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☆ While Black Friday and Cyber Monday did good, Giving Tuesday lagged
▼ + stars: | 2023-12-03 | by ( Sergio Padilla | ) edition.cnn.com time to read: +4 min

New York CNN —Americans seemed more willing to spend money on Black Friday and Cyber Monday, but less willing to donate money on Giving Tuesday. Giving Tuesday’s decline in participation is not an isolated incident, but rather, as its organization acknowledges, part of larger trends philanthropic organizations are experiencing. According to a report by Giving USA from this past June, Americans are giving the lowest percentage of their disposable income since 1995. Americans gave just 1.7% of their disposable income in 2022, with charitable giving declining from 2021 by 3.4% to $499.3 billion, which represents an even larger decline of 10.5% when adjusted for inflation. “I think the numbers are very interesting in terms of Black Friday and Cyber Monday but they don’t tell you the whole picture,” said Neil Saunders, managing director of GlobalData Retail.

Persons: “, ”, Asha Curran, Ebenezer Scrooge, Neil Saunders, ” Saunders, CNN’s Nathaniel Meyersohn, Elisabeth Buchwald Organizations: New, New York CNN, Black, CNN, GivingTuesday, United Nations Foundation, National Retail Federation, Adobe, Federal, GlobalData, Adobe Analytics, Charities Aid Locations: New York, New York City

☆ Target is taking booze-less spirits mainstream
▼ + stars: | 2023-12-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —With sales of non-alcoholic beverages recently becoming a nearly half-billion dollar industry, even Target is becoming sober curious. Drinks in the lineup include two celebrity-backed companies: Kin Euphorics, a trendy brand co-founded by model Bella Hadid, and Katy Perry’s De Soi, which makes non-alcoholic apéritifs. Other brands include NOPE and Ghia, both of which produce non-alcoholic canned cocktails, and alcohol-free wine company Surely. “Séchey is a great curator of non-alcoholic brands and will help Target to really elevate its offer,” Neil Saunders, retail analyst and managing director at GlobalData Retail, told CNN. That has created a boom in sales for non-alcohol spirits, wine and beer, which surpassed $500 million this year according to research firm NIQ.

Persons: Sèchey, Kin, Bella Hadid, Katy Perry’s, apéritifs, Kendra Scott, “, ” Neil Saunders, it’s, Molson Coors, Roxie, Molson Coors Beverage Company Roxie, Jamie Rotnicki, Katy Perry, Morgan McLachlan, ” Perry, Perry, she’s, De Soi, Soi Organizations: New, New York CNN, Ghia, GlobalData, CNN, Molson, Molson Coors Beverage Company, Molson Coors, Whole Foods Locations: New York, ”

☆ Beijing is making its biggest move yet to patch up the property crisis threatening to blow up China's economy
▼ + stars: | 2023-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China is drafting a "white list" of property developers for bank financing, per Bloomberg. China's massive property sector is in a slump, adding to the country's post-COVID economic woes. AdvertisementChina's finally starting to do something about the three-year property crisis that's been weighing on its COVID-scarred economy. China's real-estate sector has been mired in a crisis since the second half 2021 when a liquidity crisis at Evergrande — once China's second-largest developer — came into public view. AdvertisementStill, not everyone is convinced Beijing's property "white list" will be the solution to China's property problems.

Persons: —, China's, Nomura, it's, Rory Green, Green, White Knight, Vishnu Varathan Organizations: Bloomberg, Service, BI, Mizuho Bank, Business Locations: China, Beijing, Asia

☆ AI poster child Altman back at OpenAI, may have fewer checks on power
▼ + stars: | 2023-11-22 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

[1/3] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. "Altman seems awfully powerful and it is unclear that any board would be able to oversee him. The board fired Altman last week with little explanation and attempted to move on by naming an interim CEO twice. "The fact that Summers and Taylor will join OpenAI is quite extraordinary and marks a dramatic reversal of fortunes in the company," Valle said. Sutskever, Altman and Taylor could not be immediately reached for comment.

Persons: Sam Altman, OpenAI, Chuck Schumer, Craig Hudson, Sam Altman's, Altman, Mak Yuen Teen, " Altman, Beatriz Valle, Bret Taylor, Salesforce, Larry Summers, Summers, Taylor, Valle, Jack Dorsey's, Tasha McCauley, Helen Toner, Ilya Sutskever, Adam D'Angelo, Sutskever, Sam, Gartner, Jason Wong, Aditya Soni, Mark Porter Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Microsoft, National University of Singapore Business School, Wall, Elon Musk's, Twitter, ., Harvard, Democratic, OpenAI, Georgetown's Center for Security, Emerging Technology, Thomson Locations: Washington , U.S, Bengaluru

☆ US new vehicle sales to rise in November on strong demand - report
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsNov 22 (Reuters) - New vehicle sales in the United States are expected to rise in November, a report from industry consultants showed on Wednesday, as demand for the latest models remains strong and inventories improve. U.S. new vehicle sales, including retail and non-retail transactions, are estimated to reach 1,236,000 units in November, a 10.2% jump from a year earlier, according to the joint forecast report by J.D. "Sales growth is being enabled by improving vehicle availability," said Thomas King, president of the data and analytics division at J.D. Inventory pile-up, however, led to a 1.9% year-on-year decline in transaction prices with an average price of new retail vehicles at $45,332. Power and GlobalData have also raised the annual forecast for global light-vehicle sales to 89.3 million units, up 10% from last year, on strength in China demand.

Persons: Carlos Barria, J.D ., Thomas King, J.D, Jeff Schuster, Ananta Agarwal, Shweta Agarwal Organizations: REUTERS, J.D, Thomson Locations: Port of Richmond, San Francisco , California, United States, ., China, Bengaluru

☆ Kim Kardashian is investing in the maker of truffle-infused condiments
▼ + stars: | 2023-11-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Kim Kardashian’s private equity firm has announced its first investment: A company that makes truffle-infused sauces that sell for about $20 a bottle. SKKY Partners, the company she formed last year with a former executive at Carlyle Group, has acquired a “significant minority stake” in Truff sauces. The six-year-old brand has recently grown in popularity for its condiments that extends from hot sauce to mayonnaise. The sauce brand has recently had high-profile collaborations with Taco Bell for a custom hot sauce and Hidden Valley for a special dressing. Skims, her underwear and apparel brand, recently launched a line for men.

Persons: New York CNN — Kim, SKKY, —, ” Kardashian, “, Truff, Taco, Ramadan, SKKY weren’t, Neil Saunders, ” Saunders, Jay Sammons, Carlyle, hadn’t Organizations: New, New York CNN, SKKY Partners, Carlyle Group, ”, Foods, Taco Bell, Unilever, Financial, GlobalData, CNN, ” Investment Locations: New York

☆ Black Friday came early this year, signaling worries about holiday demand
▼ + stars: | 2023-11-17 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season. Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF. On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021. In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year. The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.

Persons: Barbie, Mario Tama, GlobalData, They're, it's, Daniel Rubin, John's University's Peter J, Brett House, we've Organizations: Walmart, Getty, Adobe Analytics, Adobe, CNBC, National Retail Federation Retail Monitor, ., Tobin College of Business, Columbia Business School Locations: Burbank , California, GlobalData

☆ Formula One clothing craze sweeps retailers ahead of Vegas debut
▼ + stars: | 2023-11-16 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

[1/4] F1 apparel is displayed for sale, as U.S. retailers including PacSun and Abercrombie & Fitch are launching lines of Formula 1-inspired apparel, in Las Vegas, Nevada, U.S., November 15, 2023. Teen clothing chains Abercrombie & Fitch (ANF.N) and PacSun are among the U.S. retail chains seeking to turn Americans' budding love affair with Formula One into sales of F1-inspired clothing lines, building partly on excitement for this weekend's inaugural Las Vegas Grand Prix, the retailers said. At the start of the year, the average ticket price for the three-day race weekend was $1,667 -- more than triple that for some European races, such as the Belgian Grand Prix. Rolex paid $35 million in 2023 for a deal that includes title naming rights at two Grand Prix, according to research firm GlobalData. Ahead of the Vegas race, PacSun is selling a collection that includes a pair of $69 women’s cargo jeans and a $600 men’s leather jacket.

Persons: Mike Blake, Jay Prasad, ”, Richard Cox, PVH, Tommy Hilfiger, Conrad Wiacek, Red, Max Verstappen, they’re, Williams, Alfa, Katherine Masters, Jonathan Oatis Organizations: Abercrombie, Fitch, REUTERS, Rolex, One, Las Vegas, Prix, Mercedes, AMG Petronas, Miami Grand Prix, Puma, AP Rocky, Monaco, Netflix, ESPN, Red Bull, Alpine, Kappa, McLaren, Alfa Romeo, Thomson Locations: Las Vegas , Nevada, U.S, Belgian, Vegas, Miami, United States, Las Vegas, men’s

☆ Old Navy gives Gap a little something to cheer about amid sales slump
▼ + stars: | 2023-11-16 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

But signs of a turnaround for its Old Navy division offered at least something to cheer about. Overall revenue in the quarter for Gap Inc. fell 7% in the period over last year to $3.8 billion. Store sales across its brands in the quarter dropped 6%, while companywide online sales slumped 8% over the same time last year. Looking at its individual brands, sales at Gap’s namesake stores tumbled 15% versus a year ago. Excluding the negative impact from the sale of Gap China and the shutdown of Yeezy Gap, net sales for Gap were down 6% versus last year.

Persons: retailer’s, Richard Dickson, Dickson, Mattel, Barbie, “ Barbie ”, ”, Neil Saunders Organizations: New, New York CNN, Old Navy, Gap Inc, Refinitiv, Old, Industry, Warner Bros . Pictures, Inc, GlobalData Locations: New York, China

[1/2] A Tesla electric vehicle is plugged to a charger in a parking lot in Teia, north of Barcelona, Spain, October 31, 2023. High interest rates and a subdued market are putting customers off, they warned, with Volkswagen's EV order intake half what it was last year. Reuters GraphicsFALLING BEHINDCritics have long warned that a lack of affordable EVs would eventually stall the steep sales growth boosted by early adopters and corporate fleets. A weaker performance in September, consumer sentiment surveys and bleak commentary from carmakers and dealers indicates that low growth era may have arrived. "We call it the valley of death, which we will be going through in 2024 to 2027: low residual values, high supply, and low demand," Nothard added.

Persons: Albert Gea, EVs, Thomas Niedermayer, Flavia Garcia, Tom Carvell, Martina, AutoTrader, Garcia, We'll, Critics, Felipe Munoz, Alistair Bedwell, Langston, Ben DuCharme, Philip Nothard, Nothard, Victoria Waldersee, Nick Carey, Giulio Piovaccari, Paul Lienert, Sumanta Sen, Alexander Smith Organizations: REUTERS, Tesla, Volkswagen, Mercedes, Benz, Reuters Graphics Dealers, Toyota, HK, Reuters Graphics, Ford, GM, United Auto Worker, JATO Dynamics, Langston, Cox Automotive, Thomson Locations: Barcelona, Spain, LONDON, Europe, Germany, Italy, Bavarian, Edinburgh, Scotland, Britain, BYD, Nio, U.S, Rome, Detroit

☆ Here’s why saving this Illinois auto plant is a ‘gigantic deal’
▼ + stars: | 2023-11-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Now the United Auto Workers union can add one more. Illinois is not a political battleground state like Michigan or Ohio, which have far more auto plants. But that plant is now due to reopen as an assembly plant in 2027, building a new midsize pickup truck. President Joe Biden speaks to the United Auto Workers union in Belvidere, Illinois, on Thursday. And it’s what happened with the last GM assembly plant in Detroit, its Hamtramck Assembly plant, that as part of the 2019 labor deal was closed in early 2020 and re-tooled to make electric pickups, reopening in November 2021.

Persons: Joe Biden, Shawn Fain ., “, ”, Jeff Schuster, Fain, Biden, ” Fain, Evan Vucci, ” ‘, Dawn Sims, Stellantis, Schuster Organizations: New, New York CNN —, Motors, Stellantis, Ford, United Auto Workers, UAW, Stellatis, GM, Workers, GlobalData, Chrysler, Hamtramck Assembly Locations: New York, Belvidere , Illinois, Shawn Fain . Illinois, Michigan, Ohio, Belvidere, Illinois, Chicago, Stellantis, Delaware, Edmunds, Sterling Heights , Michigan, Detroit, Hamtramck, Spring Hill , Tennessee, Orion Township , Michigan, Lordstown , Ohio, Warren , Michigan, Baltimore

☆ GM-UAW agreement expected to include more affordable Bolt EUV
▼ + stars: | 2023-11-06 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

General Motors assembly workers connect a battery pack underneath a partially assembled 2018 Chevrolet Bolt EV vehicle on the assembly line at Orion Assembly in Lake Orion, Michigan, U.S., March 19, 2018. GM said on Monday it would not comment on the tentative agreement pending ratification by the UAW. The UAW summary did not specify products or timing for GM's Fairfax and Lansing plants. GM currently builds the Chevrolet Malibu and Cadillac XT at Fairfax and the Cadillac CT4 and CT5 and Chevrolet Camaro in Lansing. Chief Executive Officer Mary Barra has said the current Bolt will be phased out of production at the end of this year.

Persons: Rebecca Cook, GM's Fairfax, Mary Barra, Ford, ”, Bill Rinna, “ BEV, Sam Fiorani, Stellantis, Paul Lienert, Matthew Lewis Organizations: Motors, Bolt, Orion Assembly, REUTERS, Rights DETROIT, General Motors, Chevrolet, Cadillac, Reuters, UAW, GM, Chevrolet Malibu, Fairfax, Ford, AutoForecast Solutions, Thomson Locations: Lake Orion , Michigan, U.S, Kansas, Michigan, Lansing, Fairfax , Kansas, Fairfax, Lansing ., Detroit

☆ Adidas and Puma eye chances in soccer's fashion moment
▼ + stars: | 2023-11-01 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

One Premiership team has hired a creative director to expand its apparel offering, while Adidas in September launched an "exclusively off-pitch" apparel collection for some of the big-name teams it sponsors. "The love-in between football and fashion is only just beginning," said Richard Busby, CEO at sponsorship consultancy BDS Sponsorship. In August, Crystal Palace hired Kenny Annan-Jonathan as creative director focused on apparel. "We are experiencing hype around football jerseys and general designs influenced by football culture across streetwear and fashion," said Puma's global creative director Heiko Desens. "There's a risk of tension with existing fans whenever you start moving beyond the core culture," said Athens Kallithea's president and creative director, Ted Philipakos.

Persons: Asanka Brendon Ratnayake, Kim Kardashian, Richard Busby, Mary Earps, Busby, Kardashian, Germain, Mia Regan, Kenny Annan, Jonathan, GlobalData, Heiko Desens, Puma, popstar, cleats, Pele, Rihanna, Graham Renwick, Prada, Ted Philipakos, Philipakos, Helen Reid, Catherine Evans Organizations: Soccer Football, FIFA, England, Soccer, LONDON, Adidas, Puma, Nike, Greek, Athens Kallithea, Paris Saint, Arsenal, Crystal Palace, Premier League club, FOOTBALL, Bayern Munich, Juventus, Manchester United, Real, Liverpool, Newcastle United, Italy's Venezia FC, Athens Kallithea's, Premier League, Bundesliga, Thomson Locations: New Zealand, Spain, Australia, Sydney, Brazilian, Real Madrid, Italian, Athens

☆ Spirit Halloween lives on, even when the holiday ends and stores close
▼ + stars: | 2023-11-01 | by ( Drew Richardson | ) www.cnbc.com time to read: +5 min

The facade of seasonal Halloween decor store Spirit Halloween at a shopping center in Dublin, California, on Aug. 23, 2018. Smith Collection | Archive Photos | Getty ImagesHalloween is over, and your local Spirit Halloween is about to become a ghost town. The retailer opened a record 1,506 stores this season, up more than 50 stores from 2022, Spirit Halloween told CNBC. These become opportunities for Spirit Halloween, then, as the company pays to use the abandoned space for the Halloween season. Drew Richardson | CNBC"We have built great relationships with our real estate partners over the years," a representative for Spirit Halloween told CNBC.

Persons: it'll, Steven Silverstein, Silverstein, Drew Richardson, Maria, Jane, Neil Saunders, Saunders, Lana, I'm Organizations: Spirit, Spencer Spirit Holdings, Halloween, CNBC, Rite, CVS, Harmon, CVS Pharmacy, National Retail Federation Locations: Dublin , California, It's, New York, Manhattan's, New York City, New, Brooklyn Heights, Russia

☆ Magnolia Bakery is turning its most iconic desserts into cannabis edibles
▼ + stars: | 2023-11-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The New York City-based dessert maker is transforming some of its famous treats into THC-infused edibles, including its banana pudding and red velvet cake. The limited-edition bars, which mark Magnolia’s first-ever cannabis product, “celebrate the brand’s most iconic, fan-favorite flavors in a new light,” the bakery said. That has created consumer interest in weed, including edibles, with the stigma of buying the drug dissipating. Perhaps once known for being just “pot brownies,” the edible market has blossomed into several categories and hundreds of brands, including gummies, mints and candy bars. “There is no real downside to Magnolia, as consumer opinions on cannabis are now relativity liberal,” he told CNN.

Persons: Magnolia, It’s, Scott Vickers, Neil Saunders, ”, Saunders Organizations: New, New York CNN, Green Thumb Industries, Marijuana, CNN, City, GlobalData Locations: New York, New York City, — Illinois, Nevada, Massachusetts

☆ Auto strike is now the longest in 25 years
▼ + stars: | 2023-10-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —As of Wednesday, the unprecedented strike by the United Auto Workers union against General Motors, Ford and Stellantis is now also the longest American auto strike in 25 years. The last time the union struck one of the automakers, with its 2019 strike at GM, the strike lasted 40 days. Wednesday is the 41st day of the strike that started on September 15. This strike is also the first time the union has walked out at all three automakers at the same time. All the companies are on record saying they want to reach a deal to end the strike, as has the union.

Persons: GlobalData Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, GM, Kentucky, Plant, UAW Locations: New York, Sterling Heights , Michigan, Arlington , Texas, Louisville, Stellantis

☆ Globalisation woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Over the past seven decades, the world economy has grown 14-fold, powered by a 45-fold expansion in global trade, according to the World Trade Organization. World trade as a percentage of GDP peaked at 61% in 2008. The first is rising geopolitical tensions between the United States and China. The retrenchment is probably going to be gradual: global trade was still worth 57% of world GDP last year. For 2024, the WTO said growth in goods trade would pick up to 3.3%, virtually unchanged from its April estimate of 3.2%.

Persons: Chris Helgren, Joe Biden, Xi Jinping “, ”, Caroline Freund, Aaditya Mattoo, Alen Mulabdic, Michele Ruta, Ursula von der Leyen, it’s, Laura Alfaro, Davin Chor, Dario Perkins, GlobalData’s Perkins, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Warehouse Union, REUTERS, Reuters, World Trade Organization, Economic, Reuters Graphics Reuters, HK, Amperex Technology, European Central Bank, GlobalData, Lombard, Companies, Bureau of Labor Statistics, ECB, Thomson Locations: Vancouver , British Columbia, Canada, Netherlands, United States, China, Beijing, Washington, U.S, Taiwan, Mexico, Vietnam, People’s Republic, Latin America, Chile, Brazil, Ukraine, Geneva

☆ Breakingviews: Globalization woes create new winners and losers
▼ + stars: | 2023-10-17 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

☆ Social Security gains came back to earth. What that means for the economy
▼ + stars: | 2023-10-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

That’s why it’s a big deal when Social Security recipients receive their annual cost-of-living adjustment. Starting in January they’ll see a 3.2% increase in their Social Security checks, that’s a much smaller increase than the inflation-fueled boosts of the past two years, the Social Security Administration announced last week. David Certner: The Social Security Cost-of-Living Adjustment (COLA) is based on the Consumer Price Index for urban wage earners. The amount of GDP that’s generated by Social Security checks is actually larger than the total amount of Social Security money going out in the first place. Before the Bell: Could an increase in Social Security possibly add to inflation since that money is bolstering the economy?

Persons: they’ll, Bell, David Certner, There’s, we’ve, David Goldman, —, ”, Neil Saunders, GlobalData, ” Taylor, Taylor, “ Taylor Swift, ” Elizabeth Frank Organizations: New, New York CNN — Social Security, Social, Security, Social Security Administration, AARP, Consumer, Bell, Social Security, Medicare, CVS, Walgreens, Walmart, Target, Costco, US Securities and Exchange Commission, ”, Aid, Rite Aid, AMC Locations: New York, United States, Canada, United Kingdom, Mexico, Australia, Germany, Philippines, Brazil, South Korea, Malaysia, Singapore, Taiwan, Hong Kong

☆ Rite Aid files for bankruptcy
▼ + stars: | 2023-10-15 | by ( David Goldman | ) edition.cnn.com time to read: +5 min

“It was always a matter of when, not if, Rite Aid would file for bankruptcy,” said Neil Saunders, managing director of GlobalData, in a note to investors. As part of the bankruptcy plan, Rite Aid appointed a new CEO, Jeff Stein, who will also serve as the head of restructuring and a board member. The government accused Rite Aid of missing “obvious red flags” when it filled the prescriptions for addictive pain killers. Rite Aid is a distant third-largest nationwide standalone pharmacy chain in the United States — and the seventh largest pharmacy overall, when taking into account big box chains. Ultimately, in 2017, the companies agreed to a smaller, $4.4 billion deal, in which Walgreens bought just under 2,000 Rite Aid locations, leaving Rite Aid diminished in stature and unable to compete at the scale of its bigger rivals.

Persons: —, ”, Neil Saunders, GlobalData, Jeff Stein, Stein, “, Aid’s, General Merrick Garland, — CNN’s Nathaniel Meyersohn, Juliana Liu Organizations: New, New York CNN — Rite, CVS, Walgreens, Walmart, Target, Costco, US Securities and Exchange Commission, ”, Aid, Rite Aid, Solutions, “, Justice, US Justice Department, US Centers for Disease Control, ., United States — Locations: New York, United States

☆ CNBC Daily Open: Inflation reports take center stage
▼ + stars: | 2023-10-13 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

In this article JPMCWFCGOOGL Follow your favorite stocks CREATE FREE ACCOUNTA pedestrian passes a Wall Street subway station near the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 27, 2022. Photographer: Michael Nagle/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This pushed U.S. markets lower, renewing fears of what lies next for the Federal Reserve, which has stuck to its goal of 2% inflation. Investors may now want to take a deep breath to brace themselves before the barrage of earnings reports take markets by storm.

Persons: Michael Nagle, Steven Blitz, Zhiwei Zhang Organizations: New York Stock Exchange, Bloomberg, Getty Images Bloomberg, Getty, CNBC, Labor Department, Federal Reserve, GlobalData, JPMorgan Chase, Citigroup, Wells, Bank Locations: New York, U.S

☆ Getting to 2% inflation won't be easy. This is what will need to happen, and it might not be pretty
▼ + stars: | 2023-10-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Mike Blake | ReutersIn theory, getting inflation closer to the Federal Reserve's 2% target doesn't sound terribly difficult. The main culprits are related to services and shelter costs, with many of the other components showing noticeable signs of easing. watch nowInstead, getting better control of rents, medical care services and the like could take ... well, you might not want to know. Policymakers have been banking on the notion that when existing rental leases expire, they will be renegotiated at lower prices, bringing down shelter inflation. He added that the CPI report "is a reminder that we do not have good historic examples to lean on" for long-term patterns in rent inflation.

Persons: Mike Blake, Steven Blitz, Goldman Sachs, Lisa Sturtevant, Christopher Bruen, Marta Norton, Stephen Juneau, Juneau Organizations: Reuters, GlobalData, Street, Cleveland Fed, Bright MLS, Housing, Americas, Morningstar Wealth, Bank of America Locations: Rancho, San Diego , California, Maryland, Stephen Juneau , U.S

☆ Interest rates take center stage with banks set to report quarterly results
▼ + stars: | 2023-10-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Like other big banks, Wells Fargo and Morgan Stanley have been caught in the throes of the central bank's interest-rate-hiking campaign over the past 18 months. Wells Fargo and Morgan Stanley are down on the year amid the difficult backdrop, falling 4.3% and 8.6%, respectively. Wells Fargo is set to report third-quarter results before the opening bell on Friday, while Morgan Stanley is slated to post results next Wednesday. Out of the major U.S. banks, Wells Fargo has the largest exposure to the ailing commercial real estate market, an industry troubled by higher rates and near-record office vacancy levels. Morgan Stanley MS YTD mountain Morgan Stanley (MS) year-to-date performance For the three months ended Sept. 30, analysts expect Morgan Stanley to report revenue of $13.2 billion, up from $12.9 billion during the same period last year, according to Refinitiv.

Persons: Morgan Stanley, Jim Cramer, Wells Fargo, Wells, Charlie Scharf, Mike Santomassimo, Scharf, Jim, Morgan, –, James Gorman, we'll, Jim Cramer's, JPMorgan, Goldman Sachs Organizations: Wells, Silicon Valley Bank, Barclays, CNBC, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: Wells Fargo, Silicon, Wells, U.S

☆ Dollar General brings former CEO Todd Vasos back to lead the struggling retailer
▼ + stars: | 2023-10-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Dollar General has brought back its former chief executive in an attempt to revive its struggling business. On Thursday, the discount chain announced that it had reinstated Todd Vasos as CEO, replacing Jeff Owen. Shares of Dollar General, which have been under pressure this year, surged in after-hours trading Thursday after the announcement. Earlier this year Dollar General workers protested over unsafe working conditions at the store.. Conversely, during Vasos’ seven years as CEO, Dollar General more than doubled its market capitalization.

Persons: Todd Vasos, Jeff Owen, Vasos, Owen, ”, Michael Calbert, Neil Saunders, Oppenheimer, Rupesh Parikh Organizations: CNN, “

A woman pushes shopping carts during a sales event on Thanksgiving day at Walmart in Westbury, New York, U.S., November 28, 2019. In recent years, retailers like Amazon and Walmart have sought to boost their bottom lines and spread out demand by hosting holiday shopping events online in early October. Inflation remains a top concern for holiday shoppers, according to a KPMG survey, leading some to seek out deals on possible gifts. Walmart, which revealed discounts for its four-day Holiday Kickoff event at midday on Monday, posted deals on Dyson vacuums, HP (HPE.N) laptops and Apple (AAPL.O) products, much like Amazon and Target. The Target Circle event started nearly a week earlier than its October sales event in 2022.

Persons: Shannon Stapleton, Neil Saunders, Matt Kramer, Dyson, Arriana McLymore, Jamie Freed Organizations: Walmart, REUTERS, Black, Deloitte, Amazon, Deal, KPMG, KPMG Consumer, Retail National, U.S, HP, Apple, Target, Apple Watches, Thomson Locations: Westbury , New York, U.S, New York

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