DIRS.INFO The most relevant business & tech news

They argue that geopolitical tensions between the West and China risk the reliable supply of rare earth minerals. Aclara's Barua said that Western supply of rare earth elements will not develop if it depends on Chinese prices. "The price of any metal (rare earth or otherwise) that is coming from China or from western countries has the same pricing, so why should rare earth pricing be different?" The discussion on pricing has come up often in the Rare Earth Industry Association, said Veluri, who is also the president of the global organization with partners representing the whole rare earth value chain. "But for things like cobalt, copper, or rare earth metals there is a good strategic play to find with a mining partner."

Persons: Ramon Barua, Aclara's Barua, Veluri, Australia's, Tim Harrison, Harrison, Flavio Volpe, Volpe, Divya Rajagopal, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Aclara, Earth Industry Association, Companies, Automotive Parts Manufacturers Association, Thomson Locations: China, Chile, West, Beijing, Badrinath, Denmark, Vietnam, Malaysia, Myanmar

[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York

Market-churning economic news is lacking this week, but that doesn’t mean Wall Street and the economy can rest easy. The political news heats up, with Donald Trump set to testify in his civil fraud trial in New York. And elections take place across the country on Tuesday that could show where the country stands politically one year out from the 2024 election. Meanwhile, a softer-than-expected jobs report on Friday had some analysts saying the economy was headed for a downturn. “The unemployment rate rose just a tenth to 3.9% in October versus September which the BLS called little changed,” he said.

Persons: Donald Trump, State Anthony Blinken, Bond, ”, Julia Pollak, ” Pollak, ” Chris Rupkey, Powell, ” Powell, “ Organizations: GOP, Hamas, State, West Bank, Federal Reserve, ZipRecruiter, Fed, Bureau of Labor Statistics, BLS, BCA Research Locations: New York, Miami, Israel, Iraq, Turkey, Washington

REUTERS/Amira Karaoud/File Photo Acquire Licensing RightsNEW YORK, Nov 3 (Reuters) - Wildcat Capital Management, a top shareholder in Consolidated Communications Holdings (CNSL.O), said on Friday it plans to vote against its $3.1 billion takeover by an investor consortium, as it undervalues the broadband services provider. In October, Consolidated Communications agreed to be bought by an investor group comprising Searchlight Capital Partners And British Columbia Investment Management Corp, months after the group had first submitted an offer to buy the company. Reuters reported in July that Wildcat asked Consolidated Communications to reject the offer. Consolidated Communications did not immediately respond to a request for comment. Wildcat argued that mature fiber and cable operators have historically been valued at 10 to 15 times earnings before interest, taxes, depreciation and amortization (EBITDA) by acquirers, whereas Consolidated Communications' take-private deal valued the company at about six times of cash flow.

Persons: Amira Karaoud, Wildcat, CNSL, Tom McConnon, McConnon, Anirban Sen, Rashmi Organizations: REUTERS, Wildcat Capital Management, Consolidated Communications Holdings, Consolidated Communications, Reuters, Searchlight, Partners, Columbia Investment Management Corp, Wildcat, acquirers, Frontier Communications, Thomson Locations: Oldham county, Louisville , Kentucky, U.S, , Illinois, New York

☆ Ratcliffe to invest extra $300 mln on top of 25% stake in Manchester United -source
▼ + stars: | 2023-11-03 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +2 min

Shares in United rose 4% to $18.85 on the news, which was first reported by Sky News. Manchester United declined to respond to a Reuters request for comment. Ratcliffe founded Ineos in 1998 and is the chemical group's chairman and chief executive officer, with a two-thirds stake. Record 20-time English champions, United have more than 650 million fans worldwide, according to market research firm Kantar. ($1 = 0.8110 pound)Reporting by Prerna Bedi in Bengaluru; Editing by Shinjini Ganguli, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Ratcliffe, Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Ineos, Erik ten Hag, Prerna Bedi, Shinjini Ganguli, Kirsten Donovan Organizations: Premier, Sky News, Manchester United, Reuters, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, United, League, Premier League, Manchester City, Thomson Locations: Manchester, United, Qatar's Sheikh Jassim bin Hamad al Thani, Ineos, British, Bengaluru

☆ Cooling job market no reason for panic yet, economists say: 'It's a slowdown, not a collapse'
▼ + stars: | 2023-11-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Brown | Afp | Getty ImagesThe job market continues to show signs of cooling, but alarm bells aren't ringing just yet, economists said. The unemployment rate rose to 3.9% in October, from 3.8% in September, the BLS said. "There's almost no exception in this report: Every indicator suggests a slowing, slackening labor market," she said. "The days of explosive growth are gone, as the labor market shifts into healthier and more sustainable territory," said Noah Yosif, lead labor economist at UKG, a payroll and shift management company. The rise in the unemployment rate may also just be a sign that the extremely hot labor market is loosening a bit, Bunker added.

Persons: Frederic J, Brown, Julia Pollak, Pollak, Noah Yosif, Aaron Terrazas, Terrazas, Andrew Hunter, Nick Bunker Organizations: Afp, Getty, U.S . Bureau of Labor Statistics, BLS, Workers, Finance, Union, Capital Economics Locations: Los Angeles, U.S

☆ Wavering ‘Magnificent Seven’ draw bargain-hunters amid U.S. stock sell-off
▼ + stars: | 2023-11-01 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Surging bond yields and mixed earnings reports have weighed on the so-called Magnificent Seven stocks, which are collectively down an average of about 15% from their 52-week highs, though they all still sit on hefty gains for the year. The stocks now trade at an average forward price-to-earnings ratio of about 30 times compared with 45 times in mid-June. I actually think the Magnificent Seven will hold up better,” said King Lip, chief strategist at Baker Avenue Wealth Management. Because the Magnificent Seven have a combined weighting of 28% in the S&P 500, their performance holds a large sway over the broader index. Lip said his firm owns shares of all seven companies and has recently added to its holdings in some of them.

Persons: Brendan McDermid, Meta, ”, Lip, Jay Hatfield, Kim Forrest, ” Forrest, Apple’s, Hatfield, Thomas Ognar, Ognar, ” Ognar, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: NVIDIA Corp, New York Stock Exchange, REUTERS, Apple, Microsoft, Wealth Management, Tech, BofA Global Research, Vanda Research, Federal, Treasury, U.S, Google, Facebook, Bokeh Capital Partners, Nvidia, Allspring, Thomson Locations: New York City, U.S

☆ About 3.5 million more American families went hungry after food prices spiked and the pandemic-era child tax credit ended
▼ + stars: | 2023-11-01 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

There was also an increase in food insecurity for households with children from 2021 to 2022. AdvertisementAdvertisementAbout 3.5 million more US households were food insecure for at least part of 2022 than in 2021. Food insecurity is when the "ability to acquire adequate food is limited by a lack of money and other resources," per the report. Around 17 million households, or 12.8% of US households, were food insecure in 2022. Hall said the 40% increase in food insecurity for households with children, from 4.6 million households to 6.4 million households, was also discouraging given the large fall in 2021.

Persons: Chloe East, —, Lauren Hall, Hall, Tom Vilsack, Vilsack Organizations: Hamilton, Brookings, Service, US Department of Agriculture, University of Colorado, SNAP, Budget, Women, USDA Locations: University of Colorado Denver, America

The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine-tune use of production capacity and maximize efficiencies. Vista, Blackstone, Riverside and Energy Exemplar declined to comment. Energy Exemplar has grown at an annual compound rate of 30% since 2018 under Riverside's ownership, the sources said. Blackstone is investing in Energy Exemplar through its energy transition arm, which is in the process of raising a new fund. Its previous investments include Transmission Developers, solar mounting firm Esdec, environmental engineering firm Geosyntec, environmental commodity exchange Xpansiv, and renewable energy firm Invenergy.

Persons: Blackstone, Anirban Sen, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Blackstone, Vista Equity Partners, Australia's, . Energy, Riverside Company, Blackstone Energy, Partners, U.S . Securities, Exchange Commission, The, Developers, Foundation, Thomson Locations: New York City, U.S, Vista, Blackstone, Riverside, North Adelaide, The New York, New York

☆ How to jump jobs within your company, according to a career trends expert: It's a 'really smart' move for many
▼ + stars: | 2023-10-31 | by ( Annie Probert | ) www.cnbc.com time to read: +1 min

Workers seeking a new job cited salary as the leading reason for wanting to leave their current gig. "Limiting opportunities exist within several employers right now," Scott Dobroski, a career trends expert at Indeed, tells CNBC Make It. Whether it's due to uncertain economic times or because workers love career growth opportunities, Dobroski says he isn't surprised by this statistic. And it also shows that they believe there could be career opportunities within the company, either in or outside of their own team." While there's no "one-size-fits-all" approach, here are three tips from Dobroski on the right way to switch jobs within your employer.

Persons: Scott Dobroski, LendingTree, Dobroski Organizations: Workers, CNBC

TORONTO, Oct 30 (Reuters) - Shares in First Quantum Minerals (FM.TO) closed down 28% on Monday after Panama's government said it will hold a referendum on whether to scrap a mining contract awarded to the Canadian mining company on Oct. 20. Shares of First Quantum closed at C$20 after falling as much as 30% earlier in the trading session. President Laurentino Cortizo's decision to hold a binding referendum on Dec. 17 comes after 10 months of disputes regarding First Quantum's open pit mine at Cobre Panama. Thousands of people hit the streets over last weekend after the government approved the new contract with the company. Cobre Panama represents nearly 5% of Panama's gross domestic product and 1.5% of global copper production, according to RBC Capital Markets.

Persons: Panama's, Laurentino, Jefferies, Divya Rajagopal, Eli Moreno, Valentine Hilarie, Tomasz Janowski, Will Dunham, Jan Harvey Organizations: TORONTO, Quantum Minerals, Central American, Cobre, RBC Capital Markets, Thomson Locations: Toronto, Panama, Cobre Panama, Panama City

LIN YTD mountain Linde YTD Bottom line Industrial gas giant Linde (LIN) delivered the kind of quarter we've come to expect: Double-digit earnings growth and a lift to its profit guidance. While the top-line sales figure was light, Linde's strong operating margin expansion in the quarter more than made up for it. In good economic times and bad, Linde's model of continued margin expansion with project growth has enabled earnings per share growth of at least 10% annually. That means the current backlog of $4.5 billion should be worth a few percentage points of earnings growth next year. Linde sees fourth-quarter earnings per share falling to between $3.38 and $3.48, compared with the $3.46 consensus estimate from analysts.

Persons: Linde, Jim Cramer, Jim, Matt White, Sanjiv Lamba, Lamba, Wall, —, Jim Cramer's Organizations: LIN, Linde, Morning, Management, CNBC, Tanks, Bloomberg, Getty

☆ AI, machine learning, and robotics are making the retail supply chain more efficient and resilient — a welcome shift after several rocky years
▼ + stars: | 2023-10-26 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AdvertisementAdvertisementIncreasing efficiencies in the retail supply chain is necessaryPaul Maguire, the head of retail delivery at the digital consultancy Endava, told Insider that embarking on a digital transformation was critical to better-connected and more resilient retail supply chains. Digital technology will "close gaps in supply-chain visibility" and help retailers "manage future unforeseen surges in product demand," he said. These innovations will "continue to bolster and streamline the retail supply chain as they become even more sophisticated," Maguire said. AdvertisementAdvertisementTo survive, Perry said that the retail supply chain must take steps to become more agile and flexible. ScanditA data-driven tech strategy can also help retailers appeal to sustainability-conscious consumers.

Persons: —, Paul Maguire, Maguire, John Perry, Perry, they'd, Wunderman, Arifi, Naji, Wunderman Thompson, Samuel Mueller, Mueller Organizations: Service, SCALA Consulting, Wunderman Thompson Commerce & Technology, DFS, Wunderman Thompson Commerce, Technology Locations: Ukraine, SCALA, British

REUTERS/Ahmed Zakot Acquire Licensing RightsOct 21 (Reuters) - Canada's National Department of Defence said on Saturday that Israel was not behind the Al-Ahli hospital strike in Gaza on Oct. 17. "Analysis conducted independently by the Canadian Forces Intelligence Command indicates with a high degree of confidence that Israel did not strike the Al-Ahli hospital on 17 October 2023," it said in a statement. The strike was more likely caused by an errant rocket fired from Gaza, the Defence department said based on analysis of open source and classified reporting. Palestinian officials said 471 people were killed in the blast at Al-Ahli al-Arabi Hospital on Tuesday. Gaza's health ministry blamed an Israeli air strike, while Israel said the blast was caused by a failed rocket launch by militants.

Persons: Ahmed Zakot, Israel, Jose Joseph, Divya Rajagopal, Sonali Paul Organizations: REUTERS, Canada's National Department of Defence, Al, Canadian Forces Intelligence Command, Defence, U.S ., Thomson Locations: Al, Ahli, Israel, Gaza City, Gaza, France, U.S . Canada, Arabi, Bengaluru, Toronto

☆ Hey managers, we should be answering Gen Z's questions, not just complaining
▼ + stars: | 2023-10-21 | by ( Tim Paradis | Diamond Naga Siu | ) www.businessinsider.com time to read: +8 min

It's easy for older workers to complain about Gen Zers as being lazy or entitled. Yet some Gen Z workers are questioning norms that need to be reconsidered, experts tell Insider. AdvertisementAdvertisementWe've all heard the complaints about Gen Z and how they're rattling older managers . People older than Gen Z created the social platforms some Gen Zers are sounding off on. 1 thing she hears from older workers is that Gen Zers ask too many questions.

Persons: Gen Zers, —, Gen, Gen Z, Zers, TikTok, Kenneth Matos, Matos, who's, Xer, " Matos, Rebecca Fagan, she's, Fagan, Maia Ervin, Ervin, it's, millennials, they're, Z Organizations: Service, Boomers, KPMG, Gen, JUV Consulting Locations: Zaria

☆ The Federal Deficit Is Growing. This Is Why.
▼ + stars: | 2023-10-20 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

America’s federal budget deficit appears to have roughly doubled over the year to $2 trillion, a surprising jump given the strength of the economy. The deficit is the gap between how much the government spends and how much it receives in taxes. White House officials initially predicted that the deficit would hit about $1.7 trillion in the 2023 fiscal year, which ended last month. The surging deficit is a surprise given that the economy grew faster than expected over the last year. Administration officials have sought to blame Mr. Biden’s predecessor for the deficit surge.

Persons: Donald J, Trump, Biden, Biden’s, Mr Organizations: White, Supreme, Treasury Department, Administration, Republicans, Mr

It was unclear what stake JFE was seeking or what price it was offering. Japan's Nippon Steel (5401.T) has previously said it was looking to buy a 10% stake in Teck's coal business for C$1.15 billion, valuing the overall business at about C$11.5 billion, with an option of increasing its stake to 17.5%. Glencore has said it will consider buying the coal business for about $8.5 billion. JFE Steel holds 15% equity in India's JSW Steel (JSTL.NS), which was also exploring an investment in Teck's coal business. Price said the company had two options -- a 100% sale of the coal business for cash or a partial sale of the coal business, with proceeds going to growing the copper business.

Persons: Chris Helgren, Glencore, Major steelmakers, Teck, JFE, Jonathan Price, Price, Divya Rajagopal, Neha Arora, Denny Thomas, Nick Zieminski, Rod Nickel Organizations: Teck Resources, Developers Association of Canada, REUTERS, Rights, JFE Steel Corp, Canada's Teck Resources, Reuters, Japan's Nippon Steel, JFE Steel, JSW, Thomson Locations: Teck, Toronto , Ontario, Canada, Canada's Teck, Russia, JFE, Tokyo, Australia, Swiss, Toronto, India

☆ Insider Today: Big banks' cloudy forecast
▼ + stars: | 2023-10-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at why strong earnings results from some big banks weren't necessarily the big win markets were hoping for. The big storyTrouble brewingAdvertisementAdvertisementOn the surface, earnings season got off to a great start. And that could spell trouble for the broader market hoping for a banner earnings season to help it finish the year on a positive. AdvertisementAdvertisement"This may be the most dangerous time the world has seen in decades," he said in a press release announcing the bank's earnings. One market veteran predicts stocks will rally for the final stretch of the year due to a strong earnings season.

Persons: Elon Musk, Steve Jobs, Wells, Jamie Dimon, Dimon, Julian Restrepo, Emmalyse Brownstein, Mark Mason, JPMorgan's, Teresa Heitsenrether, Goldman Sachs, Jane Fraser, Fraser, Michael Siluk, there's, Walter Isaacson, Justin Sullivan, Tim Mosenfelder, Elon, Tyler Le, Noah Webster, He's, Naomi Osaka, Angela Lansbury, Sue Bird, Oscar Wilde, Bryce Harper, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, JPMorgan, Citigroup, AP, Citi, Barclays, Suisse, New York Department of Labor, Getty, Wedbush Securities, Microsoft Outlook, Microsoft, Consumers, PETA, Dairy Summit Locations: Ukraine, Israel, Chicago, New York City, San Diego, London, New York

The move leaves the remaining bidder for Manchester United, Ineos chairman Jim Ratcliffe, in a stronger position. The exact value that Ratcliffe's bid infers on Manchester United could not be learned, but the sources said it was higher than Jassim's offer of more than $6 billion. Manchester United is currently valued by the stock market at $3.3 billion. Representatives for Jassim declined to comment while Manchester United and Ratcliffe representatives did not immediately respond to a request for comment. Record 20-time English champions, Manchester United has over 650 million fans worldwide, according to market research firm Kantar.

Persons: Phil Noble Livepic, Sheikh Jassim bin Hamad al Thani, Glazer, Jim Ratcliffe, Jassim, Ratcliffe, Todd Boehly, Malcolm Glazer, Alex Ferguson's, Erik ten Hag, Anirban Sen, Mrinmay Dey, Chizu Organizations: Soccer, Manchester United, Europa League, Friends, Reuters, Manchester United Plc, Representatives, Sky News, Chelsea Football Club, Clearlake, Tampa Bay Buccaneers, League, Manchester City, Thomson Locations: Stockholm, Sweden, Manchester, New York, Bengaluru

☆ Exclusive: Ratcliffe would pay more than $1.5 bln for 25% Manchester United stake-source
▼ + stars: | 2023-10-15 | by ( Anirban Sen | Thomson Reuters | Anirban Sen Is The Editor In Charge For U.S. M A At Reuters In New York | ) www.reuters.com time to read: +3 min

That is slightly higher than a rival offer from Qatar's Sheikh Jassim bin Hamad al Thani for $100% of the Premier League club. Manchester United is currently valued by the stock market at $3.3 billion. Sheikh Jassim informed the Glazer family in the last few days that he would not be raising his bid further. Ratcliffe has offered to be in charge of hiring and managing talent at Manchester United should his bid prevail, the source said. Manchester United and Ratcliffe did not immediately respond to a request for comment.

Persons: Jim Ratcliffe, Glazer, Qatar's Sheikh Jassim bin Hamad al, Sheikh Jassim, Ratcliffe, Malcolm Glazer, Ineos, Todd Boehly, Erik ten Hag, Anirban Sen, Greg Roumeliotis, Sandra Maler, Diane Craft Organizations: Manchester United Plc, Manchester United, Premier League, Tampa Bay Buccaneers, Forbes, Ligue, Nice, Swiss Super League, FC Lausanne, Racing Club Abidjan, Ivory Coast Ligue, Grenadiers, Chelsea Football Club, Clearlake, Manchester, League, Manchester City, Thomson Locations: Qatar's, Qatar's Sheikh Jassim bin Hamad al Thani, Manchester, Ineos, British, New York

Box office receipts totaled 23.44 billion yuan ($3.2 billion) between June and September, the highest amount for that period in history, according to data from Dengta and Maoyan, China’s two major box office tracking apps. Ticket sales for the traditional high season between June and August soared to a record 20.6 yuan ($2.8 billion), smashing the previous summer peak of 17.8 billion yuan ($2.4 billion) recorded in 2019. “I’ve been a big fan of American and European movies,” Peng said. Powered by womenThat China’s recent box office boom has been driven by women is surprising given the gender imbalance in the country. So far this year, American films accounted for only about 14% of China’s box office, the second largest in the world, according to CNN calculations based on Dengta data.

Persons: Alibaba, ”, Stanley Rosen, Rosen, “, Fred Astaire, Ginger Rogers, Barbie ”, “ Oppenheimer, ” Perry Peng, she’s, “ We’ve, “ Barbie, “ I’ve, ” Peng, ” Pency Peng, Perry’s, Xuguang Chen, Chen, Kevin Tran, Tran Organizations: Hong Kong CNN, USC’s, China Institute, Warner Bros, CNN, School of Arts, Peking University, “, Morning, Hollywood Locations: China, Hong Kong, Dengta, United States, Shanghai, WarnerBros .

☆ Universal basic income improved lives in rural Canada when they tried it in the '70s. Here's why the program got scrapped.
▼ + stars: | 2023-10-15 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +6 min

A rural Canadian town gave its residents a type of universal basic income for three years. The study can still teach us lessons about the benefits of universal basic income, an expert says. AdvertisementAdvertisementFor four years in the late 1970s, Canada's Manitoba province ran a program called the Manitoba Basic Annual Income Experiment, or MINCOME. It was a guaranteed annual income program, which typically channels funds to people based on their income. Families with no income from other sources received payments that put them at 60% of the annual income, considered the cut-off for being low-income.

Persons: —, MINCOME, Evelyn Forget, she's, Forget, UBI Organizations: Service, Toronto Star, CTV News, CTV Locations: Manitoba, Dauphin , Manitoba, Canadian, Dauphin, MINCOME, Canada, Unemployment

☆ Shares of luxury brands are tumbling in a sign consumers' high-end spending spree is over
▼ + stars: | 2023-10-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The boom in luxury goods is over as consumers pull back on their multiyear high-end spending spree. AdvertisementAdvertisementIn the US, card spending for luxury fashion has been on the decline for six quarters in a row, with luxury fashion spending down 16% year-over-year over the past quarter, Bank of America card data shows. Card spending on luxury fashion has declined for six quarters in a row. Bank of AmericaUS card spending on luxury fashion declined 16% year-per-year the past quarter, Bank of America forecasts. That's because European investors often say tech stocks are a competitor to luxury stocks in their portfolios, Colas said.

Persons: —, LVMH, DataTrek, Nicholas Colas, Ralph Lauren, Colas, Kelly Organizations: Service, Bloomberg, Bank of America, Bank of America US, Industry, Consumers, San Francisco Fed, Tech Locations: LVMH, Paris

☆ Halloween is candy's biggest holiday. Here's how Snickers maker Mars prepares for trick-or-treaters
▼ + stars: | 2023-10-14 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

For 11 months of the year, Tim LeBel is Mars Wrigley's president of sales. The National Retail Federation predicts consumers will spend $3.6 billion on Halloween candy this year, up from $3.1 billion last year, even as many shoppers pull back spending elsewhere. Unlike Hershey, family-owned Mars doesn't report its financial results, but disclosed nearly $45 billion in annual revenue in 2021. With the stakes so high for Halloween, Mars starts planning for the holiday two years in advance. "A lot of those things take two years to develop and execute to bring to market," LeBel told CNBC.

Persons: Tim LeBel, Mars, Ferrero, Mondelez, …, Hershey, Michele Buck, LeBel Organizations: Mars, Hershey, National Retail Federation, CNBC

Search resuls for: "Economic Times"

25 mentions found