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Aug 18 (Reuters) - Estee Lauder (EL.N) forecast annual sales and profit below estimates on Friday, indicating a slower-than-expected rebound in its travel retail business, mainly in Asia, and waning demand in the United States, sending its shares down about 3%. Analysts note that the drop in consumer demand in China and a slow recovery in Asia travel retail - sales made at airports or travel destinations like Korea and China's Hainan - could impact luxury companies like Estee, which makes about 30% of its annual revenue from the Asia Pacific region. "De-stocking and inventory levels in Asian Travel Retail… likely to remain the biggest headwind to growth over the next few quarters," said Bernstein analyst Callum Elliott. Estee expects full-year sales to rise between 5% and 7%, compared with an estimated 8.8% increase, according to Refinitiv data. It sees annual adjusted profit to be between $3.50 and $3.75 per share, compared with an expectation of $4.83.

Persons: Estee Lauder, It's, Tracey Travis, Lauder, Shannon Stapleton, Bernstein, Callum Elliott, Estee, Granth Vanaik, Ananya Mariam Rajesh, Pooja Desai Organizations: Reuters, Nordstrom, REUTERS, L'Oreal, U.S ., Asia Pacific, Thomson Locations: Asia, United States, China, Korea, Hainan, Asia Pacific, New York, U.S, Americas, Mainland China, Bengaluru

☆ In War on Congestion Pricing, Governor Turns to Courts and Trash Talk
▼ + stars: | 2023-08-07 | by ( Tracey Tully | More About Tracey Tully | ) www.nytimes.com time to read: +1 min

A U.S. senator accused New York of orchestrating a “shakedown” of New Jersey commuters. A Democratic congressman implied that the fall from grace of New York’s former governor Andrew Cuomo was karmic payback for his support for the new tolls, known as congestion pricing. Another accused the head of North America’s largest mass transit system of giving children cancer. The gloves are off in a long-simmering border war between New York and New Jersey. And this latest battle has given rise to a curious new set of allies and enemies, allegations of hypocrisy and vivid trash talk — a situation that may grow only more intense as the start of congestion pricing nears, possibly in May next year.

Persons: Philip D, Murphy, Andrew Cuomo, Mr, — Organizations: New, Biden, Democratic Locations: New Jersey, New, Midtown Manhattan, U.S, York, New York

☆ Sheila Oliver, New Jersey’s Trailblazing Lieutenant Governor, Has Died
▼ + stars: | 2023-08-01 | by ( Tracey Tully | More About Tracey Tully | ) www.nytimes.com time to read: +1 min

Sheila Y. Oliver, New Jersey’s lieutenant governor and the first Black woman to hold statewide elected office there, died on Tuesday after being rushed to the hospital the day before. Ms. Oliver, a Democrat and longtime resident of East Orange, N.J., was elected lieutenant governor in 2017 as Gov. In 2010, she became the first Black woman to lead the predominantly male State Assembly. Ms. Oliver had been serving as acting governor of New Jersey since Mr. Murphy and his family left over the weekend for a vacation in Italy, where they own a home. Mr. Murphy will return to New Jersey within the next few days, a spokesman said.

Persons: Sheila Y, Oliver, New, Philip D, Murphy, Nick Scutari Organizations: Democrat Locations: East Orange, N.J, New Jersey, Italy

☆ A Senator’s New Wife and Her Old Friends Draw Prosecutors’ Attention
▼ + stars: | 2023-08-01 | by ( Tracey Tully | More About Tracey Tully | ) www.nytimes.com time to read: +1 min

But their whirlwind romance has taken a sudden dark turn. Mr. Menendez, the 69-year-old Democratic chairman of the Senate’s Foreign Relations Committee, is under investigation by the Justice Department for the second time in less than a decade. And this time, his wife is also in prosecutors’ cross hairs. Unlike her husband, who took a seat on a New Jersey school board as a 20-year-old and rose to prominence in Hudson County’s famously sharp-elbowed political scrum, Ms. Menendez, 56, has lived a mainly private life. She is described by friends, acquaintances and two former lawyers in much the same way: social, smart and highly fashion-conscious.

Persons: Menendez, Ms, Hudson County’s Organizations: Foreign Relations, Justice Department, U.S, New York University Locations: Manhattan, New Jersey, New, Bergen County, N.J

SYDNEY/AUCKLAND, July 20 (Reuters) - Australia and New Zealand will open the ninth Women's World Cup co-hosted by the two nations on Thursday, despite a shooting near the Norwegian team hotel in New Zealand's largest city of Auckland that left three dead and six injured. Tracey Taylor, a professor of sports management at RMIT University in Melbourne, said many members of grassroots football clubs expected the tournament to have a transformative effect for participation in women’s sport in Australia. Several participating nations, including tournament heavyweights England and Spain, have been in dispute with their administrators over working conditions and pay in recent months. “It’s a once-in-a-lifetime opportunity for many New Zealanders to experience a top-tier FIFA World Cup event,” he said. Reporting by Alasdair Pal in Sydney; Additional reporting by Renju Jose in Sydney and Philip O'Connor in Stockholm; Editing by Lincoln Feast.

Persons: Chris Hipkins, Maren Mjelde, Sydney –, Tracey Taylor, ”, Sam Kerr, Anthony Albanese, Fatma, “, Grant Robertson, “ It’s, Alasdair Pal, Renju Jose, Philip O'Connor, Lincoln Organizations: SYDNEY, Police, New Zealand, New Zealand’s Football Ferns, Norway, Gang, Australia, RMIT University, England, rugby, Blacks, FIFA’s, Kiwis, Zealand, Wednesday, FIFA, Thomson Locations: AUCKLAND, Australia, New Zealand, Norwegian, New Zealand's, Auckland, Eden, Norway, Republic of Ireland, Sydney, England, Melbourne, Spain, France, Zealanders, Stockholm

☆ Hua Hsu Wants to Know Who Wrote the Zine ‘Secret Asian Man’
▼ + stars: | 2023-07-13 | by ( ) www.nytimes.com time to read: +3 min

A collection of these issues would undoubtedly be my favorite book that no one has heard of. I’ve always wanted to know who made this zine, and if there are any issues I am missing, and if I could republish them. Because of some scheduling issues, the only free days to do the audiobook came at the end of July. The day I had to narrate the book’s central trauma landed on the actual day it had happened 24 years earlier. But the best form of creative expression that takes friendship as a central concern is rap music.

Persons: Breton, Philippe Soupault’s, Hegel, “, ”, I’ve, Andrew O’Hagan’s “, ” Ann Patchett’s “, Gail Caldwell’s “, Tracey Thorn’s “ Organizations: Village Locations: Seattle , New York, Paris

☆ Paralyzed by a Police Bullet, He Describes a Life Forever Changed
▼ + stars: | 2023-07-05 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

A police officer, Jerry Moravek, came racing down the sidewalk toward the same noise. Their paths crossed, footage from a police body camera shows, and Officer Moravek pivoted to begin chasing Mr. Cooper, convinced that he was holding a gun. Months later, Officer Moravek would be charged with aggravated assault for his decision to fire his weapon, without warning, toward a man who was running away. But that is largely beside the point to Mr. Cooper. Mr. Cooper had had past run-ins with the police, and he had been released from prison less than two years earlier after serving time for weapons and drug convictions.

Persons: Jerry Moravek, Moravek, Cooper, general’s, ’ ” Organizations: Paterson Police Department

☆ Judge Investigated Over His Profane TikTok Videos
▼ + stars: | 2023-07-03 | by ( Tracey Tully | ) www.nytimes.com time to read: 1 min

For two years, a judge in New Jersey used a pseudonym to post TikTok videos of himself lip-syncing lyrics from popular rap songs. In some, he was wearing judicial robes or shown walking through a courthouse, according to the state’s Advisory Committee on Judicial Conduct. Others included explicit references to violence, sex and misogyny. On Monday, the court system said it had filed a complaint against the Superior Court judge, Gary N. Wilcox, who will now face a hearing that could lead to discipline ranging from a reprimand to dismissal from the bench. The complaint argues that Judge Wilcox’s decision to post the TikTok videos showed “poor judgment and demonstrated disrespect for the judiciary and an inability to conform to the high standards of conduct expected of judges.”

Persons: Gary N, Wilcox, Wilcox’s, ” Organizations: Judicial, Superior Court Locations: New Jersey, state’s

Bad air can be dangerous, especially if you’re breathing it over a lifetime. In East Asia, years of chronic air pollution is one reason that wearing face masks was common well before the coronavirus pandemic. School children there are used to playing inside on bad air days. In South Korea, would-be presidents have made reducing air pollution part of their campaign platforms. In other cases, urban air has improved because of something that no one saw coming.

Persons: it’s, Paiboon, Rajasekhar Balasubramanian, ”, Lee Hyung, “ It’s Organizations: New York State, World Health Organization, National University of Singapore, World Bank, Mexico City Locations: Midwest, United States, Cities, Asia, Africa, America, New, Bangkok, South Asia, East Asia, Seoul, South Korea, China, Beijing, Indonesia, Southeast Asia, Mexico, New Delhi

☆ Can Christie Succeed as ‘Trump Slayer’? New Jersey Has Thoughts.
▼ + stars: | 2023-06-05 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

Any race that pits Mr. Christie against Mr. Trump is bound to be especially personal. Mr. Trump seemed to find joy in belittling Mr. Christie from the White House; Mr. Christie blamed Mr. Trump for giving him a bout of Covid that left him gravely ill and hospitalized. In interviews with New Jersey voters, Mr. Christie’s assets and liabilities were repeatedly described as two sides of the same coin. And to Trump loyalists who might prefer that Mr. Christie retreat permanently to his beach house in Bay Head, it was much the same refrain: He is not Mr. Trump. After dropping out of the 2016 presidential contest, Mr. Christie became one of Mr. Trump’s biggest boosters.

Persons: Christie, Mr, Trump, “, ” David Philips, ” Mr, Philips Organizations: New, Democrats, Trump Locations: New Jersey, Bay, Trenton

☆ The District Gained Republicans. Could a Liberal Democrat Take It Back?
▼ + stars: | 2023-05-31 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

Last year, redistricting shored up the odds of victory for the incumbent party in 11 of New Jersey’s 12 congressional districts. With a year and a half before the election, it is likely that additional Democratic challengers to Mr. Kean will emerge. But Ms. Altman’s early entry and name recognition gives her a clear edge in a race that even the state’s Democratic Party chairman, LeRoy J. Jones Jr., acknowledges will be an uphill fight. “Sue Altman is a formidable candidate — and so far the only candidate,” Mr. Jones said. “Without hearing from anyone else, Sue is in a position to make her case to ultimately be the Democratic nominee.”

Persons: Tom Malinowski, Tom Kean Jr, Malinowski, Kevin McCarthy’s, Mr, Kean, Donald J, Altman’s, LeRoy J, Jones, “ Sue Altman, ” Mr, Sue, ” Organizations: New, Seventh Congressional District, Republican, Democratic Congressional, Trump, Democratic, state’s Democratic Party Locations: New Jersey, Washington

☆ In Cold War Berlin, an Affair Born of Chaos and Control
▼ + stars: | 2023-05-29 | by ( Dwight Garner | ) www.nytimes.com time to read: +2 min

Hans, a 50-something novelist and high-minded writer for radio, is handsome and rangy, and he looks fine with a cigarette. If “Kairos” were only a tear-jerker, there might not be much more to say about it. Clinging to the undercarriage of her sentences, like fugitives, are intimations of Germany’s politics, history and cultural memory. Her work has attracted star translators, first Susan Bernofsky and now the poet and critic Michael Hofmann. “Kairos” — the title refers to the Greek god of opportunity — is her earthiest novel to date.

☆ New Jersey’s Senators Push Back on Congestion Pricing
▼ + stars: | 2023-05-15 | by ( Ana Ley | ) www.nytimes.com time to read: +2 min

Many transit advocates, community leaders and urban planning experts in New York have celebrated the progress made toward congestion pricing this month, saying it was long overdue. The loudest opposition to the program has come from New Jersey. Mr. Murphy on Monday also unveiled an advertising campaign criticizing the program, complete with billboards near interstate crossings. Other opponents of congestion pricing have included taxi drivers and Lyft and Uber drivers, who worry that fare increases triggered by the tolls could slash demand for taxis and for-hire rides by up to 17 percent. says the program, which would affect drivers entering Manhattan south of 60th Street, could begin as soon as spring 2024.

☆ Starbucks, Estée Lauder, Qualcomm: Global companies warn of slower-than-expected recovery in China
▼ + stars: | 2023-05-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Starbucks (SBUX) and Qualcomm (QCOM) have also flagged uncertainties related to the country, which is a top market for both. Beijing abandoned its zero-Covid policy in December and scrapped longstanding quarantine requirements for international arrivals in January, ending restrictions that had isolated its economy. The welcomed, if abrupt, policy U-turn led to hopes that China could help propel global growth as it had before the pandemic. The idea was that as soon as the zero-Covid policy would be over, the Chinese households and consumers would just go berserk. Starbucks warned last Tuesday that sales growth in China was starting to cool — and likely would continue that trajectory over the next six months.

☆ N.Y. Congestion Pricing Plan Moves a Step Closer to Reality
▼ + stars: | 2023-05-05 | by ( Ana Ley | ) www.nytimes.com time to read: +2 min

Vehicles carrying people with disabilities and authorized emergency vehicles would be exempt from the tolls. will literally pilfer out of the pockets of Jersey families will go to the M.T.A.”Other critics include taxi drivers, as well as Lyft and Uber drivers. Manhattan residents who live north of the tolling zone have said they fear that motorists, to skirt the new charge, will cluster in their neighborhoods. To the disappointment of those who oppose the plan altogether, protests will most likely not stop transportation officials from moving ahead, though officials have made tweaks to ease concerns. What’s NextOpponents have threatened legal action if the plan continues to advance.

SummarySummary Companies Co expects annual net sales to fall 10% to 12%Expects annual adj. Barclays analyst Lauren Lieberman said in a note Estee's profit forecast was the "last thing" expected even by the Street. Even though China relaxed pandemic-related restrictions, the company saw January 2023 pressured by retailers destocking due to an increase in COVID-19 cases. Estee expects full-year 2023 net sales to fall between 10% and 12%, compared with its prior forecast of a 5% and 7% decrease. It also forecast adjusted profit per share to fall between 50% and 51%, compared with a 27% to 29% decrease it expected earlier.

Shares of the company hit a six-month low of $190.30 during trading hours after Estee Lauder slashed its fiscal-year forecasts for a third time. Estee expects full-year 2023 net sales to fall between 10% and 12%, compared with its prior forecast of a 5% to 7% decrease. Even though China relaxed pandemic-related restrictions, the company saw January 2023 pressured by retailers destocking due to an increase in COVID-19 cases. Estee has also been challenged by the growth of smaller competitors in the beauty space, according to Travis. Estee forecast adjusted per-share profit to fall by 50% to 51%, compared with a 27% to 29% decrease it expected earlier.

☆ After Student’s Suicide, an Elite School Says It Fell ‘Tragically Short’
▼ + stars: | 2023-04-30 | by ( Benjamin Weiser | Tracey Tully | ) www.nytimes.com time to read: +1 min

Last April, Jack Reid, a 17-year-old junior at one of the nation’s elite boarding schools, tucked a Bible into his gym shorts and a note into his pocket directing his parents to a Google document explaining his feelings of despair. Then, inside his dorm room, he took his own life. On Sunday, the anniversary of Jack’s death, the Lawrenceville School in New Jersey offered an extraordinary admission of failure, publicly acknowledging that it had been aware that Jack was being bullied by other students, but that it had fallen “tragically short” of its obligation to protect him. “The school acknowledges that bullying and unkind behavior, and actions taken or not taken by the school, likely contributed to Jack’s death,” Lawrenceville officials wrote in a statement posted Sunday morning on the school’s website. The school committed to taking a series of corrective actions including endowing a new dean’s position that will be focused on mental health issues, with a goal of becoming a model for anti-bullying and student mental health.

☆ Jail Guards Charged in Death of Detainee Who Was Forcibly Restrained
▼ + stars: | 2023-04-25 | by ( Tracey Tully | ) www.nytimes.com time to read: +1 min

After being handcuffed by the police, Mario Terruso Jr. was hallucinating, complaining of extreme nausea, and appeared to be high on drugs. But the New Jersey officers instead brought him directly to jail, concerned about getting bogged down on a Sunday shift awaiting a lengthy medical evaluation, according to an investigation by the state attorney general’s office. Thirteen hours later, after being forcibly restrained in jail, Mr. Terruso, 41, was dead. On Monday, a grand jury took the unusual step of handing up indictments against eight officers involved in the 2019 arrest and the subsequent restraint of Mr. Terruso inside Atlantic County’s jail. Eric Tornblom and Mark Jenigen, both correction officers at the jail, are charged with manslaughter.

☆ Former MoviePass CEO Mitch Lowe looks back on the mistakes that led to the startup's collapse
▼ + stars: | 2022-09-06 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +19 min

Mitch Lowe, who has been a leader at Netflix, Redbox, and MoviePass, is releasing his book "Watch and Learn" on September 6. (L-R) MoviePass CEO Mitch Lowe and Helios and Matheson Chief Executive Ted Farnsworth. I never tried to quiet people internally, if they said something wasn't going well I always embraced it. Like you wrote that you "didn't know jack shit" when you first started at Netflix. When I was offered to be CEO of MoviePass, I felt my whole career had led up to this moment.

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