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SummarySummary Companies H1 profit down 24%Expects profit decline in full yearFacing higher labour, energy, currency costsLONDON, Nov 9 (Reuters) - British retailer Marks & Spencer (MKS.L) warned on Wednesday of a "gathering storm" of higher costs and pressure on household budgets, as it reiterated full-year profits would fall. Profits fell, despite an 8.5% rise in revenue to 5.54 billion pounds, due to higher costs. Prior to Wednesday's update, analysts were on average forecasting a profit before tax and adjusting items of 397 million pounds for the 2022-23 fiscal year, down from 523 million pounds in 2021-22. Marks & Spencer (M&S), whose shares have halved this year, said total food sales increased 5.6% in the first half, while clothing and home sales rose 14%. "Across all M&S markets it is highly likely that conditions will become more challenging in FY24," M&S said.
Executives are aggressively paying down debt as higher interest rates increase the cost associated with having debt and businesses face the prospect of a recession. As a result, some are taking steps to rein in expenses and cut interest costs, while others are looking to put cash reserves to work as their bank deposits continue to generate minimal yields. Beauty paid an annual interest rate of 4.9% on the loan, according to Mandy Fields, the company’s chief financial officer. About two-thirds of the loan carried a 5% interest rate that was fixed through a swap, which was set to expire in 2025. The two transactions reduced KAR’s annual interest costs by $70 million, to an estimated $15 million a year, Mr. Loughmiller said.
Disney shares fall as rising streaming costs spook investors
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: +2 min
Nov 9 (Reuters) - Shares in Walt Disney Co (DIS.N) tumbled 8% premarket on Wednesday as ballooning costs at the entertainment giant's fast-growing streaming division cast a shadow on strong subscriber additions. The company missed analysts' expectations for fiscal fourth-quarter earnings, after a $1.5 billion loss in its streaming division. read more"Disney's streaming results are indicative of the tightrope it is walking," said Fred Boxa, associate director at technology and management consulting firm Arthur D. Little. Subscriber growth in Disney+ was expected to accelerate in the second quarter, she added, a sign analysts said indicated a soft first quarter. A weaker-than-expected full-year revenue growth forecast also dragged shares.
Consumers turn to credit cards, loans as costs soar - report
  + stars: | 2022-11-08 | by ( ) www.reuters.com   time to read: +1 min
Nov 8 (Reuters) - More consumers opted for credit cards and unsecured loans in the third-quarter from a year earlier amid decades-high inflation, according to a report on Tuesday from global credit rating firm TransUnion (TRU.N). While delinquencies for most credit products are treading in line with pre-pandemic levels, they have risen in comparison to levels seen in 2021, the quarterly Credit Industry Insights Report (CIIR) added. Most consumer-facing U.S. banks, including JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) as well as credit card giant American Express (AXP.N), built rainy-day funds in the third-quarter for loans that could potentially sour as consumers start feeling the pinch of the economic slowdown. According to the report, credit card balances continue to grow, with bank card balances reaching a record high of $866 billion in the third quarter, driven primarily by Gen Z and millennial borrowers. Reporting by Manya Saini in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Pet food prices rose 14% between September 2021 and September 2022, according to the Bureau for Labor Statistics. Fifty percent are shopping for cheaper alternatives to their standard pet food, and 35% say they've had to reduce the frequency of their visits to grooming services. More worryingly: 46% of pet owners said that they've decided to forego or delay veterinary treatments in the wake of inflation — including dental procedures and X-Rays. She told Insider: "Google searches for "can I give my dog paracetamol?" have surged recently, as we fear people are seeking to self-medicate animals and avoid vet costs."
To add music to your Instagram Story, tap the sticker icon and select the music option. Here's how to do it all, or troubleshoot if you don't have the option to add music. How to add music to your Instagram StoryTo add music to an Instagram Story, tap the square smiley face icon in the top-right corner, and select the Music sticker in the pop-up menu. How to add music to your Instagram Story via streaming appsYou can add music to your Instagram story directly from Spotify, SoundCloud, or Shazam. How to add music to an Instagram Story if you don't have the music sticker1.
For advisors counseling clients like these, there is a smart tool they can use to support non-profit innovation. It's called a recoverable grant. watch nowSince recoverable grants are allocated through charitable entities, there are no specific tax implications of the structure and format. They are well suited for making "catalytic," or seed capital grants that allow nonprofits to stretch beyond the direct services these organizations provide day-to-day. Recoverable grants support getting innovative, novel solutions to entrenched problems off the ground, scaling up successful programs, or helping solve acute and temporary funding gaps.
How often you should wash your hair
  + stars: | 2022-11-04 | by ( Kristen Rogers | ) edition.cnn.com   time to read: +5 min
But experts say there isn’t a one-size-fits-all answer to how often you should wash your hair — or what you can do to maintain it on off days. When to washRossi generally tells his patients they should wash their hair once or twice per week. But if you’ve had chemical treatments that can make your hair drier — such as bleach, perms or relaxers — you might want to wash it less than once weekly to avoid breaking or brittle hair or split ends, he said. But you should wash it at least every two to three weeks to keep your scalp and hair clean and healthy. If you’re experiencing perpetual issues with your scalp or hair — such as dandruff, hair loss or brittle hair — you should see a board-certified dermatologist who treats conditions in these areas, Rossi said.
Persons: , Anthony Rossi, ” Rossi, Rossi, you’ve Organizations: CNN, Memorial Sloan Kettering Cancer Center, American Academy of Dermatology Association, American Academy of Dermatology Locations: New York City
But annual revisions to the data showed productivity much stronger in 2020 and 2021 than previously reported. Unit labor costs - the price of labor per single unit of output - increased at a 3.5% rate after accelerating at a pace of 8.9% in the second quarter. Unit labor costs advanced at a 6.1% rate from a year ago. Growth in unit labor costs was much slower than previously estimated in 2020 and 2021. Labor costs"Both productivity growth and labor cost growth may be understated," said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.
High-yield savings accounts and standard savings accounts are both federally regulated and liquid. The main difference is that high-yield savings accounts can earn around 17 times more in interest. But a high-yield savings account will likely be a stronger choice for storing your money than a traditional savings account. Compare savings ratesSavings accounts differencesHigh-yield savings accounts are designed to make your money work in a way typical savings can't. The main difference between the typical savings account and a high-yield savings account is how much more your account will grow.
SKIP AHEAD Best scalp acne treatments | Common causes of scalp acne and how to treat itBest and worst ingredients for scalp acneClarifying shampoos help to remove buildup on your scalp, said board-certified dermatologist Dr. Jessie Cheung, MD, and look out for ingredients like salicylic acid. Regardless of which product you use, Cheung noted that you may notice a drying effect “immediately,” but scalp acne can take a few days to heal. Witch hazel and peppermint oil help soothe the scalp and remove excess oil, according to Zeichner, which can improve both flakes and scalp acne. Scalp acne: Common causes and how to treat itTucked under your hair, scalp acne might not be as glaring as a huge zit on your nose, but it’s still a nuisance. The bad news is that if your scalp acne is genetic or hormonal, it's a bit trickier to remedy.
UK Prime Minister Rishi Sunak is worth about $850 million according to the Sunday Times Rich List. With wealth that rivals King Charles III, the former finance minister is the richest UK leader ever. The 42-year-old former chancellor (finance minister) has a net worth of £730 million ($847 million) according to the Sunday Times Rich List, and was ranked 222nd in May. Queen Elizabeth II was estimated to be worth about $440 million before her death, according to the Sunday Times. The ex-finance minister has a 19th century, Grade II-listed mansion in Yorkshire as well as a London home worth millions.
The Best Shoes for Standing All Day
  + stars: | 2022-10-29 | by ( ) www.wsj.com   time to read: +6 min
By Leigh-Ann JacksonOn those busy work or travel days when you barely get a chance to sit, a comfortable pair of shoes can be your saving grace, keeping blisters and back pain at bay. The best stylish and comfortable shoes for womenSupportive slip-onsRothy’s footwear collection is known for its flexible and breathable knit fabrication, which comes in handy if you’ll be spending all day in a pair. The brand’s shoes already come standard with cushy layers of jute, cork, latex and suede lining in their footbeds. The best stylish and comfortable shoes for menOffice-ready pickThis Cole Haan option could quite possibly be the perfect workplace shoe, according to Peter Nguyen, Brooklyn, N.Y.-based personal stylist and founder of The Essential Man. “They have this knit fabric and cushioning that just wraps around your foot,” he says, and also appreciates the shoes’ terry-lined tongues and padded heels.
Most people who have credit card debt throw all their cash and windfalls at the debt. One of the biggest insights I've learned working with Brunch & Budget clients is that the best way to pay down debt is to save. What usually happens when you try to pay off credit card debtGetting into debt can happen in a flash. At some point, you hit your credit card screw-it number and just start charging everything to the card. For instance, if you've been putting $250 per month away in savings, put $125 towards savings and $125 towards the credit card debt.
Inflation readings have moderated somewhat in recent months but remain near the highest levels since the 1980s. A government report on spending and inflation in September will offer details on the backdrop for consumers headed into the holiday shopping season. The Commerce Department data, to be released at 8:30 a.m. ET Friday, could show the extent to which the gap between Americans’ spending and incomes widened as they felt the pinch from rising prices. The report also will include the Federal Reserve’s preferred inflation gauge.
Haitian soup joumouColorful and nutritious soup joumou is also known as Haitian New Year's Soup. Recent studies have found that phytonutrients, which are minimally processed — and often colorful — plant foods, can support proper immune balance and function. Maya Feller, a dietitian and author of the forthcoming book "Eating From Our Roots," is a fan of soup joumou. Nguyen's recipe is filled with ingredients that are beneficial for immune health, like fresh herbs, vegetables and meat protein. Meanwhile, in a large pan, heat 1/2 tablespoon of olive oil and add the white onions.
SummarySummary Companies Q3 core profit up 6.5% vs market consensus 5.2%AB InBev says beer market resilientHeineken, Carlsberg voice concerns over European consumersBRUSSELS, Oct 27 (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's largest brewer, reported higher-than-expected quarterly earnings on Thursday as beer sales accelerated, and raised its 2022 outlook to the top-end of its previous forecast range. Third-quarter core profit - earnings before interest, tax, depreciation and amortisation - rose 6.5% on a like-for-like basis to $5.31 billion, above the 5.2% climb forecast by analysts in a company-compiled poll. The company said it now expects its core profit to rise by between 6% and 8%. EUROPEAN CONSUMER PINCHAB InBev's largest rivals, far more reliant on Europe, gave a more cautious view of the beer market. For it and Heineken, Europe represented at least 50% of their third-quarter business, against less than 15% for AB InBev.
Walton & Hersham FC traces its roots to 1895 and played at Wembley, but it had fallen on hard times. My first memory of football was when I was 5 and my dad took me to watch Walton & Hersham FC play AFC Wimbledon. One Saturday in 2018, I decided to take a break from my university studies and watch a Walton & Hersham FC match with my dad. Under the new owners, Walton & Hersham FC has been promoted twice. We're not on the same scale as "Welcome to Wrexham," but we recognized the financial anguish that comes with owning a football club.
Some leading strategists and experts are very positive on smaller companies right now. Heading into a recession, smaller companies usually look expensive compared to their bigger peers. Steven DeSanctis, a SMID-cap strategist for Jefferies, is another expert who is positive on smaller companies right now. But he notes that even though small caps have delivered better returns than large caps since June 30, investors are still pulling money out of small cap-themed ETFs. In fact, Fisher wrote that when small caps do this poorly, it can lead to powerful recoveries.
The iPhone has become a "nonsubstitutable infrastructure," columnist Michael Gartenberg says. The iPhone — with iOS and the App Store — has maintained such a dominant position in the mobile industry for so long, it has achieved the status of what's known as "nonsubstitutable infrastructure." Nonsubstitutable infrastructure is something that so strongly holds users, a competitor can't get them to replace it. The New Jersey Turnpike is nonsubstitutable infrastructure. Despite this, it's inevitable that the iPhone and the Apple ecosystem will be replaced by something else.
12 queer icons to channel this Halloween
  + stars: | 2022-10-25 | by ( Ellie Rudy | ) www.nbcnews.com   time to read: +10 min
Without further ado, here is a selection of queer icons and pop culture favorites — in no particular order — whom you can channel for Halloween (a.k.a. For a relatively stress-free Halloween ensemble, throw on a tux, top hat, a pocket square and some fierce red lipstick. To channel Ms. Kahlo this Halloween, you’ll need her signature unibrow (eyeliner or an eyebrow pencil should do the trick), a flower crown, red lipstick, a colorful blouse and a floor-length skirt. For this costume, you’ll need a fedora, a (preferably pastel) dress shirt, a tie matching the hat and, if you’re really feeling the fantasy, a color-coordinated sweater vest. If you dress up as any of these queer icons and pop culture favorites for Halloween, tag @NBCOut on Twitter or Instagram in a costume photo!
Shares of Coca-Cola rose 2.3% after the soda giant also beat third-quarter revenue and profit estimates. On an adjusted basis, Coca-Cola earned 69 cents per share on net revenue of $11.1 billion. Analysts had expected earnings of 64 cents per share on revenue of $10.52 billion, according to IBES data from Refinitiv. The company forecast organic revenue to rise 14% to 15% in 2022, compared to prior expectation of 12% to 13% increase. It raised its full-year adjusted earnings per share growth forecast to 6% to 7%, from 5% to 6%.
YouTube is constantly updating its suite of creator tools and features. We spoke with seven creators who shared their favorite — and most-hated — YouTube features. YouTube has recently begun rolling out a new look and slate of features as part of a redesign. Last month, it announced an overhaul to the creator monetization program — sharing ad revenue with Shorts creators for the first time. To learn what creators think of the 17-year-old platform, Insider spoke with seven YouTubers who shared their favorite and least favorite YouTube features, and which tools they wished the platform had.
Reporting results on a constant-currency basis can be beneficial to global companies whose results have been hit by swings in foreign-exchange rates. To report on a constant-currency basis, companies must have a full understanding of their exposure to foreign-exchange rates, Mr. Koester said. Revenue was $4.43 billion, up 13% year-over-year on a reported basis and 15% on a constant-currency basis. Ralph Lauren Corp. said in August that its fiscal first-quarter revenue grew 8% on a reported basis and 13% on a constant-currency basis. Ralph Lauren said it expects, on a constant-currency basis, to report fiscal 2023 revenue growth in the high-single-digit percentages, around 8%, compared with 2022.
SYDNEY, Oct 24 (Reuters) - Australia's economic growth is expected to slow sharply next financial year as rising inflation curbs household consumption, according to new forecasts to be unveiled by Treasurer Jim Chalmers in Tuesday's budget. GDP is also due to be downgraded to 3.25% from 3.5% for 2022-2023, according to draft figures from the Treasury. The drop-off is blamed on a slump in consumer spending as rising prices and the biggest jump in interest rates in decades cut into household budgets. "These headwinds will inevitably impact our growth outlook, and Australians are already feeling the pinch from higher prices and rising interest rates." "The best defence against these economic headwinds is a responsible budget ... along with responsible cost-of-living relief that won't make the job of the Reserve Bank more difficult," Chalmers told the Australian Financial Review.
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