Ads, Warner Bros, Magna, CTV, Hulu, Intelligence, Prime Video Locations: Las Vegas, Peacock
A plan for a "mega" Chick-fil-A store in Tennessee is the latest project to encounter backlash from locals concerned about the fast-food chain's frequently crowded drive-thrus lines. In Collierville, Tennessee, Chick-fil-A has proposed replacing a 23-year-old 3,950-square-foot restaurant with a larger one to accommodate the growing consumer demand. Chain reps are billing the proposed 6,110-square-foot restaurant as the "latest greatest prototype Chick-fil-A has" in its system. Chick-fil-A said the bigger restaurant, proposed for an empty lot about a half-mile down the road, is expected to contain cars within two double drive-thru lanes that wrap the restaurant. It also has plans to build an elevated restaurant that has four drive-thru lanes that flow below the store.
Persons: , Brent Edmiston, Woody Reid, Edmiston, Raymond Descheneaux, Chick, Jennifer Casey Organizations: Service, Business Locations: Tennessee, Collierville , Tennessee, Collierville, City, Poplar, Colliersville, North Carolina
Manhattan townhouses took center stage in December, with several big sales and a prominent listing. The film producer Scott Rudin teamed up with a neighbor for a combined listing at 20-22 Bank Street in the West Village. And on the Upper West Side, the real estate developer Charles Bendit, and his wife, Karyn Bendit, closed on the sale of their townhouse. Other noteworthy December closings included the purchase of a co-op through a trust for Sara Lee Schupf, for whom the Sara Lee dessert business was named. All three transactions were on the Upper East Side.
Persons: Scott Rudin, Graydon Carter, Ronald S, Lauder, Stephen Sondheim, Charles Bendit, Karyn Bendit, Sara Lee Schupf, Sara Lee, Thomas E, Harvey, Erica Jong Organizations: Rockefeller, House, New York City Schools Locations: West, New
Alex Umansky is the man behind the best performing equity mutual fund this year. Baron Fifth Avenue Growth (BFTIX) , with nearly $500 million in assets under management, has rallied more than 58% this year, taking the No.1 spot for a winning stock fund in 2023, according to Morningstar. Umansky, who's been in the industry for 30 years, is the sole portfolio manager for the fund. Umansky's fund seeks to find long-term, durable growth opportunities in the large-cap space. The manager also has a long-term approach to growth investing where he views a stock as a piece of the business.
Persons: Alex Umansky, who's, Morningstar, Umansky Organizations: Baron, Nasdaq, New York University, Nvidia, Tesla
Other Southeast Asian countries such as Brunei, Indonesia, Malaysia, and Vietnam also claim parts of the South China Sea. "The key to developing a healthy, stable, and sustainable military-to-military relationship is ... a correct understanding of China," China's Defense Ministry said in a readout of the Brown-Liu virtual call. China has consistently maintained its claim over self-governed Taiwan and the majority of the South China Sea. The U.S. has documented more than 180 coercive and risky air intercepts against its aircraft in the region between 2021 and 2023, according to its latest China Military Power Report. This includes their bilateral Defense Policy Coordination Talks, Military Maritime Consultative Agreement talks, and opening lines of communication between the leaders of the respective military commands in the South China Sea and the broader Pacific.
Persons: Cope, Charles Brown, Liu Zhenli, Joe Biden, Xi Jinping, General Brown, General Liu, Nancy Pelosi, Brown, Liu, — CNBC's Evelyn Cheng Organizations: Air Force, Clark Air Base, U.S, Joint Chiefs of Staff, Economic Cooperation, Biden, Beijing, U.S ., Defense Ministry, U.S . Defense Department, People's Liberation Army, Maritime, Eurasia Group Locations: Philippines, Mabalacat, Pampanga, Asia, San Francisco, Eurasia, China, Taiwan, Beijing, Singapore, Manila, South China, Brunei, Indonesia, Malaysia, Vietnam, United States, The Hague, U.S, South
Salesforce has moved slowly on AI, RBC Capital Markets managing director Rishi Jaluria told Insider — at least that's what the company's partners and customers told him. One said they were encouraging customers to start first with Einstein, the original AI product Salesforce launched in 2016, before adding new generative-AI services to their bills. The question was the first of many moments during the conference when a Salesforce executive brought up trust and safety when talking about generative AI. Despite that, Salesforce continues to invest in other companies via its venture arm, which includes a $500 million Generative AI fund. Jaluria said that with the exception of Microsoft, he doesn't expect software companies to see meaningful revenue gains from generative AI until at least 2025.
Persons: Salesforce, Rishi Jaluria, , Jaluria, they've, Einstein, Matthew McConaughey, pensively, Patrick Stokes, Salesforce's, Stokes, it's, There's, John Somorjai, McKinsey's, Somorjai, Ellen Thomas Organizations: Company, Business, RBC Capital Markets, World, Salesforce Ventures, Microsoft Locations: New York, ethomas@insider.com
The agreement, known as the global stocktake, was hailed as "historic" by COP28 President Sultan al-Jaber during his closing speech. Samuel Corum | Getty Images News | Getty ImagesU.S. climate envoy John Kerry said Wednesday that the COP28 agreement "sends very strong messages to the world." The fight to end oil, gas and coal must now be taken up at the country level with the United States leading the way. Fossil fuels and climate financeUnder Biden, the U.S. passed the most aggressive climate investment ever taken by Congress, a bill known as the Inflation Reduction Act. Nonetheless, the White House has frequently received sharp criticism over its plans to expand oil and gas production.
Persons: Joe Biden, Cyril Ramaphosa, Joe Biden's, Sultan al, Jaber, Samuel Corum, John Kerry, Kerry, Jean Su, Jason Bordoff, Su, Nikki Reisch, Reisch, Biden, Jennifer Granholm, Brandon Bell Organizations: White, Washington , D.C, Bloomberg, Getty, European Union, Washington Hilton, United, Center for Biological, . Energy, Administration, Russia, Center, Global Energy, Columbia University, CNBC, Center for Biological Diversity, Center for International Environmental, U.S, Biden, Marathon El Locations: South, Washington ,, Connecticut, Washington , DC, United States, China, U.S, Saudi Arabia, Russia, Ukraine, America, Marathon El Paso Refinery, El Paso , Texas, The U.S
Apple's market cap closes above $3 trillion
  + stars: | 2023-12-05 | by ( Kif Leswing | ) www.cnbc.com   time to read: +1 min
Apple CEO Tim Cook greets customers purchasing Apple’s new iPhone 15 during a launch event at the Fifth Avenue Apple Store in New York City on Sept. 22, 2023. Apple's market cap closed at about $3 trillion for the first time since August after its shares climbed 2% to $193.42 per share on Tuesday. Apple's value officially crossed the $3 trillion mark for the first time in June, and briefly touched $3 trillion in December 2022 during intraday trading. Apple stock hit its all-time high July 31 and it remains the most valuable publicly traded U.S. company. In Apple's fiscal 2023, which started in October, Apple reported $383.29 billion in total revenue, down about 3% from the prior year.
Persons: Tim Cook, Apple Organizations: Apple, Fifth, U.S, Apple Watch, CNBC PRO Locations: New York City, buybacks, China
New York CNN —Tucker Carlson’s top producer, who left Fox News along with the far-right host to work on his X show, is accused of sexually assaulting a former colleague in an alleged incident that occurred more than a decade ago. Andrew Delancey, a former Fox News employee, filed a lawsuit against Justin Wells, the former executive producer of “Tucker Carlson Tonight,” accusing him of sexual assault and harassment in 2008 when Delancey moved to New York for a job with Fox News’ affiliate video service. In the lawsuit, Delancey alleges that he was befriended by Wells who told Delancey he could help him “learn the ropes” of the right-wing cable network. At the time Wells was a producer for Greta Van Susteren’s Fox News show. Fox fired Carlson in April and canceled his program during the fallout from the $787 million lawsuit settlement between Fox News and Dominion Voting Systems.
Persons: New York CNN — Tucker Carlson’s, Andrew Delancey, Justin Wells, “ Tucker Carlson, Delancey, Wells, , Greta Van Susteren’s, Wells “, , Alfredo Pelicci, Fox ”, Fox, Harmeet Dhillon, ” Wells “, ” Dhillon, you’ve, ” Tucker Carlson, Pelicci, ” Fox News didn’t, Abby Grossberg, Rogers Ailes, Bill O’Reilly, Carlson Organizations: New, New York CNN, Fox News, New York State, Fox Corporation, Greta Van Susteren’s Fox, Fox, CNN, ” Fox News, Voting Systems Locations: New York, Wells, Tampa
One Gen Z musician is urging people to listen to her music so she doesn't have to work a corporate job. AdvertisementWynns then began promoting her music, seemingly viewing this career path as an avenue to avoiding the 9-to-5 schedule. In early December, Wynns' post went viral on X, after it was reshared by an account with 1.9 million followers called "End Wokeness," which often shares provocative right-wing talking points. "My take is that most of this new generation (not all) lack that hard work ethic we were raised by bc they grew up in the instant gratification era. They don't take pride in hard work.
Persons: Zers, , Zer, Zoe Wynns, Smashwords, Wynns, Gen Zers, Brielle Asero, Rolling Stone, Wynn Organizations: Service, Instagram, University of North, LinkedIn Locations: University of North Carolina, Chapel
The company also projected mid-single-digit sales growth in 2021 and 2022. McDonalds is a multinational fast food chain with thousands or restaurants over the world with headquarters in Chicago Illinois. It is the world's largest fast food restaurant chain famous for the burgers and fries. While the U.S. may seem saturated with McDonald's locations, executives have said that its current footprint doesn't reflect where consumers currently live, including the shift to the South and Southeast. Some McDonald's locations have also tested using artificial intelligence to take drive-thru orders.
Persons: Luke Sharrett, McDonald's, aren't, Chris Kempczinski, Nicolas Economou, remodels, Kempczinski Organizations: McDonald's Corp, Bloomberg, Getty, Wall Street, McDonalds, Nurphoto, Technology Locations: Louisville , Kentucky, U.S, New York City, USA, Chicago Illinois, Manhattan , New York, Texas, Canada, Germany, Australia, France, China
Best Theater of 2023
  + stars: | 2023-12-04 | by ( Jesse Green | Laura Collins-Hughes | Scott Heller | ) www.nytimes.com   time to read: +3 min
Jesse Green’s Best Theater | Unforgettable ExperiencesJESSE GREENYear of the DramedyIf 2023 was a tragedy in the world, on New York stages it was a dramedy year, highlighted not only by serious plays with great jokes, but also by flat-out comedies with dark underpinnings. Its residents included an unemployed man in his 50s, his barely-holding-on mother, a pregnant woman, two refugees — and us. Seated adjacent to the facility’s dingy common room, we became, in the playwright’s own staging, fellow residents. But if the others eyed us like we might steal a precious sandwich, we could blithely leave when the play was over. The New York Theater Workshop audience, too, learned a great deal, as the questions bedeviling so many relationships — the complexity of consent and the meaning of control — played out before us in this perfectly timed hot-button play.
Persons: Jesse Green’s, Alexander Zeldin, , Henrik Ibsen, Jessica Chastain, Nora, Jamie Lloyd’s, Amy Herzog, Chastain, Liliana Padilla, , gorgeously, Rachel Chavkin, Steph Paul Organizations: Armory, Zeldin, bros, New York Locations: New York, York City, Norway, New York City
Tim Rogers, a sought-after New York hairstylist who fashioned gold-standard looks for a long list of notables, including Adele, Yoko Ono and Roger Federer, and commanded gold-standard prices to match, died on Nov. 3 at his home in Gaylordsville, Conn. His father, Ian Rogers, said the death came after a brief illness, which he did not specify. He worked with the renowned hairstylist Garren at his salon at the Henri Bendel department store on Fifth Avenue, and at the Sharon Dorram Color at Sally Hershberger salon on the Upper East Side, before partnering with Ms. Hershberger, another high-profile hairstylist, at a salon on West 26th Street in Manhattan in 2016. “Tim was able to sit with clients and determine exactly what would work best for their style,” Ms. Hershberger wrote in an email. “His overall style was very polished and classic and stylish, with a bit of playfulness — a prototypical British hairstylist, which was unique in New York.”Mr. Rogers became a fixture in the fashion world.
Persons: Tim Rogers, New York hairstylist, Adele, Yoko Ono, Roger Federer, Ian Rogers, Rogers, Garren, Henri Bendel, Sharon Dorram, Sally Hershberger, Hershberger, “ Tim, Ms, , ” Mr, Annie Leibovitz, Norman Jean Roy, Patrick Demarchelier, Kate Moss, Linda Evangelista, Diane Sawyer, Carey Mulligan, Mary, Kate, Ashley Olsen Organizations: New York, Vogue Locations: New, Gaylordsville, Conn, Britain, New York, Manhattan, British
Jennings sued the streetcar company and was represented in court by Chester Arthur, the future US president. 10 years later, all of New York City's public transit systems were desegregated. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Then, African Americans were only allowed on trolleys with signs reading, "Colored People Allowed in This Train." Then, after a decade of continued activism and legal battles, all of New York City's public transit services were fully desegregated in 1865.
Persons: Elizabeth Jennings, Jennings, Chester Arthur, , Rosa Parks, Thomas L, Arthur Organizations: Service, New York City, First Colored American Congregational Church, New York Tribune, New Yorkers, Third Avenue Railroad Company, New York Daily Tribune, Avenue Railroad Locations: New York, Montgomery , Alabama, Lower Manhattan
Under an elevated subway track in Queens, Victor José Hernández was whipping up the pepitos that he had perfected at a street cart in Caracas, Venezuela. Just steps away, an Ecuadorean restaurant now displays a big Venezuelan flag and offers karaoke with Venezuelan love songs. And the line for arepas and cachapas (sweet corn cakes) spills out the door of a Venezuelan cafe. Though New York City was built on immigrant neighborhoods — Chinatown, Curry Hill, Little Italy and Little Haiti, among many others — it has never had a Venezuelan neighborhood. Historically, the city’s Venezuelan population was tiny and overshadowed by much larger Hispanic groups, including Puerto Ricans and Dominicans, immigration experts said.
Persons: Victor José Hernández Organizations: New, Puerto Ricans Locations: Queens, Caracas, Venezuela, Roosevelt, Jackson Heights, Elmhurst, Corona, Venezuelan, Little Venezuela, New York City, Curry Hill, Little Italy, Little Haiti
A merger of Saks and Neiman could help the chains negotiate better terms with suppliers and allow them to strip out duplicate costs. Photo: ed jones/Agence France-Presse/Getty ImagesSaks Fifth Avenue wants to buy rival Neiman Marcus. But the two luxury retailers can’t agree on the terms of a marriage. This week, Neiman rejected Saks’s most recent takeover offer, which valued the upscale chain at close to $3 billion, according to people familiar with the situation. Neiman objected to the deal’s structure, a significant portion of which wasn’t in cash, some of the people said.
Persons: Neiman, Neiman Marcus Organizations: Saks, Agence France
A merger of Saks and Neiman could help the chains negotiate better terms with suppliers and allow them to strip out duplicate costs. Photo: ed jones/Agence France-Presse/Getty ImagesSaks Fifth Avenue wants to buy rival Neiman Marcus. But the two luxury retailers can’t agree on the terms of a marriage. This week, Neiman rejected Saks’s most recent takeover offer, which valued the upscale chain at close to $3 billion, according to people familiar with the situation. Neiman objected to the deal’s structure, a significant portion of which wasn’t in cash, some of the people said.
Persons: Neiman, Neiman Marcus Organizations: Saks, Agence France
Should Trump Believe the Polls?
  + stars: | 2023-12-01 | by ( Lauren Camera | ) www.usnews.com   time to read: +11 min
Former President Donald Trump is a polls guy. He’s currently languishing in fourth place, according to polls, behind Trump, Florida Gov. “In 2016, we experienced the phenomenon of the silent Trump voter, those who were secretly for Trump but feared being ostracized if they said so publicly,” he wrote. “A majority of the party is Maybe Trump,” Ayres says. A separate New Hampshire primary poll from Monmouth University and The Washington Post taken Nov. 9-14 shows similar results.
Persons: Donald Trump, Hillary Clinton, Trump, Bradley, , Tom Bradley, , Adam Geller, , MAGA, Chris Christie’s, Christie, ” Christie, Mitt Romney, Mike Huckabee, Newt Gingrich, Sen, Rick Santorum, Ben Carson, Texas Sen, Ted Cruz, hasn’t, He’s, Ron DeSantis, Nikki Haley, they’re, South Carolina Sen, Tim Scott, Vivek Ramaswamy, Mark McKinnon, George W, Bush, John McCain, he’d, Whit Ayres, ” Ayres, Joe Biden, Haley, Ramaswamy, Civiqs, DeSantis, Jamie Dimon, Ayres, Jesus Organizations: White, Los Angeles, GOP, Capitol, National Research Inc, Trump, New, New Jersey Gov, Granite State Republicans, Donald Trump View, Arkansas Gov, MAGA Republican, Trump , Florida Gov, South Carolina Gov, South Carolina, Republican, North Star Opinion Research, Republican Party, University of New Hampshire Survey Center, Monmouth University, The Washington, Koch Locations: California, , New Hampshire, New Jersey, Iowa, Trump, Texas, Trump , Florida, Georgia, Hampshire, Tuscaloosa , Alabama, Florida
Here's what happens to his staff, and when a special election could take place. A February special election on Long Island — with Democrats likely favored to winUnder New York state law, Gov. Kathy Hochul will have 10 days to call a special election, which must take place between 70 and 80 days after that. That means a special election will likely occur sometime in February 2024. If a special election takes place, nominees would be chosen by party committee members, rather than voters.
Persons: George Santos, , Santos, aren't, he's, Daniel Schuman, Bill Clark, hasn't, Kathy Hochul, Joe Biden Organizations: Capitol, Service, Congress, New York Republican, Representatives, Popvox Foundation, Getty, Business, New York Times, US Association, Former, New Locations: Long, New York
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