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☆ Bipartisan Senate bill would push ticket sellers to disclose fees upfront
▼ + stars: | 2023-04-26 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

You also have the option of purchasing live tickets that can be printed directly from your computer or wireless device. WASHINGTON — Swifties, the BeyHive and Cure fans may have a reason to rejoice: Senators on Wednesday are set to introduce a bipartisan bill targeting hidden ticket fees for live events. Dubbed the Transparency in Charges for Key Events Ticketing (TICKET) Act, the measure would require ticketing merchants to disclose upfront full ticket prices, including fees, for concerts, sporting events and other large gatherings. Ticket fees can comprise 21% to as much as 58% of the total cost of tickets, according to a statement from the committee. The bill aims to promote competition "by delivering ticket fee and speculative ticket transparency for the benefit of all consumers," the committee said.

☆ A small-cap fund manager who's beaten 90% of his peers over the last year shares 5 stocks he's betting on now — and how he weeds out downside risk in a volatile area of the market
▼ + stars: | 2023-04-25 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Investors look to small-cap stocks for big upside potential. 5 stocks Harden is betting on nowHarden shared five holdings that he's put through this process and are among those he's most bullish on right now. Next, Harden listed two regional banks: Metropolitan Bank (MCB) and Merchants Bancorp (MBIN). The iShares US Regional Banks ETF (IAT) is down 26% year-to-date. "I don't think there's any money in having a calendar," he said.

☆ Fintech firm Klarna overhauls its app with a TikTok-like discovery feed as A.I. hype swirls
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

According to David Sandstrom, Klarna's chief marketing officer, the firm took inspiration from Chinese tech platforms, which he said have mastered the art of algorithm driven-shopping. The Klarna app has been redesigned to tailor product recommendations to users based on their shopping habits using artificial intelligence. Klarna and other buy now, pay later products proved popular during the onset of the Covid-19 pandemic. Meanwhile, buy now, pay later has come under scrutiny from regulators because of fears that it is pushing some consumers, particularly younger people, into arrears. In the U.K., the government has proposed new rules aimed at adding some friction to the process of applying for a buy now, pay later loan.

The prospective class action complaint, filed in 2021 by two members of the annual paid subscription service Amazon Prime, alleged Amazon was unlawfully "tying" the online sale of third-party products to the use of the company's "Fulfillment by Amazon" program. The lawsuit said Amazon's alleged anticompetitive fulfillment practices had harmed "hundreds of millions of its loyal customers." Amazon's attorneys argued that fulfillment services are sold not to consumers who buy products but to third-party businesses that are selling goods on the company's platform. The antitrust case against Amazon was among private and state actions alleging violations of competition law. The case is Angela Hogan et al v. Amazon.com Inc, U.S. District Court, Western District of Washington, No.

☆ Stampede in Yemen’s capital kills at least 78, official says
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: +3 min

That sparked a panic, and people, including many women and children, began stampeding, they said. Motaher al-Marouni, a senior health official in Sanaa, gave the death toll of 78 and said at least 13 were seriously hurt, according the rebels' Al-Masirah satellite TV channel. Hamdan Bagheri, deputy director of the al-Thowra Hospital in Sanaa, said in televised comments that the tragedy took place around 8.20 p.m. and the facility received at least 73 injured people. The rebels quickly sealed off the school where the event was held and barred people, including journalists, from approaching. Yemen's capital has been under the control of the Iranian-backed Houthis since they descended from their northern stronghold in 2014 and removed the internationally recognized government.

☆ Stampede in Yemen Kills 78 People Gathering to Receive Holiday Donations
▼ + stars: | 2023-04-20 | by ( Vivian Nereim | ) www.nytimes.com time to read: +1 min

At least 78 people died in a stampede in Yemen while gathering to receive charitable donations from local merchants ahead of a major Islamic holiday, a sign of how desperate many Yemenis have become after eight years of a civil war that has deepened poverty and hunger in the Arab world’s poorest country. The Houthis’ health ministry said on Thursday that 77 people were injured in the stampede, with 13 of them in critical condition. A Houthi interior ministry spokesman, Brig. However, two witnesses told The Associated Press that before the stampede, armed Houthi militia members had fired guns into the air, hitting an electrical wire and causing the crowd to panic. The crowd had gathered in hope of receiving the equivalent of about $10 each from a charity funded by local businessmen, the report said.

☆ Stampede in Yemen’s Capital Kills at Least 78 Seeking Food Aid, Houthis Say
▼ + stars: | 2023-04-19 | by ( The Associated Press | ) www.nytimes.com time to read: 1 min

SANA, Yemen — A stampede at an event to distribute financial aid in the Yemeni capital of Sana late on Wednesday left at least 78 people dead and dozens of others injured, a Houthi official said. The crush took place at a school in the Old City in the center of Sana, when hundreds of poor people gathered at an event organized by merchants, according to the Houthi-run Interior Ministry. The ministry’s spokesman, Brig. Abdel-Khaleq al-Aghri, blamed the disaster on the “random distribution” of funds without coordination with the local authorities.

☆ At least 78 people killed in stampede in Yemeni capital - Houthi-run TV
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

April 20 (Reuters) - At least 78 people were killed in a stampede in the Yemeni capital Sanaa, the official media of the Houthi movement reported early on Thursday, with several more critically injured. Al Masirah TV, the main television news outlet run by Yemen's Iran-aligned Houthi movement, said that in addition to the dead several people were injured, including 13 in a critical situation, citing the director of health in Sanaa. The Houthi-controlled Ministry of Interior's spokesman said in a statement that the stampede took place during the distribution of charitable donations by merchants during the final days of the Muslim holy month of Ramadan. The interior ministry also said in a separate statement that the two merchants responsible for organising the donation event had been detained and an investigation was underway. Reporting by Hatem Maher Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ At least 78 killed in stampede in Yemen
▼ + stars: | 2023-04-19 | by ( Mohammed Tawfeeq | ) edition.cnn.com time to read: +1 min

CNN —Dozens of people were killed in a crowd surge in Sanaa, the capital of Yemen, on Wednesday night, the Houthi-run Interior Ministry said in a statement. The director of the Houthi-run Health office in Sanaa, Mutahar al-Marouni, told the Houthi-run Al-Masirah news agency that at least 78 people were killed, and dozens were injured. A view of houses in the old city of Sanaa, Yemen on June 15, 2022. “The dead and injured people were transferred to hospitals, and two merchants in charge of the matter were arrested,” the statement added. During this time of the month, people give alms known as Zakat al-Fitr to the needy.

☆ Al-Balad: Where Saudi Arabia’s tourism industry began
▼ + stars: | 2023-04-18 | by ( Lilit Marcus | ) edition.cnn.com time to read: +7 min

But the beating heart of this city, Al-Balad, is more than a thousand years old, and it has been immaculately preserved as a reminder of Saudi Arabia’s history – specifically, Jeddah’s role as a key point of entry for religious pilgrims. He devoted city resources to the remaining Al Balad buildings and prevented some from being torn down, Parry says. The Al-Balad area was inscribed to the UNESCO World Heritage list in 2014 as Historic Jeddah, the Gate to Mecca. This pale-blue color is one of the most popular for doors and windows in the old city. Over two nights, Al-Balad’s old buildings were lit up while acts like Busta Rhymes, Xzibit and Lupe Fiasco performed alongside some of the Arab world’s biggest musicians.

☆ Walmart’s US chief marketing officer stepping down as retailer warns of tough year
▼ + stars: | 2023-04-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. Its strong holiday sales were fueled by groceries. “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business.

☆ China's first-quarter GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4% - Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. On a quarterly basis, the economy is forecast to grow 2.2% in January-March, compared with no change in October-December, the poll showed. “We need to maintain the stability and continuity of macro policies to consolidate the economic recovery,” said Wen Bin, chief economist at China Minsheng Bank.

☆ China's Q1 GDP growth seen rebounding to 4.0%, 2023 rate seen at 5.4%: Reuters poll
▼ + stars: | 2023-04-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

That would be the fastest growth since the first quarter of last year. For 2023, growth was expected to pick up to 5.4%, the poll showed, from 3.0% last year - one of its worst performances in nearly half a century due to strict COVID-19 curbs. The government has set a modest target for economic growth of around 5% for this year, after badly missing the 2022 goal. The government is due to release first quarter GDP data, along with March activity data, at 0200 GMT on April 18. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.

☆ Google incorrectly flagged some retailers' products as counterfeit, and it cost one company $150,000 in lost revenue
▼ + stars: | 2023-04-13 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Google incorrectly flagged two retailers for selling counterfeit goods, and shut off their ads. In recent weeks, two agencies that manage Google ads for retailers say that their clients' accounts were incorrectly flagged as selling counterfeit goods, which then shuts off the ability for retailers to run ads. Both agencies said that the issue started when their retail clients' Google Merchant Center accounts were suspended because they were erroneously flagged as selling counterfeit goods. Google Merchant Center is a key sales driver because it helps consumers discover products. However, the issue underscores the risk online merchants face when they tie their product listings to their Google ads.

☆ Inside the Online Market for Overseas Abortion Pills
▼ + stars: | 2023-04-13 | by ( Allison Mccann | ) www.nytimes.com time to read: +17 min

A selection of abortion pill kits available online from overseas sellers. A chart of the estimated number of abortion pills provided outside the U.S. health care system from July through December 2022. For most patients, the cost of the service remains the most important factor in deciding where to get pills online. A chart showing the minimum, average and maximum cost of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers. A chart showing the minimum, average and maximum delivery speeds of abortion pills from overseas providers: Aid Access, Las Libres and for-profit online sellers.

☆ Amazon CEO Andy Jassy says he's confident he can get costs under control in shareholder letter
▼ + stars: | 2023-04-13 | by ( Annie Palmer | ) www.cnbc.com time to read: +38 min

Further, as machine learning adoption has continued to accelerate, customers have yearned for lower-cost GPUs (the chips most commonly used for machine learning). While some areas of the economy have struggled over the past few years, Amazon Business has thrived. Some people have never heard of Amazon Business, but, our business customers love it. For years, Amazon customers had asked us when we'd offer them an online pharmacy as their frustrations mounted with current providers. More recently, a newer form of machine learning, called Generative AI, has burst onto the scene and promises to significantly accelerate machine learning adoption.

☆ Amazon CEO Andy Jassy says his letter to shareholders follows one of the toughest economic years in recent memory. Read it in full.
▼ + stars: | 2023-04-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +38 min

☆ Meta's WhatsApp rolls out business payment tool in Brazil
▼ + stars: | 2023-04-11 | by ( Andre Romani | ) www.reuters.com time to read: +2 min

SAO PAULO, April 11 (Reuters) - Meta Platforms (META.O) on Tuesday began rolling out its payments tool to small and medium-sized firms through its WhatsApp messaging platform in Brazil, part of Meta's strategy to use the Brazilian market as a key test space for business messaging. The development of business messaging has become all the more urgent as Meta's core advertising business has stalled. The tool will initially be available for some merchants that use WhatsApp Business. While Brazil is the first country to have the service launched for small businesses using the free version of WhatsApp Business, in India, WhatsApp's largest market, users can make payments to businesses that use the application's paid API. WhatsApp users in Brazil have been able to make payments between users through the app since 2021, and last year, Meta launched a commercial directory for WhatsApp in Brazil, allowing users find companies with business messaging accounts.

☆ Starbucks new CEO wants senior leaders to work in stores. Every leader should follow suit.
▼ + stars: | 2023-04-10 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +7 min

Former Walmart CEO Greg Foran used to visit stores every week to observe factors like customer service, inventory levels, in-stock levels, and assortment. Fewer retail CEOs got their start working in storesLowe's CEO Marvin Ellison started his retail career as a Target security guard. Others went through management-training programs operated by department stores. As department stores started facing stiff competition from specialty stores, they scrambled to cut costs. These days, finding a qualified retail CEO seems like one of the hardest jobs to fill, with many companies looking outside the retail industry.

☆ TikTok is subsidizing shipping and hawking 30% discounts as it races to onboard US sellers for its social-shopping service
▼ + stars: | 2023-04-10 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Sellers told Insider that TikTok Shop is driving real sales, but still has some bugs to work out. Thus, when TikTok emailed her in March to join the US rollout of its e-commerce initiative TikTok Shop, she decided to give it a shot. Unlike with some other e-commerce platforms such as Amazon, TikTok sellers in the US need to handle their own order shipping and fulfillment. TikTok assists in generating shipping labels for new orders, the sellers told Insider. FancyCube is leaning heavily into working with influencers on TikTok Shop, sending them free products and offering them between 10% and 15% commission when their TikTok videos convert into makeup sales.

☆ KBW downgrades this payments stock with 'small risks starting to add up'
▼ + stars: | 2023-04-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A growing list of headwinds is beginning to signal worry for Jack Dorsey's Block , according to KBW. The firm downgraded Block to market perform from outperform, citing pressure from small risks that are piling up. KBW also lowered its price target on Block shares to $75 per share from $90. "We think SQ's risk/reward profile has become less attractive as multiple risks are starting to add up," KBW's Steven Kwok wrote. "This could pressure volume growth, take rates, and ultimately profitability," Kwok said.

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☆ Sellers testing TikTok's shopping program say it's offering big discounts and driving sales as the company tries to jumpstart its US e-commerce business
▼ + stars: | 2023-04-06 | by ( Dan Whateley | ) www.businessinsider.com time to read: +5 min

Sellers told Insider that TikTok Shop is driving real sales, but still has some bugs to work out. Thus, when TikTok emailed her in March to join the US rollout of its e-commerce initiative TikTok Shop, she decided to give it a shot. "We're seeing a ton of sales through TikTok Shop," Davison told Insider. Unlike with some other e-commerce platforms such as Amazon, TikTok sellers in the US need to handle their own order shipping and fulfillment. Because the program is still in its testing phase, sellers told Insider they've encountered a few hiccups.

Citi issues several credit cards for American Airlines, including the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®. Citi AAdvantage Platinum Select Review: Is It the Best Airline Credit Card for You? How to earn miles with the Citi AAdvantage Platinum Select cardThe Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is a good choice for American Airlines purchases, as well as other everyday spending in popular categories. What credit score do you need for the Citi AAdvantage Platinum Select card? Methodology: How we reviewed the Citi AAdvantage Platinum SelectInsider's experts compared the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® to other American Airlines and competitor airline credit cards.

☆ Italy, digital payment firms and retailers at odds over deal to cut fees
▼ + stars: | 2023-04-05 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

The cost of digital payments has taken centre stage in Italy, with the right-wing administration led by nationalist Prime Minister Giorgia Meloni trying to deal with complaints by retailers about the fees. Rome wants the parties to agree to reduce fees on electronic transactions worth up to 30 euros ($32.87) for businesses with annual revenues of up to 400,000 euros. A meeting between all involved parties is now scheduled for April 20, a second source said confirming the deal is still elusive. Meloni promoted the talks to cut fees after her government in December backtracked on a proposal to cut sanctions against shopkeepers refusing to accept digital payments, following criticism from the European Commission. Tax evasion in Italy is estimated by the Treasury at around 90 billion euros, down from 106 billion euros of 2015.

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