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☆ Where are Gen Z's tech founders?
▼ + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +10 min

So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.

Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley

The Rio Tinto Ltd. booth on the opening day of the Investing in African Mining Indaba in Cape Town, South Africa, on Monday, Feb. 6, 2023. The world's second-largest miner Rio Tinto said Wednesday it will acquire U.S. lithium producer Arcadium for $6.7 billion. Rio Tinto said the deal would be an all-cash transaction for $5.85 per share, representing a premium of 90% to Arcadium's Oct. 4 closing price of $3.08 per share. If the deal goes through, Rio Tinto will become one of the largest suppliers of lithium, trailing only after Albemarle and SQM. Rio Tinto CEO Jakob Stausholm said the purchase is a "significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy transition."

Persons: Rio, Arcadium, Rio Tinto, Jakob Stausholm Organizations: Rio Tinto Ltd, Rio Tinto, Rio Locations: Cape Town , South Africa, Rio, Rio Tinto's London, Albemarle, SQM, Rio Tinto's

☆ Inside Substack's emerging IRL event strategy as the platform expands beyond its newsletter roots
▼ + stars: | 2024-10-09 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +9 min

We spoke with Sophia Efthimiatou and Matt Starr, Substack's duo paving the platform's IRL strategy. hosted "Hate Read Live," where several contributors behind Cai's "Hate Reads" newsletter read excerpts at a bar in New York. September: Casey Lewis hosted "Debate Club," the first iteration of Substack's "Stacked Debate" series, in a gymnasium featuring several Substack writers. hosted "Debate Club," the first iteration of Substack's "Stacked Debate" series, in a gymnasium featuring several Substack writers. Substack's events are a playground for promoting these tools.

Persons: Substack, Sophia Efthimiatou, Matt Starr, —, I'm, Casey Lewis —, Lewis, John Paul Brammer, Kareem Rahma, Nolita Dirtbag, Randa Sakallah, Casey Lewis, Anna Maria Lopez, Hunter Harris, Rayne Fisher, Efthimiatou, Starr, Emma Trim, Delia Cai, Cai's, Tavi Gevinson, Mary Gaitskill, Quann, Emilia Petrarca, Jessica DeFino, Fisher, Emily Sundberg, Substack's, Hamish McKenzie, McKenzie, podcaster Dwarkesh Patel Organizations: IRL, Service, Press, Substack, Business, The New York Times, Hotel Chelsea, New York, Democratic, Convention Locations: New York, New York City, Substack, New, Montauk , New York, San Francisco, inboxes

Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.

Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's

☆ Stock market today: US stocks trade mixed with Fed minutes and rate outlook in focus
▼ + stars: | 2024-10-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

US stocks traded mixed as investors looked ahead to the central bank's meeting minutes. Traders are anticipating a quarter-point rate cut in November. Monetary policy is in focus after an unexpectedly hot job report in September, fueling doubt over whether the Fed will issue another jumbo rate cut this year. "The tone of the Fed minutes should not change expectations of further rate cuts—the Fed is still scrambling to catch up with inflation slowing in the US, and started cutting rates late. AdvertisementAccording to Pantheon Macroeconomics, the Fed is more likely to begin cutting rates in 25-basis-point increments rather than issuing another 50-basis-point rate cut.

Persons: —, Paul Donovan Organizations: Service, Reserve, UBS Global Wealth Management, Pantheon, Fed, US Department of Justice

Grabango, a venture-backed startup that was vying to take on Amazon in cashierless checkout technology, is shutting down after it was unable to raise enough money to stay afloat. Based in Berkeley, California, Grabango was seen as one of the primary rivals to Amazon's cashierless checkout offering, called Just Walk Out. Amazon in April pulled its cashierless checkout technology from its U.S. Fresh stores and Whole Foods supermarkets. Glaser said Grabango eschewed shelf sensors in favor of computer vision which put it on a path for "widespread adoption." WATCH: Amazon is making a big bet on selling its cashierless tech to outsiders

Persons: Grabango, Will Glaser, Grabango's, Peter Thiel's, Glaser, Axios, CNBC's Ari Levy Organizations: CNBC, longtime, LinkedIn, Commerce Ventures, Fund, Unilever, Honeywell, Aldi, Amazon, Foods Locations: U.S, Berkeley , California

☆ Is it time to invest in China? Two pros share their views
▼ + stars: | 2024-10-09 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

As investors consider whether — and how — to invest in China, two experts share their views on the market right now. "We believe the scale and focus of these measures, particularly the targeted liquidity injection, address the critical issue of insufficient domestic capital flows into China's stock market. 'China is no longer cheap' Lorraine Tan, director of Asia's equity research at Morningstar, is more cautious looking ahead. "At this point in time, China markets are no longer cheap. Stocks on her radar include "higher quality, moaty names," such as fast-food restaurant chain Yum China Holdings and property developer China Resources Land .

Persons: Jingwei Chen, —, Europe —, Chen, Lorraine Tan, Tan, Stocks, — CNBC's Lim Hui Jie Organizations: National, Reform Commission, CSI, Wall, Wrise Private Singapore, CNBC Pro, Companies, BYD, Tencent Holdings, Morningstar, China Holdings, China Resources Locations: China, Asia, East, Europe, Hong Kong

☆ Bridgit Mendler's space startup Northwood passes first test, connecting prototype antenna to Planet satellites
▼ + stars: | 2024-10-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

The company's prototype antenna "Frankie" during testing in North Dakota on Oct. 5, 2024. North Dakota testingSetting up the company's prototype antenna in the early hours of Oct. 2, 2024. Northwood SpaceLast week the Northwood team was out in remote Maddock, North Dakota, to test its prototype antenna — "fondly dubbed Frankie," Mendler notes — by connecting to a Planet satellite in orbit. We're proud to be a part of this breakthrough in ground station technology," Planet senior director of global ground networks Joseph Breu said in a statement to CNBC. Northwood Space

Persons: Griffin, Bridgit Mendler, Mendler, Northwood, Frankie, Joseph Breu Organizations: Software, Northwood, CNBC, Service, Northwood Space Locations: Northwood, Segundo , California, North Dakota, Maddock , North Dakota

☆ Jim Cramer says Google would be 'a shell of its former self' if DOJ forces a breakup
▼ + stars: | 2024-10-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer on Wednesday criticized the Department of Justice's potential remedies in the Google search-monopoly case, arguing that, if they were implemented, the California tech giant would be "a shell of its former self." In early August, Judge Amit Mehta ruled that Google used illegal practices to maintain a monopoly in the internet search market. "This is devastating," Cramer said Wednesday on "Squawk on the Street," reacting to the DOJ filing. The stock has lagged the S & P 500 considerably since the monopoly ruling was handed down Aug. 5. Including Wednesday's intraday move, shares are down more than 3.5% compared with a nearly 8% gain for the S & P 500.

Persons: CNBC's Jim Cramer, Amit Mehta, Cramer, Lee, Anne Mulholland, It's Organizations: of, Google, U.S ., Trust, CNBC, Justice Department, Wall, Greyhound, Club Locations: California, U.S

☆ HSBC exec says there's a lot of AI 'success theater' happening in finance
▼ + stars: | 2024-10-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Jaap Arriens | NurPhoto via Getty ImagesLONDON — Increasingly many financial services firms are touting the benefits of artificial intelligence when it comes to boosting productivity and overall operational efficiency. Despite bold statements, a lot of companies are failing to produce tangible results, according to Edward J Achtner, the head of generative AI for U.K. banking giant HSBC . One example he gave was a partnership that HSBC has in place with internet search titan Google on the use of AI technology anti-money laundering and fraud mitigation. Boteju stressed that Lloyds is "proceeding with caution" when it comes to exposing the bank's customers to generative AI tools. Generative AI, on the other hand, is a more nascent technology, according to the Lloyds exec.

Persons: Jaap Arriens, Edward J Achtner, Achtner, Ranil Boteju —, Nathalie Oestmann, ChatGPT, Klarna, headcount, Sebastian Siemiatkowski, Siemiatkowski, Oestmann, Boteju, Banks, we've, Bahadir Yilmaz, Yilmaz, It's, Johan Tjarnberg Organizations: NurPhoto, Getty, HSBC, Leadership, Lloyds Banking Group, NV Ltd, Royal Albert Hall, Microsoft, Google, BBC, NV, CNBC, Lloyds, ING Locations: London

☆ Judge's ruling against Google in Epic Games case highlights a shift in antitrust law
▼ + stars: | 2024-10-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

A law professor said the ruling shows how antitrust law is used against Big Tech companies. Management and law experts told Business Insider the ruling highlights how antitrust law is being used against Big Tech companies — and could cost Google billions of dollars in lost revenue. Historically, he said, liberal judges tended to favor antitrust law more than conservative ones. When Epic Games' case against Apple was similarly appealed, the Supreme Court denied requests to hear it, leaving Apple with its partial victory. AdvertisementRepresentatives for Epic Games directed Business Insider to a public thread about the Google ruling, posted on X by the company's CEO, Tim Sweeney.

Persons: —, James Donato's, Peter Cohan, Cohan, Apple, Yvonne Gonzalez Rogers, Eric Chaffee, Chaffee, Alden Abbott, Abbott, Tim Sweeney, Sweeney Organizations: Google, Apple, Big Tech, Service, Management, Epic Games, Northern, Northern District of, Babson College, Case Western Reserve University School of Law, Epic, DOJ, Business, Mercatus Center Locations: California, Northern District, Northern District of California, United States

☆ I drove Chevy's $57,000 Blazer EV. From giant screens to great maps, these 18 features make the high-tech SUV worth it.
▼ + stars: | 2024-10-09 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

Chevrolet launched the Blazer EV in late 2023. I recently drove the $57,000 SUV in RS trim with all-wheel-drive. AdvertisementUpon its launch in late 2023, the Chevrolet Blazer EV was one of the first mainstream offerings built on GM's EV platform shared by the Cadillac Lyriq and GMC Hummer EV. I recently reviewed a 2024 Chevrolet Blazer EV RS AWD, which starts at $53,200, with an as-tested price of $57,215. I was impressed by the Blazer EV's aggressive styling, roomy cabin, smooth ride, and massive high-definition touchscreen.

Persons: — Organizations: Chevrolet, Blazer, Service, Cadillac, GMC Hummer

☆ The DOJ is considering asking judge to break up Google
▼ + stars: | 2024-10-09 | by ( Jordan Hart | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Prosecutors proposed remedies after Google antitrust violation ruling by a federal judge. Judge Amit Mehta previously ruled Google violated antitrust laws by securing default search deals. AdvertisementProsecutors said they're considering a requirement that Google share the data that powers a big chunk of its business — the inputs and models for Google search and search results — through an application programming interface. Another proposal would prevent the company from using its other products, such as Chrome and Android, to promote Google search over competitors. Google previously said that the company plans to appeal the ruling, which could delay the judge from imposing any remedies filed by the prosecution.

Persons: Amit Mehta, —, Prosecutors, doled, Evelyn Mitchell, Wolf, Mehta, Dan Ives Organizations: Service, Google, Big Tech, Apple, Prosecutors, Companies, Microsoft, Wedbush Securities, Department of Justice

☆ Elon Musk leaps into action as a Trump surrogate — but it's unclear how he'll land: From the Politics Desk
▼ + stars: | 2024-10-08 | by ( The Politics Desk | ) www.nbcnews.com time to read: +8 min

In today’s edition, politics reporter Allan Smith looks at how Elon Musk could help (or hurt) Donald Trump on the campaign trail. Plus, national political correspondent Steve Kornacki breaks down the different paths to victory Kamala Harris and Trump are attempting to chart in Pennsylvania. The disparate images helped paint a picture of both the benefits and the detriments to having Musk in Trump’s corner. Musk’s appearance at Trump’s Pennsylvania rally over the weekend was the culmination of a yearslong rightward drift for the eccentric billionaire, expedited by his purchase of Twitter in 2022. After his appearance in western Pennsylvania, Musk started to offer people $47 if they successfully get a swing-state voter to sign onto a petition backing the First and Second Amendments.

Persons: Allan Smith, Elon, Donald Trump, Steve Kornacki, Kamala Harris, Trump, Elon Musk, Donald Trump’s, cringeworthy, he’s, Hurricane Helene, Musk, MAGA ”, ”, “, Dasha Burns, asha, ake, —, ince, linton, hite, ittsburgh Organizations: NBC, White House, Capitol, Secret Service, Twitter, Trump, America PAC, Politico, ince, ust Locations: Pennsylvania, Butler, Pa, Trump’s, osh

☆ Some stocks could see further downside as investors sell to save on taxes, Morgan Stanley found
▼ + stars: | 2024-10-08 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Some of the biggest losing stocks in 2024 could be in for even steeper declines as investors jettison them to save on taxes, according to Morgan Stanley. Such moves, known as tax loss harvesting, helps investors trim their tax bills the next year. Boeing pressure Beleaguered aerospace company Boeing was also called out by Morgan Stanley as likely to see pressure tied to tax loss selling. Morgan Stanley also called out oil service giant Halliburton . Other names on Morgan Stanley's list include Chord Energy , Simply Good Foods and timeshare operator Hilton Grand Vacations .

Persons: Morgan Stanley, Michelle Weaver, Morgan, Jackson Ader, Ronald Epstein, who's, Epstein, Keith Mackey Organizations: Nasdaq, Wall, Computer, Adobe, Boeing, Alaska Airlines, Bank of America, Aerospace, Defense, Halliburton, RBC Capital, HAL, Energy, Hilton Locations: Alaska, Seattle

☆ DOJ indicates it’s considering Google breakup following monopoly ruling
▼ + stars: | 2024-10-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

REUTERS/Ken CedenoThe U.S. Department of Justice late Tuesday made recommendations for Google's search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy. The DOJ also said it was "considering behavioral and structural remedies that would prevent Google from using products such as Chrome, Play, and Android to advantage Google search and Google search-related products and features — including emerging search access points and features, such as artificial intelligence — over rivals or new entrants." Kent Walker, Google's president of global affairs, said the company plans to appeal the ruling and highlighted the court's emphasis on the high quality of Google's search products, which the judge also noted in his ruling. In the second quarter, "Google Search & Other" accounted for $48.5 billion in revenue, or 57% of Alphabet's total revenue. The company holds 90% of search market share.

Persons: Jonathan Kanter, General Merrick Garland, Lisa O, Ken Cedeno, Sherman, Kent Walker, Judge Mehta Organizations: Live Nation Entertainment, Monaco, Department of Justice, REUTERS, U.S . Department of Justice, DOJ, Google, Apple, & $ Locations: Washington , U.S, U.S

☆ Amazon Prime Day is expected to gain more global members, benefiting the company: Evercore's Mahaney
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon Prime Day is expected to gain more global members, benefiting the company: Evercore's MahaneyMark Mahaney, Evercore ISI head of internet research, joins ‘Squawk Box’ to discuss Amazon as the online retail giant's Prime Day kicks off on Tuesday.

Persons: Evercore's, Mark Mahaney

☆ Wall Street giants like Goldman quickly up their bets on Chinese markets amid stimulus promises
▼ + stars: | 2024-10-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Goldman Sachs is the latest in a flurry of calls to upgrade China stocks after the Asian giant's recent wave of stimulus measures. Goldman predicts that Chinese stocks could even jump a further 15% to 20%, given the powerful comeback rally that has already occurred. It says the MSCI China index could have another 15% upside, and the CSI 300 index could enjoy a further 18% upside. In a Monday note, Citi also increased its price target for Chinese stocks. Following that, Wall Street started getting bullish on those stocks again, with Morgan Stanley predicting Chinese stocks are set to rally 10% and more.

Persons: Goldman Sachs, Goldman, Morgan Stanley, —, Vishnu Varathan Organizations: CSI, Citi, Wall, BlackRock Investment Institute, Mizuho Securities Locations: China, China's

☆ Google ordered to open up app store in Epic Games antitrust ruling
▼ + stars: | 2024-10-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A judge has ordered Google to open up Android to rival third-party app stores. The ruling is part of Epic Games' blockbuster antitrust case against Google. AdvertisementThe judge also ruled that Google must allow competition app stores to access Google Play apps and that it cannot require app makers to use Google Play Billing. Related storiesThe remedies follow a jury's finding last year that Google had violated antitrust policies in its Play Store for Android systems. AdvertisementAnother antitrust blow for GoogleThe Epic Games ruling is Google's latest setback as it faces other antitrust cases affecting different parts of its sprawling business.

Persons: — Organizations: Google, Epic Games, Service, Business, Department of Justice

☆ Samsung posts disappointing third quarter profit guidance as it grapples with AI chips
▼ + stars: | 2024-10-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

(Photo by Joan Cros/NurPhoto via Getty Images)South Korean tech giant Samsung Electronics said it expects worse-than-expected profit for the third quarter. Samsung is the leading manufacturer of memory chips, which are utilized in devices like laptops and servers. Analysts polled by LSEG expected an operating profit of 11.456 trillion Korean won ($7.7 billion) for the quarter ended Sept. 30. Samsung's revenue for the quarter was expected to hit 81.96 trillion won ($61 billion), according to LSEG estimates. DRAM refers to dynamic random access memory chips that are often used in laptops, workstations and PCs.

Persons: Joan Cros, Daniel Yoo, Yoo, LSEG Organizations: Samsung, Mobile, Getty Images, Samsung Electronics, Yuanta Securities, Macquarie Equity Research, Reuters Locations: Barcelona, Spain, Korean, Yuanta Securities Korea, South

☆ Former White House CTO Aneesh Chopra on Epic Games' antitrust win against Google
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer White House CTO Aneesh Chopra on Epic Games' antitrust win against GoogleAneesh Chopra, Arcadia chief strategy officer and former White House CTO, joins 'Squawk Box' to discuss Google as the search engine giant is ordered to open its Android app store in the Epic Games trial.

Persons: Aneesh Chopra, Google Aneesh Chopra Organizations: White, Epic Games, Google, White House Locations: Arcadia

☆ Apple could launch a ring to rival Samsung by 2026, research firm predicts
▼ + stars: | 2024-10-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTApple CEO Tim Cook gestures during the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Carlos Barria | ReutersApple could launch a connected ring to rival Samsung by 2026, according to CCS Insight, adding to the U.S. tech giant's focus on health. In fact, I would go so far as to say, at the point that Tim Cook decides to relinquish control and he retires ... "Given how deeply and personally invested Tim Cook is in health, I think that a ring is a very complimentary extension to Apple," he said, referring to Apple CEO Cook. Similar to smartwatches, a smart ring is embedded with various sensors to track health metrics like heart rate.

Persons: Tim Cook, Carlos Barria, Ben Wood, CNBC's, Cook, Wood Organizations: Reuters Apple, Samsung, CCS Insight, Apple, Apple Watch, Samsung Galaxy, South Locations: Cupertino , California, U.S, Cupertino, South Korean

☆ I crafted a masterplan at Google to try to get promoted as fast as humanly possible. This is what went into it.
▼ + stars: | 2024-10-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

While at Google, Lee said his most important goal was to get promoted as quickly as possible. AdvertisementThis as-told-to essay is based on a conversation with Jerry Lee, 29, a former manager at Google and cofounder of Wonsulting, a career consulting company. Jerry LeeThe most important goal I had at Google was to get promoted as fast as humanly possible. One of the things I'm trying to do at my career consulting company, Wonsulting, is force career conversations to happen at every level. AdvertisementSucceeding at work is less about what you know but how you do thingsLee cofounded his career consulting company, Wonsulting in 2021.

Persons: Jerry Lee, Lee, —, it's, they're Organizations: Google, Service, Lucid Software

Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda. Saudi Arabia's Public Investment Fund (PIF) trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake. The PIF reduced its stakehold in the Japanese video game giant to 7.54% from 8.58% previously, according to a Japanese regulatory filing. Saudi Crown Prince Mohammed bin Salman is also the chairman of Savvy Games Group. Nintendo has been grappling with a slowing console gaming market and an aging product by way of its flagship Switch hybrid console — its best-selling gear ever, which sold 143.4 million units worldwide.

Persons: Mario, Zelda, Prince Faisal bin Bandar, Saud —, —, Prince Faisal, Prince Mohammed bin Salman, it's Organizations: Nintendo, Saudi Arabia's Public Investment Fund, Nintendo Co, Games, Tokyo, Kyodo, Games Group, Microsoft, Sony Locations: Sultan, Saudi Arabia, Saudi

☆ McDonald’s is struggling. So is its big french fry supplier
▼ + stars: | 2024-10-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

That’s hurting french fry suppliers like Lamb Weston. This shift has taken a toll on Lamb Weston because people are less likely to cook french fries at home. Around 80% of french fries consumed in the United States come from fast-food chains, according to Lamb Weston. McDonald’s has launched a $5 meal, which includes a McDouble cheeseburger or a McChicken sandwich, small french fries, 4-piece chicken nuggets and small soft drink. “Many of these promotional meal deals have consumers trading down from a medium fry to a small fry,” Lamb Weston CEO Thomas Werner said last week on an earnings call.

Persons: Lamb Weston, McDonald’s, ” Lamb Weston, Thomas Werner, Lamb, R.J, Placer.ai Organizations: New, New York CNN Locations: New York, North America, Washington, United States

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